HDFC 66

HDFC STANDARD LIFE
EXECUTIVE SUMMARY
Organizational structure study reveals the various aspects of organization. It is similar to the
study of skeleton of Human being. Organizational structure is the pillar of the organization.
The mission carried out can be accomplished in accordance to the vision and goal can be
positively achieved with the help of an effective and efficient organizational structure.
Organizational structure categorized the various functions of the organization, hence makes
it easy to achieve the goal.
HDFC Standard Life, one of India’s leading private life insurance companies, offers a range
of individual and group insurance solutions. It is a joint venture between Housing
Development Finance Corporation Limited (HDFC), India’s leading housing finance
institution and Standard Life plc, the leading provider of financial services in the United
Kingdom.
HDFC Ltd. holds 72.43% and Standard Life (Mauritius Holding) Ltd. holds 26.00% of
equity in the joint venture, while the rest is held by others. HDFC Standard Life’s product
portfolio comprises solutions, which meet various customer needs such as Protection,
Pension, Savings, Investment and Health. Customers have the added advantage of
customizing the plans, by adding optional benefits called riders, at a nominal price.
The company currently has 32 retail and 4 group products in its portfolio, along with five
optional rider benefits catering to the savings, investment, protection and retirement needs of
customers.
HDFC Standard Life continues to have one of the widest reaches among new insurance
companies with 568 branches servicing customer needs in over 700 cities and towns. The
company has a strong presence in its existing markets with a base of 2,00,000 Financial
Consultants.
1
LORVEN COLLEGE OF SCIENCE AND MANAGEMENT
HDFC STANDARD LIFE
CHAPTER-1
INDUSTRY PROFILE
INTRODUCTION
INSURANCE: The Business of Insurance relates to the Protection of the economic value of
assets. Every asset has a value. The asset is created expecting income generated there from or
some other output to meet some of his needs. For example; Factory, Motor car. There may not
be direct income. Normally there would be an expected lifetime for the asset during which
time it would perform and the owner would plan for a substitute by the end of that lifetime to
ensure that the value or income is not lost. Unfortunately if the asset gets lost earlier before its
expected life time being made non functional or destroyed through an accident or other
unfortunate event, the owner and those deriving benefits there from will suffer. Insurance is a
mechanism that helps to reduce such adverse consequences.
WHAT IS LIFE INSURANCE : Life insurance is a contract between a person and an

insurance company by which that person pays certain agreed amount either monthly,
quarterly, half-yearly or yearly. So that at the time of person’s death the agreed amount will
be given to his or her family members. This is often used to defray funeral and related
expenses and there after replaces the loss of income or pension benefit caused by the death of
the policyholder. Life Insurance involves selling IOUs and involves a whole range of
specialists. Life insurance is a long-term business and it is a distinguishing characteristics and
it is also a time-tested business. Life insurance has to manage a whole lot of risks.
DEFINITION: Insurance is a plan by which large numbers of people associates themselves

and transfer to the shoulders of all risks that attach to individuals.
2
HDFC STANDARD LIFE
FUNDAMENTAL DEFINITION: Insurance may be defined as a social device providing

Insurance compensation for the effects of misfortune, the payment being made from the
accumulated contributions of all parties participating in the scheme
HOW DOES INSURNCE WORK? All the policy holders who are likely to face the
similar risk, agree to come together to share the losses suffered by a few. Since the
individuals who are going to suffer the loss are not known all the policyholders are protected
in case they become the victims of the insured event. Thus insurance is a means of sharing of
the risk The insurance sector in India has come a full circle from being an open competitive
market to nationalization and back to a liberalized market again. Tracing the developments in
the Indian insurance sector reveals the 360 degree turn witnessed over a period of almost two
centuries.
A brief history of the Insurance sector :The business of life insurance in India in its existing
form started in India in the year 1818 with the establishment of the Oriental Life Insurance
Company in Calcutta.
Some of the important milestones in the life insurance business in India are:
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective
of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act,1956, with a
capital contribution of Rs. 5 crore from the Government of India.
The General insurance business in India, on the other hand, can trace its roots to the Triton
Insurance Company Ltd., the first general insurance company established in the year 1850 in
Calcutta by the British.
3
HDFC STANDARD LIFE
Insurance sector reforms

In 1993, Malhotra Committee headed by former Finance Secretary and RBI Governor R.N.
Malhotra was formed to evaluate the Indian insurance industry and recommend its future
direction. The Malhotra committee was set up with the objective of complementing the
reforms initiated in the financial sector. The reforms were aimed at “creating a more efficient
and competitive financial system suitable for the requirements of the economy keeping in
mind the structural changes currently underway and recognizing that insurance is an
important part of the overall financial system where it was necessary to address the need for
similar reforms…”
In 1994, the committee submitted the report and some of the key recommendations
included:
i) Structure
 Government stake in the insurance Companies to be brought down to 50%
 Government should take over the holdings of GIC and its subsidiaries so that these
subsidiaries can act as independent corporations.
 All the insurance companies should be given greater freedom to operate
ii) Competition
 Private Companies with a minimum paid up capital of Rs.1bn should be allowed to enter
the industry.
 No Company should deal in both Life and General Insurance through a single entity.
 Foreign companies may be allowed to enter the industry in collaboration with the
domestic companies.
 Postal Life Insurance should be allowed to operate in the rural market.
 Only one State Level Life Insurance Company should be allowed to operate in each state
iii) Regulatory Body
 The Insurance Act should be changed
 An Insurance Regulatory body should be set up
 Controller of Insurance (Currently a part from the Finance Ministry) should be made
independent
4
HDFC STANDARD LIFE
iv) Investments
 Mandatory Investments of LIC Life Fund in government securities to be reduced from
75% to 50%
 GIC and its subsidiaries are not to hold more than 5% in any company (There current
holdings to be brought down to this level over a period of time)
v) Customer Service
 LIC should pay interest on delays in payments beyond 30 days
 Insurance companies must be encouraged to set up unit linked pension plans
 Computerization of operations and updating of technology to be carried out in the
Insurance industry
The committee emphasized that in order to improve the customer services and increase the
coverage of the insurance industry should be opened up to competition. But at the same time,
the committee felt the need to exercise caution as any failure on the part of new players could
ruin the public confidence in the industry.
Hence, it was decided to allow competition in a limited way by stipulating the minimum
capital requirement of Rs.100 crore. The committee felt the need to provide greater autonomy
to insurance companies in order to improve their performance and enable them to act as
independent companies with economic motives. For this purpose, it had proposed setting up
an independent regulatory body.
The Insurance Regulatory and Development Authority (IRDA)
Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in
Parliament in December 1999. The IRDA since its incorporation as a statutory body in April
2000 has fastidiously stuck to its schedule of framing regulations and registering the private
sector insurance companies.
The other decision taken simultaneously to provide the supporting systems to the insurance
sector and in particular the life insurance companies was the launch of the IRDA’s online
service for issue and renewal of licenses to agents.
5
HDFC STANDARD LIFE
The approval of institutions for imparting training to agents has also ensured that the
insurance companies would have a trained workforce of insurance agents in place to sell their
products, which are expected to be introduced by early next year.
Since being set up as an independent statutory body the IRDA has put in a framework of
globally compatible regulations. In the private sector 12 life insurance and 6 general insurance
companies have been registered
ORIGIN AND GROWTH OF INSURANCE SECTOR:
Insurance in modern form originated in the Mediterranean during the 13th century. (The
earliest references to insurance- found in Babylonia, the Greeks and the Romans).
• Marine insurance is the oldest form of insurance followed by life insurance and fire
insurance.
• The history of life insurance in India dates back to 1818 when it was conceived as a
means to provide for English Widows.
• A higher premium was charged for Indian lives than the non-Indian lives (considering
being more risky for coverage).
• Oriental life Insurance Company was incorporated at Calcutta in 1818,
• followed by Bombay Life Assurance Company in 1823 and
• Triton Insurance Company for General Insurance in 1850.
• By 1938 there were 176 insurance companies .Insurance regulation formally began in
India through the passing of two acts the Life Insurance companies Act of 1912 and
the Provident Fund Act of 1912.
• However the first comprehensive legislation was introduced with the Insurance Act of
1938 that provided strict state control over insurance business in the country.
• Till end of FY 1999-2000, two state-run insurance companies, namely, Life Insurance
Corporation (LIC) and General Insurance Corporation (GIC) were the monopoly
insurance providers in India. Under GIC there were four subsidiaries:
 National Insurance Company Ltd.
 Oriental Insurance Company Ltd.
 New India Assurance Company Ltd.
6
HDFC STANDARD LIFE
 United India Assurance Company Ltd.

