PROJECT REPORT

ON
VARIOUS INSURANCE PLANS
OF HDFC
Insurance Plans

Submitted to :
Mrs.Sanchita Bansal
• The first private sector retail Housing Finance
Company in India was incorporated in 1977 with
almost 90% of the initial share holding in the
hands of domestic institution and retail investors
and currently 77% of the shares hold by foreign
institutional investors
• A primary objective of meeting a social needs of
the common mass of India as well as promoting
home ownership by providing long-term finance
to house holds for their needs.
PRODUCT OF HDFCSLIC

Products are the plans offered by the HDFC SL

Categorized into:

Traditional plans
• Term assurance
• Money Back plan
• Children Plan
Unit Linked Investment Plans
• Unit Link Young Star
• Endowment Plus
• Unit Link pension Plan
OBJECTIVES OF STUDY:-

• To find out the awareness among

customers about various life insurance
products available in India either ULIP or
TRADITIONAL.
• To find out customer perception about
various life insurance plans available in the
market.
• To understand customer perception
towards the service environment of that
company.
Research Methodology
•Sample Size – 65
•Samples were selected on random basis
•The primary data was collected by using
structured questionnaire.
• Getting questionnaire filled up by
respondents picked up spontaneously by
simple random sampling and face-to-face
interview was conducted to collect the
data.
Data Analysis And
Interpretation
Data Analysiare you aware about
ULIP Plans?

38%

yes
no
62%
 LIFE COVERED
22%

78%

Respondents having Insurance cover

Respondents not having Insurance Cover
More Awareness with emergence of
Private players?

10%

yes
no

90%
SWOT ANALYSIS OF HDFC SL

STRENGTHS:
• Its collaborations and joint ventures with international companies
such as Standard life, and partnership with chub, enable it to bring
the best service available worldwide to its consumers..
• Its pool of competencies: mutual funds, sum assured, etc
• Ability to understand customer's business and offer right
technology.
• Long-standing relationship with customers.
• Pan India support & service infrastructure.
• Best-value-for-money offerings
WEAKNESSES:

• HDFC SL Could not able to match LIC in

remote area services.
• Always emphasizes on numbers and fast
results.
• After sales service.
• Less promotional campaigns
OPPORTUNITIES:
• Insurance industry booming at a rate of 45%
every year.
• Increasing consumer awareness about
Insurance and its use.
• Tremendous untapped potential of Insurance
products in India.
• Increasing competition.
• Tie-ups with various MNC’s enable to extract
their core competencies.
THREATS:

• New private players are coming in the

market e.g. RELIANCE Insurance.
• Entry of MNC’s giving direct competition.
• Govt. instability has a long-term
repercussion affecting company’s policies
& its growth.s
RECOMMANDATION
• Company executive should visit customer on regular
basis.
• They should pay proper attention towards checking of
various components of insurance before end user
delivery. Otherwise it tends towards defame of brand
name in comparison to rivals.
• Need to expend customer care center as the consumer
base of HDFC SL is increasing with tremendously fast
pace.
• Proper attention should be paid for advertisement
planning otherwise it may lead to problem for customer
as well as for company.
CONCLUSION
• ICICI Prudential, TATA AIG have better awareness in the market then HDFC SL in private
companies

• Risk cover remains the most important purpose for buying insurance followed by option as
investment

• Premium income for HDFC SL grows by 132% for financial year 2004-2005. the company
generated new business premium income of Rs.486 crore

• Unit linked products accounted for over 50% of the new business premium

• HDFC Standard Life continues to have one of the widest reaches among new insurance
companies. The company doubled the number of offices to 104 across the country. Through
these offices, the company today services customer needs in over 440 towns. The company
also increased its depth in existing markets by increasing its Financial Consultant strength
from 17,000 as on 31st March 2009 to over 23,000 as on 31st March 2010.
LIMITATIONS
• when population is not considered at the time of data
collection to avoid ambiguity in the analysis. As the
complete enumeration of the whole population would
not be justifiably increased the accuracy.
• Sample has been taken out according to personal
judgment, which may not be accurate.
• Some data has been generated from the secondary
source, so the findings may be affected from the
limitations of the secondary source.
• Other limitations, such as time, cost, and personal
factors might have been also effected the research
process.