European Institute of Management and Finance | Selling Principles of Insurance Products
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Selling Principles of Insurance Products

Selling Principles of Insurance Products


The marketing and selling of insurance products of both Insurance Markets (Life and General) are generated by a strong legal base and are limited by the tight economic environment.


A key element of this work is the modern techniques that need to be used to determine needs and choose the best solution for the benefit of each customer, through the commonly accepted Marketing and Selling Process (MSP).


The purpose of this programme is to provide the appropriate techniques to give each participant the knowledge and skills necessary to provide a different and enhanced Marketing and Selling approach, thus being more effective, as well as looking at possible adjustments required for increasing productivity.



Programme Objectives


By the end of the training programme participants will be able to:


  • Prospect appropriate markets and communicate for programme and contact development
  • Identify insurance needs and study the financial conditions of their customers
  • Appraise prospects and select the approaching methods based on a predefined client profile
  • Propose insurance programmes and design customised presentations based on customer needs
  • Handle objections that may arise in any negotiation constructively and assertively



Programme Outline


Prospecting Insurance Customers and closing the meeting

  • Basic skills in finding prospective candidates
  • Customer engagement techniques through references – Reference Groups
    • Brainstorming and writing: each trainee identifies Reference Groups and the referrals system and writes down scenarios to approach them
  • Communication principles to close meetings with prospective customers


Identifying Insurance Needs and Financial Planning of the Insured

  • Insurance: meaning, insurable risks, life and investment, property and liability
  • The role of the insurance company, and the intermediary connection
    • Workshop: Examining unforeseeable and foreseeable events for prospects and finalizing a proposal
  • A framework for identifying and measuring insurance and financial needs


Appraising and Approaching Candidates for selling Insurance

  • The importance of first impression – control of psychology
  • Ranking candidates and setting priorities for approach
  • Verbal and non-verbal communication and meaning
    • Workshop: Criteria for evaluating candidates based on demographic and professional criteria
  • Client Approach Techniques


Presentation of the proposed solution to the insurance client

  • Types of life insurance needs
  • The Stage of Interest – and the Stage of Silence – the importance of silence in the evolution of the selling process
    • The Purchase – Case study: Participants are given an article at the product level and are asked to create presentations
  • Various types of Selling Presentations


Overcoming Objections, Negotiating and Closing the Sale

  • The 4 big “Objections”: definition and meaning in procrastination
    • Role plays: Handling and overcoming objections
  • Basic negotiation techniques – persuasion and selling
    • Workshop: techniques for closing deals and sales



Training Style


The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, practical workshop examples, role plays and brainstorming. Part of the training will consist of working in groups creating practical tools that will help participants understand how to work in similar occasions.



CPD Recognition


This programme may be approved for up to 5 CPD units in Insurance Services. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.


Professionals requiring CPD units to meet the education requirements for an occupational licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Insurance Services, are advised to consider training subjects in categories that indicate CPD training in Insurance Services.



Who Should Attend


The programme is ideal for:


  • Insurance Intermediaries
  • Administrative staff of insurance companies
  • Employees of insurance brokers, agents and advisers (distribution) offices
  • Banking staff dealing with bancassurance
  • New entrants to the insurance sector
  • People interested in acquiring insurance knowledge and skills as a supplementary job