by David Bell | Apr 18, 2018
The competition independent agents face has exponentially grown with today’s technology age. Today your customers and prospects can shop for insurance policies one of two ways: online or by working with a live person.
You have to strategically do things to remain relevant and get noticed by your ideal customers. If you don’t highlight why your services are better, you run the risk of losing them to online vendors.
One of the best ways to keep customers coming to you for their insurance needs is to educate them continually about the value you bring. Find creative ways to constantly share WHY doing business with you is better than getting coverage over the Internet.
Five Advantages Agents Offer
Here’s a starter list of the many advantages businesses and individuals receive by working with an experienced insurance agents like you.
Trustworthy Relationship Building: While the advent of artificial intelligence makes computers amazingly fast and smart, they offer empathy, or evoke emotions like humans. Interacting with a living person who cares for you allows for sincere relationship building. In turn, trust and loyalty are built to create repeat customers for years to come.
Genuine Cost Savings: There is a misperception that online insurance is cheaper. In reality, the unique situation of a business or individual, as well as the type of coverage they choose, can drive the insurance costs. Working with live agents allow individuals to compare insurance policies that make the most sense to your situation while ensuring you’re not overpaying. In fact, multiple products can be bundled together to create a cost savings not found online.
Seasoned Expertise: Yes, artificial intelligence empowers machine learning. But insurance needs extend beyond mechanical calculations. You’ve invested your time training and learning the markets. With your know-how, you have a knack for anticipating your clients’ needs and making recommendations a computer could never do. As a licensed pro with 10-30 years of experience, you can offer actual advice that fits the situation.
Personable Customer Service: You provide a familiar voice and a trusted answer that is accessible on a dime. Urgent questions, distressing claims, policy changes and urgent inquiries can be addressed immediately. This is preferred over the alternative of long hold times, automated phone queues, or sifting through a computerized list of frequently asked questions.
Intuitive Analysis: Independent agents or brokers are wired to watch over customers protectively. You conduct renewal reviews that machines cannot offer. You know when there are discounts available or other options to save your customers’ money. Online systems don’t look out for your customer’s best interest while being attentive is something you take pride in doing for them.
Extend Your Value By Using Free Resources
Help your customers see the many benefits that come from doing business with you instead of faceless Internet options. Eliminate any questions or concerns by shining the light on the value you bring that simply cannot be duplicated by machines.
Extend your value by tapping into Syndicated’s free quick response system of tools that makes it easy for you to find quick quotes for hard-to-place clients and situations. Already signed up? Access our Quick Start Guide or call us so we can personally walk you through the system.
by David Bell | Mar 13, 2018
As an independent insurance agent, you know competition is fierce. The good news is you’re not alone as most agents are facing the same problems. The key to your success is finding ways to set yourself apart.
Problems Faced By Insurance Agents
Let’s take a look at the issues. Syndicated Services CEO David Bell recently shared an overview of the problems today’s insurance agents are facing. “Recently it has been tough to be an independent insurance agent. The statistics show that the number of licensed insurance agents has been dimensioning. It has recently leveled off, but that is because you have non-independent agents getting licensed like banks, and even carriers marketing directly.”
“The tough thing is that commissions continue to go down and agents are facing competition from areas they’ve never faced it before. Technology now makes it possible to sell insurance on the Internet through various financial institutions. You’ve also got alternatives, like payroll processors that offer insurance with their payroll services. PEOs are offering co-employment staffing companies. It is really no wonder that fewer and fewer young people are interested in getting into retail insurance. We’re also seeing the aging of insurance agents.”
Progressive Pivots For Success
“The only way we’ll see any change is to start embracing and promoting technology. We need to find ways to compete with all these different challenges that are taking away our commissions and making it more difficult to make a living.”
Are you embracing and promoting technology? Or are you still dependent on outdated ways to do sell insurance?
Since you find yourself constantly looking for ways to stand out from the rest, it only makes sense to look at several ways you can set quickly set your insurance agency apart.
Easy Steps You Can Do Now
Create a Website: Showcase who you are, what you offer, and how you bring value to customers. A digital footprint is especially important since 90 percent of businesses start their purchase with research. And 88 percent of consumers research online before in-store buying. Businesses and consumers alike are looking for your digital footprint. (Our marketing consultant, Joy Capps, can help you quickly build your website and digital footprint.)
Use Social Media: Talk to your audience by posting useful content that they are interested in. Post regularly and often. If someone goes to your Facebook, Twitter or LinkedIn profile only to find you haven’t posted in over a year or more, they can quickly be turned off. Show you are on top of trends by consistently providing updates and information.
Promote Your Value: Since most insurance producers sell on price, you need to find opportunities to showcase the ways you’re different. Help your clients and prospects focus on the many ways you help them. In every touch point and interaction, shine the spotlight on the hands-on approaches you use to meet their needs. Remind customers about the value you bring.
Offer Value-Added Services: Be more than a broker or agent by offering more benefits to your clients than your competitors. Did you know you can offer things like HR Consulting Services? You can give piece of mind by meeting the staffing, payroll, and insurance needs of your small employer clients. Consider adding General Liability coverage to your offerings. There are many products and solutions you can offer.
