Posted: Sat Mar 29, 2008 6:47 pm Post subject: Networking
Hi everyone,
I am a new P&C agent and trying to get referrals. I want to approach my local Real Estate, Mortgage Companies and new and used car dealers.
Has anyone done this and if so do you have a suggestion on a letter to send them or a script to use?
I'm in a similar situation and what I'm finding is most real estate agents and mortgage brokers already have insurance contacts, so building the relationships are difficult.
What I've done is try to find people who need the services I have. As an independent agent, I've realized that many captive insurance agents have areas they may not have markets for and I approach them. As a prior employee of a captive agent, we used independents to refer business we could not write and our customers loved us for it. We had a good relationship with the independent and they agreed not to solicit the customers for products we can write. Our insured's loved the fact that we helped them, even though we could not write it.
I know many agents don't think to reach out to other agents, but I've found it lucrative so far.
Another thing you can do is look into networking groups such as BNI. They set up groups with one person from each type of profession so there is no one competing with another member. They all refer people to others in their group. Many of these groups charge a premium.
Also, when you write a home policy, call the insured's realtor and mortgage company and introduce yourself. Let them know you're new and looking to work with others in your area. Sell yourself. If you got the mutual customer a good price, they'll know it, and use it to your advantage. Ask them if they generally recommend an agent and if they don't, you'd be grateful if you can meet with them sometime so they can know you a little better.
Realtors and mortgage brokers are in the same boat you are, they get paid on commissions and can usually relate to when they started out. You just have to ask.
