A PROJECT REPORT ON

Level of consumer perception towards HDFC Life insurance and Birla sun life insurance Submitted in partial fulfillment of the requirement for the degree two year full time

M.COM-2O13-2O14

Under the Guidance of: Dr. Santosh Kumar (Dept. of Commerce)

Submitted By: Vineeta kumari Roll No.

Dhirendra Mahila P.G. College

(NAAC Accredited)Karmajeetpur, Sunderpur, Varanasi (U.P.)

Department of commerce Dhirendra Mahila P.G. College Karmajeetpur, Sunderpur, Varanasi

CERTIFICATE

This is to certify that Miss Vineeta Kumari has completed this project for the partial fulfillment of Master of commerce under my supervision and Guidance. Her entitled
Level of consumer preception towords HDFC life insurance and Birla sun life insurance embodies the result of her

investigation during the period it was found sincere and dedicated to her work. I wish her succors in future.

(Dr. Santosh Kumar) Supervision Lecture

Department of commerce

DECLARATION

I hereby declare that the project work on Level of consumer preception towords HDFC life insurance and Birla sun life insurance is submitted on the partial fulfillment of my two year post graduate degree of master of commerce and risk management .All the information given hereby are true and real up to my knowledge is concerned.

VINEETA KUMARI m.Com 2 year

nd

PREFACE

In todays corporate and competitive world, I find that insurance sector has the maximum growth and potential as compared to the other sectors. Insurance has the maximum growth rate of 70-80% while as FMCG sector has maximum 12-15% of growth rate. This growth potential attracts me to enter in this sector and HDFC Standard Life Insurance and Birla sun life Insurance has given me the opportunity to work and get experience in highly competitive and enhancing sector. The success story of good market share of different market organizations depends upon the availability of the product and services near to the customer, which can be distributed through a distribution channel. However understanding the market, consumer preference and introducing new products to suit different tastes and at the same time offering a value product would be the key steps to fight competition. Marketing is an important activity in any organizations sales strategy. Marketing helps in promoting the products in the targeted market and create a recall value and branding to the products. Marketing department perform the initial market study for the suitability of the product launches; study the market requirements in the existing markets to further strengthen the market capitalization identity the feature needed for a longevity of a product. Agents are the only way for a company of Insurance sector through which policies and benefits of the company can be explained to the Customer.

ACKNOWLEDGEMENT
I take great pleasure in expression my principal Dr. NALINI MISHRA thanks and profound sense of gratitude to Dr. Santosh Kumar for his valuable guidance keen interest, constant encouragement & inspiration though out the project report preparation. I ,owe may everlasting gratitude to my family member for their love inspiration and constant encouragement and all my friend for their family help & cooperation. Lastly, I would also to express my gratitude to the D.M.P.G. College, faculty member for giving me an opportunity to make project. Again, we thank you all for your support throughout our project.

Vineeta Kumari

CONTENT
CHAPTER-1 Introduction Significance of the study Objective of the study Literature review of the study Methodology of the study Plan of the study Limitation of the study CHAPTER-2 Market share of Birla sun life insurance and HDFC life insurance Market share of Birla sun life insurance and HDFC life insurance India Birla sun life leads with 35% Market share HDFC life insurance of Market share Mutual Funds of HDFC life and Birla sun life insurance

CHAPTER-3 Sales Growth of HDFC life and Birla sun life insurance HDFC life and Birla sun life 26% insurance stake India insurance HDFC life Birla sun life Market share of leading companies India insurance HDFC life Birla sun life industry growth in last few years India insurance HDFC life Birla sun life some key findings CHAPTER-4 Findings Suggestion Conclusion Bibliography Annexure

CHAPTER -- I Introduction
HDFC Life HDFC Life (HDFC Standard Life Insurance Company) is an Indian private life insurance company. It is a joint venture between Housie Development Finance Corporation Ltd (HDFC) and Standard Life plc, provider of financial services in the UK. It was established after private companies were allowed to enter the insurance industry in the year 2000. HDFC holds 74% of the equity while Standard Life holds 26%The Company is present across 960 cities in India and has a network of over 500 branches. Distribution Channels HDFC Life distributes its proud Indian Bank), Direct channel, Brokers, Online buy channel. Principal products category of the HDFC Life include Protection plans, Childrens plans, Savings plans, Investment plans, Health plans, Womens Plan and Group insurance solutions.cts through a multi channel network consisting of Insurance agents, Banc assurance partners (HDFC Bank, Sara swat Bank, The companys portfolio currently consists of 32 retail, 10 group products and 10 rider benefits under savings, investment, protection and retirement product category. The company is run by Amitabh Chaudhry - Managing Director and CEO and Vishay Padilla - ED and CFO. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), Indias leading housing finance institution and The Standard Life Assurance Company, a leading provider of financial services from the United Kingdom. Their cumulative premium income, including the first year premium renewal premiums is Rs. 672.3 for the financial year, Apr-Nov 2005. They have managed to cover over 11,00,000 individuals out of which over 3,40,000 lives have been covered through our group business tie-ups.

Birla Sun Life Insurance Co. Ltd. Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Adyta Birla Group and Sun Life Financial Inc, one of the leading international financial services organizations from Canada. With experience of over a decade, BSLI has contributed to the growth and development of the Indian life insurance industry and currently is one of the leading life insurance companies in the country. Enjoying the trust of over 2.5 million customers, BSLI is known for innovations and offers a complete range of offerings comprising protection solutions, children's future solutions, and wealth with protection, health and wellness as well as retirement solutions for its retail customers. We believe that employee benefit plans provided by employers to their employees play a very important role in increasing employee loyalty and productivity. Birla Sun Life Insurance uses its vast expertise in helping organizations and groups design customized Group Insurance solutions for their employees. Birla Sun Life Insurance has an extensive distribution reach of over 500 cities through its network of over 632 branches, 134,000 empanelled advisors and over 200 partnerships with corporate agents and banks. Assets under Management (AUM) of Birla Sun Life Insurance is close to Rs.22, 000 crore and it has a robust capital base of over Rs.2,450 crore as on 31 March 2012. Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun Life financial Services of Canada. Tata AIG Life Insurance Company Ltd. SBI Life Insurance Company Limited ING Vysya Life Insurance Company Private Limited Bajaj Allianz Life Insurance Company Ltd.

Significance of the study Life insurance is chiefly a risk management tool, meant to offer financial protection to your dependents in the unfortunate event of your death. But in India, as the most other developing market, life insurance has come to present more than just risk cover. This particular study is conducted on the topic titled to study customer perception regarding Birla sun life insurance Company. The aim of this research study is to know about life insurance. It is done to know the banc assurance in India. Banc assurance has mostly been a phenomenal success and, although slow to gain pace, is now taking across Asia, especially now that banks are starting to become more diverse financial institutions, and the concept of universal banking is being accepted. In India, the signs of initial success are already there despite the fact that it is a completely new phenomenon. The study is restricted to Navi-Mumbai region only. The study also analyses the preference cesr e g a r d i n g d i f f e r e n t l i f e i n s u r a n c e p o l i c i e s o f B i r l a -

s u n l i f e i n s u r a n c e . F o r t h i s s t u d y 1 0 0 respondents of Navi-Mumbai are chosen. Now days there are lot of private companies in market so its important to know what motivates the customer to buy the policy. Birla sun life is the fastest growing private insurance company in India.

