Question,Answer
What exclusions does optional home insurance contain?,"Wear, seepage, corrosion, fermentation, oxidation, material defects, design errors, construction defects and/or improper assembly
• Smoking, staining or scorching, from normal heat sources
• Moral, consequential and indirect damages, lack of benefit, use or rent, fines, unrealized profits or any other damages that do not concern the materiality of the insured goods
• Damage caused by humidity, dampness, frost (freezing of water in pipes), tanks, vessels and generally unsanitary housing
• Damages resulting from construction works, unauthorized alterations, capital repairs, widening, raising, demolition, refurbishment, repairs, unsuccessful restorations
• Damages caused by improvisations or by the use of unsuitable materials
• Damage caused to goods located in open places (balconies, terraces) or under the open sky, with the exception of tanks and fixed installations by nature and destination
• Damages caused by the hidden defect of the insured property
• Exclusions may differ between insurers"
What are attachments?,"• The annexes are composed of:
• Garage
• Swimming pool
• Gazebo
• Fence
• Annexes are only insured if they were built with a building permit"
What risks does pet or domestic animal liability cover?,"• Covers damages accidentally caused to third parties – bodily injury or material damage, by pets or domestic animals located at the insured address, which the insured is obliged to pay, according to the law"
What does the housing risk clause cover?,"• Covers material damage caused to the rented home, by a fire or an explosion, for which the insured (tenant) is liable
• Recommend all renters you know to take out this insurance
• Otherwise, it could be mentioned that they owe tens of thousands of Euros...
• The clause respects the principle of proportionality, so it is important that the insured sum represents the reconstruction value of the insured (rented) building"
What risks does the good neighbor clause cover?,"• The insurer agrees to waive the right of recourse against those guilty of causing the damage, within the limit of the amount mentioned in the insurance policy
• The clause does not apply if there is an ongoing criminal investigation related to the insured event or the cause of its occurrence or if the criminal guilt of the person responsible for causing the damage has been established
• The maximum limit accepted for waiving the right of recourse is that stated in the insurance policy
• In case of events where the value of the damage exceeds the value mentioned in the policy, recourse will be made only for the difference in amount between the value of the damage and the accepted limit for waiving the right of recourse"
How is the value of the home determined?,"• A home can be provided:
• At the new value
• At real value
• The assessment of the home, both the building and the contents, is the responsibility of the insured"
How are values ​​determined in case of new value insurance?,"• The new value is determined as follows:
• The new value of the building = the reconstruction value, calculated according to the type of building, the year of construction, the materials used, degree of finishing
• The new value of the contents = the purchase cost, calculated on the basis of a list made by the insured, or, estimated, 3,000...3,500 Euros per room, for ordinary homes
• You can't go wrong with this question:
• In case of total damage, how much money would you need to buy, or build, a home with the same level of comfort?
• Customers tend to under-insure their home in order to pay less
• Explains the effects of underinsurance in case of total loss: they will buy a smaller and less comfortable home"
How much does the PAD policy cost?,"• In the case of type A buildings, the insurance premium is 130 lei per year
• In the case of type B buildings, the insurance premium is 50 lei per year"
"If I am repeatedly flooded, will I be compensated each time?","• Yes, but not to infinity...
• By compensating the insured, the insurer acquires the right to make recourse against the guilty party; it can be a neighbor or the administration of the block
• If sued by the insurer for damages, the negligent party is likely to become vigilant and repair its faulty installations
• Explain to the client that, in addition to indemnifying him, an insurance policy also saves him from having trouble with irresponsible neighbors
• Explain to the customer that pre-existing damage is not insured and that if they have been flooded before, they must repair their home before insuring it"
What is PAD?,"• PAD is a partial natural disaster insurance that covers the building only
• According to law 260 / 2008, every home must be insured by a PAD policy"
What risks does the clause for natural phenomena cover?,"• Earthquake (insured together with PAD)
• Floods (insured together with PAD)
• Landslides (insured together with PAD)
• Atmospheric phenomena
• The weight of the snow cover"
What sums insured does PAD have?,"• In the case of type A buildings (concrete, brick, stone or wood), the insured amount is 100,000 lei
• In the case of type B buildings (slab, adobe), the insured amount is 50,000 lei
• PAD is a first risk insurance, i.e. the rule of proportionality does not apply, so a damage is fully covered, within the limit of the insured amount"
"What is meant by ""building""?","• The building includes the construction intended for living, composed of:
• Living rooms
• Annexes
• Dependencies
• Fixed installations
• Moving parts"
What risks does the Landlord Tenant Liability Clause cover?,"• Are covered:
• Damages caused to the tenant by the culpable act of the owner, by bodily injury or death, by damage or destruction of property
• Court costs incurred by the owner in the civil process, if he was forced to pay damages
• Court costs incurred by the tenant in the civil process, if the insured was obliged by a court decision to pay them"
What is the structure of comprehensive home insurance?,"• A complex home insurance is composed of:
• The optional policy can only be issued after issuing a PAD policy or after verifying the existence of a valid PAD policy"
What are dependencies?,"• Dependencies are composed of buildings that:
• They belong to the insured home
• Adjacent to the home
• They have a constructive structure similar to the insured building
• They have a functionality related to housing
• Outbuildings are only insured if they were built with a building permit"
How will I be compensated if a wall has been partially damaged?,• The insurer will cover the reasonable costs of repairing and painting the entire wall
What risks does the liability clause cover arising from ownership of the building?,"• Covers damage caused to third parties, either through bodily injury or material damage, as a result of an accidental event occurring in the insured home
• Examples of covered risks:
• Falling of an object from the balcony
• Icicle or snow falling from the roof
• Detachment of a piece of building due to the storm
• Accidental falling of trees
• Accidental damage to water, hydraulic or thermal pipes in the insured home
• The most frequent damages, in block apartments, are those caused by damage to the water installations
• Usually, both the apartment where the damage occurred and the neighboring houses, located on the lower floors, are damaged
• For the intermediary, it is a good opportunity to ask for referrals and to contact neighbors who have been damaged afterwards
• An experienced person is more receptive to the idea of ​​insurance
• Insurers usually impose certain limits on the sum insured under this clause
• If possible, put as much sum assured on this clause as possible"
How do you respond to objections about home insurance?,"• Uses questions and communicates facts and certainties (for example, the volume of claims paid by insurers, or reputational claims) so that the client realizes for himself that he is wrong
• The customer's objections often hide some unspoken questions that the customer is embarrassed to ask you
• Bring them to the surface; e.g:
• I sense that something is bothering you
• What it is?"
How are the values ​​determined in the case of real value insurance?,"• The actual value is determined as follows:
• The real value of the building = the reconstruction value – the degree of wear and tear of the building
• Actual value of the contents = purchase cost new – degree of wear and tear of the goods
• The degree of wear and tear is defined as depreciation depending on the age and the degree of maintenance
• In case of total damage, it will be very difficult to explain to a despondent customer the impact of the wear grid...
• Only talk to the customer about new value insurance
• It is for his own good"
How do you answer questions about home insurance?,"• Before responding to the client, ask yourself:
• If I received this answer, would I understand what it is about?
• Einstein said:
• If you can't explain something to a 5-year-old, it means you don't understand either
• You must answer in such a way that your answer convinces him to buy
• If not immediately, then as soon as possible
• Answer briefly, logically and to the client's understanding"
What buildings can be insured?,"• Buildings that:
• Are built after 1940 (depends on the insurer)
• They are built from reinforced concrete, metal, brick, stone or wood (depends on the insurer)
• They are built with a building permit
• They are not in seismic risk classes 1 or 2 or emergency class 1
• If the customer is not able to provide accurate information on which to issue the policy, ask for documents
• Anyway, the insurer will ask for them in case of damage
• If you have any doubts about the building, ask for some pictures
• Customers can make mistakes; the pictures, no"
Why does the insurer not determine the value of the building?,"• According to the law, the assessment of one's own assets is the responsibility of the insured
• The insurer's responsibility consists in assessing the damage
• If the customer insists, explain that the insurer has no guarantee that after appraising the customer's home, the customer will buy the policy…
• The insurer can warn the client if he has not correctly determined the insured amount"
"If I do the repair myself, will I be compensated?","• In-house repair is only covered with the written consent of the insurer
• Usually, in order for the insurer to indemnify the in-house repair, it is necessary that the price of materials and labor fall within the scales accepted by the insurer"
"If I change the building, does the policy remain valid?","• If the changes were made on the basis of the building permit, the policy remains valid
• The insurer must be informed, in writing, having the right, in turn, to modify the policy, in the event of a change in the insured risk"
Do I have to present the purchase invoices to be compensated?,"• Yes
• If the purchase invoices do not exist, the insurer will request a detailed description of the damaged goods (type, technical characteristics, year of purchase, condition before the occurrence of the risk)"
Who administers the PAD policy?,"• PAD policies are administered by PAID – the Disaster Insurance Pool
• PAID is a private company whose shareholders are a group of insurers from Romania
• The exhortation ""You must buy PAD, because it is state-owned"" will irritate the customer
• If you say this, you risk hearing ""Then I only do PAD, because it belongs to the state""
• The customer loses, you lose too...
• The statement ""PAD is state insurance"" is false
• PAD is insurance provided by a private company"
What are moving parts?,"• The moving parts are:
• The doors
• The windows
• Skylights
• Closing and protection systems"
What risks does the extended family civil liability clause cover in Romania?,"• Covers the tortious civil liability of the insured and the persons for whom he is responsible according to the law, for damages – bodily injuries and material damage, caused both in the insured home and outside it, in public or private places, where the insured or his family members spend their free time"
What role does home insurance play for a family?,"• The role of home insurance is to guarantee the insured that he and his family will have the same comfortable home as at present, whatever risks occur
• When should you buy home insurance?
• On the day you became the owner of the home
• Or today
• Fire, death and earthquake come unannounced
• Because housing is important, home insurance is also important
• Before..., the policy is just a cost
• After, the policy means a new home"
How do you present your home insurance?,"• This policy allows you to buy a new home, with comparable parameters and the same level of comfort, if the current one is destroyed
• It also gives you money to repair or replace damaged or stolen goods
• Moreover, any damage caused to your neighbors – for example, if you flood them – will be paid by the insurer, instead of you
• Sensitize the customer with powerful questions such as:
• How will you look into your wife's eyes after...?
• Where will your children sleep if...?
• Explain to the client that his decision - ""yes"" or ""no"" will affect not only him, but his entire family
• Your customer is actually family"
What does the third party liability clause cover?,"• Covers damage caused to third parties in the event of a fire or explosion in the insured home
• Damage caused by water used by firefighters to extinguish the fire, drained from the insured home, is also covered
• Insurers usually impose certain limits on the sum insured under this clause
• If possible, put as much sum assured on this clause as possible
• Especially in the case of apartments, the damages caused to the neighbors can be of the order of tens of thousands of Euros, so this clause is very important for the financial stability of the insured's family"
What risks does the family liability clause cover?,"• Covers damage accidentally caused to third parties – bodily injury or material damage, by the insured or family members who live at the insured address, as a result of domestic activities, spending free time, consuming food or drinks that cause intoxication or poisoning, as well as accidental damages caused to housekeepers or service providers"
What are the effects of insuring more than replacement value?,"• Insuring to a value greater than the replacement value is called overinsurance
• The insurance produces its effects until it competes with the effective value of the insured property
• The insured has the right to refund the excess premium"
What are fixed installations?,"• Fixed installations are composed of:
• Electric instalation
• Water and sewage installations
• The heating installation, including the boiler, boilers, radiators, stoves
• Air conditioning installations
• Solar panels"
What are the effects of insuring at less than replacement value?,"• Insurance at a lower value is called underinsurance and has the following effects:
• For partial damages - the rule of proportionality applies
• In case of total loss - the insured amount, less than the replacement value, is paid
• As a derogation, there may be first risk insurance
• Explain to the client the catastrophic effect of underinsurance, especially in case of total loss
• Insists on reconstruction value insurance
• Explains how first risk insurance works with a simple example such as double glazing insurance"
What is the proportionality rule?,"• In case of damage, the compensation will be reduced by the underinsurance coefficient:
• Compensation = (Amount insured / Replacement value) x Damage value"
What risks does optional home insurance cover?,"• The optional policy contains two categories of clauses:
• Each insurer has its own set of basic risks and its own set of additional clauses
• There may also be differences in how specific conditions are defined
• The right insurance is like a well-tailored garment
• Too ""little"" insurance will ""tighten"" the client, in case of...
• Always start the discussion with the client by stating the major risks that can destroy his home: fire, explosion and natural calamities
• This is the main purpose of home insurance"
What is home insurance?,"• Home insurance is the best way to ensure that:
• If my property was destroyed, in a short time my family and I will have an equally comfortable home again
• If I have minor damage, the insurer will pay my money for the repairs"
How is the amount of compensation determined?,"• The expenses incurred by the insured in order to bring the damaged goods to the state before the occurrence of the insured event are covered
• The compensation amount includes the following types of expenses:
• Materials
• Workmanship
• Transport
• Assembly disassembly
• The compensation cannot exceed the insured amount
• Explain to the client that the role of the insurance is to bring him, after a damage, in the same material situation as before the damage occurred
• The first step to an expected compensation is a properly executed policy
• A satisfied customer is more willing to buy ""enough"" insurance...
• ... and to recommend you"
What risks does PAD cover?,"• Floods
• Landslides
• The PAD policy covers three risks:
• Earthquake"
What risks does FLEXA cover?,"• Fire
• Lightning
• Explosion
• Aircraft crashes
• Body falls
• Being hit by motor vehicles
• Damage caused by smoke, gases or vapors
• Note: ""FLEXA"" is an acronym that comes from the English language - Fire Lightining EXplosion Aircraft"
What information do you require to offer home insurance?,"• Year of construction
• The floor (in the case of apartments)
• Number of floors of the building (in the case of apartments)
• The surface
• Amount insured on the building
• Amount insured for contents
• Thermal power plant, alternative energy systems (type, age and value)
• The necessary information is as follows:
• Full address
• Constructive structure"
What risks does the landlord's liability clause cover?,"• Are covered:
• Damages caused by the tenant to the owner due to bodily injury or death, through damage or destruction of the rented residential property, installations, equipment (for example, stoves or ventilation systems) and other movable property rented for the use of the space rent
• Court costs incurred by the tenant in the civil process, if he was forced to pay damages
• Court costs incurred by the owner in the civil process, if the insured was obliged by a court decision to pay them"
Are infiltrations compensated?,"• Not
• Water infiltration means either a construction defect or inadequate home maintenance, and these events are not covered
• Explain to the customer that only sudden and unpredictable events are insured
• And the infiltration is neither sudden nor unpredictable
• Explain to the customer that infiltrations are slow, have visible effects and that their appearance is caused by a construction defect or a material defect"
What do I get if the sums insured are less than the expenses?,"• Regardless of how much the expenses are, small or large, based on the accident policy you receive the same allowance, calculated according to the insured amount and the complexity of the medical act
• In order to be covered even in the case of serious events, which will involve large expenses, it is important to buy enough insurance
• If you want your medical expenses settled, both in case of accident and in case of illness, I recommend health insurance"
What is the role of accident insurance policy for a family?,"• Accident insurance has a double role:
• Death cover replaces the insured's income in the event of his/her accidental death
• Additional clauses provide the insured and, as the case may be, their family members, with the sums necessary for treatment following an accident"
What information do you require to quote accident insurance?,"• The minimum information for bidding is as follows:
• Can you give me your CNP?
• Or the variant: how old are you (only in the situation where the insurer's issuing software allows the offer based on age; later, to issue the policy, you will also request the bulletin)
• What is your job?
• What income do you have?
• Or the alternative: in which range are your incomes?"
What amount does the insured recover if he cancels the accident policy?,"• In case of cancellation of the accident policy, the insured does not recover anything
• Accident policy is pure risk insurance, just like property or car insurance"
How are the sums insured on the accident policy determined?,"• It is recommended that the sum insured at death represents the insured's wages for 3...5 years
• The sums insured on the other clauses can be set at the maximum values ​​accepted by the insurer, correlated with the sum insured at death, so that the family has enough protection in the event of an accident
• No client or widow has ever complained about getting too much money from an accident…"
How do I know I will be properly compensated on my accident policy?,"• Because you will have an insurance contract
• Both your rights and obligations are detailed in this contract
• If the risk that occurred is covered by the policy, you will be compensated without question
• But in order to be satisfied with the compensation, you need to buy enough insurance, i.e. varied clauses and large sums insured"
Who can you recommend accident insurance to?,"• You can recommend accident insurance to anyone, but especially to the following categories of customers:
• People who have risky professions (for example drivers, construction workers, etc.)
• People who have life insurance and want to supplement the protection, especially in case of death and disability due to accident
• People who have an illness that makes them uninsurable with life insurance
• People with modest incomes who cannot afford to buy life insurance"
What documents are required to be compensated on the accident policy?,"• The only clause that requires invoices or tax receipts is ""Accident medical expenses""
• All other covered events are compensated on the basis of medical documents, such as the discharge note, or, in the worst case, the death certificate"
What happens to my accident insurance if I stop paying it?,"• If the installment is not paid by the last day of the grace period at the latest, the policy ceases to be valid after the expiry of the grace period
• Usually the grace period for general insurance, which also includes accident insurance, is 15 days
• Termination usually occurs 30 days after the end of the grace period (or 60 days, or even 90, depending on the insurer)"
What is covered by additional risks?,• Convalescence insurance following an accident
"If I am treated by the state, do I receive compensation on the accident policy?","• Yes
• Accident insurance settles certain expenses, for example medical tests or drugs, prostheses or orthoses, and compensates the medical act or the seriousness of the event, through the other clauses
• For one and the same event - for example a fracture - you may receive a higher or lower amount, depending on how comprehensive the insurance you have taken out is"
What is accident insurance?,"• Accident insurance is a risk product, which covers death and other consequences of accidents
• Insurers offer the possibility of insuring several family members on the same policy
• Some insurers offer accident insurance both as a separate policy and as an optional clause attached to other policies (eg home insurance or casco)"
Is the accident policy also valid abroad?,"• Yes
• Upon returning to the country, you will have to present to the insurer all the documents you obtained abroad: discharge ticket, test results, x-rays, etc.
• You will receive the compensation in lei, as if you had been treated in Romania
• Compensation for emergency medical expenses is settled in full to providers abroad, but not on the basis of accident insurance, but on the basis of travel insurance"
How is the compensation calculated on the accident policy?,"• The compensation is calculated according to the insured amount and the complexity of the medical act
• Here are some examples:
• Surgical intervention is compensated with a percentage of the insured sum, percentage specified in the contract and calculated according to the difficulty of the intervention
• Hospitalization is compensated proportionally to the daily insured amount and the duration of hospitalization
• The fracture is compensated proportionally with the insured amount and the type of fracture"
How do you present accident insurance?,"• Accident insurance protects your family in case of untimely death by replacing your income
• Accident insurance also protects you by providing treatment money to restore your health after an accident
• The policy can provide compensation in case of permanent disability, hospitalization, surgery, fractures and other risks
• Because it is affordable, accident insurance gives you the opportunity to buy large sums insured
• If you want to ""glue"" the accident insurance to another policy, using the price as the main argument, you can present the accident death insurance as a ""funeral aid""
• You can start in this case with the statement of the price; example:
• I can offer you, as a package with the insurance of..., an accident death insurance, which costs you... lei and has an insured amount of 10,000 lei (example)
• Tell me, would the amount of 10,000 lei be enough for the wife to cover expenses, in case of...?
• If you are talking to a family member, and you know - or assume - that they would not buy life insurance, you can try to introduce them to accident insurance
• For a start, even an insurance that only covers accidental death (and possibly disability) is much more than nothing
• You can say like this:
• Accidental death insurance provides consistent and immediate help to the family in the event of a tragedy
• For an amount of several tens of lei, you can be insured from tomorrow for an amount of several tens of thousands of lei"
What medical expenses are covered?,"• Medical consultations
• Medical analyzes and investigations
• Medicines (only those in the list of the state nomenclature)
• Glasses, necessary as a result of the accident
• Prostheses and orthoses"
How much does an accident policy cost?,"• The accident policy is accessible to anyone
• With a small insurance premium you can buy very large sums insured (you can prepare some examples of ""sum insured at death / insurance premium"" pairs, for all fields of activity (with low, medium, high and very high risk)"
How much does health insurance cost?,"• An average would be between 10 and 20 lei per day
• But the price is strongly influenced by the chosen package"
What is health insurance?,"• It is an insurance that offers medical benefits in offices, clinics and private hospitals in Romania and/or abroad"
What risks does individual and family insurance cover?,"• Policies are usually built around certain risks that can be considered core risks
• Additional risks and facilities in using insurance can be added to them
• Each risk has an associated insured amount"
What documents and information do you require to offer health insurance?,"• It is necessary to complete the insurance questionnaire, both for the insured and for the co-insured, if applicable, as well as the copies of the bulletin, respectively of the birth certificate, in the case of minors"
"If I have life insurance with additional clauses, do I still need health insurance?","• Yes, because health insurance is much more complex
• Health insurance contains more coverage and the sums insured are much higher"
What is the importance of health insurance for the intermediary?,"• Because of their social importance in helping to restore health, health insurance has a large potential market because anyone aged 0-65 can have private health insurance
• A customer satisfied with the health insurance services will renew their policy year after year and buy other policies from the same intermediary"
Under what conditions is the policy renewed if I had damage?,"• In general, under the same conditions, but in the case of certain damages, of large or repetitive values, the insurer may decide on burdens or exclusions, or even non-renewal of the policy"
Is the cost of treatment fully reimbursed on the basis of health insurance?,• It depends on the package chosen
How to proceed in case of illness?,• Call the insurer's call center and they will tell you the steps to follow
What documents are required to be compensated on the basis of health insurance?,"• Referrals, medical diagnosis and hospital discharge letters, investigation results, general medical records, hospitalization records are required"
What is the legal regime of health insurance?,"• It is an insurance regulated by a special law, Law no. 212 of May 27, 2004, with all subsequent amendments and additions
• The premiums are deductible up to the amount of 400 Euro / year / person"
What is the difference between subscription and health insurance?,"• The two are complementary: the subscription emphasizes prevention, consultations, imaging and analyses, and the health insurance emphasizes treatments"
Can I take out multi-year health insurance?,"• Health insurance is concluded annually, with the possibility of renewal"
Can I have more than one health policy?,"• Yes, but this is not the optimal health protection solution
• The optimal solution is a very complex policy"
What is Individual and Family Health Insurance?,"• Health insurance is the optimal option through which you can benefit from the appropriate treatment in order to restore your health, at the insurer's expense
• On the other hand, thanks to the prevention clause in the policy, you benefit from checks and investigations, at the insurer's expense, with the aim of detecting possible diseases from the early stages"
What types of health insurance are there?,"• Depending on the number of insured persons there are:
• Group health insurance, taken out by the employer for its employees (it is dealt with in the ""Business insurance"" section)"
What general exclusions does individual and family insurance contain?,"• The most common exclusions are the following:
• Pre-existing diseases
• Alternative medicine (eg detoxification treatments, acupuncture, reflexology, podiatry, osteopathy, aromatherapy)
• Epidemics or pandemics
• Neoplastic conditions (cancer) during the waiting period; there is usually a waiting period of several months, which differs between insurers (eg 6 or 12 months)"
What role does health insurance play in a family?,"• Helps restore health, quickly and safely
• Saves the family money"
Why would I buy private health insurance if I have state insurance?,"• The two insurances are complementary
• State insurance covers emergencies well
• But when it comes to consultations, imaging, and especially hospitalization and operations, private insurance offers more possibilities
• Last but not least, it is also deductible"
What related services does individual and family health insurance cover?,"• The development of medical services and digitization have given insurers leverage to create systems for the easiest and most convenient use of health insurance
• Specifically, they created several facilities, such as:
• Call center 24/7
• Direct settlement in the insurer's network is a default service on any policy, with insurers working towards the continuous expansion of their network of medical service providers
• Dedicated mobile and web applications
• Using a bank card powered by the insurer for advance payments
• Accepting subsequent billing when using out-of-network providers"
How do you present health insurance?,"• You are sure that you will be treated by the best doctors, in the best clinics, in the best conditions, at the insurer's expense
• The same health insurance helps you stay healthy through preventive services"
Are pre-existing conditions covered by health insurance?,"• Since insurance covers the consequences of uncertain and unpredictable events, pre-existing diseases are usually not covered by health insurance
• However, pre-existing diseases can also be covered by an additional clause, under certain conditions, specific to each insurer"
How to proceed in the event of an accident?,"• It depends on the condition of the insured
• If it is a minor accident, he can call 112 himself
• If it is a serious accident, then a family member, or someone else who is in a position to do so, will have to call the insurer's call center and they will communicate the steps to follow"
What amount is recovered on termination of the RCA policy?,"• There are two situations:
• If at least one claim has been recorded on the RCA policy, nothing is recovered
• If no damage has been recorded on the RCA policy, an amount proportional to the number of days remaining in the policy is recovered"
What is the purpose of the RCA policy and why is it important?,"• RCA insurance has two purposes:
• Financial protection of the person / persons damaged as a result of an accident
• Financial protection of the person responsible for the accident; road accidents can cause damages so great that they cannot be borne by those at fault
• For these reasons, RCA insurance has a strong social character, from which the obligation of this insurance derives
• RCA is one of the two insurances regulated by specific laws in Romania:
• RCA
• PAD
• The other mandatory policies are regulated by professional rules (malpractice, lawyers, etc.)
• For the intermediary, the RCA policy represents a starting point in developing the portfolio
• It gives the intermediary the opportunity to sell high added value insurance (life, property, liability) to customers, alongside RCA"
Is the RCA policy valid if you drive with an expired license or without a license?,"• It depends on who is asking
• If the injured party asks, the answer is ""Yes""
• If the insured asks, then the insurer pays the damage, but makes recourse against the driver guilty of breaking the law"
How long can I have a trade-in car under the RCA policy?,"• The regulation is subject to the RCA rule valid at the date of the insurance issue
• An example is that the lease is valid from the time the vehicle enters service until it comes out of repair, but no more than 30 days"
How do I choose the RCA insurer?,"• I recommend that you check the number of complaints and the percentage of valid petitions of each insurer
• For this purpose you can access the ASF website"
Is the RCA policy valid if you are drunk?,"• It depends on who is asking
• If the injured party asks, the answer is ""Yes""
• If the insured asks:
• If the blood alcohol level is below 0.53 per thousand, the policy is valid
• If the blood alcohol level exceeds 0.53 per thousand, then the insurer pays the damage, but makes recourse against the drunk and guilty driver"
What is the bonus-malus system?,"• Insureds (individuals and legal entities) are assessed according to the number of claims paid in the reference period, which is the calendar year prior to the entry into force of the RCA
• Attention!
• According to the law, when determining the bonus-malus class in a year, only the number of claims paid in the reference year is taken into account (not the number of claims incurred, which can be higher)
• The system contains 8 bonus classes and 8 malus classes
• Class B0 is assigned to a new insured with no insurance history
• The bonus-malus system consists in reducing or increasing the rates valid at the time of concluding the RCA policy
• The application is made as follows:
• In the case of natural persons:
• If they have several vehicles, they benefit from the same bonus-malus class for all of them
• The most favorable variant of bonus-malus will be taken into account
• The classification is done automatically, following the query of the AIDA database, depending on the CNP
• In the case of legal entities
• If you own more than one vehicle, the bonus-malus system is applied separately for each individual vehicle
• The assignment is done automatically, following the query of the AIDA database, according to the CUI and the chassis series
• In case of disposal or deletion of the insured vehicle, the insured (natural or legal person) can request the transfer of the bonus-malus class to the RCA policy of the newly acquired vehicle
• The bonus is applied as follows: placement increases by one class at bonus and decreases by two at malus"
What is covered by the RCA policy?,"• Material damages
• Personal injury or death
• The consequence of the lack of use, including the temporary replacement of the vehicle
• Expenses for transporting the damaged vehicle
• Court costs
• Direct settlement (it is an optional clause)
• Through the optional Direct Settlement clause, the injured party can repair his damaged vehicle, based on his own RCA policy, with the following conditions:
• Only two vehicles, registered / registered in Romania, were involved in the accident
• Each vehicle has a valid RCA
• There is damage exclusively to these two vehicles
• There are no bodily injuries
• This clause has proven useful in the recent past, with several RCA insurers paying claims with long delays and not fully covering the damage (ie paying less than they should have)"
Do you need RCA if you keep the car in the garage or if it is parked?,"• Yes
• First of all, it is a legal obligation
• Second, even if the car is stationary, a fire or an accident may occur due to a technical problem"
Why is RCA insurance important to the market?,"• Primarily because it offers financial protection to both the injured party and the insured
• Secondly, because compensation is paid even if the insured has deviations from laws and regulations (for example, he does not have an ITP, he drives drunk, he does not have a license, etc.); there are cases in which, after payment of the compensation, the insurer makes recourse to the guilty person, i.e. recovers the amounts paid
• Conclusion:
• This policy has a strong social impact
• Taking into account the special dynamics of road events, of the car fleet (type of car, age of the fleet, number of vehicles, etc.), both the law and the applicable rules undergo changes at least annually"
Is RCA policy valid without ITP?,"• It depends on who is asking
• If the injured party asks, the answer is ""Yes""
• If the insured asks:
• The insurer will pay the compensation
• The insurer makes recourse against the insured"
What is RCA?,"• Car Civil Liability Insurance (RCA) is mandatory insurance by itself that covers damages caused to third parties through motor vehicle and tram accidents
• RCA is a contract concluded between the owner of a vehicle, natural or legal person, and an insurance company that has the right to practice RCA insurance on the territory of Romania
• The owner of a vehicle must have an RCA contract valid for the entire period in which the vehicle is registered / registered, even if it is not used
• The RCA insurance also includes the former Green Card insurance (with validity exclusively outside Romania, in the countries that are members of the Green Card system)
• The ""Green Card"" document is actually an international certificate of insurance on the basis of which the owner / user / driver of the vehicle for which the document was issued is insured against civil liability for damages caused by means of the respective vehicle, in accordance with the legislation of each state for which the insurance document is valid"
How to renew RCA policy?,"• According to the legal norm, the insurer is obliged to send the insured the renewal offer, based on the data available at that time, on the communication channel agreed with the insured (e-mail or post)"
How is the insurance premium determined on the RCA policy?,"• Each insurer calculates its own RCA premium rate, as follows:
• Based on your own damage history, so as to cover all the obligations arising from the conclusion of the contracts (the rate should not be calculated assuming losses from the start!)
• Using risk criteria, load indices, increase and/or correction coefficients or other rate adjustment tools
• Using a precise actuarial calculation and having the obligation to inform the insured about the calculation method
• Examples of risk criteria:
• Vehicle type
• Engine power (in the case of cars)
• The age of the individual driver
• City of residence"
For what period can the RCA policy be concluded?,"• For vehicles registered or registered in Romania - 12 months, or 6 months or multiple monthly
• For vehicles registered / registered in other member states of the Green Card Office, for which insurance is requested for import into Romania - maximum 30 days from the date of acquisition of the property
• For vehicles intended for export – maximum 30 days
• For vehicles that are provisionally authorized for circulation – maximum 30 days, but cumulative maximum 90 days"
When and how can the RCA policy be terminated?,"• The RCA contract terminates before the due date expires in two situations:
• On the date on which the vehicle owner notifies the RCA insurer regarding the transfer of ownership of the vehicle, accompanied by the supporting documents
• On the date the vehicle is removed from circulation, that is, in case of total damage or scrapping"
"In what situations does the insurer not pay the compensation, although there is a valid RCA policy?",• When both vehicles belong to the same family or the same company
Which vehicles must be insured through RCA?,"• Natural or legal persons who own vehicles subject to registration or registration in Romania, as well as trams, have the obligation to insure themselves for civil liability cases as a result of damages caused by vehicle accidents
• Registered vehicles, which include:
• Wheeled self-propelled vehicles (cars, vans, trucks / tractors, coaches, agricultural and forestry tractors, motorcycles)
• Towed vehicles (trailers, semi-trailers, caravans, etc.)
• Registered vehicles, which include:
• Trolleybuses
• Mopeds, scooters, ATVs
• Tractors and agricultural machinery and equipment
• Other vehicles that do not retain the characteristics of a tractor
• Registered trailers and semi-trailers
• Electric scooters and bicycles (starting in 2024)"
"If you renew your RCA policy, no claim, but by the time the new policy comes into effect a claim has occurred, does your premium go up?","• Not
• The damage will be quantified only at the next renewal of the policy"
What is the territoriality of the RCA policy?,"• The territory of Romania
• The territories of the member states of the European Union, of the states party to the Agreement on the European Economic Area and the territory of the Swiss Confederation
• The territories of the states located between two member states of the European Union, where there is no national car office
• The territories of the states in which the national automotive offices that have signed the Multilateral Agreement are competent
• On the RCA policy, in section 8, the indicator of the state in which the mandatory RCA insurance is NOT valid will be crossed out automatically with an X
• For non-validated states, the Green Card policy is purchased"
What are the maximum indemnity limits on the RCA policy?,"• Compensation limits, established at European level, are also adopted by Romanian law
• Currently, they are:
• For bodily injuries and deaths, including non-pecuniary damages (moral damages) produced in one and the same accident, regardless of the number of injured persons – up to 6.07 million Euros
• For material damage caused in one and the same accident, regardless of the number of injured persons: 1.22 million Euros
• If several people were harmed in the same event and the total value of the damages exceeds the compensation limits specified in the RCA contract, the compensation will be established according to the share of the value of the damage that belongs to each person entitled to compensation for the damages suffered in the same accident"
Is casco insurance valid without winter tires?,"• Yes, but insurers apply a penalty
• When should winter tires be put on?
• The recommendation is to install them from October or at the latest when the weather turns bad (mule, snow, poles)"
How much money do I get back if I cancel the casco policy?,"• Depends
• If there were no claims on the policy, the insurer pays an amount proportional to the number of days remaining until the end of the policy (pro rata principle)
• If there were damages on the policy, the insurer pays nothing"
How do I choose a casco insurer?,"• My recommendation is to orient yourself by the number of petitions and by the weight of well-founded petitions
• You can access the ASF website for this purpose"
What is franchising and how does it work?,"• There are mandatory deductibles (for example, in the case of insured natural persons under a certain age, those with a rich claims history, etc.) and optional deductibles, which can be avoided by paying an increased premium
• The deductible is that part of the damage for which the insured remains his own insurer (in other words, he pays it out of pocket)
• By introducing the deductible, the aim is to increase the insured's interest in the insured asset and the existence of a correct attitude towards risk
• Plus the casco policy is not a vehicle maintenance policy...
• Usually, in the case of partial damage, the excess is paid directly at the service, when the car is picked up"
What types of vehicles can be insured through the casco policy?,"• Wheeled self-propelled vehicles
• Towed vehicles (trailers, semi-trailers, caravans, etc.)"
What happens if I stop paying the premium?,"• The policy remains valid during the grace period, which is usually 15 days
• Subsequently, the policy can be suspended, for a certain period of time, according to the provisions of the insurance conditions (the duration depends on the insurer) or it can be terminated, starting from the date immediately following the due date"
Is the casco policy valid without ITP?,• Not
Can cars be insured over 10 years?,"• In general, no
• There are exceptions, but the written consent of the insurer is required to offer and issue the policy"
What are the criteria for determining the insurance premium for the casco policy?,"• Criteria differ by insurer and depend on each individual's policy
• The most important criteria are:
• Age of the vehicle
• Natural or legal person
• Vehicle type (make, model, cylinder capacity, power, maximum authorized mass)
• Destination (private use, commercial, taxi, rentals, etc.)
• Age of the insured
• Age of the permit
• Number of owners
• One or more drivers
• Damage history"
"If I have more claims during the policy, will they be covered in full?","• Depends
• There are some insurers where the recovery of the insured amount is automatic, being included in the basic package
• With other insurers, this clause is optional
• In any case, the number of claims covered by the policy is limited (for example to a maximum of 3 claims per year)"
What does full casco insurance mean?,"• There is no full casco in Romania, because, just like any other insurance, casco also contains insured risks, mentioned in the policy, completed with the related exclusions, also specified in the policy"
Under what conditions can the casco policy be terminated?,"• There are two situations:
• Termination (termination) is requested by the client
• It can be unilateral, with a predetermined notice period
• It can be through the alienation of the insured object
• May be in case of total loss
• Termination (termination) is requested by the insurer
• It can be unilateral, with a predetermined notice period
• By termination due to non-compliance with the obligations assumed by the contract (non-payment of premiums or essential change in the circumstances regarding the risk – for example switching from private use to taxi)
• Note: according to the latest ASF regulations, the term ""termination"" has been replaced by ""termination"" and ""cancellation"" by ""dissolution"""
Can I cover the repair with new parts?,"• It depends on the option chosen as coverage
• Each insurer has a different policy on this, but most insurers cover repair with new parts"
What risks does the casco policy cover?,"• There are two categories of risks:
• There are differences in how these risks are grouped, depending on the insurer"
What exclusions does the casco policy contain?,"• Excluded risks differ between insurers, but there are common exclusions such as:
• Damages incurred in circulation outside the validity of the ITP
• Driving without a license or during the suspension period, under the influence of drugs or alcohol
• Bad intent or gross negligence
• Damage caused by simple combustion, not followed by fire
• Simulated or exaggerated damages as well as intentional acts
• Nuclear risks, war, trade sanctions or intentional acts
• Pre-existing damage
• Additional equipment brought to the vehicle that have not been declared and/or are not approved
• Deductibles (cannot be insured with another insurer)"
What is risk inspection and how is it performed?,"• The risk inspection is an assessment of the physical and technical condition of the vehicle
• It consists of taking a set of pictures, with a clean car, in daylight
• As a rule, photos are taken showing the following:
• Body integrity (pictures from the 4 corners)
• The 4 rims and tires
• Punched chassis series (or in windshield)
• Dashboard with the key in the ignition and the engine running
• Mileage
• If there are scratches, etc., a detailed photo is taken and the risk inspection report will be recorded in the policy
• Attention:
• Pre-existing damages will not be subject to compensation under the policy that will be issued
• It is advisable that all such damage be repaired, the risk inspection be carried out again and an addendum be issued stating this"
What happens in case of total loss?,"• The insured receives the maximum insured sum from which the value of the wreckage is deducted
• Depending on the type of damage (accidental damage, total theft, natural events), each insurer specifies the exact compensation conditions in the policy (for example, whether or not certain deductibles apply, etc.)"
