4 Insurance Sales Musts: Starting Strong in 2024

Fran Majidi November 19, 2024
how to start strong in new year with insurance sales

You probably have a few things in mind that you need to do to get the most out of your time selling insurance policies. Some of your new year resolutions may be pretty grand, too, and require a major effort. One word of warning when setting out to put your plan to practice: Don’t make a change just to make a change. If something is working just fine, don’t touch it. Your successes should not be negotiable, no matter your reasons. Change the things that are not working only. Tweak the things that aren’t working optimally. And follow the next four steps to make 2024 a most profitable year full of happy, shiny clients.

1. Skip the Unnecessary Meetings

If you calculate all the hours you spent in meetings and weigh it against how much you actually got done in those meetings, you’ll be horrified. This is a really bad habit people form in agencies, while excusing the wasted hours as “relationship building.” Talking about your favorite sports teams’ players for over an hour is not relationship-building, it’s time-wasting. After-hours drinks were made for these sorts of conversations. We’re not suggesting that you not have any fun in the office, but there are a time and place for everything. When you can, opt for a series of reply-all emails, instead of meetings, to move forward with important tasks. This year, try to cut your meeting times in half and you’ll see that you’re getting more done and probably selling more policies.

2. Focus on Cross-Selling

Whether you’re adding collision, comprehensive or roadside assistance to liability-only policies or bundling home with your existing auto policies, make it a point to wisely use all the time you’ve gained after cutting unnecessary meetings. Contact each of your clients to sell as many policies as possible (without being pushy or obnoxious). Umbrella insurance is a product that is widely undersold. If you know your client has substantial personal assets or business assets that need to be protected, explain how an umbrella policy makes sense for them to buy. Use examples of how it’s saved your other clients headaches and expenses.

If you have commercial clients, explain how cyber insurance is becoming a necessity, especially if they sell products online. Getting hacked is becoming more and more common and may end up being a costly nightmare if sensitive data is compromised.

Also, focus on your auto clients in order to convince them to switch homeowners carriers. Many people think they are locked in with their current policy, which may have even been assigned to them when they first bought their house. Chances are that you can help your clients save if they bundle their homeowners with their auto policy.

3. You Do You

Don’t copy your competitors. Analyze their successes to inform your own unique strategy but don’t try to ape other agents. We’ll tell you why. Everyone is different. What works for you will not work exactly the same way for another agent. The same is true for an agency. One business plan will not fit every agency because we are all different. You will want to focus on the groups you appeal to already. Start there and build upon that reach. Basically, copying your own successes is usually the best way to grow.

Also, don’t be too self-conscious of how you are “supposed to act” with clients either. You don’t need to put on a stiff insurance-salesman facade. Feel them out and tailor your approach to fit each one. With some people, you can be very casual and talk as if you were chatting up a friend. With others, you’ll need to be very professional to set their minds at ease about your seriousness. You’ll know which way to shift based on who you’re dealing with, as long as you keep your feelers on alert.

4. Buy Leads

Don’t just buy any leads, make it a point to find room in your budget to buy enough to see results. You will not close every prospective, and your success ratio will not be very different from what it is with leads you generate on your own. Keeping a realistic projection of sales in mind will prevent you from getting frustrated, even angry. A few questions you should ask before you sign up with a lead service are this:

  • Does the lead provider provide business development specialists who will work with you to create a customizable plan that will succeed?
  • Is there a short or long-term contract?
  • Does the company offer shared leads, exclusive leads, data leads and live transfer calls?
  • Does the company have a lead return policy?
  • Are there any special promotions that may benefit you?

After you find out the answers to these questions, begin researching the companies you’re considering working with. Read reviews from other agents. While some negative reviews should be taken with a grain of salt, positive reviews from agents representing top insurance companies will give you an idea of what to expect.

Whether or not a company has dedicated account managers, who will guide you through the process of making their leads work for you, should factor in heavily when deciding who you will work with. It’s equally important to be flexible about what they suggest based on their experience with other agents.

Make sure your lead provider has been around for several years. There are many lead companies around nowadays but the quality of leads is not the same across the board. You can see which company works for you through trial and error, or just visit here for the best.