Prospecting for property and casualty (P&C) insurance seems like an easy task. What differentiates a successful marketing effort against a failed one is the quality of prospecting and the marketing effort that goes into it.
It sometimes takes a different approach for an agent or a broker to convert a prospective client. SaaS solutions expert Zywave recommends P&C insurance marketing tools in creating presentation materials for these kinds of prospects.
Importance of P&C Coverage
Property and Casualty provisions span many insurance coverage types. It includes homeowners insurance, auto insurance, and even renters’ insurance. It also consists of a liability coverage as well as property protection coverage.
Property protection is insurance to cover the damage to your property. Depending on the property insured, it can be for accidents and may include loss due to natural phenomenon. Covered weather events are all listed in the insurance policy.
It might be necessary to include riders for damage due to specific natural disasters. P&C coverage also contains some third-party liability (TPL). Besides the use of TPL for vehicles, there is also a form of liability when a house guest suffers injury within the premises.
The homeowner may be liable for damages due to the injury. This has coverage under P&C insurance.
P&C Marketing Materials
The problem with P&C insurance sales is in the marketing materials for the proposal. Property insurance still requires the personal touch, as it is a matter of an agent discussing with the client the types of coverage available.
The client might have needs and requirements for his property, which do not have coverage under the standard insurance policy. P&C insurance is a recurring expense for businesses. They renew the insurance on a yearly basis. This is very true for homes as well as for vehicles.
It is up to the agent or broker to show the client what else is needed to have comprehensive insurance coverage. With the tools available now, such as the Zywave Broker Briefcase P&C, he or she can do this with relative ease.
P&C insurance is an umbrella term, which can be difficult for the agent to present to the client. Any proposal begins with the client presenting his needs and the broker to offer solutions. You need a meeting of the minds for the sale to progress.