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UI plans aggressive promotion drive to penetrate rural/personal insurance market

UI plans aggressive promotion drive to penetrate rural/personal insurance market

Author | exchange4media News Service | Monday, Sep 16,2002 9:14 AM

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UI plans aggressive promotion drive to penetrate rural/personal insurance market

With Rs 10 crores for brand promotion, United India Insurance Company Ltd (UI) is planning an aggressive promotion drive to penetrate the rural and personal line of insurance segments.

As part of this initiative, the company plans to kick off a week long ‘claim clearance’ campaign where in a customer could walk into any of its offices and settle claims instantly.

According to sources, the campaign is aimed at settling all non-suit claims instantly in any of its offices. The idea is to drive home the point that customer is the ‘be al and et al’ for us. However, claims which are disputed in the courts of law will not come under the purview of the campaign. The company has 723 branches, 368 divisional offices, 24 regional offices and employees 21,000 people.

The company had earlier appointed AF Ferguson as a consultant to advice it to on how to tap the personal line of business. The consultant had advised UI to set up a strategic business unit for tapping the personal insurance business and float a separate subsidiary for the branch of business at a later stage.

Following this, UI has set up the SBU, which now works as an independent division within the company. The company is gearing itself to tap this line of business in a big way through the SBU. Last year, it had done about Rs 250 crore worth business from this segment. Besides, business from the underserviced rural and semi urban markets is another segment which UI would focus for its topline growth.

Tags: e4m

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