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Service Flower of Insurance sector
by Parvathy A+ on JUNE 30, 2013 in SERVICE SECTOR MANAGEMENT
Flower of services refer to a well-formed package of total services with all the
supplementary services being well formulated along with the core services. The
various petals of the flower are:

Information:
A marketer needs to provide adequate information to his employees and his
customers. This information is general information provided through various
communication channels.
In the insurance industry information is provided to the customers with the help of:

Agents
Seminars
Web sites
Print media
Radio
Television, etc.

Consultancy:
This is additional customized information provided to the potential customers by the
service provider. In the insurance industry it is provided by companys staff and
agents.

Example: In LIC when a customer enters asking of information about the policy, he
is directed towards the assistant sales manager. Assistant sales manager will listen to
the customers requirement and as per his requirement list the number of policies
that are available. He will also ask the customer about the price and limit the number
of options for the customer, so that he can easily choose the policy without
confusion.

Order taking:
Order taking should be done without mistakes. In LIC order taking is generally done
by:
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By Agents
On Web site (www.licindia.com)
By Assistant sales manager directly in the office.

Hospitality:
Hospitality is a very pretty petal, reflecting pleasure at meeting new customers and
greeting old ones when they return. Hospitality finds its full expression in face-to-
face encounters.

In LIC customers directly come in contact with the sales manager. The customers are
treated as guests. The sales managers of LIC are given special training of how to sell
the policies to the clients. It is only in LIC that a customer can meet the chairman
directly without any appointment.

Safe keeping:
It is in the process and procedures used by marketers to safe guard and to maintain
secrecy.

In LIC the data of the customers is very important. They feed the data of the
customers in their Front and Application Program Software which is connected
with all the branches of LIC. The data is only available with the sales people and not
shown to any person.

Exceptional:
Exceptional service means service over and above customers expectations.

LIC has the fastest claim settlement in the world thereby providing exceptional
service. LIC also solves complains of the customers within 7days.

Payment:
The payment of premium is normally through cheques. Customer can make payment
in LIC through:
Agents
Loans
Web sites
Standing instruction to banks:
In this the account holder will give standing instruction to his bank to pay the
amount of premium every month without his consent on the given date directly to
LIC.

Billing:
Product levels of Insurance sector Residential Hotels
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The billing should be done in such a way that there are no mistakes and if there are
any they must be immediately rectified. The billing should provide break-ups of
premium charged, service charges, etc.

Service Flower of Insurance sector by BMS Team
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