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NIILM BUSINESS SCHOOL, BANGALORE

A PROJECT REPORT ON

ORGANIZATIONAL STUDY AT HDFC

STANDARD LIFE INSURANCE CO. LTD

SUBMITTED IN PARTIAL REQUIREMENTS FOR THE AWARD OFPGPBA (POST GRADUATE PROGRAMME IN BUSINESS

ADMINISTRATION) FOR THE ACADEMIC YEAR 2009 2010

SUBMITTED BY:

MOHD NAZAR

06NSB09026

NIILM SCHOOL OF BUSINESS

BANGALORE- 560025

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DECLARATION

I MOHD NAZAR declare that the project report entitled ORGANIZATIONAL

STUDY was done at HDFC SLIC at BANGALORE. It is the record of bonafide

study carried out by me, under the guidance of Mr. DINESH SODHA, Also under

the support and guidance of internal faculty Mrs Partiksha Raichura.

Place: Bangalore Name: MOHD NAZAR

Date: 15/1/2010 ENROL. NO. 06NSB09026

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CERTIFICATE BY INTERNAL GUIDE

This is to certify that MOHD NAZAR (06NSB09026) is a bonafide student of I

semester studying under the NIILM School of Business. He has prepared and

submitted a project report titled ORGANIZATIONAL STUDY, in partial

requirements for the award of PGPBA (Post Graduate Program in Business

Administration) in for the academic year 2009 2010.

Place: Bangalore Internal Guide: Mrs. PRATIKSHA RAICHURA

Date: 15/1/2010 NIILM School of Business

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ACKNOWLEDGEMENT

It gives me immense pleasure to express my deep sense of gratitude to thosepersons without whose guidance, co-operation, inspiration and suggestion it

would have been impossible for me to accomplish the project successfully.

I would like to thank Mr. DINESH SODHA, Channel Development Manager,

HDFC STANDARD Life Insurance Co. Ltd, for his kind guidance and

necessary support during the project.

I would like to thank Mrs. Pratiksha Raichura for his noble inspiration, keen

interest, constant supervision and ever willing help throughout the course of this

study.

With a deep sense of gratitude and humble submission, I express my gratefulness

to the entire team of HDFC SLIC, Bangalore, whose help, stimulating suggestions

and encouragement helped me in all the times of research.

Lastly, a heartfelt gratitude to all my fellow trainees for their constant support &

encouragement in the most difficult times.

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TABLE OF CONTENTS

Title Page No.

1. Abstract 07

2. Objective 08

3. Industry Profile 09

History of Insurance 10

Characteristic of Insurance 19

Advantage 20

4. Company Profile 22

Background 23

Vision & Values 23

Profile of Board of Directors 24

Key Strength 28

Promoters 28

Competitors 31

Product of Profile 32

Future Growth 36

Strategy 36

Awards and Development 37

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ABSTRACT

The main focus of the study is to identify the areas of Structures followed that

would help in the organizational development.

This study report aims at covering all aspects related to organizational structure.

This study was conducted at HDFC STANDARD Life Insurance, Bangalore.

The Structural questionnaire prepared for HR survey comprised

The demographic of the respondents, asking their name, designation,

qualifications and department in the company (Vice President, Senior HR

consultants, Business Development Executive), their tenure with the organisationand total experience.

The study covers all the research methods, company profile and evaluation idea. It

provides the mapping between the theoretical aspects, the practical view and

insight into the system practiced today in the organization.

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OBJECTIVES OF THE STUDY.

In this is competitive global world and increasing flexibility in the labour market,

recruitment is becoming more and more important in every business. Therefore,

recruitment serves as the first step in fulfilling the needs of organisations for a

competitive, motivated and flexible human resource that can help achieve its

objectives.

AS A TEAM FOR SUCCESS WE PLEDGED TO FOLLOW..........

TEAM WORK MEANS

MORE WE

LESS I

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INDUSTRY PROFILE

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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 for ever. 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 orbeneficiary of the asset, a certain sum if the loss occurs.

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PURPOSE AND NEED OF INSURANCE

Today, there is no shortage of investment options for a person to choose from.

Modern day investments include gold, property, fixed income instruments, mutual

funds and of course, life insurance. Life insurance is a unique investment that helps

us to meet our dual needs - saving for life's important goals, and protecting our

assets.

Life insurance is designed to protect us and our family against financial

uncertainties that may result due to unfortunate demise or illness.

Insurance need will change as our life does, from starting to work to enjoying our

golden years and all the stages in between. Each one of these stages may pose a

different insurance need/cover for us.

General Definition

In the words of D S Hansel, Insurance may be defined as a social device

providing financial compensation for the effects of misfortune, the paying being

made from the accumulated contributions of all participating in the scheme.

Characteristics of Insurance

Sharing of risk

Co-operative device

Evaluation of risk

Payment on happening of special event

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The amount of payment depends on the nature of losses incurred

Need of the Life Insurance

The original basic intention of life insurance is to provide for ones family and

perhaps others in the event of death. Originally, polices were to provide for short

periods of time, covering temporary risk situations, such as sea voyages. As life

insurance became more established. It was realized what a useful tool it was in a

number of situations, including:

Temporary needs threats:

The original purpose of Life Insurance remains an important element,

namely providing for replacement of income on death etc.

Regular saving:

Providing ones family and oneself, as a medium to long term exercise

(through a series of regular payment of premiums). This has been become more

relevant in recent times as people seek financial independence from their family.

Investment:

Put simply, the building up of saving while safeguarding it from ravages of

inflation. Unlike regular saving products are traditionally lump is investments,

where the individual makes are onetime payment.

Retirement:

Provision for ones on later years has become increasingly necessary.

Especially in charging culture abs social environment, one can buy a suitable

insurance policy which will provide periodical payments on ones old age.

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Sum contracts may allow the policy can be surrendered for a cash amount, if

policy holder is not in a position to pay the premium. A loan, against certain

policy, can be taken for a temporary period to tide over the difficulty. Presence of

life insurance policy facilitates credit for personal or commercial loans as it can be

offered as collateral security.

