Intrduction to Inurance Final Report

1 Executive Summary.

2 Introduction to Insurance.3 Early Methods.4 Modern Insurance.5 Strengths and Opportunities - Weaknesses and Challenges.6 Health Insurance Sector in India.7 Research Methodology.8 Summary of Findings.9 CRM Initiative for ACENSURE Financial Solutions PVT LTD.10 Marketing Initiative for ACENSURE Financial Solutions PVT LTD.11 Client Survey for Probing Prospects.12 Changes in Marketing of LIC after Privatization.13 Estimates of Premium for Health Insurance.14 Advertisement of Life Insurance of India.15 Conclusions.16 Overall Learning’s from Project.17 Bibliography.

Index

CRM IN FIELD OF HEALTH INSURANCE

Student Name – SWAPNIL .D. SHINDE

Roll N0. – 2013050

Course – P.G.D.M

Faculty guide – Mr. AMIT SHRIVASTAVA

Industry mentor – Mr. SANJAY .N. TARI

Name of Organisation –

ACENSURE FINANCIAL SOLUTIONS PVT LTD.

Acknowledgement

I owe a great many thanks to a great many people who helped and supported me during the project. My deepest thanks to our faculty , Mr. Amit Shrivastava, the Guide of the project.My deep sense of gratitude to Mr.SANJAY .N. TARI –CHAIRMAN, ACENSURE FINANCIAL SOLUTIONS PVT LTD.for his support and guidance. Thanks and appreciation to the helpful people at ACENSURE FINANCIAL SOLUTIONS PVT LTD, for their support. I would also thank my Institution and my faculty members without whom this project would have been a distant reality. I also extend my heartfelt thanks to my family and well wishers.

INTRODUCTION TO INSURANCE

Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

According to study texts of The Chartered Insurance Institute, there are the following categories of risk:

Financial risks which means that the risk must have financial measurement.

Pure risks which means that the risk must be real and not related to gambling

Particular risks which mean that these risks are not widespread in their effect, for example such as earthquake risk for the region prone to it.

It is commonly accepted that only financial, pure and particular risks are insurable.

An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.

The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate (indemnify) the insured in the case of a financial (personal) loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated.

Early methods

Merchants have sought methods to minimize risks since early times. Pictured, Governors of the Wine Merchant's Guild by Ferdinand Bol, c. 1680.

Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively.[2] Chinese merchants travelling treacherous river rapids would redistribute their wares across many vessels to limit the loss due to any single vessel's capsizing. The Babylonians developed a system which was recorded in the famous Code of Hammurabi, c. 1750 BC, and practiced by early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the shipment be stolen or lost at sea.

At some point in the 1st millennium BC, the inhabitants of Rhodes created the 'general average'. This allowed groups of merchants to pay to insure their goods being shipped together. The collected premiums would be used to reimburse any merchant whose goods were jettisoned during transport, whether to storm or sinkage.

Separate insurance contracts (i.e., insurance policies not bundled with loans or other kinds of contracts) were invented in Genoa in the 14th century, as were insurance pools backed by pledges of landed estates. The first known insurance contract dates from Genoa in 1347, and in the next century maritime insurance developed widely and premiums were intuitively varied with risks.[4] These new insurance contracts allowed insurance to be separated from investment, a separation of roles that first proved useful in marine insurance.

Modern insurance

Insurance became far more sophisticated in Enlightenment era Europe, and specialized varieties developed.

Lloyd's Coffee House was the first marine insurance company.

Property insurance as we know it today can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses. The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan for London in 1667".A number of attempted fire insurance schemes came to nothing, but in 1681, economist Nicholas Barbon and eleven associates established the first fire insurance company, the "Insurance Office for Houses", at the back of the Royal Exchange to insure brick and frame homes. Initially, 5,000 homes were insured by his Insurance Office.

At the same time, the first insurance schemes for the underwriting of business ventures became available. By the end of the seventeenth century, London's growing importance as a centre for trade was increasing demand for marine insurance. In the late 1680s, Edward Lloyd opened a coffee house, which became the meeting place for parties in the shipping industry wishing to insure cargoes and ships, and those willing to underwrite such ventures. These informal beginnings led to the establishment of the insurance market Lloyd's of London and several related shipping and insurance businesses.

