Stop Fearing Insurance Rates: Do You Dread Talking About Insurance Rates?
We’re up to our third video this week about price, and we find that a lot of times, we put off having a conversation about price and rate. That’s because in our head, we worked ourselves up so much about what the client’s going to say, how they’re going to react, and what we’re going to do.
“The last thing I wanna say to you about the dread is ask yourself, are these feelings or facts? Do you know, swearing on a stack of Bibles, how this client’s gonna respond? Absolutely not. So your worry is borrowing a problem from the future.“
Do you dread talking about insurance rates? If you do, you’re definitely not alone. But you shouldn’t and you don’t have to. Here’s why:
When we put off the call, the client calls us
When we dread talking about insurance rates and we put off our calls, then our client calls us. This is 100% a worse strategy, and in our time management program, we talk about eating the frog. If you have something difficult to do, your best bet is to just do it, rip the bandaid off, and get it out of the way. When a client calls you, you’re at a disadvantage because they might already be worked up and frustrated.
Re-marketing first is a mistake
We see many agencies get themselves worked up, and they want to re-market before having a conversation. We strongly suggest you stop doing that, because you’re going to end up doing a lot of re-shops with a lower conversion rate because you won’t get all of them on the phone. Plus, your goal should be updating that account so you can apply and get the best information. When an account was written five years ago, there are going to be changes and updates, and it’s your job to gather that information.
Come to the call with a reason
If you come up with a reason to call that involves educating and providing value, then it’s not just all about price. You can say “I’ve seen this happen, I want to go over a few things so we can get a plan in action.” Then you can make sure everything is up to date and build the rapport, before you even discuss rates. You’re adding value by educating your client.
Go through a little bit of discomfort to get to a better place with talking about insurance rates. When you’re feeling dread, ask yourself: is this feeling or fact? You almost certainly don’t know for a fact how a client is going to respond. So don’t discourage yourself before you even try.
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