• The Insurance Regulatory and Development Authority Reforms in the Insurance
sector were initiated with the passage of the IRDA Bill in Parliament in December
1999. The IRDA since its incorporation as a statutory body in April 2000 has
fastidiously stuck to it schedule of framing regulations and registering the private
sector insurance companies.
• Attracted by the huge untapped potential, many private players entered the market
after the Insurance bill was passed in late 2000. A majority of these were
collaborations between an Indian company and a leading MNC insurance/financial
services company.
• LIC and GIC have limited number of policies to offer to their subscribers
• Private insurance companies offer many policies and the premium amount as well as
the maturity period is much competitive as against those of government insurance
companies.
• The private sector insurance players have started exploring the rural markets in which
until recently, the state owned companies had the monopoly. India’s life insurance
premium, as a percentage of GDP is 1.8%
• The value of the life insurance market is shown in terms of gross premium incomes
from mortality protection and retirement savings plans. All currency conversions have
been calculated using constant 2008 annual average exchange rates. Indian insurance
sector is likely to register unprecedented growth of 200% and attain size of Rs. 2000
billion by 2009-10
• A private sector insurance business will achieve a growth rate of 140% as a result of
aggressive marketing technique being adopted by them against 35-40% growth rate of
state owned insurance companies.
• In rural markets, the share of private insurance players would increase substantially as
these have been able to generate a faith among their rural consumers move. This
forecast is based on a correlation between past market growth and growth of base
drivers, such as GDP, population growth and long-term interest rates.
7
HDFC STANDARD LIFE
CHAPTER-2
COMPANY PROFILE
2.1Background and inception of the company
HDFC Standard Life Insurance Company Limited is one of India's leading private insurance
companies, which offers a range of individual and group insurance solutions. It is a joint
venture between Housing Development Finance Corporation Limited (HDFC Limited),
India's leading housing finance institution and a Group Company of the Standard Life Plc,
UK. As on February 28, 2009 HDFC Ltd. holds 72.43% and Standard Life (Mauritius
Holding) 2006, Ltd. holds 26.00% of equity in the joint venture, while the rest is held by
others.
HDFC Limited
HDFC Limited, India’s premier housing finance institution has assisted more than 3.3 million
families own a home, since its inception in 1977 across 2400 cities and towns through its
network of over 250 offices. It has international offices in Dubai, London and Singapore with
service associates in Saudi Arabia, Qatar, Kuwait and Oman to assist NRI’s and PIO’s to own
a home back in India. As of December 2008, the total asset size has crossed more than Rs.
95,000 crores including the mortgage loan assets of more than Rs. 82,800 crore.
The corporation has a deposit base of Rs. 17,551 crore, earning the trust of more than 9,
00,000 depositors. Customer Service and satisfaction has been the mainstay of the
organization. HDFC has set benchmarks for the Indian housing finance industry.Recognition
for the service to the sector has come from several national and international entities including
the World Bank that has lauded HDFC as a model housing finance company for the
developing countries.
8
HDFC STANDARD LIFE
HDFC has undertaken a lot of consultancies abroad assisting different countries including
Egypt, Maldives, and Bangladesh in the setting up of housing finance companies.
Standard Life Group (Standard Life plc and its subsidiaries)
The Standard Life Group has been looking after the financial needs of customers for over
180 years. It currently has a customer base of around 7 million people who rely on the
company for their insurance, pension, investment, banking and health-care needs. Its
investment manager currently administers £125 billion in assets. It is a leading pensions
provider in the UK, and is rated by Standard & Poor's as 'strong' with a rating of A+ and as
'good' with a rating of A1 by Moody's. Standard Life was awarded the 'Best Pension Provider'
in 2004, 2005 and 2006 at the Money Marketing Awards, and it was voted a 5 star life and
pension’s provider at the Financial Adviser Service Awards for the last 10 years running. The
'5 Star' accolade has also been awarded to Standard Life Investments for the last 10 years, and
to Standard Life Bank since its inception in 1998. Standard Life Bank was awarded the 'Best
Flexible Mortgage Lender' at the Mortgage Magazine Awards in 2006.
Nature of the business carried
HDFE standard life is on the business of life insurance. But HDFC is in diversified business
like banking, housing finance, securities etc…….
2.2Vision, Mission and quality policy

Vision
“The most successful and admired life insurance company, which mean 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. In short, “The most obvious choice for all”
9
HDFC STANDARD LIFE
Mission
We aim to be the top new life insurance company in the market. This does not just mean
being the largest or the most productive company in the market, rather it is a combination of
several things like-
 Customer service of the highest order
 Value for money for customers
 Professionalism in carrying out business
 Innovative products to cater to different needs of different customers
 Use of technology to improve service standards
 Increasing market share
Values
• Integrity
• Innovation
• Customer centric
• People Care “One for all and all for one”
• Team work
• Joy and Simplicity
KEY PLAYERS
Mr. Deepak S Parekh is the Chairman of the Company. He is also the Executive Chairman of
Housing Development Finance Corporation Limited (HDFC Limited). He joined HDFC
Limited in a senior management position in 1978. He was inducted as a whole-time director
of HDFC Limited in 1985 and was appointed as its Executive Chairman in 1993. He is the
Chief Executive Officer of HDFC Limited. Mr. Parekh is a Fellow of the Institute of
Chartered Accountants (England & Wales).
Mr. Deepak M Satwalekar is the Managing Director and CEO of the Company since
November, 2000. Prior to this, he was the Managing Director of HDFC Limited since 1993.
Mr. Satwalekar obtained a Bachelors Degree in Technology from the Indian Institute of
10
HDFC STANDARD LIFE
Technology, Bombay and a Masters Degree in Business Administration from The American
University, Washington DC.
GROUP COMPANIES
HDFC Bank: World Class Indian Bank- among the top private banks in India.
HDFC AMC: One of the top 3 AMCs in India- Preferred investment manager.
Intelent Global: BOP services for international customers.
CIBIL: Credit information services bureau.
HDFC Chubb: Upcoming Private companies in the field of General Insurance.
ASSOCIATE COMPANIES
HDFC Limited
HDFC Bank
HDFC Mutual Fund
HDFC Sales
11
HDFC STANDARD LIFE
2.3 PRESENT STATUS OF THE ORGANIZATION
HDFC Standard Life Insurance Co. Ltd was incorporated on 14th august 2000. It is a joint
venture between Housing Development Finance Corporation Limited (HDFC Ltd.) India and
UK based Standard Life Company.
Both the joint venture partners being one of the leaders in their respective areas came together
in this 81.4:18.6 joint venture to form HDFC Standard Life Insurance Company Limited.
The MD and CEO of HDFC Standard Life Mr. Deepak Satwalekar, has given the company
new directions and has helped the company achieve the status it currently enjoys. HDFC
Standard Life brings to you a whole range of insurance solutions be it group or individual or
NAV services for corporations; they can be easily customized as per specific needs.
HDFC Standard Life Insurance India boasts of covering around 8.7 lakh lives by March'2007.
The gross incomes standing at a whopping Rs. 2, 856 crores, HDFC Standard Life Insurance
Corporation is sure to become one of the leaders and the first preference for any life insurance
customer.
The Banc assurance partners of HDFC Standard Life Insurance Co Ltd are HDFC, HDFC
Bank India Limited, Union Bank of India, Indian Bank, Bank of Baroda, Saraswat Bank and
Bajaj Capital. The loss life is irreparable and is thus fully understandable at HDFC Standard
Life. A completely hassle-free process has been formulated to provide maximum
convenience.
HDFC Standard Life is a joint venture company between mortgage lender HDFC and the UK-
based Standard Life Plc. The company, in FY 09 generated a total premium income of Rs
5,564.69 crore as against Rs 4,858.56 crore in FY 08, registering a year-on-year growth of 15
percent. Its renewal premium also saw a growth of 34 per cent at Rs 2,913.58 crore for the
fiscal as compared to Rs 2,173.19 crore in the previous year.
The company's Effective Premium Income (EPI) in respect of retail business increased by five
per cent, growing from Rs 2,425-crore in 2007-08 to 2,552-, Crore in 2008-09. HDFC
12
HDFC STANDARD LIFE
Standard Life tracks its new business premium on the basis of EPI. This is calculated by
giving only a 10 per cent value to a single premium. HDFC Standard Life launched 11 new
products in the last fiscal and would launch a slew of products that would be a mix of
traditional policies and ULIPs.
HDFC Standard Life, one of the leading private life insurance companies in India declared its
annual results for the financial year ending March 31, 2008. The company generated New
Business Premium Income of Rs. 2,685 crores in FY2007-08 registering a year-on-year
growth of 63%. The growth was primarily driven by the success of the company’s initiative
on structured sales processes based on customer needs and their assessments.
Mr. Deepak Satwalekar, MD & CEO, HDFC Standard Life attributed this growth to the
quality of life insurance solutions offered by the company and its increased geographical
reach. He also emphasized, “We believe that our success is a result of our efforts in giving
customers, the best long-term solutions to take care of their insurance needs. Our Endeavour
to provide high quality insurance and pension solutions to customers through quality pre-sales
advice, based on a sound need-based solutions approach, and post-sales service has started to
pay off.”
13
HDFC STANDARD LIFE
2.4 ORGANIZATIONAL STRUCTURE
Chairman
MD
Zonal Manager
Regional Manager
Retail Marketing
MMMarkeMMar Alternative Chanel Operation Chanel Human Resource
Territory Manager
Team Manager HR Executive
Territory Manager
Branch Manager Operation Manager

