How To Sell Insurance Policies Like a Pro

Don’t know how to sell insurance policies online? Here’s a guide to simplify insurance telesales to help you sell better and maximize profits with SquadStack.

June 28, 2024


5 Minutes

Bisma Khan

Bisma Khan

How To Sell Insurance Policies Like a Pro


The Indian insurance market is on an upward trajectory with a projected growth of over $200 billion in 2027, and with this staggering number comes the opportunity for your insurance business to cash in. As the insurance buyer evolves with the new digital age, gone are the days of one-size-fits-all insurance products. You and your sales team need a defined plan on the age-old question ‘How to sell an insurance policy.’ But worry not! We have done years of research and tried and tested all the strategies out there to prepare this foolproof guide for you. Dive in to find out how to crack the code and sell the insurance policies like a pro.

How to sell Insurance

Selling an insurance policy can be tricky for a person but easy for other. It’s a push product that requires many intermediaries for a successful sale, and since Indians are value-sensitive consumers, an abundance of competitors in the market makes this task much more challenging.  As the world's fastest-growing life insurance market and the 9th largest globally, India offers a golden opportunity for ambitious insurance companies. Selling insurance in a dynamic landscape demands a high level of domain expertise, a deep understanding of the market’s nuances, and the right set of tools to navigate through its complexities.

How to sell Insuranace: CTA 1

How to Sell Insurance Policies: A Step-By-Step Breakdown

The insurance industry flourishes through effective communication and trust-building. Here's a detailed breakdown of the complete sales process, covering initial prospection, needs assessment and qualification, product presentation, objection handling, and customer onboarding.

  1. Prospecting & Lead Generation: The first step in selling anything online is identifying your target market and generating qualified leads. This can be done via various channels like online marketing, social media outreach, or content marketing. Once you have a dedicated database of potential customers, the only thing left to do is to utilize these leads efficiently. Here’s where SquadStack can help. Our omnichannel outreach strategy ensures customers are approached on their preferred platforms, leading to greater conversions.
  2. Needs Assessment & Qualification: Understanding and personalizing customer needs is essential in the insurance industry. A cookie-cutter approach won't cut it. That's why you need a trained telesales team with excellent communication skills.
  3. Product Presentation & Quote Generation: Once you have built rapport with the customer, explain the policy's benefits and features using the right tools and presentations to ensure a clear product understanding. 
  4. Objection Handling & Closing the Sale: Effectively addressing customer concerns and guiding them toward a purchase decision is often the step at which most leads drop. Our call quality monitoring AI helps agents refine their objection-handling skills and equips them with the tools to drive a more compelling sales pitch.
  5. Onboarding & Customer Service: Streamlining the onboarding process and providing exceptional customer service to ensure long-term policyholder satisfaction is a no-brainer. You want to make lifelong clients, not one-time customers. SquadStack's CRM integration facilitates seamless data flow and post-sales communication, ensuring you acquire and retain customers.

Also, check out our latest blog post, Call Center Phone Systems: Find the Right Virtual Solution

Boost your insurance sales

The Challenges of Selling Insurance in Digital Age: Overcoming Industry Pain Points

With the advent of the digital age, old-school insurance telesales tactics just don’t work anymore. Cold-calling and emailing are the go-to options for most when it comes to selling insurance policies, but these can often end up being directionless and render your sales campaign inefficient if not done in a targeted manner. 

Insurance as a product presents many challenges. Firstly, it isn’t a product most people are excited to buy; after all, it’s one that most hope they never have to use. So, unfortunately, it ends up being a product that is sold and not bought. Moreover, insurance isn’t the most glamorous of products; the crux of it remains the same through the years, with no special features or instant results to gratify its buyer. An agent can only sell an insurance policy’s future benefits, thus making it a complex skill to acquire but something that can be mastered over time.

Consumers are concerned about data breaches and insurance fraud and are generally more critical of their choices than ever before. Today's customers demand a well-informed telesales partner to help them choose the right insurance policy for their personalized needs. Because insurance is a highly personal product, the selling approach requires nuance and patience to yield positive results. People don’t like to be rushed and only spend money when they have complete faith in their insurance agent. That’s why having sales agents who are well-versed in the insurance industry and have good communication skills is one of the most important factors to consider when restructuring your insurance sales strategy.

