birla-sunlife (1)

8/3/2019 birla-sunlife (1)

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Daniel peter

3020070192


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COMPANY PROFILE Launched just before 9 years but still managed to be

amongst leading player(7th) in private insurance industry.

Strong fundamentals based on the Aditya Birla Groups

local insight and Sun Life financials global expertise.

Birla Sun Life Insurance pioneered the unique UnitLinked Life Insurance Solutions in India

Having 1, 68,090 active advisors, and sold 2.5 million

policies.

In April 2009, achieved the landmark of

processing 100% of its claims.
http://images.google.co.in/imgres?imgurl=http://www.siliconindia.com/news/newsimages/Birla-Sun-Life.jpg&imgrefurl=http://www.siliconindia.com/financecity/showfinancecity.php/Birla_Sun_Life_launches_Super_20_fund_-nid-59312.html&usg=__z_3mIaGagQ6wxEf8X4DPv7qRacQ=&h=287&w=194&sz=9&hl=en&start=15&um=1&tbnid=PUoOjJ-IN5ua1M:&tbnh=115&tbnw=78&prev=/images?q=Birla+Sun+Life+Insurance+Term+Plan&hl=en&safe=active&sa=G&um=1


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MARKET SHARE(2008-2009)

Source www.siliconindia.com


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Protection Plan

Birla Sun Life Insurance High Net worth

Plan. Birla Sun Life Insurance Term Plan.

Birla Sun Life Insurance Premium Back

Term Plan.


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Savings Plan

Birla Sun Life Insurance Platinum Plus Birla Sun Life Insurance Guaranteed Bachat

Plan

Birla Sun Life Insurance Money Back PlusPlan

Birla Sun Life Insurance Gold-Plus II

Birla Sun Life Insurance Saral Jeevan Plan

Birla Sun Life Insurance Supreme-Life Birla Sun Life Insurance Dream Plan

Birla Sun Life Insurance ClassicLife Premier


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Birla Sun Life Insurance SimplyLife

Birla Sun Life Insurance PrimeLife Premier

Birla Sun Life Insurance PrimeLife

Birla Sun Life Insurance Flexi Cash Flow

Birla Sun Life Insurance Flexi Save Plus

Birla Sun Life Insurance Flexi Life Line Birla Sun Life Insurance Single Premium

Bond

Savings Plan


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HealthSolutions

BSLI Health Plan. BSLI Universal Health Plan.

Rural Birla Sun Life Insurance Bima Suraksha Super

Birla Sun Life Insurance Bima Dhan Sanchay

Birla Sun Life Insurance Bima Kavach Yojana


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Retirement Plans

Birla Sun Life Insurance Secure 58 Plan.

Birla Sun Life Insurance Freedom 58.

Birla Sun Life Insurance Flexi Secure Life

Retirement Plan II.


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Riders

Accidental Death Rider

Accidental Death and Dismemberment

Rider Term Rider

Critical Illness Rider

Waiver of Premium

Critical Illness Plus Rider

Critical Illness - Woman Rider


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SWOT

STRENGTH

Multi-channel

distribution

Well diversified plans

2.5 Million Policies

sold till 31st march 2009

Superior investment andrisk management

framework

WEAKNESS

Company have not

penetrated in the rural

market.

There is no plan for the

low income group.

Fees for the advisor ishigh than the other

company.


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Opportunity

Good potential market

(77%)

Company can penetrate inrural markets.

Threat

OLD HABITS DIEHARD: Its still difficult

task to win the confidence

of public towards privatecompany.

Competitors offering

similar kind of insurance


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To determine and analyze the Market Potential of theBirla Sun Life Insurance Company in Batala City.

To study and determine the competitor (LIC) position

in the market.

To analyze market share of Birla Sun Life Insuranceproducts in Batala city.

To analyze the customer satisfaction regarding LIC and BSLI.

Objectives of study


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Particulars No. of respondents

Yes 40

No 10

1) Do you think that investment in Insurance sector

is good option?

0 10 20 30 40 50 60

No. of respondentsYes

No


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BSLI 15

LIC 35

2) Which companys policy do you have?

