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What is the exception where you can mention a product over the phone? | • You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance
• Example of presenting the purpose:
• I am from Mr. Popescu, our mutual acquaintance
• Did Mr. Popescu inform you that I will call you?
• All right
• I know you are interested in insu... |
What mistakes to avoid in the telephone approach? | • In the telephone approach, your main "weapon" is your voice; use it as effectively as you can:
• Avoid:
- Flat voice
- The stammer
- Long sentences
- Diminutives
- Sweets
- Flattery
- Arrogance
- Presentation of products - with one exception
- Exaggerations
- Apologies
• Each of these mistakes is an additional reason... |
How do you deal with the "Not now" objection? | • It is actually another form of expressing the objection "I don't need"
• A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home)
- A: Not now
• Insurance is like a parachute: ... |
How do you solve the "I don't have money" objection? | • Most often it is also a form of expressing the objection "I don't need"
• A customer who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property)
- A: I have no money
• How to tell you ... If today,... |
How do you resolve the "I don't trust" objection? | - A: I don't trust insurance
• I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting)
- A: I don't trust insurance
• You see... after an earthquake there will be two categories of people: some who will receive money for a... |
How do you deal with the "I don't need it" objection? | - A: I don't need it
• You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting)
- A: I don't need it
• Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will ... |
How do you deal with objections that never stop...? | - A: No... No... No...
• Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed?
- R: Leave it, you don't care about me... you care about your commission
• Frankly, I, with or without a policy, am neither richer nor poorer... but your family, wit... |
What are the objectives of the telephone approach? | • The telephone approach has a main objective and a secondary objective:
- The main objective is to schedule an appointment
- The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding |
What are the rules of the telephone approach? | - Respect the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease
- Build a universal approach scenario; use Braino's recommendations and prepare a scenario that suits you
- Be prepared for objections; prepare a set of your own responses to each objection
- Af... |
How do you handle objections to the telephone approach? | • The telephone conversation is a stage prone to objections; why?
- Romanians disregard insurance
- The client doesn't know you
- Your call may drop at an inopportune moment
• Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks
• "You don't make spring wi... |
What is the specificity of the telephone approach? | • Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary
• The telephone approach is an activity with a high nervous consumption, which generates discomfort
• The fact that you anticipate being turned down, sometimes even in a cheeky ... |
What mistakes to avoid in the telephone approach? | • Try to (self) evaluate the way you do the telephone approach
• You can do it in two ways:
- Ask someone - a colleague or a family member - to give you feedback
- Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and... |
How do you solve the "I don't have money" objection? | • Don't fall into the trap of saying "But I don't want to sell you anything"; of course you want to sell!
• Forget expressions like "I just want to get to know each other", "I just want to see what policies you have"; don't start the relationship with lies...
• Don't make the mistake of saying - from the phone - "Well,... |
How do you deal with objections that never stop...? | • A customer lost today is not necessarily a customer lost forever
• The client who turned you down today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about peo... |
How do you recommend the right life insurance? | • Who needs life insurance?
• How do you recommend life insurance with savings?
• How do you size a life insurance? |
How do you recommend the right life insurance? | • If the customer stubbornly asks you for a different solution than the one you recommend, send them an email with your reasoning
• He will never be able to say that he was not well advised
• Insist on selling the client "enough" insurance, i.e. sufficient protection against major risks: death, disability, serious illn... |
What is risk tolerance? | • Risk tolerance is the client's willingness to assume a potential loss in the hope of obtaining a high gain
• A customer who has a high risk tolerance is willing to lose money, that is, to receive at the maturity of the policy less than he paid |
Who needs life insurance? | • People need death insurance...
