Why They're Not Buying Insurance

Why They’re Not
Buying Insurance
Overcoming common objections
in the sales process
© 2013 QQ Solutions, Inc. All rights reserved.
QQSolutions.com | 800.940.6600

Customers have different reasons for buying – or not
buying – insurance. If you’ve worked in the insurance
industry long enough, you’ve likely heard it all. Some
prospects may say they can’t afford it. Others may say
that it’s not something they need right now.
In order to turn an objection into a sale, you have to
be prepared for what they might say … and how you
will respond.
Reasons Why They Don’t Buy

In a fluctuating economy, it’s difficult for some prospects
to commit to another monthly payment. How do you
respond to a prospect who says that they don’t have the
money in their budget?
Help them understand that – in the long-run – it will cost
them more not to have insurance. Prepare statistics and
figures about how much an emergency could cost without
insurance, and talk them through those numbers during
your sales pitch.
Reason No. 1: No Room
in the Budget

When a certain type of insurance, like car insurance, is
mandatory by law, it’s easy to explain to prospects why they
need it.
For insurance that’s optional, consider preparing a list of
questions to ask prospects that will help you identify what
types of coverage they really need, even if they don’t know it
yet.
Based on their answers, provide them with real-life scenarios
of when and why they might need insurance.
Reason No. 2: No Need
for Insurance

The more you can educate prospects about your product, with
specific examples that are relevant to them, the more likely they’ll
be to invest in it.
Tell prospects about the benefits of your product, but avoid:
• Insurance jargon.
• Making generic recommendations.
• Using “fluffy” language. (Example: “We’re the best choice.”
But why are you superior to your competitors?)
• Being overly pushy. If you’re rushing to close the deal,
prospects will feel as though you’ve missed the mark.
Reason No 3: Lack
of Knowledge

By utilizing an agency management system, such as
QQ Catalyst, you’ll have access to prospects’ X-dates on existing
policies with other insurance providers. You can use this information
to find new leads and then contact them.
Before you reach out, prepare:
• A list of the key differentiators that set your agency apart from
your competitor (i.e. their current insurance provider).
- These could include: price, benefits, customer service, years of
experience, types of coverages available, flexibility of terms.
Reason No. 4: Relationship
With Another Agency

If you’ve already gotten over the first hurdle of turning a lead into a
customer, the next challenge becomes maintaining and growing the account.
Using the cross-selling report available in Catalyst, you can find
opportunities to sell existing clients into other insurance lines.
A common objection you may hear when trying to cross-sell is that clients
don’t have the additional money to spend.
In this case:
• Look for additional discounts that might apply to the customer, based on
the information you already know about them.
• Check to see if your agency offers discounted rates to customers who
invest in multiple insurance lines.
Cross-Selling to
Existing Customers

The greatest difference between a customer and a prospect is that
one understands the product and why it’s valuable and the other
doesn’t … yet.
Do your part to educate prospects by:
1. Asking the right questions,
2. Listening to their answers,
3. Educating them on the benefits,
4. Making coverage recommendations based on all of the above.
If you tailor your recommended coverages to their needs, you’ll be
much more likely to have a sales pitch that ends in a signature versus
a shutdown.
Closing the Deal

About QQ Solutions
QQ Solutions is one of the largest providers of insurance agency
management systems nationwide.
-More than 4,600 insurance agency customers
-More than 22,000 users
-25 years in business
Our mission is to help independent insurance agencies compete in the
digital world, by leveraging Web technology, social media, Internet
marketing and real-time services.

Take Your Agency From
Good to Great!
QQ Solutions develops agency management systems and
other automation solutions that do the heavy-lifting for you –
letting you focus on helping your clients and growing your
business.
• QQ Catalyst – The latest in agency management systems,
Catalyst is an innovative game changer that everyone in your
office will love to use.
• QQ WebRater – Get real-time auto insurance rates, fast and easy.

Connect With Us!
Read our agency management blog for tips on marketing, sales, client
relations, and much more.
Join the conversation about insurance sales and agency management systems
on our QQ Solutions Facebook page.
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Connect with QQ Solutions on LinkedIn as a business contact and follow us for
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Watch the QQ Solutions YouTube channel for tutorials and demos.

Why They're Not Buying Insurance

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