How one should pitch for disaster insurance ?

it is difficult to pitch general insurance for disaster because disaster is uncertain so people dont believe in these types of plans offered by insurance co.

But if you able to convince the people the importance of Disaster insurance then only sales can be done, for that you approach should be clear. First company should study area, regions, cities, states etc. which facing problem of Disaster frequently and company should start its branches only these cities to lead the business. Because the people who frequently face the problem can easily understand the importance of Disaster Insurance.

The question should also refer as to how the risk can be measured & assessed before the happening of peril. Because only those who participate the insurance are eligible for the benefit of insurance. But for the purpose of insurance the number of persons subscribing insurance should be large enough so that the cost of disaster insurance is brought down.

Then how its sales can be executed. To my mind group discussions & meeing at intitutional level with the business bodies would make sense. meetings with CII, AIMA, Chamber of commerce and many other bodies operating at local levels shall be helpful. Also the insurance companies can arrange the lectures at their own, and introduce the subject. After introduction, sale at institutional level shall start. It is only thereafter that individuals will take interest in disaster insurance. It can also be given as a rider along with the conventional plans.

They usually cover damages due to earthquakes, floods etc. Disaster insurance is often very costly and I am not quite sure about it’s future in India. I personally feel they should concentrate areas prone to natural disasters like Gujarat.

Is there a cover for terrorist attack ??

The basic difference between disaster insurance and property insurance is that disaster insurance is more specialized and covers your losses against immediate occurrences that have disrupted your business, while property insurance covers your property against any number of common property risks, including theft or damage from accident.

The key today, with so many options, is to first assess exactly what you need and then work with an insurance agent to figure out the best package: one that covers your most significant risks. It's not an either/or scenario that you want, but a combination of policies that provides protection without duplicating coverages.

The risk of flood/war/terrorism..what exactly you required is to be determinded and then one must go for the options available. It is the earnest request for such sort of coverages one has to seek guidance from qualified insurance professionals like us.

But sorry to say still in India this trend is in infant stage..even private players started functioning but not employed technically qualified insurance professionals!!

When choosing disaster insurance, you basically have two choices — a named perils policy or an all-risk policy. One has to check the coverages/premium rates and importantly deductibles.

PARIMAL MADLANI- FREE LANCER - INSURANCE CONSULTANT - F.I.I.I.