Recently I made this post on Twitter, looking to get some feedback from insurance agents regarding the top questions they have on converting inbound calls into opportunity. We got some interesting feedback from both Ryan Hanley and Joshua Lipstone. From those tweets we have created this blog with some of the top questions generated. In all honesty, I was approaching this question from a service call approach since that is the bulk of calls that come into most agencies. However, I loved the twist that more salescentric agents put on this question. We hope to answer all these questions fully and completely for our loyal readers.
Who Takes the Call? Dedicated Person? Owner? Producer?
For this question posed by Ryan Hanley, I’m going to break it down into a few options based on the size and type of agency you are operating. There is one rule that is critical and must be taken into consideration. In insurance a new lead should never, ever go to voicemail. A web lead will quickly hit that back button, go on to your competitor and not leave a voicemail. So all your hard work blogging, being on social media, etc. will have been for nothing. If your agency is smaller, you may want to consider the option of having an answering service or a virtual assistant answer. If that is not possible, plan B is to have your phone system put them on hold and send out the bat signal to have someone wrap up a call and pick up a hot lead.
In agencies where you have a receptionist (or as we like to call them Director of First Impressions), they are the perfect person to greet the caller and connect them to the right person. There should be a warm transfer to the right person so there is a seamless transition.
As far as who should get the lead, I love the baseball model. You put your best hitters at the top. In all reality, you don’t want to waste a lead if you are a sales insurance agency. So start the day with your best person getting a lead and go from there. You also should be tracking your team’s closing ratio to see who is doing a great job at converting opportunity and who is not.
Sales Process/Expectations/Quote Over the Phone
How formulaic should you want to be? Such as use gravity form to collect information or have loose talk track?
How to set expectations?
Quoting over the phone?
These are great questions posed because using scripts, talk tracks and a process all work. However, they only work as well as the agent who uses them. We believe in having a strong 5 step sales process:
- Rapport Building – No quote sheet needed here, just a good old introduction. You can find out a lot about the opportunity, and ultimately this is where you also need to decide if the lead is in your wheelhouse or if you should walk away. But before you dive into the insurance probe, just have a general “get to know you” chat first. Avoid being an underwriter. Be a person here.
- Insurance Interrogation – This is where it gets real and you need all the things from the opportunity. We do recommend you work to quote over the phone on small commercial and personal lines. For more dynamic commercial you may want to use a fillable PDF or other form to collect the details.
- Setting Expectations – This is critical for commercial lines. If you have to work with underwriters, you need a due date to help the underwriter prioritize, but it’s only fair to the client for them to have a clear expectation of when you will be in touch. We think the client should be in the know. For example, you submit to 4 carriers and the client would like to see options 30 days before renewal to avoid the scramble. If you have 2 of the 4, present them and let the client know you are waiting on 2 more. Then THEY can decide if they want to wait another week. All too often we hold until we have everything to present, but some clients prefer to have options early. If the underwriter blows the expectation, you can reset the expectation with the client and be their tour guide.
- Delivering the Quote – This is your opportunity to shine! You need to be prepared to advise and explain what they need and also what you recommend. You want to release the price after you share the value. We generally recommend having agents give 2-3 options so people have the power of choice!
- Ask for the Business – The most important part! If you leave a sales call telling any client, “think about it and let me know,” you are telling them there is something to think about! If you did your job, there is nothing to think about.
How Do You Weed Out Accounts That Aren’t Ideal & How Do You Tell Them?
Another stellar question. You need to start by outlining who your ideal client is. If you don’t want to write excess lines, have that written down. When we need to sell something, sometimes we all violate our own best practices. But get very clear on your ideal client and remember: bad prospect, BAD client. Don’t violate this principle. You will pay for it. Some things to consider to vet your opportunity:
- Markets
- Excess Lines?
- Target Premium
- # of policies you can obtain
- Prior coverage
- Personality
- Location
Now comes the interesting part. If they aren’t a fit, what the heck do we say? Our polite talking point is:
“Based on what you have shared, I don’t think we will be the best fit for your business. I know how valuable your time is, so I don’t want to lead you down a path if I don’t think I’m the best fit for you. You may want to try X as an option.”
Keep it short and polite and you can’t lose!
