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Started by : SHARATH CHANDAR REDDY, Business Development Manager - Insurance, I T C Ltd   10 05 2009 11:42:46 +0000
Industry : InsuranceFunctional Area : Business Processes(Operations)
Activity:  72 views;  last activity : 07 06 2010 20:18:09 +0000

Over the last one decade, Insurance industry has become very competitive. There are two big challenges for all the Insurers, (i) How to do successful selling, (ii) How to keep the customers happy. While addressing these challenges, the Insurers should find out solutions that are financially sustainable.

In this context, it is an accepted fact that the customer service needs lot of improvement. Please thrwo out your ideas on how to keep the customers happy... so happy that they would like to come back to the same insurer for purchasing another policy.

 
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1 Exclusive customer service centres manned by higly efficient & effective customer care executives
2 The agent should be honest about the Policy
3 False selling

Exclusive customer service centres manned by higly efficient & effective customer care executives

idea posted by SHARATH CHANDAR REDDY Business Development Manager - Insurance, I T C Ltd

It is a fact that almost all the Insurers are taking advantage of the technologies, providing online services, toll free numbers for the call centres, etc.

Many insurance customers don't really understand the Insurance technical terminology. Moreover, the promises on which the policy was sold to him might be completely far from the facts. When a customer walks into the office of the insurance company with the policy bond, it is common sight that they are waiting for somebody to attend them, and after they get their turn, either the executive doesn't have proper knowledge or doesn't have the attitude to help him or is busy doing the work of the new business!!!

A common man having invested hard earned money feels very suffocated and frustated. Hence, I feel the basic facility is that exclusive customer service centres, which is delinked from any new business activity be provided across the locations. These centres to be manned by well trained executives. The moment customer walks into the service centre, he should be immediately attended to, he should be heard, and then necessary actions to be taken by the concerned executive.

To summarise, an exlusive place for customer service, a well trained manpower, a personal hearing to the customer, and the attitude to empathise and help the customer is necessary to take advantage of the huge investments in technology by insurers.

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The agent should be honest about the Policy

idea posted by Niranjan Meena Actuary Manager, LIC

Honesty is the best policy. A insurer should always be honest with all the Pros and Corns of his policy to the customer. A normal public is not so good in understanding Insurance. Its the duty of the agent to explain him each and every detail of the policy and not to keep any secrets. If any of the promises he made comes as false, he will lose the faith of the customer. On the other hand, if his promises really help the consumer, not only the consumer will be happy with him but also he can become a medium for the insurer to get furthur links, networks or contacts.

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False selling

idea posted by santosh kumar Marketing Manager, AUTOMOBILE

One of the major fears of any customer opting for life insurance is " FALSE SELLING". Many times the hidden clauses are not forthrightly expressed, the sales executives are not clear about the policy & its work out. Also many companies have resorted to explaining the policy on phone (* which is ridiculous).

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