SlideShare ist ein Scribd-Unternehmen logo
1 von 61
BRIEF HISTORY OF LIFE INSURANCE IN INDIA ,[object Object]
1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company started its business.
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business.,[object Object]
. On  September 1st, 1956 Life Insurance Corporation of India was created, by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs 5 crore from the Government of India . With an objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.
The Life Insurance Corporation of India It is the largest life insurance company in India and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of 5 Trillion Rupees.
MISSION: "Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development."
VISION: "A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."
[object Object]
1970: It crossed to Rs.1000  crore.
1986: It crossed to Rs.7000  crore.
June 1989:LIC  housing finance limited (LICHFL) was established.MILESTONES OF LIC
Cont…. ,[object Object]
In 1990’s: LICHFC grew into a premium housing finance company, disbursing over Rs. 50 billion of loans.
In 2001: LIC NEPAL ,a joint venture company formed with the Vishal Group of Industries ,Nepal .,[object Object]
In 15th Oct 2005: It has crossed the milestone of issuing 1,01,32,955 new policies.
2006-07: LIC India’s number of policy holder crossed a whopping 200 million.(fourth in terms of population of the countries of the world),[object Object]
Life Insurance Corporation of India Type                 :  Government-owned corporation Founded          :  September 1, 1956 Headquarters :  Headquarters in Mumbai, India. 8 zonal Offices and 101 divisional offices  Branches          : 2048 Agents              : 1.2 million approx Industry           :  Life insurance Products          : Individual Life Insurance,Group Insurance and Pension Plans Total assets     : Rs 5 Trillion ($200 Billion USD) Employees      : 112,184 Parent             : NIL Subsidiaries   : LIC Housing Finance Limited, LIC(Nepal)Ltd, LIC(Lanka)Ltd,                             LIC(International)BSC(C),Behrain, Website         : http://www.licindia.com
OPERATIONS IN INDIA
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, and the corporate office in the year 1956. Today LIC functions with 2048 fully computerized branch offices, 100 divisional offices, 7 zonal offices and the Corporate office
FUNCTIONING:
AWARDS
GOLDEN PEACOCK AWARD FOR EXCELLENCE IN CORPORATE GOVERNANCE, 2007 CNBC Awaaz Consumer Awards 2008   ASIA BRAND CONGRESS BRAND LEADERSHIP AWARD 2008 Pitch Award -" Rank 1 " India's Top 50 service Brands
Trusted Brand Award 2009 in the Platinum category  Brand Equity Most Trusted Brand 2009 Top in Insurance Category Golden Peacock Innovative Product / Service Award - 2009
PROBLEMS RELATED TO LIC HRM: ,[object Object]
The corporation's managers were too bureaucratic.
The work culture in the organization was sloppy.
Strong trade unions made it difficult for managers to get the work done.
The corporation's development officers focused on their own earnings and incentives, rather than on customer satisfaction.,[object Object]
WHY GRADUATES? ,[object Object]
To increase the continuous link base with its clientele.
To set higher standards of quality in service and salesmanship in competition to those provided by private insurance players in the market.,[object Object]
A written examination is conducted and the qualifiers are issued license by the IRDA Act 1999
The license issued under the Act as per the norms of the Regulations is valid for a period of 3 years.
A 17-18 days training schedule covers the mandatory IRDA training requirements and LIC product training module.,[object Object]
Advisors can also qualify for the renowned MRDT (Million Dollar Round Table), an exclusive international insurance advisors club.
Attend seminars held at exotic international and domestic locations each year.,[object Object]
Up to 10% of 2nd and 3rd year premium
Up to 5% thereafter till the policies continuesEvery time a policy holder pays his installment premium, the agent receives his commission
CORPORATE SOCIAL RESPOSIBILITY The Corporation has been promoting Social Welfare through investments in Infrastructure and Social Sector which includes: ,[object Object]
Housing Sector,
Water Supply and Sewerage Projects/Schemes,
Development of Roads, Bridges & Road Transport.,[object Object]
Advancement of Education
Medical Relief
The advancement of any other object of general public utility.It also provides scholarships to students from economically weaker families for pursuing higher studies under the scheme “LIC GOLDEN JUBILEE SCHOLARSHIP”
OTHER CSR ACTIVITIES ,[object Object]
Chief Ministers’ Relief Funds of various states
Rajiv Gandhi Foundation to help relief measures in case of calamities such as Earthquake, Tsunami etc.,[object Object]
INSURANCE PLANS: Children plans     (JeevanKishore,JeevanChhaya etc) Plan for handicapped dependents    (JeevanAadhar , JeevanVishwas) Endowment assurance plans   (JeevanMitraJeevanJanraksha,JivanAmrit etc)
CONTD.. Money back plans (JeevanVarsha, JeevanSurabhi 15 ,20 ,25 years bimabachat etc.) Whole life plan (JeevanAnand , JeevanTarang etc.) Term assurance plan (Anmol Jeevan-1, Amulya Jeevan-1)
[object Object]
JeevanAkshay
New JeevanDhara
New JeevanSurakshaPENSION PLANS:
Market Plus  Profit plus Fortune plus Money Plus UNIT LINKED PLANS
SPECIAL PLANS ,[object Object]
Health protection plus
Health plus.
Special plan
Bimanivesh 2005

