By Brandie Hinen
On a recent business trip my team and I visited five states in 10 days, speaking to multiple insurance agencies of all sizes. Even in this challenging market we noticed some common traits of top performers in each place we visited. We also noticed some disappointing trends in young producers and veteran audiences alike.
One of my most powerful experiences as a young producer was learning the value of what we commonly call “x-dating” — which was really learning the value of NOT x-dating. In fact, our friends in EB and Life know this all too well. My hat is off to these producers — instead of clamoring for poll position 90 days before renewal, they consistently strive to just get in the door and find out if they and the buyer are compatible. All this craziness over x-dating is trifling to them. Hmm, are you Property-Casualty agents listening?
New producers are constantly asking me, “Brandie, what can we do to really set ourselves apart?” By the way, please don’t call and tell them you have a “special program!” I’ve instructed that line, and it only really works if it’s true and you can prove it through referrals and testimonials … yet I digress, more on that next month. What are you all finding in this market – 7, 8, 9 agents in there competing for the business? Yep, I thought so. We hear it a lot. Many producers’ voices are being drowned out by the competition. Trying to get heard reminds me of the final scene of Crocodile Dundee when Mick clambers over the heads and backs of busy New York City subway riders — like he did on the tops of crocs’ heads in his native Australia — bound to get to his “Sheila.” This is what trying to compete 90 days before renewal looks like.
How about this thought … if insurance is one of the most important financial decisions an organization makes, why would they really be compelled to make a drastic move from an existing relationship after only two visits, one of which is an “introduction” and the other a mad roller derby dash to the finish line?! Let’s make this personal. What if you were to looking for someone to come and stay in your home with your spouse and children while you were away on a business trip? What about hiring an au pair to watch your children and your possessions while the two of you went on vacation without cell service? To business owners and managers, insurance is a relative unknown, and an unpleasant one at that. Even in the event of a well-settled claim, we struggle with social stereotypes.
So, what’s the answer? Consider that good relationships, ones that require a person to be compelled to change, require time. See your pursuit as a marathon vs. a sprint and you will write more business than you could imagine. Visualize the relationship process like this:
The x-date is at the end, and your first introduction to the prospect is at the beginning. There are months, not weeks, in between. I always ask producers, “What is the worst time to be in front of the prospect, talking insurance for the first time?” The answer? 90 days before renewal — with every other desperate soul.
The best way to get in the door is to talk to someone when they are not under pressure and not thinking about posturing right before their renewal. Your goal here is to just get the appointment, get to know them as people, and find out if they are on your BEST CLIENT list.
Revenue Work
Ready for some revenue work? Here’s a prospecting script for getting your foot in the door and crafting the message around compatibility. Give it a try. Send me an e-mail, I’m looking forward to hearing your results.
About the Author
Brandie Hinen is president of P.A.C.E., Inc. & Maestro!, a company that specializes in professional coaching and business training to help firms move from DISCUSSION to ACTION!
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