Misconceptions About Selling Insurance
A forum discussion took place on what has surprised agents and brokers the most about their careers in the insurance industry. Responses to the question ranged from advice from wizened industry experts to reflections on where to focus your efforts and where not to waste time.
The first thing agents commented on was how much information people will willingly dole out to a complete stranger. But not too much information! For example, one poster noted, "I remember one of my first presentations, I was doing a fact finder and timidly asked the lady how much money she had in savings and she gave me hell. Needless to say I have found easier ways to ask for information that I need." Another agent noted that the more grief they give you over giving you the information, the less likely they are to buy.
Not all surprises were quite as lighthearted. One agent shared an anecdote about how he went to bat and pulled lots of strings in order to get an employer premium case reinstated for a client who had a dependent with cancer and lapsed coverage. The agent was successful in getting the coverage reinstated and getting the claims paid. Then, within six months, he lost the case to another agent for a lower premium. He wrote, " My eyes were opened to the fact that people, at least for the large part, are not loyal to you. And mostly are motivated by price-greed."
Read on for more.
- Small businesses big winner with reinstatement of Health Reimbursement Arrangements
- Insuretech startups Hippo, Lemonade on the attack against agents who sell homeowners coverage in California
- 4 industry trends to watch for in 2017
- Shopping up, enrollment channels shift for Medicare Part D as more consumers rely on brokers
- Why companies can’t get marketing right
- Optimism rebounding among independent P&C agencies; leads to aggressive growth plans in 2017
- Lessons from the U.K.’s bold new retirement initiatives
- Annual review of client needs only makes sense