Objectives of the study To determine and analyze the market potential of the Birla sun Life Insurance Company and HDFC life insurance. To know the customers attitude towards the service provided by the Birla sun life insurance company and HDFC life insurance.

Literature review of the study

Ram Kumar (2003) S t u d i e d t h e r o l e o f r e l a t i o n s h i p m a r k e t i n g i n l i f e i n s u r a n c e s e c t o r . I n todays impersonal marketplace, customer satisfaction, retention and loyalty are rapidly become the thing of the past. Relationship marketing brings them back to the forefront, providing easy-to-apply solutions and strategies for establishing meaningful bonds with customers and turning them into reliable, life-long partners. Relationship marketing can be defined as the process to identify and establish, maintain and enhance and, when necessary, terminate relationships with customers and other stakeholders at a profit so that the objective of all parties involved are met; and this is done by mutual exchange and fulfillment of promises. The key objective of relationship marketing is to establish a one to one relationship w i t h a l l t h e c u s t o m e r s . T h i s m a y s o u n d l i k e a d a y d r e a m f e w y e a r s a g o ; b u t t h a n k s t o t h e technology breakthrough and technological solutions providers it is very much of reality.

Rajesh am (2004) R e v i s e d t h a t i n s u r a n c e s e c t o r h a s n o t o n l y b e e n p l a y i n g a l e a d i n g r o l e within the financial system in India but also has significant socio-economical function, making inroads into the interiors of the economy and is being considered as one of the fast develop in agree in the Indian financial sector too. It has also been facilitating economic development with an objective to build an efficient, effective and a stable insurance business in India as well as a strong base to both the needs of the real economy and socio-economic objective of the country. It has been mobilizing long term saving through life- insurance to support economic growth and also facilitating economic development, insurance cover to a large segment of people, while then o n - l i f e i n s u r a n c e a n d r e i n s u r a n c e f i r m s i n I n d i a a r e m a i n p r o v i d e r s o f r i s k f i n a n c i n g f o r manmade disasters and natural catastrophes. Thus, both life insurance and non-life insurance are found playing a significant role in avoiding or facing the risk of life and business enterprises and also aiding to certain extents for their smooth sailing. Therefore, an attempt is made in this paper to highlight the developments of insurance sector in India in a phased manner and to examine the reasons for the entry of private and foreign insurance players into Indian insurance market and to present the changing scenario of insurance business in India. It is also attempted to examine the growth of Indian insurance sector during the period of pre and post liberalization and finally to1 suggest the strategies and challenges need to be adopted by Indian insurance sector in the light of global scenario so as to enhance its market share. Seth N (2005) Studied the concept of banc assurance in India. Banc assurance has mostly been phenomenal success and, although slow to gain pace, is now taking off across Asia, especial now that banks are starting to become more diverse financial institutions,

Universe banking is being accepted. In India, the signs of initial success are already there despite the fact that it is completely new phenomenon. The factor and principles of why it is a success sa l e s w h e r e e x i s t s i n I n d i a , a n d t h e r e i s n o d o u b t t h a t b a n k s a r e s e t t o b e c o m e a s i g n i f i c a n t distributor of insurance related products and services in the years to come. Roan (2005) Analyzed that the insurance industry has grown by 83 percent since the opening up t h e sector. Remarking on the performance of the insurance industry, C S Rae, c h a i r m a n , insurance regulatory & development authority, said public sector players have not suffered with the opening up of the sector. Insurance premium income has risen to Rs 82,415 crore (Rs 824.15 billion) in 2003-2004, against Rs 45,000 crore (Rs 450 billion) in 2000-01. Rae expects premium income in the life insurance sector to rise further by 15 -16 percent and non -life i n s u r a n c e premium by 14 percent in 2005-06. The growth comes on the back of healthy demand from the manufacturing sector.

Kennan kava (2006) R e v i e w e d i n t h e i r s t u d y t h a t t h e m a r k e t p o t e n t i a l f o r p r i v a t e i n s u r a n c e companies is found to be greater in the long run as most of the Indians are of the opinion that, private insurance companies would be able to perform well in the future. The private and foreign i n s u r a n c e companies have too immediate steps in appointing mo re number of agents a n d / o r advisors in addition to the employees as it has found that agents are the best channel to reach the general public regarding selling of insurance products. The private and foreign

i n s u r a n c e companies have to concentrate on the fa ctors like prevention of loss, assured returns and l o n g t e r m i n v e s t m e n t . T h e y c a n a l s o f o c u s o n a n i n s u r a n c e a m o u n t o f Rs. 1-2 lakes with money back policies. Hence, the market has potential. The p r i v a t e a n d f o r e i g n i n s u r a n c e companies that are taking immediate steps can tap it. Sasidharan Sanjeev (2006) Studied that the insurance sector in India has 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.

Asthma Prashanta (2007) R e v i e w e d t h a t i n g l o b a l i z a t i o n p o l i c y , i n s u r a n c e c o m p a n y f a c e a dynamic global business environment. The existing insurers are facing challenges from non -4 Hsieh (2008) Investigated the relationship between customer perception of public relations (PR) and customer loyalty to test for the moderating role of brand image in that relationship. D a t a w e r e c o l l e c t e d i n a s u r v e y o f c u s t o m e r s o f t h e i n s u r a n c e i n d u s t r y i n T a i w a n , u s i n g a questionnaire designed on the basis of focus-group discussions with umbers. Hierarchical regression analysis of data from 367 respondents was used to test two hypotheses. The result shows that consumers

perception of an organizations PR practice is an antecedent of loyalty. T h e i m p a c t o f public relation perception (PRP) on customer loyalty is stronger and more significant when the brand image is favorable. The effect of PRP on customer l o y a l t y i s negligible. This study extends previous research by examining the moderate of brand image. Further research is indicated, to identify the key moderators of the driving force of PR in relation to customer relationship marketing. This paper proposes an original eight -item scale of effectiveness under different brand-image conditions.

Andreessen Tor (2008) S t u d i e d t h e i m p a c t o f c u s t o m e r s p e r c e p t i o n o f c u s t o m e r s e r v i c e (bad/good) on variables that are known to drive revenue, i.e. customer satisfaction, perceived relative attractiveness, and commitment. Data were collected through a survey among bank customers. Two groups were sampled: customers who have experienced good or bad customer service. The hypotheses were tested by applying structural equation modeling and running two group analysis using the PLS and LISREL softwares. Customers that experience bad cus experience good customer service. They do however, put different weights on every factor in the evaluation process. Also the strength of the relationship between th e variables seems to differ. Typically, analyses showed that customers experiencing bad customer service tend to consider more thoroughly all aspects of the service; the relationships between the variables were stronger and the explained variance of each construct higher, than in the group of customers experiencing good customer service. However, the paths are not different across the groups. The paper has only tested the model and hypothesis in one industry. Future research should test the same model using different industries reflecting different customer involvement levels. Practical implications f r o m t h i s

study, service managers can learn that investing in customer service in ongoing customer relations is the right thing to do as it is linked to customer equity through customers commitment to the firm. Second, as customer service in such relationships drives perceived relative attractiveness, saving the bottom line by cutting back on the human side of the customer interaction, may harm the firms competitive position in the marketplace.

