A Study on the Attitude of General Public towards LIC after the Privatization
Journal Title: International Journal of Languages, Education and Social Sciences (www.ijless.com) - Year 2012, Vol 2, Issue 1
Abstract
After the opening of the insurance sector in 1999, many new players have entered in the business of Life insurance sector; the degree of competition has increased multifold. The private insurance companies are launching new innovative insurance plans for their survival and growth. At the same time, Life Insurance Corporation of India has upgraded their quality of service to retain, maintain and attract new business. An attempt has been made to study the impact of privatization on LIC. The Development Officers were contacted to know their observations about the impact of privatization on their life insurance business and their views as how their life insurance business has been influenced by the opening of the sector. LIC has made a lot of changes in its operation and latest technology is being used to serve the customer. The customer grievances are properly attended and all maturity claims are settled to the entire satisfaction of the policyholders. The privatization of the sector has brought lot of opportunities for all the players. Under such situation, fittest of the fit will survive and the rest will vanish over a period of time.
Authors and Affiliations
Dr Anil Chandhok
Keywords
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