Description:

Your sales pitch is key to closing the deal. Here’s how to make a perfect pitch that’ll get your future clients begging to sign.

How To Make A Perfect Insurance Sales Pitch

In insurance, making sales is the difference between success and failure. An agent who can’t get signatures on dotted lines won’t last long in the business.

But getting people to take the plunge and buy into what you’re offering is easier said than done. So in this article, we’ll go over every step you need to take to make a perfect sales pitch.

1. Explain the Process

Most agents don’t realize how clueless people are about insurance. So start your sales pitch by explaining the process of getting insurance and how it works.

For example, explain what types of coverage they can get, how long it takes to get it, and how much it costs. Walking people through the process helps clear up any confusion and makes them more comfortable investing in the product you’re selling.

2. Research the Prospect

Before giving a sales pitch that resonates, you need to know who you’re talking to. So research your prospect’s industry and any potential challenges they’re facing.

The more you know about who you’re selling to, the easier it is to tailor your pitch to their unique situation and make it more compelling. You can start your research with their LinkedIn profiles and the lead form(s) they completed.

For example, if you know the prospect is a small business owner, you can highlight how insurance can reduce risk and help them protect their employees and profits.

Speaking of which…

3. Personalize Your Presentation

Nothing turns people off like a generic presentation used on hundreds of prospects. You need to personalize your presentation to their specific needs and pain points.

List out the benefits they’ll get from buying insurance, such as peace of mind or cost savings. Then, explain how your insurance policy can help them reach their goals, be more secure, or reduce their financial risk.

If they’re a real estate investor, for example, you can explain how your coverage can help them protect their investments. Or, if they’re a tech startup, you can highlight the features of your policy that can protect their intellectual property.

4. Keep Control of the Conversation

Effective sales depend on controlling the conversation. This doesn’t mean dominating the prospect but steering the conversation toward the sale.

Ask questions and give them time to answer, but keep the conversation focused on their needs. Avoid long tangents or getting off-topic.

For example, imagine the prospect says, “I’m not sure if I need insurance.” You can respond by saying, “That makes sense. What type of risks do you think you need to be protected against?

By doing this, you’ve steered the conversation toward discussing their risks—which is a step closer to making the sale.

5. Overcome Objections Effectively

At some point during the pitch, the prospect will likely come up with an objection or counterargument. Your success depends on anticipating these objections and having solutions ready.

Don’t take objections personally or get defensive. Instead, address them directly and provide convincing answers. Depending on the situation, you may even need to adjust the pitch so that it connects better with the prospect’s needs and concerns.

For example, if they express concerns about the cost of coverage, you can explain how the financial protections outweigh any costs associated with the policy.

6. Ask Without Interrogating

Too many salespeople believe the more they talk, the better. But while asking questions is an integral part of the sales process, you need to keep the prospect from feeling like they’re being interrogated.

So don’t bombard your prospects with questions or show off your knowledge about the product. Instead, ask open-ended questions so the prospect can answer with more than just “yes” or “no.”

At the same time, avoid leading questions that only require a single-word answer. Keep the conversation social and relaxed—you want the prospect to be comfortable and open up to you during the sales process.

7. Show Empathy but Not Pity

It’s essential to show genuine empathy toward the prospect. After all, people don’t like to feel like they’re being sold to, and connecting with the prospect authentically makes make them feel like you understand their needs and challenges.

But be careful not to come across as too sympathetic, or worse, like you’re pitying them. 

Showing too much empathy can make the prospect feel like you’re just trying to get them to buy something. It’s a fine line, but if you’re sincere, it can make all the difference.

8. Remain Confident

Confidence is an essential ingredient in any successful sales pitch. It demonstrates that you believe in what you’re selling and that the prospect can make a sound decision by investing in your product.

The best way to remain confident is to have a deep knowledge of the product and the insurance industry. Also, practice giving your pitch out loud several times so you’re comfortable with what you’re saying and don’t get caught off guard.

Lastly, avoid hedge words like “maybe” and “I’m not sure.” People won’t trust you if you sound uncertain.

9. Create Scarcity

Creating a sense of urgency and scarcity can work wonders. Tell the prospect why they need to decide soon, such as the limited-time discounts they’ll get or the increased risk they face by waiting.

For example, you can tell the prospect, “The cost of insurance is rising, so it’s essential to get coverage immediately to lock in the lowest rate.”

But be careful not to create too much pressure. You want the prospect to feel comfortable making a decision—not rushed.

10. Educate, Don’t Sell

The most successful salespeople don’t think of themselves as salespeople. Instead, they view themselves as educators helping the prospect make an informed decision.

