Selling Auto Insurance: Mastering Phone Skills

Selling auto insurance over the phone can be challenging, but with the right tools and strategies, it can be a rewarding and lucrative career. Here are some tips to help you get started:

- Build rapport with your prospects: Send them an email or physical mail before calling, and focus on establishing a connection and trust.

- Cross-selling and upselling: It's easier to sell additional insurance products or increase the coverage to existing customers than acquiring new ones.

- Offer a free gift: Entice prospects to fill out a lead generation form by offering a free gift, such as an insurance guide or a premium estimate.

- Use magic words: Instead of asking if they are available to talk, try using phrases like I have a question for you, which gives them the power to control the call.

- Listen and engage: Pay attention to your prospect's needs and concerns, and address them directly. Avoid using too much jargon or slang.

- Be prepared: Have a script and a closing statement ready, and make sure you have all the necessary information in front of you before making the call.

- Establish yourself as an expert: Explain your background, areas of expertise, and credentials to build credibility and trust.

- Follow up: Most sales require some form of follow-up, so don't be afraid to reach out again if you don't close the deal on the first call.

Build rapport with your prospect before you ask for the sale

Building rapport with your prospect is an essential step in the sales process. It helps establish trust and a harmonious relationship, which can lead to loyal customers. Here are some tips to build rapport with your prospect before asking for the sale:

Open with a positive attitude and a clear directive: Start the conversation with a smile and a positive tone. State your reason for calling, as it sets clear intentions and lets prospects know you mean business. According to Gong.io, salespeople who state their reason for calling have a 2.1 times higher success rate.

Be respectful and remember names: Use the prospect's name throughout the conversation. Address them by their preferred titles and identity to avoid any missteps that may cause offence.

Find common ground: Look for connections and common interests to build rapport. Be cautious not to get too comfortable, too quickly. It's important to maintain professionalism while bonding.

Match your prospect's energy: Mirror certain elements of how your prospect speaks, such as their tone and pace. This subtle form of mirroring shows strong listening skills and helps build rapport without changing your character.

Understand their problem: Let the prospect know that you understand their problem. Demonstrate your attentiveness by reiterating key points and offering solutions. Avoid interrupting or making assumptions, and instead, let them explain their situation fully.

Ask productive questions: Ask open-ended questions to encourage the prospect to share their thoughts, feelings, and opinions. This helps you understand their circumstances, including their resources, business size, and career development goals.

Stay attuned to and reflect your prospect's feelings: Be considerate and empathetic. Reassure them while they explain their situation. Acknowledge their emotions and validate their feelings.

Provide value: Share useful information, tips, resources, or insights to help them achieve their goals. Use testimonials, case studies, or data to demonstrate how you've helped others with similar needs.

Show appreciation: Thank your prospect for their time, attention, and understanding. Let them know you appreciate their success and provide clear steps on how and when to contact you to make a purchase.

Remember, building rapport is about establishing trust and creating a comfortable environment for your prospects to open up and share their concerns. A smile and a positive attitude can go a long way in making your prospect feel welcomed and valued.

Cross-selling and upselling insurance

Understand the Difference

Firstly, it's important to understand the difference between cross-selling and upselling. Cross-selling is offering related or complementary products to what the customer already owns or uses. For example, offering auto insurance to a homeowner's insurance client so they can bundle their policies. On the other hand, upselling is encouraging customers to purchase a comparable but higher-end product. For instance, suggesting a rider on a homeowner's policy to protect valuable jewellery. Both strategies are beneficial and can be used together to maximise sales and provide value to customers.

Know Your Customers

To effectively cross-sell and upsell, you need to know your customers well. Use a reliable customer relationship management (CRM) system to keep track of their details, such as age, dependents, homeownership status, policies they have, etc. This information will help you identify their needs and any gaps in their coverage. Ask questions to understand their situation better and show that you care about their financial wellness. For instance, ask about their hobbies (e.g., boating or motorcycling), if they have children, or if they have investment properties. This will help you tailor your offerings to their specific needs.

Start Early

Don't wait too long to start the conversation about additional insurance products. The sooner you initiate the discussion, the more effective it will be. Aim to begin within the first 30 days, but always be mindful of the customer's cues. If they seem upset or are dealing with a claim, plant the seeds for future conversations without being too pushy. Respect their immediate needs and follow up later.

Make Your Offerings Known

Ensure your customers are aware of all the products you offer. When onboarding a new customer, let them know about your full range of services. You can also create an inventory of your offerings and make it available on your website, social media, and brochures. Update your phone's holding message to include information about the insurance products you sell. That way, customers on hold will learn about your offerings while they wait.

Discuss Savings Opportunities

One of the biggest benefits of cross-selling and bundling policies is the potential for significant savings. Be sure to highlight this to your customers. Mention the availability of multi-policy discounts early in the conversation. For example, say something like, "We offer discounts if you have something else you'd like us to insure. Would you like to know more?" This will pique their interest and make them more receptive to your suggestions.

Leverage Social Media and Email

Use social media platforms like Facebook, LinkedIn, and Twitter to promote your full range of insurance products. Encourage your existing clients to follow you and share your posts. Additionally, leverage email marketing by sending newsletters or teasers for blog posts offering educational content about the various policies you sell. This approach allows customers to learn about other types of insurance without feeling pressured.

Be Patient and Persistent

Cross-selling and upselling are unique sales situations as you'll have multiple opportunities to interact with the customer. Don't stress about fitting everything into one conversation. Instead, be patient and persistent. Plant seeds and follow up. The more you talk about potential opportunities and the more familiar your customers become with your offerings, the more likely you are to make a sale.

By implementing these strategies, you'll be well on your way to mastering the art of cross-selling and upselling insurance over the phone, leading to increased sales and improved customer satisfaction.