Data security while selling insurance
SquadStack Offers Enterprise grade security which is ISO/IEC 27001:3013 Certified

Let’s take a closer look at some of the pain points of the industry and how SquadStack can help you bridge the gap and thrive in this digital age. We enable you with the right tech stack to fill the gaps in your telesales campaigns, along with a skilled team of sales agents who are thoroughly vetted and know the insurance industry inside out. We have helped many BFSI players like INDMoney, Kotak, Moneyview, and Razorpay optimize their sales campaigns through our tailor-made solutions and tech-first approach that help you remove the roadblocks in your insurance sales process early on.

We aren’t just a telesales outsourcing partner but a company that understands that every business has unique needs. Let’s dive deep into how to sell insurance policy online, what the common customer pain points are, and how you can overcome all these roadblocks with SquadStack.

  • Product Complexity: General, health, life, car – each insurance type requires specific knowledge and communication styles. Our agents are industry-trained to explain complex products clearly and cater to your diverse offerings.
  • Shifting Customer Behavior: Customers today crave a seamless online experience (73% prefer online modes for general insurance purposes). SquadStack complements your existing digital strategy with omnichannel outreach, ensuring you connect with them on their preferred platforms (think SMS, WhatsApp, Email, IVR).
  • Customer Data Management: Securely collecting and managing customer data is crucial in today's privacy-conscious world. Our powerful CRM integration streamlines data flow and communication, keeping your information safe and sound.
  • Low Lead Conversion: Are you missing out on potential sales due to inconsistent agent performance? Our AI-powered call quality monitoring ensures peak performance by identifying areas for improvement and keeping your agents sharp with constant feedback.
  • Building Trust: High-value products like insurance require agents you can trust. SquadStack provides both quality agents and industry-specific training, empowering them to build lasting customer relationships.
  • Customer Retention: Keeping policyholders engaged is vital to long-term success. Our CRM integration facilitates post-sales communication, ensuring happy and loyal customers.
  • Regulation and Compliance: Data security and regulatory adherence are crucial. SquadStack prioritizes both, giving you the peace of mind to focus on what matters most –  selling insurance! We hold ourselves to the highest standards through ISO/IEC 27001:2013 certification. Our ever-evolving security measures and rigorous data protection policies ensure your information is collected, stored, and accessed according to the strictest guidelines.
Pain points: insurance selling space

How to Sell Insurance Policies Over Phone Like a Pro

Selling insurance policies over the phone requires a combination of effective communication skills, product knowledge, and building rapport with the customer. Here are some tips to help you sell insurance policies like a pro over a phone call:

  1. Prepare and Research: Before making the call, thoroughly research the prospect and understand their needs. Prepare a script or talking points, but remain flexible to adapt based on the conversation.
  2. Build Rapport: Begin the call with a friendly greeting and introduction. Establish rapport by asking open-ended questions about their current situation or any insurance they currently have. Show genuine interest in their needs and concerns.
  3. Listen Actively: Pay close attention to the prospect's responses. Active listening will help you understand their needs and tailor your pitch accordingly. Repeat back key points to demonstrate understanding and build trust.
  4. Highlight Benefits: Focus on the benefits of the insurance policy rather than just the features. Explain how the policy can address their specific needs or concerns. Use real-life examples or case studies to illustrate the value of the insurance.
  5. Address Objections: Anticipate common objections and be prepared to address them confidently. Understand the prospect's concerns and provide clear, factual answers. Use testimonials or success stories to overcome objections.
  6. Be Clear and Concise: Keep your pitch clear, concise, and jargon-free. Use simple language to explain complex terms and ensure the prospect understands the policy details.
  7. Create a Sense of Urgency: Encourage the prospect to take action by creating a sense of urgency. Highlight limited-time offers, discounts, or benefits that are available if they sign up now.
  8. Follow Up: If the prospect is not ready to make a decision immediately, schedule a follow-up call or send additional information via email. Persistence and consistent follow-up can often lead to a sale.
  9. Close the Sale: Once you've addressed all their questions and concerns, ask for the sale directly but respectfully. Use assumptive language such as "When would you like to get started?" or "Shall we proceed with the application?"
  10. Provide Excellent Customer Service: After closing the sale, ensure a smooth transition to the next steps in the process. Thank them for their time and reassure them of your continued support.

By mastering these techniques and continually refining your approach based on feedback and experience, you can sell insurance policies effectively over the phone and achieve success in telemarketing.

Collaborating with an Outsourcing Firm for Insurance Sales through Telemarketing

Collaborating with an outsourcing firm for insurance sales through telemarketing can be a strategic move to expand your reach and increase sales. SquadStack bridges the gap between your ambition and achieving remarkable results in the Indian insurance market. We offer a comprehensive solution that addresses your insurance selling needs via our impeccable tech stack and years of expertise in the business.