Weitere ähnliche Inhalte

Was ist angesagt?

Insurance regulatory and development authority of india ppt
Insurance regulatory and development authority of india pptInsurance regulatory and development authority of india ppt
Insurance regulatory and development authority of india pptPRASOON VERMA
 
0601044 icici prudential life insurance
0601044 icici prudential life insurance0601044 icici prudential life insurance
0601044 icici prudential life insuranceSupa Buoy
 
project-on-lic-SIDDANNA M BALAPGOL
project-on-lic-SIDDANNA M BALAPGOLproject-on-lic-SIDDANNA M BALAPGOL
project-on-lic-SIDDANNA M BALAPGOLSiddanna Balapgol
 
A project report on hdfc standard life insurance
A project report on hdfc standard life insuranceA project report on hdfc standard life insurance
A project report on hdfc standard life insuranceProjects Kart
 
Reliance life insurance project
Reliance life insurance projectReliance life insurance project
Reliance life insurance projectRahul Prakash
 
Distinguish between Public Sector Banks & Private Sector Banks.
Distinguish between Public Sector Banks & Private Sector Banks. Distinguish between Public Sector Banks & Private Sector Banks.
Distinguish between Public Sector Banks & Private Sector Banks. Somnath Pagar
 
Life insurance corporation ppt(1)
Life insurance corporation ppt(1)Life insurance corporation ppt(1)
Life insurance corporation ppt(1)Himani Desai
 
Insurance sector ppt
Insurance sector pptInsurance sector ppt
Insurance sector pptsachinverma
 
Summer training projects titles
Summer training projects titlesSummer training projects titles
Summer training projects titlesAmritansh Mishra
 
Insurance as an investment tool with regards to ULIP at Birla Sunlife Insurance
Insurance as an investment tool with regards to ULIP at Birla Sunlife InsuranceInsurance as an investment tool with regards to ULIP at Birla Sunlife Insurance
Insurance as an investment tool with regards to ULIP at Birla Sunlife InsuranceBhavesh Kundnani
 
Comparative analysis of insurance market in india on hdfc-life-1-1
Comparative analysis of insurance market in india on hdfc-life-1-1Comparative analysis of insurance market in india on hdfc-life-1-1
Comparative analysis of insurance market in india on hdfc-life-1-1Flex
 
Life insurance project(LIC)
Life insurance project(LIC)Life insurance project(LIC)
Life insurance project(LIC)Anil Goswami
 
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...
 A  Project Report on - FINANCIAL PERFORMANCE OF  LIC AND PRIVATE SECTOR LIFE... A  Project Report on - FINANCIAL PERFORMANCE OF  LIC AND PRIVATE SECTOR LIFE...
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...Karteek Chedadeepu
 
