Product details

The case provides detailed information on various functional areas of General Insurance Corporation of India (GIC), the state-owned general insurance company in India. The case traces the company''s history since inception, product segments including fire, marine, theft and miscellaneous. The case also discusses in detail about the erstwhile subsidiaries of GIC including National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited, and United India Insurance Company Limited. The case also includes information regarding the company''s human resources and financial management strategies and its social responsibility initiatives. It covers the future prospects of GIC and problems faced by the company due to the liberalisation of the insurance industry in India. The case also discusses the change in GIC''s marketing strategies before and after the liberalisation of the insurance industry in India. It also talks about the conversion of GIC into a national re-insurer and the de-linking of the four subsidiaries from GIC. Finally, the case includes a detailed note on the general insurance industry in India. The case is structured to enable students to: (1) understand the evolution of general insurance in India; (2) understand the dynamics of the Indian insurance industry before and after the entry of private players; (3) discuss GIC''s stronghold in the market and the reasons behind the company not adopting any focused marketing plan; (4) understand the various product segments in the Indian insurance industry; (5) discuss the future trends in the marketing of insurance products in India in light of the fact that the industry seemed to be moving towards a ''buyer''s market'' from a ''seller''s market''; (6) discuss the future strategies to be adopted by the four public insurance companies to sustain the increasing competition in the liberalised general insurance industry in India; and (7) discuss the global expansion strategies of GIC as a re-insurer. The case is aimed at MBA/PGDBA students, and is intended to be a part of the strategy and general management curriculum. The teaching note does not contain an analysis of the case.