The document provides an overview of insurance sector advertising in India. It discusses the history and growth of the insurance industry in India from 1818 to present day. It notes that the industry was initially comprised of many private sector companies, but was later nationalized and consolidated into public sector monopolies. Since 2000, the sector has reopened to private and foreign companies. It also summarizes key findings from studies on the impact of advertising on insurance company profitability and market share between public and private insurers over time.
For full text artical go to: http://www.educorporatebridge.com/insurance/insurance-sector-in-india/Insurance sector in India is considered as a huge market due to its momentous untapped potential. This sector is said to improve the standard of living of the people in an economy as it leads to risk free lives, promotes entrepreneurship, mobilizes savings and leads to protection of trade and industry which contributes in human progress.
Insurance, Sector History, FDI in Insurance, Government Role in Insurance, Industry Growth Pattern, Challenges of Insurance Market, Foreign Direct Investment in Insurance
For full text artical go to: http://www.educorporatebridge.com/insurance/insurance-sector-in-india/Insurance sector in India is considered as a huge market due to its momentous untapped potential. This sector is said to improve the standard of living of the people in an economy as it leads to risk free lives, promotes entrepreneurship, mobilizes savings and leads to protection of trade and industry which contributes in human progress.
Insurance, Sector History, FDI in Insurance, Government Role in Insurance, Industry Growth Pattern, Challenges of Insurance Market, Foreign Direct Investment in Insurance
The presentation discusses the comparative study of IDBI Federal Life Insurance Co. Ltd. and LIC of India. The comparison is done on the basis of products & plans, market share, new policies issued, grievances resolved percentage, premium collection, claim settlement ratio. The presentation also gives the analysis of customer awareness and satisfaction level for both the companies.
A Study of DSA Network Expansion and Product Promotion Strategy of General...Anish Singh
A summer project of the insurance sector. that you rarely found.
In this project, u will get promotion strategy, how u sell the insurance and their ways. how to pitch agents and made for your company. thank you
The present book is a great step in forward direction of Indian Insurance sector ; and I have no doubt that after studying this book in detail and getting through the examination successfully, the insurance agent will gain substantially in accomplishing the tasks that are assigned to him or her. I would keenly look forward to its huge success in the Indian insurance domain in the days to come.
The insurance sector in India is still in its nascent stages. But the Indians are an extremely risk averse race. Thus due to this only the government entities have a good presence and brand
recognition in India and the others have a difficult time carving a space out for themselves in the market.
The study helps to make comparison between the LIC with the new private life insurance company (IDBI Federal Life Insurance Co. Ltd.) on basis of quality of services, consumer satisfaction, awareness, consumer preference, market share, premium collection and their working as a whole. It shows the customer view point with respect to their company.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
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The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
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You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
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Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
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Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
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- New framework for examining and safeguarding an online reputation
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The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
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Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Financial curveballs sent many American families reeling in 2023. Household budgets were squeezed by rising interest rates, surging prices on everyday goods, and a stagnating housing market. Consumers were feeling strapped. That sentiment, however, appears to be waning. The question is, to what extent?
To take the pulse of consumers’ feelings about their financial well-being ahead of a highly anticipated election, ThinkNow conducted a nationally representative quantitative survey. The survey highlights consumers’ hopes and anxieties as we move into 2024. Let's unpack the key findings to gain insights about where we stand.
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
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First Things First: Building and Effective Marketing Strategy
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Disclaimer: Some of the prompts mentioned here are the examples of Matt Diggity. Please use it as reference and make your own custom prompts.
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
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TL;DR. These are the three themes that stood out to us over the course of last month.
1️⃣ Social media is becoming increasingly significant for brand discovery. Marketers are now understanding the impact of social and budgets are shifting accordingly.
2️⃣ Instagram’s new algorithm and latest guidance will help us maintain organic growth. Instagram continues to evolve, but Reels remains the most crucial tool for growth.
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Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
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Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
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2. Amity Business School
The Meaning of Insurance
•
•
•
The meaning of Insurance is important for understand for
anybody that is considering buying an insurance policy or
simply understanding the basics of finance.
