LIC Faces Challenges Amidst Declining Market Share

Imagine LIC is like a big store that sells insurance.

Lately, it hasn't been growing as fast as it used to.

One problem is that it depends too much on selling insurance to big groups.

The store also needs to attract younger customers, as it currently caters mostly to older people.

A recent change in rules has also made it harder for LIC to grow.

The store's market share, which is how much of the insurance market it controls, has also decreased.

Experts suggest LIC needs to sell more insurance to individuals to do better.