Making the most out of your client base, or wasting time?

Nov 8, 2008

  1. new insurance girl
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    new insurance girl New Member

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    I am working with a large insurance company. We are currently calling on existing auto/homeowner's insurance customers to try to sell them life insurance. I know that it is important to get the most out of your customer base...but I feel like I am wasting my time. No returned calls, a few hang ups.

    Any bright ideas? We are targeting homeowner's and asking them if they have thought of who would be left with the burden of paying off their mortgage and other bills. It seems like the wrong time of year, and the wrong time in the economy to be making these calls.
     
  2. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Re: Making the most out of your client base....or wasting time?

    If you're waiting for "the right time of the year", or a better "economy", you'll be waiting a long time...

    Making phone calls about the "burden" of paying off their mortgage is the equivalent of human spam. No wonder they hang up!
    It's tough for a P&C agency to grasp the life insurance thing, as they are used to people buying a "demand" product - which life insurance is not.

    Best and most effective process with P&C agencies is to send auto/HO clients a note about six weeks before their birthday along the lines of, "if you were thinking of making any changes to your life insurance, now is a good time, before you get older, and it gets more expensive."

    Instead of wasting time/energy, let them contact you.

    If it's done on a consistent basis, it will result in a fair amount of life apps.
     
  3. new insurance girl
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    new insurance girl New Member

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    Re: Making the most out of your client base....or wasting time?

    That's a pretty good one! Now...if I could just get the human spam thing through to my team leader! lol

    Thank you!
     
  4. Mark
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    Mark Guru

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    Re: Making the most out of your client base....or wasting time?


    I have a plan for you that I believe will work. Contact me after reading this post at [email protected] and I will try to help your improve your numbers and sales.

    If you working your existing auto insurance clients, try this.

    I would start by not calling them, but writing to them.

    I'm going to give you the key points of what I would write to them. But you will have to make it your own and customize it.

    Dear Valuable client.

    I would like to start off by thanking you for you business. If you ever need anything, just let me know.

    I would like to also thank you for trusting me to insure your car and making sure that if you have a car wreck that I will be there to help you and protect you.

    But I would like to do more then just protect your car in the event you have an auto accident and don’t come home from it. You already trust me to protect you automobile, but I want you to also trust me to protect your family from the same car wreck.

    For just $22.79 a month or $245.00 a year, I can give you $100,000 day one coverage that will increase at least $5,000 a year for 20 years. It will end up doubling to $200,000 in year 20. I hope that you will never need this coverage, and the great thing about this plan is that if you don’t need the coverage within 20 years, at the end of 20 years we will give you all of your money back.

    I hope that you will never need this extra protection, but if you do, I will be there to help protect your family from this wreck. I hope that you will never need this protection.

    Look at it this way, if you never use this coverage, you will get all of your money back.

    This coverage also covers all accidentally deaths.

    I also have a number of other plans and products that can also help protect your family.


    I'm just brain storming here. Take the guts of what I wrote and make it your own. I have a product just for these clients and at those prices. The product works from ages 18 to 60. Does not matter if it's male or female, smoker or non smoker and takes any health condition.

    Working your existing clients is a great idea. I have some other post on working your existing clients. Do a search for them.



    Mark Rosenthal
    [email protected]
    www.realfastservice.com
     
    Mark, Nov 8, 2008
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  5. 1manshow
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    Re: Making the most out of your client base....or wasting time?

    Mark, your posts are very helpful, I hope you continue.


    I also have a life/health gal that works my P & C book with very good results. No smoke and mirrors approaches, no direct mail. She's very successful at calling them and telling them she has reviewed their file and will need them to stop in as soon as possible. We have already trained them to stop in for everything else, so this is really no stretch. Of course they want to know if there is a problem. She simply tells them "it's nothing we can't take care of in 10 or 15 minutes with your help". She sets the appt. then and there. Her interview process is nothing unusual, but her closing ratio is very high based on her taking the "service" approach and then working into a "needs based" presentation.
     
  6. moonlightandmargaritas
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    moonlightandmargaritas Guru

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    Re: Making the most out of your client base....or wasting time?

    Interesting that you don't consider this a "smoke and mirrors" approach...
     
  7. 1manshow
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    1manshow Guru

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    Re: Making the most out of your client base....or wasting time?

    Is it smoke and mirrors to let them know they are missing out on additional discounts on their auto and home insurance because they don't have their life insurance with that carrier ? Or that we have not fulfilled our professional obligation to them by discussing their life insurance situation previously ? If that is smoke and mirrors, then I misspoke ! Many of our clients have been glad we brought the subject to the surface and for the ones who she does not close, she has free gifts and usually a $10 gas card for their taking time to stop down.
     
  8. Charpress
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    Re: Making the most out of your client base....or wasting time?

    Yes, I think I would be completely ticked off if I went to my P&C people because they led me to believe there was a problem and then it turned into a life insurance pitch. Maybe it is handled better than it sounds.
     
  9. 1manshow
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    Re: Making the most out of your client base....or wasting time?

    When the approach starts pissing people off, we'll stop using it. For the last 4 years, it has not. Actually, some of the clients end up purchasing life insurance on one of their children just to get the 5% discount on their auto and home insurance, many times it equals a free life insurance policy for them.
     
  10. Charpress
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    Re: Making the most out of your client base....or wasting time?

    Well, as I said, maybe it is handled better than it sounds. The further explanation makes it sound better.
     
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