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Mis For HDFC

This document summarizes the management information system (MIS) of HDFC Standard Life Insurance branch in Ranchi, India. The branch reports to a territory manager and uses an online system to track policies, customers, agents, daily transactions, and targets. It communicates with higher offices through an online link. The MIS helps maintain large amounts of data, process information easily, and generate various reports for decision makers. However, some manual work is still needed and more can be done to disseminate information through new technologies to improve customer service.

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Alankrita Mayura Minz
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141 views16 pages

Mis For HDFC

This document summarizes the management information system (MIS) of HDFC Standard Life Insurance branch in Ranchi, India. The branch reports to a territory manager and uses an online system to track policies, customers, agents, daily transactions, and targets. It communicates with higher offices through an online link. The MIS helps maintain large amounts of data, process information easily, and generate various reports for decision makers. However, some manual work is still needed and more can be done to disseminate information through new technologies to improve customer service.

Uploaded by

Alankrita Mayura Minz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Xavier's institute of social service

MIS-STRUCTURE OF
HDFC STANDARD LIFE
INSURANCE

GROUP MEMBERS

contents

INTRODUCTION
VISION & CORE VALUES
BRANCH UNDER STUDY
FUNCTIONS
ORGANISATIONAL SETUP OF HDFC
UNDERSTANDING MIS
ANALYSIS OF MIS
USE & ADVANTAGE OF MIS
FEEDBACK
RECOMMENDATIONS AND SUGGESTIONS

INTRODUCTION
Indias most respected private life insurance company. A company
that has already established itself as a company with a difference
in the last 4 years.
Experto Credite which means Trust the one who has proved it
Is the belief of the company.
The company got certificate of Incorporation on 14th August 2000.
HDFCSL became the first private sector life insurance company
when certificate of registration was granted on 23rd October2000.
HDFCSL has its Head Office in Mumbai. Zonal Office located in 5
different Zones, i.e. East, West, South, North & Central Zone.
It has various Regional office and under them are many branches.

VISION :
The most successful and admired life insurance

company, which means that we are the most trusted


company, the easiest to deal with, offer the best
value for money, and set the standards in the
industry. In short, The most obvious choice for all.

CORE VALUES:

INTEGRITY
INNOVATION
CUSTOMER CENTRIC
PEOPLE CARE
TEAM WORK
JOY & SIMPLICITY

BRANCH UNDER STUDY


The branch of HDFC Standard life visited by us

works in the following manner. The branch is


headed by territory manager Mr. Rakesh Shankar.
He directly communicates with the head office.
The target to be achieved by the manager is
further delegated to his branch manager. Finally
the branch manager Mr.Shaswat Majumdar in
Ranchi Branch further sub divides the target
amongst different sales development manager
working in a branch.
This company deals with different types of life as
well as non life insurance policies for the people.
They also deal with product life unit linked
policies, term policy, risk policy; cash back policy,
endowment plan and tax saving plans.

FUNCTIONS
Providing life insurance to Prospects.
Maintaining a record of advisor, SDMs and SSO.
Providing on time services to clients i.e. Intimating

the dues premiums.


Training Department to provide Training to advisor,
for updating skills and generating new ideas.
Providing medical facilities to clients for insurance
purpose.
Full fledge marketing department to support Advisor
and SSOs

ORGANIZATIONAL SET UP OF
HDFC STANDARD LIFE

H.O

ZONAL OFFICE

REGIONAL OFFICE

BRANCHES

TERRITORY
MANAGER

BRANCH
MANAGER

SALES
DEV.
MANAGER

AGENTS

SALES
DEV.
MANAGER

S.S.O

OPERATING
OFFICER

HEAD
OFFICE

FRONT
OFFICE

SALES
DEV.
MANAGER

AGENTS

TRAINING
DEPARTMENT

TERRITORY MANAGER
BRANCH MANAGER
P
E
O
N

SALES DEVELOPMENT MANAGER

SALES
TRAINING
SUPPORTING
DEPARTMENT
OFFICER

AGENTS

OPPERATING OFFICER
FRONT OFFICE
GUARDS

MARKETING
DEPARTMENT

M
E
D
I
C
A
L
D
E
P
A
R
T
M
E
N
T

UNDERSTANDING MIS OF THE


ORGANISATION
Information required and managed in the said branch

Branch maintains register for updating information and circulars


Inward register To update Information, instruction and circulars issued by head office,
zonal office & regional office.

Outward register to keep update of Information and data issued to head office, zonal
office & regional office.

All information like change in bonuses, change in policy terms etc which are required by

customers are put into notice board of the branch.


Branch maintains all information about policy holders by
Keeping their policy document.
Assigning serial number to policy holders.
Intimating the policy holders as and when their premium falls due.
Branch has computers to update day to day transaction
Computers which are used for daily premium collection.

ANALYSIS OF MIS
Total Branch Mechanization is used in Ranchi main

branch.
The main branch communicates with regional branch
and different branches by V-sat and ISDN leased line.
The Ranchi head office has on line link which works on
LIFE ASIA.
DBMS provides facilities to receive on line premium
from its customers.
It provides the branch easily take decision in case of
high sum assured risk.
It provide easy transfer of daily achieved target to its
head office.

System installed with stand by in which all back


ups are installed so that if any mishappening
occurs all data can be procured from it.

USE & ADVANTAGE OF MIS


Maintaining control over large amount of data.
Easy processing of data
Procurement of facts and figures in required
form and in time
Provide better and speedy customers service.
Analyze the branch level data for decision
making by higher authority
To generate various types of reports required
by different peoples like senior officer,
Regional administration

FEEDBACK
The branch has 30% dependency on manual

work.
There is less problem of duplication of data.
There is a good co-ordination between head
office, zonal office, regional office and branch
offices.
Automatic credit in customers bank account
and clearing takes place in 24 hours is
available

RECOMMENDATIONS &
SUGGESITIONS
They should set up information kiosks.
The company has its call centre and needs to open more
call centers which can help in information dissemination.
With a view to providing ease of tailor-made information,
the company should provide IVS (interactive voice system)
in local language.
The company should send message to cell phones of
advisors and customers about their premium dues.
The company should give information to advisor on their
cell phones about new and existing competition in the
branch.
The company should take more aggressive steps in
motivating their employees.
The company should create an enabling culture in
organization so as to achieve employees satisfaction as
well as customers satisfaction.
The company should revise its premium rates so as to grab huge
market share

t
h
a
n
k
y
o
u

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