LIC: MEASURING THE EFFECTIVENESS OF INTERNET ADVERTISEMENTS

Abstract

The Insurance sector is an essential part of the economy because it helps people and businesses reduce risk and protect their finances. It functions by obtaining premium payments from policyholders and providing reimbursement for specific losses, such as injuries, diseases, or property damage. It is vital for insurers to adapt and innovate in order to remain competitive and satisfy the changing demands of the market since the industry continuously changes due to advancements in technology, data analytics, and changing customer preferences. One of India's biggest and oldest life insurance firms, the Life Insurance Corporation of India (LIC), was founded in 1956. It is a significant player in the Indian insurance industry and a state-owned organization. LIC serves millions of customers by offering a variety of life insurance and investment products. Given that it is owned by the government, it plays a crucial role in encouraging long-term savings and financial inclusion in India.

This article examines the profound influence of internet advertising on the Life Insurance Corporation of India (LIC). As digitalization continues to reshape the business landscape, LIC has embarked on a strategic journey to harness the potential of online advertising. The study investigates the multifaceted impact of internet advertising on LIC, encompassing heightened brand visibility, targeted customer engagement, and operational efficiency. By leveraging data-driven insights and innovative marketing strategies, LIC is not only expanding its market reach but also fostering stronger customer relationships in the digital era. This abstract offers a glimpse into how internet advertising is reshaping LIC's strategies and its pivotal role in securing the corporation’s relevance and competitiveness in the contemporary insurance industry.