1. Service Marketing
INSURANCE
BAJAJ ALLIANZ GENERAL
Presented by:
Ranjit George 11 725
2. Flow
Service
Characteristics
3 P’s Service
Marketing
Service Marketing
Triangle
Service Gap Model
3. Service Characteristics
Intangibility
1. Bajaj Allianz cannot showcase their services as risk factor is
uncertain, thus limiting immediate benefit exposure.
2. Past instances of speedy settlement can be showcased, Risk
incidences data usage.
Inseparability
1. The insurer(Bajaj) and insured need not be physically present to
file claims or to avail the benefits.
2. However, the insurer(Bajaj), insured, agent, bank are inter-related
and necessary to complete the cycle of insurance.
3. Premium Payment shall be made by the Policyholder of the
Policy. Third Party online payment is prohibited
4. Variability/ Heterogeneity
Bajaj Allianz Insurance service will depend upon the type of
insurance (natural disasters, personal incidences), agents
involved(experienced, inexperienced), Claim filing ( late,
speedy).
Insured not sure Bajaj will fulfill its promises as advertised
(online ads, sales pitch).
Perishability
Claim filing and premium payment is necessary to claim
insurance, once the claim has been settled, Bajaj Allianz services
perishes. In case of low growth, it may face market exit, staff
cuts.
5. 3 p’s of Service Marketing
Employees : Bajaj Allianz
employees should be well
trained, qualified, customer
centric
Customers : Customer centric
approach, well educated and
aware.
Communication : Detailed
Plans, Open Door Policy,
Communication bottlenecks
6. Physical Evidence
Facility : Spacious Office, 24X7 customer
support
Equipment : IT support, online portals,
administration, stationery etc.
Employee Dress Code : Formals on
working days, casual friday etc.
7. Activity Flow: Insurance
information and coverage
verification, billing and
reimbursement
Level of Customer
Involvement : Low level of
customer involvement,
Customer pays the premium
and files claim.
14. Gap 1 : Not knowing what the customer expects
Customer Expectations
1. Inadequate market research.
2. Lack of upward communication
3. Insufficient relationship focus
Company Perceptions
Bajaj Allianz can fill this gap by conducting proper market
surveys to know the insurance needs of the public, provide more
detailed information before, during and after the process and
focus more on long term customer retention.
15. Gap 2 : Not selecting the right service design and standard
Customer Driven Service
Designs & Standards
1. Poor Service Design.
2. Absence of Customer Driven Standards
3. Inadequate physical evidence and services
Management Perceptions
Bajaj Allianz can fill this gap by designing specific policies
according to individual needs, implement international
customer standards, provide more data on past performance
16. Gap 3 : Non Deliverance
Customer Driven Service
Designs & Standards
1. Problems with service intermediaries.
2. Failure to match supply and demand
Service Delivery
Bajaj Allianz has commendable HR policies, it can further train
its agents, have good relations with authorities and banks and
increase recruitment based on increasing market share
17. Gap 4: Not matching performance to promises
Service Delivery
1. Lack of integrated communication.
2. Ineffective management of customer expectations.
3. Over promise
External Communication to
customer
Bajaj Allianz can avoid this gap by having more presence in the
media, fulfill the ‘hard at work’ online campaign promise and be
careful in drawing the line in promises.
