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A PROJECT ON:
PUBLIC RELATIONS OF
LIFE INSURANCE CORPORATION OF INDIA
SUBMITTED BY:
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T.Y.B.M.S. (SEMESTER V)
Name of college
SUBMITTED TO:
UNIVERSITY OF MUMBAI
DECLARATION
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Public Relations Of LIC Of India
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PLACE
CERTIFICATE
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SIGNATURE OF PROJECT SIGNATURE OF GUIDE
CO-CORDINATOR
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SIGNATURE OF COLLEGE SIGNATURE OF
PRINCIPAL EXTERNAL EXAMINER
ACKNOWLEDGEMENT
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Public Relations Of LIC Of India
I am also thankful to all those seen and unseen hands & heads, which have
CONTENTS
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Public Relations Of LIC Of India
11 39
CORPORATE PROFILE
12 PUBLICS IMPORTANT TO LIC 43
13 RELATIONSHIP WITH SIGNIFICANT PUBLICS 44
14 CONSUMER RELATIONS IN LIC 46
15 FINANCIAL RELATIONS IN LIC 52
16 COMMUNITY REALTIONS IN LIC 52
17 AIM OF CORPORATE RELATIONS FULFILLED AT LIC 53
18 CORPORATE POLICY OF LIC ON PUBLIC RELATIONS 55
19 PUBLIC RELATIONS ACTIVITIES OF L.I.C 58
20 CONCLUSION 63
21 BIBLIOGRAPHY 64
What Is Public?
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Public Relations Of LIC Of India
Relations:-
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The term PR is also applied to the profession responsible for handling such
assignments. Corporations, govt. agencies, politicians & entertainers are
among these who use public relations. Their publics vary from employees
& shareholders to an entire community or members of the news media. The
communication between an organization & its public ranges a simple news
release to a sophisticated campaign featuring films, ad’s speeches &
television appearances. Such communication is aimed at gaining the
goodwill of the public. The basis of any effective PR campaign is public
benefit. If an organization does not serve the needs of public, the public will
not support it. PR experts help an organization learn what the public wants
& then establish policies that reflect concern for public’s interests.
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Public Relations Of LIC Of India
Frank Jefkins: Public Relations means what it says- relations with the
public. It is practically a self-defining term. It aims to create and maintain
confidence. It is a system of communication to create goodwill. It produces
that intangible quality or asset-goodwill, and earns credit for achievements.
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Public Relations Of LIC Of India
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course gained importance later through the Public Relations Society of India
(PRSI) in 1958.
Human relations:
It is getting along well with the word public both internally or externally.
No person can work independently & everyone who works in an
organization directly or indirectly depends on one another.
Empathy:
Empathy means feeling with the other person to analyze others point of view
& is regarded as primary pre-requisite for a satisfying experience in a
relationship where a certain degree of depth of understanding is expected.
Persuasion:
Dialogue:
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Public Relations Of LIC Of India
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3. To win friends.
4. To influence people.
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14. To help the public to love life and work for better or for
worse without conditions.
18. To prepare and supply the public with information about the
Organization like price, quality, export, employment, and
Other.
Special features
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and practice.
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Policy:
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Publicity:
Product Publicity:
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Community Relations:
Shareholders relations:
Relations with the corporate stock- holders are more important to attract
public money. This takes the form of communication between the company
and the shareholders in particular and also the investment community in
general. It is necessary for the development and acceptance of the company
among the investors by broadening the exposure of the company’s policy
and financial results in the investment community. This function includes
preparation of annual reports, quarterly reports, dividend cheque inserts etc.
It has to plan and stage the annual meetings of stockholders and appearances
before meetings of security analysis.
Promotion Programmes:
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Donations:
Employee Publications:
Guest relations:
As experience has shown, the world stands divided into three sets of people:
1. There are those who know you and like you.
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2. There are those who know you and do not like you, and
The third are usually the large majority. Now the aim is:
1. To reach a position where those who know and like you stay
that way;
2. Where those -.who know you and do not like you, change
their opinion;
3. Those who neither know you nor care wish they could meet
you and do business with you.
