Prudential Assurance Malaysia Berhad is an insurance company that providing insurance coverage which are life insurance, medical insurance, endowment policy and so on. They will provide their customer with good quality services in order to meet their goals. Prudential have developed the IDIC model in order to create long-term relationship with their customer, retain the existing customer and attract more new customers.
Prudential try to identify their customer actual data and well-know their customer in order to building closer and long-term relationship with their customer. Prudential identify their value customer as those people who need to have insurance coverage. Prudential will identifying their customer by data obtained when the customer …show more content…
The insurance company offer different type of insurance policy coverage for example protection policy, savings and investment, retirement, critical illness and health, funds and so on. The different type of insurance coverage policy offer to different type of insured that including child, adult, retirees and so on. Different type of insured will have different type of insurance policy coverage and the different rate of premium. For example there is a protection policy which is investment-linked insurance policy plan the infant or the child who is between age 1 to 18 and 18 weeks unborn baby into mother pregnancy, the parents can purchase this insurance plan for their child. For the critical illness and health insurance policy that covers medical expenses incurred in hospitalization. This policy is suitable for the child and adult between ages 1 to 70. While for the people who between ages 30 to 65 who want to achieve their retirement goals they can purchase retirement growth insurance policy. From this differentiation method, it can fulfill the customer needs and expectation which is clearly stated which insurance policy coverage is suitable for which type of people. It also allow the insurance company to allocate their resources more efficiency and effective to their value customer. Thus, Prudential can implement an appropriate strategy for each of the …show more content…
Prudential will make customization by doing adaption on their services provided to meet the expectation of the customer. Prudential had customize various type of insurance plan to suit the different customer needs and expectation. Prudential also obtained the behavioral and attitude data from the customer for which are from their history of purchasing the type of insurance plan, evaluation of each plan that they purchased and key-in into their system. Based on the data from the customer, Prudential will try to create some new insurance plan which is more suitable, reasonable and affordable premium in order to meet the needs and expectation of the customer. The customization method is able the Prudential to create long-term and closer relationship with their
Prudential try to identify their customer actual data and well-know their customer in order to building closer and long-term relationship with their customer. Prudential identify their value customer as those people who need to have insurance coverage. Prudential will identifying their customer by data obtained when the customer …show more content…
The insurance company offer different type of insurance policy coverage for example protection policy, savings and investment, retirement, critical illness and health, funds and so on. The different type of insurance coverage policy offer to different type of insured that including child, adult, retirees and so on. Different type of insured will have different type of insurance policy coverage and the different rate of premium. For example there is a protection policy which is investment-linked insurance policy plan the infant or the child who is between age 1 to 18 and 18 weeks unborn baby into mother pregnancy, the parents can purchase this insurance plan for their child. For the critical illness and health insurance policy that covers medical expenses incurred in hospitalization. This policy is suitable for the child and adult between ages 1 to 70. While for the people who between ages 30 to 65 who want to achieve their retirement goals they can purchase retirement growth insurance policy. From this differentiation method, it can fulfill the customer needs and expectation which is clearly stated which insurance policy coverage is suitable for which type of people. It also allow the insurance company to allocate their resources more efficiency and effective to their value customer. Thus, Prudential can implement an appropriate strategy for each of the …show more content…
Prudential will make customization by doing adaption on their services provided to meet the expectation of the customer. Prudential had customize various type of insurance plan to suit the different customer needs and expectation. Prudential also obtained the behavioral and attitude data from the customer for which are from their history of purchasing the type of insurance plan, evaluation of each plan that they purchased and key-in into their system. Based on the data from the customer, Prudential will try to create some new insurance plan which is more suitable, reasonable and affordable premium in order to meet the needs and expectation of the customer. The customization method is able the Prudential to create long-term and closer relationship with their