AXA Protection Account Sales Skills Workshop

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

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= £  (2)Proc fee plus joint life first death life cover = £ £ £ = £  (3)Proc fee plus joint life first event life or earlier critical illness cover = £ £ £ = £  (4) Proc fee plus (3) plus income protection for male life £ £ £ £ = £

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

AXA Sales Skills Workshop Meeting Structure and Control

This presentation is aimed and directed at professional advisers only 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’

AXA Sales Skills Workshop Commercial Rapport and Setting the Scene

This presentation is aimed and directed at professional advisers only 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

AXA Sales Skills Workshop Fact Finding for Protection

This presentation is aimed and directed at professional advisers only 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

AXA Sales Skills Workshop Revealing a Protection Need

This presentation is aimed and directed at professional advisers only 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

AXA Sales Skills Workshop Selling the Protection Solution

This presentation is aimed and directed at professional advisers only 52 Objectives By the end of this session you will be able to:  Explain where the presentation of your solutions fits into the Mortgage Sales meeting  State the key stages of the ‘Double Buying Process’ used to re-sell a problem and sell a solution  List the key stages of a second meeting.

This presentation is aimed and directed at professional advisers only 53 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 54 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 55 Double Buying Process Re-sell the problemSell the solution A W P I N

This presentation is aimed and directed at professional advisers only 56 Re-sell the problem  ‘AWPIN’ model  TELL not consultative  Seek agreement as you recap  Use the customer’s own words and phrases  Emphasise the ‘Implications’ stage

This presentation is aimed and directed at professional advisers only 57 Re-sell the problem  A Issue to be discussed  W Recap wants, why, importance, how much, how met  P Re-introduce the shortfall  I Recap the implications  N Seek agreement and check commitment

This presentation is aimed and directed at professional advisers only 58 Sell the solution  A Confirmation that you have a solution  W Confirm planning considerations taken into account  P Present the solution

This presentation is aimed and directed at professional advisers only 59 P Present the solution 1.Concept - diagram or verbally 2.Contract – the name of the product 3.Cost – the premium.

This presentation is aimed and directed at professional advisers only 60 Sell the solution  A Confirmation that you have a solution  W Confirm planning considerations taken into account  P Present the solution  I State the BENEFITS  N Ask for the business

This presentation is aimed and directed at professional advisers only 61 2 nd Meeting Structure  Re-establish rapport  Set the scene  Recap previous meeting  Check for changes  Present your mortgage solution  Sell your protection solution (Double Buying Process)  Confirm next steps

This presentation is aimed and directed at professional advisers only 62 Objectives By the end of this session you will be able to:  Explain where the presentation of your solutions fits into the Mortgage Sales meeting  State the key stages of the ‘Double Buying Process’ used to re-sell a problem and sell a solution  List the key stages of a second meeting.

AXA Sales Skills Workshop Course Close

This presentation is aimed and directed at professional advisers only 64 Protection Sales Skills Workshop What have we covered?  Structuring a mortgage sales meeting  Control mechanisms  Building commercial rapport  Setting the scene  Fact finding for protection  Revealing a protection need  Presenting your protection solution

This presentation is aimed and directed at professional advisers only 65 Practice critical areas

This presentation is aimed and directed at professional advisers only 66 PROTECTION SALES WHO WANTS IT? You Commission Thorough Job Professional Your Figures / Range of Sales The Business Reg Premium Biz FSA Requirement Protects customers Advisers have a professional image The Customer Protects them and family Peace of mind

AXA Sales Skills Workshop Course Close