Product details

By continuing to use our site you consent to the use of cookies as described in our privacy policy unless you have disabled them.
You can change your cookie settings at any time but parts of our site will not function correctly without them.

Abstract

Until the mid-1990s, the Indian insurance industry was characterised by a single government insurer only. However, with the liberalisation of the Indian financial sector, India's insurance industry had undergone a drastic change with the entry of various private life insurance companies. Private life insurance companies in India had gained a foothold due to their highly customised products and aggressive marketing strategies. Moreover, a law had already been proposed which would increase the foreign investment in an Indian insurance firm from 26% to 49%. This would enable private insurance companies to attract more foreign investment and upgrade their products and technologies. However, the private life insurers in India had to face several challenges in selling their products in the Indian insurance market. The major reason was their tough competition with the Life Insurance Corporation of India, which was the major player in the Indian insurance sector. Therefore, it remained a moot point whether these private life insurance players would be able to overcome the challenges and maintain their growth momentum in the coming years.
Location:
Industry:
Other setting(s):
2006-2007

About

Abstract

Until the mid-1990s, the Indian insurance industry was characterised by a single government insurer only. However, with the liberalisation of the Indian financial sector, India's insurance industry had undergone a drastic change with the entry of various private life insurance companies. Private life insurance companies in India had gained a foothold due to their highly customised products and aggressive marketing strategies. Moreover, a law had already been proposed which would increase the foreign investment in an Indian insurance firm from 26% to 49%. This would enable private insurance companies to attract more foreign investment and upgrade their products and technologies. However, the private life insurers in India had to face several challenges in selling their products in the Indian insurance market. The major reason was their tough competition with the Life Insurance Corporation of India, which was the major player in the Indian insurance sector. Therefore, it remained a moot point whether these private life insurance players would be able to overcome the challenges and maintain their growth momentum in the coming years.

Settings

Location:
Industry:
Other setting(s):
2006-2007

Related