The danger of desperate sales people
A lack of detailed sales processes results in sales people who are desperate to make sales. They often begin to cut corners in a variety of ways:
- Only offering limited options for both product and insurer
- Not giving the customers the time to move at their own pace
- Selling mainly on the basis of being the cheapest
This results in lower average commissions and higher clawback. It’s a self-perpetuating cycle!
At worst, desperate sales people begin to cut corners even more in the form of deliberate non-disclosure to achieve a sale with “standard rate” underwriting.
The effect on customers:
- Customers don’t buy, because they don’t understand their options, the need for protection, or simply don’t trust the salesperson.
- Customers cancel, because they don’t understand the value of what they’ve bought, the choices they have made, or feel that they were “forced” into purchasing.