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In this regard, it is important to point out right here that LIC has entered into an arrangement with Mangalore based Firms Bank to leverage their infrastructure for mutual benefit with the insurance coverage monolith acquiring a strategic stake 27 per cent, Corporation Bank has determined to abandon its plans of promoting a life insurance company.
The 12 personal insurance coverage firms providing life products in India have already grabbed nearly 9 percent of the market by way of premium income. As businesses change into increasingly aware that their success relies upon upon their information of consumer habits, life-style segmentation of the market primarily based upon psychographic analysis will achieve reputation.
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