Insurance can be a tricky thing to sell. You and I know that not all insurance is the same. There are numerous coverage options, policy types, and premiums to go with them.
If you’re like most, you spend most of your day educating prospects and proposing your suggested insurance solution. But this is tough to do via email, and it’s not always possible to sit face-to-face with every prospect to walk through the options.
This is where video proposals can change your world.
What are video proposals?
First, if you haven’t heard of them, an increasing number of producers like to send a short video along with their quotes and proposals. The average length is around five minutes. These video proposals can be used to explain coverage options or just put a friendly face in front of prospects. They typically show the producer on camera (webcam) and/or a recording of the screen with the policy options or proposal shown as the producer talks through it.
And yes, they work.
“Close ratio is up about 15-20% since we began using them!”
— Shaun / Agency Owner
And if you think about it, it makes sense. There are a lot of nuances in any insurance proposal. Without taking the time to explain your recommendations, it’s easy for prospects to focus on the cost of the policy and lose sight of everything else, including the coverage.
Selling more with video proposals.
The most obvious case for using video proposals is during the sales process. So, let’s take a closer look at that.
People are increasingly expecting to do business virtually. Don’t take it personally. It’s not you. It’s all of us! If we can buy a car using an app, why can’t we learn about and buy insurance the same way?
This is where video proposals come in. When you send your next proposal, think about how your prospect will see it. Are you typing a long, intimidating email that nobody will read? Are you attaching PDF brochures from your carrier that feel cold and lack a personal touch? Are you leaving inconvenient voicemails for your prospect to call you back?
Instead, what if you could turn on your webcam, share your screen, and record a quick video to walk your prospect through your proposal? Think about the power of that.
Not only does this immediately create a human connection with your prospect, but it also shows that you’re a different kind of agency. Simply put, people aren’t expecting to get a personalized video from you. It’s impressive. That alone is worth it.
Other uses for video proposals.
Of course, you can use these videos for things other than proposals. Think about the renewal process. Perhaps you set up a reminder a month or two prior to the renewal and send a quick video checking in.
Use it as an opportunity to ask account rounding questions, too. For example, if you provide their home insurance but not their auto insurance, or insure their business but not their personal assets, talk about it.
Where to get video proposals.
Many agencies use ActiveAgency, a website platform that includes the agency website and a collection of sales, servicing, and marketing tools. The Video Proposals feature is included. Learn more and schedule a demo.
Otherwise, there are freemium solutions like Loom (loom.com). There are some limitations with the free plan. And unlike Video Proposals, which is built into ActiveAgency, your prospects will see the Loom branding. With ActiveAgency, they’d watch the videos right within your website, so it’s a more professional, polished look.
Regardless of how you do it, start thinking about it. You don’t need to use video proposals for every proposal, but I bet there are plenty of situations where they’d be perfect.
Lights, camera, action!