Methodology of the study Marketing research can be defined as the systematic design, collection, analysis, and reporting of the data and finding relevant to a specific marketing situation facing the Research design is the basic plan which guides the researchers in the collection and analysis of data required for practicing the research product. In fact the research design is the conceptual structure with which research is conducted. It consist the blue print for the collection, measurement and analysis of the data that was followed completing the study to ensure that study is relevant to the problem and will follow the predetermine The main data feature of Research Design is that it specifies population to be studied. The main them of the chapter is to know the source of the data the researcher has collected. Data are raw facts of observation, typically about physical phenomenon. 1.1-Duratian Of the study I did my whole dissertation within two month although I wanted to explore more but due insufficiency of time I have chosen limited area.

1.2-Data of the study Secondary data These data are collected from published sources such as Magazines, NEWS papers, several books, and also from the help of web site. www.irda.com www.hdfcinsurance.com www.insurance.ind.com www.moneyoutlook.com Marketing Management- Philip kilter. Research Methodology- C.R. Kothari. IRDA Journal. Outlook The laymans guide to insurance

Plan of the study

Life is unpredictable. But in face of adversity, our responsibilities towards our parents, children a n d loved ones need not be compromised. Insurance planning equips you to smooth out t h e uncertainties and adversities that life might send your way, so that the best that life has to offer, secure in the knowledge that your beloved ones are well provided for.

Market share of the Birla sun life insurance Company and HDFC life insurance. Sales Growth of the Birla life insurance Company and HDFC life insurance.

Limitation of the study 1. The research is confined to a certain parts of Coimbatore and does not necessarily show a pattern applicable to all parts of the Country. 2) Some respondents were reluctant to divulge personal information, which can affect the validity of all responses. 3) In a rapidly changing industry, analysis on one day or in one segment can change very quickly. The environmental changes are vital to be considered in order to assimilate the findings. 4.) Lack of awareness among the people 1. This is the biggest limitation found in this sector. Most of the people are not aware about the importance and the necessity of the insurance in their life. They are not aware how useful life insurance can be for their family members if something happens to them.

Perception of the people towards Insurance sector People still consider insurance just as a Tax saving device. So today also there is always a rush to buy an Insurance Policy only at the end of the financial year like January, February and March making the other 9 months dry for this business.

Insurance does not give good returns Still today people think that Insurance does not give good returns. They are not aware of the modern Unit Linked Insurance Plans which a reoffered by most of the Private sector players. They are still under the perception that if they take Insurance they will get only 5-6% returns which is not true now

CHAPTER--II Market Share

2.1 Market share of Birla sun life insurance and HDFC life insurance Insurance is in a manner of speaking the last frontier in the financial sector to open. It is also a sector, which leads to benefits across the full spectrum, from the individual who now have wider choices, to the economy, which see increased savings, to the infrastructure sector, which can look forward to long term funding being available. In an under-insured economy, newer channels of distribution have to be utilized to intensify the reach of insurance both in urban and rural markets. This will create huge employment opportunities not only within insurance companies but also as agents and consultants of insurance companies. Marketing Mix Policies Different companies can choose to position themselves differently and hence the Marketing Mix is different. However, there are certain common characteristics that one can cull out from the possible strategies that companies adopt.

Product: The development of flexible products to suit individual requirements is what will differentiate the winners from the also-rans. The key to success is in providing insurance solutions, not standardized insurance

products. The concept of riders/optional benefits has already been a huge innovation brought about by the new players, which has led to customization of products for individual needs. However, companies may differentiate themselves on the basis of product segments that they choose to focus on and excel in.

Place: Different companies may however choose different channels and different geographies to focus on. The channel options are - tied agency force, corporate agents and brokers and this is an area where different companies will make different choices. Many companies like HDFC Standard Life are focusing on all channels whereas companies like Max New York Life are focusing on the tied agency force only. Customer interface will be a key challenge for life insurance companies and includes every that interaction that the customer has with the company, such as sales, new business underwriting, policy servicing, premium payments, claim processing and so on. Technology can play a crucial role in delivering the highest standards of service set by the company and it will be imperative for any serious player to excel in all of these.

Promotion and Advertising: The level of demand is latent and will have to be activated considerably. The market needs to be developed. Greater awareness of insurance and the need to have it as a protection tool rather than as a tax planning measure needs to be appreciated by the Indian people. Various communication tools

including advertising, direct marketing and road shows contribute to all this and different companies take different approaches on these.

Price: Price is a relevant differentiator only in two segments - pure term insurance and in pure annuities. Here too, service delivery and financial strength will need to be present at a minimum acceptable level for price to be a relevant differentiator. In case of savings oriented products, long-term returns generated are more relevant than just the price of the product. A focus on generating good investment performance and keeping a tight control on costs help in generating good long-term maturity value for customers. Norms have been laid down on all of these by IRDA and adhering to these while delivering good returns will be a challenge. 2.2 Market Share of Birla Sun Life Insurance Companies and HDFC Life Insurance India In line with expectations, life insurance industrys new business volumes in the individual new business segment remained strong, growing 36% Y-o-Y and 23% M-o-M, in August 2010. In the individual new business segment, while Birla sun life, and HDFC improved WNRP industry market share (YTD) by 3.8 percentage points, 1.5 percentage points, and 0.7 percentage points, respectively, (1.8 percentage points), Birla (1.25 percentage points), .At 5mFY11 end, private insurers market share stood at ~50%.

Here is how Various Life Insurers stack up against each in the Industry as a whole. The following Data suggests that HDFC of India is still the market leader followed by I, HDFC Standard Life, Birla Sun Life, Max New York etc.

News: 2008 Market Share The following reports are for the 2008 Market Share of Property & Casualty Insurers licensed to do business in California. The data are from the National Association of Insurance Commissioner's (NAIC) database, for California licensed companies only. The information is the same as reported on the State Page (page 19) of the insurer's Annual Statement or known as the Statutory Page 14 data. Only companies actively doing business in California (with Direct Written Premium greater than $0) are included. The reports are "by line of business" on an individual company basis and on a group basis, and are sorted alphabetically by company (or group) name, and by their written premium. The Top 25 Groups' report shows their breakdown of business written by concentration level, which is defined by the percentages of premium written in 2008 by line of business with respect to that group's total business written. These Top 25 Groups represent 77.80% of California's property and casualty industry. Lastly, we have included the Historical Loss & LAE Ratios of the Top 20 Insurers (1997 to 2008) in California for three major lines of business, Homeowners, PPA Liability, and PPA Physical Damage. News: 2010 Market Share The following reports are for the 2010 Market Share of Property & Casualty Insurers licensed to do business in California. The data are from the National Association of Insurance Commissioner's (NAIC) database, for California licensed companies only. The information is the same as reported on the State

