Dynamis Blog

Q1 Insurance Sales Strategies You Need to Know

Posted by TomRoshar on Feb 14, 2017 6:00:00 AM

Q1 Insurance Sales Strategies You Need to Know

The beginning of the year offers unique opportunities for prospecting and working toward your sales goals. This blog examines several timely insurance sales strategies you should know.

Don’t get complacent

While most brokers have sales goals and other objectives to hit for the coming year, many choose to take it easy the first couple months. Q4 is a stressful time, and besides, you have all year to hit your numbers.

I would recommend not taking a lot of time off or getting complacent this time of year. For one thing, that makes you vulnerable to a competitor stealing your accounts. Plus, you’re missing an excellent (but time-sensitive) prospecting opportunity. The next section will go into this topic in more depth.


Target unhappy employers

Q1 offers a unique prospecting strategy. Because their last renewal is fresh in their minds, employers may be more susceptible to switching brokers. This situation exists for any employers who were less than satisfied with their renewal. Presenting a superior alternative can be very convincing when the “pain” of their last renewal is so fresh.

(Note that while this is a great prospecting opportunity for you, other brokers may be doing the same and targeting your clients. Make sure you are protecting against this by maintaining contact with clients and evaluating your own process.)


Evaluate your own renewal process

The beginning of the year is a great time to evaluate your own renewal process, either agency-wide or personally. Since you have the recent experience of last year’s renewal season, you have plenty of data to work with. Plus, it’s smart to do this, to proactively find areas for improvement and avoid getting business taken by a competitor. Consider these suggestions:

  • Send clients a quick survey gauging their satisfaction with their last renewal
  • Upgrade outdated processes with modern technology, to provide an even better renewal experience
  • Take client feedback and make adjustments
  • Spend time with any clients who weren’t as satisfied, to ensure you’re not vulnerable to a competitor


Practice makes perfect

No matter how long you’ve been in the business, every producer has opportunities for improvement. Use the beginning of the year to up your game and ensure maximum success for the year ahead. You may consider seeking out a mentor, or asking your sales manager for suggestions on how you can improve. Perhaps you want to add some practice and “mock” presentations to polish your skills generally or prepare for a particularly large account. Engage your colleagues and manager(s), and make an effort to better yourself.

Want more insurance sales strategies to start your year off strong? Check out this guide and checklist to stealing more BORs.

Steal Some BORs 


Topics: Differentiation, Sales/Prospecting, Operations