Summary:

In this episode of The Digital Broker, Ryan Deeds and Melissa Wilder confront the day-to-day challenges affecting so many account managers, how they often lead to burnout, and what to do about it. By listening to this episode, you will learn:

• Why the account manager’s job has become more challenging in recent decades, even as technology has made everybody else’s job easier
• Why account managers tend to inherit everybody else’s tasks and mistakes, and how to correct this injustice
• How to separate account manager responsibilities from everyone else’s at the agency by applying the principles of operational excellence, relieving account manager burnout and restoring passion and purpose to the job

The Digital Broker podcast is brought to you buy Indio Technologies. Indio turns the application and renewal process into an online TurboTax like experience for your clients. As a result, the 1,000+ agents using Indio provide their clients with a top-rated customer experience, reduce their E&O exposure, and outgrow their competition. To learn more about Indio, click here!

Recap:

This is going to come as a shock to a lot of people, but being an account manager used to be fun. You were on the road more, playing a bigger part in the negotiation process: meeting with clients and carriers, getting to know the insured, honing and using finesse and other stimulating skills.

What a far cry from the account manager lifestyle today. From the moment they enter their office, which they’ll never leave before the day is up, account managers are inundated by a stream of tedious, disparate tasks and overwhelmed by the pressure to get them all done today.

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Summary:

In this episode of The Digital Broker, Steve and Ryan examine compensation structures and the impact they have on insurance agency operations. By listening to this episode, you will learn:

• How the compensation structure makes or breaks an agency
• What a typical compensation structure looks like inside an agency
• How increasing or decreasing different commission points incentivizes different behaviors
• How to design a compensation structure that scales, maximizes potential and pays everyone fairly

The Digital Broker podcast is brought to you buy Indio Technologies. Indio turns the application and renewal process into an online TurboTax like experience for your clients. As a result, the 1,000+ agents using Indio provide their clients with a top-rated customer experience, reduce their E&O exposure, and outgrow their competition. To learn more about Indio, click here!

Recap:

Ask 10 principals to name the challenges facing insurance agencies today, and about 9 of them will say something about motivating producers to get out there and produce. After all, that’s what feeds agency revenue: new business and renewals. In an effort to drum up both of those, principals will sometimes apply compensation structures that are all over the place. This is especially the case at smaller agencies, where business is done more informally, with agents and brokers cutting each other in on improvised, handshake deals.

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