Sunil Hdfc Presentation
Transcript of Sunil Hdfc Presentation
-
7/31/2019 Sunil Hdfc Presentation
1/31
7/28/12
Presentation Time
-
7/31/2019 Sunil Hdfc Presentation
2/31
7/28/12
BEHAVIOUR
ON HDFC LIFE INSURANCE
Presented By:-
-
7/31/2019 Sunil Hdfc Presentation
3/31
Click to edit Master subtitle style
7/28/12
CONSUMER BUYINGBEHAVIOUR
OF HDFC LIFE INSURANCE
Under The Guidance of:VIKRAM SINGH
BRANCH DEVELOPMENT MANAGER
ON HDFC LIFE INSURANCE
-
7/31/2019 Sunil Hdfc Presentation
4/31
7/28/12
Things Covered
Introduction to industry
Background of HDFC
Introduction to the topic Research Methodology
Analysis and Interpretation
Results and suggestions
Bibliography
-
7/31/2019 Sunil Hdfc Presentation
5/31
7/28/12
INTRODUCTION TOINDUSTRY
Insurance sector in India is one of thebooming sectors of the economy and isgrowing at the rate of 15-20 per cent
annum. Together with banking services, itcontributes to about 7 per cent to thecountry's GDP. Insurance is a federalsubject in India and Insurance industry in
India is governed by Insurance Act, 1938,the Life Insurance Corporation Act, 1956and General Insurance Business(Nationalisation) Act, 1972, Insurance
Regulatory and Development Authority
-
7/31/2019 Sunil Hdfc Presentation
6/31
7/28/12
ABOUT HDFC STANDARDLIFE INSURANCE COMPANY
HDFC Standard Life InsuranceCompany is a joint venture betweenIndias largest housing finance
provider, HDFC, and the Europeslargest mutual life assuranceCompany, the Standard Life
Assurance Company (U.K). Theycame together in the year 1995 withthe aim to be top new life insurancecompany in the market. It hold amarket share of 8 percent in overall
-
7/31/2019 Sunil Hdfc Presentation
7/31
7/28/12
OUR VISION:-
To be the most successful andadmired life insurance company, whichmean that we are the most trustedcompany.
OUR Mission:-
We aim to be the top new lifeinsurance company in the market . Thisdoes not just mean being the largest or
the most productive company in the
-
7/31/2019 Sunil Hdfc Presentation
8/31
7/28/12
SUBSIDARY COMPANIES OFHDFC
HDFC Standard Life Insurance
HDFC Developers Limited
HDFC Investments Limited
-
7/31/2019 Sunil Hdfc Presentation
9/31
7/28/12
COMPANY PROFILE
Incorporation Year: 1995
Chairman : Mr. Deepak S Parekh
Group Operation Director: Ms.Marcia
Campbell
Website: www.hdfcstandardlife .com Listing : BSE, NSE
-
7/31/2019 Sunil Hdfc Presentation
10/31
7/28/12
Major Achievements ofHDFC SLIC
Indiasbestmanaged
-
7/31/2019 Sunil Hdfc Presentation
11/31
7/28/12
INTRODUCTION OF TOPIC
CONSUMERBUYING
BEHAVIOUR :
The term
-
7/31/2019 Sunil Hdfc Presentation
12/31
7/28/12
FACTOR AFFECTINGCONSUMER BEHAVIOUR
CULTURAL FACTORS
SOCIAL FACTORS
PERSONAL FACTORS
PSYCHOLOGICAL FACTORS
-
7/31/2019 Sunil Hdfc Presentation
13/31
7/28/12
Research methodology
Main Objective: To Studycustomer-buying behavior with afocus on market segmentation for
HDFC Life Insurance
Sub Objectives:-
1)To provide the company with
information of customer's Insurancepolicy if they have any and reasons foropting for that particular policies.
2 To know the most referred olic .
-
7/31/2019 Sunil Hdfc Presentation
14/31
7/28/12
Research Design Used
For this study, the descriptiveresearch design is used. Thepurpose of applying this method is to
describe the nature of a situation, asit exists at the time of the study andto explore the cause or causes of a
particularcondition Sampling Technique
Convenient sampling techniques is
used to determine the customer
-
7/31/2019 Sunil Hdfc Presentation
15/31
7/28/12
Technique of data collection
Data was collected throughdiscussions with employees of thecompany. And by personally
interviewing the customers of thecompany and throughquestionnaires.
-
7/31/2019 Sunil Hdfc Presentation
16/31
7/28/12
LIMITATION
Time constraint:- Limited timeavailable was not enough to convincethe people
Awareness:- People have not exactand appropriate knowledge about thelife insurance.
