Final 100 Marks Project on Bancassurane

8/11/2019 Final 100 Marks Project on Bancassurane

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Bancassurance

A PROJECT REPORT ON

BANCASSURANCE

SUBMITTED TO

UNIVERSITY OF MUMBAI

IN THE PARTIAL FULLFILMENT OF B.B.I. DEGREE

SUBMITTED BY

YOGITA BANGERA

T.Y.BCOM (B&I) SEMESTER- VROLLNO- A-01

SEAT NO- 51

STUDYING AT

RI!VI EDUCATION SOCIETY"SRI!VI COLLEGE OF ARTS# SCIENCE & COMMERCE

BANDRA ($)# MUMBAI-50

ACADEMIC YEAR

(%00-%010)

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Bancassurance

CERTIFICATE

I, P4 P2,/9:+ S2%ere' !erif' t%at M+,, Y+ B/*%a!e com#eted t%is roect

tit#ed B/,,2/*3for t%e academic 'ear *++-*++. It is an origina# and true ork to t%e

est of m' kno#edge.

//////////////////// ///////////////////////

S+/2* 4 * P+/+;: S+/2* 4 * BBI C-6+/*

7D.S.G.A.!+6+8 7M F2*/: E>?+/*

7M, P2,/9:+ S28

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Bancassurance

Acknowledgement

First and foremost, I would like to thank

Almighty god for energy, strength, guidance and

help that has always been with me throughout

My work

0%i#e resenting t%is roect at t%is roect at t%is uncture, I fee# dee#' o#iged to our

Mumai 1ni!ersit' for ro!iding me it% an oortunit' to do t%is roect. I a#so e2tend

m' sincere t%anks to our P+/+;: D.S.G.A.!+6+and * +* P+/+;: B**/ ;/for

t%eir mora# suort and encouragement

I am %ig%#' gratefu# and e2ress m' sincere gratitude to m' P4 P2,/9:+ S2,%o

guided me so e## efore t%e eginning of t%e roect.To sum u I ou#d #ike to t%ank m'

P4 F2


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Bancassurance

EXECUTIVE SUMMARY

T*?* 4 * ;9*

T%is roect seaks aout t%e ancassurance of 4dfc ank and standard #ife and its oint

!enture. T%e roect tries to %ig%#ig%t aout t%e aareness among t%e customers regarding t%e

!arious sources of roduct and ser!ice offered ' 4dfc ank.

S2*, 4 /,,2/* 4 H64 B/=

46" Bank uses !arious too#s for ancassurance and it is discussed in t%e roect in rief.

S2*

6or knoing t%e satisfaction among t%e customers7non-customers aout t%e roduct sc%emes

and ser!ices ro!ided ' t%e 4dfc standard #ife, a sur!e' as carried out in Mumai .T%e

sam#ing sie of ++ for t%e sur!e' as considered. It in!o#!es t%e use of t%e 8uestionnaire.

T%e o!era## ana#'sis is regarding t%e roduct and ser!ice is adoted ' 4dfc Bank.

C/:2,+/

T%e conc#usion seaks aout t%e ou#arit' and aareness regarding t%e 46" standard #ife. It

is a#so indicates t%e resu#t of t%e sur!e'.

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Bancassurance

S. N T:* 4 C/*/ P.N

1. DESIGN OF STUDY T+:* F T* S26

O9*+*

S;* O4 T* S26

M*6:

L+?++/,

-

%. INTRODUCTION

C/*; M*/+/ A/6 D*4+/++/

10-1@

@. BANCASSURANCE B/,,2/* M6*:

L*: R*


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Bancassurance

. RECOMMENDATION 51

10. CONCLUSIONS 5%

11. BILIBOGRAPY 5@

ANNURE-S2* 2*,+//+*

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Bancassurance

1.DESIGNOF STUDY

TITLE FOR THE STUDY

K"BANCASSURANCE""

OBJECTIVES

To understand concetancassurance

T%e stud' ana#'ses t%e aareness of t%e customer and t%e !ieoints of t%e

customer aout insurance as e## as ancassurance.

46" ank to kno %o far t%eir initiati!es in romoting 46" standard #ife

Insurance roducts %a!e reac%ed its customers.

$na#'e t%e initiati!es taken ' t%e 46" ank in endorsing t%e 46" Standard

3ife Insurance roducts

46" ank is a#so %a!ing a tie u it% its susidiar' coman' 46" Standard 3ife

Insurance for se##ing 3ife insurance roducts to its retai# customers.

SCOPE OF THE STUDY

Toda'9s anking usiness is not t%e one e %a!e seen in t%e ast. It %as ecome muc%

more di!ersified. $s ancassurance ro!ides t%e est ossi#e so#ution to a## t%ese, most

of t%e anks noada's %a!e started se##ing insurance roducts to its customers

46" ank in ancassurance it% secific reference to #ife insurance and to suggest

t%e a's and means to imro!e t%e e2isting erformance ' a' of co##ecting

resonses from t%e customers.To ana#'e t%e erformance of 46" ank in ancassurance and its contriution to t%e

o!era## rogress of t%e ank

It a#so indicates t%e ersons %o are i##ing to take #ife insurance o#ic' in t%e

immediate future and t%e reasons for taking t%e same.

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Bancassurance

METHODOLOGY

T%ere are to t'es of data used.

:rimar' data

Secondar' data

T%e data is defined as data t%at is co##ected from origina# sources for a secific urose. T%ese inc#ude t%e sur!e' or ;uestionnaire met%od, te#e%onic inter!ie as e## as t%e

ersona# inter!ie met%ods of data co##ection, ooks, t%e internet, coman' roc%ures,

roduct roc%ures, t%e coman' esite, cometitor9s esites etc, nesaer artic#es

etc.

LIMITATIONS

Time %as #a'ed a iggest constraint t%at t%e researc% cou#d not e carried

out comre%ensi!e#' as t%e duration of t%e stud'

$s t%e researc% contains t%e Secondar' data for making a financia# ana#'sis t%e

accurac' and re#iai#it' of t%e ana#'sis deends on re#iai#it' of figures deri!ed

from financia# statements.

T%e sam#e sie for co##ecting t%e rimar' data as meager as it inc#udes on#'

++ resondents, %ence t%e conc#usion ou#d not e a uni!ersa# one.

:ersona# iases and reudices of t%e customers ma' a#so affect t%e stud'.

Insite of t%e #imitations, t%e stud' as effecti!e in ana#'ing t%e erformance of 46"

ank in ancassurance it% secific reference to #ife insurance.

