Rural & Micro Insurance (Life)

Background
With a majority of the population concentrated in rural areas, rural markets have emerged as a major growth sector for life insurance business. Understanding rural customers plays a vital role in rural marketing. Marketing Managers and Managers (Sales) of divisions play a pivotal role in marketing suitable products and guiding the field force to tap the rural potential. The need of the hour is to fully equip them with necessary tools and techniques for meeting the above challenge.

Objectives
• Leveraging the rural market with reference to regulatory framework

• Recognition of the uniqueness of the rural segment

• Cost effectiveness and rural life insurance business

• Developing segment specific products and service packages

• Social sector marketing imperatives

• Institutional distribution channels

• Strategies for penetration into rural markets

• Role of voluntary organisation in life insurance marketing

• Understanding the product composition of competitors

Contents
• Definition of a rural market

• Regulatory requirements of rural business

• Rural Market Potential – Evaluation and SWOT analysis

• Life Insurance Schemes for Social Sector

• Life insurance needs in the rural market – product and service issues

• Rural customer profile – Present & Future

• Distribution channel options in rural areas

• Leveraging IT for rural market penetration

• Development of a two-way communication channel in the rural market

• Comparative product analysis – Life Insurance Corporation of India Vs Competitors

• Micro-financing and Micro-credit

• Government Policies for development of rural / social sector

• Role of Government Agencies / intermediaries / NGOs

• Business Ethics

•Implication of R.I. Act