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Cross Selling of Insurance Products

Cross Selling of Insurance Products. Rene Lugo October 18, 2009 EDTC 3332 Instructional Technology Practicum. Needs Assessment. Cross selling of products has not been implemented successfully in our insurance agency.

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Cross Selling of Insurance Products

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  1. Cross Selling of Insurance Products Rene Lugo October 18, 2009 EDTC 3332 Instructional Technology Practicum

  2. Needs Assessment Cross selling of products has not been implemented successfully in our insurance agency.

  3. Cross selling should be generating a good 40% more of sales income on a daily basis and it should be used with every client that comes in office on an everyday basis. Unfortunately, employees have not been using the system properly, and our sales have not shown an increase in the last twelve months. By implementing new training with a different approach, sales will be increased and customer service will be better.

  4. We believe that by using some marketing tools and enforcing them we can create that surplus sales income from our employees.

  5. Employees will also attend role playing sessions with co-workers to sharpen their obstacle overcoming skills.Employees will also be scheduled to attend motivational sales seminars to promote and instill a positive attitude towards increasing their production.

  6. Employees will be given training on warm approaches, productknowledge, sales techniques. • Employees will attend product knowledge classes and will be able to fully describe to clients the need and the advantage of buying our products.

  7. At the end of training, employees will undergo product knowledge and sales testing to monitor their improvement.

  8. Employees eligible for this new dynamic sales force will be required to fulfill the following requirements needed to become the best in its class.

  9. Product knowledge Certified.Fluent in English and Spanish.2 Years Prior Sales Experience.

  10. The company has selected a sales force that will be compiled of the following characteristics; Gender Male and Female Ages 21 thru 45 Skills Needed Basic Computer skills Education High School Diploma

  11. Classes will be held in our meeting room:An office scenario will be prepared, overhead projectors will be installed to view product videos, and an instructor will observe the role playing outcome.Training Schedule will be as follows:Monday Thru Friday8:00 a.m. thru 9:00 a.m.Mr. Chavez will be holding the class and you will also be performing online training.

  12. Policy guidelines, coverage, claims, underwriting, deductibles, limits, and customer service will be covered in this manual.We have prepared brochures, role playing scripts and we have demanded a quota of sold products from each employee.

  13. Cross Selling techniques and implementations will be discussed and outlined. • Approach the customer. • Warm Greeting • Update personal information • Perform need analysis •  Inform customer • Incorporate product into personal need • Explain benefit of product • Instill sense of product urgency

  14. Product knowledge • Auto Insurance • Eligible Drivers • Eligible vehicles • Discounts • Underwriting guidelines • Life Insurance • Eligible ages • Time Periods • Need analysis • Home Insurance • Coverage territories • Coverage options • Coverage limits

  15. Employees will be paired up with each other and incentives will be given at different levels of accomplishments.

  16. Materials needed Product Brochures Sales technique manual Computer manual

  17. Online Assessment • 1. Do you greet the customer with a smile? • 2. Do you know customer by name? • 3. Do you know if the customer has a wife and kids? • 4. Does the insured owns a home? • 5. Are you familiar with customer's coverage?

  18. 6. Do you know the customer's hobbies, ex: boating, motorcycling, traveling? 7. Is the customer new or has he been with the company for more that 1 year? 8. Is the customer self employed? 9. Does insured have a retirement plan? 10. Would you like to make more money?

  19. Needs Assessment Instructional Goals Performance Objectives Assessing of Learning Outcomes Learner Characteristics Learning Context Instructional Strategies Instructional Resources Training Module Blueprint Formative Evaluation

  20. Small Group Evaluation The small group evaluation will be used to assess the learning and progress of the training. Since the most important aspect of the training will be based on role playing, employees will have the task of constructively criticize the outcome of each other and adjustments or changes will be implemented.

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