Insurance Sales Premium
When we’re in a new business transaction, we need to make sure we’re doing something that often gets overlooked. We need to find out what people were paying for their policy, and what their renewal came in at. Getting the insurance sales premium you need to match or beat should definitely be a part of your insurance sales process, because people tend to be stuck on that old number, which usually expires like Cinderella at midnight.
“When you go into pitching your proposal knowing that your rate is great, or that you’re close, or knowing that you’re too high, it helps you structure how you’re going to sell that policy.”
By having a conversation about insurance sales premiums, we get vital information that can really help us determine if we’re close to their rate, or too high. This information can structure how you’re going to sell that policy. Sometimes, we encounter clients who don’t want to give up their insurance sales premium. If you do run into that problem, here’s some techniques to try:
- Use humor
Humor and levity can be really useful for defrosting a situation, especially if someone seems reluctant to tell you their insurance sales premium. You can half-jokingly say something to the effect of: “So what’s your insurance coming after you for these days?” By bringing humor and light to the situation, people will feel more comfortable sharing information with you.
- Show them the benefit
If someone doesn’t want to tell you their insurance sale premium, make it clear that it’s better for everyone if you know. You can say: “I don’t want to waste your time if I don’t think we can be competitive, because I have a pretty good handle on the insurance market.” Surely, they don’t want their time wasted either.
- Give them a range
As we know, giving our customers options is always a best-practice, and that same rule can apply here. You can ask “What’s your family’s budget like?” or “What range are you hoping to stay in?” By asking for a range, people will feel more comfortable giving you at least some information which can be helpful.
The bottom line is that you do really need to know about your customers insurance sales premium, so don’t shy away from it. Ask, and if you get a “no,” then you’ll have to work around it. When you go into your sale knowing how you to pitch, you’ll have a much smoother time closing the deal.
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