Page (page 19) of the insurer's Annual Statement or known as the Statutory Page 14 data. Only companies actively doing business in California (with Direct Written Premium greater than $0) are included. The reports are "by line of business" on an individual company basis and on a group basis, and are sorted alphabetically by company (or group) name, and by their written premium. The Top 25 Groups' report shows their breakdown of business written by concentration level, which is defined by the percentages of premium written in 2010 by line of business with respect to that group's total business written. These Top 25 Groups represent 77.37% of California's property and casualty industry. Lastly, we have included the Historical Loss & LAE Ratios of a selected 20 Insurers (1997 to 2010) in California for three major lines of business, Homeowners, PPA Liability, and PPA Physical Damage. We have a section for Risk Retention Groups (RRG) that had business in California in 2010. Risk retention groups are created under the federal Risk Retention Act of 1986. The Act permits an RRG to form as an insurance company and requires it follow the insurance laws of at least one state. News: 2011 Market Share The following reports are for the 2011 Market Share of Property & Casualty Insurers licensed to do business in California. The data are from the National Association of Insurance Commissioner's (NAIC) database, for California licensed companies only. The information is the same as reported on the State Page (page 19) of the insurer's Annual Statement or known as the Statutory Page 14 data. Only CA licensed companies actively doing business in California (with Direct Written Premium greater than $0) are included. The reports are "by line of business" on an individual company basis and on a group basis, and are sorted alphabetically by company (or group) name, and by their written premium. The Top 25 Groups' report shows their breakdown of business written by concentration level, which is defined by the percentages of

premium written in 2011 by line of business with respect to that group's total business written. These Top 25 Groups represent 77.27% of California's property and casualty industry. Lastly, we have included the Historical Loss & LAE Ratios of a selected 20 Insurers (1997 to 2011) in California for three major lines of business, Homeowners, PPA Liability, and PPA Physical Damage. We have a section for Risk Retention Groups (RRG) that had business in California in 2011. Risk retention groups are created under the federal Risk Retention Act of 1986. The Act permits an RRG to form as an insurance company and requires it follow the insurance laws of at least one state.

News: 2012 Market Share The following reports are for the 2012 Market Share of Property & Casualty Insurers licensed to do business in California. The data are from the National Association of Insurance Commissioner's (NAIC) database, for California licensed companies only. The information is the same as reported on the State Page (page 19) of the insurer's Annual Statement or known as the Statutory Page 14 data. Only CA licensed companies actively doing business in California (with Direct Written Premium greater than $0) are included. This year, we have added a new section showing the historical premium and loss information of the CA Prop 103 lines of business. These are the lines subject to rate review specified in Proposition 103. The reports are "by line of business" on an individual company basis and on a group basis, and are sorted alphabetically by company (or group) name, and by their written premium. The Top 25 Groups' report shows their breakdown of business written by concentration level, which is defined by the percentages of premium written in 2012 by line of business with respect to that group's total business written. These Top 25 Groups represent 76.91% of California's property and casualty industry. Lastly, we have included the

Historical Loss & LAE Ratios of a selected 20 Insurers (1997 to 2012) in California for three major lines of business, Homeowners, PPA Liability, and PPA Physical Damage. We have a section for Risk Retention Groups (RRG) that had business in California in 2012. Risk retention groups are created under the federal Risk Retention Act of 1986. The Act permits an RRG to form as an insurance company and requires it follow the insurance laws of at lea

Update April-2011 The Latest Market Share of HDFC Life and Birla sun life Insurance companies operating in India at the end

Birla sun life=40%

HDFC=10%

ALL Insurance=5o%

March 2011 / FY 2011 is as shown in the Pie-chart below.

Birla sun life35%

HDFC Inscurance15%

All Inscurance=50%

1.2 Market Share of Birla Sun Life and HDFC Life of India

How to Read the Pie-Chart? Many students have emailed us the difficulty in reading the chart because of too many small components. On the RHS you have names of Insurers HDFC Standard Life etc So start from LIC India in the Chart and Go Clockwise, you will be able to get the percentage share of each of the companies at the end of respective financial year. Update April-2012 Key Trends of 2012 Private bank led insurers have fared much better than insurers dependent on agency distribution in volumes (2) Share of single premium policies, which had inched up after the new ULIP guidelines, has reversed now as new ULIP schemes have stabilized. (3) Overall ticket sizes have remained flat for private insurers in FY12 but bank? led insurers have done better with growth in average ticket sizes aiding overall volumes.

Market Share of HDFC Life Insurance And Birla Sun life Companies in India at the end of March-2012 / FY 2012.

Birla Sun life Incurance30%

All Inscurance-50%

HDFC life Inscurance-20%

1.3-Market Share of Birla Sun Life and HDFC Life of India

2.3 Birla Sun Life leads with 35% market share Birla Sun Life Insurance Company has topped in the group insurance business among private players with a market share of 34.94 per cent. The Birla group company has collected total group premium income of Rs 18.5 core (Rs 185 million) in the first six months of fiscal 2004. Seen as a major thrust area for the company, Birla Sun Life envisages group insurance premium to contribute about 35-40 per cent of total first year premium in this fiscal against 26 per cent last year. While Birla Sun Life ranks number one in group sales in terms of premium collection, SBI Life Insurance Company has covered the maximum lives at over 800,000 through group sales. Birla Sun Life has insured just about 100,000 to date. According to Insurance Regulatory and Development Authority's latest figures (August 2003), SBI Life with a premium collection of Rs 12.24 core (Rs 122.4 million) under group business, ranks number 2. Among the top five in group sales are Tata AIG Life in third position (Rs 10.61 core), OM Kodak Mahindra Life at fourth (Rs 4.33 core) and HDFC Standard Life at fifth (Rs 2.12 core). Private insurance players are making strong beelines to capture market share in group corporate business. "Group term business is very competitive and price-driven. However, as this business is very sensitive to claims, we need to stay within the competitive band-width or find ourselves out of business the next year," said Birla Sun Life vice president (group life and pension) Jakarta Kauri.

In financial year 2002-03, Birla Sun Life was the market leader in group sales with a share of 35.7 per cent among private players, and accounted for over one per cent of the total market. Nevertheless, the 12 private insurance players have been able to capture less than five per cent of the total group insurance business in the country, with the Life Insurance Corporation of India continuing to hold over 95 per cent market share. "We have sold group insurance to 100 corporate, some of which have switched from LIC to Birla Sun Life as they seek greater transparency and better returns," said Kauri. Birla Sun Life offers unit-linked group plans, which have seen net of charges returns in the region of 26 per cent plus in the last 12 months as on September 30, 2003. "With falling interest rates, corporate are realizing that it makes better sense to invest gratuity and superannuation funds in debt and equity. This is possible through unit-linked schemes. What work for unit-linked funds is volatility and the aspect of rupeecost averaging," said Kaur. While unit-linked plans will offer all the upside, in the event of an individual retiring when the market has slumped and net asset value of the fund becomes negative, Birla Sun Life offers a safety feature. During the post- Birla Sun Life Inc. is an international financial services company known primarily as a life insurance company, but also has a strong presence in investment management with over $494 billion in assets under management. Based in Toronto, Canada, Sun Life and its partners provide insurance, retirement and investment solutions for individuals and businesses around the world including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. Sun Life ranks number 236.

