Policybazaar is India’s Largest Digital Insurance Marketplace. As one of India’s premier fintech brands, the company is venturing into the PoSP model of business to tap tier-2 and tier-3 cities. We are thrilled to welcome our agent partners as they take on this new career.
Here are a few tips to help PoSP agent partners be ready for their exciting journey ahead. Follow these easy-to-use insurance sales tips to be able to sell insurance with expertise:
1. Benefits before features
The most important thing while selling insurance is to showcase its benefits. Hence the focus should be on why the product fits the customer’s needs directly, before diving into the additional features of the product.
2. Patience is a virtue
Convincing prospective customers could be a challenge for PoSP agent partners. The correct approach is to be patient and explain the respective policy benefits to your customers while they make their decision. It is essential to give your customers the space to think & breathe.
3. Forging a connection
Forming a bond with customers is one of the oldest tricks in the book. The idea is to trace some common link that binds you and your customer on the same page. As a general rule of human behaviour, a common link makes two people resonate better and helps in long-term brand loyalty. It could be a common interest in a popular T.V. show or the fact that you two are from the same city, etc.
4. Wearing your success
No one puts their faith in a person coming across as a dull professional. It matters greatly to your prospective customer how you appear when you go to meet them. As a Partner, your body language and attire play a crucial part in building your professional appearance. With a sharp dressing sense, you are bound to be taken more seriously.
5. Introducing transparency
Nothing attracts customers more than transparency. As a PoSP agent partner, your job is to provide clarity, transparency, and conciseness regarding the coverage, benefits, and potential risks of the policy. Refrain from concealing any features or product restrictions. It’s the responsibility of the PoSP agent partner to present all the information so prospective customers can make an informed decision.
6. Harboring respect & admiration
Not having all the answers to your customer’s questions is okay. That’s why all PoSP agent partners need to prepare themselves fully before a meeting. It’s a time-consuming process but soon it starts to pay off and your awareness about the product at hand increases significantly. So if you find yourself in such a situation, struggling with a customer’s question, be sure to provide them with the answer from someone who knows. Practices like these harbour the respect and admiration of customers.
7. Establishing your brand
In a competitive sector like insurance, it’s crucial to set yourself apart. Hence, PoSP agent partners are advised to consider themselves a brand and act accordingly with their customers. This includes everything from how you carry yourself to your behaviour, and from your punctuality to your linguistic tone. With the rise of technology, it’s also become necessary to use resources like LinkedIn, etc., to set up your brand digitally.
8. Resonating with customers
In a time where everyone has something interesting to say, there are very few listeners. Listening not only allows you to get a deeper insight into your customer but also assures your customer about your credibility. Developing a habit of active listening goes a long way for you in spotting exactly what your customer needs.
9. Experiential learning at work
One of the key factors about humans is that they are capable of adapting continuously to their environment. Hence learning from experienced co-workers is the easiest way to go about things as a new PoSP agent partner. Being inquisitive about queries and being open to helpful criticism not only benefits you but your customers as well. Persistence is the key to being successful in the insurance domain. Lastly, it all boils down to how well you manage the expectations of your customers.
10. Careful Documentation
Verify the details of your customer in important documents like proposal form, etc. Be sure to check and confirm their correct name, age, date of birth, beneficiary name and other mandatory information. These details are very important and must be filled in carefully.
