Scribd Logo
Upload

Welcome to Scribd!

  • 176 views

    ReLiance-Organisational Study

    Uploaded by

    Ayan Kapuria
    This document provides an overview of Reliance Life Insurance, including its history, products, operations, marketing, finance, HR departments, and SWOT analysis. Some key points: - Reliance Life Insurance was officially launched in 2006 and has over 1,200 branches across India. - It offers various life insurance products like term plans, child plans, and endowment plans. - In the last two years, the company has crossed 1.7 million policies and made a profit of Rs 226 crore last year. - The SWOT analysis found strengths in brand name and stability but weaknesses in newness and lack of awareness.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd

    ReLiance-Organisational Study

    Uploaded by

    Ayan Kapuria
    176 views17 pages
    This document provides an overview of Reliance Life Insurance, including its history, products, operations, marketing, finance, HR departments, and SWOT analysis. Some key points: - Reliance Life Insurance was officially launched in 2006 and has over 1,200 branches across India. - It offers various life insurance products like term plans, child plans, and endowment plans. - In the last two years, the company has crossed 1.7 million policies and made a profit of Rs 226 crore last year. - The SWOT analysis found strengths in brand name and stability but weaknesses in newness and lack of awareness.

    Original Description:

    its all about the organisational study.

    Original Title

    ReLiance-Organisational Study (2)

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides an overview of Reliance Life Insurance, including its history, products, operations, marketing, finance, HR departments, and SWOT analysis. Some key points: - Reliance Life Insurance was officially launched in 2006 and has over 1,200 branches across India. - It offers various life insurance products like term plans, child plans, and endowment plans. - In the last two years, the company has crossed 1.7 million policies and made a profit of Rs 226 crore last year. - The SWOT analysis found strengths in brand name and stability but weaknesses in newness and lack of awareness.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    176 views17 pages

    ReLiance-Organisational Study

    Uploaded by

    Ayan Kapuria
    This document provides an overview of Reliance Life Insurance, including its history, products, operations, marketing, finance, HR departments, and SWOT analysis. Some key points: - Reliance Life Insurance was officially launched in 2006 and has over 1,200 branches across India. - It offers various life insurance products like term plans, child plans, and endowment plans. - In the last two years, the company has crossed 1.7 million policies and made a profit of Rs 226 crore last year. - The SWOT analysis found strengths in brand name and stability but weaknesses in newness and lack of awareness.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 17

    A Presentation on organizational study of Reliance Life insurance M.G.

    Road, Bangalore Ayan kapuria Registration NO 111GCMA016

    R.V.INSTITUTE OF MANAGEMENT

    About The Industry


    1818, British introduced the life insurance to India with the

    establishment of the Oriental Life Insurance Company in Calcutta


    There are three parties in a life insurance transaction: the insurer, the

    insured, and the owner of the policy (policyholder), although the owner and the insured are often the same person.
    Life Insurance contracts allow an individual to have a risk cover

    against any unfortunate event of the future.


    Life Insurance policies thus decrease the total taxable income of an

    individual.
    Insurance constitutes one of the major segments of the financial

    market.
    R.V.INSTITUTE OF MANAGEMENT

    About The Company


    Reliance life insurance company limited is officially launched on 1st

    February, 2006
    It has offered need based life insurance solutions to individuals &

    corporate
    Reliance has 0.54% market share in the insurance sector A wide network of 1230 branches & 1,50,000 advisors in India It has net worth of over Rs 3,300 crore & over 165,000 share holder Its rank 3rd among the others insurance company There is only one public sector company LIC & rest 14 are private

    sector
    R.V.INSTITUTE OF MANAGEMENT

    Product Profile
    Reliance has various product like as
    Reliance Term Plan
    Reliance Child Plan Reliance Endowment Plan Reliance Cash Flow Plan

    R.V.INSTITUTE OF MANAGEMENT

    OPERATION & TURN OVER


    Achieves 6 millions policies landmark in less than five years This company has world class data center, inter office connectivity

    facility, customer care center, advisor lounge, document management system


    A Company has crossed 1.7 Million policies last 2 years of operation,

    post take over of AMP Sanmar business.


    Last year Reliance Life insurance make profit almost 226 crore All the plans are very much beneficial for the customers.

