Birla Sun Life Insurance
Birla Sun Life Insurance
1
A Project Report On
BIRLA SUN LIFE INSURANCE
Submitted By
ONKAR MOHOLE (67) PARAS NATH VERMA (71) SHAMKANT SONAWANE (92) SOHAM JOSHI (97) SUHAS JAMBHALE (102) YASHWANT THAKUR (118) RAHUL PATIL (121)
Birla Sun Life Insurance
2
Contents
Topic 1. 2. 3. 4. About Insurance Sector Insurance sector in India About Birla Sun Life Products 4.1 Asset Allocation 4.2 Shares of Funds Scheme 5. Financial Performance 5.1 Income trends 5.2 Consolidated Net Revenue Mix 5.3 NET Profit after Tax Trends 5.4 New Business Growth 5.5 Total Policies Growth 6. Growth trends of Birla Sun Life Insurance 6.1 Growth in number of branches 6.2 Growth in Number of Agents 7. Strategy Followed 8. Competition 8.1 Market Share of all private cos. 9. SWOT Analysis 10. Awards
Page No. 3 5 7 8 9 9 11 12 13 13 14 15 15 16 17 19 20
Birla Sun Life Insurance Chapter 1
3
About Insurance Sector
“Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.” Terms in Insurance Sector: Sum assured: Refers to the amount for which the insurance cover is taken. Death benefit: The amount received from the insurance company on the death of the insured is known as death benefit. Riders: They are additional benefits that are added on to an insurance policy to make it more compatible to the needs of the policyholder. Riders are generally applicable only for life insurance and not for general insurance. Surrender Benefit: The sum of money an insurance company
1
A Project Report On
BIRLA SUN LIFE INSURANCE
Submitted By
ONKAR MOHOLE (67) PARAS NATH VERMA (71) SHAMKANT SONAWANE (92) SOHAM JOSHI (97) SUHAS JAMBHALE (102) YASHWANT THAKUR (118) RAHUL PATIL (121)
Birla Sun Life Insurance
2
Contents
Topic 1. 2. 3. 4. About Insurance Sector Insurance sector in India About Birla Sun Life Products 4.1 Asset Allocation 4.2 Shares of Funds Scheme 5. Financial Performance 5.1 Income trends 5.2 Consolidated Net Revenue Mix 5.3 NET Profit after Tax Trends 5.4 New Business Growth 5.5 Total Policies Growth 6. Growth trends of Birla Sun Life Insurance 6.1 Growth in number of branches 6.2 Growth in Number of Agents 7. Strategy Followed 8. Competition 8.1 Market Share of all private cos. 9. SWOT Analysis 10. Awards
Page No. 3 5 7 8 9 9 11 12 13 13 14 15 15 16 17 19 20
Birla Sun Life Insurance Chapter 1
3
About Insurance Sector
“Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.” Terms in Insurance Sector: Sum assured: Refers to the amount for which the insurance cover is taken. Death benefit: The amount received from the insurance company on the death of the insured is known as death benefit. Riders: They are additional benefits that are added on to an insurance policy to make it more compatible to the needs of the policyholder. Riders are generally applicable only for life insurance and not for general insurance. Surrender Benefit: The sum of money an insurance company