case study of insurance company in india

The LIC had a total life fund of $28.3 trillion as of 2019. In the 2018-19 fiscal year, the total value of sold insurance was $21.4 million. In 2018-19, LIC resolved 26 million claims. With 290 million policyholders, it is the largest insurance company in the world. The Life Insurance Corporation of India (LIC of India) is one of India's ...

Case Study: ACKO General Insurance Limited ACKO General Insurance Limited (Acko) is India's first fully digitalized insurance company of India with its entire operations offered through the digital platform. Founded in 2016 by Varun Dua and Ruchi Deepak, ACKO aims to provide conventional general insurance digitally. The company received its

In this study, we will evaluate how the insurance sector has adopted digitalization, which has increased operational efficiency and improved service delivery; this paper case study was conducted on three major leading firms in India. Hence, this study explores the emergence of digital insurance and transformation in insurance sector after ...

Case Studies in Insurance - ICMR Case Book Collection, Management of Companies, General Corporation of , Life Corporation of , Advertising, Promotion Norms, Distribution Norms, Life Product, Pricing Norms, Film Financing Operations, Assessing Loss Due to Theft, Claims for Loss to Property, Genuine or Fraudulent, Vandalism, Trends in Commercial Vehicle Claims Adjusters, Workers Compensation ...

In this case study, we will be answering such questions. The Life Insurance Corporation of India (LIC), established in 1956, is a public life insurance company headquartered in Mumbai, India. The primary objective of LIC is to enhance the quality of people's life by spreading life insurance products to the underprivileged and economically ...

O ne of India's leading life insurance companies, a joint venture between two global conglomerates, registered phenomenal year-on-year financial growth in the past few years. It aimed to be one of the top five life insurers in India in the next 3-5 years. However, controlling the attrition rate of the sales force posed to be a major hindrance and was impacting its bottom-line.

General Insurance Corporation of India - General Insurance Corporation of India, The case provides detailed information on various functional areas of General Insurance Corporation of India (GIC), the state-owned general insurance company in India including human resources and finance. The case discusses the company's history since inception, product segments including fire, marine, theft and ...

Paper Type: A Case study analysis done on the digital transformation in the HDFC ERGO general insurance company. Discover the world's research 25+ million members

» Case Studies by Company. Custom Search Please note: ... (LIC), a public sector enterprise, is the largest insurance company in India, selling insurance products and related services. In March 2001, LIC had a total asset base of Rs 1936.2 billion and a total premium income of Rs 342.07 billion. By April 2002, the total sum assured under 23.2 ...

By deploying the UiPath Enterprise RPA Platform, the company has leveraged automation for business excellence and achieved remarkable improvements in quality, scalability, and accuracy. Bajaj Allianz General Insurance is one of the leading private general insurance companies in India. It has been ranked number seven globally in a survey of 100 ...

various health insurance programs reveal differences and variations regarding their design, coverage, number of eligible treatment packages and amount of annual spending caps (Table 1). This section presents the key takeaways of the benefit packages of the various health insurance programs in India.

United India Insurance Co. Ltd. v. Levis Strauss (India) Pvt. Ltd. Civil Appeal No. 2955 of 2022 Policy type - Standard Fire & Special Perils Policy, Stock Throughout Policy, All Risks Policy

Table 2 provides insight into the performance of health insurance sector in India. The growth of health insurance in India has been from Rs.1909 crores for the financial year 2006-2007 to Rs. 33011crores for the financial year 2018-2019. The growth percentage is 1629% i.e. growing at an average rate of 135% per annum.

business, India is ranked11 th among the 88. countries, for which data is published by. Swiss Re while India ranks 21st in global. non-life insurance markets. India's share in. global life ...

The Kotak Mahindra Group is one of the leading financial services conglomerates in India and received its banking license from the Reserve Bank of India (RBI) in February 2003. The company aims to cater to a wide range of customer segment & geographies, offering an array of non-life insurance products like Motor, Health, etc.

Table 4. Insurance schemes in India cumulative (from 2009-10 to 2014-15) ..... 25 Table 5. Roles of various agencies involved in agricultural insurance in India..... 26 Table 6. Indicators to measure potential costs and benefits of agricultural insurance at household

The case provides a detailed insight into the strategies adopted by Indian insurance major Life Insurance Corporation (LIC) of India in various areas. The case provides information about the company's history, its evolution, subsidiaries and the products offered, and examines its marketing, finance, and human resources strategies.

To download Reinsurance in India case study (Case Code: INS019) click on the button below, and select the case from the list of available cases: Price: ... The insurance companies in the state are supposed to cough up around Rs150 crore to settle insurance claims of the riot-affected business establishments. This follows just after the ...

National Insurance first mentioned the delay in its reply before the NCDRC. Therefore, SC allowed Saurashtra Chemicals' appeal. New India Assurance Co. Ltd. v. Paresh Mohanlal Parmar- Supreme Court ruling. Mr Parmar bought a burglary and housebreaking insurance policy for 5 June 2003 to 4 June 2004 from New India Assurance for Rs. 20 lakh.

This marked the beginning of the privatization of the insurance sector in India. Currently, alongside the big 4, there are 24 life insurance companies and 29 general insurance companies in India. Over 2.5 crore insurance policies are sold every year with the graphs ever-rising, all of which are governed by the IRDAI Act.

Trade Credit Insurance is a business-to-business type of policy and covers debtor's inability to pay. First set up in 1957 as ECGC. In 2001, first trade credit insurance product was approved and launched. In 2019, working party group provided recommendations for 2016 guidelines.

Best Term Life Insurance Companies. We found that Corebridge Financial, Pacific Life, Protective and Symetra have the best term life insurance. Term life insurance is ideal for covering finite ...

Now boarding: Faces, places, and trends shaping tourism in 2024. Global travel is back and buzzing. The amount of travel fell by 75 percent in 2020; however, travel is on its way to a full recovery by the end of 2024. More regional trips, an emerging population of new travelers, and a fresh set of destinations are powering steady spending in ...

These caselets discuss the need and significance of reinsurance for an insurer. They also discuss how reinsurance stabilizes the loss experience of an insurer. Caselet 1 examines the social responsibility of insurance companies in India. The issues involved in settling claims after the Gujarat riots are also discussed in the caselet.

If 2023 was the year the world discovered generative AI (gen AI), 2024 is the year organizations truly began using—and deriving business value from—this new technology. In the latest McKinsey Global Survey on AI, 65 percent of respondents report that their organizations are regularly using gen AI, nearly double the percentage from our ...

In our 2024 Global Life Sciencecs Sector Outlook report, we emphasize on these key trends such as increasing pricing pressures, geopolitical environment, changes in US regulations, and the acceleration of Generative AI (GenAI) adoption to expedite drug discovery, cost reduction and revenue uplift. With geopolitical, economic, and regulatory ...