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What types of vehicles can be insured through the casco policy?
- Wheeled self-propelled vehicles - Towed vehicles (trailers, semi-trailers, caravans, etc.)
What does full casco insurance mean?
• There is no full casco in Romania because, just like any other insurance, casco also contains insured risks, mentioned in the policy, completed with the related exclusions, also specified in the policy
How do I choose a casco insurer?
• My recommendation is to orient yourself by the number of petitions and by the weight of well-founded petitions • You can access the ASF website for this purpose
How do I proceed in case of partial damage?
• It would be ideal for the client to call his intermediary, so that he, depending on the insurer and the type of damage, tells him the steps to follow • But, always, the insurer must be notified as soon as possible (usually within 72 hours maximum), without exceeding the term provided for in the insurance conditions, which may vary between insurers
How is the insured sum determined at casco?
• It is determined as the market value of the vehicle at the time of its insurance • The insured amount depends on the degree of wear and tear applied to the new value of the vehicle • Each insurer sets its own attrition grid, for each year, and falls within certain limits
How much money do I get back if I cancel the casco policy?
• Depends - If there were no claims on the policy, the insurer pays an amount proportional to the number of days remaining until the end of the policy (pro rata principle) - If there were damages on the policy, the insurer pays nothing
If I have more claims during the policy, will they be covered in full?
• Depends • There are some insurers where the recovery of the insured amount is automatic, being included in the basic package • With other insurers, this clause is optional • In any case, the number of claims covered by the policy is limited (for example to a maximum of 3 claims per year)
Can I cover the repair with new parts?
• It depends on the option chosen as coverage • Each insurer has a different policy on this, but most insurers cover repair with new parts
Is the casco policy valid without ITP?
• Not
Can cars be insured over 10 years?
• In general, no • There are exceptions, but the written consent of the insurer is required to offer and issue the policy
Under what conditions can the casco policy be terminated?
• There are two situations: - Termination (termination) is requested by the client • It can be unilateral, with a predetermined notice period • It can be through the alienation of the insured object • May be in case of total loss - Termination (termination) is requested by the insurer • It can be unilateral, with a predetermined notice period • By termination due to non-compliance with the obligations assumed by the contract (non-payment of premiums or essential change in the circumstances regarding the risk – for example switching from private use to taxi) • Note: according to the latest ASF regulations, the term "termination" has been replaced by "termination" and "cancellation" by "dissolution"
In which service should I repair my car?
• It depends on the insurer and the option chosen • In general, it is advisable to go to a service in the network with which the insurer has a partnership
What are the advantages of verbal presentation of insurance solutions?
- Visual contact, so the possibility of influencing the client through non-verbal language (mimicry and gestures) and para-verbal language (voice) - Ability to respond on the spot to the client's questions and objections - The possibility to "read" the client
What are the advantages of submitting insurance solutions online?
- The main advantage of online communication is the saving of time; sending a message takes a maximum of 1-2 minutes - The second advantage is the possibility of rereading the message - Last but not least, reducing the number of omissions and errors, by using communication templates
What are the stages of the oral presentation of insurance solutions?
• In order to understand why he needs a certain insurance, the customer must first remind himself that... he has a certain need • Therefore, before presenting the solution you propose to him, it is good to recapitulate the insurance needs of the client and his family
What rules are important when presenting solutions?
- Insists on covering major risks (death, disability, serious illness, home destruction, business destruction, damage caused to third parties), as the case may be - If the client is concerned about certain risks, major or minor, mention them; it is what "hurts" him and pushes him to insure himself - Speak clearly, briefly and to the point - After each important topic check what the client understood - From time to time ask for confirmations from the client - Pay attention to buying signals and if you notice them, propose to complete the sale! • Dribbling is important, but the goal is to score goals!
What does "benefit" mean in insurance?
