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FINAL PROJECT
Submitted To: Ms Ayesha Anwar
Submitted By: Sibtain Abbas (101481)
Ali Musyab Naqvi (131811)
Institute of Management Sciences
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Table of Contents
Background 5Mission Statement 6
Vision 6
Organizational Chart 7
Efu Group 8
System Related Information 9
Financial Statements 11
Condensed Interim Balance Sheet 11
Condensed Interim Profit and
Loss Account
13
Condensed Interim Statement of
Comprehensive Income
13
Condensed Interim Statement of
Changes in Equity
14
Condensed Interim Statement of
Cash Flows
14
Condensed Interim Statement of
Premiums
15
EFU Branches 16
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EFU House, 6D Jail Road Lahore
Ph.: 35715616-8
Website:http://www.efuinsurance.com/
E-mail:[email protected]
http://www.efuinsurance.com/http://www.efuinsurance.com/http://www.efuinsurance.com/mailto:[email protected]:[email protected]:[email protected]://www.efuinsurance.com/7/29/2019 Hierarchy EFU
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Background
In 1932, Mr. Ghulam Mohammad, a far sighted man, established Eastern Federal UnionInsurance Company (EFU) with financial assistance from the Aga Khan III and the Nawab of
Bhopal. Mr. Abdur Rehman Siddiqui became the founder chairman. The company was originallyregistered at Kolkata.
In 1947, EFU found a new home in a new country. In Pakistan, EFU rapidly established itself asa progressive and innovative insurer. It gave the emerging insurance industry the leadership, the
manpower and the drive needed to grow in a situation where at one time, three-fourths of
insurance was held by foreign companies.
By 1961, EFU had become the flag bearer of Pakistan's insurance industry on the world stage
and the largest life company in Afro-Asian countries (excluding Japan) under the leadership of
Mr. Roshen Ali Bhimjee.
It remained so until 1972 when Life Assurance business in Pakistan was nationalized. ThereafterEFU operated solely as a General Insurance Company, and was subsequently renamed EFU
General Insurance Limited. Now EFU General is the largest non-life insurance company in the
country and the mother company of other insurance organizations of EFU Group.
Traditionally the EFU name has become synonymous with progressiveness and prompts claim
settlement and now the EFU being the largest insurance group provides a full range of general,
life and health insurance services.
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Vision
Our Vision is to make EFU Life one of the most respected and successful financial services
organization in the world. Our strategy to achieve our vision is: build our core capabilities, serveour clients beyond their expectations, adhere to our core values and be a good corporate citizen.
To continue our journey to be better than the best.
Mission
To provide services beyond expectation with a will to go an extra mile. In the process, continue
to upgrade technology, human resource and reinsurance protection.
Values
Our philosophy is to be the leading company with service above par, with integrity, excellenceand professionalism. Following are our core values:
Integrity & Ethics
Conduct business with ethics, dignity, fairness and transparency.Excellence
We measure our performance by results but more by quality of service.
Professionalism
We believe professionalism is perfection. Business resources are utilized in a manner to achieve
optimum returns on resources.
Our people
In EFU we work like a family. Everyone is treated with respect and without any discrimination.
Corporate Social Responsibility
We donate to various institutions in health and education sectors, for improving the lifestyle ofcommon man.
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EFU GROUP
EFU General Insurance Limited
Rating AA Stable Outlook
Shaping the future of insurance in Pakistan
EFU Life Assurance Limited
ISO 9001 CertifiedPakistans largest private sector life assurance company
Allianz EFU Health Insurance Limited
Pioneer and LeaderPakistans only specialized health insurer
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System Related Information
ORACLE
Database Oracle 11g
Developer Oracle Corporation
Type Object Relational Database
Management System
(ORDBMS)
Front End Delphi
Source Code Assembly language, C, C++
Operating System Windows 32 bit, 64bit
Application Category Acquired System
DB/File Structure Oracle
Hardware Platform SODM
Supporting Resources Tuning Pack, Data Integrator
Real Application Cluster
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System Related Information (continued)
EFU General Insurance runs their Core Insurance Application on Oracle Exadata V2 which is
World's First Online Transaction Processing (OLTP) Database. The Oracle Exadata Machine V2
made by Sun and Oracle replaced Efu Legacy system.
This provides cost-effective storage management by automating processes, minimizing costly
I/O operations, compressing data and maximizing the utilization of tiered storage resources for
all your enterprise databases.
