Judging from the feedback from members of my team who attended FSE in Manchester, intermediaries view selling home insurance as an excellent way to not only build relationships but create a valuable revenue stream to generate commission year after year. However, it also seems that selling general insurance takes many out of their comfort zone.
Selling GI is in many ways no different from arranging a mortgage. Treating customers fairly is at the heart of the process so it is essential to identify a client’s specific needs and circumstances and ensure they understand the terms of the policy and the costs involved.
The more you know about a client, the better positioned you are to build an insurance solution that is relevant and appropriate. The mortgage sales process involves a lot of fact-finding, and these details can be useful in delivering a tailored insurance proposition. Remember that insurance is all about looking after the things that matter most to people, so focus on protecting the things clients feel they cannot live without.
Knowing what protection GI products do and do not provide, what clients want to protect, what they will experience if they make a claim and the benefits they will receive will lead to a successful outcome for both sides. If in any doubt about home insurance in general or specific products, speak to your provider’s broker team. They should help build your knowledge and understanding of these types of cover, as well as your confidence in selling them.