1973 - 2008

Agenda

• 7 distinct sessions, generally 1.25 hours each• Lots of mini-breaks along the way• Maximum learning – move about, be involved,

question & discuss – but:• Give others a go• Parking area on whiteboard• Remember to laugh and enjoy yourself

1973 - 2008

Session 1Presentation skills

*

1973 - 2008

• Excellence comes with focus and confidence• Confidence comes from skills, technical knowledge &

experience• Focus on “technical knowledge” now• Product opportunities:• Mortgage Protector• Business Disability Cover• Level Term for 9 months• Platinum Conversions• Gold Medal?

1973 - 2008

Mortgage Protector

• Agreed Value (as opposed to Indemnity or LOE?)• Wait and Benefit periods• Financial/occupational underwriting• Add Lifecare?• Understanding “offsets” implications

1973 - 2008

Business Disability Cover

• Agreed value benefit• Underwriting and claims hotpoints• Ideal target market?• Business reality: 2 year benefit is plenty• Let the tax man pay• Free up personal risk premiums (for other biz?)

1973 - 2008

Level Term

• YRT rates worldwide being commoditised• However, IRD rules probably will change for us• Most likely impact, 15-20% increase in term

insurance rates in 12 months time• Level Term versus YRT – pro’s and cons?• Level Term for core (long term) needs• Partial conversions – underwriting issues?• Simple plan – one question with every client review

1973 - 2008

Platinum Conversions

• Standard range good, Platinum range very good• Product feature differences?• Price differences?• Ageing clients?• Benefit to clients of Platinum?• Benefit to adviser of Platinum?• Simple Plan – quote and compare every review

1973 - 2008

Gold Medal

• Permanent versus temporary cover• Understand WOL, then understand unbundled• Benefits to clients of unbundled?• Cash Value versus risk cover – what is paid at

claim?• Is it good or bad product?• OR - when is it good, when is it bad?

1973 - 2008

Marketing

• One hour for HUGE topic – KISS• USP’s• Newsletters/client communication • Client Categorisation• Effective Ads or letters

1973 - 2008

K.I.S.S.

1973 - 2008

Unique Selling Proposition

• What makes you special?• Why should a prospect choose you?• Can you explain in 30 seconds?• Does the client get it?• Is it enough for them to use AND recommend you?

1973 - 2008

What makes you special?

1973 - 2008

Client Communication

• Newsletters – successful format?• E-zines?• Marketing letters• Birthday cards• Calendars & gifts• Special offers (e.g. turbo-booster)• E.g. Photo session voucher

1973 - 2008

Client Categorisation

• What is benefit of categorisation?• What categories (A, B, C? or something else?)• Build marketing and service offering around

categorisation

1973 - 2008

Client Management Plan

• Open Excel sheet “Client Management System”

1973 - 2008

Advertising

• Marketing Project Assessment• What is the purpose? (e.g. sale of specific product, branding exercise,

general advertisement of services/range?)• Who are the prospective customers?• Where will we find them?• How will we attract them, or approach them?• What are we promising them? (the USP, or What’s In It For them)• What facilities or resources do we need to deliver it?• What are the costs of the approach, facilities, resources, and our

personnel time?• If promoting a particular “product” or “service”, what is our gross

revenue expected per transaction?• How many transactions do we need to break even?• To obtain a 25% return, how many transactions do we need?• Is the project feasible from a financial perspective therefore?• How are we going to measure whether we achieved our objectives?

1973 - 2008

Effective Advertising

Example: “Retirement Saving Enough” letter

Why is it effective?

1973 - 2008

Session 3Prospecting

• What’s the problem? Too few people?• What’s the attraction?• Conventional thinking: cold calling, seminars, direct

mail, advertising, networking, centres of influence & referrals, nest/niche marketing.

• Critical thing: Positioning – why should they consider you?

• Referrability and generating referrals• Niche Marketing

1973 - 2008

Session 4AXA Policyholder Servicing

• Introduction: Peter• What are the issues for FMG?• What are the issues for AXA?• What are the issues for clients?• What are the issues for LRA’s?• What is the RIGHT thing to do?• Live examples…..

1973 - 2008

Compliance = Opportunity?

• Overview of likely changes• Impact on Advisers – Oz experience (40,000 to

16,000). Us?• Consumerism – working with the militant consumer?• Your moral obligation to consumers?• Best Practice means what?• How does it impact upon the Business Success

Formula?• How can we profit from it?• If you have an ongoing problem you need a process

1973 - 2008

Remuneration Options

• What choices are there?• Commission – up-front, or spread, or mix. Will the

market wear it?• Client Fees – hourly, or per project. Will the market

pay your true cost? Are you skilled enough to charge well in excess of your true cost?

• Is there room for both?• Is there any legal reason why you cannot use a mix?

1973 - 2008

Business Planning

Business Success FormulaNumber of LeadsXConversion Rate=

Number of CustomersXNumber of TransactionsXAverage Dollar Sale=

TurnoverXMargins=

PROFITS

1973 - 2008

Business Planning

• Know your numbers• If you have an ongoing problem…..process!• Processes wherever possible – HR, IT, SOP’s,

Claims, New Business, Marketing, ???• Creating Focus – Activity Point Scoring = Time

Management• Know value drivers and profit contributors• Think selfish in your planning – it is about YOU• Goals? Where are you now? GAP? = • What can I do about it?

1973 - 2008

Finito