Sales methods common to all insurance products
The automotive product, the home product
Sales methods specific to these products
Combination of common and specific sales methods for cars and homes
Sales methods common to all insurance products
Before “ choosing ” a way of approaching a customer (sales method), it is important to clearly identify the circumstances in which this customer is encountered.
Several situations are possible :
1 - Person already in the agency's portfolio (client)
2 - Person who is not part of the agency's portfolio (prospect)
3 - Person who comes to the agency on his own initiative
4 - Person that the agency brings for an appointment
These 4 situations can be combined with each other :
1 + 3 : The person is already insured with us and comes to the agency spontaneously
1 + 4 : The person is already insured with us and comes to the agency on our initiative (appointment fixed)
2 + 3 : The person is not a client of the agency and comes to the agency on his own initiative
2 + 4 : The person is not a client of the agency but comes to an appointment at our initiative
Depending on these combinations, the sales method should be adapted to be as relevant and efficient as possible.
It should be noted that nowadays it is imperative, in order to develop properly, to solicit clients and prospects in order to bring them to the agency. It has become dangerous to be satisfied with only the passive flow of customers and prospects.
The situations suffered : 1 + 3 and 2 + 3
This is the person who spontaneously comes to the agency.
In these situations it is impossible to anticipate the content of the upcoming exchange….
This is the person who will "set the scene " for the sale, most often showing you a simple need (unique and precise)
It is therefore imperative to respond as a priority to this simple need in order to meet the customer's request and not to cause frustration which would then be red h ibitory.
Once the response to the simple need has materialized (insurance proposal on auto insurance for example), it will then be necessary to go beyond the scope of the customer's initial request by creating other insurance needs in the customer.
These other needs may have been detected during the client's discovery phase, in particular if it is a prospect (scenario 2 + 3) or thanks to the IT tool (client file) offering the summary insured risks for our client (scenario 1 + 3)
The method used will be the one known under a name " rebound sale "
It is imperative to exploit all contacts with customers and prospects, especially those contacts that are triggered on their initiative.
We must not be satisfied with responding only to the request (simple need) of the person.
The " rebound sales " method makes it possible to exploit these " easy " (unprovoked) contacts by offering the visitor (client or prospect) several insurance solutions adapted to these needs (conscious needs and unconscious needs).
This method is not specific to the field of insurance, any successful salesperson must use this method to fully exploit his contacts.
The added value of this method is therefore the multi-sale, or at least, the multi-proposal of insurance.
The downside is that this method is time consuming and can therefore disrupt the planned schedule (scheduled appointments for example).
It is therefore necessary to know how to manage this method over time.
In addition, the customer may feel annoyed or weary after a while if you are too pushy and greedy.
It is strongly recommended not to make more than 3 insurance proposals in total, it is preferable to set a later appointment in order to continue the multi-sale.
It will also be necessary to take care to set with the person, if the sale is not concluded immediately, a time limit for reflection beyond which you will contact the person again to know his decision on your proposals.
Summary of the method :
Spontaneous and unplanned visit from a client or prospect
Understand the person's request (simple need)
Satisfy this request without addressing other subjects
Bounce back on one or (more) other insurance needs detected by questioning (prospect) or information (customer) ...
Clearly identify this additional need 1
Respond with a proposal to this need
Bounce back on another insurance need detected by questioning (prospect) or information (customer) ...
Clearly identify this additional need 2
Respond with a proposal to this need
Summarize the needs expressed and the proposals made
Fix with the person a maximum time for reflection
Make a new appointment if necessary
The situations provoked : 1 + 4 and 2 + 4
You are the one who brings the person to the agency.
These situations are therefore provoked and programmed. It is therefore possible to prepare them upstream in order to optimize their effects.
It is you who alle z " plant decoration " of the sale by offering your various partner needs to be addressed.
Beforehand so you fix ed an appointment with the person and probably (better) a maintenance period.
It is strongly recommended to respect the schedule of the appointment (do not be trapped by spontaneous visits ...) and its duration (the person undoubtedly has other requirements, you are not their only concern) .
At the beginning of the interview, it is welcome to confirm with your interlocutor the time that he can allocate to you (reciprocal commitment).
