Citibank Insurance Selling

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I would like to write a report to analyze the insurance team in Citibank. Most banks in Hong Kong do not put money to install a inbound insurance team, so inbound telemarketing sales in bank is not very common in Hong Kong. Citibank installed a card activation team three years ago which helps customers to activate their credit card by phone and cross sell personnal accidential insurance through the conversation in the day time. The personnal accidential insurance is provided by Zurich Insurance Limited. No matter applying a new credit card or renewal when a credit card is expired, customers are required to call the hotline to activate when he/she receives a new credit card. Instead of doing the activation process through a voice system, we got into conversation with customers. After doing the activation process and answering all of his/her enquiries, we will introduce our product which is a personnal accidential insurance to him/her. In order to running this business in Citibank, we need to achieve $1,300,000 premium target per month as a team. The selling price of the personnal accidential insurance plan costs $88 per month, so the premium of each customer is $1056. Targeting customers group is aged in between 18 to 65. Each cardholder can add his/her spouse to get this offer also. Moreover, if the cardholder has sons and daugthers who is a full time students under 24 years old, cardholders can buy for their kids as well. Child plan costs $53 per person, so the premium of each child is $636. We have 15 telesales in the team. As one of the telesales there, I need to achieve $88,000 premium target per month. Assuming there is 20 working days in an month, it means that I have to achieve around $4400 premium each day, which is about 4 to 5 orders per day. All credit card holders in citibank who are in between the age of 18 and 65 are eligible to join this

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