project+report hdfc

TABLE OF CONTENTS

CHAPTER-1

INTRODUCTION................................................................................................................................................. 4

INDUSTRY PROFILE.......................................................................................................................................... 4

CHAPTER-2

COMPANY PROFILE.......................................................................................................................................... 9

MISSION & VISION.......................................................................................................................................... 14

Awards and Accolades.................................................................................................................................. 16

PRODUCTS OFFERED:.................................................................................................................................... 18

PRODUCT PORTFOLIO:................................................................................................................................. 21

ORGANISATIONAL HIERARCHY................................................................................................................. 42

COMPETITORS BY COMPANY:.................................................................................................................... 46

SWOT ANALYSIS.............................................................................................................................................. 49

STRENGTH.................................................................................................................................................................................................................. 49

OPPORTUNITIES...................................................................................................................................................................................................... 50

THREATS...................................................................................................................................................................................................................... 51

CHAPTER-3

EXECUTIVE SUMMARY:................................................................................................................................. 54

SCOPE OF THE STUDY................................................................................................................................... 54

STATEMENT OF THE PROBLEM................................................................................................................. 58

OBJECTIVE OF STUDY.................................................................................................................................... 58

RESEARCH METHODOLOGY........................................................................................................................ 59

Recruitment of Financial Consultant In HDFCSLIC

CHAPTER-4

DATA ANALYSIS, INTERPRETATION AND PRESENTATION..............................................................63

FINDINGS:.......................................................................................................................................................... 81

CONCLUSION:................................................................................................................................................... 82

RECOMMENDATIONS.................................................................................................................................... 83

QUESTIONNAIRE............................................................................................................................................. 84

Abbreviations.................................................................................................................................................. 86

BIBLIOGRAPHY.......................................................................................................................................... 86

M.S. RAMAIAH INSTITUTE OF MANAGEMENT 2 | P a g e


CHAPTER-1

GENERAL INTRODUCTION



INTRODUCTION

The business of insurance is related to the protection of the economic values of assets. Every asset has a

value. The asset would have been created through the efforts of the owner. The asset is valuable to the owner, because

he expects to get some benefits from it. It is a benefit because it meets some of his needs. The benefit may be an

income or in some other form. In the case of a factory or a cow, the product generated by it is sold and income is

generated. In the case of a motor car, it provides comfort and convenience in transportation. There is no direct

income. Both are assets and provide benefits.

Every asset is expected to last for a certain period of time during which it will provide the benefits. After that, the

benefit may not be available. There is a life time for a machine in a factory or a cow or a motor car .None of them will

last forever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a

substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier.

An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. An epidemic

may kill the cow suddenly. In that case, the owner and those enjoying the benefits there from would be deprived of

the benefits. The planned substitute would not have been ready. There is an adverse or unpleasant situation.

Insurance is a mechanism that helps to reduce the effects of such adverse situations. It promises to pay to the owner

or beneficiary of the asset, a certain sum if the loss occurs.

INDUSTRY PROFILE

LIFE INSURANCE

Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the

happening of the event insured against.



The contract is valid for payment of the insured amount during:

The date of maturity, or

Specified dates at periodic intervals, or

Unfortunate death, if it occurs earlier

Among other things, the contract also provides for the payment of premium periodically to the Corporation by the

policyholder. Life insurance is universally acknowledged to be an institution, which eliminates 'risk', substituting

certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death

By and large; life insurance is civilization’s partial solution to the problems caused by death. Life insurance, in short, is

concerned with two hazards that stand across the life-path of every person.

1. That of dying prematurely leaves a dependent family to fend for itself.

2. That of living till old age without visible means of support.

HISTORY OF INSURANCE

Insurance has been known to exist in some form or other since 3000BC. The Chinese traders, traveling treacherous

river rapids would distribute their goods among several vessels, so that loss from any one vessel being lost would be

partial and shared and not total. The Babylonian traders would agree to pay additional sums to lenders, as the price

for writing off the loans, in case of the shipment being stolen. The inhabitants of Rhodes adopted the principle of

‘general average’, whereby, if goods are shipped together, the owners would bear the losses in proportion, if loss

occurs, due to jettisoning during distress. (Captains of ships caught in storms, would throw away some of the cargo to

reduce the weight and restore balance. Such throwing away is called jettisoning).The Greeks had started benevolent

societies in the late 7th century AD, to take care of the funeral and families of members who died. The friendly societies

of England were similarly constituted. The Great Fire of London in1666, in which more than 13000 houses were lost,

gave a boost to insurance and the first fire insurance company, called the Fire office, was started in1680.

The origins of insurance business as in vogue at present, is traced to the Lloyd’s Coffee House in London. Traders, who

used to gather in the Lloyd’s coffee house in London, agreed to share the losses to their goods while being carried by

ships. The losses used to occur because of pirates who robbed on the high seas or because of bad weather spoiling the

goods or sinking the ship. In India, insurance began in 1818 with life insurance being transacted by an English



company the Oriental Life Insurance Company Limited. The first Indian company was the Bombay Mutual Assurance

Society Ltd. formed in 1870 in Mumbai. This was followed by the Bharat Insurance Co. in 1896 in Delhi, the Empire of

India in1897 in Mumbai, the United India in Chennai, the National, the national Indian and the Hindustan Cooperative

in Kolkata.

Later, were established the cooperative assurance in Lahore, the Bombay life (originally called the Swadeshi Life), the

Indian Mercantile, the New India the Jupiter in Mumbai and the Lakshmi in New Delhi. These were all Indian

companies started as a result of the swadeshi movement in the early 1900s.By the year 1956, when the life insurance

business was nationalized and the Life Insurance Corporation of India (LIC) was formed on 1st September 1956, there

were 170 companies and 75 provident fund societies transacting life insurance business in India .After the

amendments to the relevant laws in 1999, the LIC did not have the exclusive privilege of doing life insurance business

in India. Now, nineteen new life insures had been registered and were transacting life insurance business in India.

INDIAN INSURANCE INDUSTRY:

Insurers

Insurance industry, as on 1.4.2000, comprised mainly two players: the state insurers:

Life Insurers:

Life Insurance Corporation of India (LIC)

General Insurers:

General Insurance Corporation of India (GIC)

GIC had four subsidiary companies, namely (with effect from Dec'2000, these subsidiaries have been de-linked from

the parent company and made as independent insurance companies.

1. The Oriental Insurance Company Limited

2. The New India Assurance Company Limited,

3. National Insurance Company Limited

4. United India Insurance Company Limited .


http://www.uiic.co.in/

http://www.nationalinsuranceindia.com/

http://www.irdaindia.org/www.newindia.co.in

http://www.orientalinsurance.nic.in/

http://www.gicoi.com/

http://www.licindia.com/


CONTRIBUTION OF LIFE INSURANCE SECTOR IN THE INDIAN ECONOMY

(i) Life Insurance is the only sector which garners long term savings.

(ii) Spread of financial services in rural areas and amongst socially less privileged.

(iii) Long term funds for infrastructure.

(iv) Strong positive correlation between development of capital markets and insurance/pension sector.

CHARACTERISTICS OF INSURANCE

Sharing of risk

Co-operative device

Evaluation of risk

Payment of happening of a special event

The amount of payment depends on the nature of loss incurred



CHAPTER-2

PROFILE OF THE

ORGANISATION



COMPANY PROFILE

Development HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies,

which offers a range of individual and group insurance solutions. It is a joint venture between Housing Finance

Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard

Life, UK. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture.

HDFC STANDARD LIFE

Founded on 14th August 2000

Received a license on 23rd October 2000

First private insurance company to get a license from the IRDA

Declared 7th consecutive bonus

Branches

Zonal office 9

Regional Offices 29

Branch office and Spoke Locations 569



HDFC GROUP COMPANIES


SECURITISATION

Future Activities

DISTRIBUTION


STANDARD LIFE

The Standard Life Assurance Company ("Standard Life") was established in 1825 and the first Standard Life

Assurance Company Act was passed by Parliament in 1832. Standard Life was reincorporated as a mutual assurance

company in 1925.

The Standard Life group originally operated only through branches or agencies of the mutual company in the United

Kingdom and certain other countries.

Its Canadian branch was founded in 1833 and its Irish operations in 1838. This largely remained the structure of the

group until 1996, when it opened a branch in Frankfurt, Germany with the aim of exporting its UK life assurance and

pensions operating model to capitalize on the opportunities presented by EC Directive 92/96/EEC (the “Third Life

Directive”) and offer a product range in that market with features which local providers were unable to offer.

BANKING, HEALTHCARE & INVESTMENTS –

The group set up Standard Life Bank, its UK mortgage and retail savings banking subsidiary, in 1998 and Standard

Life Investments, which had previously been the in-house investment management unit of the group’s life assurance

and pensions business, was separated into a distinct legal entity in the same year, with the aim of establishing it as an

independent investment management business providing services to both the group and third party retail and

institutional clients. The group acquired Prime Health Limited (subsequently renamed Standard Life Healthcare) in

the United Kingdom in 2000. Standard Life Healthcare expanded in March 2006 with the acquisition of the PMI

business of First Assist.

