Abstract

In 2000, the Insurance Regulatory & Development Authority Bill was passed by the Government of India, throwing open the Indian insurance market to foreign players. The domestic life insurance monopoly, Life Insurance Corporation (LIC) had to take various steps to compete with the new players. The case study ‘Life Insurance Corporation’s Future Prospects’ discusses LIC’s moves after the IRDA Act was passed and examines the company’s future prospects.The case gives students an insight into the measures taken by LIC to deal with competition after the insurance sector was opened up to the private players. Finance Case Collection.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Opening of Indian insurance market to foreign players
• Incumbent reaction.

Keywords

Insurance Regulatory & Development Authority Bill, Government of India, Indian insurance market, foreign players, domestic life insurance monopoly, Life Insurance Corporation, LIC, Life Insurance Corporation, Future Prospects, IRDA Act, LIC, insurance sector