India is the largest democracy in the world having a population of more than one billion. It is 5th largest in the world in terms of purchasing power parity (PPP). Indian GDP growth rate is over 6 percent per year on average for the last decade and saving rate is around 26 percent of GDP. Through India's economic development, it becomes the

molucrative insurance markets in the world. Before the year 1999 there were monopoly of state run Life Insurance Corporation of India (LIC), in life insurance sector and General Insurance Corporation of India (GIC), with its four subsidiaries in general sector. In the wake of reform process and passing Insurance Regulatory Development Act (IRDA) through Indian Parliament in 1999, Indian Insurance was opened for private companies. What is Life Insurance Insurance is a contract between two parties whereby one party called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party happening of a certain event. Insurance is a protection against a financial loss arising on the happening of an unexpected event. Insurance Companies collect premium to provide for this protection. A loss is paid out of this premium collected from the insuring public. The Insurance Company act as a trustee to the




amount collected through premium. Insurance is generally classified in three main categories, 1. Life Insurance, 2. Health Insurance and 3. General Insurance. To get insurance an individual or an organization can approach to an insurance company directly, through Insurance Agent of the concerned company or through Intermediaries. Benefits of Insurance Insurance is the instrument of Security, saving and peace of mind. It provides several benefits by paying a small amount of premium to an insurance company. Life Insurance has come a long way from the earlier days when it was originally conceived as a risk-covering medium for short periods of time, covering temporary risk situations, such as sea voyages. As life insurance became more established, it was realized what a useful tool it was for a number of situations, including. Temporary needs or threats: The original purpose of life insurance remains an important element, namely providing for replacement of income on death etc.




Regular Savings: Providing for one's family and oneself, as a medium to long term exercise (through a series of regular payment of premiums). This has become more relevant in recent times as people seek financial independence for their family. Investment: Put simply, the building up of savings while safeguarding it from the ravages of inflation. Unlike regular saving products, investment products are traditionally lump sum investments, where the individual makes a one off payment. Retirement: Provision for later years becomes increasingly necessary, especially in a changing cultural and social environment. One can buy a suitable insurance policy, which will provide periodical payments in one's old age. All these events are fortuitous in nature they are out of the control of the family and more in the hands of the destiny. In order to reduce the aliments of risk existence of insurance is must. So the insurance ensures protection of economic value of assets or insured against the risk of being destroyed or made non functional due to any accidental occurrence. Insurance is used with reference to financial protection against a possibility of uncertainty such as fire accidental damages theft motor




insurance household insurance travel insurance health insurance.

Life insurance is needed because of human life is a income generating assets. This asset can be last through unexpected death or made nonfunctional through sickness or disability caused by an accident there is no certainty that the accident will happen one other hand there is a certainty that death will happen but it's timing is uncertain.




All the companies are merged into a single company called life insurance Corporation of India in the year M S R C A S C . Growth of Insurance in India In India insurance was started in 19th century before the passing the act of 1938 more then 50 companies participates in the insurance activities after passing an act 1938.C followed by Roman's and Greeks traders. conditions.INDUSTRY PROFILE The insurance was originated from the Babylonian civilization through the Code of Hammurabi dynasty in the year of 2100 B.MBA 5 Bangalore . Lloyd's coffees house insurance developed rapidly with the growth of international commerce. The first insurance company was established in London.C fire Insurance Corporation in New York city  1794 Philadelphian insurance company in Philadelphia  1840 first life insurance in Philadelphia  1897 workman's compensation act in Britain After 19th century several general companies and life insurance companies were formed with the several benefits. rules. The growth of insurance companies  1720-1735 formation of insurance companies in England  1787 S.

Life Insurance Corporation. Omkotak Mahindra. 6. SBI Life. TATA AIG. BIRLA sun life. Sahara Life M S R C A S C . act of 1999 this act regulate the insurance sector in India with the additional license to private sector companies with the deregulation of the insurance sector taking place several companies have entered into the Indian insurance market. 14. 4. 2. 13. Allianz Bajaj. 1.1999 the government of India passed new act called IRDA. 10. ICICI Prudential. AVIVA (Dauber CGU) life insurance. Reliance Life Insurance. MAX New York life. MetLife Insurance. 7. 9. HDFC standard life. 3. 12. 8.MBA 6 Bangalore . 5. 11. The following are the companies including the LIC. ING Vysya life.

further strengthening the relationship. In October 1998.COMPANY PROFILE INTRODUCATION HDFC standard life insurance company was started on 14th august 2000 and received a licence 23rd October 2000. It was clear from the outset that both companies shared similar values and beliefs and a strong relationship quickly formed. The next three years were filled with uncertainty. to enter the Life Insurance market. the joint venture agreement was renewed and additional resource made available. M S R C A S C . due to changes in government and ongoing delays in getting the IRDA (Insurance Regulatory and Development authority) Act passed in parliament. Around this time Standard Life purchased a 5% stake in HDFC. in January 1995. The Partnership: HDFC and Standard Life first came together for a possible joint venture. Despite this both companies remained firmly committed to the venture. In October 1995 the companies signed a 3-year joint venture agreement. (IDFC). Standard Life also started to use the services of the HDFC Treasury department to advise them upon their investments in India.MBA 7 Bangalore . Around this time Standard Life purchased 2% of Infrastructure Development Finance Company Ltd.

in January 2000. Therefore. Around this time Standard Life purchased a further 5% stake in HDFC and a 5% stake in HDFC Bank.MBA 8 Bangalore . M S R C A S C . the opening of the market looked very promising and both companies agreed the time was right to move the operation to the next level. On the 23rd of October 2000. an expert team from the UK joined a hand picked team from HDFC to form the core project team. In a further development Standard Life agreed to participate in the Asset Management Company promoted by HDFC to enter the mutual fund market. Incorporation of HDFC Standard Life Insurance Company Limited: The company was incorporated on 14th August 2000 under the name of HDFC Standard Life Insurance Company Limited. Our ambition from as far back as October 1995 was to be the first private company to re-enter the life insurance market in India.Towards the end of 1999. based in Mumbai. this ambition was realized when HDFC Standard Life was the only life company to be granted a certificate of registration. The Mutual Fund was launched on 20th July 2000.

