There’s more to becoming a successful insurance broker than simply passing the exams and knowing the insurance concepts. You also need to know how to sell.
What comes to mind when you picture a salesperson? Is it the pushy style that you see in movies like Glengary Glen Ross or Wolf of Wall Street? Or is it someone who positions themselves as a trusted adviser to their clients?
Many of your clients will see all insurance products as being the same. To them, there is no difference between different insurance companies, all they see is price. So when you are selling a client, what are you selling?
You are selling yourself! You are selling your expertise. You are selling the peace of mind your client will get knowing that you’re responsible for protecting their assets.
How do successful insurance brokers sell?
Traditional selling involves pitching your client based on what you think they want or need. This can work, but it’s not very personal.
Successful brokers use consultative selling. This involves a 2-way conversation between yourself and the client where you act more as a consultant than a salesman. You ask them questions that help you understand their risks, you dig deep and uncover what their needs are. And most importantly, you listen more than you speak.
Bonus points if you can even help them uncover a risk area that they didn’t even know they had!