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BASIX BROKERAGE FOR INSURANCE MARKETING (BIMA) LTD. (A proposed firm)

BASIX BROKERAGE FOR INSURANCE MARKETING (BIMA) LTD. (A proposed firm). Vision, Mission and Strategy of BIMA Ltd. Vision: A nation where risks of all kinds are anticipated, and minimised, and the residue that cannot be avoided is managed in a pooled, planned manner. Mission :

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BASIX BROKERAGE FOR INSURANCE MARKETING (BIMA) LTD. (A proposed firm)

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  1. BASIX BROKERAGE FOR INSURANCE MARKETING (BIMA) LTD. (A proposed firm) BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  2. Vision, Mission and Strategy of BIMA Ltd. Vision: A nation where risks of all kinds are anticipated, and minimised, and the residue that cannot be avoided is managed in a pooled, planned manner. Mission: To promote penetration of insurance services among low income households across rural and urban so as to cushion the adverse financial impact of insurable risks on households. Strategy: BIMA will strive to complement Insurers’ strengths to offer sustainable distribution and claims settlement with adequate incentives to staff to earn a decent living while offering products responsibly. BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  3. Statutory status and requirements The strategy is to acquire an existing brokerage firm and build on that. However, getting an opportunity to acquire a composite broker is not easy. BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  4. Strategy to Achieve Mission 3 Scale Equal focus on Urban & Rural Mkts; Build Product knowledge & Service culture: Deploy cutting edge technology 2 1 Cost efficiency Excellence BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  5. BIMA Ltd. Role in Insurance Services Distribute & Service Insurance products Design & offer products Customer Insurers BIMA Ltd. Inputs for products & process Feedback on needs BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  6. Preferred Insurance Partners for focus As Broking Company, BIMA Ltd. can sell all insurers’ products. However the company shall strategically focus on few choice insurers based on merits as mentioned below. And also have at least one public insurer in the prefer choice insurers. The choice of insurers for focus will be based on the product merits, process efficiencies and institutional relationships. The above choices are tentative list with limited search and can change once more search is done. We shall add more institutions of choice for focus as we progress institutionally to handle multiple relations. BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  7. Major Direction 1: Achieving Excellence BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  8. Major Direction 2: Achieving Cost Efficiency BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  9. Major Direction 3: Achieving Scale BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  10. Dashboard Parameters of a Insurance Sales Executive (ISE) BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  11. Organization Structure Y1 Operations CEO to look after Business Relations with insurers BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  12. Organization Structure Y2 Operations BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  13. BASIX Outreach BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential BASIX is also starting Common Service Centers (CSCs) in Punjab (829) and Nashik (1300+) in addition to the existing network in Odisha and Meghalaya

  14. Business Locations & Branches proposed Expansion strategy: Initial 2 years: High potential penetration markets with BASIX presence. AP is proposed for the reason of ready infrastructure and HR available. Follow up years: Expand to less potential markets as financial strength is gathered. BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  15. Gen Ins Prod. envisaged, sales & productivity BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  16. Life Ins Prod. envisaged, sales & productivity BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  17. Statutory limits on remuneration(commission eligible as % premium collected) BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  18. Insurance Policies Sales projected BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  19. Financial Projections BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

  20. Time Frame BASIX Brokerage for Insurance Marketing (BIMA Ltd) - Private and Confidential

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