Insurance Services – Insurance Services – Making a DifferenceMaking a Difference

August’07August’07

Current scenario…Current scenario…► As education level rises and cost of medical As education level rises and cost of medical

care goes up, there will be more demand for care goes up, there will be more demand for insuranceinsurance

► There is little difference between the policies There is little difference between the policies offered by most insurance companies, with offered by most insurance companies, with the result that there are weak ‘unique selling the result that there are weak ‘unique selling propositions’ an insurance company offers propositions’ an insurance company offers

► Therefore insurance companies try to seek Therefore insurance companies try to seek business based on price as the key business based on price as the key differentiating factor between policiesdifferentiating factor between policies

Value proposition to Insurance Value proposition to Insurance companycompany

► Providing information is an excellent way of Providing information is an excellent way of positioning yourself as a “caring insurance positioning yourself as a “caring insurance company” and making a differencecompany” and making a difference

► Set up a patient education library at your Set up a patient education library at your premises with the object of having a premises with the object of having a collection of books and CDs related to healthcollection of books and CDs related to health

►Disseminate information on various health Disseminate information on various health related queries through pamphlets and related queries through pamphlets and other sources made available in the libraryother sources made available in the library

► Publicize the library through the company Publicize the library through the company websitewebsite

Importance of a Medical Importance of a Medical LibraryLibrary

► Indian patients are becoming increasingly Indian patients are becoming increasingly articulate – they want more information articulate – they want more information about their medical conditionsabout their medical conditions

►Unfortunately their doctors do not have the Unfortunately their doctors do not have the time to provide them this information in time to provide them this information in detail detail

►A health library empowers people by A health library empowers people by providing them with the information they providing them with the information they need to promote their health, and prevent need to promote their health, and prevent and treat medical problems in the family in and treat medical problems in the family in partnership with their doctor.partnership with their doctor.

Benefits to Insurance Benefits to Insurance CompanyCompany

► As the library will be in the premises of the As the library will be in the premises of the insurance company, readers who have queries insurance company, readers who have queries about a particular illness and how a insurance about a particular illness and how a insurance policy can help them claim the cost of treatment policy can help them claim the cost of treatment can approach the sales personcan approach the sales person

► Insurance agents can recommend people visit the Insurance agents can recommend people visit the library and find out about any health related querieslibrary and find out about any health related queries

► Policy holders can be given the facility to borrow Policy holders can be given the facility to borrow books from the library at reduced or nil chargesbooks from the library at reduced or nil charges

► By providing information it is possible that the By providing information it is possible that the insurance claims can come down as people will be insurance claims can come down as people will be in a better position to do self-diagnosis, avoid in a better position to do self-diagnosis, avoid spending on unnecessary surgeries hence saving spending on unnecessary surgeries hence saving costs of insurance claimscosts of insurance claims

More Benefits….More Benefits….

►You will have access to young (school / You will have access to young (school / college students) audience whom you college students) audience whom you can approach for health policiescan approach for health policies

► It will allow you to differentiate your It will allow you to differentiate your product from your competitors – offer product from your competitors – offer value addition to your customersvalue addition to your customers

►Promoting a social causePromoting a social cause