Comparison of l
Upcoming SlideShare
Loading in...5
×
 

Comparison of l

on

  • 450 views

 

Statistics

Views

Total Views
450
Views on SlideShare
450
Embed Views
0

Actions

Likes
0
Downloads
26
Comments
0

0 Embeds 0

No embeds

Accessibility

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Comparison of l Comparison of l Presentation Transcript

    • Comparison Of L.I.C. With Its Competitors
      By-
      Sheetesh Rajpoot
      Roll No. 0102927015
    • Content
      INDUSTRY OVERVIEW
      COMPANY PROFILE
      INSURANCE SCHEMES OF LIC
      COMPETETORS
      SWOT ANALYSIS
      RECOMMENDATIONS & ANALYSIS
      2
    • Insurance Industry
      In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.
      Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment.
      An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy.
      3
    • Why do we need insurance?
      4
    • What Is Life Insurance
      Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.The contract is valid for payment of the insured amount during:
      -The date of maturity, or
      -Specified dates at periodic intervals, or
      -Unfortunate death, if it occurs earlier.
    • Overview of L.I.C In India
      Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil.
      The main head quarter of LIC is in Mumbai.
      • Today LIC functions with 2048 fully computerized branch offices,
      • 100 divisional offices,
    • Continue..
      • 7 zonal offices and the corporate office
      • LIC has launched its SATELLITE SAMPARK offices.
      • The satellite offices are smaller, leaner and closer to the customer. The digitalized records of the satellite offices will facilitate anywhere servicing and many other conveniences in the future.
    • Objectives of LIC
      Spread Life Insurance widely and in particular to the rural areas and to the socially and economically backward classes with a view to reaching all insurable persons in the country and providing them adequate financial cover against death at a reasonable cost.
      Maximize mobilization of people's savings by making insurance-linked savings adequately attractive.
      Meet the various life insurance needs of the community that would arise in the changing social and economic environment.
      Promote amongst all agents and employees of the Corporation a sense of participation, pride and job satisfaction through discharge of their duties with dedication towards achievement of Corporate Objective.
      8
    • SWOT Analysis
      9
    • SWOT Analysis
      • STRTENGTHS
      • BRAND NAME
      • CUSTOMER REACH
      • DISTRIBUTION NETWORK
      • PROMOTION
      • WEAKNESS
      • OPERATION SERVICES
      • OLD WAY OF PROMOTION
      • DELAY IN SERVICES
      10
    • SWOT Analysis
      • OPPRTUNITY
      • INCREASE IN THE RISK PROFILE OF INVESTORS
      • TARGET RURAL AREAS
      • THREATS
      • COMPETITORS
      • WEATHER CYCLES
      • NEW SUBSTITUDE PRODUCT EMERGING.
      • SECURITY FACTOR
      11
    • Mission & Vision
      Mission
      "Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development." Vision"A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."
    • Members On The Board Of The Corporation
      ShriD.K. Mehrotra, (Current-in-Charge & CHAIRMAN, LIC )Shri T. S. Vijayan, (Managing Director, LIC )Shri Thomas Mathew T. (Managing Director, LIC )Shri A.K. Dasgupta, (Managing Director, LIC )Shri R. Gopalan, (Secretary, Department of Economic Affairs, Ministry of Finance, Govt. of India.)
    • LIC operates all over India.
      14
    • Organisation structure of LIC
      Chairman
      Managing Director
      Executives Directors
      Chiefs
      Zonal Managers
      Regional Managers
      Divisional Managers
      100 Seniors Divisional Managers
      Marketing Managers
    • Organisation structure of LIC
      Sales Managers
       
       
       
      Senior Branch Managers (Head of the Branch)
       
       
        Assistant Branch Managers Sells  
       
      Development Officers
       
       
       
      Different Agent
      16
    • Insurance Plan’s of LIC
      ENDOWMENT PLAN
      MONEY BACK PLAN
      SPECIAL PLANS
      FOR CHILDRENS PLANS
      PENSION PLUS
      17
    • Competitors
      SBI LIFE
      HDFC LIFE
      ICICI PRU LIFE
      BAJAJ ALLIANZ
      TATA AIG
      Birla sun life.
      ING Vysya.
      Aviva.
      Kotak Mahindra old mutual.
      Max new York.
      Met life.
      18
    • Awards Received in 2010-11
      19
      Readers Digest Trusted Brand
      CNBC Awaz Consumer Award 
      Power Brand Award
    • MARKET SHARE
      20
    • GrowthProfile
    • 25
    • 26
    • (Q) WHICH INSURNACE COMPANY PREFERRED BY THE INSURER?
      a-LIC .
      b-SBI.
      c-ICICI.
      d-BAJAJ ALLIANZ.
      e-other’s
    • RECOMMENDATION & CONCLUSION
      • LIC can capture market share through better pricing and client segmentation.
      • It needs to apply different set of rules and treatment strategies to different customer segments. However, to personalize interactions, insurers are required to capture customer information in an integrated system.
      • The Group Insurance scheme is required to be promoted.
      • Premium should be less.
      28
    • Thank U…….!
      29