Contributors from members of the Copper team
The cold calling game in insurance is tough. A lot of people look at insurance as boring, bland and not worth their time—which makes pitching it with a cold call especially difficult.
You’ll get hung up on. You’ll have to build trust and establish credibility.
And chances are, you probably won’t book an appointment on your first call.
It’s also likely your prospect has already been contacted by (many) insurance agents trying to sell them insurance. But the best scripts for insurance cold calls don’t focus on selling insurance.
They focus on the prospect.
An engaging script hooks your prospect from the opening line. It gets your prospect to think about whether they’re paying a good price for their insurance. And it can even make them reconsider their current policy—and wonder if you could give them a better option.
Here are seven scripts that will keep your prospects engaged from your very first cold call, including:
- An elevator pitch you can use in any call,
- A script for offering up free quotes,
- A script that plays the neighborhood card,
- A script that focuses on selling value,
- A script to ignite a price war,
- A script for a lead who has already looked at a policy on your website, and
- A script for someone who already has insurance
1. An elevator pitch you can use in any call
Let’s call this your cold calling elevator pitch.
Whether you’re selling household, workplace, or travel insurance, to be successful, you’re going to need to touch on a pain point your prospect has. (If you’re selling multiple types of insurance, once you’ve perfected your elevator pitch, you can just swap the insurance type out to fit the cold call you’re making.)
A great elevator pitch has four parts:
- 1: An opening sentence that hooks your prospect - Think about the best answer to “what does your insurance company do” that you can come up with and put it here
- 2: Your prospect’s pain point(s) - Are they spending too much on insurance? Are they worried they aren’t covered? Have they had problems with claims before? Pick a pain point and address it—really well.
- 3: The benefits of your company’s policy - Is it a lower price point? Do you offer policy combinations? Do you process policies faster?
- 4: Your competitive differentiator - What is your unique selling proposition (USP)? Explain why the prospect should buy insurance from you, not your competition.
For example, your elevator pitch might be:
- “Our workplace insurance program is saving other companies in (prospect’s area), just like yours, anywhere from 20 to 25% off their total annual insurance costs. Does this sound like something you might be interested in for your business?”
- “Our insurance lets you combine your workplace insurance with your worker’s compensation renewal. By doing this, we’re able to lower your policy costs, as well as turn around your claims quicker. Plus, we’re the only insurance provider in (your area) that currently offers this combination. Does this sound like something you might be interested in for your business?”
To use it in a cold call, make sure you introduce yourself and your insurance company before jumping into the pitch.
“Hi, am I speaking with (prospect’s name)? I’m (your name) and I’m calling from (your insurance agency).”
Keep it simple and short. After all, your prospect’s time is important.
2. A script for offering up free quotes
Everybody loves free stuff. And as an insurance agent, it’s probably become second nature for you to offer up free quotes to keep the conversation flowing with prospects.
In this example, we’re going to be selling life insurance to our prospect, with the offer of a free quote.
“Hi, am I speaking with (prospect’s name)?”
“Ok great, This is (your name) calling from (your insurance agency). How have you been?”
If asking a prospect, “How have you been?” sounds a bit odd, you’re right. It is. But apparently, it works.
The study found that using the phrase interrupts your prospect’s thought process (in a good way). By talking to your prospect in a way that you might talk to a prospect you’ve already met, it can actually move the conversation forward because you’re keeping it friendly.
Keep it casual. Insurance agents are often hung up on quite early in a cold call, so you need to try and keep the prospect on the line long enough that they hear your pitch.
Once you’ve managed to keep them on the phone, it’s time to offer up the free quote.
“The reason I’m calling is to let you know our firm has agents out and about in your area just now. What we are doing is talking through life insurance options and offering up free quotes as well. Obviously, there’s no obligation to buy, it’s just so you can see what options are available to you and your family. Would this be of any interest to you?"
Wait for a response. If they seem hesitant, then you can gently push the solution a bit more.
