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Are the private insurance companies on the right track, dont u think they are making a backward movement ?

Created by : B.Kiran kumar, Insurance Trainer, Bima Institute of Insurance  | 09 20 2010 06:58:10 +0000
Keywords : are the private insurance companies on the right track dont u think they are making a backward movement ?
Activity:  116 views;  last activity : 09 21 2010 08:57:37 +0000
 
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Is it right to shut down branches in the name of cost cut Vs If it does can they regain their position later.
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The current situation in the private insurance industry is that companies are closing branches with least productivity and cutting down the employees size and expenditures. As per the latest figures the insurance industry grew at 17%. Is it wise enough to shut down operations in areas where it is required to expand further to reach out to the unorganised sector or to the rural population. Particularly at this stage when the industry is growing you need to penentrate more and try to get good share in those areas where the Public sector insurance company is strong.If this is the case then when are these companies going to break even and record profits. It would be too late if they think that i will re-enter after breaking even.
By B.Kiran kumar, Insurance Trainer, Bima Institute of Insurance  | 09 20 2010 06:58:10 +0000
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No it is not a good move. This might bring down the repetition of the company....     
By Adrija , Assistant manager finance , HDFC Bank  | 09 21 2010 08:56:59 +0000
Argue for "Is it right to shut down branches in the name of cost cut"
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