The Institutes Unveil New Training Program
for Insurance Agencies and Brokerages
The Institutes, the leading insurance education provider for the risk management and property-casualty insurance industry, announced today that they have released a new program for the insurance agent and broker market. The new program, The Institutes Producer Accelerator, featuring Polestar, uses behavior-based sales training and personalized coaching to help agencies and brokerages onboard their producer hires quickly and effectively. As a result of the program, firms will be better able to determine new hires’ likelihood for future success during the critical first six to nine months on the job.
The release of this program coincides with the growing trend of agencies and brokerages struggling not only to hire talent but also to find success with their new producers. Currently, 55 to 60 percent of firms are struggling to hire enough agents and brokers, and only 56 percent of new producer hires are successfully validated.¹
Producers whose employers enroll them in Producer Accelerator will practice four key skill sets: sales training, business skills, risk management and insurance knowledge, and tools to excel on the job. The last skill set is designed so that it can be customized by an organization, helping producers learn about their organization’s specific structure and culture in a formal, mentorship-based format.
“Training new producers is a documented challenge for many insurance firms, and what we’ve found firsthand from working with leading agencies and brokerages is that the crux of the issue comes back to onboarding,” said Peter Miller, CPCU, president and CEO of The Institutes. “We developed this new program to solve the onboarding and training challenge by making it easy for employers to enroll their new hires in an engaging and interactive program that provides them with the tools necessary for success in sales.”
Designed to accommodate busy work and travel schedules, Producer Accelerator is delivered through a centralized, user-friendly digital portal.
For more information about Producer Accelerator, visit The Institutes’ Agency & Brokerage website.
¹ Reagan Consulting, Producer Recruiting & Development: Getting the Attention It Deserves—Achieving the Results You Need, 2014, www.reaganconsulting.com/wp-content/uploads/2015/12/Producer-Recruiting-and-Development-Study.pdf (accessed January 26, 2017).