Dynamic Friday: The One-Stop Close

Episode 124 of the Built Simple (in Insurance and in Life) podcast, hosted by Adam Brsan, titled "Dynamic Friday: The One-Stop Close" was published on October 4, 2024 and runs 26 minutes.

October 4, 2024 ·26m · Built Simple (in Insurance and in Life)

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Summary

This episode focuses on strategies for improving policy persistency and sales in the insurance industry. Key points: - Personally delivering policies or following up with clients within 30 days is crucial for retaining business. The host achieved a 93% persistency rate using this approach - Policy deliveries provide opportunities for referrals, upsells, and cross-sells. Meticulous record-keeping of client information is important to avoid issues. - Maintain a "lapse list" of potential clients to follow up with later Aim for consistency in sales with a minimum of $3,500 per week. - True Social Security billing can improve persistency and lead to better results. - Sales can be unpredictable, so persistence in finding new opportunities is key Closing sales on the initial visit is important, as follow-ups are often unsuccessful. - The speaker shares a recent experience of finding suitable life insurance policies for a client with significant health issues, highlighting the importance of exploring different options. - The key takeaway is to make the most of each interaction with a potential client, as there are no "be-backs" in this industry Being present and prepared for every sales opportunity is crucial. Achieving a 93% persistency rate by personally delivering policies or following up with clients within 30 days. The importance of staying connected with clients, especially in final expense and Medicare sales, to retain their business. The value of maintaining a "lapse list" to follow up with potential clients who have previously cancelled their policies.

Episode Description

This episode focuses on strategies for improving policy persistency and sales in the insurance industry.

Key points:

- Personally delivering policies or following up with clients within 30 days is crucial for retaining business. The host achieved a 93% persistency rate using this approach

- Policy deliveries provide opportunities for referrals, upsells, and cross-sells. Meticulous record-keeping of client information is important to avoid issues.

- Maintain a "lapse list" of potential clients to follow up with later

Aim for consistency in sales with a minimum of $3,500 per week.

- True Social Security billing can improve persistency and lead to better results.

- Sales can be unpredictable, so persistence in finding new opportunities is key

Closing sales on the initial visit is important, as follow-ups are often unsuccessful.

- The speaker shares a recent experience of finding suitable life insurance policies for a client with significant health issues, highlighting the importance of exploring different options.

- The key takeaway is to make the most of each interaction with a potential client, as there are no "be-backs" in this industry

Being present and prepared for every sales opportunity is crucial.

Achieving a 93% persistency rate by personally delivering policies or following up with clients within 30 days.
The importance of staying connected with clients, especially in final expense and Medicare sales, to retain their business.
The value of maintaining a "lapse list" to follow up with potential clients who have previously cancelled their policies.