Published Paper Details:

Life Insurance Company (LIC) is one of India's leading life insurance companies in India offering a range of individual and group insurance solutions that meet various needs such as protection, pension, savings & investment, health and more. Since this paper aims to study the impact of liberalization on insurance companies of India, certain efforts have been invested, starting from problem formulation to overall impact measurement. After assessing the conceptual foundations and conducting an empirical testing of the present state of the insurance sector in India, conclusions point towards eighth dimensions of impact measurement. These eight dimensions are: service quality, perceived values, purchase intentions, repurchase intentions, market dynamics, exception handling, satisfaction and dissatisfaction on which the impact of liberalization can be measured. Finally, these eight dimensions taken for impact measurement are summed up into four measurements. The four measurements are sources of competence, behavioural intentions, contemporary dynamics and overall satisfaction. All the dimensions are statistically proved and having values on or above the acceptable limit. In other words it can be said that, the impact of liberalization has come in terms of these four variables.