sunil hdfc presentation

7/31/2019 Sunil Hdfc Presentation

1/31

7/28/12

Presentation Time


2/31

7/28/12

BEHAVIOUR

ON HDFC LIFE INSURANCE

Presented By:-


3/31

Click to edit Master subtitle style

7/28/12

CONSUMER BUYINGBEHAVIOUR

OF HDFC LIFE INSURANCE

Under The Guidance of:VIKRAM SINGH

BRANCH DEVELOPMENT MANAGER

ON HDFC LIFE INSURANCE


4/31

7/28/12

Things Covered

Introduction to industry

Background of HDFC

Introduction to the topic Research Methodology

Analysis and Interpretation

Results and suggestions

Bibliography


5/31

7/28/12

INTRODUCTION TOINDUSTRY

Insurance sector in India is one of thebooming sectors of the economy and isgrowing at the rate of 15-20 per cent

annum. Together with banking services, itcontributes to about 7 per cent to thecountry's GDP. Insurance is a federalsubject in India and Insurance industry in

India is governed by Insurance Act, 1938,the Life Insurance Corporation Act, 1956and General Insurance Business(Nationalisation) Act, 1972, Insurance

Regulatory and Development Authority


6/31

7/28/12

ABOUT HDFC STANDARDLIFE INSURANCE COMPANY

HDFC Standard Life InsuranceCompany is a joint venture betweenIndias largest housing finance

provider, HDFC, and the Europeslargest mutual life assuranceCompany, the Standard Life

Assurance Company (U.K). Theycame together in the year 1995 withthe aim to be top new life insurancecompany in the market. It hold amarket share of 8 percent in overall


7/31

7/28/12

OUR VISION:-

To be the most successful andadmired life insurance company, whichmean that we are the most trustedcompany.

OUR Mission:-

We aim to be the top new lifeinsurance company in the market . Thisdoes not just mean being the largest or

the most productive company in the


8/31

7/28/12

SUBSIDARY COMPANIES OFHDFC

HDFC Standard Life Insurance

HDFC Developers Limited

HDFC Investments Limited


9/31

7/28/12

COMPANY PROFILE

Incorporation Year: 1995

Chairman : Mr. Deepak S Parekh

Group Operation Director: Ms.Marcia

Campbell

Website: www.hdfcstandardlife .com Listing : BSE, NSE


10/31

7/28/12

Major Achievements ofHDFC SLIC

Indiasbestmanaged


11/31

7/28/12

INTRODUCTION OF TOPIC

CONSUMERBUYING

BEHAVIOUR :

The term


12/31

7/28/12

FACTOR AFFECTINGCONSUMER BEHAVIOUR

CULTURAL FACTORS

SOCIAL FACTORS

PERSONAL FACTORS

PSYCHOLOGICAL FACTORS


13/31

7/28/12

Research methodology

Main Objective: To Studycustomer-buying behavior with afocus on market segmentation for

HDFC Life Insurance

Sub Objectives:-

1)To provide the company with

information of customer's Insurancepolicy if they have any and reasons foropting for that particular policies.

2 To know the most referred olic .


14/31

7/28/12

Research Design Used

For this study, the descriptiveresearch design is used. Thepurpose of applying this method is to

describe the nature of a situation, asit exists at the time of the study andto explore the cause or causes of a

particularcondition Sampling Technique

Convenient sampling techniques is

used to determine the customer


15/31

7/28/12

Technique of data collection

Data was collected throughdiscussions with employees of thecompany. And by personally

interviewing the customers of thecompany and throughquestionnaires.


16/31

7/28/12

LIMITATION

Time constraint:- Limited timeavailable was not enough to convincethe people

Awareness:- People have not exactand appropriate knowledge about thelife insurance.

Some people feel that this work isnot respectful in the society. It is veryhard to shift the mind of eo le from


17/31

7/28/12

Options Responses

Percentage

Salaried 53 53Professional 29 29

Business 12 12

Agriculture 6 6

Total 100 100

S alar ied 5P ro fes s iona l

B u s in e s s 1

A gri c u lt u re

k {

P r

A g r

(A). Occupation

Table No. 1.1

Analysis andInterpretation

Interpretation:The above Pie Chart indicates that 53% of the respondents belong to salariedclass while 29% of respondents are professional. Only 12% of respondentsbelong to business class and rest 6% are engaged in Agriculture


18/31

7/28/12

Options Responses

Percentage

Up to Rs. 2,00,000 21 21

Rs.2,00,000- Rs. 5,00,000 63 63

Rs. 5,00,000 Rs. 8,00,000 11 11

Above Rs. 8,00,000 5 5

Total 100 100

(B). Annual Income

21%

63%

11% 5%ZI Y Up to Rs.

