Perhaps the first half of the year was too depressing, or perhaps it was too long, the week before the 3.0 product was removed from the shelves and switched, the major channels of the life insurance industry suddenly became "hot".
Whether it is the monthly premium growth of bancassurance based on 100%, or the busy figure of agents who are no less than "good start", there is almost no less "grand occasion" than at the end of July last year:
"More than 10 activities a week, cake party, cocktail party, customer physical examination, health care experience...... All kinds of projects take turns";
"For more than 10 consecutive days, the '730' mode has been opened - the supervision video meeting will be held on time at 7:30 in the morning every day, and the backward units ranked at the bottom of the platform on the previous day will report";
"Sprint to get off work at 11 o'clock at night these days, and the 'good start' is at most 12 o'clock at night......"
Similar descriptions on Xiaohongshu and Moments are not uncommon, which also indicates the popularity and intensity of this wave of sales.
So, what is the performance under this round of heavy artillery fire? How should market operators and front-line sales teams respond to the upcoming switch of new products, the elevation of dividend insurance, and the gradual approach of the "integration of reporting and banking" of individual insurance? Let's see "Today's Insurance" interviews several team leaders and heads of grassroots organizations to get a glimpse of the real market.
1 The campaign at the end of August was passively launched: "It can almost reach the level of 'good start'" "But this year it was too urgent, and the sale was suddenly stopped, and the time was rushed to grab the business"
"The overall performance of our department is okay, but it is not outstanding, and it cannot be compared with the round of sales suspension at the end of July last year."
Liu Li, senior manager of a central branch of a large insurance company in Northeast China, told "Today's Insurance" that the central branch company has made a good start this year, and with this foundation, it has completed the annual task in June and July.
"So this round of suspension of sales is not very strong in the company's promotion, and in addition, it has always been said to stop and not stopped, so it will be promoted according to the normal rhythm. But then I really had to stop, and I started to pay attention again, and I was very anxious in the last few days. ”
Unlike Liu Li's central branch, which "lies flat first and then sprints", another large insurance company, a central branch in central China, began to promote sales suspension marketing from the middle of the year, and carried out a comprehensive sprint in August. Miao Feng, the senior manager of the central branch company, said bluntly that after the sprint in August, the central branch company has completed the annual performance indicators.
"In fact, the effect of speculation and sales before August was not good, and in August, especially in the second half of the month, customers saw that they were going to move seriously, and they began to shoot one after another. From the product point of view, it is mainly the sales of increased life and annuity insurance. ”
Li Rong, senior director of a Chinese branch of another large insurance company in South China, also gained a lot of performance at the end of August - the sales department ranked first in the branch and achieved the predetermined goal.
"The 3.0 increase in longevity has done very well. At present, there is indeed no suitable and stable investment and financial products in the market, and real estate is not good, and there is indeed no place for people's money to invest. Insurance is relatively safe and certain. ”
Cheng Fei, senior director of a branch of a foreign-funded insurance company in North China, said that the company was more cautious, and did not dare to make much action at the company level in this wave of suspension of sales, but the entire market has been speculated, so its agents are very active in this regard.
"The performance in August was much better than in the previous months, and it was almost at the level of 'good start'. However, the main source of premiums is not critical illness insurance, which is not so hot. It is mainly some fixed-income annuities, dividend insurance and other hot products. ”
Lan Jun, senior director of a branch of a small and medium-sized insurance company in North China, said that August was supposed to be a normal rhythm, not a month to grab business, but the company suddenly stopped selling, so they had to start the battle mode.
"On the 23rd, the head office suddenly announced that it would remove all 3% predetermined interest rate products from the shelves at 24 o'clock, leaving us only a few hours, so all members of our team acted quickly to grab time to grab business, and finally grabbed more than 2 million business."
