Your SlideShare is downloading. ×
Presentation of efu
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Presentation of efu

9,037
views

Published on

Published in: Investor Relations

3 Comments
3 Likes
Statistics
Notes
No Downloads
Views
Total Views
9,037
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
310
Comments
3
Likes
3
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1.
  • 2. Presented by:
    SAMI-UL-LAH 71
    M.ALTAF 112
    M. ZAHID 82
  • 3. ACKNOWLEDGEMENT
    First of all we would like to thank ALLAH Almighty Who gave us the courage, health, and energy to accomplish our research in due time and without Whose help this study which required untiring efforts would have not been possible to complete within the time limits.
     
    Our thanks are also due to our examiner Mam Ayesha whose valuable comments and suggestions made colossal contribution in improving our dissertation.
     
    Last but not least, we extend our thanks to Mr. Wasim Abidi(UNIT MANAGER OF EFU LIFE INSURANCE COMPANY IN BWP) for moral support and guidance for our topic. so that we may able to do our work within time limits.
    Thanks
  • 4. Efu life insurance
  • 5. PRESENTATION TOPIC :
    Brand name: Efu life insurance
    Product : life insurance
  • 6. EFU INSURANCE COMPANY
    HISTORY OF EFU
    In 1932, Mr. Ghulam Mohammad, a far sighted man, established Eastern Federal UnionInsurance Company (EFU) with financial assistance from the Aga Khan III and the Nawab ofBhopal. Mr. Abdur Rehman Siddiqui became the founder chairman. The company was originallyregistered at Calcutta and operated in India (undivided) and Burma.
    By 1961, EFU had become the flag bearer of Pakistan's insurance industry on the world stage and the largest life company in Afro-Asian countries (excluding Japan) under the leadership of Mr. Roshen Ali Bhimjee. It remained so until 1972 when Life Assurance business in Pakistan was nationalized.
  • 7. EFU INSURANCE COMPANY TODAY
    Today, EFU Life continues to be the largest private sector life insurance company in Pakistan. In 2007, EFU LIFE INSURANCE premium income was Rs. 4.8 billion. The Company enjoys a market share of over 64% of the private sector life premium income (excluding single premium).
    EFU LIFE INSURANCE PROFIT IN 2010 WAS RS 34599000.
    PROFIT FOR THE YEAR 2011 IN QUARTER REPORT(UNAUDITED) IS 151612000.
    EARNING PER SHARE IN 2010 WAS RS 0.41.
    TODAY EPS IS INCREASED TO RS 1.78
  • 8. UNIQUE SELLING POINT IN PAST
    EFU Life is the first life insurance company in Pakistan to be awarded the ISO 9001:2000 certification.
    EFU Life is managed by a team of professionals with extensive life insurance experience in the United Kingdom. This has helped the Company establish a professional culture unique amongst life insurance business in Pakistan.
    EFU was chosen as the best Life Assurance Company by the Consumers Association of Pakistan; nominated as one of the “Top 25 Companies” by the Karachi Stock Exchange
  • 9. USP TODAY
    Market Leader in health insurance in Pakistan with over 35% of the market share .
    Claims are paid within 7 days.
    Highest paid up capital so customer felt more comfortable in getting insurance policy.
    Focusing on serving the humanity rather than just doing a business.
  • 10. Environmental analysis
    Macro analysis
    Political environment
    Social environment
    Technological environment
    Economical environment
    Micro analysis
    Competitor
    Customer
    Intermediator
  • 11. Political environment
    Unfortunately for Pakistan, after the horrifying event of the assassination of Mohatarma Benazir Bhutto, the investment climate has deteriorated, loosing investors' confidence. The event of 27 December, 2007 and the political instability post March 2008, changed the business climate in Pakistan, and gave a major hit to Pakistan economy. Yet, the insurance market grew at a rate of 10%, mainly due to inflation factor.
  • 12. SOCIAL ENVIRONMENT
    Social Security will likely provide additional retirement benefits to retirees beginning, for most persons, after turning sixty.
    Advance loans.
    Firstly, insurance, like banking, promotes savings to individuals.
    Secondly, insurance promotes investment. The insurance company can easily invest its funds in industry, agriculture and commerce.
    Thirdly, the insured person can get loans against the security of insurance policy from insurance company or from banks.
    Fourthly, insurance as we all know, protects against dangers to life and property. If a person has got his life absence of sufficient financial funds to enable them to resume operations in the wake of a loss and without insurance, these projects would be reduced to nothing more than white elephants.
  • 13. Technological environment
    Online bid price system
    Sms services.
    Free consultancy
    The Oracle Exadata Machine V2, made by Sun and Oracle, will replace EFU's legacy system to run their new core insurance application on Oracle technology platform in order to respond better and faster to their business challenges.
  • 14. Economical environment
