If you already sell mortgages or provide advice on investments, you may feel confident that you have optimised your sales process as much as possible. However, making a small change like how and when you pitch GI to your customers could make a big difference.
Perfecting your pitch
The easiest change you can make to really boost your GI sales is to introduce it earlier into your sales process. By introducing the topic of insurance at the start of your conversation, your customer is aware of the requirements from the offset and will be more inclined to place their insurance through you.
You could start with something like “Adequate home insurance is a requirement of mortgage lenders and it is part of my duty of care, to ensure you are fully protected, should the worst happen so as the process I’ll also be providing you with a home insurance quote.”
Through practice, you’ll find the best strategy to introduce the conversation to your customer. Once you’ve developed the confidence to promote GI to every customer, you’ll reap the rewards.
Set expectations
Another vital step in successfully cross-selling GI to your mortgage customers is setting expectations. If you walk your customer through each stage of the process, they’ll feel more confident that you are the right person to be protecting their most valuable asset – their home.
- Inform your customer of the service you’re providing.
- Explain how you’ll do it.
- Educate them on the importance of the right cover.
Make it personal
We should strive to build rapport with the people around us in our day-to-day lives and our working relationships are no different. Once we understand that we’re all different and we all converse and behave in different ways, we can more easily communicate with those around us and in particular, with our customers.
Have an open conversation and ask varied questions about their insurance needs to gather the information you need to complete an illustration. Provide your customer with the results and clarify your understanding of their circumstances to demonstrate your commitment to providing them with the right policy for them.
If you’re not used to selling General Insurance (GI) it may seem like a hurdle, but Source can help you make it a seamless part of your business offering. My team is on hand to help you maximise your opportunities through training and support. And with our commission for life guarantee, you’ll continue to earn an income even if you retire or leave the industry..
Source have also made a little change, which we think will make a big difference to you.
One of the most difficult questions to answer during an insurance application is “what’s the year of build?” Very few people will know this off the top of their heads and it can be a lengthy and arduous process to find an accurate date.
To help you overcome this hurdle, we’ve added auto-populated property data into our quote journey. Now after entering a client’s address the property data will automatically be completed for you. While it might be a small change to our interface it’s should make a big difference when it comes to quoting – making it smoother and quicker.
Make sure to visit our website www.thesource.co.uk to learn more about our latest update and to access our wider range of training material.
Lee Denton is associate sales director at Source Insurance