Life Insurance Corporation of India has come out with yet another initiative of Direct Mark eting.

Life Insurance Corporation of India has come out with yet another initiative of Direct Marketing. It has been observed that in the severally under-tapped Indian Insurance Market, competition has done something good i.e. creating awareness about need for taking Life Insurance Policy. Till now the concept was that Life Insurance is only sold and not bought. But changing economic scenario has changed the age old concept too. With the awareness about Life Insurance products having gone up, customers are not only asking for Life Insurance products, they are also clear which category of products they are interested in. In particular, a huge demand is observed in children products, pension products and health products. All these products being available with market linked returns makes them more attractive. Demand for Life Insurance products has further gained momentum due to volatility in the stock market, real estate and even gold. Customers who are looking for safety of capital, steady growth and long term investment to meet specific financial goals of their life are turning to Life Insurance.

VISION : To reach out to untapped market segments,to provide efficient &convenient buying experience to customers MISSION: To build perception about lic being a contemporary customer centric organisation

ROAD MAP Satarting on a very small base from five locaton only Wrokinkg on simple and flat structer Exporing new age marketing initiatives like digital campaingning And online marketing . High tec processing Shophication in die livery Continuous contact with customer Converting one time to life customer Close monitoring off sale process through leadmanagement EXCEPTED BENEFITS Contemporary buying experience customer of lic This channel has will work asexperimental lab for all new intitives All successful experiments can be transported to main line

We will get tocustomer choice, preferences , nedss and demand fast and integrate them with new product and systems reachingout pped markets like HNI,NRI,YOUTH and femail segments Passion ing of special products like health incurance and pension products TOOLS :TOOLS TO USE FOR DIRECT MARKETIG 1. TELE PHONING 2. INTERNETNET 3. DIREC RECRUTMENT BY DVISION OFFICE NUMBER OF POLICY TOTAL NO. OF PREMIUM TOTAL NO. STAFF RECRUTED & TRMINATED TOTAL NO. PRODUCT LIC DIVISIONAL INCOME BY DIRECT MARKETING TOTAL CUSTMER SATISFACTION 240 180 5 CR 3 CR 8 4

CUSTOMER AWARENESS OF REGARDING DIRECT MARKETING CUSTOMER BELIFES REGARDING DIRECT MARKETING

Senior Business Associate - SBA is a development officer on the rolls of LIC of India, who has been working with a cost ratio of less than 3% ( ie. if a development officer's annual remuneration is Rs 6 lakhs and he brings in a schedule premium of Rs 2 crore through his team of agents then his cost ratio would be 3%). They are authorized to operate all over India in recruiting agents and will be given Rs 15000/- PM to operate their office and allowed to collect premiums. Chief Life Insurance Agents (CLIA) - Are either existing club member agents or ex employees of the corporation. Who basically function as off the roll development officers with out any fixed salary but they get various allowance for recruiting, training and mentoring agents. At the max it may work out to about 7.5% of First year premium. It is because of the similarity in the nature of job and professional jealousy that the development officers don't appreciate the corporations initiative. And contrary to what Sanjay Tulasian says the people in LIC are far more honest and sincere than any one in Max New York Life. No wonder MNYL is closing down offices across India.