Overcoming customer rejection the right wayArticle added by Justin Brown on February 5, 2014
Justin R. Brown

Justin Brown

Denver, CO

Joined: April 19, 2013

My Company

Bankrate Insurance

When you went into business as an insurance agent, no doubt your goal was to turn every prospect you came in contact with into a customer. That was certainly the mindset of Alec Baldwin’s character in the film "Glengarry Glen Ross."

The film depicts two days in the lives of four real estate salesmen. A famous line from the movie is, “You got the prospects coming in. You think they came in to get out of the rain? A guy don't walk on the lot lest he wants to buy.”

But the reality is that there will be times when you encounter policy objections from a prospect who doesn’t think he or she really needs what you are suggesting, or coverage objections from someone who doesn’t want to spend the amount of money it would cost to get the type of coverage you really think they need.

Don’t take it personally. People come from all different backgrounds and walks of life. It’s impossible to know exactly the right thing to say when trying to turn insurance leads into sales.

There are six basic objections you will encounter when you work in insurance sales. None of them are impossible to get around. For each, there is a simple solution. The trick is being able to properly identify which objection your insurance prospects are making and learning how to turn a defensive prospect into a client.

  • We’re already working with someone else.
  • We have no need for or interest in this type of policy.
For these two, the best strategy is to bring up the name of a company who is one of your prospect's competitors — one the prospect is familiar with and that you have worked with — and say, “That’s what John over at Company X said until we showed him how much money our policy could save him a year.” That statement is sure to get the prospect’s attention.
  • I’m too busy.
  • Send me some information.
Both of these are basically knee-jerk reactions. The person you are talking to is busy and the last thing they want to do is talk to a sales person. Apologize for having caught him or her at a bad time, and ask if you can set up a face-to-face meeting for Thursday at 2 p.m. instead of wasting time on the phone. If the person again asks you to just send information, you can send over a single sheet listing all the services you offer with a reminder of the meeting on Thursday.
  • We don’t have the money right now.
You don’t need to make a sale immediately, so assure the person that they don’t need to think about buying right away. You just want to make sure he or she knows the options available for insurance when the budget frees up. Offer your services at a later time by setting up another meeting in a few weeks or months.
  • Misdirection.
This is perhaps the trickiest objection of all. It’s when a prospect makes up a false objection just to get you off the phone. If this happens to you, work to find out what the real objection is. You’ll likely find it’s really one of the issues mentioned above.

In conclusion, when working with insurance leads, always go into the conversation with the mindset of the top 20 percent of salespeople: Be prepared for resistance and ready to handle it when you get it. Selling insurance takes a lot of patience. A good handle on human psychology doesn’t hurt either. Hang in there for the long haul, try some of these techniques and you’re sure to see some good results.
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