Ranjit's United India Fire & General Insurance Companies Ltd

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United India Fire & General

Insurance Companies Ltd.

Prepared by:

Ranjit DebnathGlobal School of Business


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Table of contents

Executive Summary

Background

-- Year of Incorporation

& other details

Behind the LOGO

Demographics

--Location Legal structure

--Corporate Structure

Organizational Structure

-- Chart

-- Board of Directors

-- Management Hierarchy

Operational Profile

-- Products /Services /Solutions

Competitive Strengths

Shareholding Pattern

Financial Summary

--Balance Sheet

--Sources of Funds

--Applications of Fund Risks & Concerns

Key Success Factor

Awards

SWOT Analysis

Company Initiatives & Strategy

Annexure

--Company in the press

Sources of data collection


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Executive summary

The company

Market & Customers

Products

Competitor

Sales and marketing

Business operations Financial projection and plans


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BackgroundYear of Incorporation & Other details

United India Insurance Company Limited wasincorporated as a Company on 18th February 1938.

General Insurance Business in India was nationalized

in 1972.

After Nationalization United India has grown by leapsand bounds and has 18300 work force spread across

1340 offices providing insurance cover to more than 1Crore policy holders. The Company has variety ofinsurance products to provide insurance cover frombullock carts to satellites.


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Vision of UIIC

The most preferred insurer in India, with globalfootprint & recognition.

Trusted brand admired by all stakeholders

The best-in-class customer service provider leveragingtechnology & multiple channels

The provider of a broad range of innovative productsto meet the needs of all customer segments

Great place to work with highly motivated andempowered employees

Recognized for its contribution to the society


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The Logo of UIIC


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DemographicsLocation

Registered & Head Office

United India Insurance Co. Ltd.24, Whites Road,Chennai - 600014Ph : 91-044-28520161

Corporate Learning CentreNALANDA Corporate Learning Centre.United India Insurance Co. Ltd.No.19, IV Lane (Beside M.O.P Vaishnav College)

Nungambakkam High RoadChennai 600 034, Tamil Nadu, IndiaPh : 91-044- 28332220/ 28330421 /28332040Fax: 91-044-28333470


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Legal structureJoint Ventures/Subsidiaries/Acquisition

12 Indian Insurance Companies, 4

Cooperative Insurance Societies and

Indian operations of 5 Foreign Insurers,

besides General Insurance operations ofsouthern region of Life Insurance

Corporation of India were merged with

United India Insurance CompanyLimited.


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Organizational Structure

Head Office Chennai

Regional Offices 25

Regional Cell 1

Large Corporate & Broker

Unit(LCBU)

2

Divisional Offices 362

Branch Offices 684Micro Offices 288

Total 1362


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Board of DirectorsLeadership

Shri G.Srinivasan , Chairman Cum Managing Director

Smt. Tarun Bajaj, Director, Govt of India

Shri T. M. Bhasin,Chairman & Managing Director,Indian Bank

Shri. Milind. A. Kharat , Director & General Manager ,

UIIC

Shri.V.Harshavardhan , Director & General Manager ,UIIC


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Organizational StructureManagement Hierarchy

Shri.G.Srinivasan

Chairman & Managing

Director

Shri. Tarun BajajJoint Secretary

(Department of Financial Services),

Govt of India

SHRI T M BhasinChairman & Managing Director

Indian Bank

Shri.Milind.A.Kharat

Director & General Manager

Shri.V.Harshavardhan

Director & General Manager

Shri.P.C. James

General Manager

Shri.Joseph J Plappallil

General Manager

Shri. B.M. Thakkar

General Manager

Financial Advisor

Smt. Asha Nair

General Manager Shri. B. Krishnamurthy

General Manager

Shri.S.P. Sinha

Chief Vigilance Officer


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Operational ProfileMajor Products/ Business Lines

1. Fire Insurance

2. Health Insurance

3. Motor Insurance

4. Marine Insurance

5. Industrial Insurance

6. Liability Insurance

7. Miscellaneous

Insurance

8. Credit Insurance

9. Micro insurance


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1. Fire Insurance

There are two types of

fire policies :

i) Standared fire andspecial perils policy

ii) Fire loss of profitpolicy


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2. Health Insurance

Health Policies

Family Medicare

Gold

Platinum

Senior Citizen

Super Topup

Topup


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3. Motor Insurance

Motor package and

Liability only policies


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4. Marine Insurance

There are two types

of marine policies :

i) Marine Cargo

ii) Marine Hull


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5. Industrial Insurance

There are six types ofindustrials policies :

i) Boiler and Pressureplant policy

ii) Contractor plant andMachinery policy

iii) Deterioration of stock

iv) Electronic equipmentpolicy

v) Machinery breakdownpolicy

vi) Industrial all risk policy


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6. Liability Insurance

There are five types of liability

policies :

i) Workman

compensationinsurance

ii) Public liability policy

iii) Product liability policy

iv) Professional indemnitypolicy

v) Motor liability policy


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7. Miscellaneous Insurance

There are six types of

miscellaneous policies :

i) Accident &

Hospitalization Policiesii) Social Policies

iii) Rural Policies

iv) Travel Policies

v) Package Policies

vi) Business Policies


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8. Credit Insurance

WHAT CAN BE INSURED

The interest of theEmployer in the money

or property lost due tothe infidelity of thenamed employee.

