Insurance Marketing Organizations – also called Independent Marketing Organizations – can be a useful tool for insurance agencies. There are many different IMOs to pick from, and you may be wondering how to decide which IMO is best for your agency’s needs.
Confused by IMO vs FMO vs NMO? Don’t be! They are basically the same… but in Life Insurance, marketing orgs are typically called IMO’s, in the Medicare space, they are called FMO, and National Marketing Organizations is yet another acronym created to be more general. Welcome to acronym-land!
When it comes to IMOs, not all are created equal. Some offer more benefits and advantages to their customers, and it makes sense to find the IMO that can offer the most for your budget. IMOs that offer training and licensing programs have an advantage.
Read on to learn three reasons why and then reach out to the experts at Agent Careers to learn more.
Why do IMOs With Training and Licensing Programs Have an Advantage?
There are three essential reasons why IMOs with training and licensing programs have an advantage over ones that do not offer these programs.
3 Reasons why
- Proactive Training Programs Fill Unknown Gaps – IMOs that offer training and licensing programs can help get ahead of training needs by offering sessions before you know they are needed. For example, many IMOs offer training on products, which makes sense. However, some also offer sales training, which can be game-changing for new and seasoned agents alike. Many agents will not ask for sales training, but it could reinforce best practices or teach new concepts if offered. The NAIC operates the National Insurance Producer Registry, and your IMO can teach more about the Registry during licensing courses.
- Product Experts on Staff – IMOs with training and licensing programs are also more likely to have insurance product experts on staff – people who have actually worked for carriers or developing products hand-in-hand with carriers. This kind of experience is invaluable when it comes to a training and licensing program for agents. Working with an IMO with a strong training and licensing program means it has experts on staff who can teach, guide, and share expert knowledge, which gives the IMO a distinct advantage over IMOs with less experienced staff.
- Ongoing Brand and Marketing Support – IMOs that offer training and licensing programs are likely to have comprehensive ongoing marketing support to offer to their clients. This often means continuing education programs, networking events, sales support, and updates on sales and marketing trends. A strong level of ongoing professional brand and marketing support can be integral to the success of an agency and its licensed agents.
Finding the right IMO for your needs is critical, and an IMO that offers a comprehensive training and licensing program may be the best fit for your agency. IMOs are all different, and they offer varying levels of support, so it is essential to shop around and compare your options. Get support from the experts at Agent Careers if you are looking for an IMO that offers training and licensing support.
Need help recruiting?
To learn more about why IMOs with training and licensing programs have an advantage, contact the experts at Agent Careers. We’re happy to answer any questions you have.