Saturday 23 August 2014

INSURANCE MARKETERS PHONE ETIQUETTE




Improper phone etiquette leads to a loss of customers and poor representation.
A successful business must offer exceptional customer service. For many businesses, a big part of marketing involves phone conversations with customers and clients. It is important to know how to interact with people not only in person at the place of business but also via the phone. Inappropriate phone etiquette can create a negative impact upon any business. 

1.  In the Beginning

o   There is a standard way to answer or initiate a business call that sets the tone for the rest of the conversation, explains customer service skills professional speaker and author Jeannie Davis of Now Hear This. Extend a cordial greeting that makes the person feel comfortable and welcome. You want to make a pleasant first impression. When answering the phone, state the business's name, your name and a helpful offering asking what you can do for the caller.

   2. During a Call
o   Do not interrupt a phone call with a potential or existing customer or client to talk to someone else or answer another phone. This is simply rude and only annoys the person on the other end. Act like you know his time is valuable and that you appreciate his attention and business. Show interest in what the person is saying, and treat every caller like he is important to the company. Even though you are on the phone, you still represent the company.

   3. Facing Challenges
o   Maintain composure, professionalism and an amiable attitude during the entire conversation. For Davis, this means talking as if you have a smile on your face. Unfortunately, not all calls go smoothly. If a caller becomes disruptive, do not hang up. Continue to try and solve the issue. If you can't help, connect the caller with someone who can. Don't let an unsuccessful call or an angry caller get you down and put you in a bad mood. Your telephone voice must seem confident at all times. Never come across as pushy or arrogant, and avoid raising your voice. Generally, if you are nice to callers, they will be nice to you. A little friendliness goes a long way.

   4. Establishing a Relationship

o   Nothing is more irritating for a potential customer or client than reaching out to a company, leaving a message of interest and not receiving a call back. This is basically telling people that you don't want their business and is clearly poor customer service. Always return calls so your company is seen as a reliable business with a great reputation that goes out of its way to assist customers.

    5. Sharpening Skills


o   Train your workers on proper business phone etiquette before letting them answer the phones or make marketing calls. It can be effective to have a meeting and do some role-playing. One person acts as the worker and the head of the meeting acts as the customer. Create different scenarios to see how the worker reacts to varying situations. Afterward, discuss what was done well and what could have been handled better. This exercise will ensure that workers have the tools necessary to provide great customer service over the phones.

Thursday 7 August 2014

NAICOM: NEED FOR APPROPRIATE RATING OF INSURANCE BUSINESSES


Fola Daniel, the Commissioner for Insurance, National Insurance Commission (NAICOM), emphasised the need for operators to ensure appropriate rating of insurance businesses.
Daniel said that pricing competition was gradually killing insurance companies.
According to him, some insurance companies discount insurance businesses to the tune that when a loss occurs they will be unable to settle the claim.
“Insurance is based on probability theory. Probability theory dwells on law of large numbers. The process of insurance is all the insuring public contributing a little money called premium into a basket from which liabilities are met.
“The biggest instrument for insurance companies is appropriate rating which means that those insuring must contribute an appropriate amount of premiums for it to be sufficient to meet losses as they occur. If we fail in this primary assignment then we have sown a seed of failure.
“The capacity of any insurance company to pay claims is significantly eroded if the company does not have enough premium collected upfront to pay the claims,” he said.
According to Daniel, underwriting is fast disappearing; today there is price competition that is inimical to the growth of insurance business.
He said the insurance companies were no longer looking at what the risk is, they are asking what the premium is.
The commissioner said that no degree of prayer, “O God let there be no claims’’, would prevent loss from occurring after huge discounting of insurance businesses.
“Millions of vehicles will be on Nigerian roads every day, God is still on the throne, but there will still be an accident.
“When such loss occurs and the premium is not enough to settle the claim, the company will use the shareholders funds in paying.
“When the shareholders fund is not enough, the statutory deposit in the Central Bank will be utilised as it is still part of the shareholders money,” he said.
Daniel said the unhealthy price competition called for shareholders of the various companies to take interest in what was happening in their respective companies.
NAICOM on July 3 met with Insurance shareholders to tell them to ensure that they find out the true position of their companies during Annual General Meetings.

