Customer strategies in insurance
Tags :
customers, customer value, consumer, customer value custoemr retention, customer service, customer relationship, customer sales, sales, insurance, information,
Industry :
Insurance
Functional Area : strategy execution |
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About "Customer strategies in insurance" topic:
In an era of intense competition, developing robust customer strategies is the only way for insurers to move beyond a destructive cycle of price-cutting. Discuss on Customer Strategies in Insurance which will bring together both consumers and insurers to examine evolving trends in customer attitudes and behaviour, and to answer the key questions of how to create real product differentiation, meet customers claims expectations and build lasting customer loyalty.proposition. Yet few customers even trust their insurer. How does the insurance companies need to respond? Discuss here.....
6 debates
, 8 idea contests
, 1 question
on topic: "Customer strategies in insurance"
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(rate this)
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1
Educate them on Insurance
2
Having Products that satisfies needs wants and demands
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Ramachandran Mahadevan
| Supported idea
"Educate them on Insurance "
| 2 years ago
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Continuous education-awareness, learning for literates and illeterates-- is a necessity
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Danaseker
| Added idea
"Government Support"
| 2 years ago
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After Andhra Pradesh, Tamil Nadu Government has entered into an agreement with Star Insurance to give Insurance for the poor people. Like this all the State follow this it will reach the poor population of India which constitutes the major...
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Ideate: "How to make Insurance relevant for masses??" deleted from your view.
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(rate this)
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1
Target online consumers
2
How to increase Insurance sales ?
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Rakesh Shastri
| Supported idea
"How to increase Insurance sales ?"
| 1 year ago
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Why didn't you paste the original link, from where you have copied other person's views pasted them with your name. http://ezinearticles.com/?3-Steps-to-Increase-Your-Insurance-Sales-Results id=776806
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K. Chandrakumar
| Supported idea
"Target online consumers"
| 1 year ago
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I think everything has to be made online, right from sending forms. It ensures a paperless office. Policy bonds should be delivered online
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Padmanabhan R
| Supported idea
"Target online consumers"
| 2 years ago
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Growth potential is huge in India. People should be made aware of the importance of insurance. Small premium products should target rural areas. Insurance companies should employ bancassurance or sale through panchayats or like government bodies...
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Ideate: "How to increase insurance sales ?" deleted from your view.
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(rate this)
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If you think that private companies are doing well
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32
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VS |
24
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If you think that private companies are doomed.
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SURENDRA TEWARI
| Argues in support of
"If you think that private companies are doing well "
| 6 months ago
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Hello all! Please have a look at IRDA website and you will find that most of the private companies have come out of red.
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lal kamleshwar singh
| Argues in support of
"If you think that private companies are doomed."
| 2 years ago
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why u guys are wasting time blaming each other, just go to the IRDA website and find yourself which is doing how much well.
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Jairam Gopalan Aiyer
| Argues in support of
"If you think that private companies are doomed."
| 2 years ago
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I Would not say Doomed; they will start losing Market Share to LIC Of India from this Financial Year;Calendar Year they have already started with a big market share loss."JEEVAN AASTHA" ICICI Pru is closing 100 Branches; it is a beginning. When...
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Debate: "Why are all the pvt Insurance companies finding it hard to come out of the red? (please dont show me the botched figures)" deleted from your view.
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(rate this)
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Yes
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7
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VS |
2
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No
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Jairam Gopalan Aiyer
| Argues in support of
"Yes"
| 3 years ago
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Yes, it is already happening Bancassurance. Recently, for an educational loan the Bank suggested to one of my customer - a Term Policy; after discussing with the customer I convinced them for a Whole Life Policy. Another Bank has now suggested an...
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Danaseker
| Argues in support of
"No"
| 3 years ago
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One way it is good but in other way Insurance business is done mostly by individual Insurance Advisors whose career will be affected.
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Niranjan Meena
| Argues in support of
"Yes"
| 3 years ago
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Yes I feel that multi distribution channel will help the insurance companies. Multi-distribution is the most effective way for insurers to attract new customers and increase the wallet share from existing customers. The average mature-market...
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Debate: "Multi-distribution channel- a growth lever for insurance.!!" deleted from your view.
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(rate this)
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Yes
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37
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VS |
5
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No
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John D Nevin
| Argues in support of
"Yes"
| 2 years ago
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Yes, I agree. There is a huge potential for growth of the insurance sector in the rural areas. This is because the awareness about the insurance products is picking in the rural areas thanks to the advertising that the insurance companies do in...
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Niranjan Meena
| Argues in support of
"No"
| 2 years ago
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Amar is right. Income of villagers is too less. They cannot even afford their basic needs properly. Moreover majority of them are illiterate who don't know anything about insurance which gives birth to many myths against insurance. The population...
