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SUMMER TRAINING REPORTON

“CHANNEL DEVELOPMENT AND STUDY OF

AWARENESS LEVEL OF ABOUT COMPANY ANDITS PRODUCT”

SUBMITTED TO:Kurukshetra University, Kurukshetra in Partial Fulfillment for the

Degree of Masters in Business Administration(Session 2006-2008)- MBA 3rd Semester

Under Supervision of: Submitted ByMs Shurbi Makkar Vijay GargFaculty of MBA S\o Sh. RajenderKumar

Univ. Reg. No 03-GJ-121

Tilak Raj Chadha Institute of Management And Technology

(Affiliated to Kurukshetra University, Kurukshetra and Approved By AICTE)MLN College Educational Complex, Yamuna Nagar- 135001 (Haryana)

Ph. 01732-220103,234110. Fax: +91-1732-220103

E-mail: [email protected], Web Site: www.timt.ac.in

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http://www.hdfcinsurance.com/index.htm



TABLE OF CONTENTS

1) Certificate from the organization2) Certificate from the Institute supervisor

3) Executive summary

4) Introduction

i) Profile of the study(Area\Organization)

ii) Justification of the Study

iii) Organizational Structure

5) Objectives of the Study

6) Literature Review

7) Research Methodology and Analytical tools

a. Sampling and Sampling Design

b. Analytical Tools

• Statistical Tools

c. Data Collection

d. Hypothesis Testinge. Limitations of the Study

8) Results and Discussions/ Findings

9) Recommendations/Suggestions.

10) Policy Implications

11) Bibliography

12) Annexure

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PREFACE

“PRACTICAL TRAINING IS FAR BETTER THAN ROOM TEACHING ”

Practical training gives a feel of the actual difficulties faced during the work. As part of

our summer training, we got an opportunity to work with HDFC SLIC Ltd.

Life Insurance is a mile stone in growth to the social life of the countrymen. For millions

of India’s working families, may owning a home have a dream to buy a Insurance Policy

to secure their and their children future. Our nation’s greatest opportunity now is the

chance to build a better life for our people. Recognizing this, the insurance sector has

now been regarded as a potent engine to economic growth.

The government has outlined a substantive and detailed plan, seen first in the policy of

insurance plans, to reach this goal. Many incentives announced in the Union Budget

every year have helped to improve the affordability enormously over the past couple of

years.

All this has led to an enormous increase in the demand for Life Insurance and thus, in the

banks/ institutions providing this finance. The present scenario has led to the steadyevolution of especially Life Insurance with different return plans for different age group

of people.

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ACKNOWLEDGEMENT

I am sincerely thankful to Prof. (Dr.) R.k. Garg, Director , Tilak Raj chadha

Institute of Mgt. &Tech,Yamuna Nagar, for giving me an opportunity to work at

HDFC Standard Life Insurance Company Ltd. and provided me the guidance

and support in the completion of the project .

I would also like to express my thanks to Ms. Surbhi Makkar, Faculty, TIMT,

Yamuna Nagar (Haryana) for her kind co-operation & valuable guidance

throughout the training.

I would like to express my sincere thanks to Mr. Rahul Jain (Sales

Development manager ) and Mr. Subodh Gupta (Branch Sales Manager ) of

HDFC Standard Life Insurance Co. Ltd. for assigning me the project and guiding

me whenever necessary.

(Vijay Garg)

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DECLARATION

I, Vijay Garg, Roll No.1190, MBA (3rd Sem) of the Tilak RajChadha Institute Of

Mgt.&Tech.(TIMT),Yamuna Nagar (Haryana) hereby declare that the Summer

Training Report entitled “CHANNEL DEVELOPMENT & STUDY OF

AWARENESS LEVEL OF PEOPLE ABOUT COMPANY AND

ITS PRODUCT” is an original work and the same has not been submitted to any

other Institute for the award of any other degree.

A seminar presentation of the Training Report was made on CHANNEL

DEVELOPMENT & STUDY OF AWARENESS LEVEL OF PEOPLE ABOUT

COMPANY AND ITS PRODUCT and the suggestions as approved by the faculty were

duly incorporated.

Presentation In-charge Signature of the candidate(Faculty)

Countersigned

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EXECUTIVE SUMMARY

The objective of this project was to assist HDFC Standard Life Insurance in

expanding their channel by recruiting Tied Agents For the company. For the

company to successfully continue its operations, it needs to undergo change to get

some new customers and to get some new ideas. Moreover insurance is such a

growing sector that it has full potential to have new customers. so it very essential

to have new people in the system which can add new customers to the company.

This was achieved through a three pronged efforts.

1. To know about the financial position of the company.

2. To know the Current market position of the company’s product.

3. To know the impact of Advertisement HDFC for insurance.

4. To know the preference of the customers.

5. To invite suggestions from the customers for improvement of HDFC SLIC Ltd.

6. To compare the HDFC SLIC Ltd. with the private player of the insurance.

7. To know about the customers awareness regarding the company.

For the study of market awareness in the mind set of people in Delhi about

the HDFC SLIC Co. Ltd., we were focused on the people of different profile. That

is why, we could find out the actual position of the company in the market

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according to the people. We had gone to defense people, C.A.’s, house wives,

self employed people, service people, young people searching for jobs etc.

SWOT ANALYSIS OF HDFC SLIC Ltd.

S- Strength

W- Weakness

O-Opportunity

T- Threat

HDFC SLIC Ltd. Is one of the most powerful, world class life insurance companygaining appreciation for their strong ethics excellent performance, professionalism andteam work which led them to progress in today’s challenging environment though withits excellence performance and every efforts has been make to present the most authenticand truly representation findings, but same deviation and hurdles in progress. So with itsStrength and good quality, the company is having some weakness and threats andopportunities. SOWT analysis is explained below:

STRENGTH• HDFC SLIC is the largest private player in the insurance industry in India

• Excellent services

• Customization of products as per customer’s needs

• Brand image

• Business experience

• Story financial base

• Innovative products, technology, organization culture and climate

• The company has a large network of branches which is helpful to customer for

the payment.

WEAKNESS• Lot of competitors are in the market offer same product offered by the

difference in the premium and offering

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• Target only higher income group whereas other companies are trying to catch

middle class people

• Higher premium as compared to other companies

• Clients face problem to get insured due to large no. of formalities

• High targets for financial advisors and for the sales departments

OPPURTUNITIES• Huge market literally untapped out of estimated 320million insurable market

only 20% of the population is insured

• In a conservation society of India where people are most inclined towards

risks free investment such as bank FD’s and saving rather than equity andhigh risk investment insurance offer the best of both worlds- the security withhigh returns

• In the pension field where people want good life after their retirement

•Indian people are more emotional towards their that’s why children plans raeselling like hot cockes

• Health insurance and pension schemes are estimated market potential of

approximately $15

THEARTS• Weak perception of private players in the mand of Indian people due to

frequent financial scans

• Large number of insurance player existing wrong business practices of

companies like LIC 1st premium is paid by their agents where as IRDAsuggests that even forms to be field by the clients themselves

• Player like ICICI and others with low premium for the similar plans

• Entry of many other private companies with equally strong experience and

financial strength of foreign paryners making the competition difficult andsaturating the urban market

• LIC has woken up from sleep and is following competitive strategies. Its huge

surplus in life fund given a capability to lodge price war

• For the insurance sector , goal set the authority that is IRDA which is

undertaken to track record of all the companies and change the roles day by

day more rigid which is very difficult for the company.

