Daily sales & marketing tips for insurance professionals

Like we said last week in the Insurance Blog Wrap-Up, “No one likes to picture themselves as old…and wearing adult diapers.”

And though we were talking about long-term care (LTC) insurance in that particular video, the same points can be made, I think, about its cousin, disability insurance (DI).

Registered Health Underwriter (RHU) Ron Cohen seems to agree, saying:

Most Americans would go bankrupt within 90 days of a disability. We just do not save any money and thus find ourselves without an out. [...] Being disabled is a living hell that disables more than just the individual. It takes the whole family down, as well as friends, employees and businesses.

So, like LTC, DI is obviously a primary need. A need that many people don’t think about or prepare for (present company included). Why? Cohen chalks it up to perception. Between the myriad of late-night attorney advertisements telling people to sue their insurance companies over disability coverage and the lack of public education, Cohen says that consumers and insurers alike are getting the shaft–and changes need to be made.

That change is starting with the formation of the Council for Disability Awareness, as well as more concentrated efforts by the International DI Society and the American College. The goal: to educate the public about the benefits of DI coverage and create a more “favorable image” of the DI industry.

But Cohen says education needs to extend further than the general public and challenges insurers and financial planners to educate themselves on the need for DI, and, in turn, to teach their clients about those needs–thereby circumventing the impossible financial situation of a “living death.”

Change, Cohen adds, must start from within the industry, which is how it should be.

It’s up to us to spread the word to our own first and for our own to relay it to the public. I suggest that if you want to learn about disability insurance, you consider joining the International DI Society. Agents/brokers, regulators, administrators, human resources, actuaries, claims people, legislators, you name it, are all welcomed.

As someone who’s harped (somewhat repeatedly) on changing the image of the insurance industry, I applaud Cohen for his efforts and for pushing industry peers to take responsibility and accountability for their part. Check out Cohen’s full article couresty of the Insurance News Network here–and get inspired.

Whew. It’s true what they say about walking a mile in someone else’s shoes. Our video editor James is out of the office, so I had the pleasure of editing this week’s InsureMe Insurance Blog Wrap-Up (in tandem with the brilliant Peter D.)

It came together pretty well (considering), so be sure to head over to the InsureMe Insurance Blog tomorrow to check it out.

I’ll be out of the office tomorrow, so, until next time, let your peers know they’re appreciated.

[image courtesy of gapingvoid.com]

I suspect that most people would say this cartoon doesn’t apply to the insurance industry. I suspect that most of those people would say it’s because insurance is dry, complicated and one of life’s necessities that no one likes to talk about or spend money on.

I say these things because it’s what I first thought when I saw it.

But then I remembered a conversation I had earlier this summer with a friend of mine. We hadn’t seen each other in a couple years, and somehow, at three in the morning, we were talking to each other about the benefits at our respective jobs. And after ten or fifteen minutes we paused, looked at each other, and I said:

“I can’t believe we’re talking to each other about 401k.”

Then, this morning as I met with my insurance agent, he talked to me about a variable universal life insurance policy. I’m young and healthy now, and could lock in a great premium rate while building cash value for the future.

Clearly, these are two products that I will talk to my friends about. And no, life insurance isn’t as sexy, as say, my new digital camera, but when the marketing has been done and the benefits [to me] are made clear, I’ll talk about it. And that, my friends, is good news for you.

Alright. I’m back, as promised, with renewed vigor for yesterday’s lost post.

Creating Passionate Users is safely one of my favorite blogs of all time. And, while its focus rests predominately on web design and usability, it often addresses topics that apply to all areas of business.

Case in point: this week, CPU blogger Kathy Sierra wrote a stellar post about the importance of strong beginnings. Namely the beginnings of presentations, but I’ll expand the definition of “presentations” to include small seminars, small group lunch-and-learns and sales calls.

Because, as Sierra points out, if you don’t grab your audience from the first moment, your chances of recovery are slim to none; there are few phoenixes that rise from the proverbial presentation ashes.

And while it’s really a disservice to paraphrase said post, I will leave you with a couple of Sierra’s tips for strong beginnings:

Don’t start at the beginning.

Start where the action begins, says Sierra.

“Advice for first-time novelists is often, ‘Take the first chapter and throw it away. Chances are, chapter 2 is where it just starts to get interesting, so start THERE.’”

Show, don’t tell.

“If you have to TELL your audience that they should care, you’re screwed,” says Sierra.

Amen and amen.

Don’t waste time trying to prove your credibility.

This can be particularly painful for all involved parties, Sierra points out.

How many talks do you see where the speaker has multiple bullet points and slides just on their background? I did it once [...] and it did NOT go over well because:

A) Nobody cares
B) Bullet points do not equal credibility
C) Nobody cares
D) You already HAVE credibility going in… you don’t have to earn it, you just have to make sure you don’t lose it.
E) Nobody cares

Whether you’ve been invited to speak at a large event or to the HR folks at a small business, remember that you’ve already established your credibility–you wouldn’t have been invited to speak otherwise. Your job is not to gain more credibility with the audience–your job is not to lose it.

Head over to Creating Passionate Users to check out the full post. Sierra includes a great list of ideas for beginnings that will both enlighten and inspire.

[Bonus aesthetic material]:

I had the extremely good fortune of attending the Future of Web Apps in San Francisco last month. And while the place was chocked full of tech geeks, I can tell you that nearly all of the presenters had mastered not only the beginning, middle, and end of their presentations, but they had also mastered the fine art of Power Point.

Take a look at Yahoo’s Tom Coates to see how he used Power Point to enhance his presentation, to gently lead the audience along–not to drag it forcefully by elbow.

