Posts

Showing posts with the label LIC

Partnering or outsourcing is the formula

Image
Competitions in fields are very common and have been present for many decades. Each business sector has its own work strategy which takes it to the path of progress. Although technology and machines have reduced much of the manual work while reducing the time of your products and services . The Indian economy provided several benefits for various fields and the industrial revolution also made way in the early 1900s for many industries to show their business. Earlier, the traditional business methods had the intention to earn money, profits and grow the business. Thinking out of the box and exploring new sides was seldom thought.  In the later years, entrepreneurs not only expanded their businesses but also thought of growing together with other communities. Earlier, the fundamentals of two varied entrepreneurs were selling and buying. The entrepreneurs did all their business themselves without depending on others. However, later businessmen understood that working with other sector...

TRANSPARENCY IS THE KEY WORD FOR INSURANCE

Image
  The recent news of Initial Public Offering (IPO) for the Government owned Life   Insurance Corporation of India   (LIC) for disinvestment purposes has been creating waves in the sector. Although, most of the insurance companies have already been listed, the change in the sector did not come so easily. The  insurance sector  was considered a traditional business-like money lending which worked around mutual companies. However, being a public limited company has its own benefits for the sector. Insurance industry has been present around since many years. It started as a damage cover for the loss in businesses in terms of sea voyages, wars and business loss among others. However, gradually over the years, the insurance sector started growing and people understood the crucial need for insurance on valuable goods and services. Later, personal insurance, general insurance, property insurance and general insurance were introduced which helped the sector to grow in le...