Is Honeymoon Over for Insurers in India
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Case Code: INS030 Case Length: 03 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available |
Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: - |
Abstract Case Intro
Home Life Insurance was established in India with its headquarters in Kolkata. Ramakanth Desai (Desai) is the chairman and managing director of the company. Desai started his career as an underwriter for M & O Life Insurance in London. Later he moved to the US and spent a considerable time there before returning to India. Inspite of several years of experience abroad, he is having a tough time as the head of Home Life Insurance in India.
While the insurance sector is showing a substantial improvement in the growth rate, the growth at Home Life is still low. Home Life offered innovative products but most of them were not received well by the market.
Though it is too early to say that the company is in a crisis, he is sure that the company will run into trouble if the situation continues.
One day Desai met his childhood friend Vivek Jain (Jain), who is the director of Apna Bank in Maharashtra. Seeing Desai disturbed, Jain asked him the reason for it.
Desai said, "I am trying my level best to improve sales but I see no major improvements."
Jain was surprised and asked, "But why? The other insurance firms are registering high growth rates." ...
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