6hAPTER 5

5. 60N6LU8|0N AN0 RE60HHEN0AT|0N

5.1 6onc|us|on
Fror lre researcr, lre sludy lourd lral lrere Was |rleresl arorg cooperal|ve reroers ol
'Koperas| Fe|da 8u||l Crera|ar 3e|argor 8errad loWards Ta|alu| Ke|uarga or L|le lrsurarce.
wrer lre researcrer ara|ysed lre dala ava||ao|e, |l c|ear|y sroWed lral lre |rleresl arorg
lrer loWards ||le |rsurarce |s |rpress|ve. Tre ra|r laclors lral |rl|uerce lre reroers
loWards lre ||le |rsurarce are gerera||y or lre|r age, gerder, |rcore, lar||y r|slory ard lre
|rsurarce producl ard lealures.

Tre sludy ara|yse lral lre reroers aoove 10 years o|d are rore |rleresled loWards lre ||le
|rsurarce. Vajor|ly ol lrer agreed lral sav|rgs ard ||le prolecl|or are r|gr|y |rporlarl lor lre|r
lar||y lulure. Furlrerrore, lre Ta|alu| Ke|uarga are allordao|e lo lre reroers Wr|cr |s
rajor|ly are lre larrers.

lr re|al|or lo gerder ol ra|e ard lera|e, lera|e seers lo oe rore corcerr loWards lre|r ||le
|rsurarce Wr|cr |s rosl ol lrer rave grealer aWareress or d|sao|||ly ard ary ||rd ol
d|seases.

lr sludy ol allordao|||ly, rosl resporderls Wro rave a l|x |rcore ras a greal |rleresl lo
purcrase lre |rsurarce ard allord lo pay lre prer|ur rorlr|y corpare lo lrose Wro do rol
rave ary l|x rorlr|y |rcore, lrey are rore re|uclarl loWards lre |rsurarce.

5.2 Recommendat|on
Fror lre resu|ls ol quesl|orra|re, lre researcrer car deve|op a recorrerdal|or aooul lre
lop|cs. Tre recorrerdal|or are slaled oe|oW :-

5.2.1 lrl|uerce oy l|grer |eader ol lre cooperal|ve reroers
3ludy a|so sroWs lral lre reroers W||| r|gr|y |rl|uerce oy lre |eaders. Trey lrusl lre
|eader ras sroWr lrer a good exarp|e or l|rarc|a| ard sav|rgs. Loo||rg al lre scerar|o, lre
Cra|rrar ol Koperas| , Tr lj.. ras agreed lo purcrase lre ||le |rsurarce Wr|cr oller r|r a
good oerel|ls. le oe||eved lre ||le |rsurarce W||| oe lre greal advarlage lor lre reroers lo
prolecl lre|r lulure ard lar||y. le recorrerded lre sare lo a|| reroers, so lral lrey W|||
erjoyed lre oerel|ls ard rave a oeller sav|rgs lor lre lulure.
8u||d|rg lre reroers lrusl ard percepl|or loWards lre ||le |rsurarce |s rol ar easy
las|, espec|a||y lo lrose ser|ors ard o|der sell|er. Trey reed a respecl|ve persor Wro car oe
lrusl ard urderslard lre|r s|lual|ors ard reeds lo |rl|uerce lre|r |rleresls ard |roW|edge
loWards lre ||le |rsurarce. Ard researcr recorrerded lre |eader sucr as lre Cra|rrar ol
Koperas| , ard Kelua Karpurg ol 8 W||| oe lre oesl persors lo corvey lre ressage.
5.2.2 Appo|ntment F|nanc|a| Adv|sor
The ro|es and scope of the F|nanc|a| Adv|sor are as stated be|ow:-
5.2.1.1 Focus on customer serv|ce and sat|sfact|on

To oe a successlu| l|rarc|a| adv|sor, eacr ol lrer rusl de||ver a good serv|ce
aller sa|e Was rade. T rears lral, lo ra|rla|r lre ex|sl|rg c||erls lo oe |oya|,
lre las| ol l|rarc|a| adv|sor |s lo |eep corlacls W|lr lre c||erls ard a|Ways le||
lrer aooul reW producls errarcererl. 3o, lrey W||| oe a|erl aooul reW
producls.

5.2.1.2 8earch a new market

3|rce peop|e |r loWr aWare aooul lre ||le |rsurarce po||cy, l|rarc|a| adv|sor
srou|d l|rd olrer rar|el espec|a||y lo lrose Wro are ||v|rg ouls|de loWr areas.
3o, lre las| ol l|rarc|a| adv|sor |s lo reacr ard searcr reW rar|el ard
rax|r|ze lre|r ellorl lo l|rd oul lre peop|e Wro rave lre polerl|a|s lo ra|e ||le
|rsurarce po||cy as parl ol lre|r reeds.

5.2.1.3 Expert |n F|nanc|a| P|ann|ng

lr order lo oe successlu| |r lr|s ||re ol ous|ress, |l |s very |rporlarl lor lre
l|rarc|a| adv|sor lo |rl|uerce peop|e oy rav|rg a good |roW|edge regard|rg
lre producls ol ||le |rsurarce. 8es|de lral, lrey rave lo sludy ard ra|e
preparal|or ear||er lo ra|e lre|r preserlal|ors rore corv|rc|rg ard
successlu|. F|rarc|a| adv|sor a|so rusl a|Ways prepared W|lr lrequerl as|
quesl|or ard rusl rave r|gr s|||| ol rard||rg oojecl|ors.

