By Keri Herlong
When we consider “influence”, selling is one of the activities that rises to the top of the list. After all, selling involves presenting your product in such a way that you influence someone else to buy it. However, sales skills go beyond just convincing someone your product is better than Brand X. True influential sales means developing a relationship with the customer, understanding their motivations for buying, and being trustworthy. Insurance is not a “one and done” transaction. Our goal as influential underwriters is to create relationships that last.
One of the ways that influential underwriters sell is at their agency visits. Whether you are a field underwriter, seeing your agencies on the regular, or a home office underwriter who does virtual visits or gets into the field once a year, having a clear plan for agency visits will ensure you are being influential where it matters.
Relationships
It’s not just about what you can do for them and their business or what submissions they can send your way. It’s about understanding who they are as people and what they are passionate about, because it is likely more than just insurance! Do they have a family? Do you see any kind of collectible in their office (or their background, if virtual)? What are they posting on LinkedIn or other social media? If you are not connected on LinkedIn, send an invitation. When you do, be sure to include a personal message. If you can tie it to something they have contributed, even better! All of these can help you find common ground and build a better relationship.
Listen
Listening first starts with knowing your audience. We have five generations in the workplace today from 18 to 80+. Although not everyone is a cookie cutter of their generational norms, each generally has common, distinct values. An influential underwriter recognizes motivations and communication styles of others through their verbal and non-verbal cues and adapts accordingly.
Millennials and Gen Z are selling to Gen X and Boomers and vice versa, so everyone needs to learn adaptability. You can’t assume that others will adapt to your communication style. Choose to adapt to them, and you will always be more successful.
Start with what they want to talk about. You may have seven brochures about industries or coverages that you want to write, but if they’re not aligned with what your producer is targeting, your agency visit will be pointless. Pick up the phone and call; ask what they’re targeting or what they want to know more about, and focus your attention on that instead of the latest thing your company launched.
Motivation
As a company underwriter, you’re not selling to the insured, so you need to figure out what motivates the CSR or marketer to want to market to you and your company, and what motivates the producer to want to sell your policy. That means you need to understand what is important to all of them. It’s actually not just the premium, although no one can deny premium is important. Find out what their pain points are. For example, one of the insured’s pain points may be that their current carrier doesn’t truly understand their business. The agency’s pain points may be lack of service with their other markets – never knowing which underwriter they will get when they contact them, or delays in responding.
Don’t just return a quote in response to a submission, explain why you are the best. If you’ve taken the time to identify pain points for both the insured and the agency, you can direct your sales focus to address those and explain why you and your company can improve their experience.
Don’t forget about the CSR. You may have a great relationship with the producer, but it is important to have a good relationship with the CSR or marketing person, too. They are the ones who often choose which carriers get the submissions. Understanding their motivations and being focused on that relationship will ensure you get the good accounts in plenty of time, instead of only the submissions that everyone else has already declined.
Some people are motivated by recognition, so it’s a great idea to stay up to date on industry news and know what’s going on in their world. Google their agency name and “news”. Check out their LinkedIn profile (the producer, CSR, and agency). People post things on LinkedIn they are proud of or find insightful. When you tell them you saw what they did or posted, it elevates your role in the relationship.
Set Expectations
Acknowledge a submission, show gratitude for it, and set expectations. It takes mere seconds to respond to an agent’s submission with a simple, “Thanks for the submission! I should be able to do a thorough review by Monday. I’ll get back with you at that time. Let me know if you need anything in the meantime.”
Trust
Finally – honor your commitments. Do what you say you will do. Answer questions honestly even if that means saying “I don’t know.” This is especially impactful for those newer to their roles – whether underwriters, CSRs, or producers. No one expects you to know everything. If you don’t know, say so, and promise to find out. Then, check in with them regularly if the research proves more difficult than simply reading a form or your underwriting guidelines to see if something is a market. Making something up on the fly to appear more knowledgeable, and then having to walk it back when you find out you were wrong, damages the relationship. The next time they ask you a question, they will wonder if you are right – if they even ask you a question again at all.
Refining your sales skills will improve your influence, which translates to better relationships and improved performance for yourself and your company. Ultimately, the influential underwriter is the one who understands the importance of adapting to others’ communication styles, explaining their policy’s benefits specific to the agency’s and insured’s motivations, and establishing themselves as a trustworthy partner and advisor. If any of these suggestions are new to you, take one and implement it over the next week and see what changes. I would love to hear your results!