1

MARKETING STRATEGIES OF LIC IN KERALA

(Interview Schedule for survey among the Life insurance agents of LIC in Kerala)
SECTION I
GENERAL INFORMATION (DEMOGRAPHIC & PERSONAL DATA)

1. Name:
2. Gender: 1) Male 2) Female
3. Age (in completed years)

4. Place of Residence 1).Rural 2).Urban

5. Education: 1) SSLC 2) PDC/+2 3) Degree 4) Post Graduate 5) Others

6. Marital Status: 1) Married 2) Unmarried

7. Monthly income (self): 1) Less than/equal to 5000 2) 5001-10000 3) 10001-15000

4)15001-20000 5) 20001-25000 6) above 25000

8. Nature of agency: 1) Agent Under Development Officer 2) Direct Agent

9 Division Office: …………………………………. 10 Branch Office:…………………………………..
11. Working experience as LIC Agent (years):
1) Less than/equal 5 years 2) 6-10years 3) 11-15 years 4) 16-20 years 5) more than 20 years
12. Please specify the nature of membership

1. Non Club Member 2. Branch Manager Club 3. Divisional Manager Club 4. Zonal Manager Club

5. Chairman’s Club 6. Distinguished Agents Club 7. MDRT Club

SECTION II
BUSINESS/AGENCY PROFILE

13. Number of life insurance policies sold on an average (of LIC India) in a year:

1) Less than/equal to 50; 2) 51-100 ;3) 101-150 ;4)151-200 ;5) 201 and above

14. Sum assured of all Life insurance policies sold on an average (of LIC India) in a year :

1) Less than/equal to 50 lakhs; 2) 51-100 lakhs; 3) 101-150 lakhs; 4) 151-200 lakhs; 5) above 200 lakhs

(Question13 and 14: take average for last 3 years)

15. What percentage of policies is approximately sold in Rural & Urban Areas ?
Area RURAL URBAN TOTAL

% of Life policies sold 100%

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16. Please Rank your clients/policyholders based on their occupational status (Example: Suppose You
have 100 customers; out of this 30 are Daily wage earners,20 salaried, 25 farmers,7 business men,15
NRI,2 Professionals,1 pensioner:- GIVE RANKS AS (1-3-2-5-4-6-7-8)
SN Occupational category Rank
1 Daily wage earners
2 Salaried employees(Govt & Private service)
3 Agriculturists/Farmers
4 Business/ self employed
5 NRI/Foreign Employed
6 Professionals (Advocates, Chartered Accountants, Doctors etc)
7 Pensioners

17. Please RANK types of policies among different categories of Policyholder groups.(i.e. each category
of people may like certain policies more than other policies , give rank 1 to the most liked policy , rank2
to the next and so on )

Market segment

Agriculturists

Professionals
NRI/Foreign

(Advocates,

Pensioners
Employees
Daily wage

Business /

employed

Employed
/Farmers
Salaried

Service)
(Govt &
Earners

private

Types of

etc)
self
Life Insurance
Policy
(1) (2) (3) (4) (5) (6) (7)
17.1.Whole life policy
17.2.Endowment policy
17.3.Money Back policy
17.4.Medical/health policy
17.5.Term policy
17.6.Pension plans
17.7.ULIPs
17.8.Children plans
17.9.Jeevan Anand (1&2)
17.10.Jeevan Tarang(1&3)
17.11.Micro insurance plans
17.12.Other Plans

