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How to Avoid 6 Common Insurance Management Mistakes

1. Assuming your clients and staff will reach out if there is a problem

For many leaders in an agency setting, it can be hard to set aside time to consistently reach out to your clients and make sure their life, health, financial plans are working well for them. For example, if you sold a Part D Prescription Plan, the 90-year old beneficiary is experiencing problems in procuring medications; he may not know how to best reach you. By the time he finally finds contact info maybe he’s spent a large sum of money because didn’t know what pharmacy was in network.

It can also be hard to ensure your staff is being properly trained, mentored and growing professionally. A more proactive approach where you engaged your team and clients in communication helps decrease the chance of major problems arising.

2. Not having a calendar or keeping it up-to-date

You need to accept the fact that you are busy and to juggle your responsibilities you need to maintain a calendar. Both clients and employees need to know you can stay true to your time commitments. Scheduling appointments, vendor meetings lets you arrange your day and track time better. It cuts down on the on-the-fly meetings that can pull people away from work and become large distractions.

Passing the blame when something goes wrong

Sometimes you don’t know everything. If you mess up don’t pass the buck, admit fault then move on. Mistakes happen at every company, every skill level and the best thing you can do is learn from it. The entire team becomes better when mistakes are used as a learning tool.

4. Doing nothing to help employees (and yourself) receive continued training and product education

As the leader you need to recognize the value of pushing yourself and employees to grow in their professional lives. You should always be searching for ways for your team to work smarter, and ability to make the business as successful as possible. When you empower employees to be better the happier they are. Happy workers make successful companies.

5. Trying to be popular all the time

As an agency owner, manager, and leader you can’t expect to be everyone’s friend. Sometimes you have to make tough business decisions based on your business analytics and push your team to work hard. There will be times your team may not like you, but they will respect you. A good leader guides the team where they ought to be going instead of whatever direction is easiest.

6. Forgetting to set goals outside the workplace

Having a great work ethic and enjoying your job is fantastic, but it shouldn’t encompass your identity. As one of our top producers Tyler M sums it up well, “there might be a day where you retire and you have nothing to tie your identity to. You must invest yourself in your family to cultivate your own personal growth and fulfill your journey.” It’s important to set some boundaries for yourself and give your mind and body time to reset after each work day, and week.

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