
Yet another exciting webinar was recently concluded on 9 July 2021. While we do this on a monthly basis, it does not take away the excitement we feel at these sessions! The session was made even more fruitful with the sharing done by the team from Windward Insurance Brokers where they shared their knowledge about Cyber Security Insurance. For those who were not able to attend, fret not as this article will summarise the key points of the webinar! With the theme of the webinar being ’The power of asking the right questions (and using tech to get answers!)’, we broke the webinar down into the following key segments: We started off with this segment to give context to and convince attendees on the importance of asking questions. However, it was also shared that attendees should understand that ‘asking the right questions’ is just a way of phrasing the line of thought about wanting to be more curious about the client’s business. This motivation to be more curious is framed by the want to serve them better on an advisory level. The importance of asking the right questions is essentially the same as the importance of being curious.
The importance of asking the right questions is essentially the same as the importance of being curious.
To give context, it was shared at the Webinar that Surer started off its product building efforts by asking intermediaries questions about their pain points as well. It is only when you understand the problem, that you can start building solutions. We then shared more about what the ‘new age’ intermediary will look like and why being curious is important: This part of things was then concluded that one of the key stats in a research done showed that >90% of clients feel a sales meeting is more valuable if you help them better understand their needs. We then shared why it is important to think like an advisor. There are 4 types or stages of relationship a client At stage 4: It was shared that essentially, the intermediary is the critical link between insurers and the end policyholder. You offer advice and key information in connection with the negotiation or sale of insurance. Intermediaries are players in the ecosystem with broad knowledge of BOTH the product and the marketplace We then jumped into the meat of the webinar where we shared about the tangible benefits of asking the right questions. Starting with the fact that it helps uncover needs! We used a couple of questions to show how this works: Magic question 1: How willing are you to change? Magic question 2: What prompted you to start exploring? Magic questions 3 – 6: Targeted follow-up questions Besides uncovering needs, it was shared that questions can help handle objections as well. This was much to the surprise of many attendees. Really? I can answer an objection with a question?
This was much to the surprise of many attendees. Really? I can answer an objection with a question?
We shared that there are two common types of objections – timing related and those that happen at the prospecting stage. It was shared that ‘timing objections’ are basically, objections related to ‘now is not a good time to buy’. It is that middle-of-nowhere territory where you are unsure if the client is stringing you along or if they genuinely need more time. Research shows how effectiveness of asking the right questions or ‘questioning techniques’ can reverse this situation for you! We then shared some questions that can be used to handle timing objections: We then went on to share about common objections faced at the prospecting stage and what kinds of counter questions can be asked: The last segment of the webinar on asking the right questions shifted into asking YOURSELF the right questions. It was shared that in doing so, it will help intermediaries validate if they are any closer to a deal after multiple conversations – this is important because many times, unless a client outrightly rejects us, we might feel like a deal can be struck.
…help intermediaries validate if they are any closer to a deal after multiple conversations – this is important because many times, unless a client outrightly rejects us, we might feel like a deal can be struck.
Of course, there is no shame in being optimistic. In fact, this is how we stay motivated and keep our chin up! However, it is also important to be able to identify the hot deals and cold ones, so you know where to channel your energy. We then went on to share the following three questions that will help on this front: The good folks at Windward Insurance Brokers shared their knowledge and expertise about Cyber Security. They broke their sharing down to the following key points: You can work with Windward Insurance Brokers via Surer! Simply log into your Surer account, activate the ‘Quick Start Guide’ located at the bottom right of your screen and select ‘Cyber Security Cover with Windward’ – you will then be taken on a step-by-step guide on how you can do so. — As always, huge shoutout and thank you to all attendees and also to our partners Singapore Insurance Institute and Windward Insurance brokers. — Question 1: Answer: You will first have to RSVP via the form above with the details indicated. Upon the start of the webinar, you will be required to identify yourself by changing your Zoom username to show the first 4 digit of your NRIC along with your full name. Your attendance will be marked if you stay for the full duration of the webinar. We will then share the attendance list with Singapore Insurance Institute (SII) for verification. We will then share your certification of attendance with you via email. This whole process will take between 5 – 10 business days (after the webinar is concluded). Question 2: Answer: No. To obtain a certificate of attendance, all attendees need to be present for the full duration of the webinar. Question 3: Answer: Yes. CPD hours is only applicable to general insurance agents only and regardless of your principals. After the training/webinar, a certification of attendance will be emailed to the eligible attendee with the CPD hours endorsed and awarded by the Singapore Insurance Institute. You can then submit this certification of attendance to your principal to clock the CPD hours. Question 4: Answer: Yes. It is fuss-free. No credit card or payment required.Key highlights
Why is it important to ask the right questions?
What will the right questions do for you part 1 – uncovering needs
What will the right questions do for you part 2 – handle objections
“If it is really bad timing right now, let’s reschedule. However, can I set up a quick call to share or understand how I might be able to help? That way, if we both realise that my expertise does not match your needs, we don’t have to worry about me chasing you in X weeks, but if it does, I can already start sourcing for quotes on your behalf and we’ll have more to talk about then, When is a good day/time for us to chat?”
Questions to ask yourself to validate how close you are to a deal
Windward Insurance Brokers sharing about Cyber Security
Interested to find out more about Cyber Security Insurance so you can better advise your clients?
You may also reach out to contact Windward Insurance Brokers via the following form:
You may also check out this article to find out how to get your Cyber Security insurance quote from Windward Brokers via Surer!
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