Life Insurance Marketing in India (B) The Changing Distribution Norms

  
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To download Life Insurance Marketing in India (B) The Changing Distribution Norms case study (Case Code: MKTG027) click on the button below, and select the case from the list of available cases:



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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 : MKTG027 For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Rs. 25 for Shipping & Handling Charges

Themes

Distribution
Case Length : 10 Pages
Period : 2000 - 2002
Pub Date : 2002
Teaching Note : Available
Organization : ICICI Prudential, Max New York Life, ETC
Industry : Insurance
Countries : India

Abstract:

The case is the second of a three-part series on the changes sweeping the Indian insurance industry (in particular, the marketing of insurance products) after the sector was opened for private players in 2000. The case examines the distribution strategies, specifically the bancassurance channel adopted by the new, private players. A brief history of the Indian insurance industry before 2000 is provided, highlighting the absence of a variety of distribution channels and the important role played by individual agents in distributing insurance products in India. The case provides a detailed account of the kind of distribution channels available in the insurance market and the new methods of distribution being adopted by various players.

The case also discusses the changes being made by LIC to remain competitive, and examines the implications of the industry-wide changes in distribution practices on the insurance business.

Issues:

» Discuss LIC's stranglehold on the market and the reasons for its total reliance on the agency approach for selling its products.

Contents:

  Page No.
Revamping Distribution 1
Background Note 1
Distribution Initiatives of The New Players 4
What Lies Ahead 6
Exhibits 7

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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