Cocoplans kicks off product integration
Cocoplans took the initiative of integrating its product with those of the UCPB Gen and Cocolife, making the company a supermarket of financial product, Sept. 9, 2009.
As one of the projects discussed in the mid-year review, Cocoplans started preparing things for the operation of cross-selling UCPB Gen and Cocolife’s products in the market.
In a letter to the business associates, President Caesar T. Michelena said that Cocoplans have been pushing the integration for the three companies to be able to create a financial one-stop shop of Cocolife, Cocoplans and UCPB Gen products. Since the Management saw that there may have difficulty in integrating in terms of operations and information technology, Cocoplans decided to integrate its products instead.
“We took the initiative of integrating the products of the three companies. This way, you have a supermarket of financial products at your disposal. Business Associates could offer different life or non-life insurance like fire, or motor vehicle coverage just in case your prospect doesn’t want a pension plan. You could start off with insurance and slowly ease your way to a more specific product for your prospect. Point is, the possibilities of using multiple products are endless,” President Caesar T. Michelena said in his letter to he business associates.
President Michelena also said that the approval of this project was also heaven-sent. There were new rules that the Securities and Exchange Commission has promulgated that made Cocoplans decide to temporarily suspend selling OptiMax Life Plan.
“If by any unforeseen and improbable circumstance, we are unable to secure new securities due to new rules, we could sell Cocolife and UCPB Gen products for the time being. We believe that by selling life and non-life insurance products you gain valuable experience in selling insurance. You also gain better appreciation of pre-need products and the generous commission Cocoplans is giving,” President Michelena added.
Moreover, Pres. Michelena gave emphasis that Cocoplans are doing this ONLY to eradicate the very small possibility of a non-approval for additional securities. Currently, Cocoplans business associates were given the chance to sell Cocoplans, Cocolife and UCPB Gen’s products all at the same time challenging every business associate to take advantage of it.
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