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ish kumar banga
| Argues in support of
"Yes"
| 3 years ago
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Well in my view, i strongly with the point that rural market is one of the fastest growing market. As a Insurance Sales Professional, I have visited many rural villages and most of my bank branches are in one of most backward areas of Rajasthan...
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Debate: "Is rural sector a market for Insurance" deleted from your view.
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(rate this)
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1
Online proposal and transaction
2
Mobile Payment System
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lal kamleshwar singh
| Supported idea
"Mobile Payment System"
| 2 years ago
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Being an LICian I deeply realize that most of the problems comes as premium collection. In practice agents collect premium collection in cash from party, though they are not authorised for it. and after sometime party lodge a complain of...
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Srinivasan
| Supported idea
"Reduce the duration period"
| 2 years ago
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I don't think this option. The purpose of taking a insurance will be defeated if the duration is reduced. You have other investment option to chose to make money faster.
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Ajay
| Supported idea
"Online proposal and transaction"
| 2 years ago
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True...its not just about getting the policy but also how you will be able to manage it later, especially for the people who are frequent travellers.
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Ideate: "How insurance companies can make life easier for customers.." deleted from your view.
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(rate this)
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1
Training & Development
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Market Segmentation and Insurance products and services that cater to the needs and wants of these segments
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Niranjan Meena
| Supported idea
"Training & Development"
| 2 years ago
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I also support my friends idea regarding the training and development in the insurance companies. Many people in India are unaware of the insurance policies, this is due to lack of proper training to agents who promote insurance policies. So...
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Meetu Sardana
| Supported idea
"Training & Development"
| 2 years ago
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There is a greater need to train people in this sector. The major factor which is acting as a hindrance to growth of Indian insurance sector is the lack of trained professionals.
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A.Mohamed Ali
| Supported idea
"Training & Development"
| 3 years ago
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Hi, The basic qualification of any sales person is " Understanding Customer's needs and delivering accordingly. Understanding the customer's need can only be achieved by listening and observing the suctomer. We must make the customer speak
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Ideate: "How to grow and survive in the Indian Insurance Market ???" deleted from your view.
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(rate this)
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Yes
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6
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VS |
1
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No
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SR Sham Sunder
| Argues in support of
"No"
| 3 years ago
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wealth management v/s health management by way of customized and personalized e-solutions of banking and financial services in the competative edge of LPG in our economy by professionally managed group of entrepreneurs as project leader / mentors...
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Maria Colaco
| Argues in support of
"Yes"
| 3 years ago
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I agree that wealthsurance is a comprehensive investment solution, it takes care of all types of investors whether cautious or risk-taking. It provides a whole range of benefits like terminal illness, major diseases, hospitalisation ,...
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Swati Raut
| Argues in support of
"Yes"
| 3 years ago
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It's a good investment alternatives, it also enables us to achieve wealth goals even in the event of unexpected death, accidents, disablement or serious illness. The present volatile markets may make customers averse to equity investments. And I...
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Debate: "Wealthsurance Management " deleted from your view.
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(rate this)
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1
Insurance should be sold as Insurance only and not as Investment
2
Too much charges on customer..
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Mathew Cherian
| Added idea
"Premiums to sum assured is analomos"
| 1 year ago
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Suppose if the sum assured is 100000 and the insurance company feels they have 80% chance of pocketing 100000 without needing to pay and 20% chance of pocketng 50000 before risk ensues, then they will price it at 90000 for the life of the...
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HEMANT VERMA
| Added idea
"@KUSHAL "
| 2 years ago
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HE HAD EXPLAINED EVERY THING IN SIMPLE WORDS.
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Kaushal
| Supported idea
"Insurance should be sold as Insurance only and not as Investment"
| 2 years ago
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Agree with this. Insurance is the only structured product available today which covers following financial planning 1) Risk Management : Risk against uncertainty like Death, Accident, Sickness 2) Estate Planning : inbuild facility of assignment...
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Ideate: "Why people don't opt for insurance ?" deleted from your view.
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(rate this)
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Yes
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4
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VS |
7
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No
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Danaseker
| Argues in support of
"No"
| 3 years ago
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Most of the call centres facilitating services to foreign nationals who are looking for every needs through internet but not in India as far as Insurance is concerned even in meeting in person they have not understand the concept of Insurance as...
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Kaushal
| Argues in support of
"Yes"
| 3 years ago
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Internet can be a viable medium for GENERAL INSURANCE. But not for life insurance.
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moulik shah
| Argues in support of
"Yes"
| 3 years ago
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Definately it can do well but with only thing has to be ensured that the wordings should not float like it looks as spam. it is a smartness always to put the business in such a way that customer likes it and asks for it. The main point to fetch...
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Debate: "Internet a medium to buy Insurance" deleted from your view.
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