Kotak life insurance Project Report
Kotak life insurance Project ReportKotak life insurance Project Report
Kotak life insurance Project ReportAbhishek Keshri
 
IDBI FEDERAL LIFE INSURANCE CO LTD.
IDBI FEDERAL LIFE INSURANCE CO LTD.IDBI FEDERAL LIFE INSURANCE CO LTD.
IDBI FEDERAL LIFE INSURANCE CO LTD.Student
 
Regulatory framework of mutual funds
Regulatory framework of mutual funds Regulatory framework of mutual funds
Regulatory framework of mutual funds Syed Mohammed Asif
 

Was ist angesagt? (20)

Insurance regulatory and development authority of india ppt
Insurance regulatory and development authority of india pptInsurance regulatory and development authority of india ppt
Insurance regulatory and development authority of india ppt
 
0601044 icici prudential life insurance
0601044 icici prudential life insurance0601044 icici prudential life insurance
0601044 icici prudential life insurance
 
project-on-lic-SIDDANNA M BALAPGOL
project-on-lic-SIDDANNA M BALAPGOLproject-on-lic-SIDDANNA M BALAPGOL
project-on-lic-SIDDANNA M BALAPGOL
 
Lic projct
Lic projctLic projct
Lic projct
 
A project report on hdfc standard life insurance
A project report on hdfc standard life insuranceA project report on hdfc standard life insurance
A project report on hdfc standard life insurance
 
presentation on LIC company
presentation on LIC companypresentation on LIC company
presentation on LIC company
 
Reliance life insurance project
Reliance life insurance projectReliance life insurance project
Reliance life insurance project
 
Distinguish between Public Sector Banks & Private Sector Banks.
Distinguish between Public Sector Banks & Private Sector Banks. Distinguish between Public Sector Banks & Private Sector Banks.
Distinguish between Public Sector Banks & Private Sector Banks.
 
Life insurance corporation ppt(1)
Life insurance corporation ppt(1)Life insurance corporation ppt(1)
Life insurance corporation ppt(1)
 
Insurance sector ppt
Insurance sector pptInsurance sector ppt
Insurance sector ppt
 
Summer training projects titles
Summer training projects titlesSummer training projects titles
Summer training projects titles
 
Insurance as an investment tool with regards to ULIP at Birla Sunlife Insurance
Insurance as an investment tool with regards to ULIP at Birla Sunlife InsuranceInsurance as an investment tool with regards to ULIP at Birla Sunlife Insurance
Insurance as an investment tool with regards to ULIP at Birla Sunlife Insurance
 
Comparative analysis of insurance market in india on hdfc-life-1-1
Comparative analysis of insurance market in india on hdfc-life-1-1Comparative analysis of insurance market in india on hdfc-life-1-1
Comparative analysis of insurance market in india on hdfc-life-1-1
 
Life insurance project(LIC)
Life insurance project(LIC)Life insurance project(LIC)
Life insurance project(LIC)
 
LIC presentation... 001
LIC presentation... 001LIC presentation... 001
LIC presentation... 001
 
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...
 A  Project Report on - FINANCIAL PERFORMANCE OF  LIC AND PRIVATE SECTOR LIFE... A  Project Report on - FINANCIAL PERFORMANCE OF  LIC AND PRIVATE SECTOR LIFE...
A Project Report on - FINANCIAL PERFORMANCE OF LIC AND PRIVATE SECTOR LIFE...
 
AMFI
AMFIAMFI
AMFI
 
Kotak life insurance Project Report
Kotak life insurance Project ReportKotak life insurance Project Report
Kotak life insurance Project Report
 
IDBI FEDERAL LIFE INSURANCE CO LTD.
IDBI FEDERAL LIFE INSURANCE CO LTD.IDBI FEDERAL LIFE INSURANCE CO LTD.
IDBI FEDERAL LIFE INSURANCE CO LTD.
 
