While going the article "India's next generation of leaders need the right software and hardware: Harish Manwani, HUL" in ET - Corporate Dossier 3rd August 2012 came across a comment from Harish - "There is a popular saying that goes: think global, act local. That's
rubbish. There is no such thing as a global company. Always, always
think local. When I come to Gujarat, I put the power of this $60 billion
enterprise to work for the Gujarati consumer. How else can you be
successful?"
Immediately my thoughts went to the way Insurance companies are operating in India. Majority of the companies have their contract documents in English. How can Aaam Adami (common man) understand in the first place the complex terminology of insurance - exclusions, riders and what'nt and icing on the cake - its not in vernacular.
Acknowledge that insurance companies are taking steps to service in vernacular - IVRS in local languages, premium notices etc. These are communications sent to the customer post the sale.
There is immediate need to send the first communication (i.e., policy documents - basis for contract) also be sent in vernacular.
Immediately my thoughts went to the way Insurance companies are operating in India. Majority of the companies have their contract documents in English. How can Aaam Adami (common man) understand in the first place the complex terminology of insurance - exclusions, riders and what'nt and icing on the cake - its not in vernacular.
Acknowledge that insurance companies are taking steps to service in vernacular - IVRS in local languages, premium notices etc. These are communications sent to the customer post the sale.
There is immediate need to send the first communication (i.e., policy documents - basis for contract) also be sent in vernacular.
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