By: Ashley Wingate, Vice President, Personal Lines
Selling in the insurance industry is not the same as sales in many other industries. Unlike most commodities being sold and advertised, insurance isn’t a choice in most cases, it’s a necessity. Many customers don’t view insurance as something they want to spend money on, but rather something they HAVE to spend money on. So, you’re really trying to counsel your customer into meeting their own coverage needs, even when they don’t want to spend the money. YOU have to be able to flip the conversation into a positive one so they feel like they’re walking away with something tangible, and not just spending their money on a “have to.” After many years working in this industry, here are my top 5 sales tips for insurance advisors:
1. Listen to your clients and their needs.
It’s tempting to just sit down and begin explaining all the benefits of your insurance policies and plans that your agency offers. My suggestion is let the prospect lead the discussion and they will tell you everything you need to know to close the sale. Instead of pitching your product, ask the person you are speaking with about their life and their family or their concerns for the future. They will tell you everything you need to know and then you become an insurance consultant and not just another salesperson.
2. Don’t just be an order taker.
Too many agents fall into this trap. If you follow the first tip and listen to your client and their needs, then you can develop a consultative approach for your client and offer them Insurance solutions for their needs. Also, don’t be afraid to ask them for their business.
3. Make sure your clients know what they are buying from you.
Stop to go over the carrier you have placed them with and highlight the benefits and features that their policy offers them. Most people don’t understand insurance and this is the time to help them understand what they have just bought from your agency. It’s a time for you to shine and a time for you to educate the customer on why they’re better off with proper coverage.
4. Ask for referrals.
Referrals are an awesome way to grow your business and these customers are much easier to close. Think about a referral program for your agency and reward the customers that send you new customers. Independent agents should rely heavily on referrals, because they have the ability to really shop for their clients and customize coverage. You have the chance to foster a more personal relationship with your clients, and therefore a better chance at gaining referrals.
5. Network, network, network.
Take advantage of the opportunity to attend trade shows, work with real estate agents, work with the local PTA, and network with other insurance professionals in your field. These are all great places to make connections and learn from industry leaders and stay up to date on what’s going on in the insurance industry.