3CS REPORT OF BIRLA

SUN LIFE INSURANCE

COMPANY

NAME : KEERTHI KUMARI

: FLEMING LOBO
: MOHAMMED ADNAN

CLASS : 1st YEAR MBA

SECTION :B
SUBMITTED TO : DEEPA NAYAK MAAM
Introduction:-
The Birla Sunlife Insurance Company was established in the year 2006, with a joint
venture of two leading companies likely Aditya Birla group and Sunlife
financials(USA). Birla Sun Life Insurance pioneered the unique Unit Linked Life
Insurance Solutions in India. Within 4 years of its launch, Birla Sunlife Insurance has
cemented its position as a leading player in the Private Life Insurance Industry.

Birla Sunlife insurance has been focus on Investment Linked Insurance

Products, supported with protection products to maintain leadership in product
innovation. Multi distribution channels- Direct Sales Force, Alternate Channels and
Group offering convenient channels of purchase to customers. It has established
Web-enabled IT systems for superior customer services to have issued policies over
the Internet. Corporate governance and a high degree of transparency in all
business practices and procedures to have an operational Business Continuity Plan
and all Strong fundamentals based on the Aditya Birla group's local insight and Sun
Life financials's global expertise.

The head office is situated in below address,

Birla Sunlife Insurance company ltd.

6th floor, Vaman center
Makhwana Road, Off andheri-kurla Road
Andheri(East),Mumbai-400059

The Branch office in Mangalore is located in:-

Birla Sunlife Insurance company ltd.

2nd floor, Premium Enclave
Light House Hill Road
Mangalore-575002
Vision:-
To create long term value along with market leadership

Missions:-

To help people mitigate risks of life, accident, health and money at all stages
and under all circumstances

Enhance the financial future of our customers, including enterprises.

Values:-

Integrity
Commitment
Passion
Seamlessness
Speed

BSLI has contributed significantly to the growth and development of the life
insurance industry in India by introducing unique Unit Linked Life Insurance
Solutions, pure term plan and a slew of innovative products. By adopting multi-
distribution channels such as Direct Sales Force, alternate channels and convenient
points of purchase, including selling its policies through the ban assurance route and
through the internet, BSLI has revolutionized the entire insurance policy-buying
experience.

Corporate governance and a high degree of transparency in all its business

practices and procedures, besides world-class processing capabilities and well-
prepared business continuity planning, have brought about the credibility that BSLI
enjoys among its patrons. The process of getting sales illustrations signed by
customers, offering a free look period on all policies, which are now standard norms
followed by the insurance industry, were introduced by BSLI.
 BSLI offers a spectrum of products to meet the growing needs of individuals and
group insurance through a multi channel distribution network. The company has
quadrupled its distribution network to over 600 branches and more than 100,000
advisors. With a rapidly growing national footprint, the company is now positioned to
capture an increased market share in the fast growing life insurance market.

Management :-

C.E.O
(ADITYA BIRLA
GROUP)
Mr.Kumar
Mangalam Birla

Investment Share Finance Risk Review

Board of Audit Committee Allotment
Committee Committee Committee
Directors Committee
Management Team:-
Products:-
For Groups:-
For Non-resident Indians:-

NRIs have played a very significant role in one way or other in helping our
country's economy grow. We at Birla Sun Life Insurance (BSLI) appreciate the effort
put in by you all in trying to make India a major economic power. BSLI offers
insurance solutions keeping in mind the needs of individual. It can be an ideal gift
from you to your loved and dear ones in India, because no matter where you are we
will be there to take care of your concerns back home.

Following are the plans offered to NRI:

Birla Sun Life Insurance Prime Life Premier

Birla Sun Life Insurance Prime Life
Birla Sun Life Insurance Flexi Life Line Plan
Birla Sun Life Insurance Flexi Save Plus
Birla Sun Life Insurance Flexi Cash Flow
Birla Sun Life Insurance Classic Life Premier
Birla Sun Life Insurance Single Premium Bond
Birla Sun Life Insurance Simply Life
Awards & Recognitions:-
 SWOT Analysis

Strengths:-

* Quality products

* Large networks

* Leading company in insurance sector

* Strong brand name Aditya Birla

* Over all market share 7% and above

Weakness:-

* Less awareness about all products of life insurance in market

* Low advertising

* Focus only on urban segments

Opportunities:-

* Scope for opening of new branches in state/country

* More branches will help in expanding business

* Increasing population will increase in insurance business

* Recruiting candidates helps to increase the business

Threats:-

* Market uncertainty (Recession)

* Consumers do not invest easily

* Consumer perception about Birla Sunlife Insurance is purely private company

Customers:-
The customers of the company are below,

Individuals:-
One who earns the monthly salary, Businessman,etc.

