The country’s legal principles, regulations, directives and code of ethics, which may have effect on the sales process. | Build customer relationship - Identify sales opportunities based on insurance needs of specific customer segments (life) and their risks
- Establish first contact with customers and agree on a sales meeting
- Explain to the customer his/her personal and professional background and situation (intermediary registration, company/companies represented and the types of services he/she offers)
| - Act in a professional and ethical way
- Building up a confident relationship which is beneficial to all parties
- Identify customer needs and develop standard financial solutions
- Apply the right sales strategy towards the customer
- Creating a balance between the customer, adviser and the company when conflicts of interests occur
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The overall structure, conditions, competition and practices of the national financial market. | - Obtain the required releases for the Personal Data Protection Law and also the information and the documentation required by the Anti-Money Laundering Legislation.
- Guide the customer (private and business) through the sales process autonomously and systematically
- Handle the sales process appropriately, showing empathy for the customer situation and adapt own communication to the situation
| - Identify own need for continued education and learning
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The tax aspects of a contract | Make a needs analysis - Identify relevant (risk) information to be gathered for the individual customer
- Collect relevant information and data
- Identify the needs and wishes of the customer
- Identify the risks
- Identify non-covered risks and inform the customer about them
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The concept of risk and risk management | - Identify potential bad risks that are to be avoided or to be priced by an underwriter
- Identify the economic possibilities of the customers
- Identify cross-selling and up-selling possibilities
- Get customers’ acceptance on the identified risks and needs
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The economic aspects of life insurance contracts | - Identify possible fraud situations
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The policy cover, terms and conditions relevant to the customer including standard extensions and/or limitations. | Develop a solution - Offer a solution that will cover all the typical customer’s life insurance needs
- Compare the insurance needs and wishes of the customer with the possible existing coverage
- Develop possible solutions in order to cover the identified gap
- Identify the most suitable solutions for the customer
- Ensure that the solution complies with relevant regulation
- Handle typical life products and/or risk situations
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The components of premium calculation | - Cooperate with underwriters and other insurance partners in putting together the solution (specific coverages, clauses, conditions, price, etc.)
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Selling life insurance and financial products allowed according to national law for private and/or business customers | Propose solutions to the customer and explain obligations and benefits - Show the (possible) gap to the customer
- Present and explain the benefits of the solution(s) to the typical customer
- Offer the appropriate product/s and explain fully and correctly the insurance conditions
- Make sure that the customer understands the contract/s offered
- Compare the solution offered to the competitors’ products (brokers)
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Products | - Explain how the solution meets the needs and wishes of the customer
- Agree with the customer on the solution to be followed
- Document/take notes of the meeting(s)
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The customer (risk) profile, loss tolerance and behaviour | Complete sales process and finalize the signing of the contract - Initiate the tasks necessary to fulfil the contract as appropriate (i.e. surveys, medical examinations, certifications, etc.)
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General principles of buying and selling in relation to the customer’s life cycle | Follow up the contract - Maintain the relationship with the customer and review the individual contracts
- Take measures to manage customer portfolio
- Assist the customer in case of a claim. Advice concerning claims process: stages, duration, etc.
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Communication principles | - Create and establish a professional relationship with the customer
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Sales software and support tools (e.g. databases) | - Offer solutions for standard life/pension situations
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Basic claims handling | - Guide colleagues, sub-agents and/or employees in finding solutions and managing customer relation
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Working processes within the company/organization | | |
