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ROLE PLAYS. Total of 18 Relationship Officers split into 3 groups Each group gets a client scenario Each group will discuss within to identify Sales process Identify how to highlight features and benefits best suited to the needs of the client
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Total of 18 Relationship Officers split into 3 groups • Each group gets a client scenario • Each group will discuss within to identify • Sales process • Identify how to highlight features and benefits best suited to the needs of the client • Each of the Group Leader will present the findings to all of us • While a group leader is presenting, other groups to identify Good points, • Areas for improvement (Body language, knowledge etc) with specific examples • Feedbacks • By GL himself / herself • By the group whose GL presented • By other groups • Facilitator • Repeat from process with other groups
SCENARIO 1 You are sitting across a 45 year old client Mr. Raj who has 3 children of 4, 6, 8 years of age. His income is AED 15,000 monthly. His wife is earning AED5000 monthly. They already have a savings plan back in home country for which AED1500 is paid monthly. Raj says this plan was bought for his children’s education needs in future. Raj and his wife already has insurance policy taken back in home country for AED 100,000 equivalent. How will you pitch Capital Plus plan?
SCENARIO 2 You are sitting across a 24 year old client Mr. Saad who has just started working in Dubai. He is a qualified engineer with an income is AED 5,000 monthly. He sends home AED1000 on a monthly basis. This is his first ever job after education. What is the best pitch to sell him a Capital Plus plan?
SCENARIO 3 You are sitting across a 40 year old client Mr. Ahmed who is a diamond merchant in Dubai since 15 years. His monthly income is AED 200,000 monthly. He has invested in real estate properties in UAE and is an active trader in DFM. He has upto $500,000 lying in this savings account of MASHREQ. He has 5 children, 2 wives and his life is covered for $2Mn. What is the best pitch to sell him a Capital Plus plan?
SCENARIO 4 You are sitting across a 40 year old client Mr. Patrick who is working with an insurance company in Dubai since 10 years. His monthly income is AED 8,000 monthly. He has 2 children of 4 years and 8 years of age. He has bought a similar savings plan from another bank which will take care of education of his eldest child. He is planning to return to India forever in another 15 years. What benefits of the Capital Plus plan if highlighted will make him enroll for it?
SCENARIO 5 You have met Ms. Sana 3 times at her office. She is single and is very interested in buying Capital Plus plan for her retirement planning. She is the chief accountant in a MNC in Dubai earning AED30,000 monthly. She being a chief accountant is very well aware of other plans which provide regular savings benefits, but none of them provides pension benefit the way Capital Plus provide. But she claims a ‘fund of funds’ offered by a leading mutual fund company charges her less than CP plan and the plan offers a lumpsum in future. Meanwhile she has shopped around from other banks for a similar VUL plan like CP but agrees SS provides better cash surrender value at the end of 15 years when she is planning to retire. You know that she is in the very probable of signing up for CP plan. But she is buying time every time you meet. How will you close the sale in the next meeting?
SCENARIO 6 You have met Mr. Sanjeev and introduced the plan. He is well aware of VUL plans available in the market and wants money from the plan in 5 years time. But he is reluctant to purchase CP because he wants to invest in funds from emerging markets like China and India which CP doesn’t provide as of now. Sanjeev thinks emerging market funds are growing gives a return of 15% annually. You had given him a illustration with 6% assumed yield with 40%:60% asset allocation between conservative and aggressive strategies respectively. How will you convince the client for CP?