Awareness on Lic Essay
In Yeoor Gaon
Roll No: 010103
For the degree of Master of Business Administration
Under the guidance of
Academic year 2010-2012
Table of Content
Sr.no | Topics | Page no | 1 | Executive Summary | 3 | 2 | Introduction | 4 | 3 | Objectives | 6 | 4 | Literature Review | 7 | 5 | Research Methodology | 9 | 6 | Research Outcome | 10 | 7 | Conclusion | 11 | 8 | References | 12 | 9 | Annexure-Questionnaire | 13 |
The service industry is one the fastest growing sectors in India today. The upcoming sectors which are really showing the graph towards upwards are - Telecom, Banking, and Insurance. These, Sectors …show more content…
In India, Insurance is a national matter, in which life and general insurance is yet a booming sector with huge possibilities for different global companies, as life insurance premiums account to 2.5% and general insurance premiums account to 0.65% of India's GDP. The Indian Insurance sector has gone through several phases and changes, especially after 1999, when the Govt. of India opened up the insurance sector for private companies to solicit insurance by passing Insurance Regulatory and Development Authority (IRDA) Bill, allowing FDI up to 26%. Since then, the Insurance sector in India is considered as a flourishing market amongst global insurance companies. However, the largest life insurance company in India is still owned by the government.
INTRODUCTION Life Insurance Corporation
Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, apart from its corporate office in the year 1956. Since life insurance contracts are long term contracts and during the currency of the policy it requires a variety of services need was felt in the later years to expand the operations and place a branch office at each district headquarter.