Marketing Commercial Insurance

[mmaedelins]

No worries...I'm not interested in traveling to Bergen County to take care of clients. Just sticking around here...

 

[oicu812nbama]

on closing, if your rates are lower and the prospect understands that it's the same coverage then assume they are going to do it by completing the paperwork. (tell them where to sign)

 

[TwiLight]

working with a payroll company is also a tied and true method of prospecting. Check Empire Networking out.

 

[Manmac]

Hi Everyone,
I just started selling Commercial Insurance in NJ about a month ago and I'm looking for any tried and true ideas on marketing commercial insurance. I've been cold calling and have a pretty good success rate with that (mostly auto repair places). Of 100 calls, I received 16 who wanted quotes and 60 leads for next year (those who gave me their renewal date and asked me to call back to give them a quote around that time). What I'm looking for now is not to reinvent the wheel, so to speak, when it comes to marketing in other ways. Any ideas? All answers are greatly appreciated.

That's really awesome, sounds like you are doing great. Just curious, if you don't mind sharing, what exactly are you saying to them (i.e. your script).

 

[JosephWilson86]

Hi Everyone,
I just started selling Commercial Insurance in NJ about a month ago and I'm looking for any tried and true ideas on marketing commercial insurance. I've been cold calling and have a pretty good success rate with that (mostly auto repair places). Of 100 calls, I received 16 who wanted quotes and 60 leads for next year (those who gave me their renewal date and asked me to call back to give them a quote around that time). What I'm looking for now is not to reinvent the wheel, so to speak, when it comes to marketing in other ways. Any ideas? All answers are greatly appreciated.

Good work, what kind of companies are you targeting?

 

[mmaedelins]

That's really awesome, sounds like you are doing great. Just curious, if you don't mind sharing, what exactly are you saying to them (i.e. your script).

Thanks Generally, I say, "Hi, my name is - and I'm with -. I've been helping other (auto repair, hvac, etc) businesses in NJ with their business insurance policies. I'm just giving you a call to see if you'd like me to do a free review of your current policy." or something along those lines based on the response of those who pick up the phone. I kinda like to wing it so it doesn't sound so scripted.
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Good work, what kind of companies are you targeting?

I've had the most success targeting auto repair shops though I've tried everything from contractors to churches. I'm becoming quite the expert on garagekeepers insurance!
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on closing, if your rates are lower and the prospect understands that it's the same coverage then assume they are going to do it by completing the paperwork. (tell them where to sign)

Thanks though those are the easy ones to close! What about when the rates aren't lower or they are only slightly different? How do you get the client to switch to your agency for anything other than a rate savings? I'd like to bring more people on who want to work with me not just those who are looking to save a buck since they will be the first to switch as soon as someone else can save them another dollar!

 

[Underwriter2Agent]

Thanks Generally, I say, "Hi, my name is - and I'm with -. I've been helping other (auto repair, hvac, etc) businesses in NJ with their business insurance policies. I'm just giving you a call to see if you'd like me to do a free review of your current policy." or something along those lines based on the response of those who pick up the phone. I kinda like to wing it so it doesn't sound so scripted.
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I've had the most success targeting auto repair shops though I've tried everything from contractors to churches. I'm becoming quite the expert on garagekeepers insurance!
- - - - - - - - - - - - - - - - - -


Thanks though those are the easy ones to close! What about when the rates aren't lower or they are only slightly different? How do you get the client to switch to your agency for anything other than a rate savings? I'd like to bring more people on who want to work with me not just those who are looking to save a buck since they will be the first to switch as soon as someone else can save them another dollar!

I would love to hear how things are 2 years later from the original post, how about an update, sounds like you have been doing a lot in the auto biz. Now an expert in garage keepers.

 

[EugeneM]

Let me do the math...

You got 76 leads out of 100 contacts in a months time. Don't change a thing. Not ONE stinking thing. You are playing in the major leagues.

You might look for help closing sales maybe but you don't need any help with prospecting.

I would be careful what you consider a "lead". What a "hot" lead to one agent is not even worth calling to another. In terms of lead do you have renewal dates? Carrier information? incumbent agent relationship status? How long have they had their plan? Are they going to take your quote and leverage their agent relationship? If you did spend time and money on quoting could you even be competitive? those are the things that add value to a lead. If you ask these questions you will double if not triple the value of the leads you generate. I hope your recording ever little detail in a CRM. Contact me if you need help with Process I can give you a pointer or two.

 

[sludgesurfer1]

There are definitely some good kernels of wisdom in this thread

 

[Jinc]

working with a payroll company is also a tied and true method of prospecting. Check... out.

Interesting!! Thanks for sharing.