    R.V.INSTITUTE OF MANAGEMENT

    AWARD
    Winner of

    ACHIVEMENT QUTOS
    Best non-urban Coverage award at Indian Insurance

    Reliance Life Insurance gets ISO 9001- 2000 certification

    awards 2011, Most trusted service brands 2011 & also won silver at the Indian Digital media award
    Reliance life insurance has crossed the 6 million policy mile stone &

    aims to achieve on overall premium of US $ 4.28 billion within the next 3 years
    Think Bigger , Think Better

    R.V.INSTITUTE OF MANAGEMENT

    VISION
    Empowering everyone live their dreams

    MISSION
    The mission of Reliance Life Insurance Company Limited is to be the

    best in every sphere- business results, customer care and employee focus OBJECTIVE
    To get some good market exposure by dealing with the prospects

    face to face
    To improve our ability to sell a financial product like life insurance. To know the perception of the consumer about life insurance

    R.V.INSTITUTE OF MANAGEMENT

    CEO

    Head of Agency
    Zonal Busines s Head

    Head of TPD

    Head of Finance

    Head of CDA

    Head of Product

    Head of EBN

    CRO

    CHRO

    Zonal Manager Territory Manager

    Finance Team

    General Manager Territory Manager

    Zonal Manager Area Manager

    Chief Risk Officer

    Zonal HR Manager

    Regional Manager
    Branch Manager

    HR Manager
    Team of Employe e Risk

    Sales Manager
    Advisor
    R.V.INSTITUTE OF MANAGEMENT

    Human Resource department


    Recruitment Process
    Selection Process Training & Development

    Career development plans

    R.V.INSTITUTE OF MANAGEMENT

    Marketing Department
    Distribution channel promotional programmes Elite Club Membership

    Incentives
    Employee benefits

    R.V.INSTITUTE OF MANAGEMENT

    10

    Finance Department
    Capital secure fund Balance fund Equity fund Growth fund

    R.V.INSTITUTE OF MANAGEMENT

    11

    Swot Analysis
    SWOT analysis is the analysis of the internal and external factors STRENGTH
    The brand name is enough to sell the products easily

    Reliance has a long and strong history of solvency, financial stability.


    Range of products

    WEEKNESS
    Newly established company, so people seems it risky
    Lack of staff Lack of advertisement, so most of the customers are not aware of the

    Reliance Life Insurance.

    R.V.INSTITUTE OF MANAGEMENT

    12

    OPPURTUNITY
    Opportunities in the newer semi-urban & rural market Earning Urban youth looking for investments Increasing demands for insurance & pensions plan Growth prospects in emerging markets

    THREATS
    Economic crisis & global financial problem Entry of new NBFCs in the sector Competitive environment mounting insurance frauds US recession &

    weakening of the financial marker

    R.V.INSTITUTE OF MANAGEMENT

    13

    Findings
    As the people think that insurance is a tool to protect their family & a tax saving device. They are aware of the fact & realizing its, importance. The company should try to expand & build up its infrastructure because there is a large potential for

    insurance in India.
    As seen from the survey that at present 70% of the customer are having insurance policy out of which 87.5% of the customer are planning for new investments. So it can be a good potential for the company and they should make an attempt to trap these customers. Monthly meeting have been done by the Branch Manager where they will discuss about the sales figure at present and also for the upcoming days Branch manager motivates the Advisor & sales executive The 100 hours training is very useful to all the employees The human resource Department frequently arrange team building programs & fun event to improve moral of its employees
    R.V.INSTITUTE OF MANAGEMENT

    14

    Suggestion
    The Company should have more concern about the Rural sector & also

    comes with the more new branches with new plans


    The company can provide the exciting gift which can be attractive to the

    new customer & also for the existing customer


    Advisor should be more knowledgeable about the product, various plans

    which are available in the Reliance life insurance & try to build the better relationship with the clients
    Since Reliance Life Insurance is leading with several companies policies it

    should be easy for them to penetrate into the market and secure a good position if they pay greater attention to the service part provided to their customer and thereby forming a long and trusted relationship.

    R.V.INSTITUTE OF MANAGEMENT

    15

    Conclusion
    Reliance Life Insurance has a good brand name which is very helpful to

    grab the market


    Company has 0.53% market share, as well as we have the various kind of

    plan, product which is very much beneficial to satisfy the customer needs.
    All plans are very attractive & premium also bit less than others market

    players, but company should more concentrate about the product promotion, awareness in the rural sector
    Company will work harder , honest towards work & maintain the healthy

    relationship with every customers.


    A good team effort is always makes a profitable sales figure.
    R.V.INSTITUTE OF MANAGEMENT

    16

    R.V.INSTITUTE OF MANAGEMENT

    17

    You might also like