• When you buy a product or service that you want, the benefit is joy...pleasure...well-being...delight...delight...comfort...luxury... the pride... • But when you buy insurance, what is the benefit? • You keep the insurance policy in a drawer or in a folder on your laptop... • You don't enjoy it, you don't admire it, you don't use it, nobody sees it, you can't brag about it... • And this can take years on end… • So why do you buy it? • An insurance takes a burden off your shoulders • When you bought an insurance policy you breathe a sigh of relief • The benefit of insurance is the feeling of security • You have not added something to your life, but you know that you will not lose something from your life
How do you communicate insurance solutions to the client?
• We are in the 21st century, in the midst of the era of digitization • You can take advantage of digitization to deliver insurance solutions online • Or you can choose the usual method of presenting solutions to clients in a face-to-face discussion • Each method has both advantages and disadvantages
How do you present business insurance?
• The SME policy ensures the reduction of losses in the event of a risk, by compensating for damage to the building or its contents: stocks, machinery, etc. • The business interruption clause provides you with the financial support for restarting the business, by covering fixed costs, including additional ones, as well as partially unrealized profit • The policy also covers any damage caused to third parties – bodily injury or material damage, thus protecting the company's reserves and assets
How do you list death insurance?
• No one can replace either the spouse or the parent • Unfortunately, the disappearance from family life brings with it another trouble - the disappearance of income • No one cares what happens to their loved ones • Every adult who loves his family makes sure that they are well, even in good times, but also in case of... • You think and feel the same way • That's why you want to buy a death insurance, by which you leave the family the sum of... lei • In this way, in case of premature death, your wife will receive, immediately, in advance, the equivalent of your salaries for... years • Make this gesture knowing that you, personally, will never benefit from this policy • But it will mean invaluable help and brighten the days of loved ones, if a tragedy occurs
How do you present your home insurance?
• This policy allows you to buy a new home, with comparable parameters and the same level of comfort, if the current one is destroyed • It also gives you money to repair or replace damaged or stolen goods • Moreover, any damage caused to your neighbors – for example, if you flood them – will be paid by the insurer, instead of you
How do you introduce joint life insurance starting with protection?
• Throughout the duration of the policy, starting from the first day, your life is insured; if you die prematurely, your loved ones will immediately receive, in advance, your salaries for... years • If you will be with your loved ones when the policy matures, receive the sum assured and enjoy with them • It is important to remember that whatever happens to you, the same amount of money goes into the family
How do you present additional life insurance clauses?
• Additional clauses can compensate for the drop in family income if you die prematurely • Additional clauses give you money for treatment and protect your savings • Next you use the "domino principle" to explain the benefits of the exemption clause from paying premiums in case of disability • From what source will you pay the premiums? • Do you work for a salary, or do you receive it as a gift? • In order to work, the first condition is to be able to work, agree? • If there were an accident that would make you unable to work, the salary would disappear, but so would the insurance, wouldn't it? • If the insurance continued, unchanged, being paid by the insurer, what would you say?
How do you present the savings plan for the child?
• The child will receive the amount of... lei at maturity, no matter what happens to you: • May you be with him, and celebrate together • Whether a misfortune took you away from your family • In this tragic situation, your wife will receive, immediately, once again, the same amount that the child will receive at maturity (if the insured's death clause was attached)
How do you present the unit linked policy?
• If you are willing to take a risk, you can invest some of your savings in the unit linked policy • The insurer will invest your money in the funds you choose - riskier or less risky - and at the maturity of the policy you will receive the amount resulting from the investments • You can reduce the investment risk through a long investment duration of over 20 years • You will also be able to invest any additional savings that occur during the contract • I recommend making additional payments when fund units are cheap
What are the stages of the "three-legged table" method?
• Each of the stages has an important role • Whichever step you skip, it will be harder for you to reach your goal
What are the advantages of using the "three-legged table" method?
• Using this technique helps the client to be aware of most, or sometimes even all, of the risks they are exposed to, and not just the ones they suspect, such as crashing your car or being flooded by your neighbor • The client understands the risks to which he and his family are exposed, and subsequently chooses the one that worries him the most; it may be a risk he never even thought about until he talked to you • "360°" awareness of the risks to which the client is exposed allows the intermediary to sell optional, complex insurances, therefore insurances with high added value
What mistakes to avoid in the awareness stage?
