5. NON LIFE/GENERAL
INSURANCE???
Insurance other than the life insurance is
known as general insurance which is of four
types: fire insurance, health insurance, marine
insurance, auto insurance. General insurance
which is also known as non-life insurance
policies including vehicles and homeowners
insurance policies and provides payments
depending on the loss caused from a particular
financial damage
6. TYPES OF NON LIFE
INSURANCE
GENERAL
AUTO
MARINE
FIRE
HEALTH
OTHER
AGRICULTURE
TRAVEL
HOME
PROPERTY
7. LIFE INSURANCE???
Life insurance covers the Assured
against uncertainties of life.
Insurance of life which provides a
security from any uncertain event is
known as life insurance.
8. IMPORTANCE OF LIFE
INSURANCE
1. Protection against untimely death.
2. Saving for old age.
3. Promotion of savings.
4. Initiates investment.
5. Tax benefit.
9. TYPES OF LIFE INSURANCE
LIFE INSURANCE
TRADITINAL
TERM
WHOLE
LIFE
STRAIGHT
LIMITED
PAY
ENDOWMENT
NON
TRADITIONAL
VARIABLE
UNIVERSAL
LIFE
11. KOTAK MAHINDRA
GROUP
• It contains various financial companies.
• It was established in 1985.
• The Group has a wide distribution network
through branches and franchisees across India,
and international offices in London, New York,
Dubai, Abu Dhabi, Mauritius and Singapore.
12. BUSINESSES OF KOTAK
MAHINDRA GROUP
There are 9 businesses of KOTAK MAHINDRA GROUP which
are:
1. Kotak Mahindra Bank Ltd.
2. Kotak Mahindra Old Mutual Life Insurance Ltd.
3. Kotak Securities.
4. Kotak Investment Banking.
5. Kotak Mahindra Prime Ltd.
6. Kotak International Business
7. Kotak Mahindra Asset Management Company.
8. Kotak Private Equity Group
9. Kotak Realty Fund.
13. MANAGEMENT OF KOTAK
MAHINDRA GROUP
MR. UDAY S. KOTAK
EXECUTIVE VICE
CHAIRMAN AND
MANAGING DIRECTOR
Mr. C Jayaram
Joint Managing
Director Mr. Dipak Gupta
Joint Managing Director
15. KOTAK MAHINDRA OLD
MUTUAL LIFE INSURANCE
• KOTAK MAHINDRA OLD MUTUAL LIFE
INSURANCE Ltd. Was established in 2001.
• It is 74:26 joint venture between KOTAK
MAHINDRA BANK Ltd., and OLD MUTUAL.
16. KOTAK MAHINDRA is one of India’s leading
banking and financial services organizations,
offering a wide range of financial services that
encompass every sphere of life.
OLD MUTUAL is an international long term
savings, protection and investment group.
Originating in South Africa in 1845, the group
provides asset management, banking and general
and life insurance in Europe.
17. MANAGEMENT
Mr. Gaurang Shah
Director
Mr. G
Muralidhar
Managing
Director
Mr. Sunil Sharma
Appointed Actuary,
Kotak Mahindra Old
Mutual Life Insurance
Ltd
Mr. Sudhakar Shanbag
Chief Investment Officer,
Kotak Mahindra Old
Mutual Life Insurance
Ltd
18. FINANCIAL HIGHLIGHT OF KOTAK MAHINDRA LIFE
INSURANCE
YEAR PROFIT
‘000
SHARE
CAPITAL
‘000
RESERVES &
SURPLUS
‘000
2012-13 1722862 5102902 2923798
2011-12 1793699 5102902 1026416
2010-11 965239 5102902 520363
2009-10 692246 5102902 520363
2008-09 143401 5102902 520363
FINANCIAL HIGHLIGHTS
20. RECRUITMENT
According to Dale S. Beach, “Recruitment is the
development and maintenance of adequate
manpower resources. It involves the creation of pool
of available labour upon whom the organization can
draw when it needs additional employees”.
22. RECRUITMENT PROCESS
IN INSURANCE INDUSTRY
NAME GATHERING
SCREENING INTERVIEW
NAT (Numerical Ability Test)
CAREER SEMINAR & ADMINISTER P200
EVALUTION P200 & COMPENSATION INTERVIEW
24. PRICING OF PREMIUM
Pricing refers to the methods used to
calculate rate of premium to be charged
on insurance products. Premium is a
price for which the insurer is willing to
accept the risk.
26. LIFE INSURANCE
PRICING ELEMENT
1. Rate of death of large number of insured
persons.
2. Administration cost and other expenses
of the insurer.
3. Income from investment of premium.
28. RESEARCH
Research is an art of scientific investigations.
Research is an academic activity and such as
the term should be in a technical sense.
Research is defined as human activity based
on intellectual applications in the investigation
of matter. In other words, research is one of
the ways to find answers to your questions.
29. OBJECTIVE OF THE
STUDY
1. To understand the recruitment process in an
insurance company.
2. To understand the premium pricing elements in
insurance sector.
3. To analyze the pattern of making premium value
and recruitment of insurance consultant.
4. This study shows that what is the criteria of
choosing a employee in an insurance company.
30. RESEARCH DESIGN
The type of research is descriptive research.
Descriptive research, also known as statistical research,
describes data and characteristics about the population of
phenomenon being studied. Descriptive research answers the
questions who, what, where, when, and how. Although the data
descriptive is factual, accurate and systematic, the research
cannot describe what caused a situation. In other words,
descriptive research is to describe something.
31.
32. SWOT ANALYSIS
Strengths- Internal attributes that are helpful to
the organization to achieving its objective
Weaknesses – Internal attributes that are harmful
to the organization to achieving its objective
Opportunities –External factors that help the
organization achieve its objective
Threats -External factors that are harmful to the
organization to achieving its objective
33. SWOT OF KOTAK MAHINDRA OLD
MUTUAL LIFE INSURANCE
STRENGTH WEAKNESS
State of art Actuarial I.T Infrastructure
Has network across 300 towns
Innovative Product range with
transparent practices
The company covers over 3 million
customers and is one of the fastest
growing insurance companies in India
Lack of presence in various parts of
country
Limited Advertising and low brand
visibility as compared to leading
competitors
OPPORTUNITY THREAT
Growing potential in the semi-urban and
rural market.
Better investment awareness amongst
the younger generation
Fluctuating economic scenarios
Entry of new NBFCs in the sector
increasing competition
34. STPAND COMPETITIORS OF
KOTAK LIFE INSURANCE
Segmentation Targeting Positioning
Segmentation Personal and Group Insurance
Target Group Urban and Rural Investors
Positioning Complete Insurance and financial solutions
Competitors
Competitors SBI Life Insurance
Sahara Life Insurance
Birla Life Insurance
36. • Innovative Product range with transparent practices
• The company covers over 3 million customers and is
one of the fastest growing insurance companies in India
• Growing potential in the semi-urban and rural market.
• Better investment awareness amongst the younger
generation
FINDINGS
• Due to lack of presence in various parts of country
it haven’t wide range.
• Limited Advertising and low brand visibility as
compared to leading competitors so it should
improve advertising styles.
SUGGESTIONS
