An insurance agency elevator pitch is a succinct summary used to quickly describe your insurance agency, products, and services. It should include your agency’s unique value proposition and should be delivered in the time span of an elevator ride, roughly 30-60 seconds. This can be much more difficult than many agents might initially think, and needs to 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 in your agency to tell you their version of the agency elevator pitch. Don’t be surprised if the tone varies drastically from person to person. Does the tone 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 give me 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 speeches are an important digital asset for all agencies. They must be examined, written, practiced and preached. I call it an asset, as it is a critical component in any agency’s marketing. And everyone in an insurance agency, from the agent to the receptionist, to 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 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 pitch. Practice makes perfect, try to repeat both at monthly management and sales meetings, and it’s important to note that your presentation may vary depending on your target niches (P&C versus Group Benefits, for example).

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

  • Keep it short: 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 horsepower” or 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 “excellent 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 client?

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. Because of our access to extensive markets and deep industry experience, we provide creative coverage at the best possible rates and help protect our clients’ bottom lines. We know truck insurance is one of your largest 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 key differentiators, or your service-centric approach. Regardless of what your final elevator speech 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 walks out of the elevator, and his opportunity may be gone forever.