P&C Sales Tips?

[Love2Golf12]

I apologize for how long this is, but I really need some help here.

I'm new to P&C, an Allstate LSP, and I'm really struggling. I just got licensed in early Sept and just started on the phones in early Oct. I should have $5k in premium for the month. Everyone at my agency tells me that I just need to stick with it, quote more, call more, and I will build my book. I am comparing myself to how other the other LSPs here did their first month and I'm way off. They were averaging from $10k to $17k their first month on the phones. The agency as a whole does a little over $100k a month in premium, so there are plenty of leads coming in.

I came from being indy with life and it has been a big adjustment for me. There is no closing line with P&C. I'm constantly chasing people, no one-call closings. I was not amazing at selling Final Expense, but it was more personal, more emotional, and I could toss in stories, build rapport, and use some decent closing lines to hook them in. I felt comfortable with that. I assumed incorrectly that P&C were easy sales, then I'd cross sale life. I'm having to give up my life leads to the financial specialists and P&C is all about the numbers. I can't build rapport with my customers. I've found that I have to save them at least $150/year on their auto or they aren't going to bother with me. I've had a real hard time connecting with folks. It's just quote and chase, quote and chase..all day long. It doesn't even feel like sales.

I'm getting about 8 live transfers per day. I'm doing about 7-10 quotes per day, mostly auto and renters. I wish I got more homeowners or landlord leads, but I don't. I'm making around 25-35 outgoing dials per day, chasing my leads that I've already quoted, calling old junk leads, etc. I'm selling 2-3 policies per week. I love taking the live leads and absolutely hate taking the inbound calls for fear that it's customer service crap that I'm going to get chewed out for by an insane customer even though the policy was written 9 years ago.

I compare my numbers to all the other LSPs at my agency and the only difference is the new business. I'm just not closing. I'm one of the top for taking the live calls and making quotes. I'm just not getting it done. Almost all sales tips I see on this site, on youtube, and online are for life agents...or for P&C guys trying to cross sell life.

What tips can you give for someone in P&C trying to sell auto or Homeowners policies? My quoting is solid, but even when I'm beating their current price by $30/mo they come up with an excuse to not immediately buy and I have to chase them for weeks. I greatly appreciate any advice or links that you could send me to for some suggestions on how to start closing a higher percentage of my quotes. LSPs at my agency are averaging around 150 - 175 quotes a month and selling 50-60 pieces of new business. I'm doing about 35 quotes a week and 3 pieces of new business. So, obviously I'm doing something very wrong.

 

[djs]

Its not always about saving money, its about getting better value. $30 a month isn't much to many people, not worth the hassle and they don't fully believe it. Now, if you said $350-$400 a year, it sounds like a lot more, even though its the same thing.

There are a lot of things that go into making someone switch their P&C insurance, sometimes you'll never know why they really switch, other times it is pretty obvious. When they call in, simply ask, why are you looking for quotes now? That will be KEY to tying it back to your closing later.

What you'll find is people don't call just to save money, something else happened. Suddenly the bill shot up because of the renewal finally caught their speeding ticket or they put their son on the policy or they bought a new car or they had a relative have a bad experience or they just had a bad claims experience. Find out why they called. In the end, sell it based on this.

Inbound calls are usually not 1 call closes. Yeah, some do this, but if they are calling you, they are probably calling around. In P&C, its hard to talk people out of this and of course, if your rates aren't the best and you used the 'save you $30 a month' line, someone else used the 'save you $400 a year' line and got the policy.

Make sure you sell what you have:
- Sell local
- Sell community
- Sell coverages
- Sell expertise
- Sell claims handling
- Sell personal service
- Don't sell price, this takes care of itself. Its a huge factor, but its not the only factor as long as you are in the ballpark with everyone else.

You need a few good stories. If you don't have them, borrow them from someone.

Dan

 

[shawnmwalker]

Dan Nailed it!

