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... the age or proximity to retirement of principals, or the lack of desire or ability to keep up with the changing environment. Agencies in this group will have a hard time making it past the next 10 or so years. Increasing costs, growing complexity, company pressures, changing customer buying preferences, and shifting market forces will see to that. The remaining 60% of agencies enjoy great opportunities — provided their owners are willing to pay attention to the eight basic rules discussed below. The insurance industry that emerges five years from ... the market. Recognize and deal with the fact that banks and financial institutions are marketing insurance. Others are now selling the products to which you've had exclusive rights. This situation offers opportunities that you can and should be pursuing. Rule #3 : Determine how you measure up to the new emerging distribution systems, such as banks. Can you compete, or should you consider joining forces and help them work their customer lists? Rule #4 : Provide professional, knowledgeable staff to your customers. Your staff must provide perceived value ... your clients' specific needs, wants and desires, and be in a position to meet them. Every agent and agency owner must recognize their book of business as a customer database and work it accordingly. Rule #8 : Understand and sell your clients the financial instruments they need as today's hedge or gateway to their futures. This is a must that breeds customer satisfaction, together with higher renewal ratios, and higher earnings for you and your employees. It also makes it far more difficult for your competitors to get their phones ...

...sts, growing complexity, company pressures, changing customer buying preferenc...nd sell your clients the financial instruments they need as today’s hedge or g...