5 INSURANCE POLICIES EVERYONE SHOULD HAVE


LONG-TERM DISABILITY INSURANCE:

The prospect of long-term disability is so frightening that some people simply choose to ignore it. While we all hope that, "nothing will happen to me in Jesus name," relying on hope to protect your future earning power is simply not a good idea. Instead, choose a disability policy that provides enough coverage to enable you to continue your current lifestyle, even if you can no longer continue working.


LIFE INSURANCE:

Life insurance protects the people that are financially dependent on you. If your parents, spouse, children or other loved ones would face financial hardship if you died, life insurance should be high on your list of required insurance policies. Think about how much you earn each year (and the number of years you plan to remain employed), and purchase a policy that will replace that income in the event of your untimely demise. Factor in the cost of burial, too, as the unexpected cost is a burden for many families.


HEALTH INSURANCE:

The soaring cost of medical care is reason enough to make health insurance a necessity. Even a simple visit to the family doctor can result in a hefty bill. More serious injuries that result in a hospital stay can generate a bill that tops the price of a one-week stay at a luxury resort. Injuries that require surgery can quickly rack up five-figure costs. Although the ever-increasing cost of health insurance is a financial burden, for just about everyone, the potential cost of not having coverage is much higher.


HOMEOWNERS INSURANCE:

Replacing your home is an expensive proposition. Having the right homeowners insurance can make the process less difficult. When shopping for a policy, look for one that covers replacement of the structure and the contents in addition to the cost of living somewhere else while your home is repaired.
Keep in mind that the cost of rebuilding doesn't need to include the cost of the land, since you already own it. Depending on the age of your home, and the amenities that it contains, the cost to replace it could be more or less than the price you paid for it.




AUTOMOBILE INSURANCE:

Some level of automobile insurance is required by law in most places. Even if you are not required to have it, and you are driving an old clunker that has been paid off for years, automobile insurance is something you shouldn't skip. If you are involved in an accident, and someone is injured or their property is damaged, you could be subject to a lawsuit that could possibly cost you everything you own. Accidents happen quickly and the results are often tragic. Having no automobile insurance or purchasing only the minimum required coverage saves you only a tiny amount of money, and puts everything else that you own at risk.


Sunday 3 August 2014

REGENCY ALLIANCE INSURANCE PLC, CELEBRATES 20 YEARS OF DOING THINGS RIGHT

Regency Alliance Plc. on the 20th April 2014 proudly celebrated its 20th anniversary, 20 years of doing things right. Founded in 1994, Regency is a company that prides itself on delivering superior, personalized services to its customers.



The company has been in operation since 1994 as a private company.  Drawing from technical expertise and knowledge of both local and international markets acquired over the past two decades, Regency Alliance offers customized Insurance Products in collaboration with intermediaries and Technical Partners all over the world. 

Early in 2007, three strong insurance brands merged to form what we recognize today as Regency Alliance Insurance, making the company a more formidable force and leading player in Nigeria’s Insurance Industry.

Regency Alliance reached a milestone in 2008 when the company became part of the league of Publicly Quoted Companies.  This was aimed at broadening their ownership structure and expanding operations. As a public quoted company, they have been able to increase their capacity for insuring volatile risks.

At Regency Alliance Insurance they do not only believe in doing what is right always but they have also found that it profitable for shareholders and a tool in earning the trust of their  customers.



Understanding and responding to customers' needs is at the heart of their business. Regency alliance generates sustainable value for its shareholders through a relentless focus on meeting every customers protection needs and a disciplined approach to investing in the most profitable growth opportunities.

A team of highly trained and experienced team is waiting to help you plan for whatever life may bring - a new house or car, or property. They're also there for you when the unexpected happens, like an accident or loss. With Regency Alliance Insurance, you get high-quality coverage, sensible advice and a helping hand.

