Making cold calls to potential clients is a crucial part of building an insurance business. However, it can be daunting to pick up the phone and try to convince strangers to buy insurance from you. Having an effective script and talking points can make your cold calls more successful.
Here are some tips for what to say during an insurance cold call:
Start by introducing yourself
Clearly state your name, title, and the name of the insurance company or agency you represent. This establishes your credibility and professionalism from the start. For example: “Hi, my name is John Smith, and I’m an agent with ABC Insurance Company.”
Ask an open-ended question
This gets the prospect talking and allows you to gauge their potential interest. For instance: “How do you currently handle your business/family’s insurance needs?” Or “Have you recently reviewed your insurance policies to ensure adequate coverage?”
Give a brief overview of your services
Quickly summarize the types of insurance policies you provide, industries you serve, or special expertise you have. This gives the prospect context for why you’re calling. For example: “At ABC Insurance, we offer a wide range of commercial policies for small and mid-sized businesses. From liability to property to workers comp, we help companies protect their assets.”
Building Rapport
Making a personal connection with the prospect is key to moving the call forward. Here are some tips for building rapport on a cold call:
Ask questions and actively listen
Asking thoughtful questions shows the prospect you’re interested in understanding their specific needs. Listen closely to their responses so you can engage with what they say. Some questions to ask:
– How long have you been in business?
– What are some of the main risks your business faces?
– Who handles your current insurance portfolio?
Emphasize shared connections
If you have any contacts, associations, or clients in common with the prospect, mention this. It establishes trust and familiarity. For example: “I understand you’re a member of the Local Business Association, as are many of my clients.”
Personalize the conversation
Use the prospect’s name, ask about their role, and look for common interests. This makes the call feel less scripted. For instance: “As a fellow dog owner, I understand the need to insure your furry family members as well!”
Transitioning to Your Value Proposition
Once you’ve built some rapport, smoothly transition the call to discuss your value proposition. Here are some tips:
Bridge from a topic they mentioned
If the prospect talked about a frustration or concern, use that to introduce your solution. For example: “You mentioned being displeased with your current broker’s lack of communication. At ABC Insurance, we make customer service our top priority.”
Reframe their issue as an opportunity
Put a positive spin on a challenge they face to position your services as the answer. For instance: “High employee turnover can make managing workers comp difficult. But we have risk management solutions to make compliance seamless for you.”
Make your capabilities relevant
Explain how your insurance offerings apply directly to their needs. For example: “As an insurance agency that specializes in contractors, we understand the risks of environmental liability and have policies to properly cover your field teams from injury to equipment.”
Explaining Your Offer
Now provide details on what you’re offering and why it would benefit them specifically. Focus on communicating value.
Emphasize cost savings
Many prospects may be focused on their bottom line. Quantify how your insurance could reduce their costs through lower premiums, bundled policies, or value-added services that decrease claims. Use dollar amounts to make it tangible.
Discuss risk mitigation
For prospects concerned about risk, explain how your insurance provides financial protection by covering liabilities, preventing losses, facilitating safety compliance, etc. Outline the specific risks you can help mitigate.
Highlight customer service
If you offer white-glove service and expertise that competitors lack, focus on this value. For example: “Our certified risk management consultants are available 24/7 to provide guidance in the event of a claim. You’ll have direct access to experts.”
Asking for the Business
The close is one of the most critical parts of the cold call. Ask for the next step while keeping the door open.
Suggest a follow-up meeting
A call to action could be requesting an in-person or virtual meeting to dive deeper into their needs and discuss options. For instance: “Would you be available to meet next Tuesday so I can provide a quote tailored to your business?”
Propose sending information
If they’re not ready to commit to a meeting, offer to email information on your insurance policies and services for their review. Then follow up later to answer any questions.
Make it easy to say yes
Remove any friction in the next steps by accommodating their schedule, sending a calendar invite, or taking care of any prep work for them in advance.
Following Up After the Call
Your work doesn’t end when you hang up. Follow up diligently to continue nurturing the lead.
Leave a voicemail if you don’t connect
Let them know you called and reiterate your interest in helping with their insurance needs. Leave your contact information so it’s easy for them to reach back out.
Send any materials you promised
Email over proposals, rate comparisons, testimonials or other materials as discussed on the call. Include a friendly note encouraging them to reach out with any other questions.
Schedule next steps if they commit
If they agree to a meeting or quote, get it on the calendar quickly while you have momentum. Then prep and show up ready to deliver value.
Adapting Your Cold Call Approach
While having a script is useful, you also need to adapt your approach based on different prospect personalities and responses. Here are some tips:
Gauge urgency level
Certain prospects need immediate solutions and won’t have patience for a drawn-out call. Adjust by promptly asking vital questions, focusing on urgent needs, and fast-tracking next steps.
Read reactions and recalibrate
Pay attention to prospects’ tone and energy level. If they seem disengaged, get to the point faster or switch up your questions. Pivot your approach based on their live feedback.
Overcome objections smoothly
Rather than getting flustered, listen closely to prospects’ concerns. Then tailor your responses to address those specific barriers to closing the deal.
Come prepared to each call
Conducting research on prospects before calling allows you to personalize your outreach and answer their questions knowledgeably. Review their website, social media, industry news, etc.
Conclusion
Successful insurance cold calling combines preparation, personalization, and persistence. Follow this framework for what to say:
| Cold Call Phase | What to Say |
|---|---|
| Introduction | – State your name, company, and purpose of call
– Ask an open-ended question about their needs – Give a quick overview of your services |
| Building Rapport | – Ask questions and actively listen
– Note any shared connections – Personalize the conversation |
| Transition to Value Proposition | – Bridge from a topic they mentioned
– Reframe their issues as opportunities – Make your capabilities relevant |
| Explain Your Offer | – Emphasize cost savings
– Discuss risk mitigation – Highlight customer service |
| Ask for Business | – Suggest a follow-up meeting
– Propose sending information – Make it easy to say yes |
| Follow Up | – Leave a voicemail if you don’t connect
– Send any materials you promised – Schedule next steps if they commit |
Adapt your approach based on prospect engagement and objections. With practice, your insurance cold calling skills will improve dramatically. Focus on providing value, not just making the hard sell. This establishes trust in your services and sets up ongoing conversations.