STRENGTHS AND OPORTUNITIES

The intense competition brought about by deregulation has encouraged the industry to innovate in all areas; from underwriting, marketing, policy holder servicing to record-keeping. The existence of stringent licensing requirements ensure that only adequately capitalized and professionally managed companies are eligible to carry out insurance and reinsurance. The Insurance Regulatory Development Authority of India’s (IRDA) emphasis on quarterly reporting/monitoring of insurer solvency has enhance capital adequacy and transparency. Aggressive marketing strategies by private sector insurers will buoy consumer awareness of risk and expand the markets for products. Competition in a deregulated environment will allow market forces to set premiums that are appropriate for exposure and push insurers to differentiate their products and services. Innovations in distribution and improvements in market penetration will follow as public and private insurers compete to market their products. Allowing insurers to issue their own policy wordings and set their own rates will enable underwriters to tailor products to meet client needs. Range of available products will increase because foreign companies bring with them a wide range of products and product development expertise.

Capital structure of entire insurance industry will improve as foreign companies bring fresh capital with them. Market efficiency will improve due to information dissemination, global operating knowledge and increased competition. Management efficiency will increase because foreign companies bring with them global experience and management innovation. Customers’ service will improve competition. which will finally benefit the consumers.

WEAKNESS AND CHALLENGES

Premiums rates will remain under pressure due to intense competition on more profitable lines. Falling premium income without a corresponding reduction in claims is likely to drive down profits. Public and private sector insurers’ greater reliance on their investment portfolios to generate sufficient income and gains for net profits would subject them to the volatility of the financial markets. Private insurers need to raise more capital otherwise growth could be constrained since reliance on reinsurance for capital relief is not always viable or available. Traditional distribution channels, especially tied agents, need to improve to match the new product offerings. 146 There is general lack of transparency as financial and operational data for insurers are not readily available as none of India’s insurers are directly listed on stock exchanges. Like all developing economies on a fast track, the shortage of trained insurance professionals and technicians at all levels cannot be remedied in the short term. Natural catastrophes will always be present; the Indian sub-continent is vulnerable to cyclones, floods, hurricanes and earthquakes, and until there is a national capacity (similar to the terrorism pool) to manage losses, dependence on overseas reinsurers will continue.

HEALTH INSURANCE SECTOR IN INDIA

Definition: Health Insurance

Health insurance in a narrow sense would be ‘an individual or group purchasing health care coverage in advance by paying a fee called premium.’ In its broader sense, it would be any arrangement that helps to defer, delay, reduce or altogether avoid payment for health care incurred by individuals and households.

Healthcare in India

Health is always a priority in India. While India has made significant gains in terms of health indicators -demographic, infrastructural and epidemiological, it continues to struggle with newer challenges. The country is now in the midst of a dual disease burden of communicable and Non-communicable diseases. This is coupled with spiraling health costs, high financial burden on the poor and erosion in their incomes.

2 Reasons why Health Insurance is a must:

• Reason 1: Lifestyles have changed

Indians today suffer from high levels of stress. Long hours at work, little exercise, disregard for a healthy balanced diet and a consequent dependence on junk food have weakened our immune systems and put us at an increased risk of contracting illnesses.

• Reason 2: Rare non-communicable diseases

Are now common, Obesity, high blood pressure, strokes, and heart attacks, which were earlier considered rare, now affect an increasing number of urban Indians.

Shocking Truths

• 18% of the urban population suffers from hypertension, which leads to renal failure, stroke and cardio-vascular diseases.

• 30% of the population suffers heart attacks before Age 40.

• 66% of deaths today are due to cardio-vascular Diseases.

• Almost 3.5 million Indians suffer from diabetes

• Cardio-vascular diseases (CVDs) like heart disease and stroke are the main causes of death and disability

The Cost Factor

• Reason 3: Medical care is unbelievably

Expensive Medical breakthroughs have resulted in cures for dreaded diseases. These cures, however, are available only to a select few. High operating expenses—therapy for breast cancer costs as much as Rs. 2 lakhs for 3 days—have restricted treatment to the richest. In fact, even among the affluent groups, 20% need to sell their valuable assets so they can accumulate the required amount to meet healthcare costs.