Company Mission: The company aim to be the top new life insurance company in the market. M S R C A S C . with 81. Given Standard Life's existing investment in the HDFC Group.MBA 9 Bangalore .6%.  Professionalism in carrying out business. rather it is a combination of several things like.  Innovative products to cater to different needs of different customers. The ambition of HDFC Standard Life is to mirror the success of the parent companies and be the yardstick by which all other insurance companies in India are measured.  Customer service of the highest order. This does not just mean being the largest or the most productive company in the market. this is the maximum investment allowed under current regulations.  Use of technology to improve service standards. HDFC and Standard Life have a long and close relationship built upon shared values and trust.  Increasing market share.HDFC are the main shareholders in HDFC Standard Life.4%.  Value for money for customers. while Standard Life owns 18.

Corporate Office: HDFC Standard Life Insurance Company Delhi Office HDFC Standard Life Insurance Company Limited 2nd Floor. H 69 Outer circle. Tel: 56932666 Website -hdfcinsurance. M S R C A S C . IL&FS Financial Centre. Mumbai .LOCATION HDFC standard life insurance company limited operates its business through its Branches The HDFC Standard Life Insurance company holding their main Regional office in Mumbai.MBA 10 Bangalore . Canought place.400 051. New Delhi . Bandra (East). Plot C22 .G Block. Bandra Karla Complex.

Tel : 09350 5088 4575 Website – hdfcinsurance.MBA 11 Bangalore .com M S R C A S C .

M S R C A S C .MBA 12 Bangalore .

Following are the Some branch offices in India Branch Offices: Agra Ahmedabad Allahabad Amravati Asansol Bhubaneswar Calicut Chenna Delhi Faridabad Hyderabad Jaipur Kanpur Kolhapur Lucknow Mangalore Mumbai Nagpur Patiala Pondicherry Rajkot Surat Trivandram Ajmer Ambala Amritsar Bangalore Bhopal Chandigarh Coimbatore Durgapur gaziabad Indore Jalandhar Kochi Kolkata Manjery Madurai Mysore Nashik Patiala Pune Salem Thane Vadodara M S R C A S C .MBA 13 Bangalore .

the National Housing Policy has envisaged an investment target of Rs. In order to achieve this investment target. According to the National Building Organization (NBO).Vijayawada Vishakapatnam GROUP OF COMPANIES: A. HDFC HOME FINANCE LTD.MBA 14 Bangalore .500 billion for this sector. Having identified housing as a priority area in the Ninth Five Year Plan (1997-2002).64 million units from urban areas. The housing industry is the second largest employment generator in the country. M S R C A S C . 1. the demand for housing has grown explosively. Housing Finance Sector Against the milieu of rapid urbanization and a changing socioeconomic scenario. It is estimated that the budgeted 2 million units would lead to the creation of an additional 10 million man-years of direct employment and another 15 million man-years of indirect employment.4 million units. the total demand for housing is estimated at 2 million units per year and the total housing shortfall is estimated to be 19. of which 12. The importance of the housing sector in the economy can be illustrated by a few key statistics.76 million units is from rural areas and 6. the Government needs to make low cost funds easily available and enforce legal and regulatory reform.

b) Maintain its position as the premier housing finance institution in the country. d) Provide consistently high returns to shareholders. HDFC was promoted with an al share capital of Rs. c) Transform ideas into viable and creative solutions. 100 million. and to promote home ownership.Background HDFC was incorporated in 1977 with the primary objective of meeting a social need . Another objective is to •ease the flow of resources to the housing sector by integrating the housing finance sector with the overall domestic financial markets.MBA 15 Bangalore .. and e) To grow through diversification by leveraging off the existing client base. M S R C A S C .that of promoting home ownership by providing long-term finance to households for their housing needs. Organizational Goals HDFC's main goals are to a) Develop close relationships with individual households. Business Objectives The primary objective of HDFC is to enhance residential housing stock he country through the provision of housing finance in a systematic and professional manner.

MBA 16 Bangalore .M S R C A S C .

for the large part.. the company behind this site. bringing together the "clicks world" and the "bricks world" in a revolutionary and user-friendly way. efficient service to the real estate customer. HDFC has since emerged as the largest residential mortgage finance institution in the country.B. For property anywhere in is HDFC new. transparent. HDFCrealty.MBA 17 Bangalore . property markets it is still highly fragmented and M S R C A S C . HDFCrealty. For customers anywhere in the world HDFCrealty. has been formed by Housing Development Finance Corporation Limited (HDFC). comparative analyses. It acts as a one-stop online hub for brings together India's most exhaustive database of properties. HDFC REALITY LTD. transactions. Making available the best guidance and the most professional. HDFC is India's largest Housing Finance company is an expert on the housing We provide the entire gamut of real estate services. HDFC Reality The property market in India abounds with possibilities and potential . market reach and comprehensive professional services. disorganized. organized electronic marketplace for properties.

