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AXA Protection Account

AXA Protection Account. Sales Skills Workshop. Hands Up Please!. Protection Sales. Individual Term Assurance (Excluding accelerated Critical Illness). Individual Critical Illness (Accelerated & stand alone policies). Individual Income Protection. Source Swiss Re

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AXA Protection Account

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  1. AXA Protection Account Sales Skills Workshop

  2. Hands Up Please! This presentation is aimed and directed at professional advisers only

  3. Protection Sales Individual Term Assurance (Excluding accelerated Critical Illness) Individual Critical Illness (Accelerated & stand alone policies) Individual Income Protection Source Swiss Re Term & Health Watch 2006 This presentation is aimed and directed at professional advisers only

  4. PROTECTION SALES WHO WANTS IT? The Customer Protects them and family Peace of mind The Business Reg Premium Biz FSA Requirement Protects customers Advisers have a professional image You Commission Thorough Job Professional Your Figures / Range of Sales This presentation is aimed and directed at professional advisers only

  5. WIIFM… • Assuming average mortgage of £150,000 with a married couple male 35 nb n/s & female 32 nb n/s assuming a repayment mortgage over 25 years:- • (1)Procuration fee= £500.00 • (2)Proc fee plus joint life first death life cover = £474.03 £474.03+ £500.00 = £974.03 • (3)Proc fee plus joint life first event life or earlier critical illness cover = £2433.68 £500.00 + £2433.68 = £2933.68 • (4) Proc fee plus (3) plus income protection for male life £604.39 £500.00 + £2433.68 + £604.39 = £3538.07 This presentation is aimed and directed at professional advisers only

  6. Objectives By The end of today you will be able to: • Identify a clear protection sales structure • Apply this to your mortgage sale process • Gain commitment from your mortgage clients in the area of protection This presentation is aimed and directed at professional advisers only

  7. AXA Sales Skills Workshop Meeting Structure and Control

  8. Objectives By the end of this session you will be able to: • State your objectives for a mortgage sales meeting • List the key stages of the mortgage sales meeting • Describe the key skills required to conduct an effective meeting • Identify key control mechanisms used during a meeting • List the 4 components of a good ‘signpost’ This presentation is aimed and directed at professional advisers only

  9. Why set an objective? • Gives a clear purpose for the meeting • Saves time i.e. you know where you want to get to • Assists in a successful outcome. This presentation is aimed and directed at professional advisers only

  10. Your objectives? • To have completed, or be in a position to complete, the mortgage sale • Cross sell. This presentation is aimed and directed at professional advisers only

  11. Meeting Structure • Build commercial rapport • Set the scene • Mortgage fact find • Fact find for protection • Revealing a protection need • Present your solution • Mortgage • Protection This presentation is aimed and directed at professional advisers only

  12. Meeting Structure • Build commercial rapport • Set the scene • Mortgage fact find (normal process followed) • Fact find for protection • Revealing a protection need • Present your solution • Mortgage (normal process followed) • Protection This presentation is aimed and directed at professional advisers only

  13. Key Skills • Planning • Questioning • Listening • Recording • Understanding • Influencing • Controlling • Gaining commitment This presentation is aimed and directed at professional advisers only

  14. Control Mechanisms • Setting objectives • Structure • Questioning • Summarising This presentation is aimed and directed at professional advisers only

  15. Signpost • From • To • How • WHY? This presentation is aimed and directed at professional advisers only

  16. Objectives By the end of this session you will be able to: • State your objectives for a mortgage sales meeting • List the key stages of the mortgage sales meeting • Describe the key skills required to conduct an effective meeting • Identify key control mechanisms used during a meeting • List the 4 components of a good ‘signpost’ This presentation is aimed and directed at professional advisers only

  17. AXA Sales Skills Workshop Commercial Rapport and Setting the Scene

  18. Objectives By the end of this session you will be able to: • Explain what is meant by commercial rapport • State the benefits of building commercial rapport • Explain what is meant by setting the scene • Describe the benefits of using an agenda to set the scene for a meeting This presentation is aimed and directed at professional advisers only

  19. Meeting Structure • Build commercial rapport • Set the scene • Mortgage fact find • Fact find for protection • Revealing a protection need • Present your solution • Mortgage • Protection This presentation is aimed and directed at professional advisers only

  20. Rapport – the purpose? • Sell yourself • Develop trust • Put yourself and the customer at ease • To gain information • Can bring focus and direction to the meeting • Allows you to get a measure of the customer. This presentation is aimed and directed at professional advisers only

  21. Commercial Rapport? • Rapport relevant to your business objectives. This presentation is aimed and directed at professional advisers only

  22. Building commercial rapport • Property • Family • Career This presentation is aimed and directed at professional advisers only

  23. Active listening • Summarising what has been said • Asking questions back i.e. supplementary questions • Eye contact • Nodding – non-verbal and verbal • Recording what is being said • Not interrupting • Not tailgating! This presentation is aimed and directed at professional advisers only

  24. Set the scene • Telling the customer what the meeting is going to cover • How you are going to conduct the meeting • How long it is going to take • What the likely outcome will be • One or two meeting process. This presentation is aimed and directed at professional advisers only

