US Insurers Looking Towards Indian Insurance Market
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Case Code: INS038 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
Samson Insurance Company is one of the leading life insurance companies in the US. Because of the slump in the insurance industry after the terrorist attacks on the World Trade Center (September 11, 2001), the company's top management decided to extend its operations to developing countries.
After examining the opportunities in different markets, most of the managers agreed that India was one of the best markets for insurance.
Since there is a restriction on equity investment by foreign insurance firms in India, Samson Insurance decided to tie up with a domestic firm (the cap for equity investment by foreign firms is 26 percent). The firm hired VC Nelson, a global consultant which had operations in India, to find a partner for the joint venture. Samson also requested VC Nelson to find out whether the Indian insurance market could accommodate so many players in the insurance industry and whether it would be profitable for Samson to enter the Indian market. The company also requested information on the products available in the Indian market so that it could formulate its marketing strategy...
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