Volume : V, Issue : X, October - 2016

GROWTH AND PERFORMANCE OF LIFE INSURANCE INTERMEDIARIES: A STUDY OF POST REFORM PERIOD

Chandan, Dr. R. S. Arora

Abstract :

 Before liberalization only one public life insurance company called Life Insurance Corporation of India was operating in the country. The business of LIC was mainly procured by individual life insurance agents and the company never tried new and innovative channels of distribution. The life insurance industry in India has faced tremendous change especially in the distribution channels after the liberalization when new private life insurance players came in the industry. The private players started procuring business through new distribution channels namely corporate agents, banks, okers etc. to give competition to LIC. As a result of this LIC also started taking help of these new channels. Thus the present study is an attempt to analyse the role of different distribution channels (also called intermediaries) in the growth of life insurance business. The study revealed that the north–eastern states of the country had very less number of life insurance intermediaries. It was also found that in LIC’s individual new business, agents remained most important while in case of private life insurers banks and direct selling also played significant role along with individual agents.

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Article: Download PDF   DOI : 10.36106/ijsr  

Cite This Article:

CHANDAN, Dr. R.S. Arora GROWTH AND PERFORMANCE OF LIFE INSURANCE INTERMEDIARIES: A STUDY OF POST REFORM PERIOD International Journal of Scientific Research,Volume : 5 | Issue : 10 | October 2016

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