STANDARD LIFE ASIA LIMITED/JOINT VENTURES –

The group’s Hong Kong subsidiary, Standard Life Asia Limited (“SL Asia”), was incorporated in 1999 as a joint venture

and became a wholly-owned subsidiary of Standard Life in 2002. The group’s operations in Hong Kong were

established to give the group a presence in the Far East from which it could expand into China. The group’s joint

ventures in India with Housing Development Finance Corporation Limited (“HDFC”) were incorporated in 2000

(in relation to the life assurance and pension’s joint venture) and 2003 (in relation to the investment management

joint venture). The group’s joint venture in China with Tianjin Economic Development Area General Company

(“TEDA”) became operational in 2003.



STANDARD LIFE INTERNATIONAL LIMITED –

The group also incorporated Standard Life International Limited (“SLIL”) in 2005 for the purposes of providing the

group with an offshore vehicle, based in Ireland, through which it could sell tax-efficient investment products into the

United Kingdom. Sales of these products commenced in 2006.

SERVICE COMPANY –

Following the group’s strategic review in 2004, the group established a service company structure for the provision of

central corporate services to the group’s business units. Standard Life Employee Services Limited (“SLESL”) supplies a

wide range of central services to the rest of the group, including IT, facilities, legal and human resources services, and

employs staff working in the group’s UK and Irish operations (other than SLI, SLB and SLH, which employ their staff

directly). This service company structure was created to enable Standard Life to comply with regulatory restrictions

on the provision of non-insurance services and to exploit group-wide synergies.

SNAPSHOT-I

Founded in 1825

Providing a range of savings, pension, protection and investment products

Standard Life listed on 10 July 2006, the biggest float on the London Stock Exchange in the last five years.



SNAPSHOT-II

Head Office Edinburgh, Scotland (UK)

United Kingdom 31 Branches

Canada 11 Branches

Ireland 7 Branches

Germany 1 Branches

Austria 1 Sales Office

Hong Kong 1 Representative Office

KEY STRENGTHS

Financial Expertise

As a joint venture of leading financial services groups, HDFC Standard Life has the financial expertise required to

manage your long-term investments safely and efficiently.



Range of Solutions

A range of individual and group solutions, which can be easily customized to specific needs. HDFCSLIC group

solutions have been designed to offer us complete flexibility combined with a low charging structure.

Track Record so far

Gross premium income, for the year ending March 31, 2008 stood at Rs.4, 859 cores and new business premium

income stood at Rs.2, 685 cores. The company has covered over 9, 59,000 lives year ending March 31, 2008.

MISSION & VISION

MISSION

WHAT WE DO;

our mission is to build valuable customer relationships by helping customers grow and protect their assets.

VISION

WHAT WE ASPIRE TO ACHIEVE;

our vision is to help our customers around the world feel confident about their future wealth and wellbeing.

OVERALL CORPORATE PURPOSE



WHY WE EXIST;

our corporate purpose is to generate sustainable, high-quality returns for our shareholders.

(Delivery, Efficiency and Opportunity driving shareholder value)

Strategy

HOW WE WILL DELIVER OUR MISSION AND VISION;

Our strategy is to build valuable customer relationships with leading service and compelling propositions through:

creating capital efficient, innovative products

opening new routes to markets

leveraging investment management expertise and performance

driving for operational excellence

Values

Values that we observe while we work:



Integrity

Innovation

Customer centricity

People Care “One for all and all for one”

Team work

Joy and Simplicity

AWARDS AND ACCOLADES

HDFC won the award for “Investment Management in India ’’ at the Euromoney 2006 Real Estate Awards

“Best Home loan Provider ’’ title at the Zee Pinnacle Awards 2006

Limca Book of Records,2006:HDFC for the landmark achievement of One Lakh Core

“Best strategy ’’, at the 4Ps Business – product , price , promotion , place of distribution, Marketing &

Advertising Power Awards 2006

Sept, 2008, Received 2008 CIO Bold 100 CIO Security award.

May,2008 Received PCQuest Best IT Implementation Award 2008

March,2008 Silver Abby at Goafest 2008 and Unit Linked Savings Plan Tops Mint Best TV Ads Survey

February, 2008 Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007

Rated as the "Best New Insurer - 2003" by Outlook Money magazine, India’s number 1 personal finance

magazine.

Rated by 'Business world' as 'India's Most Respected Private Life Insurance Company' in 2004.

Received CIO 'the Ingenious 100 2009' Award

HDFC Standard Life has received the CIO ‘The Ingenious 100 - 2009 Award,’ for ATLAS (Agency Training Licensing

and Servicing System). Additionally, the company has received the CIO 100 ‘Security Award 2009’ for pioneering



LANDesk Management and Security Suite security implementation and taking its security to a higher level of

technological excellence.

Received Diamond EDGE Award 2009

HDFC Standard Life has received the Diamond EDGE Award 2009 for its mobile workforce portal - Consultant Corner.

EDGE - Enterprises Driving Growth and Excellence (using IT) is an initiative by the ,Network Computing magazine to

identify, recognize, and honor end-user companies in India that have demonstrated the best use of technology to solve

a business problem, improve business competitiveness, and deliver quantifiable ROI to stakeholders.

Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year.

Awarded The Economic Times Corporate Citizen of the year Award for its long-standing commitment to

community development.

Presented the ‘Dream Home’ award for the best housing finance provider in 2004 at the third Annual Outlook Money

Awards

PRODUCTS OFFERED:



HDFC Standard Life offers a bouquet of insurance solutions to meet every need. The company caters to both,

individuals as well as to companies looking to provide benefits to their employees. For individuals, the company has a

range of protection, investment, pension and savings plans that assist and nurture dreams apart from providing

protection. The customers can choose from a range of products to suit their life-stage and needs. For organizations,

they have a host of customized solutions that range from Group Term Insurance, Gratuity, Leave Encashment and

Superannuation Products. These affordable plans apart from providing long term value to the employees help in

enhancing goodwill of the company.

The products of the company are categorized into various sections which are as follows:

A. INDIVIDUAL PRODUCTS

B. GROUP PRODUCTS

C. RURAL PRODUCTS

D. SOCIAL PRODUCTS

E. TAX BENEFITS

For Individuals, HDFC Standard Life has a range of protection, investment, pension and savings plans that assist and

nurture dreams apart from providing protection. Customer can choose from a range of products to suit his life-stage

and needs.

For Organizations, HDFC Standard Life has a host of customized solutions that range from Group Term Insurance,

Gratuity, Leave Encashment and Superannuation Products. These affordable plans apart from providing long term

value to the employees help in enhancing goodwill of the company.



Individual Products:

1. HDFC Children's Plan,

2. HDFC Endowment Assurance Plan,

3. HDFC Loan Cover Term Assurance Plan,

4. HDFC Money Back Plan,

5. HDFC Personal Pension Plan,

6. HDFC Single Premium Whole Of Life Plan,

7. HDFC Term Assurance Plan,

8. HDFC Unit Linked Endowment,

9. HDFC Unit Linked Endowment Plus,

10. HDFC Unit Linked Pension,

11. HDFC Unit Linked Pension Plus,

12. HDFC Unit Linked Young Star,

13. HDFC Unit Linked Young Star Plus

At HDFC Standard Life realize that not everyone has the same kind of needs. Keeping this in mind, varied range of

products that customer can choose from to suit all needs. These will help secure customer future as well as the future

of family.

Protection Plans:

Customer can protect his family against the loss of his income or the burden of a loan in the event of his unfortunate

demise, disability or sickness. These plans offer valuable peace of mind at a small price.

HDFC Standard Life Protection range includes Term Assurance Plan & Loan Cover Term Assurance Plan.

Investment Plans:

HDFC Standard Life Single Premium Whole of Life plan is well suited to meet long term investment needs. HDFC

Standard Life provides with attractive long term returns through regular bonuses.

Pension Plans:



HDFC Standard Life Pension Plans help secure financial independence even after retirement. Pension range includes

Personal Pension Plan, Unit Linked Pension, and Unit Linked Pension plus Savings Plans.

Savings Plans:

HDFC Standard Life Savings Plans offer flexible options to build savings for future needs such as buying a dream home

or fulfilling children’s immediate and future needs.

Group Products:

1. Group Term Insurance,

2. Group Variable Term Insurance,

3. Group Unit Linked Plan,

4. Gratuity Group Unit Linked Plan,

5. Superannuation Group Unit Linked Plan ,

6. Leave Encashment



PRODUCT PORTFOLIO:

HDFC offers products as per the life stages of the customers and their respective needs.

The insurance need will change as your life does, from starting to work to enjoying your golden years and all the

stages in between. Each one of these stages may pose a different insurance need/cover for you. In this section, we

have drawn up the basic life stages and help you analyze various insurance needs accordingly.



LIFE STAGES & NEEDS IN THOSE STAGES:

STAGE 1: YOUNG & SINGLE

An important stage where one lay down the foundation of a successful life ahead. Take advantage of the time and

power of compounding to ensure that you build up your dreams and start saving early.

NEEDS:

Save for Home & Wedding

Tax Planning

Save for Golden Years

STAGE 2: JUST MARRIED

Marriage brings about a significant change. New dreams and new opportunities also bring in additional

responsibilities. While both of you look forward to a happy and secure life, it is equally important to ensure that

eventualities don’t come in the way of shaping your dreams.

NEEDS:

Planning for home / securing your home loan liability.

Save for vacation.

Save for your first child.



STAGE 3: PROUD PARENTS

Once you have children, your need for life insurance is even more. You need to protect your family from an untoward

incident. Ensure your protection umbrella takes into account the future cost of securing your child’s dream. You will

want life to go on for your loved ones, and having enough life insurance is a way to help ensure that.