And, if you ask him really nicely, I bet James Omdahl of the InsureMe Affiliate Blog will share some of his speaking and Power Point tips. One speaking gig under his belt, and already a pro.

[UPDATE 10.25.2006]: My apologies to Internet Explorer users who got an ugly version of this post yesterday. That’ll remind me to make sure the blog looks okay in various browsers before going home for the night. (Big thanks to April H. for letting me know things were askew!)

Well. I just lost my entire (heartfelt, and rather lengthy) blog entry for today. For as much as I boast about the wonderment of technology, it sure makes me miserable sometimes.

Since I now lack the intestinal and emotional fortitude to retype the whole thing, I’ll leave you with this update of earthquake costs in Hawaii.

I’ll be back tomorrow with a smile and today’s original blog post in tow.

Insurance professionals are busy people. I should know; I spent longer than desired yesterday trying to set up an appointment with my auto insurance agent.

So when I read about time boxing today on David Cheong’s blog, I thought of you guys and gals.

What’s time boxing?

Cheong describes time boxing as a time management technique which involves delegating a certain period of time–say, 30 minutes–for a specific task or project, and doing the best you can on that task in the time allotted. Then, the project is either marked as “done” at the end of the time period, or you commit another 30 minutes to the task on another day.

Cheong points out that time boxing is so efficient because there are always numerous things competing for our time.

Accordingly, time boxing works because:

1. By being time-conscious, you can focus on the projects that matter most
2. It shows you how much time you’re spending on open-ended tasks
3. The time constraints ward off procrastination
4. It allows you to work on things during the free gaps between other commitments and appointments

Starting Monday (since we’re nearing closing time here on this Friday afternoon), I’ll be giving this time boxing thing a try.

In our creative marketing group, we find that we have so much going on that we have a hard time prioritizing important and urgent projects. As a result, some of the really important stuff–including our passion projects–gets left behind. And that’s not good for anyone.

Take a look at Cheong’s posts about time boxing here and here. Give it a shot and let me know if and how it helps you manage your busy days.

Have a great weekend, everyone. Oh, and if you want to watch a man eat ten hamburgers in one sitting, check out this week’s InsureMe Insurance Blog Wrap-Up here.

My auto insurance policy is up for renewal next month, and in light of some rather unpleasant circumstances related to my current policy, I’m shopping again. Using nothing other than InsureMe.com, of course.

So, of course, because I work here, I understand how things work. Intimately. And aside from learning and writing about all facets of insurance, I also have the extreme pleasure of authoring this blog and other informational sales articles for insurance professionals.

So when I filled out the InsureMe online quote form, I illustrated clearly in the comments section that I worked for InsureMe and asked for my insurance matches to email me preliminary quotes and then we’d go from there.

And, because I know that the agent who makes the first contact with a lead has the best opportunity to make the sale, I expected a couple people to call me. True to form, and despite my email-only request, I received two phone calls within ten minutes. I get it; I wasn’t going to complain.

But this afternoon, four more of my matches emailed me, complete with preliminary quotes. And I was elated. Why? Because they took the time to read the notes and see that I preferred to be contact by email first. They all presented me with fast, accurate quotes. And then they left the ball in my court.

As a result, I felt genuinely respected by these agents. And I’ll be in touch with the four of them, by phone, tomorrow, to give them the information they need to firm up my quotes. Then I’ll see who can give me the best rate.

The point here is that people have varying preferences. And if a prospect or client lets you know how he or she prefers to be contacted, or where they’d like to meet, or when…do your best to respect it.

You’ll get that respect right back.

As you’ve probably noticed, we’ve been making a fair amount of videos here at InsureMe. Of course, when you’re making videos, you end up watching quite a few, too.

The following video has quickly become a favorite here at the office:

What’s this have to do with insurance sales? Well…everything, really.

Just remember that clients and prospects are people, too. And while I’m not necessarily suggesting that you hug every contact in your address book, treating someone with love is not only a great way to build a strong working relationship, but it affirms in others the importance of paying it forward.

The blog is being a tad finicky this afternoon, so I’ll post a couple links to the stories I spent some time on today:

Crop Insurers Piling Up Record Profits [Washington Post]
Hawaiian Earthquake Could Be a Taste of What’s to Come [Insurance News Net]
Portable Seatbelts Promise Safety While Traveling Abroad [Insurance Journal]
California Leads Nation in Hybrid Ownership; Travelers Offers Discount [Insurance Journal]

Big hat tip to the Insurance Coverage Blog, which got me reading about crop insurance today. I hope to post more about that later this week.

I was flipping through an old issue of the Agent’s Sales Journal (August 2006 to be exact) and really enjoyed Jay B. Lipe’s piece about paying attention to your product packaging. The package, after all, can determine whether or not a customer buys the product.

Insurance is an intangible product, you might be thinking, so what kind of package are we talking about?

The package, my fine friend, is you.

Though we’ve all been told not to judge a book by its cover, many of us still do. Especially when it comes to purchasing something like insurance, where we need to like and trust our agent.

Lipe makes quite a few apt points, but I most enjoyed his thoughts on clothing, briefcases and notepads.

On clothing:

Lipe quotes author Sue Morem when he gives this rule of thumb: “Always dress better than you need to.” It’s always better to be overdressed than underdressed. So trade the concert tee for a tie, even if you’re walking into a casual meeting with a prospect or client.

On the briefcase:

“I’ve seen people use briefcases that looked like they carried the first batch of Pony Express mail,” says Lipe. This is equal parts hilarious and true. Lipe suggets investing in a good briefcase from a “reputable luggage store”. I concur.

…Read the rest of this entry »