You and your agency have just landed some new business and it's time to celebrate, but not until you've gifted your new clients with the perfect welcome kit. Welcome kits work both ways. They arm the new customer with all kinds of valuable information that they may need while doing business with you, and they also make you and your agency look polished and prepared, which is always a great look.
Typically, your welcome kit will contain information that you physically go over with your clients in-person, but feel free to include lots of one-sheets, agency swag and easy to find contact information. You just want to have something that you can present to the client as a courteous time-saver and something that says you're thinking ahead and already working for them. The list of what you can include is endless and can get as personalized as you like, but here are a few of the things we think every agency welcome kit should have in it. 1. CLIENT POLICY DOCUMENTS You should always print out a copy of your client's policy for them before they leave your office. This gives you an opportunity to walk them through it and show them where they can find all of the pertinent info they may need moving forward. It's also an incentive for them to hold onto the packet for good, so you can pack it with lots of other goodies. 2. LIST OF OTHER PRODUCTS YOU SELL This is a great segue to lightly pitch clients on your other available products in passing. Take a few minutes to go over what ELSE your client can get from your agency. "If you decide you'd like to insure your home or auto as well, here's some info on the policies we offer. Just give us a call any time and we can talk about adding them." This could prevent your clients from searching elsewhere if and when the need for more insurance arises. 3. IMPORTANT CONTACT INFO Save your new clients some time by compiling a list of all of your agency contact info as well as their carrier information in case they have questions. Things like numbers for filing claims, emergency contact info and numbers for billing questions. This is also a good place to add website and social media information so you can suggest and explain the benefits of your client following you and your agency online. 4. ONLINE ACCOUNT SETUP INFO Personally, we've found this to be a huge time saver for people who like to do business online. This means setting up accounts for new coverage and having to close out old accounts, which can be a pain. If you provide quick links to get started, clients will appreciate not having to search blindly to do so on their own. 5. REFERRAL PROGRAM INFO Quickly throwing in some information about your agency's referral program is a great way to raise awareness and interest for new clients. Show new clients HOW they can refer clients, WHAT the clients they refer will receive and WHAT your client gets as a REWARD when they refer someone. Include any reward cards or other referral lists or business info that your client might need. Welcome kits are an excellent opportunity to package relevant documents and to add value when a new customer signs on. You can always feel free to add promotional products like magnets, pens or ID card holders if that's something your agency has available. They're a small touch that can go a long way in the end.
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The single most frustrating part of selling insurance is selling it. Some people think insurance agents are simply selling exaggerated "what if" scenarios for profit. Some people think it's fear mongering at its finest, when really, what most agents are trying to do is offer protection and security for families in the unforeseen face of tragedy.
I have a very close friend who lost everything in an apartment fire a while back. She'd heard of renter's insurance but never really thought she'd need it and money for something didn't really need at the moment was just not available. The night of the fire she said she laid in the middle of the street sobbing as firefighters fought the blaze. The only things she made it our with was herself, her pets and regret. It took her years to put her life back together, physically and financially and now that she's a homeowner, she will never take that chance again. We've all heard stories. We know people who've experienced terrible luck when it comes to natural disasters or accidents in the home. Some were prepared and some were not. People who thought they'd made enough preparations and some who thought they didn't need to prepare. Either way, both found themselves sobbing in the street, the only difference is that some were going to have a much easier recovery than others because they were insured. Here are a few reasons why some people hesitate to go all in on homeowner's insurance. 