The Future of Insurance – Bryan Falchuk with Sales Advice for Vendors

Episode Info

After a series of conferences where I saw some sales tactics that were having the opposite effect from what the person employing them would have wanted, I thought I'd use an episode to share some of the advice I give to companies I've advised over the years. It's informed by my direct experience having been an executive at insurance companies who got sold to, and running the sales function for a B2B SaaS insurtech solution provider.

Hopefully this is valuable to anyone trying to sell into the insurance industry (and to those of us on the receiving end of those sales efforts!).

Episode Summary

This episode provides insights into effective sales and networking strategies for those selling to insurance companies. It challenges conventional sales tactics and emphasizes the importance of personalized and informed approaches.

Key Points:

1. Personalized Outreach:

   • Avoid blanket approaches like mass emails or messages. Instead, invest time in understanding if the recipient is a genuine prospect.

   • Tailor your messages to address specific needs and demonstrate genuine interest.

2. Challenges with Conventional Tactics:

   • Many sales playbooks advocate for reaching out to everyone, but this often leads to brand damage and wasted efforts.

   • The video argues that the insurance industry requires a different approach due to its unique nature.

3. Effective Networking:

   • Utilize platforms like LinkedIn for meaningful connections rather than relying solely on event apps, which are often underutilized.

   • Be mindful of social etiquette, such as not interrupting ongoing conversations or meetings.

4. Building Relationships:

   • Focus on being informed and culturally aware to foster genuine relationships.

   • The goal is to reach a point where the prospect feels understood and sees you as a potential solution to their challenges.

5. Practical Advice:

   • Spend a few moments researching potential clients to ensure they are the right fit.

   • Be upfront about your intentions to avoid wasting time on both sides.

This episode is brought to you by The Future of Insurance book series (future-of-insurance.com) from Bryan Falchuk.

Follow the podcast at future-of-insurance.com/podcast for more details and other episodes.

Music courtesy of Hyperbeat Music, available to stream or download on Spotify, Apple Music, and Amazon Music and more.