How Selling Insurance in 2021 Has Changed

DeWell
DeWell "Butch" Clay
Published on May 14, 2021

How insurance sales are changing in 2021

Following the uncertainty of last year, many consumer buying habits have changed, including purchasing insurance. In 2021 and beyond, insurance agents need to change their sales tactics accordingly to keep up with customers’ expectations. Selling insurance has changed, and you’ll need to follow suit if you want to boost retention and close more leads.

⦁ Focus on the Basics

Recognizing the importance of healthcare and retirement planning, Americans value agents that explain how coverages support individual needs. Developing trusting relationships with policyholders creates the foundation for all of your other sales efforts while maximizing the lifetime value of each customer.

Many shoppers search for answers online and find you through technology, but only you, as an advisor, can lead prospective policyholders to make the most informed decisions. Leverage your skills as an agent to recognize where a policy seeker is in their buying journey and direct them to the coverage that could be most beneficial to them.

Breaking down the jargon, explaining coverage applications, and taking a consultative approach further establishes your credibility. Remember to listen and respond to your customers with compassion and understanding.

⦁ Accelerate Digital Adoption

Although many seniors still prefer face-to-face and direct communication channels, insurance agents still need to bridge the physical and digital divide to avoid alienating customers. Up to 90% of seniors are using Smartphones, and an increasing number are using technology to access healthcare services.

Many of the most successful agencies leverage omnichannel interactions with potential policyholders. Online communication is especially critical since the onset of the pandemic when social distancing accelerated virtual solutions.

Ideally, your insurance agency will leverage a digital platform that unifies your online interactions in one convenient location. You can automate many processes such as marketing, lead generation, and quoting to streamline your services. Besides offering a more unified brand experience, you’ll benefit from detailed analytics that provides valuable insights into customer buying behavior.

⦁ Hyper-Personalize the Customer Experience

Targeted marketing campaigns are essential in 2021, especially in saturated markets. Reaching the right individual with the right offer and the right time can make the difference between making a lifelong customer or losing one. Many insurance agents are leveraging technology to differentiate their services from the competitors using hyper-personalization tactics.

Each individual is unique and assembling the most comprehensive coverage package requires thoughtful attention. Understanding your customers’ needs takes time, dedication, and planning. By combining the data you collect interacting with policyholders and third-party information online, you can develop more meaningful relationships.

For example, if a policyholder experiences a significant life change, such as entering retirement, you could respond with a relevant offer. Use this opportunity to invite the individual for a free consultation where you may introduce them to a suitable product such as a long-term care plan.

⦁ How American Senior Benefits Can Help

American Senior Benefits offers a holistic and highly professional approach to boosting your senior insurance sales. Your senior policyholders benefit from a full array of retirement services that include:
Life Insurance
⦁ Medicare Supplement Plans
⦁ Long-Term and Short-Term Care
⦁ Retirement Planning
⦁ Annuities
⦁ Specialized Coverage

We serve each policyholder with the compassion, integrity, and personalized service they deserve. Learn more about selling insurance in 2021 from the professionals at American Senior Benefits. We look forward to answering your questions.

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