The New Year is here and with it comes a brand new list of goals to achieve. If you’re aiming to earn more builders risk revenue than ever before, we can help!
You’ll feel more confident staring down those 2020 revenue goals when you start strong with these five resolutions:
- Brush Up on Builders Risk
Want to head into client meetings with the correct answers to every question? Delivering this kind of value to clients can set you apart from the competition as a knowledgeable and trustworthy insurance counselor, one they want to help protect their valuable construction projects.
To start off: get the 101. And once you’ve read through it, determine where your builders risk blind spots might be. US Assure has free builders risk FAQs about commercial new construction, residential new construction, remodeling and installation. Want more best practices to help you sell to personal lines clients? Try this and this. Want to learn how to avoid claim problems that can occur during policy issuance? We can help with that, too.
But what if you have questions that aren’t covered in our resources? Sign up for an online webinar session to ask a product expert. Or if you’re craving more face-to-face interaction, sign up to join us for a free lunch-and-learn in your area.
- Develop Your Elevator Pitch
Do you have a quick pitch ready to explain what you offer to potential clients? These 20 to 30-second pitches are a great way to share the value you deliver to potential clients in a digestible way. So when you’re putting one together from scratch, focus first on what’s in it for your client and what makes you unique as a professional. Keep it short and sweet, and use active words that explain what you do.
To help you get started, here’s a short version of US Assure’s elevator pitch:
US Assure distributes, underwrites and services construction and property insurance products across the U.S. for “A” rated carriers — and we’ve done so for more than 40 years. Our expertise lies in builders risk coverage, insured by Zurich, which provides protection from physical loss and damage that occurs during building, remodeling or installation. We offer quick product access, provide online policy issuance and expect no minimum volume commitment to get started – all while putting our customers at the center of everything we do.
- Learn More Selling Techniques
Comfortable with your go-to techniques but curious about other possibilities? Try asking for the sale, or using the yes set pattern, the “something for nothing” close, or the “lost sale” technique.
You could try validating their feelings and situation with labels to help determine where they stand (e.g. “It seems like ____ is important to you,” “It seems like you’re reluctant to ____”). Or, ask calibrated questions, such as: “What’s the core issue here?” “What is the biggest challenge you face?” “What does doing nothing cost you?”
With the numerous sales techniques out there, having the right one in your arsenal for just the right prospective client could make all the difference.
- Consult Experts
Whether you’re just starting out in builders risk insurance, or you’re a pro, there’s always going to be someone in the field with a little more experience than you. And, that’s a good thing! Even within your own organization, talk with more experienced agents. Pick their brains for what works and what doesn’t. Reach out to professionals who work in a line of business with which you’re less familiar. There are often lessons to be learned about your own line of business from those conversations, as well as opportunities to expand in the future.
If you’re looking for expert insight that directly applies to your business, check out best practices resources like Builders Risk Game Plan: 7 Tactics to Sell to Personal Lines Clients and How to Grow Your Business through Existing Client Relationships.
Want even more insight? Look in non-insurance related places, such as “Never Split the Difference: Negotiating As If Your Life Depended On It,” which discusses negotiation tactics that can be helpful in a sales environment.
- Practice with Your Team
By this point, you should be feeling pretty confident in your builders risk expertise, elevator pitch, sales techniques and absorbed some expert insights. But before you head into your next client meeting, set up some practice sessions with your coworkers to apply these lessons.
Here’s an exercise to get you started:
- Make a list of common objections you hear from potential clients
- Write each one down on a small sheet of paper, fold, and place into a bowl or hat.
- Choose someone to play the agent and someone to play the prospect.
- The “prospect” will draw a piece of paper from the hat and adopt the objection written, while the “agent” finds a way to make the sale.
- After running through the objection, have staff provide feedback and start from the top.
- After at least two passes with the objection, select new participants to role play and draw a new objection.
Ready to hit the ground running with your 2020 sales? Head confidently into your next prospect meeting with a consumer-facing sell sheet that can be customized with your logo and contact information.
This is intended as a general description of certain types of insurance and services available to qualified customers. Your policy is the contract that specifically and fully describes your coverage. The description of the policy provisions gives a broad overview of coverages and does not revise or amend the policy.
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