2 What is the rhythm after the product switch? "The task of the whole year has been completed, and the main rhythm is to fight manpower" "At the same time, we will learn to participate in dividends and prepare for a good start in October"
After the 3.0 product is removed from the shelves, how to adjust the product strategy of insurance companies is the anchor point of the current market. A number of listed giant insurance companies also said at the interim results conference that the next step is to vigorously promote dividend insurance, "This type of product will account for more than 50% of sales." ”
Is the sales team ready to switch to this rhythm of participating insurance products that are about to be launched in full swing in this long-lost market? What about the rhythm of the grassroots?
Liu Li, senior manager of the No. 1 Central Branch of a large insurance company in Northeast China, judged that it was not the first time that the insurance company's product adjustment had been made, and both agents and customers were not too flustered. After the product switch, the focus is on learning the knowledge system of participating insurance products and the follow-up of training adapted to it.
"In September, the company has organized agents to learn."
"But this participating insurance is not a new product, but a 2.5 participating insurance that is launched at the same time as the launch of the 3.0 product. Due to the previous foreshadowing, the overall acceptance of participating insurance by agents is relatively high, but so far no one has opened a bill, and I don't know what the market acceptance is. ”
Liu Li revealed that the company did not give a business plan in September, on the one hand, the main thing is to learn new products, and on the other hand, the theme is to increase the number of employees, because September involves the assessment of supervisors.
"Speaking in good conscience, it is not easy to increase the number of employees, but if it increases, the premium will naturally come up, so as to drive the new market, which is the main focus of the company's work."
Chen Ming, manager of a branch of another insurance company in central China, said that the company's main rhythm in the first half of September was also to play manpower, and in the second half of the month, it was delisted with 2.5 dividends, followed by a "good start" in October.
"Now most agents have lost the ability to sell dividend insurance, so whether they can sell dividend insurance well in the next step and whether they can ensure the quality of business is a great test for insurance companies and agents."
Li Rong, senior director of a central branch company of a large insurance company in South China, believes that the main new products are not dividend insurance, but more fixed and locked-in products. It is expected that by October and November, participating insurance may be listed one after another.
"The future development direction may be dividend insurance, which can reduce the pressure on the company in the later stage, and for customers to participate in the company's profit dividends, so that there is not much pressure on both parties."
Similar to the above-mentioned insurance companies that have not yet started dividend insurance, a small and medium-sized insurance company is still focusing on annuity insurance and increased life insurance. Lan Jun, senior director of a branch of this insurance company in North China, expects that the next step, especially next year, the company will focus on promoting dividend insurance, and has begun to work on the hierarchical management of agents, which is also to prepare for the sales of dividend insurance.
"From the perspective of sales logic, participating insurance is completely different from annuity and increased life. As the team director, I have already sorted out the sales logic of participating insurance products, such as attending some professional conferences, learning and discussing the sales logic of participating insurance in Hong Kong, and applying it to our practice in the next step. ”
Cheng Fei, senior director of a branch of a foreign-funded insurance company in North China, told "Today's Insurance" that the product switch was not as big a fluctuation as expected, after all, everyone had experienced it.
"For example, when I entered the industry, the company's products were scheduled to have an interest rate of 2.5, and now it is nothing more than a return to the original starting point. Interest rates are always fluctuating, and now agents are more mature and able to understand the whole environment. In the future, dividend insurance will test the company's operation and profitability more, especially the regulatory requirement to disclose the fulfillment ratio, which is beneficial to our company in this sense. ”
Cheng Fei said frankly that in addition to dividend insurance, the company's focus in the next stage will also be on critical illness insurance, which is the company's previous basic skills, but over the years it has indeed relaxed the polishing of this basic skill, and the next step will be to focus on critical illness insurance and increase the promotion of protection products.
3 Regarding the "integration of reporting and banking" of individual insurance: "the initial commission declines and makes good use of the basic law, and grabs the rank and catches the piece" pays more attention to the attitude of insurance companies towards agents
For agents, in addition to factors such as new product switching and dividend insurance, they are more concerned about the gradual "integration of newspapers and banks", which is destined to have a greater impact on the existing management system and business logic, involving the self-interests that agents are most concerned about.
