Summary |
This text represents a continuation of and a conclusion for the material in Principles of Insurance Production (PRO 81). The application of technical information in insurance policies to the needs of prospects and clients is still stressed. According to sales theory, the technical characteristics of an insurance policy are known as the features of the product. The exposures of the client represent the client’s needs. The major goal of this and the PRO 81 text is to bring the producer to the point of recognizing the prospect’s or client’s needs and to match those needs with the appropriate features of insurance policies. This is known in sales theory as need satisfaction selling.
The text continues to emphasize service. Hints are given on selling the underwriter-because having the underwriter on the producer’s side helps the client. Examples of how other insurance production firms sell and service insurance are also given.
In a sense, these books are both texts and reference volumes.
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