Tag: Motivational Sales Speaker

Change is All-Around Us, It’s Time to Rise Up

 

As a motivational speaker for the insurance and financial services industry, I have never seen as much sweeping change as we are experiencing now. I say this as someone who worked in the industry and made it to the Million Dollar Round Table and who carefully follows every industry development.

2020 changed everything, but 2021 will raise those changes to a whole new level.

Regulation 187 and Beyond

The amendment known as New York State’s regulation 187 is just a number to some, but it signaled the start of sweeping change in the insurance and financial service industry. Though its origins go back, to pre-pandemic 2019 it picked up steam across the nation.

Bill Unrue, industry insurance expert said at the start of 2021:

“The rule requiring insurers to act in the best interest of the consumer will likely become the standard for the U.S. life and annuity insurance industry over the next few years. The rule demands more simplicity and transparency within the annuity and life insurance sales experience to prevent what some call “consumer financial exploitation.”

In addition to the changes moving us all to greater transparency, more clarity and policy language that’s easier to understand, is another trend that can no longer be ignored: the 2021 Digital Climate.

Retail and commercial consumers are comparison shopping online as never before. And, what is surprising, are the consumers of that insurance. In a CNBC article on “panic buying” of insurance during the pandemic (October 21, 2020), it was found that:

“There was a 13% increase in life insurance applications among the under-44 age group in the third quarter versus Q3 2019, compared with a 9% jump for 45- to 59-year-olds and 0.4% in the 60-plus category.”

While the industry saw a jump in insurance sales in 2020, and that finally, more Americans are getting insured after years of decline. The so-called panic buying during the pandemic also meant that transparency was at an all-time high and climbing. The Millennial buyer, being an early adopter of all things digital, is seeking easy-to-find comparative coverage rates, superior, online customer service and a commitment of insurers to offering ethical and crystal-clear language as never before. What’s more, with states adopting similar rules to New York State’s regulation 187, anything put out online will be subject to intense scrutiny.

What is Your Vision?

You can turn your insurance and financial services future into a tremendous opportunity, and it’s apparent that customers are receptive as never before, but it’s going to take every ounce of your vision to make it happen. Do you have that vision?

Your mindset must be to offer exceptional and transparent customer service, to be as digitally savvy as you can be and to offer product that is unquestioned on the basis of its comparable value. Pre-pandemic, Americans had fallen off insurance purchases, now it is up to you to take advantage of the renewed interest. Can you embrace that mindset?

However, understand this is not the same industry that it was less than five years ago. It can be better, but it is up-to-you.

To be successful, will take the daily grit to outwork the competition and to convey the importance of what you are doing and why your mission is so important. You can be successful, but it is a commitment as never before.

 

Contact Scott Burrows, Insurance & Financial Services speaker for your next event, through this website or his office at: (520) 548-1169

 

What Does It Mean to Be a Resilient Sales Team?

          When I speak to sales teams about resiliency, it’s not difficult to feel passionate about it. As the result of an accident that landed me in a wheelchair and quickly ended a successful sports career, I had to develop the mindset to climb back into the ring of life. I was forced to push through painful and often overwhelming physical circumstances with focus and resiliency, while at the same time reinvent my life and adjust my mindset to a new career in sales as an insurance and financial advisor.

You are more than words

Dr. Alia J. Crum is one of the world’s leading authorities on stress. In 2013, she co-wrote a brilliant article entitled “Rethinking Stress: The Role of Mindsets in Determining the Stress Response.” Her article focused on stress and negativity. To quote from her findings:

“Stress is [often] portrayed in a negative light…the intention of these depictions is to help prevent or stem the negative effects of stress: however, if the self-fulfilling nature of mindset exists, the result of such prophesy may be counter effective. Repetitive portrayals of stress in a negative light not increases the possibility that we form the mindset that stress-is-debilitating…”

This finding is important for sales teams who are facing challenges. What Dr. Crum is saying is that if a sales team wills itself to say, “We’re under so much stress to produce, we don’t know what to do. We might as well give up.” The team will come to believe that it can’t overcome the adversity it is facing; the team will lose its resiliency to find new solutions. It will, in fact, will itself to become crippled.

The American Psychological Association in its paper, “The Road to Resilience” gives 11 keys to overcoming major challenges. Among the more important keys to avoid seeing a crisis as an insurmountable problem is to develop resiliency, to accept that change is a part of living, to always be moving toward goals, and to not be afraid to take decisive action.

Your sales team may be confronted with major competitors, a shift in the economy, new technologies or even a shakeup in your organization. It doesn’t mean there aren’t solutions.

Resiliency is about finding a new way to take action. Your vision and mindset, combined with the determination to overcome the adversity of what is in front of the team will make you successful.

The sales professional website, Salesforce.com, sees resilience as the way to overcome negative messages. In order to overcome adversity, they advise that sales teams should build trust, build accountability, build commitment, and that you should build your team and most importantly work on building yourself.

I rose out of my bed because I trusted those around me, I made myself accountable for what I could do, I made a commitment to myself and to my therapists, I resolved to be a strong member of my sales team and I never let my mindset settle for anything less than my best. Sales people and sales teams can become more resilient.

Is your sales team ready to accept the task of becoming more resilient to the challenges you are facing? The best sales teams are the most resilient. Taking the first step may not be easy, but taking the first step never fails to lead to the next.

 

Contact Scott Burrows, World-Class Inspirational Speaker on Creating Resilient Sales Teams through this website or call us at: (520) 548-1169