IndiaFirst Life Insurance: Planning Next-Level Growth by Corporate Entrepreneurship

Amarpreet Singh Ghura and Abhishek

Vision, 2022, vol. 26, issue 3, 395-401

Abstract: IndiaFirst Life Insurance (IFLI) became the 23rd entrant in India’s life insurance industry by launching its operations in November 2009 (IndiaFirst Life Insurance, 2015). IFLI went on to break-even within 6 years of its inception by declaring maiden profits in FY 2015–2016 (IndiaFirst Life Insurance, 2015). The company stated its vision as—‘To become a Life Insurance and Pension business leader that provides significant value to all its stakeholders enabling a true customer delight’ (IndiaFirst Life Insurance, 2015). In order to implement its vision, IFLI worked its human resource policies and processes around the ‘Employees First’ approach (IndiaFirst Life Insurance, 2015). These processes had helped IFLI to become the fastest-growing company in the life insurance sector, and it was ranked 12th amongst the private insurers in terms of market ranking in individual annual premium equivalent for FY 2016–2017 ( Times of India , 2017). The company aimed to become a top 10 life insurance provider in the next few years in India in terms of retail premium business ( Times of India , 2017).

Keywords: Business Environment; India; Management Cases; Operations Strategy (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sae:vision:v:26:y:2022:i:3:p:395-401

DOI: 10.1177/09722629211010996

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