A Study on Perception of Life Insurance Agency as a Career

 A Study on Perception of Life Insurance Agency as a Career


Abstract 

Capital-intensive business, Life Insurance Corporation of India, provides customers with the most important financial instrument aimed at both protection and long-term savings. Agent-based sales processes are used to sell a wide range of complex, need-based products, and this is how the corporation reaches out to people. Agents assist in the marketing of the company's policies by spreading the word about life insurance to the public. Insurers depend on them to provide traditional and innovative products, while customers rely on them to obtain insurance coverage and long-term investments. We examine the factors that influence agents' perceptions of Life Insurance Corporation of India in the current paper. According to the study, 100 people from three cities in the Preambular District were surveyed. For data analysis, a Factor Analytic Approach was used.

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Introduction

Customer value is created when salespeople provide enough information to customers so that they can form an opinion about the products or services. If the salespeople are able to foster their relationships with the clients, clients will be more satisfied and more willing to trust, securing a long term demand for the services (Tam and Wong, 2001). Insurance companies' efforts to sell insurance products and services to policyholders determine the success and overall growth potential of the industry.

For More Details About  A Study on Perception of Life Insurance Agency as a Career
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Or call us +91 9481545735

Conclusion

A smart strategy for selling insurance is to retain and service customers in a highly competitive, multi-player environment. To provide traditional and innovative insurance products, agents are the kingpin for insurance companies and the focal point for consumers seeking to obtain insurance coverage and long-term savings. Factor-analysis revealed that there are seven factors that influence agents' perceptions of their organization. Customers are perceived as the most important factor, followed by competitive advantage, material hallmarks, promising products & processes, service enhancement, and Exclusive attention.

For More Details About  A Study on Perception of Life Insurance Agency as a Career
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Or call us +91 9481545735

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