Abstract

The case is the last of a three-part series about the changes sweeping the Indian insurance industry on the marketing front after the sector was opened up for private players in the year 2000. The case examines the pricing and product development strategies being adopted by the new, private players. A brief history of the Indian insurance industry before 2000 is provided, which highlights the lack of innovative product development strategies and consumer-friendly pricing practices in the Indian insurance industry. The case provides a detailed account of the kind of products that private players and the pricing strategies they adopted. The case also discusses the changes taking place within LIC and examines the implications of the changes in the pricing and product development strategies, taking place all over the insurance industry.

Learning Objectives

The case is structured to achieve the following Learning Objectives:

• Insurance products, their features, product development and pricing.

Keywords

Indian insurance industry, marketing front, sector, private players, year 2000, pricing, product development, private players, Indian insurance industry, 2000, lack of innovative , product development strategies, consumer-friendly, pricing practices, Indian insurance industry