The technique involved in the process is like that of the one followed by the
fisherman who chooses his bait not by his own taste but by the taste of the
fish.
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The answer to the question, 'Why Public Relations?' is well explained with
the help of the following paragraphs:
1. Communication:
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3. Information Load:
Also called message load or quantity. The sceptic will, of course, draw our
attention to the flood of information to which we are all exposed today. The
proper reply to this is that this flood is largely without direction and that it is
incomplete or inaccurate. Information must be prepared. Essential
information must be separated from trivial matter, and the interest of the
receiver must be aroused in the right direction. In the realization that
ignorance, the inability to appreciate or recognize, superficial knowledge is
extremely likely to result in dislikes, dissatisfaction and outright rejection
with all their disastrous consequences.
What we require is a fair means of information which eliminates existing or
awakened suspicions, which builds up understanding, and creates
confidence. This is what we call
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Public Relations.
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There has been misconceived opinion about the scope or field of public
relations activities. In lectures and articles published one is apt to gain the
impression that public relations concern industry and commerce only. In
such an instance it can only be said that one tends to overlook the fact that
public relations, particularly in this decade, has entered all sectors of public
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life, not excluding religion, and that it how has a virtually unlimited field of
application. The following examples demonstrate the wide field of public
relations activities in industry and commerce. In our market economy there
are information gaps which cannot be filled by the interaction of supply and
demand via prices, costs or wages. This is when public relations activity
steps in. It provides information on Planning technical and organizational
developments, inventions and their potential utilization, or it issues at
regular intervals company reports which provide a deeper insight into the
structure of the corporation than the public can otherwise obtain. The
relations activity is becoming increasingly necessary for the procurement of
economically essential production factors. It makes it easier for corporations
to tap the money-market or to finance their projects by issuing bonds or
shares. It can also help them to find new personnel when necessary, and thus
level out personnel fluctuation without reducing the desired working
mobility. Finally it is easier for a corporation to acquire land from a
community if the corporation cultivates public relations and endeavors to
bring its own interests in harmony with those of the community.
Public relations activity may support marketing. In its various forms it may
contribute decisively to successful frictionless business activity. The
principles of reciprocity underlying public relations is for the corporation an
incentive to improve performance, because it helps the Corporation to
overcome a difficult situation. Today the public relations profession has
entered even in to the fields of hospitality, tourism, institutes, in education
and to a variety of others.
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6. To pay due regard to, and uphold, human dignity, and to recognize the
right of each individual to judge for himself;
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3. I believe that sound public relations comprises policies and deeds as well
as words; that it must deal in truth rather than in Celestin; that it must
seek to clarify the issues of our times rather than confuse them
5. I believe that the democratic process must prevail in the market place of
ideas, as well as the political and economic affairs.
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6. I believe that the public interest takes precedence over the interests of
those I represent; and I conceive my function as being to assist in
confirming the interests of those I represent
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Letters
They are sent out with every kind of enclosure; pamphlets and
Leaflets, order blanks, samples, pictures, return post cards, and many others.
The well-written letter has a major advantage over all other media it is
directed personally to an individual. If it designed to please and flatter him
rather than to irritate him as an invasion of his privacy, it commands his
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attention for a little while perhaps just long enough to motivate him to do
what the writer wants him to do. Mail is a personal thing. A person likes to
receive a letter written for him as well as addressed to him. He likes to
express regard for him, offer him a better job, make a promise or enclose a
cheque. When a publicist sends out a letter written for the client's benefit
rather than for the recipient's, privacy is being presumed upon. The recipient
may resent it. He may throw the letter away without reading it, or read it
only to turn against the writer. Individually written and addressed letters
have long constituted his backbone of international communication. Offset
letters are being used
in increasing volume to establish a direct speedy line of communication with
specific publics- Letters are used on a regular or spot-news basis to reach
employees, dealers, alumni, or workers in a fund-raising or legislative
campaign.
