Professional Documents
Culture Documents
INTRODUCTION
THEORITICAL FRAMEWORK
Head offices
Regional Offices.
Insurance
agents Divisional Banks.
Or direct
offices.
selling agents.
Branch offices.
Customers Promotion –
Since the insurance services like any other services are
intangible, there is more stress on designing subjective
expression and impressions rather than objective evidence. The
methods used in the promotion of insurance services are
personal selling, publicity, and sales promotion. The insurance
services rely heavily on the ‘personal selling’ through
commission agents and development officers, as the services
cannot be separated from the performer. Moreover, the exact
standards of performing cannot be specified. One strategy of
personal selling is to make their presence felt as maximum as
possible and should maintain a high visibility. The insurance
organization should choose the media vehicle, which is credible,
and trustworthy otherwise it may be boomerang. Though there
are varied techniques for sales promotion the affective way of
sales promotion in case of life insurance services may be free
gifts like calendars etc. to its existing customers and discounts
in premium in case of brand loyalty. These can go a long way in
attracting potential customers as well.
Target Market
Promotion
People. *Personal
Selling.
*Personnel. *Publicity.
*Customer. *Sales
Promotion.
Process Price
*delivery. *Premium.
*Automation. Placement
*Streamlining. *Offices.
*branches.
*development offices.
*Agents.
2) Objective –
Research design
1) Product (service)
2) Price
3) Place or distribution
4) Promotion
5) People
6) Process
7) Physical evidence.
NATURE OF STUDY-EXPLORATORY
Data collection method- Data was collected both from primary
and secondary sources. Secondary data was collected from books,
magazines, newspapers etc. for collecting primary data survey
method was used wherein customers of both the organization were
surveyed.
Data collection instrument – For collecting primary data
structured questionnaire were used. Separate questionnaire were
made for conducting survey among customers of LIC and ICICI
Prudential.
LIMITATIONS
• While making this report few typing and compilation result may
have crept in which have not been able to get rectified. Also the
major part of the data collect is primary in nature and hence the
data may be subject to some human errors.
• Also, not many people have actually applied for claim settlement
ever in their life insurance company. As a result of this
conclusion with regards to the claim settlement has not bee able
to serve its purpose.
• The study was mainly conducted in the national capital region of
Delhi. It has not have included relevant respondents in other
areas in the sample size.