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IT landscape of Insurance Players - India
February 2012

Executive Summary
The ICT adoption in insurance market was valued at INR xyz bn in 2011 and is anticipated to grow at a CAGR of xxx% to reach INR 230.85 bn by 20-Out of the overall ICT expenditure in 2011, insurers spent about INR aa bn and INR cc bn on IT and telecommunications respectively Hardware, Software and Services comprise of 45.4%, 19.2% and 33.7% respectively of the overall IT expenses of insurers Some of the prevailing key technologies identified within the Indian insurance sector so far comprise of:

Market

Key Technologies

aaa bbb ccc ddd

Technology trends identified in the industry can be summarized as below:

Trends

xyz – zzz abc – yyy def – xxx

Major Players

Competition

IBM Wipro

Microsoft CMC

Red Hat TCS

IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

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•Insurance Industry – Overview
•IT Landscape – Indian Insurers
General Insurer Life Insurer Health Insurer

IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

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Indian Insurers - History
xxx Insurers - India
Numbers
25 20 15 10 5 0

11 1 4 3 1
10

13 1
12

13 1
12

14 1
13

14 1
13

16 1
15

16 1
15

22 1

22 1

23 1

21

21

22

a b

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

xxx Insurers - India
Numbers
25 20 15 10 5 0

22 14 8 4 1
3

22 6

24 6

15 6
8 1

15 6
8 1

15 6
8 1

16 6
9

17 6
10

6

11 4
6 1

5
8 1

15

15

17

a x

c

1 2006

1 2007

1 2008

1 2009

1 2010

2000
Source: IRDA

2001

2002

2003

2004

2005

IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

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Rise in working class population and growing disposable income is driving the insurance sector in India
Insurance Industry – Snapshot (India)
•The highly dynamic Insurance sector can be primarily segregated into Life and Non-Life Insurance segments
• Indian Life insurance business is ranked amongst 156 countries and contributes to about 2.69% to the global market in 2010 • On the other hand, the non-life insurance business was ranked at the 19th position in 2010 and contributes to about 0.58% of the global market 9th

xxx Insurers – India (2011)
x Numbers
60 40 20 0

y

z

41 23 8 1 xxx 6
1

0 zzz

18

No. of Insurers taken are as of 30th Sep, 2011

•Post liberalization in India, the sector witnessed a persistent entry of foreign players
As of now, state owned LIC maintains its leadership with approximately 76% in terms of new business premiums while the remaining 25% is split amongst 23 private players
3 2 1 0

xxx Insurance - Market Share
INR tr
2.65

xxx

yyy
2.92

•Favorable economic demography and rising disposable incomes are the primary growth drivers for the sector
Source: IRDA

0.35

0.43

2009-10

2010-11

IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

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Insurance Industry Hierarchy – India
Public State run LIC governs the entire public life insurance domain

Life Insurance Currently, a stiff competition prevails amongst 23 private players

Private Ministry of Finance IRDA

Public Non-life Insurance

Players have primarily targeted the retail segment and brought in efficient strategies to strengthen their distribution channel Private players have carved a niche for themselves in terms of service quality
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Private
IRDA: Insurance Regulatory and Development Authority Source: IBEF IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

General Insurer- xxx
Corporate Information
Company Snapshot Foundation: Headquarter: Address: Website: Phone:

Business Highlights
• Operates as a subsidiary of … • Through its subsidiaries, provides insurance solutions for protection, health, wealth with protection, children, and retirement needs • The company comprises of …

Products and Services
xxx yyy zzz aaa

bbb

ccc

ddd

eee

fff

ggg

Source: Netscribes Analysis IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

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Technology Implementation (x/x)
ICT Vendor – abc

Requirements

Solution

Benefit

• Gain a better understanding of customers across the financial services businesses • Provide better, relevant and timely service to its customer base

• BI and CRM initiative provided valuable insights for all sales, marketing and customer service-related business units within the Financial Services Group

• Increased efficiencies in productivity and deployment of its services • Currently, customers receive improved, relevant and timely services

Technology Used
xxx
Source: Databases, Netscribes Analysis IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

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Sales Intelligence (1/x)
Mr. x CFO Mr. x Vice President - IT

E-mail Phone Professional History:

x x •xxx

E-mail Phone Professional History:

x x •xxx

Source: Social Network Websites; Databases; Netscribes Analysis IT LANDSCAPE OF INSURANCE PLAYERS IN INDIA 2012.PPT

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Thank you for the attention
The IT landscape of Insurance Players – India report is a part of Research on India’s Information Technology Series. For more detailed information or customized research requirements please contact: Kalyan Banga
Phone: E-Mail: +91 33 4064 6215 kalyan.banga@netscribes.com

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