I'm an Insurance agent; you can buy the policy from me?
Is that enough? No.
Prospects are looking for people who are expert in the field, who have the authority on the subject and finds one credible. Remember people initiate business with those they like and trust.
First things first. How do you build that certainty?
Once you can set the platform and educate the prospects with these aspects, it will reduce the chances of objections you will receive from them.
I have come across many reps who say, 'I'm a great salesperson.' Or 'My closing rates are always around 90%.' However, when I ask them to give more insights or explain the sales process, a blank reaction is what I see.
Some agents don't understand how they got there or understand how to connect with their clients. Your prospect is interested in how you overwhelm them with information, but to have a process they can rely on.
How do you sell yourself
How do you sell yourself to someone else? What is the thing you are good at? What makes you stand out from your competitor? What is your effort on making the prospect trust you and how are you advising them for their benefit and adding value.
As an Insurance agent, it's our responsibility to solve the problems faced by the clients and uncover their needs.
Selling yourself involves developing your elevator pitch and your unique value proposition.
Usually, there are two basic descriptions I get when I ask an Insurance agent to describe yourself:
You have to be creative in selling as enthusiasm and charisma will provide value.
Selling yourself also requires your process. Yes, it takes time to create a process, but it helps to a more significant extent. There will not be the perfect process flow which assures 100% sales closure but having a process promises consistent success in your Insurance career.
What's my Process
I follow a simple process. I would do three things. Educate, Build a custom proposal and then make my recommendation.
I educate the prospects about the answers of any possible question and explain how Insurance works, based on the situation I customize the Insurance suited best for the client and then make our professional recommendation.
Breaking the client's query in phases will make them realize what are you trying to accomplish.
When I educate the clients, I flush out the questions, and I grab the opportunity to educate the client as the way they want.
The recommendation happens based on the clients' specific need.
During the customization, not every client goes with our recommendation. Based on their need, we make the necessary adjustments.
Now coming to the process, it makes you a stand out professional in the field. You have to figure out what process works for you best.
Selling your story
Life Insurance is an emotional purchase and connecting your emotions into a presentation is essential. It is a must to have a personal connection to be an agent every prospect would ask for.
It was a Monday morning and the first meeting of my Rotary club. The mood was a bit dampened as compared to the usual cheerful ambience. Something was going off.
A young woman with two children took over the podium and began to tell us her story. She was a widowed mother now. Tried her best not to cry but it broke out, and she held up a jar asking for our help.
Her husband left her not only with two children but leaving behind a mortgage, credit card loan. Etc. Such happened quite more than often in my club.
Hearing those stories was an inflexion point in my career. I made sure I asked every single prospect about Life Insurance. I kept a jar on my desk as it was a great talking point and most people used to ask me about it, and my answer was explaining why I'm so passionate about Life Insurance.
Selling your product
When you meet an Insurance agent, ask them the most complex financial question to know their understanding skills and also see whether you are ending up in the right hands as well.
You can ask questions about Irrevocable Life Insurance Trust to understand their product knowledge and experience in the field.
Sometimes, small things make a sale. A while ago, a couple came in to shop us on life insurance and were asking questions related to the same. We pitched them about the slabs on the return of life Insurance term policy for the wife and the LTC plan for the husband. Later, they went shopping at other places around; fortunately, other companies had no clue on the LTC plan, and the couple ended shopping with us.
Remember, your job is not only to ask questions but also listen. You have to shut up and identify the needs of prospects and actively listen to them.
Selling your company
Some agents care less about the company and sell insurance only if the base rate is good. These agents are destroying the industry. You are the phase of the company and company is not a commodity. If it would have been a commodity than why are agents required? It's because you provide value to the customer and the Insurance company.
Understand your company well and not every case of yours will get approved by the company, it's best you get to know what is the best thing your company does and work on the same.