Tax relief:

The policy holder obtains income tax rebates by paying the insurance

premium. The specified from of saving which enjoys a tax rebate u/s 88 of the

income tax act. Include Life Insurance premiums and contribution to a recognized

PF etc.

History of the insurance in India

The insurance sector in India as come a full circle from being an open

competitive market to nationalization and back to a liberalized market again.

Tracing the developments in the Indian insurance sector reveals the 360 degree

turn witnessed over a period of almost two centuries.

A brief history of the insurance sector. The business of life insurance in

India in its existing form started in India in the year1818 with the establishment of

the Oriental life insurance Company in Calcutta.

Some of the important milestones in the life insurance business in India are:

1912: The Indian life Assurance Companies Act enacted as the first statuteto regulate the life insurance business.

1928: The Indian insurance Companies Act enacted to enable the

government to collect statistical information about both life and non-life insurance

businesses.

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1938: Earlier legislation consolidated and amended to by the insurance Act

with the objective of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies taken over by

the central government and nationalized. LIC formed by an Act of Parliament, viz.

LIC Act,

1956, with a capital contribution of Rs. 5 crores from the Government of

India.

The General insurance business in India on the other hand, can trace its roots

to the Triton insurance Company Ltd., the first general insurance company

established in the year 1850 in Calcutta by the British.

Some of the important milestones in the general insurance business in India

are:

1907: The Indian Mercantile insurance Ltd. set up, the first company to

transact all classes of general insurance business.

1957: General insurance Council, a wing of the insurance Association of

India, frames a code of conduct for ensuring fair conduct and sound business

practices.

1968: The insurance Act amended to regulate investments and set minimum

solvency margins and the Tariff Advisory Committee set up.

1972: The General insurance Business (Nationalization) Act, 1972

nationalized the general insurance business in India with effect from 1st January

1973.107 insurers amalgamated and grouped into four companies viz. the National

insurance Company Ltd., the New India Assurance Company Ltd., the Oriental

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insurance Company Ltd. and the United life insurance Company Ltd. GIC

incorporated as a company.

Insurance sector reforms In 1993, Malhotra Committee, headed by former

Finance Secretary and RBI Governor R.N. Malhotra, was formed to evaluate the

Indian insurance industry and recommend its

future direction.

The Malhotra committee was set up with the objective of complementing the

reforms initiated in the financial sector.

The reforms were aimed at creating a more efficient and competitive

financial system suitable for the requirements of the economy keeping in mind the

structural changes currently underway and recognizing that insurance is an

important part of the overall

Financial system where it was necessary to address the need for similar reforms

In 1994, the committee submitted the report and some of the keyrecommendations

Included:

i) Structure

Government stake in the insurance Companies to be brought down to 50%

Government should take over the holdings of GIC and its subsidiaries so thatthese subsidiaries can act as independent corporations

All the insurance companies should be given greater freedom to operate

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ii) Competition

Private Companies with a minimum paid up capital of Rs.1bn should beallowed to enter the industry

No Company should deal in both life and General insurance through a single

entity

Foreign companies may be allowed to enter the industry in collaboration

with the domestic companies

Postal life insurance should be allowed to operate in the rural market Only one State Level life insurance Company should be allowed to operate

in each state

iii) Regulatory Body

The insurance Act should be changed

An insurance Regulatory body should be set up

Controller of insurance (Currently a part from the Finance Ministry) should

be made independent

iv) Investments

Mandatory Investments of LIC life Fund in government securities to be

reduced from 75% to 50%

GIC and its subsidiaries are not to hold more than 5% in any company

(There current holdings to be brought down to this level over a period of

time)

v) Customer Service

LIC should pay interest on delays in payments beyond 30 days

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Insurance companies must be encouraged to set up unit linked pension plans

Computerization of operations and updating of technology to be carried out

in the insurance industry

The committee emphasized that in order to improve the customer services

and increase the coverage of the insurance industry should be opened up to

competition. But at the same time, the committee felt the need to exercise caution

as any failure on the part of new players could ruin the public confidence in the

industry. Hence, it was decided to allow competition in a limited way by

stipulating the minimum Capital requirement of Rs.100 crores. The committee felt

the need to provide greater autonomy to insurance companies in order to improvetheir performance and enable them to act as independent companies with economic

motives. For this purpose, it had proposed setting up an independent regulatory

body. The insurance Regulatory and Development Authority Reforms in the

insurance sector were initiated with the passage of the IRDA Bill in Parliament in

December 1999. The IRDA since its incorporation as a statutory body in April

2000 has fastidiously stuck to its schedule of framing regulations and registering

the private sector insurance companies. The other decisions taken simultaneously

to provide the supporting systems to the Insurance sector and in particular the life

insurance companies was the launch of the IRDA s online service for issue and

renewal of licenses to agents.

The approval of institutions for imparting training to agents has also ensured

that the Insurance companies would have a trained workforce of insurance agents

in place to sell their products, which are expected to be introduced by early next

year. Since being set up as an independent statutory body the IRDA has put in a

framework of globally compatible regulations. In the private sector 12 life

insurance and 6 general insurance companies have been registered.

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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

The success of insurance business depends upon the large number of people

insured against similar risk.

Insurance is a plan, which spreads the risk and losses of few people among a

large number of people.

The insurance is a plan in which the insured transfers his risk on the insurer.

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market rate. But in life insurance it is reverse. Sum Assured is guaranteed from the

beginning of policy and insured would know in advance that this amount of money

he will get after a certain period of time plus bonus declared by company time to

time.

The life insurance has the following additional advantages over other forms of

savings.

In the event of death, the heirs get the assured amount quickly as there is

always provision of nomination & assignment.

In this case, it is compulsion that it should continue till maturity or by thetime, the policyholder remains alive.

Creditors cannot claim the life insurance proceeds & the amount cannot be

attached by any court.

