September 15, 2022
The art of selling workers' comp insurance can be a tedious task that can come down to one question: Do your buyers truly understand what you're trying to sell and the value it holds?
Workers' compensation is insurance that provides money or medical care for employees who become injured or ill as a result of their career.
In some careers, workers' comp is highly encouraged! In other cases, some businesses might not feel like it is as important for their employees.
However, as an insurance agent, making your clients understand why workers comp insurance is essential. You need your clients to understand that it is a positive part of their insurance plan. This is the road you need to follow to boost your sales and be successful.
Keep reading to find and follow some great tips to boost your worker's comp and general liability insurance sales!
The number one rule you need to follow when selling workers comp to a client is this: don't treat it as a policy, treat it as a necessary program. Once you move forward with this mindset, you can then begin your process.
This process should include conversations, business improvements, and injury management with your client. These conversations start with running an analysis of the client's business and employees.
By having an informative conversation with your client, you can get a better understanding of what they need. Topics of discussion can include the following:
Every state has different guidelines for workers compensation. Be sure to research what guidelines are correct for the client's state!
Talk to your client and figure out what current plan they have in place when it comes to an injured employee. How often do they try to prevent injuries? Are there any unresolved incidents with employees?
If your client has a return-to-work program, this means workers are allowed to work in a limited capacity while they are injured or ill. Find out if they have a medical provider that is used for work comp injuries. Also find out if injured employees are still able to at least work from home. This will help lower the indemnity cost of the claim.
Talk to your client about what their current process is for work comp audits, as well as get job descriptions from employees. Lastly, find out what plans they have in place to address incorrect audits.
Who your client hires is an important factor! Ask your client if they have written job descriptions available for employees. Also make sure that employees are physically capable of completing their job in safe manner.
Being a workers' comp agent is a lot more than just have a conversation with a client about the business they own and the employees they hire.
As an insurance agent, you are not only selling workers' comp and general liability insurance, you are selling your expertise. Clients feel more comfortable with a knowledgeable approach to their insurance plan. Your clients will be more likely to purchase a plan from you if you know what you’re talking about.
The key to making a successful sale with your clients can be achieved by the following steps:
Following these steps can boost your mobility. It can pave the way for more clients and better sales in the future. Competition can be fierce in this field! There are always ways you can improve your sales tactics, communication skills, and industry knowledge.
Knowing how to arm yourself with important knowledge and knowing how to create a strategic plan can push you ahead of the crowd. This can make you into a better insurance agent.
Attracting new clients and generating leads is an important but difficult part of being an insurance agent. How can you make lots of successful sales if you don't have a large group of clients to cater to?
There are a few ways you can grow your outreach to potential clients who would be interested in workers' compensation and general liability insurance.
One way to reach more clients is to concentrate your marketing efforts on one type of business class. This means that you would do deep research and gain knowledge of a specific industry's risks. You can then gain referrals from clients in that same field. You can also beat out a competitor who doesn't have the experience you have.
Another great way to meet new clients is to attend events in your local community. Trade shows, school board meetings and business seminars are all ideal networking events. This is where you can introduce yourself to a variety of people and gain some leads in the process!
Putting yourself out there can be a great way to get people to notice you and form a connection with you. Handing out business cards or calling business owners can put you on peoples radar and form a personal connection with that person.
Another great way to connect is to take the digital route and connect online through social media platforms. Liking other businesses, sharing relevant content, and posting information about your insurance company can be an extra step in forming relationships with industry professionals.
Familiarity, trust, and being seen as an expert in your field can really help you find more potential clients and improve your insurance agent skills.
Certain businesses would really thrive by offering workers' comp to their employees or purchasing general liability insurance. Some fields have higher risks that are part of the daily job description.
If you're looking to gain knowledge of a certain industry to gain more clients, read along to find out which industries you should check out first.
Those who work in the healthcare field are constantly putting their life and safety on the line when they're taking care of others. Doctors, nurses, and first responders make up this field. According to Occupational Safety and Health Administration, the healthcare field is one of the most riskiest fields to work in.
Potential clients in these industries include truck drivers, warehouse line workers, and anyone that transports products on road, air or water. These fields have a high injury risk for employees. Hazards include unsafe transportation conditions, heavy moving equipment, toxic chemical exposure, and physical overexertion.
Working in the great outdoors can have its perks, but this industry has its own challenges. Loggers, agricultural workers, hunters and fishers can be exposed to a variety of dangers. These dangers include dangerous equipment, large silos and grain bins, unsanitary working conditions, and excessive heat.
Employees who work in the manufacturing industry usually help create food and beverages, apparel and textiles. However, being in contact with heavy-duty machinery, as well as dangerous chemicals, electrical equipment, and fires make it a dangerous industry to work in.
Once employees in a certain field find you an expert on workers comp and general liability insurance, and also knowledgeable about their specific job and industry, you are much more likely to make a successful sale!
Now you know more about conversing with clients, how to strategically sell your workers comp insurance and what industries are a good starting place for finding clients!
If you still need help getting out there and marketing yourself to clients, click here to find some great marketing resources. These resources will help grow your insurance business and help you reach your maximum potential as an insurance agent.
Remember, what you are selling to businesses isn't just a commodity, it's a necessity! Workers' comp insurance can be a helpful tool for employees. General liability insurance can help businesses. You can be an important part of that process and become more successful in your career!