Impact of global financial crisis on life insurance industry

This book is an outcome of the research undertaken on impact of global financial crisis on Life Insurance industry in South India. Insurance in any economy is regarded as a pillar of growth for overall development of the economy. Volatile economic condition with recent financial crisis changed the competitive landscape in life insurance industry with a challenging future ahead in India.An examination of the effect of the crisis on Indian economy and savings pattern of people and priority for insurance is made. It contains a quantitative and objective assessment of how well the life insurers in India managed the global crisis in Madurai Division and at the National level. There is an analysis on the behaviour of policyholders’ towards LIC and views towards global financial crisis and perceptions of the policyholders about the service rendered by the LIC of India using SERQUAL model.It is hope that the readers will be enlightened on the necessity for investing in life insurance during their earning period.It also offers some valuable insights to the branch managers of LIC to aggressively improve customer service standards and revamp distribution networks.