There is a contract between an insurance company and its customers
in which insurance company satisfy their clients by providing full protection
to them. Insurance allows the individuals to protect themselves from potential
losses. In other words we can say that an individual faced unexpected accident
then he/she need of safety that won’t instigate them to beg for money at the
last hour. The main mission of this industry is to provide supreme level of
insurance services to their clients. The insurance come up with two main forms i.e.
life insurance and health insurance. Firstly we talk about life insurance: in
this policy insurance company provide money to family after you passed way.
This is basically the type of care for your family at the time of your death. Furthermore
life insurance divides in to two parts i.e. whole life insurance and term life
insurances. The main differences in these two are time management. As by name
whole insurance it covers individuals entire life until he/she diet. And the other term insurance deals with the
specific time limit of individuals. Now we talk about health insurance it
mainly covers the individual medical and surgical expenses. This insurance protects
you from high cost of money in term of your damage. There are 4 main terminologies
used in the insurance i.e. an insurer (is a company that provide insurance to
the individuals), an insured (is a person who but the insurance policy from the
company), premium (price of contract paid by client to the insurance company),
indemnity (the amount paid by insurance company). The main objectives of the
insurance companies are to understand the customers need and satisfying them
also to deliver shareholders values. To maintain stable position in the market
with a stable growth is the main purpose of insurance company.
The world largest insurance company is in china in terms of
market capitalizations. It’s headquarter is in Beijing. The world’s second
largest insurance company is in America with more than 80 billion customers.
These insurance companies are dedicated in providing all the necessities of
life and make your life easy and relaxed. Other than this, there are also well
known insurance company in whole word they are: ING Group,
Zurich Insurance Group, AIA Group Limited, Metlife, AXA, Ping an, American
International Group, Allianz, China Life Insurance, Berkshire Hathaway. These
all companies know their market and having a strong understanding of their customer’s
need. They follow the effective market strategies to meet the need of their
clients. Insurance company growing rate is 15% to 20% annually.
According
to Bidnessetc.com the insurances companies created an online gateway where clients
can easily shop for insurance plans. It also give you an insights about
insurance stocks like The
Travellers company stock. The plus point for this online gateways is this,
now needed people easily compare a number of insurances policies and then purchase
the best which suits them. The more time insurance company spends in the
insurance market, the more they gain loyal customers.
To compete in the market and to fulfill the needs
and wants of clients, insurance industry must use effective marketing strategies.
It is compulsory for the insurance company to be honest in their field because
there are so many scams in different industries today so company should build
complete trust with their clients. Insurance
company must measure their marketing efforts based on goals they have achieved. Insurance company give lot of benefits to the
individuals like risk cover, protection against loss, peace of mind, tax
benefits, financial support, medical support, source of employment, old age
pensions etc. the insurance industry creates big record of success by
developing their policies. The insurance company should make more strategies to
stable in the market of insurance then they easily gain their loyal customers. The
companies gain this success when it lost focus on the changed needs of the clients.
There should be a more online polices in the insurance industry that benefits
the customers. It is compulsory for the industry to achieve better standard for
near future life. Human life daily deals with the risk so it
is better to fight with these risk one should insure him/her.
Lastly,
if you are keen about getting latest news and information about personal
products industry, then visit Bidnessetc.com.
0 comments:
Post a Comment