• The need awareness stage is critical, especially with new customers • Being, often, the first discussion with the client, he is curious, if not suspicious, regarding the intermediary • The client tries to read you and realize, first of all, if you are a serious and reliable person • Mistakes made at this stage have a high price: the future of the customer relationship • If he assumes that you are not a trustworthy person, he will not buy from you; he won't give you his money - Examples of common mistakes: - You talk too much - You listen too little - Get rid of the "hooks" that the client offers you - Present the products prematurely • You fall into the trap of prematurely discussing price • If the first conversation with the client is also the last, without having managed to sell him a policy, you have probably committed - and you - at least one of the above mistakes...
What rules are important in the awareness stage?
- Listen carefully to what the client says or answers; that's the only way you'll understand it - Look for "hooks" and fructify them; they will help guide the discussion to completion - Look at the interlocutor; you will also notice what he thinks but avoids saying - Speaks in the client's way; you are not there to impress him, nor to upset him, but to convince him to buy insurance • Use pauses to emphasize important ideas • Write down important ideas; otherwise you will forget them
What stages does the customer go through in the awareness process?
• First stage - "I ignore the risk because I am sure that nothing can happen to me" • The second stage - "The risk exists, but I don't think I will suffer something myself" • The third stage - "The risk exists, but if it occurs, then I find a solution on the spot" • Fourth stage - "I am concerned about this risk and need to protect myself" • Most Romanians are in the first stage • Your role is to "push" the client to the fourth stage • This pathway is called awareness of insurance needs
What stages does the customer go through in the awareness process?
• Attention! • Protection needs exist, they are objective, regardless of the client's perception • Why? • Here is an example: • Everyone needs a home, right? • Yes • Is there a risk that the home will be destroyed? • Yes • If the home is destroyed, will the client and his family need a new home as soon as possible? • Yes • Other than insurance, where can you get a large amount quickly? • Out of nowhere • So does the client and his family need home insurance? • Yes
What are "hooks"?
• "Hooks" are keywords from which you can deduce what the customer is concerned about • "Hooks", uttered unconsciously, often express whatever is really important to the client • If you link these "hooks" to the idea of ​​risk, the client will be much more willing to protect himself with insurance • Your mastery will be to detect and take the "hook" and get close to a risk that worries the client
What to do so that you don't lose sight of the "hooks" that the client offers you?
- To think and extract the really important information from everything the client tells you - To develop your ability to transform the client's ideas into insurance needs • Concretely, it means to constantly run the following question in the mind: • How can I convert this idea into an insurance need? • This skill develops through practice and concentration • That means talking to hundreds of customers • It means to have your mind there, at the customer, and not elsewhere • BrainO gives you examples of possible "hooks" that you can use to track down the actual "hooks" your customers are giving you
How can you present the purpose of the discussion?
• The purpose of our discussion is to help you understand the risks you and your family (and possibly your business) are exposed to, so that you can make the best decision for your family's safety • The optimal decision means that whatever risk occurs, your family is protected • Will the life of the family after the occurrence of the risk be the same as the life now...? • Some clients follow my advice, and others postpone or refuse, and then take unnecessary risks • No one ever suffered because they had "too much" insurance, but many have suffered because they lacked the right insurance
How to avoid presenting products prematurely?
• Premature presentation of products creates the impression of haste, superficiality and lack of professionalism • The client deduces that you make the same presentation in front of all clients, so the products are on the first plan, and he, as a person, as a family member, as a businessman, is on the second plan • And the natural reaction will be to look for your "knot in the rush"... this product is not necessary for him... he does not trust this product... he heard about this product that it is expensive... etc. • You yourself generated exactly what you wanted to avoid: objections • Specifically, avoid statements like: - We have everything, whatever insurance you want, you can find it with us (if the client wanted one of these policies, he came to the office himself...) - I can provide you with an insurance of... what do you say, are you interested? (if the client wanted this policy, he came to the office himself...) - Don't you want a policy of...? (induce the answer "I don't want to") • However, there is an exception to the rule, namely the situation where the customer has told you on the phone that he is interested in a certain type of insurance • Then you can discuss that insurance, ask for the information for the quote, but also try to do a complete risk analysis of the client's family and business • If you succeed, good; if not, that's for another time • Either way, the customer is better protected with that policy than before
How to avoid talking too much?