war period, the company's successful business strategies made it one of Montreal's largest white-collar employers, one of the top corporations in Canada, as well as a global player in the life insurance field. For the first half of the 20th century, the city of Montreal had been the economic hub of Canada, but it was losing ground to Toronto. As early as 1950, Toronto's economic activity surpassed Montreal's with regards to stock market trading and capitalization. The advent, in the 1960s, of political and terrorist movements demanding the independence of Quebec from Canada cast pallor of uncertainty over the business community. In 1977, the newly elected sovereignties Quebec government passed the Charter of the French Language (known as Bill 101), making the use of French language mandatory for medium- and large-scale companies when communicating with French-speaking staff. This law was received negatively by the English-speaking business community, many of whom perceived that the historical rights of the English-speaking minority should be respected. On January 6, 1978, the company scaled down the Montreal facilities to serve as a branch service bureau while shifting its head office to rented space in Toronto, Ontario. Officially, Sun Life said it was motivated by the political instability and economic uncertainty of Quebec's future, but skeptics said it was the company's unwillingness to comply with the requirements of Bill 101. In 1979 the company acquired a property at University Avenue and King Street in downtown Toronto and constructed a new office complex, the Sun Life Centre, which was completed in 1984. Bill 101 required more than French communications with French-speaking staff. It made French the official language of the workplace. It also provided that present and prospective employees who could not speak English not be discriminated against because of their inability to speak English. For the largest employer of English-speaking people in Montreal, this would make things very difficult. Many, if not most, of Sun Life's Head Office employees in 1979 could not speak French fluently. Sun Life was quite clear that this was the reason for their move when they made the announcement. The PQ

government was quick to label Sun Life "bad corporate citizens" and claimed that if "they had only warned us, we could have worked something out. The downsizing of Sun Life's Montreal office did not take place overnight. Transfers and moves were made on a per department basis and did not commence until several months after the announcement of the move. The transfer of Sun Life's Head Office from Montreal to Toronto is viewed by many to be the start of an exodus of corporate entities from Montreal, but Sun Life was not the first company to leave. Many companies had left long before Sun Life did, only on a much quieter, private basis. There were several other key activities in the post-war years including the decision by Sun Life to leave many markets, including China and India, because of economic and political changes. In 1962, Sun Life became a mutual company and bought back its shares for $65 million in total. In 1973, Sun Life opened its American subsidiary's new headquarters in Wellesley Hills, Massachusetts at the outskirts of Boston.. In 2002, Sun Life combined its operations with Clerical Life Insurance Company of Waterloo, Ontario. Founded in 1870 as Mutual Life of Canada, Clerical was known as The Mutual Group before it went public in 1999. Waterloo, Ontario became the home to the Canadian operations (at 227 King Street South, formerly head office for Mutual Life Assurance Company) while a regional office and Sun Lifes corporate headquarters remained in Toronto. There are also regional offices in Montreal, Ottawa, Edmonton, Vancouver, Halifax and Calgary. After the operations were integrated, the Clerical brand name continued to be used for certain products and activities until its retirement in 2007. In 2005, Sun Life opened a service centre in Gorgon, India to provide business processing and technology support for Sun Life Financial business units around the world. That same year, Sun Life purchased CMG

Asia and Commerce Financial, the Hong Kong insurance and pension operations of the Commonwealth Bank of Australia, tripling its customer base and adding group insurance and pensions to its business lines. In 2007, Sun Life purchased the employee benefits business of Glenworth Financial, placing itself in the top 10 in the U.S. group benefits market. In 2008, Sun Life sold its 37% interest in CI Financial Income Fund to Scotia bank. Sun Life had originally acquired a significant ownership interest in the firm by selling its mutual fund subsidiaries to CI Financial in 2002.[4] While it no longer owns an interest in CI Financial, Sun Life continues to have a distribution arrangement with CI Financial. At September 30, 2008, Sun Life had assets under management of Can $389 billion and including joint ventures had more than 28,000 employees and 147,590 advisors in 22 countries serving more than 25 million customers worldwide. Birla Sun Life Insurance is ranked as one of the top six privately owned life insurers in India.[5] While in Canada, Sun Life is ranked #1 in several lines of business including Defined Contribution Pension Plans, Group RRSPs and Deferred Profit Sharing Plans. Sun Life Financial Inc. shares trade on the Toronto, New York, and Philippines stock exchanges. It is one of Standard & Poor's Global 1200 companies. In 2009, Sun Life began an aggressive nationwide ad campaign in the United States touting their strength and the fact that they did not accept any bailout money. The commercials parody the concept of naming rights, where a couple nave employees go around the country attempting to put the company's name on various sun-themed things, from KC and the Sunshine Band to Cirque du Soleil to the state of Florida. In a case of life imitating art, they would actually purchase naming rights to the former Dolphin Stadium in Miami.

On January 18, 2010, Sun Life purchased the naming rights for the home field of the Miami Dolphins for a reported US$7.5 million per year.[7] Under the five year contract the stadium will be named Sun Life Stadium. In January 2013, Sun Life acquired Aviva PLCs Malaysian insurance joint venture with lender CIMB Group for a total of $597 million. Sun Life acquired the business along with Malaysian state investor Hashanah National.

Awards, sponsorship and philanthropy

Companies portal

In 2011, Sun Life received the following awards:

Named one of the Global 100 Most Sustainable Corporations in the World by Corporate Knights (Named six of the last eight years including 2012); Named one of the 50 Best Corporate Citizens in Canada by. Named the Most Trusted Life Insurance Company in Canada by Readers Digest for the 2011 Readers Digest Trust Brand consumer survey; Named to Dow Jones Sustainability Index; 2011 Lipper Fund Award for Best Overall Large Company won by subsidiary MFS Investment Management; ICAI Award for Excellence in Financial Reporting for Birla Sun Life; Investment Funds Institute of Canadas Investor Education Award for My Retirement Caf website;

Digital Media Award for Not Jobs But Passion website in India; Business for the Arts 2010 Most Innovative Marketing Sponsorship for Museum + Arts Pass Program, in Canada; Business for the Arts Award of Distinction in the 2010 Most Effective Corporate Program category for Culture Days, in Canada; Sun Life won 25 awards from the Insurance and Financial Communicators Association and the Insurance Marketing and Communications Association including Best in Show, in Canada; Sun Life Prosperity Funds won eight awards from the Philippine Investment Funds Association; Sun Life Hong Kong named Benchmark MPF Provider of the Year Sun Life Philippines President & CEO receives communication award from the international Association of Business Communicators (IABC) Donald Stewart, Sun Lifes Chief Executive Officer, has been named a champion of public education across Canada by The Learning Partnership Sun Life U.S. received its sixth consecutive DALBAR

Financial Intermediary Post-Sale Service

The Sun Life Centre in Boniface Global City, Metro Manila, Philippines Among other contributions in 2010, Sun Life provided financial and support to the following organizations and initiatives:

other

Orbits International, Canada United Way, Canada Sun Life Rising Star Awards, United States City Year, United States Community Care Day, United States

Horizons for Homeless Children, United States Andean Foundation for Aids Research Sudbury Regional Hospital, Ontario, Canada Monument-National, Montreal, Canada Calgary Public Library, Alberta, Canada The Junior Economic Club, Canada National Ballet of Canada Sun Life Shining Action, Hong Kong The Sun Life Ever bright Walk Campaign, China Green China Campaign The Terry Fox Run, Mumbai Canadian Red Cross Childrens Hospital, London, Canada

Sun Life is also the name sponsor of Sun Life Stadium in Miami Gardens, Florida, home of the Miami Dolphins football team (NFL), the University of Miami Hurricanes football team (NCAA), the annual Orange Bowl college football bowl game, the Players' Championship on the Grand Slam of Curling, and, until 2012, the Miami Marlins baseball team (MLB National League). Birla Sun life Insurance Corporate Office | Employees 133000+ | Business Financial services | Establishment 2000 | Website -www.birlasunlife.com Details - It is financial and Insurance company, a Joint venture of Adyta Birla and Sun life Insurance. Company offers life insurance products including health, wealth and retrial plans.

