E-commerce and portfolio allocations: A study on the Indian life insurance customers

Rajeev Kumar Ranjan ORCID logo, Shoaib Alam Siddiqui ORCID logo, Nitin Thapar, Shyam Singh Chauhan



The paper attempts to find the impact of technology on the purchase behavior of consumers for insurance products. With the use of technology and e-commerce the adoption of insurance products had undergone a transformation. With the entry of private players the insurance sector has become very competitive (Jampala & Rao, 2005). With increased competition the life insurance industry is adopting innovative marketing practices to tap a larger market; the companies therefore are developing their capabilities of access-based penetration, distribution and sale to customers. The advances in technology have changed the way insurance products were marketed in India. Apart from the traditional agency channel, the companies are also exploring alternative channels like brokers, rural channels, online marketing, and e-commerce, etc. The personal selling based channels are the new innovative methods offering an effective reach at a minimum cost. To analyze the consumer purchase behavior the study used two-way ANOVA to determine the effect of two nominal predictor variables on a continuous outcome variable. The results of the study will assist the life insurance companies in improving their operations and efficiency.

Keywords: Life Insurance Industry, Agency Channel, Online Channels, Prospects

Authors’ individual contributions: Conceptualization – R.K.R.; Methodology – S.A.S.; Writing – S.S.C.; Investigation & Resources –N.T.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: N2, M20, M21

Received: 06.03.2020
Accepted: 27.04.2020
Published online: 07.05.2020

How to cite this paper: Ranjan, R. K., Siddiqui, S. A., Thapar, N., & Chauhan, S. S. (2020). E-commerce and portfolio allocations: A study on the Indian life insurance customers. Corporate & Business Strategy Review, 1(1), 36-46. https://doi.org/10.22495/cbsrv1i1art4

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