5 million dwelling units n loan approvals and disbursements amounting to Rs. one that will help you get the most out of your money. HDFC securities. will equip you with the necessary tools to allocate. and also support it with the highest standards of service. select and manage your investments wisely. Back C. HDFC securities mission is to provide our customers with the most useful investment guidance and investment-related services available in the country.MBA 18 Bangalore . M S R C A S C . 3 billion respectively. HDFC has a strong retail orientation with high quality customer vice being the driving force for its activities. 225 billion and Rs. This expertise and service orientation has developed and strengthened over the last 22 years. Today 'FC has an office network of 63 offices all over the country and an overseas office in Dubai. HDFC has financed over 1. convenience and hassle-free trading tools. HDFC SECURITIES HDFC securities is a brand brought to you by HDFC Securities Ltd.and the real estate business. which has been promoted by the HDFC Bank & HDFC with the objective of providing the diverse customer base of the HDFC Group and other investors a capability to transact in the Stock Exchanges & other financial market transactions. We want to become a one-stop solution for all your investment needs.

Arbitrage between NSE & BSE 3. Buying and selling of select corporate debt and government securities on the NSE would be introduced in a subsequent phase. Futures & Options 4.Buying and selling of shares on the BSE 2. Margin trading products. Derivatives. In a few months. In the first phase our services will comprise buying and selling of equity shares on the National Stock Exchange (NSE). Mumbai (BSE) is ready. when the Internet trading module from The Stock Exchange. we will also offer the following services on the BSE and NSE: 1 . M S R C A S C .MBA 19 Bangalore .What company does HDFC securities are introducing a transparent and convenient investment execution facility for the investor community.

depositors.FUTURE OF HDFC HDFC has always been market-oriented and dynamic with respect to resource mobilization as well as its tending Programme. facilities and service. Each institution is being fine-tuned for a specific market. and it hopes to capitalize on this loyal and satisfied client base for future growth. M S R C A S C . to take into account changes in the volatile external environment. This renders it more than capable to meet the new challenges that have emerged. while offering the entire HDFC customer base the highest standards of quality in product design. HDFC has developed a network of institutions through partnerships with some of the best institutions in the world. for providing specialized financial services.MBA 20 Bangalore . shareholders and agents. Over the years. Internal systems have been developed to be robust and agile. HDFC has developed a vast client base of borrowers.

Product Profile Individual Products Each of us leads a unique life and so has unique needs. The Money Back can M S R C A S C . With Profits Endowment Assurance: This policy provides a combination of saving and life insurance. On survival to maturity. you will get the sum assured plus any bonuses less the regular payments already made. The customer commitment is to pay a level premium regularly throughout the life of the policy. Your commitment is to pay a level premium regularly throughout the life of the policy. The Endowment Assurance can be customized to meet your needs by adding any combination of up to_4 rider benefits. HDFC Standard Life offers a range of products and invites you to choose the one that suits you best. With Profits Money Back: This policy provides a combination of savings. a proportion of the sum assured will be paid at regular intervals. The sum assured plus any bonuses will be payable at the end of the term or on death if earlier. Over the course of the contract. The sum assured plus any bonuses will be payable on death before the end of the contract.MBA 21 Bangalore . regular cash payments and life insurance.

The lump sum will be a decreasing percentage of the initial sum assured. It is an affordable plan that has been designed to help your family repay the outstanding loan in case of your unfortunate death on this product. The Term Assurance Plan can also be customized to suit your needs by adding optional rider benefits Loan Cover Term Assurance: The Loan Cover Term Assurance plan provides a lump sum on death of the life assured during the term of the plan.MBA 22 Bangalore . with an option to take the lump sum elsewhere to buy the annuity.also be customized to meet your needs by adding any combination of up to 4 rider benefits. Personal Pension Plan The Personal Pension Plan is basically a savings contract. a sum assured is payable in case of death of the life assured during the term of the contract. which is designed to provide an income for life from retirement. Term Assurance Plan: Under the Term Assurance plan. Your commitment is to pay a single premium or level premiums with installments due every quarter. One can choose the lump sum that would replace the income lost to one's family in the unfortunate event of one's death. The Term Assurance Plan comes to you at a minimal cost and is well suited for the value-conscious customer. half-year M S R C A S C . provided it is permitted by the prevailing regulations.

for every loving parent.or year throughout the deferment period of the policy. and above all. To help you save for your child. other relatives or any adult for the benefit of a child can also choose the plan. This plan is well suited for the value-conscious customer. enables you to realize your dreams for your child. customized to your needs. M S R C A S C . and above all. Grandparents.MBA 23 Bangalore . we at HDFC Standard Life present the plan is affordable. Children's Plan The future of your child is most important to you. after which you will start receiving your pension. You need to plan today to ensure a bright future for your child. whether it is education. marriage or establishing a professional career.


MBA 25 Bangalore .M S R C A S C .

R Operation GM Underwriting Operation & Underwriting Sale and Marketing Organizational Structure MD & CEO Account Medical Zonal Manager Actuarial Zonal Manager M S R C A S C .MBA 26 Bangalore .Channel Distribution Institutional Sale Marketing Retail HOD South Sale North Sale Training IT HOD Legal & Secretarial G M Finance & Actuarial HOD H.


Maintenance of office in healthy environment.  Call upon weekly meeting to every Business Development Managers.  Implementing new techniques adopting in an marketing.  Verification of progress of the BDM's. Take over the full in charge of the department of administration.DUTIES AND RESPONSIBILITIES BRANCH MANAGER:  Overall management of the branch. Managing the affairs of manager during his absence.MBA 28 Bangalore .   Weekly report to the head office. M S R C A S C . Identification of training needs to staff and Business development managers. DEPUTY BRANCH MANAGER. 1) 2) 3) Assisting manager in day-to-day operations.  Achieving target given by the General Manager in head office.  Follow the principles of life insurance.   Looking after preventive maintenance planning activities.

MBA 29 Bangalore . M S R C A S C . Day-to-day verification of login policies and proposed policies.4) 5) Execution of work as per the rules given by the head office.