Branch Manager
Asst. B.M. Channel Executive
Business Dev. Mgr.
Sales Dev. Mgr.
14
HDFC STANDARD LIFE
2.5Highlights of Financial Year 2007-08
• New Business Premium Income up by 63% to Rs. 2,685 crores. Total Premium
Income is up by 70% at Rs. 4,859 crores as against Rs. 2,856 crores in FY2006-07
• Alternate Channels including banc assurance has recorded an impressive growth of
over 63% to contribute 41% to the Effective Premium Income (EPI)
• Group business funds under management have increased to Rs. 959 crores, registering
a growth of 83% over FY2006-07
• The average premium has increased to Rs. 33,000
• Company products and services are now available in 726 cities and towns across the
country
• Strength of Financial Consultants has increased to 1, 45, 000.
HDFC Standard Life tracks its New Business Premium on the basis of Effective Premium
Income (EPI). EPI is calculated by giving only a 10% value to a Single Premium policy and is
an internationally accepted indicator of an insurance company’s performance. The total
premium income (including renewal premium) grew by 70% to touch a figure of Rs. 4,859
crores. High levels of persistency have resulted in higher level of renewal premiums.
Although there has been a slight dip from 89% to 86%, we continue to have the highest
persistency level in the industry. The cumulative sum assured for all policies issued up to
March 31, 2008 crossed Rs. 87,000 crores.
In offering unit linked products, the structured sales process adopted by the company has paid
rich dividends. “We believe that we should be able to lengthen the maturity profile of our
policy portfolio, now that the regulatory disincentive has been removed with effect from April
1, 2008,” added Mr. Satwalekar. HDFC Standard Life offers, both, life insurance policies as
well as pension products on a unit linked platform as also the conventional ‘with profits’
platform.
15
HDFC STANDARD LIFE
Over 50% of the sum assured as on March 31, 2008, is in respect of non unit-linked policies.
Over 30% of funds under management are in respect of non-linked business, which reflects
the balanced book between conventional and unit-linked business in the total portfolio of the
company.
The company’s national relationships with large public and private sector banks have also
helped it reach out to a larger number of customers across the country. The company plans to
further strengthen these relationships through the introduction of products specially designed
for this channel.
HDFC Standard Life continues to have one of the widest reaches among new insurance
companies. The company strengthened its number of offices from 103 to 572 across the
country in less than 3 years. Through these offices, the company today services customer
needs in over 726 cities and towns. The company also increased its depth in existing markets
by increasing its Financial Consultant strength from 74,000 as on March 31, 2007 to 1,45,000
as on March 31, 2008. There has been a huge jump of 300% over the last 3 years in the
number of its Financial Consultants who have qualified to become members of the prestigious
Million Dollar Round Table (MDRT) Club. The strength of MDRT qualified members has
gone up to 496 as on December 31, 2007.
As against the regulatory requirement of writing 18% of all policies in rural areas, HDFC
Standard Life has issued over 217,000 policies accounting for 23% of all policies issued
during 2007-08. Additionally, during 2007-08, HDFC Standard Life has covered 51,326 lives
under the social sector category, as against the requirement of 25,000 lives. Overall, the
company has covered over 9,59,000 lives during the year ending March 31, 2008.
To meet the demands arising from the company’s rapid growth, shareholders have contributed
additional Rs. 470 crores of equity to take the paid-up share capital as on March 2008 to Rs.
1,271 crores.
16
HDFC STANDARD LIFE
2.6Product/service profile
1. Protection Plans
 HDFC Term Assurance Plan: This plan is designed to help secure family’s financial
needs in case of uncertainties. The plan does this by providing a lump sum to the family of
the life assured in case of death or critical illness (if option is chosen) of the life assured
during the term of the contract. One can choose the lump sum that would replace the
income lost to one’s family in the unfortunate event of one’s death.
 HDFC Loan Cover Term Assurance Plan: This plan aims to protect family from loan
liabilities in case of unfortunate demise within the policy term. It provides the beneficiary
with a lump sum amount, which is a decreasing percentage of the initial Sum Assured.
This means that as the outstanding loan decreases as per the loan schedule, the cover
under the policy also decreases as per the policy schedule.
 HDFC Home Loan Protection Plan: This plan aims to protect family from loan
liabilities in case of unfortunate demise within the policy term. It ensures that family does
not lose the dream house that person have purchased for them, in case person is not
around to repay the outstanding monthly installments on their housing loan.
17
HDFC STANDARD LIFE
2. Children's Plans
 HDFC Children's Plan: As a parent, everyone priority is their child’s future and being
able to meet their child’s dreams and aspirations. With HDFC Children’s Plan, they can
start building their savings today and ensure a bright future for their child.
 HDFC Young Star Super: This Plan provides valuable protection to insured person
child in case his/her is not around and gives them an outstanding investment opportunity
to maximize their savings by providing them a choice of thoroughly researched and
selected investments. This plan also gives Bumper Addition to the fund value at Maturity.
 HDFC Young Star Super Suvidha: It is a convenient plan, which saves insured person
from the need of going for Medicals. This Unit Linked Plan provides valuable protection
to his/her child in case he is not around and gives him with an outstanding investment
opportunity to maximize their savings by providing them a choice of thoroughly
researched and selected investments. This plan also gives Bumper Addition to the fund
value at Maturity.
18
HDFC STANDARD LIFE
 HDFC Young Star Supreme Suvidha: This Plan provides valuable protection to insured
person child in case he is not around and gives him an outstanding investment opportunity
to maximize his savings by providing him a choice of thoroughly researched and selected
investments. This plan also gives Bumper Addition to the fund value at Maturity.
 HDFC SL Young Star Champion Suvidha: This is a convenient plan, which saves him
from the need of going for Medicals. This Unit Linked Plan gives him with an outstanding
investment opportunity to maximize his savings by providing you a choice of thoroughly
value at Maturity.
3. Retirement Plans
 HDFC Personal Pension Plan: The HDFC Personal Pension Plan is a ‘With Profits’
insurance policy that is designed to provide a post-retirement income for life with the
freedom to choose your retirement date.
19
HDFC STANDARD LIFE
 HDFC Pension Super: The HDFC Personal Pension Plan is a ‘With Profits’ insurance
policy that is designed to provide a post-retirement income for life with the freedom to
choose your retirement date.
 HDFC Pension Supreme: The HDFC Pension Supreme is Unit Linked plan, designed to
provide a post-retirement income for life with the freedom to choose their retirement date.
This plan gives them with an outstanding investment opportunity to maximize their
savings by providing them a choice of thoroughly researched and selected investments.
This plan also gives Bumper Addition to the fund value at vesting.
 HDFC SL Pension Champion: The HDFC SL Pension Champion is Unit Linked plan,
designed to provide a post-retirement income for life with the freedom to choose their
retirement date. This plan gives them with an outstanding investment opportunity to
maximize their savings by providing them a choice of thoroughly researched and selected
investments. This plan also gives Bumper Addition to the fund value at vesting.
 HDFC SL Unit Linked Pension Maximiser II: HDFC SL Unit Linked Pension
Maximiser II is a unique Single Premium unit linked plan, designed to provide a post-
retirement income for life with the freedom to maximize their investment returns. This
plan also gives Bumper Addition* of 5% of initial single premium at vesting and on death.
20
HDFC STANDARD LIFE
 HDFC Immediate Annuity: The HDFC Immediate Annuity is a contract that uses
investor capital to provide them with a guaranteed gross income throughout their lifetime
or over a period of their choice. The income is guaranteed and is unaffected by the rise
and fall of interest rates. This means the investor can plan their life the way they want it to
be, safe in the knowledge that their gross income will not fall during the period they have
selected. The HDFC Immediate Annuity offers a number of options to meet all their
income needs.
4. Savings & Investment Plans
 HDFC Endowment Super: With HDFC Endowment Super, investors can start building
their savings and it ensures that their family remains financially independent, even when
they are not around. This Unit Linked Plan also gives them with an outstanding
investment opportunity to maximize their savings by providing them a choice of
thoroughly researched and selected investments.
 HDFC Endowment Supreme: With HDFC Endowment Supreme, investors can start
building their savings today and it ensures that their family remains financially
independent, even when they are not around. It is a convenient plan, which saves them
21
HDFC STANDARD LIFE
from the need of going for Medicals. This Unit Linked Plan gives them with an
outstanding investment opportunity to maximize their savings by providing them a choice
of thoroughly researched and selected investments. This plan also gives Bumper Addition
to the fund value at Maturity.
 HDFC SimpliLife: It is a convenient plan, which saves investors from the need of going
for Medicals. This Unit Linked Plan gives them with an outstanding investment
opportunity to maximize their savings by providing them a choice of thoroughly
researched and selected investments.
 HDFC Endowment Super Suvidha: It is a convenient plan, which saves investors from
the need of going for Medicals. This Unit Linked Plan gives them with an outstanding
investment opportunity to maximize their savings by providing you a choice of thoroughly
value at Maturity.
 HDFC Endowment Supreme Suvidha: It is a convenient plan, which saves insured
person from the need of going for Medicals. This Unit Linked Plan gives them with an
outstanding investment opportunity to maximize their savings by providing them a choice
of thoroughly researched and selected investments. This plan also gives Bumper Addition
to the fund value at Maturity.
 HDFC Wealth Builder: HDFC Wealth Builder is an exclusive plan crafted for elite
achievers. An investment cum insurance plan that will actively help in building investor
wealth and give them twin advantage of exclusive funds (actively managed ) along with
choice of limited premium payment term. This plan provides the financial protection to
their loved ones and builds up their wealth effortlessly. This plan also gives Bumper
Addition to the fund value at Maturity.
22
HDFC STANDARD LIFE
 HDFC Endowment Assurance Plan: With HDFC Endowment Assurance Plan, investors
can start building their savings today and ensure that their family remains financially
independent, even when they are not around. This ‘With Profits’ plan is designed to
secure their family’s future by giving their family a guaranteed lump sum on maturity or
in case of their unfortunate demise, early into the policy term.
 HDFC Money Back Plan: With HDFC Money Back Plan, investors can plan now to
ensure that they have the necessary funds to have the necessary funds to secure their long-
term as well as short-term financial goals. This ‘With Profits’ plan gives them a
proportion of the basis Sum Assured as Cash lump sums at regular 5-year intervals within
the policy term.
 HDFC Single Premium Whole of Life Insurance Plan: HDFC Single Premium Whole
of Life Plan is a tailor made plan well suited to meet investors long-term investment needs
and help them to maintain their family’s financial independence. This single premium
investment plan is a Whole of Life plan aimed at providing long-term real growth of their
money.
 HDFC Assurance Plan: HDFC Assurance Plan helps investors conveniently build their
long-term savings while keeping their family’s future protected. This ‘With Profits’
savings plan helps them to build their long-term savings while securing their family’s
future.
 HDFC Savings Assurance Plan: HDFC Savings Assurance Plan is a ‘With Profits’
savings plan which helps investors conveniently build their long-term savings and ensure
that their family is protected even if they are not around.
5. Health Plans
23
HDFC STANDARD LIFE
 HDFC Critical Care Plan: HDFC Critical care plan provides for a lump sum payment
on survival post diagnosis of a critical illness, so that in the event a critical illness strikes,
investors don’t have to dig into those precious savings of them.
 HDFC SurgiCare Plan: HDFC SurgiCare Plan provides investors with timely support in
case they have to undergo a major surgery and hospitalization, as the case maybe,
ensuring their financial independence at all times.
6. Rural Products
 HDFC Gramin Bima Kalyan Yojana

