Sales is an important function for an insurance company, as people in sales reach out to potential and existing customers to bring in revenue for the company. Sales for an insurance company happens in two areas:
- New sales: New sales is the sales when a policy is sold for the first time. This sales can happen via various channels. We will look at the different channels in the next section.
- Renewals: Renewals are the sales which happen when a customer renews the policy before it expires. The renewals are not applicable for those policies which have single premium. Renewals are more relevant for term insurances, health, motor, property, fire, marine, and similar type of insurances.
In insurance, sales can happen via various channels. ...
