Insights from the field of Selling
Insurance Brokers are currently facing a challenge to grow revenue. Insurance has become an ultra-competitive space and client needs are becoming more sophisticated. Add to that a heightened service expectation and threats from Insure-Tech applications and relationships once thought solid could easily be put at risk. Insurance clients are seeking value-added services that deliver the transparency and control they need for their businesses and a partner to keep them a step ahead of any exposure. Insurance clients will continue to seek out brokers’ independent advice. But, if brokers want to remain competitive in a time of threats to their growth, they must respond and adapt to increasing trends caused by digital disruption and more complex risks.
Download this white paper that chronicles the value of the day-to-day account professional as value creator and growth engine for insurance brokerage. For additional resources visit www.billwaltonsalestraining.com
The brokerage community has had a few weeks to reflect on last year and get ready for 2020. Well we’re in it now and the opportunity remains. Grow and be competitive or ______. Whatever verb or noun you chose to fill in the blank the alternative is not great. Not too dissimilar from other intermediated financial services segments, the agency world is still facing challenges from premium increases, competition from larger firms and insure-tech disruptors.
In speaking to one agency head, they stated that “we can’t afford to lose any of our top 20 clients”. As a small business owner, I totally get that. But I’d offer a more aggressive play.
There is no one more qualified and credible to make business building recommendations to clients than your day-to-day account professional. Relationship Managers, Account Managers and even Customer Service Representatives are in a great position to make “intelligent recommendations” to clients. What will this take?
It’s been our experience that success comes from articulating the behaviors of value creators in sales and service and drawing parallels to what folks are already doing well. Sometimes it’s all about giving account professionals a few high value questions to ask the client that takes the dialogue in a more Socratic direction.
To learn more about converting your account professionals to value (and thus revenue) creators, visit us at www.billwaltonsalestraining.com for additional resources. *To download the presentation from our latest executive briefing on growth in Insurance Brokerage for 2020, click the PDF icon below:
Bill Walton Sales Training has over 60 years of collective Fortune 500 company experience in Sales, Sales Training and Field Sales Management. Our specialty is preparing individuals and organizations to present their value propositions in a way that results in higher close ratios. Our team are un-blurring the lines of differentiation between their client's fiercest competitors.