1. IT'S EXPENSIVE The cost of homeowner's insurance depends on several factors. Things like where you live - not only what state and town you live in, but also, is your home near a river that could floor or is it by a forest that's a risk for wildfires? The size of the home, construction type and costs for reconstruction of the home should something happen. Also, how expensive is it for you to get building materials to your home? People who live in remote areas will pay more for construction, so that all gets factored in as well. 2. IT ISN'T MANDATORY Most people who've sat down and signed a mortgage for their home most likely did so sweating bullets. It's a massive investment and an ever larger long term commitment. Soon most of your money will soon be going toward paying the mortgage or updates about be made on your home. It's likely that many people either plan to purchase homeowners insurance once they're more financially stable and either never do, or don't purchase it in time. 3. IT'S A "SCAM" Many people, homeowner's included, feel that the stories insurance agents tell clients to get their business aren't trustworthy. They feel that once an agent gets their business, they may not be much help on the back end should disaster strike. Claims adjusters get a really bad rap for being the middleman on cases where customers don't come out happy on the other end. But it's important to note that every situation is different and most of the time clients are very happy with the outcome. Whether you're trying to sell insurance to homeowners or you're a homeowner currently going without insurance for any one of these reasons, keep in mind what's at stake here. Yes, you could go for years without needing homeowner's insurance, but in the event that you should one day need it, you'll be very glad that your home and the possessions in it are protected. This post was written by Fran Majidi for SmartFinancial.com on November 3, 2020
Following up is a key element of success for insurance agents. Those who think that all is lost after one phone call that doesn’t end in a sale are sure to waste money on leads and in generating leads. Following up ensures continuity in any relationship and especially so in insurance. The right follow-up strategy prevents clients from considering other options and jumping ship. It’s also an opportunity to determine if life changes mean that a client needs more insurance products or if they are eligible for any discounts. Make this relationship an honest one and it’ll stay strong. Neglect it, and it may be gone. While there are many reasons to follow up with a client, unless you have truly developed a personal relationship with that person, you don’t want to over do it either. We have some tips below on how often and when to follow up with a lead. But first, make sure you’re buying the best quality insurance leads in the business. You deserve a high contact rate and the best chances of making a sale. Now, let’s take a closer look at when and how to follow up with a lead. The Double-Tap Method The double-tap method is to call the lead twice in a row if the lead doesn’t pick up the first time. Do you pick up the phone when you don’t know who it is? The first time you call, the lead sees a number they don’t recognize. They are likely to ignore it or let it roll over into voicemail. Don’t leave a message. Call a second time, and they are more likely to pick up thinking it’s not something to put off. Treat the matter like it’s urgent, and you’ll get them a quote quicker. Remember that this person asked for a quote. Hardly ever are SmartFinancial leads bogus. But what often happens is that Internet generated leads are hoping everything will be done without even speaking with another human being. Obviously, that’s not how it works. So, now that you’ve established that making contact is most important, try the double-tap method to ensure contact. The rest is up to you. Follow Up with a Quote Follow up with an email and text that provides a quote. Always send the numbers. It’s not good to pussy foot around pricing when chances are they are looking for the lowest rate. You want to send the lowest pricing possible until you speak with the customer, just to get the lead on the phone. Pitch price, only at first, by quoting liability only, until you know what other coverages they will add on after you consult with them. Don’t Stop Keep all your appointments, be punctual and keep following up. if you have one fishing pole in the water, you can only get one fish, but if you have six poles in the water, you can get up to six fish. Put more poles in the water to sell more policies. Get your producers to follow up. You’ve got to keep calling and juggling the different touch points according to the follow-up procedures below. Follow-Up Timeline and Best Practices Week One: Touch base four to six times. So that means you’re texting, emailing and calling. Utilize all touches for a week, and see which method the client prefers. It may seem like you’re going overboard spending that much time on one lead, but this is how it has to be if you want to make the sale. Week Two: Scale down to contacting the lead with two to three touches a day. Give them a little breathing room because more agents are contacting them by now. Week Three: Get ready to ramp back up because less agents are now calling the lead. You’re more likely to make contact now that the lead is not bombarded, and there’s a 60% closing ratio with these older leads. This is why you don’t want to ever lose touch with old leads. They still hold value after three weeks, a month. After a Month: You should be using a CRM to follow up on leads by now. If you aren’t, it’s time to make the investment. Put all your leads