Educating and advising clients

| 21 Mar 2022

For the average customer, insurance is complicated and confusing. In most cases, your potential client is not familiar with the types of insurance available and how to identify the ones most appropriate for them.

But they do know that choosing the right policy with the right company is an important decision.

Insurance is not a quick sell. As it is an intangible product, the customer needs to have confidence that when it is time to file a claim, it will be honoured. Hence the credibility of the seller is critical.

This is where you have to take on the role of an educator and advisor.

When you invest time and effort to help the potential client understand how the insurance works and you show genuine interest in their specific needs, you will achieve two things: First, they will recognise that you are an expert in the type of insurance you sell. Second, when you take an interest in them and their needs, it helps to develop trust.

Keep it simple

Look for ways to explain the insurance options and terminology in plain language. Give them a simple explanation and use questions to probe and find out what insurance coverage they really need.

Assume that if you guide them, offer good advice, and are supportive while they are trying to make sense of what they need, their confidence in you will grow. This is especially true for personal insurance products.

It will take time and effort to position yourself as an advisor and educator to your potential client. But if you do this from the beginning of your relationship, it will help you gain (and retain) the confidence of your prospects.

Tell a good story

Practise your storytelling skills to build a positive emotional connection with the potential client.

For example, someone who sells life insurance has probably had the experience of giving a cheque to a family in need that allowed them to stabilise their lives.

Or share a story of an insurance agent who had the experience of handing a life insurance pay-out to a family in their time of need that allowed them to tide over a difficult situation.