Assessment of Effect of Globalization on Indian Insurance Industry

Authors

  • Ashish Kumar Mishra Program Director Uniglobe College, Kathmandu

Keywords:

Globalization, Life Insurance, Private, Government

Abstract

India is a vast country with the second largest population in the world. Being populated increases the uncertainty of events which are generally irreparable. The awareness of the insurance products and its utilization by the people of India is very less as compared to the developed countries of the world. The overall objective of the research is to assess the effects of globalization on Indian insurance industry. It is a secondary data based content analysis descriptive research. To insure them the Government of India has promoted the private insurance companies to sell the life insurance products so that the challenges of increasing market share, meeting the customer’s expectation and providing the better services to customers are met. Penetration of life insurance products in India now has increased significantly along with many advantages to the customers. The study is based on secondary data to deeply analyze the relation of globalization in contrast to insurance industry. It will be significant for the visionary leader to cope with globalization. Globalization of Indian life insurance sector and entry of private players resulted positively in this sector.

References

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Published

2018-10-03

Issue

Vol. 1 No. 2 (2018): Journal of Advanced Research in Business Law & Technology Management

Section

Research Article

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