IC38 Chapter 2 Notes

Table of Topics



Customer Service :

Customers provides the bread and butter of a business and no enterprise can afford to treat them indifferently.

The role of customer service and relationships is far more critical in the case of insurance than in other products.

Because Insurance is a Service. Insurance is a Intangible good.

It is necessary for insurance companies and their personnel, which includes their agents, to render high quality service and delight the customer.

Customer Service and Insurance:

The Secret for success in insurance sales is commitment to serving their Customers.

Customer lifetime value may be defined as the sum of economic benefits that can be derived from building a sound relationship with a customer over a long period of time.

Insurance agent’s role in providing great customer service

  1. i) Point of sale – the 1st point for service is the point of sale. The agent should be able to understand the needs and suggest products whose benefit features are best suitable. The role of an agent is like a personal financial planner and advisor.
  1. ii) Proposal stage – the agent has to help customers in filling the proposal form. It is

important that the agent explains and clarifies the proposers doubt while filling the form.

iii) Acceptance stage – the promptness of agent in handing over FPR to customer develops surety in customers mind. Delivery of policy bond is another major opportunity.

  1. iv) Premium payment – agents can be in continuous touch with their customers through reminder calls for premium due‟s in order to avoid lapsation of policy.
  2. v) Claim settlement – agents play crucial role during claim settlement by providing policy holder details required during investigation stage.
Related Material  IC38 Chapter 13 Notes

Communication skills – One of the most important set of skills that an agent needs to possess for effective performance is soft skills. Sift skills relate to one‟s ability to interact effectively with other workers, customers. What goes in to making of a good relationship is TRUST that you generate in your customers mind through – Attraction; Being Present; Communication.

Communication can take place in several forms – Oral; Written; Non-Verbal; Body Language.

Elements of effective listening – paying attention, providing feedback, responding appropriately, empathetic listening and not being judgemental.

Non Verbal Communication :

  1. a) Making a great first impression

Be on time always

Present yourself appropriately

A warm, confident and wining smile.

Being open, confident and positive

Interest in the other person.

b.Body Language – refers to movements, gestures, facial expressions. The Way we talk, walk, sit and stand.

Listening skills :

Active Listening:

Is where we consciously try to hear not only the words but also, more importantly, try to understand the complete message being sent by another.

  1. Paying Attention
  2. Demonstrating that you are listening – Use of body language plays an important role here.

iii. Provide feedback

  1. Not being Judgmental – Such judgmental approach can result in the listener being unwilling allow the speaker to continue speaking, considering it a waste of time.
  2. Responding appropriately
  3. Empathetic listening – Being empathetic literally means putting yourself in the other and feeling his or her experience as he or she would feel it.
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