So don’t be afraid to offer advice on the best course of action for the prospect, even if that means they don’t buy your product. Show them the value of insurance—not just the features of your product.

Also:

• Describe things in simple terms
• Feature charts and illustrations
• Highlighting the benefits of various options

Remember, your goal is to build a relationship with the prospect. That’s much easier to do when they view you as an advisor looking out for their best interests.

11. Stay On-Brand

You’ve worked hard to build your brand and establish a positive reputation in the industry.; don’t throw it away by failing to live up to your standards.

When pitching, ensure you’re staying true to your brand values. For example, if you’ve positioned your company as the leader in customer service, don’t forget to emphasize that throughout the sales process.

Better yet, you can use your brand as a compelling selling point. Show the prospect how your company’s values and culture make you the best choice for their insurance needs.

12. Provide a Roadmap

As you get closer to the end of the sales process, it’s crucial to provide the prospect with a clear roadmap of what to expect. Describe the steps they need to take to finalize the purchase, such as signing documents or deciding on specific coverage options

You should also explain any restrictions or other requirements they must be aware of. This will help ensure the purchase goes smoothly and that the prospect isn’t surprised by anything at the end.

13. Keep Your Promises

Nothing erodes customer loyalty faster than broken promises. If you tell the prospect that something will happen on a specific day, ensure that it happens—otherwise, you risk damaging your reputation and losing their trust

For example, if you promise to send over the paperwork within 24 hours, don’t wait any longer. And if you’re unable to fulfill a promise, let the customer know right away

Nothing skyrockets repeat sales like honesty, and nothing destroys them more certainly than deception.

14. Follow Up

Insurance sales isn’t a one-and-done process. After the sale’s complete, it’s essential to follow up with the customer and ensure they got what they needed and that they’re satisfied with their purchase.

It’s also important to keep in touch after the sale is made. Send the customer periodic updates on their coverage and remind them of renewal dates, discounts, and other incentives to stay with you.

What if You Don’t Land the Sale?

No matter how well you prepare, some prospects aren’t ready to purchase. So don’t take it as a personal rejection. Instead, take it as an opportunity to learn.

Find out why they decided not to buy. Did you fail to build enough trust? Did they not understand the coverage options? Did you rush them through the process?

By understanding the reasons behind their decision, you can improve your sales process for the next prospect. After all, failure is the best teacher.

Mistakes to Avoid During the Sales Process

The right sales pitch takes a lot of work, so mistakes can happen. Here’s what you might notice—and how you can fix it:

Information Overload

Overloading the client with information can be detrimental to a sale. When giving a prospect a sales pitch, focus on the most critical points and avoid using too much jargon and technical language.

Offer diagrams and visual aids to help explain complex concepts And, above all, be direct. Don’t be afraid to ask the client to decide and close the sale.

Overusing Buzzwords

Don’t sound like a robot reciting a script.

Stick to industry-specific language, but don’t rely on buzzwords to carry the sale. Instead, describe the product’s features and the value it brings to the customer in a language they can understand.

Being Too Generic

Don’t make the mistake of using a generic pitch for every customer. Each prospect is different, and they want to feel like you’re taking the time to understand their unique needs and concerns.

Ask questions to get to know the prospect and tailor your pitch to fit their needs. For example, if the customer is looking for a lower-cost option, display products within that range—don’t try to upsell them.

Not Leveraging Visuals

Using visuals to illustrate the features of your product or explain complex concepts can be highly effective in the sales process.

Don’t just show slides—get creative. Use infographics, videos, or interactive tools to help the prospect understand how your product works.

Focus on telling a story with visuals rather than just presenting them. When you can do that, you’ve created an emotional connection with the prospect that can lead to a sale.

Playing Too Hard to Get

If the prospect expresses interest in your product, don’t play hard to get. Instead, be responsive and ensure the customer can reach someone easily if they have any questions or concerns.

Playing hard to get doesn’t create scarcity—it just annoys your prospects.

Wrapping Up

Getting a customer to buy insurance is never a sure bet. But by following these 14 tips, you can massively tip the odds in your favor.

Prepare for the sales process by gathering the necessary information and researching the customer. Then, show your expertise by understanding the customer’s needs, delivering a solid pitch, and staying on-brand.

Finally, don’t forget to follow up and keep your promises. Doing this will create loyalty and a positive reputation lasting long after the sale.

If you’re still hungry for more insurance insight, sign up for InsuranceBob—our comprehensive sales course. You’ll learn how to crush your sales targets and make easy upsells out of your best products.