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Nov 18, 2014
Introduction:The purpose of the project is to know about the market for Birla Sun Life Insurace Company. Today overall market for insurance industry is consider as 100% than only 30% market has covered by insurance companies so there is 70% market is remaining for insurance companies. Birla Sun Life Insurace Company is growing very fast. In March month Birla Sun Life Insurace Company has maximum business from its competitors. In future life insurance sector going to give thousands of vacancies to the students so there is lots of opportunities for MANAGEMENT students. Because capture to remaining 70% market they require lots of men over. Students have to give their full efforts or 100% target in their summer internship program for getting good placements in life insurance sector.
Objectives:The prime objective of the study was to understand the market and analysis the competitors. The survey was used to Understand the type of Life Insurance Policies desired by the customer. To find out the degree of awareness of life Insurance. To study the consumer behavior. To find out the market potential for life Insurance Policies in Kota. To learn professionalism in market of financial product and services. To find prospects for the institution. To conduct the survey to know how many persons have Life Insurance Policies or how many dont have.
Birla Sunlife Insurance:-
Established in 2000, Birla Sun Life Insurance Company Limited (BSLI) is a joint venture between the Aditya Birla Group, a well known and trusted name globally amongst Indian conglomerates and Sun Life Financial Inc, leading international financial services organization from Canada. The local knowledge of the Aditya Birla Group combined with the domain expertise of Sun Life Financial Inc., offers a formidable protection for its customers future. With an experience of over 9 years, BSLI has contributed significantly to the growth and development of the life insurance industry in India and currently ranks amongst the top 5 private life insurance companies in the country. Known for its innovation and creating industry benchmarks, BSLI has several firsts to its credit. It was the first Indian Insurance Company to introduce Free Look Period and the same was made mandatory by IRDA for all other life insurance companies. Additionally, BSLI pioneered the launch of Unit Linked Life Insurance plans amongst the private players in India. To establish credibility and further transparency, BSLI also enjoys the prestige to be the originator of practice to disclose portfolio on monthly basis. These category development initiatives have helped BSLI be closer to its policy holders expectations, which gets further
accentuated by the complete bouquet of insurance products (viz. pure term plan, life stage products, health plan and retirement plan) that the company offers. Add to this, the extensive reach through its network of 600 branches and 1,75,000 empanelled advisors. This impressive combination of domain expertise, product range, reach and ears on ground, helped BSLI cover more than 2 million lives since it commenced operations and establish a customer base spread across more than 1500 towns and cities in India. To ensure that our customers have an impeccable experience, BSLI has ensured that it has lowest outstanding claims ratio of 0.00% for FY 200809. Additionally, BSLI has the best Turn Around Time according to LOMA on all claims Parameters. Such services are well supported by sound financials that the Company has. The AUM of BSLI stood at Rs. 8165 crs as on February 28, 2009, while as on March 31, 2009, the company has a robust capital base of Rs. 2000 crs.
Vision:To be a leader and role model in a broad based and integrated financial services business.
Mission:To help people mitigate risks of life, accident, health, and money at all stages and under all circumstances Enhance the financial future of our customers including enterprises
Values:Integrity Commitment Passion Seamlessness Speed A US $28 billion corporation, the Aditya Birla Group is in the league of Fortune 500 worldwide. It is anchored by an extraordinary force of 100,000 employees, belonging to 25 different nationalities. The group operates in 25 countries across six continents truly India's first multinational corporation. Aditya Birla Group through Aditya Birla Financial Services Group (ABFSG), has a strong presence across various financial services verticals that include life insurance, fund management, distribution & wealth management, security based lending, insurance broking, private equity and retail broking. The seven companies representing ABFSG are Birla Sun Life Insurance Company, Birla Sun Life Asset Management Company, Birla Sun Life Distribution Company, Birla Global Finance Company, Birla Insurance Advisory & Broking Services, Aditya Birla Capital Advisors and Apollo Sindhoori Capital Investment. In FY 2008-09, the consolidated revenues of ABFSG from these businesses crossed Rs. 4763 crores, registering a growth rate of 36%. For more information please visit www.adityabirla.com
Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of December 31, 2008, the Sun Life Financial group of companies had total assets under management of $381 billion. For more information please visit www.sunlife.com
About Aditya Birla Group:-
A US $29.2 billion corporation, the Aditya Birla Group is in the league of Fortune 500. It is anchored by an extraordinary force of 130,000 employees, belonging to 30 different nationalities. In India, the Group has been adjudged "The Best Employer in India and among the top 20 in Asia" by the Hewitt-Economic Times and Wall Street Journal Study 2007. Over 50 per cent of its revenues flow from its overseas operations. The Group operates in 25 countries India, UK, Germany, Hungary, Brazil, Italy, France, Luxembourg, Switzerland, Australia, USA, Canada, Egypt, China, Thailand, Laos, Indonesia, Philippines, Dubai, Singapore, Myanmar, Bangladesh, Vietnam,
Malaysia and Korea.
Globally the Aditya Birla Group is::: A metals powerhouse, among the world's most cost-efficient aluminum and copper producers. Hindalco-Novelis is the largest aluminum rolling company. It is one of the three biggest producers of primary aluminum in Asia, with the largest single location copper smelter :: No.1 in viscose staple fiber :: The fourth largest producer of insulators :: The fourth largest producer of carbon black :: The 11th largest cement producer globally, the seventh largest in Asia and the second largest in India :: Among the world's top 15 BPO companies and among India's top four :: Among the best energy efficient fertilizer plants
In India::: A premier branded garments player :: The second largest player in viscose filament yarn :: The second largest in the chloral-alkali sector :: Among the top five mobile telephony companies :: A leading player in life insurance and asset management :: Among the top three supermarket chains in the retail business Rock solid in fundamentals, the Aditya Birla Group nurtures a culture where success does not come in the way of the need to
keep learning afresh, to keep experimenting.
Beyond business the Aditya Birla Group is::: Working in 3,700 villages :: Reaching out to seven million people annually through the Aditya Birla Centre for Community Initiatives and Rural Development, spearheaded by Mrs.Rajshree Birla :: Focusing on: health care, education, sustainable livelihood, infrastructure and espousing social causes :: Running 42 schools and 18 hospitals Transcending the conventional barriers of business to send out a message that "We care".
About Sun Life Financial:Sun Life Financial is a leading international financial services organization providing a diverse range of protection and wealth accumulation products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. As of December 31, 2008, the Sun Life Financial group of companies had total assets under management of $381 billion.
Mr. Ajay Srinivasan Managing Director
Mr. Srinivasan holds a Bachelor of Arts degree with Honors in Economics from St. Stephens College, University of Delhi and an MBA from the Indian Institute of Management, Ahmadabad. He is the Chief Executive, Financial Services and Director, Corporate Strategy and Business Development at the Aditya Birla Group since July 2007. In his role as Chief Executive, Financial Services, Aditya Birla Group, he sets the strategic direction and vision and provides operational leadership for the Groups Financial Services business. In his role as Director, Corporate Strategy and Business Development, he directs and strategies on business portfolio issues for the Aditya Birla Group focusing on the longterm sustainability, profitability and value creation of the Groups businesses. Prior to joining the Aditya Birla Group, Mr. Ajay Srinivasan was associated with Prudential Corporation Asia, Thread needle Asset Management, etc. at senior levels. With a proven track record for building successful businesses, his experience in the financial services industry spans almost two decades. Mr. Mayank B