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How to Succeed in the Changing Face of Life Insurance Client Relationships

Are you worried that your life insurance business won’t be able to keep up with the changing pace of the culture?

You’re not alone: Many producers share this concern, wondering if the world is changing faster than their business is able to keep pace.

One of the biggest obstacles life insurance producers face is the internet age and all the new technology that comes along with it.

The specific source of all this trouble?

Consumer behaviors.

Your clients are dramatically changing the way that they shop. A whopping 45% of them turn to the internet for information about life insurance – their primary source, in fact.

They're looking for YOU online – to communicate, to educate, and to offer value by providing the solutions they need.

But that's not all. They also expect you to use the latest technologies and advancements throughout the entire process.

How to Keep Your Clients – and Then Some

If there’s one thing you need to figure out – and soon – it’s how to keep your clients.

You need to find a way to stop them from buying insurance from online competitors.

Stop giving them a reason to leave you.

Understand what it will take to make them WANT to stay.

There’s an easy answer to this challenge: Adapt as your clients are changing.

It's Easy – When You Know What to Do

Trust is an important facet of the producer-client relationship. If they don't trust you, they're not going to buy life insurance from you.

But there are ways to build trust and ensure that your prospects and clients get the feeling you're doing all you can to help them get solutions.

Here’s what to do:

  • Value your clients.
  • Don’t take them for granted.
  • Prove that they matter.
  • Show that you're there for them.
  • Jump into their lane: the online world of advanced technology.

Creating Value for Your Life Insurance Clients

You’ll have to debunk some of the notions consumers have about life insurance producers. Namely, that all they do is find and sell policies.

A Deloitte report found that “six out of ten consumers say they receive no particular service from their producers beyond shopping for coverage.”

If this is the apple-to-apple comparison they’re making, they may not know the true value of what you can do for them.

As your clients and prospects are changing the way they shop for life insurance, what they expect from life insurance producers is evolving, as well. 

Show them your value, service, commitment, and your willingness to find out what they really need the most and to provide it.

It’s what consumers don’t know they need, but they need it desperately.

Bringing Your Brand Up to Date

Make a commitment to meet clients where they are. Take a hard look at your prospecting and sales processes.

How could you do things differently? Where can you make the most impactful changes? 

Here are some specific areas for you to focus:

  • Your website. Is it current, user-friendly, and a great resource?
  • Email. You should be sending out regular emails and/or newsletters to connect with prospects and clients.
  • Social media. Get active on social media platforms like LinkedIn. This is another great way to engage your audience.
  • Networking events. Whether it's in-person or via Zoom, make sure you're taking part in events where you can share ideas with other life insurance producers and make valuable connections.
  • Marketing. Don't live in the Dark Ages of traditional marketing. Embrace the digital world to bring attention to your brand.
  • Videos. If you haven't already, make videos. It's a medium that captures attention and engages in a different – but no less powerful – way than social media.
  • Mission or value statement. If your goals aren't clear cut, how do you know what you're working toward. If you have a mission statement that's outdated, it's time to give it a revamp.

Leave no stone unturned, and be honest in your efforts. Consider the value of being intentional in your commitment to better serve clients.

Stay Current, Close More Cases

You can be sure that this kind of approach will make clients (and prospects) stand up and take notice. This kind of honesty will set you apart from the competition and ensure that customers will want to stay with you – no matter what unbelievable offer from the competition comes their way.

Originally published 2/16; Updated 2/21

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