Bridging the gap in RURAL MARKET: A study on technology use by banking and insurance sector

Abstract

The rural potential is still underestimated by the marketer. The lifestyle is changing along with the flow of money from the different sources. A rapid growth is seen in the literacy level of the rural people but still the use of marketing strategies by retailers has not exactly touched the life of the rural people. Technology plays an unavoidable part in modern banking and Insurance sector. Online baking, ATM and wire transfer are excellent examples of banking of 21st century and technology is the soul of these entire phenomenon. Combines a variety of software and hardware sure the technology exists to do the job of an insurance agent is easier. Book Smart Port Agency, AMS Transit Server Service, PACT accelerator, Turbo Storm and comparative rating system TurboRator insurance and management systems are some of the major insurance technologies that allow agents to reduce the input and output processes, allowing the agents to generate more revenue.

Key Words: Technology, Banking, Insurance.