Regulatory framework of mutual funds
Regulatory framework of mutual funds Regulatory framework of mutual funds
Regulatory framework of mutual funds
 

Andere mochten auch

LIC AGENTS RECRUITMENT & TRAINING
LIC AGENTS RECRUITMENT & TRAININGLIC AGENTS RECRUITMENT & TRAINING
LIC AGENTS RECRUITMENT & TRAININGParas Khavadia
 
5778166 hdfc-standard-life-insurance-company-limited
5778166 hdfc-standard-life-insurance-company-limited5778166 hdfc-standard-life-insurance-company-limited
5778166 hdfc-standard-life-insurance-company-limitedPardeep Gupta
 
Promotional strategies
Promotional strategiesPromotional strategies
Promotional strategiesArpit Nigam
 
life insurance-TV commercials analysis
life insurance-TV commercials analysislife insurance-TV commercials analysis
life insurance-TV commercials analysisAKSHAY KHATRI
 
LIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURAT
LIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURATLIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURAT
LIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURATVinodkumar Hariani
 
Recruitment And Selection At Hdfc
Recruitment And Selection At HdfcRecruitment And Selection At Hdfc
Recruitment And Selection At HdfcVinod Prajapat
 
1. Insurance - Understanding insurance
1. Insurance - Understanding insurance1. Insurance - Understanding insurance
1. Insurance - Understanding insuranceKoffee Financial
 
benefits of online marketing for insurance marketing executive
benefits of online marketing for insurance marketing executivebenefits of online marketing for insurance marketing executive
benefits of online marketing for insurance marketing executiveAshish Kumar
 
Hdfc Standard Life Insurance Project Report
Hdfc Standard Life Insurance Project ReportHdfc Standard Life Insurance Project Report
Hdfc Standard Life Insurance Project ReportAbhishek Keshri
 
Investment Patterns in India
Investment Patterns in IndiaInvestment Patterns in India
Investment Patterns in IndiaVaibhav Sathe
 

Andere mochten auch (20)

LIC AGENTS RECRUITMENT & TRAINING
LIC AGENTS RECRUITMENT & TRAININGLIC AGENTS RECRUITMENT & TRAINING
LIC AGENTS RECRUITMENT & TRAINING
 
Life insurance policy
Life insurance policyLife insurance policy
Life insurance policy
 
HDFC
HDFCHDFC
HDFC
 
HDFC project report
HDFC project reportHDFC project report
HDFC project report
 
5778166 hdfc-standard-life-insurance-company-limited
5778166 hdfc-standard-life-insurance-company-limited5778166 hdfc-standard-life-insurance-company-limited
5778166 hdfc-standard-life-insurance-company-limited
 
PPT ON HDFC BANK
 PPT ON HDFC BANK  PPT ON HDFC BANK
PPT ON HDFC BANK
 
New ad guidelines 2014
New ad guidelines 2014New ad guidelines 2014
New ad guidelines 2014
 
hdfc insurance
hdfc insurancehdfc insurance
hdfc insurance
 
Promotional strategies
Promotional strategiesPromotional strategies
Promotional strategies
 
life insurance-TV commercials analysis
life insurance-TV commercials analysislife insurance-TV commercials analysis
life insurance-TV commercials analysis
 
LIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURAT
LIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURATLIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURAT
LIC OF INDIA, AGENT LIC, BE AN INSURANCE AGENT, LIC SURAT
 
insurance
insuranceinsurance
insurance
 
Recruitment And Selection At Hdfc
Recruitment And Selection At HdfcRecruitment And Selection At Hdfc
Recruitment And Selection At Hdfc
 
1. Insurance - Understanding insurance
1. Insurance - Understanding insurance1. Insurance - Understanding insurance
1. Insurance - Understanding insurance
 
Lic plan prasentation
Lic plan prasentation Lic plan prasentation
Lic plan prasentation
 
benefits of online marketing for insurance marketing executive
benefits of online marketing for insurance marketing executivebenefits of online marketing for insurance marketing executive
benefits of online marketing for insurance marketing executive
 