• When does the tendency to talk more than necessary occur? • Usually, when you fail to provoke the client to dialogue, and to avoid the awkward moments where you stare at each other without saying anything, you start touring... • How can you avoid this situation? • Learn to sell insurance • What does it mean to sell insurance, and what does it mean to issue policies? • Issuing policies essentially means using the issuing programs; this can also be done by an official with the necessary technical knowledge • You can sit in your office and issue policies, 10 years in a row, without knowing how to sell policies • What does it mean to sell insurance? • It means making a customer understand the need to protect himself through insurance and inducing the urge to buy that policy • BrainO gives you the information you need to sell policies
How not to fall into the trap of prematurely discussing price?
• Price? • Whose price? • For which of the 200 types of policies will you tell the price...? • As if you were at a doctor and you ask him how you entered the office door and how much the treatment costs, without him having any idea what disease you have... • Customers are tempted to ask about the price of the policy at the early stage of the discussion • Discussing price prematurely is a surefire way to miss the sale • Concretely, how do you proceed if the customer asks you prematurely about the price? • Here is a variation: • It's good that you're interested in price, we'll get there, but until then you're definitely interested in how insurance can benefit you • Tell me,... (resuming awareness talk)
How can you introduce yourself?
• Choose from the phrases below the ones that represent you and by combining them build an impactful personal presentation: - I have been working in insurance for... years and I specialize in family and business insurance - Clients appreciate me because I help them be and feel safe - They know that thanks to me and the company I represent, they are well protected against risks - I'm one of the best consultants in the firm (only say this if it's true and you feel comfortable saying it)
How can you present your work strategy?
• In order to be able to recommend the right solutions, I need to understand your family's situation as well as possible • That's why I'm going to ask you some special questions that I ask all my clients • You can draw a parallel with a medical consultation; and the doctor, before prescribing your treatment, asks you about your health status • I will do the same, only we will discuss the financial security of your family • Please ask me whatever you feel the need and whenever you feel the need • Is OK?
Why is it good to make a personal introduction?
• Self-presentation isn't about saying your name, it's about confidently and confidently stating who you are as a professional • Asserting, from the very beginning of the conversation, your status will place you on the same level of power as the interlocutor, even if you are talking to a rich, influential and full of himself businessman • Your interlocutor will understand from the start: in his field he is the specialist, but in the field of insurance you are the specialist • Otherwise you risk feeling small and humble in front of a client with a strong personality
Why is it good to introduce the purpose of the discussion?
• Customers usually expect an insurance broker to start raving about their products - which are obviously the best - and their prices - which are obviously the lowest • To refuse him, for various reasons... • If you state the purpose of the discussion, you will surprise the client and at least he will become more curious to listen to you • Which means a step forward
Why is it good to present your work strategy?
• Customers are not used to being asked questions, especially uncomfortable or thought-provoking questions • They are used to being presented with products: "We have...", "It's the best...", "It's the cheapest..." etc. • But making a client aware of the risks is done by asking questions that may create temporary discomfort; nobody enjoys discussing troubles • But ignoring risks does not mean eliminating them • That is why it will be easier for you if you familiarize the client with the fact that you will ask him questions
Why is awareness of protection needs needed?
• Awareness of protection needs is needed because Romanians are not used to taking care of themselves • If his home is destroyed, the Romanian expects the "state" to offer him another... • In order to have a decent pension, the Romanian expects the "state" to offer it, without asking other questions, for example where the money comes from... • And to escape from any trouble, the Romanian knocks on wood or says "God forbid" and considers himself protected • The Romanian is not aware that risk is a certainty in our lives
Why is it necessary to ask awareness questions?
