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BAJAJ ALLIANZ HEALTH INSURANCE
• • • • • KALPESH SOLANKI. DEEPAK NIKAM. PRAVIN MOTE. KIRAN KAMBLE. RAVI MAGARE.
VISION • To be the leading provider of insurance services in India.
• We will leverage our people, technology, speed and financial capital to: • be the insurer of first choice for our customers by delivering high quality, world-class products and services. • Expand the frontiers of our business globally. • Play a proactive role in the full realisation of India’s potential. • Maintain a healthy financial profile and diversify our earnings across businesses and geographies. • Maintain high standards of governance and ethics. • Contribute positively to the various countries and markets in which we operate. • Create value for our stakeholders
HEALTH INSURANCE MARKET
• India spends around 5 per cent of its GDP on healthcare. The health insurance cover is still limited to only 15 per cent of the total population of India. • Indian Health insurance market is expected to grow at a CAGR of 43 per cent between 2011 and 2015. The market penetration will be three fold higher in 2015 as it is one of the fastest growing segments in non-life insurance.
de-tariffing of the general insurance industry and rationalisation of premium rates. supporting demographic profiles. limited reach. significant underwriting losses for health insurance business in India. lack of standardisation and accreditation norms in the healthcare industry and insufficient data on Indian consumers and disease patterns. . • The key market restraints are inadequate healthcare infrastructure. rising healthcare costs.HEALTH INSURANCE MARKET • The key growth drivers are increasing awareness of health insurance.
. rationalisation of premium in group insurance policies.HEALTH INSURANCE MARKET • The future trends in this sector are a shift in focus from group insurance to retail insurance portfolio. like co-pay and deductibles will increase and government companies are likely to increase their healthcare offerings. sub-limits.
HEALTH INSURANCE PENETRATION .
CONTD…. • According to figures released by the Insurance Regulatory and Development Authority.812 crore. . compared with Rs 3.07 per cent with a total gross premium underwritten across all segments at Rs 3. ICICI Lombard had a market share of 9. • ICICI Lombard General Insurance Company had the highest market share in the gross premium underwritten by private non-life insurers in India between April-December 2011.123 crore in the year-ago period.
384 crore in the total gross premium underwritten.808 crore.82 per cent market share and a premium of Rs 5. • Bajaj Allianz came in second with a market share of 5.67 per cent and Rs 2.. . • United India followed with 13.287 crore of total gross premium underwritten.96 per cent with Rs 6. New India had the highest market share of 14.CONTD…. • Among the public players.
Continue to enjoy quality service even during claim settlements with .ICICI Lombard Health Care .000+ hospitals across India as compared to 2900 hospitals across India.VARIOUS PRODUCTS COMPARISON • FAMILY PROTECT PREMIER V/S FAMILY FLOATER HEALTH GUARD PLAN • KEY DIFFERENCES Cashless claims facility at over 4.our own in-house health claim processing and wellness team which is not the case when compared with Bajaj Allianz .
is eligible for a benefit amount of 10.000 if hospitalised for any bodily injury or illness as covered under the policy. for a period of 10 consecutive days. valid for the policy period which is not provided by Bajaj Allianz Called a Convalescence benefit. or more. No such benefit provided by bajaj allianz. . the insured.PRODUCTS COMPARISON Free health check-up coupon for any one insured family member. once during the policy period.
PRODUCTS COMPARISON • PERSONAL PROTECT V/S INDIVIDUAL HEALTH GUARD • Optional coverage against Accidental Hospitalisation Expenses and Accidental Hospital Daily Allowance whereas in Bajaj Allianz offers very vaguely in that only pre and post hospitalization expenses will be covered .
Rs 10 Lakhs. • However. Rs 15 Lakhs. Rs 5 Lakhs.PRODUCTS COMPARISON • Customised coverage that allows you to choose between Rs 3 Lakhs. Rs 20 Lakhs and Rs 25 Lakhs Sum Insured whereas no such benefit is available in BA. . there is income tax benefit available under Bajaj which is not mentioned about in IL.
. This is not the case with IL.PRODUCTS COMPARISON • One major point of advantage is that Bajaj Allianz offers a special plan for women covering all gynaecological diseases including malignancies. but in its place it offers a CRITICAL CARE plan for all emergency/critical illnesses.
VALUE CHAIN ANALYSIS OF ICICI LOMBARD FIRM INFRASTRUCTURE HUMAN RESOURSES MANAGEMENT TECHNOLOGY DEVELOPMENT SOURCES OF REVENUE/ DEPOSITS OPERATI ONS LOGISTIC S MARKET ING AND SALES AFTER SALES SEVICES MARGIN .
