Selling Process (Product Analysis)
As we all know that in India most of the private players of Insurance industry are serving to the nation. Out of one respected brand I have taken to do the assignment named Birla Sun life Insurance, which is pioneer to the industry. It always uses to come with the innovation of their products. It is only the company who initiate the ULIPs (Unit Linked Insurance Plan) and for that matter its been a revolution in the industry. Birla which is the well known Indian brand serving in India with the joint venture of Sun life Canadian based company, which makes Birla Sun life Insurance.
Recently, as per the guidelines changed by the IRDA, all insurance companies have to change their products. So as I want to explain about Birla Sun life Insurance, it has also come out with their new products like New Dream Series, Platinum Series, etc.
Birla Sun life Insurance company is having products: –
1) Dream Plan
2) Health Plan
3) Term Plan
4) Platinum Plan
5) Retirement Solution
Out of these, I have taken the Dream Series product to do the analysis
As the company is having Dream Series since 4 years, in which company is giving all the features which is the need of an every individual in present scenario. Also dream is the hot selling product in the market; no company is having that kind of features. In comparison to other companies Dream has the beautiful points in it.
When the company launched its first series of Dream i.e. Dream Child & Dream Endowment at that time company was giving all the beautiful features in a basket with Dream at minimum price which was 7000 cost, where in customer can take high life cover with returns.
In the same manner company again came out the Dream series with minimum cost 9000, having all points in it.
Now, as per the guidelines have been changed i.e. on 1st September, 2010 by the IRDA, so Birla also has to come out with...