Increase in income, increase in consumption – then why no increase in your life insurance cover?
Despite the many benefits of life insurance, there are very few policyholders in India. This is due to an array of reasons, such as lack of awareness, socio-economic pattern of the society, vast gap in financial literacy and a number of operational hassles.
However, it is imperative to have a life insurance policy in your financial plan. It not only secures your investments but also provides financial protection to your family, in case of any unfortunate event. Therefore, a conscious effort is being made by the government and life insurance companies to spread awareness about the importance and benefits of life insurance.
One such initiative – “Mission Insure India” by ICICI Prudential Life in association with CNBC-TV18 is a conscious step towards creating awareness about the role and relevance of life insurance. As a part of this initiative, industry experts gather to discuss the current situation, challenges and the future of life insurance in India.
In the third episode of this initiative, industry stalwarts like Neeraj Choksi, Joint Managing Director, NJ Invest India; Pranav Mishra, Senior General Manager-Retail Liabilities Group, ICICI Bank; Rahul Parikh, CEO, Bajaj Capital; and Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, engage in an insightful conversation on how right distribution can help life insurance companies in providing life insurance to all in a transparent manner.
The experts shared their views on the philosophy of 3Ds.
- ‘Discovery’ of the customer’s needs to help select the appropriate life insurance product
- ‘Design’ the customer’s journey in both – online and offline space
- ‘Delivery’ of the right experience at every stage of customer journey from buying the policy to post-sales service to claim settlement
Experts also discussed a popular sales concept that helps customers re-evaluate their life insurance policy and understand its importance basis their changing needs.
To know more, watch the third episode of ‘Mission Insure India- Life Insurance For All’.
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