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Bancassurance

2.INTRODUCTION

T%e usiness of anking around t%e g#oe is c%anging due to integration of g#oa# financia#

markets, de!e#oment of ne tec%no#ogies, uni!ersa#iation of anking oerations and

di!ersification in non-anking acti!ities. ue to a## t%ese mo!ements, t%e oundaries t%at %a!e

ket !arious financia# ser!ices searate from eac% ot%er %a!e !anis%ed. T%e coming toget%er of

different financia# ser!ices %as ro!ided s'nergies in oerations and de!e#oment of ne

concets.

Bancassurance sim#' means se##ing of insurance roducts ' anks. In t%is arrangement,

insurance comanies and anks undergo a tie-u, t%ere' a##oing anks to se## t%e insurance

roducts to its customers. T%is is a s'stem in %ic% a ank %as a cororate agenc' it% one

insurance coman' to se## its roducts. B' se##ing insurance o#icies ank earns a re!enue

stream aart from interest. It is ca##ed as fee-ased income. T%is income is ure#' risk free for

t%e ank since t%e ank sim#' #a's t%e ro#e of an intermediar' for sourcing usiness to t%e

insurance coman'.

B/,,2/* V*/2*, M2, H* C:* O9*+*,

B/=, I/,2*,

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Bancassurance

CONCEPT

B/,,2/*is defined as


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Bancassuranceregu#ator' aut%orit'. But t%is %as ro!en to e a oom for t%e Insurance and Banking

comanies toget%er and ot% t%e different sector of t%e industr' %as s%on etter resu#t and

imro!ement in t%eir on fie#d due coming of t%e %o#e ne concet of ancassurance.

Bancassurance in its sim#est form is t%e distriution of insurance roducts t%roug% a ank9s

distriution c%anne#s. It is t%e ro!ision of insurance and anking roducts and ser!ice t%roug%

a common distriution c%anne# or t%roug% a common ase. 4oe!er, t%e e!o#ution of

ancassurance as a concet and its ractica# im#ementation in !arious arts of t%e or#d, %a!e

t%ron u a numer of oortunities and c%a##enges. T%e moti!es e%ind ancassurance a#so

!ar'. 6or Banks, it is n means of roduct di!ersification and source of additiona# fee income.

Insurance comanies see ancassurance as a too# for increasing t%eir market enetration and

remium turno!er. T%e customer sees ancassurance as a onana in terms of reduced rice,

%ig% ;ua#it' roducts and de#i!er' at t%e doorstes. 0it% t%e #iera#iation of t%e insurance

sector and cometition toug%er t%an e!er efore, comanies are increasing#' tr'ing to come out

it% etter inno!ations to sta' t%at one-ste a%ead.

>e #a'ers ma' find it e2ensi!e and time consuming to ring u a distriution netork to

suc% standards. Yet, if t%e' ant to make t%e most of India=s #arge ou#ation ase and reac%

out to a ort%%i#e numer of customers, making use of ot%er distriution a!enues ecomes a

must. $#ternate c%anne#s i## %e# to ring don t%e costs of distriution and t%us enefit t%e

customers

MEANING

B/,,2/* is a comination of to ords Banc and K,,2/*" signif'ing t%at ot%

anking and insurance roducts and ser!ice are ro!ided ' one common cororate entit' or

' anking coman' it% co##aoration it% an' articu#ar Insurance coman'. In concrete

terms ancassurance, %ic% is a#so knon as A::4+// - descries a ackage of financia#

ser!ices t%at can fu#fi## ot% anking and insurance needs at t%e same time.

It is t%e ro!ision of insurance (assurance) roducts ' a ank. T%e usage of t%e ord icked

u as anks and insurance comanies merged and anks soug%t to ro!ide insurance,

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Bancassuranceesecia##' in markets t%at %a!e een #iera#ied recent#'. In its sim#est form, Bancassurance is

t%e distriution of insurance roducts t%roug% t%e Bank9s distriution netork. It is a

%enomenon %erein insurance roducts are offered t%roug% t%e distriution c%anne#s of t%e

anking ser!ices a#ong it% a com#ete range of anking and in!estment roducts and

ser!ices.

DEFINITION

T* *? 4+, ;;**6 +/ F/* +/ 10# 6*4+/* * ,:* 4 +/,2/* ;62, 2

/=," 6+,+2+/ //*:, (SCOR %00@).

T* L+4* I/,2/* M=*+/ /6 R*,* A,,++/", (LIMRA",) +/,2/* 6++/

6*4+/*, /,,2/* , * ;+,+/ 4 L+4* +/,2/* ,*+*, /=, /6 2+:6+/

,+*+*,3.

$ccording to IR$,


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Bancassurance

3.BANCASSURANCE

Bancassurance is t%e distriution of insurance roducts t%roug% a ank=s distriution c%anne#s.

It is a ser!ice t%at can fu#fi## ot% anking and insurance needs at t%e same time. Bancassurance

as a concet first egan in India %en t%e insurance industr' oened u to ri!ate articiation

in ecemer .

T** * ,+:: @ ?6*:, 4 B/,,2/*

istriution a##iance eteen t%e insurance coman' and t%e ank.

Aoint !enture eteen t%e to comanies.

6u## integration of anks and insurance ser!ices

H64 /= B/,,2/* ;*+/, 4:: +/ * ,*/6 ?6*:

M@E3 ES"RI:TI@> $$>T$CES IS$$>T$CES

istriution

$greement

B/= , , /

+/*?*6+ 4 /

+/,2/* ?;/

O;*+/ , ++:+

:2/ /* ;62#

4 ;,,++:+ +/

;* 2:2*

Aoint enture B/= +/ ;/*,+;

+ /* ?*

+/,2/* ?;/+*,

T/,4* 4 *>;*+,* D+44+2: # ?/* +/

* :/ *?

6u##Integration C*+/ 4 /*,2,+6+ S?* ;*2:2* S2,/+: +/*,?*/

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Bancassurance

H 6*, + *:;

E!er' insurance coman' %as a ants to gro ;uick#' to reduce ainfu# start-u

e2ense o!erruns. Banks it% t%eir %uge netorks and #arge customer ases gi!e

insurers an oortunit' to do t%is efficient#'.It gi!es t%e comanies an oortunit' to ta t%e rura# sectors. Se##ing insurance

t%roug% traditiona# met%ods in t%ese sectors fa##s !er' e2ensi!e. $ tie u it% a

ank it% an aroriate customer ase can gi!e an insurer a c%ea access to t%ese

areas.

Bancassurance ena#es to %a!e a %uge oo# of ski##ed rofessiona#s.Bancassurance ena#es to de!e#o a sa#es cu#ture it%in t%e ank. It %e#s to c%ange

t%e traditiona# mindset of anking comanies.

>e concet, ancassurance %as een a %enomena# success in most of t%e cases. "urrent#'

anks are financia# institutions. T%e distriution of insurance roducts t%roug% anks %as een

eneficia# to ot% insurance and anking comanies as e## as t%e customers.