• People need death insurance... |
How do you determine risk tolerance? | • You can ask the client the following two questions:
- Would you borrow 3,000 Euros to invest them? (Yes No)
- If the investment made a loss, would you leave the money there? (Yes No)
• Conclusion:
- If the client offered at least a "No", then it means that he has low risk tolerance
- If the client offered two "Yes", ... |
How do you size death insurance? | • A client has "enough" death insurance if the insured amount represents the equivalent of his income over a period of 3...5 years
• Mortgages, if any, must be added to this amount |
How do you size life insurance with savings? | • A life insurance with savings is sustainable in the long term if the insurance premium falls within the range of 5...8% of income |
How do you recommend life insurance with savings? | • You will recommend life insurance with savings based on: |
Why do people with credit need life insurance? | • In case of premature death, the balance of the loan will be paid by the insurer
• The beneficiary of the insurance is the creditor (e.g. the bank)
• If the sum insured exceeds the balance, the family will receive the difference |
Why do people on whom the fate of a family depends need death insurance? | • With the death of the person, the income that he brought to the family also disappears
• Life insurance replaces the income of the prematurely deceased person |
Why do key people in a business need life insurance? | • In the case of the premature death of the key person of the business (it can be a manager, a valuable engineer, an IT-st, an architect, a doctor, an exceptional professional in general), it is possible that both the turnover and the profit business to decline
• Sum insured can be equal to the profit generated by the ... |
What is the child savings package? | • The optimal savings option for the child is the package composed of:
- The savings plan for the child
• Life insurance of the insured (usually the parent)
• The insured's permanent disability insurance due to the accident
• Exemption from payment of premiums in case of invalidity of the insured |
What policy do you recommend to a client with a high risk tolerance? | • You recommend a unit linked investment policy to a client with a high risk tolerance |
What policy do you recommend to a client with a low risk tolerance? | • To a client with a low risk tolerance, you recommend a guaranteed policy, ie mixed life insurance |
What is risk tolerance? | • Avoid the question "Which profit do you want, more or less?"
• All people will benefit as much as possible
• But not everyone is willing to take risks
• Don't rush to recommend the type of savings insurance until you've determined your risk tolerance
• If you recommend wrongly, you will induce unrealistic expectation... |
Who needs life insurance? | • To sell life insurance you can appeal to feelings of care, affection and even shame
• For example, you can ask:
• What will relatives and friends say about you if you leave your family without money?
• In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, de... |
How do you size life insurance with savings? | • If the client asks you why it is "so expensive", explain that, whatever happens to him, the money goes back to the family
• What is not known is only the moment…
• When sizing life insurance with savings, you start from the available premium, because at the same insured amount. the policy is more expensive than the d... |
How do you recommend life insurance with savings? | • Don't forget the "formula" of satisfaction: Satisfaction = Expectations - Reality
• Even if the company also has unit linked for children in its portfolio, it recommends a guaranteed savings plan for the client's child
• Otherwise, it will be difficult for him to tell the child that he invested badly, on his behalf..... |
Why do people on whom the fate of a family depends need death insurance? | • If the dependent client asks:
• If I die, what else do I need insurance for?
• reply:
• If you die, will your descendants still need money to live on?
• Life insurance does not ensure that you do not die
• But life insurance ensures that your plans don't die with you |
What is the child savings package? | • If the insured brings up the rigidity of the package - for example the difficulty of partial withdrawals - say:
• You just save
• The money belongs to the child
• Uses the "domino principle" to highlight the fact that savings continue unchanged in the event of death or disability of the insured - an unbeatable advant... |
What policy do you recommend to a client with a high risk tolerance? | • Life is priceless…
• And then how can you size a life insurance?
• Life insurance is money, paid out in hard times or good times
• A customer with a high risk tolerance will buy the unit-linked policy for the mirage of profit
• Emphasize this specificity as best as possible |
What policy do you recommend to a client with a low risk tolerance? | • If you attach the exemption clause from paying premiums in case of disability, the policy becomes the ideal long-term savings tool
• If the insured becomes disabled, the insurer will save in his place
• A customer with low risk tolerance will buy life insurance for the sum assured
• Emphasize this advantage as best a... |
What is the exception where you can mention a product over the phone? | • You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance
• Example of presenting the purpose:
• I am from Mr. Popescu, our mutual acquaintance
• Did Mr. Popescu inform you that I will call you?
• All right
• I know you are interested in insu... |
What is the specificity of the telephone approach? | • Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary
• The telephone approach is an activity with a high nervous consumption, which generates discomfort
• The fact that you anticipate being turned down, sometimes even in a cheeky ... |
What are the objectives of the telephone approach? | • The telephone approach has a main objective and a secondary objective:
- The main objective is to schedule an appointment
- The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding |
What are the rules of the telephone approach? | - Respect the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease
- Build a universal approach scenario; use Braino's recommendations and prepare a scenario that suits you
- Be prepared for objections; prepare a set of your own responses to each objection
- Af... |
What mistakes to avoid in the telephone approach? | • In the telephone approach, your main "weapon" is your voice; use it as effectively as you can:
• Avoid:
- Flat voice
- The stammer
- Long sentences
- Diminutives
- Sweets
- Flattery
- Arrogance
- Presentation of products - with one exception
- Exaggerations
- Apologies
• Each of these mistakes is an additional reason... |
What mistakes to avoid in the telephone approach? | • Try to (self) evaluate the way you do the telephone approach
• You can do it in two ways:
- Ask someone - a colleague or a family member - to give you feedback
- Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and... |
How do you deal with the "Not now" objection? | • It is actually another form of expressing the objection "I don't need"
• A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home)
- A: Not now
• Insurance is like a parachute: ... |
How do you solve the "I don't have money" objection? | • Most often it is also a form of expressing the objection "I don't need"
• A customer who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property)
- A: I have no money
• How to tell you ... If today,... |
How do you solve the "I don't have money" objection? | • Don't fall into the trap of saying "But I don't want to sell you anything"; of course you want to sell!