Life insurance policy avails of income tax relief & in capital gains.

Life insurance policy is actually a property & it can be transferred or

mortgaged. Loans can also be raised against it.

Unique advantages of life insurance are as under:

It provides family protection

Risks cannot be predicted & it helps the family, whenever any such

eventuality takes place

The terms of nature can be cruel sometime, but terms of insurance are

always easy

The value of human life is far greater than the value of property. Only

insurance can protect the family in such event.

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COMPANY PROFILE

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BACKGROUND

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 Development 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

VISION

'The most successful and admired life insurance company, which means that we

are the most trusted company, the easiest to deal with, offer the best value for

money, and set the standards in the industry'.

'The most obvious choice for all'.

VALUES

Values that we observe while we work:

Integrity

Innovation

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Customer centric

People Care One for all and all for one

Team work

Joy and Simplicity

Brief Profile of The Board of Directors

Mr. Deepak S. Parekh is the Chairman of the Company. He is also the Executive

Chairman of Housing Development Finance Corporation Limited (HDFC

Limited).

Sir Alexander M. Crombie joined the Board of Directors of the Company in

April, 2002. He has been with the Standard Life Group for 34 years holding

various senior management positions.

Mr. Keki M. Mistryjoined the Board of Directors of the Company in December,

2000. He is currently the Managing Director of HDFC Limited.

Ms. Marcia D. Campbell is currently the Group Operations Director in the

Standard Life group and is responsible for Group Operations, Asia Pacific

Development, Strategy & Planning, Corporate Responsibility and Shared Services

Centre.

Ms. Renu S. Karnad is the Executive director of HDFC Limited, is a graduate in

law and holds a Master's degree in economics from Delhi University.

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Mr. Norman K. Skeoch is currently the Chief Executive in Standard Life

Investments Limited and is responsible for overseeing Investment Process & Chief

Executive Officer Function.

Mr. Gautam R. Divan is a practising Chartered Accountant and is a Fellow of the

Institute of Chartered Accountants of India.

Mr. Ranjan Pant is a global Management Consultant advising CEO/Boards on

Strategy and Change Management.

Mr. Ravi Narain is the Managing Director & CEO of National Stock Exchange of

India Limited.

Mr. Gerald E. Grimstone was appointed Chairman in May 2007, having been

Deputy Chairman since March 2006.

Mr. Paresh Parasnis is the Principal Officer and Executive Director of the

company since November 14, 2008.

Bancassurance Partners

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JOINT VENTURE

HDFC Standard Life Insurance Company Ltd

HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august 2000. It is

a joint venture between Housing Development Finance Corporation Limited

(HDFC Ltd.) India and UK based Standard Life Company. Both the joint venture

partners being one of the leaders in their respective areas came together in

81.4:18.6 joint ventures, to form HDFC Standard Life Insurance Company

Limited. Mr. Deepak Satwalekar is the MD and CEO of the venture. HDFC

Standard Life brings to you a whole range of insurance Solutions be it group or

individual or NAV services for Corporations, they can be easily customized as per

specific needs.

HDFC Standard Life Insurance India boasts of covering around 27lakh lives by

March31, 2009. The gross premium income standing at a whopping Rs.5,

564.69crores. HDFC Standard Life Insurance Corporation is sure to become one ofthe leaders and the first preference for any life insurance customer.

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

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VISION STATEMENT

The most successful and admired life insurance company, which mean that we are

the most trusted company, the easiest to deal with, offer the best value for money,

and set the standards in the Industry. In short, The most obvious choice for all

Admired mean the company should be known for its standards. Not only

customers, but also the competing life insurance companies should benchmark

against HDFC SLI a nutshell, even the IRDA should give an example of

HDFC SL as a guiding principle.

Integrity

Innovation

Customer centric

People Care One for all

Teamwork

Joy and Simplicity

HEAD OFFICE AND 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

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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 tospecific needs. HDFCSLIC group solutions have been designed to offer us

complete flexibility combined with a low charging structure.

Track Record so far

Our gross premium income, for the year ending March 31, 2009 stood at Rs.5,564.69 crores.

As on March 31, 2009, the company has more than 27 lakh polices in force.

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.

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Rated AAA by CRISIL and ICRA

HDFC is Indias leading housing finance institution and has helped

build more than 23,00,000 houses since its incorporation in 1977.

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

Stable and experienced management

High service standards

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.

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HDFC Group Companies

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SECURITISATION

Future Activities

DISTRIBUTION

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COMPETITORS BY COMPANY

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http://www.iciciprulife.com/public/default.htmhttp://www.maxnewyorklife.com/index.aspxhttp://www.birlasunlife.com/BirlaSunLife/Insurance/BSLI_MP/index5.aspxhttp://www.inglife.co.in/home.aspx

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COMPARITIVE 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,

HDFC Youngstar offers Insurance Cover up to 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 up to 65 years Age

(as it Cheaper than other ULIPS).

The returns from HDFC Tax saver, HDFC LT Advantage fund are better

than the returns from HDFC Standard Life Equity Fund.

PRODUCT PROFILE

HDFC Standard Life offers a bouquet of insurance solutions to meet every need.

HDFC Standard Life, cater to both, individuals as well as to companies looking to

provide benefits to their employees. For individuals, a range of protection,

investment, pension and savings plans that assist and nurture dreams apart from

providing protection. Fororganizations 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 theemployees help in enhancing goodwill of the company.

INDIVIDUAL PRODUCTS

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HDFC Standard Life realizes that not everyone has the same kind of needs.

Keeping this in mind, they have varied range of products that we can choose from

to suit all our needs. These will help secure our future as well as the future of our

family.

Protection Plans

Protection plans protect our family against the loss of our income or the burden of

a loan in the event of our unfortunate demise, disability or sickness. These plans

offer valuable peace of mind at a small price.

Protection range includes:

A pure risk cover plan, which gives us protection against the uncertainties of life.

