With over half a million insurance agents* operating across the U.S. and with an expected growth rate faster than the U.S. industry average, it’s time to check in to see if your agents are selling as much as they really could be. This means diving into your call analytics software to see if you’re providing your agents with the right tools.
First, we need to understand the main tools your agents should be equipped with. Without these basic tools, you could be missing out on revenue. It all starts with call analytics software.
From that software, you can create the following helpful training tools:
- QA Scorecard
- CSAT Surveys
- 1-on-1 Coaching
- Onboarding Training Program
- Call Recordings
- Company Training
Let’s break these down further so you know exactly where to start in order to help your agents sell more.
You need a quality assurance (QA) scorecard to ensure a consistent, good-quality customer experience. As you hire new employees, the processes for your company will grow as you need to pass down knowledge from the CEO, directors, and managers to the agents who are representing the company on the phone.
A QA scorecard is a checklist of questions used to determine the quality of a customer service interaction. It’s important to keep it short – 10 to 20 items is a good number and make sure they are measurable.
- Build rapport with the customer
- Communication was clear and confident
- Behaved courteously and professionally during the call
- Follow policies and procedures
- Obey laws and regulatory guidelines
- Keep good records of the transaction
- Asked the customer’s permission to put on hold or transfer the call
- Kept customer informed of actions throughout the call
- Allowed the customer to discuss problems and issues
- Solved customer issues in a timely manner
- Resolved customer in one interaction
- Offered additional assistance
- Maintained control of the call
- Recorded details of the call and updated CRM
Customer Satisfaction Score (CSAT Score) is a metric that measures the happiness of your customers with your product or service. The survey is how you calculate those scores. A CSAT score is one of the most used metrics when it comes to customer service.
If you aren’t measuring this, then you must start tomorrow.
If you’re already measuring this, how are you helping your reps improve their scores?
Companies need to use their CSAT as a differentiator as to why their product or service is the best. Plus it will help reduce customer churn – who doesn’t love that?!?
Basic Example of a CSAT Survey
“How satisfied were you with your experience?”
Customers respond with a 1-5 rating scale, which is rolled up into an easily benchmarked CSAT metric.
Build upon that for 2 or 3 questions
You can expand your reach by adding another question, but remember if a survey is too long then the likelihood of it being filled out goes down.
“Rate your satisfaction with our team in resolving your issue.”
“How likely are you to recommend our product/service”
Selling is tough. It doesn’t matter if you’re selling insurance or a software product. It’s important as a leader to make sure you are helping your team improve. This all starts with 1-on-1 coaching.
Give your agents feedback on things that went well as well as constructive criticism on a deal that maybe didn’t go as well. If you build upon their strengths, their likelihood to sell more increases exponentially.
Onboarding Training Program
This is a MUST. If you hire new agents and expect them to just shadow and learn, their progress will be slowed.
Take the initial time upfront to build an onboarding program that allows agents to understand their Ideal Customer Profile (ICP) and the best practices behind selling insurance.
The best place to start is to create a 14 days program. Sure, you’ll want to expand that in the future but if you need a starting place this will be great.
Focus on your goal by the end of two weeks. Generally, it’s equipping agents with the right tools and knowledge so they can start making calls on their own. The following should be included in this program:
- Knowledge Hub – where do we keep all of your company’s best practices and resources?
- Daily meetings with their manager to review what was learned and their focus for the next day.
- Time to shadow and learn from your best agents to see how they separate themselves.
- The vision of the company – where are their growth opportunities?
- Review of your tech stack – all of the tech you use to help your agents become successful. This includes call analytics software, QA scorecards, etc.
- Call recordings – let them listen to good calls, bad calls, and all of the stuff that happens in between.
While listening to call recordings takes a TON of time, if you don’t have real-time call coaching software then you need to have your agents make time each week for this. Call recordings help your agents learn what could have gone better during a call or if they were speaking too much/too little.
Now if you want to upgrade your tech stack and give your agents the right tools, then look into real-time call coaching software. They will receive real-time responses and feedback on the calls so listening to them no longer needs to happen.
Plus they receive a call scorecard that is like gold when it comes to call analytics software. They can easily review their talk time, objection handling responses, and prep for the next sales call.
This should be a no-brainer for companies, but you would be surprised how often it actually is forgotten. Reminding your employees of the mission, vision, and values will only build upon their drive to sell… especially if you have a solid foundation within the company.
Company training also allows agents to see what it’s like working with other parts of the company. Which in turn can give them valuable insights to use on sales calls with their prospects.
Why Call Analytics Software Matter When Selling Insurance
At the end of the day, your insurance agents have the ability to sell more. But only if they’re given the right guidance and tools to make that happen. This is where call analytics software comes in because it can provide you with everything your agents need. From CSAT surveys to QA scorecards to call insights and transcripts, your team will be able to face any objections.
This all starts with your agent onboarding program. Have that in place with the items mentioned above and you’ll be exceeding your sales goals.
If you want an even bigger advantage, check out real-time call coaching software. It really will make a difference for your team, starting from day one.
* Source: https://www.insurancebee.com/blog/insurance-agent-industry-statistics