• Reason 4: Indirect costs add to the financial

Burden: Indirect sources of expense—travel, boarding and lodging, and even temporary loss of income account for as much as 35% of the overall cost of treatment. Most often, we overlook this fact when planning for medical expenses.

• Reason 5: Incomplete financial planning

Most of us have insured our home, vehicle, child’s education, and even our retirement years. Ironically however, we have not insured our health. We ignore the fact that illnesses strike without warning—and seriously impact our finances and eat into our savings in the absence of a good health insurance or medical insurance plan. Over two thirds of all Indians sell assets or dip into existing savings to meet healthcare costs.

Penetration of Companies

RESEARCH METHODOLOGY

To learn about the product and plan how to pitch the product .

To understand existing customer database to probe for the new customers .

To understand and the Profit making “cash cow” products and “star and Question mark” categories .

To understand about the industry standards from my senior subordinates and industry mentor MR. Sanjay . N .Tari .

To learn the client database of a single early then come out with estimates for the new areas where I am probing .

Company Profile:

• Company Name : ACENSURE FINANCIAL SOLUTIONS PVT LTD .

• Nature Of Business: Complete financial advice .

• Nature Of Concern: PVT LTD Company

• Name of Director: Mr. Sanjay N Tari .

Mrs.Smita S Tari.

Miss.Swapnila S Shet.

• Description of goods marketed by Company:

1. Life Insurance

2. Non Life Insurance

3. Mutual Funds

4. Bonds

5. Loans

6. Small Savings

7. Real Estate

EXECUTIVE SUMMARY

Acensure is a modern age financial consultancy firm. At Acensure we provide integrated financial solutions to individuals, corporates along with value added services. Our in-depth industry knowledge shall benefit you by measurable strategies for realizing your financial goals.  

The foundation stone of this organization was laid by Mr Sanjay N Tari 3 years back after a successful career of 15 years as an LIC Agent.He posses excellent skills and boast of many laurels and recognitions to his credit.Some of them are as follows 

He is an certified member of CII,U.K ( Chartered Insurance Institute ) 

Member of MDRT(Million Dollar Round Table,U.S.A) for consecutive 6 years. M.D.R.T is an international institute which recognizes ace Financial advisors world wide.Less than 1% of the advisors worldwide enjoys this prestigious recognition. 

He is also a Life member of IFPA(Institute of financial planners of India) 

He is member of Chaiman’s club member of LIC of India, one of the highest recognized club of the organization. At LIC of India branch 921 he holds record of proposing and completing 123 insurance policies in single working day. This record remains unbeaten till date. 

Mr Sanjay Tari is also a recognized as Chief Life Insurance Advisor,wherein he has appointed more than 20 LIC Agents in his team. 

In line with the dynamic financial industry and to sharpen his skills further he is pursuing degree course of “Certified Financial planner”,recognized by FPSB,(Financial Planning standards board India) 

Mr.Sanjay Tari also has many awards bestowed upon him by the financial services organizations with whom Acensure is associated. We have strategic alliances with some of the ACE financial products services providers in the country some of them are :Life Insurance Corporation of India,Bajaj Allianz General Insurance co.,United India insurance co ltdApollo Munich Health Insurance Co. Karvy Stock broking ltd. 

We are also associated with HDFC Bank to render home loan services.We also enjoy association with strong and ethical organizations for providing services like personal loan,real estate,mutual funds. 

We at Acensure cater to clients from all walks of life. We render unbiased and professional advice to all our clients, as a result of which we will help achieve destination of “Total Financial Freedom” i.e. freedom from financial stress, Family security and safety during times of distress 

Established in the economic hub and financial capital of the country-Mumbai, our reach spans nationwide and worldwide. We happily and efficiently furnish our high profile financial services to NRI’s and P.I.O’s, our own sons and daughters of the soil, dwelling across the globe. Since they have a strong connect with their motherland.  

It is our ethical background, customer centric, practical and process driven services and advices that has enabled us to serve 2000 and still growing financially happy families in a span of 10 highly fulfilling years. We are helping them to achieve their financial freedom state with our “Smile, Serve and secure” attitude. Our ever growing clientele base includes business people, professionals, executives at all levels, SME’’s, Schools across the geographical boundaries.

