 Broadly insurance can be classified in two categories: First - Life Insurance which matures in event of death of the insured/policyholder. On occurrence of such an event the insurance company pays a sum of money assured to the nominee/beneficiary (person nominated by the policyholder). Life Insurances are of two types: Traditional Plans - which contain Endowment Plan , Cash Back Plan, Term Plan , (Term Life Insurance) and Whole life policy. And Unit-linked Insurance Plans - are of 4 types - Endowment cum Ulips, Children Plan , Retirement Plan or Pension plan and investment/saving plans. Second - General insurance. All insurance policies other than life insurance policies come under general insurance segmentation. (Also known as non-life insurance policies). These policies include Home Insurance, Auto Insurance, Travel Insurance, Marine Insurance, Theft Insurance, Office insurance and Health insurance Health insurance is most acquired policy in general insurance segment. Health insurances are of 3 types - Comprehensive Plan - which include Mediclaim and Fixed benefits plan, Accidental Insurance and Critical Care plan . |
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Mr. Sujit Shah Agent of the Month, October 2010 has been associated with Bimadeals since 1st Feb. 2010 for sourcing life Insurance leads. He is currently associated with Kotak from Bangalore.And he shares his experience with us about the conversion, how bimadeals help him to reach more customers and gives some useful tips for good conversion. Here is the Snippet of the conversation we had with him on 9th-October-10 |
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Since when are you associated with the Insurance Industry?
Mr. Sujit Shah: January 2009.
You are associated with which Insurance company?
Mr. Sujit Shah: Kotak life insurance.
Since how long you are been in the same Kotak Company?
Mr. Sujit Shah: Since January 2009.
Maximum policies sold in one single month?
Mr. Sujit Shah:
7-8 policies.
Which is the best selling plan in Kotak?
Mr. Sujit Shah: : All plans basically Term plan and ULIPS. Head Start and Future Kotak plan also offer good benefits to the customers.
What are the sources through which you generate business?
Mr. Sujit Shah: Through Referal, SMS marketing and Bimadeals is also the another bonus source to generate the business & with Bimadeals I am getting good conversion.
How you came to know about Bimadeals?
Mr. Sujit Shah: Through my friend’s reference and now I am very happy with Bimadeals leads.
How much conversion do you drive from the leads?
Mr. Sujit Shah: With Bimadeals leads I get 10% conversion and there is a potential of 14-20%.
What is the normal TAT for converting Bimadeals leads?
Mr. Sujit Shah:
For me it is 1-3 months because I am doing this as a part time business.
Did you had any apprehensions about pre-paid model which Deal4Loans team follows for offering their services to DSAs?
Mr. Sujit Shah:
Yes I had, but I thought lets take a chance but whatever amount I had invested have been recovered very soon.
What is the Avg. Appointment percentage?
Mr. Sujit Shah:
Around 50-60%.
We at bimadeals.com work closely with each of our agents to make sure that it is a win –win situation for all. The success of Mr. Sujit Shah, association proves that lead sourcing from Bimadeals.com is a good move for all the agents.
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Mr. Sanjay Patel Agent of the Month, April has been associated with Bimadeals from last 4 months for sourcing life Insurance leads. He is currently associated with LIC. His account was activated with us on 19-Dec-2009. And he shares his experience with us about the conversion, how bimadeals help him to reach more customers and gives some useful tips for good conversion. Here is the Snippet of the conversation we had with him on 9th-April-10 |
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Ques. Are You From Insurance Sector?
Mr. Sanjay Patel: Yes.
Since when are you working with the insurance industry?
Mr. Sanjay Patel: I am associated with LIC from last 5 years, working fulltime along with my wife.
You are from which place?
Mr. Sanjay Patel: I am from Baroda, Gujarat.
Did you had any doubts/fears in your mind when you were first approached by bimadeals?
Mr. Sanjay Patel:
Bimadeals is very renewed brand and I’ve checked the process myself. After a small confirmation with my close friends I entered into a venture with them. After the trial pack my all doubts were cleared and moreover my reach has expanded to a next level with new set of clients.
How did bimadeals helped you in the growth of your business?
Mr. Sanjay Patel: : Bimadeals has really helped me to grow my business Dedicated follow up with each and every customer has resulted in a very good conversion. I am completely satisfied with their services and really thankful for the support provided to me by bimadeals.com
How much conversion are you able to extract from our leads?
Mr. Sanjay Patel: I am getting a very good conversion rate from Bimadeals leads and as my relationship with bimadeals has increased the conversion rate has also mounted.
What is the normal turn around time for bimadeals leads?