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INTRODUCTIOINTRODUCTIO

NN

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ABOUT HDFC GROUP

ABOUT HDFC

Helping Indians experience the joy of home ownership. The road to success is a

tough and challenging journey in the dark where only obstacles light the path. However,

success on a terrain like this is not without a solution.

As we found out over two decades ago, in 1977, the solution for success is

customer satisfaction. All you need is the courage to innovate, the skill to understand

your clientele and the desire to give them your best.

Today, over a million satisfied customers whose dream we helped, stand

testimony to our success. Our objective, from the beginning, has to enhance residential

housing stock and promote home ownership. Now, our offerings range from hassle-free

home loans and deposit products to property related services and a training facility.

We also offer specialized financial services to our customer base through

partnership with some of the best financial institutions worldwide.

Background

HDFC was incorporated in 1977 with the primary objective of meeting a social

need- that of promoted with an initial share capital of Rs. 100 million.

Business Objectives

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The primary objective of HDFC is to enhance residential housing stock in the

country through the provision of housing finance in a systematic and professional

manner, and to promote home ownership. Another objective is to increase the flow of

resources to the housing sector by integrating the housing finance sector with the overall

domestic financial markets.

Organizational Goals

HDFC’s main goals are to a) develop relationship with individual households, b )

maintain its position as the manner as the premier housing finance institutions in the

country, c) transform ideas into viable and creative solution, d) provide consistently high

returns to shareholders, and e) to grow though diversification by leveraging off the

existing client base.

MISSION

We at HDFC standard life have a very simple purpose behind all that we do-customer

satisfaction. If we can offer you value for your money, if we can fulfill your needs with

innovative life insurance products and can delight you with superlative service, we will

believe we are a success.

Values

Underlying every product we offer, every service we render is an ethos of security, trust

and innovation.

• Security : We would like to keep the customer financially secure in the long term.

• Trust : The customers confidence in us is our most valuable asset. We will live up

to it by managing. The customers funds carefully and wisely.

• Innovation : The customers needs are special and unique. innovative fulfillthem.

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Our Group Companies:

HDFC Limited

HDFC Bank Limited

HDFC Asset Management Company Limited

HDFC Securities Limited

HDFC Realty Limited

HDFC Chubb General Insurance Company Limited

HDFC Standard Life Insurance Company Limited

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About HDFC Standard Life Insurance

HDFC Standard Life Insurance Company Limited is a joint venture between

India’s leading housing finance provider, HDFC and Europe’s largest mutual life

assurance company, the Standard Life assurance company, U.K. both companies are

extremely strong financially with HDFC having been rated ‘AAA’ by CRISIL and

Standard Life rated ‘AAA’ by standard and poors. “A company rated ‘AAA’ has

extremely strong financial security characteristics” according to standard and poors. Both

companies are known for making available the highest level of service to all their

costumers and consultants.

HDFC founded in 1977 has grown to be a leader in housing finance and now has a wide

branch network spread across the country. Standard life has the experience of having

been in the Life Insurance business since 1825. HDFC standard life insurance company

was founded on 14th august 2000 and received a license on 23rd October 2000. It was the

first life insurance joint venture in India to get a license from the IRDA. Core values of

the new company are “SERVICE, TRUST AND INNOVATION” and we at HDFC

Standard Life are committed to providing top quality service to lour esteemed consultants

and customers.

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About the marketing strategy

The study of the survey shows that there are a lot of possibilities in the market for

standard life insurance products due to their unique features. To get the benefit of this

opportunity the company should consider the following points.

• The study shows that there is less awareness for the company’s plans in market.

So it is suggested to the company to make aware about its planning and insurance

products.

• The executive or management should focus on the poor people also and should

place the policies affordable, at the present minimum amount of the policy

premium is 5000, which poor people can not afford.

• Company should recruit new agents or consultants. It is necessary for company to

trend them in a well manner therefore they will gave good results.

• Company should open costumer service point in rural areas and small city also.

• Company should make plans for promotion of company business lit should

organize road shows seminars, exhibition or contests because these things make a

clear picture of company’s plans.

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Justification of the study

Channel development is an

important aspect of most of the organization. Here most of insurance companies are dependent on the channel. Basically

insurance companies are related with the direct selling of the

insurance policy. In the present scenario, every insurance company

give the good competition to each other. I gained to the selling

experience with the help of this topic . Basically insurance company

so much dependent on its channel . More the channel more the

policy sold and by which earn more benefits also. Channel also help

to provide the better service after sale by which company became

more loyal among the people.

Channel is the vein of the insurance company as

the vein are important for human body same role of channel in the

insurance company. So I choose this project during my summer training .I

gained lot of experience with the help of channel development.

In making the financial consultant, I enjoyed very

much because in this case to study the perception of the people what they want

,How much work should be given to the company, They are important or not

.Same case happened with Fc, how to sale the policy to the people . During the

summer training I found that it not the easy task to take people in the new

business. They came only when they found something for them.

Overall I got lot of experience with the help channel

development. I also recruit 9 person for the part time job that is financial

consultant. I was satisfied with my training project because I gained theexperience of direct selling.

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ALLIANZ BAJAJ INVESTGAIN

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Zonal Manager

Regional Manager

Branch Manager

Assistant Branch Manager

Sales Team Manager

Insurance Care Manager



ORGANISATION STRUCTURE

Central Office

Zonal Office

Regional Office

Branch Office

Office1 Office 2

Office 3

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OBJECTIVES

OF

THE STUDY

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Channel development procedure has a great importance in every

organization. In the insurance sector it means recruitment of advisors (agents).

So that company can maximize its sale. For every insurance company these are

only advisors who sell the final product of the company. Therefore sale of the

company is directly proportional to the length of the channel that is number of the

advisors. So amongst the various important objectives of the project, one was

“Channel Development”.

The other main objectives of the research done for the company were:

1 to find the perception of the people about the company,

2 to find the awareness level of the people about the company and its

products,

3 to know about the competitors position,

4 for what purpose people take life insurance policies,

5 to increase the company’s database of prospects,

6 to know about the people who do not have any information about the,

private players in the life insurance sector so that company can tap those

segments also,

7 to know that how much people are interested in working with the

organization.

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LITERATURE

REVIEW

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1 Belch George E and Belch Michael A ,”Advertising & promotion”,

Sxth Edition ,Tata McGraw Hill ,New Delhi, Pp-166-169

I read on the topic” advertisement and promotion” How to made the

advertisement effective by which sales of the policy increase.

2 Batra Rajeev, Myen John G , Aaker David A “Advertising

management”, Fifth Edition, Prentice-Hall India ,New Delhi. Pp-174-179

I study from this book about the segmentation and positioning of the

customer on the basis of their need and demand.

