India`s one the taking life insurance company is HDFC Standard Life Insurance Company Ltd. which gives assortment of single and group insurance solutions.
It is a joint venture between HDFC Ltd. ( Housing Development Finance Corporation Limited ) . It compete one of the best LIC Insurance Company in the market merely because of its cheaper rate, scheme, program and characteristics.In these yearss, insurance is merely one concern which has an consequence on all walks of life. Insurance industry dwell in a really of import topographic point among fiscal services run in the Earth.
Therefore a proper cognition of what insurance is and what intent does it function to single or an organisation is hence necessary.Today`s Insurance concern turning at the rate 15-20 % ( per centum ) yearly and soon is of the order of Rs 1560.41 billion ( for the fiscal twelvemonth 2006-2007 ) . It adds about 7 % to the county`s Gross Domestic Product ( GDP ) with banking services. And gross premium aggregation is about 2 % of GDP and Funds available with LIC for Investments Are * % of the GDP.
Reasons to choose this subject: -
Insurance is easy manner to protect our ego and our household. As Indian investors are now more open to capital markets and have started understanding its working, they want to multiply their money quickly.There are some grounds of choosing this: -To acquire farther information about bing customer`s perceptual experience about HDFC SLICTo analyse the quality of service the clients are acquiring from the company.The ground for taking this organisation: -
As a pupil of direction, I had to take a company which carry on its activities on a big graduated table, which has strong distribution web and which was diversifies into assorted concern.
The company has been successful in understanding the consumers market and the rivals and plants in gait with the planetary technological developments.The company is diversified into assorted concerns such as common financess, safety bonds, on-line trading and other fiscal instruments.Due its strong distribution and service web and concert launch scheme, alone bundles HDFC has emerged as a strong Player in the market.HDFC SLIC has: -6 Zonal offices29 regional offices276 Branch offices203 Spoke location
Rival of HDFC SCIL
There are many rivals of HDFC SCIL in the market as following.Life Insurance Corporation of India ( LIC )Tata AIG life Insurance Co. Ltd.Birla Sun Life InsuranceICICI prudential Life InsuranceAviva Life InsuranceMax New York Life InsuranceSBI life InsuranceBharti Axa Life InsuranceReliance life InsuranceING Vysya life InsuranceUndertaking Background
The History of life insurance in India dates back to 1818 when it was conceived as a mean to supply for English Widows.In those yearss a higher premium was charged for lives so the non-Indian lives, as Indian lives were considered more hazardous to cover. But the Bombay common life insurance society started its concern in 1870.this is the first company which charges the same premium for both Indian and non-Indian lives. Then foremost general insurance company established in the 1850 in Calcutta by the British. The insurance concern was about at the terminal of abroad company till the terminal of 19th century.The insurance concern lifts at a quicker gait after independency.
In 1956, the authorities of India brought together over 240 private life insurance companies and provident societies under one nationalized monopoly corporation and Life Insurance Corporation ( LIC ) was born. In 1972 the general insurance Industry was nationalized, with this, about 107 insurance company were combined and clustered into four companies- National Insurance Company, New Indian Assurance Company, Oriental Insurance company and united India Insurance Company.After so many clip on 14th August 2000 HDFC Life insurance company Ltd. is Established in India. It is a joint venture between HDFC Limited - India 's foremost lodging finance establishment, and besides it is a Group Company of the Standard Life Plc, UK. HDFC is the bulk stakeholder in the insurance JV with 81.
4 % basicAnd Standard of as a staple 18.6 % Mr. Deepak Satwalekar is the MD and CEO Of the venture. In India, It is offering a assortment of single and cluster insurance solutions.
Bing a joint venture of top fiscal services groups, , The Company 's new concern premium income stood at Rs. 1,839.70 Crores as on 31 December 2008 ; it has covered over 812,811 lives so far.There are following list of policies and merchandises which offer by HDFC Standard Life Insurance:
Protection Plans
Children 's Plans
Retirement Plans
Savings & A ; Investment Plans
Health Plans
Group Plans
Undertaking Aims and Aims
Proper apprehension and analysis of life insurance industry in Panipat town.To understand satisfaction of clients sing the merchandises offered by the companyTo cognize about importance of clients relationship with the companyTo cognize the grounds for demand of a peculiar merchandiseTo happen out what jobs are faced by clientTo take the feedback of clients sing the service which are beingProvided by the companyTo analysis the merchandise item of HDFC SLIC
