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.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Understand the level of competition prevailing in the Indian insurance industry
• Discuss strategies and plans to counter the moves of competitors
• and 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