birla-sunlife (1)
TRANSCRIPT
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Daniel peter
3020070192
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COMPANY PROFILE Launched just before 9 years but still managed to be
amongst leading player(7th) in private insurance industry.
Strong fundamentals based on the Aditya Birla Groups
local insight and Sun Life financials global expertise.
Birla Sun Life Insurance pioneered the unique UnitLinked Life Insurance Solutions in India
Having 1, 68,090 active advisors, and sold 2.5 million
policies.
In April 2009, achieved the landmark of
processing 100% of its claims.
http://images.google.co.in/imgres?imgurl=http://www.siliconindia.com/news/newsimages/Birla-Sun-Life.jpg&imgrefurl=http://www.siliconindia.com/financecity/showfinancecity.php/Birla_Sun_Life_launches_Super_20_fund_-nid-59312.html&usg=__z_3mIaGagQ6wxEf8X4DPv7qRacQ=&h=287&w=194&sz=9&hl=en&start=15&um=1&tbnid=PUoOjJ-IN5ua1M:&tbnh=115&tbnw=78&prev=/images?q=Birla+Sun+Life+Insurance+Term+Plan&hl=en&safe=active&sa=G&um=1 -
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MARKET SHARE(2008-2009)
Source www.siliconindia.com
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Protection Plan
Birla Sun Life Insurance High Net worth
Plan. Birla Sun Life Insurance Term Plan.
Birla Sun Life Insurance Premium Back
Term Plan.
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Savings Plan
Birla Sun Life Insurance Platinum Plus Birla Sun Life Insurance Guaranteed Bachat
Plan
Birla Sun Life Insurance Money Back PlusPlan
Birla Sun Life Insurance Gold-Plus II
Birla Sun Life Insurance Saral Jeevan Plan
Birla Sun Life Insurance Supreme-Life Birla Sun Life Insurance Dream Plan
Birla Sun Life Insurance ClassicLife Premier
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Birla Sun Life Insurance SimplyLife
Birla Sun Life Insurance PrimeLife Premier
Birla Sun Life Insurance PrimeLife
Birla Sun Life Insurance Flexi Cash Flow
Birla Sun Life Insurance Flexi Save Plus
Birla Sun Life Insurance Flexi Life Line Birla Sun Life Insurance Single Premium
Bond
Savings Plan
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HealthSolutions
BSLI Health Plan. BSLI Universal Health Plan.
Rural Birla Sun Life Insurance Bima Suraksha Super
Birla Sun Life Insurance Bima Dhan Sanchay
Birla Sun Life Insurance Bima Kavach Yojana
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Retirement Plans
Birla Sun Life Insurance Secure 58 Plan.
Birla Sun Life Insurance Freedom 58.
Birla Sun Life Insurance Flexi Secure Life
Retirement Plan II.
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Riders
Accidental Death Rider
Accidental Death and Dismemberment
Rider Term Rider
Critical Illness Rider
Waiver of Premium
Critical Illness Plus Rider
Critical Illness - Woman Rider
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SWOT
STRENGTH
Multi-channel
distribution
Well diversified plans
2.5 Million Policies
sold till 31st march 2009
Superior investment andrisk management
framework
WEAKNESS
Company have not
penetrated in the rural
market.
There is no plan for the
low income group.
Fees for the advisor ishigh than the other
company.
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Opportunity
Good potential market
(77%)
Company can penetrate inrural markets.
Threat
OLD HABITS DIEHARD: Its still difficult
task to win the confidence
of public towards privatecompany.
Competitors offering
similar kind of insurance
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To determine and analyze the Market Potential of theBirla Sun Life Insurance Company in Batala City.
To study and determine the competitor (LIC) position
in the market.
To analyze market share of Birla Sun Life Insuranceproducts in Batala city.
To analyze the customer satisfaction regarding LIC and BSLI.
Objectives of study
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Particulars No. of respondents
Yes 40
No 10
1) Do you think that investment in Insurance sector
is good option?
0 10 20 30 40 50 60
No. of respondentsYes
No
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Particulars No. of respondents
BSLI 15
LIC 35
2) Which companys policy do you have?
