“Strategy is not the consequence of planning, but the opposite: it’s a starting point.” — Henry Mintzberg, pioneer of modern management theory
Think back to the reason you started your insurance agency. Was it to become a trusted advisor in the community? To create a more secure future? Whatever the reasons for launching an agency, transferring that vision into a successful business requires a strategic plan. Whether the plan is brand new or weathered, there’s no time like the present to ensure the strategy is clear and advances agency value for the long-term.
There are three parts to building a strong, strategic plan:
Part 1: Analyze the agency and build the framework
The first step to creating a sound strategic plan is to recognize where the business is today. Consider if there is defined vision for the future that the whole agency can communicate. Is there a plan for innovation, unexpected market shifts, or next generation leaders? Would employees describe the culture as engaging and inspiring? Would you want to work there?
After assessing what already exists and where there are gaps, it’s time to create the framework of the business mission (why the agency exists); vision (what the agency should be known for) and values (how to operate, make decisions, and interact with staff, clients, and community).
Part 2: Define where the business should go and how to get there
To drive desired results, start by setting a combination of long-term and short-term objectives. Goals should typically be in three-year increments that help the firm identify and/or achieve:
- Desired reputation and market position.
- New markets or client segments.
- Operational improvements and effective technology.
- Talent needs and skills gaps.
- World-class client experience.
- Marketing strategies and partnerships.
- Ambitious but achievable revenue targets.
- Roadblocks to executing the strategy.
- Leadership development programs.
Once goals are identified, launch initiatives containing the WHAT and the HOW to make progress. For example, a firm that sets a goal of growing revenue by 25% in three years might use strategies (the WHAT) and initiatives (the HOW) such as:
| The Goal | The What | The How |
|---|---|---|
| Grow revenue by 25% in 3 years | Expand commercial middle-market segment. | Hire two new producers focused on commercial accounts. |
| Increase cross-sell ratio by 15%. | Implement a referral rewards program. | |
| Develop niche marketing for contractors and real estate investors. | Launch quarterly digital campaigns. |
Part 3: Communicate, evaluate and adjust, then celebrate
Meet with leadership from each function to review, discuss, and answer questions. Make any necessary adjustments and document the plan. Ensure the entire staff knows where to find the strategy, their role in driving success, and how their performance will be measured. Track progress, then recognize and reward teams so staff are motivated to go even further in delivering results.
It’s best to re-evaluate and adjust (if necessary) on a quarterly basis. Think of strategic planning as a living, breathing framework – it guides decisions, but it’s never really done. This isn’t a bad thing! It offers flexibility and the ability to shift when necessary.
Revisiting – and refreshing – your plan today can transform your year. The business will be ready, no matter what challenges or conditions come along. You got this!
Plan for In Motion 2026
This article is based on a presentation given by Christine Marciano, CIC, at In Motion 2025. Every year, the FirstChoice In Motion Annual Member Conference brings together top-performing insurance agency owners and producers for interactive educational sessions, panel discussions and workshops led by industry trailblazers.
If you are a FirstChoice member and missed this year’s In Motion conference, save the date for In Motion 2026 on October 14-16, 2026, in National Harbor, Maryland.
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