Competition among the
insurance companies
in the city has tightened up with one trying to get more customers than the other via their public relation and communication skills.
Almost all the major players in the insurance market are trying to ground themselves in the city and as far as getting customers is concerned, these companies usually opt for a strategy which somehow correlates to the saying-“I always get my man” either by knocking at people’s door with offers or pushing tons of attractive rewards which at the end of the day turns out to be just one of the various ways to get people registered with them.
The similar procedure adopted by a particular insurance company had recently irked many people in the city, especially parents who complained that the company offered rewards to their children after winning a painting competition in school. But somehow the reward turned out to be an offer to register with the company which according to the ignorant parents was ‘heights of pushing things around.’ “I cannot believe that they would go to the extent of fooling the children promising big fancy rewards which in turn is some insurance offer. I know that they are doing their jobs but playing with a child’s emotion is very wrong”, a disappointed parent said.
The annoyed parent also stated that the company would simply not give up on anything. “They would keep on calling, twice or thrice a day”, he added.
There are no doubts that these companies which have flourished in the city have helped many people but forcing something down people’s throat is not a good idea especially when it comes to promising something and delivering something else.
Like Arthur Levitt, a champion of the individual investor rightly mentioned that “Firms need to ensure that their ability to provide effective customer service keeps pace with their growth. If you’re marketing your firm to new customers, you better be able to provide them service when they do business with you”. So it goes….better service, better market. However, with companies aiming for larger profits every quarter, things have taken an ugly turn. “We have our targets to meet, even if it means bothering people with that extra call,” said an insurance agent who did not want to be named.
There is no denying the fact that in the recent past, Shillong has witnessed some companies which claimed to be financial institutes working for the welfare of the people but tore into people’s pockets instead for their own benefit.
For example, the so called National Self Employment Mission (NSEM) which has been offering people better interests if they agree to invest with them. But later everything turned out to be a sham. A government official source stated that the NSEM was not at all related to the government as claimed by the organization. “It has managed to fool many people, especially the rural populace, who had fallen prey to the tricks”, the source said.
The only apparent solution to this problem lies with th customers who have to be extra careful before they sign up for an investment/insurance the next time. The concerned authorities can also work on strategies and get feedback from the people from time to time to keep things in check.
(By Ibankyntiew Mawrie)