Producer Recruiting

Challenges

Licensed producers have nearly unlimited options when it comes to which insurance products they want to sell and strategic partnerships they want to form. Your competition is steep, and using data-driven decisions is key to containing costs for producer recruiting.

You will need metrics to determine:

• How many licensed producers exist in the geographic area you’re targeting for growth
• Which producers are already at capacity with their carrier appointments and products, or looking to expand their scope
• Whether it is better to recruit at the agency level or to the individual producer

You will also need to decide what your organization offers to producers who join. This can range from salary and commission structure to employee benefits, or even flexible work arrangements that draw producers to your agency over others. 

Best Practices

As with any form of recruitment, wooing new producers into your network depends on hitting the right people with the right message at the right time. Look at historic data and future predictions to determine where your efforts are best spent. Dig deep to uncover which producers are the best potential fits for your appetites before attempting to recruit them. 

If possible, use industry-wide data from sources such as NIPR to determine which licensed producers could be open to joining your distribution channel, based on experience level, geography, and current credentials.  

Data-based decision-making in this area can keep your costs low. Good data can help you avoid chasing after agents who may have regulatory actions against them, as well as helping you identify early up-and-comers in an industry that sees lots of turnover amongst young agents.