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Customer Speak
"Inputs from Ibexi were useful for completion of implementation within the expected timeframe, since they have
- Insurance domain understanding
- Process knowledge in international context, especially the cross- functional relationship-extending from front and back office operations
- Project management skills to manage the business application implementation including requirements analysis, testing and user training..."
Rachna Sethi Vice President (Special projects),
Royal Sun Alliance Insurance Company Ltd, India
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"You can't build a point of view in isolation of the business, so we built business training programmes like insurance 101, insurance 201 so that our people can understand the business relevance of what they're doing..."

Vivek Paul Vice Chairman, Wipro
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"We are very happy to record that the training imparted was in-depth and relevant for the trainees. The feedback from the trainees was equally good in terms of usefulness and pedagogy, and they have been able to apply the training to practical use "

Shubhayu Sengupta
Head- Human Resources Swiss re Shared Services (India) Pvt Ltd


Life Insurance Market in India - Private Players


Source: IRDA (www.irdaindia.org)

For the top spot, the battle is on. The clear winner of the last year, ICICI Prudential now has a strong competitor in Bajaj Allianz. Even though ICICI Prudential will probably end the year with the maximum number of policies, Bajaj with a higher case size could race up to market leader. Meanwhile, quietly, HDFC Standard Life has emerged as a distinct third.

The next band is a hotly contested segment. SBI Life and Birla Sun Life have not been able to sustain their earlier advantage, and are making up case size loss with volume gain, remaining static. Others are catching up fast. While most players are converging on a middle path, there are two different players. Kotak - leveraging their high net worth customer relationships - has a low volume/ very high value customer base. Max New York Life has sharply lower case size, but continues its aggressive volume growth.

Sahara, Met Life, ING Vysya, AMP Sanmar are yet to make the grade. These players need to get high volume growth to be sustainable. Growth driven by case size increases as with ING are unsustainable in the long run.

The early competitive advantage of product differentiation, based on unit-linked products, with ICICI and Birla Sun Life has given way to distribution as the key competitive advantage. A combination of channels -agency, banks and others - is emerging as the key to driving growth by value and volume.

Analysts: Maheshwaran, Rachit Sahai, Surajit Basu