NIGERIAN CELEBRITIES GET SPECIAL INSURANCE COVER


The entertainment industry in the country has in recent times lost many of its talented members to various ailments, while many others are exposed to work hazards such as kidnap and accidents, which leave their dependents’ to bear the losses alone.

In order to protect against the troubles of sudden deaths and hazards, the CELEBRITIES AND ENTERTAINERS are to embrace special insurance covers specifically designed for them by member companies of the Nigerian Insurers Association.

Like their counterparts in the United States and European countries where there are insurance policies for the artistes and their equipment, the Nigerian thespians and the body of insurers are in serious negotiations for the introduction of innovative products to mitigate potential losses by the artistes.



Various sub-committees have been set up to look into the various policies available for the entire industry as practised in more advanced countries, especially the United Kingdom.
We hope the celebrities would quickly attach themselves to these policies so as to prepare them for the protections against unforeseen occurrences.

MTN NIGERIA IN PARTNERSHIP WITH NHIS LAUNCHES MOBILE HEALTH INSURANCE SCHEME


 The National Health Insurance Scheme (NHIS), in line with its vision of bringing good & affordable health care services to Nigerians, has gone into a strategic partnership with Salt and Einstein MTS, the mobile insurance services aggregator and African leading telecommunications and ICT Company MTN, to launch first-of-its-kind mobile health insurance scheme tagged: MTN Y’ello Health. 




 This new scheme was unveiled on Monday 21th of July at Civic Centre, Victoria Island, Lagos. 



Speaking at the event, the Chief Executive Officer, MTN Nigeria, Michael Ikpoki, said “At MTN, we believe that health insurance contributes to removing the financial barriers to healthcare, giving people unrestricted access to good health care without having to pay out-of-pocket. More than bringing flexibility and ease to paying for health care service, health insurance is also a means of providing greater access to healthcare for larger segments of a population. Indeed we believe health insurance is imperative for closing the gap between the availability of health care service and the ability of the citizenry to access it”.






PROF. DORA AKUNYILIS' FINAL WAY HOME - BURIAL ARRANGEMENT


 

The burial arrangement for late NAFDAC boss Prof. Dora Akunyili has been announced by her family. The burial arrangement is contained in a statement signed by her husband Dr Chike Akunyili which was posted on her Facebook wall this evening. Find it below...
The family of former Minister of Information and Communications, late Prof. (Mrs.) Dora Nkem Akunyili, has released a week-long programme of activities for her funeral, culminating in her burial on Thursday, August 28, 2014.
The programme, released today in Enugu by Prof. Akunyili’s husband, Dr. Chike Akunyili, starts with a Christian Wake-Keep at No. 2A Bishop Onyeabor St., G.R.A. Enugu, to hold from 4:00 p.m. on Friday, August 22. Continue...
A Night of Tributes is to hold at International Conference Centre Abuja from 5:00 p.m. on Monday, August 25, while a Mass would be held for her at Pro-Cathedral Catholic Church, Abuja, by 10:00 a.m. the next day, August 26.

After the Church Service, Dora’s body would leave for Enugu, where there would be a Mass at KSJ Temple at 4:00 p.m. After a High Requiem Mass at Holy Ghost Cathedral Enugu at 9:00 a.m. the next day (Wednesday, August 27), Dora’s body would be taken to UNCOMA Hall, College of Medicine, Ituku Ozalla, Enugu, for Final College Assembly to start from 11:30 a.m. From there, the body would be taken to Awka for Anambra State Government activities, then to Dora’s father’s house in Nanka, before being returned to her husband’s house at Agulu for a Vigil Mass/Wake-Keep.

On Thursday, August 28, Dora’s body would lie in state at John Chike Akunyili’s Compound before leaving for Agulu Town Hall, then Madonna Catholic Church Agulu for a Requiem Mass to hold by 10:00 a.m. Interment at John Chike Akunyili’s Compound follows at 1:30 p.m.

Dr. Akunyili in a statement expressed gratitude to Nigerians for their outpouring of love and support for his family at this moment of grief. “This has gone a great way in helping us to cope with the monumental loss of our precious gem, my beloved wife, Dora,” he said.