NEEDS:

Provide for children's education

Safeguarding family against loan liabilities

Savings for post-retirement

STAGE 4: PLANNING FOR RETIREMENT

While you are busy climbing the ladder of success today, it is important for you to take time and plan for your life

after retirement. Having an early start for retirement planning can make a significant difference to your savings.

Think about your golden years even before you have reached them. The key is to think ahead and plan well using your

time and money.

NEEDS:

Provide for regular income post retirement

Immediate Tax benefits



I. ADVERTISEMENT AND SALES PROMOTION


Film opens in the compound of a house. Father is checking

something inside the bonnet of an old small car. His daughter,

around 27-28 years old, is working on a lap top next to him

Daughter: “Dad”. Father: “Bolo”Daughter: “Nayi car lene mein hee

bhalaai hai.”Dad nods in agreement without

looking up. Dad: “Hmmm…”

Daughter continues affirmatively as she signs on a cheque.

Daughter: “Aur wo bhi badi wali.”

Dad looks at her and asks.Dad: “Huh, Badi kyon?”

Daughter, walks towards him with swinging hand in air and says.

Daughter: “Kyonki Toolika Sharma chahti hai uske dad style se travel

kare.”

Dad goes back to checking the engine and says in a light hearted

tone.Dad: “Aur Extra paise dad dega

kya?”Daughter replies firmly: “Nahi.

Mere dad ki beti.”



Daughter: “Relax dad, plan kiya.”Dad doesn’t know what to say:

“Par...”

And hands him the cheque. Dad looks at the cheque and

questions.Dad (seriously): “Itne paise aaye

kahaan se?”

Dad doesn’t know what to say as he looks at the cheque.

Daughter pleads: “Please…dad”

Mother enters with tea. She senses something serious and

questions them.Mother: “Aree Kya hua?”

Father looks at her and says emotionally.

Dad: “Car badi ho gayi, aur beti bhi.”

Super: Unit Linked Savings PlansMVO: “Unit Linked Savings Plans

from HDFC Standard Life. zimmedari nibhao, Aaj bhi kal bhi ”


The HDFC STANDARD LIFE generated Total Premium Income of Rs. 5564.69 cores in FY2009-10 registering a year-

on-year growth of 15%. The growth was primarily driven by the company’s structured sales processes based on

customer needs and their assessments, wide range of product portfolio and diverse distribution network. “The

financial year 2009-10 was a defining year with the unfolding of several unexpected events - sharp correction in

financial markets and a spread of recessionary trends. These events also had an impact on the Indian life insurance

industry. HDFC’s new policies issued grew by 16% over the last year. However, given the uncertainty in the overall

scenario, customers have reduced their annual premium commitment on new policies. At the same time, existing

policies continued to be in force reflected in our renewal premium, which posted a healthy growth of 34%.”

PARTICULARS MAR 2010 MAR 2009 MAR 2008 MAR 2007 MAR 2006

Net Sales

Growth (%)

39.95 36.97 25.43 10.81 0

Net Sales 81763.46 58425.12 42655.38 34006.04 30689.30

Analysis: The sales of HDFC standard life is increasing year by year due to the company’s structured sales

processes based on customer needs and their assessments, wide range of product portfolio and diverse distribution

network.


years

2004

2005

2006

2007

2008

2009

2010

2011

81763.46 58425.12 42655.38 34006.04 30689.30

Years


FACTORS THAT MAKE HDFC SLIC DIFFERENT:

Being the first private player to be registered with the IRDA and the first to issue a policy on December 12, 2000, our

differentiators are:

Strong Promoter:

HDFC Standard Life is a strong, financially secure business supported by two strong and secure promoters – HDFC Ltd

and Standard Life. HDFC Ltd’s excellent brand strength emerges from its unrelenting focus on corporate governance,

high standards of ethics and clarity of vision. Standard Life is a strong, financially secure business and a market leader

in the UK Life & Pensions sector.

Preferred and Trusted Brand:

The brand has managed to set a new standard in the Indian life insurance communication space. They were the first

private life insurer to break the ice using the idea of self-respect instead of ‘death’ to convey our brand proposition

(Sar Utha Ke Jiyo).., our brand thought, Sar Utha Ke Jiyo, is the most recalled campaign in its category.

Investment Philosophy

HDFC SLIC follows a conservative investment management philosophy to ensure that the customer’s money is looked

after well. The investment policies and actions are regularly monitored by a formal Investment Committee comprising

non-executive directors and the Principal Officer & Executive Director. As a life insurance company, they understand

that customers have invested their savings with them for the long term, with specific objectives in mind. Thus, their

investment focus is based on the primary objective of protecting and generating good, consistent, and stable

investment returns to match the investor’s long-term objective and return expectations, irrespective of the market

condition.

Focus on Training:

Training is an integral part of our business strategy. Almost all employees have undergone training to enhance their

technical skills or the softer behavioral skills to be able to deliver the service standards that our company has set for

itself. Besides the mandatory training that Financial Consultants have to undergo prior to being licensed, they have



developed and implemented various training modules covering various aspects including product knowledge, selling

skills, objection handling skills and so on.

Focus on Long-Term Value:

HDFC Standard Life does not focus in the business of ramping up the top line only, but to create maximization of stake

holder’s value. Today, they are extremely satisfied with the base that they have created for the long-term success of

this company.

Transparent Dealing:

HDFC SLIC are one of the few companies whose product details, pricing; clauses are clearly communicated to help

customers take the right decision.

Strict Compliance with Regulations:

HDFC SLIC have initiated and implemented many new processes, some of which were found useful by the IRDA and

later made mandatory for the entire industry. The agents who successfully completed this training only, were

authorized by the company to sell ULIPs. This has now been made compulsory by IRDA for all insurance companies

under the new Unit Linked Guidelines.

REVIEW OF LITERATURE:

Insurance is a form of risk-management which spreads risk of many people in exchange for small payments from

each. Specifically, insurance transfers some type of risk (accident, theft, natural disaster, illness, etc) from one person

or group to a more financially-sound entity in exchange for a payment (also known as premium). Premiums are often

annual or monthly, but depending on the type of insurance they can be at other intervals.

India insurance is a booming industry, with several national and international players competing to excel. With

several reforms and policy regulations, the Indian insurance sector has witnessed tremendous growth in the recent

past.



Insurance in India has its history dating back till 1818 started by Anita Bhavsar, when Oriental Life Insurance

Company was started by Europeans in Kolkata to cater to the needs of European community. Pre-independent era in

India saw discrimination among the life of foreigners and Indians with higher premiums being charged for the latter.

It was only in the year 1870, Bombay Mutual Life Assurance Society, the first Indian insurance company covered

Indian lives at normal rates. The Oriental Assurance Company was established in 1880.

The General insurance business in India, on the other hand, can trace its roots to Triton Insurance Company Limited,

the first general insurance company established in the year 1850 in Calcutta by the British. Till the end of the

nineteenth century insurance business was almost entirely in the hands of overseas companies.

Insurance regulation formally began in India with the passing of the Life Insurance Companies Act of 1912 and the

Provident Fund Act of 1912. Several frauds during the 1920's and 1930's violated insurance business in India. By

1938 there were 176 insurance companies. The first comprehensive legislation was introduced with the Insurance

Act of 1938 that provided strict State Control over the insurance business. The insurance business grew at a faster

pace after independence. Indian companies strengthened their hold on this business but despite the growth that was

witnessed, insurance remained an urban phenomenon.

The Government of India in 1956, brought together over 240 private life insurers and provident societies under one

nationalized monopoly corporation and Life Insurance Corporation (LIC) was born.

Nationalization was justified on the grounds that it would create the much needed funds for rapid industrialization.

This was in conformity with the Government's chosen path of State led planning and development. The non-life

insurance business continued to thrive with the private sector till 1972. Their operations were restricted to organized

trade and industry in large cities. The general insurance industry was nationalized in 1972. With this, nearly 107

insurers were amalgamated and grouped into four companies- National Insurance Company, New India Assurance

Company, Oriental Insurance.

CURRENT SCENARIO OF INDIA INSURANCE INDUSTRY:

India is the fifth largest life insurance market in the emerging insurance economies globally. The market size of Indian

insurance sector went up to US $47.89 billion in 2007, from US $21.71 billion in 2000, increasing at the rate of 120

percent.

Between 2000 and 2007, overall premiums sustained an average growth rate of 11.96 per cent.



This was one of most steady growth pattern witnessed amongst emerging economies in Asian as well as global

markets. Increasing from just one company a decade ago, there are 22 life insurance companies in the country. With

increasing competitiveness amongst these, the players are bringing out newer products to attract more customers

into their pool. Foreign direct investment (FDI) up to 26 per cent is permitted under the automatic route subject to

obtain a license from the official regulator, Insurance Regulatory and Development Authority (IRDA).

As major portion of the business come from urban market, the next step for these firms would be to tap semi-urban

and rural markets.