Whereas other source is the merged company itself.SUPPORTIVE ACTIVITIES • Sources of revenue/ deposits: Source of revenue is ICICI bank and other bank like RBI. . with stake holders and policy holders.
Provides the information about the services by means of mobile service i.e. through online services or through television. it is user friendly and can be accessible to every one. through SMS services.SUPPORTIVE ACTIVITIES CONTD… • Technology development: Developed and frequently updated the existing online services . Technology made is such that. .
developing. .. online services. motivating and rewarding the workforce of a business. tying-up of clients and etc. • Human resource management: Those activities concerned with recruiting.SUPPORTIVE ACTIVITIES CONTD. These will include providing training to employees about marketing.
• Firm infrastructure: We have very well developed online services. Sufficient and efficient number of employees provided by HRM. which helps us to work more smoothly and efficiently by all means.SUPPORTIVE ACTIVITIES CONTD. . marketing strategies. and our branches spread all over the India.. Revenue generation skills by our consultants.
which are required to enhance our business. While financing is done by various banks and stake holders. and well developed online services.PRIMARY ACTIVITIES • Logistics: Our infrastructure are wide spread branches. .
with maximum benefits. . Providing better health insurance policies.PRIMARY ACTIVITIES • Operations: Comprise the transformation of the inputs into the final product form. to the respective eligible policy holder.
online marketing. advertising. face to face customer meeting etc. distribution) Marketing and sales team of ICICI is trained enough for telemarketing.PRIMARY ACTIVITIES • Marketing and sales How buyers can be convinced to purchase the product (e.g. . promotion.
PRIMARY ACTIVITIES • After sales services: Providing better services after sale of policy product. . Developed call center services.
Market leadership Diversified product portfolio OPPORTUNITIES Target youth. WEAKNESS Charge a high premium amount as compared to other players in the market. THREATS Major competition from government players. Provide NRI service. Excessive use of telesales.SWOT ANALYSIS STRENGTH Pioneer in introducing innovative concepts in the Indian health Insurance sector. Poor customer service. . Use multi-channel approach.
Has been one of the most profitable private health insurance company in last few years. OPPORTUNITIES Large untapped market Distinguishable product WEAKNESS They have to compete with GOVT players.SWOT ANALYSIS STRENGTH Strong brand image. . THREATS Presence of very strong competitors. 900 offices. 200 corporate agents etc. Aggressive marketing by competitors. Has got one of the largest distribution network to reach the customers across the country with more than 2 lakhs agents. They apparently have weak customer relation management.
KEY RATIOS OF ICICI LOMBARD .
BALANCE SHEET .
Profit and Loss .
Profit and Loss (Contd…) .
REVENUE ACCOUNTS .
KEY RATIOS .
INTERPRETATION OF FINANCIAL STATEMENT ICICI LOMBARD AND BAJAJ ALLIANZ .
.ICICI LOMBARD • The operational profit ratio upto the year end of March 31 2011 was 3% and it has been increases to 16% in six months. • Return on net worth upto the year march 2011 was 4% which was increase to 11% in next six months. • Liquid assets to liability ratio was constant upto the year ended 31 March 2011 till for the six month ended 31 March 2011.
next quarter ended it was 7%. .e -21% • Liquid assets to liabilities ratio for the year ended 31 March was 33% and within quarter ended it was become 36%.BAJAJ ALLIANZ • Operational profit ratio for the March 31 /2011 was 15% but in quarter period of time it was negative i. • Return on net worth ratio for the year ended 31 March 2011 was 5%.
587. .729 lakh in 2012.651 (in lakh) as at 31 March 2011.399 ( in lakh ) which has decreases to 190.054 which has increase 9.356.• The total sources of funds for ICICI Lombard as at 31 March 2011 was 194.899 lakh has been decreases to 3. other income) for the year 2011 was 3.254 in March 2012. income from investment. • The profit and loss for ICICI Lombard in the year (operating profit/ loss. • The total source of fund for Bajaj Allianz in the year 2011 was 8. • For Bajaj Allianz in the year 2011 was 18.386 and decreases to 13.326 lakh.
FUTURE CORPORATE STRATEGIES • LONG TERM STRATEGIES: To expand our costumer base and market to an international level through collaboration with region specific players. .
FUTURE CORPORATE STRATEGIES • SHORT TERM STRATEGIES: To ensure our presence among rural traders and market. . To enhance existing online services and user friendly software including language enabled customized services. To collaborate with various (CBHI) Community Based Health Insurances and other initiatives of (GOI) Government of India.
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