The Value of Education for Insurance Agents

The quest for discovery is a key characteristic of top performers. Education allows you to increase your power and influence in the industry. The power I'm referring to is your ability to teach—taking your knowledge and applying it to your client. Application of knowledge is called wisdom. The word "education" itself stems from the Latin word "educationem," which means "to train." How incredible is that? As you increase your knowledge, you also increase your ability to teach and train your clients.

A client can perceive your power in the industry based on your knowledge. The way you deliver and educate your clients demonstrates your expertise. Here is a visual representation: the first bar is your client’s knowledge, and the second bar is your knowledge about the insurance industry.

Hopefully, yours is higher than your client’s. Many agents try to show the client how much they know and teach right at the top of their knowledge level. Teaching this high, beyond the client’s knowledge and at the top of your knowledge, lacks power.

The client does not understand what is being taught and cannot grasp what you are trying to convey. Oftentimes, you are using words specific to the insurance industry that the client does not understand. If a client cannot understand what you are teaching, it is hard for them to see the value and make a purchase.

There is also another issue with teaching at your maximum level of knowledge. If a client asks you questions you do not know the answers to, and you continue to teach beyond your knowledge, you enter the realm of guesswork. This often results in errors and omission claims filed against your agency. There are significant risks associated with teaching beyond your knowledge in the insurance industry.

Another issue is teaching too low. Teaching below the client’s knowledge means the client does not receive value from the conversation. There is no education and no value gained from the discussion. Teaching too low also means they can't perceive your expertise in the industry.

To truly articulate your knowledge and value, you must teach just above their knowledge line. Teaching right above what they know allows a client to understand and grasp the concepts you're teaching. This level of teaching deepens their knowledge and enhances their perception of your expertise in the industry.

Teaching just above their knowledge level means you're not giving away all your power. The difference between the top of your knowledge and where you teach a client is the power of your delivery—the power of how you articulate and make insurance simple for a client to understand. This style of teaching develops trust in you. Over time, as you have multiple reviews with the client, you build the relationship and enhance their insurance knowledge. Allowing a client to learn little by little increases their understanding.

The value of an agent who is on a quest for continuous discovery is that the more you learn, the more you increase the power of your delivery. Increasing power is the great value of education. If you become committed to lifelong education, beyond your required continuing education credits, and truly seek ways to increase your understanding of the industry, you are only going to help your clients.

Education can come from many different forms, such as mentorships, training programs, webinars, seminars, podcasts, and books. Discover new information to increase the power of your delivery, and your clients will be able to perceive your knowledge. You'll develop trust as a professional in the industry. If you would like a list of resources that you can use to increase your knowledge in the industry, comment with the word “discovery,” and I'll send you a list of resources you can use to expand your knowledge.