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The Indian market with its one billion plus population, presents lucrative and diverse opportunities for various industries. However, the intricacies that make up this m- ket are not very well known to most people, particularly those living in developed countries. India with its numerous and varied sub-cultures presents a microcosmic view of the world itself - it constitutes a small, representative system that has ana- gies to a larger world in configuration and/or development. This makes the study of the Indian insurance industry especially pertinent and appealing as it goes beyond the Indian market, facilitating an understanding of the dynamics of other countries/m- kets with similar growth paths. In her book, Novi Dewan provides an insight into the history, development, current situation and the emerging challenges and opportunities of the insurance industry in India. She methodically focuses on the marketing aspects of the life and health ins- ance industry with respect to the four Ps (product, price, place, promotion). In order to substantiate her findings, Miss Dewan has conducted and presented the results of an empirical study that comprises standardized interviews with decision makers of Indian insurance companies. The book is divided into four main sections. In the first section, the author presents an understanding of the overall Indian Insurance Industry vis-à-vis other markets.
List of contents
Insurance Industry in India.- Life Insurance.- Health Insurance.- Conclusion.
About the author
Novi Dewan absolvierte an der WHU – Otto Beisheim School of Management, Vallendar, den ersten MBA Studiengang, den sie als Jahrgangsbeste abschloss. Sie promoviert bei Prof. Jürgen Weigand am Lehrstuhl für Mikroökonomik und Industrieökonomik der WHU Vallendar.
Summary
Due to its massive population, sound economic fundamentals, dynamic improvements in the insurance regulatory framework and an increasing awareness amongst Indians about the relevance of insurances, India offers extensive opportunities for market entry and expansion in the insurance industry.
"The book reveals insightful ideas about the Indian insurance industry along with a discussion on the best practices of the marketing mix. Novi's impressive thesis, which forms the basis of this book, prompted me to contribute to her research with an India perspective. I am sure that this book will be an important reference material for emerging markets with similar growth dynamics."
Trevor Bull,
Managing Director
Tata AIG Life Insurance Company Ltd.
“The analysis presented stands out by being based on a thorough understanding of India and the life and health insurance industry investigated.”
Professor Dr. Martin Fassnacht
Associate Dean and Endowed Chair of Marketing
WHU – Otto Beisheim School of Management
“Only very few insurance companies really follow a strong market-driven approach. I consider this book a must-read for insurance executives, not only for those who are interested in the Indian market but for all of those who want to instil more market-orientation into their organisations.”
Dr. Dirk Schmidt-Gallas
Partner and Global Head of Insurance
Simon-Kucher & Partners
