Life Insurance Corporation of India: Future Prospects

            
 
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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.



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Case Details:

Price:

Case Code : BSTR110 Electronic Format: Rs. 500;
Courier (within India):Rs. 25 Extra
Business Strategy | Case Study in Management, Operations, Strategies, Business Strategy, Case Studies

Themes

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Case Length : 26 Pages
Period : 1992 - 2002
Organization : Life Insurance Corporation of India
Pub Date : 2002
Teaching Note : Not Available
Countries : India
Industry : Insurance

Abstract:

The case provides a detailed insight into the strategies adopted by Indian insurance major Life Insurance Corporation (LIC) of India in various areas. The case provides information about the company's history, its evolution, subsidiaries and the products offered, and examines its marketing, finance, and human resources strategies. Details about the IT initiatives taken up by the company in its technology drive are also covered. The case also provides an insight into the life insurance industry's structure in India and the changes that took place after the entry of private players into the market. The case examines how LIC is gearing up to combat the competition from private players and provides a detailed note on the Indian insurance market.


Issues:

Understand the operations of LIC and the various products offered by the company

The changes sweeping the Indian insurance industry after the entry of private players

Understand the steps taken by LIC in order to combat the competition

A general understanding of the Indian insurance market and the various private players present in the industry

Contents:

  Page No.
Introduction 1
History 2
Subsidiary Companies 5
The Post-Liberalisation Years 8
Products and Pricing 8
Technology 10
Marketing 12
Distribution 14
Customer Service 15
Human Resources 16
Future Outlook 17
Indian Life Insurance Industry 18
Exhibits 22

Keywords:

Indian life insurance industry, Life Insurance Corporation, History of LIC, Insurance Regulatory and Development Authority (IRDA), Entry of new players, Competition in the Indian insurance industry, Products and pricing, Marketing strategies, Human resources strategies, Technology usage

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