Tap Into Technology: Speedy response is the name of the game. Set yourself apart by quickly responding to client requests for workers’ comp quote options, and much more. Did you know that one system can give you access to more than 150 markets and 40+ unique offerings for free? Earn higher commissions when you tap into the free Syndicated Appulate market access. Upload one ACORD to receive instant indications. Get started now.
When is now a good time to start? Take action on these five easy steps and set yourself apart today.
by David Bell | Mar 7, 2018
How do you set yourself from other insurance brokers and agents?
Do you sell on price like most of your competitors? Or do you build long-term relationships by selling on value?
Set yourself apart by finding ways to remind everyone about the value you bring your customers. Actively share what makes you different with everyone you know.
Dale Carnegie said it best: “Tell the audience what you’re going to say, say it; then tell them what you’ve said.”
In this case, your audience includes your clients, prospects, and even yourself.
Grab your copy of “10 Ways We Bring You Value,” so you can share your value with your clients immediately.
by David Bell | Mar 6, 2018
Every sales conversation finds you talking to clients about the excellent services you offer as an insurance broker or agent. But, you’ve quickly discovered that sharing how awesome you are can get you nowhere fast.
For some reason, people seem to go into the twilight zone with a glazed look in their eyes. Or if they are on the phone, you can tell that they’ve stopped listening to what you have to say.
Your pre-canned talk scripts and presentations are missing a few core elements to make you successful. Here are some essential truths that can help turn things around.
Five Essential Truths You Must Know
- Essential Truth #1: It isn’t about you. It is about them—your prospective customers. While this may sound counterintuitive, your conversations shouldn’t focus on selling products to others.
- Essential Truth #2: Your customers are interested in finding products that meet their needs and their problems. But, they won’t be interested in what you’re selling until they have a desire to solve their problems.
- Essential Truth #3: You need to engage your customers in conversations that allow them to discuss their business challenges. Sharing a list of memorized talking points does not allow dialogue and turns people off.
- Essential Truth #4: You need to define your customers’ pain points so you can provide answers to their burning questions. When you know what keeps your customers up at night, you can easily guide conversations towards the solutions you offer.
- Essential Truth #5: You need to showcase the value your knowledge and expertise brings to their company. Share how they can count on your services to make a difference year over year.
If you reflect back to the beginning of your journey as an insurance broker, you may recall that identifying your customers’ problems helped identify the products to sell in the first place.
These same issues can help you market and sell. Understanding what annoys, frustrates or hinders your customer gives you psychological ammunition that you can use to create trust and form relationships.
Once you are armed with this knowledge, you can start conversations so they creatively focus on your customers’ problems. Since most people like to talk about themselves, your discussion should create lots of dialogue that allow them to tell you about their problems and any potential objections.
By shining the spotlight on your prospects concerns, you’re creating a bridge that eventually leads to the products and services you provide. But it doesn’t happen overnight. This form of relationship marketing takes time to build—just like a friendship.
Think about the friends you trust. You connect with them because they get you. They understand what you struggle with and why. They empathize with you, and sometimes they even show you ways to do things that can ease your pain.
Now that you know the secret to connecting with customers and prospects, how can you tweak your sales conversations to increase engagement, and eventually convert to sales?
by David Bell | Mar 1, 2018
You make money when you can promptly provide competitive quotes selling workers’ comp to individuals or businesses. Since most work injury claims cost an average of $37,000, selling these policies should provide you with a constant revenue stream.
Think about it. Every business with employees needs workers’ comp protection, especially if they have occupational hazards or illnesses associated with their industry. Many states also make it mandatory, and some vendors are required to provide proof of coverage to bid on jobs.
So, selling workers’ comp sounds like a no-brainer for any insurance broker or agent to easily accomplish. Or is it?
Competition is fierce. You’re not the only insurance broker or agent selling workers’ comp that is looking to gain new clients and close deals.
Let’s face it, today’s world is a first-come, first-served marketplace. You may do all the work and lose the deal because you didn’t respond fast enough. How can you compete and win?
Here are six steps to successfully sell workers’ comp in any state.
1) Know workers’ comp requirements.
Before you start selling, get licensed for every state you’ll be selling workers’ comp in, and ensure you’re compliant with the mandated guidelines for each state. Stay on top of the mandates, as regulations can shift over time.
2) Educate yourself.
Understand class codes, laws and underwriting so you can anticipate answers to questions before they are asked. You should also learn key workplace injury statistics and claim facts – from productivity losses to recovery time to claim costs. Weave these points into your client conversations about their workers’ comp needs.
3) Sell your expertise.
Your knowledge is a commodity that can set you apart from competitors. It also positions you to give clients advice on rule, laws, and ways to save money. Go into client conversations armed with thought-provoking questions to ask your customer about their workplace potential risks. Help them focus on the reasons they need a workers’ comp policy.
4) Create a marketing plan.
