New India is a leading global insurance company with a wide network of service outlets within and outside the country. The company offers non-life insurance services in different categories including...

New India is a leading global insurance company with a wide network of service outlets within and outside the country. The company offers non-life insurance services in different categories including personal, commercial, industrial, liability, social and credit insurance. This public sector company is facing competition from several private non-life insurance companies established in India after this sector opened up in 2000 to private players by the Government of India. In the light of changing competitive environment, product-mix management and new service development assumed significance. You are required to: (a) Study the product-mix management of the company (b) Study the process of new product development in the company