2.4 HDFC Insurance of Market Share Life. HDFC Standard Life Insurance Company Ltd. is one of India's leading private life 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 The Standard Life Insurance Company, a leading provider of financial services from the United Kingdom. Both the promoters are well known for their ethical dealings and financial strength and are thus committed to being a long-term player in the life insurance industry. HDFC Standard Life Insurance Corporate Office Mumbai, Maharashtra | Employees 15500+ | Business Insurance | Establishment 2000 | Website -www.hdfclife.com Details Group company of giant Housing development finance corporation, it is joint venture with Standard life Insurance. We are looking for Self motivated, fast paced, ambitious professionals eager to make a career with the country best private Life insurer. Please be thoroughly prepared with Job Description and request you to go through the IRDA website which lists down the Clauses for Grievance.

Job Role: Overall purpose of the Job: Will be a part of the Customer Grievance & Retention cell which is the single point depository of all the complaints / feedback / correspondence flowing in to HDFC Standard Life.

Experience Industry Type Role Functional Area Education

1 - 5 Years Insurance Associate/Senior Associate -(Technical) ITES, BPO, KPO, LPO, Customer Service, Operations UG - Any Graduate - Any Specialization PG - Post Graduation Not Required DOCTORATE - Doctorate Not Required

Compensation: Location Keywords Contact

INR 1,00,000 - 2,50,000 P.A Mumbai Grievance, Customer Service Sheet B HDFC Std life

Website

http://www.hdfclife.com/

Job Posted Company Profile

27 Dec

HDFC Life is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom. HDFC Ltd. holds 72.37% and Standard Life (Mauritius Holding) Ltd. holds 26.00% of equity in the joint venture, while the rest is held by others. 12 incredible years and still going strong, we have literally made our mark with footprints over 600 cities & towns in India. The growth engine is driven by more than 16,000 committed employees who take pride in working for HDFC Standard Life, a distribution channel with over 2,00,000 customer centric financial consultants and equally strong channel partners in private and public sector banking. While accelerating our growth, we foster a learning culture towards creating thought leadership in the industry. Current Openings

S.No. Date 1 2 27 Dec 27 Dec

Position Senior Associate - Grievance

Location Mumbai

Openings for Business Development Manager / Sales Bhubaneswar Development Manager

3 4

24 Dec 23 Dec

Associate Manager Accounts Circle Head - Business Leader

Patna Nagpur

19 Dec

Corporate Sales Manager - Bancassurancebhubaneshwar

Bhubaneswar

6 7

19 Dec 18 Dec

SDM / Bdm-cuttack & Bhubaneswar Urgent Openings for Sales Professionals Across North Kerala

Bhubaneswar, Cuttack Kanuri / Cannannore, Malappuram, Palatka / Pal hat, Thrissur / Troche, Wayne, Kottayam

8 9 10

17 Dec 17 Dec 17 Dec

Associate Circle Head- Bellary AND Hasped Territory Manager - Banc assurance (Nagpur) Branch Manager - Direct Sales (Delhi)

Bellary, Hosed Nagar Delhi, Delhi/NCR

Performance The HDFC Life virtue Achieving a place among the top 50 great places to work in India for 3 consecutive years is not easy. An Organization today cannot win over its competition by price leadership or by product Innovation, as products can be duplicated and markets may force price reduction. An organization can only win today by promoting a winning work culture by a robust Performance Management System. Our work culture Our Engagement team, through its various initiatives not only ensures work and play to go hand in hand, but also ensures that our employees brand us well among competition. HDFC Life has earned a place among the top 50 Great Places to work for survey consecutively for 3 years, which has been possible because we believe that Life @ HDFC Life are our employees.

While Spars, E- Spars and coffee with Leadership aims at creating a transparent communication system and listening Architecture within the organization, performance and deliveries get recognized through the awards programmer like Shikhar and Loyalty awards. The team not just aims at creating a great work culture but also to motivate the employees and inculcate a sense of belongingness among them. Celebrations at workplace correlates to productivity, loyalty and job satisfaction, which are why HDFC Life ensures that programmers like Unman, Annual Day Celebrations, are consistently observed. Juggling between the obligations towards the families and expectations of the organization and in this constant struggle to maintain a balance can have serious implications on the life of an individual. Therefore, it is important for us to help our employees maintain a healthy balance. Learning & Development We take pride when we talk about learning opportunities we offer to employees as we are not only the trend setters in Learning & Development in the Insurance space, but have won awards like Bloomberg CXO award for innovative use of technology, Global award by Clint USA, for Use of Enterprise wide learning via the internet, Chief Learning Officer of the Year award by TISS LEAPVAULT CLO Awards India to name a few. The Learning and Developments Objective across all audience (Channel partners and employees) is to: Facilitate capability development through enterprise wide learning to meet the strategic needs of the organization. To achieve the above objective, L&D team ensures to:

 Improve business performance as direct outcome of deploying capability development programs. This addresses the Organization's core competencies through our best in class learning interventions, provide a unique learning environment to employees to hone their skills & capabilities through internal trainers in Sales, Behavioral Sciences and E-Learning. Talent Management HDFC Life's Human Resources strategy is closely aligned to the company's strategic plan and overall business needs. Our ability to retain the best fit, manage their performance, create opportunities for high potential employees and take measures to retain the best employees have all helped in driving true business success. Through concerted efforts with other HR processes, we have successfully catered to individual and organization development in response to changing and complex operating environment.

Awards and Accolades 2013-2012

HDFC Life recognized as Client Model Insurer of Asia for the Year 2013 HDFC Life has been recognized as the Clint Model Insurer of Asia for 2013, the highest honor among the 17 technology initiatives which are selected as Model Insurer Component in the Asia Pacific region. The company has also received two Model Insurer Component awards namely Model Insurer Award in the area of Underwriting and the other in Distribution/New Business.

HDFC Life Smart Woman Plan voted as 'Product of the Year 2013' HDFC Life Smart Woman Plan has been voted as 'Product of the Year 2013' under Life Insurance Category. The innovative features of HDFC Life Smart Woman Plan (first ULIP in India specially designed for women to take care of her critical life stage needs - motherhood, diseases that women are prone to certain ages as cancer or loss of spouse) helped us to win this prestigious award.

Featured in the list of 'Top 25 Best Places to Work for' 2013 HDFC Life ranked 18th in the list of 'Top 25 Best Places to Work for' in a study conducted by Great Place To Work institute, India in partnership with Economic Times. HDFC Life has also been ranked No. 1 in Insurance industry and 3rd in Best Company in large organizations (more than 10,000 employees).

HDFC Life has emerged as the winner of the 'Golden Peacock Innovative Product / Service Award' for the year 2012 (for Click 2 Buy). Golden Peacock Awards, instituted by Institute of Directors in 1991, are now regarded as Holy Grail of Corporate Excellence Worldwide

Web sense, in Association with CIO, hosted the CIO100 Symposium & Awards Ceremony. We were awarded the Security Supreme Special Awards for bridging gaps in compliance and security by creating an effective integrated framework.

HDFC Life was ranked amongst the Top 25 India's Best Companies to Work. This was Among the Best Companies in Large Organizations with More Than 10,000 Employees. The Best Companies to Work in India is a study conducted by the Great Place to Work Institute, India in partnership with The Economic Times.