Some people feel that this work isnot respectful in the society. It is veryhard to shift the mind of eo le from
-
7/31/2019 Sunil Hdfc Presentation
17/31
7/28/12
Options Responses
Percentage
Salaried 53 53Professional 29 29
Business 12 12
Agriculture 6 6
Total 100 100
S alar ied 5P ro fes s iona l
B u s in e s s 1
A gri c u lt u re
k {
P r
A g r
(A). Occupation
Table No. 1.1
Analysis andInterpretation
Interpretation:The above Pie Chart indicates that 53% of the respondents belong to salariedclass while 29% of respondents are professional. Only 12% of respondentsbelong to business class and rest 6% are engaged in Agriculture
-
7/31/2019 Sunil Hdfc Presentation
18/31
7/28/12
Options Responses
Percentage
Up to Rs. 2,00,000 21 21
Rs.2,00,000- Rs. 5,00,000 63 63
Rs. 5,00,000 Rs. 8,00,000 11 11
Above Rs. 8,00,000 5 5
Total 100 100
(B). Annual Income
21%
63%
11% 5%ZI Y Up to Rs.
Zn ~ Rs.2,00, Z~
Z Rs. 5 ,00,0 Z
Z Above Rs.
Graph No. 1.2Table No.1.2
InterpretationThe above Pie Chart shows that 21% of respondents fall in group having income up to Rs. 2,00,00,63% of the respondents fall in the income group of Rs.2,00,000Rs.5,00,000,11% of therespondents in the income group of Rs.5,00,00 Rs.8,00,000 and only 5% of respondents fall inthe income group above Rs. 5,00,000.
-
7/31/2019 Sunil Hdfc Presentation
19/31
7/28/12
Options Responses
Percentage
Less than 2 Years 48 48
2 to 5 Years 37 37More than 5 Years 15 15
Total 100 100
(C). Duration of HDFC STANDARD as Insurance provider
Table No. 1.3
48%
37%
15%
Less than 2 Year
2 to 5 YearsMore than 5 Year
Interpretation:
The above Pie-Chart depicts that 15% people have insurance policies of HDFCStandard for more than 5 years, 37% people have policies from 2- 5 years (this showsthat people have started trusting HDFC as a brand) and 48 % are customers of HDFC
for less than 2 years.
Graph No. 1.3
-
7/31/2019 Sunil Hdfc Presentation
20/31
7/28/12
BENEFITSNO.OFRESPONDENT
SHARE (%)
Cover FutureUncertainty
55 55
Tax Deductions 20 20
Future Investment 25 25
TOTAL 100 100
(D). DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS
5 5
2 0
2 5C o v e r F u tu
U n c e r ta i n t
T a x D e d u c
F u tu re In v e
Graph No. 1.4
Table No. 1.4
INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest benefit ofan Insurance policy. Where as, 20% and 25% of them believe that the other benefitsare Tax deduction and future investments respectively.
-
7/31/2019 Sunil Hdfc Presentation
21/31
7/28/12
FEATURE NO.OFRESPONDENTS
SHARE (%)
Money BackGuarantee
15 15
Larger RiskCoverance
37 37
Easy Access toAgents
7 7
Low Premium 30 30
CompanysReputation
11 11
TOTAL 100 100
(E).DATA PROVIDES FEATURES OF INSURANCE POLICY THATATTRACTED RESPONDENTS
Ghraph No.1.5
FEATURES OF INSURANCE POLIC
15%
37%
7%
11%
30%
MONEY BACKGUAARENTEE
LARGER RISKCOVERANCE
EASY A CCESS TOAGENTS
LOW P REMIUM
REPUTATION OFCOMPANY
Table No. 1.5
INTERPRETATIONMajority of the respondent (37%) found Larger risk Coverance as the most attracted feature of theall. And (30 %) has attracted of low Premium.(15%) people has attracted of Money BackGuarantee.(11%) has attracted of Reputation of company. And (7%) has attracted of Easy Accessto Agents.
-
7/31/2019 Sunil Hdfc Presentation
22/31
7/28/12
Options Responses Percentage
Yes 92 92
o 8 8
Total 100 100
(f). Does HDFC STANDARD Provides Customers with theexpected features in a policy
92
8
0
20
40
60
80
100
Ser ies1 92 8
Yes No
Interpretation:The graph shows that 92% customers feel that HDFC STANDARD is providing insurance planswhich are up to their expectations and only 8% feels that the plans are not according to their wish.They pointed out the hidden charges which constitute a very small percentage.
Graph No 1.6
Table No.1.6
-
7/31/2019 Sunil Hdfc Presentation
23/31
7/28/12
Options Responses
Percentage
Yes 94 94
No 6 6
Total 100 100
(G). Proper solution to Insurance policy relating queries
9 4
6
0
1 0
2 0
3 0
4 0
5 0
6 0
7 0
8 0
9 0
1 0 0
Ser ies1 9 4 6
Ye s No
Interpretation:The graph depicts that 94% customers are satisfied with the customer care departmentof the company. Only 6 respondents were not satisfied with the query handling of thedepartment.