MBA 30 Bangalore . To keep the human power happy and content the most important objective of every management in order to meet this objective. Managing its people is the most important aspect of managing an organization. management must design and implement a set of policies procedures and practices absolute. development officer in the every branch office in all over the India M S R C A S C .HUMAN RESOURCE DEPARTMENT The primal resource of an organization is the people. For the purpose of the efficient running of business the HDFC standard life insurance company limited. Scope of personnel management has also increased considerably in recent years.R. Some of the reasons are as follows:  External influences  Changes in expectations  Changes in technology  Intense competition  Gaining of additional knowledge No longer is manpower just one of the resources in business organizations. holding separate manager/officer called H. It is the most important of all resources this is because manpower is that resource through which management wants to direct control all the other resources.

Recognition of work. Carrier and self-development of employees & Consultants M S R C A S C . The group of HDFC offers you not merely a job but an opportunity to fulfill your long term carrier plans. 1) 2) 3) 4) 5) 6) Peace among employees in the office. In the same way the HDFC Standard Life Insurance as an aim to get the award given by International Standard Organization with in one year in the field of service and management. Better Co-ordination in the working environment.MBA 31 Bangalore . Specifically the HDFC Standard Life Insurance offers: 1) 2) 3) 4) 5) An unlimited choice of opening. The main objectives of Human Resource department in HDFC Standard Life Insurance Company Ltd. Motivational activities.Human Resource and Human Resource Management have always been key factor in the group success. Executing global carrier opportunities. Sense of belongingness. The resource to back to your ideas and upgrade your skills. Challenges aplenty and the chance to make good earnings. Training schemes.

but base your judgment on the entire period under review. Instructions to the Appraiser Try to be as objective as possible in your rating. as you perceived it. Normally. Do not evaluate on the basis of isolated incidents. Write the appraisal legibly and briefly. Instructions to the appraise. Please do not allow any personal prejudices to color in the rating of your executives.EXECUTIVE PERFORMANCE APPRAISAL AT HDFC STANDARD LIFE. The form must be filled with care and thoroughness giving emphasis o the key aspects of the job. It gives you (the appraise) an opportunity to present a record of your performance for the year. You are required to indicate clearly the record of our job performance during the year. you must submit the duly completed selfappraisal with a covering note to your Reporting officer latest by 15th April of the following year.MBA 32 Bangalore . Self-appraisal is a very important part of the executive appraisal system in the company. In case you have used the significant M S R C A S C . the executive appraisal is for the financial year-April 1st to March 31st. Please write only what you had achieved. Therefore.

it could be a great help to you in judging the performance of your subordinates during the entire period of review. SCOPE OF PERFORMANCE APPRAISAL The people in an organization have an upper hand in deciding the fate of organization by achieving the objectives. While writing the report.incidents sheet. one item/factor at a time should be considered and weighed only in relation to the requirement of the job and level of the appraise. grades and equivalent marks Outstanding performance Very good Good Average Below Average Poor A B C D E F 91 & above 81-90 71-80 61-70 51-60 Below 50. For the realization of these goals there should be step-by-step planning and performance by the human force of an organization. As we perform. we perceive our mission better ad related goals get more closely and easily defined. In this sense.MBA 33 Bangalore . M S R C A S C . our performance keeps changing with every step forward. the yardstick for measuring. Performance categorization. true performance ties in achieving a vision.

M S R C A S C . HDFC follows a mixture of different appraisal techniques. But easy sixth year promotion.METHOD.MBA 34 Bangalore . This helps in training for the appraisal. The organization maintains 2 different booklets for two categories of executives. Every assessment years records are taken into considerations in order to implement the above mentioned actions. The performance appraisal system of HDFC contains an executive appraisal of 6 different parts involving employees. skills etc of work force. It is done every year with the object of increasing ability. It is conducted annually and the time duration starts from 1st April and to 31st March. efficiency. reporting officer. wing officer. Through this unique method the organization is able to have complete and necessary details of employees. job rotation and necessary actions are taken place. In addition there is a provision for the HRD officer to make rtes/recommendations based on the outcome of above parts. In order to overcome the problems of appraisal techniques and to run the appraisal system successfully. clear and complete performance appraisal system. TECHNIQUES OR TOOLS USED BY HDFC HDFC Standard Life Private Limited has taken keen interest for the development of correct. transfers.

MBA 35 Bangalore . M S R C A S C .CFC BDM’S MARKETING DEPARTMENT BDM’S BDM’S CHIEF MARKETING MANAGER CFC BDM’S BDM’S MARKETING DEPARTMENT HDFC's Life Insurance products are not a marketing products but it is cover under the marketing department. It is an service given by the HDFC group to the public in the way of assurance of life of the people who are insured. The marketing of products of life insurance holds line and staff organizational structure. In the realistic manner the product selling is a type of service given to the public.

9) Go along with the financial consultants when ever appointment with the proposed clients when the financial consultants in not able to convince. 10)Recording the day-to-day log inn policies from financial consultants. 8) Flow of commission as per the norms with their respective policies. 2) Doing part of the tarter plan given by branch manager. 5) Putting effort on taking policies from his financial consultants. 6) Motivational and Morale support to financial consultants. M S R C A S C . 3) Day-to-Day verification of login policies. 2) Execution of work. 4) Identification of training needs to financial consultants. 7) Day to day interaction between financial consultants. 5) Fulfill the training needs to BDM'S and his financial consultants.CHIEF MARKETING MANAGER 1) Managing the affairs of BDM'S. 3) Maintaining separate group of financial consultants. BUSINESS DEVELOPMENT MANAGER'S 1) Holding of several financial consultants in hand. 4) Implementing new techniques. 6) Rewarding the best achiever.MBA 36 Bangalore . 7) Maintain co-ordination between the BDM'S.

