Mr. G. Krishnan is a commerce graduate with post graduation in law. He is an Associate of Chartered Insurance Institute (ACII) London, and has over 41 years of experience in Non-life insurance industry.  He has worked GIC of India, Royal Sunderam Alliance General Insurance and many international companies  

Q.    Insurance companies are into stress how you think this will affect your business?

Yes to do agree that the Insurance companies are under stress due to the introduction of regulatory to maintain the solvency margin.  But as far as due to this business is not affected. Only  challenge is the competition in pricing by insurers   

Q.     There is a lot of redemption pressure on life insurance companies, what is your experience?

The recent Covid 19 death cases affected the insurers particularly private insurers. Who have covered the young persons. But very tough in getting claims settled in time

Q.    What kind of challenges have you faced in the last 5 months?

We were facing to reach the insurers for the timely renewal of policies. Also clients were not familiar for the digital payment of premium online. Still prefer to issue premium cheque. But I  collected the cheque and deposited with Insurer bank and send the paying slip as proof of premium deposited prior to renewal. This was really challenge for us to retain the client and  provide best services as an advisor to client

Q.    What are the challenges you anticipate for the next 7 months?

Providing better services to the clients and get the claims settled in time  Provide upto date information to the clients on the various products designed by the insurers on health products .

Q.     Do you think online sales will take over traditional sales in the next 3 years? 1)     If Yes, Why? If No, Why?

 Yes. Since lot of adds telecasted in the Television channels. Insured visits the insurers site and do the comparison . Buy policy online. The reason being the mobile app.

Q.     Are you into Retail marketing, if yes what are your future plans?

We are not in much retail marketing.  Our clients are corporate.

Q.     Do you have POS network, if yes how it’s doing and what are your future plans?

No.

Q.     Where will the growth come from in your company?

The growth came due to the strict underwriting  of terms and rates particularly in Property and Engineering type policies

Q.     How many Covid-related claims your company has received so far and how many have been paid?

There are one death claim under Life Insurance policy and 5 nos mediclaim for hospitalization. All are settled by insurers

Q.  Which product do you think will do well in the next 2 years and why?

1. Life Insurance and 2. Health Insurance

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