General insurance Can insurance company be feasible in the rural places?

[sincerem]

I understand that most businesses are located in the city where population count is much. But still, rural areas can't be overlooked cos people still live there, even if it's not populated like it's opposite number "urban. I'm thinking, if insurance company can be feasible also in the rural areas to ease the burden of travels to those rural citizens from making long journeys to the urban areas to get insurance cover.

I understand, Insurance company can thrive better in the urban areas than rural areas when it comes to having customers. But it will face less competition like those ones in the urban are competing among themselves. Don't you think so? I believe it will be profitable to own one in the rural area.

 

[btaliat]

Localization of business matters in any business that we may want to establish. Locating insurance company in the rural area is like selling TV in a blind people city. They don't value insurance and they don't see it as what they csn benefit for. This is because in the most rural areas, shelter, food and clothing are the major concern

 

[Mandy96]

Even the banking sectors does not overlook the rural areas not to talk of the insurance organizations, all that is really needed is to enlighten this people about what it is all about because most of these people might need it but won’t have the chance of getting introduced to it

 

[btaliat]

Even the banking sectors does not overlook the rural areas not to talk of the insurance organizations, all that is really needed is to enlighten this people about what it is all about because most of these people might need it but won’t have the chance of getting introduced to it

Insurance is about securing oneself from impending risk that one thought may likely to happen. In the rural area, there is less tendency that what one think may happen will happen. The only insurance that can be promoted in the rural area is the life assurance. You can't say auto because most of the rural dweller don't even have one.

 

[sincerem]

Localization of business matters in any business that we may want to establish. Locating insurance company in the rural area is like selling TV in a blind people city. They don't value insurance and they don't see it as what they csn benefit for. This is because in the most rural areas, shelter, food and clothing are the major concern

You're right dear, carrying insurance company over to the rural area is simply like putting a blind man in the TV screen, he won't know the benefit of what you brought him for. That's simply how insurance operated too, those in the rural area won't know it's benefits, they'll simply overlook it simply because of ignorance. And that's a loss to an insurance company owner.

 

[Jamoflondon]

Insurance companies will surely gain more clients in the rural areas because usually it has more subscribers in the urban so if you run the business, you can think smart and make the effort of gaining the heart of the small communities, you can just set up a team of people to helps you tell them about it being in more customers and more profits for your company

 

[Wisdom01]

It's better to just launch it in a urban areas , because in a rural area there is possiblity of the person not gaining any customers , , because the people insuring are not too educated about insurance companies and policies , but in urban areas even if there is competition there is possiblity of you gaining little customers atleast it's better than none