05
10
15
20
25
30
35
No. of respondents
BSLI
LIC
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Particulars No. of respondents
LIC
No. of respondents
BSLI
Whole life plan 10 5
Retirement plan 5 2
Children plan 9 10
Health plan 3 2
Golden jubilee plan 3 0
Total 30 20
3) Which type of policy you have?
0
5
10
15
20
25
30
No. of respondents
LIC
No. of respondents
BSLI
Whole life plan
Retirement plan
Children planHealth plan
Golden jubilee plan
Total
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Particulars No. of
respondents
LIC
No. of
respondents
BSLI
Below 5 % 0 0
5-8 % 7 3
8-12 % 21 14
Above12 % 2 3
4) What percentage of interest you get from it?
0
5
10
15
20
25
No. of respondents
LIC
No. of respondents BSLI
Below 5 %
5-8 %
8-12 %
Above12 %
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Particulars No. of respondentsLIC
No. of respondentsBSLI
High interest 4 6
Good image of CO. 6 2
Growth of the CO. 9 6
Annual premium is
reasonable
5 2
Maturity benefits 6 4
5) Why do you invest in this(LIC/BSLI) company?
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Particulars No. of respondents
Yes 44
No 56
6) Do you think that investment in BSLI isbetter than LIC ?
44
56
No. of respondents
Yes No
) If h h ?
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Particulars No. of respondents
Guaranteed F.V. atmaturity
10
Growth rate 16
More ULIP plan 8
Risk covered 4
7) If yes, then why?
No. of respondents
10
16
8
4
6 Guaranteed F.V. at
maturity
Growth rate
More ULIP plan
Risk covered
All above
) f
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Particulars No. of respondents
LIC have govt. stake 24
Brand loyalty of LIC 14
Low A.P. than BSLI 12
8) If no, then why?
LIC have govt.
stake, 24
Brand loyalty of
LIC, 14
Low A.P. than
BSLI, 12
High return, 6
LIC have govt. stake
Brand loyalty of LIC
Low A.P. than BSLI
High return
9) Wh l h d h
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Particulars No. ofrespondents
LIC
No. ofrespondents
BSLI
Yes 24 16
No 36 24
9) When company launch new product , then any
information is given to you about that product?
No.
of
respondents
LIC
No.
of
respondents
BSLI
Yes
No
36
2424
16
05
10
15
20
25
30
35
40
Yes
No
10) I f t d thi k BSLI ill
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Particulars No. of respondents
Agree 20
Neutral 26
Disagree 14
Cant say 40
2026
14
40
0
5
10
15
20
25
30
35
40
Agree Neutral Disagree Cant say
No. of respondents
No. of respondents
10) In near future, do you think BSLI willhave high growth rate?
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Findings
90 people saying that investment in insurance sector is good option and
10 are saying no.40 people have BSLI policies and 60 have of LIC.
10 people of BSLI have Whole life plan, 4 have retirement plan, 22
have children plan, 4 have health plan.
56 people are saying that investment in LIC is better than BSLI, 44 are
saying investment in BSLI is better.Most of the people of both LIC and BSLI are getting rate of interest 8-
12%
Most of the people have children plan of BSLI.
Most of the people invest due to high interest of the policy in BSLIPeople have more faith in govt. Companies than the private.
14 people invest in LIC due to its brand loyalty.
26 people saying that BSLI growth will be neutral in near future.
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SUGGESTIONS
1) Information regarding new product should be provided to the
customers.2) The company should find out the no. of people who are not having
any of the insurance plans through an intensive market research and
motivate them to get insured.3) At some level Company should provide information to the customers
about the charges of the policy.
4) Company should target each and every class of the society.
5) Charges should be low of the policies.
6) Annual premium should be reasonable.
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LIMITATIONS
Some of the respondents were not cooperative.There are chances of biased information provided by the
respondents.
As the sample size is small compared to the total
population, therefore there cant be full accuracy.
The time was limited.
Area was limited.
C l i
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Conclusion
Here in this study we see that people have more policies of
LIC in comparison to BSLI. People have more faith in govt.companies than private. So it is necessary for BSLI Co. that it
should give more attention to that points or that areas where it
lacks for further future growth. Insurance sector is very wide
and co. can grow in future.
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Thank you for your time....