Bancassurance

A PROJECT REPORT ON
BANCASSURANCE
SUBMITTED TO
UNIVERSITY OF MUMBAI
IN THE PARTIAL FULLFILMENT OF B.B.I. DEGREE
SUBMITTED BY
YOGITA BANGERA
T.Y.BCOM (B&I) SEMESTER- V
ROLLNO- A-01
SEAT NO- 51
STUDYING AT
RI!VI EDUCATION SOCIETY"S
RI!VI COLLEGE OF ARTS# SCIENCE & COMMERCE
BANDRA ($)# MUMBAI-50
ACADEMIC YEAR
(%00&-%010)
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Bancassurance
DECLARATION
I, M+,, Y-)+.( B(/)*0(, a student of T.Y.B.com (Banking & Insurance) SEM-5 of Ri!i
"o##ege of $rts, Science and "ommerce %ere&' dec#are t%at I %a!e com(#eted t%is (ro)ect tit#ed
B(/1(,,20(/1*3 for t%e academic 'ear *++,-*+-+. It is an origina# and true .ork to t%e &est
of m' kno.#edge.

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S+)/(.20* -4 .5* S.26*/.
7Y-)+.( B(/)*0(8
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Bancassurance
CERTIFICATE
I, P0-4 P2,5((/9(:+ S(52 %ere&' !erif' t%at M+,, Y-)+.( B(/)*0( %a!e com(#eted t%is (ro)ect
tit#ed B(/1(,,20(/1*3 for t%e academic 'ear *++,-*+-+. It is an origina# and true .ork to t%e
&est of m' kno.#edge.
//////////////////// ///////////////////////
S+)/(.20* -4 .5* P0+/1+;(: S+)/(.20* -4 .5* BBI C---06+/(.*0
7D0.S.G.A.!(+6+8 7M0 F20<2(/ S5(+=58
////////////////////////// /////////////////////////////
S+)/(.20* -4 .5* P0-9*1. G2+6* S+)/(.20* -4 .5* E>.*0/(: E>(?+/*0
7M0, P2,5((/9(:+ S(528
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Bancassurance
Acknowledgement
First and foremost, I would like to thank
Almighty god for energy, strength, guidance and
help that has always been with me throughout
My work
0%i#e (resenting t%is (ro)ect at t%is (ro)ect at t%is )uncture, I fee# dee(#' o&#iged to our
Mum&ai 1ni!ersit' for (ro!iding me .it% an o((ortunit' to do t%is (ro)ect. I a#so e2tend
m' sincere t%anks to our P0+/1+;(: D0.S.G.A.!(+6+ and .5* A+1* P0+/1+;(: B**/( ;(/. for
t%eir mora# su((ort and encouragement
I am %ig%#' gratefu# and e2(ress m' sincere gratitude to m' P0-4 P2,5((/9(:+ S(52, .%o
guided me so .e## &efore t%e &eginning of t%e (ro)ect. To sum u( I .ou#d #ike to t%ank m'
P0-4 F20<2(/ S5(+=5 (BBI C---06+/(.*0)# .%o %a!e %e#(ed me in some or ot%er .a' in
successfu##' com(#eting t%is (ro)ect. It %as &een a .arming e2(erience for me, .%ic% .i##
sure#' %e#( me in t%e future.
3ast &ut not #east I .ou#d #ike to t%ank m' friends and fami#' mem&ers for t%eir
continuous, (atience, encouragement, su((ort and &#essings t%at ena&#ed me to make t%is
(ro)ect a success.
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Bancassurance
EXECUTIVE SUMMARY
T5*?* -4 .5* ;0-9*1.C
T%is (ro)ect s(eaks a&out t%e &ancassurance of 4dfc &ank and standard #ife and its )oint
!enture. T%e (ro)ect tries to %ig%#ig%t a&out t%e a.areness among t%e customers regarding t%e
!arious sources of (roduct and ser!ice offered &' 4dfc &ank.
S-201*, -4 D(/1(,,20(/1* -4 H641 B(/=C
456" Bank uses !arious too#s for &ancassurance and it is discussed in t%e (ro)ect in &rief.
S20A*EC
6or kno.ing t%e satisfaction among t%e customers7non-customers a&out t%e (roduct sc%emes
and ser!ices (ro!ided &' t%e 4dfc standard #ife, a sur!e' .as carried out in Mum&ai .T%e
sam(#ing sie of -++ for t%e sur!e' .as considered. It in!o#!es t%e use of t%e 8uestionnaire.
T%e o!era## ana#'sis is regarding t%e (roduct and ser!ice is ado(ted &' 4dfc Bank.
C-/1:2,+-/C
T%e conc#usion s(eaks a&out t%e (o(u#arit' and a.areness regarding t%e 456" standard #ife. It
is a#so indicates t%e resu#t of t%e sur!e'.
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Bancassurance
S0. N- T(D:* -4 C-/.*/. P).N-
1.
DESIGN OF STUDY
T+.:* F-0 T5* S.26E
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INTRODUCTION
C-/1*;.
M*(/+/) A/6 D*4+/+.+-/
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@.
BANCASSURANCE
B(/1(,,20(/1* M-6*:
L*)(: R*<2+0*?*/., T- E/.*0 I/.- B(/1(,,20(/1*
R*(,-/, F-0 B(/=, T- E/.*0 I/.- B(/1(,,20(/1*
B*/*4+., A/6 V(:2* P0-;-,+.+-/ I/ B(/1(,,20(/1*
1B-%0
B.
COMPANY PROFILE
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I/1-0;-0(.+-/ O4 H641 S.(/6(06 L+4* I/,20(/1*
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5.
PRODUCT & SERVICE
P0-621. P-0.4-:+-
P0-621. P0-4+:*
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H.
RESEARCH METHODOLOGY
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.
DATA ANALYSIS & INTERPRETATION
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F.
FINDINGS
50
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Bancassurance
&.
RECOMMENDATION
51
10.
CONCLUSIONS
5%
11.
BILIBOGRAPY
5@
ANNUREIC-S20A*E J2*,.+-//(+0*
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Bancassurance
1.DESIGN OF STUDY
TITLE FOR THE STUDY
K"BANCASSURANCE""
OBJECTIVES
To understand conce(t &ancassurance
T%e stud' ana#'ses t%e a.areness of t%e customer and t%e !ie.(oints of t%e
customer a&out insurance as .e## as &ancassurance.
456" &ank to kno. %o. far t%eir initiati!es in (romoting 456" standard #ife
Insurance (roducts %a!e reac%ed its customers.
$na#'e t%e initiati!es taken &' t%e 456" &ank in endorsing t%e 456" Standard
3ife Insurance (roducts
456" &ank is a#so %a!ing a tie u( .it% its su&sidiar' com(an' 456" Standard 3ife
Insurance for se##ing 3ife insurance (roducts to its retai# customers.
SCOPE OF THE STUDY

Toda'9s &anking &usiness is not t%e one .e %a!e seen in t%e (ast. It %as &ecome muc%
more di!ersified. $s &ancassurance (ro!ides t%e &est (ossi&#e so#ution to a## t%ese, most
of t%e &anks no.ada's %a!e started se##ing insurance (roducts to its customers
456" &ank in &ancassurance .it% s(ecific reference to #ife insurance and to suggest
t%e .a's and means to im(ro!e t%e e2isting (erformance &' .a' of co##ecting
res(onses from t%e customers.
To ana#'e t%e (erformance of 456" &ank in &ancassurance and its contri&ution to t%e
o!era## (rogress of t%e &ank
It a#so indicates t%e (ersons .%o are .i##ing to take #ife insurance (o#ic' in t%e
immediate future and t%e reasons for taking t%e same.
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Bancassurance
METHODOLOGY
T%ere are t.o t'(es of data used.
:rimar' data
Secondar' data
T%e data is defined as data t%at is co##ected from origina# sources for a s(ecific (ur(ose.
T%ese inc#ude t%e sur!e' or ;uestionnaire met%od, te#e(%onic inter!ie. as .e## as t%e
(ersona# inter!ie. met%ods of data co##ection, &ooks, t%e internet, com(an' &roc%ures,
(roduct &roc%ures, t%e com(an' .e&site, com(etitor9s .e&sites etc, ne.s(a(er artic#es
etc.
LIMITATIONS
Time %as (#a'ed a &iggest constraint t%at t%e researc% cou#d not &e carried
out com(re%ensi!e#' as t%e duration of t%e stud'
$s t%e researc% contains t%e Secondar' data for making a financia# ana#'sis t%e
accurac' and re#ia&i#it' of t%e ana#'sis de(ends on re#ia&i#it' of figures deri!ed
from financia# statements.
T%e sam(#e sie for co##ecting t%e (rimar' data .as meager as it inc#udes on#'
-++ res(ondents, %ence t%e conc#usion .ou#d not &e a uni!ersa# one.
:ersona# &iases and (re)udices of t%e customers ma' a#so affect t%e stud'.
Ins(ite of t%e #imitations, t%e stud' .as effecti!e in ana#'ing t%e (erformance of 456"
&ank in &ancassurance .it% s(ecific reference to #ife insurance.
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Bancassurance
2.INTRODUCTION
T%e &usiness of &anking around t%e g#o&e is c%anging due to integration of g#o&a# financia#
markets, de!e#o(ment of ne. tec%no#ogies, uni!ersa#iation of &anking o(erations and
di!ersification in non-&anking acti!ities. 5ue to a## t%ese mo!ements, t%e &oundaries t%at %a!e
ke(t !arious financia# ser!ices se(arate from eac% ot%er %a!e !anis%ed. T%e coming toget%er of
different financia# ser!ices %as (ro!ided s'nergies in o(erations and de!e#o(ment of ne.
conce(ts.
Bancassurance sim(#' means se##ing of insurance (roducts &' &anks. In t%is arrangement,
insurance com(anies and &anks undergo a tie-u(, t%ere&' a##o.ing &anks to se## t%e insurance
(roducts to its customers. T%is is a s'stem in .%ic% a &ank %as a cor(orate agenc' .it% one
insurance com(an' to se## its (roducts. B' se##ing insurance (o#icies &ank earns a re!enue
stream a(art from interest. It is ca##ed as fee-&ased income. T%is income is (ure#' risk free for
t%e &ank since t%e &ank sim(#' (#a's t%e ro#e of an intermediar' for sourcing &usiness to t%e
insurance com(an'.
B(/1(,,20(/1* V*/.20*, M2,. H(A* C:*(0 OD9*1.+A*,

