MTHEL131 Chapter Notes - Chapter 24: Salary, Financial Intermediary, Life Insurance
18 Dec 2016
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Life insurance company has three activities of: marketing, investments and. Marketing concept in life insurance industry is: focusing on consumer needs, integrating all activities of the organization, including production, to satisfy these needs, achieving long-term profits through satisfaction of consumer needs. Marketing provision of products well suited to consumers" needs through effective, appropriate distribution channels: distribution channel the means by which products or services are provided to customers. Once the marketing plan is implemented, management evaluates growth and profit goals: helps to make improvements on the plan, results: quantification of what the company wants and reflect a balance between long term and short term goals. Distribution through marketing intermediaries: agency building distribution. Career agency commissioned life insurance agents who primarily sells one company"s products. Branch office system insurer established agencies in various location and each is led by an agency manager, that is in charge of hiring and training.
