Marketing Strategies of Insurance Companies in Us, Uk, India Etc
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MARKETING STRATEGIES OF INSURANCE COMPANIES IN US, UK, INDIA ETC FOCUS ON 7P’S OF MARKETING OF MARKETING MIX US 1. American International Group (AIG)- Market Value: $172.24 billion 2. MetLife- Market Value: $37.94 billion 3. Prudential Financial- Market Value: $39.70 billion WEB ANALYTICS, CAMPAIGN ANALYTICS Bancassurance will facilitate mass selling of insurance products through banks. Banks can act as large financial supermarkets. INDIA 1. Life Insurance Corporation of India 2. Bajaj Allianz General Insurance 3. ICICI Prudential Life Insurance 4. SBI Life Insurance ATTRACTING RURAL POPULATION-rural insurance schemes---The rural co-operative credit institutions could also be an important channel for distributing insurance products in rural areas. POSTAL INSURANCE COMPANY BASED INSURANCE SCHEMES After opening up of the insurance sector, LIC of India devised new marketing strategies to raise customer satisfaction, introduced many new schemes and products backed by publicity campaigns, standards were established in respect of general procedures, policy servicing customer interaction and fairness in dealing with customers and more stress is given on speedy claim settlements. Insurance companies can differentiate themselves in the areas of product, customer service, distribution channels, promotion, brand building
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