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10. Pivoting - Step 7 to Create an Automatic Insurance Agency

Get producers asking about Life, Health, Disability, Umbrella policies and more... right from the Auto or Home policy conversation.

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Quick Summary

  • Instead of relying on verbal pivots from team members, it is more effective to incorporate them into a systematic process to ensure consistent results.

  • By using a questionnaire during auto policy changes or new sales, you can gather accurate information and ensure proper coverage for clients.

  • Leveraging pivot questions for cross-selling opportunities allow a smooth transition into discussing additional insurance needs without overwhelming the client.

  • Maximize client engagement and awareness to ensure that clients are aware of their coverage gaps and options to explore additional policies.

  • Establish a multiline sales process from the beginning where clients can actively opt in to discuss and review all their coverages.

Full (Edited) Transcript


Pivoting - Step 7 to Create an Automatic Insurance Agency

So we're about halfway through the process here we have our vision, role, clarity about who's doing what, compensation to get team members excited to perform and accountability standards to hold them to, making sure they do it. We're clear about how we're going to retain business, to keep business, sticking with us and bring on new business. Now we want to look at how we're going to pivot to our multiline sales. There are a couple ways you can do this. The most ineffective way is to count on your team members to pivot verbally.

Now, I say that's the most unreliable simply because there's a small percentage ten to 20% of team members that will do this. They're just great sales people, and they'll always do it. And they'll almost prove what I'm about to say wrong. But if we're talking about systems that continuously get solid results from non superstar performers, from people who aren't the outliers, but the average, solid, good team member you have, we want to have it be part of your system. And even with your people, that pivot really well, it's not going to hurt them.

It's going to magnify what they're doing and make it easier for them. And so what we want to do is we want to incorporate these pivots into their system. Rather than trying to pivot and having those awkward moments, we want to simply have a be part of our process. So this is one way we do it from an auto policy standpoint. Anytime we're doing an auto policy change or a new sale, anything like that, we can go through this questionnaire.

And what we're going to do is let the client know that we want to make sure we're getting the coverages accurate, to make sure they're properly protected. And in each section, there might be something that's just already on the automobile application. For example, the liability coverage here one a how much protection would you like for lawsuits? We'll ask them what that amount is, and if they don't know, our options will tell what they are. 100, 302, 5551 hundred, whatever it might be.

And then we'll ask a very small sort of mini pivot question that, again, is part of our process. How much liability protection would you like due to injury or property damage from something other than an automobile accident? So we're asking about a personal liability umbrella policy right there. Now, if the client says, oh, I'd like another million or 2 million, whatever it is, we are not going to go into the liability umbrella sale. At that moment.

The client has come in saying they want to look at their auto. We've said we're going to look at their auto. We want to stay on task and focus what they first ask for. So first we do this. And then as we go down further, we ask some of the other regular questions about property damage, medical expense.

Your coverages might be slightly different and then we're going to talk about income protection. How much would you like of protection for loss of income due to an automobile accident? And then if in your agency you sell disability insurance, then you could go to the next question, how much would you want for loss of income due to something other than an automobile accident? So now we're again opening the possibility will pivot to it later. But we've at least asked that question, would you want your income protected if you're unable to work?

Great. That's part of the process. So now majority of your clients, the clients that are getting autos, are being asked this, and then we can go to the specific coverages, the collision, the comprehensive, the car rental, and again, part of your normal process. So you notice the pivots on this form are in the light blue boxes. We talk about emergency road service now, death benefit protection.

I'm personally not that big of a fan of the death benefit protection on an auto policy, but I do love the fact that allows me to pivot to life insurance. So again, death benefit protection due to an automobile accident? Or what about nine B death benefit protection due to something other than an automobile accident? And so again, that allows me to open that conversation, at least with a quick question. We're not going down the rabbit hole just asking that we can ask them about ride share driver losses if they drive for, let's say, Uber or Lyft.

Would you want your car loan or Carly's payment made if you couldn't work due to illness or injury? Again, we're getting back to that disability that credit disability protection to take care of the car payment if something happens, and then I can ask them about other vehicles, all the different questions I need to ask to make sure they're properly covered. And then the last part, I can ask them, how do you like to proceed? And they can decide that they have been made aware of their gaps, and they want to discuss them with a professional, in which case, this is the pivot to offer a deeper conversation.

Or they might say, have been made aware of these gaps.

And I don't want to discuss these further, or they might just even realize, hey, what are those things? A couple of those things you said in blue that there are some things I had are those in my policy, and you could just look at the overall form and say, okay, these parts are part of your policy. These parts are not part of your policy. Would you like to explore those sometime? And unless there's some sort of pressure or push, most clients are open to the process.

If this is how you do the process and just how you sell and how you advise as you sell, clients really aren't going to have much of a choice. And in a good way, if we're doing our job as fiduciaries. We're making sure that we're making all of the options available to the client, and we're letting them see what they like to do with those. So this is something that's not done after the sale. If we do the auto sale and then say, hey, by the way, let me pivot.

There are some that can do that, but the majority of sales people aren't smooth enough. They're not skilled enough to do that. So we want this to be part of our process. And then Additionally, even if you have people that are only doing retention as they collect these forms, then you, as the agency owner or some other multiline salesperson, can pick up these forms and call the client and follow up. And the retention expert or the person who's doing the auto policy review can simply say, oh, this person will follow up with you after to discuss these things you said you'd like to discuss.

So again, the client has opted in. It's not cheesy sales. It's not pushy sales. It's just offering to make sure that they're aware of all their choices. This can be done for auto policies, for condos, for homes, for any sort of situation that's similar to this just happen to be showing you the auto form here.

And so once we've done that, we still want to make sure that we're able to do a full blown multiline process for that client. That from the get go Ops in and says, yes, I want to make sure I'm getting all my coverages. I'm getting all my discounts. I'm not being left with any gaps. My family's protected.

My income is protected. My loved ones protected. My assets are protected. Everything that person we'll talk about in the next video. How We Engage That Person multiline Reviews How we identify that person and what we do with them.

Hope you find this helpful as always, look forward to helping you help more people and make more money in less time. Do what you do best so you can better enjoy your family, your friends, and your life. Thanks for listening.

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