personal selling in life insurance

2017-18@iiConvergence ALL RIGHTS RESERVED – find us at http://iiconvergence.comor on Skype in LinkedIn or at FB or at Twitter or on whatsapp at 881 891 0500

2 Days MSF Certification for Sales Mastery

PERSONAL

SELLING SKILLS IN

LIFE INSURANCE

http://iiconvergence.com/

ritesh.kpandey

https://www.linkedin.com/company/iiconvergence

https://www.facebook.com/iiConvergence

https://twitter.com/pandeykritesh



http://bit.ly/2w6FF3P



STANDARD SALES PROCESS

Suspecting

Prospecting

Taking Appointments

Counselling

Objection Handling

Negotiation

Closing


ritesh.kpandey








2 Days MSF Certification for Sales Mastery Suspecting

Prospecting

Listing of Prospective Customer

through Natural Market

• List of prospects categorically

• Seeking appointments

Counselling


ritesh.kpandey









Introduction

Presentation

Objection Handling

Negotiation

Enthusiastic

Energetic

Positive Attitude

Communication Skills

Investing Possibilities

Investing Mode

Need Identification

Proactive in Nature

Focused Observation

COUNSELING

Characteristics


ritesh.kpandey









“3” BASIC SALES APPROACHES

StandardNeed

SatisfactionProblem-

Solution

• Pat statements and refined sales pitch

• Good for rookies, uniform for Mgmt.

• No listening

• Lots of careful questions to find opportunity

• Full analysis of customer needs


ritesh.kpandey









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


ritesh.kpandey









CALL PREPARATION

• Know your product inside out.

• Be knowledgeable about the industry.

• Know your competition

• Know the basics of the customer's needs.

• People in common.

• Believe in yourself, your company, and

product.


ritesh.kpandey









32165

23160

23155

21345/50

12335

23130

32125

PROTECTIONINVESTMENTSAVINGSAGE

CUSTOMER’S NEED IDENTIFICATION

‘AGE - WISE’


ritesh.kpandey









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


ritesh.kpandey









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”


ritesh.kpandey









1. Best Savings and Prudent Investment.

2. Perfect Short Term & Long Term Investment Planning.

3. Higher Returns with Calculated Risk & Cover.

4. Child Protection & Education.

5. Flexibilities, Liquidity & Opportunity Driven Investment.

6. Family Protection & Security – Higher Risk Cover at Low

Cost.

Get some CARDS - printed – (Prepared Page)

BENEFITS

Tax Benefits (Section 80 – C & Section 10-10-D) with One & All


ritesh.kpandey









The Five Golden Questions to follow…

THE OPENER

For Need Satisfaction & Problem-Solution Approach

Why do you get worried due to these results?Q.5

If you don’t get the opportunity for it, What could be

the results?

Q.4

Why it is important for you? Q.3

Why did you choose it? Q.2

What is your first Priority? (from the list of Benefits of insurance)Q.1


ritesh.kpandey









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!


ritesh.kpandey









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.


ritesh.kpandey









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?


ritesh.kpandey









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


ritesh.kpandey









HANDLING OBJECTIONS

– Listen

– Agree/restate without prejudice

– Get clear about the real issue

– Discuss solutions

– Ask for a commitment


ritesh.kpandey









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?


ritesh.kpandey









BUYING CLUES

• Nonverbal yes’s

• Sounds good…

• Focus on delivery and terms in discussion

• Timelines

• Pulling out forms


ritesh.kpandey









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?


ritesh.kpandey









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.


ritesh.kpandey









I appreciate your kind attention.

Thank you


ritesh.kpandey







personal selling in life insurance

Business