B(/=, I/,20*0,
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Bancassurance
CONCEPT
B(/1(,,20(/1* is defined as <S*::+/) I/,20(/1* ;0-621., .50-2)5 D(/=,". T%e .ord is a
com&ination of t.o .ords <Banc9 and <assurance9 signif'ing t%at &ot% &anking and insurance
(roducts and ser!ice are (ro!ided &' one common cor(orate entit' or &' &anking com(an'
.it% co##a&oration .it% an' (articu#ar Insurance com(an'. In concrete terms &ancassurance,
.%ic% is a#so kno.n as $##finan - descri&es a (ackage of financia# ser!ices t%at can fu#fi##
&ot% &anking and insurance needs at t%e same time. T%e usage of t%e .ord (icked u( as
&anking and insurance com(anies merged toget%er and &anks soug%t to (ro!ide insurance, in
t%e market .%ic% %as &een #i&era#ied recent#'. But it is a contro!ersia# issue as man' e2(erts
fee#s t%at t%is ides gi!es &anking sector too great a contro# o!er financia# market in t%at
countr'.
.
Bancassurance in t%eir market %as seen a tremendous &oom in t%at sector. T%e #inks &et.een
&ank and insurance takes (#ace t%roug% !arious .a's (distri&ution agreements, )oint !entures,
creation of a com(an' ne. com(an') .%ic% gi!es rise to a com(#ete u(%ea!a# concerning
marketing strategies and t%e setting u( of insurance (roducts= distri&ution. More and &etter
insurance starts coming in market. T%is stream of market %as )ust &een o(ened !er' recent#' for
t%e Indian market and t%ere is #ot of de!e#o(ment #eft to &e done &' t%e go!ernment and
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Bancassurance
regu#ator' aut%orit'. But t%is %as (ro!en to &e a &oom for t%e Insurance and Banking
com(anies toget%er and &ot% t%e different sector of t%e industr' %as s%o.n &etter resu#t and
im(ro!ement in t%eir o.n fie#d due coming of t%e .%o#e ne. conce(t of &ancassurance.
Bancassurance in its sim(#est form is t%e distri&ution of insurance (roducts t%roug% a &ank9s
distri&ution c%anne#s. It is t%e (ro!ision of insurance and &anking (roducts and ser!ice t%roug%
a common distri&ution c%anne# or t%roug% a common &ase. 4o.e!er, t%e e!o#ution of
&ancassurance as a conce(t and its (ractica# im(#ementation in !arious (arts of t%e .or#d, %a!e
t%ro.n u( a num&er of o((ortunities and c%a##enges. T%e moti!es &e%ind &ancassurance a#so
!ar'. 6or Banks, it is n means of (roduct di!ersification and source of additiona# fee income.
Insurance com(anies see &ancassurance as a too# for increasing t%eir market (enetration and
(remium turno!er. T%e customer sees &ancassurance as a &onana in terms of reduced (rice,
%ig% ;ua#it' (roducts and de#i!er' at t%e doorste(s. 0it% t%e #i&era#iation of t%e insurance
sector and com(etition toug%er t%an e!er &efore, com(anies are increasing#' tr'ing to come out
.it% &etter inno!ations to sta' t%at one-ste( a%ead.
>e. (#a'ers ma' find it e2(ensi!e and time consuming to &ring u( a distri&ution net.ork to
suc% standards. Yet, if t%e' .ant to make t%e most of India=s #arge (o(u#ation &ase and reac%
out to a .ort%.%i#e num&er of customers, making use of ot%er distri&ution a!enues &ecomes a
must. $#ternate c%anne#s .i## %e#( to &ring do.n t%e costs of distri&ution and t%us &enefit t%e
customers
MEANING
B(/1(,,20(/1* is a com&ination of t.o .ords Banc and K(,,20(/1*" signif'ing t%at &ot%
&anking and insurance (roducts and ser!ice are (ro!ided &' one common cor(orate entit' or
&' &anking com(an' .it% co##a&oration .it% an' (articu#ar Insurance com(an'. In concrete
terms &ancassurance, .%ic% is a#so kno.n as A::4+/(/L - descri&es a (ackage of financia#
ser!ices t%at can fu#fi## &ot% &anking and insurance needs at t%e same time.
It is t%e (ro!ision of insurance (assurance) (roducts &' a &ank. T%e usage of t%e .ord (icked
u( as &anks and insurance com(anies merged and &anks soug%t to (ro!ide insurance,
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Bancassurance
es(ecia##' in markets t%at %a!e &een #i&era#ied recent#'. In its sim(#est form, Bancassurance is
t%e distri&ution of insurance (roducts t%roug% t%e Bank9s distri&ution net.ork. It is a
(%enomenon .%erein insurance (roducts are offered t%roug% t%e distri&ution c%anne#s of t%e
&anking ser!ices a#ong .it% a com(#ete range of &anking and in!estment (roducts and
ser!ices.
DEFINITION
T5* .*0? 4+0,. (;;*(0*6 +/ F0(/1* +/ 1&F0# .- 6*4+/* .5* ,(:* -4 +/,20(/1* ;0-621., .50-2)5
D(/=," 6+,.0+D2.+-/ 15(//*:, (SCOR %00@).
T5* L+4* I/,20(/1* M(0=*.+/) (/6 R*,*(015 A,,-1+(.+-/", (LIMRA",) +/,20(/1* 6+1.+-/(0E
6*4+/*, D(/1(,,20(/1* (, .5* ;0-A+,+-/ -4 L+4* +/,20(/1* ,*0A+1*, DE D(/=, (/6 D2+:6+/)
,-1+*.+*,3.

$ccording to IR5$, <&ancassurance9 refers to &anks acting as cor(orate agents for insurers to
distri&ute insurance (roducts.? 3iterature on &ancassurance does not differentiate if t%e
&ancassurance refers to se##ing of #ife insurance (roducts or non-#ife insurance (roducts.
$ccording#', <&ancassurance9 is defined to mean &anks dea#ing in insurance (roducts of &ot%
#ife and non-#ife t'(e in an' forms.But in t%is researc% t%e focus is entire#' concentrated
to.ards #ife insurance. It is a#so im(ortant to c#arif' t%at t%e term &ancassurance does not )ust
refer s(ecifica##' to distri&ution a#one. @t%er features, suc% as #ega#, fisca#, cu#tura# and7or
&e%a!ioura# as(ects a#so form an integra# (art of t%e conce(t of &ancassurance current#' t%ere
is more and more e2c%ange of .edding rings &et.een &anks and Insurance "om(an' for &etter
&usiness (ros(ect in future. 0it% t%e enormous &enefits for &anks #ike increase in re!enue,
return on asset, customer retention, &etter re(utation etc., t%e &ancassurance is going to &e a &ig
re!o#ution in t%e &anking industr'.
6rom t%e !ie. (oint of insurance industr' a#so t%e im(ortance of &ancassurance .as fe#t
necessar'. 0it% t%e increased (ressures in com&ating com(etition, com(anies are forced to
come u( .it% inno!ati!e tec%ni;ues to market t%eir (roducts and ser!ices. Bancassurance is
(oised to &ecome a ke' determinator 7 differentiating factor in t%e Insurance industr' as .e##.
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Bancassurance
3.BANCASSURANCE
Bancassurance is t%e distri&ution of insurance (roducts t%roug% a &ank=s distri&ution c%anne#s.
It is a ser!ice t%at can fu#fi## &ot% &anking and insurance needs at t%e same time. Bancassurance
as a conce(t first &egan in India .%en t%e insurance industr' o(ened u( to (ri!ate (artici(ation
in 5ecem&er -,,,.
T5*0* (0* D(,+1(::E @ ?-6*:, -4 B(/1(,,20(/1*C
5istri&ution a##iance &et.een t%e insurance com(an' and t%e &ank.
Aoint !enture &et.een t%e t.o com(anies.
6u## integration of &anks and insurance ser!ices
H641 D(/= B(/1(,,20(/1* -;*0(.+-/, 4(:: +/ .5* ,*1-/6 ?-6*:
M@5E3 5ES"RI:TI@> $5B$>T$CES 5IS$5B$>T$CES
5istri&ution
$greement
B(/= (1., (, (/
+/.*0?*6+(0E 4-0 (/
+/,20(/1* 1-?;(/E
O;*0(.+-/ ,.(0. <2+1=:E
/- 1(;+.(: +/A*,.?*/.
(:*,, 1-,.:E)
L(1= -4 4:*>+D+:+.E .-
:(2/15 /*G ;0-621.#
-4 ;-,,+D+:+.E +/
1-0;-0(.* 12:.20*
Aoint Benture B(/= +/ ;(0./*0,5+;
G+.5 -/* -0 ?-0*
+/,20(/1* 1-?;(/+*,
T0(/,4*0 -4 *>;*0.+,* D+44+12:. .-# ?(/()* +/
.5* :-/) .*0?
6u##
Integration
C0*(.+-/ -4 ( /*G
,2D,+6+(0E
S(?* 1-0;-0(.*
12:.20*
S2D,.(/.+(: +/A*,.?*/.
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Bancassurance
H-G 6-*, +. 5*:;M
E!er' insurance com(an' %as a .ants to gro. ;uick#' to reduce (ainfu# start-u(
e2(ense o!erruns. Banks .it% t%eir %uge net.orks and #arge customer &ases gi!e
insurers an o((ortunit' to do t%is efficient#'.
It gi!es t%e com(anies an o((ortunit' to ta( t%e rura# sectors. Se##ing insurance
t%roug% traditiona# met%ods in t%ese sectors fa##s !er' e2(ensi!e. $ tie u( .it% a
&ank .it% an a((ro(riate customer &ase can gi!e an insurer a c%ea( access to t%ese
areas.
Bancassurance ena&#es to %a!e a %uge (oo# of ski##ed (rofessiona#s.
Bancassurance ena&#es to de!e#o( a sa#es cu#ture .it%in t%e &ank. It %e#(s to c%ange
t%e traditiona# mindset of &anking com(anies.
>e. conce(t, &ancassurance %as &een a (%enomena# success in most of t%e cases. "urrent#'
&anks are financia# institutions. T%e distri&ution of insurance (roducts t%roug% &anks %as &een
&eneficia# to &ot% insurance and &anking com(anies as .e## as t%e customers.
LEGAL REUIREMENTS TO ENTER INTO
!ANCASSURANCE
T%e ;0(1.+1* -4 D(/1(,,20(/1* of R*,*0A* B(/= -4 I/6+( &eing t%e 0*)2:(.-0E (2.5-0+.E -4
.5* D(/=+/) ,E,.*?, .it% t%e reorganiation of t%e need for &anks to di!ersif' t%eir acti!ities
at t%e rig%t time, (ermitted t%em to enter into insurance sector as .e##. It %as issued a set of
detai#ed guide#ines setting out !arious .a's for a &ank in India to enter into insurance sector.
IR5$ %as a#so fe#t t%e necessit' of introducing an additiona# c%anne# of distri&ution, .%ic% is
t%e Bancassurance to reac% out more (eo(#e. It started (icking u( after Insurance Regu#ator'
and 5e!e#o(ment $ut%orit' (IR5$) (assed a notification in @cto&er *++* on ="or(orate
$genc'= regu#ations.
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Bancassurance
In India, t%e &anking and insurance sectors are regu#ated &' t.o different entities (&anking &'
RBI and insurance &' IR5$) and &ancassurance &eing t%e com&inations of t.o sectors comes
under t%e (ur!ie. of &ot% t%e regu#ators. Eac% of t%e regu#ators %as gi!en out detai#ed
guide#ines for &anks getting into insurance sector. 4ig%#ig%ts of t%e guide#ines are re(roduced
&e#o.D
RBI )2+6*:+/* 4-0 D(/=, */.*0+/) +/.- +/,20(/1* ,*1.-0 ;0-A+6*, .50** -;.+-/, 4-0 D(/=,.
T5*E (0*C
Aoint !entures .i## &e a##o.ed for financia##' strong &anks .is%ing to undertake
insurance &usiness .it% risk (artici(ationE
6or &anks .%ic% are not e#igi&#e for t%is )oint-!enture o(tion, an in!estment o(tion of
u( to -+F of t%e net .ort% of t%e &ank or Rs.5+ crores, .%ic%e!er is #o.er, is a!ai#a&#eE
6ina##', an' commercia# &ank .i## &e a##o.ed to undertake insurance &usiness as agent
of insurance com(anies. T%is .i## &e on a fee &asis .it% no-risk (artici(ation.
T5* I/,20(/1* R*)2:(.-0E (/6 D*A*:-;?*/. A2.5-0+.E (IRDA) )2+6*:+/*, 4-0 .5*
D(/1(,,20(/1* (0*C
Eac% &ank t%at se##s insurance must %a!e a c%ief insurance e2ecuti!e to %and#e a## t%e
insurance acti!ities.
$## t%e (eo(#e in!o#!ed in se##ing s%ou#d under-go mandator' training at an institute
accredited &' IR5$ and (ass t%e e2amination conducted &' t%e aut%orit'.
"ommercia# &anks, inc#uding coo(erati!e &anks and regiona# rura# &anks, ma' &ecome
cor(orate agents for one insurance com(an'.
Banks cannot &ecome insurance &rokers.
"urrent#' t%ere %as &een an increase in t%e num&er of tie-u(s .it% &anks and insurance
com(anies.

