In this article, we are going to discuss “how to be a successful life insurance agent”. We know and follow lot of top insurance agents in the industry and have tried to compile their teachings in this blog. Success can be defined in multiple ways and it is different for each person . After observing top insurance agents we have identified below mentioned components required to be a successful life insurance agent.
Retaining existing customers
Acquiring new customers
Doing social good
Whether you’ve sold life insurance for years or just starting out, it’s imperative for you to take advantage of mentoring. After all, there’s always someone who knows more than you. Surround yourself by like-minded and driven people who strive to succeed. Instead of feeling offended that a more seasoned agent offers advice, embrace it. The more you know, the better you become.
Stay on Top of Trends
Because life insurance policies changes, it’s essential that you stay on top of trends to achieve the success you want. As a result, you’ll not only have a better chance of selling what the client needs but also what they believe they want. With a vast knowledge of life insurance and by remaining enthusiastic yet professional, you can carefully guide an individual toward the best coverage, whether trendy or not.
Digital and Social media marketing
In today’s world to be successful every business should understand how digital and social media marketing works. It’s good idea to acquire skills like search engine optimization, facebook/Instagram ads and so many other skills which can get you way ahead from your competition.
If you survey top insurance agents you will find that one habit which most of them have is reading books. Books provide wealth of wisdom and you can acquire skills in few days which would have taken years to figure out yourself. We have complied list of books which insurance agents should read and below I have provided link to that article.
Unless you are starting fresh retaining existing customers is more important than acquiring new ones. Also retaining existing customers is much more cheaper than acquiring a new one.
Make Yourself Available
No one said an insurance agent’s life is easy – but it’s rewarding. In this role, you’ll have people contacting you at all hours of the day, on the weekends, and even during the holidays. Even though a lot of people balk at buying life insurance, this remains a fiercely competitive market. That means you and other agents vie for the same clients. Being available to answer questions or offer advice will go a long way in you reaching a higher level of success.
Some professionals, including doctors and law enforcement personnel, need to be careful about becoming emotionally involved with the people they serve. However, as a life insurance agent, this rule doesn’t apply. If you want to have a long-term, successful career in this specific field of insurance, you must genuinely help and care about your clients. Spend time with people so that you can better understand their wants and needs.
Successful life insurance agents nurture relationships. To accomplish, this, they pay attention to details and look for common ground. As an example, if you and a prospect both have kids, you might ask if they’re involved in sports. If they are, as well as your children, you instantly have a foundation on which to build on a trusted relationship.
When customer is reaching you for a question, claim or any issue for that matter you should be able to acknowledge and resolve that issue as soon as possible.
“Only difference between a good and bad agent is if he/she is there for a claim” Keagan Henson, BriteBee
Today customers are expecting 24/7 service and your ability to do that will help in differentiating from others in market. Chatbot can be a great mechanism for providing 24/7 service. Check article mentioned in below link to learn more about this.
Although everyone should invest in life insurance, when an agent reaches out to sell a policy, most people turn away. It’s not necessarily that they aren’t interested in having coverage that protects their loved ones after death, it’s more the approach of the person trying to sell. If you currently work as a life insurance agent or want to start a career as one, the information provided will help you achieve optimal success.
You need to you have a brand for your insurance agency to stand out and differentiate from thousands of other players in market.
Chris Paradiso from Paradiso Insurance is a successful insurance agency owner. If you ask him secret behind his success then building a brand will be one of the top answer. Brand include things like your website, logo, print material as well as what you stand for and how you interact with your prospects and customers.
“Start with your Brand. Your Brand is your WHY” Chris Paradiso, Paradiso Presents
Checkout below mentioned article to learn more about branding and how you can use it for competitive advantage.
Even with a stabilized economy and increasing incomes, people still want to get the most value for their money. This applies to life insurance. In this case, you first need to show them why they need protection, followed by providing them information on excellent policies for the best value.
Many agents try to focus on price but do we ever look at price when we are looking for a heart doctor? Insurance is important and one should offer best value for money which may not be the cheapest possible option.
Believe in What You Do
Successful people, whether selling life insurance or working in a completely different capacity, truly believe in what they do. If selling protection that people need is a genuine passion, you’ll enjoy incredible success. You can bolster that passion by learning as much as you can and reading actual stories of how insurance coverage positively affected the lives of policyholders.
