Channels of Distribution for Insurance Products
PRAKASH PRABHAKAR PATIL
Specialization: - Banking, Investment and Insurance
Welingkar Institute of Management Development & Research
Year of submission: - May 2012
I would like to acknowledge and extend my heartfelt gratitude to the following persons who have made the completion of this project possible.
I am highly indebted to Wellingkar Institute of Management for this opportunity and constant guidance as well as for providing necessary information regarding the project.
I would like to express my gratitude towards my parents & colleagues of HDFC Life Insurance for their kind co-operation and encouragement which help me in completion of this project.
I would like to express my special gratitude and thanks to industry persons for giving me such attention and time.
TABLE OF CONTENTS
|Content |Page No | |Introduction - Insurance Market in India - A Quick look |4 | |Distribution Channel – Definition & Importance |6 | |Current distribution channels for Insurance products |8 | |Tied (Agency) Channel |9 | |Corporate Agency |13 | |Brokers |14 | |Bancassurance |17 | |Online/ Internet |23 | |Microinsurance |26 | |Worksite Marketing |28 | |Indian Postal Services |30 | |Telemarketing |32 | |KIOSK or Virtual Marketing |33 | |Background |34 | |Methodology |35 | |Problems in Distribution of Insurance products in India |35 | |Conclusions & Recommendations |44 | |Limitations |48 | |Bibliography |49 |
➢ Insurance Market in India - A Quick look
Life insurance industry in India has gone through many phases since its start in 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. In 1829, the Madras Equitable had begun transacting life insurance business in the Madras Presidency. 1870 saw the enactment of the British Insurance Act and in the...
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