The HDFC Term Assurance Plan is an insurance policy that is designed to help

secure our family's financial needs.

Term Assurance Plan

Loan Cover Term Assurance Plan

Home Loan Protection Plan

Investment Plans

HDFC Standard Life provides you with attractive long term returns through regular

bonuses.

Investment range includes:

Single Premium Whole Of Life Plan

Single premium investment plan.

Pension Plans

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Pension Plans help us to secure our financial independence even after retirement.

Pension range includes:

Personal Pension Plan

Unit Linked Pension

Unit Linked Pension Plus

Savings Plans

Savings range includes:

Endowment Assurance Plan

Assurance Plan

Savings Assurance Plan

Childrens Plan

The HDFC Children's Plan gives us:

Money Back

Unit Linked Endowment Suvidha

The HDFC Unit Linked Endowment Suvidha gives us:

Unit Linked Endowment Suvidha Plus

Unit Linked Endowment Plus II

Unit Linked Young Star Suvidha

Unit Linked Young Star Suvidha Plus

Unit Linked Young Star Plus II

Unit Linked Enhanced Life Protection II

Simple life

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GROUP PRODUCTS

HDFC Standard Life has the most comprehensive list of products for progressive

employers who wish to provide the best and most innovative employee benefit

solutions to their employees.

Group Term Insurance

Employee benefits.

Cover for housing or vehicle loans given by us to our employees.

Group Unit-Linked Plan

An investment solution that provides funding vehicle to manage

corpuses with Gratuity, Defined Benefit or Defined Contribution

Superannuation or Leave Encashment schemes of your company

Also suitable for other employee benefit schemes such as salary saving

schemes and wealth management schemes

SOCIAL PRODUCTS

Development Insurance Plan

Development Insurance plan is an insurance plan which provides life cover to

members of a Development Agency for a term of one year. On the death of any

member of the group insured during the year of cover, a lump sum is paid to that

members beneficiaries to help meet some of the immediate financial needs

following their loss.

Premium Payments

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The premium to be paid will be quoted per member in the group and will be the

same for all members of the group. The premium can only be paid by the

Development Agency as a single lump sum that includes all premiums for the

group to be covered. Cover will not start until the premium and all the member

information in our specified format has been received. The premium rate is Rs.25

per Rs.10, 000 of lump sum, per member.

FUTURE GROWTH OF THE COMPANY

The future topics for research in the organization could be setting up of an

appropriate ad campaign. It is very vital to the companies success that the people

of India know about HDFC SLIC, its products and their special features and how

insurance in general can help them in their future. The advertisements have to be

emotionally appealing. They might also include a celebrity. The brand name of

HDFC could be used to give a push to HDFC SLIC and its products. The general

perception of insurance as inauspicious should be done away with and

individuals and corporations accept insurance on power with other investment

opportunities.

The other area of research could be in the management of funds HDFC SLIC

possesses and how it can maximize returns for its investors. A research project

could be undertaken on how to ensure that the money gets invested in the rightcompanies and earns a medium high return on investment. Another area of

research could be an analysis of the sales and marketing techniques used by HDFC

SLIC. A large number of changes could be introduced and this would help in

saving operating costs and improving the efficiency of the firm.

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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

leveraging investment management expertise and performance

driving for operational excellence

FINANCIAL STRENTH

Standard Life Investments assets held at 30 June 2006:

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

Worldwide insurance new premium income for full year at 31 December

2005:

INR 518,160,431,000 or 51816 Crores

AWARDS & DEVELOPMENT OF HDFC:

1977-HDFC is incorporated on October 17.

The brick that launched a Million Homes This is the actual brick used for

HDFC' s first brochure in 1978 and symbolises a part of the romance of creating a

visual identity of a new institution.

1978-

The first Housing Loan disbursed to Mr. D. B. Remedios at Bombay

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The first Public Issue of Equity Shares of Rs. 10 crores

1980

International Finance Corporation [IFC(W)] under its Investment Agreement

with HDFC disburses the first instalment of US$ 1 million from a Line of

Credit of US$ 4 million

1981

HDFC introduces its first retail Deposit Product

HDFC promotes a wholly-owned subsidiary, HDFC Developers

HDFC negotiates a guarantee of US$ 30 million from United States Agency

for International Development (USAID) under its Housing GuarantyProgram

The first external borrowing from USAID of US $ 20 million in the US

Capital Market

The first computer is installed at Head Office

1982

HDFC introduces the Line of Credit Product (LOC) for employee owned

housing

1983

His Royal Highness, The Aga Khan visits HDFC

Signing of the implementation agreement of Phase II of the USAID

programme.

1984

Annual loan approvals cross Rs. 100 crores

1985

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The Home Savings Plan based on the Bausparkassen model, West

Germany and the Step-up Repayment Facility (SURF) are introduced

1986

Our founder Chairman, Mr. H. T. Parekh and Mr. John Gunther Dean, the

then US ambassador to India, signs the USAID Housing Program

Agreement for the third and final tranche of US$ 15 million out of the US$

60 million

HDFC loan approvals cover 1,000 towns

1987

HDFCs first Equity Rights Issue

1988

HDFC Cricket team wins Times Shield - G Division

The Shelter Assistance Reserve is set up with an initial contribution of Rs.