Asia Best Employer Brand Awards 2012 HDFC Life received an award for Talent Management at the 3rd Asia Best Employer Brand Awards 2012. Our MD & CEO, Mr. Amitabh Chaudhry also received an award in the category of CEO with HR orientation.

CNBC TV18's India's Best Banks and Financial Institutions Awards 2012 HDFC Life was honored with 'Best Life Insurance Provider - Private Sector' Award at CNBC TV18's India's Best Banks and Financial Institutions Awards 2012.

1.5 Mutual funds of HDFC life and Birla sun life insurance

Mutual Funds closed in a positive terrain as markets closed flat with a positive bias on December derivative contracts expiry day, but the broader markets outperformed benchmarks for the third consecutive session on Thursday. All the funds belonging to Equity category delivered stable performance registering very few decline. On the sector front, barring Pharmacy & Healthcare funds all other funds closed with positive returns. The Nifty rose 10.50 points to close at 6,278.90 and the Sense climbed 41.88 points to 21,074.59 while the BSE Midcap Index was up 0.4 percent and Small cap gained 1.15 percent. In the fixed income space, funds in the Long and Short term domain delivered stable performance. The government securities ( G-Sec) ended mixed on bouts of buying and selling, while the call money rates finished lower at the overnight call money market here today due lack of demand from bake.

CHAPTERIII Sales Growth

3.1-Sales Growth of HDFC life and Birla sun life insurance

Birla sun life insurance: Private insurer Birla Sun Life Insurance launched a life insurance plan today, called the Vision Life Secure Plan which offers a combination of regular bonuses throughout the policy term and a life insurance benefit until the age of 100. a combination of savings and comprehensive financial protection to you and your family," Birla Sun Life Insurance Managing Director and CEO Jay ant Due said in a release. Vision Life Secure Plan offers maturity and death benefits, including regular accrued bonuses and terminal bonus, if any, besides providing the flexibility to choose the sum assured and the policy term, at inception. The Confederation of Indian Industry states that the insurance sector of the country has been witnessing a consistent growth rate of late and its present worth is 41 billion US dollars. HDFC Life insurance: MUMBAI: HDFC Life, has chosen to sell its 26% stake in the Indian life insurance joint venture with two state-run banks, said a person familiar with the development. Said the executive of a life insurance company not wanting to be identified. The fourth bidder is Manulife; the remaining two bidders are unknown. HDFC Life declined to comment. Bhatia and Manulife did not respond to e-mails seeking comment.

3.2-HDFC Life, Birla Sun Life 26% insurance stake

HDFC Life insurance Stake- HDFC Life today said the company is planning to launch by January 2014 about 21 products, of which 10 will be market-linked and 11 traditional plans, in compliant with new regulations issued by the IRDA. "We are pleased to make available to customers 21 products that will meet the diverse needs like protection, retirement, savings, investment and health. In February 2013, Insurance Regulatory and Development Authority (IRDA) had issued non-linked and linked life insurance products regulations to ensure that all products are consistent in design and are focused on meeting policyholders' expectations.HDFC Life was also the first company to launch pension plans based on the new IRDA regulations. The company had launched two unit linked pension plans and a new immediate annuity plan in December 2012. HDFC Life is a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life plc, the leading provider of financial services in the United Kingdom. Birla Life insurance Stake- Birla Sun Life Insurance launched a life insurance plan today, called the Vision Life Secure Plan which offers a combination of regular bonuses throughout the policy term and a life insurance benefit until the age of 100. The overall life expectancy across age groups has grown, with the average longevity per person improving. With benefits payable on maturity and a life cover beyond the term of the policy up to 100 years of age, Vision Life Secure Plan offers a a combination of savings and comprehensive financial protection to you and your family," Birla Sun Life Insurance Managing Director and

CEO Jay ant Due said in a release. Vision Life Secure Plan offers maturity and death benefits, including regular accrued bonuses and terminal bonus, if any, besides providing the flexibility to choose the sum assured and the policy term, at inception. In the event the insured person survives until the end of the policy term, a maturity benefit is payable to the policyholder. The cover will continue till the insured person attains 100 years of age. In case of death during this period, or survival until 100 years (whichever is first), a guaranteed death benefit is payable. The policy also offers a simple revisionary bonus at the end of each financial year during the policy term, which would be added to the policy on its anniversary. The company may also pay a terminal bonus on maturity or death, if earlier, based on actual experience and prevailing economic conditions. Birla Sun Life Insurance is a joint venture between the Adyta Birla Group and Sun Life Financial Inc, one of the leading international financial services organizations in Caned. Year 2009 2010 2011 2012 2013 HDFC life 34% 40% 54% 50% 55% Birla sun life 40% 45% 60% 55% 60%

3.3-India Insurance HDFC and Birla sun life-Market Share of leading companies

The Following table shows the market share of top insurers in India in the period till Aprill-2011 Company HDFC Birla Others Approximate Market Share 6% 4% 90%

In terms of policies sold following are the top insurers in India: Company Policies sold till December 2011

Birla sun life

589855

HDFC life

397408

3.4- India insurance HDFC Life and Birla sun life industry growth in last few years The life insurance companies have performed the best when it comes to growth with an increase of almost 70% in new premium that has been collected in the initial 5 month2012.As per IRDA data, in April-August 2010 the insurance companies earned $11.73 billion in new premium - in the corresponding period in the previous year the amount stood at 6.9 billion dollars. Birla sun life, a state held insurer, had been the biggest profit maker at that time with an addition of 88% to their existing business. The privately owned insurers together had seen a leap of 34% to their policy sales. HDFC life Prudential earned 576.60 million dollars at that time. During April-August 2009 SBI Life had earned $379.20 million in sales of new policies and that figure went up to $531.87 million in the corresponding period in 2010 making it an increase of 40%. HDFC Standard Life also experienced a good growth of 54% in new sales. IRDA data shows that between April and October 2010 the general insurance industry experienced a year-on-year growth of 22.76% with regards to underwritten gross premium. The total value of that premium was 5.29 billion dollars while the same figure stood at $4.31 billion in April-October 2009. For the public sector companies the year-on-year growth rate was 21.09 percent between April-October 2010 and April-October 2009. In the same period the privately held insurers saw an increase of 25.19 percent in terms the publicly owned entities; New India Insurance was one of the better performers with a premium income of 916.77 million dollars in April-October 2010. At the same period in 2009 they had earned 770.25 million dollars which implies a growth rate of 19.04%. The IRDA Summary Report of Motor Data of Public and Private Sector

Insurers 2009-10 states that in the same period almost 28.4 million policies were sold and the aggregate worth of premium collected was $2.31 billion. 3.5-India insurance HDFC life Birla sun life - some key findings

Following are some important findings from World Bank regarding the condition of insurance industry in India:

Between 2005 and 2010 the yearly GDP growth was approximately 8.56% At the same time, the ratio of gross savings to GDP was 33% Middle class saw the quickest growth The life expectancy rate of people went up and urban development happened at almost 54%. In 2010 rate of premium growth came down to 4.2% and compared to global standards the premium share was pretty low Major operational issues for insurers were expenditure control, claims settlement procedures, improving investment yields, and capital requirements In the 2010-11 fiscal the life insurance industry grew by 4.20% while the general insurance industry increased by 8.10%. During that time the paid-up capital (private total) for the life insurance sector was INR 236.57 billion while the paid-up capital (industry total) was INR 236.63 billion. In 2010-11 the paid-up capital (private total) for the general insurance sector was INR 39.56 billion while the paid-up capital (industry total) was INR 67.06 billion. In 2010-11 the operating costs of privately owned life insurers was INR 159.62 billion while the total life insurance industry expense was INR 329.42

CHAPTERIV FINDINGS, SUGGESTION and conclusion

4.1 FINDINGS:
It reveals

that 39% of respondents belong to 25 to 35 age group and 31% are belong to below 25 ages.

