The Postgraduate Department of Commerce, in association with the Alumni Engagement Cell organized a Session for M.Com Part-I and Part-II students on 10th April 2023. The Resource Person was Ms. Ruhi Lotlikar, Development Officer at Life Insurance Corporation and an alumna of the College. The main objective of the session was to provide students with a platform to understand the practical aspects and career opportunities in Insurance Marketing. Asst. Prof. Edrea Picardo introduced the speaker to the audience.
Ms. Ruhi Lotlikar began the session by providing an overview of the meaning and types of insurance. She emphasized that life insurance provides financial stability to the nominee after the death of the policyholder. She shared that she herself did not initially understand the importance of life insurance when she started her job, but after gaining 10 years of experience, she realized its significance.
Ms. Lotlikar highlighted that marketing is a fundamental aspect of insurance as a service, teaching important communication and time management skills. She explained that marketing involves market surveys and random sampling to identify potential customers. Ms. Ruhi also provided insights on future job opportunities such as content writing and affiliate marketing.
Moving on to life insurance marketing in India, Ms. Ruhi emphasized the importance of communication and following up with potential customers. She also noted that due to the diverse income levels in the country, life insurance is not mandatory in India, unlike some other countries. Ms. Lotlikar further explained the benefits of having life insurance, such as low risk, tax benefits under 80 C, and additional benefits such as health insurance.
Ms. Ruhi then conducted a role play with a student volunteer, Ms. Roshni Khatun, to illustrate different scenarios of customer interactions with an insurance agent. She also cited a recent real-life example, where lack of information led to policyholders wanting to close their accounts due to fear of losses.
Ms. Ruhi highlighted the qualities necessary for getting people to accept life insurance, such as empathy, soft skills, observation skills, and a positive approach. She concluded the session with a quote from Abdul Kalam, “Love your job, not the company,” emphasizing the importance of pursuing a career that one is passionate about. She also addressed questions from the audience.
The session, attended by 43 students, ended with a Vote of Thanks proposed by Mr. Sarthak, a student of M.Com-II.
