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7/27/2019 A Comparative Study on Product of Bsli And
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PresentedBy
ROHIT jagtap
7/27/2019 A Comparative Study on Product of Bsli And
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TITLE
A COMPARATIVE STUDY ON
PRODUCT OF BSLI AND LIC
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PROBLEM STATEMENT
To analyze the Performanceevaluation of Birla Sun Life Insurance
products in comparison with Life
Insurance Corporation (LIC)
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OBJECTIVE
To determine and analyze the MarketPotential of the Birla Sun LifeInsurance Company in Navi Mumbai.
To study and determine the competitor(LIC) position in the market.
To find out why people like to take LICplans in comparison to Birla sun life
insurance plans. To analyze the customer satisfaction
regarding LIC and BSLI.
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HYPOTHESIS
Null hypothesis :
Birla product better than the LIC
product.
Alternative hypothesis:
Birla product are not better than LIC
product.
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SCOPE OF THE PROJECT
It gives information about the productof the company.
It helps to know whether the customer
are aware about the company andproduct offered to them by the
company.
It also helps in about companiesproduct.
The study also helps in understanding
the competitors of the company.
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LIMITATION OF THE PROJECT
This study provides the data for only
BSLI product. Two months time is not sufficient for
study of the topic.
The data collected is from secondary
source hence it is not 100% accurate.
There can be a chance of biasness inthe data selection.
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LITERATURE
Life insurance in India, author - HSADHAK,page no. 246
An evaluation of an individualsperformance that is based on the
difference between an individualsmeasurable output and an aggregatedamount of the same measurable outputobserved in a group of the individuals
peers. The main idea behind relativeperformance evaluation is that anindividual should not be held responsiblefor risks and factors beyond the controlof the individual.
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Compare product of BLSI &
LICBSLI PLAN
In BSLI plan policy termis 18 years less the ageof child at entryBSLIS SERAL JEEVANPLAN
In BSLI plan entry age is18-55 years
In BSLI min. premium is10000 p.a.
LIC PLAN
But in LIC plan policyterm is 5-25 yearsLICS SERAL JEEVAN PLAN LIC plan entry age is 12-60 years In LIC plan min.
premium is 5000p.a.
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Compare product of BLSI &
LICBSLI PLAN
BSLIs Retirement plan In BSLI plan min.
premium is 6000 p.a.BSLI Platinum plus plan In BSLI min. annual
premium is 50000p.a. Entry age in BSLI
Retirement plan is 18-70 years.
LICPLANLICs New JeevanSuraksha plan.
In LIC plan min.premium is 3000 p.a.LIC Market plus plan
In LIC plan premium is10000p.a. Entry age in LIC market
plus plan is 18-70 year
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BIRLA SUN LIFE INSURANCE COMPANY
LIMITED IS A JOINT VENTURE BETWEEN THE
ADITYA BIRLA GROUP, ONE OF THE LARGEST
BUSINESS HOUSES IN INDIA AND SUN LIFE
FINANCIAL INC., A LEADING INTERNATIONAL
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74%
26%
SHARE HOLDING PATTERN
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Type of company :joint venturewith sun life financial.
2.4 million customers. Distribution reach over 500citie
600plus branches.
239 partnerships with corporateagents banks .
The AUM is around $4.4billion
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REASONS FOR LOW PENETRATION OF
BIRLA SUN LIFE INSURANCE
There is no plan for the low income group. Fees for the advisor is higher than the othercompanies. Company does not penetrate on the rural market ata time. The company is facing major threats from LIC etc.
which is an government company.
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OPINIONS OF PEOPLE INSURANCE
SECTOR GOOD OR BAD
90%
10%
YES
NO
Particular
s
No. ofrespo
ndent
s
Yes 90
No 10
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Doyou think that investment in
BSLI is better than LIC ?
34%
66%YES
NO
Parti
culars
No. of
respondent
s
Yes 34
No 66
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IN NEAR FUTURE, DO YOU THINK
BSLI WILL HAVE HIGH GROWTH
RATE?
0%
5%
10%
15%
20%
25%
30%
35%
40%
AGREENETURAL
DISAGREECAN'TSAY
Series1
Particul
ars
No. of
respondent
s
Agree 20
Neutral 26
Disagree 14
Cant say 40
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FINDINGS
90 people saying that investment in insurancesector is good option and 10 are saying no.
20 people have BSLI policies and 80 have LICpolicy. 66 people are saying that investment in LIC is
better than BSLI, 34 are saying investment in BSLIis better.
26 people saying that BSLI growth will be neutralin near future.
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CONCLUSION
From the above study conclusion is derived thatpeople have more policies of LIC in comparison toBSLI.
People have more faith in govt. companies thanprivate sector Companies. So it is necessary for BSLI Co. that it Shouldpenetrate it's market in rural areasat a time Insurance sector is very wideand co. can grow infuture.
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RECOMMENDATIONS
Company should target each and every class ofthe society. Information regarding new product should beprovided to the customers. Charges should be low of the policies. Annual premium should be reasonable. At some level Company should provideinformation to the customers about the chargesof the policy.
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BIBLIOGRAPHY
BOOK REFERRED Risk Management Insurance - S.Arunajatesan
Indian Insurance - H. Narayanan
Life insurance in India - H SADHAK
http://www.insurance.birlasunlife.com/
http:// WWW.birlasunlifeinsurance.com/
www.lic.com/
http://insurance.birlasunlife.com/Pages/Individual/About-Us/Know-Our-Funds.aspxhttp://www.birlasunlifeinsurance.com/http://www.lic.com/http://www.lic.com/http://www.lic.com/http://www.lic.com/http://www.lic.com/http://www.lic.com/http://www.birlasunlifeinsurance.com/http://www.birlasunlifeinsurance.com/http://www.birlasunlifeinsurance.com/http://www.birlasunlifeinsurance.com/http://www.birlasunlifeinsurance.com/http://insurance.birlasunlife.com/Pages/Individual/About-Us/Know-Our-Funds.aspxhttp://insurance.birlasunlife.com/Pages/Individual/About-Us/Know-Our-Funds.aspxhttp://insurance.birlasunlife.com/Pages/Individual/About-Us/Know-Our-Funds.aspxhttp://insurance.birlasunlife.com/Pages/Individual/About-Us/Know-Our-Funds.aspx7/27/2019 A Comparative Study on Product of Bsli And
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THANK YOU