Some carriers have developed prepackaged approaches that can help producers pursue middle-market customers more efficiently. These tools and approaches, combined with some creativity, can help producers penetrate the middle market in profitable ways. Three opportunities:

1. Turnkey marketing solutions: Work with carriers who can help you be more efficient and effective with marketing. Some of them have made significant investments in marketing tools, and you just need to take advantage of them. For example, you can customize pre-designed ads and use automated direct mail systems to generate leads. This is much less expensive and time consuming than developing your own tools.

2. Web-based educational tools: Some carriers and third-party companies have developed educational sites that are very consumer friendly. You can partner with them to develop “ready-to-buy” prospects. The fact is that term life products — the mainstay of this market — are fairly easy for people to understand. Prospects can watch an online demonstration and “get it” right away. What slows them down is getting the answers to a fundamental question: How much life insurance do I need? An interactive site can help guide prospects to an answer that is clear and based on their specific life needs. Once the prospect is convinced of the need to buy and how much to buy, it is in the producer’s hands to finalize the sale and get the policy on the books.

3. Streamlined administration tools: There was a time when producers spent more time selling than doing paperwork. Now there are online companies that are bringing the reality back. These companies have built systems that reconcile the rules of various jurisdictions and the applications of numerous carriers to streamline the application process. They fill in forms automatically and queue up e-mails to parties involved so you can just tailor them and send. These companies also tie together the activities that surround the application, such as medical exams and case management work, so the producer has one, holistic view of the prospect’s movement through the application process. By using the technologies, the producer can focus time on closing sales and cementing relationships with these new clients.

Editor’s Note: The preceding article was adapted from “Producers Tapping Technology to Engage Elusive Middle Market,” which ran in the November 2009 issue of Life Insurance Selling. Click here to read the whole article.

To read last week’s Words from the Wise, click here.

For more on technology, see:

Using Technology to Increase Niche Marketing Sales

Technology-enhanced service paves the way to Main Street

Postscript: Technology: A Quick Trip Down Technology Lane