Life Insurance Marketing in India (C) The Changing Product & Pricing 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 : MKTG028 For delivery in electronic format: Rs. 300;
For delivery through courier (within India): Rs. 300 + Rs. 25 for Shipping & Handling Charges

Themes

Pricing
Case Length : 14 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 last of a three-part series about the changes sweeping the Indian insurance industry on the marketing front after the sector was opened up for private players in the year 2000. The case examines the pricing and product development strategies being adopted by the new, private players.

A brief history of the Indian insurance industry before 2000 is provided, which highlights the lack of innovative product development strategies and consumer-friendly pricing practices in the Indian insurance industry. The case provides a detailed account of the kind of products that private players and the pricing strategies they adopted.

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

The case also discusses the changes taking place within LIC and examines the implications of the changes in the pricing and product development strategies, taking place all over the insurance industry.

Issues:

Understand the various kinds of insurance products available in the market, their features, and the reasons for the development of such products.

Contents:

  Page No.
The Changing Product Profile 1
Background Note 2
Product Innovations 4
LIC Rejigs its Portfolio 6
Future Implications 7
Exhibits 9

Keywords:

Three-part series, changes sweeping, Indian insurance industry, marketing front, sector, private players, year 2000, pricing, product development, private players, Indian insurance industry, 2000, lack of innovative , product development strategies, consumer-friendly, pricing practices, Indian insurance industry

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