Originally Posted by VaDwayne
I only sell commercial insurance on the P&C side and the posts are 100 % correct. It is a lot to learn and every risk has different exposures.
I agree that is very important to have a mentor that can offer advice on coverages. I also think it is best to specialize in one or two SIC codes and learn all you can about it and the exposures they have.
Don't make the mistake I made by becoming a quote machine. Learn to ask questions and qualify clients before taking many hours of your time preparing quotes only to have the client use your quote to keep his/her cureent agent honest and also using your information to have their incumbent agent fill in coverage gaps, fix mistakes, and MATCH YOUR PRICE!!!! They don't even have to beat it for the client to stay with them.
Do you mind me asking what your sales process is to avoid being a quote machine? I'm a new agent with a focus on commercial lines. I'm pretty well versed in most products and understanding of the insurance products is not an issue. I would like to get a sales process that doesn't end up with me giving a bunch of quotes.
I envision something like:
1) Identify my target prospects
2) Make contact with a goal is getting a meeting
3) Meet the prospect and use this meeting to "fact find" business needs, gather/review existing coverage
It is at this step I would like to "win" the prospect so that when I come back with the proposal, we will be binding coverage. My question is how do I do that at this point? If I get the customer to agree to move forward with the quoting process with the expectation that means they are agreeing to do business with me, would it be appropriate to request the prospect to sign a BOR at this time?
If not, how is it that you avoid preparing quotes for every person you meet with?