MetLife Final satish

8/4/2019 MetLife Final satish

1/24

MetLife InsuranceCorporation Ltd

Life to us mean more than life

insurance. Its about

celebration of life, beginning &the financial freedom that leads

to life significance


2/24


3/24

Financial freedom for all.

Building long term customer relationship

World class customer service

Innovative Market oriented Product line


4/24


5/24

MetLife India Insurance Company Limited (MetLife) isan affiliate of MetLife, Inc. and was incorporated as a

joint venture between MetLife International Holdings,Inc., The Jammu and Kashmir Bank, M. Pallonji and Co.

Private Limited and other private investors.

It serves its customers by offering a range of innovativeproducts to individuals and group customers at more

than 600 locations through its bank partners andcompany-owned offices. MetLife has more than 50,000Financial Advisors, who help customers achieve peace ofmind across the length and breadth of the country.


6/24


7/24

One simple Question but may actually beunderstood and answered..

Ifyou needProtectionIfyou needSavingsIfyou needInvestment

Ifyou needFinancial SecurityIfUnforeseen event can happen in future,and Moreover

Ifyoucare for your beloved Ones.


8/24


9/24


10/24

Retirement Plan:New beginnings, new joys and the opportunity to explore the

unfulfilled dreams of the past - these are the essential

elements of a post retirement life. Financial independence is

very important at this stage. The exhaustive retirement plansof MetLife guarantee a financially secure retirement.

Met Growth

Met Advantage Plus Met Pension-Par


11/24


12/24

Rural Plan: Met Vishwas

Met Suvidha-Rural

Investment Plan:

Met Easy

Met Smart Gold

Met Smart Plus-Regular Pay

Met Smart Premier- Regular Pay

Met Smart Plus- Single Pay

Met Smart Premier- Single Pay


13/24

Health Plan: Health insurance plan from

MetLife helps to meet thecontingencies during ill health orill financial health consequentlyfor you and your family.

Its a long term plan which

covers you: Against Hospitalization

disbursements by offering you aDaily Cash benefit

Against 10 major vital illnesses


14/24

Maximum/ Minimum age of entry18 years-55 years (At first entry, for the Principal insured)

3 months-55 years (For Secondary Insured lives)

Cover ceasing age 65 years

Maturity/Death Benefit No Maturity/Death Benefit payable

Benefits Offered

1. Daily Hospitalization Cash Benefit

2. Daily ICU Cash Benefit

3. Recuperation/Recovery Benefit

4. Critical Illness Benefit

5. Accidental Total & Permanent Disability

benefit

Premium paying frequency

Yearly. Half-Yearly mode is available only if each of

the persons insured select a daily cash benefit

of ` 3000 or more.

Modal factor

Half-yearly -0.5131. Multiply the tabular premium

by the modal factor to get to the figure as

premium payable.


15/24


16/24


17/24

Developing a Sound Sales Planand Mgmt. Strategy

Developing Strong andInnovative distributionChannel

Banc assurance

Brand Building

Product Development

Public Relations and InternalCommunication

Recruitin D namic and Hi h


18/24


19/24

Tele Marketing - Direct Marketing inwhich sales person uses telephone tosolicit prospective customers to buyproduct and services.

Database Marketing - Analyzecustomer database and use theresults to form future projection thathelp to improve efficiency anddevelop new products

Bancassurance -Selling of insurancethrough a banks establisheddistribution channels. Penetratingrural market using Banc assuranceMedium only


20/24

Strong Parental SupportMetLife benefit from parent Companys Global presence

Proven Track Record

International Standard of Customer Service

Using Technology as Business Enabler

Uses a Software Module called AURA which automaticallyprocess an insurance proposal and issue the policy. It ensures

quick turnaround time and accuracy

Using Full Time Agents on Commission basis

Agents are Full Time Working on Commission basis

Reduce Fixed Cost


21/24

Major Advertisement Campaign

Internet

Television and Audio

MediumsTelemarketing

Referrals

Personalization of Product andServices

Penetrating untapped Semi urbanand rural market


22/24

Goal of 5 million customers by 2010

Further Expand operations to Class B and Class C

cities and part of rural India

Aggressive Growth plans of 100% for next 2-3years.

To capture a market share of 5% in Indian InsuranceSector


23/24

StrengthsQuality Distribution channels

Strong Underwriting

Strong Brand NameQuality products and Services

WeaknessesLimited Market Penetration

Low Market Share

Not a well know name in Interiors ofIndia

FDI allowed only upto 26%

OpportunitiesCross sell financial Services areUntapped

Untapped Rural Market

Brand and Line Extension

Niche market

ThreatsIncreasing expenses and Low ProfitMargins

Government Regulations and

political situation

Vulnerable to entry of new Players


24/24

Thank You.. .

For the IF in Life.

MetLife Final satish

Documents