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Simplify the complex

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Beyond price

We are all biased toward simplicity. While people may be able to make complex computations, we still prefer simple decisions. Online disruptors, for example, take advantage of this bias by focusing on one variable – price, which can lead to three new challenges.

Issues with a price-centric focus

  • Oversimplifying your clients’ needs making them think that all insurance products are the same.
  • Blurring the buying alternatives (by letting your clients say, “I just need some insurance.”)
  • Devaluing your contribution and all value drivers beyond price.
Simplify the complex
Simplify the complex

Making their decision easier

Even when your clients come to you with options they found in their new purchasing journey, they still look for you to make a recommendation that is in their best interest. By providing a recommendation based on their unique needs and explaining the benefits and impact of your recommendation, you simplify their decision. Here is what they told us:

81%
of consumers expect their insurance agent to make a recommendation
77%
will pay more if their agent articulates the value of the policy and the tradeoff between cost and quality
Tactic
Tactic

Ask simple questions to uncover complexities

“If a few of your custom kitchen cabinets were ruined by a water leak, would you want to replace all of the cabinets so they could all look alike?”

“If you or someone in your family were sued, how would that affect your financial strength and outlook?”

“If you were in an accident with an uninsured driver, how would your financial situation be affected?”

“If your home was damaged or destroyed, how critical would it be for you to stay in your neighborhood or school district, so as not to disrupt your family any more than necessary?”

Still interested in more?
Still interested in more?

Find resources to help grow and retain your business by winning the new purchasing journey of successful families and individuals.