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InsuranceSplash Blog

The Perfect Insurance Agent Elevator Pitch in 4 Steps

11/7/2022

4 Comments

 
Today’s article was contributed by guest author Avery Manko from The Manko Company. Thanks Avery!
Let’s face facts: to the average person, insurance is not exciting or interesting.

Adding insult to injury, I’d be willing to bet that most folks think insurance is a necessary evil and are not thrilled about paying premiums.

Writing new business in an overcrowded marketplace is tough enough already, so when you sound like Ned Ryerson from “Groundhog Day”, the task to grow your book is even more challenging.
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I suggest a short, well-designed commercial known as an “elevator pitch.”

Imagine getting on an elevator and the person standing next to you asks what you do for a living. You now have less than a minute to pique their interest and hopefully get the opportunity for a future conversation.

Wouldn’t it be great to have something planned for such an occasion?

Let’s do it.

First – Create an Intriguing Yet Vague Headline

In order to craft the perfect elevator pitch, you first need an intriguing yet vague headline. I suggest something short and unusual.

For example:
  • “I have an unusual business in a not so unusual industry”
  • “If I told you what I did, you won’t believe me”
  • “I have a niche business.”
Hitting them with something different will create curiosity.

If you lead off with “I sell insurance” you lose the listener at the beginning.
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Second – Explain Who You Work With

Let them know the characteristics of the people you want to work with. This statement needs to convey to the listener a little bit about your ideal client.

Typically, the statement begins with the words “I work with…”

Here are some examples:
“I work with people who own homes and businesses in the Philadelphia area”
“I work with people who own more than one home.”
This is your chance to let the listener know what kind of business you’re looking for.

Third – Give an Example of Solving a Problem

The third step is to give the listener a short example of how you solved a client’s problem.

Typically, these statements start off with “I recently helped a client…” or “A business owner was referred to me looking for ways…“

Here’s an example of what this statement may sound like:
  • “I recently helped a client who’s financially successful. She purchased a multi-unit dwelling and she needed some options to reduce her liability and protect her other assets.”

​Be careful, the statement should be no more than 3 sentences otherwise you may sound like you’re selling.

Fourth – Explain The Insurance Part

Now you’re going to let them know who you are and that you’re in the insurance business but you need to do it in a way that maintains the curiosity.

Perhaps it would sound like
  • “I’m Bob Smith. I’m in the insurance business. My clients come to me because I have a unique skill in handling complex insurance needs.”

​The purpose of the statement is to create a distance between you and your competitors by letting the listener know that you specialize.

​Let’s Put It Together

So here’s what it sounds like when you put the whole thing together:
  • “I have an unusual business in a not so unusual industry. I work with people who own homes and businesses in the Philadelphia area. I recently helped a client who’s financially very successful. She purchased a multi-unit dwelling and she needed some options to reduce her liability and to protect her other assets. I’m Bob Smith. I’m in the insurance business. My clients come to me because I have a unique skill in handling complex insurance needs.”

Finally, here’s a few tips:

  • Write several statements for each of the 4 steps. Use them interchangeably depending on the situation.
  • When creating the statements, brainstorm about what makes up your perfect client and the problems you’ve solved for them. Saying that you save people money on their insurance will attract price shoppers; saying you work with responsible people may help you insure more responsible people.
  • Once you have created several statement for each step, practice, practice, practice!
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About the Author:

Avery Manko is the owner and founder of The Manko Company, a promotional products distributor that specializes in helping insurance agents. He offers a lot more than great products, prices, and service. Working with Avery you get an experienced and knowledgeable insurance promotional products consultant. Connect with Avery on LinkedIn.
If you’re an insurance industry expert and would like to submit a guest post for the InsuranceSplash Blog CLICK HERE.
4 Comments
Victoria Addington link
8/11/2022 08:40:02 am

It was most captivating when you mentioned that you can insure more clients by stating you work with reliable people. My friend wants to grow her leads for medicare insurance. I should advise her to seek help from a company that specializes in medicare insurance agent leads.

Reply
Isabella Taylor link
6/28/2023 01:39:11 am

I couldn't agree more with Avery's advice on the elevator pitch. I vividly recall a time when I stepped into an elevator with a potential client, and by using a headline like "I have an unusual business in a not so unusual industry," I instantly sparked their curiosity. Explaining that I work with people who own multiple homes and sharing a recent success story about helping a financially successful client protect their assets, I saw their eyes light up with interest. It's all about creating that distance from competitors and showcasing your unique skills. Thank you, Avery, for sharing these invaluable tips!

Reply
Waterloo link
7/3/2023 06:56:37 am

Being an insurance agent is not an easy job. You must create an effective pitch to get more clients. These tips are so helpful.

Reply
Natalie Wilson link
9/24/2023 09:01:21 pm

Absolutely relished Avery Manko’s insightful piece on crafting a stellar elevator pitch on InsuranceSplash Blog! It vividly took me back to a time when employing a similar approach, my quirky opener “I turn mundane into magical” sparked a riveting conversation, landing me a fruitful collaboration in a crowded elevator ride. The blend of intrigue and specificity is indeed the secret sauce for standing out in the insurance jungle!

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