NATIONAL INSURANCE ACADEMY

PUNE

P020 – PROGRAMME ON DISTRIBUTION CHANNEL MANAGEMENT

FOR MB&AC (LIC)

(2023-24)

Background:

The life insurance industry in India consisting of 24 life insurance companies, including LIC of India has become significantly competitive in terms of distribution channel management, innovative product mix and consistent customer engagement. The opportunities continue to be huge and the options to harness this potential have increased many fold. From offline to online, from service desk to messaging platform, from cheque delivery to RTGS payments, the expectations of the customers have grown manifold. The need of the hour is a sustainable business model, experienced management team and a willingness to change and adapt. Under this steep competitive scenario, optimum use of the banks distribution channel for effective product marketing has become the new normal.   

This program aims to make the participants aware of different channel mix and product mix adopted by different insurers. At the same time the program would emphasize on the strengths and the weaknesses of current distribution systems and formulate the strategy to increase the productivity and business quality of the channel.

Objectives:

On completion of the program, the participants will be able to:

Ø  Critically analyse the distribution channel performance

Ø  Understand the weaknesses in the current distribution system

Ø  Learn ways to strengthen the systems and processes of the distribution network

Ø  Improve  the productivity and the business quality

Ø  Enhance customer engagement.

Contents:

Ø  Current Economic Scenario

Ø  Global Insurance Scenario

Ø  LIC in the listed environment

Ø  Emerging Marketing Trends and Competitive Intelligence

Ø  Distribution Channel Mix – SWOT Analysis

Ø  Future of Bancassurance

Ø  Customer issues in other channels

Ø  Digital Marketing and e-commerce

Ø  Opportunities in IMF & Web Aggregators

Ø   Leveraging AI/Big Data for Direct Marketing

Ø  Challenges in Alternate Channels

Ø  Corporate Agents Regulations

Ø  Interaction with Channel Partner Banks/IMF/Corporate Agents

Participant Profile:

All marketing officials posted in the B&AC Departments in the SO/BO/Divisional Offices, Zonal Offices and Central Office to be nominated by HRD Depts. of Zonal Offices and Central Office.

Duration: 3 days

Dates:

        I.            19.06.2023 -21.06.2023

     II.            24.07.2023-26.07.2023

  III.            11.09.2023-13.09.2023