PRESANTATION ON INVESTORS SATISFACTION

TOWARDS HDFC LIFE INSURANCE

PRESENTED BY:-PRIYA THAKURMBA 3RD SEM1466697

OBJECTIVES OF STUDY

To study the satisfaction of the customers towards HDFC LIFE insurance.

To describe the product offered by the company to their customer.

To analyse the attitude of the customer towards the HDFC LIFE.

To analyse the performance of the HDFC LIFE insurance sector.

Scope of The Study

The study deals with HDFC Standard Life in focus and the various segments that it caters to. The study then goes on to evaluate and analyses the findings so as to present a clear picture of trends in the Insurance sector.

HDFC Life Insurance Company Ltd. Is one of India’s leading private life insurnace companies’ which offers a range of individual & group insurance solutions.It is a part of Housing Development Finance Corporation Limited(HDFC Ltd.)India’s leading housing finance institution.The promoter is well known for his ethical dealings and finance strength & is thus committed to being a long-term player in the life insurance industry- all important factors to consider when choosing your insurer.HDFC Life has 500 branches in India touching customers in over 900 cities & towns and also it has 2million satisfied customers.The company has also established a liaison office in Dubai.HDFC Life has a strong presence in its existing markets with a strong base of financial consultants.

COMPANY PROFILE HDFC LIFE INSURANCE COMPANY

Type Private Company

Industry Insurance Services

Founded 2000

Founder Hasmukhbhai Parekh

Area served India

Key People Mr.Amitabh Chaudhry, Ms.Vibha Padalkar

Products Insurance

Total Assets Rs.50258 crore(US $7.6 Billion)

Research Plan

Data Source: Data was collected from both primary as well as secondary sources.

Primary Data Collection: Sample questionnaire was prepared and the same was asked to fill

in hand. Personal interviews were conducted.

Secondary Data Collection: Secondary data was collected by the information given through the material provided by HDFC Standard Life Insurance Company Ltd.

Research Design: The research was of exploratory and descriptive nature. 

Sampling Plan Sampling Unit:The respondents who were asked to fill out questionnaires are the sampling units. These comprise of employees of Govt. Employees, Self Employed etc. Sample Size & Type Of Sampling:The sample size was restricted to only 60 people which comprised of mainly people from different regions of Amritsar due to time constraints.

Sampling Instrument:The sampling instrument selected to carry out the study is well formatted questionnaire consisting of close ended questions.

Why HDFC is Better …?

Investment returns: Investment returns and business growth provided by HDFC is validated by Bajaj Capital report. HDFC pacify the need of invertors up to healthy level and make the strong relationship with them.

Financial Background and Experience: HDFC existing in the market since 1977. It has a very handsome experience in the field of finance because it completely involved in finance Sector only where as the others are running in many other field also like Reliance (Petroleum, Textile, Telecom etc.)

Ethics and Values HDFC is an ethical and cultural organization which prevents the false selling and prohibit the false commitment to the customer.

Sales Force:Properly trend licensed and Educated People are the strength of the company. So that they could give the best customer service.

Networking:Huge branch network HDFC is having 450 branches in all over the country.

Online accessibility : It makes the process faster and make the customer delighted.

SWOT Analysis ofHDFC Standard Life Insurance Company Ltd.

STRENGTHS Strong Tie UpBrand EquityStrong NetworkHuge Customer DatabaseStrong Financial Base  WEAKNESS Low Customer AwarenessLess PromotionUntouched Rural Population  OPPORTUNITIES Large uninsured PopulationNetwork BuildingTargeting the Rural Segment THREATS Competitors.

Customer’s belief in LICFaster Turnover of Employees

DATA GIVES BENEFITS OF HDFC LIFE INSURANCE PERCEIVED BY RESPONDENTSBENEFITS

Interpretation55% of the respondents believe that covering future uncertainty is the biggest benefit of an insurance policy.Whereas, 20% and 25% of them believe that the other benefits are Tax deduction and future investments respectively

DATA PROVIDES FEATURES OF HDFC LIFE INSURANCE POLICY THAT ATTRACTED RESPONDENTS

InterpretationMajority of the respondent (37%) found Larger risk coverance as the most attracted feature of the all.

DATA PROVIDES NUMBER OF INSURANCE POLICY TYPE RESPONDENTS

Interpretation75% of the respondents have Life Insurance Policy while 45% have both. (The % is calculated out of 280 positive response)

DATA GIVES PEOPLE PERCEPTION ABOUT INSURANCERESPONSE

Interpretation81% of the respondents have perception of Insurance being a saving tool. And 74% of the respondents have perception of Insurance being a tax saving device. But 100% of the respondents are with the view that Insurance is a tool to protect your family.

DATA SHOWS PEOPLES HAVING INSURANCE RESPONSE OF HDFC LIFE INSURANCE

Interpretation Of the sample size of 400 surveyed respondents 70% of the respondents are having Insurance policy. 30% of the respondents are either not having any Insurance policy at present or their policy is already matured. And at present 100% of the respondents are with the view that Insurance is a tool to protect your family.

DATA SHOWS REASONS BEHIND FOR INSURANCE RESPONSE HDFC LIFE INSURANCE

Interpretation 80.71% of the Respondents opted for Insurance for tax saving benefits. 80.71% of the Respondents opted for saving / Investments. But all of them, i.e. 100% of the respondents have opted for insurance for their family protection.

DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TO SERVICE AGENT RESPONSE OF HDFC LIFE INSURANCE

 

Interpretation 45% of the respondents are satisfied with their existing service agent. 55% of the respondents are not satisfied with their existing insurance agent. All of those who have taken a policy have responded.

DATA SHOWS PEOPLE PLANNING FOR NEW INVESTMENTS HDFC RESPONSE

Interpretation Only 12.5% of the customers contacted are not planning for new investments presently.Whereas, 87.5% of the customers are still planning for new investments this can be a great potential for Reliance Life Insurance to take them on their favor

DATA SHOWS WHAT PEOPLE INTENT TO GAIN FROM THEIR INVESTMENT WITH HDFC LIFE

% of respondents

After 25 yearsAfter 35 yearsAfter 45 yearsAnytime

Conclusion

# 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 LIC for their insurance needs and are willing to trust private players with their hard earned money.

#People in general have been imprisoned 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 it’s impact now.

#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.

Suggestions Some Suggestions to Increase the usefulness of the study: 1.As the people think that insurance is a tool to protect their family & a tax saving device. They are aware of the fact & realizing its, importance. The company should try to expand & build up its infrastructure because there is a large potential for insurance in India.

2.Company should come up with its branch in amritsar. With the objective and goals to meet the demands & expectations of the public. Because the entrance of private players will increase the competition and it would be a tough task to secure a good position in market.

3. Since HDFC STANDARD LIFE INSURANCE COMPANY Ltd is

leading with several companies’ policies it should be easy

for them to penetrate into the market and secure a good

position if they pay greater attention to the service part

provided to their customer and thereby forming a long and trusted relationship.

THANK YOU