Generating maximum business

The first role of the insurance advisor is to generate as much new business for the insurance company as possible. This can be achieved by selling the maximum number of policies to his/her clients. An insurance advisor, therefore, should approach as many individuals as possible and try to position the company’s insurance policies in the individual’s financial needs if possible.

Persistency

Just selling insurance policies is not enough. The insurance advisor should also ensure that he/she can retain the customers of the company. Persistency is an important factor in the insurance company’s revenue. Persistency shows how many policyholders are continuing with the same plan with the same insurance company. Persistency is particularly important in case of life insurance policies which are long term plans. Under these policies, the continuity of the plan for the stipulated tenure is in the best interests of the insurance company as well as the policyholder. The insurance advisor should, therefore, ensure that his existing clients continue their insurance coverage without fail.

Promoting the insurance company

Another role of the insurance advisor is to promote the insurance company with which he/she is associated. Only when customers trust an insurance company would they buy the company’s policies. The advisor should, therefore, build a positive brand image of the insurance company in the eyes of his/her clients and improve the company’s goodwill.