Channels The company follows multi-channel approach to tap customers. Depending on the effectiveness, the following channels are used for sales, service and other allied activities. The main objective of these channels is :
To create value beyond the “product”.
To convert customer to clients.
To spread awareness about the company and its products.
Retail Physical Sales force, agents and brokers are the driving force behind the company’s business. They are the point of contact with the end customer and share the company’s vision of bringing innovative insurance solutions to customers' doorsteps.
Direct: The company’s sales force -- sales executives and sales officers – form the company’s backbone and are the most powerful assets behind our growth.
Indirect:
-- Brokers: Insurance broking plays a vital role in distribution of insurance solutions. Through this channel, we plan to reach out to a wider customer base to increase our market share. Customers look forward to insurance brokers for expert advice on customized insurance solutions. -- Agents: Agents are the face of the company and are critical to company’s growth. The company has individual and corporate as its agent.
Online: ICICI Lombard has developed a web-based system to meet all the pre- and post-policy transaction and MIS needs of its customers. The online initiative supports online policy sales, which is directly linked to our payment gateway server for online payments. The company uses the web integration process with its channel partners to streamline its sales process, increase revenues and reduce costs, delays and buyer dissatisfaction.
The main features of Online Insurance are:
Do It Yourself architecture
Fast, convenient and easy
Buy / renew policies
24\7 access to all your policy details
Regular premium renewal reminders
Single view of all insurance policies held by an ndividual
Online Manager: A tool to manage your entire insurance portfolio
Instant issuance of digitally signed policies
Most advanced technology and state-of-the art infrastructure
Online claim intimation and status-tracking
Bancassurance Bancassurance channel has been successfully deployed internationally to distribute insurance products. ICICI Lombard is the only company with a dedicated bancasurance distribution channel servicing over 50 locations through a dedicated team of product managers, sales managers and sales executives.
Tele Sales: Telesales channel is being used effectively by ICICI Lombard to sell, cross sell and up-sell various products and services to customers. It is specially suited to shorten sales cycle, increase revenues and profitability. The channel taps customers through direct sales, institutional and relationship sales, transactional sales, segment/account specific targeted sales, event-based activities, ongoing communication to build trust and generate repeat purchase and tele-servicing.
The main role of tele sales is :
As leads routers
As leads convertor
As service support to Agency and other Sales Force
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