+ All Categories
Home > Documents > HDFC PPT

HDFC PPT

Date post: 29-Aug-2014
Category:
Upload: nidhi-dembla
View: 19 times
Download: 1 times
Share this document with a friend
Popular Tags:
25
EXECUTIVE SUMMARY During this project I fully realized this and come to know about the present real world of insurance. Since it include all the activities involved in selling insurance products directly to financial customers. I am pleased to know about the customers’ wants and various activities in the real world of insurance product. The Subject of my study is A STUDY OF HDFC SLIC. I have done this by applying various tools like Tele calling, and through direct interaction with customers.
Transcript
Page 1: HDFC PPT

EXECUTIVE SUMMARYDuring this project I fully realized this and come to know about the present real world of insurance. Since it include all the activities involved in selling insurance products directly to financial customers. I am pleased to know about the customers’ wants and various activities in the real world of insurance product.The Subject of my study is A STUDY OF HDFC SLIC. I have done this by applying various tools like Tele calling, and through direct interaction with customers.

 

Page 2: HDFC PPT

INTRODUCTION TO INSURANCE • ORIGIN OF LIFE INSURANCE • Life Assurance was born in England when the first policy providing

temporary cover for a period of 12 months was issued as easy as 1583 A.D. The Amicable Society started granting fluctuating sum on death since 1705 and a fix sum since 1757, with the development of mortality tables, the life Assurance acquired a scientific character. The Equitable Society founded in 1762 was the first Society established on scientific basis.

 • ORIGIN OF LIFE INSURANCE IN INDIA• In India, after failure of to British companies, the European and

the Albert in 1870, which attempted writing business on Indian lives, first Indian Life Assurance Society was formed in the same year called Bombay Mutual Assurance Society Limited. The Oriental Life Assurance Company Limited in 1874, Bharat in 1896 and Empire of India in 1897 followed it.

Page 3: HDFC PPT

INTRODUCTION TO THE COMPANY

 HDFC Standard Life Insurance Co. Ltd. is a joint venture between HDFC Ltd., India's largest housing finance institution and Standard Life Assurance Company, Europe's largest mutual life company.

Standard Life, UK was founded in 1825 and has experience of over 180 years. Companies. The company is rated as "very strong" by Standard & Poor's (AA) and "excellent" by Moody's (Aa2).

Page 4: HDFC PPT

HDFC WORK CULTURE

        HDFC Standard Life Insurance is known for its stimulating environment with high levels of motivation, empowerment and recognition.

They encourage an open and informal culture that values integrity, commitment, teamwork and excellence in customer service. They adopt a policy of strong learning and development initiatives, which promotes day-to-day learning as well as decision-making.

Page 5: HDFC PPT

HDFC CORE VALUES  • Integrity • Innovation • Customer centric • People Care• Teamwork “One for all and all for one” • Joy and Simplicity

Page 6: HDFC PPT

SWOT ANALYSIS OF HDFCSTRENGTH• Brand power.• Strong assets and infrastructure.• Market share of 22.5%. WEAKNESS• Awareness about private life insurance companies is very less.• Still not very popular in rural market.• Very few branches in the country.• Lack of operational activities.

Page 7: HDFC PPT

• OPPORTUNITY:• Liberalization of Indian economy.• Life Insurance sector opening up.• Very small percentage of population insured in India One of best products in the market.

• Global market opportunity. • THREAT:• Lack of proper technical knowledge among the mass.• Apprehension towards HDFC Prudential being a private life insurance company.

• LIC: very big player.• Change in government policy may affect the growth and expansion of the Insurance sector and the company

 

Page 8: HDFC PPT

 PRODUCTS OFFERED 

          HDFC Standard Life Insurance offers you a range of innovative life insurance plans. Through an appropriate combination of the basic plan and optional benefits, we can create the right insurance solution for you.

 

• DIFFERENT PLANS AND THEIR BENEFITS Benefits• Endowment Assurance              Life Insurance + Savings + upto 4  optional benefits• Money Back                                 Life Insurance + Savings + upto  4 optional benefits• Single Premium Whole Of Life  Investment + Life Insurance• Term assurance Life Insurance at an affordable  price + upto 2                                

    optional                                                         Benefits • Loan Cover Term Assurance      Life Insurance for loan cover protection + 1 optional                                                           benefit• Personal Pension Plan                  Savings + Retirement Planning 

Page 9: HDFC PPT

INTRODUCTION TO IRDA

THE INSURANCE REGULATORY AND DEVELOPMENTAUTHORITY Reforms in the Insurance sector were initiated with the passage of the 

IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2007 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies.

The other decision taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDA’s online service for issue and renewal of licenses to agents.

Page 10: HDFC PPT

NEED OF THE STUDYThe study of this nature is being conducted on the behalf of HDFC  STANDARD LIFE INSURANCE pvt. Ltd. A high level of competition entering the insurance sector companies need to catch up with the ever changing demands of the industry. 

The study is being conducted to get an edge over other life insurance houses in insurance industry. It is also done in order to know how much knowledge and the money the consumers contribute in the life insurance schemes.

The study will help to know the interest and preferences of the customers. This project report may help the company to make further planning and strategy. 

