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Y Ltd. is a bank, functioning in India. It is planning to diversify into the insurance business. Lately, the Government of India has allowed the private sector to gain entry in the insurance business. Previously, it was the prerogative of LIC and GIC to do insurance business. But now with a liberalisation of the economy and to make the field competitive other companies have been given licences to start the insurance business under the regulation of 'Insurance Regulatory and Development Authority'. Y Ltd. plans to recruit high-quality employees and agents and exercise effective direction to capture a substantial part of life and non-life insurance business. Identify how the company can supervise its employees and agents effectively? What benefits will the company derive from effective supervision? |
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Answer» Y Ltd. is a bank, functioning in India. It is planning to diversify into the insurance business. Lately, the Government of India has allowed the private sector to gain entry in the insurance business. Previously, it was the prerogative of LIC and GIC to do insurance business. But now with a liberalisation of the economy and to make the field competitive other companies have been given licences to start the insurance business under the regulation of 'Insurance Regulatory and Development Authority'. Y Ltd. plans to recruit high-quality employees and agents and exercise effective direction to capture a substantial part of life and non-life insurance business. Identify how the company can supervise its employees and agents effectively? What benefits will the company derive from effective supervision? |
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