HARVEST THE CROP ONLY WHEN IT MATURES

I often witness insurance agents open their sales talks to the unknown persons at the movie theatres, on railway platforms and in the restaurants. Sale of an insurance policy is a serious business and is not akin to selling any FMCG products. Before an agent makes a sales pitch, he needs to understand the client profile as also his life cycle needs. An individual is usually eager to take a plan from a known insurance agent, instead of an unknown agent. Reason being on the death of a policy holder, it is the agent who have to run pillar to post to settle the death claim.

In the past one decade, there are a host of technology tools that are available in the market, let it be mobile phones or internet to smoothen our life. They assists to reach the un-known persons. But in insurance sales one thing that will never change is direct marketing. Here we need to get acquainted with new range of people individually and personally to sell a plan. All it needs is intimacy and relationship management before you propose a plan to someone. Like any other trade here too we need to have patience and perseverance, but in a larger quantum. You never know how much time does it takes to close a sale successfully.

I would like to share with you an episode of my insurance career. It was the winter of 2007, I was on my annual sojourn to New Delhi. One day I went to Okhla Industrial Area. I got down at the bus stop and searched for a rickshaw to reach for the destination. All those daily office commuters were smart enough to bargain and pick the rickshaws. Finally only one rickshaw was left and I compromised to pay Rupees Ten. No sooner I got up, a young man, may be 25 years or so came hastily to request, “ Please Sir let me take this rickshaw, I got my interview sharp at 11.00 AM,whereas I got late”. I had to obey, as it was a question of his career. He agreed to my proposal to share the rickshaw instead. The rickshaw puller went to drop him first. When this Youngman got down at Luxor pens office, he took out the wallet to pay Rupees Five. But this fellow didn’t had the change, neither the rickshaw-puller had. I comforted the young man by saying, “I shall manage, you may leave as you are getting late. If you wish you can keep my number, and do let me know about the outcome of the interview”. As expected at evening the phone rang, “could I speak to Kiran Sir’. I said, “Yes you are speaking to”. The person on the other end started pouring thanks over the phone. I asked, “Have you qualified for the job?” He said, “No Sir, I couldn’t”. I tried to comfort him over the phone by saying, “life is like this, keep on trying, no defeat is final until you stop trying”.

Following day this fellow came to meet me. He is Ritesh Kumar from Brar, a small town near Ranchi, Jharkhand. A young man who migrated from a smaller town of India to a metro, with a dream to build a successful life. With much regard he opened his wallet to pay me Rupees Five. I said “NO. I can’t accept it, until you find a job and start earning”.

I came back to Odisha but kept a strict vigil on all the developments of his life by making regular STD calls. Days went by, sometimes I prayed for him, so as he will be blessed with a job. Finally four to six months later Ritesh called me to ask, “Sir, It’s time I should pay the due”. I congratulated him for getting the much awaited job. He started to make a meager earning and was able to meet his expenses, instead of getting the financial grant from his father. He purchased a new bike by taking a two-wheeler loan. In the mean while, he enrolled himself with some advanced computer course.

Finally two years later when I went to Delhi in Sept’09 he came to meet me with honor. He opened his wallet to take out Rupees Five. But I accepted Rupees Two instead, because I didn't want to make him debt-free at that moment. Though I was tempted to introduce my self as an insurance agent, but I did not propose any plans, because here timing is everything. I was knowing his life was still on the edge, as he had to pay two-wheeler loan EMIs beside the room-rent and upkeepment. This April he called me to inform that, he got a job with IBM as a SAP consultant for a yearly package of Rs.4.8 lacs at Noida. By any given Indian standards this figure is a handsome amount for a young Indian. Whenever next time I reach New Delhi, I am certain that he would conclude the insurance deal with me.

At times it takes this much time to close a insurance sale successfully. You may be smart enough to count the chicken before they hatch, but should never harvest the crop until they mature.

This article was published by RNIS News Paper in its Sept'10 issue. It is owned by Ritu Nanda, India's top ranking Insurance Agent; daughter of actor Late Raj Kapur; wife of Rajan Nanda, the Chairman of Escorts Ltd; mother-in-law of Amitabh Bachchan 's daughter Sweta Bachhan.

Inspired by this article the creative team of  an advertising agency made a soothing  advertisement of  Jeevan Anand for LIC where two childhood friends fights for five rupees, Here one says  

"Radhika ko bus mei ghumane kelia  panch rupia meine diya tha"  while the other says, "wah beta tera sadhi mei ghodi mei bethega tu aur ghodiwalla ko panch rupia meine diya tha".

This advertisement is being telecasted by all major news and sports channels since January 2011. 

POST SCRIPT : This insurance agent (the author) able to sell a Jeevan Anand policy of Rs.10 lacs with an annualised premium  of  Rs.78,494 during January 2011 to Ritesh Kumar. So far it is the highest regular premium this author got from  any individuals.

kiranbima@gmail.com
Cell # +918249314972

E. KIRAN MOHAN(The writer) 
C\o.Dr.E.R.Rao (M.D.),

Tehsil Chowk, 
At\PO - BARPALI-768029,

Odisha, India