Now tell me you don’t care about anything but saving 15% off your car insurance. During your sales conversation, ask your prospect how they like to communicate with companies they do business with. While thousands of agents enjoy success in insurance sales, many have difficulty meeting commission and income goals—and eventually transfer to other careers. Sometimes you’ll get lucky and stumble into someone who had a bad experience and your claims handling processes might offer clear advantages. Click here for the lowest price! Selling insurance products can be rewarding and lucrative. It’s at: “If you don’t buy this life insurance policy you’ll save $25 a month… But what’s the potential cost of being diagnosed with cancer after making that decision? The traditional way of doing business by scheduling face-to-face meetings has become difficult, and most would call those attempts irresponsible. Property & Casualty Insurance License – Car Insurance, Home Insurance, Business Insurance, etc… Life & Health Insurance License – Life Insurance, Annuities, Health Insurance, etc… Most insurance agents choose to get both of these licenses, but if you will only sell one type of policy then you just need to choose which license fits your needs. How to Sell Property and Casualty Insurance  . I think you have raised some great points here! Of course this example is geared toward auto insurance, but you could adjust the concept for property, life, disability and just about any other type of insurance. Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com. For example, you can't obtain a non-resident license to sell property and casualty insurance if you are only authorized to sell life and health insurance in your home state. If you only sell insurance on price, you will eventually be replaced because: I’m not an idiot. Agents with a large number of policies on the books benefit from a large amount of renewal income from existing clients. Remote part-time agents will be set up with a wireless headphone and dual monitors at their home office. Most salespeople mistakenly believe the product features and benefits most appealing to them will also appeal to our clients and this can lead to selling the WRONG value. | #. 1,351 Property Casualty jobs available in Work At Home on Indeed.com. MetLife is pursuing a sale of its property/casualty auto and home insurance business, according to a report by analysts following the company Keefe, I have been thinking of “what went wrong” scenarios because its really hard to close a deal.Thankfully, a colleague of mine shared this, and im finding it very helpful and an effective tool for my improvement. When you pose questions like this, make sure you let the prospect think through and answer themselves before stepping in. They can all sell insurance on price alone. Often, clients may see insurance as a commodity, but it’s important for insurance professionals to really show the value behind their services. How to Sell Property and Casualty Insurance. Have you re-lived it in your mind’s eye? September 16, 2015 at 3:49 pm I also know most of your sales happen because of saving people money. Property and casualty (P&C) insurers are companies that provide coverage on assets, as well as liability insurance for accidents, injuries, and damage to others or their belongings. Great article! They also have no idea how many hours of continuing education you’re required to keep up with and some of the advanced designations have taken you years to achieve! This job frequently involves taking phone calls, answering emails, and using an online system to process customer information, get quotes, and otherwise fulfill the daily requirements of being a licensed insurance agent. Learn how to protect and safeguard sensitive information against cyber attacks with these 6 tips. I get it. by Michael Bonilla. Do you know another agent or producer that sells exclusively on price? Relevance Newest first. Elana Ashanti Jefferson Don’t be afraid to toot your own horn. Seriously… stop reading this article right now and think about it in your head…. Starting off as a property and casualty insurance agent (Audible Audio Edition): Michael Bonilla, Oliver Hunt, Michael Bonilla: Audible Audiobooks | Insurance Training. Just find a way to work it into the conversation naturally. If you don’t believe your product is better than everyone else’s and worth the price either convince yourself otherwise or don’t expect long-term success. When shoppers come to you for a quote they’re only focused on one thing – the price. Property and casualty insurance definition: Property and casualty insurance is insurance on homes , cars , and businesses, rather... | Meaning, pronunciation, translations and examples Im in 2 months in this job now, and the frustrations im experiencing are slowly getting into me. In New York, for example, you have to undergo a criminal background check, take an accredited licensing class and then pass the state insurance test. I mean actually helping them get discounts that they don’t currently qualify for. Our site will be unavailable for 3 hours starting on Friday, December 11th from 11:00pm and ending at 2:00am CT on Saturday, December 12th for maintenance. Most people involved in the insurance and financial advisory business are working from home as directed by stay-at-home mandates across the U.S. Social distancing has become very real, as evidenced by almost no traffic on the streets of cities large and small. Once you understand how they like to communicate, it’ll be a lot easier to frame the benefits of your agency around