(8) State the Top 3 Insurance players in the market , Why Private Insurance Firms are holding a strong market position in the present scenario surpassing the so called Giant "LIC" ?

Question

Accepted Answer

Private insurance firms have surpassed LIC due to their innovative products, customer-centric approach, and efficient operations.

Private insurance firms offer innovative products that cater to the changing needs of customers.
They have a customer-centric approach and focus on providing personalized solutions.
Private insurers have efficient operations and use technology to streamline processes.
Examples of top private insurance players are ICICI Prudential, HDFC Life, and SBI Life.
LIC has been slow to adapt to changing market dynamics and has faced challenges in digitization and customer service.
Private insurers have also been able to leverage their distribution networks and partnerships to reach a wider customer base.

Accepted Answer

1. Icici Prudential life 2. Indiafirst life 3. Digit Insurance

(8) State the Top 3 Insurance players in the market , Why Private Insurance Firms are holding a strong market position in the present scenario surpassing the so called Giant "LIC" ?

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