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Question from an insurance advisor to others: Regarding insurance payments

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10 May, 2021 by  Avinash Sonee

Hi,


As an insurance advisor, how do you manage to convince the customer to make their insurance policy payments by themselves. Many of our customers, especially the elderly and less tech-savvy ones hesitate to make the payment themselves or from their accounts. Instead, they transfer the money to my account and ask me to do the payment.


There are various reasons other for this like the renewal process of some companies not being user friendly or not providing multiple payment options, some customers pay later (debts), payment failures, OTP issues, fear of fraud etc.


I keep trying to teach and insist my customers to make the payment themselves but there is still some percentage of customers who don't listen.


In your experience, what are some ways to resolve this.

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12 May, 2021

Hi Avinash,


I am not an Insurance Advisor, but as a personal finance and tax expert here's what can be done


Create awareness among the elderly about the initiatives take by the Government under digital India campaign and how things have changed over last few years, if you could remember there was a time when there were mobile currency recharge coupons sold by retailers, who does that now, none. We need to adopt


Talk to the family members of your elderly clientele and take their help and guide them with the online payment, you as an Advisor get a chance to build repo with their family members. You may be able to review their health plans as well.


Last option keep doing the good work of routing it through your bank account and the customer paying it to you until you manage to convince them with digital payment option.


I hope other experts on this forum would add their experience handling similar customers


Stay safe

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12 May, 2021
Avinash Sonee
Thank you.
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12 May, 2021

Avinashji, can relate and understand this.


I have learned lately that it is all in mind and once I say I have stopped doing this, there will be few people who would not like, there will be few who will accept and there will be few people who will switch and no longer choose to be your customer.


Service is key delivery and one can give best service only when one enjoys doing what one does.If I get a call from a customer and I think, "Arey yaar, ye kiska call aa gaya, wapas they will ask for this extra service", should be a signal enough to change self and cutomers perspective and/or kind of customers we work with.


My Mentor says, "Choose your customer and learn to say NO"- only then customers will enjoy working with you and you will enjoy working with customers and then references flow.


You need to set rules of service through awareness. Call young and find aged people who are doing this, what others are not accepting. For example I am sure, there would be some of your clients who would be doing direct online payments, call them for the awareness session to address other peoples issues and rather then you sharing let them share and create awareness.


I am sure you have happy customers to share their experiences.


Also, you may call a bank or medical co.employee to take session on various ways to make pyts. and how easy and safe they are.A Senior citizen has never done this, so think step 1, 2, 3 from their angle and make their life easy. Ask them what is more comfortable to them out of the various pyt. options and accordingly give them those specific steps, to make their life easy.And if you choose to, have a dedicated employee to only handle this queries and issue, it this is so worrying and pressing for you ad your customers.


2ndly, never suggest a company whose post sales service is bad or only suggest, if you choose to make up for that service, which means extra people or technology and extra investment to service people.


I think, rather than customers, it is you who will have to set rules and decide and then create awareness.


I am aware this is easier said then done, but trust me, grass is greener once you do this and there will be satisfaction for both, you and your customers.



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12 May, 2021
Avinash Sonee
Thank you. Will definitely try harder to implement this.
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