Hdfc Standard Life Insurance Project Report
Hdfc Standard Life Insurance Project ReportHdfc Standard Life Insurance Project Report
Hdfc Standard Life Insurance Project Report
 
Investment Patterns in India
Investment Patterns in IndiaInvestment Patterns in India
Investment Patterns in India
 
Insurance (1)
Insurance (1)Insurance (1)
Insurance (1)
 
Ifm ppt
Ifm pptIfm ppt
Ifm ppt
 

Ähnlich wie Lic manendra

348747 634041972004898786
348747 634041972004898786348747 634041972004898786
348747 634041972004898786Hetal Visaria
 
MARKETING STRATEGIES OF LIC
MARKETING STRATEGIES OF LICMARKETING STRATEGIES OF LIC
MARKETING STRATEGIES OF LICLakshay Tyagi
 
HDFC Standard Life Insurance Co- Group 1.pptx
HDFC Standard Life Insurance Co- Group 1.pptxHDFC Standard Life Insurance Co- Group 1.pptx
HDFC Standard Life Insurance Co- Group 1.pptxParthGarg58
 
Designing training program for max new york life
Designing training program for max new york lifeDesigning training program for max new york life
Designing training program for max new york lifeTanuj Poddar
 
LIC Sectoral Presentation
LIC Sectoral PresentationLIC Sectoral Presentation
LIC Sectoral PresentationNAINA
 
L I C & G I C
L I C &  G I CL I C &  G I C
L I C & G I Cbnharsha
 
189518270 bba-project
189518270 bba-project189518270 bba-project
189518270 bba-projectpawanmeena66
 
25098526 project-on-lic
25098526 project-on-lic25098526 project-on-lic
25098526 project-on-licSneha patel
 
Lic 2016 life insurance corporation
Lic 2016 life insurance corporationLic 2016 life insurance corporation
Lic 2016 life insurance corporationsachin kumar sharma
 
Complete project 00000000
Complete project 00000000Complete project 00000000
Complete project 00000000jyotish bharti
 
project on ulip vs mutual funds.corporate bonds,debt fund,etc
project on ulip vs mutual funds.corporate bonds,debt fund,etcproject on ulip vs mutual funds.corporate bonds,debt fund,etc
project on ulip vs mutual funds.corporate bonds,debt fund,etcjyotish bharti
 
Verve life insurance company
Verve life insurance companyVerve life insurance company
Verve life insurance companyAtul Gurav
 

Ähnlich wie Lic manendra (20)

348747 634041972004898786
348747 634041972004898786348747 634041972004898786
348747 634041972004898786
 
Second part
Second partSecond part
Second part
 
Executive summary
Executive summaryExecutive summary
Executive summary
 
Bunty bhagat
Bunty bhagatBunty bhagat
Bunty bhagat
 
MARKETING STRATEGIES OF LIC
MARKETING STRATEGIES OF LICMARKETING STRATEGIES OF LIC
MARKETING STRATEGIES OF LIC
 
Insurance sector
Insurance sectorInsurance sector
Insurance sector
 
Organisation study
Organisation study Organisation study
Organisation study
 
HDFC Standard Life Insurance Co- Group 1.pptx
HDFC Standard Life Insurance Co- Group 1.pptxHDFC Standard Life Insurance Co- Group 1.pptx
HDFC Standard Life Insurance Co- Group 1.pptx
 
Designing training program for max new york life
Designing training program for max new york lifeDesigning training program for max new york life
Designing training program for max new york life
 
LIC Sectoral Presentation
LIC Sectoral PresentationLIC Sectoral Presentation
LIC Sectoral Presentation
 
L I C & G I C
L I C &  G I CL I C &  G I C
L I C & G I C
 
Mfi 3 unit already
Mfi 3 unit alreadyMfi 3 unit already
Mfi 3 unit already
 
devlopment in financial institutation
devlopment in financial institutationdevlopment in financial institutation
devlopment in financial institutation
 
189518270 bba-project
189518270 bba-project189518270 bba-project
189518270 bba-project
 
