E-commerce for insurance business in India | |
| Author | Tanwar, Nidhi |
| Call Number | AIT RSPR no. SM-00-70 |
| Subject(s) | Electronic commerce--India Insurance--India |
| Note | A research study for the partial fulfillment of the requirements for the degree of Master of Business Administration, School of Management |
| Publisher | Asian Institute of Technology |
| Series Statement | Research studies project report ; no. SM-00-70 |
| Abstract | Due to the recent opening up of the Indian Insurance market, there is a great opportunity for the new companies both domestic and foreign to enter the market and exploit the vast potential. Moreover, there is a trend towards all the businesses moving towards the virtual world. Bearing this in mind, the present study does a customer survey and tries to find the scope of e-insurance in India. The data was collected from the educated middle class people, using questionnaire. The secondary data was collected from the Internet, magazines and the present insurance companies. The survey shows that there is a lot of potential and scope for e-insurance in India. This is evident from the response of the people and the encouragement and support given by the government to the e-commerce businesses. Further the survey shows that greatest disadvantage and difficulty that e-insurance companies could face in India is the cultural factors. The people give a lot of importance to the personal dealings and trust. But the companies can overcome this difficulty by a careful and intelligent marketing strategy. The survey also attempted to find out the position of India in this field in the next 5 years. The results show that more than 60% of the people feel that in the next 5 years 10% or more of the insurance business will be on the net. 10% might seem to be a low percentage but for a developing country like India and in a short period of 5 years, this can be considered to be a very good percentage. Thus there are good prospects for the companies planning to enter the market but ofcourse there will be intense competition and the early entrants with effective marketing strategy will be able to capture a large market share |
| Year | 2000 |
| Corresponding Series Added Entry | Asian Institute of Technology. Research studies project report ; no. SM-00-70 |
| Type | Research Study Project Report (RSPR) |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Master of Business Administration (MBA) (Publication code=SM) |
| Chairperson(s) | Bechter, Clemens; |
| Examination Committee(s) | Buchel, Bettina;Sununta Siengthai; |
| Scholarship Donor(s) | Government of France; |
| Degree | Research Studies Project Report (M.B.A.) - Asian Institute of Technology, 2000 |