3 Mishra M N ,”Sales promotion and Advertising management”,

Second Edition , Himalya Publishing House , New Delhi, pp:1-2

From this book I read the topic on the personal selling of the poliy or any

type product. How make it easy and effective.

4 Baack Clow, “Integrated advertising, promotion & Marketing

communication”, Third Edition, Prentice hall, New Delhi,P p:85

I take the communication way from this book. How to make it more

effective.

5. Jain N c , Jain Saakshi, ”Marketing management” ,First

Edition, Aitbs Oublication, New Delhi, Pp –115

With the help of this book I got marketing information on the basis of

which I search about the information of the customer.

6. Czinkota kotabe,” Marketing management”, Second Edition,

Thomson- south Western, Pp-156

I study on the topic that is estimating the market demand that

means how ted part time many person wanted the part time job.

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7 . Kotler Philip & Keller Kevin lane,” Marketing management”, 12 th

Edition PEARSON(Prentice Hall) ,Pp-297

With the help of this book I learnt how to make the strong brand

building among the people so that become the loyal customer of the company.

8. Hooda R P ,”Statistics Introduction”, 1st Edition , Mcmillan India

Ltd., New Delhi, Pp-42-43

I study about the statistical tool so that result of the finding interpretate in

the well way whether they are relevant or not.

9 Jain T R,Aggarwal D. S.C” Statistics for MBA”,2nd Edition,VK

(India) Enterprises,New Delhi. Pp 2-3

I read out about the correlation how to apply on which factor and how do

the interpretation of the finding.

10 . Kothari, C.R., Research Methodology, New Age International (P)

Limited, New Delhi,(2005) , Pp30-35

With the help of this I designed my sample size of my project so that

it became more relevant to the objective.

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.11. Study Material of HDFC STANDARD LIFE

What is insurance?

In the simple words Insurance is a financial service for collecting the savings of

the public and providing them risk coverage. This risk may be certain events like

death, retirement, pension, education, marriage, etc. or uncertain events, like

theft, accident, fire, ill-health, etc. . This will constitute voluntary involvement in

savings, but turn into compulsory or forced savings through contractual

obligation.

. Premium from those who do not suffer the loss are used to as benefits to those

who do. The insurance firm is contractually obligated to make the benefits

payments. If premium revenues are not sufficient to cover losses, the firm must

make up the difference out of capital.

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Characteristics of insurance:

Every insurance contract has the followings characteristics:

1 Transferring or shifting of a risk from one individual to a group

2 Sharing losses on some equitable basis, by all members of groups

2 Insurance does not eliminate or decrease the uncertainty for the

individual as to whether or not the event will occur, not does it alter the

possibility of occurrence, but it does reduce the extent of financial loss

connected with the event.

3

12. Principles Of Insurance (INSURANCE INSTITUTEE OF INDIA)

Categories of insurance:

There are mainly two categories of insurance:

1 Non life insurance:

Basically in this we include health and general insurance. GIC was set up by

nationalizing the non-life business of insurance sector in 1972. The GIC operates

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as the holding co. of its four subsidiaries, namely

1 National Insurance Company Ltd.

2 The New India Assurance Company Ltd.

3 The Oriental Insurance Company Ltd.

4 United India Insurance Company Ltd.

2. Life insurance:

Life Insurance was there in India since 1818 carried by private and foreign

insurers. In 1956, LIC act was passed under which life insurance was

nationalized and LIC was set up by taking over the business of about 245 large

and medium companies doing business of life insurance. LIC has regional and

zonal offices, in addition District and Taluka units. In all districts, rural and semi

urban areas are covered by the LIC offices. LIC has a monopoly of life business.

It has set up the LIC mutual fund for mobilizing savings of the public, particularly

from rural and some urban areas and provides a good return to investors.

13. www.irda.org.

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http://www.irda.org/




The IRDA Act:

The Indian parliament assed the IRDA Act on December 7, 1999. The authority

consists of a chairperson and several whole time and part time Directors to be

appointed by the Central government, on the basis of their exposure to and

experience in the field of life/general insurance, actuarial science, finance,

economics, law, accountancy and administration etc. It started entertaining

application from the companies intending to enter into the insurance business in

India from august 2000.

The mission of IRDA is to protect the interests of the policyholders, to

regulate, promote and ensure orderly growth of the insurance industry and for

matters connected therewith or incidental thereto.

Composition of Authority under IRDA Act, 1999

As per the section 4 of IRDA Act' 1999, Insurance Regulatory and Development

Authority (IRDA) which was constituted by an act of parliament) specify the

composition of Authority

The Authority is a ten member team consisting of

(a) a Chairman;

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(b) five whole-time members;

(c) four part-time members,

Advisor

An insurance advisor is a licensed agent with the IRDA who receives or agrees

to receive payment by the way of commission or other remuneration in

consideration of his soliciting or procuring insurance business, including

continuance, renewal or revival of policies.

.

Conditions to be satisfy to become an advisor:

The applicant should satisfy the following condition if he applies for a license to

be an insurance agent:

1 He should furnish the application for a license complete in all respects

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2 He has the requisites knowledge to solicit and procure insurance

business

3 He is capable of providing the necessary service to the policy-holders.

1

2

3

Every insurance agent should do;

1 Identify himself and the insurance company of whom he is an

insurance agent

2 disclose his license to the prospects

3 disseminate the requisite information n respect of the insurance

product offered for sale by his insurer and take into account the needs

of the prospects while recommending a specific insurance plan

4

5 indicate the premium to be charged by the insurer for the insurance

product offered for sale

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6

7

No insurance agent should

1 Solicit or procure insurance business without holding a valid license

2 induce the prospect to omit any material information in the proposals

form

3 induce the prospect to submit wrong information in the proposal form or

documents submitted to the insurer for acceptance of the proposal

4

5 interfere with any proposal introduced by any other insurance agent

6 offer different rates, advantages, terms and condition s other than those

offered y his insurer

14. Study Material of LIFE INSURANCE CORPORATION

Human Life Value concept:7 Human Life Value (HLV) is the net present value of one's future

earnings. Put simply, it is the amount that a person's family would

permanently lose, should anything unfortunate happen to that person.

Let's assume that a person is 30 years old and earn Rs. 4, 00,000 per

annum. Now, if his retirement age is 55 he have 25 years to go before

retirement. So his Human Life Value is (25 x 4, 00, 000) = Rs. 100, 00,

000 (One Crore rupees), provided he stay healthy. If we take factors

like inflation and increase in income over a period of time into account,

his Human Life Value is a lot more. In this situation if any things

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happens wrong, only the life insurance policy which he has taken

earlier, can give protection to his family members

FOCUS OF THE STUDY

For the purpose of channel development we have focused on the suspects who

were satisfying some certain parameters like:

1 Those who are in the age group of 25-40 yrs.

2 Those who are at least graduates

3 Those who have spare time to work

4 Those who are having additional professional qualification like C.A.’s,

M.B.A.’s etc.

