Friday, August 10, 2007

Working with Insurance Agents

Insurance agents can be a great source of new business -- but the challenge is building the relationship initially. The first insurance agent you should network with is YOUR insurance agent. You will already be speaking with him/her because you'll need to line up business insurance for your new home inventory service business. Ask him or her how you can work with them to increase awareness of the need for a home inventory. (After all, most insurance companies either recommend or require a home inventory from their customers.)

Perhaps you can do a co-branded postcard to the insurance agent's customer database. This is a postcard YOU pay to print, produce, and mail, but the agent provides the mailing list and an "implicit endorsement" of you by allowing his/her name to appear on the postcard.

It might read:
"State Farm recommends you maintain an inventory of all of your possessions to maximize your insurance coverage. When you need to make a claim, will you have the information you need?"

Include a few tips for conducting an inventory, and close with the tag: "If you need assistance with compiling your home inventory, contact (YOUR NAME) at (YOUR BUSINESS NAME)." Include your phone number and website address.

For best results, include your photo and the insurance agent's photo and contact information. I recommend using "oversize" (at least 5x7) postcards. The total cost should run you about $1.00 per postcard (including printing and first-class postage).

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Want to expand your network of insurance agent contacts?
Have clients sign a release of information form for their insurance agent. Send a letter to the insurance agent, notifying them that an inventory has been completed on (date) and enclose your contact information for their file in the event of a claim. For best results, make the release form a two-part NCR (carbonless copy) form. Send 1 copy to the agent and retain one in your client file.

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