By Novi Dewan (auth.)
ISBN-10: 3834909467
ISBN-13: 9783834909466
ISBN-10: 3834997889
ISBN-13: 9783834997883
Due to its huge inhabitants, sound fiscal basics, dynamic advancements within the assurance regulatory framework and an expanding knowledge among Indians concerning the relevance of insurances, India deals broad possibilities for industry access and enlargement within the coverage undefined.
"The ebook unearths insightful rules concerning the Indian assurance besides a dialogue at the most sensible practices of the promoting combine. Novi's remarkable thesis, which kinds the root of this e-book, triggered me to give a contribution to her study with an India point of view. i'm yes that this ebook can be a big reference fabric for rising markets with comparable progress dynamics."
Trevor Bull,
handling Director
Tata AIG lifestyles assurance corporation Ltd.
“The research offered sticks out via being in keeping with an intensive figuring out of India and the lifestyles and medical health insurance investigated.”
Professor Dr. Martin Fassnacht
affiliate Dean and Endowed Chair of Marketing
WHU – Otto Beisheim tuition of Management
“Only only a few insurance firms rather keep on with a robust market-driven procedure. I ponder this e-book a must-read for assurance executives, not just in case you have an interest within the Indian marketplace yet for all of these who are looking to instil extra market-orientation into their organisations.”
Dr. Dirk Schmidt-Gallas
companion and worldwide Head of coverage
Simon-Kucher & Partners
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Additional info for Indian Life and Health Insurance Industry: A Marketing Approach
Sample text
However, the declining birth rate and aging population of Japan have created a substantial alteration in the insurance needs of the Japanese. As the consumer demographic diversifies, companies need to widen their insurance packages, particularly with regard to life insurance. Nippon Life Insurance Company, the leading insurance company in Japan and Asia-Pacific, is responding to this by focusing more on their medical insurance plans as opposed to death protection. 5% increase on the previous year, a recovery from the declining revenues Nippon Life Insurance Company faced in the previous fiscal year.
14. Specifying the percentage of life insurance business and general insurance business to be undertaken by the insurers in the rural and social sector. As part of the initiatives to increase the spread of insurance to rural and socially backward sectors, the Authority notified the Regulations on obligations of insurType of Investment Percentage 1 Government Securities 25% 2 Government Securities or other approved securities (Including 1 above) Not less than 50% 3 Approved investments as specified in Schedule Infrastructure and Social Sector: Explanation: Infrastructure and Social Sector shall have the meaning as in given in regulation 2(h) of IRDA (Registration of Indian Insurance Companies) Regulations, 2000 and as defined in the IRDA (Obligations to Rural and Social Sector) Regulations, 2000 respectively.
75% in 2005–2006. Despite liberalization and thus increased competition on account of new entrants, LIC continues to maintain its position, profitability, government obligations and is also successfully achieving mammoth growth rates despite its colossal base. A critical analysis of LIC’s strategy in lieu of the generic methods of competition proposed by Michael Porter would thus be of immense help as it serves amongst areas of learning for the rest of the industry. Management in Action: Best or Worst Practices – LIC’s Strategies On opening up of the insurance market, whichever offers the same product at the lowest premium would thrive and prosper.