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How to Sell Insurance during recession?
Tags :
Insurance, Life insurance, savings, investment, security, Sales, Growth, Business Development, Sales Strategies,insurance policy,insurance cover
Industry :
Insurance
Functional Area : Consumer Sales |
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About "How to Sell Insurance during recession?" topic:
Selling insurance isn't easy. Ask any agent and he'll tell you what all one has to endure to sell a policy. Yet, there are scores in this country who more than survive on selling insurance. Share your knowledge on how to sell insurance during slowdown?
4 debates
, 5 idea contests
, 2 question
on topic: "How to Sell Insurance during recession?"
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(rate this)
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Yes
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11
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No
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DEEPAK SHARMA
| Argues in support of
"No"
| 2 years ago
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It hinges upon how you want to take it-from the point of company or the salesperson.See,insurance is still in its evolution phase with growth of approximately 14% percent per year and only 4% of the insurance sector is organised.All this makes...
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Sabuj Chowdhury
| Argues in support of
"Yes"
| 2 years ago
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their is no product which one can see or feel,yes a very tough one and if one lerans about it very good,the only precaution is donot do any false sales which most of times the superior knows it but forces the new comer to do and then his...
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Dushyant Hada
| Argues in support of
"Yes"
| 3 years ago
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Its no doubt good option but its only for smart hard workers at initial stages, a person who wants comforts of corp. sector then its clearly no at front line sales. but smart hard workers always get success in insurance sector, so it is great...
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Debate: "Sales future In Insurance" deleted from your view.
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1
INSURANCE IS RECESSION PROOF
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Try to become the Financial Advisor
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s.kumaravadivelu
| Supported idea
"Try to become the Financial Advisor"
| 3 years ago
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At the bck drop of the prevailing recession, it is high time to educate people to get their life covered which offers a social protection apart from in built tax saving it offers.A Financial advisor needs to focus on the importance savings in...
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s.kumaravadivelu
| Supported idea
"Try to become the Financial Advisor"
| 3 years ago
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At the bck drop of the prevailing recession, it is high time to educate people to get their life covered which offers a social protection apart from in built tax saving it offers.A Financial advisor needs to focus on the importance savings in...
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Manoj Chaturvedi
| Supported idea
"INSURANCE IS RECESSION PROOF"
| 3 years ago
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Dr.Sanjay i completely agree.Insurance industry is somewhat recessaion proof and because of its huge scope this industry will do wonders in the coming years.Because still a huge population is there which is not insured and they have the...
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Ideate: "Tips for Insurance Agents in a bad economy !!!" deleted from your view.
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Yes
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7
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3
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No
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Dushyant Hada
| Argues in support of
"Yes"
| 3 years ago
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Yes why not, but remember its insurance not investment. Agent must sale insurance and by thsi he can thrive in even bad economic condition
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Susanta Panda
| Argues in support of
"No"
| 3 years ago
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i can't agree with amit's comments and Media is showing what is happening right, and they are showing what will happen if recession continues and there is nothing wrong in it, just because that people are not scared, because they have lost their...
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Debate: "Can Insurance agents Really Thrive In A Down Economy?" deleted from your view.
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(rate this)
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1
Target online consumers
2
How to increase Insurance sales ?
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Rakesh Shastri
| Supported idea
"How to increase Insurance sales ?"
| 1 year ago
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Why didn't you paste the original link, from where you have copied other person's views pasted them with your name. http://ezinearticles.com/?3-Steps-to-Increase-Your-Insurance-Sales-Results id=776806
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K. Chandrakumar
| Supported idea
"Target online consumers"
| 1 year ago
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I think everything has to be made online, right from sending forms. It ensures a paperless office. Policy bonds should be delivered online
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Padmanabhan R
| Supported idea
"Target online consumers"
| 2 years ago
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Growth potential is huge in India. People should be made aware of the importance of insurance. Small premium products should target rural areas. Insurance companies should employ bancassurance or sale through panchayats or like government bodies...
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Ideate: "How to increase insurance sales ?" deleted from your view.
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(rate this)
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Yes
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7
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2
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No
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Jairam Gopalan Aiyer
| Argues in support of
"Yes"
| 3 years ago
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Yes, it is already happening Bancassurance. Recently, for an educational loan the Bank suggested to one of my customer - a Term Policy; after discussing with the customer I convinced them for a Whole Life Policy. Another Bank has now suggested an...
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Danaseker
| Argues in support of
"No"
| 3 years ago
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One way it is good but in other way Insurance business is done mostly by individual Insurance Advisors whose career will be affected.
