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Topic : banking & insurance industry
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Insurance Co.s Enter In Traditional Plans

Created by : Vipin Bhasin, Private Equity/Hedge Fund/VC-Manager, Indian Investment Co.  | 05 30 2010 06:48:43 +0000
Industry : InsuranceFunctional Area : Performance(Corporate Finance)
Keywords : india insurance competition traditional lic
Activity:  283 views;  last activity : 07 06 2010 20:18:09 +0000
At last all other Insurance companies joining the same concept like LIC. Now after too much ULIPs they started traditional plans like LIC. It means they are also provide assurance of a fixed return on investment. It will create a more competition with in market even with LIC. Because LIC en-cashed the market on the behalf of traditional plans. Although LIC is big giant but there maybe tough competition in future......... lets discuss the future prospect whether LIC face more competition or it wont effect on LIC.
 
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More Competition With LIC Vs No Effect On LIC
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According to my view LIC will face tough competition in near future in Insurance sector. Because we already saw that all other companies made his good position in ULIPs selling or we can say that the share of market has already divided. But the main business of LIC came from traditional plans which was not introduced by other companies. It means now if we are interested to invest Rs. 3000 per year then we can also go for another company rather than LIC monopoly.. It shows that we will see more competition between insurance companies in India in near future.
By Vipin Bhasin, Private Equity/Hedge Fund/VC-Manager, Indian Investment Co.  | 05 30 2010 06:48:43 +0000
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Even LIC, though late, satarted selling of ULIPs to remain relevant in the market.

Now, that the darker sides of ULIPs made known and IRDA tightening their grip on ULIP selling Insurance Cos, all are bound to re-start selling of "pure Insurance" products.

These may re-shape the Insurance market as Agents are to be in the field afresh with normal/ nominal commissions ( if not abolished, as sought ) and make marketing in traditional vanila products in hands ( The real market-catchers are Agents ..! ).

In all situations, as "Insurance" is to be made more acceptble options for the general people, the market may enlarge further making benefit available for all Insurance-houses, including LIC.
By ASOKE KUSARI, Domestic Private Banking-Executive/Manager, A large leading PSU Bank - India  | 05 30 2010 12:35:26 +0000
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