Selling ancillary insurance products to your group and individual clients is actually one of the easiest things you can do to help both your clients and your business. There are so many benefits to ancillary insurance. For your employer clients, additional insurance can help keep their employees happy and healthy at work, which often means better employee retention and productivity. However, the biggest benefit for everyone is that ancillary insurance is used to supplement their standard healthcare coverage.
Health insurance is not the answer to every problem. More often than not, it doesn’t cover a lot of preventative services, like dental and vision health, or emergency/long-term care, like accident, critical illness, and disability insurance can.
The problem is right there in the open. It’s your job to pinpoint what kinds of coverage your clients need and solve those insurance gaps with ancillary products. Below are some of our tips for helping you succeed.
Why Selling Ancillary Products Matters
Selling ancillary insurance to your group and individual clients is great for both them and your business. Since these types of additional insurances tend to supplement health insurance, this allows your clients to get the coverage they need. Moreover, there are several other great reasons for your group clients to offer insurance to their employees, including employee retention and productivity as mentioned above.
For you, selling ancillary products can make you sticky with clients. Briefly, stickiness refers to how well you resonate with clients and how much your clients “stick” with you. Every aspect of your business relates back to stickiness, but by selling ancillary products to your clients, you can directly influence stickiness by adding more value to you and your business. You will not only provide your clients with a solution to their healthcare problems but also act as a one-stop-shop that allows them to have one go-to person for all their insurance needs. This gives you a higher chance of retaining clients for longer and gives you a wider pool of potential clients.
Sales Tips to Make Selling Insurance Easier
How do you do this, though? How do you develop stickiness and find the easiest ways to sell ancillary products to your clients? It’s no secret that people are more likely to add additional insurance to their coverage if they trust their agent and the products. Here are a few sales tips that you can easily implement in your business to help with both developing stickiness and trust with your clients.
Know Your Plans & Products
To be good at sales, no matter the product, you have to do your research. You have to understand every aspect of your products so that you can confidently talk about them, and you have to understand the businesses and individuals you’re talking to. What do they do; what do they need; how do they make decisions.
Understanding how your individual clients think and how your group clients’ businesses work will help you every step of the way. It will give you insight when building relationships and solving problems. Also, not every employer or individual knows about the benefits of ancillary products, so it’s your job to keep them informed.
Build a relationship
Your clients, both employers and individuals, want to know you have their best interest at heart. Building a relationship is a key step in making a sale in both situations. Be sincere, ask the right questions, and listen to the needs of your clients. Building a genuine, stable relationship with your clients now will help you help them and keep them as clients for years to come. The good news is that you’ve already done the hard part in the case of ancillary products. You’ve already found clients that need health coverage; your next step is to pinpoint their needs and find ways to fill the gaps with additional insurance.
Solve a problem
The best products are ones that solve a problem. The difference between terrible infomercials and a great agent, however, is that your true goal shouldn’t be to simply make a sale. Employers and individuals alike want their problems solved without having stiff pitches thrown at them. Don’t focus on selling a product, focus on selling yourself, along with your ancillary products, as solutions to their health insurance problems.
Be personable and concise
One of the biggest differences between employer and individual clients is how they want to be sold to. Employers are busy people and want your pitches to be short and sweet, while individuals are more likely to enjoy having genuine conversations about their lives and interests. However, in both cases, being sincere and friendly is important, as well as avoiding robotic pitches. Be transparent, while also ensuring your clients that you’re tailoring the coverage to their exact needs.
Selling ancillary insurance products shouldn’t be difficult, especially if you have a relationship built on mutual trust. The advice above is just a few ways to better sell additional benefits to your group and individual clients. Keep in mind that everyone is different and you should have genuine, personalized experiences with each of your customers and potential customers. You’re the expert here and you can solve their problems. Your clients will benefit from additional insurance products, and your relationship will strengthen all the more, which in turn, will help your business.
AgentLink is here to help you provide the best service to your clients. If you want more information on selling ancillary products to employers and individuals download our guides:
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