By Siva sankar g 1225112247

Insurance

Industry overview Company introduction Need of the study Objective of the study Research design Findings Recommendations

The sector facilitates long-term funds for infrastructure development and simultaneously strengthens the risk-taking ability of the country. Over the past few years, many foreign insurance companies have ventured into the Indian Life insurance penetration in India is about 4 per cent of the countrys gross domestic product (GDP) Indian life insurance sector collected new business premiums worth Rs 11,742.7 crore (US$ 1.92 billion) for April-May 2013.

 HDFC

Life, one of India's leading private life insurance companies, offers a range of individual and group insurance solutions. HDFC Ltd. holds 72.37% and Standard Life Ltd. holds 26.00% of equity in the joint venture. Key strengths:

Financial expertise Ethical values Range of solutions

 Comparison

of different products gives us the performance of different variety of products With the increasing new players with stiff competition the company should come out with innovative products Company should analyze their different products, and should get a real feedback from customers.

 To

analysis the product details of HDFC Standard life Insurance Company limited. To find Points of Parity and Points of Difference of different products from HDFC life. To find out factors that influence customers to purchase insurance policies and give suggestions for further improvement.

 Data
o

collected

Primary sources: questionnaire, interview with the client Secondary sources: company brochures, internet, books, etc.

Sampling
o o

Sample size-200 Sampling technique- simple random technique

 The

analysis of the data collected is done by using the simple statistical techniques. Some of the analyzed data in the graphical form:
1. Which type of product you would like to take for your further investments?

80

70

60

50

40

30

20

10

0 Product which gives security for money product with more returns both 5.Which type of product you would like to take for your further investments?

2. What do you feel, Money invested in secure products?

50 45 40 35 30 25 20 15 10 5 0 Stagnated for long term gives good returns for future can be used for protection 9.What do you feel, Money invested in secure products?

The overall respondents were willing to invest for a long term and in the traditional plans considering that would give them security for their investment and better investments. From the age group of the respondents we can see that most of the young age people near 30s were who could bear risk also want some security for their money. And from the survey we can see that HDFCs products are not so aware in the market and the company should look into its advertising and promotion part to make the customer aware of its products.

 More

hybrid products Better services Customer awareness Simplified products Better promotional aspects Policy premiums

 From

the study we come to know that most of the respondents are willing to invest for the long term hoping of better returns. With more no of competitors in the insurance industry, new innovative products are penetrating into the market. So we can conclude that the insurance industry with a calculated risk gives higher returns.