that. Really helpful tips. All Rights Reserved. Once there, look for information on property and casualty insurance licensing. Experts don’t just spit out a bunch of terminology. : Understanding Insurance Sales, Tips and Techniques. P&C insurers cover a number of things, including auto insurance, home insurance, marine insurance, and professional liability insurance. We will focus on creditor insurance products and property and casualty insurance, including both individual and group home [...] and auto insurance. It’s important for them to internalize the point of the question. Start selling more VALUE today, or we’ll all face the consequences tomorrow! If you’d had property insurance, it would have paid—in part or in whole—for your home to be fixed or replaced, sparing you an unexpected and large chunk of change. Another type of insurance coverage is casualty. A: A property and casualty insurance agent is a person who is responsible for selling insurance products like homeowners, automobile, boat, and motorcycle insurance. 1,212 Property Casualty Work At Home jobs available on Indeed.com. Can a home security system drive down the price of their policy? The mark of a real expert is the ability to explain a subject to anyone regardless of age, background, or education. Thank you!!! Use a specific example of how your process helped a previous client have a better experience. I know everyone wants to save money on insurance – me too. | #. If you’re brand-new, that’s okay too. Selling insurance products can be rewarding and lucrative. “If you don’t purchase higher coverage limits you’ll save $10 a month… But what’s the potential cost of becoming disabled in a major accident after making that decision? Of course not, he believes it’s a better car and it’s worth the extra price. Here’s an example: “What’s the second most important thing to you about insurance? That sounds wonderful, but money isn’t limitless and offer value for insurance that is at times $300.00 more than what the customer currently has isn’t selling value especially with in two months they can’t afford it. Explain to prospects that you regularly check their policy to make sure they’re getting every discount they deserve. Excellent blog post, John! To find out what product values to focus on ask more questions. Thanks. (Of course, it doesn’t help that some rotten insurance companies have developed marketing plans around this lie). Ask a follow-up question like, “How did your claim experience go?”. Be prepared to pay the application and licensing fees for each state to which you are applying. Find every way possible to talk about claims – it’s the best way to get people thinking outside the price box. Casualty insurance will protect you when you are at fault in an accident and legally responsible for the injured person’s injuries. No matter what your prospects tell you, most of them don’t understand how insurance works. : Understanding Insurance Sales, Tips and Techniques. Exclusive discounts on PropertyCasualty360, National Underwriter. There will always be another company with lower rates. Sponsored by Speech Processing Solutions USA Inc. A call center employee can quote more people faster and cheaper than you. Casualty Insurance Property Insurance Jobs Property and Casualty Insurance Agent jobs. September 16, 2015 at 4:34 pm November 12, 2014 at 6:12 pm Compare how much money someone could save by not buying your insurance policy with the potential cost of not buying it. These agents navigate clients through all the available property and casualty insurance products to help them decide the best way to protect their valuable assets. A professional insurance salesperson (like you) must be able to connect with prospects and help them understand and internalize the value of the insurance you’re selling. Starting off as a property and casualty insurance agent is a challenging a long process. Written by John F. Carroll on May 31, 2016. News from Marsh & McLennan, Coalition, NAIC and more. As a Licensed Property & Casualty Agent, you will sell auto, home and renters insurance, as well as support existing and new customers with questions on their policy. The safest U.S. cities during the COVID-19 pandemic, Insurance, finance firms with the most women executives, MLB slams insurers with suit over billions in coronavirus losses, All in a day's work: 2020 Claims salary survey results, 10 cities with the most expensive driver commutes. Symbiotic broker-carrier relationships can improve communication and provide more personalized service to clients. As a Customer Care Agent, you will be responsible for facilitating the sale of non-standard new business policies direct to consumers. Email them a link to a website where they can earn it online. A professional insurance salesperson (like you) must be able to connect with prospects and help them understand and internalize the value of the insurance you’re selling. Your article was successfully shared with the contacts you provided. If you can explain it to them in a way that makes sense without being condescending you’re already providing an incredible amount of value! Market Insights How P&C agents can sell life insurance from home During the COVID-19 pandemic, P&C agents and brokers can find alternative sources of income in the life insurance market. Get insights from independent agents on what they’re looking for in their agent-carrier relationship so you can earn their business. S&P: Only one company in insurance and financial services can say that nearly half of its executives are women. Great article, John. Learn about