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Bancassurance
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Bancassurance
REASONS FOR !AN"S TO ENTER INTO
!ANCASSURANCE
Intense com(etition &et.een &anks, against a &ackground of s%rinking interest
margins, %as #ed to an increase in t%e administrati!e and marketing costs and #imited
t%e (rofit margins of t%e traditiona# &anking (roducts. >e. (roducts cou#d
su&stantia##' en%ance t%e (rofita&i#it' and increase (roducti!it'.
6inancia# &enefits to a &ank (erformance can f#o. in a num&er of .a's, as &rief#'
out#ined &e#o.D
Increased income generated, in t%e form of commissions and7or (rofits from t%e
&usiness (de(ending u(on t%e re#ations%i()
Reduction of t%e effect of t%e &ank fi2ed costs, as t%e' are no. a#so s(read o!er t%e
#ife insurance re#ations%i(.
@((ortunit' to increase t%e (roducti!it' of staff, as t%e' no. %a!e t%e c%ance to
offer a .ider range of ser!ices to c#ients
"ustomer (references regarding in!estments are c%anging. 6or medium-term and
#ong-term in!estments t%ere is a trend a.a' from de(osits and to.ard insurance
(roducts and mutua# funds .%ere t%e return is usua##' %ig%er t%an t%e return on
traditiona# de(osit accounts. T%is s%ift in in!estment (references %as #ed to a
reduction in t%e s%are of (ersona# sa!ings %e#d as de(osits, traditiona##' t%e core
e#ement of (rofita&i#it' for a &ank .%ic% manages c#ient9s mone'. Banks %a!e
soug%t to offset some of t%e #osses &' entering #ife insurance &usiness. 3ife
insurance is a#so fre;uent#' su((orted &' fa!ora&#e ta2 treatment to encourage
(ri!ate (ro!ision for (rotection or retirement (#anning. T%is (referentia# treatment
makes insurance (roducts more attracti!e to customers and &anks see an
o((ortunit' for (rofita&#e sa#es of suc% (roducts
$na#'sis of a!ai#a&#e information on t%e customer financia# and socia# situation can
&e of great %e#( in disco!ering customer needs and (romoting or manufacturing
ne. (roducts or ser!ices. Banks &e#ie!e t%at t%e ;ua#it' of t%eir c#ient information
1F ' P ( ) *

Bancassurance
gi!es t%em an ad!antage in distri&uting (roducts (rofita&#', com(ared .it% ot%er
distri&utors (e.g. insurance com(anies).
T%e rea#iation t%at )oint &ank and insurance (roducts can &e &etter for t%e customer as
t%e' (ro!ide more com(#ete so#utions t%an traditiona# standa#one &anking or insurance
(roducts.
Banks are e2(eriencing t%e increased mo&i#it' of t%eir customers, .%o to a great e2tent
tend to %a!e accounts .it% more t%an one &ank. T%erefore t%ere is a strong need for
customer #o'a#t' to an organiation to &e en%anced.
"#ient re#ations%i( management %as &ecome a ke' strateg'. To &ui#d and maintain c#ient
re#ations%i(s, &anks and insurers are forming (artners%i(s to (ro!ide t%eir c#ients .it% a
.ide range of &ank and insurance (roducts from one source.
It is &e#ie!ed t%at as t%e num&er of (roducts t%at a customer (urc%ases from an
organiation increases t%e c%ance of #osing t%at s(ecific customer to a com(etitor
decreases
!ENEFITS AND VALUE PROPOSITION IN
!ANCASSURANCE
E!er'&od' is a .inner in &ancassurance. 6or &anks it main#' acts as a means of (roduct
di!ersification and additiona# fee incomeE for insurance com(an' it acts as a too# for increasing
t%eir market (enetration and (remium turno!er and for customer it acts as a &onana in terms
of reduced (rice, %ig% ;ua#it' (roducts and de#i!er' to doorste(s. 4ence it is a .in-.in
so#ution for e!er'one .%o in!o#!ed.
B*/*4+., T- .5* D(/=*0,
:roducti!it' of t%e em(#o'ees increases.
Increase in return on assets &' &ui#ding fee income t%roug% t%e sa#e of insurance
(roducts.
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Bancassurance
"an #e!erage on face-to-face contacts and a.areness a&out t%e financia# conditions of
customers to se## insurance (roducts.
Banks can cross se## insurance (roducts EgD Term insurance (roducts .it% #oans.
B' acting as a one sto( s%o( for a## financia# ser!ices, t%e' can im(ro!e o!era##
customer satisfaction resu#ting in %ig%er customer retention #e!e#s
Banks en)o' significant &rand a.areness .it%in t%eir geogra(%ica# region (ro!iding for
a #o.er (er #ead cost .%en ad!ertising t%roug% (rint, radio and te#e!ision. T%e
ad!antage of a &ank o!er traditiona# distri&utors is t%e #o.er cost (er sa#es #ead made
(ossi&#e &' t%eir siea&#e #o'a# customer &ase.
"an esta&#is% sa#es oriented cu#ture among t%e em(#o'ees
B*/*4+., .- .5* 12,.-?*0,C
"om(re%ensi!e financia# ad!isor' ser!ices under one roof i.e. insurance ser!ices a#ong
.it% ot%er financia# ser!ices suc% as &anking, mutua# funds, (ersona# #oans etc
En%anced con!enience on t%e (art of t%e insured
Eas' access for c#aims, as &anks is a regu#ar go.
Inno!ati!e and &etter (roduct ranges
B*/*4+., .- .5* +/,20*0,C
Insurers can e2(#oit t%e &anks= .ide net.ork of &ranc%es for distri&ution of (roducts.
T%e (enetration of &anks= &ranc%es into t%e rura# areas can &e uti#ied to se## (roducts in
t%ose areas.
"ustomer data&ase #ike customers= financia# standing, s(ending %a&its, in!estment and
(urc%ase ca(a&i#it' can &e used to customie (roducts and se## according#'.
Since &anks %a!e a#read' esta&#is%ed re#ations%i( .it% customers, con!ersion ratio of
#eads to sa#es is #ike#' to &e %ig%. 6urt%er ser!ice as(ect can a#so &e tack#ed easi#'.
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Bancassurance
V(:2* P0-;-,+.+-/,
T%e ser!ices offered &' t%e &anks as .e## as t%e insurance com(anies, are re#ated to assets and
risks. T%e' %a!e to &e managed. T%ese institutions manage risks and assets for t%e customers,
reducing and taking o!er t%e risks and transforming t%e assets. T%e cores of t%e &usinesses are
simi#ar, t%oug% not same. T%e &asic !a#ues offered &' &anks, Insurance customer are
V(:2* P0-;-,+.+-/ s .- B(/=,
Banks %a!e an e2tensi!e &ranc% net.ork to make face to face contact .it% customers
and &ui#d trust.
Banks en)o' significant &rand a.areness .it%in t%eir geogra(%ica# region (ro!iding for
a #o.er (er #ead cost .%en ad!ertising t%roug% (rint, radio and te#e!ision. T%e #o'a#
customer &ase a#so contri&utes to #o.er cost (er sa#es #ead
Banks %a!e e2tensi!e e2(erience in marketing to &ot% e2isting customers (for retention
and cross se##ing) and non-customers (for ac;uiring).
Banks %a!e mu#ti(#e communication c%anne#s #ike statement inserts, direct mai#, $TMs,
te#emarketing etc at t%eir dis(osa# .%ic% can im(ro!e transaction (rocessing
andcustomerser!ice.
V(:2* P0-;-,+.+-/, .- I/,20*0
Insurer can increase t%eir !o#ume of &usiness &' (igg' riding on #arge &anking
distri&ution c%anne# .%ic% com(rises of a !ast num&er of &ranc%es
It can so#!e t%e difficu#ties arising out of (rice com(etition, .%ic% as dri!en do.n t%e
margins and increased t%e com(ensation demand of successfu# agents.
B' cutting cots insures can ser!er &etter to t%e customers in terms of #o.er (remium
rate and &etter risk co!erage t%roug% (roduct di!ersification.
V(:2* P0-;-,+.+-/, .- C2,.-?*0
:roduct inno!ation and distri&ution acti!ities are directed to.ards t%e satisfaction of t%e
needs of t%e customer. Bancassurance mode# assists customers in terms of reduced
(rice, di!ersified (roducts ;ua#it'.
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Bancassurance
:roducts, in time and doorste( ser!ice. In case of India, a ma)orit' of (eo(#e .%o
remain unta((ed &' con!entiona# insurance mode# can &enefit from e2tensi!e reac%
of&anks=net.ork.
4.COMPANY PROFILE
456" .as started &' 4asmuk% B%ai :arek% in-,GG .it% t%e formation of Ma#%otra
"ommittee. 456" .as incor(orated .it% t%e (rimar' o&)ecti!e of meeting a socia# need t%at
of (romoting %ome o.ners%i( &' (ro!iding #ong-term finance to %ouse%o#ds for t%eir %ousing
needs. 456" .as (romoted .it% an initia# s%are ca(ita# of Rs. -+ corers.
456" &ank .as incor(orated in $ugust -,,H in t%e name of =456" Bank 3imited=, .it% its
registered office in Mum&ai, India. T%e 4ousing 5e!e#o(ment 6inance "or(oration 3imited
(456") .as amongst t%e first to recei!e an =in (rinci(#e= a((ro!a# from t%e Reser!e Bank of
India (RBI) to set u( a &ank in t%e (ri!ate sector, as (art of t%e RBI=s #i&era#iation of t%e
Indian Banking Industr' in -,,H.It commenced o(erations as a Sc%edu#ed "ommercia# Bank
on -It% Aanuar' -,,5. T%e &ank %as gro.n consistent#' and is no. amongst t%e #eading
(#a'ers in t%e industr'
SNAPSHOT
Incor(orated in -,GG as t%e first s(ecia#ied Mortgage "om(an' in India.
$#most ,+F of initia# s%are%o#ding in t%e %ands of domestic intuitions and retai#
in!estors. "urrent GGF of s%ares %e#d &' foreign institutiona# in!estors.
Besides t%e core &usiness of mortgage 456" %as e!o#!ed into a financia# cong#omerate
.it% %o#dings InD
456" Standard 3ife insurance "om(an'- 456" %o#ds GJ.+G F.
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Bancassurance
456" $sset Management "om(an' K 456" %o#ds 5+.-F
456" Bank- 456" %o#ds **.*5F.
Inte#enet C#o&a# (Business :rocess @utsourcing) K 456" %o#ds 5+F.
456" "%u&& Cenera# Insurance "om(an' K 456" %o#ds GHF
STANDARD LIFE GROUPC
Standard 3ife is Euro(e9s #argest mutua# #ife assurance com(an'. Standard 3ife, .%ic% %as
&een in t%e #ife insurance &usiness for t%e (ast -G5 'ears is a modern com(an' sur!i!ing ;uite
a fe. c%anges since se##ing its first (o#ic' in -J*5. T%e com(an' e2(anded in t%e -,t%centur'
from kits origina# Edin&urg% (remises, o(ening offices in ot%er to.ns and ac;uitting ot%er
simi#ar &usinesses.
Standard 3ife "urrent#' %as assets e2ceeding o!er L G+ &i##ion under its management and %as
t%e distinction of &eing accorded M$$$? rating conse;uent#' for t%e si2 'ears &' Standard and
:oor.
SNAPSHOT
6ounded in -JG5, com(an' su((orting generation for #ast -G, 'ears.
"urrent#' o!er 5 m. :o#ic' %o#ders &enefiting from t%e ser!ices offered.
Euro(e9s #argest mutua# #ife insurer
%@ ' P ( ) *

