HOW TO SELL INSURANCE BASED ON VALUE INSTEAD OF PRICE

Find out how to best sell insurance based on value instead of the dollar amount.

Almost anyone can sell insurance on price alone. However, when it comes to educating the public about the value of insurance, many agents struggle. A professional insurance salesperson must be able to connect with prospects and help them understand why insurance is so valuable. It helps to convince them to purchase higher than the state minimum limits. Even though many customers will look at the bottom dollar figure before agreeing to a policy, there are some easy ways to sell insurance based on value.

Talk about claims. When shoppers come to you for a quote, they’re only focused on one thing – the price. It’s your job to make them recognize the fact that they’re making a decision about more than just their outgoing monthly premium. Explain the claims process and how your agency helps guide customers through it as smoothly as possible. Find ways to talk about claims, as it’s the best way to get people thinking outside the price box.

Educate your prospects. No matter what your potential customers tell you, most of them don’t understand how insurance works. If you can explain it to them politely, you’re already providing an incredible amount of value. Clients like to work with professionals. Take the time to make them feel comfortable about their policy, defining terminology and industry-based terms.

Ask about communication preferences. During your sales conversation, ask your prospect how they like to communicate with companies. Once you understand whether they prefer emails, calls, face-to-face meetings, or text messages, you can frame the benefits of your agency around that. Make sure your prospect knows that you’ll be there to communicate with them in the way that fits their life.

Whether you’re a seasoned pro or just starting out in the industry, Advantage Partners Network is here to help. With top commissions, competitive carriers, profit sharing, and 100 percent agent ownership, we help your agency achieve greater success. Get started by joining Advantage Partners Network! For more information, give us a call today.

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What it means to be an Independent Insurance Agent

Insurance agents are employees that are agents that sell products to people. The products can be property insurance, casualty insurance, life insurance, healthcare insurance, disability insurance and casualty insurance. Other products they can sell are financial products. Insurance Agents are usually working for a company that provides them with the information and products. They only go back to one company and provide buyers for one company.

Independent insurance agents go back to a lot of companies or carries and sell what the company needs them to sell. At times they would be given a number of minimum clients that they to sell to. There are no newbies in independent insurance agents, like how normal insurance agents accept them. They need to be very professional and understand all the tasks, laws and any other objective that comes their way. Therefore, they may get more jobs at one might because all companies know that independent insurance agents are professionals and good at what they do. However, at times they do look for insurance medians that help them get more providers. This is one of the main differences between an independent insurance agent and an insurance agent.

Carriers

Unlike insurance agents, independent insurance agents work for you. They will make sure they keep in mind your best interest not the companies. This is what allows them to make more money at the end of the month. They are also given an option to represent more than one client at a time, meaning selling more than one objective at a time. This is a huge impact for them which will lead to a huge pay day as well. While insurance agents will just work for that company and nothing else, also their paycheck will always stay the same unless they got a raise. The main reason insurance agents become independent insurance agents is because of the reason mentioned above (carries) ; they believe they should thrive to their full potential and this will not happen in one company with the same pay rate for year. Thus, they leave the company and start their own independent business. If the agent does succeed, he or she will most likely be one of the world top independent agents and love their job!

Freedom of choice

Another important aspect of an independent insurance agent is the freedom that comes with it. These type of agents are not built on any company or must go have somewhere at the end of the day. They are built upon themselves to make the business path they have always wanted to thrive in. thus they can pick and choose what clients they want and what products they want to sell. No more taking products without actually thinking there a good deal. However, insurance agents must take any product that is thrown on them since that is there job. And some workers might actually hate their job at one point, therefore they could never succeed the way an independent agent does.

 

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High Net Worth Clients

The high net worth (HNW) insurance market is a lucrative and rapidly growing segment of the insurance industry. Although the percentage of HNW clients continues to grow, approximately 70 percent of HNW individuals have coverage in standard markets. They are often underinsured or have inadequate coverage with carriers who are not familiar with the affluent marketplace.  In today’s market, Celebrities, professional athletes and those who inherit trust funds are not the only clients who have a high net worth and require specific coverage. Generally, HNW clients have homes valued at $750,000 or above and a net worth of $5 million or more.

