Life Insurance Marketing in India (A) The Changing Advertising & Promotion Norms

            
 
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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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Case Details:

Price:

Case Code : MKTG026 For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Rs. 25 for Shipping & Handling Charges

Themes

Advertising and Promotion
Case Length : 11 Pages
Period : 2000 - 2002
Pub Date : 2002
Teaching Note : Available
Organization : ICICI Prudential, Max New York Life, ETC
Industry : Insurance
Countries : India

Abstract:

This case is the first of a series of three, about the changes sweeping the Indian insurance industry on the marketing front after the sector was opened for private players in the year 2000. The case examines the marketing strategies, specifically the advertising and promotional measures, adopted by the new private players.

A brief history of the Indian insurance industry up to 2000 is provided, highlighting the state owned insurer LIC's lack of a marketing gameplan, though it had monopolized the Indian insurance sector. This case provides a detailed account of the kind of advertisements, media channels and promotional tools that various players have adopted.

Marketing Management Case Studies | Case Study in Management, Operations, Strategies, Marketing Management, Case Studies

It also discusses the changes implemented by LIC in its promotional strategies, and examines the implications of the changes in marketing practices of Indian insurance firms.

Issues:

Understand the dynamics of the Indian insurance industry before the entry of private players as well as after liberalization allowing private players.

Contents:

  Page No.
Forced To Sell Well? 1
Background Note 1
Advertising Initiatives of The New Players 3
Implications of The 'New-Age' Marketing Intiatives 6
Exhibits 8

Keywords:

Three-part, Indian insurance, sector, private players, 2000, distribution strategies, bancassurance, channel, Indian insurance industry, distribution channels, individual agents, detailed accounts.

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