Life Insurance Corporation of India (LIC) SWOT Analysis

Published in Banking & Financial Services category by MBA Skool Team, Last Updated: April 26, 2020

Here is a detailed SWOT analysis of Life Insurance Corporation of India (LIC) covering strengths, weaknesses, opportunities and threats.

Life Insurance Corporation of India (LIC) Strengths

  1. Largest state-owned life insurance company in India, and also the country's largest investor
  2. Has over 2000 branches across all parts of India and more than 10,00,000 agents.
  3.  With Largest fund base it is the biggest investor in India
  4. Has over 115,000 employees across India
  5. According to The Brand Trust Report, LIC is the 8th most trusted brand of India
  6. LIC has subsidiaries like LIC Housing Finance Limited, LIC Cards Services Limited, LIC Nomura Mutual Fund, LIC(Nepal)Ltd, LIC(Lanka)Ltd, LIC(International)BSC(C)

Above are the strengths in the SWOT Analysis of Life Insurance Corporation of India (LIC). The strengths of Life Insurance Corporation of India (LIC) looks at the key internal factors of its business which gives it competitive advantage in the market and strengthens its position.

Life Insurance Corporation of India (LIC) Weaknesses

  1.  It has an image of a Government agency and hence lacks innovation
  2. Being a Government agency, red tape and bureaucracy causes problems
  3. Managing a huge workforce during economic crisis meant overburdened due to salaries

These were the weaknesses in the Life Insurance Corporation of India (LIC) SWOT Analysis. The weaknesses of a brand are certain aspects of its business which it can improve.

Life Insurance Corporation of India (LIC) Opportunities

  1. Use of Technology to provide effective services to cater to urban population.
  2. Government Schemes implementation

Above we covered the opportunities in Life Insurance Corporation of India (LIC) SWOT Analysis. The opportunities for any brand can include prospects of future growth.

Life Insurance Corporation of India (LIC) Threats

  1. Economic crisis
  2. Entry of new NBFCs in the sector
  3. Varying Govt policies

The threats in the SWOT Analysis of Life Insurance Corporation of India (LIC) are as mentioned above. The threats for any business can be external factors which can negatively impact its business.

Read Similar SWOT analysis

  • .  2. 
  • 3. 

Hence this concludes the Life Insurance Corporation of India (LIC) SWOT analysis.

Continue reading more about the brand/company.

About Life Insurance Corporation of India (LIC)

The table below gives the brand overview along with its target market, segmentation, positioning & USP

Life Insurance Corporation of India (LIC) Overview
Parent Company

Government of India

Category

NBFC

Sector

Banking & Financial Services

Tagline/ Slogan

Yogakshemam Vahamyaham (Your welfare is our responsibility)

USP

India’s Largest Life Insurance Company

Life Insurance Corporation of India (LIC) STP
Segmentation

Personal and Group Insurance

Target Market

Urban and Rural Investors

Positioning

Complete Insurance and financial solutions


This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.

Browse marketing analysis of more brands and companies similar to Life Insurance Corporation of India (LIC). This section covers SWOT Analysis along with Segmentation, Target Market, Positioning & USP of more than 2000 brands from over 20 industry sectors.

Continue Reading:


The brand names and other brand information used in the SWOT Analysis section are properties of their respective companies. The companies are not associated with MBA Skool in any way.
Edit the brand or add a new one to SWOT Analysis section : Contribute

Share this Page on:
Facebook ShareTweetShare on Linkedin