Home
/ Insuremagic Exclusives
Interview of Kartik Jain,
Head - Marketing,
ICICI Lombard General Insurance
- How would you differentiate your insurance products
from others?
The basic products are the same with every insurance company.
The key factor is the servicing. Its the way the product
is customised as per the needs of the client - the ease
in filling forms, claim handling, call centre experiences
etc are where the back end process is simplified and what
differentiates us from others.
- Within how many days do you settle claims?
It depends on case to case basis. Generally claims are
settled within 7 to 9 days but if further investigation
needs to be done the process may take longer.
- Which advertising media are you planning to
take to?
Over the next six to twelve months we plan to be on mass
media, including press, outdoor and TV. Alternative channels
such as the Internet, direct marketing, events and exhibitions
are also being looked at.
- What steps have you taken to educate the rural
folk about the importance of insurance?
We have set up a dedicated team to target the rural business
in a focused way. We are developing products specifically
designed for the rural segment; establishing channels
to reach out them; and setting up customer service processes
to service their needs in a cost effective manner. Only
once these are set up, will we start active awareness
building programs.
- Your target audience?
There are broadly two segments: the corporates (which
includes SMEs) and retail i.e. individuals. The Government
sector is an extension of the corporates. Within retail,
depending on the product, the target profile will vary.
- Awareness about the importance of health insurance
is low. What steps have to taken to improve the awareness
in the urban as also rural areas?
We have begun by introducing group health products. At
present we are in the process of finalising our plans
for the retail health segment.
- Pushing sales through offers of free insurance
cover by auto companies is common. Have you tied up with
any auto major for such promotions?
We have explored these options but do not have any tie-up
currently.
- Your company had plans to capitalise on the
internet distribution channel to sell insurance products
over the web. How far has it materialized?
We are in the process of building this functionality.
There are regulatory issues that need to be ironed out
especially for issuing policies over the web and for accepting
online credit card payments.
- Most of the insurers are tying up with a panel
of garages in each city to keep costs minimum. Which are
the garages you've tied up with?
We have limited number of tie-ups with garages.
- How many agents do you have at present?
About 1000 retail agents.
Archives
| Back
| Top | Home
| |
