Insuring Animals: 5 Ways To Sell Pet Insurance
9 Oct 2017
We all know that most people treat their pets not just as animals but as a member of their family. And just like us, these cats, dogs, rabbits, birds, reptiles or fish can find their way into accidents, get injured and be susceptible to chronic and serious illnesses. That’s why pet owners are willing to spend that little bit extra to ensure the well-being of their little beasts by investing in a pet insurance policy.
As an insurance broker, it’s your job to address your clients’ concerns by bringing them to insurers with the right pet policies offering the best coverage for their needs. Having pet insurance can greatly help your clients in the event of an expensive trip to the veterinarian.
Despite the rising number of people purchasing protection for their animals, there are still some taking the risk by not insuring their pets. Perhaps they're reluctant to spend money on something that’s generally deemed as expensive and unnecessary? In a worst-case scenario, some pet owners may end up borrowing money from friends and family or even resort to creating a crowdfunding page to pay for expensive operations and treatments. Therefore, suggesting pet insurance may result in a rejection.
Here are some helpful know-hows on how to sell products with pet coverages:
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Ask your prospective clients about their worries with pet-related health issues
Picking up information here and there from potential clients can give you an idea of what they’re looking for with regards to the health of their furry (or scaly, feathery) best friends. Even though owners might have different problems and experiences, more often than not, they share the same worries when it comes to their pet’s welfare.
Maybe they’re afraid their pets might fracture a paw, ingest something like a piece of wood or require a neck cone after a nasty fall or ear infection. Aside from injuries, owners may also be anxious about the chronic conditions their pets may have. For example, kidney failure and hip dysplasia are common ailments for cats and dogs. Not to mention AIDS-related illnesses and cancers which require very expensive treatments and medication.
It's likely that money would be the deciding factor in purchasing a policy. Take into account these essential titbits of information your clients share with you as it’s vital for the next step.
Try to match their dilemma to the features/benefits of the policy you’re about to suggest to them
After lending a sympathetic ear to your clients, start digging into your list of insurance products and find the perfect match for them. The key here is to think of a possible solution to their problems – after all, that’s what insurance is for. If your clients are only looking for something that would protect their animals from third party liabilities, you can suggest getting an accident-only cover. It’ll reimburse the bills from the vet if their pet gets into an accident, but won’t do the same for illnesses.
On the other hand, if your clients can afford it, you can suggest opting for an annual or lifetime cover that will look after their pet’s illnesses and injuries, with annual or indefinite options.
There are some policies out there that can provide payments for routine treatments (eg vaccinations, check-ups, flea and worm treatment, etc). But whilst it’s a great option to suggest, it can ultimately be more expensive.
Craft your pitch as if you're a pet owner yourself (even if you aren’t one)
Make it personal. If you’ve ever had a dog who suffered from a virus (such as Parvovirus), share what you’ve been through from seeing your hairy friend vomiting, going to the vet, watching the doctor inject antibodies into your pet’s body and assisting in their recovery. All this might not be affordable without the safety net of pet insurance. As an owner (or an imaginary one), you’d know how much of a stress or a loss that situation can be. Finding a common ground and building trust with your clients will definitely help you.
Remember, people pay for products/services they know could solve something for them – not just because they want or need it
Gone are the days when people casually spend money. Today, consumers tend to be smarter buyers. As a broker, you should always be willing to take the extra step of assuring your clients that buying a pet insurance policy will benefit them and their pets in the long run.
When explaining the terms and conditions, take the accessible route
It’s already complex enough for ordinary consumers. Spare your clients the hassle by relating some real life examples on how they can utilize the coverages offered by an insurance policy so that they’ll know when and how to take one out. Don’t forget to mention and emphasize what’s excluded in the policy such as pre-existing conditions, any breed-specific conditions or if their policy doesn’t cover wellness.
Break down the calculations of what they’re going to pay and how much they’re covered for. As a broker, you are their intermediary into a safe and secure future for their pets, so always act in their best interest. The welfare of their pets should always be at the top of your mind.
For up-to-date product listings of pet insurance products, log-in to Insurr here.
