The article has nothing fascninating rather it seems the author is confusing the readers. India is different civilization resulting a unique economy, so fitting western parameters on it will lead nowhere.
The reader have knowlegde of India, its economy and insurance in general but it seems the article has lost focus.
It would have been better had the article focused on the developments post-liberalisation, changes & rollbacks in the regulations by IRDA, and the 49% jinx….
It is good that the writer has brought out certain realities of the indian economy.. But still the article does not seem to offer any definitive solution – may be the objective is not so..anyway a good effort worth having a look.
In India Private insurance companies started to play a major role in promoting sales but still some Govt owned companies like LIC and SBI Life does not want to play a good role in promoting they were not custome friendly they still hesitate to talk to their customers freely and they even does not reply to customer’s emails or any mails,this shows the irresponsibility of govt companies even in the growing competitive market.
but at the same time, these 2 mentioned indian companies are the behemoths of the industry. A true test emerges when these VERY small pvt players become this big and maintain the same energy / standards when they are small. It is easy to be a Sehwag for 1 yr but to be a Sachin for more than 15 years is character.
Putting all blame on Public sector is very easy task that too in a socialist country. But before that ask how many Private sector companies are working with responsibility in India.
If it is the case why Government nationalise all companies in India. The reason was they are not serving the purpose they are claiming. I am having experience with Public and private sector Insurance companies and on basis of that I could tell Public sector could be slow in system but still they care about customer.
They are not like all private sector where only profit is covered.
The article has nothing fascninating rather it seems the author is confusing the readers. India is different civilization resulting a unique economy, so fitting western parameters on it will lead nowhere.
The reader have knowlegde of India, its economy and insurance in general but it seems the article has lost focus.
It would have been better had the article focused on the developments post-liberalisation, changes & rollbacks in the regulations by IRDA, and the 49% jinx….
It is good that the writer has brought out certain realities of the indian economy.. But still the article does not seem to offer any definitive solution – may be the objective is not so..anyway a good effort worth having a look.
In India Private insurance companies started to play a major role in promoting sales but still some Govt owned companies like LIC and SBI Life does not want to play a good role in promoting they were not custome friendly they still hesitate to talk to their customers freely and they even does not reply to customer’s emails or any mails,this shows the irresponsibility of govt companies even in the growing competitive market.
but at the same time, these 2 mentioned indian companies are the behemoths of the industry. A true test emerges when these VERY small pvt players become this big and maintain the same energy / standards when they are small. It is easy to be a Sehwag for 1 yr but to be a Sachin for more than 15 years is character.
Putting all blame on Public sector is very easy task that too in a socialist country. But before that ask how many Private sector companies are working with responsibility in India.
If it is the case why Government nationalise all companies in India. The reason was they are not serving the purpose they are claiming. I am having experience with Public and private sector Insurance companies and on basis of that I could tell Public sector could be slow in system but still they care about customer.
They are not like all private sector where only profit is covered.