How Insurance Brokers Can Effectively Sell During Covid-19

The ongoing Coronavirus pandemic has had a massive negative impact on virtually every business, including insurance brokers. It is not business as usual, and many businesses are finding ways to stay afloat. It is perhaps the best time for shrewd businesses to turn the crisis into an opportunity. As an insurance broker, you will also need to find creative ways to connect with your clients and continue to make sales amidst this crisis. Let us look into some of the ways you can effectively sell during Covid-19.

Share regular updates, maintain the relationship

We can all unanimously agree that it can be easy to be forgotten during such a pandemic. Many are trying to adjust to the changing times. So, not many people have time to remember what you were selling or offering. Therefore, you must take the lead and try to maintain conversations with your clients. Send them regular updates, offering real-time responses with context and clarifications on new developments. Be creative in your communication, though. For example, educate them on how the pandemic affects them, what they should do, covers they should take, etc. Keeping in touch might create new opportunities and generate sales for your business.

Go virtual

As an insurance broker, your work involves moving around to convince people and turn them into clients. Sadly, for many people, movement was curtailed during the pandemic. However, that does not mean you stop trying to sell. How about you transition to virtual? You can move your corporate meetings that show your products online. Create a platform where someone would be sitting at home and have the same experience as a physical meeting. You can also join in on virtual events to build awareness about your services. This way, you will keep the business going and find new leads.

Use cutting-edge technology to increase sales

It is true that technology comes with a cost, but then again, there are many great reasons to adopt technology during challenging times. While you might not acquire everything at once, you can begin by finding affordable apps or software to help you make sales. For instance, you can use a tool like Covve, a smart personal CRM app, to create business opportunities for your insurance service. This tool will help you create and share business cards, keep your business contacts organized and stay updated on your potential customers. It has an excellent News engine that sends customized news alerts affecting your contacts or clients.

Is your prospect perhaps launching a new product in the market? Well, Covve can help be the first to spot the opportunity to sell. For example, you can pitch covers in product liability, deterioration of stock, etc.
The tool can also help you create and keep tabs on key notes regarding prospects to help you cross-sale, upsell and close deals!

Hot Tip: You don’t need to invest in expensive tools as you try to stay afloat during Covid-19. Go for affordable tools that will help your insurance business navigate the storm.

Find hot opportunities

Another great way to make sales as a broker is to tap into the myriad opportunities spawned by the pandemic. Why not change tactics and look for business in industries that are currently booming? Well, some industries have had a blessing in disguise with the pandemic, including home fitness equipment manufacturers, grocery delivery services, meal prep services, industrial and workplace cleaning services, etc. Such industries will likely have a good cash flow at the moment and are likely to need insurance programs. Use Covve to find people from your network that work in these industries and reach out to them. The smart address book app will also send you News affecting these contacts so you can keep track of how their business is going and quickly identify selling opportunities.

Wrap up

In every crisis, there is an opportunity. As an insurance broker, your opportunity might be in the businesses sprouting due to the pandemic. That said, you ought to find creative ways to pitch to new prospects and use cutting-edge technology to maintain and increase your current customer base.

Download Covve for free for iOS or Android and start closing deals!

Written on 04 Dec 2020.

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