Detail Rogue Agents; Indian Insurance   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 401 no. 8757 (Oct. 2011), page 75-76. Topik: Consolidation; Life Insurance; Insurance Agents & Brokers Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.68 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel At the peak of India's strange insurance hysteria a few years ago there were almost 3m people flogging life-insurance policies. Many of them did so while juggling other jobs, from driving taxis to running TV repair shops. Even by the standards of the subcontinent it was a colossal operation: Indian Railways employs a mere 1.5m people. Many agents were hired in a frenzy of optimism by the world's most famous insurance firms, which piled into the country, taking minority stakes in joint ventures with local partners (often India's big industrial conglomerates), as the rules require. Letting in new players, the authorities judged, would bring the joys of life insurance to the masses and help direct their savings into India's needy capital markets. By 2004-05 things had begun to get out of control. Without an infrastructure on the ground, the new firms hired armies of agents, giving them a healthy commission of, say, 25% of the payment (or premium) the customer coughed up in the first year. The agents sold the raciest products they could--unit-linked policies, which are invested mainly in equities and which thanks to India's bull market were producing stonking returns. These were not protection against old age or death, but instead a fairly speculative kind of investing. At about the same time regulators cracked down on mutual funds, leaving unit-linked policies as the next best way to have a punt on the markets. India may eventually become so big that there is still enough for all. But some of the local JV partners, many of them without experience in life insurance, seem to have been more interested in making a fast buck. The obvious solution is consolidation, with the big players buying the smaller ones, particularly those that rely on agents and have no solid banking partner. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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