Bancassurance
%B ' P ( ) *

Bancassurance
#OINT VENTURE


456" and standard #ife insurance first came toget%er for a (ossi&#e )oint !enture, to enter #ife
insurance market, in Aanuar' -,,5. It .as c#ear from t%e outset &ot% com(anies s%ared !a#ues
and &e#iefs and a strong re#ations%i( ;uick#' formed. In @cto&er -,,5 t%e com(anies signed a
N-'ear )oint !enture agreement. $round t%is time standard #ife (urc%ased a 5F stake in 456,
furt%er strengt%ening t%e re#ations%i(.
T%e ne2t t%ree 'ears .ere fi##ed .it% uncertaint', due to c%anges in go!ernment and ongoing
de#a's in getting t%e IR5$ (Insurance Regu#ator' and 5e!e#o(ment $ut%orit') $ct (assed in
(ar#iament. 5es(ite t%is &ot% com(anies remained firm#' committed to t%e !enture.
In @cto&er -,,J, t%e )oint !enture agreement .as rene.ed and additiona# resource made
a!ai#a&#e. $round t%is time standard #ife (urc%ased *Fof Infrastructure 5e!e#o(ment 6inance
"om(an' 3td. (I56") standard 3ife a#so started to use t%e ser!ices of t%e 456" Treasur'
de(artment to ad!ise t%em u(on t%eir in!estment in India.
To.ards t%e end of -,,,, t%e o(ening of t%e market #ooked !er' (romising and &ot%
com(anies agreed t%e time .as rig%t to mo!es t%e o(eration to t%e ne2t #e!e#. T%erefore in
Aanuar' *+++ an e2(ort team from t%e 1O )oined (ocked team from 456" to rPfrom t%e core
(ro)ect team, &ased in Mum&ai. $round t%is time standard #ife (urc%ased a furt%er 5F stake in
456" and 5F stake in 456" Bank.
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Bancassurance
INCORPORATION OF $DFC STANDARD LIFE
INSURANCE COMPANY LIMITED
T5* 1-?;(/E G(, +/1-0;-0(.*6 -/ 1B.5 A2)2,. %000 2/6*0 .5* /(?* -4 HDFC S.(/6(06
L+4* I/,20(/1* C-?;(/E L+?+.*6. T%eir am&ition from t%e &eginning .as to &e t%e first
(ri!ate com(an' to re-enter t%e #ife insurance market in India. @n t%e *Nrd of @cto&er *+++,
t%is am&ition .as rea#ised .%en 456" Standard 3ife .as t%e first #ife com(an' to &e granted
a certificate of registration.
456" is t%e ma)orit' stake%o#der in t%e insurance AB .it% J-.HF sta(#e and Standard of as a
sta(#e -J.IF Mr. 5ee(ak Sat.a#ekar is t%e M5 and "E@ of t%e !enture Ci!en Standard 3ife=s
e2isting in!estment in t%e 456" Crou(, t%is is t%e ma2imum in!estment a##o.ed under
current regu#ations. 456" and Standard 3ife %a!e a #ong and c#ose re#ations%i( &ui#t u(on
s%ared !a#ues and trust. T%e am&ition of 456" Standard 3ife is to mirror t%e success of t%e
(arent com(anies. 456" Standard 3ife Insurance "om(an' 3td. is one of India9s #eading
(ri!ate #ife insurance com(anies, .%ic% offers a range of indi!idua# and grou( insurance
so#utions. It is a )oint !enture &et.een 4ousing 5e!e#o(ment 6inance "or(oration 3imited
(456" 3td.), India9s #eading %ousing finance institution and one of t%e su&sidiaries of
Standard 3ife. Bot% t%e (romoters are .e## kno.n for t%eir et%ica# dea#ings and financia#
strengt% and are t%us committed to &eing a #ong-term (#a'er in t%e #ife insurance industr'.
%H ' P ( ) *

Bancassurance
5.PRODUCT & SERVICE
T%e rig%t in!estment strategies .on=t )ust %e#( (#an for a more comforta&#e tomorro. t%e' .i##
%e#( 'ou get MSAR UTHA NE JIYO3. $t 456" S3I", #ife insurance (#ans are created
kee(ing in mind t%e c%anging needs of fami#'. Its #ife insurance (#ans are designed to (ro!ide
'ou .it% f#e2i&#e o(tions t%at meet &ot% (rotection and sa!ings needs. It offers a fu## range of
trans(arent, f#e2i&#e and !a#ue for mone' (roducts. 456" S3I" (roducts are modern and
contem(orar' unitied (roducts t%at offer uni;ue customer &enefits #ike f#e2i&i#it' to c%oose
co!er #e!e#s, inde2ation and (artia# .it%dra.a#s. (SourceD ....%dfcs#ic.com) 0e at 456"
Standard 3ife rea#ie t%at not e!er'one %as t%e same kind of needs. Oee(ing t%is in mind, .e
%a!e a !aried range of :roducts t%at 'ou can c%oose from to suit a## 'our needs. T%ese .i## %e#(
secure 'our future as .e## as t%e future of 'our fami#'.
PLANS THAT ARE OFFERED BY HDFC STANDARDS LIFE INSURANCE
P0-.*1.+-/ P:(/,
C5+:60*/O, P:(/,
R*.+0*?*/. P:(/,
S(A+/), & I/A*,.?*/. P:(/,
H*(:.5 P:(/,
PRODUCT PORTFOLIO
456" offers (roducts as (er t%e #ife stages of t%e customers and t%eir res(ecti!e needs.
% ' P ( ) *

Bancassurance

Your insurance need .i## c%ange as 'our #ife does, from starting to .ork to en)o'ing 'our
go#den 'ears and a## t%e stages in &et.een. Eac% one of t%ese stages ma' (ose a different
insurance need7co!er for 'ou. In t%is section, .e %a!e dra.n u( t%e &asic #ife stages and %e#(
'ou ana#'e !arious insurance needs according#'
LIFE STAGES & NEEDS IN HAT STAGES
STAGE 1C YOUNG & SINGLE
%F ' P ( ) *

Bancassurance
$n im(ortant stage .%ere one #a's do.n t%e foundation of a successfu# #ife a%ead. Take
ad!antage of t%e time and (o.er of com(ounding to ensure t%at 'ou &ui#d u( 'our dreams.
Start sa!ing ear#'.
NEEDS
Sa!e for 4ome & 0edding
Ta2 :#anning
Sa!e for Co#den Year
STAGE %C JUST MARRIED
Marriage &rings a&out a significant c%ange. >e. dreams and ne.
o((ortunities a#so &ring in additiona# res(onsi&i#ities. 0%i#e &ot% of 'ou
#ook for.ard to a %a((' and secure #ife, it is e;ua##' im(ortant to ensure
t%at e!entua#ities don9t come in t%e .a' of s%a(ing 'our dreams.
NEEDS
:#anning for %ome 7 securing 'our %ome #oan #ia&i#it'.
Sa!e for !acation.
Sa!e for 'our first c%i#d.
STAGE @C PROUD PARENTS
@nce 'ou %a!e c%i#dren, 'our need for #ife insurance is e!en more. You
need to (rotect 'our fami#' from an unto.ard incident. Ensure 'our
(rotection um&re##a takes into account t%e future cost of securing 'our
c%i#d9s dream. You .i## .ant #ife to go on for 'our #o!ed ones, and %a!ing
enoug% #ife insurance is a .a' to %e#( ensure t%at.
NEEDS
:ro!ide for c%i#dren=s education
Safeguarding fami#' against #oan #ia&i#ities
Sa!ings for (ost-retirement
STAGE BC PLANNING FOR RETIREMENT
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Bancassurance
0%i#e 'ou are &us' c#im&ing t%e #adder of success toda', it is im(ortant for 'ou to take time and
(#an for 'our #ife after retirement. 4a!ing an ear#' start for retirement (#anning can make a
significant difference to 'our sa!ings. T%ink a&out 'our go#den 'ears e!en &efore 'ou %a!e
reac%ed t%em. T%e ke' is to t%ink a%ead and (#an .e## using 'our time and mone'.
NEEDSC
:ro!ide for regu#ar income (ost retirement
Immediate Ta2 &enefits
3ead a secure, inde(endent and comforta&#e #ife st'#e in 'our retirement 'ears.
PRODUCT PROFILE
PROTECTION PLANS
456" Term $ssurance :#an
456" 3oan "o!er Term $ssurance :#an
456" 4ome 3oan :rotection :#an
CHILDREN"S PLANS
456" "%i#dren9s :#an
456" 1nit 3inked Young Star II
456" 1nit 3inked Young Star :#us II
456" 1nit 3inked Young Star "%am(ion
RETIREMENT PLANS
456" :ersona# :ension :#an
456" 1nit 3inked :ension II
456" 1nit 3inked :ension Ma2imiser II
456" Immediate $nnuit'
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Bancassurance
SAVINGS & INVESTMENT PLANS
456" 1nit 3inked Endo.ment (#us II
456" Sim(#i3ife
456" 1nit 3inked Endo.ment II
456" 1nit 3inked En%anced 3ife :rotection II
456" 1nit 3inked 0ea#t% Ma2imiser :#us
456" 1nit 3inked 0ea#t% Mu#ti(#ier
456" 1nit 3inked Endo.ment 0inner
456" Endo.ment $ssurance :#an
456" Mone' Back :#an
456" Sing#e :remium 0%o#e of 3ife Insurance :#an
456" $ssurance :#an
456" Sa!ings $ssurance :#an
HEALTH PLANS
456" "ritica# "are :#an
456" Surgi "are :#an
@1 ' P ( ) *

