Sales,

Distribution and
Retail
Management
GROUP 8
 Brokers: Represent the customers and provide expert
advice on best insurance policies

Agents: Responsible for negotiating or facilitating a

contract on behalf of the insurer, in Digit Insurance: PSOP
Channels of or Points of Salesperson
Distribution
Direct Channels: No intermediaries, policies marketed by
employees of the company

Web Aggregator: Website collating information about all

policies from various companies
Channels of Distribution
 Motivation of Agents, Brokers and Web
Aggregators
The following are the major changes to the regulations governing the payment of incentives
to agents and other intermediaries:
1.  Insurance companies will be required to adhere to the regulatory limits
2. Insurance firms would have to inform their agents on the highest awards they may give
during the year if certain requirements are met at the start of each financial year
3. Insurance companies will have to notify their agents if their incentive programmes alter
4. Insurance companies will be required to establish transparent criteria for awarding
incentives, along with the necessary justification and logic
5. Insurance companies will be required to implement effective reward policy oversight
 Motivation of Direct Selling
To motivate the the employees of the company
directly, Employee recognition benefits, as follows, are
given:
1. Recruiting top talent
2. Productivity and Innovation
3. Participation and engagement
4. Culture
5. Retention
Sales Force
Structure
PRODUCT SALES FORCE GEOGRAPHICAL SALES FORCE
 Selling healthcare products in the North region
Underwriting for clients coming through corporate agents and
brokers
Maintaining relation with agents and brokers
There happens to be duplication in the efforts 
Functions Pre and Post sales functions

Performed Claims handling and reducing TAT (Turn Around Time)

Sales and marketing
Actuarial
Risk management
Investment management
Finance and treasury
  Continuous meetings with Brokers and agents
 From first step of quotation to customer to issuance of policy is
undertaken by the Management trainee
 Lead Generation
 Workflow Efficiency
Issues Faced  Duplication of efforts

by Sales  Underwriting 

Professionals  After sales assistance

 Managing all the channels and being representative of the firm for
post sales service
 Customer Relationship Management 
 Regulatory Challenges
 Shifting demographics
 Recommendations for
the Sales Force
1. Simplify the process by using bots to calculate premiums,
decreasing the sales representative's workload
2. Equal consideration should be given to all possible brokers and
agents under various headings
3. Equal weight should be given to both sales and post-sales activity
4. From each territory, a star representative
5. Using AI throughout the process reduces human mistakes
6. Using AI for underwriting and claims processing, totally automate
the process
7. Include a method for tracking a single customer's ticket
8. Single database to avoid the team's efforts being duplicated
 GROUP 8:

SARTHAK NARULA – 291048

APURV – 291049

THANK YOU PIYUSH VERMA – 291050

PRANJAL CHAUHAN – 291051
SHRISTI BANG – 291052
SHUBHANGI GUPTA - 291053