• An insurance, of any kind, produces its effects only when a risk has occurred • For the client to imagine the consequences of producing that risk, and especially to imagine how he will feel then, awareness questions are needed • The role of awareness questions is to make the client feel what he will feel in reality when a risk occurred: when his house burned down, when he got cancer, when he hit a pedestrian, etc. • And how will he feel when he looks into the eyes of his loved ones, after the misfortune happened... • If he understands what is waiting for him, the client will understand that he needs to make sure • Having enough insurance is good for the whole family
What is the advantage of approaching strangers?
• Due to the surprise effect, the people approached become curious: • "Who will be the one approaching me?" • "If he has this audacity, it will be something on his head" • If he will buy from you, a person approached directly will do so only because you convinced him, through your salesmanship • Relationships built from scratch are often more likely to last over time • The stranger you approached and convinced does not feel obligated to you in any way • If they insure themselves with you, they do it because you are a good agent
What is the difficulty of approaching strangers?
• You have to know how to do it • That is, to be able to conquer a stranger and then "tear" a policy from him
What are the steps to obtain a database from a specialized site (example: termene.ro)?
- You choose the localities - Select the companies in operation - Select the companies that have contact details (phone / website) - Segment the database (CAEN) - Download the database - You copy the information into your database (for example a CRM or Inteligenda) - Segment the database (CAEN), as follows: • You choose the field of activity you want to tackle • Find out the corresponding CAEN code from Google • Filter the database by CAEN code - Download the database
What actions can you take to increase your reputation?
- Learn the role and mechanics of insurance to master it - Learn sales techniques so you can approach any customer - Work organized so that you can use your time as efficiently as possible - Serve customers so they feel compelled to recommend you - Build a network of specialists to consult with and to quickly issue your offers and policies (e.g. product managers, possibly risk inspectors) - Attend meetings - Build an interesting social media profile - Learn to use digitization: databases, applications, online search, BrainO
What methods can you use to get referrals?
• How you can get referrals…
What can you post on social media?
• Something to represent you • Which outline your personality • To convince someone who doesn't know you yet to want to know you
What to avoid posting on social media?
• Vulgar messages and images • Messages written incorrectly grammatically • Băscalie • Pictures from family life
What types of messages can you post on social media?
- Interesting things - Educational messages - Beautiful things - Quality humor
How do you create the right context for asking for referrals?
• The favorable context for asking for recommendations is the one in which the interlocutor:
How do you get the name of a professional to help someone?
• If you get the phone number, you call and discuss a pro-professional topic, you write down the client's details in your workbook and after a time interval you call to discuss insurance
How can the number of customers increase?
• The number of customers can increase in two ways: • The two methods influence each other: the more customers you find, the more customers will look for you
How can you approach strangers?
• With the conviction that you are doing them a favor • And that good must be done as quickly as possible • So that you don't get sick before... • Because risk is a certainty • In anyone's life
How can you ask for referrals when the client has realized how valuable you are?
• Thank you for your likes • It's nice to have people speak well of you • Then continue with one of the scenarios below:
How can you ask for referrals?
• Recommendations are a good source of customers, because they present two advantages: - You have access to people who would otherwise be practically impossible to reach - It relies on reliable transfer • If you feel uncomfortable asking for referrals, you probably don't have enough confidence in yourself yet - so here's your work • Like enough assurance, enough confidence is gained over time, and you have to move in that direction with small, sure and steady steps
How can you search for customers?
• Searching for customers is a laborious process and should be constant • The period we are going through offers both advantages and disadvantages • Advantages: communication is greatly facilitated by the level of development of communications, the Internet is an inexhaustible source of information • Disadvantages: GDPR regulations impose restrictions on access to natural persons • Knowing these things you can build an effective personal prospecting strategy • What methods can you use to look for new customers?
How can you use databases?
• There are sites where you can get complex databases, with commercial companies in your area • There are free databases and fee-based databases • In addition to the fact that you instantly get all the information you need about commercial companies, using databases also has an important advantage: there are no restrictions imposed by the GDPR!
