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Reliance Life launches Life Plus Club

Reliance Life aims to meet 10 lakh customers by March 2013

August 17, 2012 11:49 IST | India Infoline News Service
Private insurer Reliance Life has launched Reliance Life Plus Club—a post-sales customer service initiative.

Japan’s Nippon Life along with its partner Reliance Life has introduced the concept of post-sales services to the Indian insurance industry. As a strategic partner, Nippon Life holds 26% stake in Reliance Life.

Post-sales service is a widespread practice followed by many companies to retain their customers. The service involves a continued relationship between the company and its customers through maintenance and advice-like offerings for years after the actual sale of the product.

Reliance Life would mandate its advisor or agent to go back to the customer, beyond just collection of premium, with a view to maintaining a long-term relation with its policyholders.

Reliance Life Plus Club would make it mandatory for Reliance Life’s 1.5 lakh employees, advisors and channel partners, to visit its policyholders at least once in year.
According to Reliance Life, it is the first company in India to introduce a structured post-sales customer service, which involves a long-term relation between the company and its customers through personal interactions. Through this initiative, Reliance Life aims to meet 10 lakh customers by March 2013.

During these interactions, Reliance Life advisors and agents would review customers’ existing policies, understand changes in the customers' financial goals since their last policy, evaluate current insurance needs and offer advice on suitable new products. Under the initiative, the company expenses of about Rs. 120 million would be incurred this year.

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