Get Episode Notifications

11. Multiline Sales - Step 8 to Create an Automatic Insurance Agency

Implement a simple process to initiate and conduct multiline reviews to help your clients Find the Money to Protect their Income, Loved Ones, and Assets and uncover Life, Health, Disability, and other insurance product sales.

Video Poster Image

Quick Summary

  • It’s crucial to have a well-defined process for the insurance agency including having a clear vision, defining roles and responsibilities, implementing compensation plans to attract talented producers, establishing accountability measures, and focusing on client retention and acquisition.

  • By offering multiline coverage, the agency can cater to client’s needs and would benefit from having diversified protection across various areas, such as auto, home, health, and life insurance.

  • By offering questionnaires, multiline reviews, and conversation opportunities, the agency can identify clients who want more assistance and provide tailored guidance accordingly.

  • Maximize client participation in the insurance process by offering different ways to engage, such as reviewing appointments, questionnaires, discount reviews, and income protection plan reviews.

  • By leveraging the strengths and skills of employees, the agency can optimize its operations and provide better service to clients allowing the owner to focus on their own expertise and enjoy a better work-life balance.

Full (Edited) Transcript


Multiline Sales - Step 8 to Create an Automatic Insurance Agency

We're almost two thirds of the way of putting our process together. Here we have our vision and our role Clare to know who should be doing what we have, our compensation to attract and motivate awesome producers and our accountability to hold them to task. We have our retention process to make sure we're renewing our best clients and keeping the NES profits possible. And we have our acquisition to bring on new people. We have our Pivoting process to make sure that we're automatically reaching all the clients who could use additional help.
And for those clients who really want deeper help from us, we have our multiline process. I want to ask you a quick question, do your clients want more insurance? The answer is for most of them, yes, they might not want to have to pay for it, but they love the coverage. And so most of our clients have some sort of unbalanced portfolio. There's often the auto and the home protected because they have to maybe some health insurance or not, maybe a small amount of life insurance.
And most, if they were aware, would want to make sure that they have this multiline diversified protection in their insurance portfolio. Now we go back to our model of letting clients opt in for help. So again on the right here, roughly half of our clients in this red section are going to say they don't want additional help. They just want their auto and their home or their PNC being taken care of, and that's fine. We're not going to have those people come to you or your multiline sales people because your retention team members can already help them.
Or maybe your acquisition person brought them on. But for those who want more help, usually they're going to respond to some sort of offer, whether it's a questionnaire or a multiline review to help them get deeper understanding what's going on. So it's not an offer for a sale. It's an offer for a conversation. Now, if we can, we'll use the questionnaire to find out what's most important to the client.
If you think about a doctor or a dentist or any professional, they ask for information first because as we all have heard, prescription without diagnosis is malpractice. So we'll offer this to the client up front. As they walk in, our agency will ask them to please take a moment to complete this form so we can help you make sure that your income, your loved ones and your assets are protected. Mine are fine. That's the implied there.
And of course, I would be looking at that if I'm a true professional. But what about yours? I can also offer that same offer over the phone or via email. I can have a stand up brochure at my desk offering that I could also send letters to my existing clients who are maybe that quiet percent of the book that simply renews their business without checking in. Most of my clients are also going to want to help finding the money to afford these additional coverages.
So I can do a discount review and offer that to help them look at their discounts, their deductibles, any duplicate or dud coverages, see how they're handling their debt and help them drop any unimportant expenses. I can offer to do an income protection plan review and look at what do they want versus what they have in the field of income protection for their disability insurance and their life insurance. And if the clients engage in the questionnaire, they're going to tell me what they want help for. They're going to tell me that they want to get all their available discounts and perhaps want to discount review.
They're going to tell me they want to make sure their income is protected.
So already that can engage people. I can also pivot to the conversation and simply say, hey, many of our clients want to make sure they're protecting their income, their loved ones and their assets, so I can do it that way. And again, I can also call out for appointments or have somebody do that. If that's something we want to do, and then again, mail offers to our quite so what I'm doing is I'm offering the multiline review. It's something we can do to help them look deeper and it becomes part of our process.
We're not pushing it. We're simply making sure we offer it to everybody. Some of our clients do want deeper help. They want help looking at their assets and their liabilities and their income and their expenses to make sure they can best prepare to fund their goals and dreams, and then also protect those with insurance and risk management solutions in case something unfortunate happens throughout this whole process. I can make sure that in addition to our quarterly calls, they were offering at least three times to help maximize our clients participation.
So we can make that initial offer of the review appointment or the questionnaire, and some will not want more help and some will want more help. Those who do not want more help. We can offer the related multiline pivot, and some will not want the pivot, and some will and some at the bottom will want that help to do that income protection plan review and they want to go deeper and do either a discount check or find the money review, and then we can offer that to the rest up top as well.
So we can get more participation by offering more different ways. We can help them.
We're not looking to overcome objections and strong on our clients. We're simply looking for different ways that we can offer to help them. Knowing that different people have different styles. Different people are going to be receptive to different offerings based on where they're at and for most people, at the very least, if we help them, make sure we're looking out for them and we offer to help them find the money through our discount review. There's a very good chance.
Then they'll be open to looking at how they want to protect their income and their loved ones and their assets. Once that money doesn't necessarily have to come from or significantly impact their lifestyle, so that's our first two sections now our purpose and mainly our sales process. Next, we're going to look at once we have these in place. How do you, as the agency owner, start in the best way, making the use of the talents of the people who work with you. And we'll look at how you can best delegate.
So I hope you find this helpful as always, look forward to helping you help more people and make more money and less time doing what you do best so you can better enjoy your family, your friends and your life. Thanks for listening.

You may also See & Hear Full Interviews Here...

Check Out Short Video Clips Here...

Get the eBook


Start Working Less & Making More

At least 5 of these obstacles are hurting your Production, and Income, Freedom. Start fixing them now!

We won't send spam you. Unsubscribe at any time.

eBook will be emailed to you.

Schedule a Strategy Session

We’ll Discuss Your

  1. Biggest Goal - If you or your agency could only achieve 1 thing in the next 12 months, what would it be?
  2. Value of Biggest Goal - What's it worth to you (money, free time and / or happiness) to achieve this goal?
  3. Biggest Frustration - If you could "fix" 1 thing in your agency in the next 12 months, what would it be?
  4. Frustration Cost - What is your biggest frustration COSTING you (money, free time and / or happiness)?


Then, We’ll Discuss the Plan & Expected Results

  • Which goal(s) are likely to be achieved and how long it usually takes, based on our experience.
  • The best way to help you achieve your goals, based on your style and time available to implement.
  • Your anticipated time investments & money investments.
  • What guarantees we can make