How You Can Provide Advice and Close Contracts Digitally at Short Notice

Most field sales still happen by way of physical face-to-face, thanks to the coronavirus. However, this is hardly likely to happen at the moment. Closures are typically the biggest lever in salespeople’s remuneration. Many are seeing a sharp decline in their closure rates.

Five things insurers can do right now to help

Be pragmatic when it comes to video and phone advice

If your whole sales process is digitalised end to end you’re perfectly equipped. But you’re probably one of the majority of insurers who do not have a uniform, end-to-end, centrally aligned digital advisory solution in place on a broad base. Even so, you can still do something for your advisors and customers. Use solutions such as MS Teams that already exist within your organisation. If that’s not possible, give your advisors the option of using tools such as WhatsApp, Telegram, Facetime, or Hangouts to communicate with customers by video.

Help make sure people work professionally even by video

It doesn’t take much to make a professional impression even if you’re communicating with customers by video. Help your agents by providing guidelines on things like dress code, lighting, and setting. Put together a short collection of best practices on how to use online tools to compensate for the usual ways of communication & put forward a delightful customer experience.

Move away from wet signatures and physical documentation

There are already many companies providing legally watertight electronic signatures. Maybe you already use a solution of this sort. If you don’t, in many cases it’s possible to get one up and running in only two weeks.

Even if you don’t, you can make things easier by moving without a signature (often possible) or getting it later. When it comes to documenting discussions or fulfillment of the duty to inform customers, you can also ease things for the time being by recording reception of and consent to a document sent electronically by video.

Lead from a distance

Leadership is just as important – maybe even more important – if you’re not all sitting in the same office. We highly recommend you read the comprehensive article we’ve written on the subject.

The basic rules of thumb: Create structure, maintain personal contact, connect your staff, and don’t forget the importance of informal exchange, for example via virtual coffee breaks (maybe using a random generator to connect willing co-workers for coffee), or shared experiences after work (maybe a virtual group museum tour).

Learn from the positive lessons

The current situation isn’t easy. But we are learning valuable lessons for the future – about things like pulling together, pragmatic and uncomplicated help, advising people on the internet, or end-to-end electronic solutions. Keep this spirit alive, even once the crisis has passed.

Our experts in this topic