The Telephone
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Word of Mouth
Word of mouth spreads like wild fire. If the subject and content are right, it
can burst into spontaneous combustion just as an entire forest may suddenly
be overrun by conflagration. Through word of mouth, rumor and innuendo
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may spread with extreme speed and spontaneity if the subject is close to the
emotion of people. Feeling and thought must quickly take wing on word of
mouth. In stimulating a word-of-mouth campaign.
The important thing is to present subject matter of such interest as to cause
people to repeat it to others.
Word of mouth is perhaps the most subtle of publicity tools. It takes the
form of gossip and slander at times if timely action is not taken to control it.
Though it is the hardest to control, all our efforts need to be made. Its
manipulation is not subject to cut-and dried mechanics, as is the case with so
many publicity media and instruments. The things that contribute to word-
of-mouth circulation are:
Newsletter
The commercial field has long made good use of newsletters. These have a
bright future. Newsletters tend to fit the times these days. People have
fragmented interests. There are certain things they want to know a lot about,
and other things they don't want to hear anything about. Newsletters have
the advantage of speed. They are quick to read. The public relations use of
newsletters is spreading rapidly into non-profit fields as well. Associations
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and professional societies particularly find the formal effective. Its use in
politics and lobbying is burgeoning.
With this format, users can reach constituents quickly on matters having
both urgency and importance. The person-to-person nature invites reading.
Post Cards
Post cards are quick and easy to prepare, quick and easy for the
Recipient to absorb, economical to mail to constituents and an effective
adaptation of direct mail to reach large numbers of people with a message
that can be punched home in a paragraph.
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Charts
Charts are by far the most-used visual aid. A chart may be painted, printed
or drawn. It must be large enough and simple enough to be seen and
comprehended in the presentation setting.
Flannel Boards
Magnetic Boards
Magnetic Boards are much like flannel boards, except that magnets permit
the use of heavier three dimensional visuals.
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Electro writers
Tele Lecture
Facsimile
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It sends between distant cities via telephone lines, exact copies of blueprints,
layouts, and other visual materials- It is now used increasingly to transmit
copy between the offices of an agency and clients or between an
organization and a communications medium.
Planning Process of PR
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Public relations are not merely a process of getting stories and pictures into
newspapers. It is much more. It has to be properly planned, orderly
executed, and a number of details need careful attention. Public relations
costs money, requires manpower, needs expertise, and consumes time and
resources. So it should be
well planned and executed in an orderly manner.
PR Objectives
Publics
The next step is to decide who is the audience to be reached i.e. local,
regional, national, or international. And apart from geographical area, it
should be considered if any specialized audience or a section of the
community or professional people is also to be reached.
Message
After deciding the public the company has to decide what message they
want to pass through the campaign, what is it they want the people to know
about them or what they want to tell or inform the public about.
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Strategy
Tactics
Along with a good strategy a company also needs to use some very good
tactics for its campaign because there are competitors in the market and the
company has to stand on top of all of them.
Time Scale
The public has to decide the time scale in which they will complete the
campaign. They have to set a specific time. Also the decision about the
commencement of campaign, duration, repetition, etc. is to be made well in
time.
Resources
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The publicist has also to think about the resources in terms of money and
staff available to him. The campaign has to be planned keeping in view the
resources which the publicist would be able to mobilize.
Selection of Media/Resources
Another point that requires a decision is about the media to be employed for
the campaign: whether publicity is to be conducted with one medium or
more than one or through multi-media.
Evaluation
After deciding upon the above things the publicist should evaluate the whole
process to check whether everything is properly being done or not or
whether they have to add anything else or not, etc.
Review
After evaluation again there should be a review of the entire thing to give it a
final check.