Insurance is a Hedging Instrument used as precautionary
measure against future contingent losses. This
instrument is used for managing the possible risks of the
future.
In the words of justice Tindall, “Insurance is a contract
in which a sum of money is paid to the assured as
consideration of insurer’s incurring the risk of paying a
large sum upon a given contingency.”
3. History of Insurance in India Business School
Amity
Phases
Phase 1
a.Life Insurance
b. General Insurance
Phase 2
a.Life Insurance
b. General Insurance
Phase 3
Life Insurance and
General Insurance
Period
Industry
1818 to 1956
( about 138 yrs)
Many (245) private sector companies only.
1850 to 1972
(about 122 yrs)
Many (107) Private sector companies only.
1956 to 2000
(about 44 yrs)
Nationalization, public sector or state
monopoly, only one company.
1972 to 2000
(about 28 yrs)
Nationalization. Public sector monopoly, only 1
company.
After 2000
Opened to the entry of private domestic and
foreign companies, mixed sector of public and
private sector units.
http://www.medindia.net/patients/insurance/insurance-concepts-and-irda-history.htm
4. Amity Business School
History of Insurance in India contd…
•1818 First life Insurance company “ Oriental Life Insurance
company (in Calcutta).
•1850 First general insurance company “ Tritan Insurance
Company (in Calcutta).
•Till 1956/1972 life and general insurance industry grown in
terms of number of companies (life 245 and general 107 with
complete private sector ownership), the volume of premium,
investible resources, and so on.
•The insurance was regulated through the Insurance Act, 1938.
5. Amity Business School
History of Insurance in India contd…
•In 1956, 245 Indian and foreign life insurers and provident societies
were nationalized, and new single entity namely “LIC” was
established by passing the LIC Act, 1956.
•Similarly, in 1972, 107 general insurers were nationalized through
the passing of general insurance Business Act, 1972.
•The existing 107 insurers were amalgamated and grouped into 5
companies, viz., National Insurance company (NIC), New India
Assurance Company (NIAC), Oriental Insurance Company (OIC),
United India Insurance company, and General Insurance
Corporation.
•Then insurance industry transformed into monopoly and
oligopolistic state or public sector insurance industry in India.
6. Amity Business School
AWARENESS CAMPAIGNS BY
INSURANCE COMPANIES
1.Stimulating the need for insurance.
2.Under insurance
3. Financial Independence
4. Insurance is a Long Term Savings
5. Trust & Transparency
http://canirmalg.files.wordpress.com/2013/01/few-perspectives-on-indian-insurancesector.pdf
7. Amity Business School
Comparison Between public & private sector
•
•
•
•
•
only endowment and money back policies were popular among
consumers.
focused on providing customized products, products that contain
innovative features to the customers created favorable demands for
other type of policies like tern insurance, child plan, pension plans and
unit linked insurance policies.
In oct.2000, IRDA issued license paper to three companies, which are
HDFC Life Standard, Sundaram Royal Alliance Insurance Company
and Reliance General Insurance.
At the same time “Principal approval” was given to Max New York
Life, ICICI Prudential Life Insurance Company and IFFCO Tokio
General Insurance Company.
Today total 22 life insurance companies including one public sector are
successfully operating in India.
9. Amity Business School
MARKET SHARE OF PUBLIC AND PRIVATE
INSURANCE COMPANIES
With the opening of insurance sector in India, the share of private insurer was
very less.
Total share of private insurer was just 2% in 2001-02. It was because of any
reason which includes credibility on private players.
Insurance 2001sector
02
2002-03
2003-04
2004-05
2005-06
200607
2007-08
Public
98
94
87
78
73.66
65.28
59.65
Private
2
6
13
22
26.34
34.72
40.35
11. Amity Business School
•
•
•
•
•
•
It is because of innovative & customized products, novel distribution
channels, aggressive marketing etc.
Private players gave a tough competition to public sector company (LIC).
Gradually, the market share of private insurer went up and till financial
year 2007-08, total share of private insurer reached as high as 40.35%.