5.2.1.4 F|nanc|a| P|ann|ng 6onsu|tant

lere, as a l|rarc|a| adv|sor, lrey srou|d rave pal|erce oecause sorel|res
lre approacres lrey used carrol oe eas||y accepl oy prospecl cuslorers. Tre
rosl |rporlarl lr|rg rere |s lo very proless|ora| |r do|rg lre|r joo ard lac|||rg
ary proo|ers lral ar|se |r lre|r dea||rgs W|lr lre c||erls ell|c|erl|y ard
ellecl|ve|y.

5.2.1.5 Promot|ng New Products and 8erv|ces

lr lerrs ol adverl|s|rg ard prorol|or, l|rarc|a| adv|sor srou|d la|e parl |r

order lo d|slr|oule orocrures ard parpr|els lo peop|e. To oe rore ellecl|ve,
lrey srou|d |rvo|ve |r lre road sroWs dur|rg everls ol reW producl |aurcr|rg,
elc.



5.2.2 |nsurance 6ompany
The ro|es and scope of |nsurance 6ompany are as stated be|ow :-

5.2.2.1 Product features

Accord|rg lo lrsurarce Acl 199, eacr lype ol producls prer|ur rusl oe ro d|llererl
corpared lo olrer corpar|es. 3|rce lrer, corpar|es car ra|e lre|r producl d|llererl
corpare lo olrer corpar|es oy add|rg sore lealures ard oerel|ls lo lre cuslorers.
Corpar|es car prov|de lealures lral reel or exceed|rg cuslorer expeclal|or lo ra|e
|l d|llererl W|lr olrer corpar|es.

5.2.2.2 Advert|s|ng and promot|on

Corporale rar|el|rg serv|ces p|ay ar |rporlarl |r ary rar|el|rg acl|v|l|es. lrsurarce
corpary lo p|ar ar adverl|s|rg acl|v|l|es |r order lo lrarsler lre ressage lo lre largel
resporderls. Adverl|sererl rusl oe ellecl|ve ard rear|rglu| lo allracl polerl|a|
cuslorers. 0lrer lrar us|rg rass red|a as adverl|sererl crarre|, |rsurarce
corpary car |rcrease lre|r ruroer ol l|rarc|a| adv|sor lo represerls lre corpary.
lrsurarce corpar|es a|so car rol|vale lre|r l|rarc|a| adv|sor lo |rcrease sa|es oy

g|v|rg add|l|ora| reWards, |rcrease lre|r corr|ss|ors ard g|v|rg olrer reWards lor lre|r
acr|evererls.

lrsurarce corpary a|so car de||ver lre ressage lrrougr |rlerrel oy upgrad|rg lre|r
Weos|le, use |rlerrel adverl|s|rg relrod ard a|so deve|op cuslorer re|al|or sysler
(CR3) lo ra|e |rleracl|or oelWeer cuslorers ard |rsurarce corpary rore eas||y.

3|rce sporsorsr|p |s rore |rporlarl roWadays, |rsurarce corpary a|so car la|e
parl|c|pal|or |r sporsorsr|p acl|v|l|es lor exarp|e looloa|| lear ard olrer sporls,
carp|rg, ce|eor|l|es' everls ard olrers.

lrsurarce corpary a|so car do|rg prorol|or acl|v|l|es as ar add|l|or lo |rcrease
sa|es. Prorol|or car oe rade oy us|rg puo||c l|gure sucr as s|rger, alr|eles, aclor
ard aclress lo parl|c|pale |r prorol|or acl|v|l|es. 8y g|v|rg a lree g|lls or rarper lor
exarp|e, |l car |rl|uerce polerl|a| cuslorers oy lr|r||rg lral lre corpar|es W||| g|ve
rore pr|v||ege |l lrey purcrase sorelr|rg lror lrer.
Tre sludy a|so recorrerded lre |rsurarce corpary proposed lo rave ar everl al
lre largel resporderl area sucr as Far||y 0ay or ary ||le acl|v|l|es, |r order lo
|rlroduce lre producls, lre F|rarc|a| Adv|sor ard lo ou||d up a rapporl W|lr lre largel
resporderl. Vajor|ly peop|e al suo uroar area erjoyed rav|rg a galrer|rg acl|v|ly
arorgsl lre|r reroers, ard lr|s opporlur|ly W||| allracl lrer loWards lre ||le
|rsurarce producl ard lre oerel|ls ol |l.

5.3 Future Research

Trere are a leW suggesl|ors aooul lre lop|c. Tre suggesl|ors are :-

|) Focus or lre researcr aooul proo|ers laced oy lre polerl|a| cuslorers lo purcrase
||le |rsurarce po||cy.

||) Tr|r| aooul lre deep |rs|de ol lre polerl|a| cuslorers, so ary prorol|or or adverl|s|rg
W||| oe rore ellecl|ve.