• Forget expressions like "I just want to get to know each other", "I just want to see what policies you have"; don't start the relationship with lies...
• Don't make the mistake of saying - from the phone - "Well,... |
How do you deal with the "I don't need it" objection? | - A: I don't need it
• You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting)
- A: I don't need it
• Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will ... |
How do you resolve the "I don't trust" objection? | - A: I don't trust insurance
• I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting)
- A: I don't trust insurance
• You see... after an earthquake there will be two categories of people: some who will receive money for a... |
How do you deal with objections that never stop...? | - A: No... No... No...
• Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed?
- R: Leave it, you don't care about me... you care about your commission
• Frankly, I, with or without a policy, am neither richer nor poorer... but your family, wit... |
How do you deal with objections that never stop...? | • A customer lost today is not necessarily a customer lost forever
• The client who turned you down today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about peo... |
How do you handle objections to the telephone approach? | • The telephone conversation is a stage prone to objections; why?
- Romanians disregard insurance
- The client doesn't know you
- Your call may drop at an inopportune moment
• Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks
• "You don't make spring wi... |
What is the child savings package? | • The optimal savings option for the child is the package composed of:
- The savings plan for the child
• Life insurance of the insured (usually the parent)
• The insured's permanent disability insurance due to the accident
• Exemption from payment of premiums in case of invalidity of the insured |
What is the child savings package? | • If the insured brings up the rigidity of the package - for example the difficulty of partial withdrawals - say:
• You just save
• The money belongs to the child
• Uses the "domino principle" to highlight the fact that savings continue unchanged in the event of death or disability of the insured - an unbeatable advant... |
What is risk tolerance? | • Risk tolerance is the client's willingness to assume a potential loss in the hope of obtaining a high gain
• A customer who has a high risk tolerance is willing to lose money, that is, to receive at the maturity of the policy less than he paid |
What is risk tolerance? | • Avoid the question "Which profit do you want, more or less?"
• All people will benefit as much as possible
• But not everyone is willing to take risks
• Don't rush to recommend the type of savings insurance until you've determined your risk tolerance
• If you recommend wrongly, you will induce unrealistic expectation... |
What policy do you recommend to a client with a high risk tolerance? | • You recommend a unit linked investment policy to a client with a high risk tolerance |
What policy do you recommend to a client with a high risk tolerance? | • Life is priceless…
• And then how can you size a life insurance?
• Life insurance is money, paid out in hard times or good times
• A customer with a high risk tolerance will buy the unit-linked policy for the mirage of profit
• Emphasize this specificity as best as possible |
What policy do you recommend to a client with a low risk tolerance? | • To a client with a low risk tolerance, you recommend a guaranteed policy, ie mixed life insurance |
What policy do you recommend to a client with a low risk tolerance? | • If you attach the exemption clause from paying premiums in case of disability, the policy becomes the ideal long-term savings tool
• If the insured becomes disabled, the insurer will save in his place
• A customer with low risk tolerance will buy life insurance for the sum assured
• Emphasize this advantage as best a... |
Who needs life insurance? | • People need death insurance...
• People need death insurance... |
Who needs life insurance? | • To sell life insurance you can appeal to feelings of care, affection and even shame
• For example, you can ask:
• What will relatives and friends say about you if you leave your family without money?
