Policy Selection Behaviour of Individual Investors towards Insurance Policies and Marketing Strategies Followed by Insurance Companies

The Indian insurance industry underwent a drastic transformation with the entry of private players who captured a significant market share-thanks to the deregulation of the Indian insurance industry. But still the insurers had behaved, more as retail seller; the efforts of telemarketing, marketing executives, banks, brokers & agents, channel partners influenced by the financial behaviour of individual as the buyer is involved in price negotiations and other value added elements. Indian consumers have big influence of emotions and rationality on their buying decisions. Indian Economy is having a huge middle class societal status and salaried persons. Their money value for current needs and future desires sets the pendulum to move to another side which generates the reasons behind holding a policy. Also the marketing activities are focused on creating and retaining customers by making customers feel happy and providing them low cost satisfaction and value based service element. The investors are influenced by their perception and human relates the perception to action i.e buying behaviour towards buying decision. Hence, this study has made an attempt to examine the related aspects of policy selection behaviour of individual investors towards insurance policies and marketing strategies followed by insurance companies to increase sales in Nasik city.