Give away a free gift if they take action

Giving away a free gift is a great way to incentivize prospective clients to take action. Here are some tips on how to use this strategy effectively when selling auto insurance over the phone:

First, understand your target audience and choose a gift that aligns with their interests and needs. For example, if you're targeting young drivers, a gift card to a popular coffee shop or a gas station could be appealing. On the other hand, if your target audience is families, consider a gift card for a family restaurant or a small voucher for a local attraction.

When promoting your free gift, be sure to clearly explain the terms and conditions. For instance, specify the minimum policy purchase required to receive the gift, and whether there are any restrictions on eligibility. Transparency builds trust and helps to ensure a positive customer experience.

Make sure your gift is of sufficient value to be attractive without cutting into your profits too much. A gift that is too inexpensive may be perceived as insignificant, while an overly expensive gift may raise eyebrows and seem too good to be true.

When speaking with prospective clients, be sure to mention the free gift early in the conversation. This will help to grab their attention and keep them engaged. For example, you could say, "For a limited time, we're offering a $25 gift card to all new policyholders. Would you like to hear more about this promotion?"

Finally, be prepared to explain how the client will receive the gift. Will it be mailed to them, or can they pick it up at a local office? Providing clear instructions on how to claim the gift will help ensure a smooth process and avoid confusion.

Remember, using a free gift as an incentive can be an effective strategy, but it should be just one part of your overall sales approach. Combining this with other techniques, such as building rapport, addressing objections, and providing excellent customer service, will help you close more deals and increase your sales numbers.

Use the magic words, I have a question for you

When selling auto insurance over the phone, it's important to establish a rapport with your prospect and build trust. One way to do this is by asking the right questions. A great way to initiate a conversation and show appreciation for your prospect's time is by using the phrase, "I have a question for you." This gives your prospect the power to control whether the call happens now or not and makes them feel valued.

• Be prepared with a script: Have a written sales script ready, which you can adapt to match the tone of your prospect once you're on the call. This will help you feel more confident and ensure you cover all the key points you need to make.
• Establish yourself as an expert: When selling insurance over the phone, it's crucial to establish credibility, authority, and expertise. Explain your background, areas of expertise, and credentials to build trust with your prospect.
• Ask open-ended questions: By asking questions about their hobbies, family, and investment properties, you can identify their insurance needs. For example, they might need motorcycle insurance, life insurance, or liability coverage.
• Listen carefully and engage: Pay attention to their responses and use verbal nods, such as "I see" or "Mhm," to show that you're actively listening. This helps build rapport and break down communication barriers.
• Avoid jargon and slang: Use professional language that your prospect can easily understand. Remember, you want to come across as intelligent and confident.
• Be persistent but not pushy: Don't be afraid to follow up. Many sales require some form of follow-up, and it's crucial to stay in touch so that you're the first person they think of when they're ready to purchase.

Remember, selling insurance over the phone is a skill that can always be improved and refined. With practice and the right techniques, you'll be able to close more deals and boost your insurance agency's sales.

Use the right insurance agency sales tools

Using the right insurance agency sales tools is crucial for your success in selling auto insurance over the phone. Here are some essential tools and strategies to help you boost your sales performance:

Customer Relationship Management (CRM) Software:

Invest in a robust CRM system that enables you to efficiently manage your sales efforts, customer data, internal data, team tasks, and communication within your agency. CRM software helps streamline your sales process, providing easy access to customer information, policy details, and sales pipelines. It also facilitates automated follow-ups, which are crucial for nurturing leads and retaining clients.

Agency Management System (AMS):

An AMS is vital for managing your insurance agency from a general perspective. It helps you oversee the big picture, including sales performance, team productivity, and overall agency growth. An AMS often integrates with your CRM, providing a seamless flow of data between the two systems.

VoIP Phone System:

A VoIP (Voice over Internet Protocol) phone system allows you to make and receive calls directly from your computer. This integration saves you time by having everything in one place, increasing your productivity. Additionally, VoIP systems often offer advanced features such as call recording, call forwarding, and integration with other software.

Quoting Software:

Quoting software is essential for providing accurate and competitive quotes to your prospects. It enables you to compare rates from multiple carriers side by side, ensuring that you offer the best options to your customers. Having this software ensures that you can provide quotes promptly during sales calls, enhancing the customer experience.

Dual Monitors:

Consider using dual monitors to improve your efficiency. With two screens, you can have your quoting software on one monitor and your browser, CRM, or other relevant tools on the other. This setup saves you from constantly switching between windows and helps you access information quickly during sales calls.

Field Underwriting Guides and Questionnaires:

When selling auto insurance, it's crucial to have field underwriting guides and questionnaires readily available. These resources, often provided by insurance companies, ensure that you ask all the necessary questions, especially when dealing with unique medical conditions or other specific circumstances. They help you provide smooth, quick, and accurate service to your customers.

Website and Online Presence:

In today's digital age, having a user-friendly and informative website is essential. Invest in a website that serves as a lead-generating machine, providing valuable content for prospective customers at different stages of their buyer's journey. Additionally, leverage social media platforms, especially LinkedIn, to connect with potential clients and build your professional network.

Sales Engagement Software:

Sales engagement software helps streamline and automate your sales processes. It ensures that your sales representatives call the right leads at the right time, enhancing efficiency. This software often includes features such as queue-based routing, email/text marketing, and sales lead tracking, enabling your team to handle leads with maximum efficiency.

By utilizing these tools and integrating them effectively, you will be well-equipped to sell auto insurance over the phone successfully. Remember that the right tools will enable you to optimize your sales performance, enhance customer satisfaction, and ultimately boost your insurance agency's growth.

Frequently asked questions