Bluefire Insurance

A core idea that often gets overlooked in the insurance industry is diversity is strength. And as an independent insurance agent, your ability to adapt means the difference between succeeding and failing in the long run. Fostering diversity, equity, and inclusion — also known as “DEI” — in your own agency means more than just standing up for what’s right: It also means that you’ll build stronger client relationships with America’s increasingly diverse client base for insurance products. 

In this guide, you’ll learn how to build inclusive practices within your agency, how that can serve as an asset for the decades to come and how to become a producer for a company that celebrates diversity. 

Understanding DEI as a Growth Strategy 

Research by McKinsey shows that companies with greater diversity are 35% more likely to have above-average financial returns. But what does this mean for independent agents? 

Improving Business Outcomes for Independent Agents 

Companies that welcome different points of view have an opportunity to: 

• Reach untapped markets: A diverse network gives agents access to communities with varying insurance needs and preferences. It also expands opportunities when it comes to welcoming the opportunity to network with other agents who may have new and different ideas.
• Drive innovation: Different perspectives lead to creative solutions, whether in tailoring policies or improving client engagement.
• Strengthen brand loyalty: Clients increasingly prefer businesses that reflect their values, including inclusivity. 

By prioritizing DEI, you can position yourself as a progressive, community-focused professional. And that’s something your clients will almost certainly appreciate. 

The Intersection of Client Relations and DEI 

Your ability to channel the best practices of DEI into your agency can help you build stronger relationships with your clients, especially those from less-represented backgrounds in historical terms in the U.S. insurance industry. 

Some of the top benefits include avoiding missteps that could harm relationships from a cultural or linguistic difference, personalized solutions available in multilingual text and spoken word, and higher retention by achieving the above. 

If your clients can see that you have taken the time to truly understand their needs while being open to using a translator if necessary to talk in their language, you’ll find that business begins booming. It also makes sense from an insurance agent marketing perspective because, for example, you don’t want to operate an English-only agency in a neighborhood predominately composed of Spanish speakers. 

Benefits of Diverse Partnerships in the Insurance Landscape 

Diversity within your professional network isn’t just about checking a box — it’s about creating value. Building partnerships with individuals from varied backgrounds offers: 

• Broader referral networks: Diverse partners can introduce you to clients and communities you may not have reached otherwise.
• Knowledge sharing: Collaborating with professionals from different demographics and career experiences leads to richer industry insights.
• Improved risk assessment: Understanding cultural nuances helps agents evaluate risks more effectively, leading to better-tailored policies. 

Diversity Beyond the Office: Outreach and Community Engagement 

So, now that you understand the theory behind DEI, it’s time to put these ideas into practice to bolster your sales presence in your community. Independent insurance agents who embrace DEI principles should actively engage in their communities to create lasting, meaningful connections. After all, good communication is one of the most important traits that all agents need. 

Outreach efforts help break barriers, build trust, and establish your agency as a socially responsible and approachable business. Here are specific strategies and examples of how independent agents can incorporate DEI into their community engagement practices: 

• Offer multilingual service: Hire or collaborate with bilingual or multilingual staff to provide services in languages commonly spoken in your area, such as Spanish, Mandarin, or Vietnamese. This could include translating policy documents, having a multilingual website, or using translation tools during consultations.
• Sponsor and attend cultural events in the community: Sponsor a booth at a local cultural festival, such as a Diwali celebration, Hispanic Heritage Month event, or Juneteenth festival. Hand out educational materials about insurance tailored to the unique needs of attendees.
• Support emerging, diverse talent: Launch an internship or scholarship program targeting underrepresented groups, such as women or BIPOC (black, indigenous and people of color) individuals, interested in insurance careers.
• Focus on accessibility: Ensure your office is wheelchair-accessible, offer video consultations for clients with mobility challenges, and provide materials in formats like large print or braille. 

Of course, these are just a few ways to achieve DEI goals in your agency. There are many more — and focusing on how agencies operating in diverse communities achieve sales success can go a long way toward informing your own strategies too! 

Discover a More Diverse Network by Joining Bluefire as an Independent Producer 

By stepping beyond the office and into the community, you can establish yourself as a resource and ally for people from all walks of life. In doing so, your agency becomes more than a business — it becomes a pillar of trust, equity, and inclusion. 

Bluefire Insurance is dedicated to supporting independent agents who value inclusive practices as a cornerstone of their success. Become a producer today!