5 Those who are having prior sales experience

6 Those who need recognition and money

So that we would have made the recruitment of quality advisors.

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31

Zonal Manager

Regional Manager

Branch Manager

Assistant Branch Manager

Sales Team Manager

Insurance Care Manager



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DISTRIBUTION NETWORK

HDFC SLIC Ltd. has one of the largest distribution networks amongst private life

insurers in India, having commenced operations in 74 cities and towns in India.

These are: Agra, Ahmedabad, Ajmer, Allahabad, Amritsar, Anand, Aurangabad,

Bangalore, Bareilly, Bharuch, Bhatinda, Bhopal, Bhubhaneshwar, Calicut,

Chandigarh, Chennai, Coimbatore, Dehradun, Durgapur, Faridabad, Goa,

Guntur, Guwhati, Gurgaon, Gwalior, Hyderabad, Hubli, Indore, Jaipur, Jalandhar,

Jamnagar, Jamshedpur, Jodhpur, Kanpur, Karnal, Kochi, Kolkata, Kolhapur,

Kota, Kottayam, Kozhikode, Lucknow, Ludhiana, Madurai, Mangalore, Meerut,

Mehsana, Mumbai, Mysore, Nagpur, Nasik, Noida, New Delhi, Patiala, Pune,

Raipur, Rajkot, Ranchi, Rourkela, Saharanpur, Salem, Shimla, Siliguri, Surat,

Thane, Thrissur, Trichy, Trivandrum, Udaipur, Vadodara, Vapi, Vashi,

Vijayawada and Vizag.

The company has seven bankssurance tie-ups, having agreements with

HDFC Bank, Union bank of inda,Indian bank, The Federal bank and some co-

operative banks, as well as over 150 corporate agents and brokers. It has also

tied up with NGOs, MFIs and corporate for the distribution of rural policies and

organizations like Dhan for distribution of Salaam Zindagi, a policy for the socially

and economically underprivileged sections of society.

HDFC SLIC Ltd. has recruited and trained over 60,000 insurance advisors to

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interface with and advice customers. Further, it leverages its state-of-the-art IT

infrastructure to provide superior quality of service to cusHDFC SLIC LTD. offers

a complete range of insurance products:

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37



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INDIVIDUAL PRODUCTS

Each of us leads a unique life and so has unique needs. HDFC standard life

offers a range of products and invites you to choose the one that suits you.

Plan Benefits

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Saving plans

Endowment Assurance Plan Life insurance with saving

Unit Linked Endowment Plan Life insurance & saving with choice

investment fundsChildren’s Plan Financial security for your child

Unit Linked Young Star Plan Financial security for your child with

choice of investment fundsMoney Back Plan Life insurance with saving

Investment Plans

Single Premium Whole of Life

Plan

Investment with life insurance

Protection Plans

Term Assurance Plan Life insurance at an affordable price

Loan Cover Term Assurance

Plan

Life insurance customized for home

Retirement Plan

Personal Pension Plan Savings for retirement

Unit Linked Pension Plan Retirement savings with a choice of

investment funds

CHILDREN’S PLAN

What is the children plan?

Children’s plan is designed to provide a lump sum to the child at

maturity. It also provides financial security to the child in the future even in

case of the insured parent’s unfortunate death during the policy term.

Children’s plan receives simple reversionary bonuses, which are usually

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added annually. This is the flexible plan with three options for you to choose

from depending on your requirements.

UNIT LINKED ENDOWMENT PLAN

HDFC Unit linked Endowment Plan gives you:

• An outstanding investment opportunity in a wide range of investment

funds backed by HDFC, India’s leading fund manager.

•

Valuable protection in case of the insured life’s unfortunate death.

• Flexible additional benefit options such as critical illness cover.

• Access to your accumulated fund before maturity.

UNIT LINKED YOUNG STAR PLAN

As a parent your priority is your children’s future and being able to meet

their dreams and aspirations. Today, providing a good education,

establishing a professional career or even a modest wedding is expensive.

Costs are increasing fast. Just imagine how much you will need when your

children take these important steps in life.

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Plan today to ensure a bright future for your children. Start building savings

today with the HDFC Unit Linked Young Star Plan. So that your child is

able to lead a life of respect and dignity with a secured financial future.

HDFC UNIT LINKED YOUNG STAR PLAN

The HDFC Unit Linked Young star plan gives you:

• An outstanding investment opportunity by providing a choice of

thoroughly researched and selected investments.

• Valuable protection in case of the insured parent’s unfortunate death.

• Very flexible benefit combinations and payment options.

• Flexible additional benefit options such as critical illness cover.

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UNIT LINKED PENSION PLAN

Today, you are busy climbing the ladder of success and realizing your

dreams. Today, time is with you. Just take a moment and think. Will you be

able to continue at the same pace? Will your income be the same forever?

Will you be able to live life on your own terms even after you retire?

. HDFC unit linked pension plan is an insurance policy that benefits you in

the following ways:

• Provides a post retirement income for life.

• Offers you potentially higher market linked returns while providing

your family the cover of safety.

• Gives you the flexibility to plan your retirement date.

• Gives you the freedom to invest premiums as per your preferences.

• Gives you tax benefit on your premiums and on receiving the lump

sum.

.

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Advisors at HDFC SLIC Ltd.

The company believes that Advisors are ambassadors to the customers. They

are a key source of business for the organization, and are the continuing link with

our clients. That is why; the company takes a lot of care in recruiting and

developing our advisor force, so that the company continues to set higher

standards of quality in service and salesmanship. To cater to the needs of the

knowledge-oriented marketplace, the company looks for

1 Graduates

2 Service-oriented

3 Good communicators

4 Enjoy meeting new people

5 Prior sales experience people

.

A 18-day training schedule covers the mandatory IRDA training requirements

and HDFC SLIC product-training module. Revision session ensure that the

candidates thoroughly understand the course contents and are well prepared for

the licensing examination. Theoretical training is interspersed with practical

appointment settings with potential customerbusiness will work from the very first

day. All through, the sales development Manager and the management provide

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continuous support to the advisors in achieving independence towards garnering

business.

1

Expectation from the team

1 To achieve the given sales target

2 To participate in all the meetings being placed

3 Attend all the training programme being arranged

4 Weekly reporting etc.

Rewards and recognition in HDFC SLIC Ltd:

President’s club

HDFC Gold Culb.

Each of these clubs have specific performance criteria for qualification and

members of these clubs are entitled to attend seminars held at exotic

international and domestic locations each year. Advisors can also qualify for the

51



renowned MDRT (Million Dollar Round Table), an exclusive international

insurance advisors club.

Career

At HDFC SLIC Ltd. career development is emphasized upon from the very day

the advisor joins the system. Though individual meetings with his or her

manager, the advisor can discuss various issues related to business

development and career enhancement. Expectations from the organization in

terms of chalking a career in the insurance industry are also discussed.

Mentor Team: HDFC SLIC offers the “Tiger Team” programme for identified high

potential advisors. Hand picked by the management, these advisors are placed

on a fast-track career path and recognized as ‘Tiger trainers’. The advisors can

participate in this programme, subject to certain criteria being fulfilled.

