Success In Insurance Sales - Restructuring Of Sales Force

Success In Insurance Sales

We see rejuvenating sales forces as the number one priority for most established insurance companies in Asia, in particular the local incumbents. However, it is also probably the most difficult endeavor for them, since this involves facing up to a lot of legacy issues, and potentially challenging some highly engrained cultural values at these companies. The pace of these changes reflects the resolve of the top management.

There are some encouraging signs. A few of the large incumbents have started to hire new, better-educated agents and provide them with improved training while gradually eliminating unproductive sales people. Some of the bigger players in Japan and South Korea have started to cut down the size of their housewife agency sales forces.