Strategies to Recruit Insurance Producers in Today’s Job Market

A surprising question about recruiting emerged in 2024. Insurance agencies have consistently asked me, “What are you seeing in the market for insurance producers?” The fact that agencies are looking for producers doesn’t shock me. It’s the idea that they want to recruit them which is surprising.

Looking is passive, and plenty of agencies take the approach, “We’re always looking for good producers.” This is not recruiting, it’s more like hoping potential recruits fall from the sky into your lap.

Recruiting is intentional. It’s direct, active, and when companies say to me — “We want to hire producers. What will it take to get them?” — here is the guidance I provide insurance agencies to get started.

How Do Other Insurance Agencies Find Sales Candidates?

Producer recruiting is like a fork where each prong represents a sourcing strategy that works in conjunction with the other. I advise agencies to have multiple “prongs” to source producers with the most common being:

Direct Recruiting — Agencies network with industry centers of influence and directly solicit candidates (on their own or with help from an external recruiter) to identify sales talent from competitors.

Academic Alliances — The Des Moines area high school that my kids attend has a dual-credit college program sponsored by a large insurance broker. Programs like this, high school or college, introduce insurance as a career to future employees, and as a sponsor, gives a company like yours an internship pipeline and a recruiting advantage.

Generational Connections — Plenty of seasoned insurance professionals call me asking for advice for their son, daughter, friend of a friend’s kid, and so forth who want to break into insurance. You know these same individuals. They are your underwriters, claims adjusters, etc. Never end a conversation with an industry contact without reminding them that you’re looking for good newbie sales talent. Ask them for referrals.

How Do We Determine What Experience Is Right for Us?

Producers fall into one of three categories — newbies, B2B converts, and experienced recruits. Unless you have a strong aversion to one of these categories, stick with the fork analogy and keep all three possibilities in play.

Your #1 priority should be recreating past success. It’s a powerful recruiting pitch to show candidates that someone with their background has thrived at your agency.

Your #2 priority is finding the right DNA. Lean into profile assessments. Use the results from your current producers to set a baseline. Remember to select different personalities from within your sales team to increase the potential for diverse hires.

Your #3 priority is letting the tools you provide a new producer determine the profile. For example:

• Will you seed them a book? Then you might want to target experienced candidates.
• Do you have great in-house training? A college grad could be great.
• Are mentors and awesome AEs with deep subject matter expertise at their disposal? Hire a B2B convert who is a natural door opener with a rolodex. They just need your help covering up their insurance knowledge deficiencies.

What Should We Tell Producers to Gain a Recruiting Advantage?

My May 2023 column, A Great Pitch Recruits Producers in a Competitive Job Market, talks all about how to position your recruiting message. Candidates are astute and can tell when you haven’t thought about it. For instance, a Top 100 broker recently told me the reason an experienced producer should want to join their firm is because, “We have great tenure, unlimited earning potential, and people who want to work hard and love working here.” That all might be true, but theoretically wouldn’t every agency say that?

You need a sales pitch that makes you stand out, and that sound bite must be personal. Examples of what sales candidates love to hear include:

• A lead generation engine
• Mentorship and team-based selling
• Deep in-house resources (marketing, claims, loss control, technology, etc.) that are available to them and will make a substantial impact on account retention
• Ownership, creation of wealth
• Leadership opportunities — i.e. planting a flag in a new region, building a team underneath them, or putting themselves in a position to be a future successor.

Topics Talent