As you may have already seen, when selling insurance to companies you will have to sit down with the person in charge of making insurance decisions.
Depending on the company, this person may be dedicated exclusively to this task or it may be the manager himself. In either case, the person will have expectations of what they need and are looking for.
We know that you are targeting an audience that is not always easy to reach, let alone gain their trust. For this reason, today we want to help you get started in selling insurance to companies or improve your work method with these keys.
Study the market
Before starting to act, it will be necessary that you stop to investigate the global insurance market and specifically business insurance. Not only will you find out what types of insurance are available and how they relate to the type of company you want to sell to, but there are other reasons why this research is advisable:
It helps you find the products that best suit both companies and expectations
Both to the companies and to the expectations of those who are going to make the final decision.
You can find needs that are not yet covered within the sector
More often than we expect, the needs of niche markets are often unmet. This is because we tend to generalize and believe that they present the same requirements as at the generic level.
Allows you to make better strategic decisions
Being able to study the current framework and foresee the future can ensure you make better decisions that will guarantee you maintain or accelerate the growth of your business.
Work on your online presence
It is clear that the insurance industry is one of the most hard-fought sectors and that a good online presence is not achieved overnight. Starting to work on your authority will ensure sales in the medium and long term, positioning you ahead of those competitors who have not yet started.
To this we add the behavioral trend present in any buyer profile: everyone buys online and more and more. Betting on selling insurance on the Internet is an investment in the future that you will be grateful for having made today. Keep in mind that online presence is a long-distance race and the more authority you have, the harder it will be to catch up.
Create your insurance website targeting specific companies, advertise on social networks… there are many online channels and portals where you can be present. In the case of companies, LinkedIn can be a very good showcase.
Create a database with all your contacts
Whether they are customers or not, a rich and updated database is one of the best tools you can have to sell insurance. Emails, addresses, phone numbers, links to their main social networks… and even a history of the evolution of the sale; all data is useful when addressing your customers or potential customers and building good relationships with them.
For this task and whatever the size of your business and number of employees, using insurance software is usually the best option.
Establish relationships
In line with the above, having as much detailed information as possible about each user or customer can help you not only to understand them and their needs, but also to give them a personalized treatment that makes them feel cared for. Refer to previous communications, be able to continue the conversation even after several days have passed…
Offer a specialized package
It has been proven that offering your clients specialized insurance packages tends to get a better response than generic ones. For this reason, working with specific business insurance or insurance packages can help you achieve better closing rates and even speed up maturity times.
Follow the trends
The reasons why you should stop to observe market trends and behaviors, both generic and business-specific, can be very useful. This is the only way to know how to address your target audience, anticipate future needs and even foresee seasonality.
Promote your business
You already know the sector, its trends, the companies you want to target… why not promote your insurance on the Internet? This will help you increase your field of action and reach more potential customers.
There are many ways and places to advertise. Even so, considering that we are talking about selling insurance for businesses, opting for LinkedIn or Google search campaigns could be a good place to start testing.
Offer support
In most cases, especially in markets and products where competition is high, providing accompaniment and support can be a value proposition that is the determining factor in deciding to contract with you and not with another agent or brokerage. Make them feel that they are not alone and commit yourself to solve all those insurance-related problems that may arise.
Have a business plan
Without a doubt, setting goals and how to reach them is essential. Having a business plan will not only help you not to lose focus, but also to check if you are meeting your goals, if there are lines of improvement, if you were too optimistic or pessimistic with the times… and even to foresee future results.