Lic Ppt
Lic PptLic Ppt
Lic Ppt
 
25098526 project-on-lic
25098526 project-on-lic25098526 project-on-lic
25098526 project-on-lic
 
Lic 2016 life insurance corporation
Lic 2016 life insurance corporationLic 2016 life insurance corporation
Lic 2016 life insurance corporation
 
Complete project 00000000
Complete project 00000000Complete project 00000000
Complete project 00000000
 
project on ulip vs mutual funds.corporate bonds,debt fund,etc
project on ulip vs mutual funds.corporate bonds,debt fund,etcproject on ulip vs mutual funds.corporate bonds,debt fund,etc
project on ulip vs mutual funds.corporate bonds,debt fund,etc
 
Verve life insurance company
Verve life insurance companyVerve life insurance company
Verve life insurance company
 

Mehr von Manendra Shukla

Mehr von Manendra Shukla (20)

Marketing plan mt
Marketing plan mtMarketing plan mt
Marketing plan mt
 
modern trade - Bigdays
modern trade - Bigdaysmodern trade - Bigdays
modern trade - Bigdays
 
Jam presentation
Jam presentationJam presentation
Jam presentation
 
Tops pickle ppt
Tops pickle pptTops pickle ppt
Tops pickle ppt
 
Tomato ketchup
Tomato ketchupTomato ketchup
Tomato ketchup
 
Media presentation atl-jan, 2016
Media presentation atl-jan, 2016Media presentation atl-jan, 2016
Media presentation atl-jan, 2016
 
Modern Trade Tops
Modern Trade TopsModern Trade Tops
Modern Trade Tops
 
Choco flakes
Choco flakesChoco flakes
Choco flakes
 
Tomato ketchup brand plan
Tomato ketchup brand planTomato ketchup brand plan
Tomato ketchup brand plan
 
Pickle study questionnaire
Pickle study  questionnairePickle study  questionnaire
Pickle study questionnaire
 
Tops pickle brand plan
Tops pickle brand planTops pickle brand plan
Tops pickle brand plan
 
Cake mix
Cake mixCake mix
Cake mix
 
Brand Plan- Instant Mix
Brand Plan- Instant MixBrand Plan- Instant Mix
Brand Plan- Instant Mix
 
TOPS BAKING POWDER BRAND PLAN
TOPS BAKING POWDER BRAND PLANTOPS BAKING POWDER BRAND PLAN
TOPS BAKING POWDER BRAND PLAN
 
Market Analysis project Report 3M india ltd -manendra shukla
Market Analysis project Report 3M india ltd -manendra shuklaMarket Analysis project Report 3M india ltd -manendra shukla
Market Analysis project Report 3M india ltd -manendra shukla
 
Mini project report manendra shukla
Mini project report manendra shuklaMini project report manendra shukla
Mini project report manendra shukla
 
Mini project ppt
Mini project pptMini project ppt
Mini project ppt
 
Cox&king manendra shukla
Cox&king manendra shuklaCox&king manendra shukla
Cox&king manendra shukla
 
Project final manendra shukla.
Project final manendra shukla.Project final manendra shukla.
Project final manendra shukla.
 
My project 3 m - MANENDRA SHUKLA
My project 3 m - MANENDRA SHUKLAMy project 3 m - MANENDRA SHUKLA
My project 3 m - MANENDRA SHUKLA
 

Kürzlich hochgeladen

How to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityHow to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityEric T. Tung
 
Over the Top (OTT) Market Size & Growth Outlook 2024-2030
Over the Top (OTT) Market Size & Growth Outlook 2024-2030Over the Top (OTT) Market Size & Growth Outlook 2024-2030
Over the Top (OTT) Market Size & Growth Outlook 2024-2030tarushabhavsar
 
Power point presentation on enterprise performance management
Power point presentation on enterprise performance managementPower point presentation on enterprise performance management
Power point presentation on enterprise performance managementVaishnaviGunji
 
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai KuwaitThe Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwaitdaisycvs
 
