Most brokers know that one sales technique won’t work with every client or situation. You can be more successful when you have multiple options to draw from in talking with prospects – and turning them into clients. Being backed by the right team can make a difference, too.
Below are a few closing approaches you might consider, as well as information about the advantages available to you when you work with Word & Brown.
- Ask questions and share ideas
Ask questions when meeting with prospects, so you can find out what is important to them as an employer. Discuss their current insurance plan (if any) and any issues they have had. Be a storyteller for them, and share how you have helped others save on their employee benefits or reduce their workers’ out-of-pocket costs. Or, discuss the value-adds that you offer that they may not be getting with their current broker and carrier.
By creating a connection with your customers, you can show them how you are working for them – not for the carrier. You want them to understand your motivation to find the right balance: coverage they can afford that also helps protect their employees. This will establish trust, help eliminate their objections to buy, and move you closer to a sale.
- Sell the value
Talk with your customer about why the product you’re suggesting is the best option for his or her business and employees. If two carriers’ networks are similar, but one offers a lower premium, selling based on costs is okay. However, if the plan you’re recommending costs more, be sure to explain what makes it worthwhile. For example, while an HMO and EPO may offer similar rates, the EPO be a better match because a member can self-refer. (Of course, offering a multi-carrier exchange to your clients gives all of their employees the ability to select a health plan suited to their specific health care needs – and it also offers value-added benefits for employees and their employer.) Ask your clients if there are any specific doctors, specialists, or hospitals employees want to be able to access (or continue to use) if they move to a different health plan. If you work with Word & Brown, we’ll research providers for you to ensure clients have access to the ones they want when changing carriers.
- Take your time
Some brokers use a “now or never” close – which can work in some scenarios, but is usually less successful in an employee benefits sales situation. Unless there’s an already announced rate hike scheduled, urgency often will not work to push a customer toward closing. There’s likely another carrier the client could go with instead.
- Commit wisely, then over-deliver
If you have a group looking for immediate coverage, be careful not to over-commit until you know more about their need – and whether a carrier can meet their demands. Requirements vary, and some health plans may be negotiable while others are not. There are many steps – quoting, enrolling, underwriting, etc. – in the process. Some cannot be expedited. Have an open dialogue with your customers to ensure expectations are understood on both sides. Then work to over-deliver. Don’t forget the value-added benefits available through Word & Brown that will help you keep your customers coming back year after year.
Setting yourself apart
Having the right general agent backing you up can make a big difference in how much business you close – and retain. Word & Brown prides itself on our ability to relieve you of the administrative activities related to selling.
We have a full roster of professionals committed to your success. You can count on us for a full market portfolio, presentation assistance (alongside you or in your place), technology to help you succeed (including guaranteed-accurate quoting and integrated online enrollment), underwriting service level guarantees, ongoing training and education, an Account Management team and in-house Compliance pros to answer all of your questions, and much more.
Health Insurance Broker
2020 Salary Guide
For a sneak peek at what you can expect to earn as an insurance agent, get a copy of our “Insurance Broker Salary Guide.”