The Real Competitor For Insurance Brokers Is………………..

competitionInsurance brokers fight a daily battle to gain new clients. It’s a tough business. You only get paid when you win, which is not that often. With an average closing ratio of less than 10% for group health insurance sales, one must wonder what is the main competition facing independent business men and women in the rough and tumble world of insurance sales?

“Your real competition is always the status quo.”

“The power of the status quo is a fact of physics. Newton’s first law of motion states that an object at rest will remain at rest unless acted on by an unbalanced force. Like Newton’s objects, people have a natural tendency to keep on doing what they’re doing. Almost everyone resists change. In the absence of an unbalanced force, people will maintain their status quo.”

SOURCE: Employee Benefit Advisor – Nelson Griswold, June 15, 2016 issue