  25. Meeting Structure • Build commercial rapport • Set the scene • Mortgage fact find • Fact find for protection • Revealing a protection need • Present your solution • Mortgage • Protection This presentation is aimed and directed at professional advisers only

  26. Using an agenda - benefits • Structure to follow • Cannot be forotten • Gives you control • Reference point throughout the meeting • Useful if the meeting goes off track • Looks good, looks professional • Different to competition • Aids the flow of the meeting i.e. the customer knows what is coming next. This presentation is aimed and directed at professional advisers only

  27. Using a written agenda - tips • Personalise e.g. customer’s name, date of meeting • Send in advance, if possible • Brief headings • Sell the benefit • Share it with the customer • Ask for additions • Refer to throughout meeting. This presentation is aimed and directed at professional advisers only

  28. Objectives By the end of this session you will be able to: • Explain what is meant by commercial rapport • State the benefits of building commercial rapport • Explain what is meant by setting the scene • Describe the benefits of using an agenda to set the scene for a meeting This presentation is aimed and directed at professional advisers only

  29. AXA Sales Skills Workshop Fact Finding for Protection

  30. Objectives By the end of this session you will be able to: • Explain the benefits of fact finding for protection • Understand the key skills required • List the information that you want to gather at this stage of the meeting This presentation is aimed and directed at professional advisers only

  31. Meeting Structure • Build commercial rapport • Set the scene • Mortgage fact find • Fact find for protection • Revealing a protection need • Present your solution • Mortgage • Protection This presentation is aimed and directed at professional advisers only

  32. Fact finding • What’s in it for you? • What’s in it for your customer? This presentation is aimed and directed at professional advisers only

  33. Key Skills • Questioning • Listening • Speed (but accurate) This presentation is aimed and directed at professional advisers only

  34. Signpost • From • To • How • WHY? This presentation is aimed and directed at professional advisers only

  35. Example Signpost • “That’s the mortgage sorted out. (From) • What I’d like to do now is understand what protection arrangements you currently have in place for yourself and your family were you not around or ill for a prolonged period. (To) • The way I am going to do that is just spend a few minutes asking you some quick questions about the arrangements that you might have and I’ll take a note of the detail. (How) • The reason for doing this is, as we said earlier, a mortgage is probably the biggest financial commitment you will ever take on so it’s important to ensure that it is safeguarded in any event. This will allow me to establish whether you have any gaps in your current financial planning and, if so, we can deal with those and give you and your family complete peace of mind. Is that ok?” (Why) This presentation is aimed and directed at professional advisers only

  36. Key Skills • Questioning • Listening • Speed (but accurate) • Signpost at outset This presentation is aimed and directed at professional advisers only

  37. Question types • Closed • Assumptive • Probing This presentation is aimed and directed at professional advisers only

  38. Key Skills • Questioning • Listening • Speed (but accurate) • Signpost at outset • Question types i.e. closed, assumptive, probing This presentation is aimed and directed at professional advisers only

  39. Preparation • “One of the areas that we will also look at is ensuring that your mortgage is protected in any event and, in order to make the most effective use of the time that we have, it would be very useful if you could bring along details of any existing protection policies that you have.” This presentation is aimed and directed at professional advisers only

  40. Tips • Signpost throughout • Park items • Constantly check • Be relevant • Help the customer • Mini summaries • Outstanding information • Thank the customer This presentation is aimed and directed at professional advisers only

  41. Objectives By the end of this session you will be able to: • Explain the benefits of fact finding for protection • Understand the key skills required • List the information that you want to gather at this stage of the meeting This presentation is aimed and directed at professional advisers only

  42. AXA Sales Skills Workshop Revealing a Protection Need

  43. Objectives By the end of this session you will be able to: • Understand the protection reveal need process • Understand how to include this in your mortgage sale process • Demonstrate revealing protection needs with your customers This presentation is aimed and directed at professional advisers only

  44. Meeting Structure • Build commercial rapport • Set the scene • Mortgage fact find • Fact find for protection • Revealing a protection need • Present your solution • Mortgage • Protection This presentation is aimed and directed at professional advisers only

  45. Revealing A Protection Need WANTS ≠ GOTS This presentation is aimed and directed at professional advisers only

  46. Revealing A Protection Need A – Agreement W – Wants P – Proof This presentation is aimed and directed at professional advisers only

  47. Revealing A Protection Need Logic 20% Vs Emotion 80% This presentation is aimed and directed at professional advisers only

  48. Revealing A Protection Need A – Agreement W – Wants P – Proof I – Implications N – Next Steps This presentation is aimed and directed at professional advisers only

  49. Supplementary Questions? • Exact objective – e.g. capital or income • Amount required • Life, CI or both, PHI. • Smoker? • JL / SL • Budget • In trust? • Health • Deferred period • Timescales This presentation is aimed and directed at professional advisers only

  50. Objectives By the end of this session you will be able to: • Understand the protection reveal need process • Understand how to include this in your mortgage sale process • Demonstrate revealing protection needs with your customers This presentation is aimed and directed at professional advisers only

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