Improve Your Insurance Agency’s Cold Calling Strategy | Broker Blog

In many ways, the internet has changed how our industry does business, but one thing that will always be relevant in insurance sales is a call.

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Published: 04.05.2024

In many ways, the internet has changed how our industry does business, but one thing that will always be relevant in insurance sales is a call. Whether we like it or not, it’s one of the best ways to get in direct contact with a prospect.
 

What is cold calling?

Cold calling is when a salesperson reaches out to a potential customer or client without having previous contact with the business or individual.
 
Calling prospects remains an effective tactic as part of a strategic campaign for brand awareness and when used together with digital collateral. When it ultimately comes down to choosing a new benefits broker, many employers and HR professionals are looking for personalized assistance to address their business’ unique insurance needs.

When done correctly, your agency can build a pipeline of potential customers for your employee benefits brokerage that can increase your business’ bottom line.  Check out our insurance lead generation cold calling tips below and take your business to the next level.
 

Research Before Dialing

Take advantage of all the data readily available and at your fingertips when prospecting. A quick Google search on the company and the person you’re calling before dialing will give you a head start on getting to know your potential customers. You also can visit LinkedIn to gain insights and learn more about the company and see if you have any connections in common. You want to know who you are talking to and understand what they do at the company, so you can quickly address how you can help them.
 
Don’t forget to look at the company’s website—familiarize yourself with the industry and identify what other groups in this space you may work with as well. This will allow you to anticipate the needs that this customer may have.  

Another website to utilize is Glassdoor where employees from the company can leave reviews on salaries, positions and benefits. Use this website and similar sites to find strengths and weaknesses that you can provide employee benefits solutions to.
 

Prepare Talking Points

Whether you or your someone on your team is making the calls, your agency will benefit from creating a script of key talking points that can easily be tailored based on the client’s area of interest and business needs. This will help keep calls consistent and on point. These insurance sales scripts can also be used to easily train and onboard new members of your sales team.

A basic outline of the script should consist of:

1. Introduction – introduce yourself and your company.
2. Open-ended Questions – select some discussion questions to gain more in-depth information about your prospect and the problems they face.
3. Your Elevator Pitch – A quick summary of how your services provide solutions.

When you make these cold calls, keep a list of all the rejection reasons you receive. You can use this data to create scripts for common rejections for your team and how they can redirect discussion points. 
 

Engage Your Prospects Through Other Channels

Yes, cold calling is important, but it should not be your only way of reaching potential customers. If you can’t initially reach a prospect through phone calls, try reaching out to your insurance sales leads through other channels. LinkedIn, email or text messaging are all great ways to connect with a prospect—and when combined together, you may have a stronger chance of engagement.

LinkedIn is a free resource for your sales team to engage with prospects. Not only can your team use LinkedIn to research insurance sales leads, but it’s also a channel to connect with them. Send a connection request with a quick note explaining what you do and how you can help solve their current pain points.

Use Every Call as an Opportunity to Learn and Experiment

Use cold calling as a tool to experiment with different insurance sales strategies. Craft openings or talking points based on employer group size, location, industry, etc. Don’t forget to track what is working and apply it to future calls.

What types of insurance prospects are you having the most success with? Tailor your leads search to find companies that meet these criteria.
 
Each cold call can be used as a learning experience that will not only help your employee benefits agency marketing and communications strategy but also give you insights into your overall business plan and product offerings.
 

Enhance Your Insurance Agency’s Cold Calling Strategy.

As your general agency partner, Savoy can assist you with putting practices in place to increase your agency’s insurance sales leads and provide strategies to attract new employer groups and clients. 

With more than 39 years' experience, Savoy offers tools and resources that have the power to advance your career and give you the competitive edge you need.

If you would like to learn more about our latest resources, technology and products contact your Savoy Sales Team.

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