Loma 291 Module 2

LOMA 291 MODULE 2
Omnichanneloodistributionoo-ooans--
✔✔Aooformooofoodistributionoothatooenablesoopersonalizedoosalesootooocustomersoothroug
hoomultiple,oointegratedoocommunicationoochannels.

Commonoowaysootoooengageoowithoocustomersoo-ooans--✔✔-ooFaceootoooFace
-ooPhone
-ooDirectooMailooorooEmail
-ooOnline
-ooPrintooandooBroadcastooMedia
-ooWorksiteooMarketing
-ooLocationooSelling

FaceootoooFaceoo-ooans--✔✔Financialooprofessionalsoocommonlyoomeetooface-to-
faceoowithoopotentialoocustomers,oooftenooreferredootoooasooprospects.ooFinancialooprofes
sionalsoofollowooaoofairlyootypicaloosalesooprocessooduringooaooseriesooofoomeetings.

Duringootheseooface-to-faceoomeetings,ootheoofinancialooprofessional:

Identifiesootheooprospect'soofinancialooneeds
Developsooaooproposaloothatoorecommendsoooneoooroomoreooinsuranceooproductsootooom
eetootheooidentifiedooneeds
Presentsootheooproposalootoootheooprospectooinoohopesooofoocompletingooaoosale
Ifootheoosaleooisoosuccessful,ooassistsootheoocustomerooinooapplyingooforootheooproduct,oos
ubmitsootheooapplicationootoootheooinsurer,ooand,ooinoosomeooinstances,oodeliversootheoop
olicyootoootheoocustomer

Prospectsoo-ooans--
✔✔Aoopotentialoocustomerooforooanooinsurer'sooproductsooorooservices.

Phoneoo-ooans--
✔✔Insurersooandoofinancialooprofessionalsoocanoouseootelephonesootoooshareooinformati
onoowithoocustomersooandooprospects.ooSometimes,ootheoocustomeroowillooinitiateootheooc
ontact...

DirectooMailooorooEmailoo-ooans--
✔✔Anooinsureroooroofinancialooprofessionaloousingoodirectoomailooorooemailoodistributesooi
nsuranceoosalesoomaterialsoothroughooaoomailooserviceoodirectlyootoooaoolistooofooprospect
iveoocustomers.ooTheseoomailingsoocanoobeoophysicalooletters,oobrochures,ooorooflyersoom
ailedootoootheooprospectooorooemailsoosentootoooaoodistributionoolist.ooTheootargetoomarketo

,oforoodirectoomailoomightoobeooreadersooofooaooparticularoopublicationooorooholdersooofooaoo
particularoocreditoocard.

Foroopaperoomail,ootheoosalesoomaterialsoousuallyooconsistooofooanoointroductionooletter,oo
aoobrochureoothatoodescribesooaooparticularooproduct,ooanooinsuranceooorooannuityooappli
cation,ooorooanooinquiryooformootheoocustomeroocanoouseootooorequestoofurtherooinformatio
nooaboutootheooproduct.ooForooemail,ootheooinsurerooprovidesoolinksootooosimilarooitemsooo
nootheooinsurer'soowebsite.

Onlineoo-ooans--✔✔Mostooinsurers'oowebsitesooprovideooinformationooandooself-
serviceoooptionsooandoopromoteooproductsoothatoocanoosatisfyooneeds.ooInsurersooalsoooa
dvertiseootheirooproductsoothroughoothird-
partyoowebsitesooandoosocialoomedia.ooConsumersoousingootheseoowebsitesoomayooconta
ctootheoocompanyoobyootelephone,ooemail,ooorooweboochatootoooaskooquestionsoooroopurch
aseooaooproduct.ooOften,ooinsurersooputootheseooconsumersooinoocontactoowithooaoofinanci
alooprofessional.
Financialooprofessionalsoomayooalsooouseoowebsitesooandoosocialoomediaootoooengageoo
withoocustomersoodirectly.

PrintooandooBroadcastooMediaoo-ooans--
✔✔Anooinsureroooroofinancialooprofessionaloomayoouseooprintedoopublications,oosuchooaso
omagazinesoooroonewspapers,ootooodescribeooaooparticularooproductooandoogenerateooint
erestooinoothatooproduct.ooInsurersoocanootryootoooreachooaooparticularootargetoomarketooby
ooprintingooadvertisementsooinoonewspapersooinoocertainoogeographicalooareasooorooinoom
agazinesoothatooappealootooocertainoodemographics.ooForooexample,ooanooadvertisement
ooforooanooannuityooproductoodesignedooforoopeopleooageoo62ooorooolderoomightooappearoo
inooaoomagazineooforooretiredoopeople.
Anooinsureroocanoouseooradio,ootelevision,oooroovideooostreamingoositesootooodisseminateo
oanooadvertisingoomessageoooverooaoowideooareaootoooaoolarge,oogenerallyooundifferentiat
edooaudience.ooHowever,ooselectingoocertainooprogramsooorootimesooofootheoodayooinoowh
ichootoooadvertiseoodoesooallowooanooinsureroosomeooselectivity.ooForooexample,ooaoolifeoo
insuranceooproductoomightoobeooadvertisedooonootelevisionoobetweenootheoohoursooofoo8o
oandoo10oop.m.oowhenoonewlyoomarriedoocouplesooorooyoungooparentsooareoolikelyoowatc
hingootelevision.

