Transcript A solution for his needs - ICICI Prudential Life Insurance

iSolutions
This presentation is strictly for internal circulation
and/or for training/ education of employees/
advisors/ corporate agents/ brokers of ICICI
Prudential Life Insurance Co. Ltd. Should not be
further circulated/ used for presentation to a
prospect/ general public.
“
Customer is not interested in
complex product details
Customer is interested in…
A solution for
his needs
”
that is easy to
understand
“
Customer is not interested in
complex product details
Customer is interested in…
A solution for
his needs
”
that is easy to
understand
Customer needs
Retirement
Child education
“
Customer is not interested in
complex product details
Customer is interested in…
A solution for
his needs
”
that is easy to
understand
Addressing the
need in simple
way in our
context …
Case study…
Meet Arun, Sales person at ICICI Prudential
It’s end of June and Arun is having a
performance review with his manager
Performance Snapshot
Calls made to leads
750
Appointments generated
25
Policies Picked up
2
Arun’s performance review
Sir…I tried hard but..
Arun, why did
you fall short
of your target?
the markets are
not doing well
Customers not
interested
Nothing new to
offer
Arun’s performance review
Arun, I understand, but we need to achieve
our targets in July. There is something new
that can help you…
Training Paathshala
Solutions
Show training room set-up
training
Focus on “Need Based Cash Flows”
Solution based on customer need
What you get
What you pay
Age 45
Age 55
What you pay and what you get
Death
Age 60
Guess the need?
Retirement
Simple cash flows connect instantly with customers
Focus on “Need Based Cash Flows”
Another example
What you get
Age 16
Class 10th
Age 23
Higher Studies
Age 18
Class 12th
Age 21
Graduation
Age 5
Class 1
What you pay
Guess the need?
Child education
Simple cash flows connect instantly with customers
Customers want
to know product
details
Customers want
information about
returns, features,
etc
Customers can’t
be convinced by
such a simple
pitch
I need to show my
grasp of financial
terms to convince
customers
Ok, this is the
pitch. But what do
I say next?
Do you have
similar doubts?
Arun meets his manager
I understand your concerns. However,
this has worked for others. Let me
give you some examples..!!
Success Stories
Training conducted at Bongaigaon
Focus on Need Based
Cash Flow
Pay 1 lakh for 7 Years
& Get 1 lakh every year
The next day
Advisor Suvendu picked up 3 ICICI Pru
Retirement Income Solution of Rs. 1 Lakh each
Suvendu Sarma
The 3 Champions
Trainer
Praveen Sharma
Leader
Susavan Mahanta
(BM, Bardhaman)
Executor
Ashim Chatterjee
(ABM)
10 ICICI Pru Retirement Income
Solutions of Rs. 1 lakh each in 1 day!!
Other Success Stories
Sushil Suman
ICICI Pru Retirement
Income Solution
of Rs. 3.7 Lakh
Loknath Sahoo
ICICI Pru Retirement
Benefit Solution of Rs.
1.5 Lakh
Sujata Shinde
ICICI Pru Retirement
Income Solution of
Rs. 1 Lakh
“Need Based Cashflows” works with customers!!
Arun meets his manager
Good but don’t forget Need
Based Cash flow
Ok, I will give
it a try.
Arun meets Sanjay
I want
both!
Will an additional monthly income
How
will
your
wife
takebusiness
care
of
While Would
cash
inflows
from
you
want
toyour
leave
alinked
legacy
help
take
care
of
household
Do
you
prefer
market
household
expenses
in
case you
are
are irregular,
how
do
youchild?
manage
your
for
your
expenses?
returns
or
guaranteed
returns?
around?
regularnot
expenses?
For customers above 40, a few sharp questions around
retirement are great conversation starters!!
Retirement Benefit Solution
Return
Enjoy your desired equity participation for
optimum returns
Safety
Enjoy a level of guarantee to protect your
investments against market volatility
Income
Enjoy regular income for you and your spouse for
whole of life
Protection
Get a life cover during your earning years and leave
a legacy for your child
Sell online
Investment
profile
Pinnacle
Super
GSIP
Minimum
premium
Aggressive
75%
25%
76 k
Moderate
50%
50%
1 lakh
Conservative
25%
75%
2 lakh
What you pay
What you get
Retirement Benefit Solution Refresher
Products
ICICI Pru Guaranteed Savings Insurance Plan
ICICI Pru Pinnacle Super
ICICI Pru Immediate Annuity
Minimum Age at Entry
35 Years
Maximum Age at Entry
60 Years
Premium Payment Term
Limited Pay (7 Years)
Investment Profile
Minimum Premium
•
•
Minimum Premium (Rs.)
Aggressive
76k
Moderate
1 lakh
Conservative
2 lakh
ICICI Pru Immediate Annuity will not start automatically. The policyholder will get the maturity
benefit from ICICI Pru Pinnacle Super and ICICI Pru Guaranteed Savings Insurance Plan and its
his responsibility to purchase ICICI Pru Immediate Annuity in both cases.
The annuity amounts can not be guaranteed at the time of purchase of the solution. The
annuity rates can change from time to time and actual annuity amount will depend on the
rates prevailing at the time of vesting.
Arun shares a coffee with his friend Amit
Congrats!
How did you
make such a
quick closure?
Sounds
interesting…
It’s easier to engage
the customer
through this need
based cash flow
approach
Selling is smooth due to the
unique ICICI Pru backend
support - customized
Lets see howand
it goes
today…
presentations
integrated
issuance process
Customised presentations and Integrated Backend!!
First Appointment
Arun
meets
Arun meets Mr. Chandan
Mr.
Chandan
face
to
face.
Will your company give you regular
Will your PF savings be enough
income
postretirement?
retirement?
for your
For salaried 40+ customers, monthly income needs to
continue post retirement!!
Chandan has some questions…
Why can’t I pay for a shorter duration?
This solution provides benefits to you and your
wife for whole of life. Hence, it is important that
you pay at least for 10 years to build a significant
corpus.
For whole of life benefits, you need to pay for 10 years!!
Sell online
ICICI Pru Retirement Income Solution
ICICI Pru Retirement Income Solution
What you get
What you pay
Retirement Income Solution Refresher
Products
ICICI Pru Guaranteed Savings Insurance Plan
ICICI Pru Immediate Annuity
Minimum Age at Entry
25/30 Years (Depending on Payment term)
Maximum Age at Entry
60 Years
Premium Payment Term
Limited Pay (7/10 Years)
Minimum Annual Premium
•
•
Rs. 18000 (for Seven Pay) / Rs. 12000 (for Ten-Pay)
ICICI Pru Immediate Annuity will not start automatically. The policyholder will get the maturity
benefit from ICICI Pru Guaranteed Savings Insurance Plan and its his responsibility to purchase
ICICI Pru Immediate Annuity.
The annuity amounts can not be guaranteed at the time of purchase of the solution. The annuity
rates can change from time to time and actual annuity amount will depend on the rates
prevailing at the time of vesting.