LEGAL REUIREMENTS TO ENTER INTO!ANCASSURANCE

T%e ;+* 4 /,,2/* ofR*,** B/= 4 I/6+eing t%e *2: 2+ 4

* /=+/ ,,*?, it% t%e reorganiation of t%e need for anks to di!ersif' t%eir acti!ities

at t%e rig%t time, ermitted t%em to enter into insurance sector as e##. It %as issued a set of

detai#ed guide#ines setting out !arious a's for a ank in India to enter into insurance sector.

IR$ %as a#so fe#t t%e necessit' of introducing an additiona# c%anne# of distriution, %ic% ist%e Bancassurance to reac% out more eo#e. It started icking u after Insurance Regu#ator'

and e!e#oment $ut%orit' (IR$) assed a notification in @ctoer *++* on ="ororate

$genc'= regu#ations.

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BancassuranceIn India, t%e anking and insurance sectors are regu#ated ' to different entities (anking '

RBI and insurance ' IR$) and ancassurance eing t%e cominations of to sectors comes

under t%e ur!ie of ot% t%e regu#ators. Eac% of t%e regu#ators %as gi!en out detai#ed

guide#ines for anks getting into insurance sector. 4ig%#ig%ts of t%e guide#ines are reroduced

e#oD

RBI 2+6*:+/* 4 /=, */*+/ +/ +/,2/* ,* ;+6*, ** ;+/, 4 /=,.

T* *

Aoint !entures i## e a##oed for financia##' strong anks is%ing to undertake

insurance usiness it% risk articiation

6or anks %ic% are not e#igi#e for t%is oint-!enture otion, an in!estment otion of

u to +F of t%e net ort% of t%e ank or Rs.5+ crores, %ic%e!er is #oer, is a!ai#a#e

6ina##', an' commercia# ank i## e a##oed to undertake insurance usiness as agent

of insurance comanies. T%is i## e on a fee asis it% no-risk articiation.

T* I/,2/* R*2: /6 D**:;?*/ A2+ (IRDA) 2+6*:+/*, 4 *

/,,2/* *

Eac% ank t%at se##s insurance must %a!e a c%ief insurance e2ecuti!e to %and#e a## t%einsurance acti!ities.

$## t%e eo#e in!o#!ed in se##ing s%ou#d under-go mandator' training at an institute

accredited ' IR$ and ass t%e e2amination conducted ' t%e aut%orit'.

"ommercia# anks, inc#uding cooerati!e anks and regiona# rura# anks, ma' ecome

cororate agents for one insurance coman'.

Banks cannot ecome insurance rokers.

"urrent#' t%ere %as een an increase in t%e numer of tie-us it% anks and insurance

comanies.

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Bancassurance

REASONS FOR !AN"S TO ENTER INTO!ANCASSURANCE

Intense cometition eteen anks, against a ackground of s%rinking interest

margins, %as #ed to an increase in t%e administrati!e and marketing costs and #imited

t%e rofit margins of t%e traditiona# anking roducts. >e roducts cou#d

sustantia##' en%ance t%e rofitai#it' and increase roducti!it'.

6inancia# enefits to a ank erformance can f#o in a numer of a's, as rief#'

out#ined e#oD

Increased income generated, in t%e form of commissions and7or rofits from t%e

usiness (deending uon t%e re#ations%i) Reduction of t%e effect of t%e ank fi2ed costs, as t%e' are no a#so sread o!er t%e

#ife insurance re#ations%i.

@ortunit' to increase t%e roducti!it' of staff, as t%e' no %a!e t%e c%ance to

offer a ider range of ser!ices to c#ients

"ustomer references regarding in!estments are c%anging. 6or medium-term and

#ong-term in!estments t%ere is a trend aa' from deosits and toard insurance

roducts and mutua# funds %ere t%e return is usua##' %ig%er t%an t%e return on

traditiona# deosit accounts. T%is s%ift in in!estment references %as #ed to a

reduction in t%e s%are of ersona# sa!ings %e#d as deosits, traditiona##' t%e core

e#ement of rofitai#it' for a ank %ic% manages c#ient9s mone'. Banks %a!e

soug%t to offset some of t%e #osses ' entering #ife insurance usiness. 3ife

insurance is a#so fre;uent#' suorted ' fa!ora#e ta2 treatment to encourage

ri!ate ro!ision for rotection or retirement #anning. T%is referentia# treatment

makes insurance roducts more attracti!e to customers and anks see anoortunit' for rofita#e sa#es of suc% roducts

$na#'sis of a!ai#a#e information on t%e customer financia# and socia# situation can

e of great %e# in disco!ering customer needs and romoting or manufacturing

ne roducts or ser!ices. Banks e#ie!e t%at t%e ;ua#it' of t%eir c#ient information

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Bancassurancegi!es t%em an ad!antage in distriuting roducts rofita#', comared it% ot%er

distriutors (e.g. insurance comanies).

T%e rea#iation t%at oint ank and insurance roducts can e etter for t%e customer as

t%e' ro!ide more com#ete so#utions t%an traditiona# standa#one anking or insurance

roducts.

Banks are e2eriencing t%e increased moi#it' of t%eir customers, %o to a great e2tent

tend to %a!e accounts it% more t%an one ank. T%erefore t%ere is a strong need for

customer #o'a#t' to an organiation to e en%anced.

"#ient re#ations%i management %as ecome a ke' strateg'. To ui#d and maintain c#ient

re#ations%is, anks and insurers are forming artners%is to ro!ide t%eir c#ients it% a

ide range of ank and insurance roducts from one source.

It is e#ie!ed t%at as t%e numer of roducts t%at a customer urc%ases from an

organiation increases t%e c%ance of #osing t%at secific customer to a cometitor

decreases

!ENEFITS AND VALUE PROPOSITION IN!ANCASSURANCE

E!er'od' is a inner in ancassurance. 6or anks it main#' acts as a means of roduct

di!ersification and additiona# fee income for insurance coman' it acts as a too# for increasing

t%eir market enetration and remium turno!er and for customer it acts as a onana in terms

of reduced rice, %ig% ;ua#it' roducts and de#i!er' to doorstes. 4ence it is a in-in

so#ution for e!er'one %o in!o#!ed.

B*/*4+, T * /=*,

:roducti!it' of t%e em#o'ees increases.

Increase in return on assets ' ui#ding fee income t%roug% t%e sa#e of insurance

roducts.

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Bancassurance"an #e!erage on face-to-face contacts and aareness aout t%e financia# conditions of

customers to se## insurance roducts.

Banks can cross se## insurance roducts EgD Term insurance roducts it% #oans.

