“People do not apply for agency owner opportunities. The way that you find candidates is definitely by hunting. Referrals is our number one source”, says Regan.
“Going to current agency owners and asking for referrals is critical. We have sales leaders that are in the community. Being in the community is critical.”
Regan charts his own career journey from Deloitte accountant in to the insurance sector. Inspired by his father-in-law, Regan talks through his experience of owning his own Insurance Agency before moving in to an in-house Talent Acquisition role.
“The success of my agency was dependent upon my ability to do the work and I wasn't afraid to do the work. I'm a big believer in systems processes. It is about managing your sales pipeline and your funnel.”
Highlighting American Family Insurance’s history and growth over the past 10 years to being a Fortune 300 company with $14.5bn in revenue, Regan shares the current distribution model and the importance of financial strength as a Mutual Insurance company.
“We've purchased, acquired and merged with several companies and have many ways that we distribute insurance. We have exclusive and independent agency owners. We have partners like Progressive, Geico and Costco and then we've got direct to consumer.”
“We’re not publicly traded. Financial strength is critical so that we can be there when our customers need us.”
Regan discusses hiring 3000 people in to the organization and how his own experience helps in recruiting 250 exclusive agency owners. Regan outlines the benefits of being an agency owner, the support on offer and the traits he looks for in those that are considering that option.
“Our goal is that within a five year period, 60 to 70% of our agency owners are successful financially. An agency owner has to be willing to do what it takes to start a business. We will be in their corner and support them as much as they allow us to support them.”
“Grit is probably the number one factor I'm looking and folks that are willing to stay true to the process. Some of our most successful agency owners were former teachers. The reason teachers are good is because insurance is not about selling to people. It is about teaching and educating.”
Regan concludes by sharing his love for talent acquisition and the opportunity he has to impact people’s lives.
“Whether it's an agency owner or an employee, this should be a life changing experience. I think sometimes in talent acquisition we think they're just swapping that job for this job. We’re not making widgets, we are changing people's lives.”
Connect with Regan Fackrell on LinkedIn, email rfackrel@amfam.com or find out more about American Family Insurance
The Insurance Coffee House Podcast is hosted by Nick Hoadley, CEO, Insurance Search, the Executive Search Consultancy for growing Insurance and Insurtech businesses around the globe.
To discuss identifying & attracting the very best talent to your team or being a podcast guest, reach out to Nick via nick.hoadley@insurance-search.com
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