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Trichy, Tamil Nadu, India
Working as an Assistant in LIC of India, Rockfort BO, Trichy, TN. Having a strong belief that LIC's welfare is our welfare and always trying to work towards that. Also functioning as an office bearer of AIIEA Thanjavur Division.

Tuesday, July 6, 2010

Bandh is also an opportunity for LIC Agents!

Bandh is also an opportunity for LIC Agents!
Insurance agents reap dividends on bandh days

KOLKATA: Did you know life insurance agents find bandh days, such as the one on Monday, the best time for client prospecting. And the serious ones make sure they meet as many clients as they can on such days. Prospective clients lend a very attentive ear to agents on such days.

“This is generally not the case on any other normal day or even on a holiday when prospective clients have pre-occupations and a host of other things on their mind. On bandh day, they are normally free and listen to our presentations very attentively. Conversion rates (policies sold) are higher than other days and we do not miss the opportunity of meeting as many clients as possible on such days,” says Ranjan Bandhyopadhyay, a Life Insurance Corporation’s agent.

For example, this Monday, when the entire state came to a halt, Ivy Dutta Roy took off on her scooter and met a number of clients near her locality. “I managed to strike deals with as many as five clients and that’s a very high conversion rate compared to any other day. Banking activities also come to halt on these days but, that doesn’t stop us from collecting first premium cheques and depositing them the next day,” she said.

Senior Life Insurance Corporation officials say total conversion ratio on bandh days is obviously smaller than any other day, but the ratio for those who are working is higher. Not all agents work during strikes, but there is one category who do all their client interaction over phone or through the internet. There are other’s like Ivy and Ranjan who refuse to let go of the opportunity that a bandh day presents.

Subhasish Ghosh, senior VP at Kotak Mahindra, says: “There is a group of clients who actually miss going to office on such days. They are the ones who wouldn’t mind doing some serious financial planning even if that’s personal work. At least, they get to do some serious planning for the future. These are the ones we find most prospective. They lend a very attentive ear to our agents and if the advisors present the right product, based on the persons profile, they generally are game.”

A development official from Life Insurance Corporation says: “I keep tab on a few of my agents during a bandh day, help them with tips and suggest products for clients from home on phone, since I may not be able to travel physically to the office or with them.”  

6 Jul 2010, 0539 hrs IST,Debjoy Sengupta,ET Bureau

Source: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/Insurance-agents-reap-dividends-on-bandh-days/articleshow/6133117.cms


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