B' acting as a one sto s%o for a## financia# ser!ices, t%e' can imro!e o!era##

customer satisfaction resu#ting in %ig%er customer retention #e!e#s

Banks eno' significant rand aareness it%in t%eir geogra%ica# region ro!iding for

a #oer er #ead cost %en ad!ertising t%roug% rint, radio and te#e!ision. T%e

ad!antage of a ank o!er traditiona# distriutors is t%e #oer cost er sa#es #ead made

ossi#e ' t%eir siea#e #o'a# customer ase.

"an esta#is% sa#es oriented cu#ture among t%e em#o'ees

B*/*4+, * 2,?*,

"omre%ensi!e financia# ad!isor' ser!ices under one roof i.e. insurance ser!ices a#ong

it% ot%er financia# ser!ices suc% as anking, mutua# funds, ersona# #oans etc

En%anced con!enience on t%e art of t%e insured

Eas' access for c#aims, as anks is a regu#ar go.

Inno!ati!e and etter roduct ranges

B*/*4+, * +/,2*,

Insurers can e2#oit t%e anks= ide netork of ranc%es for distriution of roducts.

T%e enetration of anks= ranc%es into t%e rura# areas can e uti#ied to se## roducts in

t%ose areas.

"ustomer dataase #ike customers= financia# standing, sending %aits, in!estment and

urc%ase caai#it' can e used to customie roducts and se## according#'.

Since anks %a!e a#read' esta#is%ed re#ations%i it% customers, con!ersion ratio of

#eads to sa#es is #ike#' to e %ig%. 6urt%er ser!ice asect can a#so e tack#ed easi#'.

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Bancassurance

V:2* P;,++/,

T%e ser!ices offered ' t%e anks as e## as t%e insurance comanies, are re#ated to assets and

risks. T%e' %a!e to e managed. T%ese institutions manage risks and assets for t%e customers,

reducing and taking o!er t%e risks and transforming t%e assets. T%e cores of t%e usinesses are

simi#ar, t%oug% not same. T%e asic !a#ues offered ' anks, Insurance customer are

V:2* P;,++/s B/=,

Banks %a!e an e2tensi!e ranc% netork to make face to face contact it% customers

and ui#d trust.

Banks eno' significant rand aareness it%in t%eir geogra%ica# region ro!iding for

a #oer er #ead cost %en ad!ertising t%roug% rint, radio and te#e!ision. T%e #o'a#customer ase a#so contriutes to #oer cost er sa#es #ead

Banks %a!e e2tensi!e e2erience in marketing to ot% e2isting customers (for retention

and cross se##ing) and non-customers (for ac;uiring).

Banks %a!e mu#ti#e communication c%anne#s #ike statement inserts, direct mai#, $TMs,

te#emarketing etc at t%eir disosa# %ic% can imro!e transaction rocessing

andcustomerser!ice.

V:2* P;,++/, I/,2*

Insurer can increase t%eir !o#ume of usiness ' igg' riding on #arge anking

distriution c%anne# %ic% comrises of a !ast numer of ranc%es

It can so#!e t%e difficu#ties arising out of rice cometition, %ic% as dri!en don t%e

margins and increased t%e comensation demand of successfu# agents.

B' cutting cots insures can ser!er etter to t%e customers in terms of #oer remium

rate and etter risk co!erage t%roug% roduct di!ersification.

V:2* P;,++/, C2,?*

:roduct inno!ation and distriution acti!ities are directed toards t%e satisfaction of t%e

needs of t%e customer. Bancassurance mode# assists customers in terms of reduced

rice, di!ersified roducts ;ua#it'.

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Bancassurance :roducts, in time and doorste ser!ice. In case of India, a maorit' of eo#e %o

remain untaed ' con!entiona# insurance mode# can enefit from e2tensi!e reac%

ofanks=netork.

4.COMPANY PROFILE

46" as started ' 4asmuk% B%ai :arek% inGG it% t%e formation of Ma#%otra

"ommittee. 46" as incororated it% t%e rimar' oecti!e of meeting a socia# need t%at

of romoting %ome oners%i ' ro!iding #ong-term finance to %ouse%o#ds for t%eir %ousing

needs. 46" as romoted it% an initia# s%are caita# of Rs. + corers.

46" ank as incororated in $ugust H in t%e name of =46" Bank 3imited=, it% its

registered office in Mumai, India. T%e 4ousing e!e#oment 6inance "ororation 3imited

(46") as amongst t%e first to recei!e an =in rinci#e= aro!a# from t%e Reser!e Bank of

India (RBI) to set u a ank in t%e ri!ate sector, as art of t%e RBI=s #iera#iation of t%e

Indian Banking Industr' in H.It commenced oerations as a Sc%edu#ed "ommercia# Bankon t% Aanuar' 5. T%e ank %as gron consistent#' and is no amongst t%e #eading

#a'ers in t%e industr'

SNAPSHOT

Incororated in GG as t%e first secia#ied Mortgage "oman' in India.

$#most +F of initia# s%are%o#ding in t%e %ands of domestic intuitions and retai#

in!estors. "urrent GGF of s%ares %e#d ' foreign institutiona# in!estors.

Besides t%e core usiness of mortgage 46" %as e!o#!ed into a financia# cong#omerate

it% %o#dings InD

46" Standard 3ife insurance "oman'- 46" %o#ds GJ.+G F.

%% ' P *


23/58

Bancassurance46" $sset Management "oman' K 46" %o#ds 5+.F

46" Bank- 46" %o#ds **.*5F.

Inte#enet C#oa# (Business :rocess @utsourcing) K 46" %o#ds 5+F.

46" "%u Cenera# Insurance "oman' K 46" %o#ds GHF

STANDARD LIFE GROUP

Standard 3ife is Euroe9s #argest mutua# #ife assurance coman'. Standard 3ife, %ic% %as

een in t%e #ife insurance usiness for t%e ast G5 'ears is a modern coman' sur!i!ing ;uite

a fe c%anges since se##ing its first o#ic' in J*5. T%e coman' e2anded in t%e t%centur'

from kits origina# Edinurg% remises, oening offices in ot%er tons and ac;uitting ot%er

simi#ar usinesses.

Standard 3ife "urrent#' %as assets e2ceeding o!er L G+ i##ion under its management and %as

t%e distinction of eing accorded $$$? rating conse;uent#' for t%e si2 'ears ' Standard and

:oor.

SNAPSHOT

6ounded in JG5, coman' suorting generation for #ast G 'ears.

"urrent#' o!er 5 m. :o#ic' %o#ders enefiting from t%e ser!ices offered.

