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
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:
Children ‘s Plans
Savings & A ; Investment 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 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: –
1 ) Survey has been made through Questionnaire
2 ) Presentation given by the Advisers of HDFC life.
The results are as following
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
There are some resources which has been used: –