The life insurance industry in India has registered an impressive
growth since the beginning of 21st century. The market has
witnessed dynamic changes including entry of a good number of
global players. Life insurance is a big business opportunity in
India with a large population and untapped potential. By 2020
financial year, the Indian insurance market is projected to grow
six to eight times the size of market in 2010 financial year.
Unlike many other commercial products, life insurance goes a long
way in providing financial as well as social security to the
individuals and their families especially in underdeveloped regions
where a significant proportion of population is underprivileged.
Hence, there is a greater need to reengineer the life insurance
marketing practices in the context of realisation of the overall
goal of inclusive development. This book attempts to identify and
analyse the marketing practices being adopted by the LIC at the
national level with special reference to Mizoram. The study also
covers the new players entered in life insurance business. The
study's special focus is on the period since 2000, the time new
competitors started entering the business.
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