Any successful insurance producer must spend a significant amount of time selling, which for many, isn’t the easiest part of the job. And even the most veteran salesperson can always improve and should look for opportunities to polish their sales skills. This article details 10 insurance sales strategies that producers may find valuable.
“It’s not a good time for me.”
“The CFO’s nephew is our broker.”
“I really only care about cost.”
Overcoming objections is one of the toughest part of sales in any industry, and even more so in the largely commoditized insurance field. Producers, whether new or veteran, should devote time regularly to learning new insurance sales strategies and polishing their skills; overcoming objections should be part of that ongoing improvement effort.
In this blog, we’ll examine several strategies for overcoming objections during the sales process. As you’ll see with each tip, practice and preparation are critical to perfecting this sales skill.
Social media is an excellent tool to attract and win more business, and insurance social media strategies are growing in popularity. While most insurance agents use social media to some extent, there are likely strategies you are missing out on. Learn 5 effective insurance social media strategies you should be incorporating into your business.
In a crowded, commoditized market, it’s critical that you know your key competitors, beyond the basics of who they are and their general marketing spiel. Why? Just like every other broker trying to increase their insurance sales, you are constantly looking for an edge, a differentiator that will get you in the door and eventually secure that BOR.
To do so, you must know the strengths, weaknesses, services, solutions and client perceptions of your top competitors, and understand how they stack up to your agency. Incorporating this knowledge into your sales pitch and approach can help you compete better and increase insurance sales.
In this blog, we’ll discuss how to research your competition and put that information into practice, to win more in head-to-head situations and increase insurance sales.
For an employee benefits broker, prospecting often means convincing the employer to fire the incumbent broker. This isn’t an easy task, especially since most brokers are quoting the same plans from the same carriers. However, there are ways to differentiate and show prospects that you can provide better service and support than their current broker.
One of the most effective ways to defeat an incumbent broker is by asking the right questions. Prospects may not respond to a hard sell about what makes your agency superior, but asking targeted questions can accomplish the same goal. This strategy can pique the prospect’s interest, keep them engaged throughout the sales process and help you close the deal.
This blog offers 16 questions to ask your prospect throughout the sales cycle, to help unseat the incumbent broker and secure the BOR.
The employee benefits market today is a highly commoditized one. Most brokers quote the same carriers and plans, and many don’t have a way to differentiate themselves or show value above the competition. Meanwhile, employers today need more and more support from their broker, to help manage soaring costs, understand health care reform, and assist with other critical functions like HR and employee communications.
There are plenty of sales strategies that brokers can employ, from the tried and true cold call, to networking, to inbound digital marketing. This blog will examine 3 unexpected and out-of-the-box strategies to increase insurance sales, while standing out from the pack to make a great first impression on your prospect.
You likely already understand the benefits of selling more ancillary products, but we’ll review here:
- Help clients provide a more comprehensive and competitive benefits package
- Support employee health and productivity
- Earn more broker commission
- Build stronger client relationships by managing more of the employer’s benefits package
With those advantages in mind, we’ll examine some concrete strategies to sell more ancillary benefits products.
In our last blog we examined some of the common reasons employers opt not to offer ancillary coverage options to their employees. However, there are many advantages for employers who provide a comprehensive benefits package to employees. In this blog we’ll discuss how offering ancillary benefits can lead to healthier and more productive employees—benefitting the employer’s bottom line.
As an employee benefits broker, you do your best to advise clients and make recommendations in their best interest. However, we all know that clients don’t always heed that good advice, for one reason or another.
With health costs continuing to rise, many employers are tightening their budget—and that often means forgoing ancillary benefit offerings. However, offering more comprehensive benefits package can save employers dollars in other areas.
In this blog, we’ll look at the importance of offering ancillary benefits as an employer, and how brokers can integrate ancillary into their strategic benefit conversations.