| Topic : How to Sell Insurance during recession? |
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Secure the future - Insurance
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Activity:
Question posted: 01 21 2009 12:50:27 +0000,
5 answers, 828 views, last activity
07 06 2010 20:18:08 +0000
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We live in the information age. People are becoming more aware of the importance of insurance in their life. But then there is a growing need to educate people to buy insurance and make them aware of the importance of insurance in their life.
Today, natural disasters on a large scale occur regularly and even terrorism is increasing day by day. There are Specialized software is used in science to accurately predict life expectancy and mortality of a person. But natural disasters are difficult to predict. With all this keeping in mind there is too much at stake and at risk, so this has highlighted to the world that insurance is a basic and fundamental need for the safety and security of the family. Only a larger insurance cover can guarantee a better future.
With all this keeping in mind the Insurance industry will be having its fair share and it will really start to take center stage in coming days as everybody wants a secure future....
The future of Insurance is great and in coming days its going to be big contributor to GDP. Reason: Heavy focus on infrastructure development, more inclination towards better life style be it shelter, food, education or entertainment or health. growing income so as expectation from each conserned all will lead us to a one of the biggest industry in india "INSURANCE"
If you see the static still 65 % to 75 % people dont have insurance in India. Even 30 % to 40 % people dont know about insurance or its benifit. Its seems that India have bright future for Insurance.
A general quote in this industry is " India is an underinsured country". may be based on market penetration and on life count.
In my view, of those got insured,, many,, may be like more than 90% are underinsured interms of sum assured.
In rural India, where i work, the usual coverage ranges only between 50000 and 2 laks. If we could explain HLV and the need for better coverage,, we can fetch more business. I am tasting success.
I feel very good future is there for this industry.
Future of insurance will definately be great because people are becoming more aware about safety as well as investment. Today insurance not only provides life cover but it also has the multiplier features. In todays scenario this is the only industry which is growing at the rate of 13% and still most of the people in India do not have Insurance.
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