52



Research

Methodology

AND

DATA

COLLECTION

53



Research methodology is a way to systematically solve the researcher’s problem

or It may be understood as a science of studying how research is done

scientifically. It defines various steps that are adopted by a researcher in studying

his research problem along with logic behind them.

STEPS FOLLOWED WHILE CARRYING OUT THE RESEARCH PROCESS

The research consisted of two stages. In the first stage, a survey was conducted to

collect the data about the people. The second stage involved analysis of the data

collected in the first stage.

1

54

Define the research problem and itsobjectives

Review concepts and theories

Collection of data survey

Research design including sampledesign

Analysis of data

Interpretation and report writing



No. of samples collected: 100

Duration: 6 weeks

Location: Delhi City

FINDINGS

&

DATA

55



ANALYSIS

56



57



1. For how long you are living at this location ?Year Less than

one year

2-5 year 5-7 year 7-10 year More than

10 yearsRESPONDENTS 5 12 37 25 21

58



RESPONDENTS

5

12

37

2521

0

5

10

15

20

2530

35

40

Less than

one year

2-5 year 5-7 year 7-10 year More than

10 years

Year

R e s p o n d e n

t

RESPONDE

Interpretation

5

The diagram shows that Majority of people living at the particular place from 5-7 years

which means they were more liable .37 people lived 5-7 years at the same place.

59



2. What is your occupation ?

Occupation Service Teaching Profession Business other

Respondent 18 17 23 26 16

Respondent

18 17

23

26

16

0

5

10

15

20

25

30

Service Teaching Profession Business other

Occupation

P e r s o n

Respondent

Interpretation:-

After the analyzing the collecting data most of people had their own

business and second category of the people was that who were professional.

60



3. How many members of your family are employed?

Earning

Members

One

members

Two

members

Three

members

Four

members

More

than four

Respondent 59 23 5 6 7

Respondent

59

23

5 6 7

0

10

20

30

40

50

60

70

One

members

Two

members

Three

members

Four

members

More than

four

No.of earing member

R e s p o n d e n

Respondent

Interpretation:-

61



The diagram shows that near about 60% people had only one member who was

employee.59 people came under this category out 100 people sample

4.What is your total family income from all sources annually?

Income 30000-50000

50000-100000

100000-150000

150000-200000

More than200000

Persons 4 12 75 160 125

persons

412

75

160

125

0

20

40

60

80

100

120

140

160

180

30000-50000 50000-100000 100000-150000 150000-200000 More than200000

Income

p e o p l e

persons

62



Interpretation

:-

On the basis of study and collecting data only 160 people had income

between the 150000-200000.

5.

Would you like to earn extra money by part time job?

Response Yes No

Persons 73 27

63



Persons

73

27

Ye

No

Through survey we find out that 73 people prefer to get extra

income. In this class most of the persons are marketing agents and the

students. And those persons who are highly self motivated and enthusiastic

they can do such type of job as part/full time. Secondly remaining 27 people

who in their existing job/business, are not able to devote time, because they

have lack of time and most of them are busy in their activities.

64



6. If given an opportunity, would you like join HDFC SLIC Ltd.?

Response Yes No May bePeoples 35 47 18

Peoples

35

47

18

Yes

No

May b

Interpretation :-

Diagrm shows that the people 47 people gave no ans .for joining the HDFC

SLIC Ltd.and only 35 people want to join it. So less people are interested

to join the company

65



7. What would be prefer source used for collecting information regarding

your customer?

Sources Professionals Friend Family Advertisement OthersResponse 225 10 42 16 8

Customer information

225

10

42

16 8

0

50

100

150

200

250

Response

Sources

R e s p o n d e n t Professionals

Friend

Family

Advertisement

Others

Interpretation:-

Most of used the professional mode because this area is too tough if any one

feeling 225 people used the professionals method to get the information about

the customer

66



8.How many hours you can devote in a day for generating extra

income by part time job?

Time One

hour

Two

hours

Three

hours

Four

hours

Full time

Response 33 14 21 19 13

Response

33

14

2119

13

0

5

10

15

20

25

30

35

One hour Two hours Three hours Four hours Full time

Timing

R e s p o

n d e n

Response

. Interpretation:-

On the basis of data analysis people want to earn money without giving the moratime 33 people gave only one hour while only 13 people gave full time by which I

say that people need job for very small time period.

67



9. Do you have any experience in selling ?

Response Yes NoPercentage 34% 66%

34%

66%

Yes

No

The study shows that 34% people are having experience in the selling

and they also want to increase their selling skills. That’s why they want to

join as a financial consultant so this job will be helpful in increasing their

income along with selling skill. On the other hand the remaining people

which is 66%, are don’t have any selling experience and they don’t want to

do such type of job, because they are working in different organization.They have lack of time.

68



10. What are the approximate no. of the persin in your social

network?

Contact Less than

20

persons

20-50

persons

50-100

persons

100-200

persons

More

than 200

Response 9 17 37 19 18

Response

9

17

37

19

18

Less than 20 person

20-50 persons

50-100 persons

100-200 persons

More than 200

Interpretation:-

The people were in the survey they all have an average of 50-100

people circle. But out of those which have more than 100 people circle have

been shown much interest in the insurance sector. They think that they will

be comfortable in working with insurance sector. This job enhance their

income. Basically insurance industry based on the contact and references.

69



11. which company’s policy you have subscriber off?

Company LIC ICICI BAJAJ

ALLINAZ

HDFC

SLIC

OTHERS

Reponse 275 57 12 68 3

Reponse

275

57

12

68

30

50

100

150

200

250

300

LIC ICICI BAJAJ

ALLINAJ

HDFC SLIC OTHERS

Company

P o l i c y p u r c h a s e

Reponse

As we know that till 1999 LIC has monopoly in insurance sector. No

other company was in competition of it. It is a nationalize company. But

after 2000 there are many private insurance player which providing better

services in insurance and also offering better plans to the people. But this

is a reality that LIC has a much more market share in insurance industry

and this is going to reduce gradually due to private player. But it is a hard

core fact that people in villages, town and city think that LIC is

70



government company. All the insurance companies including LIC, are

working under the guideline of IRDA rule and regulation.

71





13. What proportion of your income contribute to your insurance

premium ?

Amount

of

income

0-5000 5000-10000 10000-25000 20000-30000

More than

30000

PEOPLE 35 50 51 60 40

35

50 51

60

40

0

10

20

30

40

50

60

No.of people

0-5000 5000-10000

10000-25000

20000-30000

Morethan

30000

INCOME

PEOPLE

PEOPLE

Interpretation:-

diagram interpreted that People save the big amount of tax through the

insurance 60 people are coming between 20000-30000 that means a got amount

could be contributed.

.

