Last month I was running a course for Tack International with a group of commercial insurance brokers from a range of companies from London and South East of England . http://www.tack.co.uk/
The delegates' businesses covered commercial insurance ranging from specialising in Property & Landlord sector, the motor bike sector to more traditional brokers. Some had been selling commercial insurance for 20 and 30 years other for just a few months which made for a lively and productive two days.
They were a stretching and lively group to work with.
The insurance marketplace is tough at the moment both on those with books on the 'renewals side' and for those developing new business.
Our Course Objectives included
·
To reveal the results of recent research into
client preferences
·
To introduce insurance brokers to the research based
PRO-PAYBACK® sales process and how to apply it
·
To discuss effective techniques for those
aspects of selling which present the biggest challenges to most insurance salespeople –
answering objections, strategies for unseating an incumbent competitor and winning client commitment (or ‘closing’)
·
To enable sales professionals to appraise
themselves and plan to develop personal action plans to achieve and exceed their sales targets
The "New Business" team in deep thought & discussion in the Spey Room at the Mint Hotel, John Islip Street, Westminster, London www.minthotel.com
( Alexandr Orlov on lookout duty- Commercial Insurance is 'Simples'?!)
Sessions covered
·
Assessing
your own selling style and adapt it to suit your clients
·
Apply
the latest research into clients’ likes and dislikes when dealing with
insurance salespeople
·
Apply
a proven sales structure and process during every future sales scenario
·
Plan
your calls professionally
Ricky and scribe captain Mark set about their task for the 'renewals team'
·
Sell
by setting clear objectives
·
Research
and target the right prospects and customers to generate the best results
·
Gain
and retain your customers’ attention
·
Ask
value driven questions to fully understand your customers’ needs
New Business team 'brainstormed' and generated a set of drill down questions- one or two 'killer questions' came out of their work and were eagerly transferred to the group's personal development action plans.
·
Apply
the concept of ‘YOU Appeal®’ ensuring the customer is your focus at
all times during the sales process
·
Motivate
customers by applying TACK’s Offer Analysis© technique
·
Respond
to and manage objections confidently and professionally
·
Deploy
key strategies for winning business and gaining customer commitment
·
Close
every sales conversation on a positive objective
·
Keep
developing your client relationships for long term and profitable business
Ashley talks through his team's offer analysis
One of the key sessions of the programme is examining Influencing Skills. The teams worked hard on responding to some stretching tasks listing:
- ways that you can be clear and direct in the challenges with /for your clients.
- how your behaviour styles can be applied to influencing situations
- approaches thatyou can make an impact and motivate clients
- actions that you can build up a ‘reserve of trust’ with a client
- steps that will progress the client to accept your ideas
Insurance messages must be clear. With both technically sophisticated and regulated financial services the challenge of effective and clear communication is ever present.
Yet selling commercial insurance is not solely about commitment but also about the interaction and interpersonal relationships between broker and client and broker and supplier( e.g. Banks, Insurance Houses etc)
Our offer needs to be communicated with impact and be persuasive but in a conversational and business like manner
Essentially the most important aspect in selling insurance is about the Trust. Building up a bank of trust is crucial on-going task for the professional insurance broker
Getting the balance of persistence rather than 'nagging' a client is key.
In addition to working a practical sales process PRO-PAYBACK we also worked on practical aspects of communication skills in client meetings and other interactions such as trade shows, exhibitions, networking events and seminars in skills such as listening , questioning and non-verbal communication.
Chris, Phil and Ashley preparing for the Personal Space Exercise and Body language - note the measuring tape on the floor
Benn and Ryan check their 'fight or flight tells'
Selling Skills for Insurance Brokers
Interpersonal Styles
http://www.internationallearning.com/
Well documented! I love the way that you take to work. At each meeting, I wonder if I use all methods of sales to close the deal. Anyway, I tried your methods and it is rather effective.
ReplyDeleteI am glad they have helped you in your business.
DeleteI am not sure I should claim them as my methods as Isaac Newton the great Scientist is supposed to have have said, we stand on the shoulders of those before us.
In Selling you and I stand on the shoulders of Alfred TACK and of course Dale Carnegie
Good Selling