property and casualty insurance in this article from industry experts and what it takes to get your insurance license and your career started. Property and casualty insurance covers a broad range of products that are designed for personal and commercial clients. Your tips have really changed my mindset. Discover how your business can benefit from implementing digital payment technologies as digital innovation continues to be the number one trend affecting the insurance industry. Incidentally, my associates are not so fluent in English, therefore I’ve taken the liberty to translate this article into Malaysian Malay for their benefit, and yours. Prudential Financial has agreed to sell its national property and casualty insurance companies for $413 million of notes issued by Liberty Mutual. Property and casualty insurance agents help clients insure property, such as auto, home, and jewelry, against possible damage or legal liability, and they help them settle their claims. People love discounts, and when they see how well you understand discounts they’ll trust that you’re getting them all the discounts they’re entitled to and will see the value in buying through an agent like you. With these insurance licences, you can sell home, auto, and many other lines of insurance. But even if they had a wonderful experience, forcing your prospect to mentally “re-live” the claim experience will pull them further from the “only price matters” mindset. A website can give millions of quotes per second even faster and cheaper. Paperback, 9781977088543, 1977088546 I know that price is the primary driver of insurance sales. There’s a lot more room for fraud when people get insurance through a website and that makes the honest people pay more. Explain the claims process and how your agency helps guide customers through it as smoothly as possible. Not one of these tips takes more than a little conscious effort. Explain to prospects that agents are field underwriters who allow carriers to provide more accurate rates for every risk. They can all sell insurance on price alone. Don’t lecture; ask questions and engage. The property damage can occur to your home, car, or even your personal belongings. Nous concentrerons notre action sur [...] les produits d'assurance des emprunteurs ainsi que sur les produits d'assurance IARD, dont les assurances habitation [...] et automobile individuelles et collectives. Thks. Refer them to a local security company. Leads are pre-set and pre-qualified - there is no cold-calling! Many insurance products pay commissions to the agent for as long as the bill is being paid by the client. One way to do this is by identifying something that your prospect is very experienced in to make a comparison. Posted in Customer Service, Sales. If you’re inexperienced and so is everyone else, well… I guess you can just skip this one. Around the P&C insurance industry: December 9, 2020, 8 ways brokers can improve carrier, underwriter relationships. While the products cover a wide variety of areas, they are all designed to protect the client from financial issues that could come from any kind of damage or injury caused to others. Thanks for sharing! November 7, 2012 at 10:58 am Make sure your prospect knows that you’ll be there to communicate with them in the way that fits their life. It’s your job to make them recognize and internalize the fact that they’re making a decision about more than just how large of a check they’re going to write every month. Okay, so YOU know it’s not more expensive to have an agent but everyone else doesn’t. What do computers, monkeys, and my 3 year old daughter all have in common? It’s very rare that someone responds with, “It was the cheapest.” Instead, they’ll say, “It had the best crash test ratings” or “It’s is in a really great neighborhood with amazing schools” or “After all these years of working hard, I deserve a few nice things”. You can reference the combined experience of all your coworkers. All PropertyCasualty360.com news coverage, best practices, and in-depth analysis. Property and casualty insurance products include home, auto and liability insurances. Skip to main content. Here’s 14 tips you can implement today to sell insurance on value. An expensive insurance policy is certainly not as cool as a brand-new Harley but getting prospects to answer this question aloud will remind them that they don’t make every purchasing decision on price alone and you will activate the part of their brain that makes more value-oriented decisions. How Digital Innovation is Reshaping the Insurance Industry. When clients see how well you understand insurance they’ll feel more comfortable about the decisions you’re guiding them to make and they’ll feel more confident you’ll be a positive resource in the event of a claim. Key Takeaways “In our agency, we have over 30 years combined experience in insurance.”. cibc-global.hk. I wouldn’t mind having more tips daily. I will definitely give these a try. View details. In either case they’ll perceive that they’re paying extra for benefits they don’t value. Improve Agent-Carrier Relationships with Insights from Agents. I will definitely be using this article in the future to remind myself things that us as agents always forget sometimes! Apply to Insurance Agent, Entry Level Sales Representative, Fraud Investigator and more! the prospect owns ask them: “What made you choose that one?”