73



14. Are you knowing about plans of HDFC SLIC Ltd.?

PLAN CHILDREN

PLAN

ULIP

PLAN

PERSONAL

PLAN

ENDOWMENT

PLAN

OTHERS

AWARENESS 25 17 43 13 2

AWARENESS

2517

43

13

2

05

101520253035404550

C H

I L D R E N

P L A N

U L I P P L A N

P E R

S O N A L

P

L A N

E N D O

W M E N T

P L A N

O

T H E R S

PLAN

N o . o f p e o p l

AWARENESS

Interpretation :-

People were more aware towards the pension plan of the HDFC because it provide

betteer plan not only in pension plan but it also provide another plan 43 people aware the

pension plan of the HDFC SLIC and 25 people were aware from the children plan.

74



15.Are you aware of any insurance policy which gives you medical

benefits also?

Response Yes No

Percentage 24% 76%

24%

76%

Yes

No

Interpretation:-

The study shows that 76% people are unknown about the medical benefit

providing policy which means that huge market is unexplored. So the

company should explore this segment by giving to best medical policies.

75



16. Are you aware of any insurance policy which gives you higher

return medical benefits with safe and secure future of your child?

Response Yes No

Percentage 26 74

Percentage

26

74

Ye

No

Interpretation:-

As the study shows that 74 people are not aware about the children future.

So Children oriented policies should be given by the company. So the

benefit of this opportunity should be taken.

76



17. Are you satisfied with the after sale service provided by

HDFC SLIC Ltd.?

After sale sevice PERCENTAGE

HIGHLY SATISFIED 24

SATISFIED 34

NEUTRAL 21

DISSATISFIED 17

HIGHLY DISSATISFIED 4

Interpretation ;-

77

PERCENTAGE

24

34

21

174

HIGHLY SATISFIED

SATISFIED

NEUTRAL

DISSATISFIED

HIGHLY DISSATISFIED





MDS 1

G1 G2 G3 G4 G5

Investment 3 12 57 68 275

Purpose 18 28 60 92 125 Annual

income 4 12 75 160 125iInvetment 35 50 51 60 40

information 8 16 42 100 225

Interpretation

Interpretation

Here MDS apply on group of the people and their preferences on the basis of

raking. In MDS stress is less than one and in the above scaling it comes near 0.278

which is one fourth of the one so my results is relevant to my objective.Devitation

between the standard and finding is very less so data is more accurate.

79



Correlation

Year No. of Advisor Policy sales Aprail 2000 97 15672001 219 3214

2002 352 4519

2003 496 67132004 659 89292005 993 131322006 1253 175042007 1567 23112

Interpretation

I should apply the correlation between no. of advisors and the policy sale by them

as well as no. of .As well as the advisors increases sale of the policy increase

80



MDS-2

Strongly

agree

Agree Neutral Disagree Strongly

disagree

Benefits 36 47 10 7 0Better plan 13 37 38 9 3Service 24 34 21 17 4Reliability 27 38 24 6 5Best

service

17 23 46 10 4

I can apply the MDS between the satisfaction levels of people towards the

HDFC SLIC Ltd. After applying the scale stress is only 0.149 which means my

aim of the project was successful. Here the stress is less than 1. Deviation

between the standard results is less it lies near the standard line so finding is

good and more relevant.

81



LIMITATIONS

82



The various limitations those were faced while doing the project are as

follow:

1 Time available :- I had only 42 day for my summer training which

are not enough for research on the project.

2 Unwillingness of the respondents :- People could not give the

response due to lake of timing .

3 Geographical area :- The geographical area was very much wide

so the results are not very reflecting the current market behavior

very much.

4 Lack of adequate standards:- Standard of the financial consultant

was not good be lot of thing in this area could not tell to the

customer.

5 Narrow scope :- In the future many private companies entered In

this sector due to which growth rate is less for the Fc.

83



6 Lack of cooperation :- People could not give to me proper

response without any motive.

7 Lack of experience:- I could not have the proper knowledge of this

sector due to which some time I could not clearify terms.

8 Communication gap during understanding the plan to the

customer

9 As the human behavior is not constant so the results collected through

questionnaire may or may not apply to future period of time

84



85



86



87



88



89



90



91



FINDINGS

AND

RECOMMENDATIONS

92



FINDINGS

Most important findings of the summer training are:

1 Most of the people contacted were aware of the company who

were having the knowledge of private life insurance sector. But the

awareness level was only up to the HDFC brand awareness. They

were not having much knowledge about the company or the

company’s product.

2 People rank the company better then from the competitors but

when they asked about the competitive advantage most of them could not

explain.

3 Most of the people were interested in working part time with the

company but when they came to know that the job is of advisor (agent),

most of them quit.

4 other people who were interested in becoming the advisor of

the company even after they got the knowledge about the job profile,

most of them quit again because of the following reasons:

a) Obligation to undergo 100 hours training hours

b) Obligation to deposit a fee of Rs. 650 (later on, which has become

Rs.1000)

c) Unwillingness of relatives or friends

93



6 Person who have decided that to whom they will consider when they

will be willing to take a life insurance policy, were not very strict on

their opinion

7 Most of the people who were educated (at least graduate) have

preferred the private life insurance company in comparison of the LIC.

8 Most of the people who were uneducated have preferred LIC because

of that LIC is a public sector company.

9 Most of people were having the positive attitude towards the company

and the negative attitude towards the company was not because of the

company itself but it was because of the HDFC brand in most of the

cases.

94



RECOMMENDATIONS

The recommendations after studying the findings and the observations are asfollows:

1 The company needs to make people aware more and more about its

competitive advantages over its competitors and about the company’s

products.

2 Company has to reduce the initial amount of fee which the person has

to pay with the application form to become an advisor as the fee of the

company’s competitor’s is very low.

3 Company should approach to those people also who have not yet

decided that which company they will consider while taking a insurance

policy.

4 Company should try to change the preference of the people who are

uneducated from LIC to private sector insurance company by making

them aware that our company is also as safest as a public sector

company.

5 Company can increase its business by focusing on the people from

science background as most of them are not aware about the private

insurance players but prefers the private sector company than the

government because of better services in the private sector.

95



POLICY

IMPLICATION

96



During the training I face lot of problem to tell the people about the part time job

and plans of HDFC SLIC because of others company which do not tell the proper

information about the part time job and also can not tell the hidden cost on the

policy .Due to which people can not faith on me . After that I give suggestion to

my trainer MR. Rahul jain (SDM) who talk with the branch manager Mr. Subodh

Gupta and implication on my some suggestion .These implication are as

following :-

• Called calling could be start by the team members of all SDM(sales development manager ) .

• To aware the people about the HDFC SLIC Ltd. by advertisement methodto put the install at the main spot of the city where more people coming for shopping o any other purpose.

• They reduced the re-appear exam fee for those candidate who can not setin the exam .

I also give other suggestion on which on which they also give attention but notimply.

97



CONCLUSION

98



According to the survey we came to the conclusion that most of the people like the

insurance services. Serviceman, professional and students every person wants to come

into the insurance sector up to certain extent depending upon the interest land the

surrounding conditions.

Mostly the people who are residing in the local area more than 3 year they are interested

as they know every aspect of life on that locality. They know the mentality and the

financial conditions and the nature of that particular area. So only they have shown more

interest in the insurance in the local area market, and only they are successful in the local

area. As the stranger can never successful in unknown market other thing is that the

persons who have the part time job they are also interested in it.

