Sometimes you’ll get lucky and stumble into someone who had a bad experience and your claims handling processes might offer clear advantages. Copyright © 2020 ALM Media Properties, LLC. For example, you can't obtain a non-resident license to sell property and casualty insurance if you are only authorized to sell life and health insurance in your home state. Really helpful tips. They also have no idea how many hours of continuing education you’re required to keep up with and some of the advanced designations have taken you years to achieve! Learn how to protect and safeguard sensitive information against cyber attacks with these 6 tips. Most salespeople mistakenly believe the product features and benefits most appealing to them will also appeal to our clients and this can lead to selling the WRONG value. What do computers, monkeys, and my 3 year old daughter all have in common? Property and casualty insurance agents help clients insure property, such as auto, home, and jewelry, against possible damage or legal liability, and they help them settle their claims. Can a home security system drive down the price of their policy? Email them a link to a website where they can earn it online. Explain to prospects that you regularly check their policy to make sure they’re getting every discount they deserve. Thank you!!! MetLife is pursuing a sale of its property/casualty auto and home insurance business, according to a report by analysts following the company Keefe, December 09, 2020. Often, clients may see insurance as a commodity, but it’s important for insurance professionals to really show the value behind their services. Use a specific example of how your process helped a previous client have a better experience. But I also know that selling on price alone will be the downfall of you, your agency, and the entire agency sale model. November 12, 2014 at 6:12 pm Selling insurance products can be rewarding and lucrative. Client can’t afford life insurance at the smoker rate? People love discounts, and when they see how well you understand discounts they’ll trust that you’re getting them all the discounts they’re entitled to and will see the value in buying through an agent like you. Our site will be unavailable for 3 hours starting on Friday, December 11th from 11:00pm and ending at 2:00am CT on Saturday, December 12th for maintenance. The mark of a real expert is the ability to explain a subject to anyone regardless of age, background, or education. There will always be another company with lower rates. Explain to prospects that agents are field underwriters who allow carriers to provide more accurate rates for every risk. Property & Casualty Insurance License – Car Insurance, Home Insurance, Business Insurance, etc… Life & Health Insurance License – Life Insurance, Annuities, Health Insurance, etc… Most insurance agents choose to get both of these licenses, but if you will only sell one type of policy then you just need to choose which license fits your needs. In New York, for example, you have to undergo a criminal background check, take an accredited licensing class and then pass the state insurance test. A call center employee can quote more people faster and cheaper than you. (Audible Audio Edition): Michael Bonilla, Oliver Hunt, Michael Bonilla: Audible Audiobooks Casualty Insurance Property Insurance Jobs Property and Casualty Insurance Agent jobs. Get insights from independent agents on what they’re looking for in their agent-carrier relationship so you can earn their business. Start selling more VALUE today, or we’ll all face the consequences tomorrow! Property and casualty (P&C) insurers are companies that provide coverage on assets, as well as liability insurance for accidents, injuries, and damage to others or their belongings. It’s at: I also know most of your sales happen because of saving people money. I promise they’ll thank you. How Digital Innovation is Reshaping the Insurance Industry. To find out what product values to focus on ask more questions. “If you don’t buy this life insurance policy you’ll save $25 a month… But what’s the potential cost of being diagnosed with cancer after making that decision? Leads are pre-set and pre-qualified - there is no cold-calling! It’s very rare that someone responds with, “It was the cheapest.” Instead, they’ll say, “It had the best crash test ratings” or “It’s is in a really great neighborhood with amazing schools” or “After all these years of working hard, I deserve a few nice things”. Your tips have really changed my mindset. the prospect owns ask them: “What made you choose that one?”. Skip to main content. I’m not talking about identifying new discounts or educating clients about discounts (I mentioned those both earlier). If you’ve been in insurance for a while, find ways to get this point across to every prospect. | #. Sign Up Today! That sounds wonderful, but money isn’t limitless and offer value for insurance that is at times $300.00 more than what the customer currently has isn’t selling value especially with in two months they can’t afford it. It’s hard to sell the value of your products and agency when you don’t know what’s most important to the client. Paperback, 9781977088543, 1977088546 We stress the importance of differentiating their business, especially through offering risk management services, so that clients don’t see them as just an insurance provider, but as a trusted advisor. Do you know another agent or producer that sells exclusively on price? Here’s an example: “What’s the second most important thing to you about insurance? November 7, 2012 at 10:58 am They can all sell insurance on price alone. BONUS TIP: try to get your clients a discount with the other service to deepen your value even more. Wow,I looked this, so glad I found this piece. In fact a lot of people assume buying through an agent is more expensive. Improve Agent-Carrier Relationships with Insights from Agents. A: A property and casualty insurance agent is a person who is responsible for selling insurance products like homeowners, automobile, boat, and motorcycle insurance. Prudential Financial has agreed to sell its national property and casualty insurance companies for $413 million of notes issued by Liberty Mutual. One way to do this is by identifying something that your prospect is very experienced in to make a comparison. 