 HDFC Gramin Bima Mitra Yojana
 HDFC Bima Bachat Yojana
7. Social Products
 HDFC Development Insurance Plan
Area of operation
HDFC STANDARD LIFE is operating internationally, that means all over INDIA and
outside India; it is rendering its insurance services including rural places.
24
HDFC STANDARD LIFE
The Management Team

Mr. Amitabh Chaudhry is the Managing Director and Chief Executive Officer of HDFC
Standard Life
Mr. Paresh Parasnis is the Executive Director and Chief Operating Officer of HDFC
Standard Life.
Ms.Vibha Padalkar is the Chief Financial Officer of HDFC Standard Life
Mr. Ashley Rebello is the Chief Actuary and Appointed Actuary of HDFC Standard Life.
Mr.Vikram Mehta heads the Sales and Marketing function for HDFC Standard Life
Mr. Prasun Gajri is the Chief Investment Officer of HDFC Standard Life
Ownership pattern
It is a joint venture between Housing Development Finance Corporation Limited (HDFC
Limited), India's leading housing finance institution and a Group Company of the
Standard Life Plc, UK. As on February 28, 2009 HDFC Ltd. holds 72.43% and
Standard Life (Mauritius Holding) 2006, Ltd. holds 26.00% of equity in the joint
venture, while the rest is held by others.
Associate Companies:
 HDFC Limited
 HDFC Bank
 HDFC Mutual Fund
 HDFC Sales
 HDFC ERGO General Insurance
Infrastructural facilities
25
HDFC STANDARD LIFE
HDFC SL is providing good infrastructural facilities which are required for employees to
perform their work in a better way. During the year, the Company has invested in additional
infrastructure capacity and human capital, in terms of offices, technology, staff, financial
consultants, in order to be well positioned to increase the growth momentum in the year
ahead. The company stepped up the recruitment programme in the latter part of the year in
preparation for the next year.
2.7Awards/achievements
Received CIO 'the Ingenious 100 2009' Award
HDFC Standard Life has received the CIO ‘The Ingenious 100 - 2009 Award,’ for ATLAS
(Agency Training Licensing and Servicing System). Additionally, the company has received
the CIO 100 ‘Security Award 2009’ for pioneering LANDesk Management and Security Suite
security implementation and taking its security to a higher level of technological excellence.
HDFC Standard has received the CIO 100 Award for the third consecutive year. It had
received the 2008 CIO Bold Award for Consultant Corner and CIO Security Award for our
initiatives for a secure computing environment, including Sesame - Identity and Access
Management. In 2007, the company received CIO 100 award for Wonders and a Special
Award in Storage category.
CIO magazine has a long tradition of honoring leading companies for business and
technology leadership and innovations through its flagship award program – CIO 100. It’s a
celebration of 100 organizations (and the people within them) that are using IT in innovative
ways to deliver business value, whether by creating competitive advantage, optimizing
business processes, enabling growth or improving relationships with customers.
Received Diamond EDGE Award 2009
26
HDFC STANDARD LIFE
HDFC Standard Life has received the Diamond EDGE Award 2009 for its mobile workforce
portal - Consultant Corner. EDGE - Enterprises Driving Growth and Excellence (using IT) is
an initiative by the ,Network Computing magazine to identify, recognize, and honors end-user
companies in India that have demonstrated the best use of technology to solve a business
problem, improve business competitiveness, and deliver quantifiable ROI to stakeholders.
Network Computing magazine is part of CMP Technology, which brings more than 100 IT
media brands to more than 18 million technology and business decision makers worldwide.
Received 2008 CIO Bold 100 and CIO Security Awards
HDFC Standard Life has received the 2008 CIO Bold 100 Award. This annual award
recognizes organizations that exemplify the highest level of operational and strategic
excellence in information technology. This year's award theme, ‘The Bold 100,’ recognized
those executives and organizations that embraced great risk for the sake of great reward.
HDFC Standard Life has also been one of the five recipients of the Special 2008 CIO Security
Award aimed at CIOs, whose pioneering implementations have taken their enterprise security
to the next level. This award category identifies innovative and groundbreaking deployment
of technologies aimed at creating a secure business infrastructure. The company received the
2008 CIO Bold Award for its mobile workforce portal and the CIO Security Award for its
initiatives for a secure computing environment, including identity management.
Received PCQuest Best IT Implementation Award 2008
HDFC Standard Life received the PCQuest Best IT Implementation Award 2008 for
Consultant Corner, the applications for its financial consultants, providing centralized control
over a vast geographical spread for key business units such as inventory, training, licensing,
etc. HDFC Standard Life has won the PCQuest Best IT Implementation Award for two years
consequently. Last year, the company received the award for Wonders, its path-breaking
implementation of an enterprise-wide workflow system.
27
HDFC STANDARD LIFE
Silver Abby at Goafest 2008
HDFC Standard Life's radio spot for Pension Plans won a Silver Abby in the radio writing
craft category at the Goafest 2008 organized by the Advertising Agencies Association of India
(AAAI). The radio commercial ‘Pata nahin chala’ touched several changes in life in the blink
of an eye through an old man’s perspective. The objective was drive awareness and ask
people to invest in a pension plan to live life to the fullest even after retirement, without
compromising on one’s self-respect
Unit Linked Savings Plan Tops Mint Best TV Ads Survey
The Unit Linked Savings Plan advertisement of HDFC Standard Life, one of the leading
private insurance companies in India, has topped Mint’s Top Television Advertisement
survey conducted, for February 2008. HDFC Standard Life’s Unit Linked Savings Plan
advertisement was ranked 4th in terms of a combined score of ad awareness and brand recall
and 3rd in terms of ad diagnostic scores (likeability, enjoyment, believability, and claim).
Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007
Mr. Deepak M Satwalekar, Managing Director and CEO, HDFC Standard Life, received the
QIMPRO Gold Standard Award 2007 in the business category at the 18th annual Qimpro
Awards function. The award celebrates excellence in individual performance and highlights
the quality achievements of extraordinary individuals in an era of global competition and
expectations.
Sar Utha Ke Jiyo among India’s 60 Glorious Advertising Moments
HDFC Standard Life’s advertising slogan honored as one of ‘60 Glorious Advertising &
Marketing Moments' over the last 60 years in India,’ by 4Ps Business and Marketing
magazine. The magazine said that HDFC Standard Life is one of the first private insurers to
break the ice using the idea of self respect (Sar Utha Ke Jiyo) instead of 'death' to convey its
brand proposition. This was then, followed by others including ICCI Prudential, thus giving
28
HDFC STANDARD LIFE
HDFC Standard Life the credit of bringing up one such glorious advertising and marketing
moment in the last 60 years.
2.8Future growth and prospects

New Business Market Share
HDFC Standard Life growing steadily
BAJAJ ALLIANZ: 8%
BIRLA SUNLIFE: 5%
REALIANCE LIFE: 6%
HDFC SL: 5%
MAX NEW YORK: 3%