How is the insured sum determined at casco?,"• It is determined as the market value of the vehicle at the time of its insurance
• The insured amount depends on the degree of wear and tear applied to the new value of the vehicle
• Each insurer sets its own attrition grid, for each year, and falls within certain limits"
Is casco insurance valid if the driver is drunk?,"• Depends
• If the car was stolen and the thief drove the car while drunk, the insurer will pay the compensation and take recourse against the thief
• If the car was driven by a drunk driver, but with the consent of the insured, the policy will not produce effects"
In which service should I repair my car?,"• It depends on the insurer and the option chosen
• In general, it is advisable to go to a service in the network with which the insurer has a partnership"
Is casco insurance valid without a license?,"• Depends
• If the car was stolen and the thief drove the car without a license, the insurer will pay the compensation and take recourse against the guilty party
• If the car was driven by a driver without a license, but with the consent of the insured, the policy will not produce effects"
How do I proceed in case of partial damage?,"• It would be ideal for the client to call his intermediary, so that he, depending on the insurer and the type of damage, tells him the steps to follow
• But, always, the insurer must be notified as soon as possible (usually within 72 hours maximum), without exceeding the term provided for in the insurance conditions, which may vary between insurers"
What documents and information are required to issue the casco policy?,"• Identity card or CUI
• Receipt (front / back)
• Vehicle ID card (front / back)
• License (front / back)
• Number of kilometers on board
• Risk inspection
• For new vehicles:
• Invoice
• For second-hand vehicles:
• Proof of RAR execution"
"Which casco policy should I choose, with or without excess?","• Depends
• Both options have advantages and disadvantages
• Usually, customers who have deductible policies are more careful
• But, even if you take out a policy with a deductible, but if the accident is the fault of another driver, identified, then the deductible does not apply
• The choice is yours"
What is casco insurance?,"• Casco is an optional insurance aimed at owners of vehicles registered in Romania
• On the basis of this insurance, damages suffered by your own vehicle are compensated (unlike RCA, whose effects benefit the damaged third parties)"
What compensation was paid on the business interruption clause?,"• Compensation paid on business interruption clause =
74,250 Euros"
How is the insured period determined?,"• The insured period is determined according to:
• The existence of alternative headquarters for moving the activity
• The existence of spare machinery
• Time required to repair or replace production machinery
• The existence of stocks of raw materials
• Estimating the time required for customer recovery"
How long is the compensation period?,"• The compensation period begins with the occurrence of the insured event
• The compensation period will end when the first of the following two situations occurs:"
What are variable expenses?,"• Variable expenses are those expenses that are related to the level of production:
• Commissions
• Transportation costs
• Raw materials
• Packaging"
What is turnover?,"• The turnover represents the amount of money that can be paid to the insured for the goods sold, delivered or for the services provided in direct connection with the business"
What are fixed expenses?,"• Fixed expenses from those expenses that must be carried out in any conditions and are not related to the level of production:
• Salaries
• Depreciation
• Bank rates
• Insurance premiums
• Utilities (partially)"
What fixed and additional costs will the insurer cover?,"• The insurer will compensate:
• The cost of cleaning and fitting out the damaged premises
• Moving costs to and from the new premises
• Utilities at the new headquarters
• Dismantling the damaged machine
• Transport, installation and testing of the new machine
• Wages, including overtime
• Bank installments, insurances
• During the period of business decline, the expenses, fixed plus additional, were:
• In the first 7 months, in which the company operated at the new headquarters, with the rented equipment, expenses were 45,000 Euros
• In the last 2 months, in which the company operated at the old headquarters, after replacing the equipment, expenses were 15,000 Euro"
What total amount will the insurer pay?,"• The insurer will pay:
• Material damage, based on SME insurance
• Consequential damages, based on the business interruption clause, namely:
• Net profit"
What total amount did the insured collect under the policy?,"• Based on the insurance policy, the client received compensation from two sources:
• 65,000 Euros, representing the value of the destroyed equipment and the cost of repairing the building affected by the fire; the insured would have received this amount even if he had bought the ""empty"" SME policy, without business interruption insurance
• 74,250 Euros, representing the amounts needed to restart the business and reach the turnover before the occurrence of the insured risk, based on the business interruption clause
• Total compensation paid to the insured = 139,250 Euros"
What are consequential damages?,"• Decrease in profit
• Increase in specific costs
• Consequential damages represent indirect damage, arising as a result of the occurrence of an insured event, and consisting of:
• Consequential damages are usually exclusions on property insurance policies
• Business interruption may result in greater losses than destruction of property and assets"
What is secured by the business interruption clause?,"• The business interruption clause ensures the gross profit
• There is the possibility of exclusively ensuring fixed, constant or increased costs, and the clause is called ""increased work costs"""
What can be the consequences of business interruption?,"• Sudden loss of income due to cessation of production or cessation of services
• Loss of strategic customers, especially in case of exceptional stock shortages
• ""Leakage"" of key employees, respectively experts and singular specialists
• Loss of image – a company ""on the rocks"" loses its attractiveness, both for customers and for partners or potential investors"
How is the sum insured determined?,"• The insured amount is determined based on the business plan
• There are two possible scenarios, from the perspective of the insured:
• Turnover is expected to stagnate
• The increase in turnover is estimated, with the percentage of... %"
How did sales evolve during the compensation period?,"• During the compensation period, sales were:
• In the first 7 months, in which the company operated at the new headquarters, and used the lower capacity machine, sales were 10,000 Euros
• In the last 2 months, when the company returned to the old headquarters, and used the new equipment, sales were 9,000 Euros"
What is compensated in case of damage?,"• In case of damage, based on the business interruption clause, the following are compensated:
• Fixed costs (salaries, installments, insurance premiums)
• Additional costs necessary to restart or continue the activity (eg moving, renting machinery, overtime, etc.)
• Net profit"
How are the sums insured on the IMM policy determined?,• The insured sums are determined according to the type of heritage assets:
If I have several premises how can I insure them?,• Most insurers will require each premises to be insured under a separate policy
What information do you require to offer SME insurance?,"• Year of construction
• The CUI of the company
• Full address
• The constructive structure, according to the insurer's specifications
• The surface
• Neighborhoods (N, S, E, W)
• Field of activity
• Protective means
• Owner / tenant
• Amount insured on the building
• Amount insured for contents"
How is the insured amount for working capital determined?,"• The insured sum for working capital represents:
• Production cost, in the case of self-produced goods
• Cost of acquisition, including taxes, in the case of purchased goods"
What types of buildings are there?,"• The typology of the building is established according to the strength structure and the material of the walls
• Reinforced concrete structure, brick walls
• Reinforced concrete structure, sandwich walls
• Metal structure, sandwich walls"
Can I insure goods that do not belong to me (goods in custody)?,"• Yes, provided you have a supporting document attesting to the presence of those goods in your company's premises"
How is the amount insured on the building determined?,"• It is recommended that the amount insured on the building represents the new (reconstruction) value, which means the cost of building a building with similar constructive and functional characteristics"
What are the critical elements of a trading business?,"• A trading business is usually conducted in a shop or warehouse, so the critical elements are:
• The building
• Stock of goods
• The means of transporting the goods"
How is the sum insured for fixed assets determined?,"• The insured amount for fixed assets represents their real value, so it represents the cost of replacing the goods with others of the same type, configuration and quality"
How much money do I get in the event of a claim?,"• If you take out the policy correctly, based on my recommendations, then in the event of a claim you will receive the amount necessary to remedy the damage, so that your situation after compensation is as close as possible to the situation before the occurrence of the risk"
Where will the insurers get millions of Euros to pay after an earthquake?,"• Where do insurers get money from, since their inception, centuries ago: from reserves
• And from reinsurance, especially in case of large claims
• The insurance system is very well set up
• The proof is the fact that traditional insurers have been able to successfully overcome world wars, economic crises, natural calamities and others
• The insurer is your most loyal ally when trouble strikes you
• Please note this"
"If I make changes to the building, will the policy still be valid?","• It depends on the specifics of the changes
• You must notify the insurer, in writing, of the changes you intend to make, and the insurer will notify you whether or not the policy remains valid, and under what conditions"
How is the amount of compensation determined on the IMM policy?,• The determination of the amount of compensation is determined according to the type of insurance:
What are the critical elements of a service business?,"• A service business is usually conducted in an office, practice, salon or laboratory, so the critical elements are:
• The building
• Equipment used (eg medical equipment or computers)
• Key people (the professionals on whom the business relies)"
What are the critical elements of a manufacturing business?,"• A manufacturing business usually takes place in a factory, hall or workshop, so the critical elements are:
• The building
• Means of production (machinery, equipment)
• Stocks of raw materials and finished products"
At what value is a floating stock insured?,"• Since the risk can occur at any time, including when the stock is at its peak value, I recommend that you insure the stock at its maximum value"
How are the covers determined on the IMM policy?,"• The coverages are established based on the risk analysis of the business
• It is important to prioritize major risks, i.e. those that can affect critical elements and destroy the business:"
How do you respond to objections about SME insurance?,• How do you respond to objections with the substrate…
If I have several claims in one year will they all be compensated?,"• Yes
• But after each claim you will have to make up the sum insured, to avoid underinsurance
• Replenishment of the insured amount is done by paying a difference in premium proportional to the amount of the compensation and the rest of the remaining period of the contract"
What does SME mean?,"• Each insurer has its own definition of what small and medium-sized enterprises (SMEs) mean
• In general, trade, service or production companies are included, where the total insured amount does not exceed a certain limit (for example 1, 2, or 3 million Euros)
• Firms in agriculture, wood processing, chemical industry, as well as some types of warehouses are usually excluded"
"If I do the repairs myself, am I compensated?","• Yes, you can be compensated, provided you agree with the insurer in advance on the price of the repairs, and especially on the labor"
How is the content insured amount determined?,• The sums insured for contents are determined according to the type of heritage assets:
How do you present SME insurance?,"• The SME policy ensures the reduction of losses in the event of a risk, by compensating for damage to the building or its contents: stocks, machinery, etc.
• The business interruption clause provides you with the financial support for restarting the business, by covering fixed costs, including additional ones, as well as partially unrealized profit
• The policy also covers any damage caused to third parties, such as bodily injury or material damage, thus protecting the company's reserves and assets"
Am I refunded the VAT I paid if the stock is destroyed?,"• Not
• In case of destruction of the goods, you have the right to recover the VAT you have paid"
The building is made of concrete and iron; what will happen to him?,"• Have you heard about the Grenfell Tower fire in London?
• What about the fire at the Prosper complex in Bucharest?
• What about the fire at the Frigoglass factory in Timiș?
• Concrete and iron buildings turned into ruins due to fires
• Continue with the aftermath of the earthquake?
• No human construction can withstand calamities
• But humans have invented an ingenious solution to get them out of the impasse
• And this solution is called ""insurance""
• And it is intended for wise and prudent people"
What risks can the SME policy cover?,• The SME policy can cover two types of risks:
What role does the SME policy have for the insured's family?,"• The complex IMM policy, which covers property damage, business interruption, and civil liability, simultaneously protects the family's property, savings and income, in the event of an insured risk occurring
• For a family that owns a business, especially if the family lives from the business, the SME policy is an important pillar of support for the well-being and material security of the family"
What is EEI insurance?,"• EEI is an ""all risk"" insurance for electronic equipment"
What type of appliances can be insured through the EEI policy?,"• Any type of static electronic devices, used in fields such as trade, industry, research-development or education, with a maximum age of 5 years can be insured
• Under certain conditions, some insurers also accept the insurance of mobile electronic devices, i.e. which are also used outside the premises (for example measuring devices)"
For a claim covered by the EEI policy do I have to present the invoices for the appliances?,• Yes
What information do I require to offer EEI?,"• The following information and documents are required for bidding:
• Brand, type and serial number of the devices
• Manufacturing year
• The new (catalogue) value of the devices, ideally to obtain the purchase invoices
• Details of the building where the devices are located (similar information to that for SMEs)"
Is the damage covered under the warranty?,"• Not
• Damages covered by a warranty or service contract are not covered by the EEI policy"
What sections does the EEI policy contain?,• The EEI policy contains three sections:
"What is ""all risk"" insurance?","• An ""all risk"" insurance is a policy that covers all risks, except exceptions
• By comparison, a ""named risks"" insurance, such as, for example, the SME policy, covers exclusively the risks named in the policy"
How am I compensated under the EEI policy if the damaged parts are no longer available on the market?,"• If the spare parts are no longer in series production, the compensation will be given in money, based on the actual value of the insured item"
How is EEI insurance better than property insurance?,"• In addition to the risks covered by property insurance - for example fire, explosion, natural calamities or theft, EEI insurance also covers human error, technological problems or malicious intent by third parties"
At what value are electronic devices insured?,"• Devices are insured at new (catalogue) value, including any taxes paid (for example VAT, customs duties, transport costs, excise duties)"
For what risks can electronic devices be insured?,"• Bad intent on the part of third parties
• Technology (eg material defects or surges)
• Examples of risks covered by the EEI policy:
• Fire or explosion
• Damage caused by water coming from installations or from nature
• Natural calamities
• Natural phenomena (eg storm, hail, avalanche)
• Theft
• plus the following specific risks:
• Human acts (eg negligence, mishandling)"
How do I present the EEI insurance?,"• The EEI policy covers virtually any risk that can damage or destroy the equipment on which your business relies
• In addition to the risks usually covered by insurance policies - fire, calamity, theft, etc., the EEI policy covers many other risks such as human errors, technology breakdowns, voltage fluctuations or ill will from third parties"
Are consequential damages covered under the EEI policy?,"• Yes, certain consequential damages are covered
• For example, if a part that has burned causes the failure of a module or the entire equipment, this risk is covered (consequential damage)"
What is the maximum age of the appliances that can be insured under the EEI policy?,"• The maximum age is 5 years, when the first policy is issued
• Some insurers accept policy renewals until the devices are 10 years old, if there has been no damage"
How can I secure the rest of the content?,"• The rest of the contents - for example furniture, stock, electronic equipment older than 10 years - can be covered by a building and contents insurance policy, which can be an SME policy or another type of policy"
What role does the EEI policy have for the insured's family?,"• Because it offers complete protection for electronic equipment, the EEI policy ensures the reduction of losses in the event of a risk
• The EEI policy represents an important pillar of support for a family whose well-being is given by a business based on electronic equipment"
What are the main exclusions?,"• The EEI policy does not insure:
• Normal wear and tear
• Consumables (eg fuses, batteries, filters, belts)
• Various types of tools (eg knives, drills, cutters)
• Electronic tubes
• Gross fault, gross negligence or intentional risks"
How is the amount of compensation determined?,"• If the repair costs do not exceed the new value of the insured property, the repair value will be paid
• If the repair costs exceed the new value of the insured item, the new value of the device, written in the insurance policy, will be paid"
Is the second claim on the EEI policy covered in full?,"• The second damage can be compensated in full, if the insured has paid the premium difference requested by the insurer in order to complete the insured amount"
What is and how is the maximum claim limit (LMD) set on the RCT PJ policy?,"• Unlike property insurance, in the case of civil liability it is not known what will be affected (it can be property or people)
• That is why the maximum extent of the damage is not known
• Therefore, in civil liability insurance, there is the concept of maximum compensation limit (LMD)
• LMD is for the entire duration of the insurance, but there may be sublimits, per event
• That is why the insured must be made aware of the size of the possible damages"
What is civil liability?,"• Civil liability (CR) is an obligation provided for in:
• Legislation
• Codes of professional conduct
• Contracts
• According to civil liability, any person, natural or legal, who causes damage (damage) to another person, natural or legal (third party or customer), is obliged to repair it"
"What does ""third party"" mean?","• In general, from the perspective of RCT insurance, the third party is any person other than the insured, with the exception of his family members, in the case of natural persons, respectively with the exception of employees, collaborators and customers, in the case of legal entities"
Who is the insured on the RCT PF policy?,"• The main insured is the policy holder, to which additional insureds can be added:
• Wife / husband
• Children and other dependents"
When is civil liability engaged?,"• Civil liability is engaged in the situation of the meeting of four elements, simultaneously:
• The illegal act
• Fault of the insured (NOE)
• An injury (damage) caused to a third person
• The causal link between the NOE (fact) and the damage"
What can the damage consist of?,• The damage can be:
What does patrimonial damage mean?,"• The patrimonial damage can consist of:
• Material damage (damage to buildings, property, death or injury to animals)
• Personal injury (including death)"
Who is the insured on the RCT PJ policy?,"• The main insured is the policy holder, to which his dependents can be added, namely:
• Employees with a work permit
• Collaborators with a collaboration contract
• Apprentices
• Other persons undergoing practical training
• Animals or movable things in the company's property or care"
What is and how is the maximum limit of indemnity (LMD) determined on the RCT PF policy?,"• Unlike property insurance, in the case of civil liability it is not known what will be affected (it can be property or people)
• That is why the maximum extent of the damage is not known
• Therefore, in civil liability insurance, there is the concept of maximum compensation limit (LMD)
• LMD is for the duration of the insurance, but there may be sublimitations, per event
• Although, in the case of natural persons, insurers usually offer predefined levels of LMD, it is recommended to choose values ​​as high as possible; you can accidentally kill a man..."
"What is guilt, from the perspective of civil liability?","• Guilt has two forms:
• Fault – is covered by civil liability policies and consists of NOE:
• N = negligence
• O = omission
• E = error
• Intention - NOT covered by liability insurance"
What is liability insurance?,"• Civil liability insurance protects the insured against patrimonial (material) losses that he should bear in case of damage to a third party
• In other words, liability insurance protects you from accidentally becoming a debtor"
"What does ""unlawful act"" mean?","• The illegal act is a violation by the insured of some:
• Laws and ethical codes
• Norms and technical prescriptions
• Rules of conduct imposed by law"
What does non-pecuniary damage mean?,"• Non-pecuniary damage consists of moral damages
• Being difficult to quantify and rate, moral damages are covered only punctually, through additional clauses, and only under certain conditions (e.g. malpractice)"
How do you create the right context for asking for referrals?,"• The favorable context for asking for recommendations is the one in which the interlocutor:
• He is happy to give you recommendations
• He is embarrassed if he refuses to give you recommendations"
How can you ask for referrals when the client has realized how valuable you are?,"• Thank you for your likes
• It's nice to have people speak well of you
• Then continue with one of the scenarios below:"
How can you ask for referrals?,"• Recommendations are a good source of customers, because they present two advantages:
• You have access to people who would otherwise be practically impossible to reach
• It relies on reliable transfer
• If you feel uncomfortable asking for referrals, you probably don't have enough confidence in yourself yet - so here's your work
• Like enough assurance, enough confidence is gained over time, and you have to move in that direction with small, sure and steady steps"
When is the interlocutor happy to recommend you?,"• When you are in a favorable posture
• For example, when talking laudatory about insurance; the interlocutor will be proud to know you and brag about you"
How do you get the name of a professional to help someone?,"• If you get the phone number, call and discuss a professional matter, write down the client's details in the workbook and after a time interval call to discuss insurance"
What is the specificity of the telephone approach?,"• Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary
• The telephone approach is an activity with a high nervous consumption, which generates discomfort
• The fact that you anticipate being turned down, sometimes even in a cheeky way, creates a stress that many brokers are not willing to accept
• But it is not possible without a telephone approach
• Without the telephone approach of some potential customers you will not reach the receipts or the income you dream of
• The telephone approach is included in the price you pay to receive commissions of 10...20...30% on optional insurances"
"How do you resolve the ""I don't trust"" objection?","• A: I don't trust insurance
• I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting)
• A: I don't trust insurance
• You see... after an earthquake there will be two categories of people: some who will receive money for a new home and others who will wonder who and why they didn't trust. Millions of people around the world trust us. Why wouldn't you have? (propose the meeting)
• A: I had insurance and... I wasn't satisfied...
• I understand you. There is no forest without dry areas. It just means that you have to be careful in whose hands you leave your family's financial security. (propose the meeting)
• A: I heard that someone suffered... did not receive... was dissatisfied...
• I understand you. Whoever you heard this from may or may not be right. But in any case he will not pay you tens of thousands of Euros in case of damage. Only an insurer will. (propose the meeting)"
How do you handle objections to the telephone approach?,"• The telephone conversation is a stage prone to objections; why?
• Romanians disregard insurance
• The customer does not know you
• Your call may drop at an inopportune time
• Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks
• ""You don't make spring with a flower"", and you don't make a portfolio with a phone...
• The development of the ability to solve telephone objections is strongly influenced by the volume of approaches; only hundreds of approaches will make you master this activity
• BrainO is a good trainer, but he can't play for you"
How do you deal with objections that never stop...?,"• A: No... No... No...
• Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed?
• A: Leave it, you don't care about me... you care about your commission
• Frankly, I, with or without a policy, am neither richer nor poorer... but your family, without the right policy, can become very, very, very poor... (propose meeting)
• A: I said NO!
• Is OK. I will give up, at least for now. Please tell me, do I have your consent to come back with a phone in 3 months?
• Once a month I send clients interesting information in the field of risk. Would you like to receive them too? If you like them, you can also send them to your friends. If not, you can unsubscribe
• A customer lost today is not necessarily a customer lost forever
• The customer who refused you today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about people suffering... there may be a fire near the home... etc.
• Any information about a risk will be associated in the customer's mind with who you are and what you said on the phone
• What did you say to him on the phone?
• That risks can occur at any time and it would be good to insure
• On your next call he will accept the meeting
• Or he will call you himself, earlier
• An insurance intermediary must be present in the life of every family
• Must have a discreet but constant presence
• Because risks are also present throughout life"
What mistakes to avoid in the telephone approach?,"• In the telephone approach, your main ""weapon"" is your voice; use it as effectively as you can:
• Thus:
• Each of these mistakes is an additional reason for refusal
• If your phone approach doesn't work, the reasons are more than likely to be found in this list
• To be successful, re-read and apply what BrainO teaches you about the telephone approach
• Try to (self) evaluate the way you do the telephone approach
• You can do it in two ways:
• Ask someone - a colleague or family member - to give you feedback
• Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and correct what you did wrong
• And subsequently delete the records because you do not have the written consent of the customer to record it
• If you were bothered by the excessive repetition of the word ""avoid"", this is yet another proof that you need to be very careful about what you put in your mouth
• One more word can mean one less customer"
What is the exception where you can mention a product over the phone?,"• You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance
• Example of presenting the purpose:
• I am from Mr. Popescu, our mutual acquaintance
• Did Mr. Popescu inform you that I will call you?
• All right
• I know you are interested in home insurance, is that true?
• Perfect
• To develop an insurance solution I need some information
• Is it okay if I write you on WhatsApp and you reply like that?"
What are the rules of the telephone approach?,"• Respects the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease
• Build a universal approach scenario; use BrainO's recommendations and prepare a scenario that suits you
• Be prepared for objections; prepare a set of your own responses to each objection
• After answering the objection, propose the meeting; otherwise you give the client the time to come up with another objection
• Speak loudly, clearly, with intonation, use pauses; voice is the only weapon you have in the telephone approach
• Fit in 1-2 minutes; if the client initiates debates, suggest that you continue the discussion at the meeting
• Finds a balance between politeness and insistence; one without the other has no effectiveness
• Requests feed-back; ask a colleague to listen to you and tell you what you are doing well and what you are not doing, in his opinion
• Immediately after the conversation, write the result in the work agenda, preferably in electronic format (BrainO can offer you a powerful tool - Inteligenda); otherwise you will forget the result of the discussion
• The result contains the name, phone number, date and time of the meeting, other specific details"
What are the objectives of the telephone approach?,"• The telephone approach has a main objective and a secondary objective:
• The main objective is to schedule an appointment
• The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding"
"How do you deal with the ""I don't need it"" objection?","• A: I don't need it
• You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting)
• A: I don't need it
• Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will address. (propose the meeting)
• A: I have insurance
• Is OK. I expected you to have insurance. Many of my clients had insurance when we met, but found they were underinsured. In this case our discussion will be shorter and you will only gain from it. (propose the meeting)
• A: I have an agent
• Is OK. If we deduce that you have enough insurance, you will congratulate him. And if not, I will propose solutions that he did not propose. (propose the meeting)
• R: Whatever the Lord gives, with good and bad...
• That's right... God gives us everything, both good and bad, as you say... And then it means that God also sent me to you today (proposes the meeting)"
"How do you deal with the ""Not now"" objection?","• It is actually another form of expressing the objection ""I don't need""
• A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home)
• A: Not now
• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again. (propose the meeting)
• A: Not now
• If fire, death, or earthquake reach you before me... You say what will happen then. (propose the meeting)
• A: I look for you when I need it
• I understand you... Only when you need it you will have to call 112, not me. I can help you today, when you are healthy, have a home, maybe a car... I mean a good life (proposes the meeting)"
"How do you solve the ""I don't have money"" objection?","• Most often it is also a form of expressing the objection ""I don't need""
• A client who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property)
• A: I have no money
• How can I tell you... If today, when you are healthy, earn money, have a home, you say you have no money, then after a tragedy what will it be like? (propose the meeting)
• A: I have no money
• I understand you don't have money to throw away. Which is great, because it means you know the value of the penny. And this is exactly what I propose to talk about, how to protect what you have – house, income, savings. (propose the meeting)
• Don't fall into the trap of saying ""But I don't want to sell you anything""; of course you want to sell!
• Forget expressions like ""I just want to get to know each other"", ""I just want to see what policies you have""; don't start the relationship with lies...
• Don't make the mistake of saying - from the phone - ""Well, I can offer you cheap insurance, the cheapest on the market""...
• In this way you will compromise yourself in the eyes of the client, who will automatically put in your mind the label ""Another who wants to fool me. I don't need him!""...
• ... or, if you come across a customer with a toupee, you risk hearing: ""Ah, yes? Do you have cheap insurance? That's great! Send me one for 100 lei""
• What are you doing then...?"
How to avoid talking too much?,"
• When does the tendency to talk more than necessary occur?
• Usually, when you fail to provoke the client to dialogue, and to avoid the awkward moments where you stare at each other without saying anything, you start touring...
• How can you avoid this situation?
• Learn to sell insurance
• What does it mean to sell insurance, and what does it mean to issue policies?
• Issuing policies essentially means using the issuing programs; this can also be done by an official with the necessary technical knowledge
• You can sit in your office and issue policies, 10 years in a row, without knowing how to sell policies
• What does it mean to sell insurance?
• It means making a customer understand the need to protect himself through insurance and inducing the urge to buy that policy
• BrainO gives you the information you need to sell policies"
How can you set your priorities?,"
• To deduce what is a priority and what can be postponed, filter each action you intend to take with the following question:
• What do I lose if I delay?
• If the answer is ""I don't lose anything concrete"", then postpone and do something that is important and urgent
• If the answer is ""I lose..., that is, I lose something important"", then do that thing, with priority
• For example, if you are in doubt about what to do tomorrow - send messages to customers or renew policies that expire soon - then renew the policies; the best customer is the customer you already have
• But if you originally set out to collect some installments tomorrow, which are not yet due, but you have some prospects you could meet with, meet the prospects; you can collect the installments the day after tomorrow, or online"
I'm not dying! Why should I think about death insurance? To attract death?,"
To discuss death insurance. It doesn't mean it attracts death. It means proving that you care about your loved ones. If you're going to die, you die with and without insurance."
What example could be given to motivate the client to buy life insurance?,"
If only every wife knew what every widow knows. In every family there would be life insurance."
What clauses can be attached to the death policy?,"
Clauses can be attached to the death policy. Clauses can be attached to the death insurance that increase the death protection and clauses that provide money for treatment in case of accident or illness. Some of the clauses may also cover other family members. Depending on the insurer."
"How do you respond to the objection ""I'm looking for you for accident insurance""?","
• I mean... are you calling me from the hospital?
• Or from the operating room?
• Or will your wife call me...?
• I can be of use to you then then only if we sign now
• Why now?
• Because we don't know what ""then"" means"
If the cost of treatment exceeds the sum insured in the travel policy. What will be the consequences?,"
The insurance company will take the necessary steps to negotiate the costs with the medical service provider so that they fall within the sum insured. If this is not possible, then the difference will be paid by the insured."
What happens to the child's policy if they die?,"
• In this case, the ""third parent"" - i.e. the insurer - continues saving, instead of you, and the child receives the same amount at the maturity of the policy
• This is a unique advantage; no other savings instrument, which involves periodic, staggered payments, continues after the person's death"
What policies protect what the family has?,"
• ... So the house, the car, the savings, the business?
- Specifically:
- Comprehensive home insurance
- Helmet insurance
• Business insurance
• And generally, any type of insurance protects family savings
• In the absence of insurance, the consequences of producing a risk are eliminated by calling on one's own savings"
Who and how determines the value of the fund unit?,"
• The daily value of the fund unit is set by the investment manager of the insurance company (can be internal or external)
• The value of a fund unit is obtained by dividing the value of the managed fund by the total number of fund units, related to the entire client portfolio
• The daily value of a fund unit is posted on the investment manager's website and the insurer's website"
Is the casco policy valid without ITP?,"
• Not"
Who can you sell other policies to?,"
• Customers who still do not have ""enough"" insurance
• Clients who want to raise money in the long term"
How is the death benefit calculated on a unit linked policy?,"
• The insured amount in case of death is 5,000 lei
• On the date of death, the value of the account is 38,467.82 lei
• Beneficiaries upon death will receive a total allowance in the amount of:
- In the ""amount"" option: 5,000 + 38,467.82 = 43,467.82 lei
- In the ""maximum"" version: 38,467.82 lei"
How is the insured amount for working capital determined?,"
• The insured sum for working capital represents:
- The cost of production, in the case of goods of own production
- The purchase cost, including taxes, in the case of goods purchased"
What are the steps to obtain a database from a specialized site (example: termene.ro)?,"
- You choose the localities
- Select the companies in operation
- Select the companies that have contact details (phone / website)
- Segment the database (CAEN)
- Download the database
- You copy the information into your database (for example a CRM or Inteligenda)
- Segment the database (CAEN), as follows:
• You choose the field of activity you want to tackle
• Find out the corresponding CAEN code from Google
• Filter the database by CAEN code
- Download the database"
What is the territorial validity of the travel policy?,"
The travel policy can be valid worldwide, except for Romania, the country of citizenship, the country of residence of the insured person. There are variants of restricted geographical coverages. For example, only certain countries, only Europe, including countries around the Mediterranean Sea, the whole world without the US, Canada and Israel, the whole world without the US and Canada."
What sales actions should you take at the beginning of your career?,"
- Complete and use the database with prospects and customers
- Calling prospects
- Have customer awareness talks
- Develop insurance solutions
- Communicate insurance solutions
- Explain insurance solutions
- Resolve objections
- You complete the sale"
What information do you require for the death insurance quote?,"
The minimum information for bidding is as follows. What is your salary? Or the variant. What is your income range? How old are you? How long does your family need protection Do you have a loan? If so, what is its value and for what period?"
"How do you respond to the objection ""I don't need a savings plan for the child""?","
• Do you usually put money aside for your child?
• This special product ensures that your son / daughter will receive a certain amount, upon reaching the age of 18, or at the latest at the age of 25, as you decide
• There is no other financial product that offers this double benefit: whatever happens to you, good or bad, the child receives the same amount of money at maturity
• If the worst has happened to you, disability or death, the ""third parent"" - the insurer - comes into play and saves for you
• What do you think, will your son / daughter need money at the threshold of adulthood?"
How do you create the right context for asking for referrals?,"
• The favorable context for asking for recommendations is the one in which the interlocutor:"
What clauses can be attached to the unit linked policy?,"
• Clauses can be attached to the unit linked policy to increase death protection and clauses to provide you with money for treatment in the event of an accident or illness
• Some of the clauses may also cover other family members (depends on the insurer)"
What are the advantages of submitting insurance solutions online?,"
- The main advantage of online communication is the saving of time; sending a message takes a maximum of 1-2 minutes
- The second advantage is the possibility of rereading the message
- Last but not least, reducing the number of omissions and errors, by using communication templates"
"How do you respond to the objection ""I'm looking for you to buy business insurance""?","
• So you call me the day before the explosion...?
• Or earthquake...?
• Then you will call 112
• You have a reputation as a manager who makes good decisions
• Do you agree that securing your business and profits is the best decision you can make today?
• A ruin brings no profit..."
Can the insured sums be changed in the additional clauses?,"
• In some clauses, the insured amounts can be changed
• This can usually be done on the policy anniversary, on application, and obviously with the insurer's agreement
• If an increase in the insured sums is requested, the insurer will request the completion of a medical questionnaire
• If he notices a deterioration in his health, the insurer will most likely refuse to increase the sums insured"
Is the damage covered under the warranty?,"
• Not
• Damages covered by a warranty or service contract are not covered by the EEI policy"
How is the child savings plan inflation protected?,"
• An example of a mechanism:
• The insured amount increases annually with the inflation index
• The insurance premium increases with a percentage communicated by the insurer"
Is casco insurance valid without winter tires?,"
• Yes, but insurers apply a penalty
• When should winter tires be put on?
• The recommendation is to install them from October or at the latest when the weather turns bad (mule, snow, poles)"
Where does the money come from to pay?,"
Basically, the customers of an insurer offer mutual help to each other in case one of them dies. But this aid is not sealed verbally, but through a contract administered by the insurer."
At what value is a floating stock insured?,"
• Since the risk can occur at any time, including when the stock is at its peak value, I recommend that you insure the stock at its maximum value"
"How do you find out the real objection by ""ask and find out""?","
• Ask
• You ask the client to say what is on his mind
• Here are some examples of clarification questions:
- Is it just me or is something bothering you?
- I feel that you have a dissatisfaction; this is true?
- I would like to move on, but I can tell that you have something on your mind... what is it about?
- Your look tells me that something is wrong; I'm here to help you, so... I'm listening
- My flair says that something is bothering you and I can only help you if you are honest and tell me what is bothering you"
How do I choose a casco insurer?,"
• My recommendation is to orient yourself by the number of petitions and by the weight of well-founded petitions
• You can access the ASF website for this purpose"
How is the insured sum determined at casco?,"
• It is determined as the market value of the vehicle at the time of its insurance
• The insured amount depends on the degree of wear and tear applied to the new value of the vehicle
• Each insurer sets its own attrition grid, for each year, and falls within certain limits"
How is the amount insured on the building determined?,"
• It is recommended that the amount insured on the building represents the new (reconstruction) value, which means the cost of building a building with similar constructive and functional characteristics"
Why do people on whom the fate of a family depends need death insurance?,"
• With the death of the person, the income that he brought to the family also disappears
• Life insurance replaces the income of the prematurely deceased person
• If the dependent client asks:
• If I die, what else do I need insurance for?
• reply:
• If you die, will your descendants still need money to live on?
• Life insurance does not ensure that you do not die
• But life insurance ensures that your plans don't die with you
• With the death of the person, the income that he brought to the family also disappears
• Life insurance replaces the income of the prematurely deceased person
• If the dependent client asks:
• If I die, what else do I need insurance for?
• reply:
• If you die, will your descendants still need money to live on?
• Life insurance does not ensure that you do not die
• But life insurance ensures that your plans don't die with you"
How do you get the guaranteed amounts at the end of each year?,"
• In terms of guaranteed (traditional) life insurance, of which the child savings plan insurance is also a part, capitalization means the following: every year the amount existing at the end of the previous year (called mathematical reserve) is invested, together with the premium of investments from the year starting
• The insurer guarantees that the minimum investment return will be equal to the guaranteed technical interest
• In this way, the minimum amounts are guaranteed at the end of each year of the contract; these values ​​are called mathematical reserves
• Since the minimum amount at the maturity of the contract is guaranteed, it follows that the intermediate values ​​(mathematical reserves) over the entire duration of the policy are also guaranteed
• The notion of mathematical reserve can be difficult for the client to understand; if you end up discussing these details with him, instead of a mathematical reserve, you can use the phrase ""guaranteed accumulated sums""
• It is important to note – and to communicate to the client – ​​that these accumulated guaranteed amounts are guaranteed to the client both by the insurer, by contract, and by the ASF, through the FGA
• The bottom line is this: traditional life insurance (that is, with a guaranteed technical benefit) is among the safest long-term investments
• Westerners have known this for hundreds of years - the first life insurances appeared in the 19th century; Romanians are only now (re)learning...
• That's why in the insurance market in developed countries, life insurance holds the largest share, as in gross annualized premiums (PBA)
• Remember: the guaranteed technical interest is guaranteed for the entire duration of the policy
• This means that no matter what happens in the economy, no matter how interest rates fluctuate, the insured, respectively the beneficiary - i.e. the child, benefits from the same minimum interest for the entire duration of the policy
• If the question ""so what?"" crosses your mind, it would not hurt to consider the following realities:
• In the years 1995-2000, when the sale of life insurance took off in Romania, the guaranteed technical interest had the value of 5.5%
• A customer who bought a traditional life insurance in 2000, with a duration of 30 years, benefits from the same minimum interest until 2030 (!)
• When you talk to your client about saving for the long term, when you get to present the benefits of traditional life insurance, focus on safety, not profit
• The safety argument will not be able to contradict it, while the profit argument, yes...
• There are other investment instruments that can generate a higher return than traditional life insurance; remember the nuance: ""can"""
What is death insurance?,"
It is a risk product that covers death from any cause. There are also other types of death insurance, for example unlimited term insurance or insurance with return of premiums, but they are little known in Romania.
Death insurance is actually a large sum of money created instantly for the protection of your loved ones. To gather the same amount of cure would take decades, and death could occur tomorrow."
What clauses for the insured (eg the parent) can be attached to the child's policy?,"
- Death insurance from any cause
- Accidental death insurance
- Permanent disability insurance
- Insurance of exemption from the payment of premiums in case of invalidity
• The types of clauses differ by insurer"
What happens to the child savings plan if premiums are waived?,"
• The policy remains valid but for a lower sum assured, called reduced sum assured
• In this case, the child will still have a savings plan, but ""smaller"", without the insured paying anything more
• A great advantage, isn't it?