PRESENTLY THE TOP 10 LIFE INSURANCE COMPANIES ARE AS FOLLOWS:

Insurance Companies Market share

LIC 64%

ICICI Prudential Life Insurance 8.93%

Bajaj Allianz Life Insurance Co. 7.36%

SBI Life Insurance Co Ltd. 6.44%

Reliance Life Insurance Co Ltd. 2.96%

HDFC SLIC Ltd. 2.88%

Birla Sun Life Insurance Co Ltd. 2.11%

Max New York Life insurance Co Ltd. 1.91%

Kotak Mahindra Old Mutual Life Insurance Ltd. 1.19%

Aviva Life Insurance Company India Ltd. 1.05%



TOP 5 PLAYERS OF INDIA:

Life Insurance Corporation of India:

Life Insurance Corporation (LIC) came into existence on 1st September 1956 through the amalgamation of 154 Indian

insurance companies, 16 non-Indian companies and 75 provident. The amalgamation was achieved with the help of

Life Insurance Act passed by the Parliament in the same year. The LIC was created with the goal of reaching all the

insurable people in the country and providing them financial coverage at a reasonable price. In the year 1956, LIC had

5 zonal offices, 33 divisional offices and 212 branch offices. With time there was a need for a branch office at every

district headquarter and many branches were opened, which raised the pace of the organization.

LIC now has 2048 fully computerized branch offices, 100 divisional offices, 7 zonal offices and the corporate office. At

present, online premium collection facility is being offered in selected cities as LIC has tied up with some banks and

service providers. For providing customer satisfaction the organization has introduced various schemes such as ECS,

ATM premium payment facility, IVRS, Info centers which are set up in various cities including Mumbai, Bangalore,

Chennai, Kolkata, New Delhi, Pune and many more. It has also come up with SATELLITE SAMPARK offices providing

easy access to policyholders. LIC has crossed many milestones and set standards for itself fostering unmatched

performance.

Objectives

Holding the money with obligation and using it in the best possible manner in the interests of the

policyholder and the community.

Bringing attractive savings plans and making them easily accessible to the policyholders.

Giving attractive returns to the people and keeping in mind national priorities.

Being trustworthy to the customers and develop the spirit of corporate social responsibility.

Spreading insurance in both rural and urban areas and covering all the insurable persons at a reasonable

cost.

Bringing in plans and policies favorable to the changing environment.

Providing efficient service and involving people in the organization for their satisfaction.

BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LIMITED:

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto Limited and Allianz AG of Germany.

Bajaj Allianz General Insurance came into existence on 2nd May 2001, when it got certification of Registration from the Insurance and Regulatory Development Authority. Bajaj Auto has a share of 74%, whereas Allianz has the



remaining 26%. In the very first year, the company made a strong position for itself in the industry and was reckoned amongst the top private insurers. The premium income of the company as on 31st March 2006 was Rs. 1285 cores, whereas the profit after tax made was Rs. 52 cores. Bajaj Allianz has a Pan India network covering over 100 towns from Jammu to Thiruvananthapuram and aims to spread its operations in many other cities.

The vision of the organization is to be the first choice for customers, and provide job satisfaction to the employees and create shareholder value. The organization strives to excel in its products and services, providing total customer satisfaction.

Bajaj Allianz serves customers in all areas of General and Health Insurance as well as Risk Management. It has in-depth knowledge of the local market and extensive distribution network with expertise, stability and experience. It has a capital base of Rs. 147 cores, and is allowed to serve both the General and Health insurance.

It has achieved iAAA rating, by ICRA Limited and has the highest claims- paying ability and a stable position in the market. In a 2006 survey, Business World has rated it among the Most Respected Companies, putting it at No.2 position in Insurance sector.

The Company provides the following products under general insurance:

Travel Insurance

Asset Insurance

Health Insurance

Corporate Insurance

ICICI Prudential Life Insurance Company: ICICI Prudential is a joint venture between ICICI bank and Prudential plc, both having strong operations in their

respective countries. ICICI bank is one of the leading banks in India providing quality financial services and Prudential

is an international financial service provider headquartered at United Kingdom. ICICI and Prudential have respective

shares of 74% and 26%. The Company started operating in December 2000. Currently, total capital with the company

is Rs. 18.15 billion.

ICICI Prudential was the first insurance company in India to receive a National Insurer Financial Strength rating of

AAA (Ind.) from Fitch ratings. It has been given the honor of being among the Most Trusted Brands in the industry by

Economic Times for 3 consecutive years. It has a network of 450 branches, over 1, 50,000 insurance advisors and 18

banc assurance partners.

As the organization grows and develops, it keeps introducing new range of products and services and enhancing the

quality of plans and solutions given to the customers. The distribution network is one of the best, and is spreading

across the length and breadth of the country. As on December 31, 2006, it had made imprints in over 360 cities and

towns in India. It has over 1, 75,000 advisors across the country, serving clients with full commitment. It has tied up

with ICICI Bank, Bank of India, Federal Bank, Lord Krishna Bank, some co-operative banks, NGOs, MFIs and corporate



for making inroads into the rural areas.

ProductsInsurance Solutions for Individuals: ICICI Prudential Life Insurance offers several novels, customer-centric products

for customers at every stage of life. The products and services offered by the organization are in various fields, such

as:

Savings & Wealth Creation Solutions

Premier Life Gold

Life Link Super

Invest Shield Life New

Cash Plus

Cash Back

Life Time Super & Life Time Plus

Save 'n' Protect.

Retirement Solutions

Life Link Super Pension

Forever Life

Immediate Annuity

Life Time Super

Child Plans

Education insurance - Smart Kid

Protection Solutions

Life Guard

Home Assure

Group Insurance Solutions

ICICI Prudential also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees.

Group Immediate Annuities

Group Term Plan



Group Superannuation Plan

Group Gratuity Plan

ICICI Lombard General Insurance: ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank Limited and Fairfax

Financial Holdings Limited. ICICI bank is India's second largest bank; Fairfax is Canada-based, engaged in general

insurance, reinsurance, insurance claims management and investment management. ICICI Lombard General

Insurance Company commenced its operations in general insurance business in August 2001.

ICICI Lombard is India's number one private insurance company; it is also the first general insurance company to be

given certification of ISO 9001:2000. The company provides simple and fast documentation, fast claims settlement,

online policy issuance, and comprehensive product line. It has also been given iAAA rating by ICRA for having highest

claims paying ability. In the very first year of operations, it was able to reach financial breakeven and achieve

underwriting breakeven in the second year. Security is provided through encryption and it is the first company to

provide digitally signed documents. It has been honored as the most Customer Responsive Company by the Economic

Times. Times of India have designated it as the Best Housing Insurance in the Smart Living Awards by 360 degrees. It

has also been awarded Gold Shield for "Excellence in Financial Reporting". It is among the top three companies to be

awarded the "General Insurance Company of the Year" at the 10th Asia Insurance Industry Awards.

ProductsBusiness Solutions

Industrial All Risk

Fire and Special Perils

Electronic Equipment Insurance

Fidelity Insurance

Consequential Loss (Fire) Insurance

Tea Corp Insurance

Burglary Insurance

Machinery

Personal Solutions

Group Personal Accidents

Health

Health Insurance



Project Solutions

Contractors' All Risk

Contractors' Plant & Machinery

Erection All Risk

Performance Guarantee

Liability Solutions

Director's & Officers Liability

Product Liability

Workmen's Compensation

Event Insurance

Product Liability

Travel Insurance

Senior Citizen Overseas Travel

Individual Overseas Travel

Corporate Overseas Travel

Domestic Travel

Birla Sun Life Insurance Company Limited:Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between Aditya Birla Group and Sun Life Financial

Inc. BSLI started functioning in March 2001 after getting the certificate of registration from IRDA.

Birla Sun Life Insurance Company Limited introduced unit Linked Life Insurance Solutions in India. Within a short

span of time it was able to establish itself as a leading player in the Private Life Insurance Industry. It has been

innovative and come up with customer-centric products to provide safety and services. The company has web-

enabled IT systems for better customer services and a strong distribution channel which is easily approachable. The

company shows corporate governance and a high degree of transparency in all business practices. It has professional

knowledge and global expertise of Aditya Birla Group.

Birla Sun life Insurance has been providing first class financial solutions to its customers and has been amongst the

top three private sector life insurance companies.



Its mission is to be amongst the top players in the eyes of customers and the first choice of insurance and retirement

solutions to individuals and groups. These innovative solutions are linked with global and technical expertise and are

deployed by a multi channel distribution network and enhanced technology.

The company aims at keeping all people associated with it - customers, clients, stakeholders and employees- happy

and fully satisfied. It wants to provide value added products and services to the customers, job satisfaction to

employees and highest returns to the shareholders.

Qualities like integrity, commitment, passion, and speed are the core values of the company. The products offered by

the company are:

Individual Life

Protection

Premium Back Term Plan

Birla Sun Life Term Plan

Saving

Simply Life

Flexi Save Plus

Supreme Life

Life Companion

Flexi Cash Flow

Prime Life

Flexi Save Plus

Children

Children's Dream Plan

Retirement

Flexi Secure Life Retirement Plan II

Riders

Critical Illness Plus Rider

Term Rider



Waiver of Premium

Critical Illness Rider

Critical Illness - Woman Rider

TOP 5 REGIONAL PLAYERS:

Life Insurance Corporation of India:Life Insurance Corporation (LIC) came into existence on 1st September 1956 through the amalgamation of 154 Indian

insurance companies, 16 non-Indian companies and 75 provident. The amalgamation was achieved with the help of

Life Insurance Act passed by the Parliament in the same year. The LIC was created with the goal of reaching all the

insurable people in the country and providing them financial coverage at a reasonable price. In the year 1956, LIC had

5 zonal offices, 33 divisional offices and 212 branch offices. With time there was a need for a branch office at every

district headquarter and many branches were opened, which raised the pace of the organization.