Bancassurance
CUSTOMER SERVICE
P0*?+2? P(E?*/. O;.+-/,
$t a Branc%, B' :ost, 5ro( Bo2es, @n#ine :a'ment, "redit "ard 6aci#it', Eas' Bi##
P-:+1E S*0A+1+/)
"%ange in (ersona# detai#s
"%ange in (o#ic' &enefits
@t%ers suc% as #oss of (o#ic' document, (o#ic' cance##ation in t%e 6ree 3ook.
C5(/)* +/ P*0,-/(: D*.(+:,
"%anges in 'our mai#ing address
"%ange of >ominee7Beneficiar' or $((ointee
:#ease fi## u( t%e $#teration 6orm and send it to 'our nearest &ranc%
C5(/)* +/ P-:+1E B*/*4+.,
"%ange in fre;uenc' of (remium (a'ment
Reduction in t%e #e!e# co!er7(remium of 'our (o#ic'
Remo!a# of additiona# &enefits (Riders)
Reduction in term of t%e (o#ic'
6i## u( t%e $#teration 6orm and send it to 'our nearest &ranc% at #east -5 da's (rior to
ne2t (remium due date
:#ease note t%ese c%anges can &e made for <In-force9 or <:aid-u(9 :o#icies on#'
"onditions a((#'
In case of unit #inked (o#icies in addition to t%e a&o!e 'ou can a#so a!ai# of t%e fo##o.ingD
:a'ing $dditiona# Sing#e :remium ($dditiona# Sing#e :remium To(-1()
"%anging 'our current in!estment com(osition (6und S.itc%)
"%anging 'our future (remium direction (:remium Redirection)
Increase 'our regu#ar (remium
6und S.itc% 6or 456"S3 1nit 3inked 0ea#t% Ma2imiser
O.5*0,
T5+, ,*1.+-/ )+A*, E-2 6*.(+:, .5(. E-2 0*<2+0* +/ 1(,*C
You %a!e mis(#aced or damaged 'our (o#ic' document and .ant us to issue 'ou a
du(#icate or,
@% ' P ( ) *

Bancassurance
You .ant to return t%e (o#ic' .it%in t%e <6ree 3ook9.
I,,2* -4 ( D2;:+1(.* P-:+1E
In case 'ou %a!e mis(#aced 'our (o#ic' document .e can issue 'ou a du(#icate (o#ic'
document
$n a((#ication for Issue of du(#icate (o#ic'.
$ co(' of 6IR #odged .it% t%e #oca# (o#ice station
Indemnit' and affida!it for #oss of (o#ic' documents.
3ost (o#ic' fee to.ards t%e stam( dut' to &e (aid to t%e go!ernment, .%ic% is
ca#cu#ated at Rs. *+7- (er #ak% sum assured. In case 'ou %a!e a#so o(ted for additiona#
term &enefit ($TB) rider t%en an additiona# c%arge of Rs.*+7- (er #ak% of $TB sum
assured .i## &e added
In case of a damaged (o#ic' document, t%e origina# document .it% a #etter
F0** L--=
:#ease return t%e (o#ic' document to 'our nearest &ranc% a#ong .it% a #etter e2(#aining
'our reasons
0e .i## refund 'our (remium (aidQ, after deducting t%e e2(enses incurred &' us on
Stam( dut' (aid &' us to t%e go!ernment on 'our (o#ic'
Risk co!er (ro!ided during t%is (eriod
Medica# e2amination, if an'
$d!erse mo!ement of unit (rices, in case of unit #inked (#ans
Q :remium (aid for 1nit 3inked (#ans .ou#d &e com(uted as Ba#ue of units a##ocated on t%e
date of recei(t of re;uest
R T%e una##ocated (art of t%e (remium
R "%arges #e!ied &' cance##ation of units
In case, 'ou .is% to o(t for anot%er insurance (#an during t%e #ook-in (eriod .%ic% is more
suited to 'our needs, a## 'ou need to do isD
:#ease su&mit a fres% (ro(osa# form a#ong .it% t%e origina# (o#ic' documents and a
#etter stating t%e c%ange
0e .i## transfer t%e net (remium amount (after deduction of a((#ica&#e c%arges as
stated a&o!e) to.ards (art of t%e (remium (a'a&#e for t%e fres% (ro(osa#. Ba#ance
amount, if an', .i## &e refunded to 'ou
@@ ' P ( ) *

Bancassurance
L(;,(.+-/ & R*A+A(:
Your rene.a# (remium s%ou#d reac% us &' t%e due date s(ecified in t%e (remium reminders. It
is a#.a's ad!isa&#e to (a' on time so t%at 'our !a#ua&#e (o#ic' &enefits can continue. 4o.e!er
.e do understand t%at t%ere ma' &e times .%en 'ou ma' not &e a&#e to (a' t%e rene.a#
(remium &' t%e due date. T%erefore .e a##o. for some additiona# num&er of da's from t%e due
date, .%ic% is s(ecified in 'our (o#ic' document, to %e#( 'ou make 'our (remium (a'ment. In
case .e sti## don9t recei!e 'our (remium (a'ments &' t%e end of t%e a&o!e mentioned (eriod,
.e .ou#d do eit%er one of t%e fo##o.ingD M3a(se? t%e (o#ic' K if 'ou %a!en9t (aid (remiums
for t%e first N (o#ic' 'ears. Make t%e (o#ic' M:aid u(? K if ot%er.ise
Eit%er of t%ese ma' mean #oss7reduction of !a#ua&#e &enefits of 'our (o#ic'. :#ease refer to
'our (o#ic' document for detai#s. 0e do, %o.e!er, a##o. 'ou to restore t%e origina# &enefits for
a 3a(sed or a :aid u( (o#ic' under certain conditions. 4ere is .%at 'ou .ou#d need to doD
:#ease fi## u( a Re!i!a# Re;uest form and intimate it to 'our nearest &ranc%
@n recei(t .e .i## send 'ou t%e detai#s of amount t%at 'ou .i## %a!e to (a' to.ards
re!i!a#. T%is amount ma' inc#ude t%e outstanding (remiums, re!i!a# interest and
re!i!a# (rocessing c%arges
If 'our (o#ic' is #a(sed or (aid-u( for more t%an si2 mont%s or #a(sed due to an'
reasons #ike i##ness, accidents etc. 'ou ma' need to su&mit a :ersona# 4ea#t% Statement
:#ease note t%at .e reser!e our rig%t to im(ose some ne. terms and conditions at t%e
time of re!i!a# decided on a case-to-case &asis
You can s(eak to an' of our officers at a &ranc% nearest to 'ou for more information.
@B ' P ( ) *

Bancassurance
C:(+?,
$t 456" Standard 3ife .e #end a %e#(ing %and &' ena&#ing faster sett#ement of c#aims and
%e#( t%e fami#' financia##' at t%e time of distress. 6or an' assistance or ;uer' re#ating to
re(orting c#aims (5eat% "#aims 7 "ritica# I##ness "#aims) 'ou ma' get in touc% .it% us &'
emai#ing us at 1:(+?,P5641+/,20(/1*.1-? and .e .i## get &ack to 'ou .it% t%e detai#s t%at
.i## &e re;uired to (rocess a c#aim. To %e#( 'ou arrange t%e documents .e %a!e dra.n u( a #ist
of documents t%at 'ou ma' &e re;uired to send a#ong .it% t%e c#aims form. T%is #ist is for 'our
reference on#' and t%e com(#ete #ist ma' !ar' for eac% c#aim.
5eat% "#aims
"ritica# I##ness "#aims
Surgi "are "#aims
D*(.5 C:(+?,
1. Death Claim for Personal Pension Plan/Single Premium Whole of Life / Savings
Assurance Plans
5eat% "#aim 6orm
@rigina# :o#ic' 5ocument
$ co(' of deat% certificate issued &' Munici(a# "or(oration 7 Co!ernmentQ
:roof of identit' of &eneficiar' !i (ass(ort or E#ection I5 or :an "ard @r 5ri!ing
3icense. Q
:roof of residence of &eneficiar' !i E#ectricit' &i##s or Ration card or te#e(%one &i## or
(ass(ort (&i##s not greater t%an N mont%s) Q
3ega# E!idence of Tit#e (in case t%ere is no nominee)
5isc%arge Bouc%er (du#' attested) a#ong.it% a co(' of (ass&ook
. Death Claim for All !ther Plans
A. "on#Acci$ental Claims#
5eat% "#aim 6orm
@rigina# :o#ic' 5ocument
$ co(' of cause of deat% certificate issued &' t%e doctor 7 %os(ita# Q
$ co(' of (ost mortem re(ort if carried out (attested &' 4os(ita# $ut%orities)
$ co(' of cremation or Buria# "ertificate
$ co(' of a## medica# records inc#uding admission notes, disc%arge summar', dai#'
(rogress s%eets and ot%er re(orts. Q
@5 ' P ( ) *

Bancassurance
"ertificate issued &' (attending doctor, usua# fami#' (%'sician and em(#o'er) (6ormat
.i## &e issued &' "#aims Team)
3ega# E!idence of Tit#e (in case t%ere is no nominee)
$ co(' of deat% certificate issued &' Munici(a# "or(oration 7 Co!ernmentQ
:roof of identit' of &eneficiar' !i (ass(ort or E#ection I5 or :an "ard @r 5ri!ing
3icense.Q
:roof of residence of &eneficiar' !i E#ectricit' &i##s or Ration card or te#e(%one &i## or
(ass(ort (&i##s not greater t%an N mont%s)Q
5isc%arge Bouc%er (du#' attested) a#ong.it% a co(' of (ass&ook.
B. Acci$ental/%ur$er/Suici$e
5eat% "#aim 6orm
@rigina# :o#ic' 5ocument
$ co(' of deat% certificate issued &' Munici(a# "or(oration 7 Co!ernmentQ
$ co(' of cause of deat% certificate issued &' t%e doctor 7 %os(ita# Q
$ co(' of cremation or Buria# "ertificate Q
3ega# E!idence of Tit#e (in case t%ere is no nominee)
$ co(' of 6IR (6irst Information Re(ort), :anc%nama In;uest Re(ort and
6ina# In!estigation Re(ort (attested &' :o#ice $ut%orities)
$ co(' of :ost mortem re(ort and c%emica# ana#'sis 7 !iscera re(ort (attested &'
%os(ita# aut%orities)
$ co(' of !a#id dri!ing #icense of t%e deceased 3ife $ssured
5isc%arge Bouc%er (du#' attested) a#ong .it% a co(' of (ass&ook%
C0+.+1(: I::/*,, C:(+?,
"ritica# I##ness 6orm
"o(ies of medica# records at t%e time of diagnosis of "ritica# I##ness
"o(ies of (ast medica# records for treatment taken.
5isc%arge Bouc%er (du#' attested) a#ong.it% a co(' of (ass&ook.
S20)+ C(0* C:(+?,
:re- $ut%oriation 6orm
Berified :%otoco(' of t%e (o#ic' document.
5u#' fi##ed and signed c#aim form in origina#.
Berified (%otoco(' of a (%oto identit' document as su&mitted at (ro(osa# stage
Berified (%otoco(' of t%e %os(ita#iation disc%arge card7summar'
Berified (%otoco(' of t%e %os(ita#iation in!oice a#ong .it% t%e itemied in!oice and
corres(onding (a'ment recei(ts
@H ' P ( ) *

