Outsourcing of Underwriting Activities in Insurance - Advantages and Disadvantages
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Case Details:
Case Code : INS045
Case Length : 03 Pages
Period : 2003
Pub Date : 2003
Teaching Note : Available
Organization : Varied
Industry : Insurance
Countries : India
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Delhi-based Bounty Life Insurance Company (Bounty) has branches all over
India and it follows an aggressive marketing strategy in order to obtain
more customers. Soon after the liberalization of the insurance sector,
Bounty started selling its products aggressively.
Initially, it made profits. In fact, the number of its customers exceeded
the management's expectations. The popularity of the company also increased.
In addition, there was a steady increase in the number of customers. The
reason was that Bounty offered innovative products that suited the varied
requirements of people. The company adopted the marketing strategy of
offering customized products. Thus, it became one of the leading insurance
companies, offering maximum number of product variants in the industry.
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Over a period of time, there was a gradual increase in the number of
players in the industry. Consequently, competition in the industry
intensified. All insurance companies in the market were struggling to
maintain and increase their market share. Despite the intense
competition that prevailed in the industry, Bounty Life Insurance
Company managed to increase its market share. Its performance in the
competitive scenario was fairly good.
However, during the last few months, its profits have decreased sharply.
The company has been facing difficulties related to administration and
interdepartmental coordination... |
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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