Euroe9s #argest mutua# #ife insurer

%@ ' P *


24/58

Bancassurance

% ' P *


25/58


26/58

Bancassurance

INCORPORATION OF $DFC STANDARD LIFEINSURANCE COMPANY LIMITED

T* ?;/ , +/;*6 / 1 A22, %000 2/6* * /?* 4 HDFC S/66

L+4* I/,2/* C?;/ L+?+*6.T%eir amition from t%e eginning as to e t%e first

ri!ate coman' to re-enter t%e #ife insurance market in India. @n t%e *Nrd of @ctoer *+++,

t%is amition as rea#ised %en 46" Standard 3ife as t%e first #ife coman' to e granted

a certificate of registration.

46" is t%e maorit' stake%o#der in t%e insurance A it% J.HF sta#e and Standard of as a

sta#e J.F Mr. eeak Sata#ekar is t%e M and "E@ of t%e !enture Ci!en Standard 3ife=s

e2isting in!estment in t%e 46" Crou, t%is is t%e ma2imum in!estment a##oed under

current regu#ations. 46" and Standard 3ife %a!e a #ong and c#ose re#ations%i ui#t uon

s%ared !a#ues and trust. T%e amition of 46" Standard 3ife is to mirror t%e success of t%e

arent comanies. 46" Standard 3ife Insurance "oman' 3td. is one of India9s #eading

ri!ate #ife insurance comanies, %ic% offers a range of indi!idua# and grou insurance

so#utions. It is a oint !enture eteen 4ousing e!e#oment 6inance "ororation 3imited

(46" 3td.), India9s #eading %ousing finance institution and one of t%e susidiaries of

Standard 3ife. Bot% t%e romoters are e## knon for t%eir et%ica# dea#ings and financia#

strengt% and are t%us committed to eing a #ong-term #a'er in t%e #ife insurance industr'.

% ' P *


27/58


28/58


29/58


30/58

Bancassurance0%i#e 'ou are us' c#iming t%e #adder of success toda', it is imortant for 'ou to take time and

#an for 'our #ife after retirement. 4a!ing an ear#' start for retirement #anning can make a

significant difference to 'our sa!ings. T%ink aout 'our go#den 'ears e!en efore 'ou %a!e

reac%ed t%em. T%e ke' is to t%ink a%ead and #an e## using 'our time and mone'.

NEEDS

:ro!ide for regu#ar income ost retirement

Immediate Ta2 enefits

3ead a secure, indeendent and comforta#e #ife st'#e in 'our retirement 'ears.

PRODUCT PROFILE

PROTECTION PLANS

46" Term $ssurance :#an

46" 3oan "o!er Term $ssurance :#an

46" 4ome 3oan :rotection :#an

CHILDREN"S PLANS

46" "%i#dren9s :#an

46" 1nit 3inked Young Star II

46" 1nit 3inked Young Star :#us II

46" 1nit 3inked Young Star "%amion

RETIREMENT PLANS

46" :ersona# :ension :#an

46" 1nit 3inked :ension II

46" 1nit 3inked :ension Ma2imiser II

46" Immediate $nnuit'

@0 ' P *


31/58

Bancassurance

SAVINGS & INVESTMENT PLANS

46" 1nit 3inked Endoment #us II

46" Sim#i3ife

46" 1nit 3inked Endoment II

46" 1nit 3inked En%anced 3ife :rotection II

46" 1nit 3inked 0ea#t% Ma2imiser :#us 46" 1nit 3inked 0ea#t% Mu#ti#ier

46" 1nit 3inked Endoment 0inner

46" Endoment $ssurance :#an

46" Mone' Back :#an

46" Sing#e :remium 0%o#e of 3ife Insurance :#an

46" $ssurance :#an

46" Sa!ings $ssurance :#an

HEALTH PLANS

46" "ritica# "are :#an

46" Surgi "are :#an

@1 ' P *
http://www.hdfcinsurance.com/Products/SavingsPlans/SavingsPlans.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/EndowmentAssurance.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/WholeLife.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/Assurance.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/SavingsAssurance.aspxhttp://www.hdfcinsurance.com/Products/HealthPlans/CriticalCare.aspxhttp://www.hdfcinsurance.com/Products/HealthPlans/SurgiCare.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/EndowmentAssurance.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/WholeLife.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/Assurance.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/SavingsAssurance.aspxhttp://www.hdfcinsurance.com/Products/HealthPlans/CriticalCare.aspxhttp://www.hdfcinsurance.com/Products/HealthPlans/SurgiCare.aspxhttp://www.hdfcinsurance.com/Products/SavingsPlans/SavingsPlans.aspx


32/58

Bancassurance

CUSTOMER SERVICE

P*?+2? P?*/ O;+/,$t a Branc%, B' :ost, ro Bo2es,@n#ine :a'ment, "redit "ard 6aci#it', Eas' Bi##

P:+ S*++/

"%ange in ersona# detai#s

"%ange in o#ic' enefits

@t%ers suc% as #oss of o#ic' document, o#ic' cance##ation in t%e 6ree 3ook.

C/* +/ P*,/: D*+:,

"%anges in 'our mai#ing address

"%ange of >ominee7Beneficiar' or $ointee

:#ease fi## u t%e $#teration 6orm and send it to 'ournearest ranc%

C/* +/ P:+ B*/*4+,

"%ange in fre;uenc' of remium a'ment

Reduction in t%e #e!e# co!er7remium of 'our o#ic'

Remo!a# of additiona# enefits (Riders)

Reduction in term of t%e o#ic'

6i## u t%e$#teration 6ormand send it to 'ournearest ranc%at #east 5 da's rior to

ne2t remium due date :#ease note t%ese c%anges can e made for


33/58

Bancassurance Youant to return t%e o#ic' it%in t%e


34/58


35/58


36/58

Bancassurance "ertificate issued ' (attending doctor, usua# fami#' %'sician and em#o'er) (6ormat

i## e issued ' "#aims Team) 3ega# E!idence of Tit#e (in case t%ere is no nominee)

$ co' of deat% certificate issued ' Municia# "ororation 7 Co!ernmentQ

:roof of identit' of eneficiar' !i assort or E#ection I or :an "ard @r ri!ing

3icense.Q

:roof of residence of eneficiar' !i E#ectricit' i##s or Ration card or te#e%one i## or

assort (i##s not greater t%an N mont%s)Q

isc%arge ouc%er (du#' attested) a#ongit% a co' of assook.

B. Acci$ental/%ur$er/Suici$e

eat% "#aim 6orm

@rigina# :o#ic' ocument

$ co' of deat% certificate issued ' Municia# "ororation 7 Co!ernmentQ $ co' of cause of deat% certificate issued ' t%e doctor 7 %osita# Q

$ co' of cremation or Buria# "ertificate Q

3ega# E!idence of Tit#e (in case t%ere is no nominee)

$ co' of 6IR (6irst Information Reort), :anc%nama In;uest Reort and

6ina# In!estigation Reort (attested ' :o#ice $ut%orities)

$ co' of :ost mortem reort and c%emica# ana#'sis 7 !iscera reort (attested '

%osita# aut%orities)

$ co' of !a#id dri!ing #icense of t%e deceased 3ife $ssured

isc%arge ouc%er (du#' attested) a#ong it% a co' of assook%

C++: I::/*,, C:+?,

"ritica# I##ness 6orm

"oies of medica# records at t%e time of diagnosis of "ritica# I##ness

"oies of ast medica# records for treatment taken.

isc%arge ouc%er (du#' attested) a#ongit% a co' of assook.