Becoming an expert in this area requires dedication and time. HNW coverage is not as simple as one phone conversation. Insurance agents who work with these clients must build and maintain relationships and networks. HNW clients should not be considered large personal lines accounts, because they are often complex and require regular and thorough reviews of exposures. HNW exposures may actually more closely resemble commercial exposures, as both may need to insure multiple locations, in-home employees and non-profit activities.

The HNW individual has many unique exposures that come with their lifestyle, and those exposures need to be protected. These exposures can come in many forms such as fine art collections, luxury and vacation homes, private aircraft, specialty automobiles, exotic sports cars, jewelry, and more. Also, increased wealth and assets increases your personal liability exposures. Annual risk assessments are imperative to secure details about net worth, assets, collections and new acquisitions. Brokers who work in this market should work with trusted specialty insurance carriers to tailor coverage in order to meet clients’ needs. Advantage Partners Network understands the specific needs of the high net worth client. We have relationships with premier insurance companies who serve this market, and we will work together with agents to offer a comprehensive insurance and risk management program.

 

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Easy Methods to Satisfy Your Customers

Does your agency network need some customer retention help?

Every agent understands that retention is necessary to build and maintain a successful insurance agency. Even small boosts in customer retention will grow long-term profit immensely, as well as improving your reputation. As many insurers realize, it costs more to get new customers than to keep the current ones. If you know the pain of losing more policies than you wrote in a week, it’s time to make some changes.

Your insurance agency network professionals at Advantage Partners Network reveal some of the top strategies in how to boost your customer retention!

Keep in Contact

Don’t harass your clients, but the more times they hear from you throughout the year, the less likely they are to shop around. The key to constant contact through the year is to show that their dollar is valuable. If they are paying a certain amount each month, they want to know (and be reminded!) that they have a professional looking out for them. Whether you send emails, newsletters, surveys, handwritten letters or make phone calls, choose to stay in communication with your clients.

Set Up Automatic Payments

People these days lead busy lives and don’t have time to sit down every month and pay the bills – this is where automatic payments come in handy. When you’re onboarding a new client, offer them an option of autopay and explain why it is so useful. Clients who do set up automatic payments renew their policies at a much higher rate than those who write a check every month; it’s just too convenient to stay and too inconvenient to leave.

Improve Your Customer Service

Focusing too much on the retention strategies when your customer service is lacking is putting the cart before the horse. Choose to ask your clients for feedback about your agency and services so that you can see where your faults lie and where to improve. This will not only strengthen your business as whole, but it’ll allow you to improve your habits to make lasting sales.

Advantage Partners Network is designed to aid your business to achieve greater success. From retention strategies to employee training, we help you to get your business going. Get started by joining us today!! For more information, give us a call.

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How Social Media Impacts B2B

Social media can be a great tool for your network insurance agency in Florida.

With the rise of technology, people of people are taking their business online. Gone are the days of self-advertising in newspapers and handing out flyers – social media is the way forward for any network insurance agency in Florida and across America. Upholding a digital presence allows your business to connect with real people in more areas, increasing your client range!

If you’re looking to grow your business to business (B2B) marketing, check out the following ways in which social media can impact your success.

Your website is your base.
Before you engage in social media, you should have a company website that is completely up to date with the latest requirements. This means that your web pages should be mobile friendly. Smartphones and Mobiles are everywhere, and people are using them more often. If your website takes minutes to load or comes up as the standard Desktop View on a mobile screen, you’re not likely to impress guests.

Get your business blogging.
Having a blog is very helpful, but not necessary if you’re limited for time. Blogging allows you to provide useful information to your clients and other businesses. Through this, you drive more traffic to your blog, therefore website, allowing you to collect more business.

Stay consistent.
There’s little point creating a LinkedIn, Facebook, and Twitter profile if your business is never going to use it. You should consistently engage with your audience, posting relevant and appropriate information. Twitter hosts a broad range of users and is more business-friendly than Facebook, which tends to be a casual, personal platform. When you post on either of these platforms, always link back to your website so that users can easily access your business.

