Insurance agency business lessons from the COVID-19 pandemic

insurance agency business

Businesses of virtually every size were unprepared for these changes, but here’s what to learn.

As owners and staff of an insurance agency business, you make a living by making sure your customers are prepared for the unexpected.  That said, 2020 has made it clear that even experts in the unexpected can be taken off guard.

There have been many lessons that owners and staffers have learned throughout this year.

To make sure your insurance agency business is more than just surviving but is continuing to thrive as the pandemic continues, don’t miss the lessons it has provided so far.  This will help you to be prepared for what continues to take place over time and adapt more smoothly each step of the way.

The following lessons can help your insurance agency business in virtually any conditions.

  • Equip Yourself Right Away – At the signs that trouble is coming, the agents that were most successful were the ones that jumped on buying masks for their staff and disinfecting and cleaning supplies. Many found an quality commercial-strength Ultraviolet Sterilizer helped complement their disinfecting activities so workspaces – at home or in-office – could be properly cleaned.
  • Multiple Revenue Sources – Try to make sure your business doesn’t have all its eggs in one basket. Instead of relying exclusively on a single type of product, open things up to additional products that will have appeal in varying circumstances and economies.
  • Pay Attention to the World Around You – This pandemic was not without warning. However, it was important to listen to what world officials were saying and to watch what was going on in affected areas. This way, preparation is possible for your insurance agency business, just in case the signs develop into a real problem.
  • insurance agency businessInvest in Quality, Flexible Technology When you keep your technology up to date and effective, it means that when you need to switch gears, your company is ready to move. Any insurance industry business that had already swapped out landlines for a telephony system and offered quote automation adapted better to the pandemic than those that did not. It also meant that working at home became possible and very little extra equipment needed to be purchased to make it happen. Technology can be one of the most important tools to being able to pivot in the face of the unexpected. Keeping yours up can mean you don’t need to do much at the last minute.

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