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Niranjan Meena
| Argues in support of
"Yes"
| 3 years ago
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Yes I feel that multi distribution channel will help the insurance companies. Multi-distribution is the most effective way for insurers to attract new customers and increase the wallet share from existing customers. The average mature-market...
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Debate: "Multi-distribution channel- a growth lever for insurance.!!" deleted from your view.
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(rate this)
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Dushyant Hada
| Answered
| 3 years ago
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The future of Insurance is great and in coming days its going to be big contributor to GDP. Reason: Heavy focus on infrastructure development, more inclination towards better life style be it shelter, food, education or entertainment or health....
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AMOD KUMAR YADAV
| Answered
| 3 years ago
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If you see the static still 65 % to 75 % people dont have insurance in India. Even 30 % to 40 % people dont know about insurance or its benifit. Its seems that India have bright future for Insurance.
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Jithesh Ramesh
| Answered
| 3 years ago
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We live in the information age. People are becoming more aware of the importance of insurance in their life. But then there is a growing need to educate people to buy insurance and make them aware of the importance of insurance in their life....
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Answer: "what is the future of insurance in INDIA?" deleted from your view.
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Reduces Future Profitability
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insurance should be done in good time when we dont need it
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vishab veer singh rana
| Supported idea
"insurance should be done in good time when we dont need it"
| 3 years ago
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i believe insurance should be done at a time when require it least.because at that time when we dont require it.is a best time to take by which we can make sure that in any future troubles.we would not be sufferred with any trouble in life.so...
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vishab veer singh rana
| Added idea
"insurance should be done in good time when we dont need it"
| 3 years ago
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Insurance should be done at a time when we dont require it.
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Malik Abrar Altaf
| Supported idea
"Reduces Future Profitability"
| 3 years ago
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yes definitely the present economic crisis will reduce future profitability , but not only for firms or industry-vide, but from the consumers point of view. as we know that most of the population in india which is insured contains irrational...
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Ideate: "How Is the Financial Crisis Impacting the Insurance Industry?" deleted from your view.
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(rate this)
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Yes
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2
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5
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No
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lavanyavuppuluri
| Argues in support of
"No"
| 2 years ago
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yes for insurance companies that is true. My point of view is from corporate who provide insurance to thier employee. For this financial year- we have seen few companies- They will insure their employees at lesser premium- either by those two...
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Susanta Panda
| Argues in support of
"Yes"
| 3 years ago
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I think due to recession hospital industry is getting more affected people who used to be in hospital for treatment have reduced their duration of stay in hospitals and that has affected the cost or the hospitals as well.
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Niranjan Meena
| Argues in support of
"No"
| 2 years ago
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What I believe is, when the companies are already struggling at the time of recession, how can they reduce premiums in medical insurance which is one of their source of Income. Also, they have to collect the medical insurance amount before the...
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Debate: "Recession and Medical Insurance" deleted from your view.
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(rate this)
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1
Training & Development
2
Market Segmentation and Insurance products and services that cater to the needs and wants of these segments
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Niranjan Meena
| Supported idea
"Training & Development"
| 2 years ago
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I also support my friends idea regarding the training and development in the insurance companies. Many people in India are unaware of the insurance policies, this is due to lack of proper training to agents who promote insurance policies. So...
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Meetu Sardana
| Supported idea
"Training & Development"
| 2 years ago
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There is a greater need to train people in this sector. The major factor which is acting as a hindrance to growth of Indian insurance sector is the lack of trained professionals.
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A.Mohamed Ali
| Supported idea
"Training & Development"
| 3 years ago
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Hi, The basic qualification of any sales person is " Understanding Customer's needs and delivering accordingly. Understanding the customer's need can only be achieved by listening and observing the suctomer. We must make the customer speak
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Ideate: "How to grow and survive in the Indian Insurance Market ???" deleted from your view.
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(rate this)
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1
insurance in the bad market
2
Slowdown = Bag full of Challenges
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Maria Colaco
| Added idea
"Sales a challenge"
| 3 years ago
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In the Indian Context Insurance is still viewed as a tax instrument and not as a need. Customers are still not aware of the adequate insurance they need. Most of the customers have purchased insurance to save taxes and not for the reason that...
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Jithesh Ramesh
| Supported idea
"insurance in the bad market"
| 3 years ago
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Definitely I support Mr.Krissh completely.If the insurance agents or advisors are not keeping in mind the needs of customers and are offering them the policies or products which they are not in need of then that will definitely bring down...
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Ideate: "What challenges are faced by Insurance companies during this slowdown period ????" deleted from your view.
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