As an independent insurance agent, do you need help finding the right resources to reach greater success? Contact the network insurance agency in Florida, serving the nation’s insurance agents with the tools that they need to reach new heights!

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How to Start Your Agency Right With These Tips

Ready to open your insurance agency? Use these tips to start off on the right foot.

For entrepreneurs, even beginners, getting into a new business venture is a complicated process. Due to this, you need to start with the basics and work your way up from there. To get your insurance agency going on the right foot, check out the following tips.

Educate yourself about common failures

You’re likely already aware of how often start-ups fail early on…but do you know why? Educate yourself about how to avoid common mistakes, pitfalls, and bad choices before getting started.

Head online

Business owners can benefit from blogging, interacting with clients on social media, and sending compelling emails. Aim to perfect your online marketing process by using these three facets.

Recognize your employees

Whether you have office staff, contract workers, freelancers, and remote employees, it’s important to treat them well from Day 1 and recognize their hard work when credit is due.

Start small

When coming up with a new business idea, you don’t need to reinvent the wheel. Sometimes, you just need to make one change on a great idea that is already familiar to people to succeed.

Learn how to market

There are countless different ways that you can market your business. Whether you want to release content weekly or opt for Facebook ads – or both! – work with a team that knows which tried and true methods work.

As an independent insurance agent network, Advantage Partners Network work with you, the insurance agency, to achieve greater success through community-based marketing, training, tools, and more. Contact us to get started today!

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How to Modernize Your Insurance Agency Brand

Use these tips for modernizing your insurance agency brand.

Any business owner these days will understand that it must keep up to date with trends, customer wants and needs, and technology to remain successful. When the dawn of the Internet arrived, it changed the way that people and businesses interact and market. While this was applicable for most markets, the insurance agency industry was held back by the steady expectations of traditional insurance customers. Now that the digital age is coming in fast with thanks to marketing, Millennial consumers, and more, it’s time to modernize your insurance agency brand.

Read on for tips on how to meet the needs of the modern consumer:

Live chat

When it comes to the complex nature of insurance, there may come a time where the consumer has a question about their policy, service, or quote. Live chat online allows the customer to receive instant contact with an agent who can assist them, but it’s a much preferable mode of communication that allows the consumer to get on with their day instead of sitting on hold for half an hour.

SMS chat

SMS chat puts correspondence of pressing issues at the tip of the customer’s fingers, allowing them to deal with insurance matters while tending to other tasks throughout the day. In the age where every minute counts, it pays to have this service available for busy individuals.

Online account management

Customers want access to the profiles when and where they need it. It’s imperative, especially for the young people of today, to allow customers to self-serve their needs. When a client is out and about, having all of their data viewable from their mobile device is effective to retain satisfied feedback.

Personal help

Even though people want more mobile options and digital device data, they still want to work with people, not computers. For many consumers, it takes a professional to understand the ins and outs of their policy, let alone the insurance industry. Live chat and mobile messaging at any time of the day can provide help to the customer in their hour of need.

Part of being a successful insurance business today is embracing technology and using it to your advantage. As an independent insurance agent, do you need help finding the right resources to reach greater success? Contact the network insurance agency, Advantage Partners Network, serving the nation’s insurance agents with the tools that they need to reach new heights!

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How Best to Welcome New Insurance Clients

Easy tips to welcome new insurance clients into your agency.

You aren’t done making a good impression after your prospects sign on the dotted line. In fact, now is the time when you need to step up your game. Now that they’ve purchased a policy, it’s time to make them feel like they’re part of the family. After all, you want to show them that they’ve bought something of value. The best way to do this is to welcome new insurance clients!

Detail the policy. Start with the basics. Include full copies of the policies they purchased. If you want to make an even bigger impression, consider printing them out on high-quality paper. Outline the policy and go into detail about the ins and outs. Include a few documents that explain other policies you offer than can protect your client.

Provide contact information. You want to make your agency easily accessible and welcoming. Your phone number and email address should be front and center. No client likes to feel like their agent doesn’t want to receive a call from them. Next to individual contact details, list biographical information, including how long you and your colleagues have worked in the industry. This both makes you seem more human and establishes credibility.

