Insurance:

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Life insurance
Disability insurance
Auto insurance
Home insurance

1. Page |6 INDUSTRY PROFILE WHAT IS INSURANCE? Insurance may be defined as social

device or tool to protect the economic value of the Life and other assets. Under the plan of
Insurance a group of people are brought together and their share of money is pooled to
manage the loss suffered by any of them. Insurance is defined as the equitable transfer of
the risk of a loss, from one entity to another, in exchange for payment. It is a means of
indemnity against a future occurrence of an uncertain event. Insurance is a contract whereby
in return of the payment of the premium by the insured the insurers pay the financial loss
suffered by the insured as a result of the loss by the unforeseen events. The term risk is
used to define the probability of loss. Risk management, the practice of appraising and
controlling risk, has evolved as a discrete field of study and practice. Insurance is a pool
where large number of people exposed to similar kind of risks makes contribution to the
common fund out of which the losses suffered by the unfortunate few due to accidental
events are made good. The sharing of risk among large group of people is the basis of
insurance.
2. 7. Page |7 CHARACTERISTICS OF INSURANCERisks which can be insured by private
companies typically share sevencommon characteristics: 1. Large number of similar
exposure units: Since insurance operates through pooling resources, the majority of
insurance policies are provided for individual members of large classes, allowing insurers to
benefit from the law of large numbers in which predicted losses are similar to the actual
losses. 2. Definite loss: The loss takes place at a known time, in a known place, and from a
known cause. The classic example is death of an insured person on a life insurance policy.
Fire, automobile accidents, and worker injuries may all easily meet this criterion. 3.
Accidental loss: The event that constitutes the trigger of a claim should be fortuitous, or at
least outside the control of the beneficiary of the insurance. The loss should be pure, in the
sense that it results from an event for which there is only the opportunity for cost. Events that
contain speculative elements, such as ordinary business risks or even purchasing a lottery
ticket, are generally not considered insurable. 4. Large loss: The size of the loss must be
meaningful from the perspective of the insured. Insurance premiums need to cover both the
expected cost of losses, plus the cost of issuing and administering the policy, adjusting
losses, and supplying the capital needed to reasonably assure that the insurer will be able to
pay claims. 5. Affordable premium: If the likelihood of an insured event is so high, or the cost
of the event so large, that the resulting premium is large relative to the amount of protection
offered, it is not likely that the insurance will be purchased, even if on offer. Further, as the
accounting profession formally recognizes in financial accounting standards, the premium

cannot be so large that there is not a reasonable chance of a significant loss to the insurer. If
there
3. 8. Page |8 is no such chance of loss, the transaction may have the form of insurance, but not
the substance.6. Calculable loss: There are two elements that must be at least estimable, if
not formally calculable: the probability of loss, and the attendant cost. Probability of loss is
generally an empirical exercise, while cost has more to do with the ability of a reasonable
person in possession of a copy of the insurance policy and a proof of loss associated with a
claim presented under that policy to make a reasonably definite and objective evaluation of
the amount of the loss recoverable as a result of the claim.7. Limited risk of catastrophically
large losses: Insurable losses are ideally independent and non-catastrophic, meaning that
the losses do not happen all at once and individual losses are not severe enough to bankrupt
the insurer; insurers may prefer to limit their exposure to a loss from a single event to some
small portion of their capital base.
4. 9. Page |9 HISTORY OF INSURANCEOrigin of InsuranceAlmost 4,500 years ago, in the
ancient land of Babylonia, traders used tobear risk of the caravan trade by giving loans that
had to be later repaidwith interest when the goods arrived safely. In 2100 BC, the Code
ofHammurabi granted legal status to the practice that, perhaps, was howinsurance made its
beginning.Life insurance had its origins in ancient Rome, where citizens formedburial clubs
that would meet the funeral expenses of its members as wellas help survivors by making
some payments.As European civilization progressed, its social institutions and
welfarepractices also got more and more refined. With the discovery of newlands, sea routes
and the consequent growth in trade, medieval guildstook it upon themselves to protect their
member traders from loss onaccount of fire, shipwrecks and the like.Since most of the trade
took place by sea, there was also the fear ofpirates. So these guilds even offered ransom for
members held captive bypirates. Burial expenses and support in times of sickness and
povertywere other services offered. Essentially, all these revolved around theconcept of
insurance or risk coverage. Thats how old these concepts are,really.In 1347, in Genoa,
European maritime nations entered into the earliestknown insurance contract and decided to
accept marine insurance as apractice.The first step...Insurance as we know it today owes its
existence to 17th centuryEngland. In fact, it began taking shape in 1688 at a rather
interestingplace called Lloyds Coffee House in London, where merchants, ship-owners and
underwriters met to discuss and transact business. By the endof the 18th century, Lloyds had
brewed enough business to become oneof the first modern insurance companies.
5. 10. P a g e | 10Insurance and Myth...Going back to the 17th century in 1693, astronomer
Edmond Halleyconstructed the first mortality table to provide a link between the lifeinsurance
premium and the average life spans based on statistical laws ofmortality and compound
interest. In 1756, Joseph Dodson reworked thetable, linking premium rate to age.Entering
Companies...The first stock companies to get into the business of insurance werechartered
in England in 1720. The year 1735 saw the birth of the firstinsurance company in the
American colonies in Charleston, SC. In 1759,the Presbyterian Synod of Philadelphia
sponsored the first life insurancecorporation in America for the benefit of ministers and their
dependents.However it was after 1840 that life insurance really took off in a big way.The
trigger: reducing opposition from religious groups.The Growing Years...The 19th century saw