If you bring in a client from your agency
2 methods can be used depending on the circumstances :
The “ Harpoon - Pelota ”
This method consists in bringing in the customer for a product well determined in advance, a product for which the attractive potential is very strong. For example promotional rate, innovative guarantee, preferential insurance conditions for customers… .etc…
You are therefore bringing in the client for a specific subject, so it will be imperative to keep your “ promise ”. After presenting your “ harpoon ” product, you will have to capitalize on this interview by offering your client additional contracts in order to best cover their insurance needs, conscious or unconscious. Of course, a prior analysis of the risks insured by the client and therefore of the contracts in the portfolio will make it possible to have an efficient and targeted commercial approach.
Summary of the method :
Contact the client in order to offer him the “ harpoon ” offer which will bring him to the agency
Analyze the client's “ contract ” equipment in order to better prepare and optimize his visit to the agency.
During the meeting, present in detail the “ harpoon ” offer and have the customer subscribe.
Then the question on these other insurance needs in order to make her other proposals (multi-equipment / Cf . Rebound sale)
If necessary, make a new appointment with the client to deal with his other insurance needs later.
The “ Insurance Balance Sheet ”
This method consists in bringing your client to the agency in order to carry out with him an assessment of his insurance needs and the solutions provided or to be provided.
The client normally easily accepts such an appointment because for him it is a quality approach that reassures and enhances him.
For the agency, it is a way of expressing the customer's interest in them and demonstrating the quality and seriousness of our customer care, it is an act of loyalty.
This review should focus on two approaches
Review existing contracts and check that they are still in line with the real needs of the customer, do not hesitate to reduce the guarantees if necessary, for example by switching a vehicle from an “ all risks ” formula to a “ to the third ”.
This objective approach will help strengthen the relationship of trust between you and your client.
I dentifier possible insurance needs, often not aware, educate your client to the risks ... He propose customized solutions, always as part of a quality approach.
It is therefore often possible to partially finance these new contracts using the “ savings ” made on existing contracts ...
The objective for you being multi-equipment, which will contribute to the loyalty of your customer.
The more equipped a customer is, the more loyal he is… It is absolutely necessary to fight against “ mono-equipment ” which weakens the portfolio.
Summary of the method :
Contact the client by offering him a report on his insurance
Prepare well in advance the areas of progress on existing contracts and the potential to be exploited (new contracts)
Do not hesitate to revise certain guarantees downwards in order to strengthen the relationship of trust between you and the client.
Offer new contracts for risks not covered (or covered by competition of course)
If you bring in a prospect
When you bring a prospect to the agency (case discussed here) it is often the culmination of a prospecting process : mailing, phoning ...
This prospecting is most often carried out on the basis of a well-targeted offer relayed in the media, which reinforces its attractiveness.
The prospect who will come to the agency will therefore inevitably come to benefit from this offer.
We must therefore not disappoint him and satisfy his expectations (even hope).
Do not be under any illusions, during this meeting it is rare to be able to materialize other insurance contracts with the prospect.
It will therefore set a new appointment to this prospect to do with it stock of its insurance (cf . Method of " insurance record ")
On the occasion of this meeting, the objective is to recover the contracts subscribed to the insurance.
We must therefore initially focus exclusively on contracts signed with the competition.
Often clients and agency staff have a “ contract ” vision and not a “ global client ” vision . It is rare to be cheaper than the competition on all contracts, so do not fall into the trap of comparing contract by contract.
The strategy lies in a simple objective, to save the prospect, which is a sine qua non condition to have a chance to conquer him.
To do this, it is therefore necessary to use the " overall gain " method.
This method consists in making counter proposals for each contract subscribed to the competition, then to compare the sum of the contributions of the contracts subscribed to the competition with the sum of the contributions of our proposals.
In the end, we must arrange for the total of our proposals to be lower than that of the competition. What matters for the customer is that his “ insurance ” item decreases….
Summary of the method :
Take stock of contracts signed with the competition
Make counter proposals for each competing contract
Generate savings on contracts for which it is possible
Demonstrate that the overall insurance cost of our proposals is lower than that of the competition
Other sales methods
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