How to Improve the Program
Nowadays, the life insurance business depends on the ability of organizations to build a relationship with vision and clients. The purpose of a life insurance organization is to help prospects and clients get solutions designed to mitigate their financial risks and help protect them in the future. However, the modern life insurance sector has been plagued by a crisis in recent times. The Global Financial Crisis in 2008-2009 was caused by a series of organizational and global failures. Some clients had invested in life insurance cover only for their benefits to disappear and render their hard-paid premiums obsolete. Thus, life insurance organizations should adopt efficient and reliable public relations (PR) to salvage trust and help prospects and clients find solutions for their concerns.
PR strategists can adopt the trust practice framework to make clients trust their respective life insurance companies. First, life insurance companies should protect customers’ assets to reflect the critical role that protecting and safeguarding play in building trust. This strategy entails building wealth, reducing debts, customers’ risk management, assignment of high or low trust actors, respect of property, equal treatment of customers, and adoption of consumer champion role (Bourne, 2013). Second, life insurance companies must guarantee customers by showing evidence of certainty that they produce concrete and measure results within a certain period. Guaranteeing includes keeping promises, assessing the effectiveness of policies, production of the certification of competence, and monitoring system soundness. The third strategy is aligning their claims with government regulations by obtaining the necessary certifications and accreditation. It includes implementing codes and standards of best practices, compliance with rules and regulations, recognition and support of customer loyalty, and involvement in corporate social responsibility. Lastly, life insurance companies should simplify by explaining their operations in simple or easy terms. Simplification entails making transparent contract terms and conditions, submission and subscription of regular reports, and making and pricing accessible products. By adopting all the above strategies, companies will be able to create trust by protecting, guaranteeing performance, aligning with values, and making all products and services visible to all.
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Direct or Indirect Impact of the Global Communication Message(s)
Global communication messages have led to increasing business opportunities, fewer cultural barriers, and the creation of a global village. Global communication messages have increase business opportunities by allowing B2B and B2E communication (Greshon, 2013). Many firms recruit people living in different parts of the world. Communication tools such as emails, video calls, and phone calls make it easier for them to talk with co-workers positioned in different parts of the world. Global communication messages have also made it easier for businesses to communicate with their clients globally. For example, an international life insurance company such as Prudential can communicate with its clients in Asia and Europe.
Second, global communication messages have broken cultural barriers that existed before its advent. Culture is thought to be the cause of communication problems. For example, two people from two different cultures find it hard to communicate because of the difference in language, body language, manners, and interpretations. However, global communication messages have broken these barriers by availing tools such as the internet, television, and social media (McPhail, 2010). People in China can understand how people in Europe are faring in their day by simply watching the television and searching for the internet. Life insurances can take advantage of these broken cultural barriers by penetrating different markets.
References
Bourne, C. (2013). Reframing trust, power and public relations in global financial discourses:
Experts and the production of mistrust in life insurance. Public Relations Inquiry , 2 (1), 51-77.
Gershon, R. A. (2013). The transnational media corporation: Global messages and free market
competition . Routledge.
McPhail, T. L. (2010). Global communication: Theories, stakeholders, and trends . John Wiley &
Sons.