50 lacs

World Bank approves US$ 250 million loan to HDFC

HDFCs cumulative loan approvals cross Rs. 1,000 crores

HDFC introduces Telescopic Loan Plan and Short Term Bridging Loan

products

HDFC in partnership with Indias leading financial institutions and

commercial banks promotes: Gujarat Rural Housing Finance Corporation

Limited (GRUH Finance), Housing Promotion and Finance Corporation

Limited (now SBI Home Finance), Can Fin Homes Limited and

Infrastructure Leasing and Financial Services (IL&FS), and the Credit

Rating Information Services of India Ltd. (CRISIL)

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1990

HDFC is awarded the United Nations

Scroll of Honour for Innovations in

Public-Private Partner ships to mobilise

household savings and to expand access

to families to market oriented housing

finance and services

HDFC, jointly with the United NationsCentre for Human Settlements (UNCHS)

promotes the Coalition of Housing Finance Institutions in Asia. Other

partner members are the Home Development Mutual Fund, Philippines, the

Government Housing Bank, Thailand and the Korea Research Institute for

Human Settlements

1991

HDFC relaunches its retail fixed deposit products

1992

Mr. H.T. PAREKH is conferred the Padma Bhushan by the Government of

India

Commonwealth Development Corporation (CDC) approves a loan of 25

million

1993

Mr. H.T. PAREKH is conferred the Padma Bhushan by the Government of

India

Commonwealth Development Corporation (CDC) approves a loan of 25

million

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1994

HDFCs first private placement of Equity Shares for Rs. 261 crores with

domestic institutions

HDFC introduces Non-Residential Premises Loans for Individuals.

1995

HDFC in strategic alliance with NatWest Markets (UK) promotes the HDFC

Bank which was inaugrated by Dr. Manmohan Singh, the Union Finance

Minister.

A joint venture with IL&FS and Colliers Jardine Asia Pacific Limited to

promote Colliers Jardine India Property Services Limited

Both ICRA & CRISIL awarded HDFC deposits AAA status reflecting the

highest standards of safety by their award of MAAA & FAAA

respectively.

1996

HDFC declared Best Managed Company for the

second year running this time jointly with Infosys

Technology by Asiamoney Magazine

HDFC opens its first international office at

Dubai, UAE

1997

HDFC Annual report is produced with a Corporate Profile on a CD-ROM.

HDFC, the first company in India whose equity shares were de-materialised

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Eicher consultancy selects HDFC as one of the ten best case study for

bench-marking

HDFC gets an Asian Development Bank (ADB) loan of US$ 100 million

HDFC promotes Delta Brac Housing Finance Corporation Limited, the first

private sector housing finance company in Bangladesh

1998

HDFC voted as the Best Managed company in India in a survey of 250

fund managers, world wide conducted by Asiamoney

HDFC in partnership with a South-based NGO launches the Indian

Association for Savings & Credit (IASC) a pioneering micro-finance

institution operating in the states of Tamil Nadu and Kerala

HDFC introduces Home Equity Loans and Corporate Employees Group

Finance Arrangement (CEFA)

1999

HDFC receives the IMC Ramkrishna Bajaj

National Trophy for Business Excellence the

first company to receive this award in the

Services category

HDFC invests in a new Housing Finance

company in Sri Lanka .

HDFC website www.hdfcindia.com launched (now hdfc.com)

HDFC the first housing finance institution to introduce the Adjustable Rate

Home Loans

2000

HDFC Standard Life Insurance Company Limited becomes the first private

insurer in India to obtain registration from the Insurance Regulatory and

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Development Authority (IRDA). Shri Yashwant Sinha, Union minister for

finance , inaugurates the new HDFC STANDARD LIFE Office in Mumbai

HDFC launches its first Property Fair

A joint venture with Mahindra & Mahindra group to promote

propertymartindia.com, a website to provide a range of real estate services

(renamed as HDFC Realty.com)

HDFC issues its first Mortgage Backed Securities.

Aquires entire shareholding of Hometrust Housing Finance Company

Limited. GRUH becomes a subsidary of HDFC

A joint venture with TCS to promote Intelenet Global Services Limited for

IT enabled services

A joint venture with Standard Life Investments to promote the HDFC

Mutual Fund

HDFC Securities launches retail broking services.

Renaming of the Road No. 3 at Backbay Reclamation as H. T. Parekh Marg

(where HDFCs head office is situated)

` 2001

HDFC, State Bank of India, Dun & Bradstreet and Trans Union International

Inc. (TU) promotes Credit Information Bureau (India) Ltd. (CIBIL)

HDFC figures in the Top 20 The Champions of Asian Business A poll

by Asiamoney of Asias Best Companies in the Asia Pacific Region

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HDFC features among the Top 10 Asias Best Managed Companies in the

category of Banking and Finance Euromoney magazine

2002

A joint venture with Chubb Corporation, USA to promote HDFC-Chubb

General Insurance Company Ltd. for non-life insurance

A group offer from HDFC for the benefit of its customers

HDFC Groups Asset base crosses Rs. 50,000 crores

2003

A joint venture with Chubb Corporation,

USA to promote HDFC-Chubb General

Insurance Company Ltd. for non-life

insurance

A group offer from HDFC for the benefit of

its customers

HDFC Groups Asset base crosses Rs. 50,000 crores

2004

HDFC signs US $ 200 million loan agreement with International Finance

Corporation (IFC), Washington.

The Economic Times Lifetime Achievement award for HDFC Chairman,

Mr. Deepak Parekh.

2005

HDFC wins the Economic Times

Corporate Citizen of the year award for

its longstanding commitment to

community development.

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HDFC Environment ad titled Tiger Claws wins the Gold Midas

Award at the New York Festival.

HDFC and Barclays sign long term BPO Contract. Barclays now holds

50% stake in Intelenet, the balance 50% resides with HDFC.

HDFC ranked the 5th Best Company to work for in India Business

Today

2006

HDFC Crosses Rs. 1,00,000 Crore in Home Loan Approvals

Padma Bhushan for HDFC Chairman Deepak Parekh

Ms. Renu Sud Karnad, Executive Director, HDFC receiving the

ICAI Award from Mr. P C Gupta, Hon'ble Union Minister of State

for Company Law Affairs.

