{"title":"竞争市场中耐久性的基础再造:以印度人寿保险公司为例","authors":"U. N. Shukla","doi":"10.1504/ijtcs.2015.074602","DOIUrl":null,"url":null,"abstract":"The Indian life insurance industry witnessed a monopoly period till the year 2001 when a state owned company, Life Insurance Corporation of India (LIC), was the only player in the Indian market. Scenario got changed all of a sudden in the year 2000 after the privatisation of the insurance sector when foreign players were allowed to enter through joint ventures with Indian companies. This came as a major issue in competitive market in front of LIC to face the challenges given by the companies equipped with global expertise and modern technology as LIC had been a traditional Indian company enjoying a non-competitive, protected market since decades. Consequently, post liberalisation market share of LIC got significantly declined in the next couple of years. A complete overhauling of the system was required to meet the hard-hitting challenges. Rudimentary re-engineering of the entire system was the only remedy to crack the issue to increase insurance penetration and to remain as a market leader.","PeriodicalId":253960,"journal":{"name":"International Journal of Teaching and Case Studies","volume":"1 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2016-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"Fundamental reengineering for endurance in competitive market: a case study of life insurance corporation of India\",\"authors\":\"U. N. Shukla\",\"doi\":\"10.1504/ijtcs.2015.074602\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The Indian life insurance industry witnessed a monopoly period till the year 2001 when a state owned company, Life Insurance Corporation of India (LIC), was the only player in the Indian market. Scenario got changed all of a sudden in the year 2000 after the privatisation of the insurance sector when foreign players were allowed to enter through joint ventures with Indian companies. This came as a major issue in competitive market in front of LIC to face the challenges given by the companies equipped with global expertise and modern technology as LIC had been a traditional Indian company enjoying a non-competitive, protected market since decades. Consequently, post liberalisation market share of LIC got significantly declined in the next couple of years. A complete overhauling of the system was required to meet the hard-hitting challenges. Rudimentary re-engineering of the entire system was the only remedy to crack the issue to increase insurance penetration and to remain as a market leader.\",\"PeriodicalId\":253960,\"journal\":{\"name\":\"International Journal of Teaching and Case Studies\",\"volume\":\"1 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2016-02-08\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Teaching and Case Studies\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1504/ijtcs.2015.074602\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Teaching and Case Studies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1504/ijtcs.2015.074602","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Fundamental reengineering for endurance in competitive market: a case study of life insurance corporation of India
The Indian life insurance industry witnessed a monopoly period till the year 2001 when a state owned company, Life Insurance Corporation of India (LIC), was the only player in the Indian market. Scenario got changed all of a sudden in the year 2000 after the privatisation of the insurance sector when foreign players were allowed to enter through joint ventures with Indian companies. This came as a major issue in competitive market in front of LIC to face the challenges given by the companies equipped with global expertise and modern technology as LIC had been a traditional Indian company enjoying a non-competitive, protected market since decades. Consequently, post liberalisation market share of LIC got significantly declined in the next couple of years. A complete overhauling of the system was required to meet the hard-hitting challenges. Rudimentary re-engineering of the entire system was the only remedy to crack the issue to increase insurance penetration and to remain as a market leader.