Insurance Marketing Group Project Presentation By Ahmed Muneeb Mehta, Hailey College of Banking & Finance

2. Group Members
Muhammad Fiaz
Ei11MBA17
Naeem Arshad
Ei11MBA34
Muhammad Mohsin Ali
Ei11MBA20
Muhammad Abubakar
Ei11MBA07
Muhammad Waqar
Ei11MBA24
Danish Shahid
Ei11MBA33

3. Acknowledgement
We got an honor to present put up our meagre effort
in the form this project to our reverent and deferent
professor Ahmad Muneeb Mehta. We are highly
obliged and grateful to him depth of our heart that he
never confined us just in books but he imparted us an
opportunity to develop an instil our creative expertise
for the better future, also provided us a sound
platform to be well-groomed professionals. Therefore,
it is the extract and the outcome of his supreme
perception, consideration and academic guidance that
we are able to submit our project. We believe we will
be highly motivated and encouraged in this attempt.

4. What is Insurance?
Insurance is basically risk management device. The losses to
assets resulting form natural calamities like fire, flood,
earthquake, accident etc. are met out of the common pool
contributed by large number of persons who are exposed
to similar risks. This contribution of many is used to pay the
losses suffered by unfortunate few. However the basic
principle is that losses should occur as a result of natural
calamities or unexpected events which are beyond the
human control. Secondly insured person should not make
any gains out of insurance.

5. Why Insurance ?
You've worked hard to build a solid financial footing for you
and your family, so you want to be sure that everything is
protected. Accidents and disasters can and do happen, and
if you aren’t adequately insured, it could leave you in
financial ruin. You need insurance to protect your life, your
ability to earn income, and to keep a roof over your head.

6. Different types of insurance
Fire
Travel
?
Professional
Motor
Marine
Livestock
Crops

7. Education
Education is a powerful driver of development and one of the
strongest instruments for reducing poverty and improving health,
gender equality, peace, and stability. Although there has been great
progress in the last decade—many more children attend schools and
girls’ education has markedly improved—61 million children are still out
of school. Even when children complete school, they often do so
without acquiring basic skills necessary for work and life. This is
particularly detrimental when unemployment is high and labor
markets are demanding more skilled and agile workforces than ever
before.

8. Hurdle in Education
There are many hurdles in educational sector but the
financial deficiency is the biggest problem in Pakistan.

9. We Need
Security
• As we discussed finance is the biggest problem in education and
no one is sure about their financial standings.
• Any event can cause discontinuity in education if you are
financially disturb.
• That’s why we need security of finance to continue education
even in the financial crises.

11. Secure Education Insurance
Now complete your education with financial security.

12. Our Product Description
Secure Education Insurance- is a cover granted to students via
educational institute for semester/annual fee.
• Refund Fee
• Cover upcoming Fee
• Re-sit examination fee (extension)

13. How it will Work
• The amount of premium is in included in fee in the shape of %
• I will explain the product with the help of this example

14. Withdrawal schedule

15. Exclusions
• Any fine in the amount of fee.
• Re-sit examination fee.
• Any extra course taken fee.

16. Extensions
• Re-sit examination fee

17. Market Research and
Analysis
Our company wants to develop and introduce a new
Product. So, we have gathered information through in-depth
interviews. We made a survey of the market to have a clear
idea about our market, our customer demand, needs and
wants. This information helps us to know about the current
market and prospects of our new product.

18. Market Description
Pakistan is a country of about 185 million people.. The total market size of our
product is about 20 million and day by day it is increasing. We have a spread
nationwide market of different convenient product. People are nowadays very
much concerned about the market and product conditions. So we have a
growing prospect of customers of “SEI”. Among the population we worked out
few segments of customers who will prefer our product most.

19. Market Segmentation
and Targeting
Market Segments
We have observed and analyzed the
market and based on the nature of the
market we segmented the market in the
following sectors:

20. Geographic sector.
Private Sector
Govt. Sector
Demographics:
Individuals
Institutions
Behavioral:
Scholarships
Fee Instalments

21. Target market and
projections:
Analyzing all the segments, we decided our target market
according to our product category. The target customers of
“SEI” students studying in educational institutes. If we
consider price versus security of education received then we
can see that the security of education received is more
valuable. Therefore charging the mentioned prices are
justified. The following figures give a clear idea of our target
market.

