What is mean by Prospecting in Life insurance Sales?

Answer 1

Prospecting in life insurance sales means pinpointing a person who can be approached for purchase of a life insurance company. In fact, prospecting is the foundation in accelerating policy sales to Insurance Agents. The more you are having prospects, the more you are in an advantageous position in your sales activity. While preparing list of prospects, one should take into consideration the profession, financial standing of the person concerned and should include acquaintances ranging from friends circles, relatives, neighbours, even grocers, shopkeepers and son. The agent should always have list of prospects of minimum 100 persons in hand, where as the total should be 500/600 if not more. The list should continue to fluctuate and the daily result of prospecting should be noted down and followed up accordingly. Even, the prospecting can be done by approaching unknown persons while having excess time in hand, which is called cold canvassing. Further, the agent can vouch and contact unknown prospects through net, fix appointment and meet personally later on for concluding the business.