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Topic : challenges in insurance sector
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Year 2009 is period of consolidation for insurance or expansion

Created by : Dushyant Hada, Territory Manager  | 04 01 2009 06:20:10 +0000
Industry : InsuranceFunctional Area : India(Markets)
Keywords : insurance merger consolidation expansion
Activity:  264 views;  last activity : 07 06 2010 20:18:09 +0000

Is insurance industry in india will go for consolidation or expansion

  
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After 8 years of exponantial growth in insurance sector its first time when insurance sector in india showing marginal growth. Its a time to consolidate and rework on the startegy adopted.
By Dushyant Hada, Territory Manager  04 01 2009 06:20:10 +0000
 
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Dear , 

the insurame companies have come loaded with guns in the past few years, the industry have already consolidate a lot in 2008, i believe the year 2009 the companies are looking for expansion. If one can see the first quater of 2009 2-3 new companies have entered the insurance sector.. The companies are getting offices and labour at a cheap cost as compared to past times so, i think the companies will continue the pace of growth in 2009...
By Japan Shah, H.O.D, Oxford School of Management  04 20 2009 17:47:16 +0000
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yes this is the time for consolidation and regroiup things, work out strategies and executing them well is the need of the hour, so i to agree with dushyant and vijay on their views,


By Prateek Singh Rathore, Actuary Manager, Tata Aig Insurance Solutions  | 04 06 2009 06:14:29 +0000
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All insurance companies were running blindly without any fear to overcome their competitors and tried to create some news. This recession has made them to rethink on their strategies and taught them to approach the growth step by step. Where i live is a small town, here two insurers made agressive steps in early 2007, opened posh office without even a proper sales team, and suffered a lot and winding up  and moving back to their hub locations.

This is good for our industry, I feel
By vijayasaravanan , Partner, MS Contractors and Amway Business Owner  | 04 05 2009 15:51:56 +0000
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Insurance industry is rising ahead rapidly.Its business cycle consists of expansions &recession which are integral feature of market economy.A recession has a vicious phase of declining output,income,employment & sales which eventually giving way to an expansion.Now a days companies are looking for bank assurance tie ups for expansion and moreover emphasis is laid on recruitment of unemployed graduates as agents
By Avanish Ratna, Actuary Manager, LIC  | 04 01 2009 06:45:45 +0000
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