Today we are pleased to have a guest blog from David Robinson, Territory Sales Representative, at Progressive Insurance.
Best Quote Practices to Increase Auto Conversion
We’ve all heard that dreaded response from new prospects after delivering (what you thought!!) was an excellent rate: “No thanks, I got lower quote somewhere else.”
Did you know that when a potential prospect calls your office requesting an auto quote, that, on average, you are the 3rd option they are calling, whether they contacted an agent down the street or quoted an online company?
That is why it’s critical to do the following on every single auto quote: Ask the right questions, apply all available discounts, offer the best bill plans and follow up by emailing the quote.
I like to use an acronym for best quote practices called BRET- Best Rate Every Time.
In my 12 years working with Progressive agents and previously in our Direct call center, it is critical to accurately apply and lead with as many discounts as possible. If you don’t, I guarantee there is an agent down the street that is quoting with all the discounts and we all know that the Progressive Direct or Geico call center sales rep is quoting that prospect with every available discount.
Here are a few tips to help increase sales when that new prospect calls in for the first time:
1) Ask for/ collect email addresses on every quote. Why? You can leverage more discounts, such as Paperless and Snapshot, on the quote. Also, did you know that agents who regularly email quotes have reported higher conversion levels vs. agents who do not email quotes to potential prospects?
2) Take time to connect with your new prospects through relating, asking the right questions, listening, and understanding their needs. Don’t assume it’s always about lowest rate.
3) As an independent agent with multiple carriers, set yourself apart by letting prospects know they do not need to shop with anyone else because you represent “x” number of carriers. Present multiple carriers/ quotes and let the customer choose. Be sure to let the prospect know the various features/ benefits of each company that you represent.
4) Accurately apply discounts in your AccuAgency rater on each first quote and discuss best bill plan options that give the largest discount. For example, if the customer has an email address, tell them you are going to give them both a Paperless and Snapshot discount. Using the word “discount” connects the client to the product you are selling and increases your odds to close the business. Some of the most commonly missed discounts Progressive offers include: Advance Quote, Length of Vehicle Ownership, Education, Occupation, and Snapshot (up to 10% at new business). Please note: All of Progressive’s discount questions are listed in your AccuAgency Rater.
Remember, to increase your agency sales and revenue, don’t forget the importance of connecting with your clients, emailing quotes and make sure you utilize B.R.E.T. on every single new quote.
Territory Sales Representative
Vikki Thomas has been working in the insurance industry since 1995. Vikki has worked for several carriers in customer service, quality assurance, underwriting, product management and marketing. Vikki has worked at AccuAgency since 2008.