• The guaranteed accumulated sum (or mathematical reserve) will continue to be invested, and the insurer will continue to guarantee the same technical interest"
How is the sum insured determined?,"
• The insured amount is determined based on the business plan
• There are two possible scenarios, from the perspective of the insured:
• Turnover is expected to stagnate
• The increase in turnover is estimated, with the percentage of... %"
What sections does the EEI policy contain?,"
• The EEI policy contains three sections:"
"How do you respond to the objection ""I'm not buying life insurance now""?","
• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again
• I could tell you a few cases, of widows who came, devastated, to open a claim... but they are too gloomy to ruin your day with them
• But I can tell you only one thing: gerbils dry up, candles go out, relatives and friends leave
• The only help, concrete, substantial and non-refundable, comes from life insurance"
What should be your goals during your internship?,"
- Get as many new customer (prospect) names as possible
- Make appointments with as many clients as possible
- Make as many offers as possible
- To sell as many policies as possible
• If the expression ""as many"" seems strange to you, know that it was used not because BrainO does not know how to formulate an objective, but because, in the case of intermediaries who sell composite insurance, it is practically impossible to made a standardization
• One thing you should understand from the beginning: your working day must be full
• This does not mean not eating, not resting, or not solving your personal problems
• This means not falling into the trap of having dead times and periods of unnecessary lamentation"
What is turnover?,"
• Turnover represents the amount of money that can be paid to the insured for the goods sold, delivered or for the services provided in direct connection with the business"
How can you use databases?,"
• There are sites where you can get complex databases, with commercial companies in your area
• There are free databases and fee-based databases
• In addition to the fact that you instantly get all the information you need about commercial companies, using databases also has an important advantage: there are no restrictions imposed by the GDPR!"
Why do people buy insurance?,"
• Why do people buy insurance?
• What does financial security mean?
• What risks can affect a family's financial security?
• What does it mean for a family to have enough insurance?"
"What does ""benefit"" mean in insurance?","
• When you buy a product or service that you want, the benefit is joy...pleasure...well-being...delight...delight...comfort...luxury... the pride...
• But when you buy insurance, what is the benefit?
• You keep the insurance policy in a drawer or in a folder on your laptop...
• You don't enjoy it, you don't admire it, you don't use it, nobody sees it, you can't brag about it...
• And this can take years on end…
• So why do you buy it?
• An insurance takes a burden off your shoulders
• When you bought an insurance policy you breathe a sigh of relief
• The benefit of insurance is the feeling of security
• You have not added something to your life, but you know that you will not lose something from your life"
What does superior expected return mean?,"
• A policy with a higher expected return refers to the fact that the customer expects, for the same money paid and over the same period of time, to receive a larger amount of money at the maturity of the policy than if he had bought a traditional policy, so guaranteed
• If you are an honest man, do not present simulation predictions as guarantees, but as what they are: predictions
• The reality can be more beautiful or uglier than the predictions (see the crisis of 2008-2010...)
• Attention: this is the expected return, and not guaranteed!
• Replace ""you will receive"" with ""you may receive"""
Are dental problems covered by travel insurance?,"
Only emergency expenses are covered, usually for a maximum of two teeth and within the limit of the sum insured specified in the policy under this clause."
When is death insurance payment excluded?,"
Just so that the insurer has money to pay the benefits. Situations where the risk of death becomes foreseeable, for example wars or pandemics are excluded."
What information do you require to offer unit linked?,"
• The minimum information for bidding is as follows:
• What is your salary?
• Or the alternative: in which range are your incomes?
• How old are you?
• What amount would the family need in case of death?
• How much do you want to invest, annually?
• Or the alternative: what amount are you willing to risk, annually, placing the money in an investment?
• Pay attention to the following aspect:
• Your interest – a high regular premium, which generates a high commission, and the client's interest – a low regular premium and additional payments – can collide
• What do you choose?
• Explain to the client that the triple ""term of over 20 years - minimum staggered premium - additional payments"" can optimize the return on investment"
"If I make changes to the building, will the policy still be valid?","
• It depends on the specifics of the changes
• You must notify the insurer, in writing, of the changes you intend to make, and the insurer will notify you whether or not the policy remains valid, and under what conditions"
"How do you respond to the objection ""I don't have money to buy business insurance""?","
• I think you mean that you are a thoughtful manager and don't waste the company's money
• This is exactly what I propose: make a small, predictable expense to prevent a huge, unpredictable expense that can put the business on the rocks
• Paying the insurance will not impact the business in any way
• But the lack of insurance can have the effect of ruining the business"
Why do key people in a business need life insurance?,"
• In the case of the premature death of the key person of the business (it can be a manager, a valuable engineer, an IT-st, an architect, a doctor, an exceptional professional in general), it is possible that both the turnover and the profit business to decline
• Sum insured can be equal to the profit generated by the key man
• The beneficiaries of the insurance are the shareholders, in the case of SA, respectively the associations, in the case of SRL
• In the case of the premature death of the key person of the business (it can be a manager, a valuable engineer, an IT-st, an architect, a doctor, an exceptional professional in general), it is possible that both the turnover and the profit business to decline
• Sum insured can be equal to the profit generated by the key man
• The beneficiaries of the insurance are the shareholders, in the case of SA, respectively the associations, in the case of SRL"
When is the interlocutor happy to recommend you?,"
• When you are in a favorable position
• For example, when talking laudatory about insurance; the interlocutor will be proud to know you and brag about you"
How do you know if the story has reached its goal?,"
• If the client becomes interested and enters into a discussion on the topic you proposed, it means you have achieved your goal"
What are the advantages of verbal presentation of insurance solutions?,"
- Visual contact, so the possibility of influencing the client through non-verbal language (mimicry and gestures) and para-verbal language (voice)
- Ability to respond on the spot to the client's questions and objections
- The possibility to ""read"" the client"
What are BrainO's recommendations for you?,"
• Learn to work with an agenda; first thing in the morning, when you drink your coffee, consult your diary
• Learn all you can about insurance; use only serious sources of information for this purpose
• Do every day a little of the things you dislike, but which are important; it could be calling customers or asking for referrals, or maybe something else…
• Tell everyone, whenever you have the opportunity, that you deal with insurance; not just cheap RCA, but insurance
• When talking to a client to whom you want to sell insurance, always ask yourself: ""What does he want to hear from me to buy insurance?""
• People don't buy insurance, people buy people; customers will buy from you if, first and foremost, they like you
• Dare to ask uncomfortable questions; insurance itself is not a nice thing, but a necessity
• Aim to become, little by little, the only insurance intermediary for each client; if you are good and offer good products, what reason would there be another middleman...?
• Serve your customers impeccably; most will appreciate this
• Build a network of technicians (underwriters, product managers, claims inspectors, etc.), at each insurer, to serve you well and quickly; you will have an advantage over other intermediaries
• Learn to use technology; you will gain time and customers"
What happens in case of total loss?,"
• The insured receives the maximum insured sum from which the value of the wreckage is deducted
• Depending on the type of damage (accidental damage, total theft, natural events), each insurer specifies the exact compensation conditions in the policy (for example, whether or not certain deductibles apply, etc.)"
What do you need to learn at the beginning of your career?,"
• With BrainO by your side, you can learn what you need anytime, anywhere"
Why should I buy life insurance?,"
Buying life insurance is one of the best decisions you can make for your family's safety. What could cause you to put your family at risk?"
"What are the stages of the ""three-legged table"" method?","
• Each of the stages has an important role
• Whichever step you skip, it will be harder for you to reach your goal"
How do you plan your activity if you can only work in the evening?,"
• If you can deal with insurance only in the evening, then it means that:
- You can call prospects only in the evening
- You can only have meetings in the evening
- You can do all the rest of the sales actions (bidding, issuing) only in the evening
- You can only study in the evening
• Meeting with the client must always be a priority; even if you have something else planned for tonight, if a client has accepted you in the meantime, you will go to the meeting and countermand the other activities
• You must prepare a specific telephone approach; it can be like this:
• ""I could visit you tomorrow afternoon, after 6pm to be precise... Is that okay? Where can I find you at that time, are you still at work or can we meet at your home? What time is convenient for you? Please book 20...30 minutes for discussion. Can you give me the address please?""
• You will also benefit from specializing in online communication; online you can communicate anytime and from anywhere
• BrainO provides you with online communication templates for all stages of the sales process"
What happens to the unit linked policy if premiums are waived?,"
• Risk premiums and policy administration costs will continue to be deducted from the account value
• The number of fund units will decrease over time
• And during the period in which the payment of premiums was waived, the client can make additional payments
• It is an advantage worth considering
• With a traditional insurance, in the case of waiving the payment of premiums, the insured sums decrease
• With unit linked, in the case of waiving the payment of premiums, the sum assured on death remains the same"
What does it mean for a family to have enough insurance?,"
• And when you consider that most customers think that an RCA is enough for them...!
• Do you realize how many policies you can sell your customers because they urgently need them, even though they don't realize it yet?
• You will be able to try to sell other insurance policies only in families where there is not enough insurance yet
• Are there many families in these?
• This is probably 99% of families!"
"How do you deal with the ""Not now"" objection?","
• It is actually another form of expressing the objection ""I don't need""
• A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home)
- A: Not now
• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again. (propose the meeting)
- A: Not now
• If fire, death, or earthquake reach you before me... You say what will happen then. (propose the meeting)
• A: I look for you when I need it
• I understand you... Only when you need it you will have to call 112, not me. I can help you today, when you are healthy, have a home, maybe a car... I mean a good life (proposes the meeting)
• It is actually another form of expressing the objection ""I don't need""
• A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home)
- A: Not now
• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again. (propose the meeting)
- A: Not now
• If fire, death, or earthquake reach you before me... You say what will happen then. (propose the meeting)
• A: I look for you when I need it
• I understand you... Only when you need it you will have to call 112, not me. I can help you today, when you are healthy, have a home, maybe a car... I mean a good life (proposes the meeting)
• This objection actually sounds something like this: ""I'm sure there won't be an earthquake tomorrow, I'm sure there won't be a fire, I'm sure I won't make any mistakes, etc.""
• Earthquake, fire or mistake will only be possible the day after tomorrow... ... ...
• Absurd, isn't it?
• The risk is unpredictable; it can happen today, tomorrow, in 11 years or maybe never
• But if it occurs, the consequences can be serious; very serious
• A client who makes this statement needs to be ""shaken"" a little, in the sense of reminding him that the risk is a certainty; it cannot be undone, no matter how foresight you are"
"How to tell a story to ""catch"" the client?","
• Be natural
• Surprise with the turn of phrase
• Presents a parable of the story
• Ask the customer's opinion, at least at the end of the story
• Match the tone to the message"
What happens to the death policy if premiums are waived?,"
In the case of waiving the payment of premiums. The policy remains valid only during the grace period, which is usually 30 days. If the death occurs after the grace period, the insurer has the right to refuse payment of compensation. Some insurers grant a grace period after the grace period in which the policy can be reinstated by paying the outstanding premium and completing the insurance questionnaire."
How do you present the benefits of mixed life insurance?,"
• At the maturity of the policy you receive the sum assured plus an additional profit
• Throughout the duration of the contract, the family is protected, in the sense that they will receive the sum insured in case of premature death
• Basically, whatever happens to you – good or bad – the same amount of money enters the family
• Or, to put it another way, whatever happens, the money paid is not lost
• And the family will use them exactly when they need them the most"
How can you deal with stingy customers?,"
• I understand that you have no money
• I mean... money to throw away
• Since you paid money on the car policy (example), you realize that the risk exists, don't you?
• This is the most important
• If you don't have a few hundred lei for the insurance you lack, where will the family get a few tens of thousands of Euros to replace what may disappear?
• For example housing
• Or your income
• Or the business"
How much money do I get if I cancel the unit linked policy?,"
• Termination of the policy actually means selling the fund units and collecting the resulting amount
• The insurer will sell the fund units in your account at the price on the day of registration of the request and pay you the account value
• A penalty may apply"
How do I know the insurer will pay?,"
You enter into a contract with the insurer, which must be respected by both parties."
Why don't I get anything back if I cancel the policy or if I survive at expiry? That he just didn't die?,"
Home insurance. You get something back when the policy expires, but at CASCO? Death insurance is the same. Life insurance is risk insurance without savings. This is also the reason why this policy is cheap. With a small premium you can buy a large sum assured."
Are there age limits for death insurance?,"
Death insurance age limits. Age limits differ between insurers. The usual ones are the minimum age of the insured when the policy is issued 18 years. The maximum age of the insured when the policy is issued is 60 years. The maximum age of the insured at the maturity of the policy 75 years."
Why is it good to present your work strategy?,"
• Customers are not used to being asked questions, especially uncomfortable or thought-provoking questions
• They are used to being presented with products: ""We have..."", ""It's the best..."", ""It's the cheapest..."" etc.
• But making a client aware of the risks is done by asking questions that may create temporary discomfort; nobody enjoys discussing troubles
• But ignoring risks does not mean eliminating them
• That is why it will be easier for you if you familiarize the client with the fact that you will ask him questions"
"How do you answer ""I don't have money to buy home insurance""?","
• I ask you a simple question: if you don't have 100 Euros, where will you get 100,000 Euros?
• And 100 Euros per year means 1.5 lei per day
• Do you risk the fate of your family for 1.5 lei per day?
• For 100 Euros, you ensure that the insurer, from the millions of Euros it has, sets aside 100,000 Euros for you
• And he can do it right now"
How do you get the information to quote on death insurance?,"
• I have thought of a solution, depending on the income you have and other similar policies I have made
• Tell me, the amount of... lei, is it enough, or do you want to leave more to the wife, in case...? (choose at least 36 salaries)"
What does full casco insurance mean?,"
• There is no full casco in Romania because, just like any other insurance, casco also contains insured risks, mentioned in the policy, completed with the related exclusions, also specified in the policy"
How can you approach old customers when you are face to face with them?,"
• The customer is in front of you
• You have collected the installment, or renewed the policy, probably exchanged pleasantries, as you usually do…
• Now you want to propose a new insurance
• And you know from experience that your proposal might be met with reluctance, if not hostility
• Therefore, you must prepare your ground…
• How can you do this?
• Through an opening of the discussion that captures the customer's attention
• Depending on how you know him and how you feel him, then, on the spot, your client...,"
What do you think you don't do well (what doesn't work for you)?,"
• You may be dealing with several of the four typical problems, but find it difficult to solve them all at once
• Choose one of the issues you want to focus on next:"
How do you capture interest in home insurance?,"
• An accident can occur in the home... a short circuit... a spark... a gas leak, at your place or at your neighbor's... it's possible, isn't it?
• A fire may occur...or an explosion...or an earthquake
• And in a few minutes it is gone... where in the morning your dwelling was, in the evening you may find a smoking ruin
• There is a solution to this problem and it is called home insurance"
What are additional clauses?,"
• Additional clauses are sickness and accident insurance, which can be attached to the basic insurance
• Some of the clauses may also cover other family members (depends on the insurer)"
What mistakes to avoid in the telephone approach?,"
• In the telephone approach, your main ""weapon"" is your voice; use it as effectively as you can:
• Avoid:
- Flat voice
- The stammer
- Long sentences
- Diminutives
- Sweets
- Flattery
- Arrogance
- Presentation of products - with one exception
- Exaggerations
- Apologies
• Each of these mistakes is an additional reason for refusal
• If your phone approach doesn't work, the reasons are more than likely to be found in this list
• To be successful, re-read and apply what BrainO teaches you about the telephone approach
• Try to (self) evaluate the way you do the telephone approach
• You can do it in two ways:
- Ask someone - a colleague or a family member - to give you feedback
- Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and correct what you did wrong
• And subsequently delete the records because you do not have the written consent of the customer to record it
• In the telephone approach, your main ""weapon"" is your voice; use it as effectively as you can:
• Avoid:
- Flat voice
- The stammer
- Long sentences
- Diminutives
- Sweets
- Flattery
- Arrogance
- Presentation of products - with one exception
- Exaggerations
- Apologies
• Each of these mistakes is an additional reason for refusal
• If your phone approach doesn't work, the reasons are more than likely to be found in this list
• To be successful, re-read and apply what BrainO teaches you about the telephone approach
• Try to (self) evaluate the way you do the telephone approach
• You can do it in two ways:
- Ask someone - a colleague or a family member - to give you feedback
- Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and correct what you did wrong
• And subsequently delete the records because you do not have the written consent of the customer to record it"
What policies protect the family from accidental payment obligations?,"
• All liability insurance protects the family from accidental payment obligations
• If you flooded the neighbor below, and you don't have liability insurance, take a few hundred Euros out of the bank and paint his apartment
• But if you have fatally injured some pedestrians, and you are obliged to pay hundreds of thousands of Euros, how will your family's life continue, if you do not have RCA...?
• RCA, professional civil liabilities and others, are not mandatory because ""that's what the state wants""
• These policies are mandatory to protect both the person responsible for causing the damage and the person who suffered the damage
• How?
• The one who suffered the damage is quickly compensated by the insurer, without having to endure the ordeal of lawsuits that last for years
• The person who caused the damage preserves his savings, income, properties, and implicitly the good life of his family, because the damage is paid quickly, by the insurer, and he is not obliged to go through the courts for years..."
What is secured by the business interruption clause?,"
• The business interruption clause ensures the gross profit
• There is the possibility of exclusively ensuring fixed, constant or increased costs, and the clause is called ""increased work costs"""
How can you use the time you have effectively?,"
• An intermediary does two types of activities:
- Productive activities, those that increase production
- Administrative activities, those that preserve its production
• The limited time allocated to insurance requires minimizing the time allocated to administrative activities, in order to maximize the time allocated to productive activities"
How can you make old customers aware?,"
• Customer awareness by presenting the benefits
(if it's easier for you to talk about products)
• Customer awareness through ""360° risk analysis""
(if you master the questioning technique)
• How long do you keep trying to sell more and more policies to your client?
• Theoretically, until he gets to have ""enough"" insurance
• At least this is what you should aim for and try to achieve
• Practically, until you feel that you risk becoming unsympathetic to them; then you stop
• Knowing when to take two steps forward, when to take a step back and when to stop is part of the art of the insurance broker
• If you master the questioning technique, you can use the ""360° risk analysis""
• If not, you can try to ""hook"" him, i.e. get him interested, by presenting the benefits of the insurances he lacks"
What is an additional payment?,"
• The additional payment consists in buying some fund units at a given time
• It is recommended that this operation be performed when the fund unit is cheap (has a small value)
• Making an additional payment is an advantage specific to investment products
• Additional payment, in the client's language:
• If you want to buy Euros, when is it good to do it, when is the price low or high?
• It is the same with additional payments
• The best thing the customer can do when the unit is cheap is to make an additional payment
• And the worst thing is to panic and withdraw your money"
What is the specificity of the telephone approach?,"
• Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary
• The telephone approach is an activity with a high nervous consumption, which generates discomfort
• The fact that you anticipate being turned down, sometimes even in a cheeky way, creates a stress that many brokers are not willing to accept
• But it is not possible without a telephone approach
• Without the telephone approach of some potential customers you will not reach the receipts or the income you dream of
• The telephone approach is included in the price you pay to receive commissions of 10...20...30% on optional insurances
• Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary
• The telephone approach is an activity with a high nervous consumption, which generates discomfort
• The fact that you anticipate being turned down, sometimes even in a cheeky way, creates a stress that many brokers are not willing to accept
• But it is not possible without a telephone approach
• Without the telephone approach of some potential customers you will not reach the receipts or the income you dream of
• The telephone approach is included in the price you pay to receive commissions of 10...20...30% on optional insurances"
What total amount does the beneficiary (child) receive when the policy matures?,"
• The guaranteed technical interest is a minimum value that the insurers obtain, throughout the duration of the contract
• In reality, insurers usually get higher investment returns (improperly called ""interests"").
• Correct is the investment result and not the interest because the interest is specific to bank deposits, or insurers mainly invest in bonds, where the gain is called ""coupon""
• If the investment result exceeds the guaranteed technical interest, an investment surplus appears
• The investment surplus is divided between the insurer and the beneficiary (the child), based on the profit sharing scheme:
- The greater part belongs to the insured (85-90%)
- The smallest part goes to the insurer (15-10%)
• When the policy matures, the beneficiary (child) receives the guaranteed sum insured plus participation in the winnings
• That is, he gets at least the sum assured, never less
• For short-term contracts, so when the child is over 7 years old, the additional earnings can compensate for the fact that the guaranteed amount at maturity is lower than the amount of the premiums
• The additional profit is paid in any situation of termination of the contract: death, survival or termination"
What are the objectives of the telephone approach?,"
• The telephone approach has a main objective and a secondary objective:
- The main objective is to schedule an appointment
- The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding
• The telephone approach has a main objective and a secondary objective:
- The main objective is to schedule an appointment
- The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding"
How can you streamline administrative activities?,"
• What are the main administrative activities?"
How do you present the exemption from paying premiums in case of disability?,"
- From what source will you pay the premiums?
- Do you work for a salary, or do you receive it as a gift?
- In order to work, the first condition is to be able to work, okay?
- If there were an accident that would make you unable to work, your salary and insurance would disappear, wouldn't it?
- If the insurance continued, unchanged, being paid by the insurer, what would you say?"
"Which casco policy should I choose, with or without excess?","
• Depends
• Both options have advantages and disadvantages
• Usually, customers who have deductible policies are more careful
• But, even if you take out a policy with a deductible, but if the accident is the fault of another driver, identified, then the deductible does not apply
• The choice is yours"
"How do you answer the ""I don't need life insurance"" objection?","
• You know the saying ""Trouble never comes alone""
• What about the ambulance service you might need?
• Or SMURD...?
• Why?
• Because… it can happen, right?
• You probably have some money in the bank, which today is there, tomorrow you take it out, enjoy it...
• ... and the accident always comes when we least expect it
• And we never know what he leaves behind"
How not to fall into the trap of prematurely discussing price?,"
• Price?
• Whose price?
• For which of the 200 types of policies will you tell the price...?
• As if you were at a doctor and you ask him how you entered the office door and how much the treatment costs, without him having any idea what disease you have...
• Customers are tempted to ask about the price of the policy at the early stage of the discussion
• Discussing price prematurely is a surefire way to miss the sale
• Concretely, how do you proceed if the customer asks you prematurely about the price?
• Here is a variation:
• It's good that you're interested in price, we'll get there, but until then you're definitely interested in how insurance can benefit you
• Tell me,... (resuming awareness talk)"
What is the advantage of approaching strangers?,"
• Due to the surprise effect, the people approached become curious:
• ""Who will be the one approaching me?""
• ""If he has this audacity, it will be something on his head""
• If he will buy from you, a person approached directly will do so only because you convinced him, through your salesmanship
• Relationships built from scratch are often more likely to last over time
• The stranger you approached and convinced does not feel obligated to you in any way
• If they insure themselves with you, they do it because you are a good agent"
What happens if I stop paying the premium?,"
• The policy remains valid during the grace period, which is usually 15 days
• Subsequently, the policy can be suspended, for a certain period of time, according to the provisions of the insurance conditions (the duration depends on the insurer) or it can be terminated, starting from the date immediately following the due date"
How can you ask for referrals when the client has realized how valuable you are?,"
• Thank you for your likes
• It's nice to have people speak well of you
• Then continue with one of the scenarios below:"
How can you streamline the transmission of policies?,"
• Renewed policies can be sent online, on WhatsApp or by email, accompanied by a brief description and the presentation of the information required for online payment
• Using online communication templates, the process of submitting the policy takes 2...3 minutes, compared to 30...60 minutes for the round trip and handing over the policy in person
• BrainO offers you templates for online communication that contain the brief and to-the-point presentation of common policies, both for family and business
• There are situations in which traveling to the client is justified, because it represents an opportunity to sell him enough insurance
• This is the case for wealthy customers who can afford to purchase all the insurance they need, as well as business people
• Especially in the case of businesses, selling enough insurance can be done both by updating policies (up-sell) and by diversifying policies (cross-sell)
• For example, an SME type business can develop, which can involve both increasing the insured sums and adding new clauses on the policy that is being renewed (up-sell), but also covering new risks, through other types of policies (cross-sell)
• You decide, in the end, if you want to meet the client and talk with him, or are you content with sending the policy
• So that the client does not perceive online communication as negligence, or even disinterest, ask him from the beginning of the relationship with your way of working and ask for his consent
• Concretely, during the first meeting with the client, you can say something like this...
• For you, insurance means safety
• For me it is a business, and I do everything I can to make it efficient
• In this sense, I usually agree with clients that the transmission of due dates, renewal notices, offers and including policies, should be done mainly online
• This in no way diminishes the care I have for each individual client, on the contrary, we both have a record of communication, as all messages remain on the phone or laptop
• And it gives me time to develop my business by expanding the number of clients
• Is it okay if we also work together in this way?
• By posing the issue this way, the customer has no reason to disagree"
How do I proceed in case of damage to the travel insurance?,"
There are three situations. It's best to notify the support company immediately so they can tell you what to do. In case of minor problems, you can pay yourself and later get your money back from the insurer. Careful! Insurers have a cost limit beyond which they no longer compensate. If the support firm is not notified in advance. If you find yourself unable to notify the support company immediately after the event. For example, in the case of a serious accident, the event will need to be reported by a third party who has knowledge of the event."
How can you sell the client one of the insurances he is missing?,"
• It is a matter of presenting the client with the benefits of one of the insurances he lacks
• You can use this method when you feel more comfortable discussing products instead of asking questions"
How is child policy inflation protected?,"
• The insurer annually increases the insured amount by the percentage of inflation
• In exchange for increasing the insured amount, the insurer requests an increased premium, correlated with the increase in the insured amount"
Do I have to declare it if I have pre-existing diseases?,"
not. But you should know that events that may arise from your illness are covered with a limited amount, which depends on the insurer."
How can you make productive activities more efficient?,"
• The productive activities are the following:
- Increasing the number of customers
- Development of the policy portfolio
- Indirectly, training is also a productive activity, because if you are better prepared, you will be more efficient; that's only if you apply what you learn...
• Your efforts towards the two productive activities vary differently over time
• You mean?
• With the development of the portfolio...
• ... spend less and less time looking for new customers, because new customers end up looking for you
• ... spend more and more time developing your policy portfolio to provide your customers with enough insurance
• In dedicated modules, BrainO gives you ideas for prospecting and sales techniques"
"How can you streamline the notification of due dates, for installments and renewals?","
• Here's a way of working that can save you good hours, or even days if you have a lot of clients, and gives you just as many hours - or days - for productive activities in return
• Instead of calling customers, to inform them that they have to pay an installment or renew a policy (it takes 3...5 minutes for a customer), you can use the online communication templates - it takes 20...30 of seconds for a customer!
• BrainO provides you with online communication templates for announcing installments and renewals"
How do you communicate insurance solutions to the client?,"
• We are in the 21st century, in the midst of the era of digitization
• You can take advantage of digitization to deliver insurance solutions online
• Or you can choose the usual method of presenting solutions to clients in a face-to-face discussion
• Each method has both advantages and disadvantages"
What rules are important in the awareness stage?,"
- Listen carefully to what the client says or answers; that's the only way you'll understand it
- Look for ""hooks"" and fructify them; they will help guide the discussion to completion
- Look at the interlocutor; you will also notice what he thinks but avoids saying
- Speaks in the client's way; you are not there to impress him, nor to upset him, but to convince him to buy insurance
• Use pauses to emphasize important ideas
• Write down important ideas; otherwise you will forget them"
Who should you choose as a role model?,"
• Someone who makes money in a way that you can too
• If you will choose as your model an intermediary who earns well, but sells, for example, CAR policies worth tens of thousands of Euros, because he has relations at the mayor's office or in a party, and you do not have high-level relations either town hall, nor to any party, then you will probably be disappointed
• But you can ""steal"" work from any intermediary who does something good; it can be a statement, a question, a gesture, an inflection of the voice or a work strategy
• In any case, your role model must be a good professional and a person of integrity
• It would be good to be an intermediary that has built its strategy around the idea of ​​providing enough insurance to customers
• That's what BrainO teaches you, and that's what you should be able to learn from it too
• Because that's what customers need"
What rules are important when presenting solutions?,"
- Insists on covering major risks (death, disability, serious illness, home destruction, business destruction, damage caused to third parties), as the case may be
- If the client is concerned about certain risks, major or minor, mention them; it is what ""hurts"" him and pushes him to insure himself
- Speak clearly, briefly and to the point
- After each important topic check what the client understood
- From time to time ask for confirmations from the client
- Pay attention to buying signals and if you notice them, propose to complete the sale!
• Dribbling is important, but the goal is to score goals!"
How do you capture interest in life insurance?,"
• I think that every day I hear, several times, the sirens of the ambulance... and every time I wonder what happened to her...
• Would the car have hit someone, would a bottle have exploded, would there have been a fire?
• In any case, it doesn't work for someone who is healthy and happy...it works for someone who is experiencing misfortune, don't you agree?
• Sir..., I want to tell you some things about life insurance"
How do you deal with customers who resent your insistence?,"
• Sometimes clients react badly to the intermediary's insistence
• Why?
• Because Romanians are not used to taking care of themselves and perceive your good intentions as something contrary to their personal interests
• In this context, how much should you insist?
• As in everything, you have to find a balance:
- If you insist too little or not at all, the client will remain underinsured and you will lose out on commission - in that order!
- If you insist too much, the client will get angry and break the relationship with you
• So?
• Insist long enough that the customer understands they are underinsured, but not so long that they stop answering your phone"
What are the critical elements of a service business?,"
• A service business is usually conducted in an office, practice, salon or laboratory, so the critical elements are:
- The building
- Equipment used (eg medical equipment or computers)
- Key people (professionals on whom the business is based)"
How do you get the information to bid on joint life insurance?,"
• As for duration, I recommend a period as long as possible, of 25...30 years, because in this way the total amount received at maturity increases
• Regarding the insurance premium, we recommend the range of 5...8% of the income, in order to be able to carry the policy to the end"
How do you present business insurance?,"
• The SME policy ensures the reduction of losses in the event of a risk, by compensating for damage to the building or its contents: stocks, machinery, etc.
• The business interruption clause provides you with the financial support for restarting the business, by covering fixed costs, including additional ones, as well as partially unrealized profit
• The policy also covers any damage caused to third parties – bodily injury or material damage, thus protecting the company's reserves and assets"
What are the term limits of death insurance?,"
Life insurance term limits. Duration limits differ between insurers. The usual ones are the following minimum contract duration 5 years. The maximum duration of the contract is 30 years."
What are the advantages of unit linked compared to other investment instruments?,"
- The ease of investing; once you've taken out the policy, you essentially have to pay the premiums, and that's it
- Death protection
- Investment discipline; the insurer communicates the due dates to you, which prompts you to invest rhythmically as recommended by the specialists
- Continuity of the investment, including in case of disability, if you have purchased the exemption clause from the payment of premiums in case of disability"
What targeted questions can you use to open the discussion about a new policy?,"
• You can use questions like:
- I would like to ask you something... why did you buy the RCA policy?
- One question... do you know why people buy insurance?
- I would like to ask if your wife is aware of...
- May I ask you for what purpose you started the business?
- You have the policy of..., but it is insufficient..., is it true?
• Then keep quiet and wait for the customer's reaction
• If the question provoked him, after the client ""entered the game"", at some point you can propose the insurance you thought about"
When is the right time to approach old customers?,"
• In the case of ""warm"" customers - TODAY!
• In the case of ""cold"" customers, the next due installment or policy renewal"
How can you make policy changes more efficient?,"
• If the policies are well concluded from the outset, so they contain actual sums insured and contain the coverages the client needs, policy changes are rare
• For example, changes occur when the customer makes extensions or purchases and the sums insured change or when they take out a loan and the assignment of the policy is required
• In some cases, policies require risk inspection or are even issued by other, specialized persons
• In order for the subscription and issuance process to be as short as possible, it is good to have contact persons in the specialized departments, who will serve you promptly
• It will go a long way in creating an internal support network if you are polite and kind to those you need
• Don't forget an old proverb - ""a sweet word brings a lot""..."
What is an asset?,"
• Assets are resources accumulated in the past with the purpose of obtaining profit in the future
• The most common assets are:
- Bank deposits
- State titles
- The bonds
- ETFs
- Actions
- Real estate
- Precious metals"
How do you get the information to offer the child savings plan?,"
• As for duration, I recommend until the child is 18 years old, or at most until the age of 25
• The longer the capitalization period, the more money will be raised at the end
• Regarding the insurance premium, we recommend the range of 5...8% of the income, in order to be able to carry the policy to the end"
How do you get the name of a professional to help someone?,"
• If you get the phone number, you call and discuss a pro-professional topic, you write down the client's details in your workbook and after a time interval you call to discuss insurance"
How do you present the savings plan for the child?,"
• The child will receive the amount of... lei at maturity, no matter what happens to you:
• May you be with him, and celebrate together
• Whether a misfortune took you away from your family
• In this tragic situation, your wife will receive, immediately, once again, the same amount that the child will receive at maturity (if the insured's death clause was attached)"
How can you approach a cold customer when you are face to face with them?,"
• If you have customers who are in a hurry, and a bit stingy, and quite uncommunicative, and also grumpy, you can combine and develop these ideas to create your own approach scenarios
• How unlucky for you, to come across such customers..."
How is life insurance inflation protected?,"
Here is an example of a mechanism used by insurers. The insured amount increases annually with the inflation index. The insurance premium increases with a percentage communicated by the insurer."
What happens to the child's policy if I stop paying it?,"
• Your child will receive less money when the policy matures
• Specifically, he will receive a reduced sum assured, specified in the contract, plus additional earnings"
What information do I require to offer EEI?,"
• The following information and documents are required for bidding:
- Brand, type and serial number of the devices
- Manufacturing year
- The new (catalogue) value of the devices, ideally to obtain the purchase invoices
- Details of the building where the devices are located (similar information to that for SMEs)"
Why is it necessary to ask awareness questions?,"
• An insurance, of any kind, produces its effects only when a risk has occurred
• For the client to imagine the consequences of producing that risk, and especially to imagine how he will feel then, awareness questions are needed
• The role of awareness questions is to make the client feel what he will feel in reality when a risk occurred: when his house burned down, when he got cancer, when he hit a pedestrian, etc.
• And how will he feel when he looks into the eyes of his loved ones, after the misfortune happened...
• If he understands what is waiting for him, the client will understand that he needs to make sure
• Having enough insurance is good for the whole family"
How do you recognize an objection?,"
• An objection can be transmitted directly, i.e. verbally, or indirectly, i.e. through tone or non-verbal language, i.e. through facial expressions or gestures
• To ensure that you resolve the real objection, you need to get the customer to say what's wrong with them, not just imply that they have a grievance"
What return can I get?,"
• You can go to the website of insurer X, where you will find the evolution of each fund, from its creation to the present
• Please keep in mind that the past is no guarantee of the future
• In the field of investments, we are talking about forecasts, not certainties"
"If something happens abroad and I don't have travel insurance, will I be treated or not?","
you will be treated, but you will bear all the costs."
"If something happens to me and I can't go, can I get my money back on my travel insurance?","
It depends on why you can't leave anymore. Trip cancellation due to personal reasons such as death of a family member or first degree relative, house fire, subpoena in a lawsuit and more is covered by the cancellation clause in the insurance policy."
"It's too short a trip to experience anything, it's less than a second.","
That's how long an accident lasts."
How do you present the unit inked policy?,"
• If you are willing to take a risk, you can invest some of your savings in the unit linked policy
• The insurer will invest your money in the funds you choose - riskier or less risky - and at the maturity of the policy you will receive the amount resulting from the investments
• You can reduce the investment risk through a long investment duration of over 20 years
• You will also be able to invest any additional, unforeseen savings that appear during the contract
• To the question ""What do you advise me to do?"" reply:
• I cannot decide on your money
• I present you the advantages and disadvantages of the product, but the decision is yours
• Present the product in such a way that the customer understands its advantages but at the same time can never blame you for having misinformed him
• Send him an e-mail with the conclusions; and then archive the email"
Why do I need life insurance?,"
in the event of a tragedy, what you can no longer provide to the family, the insurer provides. It's about money, a lot of money."
How do you get the information to quote your business insurance?,"
• I need information about key elements of the business, such as:
- Building and stocks
- Machinery and equipment
- Neighbors and flow of people, both in the company and in the vicinity
• That is, about those elements that, if affected, can lead to the decrease of the business or even its disappearance
• I have a questionnaire here that we need to fill out"
How is the amount of compensation determined?,"
• If the repair costs do not exceed the new value of the insured property, the repair value will be paid
• If the repair costs exceed the new value of the insured item, the new value of the device, written in the insurance policy, will be paid"
Where can you get your motivation from?,"
• From your dream
• Yes, your dream of having lots of money and time to spend it can come true in insurance
• Think about it this way: what are the highest paying professions in our time?
• IT scientists, lawyers, doctors, notaries...
• Can you do ITst?
• Can you become a lawyer?
• Or doctor?
• Most likely not; if it were possible, you would already be an IT, lawyer or doctor
• Why is it not possible?
• Because it means long and hard years of learning, exams, stress, which you are not willing to go through
• In these professions a lot of money comes, it is true, but after years
• But there is another way to get time and money together: selling insurance
• But here too, as in highly skilled professions, the benefits appear over time
• At the beginning you work a lot and the earnings are small; after years of work, you will earn very well with much less effort
• If you understand this, this will be your motivation
• If you don't understand it, this will also demotivate you
• And you'll end up studying the job ads again..."
How is the sum insured for fixed assets determined?,"
• The insured amount for fixed assets represents their real value, so it represents the cost of replacing the goods with others of the same type, configuration and quality"
How do you recommend life insurance with savings?,"
• You will recommend life insurance with savings based on:
• Don't forget the ""formula"" of satisfaction: Satisfaction = Expectations - Reality
• Even if the company also has unit linked for children in its portfolio, it recommends a guaranteed savings plan for the client's child
• Otherwise, it will be difficult for him to tell the child that he invested badly, on his behalf...
• You will recommend life insurance with savings based on:
• Don't forget the ""formula"" of satisfaction: Satisfaction = Expectations - Reality
• Even if the company also has unit linked for children in its portfolio, it recommends a guaranteed savings plan for the client's child
• Otherwise, it will be difficult for him to tell the child that he invested badly, on his behalf..."