Bancassurance
Surgica# summar' (in case t%e c#aimant %as undergone a surger') !erified &' t%e o(erating
surgeon.
Berified (%otoco(ies of a## t%e su((orting diagnostic re(orts and (rescri(tions
Berified (%otoco(' of t%e T:$ I5 card
$n' ot%er documents or information as ma' &e re;uired &' t%e "om(an' for (rocessing of
t%e c#aim de(ending on t%e cause of t%e c#aim.
$## documents must &e du#' attested &' t%e :o#ic'%o#der or "#aimant.
B-/2,
0e are (#eased to announce our Eig%t% Successi!e Re!ersionar' Bonus for t%e 'ear from -
$(ri# *++G to N- Marc% *++J. T%is &onus dec#aration .i## &enefit a## =0it% :rofits= customers
.%o %a!e (aid a## (remiums in fu## .%en due. 0e %a!e e2(erienced su&stantia# gro.t% o!er t%e
#ast 'ear and toda' co!er o!er NH, ++,+++ :o#ic' 4o#ders. $s a resu#t of an im(ro!ed
(erformance and a gro.ing &usiness, .e no. %a!e a nation.ide foot(rint of o!er 5G*
&ranc%es.
$5(. (0* .5* ;-:+1+*, 1-A*0*6 DE .5+, 6*1:(0(.+-/M
T%is &onus dec#aration is a((#ica&#e on#' to (o#icies under t%e fo##o.ing =0it% :rofits= (#ansD
456" Endo.ment $ssurance :#an
456" "%i#dren9s :#an
456" Mone' Back :#an
456" Sing#e :remium 0%o#e of 3ife :#an
456" :ersona# :ension :#an
456" Sa!ings $ssurance :#an
456" $ssurance :#an
H-G 6-*, ( OG+.5 ;0-4+.,O ;-:+1E G-0=M
@!er t%e term of 'our (o#ic', .e in!est t%e (remiums t%at .e recei!e from 'ou and from ot%er
simi#ar =0it% :rofits= (o#ic'%o#ders in a =0it% :rofits= fund. 0e in!est in a !ariet' of assets to
ac%ie!e an in!estment return on 'our (o#ic'. Benefits and e2(enses of 'our (o#ic' are (aid out
of t%is fund. 0e use &onuses to gi!e 'ou a maturit' !a#ue, .%ic% fair#' ref#ects t%e
(erformance of t%e fund (in!estment or ot%er.ise) o!er t%e term of t%e (o#ic'. T%e #e!e# of
&onuses .e a##ocate aims to de#i!er a fair s%are of t%e fund .%en t%e (o#ic' matures or on a
deat% c#aim.
@ ' P ( ) *

Bancassurance
N-.*C $dditiona# &enefits taken &' 'ou suc% as critica# i##ness or accidenta# deat% &enefits,
offer (rotection for different circumstances and %a!e no in!estment-re#ated &enefits. 4ence
t%e' do not attract &onuses.
What are the $ifferent &onuses availa&le'
R*A*0,+-/(0EB-/2,
0e dec#are Re!ersionar' Bonus annua##' as a (ercentage of t%e Sum $ssured (:#us attac%ing
&onuses in case of 456" Sing#e :remium 0%o#e of 3ife (o#icies).
@nce added to 'our (o#ic', t%is Bonus is guaranteed to &e (a'a&#e at maturit'. 6or Sing#e
:remium 0%o#e of 3ife (o#icies, .%ic% do not %a!e a maturit' date, t%is &onus are guaranteed
to &e (aid on se#ected future (o#ic' anni!ersaries. 6or a## our =0it% :rofits= (#ans, t%e inf#uence
of our re!ersionar' &onus dec#aration on t%e deat% &enefit is go!erned &' t%e (o#ic' .ording
under eac% (#an. 0e ca#cu#ate t%is &onus kee(ing in mind a #ong-term !ie. of in!estment
returns, e2(enses, morta#it' and ot%er e2(erience e#ements.
I/.*0+?B-/2,
if a maturit' c#aim or deat% c#aim is made &efore t%e ne2t (#anned re!ersionar' &onus
dec#aration, .e .i## add an Interim Bonus to 'our (o#ic'. $## (o#icies .%ere suc% c#aims %a!e
occurred do not (artici(ate in t%e ne2t re!ersionar' &onus dec#aration. T%erefore, .e add an
Interim Bonus to gi!e 'ou or 'our nominee a fair s%are of &onus earned o!er t%e ne2t financia#
'ear i.e. from - $(ri# *++J to t%e date of c#aim. 6or a## our =0it% :rofits= (#ans, t%e inf#uence of
our interim &onus dec#aration on t%e deat% &enefit is go!erned &' t%e (o#ic'
.ordingundereac%(#an.
T*0?+/(:B-/2,
T%is &onus is sometimes added to a (o#ic' on maturit' and a##o.s us to (a' t%e fair s%are of
t%e =0it% :rofits= fund &ased on t%e e2(erience o!er t%e (o#ic' term.
$5(. +, +/ E-20 D-/2, ,.(.*?*/.M
Your &onus statement e2(#ains %o. t%is announcement adds to 'our &enefits. It containsD
@F ' P ( ) *

Bancassurance
T%e &asic Sum $ssured on 'our (o#ic'.
$n' Re!ersionar' Bonuses a#read' attac%ed to 'our (o#ic' from (re!ious 'ears.
T%e Re!ersionar' Bonus rate to &e a((#ied to 'our (o#ic' for t%e 'ear ending N--N-*++J.
T%e Re!ersionar' Bonus t%at .i## &e added in res(ect of t%is current &onus announcement.
QN+/6:E /-.*# .5* D+))*,. D*/*4+. -4 ( P*/,+-/ ;-:+1E +, .5* 0*.+0*?*/. D*/*4+. .50-2)5
(//2+.E -;.+-/,.
@& ' P ( ) *

Bancassurance
6.RESEARCH METHODOLOGY
D(.( 1-::*1.+-/
6or data co##ection, .e de!e#o(ed a .e## defined ;uestionnaire as a researc% instrument,
consisting ;uestions aimed to measure t%e (eo(#e (erce(tion a&out insurance, t%eir need and
(ro&#ems. 0e conducted unstructured inter!ie.s sam(#e sie of -++ genera# (eo(#e Sur!e'
#ocation .as Mum&ai etc%
Ta&#es .ere used for t%e ana#'sis of t%e co##ected data. T%e data is a#so neat#' (resented .it%
t%e %e#( of gra(%s and c%art. :ercentages and a!erages %a!e a#so &een used to re(resent data
c#ear#' and effecti!e#'. $## t%e data generated .as (rimar' data t%at .as generated direct#'
from face to face communication.
D(.( (/(:E,+,
T%e data co##ected &ased on structured ;uestionnaire is recorded on an e2ce# s%eet and .it%
t%e %e#( of (ie c%art ana#'sis a#ong .it% (i##ar data ana#'sis is generated and &ased on t%is
findings a ;ua#itati!e inferences are made for eac% ana#'sis. T%e same is &eing (resented in
form of gra(%s and ta&#es
S20A*E R*,2:.,
T%e fo##o.ing are m' findings regarding t%e sur!e' conducted. Ta&#es .ere used for t%e
ana#'sis of t%e co##ected data. Cra(%s and c%arts %a!e a#so &een used to re(resent data c#ear#'
and effecti!e#'.
B0 ' P ( ) *

Bancassurance
7.DATA ANALYSIS AND INTERPRETATION
TABLE.1 - PERSONAL VIE$S ABOUT INSURANCEC
B1 ' P ( ) *
PERSONAL
VIE$S ABOUT
INSURANCE
S.0-/):E
A)0**
A)0** N*2.0(: D+,()0** S.0-/):E
D+,()0**
T-.(:
I/,20(/1* ;0-A+6*,
;0-.*1.+-/ .- E-2
(/6 E-20 4(?+:E
@% @ 1& 1% 0 100
I/,20(/1* +, (/
(D,-:2.* /*1*,,+.E
4-0 (/ +/6+A+62(:Q
4(?+:E
10 @0 @F 1& @ 100
I/,20(/1* +, -/* -4
.5* D*,. I/A*,.?*/.
-;.+-/,
& %0 B% %1 F 100

Bancassurance
INFERENCED 6rom t%e a&o!e, it can &e o&ser!ed t%at
-. N*F of t%e res(ondents strong#' agree t%at Insurance (ro!ides (rotection to t%eir fami#'
and NGF, .%ic% is a ma)orit', agree to t%e same. But -,F of t%e res(ondents remained
>eutra# and -*F disagree t%e same. >o one strong#' disagreed t%e !ie..
*. -+F of t%e res(ondents strong#' agree t%at Insurance is an a&so#ute necessit' for an
Indi!idua#7fami#' and N+F agree to t%is. NJF sta'ed >eutra# and -,F of t%e
res(ondents disagreed t%e !ie.. $ #ess (ercentage of N strong#' disagreed t%e !ie..
N. ,F of t%e res(ondents strong#' agree t%at Insurance is one of t%e &est in!estment
o(tions and *+F agree to t%is. H*F, t%at is a ma)orit', remained neutra# .%ereas *-F
disagreed t%e (oint. $#so JF of t%e res(ondents strong#' disagreed.
TABLE .% - LIFE INSURANCE POLICY HOLDER
INFERENCED 6rom t%e a&o!e, it can &e noticed t%at HGF of t%e res(ondents are %o#ding a
3ife Insurance (o#ic' current#' and t%e &ig rest 5NF are not %o#ding an' 3ife Insurance (o#ic'.
B% ' P ( ) *
LIFE INSURANCE
POLICY HOLDER
NO. OF RESPONDENTS PERCENTAGE
Yes
B B
No
5@ 5@
TOTAL
100 100

Bancassurance
TABLE.@- A$ARENESS ABOUT HDFC STANDARD LIFE INSURANCE

INFERENCED 6rom t%e a&o!e ta&#e, it can &e o&ser!ed t%at a !ita# (art of t%e res(ondents,
.%ic% is G*F are a.are a&out 456" 3ife insurance and *JF do not %a!e t%e same
TABLE.B-SOURCE TO NNO$ ABOUT HDFC LIFE INSURANCE
B@ ' P ( ) *
A$ARE OF HDFC
STANDARD LIFE
INSURANCE
NO. OF
RESPONDENTS
PERCENTAGE
Yes
% %
No
%F %F
TOTAL
100 100
SOURCE N-. -4 0*,;-/6*/. P*01*/.()*
456" Bank *J N,
$d!ertisement HH I-
6riends & Re#ati!es + >i#
@t%ers + >i#
>7$ *J *J
Tota#
100 100

