{"id":12886,"date":"2021-06-10T17:39:58","date_gmt":"2021-06-10T21:39:58","guid":{"rendered":"https:\/\/www.resourcepro.com\/differentiate-your-insurance-agency-with-disruptive-selling\/"},"modified":"2024-07-24T13:12:16","modified_gmt":"2024-07-24T17:12:16","slug":"differentiate-your-insurance-agency-with-disruptive-selling","status":"publish","type":"post","link":"https:\/\/www.resourcepro.com\/blog\/differentiate-your-insurance-agency-with-disruptive-selling\/","title":{"rendered":"Differentiate Your Insurance Agency with Disruptive Selling"},"content":{"rendered":"\r\n

The dangers of a bid-and-quote approach to insurance buying<\/strong><\/h2>\r\n\r\n\r\n\r\n

Bidding and quoting on insurance policies is a common occurrence in today\u2019s market. Focusing on price is often the buyer\u2019s preferred sales process, yet it can come at the cost of leaving significant shortfalls in their coverage. They likely will not be aware of the underinsurance problem until a claim brings the issue to the fore.<\/p>\r\n\r\n\r\n\r\n

Worse, many insurance agents simply follow the lead of buyers who employ this approach, either because they do not have a more effective sales process to offer, or because they are afraid introducing an alternative will upset the buyer. Unfortunately, all this is likely to result in is a lost business opportunity.<\/p>\r\n\r\n\r\n\r\n

A new approach: lead buyers with risk assessment<\/strong><\/h2>\r\n\r\n\r\n\r\n

On the other hand, agents who are willing and able to lead buyers toward a more effective, risk-assessment-based process can break the dangerous bid-and-quote cycle and even go head-to-head with an incumbent.<\/p>\r\n\r\n\r\n\r\n

Here\u2019s how retail broker TrueNorth<\/a> partnered with ReSource Pro to enhance the selling skills of its producers and grow its book of business.<\/p>\r\n\r\n\r\n\r\n

CASE STUDY: YOUNG PRODUCER AIMS FOR A PROMISING ACCOUNT<\/strong><\/h2>\r\n\r\n\r\n\r\n

TrueNorth is a retail broker on a rapid growth trajectory driven by specialization in niche areas with complex risk, including contractors in the telecommunications industry. One producer with the company, Will Teubel, is still in the early stages of his career and has been building up his expertise in telecommunications for a few years.<\/p>\r\n\r\n\r\n\r\n

To win a $30,000 revenue opportunity, Teubel would not only need to lead the prospect away from a trusted incumbent, but also away from a quote-based approach to insurance buying.<\/p>\r\n\r\n\r\n\r\n

Download Full Case Study<\/a><\/strong><\/p>\r\n\r\n\r\n\r\n

SOLUTION: PRODUCER TRAINING THROUGH GROWTH SOLUTIONS<\/strong><\/h2>\r\n\r\n\r\n\r\n

To support young talent like Teubel, Aaron Brown, Principal, Construction Practice Leader at TrueNorth, launched an in-house training program and partnered with ReSource Pro’s Agency Growth Solutions<\/a>.<\/p>\r\n\r\n\r\n\r\n

Using the Disruptive Selling model, Agency Growth Solutions coaches guide producers in developing the confidence and skills to go up against veteran producers holding more relationship cache. The methodology teaches producers an effective sales process, including how to:<\/p>\r\n\r\n\r\n\r\n