The market share of LIC decreases after the entry of private insurer but it
doesn’t mean that the growth of LIC got down. LIC continue its growth
even after a cut throat competion from the private players.
Total revenue generated in 2007-08 by LIC is 149783.99 crore against just
Rs.51561.42 crore, generated by all 21 private players.
It shows that even after opening of insurance industry and heavy
competition from the new entrant, LIC observed a continuous growth in its
revenue generation.
12. Amity Business School
•
A key catalyst in the Indian insurance market growth has been the entry of
private players in2000-01.
• With the entrance of private players and foreign collaborations, penetration
of insurance sector in India has gone up from 1.02% in 1999-00 to 4 % of
GDP in 2007-08.
• Life insurance business in India grew by 14.2 per cent in US Dollar terms
in 2007-08.
13. Amity Business School
ADVERTISING AND PROFITABILITY.
A CASE STUDY OF SELECTED INSURANCE
COMPANIES
The research examined the effect of advertising on profitability of insurance
companies. This was because of the low return reported by insurance companies as
a result of low service awareness by the clients.
The study also realized that the major role of advertising is to restore customer
awareness for the services provided by insurance companies in order to increase
revenue. From the study, it was recommended that insurance companies should set
advertising objectives and classify them as whether they are going to inform,
persuade or remind. In this area the choice depends on the current market situation.
http://cees.mak.ac.ug/sites/default/files/publications/ADVERTISING%20AND%20PROFITABILITY.pdf
14. Amity Business School
Overview of Insurance Sector advertising in
Print during FY 08 -09
•
•
•
•
•
Print Advertising of 'Insurance Sector' has seen growth of 3% during the FY
2008-09 compared to FY 2005-06.
'Life Insurance' sector gathered 70% share of overall 'Insurance Sector' Print ad
pie during FY 2008-09.
'LIC' leads in Print advertising of 'Insurance Sector' during the current fiscal
year.
'LIC Jeevan Varsha' topped the list of new brands of 'Insurance Sector'
advertised in Print during current fiscal year.
More than half of the 'Insurance Sector' advertising on 'Non Metro'
Newspapers during FY 2008-09.
http://www.exchange4media.com/e4m/others/analysis240409.asp
15. Amity Business School
Volumes Growth of Insurance Sector
in Print during FY 2008-09
During FY 2008-09, 2% decline in Print ad volumes of 'Insurance
Sector' compared to FY 2007-08.
17. Amity Business School
• During FY 2008-09, advertising of 'Life Insurance'
and 'Non Life Insurance' sector was in the ratio of
70:30.
• 'General Health/Accidents Insurance' contributed
the highest (58%) of overall 'Non Life Insurance'
sector advertising in Print followed by 'General
Insurance' and 'General Agriculture Insurance' with
30% and 5% share respectively during the current
fiscal year.
http://www.exchange4media.com/e4m/others/analysis240409.asp
19. BIMA BEMISAAL –The Insurance
Awareness Campaign of IRDA
'Bima Bemisaal'
campaign.
Amity Business School
is the brand name for IRDA's insurance awareness
It is a consumer education initiative and has the tagline "Promoting
Insurance. Protecting Insured“
Bima Bemisaal educates policyholders about their rights and obligations and
informs them about the complaints resolution methods available to them. It
also creates awareness about insurance among the general public.
The Bima Bemisaal campaign uses various media like print, radio and
television. This website is also part of the Bima Bemisaal initiative.
27. Conclusion
Amity Business School
•
Insurance companies must advertise just like any other company with a
product on the market. This increases the awareness of the insurance
company's brand and makes it more recognizable to potential customers.
Insurance is not a tangible item; it is more of a concept and a promise to
pay in the event of a claim.
•
Because of this, it makes advertising for insurance more difficult. Advertising
for insurance is more about making a personality for the company that
clients can relate to, or by portraying the feeling of having a claim paid or
feeling safe and protected. Also, insurance advertising can turn insurance
into a commodity and portray the insurance company's brand as being the
most cost-effective.
http://voices.yahoo.com/marketing-advertising-insurance-companies6266538.html