Insurance
Sales Assessment Results
67
Developing Closer
10 questions
Maximum score: 100
Completed in
You've shown some promising skills in your responses, particularly with solution-focused selling and consultative techniques. The ability to ask clarifying questions and demonstrate curiosity is a huge asset, especially in the insurance industry where understanding client needs is crucial. However, the inconsistency in your performance signals that you need to tighten up your approach. You tend to err on the side of being a bit too direct or dismissive at times, which can come off as lacking empathy. This is a critical area for growth; remember that your prospects are looking for someone who understands their concerns, not just someone who wants to close a deal.
To elevate your game, focus on practicing objection handling and closing techniques. Mastering these will not only help you respond to concerns more effectively but will also guide you toward actionable next steps in the conversation. Think of every interaction as a collaborative journey rather than a sales pitch.
Here's your coaching moment: Empathy is not just a nice-to-have; it's your secret weapon. The more you can connect with your prospects on a human level, acknowledging their needs and emotions, the better your chances of building trust and closing deals. Take a moment to reflect on how you can infuse more understanding and collaboration into your conversations. You’ve got the foundation; now build on it!
Question Breakdown
1.
4
/ 10Question:
"We're currently evaluating our budget for insurance, and I'm not sure if we can allocate funds for this right now."
Answer:
Do you have funds allocated for a medical emergency such as a fall, or a heart attack that would take you out of work?
Feedback:
The response attempts to pivot the conversation to the importance of having funds available for emergencies, which is a clever approach. However, it lacks empathy and fails to acknowledge the prospect's current budget evaluation process. A more effective response would involve asking follow-up questions to understand their budget constraints better, exploring their needs more thoroughly, and demonstrating how your insurance solution could fit into their financial planning. Additionally, incorporating a closing technique, such as suggesting a follow-up conversation when their budget is clearer, could strengthen the approach. Overall, the response could have been more solution-focused and collaborative.
Score: 4/10
2.
7
/ 10Question:
"I need to see how this aligns with our current vendor agreements before making any decisions."
Answer:
How can I show this to you alongside your vendor agreements to make sure it can be a good fit? Not everyone is a good fit for our products either. We want to make sure it fits from both sides.
Feedback:
The response effectively addresses the concern by asking how your offering can be evaluated in the context of existing vendor agreements, which shows a willingness to collaborate. It acknowledges that compatibility is important for both parties, aligning with a consultative approach. However, it could benefit from more active listening and curiosity—perhaps asking questions about specific aspects of their current agreements that are most critical to them. Additionally, introducing a closing technique, such as suggesting a follow-up meeting to discuss this further, would strengthen the approach. Overall, it's a solid start but could use some refinement in engagement and closing strategies.
3.
8
/ 10Question:
"Can you clarify how your coverage compares to our existing provider?"
Answer:
I would love to. Can we pull out your current product and compare? We want to make sure we compare apples to apples and not apples to oranges. Is there anything missing in your current product that you are looking for in a new product?
Feedback:
The response effectively addresses the objection by suggesting a direct comparison of the current product with the proposed coverage, which aligns with a solution-focused approach. The use of the "apples to apples" analogy is a good way to clarify the need for an accurate comparison. Additionally, the follow-up question about any missing elements in the current product demonstrates curiosity and a desire to understand the prospect's needs better. However, the response could benefit from more explicit acknowledgment of the prospect's concern and some reassurance regarding the value of the new coverage. Overall, it maintains a friendly tone appropriate for the insurance industry, but could enhance engagement by building more rapport before diving into the technical comparison.
Score: 8
4.
7
/ 10Question:
"I'm concerned about how quickly we can implement this solution given our existing commitments."
Answer:
Where is this concern coming from specifically and how can I help ease that concern? What are your existing commitments? Can I look at those with you and see if we can problem solve to find a more comfortable time frame for implementing this?
Feedback:
The response effectively addresses the prospect's concern by asking clarifying questions and expressing a willingness to help. This approach shows curiosity and a desire to understand the client's situation better, which is crucial in the insurance industry where trust and relationship-building are key. However, it could have been strengthened with a more proactive assurance regarding the implementation process or showcasing past successes in similar scenarios. Additionally, a closing technique that suggests a next step—like scheduling a follow-up meeting—could improve the effectiveness. Overall, it's a solid response but lacks a bit of assertiveness in addressing the implementation timeline directly.
Score: 7
5.
8
/ 10Question:
"We've had a negative experience with a similar provider in the past, which makes me hesitant."
Answer:
What created that negative experience, Ms how can I provide you with comfort that we are not the same? Can I give you some references of other customers who have had very positive experiences? I understand the hesitation, and would be more than happy to back up and go back over your particular area of concern.
Feedback:
The response effectively addresses the concern by asking for details about the previous negative experience, which aligns with the curiosity and discovery aspect. It shows a willingness to understand the prospect's issues and offers to provide references, demonstrating a solution-focused approach. The tone is appropriate for the insurance industry, as it acknowledges the prospect’s feelings and seeks to build rapport. However, it could benefit from a stronger closing technique to guide the prospect towards a next step. Overall, it’s a solid response but lacks a bit of assertiveness in moving towards a resolution.
