As an insurance agent, not a day goes by that I don’t think, “Insurance is nothing but a giant pain in the ….”  And there are so many problems, starting with plans that have increasingly high deductibles, limited networks, enrollment problems, premium payment issues, and claims issues.

Guess what?  These problems are why agents are vital to the insurance industry.  If it was easy, our services would not be required.

Also, finding a client’s problem, issue or pain, can result in sales.  Let’s become the resource that your client wants to use to fix their insurance pain.

How do you find the pain? 

 

Who is the decision maker?

When prospecting for a new group, one of the first things you want to do is find out who the decision maker is and then establish something you may share in common.  Communicate in a way that the decision maker will want to talk with you.

  1. Ask about the children’s pictures on the desk.
  2. Commiserate on the Chicago Bears quarterback situation when you see the Bears Schedule posted on the board.
  3. Reminisce on your favorite muscle car story with the employer who loves cars.
  4. Ask how the business was started?

Next, you need to find the problem or pain that you can solve.  This creates the need to use you as their agent.

Below are some suggested questions to ask when meeting with the employer.  Look for issues or “pain” that you can solve.

  1. My premiums are too high or they just keep going up
  2. Network is too small
  3. Policy maintenance issues
  4. Compliance issues
  5. Employee participation too low
  6. Medicare eligible employees issues
  7. Are the group’s current plan options not working for their employees
  8. Would dental, life, vision or disability coverages make their employee dissatisfaction go away
  9. Have they had service issues with their current carrier or agent? What were they
  10. Do your employees understand their plans and how to use them
  11. Does your current agent review your policy and provide real solutions
  12. Did the employees previously enroll in individual plans to save money because of the cost of group insurance

If you can find a solution, let the group know that you can help.

A sale depends on fulfilling a need or resolving a pain for the consumer.  An agent fulfilling this need or resolving their issue makes the sale a good decision for the group.  Let the group know you have an answer and create a presentation that demonstrates this solution.

I don’t know that answer!

Questions that you cannot answer are an opportunity.  “That is a great question.  Let me contact my BCBS IL representative and I will get back to you with their answer.”   Be sure to get the answer and provide it to the group in a timely manner.  You are establishing your reliability, your direct resources and another chance to continue to build your relationship.

Ask for a referral

After a successful sale and enrollment, be sure to ask if they know anyone else who has similar issues.  Since the agent has done a great job resolving the group’s issue, this is the time when the employer is most motivated to return the favor by giving a referral.

Other opportunities to ask for a referral:

  1. You helped solve a premium payment issue
  2. You helped solve a claims issue
  3. You offered a new plan solution for renewal that saved money
  4. You enrolled a new employee and spent time explaining how to use the plan. Ask the employee for a referral
  5. Employers, employees and individual clients interact with other businesses and have family who might own a business

You do not make the sale.  That is okay.

If the sale does not go through, you have started a relationship that you should continue to nurture through quality communications.  If not now, sometime in the future when an issue does arise, your name will be in the decision maker’s mind to possibly resolve the issue and make the sale later.

Keep Communicating

Keep communicating to all of your contacts (prospects and current clients) with at least 4 touches per year via email, phone, mail or a visit.  Ideas include:

  1. Follow up the sales process with a thank you for considering your services. You could include any other services that you may offer, property and casualty, ancillary and life products.  Ask for a referral
  2. Follow up to confirm SBC requirements were completed on Blue Access for Employers
  3. Prior to group’s renewal, call to offer your consulting services and look for their pain
  4. Find a reason to drop by the business to drop off a brochure or treat when you are in their area
  5. Include in your annual holiday mailing or e-blast
  6. Create a communication about the group open enrollment period (Nov 15-Dec 15) when groups can enroll without employer contribution and/or employee participation requirements

Managing Contacts

Keep a record of contacts (prospects and current clients) that include name, address, phone, decision maker, email address, products discussed, and renewal dates.  I really like using Excel for this type of record as Excel is so easy to manipulate.

Set aside regular prospecting time in your schedule for marketing new clients.  This allows undisturbed time to brainstorm for ideas during your work schedule.  It is very easy to get bogged down in other administrative duties and push off this essential aspect of business survival.

Ideas for Using your Contact List

Now that you have a list, here are some ideas on how to use it.

  1. Contact your list when you have a new product, idea or solution
  2. Use Open Enrollment Periods to reach out to contacts to offer your expertise
  3. Update and expand contact list regularly
  4. What additional products can be solutions for your current clients
  5. Use your contact list to search for clients approaching renewal
  6. Use your contact list to find those clients that are scheduled for another communication touch
  7. Make a list of reasons to contact your clients and write out a plan on how and when to implement

 

I find that I automatically brainstorm as I am driving home.  The act of driving allows all of the thoughts and actions from the work day to settle and sometimes just letting my thoughts drift, creative ideas come to mind.

Establishing routines for marketing can result in progressive results as you regularly add marketing into your schedule.  Also, following this routine may train your brain to automatically look for opportunities throughout your work day instead of only when you need more business.

I would love to hear your input on my suggestions and also what other actions work for you.

 

Thank you