18. Please Rank the motivation behind taking up the job of life insurance agency
SN Motive behind agency ship Rank
1 As a means of livelihood
2 To supplement personal/family income
3 As a kind of social service
4 Success stories of LIC agents
5 Others
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SECTION III
AGENTS’ PERCEPTIONS ON LIFE INSURANCY AGENCY AS A PROFESSION
19. Please circle appropriate number based on your perception on life insurance agency as a profession
JOB STATUS (JST) ( 5=STRONGLY AGREE; 4=AGREE; 3=NEUTRAL; 2=DISAGREE; 1=STRONGLY DISAGREE)
19.1 Life insurance agency enhances my individual image in society 5 4 3 2 1
19.2 General public sees me with dignity as I am in the profession 5 4 3 2 1
19.3 I get respect and consideration as life insurance agent 5 4 3 2 1
19.4 Being part of LIC, the goodwill of organisation gives me better status 5 4 3 2 1
WORK LOAD (WL)
19.5 It is very easy to attain the sales target norms of management 5 4 3 2 1
19.6 Ensuring continued renewal premium payment makes the job heavy 5 4 3 2 1
19.7 Maintaining up-to-date records of customers is not at all a task to me 5 4 3 2 1
19.8 Creating a new customer is not a difficult job in marketing life insurance 5 4 3 2 1
INTERACTION WITH BRANCH MANAGERS/DEVEOPMENT OFFICERS (IBMDO)
19.9 The interaction with BMs/DOs enhances my knowledge and confidence 5 4 3 2 1
19.10 There is better service relationship among office and field staff 5 4 3 2 1
19.11 The interaction with supporting staff makes the job easy and tension- free 5 4 3 2 1
19.12 The supporting staff assist the agents in capturing policy 5 4 3 2 1
SALES PROMOTION CAMPAIGNS(SPCs)
19.13 The SPCs are helpful in enhancing sale of policies 5 4 3 2 1
19.14 Knowledge on sales techniques is effectively conveyed in the SPCs 5 4 3 2 1
19.15 The duration and timing of SPCs is supportive in marketing efforts 5 4 3 2 1
19.16 The SPCs are to be reoriented to make them more effective 5 4 3 2 1
TRAINING PROGRAMMES (TP)
19.17 The TPs of LIC are more effective than those offered to private agents 5 4 3 2 1
19.18 The training programmes are conducted at regular intervals/relevant areas 5 4 3 2 1
19.19 The training materials given are updated and supportive to marketing 5 4 3 2 1
19.20 The TPs enrich theoretical and practical aspects of marketing 5 4 3 2 1
JOB SATISFACTION (JS)
19.21 I am satisfied with the profession as it is rewarding the effort 5 4 3 2 1
19.22 The interaction with higher authorities & key customers is worthwhile to me 5 4 3 2 1
19.23 The negative approach of people to agents compels to seek other jobs 5 4 3 2 1
19.24 The need of high level of social interaction makes the job unattractive 5 4 3 2 1

