How to sell commercial insurance
By Leana Schwartz, Independent Commercial Insurance Agent
The word “selling” tends to have negative connotations, akin to a salesman extolling prospective buyers about the virtues of a used car.
Selling commercial insurance is much more than a simple pitch to sell a product. Instead, it is more about understanding the unique needs of a business and working with the owner, managers, and other key stakeholders to identify and develop insurance solutions that support functional requirements, operational goals, and financial considerations.
What is commercial insurance?
Briefly, commercial insurance protects business owners against potential loss due to property damage or loss and/or liability. Property coverage protects buildings and their contents, such as inventory, fixtures, and equipment. Liability coverage guards against actions of the company or its employees that result in losses to other parties. For owners and operators of businesses of all types, commercial insurance is a necessity to protect their investment and interests.
Insurance agents are counselors and consultants, not salespeople
Most commercial insurance agents will agree that prospecting and closing a client is a tremendous challenge. In order to successfully sell commercial insurance, an agent must have a high degree of self-motivation, the capacity to learn and retain extremely detailed information, and the perseverance necessary to grow from simply selling a product, to taking a holistic approach to solving business problems for clients.
Excelling in the commercial insurance business
The commercial insurance industry is highly competitive and subject to changing market conditions. Top commercial insurance agents must be comfortable and confident working in a dynamic and fast-paced environment. In addition to being well-versed in insurance industry concepts and terminology, they must also be proactive, great listeners and communicators, and able to demonstrate to clients their knowledge and desire to help them succeed.
The NHC team
We strive to provide the best possible personalized attention and care to each and every one of our clients. By remaining abreast of new developments and legal changes in the commercial insurance sphere, we have positioned ourselves among the top insurance industry thought leaders.