Knowledge Management & Life Insurance: Knowledge Management Practices in Indian Life Insurance Industry

For knowledge-intensive life insurance industry, KM can be a tool of competitive advantage in country like India, where there is a huge market potential. This book aims to understand the KM practices followed in various private life insurance companies compared to the government owned and oldest life insurer in the country – Life Insurance Corporation (LIC). The work is based on a sample comprising of 03 private life insurance companies and 01 public sector LIC. The KM practices are evaluated using MIT90s framework and Hansen, Nohria, and Tierney’s Knowledge Strategy Model of Codification versus Personalization. The work empirically shows that private life insurance companies’ perform well on all dimensions of KM compared to LIC; however, no insurance company follows codification and personalization knowledge strategy as envisaged by Hansen, Nohria, and Tierney’s model. There is huge scope of KM implementation in insurance industry in India.