Why Mentorship Matters in Health Insurance Sales
New health insurance brokers often feel like they are alone on an island. But being an independent sales professional doesn’t mean that you have no resources. It may be helpful to find an insurance sales mentor. The right health insurance sales mentor can help you accelerate your sales growth, improve your closing rate, and prevent burnout.
The good news is that you don’t have to figure it out alone. Mentorship opportunities are often closer than you think. Here’s how to start building the right relationships.
How Do You Find a Mentor in Health Insurance Sales?
You can find a health insurance sales mentor by leveraging existing industry connections, joining broker groups, using social media, building an advisory council, or enrolling in structured sales coaching programs.
1. Leverage Your Existing Industry Connections
These could include carriers with whom you’re doing business, general agency contacts, field marketing organizations, trade groups, and others.
Your future mentor could be someone you know through NABIP, CAHIP or any of its 10 regional chapters, NABIP Northern Nevada, or NABIP Southern Nevada. The Independent Insurance Agents & Brokers of America also offers a mentoring and career development guide.
Another resource you might consider is SCORE, which offers free small business mentorship and other resources. Further information is available at score.org.
2. Use Social Media to Find Insurance Sales Mentors
You can follow and connect with successful insurance brokers through professional groups on LinkedIn and other platforms. Some industry veterans are open to mentoring, especially when approached professionally. What could be even more helpful is focusing on smaller broker groups with up to a dozen professionals. These agents may be more willing to discuss sales techniques that have proven effective for them.
3. Build Your Own Insurance Sales Advisory Council
As an alternative to a single mentor, you could choose to assemble an advisory group that can help you with various aspects of the business. One for marketing, one for closing, one for agency operations, one for renewals, etc.
4. Explore Paid Sales Coaching Programs
Multiple specialized paid coaching programs are available, too. These provide formal, structured, one-on-one coaching for a fee. Options to consider include:
- Insurance Sales Lab
- Redbird Agents
- Permission Network/Charles Specht
- MarshBerry
- Insurance Pro Shop
- Ivy Consulting Group
Additional firms are mentioned in the article, The Top 10 Business Coaches and Mastermind Groups to Help You Grow Your Insurance Brokerage, published online at smith.ai.
Beware of upsells in your paid mentoring contract negotiation. You’ll want to ensure any coach you talk with is still engaged in the insurance business. The marketplace has changed (and continues to evolve). If your coach is not in the market right now, he or she may not fully understand the current market challenges you are facing.
5. Focus on Role Play and Full-Scope Sales Development
In approaching potential mentors, do so with humility. Share your goals and your past record. Invite them to witness you in action but be respective of their time.
Valuable mentoring encompasses a discussion of handling objections, follow-up strategies, renewal discussions, and effective closing techniques. If you don’t cover all of these topics – and others – you’re less likely to see positive results from mentoring.
If you’re working with Word & Brown, your representative may be able to share some additional tips and guidance. If you are not already working with us, visit us online to register or call 800-869-6989. We’ve been partnering with brokers for more than 40 years, and we’re known for our legendary Service of Unequalled Excellence. Let’s join forces!
