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The summer of 2006 still re-mains fresh in my mind. I
was with my family at my home town on a vacation. We
were all enjoying and having fun until that horrifying moment. My father
started sweating profusely and complained of acute pain in his left shoulder.
It dawned on my mother that very moment that he had a heart attack.
We rushed him to the nearest hospital. By God's grace, he received
timely medical assistance and is now hale and healthy. That was when I
realized the importance of insurance and decided to pursue a career in the
insurance sector. This article is based on my experiences in this field.
Among a population of 1.18 billion people in India, it is very
important to decide who your customers are. This can be done using the
following three factors.
Customers must be able to afford an insurance policy by paying
a regular or single premium, as the case may be. Sometimes, it
is likely that you meet a customer who does not have liquidity at
the time of initial interaction. However, he may have some
sources of funds which will mature in the near future, such as a bank
fixed deposit. The prospective customer must be empowered to make a decision
to buy the policy. Customers should be insurable and his needs must be
those which can be met by the insurance provider.
The elevator pitch that is often used by sales trainers is meant to
describe and sell an idea in 30 seconds or less. Though such a goal is too
ambitious, one can use an elevator speech to market oneself as an individual.
The most important thing is to understand the requirements of one's target
audience. This helps in evoking interest in the mind of the prospective customer.
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