Abstract

This case is the first of a series of three, about the changes sweeping the Indian insurance industry on the marketing front after the sector was opened for private players in the year 2000. The case examines the marketing strategies, specifically the advertising and promotional measures, adopted by the new private players. A brief history of the Indian insurance industry up to 2000 is provided, highlighting the state owned insurer LIC’s lack of a marketing gameplan, though it had monopolized the Indian insurance sector. This case provides a detailed account of the kind of advertisements, media channels and promotional tools that various players have adopted. It also discusses the changes implemented by LIC in its promotional strategies, and examines the implications of the changes in marketing practices of Indian insurance firms.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Dynamics of the Indian insurance industry before and after liberalization.

Keywords

Indian insurance, sector, private players, 2000, distribution strategies, bancassurance, channel, Indian insurance industry, distribution channels, individual agents, detailed accounts.