I Am Still New and Willing to Learn

May 18, 2016

  1. Belayne
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    Belayne

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    Hello, I have been in insurance doing P&C for about a year. I am wanting to learn anything I can. I struggle the most with objections and closing the deal. Any advice is welcomed and greatly appreciated!
     
    Belayne, May 18, 2016
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  2. thomasm
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    thomasm Guru

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    Welcome to the forum.

    Tell us some of your most common objections that you're struggling with, so people can respond with their best rebuttals.

    Might help also to know if you are representing one carrier, or have several carriers to shop from.
     
    thomasm, May 18, 2016
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  3. Belayne
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    Belayne

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    I represent Farmers Insurance. The objections I hear the most are I just renewed, price is too high, price is the same as what I'm paying now, and I'm not interested then they hang up.
     
    Belayne, May 18, 2016
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  4. thomasm
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    thomasm Guru

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    I generate exclusive leads for a farmers agent by door knocking. I assume you know bundled preferred business is where you're competitive. (high credit score; no claims; home & auto)

    If you're telemarketing, you can get lists that filter credit score (700+) and the year house was built. (preferably 1995 or newer)

    Here's the script I use. It's works whether you're on the phone or at the door. (except at the door you don't know their name or phone number so you tweak it a bit)


    "Hi Jim? It's Belyane calling, did I catch you at a bad time?

    I'm with the local Farmers agency down the street in (city/town.) We're just letting folks know about the recent rates reductions that were published in your area.

    We've been able to help a lot of your neighbors find lower rates for the same if not better coverage on their home and auto insurance. Just on auto alone we've been save some people as much as $500 a year.

    I don't want to hold you up now, but what I can do for you is gather some very basic information, and I'll get back within a day or two to let you know how much we can save you? Would that be alright with you?

    Great. Who do you have your cars insured with now?

    Cool! How long have you been with them? That's awesome!

    And just a ballpark figure, how much are you paying? Wow!

    And how many cars do have insured with them? What are they? Perfect! Any additional drivers? Thier names?

    Ok almost done here, by the way, you can also get a bigger discount by bundling your home as well, do you own? And I have your address at 123 Main St. in (city) correct? Great!

    Thanks for sharing that information with me! Just so I can get you the most accurate quote, what's your date of birth? And (additional drivers) dob?"

    OK, thanks for your patience! I'll do some checking around, and get back in touch with you with an honest assessment of how much we can save you!

    Have a great day!


    And now for the objections.....

    I just renewed...

    "I understand. Have you shopped with Farmers recently though?" If they say yes and it's been very recent, I just let it go, but if it's been awhile say something like, "I know how much of a hassle switching can be, but with our recent rate reduction in your zip code, it might be worth a second look, especially if we can get you same coverage for much less. And I promise, if there's significant savings there, I'll take care of everything for you, to make the switch painless and hassle free! How many cars do you have insured with them?"


    Price is too high? Make sure your targeting preferred business. You can't compete with standard rates! And if you can't beat thier preferred rates, transition into the life insurance conversation. Farmers agents write a lot of term!

    Price is the same?

    Watch some of those farmers commercials and you'll figure out how to overcome that. Price isn't the only concern. It's whether they're going to be covered in a loss!

    I'm not interested;

    You can't sell to people who are not interested. They're either interested in a quote or not! the above script will help with this. They will usually tell you why there not interested.


    Try going out and door knocking middle to upper class homes and with the script above and your people skills, you'll be surprised how easy it is to generate leads, depending on where you live. (lots of suburban track homes are ideal.) I generate between 7-10 a day pretty reguarly.
     
    Last edited: May 21, 2016
    thomasm, May 21, 2016
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