How do you respond to objections about SME insurance?,"
• How do you respond to objections with the substrate…"
How do I present the EEI insurance?,"
• The EEI policy covers virtually any risk that can damage or destroy the equipment on which your business relies
• In addition to the risks usually covered by insurance policies - fire, calamity, theft, etc., the EEI policy covers many other risks such as human errors, technology breakdowns, voltage fluctuations or ill will from third parties"
Travel insurance is expensive!,"
If travel insurance seems expensive, see how expensive it is to not have it. How would you feel if you had an accident? Are you suffering? Your holiday has been compromised and you receive a bill worth several thousand or tens of thousands of euros."
What are consequential damages?,"
• Consequential damages represent indirect damage, arising as a result of the occurrence of an insured event, and consisting of:
- Increase in specific costs
- Decrease in profit
• Consequential damages are usually exclusions on property insurance policies
• Business interruption may result in greater losses than destruction of property and assets"
How can you make the collection of installments more efficient?,"
• Here's a way of working that can save you good hours, or even days if you have a lot of clients, and gives you just as many hours - or days - for productive activities in return
• Instead of collecting installments in cash like 20 years ago, teach customers to pay online"
In which service should I repair my car?,"
• It depends on the insurer and the option chosen
• In general, it is advisable to go to a service in the network with which the insurer has a partnership"
What is risk tolerance?,"
• Risk tolerance is the client's willingness to assume a potential loss in the hope of obtaining a high gain
• A customer who has a high risk tolerance is willing to lose money, that is, to receive at the maturity of the policy less than he paid
• Avoid the question ""Which profit do you want, more or less?""
• All people will benefit as much as possible
• But not everyone is willing to take risks
• Don't rush to recommend the type of savings insurance until you've determined your risk tolerance
• If you recommend wrongly, you will induce unrealistic expectations, and this is the first step towards disappointment...
• Risk tolerance is the client's willingness to assume a potential loss in the hope of obtaining a high gain
• A customer who has a high risk tolerance is willing to lose money, that is, to receive at the maturity of the policy less than he paid
• Avoid the question ""Which profit do you want, more or less?""
• All people will benefit as much as possible
• But not everyone is willing to take risks
• Don't rush to recommend the type of savings insurance until you've determined your risk tolerance
• If you recommend wrongly, you will induce unrealistic expectations, and this is the first step towards disappointment..."
What actions can you take to increase your reputation?,"
- Learn the role and mechanics of insurance to master it
- Learn sales techniques so you can approach any customer
- Work organized so that you can use your time as efficiently as possible
- Serve customers so they feel compelled to recommend you
- Build a network of specialists to consult with and to quickly issue your offers and policies (e.g. product managers, possibly risk inspectors)
- Attend meetings
- Build an interesting social media profile
- Learn to use digitization: databases, applications, online search, BrainO"
How can you approach uncommunicative customers?,"
• I greet a lucky gentleman
• I tried to reach you by phone, on WhatsApp... nothing
• You know that you always hear only good things from me
• Now we are face to face and you can no longer refuse me
• Can we talk, price of a coffee?"
"What is ""all risk"" insurance?","
• An ""all risk"" insurance is a policy that covers all risks, except exceptions
• By comparison, a ""named risks"" insurance, such as, for example, the SME policy, covers exclusively the risks named in the policy"
What child clauses can be attached to the child's policy?,"
- Surgery insurance
- Hospitalization insurance
- Insurance for burns
- Insurance for fractures
- Medical expenses
• The types of clauses differ by insurer"
"How do you answer the objection ""I don't need accident insurance""?","
• What about the ambulance service you might need?
• What about SMURD...?
• Why?
• Because… it can happen, right?
• You know the saying ""Trouble never comes alone""
• You probably have some money in the bank, which today is there, tomorrow you take it out, enjoy it...
• ... and the accident always comes when we least expect it
• And we don't know what he leaves behind"
How is the money paid for the child's policy an investment?,"
• In order to obtain the guaranteed sum at the maturity of the policy, in any economic conditions, insurers invest the life insurance capital mainly in safe instruments
• At the level of the entire life insurance market in Romania, the structure of investments is as follows:
• ≈ 85% in bonds
• ≈ 15% in deposits, shares, etc"
"If I am treated in a state hospital, how will I be compensated?","
• No matter which type of hospital you are treated in, you will be compensated the same
• For reimbursement of hospitalization or surgical interventions, you will not be asked for invoices, but the discharge ticket and other medical documents"
How do you capture interest in compound life insurance?,"
• There are some very interesting products, even unique, if we think about the benefits
• It is a ""2 in 1"" type product,
• Specifically, it is about life insurance with savings
• Do you want me to tell you more about this exceptional product?"
"How do you respond to the objection ""I'm not buying the child savings plan now""?","
• You see... you can say ""I'm not saving for today, but for next month""
• But you can't say ""I won't have an accident tomorrow, but only in 3 months""
• If you like the idea of ​​raising money to make your child's dreams come true, you could sign the contract with that thought in mind
• Gradually, you will integrate the installments into the family budget and the money will accumulate unnoticed"
How is supplementary clauses inflation protected?,"
• The inflation protection of additional clauses is done in the same way as for the basic insurance, to which the clauses are attached"
How do you find out the real objection?,"
• You can find out about the real objection in two ways:"
What risks does the child savings plan cover?,"
• The actual policy covers two risks:
- Death of the insured, by taking over the payment of the premiums
- Survival of the beneficiary (child), by paying the guaranteed insured sum
• Recommendation:
• Complements the protection with death insurance and exemption from payment of premiums in case of invalidity of the insured"
"Who are ""warm"" customers?","
• Warm customers are:
- Those with whom you interact frequently - at least 3-4 times a year
- He pays his policies on time
- Listen to your advice"
How do you recommend the right life insurance?,"
• Who needs life insurance?
• How do you recommend life insurance with savings?
• How do you size a life insurance?
• If the customer stubbornly asks you for a different solution than the one you recommend, send them an email with your reasoning
• He will never be able to say that he was not well advised
• Insist on selling the client ""enough"" insurance, i.e. sufficient protection against major risks: death, disability, serious illnesses
• Many people avoid considering them out of superstition, but the risk is a certainty
• Who needs life insurance?
• How do you recommend life insurance with savings?
• How do you size a life insurance?
• If the customer stubbornly asks you for a different solution than the one you recommend, send them an email with your reasoning
• He will never be able to say that he was not well advised
• Insist on selling the client ""enough"" insurance, i.e. sufficient protection against major risks: death, disability, serious illnesses
• Many people avoid considering them out of superstition, but the risk is a certainty"
What role does the EEI policy have for the insured's family?,"
• Because it offers complete protection for electronic equipment, the EEI policy ensures the reduction of losses in the event of a risk
• The EEI policy represents an important pillar of support for a family whose well-being is given by a business based on electronic equipment"
How do you present the benefits of accident insurance?,"
• Receive money in case of operations or hospitalization
• You receive a lot of money in case of disability
• And in case of a serious accident, you leave the family the sum of... lei
• ""Hello"" is said a little; this insurance is exceptional, especially since you can bring her and other family members under her umbrella"
Are pre-existing illnesses covered by travel insurance?,"
Acute illness or emergency medical expenses are covered, within certain limits much lower than the basic sum assured. Depending on the insurer."
What amount does the insurer pay in case of termination of the policy on death?,"
Being risk insurance, death insurance has no cash value. In case of termination of the policy, the insured receives nothing."
What happens to the savings plan if the child dies?,"
• In the event of this tragedy, the insured, who is usually the parent, has two options:
- To collect the amount accumulated on the policy, without any penalty (so to receive the mathematical reserve and not the surrender value), plus the additional profit
- To convert the savings plan for the child into a mixed life insurance for the insured, for the rest of the remaining period of the contract
• There may be other options depending on the insurer"
What risks are excluded from death insurance?,"
War, revolution, civil unrest, insurrection, state of siege, nuclear risks, suicide attempt. Intentionally committing acts criminalized by the Criminal Code, mental illness, AIDS infection, practicing extreme sports, participating in medical experiments, infectious diseases and pandemics. Medical services without a written recommendation. Actions brought by the insured, contractor or beneficiary. Acts of terrorism."
Particular case companies that send employees to work abroad. Is there a specific insurance option for companies that frequently send a large number of employees to work abroad?,"
Specific to this policy is the fact that an insurance premium is calculated per employee per day. Four parameters are taken into account for issuing the policy. The field of activity of the company. The total estimated number of days of travel abroad of the entire group. The maximum number of days spent abroad per person, the number of employees who go to work."
What exclusions does travel insurance contain?,"
Exclusions may differ between insurers. The most common are the following. Pre-existing and chronic diseases. However, the acute phase of the disease, the acute pustule, is covered. Services that do not involve a medical emergency or that have been requested by the insured for prevention purposes. Alternative or naturopathic complementary medicine eg acupuncture, osteopathy, reflexology, aromatherapy etc. Circumcision. Medical services required as a result of practicing extreme sports. War, even undeclared. Invasion, military occupation. Civil war. Insurrection. Civil disturbances. riots Medical services related to pregnancy, childbirth or their consequences. Surgical interventions and purely aesthetic treatments. Self-mutilation, suicide attempt or suicide of the insured. Carrying out the trip or refusing to interrupt the trip, contrary to any prohibitions or warnings issued by competent national or international authorities. Also, no compensation will be granted if the policy was issued after leaving the territory of Romania."
What is a fund unit?,"
• The fund unit is the unit of measure for the performance of an investment fund
• The fund units in the account of a contract represent the holdings of the contractor in the investment fund, based on the premiums paid
• Fund units change their value from day to day, depending on the value of the fund"
If I have several claims in one year will they all be compensated?,"
• Yes
• But after each claim you will have to make up the sum insured, to avoid underinsurance
• Replenishment of the insured amount is done by paying a difference in premium proportional to the amount of the compensation and the rest of the remaining period of the contract"
"What are the advantages of using the ""three-legged table"" method?","
• Using this technique helps the client to be aware of most, or sometimes even all, of the risks they are exposed to, and not just the ones they suspect, such as crashing your car or being flooded by your neighbor
• The client understands the risks to which he and his family are exposed, and subsequently chooses the one that worries him the most; it may be a risk he never even thought about until he talked to you
• ""360°"" awareness of the risks to which the client is exposed allows the intermediary to sell optional, complex insurances, therefore insurances with high added value"
What is the child savings package?,"
• The optimal savings option for the child is the package composed of:
- The savings plan for the child
• Life insurance of the insured (usually the parent)
• The insured's permanent disability insurance due to the accident
• Exemption from payment of premiums in case of invalidity of the insured
• If the insured brings up the rigidity of the package - for example the difficulty of partial withdrawals - say:
• You just save
• The money belongs to the child
• Uses the ""domino principle"" to highlight the fact that savings continue unchanged in the event of death or disability of the insured - an unbeatable advantage of this package
• The optimal savings option for the child is the package composed of:
- The savings plan for the child
• Life insurance of the insured (usually the parent)
• The insured's permanent disability insurance due to the accident
• Exemption from payment of premiums in case of invalidity of the insured
• If the insured brings up the rigidity of the package - for example the difficulty of partial withdrawals - say:
• You just save
• The money belongs to the child
• Uses the ""domino principle"" to highlight the fact that savings continue unchanged in the event of death or disability of the insured - an unbeatable advantage of this package"
What to avoid posting on social media?,"
• Vulgar messages and images
• Messages written incorrectly grammatically
• Băscalie
• Pictures from family life"
How do you plan your daily activity?,"
• ""Fill"" your day with Prospecting + Phones + Meetings + Bidding + Learning
- Start using a personal database
• Write in it all your knowledge - yes, all -, without making assumptions about who will be insured and who will not; over time, experience will confirm that surprises can arise
• Then write down, daily, all the people you learned about that day
• Do this from the first day of work, throughout the time you will be an insurance intermediary
- First thing in the morning, consult your diary and check what meetings are planned
- Call customers
• How many calls to make? BrainO recommends that you set a daily goal that you can't deviate from even if you don't want to. For example, 30 phones every day; regardless of their outcome. But let 30 be 30, not 20 and not 10!
- Go to meetings with clients
• An appointment can last, on average, an hour to an hour and a half, which includes the journey to and from the client; so in a day you have time for 2-3 meetings
- Set aside an hour every day to study
• You can choose an interval, always the same, in which your mind is more receptive, or you can use the time between meetings for learning
• Because you use the BrainO application, you can learn anywhere: at the office, at home, in the car...
- Learn about insurers' issuing programs
• This is the only way you will be able to issue quickly and correctly
- Learn the financial and administrative procedures of insurers
- Learn to use digitization in customer communication and prospecting"
What does SME mean?,"
• Each insurer has its own definition of what small and medium-sized enterprises (SMEs) mean
• In general, trade, service or production companies are included, where the total insured amount does not exceed a certain limit (for example 1, 2, or 3 million Euros)
• Firms in agriculture, wood processing, chemical industry, as well as some types of warehouses are usually excluded"
"What do you aim for by ""warming up"" cold customers?","
- ""Warming up"" cold customers is primarily aimed at making them trust you more and accept your advice
- Obviously, the ultimate goal is to sell them as many policies as possible, until they end up with enough insurance
• Concretely, you will be able to say that you are on the right track if:
• More and more customers will ask you for new policies
• More and more customers will buy the new policies you offer
• You will be delighted to find that the completion rate in both situations is almost 100%!
• ""Chinese Drop"" breaks the stone
• In time
• Always"
Can the travel policy be issued if I am already abroad?,"
Yes, but only with the written consent of the insurer and under certain conditions. A waiting period that differs between insurers, for example 8 days. Proof of non-existence of damages. The period since the customer is abroad. Not to exceed a certain number of days."
What mistakes to avoid?,"
• It's very easy for a 10-minute break to turn into 15, then 30, and then 60 minutes...
• You can use the Internet to do prospecting or to waste time...
• You can start the working day at 8, 10 or 12...
• You can end the working day at 6 pm or 12 noon...
• You can work 5 days a week or 1 day a week...
• Freedom can be an opportunity or a trap
• Some activities you will like more, and you will do them with pleasure, and others less or not at all, and you may be tempted to avoid them; but remember that it is a chain, which is never stronger than its weakest link
• If you neglect, or worse, if you omit to do what you dislike, you will create the conditions for failure to succeed
• In conclusion, the two big mistakes that can compromise your dream are:
- The rose
- Superficiality
• Their opposite are two qualities that will help you see your dream with your eyes:
- Diligence
- Seriousness
• PS: if it seems to you that the word ""must"" has been used too often, think like this: you have to realize your dream, or will you be satisfied even if you miss it...?"
What risks can the SME policy cover?,"
• The SME policy can cover two types of risks:"
How do you capture interest in the child savings plan?,"
• You have a small child and therefore I really want to introduce you to something very special
• There are some very interesting products, even unique, if we think about the benefits
• It is a ""2 in 1"" type product,
• Specifically, it is a savings plan for your child
• Do you want me to tell you more about this exceptional product?"
How do I proceed in case of partial damage?,"
• It would be ideal for the client to call his intermediary, so that he, depending on the insurer and the type of damage, tells him the steps to follow
• But, always, the insurer must be notified as soon as possible (usually within 72 hours maximum), without exceeding the term provided for in the insurance conditions, which may vary between insurers"
What is a decent income?,"
• It means that the family's income covers current expenses and at the same time there is the possibility of saving some sums of money for emergencies or for distant goals
• Without an income you will have to resort to savings - if there are any, and if you don't have ""white money for dark days"", you will have to sell your goods or even change your home
• Even if you have material comfort, even if you have no payment obligations, but if your income, necessary for daily living, has disappeared, the well-being of the family will be seriously affected"
"How do you respond to ""I'm not buying home insurance right now""?","
• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again
• In Romania, approximately 7,000 homes burn every year
• Every year several thousand families stay on the road because one of the spouses said the same: ""Not now""
• Do you know how many people come and ask - after - ""And tell me, now nothing can be done""?
• And the answer is tough
• And unique
• Yes; after that, nothing can be done"
"What is the role of the insurance intermediary, from the customer's perspective?","
• The role of the intermediary is to convince each customer to buy as many of the policies as possible that provide him and his family with enough insurance
• An intermediary is really good when his clients have financial security, so they are at least protected against major risks
• To fulfill your role you have to insist
• Civilized, but insist
• The intermediary must be a discreet but constant presence in the family life of each client
• Because where middleman fails, mischief can succeed
• Because fire, death and earthquake come unannounced
• Don't shy away from excuses like ""Well, what should I do, if the client only does the mandatory and casco?""
• Your role is to sell value added insurance ie optional policies
• If you reduce yourself to the mandatory and the casco, the customers don't need you
• Soon they will be able to buy these policies on the Internet
• And then why should they pay you?"
How can you increase your reputation?,"
• Everything you do, good or bad, affects your reputation
• Building reputation is an ongoing process, which you can influence by the actions you take and the way you behave"
"If I am sick, can I get life insurance?","
Before you answer, you can ask. Would you lend 10,000 euros to a sick person?"
Can I change the investment option?,"
• Yes
• You can change the way your money is invested, or the allocation to funds, at any time
• You are entitled to one or two free changes each year
• This depends on the insurer"
What does capitalization mean?,"
• Capitalization (in popular terms ""interest on interest"" or ""snowball effect"") means the annual, repeated reinvestment of the amount existing at the end of the previous year
• It is important to remember that the guaranteed capitalization mechanism, specific to traditional life insurance, guarantees the client that his sums will always increase, so they will never decrease: today the insured has more money than yesterday, and tomorrow he will have more money than today
• There are also capitalized bank deposits
• But bank deposits usually have a duration of one year, the money can then be withdrawn without penalty, while a life insurance with capitalization has a long duration, usually 20...30 years
• Different financial instruments with different purposes"
How do you ask for customer consent to send them messages?,"
• Here are three options:
- Do you agree that I send you, once a month, an interesting message on the topic of protection?
- I use to send my clients monthly very useful messages about risk and family protection. Do you agree with my inclusion in the list?
- I periodically send - once a month - informative messages about personal and family protection, which my clients find very useful. Would you like to receive them too?
• You can also rebroadcast them to your friends"
What risks does travel insurance cover?,"
Travel insurance covers two categories of risks basic risks and additional risks."
How much money does the child get at the end?,"
• When the policy matures, the child receives the insured amount plus the additional earnings
• That is, he receives at least the sum insured, which is guaranteed by the contract"
What is an objection?,"
• An objection is a way of expressing dissatisfaction or concern
• Some customers, when they have a doubt, ask
• Others, when they have a concern, prefer to object, so as not to appear ignorant...
• If there were no objections, agents would probably sell many more policies….
• ... but the commissions would be much lower
• From the client's perspective, the objection is an indirect way of saying: ""Convince me!"""
How much money do I get back if I cancel the death insurance policy?,"
How much money do I get back if I cancel the policy? If you cancel the policy, you get nothing. This type of risk insurance policies without savings component."
Which are the most profitable and which are the safest assets?,"
• The assets that can bring the highest return are also those that can generate the biggest loss
• Show the client this chart so they can set realistic expectations
• High gain and safety at the same time,... not yet invented
• In the ""low risk - low gain"" area are the assets in which traditional insurance capitals are invested
• That is why traditional insurance returns are low"
Do I pay and get settled later in case of a health problem abroad?,"
Or does the insurer pay directly? Depends. It is recommended that you call the support company for guidance and determine which of the two methods works best for you. Beware if you don't call, although you can! Insurers have a limit beyond which they will not pay unless notified in advance."
How are the sums insured on the IMM policy determined?,"
• The insured sums are determined according to the type of heritage assets:"
How do you determine risk tolerance?,"
• You can ask the client the following two questions:
- Would you borrow 3,000 Euros to invest them? (Yes No)
- If the investment made a loss, would you leave the money there? (Yes No)
• Conclusion:
- If the client offered at least a ""No"", then it means that he has low risk tolerance
- If the client offered two ""Yes"", then it means that he has a high risk tolerance
• You can ask the client the following two questions:
- Would you borrow 3,000 Euros to invest them? (Yes No)
- If the investment made a loss, would you leave the money there? (Yes No)
• Conclusion:
- If the client offered at least a ""No"", then it means that he has low risk tolerance
- If the client offered two ""Yes"", then it means that he has a high risk tolerance"
"How do you respond to the objection ""I don't need home insurance""?","
• But why do you need RCA?
• Because… it can happen, right?
• If you find a ruin in the place where your home is, what will you do?
• Where will you live?
• How will you look your wife and children in the eyes, knowing you could have protected them, but didn't because...?
• After ""because"" what will follow?
• If you need housing, you also need insurance
• Because insurance means housing"
How can you approach strangers?,"
• With the conviction that you are doing them a favor
• And that good must be done as quickly as possible
• So that you don't get sick before...
• Because risk is a certainty
• In anyone's life"
What can I do if I see that I'm losing money?,"
• You are probably referring to the fact that the value of the units decreases, correct?
• In this case you don't have to do anything; simply
• On the contrary, if you have an amount of money available, this is the right time to invest
• Please note that you only lose money if you cancel the policy when the units are cheap
• Panic is the number 1 enemy of investors"
What policy do you recommend to a client with a low risk tolerance?,"
• To a client with a low risk tolerance, you recommend a guaranteed policy, ie mixed life insurance
• If you attach the exemption clause from paying premiums in case of disability, the policy becomes the ideal long-term savings tool
• If the insured becomes disabled, the insurer will save in his place
• A customer with low risk tolerance will buy life insurance for the sum assured
• Emphasize this advantage as best as possible
• To a client with a low risk tolerance, you recommend a guaranteed policy, ie mixed life insurance
• If you attach the exemption clause from paying premiums in case of disability, the policy becomes the ideal long-term savings tool
• If the insured becomes disabled, the insurer will save in his place
• A customer with low risk tolerance will buy life insurance for the sum assured
• Emphasize this advantage as best as possible"
How can you use specialized sites?,"
- Determine a field you want to focus on - for example ""PSI equipment distributor"", ""installations"" or ""general trade""
- Search the internet for the field of activity you have chosen
- Corroborate the information obtained (company + administrator + telephone)
- Write the information in your personal database (for example CRM or Inteligenda)
- Sounds!
• Important: because you obtained the information from a website, you can call the contact without being exposed to GDPR restrictions
• Caution: in the initial approach to the client, refer exclusively to business insurance"
Are pregnancy complications covered by travel insurance?,"
Only pregnancy complications occurring in the first 26 to 30 weeks of pregnancy are covered. Depending on the insurer."
How can the number of customers increase?,"
• The number of customers can increase in two ways:
• The two methods influence each other: the more customers you find, the more customers will look for you"
How do you present the benefits of death insurance?,"
• Life insurance gives your wife and children what disappeared with you: your wages
• So that the shock is not doubled by privations and falling living standards, good life insurance replaces wages for 4-5 years in advance
• In your case, how much would the wages be for 5 years?
• Would this amount be enough for the wife, or would she need a larger amount?"
"How do you respond to the objection ""I'm looking for you to buy a savings plan for the child""?","
• Not bad either
• From the point of view of saving
• But delaying presents a great risk, for the future of your son / daughter
• This is the risk of having an accident, and at that moment not having started the savings plan yet
• If misfortune occurs when the savings plan is in place, the parent is gone from the child's life, but the savings continue
• Who is still saving?
• ""The third parent"": the insurer
• Tomorrow may be too late…"
What if the insurer goes bankrupt?,"
• How many insurers have you heard of going bankrupt?
• If you mean Astra, Carpatica, Euroins and City, these companies had a common denominator: they practiced dumping prices in RCA
• And three of them had Romanian shareholders
• To reduce this risk, choose a strong insurer
• Some of the strongest and most experienced insurers in Europe operate in Romania"
What clauses can be attached to the policy for the child?,"
• The savings plan for the child can be attached...
• Additional clauses for the parent
• Additional clauses for the child"
What are the critical elements of a trading business?,"
• A trading business is usually conducted in a shop or warehouse, so the critical elements are:
- The building
- Merchandise stock
- The means of transporting the goods"
How can you present the purpose of the discussion?,"
• The purpose of our discussion is to help you understand the risks you and your family (and possibly your business) are exposed to, so that you can make the best decision for your family's safety
• The optimal decision means that whatever risk occurs, your family is protected
• Will the life of the family after the occurrence of the risk be the same as the life now...?
• Some clients follow my advice, and others postpone or refuse, and then take unnecessary risks
• No one ever suffered because they had ""too much"" insurance, but many have suffered because they lacked the right insurance"
Why don't I get anything back if I cancel the death insurance?,"
If I terminate CASCO or home insurance. Get something back."
"How do you handle the ""No thanks"" objection?","
• All right
• I realize that my approach took you completely by surprise
• I can give you my business card
• Thank you and I apologize once again for bothering you"
What policies protect family income?,"
• Family income can come from salaried work (or commission, honorarium, royalties, etc.) or from dividends
• The insured's income can be protected by:
- Temporary work incapacity insurance
- Business interruption insurance
- Unemployment insurance
• The income of the insured's family (wife, children, etc.) can be protected by:
- Death insurance"
"How do you solve the ""I don't have money"" objection?","
• Most often it is also a form of expressing the objection ""I don't need""
• A customer who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property)
- A: I have no money
• How to tell you ... If today, when you are healthy, earn money, have a home, you say you have no money, then after a tragedy what will it be like? (propose the meeting)
- A: I have no money
• I understand you don't have money to throw away. Which is very good, because it means you know the value of the penny. And this is exactly what I propose to talk about, how to protect what you have – house, income, savings. (propose the meeting)
• Don't fall into the trap of saying ""But I don't want to sell you anything""; of course you want to sell!
• Forget expressions like ""I just want to get to know each other"", ""I just want to see what policies you have""; don't start the relationship with lies...
• Don't make the mistake of saying - from the phone - ""Well, I can offer you cheap insurance, the cheapest on the market""...
• In this way you will compromise yourself in the eyes of the client, who will automatically put in your mind the label ""Another who wants to fool me. I don't need him!""...
• ... or, if you come across a customer with a toupee, you risk hearing: ""Oh, yes? Do you have cheap insurance? That's great! Send me one for 100 lei""
• What are you doing then...?
• Most often it is also a form of expressing the objection ""I don't need""
• A customer who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property)
- A: I have no money
• How to tell you ... If today, when you are healthy, earn money, have a home, you say you have no money, then after a tragedy what will it be like? (propose the meeting)
- A: I have no money
• I understand you don't have money to throw away. Which is very good, because it means you know the value of the penny. And this is exactly what I propose to talk about, how to protect what you have – house, income, savings. (propose the meeting)
• Don't fall into the trap of saying ""But I don't want to sell you anything""; of course you want to sell!
• Forget expressions like ""I just want to get to know each other"", ""I just want to see what policies you have""; don't start the relationship with lies...
• Don't make the mistake of saying - from the phone - ""Well, I can offer you cheap insurance, the cheapest on the market""...
• In this way you will compromise yourself in the eyes of the client, who will automatically put in your mind the label ""Another who wants to fool me. I don't need him!""...
• ... or, if you come across a customer with a toupee, you risk hearing: ""Oh, yes? Do you have cheap insurance? That's great! Send me one for 100 lei""
• What are you doing then...?
• Is it a real objection?
• Yes (1%) and no (99%)
• There may be temporary, transient situations in which the family has few financial resources: for example in the days preceding the salary or in the case of illness of a family member
• Most of the time, however, it is a false objection, which actually masks distrust"
How do you capture interest in accident insurance?,"
• I often think that every day I hear the ambulance sirens several times... and each time I wonder what happened to her...
• Would the car have hit someone, would a bottle have exploded, would there have been a fire?
• In any case, it doesn't work for someone who is healthy and happy...it works for someone who is experiencing misfortune, don't you agree?
• I want to tell you a few things about accident insurance"
What risks does the unit linked policy cover?,"
• The unit linked policy covers the risk of death from any cause
• There are two ways of calculating the allowance paid in case of death:
- The sum between the sum assured at death and the account value at the date of death
- The maximum between the sum assured at death and the account value at the date of death"
How do customers express their dissatisfaction?,"
• Verbal: They make negative statements or ask mean questions
• Paraverbal: phrases are spoken in an ironic or aggressive tone; or, on the contrary, the client is silent
• Nonverbal: I make gestures with my hand or shake my head in disbelief, look askance or sneer implicitly, with the meaning ""Let me know..."""
What are the rules of the telephone approach?,"
- Respect the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease
- Build a universal approach scenario; use Braino's recommendations and prepare a scenario that suits you
- Be prepared for objections; prepare a set of your own responses to each objection
- After answering the objection, propose the meeting; otherwise you give the client the time to come up with another objection
- Speak loudly, clearly, with intonation, use pauses; voice is the only weapon you have in the telephone approach
- Fit in 1-2 minutes; if the client initiates debates, suggest that you continue the discussion at the meeting
- Finds a balance between politeness and insistence; one without the other has no effectiveness
- Requests feed-back; ask a colleague to listen to you and tell you what you are doing well and what you are not doing, in his opinion
- Immediately after the conversation, write the result in the work diary, preferably in electronic format (Braino can offer you a powerful tool - Inteligenda); otherwise you will forget the result of the discussion
• The result contains the name, phone number, date and time of the meeting, other specific details
- Respect the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease
- Build a universal approach scenario; use Braino's recommendations and prepare a scenario that suits you
- Be prepared for objections; prepare a set of your own responses to each objection
- After answering the objection, propose the meeting; otherwise you give the client the time to come up with another objection
- Speak loudly, clearly, with intonation, use pauses; voice is the only weapon you have in the telephone approach
- Fit in 1-2 minutes; if the client initiates debates, suggest that you continue the discussion at the meeting
- Finds a balance between politeness and insistence; one without the other has no effectiveness
- Requests feed-back; ask a colleague to listen to you and tell you what you are doing well and what you are not doing, in his opinion
- Immediately after the conversation, write the result in the work diary, preferably in electronic format (Braino can offer you a powerful tool - Inteligenda); otherwise you will forget the result of the discussion
• The result contains the name, phone number, date and time of the meeting, other specific details"
How do you list death insurance?,"
• No one can replace either the spouse or the parent
• Unfortunately, the disappearance from family life brings with it another trouble - the disappearance of income
• No one cares what happens to their loved ones
• Every adult who loves his family makes sure that they are well, even in good times, but also in case of...
• You think and feel the same way
• That's why you want to buy a death insurance, by which you leave the family the sum of... lei
• In this way, in case of premature death, your wife will receive, immediately, in advance, the equivalent of your salaries for... years
• Make this gesture knowing that you, personally, will never benefit from this policy
• But it will mean invaluable help and brighten the days of loved ones, if a tragedy occurs"
How do you capture interest in business insurance?,"
• I know you have a business...and I'd like to ask you something
• For what purpose did you start the business?
• Any business, small or large, has a clear goal: profit
• You definitely do everything you can to make the business run as smoothly as possible
• Are the business and the profit from the business insured?
• Concretely, today, do you have complex insurance for your business?
• Let me show you how you can insure your business against insurable risks that could destroy your business!"
I prefer to get a European health card.,"
It's more than nothing, but before you decide, it's good to know the limitations of the European Health Insurance Card. It is valid exclusively in the European Union, Switzerland, Norway, Lichtenstein and Iceland. It is valid exclusively in state hospitals. The coverages are according to the legislation of the country where the event occurs. Now that you know all these limitations, you agree that the best protection is provided by travel insurance."
What information do you require for the Travel Insurance offer?,"
The following documents and information are required for the Travel Insurance offer. The bulletin if the trip is in Europe, respectively the passport in all other cases, both for the insured and for family members. If they leave together. The exact duration of the trip from day to day Purpose of the trip study, work or business trip. If dangerous or seasonal sports will be practiced, if the insured wants to insure for other risks besides the standard ones, namely accident or illness."
How does the travel policy differ from the European Health Insurance Card?,"
The European card is free, while the travel insurance policy has a price. The European card is only for Chase payers, while the travel insurance policy is issued to anyone who pays. The European card is issued in 7 days, while the travel insurance policy is issued on the spot. The European card is only valid in the European Union, Switzerland, Norway, Lichtenstein and Iceland, while the travel insurance policy can be valid worldwide. The European card is only valid in state hospitals, while the travel insurance policy is valid in any hospital. In the case of the European card, the coverages depend on the legislation of the country where the accident or illness occurred, while in the case of the travel insurance policy the coverages are much more complex and are the same worldwide."
How much money do I get back if I cancel the casco policy?,"
• Depends
- If there were no claims on the policy, the insurer pays an amount proportional to the number of days remaining until the end of the policy (pro rata principle)
- If there were damages on the policy, the insurer pays nothing"
How can you present your work strategy?,"
• In order to be able to recommend the right solutions, I need to understand your family's situation as well as possible
• That's why I'm going to ask you some special questions that I ask all my clients
• You can draw a parallel with a medical consultation; and the doctor, before prescribing your treatment, asks you about your health status
• I will do the same, only we will discuss the financial security of your family
• Please ask me whatever you feel the need and whenever you feel the need
• Is OK?"
How should you work if you are a part-time agent?,"
• If you carry out another activity, but the schedule is not rigid, so you have ""windows"" often enough, you can combine the two activities
• But if you also have a job that requires a fixed schedule, from the hour... to the hour..., then things get complicated
• What are the new premises in this case?
- First of all, your financial objective is moving away, by some years; you need to set realistic expectations so you don't get disappointed
- Secondly, the possibility of having sales meetings is significantly reduced; realistically speaking, how many meetings can you have in the evening, after 6pm...?"
What are the criteria for determining the insurance premium for the casco policy?,"
• Criteria differ by insurer and depend on each individual's policy
• The most important criteria are:
- Age of the vehicle
- Natural or legal person
- Vehicle type (make, model, cylinder capacity, power, maximum authorized mass)
- Destination (private use, commercial, taxi, rentals, etc.)
- Age of the insured
- Age of the license
- Number of owners
- One or more drivers
- Damage history"
Why is it good to make a personal introduction?,"
• Self-presentation isn't about saying your name, it's about confidently and confidently stating who you are as a professional
• Asserting, from the very beginning of the conversation, your status will place you on the same level of power as the interlocutor, even if you are talking to a rich, influential and full of himself businessman
• Your interlocutor will understand from the start: in his field he is the specialist, but in the field of insurance you are the specialist
• Otherwise you risk feeling small and humble in front of a client with a strong personality"
How do you become aware of the idea of ​​risk?,"
• Some people understand that there are risks, independent of our will
• Responsible people buy insurance to protect their families
• The others think they are safe and unconsciously take unnecessary risks
• Do you agree that no matter what we do, we cannot eliminate risk from our lives?
• If you get the client's agreement that the risks exist, you've won an extremely important battle
• If he tries to object, you will remind him that he has agreed that the risk exists
• So implicitly there is also the need for insurance protection
• If you manage to get the customer to ""change the handle"", that is, to move the discussion from the product - which can be contested - to the need - which cannot be contested, you have taken a huge step forward
• By educating the client, you managed to make him aware and prepare your ground to sell him other policies in the future
• Until his family gets enough insurance"
"How do you respond to the objection ""I don't have money for death insurance""?","
• With all due respect... do you allow me to disbelieve you?
• It is impossible not to be without the amount of... lei
• Because if you do not accept this small loss now, those who are so dear to you may be forced to accept a loss hundreds of times greater
• Treatments are expensive
• And your wages are priceless..."
"How do you respond to the objection ""I don't have money for a savings plan for the child""?","
• I understand that in the short term you have other priorities
• But in the long run, the child's future is the number 1 priority, is that true?
• How do you usually go about it, spend and then save if there is anything left, or do you save regularly?
• Because another indirect advantage of saving through this policy for the child is discipline
• Once you start saving, the insurer periodically reminds you to put money aside for your child
• The final benefit is your son / daughter's"
How is the amount of compensation determined on the IMM policy?,"
• The determination of the amount of compensation is determined according to the type of insurance:"
How do you size death insurance?,"
• A client has ""enough"" death insurance if the insured amount represents the equivalent of his income over a period of 3...5 years
• Mortgages, if any, must be added to this amount
• A client has ""enough"" death insurance if the insured amount represents the equivalent of his income over a period of 3...5 years
• Mortgages, if any, must be added to this amount"
What type of appliances can be insured through the EEI policy?,"
• Any type of static electronic devices, used in fields such as trade, industry, research-development or education, with a maximum age of 5 years can be insured
• Under certain conditions, some insurers also accept the insurance of mobile electronic devices, i.e. which are also used outside the premises (for example measuring devices)"
What kind of travel policy should I buy if I go abroad often as a tourist?,"
It really depends on how often you go and how long the journeys are. You need to be aware of the maximum period of continuous coverage that the insurer offers, which can be between 30 and 180 days per year. Policies valid for 365 days can also be issued for multiple trips, but the condition is that the total number of days spent abroad does not exceed the maximum number of consecutive days covered by the policy."
How am I compensated if the sum insured is less than the expenses?,"
• The maximum compensation you can receive is the sum insured
• That's why I recommend you buy ""enough"" insurance from the beginning
• On the other hand, you will be compensated even if you have not paid a single lei, because the insurer compensates you based on medical documents, and not on invoices"
How do I know the insurer will compensate me correctly?,"
• The insurer concludes a contract with you
• That contract must be respected
• Since Romanian insurers pay almost 4 million Euro per day in the form of indemnities and compensations, it means that they respect their contracts"
How do you present additional life insurance clauses?,"
• Additional clauses can compensate for the drop in family income if you die prematurely
• Additional clauses give you money for treatment and protect your savings
• Next you use the ""domino principle"" to explain the benefits of the exemption clause from paying premiums in case of disability
• From what source will you pay the premiums?
• Do you work for a salary, or do you receive it as a gift?
• In order to work, the first condition is to be able to work, agree?
• If there were an accident that would make you unable to work, the salary would disappear, but so would the insurance, wouldn't it?
• If the insurance continued, unchanged, being paid by the insurer, what would you say?"
How to avoid presenting products prematurely?,"
• Premature presentation of products creates the impression of haste, superficiality and lack of professionalism
• The client deduces that you make the same presentation in front of all clients, so the products are on the first plan, and he, as a person, as a family member, as a businessman, is on the second plan
• And the natural reaction will be to look for your ""knot in the rush""... this product is not necessary for him... he does not trust this product... he heard about this product that it is expensive... etc.
• You yourself generated exactly what you wanted to avoid: objections
• Specifically, avoid statements like:
- We have everything, whatever insurance you want, you can find it with us (if the client wanted one of these policies, he came to the office himself...)
