Your Best Resources for New Business

Now into the new year and as we move into tax season, it is the perfect time to stir up new insurance business among your own client lists.  Believe me, there are plenty of potential sales and premiums awaiting you in those files.  Familiar names and faces make for great clients, repeat customers and excellent referrals.

Make a diligent effort to review the insurances owned by your clients and to request a meeting, to get back in front of them so you can illustrate where their coverage may be lacking or even non-existent.  It doesn’t matter if they are medical, business, disability or life insurance clients; getting a fresh chance to pitch them and show them that you care and may be concerned about their financial protection is what’s most important.

Here are some points to keep in mind while prospecting amongst your own clientele:

  • Don’t feel like you are imposing on your clients’ time.  Yes, many of them might be busy business professionals, but your goals for their financial needs are very important and could be life-changing economically.  You are an expert in your field and your guidance is imperative to the financial protection of your clients’ families. 
  • You’re not a faceless, cold-calling salesperson out to make a buck.  You know the personalities behind the names in your files.  You have proven yourself to them in the past, and they have previously chosen your services.  They should be more inclined to trust that you can help once again.
  • Refer to current events to get yourself back in the door like rising interest rates and how it is affecting insurance and financial markets.
  • Use hot-button insurance topics like guaranteed-issue and excess disability insurance or changes in healthcare regulations to drive renewed interest from your clients.  Show them that you are on the cutting edge and have access to the most progressive of insurance products.  You have fresh, exciting ideas that will further secure their lives.
  • Don’t hesitate to cross sell.  Now may be the opportune time to prescribe key person or overhead disability coverage to your personal life clients.  And vice versa, introduce your disability clients to key person life insurance and loan indemnification.
  • Be sure to up-sell.  Most Americans are underinsured when it comes to life and disability coverage.  As an insurance professional, you owe it to your clients to familiarize them with the inherent risks of not having at least 65% to 75% of their income insured as well as having sufficient levels of life insurance to protect not only their loved ones, but also their businesses.

The best leads can be found amongst your current clients.  You are probably already familiar with much of their financial, health and social backgrounds, and these prospects know you.  As long as your previous interactions were successful, you should have a downhill journey to making more business come from these comfortable relationships.