A STUDY OVER RECENT TRENDS IN INSURANCE MARKETING
Keywords:
Life Insurance, PrivatizationAbstract
Human life is a most important asset and life insurance is the most important type of insurance which provides financial protection to a person and his family at the time of uncertain risks or damage. Life insurance provides both safety and protection to individuals and also encourages savings among people. Risk is inherent part and parcel of our lives. None of us know what is going to happen to us in the future but what we do know is that accidents happen. This is the simple idea that the insurance industry is founded on. The insurance industry in India has changed swiftly in the turbulent economic environment throughout the world. Indian insurance companies have become competitive in nature and are undoubtedly serving customers in manifold ways. One of the important contractual savings institutions is life insurance which provides multi-dimensional services having a significant impact on economic growth. Insurance is one of the demanding financial products in India. Its basic motto is to protect the family from any uncertainty in life. So it is long term investment and need knowledge about that. Indian life insurance is too old. In the present study, insurance strategies, trends are considered. Product innovation, profitable growth, multi-channel distribution and ethical practices in business are few factors to be considered.
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