How to Sell Workers Comp Insurance

Workers comp insurance is a major expense for a business to carry. It is an insurance policy that has financial and emotional impact on the company. Having the coverage minimizes financial liability, and it also shows that the company values their employee safety. These should factor greatly when you sell workers comp coverage.

1. Contact your state board of workers compensation office to find out the requirements to sell workers compensation in your state. Most states have a website that you can check, or give them a call to obtain the necessary information. Each state workers compensation guidelines vary, but most requires a licensing after testing and fulfilling the other requirements plus paying your license fees. There are some states that do not require any type of licensing so always verify first.


2. Implement a marketing strategy to locate potential clients. Look at small businesses as well as mid-sized companies in your area. Consider hiring a marketing agency that deals with workers comp claims regularly. They will have the skills to help you find a wide range of companies.


3. Look for risk assessment tools to help you determine the risk potential of a new client. Pay special attention to businesses that have difficulty obtaining workers comp insurance because this would indicate there is a potential problem if you acquire the contract. 


4. Create a professional website to reach your clients online. If you cannot create one for yourself, employ someone who can create one for you. 


5. Avoid the temptation to sell your workers comp insurance policy based on price and rates only. Instead, act as an adviser when you talk to your clients make them see how you benefit their business. Listen to the business needs and make recommendation to help the company overcome some of their concerns.