Broker Fish Industry Research Paper Example | Topics and Well Written Essays - 1000 words

Broker Fish Industry - Research Paper Example The company started its operations 10 years back as a financial consulting firm and in 2002, stepped into covering medical insurance. This insurance company not only helps individuals but also different organization by providing them with best health insurance schemes. They provide high value health insurance options to their customers because they believe in easy affordability, excellent service, delivering customer value in a friendly environment and building good and profitable relationships with customers by finding their needs regarding health insurance. Health is the most significant thing in everyone’s life but most people do not give it much importance by indulging themselves in other useless things. All these factors appeal the customers and therefore, they consider it important to be medically insured. The vision of this company is to provide excellent service with easy affordability and with innovation, build honest relations with customers and provide fun environme nt to their employees which will help in achieving company’s goals easily. It happens very often that people want to change their health insurance agents or company because of a number of reasons like poor service when they need them most for instance hospital claim or in any other emergency or poor communications, lack of knowledge, as agents are not aware of the health insurance they have provided themselves. Sometimes even their record keeping is very poor. They do not keep proper records of their last claims or do not inform customers about the renewals at the right time. These are the issues that customers face with health insurance agents and companies. The policy changes to be considered are as follows: Carry out market research on regular basis in order to find the needs of customers; Training to be provided to all insurance agents on a regular basis so as to fulfill the needs of customers and to provide value to them; Maintenance of profitable relationship with custo mers and keeping them updated with any changes affecting them or their policies; Change is constant in the insurance industry, its policies and premiums also keep changing. To make sure that customers are aware of these changes so they can choose wisely; Provide high quality advice to customers so that they select the best policy option. Continue to offer new policy plans to provide customers with new and innovative plans and give them the options to change their policies by choosing the one most suitable and best for their family. These policy changes will affect the entire company as well as the five management functions in a number of ways. STAFFING: This is the most important management function; organization should recruit right people with the right skills and knowledge for the particular task that will help in attaining organization’s goal. The most significant thing that organizations should keep in mind is the people they hire because they make or break companyâ€⠄¢s reputation. In order to be competitive in the market organization should respond to the change efficiently and right people with right skills can guarantee success. Broker Fish Health Insurance will hire the right people as their insurance agents who should be trained properly so as to inform customers and other organizations about the health insurance policies of the company. The agents should also know how to persuade them by telling them how these policies fulfill their needs and is the best as compared to the ones provided by rival companies. Broker fish insurance agents will have proper knowledge about the policies and changes that are expected in the future. Company will make sure that their agents are fully informed and updated on the policies and will give them proper guidelines on the information. Managers will keep track of their agents, if they are communicating the right information to customers and informing them about the new, upcoming plans. PLANNING: This