Presented By ROHIT jagtap

TITLE

A COMPARATIVE STUDY PRODUCT OF BSLI AND LIC

ON

PROBLEM STATEMENT

To analyze the Performance evaluation of Birla Sun Life Insurance products in comparison with Life Insurance Corporation (LIC)

OBJECTIVE
To determine and analyze the Market Potential of the Birla Sun Life Insurance Company in Navi Mumbai. To study and determine the competitor (LIC) position in the market. To find out why people like to take LIC plans in comparison to Birla sun life insurance plans. To analyze the customer satisfaction regarding LIC and BSLI.

HYPOTHESIS

Null hypothesis : Birla product better than the LIC product. Alternative hypothesis: Birla product are not better than LIC product.

SCOPE OF THE PROJECT

It gives information about the product of the company. It helps to know whether the customer are aware about the company and product offered to them by the company. It also helps in about companies product. The study also helps in understanding the competitors of the company.

LIMITATION OF THE PROJECT

This study provides the data for only BSLI product. Two months time is not sufficient for study of the topic. The data collected is from secondary source hence it is not 100% accurate. There can be a chance of biasness in the data selection.

LITERATURE

Life insurance in India, author - H SADHAK,page no. 246 An evaluation of an individuals performance that is based on the difference between an individuals measurable output and an aggregated amount of the same measurable output observed in a group of the individuals peers. The main idea behind relative performance evaluation is that an individual should not be held responsible for risks and factors beyond the control of the individual.

Compare product of BLSI & LIC

BSLI PLAN

LIC PLAN
But in

In BSLI plan policy term is 18 years less the age of child at entry BSLIS SERAL JEEVAN PLAN In BSLI plan entry age is 18-55 years

LIC plan policy term is 5-25 years

LICS SERAL JEEVAN PLAN

LIC

In BSLI min. premium is 10000 p.a.

plan entry age is 1260 years In LIC plan min. premium is 5000p.a.

Compare product of BLSI & LIC

BSLI PLAN BSLIs Retirement plan LICPLAN LICs New Jeevan Suraksha plan. In LIC plan min. premium is 3000 p.a. LIC Market plus plan In LIC plan premium is 10000p.a. Entry age in LIC market plus plan is 18-70 year

BSLI plan min. premium is 6000 p.a. BSLI Platinum plus plan In BSLI min. annual premium is 50000p.a. Entry age in BSLI Retirement plan is 1870 years.

In

BIRLA SUN LIFE INSURANCE COMPANY LIMITED IS A JOINT VENTURE BETWEEN THE ADITYA BIRLA GROUP, ONE OF THE LARGEST BUSINESS HOUSES IN INDIA AND SUN LIFE

FINANCIAL INC., A LEADING INTERNATIONAL

SHARE HOLDING PATTERN

74%

26%

Type of company :joint venture with sun life financial. 2.4 million customers. Distribution reach over 500cities 600plus branches. 239 partnerships with corporate agents banks . The AUM is around $4.4billions

REASONS FOR LOW PENETRATION OF BIRLA SUN LIFE INSURANCE

There is no plan for the low income group. Fees for the advisor is higher than the other companies. Company does not penetrate on the rural market at a time. The company is facing major threats from LIC etc. which is an government company.

OPINIONS OF PEOPLE INSURANCE SECTOR GOOD OR BAD

10%
Parti No. of cular respo s ndent s
Yes No 90 10

90%

YES NO

WHICH COMPANY POLICY MORE PREFERED BY PEOPLE

Parti No. of cular respo s ndent s

BSLI LIC 20 80

Do you think that investment in BSLI is better than LIC ?

Parti No. of cular respo s ndent YES s
NO Yes No 34 66

34%
66%

IN NEAR FUTURE, DO YOU THINK BSLI WILL HAVE HIGH GROWTH RATE?
40% 35% 30% 25% 20% 15% 10% 5% 0%
AGREE NETURAL DISAGREE CAN'TSAY

Particul No. of ars respo ndent s

Agree 20

Neutral

26

Disagree 14 Cant say 40

Series1

FINDINGS

90 people saying that investment in insurance sector is good option and 10 are saying no. 20 people have BSLI policies and 80 have LIC policy. 66 people are saying that investment in LIC is better than BSLI, 34 are saying investment in BSLI is better. 26 people saying that BSLI growth will be neutral in near future.

CONCLUSION
From the above study conclusion is derived that people have more policies of LIC in comparison to BSLI. People have more faith in govt. companies than private sector Companies. So it is necessary for BSLI Co. that it Should penetrate it's market in rural areas at a time Insurance sector is very wide and co. can grow in future.

RECOMMENDATIONS
Company should target each and every class of the society. Information regarding new product should be provided to the customers. Charges should be low of the policies. Annual premium should be reasonable. At some level Company should provide information to the customers about the charges of the policy.

BIBLIOGRAPHY

BOOK REFERRED Risk Management Insurance - S.Arunajatesan Indian Insurance - H. Narayanan Life insurance in India - H SADHAK

http://www.insurance.birlasunlife.com/ http:// WWW.birlasunlifeinsurance.com/ www.lic.com/

THANK YOU