This book traces the development and analyses the performance of life insurance industry in India, since inception of this sector, using different business indicators over the years. It discusses the evolution and changing features of the Indian insurance industry in 3 phases: phase I from 1818 to 1956, phase II from 1956 to 2000 (known as the nationalisation period) and phase III post 2000 (called the post reform period). The book also measures the relative efficiency and productivity of the life insurance industry in India for the post-reform period, by employing Data Envelopment Analysis (DEA). Despite the fact that the life insurance sector recorded a compound annual growth rate (CAGR) of 17% in terms of total premiums and 21% in terms of new business premium collections during the post reform period, the insurers continue to grapple with the issue of profitability. Against this background, the book presents results on the factors determining profitability of the life insurance companies using measures of efficiency and competition. By helping regulatory authorities determine the future course of action in the context of entry of foreign insurers and also in establishing a level playing field, the book has important policy implications.

The contours of insurance business have been changing across the globe and the rippling effect of the same can be observed in the Indian market as well. The insurance industry of India has started to reveal the potential after the process of reforms were started. The changing insurance industry dynamics present many opportunities for insurers, but capturing these opportunities requires a well-defined and proactive business response. An attempt has been made to examine the effect of reforms on the performance of the Non-Life Insurance companies, in terms of financial performance, efficiency and productivity evaluation with Data Envelopment Analysis and to assess the comparative service quality level thereof using SERVQUAL Model and finally to identify the gaps in the performance so as to make suggestions to improve the performance of the Non-life Insurance Industry in India. This book deals with a comprehensive evaluation of Indian Non-Life Insurance Industry with the post liberalization focus and presents an in-depth analysis of the various dimensions of performance of the various players in the Indian market.

Novi Dewan establishes a status quo of the Indian health and life insurance industry and discusses the best practices for various elements of the marketing mix. She complements secondary research with recent empirical data accentuating the emerging opportunities and challenges in the Indian Insurance Industry by using standardized interviews with opinion leaders and CEOs of several insurers.

Data Envelopment Analysis (DEA) model is used to provide valuable information on investment efficiency of private life insurance industry in India. This study utilizes two inputs (shareholders' investments and policyholders' investments) and two outputs (net returns on investments to the shareholders and net returns on investments to the policyholders). This study focuses upon 20 private life insurance companies operating in India over a period of 4 years from 2010-11 to 2013-14. Since this study attempts to maximize output, an output oriented DEA model is used. The study finds that investment efficiency of private life insurance industry has improved on Banker, Charnes and Cooper (BCC) model and Charnes, Cooper and Rhodes (CCR) model. The study further highlights that during all years under study, 15% to 40% life insurance companies have been found on the CRS frontier and 40% to 60% life insurance companies have been found on the VRS frontier. With regard to scale efficiency issues, 15% to 40% companies have been operated at their most productive scale over the study period.

Contents Include : Introduction; Life Insurance : Review Of Studies Made; Methodology For Analysis; Performance Evaluation Of Life Insurance Corporation Of India; Productivity Of Life Insurance Corporation Of India; Investment Portfolio Of Life Insurance Corporation Of India; Impact Of Privatisation On The Performance Of Life Insurance Corporation Of India; Conclusions.