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

Updated: Apr 15

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

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

Cross-sold leads have the highest close rates of any marketing source at 85% and clients with multiple policies have a much lower probability of cancelling with your agency than mono-lined customers.

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

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

This form is a simple questionnaire about the risks your clients face compared to the coverage they currently have.

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 life changes that have taken place recently.

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 helps them 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.

Second, It Helps Prepare You for The Meeting

When conducting customer insurance reviews, the perception your customers have of you is extremely important.

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 insurance review meetings, you’re able to customize your meeting 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 long term goals your clients have such as retirement or savings, you are able to 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.

The best time to have a customer fill out an assessment is before the annual customer insurance review meeting.

Click here for a free Needs Assessment Form Download!

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