• In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, de... |
How do you determine risk tolerance? | • You can ask the client the following two questions:
- Would you borrow 3,000 Euros to invest them? (Yes No)
- If the investment made a loss, would you leave the money there? (Yes No)
• Conclusion:
- If the client offered at least a "No", then it means that he has low risk tolerance
- If the client offered two "Yes", ... |
How do you size death insurance? | • A client has "enough" death insurance if the insured amount represents the equivalent of his income over a period of 3...5 years
• Mortgages, if any, must be added to this amount |
How do you size life insurance with savings? | • A life insurance with savings is sustainable in the long term if the insurance premium falls within the range of 5...8% of income |
How do you size life insurance with savings? | • If the client asks you why it is "so expensive", explain that, whatever happens to him, the money goes back to the family
• What is not known is only the moment…
• When sizing life insurance with savings, you start from the available premium, because at the same insured amount. the policy is more expensive than the d... |
How do you recommend life insurance with savings? | • You will recommend life insurance with savings based on: |
How do you recommend life insurance with savings? | • Don't forget the "formula" of satisfaction: Satisfaction = Expectations - Reality
• Even if the company also has unit linked for children in its portfolio, it recommends a guaranteed savings plan for the client's child
• Otherwise, it will be difficult for him to tell the child that he invested badly, on his behalf..... |
How do you recommend the right life insurance? | • Who needs life insurance?
• How do you recommend life insurance with savings?
• How do you size a life insurance? |
How do you recommend the right life insurance? | • If the customer stubbornly asks you for a different solution than the one you recommend, send them an email with your reasoning
• He will never be able to say that he was not well advised
• Insist on selling the client "enough" insurance, i.e. sufficient protection against major risks: death, disability, serious illn... |
Why do key people in a business need life insurance? | • In the case of the premature death of the key person of the business (it can be a manager, a valuable engineer, an IT-st, an architect, a doctor, an exceptional professional in general), it is possible that both the turnover and the profit business to decline
• Sum insured can be equal to the profit generated by the ... |
Why do people with credit need life insurance? | • In case of premature death, the balance of the loan will be paid by the insurer
• The beneficiary of the insurance is the creditor (e.g. the bank)
• If the sum insured exceeds the balance, the family will receive the difference |
Why do people on whom the fate of a family depends need death insurance? | • With the death of the person, the income that he brought to the family also disappears
• Life insurance replaces the income of the prematurely deceased person |
Why do people on whom the fate of a family depends need death insurance? | • If the dependent client asks:
• If I die, what else do I need insurance for?
• reply:
• If you die, will your descendants still need money to live on?
• Life insurance does not ensure that you do not die
• But life insurance ensures that your plans don't die with you |
What can be the consequences of business interruption? | • Sudden loss of income due to cessation of production or cessation of services
• Loss of strategic customers, especially in case of exceptional stock shortages
• "Leakage" of key employees, respectively experts and singular specialists
• Loss of image – a company "on the rocks" loses its attractiveness, both for custo... |
What fixed and additional costs will the insurer cover? | • The insurer will compensate:
- The cost of cleaning and fitting out the damaged premises
- Moving costs to and from the new premises
- Utilities from the new headquarters
- Dismantling the damaged machine
- Transport, installation and testing of the new machine
- Wages, including overtime
- Bank installments, insuran... |
What compensation was paid on the business interruption clause? | • Compensation paid on business interruption clause =
74,250 Euros |
What is turnover? | • Turnover represents the amount of money that can be paid to the insured for the goods sold, delivered or for the services provided in direct connection with the business |
What is secured by the business interruption clause? | • The business interruption clause ensures the gross profit
• There is the possibility of exclusively ensuring fixed, constant or increased costs, and the clause is called "increased work costs" |
What is compensated in case of damage? | • In case of damage, based on the business interruption clause, the following are compensated:
- Fixed costs (salaries, installments, insurance premiums)
- The additional costs necessary to restart or continue the activity (for example, moving, renting equipment, overtime, etc.)