Other pages of interest:
‘I owed it to Jagger’: Retired crime-fighting dog battles bone cancer while vet bills mount by National Post on September 21, 2017
Pet insurance can take the bite out of health costs by Aleksandra Sagan on May 8, 2017
Pet insurance complexities could drive brokers barking mad by Insurance Business on April 19, 2017
As an insurance broker, it’s your job to address your clients’ concerns by bringing them to insurers with the right pet policies offering the best coverage for their needs. Having pet insurance can greatly help your clients in the event of an expensive trip to the veterinarian.
Despite the rising number of people purchasing protection for their animals, there are still some taking the risk by not insuring their pets. Perhaps they're reluctant to spend money on something that’s generally deemed as expensive and unnecessary? In a worst-case scenario, some pet owners may end up borrowing money from friends and family or even resort to creating a crowdfunding page to pay for expensive operations and treatments. Therefore, suggesting pet insurance may result in a rejection.
Here are some helpful know-hows on how to sell products with pet coverages:
Ask your prospective clients about their worries with pet-related health issues
Picking up information here and there from potential clients can give you an idea of what they’re looking for with regards to the health of their furry (or scaly, feathery) best friends. Even though owners might have different problems and experiences, more often than not, they share the same worries when it comes to their pet’s welfare.
Maybe they’re afraid their pets might fracture a paw, ingest something like a piece of wood or require a neck cone after a nasty fall or ear infection. Aside from injuries, owners may also be anxious about the chronic conditions their pets may have. For example, kidney failure and hip dysplasia are common ailments for cats and dogs. Not to mention AIDS-related illnesses and cancers which require very expensive treatments and medication.
It's likely that money would be the deciding factor in purchasing a policy. Take into account these essential titbits of information your clients share with you as it’s vital for the next step.
Try to match their dilemma to the features/benefits of the policy you’re about to suggest to them
After lending a sympathetic ear to your clients, start digging into your list of insurance products and find the perfect match for them. The key here is to think of a possible solution to their problems – after all, that’s what insurance is for. If your clients are only looking for something that would protect their animals from third party liabilities, you can suggest getting an accident-only cover. It’ll reimburse the bills from the vet if their pet gets into an accident, but won’t do the same for illnesses.
On the other hand, if your clients can afford it, you can suggest opting for an annual or lifetime cover that will look after their pet’s illnesses and injuries, with annual or indefinite options.
There are some policies out there that can provide payments for routine treatments (eg vaccinations, check-ups, flea and worm treatment, etc). But whilst it’s a great option to suggest, it can ultimately be more expensive.
Craft your pitch as if you're a pet owner yourself (even if you aren’t one)
Make it personal. If you’ve ever had a dog who suffered from a virus (such as Parvovirus), share what you’ve been through from seeing your hairy friend vomiting, going to the vet, watching the doctor inject antibodies into your pet’s body and assisting in their recovery. All this might not be affordable without the safety net of pet insurance. As an owner (or an imaginary one), you’d know how much of a stress or a loss that situation can be. Finding a common ground and building trust with your clients will definitely help you.
Remember, people pay for products/services they know could solve something for them – not just because they want or need it
Gone are the days when people casually spend money. Today, consumers tend to be smarter buyers. As a broker, you should always be willing to take the extra step of assuring your clients that buying a pet insurance policy will benefit them and their pets in the long run.
When explaining the terms and conditions, take the accessible route
It’s already complex enough for ordinary consumers. Spare your clients the hassle by relating some real life examples on how they can utilize the coverages offered by an insurance policy so that they’ll know when and how to take one out. Don’t forget to mention and emphasize what’s excluded in the policy such as pre-existing conditions, any breed-specific conditions or if their policy doesn’t cover wellness.
Break down the calculations of what they’re going to pay and how much they’re covered for. As a broker, you are their intermediary into a safe and secure future for their pets, so always act in their best interest. The welfare of their pets should always be at the top of your mind.
For up-to-date product listings of pet insurance products, log-in to Insurr here.
Other pages of interest:
‘I owed it to Jagger’: Retired crime-fighting dog battles bone cancer while vet bills mount by National Post on September 21, 2017
Pet insurance can take the bite out of health costs by Aleksandra Sagan on May 8, 2017
Pet insurance complexities could drive brokers barking mad by Insurance Business on April 19, 2017