I am generally not a good person to sell anything to. I have an inherent need to have lots of data and with financial products, due to my training and the time I have spent in the market, I usually ask a lot of questions. Most of the new age 'financial advisors' don't manage to answer me and my interactions with them are restricted to the first transaction only. The list of such transactions reads like the who is who of the financial advisors today
1) sharekhan - they have lost the opportunity to cross sell anything to me, the guy usually calls in the middle of a work day and doesn't follow up
2) HDFC bank - They still do not understand I have a salary account, my forex transactions, a loan account and a large amount of my funds which are in the FD form with them. So if they had a profiling software, I should come up high, but I doubt if they have anything. So when I approached them for investment, what does the dude do? ask me to invest in NFOs of mutual funds and gives me a list of new funds. While i have nothing against investing in new funds, they better fit my investing framework. And the person from HDFC bank just could not measure up.
3) ICICI direct - These guys are slightly better - when the person who interacts with me
understands he does not know what I am asking, he acknowledges the fact and gets back in 30 mins. Keep up the good work guys, most of my investing offline is shifting to these guys.
4) personalfn - these guys were good, but since I travel so much and insist on meeting guys mostly on saturday mornings , I think this guy gave up.
Ok, the reason for this post - My new company does not have a health insurance, so I was looking to buy one. So I land on the insurancemall site. It is supposedly the best site to buy insurance online and has got wide coverage. So off I went. They have a very nice feature to compare premium and some basic features. But since I wanted more information, I tried the live chat, but could not continue. So they followed up with a mail, so back I went. Tried the live chat, and wanted details about some of the policy fine print. So the person on live chat put me onto a customer care executive who called. He had a transcript of the chat till then ( which shows someone has thought a bit about the business process!!) and started out. While he had the basic information, I wanted to know about the fine print. He tells me it was not available and he would get back. Am still waiting.
So will I buy insurance online, no sir , I think I will stick to my friendly insurance agent and buy it through him. But I will use the insurancemall.in site to look up premiums. Now if only my agent can stop being an agent and convert to a broker and offer me choice of companies from whom I can buy insurance, I will appreciate it.
Maybe I should just give him this idea :)
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2 comments:
Dear Deepak :
Customer Critical Review - Good / Bad or Ugly is supreme. Indeed, it helps the learning curve, more-so, when you are a Start-up like a www.insurancemall.in (IMI – India). I appreciate your comments about your experience at IMI- India.
At the outset Deepak, pls. accept our apologies, if inadvertently, we couldn’t service you, as per your liking. Now, if you could help me know, more in details, what exactly you were planning to buy at IMI but could not complete the transaction, I will personally ensure, that this time around, it is done to best of your satisfaction.
Of-course, you are free to take services from your friendly neighborhood agents, but, sorry they can’t give you Product & Pricing alternatives as it is available at www.insurancemall.in .
Bonsai’s InsuranceMall is the only Broking platform in India, which is making a serious attempt to bring all Insurance Plans of both Life and Non Life Companies at a transactional website, where you could Compare, Choose and Buy your choice Policy Online. Interestingly, we are the only Indian Brokers to have American Insurance Broking License. Why ? Because, to serve Global Indians. Try http://usa.insurancemall.in .
Again many thanks Deepak for bring out some mistakes in our process and we assure you that we have gained wisdom from your critical feedback.
Excited to let you know, that, we have just launched Critical Illness product, under Health Insurance Plan. Very soon we are going to launch Life Insurance as well as Motor Insurance compare and Buy feature at our site. Do write to me, any thing else, you feel, we must change, to ensure www.insurancemall.in is the first choice for you and our cherished customers.
Assuring you our best services all the time and we really appreciate your Business.
Cheers and Thanks,
Manish Jaiswal
CEO & MD
manish@bonsaiinternational.com
http://www.insurancemall.in
http://usa.insurancemall.in
http://www.bonsaiinternational.com
Well I agree with you that buying online has some issues and will take more than 3 years to come to a level of service we want.
We have a feature on our website to buy online but...not much of response.. There is lot to be done for making a customer feel safe to buy online insurance.
but any ways,An informative and comparison website www.getmeinsure.com for Indian Insurance Consumers. Consumers can apply for a Free Quote for their Life Insurance, Home Insurance, Health Insurance, Car/Auto Insurance , Child Plans and Retirement Plans from any number of companies of their choice. Its one the only portal connecting insurance consumers directly to insurance provider. The advantage of the website is that with a single insurance quote request form consumer's can contact all insurance companies operating in India.
Getmeinsure.com was featured in Outlook Money and Harmony Magazine’s recently. More than 5000 customers have already benefited from our service and the number is still growing.
It’s the first and the only website to provide this kind of service in India for Insurance. The company wants to tie-up with insurance brokers and insurance agents across India who will then approach customers and close the sales. The company is also setting up a customer support center to help customers.
Consumers can receive , compare and go with the lowest quote offered and reduce their insurance cost. As of today insurance was sold to consumers but now they can decide when and from which company to buy insurance.
It's a unique approach to buying insurance from the market place. The main aim of the website is to give the power of selection , comparison and negotiation to the retail consumers. Today only large companies and institutions used to enjoy the power of negotiation but now even the smallest retail consumers can negotiate their way to lower their insurance cost.
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