OTHERS: 59%
SBI LIFE: 9%
LIC: 40%
Thus from the above diagram we can say that HDFC SL is growing steadily as it is acquiring
market share from 4.10% to 4.5% in march 2009. Through many strategies like: advertising,
good service to customers than competitors etc…, it can acquire a good market share in future
Thus from the above diagram we can say that HDFC SL is growing steadily as it is acquiring
market share from 4.10% to 4.5% in march 2009. Through many strategies like: advertising,
good service to customers than competitors etc…, it can acquire a good market share in future
also.
29
HDFC STANDARD LIFE
Five S Models
5- S Model is followed by HDFC STANDARD LIFE instead of 7- s Model
Introduction:
FIVE S is a basic and the simplest methodology used to establish and maintain quality
environment in organization. It is a part of a Japanese philosophy known as Kaizen; Kai in
Japanese means, “to change” and Zen means “for better”. It involves setting standards and
then continuously improving on those standards to achieve their goals.
The ultimate goal of 5s is to make the workplace more effective and efficient by its own
people in a short span of time so that efficiency of that workplace is enhanced in an
innovative and sustainable manner. Thus it requires active involvement of everyone in the
organization across the hierarchy and to come up with suggestions on regular basis.
The name stands for five Japanese words
Japanese English
S1 SEIRI SORTING
S2 SEITON SYSTEMATIC ARRANGEMENT
S3 SEISO SPIC N SPAN/SANITIZE
S4 SEIKETSU STANDARDISE
S5 SHITSUKE SELF DISCIPLINE/SUSTENANCE
30
HDFC STANDARD LIFE
BENEFITS OF 5S:
• Can be started immediately.
• Reduces wastages and fatigue.
• Improves the efficiency of workplace and wastages are made visible.
• Improves self – organization and overall self –appearance of company.
• Everyone can participate and does not require any quality background.
• Brings in the feelings of ownership of workplace.
Thus the 5s are the pillars of visually managed workplace. This process starts with identifying
the area where 5s is to be deployed. It can be a single workstation or area as big as entire
office. Teams are nominated for carrying out the 5s and to ensure that everyone on a regular
basis practices it.
In detail:
S1 sorting:
The meaning of s1 that is sorting is to “straighten and contain “ that is to divide the objects
into 2 groups one that is “needed” and other that is “wanted and then remaining the unneeded
ones from the workplace.
Needed items: “needed items” are items that are critical in terms of existence at the
workplace and are required from process point of view.
Wanted items: wanted items are those, which we want, but are not required from process
point of view. We can also determine the criteria to distinguish between the need and want
items.
31
HDFC STANDARD LIFE
Red Tag Square (R.T.S)
The use of a red tag square is generally during the time of a blitz, that is during the blitz the
material identified as obvious scrap and other “abnormal material” shall be parked in a
common place which will be known as “Red Tag Square”, however the items which are in
excess quantities can also be put in the R.T.S and be noted in the Red Tag Matrix.
S 2 systematic arrangements:
“Place for everything and everything in place”.
After the “needed” and “wanted” items are identified properly and the R.T items have been
parked at the R.T.S.
The next step is to identify the right place for all the needed /wanted items kept at workplace.
Workstation illustration:
The layout of the workplace should be prepared in such a manner so that the owners know the
exact location. Layout helps the owner to locate the workplace and assign responsibilities to
his team. Again the “needed” and “wanted” items (from need want matrix) needs to taken into
consideration. So that place to keep them can be decided according to the frequency or usage.
Storeroom illustration:
After sorting out the needed and unneeded items and putting the unneeded items in the red tag
square, one must make the layout of the store and start specifying the areas where the things
are supposed to be placed. It is very important to allocate right areas so that no rework needs
to be done.
32
HDFC STANDARD LIFE
S 3 : Spin N Span
“Cleaning with meaning” and “cleaning is inspection”
Sanitize means keeping things clean and in order. It is a maintenance made, which looks for
damages, defects and potential problems.
Once s1 and s2 have been done it is the responsibilities of the staff to ensure that s3 is done on
regular basis so that the items stored are properly identified.
S4 – Standardize:
This step is about making standards for all the procedures and practices followed in five s.
 Abnormality identification register
 R.T. Matrix
 Cabinet index
 Master index
 Store master index
S5 – discipline:
The main objective of five s is to follow and spread the learning to others. All employees need
to keep five s as an ongoing improvement plan and for that there is a fifth s that emphasizes
on ‘sustenance’. It is the culmination of s1, s2, s3, and s4, which is likely to happen over a
period of time.
33
HDFC STANDARD LIFE
MCKINSEY 7-S MODEL
The 7-s model with reference to Hdfc standard life:
The 7s model is better known as Mc-Kinsey 7’s. This is because the persons who developed
this model Robert H Waterman, Jr., Thomas J. peters and Julian R Philips have been
consultants at MC-Kinsey and co. they published their 7’s model in their article
STRUCTURE IS NOT ORGANISTATION(1980) and in their books THE ART OF
JAPANESE MANAGEMENT (1981) and IN SEARCH OF EXCELLENCE(1982).
Productive organization change is not simply a matter of structure, although strategy is critical
too. Our claim is that effective organizational change is really the relationship between
structure, strategy, systems, styles, skills, staff and something we call super-ordinate goals.
Our central idea is that organization effectives, systems from the interaction of several factor-
some especially obvious and some under analyzed. Our framework for organization change
graphically depicted the figure.
34
HDFC STANDARD LIFE
STRUCTURE
In the hdfc standard life each and every department is empowered with the officer, clerk and
sub staff. The authority is delegated to officer/manager to extract work from the staff. The
each department consists of members based on its requirements.
Thus it is having an effective work on the various activities efficiently and effectively.
SKILLS
It is a more reputed insurance company, as it is providing financial solution of where to

invest, how to invest and number of products with having more benefits to investors. It has
reputed customers who are loyal to the organization. The service given to the customers are
accomplished as per their requirements. Financial services generally do mass supporting
services are rendered to all types (classes) of customers. More over the people feel their task
is in safe hands of the industry. The organization is having various capabilities over the
competitors. These skills are unique from the competitors of hdfc standard life.
The skills are broadly categorized as follows:-
Market knowledge, analytical skills, Services, Research, Personal/administration, Soft skills,

Supporting, Medical, Finance, Information relations, others
STYLE
Hdfc standard life follows tip down/bottom up style in its management, where in each major
decision regarding the company is taken in tip down fashion and other decision like targets
and growth aspects hdfc standard life follows bottom up style.
We think it is important to distinguish between the basic personality of a top management

team and the way the team comes across to the organization. Organization may listen to what
managers say but they believe what managers do. Not words, but pattern of action is decisive.
The power of style then is essentially manageable.
35
HDFC STANDARD LIFE
One aspect of style is symbolic behavior. Typically have more people on board who
understand exploration are have headed exploration department. Typically they fund
exploration more consistently.
STRATEGY
By “strategy” we mean those actions that a company plans in response to or anticipation of

changes in its customers, its competitors. Strategy is the way A Company aims to improve its
position vis-à-vis competition perhaps through low cost production or delivery, perhaps by
providing better value to the customer, perhaps by achieving sales and service dominance. it
is, or ought to be, an organization way of saying:” here is how we will create unique value”.
The hdfc standard has set of objectives, strategies to achieve the objective, the course of
action to be taken to achieve the objective and guidelines for the course of action.
Hdfc standard adopts low pricing strategy to generate huge returns and good market share in
the industry, since it has well expanded its business all over INDIA.
Hdfc standard life charges minimal to its clients for the services. It provides more benefits to
customers compared to its competitor. Hence it is known for the good pricing strategy in the
industry.
SYSTEM
The hdfc standard life has various techniques to control this procedure as system like to
improve the back office targets by giving addition support.
Information system: the implementation of computers has made information flow fast and
reliable. The information is versatile. Since hdfc standard life has good backup system.
36
HDFC STANDARD LIFE
Recruitment, training and development system
Recruitment process starts with the identification of the vacancies by the department head of
the respective department. A form requesting for the human resource is sent from the
department to HRD.
STAFF
Staff (in the sense of people, not line/staff) is often treated in one of two ways. At the hard
end of the spectrum, we talk of appraisal systems, pay scales, formal training program and the
like. At the soft end, we talk about morale, attitudes, motivation and behavior.
The hdfc standard life is in the course of cutting down the cost of service. If it starts
recruiting, the selection is done based on the education qualification first class degree.
The various training program to the employees are taken like refresher course, job rotation
and job training. The promotion in the organization is taken place based upon the service,
seniority and educational qualification. The performance appraisal is also taken as a basis for
promotion so officer’s staff makes it.
SHARED VALUES
Unlike the other six S’s, super ordinate goals don’t seem to be present in all, or even most,
organizations. They are, however, evident in most of the superior performers.
The value shared by the members of an enterprise is known as the shared values. The
organization of HDFC STANDARD LIFE is having a strategy of sharing values.
37
HDFC STANDARD LIFE
Chapter-3
Design of the study
3.1TITLE OF THE STUDY:
The study conducted is titled as “An Organizational Study at HDFC Standard life
insurance”.at Bangalore
3.2OBJECTIVES OF THE STUDY:
The main objectives as follows
• To have practical orientation of the functions of the various

departments of the company
• To understand the application of theoretical concepts into business

decisions in the organization.
• To analyze the performance of the company.
• To understand the aspects of delegation of authority, responsibility,

cooperation and team work etc.
• To gain all-round view of management operation.
• To analyze the present status and future strategies of the company.
• To understand the behavior and culture of an organization.
3.3 SCOPE OF THE STUDY:
• The study is conducted at HDFC life insurance, Bangalore targeted to study the
overall organization to know how practical orientation of theoretical concepts takes
place in the organization. Studying various departments in the organization backed by
38
HDFC STANDARD LIFE
personal interview and observation with the different employees of different

departments. The study more relayed on exploratory research that is collecting
secondary information.
3.4METHODOLOGY OF THE STUDY:
The project work entitled “AN ORGANIZATIONAL STUDY ON HDFC

