International journal of scientific research, 2016
There is a substantial amount of debate regarding the emerging strategic and regulatory issues, a... more There is a substantial amount of debate regarding the emerging strategic and regulatory issues, appraisal of industry development, deregulation of industry and economic growth nexus, changing trend structure and innovation in post liberalization phase of the life insurance industry; however very few studies have examined varying aspects such as Concentration, Efficiency, Productivity and Innovation in respect of LIC of India in comparison with the Private Life Insurance Companies. The main purpose of this paper is to examine the brief overview of Status of LIC of India vs. Private Life Insurance companies in post liberalization phase by extracting factors.Using primary data of 552 respondents from various categories such as Intermediaries, Employees, and Customers across the nation; it wasempirically examined to extract factors that interpret a present status of LIC of India in comparison with the private life insurance players. Exploratory Factor Analysis was applied for identifyi...
Asian Journal of Research in Business Economics and Management, 2015
In the early age of human civilization, insurance was not in a form of legal contract. It was pra... more In the early age of human civilization, insurance was not in a form of legal contract. It was practiced in form of custom. Insurance evolved along with the evolution of mankind. History of evolution of life insurance in India can be devided in four parts (1) Vedic and Buddhist Period, (2) British Period (Pre Nationalization Period), (3) Post Nationalization Period (4) Post Liberalization Period. It has passed through many facet and dynamic changes, it has taken paradigm shift. Recommendation of R N Malhotra committee (1994) paved a way for the liberalization. Government of India framed Insurance Regulatory Authority (IRA) in year 1996; later IRA is renamed as Insurance Regulatory and Development Authority (IRDA) in the year 1999 with the approval of bill in parliament. Low penetration and density of life insurance in India could be seen as lucrative opportunity for foreign players to enter in the Indian life insurance industry. There were numerous benefits of the liberalization such as Knowledge Transfer, Product Innovation, Competitive Pricing, Technological Development, Improved Service Quality, Alternative Distribution Channel etc. Journey of life insurance in India, its evolution from custom to contract depicts a story of growth and development of life insurance industry and its key role in the growth of Indian economy.
This study examines the impact of liberalisation on the Indian insurance industry by examining it... more This study examines the impact of liberalisation on the Indian insurance industry by examining it in terms of its efficiency characterised by functional performance. Data of 552 respondents from Indian life insurers was used for the empirical examination. Multivariate analysis of variance (MANOVA) was conducted to test the hypotheses that the linear combinations of impact of liberalisation on the Indian life insurance industry characterised by marketing mix, service quality and insurance awareness might differentiate between groups characterised by gender, place of residence, types of relationship with Life Insurance Corporation (LIC), types of employee positions in LIC, and types of relationship with private players. The results reveal a positive impact of liberalisation on the Indian life insurance industry.
International journal of scientific research, 2016
There is a substantial amount of debate regarding the emerging strategic and regulatory issues, a... more There is a substantial amount of debate regarding the emerging strategic and regulatory issues, appraisal of industry development, deregulation of industry and economic growth nexus, changing trend structure and innovation in post liberalization phase of the life insurance industry; however very few studies have examined varying aspects such as Concentration, Efficiency, Productivity and Innovation in respect of LIC of India in comparison with the Private Life Insurance Companies. The main purpose of this paper is to examine the brief overview of Status of LIC of India vs. Private Life Insurance companies in post liberalization phase by extracting factors.Using primary data of 552 respondents from various categories such as Intermediaries, Employees, and Customers across the nation; it wasempirically examined to extract factors that interpret a present status of LIC of India in comparison with the private life insurance players. Exploratory Factor Analysis was applied for identifyi...
Asian Journal of Research in Business Economics and Management, 2015
In the early age of human civilization, insurance was not in a form of legal contract. It was pra... more In the early age of human civilization, insurance was not in a form of legal contract. It was practiced in form of custom. Insurance evolved along with the evolution of mankind. History of evolution of life insurance in India can be devided in four parts (1) Vedic and Buddhist Period, (2) British Period (Pre Nationalization Period), (3) Post Nationalization Period (4) Post Liberalization Period. It has passed through many facet and dynamic changes, it has taken paradigm shift. Recommendation of R N Malhotra committee (1994) paved a way for the liberalization. Government of India framed Insurance Regulatory Authority (IRA) in year 1996; later IRA is renamed as Insurance Regulatory and Development Authority (IRDA) in the year 1999 with the approval of bill in parliament. Low penetration and density of life insurance in India could be seen as lucrative opportunity for foreign players to enter in the Indian life insurance industry. There were numerous benefits of the liberalization such as Knowledge Transfer, Product Innovation, Competitive Pricing, Technological Development, Improved Service Quality, Alternative Distribution Channel etc. Journey of life insurance in India, its evolution from custom to contract depicts a story of growth and development of life insurance industry and its key role in the growth of Indian economy.
This study examines the impact of liberalisation on the Indian insurance industry by examining it... more This study examines the impact of liberalisation on the Indian insurance industry by examining it in terms of its efficiency characterised by functional performance. Data of 552 respondents from Indian life insurers was used for the empirical examination. Multivariate analysis of variance (MANOVA) was conducted to test the hypotheses that the linear combinations of impact of liberalisation on the Indian life insurance industry characterised by marketing mix, service quality and insurance awareness might differentiate between groups characterised by gender, place of residence, types of relationship with Life Insurance Corporation (LIC), types of employee positions in LIC, and types of relationship with private players. The results reveal a positive impact of liberalisation on the Indian life insurance industry.
Uploads
Papers by JD Chandrapal