- I can provide you with an insurance of... what do you say, are you interested? (if the client wanted this policy, he came to the office himself...)
- Don't you want a policy of...? (induce the answer ""I don't want to"")
• However, there is an exception to the rule, namely the situation where the customer has told you on the phone that he is interested in a certain type of insurance
• Then you can discuss that insurance, ask for the information for the quote, but also try to do a complete risk analysis of the client's family and business
• If you succeed, good; if not, that's for another time
• Either way, the customer is better protected with that policy than before"
What types of messages can you post on social media?,"
- Interesting things
- Educational messages
- Beautiful things
- Quality humor"
Digitization: an ally or a foe for insurance intermediaries?,"
• Digitization is much more of an ally than an enemy
• Why enemy?
• Because, gradually, some of the compulsory policies and some of the popular policies will be easy to buy on the Internet
• And more and more customers will
• Why ally?
• First of all, because Romanians are not used to taking care of themselves; or in other words, there are few Romanians willing to buy insurance, other than RCA, casco and housing
• We are after 30 years of private insurance and only 1 in 5 Romanians have their home insured, and their number has been stagnant for years
• And only 1 in 7 Romanians have life insurance
• Yes, they will find insurance on the Internet, but only those who will search for insurance on the Internet
• There will still be a lot of people who won't go online, and will wait for someone to convince them to get insured
• Who?
• For example, you
• The job of prospecting and approaching customers still remains the responsibility of intermediaries
• Second, complex policies, which have a laborious underwriting and issuing process, require and will continue to require the input of a professional consultant
• And here come dozens of types of policies and clauses, such as business insurance, i.e. corporate policies, civil liability insurance or life insurance
• Remember the nuance: clients will need professional consultants, who can justify their commission by the added value they bring to the client"
Where does the insurer get the money to pay the death benefits?,"
A part of the insurance premium, respectively the risk premium, is used by the insurer to establish the risk fund from which the indemnities are paid. Since the risk of death increases with age, the risk premium also increases. For commercial reasons. Insurers calculate a constant level insurance premium throughout the life of the policy. In the first part, the insured pays more than the statistically calculated risk, and in the second part less."
How much money do I get at the end of the death insurance?,"
When the policy expires you get nothing. This type of policy is risk insurance with no savings component, just like property and property insurance."
How is EEI insurance better than property insurance?,"
• In addition to the risks covered by property insurance - for example fire, explosion, natural calamities or theft, EEI insurance also covers human error, technological problems or malicious intent by third parties"
Why not give up the death insurance?,"
That would actually mean something like, my dear, if I die, you and our baby manage as best you can."
What clauses should the customer have in the life insurance?,"
Every customer should be encouraged to buy enough life insurance to cover the other major risks and then the minor risks."
Can I insure goods that do not belong to me (goods in custody)?,"
• Yes, provided you have a supporting document attesting to the presence of those goods in your company's premises"
Who needs life insurance?,"
• People need death insurance...
• People need death insurance...
• To sell life insurance you can appeal to feelings of care, affection and even shame
• For example, you can ask:
• What will relatives and friends say about you if you leave your family without money?
• In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him
• That's why you'll often hear “Why do I need life insurance? If they die, that's…”
• Life insurance is not for selfish people
• To sell life insurance you can appeal to feelings of care, affection and even shame
• For example, you can ask:
• What will relatives and friends say about you if you leave your family without money?
• In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him
• That's why you'll often hear “Why do I need life insurance? If they die, that's…”
• Life insurance is not for selfish people
• People need death insurance...
• People need death insurance...
• To sell life insurance you can appeal to feelings of care, affection and even shame
• For example, you can ask:
• What will relatives and friends say about you if you leave your family without money?
• In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him
• That's why you'll often hear “Why do I need life insurance? If they die, that's…”
• Life insurance is not for selfish people
• To sell life insurance you can appeal to feelings of care, affection and even shame
• For example, you can ask:
• What will relatives and friends say about you if you leave your family without money?
• In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him
• That's why you'll often hear “Why do I need life insurance? If they die, that's…”
• Life insurance is not for selfish people"
What do you think you do well (what works for you)?,"
• Tell, in 30-40 seconds, what are the things you consider you do well"
"How do you deal with the ""I don't need it"" objection?","
- A: I don't need it
• You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting)
- A: I don't need it
• Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will address. (propose the meeting)
- A: I have insurance
• Is OK. I expected you to have insurance. Many of my clients had insurance when we met, but found they were underinsured. In this case our discussion will be shorter and you will only gain from it. (propose the meeting)
- A: I have an agent
• Is OK. If we deduce that you have enough insurance, you will congratulate him. And if not, I will propose solutions that he did not propose. (propose the meeting)
- R: What the Lord will give, with good and bad...
• That's right... God gives us everything, both good and bad, as you say... And then it means that God also sent me to you today (proposes the meeting)
- A: I don't need it
• You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting)
- A: I don't need it
• Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will address. (propose the meeting)
- A: I have insurance
• Is OK. I expected you to have insurance. Many of my clients had insurance when we met, but found they were underinsured. In this case our discussion will be shorter and you will only gain from it. (propose the meeting)
- A: I have an agent
• Is OK. If we deduce that you have enough insurance, you will congratulate him. And if not, I will propose solutions that he did not propose. (propose the meeting)
- R: What the Lord will give, with good and bad...
• That's right... God gives us everything, both good and bad, as you say... And then it means that God also sent me to you today (proposes the meeting)
• Is it a real objection?
• Obviously not
- Do you need a house to live in?
- Do you need income?
- Do you need a car to get around?
- Do you need a source from which to cover unexpected payment obligations?
- Is risk a certainty in the life of each of us?
- Could producing a risk result in the destruction of the home, loss of income, destruction of the car, the appearance of payment obligations?
• The answer to each of these questions is ""Yes""
• And then it is obvious that every man needs insurance
• Not one policy, but several, which would provide him and his family with enough insurance
• So the objection ""I don't need insurance"" is a false objection
• It usually masks the objection of distrust"
Why is awareness of protection needs needed?,"
• Awareness of protection needs is needed because Romanians are not used to taking care of themselves
• If his home is destroyed, the Romanian expects the ""state"" to offer him another...
• In order to have a decent pension, the Romanian expects the ""state"" to offer it, without asking other questions, for example where the money comes from...
• And to escape from any trouble, the Romanian knocks on wood or says ""God forbid"" and considers himself protected
• The Romanian is not aware that risk is a certainty in our lives"
How can you present the savings plan for the child?,"
• The child will receive the amount of... lei at maturity, no matter what happens to you:
• May you be with him, and celebrate together
• Whether a misfortune took you away from your family
• In this tragic situation, your wife will receive, immediately, once again, the same amount that the child will receive at maturity (if the insured's death clause was attached)"
"How do you respond to the objection ""I'm not buying business insurance now""?","
• Do you agree that the risk exists?
• And that it is unpredictable?
• Imagine that it remains ""No""
• And that something is happening
• How will you justify this ""No"" in front of associates, partners, clients, investors, employees, wife, children?
• Last but not least, how will you look in the mirror the day after...?"
"How do you respond to the objection ""I'm looking for you to buy mixed life insurance""?","
• Not bad either
• From the point of view of saving
• But delaying presents a risk; a very big risk
• Do you know what I mean?
• It is about the risk of having an accident, and at that moment not having insurance
• Savings can start a little later as protection should start today
• Tomorrow may be too late…"
What is fund allocation?,"
• Fund allocation consists in determining the percentages of investment premium allocation in each of the three funds
• Example:
- 50% in the high risk fund
- 30% in the medium risk fund
- 20% in the low risk fund
• Fund allocation can change at any time
• Each insurer offers 1 or 2 free fund allocation changes each year"
How can unit linked policy performance be optimized?,"
• There are four methods of optimizing unit linked policy performance:
- Choosing a contract duration of at least 20 years, to reduce the investment risk
- Making additional payments when fund units are cheap
- Changing the fund allocation
- Buying a policy with the minimum staggered premium accepted by the insurer
• Making additional payments and changing the allocation of funds presuppose that the client is ""in phase"" for the entire duration of the contract
• Through these levers he can manage his investment
• Choosing a long term and a small premium are choices that are made only once, when the policy is issued"
Is the second claim on the EEI policy covered in full?,"
• The second damage can be compensated in full, if the insured has paid the premium difference requested by the insurer in order to complete the insured amount"
Where will the insurers get millions of Euros to pay after an earthquake?,"
• Where do insurers get money from, since their inception, centuries ago: from reserves
• And from reinsurance, especially in the case of large claims
• The insurance system is very well set up
• The proof is the fact that traditional insurers have been able to successfully overcome world wars, economic crises, natural calamities and others
• The insurer is your most loyal ally when trouble strikes you
• Please note this"
Who buys life insurance?,"
Life insurance is bought by responsible and altruistic people. A selfish person only cares about himself. From an adult who has a family, but who is selfish. Will you hear if they die, do they manage?"
What mistakes to avoid in the awareness stage?,"
• The need awareness stage is critical, especially with new customers
• Being, often, the first discussion with the client, he is curious, if not suspicious, regarding the intermediary
• The client tries to read you and realize, first of all, if you are a serious and reliable person
• Mistakes made at this stage have a high price: the future of the customer relationship
• If he assumes that you are not a trustworthy person, he will not buy from you; he won't give you his money
- Examples of common mistakes:
- You talk too much
- You listen too little
- Get rid of the ""hooks"" that the client offers you
- Present the products prematurely
• You fall into the trap of prematurely discussing price
• If the first conversation with the client is also the last, without having managed to sell him a policy, you have probably committed - and you - at least one of the above mistakes..."
How do you present the benefits of the child savings plan?,"
• When the policy matures, your child will receive the sum insured plus an additional gain
• You know better than anyone that raising and educating your child means money
• Money that now mostly comes from your take home paycheck every month, is that true?
• Throughout the duration of the contract, the child's growth and education, which are so important, are financially protected by the insurer
• How?
• If you disappear prematurely from the family life, the wife will receive in a few days the same amount of money that the child will receive when the policy matures
• This policy is extraordinary in that it insures both the present and the future of your child"
How do you present the 3 risk categories?,"
• The material stability of a family is based on three pillars:
- What he has: house, car, savings, business
- What they earn: salaries (or, as the case may be, dividends)
- Solvency, so not having to pay, accidentally, very large sums
• Do you agree?
• Do you agree that if you lose what you have, if you lose your source of income or if you end up with huge amounts of debt, family life will not be the same as it is now, but much harder? (persist until you get the client's agreement on this idea)
• This is probably the first time your client is being told about the risks and their consequences first, and not directly about the policies
• Whatever he thought of you before, after this talk he will definitely appreciate you
• If the customer will understand this concept, you have opened the way to sell them any of the insurances they need, but did not understand the point of until then
• Until then, there were probably only mandatory insurances and cheap insurances for the customer...
• From now on there will be necessary insurances
• Obligation and price will be on the second plan"
How can you approach a whiny and analytical customer?,"
• Some people understand that there are risks, independent of their will
• And responsible people buy various types of insurance to protect their families
• Others think they are safe and unconsciously take unnecessary risks
• Do you agree that no matter how much we want to, and no matter what we do, we cannot eliminate risk from our lives?
• Let's discuss the solutions I can offer you to keep your family safe!"
"What are ""hooks""?","
• ""Hooks"" are keywords from which you can deduce what the customer is concerned about
• ""Hooks"", uttered unconsciously, often express whatever is really important to the client
• If you link these ""hooks"" to the idea of ​​risk, the client will be much more willing to protect himself with insurance
• Your mastery will be to detect and take the ""hook"" and get close to a risk that worries the client"
How do you plan your activity if you can also work during the day?,"
• Take advantage of the ""windows"" you have at work to...:
- Calling prospects
- You prepare offers
- Issue policies
- Learn
• Be careful when meeting with clients; tuck them in between tasks at work or put them on in the evening
• It is mandatory to call customers with the agenda in front of you, to see when you have the ""windows""
• In the telephone approach, when you propose the meeting, you can say like this:
• ""I have a window today between 10 and 11; is that okay with you?""
• If the answer is ""No"", then be prepared to continue:
• ""Then I could tomorrow at 2pm; is that all right?""
• It will help you a lot to specialize in online communication; online you can communicate anytime and from anywhere
• Braino provides you with online communication templates for all stages of the sales process"
How can you ask for referrals?,"
• Recommendations are a good source of customers, because they present two advantages:
- You have access to people who would otherwise be practically impossible to reach
- It relies on reliable transfer
• If you feel uncomfortable asking for referrals, you probably don't have enough confidence in yourself yet - so here's your work
• Like enough assurance, enough confidence is gained over time, and you have to move in that direction with small, sure and steady steps"
The building is made of concrete and iron; what will happen to him?,"
• Have you heard about the Grenfell Tower fire in London?
• What about the fire at the Prosper complex in Bucharest?
• What about the fire at the Frigoglass factory in Timiș?
• Concrete and iron buildings turned into ruins due to fires
• Continue with the aftermath of the earthquake?
• No human construction can withstand calamities
• But humans have invented an ingenious solution to get them out of the impasse
• And this solution is called ""insurance""
• And it is intended for wise and prudent people"
What to answer when the client says that he prefers to put the money in the bank?,"
How much money do you have in the bank today? So, after years of work, if you have an accident, leave your wife and children the amount of this much lei. This is true. If you take out death insurance from the day the policy comes into force, the insurer sets aside the sum assured specifically for your wife and children."
What types of buildings are there?,"
• The typology of the building is established according to the resistance structure and the material of the walls
- Reinforced concrete structure, brick walls
- Reinforced concrete structure, sandwich walls
- Metal structure, sandwich walls"
What are the major risks?,"
• Death
• Total permanent disability
• Serious illnesses
• If you insist on medium risks, you risk hearing an objection like ""Let it go, I'll find 2-300 lei there for a hospital stay...""
• To sell additional clauses, highlight the major risks, which can generate expenses of thousands or tens of thousands of Euros"
Why are customers looking for you?,"
• Customers look for you because of your reputation
• This is the ideal of every intermediary: to be sought by so many customers that he earns well enough and does not have to prospect
• If you observe the middlemen who earn a lot of money, you will find that most of their time is spent talking to clients and issuing policies, and not looking for clients
• Some of these intermediaries hire a personal assistant to take care of routine work such as issuing compulsory and popular policies and collecting installments"
Why would I buy travel insurance if I can get the European card for free?,"
Travel insurance offers you much better protection because it has more complex coverages and higher sums insured. It can be valid worldwide, it is valid in both public and private hospitals. The European card only covers medical emergencies In state hospitals, where waiting times are long and often settlement is made with a co-payment. That is, the insured must pay part of the medical services."
If the insurer leaves the country?,"
• If an insurer leaves the country - as has happened in a few cases - it sells its portfolio to another insurer
• The new owner of the company keeps the terms of the insurance contracts in force"
I don't think I will suffer anything abroad.,"
Honestly, I don't think so either. Even the people I compensated didn't believe it until it happened to me, and then they couldn't believe how lucky they were to have insurance."
What is the role of the unit linked policy for a family?,"
• The unit linked policy has a double role:
- Family protection in case of premature death
- Making a profit, in the long term
• Investment specialists give the following advice:
• Only invest as much as you can afford to lose"
For what risks can electronic devices be insured?,"
• Examples of risks covered by the EEI policy:
- Fire or explosion
- Damage caused by water coming from installations or from nature
- Natural calamities
- Natural phenomena (eg storm, hail, avalanche)
- Theft
• plus the following specific risks:
- Acts of people (eg negligence, incorrect handling)
- Bad intent on the part of third parties
- Technology (eg material defects or overvoltages)"
What happens to the money paid by the customer for the unit linked policy?,"
• Part of the insurance premium is spent (risk fund, commissions, medical tests, correspondence, prints, FGA tax), and part is invested in investment funds
• The investment premium is used to buy fund units"
What can you post on social media?,"
• Something to represent you
• Which outline your personality
• To convince someone who doesn't know you yet to want to know you"
How do you present your home insurance?,"
• This policy allows you to buy a new home, with comparable parameters and the same level of comfort, if the current one is destroyed
• It also gives you money to repair or replace damaged or stolen goods
• Moreover, any damage caused to your neighbors – for example, if you flood them – will be paid by the insurer, instead of you"
What are the basic risks covered by travel insurance?,"
Emergency medical expenses in case of accident or acute illness, including for Covic infection for consultations, medicines, prostheses, orthoses, glasses, hospitalization, surgical interventions, dental emergencies, transport by road ambulance. Taking over of the insured by the first aid services, medical repatriation expenses or in case of death."
How do you size life insurance with savings?,"
• A life insurance with savings is sustainable in the long term if the insurance premium falls within the range of 5...8% of income
• If the client asks you why it is ""so expensive"", explain that, whatever happens to him, the money goes back to the family
• What is not known is only the moment…
• When sizing life insurance with savings, you start from the available premium, because at the same insured amount. the policy is more expensive than the death policy
• Not everyone can afford to save
• A life insurance with savings is sustainable in the long term if the insurance premium falls within the range of 5...8% of income
• If the client asks you why it is ""so expensive"", explain that, whatever happens to him, the money goes back to the family
• What is not known is only the moment…
• When sizing life insurance with savings, you start from the available premium, because at the same insured amount. the policy is more expensive than the death policy
• Not everyone can afford to save"
What happens to the child's policy if the insurer goes bankrupt?,"
• Bankruptcy of a serious insurer is unlikely
• If, however, it does, then you are paid the surrender value on the date of bankruptcy
• The redemption value is paid...
- From the insurer's reserves, if they are sufficient
- From the Insured's Guarantee Fund, if the insurer's reserves are insufficient
• So whatever happens, you get back the surrender value, specified in the contract"
How do you present the unit linked policy?,"
• If you are willing to take a risk, you can invest some of your savings in the unit linked policy
• The insurer will invest your money in the funds you choose - riskier or less risky - and at the maturity of the policy you will receive the amount resulting from the investments
• You can reduce the investment risk through a long investment duration of over 20 years
• You will also be able to invest any additional savings that occur during the contract
• I recommend making additional payments when fund units are cheap"
What are fixed expenses?,"
- Utilities (partly)
• Fixed expenses from those expenses that must be carried out in any conditions and are not related to the level of production:
- Wages
- Depreciation
- Bank rates
- Insurance premiums"
What is the role of the savings plan for the child?,"
• The policy guarantees the child that he will receive the insured amount at maturity, either if the parent is with him, or if a tragedy snatched him from the family life prematurely"
How do you present the benefits of home insurance?,"
• This policy allows you to buy a new home, with comparable parameters and the same level of comfort, if the current one is destroyed
• The policy gives you money to repair or replace damaged or stolen property
• Damage to your neighbors – for example, if you flood them – will be paid by the insurer instead of you
• If a disaster occurs and you are insured, a new home costs you 100 Euros
• Without insurance, a new home costs you 100 thousand Euros
• With approximately 2 lei per day you insure your home
• And dignity in the eyes of the family, if a tragedy occurs"
Can the death policy be amended?,"
Yes. Most insurers accept anniversary policy changes. If you want to increase the insured amount, the insurer will ask you to complete a new medical questionnaire."
How does the purpose of the trip influence the insurance conditions in terms of the purpose of the trip?,"
There are the following categories, according to which the insurance premium is calculated. Tourist for business work or for studies."
How can you handle customers in a hurry?,"
• Always on the run... always with the phone in hand... always between two meetings
• You have car insurance (example), but neither your home nor your income are insured (and neither is your business, as the case may be)
• 10 minutes of conversation can make the difference between a good life and a life full of problems
• Is the family worth 10 minutes of your time?"
What does material comfort mean?,"
• It primarily means that the family has a sufficiently spacious and well-equipped home so that the family members feel comfortable in their home
• For most families, material comfort also means a personal car
• Any family wants to put money aside and use the savings to purchase goods, for trips, for home renovation or for medical treatments
• Even if you have a decent income, even if you have no payment obligations, but if your home was destroyed, which can be worth tens of thousands of Euros, the well-being of the family will be seriously affected"
How much money do I get in the event of a claim?,"
• If you take out the policy correctly, based on my recommendations, then in the event of a claim you will receive the amount necessary to remedy the damage, so that your situation after compensation is as close as possible to the situation before the occurrence of the risk"
What does it mean for a family to be financially secure?,"
• A family is financially secure if:
- There is material comfort (housing, car, savings)
- There is a decent and stable income, from salary, commission, or from a business
- The family is solvent
• Whatever may befall"
How do you handle objections to the telephone approach?,"
• The telephone conversation is a stage prone to objections; why?
- Romanians disregard insurance
- The client doesn't know you
- Your call may drop at an inopportune moment
• Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks
• ""You don't make spring with a flower"", and you don't make a portfolio with a phone...
• The development of the ability to solve telephone objections is strongly influenced by the volume of approaches; only hundreds of approaches will make you master this activity
• BrainO is a good trainer, but he can't play for you
• The telephone conversation is a stage prone to objections; why?
- Romanians disregard insurance
- The client doesn't know you
- Your call may drop at an inopportune moment
• Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks
• ""You don't make spring with a flower"", and you don't make a portfolio with a phone...
• The development of the ability to solve telephone objections is strongly influenced by the volume of approaches; only hundreds of approaches will make you master this activity
• BrainO is a good trainer, but he can't play for you"
What happens to the savings plan in the event of the insured's death?,"
• The savings plan for the child includes the clause of exemption from the payment of premiums in the event of the death of the insured
• This means that, in the event of the death of the insured, the insurer takes over the payment of the premiums, and when the policy matures, the child receives the same amount of money
• The automatic inclusion of the exemption clause from the payment of premiums in the event of the death of the insured is a major advantage of the savings plan for the child
• However, optimal protection is offered to the child by the policy which contains, in addition to the savings plan for the child, two additional clauses:
- Death of the insured
- Exemption clauses from the payment of premiums in case of invalidity of the insured
• In the modules of BrainO, you will find this set of covers under the generic name ""saving package for the child""
• The savings package for the child is the ideal tool for ensuring the future of the child, from a financial point of view, both in good times - the insured lives, is healthy and earns money - and in bad times - the insured person dies or becomes disabled and unable to work
• Theoretically, every parent who has a child of preschool age, and average income or above, should buy a savings package for the child
• A better performing financial instrument, for the child, does not (yet) exist, at least in Romania"
What is the difficulty of approaching strangers?,"
• You have to know how to do it
• That is, to be able to conquer a stranger and then ""tear"" a policy from him"
How do you get the information to quote your home insurance?,"
• How much money would you need today to build or buy a home like yours?
• How much are the goods in your home worth? (recommendation: 3,000...3,500 Euro per room; for example, with three rooms, the contents are worth around 10,000 Euro)"
"How can you make the client aware through ""360° risk analysis""?","
• It is about asking the client the awareness questions specific to the ""three-legged table"" concept
• Through this method you can make him aware of all the risks to which he is exposed, both the client and his family
• You can use this method when you master the questioning technique
• If you want to learn to use the questioning technique, you must - yes, you must...
- ... to learn the questions by heart
- ... to understand the purpose of each one
- ... to practice them
- And only then use them
• You will find that, slowly, over time, the number of policies per client increases significantly
• Your customers will be better insured
• You will earn more and more money
• The roots of work are bitter, but its fruits are sweet
• Why is it harder to ask than to tell...?
• When you tell a story, repeat what you already know
• When you ask, you have to think…
• That's why consultative selling, based on awareness through questioning, is a tool for true consultants"
How can you use public meetings?,"
• Meetings are great opportunities to make yourself known and get new names
• Various exhibitions, conferences, symposia, congresses, seminars, job fairs, etc. are organized in the cities
• The organizers are the Association of Business People, the Chamber of Commerce, the College of Doctors, the Union of Architects, ANEVAR, the Union of Public Notaries, the town hall, universities, various youth associations, various NGOs and many others
• Try to join as many professional and business organizations as possible and follow the calendar of activities
• Try to give and especially get as many business cards, leaflets, brochures, presentation folders and any other materials from which you can get information.
• Try, especially in the case of professional meetings (e.g. doctors, architects, notaries, accountants) or businessmen, to make a short thematic presentation
• For example, if you attend a meeting of business people, you can make a presentation on the topic ""Why insure your business?""
• The actual presentation can be made on slides and should not last more than 5...10 minutes
• At the end you can organize a question session, which also must be within a maximum of 10 minutes
• You can also use a personal presentation roll-up, which you can place next to you, in front of the audience
• BrainO can help you prepare short thematic presentations
• Keep in mind a major advantage of this way of prospecting: there are no constraints given by the GDPR!"
What are the critical elements of a manufacturing business?,"
• A manufacturing business usually takes place in a factory, hall or workshop, so the critical elements are:
- The building
- The means of production (machinery, equipment)
- Stocks of raw materials and finished products"
What is a unit linked policy?,"
• Unit linked is a life insurance with an investment component
• The specificity of this policy consists in a higher expected return
• To benefit from this advantage, the insured accepts to assume the investment risk"
How do I answer questions about the child savings plan?,"
• To be more convincing, before answering the client, you can ask him a question about what you have already explained
• Involving the customer in the discussion will make them better understand the benefits of the insurance
• Whatever the client asks, your answer must relate to two major aspects:
- Death protection and
- Guaranteed savings, including in the event of the parent's death"
What stages does the customer go through in the awareness process?,"
• First stage - ""I ignore the risk because I am sure that nothing can happen to me""
• The second stage - ""The risk exists, but I don't think I will suffer something myself""
• The third stage - ""The risk exists, but if it occurs, then I find a solution on the spot""
• Fourth stage - ""I am concerned about this risk and need to protect myself""
• Most Romanians are in the first stage
• Your role is to ""push"" the client to the fourth stage
• This pathway is called awareness of insurance needs
• Attention!
• Protection needs exist, they are objective, regardless of the client's perception
• Why?
• Here is an example:
• Everyone needs a home, right?
• Yes
• Is there a risk that the home will be destroyed?
• Yes
• If the home is destroyed, will the client and his family need a new home as soon as possible?
• Yes
• Other than insurance, where can you get a large amount quickly?
• Out of nowhere
• So does the client and his family need home insurance?
• Yes"
"If I do the repairs myself, am I compensated?","
• Yes, you can be compensated, provided you agree with the insurer in advance on the price of the repairs, and especially on the labor"
"How do you resolve the objection ""I already have an agent"" or ""I already have insurance""?","
• I understand you and I can only congratulate you
• But... there's no way he's as good as me, your agent... (smiles)
• But it's OK
• It was a pleasure to meet you
• Please keep my business card
• You never know…
• And anyway, if you have any questions that your agent doesn't have an answer to, please call me"
Can cars be insured over 10 years?,"
• In general, no
• There are exceptions, but the written consent of the insurer is required to offer and issue the policy"
"How do you find out the real objection by the ""shut up and find out"" method?","
• The client nods implicitly; it is clear that something is bothering him
• What the?
• Shut up and wait
• If you're patient, it's possible that at some point the customer will say something like:
- ""Who the hell can you trust anymore? Can't you see I'm going bankrupt one after another?"" (so the objection is disbelief)
- ""Why should I spend money on insurance? This block is rubbish, it didn't even have an earthquake"" (so the objection is the lack of need)"
How can you search for customers?,"
• Searching for customers is a laborious process and should be constant
• The period we are going through offers both advantages and disadvantages
• Advantages: communication is greatly facilitated by the level of development of communications, the Internet is an inexhaustible source of information
• Disadvantages: GDPR regulations impose restrictions on access to natural persons
• Knowing these things you can build an effective personal prospecting strategy
• What methods can you use to look for new customers?"
What information do you require to offer the additional clauses?,"
• Start the discussion from protection needs, i.e. from the cost of treatment in serious situations and continue with medium risks
• If you go with the average risks, the client will say that he will always find a few hundred lei for some medicine...
• Avoid discussing price at this stage"
Is casco insurance valid if the driver is drunk?,"
• Depends
• If the car was stolen and the thief drove the car while drunk, the insurer will pay the compensation and take recourse against the thief
• If the car was driven by a drunk driver, but with the consent of the insured, the policy will not produce effects"
What fixed and additional costs will the insurer cover?,"
• The insurer will compensate:
- The cost of cleaning and fitting out the damaged premises
- Moving costs to and from the new premises
- Utilities from the new headquarters
- Dismantling the damaged machine
- Transport, installation and testing of the new machine
- Wages, including overtime
- Bank installments, insurances
• During the period of business decline, the expenses, fixed plus additional, were:
- In the first 7 months, in which the company operated at the new headquarters, with the rented equipment, expenses were 45,000 Euros
- In the last 2 months, in which the company operated at the old headquarters, after replacing the machine, expenses were 15,000 Euro"
Why is it good to introduce the purpose of the discussion?,"
• Customers usually expect an insurance broker to start raving about their products - which are obviously the best - and their prices - which are obviously the lowest
• To refuse him, for various reasons...
• If you state the purpose of the discussion, you will surprise the client and at least he will become more curious to listen to you
• Which means a step forward"
What is the maximum age of the appliances that can be insured under the EEI policy?,"
• The maximum age is 5 years, when the first policy is issued
• Some insurers accept policy renewals until the devices are 10 years old, if there has been no damage"
"How can you ""warm up"" the relationship through online communication?","
• Alternatively, you can start sending with a reasonable frequency - for example once a month, and only with the client's consent:
• BrainO may periodically provide you with messages to send to customers
• Attention:
• Don't forget the GDPR
• To prevent complaints from difficult customers, ask for their consent before you start messaging them
• But:
• If you're the type who starts today and quits the day after tomorrow, there's no point in trying
• One flower does not make spring
• If you send one, two or three messages, you will not be able to ""screw"" it into the customers' minds
• The combination of rhythmicity + interesting messages will get you what you want: every time a customer thinks about the idea of ​​insurance, the first thought will be of you
• Remember: one message per month
• Each month
• Years from now"
How much money can I lose?,"
• Please note that for the duration of the contract, you only lose money if you cancel the policy when the units are cheap
• If you mean when the policy matures, there is no answer to this question
• Only on the day the policy matures will you know how much money you have in your account"
Can cumulative benefits be paid?,"
• Yes
• If an event is covered by more than one clause, benefits will be paid based on each clause"
What amount does the insurer pay in case of termination of the child savings plan?,"
• The surrender value is the amount received upon termination
• The redemption value is a percentage of the guaranteed accumulated amount (mathematical reserve)
• Terminating policies and obviously receiving a lower amount than what was paid is one of the main reasons for customer dissatisfaction
• Be prepared to deal with this topic
• Termination of the policy means breach of contract
• In order to pay the client the money due, the insurer must liquidate some investments
• This involves a cost, which is borne by the insured"
What is compensated in case of damage?,"
• In case of damage, based on the business interruption clause, the following are compensated:
- Fixed costs (salaries, installments, insurance premiums)
- The additional costs necessary to restart or continue the activity (for example, moving, renting equipment, overtime, etc.)
- Net profit"
Who can you sell other policies to more easily?,"
• Customers who, in addition to the fact that they still do not have enough insurance, you have a very good relationship with them, so ""warm"" customers"
"How do you respond to the objection ""I don't have money for joint life insurance""?","
• I understand that you have other priorities
• How do you usually go about it, spend and then save if there is anything left, or do you save regularly?
• Because another indirect advantage of saving through life insurance is discipline
• Once you start saving, the insurer periodically reminds you to put money aside
• And the final benefit is the family"
Do allowances paid affect saving?,"
• Not
• Protection and saving are independent of each other
• No matter what allowances were paid to the insured during the contract period, if he is alive at the maturity of the policy he will receive the amount specified in the contract"
What amount does the insurer pay in case of termination of the unit linked policy?,"
• In the event of policy termination, the insurer will sell all existing fund units in the customer's account
• The penalty percentage specified in the contract will be applied to the resulting amount, and the resulting amount will be paid to the client
• Instead of canceling the policy, a partial withdrawal can be made if the client's family urgently needs money
• The worst time to cancel the policy is when the units are cheap
• It is like selling the currency you have saved exactly when the Euro is the cheapest
• You will obviously lose"
What part of the insurance premium is invested?,"
• Part of the insurance premium is represented by the costs related to the policy (for example the risk premium, commissions, medical tests, FGA tax, correspondence, printing)
• Part of the insurance premium is invested; this part is called investment premium
• Little is invested in the early years because there are high expenses
• For this reason, if the insured terminates the policy in the first years (for example in the first three years) he does not recover any of the money paid; it is good to tell the customer this, so that they do not confuse the savings plan with a bank deposit...
• Starting from the fourth year, the investment premium represents an increasing percentage of the insurance premium, reaching values ​​of 90-95% in most of the contract
• To the question ""Well, isn't all my money invested, like at the bank?"", the answer must be:
• We are not talking about a deposit, but about insurance, and protection has a cost
• Because the policy covers two risks – death and survival, the customer pays for each of them
• And the money for the risk of death is not returned"
"What to do so that you don't lose sight of the ""hooks"" that the client offers you?","
- To think and extract the really important information from everything the client tells you
- To develop your ability to transform the client's ideas into insurance needs
• Concretely, it means to constantly run the following question in the mind:
• How can I convert this idea into an insurance need?
• This skill develops through practice and concentration
• That means talking to hundreds of customers
• It means to have your mind there, at the customer, and not elsewhere
• BrainO gives you examples of possible ""hooks"" that you can use to track down the actual ""hooks"" your customers are giving you"
For a claim covered by the EEI policy do I have to present the invoices for the appliances?,"
• Yes"
What documents and information are required to issue the casco policy?,"
- Identity card or CUI
- Receipt (front / back)
- Vehicle ID card (front / back)
- License (front / back)
- The number of kilometers on board
- Risk inspection
• For new vehicles:
- The bill
• For second-hand vehicles:
- Proof of making RAR"
Can I cover the repair with new parts?,"
• It depends on the option chosen as coverage
• Each insurer has a different policy on this, but most insurers cover repair with new parts"
How to behave to increase your reputation?,"
- Speak civilly
- Dress decently
- Be respectful
- Listen
- Keep your promises
- Constantly analyze yourself and try to be a little better tomorrow than today"
What is EEI insurance?,"
• EEI is an ""all risk"" insurance for electronic equipment"
What can be the consequences of business interruption?,"
• Sudden loss of income due to cessation of production or cessation of services
• Loss of strategic customers, especially in case of exceptional stock shortages
• ""Leakage"" of key employees, respectively experts and singular specialists
• Loss of image – a company ""on the rocks"" loses its attractiveness, both for customers and for partners or potential investors"
"If I suffer something serious and need to be hospitalized even after the policy expires, am I covered?","
Yes, hospitalization expenses will be covered up to a maximum of 4-6 days, depending on the insurer. After the policy expires, the cost of transportation back to the country for an adult companion is also covered. If it is a minor."
How long is the compensation period?,"
• The compensation period begins with the occurrence of the insured event
• The compensation period will end when the first of the following two situations occurs:"
What is the role of additional clauses for a family?,"
• Additional clauses have several roles:
- Provides additional protection to the family in case of premature death
- Provides the insured with money for treatment in case of serious illnesses or in case of disability
- Gives the insured money for treatment in case of less serious health problems"
How is the content insured amount determined?,"
• The sums insured for contents are determined according to the type of heritage assets:"
What types of vehicles can be insured through the casco policy?,"
- Wheeled self-propelled vehicles
- Towed vehicles (trailers, semi-trailers, caravans, etc.)"
"How do you use the ""golden questions""?","
- Which of these risks worry you the most?
- Why did you think of this one?
- What consequences would it have on the family?
- Do you have insurance for this risk?
- If there was a solution to remove the consequences that worry you, would you be interested?
• (if you say the right words, in the right tone, with the right look, and at the right time, you will see how the client's shirt collar starts to tighten... you have managed to put him on fire)
• What will the client tell his wife after the discussion with you?
• He will probably say something like:
• This agent is really good
• Made me realize some things
• Know that I will make another insurance
• Bingo!
• These questions are called ""golden questions"" not by chance
• They ""twist the knife in the wound"", i.e. they make the client aware of the major risks to which he is exposed"
What medical expenses are covered?,"
• Medical tests
• Drugs
• Glasses
• Prostheses and orthoses"
How is account value calculated?,"
• The account value is calculated by multiplying the number of fund units by the value of one fund unit
• At some point:
• There are 2,705.11 fund units in the client's account
• The value of a fund unit is 17.62 lei
• The value of the account is: 2,705.11 x 17.62 = 47,664.03 lei
• Explain to the client that with investments of this type fluctuations are natural and not to panic
• ""He who cannot control his emotions will not be able to control his money"" (Warren Buffett)
• The value of the account fluctuates daily, depending mainly on the fluctuation of the value of a fund unit"
What total amount did the insured collect under the policy?,"
• Based on the insurance policy, the client received compensation from two sources:
- 65,000 Euros, representing the value of the destroyed equipment and the cost of repairing the building affected by the fire; the insured would have received this amount even if he had bought the ""empty"" SME policy, without business interruption insurance
- 74,250 Euros, representing the amounts needed to restart the business and reach the turnover before the occurrence of the insured risk, based on the business interruption clause
• Total compensation paid to the insured = 139,250 Euros"
What exclusions does the casco policy contain?,"
• Excluded risks differ between insurers, but there are common exclusions such as:
- Damages incurred in circulation outside the validity of the ITP
• Driving without a license or during the suspension period, under the influence of drugs or alcohol
• Bad intent or gross negligence
• Damage caused by simple combustion, not followed by fire
• Simulated or exaggerated damages as well as intentional acts
• Nuclear risks, war, trade sanctions or intentional acts
• Pre-existing damage
• Additional equipment brought to the vehicle that have not been declared and/or are not approved
• Deductibles (cannot be insured with another insurer)"
What other clauses can be attached to life insurance?,"
Ask what other events could lead to an unexpected increase in expenses and possibly even a loss of income."
What information do you require to offer SME insurance?,"
- the CUI of the company
- Full address
- Year of construction
- The constructive structure, according to the insurer's specifications
- The surface
- Neighborhoods (N, S, E, W)
- Field of activity
- Protective means
- Owner / tenant
- Amount insured on the building
- Amount insured for contents"
What information do you require to offer the child savings plan?,"
- What is your salary?
• Or the alternative: in which range are your incomes?