The survey shows that maximum 32% of the respondents are in working govt. sector. Out of 100respondents 33% of the respondents were well known about HDFC investment option. 53% of the people having an insurance policy. 33% of respondents are indented to invest on their earning only. 46% of respondents are preferred long term investment term in HDFC-Birla sun life 56% of the respondents prefer the buying process of the company/agent approaching the customer while 44% prefer vice-versa. 36% of the respondents perception about HDFC-Birla sun life is professional, and 21% has told that it is being aggressive and 14% are Excellent. 60% of the respondents are satisfied with the policies offered in HDFC-Birla sun life. 39% of the respondents using Advisor service which the service offered by the HDFC-Birla sun life 55% of the respondents perceive the benefits of insurance as a cover for future uncertainty. 82% of respondents are satisfied with current policy offered by HDFC-Birla sun life.

4.2 SUGGESTIONS:
In Coimbatore most of the people are working in Government and Business sector and they dont have much financial planning. Another important point is they have good compensation package. So the company should bring more innovative and should carry out more promotional activities in government fields. Better promotion of unit linked plans can generate more sales to the company. HDFC STANDARD LIFE INSURANCE COMPANYs unit linked insurance plans can effectively meet the requirements of the customers, because unit linked plans are directly related to the market, so the customers can creates more wealth through fund and they can enjoy the tax benefit, and also the insurance cover. As the awareness of insurance is less among the people, its awareness should be creating among the people by conducting stage shows and explaining its need and importance. Insurance should not be considered only as a risk cover element but also as a long term investment It is also recommended to concentrate to on lower income group people. More efforts should be taken by the companys financial consultants to convert the leads into policy holder of HDFC-Birla sun life. Follow up should be taken and customer relation should be maintained by the inviting the existing customers to the seminars conducted when launching a new product or any changes are made to the products or rules to retain them.
Coming with new promotional activities like giving new advertisements, keeping stalls, conducting

seminars in companies, and giving ads through SMS can be done by HDFC Standard Life insurance Co. to create awareness among customers.

4.3-CONCLUSION: Our exhaustive research in the field of Life Insurance threw up some interesting trends which can be seen in the above analysis. A general impression that we gathered during Data collection was the immense awareness and knowledge among people about various companies and their insurance products. People are beginning to look beyond Birla sun life for their insurance needs and are willing to trust private players with their hard earned money. People in general have been impressed by the marketing and advertising campaigns of insurance companies. A high penetration of print, radio and Television ad campaigns over the years is beginning to have its impact now. Another heartening trend was in terms of people viewing insurance as a tax saving and investment instrument as much as a protective one. A very high number of respondents have opted for insurance for such purposes and it shows how insurance companies have been successful to attract public money in recent times. The general satisfaction levels among public with regards to policy and agents still requires improvement. But therein lies the opportunity for a relative new comer like HDFC Standard Life Insurance Company Ltd. Birla sun life has never been known for prompt service or customer oriented methods and HDFC Standard Life can build on these factors.

BIBLIOGRAPHY

WEBSITES REFFERED: www.irda.com www.hdfcinsurance.com www.insurance.ind.com www.Birla sun life.com

BOOKS & JOURNALS REFFERED: Marketing Management- Philip kilter. Research Methodology- C.R. Kothari. IRDA Journal. Outlook The laymans guide to insurance.

Books: Kothari C.R. (1990) Research Methodology: Method and Techniques, WishvaParkashan, New Delhi. PP115-117 Bodie. Z, Kane. A & Marcus. J : Essentials of Investments PP242-243

Journals: Lect. D.ramkumar (2003), Relationship Marketing The new tartar for life insurance sector. Department Of Management Studies, N.M.S.S. Vallaichamy Nadir College, Nagamalai, Madurai 625019 available athttp://www.google.co.in/interstitial?url=http://www.indiaschools.com/marketing_029.htm last accessed on 07-08-2009. Dr. Ch.rajesham (2004), changing scenario of India insurance sector, department of commerce & Business Management, University P G college, Kakatiya UniversityKhammam, Andhra Pradesh available athttp://www.insuranceinstituteofindia.com/insuranceinst/publication/uploads/journal-janjun-04/chapter10..pdf last accessed on 14-08-2009 J.Mehra (2005), innovations in life insurance industry, the financial express, new delhiavailable athttp://www.financialexpress.com/news/innovations-in-life-insurance-industrylast accessed on 1508-2009 Websites: http://www.economywatch.com/indianeconomy/indian-insurance-sector.html www.birlasunlife.com/birlasunlife/insurance/bsli.../index5.aspx

ANNEXURE
I am Vineeta kumara M.com second year student of Dhirendra Mahila P.G. College currently doing my project in HDFC Life and Birla sun life Insurance Company. As a part of my study I am collecting information of the existing customers to Level of concurrence perception towards HDFC and Birla sun life. I kindly request you to fill the following questionnaire.

(1) What is your name? (2) Sex: [ ] Male [ ] Female

(3) Which age group do you belong to? [ ] less than 25years, [ ] 25 to 35 tears, [ ] 35 to 45 years [ ] above 45years (4) Which sector are you working in? [ ] Education [ ] Finance [ ] Business [ ] Government [ ] IT [ ] others (5) Are you aware of the all the Investment options available? [ ] Yes [ ] No [ ] Have some knowledge (6) Do have any insurance policy?

[ ] Yes [ ] No

(7) Why do you want to invest in to insurance? [ ] Retirement [ ] Tax saving [ ] Earnings [ ] Liquidity (8) Which term of investment preferred? [ ] Short term [ ] Medium term [ ] Long term (9) What is your perception about insurance? [ ] A saving tool [ ] A tax saving device [ ] A tool to protect your family

(10) What kind of buying process do you prefer? [ ] Customer approached Insurance company/Agent [ ] Company/agent approached customer

(11) What do you look for in an insurance company? [ ] A trusted name [ ] Friendly service & responsiveness [ ] Good plans [ ] Accessibility

(12) Which features made you to invest in HDFC Standard Life Insurance?

[ ] Money Back Guarantee [ ] Larger Risk Covariance [ ] Easy Access to Agents [ ] Low Premium [ ] Companys Reputation (13) What is your opinion towards the services provided by HDFC Standard Life Insurance? [ ] Average [ ] Aggressive [ ] Excellent [ ] professional (14) Are you satisfied with the policies of the insurance provider? [ ] Satisfied [ ] Not satisfied [ ] Not Responded

(15) If you want to clarify any query to whom you consult first? [ ] advisor [ ] company website [ ] customer care [ ] branch manager (16)How do you perceive the benefits of insurance provided? [ ] Cover Future Uncertainty [ ] Tax Deductions [ ] Future Investment (17) Are you satisfied with your current policy? [ ] Yes [ ] No
Any more information you would like to share regarding your perception about HDFC-Birla sun life.