Three ways prospecting commercial lines business is like dating


Most of us wouldn’t be here if it weren’t for dating. That time your Dad plucked up the courage to give your Mom a call and ask her out and she agreed to go. Lots of things may have happened before and after they agreed to go out with each other, but the endgame was successful because here you are.

Prospecting _is_like_dating

That is why many aspects of commercial lines prospecting is like dating. The things that should naturally unfold will never happen if an initial meeting doesn’t take place. Here’re three things dating has in common with prospecting.

1. Everyone is trying to hook you up (with the wrong person).

You know that look. The look married friends give single friends at dinner parties and other couple-oriented functions. They won’t say, “why don’t you settle down and find a nice man or woman?” aloud but you can tell by the look on their faces they’re thinking it.

As a commercial lines producer, you’re a pro at reading facial expressions.

Then when the time is right, your married friend corners you tell you all about a friend, neighbour, co-worker, guy at the car dealership who is an absolute delight and you should meet for coffee.

After that 2-minute lean in, you instinctively know this would be the blind date from hell. The same applies to prospecting.

Someone tells you about someone they know who works with someone they know who really needs insurance for their wheelbarrow. After all, insurance is all the same, right?

The commercial lines producer in you is asking, “what are they using the wheelbarrow for?” Trust me, you don’t want to know.

2. You’ve been ghosted.

After relentless goading from your married friends, you finally cave and meet that guy (or gal) for coffee. Surprisingly, things couldn’t have gone better. You’re positive you met each other in a previous life and destiny has finally reunited you in this one.

You part ways with him (or her) saying, “I’ll call you on Wednesday.” Wednesday comes and goes. Next Wednesday comes and goes. Scratching your head, you’re trying to figure out what the hell happened. You don’t want to look desperate or needy by calling first.

It appears you’ve been ghosted. That person has literally vanished into thin air like a ghost, that’s how the word “ghosted” came into being.

As a commercial lines producer, you’ll always remember that time a prospect made it through the qualification stage and went all the way down your funnel, and at the last minute the whole thing went sideways. You have no idea why, you only know you’ve been ghosted.

3. There’s an app (and data) for that.

I asked one of my single friends why she preferred a certain online dating app over the others. She said, “because they have very good matching algorithms.”

If there’s proven data in online dating, there’s proven data in commercial lines as well. How are you using data to win business, or are you even using data at all?

Cold calling, referrals and networking are great ways to add prospects into your funnel but like online dating, you need data to help refine your search.

Data helps commercial lines producers attract quality leads with a lot less effort than ever before. We know this because we asked brokerage principals and commercial lines managers across Canada what data they wanted and why. That makes us the preferred match-maker when it comes to data and brokerages that write commercial lines.

It may not sound romantic, but if you’re ready to grow your commercial lines book and take the next step by adding data into the mix, let’s talk!

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Topics: Commercial_lines, succession planning