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7 Tips for Insurance Agents Interested in Outsourcing

7 Tips for Insurance Agents Interested in Outsourcing

7 Tips for Insurance Agents Interested in Outsourcing


You have probably thought about outsourcing specific functions of your business at some point. You may have even tried hiring a remote worker to make cold calls, handle email follow up or conduct some other repetitive task. Many insurance agents I speak with fall into one of two groups, they are either too overwhelmed to try outsourcing, or they have made a limited investment and received either lukewarm or disappointing results.

The truth is outsourcing can be a very effective way to grow your business, while freeing up your time, as long as it is carried out in an efficient, process based way. I manage an offshore business process outsourcing center and I've worked with numerous insurance agents (as well as people in many other industries) and I've seen what does and doesn't work. Here are my 7 basic pieces of advice if you are considering outsourcing.

1. Begin with the end in mind. I know this is an over used piece of business jargon, but there are so many instance of this piece of common sense being violated in small business outsourcing campaigns that it bears repeating. Before you do anything else decide what do you want to get from hiring outside help. Think of it as hiring an in-house employee, would you start the recruiting process without having a fully defined job description? Don't do that to your outsourced hire either.

2. Are you outsourcing something brand new? If so you want to back up a few steps. Its impossible to tell if any marketing campaign or process will be successful before it has actually been run for a while. Before shelling out for an overseas employee make a few calls, or conduct the process yourself for a few hours to find any snags or problems that may come up. Its a lot cheaper and easier to fix process problems before you start then to change course when you are running.

3. Keeping track. This goes back to process, but you need a system to keep track of what your agent has to do, what they are doing and the results. Put this in place before you start. Many people find Google Docs to be a perfect fit for this. Documents can be edited and the changes can be seen by multiple parties in real time. They also provide email and instant messenger functionality for communication.

4. Ramp up time. If you hire a sales person to work out of your office you aren't expecting them to be closing deals the first day. The same goes for outsourcing, especially if the process you have put together hasn't been done by overseas employees before. Take time at the outset and work with your new hire, listen to problems and questions they have and improve the process. Putting in the time upfront will ensure you have a scale-able and repeatable process.

5. Deadline and checking in. When starting anything new assign a deadline and have the agent check in with results. This limits exposure and allows you to find any glaring process issues that can be corrected without wasting unnecessary hours or days.

6. Keep it simple. Sometimes the best campaigns are also the simplest. Asking for a lot of qualifiers might make your lead quality higher, but I can guarantee it will effect the volume of leads you get. Start with a basic script and start building from there.

7. Figure out your ROI. Know going in what your ROI has to be to make this campaign effective. Watch how things are trending, not purely how much return you have, especially at the beginning. Some campaigns (especially more complicated ones) can take a week or two to get the kinks worked out. If things are trending right by the end of the second week, but overall a two week test hasn't made its money back, its probably worth continuing. On the other hand if your process doesn't seem to be working at all its not worth throwing good money after bad, time to retool or try something else.

Outsourcing can be a big help for businesses of any size. The key is approaching it as if you are building a new position within your operation and then planning a process accordingly. If done correctly the cost savings and production can significantly improve the bottom line and allow you to grow your business.
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7 Tips for Insurance Agents Interested in Outsourcing