Bancassurance

INFERENCED
6rom t%e a&o!e .e can understand t%at t%e ma)or Source to Ono. a&out 456" 3ife Insurance
is $d!ertisement, .%ic% is con!e'ed &' I-F of t%e res(ondents. 0%ereas 456" Bank o.ns
N,F
TABLE.5- A$ARE OF OBTAINING HDFC STANDARD LIFE POLICY
FROM HDFC BANN

INFERENCEC
BB ' P ( ) *
A$ARE OF OBTAINING
POLICY
FROM HDFC BANN
NO. OF
RESPONDENTS
PERCENTAGE
Y*,
BH BH
N-
5B 5B
TOTAL
100 100

Bancassurance
6rom t%e a&o!e, it can &e noticed t%at HIF of t%e res(ondents kno. .e## t%at 456" standard
#ife insurance (o#ic' can &e &oug%t from 456" &ank &ranc%es. But 5HF of t%e res(ondents,
.%ic% is a ma)orit', don9t kno. t%e same.
TABLE H- FAMILIARITY $ITH THE POLICIES OFFERED BY HDFC
STANDARD LIFE INSURANCE
FAMILIAR $IH THE TYPES
OF POLICIES OFFERED BY
HDFC STANDARD LIFE
INSURANCE
N-. -4
0*,;-/6*/.,
P*01*/.()*
S.0-/):E A)0** 11 11
A)0** %H %H
N*2.0(: 1B 1B
D+,()0** @ @
S.0-/):E D+,()0** 1% 1%
To!"
100 100

INFERENCED 6rom t%e a&o!e, it can &e seen t%at --F of t%e res(ondents are fami#iar .it%
t%e different t'(es of (o#icies offered &' 456" Standard 3ife insurance .%ic% t%e' %a!e
strong#' agree and *IF agree to it. 0%ereas -HF remained neutra#. NGF disagreed and -*F of
t%e res(ondents strong#' disagreed t%e !ie.. T%us, ma)orit' of t%e res(ondents are not fami#iar
.it% t%e different t'(es of (o#icies offered &' 456" Standard 3ife Insurance.
TABLE- INITIATIVES TANEN BY HDFC BANN TO PROMOTE HDFC
STANDARD LIFE INSURANCE PRODUCTS
B5 ' P ( ) *

Bancassurance

INFERENCED 6rom t%e a&o!e, it can &e o&ser!ed t%at
(a) -*F of t%e res(ondents strong#' agree t%at t%e' %a!e noticed t%e dis(#a's of 456"
standard #ife Insurance in 456" Bank. $#so **F su((ort t%em &' agreeing to it. -JF
remain un&iased and NNF disagree t%e statement. $nd -5F of t%e res(ondents %a!e
strong#' disagreed t%e same.
BH ' P ( ) *
I/+.+(.+A*, .(=*/ DE
H641 D(/=
S.0-/):E
A)0**
A)0** N*2.0(: D+,()0** S.0-/):E
D+,()0**
T-.(:
6+,;:(E, 0*)(06+/)
HDFC S.(/6(06 L+4*
I/,20(/1* +/ HDFC
B(/=
1% %% 1F @@ 15 100
(6A*0.+,*?*/.,Q:+/=,
*.1.# 0*)(06+/) HDFC
S.(/6(06 L+4*
I/,20(/1* +/ HDFC
B(/= $*D S+.*
10 %% 1@ @B %1 100
HDFC B(/= E?;:-E**,
5(A* *>;:(+/*6 E-2
(D-2. .5* ;-:+1+*,
-4 HDFC ,.(/6(06 :+4*
+/,20(/1* (.50-2)5
;5-/* 1(::,Q6+0*1.
1-/.(1.)
1B % 1% @5 1% 100

Bancassurance
(&) -+F of t%e res(ondents strong#' agree t%at t%e' %a!e come across t%e #inks7ads
concerning 456" standard #ife insurance in t%e .e& site of 456" Bank. **F agree to
t%is (oint and -NF re(#ied neutra#. But NHF disagree to t%is and *-F strong#' disagree
t%e same.
(c) -HF of t%e res(ondents strong#' agree t%at t%e Em(#o'ees of 456" &ank %as
e2(#ained t%em a&out 456" Standard #ife insurance (roducts. $nd t%e same %as &een
agreed &' *GF of t%e res(ondents. -*F of t%e res(ondents didn9t take eit%er side.
0%ereas N5F disagree t%e statement and -*F of t%e res(ondent9s %a!e strong#'
disagreed.
TABLE - F SATISFACTION OF CUSTOMER SERVICES

INFERENCEC
6rom t%e a&o!e, it can &e o&ser!ed t%at -NF of t%e res(ondents re(#ied t%at t%e' are %ig%#'
satisfied .it% t%e customer ser!ice (ro!ided &' 456" &ank. $nd good (ercentage of HN
ans.ered t%at t%e' are satisfied .it% t%e customer ser!ice. $#so, *JF of t%e res(ondents sa'
B ' P ( ) *
ustomer !er"ice
N-. -4 0*,;-/6*/., P*01*/.()*
H+)5:E S(.+,4+*6 1@ 1@
S(.+,4+*6 B@ B@
M-6*0(.*:E ,(.+,4+*6 %F %F
D+,,(.+,4+*6 1@ 1@
H+)5:E 6+,,(.+,4+*6 @ @
Total
100 100

Bancassurance
t%at t%e' are moderate#' satisfied &ut -JF dec#ared t%at t%e' are dissatisfied .it% t%e customer
ser!ice. $ #ess num&er of NF a#so c#aim t%at t%e' are %ig%#' dissatisfied .it% t%e same.
@!era##, most of t%e res(ondents are satisfied .it% t%e customer ser!ices
TABLE-& FACTORS THAT BUILD A STRONG RELATIONSHIP $ITH
CUSTOMERS

INFERENCEC 6rom t%e a&o!e, it can &e o&ser!ed t%at
(a) NGF of t%e res(ondents strong#' agree .it% t%e Re#ia&i#it' factor. $#so H*F of t%e
res(ondents agree to it. -*F sta'ed neutra#.GF of t%e res(ondents %a!e disagreed and
*F strong#' disagreed to it.
(&) -5F of t%e res(ondents strong#' agree to t%e fact t%at t%ere e2ists an eas' and
ad!antageous &anking o!er ot%er &anks. $#so *-F of t%e res(ondents agreed t%e same.
BF ' P ( ) *
RELATIONSHIP BUILDING
FACTORS
S#o$%"&
A%#''
A%#'' N'(#!" D)*!%#'' S#o$%"&
D)*!%#''
To!"
R'")!+)")& 37 42 12 7 2 1,,
E!*& !$- !-.!$!%'o(*
+!$/)$% o.'# o0'# +!$/*
15 21 24 36 4 1,,
1)-' #!$%' o2
P#o-(3* !$- S30'4'*
13 24 32 25 3 1,,
B''# ($-'#*!$-)$%
o2 3(*o4'# $''-* !$-
6#o.)-' '76'# !-.)3'
15 23 33 26 3 1,,

Bancassurance
*HF sta'ed neutra#. $ t'(ica# NIF of t%e res(ondents disagree t%e !ie. and HF
strong#' disagree t%e same.
(c) -NF of t%e res(ondents strong#' agree to t%e factor of .ide range of (roducts and
sc%emes. T%e same is a#so agreed &' *HF. N*F of t%e res(ondents remained
neutra#.*JF of t%e res(ondents disagreed t%is !ie. and a #ess (ercentage of N a#so
strong#' disagree to t%is.
(d) -5F of t%e res(ondents strong#' agree to t%e factor of &etter understanding of customer
needs and E2(ert ad!ice and **F agree to t%e !ie..NNF sta'ed neutra#. 0%ereas *IF
of t%e res(ondents %a!e disagreed and NHF %as strong#' disagreed.
TABLE-10 HDFC BANN AS A ONE-SHOP STOP FOR ALL FINANCIAL
NEEDS
HDFC B(/= (, ( -/* ,.-;
S5-;
N-. -4 0*,;-/6*/., P*01*/.()*
S.0-/):E A)0** 1% 1%
A)0** %% %%
N*2.0(: @H @H
D+,()0** %% %%
S.0-/):E D+,()0** F F
To!"
100 100
INFERENCED
B& ' P ( ) *

Bancassurance
6rom t%e a&o!e, it can &e seen t%at -*F of t%e res(ondents strong#' agree t%at t%e' .i## (refer
456" Bank as a one-sto( s%o( for a## t%eir financia# needs. **F of t%e res(ondents re(#ied
t%at t%e' agreed and NIF of t%e res(ondents, .%ic% is a ma)orit', remain neutra# a&out t%is.
But **F%a!e denied t%e same. $nd JF %a!e strong#' disagreed to it.
TABLE-11 REASONS FOR TANING A LIFE INSURANCE POLICY IN
THE NEAR FUTURE

INFERENCE D
50 ' P ( ) *
REASONS FOR
TANING A LIFE
INSURANCE
POLICY
H+)5:E
E,,*/.+(:
E,,*/.+(:
L*(,.
E,,*/.+(:
N-.
E,,*/.+(:
N-.
E,,*/.+(:
A. A::
NQA
T-.(:
P-,. 0*.+0*?*/.
+/1-?*
B B 10 1@ 11 5F 100
I/A*,. +/ 15+:6",
60*(?,
5 F 1% F & 5F 100
G+A* P0-.*1.+-/
(/6 ,(4*.E .-
.5* 4(?+:E +/
1(,* -4
2/4-0.2/(.*
-11200*/1*,
@ @ 11 1% 1@ 5F 100
T(> B*/*4+., 1& 11 @ H @ 5F 100
B*..*0 0*.20/,
+/ .*0?, -4
+/A*,.?*/.
11 1H H @ H 5F 100

Bancassurance
6rom t%e a&o!e, it can &e o&ser!ed t%at, out of H* res(ondents, -, res(ondents i.e., H5F ranked
Ta2 Benefits as a 4ig%#' Essentia# one for taking a (o#ic' in t%e near future. $nd -I
res(ondents i.e., NJF ranked Better returns as an essentia# one. -* res(ondents i.e., *JF ranked
In!est in "%i#d dreams as 3east Essentia#.-N res(ondents i.e., N-F ranked :ost retirement
income as >ot Essentia#. T%e reason for taking t%e (o#ic' to (rotect t%e fami#' in case of
une2(ected occurrences %as &een ranked as >ot Essentia# at a## &' -N res(ondents, i.e., N-F.
TABLE-1% CHOOSING HDFC STANDARD LIFE INSURANCE TO TANE A POLICY
IN FUTURE


INFERENCE D
6rom t%e a&o!e ta&#e it can &e seen t%at HGF of t%e res(ondents re(#ied t%at t%eir c%oice .i##
&e 456" Standard 3ife Insurance and 5NF denied t%e same. >ote t%at 5J res(ondents .%o are
not %a!ing t%e idea of taking an' #ife insurance (o#ic' in t%e near future %a!e &een to#d to
assume if t%e' take a #ife insurance (o#ic' in distant future to res(ond to t%is ;uestion.
51 ' P ( ) *
C5--,+/) H641 S.(/6(06
L+4* I/,20(/1*
N-. -4 0*,;-/6*/., P*01*/.()*
Y*, 5@ 5@
N- B B
T-.(: 100 100

