MBA (Insurance & Banking) and

Course Title: Servicing of Insurance

P/S

SW/F
W

Course Code: INS 711

TOTAL
CREDIT
UNITS
2

(Insurance & Financial Planning)

Products

Credit Units: 2
S.
Course Title
No.
1.

2.

3.

4.

5.

6.

Weightage (%)

Course Objectives: This subject prepares the student to understand the difference in product and service

industries. This would help the insurance students to do well in the service sector that they would
eventually join. Other module on sales management trains them to be good sales people and do well in
marketing and related sectors.
Pre-requisites: No pre- requisite. A student can learn it with a background of Graduation.
Student Learning Outcomes:
1. Student will understand the selling technique and the practical aspects used in Marketing
2. Students will learn the selling technique process in vogue in Insurance Life & Non- Life
3. Student will understand various distribution channels presently available in insurance
4. Students will learn products of Insurance along with services required
5. Students will appreciate concepts of Insurance & Expectation of Customers.
Module I Introduction of Services, Good Services Continuum, Unique Characteristics of Services,
Service Marketing issues, Service Quality, Service Encounters, Service Development & Design,
Service Delivery, Pricing of Services, Gap Model of Service Quality.
Module II Practical working and Role of Intermediary
Distribution Channels, Brokers, Corporate Agency, Bancassurance, Referred, Internet worksite
Marketing, Channel Development, Recruitment of Agents, Web Aggregator and Insurance
Repository.
Module III
Financial Planning & its importance
Networking

25

10

10

7.

8.

9.

10

Prospecting
Finding new customers & retaining old customers,
Module IV
Insurance Comparison of Products Companies in Life, General and Health Insurance
Personal lines of non-life products Motor Insurance
Health & Combi-products,
Housing as a tool of marketing,
Requirement for Rural Marketing and its Challenges,
Micro Insurance products
Module V
Selling Process Awareness of Products Advertisement of Companies Proposal Forms Policy
Documents Terms & Conditions Illustration.
Need-based Selling HLV, CLNA Concepts
Analysis of Company Performance on distributions of products
Penalty on Mis selling of Insurance Companies and its intermediaries
Sales Presentation After Sales Services - Customer Expectations Nature of Grievances - Life/
General/ Health
- Role Play
Module VI
Insurance & Taxation Personal Taxation as per Income Tax Act.
Calculation of Tax Liability
Pedagogy for Course Delivery:

1. Class room lectures

2. Objective type questions
3. Group presentation by students
4. Case Study analysis & problem identification and solution
5. Home assignment for presentation
6. Surveys/ Industrial Visit/ Workshop

15

20

20

11.

Assessment/ Examination Scheme:

Theory L/T (%)
Lab/Practical/Studio (%)

End Term Examination

100
NIL
Theory Assessment (L&T):
Continuous Assessment/Internal Assessment

Component
s
(Drop
down)
Weightage
(%)

70
End Term
Examinatio
n

Group
Presentation

Class Test

Class
Participation

Attendance

10

10

Text & References:

Marketing of Financial Products & Services Dr. Sunil Kadyan / Mr. Manish Sharma.
Selling of Life Insurance a practical way by B. K. Raman

References

Services Marketing Ravi Shanker

Service Marketing M. K. Eampal, S. L. Gupta
Services Marketing Helen Woodruffe
Sales Management Still, Cundiff, Govoni
Sales Management Ramneek Kapoor
Sales Management Robert Calvin
Building & Closing the Sale Vivden J. Thornton, Viva Books Pvt. Ltd.
Networking for Career Success Diane Darling,
Selling to Win Richard Denny - McGran Hill, Universal Book Stall
Selling Idea, Services & Products Walter Vieira
21st Century Positioning Power Selling Skills Jack & Kander
FAQs Marketing Philip Kotler Marshall Cavendish

70