6.
6
/ 10Question:
"With the economic climate being what it is, how can you guarantee value and ROI?"
Answer:
I cannot guarantee your ROI, but I want to reassure you I still believe it is there. I believe in it so much that I have this product, and have provided this to friends, and family based on my confidence that the product delivers as presented. I believe having insurance in this economic climate is a hedge against loses in other areas and would love to show you how to structure it to best serve your financial planning, and goals.
Feedback:
The response addresses the objection by acknowledging the inability to guarantee ROI, which is honest but could be perceived as a lack of confidence. Instead of focusing on personal belief, it would be more effective to provide specific examples or data that illustrate the value of the insurance product in economic downturns. The mention of structuring the product to meet financial goals is a positive note, indicating a consultative approach. However, the overall communication could be clearer and more compelling, possibly incorporating a closing technique to encourage further discussion. Asking questions to better understand the prospect's specific concerns and needs would also enhance the response. Overall, the effort to relate personally is good, but it lacks strong supporting evidence and a more proactive closing approach.
Score: 6
7.
6
/ 10Question:
"We have pressing priorities at the moment, and I'm not sure this is the right time to switch."
Answer:
I think everyone faces the question of timing when there is change involving finances. There is no right time, but be certain that if you don’t make the switch to the better product now, the financial cost of delaying will be far greater.
What pressing priority are you most concerned with? How can I help you with goal? Perhaps I know someone that can help with one of those goals by getting you in a position that actually makes space for this priority.
Feedback:
The response acknowledges the prospect's concern about timing, which is a good start. However, the initial statement could be perceived as slightly dismissive of their current priorities. Instead of emphasizing that there is never a 'right time,' it might be more effective to validate their priorities and express understanding. Asking about their pressing priority is excellent as it shows curiosity and a desire to help. Still, it could be more impactful if the salesperson tied the urgency of making the switch to those specific priorities to create a stronger connection. Overall, the response is decent, but it lacks a bit of empathy and could benefit from a clearer connection to the prospect's needs.
8.
8
/ 10Question:
"What measures do you have in place to ensure ongoing support after the purchase?"
Answer:
I will provide you with multiple ways of contacting me, as well as a rep for me if I am unavailable. I will send a portfolio of your products with clear explanations of the highlights of each and after a couple of weeks living with that new product I will schedule a stop to address any questions that may have come up. After that I will do quarterly check ups, and of course if there are any life changes such as marriage, baby, risks etc:, I will come to you to review your policy and help you make needed adjustments.
Feedback:
The response effectively addresses the prospect's concern about ongoing support by outlining multiple contact methods and a proactive approach to follow-ups. The salesperson demonstrates clear communication and shows a commitment to customer service, which is crucial in the insurance industry. However, it could benefit from a more collaborative approach by asking the prospect if there are specific support measures they are particularly interested in. This would enhance curiosity and discovery, ensuring the prospect feels heard. Overall, the response shows value exploration and a structured support plan, but it could improve slightly in engagement and asking thoughtful questions.
Score: 8
9.
7
/ 10Question:
"I'm worried about compliance and whether your solutions meet all our regulatory requirements."
Answer:
I would love to solve those concerns for you. I can show you our licenses that are granted to us as the regulations and requirements are met. I can show you our SOPs that are followed to ensure conditions are met to be consistent in how we show up for our valued clients.
Can you tell me more about what your expectations are?
Feedback:
The response does a decent job of acknowledging the concern about compliance, which is crucial in the insurance industry. However, it could be strengthened by providing more specific details about how the solution aligns with regulatory requirements beyond just mentioning licenses and SOPs. The question at the end is a good touch, showing curiosity and a desire for discovery, but it might have been more effective to elaborate on the compliance aspects first to build confidence before asking. Overall, the tone is appropriate, but there's room for improvement in demonstrating value and clarity.
Score: 7
10.
6
/ 10Question:
"Our stakeholders are quite risk-averse; how can you help me persuade them to consider your offering?"
Answer:
I would pull our Better Business Bureau profile. I would look up our AM Best rating. I would ask their concern in an investment scenario. Look at the re-insurer, and hoŵ they would be part of the picture if a negative situation were to happen. Ask if I could arrange a meet and greet dinner with other investors who may be able to calm their cool feet.
Feedback:
This response shows a good understanding of the importance of trust and credibility in the insurance industry. However, it could be more structured and solution-focused. While referencing the Better Business Bureau and AM Best rating demonstrates a commitment to transparency, it lacks a direct approach to addressing the stakeholders' risk aversion. Asking about their specific concerns is a strong point, but it would be beneficial to lead with a clear value proposition that emphasizes how your offering mitigates risk. The idea of arranging a meet and greet is a nice touch for building rapport, but it should be framed as a way to facilitate direct dialogue about their concerns rather than just a social event. Overall, the response could benefit from a clearer and more persuasive narrative.