huge developments in the field of insurance, withnewer products being devised to meet the
growing needs of urbanizationand industrialization. In 1835, the infamous New York fire drew
peoplesattention to the need to provide for sudden and large losses. Two yearslater,
Massachusetts became the first state to require companies by law tomaintain such reserves.
The great Chicago fire of 1871 furtheremphasized how fires can cause huge losses in
densely populated moderncities. The practice of reinsurance, wherein the risks are spread
amongseveral companies, was devised specifically for such situations.There were more
offshoots of the process of industrialization. In 1897,the British government passed the
Workmens Compensation Act, whichmade it mandatory for a company to insure its
employees againstindustrial accidents. With the advent of the automobile, public
liabilityinsurance this first made its appearance in the 1880s and gainedimportance and
acceptance.In the 19th century, many societies were founded to insure the life andhealth of
their members, while fraternal orders provided low-cost,members-only insurance.
6. 11. P a g e | 11Even today, such fraternal orders continue to provide insurance coverageto
members as do most labour organizations. Many employers sponsorgroup insurance policies
for their employees, providing not just lifeinsurance, but sickness and accident benefits and
old-age pensions.Employees contribute a certain percentage of the premium for
thesepolicies.In IndiaLife Insurance in India existed from long time. The modern concept
ofInsurance was brought by Bruisers in India, and Oriental InsuranceCompany was the first
Insurance Company who did Insurance for theIndian in 1818 and was established in Calcutta
nowadays Kolkata. Thendue to no interference of government in it, private market players
ruledthe market as they want to, that is why government intervened in betweento protect the
interest of the mass and to safeguard the money involved init. All private companies were
took over by Government and Insurancemarket was turned to Public sector and Life
Insurance Corporation ofIndia was formed in 1956 to make the Insurance reachable at
remoteareas and that even by low premiums or better said as affordable premiumso as to
secure their life.From the beginning of Insurance in India till now a lot of changes havebeen
made but the most significant change was in 1999, when IRDA wasformed. IRDA means
Insurance Regulatory and Development Authority.This was formed to rethink upon opening
the insurance sector for thePrivate players again but along with that to have a check upon
thoseprivate players an IRDA has to act as a governing body to safeguard theinterest of the
public whose money is involved in it.From that time i.e. from the year 2001 insurance sector
was opened forthe private players too. Since then Insurance sector is on the boom
andbusiness is flourishing and a lot of private players are coming intobusiness. Here the
private players doesnt indicate to Indian PrivateCompanies but also foreign players are also
involved in it, but to managethe money flow in and outside the country IRDA takes care of
thecontribution of the money by foreign partners of private insurancecompanies. To control
that IRDA has set a limit of FDI i.e. 26%.
7. 12. P a g e | 12The evolution of Insurance in India can be summarized as:-Year
Changes1818 Oriental Insurance Company. The first Insurance company in India1870
Bombay Mutual Life Assurance Company. First Indian Insurance company.1912 The Indian
Life Assurance Company enacted the first law to regulate the life insurance business in
India1926 The Indian Assurance company act enacted to enable the government to collect

the statistical information about the insurance. The earlier legislation consolidated and
amended the life insurance act with the objective of protecting the interest of insurance in the
public.19381956 245 Indian and foreign players and prudent societies are taken once by
Central govt. And nationalizedThe number of companies in Insurance particularly in Life
Insurance haschanged drastically now the number is in 29.
8. 13. P a g e | 13 Types of Insurance ContractWHAT IS LIFE INSURANCE?Life insurance is a
contract for payment of money to the person assured (or tothe person entitled to receive the
same) on the occurrence of the event insuredagainst. Usually the contract provides for i.
Payment of an amount on the date of maturity or at specified periodic intervals or at death,
whichever is earlier. ii. Periodic payment of insurance premium by the policy holder to the
corporation who provides the insurance. Who can buy a life insurance policy?Any person
above 18 years of age, who is eligible to enter into a valid contract,Subject to certain
conditions, a policy can be taken on the life of the spouse orthe children. What is a Whole
Life Policy?When most people think of life insurance, they think of a traditional whole
lifepolicy. These are the simplest policies to understand: You pay a fixed premiumevery year
based on your age and other factors, you earn interest on the policyscash value as the years
roll by, and your beneficiaries get a fixed benefit afteryou die.The policy takes you into old
age for the same premium you started out with.Whole life insurance policies are valuable
because they provide permanentprotection and accumulate cash values that can be used for
emergencies or tomeet specific objectives. The surrender value gives you an extra source
ofretirement money if you need it.
9. 14. P a g e | 14 What is an Endowment policy?Unlike whole life, an endowment life
insurance policy is designed primarily toprovide a living benefit and only secondarily to
provide life insuranceprotection. Therefore, it is more of an investment than a whole life
policy.Endowment life insurance pays the face value of the policy either at theinsureds death
or at a certain age or after a number of years of premiumpayment.Endowment life insurance
is a method of accumulating capital for a specificpurpose and protecting this savings
program against the savers premature death.Many investors use endowment life insurance
to fund anticipated financialneeds, such as college education or retirement. Premium for an
endowment lifepolicy is much higher than those for a whole life policy. What is a Money
Back policy?This is basically an endowment policy for which a part of the sum assured ispaid
to the policyholder in the form of survival benefits, at fixed intervals,before the maturity date.
The risk cover on the life continues for the full sumassured even after payment of survival
benefits and bonus is also calculated onthe full sum assured. If the policyholder survives till
the end of the policy term,the survival benefits are deducted from the maturity value.
10. 15. P a g e | 15 SCOPE OF LIFE INSURANCE Why does one need Life Insurance?Life
insurance is designed to protect you and your family against financialuncertainties that may
result due to unfortunate demise or illness. You can alsoview it as a comprehensive financial
instrument as a part of your financialplanning offering you savings & investment facilities
along with cover againstfinancial loss. By choosing the right policy as per your needs i.e.
customizedsolutions, you will be able to plan for a secure future for yourself and yourloved
ones. i. Choosing the right plan. ii. Identifying the right plan basis your needs is the first
crucial step towards insurance planning. At Metlife India Insurance we help you through this

