why they're not buying insurance

Why They’re Not

Buying Insurance

Overcoming common objections

in the sales process

© 2013 QQ Solutions, Inc. All rights reserved.

QQSolutions.com | 800.940.6600

Customers have different reasons for buying – or not

buying – insurance. If you’ve worked in the insurance

industry long enough, you’ve likely heard it all. Some

prospects may say they can’t afford it. Others may say

that it’s not something they need right now.

In order to turn an objection into a sale, you have to

be prepared for what they might say … and how you

will respond.

Reasons Why They Don’t Buy



In a fluctuating economy, it’s difficult for some prospects

to commit to another monthly payment. How do you

respond to a prospect who says that they don’t have the

money in their budget?

Help them understand that – in the long-run – it will cost

them more not to have insurance. Prepare statistics and

figures about how much an emergency could cost without

insurance, and talk them through those numbers during

your sales pitch.

Reason No. 1: No Room

in the Budget



When a certain type of insurance, like car insurance, is mandatory by law, it’s easy to explain to prospects why they need it.

For insurance that’s optional, consider preparing a list of questions to ask prospects that will help you identify what types of coverage they really need, even if they don’t know it yet.

Based on their answers, provide them with real-life scenarios of when and why they might need insurance.

Reason No. 2: No Need

for Insurance



The more you can educate prospects about your product, with specific examples that are relevant to them, the more likely they’ll be to invest in it.

Tell prospects about the benefits of your product, but avoid:

• Insurance jargon.

• Making generic recommendations.

• Using “fluffy” language. (Example: “We’re the best choice.” But why are you superior to your competitors?)

• Being overly pushy. If you’re rushing to close the deal, prospects will feel as though you’ve missed the mark.

Reason No 3: Lack

of Knowledge



By utilizing an agency management system, such as QQ Catalyst, you’ll have access to prospects’ X-dates on existing policies with other insurance providers. You can use this information to find new leads and then contact them.

Before you reach out, prepare:

• A list of the key differentiators that set your agency apart from your competitor (i.e. their current insurance provider).

- These could include: price, benefits, customer service, years of experience, types of coverages available, flexibility of terms.

Reason No. 4: Relationship

With Another Agency



http://www.qqsolutions.com/solutions/agencymanagement/qqcatalyst/

If you’ve already gotten over the first hurdle of turning a lead into a customer, the next challenge becomes maintaining and growing the account. Using the cross-selling report available in Catalyst, you can find opportunities to sell existing clients into other insurance lines.

A common objection you may hear when trying to cross-sell is that clients don’t have the additional money to spend.

In this case:

• Look for additional discounts that might apply to the customer, based on the information you already know about them.

• Check to see if your agency offers discounted rates to customers who invest in multiple insurance lines.

Cross-Selling to

Existing Customers



http://www.qqsolutions.com/blog/index.php/cross-selling-for-insurance-agencies/

The greatest difference between a customer and a prospect is that one understands the product and why it’s valuable and the other doesn’t … yet.

Do your part to educate prospects by:

1. Asking the right questions,

2. Listening to their answers,

3. Educating them on the benefits,

4. Making coverage recommendations based on all of the above.

If you tailor your recommended coverages to their needs, you’ll be much more likely to have a sales pitch that ends in a signature versus a shutdown.

Closing the Deal



About QQ Solutions

QQ Solutions is one of the largest providers of insurance agency

management systems nationwide.

- More than 4,600 insurance agency customers

- More than 22,000 users

- 25 years in business

Our mission is to help independent insurance agencies compete in the

digital world, by leveraging Web technology, social media, Internet

marketing and real-time services.



http://www.qqsolutions.com/about/

Take Your Agency From

Good to Great!QQ Solutions develops agency management systems and

other automation solutions that do the heavy-lifting for you –

letting you focus on helping your clients and growing your

business.

• QQ Catalyst – The latest in agency management systems,

Catalyst is an innovative game changer that everyone in your

office will love to use.

• QQ WebRater – Get real-time auto insurance rates, fast and easy.



http://www.qqsolutions.com/solutions/agencymanagement/qqcatalyst/

http://www.qqsolutions.com/solutions/comparativerating/qqwebrater/

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