- How old are you?
- How old is the child?
- At what age do you want the child to receive the money saved (18...25 years old)?
- What amount do you want to save, annually (I recommend 5...8% of income)?
• Try to propose a percentage of 7...8% of the income to begin with
• After you have obtained a level of the available premium, you can add with the question: ""Do you agree to put the allowance?""
• Avoids the question ""What amount do you want the child to receive at maturity?"", because clients do not have the knowledge to correlate the insured amounts with the costs and may ""jump"" at exaggerated amounts"
How do you present additional clauses that provide allowances?,"
• Additional clauses can compensate for the drop in family income if you die prematurely
• Additional clauses also give you money for treatment and protect your savings"
"What does it mean to be solvent, i.e. to have no accidental payment obligations?","
• It means having a sufficiently consistent source of money so that a possible payment obligation, even in the order of thousands or tens of thousands of Euros, is covered
• Even if you have material comfort, even if you have a decent income, but if your family will be forced to pay large sums of money, the family's well-being will be seriously affected"
What are the average risks?,"
• Less serious illnesses or accidents, followed by:
- Surgery
- Hospitalization
- Fractures
- Burns
- Temporary incapacity for work"
When does the sale need to be completed?,"
• When the customer is about to buy, but hesitates to say so
• How do you know that the customer is about to buy?
• The customer is one step closer to completing the sale when they send buy signals, ie…
- ... ask concrete questions about the policy (what coverage it contains, how it is paid, how to proceed in case of damage, how to proceed with renewal, etc.)
- ... browse the insurance offer and conditions and ask for explanations
- So it's time to ""push"" the sale"
"If I run out of money on a clause, can I still be compensated?","
• During the year in which your allowance was paid, no
• But at the beginning of the next insurance year, the clause will be ""refilled"", so you will be able to be compensated again, if necessary
• The exception is the insurance for serious illnesses, which, if you have used up, its effects cease"
Is casco insurance valid without a license?,"
• Depends
• If the car was stolen and the thief drove the car without a license, the insurer will pay the compensation and take recourse against the guilty party
• If the car was driven by a driver without a license, but with the consent of the insured, the policy will not produce effects"
Why do people with credit need life insurance?,"
• In case of premature death, the balance of the loan will be paid by the insurer
• The beneficiary of the insurance is the creditor (e.g. the bank)
• If the sum insured exceeds the balance, the family will receive the difference
• In case of premature death, the balance of the loan will be paid by the insurer
• The beneficiary of the insurance is the creditor (e.g. the bank)
• If the sum insured exceeds the balance, the family will receive the difference"
Am I refunded the VAT I paid if the stock is destroyed?,"
• Not
• In case of destruction of the goods, you have the right to recover the VAT you paid"
Under what conditions can the casco policy be terminated?,"
• There are two situations:
- Termination (termination) is requested by the client
• It can be unilateral, with a predetermined notice period
• It can be through the alienation of the insured object
• May be in case of total loss
- Termination (termination) is requested by the insurer
• It can be unilateral, with a predetermined notice period
• By termination due to non-compliance with the obligations assumed by the contract (non-payment of premiums or essential change in the circumstances regarding the risk – for example switching from private use to taxi)
• Note: according to the latest ASF regulations, the term ""termination"" has been replaced by ""termination"" and ""cancellation"" by ""dissolution"""
How is the insured period determined?,"
• The insured period is determined according to:
- The existence of alternative headquarters for moving the activity
- The existence of spare machinery
- The time required to repair or replace production machinery
- The existence of stocks of raw materials
- Estimation of the time required for customer recovery"
"How do you answer the objection ""I don't need joint life insurance""?","
• Do you usually put money aside?
• This special product ensures the payment of a certain amount, at a certain time; it can be a beautiful moment or it can be the worst moment in your family's life
• There is no other financial product that offers this double benefit: whatever happens to you, good or bad, the same amount of money enters the family
• With the other insurances, if there were no damages, the money is lost"
"How do you respond to the objection ""I don't have money for accident insurance""?","
• With all due respect... do you allow me to disbelieve you?
• It is impossible not to be without the amount of... lei
• Because if you don't accept this small loss now, you may be forced to accept a loss thousands of times larger
• Treatments are expensive
• And your wages are priceless..."
If I have several premises how can I insure them?,"
• Most insurers will require each premises to be insured under a separate policy"
How do you deal with objections that never stop...?,"
- A: No... No... No...
• Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed?
- R: Leave it, you don't care about me... you care about your commission
• Frankly, I, with or without a policy, am neither richer nor poorer... but your family, without the right policy, can become very, very poor... (proposes meeting)
- A: I said NO!
• Is OK. I will give up, at least for now. Please tell me, do I have your consent to come back with a phone in 3 months?
- Once a month I send clients interesting information in the field of risk. Would you like to receive them too? If you like them, you can also send them to your friends. If not, you can unsubscribe
• A customer lost today is not necessarily a customer lost forever
• The client who turned you down today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about people suffering... there may be a fire near the home... etc.
• Any information about a risk will be associated in the customer's mind with who you are and what you said on the phone
• What did you say to him on the phone?
• That risks can occur at any time and that it would be good to insure
• On your next call he will accept the appointment
• Or he will call you himself, earlier
• An insurance intermediary must be present in the life of every family
• Must have a discreet but constant presence
• Because risks are also present throughout life
- A: No... No... No...
• Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed?
- R: Leave it, you don't care about me... you care about your commission
• Frankly, I, with or without a policy, am neither richer nor poorer... but your family, without the right policy, can become very, very poor... (proposes meeting)
- A: I said NO!
• Is OK. I will give up, at least for now. Please tell me, do I have your consent to come back with a phone in 3 months?
- Once a month I send clients interesting information in the field of risk. Would you like to receive them too? If you like them, you can also send them to your friends. If not, you can unsubscribe
• A customer lost today is not necessarily a customer lost forever
• The client who turned you down today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about people suffering... there may be a fire near the home... etc.
• Any information about a risk will be associated in the customer's mind with who you are and what you said on the phone
• What did you say to him on the phone?
• That risks can occur at any time and that it would be good to insure
• On your next call he will accept the appointment
• Or he will call you himself, earlier
• An insurance intermediary must be present in the life of every family
• Must have a discreet but constant presence
• Because risks are also present throughout life"
What is franchising and how does it work?,"
• The deductible is that part of the damage for which the insured remains his own insurer (in other words, he pays it out of pocket)
• By introducing the deductible, the aim is to increase the insured's interest in the insured asset and the existence of a correct attitude towards risk
• Plus the casco policy is not a vehicle maintenance policy...
• There are mandatory deductibles (for example, in the case of insured natural persons under a certain age, those with a rich claims history, etc.) and optional deductibles, which can be avoided by paying an increased premium
• Usually, in the case of partial damage, the excess is paid directly at the service, when the car is picked up"
How do you introduce joint life insurance starting with protection?,"
• Throughout the duration of the policy, starting from the first day, your life is insured; if you die prematurely, your loved ones will immediately receive, in advance, your salaries for... years
• If you will be with your loved ones when the policy matures, receive the sum assured and enjoy with them
• It is important to remember that whatever happens to you, the same amount of money goes into the family"
What role does death insurance policy play for a family?,"
Death insurance replaces the insured's income in the event of premature death. This amount is mostly received by the descendants."
How can you streamline claims assistance?,"
• First of all, each customer must know what rights and what obligations they have in case of damage
• It will be inconvenient for the client and uncomfortable for you too if the client is asked for various documents, photographs, statements, minutes, etc., one after the other, instead of all these things being requested from the beginning
• For this to happen, make lists of all the documents that are required for the claim, for each type of policy, at least for the usual risks (for example car accidents or damage to the water installations)
• Then make some mockups yourself to send to customers who have had a claim, and text them a few minutes after you've been notified
• Customers will appreciate your gesture
• Remember: in order to sell the policy, you made some promises to your client, which he believed
• After all, the time has come to honor your promises
• A satisfied customer pays his installments
• A satisfied customer renews his policy
• A satisfied customer buys other policies
• A satisfied customer recommends you
• A satisfied customer puts money in your pocket, year after year"
How can you use social media?,"
• Social media will not produce an explosion of sales
• But if you post consistently, and the posts are quality, they will bring you customers
• You will find something gratifying: the completion rate of requests on social networks is almost 100%
• The explanation comes from the fact that those who contact you as a result of your posts trust you and appreciate you as a professional"
What role does the SME policy have for the insured's family?,"
• The complex IMM policy, which covers property damage, business interruption, and civil liability, simultaneously protects the family's property, savings and income, in the event of an insured risk occurring
• For a family that owns a business, especially if the family lives from the business, the SME policy is an important pillar of support for the family's well-being and material security"
How do you get the information to quote accident insurance?,"
• I thought of a solution based on the income I know (or assume, as the case may be) you have and similar situations I've encountered
• And, of course, the compensation that other customers have received
• Tell me, is the amount of... in case of..., enough, or do you need more money, in case of an accident? (list all coverages in turn, starting with those that cover the major risks)"
What impact does duration have on unit linked policy performance?,"
• Between 1925 and 2018, i.e. almost a century, whoever invested in the stock market for at least 20 years, obtained a maximum return of 19%, a minimum return of 3% and never lost"
If I lose my documents during the trip. How does travel insurance help?,"
If a clause for theft, loss or destruction of documents is included in the policy, you will be covered for the cost of issuing new documents by the embassy or consulate of the country where the event took place, including the cost of transport, if applicable. A written document from the local authorities certifying the event will be required."
What is the well-being of a family based on?,"
• Think about your family
• The well-being of any family living in a civilized society depends on three factors (pillars):
• Whichever of the three factors is missing, family life is severely affected"
"How do you respond to the objection ""I'm not buying accident insurance now""?","
• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again
• I could tell you several cases of families who came, destroyed, to open a claim... but they are too gloomy to ruin your day with them"
How to proceed in the event of a risk covered by the policy.,"
The insured or another person must call the emergency number in the travel policy, which is operational 24/7, from where they will receive the necessary instructions depending on the event. If the event is not announced immediately, expenses will be covered up to 1,1500 euros, depending on the insurer. If the insured is unable to notify the assistance company, for example in the event of a serious accident, the event can be notified by another person, for example a relative or a doctor."
"How do you deal with the objection ""Insurance? Nooo...!""?","
• I understand you
• It's a reaction I expected
• I wanted to propose that we get to know each other and tell you briefly what I do, and only if you are interested, then let's deepen the discussion
• What do you say?"
What are the main exclusions?,"
• The EEI policy does not insure:
- Normal wear and tear
- Consumables (eg fuses, batteries, filters, belts)
- Various types of tools (eg knives, drills, cutters)
- Electronic tubes
- Gross fault, gross negligence or intentional risks"
"If I have another life insurance policy with similar terms, will I get money from both policies?","
• Yes
• You can have as many life insurances as you like, and you will be compensated by each one separately, if there are the same clauses in the policies
• Human life cannot be valued, as is the case with goods or property"
What are the additional risks covered by travel insurance?,"
Additional coverages may differ between insurers and have insurer-specific sums insured. The most common are the following. Travel cancellation cover. The reasons for cancellation can be the death or serious illness of the insured, his family or a first-degree relative or travel partner. A house fire. Summons in a lawsuit. Road accident. Before leaving for the trip. Dismissal, loss or theft of travel documents. Childhood diseases. Cover for travel delay of more than 6 12 hours, depending on the insurer. Cover for trip interruption or shortening. Cover for dental emergencies. Expenses caused by theft or loss of documents. Bodily injuries or material damage caused to third parties due to the fault of the tourist. Cancellation of travel tickets due to airline bankruptcy. Cover for refusal of entry or exit at the border. Covers for emergency medical expenses as a result of inadequate services on board the aircraft. Coverage for flight delays of more than 12 hours after leaving the territory of Romania. Baggage insurance in case of theft, loss, destruction or damage during land, air or sea transport. Baggage delay coverage of more than 12 hours. Roadside assistance coverage. Cover for sporting activities which includes reimbursement of costs for sporting activities not carried out. Costs for stolen, lost or damaged sports equipment. Costs for rental of replacement sports equipment and search and rescue costs. Accident cover covering death or permanent disability."
How can I secure the rest of the content?,"
• The rest of the contents - for example furniture, stock, electronic equipment older than 10 years - can be covered by a building and contents insurance policy, which can be an SME policy or another type of policy"
"I heard that someone had a travel policy, suffered something and was not compensated.","
Every insurance policy contains exclusions. If the event that occurred was on the list of exclusions, it is natural that the client was not compensated. That's why it's very important that you listen to my advice now, as we build the right solution for you."
Are consequential damages covered under the EEI policy?,"
• Yes, certain consequential damages are covered
• For example, if a part that has burned causes the failure of a module or the entire equipment, this risk is covered (consequential damage)"
"In conclusion, what does it mean for a family to have enough insurance?","
• A family has enough insurance if:
- Husband and wife have death insurance, with clauses for disability and critical illness
- Housing is insured through a complex policy
- The car is insured by RCA and casco, in that order, and not because the law requires it...
- The business is insured (if applicable)
• After the family already has enough insurance, if the family's income is above average, part of the savings can be placed in a savings life insurance
• Any additional clauses covering minor risks increase family protection"
How do you present travel insurance?,"
A second of inattention, an accident or illness can change the trip from pleasure to nightmare. And the nightmare will be even greater when you receive the bill from the hospital. For the more than reasonable sum insured, you insure that any accident or illness would occur during the trip. All emergency expenses will be covered by the insurer within the limit of the insured amount. Furthermore, the Support Company will manage your relationship with the hospital units where you will be treated. When you are in the country, you have friends, relatives, acquaintances to turn to abroad, you have only one friend you can turn to when needed 24/7. The insurer, through the assistance company."
What happens if I refuse to pay the insurance?,"
When asked this question, the first answer given must be If you stop paying the insurance, the family will be vulnerable again and that could mean trouble and suffering in addition to heartache."
What is the exception where you can mention a product over the phone?,"
• You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance
• Example of presenting the purpose:
• I am from Mr. Popescu, our mutual acquaintance
• Did Mr. Popescu inform you that I will call you?
• All right
• I know you are interested in insurance...is that true?
• Perfect
• To develop an insurance solution I need some information
• Is it okay if I write you on WhatsApp and you reply like that?
• You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance
• Example of presenting the purpose:
• I am from Mr. Popescu, our mutual acquaintance
• Did Mr. Popescu inform you that I will call you?
• All right
• I know you are interested in insurance...is that true?
• Perfect
• To develop an insurance solution I need some information
• Is it okay if I write you on WhatsApp and you reply like that?"
What types of funds can a customer invest in through the unit linked policy?,"
• A customer who buys a unit linked policy has three types of funds at his disposal
• High risk fund: investing in shares
• Medium risk fund: investments in shares and deposits
• Low risk fund: investments in bonds and deposits
• Fund allocation is determined by the client"
"Installments, food, gas, medicine, clothes, phone maintenance, cable TV, French lessons, car service, new tires, dog food. And this insurance agent is also bothering us. The husband said sullenly to his wife. Yes, you're right, yes, and the agent is when he says we can afford all this on our salaries, his wife replied, risking a family quarrel. However, he stopped eating and waved to his wife, indicating that he had gone mad. Do you know Violeta, my colleague from work? Did the wife dare to continue? Yes, what about Violeta? Remember her husband was electrocuted? She was left a widow to raise two children alone. Three years have already passed since then. I see her tired and sad all the time. I often hear her talking to her children on the phone and she keeps telling them that we can't do that, we can't afford that. We say to conclude once Do you want to buy the damn life insurance once? My dear, I'm going to the store to get some more bread and then I'm coming home. These were the husband's last words.","
The next words that struck terror into the wife's soul were those of the police officer. Your husband had an accident. The answer he gave to the 3-year-old girl who asked But when is daddy coming home? He doesn't even remember, but he probably was. Daddy never comes again. The days that followed seemed unreal. All. She couldn't believe that the unimaginable had happened to her and that from a cheerful and caring wife, she suddenly became a widow. Years passed, the girl grew up. The drama she had gone through years before had marked her. She was more serious and mature than her peers. Just like before the tragedy, the mother made sure that the little girl did not lack anything. But when they bought more expensive things, he made sure to discreetly remind her. These are from Tavi. Daddy is no longer with us, but because you loved yourself so much, he took care and left some money especially for you. Obviously, it was the money from the father's life insurance."
What policy do you recommend to a client with a high risk tolerance?,"
• You recommend a unit linked investment policy to a client with a high risk tolerance
• Life is priceless…
• And then how can you size a life insurance?
• Life insurance is money, paid out in hard times or good times
• A customer with a high risk tolerance will buy the unit-linked policy for the mirage of profit
• Emphasize this specificity as best as possible
• You recommend a unit linked investment policy to a client with a high risk tolerance
• Life is priceless…
• And then how can you size a life insurance?
• Life insurance is money, paid out in hard times or good times
• A customer with a high risk tolerance will buy the unit-linked policy for the mirage of profit
• Emphasize this specificity as best as possible"
How does the child savings plan work?,"
• Can you sell the child savings plan without understanding how it works?
• The truth is... yes
• But, out of ignorance, you risk misinforming or deceiving the customer
• Knowing how it works will give you security and help you logically answer questions and objections"
What is the child savings plan?,"
• The child savings plan provides the child with a fixed amount at a fixed time, regardless of whether the insured - usually one of the parents - is alive or deceased during the term of the policy"
How did sales evolve during the compensation period?,"
• During the compensation period, sales were:
• In the first 7 months, in which the company operated at the new headquarters, and used the lower capacity machine, sales were 10,000 Euros
• In the last 2 months, when the company returned to the old headquarters and used the new equipment, sales were 9,000 Euros"
How can you approach a grouchy and emotional customer?,"
• Nothing is accidental
• The fact that fate – or someone else – brought us face to face today may be a sign
• It would be a shame to let the chance slip through your fingers to do something good for those for whom your heart beats
• Many times I have thought that through me someone set out to help people
• Do you know how insurance helps people who are hit by fate?"
"How do you answer the objection ""I don't need business insurance""?","
• Are you saying you don't need profit?
• With the collapse of the business, in addition to profit, several other things disappear:
- Credibility in front of business partners
- Creditworthiness in investors' calculations
- Employees, who go elsewhere
- Customers, who choose other suppliers
- Reputation, which you have built up over years, and which disappears in minutes
- Your image as a successful man
• You don't need, you really need insurance, is that true?"
What risks do the additional clauses cover?,"
• Additional clauses cover two categories of risks:
• Major risks, which can affect the financial stability of the family by depleting savings and/or reducing income
• Average risks, which can affect family savings
• Major risks, respectively medium risks, refer to the financial impact they can have, in terms of the cost of treatment to restore health
• Sometimes average risks, such as a fracture or surgery of medium difficulty, could be covered from family savings
• But major risks, which lead to the disappearance of income and / or the sudden increase in expenses, cannot be covered from family savings
• For a family to overcome the financial problems generated by a major risk, a source of money is needed: and this is life insurance
• It is important that the risks are covered in this order: major and then medium, especially if the client does not have the money to buy all the clauses"
How do I know that the company will still exist in 20...30 years?,"
• You have no way of knowing
• And no one has any way of knowing
• Have you heard of Aviva, Axa, Eureko...?
• These insurers were active in Romania, after which they withdrew
• Today, the policies concluded with these insurers are administered by other insurers, by keeping the conditions of the insurance contract
• An insurer exiting a market does so by selling its portfolio
• The insurance conditions do not change by changing the insurer
• So you have nothing to worry about"
How do you present the benefits of insurance to your business?,"
• Comprehensive business insurance offers you three benefits:
- Repair or replacement of damaged or destroyed goods
- Coverage of damages caused to third parties, for which your company is responsible
- Recovery of unrealized profit
• For example in case of fire:
- We pay for the repairs
- We pay for damage caused to neighboring buildings or third parties affected
- We pay the fixed costs for restarting the business
- We pay the profit correlated with the achieved turnover
• You wouldn't have expected that insurance could do so much for you, would you?"
What is risk inspection and how is it performed?,"
• The risk inspection is an assessment of the physical and technical condition of the vehicle
• It consists of taking a set of pictures, with a clean car, in daylight
• As a rule, photos are taken showing the following:
- Body integrity (pictures from the 4 corners)
- The 4 rims and tires
- Punched chassis series (or in the windshield)
- Dashboard with the key in the ignition and the engine running
- Mileage
• If there are scratches, etc., a detailed photo is taken and the risk inspection report will be recorded in the policy
• Attention:
- Pre-existing damages will not be subject to compensation under the policy that will be issued
- It is advisable that all these damages are repaired, the risk inspection is carried out again and an additional act is issued stating this"
What story can you tell to open the conversation about a new policy?,"
• How do you choose the theme of the story?
• Choose a story that will have an impact on the customer
• If you have a true story, then tell it
• The important thing is to say it naturally, without seeming to be pursuing a goal"
What happens to clauses when premiums stop being paid?,"
• After the grace period, the additional clauses lose their validity
• It is possible for the insurer to accept the reinstatement of the additional clauses, by paying the outstanding premiums and completing a new medical questionnaire
• If the insured acquired an illness or suffered an accident in the meantime, the insurer may refuse to reinstate some of the clauses or reactivate them, but with exclusions"
How can you answer customer questions?,"
• General insurance for the family
- Home insurance
- Helmet
- Accident insurance
- Health insurance
• Life insurance
- Death insurance
- Mixed life insurance
- The savings plan for the child
- Unit linked
• Business insurance
- SME insurance
- EEI insurance
- RCT insurance
- Business interruption insurance"
What is casco insurance?,"
• Casco is an optional insurance aimed at owners of vehicles registered in Romania
• On the basis of this insurance, damages suffered by your own vehicle are compensated (unlike RCA, whose effects benefit the damaged third parties)"
"If I have more claims during the policy, will they be covered in full?","
• Depends
• There are some insurers where the recovery of the insured amount is automatic, being included in the basic package
• With other insurers, this clause is optional
• In any case, the number of claims covered by the policy is limited (for example to a maximum of 3 claims per year)"
"How do you respond to the objection ""I'm looking for you to buy life insurance""?","
• I mean... my wife is going to call me, you mean?
• That you just have no way of knowing if and when a misfortune will happen, right?
• We will be able to help your family, then, with a lot of money, if you do something today for your loved ones
• Because we don't know what ""then"" means"
What is the effect of buying a policy with the minimum staggered premium?,"
• The minimum tiered premium offers the advantage of minimizing expenses
• The customer will be able to benefit from the flexibility of the unit linked policy, being able to make additional payments
• Attention:
• The disadvantage of this choice is the very low death protection, since the minimum installment premium corresponds to the minimum sum insured"
When does the insurance policy start and end?,"
The validity of the travel policy begins on the day the policy comes into force. Upon leaving the country and ends on the day the policy expires upon returning to the country. As an exception, policies can be extended with a written request from the insured to the insurance company."
How do you choose the subject of the story?,"
• Tell stories about…
- Customers who have been compensated
- Customers who wanted to drop their insurance and you convinced them to continue
- Customers who followed your advice and were mobbed
- Notoriety events, connected with the notion of risk
- Customers who have given up their insurance and then the uninsured risk has occurred
- Customers who have been recommended to you by other customers
- Funny situations
- A customer who raised a common objection and you resolved it"
How are the covers determined on the IMM policy?,"
• The coverages are established based on the risk analysis of the business
• It is important to prioritize major risks, i.e. those that can affect critical elements and destroy the business:"
The client turned you down and nothing really happened to him; so was he right to refuse you?,"
• It is a very common situation
• The client refuses, months or years pass, nothing happens to him, and he concludes that he is invulnerable and therefore does not need insurance
• Is this conclusion logical?
• Not
• The only logical conclusion is that he was lucky in the past
• Are you right that he doesn't need insurance?
• Not
• Are you abandoning him?
• Not
• You persist, because... risk is a certainty in our lives
• The risk is unpredictable, so it can occur at any time
• And it is vital that at that time the family has the right insurance
• BrainO offers you various methods and scenarios for customer awareness (""warming up""), including online"
How do you present SME insurance?,"
• The SME policy ensures the reduction of losses in the event of a risk, by compensating for damage to the building or its contents: stocks, machinery, etc.
• The business interruption clause provides you with the financial support for restarting the business, by covering fixed costs, including additional ones, as well as partially unrealized profit
• The policy also covers any damage caused to third parties, such as bodily injury or material damage, thus protecting the company's reserves and assets"
What total amount will the insurer pay?,"
• The insurer will pay:
• Material damage, based on SME insurance
• Consequential damages, based on the business interruption clause, namely:
- Net profit"
Can additional clauses be added or removed?,"
• Yes
• This can usually be done on the policy anniversary, on application, and obviously with the insurer's agreement
• If the addition of clauses is requested, the insurer will request the completion of a medical questionnaire
• If he notices a deterioration in health, he will most likely refuse to add new clauses"
What is an investment fund?,"
• An investment fund is an institution in which people jointly invest their savings
• Accumulated funds are used to purchase assets
• Depending on the assets in which capital is invested, there are three types of funds"
How much money do I get back if I cancel the child's policy?,"
• If you cancel the policy within the first 3 years, you get nothing back
• If you terminate the policy from the 4th year onwards, you get the surrender value plus additional earnings on the date of termination
• The redemption value is specified in the contract for each individual year"
What risks can affect a family's financial security?,"
• A fire or an earthquake can destroy the home or business, a road accident can destroy the car, so they will affect material comfort
• An accident or a serious illness can lead to incapacity for work or death, so the family's income will decrease or disappear
• A moment of inattention or a human error can generate damage to third parties, so accidental debts
• These are the major risks and must be covered with priority
• All others, which may erode savings but will not affect the financial security of the family, are minor risks and can also be insured
• Bringing up major risks increases the chances of completion and reduces the likelihood of objections
• A customer can say that he has 500 Euros to paint his apartment, but it will be much more difficult for him to say that he has 100,000 Euros to buy a new home"
Can the child's policy be changed?,"
• Yes
• Most insurers accept policy changes on your anniversary
• If you wish to increase the insured amount, the insurer will request the completion of a new medical questionnaire"
What compensation was paid on the business interruption clause?,"
• Compensation paid on business interruption clause =
74,250 Euros"
How can you convince an old customer to buy a new policy?,"
• You can do this in two ways:
• Whichever of the two methods you choose, if you sell a new policy, your client and his family will be better protected
• With a new policy the client and his family are closer to having enough insurance"
"How can you ""warm up"" the relationship through telephone communication?","
• You can call the customer…
- To (re)explain to him what the policy he owns contains
- To communicate insurance news
- To communicate news of interest to him
- To ask his advice
- To invite him to an event
- To inform him that he still does not have ""enough"" insurance
- To emphasize the utility of insurance after payment of a claim"
How can you launch the story?,"
- Do you like stories? Can I tell you something?
- I'm pleased. I just helped a customer...
- I'm upset. I get angry when people don't listen to me...
- I'm upset. A client of mine only received 100,000...
- I just broke up with a lady who...
- Can I brag? Let me tell you something...
- Problems... Tell me, when something hurts, who do you turn to, a doctor or a confectioner...?
- That's how the Romanian is. He knows everything
- You give a penny, a penny makes... Is it?
- You know that kind of people who...?
- Do you understand these people? They care more about their car than their wife and kids...
- Yes, who wouldn't want it... And profit, yes, and safety... Eh... It hasn't been invented yet
- Cheap and good... Kinda hard...
- I want to put money in their pocket, and they don't want to...
- What would you do in my place, if you came across a family man who doesn't care about his family?
- A ruin brings no profit. It is?
- I tell you honestly, that if it weren't for me, let me insist, some time ago, Mr. X would not have existed today... Or he would have existed, but he would have lived in some brothel..."
How do you present death insurance?,"
No insurance replaces a spouse or parent. Death insurance replaces the wages that the insured was bringing home with the money from this insurance. You will be present not only in the memory of your wife and children, but you will be a support for everyday life."
How am I compensated under the EEI policy if the damaged parts are no longer available on the market?,"
• If the spare parts are no longer in series production, the compensation will be given in money, based on the actual value of the insured item"
What risks does the casco policy cover?,"
• There are two categories of risks:
• There are differences in how these risks are grouped, depending on the insurer"
"How do you resolve the ""I don't trust"" objection?","
- A: I don't trust insurance
• I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting)
- A: I don't trust insurance
• You see... after an earthquake there will be two categories of people: some who will receive money for a new home and others who will wonder who and why they didn't trust. Millions of people around the world trust us. Why wouldn't you have? (propose the meeting)
- A: I had insurance and... I wasn't satisfied...
• I understand you. There is no forest without dry areas. It just means that you have to be careful in whose hands you leave your family's financial security. (propose the meeting)
- R: I heard that someone suffered... did not receive... was dissatisfied...
• I understand you. The person you heard this from may or may not be right. But in any case he will not pay you tens of thousands of Euros in case of damage. Only an insurer will. (propose the meeting)
- A: I don't trust insurance
• I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting)
- A: I don't trust insurance
• You see... after an earthquake there will be two categories of people: some who will receive money for a new home and others who will wonder who and why they didn't trust. Millions of people around the world trust us. Why wouldn't you have? (propose the meeting)
- A: I had insurance and... I wasn't satisfied...
• I understand you. There is no forest without dry areas. It just means that you have to be careful in whose hands you leave your family's financial security. (propose the meeting)
- R: I heard that someone suffered... did not receive... was dissatisfied...
• I understand you. The person you heard this from may or may not be right. But in any case he will not pay you tens of thousands of Euros in case of damage. Only an insurer will. (propose the meeting)
• Is it a real objection?
• Surely
• It is one of the most frequent objections
• Can be caused by problems in the insurance market (bankruptcies, late payments, etc.), negative personal experiences or rumors and prejudices
• Resolving this objection can be done by providing arguments that the client cannot deny"
"What is more urgent, protection or saving?","
• To save there must be a constant and long-term financial surplus
• But the financial surplus will disappear quickly, if
- ... burned down your house
- ... you have become unfit for work
- ... you have debts to pay
• The order should be this: first protection, against all major risks, and then saving, as much as possible
• But if a customer insists on buying unit-linked, with the minimum sum insured, even though he has a child, a home and a business, and he doesn't have enough insurance, what do you do?
• You sell him what he wants
• But you will still insist that he buy policies that provide him and his family with enough insurance
• Your role as an insurance broker is to sell your customers enough insurance
• Why is this your role?
• Because what you sell - insurance - is the only way customers can get financial protection
• Remember: the only one
• Savings methods... there are plenty more"
What happens to my money if the insurer goes bankrupt?,"
• In this case you may lose some of your money
• But I would like to ask you something…
• How many serious insurers have you heard of going bankrupt?"
How do I know the insurer will pay all these amounts on the child's policy?,"
• You conclude a contract with the insurer
• Both you and the insurer must comply with this contract"
What are the stages of the oral presentation of insurance solutions?,"
• In order to understand why he needs a certain insurance, the customer must first remind himself that... he has a certain need
• Therefore, before presenting the solution you propose to him, it is good to recapitulate the insurance needs of the client and his family"
At what value are electronic devices insured?,"
• Devices are insured at new (catalogue) value, including any taxes paid (for example VAT, customs duties, transport costs, excise duties)"
What are variable expenses?,"
• Variable expenses are those expenses that are related to the level of production:
- Commissions
- Transportation costs
- Raw materials
- Packaging"
What methods can you use to get referrals?,"
• How you can get referrals…"
What happens to the unit linked policy if I stop paying premiums?,"
• The policy will continue, including death protection, as long as you have fund units in the account
• The cost of life insurance and administration costs will be deducted from the number of fund units
• When the number of fund units reaches 0, the policy will terminate
• The insurer will notify you of the imminent termination of the policy"
How can you introduce yourself?,"
• Choose from the phrases below the ones that represent you and by combining them build an impactful personal presentation:
- I have been working in insurance for... years and I specialize in family and business insurance
- Clients appreciate me because I help them be and feel safe
- They know that thanks to me and the company I represent, they are well protected against risks
- I'm one of the best consultants in the firm (only say this if it's true and you feel comfortable saying it)"
What is the assumption of investment risk?,"
• By assuming the investment risk, the client understands and accepts the fact that it is possible that at the maturity of the policy he will receive less money than he paid"
Why do people with credit need life insurance - example,"• If on the date of death the loan balance is 80,000 Euros and the insured amount is 100,000 Euros, then:
• The bank receives 80,000 Euros
• His family receives 20,000 Euros"
How do you size death insurance - example,"• A person with a salary of 1,000 Euro has ""enough"" death insurance if the insured amount has values ​​between...
• 3 x 12 x 1,000 = 36,000 Euros
• 5 x 12 x 1,000 = 60,000 Euros
• If applicable, add the value of the credit balance"
What is the child savings package - example,"• The mother buys a savings package for the child, consisting of:
• The savings plan for the child, with the insured sum of 50 thousand lei, which automatically includes the exemption from paying premiums in the event of the death of the parent
• Life insurance, with the insured amount of 50 thousand lei
• Permanent disability insurance from the accident, with the insured amount of 50 thousand lei
• Exemption from paying premiums in case of disability"
"If the beneficiary of the savings is the child, then recommend the savings package for the child","• The optimal savings option for the child is the package composed of:
• Savings plan for the child
• Life insurance of the insured (usually the parent)
• The insured's permanent disability insurance due to the accident
• Exemption from payment of premiums in case of invalidity of the insured
• If the insured brings up the rigidity of the package - for example the difficulty of partial withdrawals - say:
• You just save
• The money belongs to the child
• Uses the ""domino principle"" to highlight the fact that savings continue unchanged in the event of death or disability of the insured - an unbeatable advantage of this package"
Why key people in a business need life insurance - example,"• An IT company has 5 employees, one of whom is the ""brain"" and brings in revenues of 500 thousand Euros in one year
• The company's shareholders conclude a life insurance for this ITst:
• ITst is insured
• The contractor is the company
• Beneficiaries are the shareholders"
Why do people on whom the fate of a family depends need death insurance - example,"• The husband earns 1,500 Euros per month and the wife earns 1,000 Euros
• Since the husband is the financial pillar, the family decides to buy him a death insurance
• The amount insured in the event of death is set at the value of wages for at least 3 years: 3 x 12 x 1,200 = 43,200 Euros"
The insured dies - example,"• The mother dies during the term of the insurance contract
• The insurer will pay the following allowances:
• Life insurance, in the amount of 50 thousand lei, immediately after the death of the mother, to the other parent (or grandfather, guardian)
• The amount insured at maturity, in the amount of 50 thousand lei, at the maturity of the policy, for the child himself
• The total compensation paid to the family is 50 thousand lei + 50 thousand lei = 100 thousand lei"
How to size life insurance with savings - example,"• If the client has a salary of 1,000 Euro per month, you will recommend him to pay for a life insurance with savings between...
• 5% x 1,000 x 12 = 600 Euros / year
• 8% x 1,000 x 12 = 960 Euros / year"
The insured becomes disabled - example,"• The mother has an accident and becomes disabled and unable to work for the duration of the contract (degree of disability 50%)
• The insurer will pay the following allowances:
• Permanent disability insurance from the accident, in the amount of 25 thousand lei, after establishing the diagnosis, for the mother
• The amount insured at maturity, in the amount of 50 thousand lei, at the maturity of the policy, for the child
• The total compensation paid to the family is 25 thousand lei + 50 thousand lei = 75 thousand lei"
What is a decent income?,"• It means that the family's income covers current expenses and at the same time there is the possibility of saving some sums of money for emergencies or for distant goals
• Without an income you will have to resort to savings - if there are any, and if you don't have ""white money for dark days"", you will have to sell your goods or even change your home
• Even if you have material comfort, even if you have no payment obligations, but if your income, necessary for daily living, has disappeared, the well-being of the family will be seriously affected"
What is the well-being of a family based on?,"• Think about your family
• The well-being of any family living in a civilized society depends on three factors (pillars):
• Whichever of the three factors is missing, family life is severely affected"
"What is the role of the insurance intermediary, from the customer's perspective?","• The role of the intermediary is to convince each customer to buy as many of the policies as possible that provide him and his family with enough insurance
• An intermediary is really good when his clients have financial security, so they are at least protected against major risks
• To fulfill your role you have to insist
• Civilized, but insist
• The intermediary must be a discreet but constant presence in the family life of each client
• Because where middleman fails, mischief can succeed
• Because fire, death and earthquake come unannounced
• Don't shy away from excuses like ""Well, what should I do, if the client only does the mandatory and casco?""
• Your role is to sell value added insurance ie optional policies
• If you reduce yourself to the mandatory and the casco, the customers don't need you
• Soon they will be able to buy these policies on the Internet
• And then why should they pay you?"
What does material comfort mean?,"• It primarily means that the family has a sufficiently spacious and well-equipped home so that the family members feel comfortable in their home
• For most families, material comfort also means a personal car
• Any family wants to put money aside and use the savings to purchase goods, for trips, for home renovation or for medical treatments
• Even if you have a decent income, even if you have no payment obligations, but if your home was destroyed, which can be worth tens of thousands of Euros, the well-being of the family will be seriously affected"
"What does it mean to be solvent, i.e. to have no accidental payment obligations?","• It means having a sufficiently consistent source of money so that a possible payment obligation, even in the order of thousands or tens of thousands of Euros, is covered
• Even if you have material comfort, even if you have a decent income, but if your family will be forced to pay large sums of money, the family's well-being will be seriously affected"
What does it mean for a family to have enough insurance?,"• And when you consider that most customers think that an RCA is enough for them...!
• Do you realize how many policies you can sell your customers because they urgently need them, even though they don't realize it yet?
• You will be able to try to sell other insurance policies only in families where there is not enough insurance yet
• Are there many families in these?
• This is probably 99% of families!"
"Why should you first have enough insurance, and then save?","• Saving
• Usually targets a distant desire
• The desired capital is obtained in a long time
• In addition to life insurance, there are other ways to save (deposits, currency, shares, etc.)
• It is a controllable process, only if everything goes well
• Insurance
• Always target a need
• The necessary capital is obtained instantly
• Apart from insurance, there is no other way to obtain the required amount instantly
• Risk production is unpredictable"
"What is more urgent, protection or saving?","• To save there must be a constant and long-term financial surplus
• But the financial surplus will disappear quickly, if
• ... burned down your house
• ... you have become unfit for work
• ... you have debts to pay
• The order should be this: first protection, against all major risks, and then saving, as much as possible
• But if a customer insists on buying unit-linked, with the minimum sum insured, even though he has a child, a home and a business, and he doesn't have enough insurance, what do you do?
