A Comparative Study on Product of Bsli And

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PresentedBy

ROHIT jagtap

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TITLE

A COMPARATIVE STUDY ON

PRODUCT OF BSLI AND LIC

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PROBLEM STATEMENT

To analyze the Performanceevaluation of Birla Sun Life Insurance

products in comparison with Life

Insurance Corporation (LIC)

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OBJECTIVE

To determine and analyze the MarketPotential of the Birla Sun LifeInsurance Company in Navi Mumbai.

To study and determine the competitor(LIC) position in the market.

To find out why people like to take LICplans in comparison to Birla sun life

insurance plans. To analyze the customer satisfaction

regarding LIC and BSLI.

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HYPOTHESIS

Null hypothesis :

Birla product better than the LIC

product.

Alternative hypothesis:

Birla product are not better than LIC

product.

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SCOPE OF THE PROJECT

It gives information about the productof the company.

It helps to know whether the customer

are aware about the company andproduct offered to them by the

company.

It also helps in about companiesproduct.

The study also helps in understanding

the competitors of the company.

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LIMITATION OF THE PROJECT

This study provides the data for only

BSLI product. Two months time is not sufficient for

study of the topic.

The data collected is from secondary

source hence it is not 100% accurate.

There can be a chance of biasness inthe data selection.

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LITERATURE

Life insurance in India, author - HSADHAK,page no. 246

An evaluation of an individualsperformance that is based on the

difference between an individualsmeasurable output and an aggregatedamount of the same measurable outputobserved in a group of the individuals

peers. The main idea behind relativeperformance evaluation is that anindividual should not be held responsiblefor risks and factors beyond the controlof the individual.

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Compare product of BLSI &

LICBSLI PLAN

In BSLI plan policy termis 18 years less the ageof child at entryBSLIS SERAL JEEVANPLAN

In BSLI plan entry age is18-55 years

In BSLI min. premium is10000 p.a.

LIC PLAN

But in LIC plan policyterm is 5-25 yearsLICS SERAL JEEVAN PLAN LIC plan entry age is 12-60 years In LIC plan min.

premium is 5000p.a.

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Compare product of BLSI &

LICBSLI PLAN

BSLIs Retirement plan In BSLI plan min.

premium is 6000 p.a.BSLI Platinum plus plan In BSLI min. annual

premium is 50000p.a. Entry age in BSLI

Retirement plan is 18-70 years.

LICPLANLICs New JeevanSuraksha plan.

In LIC plan min.premium is 3000 p.a.LIC Market plus plan

In LIC plan premium is10000p.a. Entry age in LIC market

plus plan is 18-70 year

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BIRLA SUN LIFE INSURANCE COMPANY

LIMITED IS A JOINT VENTURE BETWEEN THE

ADITYA BIRLA GROUP, ONE OF THE LARGEST

BUSINESS HOUSES IN INDIA AND SUN LIFE

FINANCIAL INC., A LEADING INTERNATIONAL

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74%

26%

SHARE HOLDING PATTERN

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Type of company :joint venturewith sun life financial.

2.4 million customers. Distribution reach over 500citie

600plus branches.

239 partnerships with corporateagents banks .

The AUM is around $4.4billion

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REASONS FOR LOW PENETRATION OF

BIRLA SUN LIFE INSURANCE

There is no plan for the low income group. Fees for the advisor is higher than the othercompanies. Company does not penetrate on the rural market ata time. The company is facing major threats from LIC etc.

which is an government company.

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OPINIONS OF PEOPLE INSURANCE

SECTOR GOOD OR BAD

90%

10%

YES

NO

Particular

s

No. ofrespo

ndent

s

Yes 90

No 10

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Doyou think that investment in

BSLI is better than LIC ?

34%

66%YES

NO

Parti

culars

No. of

respondent

s

Yes 34

No 66

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IN NEAR FUTURE, DO YOU THINK

BSLI WILL HAVE HIGH GROWTH

RATE?

0%

5%

10%

15%

20%

25%

30%

35%

40%

AGREENETURAL

DISAGREECAN'TSAY

Series1

Particul

ars

No. of

respondent

s

Agree 20

Neutral 26

Disagree 14

Cant say 40

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FINDINGS

90 people saying that investment in insurancesector is good option and 10 are saying no.

20 people have BSLI policies and 80 have LICpolicy. 66 people are saying that investment in LIC is

better than BSLI, 34 are saying investment in BSLIis better.

26 people saying that BSLI growth will be neutralin near future.

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CONCLUSION

From the above study conclusion is derived thatpeople have more policies of LIC in comparison toBSLI.

People have more faith in govt. companies thanprivate sector Companies. So it is necessary for BSLI Co. that it Shouldpenetrate it's market in rural areasat a time Insurance sector is very wideand co. can grow infuture.

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RECOMMENDATIONS

Company should target each and every class ofthe society. Information regarding new product should beprovided to the customers. Charges should be low of the policies. Annual premium should be reasonable. At some level Company should provideinformation to the customers about the chargesof the policy.

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BIBLIOGRAPHY

BOOK REFERRED Risk Management Insurance - S.Arunajatesan

Indian Insurance - H. Narayanan

Life insurance in India - H SADHAK

http://www.insurance.birlasunlife.com/

http:// WWW.birlasunlifeinsurance.com/

www.lic.com/

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THANK YOU