Swot analysis of

51%

26%

23%

Canara Bank HSBC OBC

Company Details:

Company at a Glance:

The Company was launched on 16 June 2008 with headquarter in Gurgaon.

It is a joint venture between two of India’s largest public sector banks, Canara Bank and Oriental Bank of Commerce, and HSBC Insurance (Asia Pacific) Holdings Limited.

Network of 4400 branches , 29 Regional offices, 60 million customers, and 822 employees.

Have 3 Individual products and 2 Group Products

170,364 policies sold ( as on July 31, 2010).

Ranked as top 2nd in terms of Customer service.

Convenient ways of paying your premiums

Tools and calculator.

The backbone of the Company's operations is a highly IT-enabled.

The huge international brand equity of HSBC.

Faster claim processing.

Strengths

Customer database of two nationalized banks.

The effective bank assurance model has enabled the company in reaching to customer in rural and social sector.

Better product knowledge.

In Group plans (group loan protection plan & Group term plan) minimum premium 23000.

Canara HSBC has an advantage because of having Both public sector (Oriental, Canara) and private sector (HSBC) share holders.

Strengths

Being a new entrant in the market it does not have first mover advantage.

Smaller sales force.

High premium for individual plans. (minimum premium for Growth Smart Plan and Dream smart plan is 25,000/- )

Small product portfolio.

Weaknesses

OpportunitiesLow penetration and untapped markets.

Can leverage share holders strong corporate relationship to sell group policies to large companies.

Can absorb the existing customers of the three entities.

Threats High competition among different players.

Many foreign bank giants are going to enter Indian market. They have very large portfolio of various verticals and products with them.

Rolling out of innovative products by competitors.

Fluctuating policies by regulators.

1) Adherence to Regulations

2) After Sales Support / Warranty Support

3) Authenticity / Transparency / Ethics

4) Customer Friendliness / Loyalty & Promotional Programs

5) Professionalism / Qualification of Staff

6) Range / Selection / Customizability

7) Reliability/ Value for Money

8) Safety

Consumer Satisfaction Level Summary

THANK YOU

Raja Chaitanya Vikram. G