When Riemer Insurance Group lost $9 million in one day to the wrath of Hurricane Andrew, agency owner Stephen Riemer didn’t hesitate. After securing a loan from the bank, Riemer rebuilt his agency into the successful, multi-state operation it is today—though using a slightly different approach than what’s considered standard in the industry.
“I began my campaign by trying to hire people from within the industry, but I couldn’t make it work. After the third person, I realized I was doing it wrong,” Riemer told Insurance Business. “I started bringing in people from outside of the industry.”
Riemer targeted proven salespeople with a solid book of business, but who had never worked in insurance sales. Using their contacts, the producer would pursue insurance sales with new and existing accounts. The approach worked.
Today, Riemer Insurance Group is a multi-million dollar business with several successful producers—and they all follow this five-step plan to grow their book of business.
1. Get involved as a leader in the community
The first way to increase a producer’s footprint is to get involved with the community in some capacity. Identifying individual passion, whether that leads the producer to the library or the Boy Scouts, is the best route to success. As a community leader and volunteer, the producer will make more inroads with potential clients.
2. Engage in civic responsibility
Equally important to community leadership is civic responsibility. Riemer encourages his producers to give back through organizations like Make a Wish or a local museum. Having a place on a top committee, rather than just donating money, positions a producer as a civic leader and increases exposure as well as satisfies moral responsibility.
3. Join at least two trade associations
Trade organizations like the PIA and IIABA are great, but it’s also important that producers get involved in the trade organizations their clients belong to. For example, if a producer is specializing in technology developers, it probably pays to join at least two trade organizations for the industry and attend their shows to make contacts and learn more about the industry.
4. Open your home to potential clients
Encouraging producer to open their home to clients and potential clients builds relationships and exposes producers to more and more people. Something as simple as a barbecue is an easy way to start building more inroads. Becoming “socially important” in this way is key, says Riemer.
5. Pursue a better education
Pursuing designations like the CPCU, CIC and ARM increases agent clout as well as expertise. To encourage his producers to continue their education, Riemer rewards them financially through a bonus system.
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