Business Principles, Tools, and Techniques in Participating in Various Types...
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1. Comparison Of L.I.C. With Its Competitors By- Sheetesh Rajpoot Roll No. 0102927015
2. Content INDUSTRY OVERVIEW COMPANY PROFILE INSURANCE SCHEMES OF LIC COMPETETORS SWOT ANALYSIS RECOMMENDATIONS & ANALYSIS 2
3. Insurance Industry In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the insurance; an insured, or policyholder, is the person or entity buying the insurance policy. 3
5. What Is Life Insurance Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.The contract is valid for payment of the insured amount during: -The date of maturity, or -Specified dates at periodic intervals, or -Unfortunate death, if it occurs earlier.
28. Mission & Vision Mission "Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development." Vision"A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."
29. Members On The Board Of The Corporation ShriD.K. Mehrotra, (Current-in-Charge & CHAIRMAN, LIC )Shri T. S. Vijayan, (Managing Director, LIC )Shri Thomas Mathew T. (Managing Director, LIC )Shri A.K. Dasgupta, (Managing Director, LIC )Shri R. Gopalan, (Secretary, Department of Economic Affairs, Ministry of Finance, Govt. of India.)
32. Organisation structure of LIC Sales Managers Senior Branch Managers (Head of the Branch) Assistant Branch Managers Sells Development Officers Different Agent 16
33. Insurance Plan’s of LIC ENDOWMENT PLAN MONEY BACK PLAN SPECIAL PLANS FOR CHILDRENS PLANS PENSION PLUS 17
34. Competitors SBI LIFE HDFC LIFE ICICI PRU LIFE BAJAJ ALLIANZ TATA AIG Birla sun life. ING Vysya. Aviva. Kotak Mahindra old mutual. Max new York. Met life. 18
35. Awards Received in 2010-11 19 Readers Digest Trusted Brand CNBC Awaz Consumer Award Power Brand Award
43. (Q) WHICH INSURNACE COMPANY PREFERRED BY THE INSURER? a-LIC . b-SBI. c-ICICI. d-BAJAJ ALLIANZ. e-other’s
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45. It needs to apply different set of rules and treatment strategies to different customer segments. However, to personalize interactions, insurers are required to capture customer information in an integrated system.