in the system and have an automatic dialer and producers call until you get a yes or no. Ex-Dates: If you know a lead’s policy is expiring, you should add that person to your CRM as an ex-date. There should be a file for clients whose policies haven’t expired yet. Call the lead two weeks before the ex date so you can take payment information and ensure that there’s no lapse in coverage. Sometimes, letters are required to cancel policy, so make sure to give the process adequate time. Existing Clients: Offer an insurance review before every renewal so you can have an in-depth conversation with your client to catch up and see what their new needs may be. Do they have a new child, a new home or new career? They may need new insurance lines for protection. You must check in with a thorough review. New Clients: It’s important to follow up after you’ve sold the policy to ask if the client got their ID and necessary paperwork. Ask the client if they have questions, be patient and courteous. Check in a month later and always before renewal a month in advance and do a full review. You never know what may have changed in a person’s life in six months. Most importantly, remain persistent on leads, and don’t give up. As soon as you give up, someone else will close the sale. No matter what profession you're in, you're going to have have rough days here and there. Selling insurance is no exception. You're always going to have days where you question what you do and why you do it. For insurance agents, it's important to remember that while you're building a life for yourself and your family through your profession, you're providing so much more to your clients. Sometimes all you need is a shift in perspective and a reminder of how it feels when you're successful in helping your clients. If you or an agent you know is struggling in the industry lately, here are a few notes that might help them get back on track. We think it's safe to say that not everyone lands in a dream job that suits their personality while flawlessly and simultaneously meeting all of their financial needs right out of the gate. For most of us, there may be a handful of jobs or careers that we try out while hoping that one day we'll find what we're truly meant to do or what will truly suit our own definition of purpose.
For people in the insurance industry, there are few key things that can help you identify whether or not being an insurance sales agent is right for you. Do any of the issues below describe you? #1 - IT'S JUST A PAYCHECK It's true that selling insurance can be a very lucrative career, but if you're only in the industry for the money, you may want to look elsewhere. Most people would classify that as a job. If you want to work toward something long-term, like providing for your family or building your own career, insurance could truly be for you. #2 - YOU THINK YOU'LL GET RICH QUICK You’re not going to be making a ton of money selling insurance overnight. In fact, most veteran agents will tell you that they didn't make a ton of money when they were just starting out. Agents who are making a lot of money selling are doing so because they've spent years networking, pounding the pavement and building successful relationships with clients. #3 - YOU PRIORITIZE PRICE OVER VALUE If you're more concerned about the rates you're negotiating with your clients than you are with the service and the quality of the coverage you're providing, you're setting yourself up to fail. Clients will be able to sense whether or not you're there to help them or to drive up costs on them. And it's the fastest possible way to lose business. #4 - YOU NEED CONSTANT SUPERVISION Your managers and recruiters can truly only help you so much, no matter what they promise. Selling insurance requires you to be a motivated, self-starter. Successful agents are ready to hit the ground running, ready to learn and are ready to be as independent as they're called upon to be. If you're someone who needs a certain degree of hand-holding to do your job, this one isn't for you. #5 - SALES AND MARKETING AREN'T YOUR THING Sitting in an office and quoting rates to people who call you by chance isn't a successful sales strategy. Truly successful agents know that their role is as much about sales and marketing as it is about writing policies. As an agent, you're essentially a business owner who needs to always be reaching new clients and presenting them with your product in creative, impactful ways. Selling insurance is certainly a dream career for some, but just like we're not all born to be starting centers in the NBA or Navy Seals, we're not always cut out for something just because we think we want to be. Make sure that you take a good look and the ins and outs of selling insurance before you commit too much of your time and energy on it. For the third year in a row, Liberty Mutual and Safeco Insurance have teamed up for Agent For The Future which recognizes 20 standout independent insurance agents in the game. They choose insurance leaders who are making strides in marketing, technology, products and people. We took a peek through their list and have cherry picked the best tips from the group. Take a look below and see if you're on the same page as any of these rockstar agents.
