In this video, we share a cold call script for insurance sales. This script is part of a longer video in which we play a recording of a cold call by a salesperson selling business insurance. You can watch it here.

 

Background

This is an appointment-setting cold call for a company that offers a wide range of common business products. But one of their specialities is providing coverage for IT-related risks, such as data breaches and cybersecurity threats. With that, the strategy is to secure an appointment or conversation to discuss coverage for IT risks, as these are more unique and may be more likely to have coverage gaps

 

Cold Call Open

The first step in the cold call script for insurance sales is to open the call by saying something like:

​​Hi Tom, this is Michael Halper calling from Insure Pros.

Did I catch you in the middle of anything?

The second part of that is a question to confirm the prospect is available for the call. This question is very effective at establishing the call, decreasing guardedness, and buying a few minutes of time for the cold call.

 

Value Proposition

After you open the cold call, you can then share your value proposition by saying something like:

The reason for the call is that we help business owners to:

  • Improve their level of protection against a data breach
  • Decrease the liability and financial impact of a data breach
  • Make sure their insurance coverage is adequate and complete

I don’t know if you are a fit with what we do or not.

The last part of that is a sales takeaway, and it is extremely effective at reducing the prospect’s guardedness because it signals you will not try to push anything on them.

 

Questions

The next step in the cold call script for insurance sales is to ask a few questions. You could start by asking pain questions by saying something like:

If I could ask you real quick:

  • How concerned are you about getting hit with a data breach?
  • How would a data breach impact your business?
  • How do you feel about being protected if a data breach happens?

Depending on how the prospect answers, you can either mix in or transition to current state questions by asking questions like:

  • Does your business process credit cards?
  • Do you store and retain customer or employee data?
  • Does your current insurance include coverage for a data breach?
  • Have you ever a data breach?

You can always start out with current state questions and mix in pain questions. The difference between those different directions could be determined by the product you sell.

 

Pain Points

The goal of this cold call script is to have your questions uncover pain points or areas for improvement. But if they do not, you can then transition to sharing the pain points you help to solve by saying something like:

Sounds like you all are doing pretty well. But a lot of business owners we work with have challenges with:

  • You never know when you are going to get hit with a data breach
  • Data breaches are extremely disruptive and expensive
  • Most business insurance does not protect against the costs of a data breach

Are you concerned about any of those areas?

 

Product and Company Details

If you uncover pain points or needs the customer has, you can then transition to introducing the product you sell as a solution to those needs by saying something like:

 

Well, it might make sense to talk more because we provide business insurance:

  • Cover traditional risks like fire, lightning, and general liability,
  • Also cover the more modern risks that are only recently available, like data breaches and compliance with new privacy statutes

Some ways we differ:

  • 30 years IT Risk management expertise
  • We know the risks and we can quickly identify if you are good or if there is an exposure
  • We are a local Houston firm and you will have the personal face to face service

 

Customer Example

An optional step after you introduce your product is to share an example of a customer you worked with and helped. For insurance, you can share examples of businesses that were affected by the risk you are trying to cover, and that is what we included in this cold call script for insurance sales.

  • Michael’s craft stores recently experienced theft of customers’ credit card data
  • Sony PlayStation Network was hacked, revealing the protected data of users
  • City News Stand, Visa made him spend $22K just to investigate, and he only had about $40K of profit per year

 

Cold Call Close

After all of that, it is time to close, and we are not close for the purchase – we are closing for simply talking more in the form of conversation, appointment, or meeting, and can do that by saying something like:

 

But I have called you out of the blue, and I don’t know if this is the best time to discuss this.

Are you available for a brief call where we can look at your existing coverage and we can identify if there are any areas where you might not be completely covered and where risks exist?

 

We hope this cold call script for insurance sales provides helpful and new ideas for your sales efforts!