How To Be Successful in Insurance Sales

Many of especially younger colleagues but also the experienced ones who followed my success journey over the last years ask me „Torsten, tell me,  How To Be Successful in Insurance Sales , just like you are?“ And this question has become even more relevant when you look at the economic damage which the pandemic caused in nearly every industry in our world. And before we come to  some basic tipps on how you can model my success in insurance sales I would like to hand over a special gift for you: If Covid or any other following crisis struck your business just take a look at my case study on this topic right here. You will be able to switch your business to success again in very short time. You will enjoy, I can promise you!

Here is Part 1 of How To Be Successful in Insurance Sales

Did you ever ask yourself why some of our colleagues seem to achieve their sales figures and goals somehow easily and effortless? Whilst most of the other colleagues, with probably you in this group, are struggling and getting under pressure of their insurance company. Let me tell you: there is an answer to this question and there is a solution to your problem.

But before I explain the three pillars of success to you let me shortly introduce myself. My name is Torsten Schardt and I’m in insurance business for over 25 years now. But why should you listen to me or read what I write here?  Now, my experience is huge, I’d like to say that I got a nearly 360 Degree perspective of our job. Not only that I have achieved sales figures – as a solo agent! – of nearly a million Euro in commissions per year. I also worked „on the other side“ , as a managing director for a German insurance company. So you can expect tipps from me that will help you to be successful in your view but also on terms of your company so that you can achieve not only more sales but also more indepence from the expectations of your insurance company. And although I was member of the top sales clubs in every company I had a contract with, there were dark times for me too.

It’s about eight years ago that I lost the contract with my insurance company and therefore all my clients, all my recurring commissions and more, simply because of a really bad choice of business partners some 20 years ago. So, you see: I know what I am talking about when it comes to success and how to be successful in insurance sales even after you have to start from scratch again. And if you want to know every detail and every step to take to achieve this success in sales, just grab my book. You can buy it on amazon or simply get it here for free and only cover shipping.

Learn Part 2 of How To Be Successful in Insurance Sales

Now, let’s get to the point. What do you have to do? What is it that the really successful colleagues in our industry and btw also in other industries are doing? Are you ready to hear the secrets? OK, I will come to them in a second. Let me just tell you, what are NO relevant factors for your success. First: it is not your insurance product. Neither the quality nor the price of it. Why? Now, there are a lot of overprized and bad products out there, right? And they are still selling and some of them are selling like crazy. Second: it is not Ressources, there are people out there making money from their bedroom with only a laptop or there are people just starting in our business and having immediate and sustainable success. And third: it is not that you are treated unfair by your customers or by your company. Well, perhaps that might be the case some of the times… but this treatment is not the reason for others to be more successful than you. Simply because we all get treated badly time after time, you know?

Here are the real three pillars of success and you might be surprised or disappointed. Because, even if you could label them as the three „secret“ pillars, they are obvious and so simple (but not easy) that I heard some of our colleagues say: No, that cant’t be all… But that’s it. So, let me name the pillars and then go into detail in part 3 of this article. Firstly you have to know your ideal customer. With this first point most of us fail. Then you have to offer the right solution to your customer. Again, if you fail in Step 1, this will be not achievable for you. And third: you will have to go where your clients are to sell this fitting solution to them. Yes, Sales is our job. And it’s a very important job, because we cover risks for our customers, risks they don’t want to cover or take themselves. For the complete sales process, beginning with the identification of the ideal customer up to the point where to find them, we offer you laser-targeted tools. If you want to take a look, go to this page.

´What is Part 3 of How To Be Successful in Insurance Sales?

Step one of Part 3: who is your ideal customer. Most of the time we see insurance agents running around (if they are still running…), trying to sell insurance contracts/products. When was the last time you saw a customer begging for an insurance contract? Is „never“ close enough a guess? Nearly no one and this applies to my customers too, nearly no one likes insurance or wants to buy insurance contracts. But they all want solutions for their problems. What these solutions might be, we will cover in Pillar two. Now we have to know…right… the problem. You only know the problem of your customer, when and if you know him/her. So the first thing you should do is to find out, what is the problem you can solve with your special product. Then you think about who might have this kind of problem. And think about this potential customer in detail: Age, Job, Interests, Marital status, Gender, Income, even hobbies and so on. The more detailed you are the more likely your success is. If you have troubles with this exercise, and I experienced there are many colleagues with such problems, do not hesitate to contact us. We love to support you.

So now you know your customer and their most urging problem. Pillar Two is that you provide a solution for this problem. And to say this clearly: An insurance contract is not a solution. At least your customer will not see this as a solution. The contract you are selling is only the vehicle for the solution… Here is an example for this: Your customers might not want to have a life insurance. But when they look at their children and think about their education, their home, their chances in life, they will recognize: „My children will need money if I am gone….“ Yes, that is the solution: you are providing a safe future with education, home and chances for their children, if they suddenly die. Btw, the only question left to ask is: „has your best friends children too?“ and so on… I hope, getting referals is normal for you. If not, just contact us here. We will provide you with every kind of training you will possibly need, also for the next pillar.

And now we come to pillar #3 of  How To Be Successful in Insurance Sales and this is all about getting the right clients for your special niche. There are three ways to generate leads for your insurance business, all of them work, together they are sales success on steorids. But all of them require that you have done step one and two before, OK? First you can simply advertise. Especially in todays world with online advertisement it is far cheaper and much much more targeted to get your leads and customers this way. With our secret weapon you can even legally spy on your competitors and on what works best for your niche. For more information on this amazing tool, click this link. Next you can go the way of attraction marketing on social media. Uuuuh…. yes I know, many failed with this. Because it needs content, consistency and concept behind this. What if you could get all of this with a proven and tested system DONE FOR YOU, so that you only need to arrange for closing those customers. And if you don’t want to close them personally it would even be possible to do so in an online process. Interested? Very good, register for our webinar on this topic here. And now imagine that you could directly address your ideal customer AT THE RIGHT TIME with way number three of our concept. Not possible? Sure it is! We are doing this every day. We are scanning the market day by day, hour by hour for customers asking for solutions in our special niche (pension schemes). And you can apply this for any insurance. Do you need much time for that? No, because a software does all the heavy lifting for us. It searches for entries in every forum of every possible platform. And it searches for phrases like: „do you know a good lawyer for….“ Cool, isn’t it? And very very affordable on top! What are you paying for your leads today? If you can get some…. Now this software also covers other topics, like reputation management for example. Indeed, you can provide for your own reputation and for new clients, that is a good deal. If you want to have a closer look at this amazing tool, just click here. And that’s it folks. Three pillars for your success in insurance sales. If you enjoyed please leave a comment and if not, just contact us and tell us what we can make better. We like to develop and grow every day. To your Success, Torsten