Get to the Point You Should

Get to the Point You Should: Yoda’s speech may be indirect to prove a point, but if we are searching for answers, we need to get to the point much quicker. Consumers don’t want to hear a lengthy speech on why they need additional lines of coverage. They want to know the price and the reason. Your job is to ask the right questions to help your clients discover those reasons.

Want to open doors to additional lines of business? Use the question, “What else?”. “Mrs. Jones, you have a home and two autos, what else?” “I also have a barn and 30 acres.” “Mrs. Jones, what do you use the barn for?” “I use it for my horses and a tractor.” “Mrs. Jones, what do you use the tractor for?” “We cut hay every year for extra income.” “Okay, and what else?” “Hum, and I also have vacant land that adjoins the property on the east side.” Okay, and what else?” “A diamond ring, from my husband worth nine grand, should we cover that too?”

In a couple minutes we went from writing Mrs. Jones a home and auto policy to incidental farming, increasing liability coverages, and an inland marine policy among other lines. At this point we are not even done asking Mrs. Jones questions, and had you not asked, “What else?” think of what else you would be missing. Think of the risks she would be exposed to without your additional questioning. Now comes the fun part. It’s her turn to ask you a question. “Why do I need this and what’s the price?”

Although we’d like to think that we retain more information than we do, science tells us we don’t. So, if you just explain something to her and send her out the door, chances are, she will forget, look at her future bill and call you telling you she no longer needs those additional lines of coverage. Then you will have wasted much time and effort. If Mrs. Jones is to truly understand the reason why, you’ll need to lead her to the rights answers. You’ll need to lead her by again asking the right questions.

“Mrs. Jones, what if someone should fall off your horse or tractor?” “Can you afford their medical bills?” “Mrs. Jones did you know that your current homeowner’s policy only covers up to a certain limit on jewelry?” “Mr. Jones, how would you make up that extra income from your crop, should we have a major drought?” The answers are right in front of her, you just need to ask the right questions so she can identify them herself. Too many times we think we are making a point by providing a lengthy speech to our customers on coverages. They’re always nodding like they understand, but at renewal what do they do? They call us and cancel the additional lines due to premium. Our speech taught them nothing, not because you didn’t do a good job, but because they didn’t retrain any of the information. I’ll get to the point. Ask the right questions and your customers will identify the right reasons for coverage. - Michelle