S2+ C* C:+?,

:re- $ut%oriation 6orm

erified :%otoco' of t%e o#ic' document.

u#' fi##ed and signed c#aim form in origina#.

erified %otoco' of a %oto identit' document as sumitted at roosa# stage

erified %otoco' of t%e %osita#iation disc%arge card7summar'

erified %otoco' of t%e %osita#iation in!oice a#ong it% t%e itemied in!oice and

corresonding a'ment receits

@ ' P *


37/58

Bancassurance Surgica# summar' (in case t%e c#aimant %as undergone a surger') !erified ' t%e oerating

surgeon. erified %otocoies of a## t%e suorting diagnostic reorts and rescritions

erified %otoco' of t%e T:$ I card

$n' ot%er documents or information as ma' e re;uired ' t%e "oman' for rocessing of

t%e c#aim deending on t%e cause of t%e c#aim.

$## documents must e du#' attested ' t%e :o#ic'%o#der or "#aimant.

B/2,

0e are #eased to announce our Eig%t% Successi!e Re!ersionar' Bonus for t%e 'ear from

$ri# *++G to N Marc% *++J. T%is onus dec#aration i## enefit a## =0it% :rofits= customers

%o %a!e aid a## remiums in fu## %en due. 0e %a!e e2erienced sustantia# grot% o!er t%e

#ast 'ear and toda' co!er o!er NH, ++,+++ :o#ic' 4o#ders. $s a resu#t of an imro!ed

erformance and a groing usiness, e no %a!e a nationide footrint of o!er 5G*

ranc%es.

$ * * ;:++*, **6 +, 6*:+/

T%is onus dec#aration is a#ica#e on#' to o#icies under t%e fo##oing =0it% :rofits= #ansD

46" Endoment $ssurance :#an

46" "%i#dren9s :#an 46" Mone' Back :#an

46" Sing#e :remium 0%o#e of 3ife :#an

46" :ersona# :ension :#an

46" Sa!ings $ssurance :#an

46" $ssurance :#an

H 6*, + ;4+, ;:+ =

@!er t%e term of 'our o#ic', e in!est t%e remiums t%at e recei!e from 'ou and from ot%er

simi#ar =0it% :rofits= o#ic'%o#ders in a =0it% :rofits= fund. 0e in!est in a !ariet' of assets to

ac%ie!e an in!estment return on 'our o#ic'. Benefits and e2enses of 'our o#ic' are aid out

of t%is fund. 0e use onuses to gi!e 'ou a maturit' !a#ue, %ic% fair#' ref#ects t%e

erformance of t%e fund (in!estment or ot%erise) o!er t%e term of t%e o#ic'. T%e #e!e# of

onuses e a##ocate aims to de#i!er a fair s%are of t%e fund %en t%e o#ic' matures or on a

deat% c#aim.

@ ' P *


38/58

BancassuranceN*$dditiona# enefits taken ' 'ou suc% as critica# i##ness or accidenta# deat% enefits,

offer rotection for different circumstances and %a!e no in!estment-re#ated enefits. 4ence

t%e' do not attract onuses.

What are the $ifferent &onuses availa&le'

R**,+/B/2,

0e dec#are Re!ersionar' Bonus annua##' as a ercentage of t%e Sum $ssured (:#us attac%ing

onuses in case of 46" Sing#e :remium 0%o#e of 3ife o#icies).

@nce added to 'our o#ic', t%is Bonus is guaranteed to e a'a#e at maturit'. 6or Sing#e

:remium 0%o#e of 3ife o#icies, %ic% do not %a!e a maturit' date, t%is onus are guaranteed

to e aid on se#ected future o#ic' anni!ersaries. 6or a## our =0it% :rofits= #ans, t%e inf#uence

of our re!ersionar' onus dec#aration on t%e deat% enefit is go!erned ' t%e o#ic' ording

under eac% #an. 0e ca#cu#ate t%is onus keeing in mind a #ong-term !ie of in!estment

returns, e2enses, morta#it' and ot%er e2erience e#ements.

I/*+?B/2,

if a maturit' c#aim or deat% c#aim is made efore t%e ne2t #anned re!ersionar' onus

dec#aration, e i## add an Interim Bonus to 'our o#ic'. $## o#icies %ere suc% c#aims %a!e

occurred do not articiate in t%e ne2t re!ersionar' onus dec#aration. T%erefore, e add an

Interim Bonus to gi!e 'ou or 'our nominee a fair s%are of onus earned o!er t%e ne2t financia#

'ear i.e. from $ri# *++J to t%e date of c#aim. 6or a## our =0it% :rofits= #ans, t%e inf#uence of

our interim onus dec#aration on t%e deat% enefit is go!erned ' t%e o#ic'

ordingundereac%#an.

T*?+/:B/2,

T%is onus is sometimes added to a o#ic' on maturit' and a##os us to a' t%e fair s%are of

t%e =0it% :rofits= fund ased on t%e e2erience o!er t%e o#ic' term.

$ +, +/ 2 /2, ,*?*/

Your onus statement e2#ains %o t%is announcement adds to 'our enefits. It containsD

@ ' P *


39/58

BancassuranceT%e asic Sum $ssured on 'our o#ic'.

$n' Re!ersionar' Bonuses a#read' attac%ed to 'our o#ic' from re!ious 'ears.

T%e Re!ersionar' Bonus rate to e a#ied to 'our o#ic' for t%e 'ear ending N-N-*++J.

T%e Re!ersionar' Bonus t%at i## e added in resect of t%is current onus announcement .

Q+/6: /*# * +*, */*4+ 4 P*/,+/ ;:+ +, * *+*?*/ */*4+ 2

//2+ ;+/,.

@ ' P *


40/58

Bancassurance

6.RESEARCH METHODOLOGY

D ::*+/

6or data co##ection, e de!e#oed a e## defined ;uestionnaire as a researc% instrument,

consisting ;uestions aimed to measure t%e eo#e ercetion aout insurance, t%eir need and

ro#ems. 0e conducted unstructured inter!ies sam#e sie of ++ genera# eo#e Sur!e'

#ocation as Mumai etc%

Ta#es ere used for t%e ana#'sis of t%e co##ected data. T%e data is a#so neat#' resented it%

t%e %e# of gra%s and c%art. :ercentages and a!erages %a!e a#so een used to reresent data

c#ear#' and effecti!e#'. $## t%e data generated as rimar' data t%at as generated direct#'

from face to face communication.

