Laura Xue-Fen Hoi finds prospects are often searching online for the cheapest products

In Singapore, you can buy simple products online, like term and permanent life insurance. A year ago, I had a client ask for a quote on critical illness insurance. She said, “I went online and this is what I saw.” She’d ask me questions every few months. She was looking online to purchase it on her own, but she was having difficulties. Clients want options, but then realize they can’t figure it out themselves. Most also do not have the time. It’s been more than a year, and my client still has not made any decision yet.

How do you counteract this?

I’d like to be one of their online sources, so I sometimes push online content to them from other websites that have interesting articles. This way, they also look to me as a source. I also post on social media and try to relate it to them, so they call to ask for more information. They want instant information, and I want to be one source of this.

What do you do to create insurance awareness?

I talk to clients and prospects when there are changes in laws and regulations. I use these changes as a reason to talk to companies and hold seminars. I did a seminar recently on estate planning, which was very popular even though we do not have estate duty in Singapore. I got 17 new prospects from one estate-planning seminar. I also take advantage of opportunities to speak to groups of employees of companies who have purchased group insurance with me.

How do you allocate your time and productivity?

I recently came together with some colleagues and created a group chat on WhatsApp where we share our numbers on a daily basis. For example, if I have made a goal to see two clients and make three future appointments each day, I report this in the group chat. I put, “2 successful appointments done, 3 future appointments made.” When you report to your peers, there’s accountability. We celebrate if everyone meets their target. It takes effort, but it has helped in keeping all of us accountable to one another.

Laura Xue-Fen Hoi, ChFC, AEPP, is a 15-year MDRT member from Singapore. Contact her at laurahoi.office@gmail.com.