LIC now has 2048 fully computerized branch offices, 100 divisional offices, 7 zonal offices and the corporate office. At

present, online premium collection facility is being offered in selected cities as LIC has tied up with some banks and

service providers. For providing customer satisfaction the organization has introduced various schemes such as ECS,

ATM premium payment facility, IVRS, Info centers which are set up in various cities including Mumbai, Bangalore,

Chennai, Kolkata, New Delhi, Pune and many more. It has also come up with SATELLITE SAMPARK offices providing

easy access to policyholders. LIC has crossed many milestones and set standards for itself fostering unmatched

performance.

ICICI Prudential Life Insurance Company:ICICI Prudential is a joint venture between ICICI bank and Prudential plc, both having strong operations in their

respective countries. ICICI bank is one of the leading banks in India providing quality financial services and Prudential

is an international financial service provider headquartered at United Kingdom. ICICI and Prudential have respective

shares of 74% and 26%. The Company started operating in December 2000. Currently, total capital with the company

is Rs. 18.15 billion. ICICI Prudential was the first insurance company in India to receive a National Insurer Financial

Strength rating of AAA (Ind.) from Fitch ratings. It has been given the honor of being among the Most Trusted Brands

in the industry by Economic Times for 3 consecutive years. It has a network of 450 branches, over 1, 50,000 insurance

advisors and 18 bancassurance partners. As the organization grows and develops, it keeps introducing new range of

products and services and enhancing the quality of plans and solutions given to the customers. The distribution

network is one of the best, and is spreading across the length and breadth of the country. As on December 31, 2006, it

had made imprints in over 360 cities and towns in India. It has over 1, 75,000 advisors across the country, serving



clients with full commitment. It has tied up with ICICI Bank, Bank of India, Federal Bank, Lord Krishna Bank, some co-

operative banks, NGOs, MFIs and corporate for making inroads into the rural areas.

TATA AIG General Insurance:Tata AIG General Insurance Company Ltd. is a joint venture between Tata Sons and American International Group, Inc.

(AIG). The Tata Group is holding 74 per cent stake and the rest 26 percent is held by AIG. The company has got the

expertise, knowledge and strength of both the organizations.

Tata AIG General Insurance Company was founded on January 22, 2001. It offers general insurance in various

categories, such as automobile, home, personal accident, travel, energy, marine, property and casualty and specialized

financial solutions.

Jamsedji Tata founded Tata Group in 1860s which has an estimated turnover of around US $ 14.25 billion. It has

spread its operations in various fields such as steel, power, hotels, airlines, software services, communications, etc.

Some of its major projects have been Tata Tea, Tata Steel, Tata Chemicals, Titan, Tanishq, Voltas, Westside and Tata

Motors. Its imprints are made on the telecommunication and technology sector. Regarding telecommunications, it is

the largest international long distance service provider. Approximately two- third of the equity of Tata Sons is held by

a host of national institutions in science and technology, medical services and performing arts. By combining the

ethical values with business acumen and fulfilling its commitment to the nation, it has become one of the largest

groups in India.

American International Group, Inc. (AIG) is the leading international player in insurance and financial services. Its

network spreads across 130 nations. AIG member companies serve all types of customers, be it commercial or

individual. AIG is among the leading insurers and the largest underwriter of insurance. Aircraft leasing, financial

products and trading are some of the services offered by AIG. AIG has a global expertise of fulfilling the customer-

centric needs. It has specialized investment management capabilities in equities, fixed income, alternative

investments and real estate. AIG's stock has been listed in the New York Stock Exchange as well as stock exchanges in

London, Paris, Switzerland and Tokyo.

The organization caters to individuals, small businesses and corporates. Individual plans include motor, home,

accident & health and travel insurance, whereas corporate plans include accident & health, travel, energy, property,

marine and liability plans.

New India Assurance Company: Sir Dorab Tata founded New India Assurance Company on 23rd July 1919. It has 1068 offices comprising of 26

regional offices, 393 divisional offices and 648 branches with more than 21,000 employees. It is one of the largest



Non- Life insurers in Afro- Asia and the first one to cross Rs. 5,000 cores of Gross Premium. It has a global network

expanding in countries like Japan, U.K., Middle East, Fiji and Australia. Its international operations started in 1920 and

have spread across 24 countries having a network of 19 branches, 12 agencies, 2 associate companies and 2

subsidiary companies. The company contributes 80% of total overseas premium in India. The company has highly

qualified staffs, which excels in both expertise and knowledge and are trained to provide satisfaction to the

customers. It is the only company able to establish strong relationships overseas and has a record of successful

trading outside India.

The performance has been outstanding and the company has been able to maintain a strong position in the market.

It has been the pioneer in various fields such as:

Setting up an Aviation Insurance Department in 1946.

Handling the complete insurance requirements of the Indian Shipping Fleet.

Introduced its own Training School.

Pioneering the concept of 'Model Office Training'.

Creating department in Engineering insurance.

Satellite insurance.

The company wants to develop itself as the best general insurance company in the industry. It is concerned about the

society and community, and provides financial security at reasonable prices. The company gives utmost importance

to customer needs and there is transparency in its operations. Some of the policies and schemes introduced by the

company are:

Public Liability Policy

Jewelers Block Policy

Pravasi Bharatiya Bima Yojana Policy

Universal Health Insurance Scheme

Fire Policy

HDFC Standard Life Insurance Company Limited:HDFC Standard Life Insurance Company Limited is one of the first companies to be licensed by IRDA to operate in the

Insurance sector. The company came into existence on 14th August 2000. Both Crisil and ICRA have honored it with



AAA Ratings. Similarly Moody's and Standard and Poors have also honored it AAA ratings. HDFC holds 81.4% share in

HDFC and the remaining 18.6% stake is with Standard Life. It integrates the strong expertise and stability of Standard

Life and HDFC.

It is one of the most trusted companies; it is easily accessible and approachable, offering value services to its

customers.

The company aims to provide:

Innovative products to cater to different needs of different customers

Customer service of the highest order

Use of technology to improve service standards

Value for money for customers

Increasing market share

Professionalism in carrying out business

The values ingrained in the company are to provide financial security to policyholders, maintain trust and keep

innovating to establish it as a unique player.

BANCASSURANCE:



Bancassurance is an innovative distribution channel involving banks to sell insurance products of Insurance

Companies. Bancassurance simply means selling of insurance products by banks. Bancassurance partner of

HDFC SLIC are:-

ORGANISATIONAL HIERARCHY


http://www.unionbankofindia.com/

http://www.indian-bank.com/

http://www.saraswatbank.in/

http://www.bankofbaroda.com/


TOP MANAGEMENT:


CHAIRMAN

MD

ZONAL MANAGER

REGIONAL MANAGER

RETAIL MARKETING ALTERNATIVE CHANNEL OPERATION CHANNEL HUMAN RESOURCE

TERRITORY MANAGER

BRANCH MANAGER

ASST. B.M

BUSINESS DEV. MANAGER

SALES DEV. MANAGER

TERRITORY MANAGER

BRANCH MANAGER

CHANNEL EXUCATIVE

TEAM MANAGER

OPERATION MANAGER

HR EXCUTIVES


Mr. Amitabh Chaudhry Managing Director and Chief Executive Officer Mr. Amitabh Chaudhry is the Managing Director and Chief Executive Officer of HDFC Standard Life.

Before joining HDFC Standard Life in January 2010, he was the Managing Director and CEO of Infosys BPO and was also heading an Independent Validation Services unit in Infosys Technologies.

Mr. Chaudhry started his career with Bank of America delivering diverse roles ranging from Head of Technology Investment Banking for Asia, Regional Finance Head for Wholesale Banking and Global Markets and Chief Finance Officer of Bank of America (India).

He moved to Credit Lyonnais Securities in 2001 in Singapore where he headed their investment banking franchise for South East Asia and structured finance practice for Asia before joining Infosys BPO in 2005. Mr. Chaudhry completed his Engineering in 1985 from Birla Institute of Technology and Science, Pilani and MBA in 1987 from IIM, Ahmadabad.

Mr. Paresh Parasnis

Executive Director and Chief Operating Officer

Mr. Paresh Parasnis is the Executive Director and Chief Operating Officer of HDFC Standard Life.

A fellow of the Institute of Chartered Accountants of India, he has been associated with the HDFC Group since



1984. During his 16-year tenure at HDFC Limited, he was responsible, for driving and spearheading several

key initiatives. As one of the founding members of HDFC Standard life, Mr. Parasnis has been

responsible for setting up branches.

HEAD OFFICE:

HDFC Standard Life Insurance Co. Ltd.

'Trade Star', 2nd floor,’A’Wing,

Junction of Kondivita and M.V. Road,

Andheri-Kurla Road,

Andheri (East), Mumbai - 400 059.

PHONE: (Board) (022) 2822 0055 / 6751 6666

Fax: 2822 9998 / 2822 2414



REGIONAL OFFICE AND BRANCH OFFICE:

.



