Assessing the Challenges and Prospects of Sales Agent in Marketing of Insurance Product
| dc.contributor.advisor | Hailemariam Kebede (PhD) | |
| dc.contributor.author | Haile Abebe | |
| dc.date.accessioned | 2024-03-04T11:49:29Z | |
| dc.date.available | 2024-03-04T11:49:29Z | |
| dc.date.issued | 2022-06 | |
| dc.description.abstract | Sales personnel play an important role in the performance of service companies. Sales agents of EIC contribute in millions to the annual premium production of the corporation. But these insurance sales personnel have many challenges and opportunities simultaneously. The paper aims to extend the line of knowledge about the current challenges and opportunities of insurance sales agents. To do so the researcher conducted an extensive review literature in the field of insurance business to identify critical challenges of the sales personnel to be alleviated and the current opportunities of the insurance business to be exploited. The primary data were collected using questionnaires from sales personnel. The sample size was 235 with 100% response rate. The secondary data were collected from companies’ annual reports and publications, from publications of National Bank of Ethiopia and from other related books. The primary data was collected using five point scale Liker’s scalequestionnaire. Thedata was analyzed using both descriptive and inferential analysis techniques through the use of Statistical Packages for Social Studies (SPSS). The findings of the paper indicate that ineffective sales agent selection and training process of the corporation; inadequate commission rate of the corporation and incompetent employees in customer handling; complex underwriting and claim handling process; lack of innovativeness in product development; low customer awareness towards insurance business; competition through price; unhealthy competition and dishonesty of client and employee are the current challenges EIC’s sales agents are facing. On the other hand the existing economic growth in the country, large number of private and government projects, high foreign direct investment and the current construction boom in the country are the opportunities for the sales personnel in the insurance industry. Finally, the paper gives recommendations to overcome the challenges and exploit the existing opportunities of the insurance sales personnel. Key words:sales agent’s opportunity, sales agent’s challenge, sales agent’s performance | |
| dc.identifier.uri | https://etd.aau.edu.et/handle/123456789/2103 | |
| dc.language.iso | en_US | |
| dc.publisher | Addis Ababa University | |
| dc.title | Assessing the Challenges and Prospects of Sales Agent in Marketing of Insurance Product | |
| dc.type | Thesis |