Dress to Impress
No, you don’t want to meet a potential client for lunch pulling up in a Lamborghini and wearing a Rolex. However, you do want to dress professionally, so they’ll see that you take your career seriously. Remember, a successful agent isn’t selling policies but rather themselves. It is through the connections you make that encourage prospects to buy life insurance.
Speak the Language: Sort Of
When talking to a potential client about a policy, you want to speak the “life insurance” language. At the same time, you need to provide information in layman’s terms. By doing things this way, people see you as an authority figure. However, they also understand what you’re saying because you make it clear. For this, there’s a fine balance. You want to speak the language, but without talking down to someone or using lingo they don’t understand.
For prospects, not receiving a response to an inquiry within a reasonable amount of time is extremely annoying. When someone reaches out to you, to ask questions about life insurance or request a quote, that’s the time to respond. That person is in a buying frame of mind so if you fail to return a phone call or email, you just missed a huge opportunity. That’s why having a chatbot for your agency is a must. It can respond to general questions quickly and for specific questions which need your attention it will intimate you and you can respond.
You know that people talk. The last thing you want is to have a reputation as the insurance agent who doesn’t respond. Instead, make it a point to call people back or send an email within an hour or two. While that might seem impossible, it’s not. If you need more time, use an autoresponder, so the person who sent an inquiry via email knows when they can expect to hear from you. You can also hire an answering service or an assistant to handle the phone calls.
A quick response shows potential clients that you care about their business. They feel respected and valued, two key components of achieving success as a life insurance agent.
Focusing on digital marketing is must at this age to acquire new customers. Your customers are googling about their problem, they are discovering your competitors on facebook/ Instagram and other social media channels. It’s imperative that you invest time and energy in leveraging digital marketing to your advantage. Check out below mentioned link to learn more about digital marketing strategies.
Unless you have a system in place to measure the results of your hard work, you’ll never truly know if you’re succeeding or plateauing. You need to have some type of tracking system for every stage of the sales funnel. Along with strengths, you can identify weaknesses and then remedy them quickly. You can share statistics with your prospects, showing them you’re the best person for the job.
Doing social goodCommunity Involvement
Another way to succeed as a life insurance agent is to get involved with your community. Join the local Chamber of Commerce and volunteer for non-insurance organizations. This gives you credibility. When people see an agent spending their personal time working to help the same community where they live and work, it leaves a positive impression. Also, attending various events that have nothing to do with insurance creates an opportunity that you might not otherwise have to talk to people about coverage.
The Bottom Line
As an insurance agent, there’s no reason you can’t succeed. Doing and saying the right things will help you surpass your expectations.
Hopefully, this article was useful to you and helped in learning something new. Please share it with anyone who may benefit from it.
Setup your free Success call with our team and figure out how you can take your Insurance Agency to next level.
Are you tired of fighting to achieve a higher level of success for your insurance agency? One of the most powerful ways to gain an edge over your competition is to learn how to build a brand. With the information provided, you’ll begin to see a dramatic change for the better. In this article, we will discuss how to go about branding for an insurance agency.
What Is Branding?
Insurance agents understand the importance of marketing, yet some fail to recognize the full advantage of branding. Every year, millions of people buy insurance or renew an existing policy to ensure they have optimum protection for their automobiles, homes, rental properties, boats, recreational vehicles, health care or dental needs, funeral expenses, and so on.
Not only is insurance something that people need, but it is also mandated by current laws. Because of that, the insurance industry has become incredibly competitive. Instead of fighting to grow your agency, you can benefit from what branding offers.
By definition, branding is a type of marketing strategy that entails creating a name, design, or symbol that makes your insurance agency easily identifiable. Overall, this sets you apart from the competition. With branding, people can quickly and easily identify one company from another.
Strategies for BrandingLogo
Your logo serves as a powerful branding strategy for your insurance agency. Take Nike and Adidas as prime examples. Each chose to brand their products with a distinct design. Nike’s shoes and apparel have a black swoosh that resembles a wing in the air, which comes from the Greek Goddess of Victory. On the other hand, Adidas opted for a design in the shape of a mountain that represents the various challenges faced by athletes. Although completely different visually, people immediately know one brand from the other.