20. Please state your LEVEL OF SATISFACTION ON THE FOLLOWING AREAS OF TRAINING given by LIC
SN TRAINING AREA (5=VERY HIGH; 4=HIGH; 3=AVERAGE;2=LOW; 1=VERY LOW)
20.1 Methods of planning work, ordering work 5 4 3 2 1
20.2 Product knowledge 5 4 3 2 1
20.3 Sales techniques/Psychology 5 4 3 2 1
20.4 Inter personal relationship/ Communication skills 5 4 3 2 1
20.5 Right attitude towards the Profession 5 4 3 2 1
20.6 Upkeeping records / Legal requirements 5 4 3 2 1
20.7 Handling objections 5 4 3 2 1
20.8 Pre –post sales services 5 4 3 2 1
20.9 Ethics in marketing services 5 4 3 2 1
20.10 Others 5 4 3 2 1
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SECTION IV
PROBLEMS IN MARKETING LIFE INSURANCE
21. Please indicate the problems/difficulties faced by you in marketing life insurance products. Mark
your opinion on a 5 Point Scale 1.Very High 2.High 3.Medium 4.Low 5.Very Low
PROBLEMS RELATED TO RURAL AREA URBAN AREA
PREMIUM (PRPR)
21.1 Undue Delay/failure in premium payment 1 2 3 4 5 1 2 3 4 5
21.2 Demand for lower premium 1 2 3 4 5 1 2 3 4 5
21.3 Demand for rebates to purchase life policies 1 2 3 4 5 1 2 3 4 5
CUSTOMER PERCEPTION/ATTITUDE/INTEREST/KNOWLEDGE (PRCPAIK)
21.4 I want more features in insurance policies
21.5 Incorrect perception of customers on insurance 1 2 3 4 5 1 2 3 4 5
21.6 Lack of awareness on insurance & its benefits
21.7 No interest in the long term investment 1 2 3 4 5 1 2 3 4 5
21.8 I consider buying insurance as waste of money 1 2 3 4 5 1 2 3 4 5
21.9 Lack of interest to go for medical examinations 1 2 3 4 5 1 2 3 4 5
21.10 Lack of confidence from the part of customers 1 2 3 4 5 1 2 3 4 5
CUSTOMER APPROACH (PRCA)
21.11 Don’t approach at proper time for servicing 1 2 3 4 5 1 2 3 4 5
21.12 Delay in submitting required documents in time 1 2 3 4 5 1 2 3 4 5
21.13 Policyholders generally avoid insurance salesman 1 2 3 4 5 1 2 3 4 5
21.14 Customers’ lack of interest in insurance 1 2 3 4 5 1 2 3 4 5
21.15 Defensive approach of customers’ on call
CUSTOMER FINANCIAL STATUS (PRCFS)
21.16 Improper financial planning of policyholders 1 2 3 4 5 1 2 3 4 5
21.17 Poor financial status of customers 1 2 3 4 5 1 2 3 4 5
MANAGEMENT PRACTICES OF LIC (PRMPLIC)
21.18 Pressuring to achieve higher targets 1 2 3 4 5 1 2 3 4 5
21.19 Delay in payment of commission 1 2 3 4 5 1 2 3 4 5
21.20 Encourage benami/casual agents 1 2 3 4 5 1 2 3 4 5
21.21 Concentrate on business target & not service quality 1 2 3 4 5 1 2 3 4 5
21.22 Low return on LIC policies 1 2 3 4 5 1 2 3 4 5
SERVICE FACILITIES (PRSF)
21.23 Inadequate facilities at office/service counters 1 2 3 4 5 1 2 3 4 5
21.24 Lack of innovative products/need- based products 1 2 3 4 5 1 2 3 4 5
21.25 Lack of initiatives for customer education 1 2 3 4 5 1 2 3 4 5
21.26 Poor services through internet/IT/Online 1 2 3 4 5 1 2 3 4 5
ATTITUDE OF OFFICIALS (PRAO)
21.27 Procedural delay from LIC 1 2 3 4 5 1 2 3 4 5
21.28 Inattentive towards suggestion of ideas 1 2 3 4 5 1 2 3 4 5
21.29 Careless and negligent attitude towards field staff 1 2 3 4 5 1 2 3 4 5
21.30 Non cooperative approach from BM/DO 1 2 3 4 5 1 2 3 4 5
21.31 Negligent attitude towards service enquiries 1 2 3 4 5 1 2 3 4 5
UNHEALTHY/UNETHICAL MARKET PRACTICES (UHEMPAA)
21.32 Unhealthy practices in market 1 2 3 4 5 1 2 3 4 5
21.33 Unethical Interference of agents in the business 1 2 3 4 5 1 2 3 4 5
21.34 Inter-rivalry between agents 1 2 3 4 5 1 2 3 4 5
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SECTION V
AGENTS’ EXPERIENCE ON THEIR DUTIES,TASKS,ACTIVITIES,SKILLS,ABILITIES &KNOWLEDGE IN
MARKETING LIFE INSURANCE PRODUCTS AND SERVICES
22. the following table illustrates the various duties, tasks, activities undertaken by LIC agents and skills,
abilities and knowledge that an agent should possess in marketing Life Insurance products. Circle
appropriate score .( 5=STRONGLY AGREE; 4=AGREE; 3=NEUTRAL; 2=DISAGREE; 1=STRONGLY DISAGREE)

