An insurance agency elevator pitch is a succinct summary used to quickly describe your insurance agency, products, and services. It must include your agency’s unique value proposition and must be delivered within the time span of an elevator ride, in approximately 30-60 seconds. This can be much more difficult than many agents might initially think, and it must be written, vetted, rehearsed, and timed. The elevator pitch is a truly important and critical component of your insurance agency’s prospecting and marketing efforts.

A great exercise for agents or agency executives is to ask several people from your agency to tell you their version of the agency’s elevator pitch. Don’t be surprised if the tone varies drastically from person to person. Does the pitch adequately describe your value proposition? Does it highlight the products, services and solutions that best showcase your agency’s expertise? Did the litany of tones sound remotely similar?

A few years ago, I met with the executive team and senior managers of a small company, which at the time employed fewer than 100 people. I asked each of the twelve people I met to provide me with an elevator pitch about their organization. Some people were taken completely by surprise. Others sat and thought, and struggled to articulate an elevator pitch, or even describe their value proposition. The tones I heard varied drastically.

Elevator pitches are an important digital asset for all agencies. They must be examined, written down, practiced and preached. I call it an asset, since it is a fundamental component in the marketing of any agency. And everyone in an insurance agency, from the agent to the receptionist, through the customer service representative and the executive team, must be able to quickly and professionally deliver their insurance agency pitch.

Your sales and marketing efforts are based on a well-articulated and easily repeatable value proposition, which should be a microcosm of your elevator pitch. If you can’t communicate your value proposition in less than 30 seconds, or you stumble trying to express it, it’s time to write it down, rehearse it, and communicate your value proposition to everyone in your agency. Once this is done, turn it into a 30-60 second elevator speech. Practice makes perfect, try repeating both at monthly management and sales meetings, and it’s important to note that your presentation may vary based on your target niches (P&C vs. Group Profits, for example).

Here are some best practices when it comes to your insurance pitch:

• Be brief: 30 seconds is much better than 60 seconds (you may not have 60 seconds!)
• Build Empathy: For example, “We work exclusively with New York contractors” or “We work with trucking companies with 5-50 power units” or we specialize in groups of 50-150 participating employees.”
• Verticalize: A vertical tone is easier to differentiate, allowing you to better articulate your unique tone. “We assure restaurants that they address their unique risks.”
• Be different: “save money” and “great service” is something everyone says. What are your top 3 unique differentiators?
• Transfer enthusiasm! You have to believe it for them to believe it.
• Close with a call to action: what is the next step for your potential customer?

Let’s review a sample tone, which would last 30-40 seconds depending on the cadence:

We have been helping trucking companies with their insurance and risk needs for over 50 years. Everyone at our agency is an expert in trucking fleets, in areas including hazardous materials, special cargo, certificate compliance, HOS, group health, and owner operator services. With our access to extensive markets and deep industry experience, we provide creative hedges at the best possible rates and help protect our clients’ bottom lines. We know truck insurance is one of your biggest expenses, and our creative approach to coverage will help you meet your unique requirements. Can we schedule a 15 minute meeting to discuss your specific needs?

Your elevator pitch could be designed to include industry jargon to convince prospects of your deep expertise, it could highlight your most important products and services, your main differentiators, or your service-focused approach. Whatever your final elevator pitch includes, practice makes perfect, it should roll off your tongue effortlessly. Remember, 30 to 60 seconds is all he has before his most important prospect steps out of the elevator, and his opportunity may be gone forever.