I think Agents often undersell Claims. I love and agent who was once an adjuster and how can really sell this bullet point. "When you have a claim I will be on the roof with your adjuster."

 

[insurance1822]

Where in PA are you located? I started as an LSP in an Allstate office & here's what I can tell you (and please don't take this as bashing your current position.) If you want to be successful as a captive Allstate producer you will be doing highly monotonous, repetitive prospecting..quoting & following up. You will be working internet leads that ONLY care about price & will be getting quotes from tons of other companies. The key is being the 1st person they speak to. Talk to your agent about the lead management programs that Allstate offers that will synch w/ your lead sources to instantaneously notify you when the lead comes in so you can call. Get them a price instantly & quote all available discounts. Set an expectation up front that switching is easy, typically no down-payment is required & you cancel their previous insurance for them.

When you ask who they're currently with ALWAYS instantly react as if "OHHH...yeahh....they always raise rates" and kinda chuckle. Internet shopper brain's work different & will react to these "cues." If they say their company raised their rate for no reason..say "yeeep that's what they do...it's ridiculous!" If they say "I had an accident & it wasn't my fault & they raised my rate" say "yeeep we get that ALL the time from (insert their company here) and play off their idiocy.

This is a very transactional position because these agencies HAVE to quote high volumes to write business. I don't know how you measure success...but I measure it by money. I was paid $15,000/year salary, full commission & 30% of the renewals & maxed out around 75k/year. To succeed at your position you will need to become efficient at quoting people FAST, expressing savings in annual terms, emailing & mailing them constantly until the close the deal. If you haven't closed them after 6-7 touches...follow up in 3-6 months.

Toot the big name & accuse other companies of offering introductory rates & create doubt in their minds about other companies. I firmly believe internet leads are very stupid people who are easily convinced. Play off their stupid fears that other companies will raise their rates & you cant trust them...but ALLSTATE is GOOD. You'd be surprised at how stupid these price shoppers are. Your job is to sell Allstate Insurance & as much of it a possible. If you want to respect your clients...get referrals & really do right by people...go Indy.

Understand you're selling one of the worst homeowner's policies on the market & a family will eventually be financially crippled because of it. You need to be an output machine & again..it's tireless monotonous & repetitive. Some of these sales tactics are cut throat, but it's necessary to be a closing machine in your position. Once you're quoting new prospects every day & following up like a machine it will start closing. I was good for 40-60 new policies per month while I was young & stupid working at that filthy slime scum trash company.

It's always good to build referrals, but you won't be able to close enough to keep them. To summarize:

1.) For internet leads stealthfully & passively create doubt in their mind about their incumbent carrier & any potential competition no-matter what carrier they are. Most of these price internet shoppers are a unique breed of human that will eat up whatever you feed them. Fortunately for you (and unfortunately for them) they will associate Allstate's name w/ "good."

2.) Ask why they're shopping insurance & use that against them later on. Explain that "Allstate" doesn't do introductory rates or any other "scams" like other companies.

3.) Understand the internet shopper is your public enemy #1...hate them...hate everything about them.

4.) Relentlessly re-email & mail your quotes & call them mornings/evenings until they tell you to go to hell.

5.) Understand you're a soul-less robot who's job is to pump out as many quotes as you can before you break & become obsolete.

6.) Understand your agency owner is a good person who's been enslaved by a brutal dictator.

Good Luck

 

[EugeneM]

If your quoting homeowners and Auto - Networking your friends is an easy way to supplement what you are doing. Post on that facebook!

Pass some cards out. You probably have 50-100 friends that have homes and cars etc... ask for referrals on every sale.

 

[briko3]

See if there is an e-surance call center near you and go get a job for a few months. Make 12-14/hour and bonuses based on how many policies you sell. You could probably make $70,000/ year if you were good....$40,000 if you're not.

The point is that they work call transfers all day. I'm sure you'd learn how to close, etc. on the first call.