“I understand you’re hesitant. But in my experience, for (describe the prospect’s family to show you’ve been paying attention and understand their unique qualities) families, like yours, it helps to have a bit of extra help when it comes to life insurance planning. Are you sure you don’t want to just have a quick chat tomorrow with one of my colleagues?”
Wait for a response.
It’s at this point in the conversation your prospect will probably throw some objections at you. Don’t look at this as a negative. Instead, listen to their objections and let them know that you understand their concerns.
Once you’ve managed to overcome their initial objections, move them onto the next phase of the call and gather some information to qualify them.
“I just need to ask some quick questions to make sure you qualify for our program, and it’ll save you time when you’re talking to one of our specialists later as well.”
Remember to make sure you’ve got their details, including:
- Their age
- Their annual income (an approximate number will be fine)
- If they’re on any medication
- If they’ve ever had any serious illnesses (stroke, cancer, etc)
- Finally, if they’ve already got another policy with another agent
Then, close the call.
“That’s great. Thank you very much (prospect’s name). The last thing we need to do is set an appointment time to have one of our specialists get in touch. When would suit you?”
This script will work with any type of insurance—just switch out the wording to the type of insurance you’re selling.
The CRM for Google Workspace
See why our customers love our native Google integration
Sign up for a 14-day free trial – no credit card required.
3. A script that plays the neighborhood card
Painting yourself as a champion of the neighborhood is a tried and tested sales tactic. If you show your prospect that your company is familiar with their neighborhood, it can help build trust.
In this example, we’re going to be selling workplace insurance.
“Hi, is this (prospect’s name)? Okay great. My name is (your name) and I’m calling from (your insurance agency). How have you been?”
Wait for a response.
“That’s great. (Prospect’s name), the reason I’m calling you today is I’m contacting locals in our area to chat about workplace insurance. I know you’re a business owner yourself, are you open to having a conversation about your current cover?”
Wait for a response. You’ll often get an objection here from the prospect about how they’re happy with their current provider.
“Absolutely (prospect’s name), I completely understand. What would you say if I told you the reason we wanted to start a conversation within the local area was to offer business owners like yourself a total insurance policy review and audit? Our audit will tell you if you’re covered in case anything goes wrong, and what our comprehensive coverage can offer your business for the same price bracket. Would this be something that you’re open to?”
Wait for a response. If they show any signs of interest, book a follow-up appointment and close the call.
“That’s great (prospect’s name). Our review process only takes about 15 minutes, so that’s perfect as I’m sure you’re super busy. When would suit you to catch up and go through this together?”
This goes without saying, but defer to the times that work for them if it's at all possible. Compromise is key in the early stages of a prospect relationship, so do whatever you can to work on their schedule.
4. A script for a prospect who fails to see value in your insurance
Some insurance policies are harder to sell than others. While a lot of people might be open to hearing your pitch on a product like life insurance, they might not be as open to hearing about income protection or travel insurance.
In this example, we’re going to be selling income protection insurance.
“Hi, can I speak with (prospect’s name) please? Hi there, my name is (your name) and I’m calling from (insurance agency). How are you today?”
Wait for a response.
“That’s great to hear. The reason I’m calling today is to talk about protecting yourself if something happens that stops you from working. You know (prospect’s name), life is unpredictable, and sometimes an unexpected injury or illness can sideline us from our jobs for weeks or even months. A policy like income protection insurance can make sure your income is protected even if this happens, and it can minimize the impact it has on you and your family. Is an insurance like this something you’ve ever considered?”
Wait for a response. It’s likely that the prospect will tell you that they’re not interested in the insurance and it hasn’t been on their radar.
“That’s fine (prospect’s name), I understand it’s probably something that you haven’t really had a chance to think about. Our initial consultations are just a quick call and there’s absolutely no commitment for you to sign up. It’s a good chance for you to compare rates and know your options. Does this sound like something you’d be interested in?”
If they agree to a consultation, try and book them in for an appointment the following day.
“So (prospect’s name), when is a good time to have our specialist call you tomorrow?”
Work with them to set an appointment time and date.
“That’s great. Thank you very much (prospect’s name), have a great day and please don’t forget our appointment tomorrow at 3 pm.”
