 Productivity Tip
The most important part of the risk advice process and in fact the whole client relationship in our view, is the initial data capture. Short cut this process and you are on the back foot from the very start, not to mention future liability issues and the FMA. It is where you generally make a first impression with the client and where you lay the foundation for the whole client/broker relationship. It's not actually difficult if you have the right attitude and the right tool. And let's get this out right up front - we could build an electronic data capture module without much effort, but I think to use a electronic data capture in front of a client is just bloody rude and it cheapens your whole advice process. You are hiding behind a screen, so you have a barrier between you and the client, most brokers are rubbish typists so will be more focussed on keystrokes than listening etc... I could go on all day about this. A logically laid out piece of paper is just fine. Our piece of paper has been honed over 20 years and it works.
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Data Capture - the Mentality
| 1. | We have learned many lessons over the nearly 30 years of selling insurance, and the number one would be to go into a first meeting 'naked'. |
| 2. | The less you turn up with, the more successful you will be. |
| 3. | Our clients never see a laptop, I don't have an application form in the car, and they get seen at their place. |
| 5. | If you have an application form 'handy' you will be thinking about making a sale. You are not there for that - the sale comes as a byproduct of your data capture and advice process. |
| 6. | If you are not seeing them at their place, then you clearly don't give a toss about your persistency. If they live or work like pigs, that's how they will run their affairs. It's not smart to do the work and not get paid. |
| 7. | Tell them when you make the appointment, that on the first meeting all you are there to do is to pick up the information for the report. You will almost hear the sigh of relief... |
| 8. | Fill out everything on the data capture form - ask all of the questions. Don't skip something because you are embarrassed about asking the question - income, assets, liabilities etc... |
| 9. | If they don't want to answer any of the questions - particularly the ones above, pack up and go home. Think about your liability for giving advice when you don't have all of the data. The FMA will have a field day. Explain this to the clients. If they are still not happy about giving the information, then it is your fault for dealing with School Teachers in the first place. |
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Data Capture - The Process
| 1. | Open up your folder, get out 2 data capture forms |
| 2. | Turn one around to face the client and step through the basic things you will be picking up data on. |
| 3. | Ask if they are OK with this. |
| 4. | If they are, proceed to ask the questions, listen hard to the answers and write them down on your copy of the form. |
| 5. | Back at the office, enter all of the missing data into E-Broker. |
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See Also: Data Entry Screens
