Monday, October 31, 2011


Selling tips....

Jean is our staff working at our main office. For the past few months, towards the end of the month, she would call me personally. Checking with me those endowment and educational policies which I had sold more than twenty years ago and are maturing now. She would ask whether those maturing cheques be dispatched to me or to be sent directly to our policy holders. My instruction is always to let me have them, so that I would hand personally to my clients myself.

Out of curiosity, yesterday when I had a long chat over the phone with Jean, I managed to gather some surprised information from her. Though we don't market anymore endowment plan today, there are many endowment policies sold previously are maturing currently. According to her, 90% of these maturing policies are no longer served by the attending or servicing agent. Either the agents have passed away or they had left the business with our company. Jean's responsibility is to locate these customers' where about. Their address could be incomplete or they have moved. Her job is never easy. Unclaimed payment would be sent to our Central Bank for same keeping. The agents who sold the balance of the 10% maturing policies are still around. They numbered less than 10 of us. Out of these 10 agents who have been with the company for more than 25 years, only one agent is willing to receive these payments from the head office and later handover these cheques to his clients. Jean said these old timers insisted payment should be mailed or they are not sure where their clients are staying now. Jean felt that this only one agent who is willing to accept the responsiblity to hand deliver payment to his clients is truly a very special person. Though he no longer earns any more commission from these old policies, he is still so eager to meet up with his customers. This special agent is RF.

Jean asked me where I got my energy to last so long in this business. I told her.. Talking is my hobby. As long as I could see my friends are smiling and happy, I know my hobby works. Thanks God! Selling life insurance allows me to talk endlessly. I waited 20 or more years to see these policies matured. I will never trade for anything but the pride and honour to hand deliver these payments to my deserving clients who also have waited this long for their savings.

My strongest belief-
"Dedication is not what others expect of you, it is what you can give to others."


Maram said...

Hi Youngman Bob,
Many a time an insurance agent comes to me to sell their product. I always doubt their sincerity. Are they selling bcos it is really good for me & family, or it is more good for him? He is motivated becos it is his lifeline! Not quite bcos he wants to help me!! Xcept for medical n life protection, i think the savings plan are nothing but dull!
Sincerity Bob, are they sincere in their job! Nothing beats sincerity. W/o it, they are just sleek deceivers?

Wan said...

Hi Robert,
You are just ONE great man in the insurance industry.
If we have more people like you in the industry, it would be Wonderful!
Have a GREAT Monday start of the week....

Robert Foo said...

Hi Maram,

There is no right or wrong in your question for me. Everyone needs money to survive but not many could survive merely out of sincerity. Perhaps I would write further on my next posting and my great friend... You would add a few more wisdom words.

Robert Foo said...

Hi Wan,

Food and water gives me the energy but your admiration and appreciation inspires. Thank you for your wonderful comment.

Maram said...

Thank u Bob.
Yes, please write on this aspect in selling. I believe many people buy products of insurance w/o knowing the details, what is d best product for you! The agent wants to make a living. He is the expert in the product details. He has targets to make. So it is no surprise if he pushes products to benefit him most! And make an art of making people believe they needed the product. The very same tactic advertisers do for consumer products! But insurance products are not like apples or McD burgers! They come with many terms n conditions. From day one, an insurance agent faces a conflict of interest, to sell a product tailor suited to needs of the customer, or needs of himself! U may say both, but what is it really? To me selling must be based on honesty, sincerity in meeting a customer need. Once this is established, one can easily get customers the right product! You will be very convincing bcos all from you comes from the heart, n you will get more customers as a CONSEQUENCE of your honesty! You fulfil your customer need, and in turn your income will be met! Does that sound fair? Unfortunately, bcos of the stress of targets anf get rich fast, this moral principle is a rarity, n not taught anymore by profit oriented organisations!!