How can you use social media?
• Social media will not produce an explosion of sales • But if you post consistently, and the posts are quality, they will bring you customers • You will find something gratifying: the completion rate of requests on social networks is almost 100% • The explanation comes from the fact that those who contact you as a result of your posts trust you and appreciate you as a professional
How can you use specialized sites?
- Determine a field you want to focus on - for example "PSI equipment distributor", "installations" or "general trade" - Search the internet for the field of activity you have chosen - Corroborate the information obtained (company + administrator + telephone) - Write the information in your personal database (for example CRM or Inteligenda) - Sounds! • Important: because you obtained the information from a website, you can call the contact without being exposed to GDPR restrictions • Caution: in the initial approach to the client, refer exclusively to business insurance
How can you use public meetings?
• Meetings are great opportunities to make yourself known and get new names • Various exhibitions, conferences, symposia, congresses, seminars, job fairs, etc. are organized in the cities • The organizers are the Association of Business People, the Chamber of Commerce, the College of Doctors, the Union of Architects, ANEVAR, the Union of Public Notaries, the town hall, universities, various youth associations, various NGOs and many others • Try to join as many professional and business organizations as possible and follow the calendar of activities • Try to give and especially get as many business cards, leaflets, brochures, presentation folders and any other materials from which you can get information. • Try, especially in the case of professional meetings (e.g. doctors, architects, notaries, accountants) or businessmen, to make a short thematic presentation • For example, if you attend a meeting of business people, you can make a presentation on the topic "Why insure your business?" • The actual presentation can be made on slides and should not last more than 5...10 minutes • At the end you can organize a question session, which also must be within a maximum of 10 minutes • You can also use a personal presentation roll-up, which you can place next to you, in front of the audience • BrainO can help you prepare short thematic presentations • Keep in mind a major advantage of this way of prospecting: there are no constraints given by the GDPR!
How do you resolve the objection "I already have an agent" or "I already have insurance"?
• I understand you and I can only congratulate you • But... there's no way he's as good as me, your agent... (smiles) • But it's OK • It was a pleasure to meet you • Please keep my business card • You never know… • And anyway, if you have any questions that your agent doesn't have an answer to, please call me
How do you deal with the objection "Insurance? Nooo...!"?
• I understand you • It's a reaction I expected • I wanted to propose that we get to know each other and tell you briefly what I do, and only if you are interested, then let's deepen the discussion • What do you say?
How do you handle the "No thanks" objection?
• All right • I realize that my approach took you completely by surprise • I can give you my business card • Thank you and I apologize once again for bothering you
How to behave to increase your reputation?
- Speak civilly - Dress decently - Be respectful - Listen - Keep your promises - Constantly analyze yourself and try to be a little better tomorrow than today
How can you increase your reputation?
• Everything you do, good or bad, affects your reputation • Building reputation is an ongoing process, which you can influence by the actions you take and the way you behave
When is the interlocutor happy to recommend you?
• When you are in a favorable position • For example, when talking laudatory about insurance; the interlocutor will be proud to know you and brag about you
Why are customers looking for you?
• Customers look for you because of your reputation • This is the ideal of every intermediary: to be sought by so many customers that he earns well enough and does not have to prospect • If you observe the middlemen who earn a lot of money, you will find that most of their time is spent talking to clients and issuing policies, and not looking for clients • Some of these intermediaries hire a personal assistant to take care of routine work such as issuing compulsory and popular policies and collecting installments
What is the role of the insurance intermediary, from the customer's perspective?
• The role of the intermediary is to convince each customer to buy as many of the policies as possible that provide him and his family with enough insurance • An intermediary is really good when his clients have financial security, so they are at least protected against major risks
What is the role of the insurance intermediary, from the customer's perspective?
