What is the full form of TOT in Insurance?
The TOT full form in insurance is Top of the Table. This is a reputed and respectable financial services certification in insurance that is seen as an example of financial success, innovation, leadership, and ethics in insurance. It is based on certain criteria such as number of policies written, premiums sold, total value of the products sold, etc.
Significance of TOT in insurance:
TOT stands for financial services excellence. TOT rank requires exceptional performance, client success, and integrity. TOT members join a global community that recognizes their accomplishments while also encouraging learning, collaboration, and industry standards. TOT represents the best of financial services in a world that values quality.
Criteria to achieve TOT status:
The insurance company has to fulfill certain criteria to be qualified as a TOT insurance company. They should have achieved a high volume of premiums that are to be sold within a specific period. The company should acquire a significant number of new insurance policies. They should maintain a very high rate of persistence, which is an indication that clients are continuing their policies in the company without lapsing. The sales performance of the company should be higher compared with other companies in the field.