IT Sales Opportunities in Life Insurance Corporation-2009

Life Insurance Corporation (LIC) is a government-owned provider of insurance services, headquartered in Mumbai (India). The company's product offerings include; Insurance plans, Pension plans, Unit plans (provides market investments and insurance benefits), Special plans (such as Health plan), and Group Insurance Scheme. LIC's strategic business units include; LIC Housing Finance Ltd., LICHLF Care Homes Ltd., and LIC Mutual Fund AMC Ltd. In addition, LIC has operations in Fiji, United Kingdom, Bahrain, Nepal, Sri Lanka, Kingdom of Saudi Arabia, Kenya, and Mauritius.

Industry trends and drivers have a direct or indirect affect on IT spending of all companies operating within an industry. Industry spending on any particular IT product or service is an important indicator of the criticality of that product or service for the industry. Based on the IT spend information available in ‘TechNavio’, we have computed a ‘criticality score’ for various IT products and services, for Life Insurance Corporation.

Through an in-depth analysis of industry trends and drivers and company level developments and events, we have made the ‘IT Selling Opportunities Map’ for hardware, software and IT services for Life Insurance Corporation. These maps have been divided into four zones representing Level I, Level II and Level III opportunity areas. Level I opportunity areas have the highest scores and hence, there is a high probability that Life Insurance Corporation will buy these products and services. Level II opportunity areas have lower scores and hence, lower probability to sell to Life Insurance Corporation. Level III opportunities have the lowest scores and hence, unlikely to sell to Life Insurance Corporation.

The report is meant for IT vendors and intends to help them identify selling opportunities within the company. Further, the identified sales drivers can be used to penetrate these accounts or increase current share of the customer's wallet. Also, the report lists key IT spending decision makers, which will enable salesperson to directly contact the key executives within the company.

TechNavio Insights is a set of reports based on TechNavio – a market intelligence platform for the IT industry. It builds on the intelligence available within TechNavio, and leverages on the custom research experience of the 'Technology Navigators'. TechNavio is built on years of experience of Infiniti Research in deep dive custom research and consulting for over 30 Fortune 500 companies and numerous large and mid-sized companies.

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