Summary |
External environment would shape the industry policy framework, the puissance of the business systems will determine the positioning of the company. Incumbents and entrants will need to focus on building business systems on the platform of creativity to help effectively navigate the uncertain seas of external and internal environment. The portents of the emerging trends suggest that the insurance industry, in particular the life insurance industry, would eventually move from mere risk mitigation to NET WEALTH MANAGEMENT. This would transform the conceptual framework, practices’ model and principles of customer relationship management. The Indian insurance industry would offer immense opportunities for growth and profit. The winners would be the managers operating with a dynamic decision-making model mounted on the matrix of collaborative organisational chassis designed in the mosaic of a confederation of entrepreneurs.
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