Increasing spend on training and new product development may accelerate business volume growth In the last few years ending FY, LIC has been spending increasing amounts on training and new product development. Though the details of amounts spent on these heads is not revealed, one can infer, from the quantitative disclosures such as number of persons trained and new products launched, that the spending on these heads is increasing.
As a result, when there is a withdrawal of foreign portfolio investments from Indian equity and debt markets, investment returns booked by LIC are likely to suffer.
LIC is the leading player in the Indian life insurance market, generating a In group insurance premium the market share increased to It is headquartered in Mumbai, India and employedpeople as on 31st March, Being the dominant player in Indian life insurance market, LIC has scope to increase its revenue and profits.
The market share of LIC increased to The group generates core revenues through four operating business divisions: Though, coordinated actions by several governments did restore some confidence in the market, market participants are still jittery. But private players have moved aggressively, chasing for business after being allowed to compete with LIC in Strengths Dominant market position in Indian life insurance market LIC, once a monopoly in Indian life insurance market, still commands a dominant position.
Increasing deficit prompts the government of India GOI to extract higher returns from its investments in LIC and other partly or fully owned entities. This type of ownership has both advantages and disadvantages.
Visit our website http: Thus it enjoys economies of scale benefits. In terms of number of lives insured, LIC is unrivalled with more than million lives.
Moreover, Indian government owned general insurers are planning to enter health insurance through joint ventures with American insurance companies. As on 31st MarchLIC had 8 zonal offices, divisional offices, 2, branch offices and 1, satellite offices SOs.
Opportunities Continued growth in Indian life insurance market According to MarketLine, the Indian life insurance market shrank by 0. After the opening of life insurance for private sector, LIC has diversified its policy distribution channels.
A small trigger in Greece public debt retirement caused a spike not only in Europe but also across several other connected countries. Since, the opening of life insurance market to private players, there is a significant change perceived in the balance of advantages and disadvantages to the latter.
LIC commands a dominant position with a market share of The company primarily operates in India. Increasing GOI revenue deficit India is projected to have a fiscal deficit of 5.
Diverse products, customer base, and channel partnerships sustain premium collection LIC product portfolio nearly covers the entire spectrum of life insurance products available on offer in India.
Increasing competition on one hand reduces profit margins and on another hand reduces market potential per player. The group recorded revenues of INR2, The training imparted to agents and employees helps the group in increasing the success of new product launch, in retaining their client base, and also in increasing their business volume per client.
Volatility in global financial markets may affect Indian equity and debt market performance Global financial markets have been volatile since the onset of subprime crisis.
Even after liberalization of life insurance market in India, LIC continues to be a dominant force due to its perceived backing of Indian government, and also due to its agency strength that stood at 1, as on end March Though as a percentage of budgets, deficit is declining, it is actually increasing significantly in terms of actual number.
Threats Increasing competition likely to reduce profit margins Competition in Indian life insurance market has intensified in the recent years. The plan offers comprehensive hospitalization benefits for the whole family of the principal insured.
Diverse products, customer base, and channel partnerships of LIC sustain its premium collection momentum. Life insurance is the largest segment of the life insurance market in India, accounting for The operating profit was INR2, Within these divisions, it provides several products suited to the needs of its constituents.The Life Insurance Corporation of India (LIC or “the group”) is primarily a life insurance service provider.
LIC commands a dominant position.
Life Insurance And Swot Analysis Commerce Essay. Print Reference this the Indian insurance industry was run by the government for over 40 years through the life insurance corporation of India' (LIC) and four general insurance companies that spanned the length and breadth of the country.
decision theory, and computer system analysis each. Life Insurance Corporation of India (LIC) SWOT Analysis.
Strengths. 1. Largest state-owned life insurance company in India, and also the country's largest investor 2. Has over branches across all parts of India and more than 10,00, agents. 3. With Largest fund base it is the biggest investor in India 4. Has overemployees across. // LIC of India SWOT Analysis;Jan, p1 A business analysis of Life Insurance Corp.
of India, which is a health insurance company, is provided, focusing on its strengths, weaknesses, opportunities for improvement and threats to the company. "This paper analyses and discusses SWOT of LIC, its growth in market, its comparison with its competitors in insurance market and its products with its target customer.
This report is presented in very simple and understandable language on the basis of. Life Insurance Corporation of India (LIC), owned by the Government of India, is a provider of life insurance plans.
The company offers endowment plans, money back plans, term assurance plans, pension plans, special plans, unit plans, group schemes, child plans, and health insurance mi-centre.com: €Download