The Empire Life Insurance Company

1. The Empire Life Insurance Company Group Marketing & Distribution

2. Empire Life • “Tell me and I will forget. Show me and I might remember. Involve me and I will understand.” - Confucius

3. The Group Marketing Process Typically Involves: • Negotiated Placement • Closed Bidding • Competitive Bidding

4. Pre-Sales Activities We are going to examine some Pre-Sale activities: • Prospecting • Preparation & release of RFP • Decision to quote/no-quote • Analysis of proposals

5. You Can Sell Group Insurance • Selling Group Insurance is not that much different than selling Individual Life Insurance • Group Insurance goes hand in hand with personal and business insurance • Small groups often go untouched because the agent is unaware and the group specialist can’t be bothered with small cases

6. Help through Group Representatives • Help is available through Group Representatives • Most insurance companies can provide you with presentation material • Use the carrier’s material to develop your own reports

7. What’s in it for you! • You currently have the customers • If you have sold business insurance, you have a potential group sale • Chances are your individual clients work somewhere - they can give you key information on their group benefits • Group Insurance is an ideal hunting ground for individual sales - you have an easy and frequent lead to prospects

8. What’s in it for you! • Commissions are substantial and renewable annually - build yourself a base salary • Can be an entrée to other sales - no other sales activity provides you contact with both management and rank and file employees. • You can show them the value of working with a qualified insurance consultant so they can engage without fears of obligation or high pressure tactics

9. Getting Ready to Sell • Know your products and services • Follow up on requests for information immediately • Return phone calls / emails immediately • Maintain contact with all parties • Put everything in writing • Never assume that something will be taken care of • Send thank you letters

10. Literature on Products • Study literature on products • Take courses such as CEBS or RHU • Research your prospect, your prospect’s company, their business conditions and the competition • Be aware of your competition

11. Empire Life • Companies don’t buy group insurance, people do – • BUILD RELATIONSHIPS

12. Prospecting • Does the prospect have or need group insurance? • Is your prospect the decision maker? • What is the track record of your prospect - how is their business? • Does the prospect have an understanding of the services you can provide them? • Will an insurance carrier accept the risk associated with that group?

13. Where to look for Prospects • - Warm Leads • Your own client files • Personal acquaintances • School Alumni • Former co-workers • Social interests, hobbies, political organizations • Business organizations • Cultural commonality - Religious Organizations • Contacts do not have to be prospects themselves - they can be referrals - do you work with an Accountant or Lawyer who can refer you to businesses?

14. Where to Look for prospects • - Cold Leads • Business directories • Annual Reports • Business or trade publications • Magazines or newspapers • Locals Chamber of Commerce or BBB • Public Libraries • Association membership lists • Government Publications • Internet

15. Be Referable • The most common source of referrals are satisfied clients • Before you ask for a referral, reconfirm their confidence in you and your products and service. • When asking for a referral, describe in broad terms what you are looking for in a qualified employer. • Report back the outcome of the referral to the referrer

16. Preparation & Submission of Proposal • Determine the employer’s objectives • Ascertain the resources required • Confirm compliance with requested benefits • Verify if financially competitive • Confirm benefit maximums matched or exceeded • Present a high quality professional submission

17. What Insurance Needs are Required?

18. To Quote or Not To Quote • the desirability of the risk – Is the group acceptable to the carrier? • the completeness of the RFP • reasons for marketing • the competitiveness of the current premium rates • ability to match current or requested plan design • capability to provide requested administration & claims • the timing constraints • who the current insurers are

19. Check-List • Information Included in a Proposal • Description of deviations, if any • Description of eligibility for coverage • Schedule and description of benefits • Monthly premium rates • How renewal rates and reserves are calculated • Underwriting assumptions or conditions • Description of services provided

20. Muddy Waters Insurance Services • 11111 – 111 Street • Edmonton Ab • T6J 2P1 • Employee Benefits • Request to Quote: • For • Company Name • April 2006

