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Better Business

Broker Toolbox: Stick to the facts in a GI sale

Mortgage Solutions
Written By:
Posted:
February 9, 2015
Updated:
May 22, 2015

In this week’s Broker Toolbox, Jason Berry, director of sales at Uinsure, says rely on statistics to give your client pitch confidence and validity.

Insurance is a tricky product to sell because it is something no one really wants to use. When selling a mortgage you’re selling a lifestyle. When selling a pension you’re selling security. When you’re selling insurance however, you’re selling protection for something clients hope never to need. You’re selling cover for the worst case scenario.

Unfortunately, because of this, it can often be difficult to make a sale.

So what can you do to get better conversions? One technique that can be effective is to use the facts and figures that are readily available to you.

I’m not suggesting you scare your clients into buying insurance, but rather make them understand just how often situations arise that could be made a lot easier if the person involved had had adequate insurance in place.

For example, research from insurer Churchill shows there are 11,600 offences against households a day in England and Wales, including vandalism, burglary and theft.

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Furthermore, while we may have seen a somewhat mild winter so far, government figures show the winter of 2013 to 2014 saw over 7,800 homes and nearly 3,000 commercial properties flooded.

And figures from homeless charity Shelter reveal 44% of working families are just one pay cheque away from losing their homes. Should the main earners in these families, equivalent to 3.8m households, lose their job and struggle to find another they’d only be able to pay their way for one month.

Your clients may have thought they can bury their head in the sand by taking the “It’ll never happen to me approach”. But figures like those highlighted above should make them see that’s not the case.