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A recent article in a national training magazine used "insurance" as an example of a commodity sale. Do you agree with that? Is insurance a commodity? Do you sell it that way? Should it be sold that way? How do your insureds and prospects view it? In this article, the IIABA Faculty explores some of these issues.
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The international insurance market offers a variety of benefits to independent agents and brokers. It provides a perfect tool for solidifying your Commercial Lines accounts and insulating them from inroads being made by alphabet house brokers. International insurance operations also offer an entree to new product lines and markets that will expand your facilities abroad. For example, U.S. agents can introduce their expertise in such lines as Auto, Medical, Surety, and Workers' Compensation to third-world countries that are privatizing these coverages. Canadian brokers can expand their expertise in out-of-country private Medical insurance and, potentially, Workers' Compensation.
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The difference between closing a sale and losing it rests with the presentation. Whether you’re selling a product or an idea, the ability to present effectively is the difference between acceptance and rejection.
Yet, most Americans would rather die than give a speech. Whatever the facts, the idea of standing in front of an audience ranks far below going to the dentist for most people.
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Sometimes I think that the best thing that could happen would be for someone to take away the computer printer. Why? Because, every time I send an E-mail out to a large group, a third of the group will print the message even before reading it, a third will read it and then print it, and only the last third will simply read and delete it.
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In the next few years, you'll probably be devoting more time and resources to Life and Health insurance products - that is, if you're at all like the estimated 2,000 independent agents who participated in the "Future One Agency Universe Study."
The study shows that independent agents are increasingly aware of the need to be full-service insurance providers. Agents who have traditionally focused on Property/Casualty insurance see the need to expand more aggressively into Life and other types of insurance products. In fact, slightly more than half the agencies surveyed said that over the next three years, they'll devote a higher proportion of agency resources to Life and Health products.
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All producers know that overcoming objections is part of the selling process. However, many forget that making objections is just as intrinsic to the buying process.
To identify the root causes of objections, producers should put themselves into the buyer's shoes. You also buy in your personal life, so use your own experiences to sharpen your expertise.