Loading...

Supporting a Strategic Shift at a Multinational Insurance Company

The Company
A Fortune 100 insurance company with over 60,000 employees, $60 billion in annual revenues, and operations throughout the world.

The Challenge
To stay competitive in a rapidly evolving market, the company made significant changes in its distribution strategy with far reaching implications for the sales organization.  In order to create a single point of contact for customers and brokers, sales representatives in all markets were now being required to sell the company’s entire portfolio of products.  This was a major shift for sales reps who had previously sold only a few core products and relied upon a wide network of specialists to sell other product categories.

For many sales reps accustomed to a transactional sales cycle, this constituted a measurable shift in role which required them to expand in ways beyond developing new product knowledge.  Essentially, sales reps were required to evolve from taking orders to becoming trusted advisors.  But, many in the sales force lacked the skills necessary to make this transition – namely, the ability to surface client interests and negotiate complex and creative solutions across product lines.

Vantage’s Solution
Vantage developed a customized training program to help sales reps build skills in problem-solving, negotiation, and conducting powerful sales conversations with brokers and customers.  In addition to rolling out the training across the sales organization, managers were brought through a program to equip them to reinforce these skills and effectively coach direct reports in ways that both achieved better client deals and built the skills of the sales reps, helping to make this approach to negotiation a core capability throughout the entire sales organization.

The Result
This combination of classroom training and manager coaching, provides sales reps with the skills and support necessary to thrive in their new roles.  Reps are better able to understand underlying client interests, build trusted relationships with key counterparts, and negotiate more skillfully with outside parties and with key internal counterparts within the organization.

Random Image

Related Services