MBA 37 Bangalore . The cost for the short-term policies are deferent from long-term policies. dealing their business through financial consultants.2006. Commission payable to the consultants The Company has decided to review the commission rates with effect from 1. Financial consultants are the real assets of the HDFC Standard Life Insurance Company Ltd in which financial consultants have separate corner for doing business with proposed clients.11. Financial consultants are got license from the IRDA through their online examination conducted in training centers. hence the consultant would henceforth be paid commission at a rate.2006. M S R C A S C . This note details the changes in the commission rates payable to individual financial consultants with erect from 1.11.FINANCIAL CONSULTANTS The HDFC Standard Life Insurance Company Ltd. which differs as per the tenor of the policy. The company has been offering first year commission at a uniform rate across all tenors.

linked to production levels. The following are the details of the commission structure and NEP thresholds with effect from 1. It has now been decided to pay performance based bonus commission.2006 and are valid till 30th June 2007 M S R C A S C .2006.MBA 38 Bangalore . This decision was taken in view of the fact the financial consultants were new and required some time to understand the life insurance business.The company has not been differentiating between the basic commission and the bonus commission so far.11. to the consultants with effect 1.11.

Name of the Plan Endowment Assurance Plan Money Back Plan Children's Plan Term Assurance Plan Personal Pension Plan Basic commission as a percentage of 25% 25% 25% 20% 7.5% Premium received.MBA 39 Bangalore .Basic First Year Commission a) Basic First Year Commission payable on regular premium policies issued with a premium paying term of 15 years and above.5% First Year Premium received Loan Cover Term Assurance Plan 20% b) Basic First Year Commission payable on regular premium policies issued with a premium paying term of less than 15 years Name of the Plan Basic commission of first as a Year Percentage Endowment Assurance Plan Money Back Plan Children's Plan Term Assurance Plan Loan Cover Term Assurance Plan Personal Pension Plan 20% 20% 20% 15% 15% 7. M S R C A S C .

In case the policy is cancelled in the first three policy anniversary years or the policyholder exercises the option to withdraw the policy in the look in period or the benefits under the policy are reduced. the same would be reclaimed. would not be payable and if paid. M S R C A S C .MBA 40 Bangalore .c) Basic Commission payable on single premium policies irrespective of the premium paying term Name of the Plan Basic Commission as a percentage of Single received Single Premium Whole of Life Insurance Plan 2% Term Assurance Plan Loan Cover Term Assurance Plan Personal Pension Plan 2% 2% 2% Premium Basic Commission would be payable on the actual amount received and adjusted towards first year premium on regular premium policies and single premium policies by the company. some or all of the basic an bonus commission. as applicable.

000 TOTAL CONCEPT: This table is designed to know the income level of respondents.000.000 Above 20.000. This shows average level of income earning peoples are know the insurance policies. INTERPRETATION: From the above table it is inferred that most of the respondents fall in the income level of 5000 to 10.MBA 41 Bangalore . OF RESPONDENTS 10 40 30 20 100 PERCENTAGE 10% 40% 30% 20% 100% M S R C A S C . their NO. ANALYSIS: From the above table it show that 10% of the response fall in the group of below 5000.000 10.000. 30% of the respondents are falls in the level 10. And 20% of the respondents in the category above 20.PERFORMANCE OF THE COMPANY TABLE-1 TABLE SHOWING THE MONTHLY INCOME OF THE RESPONDENTS INCOME Below 5000 5000-10.40% of the respondents falls in the group of 5000 to 10.000.00 to 20.000-20.

and future thinking about the saving. M S R C A S C .MBA 42 Bangalore .saving plans.

00020.000 Abov e 20.MBA 43 Bangalore .000 10.10.000 10 30 20 M S R C A S C .GRAPH-1 GRAPH SHOWS THE MONTHLY INCOME OF THE RESPONDENTS 40 40 30 20 10 0 Below 5000 5000.

INTERPRETATION: From the above table it can be identified that more than 50% of the respondents choose the governments sector. security of the savings. of the respondents are positively preferred private sector companies and 25% of the respondents are chosen the both the government sector and private sector. most of the respondents positively PERCENTAGE 50% 25% 25% 100% M S R C A S C . OF RESPONDENTS 50 25 25 100 CONCEPT: This table aims at the clear picture about the preference in buying an insurance requirement. because mainly thing is safety.TABLE-2 TABLE SHOWING THE PREFERENCE IN BUYING AN INSURANCE REQUIREMENT SECTORS GOVT SECTOR PRIVATE SECTOR BOTH TOTAL NO.MBA 44 Bangalore . ANALYSIS: 50% of the respondents are mainly preferred government sector only 25%.

opted to governments sector only.MBA 45 Bangalore . M S R C A S C .


TABLE -3 TABLE SHOWS RESPONDENTS CONSIDERATION WHILE TAKING INSURANCE FATORS INFLUENCE Tax benefits Service Contingency planning Policy matter Others TOTAL CONCEPT: This table target that what respondents consider while taking a life insurance ANALYSIS: From the above table 25% of the respontants consider tax benefits has a main thing while taking an insurance.MBA 47 Bangalore NO. policy maker and others. rest of that respondents according to their mind set while taking an insurance. M S R C A S C . rest of that respondents consider service. INTERPRETATION: From the above table shows that majority of the respondents are influenced to take the insurance is tax benefits and Contingency planning. OF RESPONDENTS 25 10 35 5 25 100 PERCENTAGE 25% 10% 35% 5% 25% 100% . 35% of the respondents consider Contingency planning as main thing.


