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VOL. 6, ISSUE 2 (2024)
A comparative analysis of private insurance companies and life insurance corporation of India in Bilaspur, Chhattisgarh
Authors
Subhash Chawla, Dibendra Kumar Satnami, Lokesh Kumar Sahu, Deepesh Kumar Kashyap, Bhavesh Sondhiya
Abstract
The primary objective of this research is to conduct a comparative
analysis of public and private life insurance providers in the Bilaspur
district of Chhattisgarh, India. With India's rapidly expanding economy, the
insurance market has become increasingly attractive. Historically, the Life
Insurance Corporation of India (LIC) held a monopoly in life insurance until
the liberalization of the sector in 1999. Currently, there are 23 private life
insurance companies competing alongside LIC. This study focuses on the
comparative analysis of these insurance providers in Bilaspur, Chhattisgarh,
using four key variables: Market Share, New Individual Policies Issued, Premium
Income, and Benefits Paid. The study employs trend analysis to examine
performance over the period and utilizes the t-test to evaluate the
significance of the findings. The results indicate that LIC consistently outperforms
private insurance companies across all four variables within the Bilaspur
region.
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Pages:52-54
How to cite this article:
Subhash Chawla, Dibendra Kumar Satnami, Lokesh Kumar Sahu, Deepesh Kumar Kashyap, Bhavesh Sondhiya "A comparative analysis of private insurance companies and life insurance corporation of India in Bilaspur, Chhattisgarh". International Journal of Management and Economics, Vol 6, Issue 2, 2024, Pages 52-54
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