As an insurance expert, it’s up to you to ensure that your clients and prospects understand their policies as well as you do.
As an insurance agent, you offer a variety of products that protect people’s properties, businesses, and financial futures. Yet your prospects and clients won’t buy those vital policies until you’ve clearly communicated why they need them.
Simply understanding your products won’t convince your clients and prospects to buy them. In order to close a sale, your clients must understand exactly what they are buying and how it benefits them. With some of these strategies, you can ensure that your clients and prospects understand their policies as well as you as you do.
Simplify Insurance Language
While you may be an expert on the subject, your clients and prospects might struggle to understand insurance. You can bridge the gap by explaining in layman’s terms what the policy covers, any exclusions, and claim filing procedures while encouraging your clients to ask questions if they need additional clarification on any points. Most importantly, breaking down complicated insurance terms in straightforward language reduces the potential for future misunderstandings between you and your clients.
Unfortunately, many of your clients and prospects may fail to grasp the risks posed by unexpected events such as a fire or a car accident. In those instances, it’s up to you to communicate the positive impact insurance can play in their daily lives. Telling clients that an auto policy can cover some of the cost of a rental car, for example, won’t be an effective pitch unless you can illustrate its value in a more personal, concrete way. By explaining that it can help them replace their primary car while it’s undergoing repairs, you offer a clear example of how insurance can help policyholders quickly resume their normal lives.
Explain the Price-Value Proposition
Many of your prospects and clients, of course, do understand the importance of insuring their assets, and therefore seek more than a low premium or minimal coverage. Those clients and prospects instead seek a trusted resource who can guide them to an affordable policy for their needs. As an agent, you need to clearly communicate to them the price-value proposition of insurance. When discussing price, emphasize the value of what they are buying for their monthly premiums. A 30-year term life insurance policy for a 30-year-old male, for instance, costs $240, but provides up to $250,000 in benefits.
More Than Oral Communication
You likely speak to your clients most often in person or over the phone, but since you also engage with clients via email or letters, make sure to write clearly, concisely, and professionally when following up on inquiries, detailing policy terms, or sending out marketing materials. This also holds true for your social media posts, which should be free of jargon and grammatical errors. Non-verbal signals are similarly important, so be conscious of your body language as you talk with clients. Your words — and actions — should put your clients and prospects at ease and instill in them confidence in your ability to help them.
Insurance agents provide a worthwhile service to their clients. But in order for your clients and prospects to obtain those products and the benefits they offer, you must clearly communicate the peace of mind insurance offers to them.