Contemporary philippine arts from the regions_PPT_Module_12 [Autosaved] (1).pptx
aegon religare
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2. Training aims at recruiting maximum number of life advisors and to sell the maximum policies for the company and bring the business for the company which ever going at the particular point of time.
13. Some of the difficulties and limitations faced by me during my training are as follows:
14. Lack of awareness among the people- This is the biggest limitation found in this sector. Most of the people are not aware about importance and the necessity of the insurance in their life. They are not aware how useful life insurance can be for their family members if something happens to them.
15. Perception of the people towards insurance sector- people still consider insurance just as a Tax saving device. So today also there is rush to buy an insurance policy only at the end of the financial year like January,February and march making the other nine months dry for this business.
16. Insurance does not give good returns- still today people think that insurance does not give good returns. They are not aware of the modern unit linked insurance plans which are offered by most of the private sectors players. They are still under the perception that if they take insurance they will get only 5-6% return which is not true nowadays.
17. Lack of awareness about the earning opportunity in the insurance sector- people still today are not aware about the earning opportunity that the insurance sectors gives. After the privatization of the insurance sector many private giants have entered the insurance sector. These private companies in order to beat the competition and to increase their insurance advisor to increase their reach to the customers are giving very high commission rates but people are not aware of that.
41. 2001 Royal Sundaram was the first non-life private player to sell an insurance policy.
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43. Insurance industry is one of the fastest sectors in India. Insurance sector has been growing by 25% to 30% and it is expected to increase by 50% in coming 5 years. After the opening up of the insurance sector, it has become much competitive and insurance awareness among people has increased.
44. As far as the comparison of Reliance Life Insurance and other players is concerned, there are both positive as well as negative impacts on both the sides.
45. For Aegon Religare Life Insurance, the negative aspect is that its market share is low.
46. For private players the negative aspect is that they have to fight with the public sector giant which is established player with a high brand value.