If you already sell accident insurance, you will have noticed how this task is becoming more and more complicated. This is due, among other factors, to the profitability of these products (as long as you know your buyer persona, know how to highlight their advantages…).
Therefore, today we want to give you some guidelines so that you too know how to sell accident insurance and compete against the big players.
What is accident insurance?
Accident insurance is designed to provide financial compensation in the event that the insured suffers an accidental injury, disability or death.
Although it will vary by company and coverage, it usually covers medical expenses, loss of income and other costs resulting from the accident.
It is essential for everyone, since accidents can happen at any time and the consequences not only affect the individual, but also his or her family and assets.
Why sell accident insurance? Advantages and benefits
As we will see below, the advantages of selling accident insurance not only apply to insurers and brokers, but also to policyholders and beneficiaries.
High demand
As we have already said, accidents cannot be foreseen and this uncertainty and the risk of accidents make many people opt for prevention and seek financial protection.
Recurring income
This type of insurance has a high renewal rate, so its distribution could guarantee you a steady income stream over time.
Financial protection
For your clients, in case they suffer an accident, this policy would provide protection against medical expenses, loss of income… avoiding them the financial burden that this type of unforeseen events may entail.
Portfolio diversification
Undoubtedly, adding accident insurance to your product portfolio can help you reach more people, in addition to cross-selling with the portfolio of clients you already have, offering them the convenience of having all their insurances with you.
Customer loyalty
Related to the previous point, offering them the insurance they need based on their profession and other personal factors will help you retain your customers and increase loyalty in the long term.
Tips to sell more accident insurance
Know your potential customers
It is essential to understand who your target audience is and what their needs are. Research their habits, interests, concerns and demographic characteristics. This will not only help you launch effective insurance campaigns, it will also allow you to give a personalized approach to your sales and offer them coverages that are really useful to them.
Educate your target beforehand
It is more normal than you think that many customers do not know exactly how accident insurance works and what they can expect from it.
Invest time in teaching them and showing them the features and advantages of these policies, either through blog posts on your website or when addressing them privately.
This will also give them security when contracting, because they will know that they are doing it with professionals in this type of products.
Build relationships of trust
Although we have already touched on the previous point, trust is key in any sales process, but even more so when dealing with such a delicate subject as insurance and accidents.
Be honest and transparent. Keep in touch with them and try to continue serving them with the same dedication even if they have already contracted.
Use technology to your advantage
Using insurance software can not only make your job as an insurance distributor easier. They also make it much easier for your customers to take out insurance. Choose embedded insurance technology that allows you to integrate quoting tools into your website, give them the option to buy online… Digitalization has also reached the insurance sector.
Offer a good after-sales service
Don’t make the mistake of neglecting your customers once you’ve closed the sale. Staying just as attentive could ensure future renewals, as well as reinforce your brand image and the likelihood that they will speak well of you. Respond to their queries as soon as you can, provide ongoing support…
Have a good website
We all use the internet and shop online. Having an insurance website is no longer an option but a must. It must be well designed and optimized for SEO.
With this, besides adapting to new consumer habits, you will also gain visibility and attract potential customers.
Take advantage of social media
Using good practices, they can be very effective in selling insurance through social media in addition to reaching your target audience.
Although this may vary depending on who is giving you advice, our advice is to create profiles only on those networks where your potential customers actually are. Once there, share useful content and don’t just post for the sake of posting. Share security tips, customer testimonials…
Promotions and discounts, but do not overdo it
Although there are other strategies that will help you compete on values other than price, resorting to specific promotions and discounts can be a good way to get new customers in certain cases. Discounts for new clients, special promotions during certain times of the year, such as Black Friday… They could be an incentive to choose your insurance and not that of your competitors.
Do your best to keep up to date
As you may have already experienced, the insurance industry is constantly evolving. Therefore, doing your best to keep up to date with the latest trends, regulations and products on the market can be key. Attend insurance webinars to improve your skills and knowledge.
Frequently asked questions on how to sell casualty insurance
What are the characteristics of good casualty insurance?
A good accident insurance policy is not one that offers comprehensive coverage, but one that is adequate for the person who has taken out the policy. It is usually expected that the policy includes medical expenses, loss of income and compensation for disability or death? But always being flexible and tailored to specific needs.
How can I educate my clients about accident insurance?
There are countless tools you can use for this task. We recommend that you opt for digital resources such as webinars, explanatory videos, posts on your networks or blog… In addition, you should be available to answer any questions that your customers may have individually.
Is a CRM really necessary to sell accident insurance?
Of course, it is not crucial to have a CRM to sell insurance, as long as your customer base is small, you work alone and you are able to keep a very comprehensive control system.
Even so, our recommendation will always be that you opt for a digital tool that facilitates this management and helps you to improve the efficiency of your sales. You will be able to keep a much more detailed track of interactions with customers and their specific needs.
What kind of content should I share on social networks?
It occurs to us that you can share educational and relevant content such as profession-specific safety tips, information on accident insurance, what to do in the event of a claim, customer testimonials…
Another resource that we find very interesting is to share industry news and updates about your products and services.
What to do if a customer is not satisfied with their policy?
Listen to their concerns and look for a solution that satisfies them. Offer alternatives and be transparent about the limitations of the policy. Good after-sales service can turn a negative situation into an opportunity to strengthen the relationship with the client.
