Banks also sell insurance, why not switch to professional insurance?
In recent years, the trend of bancassurance (selling insurance through banks) has grown strongly when a series of banks signed exclusive agreements with major insurance companies. Today’s bankers not only mobilize deposits, lend, sell bonds, but also sell insurance. There are many bankers who, after selling insurance, suddenly realize that it is a new opportunity and decide to change careers.
Mr. Tran Hoai Phong (37 years old, HCMC) is one of the people in that trend. Before switching to insurance, Mr. Phong was the head of the treasury department, having worked in the banking industry for more than 10 years.
The former banker shared that when he graduated from college, banking was a very “hot” industry, very difficult to get into and the salary and bonus were very attractive compared to the common ground. With a university degree in law and economics, he worked in the legal and human resources fields and applied the knowledge he learned to develop at the bank.
“Over 10 years of working, when I decided to quit my job to switch to insurance, my boss at the bank advised me to stay and propose to a higher position. However, I still refused because I knew it was the right time. ready to step into a new field, new environment.In fact, the charm with insurance started right from the time I worked as a bank, although I am not a sales specialist, I also participated in selling Bancassurance”, Mr. Phong said.
Although working in the back office, the former banker still sells very well, even having the top sales, surpassing sales professionals even though he has no customer data, nor does he have tools like “selling beer with peanuts” like you do credit. “I sell by the way of true insurance, selling really according to the needs of customers. That’s why I think that if it’s at a bank selling insurance, why don’t I sell insurance in a more professional way, better customer service”.
Phong also shared that the decision to change careers was because he saw the ripeness of the insurance industry. The current market is very different from 20 years ago when only 10-11% of the country’s population participated in insurance, the market is very hot and needs a young generation of qualified and knowledgeable consultants. to develop and replace the old team of consultants. “It’s not only a career opportunity with a better income but also a humane meaning, I really want to take better care of customers, bring a better image to insurance.”
“When I was at Eximbank, many colleagues also wondered, I worked in administration, human resources, treasury, worked from 6:30 am to 8 pm, but didn’t sell insurance, did not go out but still had revenue, even even leading,” he confided.
In fact, the customers that he exploited were not from the bank’s customer data. At night, when he came home from work, he took out his phone, there were about 1,000 friends, only about 200 people were close and familiar. Then he started sending mail, zalo, facebook, even post office. There are special people, he wrote a handwritten letter, 4-5 pages long about benefits, illustrated insurance, even wrote a poem to his old teacher, advising on insurance benefits. Customer data around is never exhausted, can make more friends with your friends. As for offline, the former banker shared that he can sell to his neighbors, visit the market to buy things, and advise.
That is the first step to approach customers, Mr. Phong is also meticulous in consulting. For example, instead of handing out leaflets, which would normally be rejected from the start, he invested in buying more clear bags to hold leaflets and then distributing them to everyone. “If they don’t hand out leaflets, they won’t take them or they will throw them away, but many people will take clear bags so they can hold papers, money, …. They accept bags and documents which is a good start. I without begging, forcing, customers will have sympathy”.
Having worked at a bank, Mr. Phong said that most sales professionals currently do not provide practical advice, mainly “selling beer with peanuts”, selling insurance and other bank products. Banca channel will be the trend and the market share will be bigger and bigger because the banking system is very large and the bank’s customer data is also huge. However, it will be difficult for the Banca channel to keep up with the agency channel in terms of professional service and advice. “Banca channel is having an image of selling beer with peanuts, not fully advising customers, nor taking care like agent channels. For example, when a customer has a problem such as being hospitalized, Banca channel will ask to bring Only when the documents go to the bank will they do it, and the agent can send people to the place.”
Also, the difference between an insurance banker and an agency insurance consultant is quite large. Currently, banks sign contracts with insurance partners usually only 5-10 years, after that time they can change partners, most bank staff sell insurance according to KPIs, not really understanding. about the product. It seems that the Banca channel is maintaining a temporary direction, no one thinks about sticking with selling insurance for a long time, they usually just meet the quota. Meanwhile, for agency consultants, insurance is a career.
Because he wanted to pursue professional insurance sales, in July 2020, Mr. Phong officially quit his job at the bank and switched to working at Prudential again. Only 45 days after joining, the former banker has had a remarkable achievement when he won the MDRT title. After that, he achieved Pru Elite diamond, once reached the top 10 new consultants with the highest sales nationwide in July and August 2020. His income is also 3-5 times higher than when working as a bank.
After only 45 days officially working at Prudential, the former banker has had a remarkable achievement when he won the MDRT title. After that, he achieved Pru Elite diamond, once reached the top 10 new consultants with the highest sales nationwide in July and August 2020.
Mr. Tran Hoai Phong said that it is an ongoing fact that not only he but many other bank employees are also turning to insurance and having certain success. The phenomenon of migration from banks to insurance is increasing because they see better opportunities because working in banks is also quite stressful and has to bear many risks but the income is not commensurate. With insurance, an income of 50-100 million is not difficult, in the hands of bank employees because they have the qualifications and ability to endure, the hard work is trained during the years at the bank. Of course, this also depends on the qualities and patience of each person, not everyone who transitions from banking to insurance is successful.
Those who want to switch from banking to insurance also need to prepare in advance for the difficulties they may face, the biggest of which is the opposition of family and relatives. “Many people say that the industry is very bad, doing the multi-level model. People who are not fortunate enough to be in the industry are mostly because they can’t overcome the pressure of their loved ones, even they themselves think that the insurance industry. not ‘sang'”. In addition to the customer development plan, many consultants, after exploiting all their close relationships, are lost, cannot find new customers and think about leaving the industry.
Meanwhile, the insurance profession needs patience, just like going fishing, sometimes I can’t do it for a whole year, but on the first day of the second year, the customers that I “sow” before will ” sprout”, call me to sign a contract. It is important to consult impartially, conscientiously with customers.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
