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challenges in insurance sector
Tags :
car insurance, insurance, life insurance, medical insurance, health insurance, auto insurance, travel insurance, home insurance, insurance quotes,
Industry :
Insurance
Functional Area : product development, india |
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About "challenges in insurance sector" topic:
Discuss Issues and Challenges of Insurance industry in India
2 insight
, 8 debates
, 5 idea contests
, 5 question
on topic: "challenges in insurance sector"
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Nowadays, While the insurance sector is seeking to maintain a balance between acquiring customers and developing existing ones, customer acquisition is vital, as no retention strategy will entirely s...
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Sharath Kotian
| Answered
| 2 years ago
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I think it is most important to retain all customers who have once bought our product. For this what we require most is to stop sending 'boys' to do the 'man's ' job. There still many Insurance companies who have not yet realized the importance...
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anurag vyas
| Answered
| 2 years ago
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Yes it is very much benefecial to build customer relationship also it is very essential to pay attention to after sales service so that the customers remain loyal to renew their faith in the insurance sector. For that we should lay emphasis on...
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Maria Colaco
| Answered
| 2 years ago
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You spend 7 times to woo a new customer than retain the existing customer. There are various suggestions offered by Industry leaders . I am just listing a few strategies :- Companies need to think in terms of spending smarter, not spending less....
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Answer: "Can Insurance sector drive Indian CRM market ?" deleted from your view.
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As the inflation in the past few years has been growing with a rapid rate it has become a major concern for people. Insurance could not be differentiated from inflation as the calculation of the total return due on insurance company and underwriting profit margins are dependent Consider an example Suppose there is a contract to insure $1 against inflation that is equivalent to a call option on the consumer price index. When there is no deductible this call option is equivalent to a forward contract on the CPI. Its price is the difference between the prices of a zero coupon real bond and a zero coupon nominal bond, both free of default risk. Provided that the risk-free real rate of inter...
Insight: "Inflation And Insurance" deleted from your view.
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ICICI Prudential has tied-up with Indian Post to push their insurance products in the markets. There are customize products for targeted audiences. ICICI has an launched an innovative marketing strategy to promote their products in the market. Most of the people rely on Post Office service. Post office provide people microfinance facilities with which they can sell the ICICI Prudential Insurance Products.
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suchita Ambardekar
| Commented
| 2 years ago
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If anything......the post office working style will change...if that happens...then yes...the work cuture in Inida has changed for good...........
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Mohammadarif.A.Shaikh
| Commented
| 2 years ago
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ICICI is not the first to do this with postofice the LIC also done it but it does not work because of the lase work of LIC officers and marketing people. ICICI will do more to sell there product and this idea will work for him.
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Insight: "ICICI Prudential ties-up with Indian Post to lead Insurance products" deleted from your view.
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M&A will happen for our overall benefit
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10
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M&A is not going to happen
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Debajyoti Roy
| Argues in support of
"M&A will happen for our overall benefit"
| 2 years ago
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After almost 10 years of operation by Top 7 private Life Insurance companies,except of one company-none have registered any profit so far. Controlling expense ratio for the companies has become a major task in hand.Competition is heating up.Under...
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venkat
| Argues in support of
"M&A will happen for our overall benefit"
| 2 years ago
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Ya it increases the core competency of major players and uplifs the small player with Jv increases the space of busniess and fills the gaps in the market.
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Debate: "Are we going to experience M&A" deleted from your view.
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sir, insurance k liye sourcing ka sahi tarika kiya hona chaiye ? kis taraha sourcing ki jani chaiye ? kiya aap mujhey in sawalo ka jawab satik dey saktey hai .
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saurabh batham
| Answered
| 2 years ago
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according to me mr. deepak these steps can be beneficial.. 1-fixing appointment. 2-understand the need of the custome 3-show him the plan accordingly, tell him about financial planning as why life health plans are base for financial planning of...