You have the same opportunity for your insurance agency. The right logo will make a lasting impression on both prospects and existing customers, setting the tone for what they can expect when buying insurance from you. Simply put, the brand becomes a true representation of what your business is and how you want people to perceive it.
When it comes to branding, the one thing you should invest in is your company’s logo. If possible, work with a professional graphics designer or someone with the skills to use your ideas to create a strong branding statement. If you need to stick to a budget, there are several excellent tools available online. Remember, not only does your logo need to represent your current business but also what you anticipate it becoming in the future.
Start with a clear goal of how you want to present your website to your target audience. The layout also plays an important role in branding. To make your brand identity clearer, be sure to place your tagline and logo in the most visible areas.
Even the colors you select make a substantial difference in branding efforts. As you’ve probably heard, different colors evoke specific emotions. Select the colors that highlight your company’s values but will not overpower your prospects. For instance, red represents energy, orange embodies confidence, and yellow signifies optimism. While all excellent choices, because they’re so bold, use them sparingly.
Maintain a cohesive style for your site. The combination of the right visual style, easy-to-read format, and a consistent message helps with branding. For cohesion, include your home page, landing pages, and even any blogs or articles posted. This helps familiarize people with your business, which in turn, makes it more recognizable.
Because the tagline portrays a specific message, you want to choose something that grabs the attention of and resonates with your target audience. Although a tagline is short, there are many ways to make it powerful and memorable. Again, look at Nike’s tagline, “Just Do It.” Those three words provide an impactful message. When having your logo designed or if designing it yourself, be sure to integrate your tagline.
You can also brand your insurance agency using various social media platforms. You should utilize all the major sites such as Facebook, Instagram, Twitter, LinkedIn, and Pinterest. Always remain consistent with the style, color, and message across the board. For social media, it’s also imperative that you tell a story using both transparency and your normal voice. Sharing a real-life event with your target audience will go a long way in making a lasting impression.
Along with the branding ideas mentioned, you have even more options for branding your insurance agency. For example, take advantage of storefront signage, a slogan, your company’s culture, customer support, product or service quality, pricing, and more.
All these elements work together to create one professional profile that grabs the attention of the people you want to reach. The power of branding is vital to the success of your business.
Benefits of Branding
As you look over the list of reasons for boosting your branding efforts, you will understand why this is critical for your insurance agency.
Branding your agency builds recognition. While all the components mentioned play a critical role, your logo is perhaps the most vital. As with the example provided, you want a logo that is both memorable and powerful. Select something that people quickly recognize and then include the logo on your letterhead, in quotes, as part of promotional material, and on your website.
Makes Marketing Consistent
The more consistent you are in displaying your agency’s logo, the more successful you are in your branding efforts. Although it takes time for people to recognize your brand, displaying your logo wherever you can will speed up the process.
The more that people recognize your brand, the more they’ll trust you and your agency. Part of that entails providing excellent insurance and outstanding customer support. For the recognition aspect of branding to turn into loyalty, people have to know that what you offer is of superior value.
Loyalty is often passed down from generation to generation. That means your long-term customers will share their experiences with your agency, prompting future generations to buy policies from you instead of somewhere else.
Maximizes Product Launches
If you currently sell one or two types of insurance but plan to expand your offering, brand equity will maximize that effort. With brand recognition, people will pay attention when you announce a new product or service. With the right branding, you encourage people to buy from you or add an existing product to what they already have.
Branding will also make you appear credible. When you combine innovative marketing strategies, outstanding customer support, and fascinating visuals, your agency’s credibility increases within the industry and among your customers.
Creates Opportunity for Talent
Social media marketers, online influencers, concept builders, website designers, and other professionals notice an agency with excellent branding. As a result, they and other outsiders will start showing a greater interest in your company and its growth. That opens new doors of opportunity to collaborate on taking your agency to a new level of creativity.
As more people trust your agency, you’ll see an increase in the number of policies sold. Now, recognizing that you have a viable business, people interested in buying insurance will turn to your agency rather than to one of your competitors.
Especially if you recently opened a new insurance agency, people may feel somewhat leery of switching. However, when your branding comes together as a professional and complete representation, those same individuals will begin to have confidence in you and the service you provide. At the same time, your confidence builds.
