Selling insurance policies is different in most part of the world especially in developed countries where there is a high level of awareness about the benefits of it. There are many bottlenecks that make the job of an insurance sales agent tougher in non-developed countries than that of his counterpart in other advanced countries. From cultural barriers to poor awareness, an insurance sales agent has many hurdles to cross, while the job may look simple, it is not difficult either especially if the potential agent has certain qualities from training to great enthusiasm. We are going to highlight some of the traits insurance sales agent should possess in order to succeed in the business.
Must have a training
Having realised that a situation where just anybody can get into the insurance business can led to a lot of damage but insurance agents are licensed. For an individual to be an agent, there is the need to go through the association of registered insurance agent in their country, which regulates insurance agents in their country. After you might have undergo training under the appropriate wing of the association, the individual will then be licensed by the National Insurance Commission. PAY ATTENTION: 6 Proven Hacks to Keep Your Customers Buying More
Knowledge and creativity is key
Apart from the basic training, for you to be a good insurance agent, you must have a knack for knowledge why this is important is because you cannot market a product you do not know much about. Some insurance salespersons underestimate their potential clients. Consequently they do not equip themselves with adequate knowledge; going about with only the basic information about their products. They fail to realise that by having more information than they acquire, including about the variety of products, they are in a better position to convince their target customers as they would come across as experts.
Conviction about products
Once an agent doesn’t have faith in the product or policy he is selling, you are sure to have difficulty in convincing people to buy it. It is also difficult for you to market a product that you are not convinced about. But you will be successful if you believe in the product you are marketing. Stressing that prospective clients are bound to ask agents whether they have used the policy they are selling and if it worked well for them. You must have well knowledge to understand the dynamics of it and what it involves. You must also realise that insurance is not like every other tangible product in the sense that it is a product that has legal underpinnings. There are legal issues that you must be able to personally understand with a view to being able to explain it to your clients.
Your ability to squeeze water out of a rock because insurance in many part of the world is sold and not bought, this means your ability to be persistent and to remain enthusiastic despit the odds. Unlike what they have in the advanced countries, people are properly informed about the value of insurance. The fact that you explained or presented something to people and they don’t agree with you shouldn’t make you to give up. PAY ATTENTION: 4 Common Mistakes Leading to Startup Business Failure
Good human relation
A good human relation is one of the skill that is most important in the insurance business and the insurance sales agent must have it. Some of them argue that there is no way an insurance can succeed with a bad human relations. As a good insurance agent, you should be able to interact with potential clients easily, knowing when to listen and when to talk and empathise with them when necessary. Having a good human relation skill also makes it easier to develop an excellent customer-to-client relationship and it allow the agent to provide more effective customer service.
A great presence
This has to do with the appearance of an insurance sales agent, from the way you dress to your manner of approach and tone. For an insurance agent to be taken seriously and granted an audience, it is important for them to ensure that they dress professionally. It is also advised that an agent avoid using street language except in the neighbourhood where they are sure they only way to reach an individual is by blending in. having a strong presence involves being cheerful and enthusiastic. People are more comfortable with cheerful, enthusiastic people as they get the feeling that such people are problem solvers; people who have everything under control. Your ability to discuss a variety of issues may come in handy.
Have a great focus
An individual who is not mentally and physically prepared may not end up becoming a great insurances salesperson. This is because the process is usually stressful and as potential clients may be resistant to the basic sales speech. A lot of energy, persistent and credibility is required. While your ultimate goal is to make sales which in turn will lead to a commission or better pay, it is unwise for a sales agent to focus solely on the gains as that would affect his or her ability to sell a policy. The focus should be on the features of the policy and also that of what the client stand to gain from the policy. It is best to focus on the benefits of the policy to the client and once this is done honestly and the prospective clients is convinced that there are benefits, the clients is more likely to buy. PAY ATTENTION: Some common attitudes that determine business performance
How to Invest in Stocks: A Beginner's Guide for Getting Started
However, no too many people are eager about dealing with all the figures they believe they will have to face if they invest in stocks. And then there are the terms they have to deal with such as dividend, ordinary shares and percentages. Getting started, the first step you should take when you decide to invest in stocks, having saved enough money for the purpose to get a stockbroking firm that will advise you on the right investment plan that work best. This stockbroking firm will then open with the Central Securities Clearing System which would make it possible for them to buy stock for you. We are all know we cannot just wake up and go out and buy stocks on our own, we must go through stockbroking firm. If you are buying from the primary market, which is the one the company advertise directly, in filling the forms, these advertisers must state the name of their stockbroking firm and their CSCS account number. For the secondary market, they must inform the broker who will then go to the stock exchange and buy for them on a daily basis.
Anytime a stockbroker wants to buy stocks either bonds or equity for an investor, they must be bought into that investor’s CSCS account. Anytime they trade on the floor of the NSE the accounts that are used in trading where the stocks settle into are CSCS accounts. Investors must have CSCS accounts. Investing in stocks is not just about buying shares in as many company as possible, it involves taking more than how much cash is available for consideration. It involves building portfolio. After opening CSCS account the investor will need to sit down with the stockbroker for advice on the kind of security to invest in. Before this process, the professional adviser stockbroker would do what we call a status check to establish the investor’s risk tolerance profile. Base on this two, risk tolerance and investment objectives the stockbroker can construct a portfolio of security for the investor; built either solely on fix income security. If at all the investors have a very high risk appetite the professional adviser can also include some derivatives in the portfolio. Now we have the ETF derivative that is being traded actively on the NSE, it is called the ABSA New Gold ETF.
For the investor who has low risk tolerance, his portfolio can be constructed around fixed income security. When it comes to choosing the right stock to invest in, investors are mostly better off relying on their professional adviser, before and individual can determine the right kind of stocks to invest in that person need to analyse the various factors that will impact on a sound investment or divestment decision. A lot of people do not have the background and also they don’t have the tools for the analysis that is required before they can take-well informed decisions in the capital market. It is possible for people to achieve this themselves. For the, they can select the kind of stocks they want to buy but for majority of investors they need professional guidance.
The market trends is not permanent and it is difficult to say this is the right time to come in or this is the right time to exit. There is no hard and fast rule about the right time to cash in on stocks, investors buy stocks when the prices are low or when the prices are failing. Once investors have a good stockbroking firm and opens an account with CSCS he or she can proceed to invest in shares; the success or failure of the investment depends on market trends and experts of the professional advisers being used.