AN EVALUATION OF EFFECTS OF PERSONAL SELLING ON INSURANCE PRODUCTS SALES: A CASE STUDY OF SALES MADE AT SANLAM LIFE INSURANCE LIMITED NAKURU KENYA

Abstract

The main objective of the study is to evaluate the effects of personal selling on insurance product sales at Sanlam Life Insurance Limited Nakuru Kenya. The study specifically sought to determine the influence of the effect of personal selling on insurance product up take, effect of personal selling on insurance negotiation process, effects of face-to-face mode of selling on the quality of business procured and the effects of personal selling on sales process Sanlam Life Insurance Limited, Nakuru Kenya. The hierarchy of effects theory, right set of situation theory, and AIDAS Theory was used to guide the research. The study used a descriptive research design and targeted 450 Sanlam Insurance Company clients. A sample size of 10% of the target population (450) was used in the study, resulting in a total of 45 consumers. As a result, the study's sample size was 45 people. A census sample technique was used in the investigation. Questionnaires were used to collect primary data. The data was analyzed, and displayed in tables. From the findings, it was determined that no personal selling methods are in use. In addition, the salesperson meets the consumer requirement outlined in the script to a large extent. Instead of selling things separately or insignificantly, the company sells them as a package. furthermore, salespeople only loosely link product or service qualities to consumer benefits. Finally, salespeople should concentrate on recognizing and serving their customers' needs and desires to the greatest extent possible. The researcher went on to say that the firm is particularly good at negotiating high ambition sites. In addition, the company determines its competitors BTNA less efficiently. Sanlam effectively distributes information regarding priorities and preferences through negotiations. Negotiations at the company aids in the creation of very effective package deals. Finally, competitive negotiations are employed when negotiators require immediate outcomes. It was determined that the company uses defaces for face-to-face selling. Face-to-face selling is a successful method to employ. The effectiveness of face-to-face selling is also very strong. The salesperson was able to persuade the consumer by using an additional face-to-face technique of selling. According to the findings, personal selling has an impact on sales. The firm's financial performance has not improved as a result of personal selling. Furthermore, personal selling has not resulted in an increase in the firm's sales volume. Personal selling with a higher profit margin is a good idea. Finally, personal selling has resulted in speedier product and service movement. The study advised all insurance companies in Kenya to implement several personal selling tactics in order for them to increase and diversify their portfolios, avoid losses, and reduce costs, so increasing their competitiveness. Based on the findings, the researcher recommended that all insurance firms in Kenya implement various personal selling tactics to enable them to develop and diversify their portfolios, avoid losses, and reduce costs, so increasing their competitiveness. Furthermore, the study suggested that systems selling tactics be implemented to improve operational efficiency and the decision-making process in order to improve performance. They should engage in compromise agreements on mutually sufficient solutions, reason, and justice, which will lead to successful product sales. Also, in order to persuade customers, insurance companies should adopt and invest more in face-to-face selling. According to the survey, firms should work on increasing salesperson awareness in order to increase personal selling of insurance products. Future research should be conducted to determine the effects of technology on personal selling, according to the researchers. The researcher also suggests that such a study be carried out in other areas and businesses.