Assistant Prof.,
Indian life insurance industry in post IRDA regime has been changed. Increasing life insurance density and insurance penetration shows the success of Indian life insurance industry. A lot of new life insurers are coming with new strategies and with new offerings. Pricing strategy is also an important component of reaping the large share of the industry. Each segment is trying to attract the prospecting customers of life insurance. The paper focuses that how different life insurers are adopting new pricing strategies. It tells about the different components of the price of life insurers. Paper also emphasize that private players are incurring more and more on business operations and they are paying a lot as insurance commission to their agents. As a result averagely premium paid by the subscribers of the private life insurers is quite high than the LIC. Paper also found that life insurers are adopting two types of pricing strategies, selling of maximum no. of policy strategy and selling of big amount policies. Private insurers’ averagely high premium per policy indicates that they are selling big policies as well as charging high operating expenses. LIC per policy average premium is quite low indicates that LIC is selling large no. of policies of small amount.
