Insurance: a strategy to convince clients to protect themselves

Italy, as we know, is still far from meeting European standards when it comes to insurance coverage. Just to give you an idea: the share of premiums (excluding the auto sector) relative to GDP is only 1%, compared to the European average of 2.4%. And the average premium per person is just over a third of that in the countries examined by ANIA, the National Association of Insurance Companies.

The problem is clear: cultural resistance, low financial literacy, and the often impenetrable language of formal documents make it hard for advisors to communicate the true value of these essential products to their clients.

The good news? There’s a solution. At Wealthype, we’ve developed two tools, Plan ai and Talk ai, designed to streamline and simplify the sales process by making it quicker and easier to understand the key features of protection products.

Today, we’ll walk you through how these two applications fit into the sales process—step by step, using a real-world example.

A Practical Example: Marta’s Profile

Meet Marta. She’s 39 years old, lives in Rome, and works as an engineer. Her assets amount to just over €40,000.

The first step in profiling her—and more importantly, understanding whether her current portfolio truly meets her needs—is to log into Plan ai.

Step 1: Analyze Marta’s Profile with Plan ai

• Gather the Data
  Input Marta’s personal and financial details into Plan ai (e.g., age, profession, income, assets, goals).
• Calculate the Financial Wellness Index (FWI)
  Based on the data, the algorithm assigns Marta a score. It’s not great—just 18. This low score indicates that Marta’s portfolio doesn’t adequately meet her actual needs.
• Identify Marta’s Goals
  The data shows Marta has a family and is the primary breadwinner. Her need for protection becomes clear: for herself (health), her loved ones (term life insurance), and her home.
• Get a Summary of Her Profile
  The analysis reveals that the products Marta has purchased in the past don’t align well with her priorities. Her investment portfolio is off-target, and it’s missing crucial protection components.

How do you explain this to Marta?

Step 2: Prepare to Communicate with Marta Using Talk ai

After assessing Marta’s current situation, it’s time to set up an initial meeting. How can you prepare yourself—and Marta—for this discussion?

Start with Marta.
Send her an email with effective, visually appealing materials. These Conversation Starters summarize key information in a simple, engaging way. Whether it’s about health, long-term care, term life insurance, or general insurance topics, these short, easy-to-read pages outline the fundamental characteristics of protection products and their benefits.

And for yourself?
Download more detailed brochures about Marta’s protection needs to get a clearer picture of the products that could improve her financial wellness. To address Marta’s potential objections, brush up on the common biases people have about protection products. Share these insights with Marta, too, if needed.

All these resources, designed to support your sales conversation, are conveniently available in Talk ai, Wealthype’s “content as a service” platform.

But that’s not all.
To fully prepare for your meeting with Marta, you’ll also need the technical and analytical support provided by Plan ai.

Step 3: Refining the Strategy with Plan ai

• Share Scenario Simulations with Marta
  Wealthype’s software lets you simulate concrete scenarios for Marta’s assets. These scenarios demonstrate how the lack of protection products in her portfolio could negatively impact her financial future.
• Optimize Marta’s Portfolio Together
  Using the input data, FWI score, and simulations, the algorithm suggests the most suitable protection products to enhance Marta’s financial situation.

The Engagement Report with Plan ai

Where can Marta view her data, analyses, simulations, and strategies to improve her financial wellness score?
In the consultation report, which the advisor can generate to arrive at the meeting fully prepared.

This report not only supports the sales discussion but also provides Marta with a clear and comprehensive overview of her situation.

How to Create the Report

With Plan ai, generating the report is as easy as pressing a button. It compiles:

• Financial data and analyses;
• Personalized simulations;
• Strategies to improve the client’s financial wellness.

The result? A PDF report that’s easy to view on-screen or print, containing all the key insights from your analysis of Marta’s profile—clearly structured and easy to understand.

Conclusion

Thanks to Plan ai and Talk ai, selling and explaining protection products becomes simpler, more effective, and truly focused on the client’s real needs.

Are you interested to try this product? Write to us at info@wealthype.it to discover how to integrate artificial intelligence into your financial advisory process.