SUMMARY OF FINDINGS

Findings from Customers:

• Age is the Major criteria for Hospitalization:

• Out of 100 customers met, the patients above 35 years are 64%.This also indicates that 34% of young patients (below 35 years) are hospitalized and are more vulnerable for diseases.

• Among the Responded Customers, Males are more in number than females.

• Educationally qualified customers-60%.

• Forty Three percentage of patients (43%) are aware of Health Insurance products .This data indicates that the remaining dominant group of people (57%) are unaware of Health Insurance.

• Majority of patients are willing to avail Cashless facility rather than claim procedure. The Reason for cashless priority is the ease of procedure.

• In the contrary, the claiming patients say that they can avoid high billing in hospital front thereby they can preserve some money for future expenses.

• Among 100 patients questioned, only 16% of patients are insured for Health.

• Among Insured patients, Majority of them prefer family insurance rather than Individual Coverage.11 out of 16 patients wants to protect their dependants with Health Insurance coverage.

CRM INITIATIVE FOR ACENSURE FINANCIAL SOLUTIONS PVT LTD.

The decades of eighties and nineties realized that the operations of the company must focus on the customer. Companies began to acknowledge the customer as a king. This concept changed the function of the marketing department. Marketing was now all about building relationships. With this the concept of CRM evolved.

With the increase in competition something more was required. Today customers are increasingly becoming more sophisticated in their buying behavior. Their demands are higher, in terms of service and quality. And therefore new methods and techniques are required to delight the customers.

CUSTOMER RELATIONSHIP MANAGEMENT

Customer relationship management is a tool through which the company records the data of all the customers and uses it to increase loyalty and retention of the customers. It is a customer centric philosophy which brings together information from all the data sources to give a holistic view of each customer. It helps to learn more about customer’s needs and behaviors in order to develop stronger relationship with them, thus not only satisfying them but delighting them.

Why Customer Relationship Management

1. Highly competitive marketplace : The emerging channels have transmitted the marketplace into a fierce battle field. · The new empowered e-customer: The customer is now well aware of the market opportunities, through Internet & other sources.

2. Ever changing technology : New technologies provide a way to provide personalized solution at individual level.

3. Making business sense : Companies that provide customers with what they want, take share of wallet from those who don’t.

The ever growing demand of CRM solutions find its foundation in the perpetual shift of the market circumstance, and escalating leap forward in strategy formulation towards the customers.

MARKETING INITIATIVE FOR ACENSURE SOLUTIONS PVT LTD.

Benefits of Survey form:- We can determine the financial capacity of an individual and accordingly push our

insurance products. We can determine if the prospect family has an health insurance. We can determine the mode of payments and suggest him how our company works. We can determine whether the customer has and retirement security.

Sr.N0 Personal details

1 In which financial instruments do you prefer investing?a)Gold b)Life Insurance c)Real Estate d)Mutual Funds e)Shares f)Others______

2 Your decision to invest depends upon?a)Past performance b)Economic scenario c)Company Analysis d)Others_______

3 Which investment sector do you prefer investing in?a)Private b)Public

4 What percent of your disposable income do you keep aside for investment schemes?a)5%to10% b)10%to15% c)15%to20% d)above 20%

5 Which source do you mostly look for financial education and awareness?

a)Friends b)Family c)Registered financial firm d)Media e)Other_______6 Do you have a mediclaim policy?

a)Yes b)No7 What is the value of your Health Insurance plan?

a)1 Lac-5Lacs b)5Lacs-10Lacs c)Above 10Lacs8 According to you which is the most important aspects that health insurance plans should

cover?a)Life time renewal b)Dental and Cosmetics c)Maternity d)Post retirement benefits e)Others______

9 Does your employer provide you with any kind of insurance?a)Yes b)No

10 Are you satisfied with current investment scheme which you have taken?a)Yes b)No

11 Have you made any retirement plans for yourself?a)Yes b)No

12 While investing your money, which factor is of utmost importance to you?a) Safety of Capital b)Returns c)Liquidity d)Retirement protection e)Tax

benefit13 Do you have a housing loan?

a)Yes b)No14 Do you own a 2/4 wheeler? If yes, is it properly insured?

a)Yes b)No15 Which mode of communication do u prefer?

a)email b)Post c)Sms d)Others________16 Please state your opinions and views on investment?Estimates of premium for health insurance:-

1. Sushant Kadam

Family member name Relation AgeSushant Vishwas Kadam Main 33Smita Sushant Kadam Wife 25Nita Vishwas Kadam Sister 22Prashant Vishwas Kadam Brother 28Suchita Vishwas Kadam Mother 52

Here this family has to take their health insurance individual groups.Company United India Insurance CO.LTD and Apollo Munich.