- Net profit |
What total amount did the insured collect under the policy? | • Based on the insurance policy, the client received compensation from two sources:
- 65,000 Euros, representing the value of the destroyed equipment and the cost of repairing the building affected by the fire; the insured would have received this amount even if he had bought the "empty" SME policy, without business in... |
What total amount will the insurer pay? | • The insurer will pay:
• Material damage, based on SME insurance
• Consequential damages, based on the business interruption clause, namely:
- Net profit |
What are fixed expenses? | - Utilities (partly)
• Fixed expenses from those expenses that must be carried out in any conditions and are not related to the level of production:
- Wages
- Depreciation
- Bank rates
- Insurance premiums |
What are variable expenses? | • Variable expenses are those expenses that are related to the level of production:
- Commissions
- Transportation costs
- Raw materials
- Packaging |
What are consequential damages? | • Consequential damages represent indirect damage, arising as a result of the occurrence of an insured event, and consisting of:
- Increase in specific costs
- Decrease in profit
• Consequential damages are usually exclusions on property insurance policies
• Business interruption may result in greater losses than destr... |
How did sales evolve during the compensation period? | • During the compensation period, sales were:
• In the first 7 months, in which the company operated at the new headquarters, and used the lower capacity machine, sales were 10,000 Euros
• In the last 2 months, when the company returned to the old headquarters and used the new equipment, sales were 9,000 Euros |
How is the insured period determined? | • The insured period is determined according to:
- The existence of alternative headquarters for moving the activity
- The existence of spare machinery
- The time required to repair or replace production machinery
- The existence of stocks of raw materials
- Estimation of the time required for customer recovery |
How is the sum insured determined? | • The insured amount is determined based on the business plan
• There are two possible scenarios, from the perspective of the insured:
• Turnover is expected to stagnate
• The increase in turnover is estimated, with the percentage of... % |
How long is the compensation period? | • The compensation period begins with the occurrence of the insured event
• The compensation period will end when the first of the following two situations occurs: |
Is casco insurance valid if the driver is drunk? | • Depends
• If the car was stolen and the thief drove the car while drunk, the insurer will pay the compensation and take recourse against the thief
• If the car was driven by a drunk driver, but with the consent of the insured, the policy will not produce effects |
Is casco insurance valid without winter tires? | • Yes, but insurers apply a penalty
• When should winter tires be put on?
• The recommendation is to install them from October or at the latest when the weather turns bad (mule, snow, poles) |
Is casco insurance valid without a license? | • Depends
• If the car was stolen and the thief drove the car without a license, the insurer will pay the compensation and take recourse against the guilty party
• If the car was driven by a driver without a license, but with the consent of the insured, the policy will not produce effects |
What are the criteria for determining the insurance premium for the casco policy? | • Criteria differ by insurer and depend on each individual's policy
• The most important criteria are:
- Age of the vehicle
- Natural or legal person
- Vehicle type (make, model, cylinder capacity, power, maximum authorized mass)
- Destination (private use, commercial, taxi, rentals, etc.)
- Age of the insured
- Age of... |
What documents and information are required to issue the casco policy? | - Identity card or CUI
- Receipt (front / back)
- Vehicle ID card (front / back)
- License (front / back)
- The number of kilometers on board
- Risk inspection
• For new vehicles:
- The bill
• For second-hand vehicles:
- Proof of making RAR |
What is casco insurance? | • Casco is an optional insurance aimed at owners of vehicles registered in Romania
• On the basis of this insurance, damages suffered by your own vehicle are compensated (unlike RCA, whose effects benefit the damaged third parties) |
What is franchising and how does it work? | • The deductible is that part of the damage for which the insured remains his own insurer (in other words, he pays it out of pocket)
• By introducing the deductible, the aim is to increase the insured's interest in the insured asset and the existence of a correct attitude towards risk
• Plus the casco policy is not a v... |
What is risk inspection and how is it performed? | • The risk inspection is an assessment of the physical and technical condition of the vehicle
• It consists of taking a set of pictures, with a clean car, in daylight
• As a rule, photos are taken showing the following:
- Body integrity (pictures from the 4 corners)
- The 4 rims and tires
- Punched chassis series (or i... |
What exclusions does the casco policy contain? | • Excluded risks differ between insurers, but there are common exclusions such as:
- Damages incurred in circulation outside the validity of the ITP
• Driving without a license or during the suspension period, under the influence of drugs or alcohol
• Bad intent or gross negligence
• Damage caused by simple combustion,... |
Which casco policy should I choose, with or without excess? | • Depends
• Both options have advantages and disadvantages
• Usually, customers who have deductible policies are more careful
• But, even if you take out a policy with a deductible, but if the accident is the fault of another driver, identified, then the deductible does not apply
• The choice is yours |
What risks does the casco policy cover? | • There are two categories of risks:
• There are differences in how these risks are grouped, depending on the insurer |
What happens if I stop paying the premium? | • The policy remains valid during the grace period, which is usually 15 days
• Subsequently, the policy can be suspended, for a certain period of time, according to the provisions of the insurance conditions (the duration depends on the insurer) or it can be terminated, starting from the date immediately following the ... |
What happens in case of total loss? | • The insured receives the maximum insured sum from which the value of the wreckage is deducted
• Depending on the type of damage (accidental damage, total theft, natural events), each insurer specifies the exact compensation conditions in the policy (for example, whether or not certain deductibles apply, etc.) |
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