COMPETITORS BY COMPANY:


http://www.inglife.co.in/home.aspx

http://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/index5.aspx

http://www.maxnewyorklife.com/index.aspx

http://www.iciciprulife.com/public/default.htm


COMPARATIVE ADVANTAGE OVER COMPETITORS PRODUCT:

I compared two products, ICICI smart kid unit link and HDFC young star, in both the policies parent is insured and child in nominee or beneficiary,

Both the policies contains same features, only additional rider is available in smart kid is income benefit rider (IBR), how this rider works? this rider comes in the picture when the parent expires or becomes permanent disable at that time this rider pay 10% of sum assurance to nominee,

HDFC Youngstar offers Insurance Cover upto 20 Times of Annual Premium. You may Pay Rs. 30000 per year & take Insurance Cover of Rs. 6 Lacs.

You may take Critical Illness Rider in HDFC Youngstar upto 65 years Age(as it Cheaper than other ULIPS ).

The returns from HDFC Taxsaver, HDFC LT Advantage fund are better than the returns from HDFC Standard Life Equity Fund.

HDFC Standard ULIP Returns are over 70% in last 1 year.

HDFC Youngstar with Maximum Insurance Cover of Rs.3.6 Lacs

MILESTONES IN THE HISTORY

HDFC is India’s leading housing finance institution and has helped build more than 23, 00,000 houses since

its incorporation in 1977.

In Financial Year 2003-04 its assets under management crossed Rs.36,000Cr.

As at March 31, 2004, outstanding deposits stood at Rs. 7,840 crores. The depositor base now stands at

around 1 million depositors.

Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year



Awarded The Economic Times Corporate Citizen of the year Award for its long-standing commitment to

community development.

Presented the ‘Dream Home’ award for the best housing finance provider in 2004 at the third Annual

Outlook Money Awards

HDFC Standard Life Insurance is the first private life insurance company to be granted a license by IRDA

Rated as the "Best New Insurer - 2003" by Outlook Money magazine, India’s number 1 personal finance

magazine

Rated by ‘Business world’ as ‘India’s Most Respected Private Life Insurance Company’ in 2004.

Has the highest brand recall, close to 80% (Source: AC Neilson ORG MARG, April 2005)

Has one of the widest branch networks with offices in over 100 cities servicing over 440 towns

COLLABORATIONS & AFFILIATIONS:

SUBSIDIARY AND ASSOCIATE COMPANIES:

HDFC Bank

HDFC Mutual Fund

HDFC Standard Life Insurance Company

HLSIL

HDFC Chubb General Insurance Company Ltd.

Intelnet Global Services Ltd.

Other Companies Co-Promoted by HDFC

Financial Information with regard to Subsidiary Companies

SWOT ANALYSIS


http://www.intelenetglobal.com/

http://www.hdfcchubbindia.com/

http://www.hdfcinsurance.com/

http://www.hdfcfund.com/

http://www.hdfcbank.com/


SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps

marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths

and weaknesses are internal factors. Opportunities and threats are external factors.

HDFC STANDARD LIFE

STRENGTH

FINANCIAL EXPERTISE

As a joint venture of leading financial services groups, HDFC Standard Life has the financial expertise required to manage your long-term investments safely and efficiently.

RANGE OF SOLUTIONS

HDFCSLIC a range of individual and group solutions, which can be easily customized to specific needs. HDFCSLIC group solutions have been designed to offer complete flexibility combined with a low charging structure.

TRACK RECORD SO FAR



HDFCSLIC gross premium income, for the year ending March 31, 2008 stood at Rs. 4,859 cores and new business premium income stood at Rs. 2,685 cores.The company has covered over 9,59,000 lives year ending March 31, 2008.

MONEY POWER WHICH MAKES THEM IGNORANT ABOUT THE GESTATION

PERIOD.

LARGE NETWORK BRANCHES WHICH HELPED TO CUSTOMER FOR THE

PAYMENT

BRAND IMAGE ,BUSINESS EXPERIENCE AND INNOVATIVE PRODUCTS

THE FINANCIAL CONSULTANT ARE VERY SELECTIVELY CHOSEN HAVE

EXCELLENT COMMUNICATION SKILLS.

SERVICE QUALITY WHICH IS CRUX OF THEIR MISSION

HDFCSLIC DECLARED 7TH CONSECUTIVE BONUS.

THE AVERAGE EPI IS RS.34,000.

IT IS THE FASTEST GROWING PVT. LIFE INSURANCE COMPANY IN INDIA.

WEAKNESS

HEAVY MANAGEMENT EXPENSES AND ADMINISTRATIVE COSTS.

LOW CUSTOMER CONFIDENCE ON THE PRIVATE PLAYERS.

VERTICAL HIERARCHICAL REPORTING STRUCTURE WITH MANY

DESIGNATIONS AND CADRES LEADING TO LACK OF CLARITY OF ROLES AND

RESPONSIBILITIES AT ALL LEVELS.

POOR RETENTION PERCENTAGE OF TIED UP AGENTS.

OPPORTUNITIES

HUGE MARKET IS LITERALLY UNTAPPED. OUT OF ESTIMATED 320 MILLION

INSURABLE MARKETS ONLY 20% OF THE POPULATION IS INSURED.

HEALTH INSURANCE AND PENSION SCHEMES, AN ESTIMATED MARKET

POTENTIAL OF APPROXIMATELY $15 BILLION.



INSURANCE COVERAGE CAN BE GIVEN BOTH TO PARENT AND CHILD SO THAT

THEIR LIFE COULD BE COVERED IN BOTH CASES. THE CUSTOMER DOESN’T

MIND PAYING SOME EXTRA PREMIUM FOR THAT.

THREATS

PLAYERS LIKE ICICI PRUDENTIAL AND BIRLA SUN LIFE HAVE SCHEMES WITH

LOW PREMIUM FOR THE SAME PLANS.

ENTRY OF MANY OTHER PRIVATE COMPANIES WITH EQUALLY STRONG

EXPERIENCE AND FINANCIAL STRENGTH OF FOREIGN PARTNERS MAKING THE

COMPETITION DIFFICULT AND SATURATING THE URBAN MARKETS.

CURRENT GOVT. POLICIES DO NOT ENCOURAGE GROSS DOMESTIC SAVINGS.

LIC HAS WOKEN UP FROM SLEEP AND IS FOLLOWING COMPETITIVE

STRATEGIES .ITS HUGE SURPLUS IN THE LIFE FUND GIVES A CAPABILITY TO

LODGE PRICE WAR.

FINANCIAL STRENGTH

Standard Life Investments assets held at 30 June 2006:

INR 10,469,791,000,000 or 1046979 Cores

Worldwide insurance new premium income for full year at 31 December 2005:

INR 518,160,431,000 or 51816 Cores

INDIAN MARKET EXPERIENCE

First market entry - 1847

Innovative products and processes

Last claim settled in 1997

PROMOTERS

HDFC LIMITED



Incorporated in 1977 to provide home ownership by providing long term loans

Focus on Excellence; Customer Satisfaction and enhancing Shareholder value

Almost 90% of initial shareholding in the hands of domestic institutions and retail investors. Currently 78%

of shares held by FII.

Rated “AAA” by CRISIL and ICRA

HDFC is India’s leading housing finance institution and has helped build more than 23,00,000 houses since its

incorporation in 1977.

In Financial Year 2003-04 its assets under management crossed Rs. 36,000 Cr.

As at March 31, 2004, outstanding deposits stood at Rs. 7,840 cores. The depositor base now stands at around 1

million depositors.

Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year

Stable and experienced management

High service standards



CHAPTER-3

STUDY OF SELECTED

RESEARCH PROBLEM



EXECUTIVE SUMMARY:

Project Title: RECRUTIMENT AND SELECTION OF FINANCIAL CONSULTANT IN HDFCSLIC.

Name of the Organization: HDFC SLIC

Place of work: BTM layout, Bangalore

Organizational Guide: Mr. Karthik Kumar KM

Duration: 26th April to 19th June 2010.

The service industry is one of the fastest growing sectors in India today. The upcoming sectors which are really

showing the graph towards upwards are Telecom, Banking, and Insurance. These sectors really have a lot of

responsibility towards the economy. Amongst the above-mentioned areas insurance is one sector, which took a lot of

time in positioning itself. The insurance business of non-life companies was not much in problems but the major

problem was with life insurance. Life Insurance Corporation of India had monopoly for more than 45 years, but the

picture then was completely different. Previously people felt that “Insurance is only for classes not for masses” but

now the picture is vice- versa.

On the basis of my research I find that most of the people think that insurance sector is hard and profitable, the reason

people think that insurance sector is hard because since insurance is unsought need of the people therefore it is very

hard to sell the polices of the company . In my research I also find that more than 80% of the people don’t want to join

HDFC SLIC as a financial consultant. The reason they said for not joining HDFC SLIC is lack of awareness and salary

structure as well as people were satisfied with their own job and they don’t have time to sale policy. Some people also

said that HDFC SLIC is a private sector company and due to strong market share and awareness among people about

LIC, will make their job difficult to work as FC for company.

SCOPE OF THE STUDYo To get in touch with the industrial and organizational environment

o To understand the actual working condition in the organization

Recruitment of Financial Consultants (FC) in HDFC Standard Life



This is a good business opportunity offered by HDFC Standard Life to become a business partner and earn a good amount of money.

Business description

The HDFC Standard Life Insurance appoints the Certified Financial Consultants to increase their customer base and keep their customers satisfied. These Financial Consultants identify potential customers, identify needs of potential customers, convert prospect clients into company’s customers, analyze the financial needs of customers, and then provide customized financial solutions to each customer and conduct reviews on a regular basis to keep the customers satisfied. Thus these financial consultants help the company in not only acquiring new customers but also keeping its customers happy. Also HDFC Standard Life offers unmatched support to its Financial Consultants with various training programmes to help excel in this increasing customer satisfaction.