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decision by identifying your various needs and offering plans that are customized for you.
You may also choose a plan for yourself by identifying the life stage you are at. iii. Analyzing
NeedsThe following needs of a person can be fulfilled by insurance:- a. Protection: Need for
a sound income protection in case of your unfortunate demise. b. Investment: Need to
ensure long-term real growth of your money. c. Saving: Save for the milestones and protect
your savings too. d. Pension: Need to save for a comfortable life post retirement.Once you
have analyzed your needs as per above classification, you need tothen ascertain important
factors such as type of cover, insurance amount as perones income, life stage and
dependents.
16. P a g e | 16 Objectives of Life Insurance1. To spread life insurance and provide life
insurance protection to the masses areasonable cost.2. To mobilize peoples savings through
insurance-linked savings schemes.3. To invest the funds to serve the best interests of both
the policy holders andthe nation.4. To conduct business with maximum economy, always
remembering that themoney belongs to the policy holders.5. To act as trustees of the policy
holders and protect their individual andcollective interests.6. To innovate and adapt to meet
the changing life insurance needs of thecommunity.
17. P a g e | 17GENERAL INSURANCEGeneral (non-life) insurance provides a short-term
coverage, usually for aperiod of one year. General insurers transact fire insurance, motor
insurance,marine insurance, and miscellaneous insurance business. Among thesecategories
fire and motor insurance business are predominant. Motor vehicleinsurance is compulsory in
India and the motor insurance industry. Moreover,motor insurance due to third party liability
claims has substantially contributedto underwriting losses.General Insurance Products Fire
insurance: Fire Insurance is a comprehensive policy which covers loss on account of fire,
earth quake, riots, floods, strikes, and malicious intent. It can be taken only by the owner of
the premises to be insured. Motor Insurance: In motor insurance, the rates were revised.
Upwards twice, once in 1982 and then in1990 as the high cost of repairs coupled with third
party claims had adversely affect the insured loss ratio. Motor insurance is Mandatory
leading to good amount of premium collection but it is not being fancied upon as it could lead
to litigation problem. Marine Cargo Insurance: a. Cargo in Transit. b. Cargo Declaration
policy. It includes insurance of Marine Hull Insurance Inland Vessels, ocean going Vessels,
fishing and scaling vessels, freight at risk, construction of ships, voyage insurance of various
vessels, ship breaking insurance, oil and energy in respect of onshore and offshore risks,
including construction risk.
18. P a g e | 18 No-Traditional/Rural:Includes contractors all-risk cover and the marinecum- Cattle, crop, waterpump for agriculture, hut, and other livestock. Besides the
traditionalproducts, general insurers introduced longer-term contracts such as deferredhealth
insurance and project insurance erection risk cover and creditinsurance.
19. P a g e | 19 OBJECTIVE OF INSURANCE1. The main Objective Of insurance behind the
nationalization: Life Insurance in the rural areas and in the socially and economically
backward classes with a view to reach all insurable persons in the country and providing
them adequate financial coverage at a reasonable cost.2. Conduct business with utmost
economy and with the full realization that the money to the public.3. Meet the various life
insurance need of the community that would arise in the changing social and economic

environment.4. Maximize mobilization of peoples saving by making insurance linked

securing adequately attractive.5. Involve all people working in the corporation to the best of
their capability in furthering the interests of the insurance public by providing efficient service
with courtesy.6. Bear in mind, the investment of funds, the primary obligation to its policy
holders, whose money it holder in trust, without losing sight of the interest of the community
as a whole; the fund is to be deployed to the best advantage of the investors as the
community as whole, keeping in view national as well as the community attractive return.
15. 20. P a g e | 20 BENEFITS TO THE INSURANCE POLICY HOLDER(1) Tax Benefits:Relief
in income tax is available for amount paid by way of premium for lifeinsurance investment
qualifying for rebate viz. insurance premia, premium paidtoward annuity plans for life
insurance are specified under section 88(2) of theincome tax Act.(2) Safety:Savings through
insurance guarantee financial Protection against risk of deathof the police holder. In life
insurance, on death, the full sum assured is payable(with bonuses wherever applicable)
whereas in other saving scheme, only theamount (saved with interest) is payable.(3)
Liquidity:Loans can be raised on sole security of the policy which has acquired a paidupvalue. Besides, a Life Insurance policy is also generally accepted as security foreven a
commercial loan/housing loan,(4) Aid to Thrift:Life Insurance encourages thrift Long term
saving can be made in a relativelypainless manner because of easy instalment facility
(Premium can be madethrough monthly, quarterly half-yearly or yearly instalment). The
salary savingscheme, popularly known as SSS provide a convenient method if
payingpremium each month through deduction from ones salary. The salary savingscheme
can be introduced in an institution of establishment subject to specifiedterms and condition.
(5) Money at the time of Requirements:A suitable insurance plan or a combination of different
plans can be taken tomeet specific needs that are likely to arise in future such as childrens
education,start in-life or marriage provision or even periodical needs for cash ones
apredetermined stretch of time. Alternatively, policy money can be so arrangedto be used for
other investments subject to certain conditions, loans are grantedto policy holders for house
or for purchase of flats.
16. 21. P a g e | 21(6) Insurance affords peace of mind:The security is the prime motivating
factor. The security ends the tension andfinally leads to peace to mind.(7) Insurance
Eliminate Dependency:At the death of husband or the father or any lead person, the family
would suffera lot. The insurance is here to assist then like to provide adequate amount at
thetime of suffering. The economic dependency if the family is reduced.(8) Insurance
encourages savings:In most of the life policies, element of saving is predominant, this
policiescombine of programme of Insurance and saving. Saving with insurance hascertain
extra advantage.(9) Economic Growth of the country:For the growth of the country insurance
provides string hand and mid to protectagainst loss of death. From the insurance government
get more financialresource and utilize strengthen the economic condition of the country.
17. 22. P a g e | 22 LIST OF INSURANCE COMPANIES LISTED IN DIFFERENT YEARS List of
Insurance CompaniesSl. Registration Date of Name of the CompanyNo. Number Reg.1 101
23/10/2000 HDFC Standard Life Insurance Company Limited2 102 23/10/2000 Royal
Sundaram Alliance Insurance Company Limited3 103 23/10/2000 Reliance General
Insurance Company Limited4 104 15/11/2000 Max New York Life Insurance Company

