Sales and Leadership Wisdom from the Leaders,Mr. Arijit Basu, ex MD & CEO of SBI Life Insurance

I asked Mr. Arijit Basu, ex MD & CEO of SBI Life Insurance, How has selling evolved in banking and Financial Services over the last 2 decades ?
For me it is like a great evolution primarily on the banking side. So State Bank was and continues to be a giant, but in my first ten or fifteen years of service, all we needed to do was ensure that the customer was well looked after, after he came to the branch.
The products were also simple. It was primarily making a deposit or giving loans. But post-liberalization and with things becoming more complex in the banking sector and competition coming in, you needed to reach out to the customer.
Second, technology has played a role in the sense that earlier we would have to scratch our heads to find out who a good customer is, try to find out how we could reach out to him. Now, reaching out to a customer through technology is easy. We can do so many things: You can personalize offerings related to your core sales/products, or even the experience that a customer has with the financial services company can be totally transformative. For any service industry, the customer is at the core.

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