Mr. Sanjay Patel: Just 2-3 days, since I approach the client with the required product which the client has requested for. To the point interaction feature saves my as well his customer’s time.
What is your Success Mantra?
Mr. Sanjay Patel: The Success Mantra is "Don't misguide the customer and always provide him correct information". Moreover false commitment would hamper our goodwill as well.
Any inconvenience caused by bimadeals?
Mr. Sanjay Patel:
Small confusion was there but bimadeals representatives are always on their toes to help their associates.
We at bimadeals.com work closely with each of our agent s to make sure that it is a win –win situation for all. The success of Mr. Sanjay Patel, association proves that lead sourcing from Bimadeals.com is a good move for all the agents.
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Mr. Vivek Bhatnagar Agent of the Month, June has been associated with Bimadeals from last 1 year for sourcing Life Insurance leads. He is currently tied up with LIC and shares his experience about the conversions, lead sourcing how to do more business. More than 215 life Insurance leads have been already allocated to him& the association has profitable for him. Here is the Snippet of the conversation we had with him on 25-June-09 |
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Since how long you are been in the same Insurance business?
Mr. Vivek Says: I am in to the same business from last 2 years.
Which company you are associated with?
Mr. Vivek Says: I am associated with LIC only.
Why are you associated with LIC not with other other company?
Mr. Vivek Says: I am associated with LIC because existence of LIC in market is from last 52 years and LIC is itself a brand. So people blindly trust on LIC.
How you came to Know about Bimadeals.com?
Mr. Vivek Says:
I came to know about Bimadeals through site and I like the concept.
How Bimadeals help you to grow your Insurance business?
Mr. Vivek Says: The quality of Bimadeals is very nice, people are qualified and well educated and profile is also very good.
How much conversion you get from Bimadeals Life Insurance leads?
Mr. Vivek Says: Through Bimadeals leads I get the conversion of 10%-15%.
Which is the best plan you sold in LIC?
Mr. Vivek Says: The best plan in LIC is Jeevan Saral and Jeevan Anand which are sold more to the customers.
How many total policies you sell till now?
Mr. Vivek Says: I have sold more than 50 policies and through Bimadeals leads I am able to collect 1, 48,000 Premium.
What are the tact’s you follow in Insurance Leads for a good conversion?
Mr. Vivek Says:
Understand customer requirement & pitch a plan accordingly, which is a key success for insurance business.
We at bimadeals.com work closely with each of our agent s to make sure that it is a win –win situation for all. The success of Mr. Vivek Bhatnagar, association proves that lead sourcing from Bimadeals.com is a good move for all the agents.
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Mr. Avdhesh Mishra, Agent of the Month May has been associated with Bimadeals since Dec’08 for sourcing Life Insurance leads. He is currently tied up with Birla Sunlife & shares his experience about the conversions, lead sourcing, how to do more insurance business. More than 225 life insurance leads have been already allocated to him & the association has been profitable for him. Here is the snippet of the conversation we had with him 2nd May 09: |
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Since when you are procuring Life Insurance business?
Mr. Avdhesh Says: I have been procuring life insurance business since 15 years. For initial 10 years I was associated with LIC & later with Birla Sun Life
Why did you opt for Birla Sunlife company inspite of the fact LIC is the oldest brand in Insurance?
Mr. Avdhesh Says:
- Birla Sunlife offers better
- Incentive Plan
- Club Membership Benefits
Which category of club membership benefits you are availing?
Mr. Avdhesh Says: I am in CEO club membership. For this one has to collect 1.5-2 crores of premium in a financial year.
What are the sources through which you generate business?
Mr. Avdhesh Says:
- Bimadeals
- Telecallers
- References
What is the team size you have to achieve targets?
Mr. Avdhesh Says: I have team size of 10 telecallers & 12 field executives.
What is the turn around time for Bimadeals customer conversion?
Mr. Avdhesh Says: One Week
What is the % of conversion on Bimadeals customers?
Mr. Avdhesh Says: I convert 20% of the leads which I procure from Bimadeals & with average ticket-size of Rs.25000/-
What techniques you employ to convert Bimadeals customers?
Mr. Avdhesh Says: These are educated customers so they want to take informed decisions. For this I give them a detailed presentation alongwith comparative study.
Which is the best policy Birla Sunlife is offering?
Mr. Avdhesh Says:
- For Pension: Freedom 58
- Long Term Saving: Dream Plan
- Whole life: Classic Premier
We at bimadeals.com work closely with each of our agent s to make sure that it is a win –win situation for all. The success of Mr. Avdhesh Mishra, association proves that lead sourcing from Bimadeals.com is a good move for all the agents.