Groups:-
HUFs, Local committees, Co-operative societies..Etc

NRIs:-
Non-Resident Indians.

Competitors:-
Life insurance corporation

ING vysya life insurance

Max network life insurance

MetLife insurance

Aviva life insurance

Bharathi Axa life insurance

Bajaj Allianz life insurance

Tata AIG life insurance

ICICI Prudential Life Insurance

Reliance life insurance

Kotak Mahindra life insurance

COMPETITORS IN DETAIL:-

Aviva life insurance: Aviva Life Insurance Company India Pvt. Ltd. is a joint
venture between Aviva of UK and Dabur, one of India's leading producers of
traditional healthcare products. Aviva holds a 26 per cent stake in the joint
venture and the Dabur group holds the balance 74 per cent share.

Bajaj Allianz: Bajaj Allianz is a joint venture between Allianz AG one of the
world's largest insurance companies, and Bajaj Auto, one of the biggest 2 and
3 wheeler manufacturers in the world. Bajaj Allianz is into both life insurance
and general insurance. Allianz Group is one of the world's leading insurers
and financial services providers. Founded in 1890 in Berlin, Allianz is now
present in over 70 countries

HDFC Standard Life Insurance Co. Ltd: is a joint venture between HDFC Ltd.,
India's largest housing finance institution and Standard Life Assurance
Company, Europe's largest mutual life company. It was the first life insurance
company to be granted a certificate of registration by the IRDA on the 23rd of
October 2000.

ING Vysya Life Insurance Company Limited: is a joint venture between

Vysya Bank and ING Group of Holland, the world's 4th largest financial
services group, with presence across 50 countries, and a heritage of over 150
years.

Kotak Mahindra Old Mutual Life Insurance Ltd: is a joint venture between
Kotak Mahindra Bank Ltd. (KMBL), and Old Mutual plc. Kotak Mahindra is one
of India's leading financial institutions and offers a range of financial services
such as commercial banking.

 Life Insurance Corporation of India: (LIC) is an autonomous body
authorized to run the life insurance business in India with its Head Office at
Mumbai. It has been established by an act of the Parliament and started
functioning from 1/9/1956.

ICICI Prudential Life Insurance: ICICI Prudential life insurance is a part of

ICICI Bank.

Max New York Life Insurance Company Limited is a joint venture between
Max India Limited, a multi-business corporate, and New York Life
International, a global expert in life insurance. New York Life is a Fortune 100
company that has over 160 years of experience in the life insurance business.

MetLife India Insurance Co. Pvt Ltd is a joint venture between MetLife
Group and its Indian partners. The Indian partners include J&K Bank,
Dhanalakshmi Bank, Karnataka Bank, Karvy Consultants, Geojit Securities,
Way2Wealth, and Mini Muthoothu.

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of

the Reliance - Anil Dhirubhai Ambani Group. The company acquired 100 per
cent shareholding in AMP Sanmar Life Insurance Company in August 2005.
Taking over AMP Sanmar Life provided Reliance Life Insurance a readymade
infrastructure and a portfolio.

SBI Life Insurance is a joint venture between the State Bank of India and
Cardiff SA of France. SBI Life Insurance is registered with an authorized
capital of Rs 500 crore and a paid up capital of Rs 350 cores.

Tata AIG Life Insurance Company Limited is a joint venture between Tata
Group and American International Group, Inc. (AIG). Tata Group is one of the
oldest and leading business groups of India. Tata Group has had a long
association with India's insurance sector having been the largest insurance
company in India prior to the nationalization of insurance. The Late Sir Dorab
Tata was the founder Chairman of New India Assurance Co. Ltd., a group
company incorporated way back in 1919.
 Shriram Life Insurance Company Ltd is a joint venture between the Chennai-
based Shriram Group and the South African insurance major Sanlam. The
company launched its operation in India in December 2005

Market Analysis:-