Volume : VI, Issue : IV, April - 2016

ROLE OF MOTOR INSURANCE IN NON–LIFE INSURANCE–CURRENT SCENARIO & THE ROAD AHEAD

Aslesha Parwat Mukadam, Dr. Pramod Deo

Abstract :

 The problem facing insurance business markets today is not a shortage of goods but a shortage of customers. Insurance is “PEOPLE’S BUSINESS”. Insurers are dealing with people who are their policyholders, claimants, intermediaries, beneficiaries and even employees. Insurance is sold and seldom ought. Insurance selling is complex & difficult. All over the world Insurance is sold through intermediaries only. There is thus, a dire need for “our People” to be well–trained & professional so that the interest of policyholders is protected under the insurance contract and full benefits available to the customer. Instead of OVER PROMISE & UNDER DELIVERY” the motto should be “UNDER PROMISE & OVER DELIVERY”. This has not been an easy period for insurance companies. The cultural, operational and general along with the specialized role of insurers in the market and market challenges are converging; thus shifting the overall market landscape and forcing insurers to re–examine how they should conduct their business. Objective of this research paper is to have an overview of motor insurance as a anch of insurance and study the effects of changing environment after detarrification and privatization. Source of data collection for study is secondary data.

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Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

Aslesha Parwat–Mukadam, Dr. Pramod Deo ROLE OF MOTOR INSURANCE IN NON–LIFE INSURANCE–CURRENT SCENARIO & THE ROAD AHEAD Indian Journal of Applied Research, Vol.6, Issue : 4 April 2016

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