Make the product complicated so that a salesman is required.This is an opportunity for the salesman to turn conman. This achieves the objective. The idea of a middleman is to help the consumers understand and to make informed decision but unfortunately the company exploits it to turn the table to cheat the consumers. In the supermarket you don't have a salesman following you around to 'persuade' your to buy. You see, read, touch, smell and know the price and take your time to decide the buy. You can walk away if you think the product you can't afford or overpriced or not suitable. With insurance products created so complicated you can't buy but have to be SOLD.To be SOLD is the idea. Anyway, MAS will want the product manufacturers to set up a supermarket 'portal' for the savvy customers to buy without the hassle and the charges and commission. Of course there will be non savvy customers who try to save cost by DIY..This will prove costlier in the end because they screw them themselves up.No one to blame except themselves. The customers must also be honest with himself or herself whether an ADVISER is needed or not. There will be danger also because it is hard to distinguish an adviser from an insurance salesman.If they get an insurance salesman it will like jumping from the frying pan into the fire.
Make the product complicated so that a salesman is required.This is an opportunity for the salesman to turn conman. This achieves the objective.
ReplyDeleteThe idea of a middleman is to help the consumers understand and to make informed decision but unfortunately the company exploits it to turn the table to cheat the consumers.
In the supermarket you don't have a salesman following you around to 'persuade' your to buy. You see, read, touch, smell and know the price and take your time to decide the buy. You can walk away if you think the product you can't afford or overpriced or not suitable.
With insurance products created so complicated you can't buy but have to be SOLD.To be SOLD is the idea.
Anyway, MAS will want the product manufacturers to set up a supermarket 'portal' for the savvy customers to buy without the hassle and the charges and commission. Of course there will be non savvy customers who try to save cost by DIY..This will prove costlier in the end because they screw them themselves up.No one to blame except themselves. The customers must also be honest with himself or herself whether an ADVISER is needed or not. There will be danger also because it is hard to distinguish an adviser from an insurance salesman.If they get an insurance salesman it will like jumping from the frying pan into the fire.