Take Charge of Your Future
Instead of worrying about what your competitors are doing, take charge by branding your insurance agency. A strong brand will do a lot of the work for you in bringing awareness to your business and giving people confidence to purchase coverage.
What Is SEO, and Why Is It Important for My Insurance Agency?
In today’s market, digital marketing is a simple fact of business. It is essential that your insurance agency has a strong internet presence by being easily searchable, comfortable to navigate, and organized. This will help you get ahead of other insurance agencies in your market. SEO for insurance is especially important in large, competitive markets, so it is an absolute necessity for local insurance agencies to succeed. All these things can be accomplished by optimizing your website for search engine compatibility.
Search engine optimization, commonly abbreviated as SEO, is a digital marketing strategy designed to make a business more prominent in internet search engines. Most internet users browse only the first page of search results, so having your insurance agency’s website appear there means it is much more likely that clients will find their way to you instead of your competitors.
How to Get Started Optimizing Your Website for SEO
Although the prospect of optimizing your website may initially seem daunting, SEO really begins with an understanding of your industry and your audience. This means that you are familiar with common important keywords and phrases used in your market and can anticipate how internet users will formulate their internet searches. Make sure these keywords are included in your website in natural sentence structures. There are ways to incorporate keywords into everything from article titles to image descriptions to HTML code.
First step of starting with improving SEO is to do a Website audit to figure out areas where your site can improve. It will highlight on site issues, performance issues , backlinks, broken links etc. You can either hire a professional to do it or use one of the online services.
On site SEO for Insurance
You can use tools like “Yoast” to identify on site SEO related issues on your website/blog. For each article, Yoast will tell you items which you can improve to make it easier for search engine to find your article. Some examples are having a “Focus Keyword” in heading and first para of the article, having internal and external links, having article with certain length etc.
After this, the next step of SEO is making sure your website is clean, self-explanatory, and user-friendly. This means that there are clear menus, easy-to-follow links, and all the information that people will want to know when searching for a local insurance agency. Remember that the internet gives customers the ability to easily compare services, so if your website is confusing or hard to navigate, there is nothing keeping them from going to a competitor’s website instead. A user-friendly site makes it much more likely that customers will have their questions answered and be interested in the services you offer.
Keyword Research and Industry-Specific Considerations for SEO
Making sure your website is comfortable to use, however, is only the first step.
Step 1: Think about keywords your customers may search
Your ultimate goal is to optimize your website so that if a user searches a phrase like “car insurance agency near me,” your company appears as close to the top of the search results as possible. Being on the first page of results is good. Being in the top three to five results is even better.
Other keywords to optimize for be phrases like “car insurance quotes,” “insurance comparison online,” or “where to get auto insurance in Victoria, Texas.” Think about the questions most new customers have for their insurance agents or what their primary goals are in seeking a new insurance agency. Those phrases will link your business website to future online queries and lead potential clients to your agency. There are dozens of potential keywords and keyword combinations that can be used in your site to make it more visible to online searches.
One tool which can help you in easily identifying what people are searching for is https://answerthepublic.com/ . Just type a keyword and it will give you all combination of queries people are asking for that keyword.
Step 2: Do Competitor analysis
You can use tools like SEMRUSH.COM to find out which keywords your competitor is ranking. After that you need to do analysis to figure out whether to buy that keyword using Adwords or rank organically by writing articles.
In order to make this decision you can use site like Moz.com and use their keyword explorer tool (https://moz.com/explorer) . This will tell you difficulty level of keyword. If difficulty level is less than 30 then it is a good idea to write an article and try to rank on top of that keyword.
Now if the difficulty level is high then you should log in to Google’s keyword explorer tool and find out how much will it cost to bid for that keyword. If cost is reasonable then go ahead and bid for that keyword. If the cost is very high then try to focus on longtail keywords which might be cheaper to bid.
Step 3: Focus on Long Tail Keywords
Keywords are a central part of SEO and how search engines order results. Nonetheless, while it is vital to use keywords that are common turns of phrase in your market, make sure to refrain from “keyword stuffing.” This is the unnatural use of keyword phrases in a sentence. Keywords should be incorporated naturally into articles, page titles, and other descriptors. Search engines look for phrases that are used in a normal, human way, not inserted awkwardly into sentences. Therefore, keyword stuffing can actually damage your web presence.
