Showing posts from May, 2008

SBI Life Insurance

Creating the “pull” in Life Insurance
Insurance has a very strong sales focus. There are other financial services like mutual funds where people themselves take the initiative and contact the companies or agents. But for life insurance, invariably the buyer is never the initiator. The agency model of life insurance companies involves a number of insurance agents who work under a sales manager. These may be house wives, retired people or even professionals looking for some extra income. Their job is to contact people, understand their specific needs and offer a customized insurance plan to them to cater to their needs. Needs could be a) Retirement planning b) Protection against untimely death c) Saving for future children’s needs d) Saving a lump sum for an event like buying a house ect e) Investment option for superior returns ect. These needs are there for every one of us. But it is the insurance agent who makes us realize them. This realization is the first step towards convincing …