Analysis
After the campaign there should be an analysis of the entire process sp that
they will come to know whether the campaign was successful or not and if
not then where it went wrong. If any draw backs are pointed out then again
the whole process is repeated from the point of identifying the publics.
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It has a network of over 2000(2048) branches and more than nine lakh
agents. Over 47 years, LIC has become a household name for providing
security for a lifetime and is synonymous to life insurance in India.
LIC ranks No.1 in the list of top 500 companies on the basis of Net
Worth(Rs. 15, 47, 951 million) as well as Net Profit(2,66,277 million)-
Dun & Bradstreet (India 500
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Conduct all aspects of our business keeping in view the interests of the
community and the national priorities; Provide insurance cover and financial
security to every insurable segment including the socially and economically
weaker sections of the society.
provide them prompt, efficient and courteous service; act as trustees of their
funds and invest them to their best advantage; build and maintain enduring
relationship;
keep them informed about our products and services etc.
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Budget:
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Staffing Of PR Department
The Director-PR operates from the central office and has under him a Chief
PRO. Each Zonal Office has a Zonal Manager-PR under whom is the
Regional Manager-PR. Further under him is the Assistant Secretary who
works with his Subordinate staff to fulfill the day-to-day activities of the PR
Department.
Advertising
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Press Releases are issued both by the central office as well as the various
zonal offices.
LIC has time and again joined itself with various community development
and awareness programmes for the cause of rural development and
infrastructure development.
INTERNAL PUBLICS
Employees
Employee’s families
Staff Unions
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EXTERNAL PUBLICS
Customers i.e. policy holders
Prospective Customers
Government Agencies
Banks and Financial Institutions
Statutory Bodies e.g. IRDA (Insurance Regulatory and Development
Authority)
Social Organizations
Lawyers
Local Administration
Media
General Public
Auditors
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EMPLOYEE RELATIONS
LIC shares a good rapport with its employees. There are various staff unions
to take care of the employees rights. The company shares a cordial and
harmonious relationship with these unions.
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I. HOUSE JOURNALS
II. INTERACTION
III. REWARDS
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In consonance with the changes taking place in the insurance market, the
corporation has undergone a transformation, simultaneously requiring a
revamp in its image. Systematic and focused PR initiatives and widespread
publicity have resulted in markedly improved visibility. The corporation has
emerged with a much younger and sleeker image.
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Oral Communication
Oral communication with the consumer public is the most effective means
of presenting facts and creating understanding of the organization’s policies
and practices.
Employee-Consumer Communication:
The harmonious relationship that LIC has, through the years , built and
maintained with its customers has only been possible due to its dedicated
and committed team of Development Officers and scores of Insurance
Agents throughout the country.
Press Conferences
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Audio-Visual Communication
Trans-slides
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Printed Communication
Press Release
Press releases are frequently handed out to the media by the local PR
department on behalf of the company. These generally comprise of any
subject or issue concerning the company, containing information for policy
holders or any item of news value to the media and its readers.
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The corporation takes out its annual working results and several other
publications from time to time to keep the public abreast of the happenings
and achievements at LIC.
Financial Results
Booklets, Brochures and Pamphlets are generally taken out to inform its
internal and external public about its various new schemes and act as an
effective medium of print communication.
These tools are not only an advertising medium but also a very effective PR
tool. LIC uses posters and hoardings to get quick public notice. Posters and
hoardings are widely placed throughout the city at busy intersections like
subways, railway stations, roadsides, bus shelters, etc.
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Website
LIC has tied up with HDFC Bank, ICICI Bank, UTI Bank, Bank of Punjab,
Global Trust Bank, Corporation Bank, The Federal Bank Ltd., Citibank, and
service providers like Bill Junction.com, timesofmoney.com to offer the
online premium payment facility to its customers in select cities.
Information Kiosks
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The purpose of such a campaign is ‘to strengthen the relationship with the
customers and to build bridges of understanding.