Deals with transactions made under different accounts head and modernize its IT systems and
serve as the underlying data and storage infrastructure for its new insurance application.
EFU replaced its obsolete/legacy system to respond better and faster to business challenges. WithOracle, EFU will be able to open more sales channels via the Web and facilitate integration with
other companies. As a result, more quality services can be offered to its customers via the Web
because of the more agile and reliable IT infrastructure. With the deployment of this database as
it provides better performance, reliable information and manageable IT infrastructure to EFU,
enabling them to deliver the highest quality of service at low cost and it will also lower their
operational cost due to centralized environment.
EFU previous Software
COBOL was the first and previous software used by EFU and it is one of the oldest
programming languages. Though it is not much efficient and fast as compared to ORACLE. As
the time passes and change in technology and to meet business challenges EFU replace their
software. But there is one drawback of ORACLE, internet disconnection causes in ORACLE to
stop their work.
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FINANCIAL STATEMENTS
Condensed Interim Balance Sheet as at 31 March 2013
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Condensed Interim Profit and Loss AccountFor the three months period ended 31 March 2013
Condensed Interim Statement of Comprehensive IncomeFor the three months period ended 31 March 2013
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Condensed Interim Statement of Changes in EquityFor the three months period ended 31 March 2013
Condensed Interim Statement of Cash FlowsFor the three months period ended 31 March 2013
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Condensed Interim Statement of PremiumsFor the three months period ended 31 March 2013 (Unaudited)
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EFU Offices in Pakistan
Karachi Lahore City Branch Islamabad
Head Office City Branch 2nd
Floor, Dodhy Building
EFU House 32, C-1 Ghalib Road 52-E Blue Area Jinnah Avenue
M.A Jinnah Road Ph: 37352934 Ph: 2604772-4
Ph: 32313471-90
Karachi Lahore Division Rawalpindi
City Branch Co-operative Building 23 2nd
Floor, Ferozsons Building
6th
Floor, Efu House Shahrah-e-Quaid-e-Azam Rawalpindi Cantt
M.A Jinnah Road Ph: 37312166 Ph: 55143235563065
Ph: 32201567-68
Karachi Clifton Branch EFU House, Ground Floor Multan
311 & 312 Clifton Centre 6-D Jail Road Lahore Rajput Commercial Centre
Ph: 35873151-3 Ph: 35790757 Ph: 478037245800901
Abbottabad D.G. Khan Faisalabad
116 Iqbal Shopping Street No.2 Block-Z Ahmed Plaza Bilal Road
Complex Mall Road Model Town Faisalabad
Ph: 23333 Ph: 0642-469360 Ph: 2610363
Vehari Bahawalpur Chichawatni
56-B, Grain Market Circular Road 44 Railway Road
Ph: 06733-62900 Ph: 2884624 Ph: 040-5486848
Chishtian Layyah Rahim Yar Khan
105-E Opposite Bank of Punjab 7-Shaheen Market
Chishtian Chowbara Road Shahi Road
Ph: 0632-503989 Layyah Ph: 5873794
Gujranwala Hyderabad Mardan
3rd
Floor .Din Plaza Al-Falah Chambers Dr. Zawar Hussain Building
G.T. Road Jinnah Road 337-B The Mall Mardan
Gujranwala Ph: 2611397 Ph: 0937-862294
Ph: 845883-84
Sahiwal Quetta Peshawar
1st
Floor, Sattar Complex 42-Reagal Plaza 7-10, Upper Ground Floor
Stadium Road Circular Road Azam Tower
Sahiwal Quetta Jamrud Road Peshawar
Ph: 4220522 Ph: 2822926 Ph: 5846120
Sargodah Sialkot Sukkur
1st
Floor, Improvement 1st
Floor, Riaz Plaza 9, Glammour Centre
Trust Plaza 26, Fatima Paris Road 1st
Floor Mission Road
Jinnah Road Sialkot Sukkur
Sargodah Ph:4267001-3 P.O. Box No. 179
Ph: 3721381 Fax:052-4267583 Ph: 5823936
Fax: 3721586 Fax:5626512
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Some Questions about EFU?
1) What is the background of EFU?2) What is the vision of your company?3) What is the mission statement of EFU?4) What is the Accounting system of EFU?5) What software is used by EFU?6) What is your previous software?7) What is the Hardware platform and OS of ORACLE?8) Any Drawback of ORACLE?9) What are the financial statements of EFU?10) Tell us about EFU groups and their ratings?