ICAI confers gold shield to HDFC for 'The Best Presented Accounts'

Institute of International Finance hails HDFC's Corporate Governance

approach

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ORGANIZATIONAL STRUCTURE

ORGANISATIONAL STRUCTURE

46

MD & CEO

GM- Sales

and

Marketing

HOD -

IT HOD - Legal &

Secretarial

GM -Finance

& ActuarialGM- HR

GM

Operation

and

Underwriti

ng

Business

Head-North

Business Head-

South

HOD-Inst. Sales

HOD-Marketing

HOD-Sales

Training

HOD-Channel

Development

ZonalServicesManagers

Zonal

Managers

SalesZonal

Services

ManagersZonal

Managers

-Sales

Regional

Managers

Territory Managers

Branch Managers

HOD-Audit

Actuarial

Medical

Finance

Controller

HOD-HR

National

Training

Manager HR

HOD -Health

HOD -

OPERATION

HOD -Underwriting

Process

Sales

DevelopmentManagers

HOD-Accounts

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STRATEGY

How we will deliver our mission and vision

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Our strategy is to build valuable customer relationships with leading service and



opening new routes to markets



MARKETING STRATEGIE

MARKET CONDITION OF PRODUCT IN HDFC SLIC

When it comes to study the market condition of HDFC Standard Life Insurance, it

is quite easy to see that there is good demand for products, but the sales of Ulip

products are very good. The market share is about 65% with compare to their

competitor.

REASON FOR THEIR GOOD CONDITION:

Consultants hold on the market

When it comes for the case of market, there is a clear and complete hold of HDFC

SLIC Consultants.

Quality

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CHART SHOWING HIERARCHY OF MARKETING DEPARTMENT

SALES DEPARTMENT

Sales at HDFC Standard Life cover an array of activities. HDFC Standard Life

practices two types of sales channel. They are

Retail channel sales

Alternate channel sales

Retail channel sales

Retail channel sales are done through the help of financial consultant and sales

development managers. In this channel financial consultant plays a vital role in

selling the insurance policies in the market.

Alternate channel sales

Alternate channel sales comprises of direct sales .Direct sales taps database to

generate high quality leads for profitable business under direct sales these are

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ZONAL MANAGER

MANAGER TELECALLING

HOD

GM SALES & MARKETING

MANAGER TELECALLING

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create of recent campaigns as well as details such as database list, target audience.

Direct sales is done through the sales development managers (direct).

CHART SHOWING HIERARCHY OF RETAIL SALES DAPARTMENT

HIERARCHY OF ALTERNATE CHANNE SALES DEPARTMENT

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HUMAN RESOURCE DEPARTMENT

Human Resource Department has multiple goals. These include employee

competency development, employee motivation development and organizational

climate development. Employees require a variety of competencies to perform

different tasks or functions required by their jobs.

Human Resource Development is said to be the core of a larger system known as

Human Resource System (HRS), wherein Human Resource Development is

mainly concerned with providing learning experience for the people associated

with an organization through a behavioral approach adopting various processes..

The main functions of Human Resource Department are:

Recruitment

Staffing

Performance appraisal

Training need analysis

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Employee communication

Environmental regulations

House keeping

CHART SHOWING HIERARCHY OF HUMAN RESOURCE

DEPARTMENT

CHANNEL DEVELOPMENT DEPARTMENT

Role Profile Channel Development Manager

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Direct Responsibilities

(1) Team Building

Resource recruitment (Recruitment Consultant, Project Trainee).

(2) Training & Induction

Training program for the resources

Joint field work with resources

(3) Planning & Implementation of Lead Generation Activities

Minimum Business Opportunity Presentation per week

Road shows

Bottom Line Activity

(4) Resource Motivation and Drive

One vendor review meet per week(Channel Development Manager to

review)

One vendor meet per month( Area Manager Channel Development to

address)

(5) IRDA Training & Examination

Financial consultant 50 hours training tracking through recruitment

consultant

IRDA examination tracking through recruitment consultant

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(6) MIS & Documentation

Documentation of vendor contracts & payment modes

MIS on recruitment & licensing of financial consultant

CHART SHOWING HIERARCHY OF CHANNEL DEVELOPMENT

ADMINISTRATION DEPARTMENT

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The main functions of Training Department are:

Proper maintenance of all the equipment in the company such as printer,

scanner, fax machine, video conferencing equipment etc.

Keep record of stationery requirement in the various departments.

Tickets booking of the employee if they are traveling for the company

purpose.

Purchasing of the stationery items.

House keeping work.

CHART SHOWING HIERARCHY OF ADMINISTRATION DEPARTMENT

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LEGAL DEPARTMENT

The function of legal department is handling the legal issues of the company and

solves the issue. The legal executive duties to see that there should not be any

illegal work in the company premises .Legal executive has also duties like handle

the cases for the company if any cases are in the court.

CHART SHOWING HIERARCHY OF LEGAL DEPARTMENT

RISK MANAGEMENT DEPARTMENT

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Risk management is a structured approach to managing uncertainty related to a

threat, a sequence of human activities including: risk assessment, strategies

development to manage it, and mitigation of risk using managerial resources.

The strategies include transferring the risk to another party, avoiding the risk,

reducing the negative effect of the risk, and accepting some or all of the

consequences of a particular risk.

CHART SHOWING HIERARCHY OF RISK MANAGEMENT

DEPARTMENT

TRAINING DEPARTMENT

The main functions of Training Department are:

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Conduct the induction program on company requirement..

Training to the financial consultant every month.

Conduct the IRDA exam classes on regular basis.

CHART SHOWING HIERARCHY OF TRAINING DEPARTMENT

OPERATION DEPARTMENT

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The main functions of Operation Department are:

Verify the insurance policy application of the customers.

Maintain the file of the customers documents.

Login the application and inform to the concern department.

CHART SHOWING HIERARCHY OF OPERATION DEPARTMENT

AGENCY DAPARTMENT

The main functions of Agency Department are:

60

GRADUATE TRAINEE (GT)

OPERATION OFFICER

OPERATION EXECUTIVE

TEAM MANAGER

ZONAL OPERATION

MANAGER

ZONAL SERVICE MANAGER

BUSINESS HEAD

BRANCH OPERATION

MANAGER

HOD OF OPERATION

GM OPERATION

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Verify the financial consultant application form.