21. Empire Life • We have been requested to provide quotation for Employee Benefits for XXXXXXXXX Company. We are marketing this plan because they are have received several substantial increases in the past few years • Nature of Business • XXX Company is a printer and bookbinder. They are affiliated with a National printing organization and are able to take some spin off contracts. This company has grown substantially in the last 3 years and has planned for steady growth in the future • Company Address • This is an Edmonton company with locations in Calgary and Red Deer or • 11795 – 124 Street • Edmonton, Alberta • T5P 2L5 • Phone 780-424-6666 • Fax 880-424-6661 • Website • WWW.XXXcompany.net

22. Empire Life • BUSINESS • Nature of Business • Affiliates and Subsidiaries • Length of Time in Business • EMPLOYEES • Number of Employees • Union Employees • Contract Employees • Waiting period for new hires • Waiting period for current employees • Coverage is Mandatory or Optional • EE’s not covered by Workers Compensation • Definition of Full time • Definition of Part Time • Bonus or Commissions

23. Empire Life • DISABLED EMPLOYEES • Number of Disabled Employees • Prognosis • DURATION of Disability/Return to Work date • Has Life waiver been accepted • Current Carrier • How many years with current carrier • Reason for marketing • Benefit ER Contribution EE Contribution • Life • AD&D • Dependent Life • STD • LTD • Health • Dental

24. Empire Life

25. Empire Life

26. Empire Life

27. Analysis of Proposals • Compliance with RTQ • Service capability • Financial competitiveness • Guarantees • Quality of provider (stability)

28. Empire Life

29. Empire Life

30. Empire Life

31. Post-Sale Activities • Enrolment of employees • Installation and administration • Ongoing service and renewals

32. Enrolment of Employees • Explaining the group benefits • Completing the enrolment material

33. Installation and Administration • Deliver billing, contract, ID cards, certificates, employee booklets, claims forms, administration forms • Train administrators

34. Ongoing Service and Renewals • Establish rapport with client and employees • Provide ongoing statistical information • Resolve problem issues

35. Becoming a Better Sales Person • The Seven Deadly Sins in Selling • This valuable information comes from the book “If You Were Arrested For Selling…. Would there be enough evidence to convict you?” from author Ian Selbie who is also the founder and CEO of Conselleo. http://www.conselleo.com/ • Ian’s book discusses the effectiveness of being a good sales person, which are tools I am sure all of us can use.

36. THE SEVENDEADLY SINS IN SELLING • Calling at non-decision making levels • It’s about “qualifying” not “closing” • Not using a consistent, systematic sales process • The premature proposal trap • Lack of a documented and measurable sales plan • Not using customers as a powerful sales tool • Thinking that “software” alone will correct aninconsistent or ineffective sales process

37. SIN #1 • Calling at non-decision making levels • “yes or quick no” vs “slow no” • most precious sales asset... time • beware of the influencer lock • double your win potential by calling high first

38. SIN #2 • It’s all about qualifying not “closing” • the closing problem perception • the harder they push, the further away the deal gets... • understand the client’s pain, why they need it… • then qualify: why, who, when, how much, who else...

39. SIN #3 • Use of a systematic sales process • sales people & sales processes • client inconsistency • sales management nightmare • inaccurate revenue forecasting • best sales practices... consistent approach

40. SIN #4 • The premature proposal trap • fastest way to get rid of a sales person? • no commitment to needs assessment... no proposal • “just fax me your proposal” • trusting them to sell it for you • forecasting fluff • always present your proposal

41. SIN #5 • Not having a documented & measurable sales plan • if you fail to plan, you plan to _______ • annual sales plan documenting: • - strategies, activities, goals, revenue targets • resting on the laurels of past wins • assign revenue AND activity quotas • you can’t manage results, just the activities that lead to results

42. SIN #6 • Not using your very best sales tool • most powerful sales tool is “proof” • the customer reference letter • relationship, reference, repeat referral • put your clients on your sales team

43. SIN #7 • Thinking that software alone will correct an inconsistent sales process • good process must come first • 70+% of CRM projects fail to meet expectations: • - no process prior to software • - no buy-in from sales (time/ROI) • the right process, with a methodology, then the tool

44. How to be Successful!

45. Empire Life • Conclusion and Questions?