Graph No. 1.7
Table No. 1.7
-
7/31/2019 Sunil Hdfc Presentation
24/31
7/28/12
Options Response
s
Percen
tage
Yes 90 90
No 10 10
Total 100 100
(H) Satisfaction regarding Administration charges of HDFC STANDARD
9 0
1 0
0
10
20
30
40
50
60
70
80
90
S er ies 1 9 0 10
Y e s N o
Interpretation:
The graph shows that 90%respondents are satisfied with the administration chargesbeing charged by the company but 10% feel that administration fees should be reduced.
Table No. 1.8
Graph No.1.8
-
7/31/2019 Sunil Hdfc Presentation
25/31
7/28/12
Options Responses Percentag
e
Excellent 23 23
Very good 39 39
Good 30 30
Fair 8 8
Total 100 100
(I). Satisfaction Regarding Services of the HDFC STANDARD
2 3
3 9
3 0
8
0
5
1 0
1 5
2 0
2 5
3 0
3 5
4 0
E xc e lle n t Ve ry go o d G oo d F a ir
Interpretation:The above graph depicts that 30 percent of the respondents feel that service provided by thecompany are good, 30% respondents feel that services are very good and 23% rates the
services as excellent.
Table No. 1.9
Graph No.1.9
-
7/31/2019 Sunil Hdfc Presentation
26/31
7/28/12
Options Responses Percentage
Efficient staff 60/100 60
Attractive Plans90/100 90
Excellentcustomerservice
70/100 70
Easy BranchAvailability
66/100 66
(J). Strongest Point of HDFCSTANDARD
60
90
70 66
0
10
20
3040
50
60
70
80
90
Ser ies1 60 90 70 66
Eff icient stAttractive
Plans
Excellent
cus tom er
serv ice
Easy Bran
Av a ila bili ty
z
Interpretation:The bar- graph shows that the customer feels that the strongest point of HDFCStandard is the attractive plans, followed by excellent customer care, easy branch
availability and efficient staff.
Table No. 1.10
Graph No. 1.10
-
7/31/2019 Sunil Hdfc Presentation
27/31
7/28/12
FINDINGS
Most of the respondents belong to Salaried and professionalclass. Business class still needs to be tapped.
The clientele has increased in past 3 years, this shows thatpeople have started trusting HDFC STANDARD as a Brand.
Most of the respondents are satisfied with the insurance plansand services provided by HDFC STANDARD Life InsuranceCompany. The company is providing the customers a huge
product range which is customized according to the customers
requirements.
HDFC STANDARD provides Insurance plans which cover upall the features which customers want in their Insurance plans.
-
7/31/2019 Sunil Hdfc Presentation
28/31
7/28/12
The main reason due to which customers are choosingHDFC STANDARD as their insurance provider is the hugeproduct range which suits the requirements of all incomeand age groups. And
In their recommendations a few number of respondentsasked for lesser administration charges and no hiddencharges should be there.
85% of respondents are willing to invest in the companyin future. Satisfaction regarding the services provided by companyis rated as very good by the respondents. This shows thatthe company is working in accordance to its Vision.
Findings Continued.
-
7/31/2019 Sunil Hdfc Presentation
29/31
7/28/12
Making HDFC more accessible: Here I mean that as 80% of the population ofIndia is rural therefore HDFC must have there branches in important towns such asAmbala, Rohtak ,Panipat not only this will increase the awareness among peoplemore over it will help the company to acquire local market and cater to their needs
effectivelyThere should be a product with similar features and low initial premium:A product like Young star is suitable for all but the initial premium which cannot
be less than 18000 rs. is on the higher side , therefore the company should derive aproduct with similar features but with low initial premium so that it is affordable tonormal service class.. Market surveys should be conducted regularly so that to know aboutcustomer demands and changing needs: The company should know about thecustomers changing needs and demands by conducting market surveys which arehelpful in innovating a product which suits the Customers requirements.
There should be Training batches on weekends : It is advised that the companyshould have training batches for the already serving class on weekends , so that thewilling candidates can opt it as a part time business opportunity
-
7/31/2019 Sunil Hdfc Presentation
30/31
7/28/12
CONCLUSION
In India, insurance is generallyconsidered as a tax-saving deviceinstead of its other implied long-term
financial benefits. Indian people areprone to investing in properties andgold followed by banks deposits.
They selectively invest in shares alsobut the percentage is very small4.5%. Even to this day, Life insurancemarket has become more vibrant.
-
7/31/2019 Sunil Hdfc Presentation
31/31
7/28/12
BIBLIOGRAPHY
JOURNALS:Jamal Ahmad,
Naser Kamal,(2002) Journal of