• You sell him what he wants
• But you will still insist that he buy policies that provide him and his family with enough insurance
• Your role as an insurance broker is to sell your customers enough insurance
• Why is this your role?
• Because what you sell - insurance - is the only way customers can get financial protection
• Remember: the only one
• Savings methods... there are plenty more"
What policies protect what the family has?,"• ... So the house, the car, the savings, the business?
• Specifically:
• Comprehensive home insurance
• Casco insurance
• Business insurance
• And generally, any type of insurance protects family savings
• In the absence of insurance, the consequences of producing a risk are eliminated by calling on one's own savings"
What risks can affect a family's financial security?,"• A fire or an earthquake can destroy the home or business, a road accident can destroy the car, so they will affect material comfort
• An accident or a serious illness can lead to incapacity for work or death, so the family's income will decrease or disappear
• A moment of inattention or a human error can generate damage to third parties, so accidental debts
• These are the major risks and must be covered with priority
• All others, which may erode savings but will not affect the financial security of the family, are minor risks and can also be insured
• Bringing up major risks increases the chances of completion and reduces the likelihood of objections
• A customer can say that he has 500 Euros to paint his apartment, but it will be much more difficult for him to say that he has 100,000 Euros to buy a new home"
What policies protect family income?,"• Family income can come from salaried work (or commission, honorarium, royalties, etc.) or from dividends
• The insured's income can be protected by:
• Temporary work incapacity insurance
• Business interruption insurance
• Unemployment insurance
• The income of the insured's family (wife, children, etc.) can be protected by:
• Death insurance"
What does it mean for a family to be financially secure?,"• A family is financially secure if:
• There is material comfort (housing, car, savings)
• There is a decent and stable income, from salary, commission, or from a business
• The family is solvent
• Whatever may befall"
"In conclusion, what does it mean for a family to have enough insurance?","• A family has enough insurance if:
• Husband and wife have death insurance with provisions for disability and critical illness
• Housing is insured through a complex policy
• The car is insured by RCA and casco, in that order, and not because the law requires it...
• The business is insured (if applicable)
• After the family already has enough insurance, if the family's income is above average, part of the savings can be placed in a savings life insurance
• Any additional clauses covering minor risks increase family protection"
What policies protect the family from accidental payment obligations?,"• All liability insurance protects the family from accidental payment obligations
• If you flooded the neighbor below, and you don't have liability insurance, take a few hundred Euros out of the bank and paint his apartment
• But if you have fatally injured some pedestrians, and you are obliged to pay hundreds of thousands of Euros, how will your family's life continue, if you do not have RCA...?
• RCA, professional civil liabilities and others, are not mandatory because ""that's what the state wants""
• These policies are mandatory to protect both the person responsible for causing the damage and the person who suffered the damage
• How?
• The one who suffered the damage is compensated quickly, by the insurer, without having to endure the ordeal of lawsuits that last for years
• The person who caused the damage preserves his savings, income, properties, and implicitly the good life of his family, because the damage is paid quickly, by the insurer, and he is not obliged to go through the courts for years..."
Why do people with credit need life insurance?,"• In case of premature death, the balance of the loan will be paid by the insurer
• The beneficiary of the insurance is the creditor (e.g. the bank)
• If the sum insured exceeds the balance, the family will receive the difference"
How do you recommend life insurance with savings?,"• You will recommend life insurance with savings based on:
• The beneficiary of the saving
• Risk tolerance of the client; why?
• Don't forget the ""formula"" of satisfaction: Satisfaction = Expectations - Reality
• Even if the company also has unit linked for children in its portfolio, it recommends a guaranteed savings plan for the client's child
• Otherwise, it will be difficult for him to tell the child that he invested badly, on his behalf..."
Why do people on whom the fate of a family depends need death insurance?,"• With the death of the person, the income that he brought to the family also disappears
• Life insurance replaces the income of the prematurely deceased person
• If the dependent client asks:
• If I die, what else do I need insurance for?
• reply:
• If you die, will your descendants still need money to live on?
• Life insurance does not ensure that you do not die
• But life insurance ensures that your plans don't die with you"
How do you size life insurance with savings?,"• A life insurance with savings is sustainable in the long term if the insurance premium falls within the range of 5...8% of income
• If the client asks you why it is ""so expensive"", explain that, whatever happens to him, the money goes back to the family
• What is not known is only the moment…
• When sizing life insurance with savings, you start from the available premium, because at the same insured amount. the policy is more expensive than the death policy
• Not everyone can afford to save"
How do you recommend the right life insurance?,"• If the customer stubbornly asks you for a different solution than the one you recommend, send them an email with your reasoning
• He will never be able to say that he was not well advised
• Insist on selling the client ""enough"" insurance, i.e. sufficient protection against major risks: death, disability, serious illnesses
• Many people avoid considering them out of superstition, but the risk is a certainty"
Why do key people in a business need life insurance?,"• In the case of the premature death of the key person of the business (it can be a manager, a valuable engineer, an IT-st, an architect, a doctor, an exceptional professional in general), it is possible that both the turnover and the profit business to decline
• Sum insured can be equal to the profit generated by the key man
• The beneficiaries of the insurance are the shareholders, in the case of SA, respectively the associations, in the case of SRL"
How do you size death insurance?,"• A client has ""enough"" death insurance if the insured amount represents the equivalent of his income over a period of 3...5 years
• Mortgages, if any, must be added to this amount"
What policy do you recommend to a client with a high risk tolerance?,"• You recommend a unit linked investment policy to a client with a high risk tolerance
• Life is priceless…
• And then how can you size a life insurance?
• Life insurance is money, paid out in hard times or good times
• A customer with a high risk tolerance will buy the unit-linked policy for the mirage of profit
• Emphasize this specificity as best as possible"
What is risk tolerance?,"• Risk tolerance is the client's willingness to assume a potential loss in the hope of obtaining a high gain
• A customer who has a high risk tolerance is willing to lose money, that is, to receive at the maturity of the policy less than he paid
• Avoid the question ""Which profit do you want, more or less?""
• All people will benefit as much as possible
• But not everyone is willing to take risks
• Don't rush to recommend the type of savings insurance until you've determined your risk tolerance
• If you recommend wrongly, you will induce unrealistic expectations, and this is the first step towards disappointment..."
How do you determine risk tolerance?,"• You can ask the client the following two questions:
• Would you borrow 3,000 Euros to invest them? (Yes No)
• If the investment made a loss, would you leave the money there? (Yes No)
• Conclusion:
• If the customer offered at least one ""No"", then it means that he has low risk tolerance
• If the customer gave two ""Yes"", then it means that he has a high risk tolerance"
What policy do you recommend to a client with a low risk tolerance?,"• To a client with a low risk tolerance, you recommend a guaranteed policy, ie mixed life insurance
• If you attach the exemption clause from paying premiums in case of disability, the policy becomes the ideal long-term savings tool
• If the insured becomes disabled, the insurer will save in his place
• A customer with low risk tolerance will buy life insurance for the sum assured
• Emphasize this advantage as best as possible"
Who needs life insurance?,"• People need death insurance...
• ... on which the fate of a family depends; why?
• ... who contracted a loan; why?
• ... who are key people in a business; why?
• To sell life insurance you can appeal to feelings of care, affection and even shame
• For example, you can ask:
• What will relatives and friends say about you if you leave your family without money?
• In fact, the need for protection, i.e. life insurance, is not the client's, but those who, in one way or another, depend on him
• That's why you'll often hear “Why do I need life insurance? If they die, that's…”
• Life insurance is not for selfish people"
What clauses can be attached to the mixed life insurance policy?,"• Clauses can be attached to mixed life insurance that:
• Increase death protection
• Provides money for treatment in case of accident or illness
• Some of the clauses may also cover other family members
• Premiums related to additional clauses are not invested, they represent an expense"
What does capitalization mean?,"• Capitalization (in popular terms ""interest on interest"" or ""snowball effect"") means the annual, repeated reinvestment of the amount existing at the end of the previous year
• It is important to remember that the guaranteed capitalization mechanism, specific to traditional life insurance, guarantees the client that his sums will always increase, so they will never decrease: today the insured has more money than yesterday, and tomorrow he will have more money than today
• There are also capitalized bank deposits
• But bank deposits usually have a duration of one year, the money can then be withdrawn without penalty, while a life insurance with capitalization has a long duration, usually 20...30 years
• Different financial instruments with different purposes"
How much money do I get at the end of joint life insurance?,"• At the maturity of the policy you receive the sum insured plus the additional profit
• That is, you receive at least the sum assured, which is guaranteed by the contract
• If the guaranteed sum insured at maturity is lower than the sum of the premiums, explain to the client the reason: the age of the client and the relatively short term of the contract, which makes the default and capitalization period short
• Explain to the customer that this product gives them certain amounts in a world full of uncertainties
• The insurer undertakes to obtain the guaranteed interest year after year, for periods of 20...30 years
• What other financial institution offers guaranteed interest for decades?"
What is joint life insurance?,"• Mixed insurance is life insurance with a savings component
• It is a traditional product, so the sums insured are guaranteed"
What happens to joint life insurance if premiums are waived?,"• The policy remains valid but for a lower sum assured, called reduced sum assured
• A great advantage, isn't it?
• In this case, the client will still have a mixed life insurance, but ""smaller"", without paying anything more
• The accumulated sum guaranteed (ie the mathematical reserve) will continue to be invested and the insurer still guarantees the same technical interest"
How much money do I get back if I cancel my joint life insurance policy?,"• If you cancel the policy within the first 3 years, you get nothing back
• If you terminate the policy from the 4th year onwards, you get the surrender value plus additional earnings on the date of termination
• The redemption value is specified in the contract for each individual year"
What amount does the insurer pay in case of termination of joint life insurance?,"• The surrender value is the amount received upon termination
• Redemption value is a percentage of the guaranteed accumulated amount (or mathematical reserve)
• A spouse buys a mixed life insurance for 15 years, with the insured sum of 45 thousand lei
• In the 7th year, terminate the policy
• The compensation paid to the insured is calculated as follows:
• The redemption amount corresponding to the last fully paid year (6th)
• 12690
• +
• Additional earnings at the date of termination (simulation)
• 609
• =
• 13299
• Receiving a lower amount of money than what was paid, when terminating the policy, is one of the main reasons for customer dissatisfaction
• Be prepared to deal with this topic
• Explain to the client that, in addition to the redemption value, guaranteed by the contract, he will also receive the profit participation, calculated on the date of termination
• Termination of the policy means breach of contract
• In order to pay the client the money owed to him, the insurer must liquidate some investments
• And this operation has a cost, which the insured bears
• Explain to the customer that all values ​​in the table are guaranteed by the contract
• In addition, they are guaranteed by the FGA in the event of the insurer's bankruptcy"
How does joint life insurance work?,"• Can you sell mixed life insurance without understanding how it works?
• The reality is that… yes
• But, out of ignorance, you risk misinforming or deceiving the customer
• Knowing how joint life insurance works will give you security and help you logically answer questions and objections"
Why do I get less at the end of my mixed life insurance than I paid?,"• The guaranteed amount at maturity may be lower than the amount of premiums paid because (*):
• The capitalization period is in some cases relatively short
• Protection money and policy administration money are not invested
• (*) The above situation is possible in the case of short-duration policies - under 15 years, in the case of elderly clients and in the case of low-value premiums"
How is compound life insurance inflation protected?,"• An example of a mechanism:
• The insured amount increases annually with the inflation index
• The insurance premium increases with a percentage communicated by the insurer"
How is compound life insurance policy inflation protected?,"• The insurer annually increases the insured amount by the percentage of inflation
• In exchange for the increase of the insured amount, the insurer requests an increased premium, correlated with the increase of the insured amount"
How do you get the guaranteed amounts at the end of each year?,"• In terms of guaranteed (traditional) life insurance, of which mixed life insurance is also a part, capitalization means the following: each year the amount existing at the end of the previous year (called the mathematical reserve) is invested, together with the investment premium from the starting year
• The insurer guarantees that the minimum investment return will be equal to the guaranteed technical interest
• In this way, the minimum amounts are guaranteed at the end of each year of the contract; these values ​​are called mathematical reserves
• Since the minimum amount at the maturity of the contract is guaranteed, it follows that the intermediate values ​​(mathematical reserves) over the entire duration of the policy are also guaranteed
• The notion of mathematical reserve can be difficult for the client to understand; if you end up discussing these details with him, instead of a mathematical reserve, you can use the phrase ""guaranteed accumulated sums""
• It is important to note – and to communicate to the client – ​​that these accumulated guaranteed amounts are guaranteed to the client both by the insurer, by contract, and by the ASF, through the FGA
• The bottom line is this: traditional life insurance (that is, with a guaranteed technical interest) is among the safest long-term investments
• Westerners have known this for hundreds of years - the first life insurances appeared in the 19th century; Romanians are only now (re)learning...
• That's why in the insurance market in developed countries, life insurance holds the largest share, as in gross annualized premiums (PBA)
• Remember: the guaranteed technical interest is guaranteed for the entire duration of the policy
• This means that no matter what happens in the economy, no matter how interest rates fluctuate, the insured benefits from the same minimum interest for the entire duration of the policy
• If the question ""so what?"" crosses your mind, it would not hurt to consider the following realities:
• In the years 1995-2000, when the sale of life insurance took off in Romania, the guaranteed technical interest had the value of 5.5%
• A customer who bought a traditional life insurance in 2000, with a duration of 30 years, benefits from the same minimum interest until 2030 (!)
• When you talk to your client about saving for the long term, when you get to present the benefits of traditional life insurance, focus on safety, not profit
• The ""security"" argument will not be able to contradict it, while the ""profit"" argument will...
• There are other investment instruments that can generate a higher return than traditional life insurance; remember the nuance: ""can"""
What happens to my joint life insurance policy if I stop paying?,"• If you stop paying premiums in the first 3 years, the policy is terminated
• If you stop paying premiums from the 4th year onwards, the policy remains valid but for a lower value, called reduced sum assured
• The reduced insured amount is paid to you at the maturity of the policy, or to the beneficiaries on death, if you prematurely disappear from the family life
• In addition, either at maturity or at death, the insurer pays the additional gain realized"
What is the role of joint life insurance policy for a family?,"• Mixed life insurance has a dual role:
• Ensures the financial stability of the family in the event of the premature death of the insured
• Ensures the accumulation of a certain amount at a certain time (eg retirement)"
Can the joint life insurance policy be changed?,"• Yes
• Most insurers accept policy changes on your anniversary
• If you wish to increase the insured amount, the insurer will request the completion of a new medical questionnaire"
What total amount does the policyholder receive when the policy matures?,"• The guaranteed technical interest is a minimum value that the insurers obtain, throughout the duration of the contract
• In reality, insurers usually get higher investment returns (improperly called ""interests"").
• Correct is the investment result and not the interest because the interest is specific to bank deposits, or insurers mainly invest in bonds, where the gain is called ""coupon""
• If the investment result exceeds the guaranteed technical interest, an investment surplus appears
• The investment surplus is divided between the insurer and the insured, based on the profit-sharing scheme:
• Most of it goes to the insured (85-90%)
• The smallest part goes to the insurer (15-10%)
• At the maturity of the policy, the insured receives the guaranteed sum insured plus participation in the profit
• That is, he gets at least the sum assured, never less
• For short-term contracts, or when the insured is elderly, or both, the additional earnings can compensate for the fact that the guaranteed amount at maturity is lower than the amount of the premiums
• The additional profit is paid in any situation of termination of the contract: death, survival or termination"
What risks does joint life insurance cover?,"• Mixed life insurance covers the two complementary risks that may occur during the policy:
• Death
• Survival
• Usually, with this type of policy, the sum assured on death is equal to the sum assured on survival
• Since there is certainty of occurrence of one of the insured risks, there is also certainty of payment of the insured sum
• If you feel like you have someone, you can seriously joke:
• With this policy, you are worth as much to your family, whatever happens to you
• Highlights the unique and unbeatable advantage of this product: whatever happens to the insured, the money goes back to the family"
What happens to the joint life insurance policy if the insurer goes bankrupt?,"• Bankruptcy of a serious insurer is unlikely
• If, however, it does, then you are paid the surrender value on the date of bankruptcy
• The redemption value is paid...
• From the insurer's reserves, if they are sufficient
• From the Insured's Guarantee Fund, if the insurer's reserves are insufficient
• So whatever happens, you recover the surrender value, from the contract"
How is the money paid for joint life insurance an investment?,"• In order to obtain the guaranteed amount at the maturity of the policy, in any economic conditions, insurers invest the life insurance capital mainly in safe instruments:
• ≈ 85% in bonds
• ≈ 15% in deposits, shares, etc"
What information do you require to offer joint life insurance?,"• The minimum information for bidding is as follows:
• What is your salary?
• Or the alternative: in what range are your incomes?
• How old are you?
• At what age do you want to receive the money saved?
• How much do you want to save, annually (I recommend 5...8% of income)?"
What part of the insurance premium is invested?,"• Part of the insurance premium is represented by the costs related to the policy (for example the risk premium, commissions, medical tests, FGA tax, correspondence, printing)
• Part of the insurance premium is invested; this part is called investment premium
• Little is invested in the early years because there are high expenses
• For this reason, if the insured terminates the policy in the first years (for example in the first three years) he does not recover any of the money paid; it is good to tell the client this, so that they do not confuse mixed life insurance with a bank deposit...
• Starting from the fourth year, the investment premium represents an increasing percentage of the insurance premium, reaching values ​​of 90-95% in most of the contract
• To the question ""Well, isn't all my money invested, like at the bank?"", the answer must be:
• We are not talking about a deposit, but about insurance, and protection has a cost
• Because the policy covers two risks – death and survival, the customer pays for each of them
• And the money for the risk of death is not returned"
What is an additional payment?,"• The additional payment consists in buying some fund units at a given time
• It is recommended that this operation be performed when the fund unit is cheap (has a small value)
• Making an additional payment is an advantage specific to investment products
• Additional payment, in the client's language:
• If you want to buy Euros, when is it good to do it, when is the price low or high?
• It is the same with additional payments
• The best thing the customer can do when the unit is cheap is to make an additional payment
• And the worst thing is to panic and withdraw your money"
Who and how determines the value of the fund unit?,"• The daily value of the fund unit is set by the investment manager of the insurance company (can be internal or external)
• The value of a fund unit is obtained by dividing the value of the managed fund by the total number of fund units, related to the entire client portfolio
• The daily value of a fund unit is posted on the investment manager's website and the insurer's website"
What is fund allocation?,"• Fund allocation consists in determining the percentages of investment premium allocation in each of the three funds
• Example:
• 50% in the high risk fund
• 30% in the medium risk fund
• 20% in the low risk fund
• Fund allocation can change at any time
• Each insurer offers 1 or 2 free fund allocation changes each year"
How much money can I lose?,"• Please note that for the duration of the contract, you only lose money if you cancel the policy when the units are cheap
• If you mean when the policy matures, there is no answer to this question
• Only on the day the policy matures will you know how much money you have in your account"
What risks does the unit linked policy cover?,"• The unit linked policy covers the risk of death from any cause
• There are two ways of calculating the allowance paid in case of death:
• The sum between the sum assured at death and the account value at the date of death
• The maximum between the sum assured on death and the account value on the date of death"
How do you present the unit inked policy?,"• If you are willing to take a risk, you can invest some of your savings in the unit linked policy
• The insurer will invest your money in the funds you choose - riskier or less risky - and at the maturity of the policy you will receive the amount resulting from the investments
• You can reduce the investment risk through a long investment duration of over 20 years
• You will also be able to invest any additional, unforeseen savings that appear during the contract
• To the question ""What do you advise me to do?"" reply:
• I cannot decide on your money
• I present you the advantages and disadvantages of the product, but the decision is yours
• Present the product in such a way that the customer understands its advantages but at the same time can never blame you for having misinformed him
• Send him an e-mail with the conclusions; and then archive the email"
What return can I get?,"• You can access the website of insurer X, where you will find the evolution of each fund, from its creation to the present
• Please keep in mind that the past is no guarantee of the future
• In the field of investments, we are talking about forecasts, not certainties"
How can unit linked policy performance be optimized?,"• There are four methods of optimizing unit linked policy performance:
• Choosing a contract duration of at least 20 years, to reduce the investment risk
• Making additional payments when fund units are cheap
• Changing the fund allocation
• Buying a policy with the minimum staggered premium accepted by the insurer
• Making additional payments and changing the allocation of funds presuppose that the client is ""in phase"" for the entire duration of the contract
• Through these levers he can manage his investment
• Choosing a long term and a small premium are choices that are made only once, when the policy is issued"
What happens to the money paid by the customer for the unit linked policy?,"• A part of the insurance premium is spent (risk fund, commissions, medical tests, correspondence, prints, FGA tax), and a part is invested in investment funds
• The investment premium is used to buy fund units"
What information do you require to offer unit linked?,"• The minimum information for bidding is as follows:
• What is your salary?
• Or the alternative: in what range are your incomes?
• How old are you?
• What amount would the family need in case of death?
• How much do you want to invest, annually?
• Or the alternative: what amount are you willing to risk, annually, placing the money in an investment?
• Pay attention to the following aspect:
• Your interest – a high regular premium, which generates a high commission, and the client's interest – a low regular premium and additional payments – can collide
• What do you choose?
• Explain to the client that the triple ""term of over 20 years - minimum staggered premium - additional payments"" can optimize the return on investment"
What is a unit linked policy?,"• Unit linked is a life insurance with an investment component
• The specificity of this policy consists in a higher expected return
• To benefit from this advantage, the insured accepts to assume the investment risk"
What does superior expected return mean?,"• A policy with a higher expected return refers to the fact that the customer expects, for the same money paid and over the same period of time, to receive a larger amount of money at the maturity of the policy than if he had bought a traditional policy, so guaranteed
• If you are an honest man, do not present simulation predictions as guarantees, but as what they are: predictions
• The reality can be more beautiful or uglier than the predictions (see the crisis of 2008-2010...)
• Attention: this is the expected return, and not guaranteed!
• Replace ""you will receive"" with ""you may receive"""
What is the effect of buying a policy with the minimum staggered premium?,"• The minimum tiered premium offers the advantage of minimizing expenses
• The customer will be able to benefit from the flexibility of the unit linked policy, being able to make additional payments
• Attention:
• The disadvantage of this choice is the very low death protection, since the minimum installment premium corresponds to the minimum sum insured"
How is account value calculated?,"• The account value is calculated by multiplying the number of fund units by the value of one fund unit
• Explain to the client that with investments of this type fluctuations are natural and not to panic
• ""He who cannot control his emotions will not be able to control his money"" (Warren Buffett)
• The value of the account fluctuates daily, depending mainly on the fluctuation of the value of a fund unit"
What amount does the insurer pay in case of termination of the unit linked policy?,"• In the event of policy termination, the insurer will sell all existing fund units in the customer's account
• The penalty percentage specified in the contract will be applied to the resulting value, and the resulting amount will be paid to the client
• Instead of canceling the policy, a partial withdrawal can be made if the client's family urgently needs money
• The worst time to cancel the policy is when the units are cheap
• It is like selling the currency you have saved exactly when the Euro is the cheapest
• You will obviously lose"
What are the advantages of unit linked compared to other investment instruments?,"• Ease of investing; once you've taken out the policy, you essentially have to pay the premiums, and that's it
• Death protection
• Investment discipline; the insurer communicates the due dates to you, which prompts you to invest rhythmically as recommended by the specialists
• Continuity of the investment, including in case of disability, if you have purchased the exemption clause from paying premiums in case of disability"
Which are the most profitable and which are the safest assets?,"• The assets that can bring the highest return are also those that can generate the biggest loss
• Show the client this chart so they can set realistic expectations
• High gain and safety at the same time,... not yet invented
• In the ""low risk - low gain"" area are the assets in which traditional insurance capitals are invested
• That is why traditional insurance returns are low"
What is an asset?,"• Assets are resources accumulated in the past with the purpose of obtaining profit in the future
• The most common assets are:
• Bank deposits
• State titles
• Bonds
• ETFs
• Actions
• Real estate
• Precious metals"
What is an investment fund?,"• An investment fund is an institution in which people jointly invest their savings
• Accumulated funds are used to purchase assets
• Depending on the assets in which capital is invested, there are three types of funds"
What impact does duration have on unit linked policy performance?,"• Between 1925 and 2018, so almost a century, whoever invested in the stock market for at least 20 years, obtained a maximum return of 19%, a minimum return of 3% and never lost"
What clauses can be attached to the unit linked policy?,"• Clauses can be attached to the unit linked policy to increase death protection and clauses to provide you with money for treatment in the event of an accident or illness
• Some of the clauses may also cover other family members (depends on the insurer)"
What is a fund unit?,"• The fund unit is the unit of measure for the performance of an investment fund
• The fund units in the account of a contract represent the holdings of the contractor in the investment fund, based on the premiums paid
• Fund units change their value from day to day, depending on the value of the fund"
Can I change the investment option?,"• Yes
• You can always change the way your money is invested, namely the fund allocation
• You are entitled to one or two free changes each year
• This depends on the insurer"
How much money do I get if I cancel the unit linked policy?,"• Termination of the policy actually means selling the fund units and collecting the resulting amount
• The insurer will sell the fund units in your account at the price on the day of registration of the request and pay you the account value
• A penalty may apply"
What types of funds can a customer invest in through the unit linked policy?,"• A customer who buys a unit linked policy has three types of funds at his disposal
• High risk fund: investing in shares
• Medium risk fund: investments in shares and deposits
• Low risk fund: investments in bonds and deposits
• Fund allocation is determined by the client"
What happens to the unit linked policy if premiums are waived?,"• Risk premiums and policy administration costs will continue to be deducted from the account value
• The number of fund units will decrease over time
• And during the period in which the payment of premiums was waived, the client can make additional payments
• It is an advantage worth considering
• With a traditional insurance, in the case of waiving the payment of premiums, the insured sums decrease
• With unit linked, in the case of waiving the payment of premiums, the sum assured on death remains the same"
What can I do if I see that I'm losing money?,"• You are probably referring to the fact that the value of the units decreases, correct?
• In this case you don't have to do anything; simply
• On the contrary, if you have an amount of money available, this is the right time to invest
• Please note that you only lose money if you cancel the policy when the units are cheap
• Panic is the number 1 enemy of investors"
How is the death benefit calculated on a unit linked policy?,"• The insured amount in case of death is 5,000 lei
• On the date of death, the value of the account is 38,467.82 lei
• Beneficiaries upon death will receive a total allowance in the amount of:
• In the ""sum"" option: 5,000 + 38,467.82 = 43,467.82 lei
• In the ""maximum"" version: 38,467.82 lei"
What is the assumption of investment risk?,"• By assuming the investment risk, the client understands and accepts the fact that it is possible that at the maturity of the policy he will receive less money than he paid"
What happens to the unit linked policy if I stop paying premiums?,"• The policy will continue, including death protection, as long as you have fund units in the account
• The cost of life insurance and administration costs will be deducted from the number of fund units
• When the number of fund units reaches 0, the policy will terminate
• The insurer will notify you of the imminent termination of the policy"
What is the role of the unit linked policy for a family?,"• The unit linked policy has a double role:
• Family protection in case of premature death
• Making a profit, in the long run
• Investment specialists give the following advice:
• Only invest as much as you can afford to lose"
What happens to my money if the insurer goes bankrupt?,"• In this case you may lose some of your money
• But I would like to ask you something…
• How many serious insurers have you heard of going bankrupt?"
Can additional clauses be added or removed?,"• Yes
• This can usually be done on the policy anniversary, on application, and obviously with the insurer's agreement
• If the addition of clauses is requested, the insurer will request the completion of a medical questionnaire
• If he notices a deterioration in health, he will most likely refuse to add new clauses"
Can cumulative benefits be paid?,"• Yes
• If an event is covered by more than one clause, benefits will be paid based on each clause"
How am I compensated if the sum insured is less than the expenses?,"• The maximum compensation you can receive is the sum insured
• That's why I recommend you buy ""enough"" insurance from the beginning
• On the other hand, you will be compensated even if you have not paid a single lei, because the insurer compensates you based on medical documents, and not on invoices"
What medical expenses are covered?,"• Medical tests
• Drugs
• Glasses
• Prostheses and orthoses"
Do allowances paid affect saving?,"• Not
• Protection and saving are independent of each other
• No matter what allowances were paid to the insured during the contract period, if he is alive at the maturity of the policy he will receive the amount specified in the contract"
How is supplementary clauses inflation protected?,"• The inflation protection of additional clauses is done in the same way as for the basic insurance, to which the clauses are attached"
"If I run out of money on a clause, can I still be compensated?","• During the year in which your benefit was paid, no
• But at the beginning of the next insurance year, the clause will be ""refilled"", so you will be able to be compensated again, if necessary
• The exception is the insurance for serious illnesses, which, if you have used up, its effects cease"
"If I am treated in a state hospital, how will I be compensated?","• No matter which type of hospital you are treated in, you will be compensated the same
• For reimbursement of hospitalization or surgical interventions, you will not be asked for invoices, but for the discharge ticket and other medical documents"
What are the major risks?,"• Death
• Total permanent disability
• Serious illnesses
• If you insist on medium risks, you risk hearing an objection like ""Let it go, I'll find 2-300 lei there for a hospital stay...""
• To sell additional clauses, highlight the major risks, which can generate expenses of thousands or tens of thousands of Euros"
"If I have another life insurance policy with similar terms, will I get money from both policies?","• Yes
• You can have as many life insurances as you like, and you will be compensated by each one separately, if there are the same clauses in the policies
• Human life cannot be valued, as is the case with goods or property"
How do you present additional clauses that provide allowances?,"• Additional clauses can compensate for the drop in family income if you die prematurely
• Additional clauses also give you money for treatment and protect your savings"
How do you present the exemption from paying premiums in case of disability?,"• From what source will you pay the premiums?
• Do you work for a salary, or do you receive it as a gift?
• In order to work, the first condition is to be able to work, agree?
• If there were an accident that would make you unable to work, the salary would disappear, but so would the insurance, wouldn't it?
• If the insurance continued, unchanged, being paid by the insurer, what would you say?"
Can the insured sums be changed in the additional clauses?,"• In some clauses, the insured amounts can be changed
• This can usually be done on the policy anniversary, on application, and obviously with the insurer's agreement
• If an increase in the insured sums is requested, the insurer will request the completion of a medical questionnaire
• If he notices a deterioration in his health, the insurer will most likely refuse to increase the sums insured"
What information do you require to offer the additional clauses?,"• Start the discussion from protection needs, i.e. from the cost of treatment in serious situations and continue with medium risks
• If you go with the average risks, the client will say that he will always find a few hundred lei for some medicine...
• Avoid price discussion at this stage"
How do I know the insurer will compensate me correctly?,"• The insurer concludes a contract with you
• That contract must be respected
• Since Romanian insurers pay almost 4 million Euro per day in the form of indemnities and compensations, it means that they respect their contracts"
What happens to clauses when premiums stop being paid?,"• After the grace period, the additional clauses lose their validity
• It is possible for the insurer to accept the reinstatement of the additional clauses, by paying the outstanding premiums and completing a new medical questionnaire
• If the insured acquired an illness or suffered an accident in the meantime, the insurer may refuse to reinstate some of the clauses or reactivate them, but with exclusions"
What are the average risks?,"• Less serious illnesses or accidents, followed by:
• Surgery
• Hospitalization
• Fractures
• Burns
• Temporary incapacity for work"
What is the role of additional clauses for a family?,"• Additional clauses have several roles:
• Provides additional protection to the family in case of untimely death
• Provides the insured with money for treatment in the event of serious illness or disability
• Gives the insured money for treatment in case of less serious health problems"
What are additional clauses?,"• Additional clauses are sickness and accident insurance, which can be attached to the basic insurance
• Some of the clauses may also cover other family members (depends on the insurer)"
What risks do the additional clauses cover?,"• Additional clauses cover two categories of risks:
• Major risks, which can affect the financial stability of the family by depleting savings and/or reducing income
• Average risks, which can affect family savings
• Major risks, respectively medium risks, refer to the financial impact they can have, in terms of the cost of treatment to restore health
• Sometimes average risks, such as a fracture or surgery of medium difficulty, could be covered from family savings
• But the major risks, which lead to the disappearance of income and / or the sudden increase in expenses, cannot be covered from the family's savings
• For a family to overcome the financial problems generated by a major risk, a source of money is needed: and this is life insurance
• It is important that the risks are covered in this order: major and then medium, especially in the situation where the client does not have the money to buy all the clauses"
How do you present the benefits of home insurance?,"• This policy allows you to buy a new home, with comparable parameters and the same level of comfort, if the current one is destroyed
• The policy gives you money to repair or replace damaged or stolen property
• Damage to your neighbors – for example, if you flood them – will be paid by the insurer instead of you
• If a disaster occurs and you are insured, a new home costs you 100 Euros
• Without insurance, a new home costs you 100 thousand Euros
• With approximately 2 lei per day you insure your home
• And dignity in the eyes of the family, if a tragedy occurs"
How do you capture interest in home insurance?,"• An accident can occur in the home... a short circuit... a spark... a gas leak, at your place or at your neighbor's... it's possible, isn't it?
• A fire may occur...or an explosion...or an earthquake
• And in a few minutes it is gone... where in the morning your dwelling was, in the evening you may find a smoking ruin
• There is a solution to this problem and it is called home insurance"
How can you approach a whiny and analytical customer?,"• Some people understand that there are risks, independent of their will
• And responsible people buy various types of insurance to protect their families
• Others think they are safe and unconsciously take unnecessary risks
• Do you agree that no matter how much we want to, and no matter what we do, we cannot eliminate risk from our lives?
• Let's discuss the solutions I can offer you to keep your family safe!"
How can you approach a grouchy and emotional customer?,"• Nothing is accidental
• The fact that fate – or someone else – brought us face to face today may be a sign
• It would be a shame to let the chance slip through your fingers to do something good for those for whom your heart beats
• Many times I have thought that through me someone set out to help people
• Do you know how insurance helps people who are hit by fate?"
How can you approach uncommunicative customers?,"• I greet a lucky gentleman
• I tried to reach you by phone, on WhatsApp... nothing
• You know that you always hear only good things from me
• Now we are face to face and you can no longer refuse me
• Can we talk, price of a coffee?"
How can you deal with stingy customers?,"• I understand that you have no money
• I mean... money to throw away
• Since you paid money on the car policy (example), you realize that the risk exists, don't you?
• This is the most important
• If you don't have a few hundred lei for the insurance you lack, where will the family get a few tens of thousands of Euros to replace what may disappear?
• For example housing
• Or your income
• Or the business"
How can you approach customers always on the run?,"• Always on the run... always with the phone in hand... always between two meetings
• You have car insurance (example), but neither your home nor your income is insured (and neither is your business, as the case may be)
• 10 minutes of conversation can make the difference between a good life and a life full of problems
• Does the family deserve 10 minutes of your time?"
"How do you respond to ""I'm not buying home insurance right now""?","• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again
• In Romania, approximately 7,000 homes burn every year
• Every year several thousand families stay on the road because one of the spouses said the same: ""Not now""
• Do you know how many people come and ask - after - ""And tell me, now nothing can be done""?
• And the answer is tough
• And unique
• Yes; after that, nothing can be done"
"How do you respond to the objection ""I don't need home insurance""?","• But why do you need RCA?
• Because… it can happen, right?
• If you find a ruin in the place where your home is, what will you do?
• Where will you live?
• How will you look your wife and children in the eyes, knowing you could have protected them, but didn't because...?
• After ""because"" what will follow?
• If you need housing, you also need insurance
• Because insurance means housing"
How do you get the information to quote your home insurance?,"• How much money would you need today to build or buy a home like yours?
• How much are the goods in your home worth? (recommendation: 3,000...3,500 Euro per room; for example, with three rooms, the contents are worth around 10,000 Euro)"
"How do you respond to the objection ""I'm looking for you when I want to insure my home""","• When you urgently need a new home, i.e. after a fire or an earthquake, call me for nothing
• Then you will call 112
• I can help you today, when the home is available
• For the insurer to help you when the home no longer exists"
"How do you answer the question ""How much does home insurance cost?""","• It depends on the type and value of the home
• In the case of regular homes, usually somewhere in the range of 100...150 Euros per year
• I want to make a clarification
• In case of total damage, the house costs 100 Euros if you bought the insurance today and the same house costs 100,000 Euros if you didn't buy the insurance today"
What types of group health insurance are there?,"• Group health insurance can be particularly complex, with multiple insurance clauses
• Insurers usually offer insurance packages of varying complexity
• At the same time, in the case of important customers - for example companies with many employees and / or that pay high premiums - special packages can be designed, adapted to customer requirements"
Is the insured's death covered?,"• No, this clause is the subject of another type of insurance, which can complement the group health insurance"
How to proceed in case of an event (accident or illness)?,"• The employee calls the insurer's call center, which will inform him of the steps to follow"
What documents are required to open a claim file?,"• All related medical and fiscal documents: referrals, consultations, medical letters, results of analyzes and investigations, medical records"
What documents and information do you require to offer group health insurance?,"• Complete the specific questionnaire that includes the names and data of the employees and their dependents, as well as the desired coverages
• Details of medical history may be requested in certain situations"
How do you present group health insurance?,"• For a maximum amount of 165 lei / month (400 Euro / year) for each employee, they will be satisfied that they did not take a lot of money out of their pocket to restore their health
• Employees will be able to return to work faster and feel appreciated
• Employees will have access to clinics and hospitals at the insurer's expense, not theirs or yours
• Due to the specific taxation there will be much higher costs if you have to increase their salaries to have the necessary money for possible treatments"
What is the legal regime of group health insurance?,"• It is an insurance regulated by a special law, Law no. 212 of May 27, 2004, with all subsequent amendments and additions
• Premiums are deductible up to the amount of 400 Euro / year / person, so health insurance is a good method of employee loyalty"
How to proceed if employees enter or leave?,"• Since, on the one hand, there is a dynamic regarding employees, and on the other hand, only people employed at the time of the occurrence of the event are insured, you must notify the insurer how many times an employee enters or leaves"
"If we have claims, how do we renew the policy?","• An assessment of the claims situation for the previous year is made and the insurer decides the conditions, namely:
• Renewal under the same conditions as the previous year
• Renewal, but with encumbrances and/or exclusions
• Non-renewal of the policy"
What risks does group health insurance cover?,"• Insurance has many clauses, which are grouped differently and have different sums insured, depending on each insurer
• An enumeration of the most important coverages would be:
• Consultations
• Laboratory tests
• Investigations / imaging
• Preventive control
• Hospitalization for one day
• Telemedicine
• Pregnancy monitoring
• Hospitalization
• Surgery
• Second medical opinion
• Serious diseases"
Why would I take out group health insurance?,"• Because, for a maximum of 165 lei / month, deductible, your employees will be able to benefit from medical services that would otherwise be very difficult or even impossible to access
• Because the private insurance is complementary to the state one, for which 10% of the gross salary is paid, month by month, i.e. at least 330 lei / month (the minimum salary is 3,300 lei)"
What role does group health insurance play for a business?,"• Periodic maintenance and overhauls keep equipment and machinery functional
• Regular check-ups and treatments keep employees fit for work
• With a favorable impact on the business
• And implicitly the profit
• A group health insurance:
• Builds employee loyalty
• Optimizes company costs"
"Why take out the health insurance, if some clauses overlap with those of the subscription, which is cheaper?","• Because the subscription only covers expenses for basic medical services[ (consultations, analyses, partial imaging[), while private health insurance covers much more complex services (complex investigations, imaging, surgical interventions, hospitalization, complex procedures, etc.)
