Introduction
Selling insurance remotely without meeting clients in person can seem daunting. However, with the right strategies and expertise, it is entirely possible to have highly successful sales conversations over the phone. In this comprehensive guide, we will break down exactly how to sell various types of insurance products virtually, from simple offerings like travel and auto policies to more complex plans like life and health insurance. Whether you are an independent agent or work at a large carrier, following these tested methods can help you confidently and profitably serve more customers through telephone interactions. By understanding product suitability, clearly communicating value and claims processes, and prioritizing needs-based discussions, you can build trust and close sales while respecting clients’ scheduling and social preferences. Read on to discover a blueprint for optimizing your insurance sales results without relying solely on face-to-face meetings.
Classifying Insurance Products by Phone Suitability
The first step is to identify which types of protection are generally appropriate for telephone transactions and which demand in-person guidance. This allows focusing your remote efforts on policies that are conducive to virtual discussions while properly handling more intricate needs. Some key guidelines:
– Travel and auto insurance are usually feasible by phone given their more straightforward nature. Customers often just need basic quotes and coverage details rather than nuanced counseling. Short-term policies are also a good remote fit.
– Critical illnesses, health, and permanent life insurance involve more personal and complex decision factors. Thorough factfinding, illustration comparisons, and medical history assessments are best done face-to-face to ensure clients comprehend intricate contractual stipulations and long-term implications.
– Retirement and education planning require establishing a comprehensive financial picture, delineating goals, projecting cash flows, and outlining tax implications. The depth and variety of options necessitate in-person meetings to collaborate on optimal solutions.
– Certain liability, commercial, and specialty products have characteristics of both basic and complex categories. Judicious agent discretion is required to weigh telephone or appointment options depending on a given client’s needs and risk tolerance.
Qualifying Customers and Handling Objections Remotely
With a roadmap of suitable remote offerings established, the next critical conversation components involve driving customers to clearly express their situations and qualifying their actual protection requirements. A few proven telephone techniques:
– Ask open-ended questions to draw out needs, concerns, budget parameters and timeframes without forcing predetermined solutions. Active listening builds understanding.
– Address objections immediately by acknowledging alternate viewpoints, then re-emphasizing value gaps a solution fills rather than arguing. Compromise when able while still advocating for coverage.
– Provide just-in-time education by explaining concepts simply without industry jargon as knowledge develops organically over discussion. Test comprehension before advancing.
– Use specific examples and case studies customers can relate to that highlight protection, peace of mind and savings from underwriting advantages over going uninsured.
– Clearly summarize the call periodically to confirm mutual understanding and get buy-in before proceeding. Recap and agree on next steps so customers don’t feel dropped.
Communicating Value and Claims Processes by Phone
With qualification confirming a need and no major objections, conveying value is key to persuading remote sales. Outline tangible protection benefits versus costs to tilt purchasing motivation. Some powerful virtual messaging tactics include:
– Quantify potential claims payouts, then offset versus premium outlay to highlight long-term savings and “insurance as investment” conceptually.
– Cite industry loss data, risk factors and statistics customers can internally reference to minimize future exposure worries and maximize value relevance now.
– Contrast total costs of going without coverage, from medical bills to legal penalties to missed work/wages, to proposed affordable premium budgets.
– Explain user-friendly claims filing handled by professional adjusters so customers realize simplicity and turn pain into profit quickly when the unexpected occurs.
– Address top fear – the “what if I can’t file a claim” concern by walking through the straightforward, step-by-step reimbursement process with sample scenarios and timelines.
Closing Sales and Nurturing Relationships by Phone
With education, discussion and objections addressed, the sales conversation now turns to confirming decisions and next actions remotely. Solid closing techniques include:
– Review the recommendation and have customers restate their situation and needs as understood to affirm proper solution fit and buy-in.
– Address budget by outlining payment options and getting initial payment or application to symbolize commitment and momentum.
– Thank customers sincerely for the opportunity while quickly recapping next deliverables like paperwork, ID cards, additional services, etc.
– Request trusted referrals by asking who else may benefit from the same protection discussion based on qualifying questions earlier in the call.
– Follow up post-purchase by email or call within a week just to ensure satisfaction, answer post-enrollment inquiries, and convert new clients to advocates.
Conclusion
Mastering the telephone sales process demands expertise in distilling complex information succinctly, qualifying needs objectively, addressing concerns empathetically and closing arrangements efficiently through virtual communication alone. By segmenting offerings for remote suitability and employing proven qualifying, conveying value and closing tactics, insurance professionals can successfully serve all client types, maximize coverage and deepen relationships without being restricted solely to face-to-face interactions. Armed with this comprehensive guide, harnessing the full power of telephone sales is entirely achievable.