Insurance policies, whether they are of life, health or vehicle, are not easy to sell. Despite insurance being a safety net for people in untoward circumstances such as death, poor health or accident, most of them don’t buy insurance for reasons best known to them. One gets too many customer leads but the conversion rate seems poor. So many calls insurance professionals make to customers, hardly a few get converted, resulting in frustration for them. They face the pressure to sustain themselves in a job because of poor performance. However, there are always multiple solutions to sell insurance policies effectively. In this blog, we will emphasise the same.
Understand Your Customers in Depth
Understanding your customers in depth is pivotal to meeting insurance sales targets set for a month. You should know the factors that motivate and scare your customers. In addition, understand their needs and figure out the insurance product that can help meet them effectively. Figuring out the product is one solution, creating an effective sales pitch is another. Use the pitch to do a mock sales activity with your colleagues. Seek feedback from them where you are going right and where you may be possibly going wrong.
Prioritise Customer Needs Rather Your Personal Ones
Sometimes while selling insurance policies, sales executives look to meet their goals only rather than resolving the pain customers face. While emphasising your personal goals may allow you to sell insurance policies at the first instance, the chances of poor customer relationships are higher with the same. It’s important to know the pain point of your customers and pitch them the product that solves it. Doing so will help you establish a long-lasting relationship with your customers.
Customise Your Approach Based on Your Customers
Every customer is different in terms of needs and behaviour. Approaching each of them in the same manner may not produce ideal results for insurance sales professionals. So, besides checking your customer needs, check their behavioural attributes and profession. This way, you can customise your sales pitch to record more sales and revenue for the organisation.
Reinforce the Need to Buy Insurance Among Your Customers
While approaching customers for insurance sales, it’s important to emphasise to them the urgency to buy the best insurance policy at the earliest. For example, delaying life or health insurance will only increase the financial risk and the premium payable to the same. Buying insurance at the earliest will ensure maximum coverage against perils for the least premium. A lot of customers often delay insurance. Tell them the risk they run by doing so, and how your insurance product can ensure they feel secured in the advent of unfortunate circumstances.
Converse with Customers on a Personal Level
Keeping a strict professional approach does not work in sales no matter whether you are selling insurance or any other product. Converse with them on a personal level to figure out the problems they face and how insurance can help overcome them. People reveal details only when you connect with them on a personal level. Showcase empathy to gain your customers’ faith.
Highlight Your Product’s USPs
Highlighting the USP of your insurance product is critical to boosting sales. There can be hundreds of features an insurance product can have. Elaborating each one of them can be too much for your customer. Highlight the USP clearly to draw your customers’ attention and business.
Make Them Say YES to the Insurance Deal
Finally, it’s all about getting the customer’s signature on the insurance paper. Explain to them the features and benefits of insurance products in a simple manner so that they can understand them properly. This will further result in sales.
Achieving insurance sales targets is possible with a systematic approach involving effective practices to draw customers’ attention. Follow this approach and make changes to the same as and when required. If you are searching for insurance sales jobs, connect with reBLISS - a one-stop platform that connects skilled professionals with a wide range of businesses.
