A Different Pitch ; the Second-Generation Private Insurers Try Innovative Strategies to Make a Mark, As Profitability Becomes More Crucial Than Ever Before.

Summary

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There are worse things in life than death. Have you ever spent an evening with an insurance salesman? Woody Allen is supposed to have made that famous remark about the tribe of insurance salesmen. Many Indians bred on the archetypical insurance agent could not agree more.

When the first wave of private players started invading the market around 2000, the insurance market grew by leaps and bounds (see chart) and so did this unloved species the insurance agent. Attracted by the enormous growth potential of the market, several other players have entered the market in recent years. And more are poised to tap into one of the two high-growth economies of the world.

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A Different Pitch ; the Second-Generation Private Insurers Try Innovative Strategies to Make a Mark, As Profitability Becomes More Crucial Than Ever Before.

For many of the fresh entrants, getting rid of this stereotype and making inroads into the customer's mindscape have been an uphill task. No surprise then that many of them mouth the mantra of "differentiation , whether in products or the distribution ch...

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