Let’s be real—insurance and risk management prospects can be a tough crowd. They’ll throw objections at you like, "I need a bid to keep my current agent honest," or "I need to talk it over with my partner." And if you’re not careful, you’ll find yourself stuck in an endless cycle of proposals, emails, and follow-ups with nothing to show for it.
But here’s the kicker: Many agents fall into the trap of working on bids without any real chance of winning. The result? Wasted time, stress, and frustration.
So today, we're diving into how to tackle objections head-on using Beyond Insurance strategies that change the game.
Objection: I need to discuss this with my business partner/spouse.
Translation: They’re not ready to make a decision. But that doesn’t mean you should let the conversation fizzle out.
1. Offer a Joint Meeting
Instead of waiting, suggest a meeting with all stakeholders to address questions and concerns in real time. This positions you as a proactive partner.
2. Provide Decision-Support Materials
Give them easy-to-digest materials that highlight key points and address objections. A concise document can make their decision process smoother.
3. Set a Follow-Up Date
Don’t leave things open-ended. Lock in a specific time to reconnect and continue the conversation, keeping the momentum going.
By facilitating their internal decision-making process, you stay top-of-mind and in control.
Objection: Keeping the Incumbent Honest
If your prospect says, "I just want to keep my current agent honest," shift the focus from price to value.
Provide a Risk Assessment
Instead of engaging in a bidding war, position your services as an opportunity to provide a comprehensive risk assessment that offers deeper insights than a simple quote.
Educate the Prospect
Teach the prospect the importance of proactive risk management, rather than reactive price shopping. By demonstrating how a thorough evaluation can uncover hidden risks and provide tailored solutions, you can shift the conversation from transactional to consultative, helping the prospect see beyond just comparing premiums.
Avoiding the Trap: The Prospect Criteria Filter
Too many producers waste time chasing opportunities that were doomed from the start. To avoid falling into this trap, you need to determine the rules of the game.
Use a Prospect Criteria Filter:
- Green Light (Go): When three key criteria are met—strong need, decision-maker access, and openness to change—you’re off and running.
- Yellow Light (Caution): If there are hesitations, conduct deeper due diligence before investing time and resources.
- Red Light (Stop): If the odds of winning are below 50%, it’s time to walk away and refocus on higher-quality leads.
Applying this filter ensures you’re spending your time on prospects who are more likely to convert, boosting your success rate and reducing wasted effort.
Final Thoughts
Winning in insurance sales isn’t just about pitching policies—it’s about controlling the process. By proactively addressing objections and filtering out time-wasting prospects, you’ll close more deals, reduce stress, and focus on clients who truly value what you bring to the table.
So next time a prospect stalls or resists, remember: The right strategy can turn skepticism into confidence.