With more and more people becoming health conscious, selling health insurance has become incredibly competitive. Even the best of agents might find it tough to sell their products to customers who are always switching their health insurance plans.
As a health insurance agent or broker, you have to do everything that you can, to keep your existing customer base satisfied. You can’t keep making the same mistakes that the other insurance salespeople are making if you wish to build a strong business.
That said, here are a few common mistakes that insurance agents often make while selling health insurance:
Not Taking a Proactive Approach Towards Renewals
Keeping a watchful eye on the renewal dates of your customers’ health insurance plans is crucial. They have plenty of options available if they wish to change their provider. If you are not alert enough to get in touch with them within time, they will make the switch before you even know it. Assess the requirements of your customers and get in touch with them before it is too late. Give them a reason to choose you over others. At the same time, make sure you give them enough time to evaluate their options before selecting their next year’s health insurance plan.
Prioritizing large companies over the smaller ones
Every sale counts when it comes to health insurance. Large companies do bring in more revenue, but small companies give you money too. Who knows, they may even give you some important contacts if you offer better service. If you neglect small companies, you will be giving them an opportunity to share their bad experiences. These negative reviews not only drive away your prospects but also give a strong reason to switch to other providers. Make sure you give your best to each of your clients, irrespective of how much business they give you.
Not devoting adequate time and resources to marketing
Health insurance is no doubt a standard product that everyone needs to buy. Nevertheless, you cannot ignore the importance of marketing it.
89 percent of customers do their research on the internet before buying any product. Health insurance is no exception.
If you don’t invest your time and resources in marketing, how will you make your business visible to these prospects?
Producing content in the form of blogs, social media posts, and infographics, help you drive more visitors to your website. Make sure they get all their health insurance-related queries answered through such content.
Spending Less Time on Lead Generation and Prospecting
Having access to a steady stream of prospects is very important if you want to keep your health insurance business running throughout the year. This is only going to happen through lead generation and prospecting.
If you think you don’t have the time to spend on capturing leads, try purchasing health insurance leads from professionals. You can get live transfer leads that can make your prospects a whole lot simpler. However, you will still need to set some time every day or every week for prospecting.
Not Leveraging Technology to Maintain Customer Relationships
For years now, insurance agents have been using spreadsheets or just plain diaries, to keep track of customer information. No matter how advanced technology is, they still haven’t moved on to any of the modern CRM (Customer Relationship Management) solutions.
CRM solutions make it very easy to personalize customer interactions. The software automatically reaches out to your clients, whether it is to send them alerts about their expiring plans or wish them on their birthdays. This saves a lot of your time while helping you be in touch with your customers.
The Bottom Line
Like other products, health insurance plans also need to be marketed and sold. You will have to maintain relationships with your customers if you don’t want them to run away from you. Thankfully, technology has made all of this very easy. It is now all about how you want to use it, to keep your customers happy.