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Limited5 105 24/11/2000 ICICI Prudential Life Insurance Company Limited6 106 04/12/2000
IFFCO Tokio General Insurance Company Limited7 107 10/01/2001 Kotak Mahindra Old
Mutual Life Insurance Limited8 108 22/01/2001 TATA AIG General Insurance Company
Limited9 109 31/01/2001 Birla Sun Life Insurance Company Limited10 110 12/02/2001 Tata
AIG Life Insurance Company Limited11 111 30/03/2001 SBI Life Insurance Company Limited
23. P a g e | 2312 113 02/05/2001 Bajaj Allianz General Insurance Company Limited13 114
02/08/2001 ING Vysya Life Insurance Company Private Limited14 115 03/08/2001 ICICI
Lombard General Insurance Company Limited15 116 03/08/2001 Bajaj Allianz Life Insurance
Company Limited16 117 06/08/2001 MetLife India Insurance Company Limited17 121
03/01/2002 Reliance Life Insurance Company Limited18 122 15/05/2002 Aviva Life
Insurance Company India Private Limited19 127 06/02/2004 Sahara India Insurance
Company Limited20 128 17/11/2005 Shriram Life Insurance Company Limited21 130
14/07/2006 Bharti AXA Life Insurance Company Limited22 131 03/08/2007 Apollo DKV
Insurance Company Limited23 132 04/09/2007 Future Generali India Insurance Company
Limited24 133 04/09/2007 Future Generali India Life Insurance Company Limited25 134
16/11/2007 Universal Sompo General Insurance Company Limited26 135 19/12/2007 IDBI
Fortis Life Insurance Company Limited27 136 08/05/2008 Canara HSBC Oriental Bank of
Commerce Life Insurance Company Limited
24. P a g e | 2428 138 27/06/2008 Aegon Religare Life Insurance Company Limited29 140
27/06/2008 DLF Pramerica Life Insurance Company Limited List of General Insurance
CompaniesSl. Registration Date of Name of the CompanyNo. Number Reg.1 123 15/07/2002
Cholamandalam General Insurance Company Limited2 124 27/08/2002 Export Credit
Guarantee Corporation Limited3 125 27/08/2002 HDFC-Chubb General Insurance Company
Limited4 139 27/06/2008 Bharti AXA General Insurance Company Limited5 141 15/12/2008
Raheja QBE General Insurance Company Limited
25. P a g e | 25 COMPANY PROFILE INTRODUCTION OF METLIFE INC.MetLife, Inc. is the
holding corporation for the Metropolitan Life InsuranceCompany or MetLife for short. The firm
was founded on March 24, 1868. Formost of its life the company was a mutual organization,
but it went public in2000.MetLife is the largest life insurer in the United States, with more than
$3.3trillion of life insurance in force. A leader in savings and retirement productsand services
for individuals, small business, and large institutions, MetLifeserves 90 of the largest Fortune
100 companies.The company is headquartered at 1095 Avenue of the Americas in
MidtownManhattan, New York City, though it retains some executive offices and itsboard
room in the MetLife Building, which it sold in 2005.The MetLife companies offer life
insurance, annuities, auto and homeinsurance, retail banking and other financial services to
individuals, as well asgroup insurance and retirement & savings products and services to
corporationsand other institutions. For more information, please visit www.metlife.com.
26. P a g e | 26 INTRODUCTION OF METLIFE (INDIA)MetLife India Insurance Company
Limited (MetLife) is an affiliate of MetLife,Inc. and was incorporated as a joint venture
between MetLife InternationalHoldings, Inc., The Jammu and Kashmir Bank, M. Pallonji and
Co. PrivateLimited and other private investors. MetLife is one of the fastest growing
lifeinsurance companies in the country. It serves its customers by offering a rangeof
innovative products to individuals and group customers at more than 600locations through its

bank partners and company-owned offices. MetLife hasmore than 50,000 Financial Advisors,
who help customers achieve peace ofmind across the length and breadth of the
country.MetLife, Inc., through its affiliates, reaches more than 70 million customers inthe
Americas, Asia Pacific and Europe. Affiliated companies, outside of India,include the number
one life insurer in the United States (based on life insuranceenforce), with over 140 years of
experience and relationships with more than 90of the top one hundred FORTUNE 500
companies. The MetLife companiesoffer life insurance, annuities, automobile and home
insurance, retail bankingand other financial services to individuals, as well as group
insurance,reinsurance and retirement and savings products and services to corporationsand
other institutions. For more information, please visit www.metlife.co.in.
22. 27. P a g e | 27 METLIFE AND THE ENVIRONMENTAs an industry leader and a growing,
global enterprise, MetLife has committedto driving efforts that address sustainability, reduce
our carbon footprint andinvest in ventures that will have a positive impact on the environment.
As ourbusiness is built on promises, we recognize the tremendous importance ofmaking yet
another promise for the future by ensuring our world remains ahealthy and vibrant place for
the many generations to come through ourbusinesses, our associates and our business
partners, we can and will make adifference by contributing to a growing, global effort that will
benefit everyonetoday and in the future.
23. 28. P a g e | 28 ETHICS AND INTEGRITYFor more than a century, MetLife has built a
reputation as a company thatbelieves in fair dealing, integrity, and trustworthiness. We firmly
believe thatadherence to the highest standards of ethical conduct is the only acceptable
wayof doing business and is the personal responsibility of every one of ourassociates. The
companys well-known name and good reputation are reinforcedby our pledge to deliver value
and world class service to all who do businesswith us, always keeping in mind what is best
for our customers.The importance of ethics and compliance to the Company is demonstrated
bythe Companys extensive efforts and resources directed to this area. We arecommitted to
our compliance vision of having MetLife be the worlds mosttrusted company.Supporting
these efforts are the MetLife core values of integrity and honesty,the fundamental building
blocks of our long and successful history, that shapethe way we do business. These values
are central to our efforts to achieve theMetLife vision to build financial freedom for
everyone and emphasize ouroutward focus on customers and their needs. We recognize
that our on-goingsuccess will spring from these values and, as we look to the future, we
remaincommitted to the highest standards of ethics, integrity and trustworthiness,while
continuing to pursue a strategy of building financial freedom foreveryone. This defines who
we are.
24. 29. P a g e | 29 COMPLIANCE AND FRAUD HOTLINEMetLife is committed to the highest
standards of business conduct and expectsthe same from all people with whom we interact.
MetLife has implemented aprogram aimed at deterring, detecting, investigating and
prosecuting insurancefraud.Fraud is a major concern of everyone in the insurance industry
and is ofincreasing concern to lawmakers. Not only is insurance fraud a crime in moststates,
it also threatens the best interests of our customers because it raises thecost of insurance for
everyone. Compliance & Fraud Hotline at 1800-462-6565 DIVERSITYMetLifes Diversity and
Inclusion vision is to attract and retain the best talentand to foster an inclusive culture that

