New insurance agents may feel overwhelmed as they begin their career in the highly competitive insurance industry. Here are 10 tips every insurance agent should follow to be an insanely successful insurance salesperson.
New insurance agents generally fall into one of two categories – Brand new without experience, some with sales experience or others with sales experience in the insurance sector. Either way, selling insurance can be tricky, especially if you are an inexperienced insurance agent. Insurance isn’t a product that customers can see, hold or touch, and it can sometimes be expensive. This can make selling insurance policies a challenge for some agents. But these easy-to-implement insurance sales tips can help you sell insurance with ease. Here are ten excellent insurance sales tips for new insurance agents who want to take the next step in their career.
These tips are generalised and can be used by both specialised as well as general insurance agents.
Stop talking about policy features and give benefits
The first and the most important thing about selling insurance is selling the benefits. Features are great, but your prospect may or may not care about all of them. When you are a new insurance agent, its easy to talk about features. However, you must also focus on talking about the product benefits before you deep dive into product features. Always focus on how your prospects will get benefits from what you are offering them.
Help them first
As an insurance agent, you can often get caught up in the need to make your prospect convinced. However, what you really need to do is take time to slow down and try to help each prospect you meet with. Most times, this means helping them to buy a policy through you, but sometimes that may mean walking away from a deal that wouldn’t be in their best interest. Their need must be your topmost priority.
Find a way to relate to your customers
Experienced insurance agents already know this insurance sales tip. It is imperative to find common ground with your prospects. Perhaps you are 26, and your prospect is 67 years old. What could you possibly have in common? You may both have the same taste in sports, perhaps you are from the same town, or maybe you both share a love for your family and friends. Find any relevant common ground and use that to build a rapport with your prospect to boost long-term brand loyalty.
Dress for success
Remember, first impressions count. It is more important to know “What not to wear”. In the insurance world, you are selling trust. Your prospects need to have confidence and faith in you if they are going to buy insurance from you. A professional appearance conveys success and confidence. To your customers, someone who is an insurance agent must know what is he talking about. Dressing professionally will help your prospects to take you more seriously.
Proofread all written communication
While you may unintentionally misspell a word or a phrase in a text message to a friend, in the workplace, you must use proper spellings, vocabulary and punctuations at all times. Make sure you do not use slang words or terminology. Message to your prospects or customers that contains errors represents unprofessionalism. It may reduce both trust and credibility. Hence, make sure that you proofread each email and text message before sending it to customers.
Transparency is key
There is nothing more convincing than openness. As an insurance agent, you need to make sure to be clear, concise and transparent about the policy coverage, benefits, potential risks involved, etc. You must not hide any specific feature or restriction on the product that you are trying to sell. Prospects need to be presented all the information so that they can make an informed decision. Moreover, it is crucial to be transparent with your seniors and peers, in order to effectively achieve your career goals.
Always be prepared
You may not always have answers for each question your prospect asks. It is essential to take time and prepare before every appointment. In the beginning, you may have to do some extra work to learn everything about the insurance products that you are selling. But later, it surely would be a cakewalk. Most importantly, you should let your prospect know if you don’t have an answer for a particular question and get the information from someone who does. Your prospects will respect you for being honest with them.
The insurance sector is extremely competitive. It is important to set yourself apart as other insurance agents may have access to the same products as you do. It is wise to represent yourself as a brand. How you carry yourself, your demeanour, punctuality, the way you speak, will surely help to build your brand. Additionally, you can take the help of resources like LinkedIn to differentiate yourself by sharing informative content. You will be viewed as a true insurance professional and also be on the top of your client’s mind by creating more than one touchpoint.
Listen to your customers
Listening seems to be lost art. It is advisable to develop a habit of active listening rather than just “hearing” what a client says. You must know every bit of your product, but if you aren’t listening to what your client is saying, you are less likely to sell them something they may really need.
Learn from your experienced co-workers
One of our great tips for a new insurance agent is to learn from your experienced co-workers. Ask more experienced agents queries and learn to take advise and helpful criticism. Additionally, persistence is a quality that you must develop in order to succeed in the insurance sector. This is perhaps the most important quality of a good insurance agent.
For the people who believe that success comes overnight, here’s the reality: There is no such thing. It all comes down to managing your expectations and those of your clients. Continue to brush up on your industry knowledge, new insurance products and services. Being an insurance agent can be a tough business, but with smart work, it is highly rewarding.