The person are also affected by the family situations, the people having more earning

hand they can think of extra activities like this, they can spare the time for these kind of

activity. But if he is a single person then he can not think about this.

The enthusiasm of the people is also very important thing. A person who has every kind

of ability but he is not enthusiastic then he will not be able to do this type of job.

A experienced person has better opportunity then an inexperienced person the company

or the organization has also advantage by recruiting the experienced person as the

training time and training cost along with the communication skills they are saved. As the

person is already familiar with these kind of marketing environment, so the company can

only tell them about the products and the other expenses are saved.The marketing

opportunity is very bright as the 62% of the total population in uninsured so the

organization should take advantage of this condition and should recruit the most

desirable, skilled, enthusiastic, free minded and intelligent ‘Financial consultant’, so that

they can explore the market with minimum time and maximum profit to the organization.

99



BIBLIOGRAPY

100





14. Study Material of LIFE INSURANCE CORPORATION

Websites:

1 intranet.hdfcsldm.com,Date 8th june 2007

2 www.irda.org.

3 www.google.com

4 www.indiainfoline.com

5 www.hdfcstandardlife.com

102


http://www.indiainfoline.com/

http://www.hdfcstandardlife.com/


http://www.indiainfoline.com/

http://www.hdfcstandardlife.com/



ANNEXURES

103



Annexure-1

XLSTAT 7.1 - Multidimensional Scaling (MDS) - 9/26/2007 at 12:07:28 PM

Dissimilarity matrix: workbook = Book1vijay.xls / sheet = Sheet2 / range = $B$4:$F$8 / 5 rows

Uniform weighting (default)

No missing values

Metric Multidimensional ScalingMultidimensional Scaling model: absolute

Stress used for the results: Kruskal's stress-1

Dimension of the representation space: 5

Repetitions: 10

Seed of the pseudo-random numbers generator: 2011353040

Iterations: 50

Convergence: 0.0001

Space with 5 Dimensions:

Model: Dij= Pij

Observation coordinates:

Observation Dim1 Dim2 Dim3 Dim4

Strongly agree -6.110 0.468 2.048 -3.052

Agree -12.657 -2.659 9.641 -6.452

Neutral -8.793 0.367 -15.789 5.997

Disagree 15.261 1.345 -3.534 4.710

Strongly disagree 12.299 0.478 7.635 -1.203

Distances measured in the representation space:

Stronglyagree Agree Neutral Disagree

Sd

Strongly agree 0 12.441 25.660 23.916

Agree 12.441 0 35.940 34.709

Neutral 25.660 35.940 0 29.214

104



Disagree 23.916 34.709 29.214 0

Strongly disagree 19.869 25.797 38.261 16.056

Ideal distances calculated using the model (disparities):


Sd

Strongly agree 0 13.000 24.000 27.000

Agree 13.000 0 34.000 38.000

Neutral 24.000 34.000 0 24.000

Disagree 27.000 38.000 24.000 0

Strongly disagree 17.000 23.000 46.000 10.000

In the case of the absolute model, the disparities are equal than the dissimilarities

Residual distances:


Sd

Strongly agree 0 -0.559 1.660 -3.084

Agree -0.559 0 1.940 -3.291

Neutral 1.660 1.940 0 5.214

Disagree -3.084 -3.291 5.214 0

Strongly disagree 2.869 2.797 -7.739 6.056

Comparative table:

Pair Dissimilarity Disparity Distance

Dissimilarity

rank DisDisagree - Strongly disagree 10.000 10.000 16.056 1

Strongly agree - Agree 13.000 13.000 12.441 2Strongly agree - Stronglydisagree 17.000 17.000 19.869 3

Agree - Strongly disagree 23.000 23.000 25.797 4

Neutral - Disagree 24.000 24.000 29.214 5

Strongly agree - Neutral 24.000 24.000 25.660 5

Strongly agree - Disagree 27.000 27.000 23.916 6

Agree - Neutral 34.000 34.000 35.940 7

Agree - Disagree 38.000 38.000 34.709 8

Neutral - Strongly disagree 46.000 46.000 38.261 9

In the case of the absolute model, the disparities are equal than the dissimilarities

105



Summary of repetitions:

Repetition IterationsInitialstress

Fin.stress

1 34 0.598 0.149

2 36 0.465 0.149

3 22 0.390 0.149

4 25 0.419 0.149

5 34 0.456 0.149

6 35 0.399 0.149

7 38 0.538 0.149

8 30 0.420 0.1499 26 0.404 0.149

10 33 0.438 0.149

In bold, repetition corresponding to the best solution that XLSTAT found

106



Annexure-2 CORRELATION

XLSTAT 7.1 - Correlation Tests - 9/26/2007 at 12:08:08 PM

Variable 1: workbook = Book1vijay.xls / sheet = Sheet3 / range = $D$6:$D$13 / 8 rows and 1 column

Variable 2: workbook = Book1vijay.xls / sheet = Sheet3 / range = $E$6:$E$13 / 8 rows and 1 column

Significance level: 0.05

Pearson's correlation coefficient test (parametric test):

Observed value 0.997

Two-tailed p-value < 0.0001

Alpha 0.05

Decision:

At the level of significance Alpha=0.050 the decision is to reject the null hypothesis of absence of correla

107



Annexure-3 MDS-2XLSTAT 7.1 - Multidimensional Scaling (MDS) – 9/26/2007 at 12:06:35 PM

Dissimilarity matrix: workbook = Book1vijay.xls / sheet = Sheet1 / range = $C$6:$G$10 / 5 rows and 5 co

Uniform weighting (default)

No missing valuesMetric Multidimensional Scaling

Multidimensional Scaling model: absolute

Stress used for the results: Kruskal's stress-1

Dimension of the representation space: 5

Repetitions: 10

Seed of the pseudo-random numbers generator: 410208210

Iterations: 50

Convergence: 0.0001

Space with 5 Dimensions:

Model: Dij= Pij

Observation coordinates:

Observation Dim1 Dim2 Dim3 Dim4 Dim5

G1 -5.360 0.342 -1.885 -2.017 -0.003

G2 -4.548 0.447 0.300 3.236 11.053

G3 -1.137 0.992 -1.141 0.202 -2.904

G4 36.007 -3.672 7.917 -1.378 -29.011

G5 -24.963 1.892 -5.192 -0.044 20.865

Distances measured in the representation space:

G1 G2 G3 G4 G5

G1 0 12.461 5.670 51.626 28.930

G2 12.461 0 14.765 57.845 23.580

G3 5.670 14.765 0 46.556 33.910

G4 51.626 57.845 46.556 0 80.059

G5 28.930 23.580 33.910 80.059 0

Ideal distances calculated using the model (disparities):

G1 G2 G3 G4 G5

G1 0 18.000 4.000 35.000 8.000

G2 18.000 0 12.000 50.000 16.000

G3 4.000 12.000 0 51.000 42.000

G4 35.000 50.000 51.000 0 100.000

G5 8.000 16.000 42.000 100.000 0

108





Summary of repetitions:

Repetition IterationsInitialstress

Fin.stress

1 27 0.752 0.278

2 29 0.682 0.278

3 28 0.699 0.278

4 27 0.663 0.278

5 28 0.687 0.278

6 29 0.681 0.278

7 29 0.631 0.278

8 26 0.657 0.2789 28 0.717 0.278

10 29 0.638 0.278

In bold, repetition corresponding to the best solution that XLSTAT found

110



Private players in insurance sector till date

Annexure-4

S.No. Registration

Number

Date

of.Reg.

