Submitted By:- Kiran Kumar HS8NBSA030INC-SHIMOGA

A 3C Report of

Prepared By

Kiran Kumar H.S

8NBSA030

MASTERS OF BUSINESS ADMINISTRATION

SIP Centre – MANGALORE

INC Centre- SHIMOGA

A report submitted in partial fulfillment of the requirements of

MBA Program (2008-10)

Under the Guidance of

Mrs. Sreelakshmi Mr.Chandrakanth Bhat

Faculty Guide Company Guide

Introduction:-

The Birla Sunlife Insurance Company was established in the

year 2006, with a joint venture of two leading companies’ likely

Aditya Birla group and Sunlife financials(USA). Birla Sun Life

Insurance pioneered the unique Unit Linked Life Insurance Solutions

in India. Within 4 years of its launch, Birla Sunlife Insurance has

cemented its position as a leading player in the Private Life

Insurance Industry.

Birla Sunlife insurance has been focus on Investment Linked

Insurance Products, supported with protection products to maintain

leadership in product innovation. Multi distribution channels- Direct

Sales Force, Alternate Channels and Group offering convenient

channels of purchase to customers. It has established Web-enabled

IT systems for superior customer services to have issued policies

over the Internet. Corporate governance and a high degree of

transparency in all business practices and procedures to have an

operational Business Continuity Plan and all Strong fundamentals

based on the Aditya Birla group's local insight and Sun Life

financials's global expertise.

The head office is situated in below address,

Birla Sunlife Insurance company ltd. 6th floor, Vaman center Makhwana Road, Off andheri-kurla RoadAndheri(East),Mumbai-400059

The Branch office in Mangalore is located in:-

Birla Sunlife Insurance company ltd.2nd floor, Premium EnclaveLight House Hill RoadMangalore-575002

Vision:- To create long term value along with market leadership

Missions:-

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

BSLI has contributed significantly to the growth and development of the life

insurance industry in India by introducing unique Unit Linked Life Insurance

Solutions, pure term plan and a slew of innovative products. By adopting

multi-distribution channels such as Direct Sales Force, alternate channels and

convenient points of purchase, including selling its policies through the ban

assurance route and through the internet, BSLI has revolutionized the entire

insurance policy-buying experience.

Corporate governance and a high degree of transparency in all its

business practices and procedures, besides world-class processing

capabilities and well-prepared business continuity planning, have brought

about the credibility that BSLI enjoys among its patrons. The process of

getting sales illustrations signed by customers, offering a free look period on

all policies, which are now standard norms followed by the insurance industry,

were introduced by BSLI.

BSLI offers a spectrum of products to meet the growing needs of

individuals and group insurance through a multi channel distribution network.

The company has quadrupled its distribution network to over 600 branches

and more than 100,000 advisors. With a rapidly growing national footprint, the

C.E.O

(ADITYA BIRLA GROUP)

Mr.Kumar Mangalam Birla

Board of

Directors

Investment Committee

Audit Committee

Share Allotment Committee

Finance Committee

Risk Review

Committee

company is now positioned to capture an increased market share in the fast

growing life insurance market.

Management :-

Management Team:-

Products:-

For Individuals:-

For Groups:-

For Non-resident Indians:-

NRIs have played a very significant role in one way or other in helping our country's economy grow. We at Birla Sun Life Insurance (BSLI) appreciate the effort put in by you all in trying to make India a major economic power. BSLI offers insurance solutions keeping in mind the needs of individual. It can be an ideal gift from you to your loved and dear ones in India, because no matter where you are we will be there to take care of your concerns back home.

Following are the plans offered to NRI:

Birla Sun Life Insurance Prime Life Premier

Birla Sun Life Insurance Prime Life

Birla Sun Life Insurance Flexi Life Line Plan

Birla Sun Life Insurance Flexi Save Plus

Birla Sun Life Insurance Flexi Cash Flow

Birla Sun Life Insurance Classic Life Premier

Birla Sun Life Insurance Single Premium Bond

Birla Sun Life Insurance Simply Life

Awards & Recognitions:-

SWOT Analysis…

Strengths:-

* Quality products

* Large networks

* Leading company in insurance sector

* Strong brand name Aditya Birla

* Over all market share 7% and above

Weakness:-

* Less awareness about all products of life insurance in market

* Low advertising

* Focus only on urban segments

Opportunities:-

* Scope for opening of new branches in state/country

* More branches will help in expanding business

* Increasing population will increase in insurance business

* Recruiting candidates helps to increase the business

Threats:-

* Market uncertainty (Recession)

* Consumers do not invest easily

* Consumer perception about Birla Sunlife Insurance is “purely private company”

    After considering the recommendations of the Malhotra Committee report, in 1999, the

Insurance Regulatory and Development Authority (IRDA) was constituted as an autonomous

body to regulate and develop the insurance industry. The IRDA was incorporated as a

statutory body in April, 2000. The key objectives of the IRDA include promotion of

competition so as to enhance customer satisfaction through increased consumer choice and

lower premiums, while ensuring the financial security of the insurance market.

