THE VISION, MISSION, AND GOALS of Prime Life Insurance
Like all other current associations, Prime Insurance is guided by a lot of key articulations. These are its Vision, Mission and Goals (VMGs). They state how the organization tries to in the long run be, like an office in the public eye; what it means to accomplish, as a player in the protection business and how it looks to quantify its prosperity.
These are the fundamental arrangement explanations of the organization, in that they obviously characterize what the organization plans to be. Furthermore, they express the key standards on which the organization remains on and from which it organization d’etre and reason. Consequently, they are the “givens” seeing how Prime will try to get things done.
Prime Insurance Company Ltd. is The State of Perfect Balance® – a spot where each individual can accomplish a harmony between developing monetary success and satisfying personal satisfaction.
CORPORATE MISSION of Pime Life Insurance
Prime Insurance Company Ltd. is devoted to giving protection items that furnish quality insurance with esteem evaluating. We wish to set up a fruitful organization with our customers, our staff individuals, and our insurance agencies, that regard the interests and objectives of each gathering.
The achievement will be estimated by our customers picking us as a result of their confidence in our capacity to meet or surpass their desires for value, administration, and skill.
In this way, we would like to upgrade the business atmosphere for Nepal’s protection industry and create imaginative approaches to hold and make quality protection items for Nepali.
We will be the model supplier of complete protection items through inventive and responsive organizations with our clients and one another.
The logic of the Prime Insurance Company Ltd. is that its duties as the player of the protection business in the national impact the personal satisfaction of residents in light of the fact that the accessibility and reasonableness of protection through monetarily solid back up plans is fundamental to financial improvement, keeping up existing business and industry and the security of the lives and property of natives.
By concentrating on its qualities, its present customer base, and new esteem evaluated items in the following year, Prime Insurance intends to build net deals by 10% and benefit by 15%.
Our Keys to Success and basic elements for the following five (5) years are, arranged by significance:
- Distinguish “Target Markets.”
- Establishment of our Property investigation program.
- Start our “Protection Partners” program.
- Build up a beneficial property program.
- Give independent ventures a moderate essential business bundle.
Prime Insurance Company Ltd. has been beneficial since its foundation. In any case, as of late the organization has had a declining piece of the overall industry and this must be tended to. Our objectives in this manner are:
- To share the Prime story: Market Prime Insurance’s qualities to both household and outside customers.
- Reinforce our qualities: Enhance the engaging quality of our business atmosphere.
- Develop top ability: Attract and hold protection industry ability while advancing business openings in the business.
- Put resources into our advantages: Invigorate our quality across the country
- Concentrate on our clients
- A long haul monetary suitability.
- Give an all-encompassing and responsive administration to customers
- To restore Prime Insurance Company Ltd. as the market head in quality and esteem estimated protection items in Nepal.
- Set up great working associations with our present protection showcases by meeting with their leaders and plotting a common arrangement for progress. Get responsibilities for help and items that we can showcase in our exchanging region.
- Examine new markets that meet our advertising criteria by focusing on little country financier, giving items reasonable to our monetary and social atmosphere, and plan for the transfer and download of protection arrangements.
- Give deals motivations to staff to meet deals objectives of 10%.
- Complete assessment of all Pilot property holders inside one month before restoration date.
- Figure intends to obtain a business
Prime Insurance Company Ltd. is devoted to giving protection items that furnish quality assurance with esteem valuing. We wish to build up a fruitful organization with our customers, our staff individuals, and our insurance agencies, that regard the interests and objectives of each gathering.
The achievement will be estimated by our customers picking us due to their confidence in our capacity to meet or surpass their desires for value, administration, and aptitude.
So as to actualize our key objectives, we will concentrate on building up the accompanying instruments.
The proficient, agreeable staff that can sympathize with our customers’ needs and conditions, particularly in dealing with misfortune.
Strategies that meet or surpass the desires for our customers, and that are reasonable, accessible, and justifiable.
