Five Important steps to successful sales of critical illness insurance

Five Important steps to successful sales of critical illness insurance

As the words say, Critical Illness Insurance is an insurance product, where the insurer is contracted to make a lump sum payment in case where the policy holder is diagnosed with one of the critical illness listed in the insurance policy. This specific product is sold by the insurance companies through insurance agents worldwide. In such a case, the companies as well as agents have to find the place where they can get people suffering from critical illness to sell such product. To make such sales more victorious, you can follow as well planned strategy consisting of a five step formula. The same is given below.

  

Step 1: Identify the Market where you want to sale: Initially you have to find the market for selling the Critical Illness Insurance. So first try to find the prospective customers. You can take data from the companies providing health insurance. They may have the details of people suffering from critical illness. Prepare whole database and set the market area where your prospective customers belong to. Initially it may be hard to decide your market base, but if you follow proper system you can easily succeed in the task.

Step 2: Identify the Gap: After finding the details of prospective customers and identifying the market, try to find out the reasons of gap between you and the customers. There can be reasons like communication gap, no awareness or less awareness, lack of knowledge, lack of motivation, etc. So it’s necessary to remove such gaps so that you can increase your sales by communicating with the prospective customers.

Step 3: Come in contact with the people who really need it: Try to communicate with the people who actually need such insurance to meet the critical illness treatment expenses. You can try to directly communicate with them. It is the best way of removing gaps between the product and the customer.

Step 4: Use Marketing Tools: For communicating with prospective customers, there are so many marketing tools available in the market. List of some of them is given hereunder:

-          Direct Contact

-          Making the customers know about the product through Advertisement in newspapers, TV Channels, Radio, etc

-          You can arrange for campaigns to bring awareness in people, as once people are aware about the seriousness of the product, sales will definitely increase.

-          You can also promote them through schools, hospitals etc.

-          Advertisement can be given online regarding the critical awareness insurance. It is the most modern way of imparting the information in public.

-          Grapewine is also a very effective informal mode to advertise the product.

Step 5: Prepare Marketing Program: Once you come in contact with customers, you have to frame marketing program to increase your sales. You can frame attractive schemes, give discounts; provide better and unique services by differentiating your product from the others sold in market and much more stuff can be added keeping in mind the profit factor. Try to impress existing customers. They will definitely drag others in the scheme if they are well satisfied with the product.

The above tips can be helpful if your profile and other factors support the same. It is suggestive and you can use the same at your own option.