Too often, insurance agents are cruising during a prospecting meeting only to slam into a brick wall of objections. These objections can quickly derail an insurance sale. However, by coaching your agents to properly handle objections, you can empower them to blast through these potential deal-breakers and land more sales.
Ready to get started? Here’s how you can coach your agents to overcome objections and sell new insurance policies with ease.
Practice is a critical part of landing insurance sales. That’s because the more your agents practice, the more prepared they will be for the objections that could ruin a sale. Here are a few common objections to go over with your agents, along with ways to address them:
Sometimes, a prospect may not remember earlier discussions about insurance. One way to fight past this objection is to jog the person’s memory with an especially significant interaction or point from the last meeting. This is where great notes in a CRM will come in handy. If the client still doesn't remember, encourage your agents not to get frustrated. They can simply re-focus the conversation by highlighting the main reason either party reached out, and the benefits that prospects will value most.
People don’t like working with companies they don’t know. That’s why if a prospect says they don’t know about your agency, have your agents acknowledge the concern with understanding and concern and give an overview of the agency. To show credibility, it can be helpful to touch on points such as how long it’s been in business, how many clients it serves, and the agency’s purpose.
If the prospect says they aren’t interested, it can be a good indication that your agent needs to provide further education. Ask questions of the prospect, such as “If you could have one thing be a part of your insurance experience, what would it be”. The idea is to be sensitive and willing to listen to the prospect’s concerns, while finding ways to overcome the objection by explaining how the prospect will benefit and why it is worth their time to listen.
When a prospect says they need time to think about a policy decision, it often means something is standing between them and the sale. Agents can overcome this objection by digging into the reason behind the prospect’s hesitancy and laying out the advantages of acting immediately.
Money is often a legitimate concern for prospects. To overcome objections about an insurance policy’s cost, your agents can focus on how the policy could save money in the long-term or break costs down into monthly payments to show how manageable the policy can be.
Technology is making it easier than ever to give agents direction, lift sales, and shine light on areas that need improvement. If you want to lead agents past objections, start by figuring out where they’re going wrong. That means poring over the data in your insurance CRM and identifying instances in which leads are dropping off.
Once you’ve found weak spots, prepare ways to improve those areas and start coaching. By setting up one-on-one meetings, you can use data to make sure you’re pushing insurance agents in the direction they need to drive sales higher.
One of the best ways to help agents overcome objections is to encourage them to rev up communication. Clear and consistent communication helps the client answer the questions that may be lurking beneath the surface.
But how?
Give them the tools to kick communication into hyperdrive. Here are a few tools to consider if you want to grow communications and combat objections:
Beyond using technology to boost communication, you can hand over other tools to help your agents overcome objections. For instance, by giving agents access to insurance software, you can help them stay organized and focused on the personal details of the prospect.
Insurance CRMs organize personal information about the lead. With a CRM tool, your agents can quickly see the best routes to overcoming objections. For instance, if your agent knows they’re talking with a lead who has a family, and the lead objects because they think a policy is too costly, your agent may be able to overcome the objection by focusing on the value that policy delivers to the entire family.
By coaching your insurance agents to overcome objections, and providing them with the tools they need to succeed, you’ll be building a secure sales pipeline to produce more profit. Looking for more tips, tricks, and advice to help propel your agency past the competition? Subscribe to the AgentCubed blog today to grab the latest secrets to success in the P&C, A&H, and ancillary insurance industries.