Professional Documents
Culture Documents
List of Life Insurance Companies in India
List of Life Insurance Companies in India
8303098398
Faizanhussain48@gmail.com
Chapter I - Introduction
Chapter II Review of the related literature
Chapter III - Research methodology
Chapter IV Bibliography
Introduction
All private life insurance companies and public sector Company operating in India
during 2000-01 to 2009-10 was taken for the study. Life Insurance Corporation
which is the only public sector life insurer and twenty two private sector life
insurers, most of them joint ventures between Indian groups and global insurance
giants, were taken for the study.
The Government having tried various models for the insurance industry such as
privatization with negligible regulation (pre 1956) and nationalization (1956- 2000)
and having observed sub optimal performance of the sector, resorted to adopting a
hybrid model of both these, resulting in privatization of the sector with an efficient
regulatory mechanism (post 2000). This was initiated with the aim of making the
industry competitive so that there are more players offering a greater variety of
products over a large section of the population. The following companies are
entitled to do insurance business in India.
List of Life Insurance Companies in India
NAME OF PRINCIPAL
OFFICER
Mr Pankaj Razdan
Dhulipala SAISRINIVAS
MD & CEO
NAME OF APPOINTED
ACTUARY
Srinivasan Parthasarathy
SATYAN JAMBUNATHAN
B.N.Rangarajan
they have offered new innovative products for different segments of the population
with a wide variety of benefits like premium rates, rider options, maturity periods,
etc. This has resulted in a huge competition among public and private players. Due
to this, private players are adopting every possible strategy to enhance service
quality and to retain their customer for a longer period. Offering variety of policies
with low premium, better communication, consistent post-sale services, human
approach, immediate attention, less formalities, timely reminder of premium dues
and claim settlement procedure are the factors which influence the customers
satisfaction on private life insurance companies (Dinesh et al. 2011; Push Deep
Dagar and Sunil Phougat, 2011; Nageswara Rao, 2006; Sudarsana Reddy, 2005).
Apart from these, there exist other factors which also lead to customer satisfaction
in life insurance. In this background, an attempt has been made in this chapter to
summarise the results of the study which are carried out in India as well as abroad
with regard to the policyholders satisfaction on the services of life insurers. Foreign
studies are presented first, followed by Indian studies.
Research Methodology
Type of research Description of the conditions as it exists presently. Includes desk
research.
RESEARCH DESIGN - a Research design is a plan of action to be carried out in
connection with a research project. It is the conceptual structure within which
research is conducted and it constitutes the blue print for the collection,
measurement and analysis of data. It is the specification of methods and procedures
for acquiring the information needed for solving the problem. Decisions regarding
what, where, when, how much, by what means concerning an inquiry or a research
study constitute a research design.
OBJECTIVES OF THE STUDY - the objectives of the study are as follows: To
understand the concept and mechanism of insurance. To compare and analyze
the financial performance of private sector life insurance companies and Life
Insurance Corporation of India. To predict the volume of new business and total
premium of life insurance companies in India. To compare the cost efficiency of
life insurance companies in India.
Bibliography
A.K. Jain (2004) The Journal of Insurance Institute of India, Vol. XXX, pg. 53.
K. Shukla (2006) The Journal of Insurance Institute of India, Vol.XXX, Jan.June 2006, pg. 10.
A.V.Narsimha Rao (1998) Disclosures and Concealments: Legitimate
Reflections on Insurance Contracts, the ICFAI University Press.
Aaron H. J (1966) The Social Insurance Paradox Canadian Journal of
Economics and Political Science, Vol. 32.
Amit Bhargava (2002) Insurance Law Manual Taxman Publications, Haryana.