Top Ten Tips for a Successful Sales Career in General Insurance

A successful sales career in general insurance requires you to communicate effectively with customers, understand the products you are selling, and provide excellent customer service. If you are new to the general insurance industry or looking forward to improving your existing skills, the below-given tips can help you succeed and make a rewarding career. So let’s dive in and explore the key strategies and practices that can help you achieve your goals as a general insurance sales professional.

Tip 1: Know Your Products

You must thoroughly understand the products you are selling and the general insurance industry as a whole. This includes understanding different types of policies, their features and benefits, and how they compare to other options available in the market. You should be aware of the current trends and regulations in the general insurance spectrum. The general insurance industry usually sells health, motor, travel, home, cyber, and commercial insurance. It is important to thoroughly know each product to help your customer efficiently.

Tip 2: Develop Effective Communication Skills

Strong communication skills are critical in general insurance sales. You must be able to explain complex insurance concepts in easy-to-understand language. You should also listen actively to the customers, and respond to their questions/ concerns with empathy. Below are a few ways in which you can develop strong communication skills as a general insurance salesperson:

1. Listen Actively: To tailor your approach and build a good rapport, you must actively listen to your client’s concerns and needs.
2. Practice Empathy: Try putting yourself in their shoes to understand their perspective better.
3. Use Precise Language: It is important to use clear, simple language that everyone can understand. Using industry jargon or technical terms may confuse your clients.
4. Be Confident and Enthusiastic: Confidence and enthusiasm are contagious. If you believe in the product you're selling, portray it in your tone of voice and body language.
5. Keep it Concise: Avoid rambling or going off-topic during conversations. Instead, keep your message concise and to the point.
6. Follow Up: Follow up with potential clients and thank them for their time and address any questions or concerns they may have. This shows you're invested in their needs and committed to building long-term relationships.

Tip 3: Build a Strong Network

Networking is essential to any sales career, and general insurance sales are no exception. To build a strong network, you must attend industry events, join professional associations, and seek opportunities to meet and connect with others in your field. Building a strong reputation for yourself is essential to build trust and credibility with clients. Given below are a few tips for building a strong network in the general insurance industry:

1. Attend Industry Events: The best way to meet clients and industry professionals is to attend training, conferences, or trade shows.
2. Potentially Use Social Media: Social media platforms such as Facebook, and LinkedIn can be a good option for connecting with potential clients and industry contacts. Ensure to regularly share relevant content and engage with your network to build strong relationships.
3. Attend Community Events: Participate in community events or local business meets, can help connect with potential clients in your field and build relationships with other professionals.
4. Follow Up with Contacts: Follow up with your new contacts to acknowledge their time and keep the conversation going. This can help you stay top-of-mind and build long-term relationships.

Tip 4: Focus on Customer Service

Focusing on customer service and building strong relationships with clients is important to a successful sales career in general insurance. This involves taking their time to understand their needs and concerns, providing personalised solutions that meet their requirements, and following up regularly to ensure their satisfaction. Below are ways in which you can practise effective customer service:

1. Build Relationships: Know your clients thoroughly and build strong connections with them. This can make space for trust and loyalty, leading to repeat business and referrals.
2. Provide Clear Information: Ensure your clients understand the general insurance policies they purchase, including any exclusions or limitations.
3. Respond Promptly: It is essential to be responsive to your client’s needs and inquiries or requests promptly. This can help in portraying your commitment to providing excellent customer service.
4. Offer Personalised Solutions: You must understand your client’s unique needs and offer solutions that fulfill those needs. This will build trust and demonstrate your expertise.
5. Continuously improve: You must regularly seek client feedback and improve your customer service processes and offerings.