The highly competitive nature of the insurance market makes keywords even more complex. If your insurance agency is a local one, it makes little sense to try to dominate a national market with the use of common insurance phrases. It is simply not an effective SEO marketing strategy to pit your company against bigger corporations with more brand power. Instead, seek to use SEO to become a leader in your local insurance market. This means using keywords that help your business come up in search engines when users search for Long Tail Keywords, like “insurance agency in Charleston, West Virginia.”
Optimizing Consistency, Quality, and Social Media Presence
Your website should have a consistent schedule of producing quality content, and you should make sure you strongly promote this content on Twitter, Facebook, and other social media sites. Quality is the most important aspect of this: Your web content should be full of not only of keywords but also internal and external links (links to other pages on your site and to other sites, respectively). Long, quality posts promoted on social media help show that your insurance agency is knowledgeable and trustworthy, while short or infrequent posts showcase unreliability or fly under an audience’s radar.
Make use of the full scope of social media. Promote on the platforms where your clients spend time, such as Facebook and Twitter. It is also extremely important to have a Google Plus business page with all your business and contact information, as well as links to your website. Make sure this is updated consistently with the correct information in the proper format so that it can be picked up by search engines. Also encourage your customers to leave you Google reviews. Having a large number of positive online reviews will make your business more visible to search engines and can take you a long way in promoting your insurance agency.
Monitor and Improve
You should use Google Search console to keep track of keywords your site is ranking. Different parameters in console will point you towards areas of improvement.
CTR- Click through rate
For a particular keyword if CTR is low then it indicates that heading of your blog/article is not compelling enough for users to click on it. Hence your try modifying heading and test which ones are performing better.
If you are ranking low on a particular keyword but it is getting lot of impressions then it means that people are searching for that keyword a lot. In this case either you should write one more article with this keyword as focus or add more content to an existing article.
Fetch as Google
Whenever you write a new article/blog or add a new page to the website then make sure you use “Fetch as Google” feature in Google console to index that article. This will help in raking new articles faster else you will be waiting for Google to crawl this new article which may take months.
How to use Machine Learning/ AI in Google Analytics?
In your Google analytics dashboard, you can find “INSIGTHS” on top right side.
The INSIGHT tool taps Google machine intelligence to find key insights from among the thousands of metric and dimension combinations that can be reported in Google Analytics. The tool also offers quick tips on how to improve your Google Analytics data. And because it’s based on artificial intelligence, it gets smarter over time as it learns more about your business and how you use the software, Google says. You can also type certain questions which you are curious about like “ Why traffic reduced on site this month” , “Which Page gets most traffic” etc.
Backlinks for Insurance Agency
Backlinks basically refer to other websites mentioning article or blog of your website and having URL corresponding to it. More relevant backlinks your site has more credibility it achieves in front of google and this helps you in ranking higher.
Tips for getting backlinks
Reach out to Industry connects- You can reach out to other insurance agencies and different insurance organizations like PIA/IIA . Ask them to mention your website or article on their site in exchange for mentioning theirs in your site.
Reclaim links on Publication- Certain publications may have mentioned your agency on their site but forgot to provide a link to your site. Make sure you reach out to them and ask to include a link on their site.
List on Anglelist/Crunchbase – You can add your website link on websites which provide listing in your area.
Quora/Pinterest- Many times in Quora people may have asked a certain question and you may have a relevant article for that query. In this case you can provide answer and drop your website link.
There are many other aspects to optimizing your insurance agency website for SEO. In a highly competitive market combined with the continuously updating algorithms of search engines, SEO is not a one-and-done affair. It is important to make sure your website is also frequently updated to keep your insurance agency at the top of search engine results and at the top of your market.
SEO for Insurance can help customers in finding your website via google search. Friendly agent can help you convert your organic traffic into leads.
Setup your free Success call with our team to form SEO strategy and to figure out how you can take your Insurance Agency to next level.
Imagine you enter an insurance agency and it is empty, there is no one to greet or talk to you or someone you can ask queries. There is one register where you can enter your name, phone number, email and your query. You will receive response in next few days or maybe month. Will you like that kind of customer experience? Most of the insurance agencies are providing similar customer experience on their website. When customer come to their website and have some query ,only option available to them is to fill a Contact Us form. Chatbot can act as virtual agent for your agency where it help client 24/7. It will welcome customers, navigate them to various ways you can help them and answer any query client may have.