D /:,+,

T%e data co##ected ased on structured ;uestionnaire is recorded on an e2ce# s%eet and it%

t%e %e# of ie c%art ana#'sis a#ong it% i##ar data ana#'sis is generated and ased on t%is

findings a ;ua#itati!e inferences are made for eac% ana#'sis. T%e same is eing resented in

form of gra%s and ta#es

S2* R*,2:,

T%e fo##oing are m' findings regarding t%e sur!e' conducted. Ta#es ere used for t%e

ana#'sis of t%e co##ected data. Cra%s and c%arts %a!e a#so een used to reresent data c#ear#'and effecti!e#'.

0 ' P *


41/58

Bancassurance

7.DATA ANALYSIS AND INTERPRETATION

TABLE.1 - PERSONAL VIE$S ABOUT INSURANCE

1 ' P *

PERSONAL

VIE$S ABOUT

INSURANCE

S/:

A**

A** N*2: D+,** S/:

D+,**

T:

I/,2/* ;+6*,

;*+/ 2

/6 2 4?+:

@% @ 1 1% 0 100

I/,2/* +, /

,:2* /**,,+

4 / +/6++62:Q

4?+:

10 @0 @ 1 @ 100

I/,2/* +, /* 4

* *, I/*,?*/

;+/,

%0 % %1 100


42/58


43/58


44/58

Bancassurance

INFERENCED

6rom t%e ao!e e can understand t%at t%e maor Source to Ono aout 46" 3ife Insurance

is $d!ertisement, %ic% is con!e'ed ' F of t%e resondents. 0%ereas 46" Bank ons

NF

TABLE.5- A$ARE OF OBTAINING HDFC STANDARD LIFE POLICY

FROM HDFC BAN

INFERENCE

' P *

A$ARE OF OBTAINING

POLICY

FROM HDFC BAN

NO. OF

RESPONDENTS

PERCENTAGE

Y*,

N5 5

TOTAL100 100


45/58


46/58

Bancassurance

INFERENCED6rom t%e ao!e, it can e oser!ed t%at

(a) *F of t%e resondents strong#' agree t%at t%e' %a!e noticed t%e dis#a's of 46"

standard #ife Insurance in 46" Bank. $#so **F suort t%em ' agreeing to it. JF

remain uniased and NNF disagree t%e statement. $nd 5F of t%e resondents %a!e

strong#' disagreed t%e same.

' P *

I/+++*, =*/

H64 /=

S/:

A**

A** N*2: D+,** S/:

D+,**

T:

6+,;:, *6+/

HDFC S/66 L+4*I/,2/* +/ HDFC

B/=

1% %% 1 @@ 15 100

6*+,*?*/,Q:+/=,

*.# *6+/ HDFC

S/66 L+4*

I/,2/* +/ HDFC

B/= $* S+*

10 %% 1@ @ %1 100

HDFC B/= E?;:**,

* *>;:+/*6 2

2 * ;:++*,

4 HDFC ,/66 :+4*

+/,2/* (2

;/* ::,Q6+*

/)

1 % 1% @5 1% 100


47/58


48/58


49/58


50/58

Bancassurance6rom t%e ao!e, it can e seen t%at *F of t%e resondents strong#' agree t%at t%e' i## refer

46" Bank as a one-sto s%o for a## t%eir financia# needs. **F of t%e resondents re#ied

t%at t%e' agreed and NF of t%e resondents, %ic% is a maorit', remain neutra# aout t%is.

But **F%a!e denied t%e same. $nd JF %a!e strong#' disagreed to it.

TABLE-11 REASONS FOR TAING A LIFE INSURANCE POLICY IN

THE NEAR FUTURE

INFERENCED

50 ' P *

REASONS FOR

TAING A LIFE

INSURANCE

POLICY

H+:

E,,*/+:

E,,*/+:L*,

E,,*/+:

N

E,,*/+:

N

E,,*/+:

A A::

NQAT:

P, *+*?*/

+/?*

10 1@ 11 5 100

I/*, +/ +:6",6*?, 5 1% 5 100

G+* P*+/

/6 ,4*

* 4?+: +/

,* 4

2/42/*

2*/*,

@ @ 11 1% 1@ 5 100

T> B*/*4+, 1 11 @ @ 5 100

B** *2/,

+/ *?, 4

+/*,?*/

11 1 @ 5 100


51/58

Bancassurance6rom t%e ao!e, it can e oser!ed t%at, out of H* resondents, resondents i.e., H5F ranked

Ta2 Benefits as a 4ig%#' Essentia# one for taking a o#ic' in t%e near future. $nd

resondents i.e., NJF ranked Better returns as an essentia# one. * resondents i.e., *JF ranked

In!est in "%i#d dreams as 3east Essentia#.N resondents i.e., NF ranked :ost retirement

income as >ot Essentia#. T%e reason for taking t%e o#ic' to rotect t%e fami#' in case of

une2ected occurrences %as een ranked as >ot Essentia# at a## ' N resondents, i.e., NF.

TABLE-1% CHOOSING HDFC STANDARD LIFE INSURANCE TO TAE A POLICY

IN FUTURE

INFERENCED

6rom t%e ao!e ta#e it can e seen t%at HGF of t%e resondents re#ied t%at t%eir c%oice i##

e 46" Standard 3ife Insurance and 5NF denied t%e same. >ote t%at 5J resondents %o are

not %a!ing t%e idea of taking an' #ife insurance o#ic' in t%e near future %a!e een to#d to

assume if t%e' take a #ife insurance o#ic' in distant future to resond to t%is ;uestion.

51 ' P *

C,+/ H64 S/66

L+4* I/,2/*N. 4 *,;/6*/, P**/*

Y*, 5@ 5@

N

T: 100 100


52/58

Bancassurance

.FINDINGS

T%e increase in t%e re!enue for t%e sa#e of insurance o#icies ' 46" ank and t%e

increase in t%e retai# segment9s rofit and assets indicate t%at t%e financia# erformance of

t%e 46" ank in ancassurance %as een good and t%e ancassurance %as a#so

contriuted e## to t%e retai# segment.

T%us, it is ;uite c#ear t%at 46" Bank is e2ected to take sti## more initiati!es to imro!e

its e2isting erformance in ancassurance. To ana#'se t%e a's and means for it,

resonses are co##ected from t%e customers. It a#so indicates t%e necessit' of furt%er

initiati!es and t%e areas %ere t%e' need to focus and can cas% in on t%e situation for

etter rosects. 6o##oing are t%e ustifications from t%e rimar' data

T%oug% genera# oinion aout insurance is rett' good among t%e eo#e, most of t%e

resondents are uncertain aout insurance as an in!estment otion. $nd most of t%eresondents are aare of 46" standard #ife, aareness needs to e created aout t%e

fact t%at 46" ank is cross-se##ing 46" Standard 3ife :o#icies.