STANDARD LIFE INSURANCE” and all its various activities which cover lot
variety of function like production, marketing, finance, human resource and services.
Data collection:The data are the basic input to any research programmed which is
very important to know the importance of the study stated earlier the data is classified
into primary data and secondary data.
Primary data it is the data which is collected for the first time by the researcher by
direct observation method, personal interview, questionnaires.
Secondary data which is obtained from existing records, publications, company

literature, journals, magazines, annual reports etc.
Her the data which is mainly relayed on the secondary data which is the main
source for the collection of data .The data is collected from the company manuals &
journals, present projects ,publications etc
3.5 LIMITATIONS OF THESTUDY:
• The time what I took was short period
• I have made my research in one branch of HDFC Life insurance
• All the respondents have not answered frankly
• The sample was taken just from one branch
39
HDFC STANDARD LIFE
Chapter 4
DEPATMENTAL STUDY
4.1 ADMINISTRATION AND PERSONNEL (A&PD)
- To provide good infrastructure facilities for employees.
- To maintain good housekeeping and to safe guard and maintain the assets of the
corporation.
- To effectively handle the purchase function.
- To identify skill sets/training needs repairs for effective functioning of provide

training.
Personnel Management refers to a set of programs, activities and functions designed and
carried out in order to maximize both employee as well as organizational effectiveness
According to Jucius, human resource or human factors refer to “a whole consisting of inter-
related, inter-dependent and interacting, physiological, psychological, sociological and ethical
components". Thus human resource represents the quantitative and qualitative measurement
of workforce required in an organization.Standard Life (HDFC-SL) needed its Financial
Consultants (insurance agents) to spend more time with prospective and existing clients. This
would help the company to sell more insurance plans and hence improve its bottom line.
40
HDFC STANDARD LIFE
Before the new solution was implemented, its Financial Consultants (FC’s) spent too much
time trying to access information for sales and life-cycle servicing through the call center or
operations departments. There was a need for a solution that would let the FC’s directly
access such information 24/7.
The company decided to build an end-to-end online solution to service most of the
requirements of the FC’s. It is aptly called ‘Mobile Workforce Solution’. The solution
comprises a portal that integrates e-mail and mobile services. This lets the system send SMS
or e-mail-based updates and alerts to FC’s and vendors. Similarly, the FC’s can update the
status of the prospect discussion to the database of the Mobile Workforce Solution by sending
a SMS.
The solution provides FC’s with sales tools like premium calculators and tax saving
calculators, which have played a huge role in equipping FC’s with the required knowledge to
complete the sales process smoothly. The portal includes features for agent training and MIS
generation. The hierarchical reporting tool collates information pools of data and displays it to
key users.
My designation is of recruitment consultant which is related to the marketing department of

field wok, telecalling From the organization I studied
Who can be the financial consultant?
Section 42(4) of the amended Insurance Act, 1938 states an agent to be one who is not: A
minor.
• Found to be sound mind by a court of competition jurisdiction.

• Found guilty of criminal background.
• Found guilty of having knowingly participated in or connived at any fraud /dishonesty
or misrepresentation against an insured.
Work of financial consultant:
41
HDFC STANDARD LIFE
The FC is the interface between the customer and insurance company. l The agent should be
able to accomplish the following service.
• Assessing and analyzing the clients risk profile.

• Finding the best product or products available in the market.
• Negotiating the best deal available.
• Continuity of service throughout the period of insurance.
BENEFITS OF BEING A FINANCIAL CONSULTANT
Financial consultant, the right way to start career:
As a financial consultant the role will be to identify prospective customer. You will makes
presentation, as to how you can help analyses their financial needs, provide customize
financial solution to cater to their respective needs and conduct reviews on regular basis to
keep customers on thank.
Easy way to start on career:
Zero investment: There is no start-up capital. Be an own boss with a flexible working
environment, unlimited earning potential and the opportunity to be part of world class sales
team.
Flexible work timings, part time or full time: FCs can work whenever he likes and from
whereeve4r he like, FCs can work full time depending on their convenience its like no other
job however, the time.
Sunrise industry: Life insurance in India has a huge potential for growth Statistics reveal that
only 25% of the insurable population in India is insured and those insured are in need of still
higher insurance cover. The over 100% growth displayed by private life insurers indicates this
hu7ge untapped potential.
PROFESSIONAL TRAINING PROGRAMS AND CONTINUID GUIDANCE:
42
HDFC STANDARD LIFE
At HDFC standard training is an inherent element of our support system for FC’s. Some of
our training and support initiative are as:
IRDA Training: Online training of 100 hrs. prepares for career as FCs and enables to pass the
IRDA examination. After the IRDA license, first step towards a successful career as a FC.
Basic Training and Induction: Independence of work experience, this training will give
perfect knowledge about the insurance industry along with comprehensive knowledge about
the insurance along with comprehensive knowledge abut HDFC SLIC Product.
Disha training: This is a professional sales skill program eased by us to one selling skills.
Those program enable to understand customer need and provide need based insurance
solution.. A huge step from an amateur to a true finance professional.
Advance Training: Once Fc have settled down as a FC professional we will continuously

upgrade capability and knowledge through sophisticated training program, fit for this
dynamic world of financial products and markets.
UNMATCHED SUPPORT:
Marketing activity support to make task easier.
 Advertising and communication support throughout the year.

 Customer friendly broachers and sales aid to help in selling insurance solutions to
customers.
24- hours information support, to help track the performance and income.
43
HDFC STANDARD LIFE
4.2 MARKETING DEPARTMENT:
Marketing department takes care of the marketing of all the products of the company. It helps
in the increase of the business. It plays the major role in making the people aware of their
product. It concentrates on making the strategies of how to increase the sales of the products.
How they can segment the market to tap out its maximum potential profits. It also works on
sales promotion to increase the sales of company.
Insurance is a financial service for collecting the savings of the public and providing them
with risk coverage. The main function of Insurance is to provide protection against the
possible chances of generating losses. It eliminates worries and miseries of losses by
destruction of property and death. It also provides capital to the society as the funds
accumulated are invested in productive heads.
Insurance comes under the service sector and while marketing this service, due care is to be
taken in quality product and customer satisfaction. While marketing the services, it is also
pertinent that they think about the innovative promotional measures. It is not sufficient that
you perform well but it is also important that you let others know about the quality of your
positive contributions.
The creativity in the promotional measures is the need of the hour. The advertisement, public
relations, word of mouth communication needs due care and personal selling requires
intensive care.
Insurance marketing:
44
HDFC STANDARD LIFE
The term Insurance Marketing refers to the marketing of Insurance services with the aim to
create customer and generate profit through customer satisfaction. The Insurance Marketing
focuses on the formulation of an ideal mix for Insurance business so that the Insurance
organization survives and thrives in the right perspective.
Marketing –mix for insurance companies:

The marketing mix is the combination of marketing activities that an organization engages in
so as to best meet the needs of its targeted market. The Insurance business deals in selling
services and Therefore due weight age in the formation of marketing mix for the Insurance
business is needed.
The marketing mix includes sub-mixes of the 7 P’s of marketing i.e. the product, its price,
place, promotion, people, process & physical attraction. The above mentioned 7 P’s can be
used for marketing of Insurance products, in the following manner:
1. PRODUCT:
A product means what we produce. If we produce goods, it means tangible product and when
we produce or generate services, it means intangible service product. A product is both what a
seller has to sell and a buyer has to buy. Thus, an Insurance company sells services and
therefore services are their product. In India, the Life Insurance Corporation of India (LIC)
and the General Insurance Corporation (GIC) are the two leading companies offering
insurance services to the users. Apart from offering life insurance policies, they also offer
underwriting and consulting services.
When a person or an organization buys an Insurance policy from the insurance company, he
not only buys a policy, but along with it the assistance and advice of the agent, the prestige of
the insurance company and the facilities of claims and compensation.
45
HDFC STANDARD LIFE
It is natural that the users expect a reasonable return for their investment and the insurance
Companies want to maximize their profitability. Hence, while deciding the product portfolio
or the product-mix, the services or the schemes should be motivational.
The Group Insurance scheme is required to be promoted, the Crop Insurance is required to be
expanded and the new schemes and policies for the villagers or the rural population are to be
included.
The Life Insurance Corporation has intensified efforts to promote urban savings, but as far as
rural savings are concerned, it is not that impressive. The introduction of Rural Career Agents
Scheme has been found instrumental in inducing the rural prospects but the process is at
infant stage and requires more professional excellence. The policy makers are required to
activate the efforts. It would be prudent that the LIC is allowed to pursue a policy of direct
investment for rural development.
Investment in Government securities should be stopped and the investment should be

channelized in private sector for maximizing profits. In short, the formulation of product-mix
should be in the face of innovative product strategy. While initiating the innovative process it
is necessary to take into consideration the strategies adopted by private and foreign insurance
companies.
2. PRICING:
In the insurance business the pricing decisions are concerned with:
i) The premium charged against the policies,
ii) Interest charged for defaulting the payment of premium and credit facility, and
iii) Commission charged for underwriting and consultancy activities.
With a view of influencing the target market or prospects the formulation of pricing strategy
46
HDFC STANDARD LIFE
becomes significant. In a developing country like India where the disposable income in the
hands of prospects is low, the pricing decision also governs the transformation of potential
policyholders into actual policyholders. The strategies may be high or low pricing keeping in
view the level or standard of customers or the policy holders.
The pricing in insurance is in the form of premium rates. The three main factors used for
determining the premium rates under a life insurance plan are mortality, expense and interest.
The premium rates are revised if there are any significant changes in any of these factors.
• Mortality (deaths in a particular area): When deciding upon the pricing strategy the average
rate of mortality is one of the main considerations. In a country like South Africa the threat to
life is very important as it is played by host of diseases.
• Expenses: The cost of processing, commission to agents, reinsurance companies as well as