Pre Engineered Building Manufacturers Hyderabad.pptx
Pre Engineered  Building Manufacturers Hyderabad.pptxPre Engineered  Building Manufacturers Hyderabad.pptx
Pre Engineered Building Manufacturers Hyderabad.pptxRoofing Contractor
 
PHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPanhandleOilandGas
 
Falcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business PotentialFalcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business PotentialFalcon investment
 
New 2024 Cannabis Edibles Investor Pitch Deck Template
New 2024 Cannabis Edibles Investor Pitch Deck TemplateNew 2024 Cannabis Edibles Investor Pitch Deck Template
New 2024 Cannabis Edibles Investor Pitch Deck TemplateCannaBusinessPlans
 
joint cost.pptx COST ACCOUNTING Sixteenth Edition ...
joint cost.pptx  COST ACCOUNTING  Sixteenth Edition                          ...joint cost.pptx  COST ACCOUNTING  Sixteenth Edition                          ...
joint cost.pptx COST ACCOUNTING Sixteenth Edition ...NadhimTaha
 
Falcon Invoice Discounting: Tailored Financial Wings
Falcon Invoice Discounting: Tailored Financial WingsFalcon Invoice Discounting: Tailored Financial Wings
Falcon Invoice Discounting: Tailored Financial WingsFalcon Invoice Discounting
 
Structuring and Writing DRL Mckinsey (1).pdf
Structuring and Writing DRL Mckinsey (1).pdfStructuring and Writing DRL Mckinsey (1).pdf
Structuring and Writing DRL Mckinsey (1).pdflaloo_007
 
BeMetals Investor Presentation_May 3, 2024.pdf
BeMetals Investor Presentation_May 3, 2024.pdfBeMetals Investor Presentation_May 3, 2024.pdf
BeMetals Investor Presentation_May 3, 2024.pdfDerekIwanaka1
 
Uneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration PresentationUneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration Presentationuneakwhite
 
Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...
Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...
Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...meghakumariji156
 
Putting the SPARK into Virtual Training.pptx
Putting the SPARK into Virtual Training.pptxPutting the SPARK into Virtual Training.pptx
Putting the SPARK into Virtual Training.pptxCynthia Clay
 
Paradip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDING
Paradip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDINGParadip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDING
Paradip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDINGpr788182
 
Falcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to ProsperityFalcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to Prosperityhemanthkumar470700
 
Rice Manufacturers in India | Shree Krishna Exports
Rice Manufacturers in India | Shree Krishna ExportsRice Manufacturers in India | Shree Krishna Exports
Rice Manufacturers in India | Shree Krishna ExportsShree Krishna Exports
 
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...Falcon Invoice Discounting
 

Kürzlich hochgeladen (20)

How to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityHow to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League City
 
Over the Top (OTT) Market Size & Growth Outlook 2024-2030
Over the Top (OTT) Market Size & Growth Outlook 2024-2030Over the Top (OTT) Market Size & Growth Outlook 2024-2030
Over the Top (OTT) Market Size & Growth Outlook 2024-2030
 
Power point presentation on enterprise performance management
Power point presentation on enterprise performance managementPower point presentation on enterprise performance management
Power point presentation on enterprise performance management
 
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai KuwaitThe Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
 
Pre Engineered Building Manufacturers Hyderabad.pptx
Pre Engineered  Building Manufacturers Hyderabad.pptxPre Engineered  Building Manufacturers Hyderabad.pptx
Pre Engineered Building Manufacturers Hyderabad.pptx
 
PHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation Final
 
Falcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business PotentialFalcon Invoice Discounting: Unlock Your Business Potential
Falcon Invoice Discounting: Unlock Your Business Potential
 
!~+971581248768>> SAFE AND ORIGINAL ABORTION PILLS FOR SALE IN DUBAI AND ABUD...
!~+971581248768>> SAFE AND ORIGINAL ABORTION PILLS FOR SALE IN DUBAI AND ABUD...!~+971581248768>> SAFE AND ORIGINAL ABORTION PILLS FOR SALE IN DUBAI AND ABUD...
!~+971581248768>> SAFE AND ORIGINAL ABORTION PILLS FOR SALE IN DUBAI AND ABUD...
 