Page 11: HDFC PPT

OBJECTIVE OF THE STUDY • The objective of the study is to study the insurance policies and activities in HDFC SLC with special emphasis on products of the company.

        This project involved the study of: • Working of Insurance Plans• SWOT analysis of the product sold• Comparative study with the competitors• To know the perception and conception of customers towards Insurance products 

• To explore the potential areas for the insurance and providing best offers and constant promotion and placing strategy.

 

Page 12: HDFC PPT

LIMITATION • The geographical area was very much limited to residential area & 

so the results are not particularly reflection of the current behavior.• Biases and non-cooperation of the respondents.• Due to limited time period and constrained working hours for most 

of the respondents, the answers at times were vague enough to be ignored.

• Most of the people in India take their policies in the period preceding March(for tax saving purposes) & so the response to initial contacts were not all encouraging and that has been the primary reason in the inability to quantify the results large enough so as to deduce any relevant outcomes.

• People are not interested in giving personal opinion. 

Page 13: HDFC PPT

RESEARCH METHODOLOGYSources of data collection:• The data has been collected through filling up of the questionnaire from different 

company’s managers and financial consultants and interviewing them about their various options of investments.

• Primary data collected from these managers and financial consultants only. This is first hand data. This is gauged by personally conducting interviews, observation and by means of questionnaire.

 • Secondary data was collected from • Internet, • Company documents,• Newspaper and • Magazines. Sampling: • Random selection of people was made on whom survey was conducted. It was also 

collected through personal visits to persons, by formal and informal talks and through filing up the questionnaire prepared.

 

Page 14: HDFC PPT

Sample size:• The sample size of people is limited to 100 people only.

 Tools and techniques of analysis:•  Various tools have been used in this research:• Tables.• Pie charts.• Bar diagrams.Percentage method has been used to analyze the data.

Page 15: HDFC PPT

DATA ANALYSIS & INTERPRETATION

.Respondants having life insurance from HDFC Standard Life Insurance.

 

• Yes       11%• No        89% 

Page 16: HDFC PPT

Sources of information • Electronic media    35 % • Print media             40 %• Agents                      23 %• Friends                      2%

Page 17: HDFC PPT

.Whom do you consult while taking financial decision?

• Colleagues                                                20%• Family                                                        22%• Friends                                                       29%• Investment relationship manager         29%

Page 18: HDFC PPT

Govt. life insurance policies are much more secured than their private counterparts.

 Yes              92%No                8% 

Page 19: HDFC PPT

RECOMMENDATIONS • More emphasis should be on promotional activities.• Plenty of advertisement should be done through T.V, Newspaper 

and Radio as these media’s are having maximum recall value.• Total financial planning and advice should be given to every 

customer.• More business opportunity seminars should be conducted to make 

people aware of the offer given.• The company should quite frequently send their agent to the 

customer so that they should be aware of the latest offer.• The company should attempt to open more and more of its 

branches in the country so as to promote their product publicity.

Page 20: HDFC PPT

CONCLUSION

• LIC enjoys credibility over other private players in the industry• People look for security over returns in market  insurance plans • Lifetime is the most popular product among the people who 

are aware about HDFC SLC products.• People are now showing more interest in ULIP as compared to 

some of the traditional plans.•  HDFC SLC has to counter the distribution network of LIC• The product profile of HDFC SLC is not very comprehensive

Page 21: HDFC PPT

BIBLIOGRAPHY 

• http:// www.hdfcstandardlife insurance.com• http:// www.standardlife.com• http://www.hdfc.com• http://www.sebi.com• http://www.nse.com• “India Today (27th MAY’2010) • “The Times of India” (16thMAY’2010) • “Brunch”(16th July 2010)

Page 22: HDFC PPT

QUESTIONNAIRE• The questionnaire is designed to seek information for the execution of the above stated research project. I shall feel 

extremely grateful if you could kindly fill up the questionnaire at ease after thorough reading.  • Q1.Do you have a life insurance policy from HDFC Standard Life Insurance?

a) Yes      [  ]                    b)   No       [ ]

• Q2.If yes, which policy have you taken?•      Endowment policy                      Children Policy•  •      Money Bank Policy                    Team Assurance Policy•  •

     Pension Plan                               Singe Premium Plans • 3. How do you come to know about this policy? •      Electronic Media                     Agents•  •      Print Media                             Friend • 4. Do you go through all the details of the policy that you choose?

Yes No

Page 23: HDFC PPT

• 5. What according to you is the most important reason for getting insured? (Give rank 1 to 4: 1 for the lowest & 4 for the highest).

 

     Returns                Savings                       Tax Benefit                    Risk coverage     • 6. How much of your annual income would you like to invest in life insurance? •     Up to 2,500                                         2,500-5,000 •     5,000-20,000                                       20,000-above

• 7. What factors would you consider when thinking about the amount of life insurance? •    Benefits of the plan                                     Liquidity Positio •    Future needs                                                Monthly Income 

• 8. Are you satisfied with the incentives associated with your policy?• a) Highly satisfied  [ ].     • b) Satisfied   [ ]     • c) Moderate   [ ]      • d) Unsatisfied  [  ]  • e) Highly Unsatisfied   [  ]. 

Page 24: HDFC PPT
Page 25: HDFC PPT

Recommended