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Five tips to help you sell more telematics

NOV. 17, 2020

­­­­­­In today’s world, consumers expect more from auto insurance than the “one-policy-fits-all” approach. As they demand more personalization and new ways to save, it’s clear that the future of Insurance includes telematics.

Be the agent who can help their clients choose the right usage-based insurance option with these selling tips:

1. Offer telematics with every quote

Our research indicates that customers want telematics. In fact, in 2020, customer interest in telematics increased by 30%1. Telematics programs can help you save your existing customers money and help you strengthen relationships. You can also use it to grow your business since offering Nationwide telematics to prospects can differentiate you from the competition.

Most customers can benefit from a telematics program:

  • Those who drive less pay less than they would with a traditional policy with SmartMiles
  • SmartMiles customers save an average of 25% (or) $300 compared to a traditional Nationwide auto policy2
  • SmartRide is a safe-driving rewards program that provides an immediate 10% enrollment discount and up to 40% off premium at renewal
  • 97% of customers who participate in SmartRide earn a discount at the end of the program3

2. Spread the word on social media

Social media is one of the most powerful tools in your sales toolbox. Normally, 70% of Americans use social media to connect with each other4 and roughly half of U.S. adults are using social media even more since the outbreak began5.

Since a greater number of people are spending more time online than ever before, it’s the perfect time to get the word out about “SmartRide” and “SmartMiles” on social media. We can help! Use our pre-designed posts on Hearsay (search keywords “SmartRide” and “SmartMiles”).

3. Understand privacy concerns

Customers can be hesitant to give out their driving data without knowing what it will be used for and where it will go. Therefore, it’s important to anticipate this concern and address it when necessary.

Assure them that Nationwide takes customers data security very seriously and is committed to protecting it. The information collected is used only for insurance purposes related to the SmartRide or SmartMiles programs and never sold to any third parties. Additionally, drivers can easily see their driving data that is gathered through the app or online web portal.

4. Learn more about our competitive advantages

It’s necessary to understand and educate customers on what sets SmartRide® and SmartMiles® apart as knowing the benefits make selling it much easier. Here are the top 2 advantages:

  • Customize protection to fit your customers’ unique needs. Multicar policyholders can have individual vehicles enrolled in SmartRide, SmartMiles and a vehicle not enrolled in telematics.
  • No surcharge for participation – Customers can rest easy knowing they will not be surcharged as a result of participating in one of our telematics programs.

You can use our program benefits one-pager to learn more about the unique advantages of SmartMiles and SmartRide.

5. Share positive experiences with telematics

Be sure to talk about the successes you or your customers may have had while using telematics. These personal testimonials make the product more “real” and relatable to your customer and will help them feel reassured about trying it.

If you’re eligible, consider trying SmartMiles and SmartRide yourself. You can also test drive the SmartRide mobile app by requesting a demo here. Understanding firsthand how the program works will help you better explain it to customers.

Using these five steps to offer personalized auto premiums with Nationwide telematics makes building relationships and growing your business easier than ever. Not sure how to start the conversation? Get the Sales Guide and start selling telematics today.

 

Sources

  • 1

    J.D. Power 2020 PULSE Survey

  • 2

    National data through February 2020

  • 3

    Based on national data, Jan 2019 through Apr 2020

  • 5

    https://www.businessinsider.com/2020-us-social-media-usage-report