A customer looking to buy insurance for his new house or car, wants to compare insurance policy coverage and premium payable for different insurance carriers. Most likely he/she will prefer to browse online rather than making personal visits or phone calls to different insurance companies. Well, he may have made the right decision as he is just a few steps away from his queries getting resolved and making the final decision on his insurance needs.
When shopping online for an insurance requirement, customers often face an issue navigating through the insurance site. Often they need help sifting through all that information available online. Most customers are confused with the vast amount of policy choices. However, with insurance agencies and companies adopting innovation in their deliveries, customers are now being offered enhanced experience during their insurance shopping.
So what are insurance agencies and carriers doing?
They are focusing on chatbot integration within their websites, moving beyond the traditional “contact us” page and “customer care email”. With a chatbot, immediate queries of the customer or even the casual browser is answered. He is directed to additional information about the policy, with the premium calculated in a few seconds. So very likely the customer comes away having decided just what policy to take. The more intuitive the chatbot, the more capable it is to reduce customer churn and increase sales. The NLP functionality intuitively learns about the customer requirements to suggest the best policy offering. All from the comfort of his laptop at home or office, and at his convenience!
The chatbot acts as a virtual 24×7 assistant by answering questions and guiding the insurance purchase to the right product. It walks the customer through the process of answering FAQs, suggesting various policies available, the best-fit coverage and the premium payable. It is interacting with customers during weekends / after hours and acting as virtual team .
Still not convinced about how the insurance chatbot enhances customer experience? Then read on.
When a chatbot talks to a customer, his geographic and historical data from any previous interactions is used to suggest tailored recommendations. Coverage of specific items and events that are associated with the customer’s location or previous insurance claims is automatically suggested by the chatbot. Also known as on-demand insurance.
One of the most transformative uses of chatbots in insurance is in claims processing. The long and often tedious process of filing insurance claims is taken care of by the automated interface provided by the chatbot. Assistance is provided to the claimant for registration of the incidence of loss, schedule appointment for evaluation, arrange emergency support during accidents, and offer customised post-disaster assistance wherever applicable, like fire and burglary. This is one the most redeeming features of the chatbot as the claimant is able to navigate the process without the delays involved with manual filing. The automated process not only ensures the speedy settlement of claims, it also enables the customer to track the settlement process at any point of time.
For the insurance company, it saves workforce overheads, while simultaneously minimizing the likelihood of fraud.
Acts as an automated always-available insurance agent
Chatbots are highly automated and efficient; able to tackle any customer requirement with an instant response. Using NLP and AI-driven intuition, the chatbot is able to figure out the customer needs. Moreover, any historical customer data of the customer is instantly available to the chatbot for efficient customer support. Information such as whether the customer has other policy with the insurance company, any claim history or disputes; are drawn upon for suggesting best policies within a short time. This remarkable ability of chatbots is reason why customers prefer to book their insurance virtually.
Supports automated underwriting
Chatbots offer a conversational interface instead of tedious static web forms. This simplified process simultaneously gathers information to perform automated underwriting functions based on the dynamic data. Imagine automating the rows and columns of actuarial spreadsheets using a ML capability, for underwriting insurance in a matter of seconds!
This benefits the customer, as he gets a seamless and near-instant recommendation for his insurance needs.
Leverages the IoT network to provide a seamless customer experience
As the insurance industry leverages IoT-related technology for better solutions, it is the customer who gains. For instance, in motor insurance, IoT telematics or usage based insurance is used to offer additional coverage based on the customer behaviour. In healthcare, wearables and health trackers enable to determine costs associated with an insured’s health.
With more and more customers opting to buy their insurance on their smartphones, chatbots are able to help speedup the on-boarding process by activating new accounts after asking the necessary questions. As the chatbots record chats across browsers and devices, customer data is leveraged to provide the insurer with an optimal customer experience.
In an IoT network, chatbots also help speed-up settlement of claims, with faster verification of risk management information, in place on costly assessments and audits.
Chatbots are proving to be critical in the delivery of intelligent customer services in insurance. With a minimal setup they are able to improve the customer support process. Insurance chatbots are thus proving to the most effective and fraud-free method of serving customers get the most of their insurance spend.