If they don’t agree to a consultation, don’t push them. Thank them for their time, tag them as a cold lead and make a note in your CRM to follow up with them in a month or two.
More on CRM...
Learn about all the ways a CRM can help you with prospecting with this free guide.
5. A script to ignite a price war
If your rates are reasonable (or if you can be flexible), starting a price war and letting a prospect know they’re possibly paying too much for their policy is a great way to keep them on the line.
In this example, we’re going to be selling life insurance again.
“Hi, is this (prospect’s name)?”
“Great, this is (your name) and I’m calling from (insurance agency). The reason I’m reaching out to you today is to let you know that a lot of our life insurance carriers are currently having a price war.. Because of that, there's a good chance we can get you a lot more coverage for the price you’re paying now, or you could get a significant discount on what you’re currently paying. Is this something you’d be keen to talk about further?”
Once they’re open to discussing the cost of their policy and if they may be paying too much, then you can steer the conversation to specific aspects of their policy such as their premium or deductible.
6. A script for a lead who has already looked at a policy on your website
Following up with prospects who have shown interest on your website is crucial. They’re already qualified because they’ve shown an interest in a policy, but they may just need an extra nudge to get them to buy.
In this example, we’re going to be selling travel insurance.
“Hi, is this (prospect’s name)?”
“My name is (your name) and I’m calling from (insurance agency). I’m just calling about the travel insurance information you recently requested with us online. I’m looking at the information you submitted here and it seems you’re after a 30-day comprehensive cover, is that correct?”
Make sure you mention the policy they’ve shown interest in right away so they know you’re following up on an actual request.
Once they’ve acknowledged the policy request, you can use it as a segue to talk about what you can offer them.
“Is now a good time to talk? … Okay, great. If you’d like, we can go over the details of some popular policies I think will work for you, based on the information you provided when you visited our website. And a lot of our policies can be customized for your needs, which I can help you select.”
Wait for their confirmation. If they’re interested in going over some policies right then and there, talk them through some pain points when it comes to picking travel insurance.
“I know it can be complicated to pick the right travel insurance for a trip, so please ask away if you have any questions.”
If they're short on time, offer to send them some policy options in an email.
“I completely understand you’re busy, (prospect’s name). What I can do is email you some information about some policies to go over when you’ve got the time? Then, once you’ve found a policy you like, or want some more information on, I can walk you through the application process right over the phone.”
7. A script for someone who already has insurance
Chances are, a lot of the prospects you reach out to may already have a policy for the insurance you’re selling. (Even more so when it comes to policies like life insurance and mortgage protection.)
In this example, we’re going to be selling mortgage protection insurance to a prospect who already has a policy.
“Hi, can I please speak with (prospect’s name)?”
“Hi (prospect’s name), I’m (your name) from (insurance agency). I’m calling because I see you’ve recently purchased a property and I was interested to know if you’ve taken out mortgage protection insurance?”
Wait for their confirmation.
“Okay, that’s great you’re already covered. Just so I can find out a little more on what type insurance policy would benefit you the most, can I ask how long your mortgage is?”
Wait for their answer. Any information you can gather that will help you build a relationship (either on your initial phone call or on follow-up calls) is crucial.
“Perfect. For new homeowners in circumstances like yours, it’s always interesting to see what else is out there. I’m willing to take a look over your current policy to see if there’s any way I can save you some money, as I know as a new homeowner, paying a mortgage is your main priority. Would this be something that you’re open to?”
Pick a cold calling script that works and adapt it to the policy you’re selling
The great thing about cold calling scripts for insurance agents is that when you find that one script (or two) that works really well for you and your style, you can adapt to sell different kinds of insurance.
Separating yourself from the herd of insurance agents who are cold calling prospects is key—instead of trying to sell your products right off the bat, position yourself as a friendly agent who wants to know about your prospect’s pain points.
Everyone wants to do the right thing for themselves and their families. Highlighting how insurance policies can provide a safety net in any situation will work better than just hard selling your policies on a cold call.