As an insurance agent, you’re likely to get rejected every day. This is a major contributing factor to why 90% of agents last beyond their first year. Here, careers are built on persistently pursuing leads. Fortunately, there are ways to cope with rejection and turn rejections into new customers.
What Are Common Rejections?
People tend to reject based on lack of interest, cost, company loyalty, the need to consult with someone else first, or because of uncertainty.
What If They Say They’re Not Interested?
Even if someone says this, do your best to keep them on the line. Promise a free quote. This could be all it takes.
How Do I Handle Being Rejected Over Cost?
Present the policy in terms of quality coverage, and explain how other companies refrain from presenting full coverage costs so they don’t have to quote high rates. This puts you in the position of the insider and educator, and the prospect is more likely to purchase a policy from you.
If it’s because they already have coverage that’s cheaper than what you’re offering, explain how quality influences costs. You could explain how they could lose more money in the event they’re insured for due to their lack of extensive coverage.
What If They’re Rejecting Me Because Of Loyalty To Another Company?
This approach is similar to how you’d handle cost-related rejections. If it’s because their policy is cheaper, find out what their current policy’s shortcomings are. This will require informing them why they’re paying so little, and emphasizing your policy’s quality.
What If They Reject Because They Need To Consult Someone Else?
Some will wait until they get approval from a romantic partner, lawyer, or accountant. If it’s a romantic partner, you can arrange a group call. If the individual wants to talk to his or her lawyer or accountant, keep them on the phone, because they’ll need to know if they qualify first and they’ll need a quoted figure to present.
What Can I Do When A Prospect Is Indecisive?
This could stem from needing to contemplate the purchase, or not being ready to make the purchase right now. If they say they need to think about it, find out what exactly they need to think about, and address the topic and offer a solution. Information may be all the assurance they need.
If they say they’re not ready to buy just yet, stress that policy prices change daily, and that you can’t promise that they’ll have a cheaper rate if they delay their purchase. This may be the most aggressive response, but this is a potential purchase you need to secure as soon as possible.
Get More Out Of Your Leads Today
At Western Marketing, we work with agents who want to maximize their potential in the insurance industry. We’ll help you refine your approach so that you will get more out of your leads and overcome rejections. If you’re ready to embark on a brighter future in insurance, call us today at (800) 852-7152.