By: Goutam Goswami Sahoo PG11062

IDBI Federal Life Insurance Co Ltd is a joint-venture of IDBI Bank, Indias premier development and commercial bank, Federal Bank, one of Indias leading private sector banks and Ageas, a multinational insurance giant based out of Europe. In this venture, IDBI Bank owns 48% equity while Federal Bank and Ageas own 26% equity each. It started in March 2008, in just five months of inception it became one of the fastest growing new insurance companies to garner Rs 100 Cr in premiums.

Enhance customer experience through innovative product offerings continuously. To be transparent while dealing with customer. To invest in and build quality human capital.

To be the leading provider of wealth management, protection and retirement solutions that meets the needs of our customers and adds value to their lives.

To understand the organizational structure To study the products of the company Create customer relationship Improving negotiation skill to attract the customer Selling more products Achieving premier membership

CHIEF EXECUTIVE OFFICER

Mr.Nageshwara Rao

COUNTRY HEAD Mr.Murali

HUMAN RESOURCES HEAD Mrs. Radhika Venkatraman

MARKETING HEAD Mr. Amit Tripathi

TRAINING HEAD Mrs. Vaishali

Lifesurance Incomesurance Healthsurance Termsurance Wealthsurance Childsurance

Strength

High degree of customer satisfaction. Lower response time with efficient and effective services.

Weakness

Lack in identifying the competitors. Less advertisement.

Opportunity

Could seek better customer deal. Fast track career development opportunity on an industry wide - basis.

Threat

Big Insurance company grab the customers with the service and the large variety of products. Very high competition prevailing in the industry.

Need to train and develop insurance agents with more comprehensive knowledge and skills to counter every queries of the customer. The company should spread the awareness about the existence of their firm in and around the locality

I would like to conclude that insurance is a noble service which is very important for every citizen to learn and realize its importance because this is the only source which can remain the status where one is with the family bread earner and even when he is not.