    Life insurance companies not only provide investment expertise to their policy holders but by pooling resources they help diversify investment risk. Life insurance companies can actually play a more important role in generating savings as compared to mutual funds. First, life insurance companies have large trained sales forces that have the ability to reach out to a large number of people. For example EFU Life’s sales force presently numbers more than 2,000 spread across the country through 81 branches. Secondly, in the absence of an effective direct debit mandate system in the country, the sales force of life insurance companies help in the collection of premiums – a very important element for disciplined savings. Thirdly, unlike other investment avenues, people tend to look at life insurance contracts as long term savings vehicles – life insurance policyholders are therefore serious savers rather than speculators.
  • 15. Competitor of efu
    State life insurance company of Pakistan
    American life insurance co.pak.ltd
    Excel insurance company limited
    Habib insurance company limited
    IGI insurance limited
    National insurance company limited
    (state owned)
    New Hampshire insurance company limited(foreign branch)
    New jubilee insurance company limitedPakistan general insurance company limited
    Picic insurance limited
  • 16. Competitor of efu
    Premier insurance limited
    Reliance insurance company limited
    Saudipak insurance company limited
    Security general insurance company limited
    Shaheen insurance company limited
    Silver Star insurance company limited
    Trakker direct insurance limited
    UBL insurance limited
     United insurance company of Pakistan limited
    Universal insurance company limited
    Adamjee life Insurance Company limited
    Asia care health and life Insurance Company limited
    East west life Assurance Company limited
  • 17. Customer of efu insurance company
    INDIVIDUAL,MARRIED PEOPLE,FAMILIES,JOB PERSONS.HERE WE CAN SAY THAT LIFE INSURANCE PRODUCT HAS A WIDE RANGE.BECAUSE THERE IS A RISK FACTOR INVOLVE IN THE LIFE OF A HUMEN BEING.
  • 18. Intermediaries of efu
    THE INTERMEDIARIES. INSURERS. REINSURERS. BROKERS. AGENTS. CONSULTANTS.
  • 19. 4p’s Analysis
  • 20. PRODUCT
    The company is principally engaged in providing general insurance products and services such as fire and property, marine, aviation and motor insurance. EFU also offers personal accident, workmen's compensation, traveler’s accident, burglary liability, fidelity, money, golfers, credit card and computer crime insurance and life insurance.
  • 21. Type of product
    Consumer product or business product
    Logic: It depends on situation if a customer is defaulter in payment of installment, then he will delivers the policy agreement to other person It will act as business product.
    If a person utilizes his or her policy by making installments properly and get the claimed amount at maturity date,it will consumer product.
  • 22. TYPE of consumer product
    Efu life insurance is a unsought product.
    Logic: life insurance is a product which a person mostly purchased due to risk factor of life, not due to his desire of heart. An unintentionally purchased product is life insurance product.
  • 23. LEVEL of consumer product
    CORE OF EFU
    Core means the main benefit of the product, so Monetary saving is probably the biggest benefit of committing to life insurance early in life.
    http://www.100stips.com/beauty-tips/the-main-benefit-of-taking-out-life-insurance-early-on-in-life.
    Our opinion
    Core of life insurance does not mean the compensation of loss of life but it is only the lump sum payment to nominee, it can be very beneficial.
  • 24. Augmented product
    Unit-linked productsCritical illness productsEducation planning productInflation protection benefitPension PlansIslamic Fund Products
    Insurance plan guider book.
    Installment payment date information by sms.
  • 25. Actual product
    For individual
    Bank insurance
    Group insurance
    Islamic funds product
  • 26. Our opinion
    Indirect marketing should be promoted.
    Promotion of Online premium payment services.
    Low cost life plans should offered.
    Innovations in life plans should be made to hit the target market.
    Plan should hit the needs of customers.
  • 27. pricing
    Price is determined on the basis of risk factors.
    For youngster
    risk involvement is low.
    For old age and army soldiers
    Risk involvement is high and premium is also high.
  • 28. Pricing strategy
    Value based strategy is adopted by Efu insurance company.
    Our opinion
    Relationship pricing strategy in our opinion should be adopted.
    Logic: strong relationships leads toward the motive(serving the humanity) of Efu life insurance.
  • 29. Place or distribution
    Indirect marketing channel
    For awareness of life insurance product , brokers , agent and middle man play there vital role.
    Life insurance product is widely spread via this channel.
    Source;
    Wasim abidi
    Unit manager of efu branch located at university chowk in Bahawalpur.
    Farhan Tariq
    Unit manager of efu branch located in ahmed pur east.
  • 30. Our opinion
    Indirect marketing channel electronic media like press, internet and other publication sources should be used.
    Although there is always a need for publicity to any product. Both channel can also be used.
  • 31. Pricing stratagy
    Value base pricing
    strategy of value base pricing is adopted by efu.
    • Our opinion
    Relationship strategy should also be adopted.
    Logic ;
    Customer relationship is preferable for the company to promote business. Relationships lead towards the motive(serve the humanity) of efu.
  • 32. Thank You