Since the nationalization of LIC of India LIC start configuring salesman. Commercialization of a new era in the settings while LIC agent. In essence, private operators have developed some new concepts such as marketing and Internet marketing e-mail through company representatives and brokers. When the subway trains in competition is tough, because not all companies have outlets in these cities. Taluk rural areas and competition is stiff as if a lot of subway trains, even in rural areas through private operators through advertising in almost all major newspapers and TV stations rush, but their physical presence is not felt.
Entry of private insurance players has brought alternative distribution channels to meet customer needs. Today, the customer interface and long-appointment of insurance agent will no longer be described as an insurance company. New attempt to emphasize the speed, convenience and ease of operations. Currently, insurers are to be sold everywhere. This study focuses on current trends and issues of life insurance. In the insurance sector is set to see a sea change in the way business has always been done, new innovative products for distribution, etc.
The changes in the external environment for the life insurance market must be properly designed to prevent excessive selling and mis-selling of more enthusiasm. insurance industry is experimenting with direct marketing plans to attract the attention of customers. Internet and direct mail are the easiest ways to reach consumers. The future of Medicare depends on the ability of the company to create more innovative, new form of distribution and chain systems in order to achieve and the expectations of customers more efficiently.
Even if the various industries do not grow their own and others Promote Each development, but the experience of development in both developed and developing economies reveals that the economy progresses, the service sector assumes the role of primary and its share in national income.
The financial sector is one of the devices before the service sector, and in this sector, the vital importance of insurance services. The role of insurance services to contribute to the evolution of economic development have not been adequately evaluated in the economic text. While a large number of studies and research papers are available on the role of other services such as banking, transportation, communication, public administration, defense, etc in the acceleration of national income in an economy, there is a shortage of material in international linkages between economic development on one hand and insurance services on the other.
Conclusion
The main objective of this paper is to familiarize participants with the role of insurance in economic development and expose them to the big questions about the role of insurance in developing countries in general and India in particular. The document also attempts to assess the penetration of insurance made in the country by international standards and monitoring of additional opportunities for the sector as a facilitator for economic and financial developments in the country.
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