SN DUTIES, TASKS AND ACTIVITIES

22.1 Calling on and getting attention of prospective customers is very easy 5 4 3 2 1
22.2 Identification of best insurance programme to customers is easy to me 5 4 3 2 1
22.3 Obtaining data on the financial resources and needs of Customers is easy 5 4 3 2 1
22.4 Ensuring fulfilment of policy requirements /medical examinations is simple 5 4 3 2 1
22.5 Attend meetings, seminars to enrich knowledge in marketing insurance 5 4 3 2 1
22.6 I don’t feel confident in communicating with superiors-peers 5 4 3 2 1
22.7 Identification of opportunities in the environment is easy for me 5 4 3 2 1
22.8 Influencing or convincing customers in the selling process is easy to me 5 4 3 2 1
22.9 Handle complaints and resolve grievances with patience 5 4 3 2 1
22.10 Representing the organisation to customers and the public is easy for me 5 4 3 2 1
22.11 I feel it very difficult to keep up-to-date and apply new knowledge in job 5 4 3 2 1
22.12 Educating the customers on the various aspects of insurance is very easy 5 4 3 2 1
SKILLS AND ABILITIES------As a life insurance agent I can /am
22.13 Listen well to the needs of customers and superior officers 5 4 3 2 1
22.14 Manage ones’ own time and the time of others, customers and superiors 5 4 3 2 1
22.15 Use simple mathematics to solve problems 5 4 3 2 1
22.16 Use training/instructional resources in enhancing sale of policies 5 4 3 2 1
22.17 Monitor the performance of Self and organisation to make improvements 5 4 3 2 1
22.18 Understand things if you were the person experiencing it 5 4 3 2 1
22.19 Learn from the opinions and views and experience of others 5 4 3 2 1
22.20 Faithful and pass genuine and correct information to customers 5 4 3 2 1
22.21 Confident in own abilities ,knowledge and attitude towards profession 5 4 3 2 1
22.22 Work with colleagues, superiors as a team to achieve common goal 5 4 3 2 1
22.23 Have sincere desire for the things I want most in my career 5 4 3 2 1
22.24 Cope with latest trends in the market place as to selling techniques etc 5 4 3 2 1
22.25 Follow honourable standards of ethics and professionalism in job 5 4 3 2 1
KNOWLEDGE ON PRODUCT /SERVICE RELATED ASPECTS
22.26 Make the customer understand the Product features 5 4 3 2 1
22.27 Explain well Product benefits i.e. how they relate to the customer 5 4 3 2 1
22.28 Convince Product performance-how the product satisfies customers’ needs 5 4 3 2 1
22.29 Effectively Convey Product structure-terms and limits of what is covered & not 5 4 3 2 1
22.30 Clarify doubts on Product price i.e., by comparing with the competitors 5 4 3 2 1
22.31 Understand the present state of industry i.e. changes in the insurance field 5 4 3 2 1
22.32 Use the knowledge of marketing principles to give customer personal services 5 4 3 2 1
22.33 Use the knowledge of principles and methods of selling, promoting products 5 4 3 2 1
22.34 Use the Knowledge of administrative and clerical procedures in service 5 4 3 2 1
22.35 Use the Knowledge of basics of IT and its applications in selling service 5 4 3 2 1
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SECTION VI

AGENTS’ PERCEPTION ON PROMOTIONAL STRATEGIES OF LIFE INSURANCE CORPORATION OF INDIA

23. In your opinion, which of the following media used by LIC in creating awareness and effecting sales
in the process of marketing life insurance products is effective? Give scores in between 7 to 1.

( 7=EXCELLENT 6=VERY GOOD 5=GOOD 4=AVERAGE 3= SATISFACTORY 2= POOR 1=VERY POOR)

RURAL AREA (1) URBAN AREA (2)

SN Media/Means 7 6 5 4 3 2 1 7 6 5 4 3 2 1
23.1 T v advertisements
23.2 Radio advertisements including FM Radio
23.3 Advertisements in magazines/journals
23.4 Film Advertisements
23.5 Posters/ banners/sign boards/hoardings
23.6 Pamphlets/leaflets/brochures
23.7 Internet/web advertising
23.8 Direct mail/E mail
23.9 Word of mouth
23.10 Sponsorships of plays and events
23.11 Newspaper advertisements
23.12 Social camps organized (eye test etc)
23.13 Calendars/Diaries
23.14 Wall paintings
23.15 Paper inserts/ Bound inserts in Books
23.16 Brand ambassador/celebrity endorsement
23.17 Trans –slides/ electric display
23.18 Information kiosks
23.19 Customer contact programme
23.20 Taxi cab advertising(back panel of seats etc)

24. Please Rank the major reasons for the message of advertisements not reaching to the customers
effectively .

SN REASON FOR INEFFECTIVENESS RANK

1 Wrong selection of media for advertisement
2 Inappropriate timing of advertisement
3 Deficiencies in working of publicity staff
4 Emphasis is not given to regional languages
5 Inadequate usage of mass media (like TV, Radio etc)
6 Improper Theme/message of advertisement
7 Layout of advertisement is not attractive
8 Improper Language of advertisement
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25. Please rate how far the promotional programmes/activities/strategies undertaken by LIC in
marketing life insurance products and services are effective in achieving the promotional objectives
listed below. Assign a score in between 7 to 1( 7=highly effective ,6=effective,5=moderately effective,
4=neutral, 3= moderately ineffective, 2=ineffective, 1=highly ineffective)