Zn ~ Rs.2,00, Z~

Z Rs. 5 ,00,0 Z

Z Above Rs.

Graph No. 1.2Table No.1.2

InterpretationThe above Pie Chart shows that 21% of respondents fall in group having income up to Rs. 2,00,00,63% of the respondents fall in the income group of Rs.2,00,000Rs.5,00,000,11% of therespondents in the income group of Rs.5,00,00 Rs.8,00,000 and only 5% of respondents fall inthe income group above Rs. 5,00,000.


19/31

7/28/12

Options Responses

Percentage

Less than 2 Years 48 48

2 to 5 Years 37 37More than 5 Years 15 15

Total 100 100

(C). Duration of HDFC STANDARD as Insurance provider

Table No. 1.3

48%

37%

15%

Less than 2 Year

2 to 5 YearsMore than 5 Year

Interpretation:

The above Pie-Chart depicts that 15% people have insurance policies of HDFCStandard for more than 5 years, 37% people have policies from 2- 5 years (this showsthat people have started trusting HDFC as a brand) and 48 % are customers of HDFC

for less than 2 years.

Graph No. 1.3


20/31

7/28/12

BENEFITSNO.OFRESPONDENT

SHARE (%)

Cover FutureUncertainty

55 55

Tax Deductions 20 20

Future Investment 25 25

TOTAL 100 100

(D). DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS

5 5

2 0

2 5C o v e r F u tu

U n c e r ta i n t

T a x D e d u c

F u tu re In v e

Graph No. 1.4

Table No. 1.4

INTERPRETATION

55% of the respondents believe that covering future uncertainty is the biggest benefit ofan Insurance policy. Where as, 20% and 25% of them believe that the other benefitsare Tax deduction and future investments respectively.


21/31

7/28/12

FEATURE NO.OFRESPONDENTS

SHARE (%)

Money BackGuarantee

15 15

Larger RiskCoverance

37 37

Easy Access toAgents

7 7

Low Premium 30 30

CompanysReputation

11 11

TOTAL 100 100

(E).DATA PROVIDES FEATURES OF INSURANCE POLICY THATATTRACTED RESPONDENTS

Ghraph No.1.5

FEATURES OF INSURANCE POLIC

15%

37%

7%

11%

30%

MONEY BACKGUAARENTEE

LARGER RISKCOVERANCE

EASY A CCESS TOAGENTS

LOW P REMIUM

REPUTATION OFCOMPANY

Table No. 1.5

INTERPRETATIONMajority of the respondent (37%) found Larger risk Coverance as the most attracted feature of theall. And (30 %) has attracted of low Premium.(15%) people has attracted of Money BackGuarantee.(11%) has attracted of Reputation of company. And (7%) has attracted of Easy Accessto Agents.


22/31

7/28/12

Options Responses Percentage

Yes 92 92

o 8 8

Total 100 100

(f). Does HDFC STANDARD Provides Customers with theexpected features in a policy

92

8

0

20

40

60

80

100

Ser ies1 92 8

Yes No

Interpretation:The graph shows that 92% customers feel that HDFC STANDARD is providing insurance planswhich are up to their expectations and only 8% feels that the plans are not according to their wish.They pointed out the hidden charges which constitute a very small percentage.

Graph No 1.6

Table No.1.6


23/31

7/28/12

Options Responses

Percentage

Yes 94 94

No 6 6

Total 100 100

(G). Proper solution to Insurance policy relating queries

9 4

6

0

1 0

2 0

3 0

4 0

5 0

6 0

7 0

8 0

9 0

1 0 0

Ser ies1 9 4 6

Ye s No

Interpretation:The graph depicts that 94% customers are satisfied with the customer care departmentof the company. Only 6 respondents were not satisfied with the query handling of thedepartment.

