Question

Why can't an insurance company maximize profit by offering an info session on the top floor of a walk up building?

Answer 1

Ans.

The significance of insurance in everyone’s life is without a doubt extending. All phases in the lives of people, their close families and their family members need insurance.
This questions talks about the insurance companies increasing theirnprofis by increasing the awareness about insurance. It is true People need to be furnished with the necessary information to be more aware of the risks they are carrying without insurnnce, how they can secure the future of their families when they are not there and all of this can help the insurance companies to increase their profits.
Insurance companies need to share information about their product and information on insurance items and markets. Usually the training and awareness sessions are done for the agents and intermediaries. And for long this business has been like products have been pushed to customers without them being aware of the complete information of the products they are buying.
The potential purchasers and policyholders can be given a superior comprehension of monetary items and components all in all. Nonetheless, the intricacy of insurance items and decent variety of suppliers, along with the fundamental jobs of insurance, are adequate purposes behind investigating how well different classes of residents really get them and for better assessing potential needs in this regard.
Insurance companies can help the peole to understand the financial and insurance products in simple way , given the large no of people are not financially savvy . Also they can improve the peole’s understanding of ones risk profile and help them assess the adequeate coverage to cover their risk profile. THis will help all insurance companies to improve the penetration and increase profits.