Emerging Role of Insurance Marketing

The wave of liberalisation is in full swing in India and so also in the Insurance sector. Sky is the limit for marketing services. The marketing of a number of services has engineered a sound foundation for the development of service organizations. Any emerging key service needs to implement innovative marketing strategies with due emphasis on quality and efforts to be competitive not only in country but also across international borders. To foresee this, happen, companies require fair synchronisation of performance and also employee orientation. A new corporate culture awaits innovation. There are a number of emerging key services that have made the corporate to think and attract attention like the financial services, banking, medical, tourism and many in the line, not forgetting the Insurance sector. The race and pace of economic transformation make ways for development of financial institutions. With the advent of globalisation and an assurance of new era of reforms, the Indian economy witnessed myriad challenges, the result of which can be envisaged in the opening up of new vistas for development of financial institutions in which due weightage was assigned to professional excellence. In this context, the increasing role of insurance sector can be seen. A new era has taken shape in form of e-insurance, influenced by techie-culture. The present paper is an attempt to analyse the reasons for changing trends and the huge potential this sector offers and calls for an optimal utilisation of the same and make the developmental process both proactive vis-a-vis productive.