01 Oct 2016

The insurance coverage Agency Elevator Pitch


An insurance agency elevator pitch is a succinct summary accustomed rapidly explain your insurance company, products and services. It will include your specific agency value proposition, and should be delivered within the time period of an elevator ride, in about 30 to 60 seconds. This is often more difficult than many representatives might at first think, and may be scripted, vetted, rehearsed, and timed. The elevator pitch is a really crucial and fundamental component of your insurance company marketing and insurance company prospecting attempts.

An excellent workout for representatives or agency executives is ask multiple folks within agency to share with you their type of the agency elevator pitch. You shouldn’t be astonished if the pitch varies significantly from individual to individual. Does the pitch adequately explain your value proposition? Does it highlight the merchandise, solutions and solutions which most readily useful exhibit your agency expertise? Performed the litany of pitches even sound from another location alike?

Some years ago, we came across utilizing the professional group and senior supervisors of a small company, which in those days employed less than 100 folks. I asked each of the dozen folks We came across to provide me personally with an elevator pitch about their business. Many people had been taken totally by shock. Other people sat and thought, and struggled to articulate an elevator pitch, if not explain their value proposition. The pitches we heard diverse significantly.

Elevator pitches are an important digital asset for every single agency. They must be vetted, scripted, applied, and preached. We call-it a secured item, since it is a fundamental component inside marketing of any agency. And every person in an insurance coverage agency, from representative to receptionist, to customer care representative to executive group can promptly and professionally deliver their insurance company elevator pitch.

The sales and marketing attempts are built upon a well articulated and simply repeatable value proposition, which should be a microcosm of your elevator pitch. If you fail to communicate your value proposition in less than 30 moments, or stumble whenever attempting to show it, it is the right time to write it straight down, rehearse it and communicate your value proposition with every person within agency. When which done, turn it into a 30 to 60 second elevator pitch. Training tends to make perfect, try repeating both these in monthly administration conferences and product sales conferences, and it is crucial that you observe that your elevator pitch might differ predicated on your target markets (P&C versus Group Benefits including).

Here are some best practices in terms of your insurance elevator pitch:

  • Be succinct – 30 moments is way better than 60 seconds (you may not have 60 seconds!)
  • Generate empathy – as an example, “We work solely with ny technicians” or “we use trucking organizations with 5 to 50 energy products” or we concentrate on teams between 50 and 150 participating workers”
  • Verticalize – a vertical pitch now is easier to differentiate, allowing you to better articulate your specific pitch. “We insure restaurants dealing with their own dangers.”
  • Differ – “save money” and “great solution’ is one thing every person says. What are your top 3, special differentiators?
  • Transfer passion! You need to believe it to allow them to believe it.
  • Close with a proactive approach – what’s the next step for your possibility

Let us review an example pitch, which may run 30 to 40 moments depending upon cadence:

We have been helping trucking organizations due to their insurance and danger related requirements for more than 50 years. Everyone at our agency is a trucking fleet specialist, in places including hazmat, niche cargo, certificate fulfillment, HOS, group wellness, and owner operator solutions. As a result of our accessibility considerable markets and deep industry expertise, currently innovative coverages within greatest prices, which help protect our consumers’ bottom line. We understand trucking insurance is one of your most crucial expenses, and our innovative coverage strategy can help meet your specific requirements. Can we create a 15 moment conference to talk about your particular requirements?

Your elevator pitch might-be built to include industry jargon to persuade customers of your deep expertise, it may highlight your most crucial products and services, your top differentiators, or your solution centric strategy. Regardless of what your final elevator pitch includes, rehearse tends to make perfect, it must move down your tongue efficiently. Bear in mind, 30 to 60 seconds is perhaps all you obtain before your most crucial possibility walks out from the elevator, as well as your chance might be gone forever.