Graph No. 1.7

Table No. 1.7


24/31

7/28/12

Options Response

s

Percen

tage

Yes 90 90

No 10 10

Total 100 100

(H) Satisfaction regarding Administration charges of HDFC STANDARD

9 0

1 0

0

10

20

30

40

50

60

70

80

90

S er ies 1 9 0 10

Y e s N o

Interpretation:

The graph shows that 90%respondents are satisfied with the administration chargesbeing charged by the company but 10% feel that administration fees should be reduced.

Table No. 1.8

Graph No.1.8


25/31

7/28/12

Options Responses Percentag

e

Excellent 23 23

Very good 39 39

Good 30 30

Fair 8 8

Total 100 100

(I). Satisfaction Regarding Services of the HDFC STANDARD

2 3

3 9

3 0

8

0

5

1 0

1 5

2 0

2 5

3 0

3 5

4 0

E xc e lle n t Ve ry go o d G oo d F a ir

Interpretation:The above graph depicts that 30 percent of the respondents feel that service provided by thecompany are good, 30% respondents feel that services are very good and 23% rates the

services as excellent.

Table No. 1.9

Graph No.1.9


26/31

7/28/12

Options Responses Percentage

Efficient staff 60/100 60

Attractive Plans90/100 90

Excellentcustomerservice

70/100 70

Easy BranchAvailability

66/100 66

(J). Strongest Point of HDFCSTANDARD

60

90

70 66

0

10

20

3040

50

60

70

80

90

Ser ies1 60 90 70 66

Eff icient stAttractive

Plans

Excellent

cus tom er

serv ice

Easy Bran

Av a ila bili ty

z

Interpretation:The bar- graph shows that the customer feels that the strongest point of HDFCStandard is the attractive plans, followed by excellent customer care, easy branch

availability and efficient staff.

Table No. 1.10

Graph No. 1.10


27/31

7/28/12

FINDINGS

Most of the respondents belong to Salaried and professionalclass. Business class still needs to be tapped.

The clientele has increased in past 3 years, this shows thatpeople have started trusting HDFC STANDARD as a Brand.

Most of the respondents are satisfied with the insurance plansand services provided by HDFC STANDARD Life InsuranceCompany. The company is providing the customers a huge

product range which is customized according to the customers

requirements.

HDFC STANDARD provides Insurance plans which cover upall the features which customers want in their Insurance plans.


28/31

7/28/12

The main reason due to which customers are choosingHDFC STANDARD as their insurance provider is the hugeproduct range which suits the requirements of all incomeand age groups. And

In their recommendations a few number of respondentsasked for lesser administration charges and no hiddencharges should be there.

85% of respondents are willing to invest in the companyin future. Satisfaction regarding the services provided by companyis rated as very good by the respondents. This shows thatthe company is working in accordance to its Vision.

Findings Continued.


29/31

7/28/12

Making HDFC more accessible: Here I mean that as 80% of the population ofIndia is rural therefore HDFC must have there branches in important towns such asAmbala, Rohtak ,Panipat not only this will increase the awareness among peoplemore over it will help the company to acquire local market and cater to their needs

effectivelyThere should be a product with similar features and low initial premium:A product like Young star is suitable for all but the initial premium which cannot

be less than 18000 rs. is on the higher side , therefore the company should derive aproduct with similar features but with low initial premium so that it is affordable tonormal service class.. Market surveys should be conducted regularly so that to know aboutcustomer demands and changing needs: The company should know about thecustomers changing needs and demands by conducting market surveys which arehelpful in innovating a product which suits the Customers requirements.

There should be Training batches on weekends : It is advised that the companyshould have training batches for the already serving class on weekends , so that thewilling candidates can opt it as a part time business opportunity


30/31

7/28/12

CONCLUSION

In India, insurance is generallyconsidered as a tax-saving deviceinstead of its other implied long-term

financial benefits. Indian people areprone to investing in properties andgold followed by banks deposits.

They selectively invest in shares alsobut the percentage is very small4.5%. Even to this day, Life insurancemarket has become more vibrant.


31/31

7/28/12

BIBLIOGRAPHY

JOURNALS:Jamal Ahmad,

Naser Kamal,(2002) Journal of

sunil hdfc presentation

Documents