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Selling Insurance? What You Need To Know

The 5% InstituteConsultative Selling Selling Insurance? What You Need To Know
selling insurance

Selling Insurance? What You Need To Know

We’ve trained Students all around the world; and many of them come from businesses that are selling insurance.

 

This ranges from public liability insurance, home or business insurance, life insurance and much more.

 

What we’ve found is by implementing these useful tips, you’ll be able to sell insurance a lot more consistently and effectively.

 

 

Selling Insurance? What You Need To Know

 

 

Selling Insurance Tip #1 – Avoid Jargon

 

 

One of the common yet crucial mistakes Insurance Brokers and Sales Professionals make, is that they use jargon when explaining various parts of the policy.

 

Although there may be jargon and various acronyms involved within your product or service, try to always explain things in layman’s terms. This will ensure your prospective client doesn’t feel confused, or perhaps not informed enough about what decision to make.

 

 

Selling Insurance Tip #2 – Create Lead Generation Systems

 

 

Finding your ideal clients are an important part of the sales process, because it’ll allow you to have on the phone or face to face conversations with people who are qualified for your products and services.

 

There are two types of lead generation systems. These are:

 

  • Inbound lead generation systems
  • Outbound lead generation systems

 

Inbound lead generations systems are sales funnels and similar systems to bring leads into your business.

 

Outbound lead generation systems are ways that you can reach out to prospective clients and build interest to have a face to face conversation; or alternatively speak with them on the phone.

 

If you wish to learn more about lead generation systems, you can learn so by clicking the article below.

 

Related article: Two Types of Sales Prospecting Methods For More Sales

 

 

Selling Insurance Tip #3 – Don’t Prematurely Sell

 

 

As per our article on Entrepreneur.com, many Sales Professionals and Business Owners struggle with sales because they sell too soon.

 

Instead, first learn about their current situation, and ask open ended questions to find out if they will in fact be the right fit for your products and services, and to ensure they’ll benefit from them too.

 

 

Selling Insurance Tip #4 – Find The Meaning Behind Why They Want Insurance

 

 

People don’t buy insurance – instead, they buy what it will mean once they own it.

 

Learn about their current situation, and the potential risks of what will happen if they don’t have insurance.

 

Are you selling house insurance? What will it mean if all their belongings and treasured memories burn down in a house fire, and they’re not able to recoup their prized treasures.

 

Perhaps you’re a small boutique company specialising in per insurance – if they have a furry family member; what will it cost them if they need emergency assistance and don’t have the right coverage to look after them when in need?

 

Find the meaning behind why they need the insurance.

 

 

Last But Not Least, Tip #5 – Use A Sales Process

 

 

A sales process, or commonly known as a sales system, is a step by step outline or blueprint you can use to get the same positive result.

 

By positive result, we mean both consistent sales, and secondly being able to serve more people and make a bigger impact.

 

A sales process is crucial if you want to win more sales more regularly.

 

To check out our article on how you can do this, visit the related article below.

 

Related article: The Sales Process – A Step By Step Guide

 

 

Our Free Masterclass

 

 

If you want to lean how to put this all together, we’ve created a no cost sales training webinar to help you reach your goals faster.

 

To register, simply click here to lock in your spot.

Khabeer Rockley

Khabeer Rockley is a Sales & Business Trainer, and the Founder of The 5% Institute

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