05

10

15

20

25

30

35

No. of respondents

BSLI

LIC


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LIC

No. of respondents

BSLI

Whole life plan 10 5

Retirement plan 5 2

Children plan 9 10

Health plan 3 2

Golden jubilee plan 3 0

Total 30 20

3) Which type of policy you have?

0

5

10

15

20

25

30

No. of respondents

LIC

No. of respondents

BSLI

Whole life plan

Retirement plan

Children planHealth plan

Golden jubilee plan

Total


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Particulars No. of

respondents

LIC

No. of

respondents

BSLI

Below 5 % 0 0

5-8 % 7 3

8-12 % 21 14

Above12 % 2 3

4) What percentage of interest you get from it?

0

5

10

15

20

25

No. of respondents

LIC

No. of respondents BSLI

Below 5 %

5-8 %

8-12 %

Above12 %


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Particulars No. of respondentsLIC

No. of respondentsBSLI

High interest 4 6

Good image of CO. 6 2

Growth of the CO. 9 6

Annual premium is

reasonable

5 2

Maturity benefits 6 4

5) Why do you invest in this(LIC/BSLI) company?


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Yes 44

No 56

6) Do you think that investment in BSLI isbetter than LIC ?

44

56

No. of respondents

Yes No

) If h h ?


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Guaranteed F.V. atmaturity

10

Growth rate 16

More ULIP plan 8

Risk covered 4

7) If yes, then why?

No. of respondents

10

16

8

4

6 Guaranteed F.V. at

maturity

Growth rate

More ULIP plan

Risk covered

All above

) f


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LIC have govt. stake 24

Brand loyalty of LIC 14

Low A.P. than BSLI 12

8) If no, then why?

LIC have govt.

stake, 24

Brand loyalty of

LIC, 14

Low A.P. than

BSLI, 12

High return, 6

LIC have govt. stake

Brand loyalty of LIC

Low A.P. than BSLI

High return

9) Wh l h d h


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Particulars No. ofrespondents

LIC

No. ofrespondents

BSLI

Yes 24 16

No 36 24

9) When company launch new product , then any

information is given to you about that product?

No.

of

respondents

LIC

No.

of

respondents

BSLI

Yes

No

36

2424

16

05

10

15

20

25

30

35

40

Yes

No

10) I f t d thi k BSLI ill


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Agree 20

Neutral 26

Disagree 14

Cant say 40

2026

14

40

0

5

10

15

20

25

30

35

40

Agree Neutral Disagree Cant say

No. of respondents

No. of respondents

10) In near future, do you think BSLI willhave high growth rate?


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Findings

90 people saying that investment in insurance sector is good option and

10 are saying no.40 people have BSLI policies and 60 have of LIC.

10 people of BSLI have Whole life plan, 4 have retirement plan, 22

have children plan, 4 have health plan.

56 people are saying that investment in LIC is better than BSLI, 44 are

saying investment in BSLI is better.Most of the people of both LIC and BSLI are getting rate of interest 8-

12%

Most of the people have children plan of BSLI.

Most of the people invest due to high interest of the policy in BSLIPeople have more faith in govt. Companies than the private.

14 people invest in LIC due to its brand loyalty.

26 people saying that BSLI growth will be neutral in near future.


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SUGGESTIONS

1) Information regarding new product should be provided to the

customers.2) The company should find out the no. of people who are not having

any of the insurance plans through an intensive market research and

motivate them to get insured.3) At some level Company should provide information to the customers

about the charges of the policy.

4) Company should target each and every class of the society.

5) Charges should be low of the policies.

6) Annual premium should be reasonable.


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LIMITATIONS

Some of the respondents were not cooperative.There are chances of biased information provided by the

respondents.

As the sample size is small compared to the total

population, therefore there cant be full accuracy.

The time was limited.

Area was limited.

C l i


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Conclusion

Here in this study we see that people have more policies of

LIC in comparison to BSLI. People have more faith in govt.companies than private. So it is necessary for BSLI Co. that it

should give more attention to that points or that areas where it

lacks for further future growth. Insurance sector is very wide

and co. can grow in future.


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Thank you for your time....

birla-sunlife (1)

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