We have all heard the term “low-hanging fruit.” In the insurance business, it’s those customers who are relatively easy sells. But it can be easy to lose sight of these easy targets as we busily go about our prospecting tasks to find new customers to cold-call. In this article, we give you two examples of easy prospecting opportunities that you should always have on your radar.
So what do we consider “low-hanging fruit”?
The first, and best example of low-hanging fruit are call-ins.
For instance, Mrs. Brown calls in because she wants an Auto quote and she also rents a home. EASY… She called you and you get the opportunity to quote an Auto and a Renters policy!
Call-ins to the Agency are easy prospecting opportunities; nice and low on the prospecting tree. Grab them and do not give them back.
The second example of low-hanging fruit is the customers you have quoted in the past. For whatever reason, when you first quoted these people you weren’t able to lock them into a policy at that time. Maybe it was the premium was more than what they currently pay, they were not qualified through underwriting, or they were not able to see the value in what you were offering them.
So now what happens to those prospects?
Every Agency keeps (or should keep) a master list of quoted policies, quoted customers, and prospects that they were unable to write. Within this database, are hundreds of quoted, not written opportunities! This means unlimited follow-ups and a great way to grow your books. These are people that your Agency has already spoken with, you have had conversations and they KNOW your Agency!
So what is the best way to approach the people on this list?
Here is a simple word track to follow when making your initial call:
Hello Ted, this is Nicole. I am calling from ABC Insurance Agency. I spoke with you about a year ago and I said I’d follow up. Last year we were unable to write your Auto and Home insurance but GREAT NEWS! We just took a rate decrease across the board and I believe we are in a great position to help you this year. Do you still live at [insert address] in Sunnyvale, New York?
First, acknowledge you spoke with them previously.
Next, state why you are calling back (in this case, a rate decrease that could help them).
And then, with no pause or hesitation, lead right into confirming a bit of information you have from your previous interactions (in this case, their address).
In doing this, you give them very little chance to object at this stage.
Another simple question to ask is confirming their birthday: “Your birth date is xyz correct?”
Reach out and re-introduce yourself. Let them know you had a prior conversation and share that while you were not able to help before you really think you can today! Frame your script around all positives.
- We have had a rate decrease
- We have a better protection plan
- We are here for you and your family
- We want to offer you the best protection possible
This strategy is an uncomplicated way to reengage with a warm list of people who are easy prospecting opportunities for the Agency.
Organize your Quoted-Not Won list in a way that works best for your Agency. A common approach is by expiration date with a 6-month touch base plan. The most important part is the FOLLOW-UP. From experience, you will eventually win over that customer and in turn, write their business.
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Read More: Check out this post for an easy question to get referrals