1,212 Property Casualty Work At Home jobs available on Indeed.com. In either case they’ll perceive that they’re paying extra for benefits they don’t value. All PropertyCasualty360.com news coverage, best practices, and in-depth analysis. I know that price is the primary driver of insurance sales. Many insurance products pay commissions to the agent for as long as the bill is being paid by the client. While thousands of agents enjoy success in insurance sales, many have difficulty meeting commission and income goals—and eventually transfer to other careers. Selling insurance products can be rewarding and lucrative. Elana Ashanti Jefferson Got it? Great article, John. Every state sets its own rules for insurance licensing. It’s probably already part of your quoting process to find out about the last insurance claim. To sell property and casualty insurance, you need to obtain a property/casualty license. I get it. Around the P&C insurance industry: December 9, 2020, 8 ways brokers can improve carrier, underwriter relationships. S&P: Only one company in insurance and financial services can say that nearly half of its executives are women. Be prepared to pay the application and licensing fees for each state to which you are applying. The National Association of Insurance Commissioners maintains information about each state's requirements; click on your target state on its Map of NAIC States & Jurisdictions to go directly to the insurance commission Web page in your state. Work from Home Licensed Insurance Agent -Property and Casualty Begin Your New Career Working at Sitel is more than a job - it’s a career full of growth and development opportunities, valuable connections and life-long skills and experiences. Don’t lecture; ask questions and engage. It’s your job to make them recognize and internalize the fact that they’re making a decision about more than just how large of a check they’re going to write every month. Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com. Not one of these tips takes more than a little conscious effort. | #. Great article! Posted in Customer Service, Sales. Nous concentrerons notre action sur [...] les produits d'assurance des emprunteurs ainsi que sur les produits d'assurance IARD, dont les assurances habitation [...] et automobile individuelles et collectives. Do they prefer to use the phone, send emails, meet face-to-face, online accounts, text messages? cibc-global.hk. When you find out what kind of car, home, motorcycle, etc. Now tell me you don’t care about anything but saving 15% off your car insurance. Remote part-time agents will be set up with a wireless headphone and dual monitors at their home office. Don’t be afraid to toot your own horn. “In our agency, we have over 30 years combined experience in insurance.”. by Michael Bonilla. How to Sell Property and Casualty Insurance  . Exclusive discounts on PropertyCasualty360, National Underwriter. Find every way possible to talk about claims – it’s the best way to get people thinking outside the price box. They can all sell insurance on price alone. P&C insurers cover a number of things, including auto insurance, home insurance, marine insurance, and professional liability insurance. Of course not, he believes it’s a better car and it’s worth the extra price. Have you re-lived it in your mind’s eye? September 16, 2015 at 3:49 pm When you identify discounts your prospect qualifies for, take time to explain how much money each discount saves, why they qualify, and why the carriers offer that discount. Agents with a large number of policies on the books benefit from a large amount of renewal income from existing clients. Make sure your prospect knows that you’ll be there to communicate with them in the way that fits their life. With these insurance licences, you can sell home, auto, and many other lines of insurance. I’m confident that local insurance agents will survive against threats like online direct writers and call centers but it will not happen unless you can sell value. Make sure your prospects know this. A professional insurance salesperson (like you) must be able to connect with prospects and help them understand and internalize the value of the insurance you’re selling. If you don’t believe your product is better than everyone else’s and worth the price either convince yourself otherwise or don’t expect long-term success. John F. Carroll is the founder and CEO of, agency website with online customer service, http://ianzaq.blogspot.my/2015/09/how-to-sell-insurance-on-value-instead.html?m=1, 29 Ideas to Cross-Sell More Insurance to Current Clients. The traditional way of doing business by scheduling face-to-face meetings has become difficult, and most would call those attempts irresponsible. cibc-global.hk. You can reference the combined experience of all your coworkers. What’s the worst car accident you’ve ever witnessed? Okay, so YOU know it’s not more expensive to have an agent but everyone else doesn’t. But even if they had a wonderful experience, forcing your prospect to mentally “re-live” the claim experience will pull them further from the “only price matters” mindset. I’ll assume price is number one…”. Symbiotic broker-carrier relationships can improve communication and provide more personalized service to clients. “If you don’t purchase higher coverage limits you’ll save $10 a month… But what’s the potential cost of becoming disabled in a major accident after making that decision? Compare how much money someone could save by not buying your insurance policy with the potential cost of not buying it. Of course this example is geared toward auto insurance, but you could adjust the concept for property, life, disability and just about any other type of insurance. Im in 2 months in this job now, and the frustrations im experiencing are slowly getting into me. Click here for the lowest price! If so, join thousands of agents who get exclusive Insurance Marketing Ideas and a FREE COPY of our eBook: 10 Actions to Boost Your Agency's Google Rankings Today. As a Customer Care Agent, you will be responsible for facilitating the sale of non-standard new business policies direct to consumers. Educational webcasts, resources from industry leaders, and informative newsletters. Property and casualty insurance licenses are two of the most basic licenses an insurance producer needs. These agents navigate clients through all the available property and casualty insurance products to help them decide the best way to protect their valuable assets. Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment, Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com. I know everyone wants to save money on insurance – me too. There’s a lot more room for fraud when people get insurance through a website and that makes the honest people pay more. I wouldn’t mind having more tips daily. A website can give millions of quotes per second even faster and cheaper. Send them a link to this article. The property-casualty business includes the insurance of personal property (cars, homes) and liability (personal or professional). The property damage can occur to your home, car, or even your personal belongings. Just find a way to work it into the conversation naturally. I mean actually helping them get discounts that they don’t currently qualify for. http://ianzaq.blogspot.my/2015/09/how-to-sell-insurance-on-value-instead.html?m=1 Most people have no idea how hard it is just to get licensed to sell insurance. Market Insights How P&C agents can sell life insurance from home During the COVID-19 pandemic, P&C agents and brokers can find alternative sources of income in the life insurance market. Starting off as a property and casualty insurance agent is a challenging a long process. | #. Excellent blog post, John! Ask a follow-up question like, “How did your claim experience go?”. September 16, 2015 at 4:34 pm Most people involved in the insurance and financial advisory business are working from home as directed by stay-at-home mandates across the U.S. Social distancing has become very real, as evidenced by almost no traffic on the streets of cities large and small. At ClearRisk, the majority of our customers are insurance brokers. 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