Selling Insurance With A System
Developing An Insurance Selling System
Many marketing gurus today are preaching that success in selling comes easier with systems. That is especially true in selling insurance. Most insurance producers today consist of small 1 or 2 man practices who attempt to wear far too many hats. The producers primary responsibility is to generate revenue income for the practice. However, many times the producer is burdened with too many responsibilities as the marketing guy, the sales rep, secretary, underwriter, customer service, etc. It’s too much for 1 person to juggle.
I’ve read that most insurance producers spend 85% of their time doing administrative tasks, and only 10%-15% actually talking to prospects and selling insurance. This is not very productive.
How can systems solve this dilemma? First, let’s define exactly what a system is. The text book definition is explained as follows,
system: any formulated, regular, or special method or plan of procedure.
Said another way, a system is a set of identifiable tasks that are typically repeated for each sale regardless of the customer. Once identified, these tasks can then be organized and documented as a procedure. Thus, the beginnings of a system.
The nice thing about setting up systems is that once organized and documented, they can then be delegated to someone else, thus alleviating the load on the insurance producer.
In my own practice, if I can create sytems to handle the burdensome administrative tasks, I’m convinced that I can increase my sales production and commission income. By freeing up more of my time from doing repetitive administrative tasks, I can focus on how to get more prospects who want to discuss their insurance needs.
The most common reason coming from producers like myself for not hiring an administrative assistant is that it takes too much time training a new inexperienced person for the job. Documented systems solve that problem. Once created, a system becomes a blueprint for an assistant to follow step-by-step.
I will certainly be identifying and documenting my first system this week. If you are a producer, let me know your thoughts.