Bancassurance
5.FINDINGS
T%e increase in t%e re!enue for t%e sa#e of insurance (o#icies &' 456" &ank and t%e
increase in t%e retai# segment9s (rofit and assets indicate t%at t%e financia# (erformance of
t%e 456" &ank in &ancassurance %as &een good and t%e &ancassurance %as a#so
contri&uted .e## to t%e retai# segment.
T%us, it is ;uite c#ear t%at 456" Bank is e2(ected to take sti## more initiati!es to im(ro!e
its e2isting (erformance in &ancassurance. To ana#'se t%e .a's and means for it,
res(onses are co##ected from t%e customers. It a#so indicates t%e necessit' of furt%er
initiati!es and t%e areas .%ere t%e' need to focus and can cas% in on t%e situation for
&etter (ros(ects. 6o##o.ing are t%e )ustifications from t%e (rimar' data
T%oug% genera# o(inion a&out insurance is (rett' good among t%e (eo(#e, most of t%e
res(ondents are uncertain a&out insurance as an in!estment o(tion. $nd most of t%e
res(ondents are a.are of 456" standard #ife, a.areness needs to &e created a&out t%e
fact t%at 456" &ank is cross-se##ing 456" Standard 3ife :o#icies.
T%oug% t%e ot%er re#ations%i( &ui#ding factors are found satisfactor' among most of t%e
customers, em(%asis is needed in t%e area of Eas' and ad!antageous &anking o!er ot%er
&anks since it is denied &' ma)orit' of t%e res(ondents. $s t%ese factors, es(ecia##' t%e
eas' and ad!antageous &anking determines t%e mindset of t%e customer in considering
t%e &ank as an integrated financia# so#utions, t%is re;uires immense attention &' 456"
&ank.
Ma)orit' of t%e res(ondents are satisfied .it% t%e customer ser!ices (ro!ided &' 456"
&ank t%at it is a (ositi!e sign for &ancassurance
5% ' P ( ) *

Bancassurance
8.RECOMMENDATIONS
To strengt%en t%e initiati!es t%at are muc% needed to reac% out more (u&#ic and to
im(ro!e its e2isting (erformance, t%e fo##o.ing can &e doneE
To reac% out more customers !ia .e&site, 456" &ank can educate t%e customer &'
sending fre;uent e-mai#s .it% attracti!e s'no(sis to t%e e-mai# ids of t%e customer a&out
456" standard #ife insurance (o#icies .it% t%e #ink carr'ing t%em to t%e 456" &ank
.e&site. More (o(-u(s .indo., fre;uent (#a'ing of gra(%ica# dis(#a's, can a#so attract
more customers .%o are !isiting 456" &ank .e&site.
Em(#o'ees of t%e 456" &ank can a#so &e gi!en more training a&out 456" Standard
3ife (o#icies, as t%is .i## %e#( t%em to e2(#ain and guide t%e customers &etter. Moti!ation,
immediate re.ards and &etter incenti!e (ackages can a#so %e#( t%em to do &etter. T%is
t'(e of ena&#ing sa#es oriented cu#ture among t%e em(#o'ees is t%e &est (ossi&#e .a' to
increase t%e (roducti!it' among t%e em(#o'ees t%at it assumes greater significance
Most of t%e res(ondents are satisfied .it% t%e customer ser!ices t%at it is a (ositi!e sign.
But, since customer satisfaction is no customer #o'a#t', t%e' .i## (refer to acce(t more
(roducts .it% t%e same &ank on#' if t%e' find it ad!antageous. $s most of t%e customers
denied t%e eas' and ad!antageous &anking in 456" o!er ot%er &anks, it is im(ortant for
t%e &ank to find out more .a's to (romote t%e same. T%is .i## definite#' %e#( t%e &ank to
con!ince more customers to (refer 456" &ank as t%eir one sto( s%o( for a## t%eir
financia# so#utions.
$s man' of t%e res(ondents .%o .is% to &u' 456" Standard 3ife Insurance :o#ic' a#so
%a!e o(ted 456" &ank as t%eir c%anne#, t%e &ank can make use of it and retain its
customer
5@ ' P ( ) *

Bancassurance
1,. CONCLUSIONS
456" &ank .i## definite#' (#a' a (redominant ro#e in t%e &ancassurance industr' and
t%ere&' can contri&ute more to t%e u(#iftment of t%e &ank t%e &ancassurance (erformance
of 456" &ank and standard #ife %as &een good and it a#so (ro!ides a %e#(ing %and to t%e
o!era## (rogress of t%e &ank. 456" Standard 3ife Insurance .as gro.n a #ot t%roug% its
aggressi!e marketing strategies and t%e gro.t% rate as tremendous, t%roug% it is gro.ing
faster it %as to .ork on certain t%ings and maintain t%e standard. T%is can &e done t%roug%
introducing more inno!ati!e (roducts and recruiting good ;ua#it' ad!isors &ecause t%e' are
t%e (i##ars of t%e com(an'.
T%e (ros(ect for &ancassurance is a#so &rig%t as 456" &ank is found to &e a (refera&#e
distri&ution c%anne# among t%e customers .%o .is% to &u' 456" standard #ife (o#ic'.
0it% more initiati!es and focus in t%e s(ecified areas t%e &ank can e!en %a!e t%e
(otentia##' of making more customers to &u' 456" Standard 3ife (o#ic' from 456"
&ank.
T%e customer s%ou#d fee# t%at .%ate!er com(an' is gi!ing is somet%ing great, and no one
cou#d e!er imagine a&out it. T%is fee#ing makes t%e customer fee# t%at com(an' is !er'
muc% satisf'ing t%em. In addition, t%e e2tra feature gi!en to satisf'ing is somet%ing great.
It can a#so take t%e ad!antage of more customer &ase and can &ecome more com(etiti!e.
T%us .it% its increase in t%e e2isting (erformance in t%e u(coming 'ears.
Bancassurance 0as considered as unsoug%t good .%ic% re;uire %ard core se##ing, &ut in
c%anging trend in income and (eo(#e &ecoming financia##' #iterate, t%e demand for
insurance is increasing da' &' da'. So, it is t%e com(an' t%at first a((roac%es gets its s%are
of re.ard. :ro(er after sa#e ser!ice can %e#( t%e ad!isors to generate more &usiness.
Cradua##' (eo(#e are rea#iing t%e fact t%at insurance is not a necessar' e!i# &ut means to
attain .orr' free #ife.
5B ' P ( ) *

Bancassurance
11.BILIBOGRAPY
T%e fo##o.ing com(anies and association9s .e& sites .ere referred .%i#e co##ecting
information used in t%e researc%.
INTERNET SOURCE
5..;CQQGGG.5641+/,20(/1*.1-?
5..;CQQGGG.)--):*.1-.+/
5..;CQQGGG.G+=+;*6+(.-0)
5..;CQQGGG.?-/*E 1-/.0-:.1-?
5..;CQQGGG.:+1+/6+(.1-?
5..;CQQGGG.5641D(/=.1-?
5..;CQQGGG.+06(+/6+(.-0)
BOONSQMAGA!INES REFFERD
S.26E G2+6*- P0+/1+;:*, & P0(1.+1*, -4 L+4* I/,20(/1* BE AIMA.
B--=, P2D:+,5*6 BE INSURANCE INSTITUTE OF INDIA.
INSURANCE$ATCH.
MONEYOUTLOON.
55 ' P ( ) *

Bancassurance
SURVEY UESTIONNAIRE
JUESTIONNARIE FOR THE PURPOSE OF THE PROJECT ON HDFC
BANN IN BANCASSURANCE
N(?*C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
A)*C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
G*/6*0C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
O112;(.+-/C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
M(0+.(: ,.(.2,C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
N- -4 15+:60*/C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
A//2(: +/1-?*C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
A11-2/. 5-:6*0 -4 H641 D(/=C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
TE;* -4 (11-2/.C RRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
J1. P*0,-/(: A+*G, (D-2. +/,20(/1*
Insurance (ro!ides (rotection to 'ou and 'our fami#'
Insurance is an a&so#ute necessit' for an indi!idua#7fami#'
Insurance is one of t%e &est In!estment o(tions
J%. L+4* +/,20(/1* ;-:+1E 5-:6*0
YES
>@
J@. AG(0*/*,, (D-2. H641 ,.(/6(06 :+4* +/,20(/1*
YES
>@
JB. S-201* .- =/-G (D-2. H641 :+4* +/,20(/1*
456" Bank
$d!ertisement
6riends & Re#ati!es
@t%ers
>7$
J5. AG(0* -4 -D.(+/+/) H641 ,.(/6(06 :+4* ;-:+1E 40-? H641 D(/=M
5H ' P ( ) *

Bancassurance
YES
>@
JH. F(?+:+(0+.E G+.5 .5* ;-:+1+*, -44*0*6 DE H641 ,.(/6(06 :+4* +/,20(/1*
4ig%#' Satisfied
Satisfied
Moderate#' satisfied
5issatisfied
4ig%#' dissatisfied
J. I/+.+(.+A*, .(=*/ DE H641 D(/= .- ;0-?-.* H641 ,.(/6(06 :+4* +/,20(/1* ;0-621.,
5is(#a's regarding 456" Standard 3ife Insurance in 456" Bank
$d!ertisements7#inks etc., regarding 456" Standard 3ife Insurance in 456"Bank 0e& Site
456" Bank Em(#o'ees %a!e e2(#ained 'ou a&out t%e (o#icies of 456" standard #ife
insurance (t%roug% (%one ca##s7direct contact)
JF. S(.+,4(1.+-/ -4 12,.-?*0 ,*0A+1*,
4ig%#' Satisfied
Satisfied
Moderate#' satisfied
5issatisfied
4ig%#' dissatisfied
J&. F(1.-0, .5(. D2+:6 ( ,.0-/) 0*:(.+-/,5+; G+.5 12,.-?*0,
Re#ia&i#it'
Eas' and ad!antageous &anking o!er ot%er &anks
0ide range of :roducts and Sc%emes
Better understanding @f customer needs and (ro!ide e2(ert ad!ice
J10. H641 D(/= (, ( -/*-,5-; ,.-; 4-0 (:: 4+/(/1+(: /**6,S
Strong#' $gree
$gree
5 ' P ( ) *

Bancassurance
>eutra#
5isagree
Strong#' 5isagree
J11. R*(,-/, 4-0 .(=+/) ( :+4* +/,20(/1* ;-:+1E +/ .5* /*(0 42.20*
:ost retirement income
In!est in c%i#d9s dreams
Ci!e :rotection and safet' to t%e fami#' in case of unfortunate occurrences
Ta2 Benefits
Better returns in terms of in!estment
J1%. C5--,+/) H641 ,.(/6(06 :+4* +/,20(/1* .- .(=* ( ;-:+1E +/ 42.20*
YES
>@
5F ' P ( ) *