NATIONAL INSURANCE ACADEMY

PUNE

P639- MARKET INTELLIGENCE (LIFE)

(2022-23)

Background:

One of the most important aspects impacting an organization’s ability to stay ahead of the market is to have a comprehensive understanding of its competitors, the state of its industry, and the changing consumer landscape as a whole. With this information, the marketers can evaluate their tactics and optimize future campaigns based on their own insights as well as those from across the entire industry. 

The Life Insurance industry continues to remain one of the fastest growth markets. It is expected to expand at a CAGR of over 7.00% the FY2019 to FY 2024 after the effects of the pandemic and favorable demographic factors and economic recovery.  It is the customer centric activities which will gain prominence and stay ahead of competitors.  Market intelligence systems can be used to identify business opportunities and avoid threats.  Huge data and information are available and prioritizing information is vital.

Sound marketing strategy of an organization depends on superior market intelligence. By collecting and analyzing contextual data about customer and industry trends and behaviors, marketers can gain a holistic understanding about what is and what isn't working. This can give businesses an important advantage over competitors, educate them about their target audience, and evaluate insights into their various products.  Hence collection and analysis of market intelligence should be done properly.

Objectives:

This Program shall elevate the participants ability to collect market information and prioritize the information and transfer market information into practically implementable ways of achieving the organization’s short term and long-term goals and stay ahead of the competition.

At the end of the program the participants shall be able to appreciate:

Ø  Global trends in life insurance

Ø  Social intelligence.

Ø  Components of market intelligence

Ø  Market research to drive organization strategy.

Ø  Consumer expectation

Ø  Emerging trends in distribution

Ø  Products of competitors

Ø  Dynamics of the country’s economy

Ø  Regulation updates.

 Contents:  

Ø  Global Trends in Marketing- Moving towards digital

Ø  Market Research (Data Collection, Data Analysis and Practical Way of Implementation)

Ø  Current Economic Scenario.

Ø  LIC in the listed environment  and Opportunities in the Financial Markets

Ø  Regulations Update on Marketing -Standardization of Pension, Micro and Health Insurance Products

Ø  Consumer Buying Behavior/Customer Engagement

Ø  Changing Customer Profile

Ø  Marcom and Brand Building

Ø  Trends in Marketing Communication

Ø  Business Ethics

Ø  Competitive/ Competitor Intelligence

Ø  Basic Communication Skills

Ø  Leadership Skills – Overview

 Participants Profile:

 Officers in the cadre of Divisional Managers in Zonal Offices and the Divisions on the marketing side to be nominated by the respective HRD Department of Zonal Offices.

The Divisional Manager Cadre Officers working in the marketing departments in Central Office to be nominated by HRD Department of Central Office

 Duration:       4 days

 Dates:         17.05.2022-20.05.2022