IDBI Federal Life Insurance is a joint venture between IDBI Bank, Federal Bank and Ageas. The document provides an overview of the company, including its products, mission, values and SWOT analysis. It then outlines a project for trainees which involves researching the company's current advertising strategies and developing a new strategy to improve awareness and market share, particularly through digital advertising and campaigns throughout the year. Key findings from a questionnaire indicate low brand awareness and a need for more frequent advertisements, especially online. Suggestions include using the AIDA model and advertising across various media channels on a consistent basis.

1. UNDER SUPERVISION
OF
MR. EZAD AHMED

2. Industry Background
• The insurance industry of India consists of 51 insurance
companies:
24 are in Life Insurance business
27 are non- life insurers
• Among the life insurers LIC ( Life Insurance Corporation) is the
sole public sector company
• The insurance sector in India is expected to attract over Rs.
12,000 crore (US $ 1.76 billion ) in 2016.
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3. Introduction
• Started in March 2008
• Joint-venture
• One of the fastest growing
• Customer-centric brand
• CEO – Mr. Vighnesh Shahane
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4. Continues
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5. IDBI Bank
• Constituted under Industrial Development bank of India Act,
1964
• Universal Bank with its operations driven by a cutting edge core
Banking IT platform
• For over 40 years, has essayed a key nation-building role
• Headquartered in Mumbai
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6. Federal Bank
• Incorporated on April 28, 1931
• Authorized capital of rupees five thousand
• The Bank operates in four segments:
Treasury operations
Wholesale banking
Retail banking
Other banking operations
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7. Ageas
• International insurance group with a heritage spanning more
than 180 years
• Ranked among the top 20 insurance companies in Europe
• Market leader in Belgium
• Strong presence as the fourth largest player in private car
insurance and the over 50’s market
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8. Mission & vision
• VISION
To be the leading
Provider of insurance plans
Adds value to their lives
• MISSION
Continually strive to enhance customer experience
Superior service delivery
Customers in the most convenient and cost effective
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9. Values
Transparency
Value to Customers
Rock Solid and Delivery on Promise
Customer-friendly
Profit to Stakeholders
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10. Products of company
• IDBI Federal has 4 major products which cater to the needs
of the Indian customers. IDBI Federal products:-
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11. Wealthsurance
• One time premium payment
• Freedom to switch investment among funds
• Guaranteed loyalty additions to boost your investment
• Easy access to your investments through partial withdrawals
• Financial protection for your loved ones
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12. Incomesurance
• Pay the premiums for the first 7 years of the policy
• Guaranteed Annual Payouts irrespective of market condition
• Tax benefits under sec 80 C and sec 10(10D)
• Protection of critical illness benefits
• Life cover
• Loan Facilities
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13. Childsurance
• Financial protection against uncertainty
• Guaranteed annual payouts for child’s important milestones
• Bonuses to boost your savings
• Future premiums waived off in case of an unfortunate event
• Plan continues till maturity in unlikely event of death
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14. Lifesurance
• Lump sum payout at maturity
• Double protection – Accidental Death Benefit
• Tax benefits
• Bonuses to boost your savings
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15. Awards & Accolades
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16. Market Share
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17. SWOT analysis
Strength
9.24 crore B.E.P. in 5 years
2nd company to achieve
Brand name
Weakness
National level advertisement
Low frequented promotional
activities
Low awareness
Opportunity
Market expansion.
Only 6 percent of the market is
insured
Uncovered rural areas
Threat
Tough competition from
market leader LIC
IRDAI intervention
FDI limit increased to 49%.
SWOT
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18. Contribution
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19. Module 1
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20. Module 2
Special class from the External faculty
Training from the Senior Branch Manager
Project Work
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21. Project work
Topic - Advertising strategy
Suggest company to improve its weak areas
Research work
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22. Objective of project work
Current Advertising strategies
Type of ads customers like with respect to insurance products
Why company should advertise aggressively throughout the year
To make an effective advertising strategy for the company
To suggest a new way of advertising
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23. Research Methodology
Questionnaire
design
Random
sampling
Sample size
Sample area
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24. Source of data
• Primary Data
Structured Questionnaire and also through face to face & by
share the questionnaire online with customers.
• Secondary Data
Internet, company’s website, articles, blogs, newspaper,
magazines etc.
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25. Questionnaire
• From which insurance company you would like to buy?
( ) IDBI federal
( ) LIC
( ) SBI life insurance
( ) HDFC life insurance
( ) ICICI prudential
( ) Max insurance
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26. Continue
• Have you heard of IDBI federal life insurance company ?
( ) Yes
( ) No
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27. Continue
• On which media you spend most of your time?
( ) Television
( ) Internet
( ) Radio
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28. Continue
• On which social media you spend most of your time?
( ) Facebook
( ) Twitter
( ) Youtube
( ) Instagram
( ) Snapchat
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29. Continue
• Which mode of advertisement attracts you most?
( ) Online advertisements
( ) Television59
( ) magazine
( ) Newspaper
( ) Hoardings/posters
( ) Others
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30. Continue
• On which channel you saw Insurance ad mostly?
( ) Entertainment & lifestyle Channels
( ) Sports Channels
( ) Science & discovery related Channels
( ) Movie Channels
( ) News Channels
( ) Music Channels
( ) Other Channels
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31. Continue
• Which type of advertisement attracts you most?
( ) Animation
( ) Originality
( ) Humor
( ) Storyline / concept
( ) Celebrity endorsement
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32. Continue
• In which way would you want to receive information related
to Insurance?
( ) Print Ad
( ) Magazine Ad
( ) Hoardings
( ) TV Ad
( ) Online Ad
( ) Agents
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33. Continue
• Which company Ad you find mostly in the media?
( ) LIC.
( ) Bajaj Allianz
( ) ICICI Prudential
( ) IDBI Federal
( ) Birla Sun life
( ) SBI Life
( ) Max insurance
( ) Others
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34. Continue
• How often did you see IDBI Federal advertisement in
Television in last month?
( ) 0
( ) 1-3
( ) 4-7
( ) More than 7
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35. Continue
• Do you feel you need to see more advertisements to know
about the products of IDBI Federal?
( ) Yes
( ) No
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36. Findings
Awareness of brand IDBI
Lacks of awareness of its insurance business
Advertisement play bigger role
No presence on online platform
Online advertisement more attractive than TV
Only 60% of people do insurance for tax saving
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37. Suggestions
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AIDA model
Print & Electronic Media Advertisement
Hoardings at prime areas
Online campaigns
Advertise throughout the year
Aim to increase it market share 0.3% every year

38. Learnings
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Consumer behaviour
Working under pressure
Persuade to customer
Role of advertising
Analysis of data and interpretation

39. Weblography
• www.google.com
• www.wikipedia.org
• www.yahoo.com/question-answer/
• www.idbifederal.com
• www.ageas.com
• www.federal.com
• www.irda.org
• http://www.swissre.com/media/news_releases/Swiss_Re_sigma_study_o
n_world_insurance_in_2014_shows_premium_growth__resumed.html
• http://www.idbifederal.com/Products/Healthsurance/Pages/What-is-
Healthsurance.aspx#
• http://www.studymode.com/essays/Market-Segmentation-40523.html
• http://en.wikipedia.org/wiki/Q_methodology
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40. By-
Chanchal sharma
MB
76
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