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Vipin Bhasin
| Answered
| 2 years ago
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You are giving your own answer that if a investor has not much amount for big investment plan then how can he/she go for that. You are talking about 2nd &3rd level investor then keep in mind that ULIPs are not better products for those who have...
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Answer: "what is right step for insurance sorcing ?" deleted from your view.
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With IRDA and SEBI against each other on the sale of ULIP products, what does the future hold for customers who have invested in ULIPS?
Answer: "With IRDA and SEBI against each other on the sale of ULIP products, what does the future hold for customers who have..." deleted from your view.
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people don,t want to wait 10 to 15 years for their returns.
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insurance is need of every person.
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deepak bhardwaj
| Argues in support of
"people don,t want to wait 10 to 15 years for their returns."
| 1 year ago
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many of peoples thinks neither they need nor they want to trust on insurance companies.
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Debate: "What is the future of INSURANCE SECTOR??" deleted from your view.
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Yes
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No
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raj sharma
| Argues in support of
"No"
| 1 year ago
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yes because in order to protect the intrest of policyholder,ombudsman plays a great role in solving disputes of personal lob's.and it helps in fast settlement of claims.
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Danish khan
| Argues in support of
"Yes"
| 1 year ago
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Ombudsman can play an important role in solving the disputes regarding claims in commercial lines of business.Courts in India are not time efficient so ombudsman provides a simple and time efficient way to solve disputes. In commercial lines of...
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Debate: "Can Ombudsman solve disputes among commercial line Insurance firms and Insurers?" deleted from your view.
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Answer: "is there any reason for pressurising on insurance sector specially private sector" deleted from your view.
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1
Create more certainity in the Environment
2
Lack of reach and low commission
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Nikhil
| Supported idea
"Lack of Education & Awareness among people regarding Gen Insurance"
| 2 years ago
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General Insurance covers following 1) Motor 2) Property 3) Miscellaneous 4) Marine 5) Fire 6) Liability 7) Ommissions etc There are various othere insurances also which I cannto cover here but these are justa few which we need to educate the...
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Nikhil
| Supported idea
"Life Insurance Products are heavy on the GIC products"
| 2 years ago
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Pl first understand what is general insurance and life insurance , they are two different feild and cannot be compared with each other
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Alok Routray
| Supported idea
"Create more certainity in the Environment"
| 2 years ago
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Dear Mathew Its a great peace of infomation for me. I appreciate your efforts in taking toostep to the new heights of discussion.
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Ideate: "India ranks very low in General insurance business - How to improve it?" deleted from your view.
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Random Pick... Why me? Arthur Ashe , the legendary Wimbledon player was dying of AIDS which he got due to the infected blood he had received during a heart surgery in 1983. From world over, he received letters from his fans, one of which conveyed: "Why does GOD have to select you for such a bad disease"? To this Arthur Ashe replied: "The world over - 50 million children start playing tennis, 5 million learn to play tennis, 500,000 learn professional tennis, 50,000 come to the circuit, 5000 reach the grand slam, 50 reach Wimbledon, 4 to semi final, 2 to the finals... When I was holding a cup I never asked God 'Why me?'. And today in pain I should not be asking God 'Why me?' " Happiness keeps you Sweet Trials keep you Strong Sorrow keeps you Human Failure keeps you humble and Success keeps you glowing But only Faith Attitude Keeps you going... “ Mistakes are painful when they happen. But years later, a collection of mistakes called experience leads us to the success...”
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Father I want you to marry a girl of my choice Son I will chose my own bride Father But the girl is Bill Gate’s daughter Son Well, in that case, it is Okay Next day Father approaches Bill Gates Father I have a husband for your daughter Bill Gates But my daughter is too young to marry Father But this young man is a Vice President of World bank Bill Gates Oh.. in that case, it is Okay Father finally goes to meet the President of World Bank Father I have a young man to be recommended as Vice President President But I already have more vice presidents than I need Father But this young man is Bill Gates son-in-law President Ah, in that case, it is Okay This is how business is done. Even if you have nothing, you can get anything. But your attitude and approach should be positive.
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