Questions

Are insurance companies typically hard to sell to? Who would I talk to in an insurance company's staff to explain what we do and how it can benefit them?

I have worked in and with insurance companies for more than 10 years in underwriting- and pricingroles and -projects. So I am familiar with how the processes in an insurance company works.

For insurance companies in general, they are used to working with external suppliers, so you should be able to screen time with relevant people, if your service creates value for them. However, you should be really sure how your service creates value in the company and for whom, and be very clear on that. Insurance is very numbers-driven, and your success will depend on the business case you provide. How much claims cost can your solution create? Will it reduce head count? Will it help the customer experience? And if you can show, that you understand the needs of the company you are talking to (current market position, size, prodcutivity, etc.), that will increase the likelihood of success.

The size of the insurer will also affect your selling process. The larger the insurer, the larger the need to identify the relevant decision maker. Does this company have a central supply chain-team, or are the individual departments doing their own buying? With a larger insurer, there can be a risk that the responsibility is were silo-split, which can make it harder to get a decision from them.

So the more you can document the value you create very specifically - both with numbers and what people changes it can lead to, the higher the likelihood of success.

If you would like more discussion on this, feel free to set up a call. Good luck with your proposition.

Best regards
Kenneth Wolstrup


Answered 3 years ago

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