How to sell insurance?

Now you decided to be an insurance agent and you want to know tips about how to sell insurance. Well, selling insurance is completely different from selling anything else. You are selling promises that whatever may happen in the mysterious future, it is OK, you are OK. These tips will make you be professional enough to sell insurance effectively.

1. Get your license:
To be a professional insurance agent, get your license by applying for tests. Once the clients know that you are well-educated in selling different types of insurance, they begin to relieve and trust you.
There are plenty of companies and agencies that offer these tests. Pass tests in life, heath, home, cars and anything that people buy insurance licenses for.
The more certificates you get, the more clients who will trust you. Also certificates make you higher rated than other agents.

2. Ask and listen well:
To properly meet the needs of your customer, you need to ask the proper questions, listen carefully to the answers and understand what your customer wants well. If you sell a home insurance, the questions will be about what things are so valuable in the home and what dangers the family is afraid of. The questions will be different if you sell a different kind of insurance.
Listen to the answers and know exactly what the client needs. Tailor the policy to fit what he/she needs and make good offers. You are now in the middle of the selling process.

3. Explain Everything:
You are working in the persuasion business. This means you need to be able to explain to the client why the insurance you are selling is the best for him/her.
The capability of persuasion comes from confidence and knowledge. These two things will make clients trust you from the very first moment.

4. Talk about your experience:
You will earn a lot of credit if you bring this point during your conversation with the client. When you mention previous examples of clients you have done business with, the client will feel how trustful you are especially if you mentioned a client with the same conditions. If you are a new agent, talk about the experience of your agency.

5. Having an insurance agent does not raise the price:
Many people think that insurance policies are expensive because they will pay a high percentage to the agent. That is not even true. The agent works for a company which pays his/her salary.
Dishonest agents may exploit this point to get more money and dishonest companies develop plans around this myth to make you pay more.
Good, honest agents are those who will tailor the policy so you will pay less. Otherwise it is fraud.

The price of the policy is the first thing the client thinks about after deciding to buy insurance in the first place. The smart insurance agent is the one who follow the steps gradually till selling the policy. Think of every client as a chance to build a reputable career as an insurance agent and you will do your best.

How to be a good insurance agent?

A simple guide for new agents and customers too.

It is true that good insurance agents make a lot of money. But what are the characteristics of the good agent? The following points will show you how to be a good insurance agent in addition to guiding the customers who are looking for insurance agents to purchase insurance for their properties.

 1. Full knowledge of the product:
You need to persuade the client to buy insurance policy to his/her property and you will only be able to do that if you fully understand the product in addition to the insurance policy. You need to realize things like the financial value of the product, the sentimental bond between the client and the product, the points that will be covered in insurance and situations when the insurance policy will not pay for damages. Be able to explain everything to your client.
Communication skills play a major role here. You must work hard on developing these skills if you keep losing customers due to lack of them.

 2. Work ethics:
There are several points that must be followed or you will not be a good insurance client:
– Honesty: telling the truth is the best way to earn the client. If you are dishonest, you will not be a good insurance agent and you will stay in business.
– Dedication and commitment: once you start your business, you should keep expanding it. Don’t settle and earn more customers.
– Patience: You will be rejected more than once. If you are not patient, this job is not for you.
– Enthusiasm: You must show a great deal of enthusiasm to earn the client. The client should feel that you really want to help him/her.
These ethics will not only help you start tour business fast but also continue successfully for a long period of time. The more work ethics you have, the more reputable you will be and the more money you will be paid.

 3. Problem solving skill:
Most insurance policies need to be tailored to fit the customer so most of the job is to find creative solutions for different situations.

 

 

 4. Learning capability:
The insurance laws change all the time, products get more complicated, new products are produced all the time and clients’ questions keep growing and changing all the time. You need to be capable of learning about everything new regarding insurance.

 5. Availability:
Clients love available agents. Imagine a boat owner who have just bought his boat and needs to finish a boat insurance policy right now to go boating. When you provide availability, you will earn clients like this boat owner. Try your best to be well-organized so you can be available without affecting your business.

Insurance is a career that needs too much energy. The more energetic you are, the more money you make. Work hard and smart, develop your skills and you will find out how awesome your career will be. It is a job for those who seize opportunities well.

5 major problems facing insurance industry

insurance industry is one of the major businesses worldwide. It is an expanding business that hires a lot of people and deals with a huge amount of money annually. And like any major industry, insurance faces a lot of problems. If you are an owner of insurance company and you are not totally aware of these problems, they may end your business immediately. So let’s take a look at the top problems facing the insurance industry and understand them completely.

 1. Fraud:
Methods of fraud are getting creative every day. Once a method is discovered, other methods appear. Take care and discover such criminals immediately.
In addition to that there is the high risk of hacking. If your customers can apply online for insurance, their personal and financial information are in danger in addition to your data. Consider hiring a technical team that is capable of securing your website completely to avoid getting hacked.

 2. Cutting costs:
Sometimes cutting costs becomes inevitable and may produce unpleasant consequences to your company. You must make sure that the costs you are cutting will not affect the quality of your work. Also make sure that when you cut the costs at a place, it does not increase costs at another place.
The best thing to do is to have a comprehensive investment plan that not only includes cutting costs but also other things like training, marketing and advertising.

 3. Lack of demand:
Life is getting hard. Prices are high and people want to keep their money with them just in case. All these things make people think of insurance as extra money they don’t need so they either don’t think of getting insurance of end their contracts. They want to invest their money somewhere else and this causes a lack of demand.

 4. New technologies:
It is a major business and that means new technologies play a major role in determining the efficiency of it. Some examples are:
– The big amount of data that needs to be restored and processed well.
– Having a website that represents the company so if the clients search online, they will find your company.
– Data analysis so you can evaluate if your business plans are going well or you need to change or edit them.
Insurance companies should consider these new technologies to develop their business. If your company doesn’t regularly develop, other competitive companies do.

 5. Customer Satisfaction:
Customer is the main target of your business. Manage your customer’s claims, tailor the insurance policy to fit each customer and listen well to their needs. Customer satisfaction is the most challenging thing in the job, anything else can be managed but if you lost a customer that will not only affect your business but also your reputation. The more satisfied customers you have, the more reputable your company will be and this means more potential customers.

Insurance is a business you can invest in. It is not risky if you understand well the potential problems. Taking your precautions to deal with any problem that may emerge suddenly is the key to a successful, long-term business.