I Have a Few Questions
- Thread starter billyb
- Start date
I can't speak of insurance, but when I sold cars our dealership was priced about 1k over the other dealerships selling the exact same car. Difference was the experience you got. We were always over staffed, never kept a customer waiting. Our service dept got work done 50% quicker than most. It was those small things that made a big difference.
Idk if insurance is any different, I do not have enough experience - but lower price does not make something necessarily better.
- 6,994
The value is in the eyes of the prospect. Sometimes salesman help create that value.
We've had the discussion of agents replacing a lower priced WL policy with a more expensive one because it came with accidental or even member benefits.
Is that wrong? I might not do it, but this is still sales. We aren't forcing our prospects to sign on the dotted line.
But any successful FE agent will tell you, that at the end of the day, price is one of the most important values to our prospects.
Whether it's FCGS, Accidental, member benefits or whatever addon value someone might sell when they are in the house, all that is forgotten when a lower price is shown.
Or better yet, when more "free" coverage is shown for the same premium.
Now if I get replaced, which is very rare, I go back out and try to save the policy. I'm successful 99% of the time. Usually the replacing agent sold the client in a less than ethical way.
However, I replace policies ALL THE TIME. Almost always for a lower premium or more coverage for the same premium. But the replaced agent very rarely tried to conserve.
Maybe that's just my area. I think you can contribute it to a number of factors. High turnover, poor training and sometimes just outright laziness.
Oh well, I'm not complaining. This is why having good training and support is so crucial for new agents. Especially agents that are new to insurance and/or running a business.
We've had the discussion of agents replacing a lower priced WL policy with a more expensive one because it came with accidental or even member benefits.
Is that wrong? I might not do it, but this is still sales. We aren't forcing our prospects to sign on the dotted line.
But any successful FE agent will tell you, that at the end of the day, price is one of the most important values to our prospects.
Whether it's FCGS, Accidental, member benefits or whatever addon value someone might sell when they are in the house, all that is forgotten when a lower price is shown.
Or better yet, when more "free" coverage is shown for the same premium.
Now if I get replaced, which is very rare, I go back out and try to save the policy. I'm successful 99% of the time. Usually the replacing agent sold the client in a less than ethical way.
However, I replace policies ALL THE TIME. Almost always for a lower premium or more coverage for the same premium. But the replaced agent very rarely tried to conserve.
Maybe that's just my area. I think you can contribute it to a number of factors. High turnover, poor training and sometimes just outright laziness.
Oh well, I'm not complaining. This is why having good training and support is so crucial for new agents. Especially agents that are new to insurance and/or running a business.
I've written around 1000 FE apps since mid 2014. Not once has a prospect asked or cared about the rating of the company that I was writing. Nor have I lost due to the agent I replaced coming back and upseting the sale because his company was better rated.
Most of the obstacles we face in this business exist only between our own two ears.
Most of the obstacles we face in this business exist only between our own two ears.
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