The view that marketing or selling is misrepresentation is a widespread one. It is a burden that the profession has to bear and its members have to overcome before they meet with success.
However, the customer has rights. The law has to guarantee and protect them. And the Government has to help uphold them.
In fact, only if this entire system works to the satisfaction of the customer will it be sustainable. And only then can the seller, sell, says K Nitya Kalyani in this instalment of the Sales Skills series.

For a long time insurance customers have been asking for policies withboth Life and Non-Life cover.
In August, Star Health and Allied Insurance Company and Shriram Life Insurance Company came together to launch what are called combiproducts.

Insurance Regulatory and Development Authority (IRDA) was waiting for the guidance note from the Institute of Actuaries for bring out the initial public offering (IPO) guidelines for insurance companies by the end of February, IRDA Chairman, Mr J Hari Narayan, was quoted saying in media reports. IRDA is also considering introducing a cap on charges [...]

Move towards listing of companies on share market As a step towards insurance companies getting listed in the share market, Insurance Regulatory and Development Authority may come out with financial-disclosure rules for insurance companies, Mr J Hari Narayan, IRDA Chairman, has said, according to media reports. Other guidelines for insurance companies wanting to launch an [...]

The sixth Insurance Brokers Association of India (IBAI) was held at Bengaluru on November 23. The IBAI has demanded that they be allowed to collect brokerage charges on terrorism cover.

Insurance Regulatory and Development Authority (IRDA) is considering allowing Life insurance companies to invest part of policyholders’ funds in equity derivatives, a move that would allow these firms to balance the risks emanating from cash markets, according to media reports. Equity derivative is a financial contract whose value is derived from the estimated future price [...]

Insurance Regulatory and Development Authority (IRDA) is considering putting a cap of Rs 1.5 crore on the annual pay packet of Chief Executive Officers (CEOs) of insurance companies, according to media reports. “IRDA is examining the CEOs salary with great detail and is having discussion with insurance companies on putting a cap. We are told [...]

Many of those who matter, including Mr D Swarup himself, have expressed their opinion about the recommendation phasing out agents’ commission to which the media has given wide coverage

Insurance Regulatory and Development Authority (IRDA) has constituted a 10-member Insurance Information Bureau (IIB) to collect, process and disseminate reliable, timely and accurate data for efficient functioning of insurance companies and protection of the interests of policyholders. According to a circular from Mr J Hari Narayan, Chairman, IRDA, the available data is processed such that [...]

Though the Swarup Committee in its recommendation No. 10 proposes a change in the commission structure, among the arguments put forth against it are it is not final in nature, the spectacular growth of new business premium in recent years are because of ULIPs and insurance penetration is still low in India.