The IRDA opened up the market in August 2000 with the invitation for application for

registrations. Foreign companies were allowed ownership of up to 26%. The Authority has

the power to frame regulations under Section 114A of the Insurance Act, 1938 and has from

2000 onwards framed various regulations ranging from registration of companies for

carrying on insurance business to protection of policyholders™ interests.

History of Life Insurance:-

In 1818 the advent of life insurance business in India with the establishment of the

Oriental Life Insurance Company in Calcutta. This Company however failed in 1834. In 1829,

the Madras Equitable had begun transacting life insurance business in the Madras

Presidency. 1870 saw the enactment of the British Insurance Act and in the last three

decades of the nineteenth century, the Bombay Mutual (1871), Oriental (1874) and Empire

of India (1897) were started in the Bombay Residency. This era, however, was dominated by

foreign insurance offices which did good business in India, namely Albert Life Assurance,

Royal Insurance, Liverpool and London Globe Insurance and the Indian offices were up for

hard competition from the foreign companies. In 1914, the Government of India started

publishing returns of Insurance Companies in India

The insurance sector is a colossal one and is growing at a speedy rate of 15-20%. Together

with banking services, insurance services add about 7% to the country GDP. A well-

developed and evolved insurance sector is a boon for economic development as it provides

long- term funds for infrastructure development at the same time strengthening the risk

taking ability of the country.

About IRDA:-

Customers:-

The customers of the company are below,

Individuals :-

One who earns the monthly salary, Businessman,etc.

Groups :-

HUF’s, Local committees, Co-operative societies..Etc

NRI’s :-

Non-Resident Indians.

Competitors:- Life insurance corporation

ING vysya life insurance

Max network life insurance

MetLife insurance

Aviva life insurance

Bharathi Axa life insurance

Bajaj Allianz life insurance

Tata AIG life insurance

ICICI Prudential Life Insurance

Reliance life insurance

Kotak Mahindra life insurance

COMPETITORS IN DETAIL:-

Aviva life insurance: Aviva Life Insurance Company India Pvt. Ltd. is a joint venture between Aviva of UK and Dabur, one of India's leading producers of traditional healthcare products. Aviva holds a 26 per cent stake in the joint venture and the Dabur group holds the balance 74 per cent share.

Bajaj Allianz: Bajaj Allianz is a joint venture between Allianz AG one of the world's largest insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the world. Bajaj Allianz is into both life insurance and general insurance. Allianz Group is one of the world's leading insurers and financial services providers. Founded in 1890 in Berlin, Allianz is now present in over 70 countries

HDFC Standard Life Insurance Co. Ltd: is a joint venture between HDFC Ltd., India's largest housing finance institution and Standard Life Assurance Company, Europe's largest mutual life company. It was the first life insurance company to be granted a certificate of registration by the IRDA on the 23rd of October 2000.

ING Vysya Life Insurance Company Limited: is a joint venture between Vysya Bank and ING Group of Holland, the world's 4th largest financial services group, with presence across 50 countries, and a heritage of over 150 years.

Kotak Mahindra Old Mutual Life Insurance Ltd: is a joint venture between Kotak Mahindra Bank Ltd. (KMBL), and Old Mutual plc. Kotak Mahindra is one of India's leading financial institutions and offers a range of financial services such as commercial banking.

Life Insurance Corporation of India: (LIC) is an autonomous body authorized to run the life insurance business in India with its Head Office at Mumbai. It has been established by an act of the Parliament and started functioning from 1/9/1956.

ICICI Prudential Life Insurance : ICICI Prudential life insurance is a part of ICICI Bank.

Max New York Life Insurance Company Limited is a joint venture between Max India Limited, a multi-business corporate, and New York Life International, a global expert in life insurance. New York Life is a Fortune 100 company that has over 160 years of experience in the life insurance business.

MetLife India Insurance Co. Pvt Ltd is a joint venture between MetLife Group and its Indian partners. The Indian partners include J&K Bank, Dhanalakshmi Bank, Karnataka Bank, Karvy Consultants, Geojit Securities, Way2Wealth, and Mini Muthoothu.

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. The company acquired 100 per cent shareholding in AMP Sanmar Life Insurance Company in August 2005. Taking over AMP Sanmar Life provided Reliance Life Insurance a readymade infrastructure and a portfolio.

SBI Life Insurance is a joint venture between the State Bank of India and Cardiff SA of France. SBI Life Insurance is registered with an authorized capital of Rs 500 crore and a paid up capital of Rs 350 cores.

Tata AIG Life Insurance Company Limited is a joint venture between Tata Group and American International Group, Inc. (AIG). Tata Group is one of the oldest and leading business groups of India. Tata Group has had a long association with India's insurance sector having been the largest insurance company in India prior to the nationalization of insurance. The Late Sir Dorab Tata was the founder Chairman of New India Assurance Co. Ltd., a group company incorporated way back in 1919.

Shriram Life Insurance Company Ltd is a joint venture between the Chennai-based Shriram Group and the South

African insurance major Sanlam. The company launched its operation in India in December 2005

Market Analysis:-

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