Metlife

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Information about Metlife
Business-Finance

Published on March 27, 2008

Author: Projection

Source: authorstream.com

Sales and Marketing Operations of an Organization:  Sales and Marketing Operations of an Organization Insurance:  Insurance “Defense against Financial Failure; Financial Independence” You need Insurance:  You need Insurance If you need Protection If you need Savings If you need Investment If you care for your beloved Ones If you need Financial Security If Unforeseen even can happen in future Growth In Insurance Market:  Growth In Insurance Market MetLife®:  MetLife® 139 years Legacy of helping build Financial Freedom for all Fortune 500 Company Indian Operation started on April 11th 2001 MetLife India is a result of Joint Venture between MetLife International ,J&K Bank and other investors MetLife®:  MetLife® Contd… Among the Top Five private player in Insurance Sector in India Strong force of 25,000 Financial advisors MetLife in India is headquartered in Bangalore Present in 72 Cities through 90 Offices. In Partnership with many Banks i.e. Barclays, UTI, J&K Bank etc. Management Team:  Management Team Vision & Mission:  Vision & Mission Have you met life today?:  Have you met life today? Have you met life today?:  Have you met life today? ‘Life’ in MetLife to mean more than Life Insurance. It’s about the celebration of life, beginning and the financial freedom that leads to life significance  Product Portfolio:  Product Portfolio Accumulation Policies Retirement Policies Protection Plans Ensure that your obligations are meant in the event of death and Disability. -Met Suraksha -Met Mortgage Retirement Plans Provide additional income to supplement savings. -Met Pension -Met Advantage Plus Accumulation Plans Assist in funding child’s education, Marriages etc :Whole Life :Endowment -Met 100 Multi-Purpose Plans For ever changing needs in life :ULIP -Met Smart Plus -Met Smart Premier Market Share:  Market Share Sales & Marketing Strategies:  Sales & Marketing Strategies Developing a Sound Sales Plan and Management Strategy Developing Strong and Innovative distribution Channel Bancassurance Brand Building Product Development Public Relations and Internal Communication Recruiting Dynamic and High Quality Sales Professional Marketing Tools :  Marketing Tools Tele Marketing - Direct Marketing in which sales person uses telephone to solicit prospective customers to buy product and services. Database Marketing - Analyze customer database and use the results to form future projection that help to improve efficiency and develop new products Bancassurance -Selling of insurance through a bank’s established distribution channels. Penetrating rural market using Bancassurance Medium only Five Key Focus Areas:  Five Key Focus Areas People Product Infrastructure Branding Customer Service SWOT ANALYSIS:  SWOT ANALYSIS Factors for Success:  Factors for Success Strong Parental Support MetLife benefit from parent Company’s Global presence Proven Track Record International Standard of Customer Service Using Technology as Business Enabler Uses a Software Module called AURA which automatically process an insurance proposal and issue the policy. It ensures quick turnaround time and accuracy Factors for Success:  Factors for Success Contd… Using Full Time Agents on Commission basis Agents are Full Time Working on Commission basis Reduce Fixed Cost Major Advertisement Campaign Internet Television and other Audio Mediums Telemarketing Referrals Personalization of Product and Services Penetrating untapped Semi urban and rural market Future Plans:  Future Plans Goal of 5 million customers by 2010 Further Expand operations to Class B and Class C cities and part of rural India Aggressive Growth plans of 100% yoy for next 2-3 years. To capture a market share of 5% in Indian Insurance Sector MetLife International plans to increase its stake in the Indian Subsidiary Thank you:  Thank you

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