You are here

Performance Evaluation of the Intermediary Channels of Life Insurance Industry in India

Journal Name:

Publication Year:

DOI: 
https://doi.org/10.17015/ejbe.2016.017.04
Abstract (2. Language): 
The present study aims to canvass the performance of intermediary channels in Indian Life Insurance Industry viz. individual agents, corporate agents, bancassurance, brokers and direct selling. The conduct of performance has been deliberated in context of business premium collected and number of policies issued by various channels through Two-Way ANOVA. The data has been figured out over the period of seven years, i.e. from 2006- 07 to 2012-13. The findings demonstrate that in the context of premium as well as policy, there is difference in mean scores for various categories of channels, but no difference has been found with respect to time period. Besides the study also measures the augmentation in their performance, through compound annual growth rate (CAGR) by using the log linear regression model which reveals that individual agent is the foremost performing channel in terms of generating business. But sustaining efficacy of every channel has become one of the confronting issues for insurance domain.
51
65

JEL Codes:

REFERENCES

References: 

Anand, S, & Murugaiah, V. (2006). Bancassurance: Indian context. SCMS Journal of Indian
Management, 3(3), 73-81.
Bashir, I., Madhavaiah, C., & Naik, J. (2013). Critical analysis of traditional and modern
insurance distribution channels in India. Journal of the Insurance Institute of India,1(2).
Retrieved from http://connection.ebscohost.com/c/articles/87005080/critical-analysistra...
modern-insurance-distribution-channels-india
Baradhwaj, C L. (2013). Distribution compliance framework- vital hub of the wheel. IRDA
Journal, 9 (9), 31-37.
Chaudhary, S., & Kiran, P. (2011) Life Insurance Industry in India - Current Scenario.
International Journal of Management & Business Studies, 1(30), 146-150.
Chen, M. & Lai, C. (2010). Distribution systems, loyalty and performance. International
Journal of Retail and Distribution, 38(9), 698-718.
http://dx.doi.org/10.1108/09590551011062448
Chevalier, M., Launay, C & Mainguy, B. (2005). Analysis of bancassurance and its status
around the world. Focus Scor Group Publication, 1-39. Retrieved from
website:http://www.scor.com/images/stories/pdf/library/focus/Life_Focus_102005_E...
Christea, M., & MIitu, N E. (2008). Experience Studies on Determining Life Premium
Insurance Ratings: Practical Approaches. Eurasian Journal of Business and Economics, 1 (1),
61-82.
Coelho, F., & Easingwood, C. (2004). Multiple channel systems in services: pros, cons and
issues. The Service Industries Journal, 24 (5), 1-29.
http://dx.doi.org/10.1080/0264206042000276810
Cummins, J., & Doherty, N. (2006). The economics of insurance intermediaries. The Journal
of Risk and Insurance, 73 (3), 359-396. http://dx.doi.org/10.1111/j.1539-6975.2006.00180.x
Desk, F. (2013). Distribution channels in life insurance. Retrieved from
http://www.ehow.com/facts_6969877_difference-corporate-agent-broker insurance.html
Dumm, R. & Hoyt, R. (2002). Insurance distribution channels: market in transition. Retrieved
fromhttp://www1.iisonline.org/pdf/Insurance%20Distribution%20Channels%20(JIR%20sub
mission). pdf
Etgar, M. (1976). Performance of insurance distributors. The Journal of Risk and Insurance,
43 (3), 487-499. http://dx.doi.org/10.2307/251915
Field, A. (2005). Discovering Statistics Using SPSS. London, Sage Publications.
Govardhan, N. (2008). Relevance of distribution channels. IRDA Journal, 6 (10), 7-10.
Sumninder Kaur BAWA & Samiya CHATTHA
Page | 64 EJBE 2016, 9 (17)
Grover, N. & Bhalla, G.S. (2013) Level of Awareness Regarding Bancassurance and Choice of
Insurance Product among Bank Customers in India. Eurasian Journal of Business and
Economics, 6 (12), 63-77.
Gulati, N.C., & Jain, C. M. (2011). Comparative analysis of the performance of all the players
of the Indian life insurance industry. VSRD International Journal of Business and
Management Research, 1 (8), 561-569.
Kasturi, R. (2006). Performance management in insurance corporation. Spring, 5(1), 157-163.
Krishnamurthy, S., Mony, S, Jhaveri, N., Bakshi, S., Bhat R, Dixit, M., Maheshwari, S. (2005).
Insurance Industry in India: structure, performance, and future challenges. Vikalpa, 30(3),
93-119.
Kumari, T.H (2013). Performance Evaluation of Indian Life Insurance Industry in Post
Liberalization. International Journal of Social Sciences Arts and Humanities, 1(1), 7-14.
Kutty, S (2010). Indian life insurance - the millenial decade. Retrieved from
https://www.insuranceinstituteofindia.com/.../Journal.../The%20Journal
Lakshmikutty, S., Baskar,S. (2006). Insurance Distribution in India: A Perspective. Retrieved
from http://www.mib.com/kd/html/Insurance_Distribution_India.html#
Majumdar, N. (2010). Increasing life insurance penetration in the next decade. Retrieved
from website: https://www.insuranceinstituteofindia.com/.../Journal.../The%20Journal.
Pani, L., & Swain, S. (2013). Bancassurance and Indian banks. International Journal of
Research and Development- A Management Review, 2 (1), 11-13.
Parekh, A. (2011). Current issues in Life Assurance. Retrieved from
www.actuariesindia.org/CILA/CILA%202011/Ashvin%20Parekh.pdf
Radhakrishan, C. (2006). The broking profession –road ahead and challenges. IRDA Journal,
4 (1), 15-17.
Rajeshwari, K., & Christy, F. (2012). Agents as the architects of life insurance industry- as
assessment. Asian Journal of Research in Social Sciences and Humanities, 2 (3), 39-55.
Rao, G. (2006). Brokers in Indian and other markets- A comparative study. IRDA Journal, (1),
11-14.
Sethi, S. (2008). Role of intermediaries in Insurance. IRDA Journal 6(10), 29-31.
Singaraju, A. (2012). Need for pro active participation- bancassurance. IRDA journal, 10 (1),
28-30.
Singh, M.P., & Chakraborty, A., G., R. (2011). Contemporary issues in marketing of life
insurance services in India. International Journal of Multidisciplinary Research, 1 (7), 17-61.
Sithapathy, V. (2008). What has been and what will be - role of an insurance broker. IRDA
Journal, 6(10), 21-22.
Srivastava, A., Tripathi, S., & Kumar, A. (2012). Indian life insurance industry–the changing
trends. Researchers World, 3(2), 93-98
Sud, R. (2012). Trailblazers in distribution: the agency channel. IRDA Journal, 10(1), 35-38.
Tiwari, A. & Yadav, B. (2012). A customer survey and perception towards bancassurance with
reference to life insurance industry. South Asian Journal of Marketing and Management
Research, 2(2), 142-164.
Viswanathan, S. (2006). Role of distribution channels. IRDA Journal, 5 (1), 20-21.

Thank you for copying data from http://www.arastirmax.com