• To fulfill your role you have to insist • Civilized, but insist • The intermediary must be a discreet but constant presence in the family life of each client • Because where middleman fails, mischief can succeed • Because fire, death and earthquake come unannounced • Don't shy away from excuses like "Well, what should I do, if the client only does the mandatory and casco?" • Your role is to sell value added insurance ie optional policies • If you reduce yourself to the mandatory and the casco, the customers don't need you • Soon they will be able to buy these policies on the Internet • And then why should they pay you?
What is more urgent, protection or saving?
• To save there must be a constant and long-term financial surplus • But the financial surplus will disappear quickly, if - ... burned down your house - ... you have become unfit for work - ... you have debts to pay • The order should be this: first protection, against all major risks, and then saving, as much as possible
What is more urgent, protection or saving?
• But if a customer insists on buying unit-linked, with the minimum sum insured, even though he has a child, a home and a business, and he doesn't have enough insurance, what do you do? • You sell him what he wants • But you will still insist that he buy policies that provide him and his family with enough insurance • Your role as an insurance broker is to sell your customers enough insurance • Why is this your role? • Because what you sell - insurance - is the only way customers can get financial protection • Remember: the only one • Savings methods... there are plenty more
What policies protect what the family has?
• ... So the house, the car, the savings, the business? - Specifically: - Comprehensive home insurance - Helmet insurance • Business insurance • And generally, any type of insurance protects family savings • In the absence of insurance, the consequences of producing a risk are eliminated by calling on one's own savings
What policies protect the family from accidental payment obligations?
• All liability insurance protects the family from accidental payment obligations • If you flooded the neighbor below, and you don't have liability insurance, take a few hundred Euros out of the bank and paint his apartment • But if you have fatally injured some pedestrians, and you are obliged to pay hundreds of thousands of Euros, how will your family's life continue, if you do not have RCA...?
What policies protect the family from accidental payment obligations?
• RCA, professional civil liabilities and others, are not mandatory because "that's what the state wants" • These policies are mandatory to protect both the person responsible for causing the damage and the person who suffered the damage • How? • The one who suffered the damage is quickly compensated by the insurer, without having to endure the ordeal of lawsuits that last for years • The person who caused the damage preserves his savings, income, properties, and implicitly the good life of his family, because the damage is paid quickly, by the insurer, and he is not obliged to go through the courts for years...
What policies protect family income?
• Family income can come from salaried work (or commission, honorarium, royalties, etc.) or from dividends • The insured's income can be protected by: - Temporary work incapacity insurance - Business interruption insurance - Unemployment insurance • The income of the insured's family (wife, children, etc.) can be protected by: - Death insurance
What risks can affect a family's financial security?
• A fire or an earthquake can destroy the home or business, a road accident can destroy the car, so they will affect material comfort • An accident or a serious illness can lead to incapacity for work or death, so the family's income will decrease or disappear • A moment of inattention or a human error can generate damage to third parties, so accidental debts
What risks can affect a family's financial security?
• These are the major risks and must be covered with priority • All others, which may erode savings but will not affect the financial security of the family, are minor risks and can also be insured • Bringing up major risks increases the chances of completion and reduces the likelihood of objections • A customer can say that he has 500 Euros to paint his apartment, but it will be much more difficult for him to say that he has 100,000 Euros to buy a new home
What does it mean for a family to have enough insurance?
• And when you consider that most customers think that an RCA is enough for them...! • Do you realize how many policies you can sell your customers because they urgently need them, even though they don't realize it yet? • You will be able to try to sell other insurance policies only in families where there is not enough insurance yet • Are there many families in these? • This is probably 99% of families!
What does it mean for a family to be financially secure?
• A family is financially secure if: - There is material comfort (housing, car, savings) - There is a decent and stable income, from salary, commission, or from a business - The family is solvent • Whatever may befall
What does material comfort mean?
• It primarily means that the family has a sufficiently spacious and well-equipped home so that the family members feel comfortable in their home • For most families, material comfort also means a personal car • Any family wants to put money aside and use the savings to purchase goods, for trips, for home renovation or for medical treatments • Even if you have a decent income, even if you have no payment obligations, but if your home was destroyed, which can be worth tens of thousands of Euros, the well-being of the family will be seriously affected
What does it mean to be solvent, i.e. to have no accidental payment obligations?
