Strayer University Global Logistics System Discussion
What have you learned from the Tio case to help you develop strong partnerships in the future?
I learned from the Tio case about how people should explore new opportunities because as known the other side to being focused is having no focus at all. A lot of people do not have opportunities in their life simply because they do not make any decisions. In the above example with the law student, this person should only stop from going to law school if they know they will hate it. If they are unsure or hesitant, they should go for it. This logic applies in business adventures as well as in real life.
Who are your Key Partners? Why?
My key partners are categorized as below: Channel and distribution partners: This include third party intermediaries of insurance companies like agents, brokers, banks, independent consultants that work on the behalf of insurance companies in providing products and services of them and also, expand the market reach of insurance companies. As known, different banks and insurance companies have a partnership for selling insurance products of insurance companies to clients of banks. This partnership is termed as Bancassurance.
Strategic and Alliance partners: This includes different companies that have a tie-up with insurance companies for projects related to the marketing and branding of insurance companies.
Community and Social partners: Various charitable and non-profit organizations are partners of insurance companies for community and social projects.
Who are your Key Suppliers? Why?
Insurance agents and brokers: The insurance agents and brokers are the main suppliers, especially life insurance. These are the 1st point of contact for customers who are looking for insurance. These agents and brokers facilitate customers in selecting the best insurance cover by providing all necessary information. According to the research, Insurance agents usually work for a particular insurance company and sell the insurance products of that company only. Wherein, insurance brokers serve customers who are looking for insurance and so these brokers are associated with multiple insurance companies to sell their products.