Feed the applicants data in to the computer

Maintain the file of financial consultants application

Keep proper record for the IRDA exam and inform to the concern

department.

Send daily report to the higher authority.

CHART SHOWING HIERARCHY OF AGENCY DEPARTMENT

MEDICAL DEPARTMENT

The main functions of Medical Department are:

Verify the medical information given by the customer in the insurance

application.

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AGENCY OFFICERS

OPERATION EXECUTIVE

TEAM MANAGER

ZONAL OPERATION

MANAGER

ZONAL SERVICE MANAGER

BUSINESS HEAD

BRANCH OPERATION

MANAGER

HOD OF OPERATION

GM OPERATION

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Inform the customer for the medical check-up.

Tied up with the hospital for the medical check-up and other medical related

issues.

Daily report to be submitted to the higher authority.

CHART SHOWING HIERARCHY OF MEDICAL DEPARTMENT

STYLE APPROACHED

HDFC STANDARD LIC approaches PARTICIPATIVE STYLE of leadership.

HDFC SLIC have highly effective groups comprises competent and motivated

members. HDFC SLIC members are encouraged in decision making and giving

feedback. When more people think about problem it is likely that a better solution

will be found. There will be less resistance to change because those who have

developed the solution will usually support its implementation.

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SHARED VALUES

VISION STATEMENT

The most successful and admired life insurance company, which mean that we are

the most trusted company, the easiest to deal with, offer the best value for money,

and set the standards in the Industry. In short, The most obvious choice for all

Admired mean the company should be known for its standards. Not only

customers, but also the competing life insurance companies should benchmark

against HDFC SLI a nutshell, even the IRDA should give an example of

HDFC SL as a guiding principle.

VALUES

Integrity

Innovation

Customer centric

People Care One for all

Teamwork

Joy and Simplicity

Organizational Goals

HDFC SLICs main goals are to,

Maintain its position as The most obvious choice for all in

insurance sector.

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Transform ideas into viable and creative solutions,

Provide consistently high returns to shareholders, and to grow through

diversification by leveraging off the existing client base.

To build valuable customer relationships with leading service and



opening new routes to markets



FINANCIAL POSITION OF HDFC SLIC IN FY 2008-09

HDFC Standard Life, one of the leading private life insurance companies in India

declared its annual results for the financial year ending March 31, 2009. The

company generated Total Business Premium Income of Rs. 5564.69 crores in

FY2008-09 registering a year-on-year growth of 15%. The growth was primarily

driven by the success of the company's initiative on structured sales processes

based on customer needs and their assessments.

Highlights of Financial Year 2008-09

Total Premium Income is up by 15% at Rs. 5564.69 crores as against Rs.

4858.56 crores in FY2007-08.

Renewal premium collected increased to Rs. 2913.58 crores from Rs.

2173.19crores in the previous year, registering a growth of 34%.

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Effective Premium Income (EPI) in respect of retail business increased by

5%, growing from Rs 2,425crores in 2007-08 to 2,552crores in 2008-09.

Alternate Channels, including bancassurance, contributed about 45% to the

Effective Premium Income (EPI).

A well balanced product portfolio with pension comprising over 40%

children plans around 25% and the remaining constituting protection and

savings plans,

Total assets under management increased to Rs. 10,595 crores, registering a

growth of 24% over FY2007-08.

Assets under management for the Group business have increased to Rs. 1075

crores, registering a growth of 12% over FY2007-08.

Company products and services are now available through a network of 595

offices serving over 700 cities and towns across the country. This is further

complemented by corporate agency relationships with public, private and

cooperative banks.

Strength of Financial Consultants reported year-on-year growth of 43% to

over 2,07,000 in FY2008-09 compared to 1,45,000 last financial year.

The sum assured in-force for 2008-09 was Rs. 57,158 crores as compared to

Rs. 45,743 crores for the previous year.

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SWOT ANALYSIS

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. SWOTstands

forstrengths, weaknesses, opportunities, and threats. Strengths and weaknesses

are internal factors. Opportunities and threats are external factors.

HSFC STANDARD LIFE

STRENGTH

Financial Expertise

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

RANGE OF SOLUTIONS

HDFCSLIC provides 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.

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TRACK RECORD SO FAR

HDFCSLIC gross premium income, for the year ending March 31, 2009 stood

at Rs. 5,564.69crores and new business premium income stood at Rs.

2913.58crores. The company has covered over 27Lakh policies year ending

March 31, 2009.

Domestic image of HDFC supported by Prudentials international image is

strength of the company.

Strong and well spread network of qualified intermediaries and sales

person.

Strong capital and reserve base.

The company provides customer service of the highest order.

Huge basket of product range which are suitable to all age and income

groups.

Large pool of technically skilled manpower with in depth knowledge and

understanding of the market.

The company also provides innovative products to cater to different needs of

different customers.

Large network branches which help the customer for the payment

Brand image, business experience and innovative products

The financial consultants are very selectively chosen have excellent

communication skills.

Service quality which is crux of their mission

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It is the fastest growing Pvt. Life Insurance Company in India.

WEAKNESS

High targets for financial consultants and for the sales departments.

Many competitors in the market offer same product by the title difference in the

premium brand and offerings.

Sustainable to risk associated with investments in money markets.

Try to catch middle lower people also.

Heavy management expenses and administrative costs.

Low customer confidence on the private players.

Vertical hierarchical reporting structure with many designations and cadres

leading to power politics at all levels without any exception.

Poor retention percentage of tied up agents.

OPPORTUNITIES

Health insurance and pension schemes, an estimated market potential of

approximately $15 billion.

Insurable population According to ING only 10% of the population is

insured, which represents around 30% of the insurable population. This

suggests more than 300m people, with the potential to buy insurance, remain

uninsured.

There will be inflow of managerial and financial expertise from the worlds

leading insurance markets. Further the burden of educating consumers will

also be shared among many players.

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International companies will help in building world class expertise in local

market by introducing the best global practices.

