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3 Reasons a Needs Assessment Form is One of Your Best Sales Tools

Updated: Sep 21, 2022

This blog post was originally published on the Engagex blog on August 13th, 2020.
Updated and republished on February 23rd, 2022.

Up-selling or cross-selling existing customers can be one of the most significant sources of growth and revenue for an insurance agent.

Cross-sold leads have the highest close rates of any marketing source at 85%!

Clients with multiple policies have a much lower probability of canceling with your agency than mono-lined customers.

A tool that is sometimes under-utilized is the customer needs assessment form.

Insurance staff member sits at her desk and calls customers to follow-up

This form is a simple questionnaire about the risks your clients face compared to their current coverage.

It is given to your clients to complete before insurance review meetings and covers auto, home, liability, life, and many other insurance needs.

It gathers information about long-term goals like retirement and education.

It identifies the top concerns your clients have and any recent life changes.

Here are 3 reasons why the needs assessment form can be the best sales tool you have:

First, It Makes Your Clients Think

Sales are usually easier to close when the customer already knows what they want.

People don’t like to be sold to, so any time you can help the customer think the sale is their idea, you’ll have greater success, and the sale will be smooth.

The needs assessment form gets your customers in the right mindset.

It helps organize their thoughts and allows them to recognize exactly what they’re missing and where their vulnerabilities are.

This way, you aren’t telling your client what insurance policy to buy; they’re identifying their own needs and essentially asking you to sell to them.

Young couple looks over their current coverage with their insurance agent.

Second, It Helps Prepare You for The Meeting

When conducting customer insurance reviews, your customers’ perception of you is critical.

You want to have the image of a trusted advisor who is strong and competent.

You want your customer to know that you are aware of their situation and that you’ll take care of them.

By reviewing a completed customer needs assessment before customer the insurance review meeting, you’re able to customize your appointment to each client.

Review the needs assessment and make notes about how their concerns or life changes relate to their current coverage so you can be sure to mention it during the meeting.

Building a solid reputation with your customers increases their long-term retention and makes them more comfortable opening new policies with you.

Third, It Gives You a Glimpse of the Future

By identifying your clients' long-term goals, such as retirement or savings, you can continually look forward to ways to help them meet these goals.

Keep completed needs assessments in the customer’s file so you can look back periodically.

Even if it is years later, you can make sure customers are on track and that you are doing the best job you can do.

If you aren’t utilizing the customer needs assessment, you should start now.

Needs Assessment Worksheet-V2
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