Relation

Husband and wife

Cover

5,00,000

Premium

7235

Company

United India

Brother 2,00,000 2809 United India

Sister 2,00,000 2472 United India

Mother 2,00,000 7556 Apollo Munich

Challenges:-

Here what happened as there were a couple they had to take their medical insurance in a club Brother and Sister individually and mother because of her old age she had to take it separately.

There Total Premium was 8730 in this they will get an health insurance cover of up to 2,00,000.

Having and health insurance is as important as having an LIC policy because to have higher returns on your LIC policy u have to live long till the maturity .

2. Chitra Dhareshwar

Family Member Relation AgeChitra Sachin Dhareshwar Main 30Sachin Vishwanath Dhareshwar Husband 40Shreelata Vishwanath Dhareshwar Mother in Law 66Vishwanath Prabhakar Dhareshwar Father in Law 74Anjali Sachin Dhareshwar Daughter 6Aarini Sachin Dhareshwar Daughter 2

Here this family has to take their health insurance individual groups. From company Apollo Munich.

Relation Cover Premium CompanyFamily of 2 adults and children

5,00,000 23,965 Apollo Munich

Mother in Law 2,00,000 7556 Apollo MunichFather in Law 2,00,000 8000 Apollo Munich

Challenges:- Here the main challenge was to make them understand the distribution of their

covers respectively.

As you can see here husband and wife and their children can be grouped together in one group and in laws separately.

The total premium of this family amounts to 39,521 almost 40,000 in this they will get an cover of up to 2,00,000 rupees per person.

Having and health insurance is as important as having an LIC policy because to have higher returns on your LIC policy u have to live long till the maturity .

CHANGES IN MARKETING OF LIC AFTER PRIVATIZATION

Marketing plays a vital role within the insurance industry. It is used to increase sales and sustain marketplace positions for major companies and by smaller companies to build and grow their businesses. The use of marketing can be as far-reaching as a national television campaign to grow and sustain a major insurance company, and as localized as a business cards and fliers used by a local insurance agent. Regardless of size, marketing tactics and strategies are developed by all in the industry to target consumers and prospects to cover their insurance needs for home, health, life and commercial coverage. Until the Indian insurance industry was liberalized, LIC did not have any clear marketing strategies. Since it enjoyed monopoly status, it could afford to have a very limited focus on marketing. For the average Indian, LIC became synonymous with life insurance, and over the years it built up an enviable brand image in both rural and urban areas. The company grew by leaps and bounds, with people buying its policies due to the tax concessions attached to it. On account of its position as a monopoly, LIC did not standardize its practices, nor did it focus on providing better customer service to the policyholders. After privatization the LIC of India has been facing competition pressure, so it has been reorganizing itself in order to perform better and to compete with private players. LIC has been formulating new strategies and plans from time to time. In wake of coping with the competition LIC has been taking following steps to increase its market competitiveness and retain its dominant position in the insurance market.

PRODUCT DEVELOPMENT: Product development is the most basic and essential part of marketing of a company. Prior to privatization almost 100% of the products sold to Indian customers were traditional ones with a quasi absence of individual pure protection products. More than 90% of the individual products sold were traditional savings cum protection products (endowment or money back).The product range were small and not innovative enough. Most customers were underinsured with no flexibility or transparency in the products. LIC sold insurance as a tax planning instrument, not as a product giving protection. Group insurance business was only through formal Group Employer-Employee (Traditional products such as Term Assurance, Gratuity, Leave Encashment and Super Annotation). LIC also tried to include features like accidental death, disability benefit and premium waiver clauses in many of its policies. However, all these benefits were not available in all type of policies. Further, addition of such benefits added complexities to the product. Moreover, many policies like unit linked policies and term insurance policies were not provided by LIC. After the entrance of private players many new and innovative products were introduced by the private players due to which the traditional products of LIC had to face tough competition. The customer had more to choose in terms of policy instruments as new players came up with innovative product line. Naturally, the policies issued by LIC needed to be seen in this light and suitable steps had to be taken to customize the products. After entry of private players in life insurance industry, there has been a big change in the kind of products provided by insurers. Many products like unit linked plans, single premium plans and pension plans have become quite popular these days.