Our Tailored Approach

We understand that every company has unique needs. Our approach involves working closely with you to design a customized telesales campaign that aligns with your specific goals and target market, giving you the freedom to scale your business effortlessly.

Tech Stack Powerhouse

Our state-of-the-art tech stack equips you with the tools you need to excel. Here’s what you get with SquadStack:

  • Agent Management Platform: Streamline agent workflows and enhance call performance. SquadStack thoroughly vets and trains sales agents to achieve a crystal clear understanding of the insurance industry. We take quality seriously, as only 2% of applicants qualify through our rigorous testing.
  • Omnichannel Outreach Strategy: In the insurance space, leads mustn’t be compromised due to a lack of communication. With our omnichannel outreach, none of your leads slip through the cracks, as we utilize platforms like WhatsApp, call, email, SMS, and IVR to target customers on their preferred platforms.
Using AI to help sell insurance policies
Image: SquadStack Uses the Power of Human & Advanced Technology to Deliver Exceptional Customer Service
  • In-House Dialer: Maximize call reach and agent productivity with our in-house dialers. Experience maximum lead-calling efficiency by systematic lead prioritization that divides leads based on data like city, product interest, age, profession, etc. We also employ Last in First out (LIFO) and First in First out (FIFO) algorithms to effectively maintain the desired turnaround time.
  • CRM Integration: Seamlessly collect and manage customer data. SquadStack is here to enhance your tech stack with fully customizable integrations and seamless connections to popular CRMs like Salesforce, Pipedrive, and Freshsales. These powerful integrations empower agents with valuable customer data, enabling them to provide personalized, efficient, and top-notch service.
CRM integration :Sell Insurance
  • Data-Driven Analytics Dashboard: Ensure 100% data capture, lead attribution, and transparency at your fingertips with our analytics dashboard, where complete campaign information, such as agent quality factors, connectivity, conversions, total dialed calls, and top performers, are visible.

AI-Powered Call Quality Monitoring

SquadStack's AI-powered call quality monitoring ensures consistently high standards in agent interactions. This translates to improved conversions and a significantly enhanced customer experience. We sample 12% of all call recordings (and an additional 3% manually) across 23 Quality Parameters. We further provide agents with in-depth feedback to drive high-quality calls.

Building Trust Through Superior Agents

We invest heavily in agent training, ensuring they possess the requisite product knowledge, risk assessment skills, and communication expertise to build trust and convert leads into loyal customers effectively.

Quantifiable Results

Our data speaks for itself. We've partnered with leading BFSI brands like INDMoney, Moneyview, Razorpay, and Upstox to achieve impressive results:

  • SquadStack's on-demand sales expertise increased Upstox's activation rate by 40%. The AI-powered outreach has increased their connectivity to 75%.
  • Choice India successfully lowered its customer acquisition costs (CAC) by as much as 70%, and its month-on-month conversion rates also saw a rapid increase. After partnering with SquadStack, the overall lead-level connectivity improved to a consistent average of 72%.
  • Moneyview employed our system-driven calling that brought structure and discipline to their outbound calling strategy, improving their lead connectivity by a staggering 154%

Sell More Insurances With SquadStack!

Don't miss out on the immense potential of the Indian insurance market. Partner with SquadStack and leverage our expertise, technology, and trained agents for remarkable growth. Let's discuss how we can help you design a winning telesales campaign and propel your business to new heights.


What are the biggest challenges of selling insurance policies online?


The biggest roadblocks in selling insurance online are overcoming product complexity, training agents to understand the nuances of selling a commodity like insurance, and approaching shifting customer behaviors with the advent of the digital age.

How can SquadStack help me overcome these challenges?


Our tech stack powerhouse ensures you have all the tools to execute a successful insurance telesales campaign. We have got you covered from qualified agents to effortless CRM integration and call quality monitoring to provide the highest level of agent productivity.

How can SquadStack help insurance companies become more compliant and prevent data breaches?


Privacy and data security are paramount today, and with SquadStack’s ISO/IEC 27001:2013 certification, security measures, and rigorous data protection policies, we ensure that your customer information is collected, stored, and accessed according to the strictest guidelines.

How does SquadStack ensure that its sales partners are well-versed in the field of insurance sales?


All our sales partners are industry-trained and regularly undergo mock calls to enhance their insurance sales skills. Constant feedback keeps them ready for any industry changes, and periodic industry training sessions are also available for all our sales partners.

Can SquadStack integrate with my existing CRMs?


We offer integration support for all popular CRM platforms, such as Salesforce, Pipedrive, and Freshsales, guaranteeing zero lead drops and guaranteed conversions.

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