Case Studies in Marketing

5

Will Wealth Plus Make LIC Wealthier?^∗

BACKGROUND

Somu was returning home after visiting his uncle who had worked in the Life Insurance Corporation (LIC) and retired some years ago. His uncle had friends who used to be his colleagues and who were still interested in what was happening in the insurance sector, and especially life insurance. The passion with which they discussed the current developments surprised Somu, who was familiar with the different life insurance companies and their marketing schemes. Agents and advisers continually tried to sell one plan or the other to him and his family, and he was never sure about why one plan was better than the other. But after listening to his uncle and others, Somu now felt that he had learnt something ...