ADVERTISMENT

Marketing and sales promotion activities were very limited in LIC with small number of advertisements in print media and television. LIC was the only player, most advertising tended to be either merely informative or plain dull. With the insurance bill being passed in 2000, the Indian insurance sector saw a host of private players enter the market with multinationals as their partners. These new players resorted to aggressive marketing and advertisement strategies – something the market had never seen earlier. This sudden spurt of advertisements and awareness programs was visible on all the media channels. Print, electronic and outdoor advertisements of the new private insurers flooded could be seen everywhere. In response to this LIC launched various advertising campaigns to meet its corporate objectives. The new insurance companies used all channels of advertising from newspapers and the television to insurance agents and direct mailers. A fierce battle seemed to have begun among Indian insurance companies to make one’s own brand win over the other. The new companies focused their campaigns primarily on building an image of trustworthiness and reliability for themselves. Secondly, their advertisements focused on insurance as an investment option and not a mere tax saving tool – another first for the Indian market. Most of these advertisements carried messages like the family’s happiness, human bonding, etc., with underlying emphasis on the security that insurance could provide. Also, instead of projecting the idea, that an insurance policy actually starts working only after the death of the insured, the new campaigns projected that insurance protects people throughout their lives. In one of its TV commercials, ICICI Prudential showed a series of scenes depicting the childhood, marriage and old age of an individual. The purpose of using these visuals was to translate the company’s message ‘I will protect’ into real-life incidents. In order to project its commitment towards consumers to ‘protect at every stage of life,’ the company brought in the concept of sindoor, which symbolizes protection. Sindoor was shown throughout the commercial as a mark of auspiciousness and protection, and at the end, it became the red line below the ICICI Prudential logo. Max New York also resorted to depicting positive emotions such as trust and protection in its print advertisements. The company released two print advertisements. HDFC came up with advertisement which projected insurance a wealth creation tool.

As a provider over the years the various advertising and publicity campaigns of the LIC were conceived to meet the following objectives.

Creating awareness in the mind of the public about the need for life insurance Promoting and positioning various life insurance products Corporate branding and societal marketing Highlighting the various customer centric activities including consumer education

CONCLUSION

It can be said that LIC did a commendable job by bringing about changes in its marketing strategy. LIC tried its level best to cope with the marketing initiatives of the private insurance companies.

The market share which the private companies were taking away from LIC was an eye opener for LIC who was once enjoying monopoly position in the market.

The private companies were taking away the market share by bringing new and innovative products to suit the needs of customers, building a strong distribution network, strong advertisement and finding new markets for their products.

LIC which was moving on traditional pattern revitalized itself to regain its market share and image and came up with new marketing and sales promotion techniques. These changes proved to be fruitful for LIC.

OVERALL LEARNINGS from the project:-

Discipline and Punctuality are the starting two steps of success.

If you fail to plan you plan to fail.

Never postpone your work try to finish all the pending work before you step out of the organization because the next day should start with new work.

Customers are important but even our own employees.

A helpful customer feedback can be more powerful than a hefty discount or a super attractive advertisement.

Every client is unique and you should handle them with patience and respect.

To know thoroughly about the product before you set out for a meeting.

Higher targets are important but they should not be achieved at the cost of customer’s lack of information.

Setting goals is different and attaining them is completely different.

When you have a large customer database you should always try to break data in the easiest possible way for you to understand.

When it comes to investment “Do not put all eggs in one basket”.

Honesty is expensive do not expect from everyone have a foxes eye over every issue you have a doubt on.

BIBLIOGRAPHY

www.sanjayntari.com

www.ehow.com

www.wikipedia.com

www.licindia.com

www.apollomunichinsurance.com