| Topic : challenges in insurance sector |
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Secure the future - Insurance
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Activity:
Question posted: 05 04 2009 16:07:47 +0000,
7 answers, 389 views, last activity
07 06 2010 20:18:08 +0000
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Insurance industry is affected because of mis selling of insurance products and customers are duped without having full knowledge on insurance product they buy and they blame the Company due to this. Insurance products are to be sold on the basis of clients needs and not on self interest.
Dear Danaseker,
I knew one thing when one is into business " Everything is fair in Present corporate situation" where competition is increasing day by day
but on the other hand when before sleep we sit and evaluate ourself for only 5-10 min. these type of things will come to our mind that what we have to sell and what we are selling that is the time when one sales person realise that he/she is doing wrong things..........
but from next day again he/she use the same trick.............
so, one can't say that misselling of products are right or wrong
Miss-selling is obvious wrong but only for those cases where investor/client wanna to understand the products according to their need. Because almost 90% clients are not interested to understand the plans according to their need. They are interested to make factless comparison with any other plan of other co. In short Selling means selling but customer is not seller he/she should be aware before final buying any products according to their need.............
mis-selling can never be appreciated at any circumstances and in any condition. actually mis-selling starts when we started clubbing INSURANCE with INVESTMENT. Although I strongly believe that the concept of insurance selling is quite different from concept of investment. ethical selling seems rarely today.
wrong because of there were must need custmer what need its depend so i think its not mis selling
Danasekar Now a days customer are more aware about all aspects of product, before doing investment they are doing market survey, collecting all the information for the same, I don’t think that any one can miss sale the product, if u don’t have sound knowledge of the product then u r product will not sale its my own experience at the time of investment.
Its wrong dear, Mis selling is niether helps consultant nor company or client, its ultimately industry who suffers in competition to MF etc
Yes i too agree with you Danasekar, that most of the peoplel in the insurance industry do such things...as they will not completely explain the products that the customer is going for..and this will lead to misunderstanding and they start blaming them......this Misselling of Insurance products is a having a serious consequence and this should be sort out immediately, with this there will be no more confusion.....
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