It would be recalled that Prof. (Mrs.) Akunyili, a former Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), died last Saturday, June 7, after a two-year battle with cancer.

Prof. (Mrs.) Akunyili, who was a delegate to the on-going National Conference in Abuja, would have turned 60 on July 14, 2014.

Signed:
Dr. Chike Akunyili (Husband)
Enugu, Wednesday, July 31, 2014.


The insuranceandmee.blogspot.com crew pray for the family of the Akunyilis', in this trying times, the Almighty God will be with you all. It is well.

Friday 1 August 2014

UNDERSTANDING THE BASICS OF INSURANCE



Getting the protection you need for yourself, your family and your assets can be a bit overwhelming. But it doesn't have to be. Here's some information to help you make sure all your bases are covered. 

Why do I need insurance?

It doesn’t matter how careful you are, there are things in life you can’t control. And even the smartest plans can come unstuck if you don’t give yourself adequate protection.
Whether you’re looking to protect yourself, your family, or your assets, insurance can give you the second chance you need to get on with life – without having to start all over again.


What types of insurance are available?


Most insurance companies classify their products as either ‘general’ insurance or ‘life’ insurance. 

GENERAL INSURANCE
Many of us may already have some kind of general insurance, particularly if we own a car. General insurance provides protection for loss of your assets. This includes things like your home and its contents, your car, and even travel insurance.
General insurance is a great way to protect your property against the unexpected

 LIFE INSURANCE
Life insurance protects you and your family from the financial consequences of sickness and injury. There are different kinds of life insurance products: 
Life insurance: to protect the financial contribution you make to your family. 
Income protection: to replace your income, living expenses, and business expenses.
Recovery Money: to protect against the financial consequences of trauma and disability.


How do I buy insurance?


 Visit an insurance agent or Brokers: An insurance agent or broker can help you choose the right types of life insurance cover, and work out how much of each you need. They can also help you structure your life insurance in a way that suits your circumstances and budget.

How much does insurance cost?

The cost of insurance is called the ‘premium’. It is calculated based on the amount of cover you want, and the risks associated with the asset you want to cover. You can usually pay this premium monthly, half yearly or annually.


What happens if I need to make a claim?

There’s a perception insurance companies don’t pay up when the time comes for you to make a claim. Call your insurance agent or brokers.

WHY DO WE NEED INSURANCE?



Insurance is a way of managing risks. When you buy insurance, you transfer the cost of a potential loss to the insurance company in exchange for a fee, known as the premium. Insurance companies invest the funds securely, so it can grow, and pay out when there’s a claim.
People need insurance for a variety of reasons. In some cases insurance is required by law; however, there are policies that, though not mandatory to have, do give you necessary protections should you suffer a financial loss. And when you do have an insurance policy, there are certain rights and protections you have under Nigerian Insurance law. Different stages of your life will require different insurance needs, so it is important to review your policies at least once a year to make sure you have the best policy to fit your lifestyle.  

INSURANCE HELPS YOU:
  • Own a home, because mortgage lenders need to know your home is protected.
  • Drive vehicles, because few people could afford the repairs, health care costs and legal expenses associated with collisions and injuries without coverage.
  • Maintain your current standard of living if you become disabled or have a critical illness.
  • Cover health care costs like prescription drugs, dental care, vision care and other health-related items.
  • Provide for your family in the event of a death.
  • Run a small business or family farm by managing the risks of ownership.
  • Take vacations without worrying about flight cancellations or other potential issues.
Take the time to review your policies and contact one of our helpful agents on (08033980081 – ABIOLA) to answer your questions or get advice. A little knowledge can make a big difference when it comes to buying the right insurance protection for you and your family.

HELLO! AUGUST














Those who sow in tears
shall reap with shouts of joy!
 He who goes out weeping,
bearing the seed for sowing,
shall come home with shouts of joy,
bringing his sheaves with him.
(Psalms 126:5-6)

The Month of August will yield Increase to us
As we patiently wait on him.
In Jesus Name. Amen!

HAPPY NEW MONTH!