Professional Documents
Culture Documents
Project on
Insurance Sector
With reference to
Bajaj Allianz
Insurance
Insurance is a financial service for collecting the
savings of the public and providing them with risk
coverage
General Insurance
Life Insurance
Structure of Insurance Industry Snap Shot
Historical Perspective
Private players -
1. Bajaj Allianz Life Insurance Co. Ltd.
13. Shriram Life
14.Future Generali Life Insurance
2. Birla Sun Life Insurance Co. Ltd.
15. Reliance Life Insurance
3. HDFC Standard Life Insurance Co. Ltd. 16. Bharti Axa Enterprises
4. ICICI Prudential Life Insurance Co. Ltd. 17. IDBI Fortis
5. ING Vysya Life Insurance Co. Ltd. 18. Canara HSBC OBC
6. Max New York Life Insurance Co. Ltd.
7. MetLife India Insurance Co. Pvt. Ltd.
8. Kotak Mahindra Old Mutual Life Insurance
Co. Ltd.
9. SBI Life Insurance Co. Ltd
10.TATA AIG Life Insurance Co. Ltd.
11.Aviva Life Insurance Co. Pvt. Ltd.
12.Sahara India Life Insurance Co. Ltd.
9. .
Indian Insurance Sector
Company Indian Partner Foreign Partner Area
Birla Sun Life Aditya Birla Group Sun Life, Canada Life
Max New York Life Max India New York Life, USA Life
1 LIC Total
12 Aviva Total
CONTRIBUTION TO INDIAN
ECONOMY
savings
Spread of financial services in rural areas and amongst socially
less privileged
Long term funds for infrastructure
The strength of the company lies in its strong brand image and
ability to offer value for money products leveraging on its large-
scale operations.
Manufacturing Unit
oFire
oBusiness Interruption
oIndustrial All Risk
oWorkmen’s Compensation
oEngineering
oPublic Liability
oProduct Liability
oComposite Public & Product Liability
oFidelity Guarantee
oMarine Insurance
Credit Insurance
Promotion
• Television
• Radio
• Movies
• Print Media:
• Hoardings
• Newspaper
• Magazines
• Campus Visits
• Sponsorship
• Sales Promotion:
• Personal Selling:
• Cross-Sale (Selling At Competitors Place)
• Personalized Service
• Telemarketing
Price:
The price structure is based on the type of policies. The price
variation has to be kept due to intense competition among private
players. Pricing element is very important for Bajaj Allianz as
they want to increase market share. The price of Bajaj Allianz
policies are made as per keeping the customer in mind
The RBI and the IRDA are concerned with regulations. The rate of
interest is regulated by the RBI and other charges are controlled
by IRDA
PHYSICAL EVIDANCE
• Internet/Web Pages
• Paperwork
• Brochures
• Furnishings
• Business Cards
• Building
• Signage
• Financial Reports
• Tangibles
• Punch Lines
• Employee’s Dress Code
Process
•Flow of activities
•Standardization
•Customization
•Number of Steps
•Simplicity
•Complexity
•Customer involvements
Place
3rd Floor, 349 Business Point,
Western Express Highway Road
Andheri(E).
•To have clear performance expectations and a clear return from the company
(working environment, development, reward, career opportunities etc), which
helps employees to make a connection between their contribution and the
progress made by the company.
•To inspire and empower people to achieve their best and reward them
competitively for their contribution and provide attractive career opportunities.
•To build a learning culture which fosters personal development and professional
mobility and upholds values of professionalism,innovation, pragmatism, team
spirit, integrity.
•To respect and value individuals, their diversity and support them in their need
to balance professional and personal lives.
THANK
YOU