SN PROMOTIONAL OBJECTIVES Score

1 Increase brand awareness
2 Enhance product knowledge
3 Improve company image/ reputation in the financial community
4 Improve brand image
5 Increase brand preference
6 Build customer loyalty
7 Capitalize new market opportunities
8 Stimulation of search behaviour
9 Increase brand trail purchase and repurchase behaviour
10 Increase voluntary promotion by customers of brand

SECTION VII
AGENTS’ PERCEPTION ON THE STRATEGIES OF LIC IN RELATION TO MARKETING MIX ELEMENTS AND
RESOURCES, ACTIVITIES AND PROGRAMMES AS TO MARKETING STRATEGY IMPLEMENTATION

26. Please rate your perceptions on the strategies followed as to marketing mix elements in the
marketing of insurance products and services by LIC. (7=Strongly Agree; 6=Agree; 5=Some What Agree ;
4=Neutral; 3=Some What Disagree; 2=Disagree; 1=Strongly Disagree)

SN MARKETING MIX STRATEGIES 7 6 5 4 3 2 1

PRODUCT STARTEGIES
26.1 LIC offers a variety Product mix to policyholders 7 6 5 4 3 2 1
26.2 LIC offers policies with better range in sum assured (min & max) 7 6 5 4 3 2 1
26.3 LIC offers Riders, Bonus etc with almost all Life insurance products 7 6 5 4 3 2 1
26.4 Life policies of LIC assures guarantee loyalty addition 7 6 5 4 3 2 1
26.5 LIC offers Loan facility on almost all life policies 7 6 5 4 3 2 1
PRICING STRATEGIES
26.6 LIC offers reasonable First year commission on policies 7 6 5 4 3 2 1
26.7 LIC offers attractive Renewal commission on life insurance policies 7 6 5 4 3 2 1
26.8 LIC charges reasonable/ competitive price on products and services 7 6 5 4 3 2 1
26.9 Offers flexible periods for premium payment(monthly, quarterly etc) 7 6 5 4 3 2 1
26.10 Provides multiple means for premium payment( office, agents etc) 7 6 5 4 3 2 1
26.11 LIC uses modern means of premium payment as internet etc 7 6 5 4 3 2 1
PROMOTIONAL STRATEGIES
26.12 The promotional measures of LIC are affective/emotive 7 6 5 4 3 2 1
26.13 LIC never undertakes unbelievable/ exaggerated advertisements 7 6 5 4 3 2 1
26.14 LIC opts for popular media in relevant geographical areas 7 6 5 4 3 2 1
26.15 Advertisement of LIC support agents in selling policies 7 6 5 4 3 2 1
26.16 Media, theme layout and language are effectively used in 7 6 5 4 3 2 1
advertisement to attract the attention of customers
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DISTRIBUTION CHANNEL STRATEGIES