RECRUITMENT PROCESS

The chief attributes HDFC SL looks out for in a candidate.

They look out for a candidate who values Integrity,

has a zeal for Excellence,

is focused on Results,

is Self driven and Enthusiastic,

is a good Learner and Team Player

is dedicated to Customer Satisfaction

The Recruitment Process at HDFC SL

HDFC SL recruitment process is as follows:

Drafting an Application

Candidates should ensure that the information is clear and well organized. They should demonstrate their skills/experience/responsibilities in the previous company.

Assessment Process

Company conducts relevant assessments like psychometric tests and written exercises - these are the part of the selection process



The interview panel asks questions which assesses candidate’s knowledge, skills and attitude. Candidate will also have his/her queries addressed.

Conditions relating to offers of employment

All offers are subject to:

Satisfactory medical clearance Satisfactory references Evidence of qualifications and previous employment testimonials

Who can be the financial consultant?

Section 42(4) of the amended Insurance Act, 1938 states an agent to be one who is not:

A minor. Found to be sound mind by a court of competition jurisdiction. Found guilty of criminal background. Found guilty of having knowingly participated in or connived at any fraud /dishonesty or misrepresentation

against an insured.

Work of financial consultant:

The FC is the interface between the customer and insurance company. The agent should be able to accomplish the

following service.

Assessing and analyzing the clients risk profile.

Finding the best product or products available in the market.

Negotiating the best deal available.

Continuity of service throughout the period of insurance.

Excellent Opportunity

The strategy of appointing certified Financial Consultants adopted by HDFC Standard Life Insurance is an excellent

opportunity for both the company and the candidates who get to become FC’s of the company. The company is

benefitted as it gets large customer base, satisfied customers and therefore more profits. The candidate gets benefits

in the form of a rewarding career with zero investment and flexible work timings, excellent commissions , world class

training free of cost and certification by Insurance Regulatory Development Authority. Thus it is the win-win situation

for both company and the FCs.

TRAINING



Perfects candidate’s knowledge about the insurance industry as well as products

IRDA Training prepares the career as a Financial Consultant and enables to pass the IRDA examination easily

Disha Training hones the selling skills, enables to understand customer needs and provide need-based insurance solutions

Advanced Training upgrades the capability and knowledge through sophisticated training programs customized for the changing world of financial products and markets.

DESIRED PROFILE

Age: 18 Yrs to 65 YrsEducation: Intermediate or moreExperience: Not MandatoryType of Job: Full Time or Part Time

DOCUMENTS REQUIRED

8 photograph Age proof (passport, Birth certificate, College Leaving Certificate, Driving License)

Address proof

Education proof

Copy of PAN Card

Duely Signed Cancelled Cheque of self

A candidate needs to bring a DD of Rs. 925/- for offline training and Rs.825 for online training towards HDFC SLIC LTD payable at Mumbai.

Job Description for Financial consultants

Pre sales role

Identifying prospective clients. Meeting prospective clients. Understanding the need of the client. Presenting solutions to client. Closing sales.

Post sales role

Taking 1-2 references from the client Providing timely updates to the client for maintaining Lifelong relationship.



Benefits to FCs

Financial Benefits: Commission on issuance of every policy. Commission directly credited to bank account of FCs within 15 days. These commission varies from 7.5-40% according to plan.

STATEMENT OF THE PROBLEM

One of the major problem affecting the company for the recruitment of financial consultant is the commission basis payment of the company, people want to be financial consultant but on a fixed salary basis

Therefore, research has been done to understand the problems of potential financial consultants in HDFC standard life insurance company and improve the recruitment process.

OBJECTIVE OF STUDY

OBJECTIVES:

To study awareness of the HDFC Standard life insurance

To understand the deciding criteria for people to become Financial Consultant.



RESEARCH METHODOLOGY

In this project conclusive research is used. In conclusive research data was collected by descriptive research method. The method applied in descriptive research is cross sectional studies field work and survey. The study is concerned with the specific prediction of distribution of insurance policy. It assimilates the narration of facts and characteristics concerning individual, group or situation.

The objective of this research is to enhance the more and more recruitment of FC for HDFCSL and increase the market share. In the market there are lots of insurance companies playing and trying to achieve more and more market share. In this situation is very important to sustain in the market and increase share. For this purpose research have been done on it.

For this objective telephone calling and field survey have been used to try and find out the response of the public about HDFCSL and Insurance.

Phone calling have been done and try to get customers’ view about the company. Questionnaires have been prepared for collecting the data and 100 phone calls in different region of Bangalore are done.

METHODS OF DATA COLLECTION

Data is the significant part of the research. All research depends upon the data. Whatever data is collected during the internship in the HDFCSL, it is divided into two parts which are thus:-

a. Primary data collection

Primary data are those which are collected fresh and for the first time and thus happen to be original in chapters. In

terms of primary data structure questionnaire was prepared to interview the professional, unemployed students,

housewives, investment consultant, and other in Malleswaram and Majestic location of Bangalore Analysis clearly

reflected the views and preference regarding the perception of the people towards joining HDFC standard life as

Financial consultant.

.b. Secondary data

Secondary data is any data, which have been gathered earlier for some other purpose. Secondary data was collected

from the existing data base of the company.



Working Procedure

For the research, Bangalore has been targeted. Study of details of insurance product of HDFCSL and the other competitor of it, suggestions, its marketing strategy and its advertisement strategy has been studied. During the period we were in constant touch with the senior and area sales manager and have to submit daily report of the work and full information about phone calls and questioners. Questionnaire consisting of open ended questions was used for collection the information.

Sampling Procedure and Sample Size - ??

Sample Area

The working area is Bangalore(some parts of Majestic and Malleshwaram).Data have been collected from these areas. It is assumed that that person will invest in insurance sector that are salaried or professional. Targeted age group is equal or more than 25.

Instruments Used

Data has been collected from field survey and through phone calling. The study is to be made on the recruitment of

financial consultant and questionnaire should be filled accordingly.

The organizational guide Mr. Karthik (sr. channel devlopment manger) provided guidance on how to collect the data

and also provided some data base.

Process of Recruitment of Financial Consultant

For the research primary data was collected by interviewing the prospect financial consultants. Telephonic interviews were also used for the study.

Critical Ratio

In the insurance sector the ratio of making FC is generally becomes 1:20 or may be more than that. During the recruitment of financial consultant 100 people were contacted out of which only 50% people gave good response and 6 got converted to into FC. So the critical ratio becomes 1:8.



No. Of Prospects Contacted

As written above contacts have been made with 100 people. In these only 50 people gave good response and 30 people gives the appointment to meet with them. In these fifty people 10 people are still in process for being financial consultant and 3 people denied for become FC. At last recruitment of 06 people have been done as financial consultant.

No. Of Appointment Generated

In the prospect of getting appointment generated through phone calling. Contacts have been made with 80 people and got 35 appointments. In these appointments 20 people are still giving the new date of appointment. Rest of the 10 person cancelled the appointment and rest 5 people were met and finally they are now FC.

Through natural market 4 people were contacted and recruited them as a financial consultant for HDFCSL.

Through the meeting with friend’s relative and other medium 18 contacts have been done and in these 6 people are recruited as FC and rest are in the process.

No. Of FC Recruited

After contact of 50 people 3 have been recruited through phone calling, 2 through natural market, and 1 through the friend’s relatives and the other contacts. In the nutshell 06 people have been recruited as a Financial Consultant.

In the process of recruitment of financial consultant 20 people are still in process because 5 persons who are student and pursuing BCA, MA, MBA and TOUR and TRAVEL have financial problem, rest are giving the new dates. Rest 15 person are giving the new date for meeting with the different-different types of excuses but finally they will get recruited.



CHAPTER -4

DATA ANALYSIS



I. DATA ANALYSIS, INTERPRETATION AND PRESENTATION

1.What is your Age?

TABLE

Sr. No. Category No. of Respondents Percentage

1 18-23 Years 20 20%

2 24-29 Years 35 35%

3 30-35 Years 30 30%

4 35 & above 15 15%

Total 100 100%

Base 100 respondents

GRAPH



Interpretation

From the table and graph above it can be seen that

20% respondent’s age are 18 to 23 years. 35% respondent’s age are 27 to 29 years. 30% respondent’s age are 30 to 35 years. 15% respondent’s age are 35 to above years.

2. What is your marital status?

TABLE


1 Married 70 70%

2 Unmarried 30 30%

Total 100 100%

Base 100 respondent

GRAPH



Interpretation


70% respondents are married. 30% respondents are unmarried.

3. What is your Educational Qualification?

TABLE


1 Under graduate 25 25%

2 Graduate 40 40%

3 Post graduate 35 35%

Total 100 100%

Base 100 respondent

GRAPH



Interpretation


25% respondents are under graduate. 40% respondents are Graduate. 35% respondents are Post graduate.

4. What is the number of years you are in Bangalore?

TABLE


1 Less than five years 39 39%

2 More than five years 61 61%

Total 100 100%

Base 100 respondent

GRAPH



Interpretation


39% respondent’s are in Bangalore is less than five years. 61% respondent’s are in Bangalore is more than five years.

