PRESENTATION ON LIFE INSURANCE

CORPORATION OF INDIA

PRESENTED BY
SNEHA.N.M
MBA 2ND SEM
HUMAN RESOURCE
MANAGEMENT.
 CONTENTS
• INTRODUCTION.
• MISSION&VISSION.
• LOGO OF LIC.
• MAP.
• WHY TO HAVE INSURANCE.
• TYPES OF POLICIES.
• SOURCES OF RECRUITMENT.
• SWOT ANALYSIS.
• COMPETITORS.
 INTRODUCTION
• LIC GROUP WAS FORMED IN SEPTEMBER 1956 BY AN ACT OF
PARLIMENT .
• PARENT COMPANY OF LIC IS GOVERNMENT OF INDIA.
• LIC HAVE NETWORK OF 2048 BRANCHES,109 DIVISION OFFICE
&8 ZONAL OFFICE IN THE COUNTRY.
• IT IS THE LARGEST INSURANCE CO. IN INDIA.
• TAGLINE /SLOGAN –”YOGAKSHEMAM VAHAMYAHAM”MEANS
YOUR WELFARE IS OUR RESPONSIBILITY.
• VK SHARMA IS THE PRESENT CHAIRMAN OF LIC .
 MISSION &VISION
• MISSION-:EXPLORE& ENHANCE THE QUALITY OF LIFE
OF PEOPLE THROUGH FINANCIAL SECURITY.
• VISION -:A NATIONALLY COMPETITIVE FINANCIAL
CONGLOMERATE OF SIGNIFICANCE OF SOCIETIES
AND PRIDE OF INDIA.
LOGO OF LIC
MAP
 WHY TO HAVE INSURANCE?
• PROTECTION.
• LIQUIDITY.
• TAX RELIEF.
• MONEY WHEN YOU NEED IT.
 TYPES OF POLICIES
• JEEVAN AROGYA PLAN.
• CHILDREN PLAN.
• MONEY BACK PLAN.
• WHOLE LIFE PLANS.
• JOINT LIFE PLAN.
• HEALTH PLAN.
 SOURCES OF RECRUITMENT
 INTERNAL SOURCES  EXTERNAL SOURCES
• TRANSFERS. • PRESS
• PROMOTIONS. ADVERTISEMENTS.
• UPGRADING. • PLACEMENT AGENCIES.
• RETIRED EMPLOYEES. • EMPLOYMENT
EXCHANGES.
 SWOT ANALYSIS
 STRENGTHS.
• LARGEST STATE –OWNED LIFE INSURANCE COMPANY IN
INDIA.
• IT HAS 1,15,000. EMPLOYEES ACROSS INDIA.
• ACCORDING TO BRAND TRUST REPORT ,LIC IS THE 8TH
MOST TRUSTED BRAND OF INDIA.
• IT HAS THE LARGEST FUND BASE IT IS THE BIGGEST
INVESTOR IN INDIA.
 WEAKNESSES
• IT HAS AN IMAGE OF GOVERNMENT AGENCY AND HENCE
LACKS INNOVATION.
• MANAGING A HUGE WORKFORCE DURING ECONOMIC
CRISIS MEANT OVER BURDENED DUE TO SALARIES.
 OPPORTUNITIES
• USE OF TECHNOLOGY TO PROVIDE EFFECTIVE SERVICES
TO URBAN POPULATION.
• GOVERNMENT SCHEMES IMPLEMENTATION.
 THREATS
• ECONOMIC CRISIS.
• ENTRY OF NEW NBFC’S IN THE SECTOR.
• VARYING GOVERNMENT POLICIES.
 COMPETITORS FOR LIC
• SBI LIFE INSURANCE.
• KOTAK LIFE INSURANCE.
• HDFC LIFE INSURANCE.
THANK YOU.