How to sell insurance on value instead of price

Insurance Value vs Insurance Price

Your profile as an insurance agent is to make a lot of sales. That is an important sign of success in this line of work. Day in and day out, you have to keep pushing forward with your leads in order to convert them in to actual sales.

Making sales based on price is really simple. However, it makes you no different from dozens of other insurance agents whose main goal is to secure their commission. Think about it, you speak to your prospect and you literally give them nothing to go by but the price of the product. We all like to think that this is all it takes, but honestly the real world doesn’t work like that.

A customer has one job only. And that is to be wowed in to wanting to buy that product because they see the value it adds to their life. So, it is very important to show your customers that you actually do care about their well-being. Take the time to get to know them. Break down the pros and cons of each insurance plan. Have a conversation about claim.

After you have a clear enough picture of what their lifestyle is like, drive a point using something they recently bought. Maybe it is an expensive TV or a top of the line car. Ask them why the bought that product. The obvious answer anyone would give you is quality. The more you pay, the better-quality product you get. So naturally shouldn’t insurance get the same kind of treatment? Life is unpredictable and insurance helps you be prepared for the worst – case scenario. Is this not a necessity? Pay a higher premium, and in an unlikely event of illness or accident, you get more coverage. And that goes a long way.

A good insurance agent pays attention to exactly what his clients need. Communicate with your clients in a way that they prefer. If email is a preferred mode of communication, then do not waste your time calling them. The goal is to always be available without being irritating. If a client wants an answer to a question, always research and give them your best, most accurate answer. Do not rush and give them a wrong quote or a wrong fact, just because you want to close the deal quickly. The best kind of communication is always a face to face meeting. It is the most effective and there is no scope for misunderstandings.

The truth is a lot of people do not understand much about insurance. This could be a major reason why most people do not want to spend too much on it. Why spend money on something that we don’t understand? So, as an insurance agent it is your job, to educate your prospects on insurance. You are an expert in this field, so show your expertise without getting too technical. If a client qualifies for a particular scheme show them how this scheme could benefit them. Clients love benefits. Everybody loves benefits especially when they stand to gain them.

When you share more information about your experience as an insurance agent, the clients will see it as a reason to trust you. Tell them how long you’ve been in this field. Assure them that you know everything there is to know about insurance. Clients will always have more faith in an experienced expert.

Always show your qualifications and credentials as an insurance agent, even if a client doesn’t ask for it. Too many people worry about being duped by a fraudulent agent. Remove the doubt from their minds by showing that you are educated and well – trained.

Ask your clients to follow your social media. If you put out well thought out content through graphics, stats and blogs, you are giving your clients content to consume and think about. The more time they spend thinking about you, the more likely they will want to invest with you.

If a client is reluctant to go ahead and make a purchase, inquire about their previous insurance experience if any. If they had a bad experience in the past, reassure them why it won’t be a bad experience with you, and try to differentiate between you and the other agent, by shedding light on what went wrong and why that won’t happen with you.

At the end of the day, the only thing that sells is something different from the rest. So always think up new ways to be different. Always share these different ways with your clients. You are building what is hopefully a long-term relationship. It is important that your clients understand and recognize your conviction to nurture this relationship.

Read more How videos adds value to your insurance business

Read more Qualities of a successful insurance agent

Read more How can you grow your business by paying attention to what your customer say on social media

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