Every insurance company’s success depends on how aggressive and productive their sales force is in their quest for greater market share and profits.
Insurance sales is a very demanding profession that requires individuals to meet targets while maintaining a high sense of integrity and a great level of professionalism. Salespeople often face a significant dilemma: the pressure to meet and exceed sales targets versus the need to uphold ethical and professional standards.
Insurance sales is a demanding profession that requires individuals to meet targets while maintaining a high sense of integrity and a great level of professionalism.
The sales force often faces a significant dilemma: the pressure to meet and exceed sales targets versus the need to uphold ethical and professional standards.
Operating within a fiercely competitive environment, Ghanaian insurance firms strive to gain greater market share and revenue through aggressive expansion strategies.
To achieve these objectives, sales employees are usually allocated challenging sales targets. These performance metrics are not only a measure of individual success but also a reflection of the company’s overall market standing.
This fosters a stressful work atmosphere where sales staff are under perpetual observation. These objectives are often used as sales performance metrics that determine bonuses, promotions, and advancement eligibility.
Meeting or exceeding these goals is the primary focus for achieving higher ranks. While this may improve results and motivate top performers, it also induces a tremendous amount of stress.
Sales teams tend to choose quantity over quality in their performance, which occasionally leads them to practice methods that violate professional guidelines and harm client trust.
As a sales agent, one must work for the client’s benefit by providing truthful policy options together with accurate details and offering professional recommendations to suit the client’s needs.
Sales personnel face strong temptations to close deals instead of offering genuine service delivery as deadlines and performance goals approach.
A genuine professional dilemma emerges when agents must meet challenging targets while remaining faithful to the principles that underpin the insurance profession.
Crossing ethical boundaries leads to multiple unwanted consequences, including diminished standards and dissatisfied clients, reputational harm, policy terminations, and regulatory punishment.
A new approach is needed to generate long-term worth in the insurance industry, which includes setting aside short-term results and focusing on quality. The sales teams within companies must receive training on ethical conduct while setting their targets realistically.
Trust-based relationships between clients and insurance sales agents foster steady and gradual client expansion patterns rather than rapid, exponential growth.
A truly sustainable business model in insurance requires companies to shift their perspective toward seeking enduring value instead of momentary achievements.
The success of sales teams depends on ethical training as well as realistic targets, coupled with performance indicators oriented toward professionalism and supported by the company.
Recognition should embrace agents who establish trust, educate customers, and maintain loyalty, even if their growth occurs more gradually than explosively.
Additionally, the insurance salesperson needs to establish a lifelong dedication to learning, supporting continuous personal and professional advancement.
Staying informed about products, regulatory changes, and client requirements becomes crucial for success in our evolving Ghanaian insurance market. Sales professionals must place their clients’ needs at the core of their activities, alongside a foundation built on integrity, transparent communication, and service delivery.
When salespeople practice ethics in their interactions with clients, they achieve superior retention rates and receive more referrals, along with an improved reputation throughout the industry.
Country Director-Association of Young Insurance Professionals (Yips Ghana), PRO Chartered Insurance Institute of Ghana.
