Understanding the commercial Insurance Industry in India
Case Studies
Client’s Desideratum
A strategic market research and consulting firm, headquartered in Singapore wanted to understand the commercial Insurance Industry in India – how is it divided between Retail and Commercial space, and the common risks insured in the commercial space by corporate clients
Objectives of the Study
The client wanted ExpertsConsult to invite experts who were aware of the current scenario (any new government regulation affecting the premium rates etc.) to learn:
The function of the market and the company. The discussion that included questions like:
- Market Overview Questions: How the recent government regulatory changes affect different insurance segments in terms of pricing flexibility, the number of policies sold, etc.
OR
How the retail and commercial non-life insurance market growth in the past 5 years\and what is the future outlook? - Company Overview Questions: What are the company’s key insurance segments - Marine/Fire/Liability,etc?
OR
Key industries where their corporate clients belong to - say Auto/Electronics/Logistics, etc., what are the common risks insured by the company.
OR
If they have any Japanese corporate clients?
Expectation from ExpertsConsult
For both Brokers and Insurers
1. Finding experts with experience of 10 years and above (in the company or in the industry)
2. Finding experts with knowledge of company corporate clients (including Japanese corporate clients).
3. Finding experts with knowledge of the commercial insurance market in India.
4. Finding experts with knowledge of the company’s business acquisition channels
5. Decision-makers/Mid to high-level management personnel who is knowledgeable in upcoming trends and policy demands in the insurance space.
6. Total Requirement- 7 Interviews
7. Our team were required to invite Insurance professionals across India
ExpertsConsult Solution
- Our team screened valid participants using 3 step validation process:
1. Search and shortlist executives as per the required criteria using internal database and other sources such as LinkedIn, ZoomInfo, D & B Hoovers, etc.
2. Share sample profiles with our client for their approval before screening or inviting them for the final interviews or discussions.
3. Screen executives using water tight screening criteria/questions over the phone and share their profiles along with their responses to the screening questions for our client’s review
Denouement
The team of ExpertsConsult successfully recruited the required participants based on the project requirements.
The team ensured that every screened and shortlisted participant joins the call at the scheduled date and time.
Our team shared daily updates including respondent descriptive profiles for our clients review and reference
The results of the discussion helped our clients gain informative insights on their research topic.