TRIFECTA of SALES

The Sales Process + Coverage Knowledge + Account Rounding = RETENTION

Presented January 23, 2013

In Association with

IIABSC CPCU WINLI

SALES PROCESS

Rich de la Sota, CPCU MRW Group, Inc

• How to Prospect for Business• Join Organizations of Interest• Develop Centers of Influence – Accountants, Attorneys• Existing Client Base - Referrals

• Learning how to Qualify accounts• Know what your agency ad support staff do well• Knowing when to walk or fire a client – is this ok?• Tales of the mis-qualified

• Establishing a Sales Culture• Do you have Sales Meetings?• Who attends them?

• Customer On-Boarding – Who does what• Applications• Submission/Marketing• Proposals• Customer transition after sale

Sales Process

Insurance Designations

Thomas A. McCaffrey,CPCUMcCaffrey-Naso Inc

Sales Advantages of a Designation

• Provides the training to understand coverages and to properly cover clients exposures. This helps in the sales process to spot flaws in the prospect’s current insurance program. It also greatly reduces the chances of errors and omissions claims.

• You gain the knowledge and the confidence to explain coverages and show the benefits of your proposal which in turn can result in a positive response and desire to purchase your product by your client.

• Be certain of coverage descriptions in advising the client. If uncertain, advise the prospect you will research it for them and then provide them the correct information. By following this path it will show professionalism as long as there is follow through.

Insurance Designations Offered by American Institute for Property & Liability Underwriters Inc: (www.aicpcu.org)

• CPCU – Chartered Property & Casualty Underwriter• AINS – Associate in General Insurance• AIC – Associate in Claims• ARM – Associate in Risk Management• AUI – Associate in Commercial Underwriting• AAI – Accredited Advisor in Insurance

Offered By The National Alliance for Insurance Education & Research (www.scic.com)

• CIC – Certified Insurance Counselor• CRM – Certified Risk Manager• CISR – Certified Insurance Service Representative

Offered By Professional Insurance Agents (www.PIA.org)

• CPIA – Certified Professional Insurance Agent

NICHE MARKETING

Aaron J. Stein, CPCU, CFP

Norton and Siegel, Inc.

Defining our Terms

• Niche (noun)

• A specialty in a particular product or a particular group of clients/customers

• An area of expertise that YOU decide you wish to develop

• Marketing (verb – an ACTION word)• ALL those things you need to do to find, reach,

and sell to your target market

• Finding prospects (List Building)

• Deciding how best to reach them – advertising, direct mail, Trade Shows, etc.

• Qualifying and contacting interested buyers

• Taking them through the sales process

• Post-sale activities to round accounts or generate referrals

WHY NICHE MARKETING?

Typical Advertising/Marketing

Yellow Pages

Newspaper

Direct mail by geography

You send it all out and hope some of it reaches interested buyers.

Target Marketing

Find ways to reach buyers for your product

Fewer arrows can lower costs and increase closing ratio

The Expertise you develop is a ‘value-added’ service

Important Considerations

• Pick niche(s) where you can provide the expertise and competitive product

• Choose your business partners, both clients and suppliers, carefully

• Know when to pass on a client or supplier who has raised red flags.

• Don’t limit yourself to one niche. Diversification is still important.

Account Rounding

Jane Leslie Besser, Marketing

The B & G Group,Inc,

Account Rounding

• How to Implement in your Agency

• Who is involved in creating an ongoing Additional Lines Business Development environment:

• CSR’S/Account Executives• Producers – Additional Lines

• Monitoring and Rewarding