Useful for the Life Insurance salesman at a large.

1. Welcome
To
Salesmanship
1Elias - ASB

2. Presented by
A.K.M. Elias Hussain
President
Actuarial Society of Bangladesh
2Elias - ASB

3. Sales cycle
Utility,
Satisfaction &
Quality
Exchange &
Relation
Perso
n
Need &
Demand
Goods &
Service

4. Life Insurance Selling
Life Insurance is a contract
of
guarantee
4Elias - ASB

5. Salesmanship
What we mean ?
5Elias - ASB

6. How we can define ?
Salesmanship is an art
having a scientific concept.

7. Salesmanship is one of the skill used
in personal selling
It is the art of successfully persuading
prospects or customers to buy products or
services from which they can derive
suitable benefits, thereby increasing their
total satisfaction.

8. Life Insurance Salesman should believe
A) Life insurance is not only the best possible
device for family protection -there is no other
way.
B) Insurance is the only way to safeguard
against unpredictable accidental risk of the future.
C) The terms of life are hard but the terms of
insurance are easy.
D) The human life value is for greater that the
value of property.

9. E) Life insurance is the supreme investment
of the average man.
F) Insurance constitutes one of the most
valuable properties devised by the mind
of man.
G) Insurance, including life insurance is
essential for the conservation and
constitutions of many business, just as it
is in the preservation of homes.
H) Insurance enhances the existing standard
of living.

10. Pay attention when selling yourself
 Adopt a pleasing personality
 Give honest, sincere appreciation
 Use name frequently
 Be a good listener
 Show respect for his opinions
 Avoid arguments
 Tell him about your job.

11. PERSONAL SELLING
Face to face communication with
potential buyers in and exchange
situation. So, sales people are highly
trained professionals who knows the
product and who can communicate
their knowledge in a persuasive
manner.

12. Selling process
 PRE-APPROACH
 APPROACH
 INTERVIEW
 OBJECTION
 MOTIVATION
 CLOSE.

13. Pre-approach
 Using information to advantage
 Proper preparation essential
 Prepare sales talk

14. APPROACH
 THE TIME OF APPROACH
 THE PLACE OF APPROACH
 THE METHOD OF GREETING.

15. Interview
The selling interview will follow 5 steps
 STEP– 1: Approach during which curiosity
would have been aroused.
 STEP – 2 :
A) Uncovering the need
i) He uncovers the need
ii) The need gets emphasized
iii) The need gets accentuated
B) Emphasizing the need.
C) Accentuating the need.

16. STEP - 3 Planned Presentation
i) He uncovers the need.
ii) The need gets emphasized.
iii) The need gets accentuated
STEP – 4 Close
 Be on the look out for a sign to close.
 Have ‘trail or tentative closes’.
 Have several ‘business close’.

17. Step -5 Getting through
 Get proposal
 Collect premium
 Arrange medical examination
 Ask for leads.

18. Objection
The result of interview steps is :
 A state of conscious awareness of the
need has been created;
 The need has been properly
emphasized;
 The need has been accentuated to the
extent that the prospect feels worried
and agitated.

19. WAYS OF MEETING OBJECTIONS
 AGREE WITH THE PROSPECT,
DON’T CONTRADICT HIM.: ‘YES
-BUT’ METHOD.
 RESTATE THE OBJECTION
 INTRODUCE A NEW THOUGHT

20. MOTIVATION
EMOTION IS A GREAT DRIVING
FORCE AND THE SALESMAN
MUST USE IT WITH DISCRETION.
THE RIGHT WORD, SPOKEN IN
THE RIGHT MANNER CAN MAKE
ONE, CRY, LAUGH, CALM DOWN
OR GO WILD WITH FURY.

21. TO ENHANCE MOTIVATION
 LOVE AND
AFFECTION
 FEAR
 SELFISHNESS
 BARGAIN
 STATUS
 PRESTIGE
 SHAME
 SHOWING OFF.

22. MOTIVATION NEEDED
MAKE IT HARD NOT TO BUY:
 RE-CAPITULATE AND FURTHER
ACCENTUATE THE PROPOSERS NEED
 RELATE HUMAN INTEREST STORIES.
 ROUSE EMOTIONS, PARTICULARLY
OF LOVE AND AFFECTION AND
FEAR

23. MAKE IT EASY TO BUY:
 BY KEEPING THE COST OF THE PLAN WITHIN
THE MEANS OF THE PROSPECTS.
 BY SUGGESTION CARRY INSTALMENTS OF
PREMIUM
 COMPARE THE COST WITH BENEFITS.
 BY SYNCHRONIZING PREMIUM PAYMENT
PERIOD.
 BY EXPLAIN CLAUSES FOR TEMPORARY
FINANCIAL STRINGENCY OF THE PROSPECT.
 BY ARRANGING MEDICAL EXAMINATION AT
HIS CONVENIENCE

24. ASK FOR OR (MINOR)
DECISION:
 BY ASKING SOME INFORMATION
(RELATED TO INSURANCE
PROPOSAL)
 BY SUGGESTING MEDICAL
EXAMINATION .
 BY ASKING FOR FIRST PREMIUM.

25. The closing procedure will be
helpful:
 C is for ‘choice’
 L is for ‘loss proof’
 O is for ‘obligation’
 S is for ‘seek hidden objection’
 E is for ‘example’

26. The End
Thank you
akmeliashussain@live.com
26Elias - ASB