T%oug% t%e ot%er re#ations%i ui#ding factors are found satisfactor' among most of t%e

customers, em%asis is needed in t%e area of Eas' and ad!antageous anking o!er ot%er

anks since it is denied ' maorit' of t%e resondents. $s t%ese factors, esecia##' t%e

eas' and ad!antageous anking determines t%e mindset of t%e customer in considering

t%e ank as an integrated financia# so#utions, t%is re;uires immense attention ' 46"

ank.

Maorit' of t%e resondents are satisfied it% t%e customer ser!ices ro!ided ' 46"

ank t%at it is a ositi!e sign for ancassurance

5% ' P *


53/58


54/58

Bancassurance

1,. CONCLUSIONS

46" ank i## definite#' #a' a redominant ro#e in t%e ancassurance industr' andt%ere' can contriute more to t%e u#iftment of t%e ank t%e ancassurance erformance

of 46" ank and standard #ife %as een good and it a#so ro!ides a %e#ing %and to t%e

o!era## rogress of t%e ank. 46" Standard 3ife Insurance as gron a #ot t%roug% its

aggressi!e marketing strategies and t%e grot% rate as tremendous, t%roug% it is groing

faster it %as to ork on certain t%ings and maintain t%e standard. T%is can e done t%roug%

introducing more inno!ati!e roducts and recruiting good ;ua#it' ad!isors ecause t%e' are

t%e i##ars of t%e coman'.

T%e rosect for ancassurance is a#so rig%t as 46" ank is found to e a refera#e

distriution c%anne# among t%e customers %o is% to u' 46" standard #ife o#ic'.

0it% more initiati!es and focus in t%e secified areas t%e ank can e!en %a!e t%e

otentia##' of making more customers to u' 46" Standard 3ife o#ic' from 46"

ank.

T%e customer s%ou#d fee# t%at %ate!er coman' is gi!ing is somet%ing great, and no one

cou#d e!er imagine aout it. T%is fee#ing makes t%e customer fee# t%at coman' is !er'

muc% satisf'ing t%em. In addition, t%e e2tra feature gi!en to satisf'ing is somet%ing great.

It can a#so take t%e ad!antage of more customer ase and can ecome more cometiti!e.

T%us it% its increase in t%e e2isting erformance in t%e ucoming 'ears.

Bancassurance 0as considered as unsoug%t good %ic% re;uire %ard core se##ing, ut in

c%anging trend in income and eo#e ecoming financia##' #iterate, t%e demand forinsurance is increasing da' ' da'. So, it is t%e coman' t%at first aroac%es gets its s%are

of reard. :roer after sa#e ser!ice can %e# t%e ad!isors to generate more usiness.

Cradua##' eo#e are rea#iing t%e fact t%at insurance is not a necessar' e!i# ut means to

attain orr' free #ife.

5 ' P *


55/58

Bancassurance

11.BILIBOGRAPY

T%e fo##oing comanies and association9s e sites ere referred %i#e co##ecting

information used in t%e researc%.

INTERNET SOURCE

;QQ.64+/,2/*.?

;QQ.:*..+/

;QQ.+=+;*6+.

;QQ.?/* /:.?

;QQ.:++/6+.? ;QQ.64/=.?

;QQ.+6+/6+.

BOOSQMAGA!INES REFFERD

S26 G2+6*- P+/+;:*, & P+*, 4 L+4* I/,2/* B AIMA.

B=, P2:+,*6 B INSURANCE INSTITUTE OF INDIA.

INSURANCE$ATCH.

MONEYOUTLOO.

55 ' P *


56/58

Bancassurance

SURVEY UESTIONNAIRE

UESTIONNARIE FOR THE PURPOSE OF THE PROJECT ON HDFC

BAN IN BANCASSURANCE

N?*

A*

G*/6*

O2;+/

M+: ,2,

N 4 +:6*/

A//2: +/?*

A2/ :6* 4 H64 /=

T;* 4 2/

1. P*,/: +*, 2 +/,2/*

Insurance ro!ides rotection to 'ou and 'our fami#'

Insurance is an aso#ute necessit' for an indi!idua#7fami#'

Insurance is one of t%e est In!estment otions

%. L+4* +/,2/* ;:+ :6*

YES

>@

@. A*/*,, 2 H64 ,/66 :+4* +/,2/*

YES

>@

. S2* =/ 2 H64 :+4* +/,2/* 46" Bank

$d!ertisement

6riends & Re#ati!es

@t%ers

>7$

5. A* 4 +/+/ H64 ,/66 :+4* ;:+ 4? H64 /=

5 ' P *


57/58

Bancassurance YES

>@

. F?+:++ + * ;:++*, 44**6 H64 ,/66 :+4* +/,2/* 4ig%#' Satisfied

Satisfied

Moderate#' satisfied

issatisfied

4ig%#' dissatisfied

. I/+++*, =*/ H64 /= ;?* H64 ,/66 :+4* +/,2/* ;62,

is#a's regarding 46" Standard 3ife Insurance in 46" Bank

$d!ertisements7#inks etc., regarding 46" Standard 3ife Insurance in 46"Bank 0e Site

46" Bank Em#o'ees %a!e e2#ained 'ou aout t%e o#icies of 46" standard #ifeinsurance (t%roug% %one ca##s7direct contact)

. S+,4+/ 4 2,?* ,*+*,

4ig%#' Satisfied

Satisfied

Moderate#' satisfied

issatisfied

4ig%#' dissatisfied

. F, 2+:6 ,/ *:+/,+; + 2,?*,

Re#iai#it'

Eas' and ad!antageous anking o!er ot%er anks

0ide range of :roducts and Sc%emes

Better understanding @f customer needs and ro!ide e2ert ad!ice

10. H64 /= , /*-,; ,; 4 :: 4+//+: /**6,

Strong#' $gree

$gree

5 ' P *


58/58

Bancassurance >eutra#

isagree

Strong#' isagree

11. R*,/, 4 =+/ :+4* +/,2/* ;:+ +/ * /* 422*

:ost retirement income

In!est in c%i#d9s dreams

Ci!e :rotection and safet' to t%e fami#' in case of unfortunate occurrences

Ta2 Benefits

Better returns in terms of in!estment

1%. C,+/ H64 ,/66 :+4* +/,2/* =* ;:+ +/ 422*

YES

>@

Date post:	03-Jun-2018
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Final 100 Marks Project on Bancassurane

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