Playing to the End Game

Making Strategic Choices with Complex Market Dynamics

Y.V.D.V. Prasad
ING Vysys Life Insurance, India.

Vivek Bengani
ING Vysys Life Insurance, India.

Nayantara Chakravarthi
Multi Dimensions Research, India.

BACKGROUND: THE INSURANCE MARKET –THE LIFE OF THE PARTY

2000 AD: Entry of Private Players

In 2000 the government passed a resolution that enabled private participation in the financial services sector in India.

At the time ING VYSYA and the other multinational insurance companies entered the country, the Life Insurance Corporation (LIC) and The General Insurance Corporation (GIC) were forces to reckon with. With a large force of nearly 2,000 branches and 500,000 sales agents, LIC seemed formidable. It had almost 190 million policies outstanding.