Professional Documents
Culture Documents
Working Of Insurance
Products
Life Insurance Corporation
Children plan Plans for handicapped dependents Endowment assurance plans. Plans for high worth individuals. Money back plan. Special money back plan for women. Whole life plans. Joint life plans, Pension plans.
SWOT Analysis
STRENGTHS Largest stateowned life insurance company in India, and also the country's largest investor Has over 2000 branches across all parts of India and more than 10,00,000 agents. WEAKNESS It has an image of a Government agency and hence lacks innovation Being a Government agency , red tape causes problem. STRENGTHS WEAKNESS
Strong Tie Up
Brand Equity Strong Network Huge Customer Database Strong
Low Customer
Awareness Less Promotion Untouched Rural Population
Financial Base
OPPURTUNITIES Use of Technology to provide effective services to cater to urban population. Government Schemes implementation
THREATS
OPPURTUNITIES
Economic crisis Entry of new NBFC in the sector Varying Government policies Large uninsured Population Network Building Targeting Rural
THREATS
Competitors. Customers belief in LIC Faster Turnover of Employees
Segment
Future Aspects
Life Insurance Corporation
ICICI Prudential Life Insurance
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