1. CHRIS PARADISO - PARADISO FINANCIAL & INSURANCE SERVICES Chris Paradiso has some excellent advice for agents trying to create a larger presence for themselves on digital media. He suggests agents and agencies should create a brand guide, diligently track their numbers, keep their website updated and be active on Facebook. He also recommends creating an app for your agency. An app creates an entirely new level of virtual service and convenience for your customers and it doesn't cost a fortune to have one made. 2. BRADLEY FLOWERS - PORTAL INSURANCE Flowers feels that independent agents sometimes lose clients to direct carriers, not because their product is inferior, but because larger carriers make customer communication and online purchasing more efficient. He suggests focusing on the ways your CLIENT wants to do business and those ways are largely through text, email and other automated processes. Asking your client how they prefer to receive content and reminders is a great way to know what's easiest and what works best for them. 3. TRACY COTTON - MORROW INSURANCE AGENCY Tracy Cotton is a Farm and Small Business Account Executive who contends that learning the language of your niche is vital. As an agent who focuses largely on farms, food manufacturing and retail, restaurants and craft breweries, she learned that she needed to be able to communicate with her clients about what they needed on their terms. So just like an homeowner's insurance agent wouldn't go looking for clients at a boat show, she adapted and sought out new ways to meet prospects by going to farmer's markets, breweries, wineries and new restaurants. She began learning about the things her clients were passionate about as a way to learn how to bring them better service. 4. ASHLEY WHITNEY - HARBOR/BRENN INSURANCE AGENCIES Whitney, whose agencies are located in northern Michigan, aims for her agencies to be a top pick for employees. She's passionate about creating value from the inside of her agencies OUT to her customers. She believes that making sure her employees understand that they're there at work for a purpose, not just a paycheck, is a game changer. She likes for every employee to know that their voice is important and should be heard, which leads to greater company morale overall. Gaining insight from other agents in the field is an important way to stay relevant and to make sure you're always trying new things when it seems that something has stalled out. You always have to be willing to dig in and learn from others in order to keep growing. These 4 Agents For The Future are continually growing and definitely on their way to great things. It would seem that since Americans aren't able to put a car on the road unless they have proof of owning auto insurance, selling and servicing it would be hot all year long. But as it turns out, November has a few key dates that make securing a rate in this month the best time to buy. Sure people are doing lots of their holiday shopping in this month, but that's not all.
Studies suggest that weather is one major factor in this equation. Many states in our nation begin to see snow as early as late October which means they're gearing up to make sure they're prepared for treacherous driving conditions. Sure, studded snow tires, snow brushes and windshield deicers are on every driver's list if they live in a place with snow covered roads, but most drivers are also thinking about the big picture this time of year. Icy roads pose real hazards for drivers, so this is the time they go over their policies. This means it's time to potentially renew, change or even drop policies or carriers. Agents should look at this time of year as a time to strike with new deals and outstanding offers if possible. Another reason November is a hot month for auto insurance is because of commercial shopping deals for the holidays. With Black Friday, Cyber Monday and Small Business Saturday all piled on at the end of the month, why wouldn't car owners take advantage and secure a great new rate if possible? Whether you're with a large carrier or at a small independent agency, it'd be wise to explore any opportunities that will help you take advantage of these popular shopping days and promote deals if you have them. Studies have also shown that November 11th, Veteran's Day, is the best day of the year (Black Friday and Thanksgiving are the next best) to find deals on a used car. Lots of dealers begin offering year-end deals this time of year. Naturally, if that's the case, auto insurance is going to be an integral part of those purchases. These are just a few reasons why drivers may be compelled to adjust their auto insurance in November. Of course there could be a laundry list of things that motivate drivers to make a change, but if you've got customers who you think could be ready for a change, now would be the time to reach out. |
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