There are 59 million Middle Market ($35k-$100k income) households in the India. A recent study showed that the majority of these households are underinsured and would prefer to buy insurance face to face*. HDFC Life Insurance Company recognizes the diverse needs of these households and is determined to do what we do best — provide financial services to those that need it. As such, we have developed many resources for our Agents that work with these households.
At HDFC Life we have specific products, advertising, marketing plans and support, and everything that an Agent would need or want to succeed in this market. We encourage you to call upon us to help you in developing your business plan. Some of the ways in which we support our Middle Market Agents are: • Helping you to better understand and tap into the lucrative opportunities that exist in the Middle Market. • Showing you how to increase productivity by developing targeted marketing skills including networking and maximizing opportunities with various organizations and associations. • Making the right resources available to be able to identify and market to specific target segments of the Middle Market. Included in these resources are targeted direct mail campaigns, HDFC Life custom seminar programs, and event sponsorship opportunities. • Providing you with turnkey selling systems developed specifically for the Middle Market. • Offering hands-on training, case study analysis, and role-play exercises to show you how to build trust with potential prospects. • Create opportunities for you to meet successful Agents who work in the Middle Market. • Helping you to position yourself as a key resource to your target market.
What is the Middle Market? • Household incomes between $35,000 and $100,000 • 50.5% of all India households (59.1 million)* • Well educated • Mostly married • Many come from dual income households • Almost half don't own life insurance or feel their coverage is inadequate*
Advanced Markets:
HDFC Life's Advanced Services Division provides sophisticated and personalized support to enhance the productivity of high-end agents working in estate and business markets.
Cultural Markets:
Several ethnic groups in the India display both demographic and cultural characteristics that make them very attractive life insurance markets. HDFC Life has already emerged as the premier life insurance provider in the India and Asian-Indian markets. We also have made significant inroads in the Hispanic, Korean and Vietnamese markets, and we recently created a division to support agents who work in the African-American market. In each of these markets, we work to establish the company brand and help agents drive sales through advertising and promotional activities.
HDFC Life Cultural Markets Internet Sites: • Asian-Indian Market: [pic] • Chinese Market: [pic] • Hispanic Market: [pic] • Korean Market [pic]
HDFC Life Asian-Indian Cultural Market Ads: • At school • At the beach • At the river • Waterfall • Street dancing • Hide and seek • Leap frog
Women's Market:
Women comprise 51% of the Indian population, they live an average of six years longer than men, and their incomes are growing faster than men's. Yet, on average, insured women own just over half the amount of life insurance coverage owned by men. To take advantage of this lucrative market opportunity, HDFC Life develops and implements strategies to increase sales to and by women.
The Women's Markets Division of the Agency Department is creating opportunities for women agents and field managers at HDFC. At the same time, we are committed to helping HDFC Life penetrate the market for female consumers. We will design programs to attract and develop female agents, encourage and accelerate women's rise in management and increase women’s awareness of our products in the marketplace.
If you've ever wondered what a management career at HDFC Life would be like listen to the inside story from women who have met the challenge of leading others, and succeeded: