The core principals of selling insurance protection haven't really changed that much. The tools and speed with which it happens have changed as have the number and aggressiveness of competitors in the marketplace.
What has changed for both young (and old) producers is prospecting for new clients.
Today's world of social media and the internet requires a total rethink about how producers locate and gain the opportunity to work with a potential client.
In the past a new producer would focus their attention on making contact with a prospective client and determining the effective dates of their existing coverage. Their goal was to get a commitment from the prospect to allow them to review their coverage and provide them with a proposal for their consideration. Many times that review and proposal process would start 90-120 days in advance of their existing policy expiration(s). The key for the producer was to develop some rapport or relationship with the prospect and their commitment to allowing the review and proposal at the appropriate time.
As it is today, and always will be, the subject of price was a part of the discussion. That is to be expected as affordability and/or cost savings is always part of the discussion when a producer is trying to get a prospective client to make a change.
The tools that a producer had available to them in the past were rudimentary at best. There was very little technology involved in the process. A significant indicator of a producer's likelihood of success was their personality, their existing relationships and their organizational skills and work ethic.
The world that new producers face today is totally different. Technology is everywhere. Potential clients have more access to information than ever before and they have the opportunity to be better educated buyers. They are being bombarded with advertising telling them that speed and cost should be main value indicators.
Instead of producers reaching out to prospects directly in today's world the producer has to develop an internet presence and reputation. Prospects are likely to pick a producer on their knowledge and personality. Positive comments about the producer's ability, service and products shared by others on the internet are critical. Potential clients form opinions of the producer based on information gathered from friends and what they observe on the internet.
In year's past...