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Discussion Forum : Micro-insurance is a segment where no insurer wants to go beyond the mandated norms. Are the low-ticket prices a de-motivator or do they actually find no intermediary to sell policies? | Business Standard
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3yrs 7months 1weeks 3days 3hrs 34mins ago | COMMENTS [2] | Economy

Micro-insurance is a segment where no insurer wants to go beyond the mandated norms. Are the low-ticket prices a de-motivator or do they actually find no intermediary to sell policies?

Micro-insurance is a segment where no insurer wants to go beyond the mandated norms. Are the low-ticket prices a de-motivator or do they actually find no intermediary to sell policies?

Necessary to investment in micro insurance sector .
Wednesday 19th of August 2015 06:50:46 PM
Insurance in our country is canvassed and sold by part-time agents. Naturally the agent wants to earn a decent income. This is not possible in the present business climate of " rebating," which means the agent has to forego his ( mostly) first year earnings to buy the proposal from the person who wants to insure. This practice is prohibited by law but like "dowry prohibition," is ineffective in practice. To maximise their earnings agents sell such plans of insurance that would give them quick and handsome return. This is the reality inspite of the socalled social objectives. Therefore Microinsurance is not attractive for the salesmen ( marketing force, agents by whatever name you call them.)Such plans are best marketed through those who do it as a service to society., eg. NGOs, Banks, Welfare organisations etc.The companies also sell them to satisfy mandates only. B.Ganga Raju Peerjadiguda Hyderabad.500098
Tuesday 4th of March 2014 07:33:49 PM