Strategies and supports conveyed on time with insignificant blunders.
A guarantee to a yearly protection survey for the majority of our customers. A telephone call is more than any immediate mass advertiser offers. We trust individual contact and administration is the foundation of our prosperity.
Prime Insurance essentially markets and administrations Personal Lines Insurance. Its clients are for the most part country, lower pay families or long-term inhabitant senior residents who request esteem evaluated protection premiums with regards to their lower and fixed wages.
We likewise give protection to a private company, for the most part, family-run occasional tasks principally centred around the visitor exchange.
We have worried to our safeguarded the significance of good correspondence between the representative and customer to protect appropriate inclusion is set up.
We have seen as our customers turned out to be better educated about the protection that there has been a colossal increment in customers wishing inside and out talks about their strategy inclusion and how they can get the most incentive for their protection premium.
Our organization’s quality lies in the quality and profundity of our items and staff. As a result of our bigger staff, we can support our customers notwithstanding when a customer’s dealer is occupied or out of the workplace on examinations.
We need to accentuate the advantage of managing experts who live and work in our catchment region. We know their requirements and their issues and we have neighbourhood notoriety to secure, dissimilar to an away market.
On the off chance that the away representative neglects to give legitimate spread or exhortation, they lose one customer. We could remain to lose numerous if the open see an expert disappointment on our part. Aggressive costs for our distinguished target markets. We will offer limits of up to half as No Claim Discounts (NCD)for without claims customers who reestablish their home protection with us.
Our clients are particularly delicate to esteem. We should guarantee that our cost and administration are seen to be a great incentive for our customer.
Our business sectors must offer a few instalment alternatives to our customers that are helpful to the customer, not simply to the organization. Model – instalment on protected as a favoured day of the month, not on the company’s, and tolerating instalment in portions. Many guaranteed are on fixed pay and get their pay on a set day of every month or a check on a specific day.
We urge staff to focus on our “Objective Market.” Many of our organizations are currently concentrating on what they have seen to be beneficial speciality markets, where they can offer an aggressive item with little, assuming any, rivalry.
We are seeing our business showcases presently advancing toward essential inclusion and restricting the “fancy odds and ends,” all-chance items accessible to just those customers who have current, very much oversaw, beneficial, okay tasks.
This should help balance out evaluating and, much increasingly vital, guarantee that there is protection advertise accessible for general chances. Proceeded with a request by the business on better security, for example, flame and criminal alerts, overhauling of structures, and so forth., have begun to bring down misfortune proportions.
- Promoting Strategy
- Underscore administration and backing.
- Fabricate an association business dependent on record selling.
- Concentrate on senior, sans claims individual lines business and the productive, well-run, little privately-owned company.
- Target little, non-establishment business that does not approach gather protection plans.
- Examine getting different financiers in our general vicinity.
- We approach each part of our work with the most elevated principles of uprightness.
- We esteem our clients.
- We utilize our assets adequately.
- We approach our work as an expert group.
- We treat each other as we wish to be dealt with ourselves.
- Dependability and total trustworthiness.
- We support activity and change in a dynamic business condition.
- We put worker security first.
- Be the change creator, rather than just responding to change.
- consistent consisted not coordinated effort with people in general, non-benefit, and private area accomplices; locally and territorially.
- Put resources into what is important most.
- Enhance with new, progressively viable arrangements and make a positive client experience.
- Execute, sort out, and adjust to accomplish our objectives.
A CONSIDERATION OF PRIME INSURANCE COMPANY’S STRENGTHS, WEAKNESSES,
Openings, AND THREATS (SWOT ANALYSIS)
The organization thought about the impression of our qualities, shortcomings, openings and dangers (SWOT) inside our current and unfurling full scale, outside, and inward situations.
These are viewed as appropriate to our Vision, Mission, and Goals. Each working feature of the organization attempted the activity. The following is a solidification of what was recognized at these working dimensions and condensed for the entire organization as an association.
The organization gets the majority of its organizations from the Assemblies of God church, which has huge participation across the country.
