Marketing Strategies in the Indian Insurance Market


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Please note:

This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.

Case Details:

Price:
Case Code : INS016 For delivery in electronic format: Rs. 100;
For delivery through courier (within India): Rs. 100 + Rs. 25 for Shipping & Handling Charges

Themes

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Case Length : 04 Pages
Period : 2003
Pub Date : 2003
Teaching Note : Available
Organization : Varied
Industry : Insurance
Countries : India

Abstract:

These caselets examine the growing competition in the Indian insurance sector with the entry of private players (after liberalization of the sector), and the alarm it gave to Life Insurance Corporation (LIC), the public sector giant in India.

Caselet 1 discusses the key marketing strategies that Life Insurance Corporation (LIC) should adopt to withstand the competition.

Caselet 2 focuses on the kind of customer service that LIC should provide, and the extent to which it should use information technology, in order to achieve its objectives. This caselet also covers the difficulties faced by Life Insurance Corporation in using information technology.

Issues:

» Understand the level of competition prevailing in the Indian insurance industry

» Discuss strategies and plans to counter the moves of competitors

» Understand the threat to the Life Insurance Corporation (LIC) posed by potential competitors

Keywords:

Competition, Indian insurance sector, entry, private players, liberalization, sector, Life Insurance Corporation, LIC, marketing strategies, customer service, information technology

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