26.17 LIC is vigilant in using technology in delivering products and services 7 6 5 4 3 2 1
26.18 The branches of LIC are located in convenient /easily reachable spots 7 6 5 4 3 2 1
26.19 LIC cautiously uses suitable channels in distribution of insurance products 7 6 5 4 3 2 1
26.20 LIC ensures that its distribution channels have distinct quality 7 6 5 4 3 2 1
PEOPLE SERVICE STRATEGIES
26.21 LIC makes use of staff knowledge and experience in servicing customers 7 6 5 4 3 2 1
26.22 LIC ensures professionalism in rendering service to policyholders 7 6 5 4 3 2 1
26.23 Dos/BMs are well trained to guide the agents in selling activities 7 6 5 4 3 2 1
26.24 LIC ensures active support of Dos/BMs to agents in insurance marketing 7 6 5 4 3 2 1
26.25 LIC ensures efficient & supportive office staff in rendering better service 7 6 5 4 3 2 1
26.26 LIC encourages agents to suggest their views on organizational 7 6 5 4 3 2 1
functioning and performance
26.27 LIC offers satisfactory performance- oriented incentives to agents 7 6 5 4 3 2 1
26.28 LIC ensures an effective grievance redressal system for agents 7 6 5 4 3 2 1
26.29 LIC arranges Special Training programmes to update agents’ skill/ 7 6 5 4 3 2 1
knowledge in selling insurance products and services
26.30 LIC emphasizes training in special marketing strategies / modern 7 6 5 4 3 2 1
sales techniques that enhance agents’ performance
26.31 LIC arranges periodical refresher courses for agents at branch level 7 6 5 4 3 2 1
for the effective implementation of marketing strategies
PHYSICAL EVIDENCE/ FACILITIES STRATEGIES
26.32 LIC offers convenient Parking facility at branch offices 7 6 5 4 3 2 1
26.33 LIC ensures availability of Drinking water & sanitary facilities at Branches 7 6 5 4 3 2 1
26.34 LIC maintains comfortable Physical layout of premises & furnishings 7 6 5 4 3 2 1
26.35 LIC offers convenient Operating hours and days at branch Offices 7 6 5 4 3 2 1
26.36 LIC keeps the design of policies and brochures of LIC attractive 7 6 5 4 3 2 1
PROCESS STARTEGIES
26.37 LIC provides latest information to its stakeholders regularly 7 6 5 4 3 2 1
26.38 LIC follows improved service strategy compared to competitors 7 6 5 4 3 2 1
26.39 LIC ensures speedy documentation and processes at the time of 7 6 5 4 3 2 1
issue of policies and settlement of claims
26.40 Ensures efficient customer service through internet /website 7 6 5 4 3 2 1
26.41 Provides Quick services through Computerized information system 7 6 5 4 3 2 1
26.42 LIC emphasizes service quality rather than volume of sale(policies) 7 6 5 4 3 2 1
26.43 LIC promotes ethical conduct in everything it does 7 6 5 4 3 2 1
RESOURCES, ACTIVITIES & PROGRAMMES AS TO IMPLEMENTATION OF MARKETING STRATEGY
MARKETING RESOURCES AND CAPABILITIES
26.44 LIC Invests in improving customer service and service quality 7 6 5 4 3 2 1
26.45 LIC Invests in developing and introducing new insurance services 7 6 5 4 3 2 1
26.46 LIC is cautious towards Investments in building strong brand image 7 6 5 4 3 2 1
26.47 LIC invests in promotion and customer education 7 6 5 4 3 2 1
26.48 LIC Invests in improving distribution channels of insurance services 7 6 5 4 3 2 1
26.49 LIC invests in leveraging peoples’ skills ,capabilities and knowledge 7 6 5 4 3 2 1
26.50 LIC possesses and is committed in building technological abilities 7 6 5 4 3 2 1
26.51 LIC has distinct reputation derived through its insurance service quality 7 6 5 4 3 2 1
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26.52 LIC follows distinctive insurance service delivery process activities 7 6 5 4 3 2 1