registration are all incorporated into the cost of installments and premium sum and forms the
integral part of the pricing strategy.
• Interest: The rate of interest is one of the major factors which determine people’s
willingness to invest in insurance. People would not be willing to put their funds to invest in
insurance business if the interest rates provided by the banks or other financial instruments are
much greater than the perceived returns from the insurance premiums.
3. PLACE:
This component of the marketing mix is related to two important facets –
i) Managing the insurance personnel, and
ii) Locating a branch.
The management of agents and insurance personnel is found significant with the viewpoint of
47
HDFC STANDARD LIFE
Maintaining the norms for offering the services. This is also to process the services to the end
user in such a way that a gap between the services- promised and services – offered is bridged
over. In a majority of the service generating organizations, such a gap is found existent which
has been instrumental in making worse the image problem.
The transformation of potential policyholders to the actual policyholders is a difficult task that
depends upon the professional excellence of the personnel. The agents and the rural career
agents acting as a link, lack professionalism. The front-line staff and the branch managers also
are found not assigning due weight age to the degeneration process. The insurance personnel
if not managed properly would make all efforts insensitive. Even if the policy makers make
provision for the quality up gradation, the promised services hardly reach to the end users.
It is also essential that they have rural orientation and are well aware of the lifestyles of the
prospects or users.
They are required to be given adequate incentives to show their excellence. While recruiting
agents, the branch managers need to prefer local persons and provide them Training and
conduct seminars. In addition to the agents, the front-line staff also needs an intensive training
programme to focus mainly on behavioral management.
Another important dimension to the Place Mix is related to the location of the insurance
branches. While locating branches, the branch manager needs to consider a number of factors,
such as smooth accessibility, availability of infrastructural facilities and the management of
branch offices and premises. In addition it is also significant to provide safety measures and
also factors like office furnishing, civic amenities and facilities, parking facilities and interior
office decoration should be given proper attention.
Thus the place management of insurance branch offices needs a new vision, distinct approach
and an innovative style. This is essential to make the work place conducive, attractive and
48
HDFC STANDARD LIFE
proactive for the generation of efficiency among employees. The branch managers need
professional excellence to make place decisions productive.
4. PROMOTION:
The insurance services depend on effective promotional measures. In a country like India, the
rate of illiteracy is very high and the rural economy has dominance in the national economy. It
is essential to have both personal and impersonal promotion strategies. In promoting
insurance business, the agents and the rural career agents play an important role. Due
attention should be given in selecting the promotional tools for agents and rural career agents
and even for the branch managers and front line staff. They also have to be given proper
training in order to create impulse buying.
Advertising and Publicity, organization of conferences and seminars, incentive to

policyholders are impersonal communication. Arranging Kirtans, exhibitions, participation in
fairs and festivals, rural wall paintings and publicity drive through the mobile publicity van
units would be effective in creating the impulse buying and the rural prospects would be
easily transformed into actual policyholders.
5. PEOPLE:
Understanding the customer better allows to design appropriate products. Being service
industry which involves a high level of people interaction, it is very important to use this
resource efficiently in order to satisfy customers. Training, development and strong
relationships with intermediaries are the key areas to be kept under consideration. Training
49
HDFC STANDARD LIFE
the employees, use of IT for efficiency, both at the staff and agent level, is one of the
important areas to look into.
6. PROCESS:
The process should be customer friendly in insurance industry. The speed and accuracy of
payment is of great importance. The processing method should be easy and convenient to the
customers. Installment schemes should be streamlined to cater to the ever growing demands
of the customers. IT & Data Warehousing will smoothen the process flow. IT will help in
servicing large no. of customers efficiently and bring down overheads. Technology can either
complement or supplement the channels of distribution cost effectively. It can also help to
improve customer service levels. The use of data warehousing management and mining will
help to find out the profitability and potential of various customers product segments.
7. PHYSICAL DISTRIBUTION:
Distribution is a key determinant of success for all insurance companies. Today, the
nationalized insurers have a large reach and presence in India. Building a distribution network
is very expensive and time consuming. If the insurers are willing to take advantage of India’s
large population and reach a profitable mass of customers, then new distribution avenues and
alliances will be necessary. Initially insurance was looked upon as a complex product with a
high advice and service component.
Buyers prefer a face-to-face interaction and they place a high premium on brand names and
50
HDFC STANDARD LIFE
reliability. As the awareness increases, the product becomes simpler and they become off-the-
shelf commodity products. Today, various intermediaries, not necessarily insurance
companies, are selling insurance. For example, in UK, retailer like Marks & Spencer sells
insurance products. The financial services industries have successfully used remote
distribution channels such as telephone or internet so as to reach more customers, avoid
intermediaries, bring down overheads and increase profitability. A good example is UK
insurer Direct Line. It relied on telephone sales and low pricing.
Today, it is one of the largest motor insurance operator. Technology will not replace a
distribution network though it will offer advantages like better customer service. Finance
companies and banks can emerge as an attractive distribution channel for insurance in India.
In Netherlands, financial services firms provide an entire range of products including bank
accounts, motor, home and life insurance and pensions. In France, half of the life insurance
sales are made through banks. In India also, banks hope to maximize expensive existing
networks by selling a range of products. It is anticipated that rather than formal ownership
arrangements, a loose network of alliance between insurers and banks will emerge, popularly
known as banc assurance.
Another innovative distribution channel that could be used are the non-financial
organizations. For an example, insurance for consumer items like fridge and TV can be
offered at the point of sale. This increases the likelihood of insurance sales. Alliances with
manufacturers or retailers of consumer goods will be possible and insurance can be one of the
various incentives offered.
51
HDFC STANDARD LIFE
SALES DEPARTMENT:
Controlling the sales force that brings the business to the company. Maintain the regular flow
of information about the product. These are sales manager only who see after the acquiring
and maintaining their agents. The sales manager goes to different places and acquires the sales
agents who are IRDA certified.
Strategies:
Strategies Employed to achieve the target are as follows:-
 Telecalling
 Contacting the person directly (interview)
 Collect references.
Some important steps to make effective telecalling:-
Open the call in a friendly and positive way.
State the name, position and company name.
Check the prospect has time to speak.
State the reason for the call.
Clearly succinctly explain how the meeting will be benefiting the prospect.
India is one of the most lucrative financial services market in the world. The insurance market
in India is estimated to be around 400 bn growing at an astounding rate of 30% p.a. Still the
experts believe that the potential is largely untapped. The insurance market is dominated by
the public sector giant LIC with a market share of around 71.4%.
52
HDFC STANDARD LIFE
With the private players leading the growth story, this sector is witnessing more marketing
actions than even the FMCG sector. Traditionally insurance are sold through direct selling.
The reason being purely the nature of product warrants direct communication with the
consumer. Kotler categorizes Insurance as an "Unsought" product . Unsought products are
those which are ranked lowest in terms of consumer interest.
Consumers may not be even aware of either the need or existence of such products.
Historically, Indian insurance products are sold for wrong reasons. People buy insurance to
avail the tax benefit and not to ensure protection and LIC was happy to oblige. Hence most of
the sales talks start with the question " How much do you pay tax?" . Little money was spent
on brand building because there was no competition for LIC.
Things have now changed. With the increasing financial literacy, volatile economy and
uncertain future are prompting Indians to look seriously at insurance as a means for protection
rather than tax saving instrument. With more private players entering the domain, the issues
of differentiation and branding became important.
HDFC Standard Life Insurance (HDFCSL) is one of the major players in the insurance
market. One of the first private insurers to enter the market, HDFC SL entered the scene in
2000. It is a joint venture between the housing finance major HDFC and the UK insurance
giant Standard Life.Now a days we are seeing a lot of media action from this company.
Although a slow starter HDFC SL was having a small share of the pie.
It was eclipsed by ICICI prudential with its media and sales blitz making it second largest
player in the Insurance market. 2006 saw a shake up in this market with Bajaj Allianz edging
out ICICI from the second spot . Bajaj have a market share of around 8% and HDFC SL and
ICICI fighting at 3rd place with around 7.5%.
53
HDFC STANDARD LIFE
HDFC is currently focusing on The Pension Plan and the Child Plan aiming to cash in on the
potential of these segments. The pension market in India is estimated to be around 1000 crore
with a huge potential for growth in the future.
The change in the demographics is going to drive the pension market in India. Traditionally in
a Joint family, there was an inherent protection for elders. With the urbanization and the
evolution of Nuclear Urban Family ( NUF) , elders are often forgotten. Out of the 314 mn
workers in India only 11% has some sort of old age security. People earlier depend on social
security products like EPF and PPF to build a corpus for their golden years.
It is this potential that has encouraged HDFC to promote its pension plans. Introduced in
2002, this product has been well received by the consumers. The ads are well executed and
revolve around the positioning of "Respect Yourself". The target segment being the 30 year
old family man. The basic theme of the campaign is to appeal to the self respect of these men
who are in their prime of their career. "Even after retirement let your hands give rather than
receive" is one of the best themes for a pension plan. Since I am in that category, this ad
strikes a chord in me and reminds me of the need to plan for my retirement. The same theme
is carried to the Child plan also.
Although these campaigns will help to invoke an interest in TG, the market is in its nascent
stage and lot of convincing has to be done to crack this huge market. One of the stumbling
block being the expensive annuity plans. it looks unattractive in the first look compared to
MFs. For example , it takes a 2 lakh corpus to generate Rs 1000 per month pension. Also if
you put 10000 per month in a pension plan if you are 30 yrs old, what you will get after 20
years is a monthly pension of 10000. ( correct me if I am wrong). So HDFC Standard Life has
correctly identified the pulse of the target market and is all set to reap the benefits.
54
HDFC STANDARD LIFE
4.3FINANCE DEPARTMENT:
This department keeps the proper track record of all the transactions taking place. It maintains
the record of all the insurance policies being issued and their premium payments. HDFC
Standard Life Insurance Co Ltd with an income of Rs 2,680 crore in FY2007-08, registering
a year-on-year growth of 64%. Its market share is 2.88% and it ranks 6th among the insurance
companies and 5th amongst the private players.
High quality research is therefore key to achieving this out-performance. While an individual
stock or sector or asset class can be influenced by sentiment, liquidity or other such factors in
the short term, over the long term market prices are based on “fundamental values”. For this
reason, we follow an investment process that is based on the fundamental evaluation of each
individual security. We have access to the best internal and external data available and are
always looking for new sources of high quality information
The Investment Committee of HDFC Standard Life comprises top management of HDFC
Group and HDFC Standard Life and plays a pivotal role in defining long term investment
policies, strategic asset allocation and monitoring the Investment team performance on a
continuous basis. The Investment decision making process is defined and has clear
responsibilities and discretion articulated at various levels. Key elements to the investment
55
HDFC STANDARD LIFE
process include asset allocation, stock selection, portfolio construction, risk management and
dealing.
Risk Management
Risk management is a critical function in the Investment process and is monitored at multiple
levels like Fund risk, Operational Risk, Market Risk and Stock / Instrument Specific Risk. We
also believe that discipline is critical in managing funds over a longer tenure. We have
therefore set different benchmarks for the funds we manage and fund performance is closely
monitored against the set benchmarks.
We strive to generate higher risk-adjusted returns over a longer period of time.To sum up, our
endeavor is to generate for our policyholders, consistent, risk-adjusted returns in a disciplined
and repeatable manner with the aim of beating the defined benchmarks by active fund
management.
Highlights of Financial Year 2007-08
• New Business Premium Income up by 63% to Rs. 2,685 crores. Total Premium
Income is up by 70% at Rs. 4,859 crores as against Rs. 2,856 crores in FY2006-07
• Alternate Channels including banc assurance has recorded an impressive growth of
over 63% to contribute 41% to the Effective Premium Income (EPI)
• Group business funds under management have increased to Rs. 959 crores, registering
a growth of 83% over FY2006-07
• The average premium has increased to Rs. 33,000
• Company products and services are now available in 726 cities and towns across the
country
• Strength of Financial Consultants has increased to 1, 45, 000.
56
HDFC STANDARD LIFE
Chapter-5
SWOT ANALYSIS
STRENGTHS
1. HDFC Standard life insurance offers a range of individual and group insurance solutions.
2. HDFC Standard Life has the financial expertise required to manage your long-term
investments safely and efficiently.
3. Rated ‘AAA’ by CRISIL and ICRA for the 10th consecutive year for High service
standards
4. Life insurance industry is a rapid growing and a nobler service industry.
WEAKNESSES
57
HDFC STANDARD LIFE
1. LIC is prevalent and sustains even today a major source of population.
2. Low number of offices and network and number of life insurance agents.
3. Lack of knowledge and expertise.
OPPORTUNTIIES
1. Life insurance has captured its mere15 – 20% growth therefore a wide open untapped
market is open to the company to develop, grow and measure its success.
2. Still the numbers of companies are few and company has every capability to grow and
forward its performance areas to the widest.
THREATS
1. People are hesitant to invest and put their hard earned money to the private life insurance
company with the fear of getting lost.
2. Belief towards LIC as it is a government corporation phobia is continue to surmount the

