HOW TO MAKE INSURANCE REACH EVERYONE?
?Insurance concepts are difficult to adapt to life's risks by most people because they lack of clarity on benefits from general insurance; they lack trust in terms of claim settlement; they are unaware of full range of product offerings that can meet their specific needs; people and companies tend to purchase insurance due to bank push for asset cover as collateral.
Technical Advisor at MNC Broker and Martial Arts Practioner
8 年There are many reasons besides a few widely observed like - 1) Mindset created over many decades by the most popular LIC Endowment policy raising the expectation of return at the end of any insurance policy 2)Mindset of claim settlers at Insurance Company to first reject claim on flimsy grounds 3)Careless attitude of general public 4) Lack of Tax incentive 5) Missales by Insurance sellers 6) Low status in the eyes of Public / Corporation . It is subservient to a know all Accounts or Finance man in India . 8) Risk Mangement Approach completely disregarded by sellers etc .
INSURANCE CLAIMS CONSULTANT FOR REPUDIATED AND DISPUTED CLAIMS.Now at TIRUCHIRAPALLI-620001-TAMILNADU
8 年Unless the Insurers start issuing policies in simple local vernacular languages and be "honest" and "prompt" in claims settlements(not being "smart" and delay prone/unresponsive as they are now)they can not improve their very low image they "enjoy" in the eyes of the public.
INSURANCE CLAIMS CONSULTANT FOR REPUDIATED AND DISPUTED CLAIMS.Now at TIRUCHIRAPALLI-620001-TAMILNADU
8 年Unless the Insurers start issuing policies in simple local vernacular languages and be "honest" and "prompt" in claims settlements(not being "smart" and delay prone/unresponsive as they are now)they can not improve their very low image they "enjoy" in the eyes of the public.
Founder iServices
8 年There is a huge shortage of persons with insurance knowledge.Insurers,regulator and other financial service providers should educate the people and if possible stat insurance course at college level as an elective subject at least.-hsn rao