Tip 5: Be Proactive

Being proactive is one of the essential characteristics a general insurance salesperson must have. A weary salesperson might discourage clients from buying anything. Be enthusiastic about selling your product and convince your clients to buy from your company. Use the following tips to be proactive:

1. Research Potential Clients: Before scheduling your meeting with them, you must thoroughly research potential clients. This will help you enhance your approach and demonstrate your knowledge of their requirements and challenges.
2. Reach Out to Potential Clients: You must proactively introduce yourself to your clients, offer your services, and schedule a meeting.
3. Offer Ongoing Support: Don’t just sell your policy and walk away. Offer ongoing support, such as regular check-ins and updates on your client’s insurance policy. This will help in showing your commitment to their needs.
4. Identify Cross-selling Opportunities: Ensure to offer your existing clients additional insurance products or services. This will help in increasing revenue and building stronger relationships.
5. Constantly Improve: Seek client feedback to improve your processes and offerings continuously. This will help you stay ahead of the curve and prove your commitment to providing a good service.

Tip 6: Be Persistent

This is possibly the most important trait of a competent insurance agent. Those who operate in this industry must be able to accept rejection with a smile regularly throughout their careers. Good insurance salespeople know that each rejection merely moves them closer to a "yes" response. You can stay persistent as a general insurance agent by:

1. Setting Goals: You must set specific goals for yourself, such as the number of new clients you must acquire each month. Having concrete goals can motivate you to persist through challenges.
2. Stay Organised: Track your leads and follow-ups in a system that works for you. Staying organised will ensure that you don’t miss any opportunities to follow up and close a sale.
3. Address Objections: You must not let client objections harm you. Instead, address their concerns and offer solutions that address their needs.
4. Provide Value: Portray your expertise and provide your clients with informative content like newsletters or blogs.

Tip 7: Don't Start with the Expense

While meeting with a customer, it is your primary responsibility as a general insurance agent to inform them about it. Assist them in determining the kind of coverage they require to have adequate coverage. As a result, instead of starting a conversation with a client about price, do so by explaining how you can assist them in creating a reliable insurance plan.

Tip 8: Stay Up to Date with Industry Trends

Staying updated with the industry trends is important for salespersons in the general insurance industry. There might be comparable products available on the market for less money, which can prevent sales. The insurance industry is highly competitive, and other policies can offer comparable advantages. The competition must be known to the agents. Your product's unique selling proposition (USP) or additional benefits over rival products must be emphasised. Here are a few ways to stay updated with industry trends as a general insurance salesperson:

1. Read Industry Publications: You must subscribe to industry publications, such as trade magazines or online newsletters, to stay updated on industry news, trends, and best practices.
2. Follow Thought Leaders: You must follow thought leaders and industry experts on social media through their blogs to stay updated on the latest trends and insights.
3. Join Industry Associations: You can join industry associations to build a network with other professionals and stay informed about the developments in the general insurance industry.
4. Participate in Professional Development Opportunities: Take advantage of professional development opportunities, such as webinars or online courses, to stay current on industry trends and best practices.

Tip 9: Embrace Technology

Technology is increasingly playing a significant role in the general insurance industry. It has become essential to stay updated on the latest tools and platforms. This includes using customer relationship management (CRM) software to manage client relationships. It also includes leveraging social media to expand the network and exploring new digital marketing strategies to reach clients. For example, Bajaj Allianz General Insurance offers access to its digital platforms to run an end-to-end business on the go. You can access our digital enablers (B Care Bot & Query Tracker) for instant solutions to your queries.

Tip 10: Partner with the Right General Insurance Company

Partnering with the right general insurance company, such as Bajaj Allianz GIC, is key to an insurance agent’s road to success. An established insurance company will allow the agent to sell a variety of products, earn commissions and provide options for personal and career growth. The instant brand recognition and goodwill that comes with a reputed company can help you establish trust with a potential customer, which is the cornerstone of any mutually beneficial long-term relationship.

The Bottom Line

To have a successful career in general insurance does not limit to a single way, but the tips mentioned above are essential to provide a positive sales experience to your customers. Portraying that you are enthusiastic, have thorough knowledge, and are determined to make a difference, can help you through your progress.   *Standard T&C apply Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.   Written by: Aditya Sharma, Chief Distribution Officer – Retail Sales, Bajaj Allianz General Insurance