There are many ingredients that make a Producer successful. The ability to:
- Find clients
- Carve out the client needs and deliver on those needs
- Retain the clients
These are the most basic responsibilities, one of the most critical aspects of each of those responsibilities is understanding technical insurance coverage. Producer School helps accelerate a mastery of these responsibilities to expand the career of Producers, both new and seasoned.
Producer Schools are held throughout the nation both by carriers and by independent organizations. The value of Producer school to a newer Producer cannot be overstated.
Here are 3 Reasons Why Producer School is WORTH the investment – from the perspective of a Producer that attended the National Alliance Producer School in San Antonio, TX in 2013. This Producer ranked #1 in his class and shared his takeaways in a recent interview.
Takeaway 1 – Forms & Exclusions Mastery:
The value of the forms we sell cannot be overstated. It’s easy to wine and dine clients but when it comes down to the meat of what we do, we sell insurance policies. More specifically, we sell forms and exclusions to clients. Understanding the policy wording within the forms is critical. Before Producer School, I had a basic knowledge of general coverage, but had never taken the time to read through an entire form. Understanding the forms can result in a covered claim or a denied claim. The instructors took the time to review each line in a standard ISO form and show how to carve out coverage inclusions that might be missing from competitors’ policies.
Takeaway 2 – Create a Niche & become an expert:
Producer School helped us carve out a niche market and start to become an expert in the coverage that need to be included, as well as look out for common exclusions that carriers would try to include. As we learned from the first takeaway, not all forms are created the same. Creating a niche helped me start right up at my agency with confidence and knowledge that other newer producers lacked. It gave a focus that was missing before school. It also gave me direction in pursuing new business.
Takeaway 3 – Claims experience & handling will retain clients better than a nice Christmas basket:
If you want to keep that banner account, you better know how to handle the claims so they stick with you! The Producer School I attended hired some of the biggest leaders and superstars in the industry. As a result, we were told stories about claims and situations that few could ever get access to. Seeing how they handled certain clients and claims was quite educational. These instructors handled large NFL teams, multi-national accounts, the top Forbes companies, and a myriad of Hollywood Superstars. Learning from them was exciting!
What’s the cost?
This Producer shared with us that Producer school is ABSOLUTELY worth the cost. He would recommend it for new Producers and those that are seasoned but looking to boost some production numbers. Average cost to attend is estimated to be $3,000 plus travel and expenses.
In all forms of business, taking it upon yourself to further your education to advance your skills is worth the investment. In terms of the long-term effects that come with getting that educational boost, the schooling pays for itself when you can come back to your niche more seasoned with a well-rounded background of skill-sets.
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