Dos and donts for insurance policy salesman
Wednesday, 4 May 2011
S M Ibrahim Hossain
Insurance sector is constantly growing since its inception, but it has not been able to reach the level needed for our country. For this, we require educated and trained human resources in this sector. Salesmen have a resilient role to play for the uplift of the insurance industry. In our country many people nourish negative attitudes toward those engaged in insurance activities, particularly the agents or field-level employees this is because salesmen involved with insurance policy selling are not aware of what they deal with. They are not conversant with the appropriate art of selling policies. They lack proper knowledge as much as they lack mannerism. We know people buy something for the following three reasons: = It is necessary for 'right now.' = It is necessary for 'near future.' = It is necessary for 'remote future.' I have asked some salesmen which of the above reasons is applicable for buying insurance policy. Most of them have replied that people buy insurance for the last two reasons i,e. for near future and for remote future, but the real answer is "now" even 'not now' but 'before now,' because who knows accident may happen anytime. Someone may die, may face an accident right at the moment. After death or an accident one will not be able to take insurance benefits for these eventualities without policies. So, one will have to buy insurance policy when he does not need it, because he will not get it when he needs it. There is a saying, "You will have to purchase insurance when, you do not need it, because you will not get it when you need it." If a salesman can convince a prospective client that he needs insurance for now, then shehe will buy insurance policy immediately. Another reason for not buying insurance is, "It would not happen to me syndrome." Usually, people know that there are risks in every sphere of our life, but they think it will not happen to them. So, they think insurance is needed for future and not for now. That is why they are not interested to buy insurance policies. No matter what people think of an insurance salesman, the salesman should have a positive attitude towards himself. He should think that his job is for others' welfare, which is a noble profession. If someone refuses to buy a policy, a salesman should not lose hope rather he should continue to persuade the client until shehe understands the benefits of having an insurance policy. My observation is that the attitude of a salesman should always be positive. A salesman usually thinks when a policy is sold it is profitable for him as he gets commission from the policy. But who gets the bigger profit? The client or the agent? When loss occurs, it is the insured that get the deathaccident and matured claim, not the agent. So, the salesman (agent) should have the attitude that he is doing welfare to others and through this welfare he is getting a small profit (commission). This is service marketing i.e. profit through customer service or customer satisfaction. If the attitude of a salesman is not positive its result will not be positive. For example: If someone gets out from the house with the intention of doing good to others, his every step towards this work will be rewarding. On the other hand, if someone gets out with the intention of doing harm to other, his every step towards his work will be sinful. According to the teaching of Islam, the result of an activity depends on the will. As a salesman is doing well to others by selling insurance policies, he should have a positive attitude towards the selling activities. Salesmen should feel proud that they are doing welfare to others. Some of the positive attitudes for insurance salesmen are as follows: = To keep positive and constructive attitude towards life instead of losing hope. = To adjust easily in any situation. = To show respect to others' opinions. = To view quality instead of fault of others. = To be willing to serve customers. = To greet people with a genuine smile. = To be virtuous with human values. = To be sensitive to understand facial, eye and body languages of others. A small error in attitude will never let a salesman reach his destination. A bad attitude reduces output and negatively influences people around. A positive attitude enhances performance and influences the people around. Thus an overall positive outlook is of paramount importance for success. Positive attitude not only changes one's life but also changes one's world as well. The writer is a Faculty of Bangladesh Insurance Academy and can be reached at e-mail: iab@bdmail.net
Insurance sector is constantly growing since its inception, but it has not been able to reach the level needed for our country. For this, we require educated and trained human resources in this sector. Salesmen have a resilient role to play for the uplift of the insurance industry. In our country many people nourish negative attitudes toward those engaged in insurance activities, particularly the agents or field-level employees this is because salesmen involved with insurance policy selling are not aware of what they deal with. They are not conversant with the appropriate art of selling policies. They lack proper knowledge as much as they lack mannerism. We know people buy something for the following three reasons: = It is necessary for 'right now.' = It is necessary for 'near future.' = It is necessary for 'remote future.' I have asked some salesmen which of the above reasons is applicable for buying insurance policy. Most of them have replied that people buy insurance for the last two reasons i,e. for near future and for remote future, but the real answer is "now" even 'not now' but 'before now,' because who knows accident may happen anytime. Someone may die, may face an accident right at the moment. After death or an accident one will not be able to take insurance benefits for these eventualities without policies. So, one will have to buy insurance policy when he does not need it, because he will not get it when he needs it. There is a saying, "You will have to purchase insurance when, you do not need it, because you will not get it when you need it." If a salesman can convince a prospective client that he needs insurance for now, then shehe will buy insurance policy immediately. Another reason for not buying insurance is, "It would not happen to me syndrome." Usually, people know that there are risks in every sphere of our life, but they think it will not happen to them. So, they think insurance is needed for future and not for now. That is why they are not interested to buy insurance policies. No matter what people think of an insurance salesman, the salesman should have a positive attitude towards himself. He should think that his job is for others' welfare, which is a noble profession. If someone refuses to buy a policy, a salesman should not lose hope rather he should continue to persuade the client until shehe understands the benefits of having an insurance policy. My observation is that the attitude of a salesman should always be positive. A salesman usually thinks when a policy is sold it is profitable for him as he gets commission from the policy. But who gets the bigger profit? The client or the agent? When loss occurs, it is the insured that get the deathaccident and matured claim, not the agent. So, the salesman (agent) should have the attitude that he is doing welfare to others and through this welfare he is getting a small profit (commission). This is service marketing i.e. profit through customer service or customer satisfaction. If the attitude of a salesman is not positive its result will not be positive. For example: If someone gets out from the house with the intention of doing good to others, his every step towards this work will be rewarding. On the other hand, if someone gets out with the intention of doing harm to other, his every step towards his work will be sinful. According to the teaching of Islam, the result of an activity depends on the will. As a salesman is doing well to others by selling insurance policies, he should have a positive attitude towards the selling activities. Salesmen should feel proud that they are doing welfare to others. Some of the positive attitudes for insurance salesmen are as follows: = To keep positive and constructive attitude towards life instead of losing hope. = To adjust easily in any situation. = To show respect to others' opinions. = To view quality instead of fault of others. = To be willing to serve customers. = To greet people with a genuine smile. = To be virtuous with human values. = To be sensitive to understand facial, eye and body languages of others. A small error in attitude will never let a salesman reach his destination. A bad attitude reduces output and negatively influences people around. A positive attitude enhances performance and influences the people around. Thus an overall positive outlook is of paramount importance for success. Positive attitude not only changes one's life but also changes one's world as well. The writer is a Faculty of Bangladesh Insurance Academy and can be reached at e-mail: iab@bdmail.net