Introduction:
INTRODUCTION
The liberalization of life insurance industry in India has opened a big bunch of activities for the sector itself. They have to do not only the business but also to spread awareness about insurance to the common mass. Having vague idea of life insurance customer does not know to go for whom, as they have many choices. All insurers have got chances to attract the customers in various ways. It is very important for an individual insurer to launch competitive product in the market to differentiate themselves from others by offering innovative products. It is very important for a company to win confidence of their sales forces, who are the real communicator in the market. Launching need based new products and updating existing products is a day- to-day exercise of every insurance company.
UNDERSTANDING LIFE INSURANCE
Insurance Association has defined insurance as follows:
“Insurance is the pooling of fortuitous losses by transfer of such risk to insurers, who agree to indemnify insured for such losses, to provide other pecuniary benefits on their occurrence, or to render services connected with the risk”.
Life insurance is a contract providing for payment of a sum of money to the person assured or failing him/her, to the person entitled to receive the same, on happening of a certain event.
A family is generally dependent for its food, clothing and shelter, on the income, brought by family’s breadwinner. The family is secure so long as this breadwinner is alive and capable of earning his income. A sudden death or inability may leave a family in financially difficult situation. Uncertainty of death is inherent in human life. This uncertainty makes it necessary to have some protection against the financial loss arising from death. And life insurance exactly offers this kind of protection.
Number of Pages of Project Report: 91
Package Includes: Project Report
Project Format: Document (.doc)
Table of Contents of Project Report:
1. Introduction
- Understanding Life Insurance
- A Brief History of Life Insurance
- Insurance Industry in India
2. About the Company: Max New York Life
3. Birla Sun Life Insurance Company Limited
- Channel Partners: Citi Bank, IDBI Bank, Karur Vyasa Bank
4. Aviva Life Insurance
- Channel Partners: ABN Amro Bank, American Express Bank, The Laxmi Vilas Bank Ltd, Canara Bank, Punjab & Sind Bank
5. Hdfc Standard Life Insurance Company Ltd.
- Channel Partners: HDFC Bank, Union Bank, Indian Bank,Saraswat Bank, Bajaj Capital
6. Icici Prudential Life Insurance
- Channel Partners: ICICI Bank, Bank of India, Lord Krishna Bank
7. Metlife India Insurance Company Pvt. Ltd.
- Channel Partners: J & K Bank, Dhanalaxmi Bank, Karnataka Bank, Karvy, Geojit Securities, Way2wealth
8. SBI Life Insurance
- Channel Partners: State Bank of India, Bajaj Allianz Life Insurance Co. Ltd.
9. Max New York Life Insurance and its channel partners
10. ING Vyasa Life in India
- Channel Partners
11. Kotak Mahindra Old Mutual Life Insurance Ltd. and its channel partners
12. The Tata Group and its channel partners
13. Bibliography
