The Biggest Change is Mindset
As an insurance sales speaker who started his career in insurance and financial services, the progression of the industry continues to hold my interest and concern. According to the U.S. Bureau of Labor Statistics over the next decade, insurance sales positions should maintain a healthy growth of +6 percent. In 2021, not exactly a banner year post-pandemic, more than 523,000 jobs were created. So why aren’t sales reps feeling optimistic?
Change is difficult
Industry experts point to the great future of automation of rote tasks and, of course AI (artificial intelligence). Many reps believe those two trends will come together to eliminate jobs. However, industry predictors see the opposite in this time of change.
The rise of AI can improve underwriting, product distribution and the whole range of services and organizational management to make for a better work environment in which to sell, provide superior customized services and in fact, retain reps by eliminating drudgery.
So why the pessimism? Fear of change.
Change requires insurance industry sales reps to be more flexible in their thinking, more agile to client demands, more open to the fact that an optimistic outlook and an interdependent relationship between people and AI can improve life for anyone who sells.
Interdependency is a mindset
Interdependency must be a key component, a crucial mindset of anyone who wants to work in insurance sales from this time forward. The demand to accept this computer and sales rep relationship requires a willingness to educate, empower and communicate.
Education is a major task required of any sales rep. Not only the “required product materials,” but competitive products, tracking the greater picture of economics, trends and anticipated pressures.
Empowerment comes when the sales rep understands that change is not to be feared but embraced and that knowledge is power. Having the biggest voice in the room means little; having the breadth of knowledge to serve customers means a lot.
Communication doesn’t mean “talking,” but active listening and understanding the needs of your clients. However, it goes beyond that in this “new normal.” Communication between team members and support staff is critical. The old “need-to-know” attitude does not go far in this new information age. Once communication breaks down, it invariably leads to an open invitation to the competition.
Every sales rep must develop a mindset of “team.” Every insurance sales rep is interdependent.
The new normal requires a mindset of renewed determination to educate, empower and communicate. While AI and expanded automation of tasks may seem intimidating, where it all leads is to an improvement in customer service. Everyone in the office has no greater vision than the vision to be there when needed.
If change is feared, then so is opportunity. After all the industry has been through these past few years, there is no change that is more powerful than your ability to handle it.
To reach Scott Burrows, Insurance Sales Motivational Speaker, contact Scott today by phone at: 520 – 548 – 1169 or through this website.