A Comprehensive Study on the Performance of LIC of India Using the Caramel Model

Dr. B. Sandhya Rani (Assistant Professor of Commerce, Department of Commerce, Osmania University, Hyderabad, Telangana, India.)
Dr. S. Ramesh (Assistant Professor of Commerce, Sr & Bgnr Government Arts & Science College (A): Khammam, Telangana, India.)

Jurnal Attarbiyyah: Jurnal Ilmu Pendidikan Islam
Vol. 2 No. 01 (2022): Dec 2021-Jan 2022

This research presents a comprehensive analysis of the performance of Life Insurance Corporation of India (LIC) using the CARAMEL model, which assesses key dimensions of an insurance company’s performance. The study reviews LIC’s financial data, market share, and customer feedback to evaluate its solvency, profitability, efficiency, and customer satisfaction. The literature review explores prior research on LIC’s performance evaluation and relevant performance models. The findings provide valuable insights into LIC’s strengths, weaknesses, opportunities, and challenges, and offer recommendations for enhancing its overall performance.