• It means having a sufficiently consistent source of money so that a possible payment obligation, even in the order of thousands or tens of thousands of Euros, is covered • Even if you have material comfort, even if you have a decent income, but if your family will be forced to pay large sums of money, the family's well-being will be seriously affected
What is a decent income?
• It means that the family's income covers current expenses and at the same time there is the possibility of saving some sums of money for emergencies or for distant goals • Without an income you will have to resort to savings - if there are any, and if you don't have "white money for dark days", you will have to sell your goods or even change your home • Even if you have material comfort, even if you have no payment obligations, but if your income, necessary for daily living, has disappeared, the well-being of the family will be seriously affected
What is the well-being of a family based on?
• Think about your family • The well-being of any family living in a civilized society depends on three factors (pillars): • Whichever of the three factors is missing, family life is severely affected
In conclusion, what does it mean for a family to have enough insurance?
• A family has enough insurance if: - Husband and wife have death insurance, with clauses for disability and critical illness - Housing is insured through a complex policy - The car is insured by RCA and casco, in that order, and not because the law requires it... - The business is insured (if applicable) • After the family already has enough insurance, if the family's income is above average, part of the savings can be placed in a savings life insurance • Any additional clauses covering minor risks increase family protection
Is the second claim on the EEI policy covered in full?
• The second damage can be compensated in full, if the insured has paid the premium difference requested by the insurer in order to complete the insured amount
What is the maximum age of the appliances that can be insured under the EEI policy?
• The maximum age is 5 years, when the first policy is issued • Some insurers accept policy renewals until the devices are 10 years old, if there has been no damage
What are the main exclusions?
• The EEI policy does not insure: - Normal wear and tear - Consumables (eg fuses, batteries, filters, belts) - Various types of tools (eg knives, drills, cutters) - Electronic tubes - Gross fault, gross negligence or intentional risks
What is EEI insurance?
• EEI is an "all risk" insurance for electronic equipment
What is "all risk" insurance?
• An "all risk" insurance is a policy that covers all risks, except exceptions • By comparison, a "named risks" insurance, such as, for example, the SME policy, covers exclusively the risks named in the policy
What information do I require to offer EEI?
• The following information and documents are required for bidding: - Brand, type and serial number of the devices - Manufacturing year - The new (catalogue) value of the devices, ideally to obtain the purchase invoices - Details of the building where the devices are located (similar information to that for SMEs)
What role does the EEI policy have for the insured's family?
• Because it offers complete protection for electronic equipment, the EEI policy ensures the reduction of losses in the event of a risk • The EEI policy represents an important pillar of support for a family whose well-being is given by a business based on electronic equipment
What sections does the EEI policy contain?
• The EEI policy contains three sections:
What type of appliances can be insured through the EEI policy?
• Any type of static electronic devices, used in fields such as trade, industry, research-development or education, with a maximum age of 5 years can be insured • Under certain conditions, some insurers also accept the insurance of mobile electronic devices, i.e. which are also used outside the premises (for example measuring devices)
How do I present the EEI insurance?
• The EEI policy covers virtually any risk that can damage or destroy the equipment on which your business relies • In addition to the risks usually covered by insurance policies - fire, calamity, theft, etc., the EEI policy covers many other risks such as human errors, technology breakdowns, voltage fluctuations or ill will from third parties
How is the amount of compensation determined?
• If the repair costs do not exceed the new value of the insured property, the repair value will be paid • If the repair costs exceed the new value of the insured item, the new value of the device, written in the insurance policy, will be paid
How am I compensated under the EEI policy if the damaged parts are no longer available on the market?
• If the spare parts are no longer in series production, the compensation will be given in money, based on the actual value of the insured item
Are consequential damages covered under the EEI policy?
• Yes, certain consequential damages are covered • For example, if a part that has burned causes the failure of a module or the entire equipment, this risk is covered (consequential damage)