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Kasturi Life Insurance Company is one of the new entrants in the insurance
market. The company is headed by Josh Banerjee, with Ratan Tagore as the
chairman.
The company started its initial operations in Calcutta. The company intends
to slowly expand to the rest of the country. The company, which is presently
offering seven products, wants to expand its product line. Its major sales
come from endowment and money back policies. The company plans to increase
its market share by concentrating on its strengths.
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The company recently opened a branch office in Hyderabad, but it is
unclear about the type of product it should launch in this new market.
Banerjee met some of his friends who were working in Hyderabad to get
information about the market in the state.
Later, he visited the branch
office and spent a couple of days in the city to learn more about the
market, the prevailing demand for different products, and the other
competitors in the field.
From the information gathered, he came to know that 90 percent of the
policies sold by Max New York Life were whole life policies... |
Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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