Comparison of traditional insurance products to ULIPs and.pptx

7/30/2019 Comparison of traditional insurance products to ULIPs and.pptx

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By

Siva sankar g

1225112247


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Insurance Industry overview

Company introduction

Need of the study

Objective of the study Research design

Findings

Recommendations


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The sector facilitates long-term funds forinfrastructure development and simultaneouslystrengthens the risk-taking ability of the country.

Over the past few years, many foreign insurancecompanies have ventured into the Indian

Life insurance penetration in India is about 4 percent of the countrys gross domestic product(GDP)

Indian life insurance sector collected newbusiness premiums worth Rs 11,742.7 crore (US$1.92 billion) for April-May 2013.


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HDFC Life, one of India's leading private lifeinsurance companies, offers a range ofindividual and group insurance solutions.

HDFC Ltd. holds 72.37% and Standard LifeLtd. holds 26.00% of equity in the jointventure.

Key strengths:

Financial expertise Ethical values

Range of solutions


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Comparison of different products gives us theperformance of different variety of products

With the increasing new players with stiff

competition the company should come outwith innovative products

Company should analyze their differentproducts, and should get a real feedback

from customers.


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To analysis the product details of HDFCStandard life Insurance Company limited.

To find Points of Parity and Points of

Difference ofdifferent products from HDFClife.

To find out factors that influence customersto purchase insurance policies and give

suggestions for further improvement.


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Data collectedo Primary sources: questionnaire, interview with the

client

o Secondary sources: company brochures, internet,

books, etc.

Samplingo Sample size-200

o Sampling technique- simple random technique


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The analysis of the data collected is done byusing the simple statistical techniques.

Some of the analyzed data in the graphical

form:

1. Which type of product you would like to

take for your further investments?


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0

10

20

30

40

50

60

70

80

Product which gives security for money product with more returns both

5.Which type of product you would like to take for your further investments?


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2. What do you feel, Money invested in

secure products?

0

5

10

15

20

25

30

35

40

45

50

Stagnated for long term gives good returns for future can be used for protection

9.What do you feel, Money invested in secure products?


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The overall respondents were willing to investfor a long term and in the traditional plansconsidering that would give them security fortheir investment and better investments.

From the age group of the respondents we cansee that most of the young age people near 30swere who could bear risk also want somesecurity for their money.

And from the survey we can see that HDFCs

products are not so aware in the market and thecompany should look into its advertising andpromotion part to make the customer aware ofits products.


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More hybrid products

Better services

Customer awareness

Simplified products Better promotional aspects

Policy premiums


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From the study we come to know that mostof the respondents are willing to invest forthe long term hoping of better returns.

With more no of competitors in the insuranceindustry, new innovative products arepenetrating into the market.

So we can conclude that the insurance

industry with a calculated risk gives higherreturns.

Documents

Comparison of traditional insurance products to ULIPs and.pptx