WHO CAN TAKE

INSURANCE

Employer of theCompany


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9. Micro Insurance

i) uni-micro insurance policy

ii) Floriculture insurance

iii) Cattle & livestock insurance

iv) Sericultre insurance

v) Farmers package policy

vi) Honey bee insurancevii) Mother Teresa woman &

children policy

viii) Rural accident policy

ix) Raja Rajeshwari mahilakalyan yogana

x) Janatha personal Accidentinsurance

xi) Gramin Accident policy


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Competitive Strengths

The competitive strength is better than thefollowing competitors :

ICICI Prudintial

Bajaj Allianz HDFC Standard

TATA AIG

MAX New Yark

AVIVA

OM Kotak Mahindra

ING VYSYA

MET Life


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Financial Summary(Financial Year - 2010-11 (HALF YEARLY )

BALANCE SHEET

Public Disclosures by Insurers

(As per IRDA's Circular

IRDA/F&I/CIR/F&A/012/01/2010

dated 28.01.2010)

source :

http://www.uiic.co.in/newwebsite/WebCont

ent/pdf/publicdisclosures/pub2010-

11_half/NL%203%20BALANCE%20SHEET.pdfClick Here
http://localhost/var/www/apps/conversion/tmp/scratch_2/balance%20sheet.xlshttp://localhost/var/www/apps/conversion/tmp/scratch_2/balance%20sheet.xls


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0

50000000

100000000

S1

Sources of Funds as at 30-9-2010

(Rs. ,000)

Series1

Series1 1500000 42370853 59886443

share capital RESERVES AND FAIR VALUE

Reserve &

Surplus


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Application of Funds as at 30-9-2010

(Rs. ,000)

0 50000000 100000000 150000000 200000000

INVESTMENT

LOANS

FIXED ASSET

Series1 159920510 4381006 975280

INVESTMENT LOANS FIXED ASSET


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Risks and Concerns

Business risks, or those associated with an organization'sparticular market.

Market risks, or those associated with changes in marketconditions, such as fluctuations in prices, interest rates, andexchange rates.

Credit risks, or those associated with the potential for notreceiving payments owed by debtors.

Operational risks, or those associated with internal system

failures because of mechanical problems or human errors

Legal risks, or those associated with the possibility of otherparties not meeting their contractual obligations.


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Key Success Factors ..

United India Insurance Company integrated its

learning management system, GeoLearning's

GeoMaestro, into SuccessFactors' Learning &

Development solution to tie its learning contentmanagement, content delivery, and activity

and employee progress measurement into its

performance and talent management system,

and connect learning activities to developmentgoals so that all of these activities can be

tracked and measured.


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.. Key Success Factors

i) Enable managers and employees to create focused, dynamic individualdevelopment plans based on competency gaps as well as employees'specific career aspirations;

ii) Improve the quality of the company's talent pool by developingcompetencies to support employees' current and future needs;

iii) Increase engagement and retention by creating appropriate careerpaths for all employees and giving them a way to interact directly withand work towards their learning goals by allowing them to create newdevelopment goals and proactively select learning activities

iii) Create a culture of development by clearly communicating goals and

progress so employees are more engaged and also understand thattheir development activities are not going unnoticed.


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Awards

CMD Shri G.Srinivasanreceived the award forexcellent implementation ofRashtriya Swastha Bima

Yojna in the state of Keralafrom Shri MallikarjunKharge,Hon'ble UnionMinister of Labour &Employment in thepresence of Shri V.S

Achuthanandan, Hon'bleChief Minister of Kerala


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Awards

CMD Shri

G.Srinivasan

received the award

for the Best Non-Life Insurer from

Hon'ble Finance

Minister Shri

Pranab Mukherjeeat NDTV Awards

2010.


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Awards

United India InsuranceCompany has beenselected as one amongthe top three General

Insurance companiesin Asia by AsiaInsurance Review atthe 14th AsiaInsurance IndustryAwards 2010 held in

Bali, Indonesia


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SWOT Analysis

THREATSOPPORTUNITIES

WEAKNESSSTRENGTH


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SWOT Analysis - Strength

Market position is

strong

Wide network

Large number of

customers

Brand image Better geographic

balances


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SWOT Analysis-Weakness

Has disadvantage due to last

entry

Fewer locations as comparedto other MNC banks

Service delivery perception is

weak


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SWOT Analysis-Opportunity

Branch expansion for rapidgrowth

Increase focus on valuecreation in whole insurance

Broadening of thedemographic base

Integrated sales and serviceapproach

Can offer a complete

insurance package underproposed corporaterelationship


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SWOT Analysis-Threats

The competitors of UIIC

ICICI Prudintial

Bajaj Allianz

HDFC Standard TATA AIG

MAX New Yark

AVIVA

OM Kotak Mahindra

ING VYSYA MET Life


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Company Initiatives & Strategy

The comprehensive SWOT profile of UnitedIndia Insurance Company (UIIC) provides anin-depth strategic analysis of the companysbusinesses and operations. The profile shows

a clear and an unbiased view of thecompanys key strengths and weaknesses andthe potential opportunities and threats. Theprofile helps formulate strategies that augment

the business by enabling to understandpartners, customers and competitors better.


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Annexure Press Releases

UNITED INDIA INSURANCE TIES UP WITH LICHFL FINANCIALSERVICES LTD.

UNITED INDIA INSURANCE COMPANY - FROM SUCCESS TOEXCELLENCE

JOINT PRESS RELEASE BY VIJAYA BANK AND UNITED INDIAINSURANCE CO LTD. AFTER THE SIGNING OF MOU ON 03.06.2010AT BANGALORE FOR THE DISTRIBUTION OF GENERAL

INSURANCE PRODUCTS.


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Sources of data collection

Secondary Data Collection

http://www.uiic.co.in Google Search

Yahoo Search
http://www.uiic.co.in/http://www.uiic.co.in/


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Thank You

Ranjit's United India Fire & General Insurance Companies Ltd

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Transcript of Ranjit's United India Fire & General Insurance Companies Ltd