Customization of Insurance Products - A Tool for Gaining Competitive Advantage
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Case Code: INS023 Case Length: 03 Pages Period: 2003 Pub Date: 2003 Teaching Note: Available |
Price: Rs.100 Organization: Varied Industry: Insurance Countries: India Themes: - |
Abstract Case Intro
Kasturi Life Insurance Company is one of the new entrants in the insurance market. The company is headed by Josh Banerjee, with Ratan Tagore as the chairman.
The company started its initial operations in Calcutta. The company intends to slowly expand to the rest of the country. The company, which is presently offering seven products, wants to expand its product line. Its major sales come from endowment and money back policies. The company plans to increase its market share by concentrating on its strengths.
The company recently opened a branch office in Hyderabad, but it is unclear about the type of product it should launch in this new market. Banerjee met some of his friends who were working in Hyderabad to get information about the market in the state.
Later, he visited the branch office and spent a couple of days in the city to learn more about the market, the prevailing demand for different products, and the other competitors in the field.
From the information gathered, he came to know that 90 percent of the policies sold by Max New York Life were whole life policies...
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