22. Target Market:
Individual Students- 20%
Educational Institute - 80%
We separate our target market into three different
segment based on their geographic,
demographic and behavioral characteristics.

23. “SEI” wants to satisfy its customers
need. That’s why it is important to
identify the market needs. Our first
consideration is to provide the best
product to our customers.
Market Needs:

24. SWOT analysis:
The product existence in the
future is depending on its
strengths, weakness,
opportunities and threats
analysis:

25. Strengths:
1.Low production cost
2.Technological and marketing knowledge
3.Strong distribution channel
4.Easy process
5.Reasonable price
Weaknesses:
It is easy to copy the idea by others

26. Opportunities:
1.Large market
2.High demand
Threats:
1.High competition in future by
copying the idea
2.Entrance of new product
3.Alternatives are avoidable in
some segment
4.Uncertainty of launching a
new product.

27. Competitor Analysis
There is no competition in
market that’s why there is no
competitor for this particular
product.

28. Distinct Competency:
Companies can try to entrance our market
by launching new product lines to compete
us. Yet, we have distinct competitive
advantage. That is our product is still brand
new. The other companies will take
sometimes to enter into the market. Till then
we can have a monopoly market
condition. The other advantage that we
have is lower price. We will sell products in
reasonably lower price then other
competitors do.

29. Marketing Plan

30. Product
The secured education insurance
is a product specially designed to
provide cover of risk for future fee
payment.
it is provide an amount of money
when student face the financial
problem during the study.

31. Price
Price of secured education insurance
policy is determine by the some
percentage of the per semester /annual
fee of the particular student.
It’s 10% of fee payment.

32. Place
Place is a distribution channel of insurance products :
1-Through internet
2- Direct meet to the operational level
of particular college or university for sale the
policy for generating the customer loyalty.
3- In the premises of insurance company.

33. Promotion
We can promote this secured education insurance by
1- Personal communication
2-Impersonal communication with the
customer
- By advertising in which include
Print ads, radio, television,
- By personal selling which include
Sales presentations, sales meetings,
face-to-face selling.

34. People
For secured education insurance There is
the need of a competent and attractive
staff and other things is keep in mind
include:
1-Qualified staff,
2-Trained staff,
3-Staff have better skills,
4-Provide the Safety
5-Public relationship,
6-Better services provided to
colleges or universities.

35. Process
The staff is provide the services to reduce the
complications at the time of issuing of the policy
and also reduce the divergence of secure
education insurance policy for the benefits of
customer.
Physical Evidence
- College bag with printed labels
- Key rings

36. Pricing Strategies
We have decided to set a reasonable price for our product when
we will develop it. We considered many factors in setting the
pricing policy.
1. Setting the pricing objectives:
Our company has decided where it wants to position its market
offering. We have chosen our objective to maximize market
share. We believe that a higher sales volume will lead to lower
costs and higher long-run profit. We have set the lower price
because we assume that the market is price sensitive. Our overall
objective is to capture the maximum market share by setting
lower price.
2. Estimating costs:
We have estimated the cost and want to charge a price that
covers the cost of pure premium, commission and profit margin of
the product.

37. 3. Types of cost:
Insurance products include the following costs:
Pure Premium
Commission
Administration cost
Marketing cost
4. Analyzing competitor’s costs, prices and offer:
There are no competitors in the market therefore analyzing the
competitor’s cost is not possible.
5. Selecting a pricing method:
The pricing method for our product will be based on the
percentage of the covered fee and also depend on the pool.

38. Marketing Strategy
To acquire a strong position in the market, we need to
give special emphasis on effective promotional activities.
In order to get the maximum market share we will have to
use all tools of marketing promotion. Specially, advertising
through mass media will support us a lot.

39. Advertising:
We initially will give more emphasis on
paper ads and TV commercials. Because,
advertising through these media is the
most effective way to reach the customers
and position our product in their mind.

40. Personal Selling:
Personal selling is most effective
tool of insurance products. Both
the parties can directly interact
with each other.

41. Promotional Tools:
We have also planned to apply
some promotional tools. We
may apply the strategy of giving
gifts, lucky coupons, college
tours depending on the market
and competitive situations.

42. Conclusion
This new product offering is the best
choice for the students to eliminate
the financial hurdle in their
education.