Retail reality

Not very long ago, the word insurance in India was synonymous with the ubiquitous life insurance agent, tirelessly pursuing all and sundry with his insurance policies armed with his never-say-die attitude. The general insurance scene was dominated by the four stars - New India Assurance Company Ltd, Oriental Insurance Company, National Insurance Company Ltd and United India Insurance Company Ltd. Those were the days when the customer was not yet crowned the king! He had little choice when it came to products or pricing. With the privatisation of the insurance sector in 2001, things changed overnight, as private insurers entered ...

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