THREATS

Players like ICICI Prudential and Birla Sun Life 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. If the taxliabilities of the service can rises, the customer will have little money to

invest.

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.

Other Private Insurance Companies Also vying For the Same uninsured

Population.

Big Public Sector insurance Companies Like LIC India, National

Insurance Company Ltd, Oriented Insurance Ltd, New India Assurance

Company Ltd, And United Insurance Company Ltd. People Trust them and go

to them more.

Poaching of Customer by other companies.

Most People do not understand the need or are not willing to take

insurance policies in general

Balance Sheet as at March 31, 2009

FINANCIAL POSITION OF HDFC SLIC IN FY 2008-09

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HDFC Standard Life, one of the leading private life insurance companies in India

declared its annual results for the financial year ending March 31, 2009. The

company generated Total Business Premium Income of Rs. 5564.69 crores in

FY2008-09 registering a year-on-year growth of 15%. The growth was primarily

driven by the success of the company's initiative on structured sales processes

based on customer needs and their assessments.

Highlights of Financial Year 2008-09

Total Premium Income is up by 15% at Rs. 5564.69 crores as against Rs.

4858.56 crores in FY2007-08.

Renewal premium collected increased to Rs. 2913.58 crores from Rs.

2173.19crores in the previous year, registering a growth of 34%.

Effective Premium Income (EPI) in respect of retail business increased by

5%, growing from Rs 2,425crores in 2007-08 to 2,552crores in 2008-09.

Alternate Channels, including bancassurance, contributed about 45% to the

Effective Premium Income (EPI).

A well balanced product portfolio with pension comprising over 40%

children plans around 25% and the remaining constituting protection and

savings plans,

Total assets under management increased to Rs. 10,595 crores, registering a

growth of 24% over FY2007-08.

Assets under management for the Group business have increased to Rs. 1075

crores, registering a growth of 12% over FY2007-08.

Company products and services are now available through a network of 595

offices serving over 700 cities and towns across the country. This is further

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complemented by corporate agency relationships with public, private and

cooperative banks.

Strength of Financial Consultants reported year-on-year growth of 43% to

over 2,07,000 in FY2008-09 compared to 1,45,000 last financial year.

The sum assured in-force for 2008-09 was Rs. 57,158 crores as compared to

Rs. 45,743 crores for the previous year.

Findings

Motivated workforceParticipative management

Weekly team meeting among executive

High performing employees have clear opportunity for growth

Finance department is centralize and all the finance related work is operated from

head branch Mumbai.

Company should come up with branch in the rural areas. With objective and goals

to meet the demand and expectations of the public.

As the people think that insurance is a tool to protect their family & a tax saving

device. They are aware of the fact & realizing its, importance. The company

should try to expand & buildup with infrastructure because there is a large

potential for insurance in India.

SUGGESTIONS

The suggestion section contains some of the inputs given by me from the

observation made during the internship.

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Recruit more number of financial consultants.

Company should introduce attractive offers to draw the attention of customers.

Educating the potential customers about the HDFCSLIC products and focus on,

how trust worthy and useful are these products.

Procedure of availing loans on the policy should be made easier on insurance

policy.

RECOMMENDATIONS

The insurance companies should now try to identify the gap between current level

of customer service and customer expectation .some of the strategies being

recommended are as follows:

Product differentiation: Offering a product that is distinctly different from other

products available in the market.

Innovativeness: Identifying a delightful customer experience.

Riders: These are additional offerings along with the main product.

Proper policy documentation: Wrong interpretation\non-awareness of policy

document by the customer may have the serious implication in the long term.

HDFC Standard Life Insurance Company Ltd. is one of the best insurance

company in India. All members are striving towards even more betterment of

the company whole-heartedly. The company intends to see its efficiency and

quality through customer services and satisfaction. With the creative and

innovative culture of the company it has been successful in creating a very

good image in the minds of the customers.

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Personally speaking it was my pleasure being with company for period of 4 weeks.

I had an opportunity to learn about the recruitment of financial consultant,

working of different departments in the organization, and the knowledge

about the insurance industry and the products of the company.

CONCLUSION

HDFC Standard Life Insurance Company Ltd. is one of the best insurance

companies in India. All members are striving towards even more betterment

of the company whole-heartedly. The company intends to see its efficiency

and quality through customer services and satisfaction. With the creative and

innovative culture of the company it has been successful in creating a very

good image in the minds of the customers.

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

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 brim of increasing its client through its attractive schemes

and offer.

Insurance was considered as unsought good which require hard core selling, but in

changing trend in income and people becoming financially literate, the demand for

insurance is increasing day by day. So, it is the company that first approaches gets

its share of reward. Proper after sale service can help the advisors to generate more

business. Gradually people are realizing the fact that insurance is not a necessaryevil but means to attain worry free life.

There is tough competition ahead for the company from its major competitors in

terms of number of Financial Consultants.

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Personally speaking it was my pleasure being with company for period of 8 weeks.

I had an opportunity to learn about the Organizational structure, functions of

all departments and the system followed in selection and recruitment of

financial consultant, working of different departments in the organization, and

the knowledge about the insurance industry and the products of the company.

LEARNING EXPERIENCE

It was a good experience working in a large organization like HDFC SLIC. I came

to know how the various departments work in an organization. The employees are

very cooperative and I came to know many things about corporate working. It also

helped to get first hand information about growth and future plans.

LEARNING IN THE ORGANISATION

Understanding and adjusting to the work environment.

All the employees are much dedicated towards their work.

Organizational structure.

Functions of different departments.

System followed in the organization.

Time management.

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BIBILIOGRAPHY

TEXT BOOKS:-

IC-33 LIFE INSURANCE

Organizational Behaviour:- K. Ashwatappa

WEBSITES:-

www.hdfcinsurance.com

www.irdaindia.org

http://uk.group.standardlife.com

www.licindia.com
http://www.hdfcinsurance.com/http://www.irdaindia.org/http://www.hdfcinsurance.com/http://www.irdaindia.org/

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