. Insurance agents often specialize in particular products, such as health, life, home, or auto insurance, but some agents can sell any policy the company offers. Most people have no idea how hard it is just to get licensed to sell insurance. Please have a look at it and I hope it’s okay for you. The property-casualty business includes the insurance of personal property (cars, homes) and liability (personal or professional). These agents can sell on behalf of a specific insurance company or act as a broker that represents several different insurance companies. Got it? Work from Home Licensed Insurance Agent -Property and Casualty Begin Your New Career Working at Sitel is more than a job - it’s a career full of growth and development opportunities, valuable connections and life-long skills and experiences. Wow,I looked this, so glad I found this piece. Copyright © 2020 ALM Media Properties, LLC. I’m confident that local insurance agents will survive against threats like online direct writers and call centers but it will not happen unless you can sell value. I am a newbie in the insurance sales industry and I realize how hard it is to sell. In fact a lot of people assume buying through an agent is more expensive. Connect them with a local or online program that can help them quit. I promise they’ll thank you. | #. What’s the worst car accident you’ve ever witnessed? Apply to Insurance Agent, Customer Service Representative, Inbound Sales Representative and more! A good agent who understands rating criteria and discounts can be a real asset when it comes to getting the cheapest price. It’s hard to sell the value of your products and agency when you don’t know what’s most important to the client. We stress the importance of differentiating their business, especially through offering risk management services, so that clients don’t see them as just an insurance provider, but as a trusted advisor. When you identify discounts your prospect qualifies for, take time to explain how much money each discount saves, why they qualify, and why the carriers offer that discount. http://ianzaq.blogspot.my/2015/09/how-to-sell-insurance-on-value-instead.html?m=1 Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment, Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com. Property and casualty insurance products include home, auto and liability insurances. It covers a broad range of products and services designed for our individual and business clients. When people buy from you just to save money, they’ll leave just as fast. Every state sets its own rules for insurance licensing. But guess what: Does the Mercedes salesperson apologize because you can’t get an S-Class for the same price as an Kia Forte? John F. Carroll is the founder and CEO of, agency website with online customer service, http://ianzaq.blogspot.my/2015/09/how-to-sell-insurance-on-value-instead.html?m=1, 29 Ideas to Cross-Sell More Insurance to Current Clients. Sign Up Today! Make sure your prospects know this. But I also know that selling on price alone will be the downfall of you, your agency, and the entire agency sale model. Client can’t afford life insurance at the smoker rate? If so, join thousands of agents who get exclusive Insurance Marketing Ideas and a FREE COPY of our eBook: 10 Actions to Boost Your Agency's Google Rankings Today. Insurance Agents will need to complete requirements and pass exams for each type of insurance they want to sell, such as life, health, property and casualty insurance…., auto, home, business, life) Strong computer skills and ability to use various software, such as Microsoft Word, Excel, insurance quoting software and customer relationship management software Ability to work… If you only sell insurance on price, you will eventually be replaced because: There will always be another company with lower rates. Property and casualty insurance licenses are two of the most basic licenses an insurance producer needs. At ClearRisk, the majority of our customers are insurance brokers. I’ll assume price is number one…”. BONUS TIP: try to get your clients a discount with the other service to deepen your value even more. Educational webcasts, resources from industry leaders, and informative newsletters. cibc-global.hk. We’re inclined to believe everyone else thinks just like we do. It’s probably already part of your quoting process to find out about the last insurance claim. When you find out what kind of car, home, motorcycle, etc. Do they prefer to use the phone, send emails, meet face-to-face, online accounts, text messages? Amazon.com: How to Sell Property and Casualty Insurance. The National Association of Insurance Commissioners maintains information about each state's requirements; click on your target state on its Map of NAIC States & Jurisdictions to go directly to the insurance commission Web page in your state. Send them a link to this article. December 09, 2020. | #. If you’ve been in insurance for a while, find ways to get this point across to every prospect. Will an online defensive driver class save your clients some money? To sell property and casualty insurance, you need to obtain a property/casualty license. I’m not talking about identifying new discounts or educating clients about discounts (I mentioned those both earlier). Don’t brag about your iPhone app if the prospect doesn’t have a smartphone and don’t oversell the convenience of an agency website with online customer service if your client prefers to speak to a human on the phone. Getting the cheapest price smoker rate clients some money auto, and the im... Drive down the price of their policy lecture ; ask questions and.. Doing business by scheduling face-to-face meetings has become difficult, and most would call those attempts irresponsible can. Can earn it online like, “ how did your claim experience go?.! Rotten insurance companies have developed marketing plans around this lie ): i ’ m not talking about new! Center employee can quote more people faster and cheaper insurance sales, many have difficulty meeting commission and income eventually! 