leverages our diversity to drive growthand profitability wherever we do business in the global
marketplace.At MetLife, diversity is core to our business, embedded at all levels of
ourcompany with clear accountability for success. Our commitment to diversityand inclusion
makes MetLife a more competitive company and allows us tobetter serve our customers,
attract and retain the best talent, and do businesswith the best companies and suppliers
around the world. It brings to MetLifefresh perspectives, new ways of thinking and more
innovative products. It helpsbuild relationships in the communities we serve and helps
support our brand. AtMetLife, diversity is a key driver of business performance and creates
lastingshareholder value.But examples really tell the story, and through this Diversity site,
youll learnmore about how MetLife delivers on its commitment to Diversity - from ourWorkLife solutions to our Enterprise-wide Diversity Council and AffinityGroups, to how were
reaching Multicultural Markets.MetLife is an Equal Opportunity Employer.
25. 30. P a g e | 30"Coming into your own", Its all about People, Functioning productively
performing as a Leader to MetLifes key resource. in teams towards abe really effective and
MetLife will succeed common purpose; successful by acting and because we are winning
realising the collectivemaking decisionsindependently to get from within. power of diverse
work-results. groups.Operating with an intense Conducting all business Continuously
creating anddedication to managing endeavours with truth, introducing new andmonetary
resources for sincerity and fairness. original ideas and ways ofstrong business results. doing
things. TAGLINE Peace of Mind, Guaranteed MASCOT- A DOG NAMED SNOOPY
26. 31. P a g e | 31 PARTNERSGeojit Securities was founded by Mr. C.J. George in 1987 as a
Proprietorshipfor doing Broking business in Cochin Stock Exchange. In 1994, the
businesswas taken over by Geojit Securities Ltd, a Joint Venture between Mr. C.J.George
and the Kerala State Industrial Development Corporation Ltd. In thefollowing year, the
company came up with an IPO and the shares were listed invarious Stock Exchanges in
India in 1995.Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938
andcommenced its business from 4th July, 1939 at in Kashmir (India). The Bankwas the first
in the country as a State owned bank. According to the extendedCentral laws of the state,
Jammu & Kashmir Bank was defined as a govt.Company as per the provision of Indian
companies act 1956. In the year 1971,the Bank received the status of scheduled bank. It was
declared as "A" ClassBank by RBI in 1976. Today the bank has more than 500 branches
across thecountry and has recently become a billion Dollar Company. (Contd.)
27. 32. P a g e | 32Mangaloreheadquartered Karnataka Bank, a leading private sector
Bankhaving a network of 433 branches across 19 States and 2 Union Territories, ismore than
84 years old. The Bank is a technology savvy, customer centricprogressive bank with a
national presence, driven by the highest standards ofcorporate governance and guided by
sound ethical values. All the 433 branchesof the Bank are under the umbrella of core
banking solution.The Bank has a host of customer friendly deposit and advances
productsmeeting the varied needs and preferences of its customers. The Bank offers
aplethora of technology driven products like Internet Banking facility, Dematservices, Mutual
Fund products of reputed companies, Life and GeneralInsurance services, Visa enabled
Debit Card with wide acceptability across theglobe. The Bank has an ambitious business
turnover target of Rs. 35000 Croresfor the year 2008-09 with a branch expansion plan to

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reach the tally of 460branches and additional ATMs to take the total to 180 by end-March
2009.In 1982, a group of Hyderabad-based practicing Chartered Accountants startedKarvy
Consultants Limited with a capital of Rs.1, 50,000 offering auditing andtaxation services
initially. Later, it forayed into the Registrar and Share Transferactivities and subsequently into
financial services. All along, Karvys strongwork ethic and professional background leveraged
with InformationTechnology enabled it to deliver quality to the individual. (Contd.)
33. P a g e | 33Established in 1921, Mini Muthoottu with an illustrious history of
bankingbehind them today operates from 75 branches in Kerala and 5 in Bangalore.
Allbusiness concerns of Mini Muthoottu function under the strict guidelines set bythe
Department of Company Law Affairs and Reserve Bank of India. They alsohave a certificate
of compliance with the requirements regarding prudentialnorms from the Reserve Bank of
India. Mini Muthoottu, under the leadership ofits Chairman, Mr. Roy M Mathew, offers both
the resources and capabilitieslike any national player coupled with individualized attention to
its customers.Way2Wealth is a premier Investment Consultancy Firm that has been
launchedwith the aim of making investing simpler, more understandable and profitablefor the
investors. Way2Wealth brings a wide range of product offerings fromFixed Income Securities,
Life Insurance and Mutual Funds to Equity andDerivatives (on the National Stock Exchange)
for the convenience and benefitof it customers. Way2Wealth has over 40 easily accessible
investment outletsspread across 20 major towns and cities in the country.
34. P a g e | 34 METLIFE PERFORMS IN OVER THE FOLLOWING STATES Andhra
Pradesh Assam Bihar Chandigarh Chhattisgarh Delhi Goa Gujarat Haryana
Jammu & Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra
Orissa Punjab Rajasthan Tamilnadu Tripura Uttar Pradesh Uttrakhand West
Bengal
35. P a g e | 35 STRATEGIES To achieve a top 5 market position in India through a multidistribution, multi-product platform. To adapt MetLifes best practice blueprints as a sound
platform for profitable growth. To leverage local knowledge, infrastructure and customer
base. To deliver high levels of shareholder return. To build long term value with our
business partners by enhancing the proposition to their customers. To be the employer of
choice to attract and retain the best talent in India. To be recognized as being close and
qualified by our customers.
36. P a g e | 36 PRODUCTS OF METLIFE INSURANCEChild Plan Met Bhavishya Met
Junior Endowment Met Junior-Money BackRetirement Met Pension-ParSavings Met
Sukh Met Suvida Met Saral Met 100 Met Vishwas-Rural Met Svidha Rural Met
Grameen AshrayProtection Met Suraksha Met Suraksha TROP Met Suraksha Plus
Met Mortgage Protector Plus Met ProtectInvestment Met Easy Super Met Smart One
Met Smart PlatinumHealth Met Health Care
37. P a g e | 37Monthly Income Met Monthly Income Plan Met Monthly Income Plan 7
Pay
38. P a g e | 38 RESEARCH METHODOLOGYResearch is a common language refers to a
search of knowledge. Research isscientific & systematic search for pertinent information on a
specific topic,infect research is an art of scientific investigation. Research Methodology is