- Prime Insurance has solid deals group.
- The organization has great hazard examiners.
- Premium rates are expanding as commission.
- Our assortment of items is expanding.
- Prospects anticipate more administrations from our merchants.
- The organization can’t meet investors at normal Annual General Meetings (AGMs) to brief them on the advancement or difficulties of the organization.
- Prime Insurance is frequently moderate to react to changing needs in the business.
- There is an expanding pattern of money related to a shortcoming in the organization.
- There are more contenders for organizations to rival banks and Internet players.
- The organization has a poor arrangement of protection strategies.
- Prime has a little size in respect to contenders and different players in the business.
- The organization has potential new protection customers.
- The capacity to strategically pitch budgetary administrations is scarcely being tapped.
- The organization’s innovation is improving to the point that paperless exchanges are accessible.
- The organization’s customer’s expanding requirement for a “protection specialist” can open better approaches to support them and produce pay.
The expanding cost and requirement for protection may hit a point where a kickback will happen.
Government guidelines on issues like social insurance, form and fear-based oppression can rapidly alter the course of protection. Expanding costs and lower net revenues will hit hard on the little offices and insurance agencies.
Expanding costs and lower overall revenues will hit hard on the little offices and insurance agencies.
Technology Used By Prime Life Insurance
PrimeLife association have its very own item called CLAS, which is a central database structure and can be gotten to by all of the branches meanwhile for methodology issuance and updates. With the help of this item, PrimeLife can pass on organization to its customers beneficially.
The association has introduced a SMS system, through which all of the policyholders get see for portion of methodologies. This structure makes the policyholders industriously get life inclusion benefits.
The association has exhibited flexible application in android and iOS arrange, through which everyone can without quite a bit of a stretch get association information, thing depiction, premium estimation of various things. Through this application, game plan holder and association power can without a lot of a stretch access their own data.
Prime Life Insurance Company Branch Locations
P. Box 25979
- Arghakhanchi, Nepal
- Bhairahawa, Nepal
- Sunwal, Parasi
- Bhojpur, Nepal
- Dhankuta, Nepal
- Terhathum, Nepal
- Inaruwa, Nepal
- Gaighat, Nepal
- Katari, Nepal
- Siraha, Siraha
- Phidim, Nepal
- Amardaha, Nepal
- Damak, Nepal
- Gaurigunj, Nepal
- Krishnanagar, Nepal
- Taulihawa-01, Kapilbastu
- Gaur-4 , Rautahut
- Daman, Nepal
- Manahari, Nepal
- Bardibas, Nepal
- Lalbandi, Nepal
- Nijgadh-9, Bara
- Gunjanagar – 6, Chitwan
- Gorkha, Nepal
- Kawasoti, Nepal
- Parsa, Nepal
- Manthali-4, Ramechhap
- Nijgadh-9, Bara
- Manthali-4, Ramechhap
- Barahbise, Nepal
- Charikot, Nepal
- Chautara ,Nepal
- Kapan, Nepal
- Kritipur, Nepal
- Purano Baneshwor
- Purano Baneshwor, Nepal
- Samakhusi, Nepal
- Chapagaun, Lalitpur
- Dhading, Nepal
- Lubhu-7, Lalitpur
- Thimi, Nepal
- Lamahi, Nepal
- Rolpa, Nepal
- Tulsipur , Nepal
- Dipayal, Nepal
- Sukhad, Nepal
- Tikapur, Nepal
- Baitadi, Nepal
- Belauri, Belauri
- Dadeldhura, Nepali
- Darchula, Nepal
- Gokuleswor , Nepal
- Guleriya, Nepal
- Kohalpur-03, Banke
- SalliBazaar , Chaurjahari Sadak, SalliBazaar
- Dailekh ,Nepal
- Mehelkuna, Nepal
- Gulmi, Nepal
- Damauli, Nepal
- Walling, Nepal
Prime life insurance website
Author: Abhishek Jha