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A survey of customer satisfaction for life insurance

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 SLIC

To 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 offices

29 regional offices

276 Branch offices

203 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 Insurance

ICICI prudential Life Insurance

Aviva Life Insurance

Max New York Life Insurance

SBI life Insurance

Bharti Axa Life Insurance

Reliance life Insurance

ING Vysya life Insurance

Undertaking 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 % basic

And 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 company

To cognize about importance of clients relationship with the company

To cognize the grounds for demand of a peculiar merchandise

To happen out what jobs are faced by client

To take the feedback of clients sing the service which are being

Provided by the company

To analysis the merchandise item of HDFC SLIC

Research Programme

Research can be defined as systematized attempt to derive new cognition. A research is carried out by different methodological analysis, which has their ain pros and cons.

The undermentioned mentioned types of information was used for the survey and analysis of

the aim of this undertaking, besides the secondary to informations proved to be assisting manus in

bordering up the industry scenario and besides the relevant subjects in the full undertaking study.

Design of Research – Descriptive

Beginnings Of informations – Primary informations and Secondary informations

Approach aa‚¬ ” Observation, Face to Face Interview, Individual Depth Interview

Instrument aa‚¬ ” Questionnaire

Technique of Sampling aa‚¬ ” Random sampling.

Size of Sample aa‚¬ ” 200 bing clients of HDFC SLIC

Data Collection: –

Primary Data

1 ) Survey has been made through Questionnaire

2 ) Presentation given by the Advisers of HDFC life.

Secondary Datas:

Books

Newspapers

Magazines

Newsletter

Internet

Television

Booklet

Policy Booklets

Deliverables

The results are as following

Dissertation Proposal

Review the scheme of HDFC SCIL that how it is attract client

Review the current state of affairs of HDFC SCIL

Analyze the jobs which are faced by clients

Review the bing literature on Customers satisfaction on HDFC SCIL in Panipat

Dissertation study

6. Resources

There are some resources which has been used: –

Books

Newspapers

Magazines

Newsletter

Internet

Television

Booklet

Policy Booklets

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