Ceylinco Insurance is the leading insurance company and it ranked among top 25 companies in the Sri Lanka. Better understanding of the customer needs and expectations is the main reason behind the success of Ceylinco. In order to expand their customer base and to give better service, the General Division consist with 191 branches and 106 service centres while the Life Division consist with 211 branches. Ceylinco has utilized 8.5 billion rupees as net claims benefits for their customers and it is an increment of 15% compared to the previous year and it confirm their commitment towards their customer base.
In addition to that attribute introduce of innovative products such as Warrant Insurance, Five Benefits Policy, Ceylinco Life Silver Plus
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The brand ‘Ceylinco’ will always represent the protection and financial security of the highest quality to customers, addition to the wealth of shareholders and the recognition, rewarding and valuing of the prestige of their staff.
Innovative products which are produced by Ceylinco helps customers to face successfully to their life matters such as illness, loss of life, loss or damage to property without any fear and they give chance to spend the life with peace of mind. Ceylinco always aim to assure total customer satisfaction, confidence, trust, loyalty, to increase customer base and to retain their position as market Leader in the insurance industry.
Employees who works in Ceylinco enjoy their job security that consist with training programs and it assist them to attain rewards and develop the professional careers. The company aim is to coincide the personal life and professional life of the employees and thereby get the loyalty and the full dedication towards the
• Continual improvement to the quality of its product by offering value-added initiatives such as:
→ high focus on sales/technical knowledge; high customer-centric outlook; flexibility in meeting needs of customer key to success; unique/comprehensive business structure (engineering, manufacturing, and distributing of various filtration products and systems
The convenience that this division offer customers should give the organization a profitable and popularity boost, allow them to expand globally, and make the company a leader in innovation in its industry.
The company’s purpose is to “provide branded products and services of superior quality and value that improve the lives of the world’s consumers now and for generations to come. As a result, consumers will reward us with leadership sales, profit and value creations, allowing our people, our
Finally, there should be emphasis on innovation, for example, the development of new goods and services. As per the current situation, the company has a lot on ongoing projects with some nearing completion like Accurate Financial. A mobile phone application is also being developed to be used by the company on prospective customers.
It only focus on high end and performance market segment initially, so R&D, marketing activities are more effective than other companies with its competitive advantage in High-Tech product.
In the words of the erstwhile Finance Minister, Morarji Desai: Whereas Life Insurance Corporation will always bear in mind that its primary obligation is to its policy holders whose money it holds in trust, and will never lose sight of the fact that, as a single investor in India, it has to keep before it the investors of the community as a whole. It will, therefore, invest in ventures which further the social advancement of the country. Its funds will, as far as practicable, be invested for the entire good of the country. The following factors are essential for an ideal insurance policy:
business of insurance. But the lack of uniformity, loop holes, blind spots and deficiencies within
Some would say Celtel lost $750,000, but Ibrahim and Alan Rudge knew this sum was a sunk cost. There was no time to lose, they had to move on, and they could do so as their investors and board members shared the same anti-corruption beliefs.
Coracle, being a new brand should first adopt a push strategy since there is low brand loyalty and low brand awareness. This will generate exposure and encourage distributors to stock up on Coracle. Only 25% of consumers understand and use clarifiers regularly. This shows that there is low involvement in purchasing decision and perhaps an impulse item as a residential clarifier. And thus a push strategy is a good way to promote the product. However, since product benefits are not well understood by consumers, Soren can also adopt a pull strategy in communicating the actual value of Coracle, and let consumers know about the annual EVC rather than unit cost. It is hard to promote Coracle to the distributors since they understand that low annual cost of Coracle comes
The company offers a modern and cool lifestyle, coined by their motto “for successful living”.
After analysing the big picture of insurance circumstance, this chapter will discuss the main problems of EIIC in terms of structural operation and strategic operation in other to find the most critical fault and some assumed solutions to fix it.
The company has also been accredited for having maintained a high degree of diversity coupled by its ability to maintain top quality in the standards of its products. Not only has the company retained a good reputation with its clients but also maintained an excellent corporate responsibility track record. This has built the public trust in the brand and is proud to be associated with it. To the wonder of many, the company has year over year continued to yield profits way over its competitors. To maintain such a success has been pre-determined by the way it has a strict, slow growth policy which ensures that it dominates a market before moving on to dominate another market, and despite the slow nature, the company has now emerged to be one of the fastest growing companies in the United States.
It pay specific attention to deals made with the government, establishing a good relation. And also he investment in quality products.
the introduction of new products. With its steady drive for improvement and consistently high quality,