people of India despite lots of flaws and development and liberalization of life insurance.
58
HDFC STANDARD LIFE
3. Alternative financial services such as mutual fund, banking services, share and securities
also pose problems and threats to the working of the life insurance sector.
4. Illiteracy and unemployment also pose threat.
5. Rising real estate industry also pose threat as people are investing a bulk of their money
over to that industry.
Chapter-6
FINDINGS & SUGGESTIONS
FINDINGS
• Associated with another company.
• Low sales.
• Private Player.
• Lack of awareness
• People are less aware about the private insurance company in market.
• Some people are like to join HDFC as FC’s because it is a Part-time occupation.
• Many professions like CA, tax planner want a corporate agency rather than to be a
financial consultant.
59
HDFC STANDARD LIFE
• HDFC is too selective in making a FC rather than to appoint any one like LIC.
• Customers don’t want to join as financial consultant because it’s on commission basis
the4y want job on salary basis.
• Educated customers are now vending towards private insurance Companies, due to the
attractive packages and services provided by various new insurance companies.
• LIC has created a branded image in 3-4 decades, due to which new insurance
companies are facing trouble in capturing market share.
• If the customers are joining HDFC the segment is more of tax consultant, investment
for consultant and other people who are engaged in investment business that is
because they want to diversity their portfolio.
• HDFC SLIC is having good retention strategies for their financial consultant.
SUGGESSITIONS
a. It can try to create awareness about this company through some programmes.
b. There may be proper and immediate response in case of any queries from customers.
c. It can concentrate to increase its sales revenue as finance is life blood of any business.
d. It is able try to increase its profits through using better portfolios.
60
HDFC STANDARD LIFE
e. There can be an outstanding after sales service which is one of the important factors.
f. There may be more effective response in case of any incidents/events.
g. Feedback information can be inculcated.
h. It is able to concentrate on decreasing other expenses and it has to spend the expenses
which are really required to the development of the company.
i. Proper management is to be there and also it should supervise the activities of the
company very well.
j. It needs to be aware of its competitors to overcome from the competition and to get more
market share.
Chapter-7
CONCLUSION
61
HDFC STANDARD LIFE
HDFC STANDARD LIFE has been one of the best life insurance service providers in India. It
has the excellent quality service provider to their customer. The overall performance of
HDFC STANDARD LIFE is very good compared to other service providers. It got fifth
position in the insurance industry. They share a very good rapport with the customers. The
financial condition is not good from year to year. It is in loss condition from past five years.
Its debt- equity ratio is good. Because of that the company is in a good condition to get
survival in the market.
It is selling more policies from year to year that means the sales percentage is increasing from
many years it is the signal to the growth of the company. Presently it is incurring more
expenses and market share is very less compare to other competitors like LIC, ICICI
Prudential etc….
In the class just we can assume how the corporate world is but it is completely
different when I started to go to the company. In the class just we will read, learn and
same thing we will write in the exam and we will get pass but when we go for
searching job really we will feel the heat of outside world, regarding pressure for
target achievement, competition for jobs etc…
That was a wonderful experience to me in that company. I learnt so many things there,
what is the real corporate culture, How much we have to be smart, How much talented
we should, How we should achieve our target, what is our responsibity.
62
HDFC STANDARD LIFE
Actually I got the work of recruitment consultant; there I need to call to the people
who want to work as financial consultant for part or full time as per their requirement,
I had to take interview to them and need to motivate them to take up that job, for that
they need to write the exam and get through with the exam. And then they need to get
the license from IRDA to do that work.
BIBLIOGRAPHY:
63
HDFC STANDARD LIFE
WEBSITES:
 WWW.HDFCINSURANCE.COM
 WWW.GOOGLE.COM
 WWW.YAHOOSEARCH.COM
OTHER REFERENCES:
 NEWS PAPERS:
o TIMES OF INDIA
o ECONOMIC TIMES
 MAGAZINES:
64

HDFC 66

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

HDFC 66

Uploaded by

Copyright:

Available Formats

HDFC STANDARD LIFE

WHAT IS LIFE INSURANCE : Life insurance is a contract between a person and an

DEFINITION: Insurance is a plan by which large numbers of people associates themselves

FUNDAMENTAL DEFINITION: Insurance may be defined as a social device providing

Insurance sector reforms

 United India Assurance Company Ltd.

2.1Background and inception of the company

Standard Life Group (Standard Life plc and its subsidiaries)

Nature of the business carried

2.2Vision, Mission and quality policy

Intelent Global: BOP services for international customers.

CIBIL: Credit information services bureau.

HDFC Chubb: Upcoming Private companies in the field of General Insurance.

HDFC Mutual Fund

2.3 PRESENT STATUS OF THE ORGANIZATION

2.4 ORGANIZATIONAL STRUCTURE

Branch Manager Operation Manager

Asst. B.M. Channel Executive

Business Dev. Mgr.

Sales Dev. Mgr.

2.5Highlights of Financial Year 2007-08

4. Savings & Investment Plans

 HDFC Gramin Bima Kalyan Yojana

 HDFC Development Insurance Plan

The Management Team

 HDFC Mutual Fund

 HDFC ERGO General Insurance

Received CIO 'the Ingenious 100 2009' Award

Received Diamond EDGE Award 2009

Received 2008 CIO Bold 100 and CIO Security Awards

Received PCQuest Best IT Implementation Award 2008

Silver Abby at Goafest 2008

Unit Linked Savings Plan Tops Mint Best TV Ads Survey

Deepak M Satwalekar Awarded QIMPRO Gold Standard Award 2007

Sar Utha Ke Jiyo among India’s 60 Glorious Advertising Moments

2.8Future growth and prospects

HDFC Standard Life growing steadily

MAX NEW YORK: 3%

The name stands for five Japanese words

S2 SEITON SYSTEMATIC ARRANGEMENT

S3 SEISO SPIC N SPAN/SANITIZE

S5 SHITSUKE SELF DISCIPLINE/SUSTENANCE

• Can be started immediately.

• Reduces wastages and fatigue.

• Improves the efficiency of workplace and wastages are made visible.

• Improves self – organization and overall self –appearance of company.

• Brings in the feelings of ownership of workplace.

Red Tag Square (R.T.S)

“Place for everything and everything in place”.

“Cleaning with meaning” and “cleaning is inspection”

 Abnormality identification register

 Store master index

MCKINSEY 7-S MODEL

The 7-s model with reference to Hdfc standard life:

It is a more reputed insurance company, as it is providing financial solution of where to

The skills are broadly categorized as follows:-

Market knowledge, analytical skills, Services, Research, Personal/administration, Soft skills,

We think it is important to distinguish between the basic personality of a top management

By “strategy” we mean those actions that a company plans in response to or anticipation of

Recruitment, training and development system

Design of the study

3.1TITLE OF THE STUDY: