How to handle sensitive info via telesales call

[WA newbie]

Hey all!

As the handle suggests, I'm a newbie. That said I have one simple question, the answer to which could help in deciding who to sign up with as there are a plethora of choices.

Let's say I call Ms. Betty about FE ins and we're at the point in the conversation where now I need her banking info, but it's a telesale and she's understandably nervous about giving it out. Any suggestions on how to handle this delicate matter?

Thanks in advance!

 

[DHK]

So... you're at the point now where she doesn't believe that you're a licensed life agent representing multiple companies... after discussing multiple companies, contract provisions, and rates?

 

[WA newbie]

DHK, great question. She believes me till I get to that point. Now she's nervous because of all these stories of elaborate scams she keeps hearing about and is wondering if there's another way to relay the info without giving it to me directly.

 

[somarco]

You have not yet earned her trust. She probably reads hesitation in your voice when asking for bank information.

 

[WA newbie]

Somarco, could be. So what to do? She's still interested.

 

[DHK]

Send her a copy of your state license that you are regulated and authorized by the state to collect banking information in order to secure coverage for the citizens in your state.

Also, emphasize that we're only talking about $xx.xx to start and each month.

 

[somarco]

I don't work the FE market but my limited understanding seems to indicate there are multiple ways to accept payment.My business model is also 100% phone sales, just a different market. I am also more experienced than you and convey confidence in dealing with prospects. They are very comfortable sharing information, often without my asking.

On rare occasions I will have resistance to giving bank information. Depending on the carrier I can offer credit card or bill when issued. Lacking CWA is often a sign of a weak sale, and some carriers don't offer that option.

If they are adamant about giving out bank information my usual pivot is to offer a different carrier that doesn't require CWA or allows a credit card.

"I understand. Would you rather pay by credit card or have the carrier bill you once the policy is approved? You understand the premium will be higher, is that OK?".

When they ask "How much more?" I know there isn't a lack of trusting me, it is distrust about the payment process.

Maybe a couple of times over the last few years they respond with "I don't give that information by phone, but I will give it in person".

I make it quite clear I don't come to their home but I am willing to meet them in a public place, such as Starbucks, that is near my home. I have a few clients that have agreed to meet me and only two that refused so I suggest they find someone else who is willing to come to their home.

If you are desperate to make a sale (I am not) you will do anything to comply with their wishes. I would rather deal with folks in my terms, not theirs, while still willing to accomodate them up to a point.

 

[NewbieNewbie]

If you can't get payment there is no trust. Period. End of story. You say she is nervous about giving it out. My hunch is you are nervous about asking for it.

 

[WA newbie]

Hey DHK, good idea, thank you!

 

[WA newbie]

Somarco and NewbieNewbie, thank you for the insights. I live is a different state so can't meet in a different place but not a bad idea otherwise. Newbie, I didn't think I was nervous but maybe she's picking up on something I'm not even aware of. The subconscious is a funny thing.