OF RESPONDENTS 42 28 18 12 100 PERCENTAGE 42% 28% 18% 12% 100% CONCEPT: This table is designed to know the what criteria while taking an insurance from the companies. ANAYLYSIS: M S R C A S C .MBA 49 Bangalore .TABLE-4 ABLE SHOWING CRITERIA WHILE TAKING INSURANCE 35 35 30 25 20 15 10 5 0 Tax benefits Service Contingency planning P olicy matter Others 25 25 10 5 FROM THE COMPANIES CRITERIA WHILE TAKING Safety & Security Service Transparency Others TOTAL NO.

M S R C A S C . INTERPRETATION: From the above table it is inferred that majority of the people seek safety and security of their funds invested in the companies through life insurance and rest of the respondents looking forward companies services transparency and others.28% of the respondents are falls in the level of service followed by transparency covers 18% and others covered rest of the 12%.From the above table it is seen that the more than 42% of the respondents fall in the safety and security category .MBA 50 Bangalore .


45 40 35 30 25 20 15 10 5 0

42 28 18 12

Safety & Sec urity

Ser vice

Transpar ency


TABLE-5 TABLE SHOWING THE NUMBER OF PEOPLE INSURED BY WORKING INSURANCE SECTOR AMOUNT OF INSURED Below 50,000 50,001-1,00,0000 1,00,000-2.50,000 Above 2,50.000 TOTAL CONCEPT: This table designed to know the expected amount of insured by respondents. ANALYSIS:
M S R C A S C - MBA 52 Bangalore

NO. OF RESPONDENTS 05 26 60 09 100

PERCENTAGE 05% 26% 60% 09% 100%

From the above analysis it is seen that most of the workig people insured against life insurance on our own life and their family covered 1,00,000 to 2,50,000 own 60%of the responsiveness, rest of the 26% respondents covered under 50,001 to 1,00,000 followed other 14% covered under below 50,000 and above 2,50,000. INTERPRETATION: It can be inferred that working people looking forward on the basis of their salary level they got a life insurance amount of 1,00,000 to 2,50,000. With this we can interpret that 60% of the people opting to go for at their income level.










5 26

Below 50,000 50,001-1,00,0000 1,00,000-2.50,000 Above 2,50.000



PERCENTAGE 50% 50% 100%

This table shows how many respondents know about HDFC'S standard life insurance company. ANALYSIS: From the above table it is identified that 50% of the total respondents know about HDFC. Remaining 50% does not know




about HDFC life insurance. INTERPRETATION: From the above analyses it can be inferred that 50 % of the respondents does not know about HDFC standard life insurance company. It means they have to work more on the advertising part. GRAPH-6 GRAPH SHOWS NUMBER OF RESPONDENTS KNOW THE HDFC (SL) Error: Reference source not found M S R C A S C .MBA 56 Bangalore .

33% 16. OF RESPONDENTS 20 22 8 10 60 PERCENTAGE 33.33% 36. TO KNOW HDFC (SL) Financial consultants Friends. relatives Media Others TOTAL CONCEPT: This table designed to know the expected respondents how to know the HDFC standard life insurance company. INTERPRETATION: most of the people gathered to know the HDFC standard life insurance M S R C A S C .TABLE – 7 THE TABLE SHOWS THE HOW TO KNOW HDFC STANDARD LIFE INSURANCE COPMPANY. colligues. ANALYSIS: From the above table it is seen that following information given by financial consultants an average of 33% followed by friends.67% 13. and relatives by 36% and followed by media 14% rest of the 16% gathered through others.MBA 57 Bangalore NO.67% 100% . colligues.

relatives an average of more than 70%. colligues. GRAPH-7 GRAPH SHOWS THE HOW TO KNOW HDFC STANDARD LIFE INSURANCE COMPANY 25 20 15 10 5 0 20 22 8 10 Financial consultants Friends. From this table it can be identified that part of the media is comparatively very less. relatives Media Others M S R C A S C .MBA 58 Bangalore . through financial consultants and friends.

RATE Good Satisfactory Excellent TOTAL CONCEPT: This table is designed to know about the rating of HDFC standard life insurance company. OF RESPONDENTS 30 20 10 60 PERCENTAGE 50% 33.MBA 59 Bangalore . rest of the 17% of the response is excellent.33% 16.TABLE-8 TABLE SHOWING RATING OF THE COMPANY. NO.67% 100% M S R C A S C . INTERPRETATION: It is interpreted that majority of the respondents are satisfied with their companies performance of the life insurance and they rated as below. ANALYSIS: It can be analyzed 50% of the respondents response is good and 33% of the response is satisfactory.


MBA 61 Bangalore .7.1 SWOT ANALYSIS Strengths 17 50 33 GOOD SATISFACTORY EXCELLENT  Money value for customers  Customer service of the highest order  Use of technology to improve service standards  Increasing market share  Professionalism in carrying out business  Innovative products to cater to different needs of different customer  Trust and security among the best  Over 30000 consultant in India Weakness M S R C A S C .

MBA 62 Bangalore . Less number of branches  Low volume of financial consultants  Effectiveness of organizational health study  Insurance is still considered as tax saving device rather Than protection  relationship  Difficult to change position of the employee  High volume of attrition rate M S R C A S C .

achievers and identification of fast track financial consultants and employees  Recognizing the different needs of customers Threats  Lowering of interest rate to policy holders  Lowering of bonus on the occasion of maturity of policies  Cut throat competition due to more number of other insurance  companies  IRDA policies towards life insurance  Increase in cost due to competition  Lack of customer satisfaction level reduced because of competitors policies M S R C A S C .Opportunities  Easy availability of manpower for vacant positions specifically in marketing  only 5% of the Indians having life insurance  Improvement in sales after service  Chance to improve more beneficial products  Encouragement for young financial consultants.MBA 63 Bangalore .