• Also, through the subscription you are limited to a single medical operator, while in the case of group insurance you can call any medical unit, depending on the doctor you are looking for and the existing medical facilities, including abroad"
What is group health insurance?,"• It is an optional system, in addition to the mandatory health insurance, which covers the medical services that the insured can benefit from
• It is concluded by the employer for its employees and, optionally, for their dependents
• Dependents can be husband/wife, children
• In the case of children, the age is between 0-25 years
• The policy has coverage in Romania, but can be extended abroad
• There may be different packages for employee groups (for example, a package for company conditioning, a package for TESA, a package for production personnel, etc.)
• There are insurers that conclude the policy with the completion of a medical questionnaire for each employee / dependent, but also insurers that do not require an individual medical questionnaire
• Insurers have a minimum number of people required to take out the policy (5, 10 or coverage options for 5-10 employees, for 10-50 employees, for 51-100 employees, etc.)"
Can the policy be concluded for several years?,"• No, because an assessment is made of the number and size of damages, according to which the renewal conditions are offered"
What general exclusions does group health insurance contain?,"• The most common exclusions are the following:
• Alternative medicine (eg detoxification treatments, acupuncture, reflexology, podiatry, osteopathy, aromatherapy)
• Epidemics or pandemics"
Can pre-existing illnesses be covered?,"• Yes, on this type of insurance they can be covered, but this involves an additional cost and is covered under conditions clearly specified in the policy"
What is the importance of group health insurance for the intermediary?,"• Due to the increasing interest of employers in offering benefits to employees, other than strictly salary ones, due to the increase in costs related to the restoration of health, as well as the deductibility, more and more employers are looking for alternative solutions, affordable and of interest to their employees
• Therefore, group health insurance is an important source of income for intermediaries
• In addition, the intermediary obtains a list of tens or hundreds of people - that is, insured employees, and possibly dependents, whom he can approach to sell other types of policies, with the aim that each employee's family has enough insurance
• A group health insurance is an important source of income and also a very good source of prospects"
What related services does group health insurance cover?,"• The development of medical services and digitization have given insurers leverage to create systems for the easiest and most convenient use of health insurance
• Specifically, they created several facilities, such as:
• Call center 24/7
• Insurer network direct settlement, which is a default service on any policy, with insurers working to continually expand their own healthcare provider networks
• Dedicated mobile and web applications
• Using a bank card powered by the insurer for advance payments
• Accepting subsequent billing when using out-of-network providers"
How can you use social media?,"• Social media will not produce an explosion of sales
• But if you post consistently, and the posts are quality, they will bring you customers
• You will find something gratifying: the completion rate of requests on social networks is almost 100%
• The explanation comes from the fact that those who contact you as a result of your posts trust you and appreciate you as a professional"
What to avoid posting on social media?,"• Vulgar messages and images
• Messages written incorrectly grammatically
• Băscalie
• Pictures from family life"
What types of messages can you post on social media?,"• Interesting things
• Educational messages
• Beautiful things
• Quality humor"
What can you post on social media?,"• Something to represent you
• Which outline your personality
• To convince someone who doesn't know you yet to want to know you"
How can you use public meetings?,"• Meetings are great opportunities to make yourself known and get new names
• Various exhibitions, conferences, symposia, congresses, seminars, job fairs, etc. are organized in the cities
• The organizers are the Association of Business People, the Chamber of Commerce, the College of Doctors, the Union of Architects, ANEVAR, the Union of Public Notaries, the town hall, universities, various youth associations, various NGOs and many others
• Try to join as many professional and business organizations as possible and follow the calendar of activities
• Try to give and especially get as many business cards, leaflets, brochures, presentation folders and any other materials from which you can get information.
• Try, especially in the case of professional meetings (e.g. doctors, architects, notaries, accountants) or businessmen, to make a short thematic presentation
• For example, if you attend a meeting of business people, you can make a presentation on the topic ""Why insure your business?""
• The actual presentation can be made on slides and should not last more than 5...10 minutes
• At the end you can organize a question session, which also must be within a maximum of 10 minutes
• You can also use a personal presentation roll-up, which you can place next to you, in front of the audience
• BrainO can help you prepare short thematic presentations
• Keep in mind a major advantage of this way of prospecting: there are no constraints given by the GDPR!"
What are the steps to obtain a database from a specialized site (example: termene.ro)?,"• You choose the localities
• Select the companies in operation
• Select the companies that have contact details (phone / website)
• Segment the database (CAEN)
• Download the database
• You copy the information into your database (for example a CRM or Inteligenda)
• Segment the database (CAEN), as follows:
• You choose the field of activity you want to tackle
• Find out the corresponding CAEN code on Google
• Filter the database by CAEN code
• Download the database"
How can you use databases?,"• There are sites where you can get complex databases, with commercial companies in your area
• There are free databases and fee-based databases
• In addition to the fact that you instantly get all the information you need about commercial companies, using databases also has an important advantage: there are no restrictions imposed by the GDPR!"
How can you use specialized sites?,"• Determine a field you want to focus on - for example ""PSI equipment distributor"", ""installations"" or ""general trade""
• Search the Internet for the field of activity you have chosen
• Corroborate the information obtained (company + administrator + telephone)
• Write the information in your personal database (for example CRM or Inteligenda)
• Sounds!
• Important: because you obtained the information from a website, you can call the contact without being exposed to the restrictions imposed by the GDPR
• Attention: in the initial approach to the client, refer exclusively to business insurance"
How to behave to increase your reputation?,"• Speak civilly
• Dress decently
• Be respectful
• Listen
• Keep your promises
• Constantly analyze yourself and try to be a little better tomorrow than today"
What actions can you take to increase your reputation?,"• Learn the role and mechanics of insurance so you can master it
• Learn sales techniques so you can approach any customer
• Work in an organized way so that you can use your time as efficiently as possible
• Serve customers so they feel compelled to recommend you
• Build a network of specialists to consult with and to quickly issue your offers and policies (eg product managers, possibly risk inspectors)
• Attend meetings
• Build an interesting social media profile
• Learn to use digitization: databases, applications, online search, BrainO"
How can you increase your reputation?,"• Everything you do, good or bad, affects your reputation
• Building reputation is an ongoing process, which you can influence through the actions you take and the way you behave"
How can the number of customers increase?,"• The number of customers can increase in two ways:
• Customers are looking for you
• You look for the customers
• The two methods influence each other: the more customers you find, the more customers will look for you"
Why would customers seek you out?,"• Customers look for you because of your reputation
• This is the ideal of every intermediary: to be sought by so many customers that he earns well enough and does not have to prospect
• If you observe the middlemen who earn a lot of money, you will find that most of their time is spent talking to clients and issuing policies, and not looking for clients
• Some of these intermediaries hire a personal assistant to take care of routine work such as issuing compulsory and popular policies and collecting installments"
How can you search for customers?,"• Searching for customers is a laborious process and should be constant
• The period we are going through offers both advantages and disadvantages
• Advantages: communication is greatly facilitated by the level of development of communications, the Internet is an inexhaustible source of information
• Disadvantages: GDPR regulations impose restrictions on access to natural persons
• Knowing these things you can build an effective personal prospecting strategy"
"How do you deal with the ""Not now"" objection?","• It is actually another form of expressing the objection ""I don't need""
• A customer who is aware that the risk exists and can occur at any time does not postpone the purchase of insurance, especially for the most serious risks (death, disability, destruction of the home)
• A: Not now
• Insurance is like a parachute: if you don't have it with you at the right time, you'll never need it again. (propose the meeting)
• A: Not now
• If fire, death, or earthquake reach you before me... You say what will happen then. (propose the meeting)
• A: I look for you when I need it
• I understand you... Only when you need it you will have to call 112, not me. I can help you today, when you are healthy, have a home, maybe a car... I mean a good life (proposes the meeting)"
"How do you deal with the ""I don't need it"" objection?","• A: I don't need it
• You, today, have alternatives. My role is to help you have alternatives even after a possible tragedy. (propose the meeting)
• A: I don't need it
• Now you are leading a good life, because you have a comfortable home, a salary and you are probably healthy. Or exactly these are the topics we will address. (propose the meeting)
• A: I have insurance
• Is OK. I expected you to have insurance. Many of my clients had insurance when we met, but found they were underinsured. In this case our discussion will be shorter and you will only gain from it. (propose the meeting)
• A: I have an agent
• Is OK. If we deduce that you have enough insurance, you will congratulate him. And if not, I will propose solutions that he did not propose. (propose the meeting)
• R: What the Lord will give, with good and bad...
• That's right... God gives us everything, both good and bad, as you say... And then it means that God also sent me to you today (proposes the meeting)"
How do you deal with objections that never stop...?,"• A: No... No... No...
• Considering you are so vehemently opposed, education tells me to give up, but experience tells me to continue. How do we proceed?
• A: Leave it, you don't care about me... you care about your commission
• Frankly, I, with or without a policy, am neither richer nor poorer... but your family, without the right policy, can become very, very, very poor... (propose meeting)
• A: I said NO!
• Is OK. I will give up, at least for now. Please tell me, do I have your consent to come back with a phone in 3 months?
• Once a month I send clients interesting information in the field of risk. Would you like to receive them too? If you like them, you can also send them to your friends. If not, you can unsubscribe
• A customer lost today is not necessarily a customer lost forever
• The customer who refused you today may have an accident tomorrow... his neighbor may flood... he may find out about a colleague who has contracted leukemia... he may be hit by a driver without RCA... he may find out on TV about a calamity, about people suffering... there may be a fire near the home... etc.
• Any information about a risk will be associated in the customer's mind with who you are and what you said on the phone
• What did you say to him on the phone?
• That risks can occur at any time and it would be good to insure
• On your next call he will accept the appointment
• Or he will call you himself, earlier
• An insurance intermediary must be present in the life of every family
• Must have a discreet but constant presence
• Because risks are also present throughout life"
What are the rules of the telephone approach?,"• Respects the stages of the approach scenario; each stage has its purpose and if you skip it, the chances of success decrease
• Build a universal approach scenario; use BrainO's recommendations and prepare a scenario that suits you
• Be prepared for objections; prepare a set of your own responses to each objection
• After answering the objection, propose the meeting; otherwise you give the client the time to come up with another objection
• Speak loudly, clearly, with intonation, use pauses; voice is the only weapon you have in the telephone approach
• Fit in 1-2 minutes; if the client initiates debates, suggest that you continue the discussion at the meeting
• Finds a balance between politeness and insistence; one without the other has no effectiveness
• Requests feed-back; ask a colleague to listen to you and tell you what you are doing well and what you are not doing, in his opinion
• Immediately after the conversation, write the result in the work agenda, preferably in electronic format (BrainO can offer you a powerful tool - Inteligenda); otherwise you will forget the result of the discussion
• The result contains the name, phone number, date and time of the meeting, other specific details"
What is the specificity of the telephone approach?,"• Because Romanians are not used to taking care of themselves, they are reluctant or even hostile when approached by an insurance intermediary
• The telephone approach is an activity with a high nervous consumption, which generates discomfort
• The fact that you anticipate being turned down, sometimes even in a cheeky way, creates a stress that many brokers are not willing to accept
• But it is not possible without a telephone approach
• Without the telephone approach of some potential customers you will not reach the receipts or the income you dream of
• The telephone approach is included in the price you pay to receive commissions of 10...20...30% on optional insurances"
"How do you solve the ""I don't have money"" objection?","• Most often it is also a form of expressing the objection ""I don't need""
• A client who is aware that the risk exists and can occur at any time will find resources to buy insurance, especially for the most serious risks (death, disability, destruction of property)
• A: I have no money
• How can I tell you... If today, when you are healthy, earn money, have a home, you say you have no money, then after a tragedy what will it be like? (propose the meeting)
• A: I have no money
• I understand you don't have money to throw away. Which is great, because it means you know the value of the penny. And this is exactly what I propose to talk about, how to protect what you have – house, income, savings. (propose the meeting)
• Don't fall into the trap of saying ""But I don't want to sell you anything""; of course you want to sell!
• Forget expressions like ""I just want to get to know each other"", ""I just want to see what policies you have""; don't start the relationship with lies...
• Don't make the mistake of saying - from the phone - ""Well, I can offer you cheap insurance, the cheapest on the market""...
• In this way you will compromise yourself in the eyes of the client, who will automatically put in your mind the label ""Another who wants to fool me. I don't need him!""...
• ... or, if you come across a customer with a toupee, you risk hearing: ""Ah, yes? Do you have cheap insurance? That's great! Send me one for 100 lei""
• What are you doing then...?"
What mistakes to avoid in the telephone approach?,"• In the telephone approach, your main ""weapon"" is your voice; use it as effectively as you can:
• Thus:
• Each of these mistakes is an additional reason for refusal
• If your phone approach doesn't work, the reasons are more than likely to be found in this list
• To be successful, re-read and apply what BrainO teaches you about the telephone approach
• Try to (self) evaluate the way you do the telephone approach
• You can do it in two ways:
• Ask someone - a colleague or family member - to give you feedback
• Install a call recording application on your phone and listen to every call, both successful and unsuccessful; then repeat and perfect what you did well and correct what you did wrong
• And subsequently delete the records because you do not have the written consent of the customer to record it
• If you were bothered by the excessive repetition of the word ""avoid"", this is yet another proof that you need to be very careful about what you put in your mouth
• One more word can mean one less customer"
What are the objectives of the telephone approach?,"• The telephone approach has a main objective and a secondary objective:
• The main objective is to schedule an appointment
• The secondary objective appears only if the main objective has not been reached, and consists of obtaining information for bidding"
What is the exception where you can mention a product over the phone?,"• You can mention a product when you call for referral and you were told that the customer is interested in a certain type of insurance
• Example of presenting the purpose:
• I am from Mr. Popescu, our mutual acquaintance
• Did Mr. Popescu inform you that I will call you?
• All right
• I know you are interested in home insurance, is that true?
• Perfect
• To develop an insurance solution I need some information
• Is it okay if I write you on WhatsApp and you reply like that?"
How do you handle objections to the telephone approach?,"• Your call may drop at an inopportune time
• Developing the ability to resolve telephone objections is vital; if this link is weak, the entire sales chain breaks
• ""You don't make spring with a flower"", and you don't make a portfolio with a phone...
• The development of the ability to solve telephone objections is strongly influenced by the volume of approaches; only hundreds of approaches will make you master this activity
• BrainO is a good trainer, but he can't play for you
• The telephone conversation is a stage prone to objections; why?
• Romanians disregard insurance
• The customer does not know you"
"How do you resolve the ""I don't trust"" objection?","• A: I don't trust insurance
• I understand you. It was the same in my case. Now, after helping dozens of families, I know what it means to have enough insurance. (propose the meeting)
• A: I don't trust insurance
• You see... after an earthquake there will be two categories of people: some who will receive money for a new home and others who will wonder who and why they didn't trust. Millions of people around the world trust us. Why wouldn't you have? (propose the meeting)
• A: I had insurance and... I wasn't satisfied...
• I understand you. There is no forest without dry areas. It just means that you have to be careful in whose hands you leave your family's financial security. (propose the meeting)
• A: I heard that someone suffered... did not receive... was dissatisfied...
• I understand you. The person you heard this from may or may not be right. But in any case he will not pay you tens of thousands of Euros in case of damage. Only an insurer will. (propose the meeting)"
In which situations is it good to prepare your visit to the client?,"• Always, in the case of legal person clients, and sometimes, in the case of natural person clients"
In which situation is it good to prepare your visit to a natural person client?,"• Most of the families you will talk to fit into a standard profile: they have a home, their spouses have salaries, they have one or two children, they have a car
• Which means that the insurance needs of a middle class family are quite similar
• Such a family needs home insurance, life insurance, RCA, possibly casco, and may want to save for the long term
• Therefore, discussions with a family member are quite predictable, especially after you have a few hundred sales discussions under your belt
• However, there are also situations where individual clients require a specific, more nuanced approach
• It is usually the case of employees who have high salaries: corporatists and certain categories of budget workers
• On the one hand, these people have more complex insurance needs, because they usually own more properties, more cars, spend a lot of time abroad, may be inclined to save or invest for the long term
• On the other hand, it is possible that they already have one or more insurance policies, either because they have taken out loans, or because they have been in the sights of other intermediaries, or because they understand the need for insurance protection
• These customers are usually demanding and have high expectations from insurance intermediaries
• They won't buy policies from just anyone, but the effort to sell them enough insurance will pay off handsomely in the long run
• They are what we can call ""golden customers"""
Why is it good to prepare your visit?,"• To increase the chances of selling policies
• Preparing for the visit:
• You will make a good impression and thus gain the client's trust more easily
• You will know what to say to the client in order to arouse his interest
• You will more easily detect the ""hooks"" that the client will offer you
• You will anticipate some specific objections and prepare your answers"
What will the long script contain?,"• Prioritizing insurance needs
• Awareness of insurance needs
• The long scenario will contain the multi-risk analysis of the business, namely:
• Obtaining information for bidding"
Why is it good to know the field of activity in advance?,"• Because you can anticipate what are the major risks that can affect the business
• You can think about what type of insurance you will be able to propose and what ""hooks"" you will use
• You can consult with specialists from the technical departments of insurers, to know how to solve the problem - what are the possible coverages, what are the limitations, exclusions, what are the underwriting conditions, what information is needed for the offer
• You can prepare examples (for example a case study of damages from his field of activity) to capture the client's interest"
"Why is it good to have some ""hooks"" in advance?","• ""Hooks"" are nothing more than potential business insurance needs
• By anticipating these insurance needs, you will be able to create a scenario for approaching the client so that, on the one hand, you capture his interest and make a good impression, and on the other hand, you are efficient and do not get lost in sterile discussions"
What will the short script contain?,"• Finding out the insurance needs that the client is already aware of
• Obtaining information for bidding"
How do you prepare your visit to a natural person client?,"• If the person has been recommended to you, find out as much information as possible about their family situation, about their properties and possible purchase plans, about their income level, about their hobbies and about how they spend their holidays
• Regardless of how you obtained the contact data, try to find out from social networks everything that could be useful to you, so which could represent ""hooks"" for the sale of insurance:
• If they post pictures of the villa they live in, the ""hook"" can be the comfortable life of the family
• If they post pictures of an expensive car, the ""hook"" can be comfort or social status
• If they post pictures from exotic destinations, the ""hook"" can be the quality of treatment in case of an accident abroad
• If they post pictures of children, the ""hook"" can be the children's education"
Why is it good to know the size of the business in advance?,• Because you can anticipate whether the solution will be an SME policy or a corporate policy and therefore you will know what questionnaires to take with you and whether the risk inspection is mandatory or optional
"How do you prepare your ""hooks"" for the short version?","• A ""hook"" with which to quickly capture the interest of a businessperson in a hurry must contain a certainty about the business in question, therefore an information of interest, which can lead to a need for insurance
• Examples:
• ""I know that during this period your insurance expires [...]""
• ""I found out that you plan to expand your business""
• ""I read on the net about the accident that took place [...]""
• ""I know that your clients / partners / associates require you to take out an insurance of [...]""
• The information recorded in CRM or Inteligenda, obtained in prospecting stages"
What mistakes to avoid in the awareness stage?,"• The need awareness stage is critical, especially with new customers
• Being, often, the first discussion with the client, he is curious, if not suspicious, regarding the intermediary
• The client tries to read you and realize, first of all, if you are a serious and reliable person
• Mistakes made at this stage have a high price: the future of the customer relationship
• If he assumes that you are not a trustworthy person, he will not buy from you; that is, he will not give you his money
• Examples of common mistakes:
• If the first conversation with the client is also the last, without having managed to sell him a policy, you have probably committed - and you - at least one of the above mistakes..."
How can you introduce yourself?,"• Choose from the phrases below the ones that represent you and by combining them build an impactful personal presentation:
• I have been working in insurance for... years and specialize in family and business insurance
• Clients appreciate me because I help them be and feel safe
• They know that thanks to me and the company I represent, they are well protected against risks
• I'm one of the best consultants in the firm (only say this if it's true and you feel comfortable saying it)"
Why is it good to introduce the purpose of the discussion?,"• Customers usually expect an insurance broker to start raving about their products - which are obviously the best - and their prices - which are obviously the lowest
• To refuse him, for various reasons...
• If you state the purpose of the discussion, you will surprise the client and at least he will become more curious to listen to you
• Which means a step forward"
Why is it good to present your work strategy?,"• Customers are not used to being asked questions, especially uncomfortable or thought-provoking questions
• They are used to being presented with products: ""We have..."", ""It's the best..."", ""It's the cheapest..."" etc.
• But making a client aware of the risks is done by asking questions that may create temporary discomfort; nobody enjoys discussing troubles
• But ignoring risks does not mean eliminating them
• That is why it will be easier for you if you familiarize the client with the fact that you will ask him questions"
"What are the advantages of using the ""three-legged table"" method?","• Using this technique helps the client to be aware of most, or sometimes even all, of the risks they are exposed to, and not just the ones they suspect, such as crashing your car or being flooded by your neighbor
• The client understands the risks to which he and his family are exposed, and subsequently chooses the one that worries him the most; it may be a risk he never even thought about until he talked to you
• ""360°"" awareness of the risks to which the client is exposed allows the intermediary to sell optional, complex insurances, therefore insurances with high added value"
Why is it good to do a personal introduction?,"• Self-presentation is not about saying your name, but about stating, with certainty and self-confidence, who you are as a professional
• Asserting, from the beginning of the conversation, your status will place you on the same level of power as the interlocutor, even if you are talking to a rich, influential and full of himself businessman
• Your interlocutor will understand from the start: in his field he is the specialist, but in the field of insurance you are the specialist
• Otherwise you risk feeling small and humble in front of a client with a strong personality"
How can you present your work strategy?,"• In order to be able to recommend the right solutions, I need to understand your family's situation as well as possible
• That's why I'm going to ask you some special questions that I ask all my clients
• You can draw a parallel with a medical consultation; and the doctor, before prescribing your treatment, asks you about your health status
• I will do the same, only we will discuss the financial security of your family
• Please ask me whatever you feel the need and whenever you feel the need
• Is OK?"
"What are ""hooks""?","• ""Hooks"" are keywords from which you can deduce what the customer is concerned about
• ""Hooks"", uttered unconsciously, often express whatever is really important to the client
• If you tie these ""hooks"" to the idea of ​​risk, the client will be much more willing to protect himself with insurance
• Your mastery will be to detect and take the ""hook"" and get close to a risk that worries the client"
Why is it necessary to ask awareness questions?,"• An insurance, of any kind, produces its effects only when a risk has occurred
• For the client to imagine the consequences of producing that risk, and especially to imagine how he will feel then, awareness questions are needed
• The role of awareness questions is to make the client feel what he will feel in reality when a risk occurred: when his house burned down, when he got cancer, when he hit a pedestrian, etc.
• And how will he feel when he looks into the eyes of his loved ones, after the misfortune happened...
• If he understands what is waiting for him, the client will understand that he needs to make sure
• Having enough insurance is good for the whole family"
What stages does the customer go through in the awareness process?,"• First stage - ""I ignore the risk because I am sure that nothing can happen to me""
• The second stage - ""The risk exists, but I don't think I will suffer something myself""
• The third stage - ""The risk exists, but if it occurs, then I find a solution on the spot""
• Fourth stage - ""I am concerned about this risk and need to protect myself""
• Most Romanians are in the first stage
• Your role is to ""push"" the client to the fourth stage
• This pathway is called awareness of insurance needs
• Attention!
• Protection needs exist, they are objective, regardless of the client's perception
• Why?
• Here is an example:
• Everyone needs a home, right?
• Yes
• Is there a risk that the home will be destroyed?
• Yes
• If the home is destroyed, will the client and his family need a new home as soon as possible?
• Yes
• Other than insurance, where can you get a large amount quickly?
• Out of nowhere
• So does the client and his family need home insurance?
• Yes"
Why is awareness of protection needs needed?,"• Awareness of protection needs is needed because Romanians are not used to taking care of themselves
• If his home is destroyed, the Romanian expects the ""state"" to offer him another...
• In order to have a decent pension, the Romanian expects the ""state"" to offer it, without asking other questions, for example where the money comes from...
• And to escape from any trouble, the Romanian knocks on wood or says ""God forbid"" and considers himself protected
• The Romanian is not aware that risk is a certainty in our lives"
"What are the stages of the ""three-legged table"" method?","• Each of the stages has an important role
• Whichever step you skip, it will be harder for you to reach your goal"
How can you present the purpose of the discussion?,"• The purpose of our discussion is to help you understand the risks you and your family (and possibly your business) are exposed to, so that you can make the best decision for your family's safety
• The optimal decision means that whatever risk occurs, your family is protected
• Will the life of the family after the occurrence of the risk be the same as the life now...?
• Some clients follow my advice, and others postpone or refuse, and then take unnecessary risks
• No one ever suffered because they had ""too much"" insurance, but many have suffered because they lacked the right insurance"
What rules are important in the awareness stage?,"• Listen carefully to what the client says or answers; that's the only way you'll understand it
• Look for ""hooks"" and fructify them; they will help guide the discussion to completion
• Look at the interlocutor; you will also notice what he thinks but avoids saying
• Speaks in the client's understanding; you are not there to impress him, nor to upset him, but to convince him to buy insurance
• Use pauses to emphasize important ideas
• Write down important ideas; otherwise you will forget them"
"What does ""benefit"" mean in insurance?","• When you buy a product or service that you want, the benefit is joy...pleasure...well-being...delight...delight...comfort...luxury... the pride...
• But when you buy insurance, what is the benefit?
• You keep the insurance policy in a drawer or in a folder on your laptop...
• You don't enjoy it, you don't admire it, you don't use it, nobody sees it, you can't brag about it...
• And this can take years on end…
• So why do you buy it?
• An insurance takes a burden off your shoulders
• When you bought an insurance policy you breathe a sigh of relief
• The benefit of insurance is the feeling of security
• You have not added something to your life, but you know that you will not lose something from your life
• In order for the client to feel this relief by buying the policy, he must first be aware of the fear of losing something he cares about
• That is why awareness of risk and insurance needs must precede the presentation of benefits
• By being aware of the risks you generate discomfort, by selling the policy you eliminate the discomfort"
What are the advantages of submitting insurance solutions online?,"• The main advantage of online communication is the saving of time; sending a message takes a maximum of 1-2 minutes
• The second advantage is the possibility of rereading the message
• Last but not least, reducing the number of omissions and errors, by using communication templates"
How do you list death insurance?,"• No one can replace either the spouse or the parent
• Unfortunately, the disappearance from family life brings with it another trouble - the disappearance of income
• No one cares what happens to their loved ones
• Every adult who loves his family makes sure that they are well, even in good times, but also in case of...
• You think and feel the same way
• That's why you want to buy a death insurance, by which you leave the family the sum of... lei
• In this way, in case of premature death, your wife will receive, immediately, in advance, the equivalent of your salaries for... years
• Make this gesture knowing that you, personally, will never benefit from this policy
• But it will mean invaluable help and brighten the days of loved ones, if a tragedy occurs"
How do you communicate insurance solutions to the client?,"• We are in the 21st century, in the midst of the era of digitization
• You can take advantage of digitization to deliver insurance solutions online
• Or you can choose the usual method of presenting solutions to clients in a face-to-face discussion
• Each method has both advantages and disadvantages"
How do you present the unit linked policy?,"• If you are willing to take a risk, you can invest some of your savings in the unit linked policy
• The insurer will invest your money in the funds you choose - riskier or less risky - and at the maturity of the policy you will receive the amount resulting from the investments
• You can reduce the investment risk through a long investment duration of over 20 years
• You will also be able to invest any additional savings that occur during the contract
• I recommend making additional payments when fund units are cheap"
How do you present additional life insurance clauses?,"• Additional clauses can compensate for the drop in family income if you die prematurely
• Additional clauses give you money for treatment and protect your savings
• Next you use the ""domino principle"" to explain the benefits of the exemption clause from paying premiums in case of disability
• From what source will you pay the premiums?
• Do you work for a salary, or do you receive it as a gift?
• In order to work, the first condition is to be able to work, agree?
• If there were an accident that would make you unable to work, the salary would disappear, but so would the insurance, wouldn't it?
• If the insurance continued, unchanged, being paid by the insurer, what would you say?"
What rules are important when presenting solutions?,"• Insists on covering major risks (death, disability, serious illness, home destruction, business destruction, damage to third parties), as the case may be
• If the client is concerned about certain risks, major or minor, mention them; it is what ""hurts"" him and pushes him to insure himself
• Speak clearly, briefly and to the point
• After each important topic check what the client understood
• From time to time ask for confirmations from the client
• Pay attention to buying signals and if you notice them, propose to complete the sale!
• Dribbling is important, but the goal is to score goals!"
How do you introduce mixed life insurance starting to save?,"• At the maturity of the policy you will receive the guaranteed amount, plus an additional gain, money that you will use with your children and grandchildren
• If you disappear prematurely from family life, your loved ones will immediately receive the same amount
• It is important to remember that whatever happens to you, the same amount of money goes into the family"
How do you present your home insurance?,"• This policy allows you to buy a new home, with comparable parameters and the same level of comfort, if the current one is destroyed
• It also gives you money to repair or replace damaged or stolen goods
• Moreover, any damage caused to your neighbors – for example, if you flood them – will be paid by the insurer, instead of you"
What are the stages of the oral presentation of insurance solutions?,"• In order to understand why he needs a certain insurance, the customer must first remind himself that... he has a certain need
• Therefore, before presenting the solution you propose to him, it is good to recapitulate the insurance needs of the client and his family"
How do you present the savings plan for the child?,"• The child will receive the amount of... lei at maturity, no matter what happens to you:
• May you be with him, and celebrate together
• Whether a misfortune took you away from your family
• In this tragic situation, your wife will receive, immediately, once again, the same amount that the child will receive at maturity (if the insured's death clause was attached)"
How do you introduce joint life insurance starting with protection?,"• Throughout the duration of the policy, starting from the first day, your life is insured; if you die prematurely, your loved ones will immediately receive, in advance, your salaries for... years
• If you will be with your loved ones when the policy matures, receive the sum assured and enjoy with them
• It is important to remember that whatever happens to you, the same amount of money goes into the family"
How do you present business insurance?,"• The SME policy ensures the reduction of losses in the event of a risk, by compensating for damage to the building or its contents: stocks, machinery, etc.
• The business interruption clause provides you with the financial support for restarting the business, by covering fixed costs, including additional ones, as well as partially unrealized profit
• The policy also covers any damage caused to third parties – bodily injury or material damage, thus protecting the company's reserves and assets"
What are the advantages of verbal presentation of insurance solutions?,"• Visual contact, so the possibility of influencing the client through non-verbal language (mimicry and gestures) and para-verbal language (voice)
• Ability to respond on the spot to the client's questions and objections
• The possibility to ""read"" the client"
"How do you deal with the ""Not now"" objection?","• This objection actually sounds something like this: ""I'm sure there won't be an earthquake tomorrow, I'm sure there won't be a fire, I'm sure I won't make any mistakes, etc.""
• Earthquake, fire, mistake will be possible only the day after tomorrow... ... ...
• Absurd, isn't it?
• The risk is unpredictable; it can happen today, tomorrow, in 11 years or maybe never
• But if it occurs, the consequences can be serious; very serious
• A client who makes this statement needs to be ""shaken"" a little, in the sense of reminding him that the risk is a certainty; it cannot be undone, no matter how foresight you are"
"How do you deal with the ""I don't need it"" objection?","• Is it a real objection?
• Obviously not
• Do you need a house to live in?
• Do you need income?
• Do you need a car to get around?
• Do you need a source from which to cover unexpected payment obligations?
• Is risk a certainty in the life of each of us?
• Could producing a risk result in the destruction of the home, loss of income, destruction of the car, the appearance of payment obligations?
• The answer to each of these questions is ""Yes""
• And then it is obvious that every man needs insurance
• Not one policy, but several, which would provide him and his family with enough insurance
• So the objection ""I don't need insurance"" is a false objection
• It usually masks the objection of distrust"
"How do you solve the ""I don't have money"" objection?","• Is it a real objection?
• Yes (1%) and no (99%)
• There may be temporary, transient situations in which the family has few financial resources: for example in the days preceding the salary or in case of illness of a family member
• Most of the time, however, it is a false objection, which actually masks distrust"
"How do you find out the real objection by ""ask and find out""?","• Ask
• You ask the client to say what is on his mind
• Here are some examples of clarification questions:
• Is it just me or is something bothering you?
• I sense that you have a grievance; this is true?
• I'd like to move on, but I can tell you have something on your mind...what is it about?
• Your look tells me that something is wrong; I'm here to help you, so... I'm listening
• My flair says that something is bothering you and I can only help you if you are honest and tell me what is bothering you"
The client turned you down and nothing really happened to him; so was he right to refuse you?,"• It is a very common situation
• The client refuses, months pass, nothing happens to him, and he concludes that he is invulnerable and therefore does not need insurance
• Is this conclusion logical?
• Not
• The only logical conclusion is that he was lucky in the past
• Are you right that he doesn't need insurance?
• Not
• Are you abandoning him?
• Not
• You persist, because... risk is a certainty in our lives
• The risk is unpredictable, so it can occur at any time
• And it is vital that at that time the family has the right insurance
• BrainO offers you various methods and scenarios for customer awareness (""warming up""), including online"
What is an objection?,"• An objection is a way of expressing dissatisfaction or concern
• Some customers, when they have a doubt, ask
• Others, when they have a concern, prefer to object, so as not to appear ignorant...
• If there were no objections, agents would probably sell many more policies….
• ... but the commissions would be much lower
• From the client's perspective, the objection is an indirect way of saying: ""Convince me!"""
If the insurer leaves the country?,"• If an insurer leaves the country - as has happened in a few cases - it sells its portfolio to another insurer
• The new owner of the company keeps the terms of the insurance contracts in force"
How do you recognize an objection?,"• An objection can be transmitted directly, i.e. verbally, or indirectly, i.e. through tone or non-verbal language, i.e. through facial expressions or gestures
• To ensure that you resolve the real objection, you need to get the customer to say what's wrong with them, not just imply that they have a grievance"
"How do you find out the real objection by the ""shut up and find out"" method?","• The client nods implicitly; it is clear that something is bothering him
• What the?
• Shut up and wait
• If you're patient, it's possible that at some point the customer will say something like:
• ""Who the hell can you trust anymore? Can't you see I'm going bankrupt one after another?""
• ""Why should I pay money for insurance? This block is a dump, it didn't even have a damn earthquake"""
How do you deal with customers who resent your insistence?,"• Sometimes clients react badly to the intermediary's insistence
• Why?
• Because Romanians are not used to taking care of themselves and perceive your good intentions as something contrary to their personal interests
• In this context, how much should you insist?
• As in everything, you have to find a balance:
• If you insist too little or not at all, the client will be underinsured and you will lose out on commission - in that order!
• If you insist too much, the customer will get angry and break the relationship with you
• So?
• Insist long enough that the customer understands they are underinsured, but not so long that they stop answering your phone"
"How do you resolve the ""I don't trust"" objection?","• Is it a real objection?
• Surely
• It is one of the most frequent objections
• Can be caused by problems in the insurance market (bankruptcies, late payments, etc.), negative personal experiences or rumors
• The resolution of this objection can be done by offering some arguments, which the client cannot deny"
How do I know that the company will still exist in 20...30 years?,"• You have no way of knowing
• And no one has any way of knowing
• Have you heard of Aviva, Axa, Eureko...?
• These insurers were active in Romania, after which they withdrew
• Today, the policies concluded with these insurers are administered by other insurers, by keeping the conditions of the insurance contract
• An insurer exiting a market does so by selling its portfolio
• The insurance conditions do not change by changing the insurer
• So you have nothing to worry about"
How do customers express their dissatisfaction?,"• Verbal: They make negative statements or ask mean questions
• Paraverbal: phrases are spoken in an ironic or aggressive tone; or, on the contrary, the client is silent
• Nonverbal: I make gestures with my hand or shake my head in disbelief, look askance or sneer implicitly, with the meaning ""Let me know..."""
What if the insurer goes bankrupt?,"• How many insurers have you heard of going bankrupt?
• If you mean Astra, Carpatica, Euroins and City, these companies had a common denominator: they practiced dumping prices in RCA
• And three of them had Romanian shareholders
• To reduce this risk, choose a strong insurer
• Some of the strongest and most experienced insurers in Europe operate in Romania"
When does the sale need to be completed?,"• When the customer is about to buy, but hesitates to say so
• How do you know that the customer is about to buy?
• The customer is one step closer to completing the sale when they send buy signals, ie…
• ... ask specific questions about the policy - what coverages it contains, how to pay, how to proceed in case of damage, how to proceed with renewal, etc.
• ... browse the insurance offer and conditions and ask for explanations
• So it's time to ""push"" the sale"