Front Pages Final 14-08-2012

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HR PRACTICES AND POLICIES OF HDFC LIFE

INSURANCE COMPANY LTD

AN INDUSTRIAL TRAINING PROJECT REPORTAT

HDFC LIFE INSURANCE

Submitted by

KRITI GUPTA

in partial fulfillment of the requirement for the award of the degree

of

MASTER OF BUSINESS ADMINISTRATION

IN

HUMAN RESOURCE MANAGEMENT

UNDER

PROFESSIONAL DEVELOPMENT ACTIVITY (PDA)

RESEARCH & DEVELOPMENT DIVISION

JAYOTI VIDYAPEETH WOMENS UNIVERSITY

JAIPUR

MAYJUNE (45 DAYS) & 2012


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ACKNOWLEDGEMENT

It is my pleasure to be indebted to various people, who directly or indirectly

contributed in the development of this work and who influenced my thinking,

behavior, and acts during the course of study.

I express my sincere gratitude to Mr. SANDEEP CHAUHAN for providing me

an opportunity to undergo Industrial Training at HDFC LIFE INSURANCE

COMPANY LTD.

I am thankful to Mr. SANDEEP CHAUHAN ( H.R HEAD )for her support,

cooperation, and motivation provided to me, during the training and for continuousinspiration, presence and blessings.

I also extend my sincere appreciation to PROF. PRABHA THOUDAM ( Dean ,

Faculty of Management ) who provided her/his valuable suggestions and precious

time in accomplishing my project report.

Lastly, I would like to thank the almighty and my parents for their moral support

and my friends with whom I shared my day-to-day experience and received lots of

suggestions that improved my quality of work.

KRITI GUPTA

Date: 25/June/2012

Place: GHAZIABAD


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Self-assessment of Industrial Training by the student

1. Name of Student: Ms. Kriti Gupta2. Name and address of Company / Industry : HDFC Life Insurance Corporation

Ltd.

3. Guide from Industry : Mr. Sandeep Chauhan ( H.R HEAD ).4. Date of commencement : 10th May To 25th of Industrial Training5. Number of days present 45days out of 45 days.


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DECLARATION

I KRITI GUPTA , student of M.B.A (HRM) studying in 3rd

(Trimester), hereby

declare that the Industrial Training report on HR PRACTICIES AND

POLICIES OF HDFC LIFE INSURANCE, CO. LTD. submitted to Jayoti

Vidyapeeth Womens University, Jaipur, in partial fulfillment of degree of M.B.A

is the original work conducted by me, at HDFC LIFE INSURANCE

COMPANY LTD.

The information and data given in the report is authentic to the best of my

knowledge.

This summer training report is not being submitted to any other place for award of

any other degree, diploma and fellowship.

KRITI GUPTA

Date: 25 -JUNE -2012

Place: GHAIZABAD


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EXECUTIVE SUMMARY

HDFC Standard Life insurance is the oldest life insurance company in the world. It is the largest

insurer in the UK and is the 28th largest company in the world. In India, the company ismarketing life insurance products and unit linked investment plans. From my research at HDFC

SLIC, I found that the company has a lot of competition from other private insurers like ICICI,

Aviva, Birla Sun Life and Tata AIG. It also faces competition from LIC. To compete effectively

HDFC SLIC could launch cheaper and more reasonable products with small premiums and short

policy terms (the number of years premium is to be paid). The ideal premium would be between

Rs. 5000 Rs. 25000and an ideal policy term would be 10 20 years .HDFC must advertise

regularly and create brand value for its products and services. Most of its competitors like Aviva,

ICICI, Max, Reliance and LIC use television advertisements to promote their products. The

Indian consumer has a false perception about insurancethey feel that it would not benefit them

if they do not live through the policy term. Nowadays however, most policies are unit linked

plans where a customer is benefited even if their death does not occur during the policy term.

Optimum returns of 16 20 % must be provided to consumers to keep them interested in

purchasing insurance. On the whole HDFC standard life insurance is a good place to work at.

Every new recruit is provided with extensive training on unit linked funds, financial instruments

and the products of HDFC


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CONTENTS

Sr. No. Topic Page. No.

1. INTRODUCTION OF THE TOPIC 1-2

2. OBJECTIVES OF STUDY 3

3. COMPANY PROFILE WITH TOPIC 4-26

4. RESEARCH METHODOLOGY 27-285. DATA ANALYSIS AND INTERPRETATIONS 29-35

6. FINDINGS 36

7. CONCLUSIONS 37

8. LIMITATIONS 38

9. SUGGESTIONS AND RECOMMENDATIONS 39

10. BIBLIOGRAPHY


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BIBILIOGRAPHY :

1. Books : Management, Identifying market segment and targets.1. Internet : Name of sight on net are : www.google.com http://www.IRDA .com (http://www.persmin.nic.in/) http://www.irdaindia.org/ins_ombusman.htm (URL:http://www.irdaindia.org/)
http://www.persmin.nic.in/http://www.irdaindia.org/ins_ombusman.htmhttp://www.irdaindia.org/http://www.irdaindia.org/http://www.irdaindia.org/http://www.irdaindia.org/ins_ombusman.htmhttp://www.persmin.nic.in/

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Front Pages Final 14-08-2012