Insurance Management

Sales Management in Insurance

Project thesis, 3.00 ECTS


Course content

It is especially in times of changing market environments and new communication channels that active sales management is key to business success in insurance. This course deals with the major components of operational and strategic sales management in insurance. Functions of sales management are discussed in detail, as well as relevant legal/regulatory aspects.

The core contents of this course include:
[1] Sales policy and organisation; multi-channel mix;
[2] Planning of sales processes;
[3] Strategic vs. operational sales controlling; reporting and benchmarking; indicators; actual and target analysis; control instruments;
[4] Incentive schemes in sales (e.g. target agreements, pay structure; commissions);
[5] Legal framework (e.g. customer protection, tax considerations, IMD II, VersVG);
[6] Application of the learning contents during a case study.
Optional contents can include:
[7] Potential challenges in sales management;
[8] Use of modern sales channels (internet, social media).

Learning outcomes

The students deal with modern business models in insurance sales and learn about the strengths and weaknesses of sales models. They are able to analyse which entrepreneurial decision bases are decisive for the choice of a sales model. In this course, students will gain knowledge of the strategic considerations on which insurance managers base their decisions in sales matters. Central competencies: Ability to analyse, presentation technique, decision-making skills, entrepreneurial ability to analyse customer and sales issues

Recommended or required reading and other learning resources / tools

References: Benölken et al (2005): Versicherungsvertrieb im Wandel: Schlüsselfaktor: Kundenbeziehungsmanagement, Gabler. Köhne/Lange (2009): Marketing und Vertrieb von Versicherungs- und Finanzprodukten für Privatkunden, VVW.
Academic journals: -

Mode of delivery

3 ECTS: Project (PT)

Prerequisites and co-requisites

Modules 4;10

Assessment methods and criteria

PT: assessment of active course participation, grading of project work