In the face of this blockbuster new regulation, what are the measures taken by insurers and agents?
Liu Li, senior manager of a central branch of a large insurance company in Northeast China, admits that neither the company nor the agent has made any preparations for the "integration of newspaper and bank".
"The company was fully 'double recorded' in October, and now it is organizing to learn the 'double recording' operation knowledge. Our agents are also following the rhythm of the company. ”
Like Liu Li, Li Rong, a senior director of a central branch of another large insurance company in South China, and his agent did not make any preparations for the "integration of newspapers and banks".
"The national policy is implemented throughout the country, and so are we. At present, the individual insurance has not made any preparations for the 'integration of newspapers and banks', and has not considered it much. ”
Unlike the team leader of the above-mentioned large insurance company, who is indifferent to the "integration of newspaper and bank", Lan Jun, senior director of a branch of a small and medium-sized insurance company in North China, has entered a state of preparation for war very early.
"On the 23rd, the 3.0 product was discontinued, and the new product was launched in the early morning of the 24th. As soon as the new product is launched, the initial commission is reduced, with a 5-year period of 40% and a 10-year period of 30%. The company's adjustment is precisely in response to the upcoming 'integration of newspapers and banks'.
Prior to this, we also made predictions -
The first thing to seize is the rank, if you were just a salesman, then now you have to grab the position of supervisor. Because the initial commission has decreased, but the percentage of management interest has not decreased, it is necessary to make full use of the Basic Law.
Second, the decline in the initial commission means that the average premium per piece will be increased, and now the focus is on making 30,000 or 50,000 per piece policies, and in the future, we will do 50,000 or 100,000 policies. ”
Tang Ning, senior director of a branch of a large insurance company in Northeast China, said that as a front-line agent, she pays more attention to the attitude of insurance companies towards agents than the impact of "integration of newspaper and bank".
"At present, the retention of agents depends on whether the insurance company wants to retain the ordinary team or only a part of the high-performing personnel, and most of the loss of manpower is determined by the insurance company's decision-making.
After 2020, the insurance company overexploited the agent resources, less training and less attention to the living environment of the agents, which caused the team to lose confidence.
Although in recent years, due to the adjustment of the general environment, many cross-border high-quality elite talents have chosen the insurance track, but most of them have left in disappointment due to the inability to keep up with training and management. This is also the reason why most of the surviving agents are older or have been in the industry for a long time. ”
Postscript: Another year has passed, and it is difficult to get rid of the cycle of exhaustion
For a considerable number of institutions, the completion of "831" also means that this year has passed.
The next thing to do is to increase the number of employees, train troops, ponder the sales strategy of new dividend products, push a value-based security product, and wait for the arrival of that node on October 1. It's just that this is more about next year's planning and assessment tasks.
From last year's integration of banking and insurance newspapers, to this year's integration of intermediary newspapers and banks, and then to the call for personal insurance that is gradually approaching;
From last year's 3.5% to 3.0% "731", to this year's "good start", and then to this 3.0% to 2.5% "831" under the agent, the agents are just like a "good start" version of busy, the health concerns under the bright lights of the internal office, the new product plan has not yet been promoted, and everything has been pushed back again......
There are even high-star customers who complain to the agent, "Let me give him a star rating, I really don't want to participate in the platform, it's too frequent"......
It's like a cycle of exhaustion, with agents tired, clients annoyed, back-office staff joking at themselves about "sudden death", insurers struggling – and now the year has passed.
Everything is about to start again, and the déjà vu of "who first saw the moon on the riverside, and the river and the moon look similar every year" are back. Although people have been saying that the market is changing, the industry is developing, and the environment is evolving, at present, "Yanbo River makes people worried" will continue to circulate under the bright moon of the Mid-Autumn Festival.