Cold calling is hard. Create a marketing plan designed to help you target to the types of clients you want to reach. Marketing is a full-time job. Consider hiring a marketing consultant to set you up for success. (Ask our marketing consultant, Joy, to point you in the right direction.)
5) Develop a workflow.
Follow a three-step process that you walk through with every prospective client that Educates, Shops, Advises. Start by educating and informing business owners about workers’ comp rules. Let them know you’ll do the shopping so they can compare prices and quotes. Advise and help them with workers’ comp claims and coverages after the sale.
6) Work smartly.
Stop chasing rates and policy options as it can quickly eat up your time and diminish your productivity. Use smart tools that increase your market access and quickly gets you quotes, even for your hard-to-place clients. Don’t just sign up for these tools; actively use them. If you don’t know how to use them, ask the provider to guide you through the process.
These six steps seem easy enough to follow. But the devil is in the details, especially when it comes to quickly getting workers’ comp quotes. Remember, you’re competing with other insurance brokers or agents who may submit quote options to your prospective clients first.
Since quick response is the key to your success, you need to tap into smart options that help you quickly deliver.
Stop wasting your time navigating multiple carrier systems, dialing for quotes, and waiting for returned phone calls. Access exponential options and get quick quotes today using your free Syndicated Insurance Resources Dashboard. Save time and money by using our one-to-many approach. Upload one ACORD and receive instant indications.
Already have an account? Log in now. Need one? Sign up here. Either way, get started quickly finding quotes today. (Note: First-time users need to set up their Appulate Link.) Want someone to walk you through the process? Call or email us at 877.333.8195.
Stop leaving money on the table. Let Syndicated help you work smarter today!
by David Bell | Feb 8, 2018
Workers’ compensation insurance is something companies need. You know this because you’ve been successfully selling these types of policies for years. But you how do you win more business and keep existing clients coming back for more? Are you effectively communicating the value you provide employer clients?
Since most insurance producers sell on price, you need to find opportunities to showcase the ways you’re different. Help your clients and prospects focus on the many ways you help them. In every touchpoint and interaction, shine the spotlight on the hands-on approaches you use to meet their needs.
Before you can effectively share your value, pause a moment to reflect on what you’re not. When you sell workers’ comp insurance, you are more than an order taker. Managing paperwork and getting signatures on documents is only one step in a multi-faceted process. Finding insurance quotes is a result of the many things you do.
Your job is complex. It requires deep knowledge and expertise. You are good at what you do because you’ve spent hours learning the nuances of a very complicated subject — workers’ compensation. Your extensive training provides you with license(s) to prove you’re prepared to solicit and sell workers’ comp insurance.
How can you focus on the value you bring to clients? Make a list of the ways your services make a difference.
Whether you’re just starting out or you’ve been in business for a long time, you probably know ways to stand out from your competitors. But do you actively share your value with everyone you know? No matter where you are in your journey, make sure you reflect on the ways to bring value to your clients.
10 Ways You Bring Value
When you work with clients, do you provide one, all, or some of these value-added services?
- Advisor. Provide insights to help determine the protection your client’s business needs.
- Conduit. Funnel information between all parties and mediate interactions between employers and insurance carriers.
- Translator. Put things in plain English to help employers and employees successfully navigate a labyrinth of information that is typically difficult to understand.
- Guide. Help employers make better, informed workers’ compensation programming decisions.
- Fixer. Identify areas clients could possibly change to positively impact their workers’ comp loss run reports.
- Evaluator. Look at a company’s risk to locate the right types of policies at the best possible rates.
- Shopper. Leverage the right tools and resources to quickly find the policy options that fit your employer client’s needs.
- Analyzer. Review data about employee injuries before the “magic moment” and make sure cases are not open that should be closed. This analysis can quickly assess ways that may help lower experience mods.
- “Boy Scout.” Help your client’s prepare for workers’ comp audits in advance by reviewing payroll records and checking job classifications for possible mistakes.
- Creator. Develop a process for employers to follow when accidents occur. This can help ensure claims are filed appropriately while employees receive help and can return to work quickly.
This list is not comprehensive, as there are things you do that others do not. Take a moment to reflect on the ways you help your clients. Use this as your foundational list, and add additional ways you provide value over time.
Download this one-page PDF we created just for you: “10 Ways We Bring You Value.”
Create Constant Reminders
Now that you have your list, you need to find ways to remind everyone about your value continually.
Dale Carnegie said it best: “Tell the audience what you’re going to say, say it; then tell them what you’ve said.”
In this case, your audience includes your clients, prospects, and even yourself.
Place your values in strategic places that are highly visible. Leave them in plain sight for everyone to see. Here are a few easy ways to remind people about your value:
- Create a framed sign for your office.
- Post the information on your website.
- Print a flyer that you include in your welcome folder.
- Highlight one value every month in your email signature.
- Include it in your newsletter.
- Make a Facebook ad touting your key differentiators.
The opportunities to promote your value are endless. So toot your own horn and remind people about the benefits of doing business with you.
Grab your copy of “10 Ways We Bring You Value.” We created it so you can share your value with your clients immediately.