MBA 64 Bangalore . Mission. Goals and objectives of the firm Company vision • Financial strength • Recognitions • Establishments • Location • Service backup • Collaborations Company mission Company mission is to be the best new life insurance company in India and these are the values that will guide us in that Company Objecties • To deliver value for our customer • Better investment opportunities • Well being of the society.Vision. • Value for money for customers. • Customer service of the highest order. • Professionalism in carrying out business. • Innovative products to cater to different needs of different M S R C A S C .

customers. • Use of technology to improve service standards. • Increasing market share M S R C A S C .MBA 65 Bangalore .

they published their 7s Model in their article “structure is not organization” and in their books “The Art of Japanese Management” and “In Search of Excellence”. This is because the two persons who developed this model. at that time. Tom peters and Robert waterman.McKensy’s 7S MODEL.MBA 66 Bangalore . The 7s model is better known as McKensey 7s. The model stars on the premises that an organization is not just structure but consist of seven elements: M S R C A S C . have been consultants at McKensey &Co.

trained. through to the systems at the point of contact with the customer (retail systems. Ultimately they guide employees towards 'valued' behavior. etc). Staff: The company's people resources and how they are developed. reporting lines. Structure: The basic organization of the company. What it does best. Style: The leadership approach of top management and the company's M S R C A S C . Systems: Formal and informal procedures that govern everyday activity. more cultural in nature.MBA 67 Bangalore . covering everything from management information systems. and motivated. Shared values: The values and beliefs of the company. online systems.The 3Ss across the top of the model are described as 'Hard Ss': Strategy: The direction and scope of the company over the long term. and responsibility (and how they interrelate). call centre systems. and were termed 'Soft Ss' by McKinsey: Skills: The capabilities and competencies that exist within the company. its departments. The 4Ss across the bottom of the model are less tangible. areas of expertise.

Structure and System.overall operating approach. Strategy. For example. The soft factors can make or break a successful change process. They are less for the soft S’s. and finally characteristics competencies of the organization. and style. Staff and Style and Shared Values. These problems often come up in the dissatisfying result of spectacular mage-mergers. which make it difficult to establish effective common systems and structures. since new structure and strategies are difficult to build upon inappropriate culture and values. Effective organization achieves a fir between these elements this criterion is the origin of the name of the model: Diagnostic Model for Organizational Effectiveness. that most successful companies work hard at these soft S’s. In change processes. The lack of success and synergies in such mergers is often based in a clash of completely different culture. processes. A helpful application is to determine M S R C A S C . many organizations focus their efforts on the hard S’s. values. If one element changes then this will affect all others.MBA 68 Bangalore . Peters and Waterman in “In Search of Excellence” commented however. a change in HR-system like internal career plans and management training will have an impact on organizational culture (management style) and thus affect structures. The 7s Model is a valuable tool to initiate change process and to them direction. Skills.

In a typical pattern.MBA 69 Bangalore . Providing satisfactory services to customers Strategy regarding A. Increase Clients satisfaction 4.the current state of each element and to compare this with the ideal state. and the functional strategies. Quality Quality of service is reliable M S R C A S C . STRATEGY: Strategy sets out vision. This spells out a broad frame work to guide managers at a level in all functions in their specific short term objectives. These set out the picture of the organization in the future. Based in this it is possible to develop action plans to achieve the intended state. major action plans and policies of the entire enterprise. Identifying Customer needs. mission. Maintaining superior quality of services 5. objectives. the SBU strategy. These days. 2. it spells out the overall organization strategy. Developing new type services 3. it is advised to commit mission in writing so that senior management can consult them whenever in doubt or incase there are difference of opinion Strategy of HDFC Standard Life Insurance Following are the strategies of HDFC Standard Life Insurance 1.

 Human Resource Department The primal resource of an organization is the people. Scope of personnel management has also increased considerably in recent M S R C A S C . Premium Charges low premium compared with other company C. The structure provides the frame work for relationship among different parts of the organization. their respective roles. rules and regulations for carrying out different tasks etc. Communication Always be in contact with client’s requirements.MBA Bangalore 70 . mode of communication among members.Very less complaint from customers B.If the organizational structure is not properly defined. Introducing new schemes in communication STRUCTURE: The most important resource of organization is its people. how they are organized is crucial to its functioning and accomplishing successful implementation of its strategy. The structure sets out formal reporting relationships. Structure of HDFC Various departments of the company are given below. Managing its people is the most important aspect of managing an organization. it has detrimental effect of the effective and efficient working.

In the realistic manner the product selling is a type of service given to the public. holding separate manager/officer called H. there will be Business Development managers to assist Chief Marketing Manager.  Finance and Accounts Departments Finance is the life blood of every business organization . a business cannot run successfully. It is an service given by the HDFC group to the public in the way of assurance of life of the people who are insured. A systematic record of the daily events of a business concern.years. For the purpose of the efficient running of business the HDFC standard life insurance company limited.MBA 71 Bangalore . M S R C A S C .  Marketing Department HDFC's Life Insurance products are not a marketing products but it is cover under the marketing department.R. development officer in the every branch office in all over the India. Business house must necessarily keep a systematic record of financial transactions. The marketing of products of life insurance holds line and staff organizational structure The marketing department is headed by Chief Marketing Manager. In every branch.Without money.

quality. In Kerala. the finance and account section are dealt by the Head office at each Zone. All accounts are managed in this zonal office. SYSTEM A system is defined process or a set of processes. Systems in HDFC Standard Life Insurance Computers are so versatile that they have become indispensable to administration and other official procedures. They can strengthen man’s power in numerical computation and information processing there by increasing the effectiveness of organization. Speed 2. the nature of business and so on.presentation of its complete financial picture is known as accounting In HDFC. These factors include the size of the organization. Some of the characteristics of computer are: 1. These systems are very significant and should be chosen carefully as they determine the speed. accuracy and efficiency of the different activities that are carried out on a daily basis. Every branch is lead by this head office. The system in an organization are chosen considering different factors. that links and orders activities to enable work to be done and goals to be achieved. accuracy M S R C A S C .MBA 72 Bangalore . Al transactions in the every branch in this zone are accounted here. it is in Kochi. There is no separate department in every branch for dealing accounts.