WorksiteooMarketingoo-ooans--
✔✔Financialooprofessionalsoosometimesooengageooinooworksiteoomarketingootooodistribut
eoovoluntaryoobenefits.ooUsually,ootheooemployeroocollaboratesoowithootheoofinancialooprof
essionalootooopromoteoovoluntaryoobenefitsootoooemployees.

Examplesooofoovoluntaryoobenefits
include:

Lifeooinsurance
Disabilityooinsurance
Accidentooinsurance

,Criticalooillnessooinsurance
Long-termoocareooinsurance
IDootheftooprotection
Legalooservices
Financialoocounseling

WorksiteooMarketingoodefinitionoo-ooans--
✔✔Aoomethodooforoodistributingoovoluntaryoobenefitsootooopeopleooatootheirooplaceooofoow
ork.

VoluntaryooBenefitsoo-ooans--
✔✔Individualoooroogroupooinsuranceoooroootheroofinancialooproductsooofferedoothroughooa
nooemployer,oobutoopaidooforoobyootheoocoveredooemployee,oousuallyoothroughoopayrollood
eduction.

Locationoosellingoo-ooans--
✔✔Someooinsuranceoocompaniesooalsooosellooinsuranceooproductsoothroughooaoomethod
ooknownooasoolocation-
selling.ooTheseoolocationsoocanoobeoostaffedoobyooaoofinancialooprofessionalooorooofferoos
elf-serviceoooptionsooforoocustomers.
Location-
sellingoosystemsoomayoobeoolocatedooinoobusinessesoosuchooasoodepartmentoostores,oobi
gooboxoostores,oogroceryoostores,ooandoofuneraloohomes.

Locationoosellingoosystemoo-ooans--
✔✔Aoomethodooforoodistributingooinsuranceooproductsoothatooisoodesignedootooogenerateo
ocustomer-
initiatedoosalesooatooanooofficeooorooinformationookioskooinooaoostore,ooshoppingoomall,ooor
oootheroonon-insuranceoobusinessooestablishment.


Whichooofootheoofollowingooenablesoopersonalizedoosalesootooocustomersoothroughoomulti
ple,oointegratedoocommunicationoochannels?

a.ooOmnichanneloodistribution
b.ooWorksiteoomarketing
c.ooLocation-sellingoo-ooans--✔✔A.oo-
ooOmnichanneloodistributionooisootheootermoogenerallyoousedooforoodistributionoothatooena
blesoopersonalizedoosalesootooocustomersoothroughoomultiple,oointegratedoocommunicatio
noochannels.

Whichooofootheoofollowingooareooexamplesooofooproductsoothatoocanoobeooofferedooasoovol
untaryoobenefits?ooChooseooalloothatooapply.
Lifeooinsurance
Disabilityooincomeooinsurance
Accidentooinsurance
Criticalooillnessooinsurance

, Long-termoocareooinsuranceoo-ooans--✔✔Allooofoothem-
ooAllooofootheooaboveoobenefitsooareooexamplesooofoovoluntaryoobenefits.ooSomeoofinancia
looprofessionalsooengageooinooworksiteoomarketingootooodistributeootheseoobenefits.
Submit

Theoofirstoostepooinooaooseriesooofooface-to-
faceoomeetingsoowithooaooprospectooisooforootheoofinancialooprofessionalootooopresentoothe
ooproposalooinoohopesooofoocompletingootheoosale.
a.ooTrue
b.ooFalseoo-ooans--✔✔B.oo-ooOneooofootheoofirstoostepsooinooengagingooface-to-
faceoowithooaooprospectooisooforootheoofinancialooprofessionalootoooidentifyootheooprospect'
soofinancialooneeds.ooAoocompetentooandooethicaloofinancialooprofessionaloonormallyoowo
uldoonotoopresentooaooproposaloowithoutoofirstoounderstandingootheooprospect'sooneeds.

distributionoosystemsoo-ooans--
✔✔Theoomethodooanooinsuranceoocompanyoousesootoooconnectooitsooproductsooorooservi
cesoowithootheoopotentialoocustomersoowhooomightoowantooorooneedoothem.

Directoodistributionoosystemoo-ooans--
✔✔Aoodistributionoosystemooinoowhichootheooinsuranceoocompanyooownsootheoodistributio
noosystemooandoocommunicatesoodirectlyoowithootheoocustomer.

Intermediaryoodistributionoosystemoo-ooans--
✔✔Aoosystemooinoowhichootheooinsuranceoocompanyooreliesooonooexternalooindividualsoo
andooorganizationsootoooconnectoowithootheoocustomer.

directoosalesooforceoo-ooans--
✔✔Financialooprofessionalsoodirectedoobyooanooinsureroowhooodistributeootheooinsurer'soo
products.

agentoo-ooans--
✔✔Aoocompanyooemployeeooorooindependentoocontractoroowhoooisooauthorizedootoooacto
oonoobehalfooofooanooinsuranceoocompanyooinoosellingooinsuranceooproducts.


agencyoocontractoo-ooans--
✔✔Aoowrittenooagreementoothatoooutlinesootheooagent'sooroleooandooresponsibilitiesooand
ootheooagent'soocompensation.


Careerooagentoo-ooans--✔✔Anooagentoowhoooisoounderooaoofull-
timeoocontractoowithooanooinsurerootooosellooprimarilyoothatooinsuranceoocompany'soolife,oo
health,ooandooannuityooproducts.ooAlsoooknownooasooaoocaptiveooagent.

Multiple-lineooexclusiveooagentsoo(MLEAs)oo-ooans--
✔✔Anooagentoowhooosellsoolifeooinsurance,oohealthooinsurance,ooannuities,ooandooproper
ty-