Page 4 - Life Insurance Today March 2018

&
Contents Focus

5 5 5 5 5 Happy customers are the key in-
Editorial 3 gredient for a successful recipe

for all companies; the same
The "IGMS": So far so good, but not holds true for the insurance industry.
good enough If a policyholder is unhappy either with
- Jagendra Kumar 5 the service that he gets from the insur-
ance company, or with the product it-
The mantra of successfully selling self, or for any other reason; then his
insurance products grievances must be tended to with ut-
- Dr Ashish Barua 10 most priority. Effective Grievance Man-
agement of Insurance Sector pertain-
ing to Life and Non life products of dif-
Indian Insurance in the Global Scenario 18
ferent insurer companies are geo-
graphic hectic and intense in nature.
Smart Future Plan
10 10 10 10 10 sence of marketing. It re-
from Canara HSBC Oriental Bank of
Commerce Life Insurance 27 Successful selling is the es-

volves around the needs and
Golden Years Retirement Plan interest of the seller. Infact, selling
from Exide Life Insurance Company Limited 28 starts with the seller. Selling as an
occupation is something that leaves
most people terror-stricken. Yet sell-
IRDAI Circular 30
ing is such an integral part of running
any business that good sales people
LEGAL 31 are in great demand. Believe me,
there's no end to learning in the sales
game.
Important Insurance Contacts 33
34 1818 1818 18 Globally, the share of life in-

Statistics surance business in total pre-
mium was 55.3 percent. How-
ever, the share of life insurance busi-
LIC News 38 ness for India was very high at 77.95
percent while the share of non-life
insurance business was small at 22.05
Private Life News 39
percent. In life insurance business, In-
dia is ranked 10 among the 88 coun-
IRDAI News 41 tries, for which data is published by
Swiss Re. India’s share in global life
insurance market was 2.36 percent
Glossary & Poll 42 during 2016.

4 March 2018 Life Insurance Today