6 Objection Handling Insurance Agent Strategies

Strategies for Success

I recently had the pleasure of interviewing screen-sharing expert Gilsi Sigvaldason, co-founder of CrankWheel^®, to get his insights on how objection-handling insurance agents can overcome common roadblocks and close more sales over the phone.

CrankWheel provides visual sales software that enables real-time screen sharing on any device during calls to help agents explain policies clearly and build trust with prospects.

A LinkedIn survey found that only 51% of sales reps are confident in handling objections, indicating a need for better training on strategies like “feel, felt, found.”

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According to Gilsi, visuals are absolutely essential for overcoming objections when selling complex products like insurance:

“To explain something complicated, for example, a policy over the phone and hoping that the end user will understand it, I think it's just impossible. You have to show it.”

Proven Objection Handling Insurance techniques

Here are six proven objection-handling techniques insurance agents can use to turn more prospects into customers:

1. Clarify the Objection

When a prospect objects, resist the urge to jump in immediately with a response. First, use active listening skills to clarify the specifics of their concern. Phrase it back to confirm you understand.

As Gilsi explained, it's crucial to hear prospects out:

“A lot of agents that come to us to explain actually what they like most about is how simple it is to get people connected.”

2. Ask Questions

Ask open-ended questions to uncover the root of the prospect's hesitation. Get them to explain their concerns so you can use your objection-handling Insurance techniques to overcome them. Often, there is a deeper issue or misunderstanding behind it.

Ask open-ended questions to uncover the root of the prospect's hesitation. Get them to explain their concerns so you can use your objection-handling techniques to overcome them. Frequently, there is a deeper issue or misunderstanding behind it.

When you encounter an objection, don't get defensive. Pause, listen closely, and acknowledge it in a friendly, non-confrontational way. This builds trust and shows you care about their needs.

Have objection rebuttals ready, but tailor your responses to the prospect's concern. Don't rely on scripted “one size fits all” answers, or you'll sound robotic. Address the real issue.

Visualize comparisons, scenarios, and specifics to overcome vagueness. Showing is clearer than telling for complex policies. Lean on CrankWheel's screen sharing to demonstrate value.

Follow up after addressing the objection to confirm it's resolved. Ask, “Does this help explain the coverage limitations?” or “Do you feel more comfortable with the monthly premium now?”

Patience and empathy are key. Take objections seriously and overcome them by focusing on the prospect's viewpoint, not just pushing your agenda. This establishes credibility.

3. Provide Visual Proof

Leverage visuals to address objections and concerns. For example, instantly show policy details, comparisons, rates, etc., to overcome price objections. Visuals are persuasive.

Gilsi emphasized the power of visuals for building trust:

“You have to show it. So the usual use case will be, hey, I'm going to send you a calendar invite tomorrow. Can you show it to me then? But what if we could meet now, I just sent you an SMS for an instant meeting.”

4. Share Success Stories

Social proof is influential. Share relevant success stories of other customers who had the same objection but found your solution the right fit.

As Gilsi said:

“We have agents that are using, we have maybe agents that are using us up to, you know, some are using 100% and it's really common that it's 60, 70, 80% that are using us to the mobile.”

5. Summarize the Value

Remind prospects of how your solution solves their needs or pain points. Help them see the significant picture value beyond just the objection.

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6. Suggest a Trial

For stubborn objections, propose a free trial, sample, or demo so prospects can experience your solution firsthand before fully committing. This gives peace of mind.

The key is tailoring your objection-handling approach to the individual prospect. Show you are listening and determine the real root of their concern.

According to Woodpecker, word-for-word rebuttal scripts can defeat the top 10 most common insurance sales objections. This shows that having a prepared response to common objections can increase your chances of success.

Overcoming Sales Objections with CrankWheel

Tools like CrankWheel make overcoming objections much more accessible by enabling agents to share visual proof points during calls instantly.

For example, agents can immediately pull up custom quotes, comparisons, testimonials, and other materials tailored to that specific prospect's objection. This builds credibility and trust.

According to Gilsi:

“To explain something complicated, for example, a policy over the phone and hoping that the end user will understand it, I think it's just impossible. You have to show it.”

The ability to visually address objections in real time is a game changer for insurance agents to close more sales.

If you enjoy reading about handling objections when selling insurance, check out my related post, “How To Sell Insurance Over The Phone” for tips on having effective phone-based conversations to move prospects forward in the sales process.

Results from Top Insurance Agents

CrankWheel users have seen dramatic improvements in sales conversion rates by leveraging visuals to overcome objections:

• Some U.S. agents increased sales by 40-80% by showing visual proof that was impossible over the phone alone.
• Agents now use CrankWheel for 60-80% of calls instead of booking meetings.
• SDRs use CrankWheel for short policy presentations on cold calls to preemptively address concerns.

Data from Chorus shows that high-performing reps spend almost twice as much time handling objections compared to average reps – 28% vs. 15% – driving higher win rates.

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Key Takeaways

• Active listening and asking questions are key to uncovering the root of objections.
• Instantly sharing visual proofs tailored to the objection is extremely persuasive.
• Remind prospects of the value your solution provides for their specific needs.
• Propose a free trial to let prospects experience it firsthand.

With the proper objection-handling process, insurance agents can confidently turn more prospects into satisfied customers. Tools like CrankWheel make it seamless to address concerns visually in real time during calls.

To experience CrankWheel's visual selling capabilities for yourself, get a free 14-day trial of CrankWheel here.

Listen to our Software Spotlight podcast episode featuring CrankWheel: Childhood friends Gilsi Sigvaldason and his co-founder created screen-sharing software CrankWheel to simplify sales calls and demos. Integrating email, calendar, and tools to capture interactions effortlessly, CrankWheel’s timeline visualizations help agents sell faster by sharing screens on any device without prospects downloading anything.