Need for Training Sales Personnel in Insurance Organizations
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Case Code: INS032 Case Length: 03 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available |
Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: - |
Abstract Case Intro
Kurt Miami (Miami), the CMD of Pleasant Insurance Company, was troubled by the current crisis facing his company. The company has shot into fame because it is one of the first insurance companies to offer customized insurance products. One of the strengths of the company is its underwriting department. The company has excellent underwriting professionals who assess and underwrite a variety of risks at attractive premiums.
In a quarterly meeting of the company James Nickle (Nickle), vice president (Marketing), announced that there was a drop in the number of insurance policies sold in the previous quarter.
"I don't think you need to worry too much. It could be due to seasonal factors," said Miami. "If that is the case, then let us observe the sales in the coming quarter as well, and then reach a conclusion," said Nickle. After discussing other vital issues, they concluded the meeting.
There was a drop in sales in the next quarter, too. This time Miami was truly worried. "Have you analyzed the reasons for the drop in our sales this time?" Miami asked Nickle. "Yes. I have done an analysis of the sales in the last two quarters as well as the sales for this quarter. However, I am unable to identify the exact reason for the drop in sales. I think it requires an in-depth analysis, which may require some more time," replied Nickle...
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