We have been on a journey for over a year to educate both agents and buyers of insurance about the most effective way to secure insurance and risk management services. It appears our work may be paying off. We are seeing more and more articles related to the buying and selling insurance that include titles like:
- “Educate Your Clients”
- “Discover Solutions”
- “Quality Relationships Matter”
- “Buyers Value Partnerships”
- “Sales People Can’t Wing It”
These are all good articles that directly relate to what we have been saying over the past twelve months. We have reviewed a number of these articles and picked out some of the best points for agents and insurance buyers to consider. These include:
- See your buyer’s needs through their perspective. This involves active listening on the agent’s part. Agents should talk less, and listen 80% of the time.
- Deliver your buyer a solution — not a product. Solutions are meant to address the client’s real needs, not sell an insurance product.
- Focus on what’s important to the client. Determine what their true needs are.
- Focusing only on your insurance product will cause you to miss what buyer’s value from you.
If insurance buyers demand these procedures of their agents, and agents practiced these guidelines, insurance coverage would be better designed, and overall cost of risk would be lower for businesses. Insurers would be happy because losses would be reduced, and businesses would be matched with the right insurer.
Sources: Jay Mitchell, Dive Inside the Mind of Your Buyer — and Discover a Solution to Serve Them. 2.28.17, Clayton Christensen, The 4 Disciplines of Execution, Deb Calvert, Research Reveals What Buyers Value…It’s Not What You Think, 3.2.17.