1. Get your insurance license
Your state is responsible for issuing licenses. Every state is different and has different sets of requirements, so check with the department of insurance to get all the details for your area. You will (most likely) be required to:
- Submit a background check – The department of insurance wants to see that you’re a responsible person, both legally and financially
- Choose a specialty – What kind of insurance would be the best fit for you to sell? Many new agents want to try selling everything all at once, but the wisest thing to do is become prolific at one and then branch out later
- Take a pre-licensing education course – You will have to spend a certain number of hours in the physical classroom or online learning all the ins and outs of the insurance business
- Take the test – Once you’ve completed the education and submitted the proper paperwork, it’s time for the rubber to meet the road – pay to take your test, pass it, and then you’re ready to go!
2. Set up your home office
A home office can cut overhead costs and doesn’t have to be extensive. However, a home office does have its downsides. You’ll need to consider your family and pets. Once you have a designated workspace, a few pieces of tech, a desk and a chair, and some solid structure, running your business from home should be a breeze. You’ll need a dedicated land line and a phone, possibly with a headset for easy transitions between calls, a computer with an internet connection, and a positive outlook. Now would be the time to consider using a few different software options – a CRM and a power dialer could infinitely increase your call volume and improve your customer service goals.
3. Be organized
Having a messy desk, allowing constant interruptions, not being professional on your phone calls can all be categorized under a lack of organization. Take the time to settle and structure your world accordingly before you even start making phone calls. If you know you need help in this area, consider finding the tools that will help, whether that’s a planner, a tablet for notes, a daycare center, an auto-dialing software to help you plan call campaigns, resources to read on home businesses, etc. You may need a little while to figure out what works and what doesn’t, but your clients will benefit the most from having an agent who is organized and confident.
4. Prepare yourself
While an insurance job can be fruitful enough to justify the work, starting operations from scratch is not an easy task. And unfortunately, because we live in the fast-paced day of online quotes, PPACA issues, technological failings, and negative connotations against insurance sales of any kind, you need to prepare yourself for some rejection. You can’t take rejection personally – you’re working in a world where you’ll hear ‘no’ a lot more than ‘yes’. And remember – a ‘no’ doesn’t have to be permanent. You can always make a second attempt.
5. Get the leads you need.
Whether you buy them, get them from other salespeople, or do a lot of cold calling, getting the right leads is a necessity. Not every lead is for you – it’s tempting to try them all, but you want to focus your time and energy on the leads that fit your product.
6. Customize your pitch.
To get some of those good leads, you should have an informative, interesting pitch already customized for your potential customers. It’s a fine balance between being aggressive and keeping things personal. Take some time to practice your pitch before you start making calls – many successful agents started with a mirror on their desk so they could practice their pitch – not only to hear what it sounded like but to see their face and their demeanor when saying it as well. Practice makes perfect!
7. Listen and ask questions.
Especially if you’re just starting out as an agent, listen and to ask your potential leads a lot of questions. You need to know what they need, not just what you want to sell them. Asking questions is the best way to build a good rapport with someone – it shows that you want to earn a business relationship, not just a quick sale.
8. Get ready for objections
Choosing insurance of any kind can be stressful, and your customers may have valid concerns. People hesitate to make big decisions and will make excuses as to why they aren’t ready to commit, but if someone is willing to voice their objections over the phone, that means they’re really thinking about it. If they didn’t have any interest at all, they’d hang up the phone without a second thought. Objections are possible selling points – stay attentive and don’t try to ‘wing it’ because, even over the phone, the caller will see right through it. Be prepared for whatever objection they throw at you with sound, well-thought-out answers and be ready to offer them solutions.
9. Evaluate the good, the bad and the ugly
When most of your business is done over the phone, even in a home office setting, it can become mundane and routine. Take some time to periodically evaluate your successes and your failures, even if that means recording calls to assess them later or finding a long-term, successful salesperson to help you. It’s better to recognize your weaknesses and make changes in your sales tactics than continue to pursue the wrong things. This is also where a power dialer comes in handy because you can review summary reports, usage reports, review call recordings, and more.
10. Commit to follow-up
Whether you’re able to automate your follow-up with CRM software programs or you set up a system of contacting clients regularly and in a timely fashion, you need to take follow-up seriously. A potential customer will appreciate your attention to detail, your personal touches, and your desire to build a long-standing relationship. If you’re looking to start your home insurance business, contact us at Call Logic. We have developed an easy-to-use, advanced auto-dialing system to help you contact more leads and customize your side of the sale, all while being fully TCPA compliant. Schedule a live demo today!