When meeting with customers, sometimes an insurance conversation flows naturally following a home loan or other loan application. Other times, it can be more difficult to know where to begin.
We’re pleased to share our top tips on how to begin meaningful insurance conversations and what a good lead looks like, so you can help get your customers and their families the protection they need.
Top tips from our Senior Advisers
- When customers are applying for loans, and in particular home loans, it’s a good opportunity to discuss if they have a plan on how to repay the loan if they were unable to work or use savings, that is, what would their ability be to service their debts should the unexpected happen? This is where the insurance conversation naturally fits, rather than asking if they have life insurance straight up.
- It’s important to clarify this is about life and living insurance, not contents or other “general” insurance products.
- If a customer has had an annual review with you, or they’re wanting lending, they’ll usually be open to diving deeper into their financial needs.So that your customers understand the synergy between banking and insurance, it’s a good idea to mention the Insurance Adviser you’re referring them to by name. If we receive good notes from you, the conversation will flow smoothly and feel like a natural extension of their banking experience.
- To help enable good rapport, we need to understand why customers have come to the bank, eg: they’re buying their first home. Or if we know some personal details, such as their place of work, how many children they have etc. It’s useful to know what insurance policies they may already have in place. Listen for cues, the more details you can provide, the more successful our conversation usually is.
- It’s important to ensure we have all their personal details correct, email address, phone number, a good time to call and so on. These notes make our job so much easier. It’s also worthwhile having a conversation with the Insurance Adviser you work with about when is a good time for them to have a follow up call. We find that the sooner we make the call after you’ve had your meeting, the better.
- Providing solutions will build and strengthen your customer relationships. Be concerned about people who don’t take cover up. Remind them of the risk, not by putting pressure on, but by doing everything you can to help people understand the consequence of not having the right protection in place. We know it’s financially tough at the moment and that some people are living paycheque to paycheque, but we can tailor our products to different budgets and needs.
- Finally, remember advice is free with Chubb Life, all we need is your customers’ time.