Caselet Code : CLSM034
Publication date : 2005
Subject : Services Marketing
Industry : Insurance
Length :
 04 Pages
Price :  Rs. 100 (Detailed Pricing Info)

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Abstract

This caselet discusses the approach of Max New York Life (MNYL) to become a leading player in the life insurance segment of India. It talks about the training methodologies and process improvements undertaken by the company. The distribution system developed by MNYL has been discussed both in rural and urban markets. The product differentiation strategies followed by MNYL also form a part of this caselet.


Issues:

» Need for SWOT analysis before planning competitive strategies.

»  Importance of training in Life Insurance Industry

»  Impact of a wide distribution network

»  Product differentiation in Life Insurance

Key words:

Max New York, LIC, Insurance, Training, Agents, Franchisee, Bancassurance, Policy, Rider, Distribution.

Questions for Discussion:

1. With the advent of private insurance players in India, how did Max New York Life decide upon its plan to gain market share in the country?

2. What was the marketing plan and strategy used by MNYL to increase its business in Life Insurance. Discuss with reference to product differentiation and process improvements made by MNYL.