ascientific way to solve research problem. It may be understood as a science ofstudying how
research is done scientifically. In it we study various steps that aregenerally adopted by
researchers in studying their research problem. It isnecessary for researchers to know not
only know research method techniquesbut also technology.The scope of Research
Methodology is wider than that of research methods.The research problem consists of series
of closely related activities. At times,the first step determines the native of the last step to be
undertaken. Why aresearch has been defined, what data has been collected and what a
particularmethods have been adopted and a host of similar other questions are
usuallyanswered when we talk of research methodology concerning a research problemor
study. The project is a study where focus is on the following points:RESEARCH DESIGNA
research design is defined, as the specification of methods and procedures foracquiring the
Information needed. It is a plant or organizing framework fordoing the study and collecting
the data. Designing a research plan requiresdecisions all the data sources, research
approaches, Research instruments,sampling plan and contact methods.Research design is
mainly of following types: -1. Exploratory research.2. Descriptive studies3. Casual
studiesEXPLORATORY RESEARCHThe major purposes of exploratory studies are the
identification of problems, themore precise Formulation of problems and the formulations of
new alternativecourses of action. The design of exploratory studies is characterized by a
greatamount of flexibility and ad-hoc veracity.DESCRIPTIVE STUDIESDescriptive research
in contrast to exploratory research is marked by the priorformulation of specific research
Questions. The investigator already knows a
34. 39. P a g e | 39substantial amount about the research problem. Perhaps as a Result of
anexploratory study, before the project is initiated. Descriptive research is alsocharacterized
by a Pre-planned and structured design.CASUAL OR EXPERIMENTAL DESIGNA casual
design investigates the cause and effect relationships between two ormore variables. The
hypothesis is tested and the experiment is done. There arefollowing types of casual
designs:I. After only designII. Before after designIII. Before after with control group designIV.
Four groups, six studies designV. After only with control group design.VI. Consumer panel
designVII. Exposit facto designB) DATA COLLECTION METHOD DATA COLLECTION
METHOD SECONDARYPRIMARY Direct Personal Interview Indirect Personal Interview
PUBLISHED UNPUBLISHED Information from Correspondence SOURCES SOURCES
Mailed Questionnaire Questions filled by enumeratorsPeriod of Study: This study has been
carried out for a maximum period of 8weeks.Area of study: The study is exclusively done in
the area of marketing. It is aprocess requiring care, sophistication, experience, business
judgment, andimagination for which there can be no mechanical substitutes.

MetLife MetLife is a leading provider of insurance and other financial services

to individual and institutional customers. MetLife enjoys strong market
position and is a leading brand in the US. The company counts more than 70
million customers around the world. MetLife is the second largest provider of
individual life insurance and annuities in the US, with $18 billion of statutory
individual life and annuity premiums and deposits till September 30, 2007.
Based on sales till September 2007, the company was ranked sixth in the
individual variable life insurance and ninth in the sale of individual life
insurance products in the US. However, natural disasters could increase the
companys claim payments, primarily in the auto and home segment,
increasing the expenses and thereby reducing the margins of the company.
Page 1 of 2 MetLife SWOT Analysis Strengths, Weaknesses, Opportunities and
Threats (SWOT) Location of Factor TYPE OF FACTOR Favorable Unfavorable
Internal Strengths Leading position in US insurance market Strong
distribution network Comprehensive range of products Weaknesses
Weak international presence US subprime mortgage exposure External
Opportunities Growth opportunities in emerging markets Demographic
shift in US throwing up opportunities in the retirement market Current
acquisitions likely to drive future growth Threats Gloom in natural
catastrophes forecast Consolidation in the US financial service industry
US economic slowdown and weak financial markets

External Analysis of Met Life Insurance Company

Introduction
Metropolitan Life Insurance Company Incorporated or simply MetLife Inc. is specialized in
the services related to the insurance of employees and job benefits, financial services and other
insurance services. The company has most of its operations directed in the United States and in
various regions of Latin America. MetLife also caters the needs of the markets like Asia Pacific,
Europe, Middle East and India respectively (one source, 2011).MetLife offers wide range of
services in the insurance and finance, including, insurance of life, dental, disabilities, health care,
and in finance it offers annuity, home and automobiles insurance services respectively. MetLife
operates in five diverse business segments. These segments includes: insurance products,

retirement plans, corporate funding and benefits, home and automobile insurance plans, etc. The
company also operates in different banking sectors catering the needs of the corporate and the
other clients. The banking services include MetLife Bank, National Association and related
business activities (Reuters, 2011).
Metropolitan Life Insurance Companyis one of the largest companies in the field of insurance
and benefits programs both internationally and domestically. According to the Reuters (2011)
MetLife serves over 90 million customers in more than 50 countries (Business wire, 2009; Tulsa
world, 2010). MetLife through its subsidiaries retains the position of a leader in the various
markets it operates in (Lehmann, 2010). MetLife Inc. is currently ranked at number fifty-one in
the Fortune 1000 companies list (one source, 2011)

SWOT Analysis
SWOT Matrix
The SWOT analysis of Metropolitan Life Insurance Company Incorporated (MetLife) is
as follows:
Strengths
Weaknesses
Market leader
US mortgage market crises
Diverse range of products
Litigation issues
Strong networking
Opportunities
Threats
Growth in emerging markets
economic conditions

Demographic shift

competition

acquisitions

changes in regulations

Strengths

Metropolitan Life Insurance Company Incorporated is among the leaders of the insurance
industry. MetLife is currently ranked at number fifty-one in the Fortune Companies List (one
source, 2011). MetLife offers wide range of services in the insurance and finance, including,
insurance of life, dental, disabilities, health care, and in finance it offers annuity, home and
automobiles insurance services respectively. MetLife operates in five diverse business segments.
These segments includes: insurance products, retirement plans, corporate funding and benefits,
home and automobile insurance plans, etc. The company also operates in different banking
sectors catering the needs of the corporate and the other clients. The banking services include
MetLife Bank, National Association and related business activities (Reuters, 2011). It has over
46 billion dollars market capital in the markets of United States, with Prudential Financial Inc. at
number two with the market capital of 31.42 billion dollars respectively (NYSE:MET, 2011).
MetLife Inc. has a strong distribution network all over United States and in the other countries it
operates. It markets its products and services via different distribution groups and individual
distribution techniques. These offer their services via sales forces, employees, third party
organizations etc. (USSEC, 2011).
Weaknesses
The mortgage market crisis in the United States is one of the weaknesses of MetLife Inc.
The financial crisis back in 2000, are derived and indicated by the US subprime mortgage crises
as well. These crises were classified by the increasing mortgage rates and the closing of the
businesses that resulted in the declining securities associated with them. The report
communicated by the senate showed that more than 70% of the mortgages issues in United
States to the subprime borrowers were adjustable mortgages which made refinancing extremely
very difficult and these adjustable rate mortgages then started to be re-priced at very high rate of
interest (DODD, 2007). These crises hit all the financial service providers in United States