5. What is your Occupation?

TABLE


1 Business 20 20%

2 Profession 54 54%

3 Service 26 26%

Total 100 100%


GRAPH



Interpretation


20% respondent’s Occupation is Business. 26% respondent’s Occupation is Profession. 54% respondent’s Occupation is Service.

6. What type of work do you prefer- job with timely salary or lucrative commissions if you crack a deal?


1 Timely salary 70 70%

2 Lucrative commissions 30 30%

Total 100 100%


GRAPH



Interpretation-


30% of respondents like job with high commissions. 70% of respondents like job that gives timely salary

7. What is your annual household income?

TABLE


1 Less than 2 lacs 49 49%

2 Between 2 to 5 lacs 31 31%

3 Between 5to 8lacs 15 15%

4 More than 8 lacs 05 5%

Total 100 100%

Base 100 respondent

GRAPH



Interpretation


49% respondent’s annual household income is less than 2 lacs. 31% respondent’s annual household income is between 2 to 5 lacs. 15% respondent’s annual household income is between 5 to 8 lacs. 5% respondent’s annual household income is more than 8 lacs.

8. What is your perception about insurance sector?

TABLE


1 Hard and lucrative 30 30%

2 Hard but not rewarding 09 9%

3 Smooth and rewarding 41 41%

4 No idea 20 20%

Total 100 100%

Base 100 respondent

GRAPH



Interpretation


30% respondent’s perception about insurance sector is Hard & lucrative. 9% respondent’s perception about insurance sector is hard but not rewarding. 41% respondent’s perception about insurance sector is Smooth & rewarding. 20% respondent’s perception about insurance sector that they have no idea.

9. Do you know about HDFC Standard Life Insurance?

TABLE


1 Yes 82 82%

2 No 18 18%

Total 100 100%

Base 100 respondent

GRAPH



Interpretation


85% respondents are known about HDFC Standard life insurance. 15% respondents are not known about HDFC Standard life insurance.

10. Do you have any Insurance Policy?

TABLE


1 Yes 80 80%

2 No 20 20%

Total 100 100%


GRAPH



Interpretation


80% respondent’s have insurance policy. 20% respondents do not have insurance policy.

11. Name of Insurance Company you know about?

TABLE


1 LIC 84 52%

2 ICICI 24 15%

3 HDFC SLIC 20 13%

4 OTHERS 32 20%

Total 160 100%

Base 100 respondent

GRAPH



Interpretation


52% respondents aware by LIC. 15% respondents aware by ICICI. 13% respondent’s aware by HDFCSLIC. 20% respondent’s aware by OTHERS.

12. Do you hold any license of any insurance company?

TABLE


1 Yes 35 35%

2 No 65 65%

Total 100 100%


GRAPH



Interpretation


35% respondents are holding license of any insurance company.

65% respondents are not holding license of any insurance company.

13. Are you satisfied with the company?

TABLE


1 Yes 60 60%

2 No 40 40%

Total 100 100%


GRAPH



Interpretation


60% respondents are satisfied with their insurance company.

40% respondents are not satisfied with their insurance company.

14. Do you know about Life Insurance recruitment policies related to financial consultant?

TABLE


1 Yes 41 41%

2 No 59 59%

Total 100 100%


GRAPH


Know about Life Insurance


Interpretation


41% respondents are known about HDFC Standard Life Insurance recruitment policies related to financial consultant.

59% respondents are not known about HDFC Standard Life Insurance recruitment policies related to financial consultant.

15. Will you be interested to become Financial Consultant?

TABLE


1 Yes 30 30%

2 No 70 70%

Total 100 100%


GRAPH



Interpretation


30% respondents are interested to become financial consultant.

70% respondents are not interested to become financial consultant.

16. If ‘No’ what is the reason of not joining HDFC STANDARD LIFE?


1 No time 23 23%

2 Lack of interest 25 25%

3 Satisfied with current job 36 36%

4 Others 16 16%


GRAPH



Interpretation


23% respondents are given reason that they do not have time.

25% respondents are given reason that they don’t have interest.

36% respondents are given reason that they have satisfied with their current job.

17. Which insurance company would you like to join as advisor?


1 LIC 23 23%

2 HDFCSLIC 8 8%

3 Others 13 13%

4 None 56 56%


GRAPH



Interpretation-


23% of respondents want to join LIC. 8% of respondents want to join HDFCSLIC 13% of respondents want to join other Company 56 % don’t want to join any insurance company as advisor



FINDINGS:

People are very less aware about the recruitment policy of HDFC SLIC related to FC.

People are less interested to join HDFC SLIC as FC.

Most of the people don’t want to join HDFCSLIC because they are satisfied with their current job.

Many respondents have perception that although it is Profitable venture, but selling insurance policy is very

hard, in term of Convincing people.

Overall the perception of respondent for insurance sector as career opportunity is hard and profitable.

23% respondent said that they will prefer to become advisor for LIC as compare to other private company.

Most of the people do not want to join as FC because they prefer job with timely salary rather than lucrative

commissions.



CONCLUSION:

HDFC Standard Life, the insurance arm of HDFC is expected to go on flow.

Promoted by HDFC & Standard Life, already has good number of employees on board and is recruiting Financial

Consultants heavily to take the headcount to many more. It is on the edge of increasing its client through its attractive

schemes and offer.

The project opportunities provided was market segmentation and identifying prospective clients in potential

geographical location and for recruiting them as financial consultant so to explore new Business Opportunity.

Through this project, it could be concluded that people are not much aware about the various benefit of being

Financial Consultant that are currently prevailing in the insurance industry. Although some of them show interest in

becoming FC for the company after knowing about its various benefits like good commission structure, gifts and trips

Within the country or abroad, felicitations of star performer program etc. So company should make people aware

about the benefits they are giving to FC, to attract the prospect and meet their expectation to retain them according to

their performance.

Limitation of the Project

Every work has its own limitation. Limitations are extent to which the process should not exceed. Limitations of this

project are:-

The project was constrained by time limit of two months.

Mindset of people may vary depending upon their age, gender, income etc.

Getting appointment from the concern person was very difficult.

People mind set about the survey was an obstacle in acquiring complete information & positive interaction.

Respondents were very busy in their schedule. So it was very time taken in every Questionnaire response by

them.



RECOMMENDATIONS

The company should advertise its recruitment policy related to FC in the Newspaper especially in the

employment newspaper.

The company should promote FC as employment opportunity among the people who are not much educated

especially in rural area.

The company should revise its eligibility criteria that they have made for FC they should target the

unemployed youth as FC for the company.

Free life cover for every active Financial Consultant and payment of commission timely.

Company should organize some welfare program in the society, so that people will be aware about the

company

Customers should be made aware of the brand name of Insurance Company through regular advertisement,

which in turn help FC to sell policies.



QUESTIONNAIRE

Q.1 What is your Age?

Ans: (a) 18-23 (b) 24-29 (c) 30-35 (d) 35 and above

Q. 2 what is your marital status?

An: (a) Married (b) Unmarried

Q.3 What is the Educational Qualification?

Ans: (a) Under graduate (b) Graduate (c) Post graduate.

Q.4 From how many No. of year’s you are in Bangalore?

Ans: (a) Less than 5 years (b) More than 5 years

Q.5 What is your Occupation?

Ans (a) Business (b) Profession (c) service

Q.6 What type of work do you prefer- job with timely salary or lucrative commissions if you crack a deal?

Ans: (a)Timely salary (b) Lucrative commissions

Q.7 What is your annual household income?

Ans (a) Less than 2 lac (b) Between 2 to 5 lac (c) Between 5 to 8 lac

(d)More than 8 lac

Q. 8 what is your perception about insurance sector?

Ans: (a) Hard and lucrative (b) Hard but not rewarding (c) Smooth and rewarding (d) No idea

Q.9 Do you know about HDFC standard life insurance?

Ans: (a) Yes (b) No



Q.10 Do you have any insurance policy?

Ans: (a) Yes (b) No

Q.11 Name of Insurance Company?

Ans: (a) LICI (b) ICICI (c) HDFC Standard life (d) Others

Q.12 Do you hold any license of any insurance company?

Ans: (a) Yes (b) No

Q.13 Are you satisfied with company?

Ans: (a) Yes (b) No

Q.14 Do you know about HDFC Standard Life Insurance recruitment policies related to Financial Consultant?

Ans: (a) Yes (b) No

Q.15 Will you be interested to become Financial Consultant?

Ans: (a) Yes (b) No

Q.16 If ‘ No’ what is the reason of not joining HDFC STANDARD LIFE?

Ans: (a)No time (b)Lack of interest (c)Satisfied with current job (d)Others

Q.17. Which insurance company would you like to join as advisor?

Ans: (a)LIC (b)HDFCSLIC (c)Others (d) None



ABBREVIATIONS

HDFC- Housing development and Finance Corporation

SLIC- Standard Life Insurance Company

IRDA- Insurance Regulatory and Development Authority

FC- Financial Consultant

BIBLIOGRAPHY

TEXT BOOKS:-

IC-33 LIFE INSURANCE

WEBSITES:-

WWW.HDFCINSURANCE.COM

WWW.IRDAINDIA.ORG

HTTP://UK.GROUP.STANDARDLIFE.COM

WWW.LICINDIA.COM


http://WWW.IRDAINDIA.ORG/

http://WWW.HDFCINSURANCE.COM/

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