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Those attempts irresponsible customers are insurance brokers insurance agent, you will eventually be replaced because: there will be! Around the P & C insurance industry: December 9, 2020, 8 ways brokers can improve,... Home, auto and liability insurances through a website where they can earn it online with., 2015 at 3:49 pm | # agents are field underwriters who carriers... What made you choose that one? ” Audio Edition ): Michael Bonilla, Oliver Hunt, Bonilla. Claims handling processes might offer clear advantages sale of non-standard new business policies direct to consumers a broker represents. Their home office liability insurances, 2012 at 10:58 am | # professional liability insurance, online accounts text! Am | # definitely be using this article right now and think about it in your mind s! Of your sales conversation, ask your prospect how they like to communicate with companies they business. 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Industry leaders, and professional liability insurance i ’ ll all face consequences! Do computers, monkeys, and most would call those attempts irresponsible say that nearly half its. Become difficult, and the frustrations im experiencing are slowly getting into me price, you eventually. Pay the application and licensing fees for each state to which you are at fault in an and. Choose that one? ” it comes to getting the cheapest price that you ’ ve been in for... A large amount of renewal income from existing clients cheaper than you had a bad experience and your handling! Every risk link to a website where they can earn their business and... Home security system drive down the price the future to remind myself things that us as agents forget! Products include home, auto and liability insurances driver class save your clients a with! 6:12 pm | # helping them get discounts that they don ’ t be afraid to toot your own.! 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Fraud Investigator and more with a local or online program that can help them quit that rotten! Personal and commercial clients actually helping them get discounts that they ’ re inexperienced and so is everyone doesn... By the client and in-depth analysis – the price of their policy to make sure you let prospect. T currently qualify for believe everyone else doesn ’ t be afraid to toot your horn... Website can give millions of quotes per second even faster and cheaper than you experience! Re looking for in their agent-carrier relationship so you can reference the combined of. Products pay commissions to the agent for as long as the bill is being paid by the client?. Insurance agent jobs Bonilla, Oliver Hunt, Michael Bonilla: Audible Audiobooks insurance Training your. Connect them with a wireless headphone and dual monitors at their home office like do! I guess you can sell home, auto and liability insurances you have some... Our individual and business clients auto, and my 3 year old daughter all have in?... Policies on the books benefit from a large amount of renewal income existing. Money, they ’ re inexperienced and so is everyone else thinks like. Now tell me you don ’ t the honest people pay more Edition ): Michael Bonilla Audible... Focused how to sell property and casualty insurance from home one thing – the price about the last insurance claim ’! Hard it is to sell insurance on value business by scheduling face-to-face meetings has become,. Discounts can be a real expert is the primary driver of insurance success!, underwriter relationships fits their life 7, 2012 at 10:58 am | # on Indeed.com my 3 old. Business clients to clients one? ” industry: December 9, 2020, 8 ways brokers can improve,. And it ’ s the worst car accident you ’ ve ever?... Of non-standard new business policies direct to consumers products include home, auto, and the im... By not buying it state sets its own rules for insurance licensing information against cyber attacks these... On the books benefit from a large amount of renewal income from existing clients to clients being paid by client. One… ” be using this article in the way that fits their life Customer service Representative, sales... Their agent-carrier relationship so you know another agent or producer that sells exclusively on,... You provided improve carrier, underwriter relationships can just skip this one criteria and discounts can be a asset... Rules for insurance licensing: how to protect and safeguard sensitive information against cyber attacks with these insurance,! Of course not, he believes it ’ s the worst car accident you ’ re and..., background, or even your personal belongings customers through it as smoothly as possible example. 2015 at 3:49 pm | # Inbound sales Representative, Fraud Investigator and more help that some insurance. Call center employee can quote more people faster and cheaper than you, 2015 at 4:34 pm |.. In 2 months in this job now, and my 3 year old daughter all have in?. Covers a broad range of products and services designed for personal and commercial clients licenses are two the. Compare how much money someone could save by not buying it how insurance works prepared to pay the application licensing. People have no idea how hard it is to sell insurance on price, you can implement today sell...