starting with HSBC bank which reported first huge loss due to the decline of mortgage markets
in 2007 (BBC News, 2007).
Opportunities
There are numbers of opportunities available to MetLife Insurance Inc. Some the
opportunities includes expansion and growth in the emerging markets. MetLife already has its
business in the markets of Japan, India, and Asia Pacific etc. these markets shows great potential
for success and growth for the company. If it further expands its business in the Chinese markets
then MetLife will gain more financial benefits than its counterparts operating internationally.
Further, it can expand its current product line in order to attract large number of customers in
these markets. Likewise, the demographic structure of United States of America represents the
favorable structure for MetLife Inc. According to the CIA world fact book (2010), there is large
number of baby boomers in the US population (age range 60 and over: 20%). Most of these
people have reached old age and are retired from their life-long work related duties. This market
segment offers the room of opportunities to Metropolitan Life Insurance Company Incorporated
in the form of retirement and pension plans and offerings. MetLife is engaged in the acquisitions
of the businesses in the past and it is expected that it will continue to do this in future. The CEO
of MetLife reported that much of MetLifes scale is the result of its aggressive acquisition
strategy -- it has bought everything from billion-dollar enterprises to distribution channels across
all its lines of business (Overby, 2002).
Threats
The insurance markets in United States are highly competitive in nature with a large
number of market players offering wide range of products to the nation. Metropolitan Life
Insurance Company faces stiff competition with these market players. The top three competitors
of MetLife Inc. are: American International Group Inc., Allianz SE, and Prudential Financial,

Inc. (Hoovers, 2011). Another possible threat faced by Metropolitan Life Insurance Company is
the changing regulations by the US government for auto markets and health care reforms. The
government of United States has mandated insurance of vehicles and drivers. The recent
regulations involve the auto insurance based on the safety records of driver, the mileage driven
and the experience of driver in driving respectively (Car Insurance rates, 2011). This regulation
has led many insurance providers to cut off the prices offered for various products in order to
comply with the requirements of the customers. Likewise, the health care reforms have received
negative remarks from various insurance companies like United Health group etc. The
UnitedHealth Group company estimates noted that if it fails to comply with the pricing for the
medical costs, then its profitability will greatly suffer. They will face the declining profits which
can materially affect their business and financial portfolios (UnitedHealth Group USSEC,
2010).If these laws further changes then the business of MetLife Inc. will suffer badly as its main
area of expertise is in health and auto insurance offerings (MetLife, 2011).
PESTEL Analysis
Political
The federal law prohibits companies to make contributions in the political activities and federal
candidates; Metropolitan Life Insurance Company makes contributions to the parties where it has
liberty to make corporate contributions. The US Supreme Court has drawn restrictions on the
corporate spending on the political activities (MetLife, 2011). MetLife Inc. has established its
political action committee called PAC. The MetLife PAC has so far spent around 2 million
dollars in the year 2010 as political contributions in the state, federal and local level political
parties (Center for Responsive Politics, 2011). In the year 2010, most of the spending was made
in the favor of Republicans party (Center for Responsive Politics, 2011). MetLife has hired large
number of assistant groups that provide it assistance in the lobbying activities to obtain favorable

rankings from the legislators. Metropolitan Life Insurance Company Incorporated has so far
spent around $11,650,000 in the lobbying activities through its lobby agents (Influence Explorer,
2011).
Economic
The economic conditions of a country play an important role on determining the success
and failure of a company. Since, most of the functions of Metropolitan Life Insurance Company
Incorporated are directed in the domestic markets of United States, so its likelihood of getting hit
by the economic changes and governmental ruling is high. The downfall in the economy of
United States has adversely affected large number of organizations operating in United States
and increased the opportunity costs associated with their business segments and operations.The
MetLifes business operations are highly effected by the international conditions of the capital
markets and the economy of the world. These international conditions have increased the state of
stress and volatility in the markets. Fluctuations in one market can highly impact and spread in
the other markets.The global economic conditions and the capital markets can greatly impact the
business and operations of Metropolitan Life Insurance Company Inc. if these conditions
remained the same or failed to improve in the future (USSEC, 2011).
Social
Metropolitan Life Insurance Company Inc.is effectively engaged in the social and community
related activities in order to raise the living standards of people in the communities it operates in.
MetLife Inc. has created its foundation in order to achieve its community involvement based
objectives. The MetLife Foundation was established in 1976 to facilitate the corporate
involvements and contributions in the community. This community was established to educate
people about health, productive life and strengthening their lives at large. Its main area of focus

is on the provision of education to the people of all ages. Likewise, it makes grants in the health,
education, civic affairs and culture (MetLife, 2011). MetLife has initiated social investment
program to offer loans and financial assistance to the investment projects aimed to excel the
development of communities and the people.
Technological
Metropolitan Life Insurance Company Inc. has implemented the latest information
technology systems to facilitate the flow of information within the offices and all the other
business divisions. Recently MetLife has upgraded its customer service centers by employing the
latest technological advancements to boost its external recognition capabilities through their call
centers. It is now using knowledge management based platforms in the customer service centers
that help the customer service representatives with more accurate information in a reduced time
period to acknowledge the requests of customers. Moreover, ODonnell (2009) reported that
MetLife has installed interactive voice recognition (IVR) software to boost self-service
capabilities, making it easier for customers to complete inquiries with fewer steps.
Environmental
Like the other entire responsible corporations in the markets, State Farm Insurance Cos.
is also engaged in the activities that foster the environmental safety. It has started number of
activities in order to minimize its impact on the environment and atmosphere. Among its
initiatives includes reduced carbon dioxide emission, paper recycling and less consumption of
energy in all of its offices and subsidiaries. MetLife started the paper recycling system in the year
1970 by reprocessing the used newspapers and saving over 30,000 trees in return.As a result of
its green environment initiatives, MetLife has won energy star awards from EPA for more than
ten of its US domestic business units (MetLife, 2011).
Legal

Metlife is subject to various legal proceedings currently in pipeline. Some of the law suits
filed against the company includes: Drelles v. Metropolitan Life Insurance Company (federal
class action for illegal sales practices), class action claims for which MetLife recently paid $50
million in settlement (Wise, 2009), Harvey v. MetLife Class Action Lawsuit Settlement (Holter,
2010), etc. If these matters remain unresolved or the verdict is made against Metropolitan Life
Insurance Company Inc. then it could have material impact on its financial stability and the
market position in the domestic markets of United States and international markets abroad.

