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Navigating the New Year: Strategies for Growing Your Book of Business in 2024 

With the new year just now starting to get going, you may be wondering about new year business planning, especially if you’re looking at how to grow your insurance book of business. The new year is a wonderful time to reset, take a long, serious look at your business practices, and make changes or updates to better fit your company’s needs for the future.

New Year Business Planning Strategies

With a new year, business planning strategies often get updates. When looking at the overall scope of necessary updates and specific practices to adjust when you are ready to learn how to grow your insurance book of business, there is always some good general advice. That is why we at Health In Tech have compiled this list of the best overall planning tactics and more specific ones for knowing how to grow your insurance book of business.

New Year Business Planning: Overall Tips

No matter what business you may be in, it is good to remember these general tips when looking back on the past year with the plan to set a fresh yearly goal.

Take a Look Back at the Past

To move forward with your new year goals, you have to be able to look backward. 

When reflecting on the past year’s work, it can be easy to focus on where you want to improve in the following year. However, it is essential to take a moment to look at both positives and negatives. Looking at your business’s successes can create a positive mindset as you build your next year’s goals.

Set a New End-of-the-Year Goal

When you set a new goal for your business, you have to consider these three aspects of your work to create a successful plan:

goals infographic

Considering your long-term vision (where you want to be in the future), the mission (what you would like to accomplish), and your values (what is important to you and, by extension, your business) will allow you to articulate a clear goal that fits your business model.

Remember that when you do create a goal, it should be specific. The more precise you can make your goal, the better your strategic plan implementation will become.

Keep Your Goals and Yourself in Check

If you tend towards idealism, it is easy to set exciting but maybe far-reaching goals that are not always necessarily possible within the timeline of a year. Instead of setting one exceptionally high goal, plan for a series of smaller points that build up to the primary goal.

It is also important to consider exactly what success is to you and your business model. When people say business goals, it usually revolves around money. However, that is not the only type of goal to set. Community involvement, business longevity, how green your business can be, and other factors can help you decide how you measure personal success.

Create Your Implementation Strategy

Once you have an attainable but exciting goal, you must figure out how to bring it all together.

One thing that often gets overlooked is the choice to celebrate milestones, big or small. Planning for some kind of reward – for yourself or a team – when goals are hit can also inspire individuals to work harder to continue to meet their goals.

New Year Business Planning:  How To Grow Your Insurance Book Of Business 

If you’re already an established broker, growing your book of business may be something new for you or a skill you haven’t had to brush up on in quite a while. If you feel like you’re hitting a plateau in growth, you may want to take some time this year to focus on expanding out some. 

Embrace New Technologies 

With constant innovations and updates to the market, you can’t get stuck behind in the past using outdated materials. Learning about the latest technologies is crucial, or you risk falling behind and becoming uncompetitive.

Adapting to new technology might feel overwhelming initially, but breaking it down into small steps can help make learning how to use these updated tools into more manageable tasks. It also helps to work with user-friendly interfaces, such as Health in Tech’s easy-to-use systems. To learn about our eDIYBS platform, which is one of the most cutting-edge tools in the industry, click here. 

By taking even the smallest steps towards digitalization, you will be able to understand modern terminology better and keep yourself from getting left behind. This can be as simple as using social media platforms to connect with more clients and share insights.

Make Yourself Future-Proof

As part of embracing new technologies, you are showing new and old clients that you are adaptable long-term, which allows them to put greater faith in you as a broker long-term.

For example, Health in Tech offers a group underwriting program that is fully customizable, offering plans with associations, community / provider-based, direct primary care, and much more. This includes access to 50 national PPOs and direct contracts and can be written in 47 states. 

By learning to use these technologies, you can better focus on what’s important to you, such as building and maintaining relationships and growing your insurance book of business.

Consider Your Unique Features

What makes your business unique? Why do individuals continue to come back to you for their broker needs? When you can answer those questions, you can use that to capitalize on it long-term. 

Every broker is unique, and there is no one-size-fits-all, which is why you shouldn’t be afraid to learn what makes your business practices special.

Navigating the New Year: Strategies for Growing Your Book of Business in 2024 with Health in Tech

Health In Tech believes in transparency, which is why we are always available to help those interested in learning more about our services. Whether you’re interested in better understanding the benefits of this network or just want to know more about Health In Tech in general, contact us today!

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