26.53 Capabilities of the LIC to develop and manage integrated marketing 7 6 5 4 3 2 1
programmes are better than those of competitors
26.54 LIC possesses Insurance pricing capabilities such as pricing below 7 6 5 4 3 2 1
competitors ,creativity and flexibility in the pricing approaches
26.55 LIC has the advantage of distinctive marketing communication 7 6 5 4 3 2 1
capabilities e.g., distinctive advertising, good word of mouth etc
26.56 LIC has distinct insurance distribution capabilities 7 6 5 4 3 2 1
26.57 Marketing specialists of LIC have distinct capabilities 7 6 5 4 3 2 1
26.58 LIC has superior financial & human resource capabilities compared 7 6 5 4 3 2 1
to others
26.59 LIC builds capabilities through understanding customer needs & wants 7 6 5 4 3 2 1
26.60 LICI has the distinctive ability of creating ,sustaining and enhancing 7 6 5 4 3 2 1
relationship with the organizations’ customers, intermediaries etc
MARKETING RESOURCE COMMITMENT ACTIVITIES
26.61 LICI allocates the right kind of resources for marketing strategy 7 6 5 4 3 2 1
implementation efforts
26.62 LIC implements marketing strategies within a certain deadline 7 6 5 4 3 2 1
26.63 LIC allocates adequate resources for marketing strategy implementation 7 6 5 4 3 2 1
26.64LICI is committed to supportive top management in providing 7 6 5 4 3 2 1
resources for marketing strategy implementation efforts
MARKETING CONSENSUS ACTIVITIES
26.65 There is consensus among the marketing strategy implementation members 7 6 5 4 3 2 1
26.66 LIC ensures support of all parties in successful strategy implementation 7 6 5 4 3 2 1
26.67 Managers are committed to work with the organisation 7 6 5 4 3 2 1
26.68 Members of strategy implementation team feel as part of a team 7 6 5 4 3 2 1
26.69 Marketing strategy implementation members spend extra efforts 7 6 5 4 3 2 1
beyond the normally expected level in order to make it successful
26.70 Strategy members share their feelings as to the appropriateness of 7 6 5 4 3 2 1
the strategy goals and objectives
26.71 Managers and employees are well committed to perform their roles 7 6 5 4 3 2 1
regardless of their beliefs about the overall strategy
CROSS FUNCTIONAL INTEGRATION ACTIVITIES
26.72 Marketing department and main business are well integrated in 7 6 5 4 3 2 1
strategy implementation
26.73 Responsibilities as to implementation of marketing strategy are 7 6 5 4 3 2 1
shared between marketing department and other departments
26.74 Managers and staff of marketing strategy implementation have the 7 6 5 4 3 2 1
necessary interaction skills ,capabilities and knowledge
26.75 Managers and staff are motivated to carry out the marketing strategy 7 6 5 4 3 2 1
26.76 LIC ensures continuous coordination among the members of the 7 6 5 4 3 2 1
marketing strategy implementation team
MARKETING EXPERIENCE ELEMENTS
26.77 LIC has experience in coordinating marketing strategy activities 7 6 5 4 3 2 1
26.78 LIC has necessary experience and knowledge to facilitate the 7 6 5 4 3 2 1
marketing strategy implementation
26.79 The organisation has experience in developing and managing the 7 6 5 4 3 2 1
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marketing function areas e.g., quality, pricing, promotion etc

26.80 The marketing department has the experience in allocating marketing 7 6 5 4 3 2 1
resources in terms of time, people, efforts, and money
26.81 LIC has experience in practising marketing as a business philosophy 7 6 5 4 3 2 1
26.82 The company’s top management has marketing background and 7 6 5 4 3 2 1
knowledge to facilitate marketing strategy implementation
MARKETING COMMUNICATION QUALITY ACTIVITIES
26.83 There is continuous interaction among the key players involved in 7 6 5 4 3 2 1
strategy implementation
26.84 The strategy objectives and goals are well communicated to all 7 6 5 4 3 2 1
concerned parties
26.85 There is open communication within the strategy implementation team 7 6 5 4 3 2 1
26.86 There is extensive formal and informal communication during 7 6 5 4 3 2 1
marketing strategy implementation
26.87 There is continuous evaluation of feedback and performance of 7 6 5 4 3 2 1
marketing strategy activities

27. The followings statements intend to measure your PERCEPTION ON THE PERFORMANCE OF LIFE
INSURANCE CORPORATION OF INDIA. Please give scoreS 7 to 1. (7=strongly agee;6=agree;
5=somewhat agree;4=neutral;3=somewhat disagree;2=disagree and 1=strongly disagree)
SN Performance measures Score
MARKET SHARE
27.1 LIC enjoys highly satisfactory market share in the insurance market
27.2 The growth rate in market share of LIC is promising
27.3 The market share of competitors in comparison to LIC is negligible
27.4 The proportion of sales volume of LIC to the total market sales volume is high
RETURN ON INVESTMENT
27.5 The overall profitability growth of LIC is appreciable
27.6 LIC offers high return on investment
27.7 The Return On Investment of LIC in comparison to competitors is remarkable
27.8 The growth rate of ROI of LIC is appreciable
SALES GROWTH
27.9 Insurance sales volume growth rate of LIC is satisfactory
27.10 Insurance sales volume growth rate is high relative to competitors
27.11 The insurance sales volume of LIC has never fallen drastically
27.12 The insurance sales volume of LIC is commendable
CUSTOMER RETENTION
27.13 LIC enjoys better customer retention rate in the market
27.14 The growth rate in number of policies sold(new business) is satisfactory
27.15 The rate of customer migration from LIC to the competitors’ firms is negligible
27.16 There is substantial hike in the growth of customers who need further policy from LIC
CORPORATE IMAGE
27.17 Customers are highly satisfied with the services of LIC
27.18 Customer loyalty on LIC shows a positive trend
27.19 LIC enjoys prestigious status/image/reputation in the competitive market place
27.20 The number of customer complaints on service is low
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SECTION VIII