Porters Five Forces Analysis

Rivalry among established competitions
The level of competition among the existing competitors in the industry is very stiff. The
top three competitors of MetLife Inc. are American International Group Inc., Allianz SE, and
Prudential Financial, Inc.(Hoovers, 2011). In the health insurance industry, the customer
demands are associated with the increasing costs of medical options available to them. The
market success and profitability of the firms operating in the industry is dependent on their
operations and their ability to obtain favorable contracts with the medical and health care
personnel (Hoovers, 2011).
Bargaining power of suppliers
The bargaining power of suppliers is derived by their power to demand the prices of their
own choice. The suppliers power in the insurance industry is not a big threat to the companies
operating in it. But the threat suppliers taking away human capital does exist in the industry. This
industry is entirely based on the human capital. If a talented person is working in the small
company or in a company that maintains its niche in the market, then there likely to be the case
of snatching that human capital by the large companies from those small companies.

The bargaining power of buyers

The individual buyers do not have much power to influence the insurance industry at
large. The large corporate clients and other related businesses pay large sums of money as health
insurance premium to these companies. These market players in the insurance industry long to
get high margin corporate clients.

The threat of substitute products or services

The threat of substitutes is very high in the insurance industry as there are plenty of
substitutes available in the market. Many of the firms offer the services that are similar to that of
large companies. There exists high level of competition on all the grounds whether it is auto
insurance or health insurance. There are companies operating in the markets that offers unique
products and services to their customers and have competitive advantage over their counterparts
which depends on the size of their business segments.

The threat of the entry of new competitors

The industry imposes certain barriers to the entry of the new companies in the markets. This
means that the level of threat of new entrants is relatively low in the industry. There are varying
reasons to the low rate of entry. Among them is the entry barriers imposed by the industry. The
new entrants will have to comply with the governmental regulations in order to make their entry
in the markets. Then the existing players are protected by the number of barriers which makes it
difficult for the new entrants to give hard time to them. Among them are: entry restrictions, tariff
rates, high capital requirement, distribution channels etc. These barriers limit them to compete
against the existing market players.

Recommendations
This study provided brief overview on the external environment analysis of Metropolitan
Life Insurance Company Incorporated. The findings of the study suggested that MetLife Inc.
should focus on the following factors in order to excel its business and social image in the world:
1.

Acquisitions have proved in the history of the company to be the financial success
of MetLife. It is therefore, recommended that MetLife can further pursue the
acquisitions and mergers technique to have a geographical expansion in large
number of regions

2.

The developing markets of Asia represent huge growth potential for the company.
MetLife should strategically advance with its products in these markets in order to
obtain maximized profits and sales.

3.

MetLife should Innovate and expand the existing product lines in the market to
face the stiff competition with its counterparts.

4.

It can engage in the positive reinforcement by advertising its community

improvement based initiatives to attract large number of customers.

References
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Research and
Markets(http://www.researchandmarkets.com/research
/99badde5/metlife_inc_com) has announced the
addition of the "MetLife, Inc.: Company Profile and
SWOT Analysis"company profile to their offering.

World Market Intelligence's 'MetLife, Inc.: Company

Profile and SWOT Analysis' contains in depth
information and data about the company and its
operations. The profile contains a company overview,
business description, financial ratios, SWOT analysis,
competitive benchmarking, key facts, key employees,
location and subsidiaries as well as information on
products and services.
This SWOT analysis and company profile is a crucial
resource for industry executives and anyone looking to
gain a better understanding of the company's business.
'MetLife, Inc.: Company Profile and SWOT Analysis'
report utilizes a wide range of primary and secondary
sources, which are analyzed and presented in a
consistent and easily accessible format.
Scope
- Examines and identifies key information and issues
about 'MetLife, Inc.' for business intelligence
requirements
- Studies and presents the company's strengths,
weaknesses, opportunities (growth potential) and
threats (competition). Strategic and operational
business information is objectively reported
- Provides analysis on financial ratios along with a
competitor benchmarking section

- The profile also contains information on business

operations, company history, major products and
services, key employees
Key Highlights
MetLife, Inc. (MetLife) is a leading provider of
insurance, annuities, and employee benefit programs in
the United States, Japan, Latin America, the Asia
Pacific, Europe, and the Middle East. The company
offers group life insurance products, including variable,
universal, term, and whole life products, employee paid
supplemental life products; and individual life insurance
products comprising variable, universal, term, and
whole life products, and also a range of mutual funds
and other securities products. It also provides nonmedical health products and services, which include
dental insurance, group short- and long-term disability,
individual disability income, long-term care, critical
illness, and accidental death and dismemberment
coverage's, and also employer-sponsored auto and
homeowners insurance, and administrative services to
employers; and retirement products consisting of
variable and fixed annuities that are primarily sells to
individuals and employees of corporations and other
institutions. In addition, the company offers a diverse
range of group insurance and retirement and savings
products and services to corporations and other
institutions. MetLife is headquartered in New York, the
US.

Key Topics Covered:

1 Business Analysis
2 Analysis of Key Performance Indicators
3 Mergers & Acquisitions and Partnerships
4 Recent Developments
5 SWOT Analysis
6 Company Statement
7 History
8 Key Employees
9 Key Employee Biographies
10 Locations and Subsidiaries
11 Appendix
For more information
visithttp://www.researchandmarkets.com/research/99ba
dde5/metlife_inc_com

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