Malathi Nidhila.v Sandhya Murali Ravi

By
Malathi Nidhila.v Sandhya Murali ravi
TYPE OF INSURANCE
LIFE INSURANCE GENERAL INSURANCE 1. Health insurance 2. Business insurance 3. Automobile insurance 4. Fire insurance etc.
INTRODUCTION
The major purpose of this study is to understand the functioning of the organization and to focus on the performance aspect, in the national market. The internship studys primary focus is to extract the corporate exposure in understanding more about the organization, its performance, the functioning about the various departments and the structure as a whole. It also upholds the close scrutiny of the market conditions prevalent as well as the ongoing competition that reveals the pinnacle at which the organization has strived to accomplish over this time span. The study is based purely on the information and other relevant data and materials obtained from organization.
Interviewing high official authorities and staffs have been done to get more accurate and up to date information.
HDFC Life Insurance Company Ltd. is one of Indias leading private life insurance companies. It was incorporated in 1977 with share capital of 10 Crores as a public limited company. It is a joint venture between Housing Development Finance Corporation Ltd and Standard Life, UK. HDFC are the main shareholders in HDFC Life, with 81.4%, while Standard Life owns 18.6%. HDFC has a wide network of 318 offices (which includes 77 offices of HDFC's wholly owned distribution company HDFC Sales Private Limited) catering to over 2,400 towns & cities spread across the country. HDFC was awarded No-1 Private Insurance Company in 2004 by the World Class Magazine Business World for Integrity, Innovation and Customer Care
PRODUCT PROFILE
Protections plans Retirement plans Savings plans Women plans Social plans Rural plans
VISION
The most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry. The most obvious choice for all.
MISSION
We aim to be the top new life insurance company in the market , this does not just mean being the largest or most productive company in the market rather it is a combination of several thing like Value for money of customer Professionalism in carrying our business Innovative product to cater to different needs of different customer
Organization Structure
CEO
Chief Financial Officer

Chief Medical Officer Vice President Administration Implementation & Control Chief Manager Finance & Control Vice President Actuarial Senior Manger Underwriting Senior Manager Investments Company Secretary Senior Manager Compliance Chief Manager Alternate Channel Alternate Channel & Group Life Assistant Vice President Human Resource Head Client Service Vice President Group Life Head Training
Vice President Information
Vice President Advertisement and Communication Chief Manager Product Development
FUNCTIONAL AREAS
1.
2. 3.
4.
5.
Sales Department Human Resource Department Finance & Accounting Marketing Department Operations Department
STRENGTHS
WEAKNESS ES
SWOT OPPORTUNI TIES
THREATS
10
STRENGTHS

Domestic image of HDFC supported by Prudential's international image is strength of the company Huge basket of product range which are suitable to all age and income groups. High quality service delivered by the company large capital and reserve base Large pool of technically skilled manpower with in depth knowledge and understanding of the market. Effective user of bank assurance. Dedicated staff and advisors of the company have helped the company to issue highest number of policies. The company also provides innovative products to cater to different needs of different customers.
WEAKNESSES
Heavy management expenses and administrative costs Low customer confidence on the private players Poor retention percentage of tied up agents.
OPPORTUNITIES

International companies will help in building world class expertise in local market by introducing the best global practices. Company can extend its operation to rural and sub-urban areas by developing products which suit their needs. Increasing the awareness of the insurance plans to reach all kind of population. Insurable population according to ING only 10% of population is insured which represents around 30% of the insurable population this suggest more than 300 million people with the potential to buy insurance remain uninsured.
THREATS
Other private insurance companies also vying for the same uninsured population. Because of Stiff competition from LIC and other private players like ICICI Prudential, Birla sun life. Changing government regulations Restriction and Interference by Insurance Regulatory and Development Authority Threat from the Government in changing the tax rates will have a direct impact on the demand of the Insurance
THANK YOU

Malathi Nidhila.v Sandhya Murali Ravi

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Malathi Nidhila.v Sandhya Murali Ravi

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Malathi Nidhila.v Sandhya Murali ravi

Chief Financial Officer

Vice President Information

Vice President Advertisement and Communication Chief Manager Product Development

SWOT OPPORTUNI TIES

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