How to become an Insurance Broker!

Where are You in Your General Insurance Journey?

Different information is relevant for where you are in your Journey. We specialise in coaching General Insurance Authorised Representatives. These are usually attached to AR Groups and want to establish their own business.

We are most suited to assist with coaching General Insurance AR's with or without employees, from pre startup, through setting up and growth and to exiting. We have been in all of these stages of business. These businesses are wanting to crystalise their vision and usually have growing pains particularly around customer attraction, retention, marketing and staffing challenges.

I'm Getting Started - Exploring Options

A guide to understanding where you are at and your options.

We understand that exploring the move into Brokering can be daunting and overwhelming.

Firstly, where are you at present? Are you employed in the industry as an account executive, BDM, claims officer or administration assistant, industry adjacent (building, claims providers, financial services, repairers etc), just completed your Degree or merely wondering what the hype is about?

Secondly, what is your BIG picture of what you are wanting to achieve and more importantly WHY?

The reality is that except for a handful of brokers who come from a family business in brokering, most fall into it or are recruited for their existing professional or sales skills.

We focus on coaching the Authorised Representative model (AR) which is best likened to the franchise models you see around in business. Someone else owns the system, IP, branding and supports you in transacting business. In General Insurance this is a licensing model where the AR Group (AFSL holder) holds the overall license with ASIC and agreements with the insurers. You transact business under their license and in return for that you share your income with them and they provide specific services to you.

At this early stage you are not usually looking at getting your own AFSL license and the additional costs and skills that requires.

Entering into an AR Business and gaining favor with the AR Group will depend on a number of factors but most importantly:

Reputation
Experience in Industry
Industry and other qualifications - at least Tier 1, but more AR Groups are aiming for a minimum Diploma level.
Soft skills including sales, relationship building etc.
A plan on how to handle the progression to business owner and Brokering.

Remember this is a people based relationship at all levels so your presentation, ability and preparedness will need to align with your chosen AR Group and most importantly your potential ideal clients.

There are many benefits to becoming an AR including:

Competitive income potential
Flexible work arrangements
Continuous learning opportunities (usually at no or low cost)
Community impact and trust
Creating a business and legacy
Career growth potential

The great news is that with the proper guidance and support you will be successful and grow a great business to achieve your Goals and create a legacy.

All sessions are aimed at your main Goals (Business and Personal) and how to achieve them. Your Business, Your Vision, Your Outcomes!

The Sessions have designated check points for development of goals and actions, negotiating barriers etc.

We're also focused on your general sense of wellbeing, happiness and lifestyle. We can help unearth some blockages that might be standing in your way, assist with organisation routines that can help to get your life under control, and more.

We are well versed in the different sections of your business covering:

Vision and Strategy (Mindset)
Systems and Administration
Your Team
Marketing - Finding your Ideal client
Converting Sales and Soft Skills
Financial Management and,
Delivery of your Services.

Researching AR Groups Guide - complete the form to obtain your copy.

This is a guide to what questions you should be asking your potential AR Groups about their operations and how they align to your Vision, how they support you in your new business.

The template allows you to compare the different AR Groups and reduce emotionally charged decisions.

Yes, we will follow you up with a call/SMS but we won't spam you. We are here to help you in this journey, not hinder you.

At this stage it is being sent out manually as we build the automation process!

Alternatively, book an appointment with us to discuss this or learn more about the Align 4 Growth Program.

Need to chat about this? - book appointment

Learn More about Align 4 Growth Program

I'm a new AR in Business (Congratulations!)

This is where the rubber hits the road and after the initial excitement you need to create a business model to align with your Vision.

Again, Congratulations on setting up your business.

Unfortunately for most of us when we first get into business, the reality is that we are great (or awesome and learning) about Brokering but a bit miffed about the other areas of owning a business that keep interrupting us.

The first step is to understand the business model you operate in and the business model you need to create to align to your Vision. If at this stage your Vision has become blurry and muddied in are on track.

We have a business foundation model that can be scaled up and provide consistency throughout your brokering business lifecycle.

Each decision you make is based on and needs to align to your long term Vision. This makes creating strategy and applying it across the multiple business sections easier, more focused and gain traction quicker.

We have developed a coaching supported program where we cover each area of your business and focus on aligning that with your Personal Vision. Each area of your business has its own characteristics and are applied accordingly.

This is not a brokering course, its focus is on non-brokering functions of your business and aligning it to Your Vision.

Some clients just move into business Coaching straight away and then pick up this information on the journey. Keep in mind that this Align 4 Growth Program has been designed for Entering and New AR Businesses to get a quick solid foundation to your business and decisions so that you can get back to focusing on servicing your ideal clients.

YouTube Understanding Your Business Model

Need to chat about this - book appointment

Learn More about Align 4 Growth Program

I'm an established AR looking to align my business for growth.

Looking to grow and capitalise on the coming wave of retirements?

As an established broker and if your Vision is further growth and a fruitful retirement you are always on the look out for opportunities in and outside your business to grow and maximise efficiency and profitability.

This is where business coaching on a fortnightly or weekly basis comes into its own rewards. You usually have quite a set of non-brokering skills as well and excellent broking and personal skills.

The challenges faced now are changing from your original business challenges and your brokering expertise has developed. There is new questions however around staffing, technology, client presentations and retention strategies.

There is also an estimated 30% of the skilled experienced Brokers retiring in the next 3 to 5 years and books of business will be considered to complement natural growth, marketing etc to build up your final revenue base and its business worth.

Is your Vision still aligned to how your business is currently operating?

Explore Coaching Programs

My AR Business is in its Mature Phase

This is where you have support staff and sort of cruising along, but something is missing!

If you are in your Mature phase, this is when you will be experiencing the rewards of your efforts. There is still a lot of things coaching can assist with and a lot of successful business owners have coaches.

The focus has shifted however and depending on your Vision as to how you are dealing with it.

We can value add with resetting Vision, understanding more client and staff motivations and interactions, whilst creating efficiency in your business.

After exploring your Vision and current business, we can consult on whether coaching can be beneficial or depending on your Vision refer you to an appropriate consultant.

We are currently developing a more advanced Business Intelligence Program aimed at this stage of your business journey.

Explore Coaching Programs

I'm an General Insurance AR looking to exit my business

I've done all the hard work and now need to capitalise on it in a structured rewarding way, bringing my legacy to fruition.

Well, the hard work is about to cumulate. Looking forward to resting, travel and all but no phone calls?

Without something to look forward to you will be in a position of indecision.

Having exited active Brokering, we understand the challenges this faces on moving forward but more importantly the options and pitfalls that can arise in exiting your business.

We believe that some coaching specifically around resetting both your personal and business Vision and resetting timelines around exiting can massively impact your end result and happiness with the decision.

This can be achieved with a few coaching sessions designed around exiting Vision and the challenges to be addressed. The focus is on making sure you understand the implications on your Personal life, business, team and clients whilst developing an exit strategy to maximise your legacy.

Let's Discuss the Options

I've retired (sort of) and want to mentor others in their AR Business

Giving Back

We are excited to have been part of the General Insurance Industry and that it provided a wealth of learning, challenges and excitement that dealing with peoples assets and cash-flow can bring.

If you are at a stage where you have retired from active brokering but wish to give back and get paid for your knowledge in a structured process, please reach out to John and have a discussion. You will be surprised that we have a simple AR licensing based model which benefits all parties!

Let's Talk about Coaching!