List FAQs. Does your agency get the same questions over and over again? Include a FAQ list that covers the most common issues that your client encounters so that you don’t need to repeat the answer.

Review the claims process information. Once a client has bought insurance, ensure that he or she knows how to file a claim in the event of an incident. The world of insurance can daunt individuals, so it’s best to review this process with them before an accident occurs. Include fundamental information about how a claim is processed to alleviate some of that confusion and anxiety.

To help boost your business, join us! Join the insurance agency network, Advantage Partners Network to become part of the team of top-tier insurance professionals for resources, training, and support for building your business.

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There Are Three Types of Customers – Here’s How to Handle Them

Is your insurance agency ready to handle these types of customers?

In the insurance world, you get to know a lot of different types of customers. When you start off in the industry, you may even be led to believe that no two personalities are the same. Once you become established, you’ll learn that there are various types of customers, but there are three that you commonly interact with. So that you know how to work with these people and sell them the correct policy, read on.

The Negotiator

It doesn’t matter of he or she seems calm, quiet, or loud – negotiators always want a bargain. If you’re dealing with them, know that a common objection is to bargain your price based on a cheaper competitor’s offer. If you have room for negotiation, go on as long as you don’t harm your selling principles. Some will seek to beat you down, no matter how good the deal is. Don’t get lured into any discussions and justify your reasoning calmly. Stay confident and point out the good quality and performance of the product.

The Minimalist

There will always be customers in the insurance industry that want the bare minimum coverage. Whether it’s because they must have it by law (for example, auto or home insurance), or because they feel the coverage will help, they’re looking for a bare-bones policy. Take the opportunity to describe the importance of protection and how buying more coverage or raising the limits can ultimately help in the long run. Justify spending a few extra dollars a month with a higher level of protection.

The Indecisive

There are the customers who aren’t sure what they want. They’ll give you short, indecisive answers and you may have trouble gauging what it is they want or need. To convince them, they’re going to need some handholding. Learn more about them, their situation, assets, and finances to guide them towards the right policy. Be sure to explain this choice thoroughly and answer any questions they may have.

Bear in mind that many people will be a combination of these customer types. However, understanding each type and how to best approach them will help you to attract the right coverage and close more sales.

With the right tools and guidance from Advantage Partners Network, your insurance agency can take off. A professional hand in pointing agents in the right direction allows your business to perfect procedures and maneuver around obstacles. Contact us today to get started.

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Join an Independent Insurance Agent Network to Improve Communications

Your independent insurance agent network can help your team to create a relationship that lasts.

When it comes to engaging with clients, insurers are at something of a disadvantage. Unlike retailers, insurance companies have traditionally been limited to their interactions with customers. This often takes the form of a renewal notice, a bill in the post, or emails. As a result, many customers rarely think about their insurance provider until their latest statement arrives or an incident occurs. An independent insurance agent network helps agencies to maintain good relationships with clients – an essential part of an insurance agent.

You can build a sophisticated customer engagement engine by following these tips.

Data validation – Your agency will have a lot of data, from customer demographics, addresses, assets, and financial statuses. Data is going to build the foundation for your new customer engagement strategy. Finding data software that can perform data cleansing, validation, and reduce duplication is critical to maintaining an organized system. What’s more, it ensures that your communications reach those who need it successfully.

Analytical information – To progress as a business, you need to know what works and what doesn’t. By analyzing data, insurers can identify patterns and trends that support product development, segmentation, and campaigns. Furthermore, the data can be used to determine opportunities with policyholders by personalizing communications.

Relatable relationships – Staying relevant and present is crucial to keeping customers engaged. By engaging customers with individual messages that are relevant to their needs and situations, insurers can create a relationship that lasts and guarantee more revenue in the future.

By joining an insurance network, you get the resources, materials, and advice that your agency needs to thrive. Advantage Partners Network is designed to aid your business, including improving communications, relationships, and thus, revenue. Get started by joining us today! For more information, give us a call.

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