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8/8/2019 LIC VS BSLI
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Performance evaluation of BirlaSun Life Insurance products incomparison with Life Insurance
Corporation (LIC)
A RESEARCHON
PRESENTED BY
SHIVAM GUPTA
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OBJECTIVES
INTRODUCTION
METHODOLOGY
ANALYSIS
FINDINGS
CONCLUSION
RECOMMENDATIONS
CONTENTS
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To find out the reason of low market
penetration of Birla sun life insurance.
To find out why people like to take LICplans in comparison to Birla sun life
insurance plans.
To study and determine thecompetitor (LIC) position in the
market.
Objective
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Birla Sun Life Insurance Company
Limited is a joint venture between The
Aditya Birla Group, one of the largestbusiness houses in India and Sun Life
Financial Inc., a leading international
financial services organisation.
The local knowledge of the Aditya Birla
Group combined with the expertise of
Sun Life Financial Inc., offers a
formidable protection for your future.
INTRODUCTION
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74%
26%
BIRLASUNLIFEINSURANCE
CO. LIMITED
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LIFE INSURANCE CORPORATION
OF INDIA LIC of India is one of Indias leading
financial institutions, offering
complete financial solutions thatencompass every sphere of life.
The LIC has a net of overRs. 1,800 crores
and employs over7,500 employees in itsvarious businesses. With a presence in
82cities in India and it services a customer
base of over 20, 00,000.
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PRIMARY SOURCES-
The study was conducted through survey method with the
help of questionnaire .
SAMPLE SIZE- 100
SAMPLE AREA- Bangalore R.T Nagar
SECONDARY SOURCES-
Internet
Newspapers
Magazines-
METHODOLOGY
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ANALYSIS
BSLI PLAN
In BSLI plan policy
term is 18 yearsless the age of
child at entry
BSLIS SERAL
JEEVAN PLAN
In BSLI plan entry
age is 1855 years
In BSLI min.
LIC PLAN
But in LIC plan
policy term is 525years
LICS SERAL JEEVAN
PLAN
LIC plan entry age
is 1260 years
In LI lan min.
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CONT
BSLI PLAN
BSLIs Retirement
plan In BSLI plan min.
premium is 9600
p.a.
BSLI Platinum plus
plan
In BSLI min. annual
premium is
LICPLAN
LICs New Jeevan
Suraksha plan.
In LIC plan min.
premium is 3000
p.a.
LIC Market plusplan
In LIC plan premium
is 10000p.a.
Entry age in LIC
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REASONS FOR LOWPENETRATION
OF BIRLA SUNLIFE INSURANCE There is no plan for the low income group.
Fees for the advisor is higher than the
other companies. Company does not penetrate on the rural
market at a time.
OLD HABITS DIE HARD: Its still difficult
task to win the confidence of publictowards private company.
The company is facing major threats
from LIC etc. which is an government
company.
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OPINIONS OF PEOPLE INSURANCE
SECTOR GOODOR BAD
90%
10%
YES
NO
Particular
s
No. ofrespon
dents
Yes90
No 10
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WHICHCOMPANYPOLICYMORE
PREFERED BY
PEOPL
E
Partic
ulars
No. of
respon
dents
BSLI 20LIC 80
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Do youthinkthatinvestment
in BSLIisbetterthanLIC ?
34%
66%YES
NO
Partic
ulars
No. of
respondent
sYes 34
No 66
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Innearfuture, doyouthink BSLI
willhavehighgrowthrate?
0%
5%
10%
15%
20%
25%
30%
35%
40%
AGREENETURAL
DISAGREECAN'TSAY
Series1
Particul
ars
No. of
respondent
sAgree 20
Neutral 26
Disagree 14
Cant say 40
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FINDINGS
90 people saying that investment in
insurance sector is good option and 10
are saying no. 20 people have BSLI policies and 80
have LIC policy.
66 people are saying that investmentin LIC is better than BSLI, 34 are
saying investment in BSLI is better.
26 people saying that BSLI growth
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CONCLUSION
From the above study conclusion is
derived that people have more policies
of LIC in comparison to BSLI.
People have more faith in govt.
companies than private sector
Companies.
So it is necessary for BSLI Co. that it
Should penetrate it,s market in rural
areas at a time
Insurance sector is very wide and co. can
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RECOMMENDATIONS BSLI Company should work in systematic
way.
Company should target each and everyclass of the society.
Information regarding new product should
be provided to the customers.
Charges should be low of the policies.
Annual premium should be reasonable.
At some level Company should provide
information to the customers about the
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THANK YOU
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