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Establishing presence in and managing a new location with increasing market competition
- Recruitment & retention of quality MAPs, Agency Partners & Advisors is a key challenge
owing to competition. For APs & Advisors it may not be the sole source of income, and
hence the motivation to become Agency Partners & Advisor may be low.
- Dependency on support functions for the issuance of policies & delivery of policies can
impact client relationships.
- Fluctuations in the market, compliance & very frequent change in IRDA guidelines is a key
challenge since it can impact sales directly.