Name of the Company

1 101 23.10.2000 HDFC Standard Life Insurance Company Ltd.

2 104 15.11.2000 Max New York Life Insurance Co. Ltd.

3 105 24.11.2000 ICICI Prudential Life Insurance Company Ltd.

4 107 10.01.2001 Kotak Mahindra Old Mutual Life Insurance Limite

5 109 31.01.2001 Birla Sun Life Insurance Company Ltd.

6 110 12.02.2001 Tata AIG Life Insurance Company Ltd.

7 111 30.03.2001 SBI Life Insurance Company Limited .

8 114 02.08.2001 ING Vysya Life Insurance Company Private Limite

9 116 03.08.2001 Bajaj Allianz Life Insurance Company Limited

10 117 06.08.2001 Metlife India Insurance Company Pvt. Ltd.

11 121 03.01.2002 AMP Sanmar Life Insurance Company Limited.

12 122 14.05.2002 Aviva Life Insurance Co. India Pvt. Ltd.

13 127 06.02.2004 Sahara India Insurance Company Ltd.

14 129 06.09.2005 Bharti AxA life insurance

15 134 09.08.2005 Reliance life insurance

111





Annexure-6 FIRST YEAR PREMIUM FOR THE YEAR ENDED MARCH, 2007

Total No. of

Policies Issued

March,2007 Apr.- Mar March Apr.- Mar Premium Policy

1 TATA AIG 4738.99 30022.07 31148 228894 1.18 0.87

2

KOTAKMAHINDRA OLDMUTUAL 23313.41 37475.21 14975 63468 1.48 0.24

3 BIRLA SUNLIFE 13673.42 62128.31 41710 198370 2.45 0.76

4 MAX NEW YORK 4208.25 22469.01 33608 216671 0.89 0.83

5 ING VYSYA 18478.59 28162.46 26088 111141 1.11 0.42

6 ICICI Prulife 19771.79 48615.08 58695 206320 1.92 0.79

7 MET LIFE 1048.10 5603.71 9579 46682 0.22 0.18

8 BAJAJ ALLIANZ 36596.63 86001.80 83017 288191 3.39 1.10

9 HDFC Std.life 42942.95 158408.46 96352 614673 6.25 2.34

10 SBI 8690.23 48293.56 43271 129974 1.91 0.49

11 AVIVA 4248.50 19229.27 13989 83209 0.76 0.32

12 AMP SANMAR 870.99 9118.44 6378 35268 0.36 0.13

13 SAHARA LIFE 131.86 167.09 7146 10214 0.01 0.04

14 Bharti AxA lifeinsurance 127.36 157.32 1933 12006 0.69 1.21

15Reliance lifeinsurance 136.12 149.06 2246 15119 0.76 1.95

16

Shriram LifeInsurance(ShriVishr am) 134.05 155.22 2633 11005 1.90 .09

113



PRIVATE TOTAL 178713.70 555694.47 465956 2233075 21.93 8.50

Annexure-7

FIRST YEAR PREMIUM FOR THE YEAR ENDED MARCH, 2007(PROVISIONAL)

Total No. of Policies IssuedSNo.

Company July,2007

Apr.-July

July Apr.-July

Premium P

1 TATA AIG 2894.32 2894.32 21009 82577 1.75 12 KOTAK MAHINDRA

OM1167.60 4545.70 5112 17893 0.70 0

3 BIRLA SUNLIFE 3053.98 11221.38 15200 46195 1.72 0

4 MAX NEW YORK 2264.26 8663.78 26261 86443 1.33 15 ING VYSYA 1130.95 3490.03 5988 19785 0.54 06 ICICI Prulife 5717.66 19919.80 23237 74302 3.05 17 MET LIFE 724.36 2437.85 6939 20571 0.37 08

BAJAJ ALLIANZ 8713.21 27266.00 34387103319 4.18 1

9HDFC Std.life 13022.37 46435.49 43753

156808 7.12 2

10 SBI 2055.58 9566.76 8750 42778 1.47 011 AVIVA 2176.06 7229.72 8334 26939 1.11 012 AMP SANMAR 796.94 2877.95 4626 15031 0.44 0

13 SAHARA LIFE 85.77 194.19 3554 8851 0.03 014 Bharti AxA life

insurance96.88 164 2346 7689 0.06 0

15 Reliance life insurance 891 2688 542 6911 0.11 016 Shriram Life

Insurance(ShriVishram)

89.00 2356 6354 2222 0.19 0

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(a) One member (b) Two members (c) Three members

(d) Four members (e) More than four members

4. What is your total family income from all soures?

(a) Rs. 30000-50000 (b) Rs. 50000-100 (c) Rs.100000-150000

(d) Rs. 150000-200000 (e)More than Rs 200000

5. Would you like to earn extra money by part time job?

(a) Yes (b) No

6. If given an opportunity, would you like to join HDFC SLIC ?

(a) Yes (b) No (c) May be

7. What would be prefer source used for collecting information regarding

your customer?

(a) Professionals (b) Friends (c) Family

(d) Advertisement (e) Others

8.How many hours you can devote in a day for part time job to earn extra income?

(a) One hour (b) Two hours (c) Three hours

(d) Five hours (e) Full time

9. DO you have any experience in selling?

(a) Yes (b) No

10.What are the approximate no. of the persin in your social network?

(a) Less than 20 persons (b) 20-50 persons (c) 50-100 persons

(d) 100-200 persons (e) more than 200 persons

11. Do you have any insurance policy?

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…………………………………………………………………………..

19. Are you aware of any insurance policy which given you higher return medical

benefits with safe and secure future of your children?(if yes, specify)

(a) Yes (b) No

…………………………………………………………………………..

20. Are you satisfied with the after sales service provided by the HDFC SLIC Ltd.?

(a) Strongly satisfied (b) Satisfied (c) Neutral

(d) Dissatisfied (e) Strongly dissatisfied

21. What do you think about the brand reliability of HDF SLIC Ltd.?

(a) Strongly satisfied (b) Satisfied (c) Neutral

(d) Dissatisfied (e) Strongly dissatisfied

22. What do you think/consider HDFC SLIC your best choice among all private

insurance companies?

a) Strongly agree (b) Agree (c) Neutral

(d) Disagree (e) Strongly disagree

23. Do you like to reinvest in HDFC SLIC in future?

(a) Yes (b) No (c) May be

24. Any suggestion for HDFC SLIC Ltd. for improvement?

……………………………………………………………………………………………

……………………………………………………………………………………………

………………

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