AGENTS APPROACHES AND PRACTICES IN HANDLING CUSTOMER OBJECTIONS IN MARKETING LIFE

INSURANCE PRODUCTS AND SERVICES

28. While selling a life insurance policy customers/potential customers may raise some objections.
Please state which forms of objection regularly come from customers. Mark your opinion on a 5 Point
Scale 1.Very High 2.High 3.Medium 4.Low 5.Very Low.

SN Objection category 1 2 3 4 5
28.1 Objection as to product/LIC policies/Policy term etc-PRODUCT
28.2 Objection as to sales person/Agent-PERSON
28.3 Objection as to company i.e. LIC/DIVISION/BRANCH –PLACE
28.4 Objection as to service rendered by Office staff-PROCESS
28.5 Objection as to Price/premium Charged –PRICE
28.6 Objection as to advertisements ( exaggerated ads etc)-PROMOTION
28.7 Objections as to services available at LIC Office-PHYSICAL EVIDENCE
28.8 Objection as to return, liquidity etc

29. Please state the method of handling objection raised from customer.

SN Method of handling objection Rank

29.1 Avoid customers raising Objections
29.2 Postpone the answer to the objection raised
29.3 Not answer and excuse the objections
29.4 Disagree with being not agreeable
29.5 Substantiate by bringing customer to the right point

SECTION IX
MARKETING LIFE INSURANCE PRODUCTS AND SERVICES
The section deals with agents’ interaction with customers, customer preference for products, agents’
services and acceptance of product recommendations
30. Rank the following methods you normally adopt to catch a prospect (new policy holder)
SN Method of prospecting Rank
1 Regular visit to the organization
2 Contact through social clubs
3 Through offering personal help
4 Contact through friends and relatives
5 Undertaking socially responsible commitments/political activities
6 Offer to pay initial premium
7 Old customers’ recommendations
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31. Please state the service/s rendered by you to the customer in the course of marketing life insurance
products(5=always ; 4=frequently; 3=occasionally; 2=rarely ;1=never)

SN NATURE OF SERVICE 5 4 3 2 1
31.1 Accurate assessment of insurance needs
31.2 Proper advice on Selection of particular policy/plan/suitable period
31.3 Filling up the insurance forms and applications
31.4 Completing medical examination formalities
31.5 Submission of application and receipt of document in time
31.6 Reminding the premium due dates / collection of premium
31.7 Filing Nomination forms , and effecting alteration in policy
31.8 Transfer and assignment of policy/issue duplicate policy on loss/damage
31.9 Surrender of policy
31.10 Availing Loan on policy, Loan closure and getting back documents
31.11 Revival of policy on becoming lapsed due to default in premium payment
31.12 Filling up Claim forms and ensuring receipt of claims in time
31.13 Information regarding bonus enhancement/policy status
31.14 Grievance settlements/ Clarification of general and technical doubts
31.15 Providing latest information / guidelines at the time of settlement
31.16 Maintenance of customer records/ understanding their needs as per situation

32. What criteria do you normally adopt while recommending a life insurance policy to a customer?
SN Criteria to recommend a policy Rank
1 Needs and desires of customer
2 Wealth and income of customer
3 occupational status of customer
4 Age/education/marriage requirements of customer
5 Rates of commission to an agent

33. Please state the LEVEL OF INFLUENCE of the factors listed below making your career in marketing
life insurance product and services easier. (5=VERY HIGH;4=HIGH;3=AVERAGE;2=LOW;1=VERY LOW)
SN Factors influencing the insurance marketing career easier 5 4 3 2 1
1 Company image
2 Product/Service quality
4 Promotional measures of LIC
5 Efficient office staff
6 Training availed from LIC
7 Availability of efficient grievance settlement mechanism
8 Speedy clearance of settlement of claims, dues etc
9 Higher return from investment in life insurance
10 Cooperative higher authorities