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Personal selling in insurance
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Personal selling in insurance

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Personal selling in insurance Personal selling in insurance Presentation Transcript

  • PERSONAL SELLING SKILLS IN LIFE INSURANCE
    -effective selling-
    Ritesh Pandey
  • STANDARD SALES PROCESS
    Closing
    Negotiation
    Objection Handling
    Counselling
    Taking Appointments
    Prospecting
    Suspecting
  • Suspecting
    Listing of Prospective Customer through Natural Market
    Prospecting
    • List of prospects categorically
    • Seeking appointments
    Counselling
  • COUNSELING
    Characteristics
    Introduction
    Presentation
    Objection Handling
    Enthusiastic
    Energetic
    Positive Attitude
    Communication Skills
    Negotiation
    Investing Possibilities
    Investing Mode
    Need Identification
    Proactive in Nature
    Focused Observation
  • “3” BASIC SALES APPROACHES
    Need Satisfaction
    Problem-Solution
    Standard
    • Pat statements and refined sales pitch
    • Good for rookies, uniform for Mgmt.
    • No listening
    • Full analysis of customer needs
    • Lots of careful questions to find opportunity
  • APPROACH
    Need Satisfaction & Problem-Solution
    Urban Areas – Big Cities, Metros, Mini Metros.
    Higher Education level
    Competitive Markets
    Knowledge Driven Places
    Highly Penetrated Areas
    Standard
    Rural Areas – Low Profiled Districts, Town, Villages.
    Low Education level
    Less Competitive Markets
    Poor Know-How of the industry
    Geographical, Environmental & Social Differences & Stigmas
  • CALL PREPARATION
    Know your product inside out.
    Be knowledgeable about the industry.
    Know your competition
    Know the basics of the customers needs.
    People in common.
    Believe in yourself, your company, and product.
  • PROTECTION
    INVESTMENT
    SAVINGS
    AGE
    3
    2
    1
    25
    2
    3
    1
    30
    1
    2
    3
    35
    2
    1
    3
    45/50
    2
    3
    1
    55
    2
    3
    1
    60
    3
    2
    1
    65
    CUSTOMER’S NEED IDENTIFICATION THROUGH ‘AGE’
  • FIRST FEW MINUTES
    Nonverbal visual cues
    Your dress. Plan it.
    Look them in the eye and shake firmly.
    Smile broadly.
    Show personal enthusiasm in body language.
    Pace yourself by customer…watch them approach
  • THE OPENER
    For Need Satisfaction & Problem-Solution Approach
    Careful questions to find opportunity like...
    Do you know why people are aggressively taking insurance these days?
    or
    Do you know, what are the benefits of insurance?
    No. I
    Answer: Let me tell you, Sir – “with a smile”
  • Get some CARDS - printed – (Prepared Page)
    BENEFITS
    Best Savings and Prudent Investment.
    Perfect Short Term & Long Term Investment Planning.
    Higher Returns with Calculated Risk & Cover.
    Child Protection & Education.
    Flexibilities, Liquidity & Opportunity Driven Investment.
    Family Protection & Security – Higher Risk Cover at Low Cost.
    Tax Benefits (Section 80 – C & Section 10-10-D)with One & All
  • THE OPENER
    What is your first Priority? (from the list of Benefits of insurance)
    Q.1
    Why did you choose it?
    Q.2
    Why it is important for you?
    Q.3
    If you don’t get the opportunity for it, What could be the results?
    Q.4
    Why do you get worried due to these results?
    Q.5
    The Five Golden Questions to follow…
    For Need Satisfaction & Problem-Solution Approach
  • NEEDS DISCOVERY
    While closing the Q’s.- this is the key selling skill.
    Question and listen. Really listen
    What’s not being said?
    What are they trying to say but “can’t”
    What’s the real need?
    Sometimes the needs are “just those of the buyer, and not actual”. You understand!
  • QUESTIONS
    OPEN PROBES
    To get into the Emotional or Problem or Challenge or Solution Level of an individual.
    Let him feel about things while listening to him,& if not…make him feel about it.
    Be attentive while listening & be genuine in responses.
  • QUESTIONS
    CLOSED PROBE
    Identification of two Important component.
    How much are they saving in the current financial year?
    How long can they save the same?
  • CONCERNS AND OBJECTIONS
    Typically a natural part of any call
    An opportunity for more dialogue
    Helps both parties in buying process.
    “this is a buying process”
    Customer “indifference” is the killer not active objections
  • HANDLING OBJECTIONS
    Listen
    Agree/restate without prejudice
    Get clear about the real issue
    Discuss solutions
    Ask for a commitment
  • CLOSING
    Trial closes might uncover more issues/needs
    Is this what you had in mind?
    Would this do the job for you?
    How does this look?
    If still no…
    What specifically doesn’t seem as though it meets your needs?
  • BUYING CLUES
    Nonverbal yes’s
    Sounds good…
    Focus on delivery and terms in discussion
    Timelines
    Pulling out forms
  • CLOSING
    Alternative close
    Which mode of payment would you prefer – Yearly or Half yearly?
    Summary close
    When you have a great chance of solving you housing problems while shifting in your own house after 10 year with the guaranteed returns best in the industry..should we delay?
  • POST SELLING
    Service, service, service.
    Know your company’s ability
    Don’t ever oversell
    Call and write.
    Creative thanks.
    Visit again soon after product delivery.
  • I appreciate your kind attention.
    Thank you