Insurance Agency
 min read

How Insurance Agencies Can Bring in an Extra 60K of Business Per Month with Tyler Woodall of The Win Agency

Published on
November 13, 2023
Ray Huang
Head of Marketing

Ray is the Head of Marketing at Canopy Connect and has helped dozens of startups and growth companies over his 20-year career to develop strategies and implement tactics that yield high-impact results.

I recently sat down with Tyler Woodall of The Win Agency where we talked about a simple way for insurance agencies to bring in extra business each month—on less than ten hours of work a week.

I highly recommend checking out the full video, but here’s a breakdown of a few insights Tyler shared:

4 Steps to Running an Insurance Agency 

When it comes to selling insurance, the process may seem complex, but in reality, there are just a few key steps to focus on. 

  • First, you handle new quotes for potential customers who are seeking insurance coverage. This involves assessing their needs and providing them with accurate and competitive quotes.
  • Next, you need to re-shop your renewals to guarantee that your existing customers continue to receive the best coverage and rates.
  • In addition to sales, you also handle various customer service tasks that arise, such as processing mortgagee changes, issuing ID cards, and providing certificates of insurance. These tasks require attention to detail and prompt response to maintain customer satisfaction.
  • Keeping your team happy and motivated is crucial as they manage the back-end operations, allowing you to focus on sales and customer service. A positive and efficient team environment contributes to the overall success of your insurance agency.

Unlike other industries that deal with logistics or quality control, the insurance business is relatively straightforward. It revolves around a simple agreement, represented by a piece of paper and a handshake promise. But where do you go from there? How do you build up business when there are only so many avenues available?

5 Key Steps to Writing New Business

Here’s Tyler's five steps to writing new business for your agency every month—without investing time you don’t have:

  1. One effective strategy he recommends is a "quotes not sold" campaign. If you have a list of leads that you previously quoted but didn't convert into customers, it's time to act. Start by uploading these leads into a new pipeline in your CRM.
  2. Then, launch an SMS and email campaign to engage with these potential customers. Educate them about your offerings and address any concerns they may have, such as rate increases. Provide them with resources like your Canopy Connect link to easily transfer their data into your system.
  3. Streamline the process by using a standard operating procedure and leveraging virtual assistants (VAs) to run quotes and compile the information in a consistent manner.
  4. Once the quotes are ready, consider recording personalized video proposals using tools like Loom. This saves time compared to lengthy phone calls and allows you to deliver the proposals at your convenience. 
  5. Follow up with leads and increase your chances of converting them into satisfied customers.
Breaking it Down

Here’s how combining VAs and tech like Canopy Connect can result in an extra 60K of business per month:

“Let's say you've got a thousand quotes not sold and you start sending out texts and you're able to get 50 quotes per month, that'd take you six hours per week once you start presenting everybody. If you've got a 25% close ratio and your average household is $5,000, which honestly all of this stuff is really low-end. That's almost $60,000 in new business.”
Tyler Woodall, The Win Agency

Check out the full video below for SMS templates recommended by Tyler, and the inside scoop on Canopy Connect’s latest capability.

Interested in virtual assistants? Head over to Agency Aid.

Update Your Sales Process

Looking to free up some of your time but not quite ready to take on VAs? Look no further than Canopy Connect's data retrieval process. By integrating our solution into your existing workflow, you can effortlessly retrieve verified insurance information without spending valuable time on the phone.

With Canopy Connect, you can reclaim your time and focus on what truly matters—growing your business and serving your clients. Experience the convenience and time-saving benefits of Canopy Connect today.

Check out our success with other agencies.