Patrick Biebersmith didn’t know he’d be selling insurance for a living when he began studying electrical engineering in college. In fact, he’d never had a good experience with agents he’d dealt with in the past.
It was after Biebersmith was laid off from a job as an electrical engineer that it first occurred to him that maybe he could actually help people as an insurance agent. He wanted to be different from the agents he’d met in the past. He was thrilled to find out that this new career would also afford him more time with his children because he could work from home.
Today, Biebersmith is a Farmer’s captive insurance agent and he sells all lines of insurance except health insurance. He was immediately interested when he heard about the Farmer’s cost-share program with SmartFinancial, which Farmers has made available to captive agents nationwide: Farmers will reimburse agents 50% for the cost of commercial live-transfer calls from SmartFinancial. Folio billing is available too and can be used with all types of insurance calls and data leads.
Biebersmith began working with SmartFinancial on October 23, 2019. He opted for the commercial live-transfer calls over the other options. Little did he know that he’d close the first of 7 leads right away! He then closed 3 more and expects to close another 2 within a week. That’s 6 out of 7 leads, an impressive closing ratio!
“I’m lucky to be able to take direct transfer calls and pair each business with one of Farmers’ related companies,” Biebersmith explains. There are several companies owned by Farmers that offer commercial insurance. “It’s my job to match each business with the right product,” he said.
To date, he expects $8,300 in premiums from the seven leads he bought from SmartFinancial. Biebersmith’s thorough knowledge of the commercial products Farmers offers to different types of businesses is his secret to great success!
Tips for Agents, from Patrick Biebersmith of Farmers
Let the insured tell you what they want in great detail and take notes. Especially with commercial insurance, owners often are unsure what’s available to them or what they really need to be adequately covered. You should advise the customer based on the type of business they own.
Show Your Expertise
There are so many different types of coverages available to businesses, but some don’t apply to specific types of business while others do. You should know the insurance products you are selling well enough to know how to apply the right coverage to what a customer does. If you don’t know what you’re selling, you won’t be very helpful to the client.
The customer must understand the information about coverage to make an informed decision. It’s important for you to do whatever you need in order to explain clearly.