a) Management Information System: A separate software is using in each branch to account all transactions and to generate all those information needed by the management. versatility 5.3.MBA 73 Bangalore . consistency 4. facing the challenges. Recruitment. Diligence. The details of all customers are entered in to this system. training are done in a systematic manner. STYLE Using the word” STYLE” in the context of an organization refers to the leadership path chosen to lead the employees and the organization as a whole. Style of HDFC Standard Life Insurance HDFC Standard Life Insurance is using a participative M S R C A S C . growth of the organization etc. The systems followed by the company are given below. selection. b) Human Resource Information system It is computer based system followed in HDFC Standard life Insurance to maintain a better human resource. The organization strongly believes that development is a process and not an event. The leadership style of an organization is the approach of top management towards the employees.

The employees at the low level are given equal importance and they are to be motivated by the managers also. The distinctive capabilities and competencies that reside in the organization. It is also the capacity of doing or performing something individually. practical ability or facility in an action or doing something. knowledge. understanding and judgment to accomplish a of management. SKILLS: A skill is the ability. M S R C A S C . Skills refer to expertness. Skill of HDFC Standard Life Insurance SKILLS OF MANAGERS Every Manager in the organization has sound knowledge of their own functional fields to provide proper instruction and guidance to subordinates LEVEL SKILL OF MIDDLE MANAGEMENT They have creative and integrative skills of leadership and motivating skills SKILLS OF TOP LEVEL MANAGEMENT Top-level management has the skill relating balancing.MBA 74 Bangalore . or in a group so as to attain some pre-determined goals. independendly. Skills may be defined as what the company does best.

Deputy branch manager. appraising. financial SHARED VALUE: Shared values are what engender trust. office staff. inventorying the people available . Values are the identity by which a company is known Throughout its business areas. Staff recruitment is done by the management and they are given off the job training. setting and developing standards and leading. This is done by identifying workforce requirements. planning the carriers of compensating and training or otherwise developing both candidates and current job holders so that task are accomplished effectively and efficiently. Staffs in the branch includes Branch manager. manager.integrating. These M S R C A S C . and recruiting. promoting. Staff of HDFC Standard Life Insurance HDFC Standard Life Insurance got a huge manpower within the organization right from the lower level to top level management. placing. business development officers. STAFF: Staffing may be defined as filling and keeping filled the positions in the organization structure. selecting. Chief marketing consultants. human resource development officer.MBA 75 Bangalore .

Has the product are giving texts benefits contingents plans. The company belie in the best service to the customers FINDINGS 1. Need based selling policy M S R C A S C . Some people are interested to take the insurance product.values must be explicitly stated as both corporate objectives and individual values. A shared value is an essential characteristic or attribute promoted by the organization to motivate the behavior of members of the organization.MBA 76 Bangalore . company providing good service to customers 4. 2 40%of the customers are interested in taking high risk investment in insurance 3. customers are benefited through unit linked plans 6. 5. Like customer intimacy Commitment to results Shared value of HDFC Standard life Insurance Maximum satisfaction to customers is the main shared values of the HDFC Standard Life Insurance. 1 It was found that most of the customers are professionals as well as salaried people 2.

CONCLUSION Since the incorporation of HDFC Standard life in the year 2000. more importance to customer safety and security SUGGESTIONS 1 2 3 4 5 6 Provide more and more training to employees and financial consultants introduce new life insurance product open more and more branches as according to the growth of business increase financial consultant commission and incentives increase sales promotional activities and advertisement The company can use latest advertisement media like Tv. Manjeri branch has become an integral part of the joint venture between HDFC and Europe based life insurance papper etc. HDFC Standard Life is the top most insurance company in the service industry HDFC Standard life doing lot of work to sustain in the national insurance market. Radio . Customer’s M S R C A S C .MBA 77 Bangalore ..7. because of the keen competition. which has a history of more than 200 years in the insurance industry.

service is the word for the company to develop itself. Trust and security among the best. To serve the Indian market through insurance. 3. 5. 2. 4. They are as under. Professionalism in carrying out business. which are very much essential in today's market. With the work force consisting of more than 15000 employees along with around 30000 financial consultants in all over India . in the competitive market with the word of "Survival is the fittest". Value for money to customers. Adopting IRDA (Insurance Regulatory and Development Authority of India) rules and regulations regarding the service in insurance industry. Company is trying to hard to sustain in the global market. In 2005 Company got a certificate from BUSINESS WORLD Magazine for most respected privet insurance company “RESPECT YOUR SELF” With all these analysis we can conclude that company is trying to M S R C A S C . Customer service is the top most priority. The company is very much concerned about customer service and security. This has made the company well ahead in the race with their competitors. 1.MBA 78 Bangalore . the company adopted some new techniques and policies.

So applying latest possible service manuals and methods in their customer satisfaction.develop and grow itself in the insurance industry because whoever stay in this market he is the winner.and compay main aim to become NO: 1 Life Insurance company within 2008 M S R C A S C .MBA 79 Bangalore .

BIBILOGRAPHY  Text Books  Organizational Behaviour M S R C A S C .C B Mamoria  Insurance in India .MBA 80 Bangalore .K Ashwathappa  Personnel Management .com  www.Kapoor  Other References  Broachers. pamphlets & financial consultants manuals published by HDFC Standard Life  Websites   www.

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