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A. CORPORATE IDENTITY
B. CORPORATE IMAGE
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C. CORPORATE CITIZEN
A. CORPORATE IDENTITY
Company Logo
The company’s logo has become synonymous with insurance and security in
India. It helps to identify the company easily.
Sign-up Line
Company Publications
Citizens Charter
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B. CORPORATE IMAGE
C. CORPORATE CITIZEN
With all its PR initiatives and activities, since its establishment, LIC has
proved to be a successful corporate citizen.
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A clearly laid down Public Relations Policy, therefore, is essential to set the
goals, indicate the strategies and give proper direction to all levels in the
area of Public Relations.
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Mission
Goals
1. Promote within the Corporation greater awareness of the changing
environment and he need to align the corporate policy to the emerging
situation.
Strategy
1. Develop excellent relations with the totality of the media-print,electronic
and agency owners and reporters by regular exchange of information with
them.
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Action Plan
1. Keeping the objectives, philosophy and the strategies in view, drawing-up
annual PR plans by Branches, Divisions, Zones & Corporate Office.
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6. Organize events like inauguration of new B.O., D.O., Z.O. or any arm of
the Corporation (diversification) etc. as public functions to project
corporate image.
PRESS CONFERENCE
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Press conference & interview are arranged periodically by all L.I.C. offices -
i.e. , Central, Zonal, Divisional and Branch offices at the time of launching
any new scheme and to inform about the policies , programmes and
activities to the press so that it can be publicized.
LIC has its own web site Licindia.com which provides information about
LIC and its subsidiaries and the products offered by them.
With a view to providing quick and accurate service its Customers LIC has
introduced on-line service through front – end terminals in 1993 branches
and soon all our customers will be able to benefit by this.
RALLY ORGANISATION
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A claims review committee was being formed at the corporate level with a
retired Judge as one of the members and it handles grievances arising out of
repudiation of claims etc. Similar committees are also constituted at Zonal
level.
Press Releases
Press releases regarding important news are released from time to time so
that people are kept informed and they know about them.
Customer Meets
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Publicity Pavilion
A high profile committee has been constituted by the Central office with
eminent persons from the consumer’s movement being its member to advice
and guide LIC on maters concerning consumer interests.
Exhibitions
LIC arranges its various schemes and exhibitions so that it can display its
various schemes and plans.
Citizens Charter
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A unique facility of free phone call service is being provided to the policy
holders of Mumbai city to enable them to have easy access to grievance
redressal officers over the phone.
Sponsorship
LIC sponsors many events like chess tournaments table tennis
tournaments for the employees and also for the general public. It has
also sponsored a health camp organized by ‘Masoom’ – an organization
of understanding and fraternity.
LIC distributes dairies and calendars to its employees and also to the general
public every year.
Publicity Stalls
Publicity stalls are been put up by LIC at different fairs and melas to
publicize the corporation and its schemes and plans.
Public Functions
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Posters and banners are set up at strategically important public places such
as Airports, Railway stations, Bus terminals, shopping counters an at the
reception counters of the business premises. This enables the policy holders
to access information about LIC & its products etc.
Insurance Week
Advertisement about LIC are frequently been telecast on radio and satellite
channel.
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LIC has also advertised about its products and the corporation even in
Kumbh Mela.
Training Programmes
Training programmes are arranged by LIC for its employees so that they can
be trained for the purpose of public relation activities.
Meetings
CONCLUSION
Public Relation will not sell goods and Services but it is bound to create an
atmosphere which will make the free enterprise, a responsible enterprise.
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Public Relations, in fact Will prove to be the most effective tool for
communicating with the
People who are still remote from industry for convincing them that
Corporate objectives are ultimately in the interest of the public.
The PR Mantra has now become pervasive. Neither a individual nor the
organization & not even the government Or a UN body can thrive or sustain
in this age without effectively strategizing PR.
Bibliography
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Webliography
• LIC India.com
• AltaVista.com
• Find Articles.com
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