WILL LIC OF INDIA TAKE A BIGGER MARKET SHARE THIS FINANCIAL YEAR?

LIC will gain more than 10% this fiscal mainly due to wrong selling by private players. Also the customers have been left high and dry by the private players as most of their agents and agency managers have left the business or company. The private companies have failed to map these customers to new managers and this has resulted in customers with no support. In LIC the DOs are doing excellent work and are close to customers and the service levels at branches in LIC has improved a lot and Turn around Time has been greatly cut.

The service levels at private companies is to be seen to be believed. Customer request forms for any alteration in policy service is often misplaced not tracable which irks the customer who has to follow it up repeatedly.

After the private players entered the scene LIC has improved its service level and its branch network in rural areas is hard to beat. Private players as usual are concentrated only in cities and ignoring the rural wealth which is sustaining India.

LIC is the largest life insurance company of India. Due to arrival of Private player in the market LIC is facing THROAT CUT competition in current scenario. But I thing LIC will definitely gain market this financial year because LIC has now started targeting Rural segments with its customize products. LIC has launched TWO MICRO iNSURANCE PRODUCTS.

LIC OF INDIA WILL GAIN AT LEAST 10% MORE MARKET SHARE in this financial year since it has gained 2.41% Market Share,Only,In July 2009. In the next few months, which are traditionally good business months for LIC OF INDIA; the possibility of gaining 2% Market Share every month is a distinct possibility.

So that leaves LIC Of India at another 16% Gain and overall Market Share Gain of 18%.In July 2009 it stood at 64.86%.The Agency Force Targets have been revised to Rs 1Lac Premium instead of Sum Assured and that should help a lot.

The Returns from LIC OF INDIA are very safe and high : One Of My customers has Housing Loan of Rs 550000 where the EMI is Rs 6078/- and he has Policies for Sum Assured Rs 9.81 Lacs and the EMI is Rs 2073. Total Premium paid till date is Rs 293528 while just the accumulated Bonus (without March 2009 Bonus - not yet declared) till date is Rs 540310. If he had taken policy for the EMI; he would have Rs 28.76 Lacs (Natural Death Benefit) and premium paid till now would have been Rs 860620 and Bonus would have been Rs 1584180 - GUARANTEED.

LONG WIN LIC OF INDIA!!!!