New 2024 Cannabis Edibles Investor Pitch Deck Template
New 2024 Cannabis Edibles Investor Pitch Deck TemplateNew 2024 Cannabis Edibles Investor Pitch Deck Template
New 2024 Cannabis Edibles Investor Pitch Deck Template
 
joint cost.pptx COST ACCOUNTING Sixteenth Edition ...
joint cost.pptx  COST ACCOUNTING  Sixteenth Edition                          ...joint cost.pptx  COST ACCOUNTING  Sixteenth Edition                          ...
joint cost.pptx COST ACCOUNTING Sixteenth Edition ...
 
Falcon Invoice Discounting: Tailored Financial Wings
Falcon Invoice Discounting: Tailored Financial WingsFalcon Invoice Discounting: Tailored Financial Wings
Falcon Invoice Discounting: Tailored Financial Wings
 
Structuring and Writing DRL Mckinsey (1).pdf
Structuring and Writing DRL Mckinsey (1).pdfStructuring and Writing DRL Mckinsey (1).pdf
Structuring and Writing DRL Mckinsey (1).pdf
 
BeMetals Investor Presentation_May 3, 2024.pdf
BeMetals Investor Presentation_May 3, 2024.pdfBeMetals Investor Presentation_May 3, 2024.pdf
BeMetals Investor Presentation_May 3, 2024.pdf
 
Uneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration PresentationUneak White's Personal Brand Exploration Presentation
Uneak White's Personal Brand Exploration Presentation
 
Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...
Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...
Escorts in Nungambakkam Phone 8250092165 Enjoy 24/7 Escort Service Enjoy Your...
 
Putting the SPARK into Virtual Training.pptx
Putting the SPARK into Virtual Training.pptxPutting the SPARK into Virtual Training.pptx
Putting the SPARK into Virtual Training.pptx
 
Paradip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDING
Paradip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDINGParadip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDING
Paradip CALL GIRL❤7091819311❤CALL GIRLS IN ESCORT SERVICE WE ARE PROVIDING
 
Falcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to ProsperityFalcon's Invoice Discounting: Your Path to Prosperity
Falcon's Invoice Discounting: Your Path to Prosperity
 
Rice Manufacturers in India | Shree Krishna Exports
Rice Manufacturers in India | Shree Krishna ExportsRice Manufacturers in India | Shree Krishna Exports
Rice Manufacturers in India | Shree Krishna Exports
 
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
 

Lic manendra

  • 1.
  • 2.
  • 3. 1870: Bombay Mutual Life Assurance Society, the first Indian life insurance company started its business.
  • 4.
  • 5. . On September 1st, 1956 Life Insurance Corporation of India was created, by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs 5 crore from the Government of India . With an objective of spreading life insurance much more widely and in particular to the rural areas with a view to reach all insurable persons in the country, providing them adequate financial cover at a reasonable cost.
  • 6. The Life Insurance Corporation of India It is the largest life insurance company in India and also the country's largest investor. It is fully owned by the Government of India. It also funds close to 24.6% of the Indian Government's expenses. It has assets estimated of 5 Trillion Rupees.
  • 7. MISSION: "Explore and enhance the quality of life of people through financial security by providing products and services of aspired attributes with competitive returns, and by rendering resources for economic development."
  • 8. VISION: "A trans-nationally competitive financial conglomerate of significance to societies and Pride of India."
  • 9.
  • 10. 1970: It crossed to Rs.1000 crore.
  • 11. 1986: It crossed to Rs.7000 crore.
  • 12. June 1989:LIC housing finance limited (LICHFL) was established.MILESTONES OF LIC
  • 13.
  • 14. In 1990’s: LICHFC grew into a premium housing finance company, disbursing over Rs. 50 billion of loans.
  • 15.
  • 16. In 15th Oct 2005: It has crossed the milestone of issuing 1,01,32,955 new policies.
  • 17.
  • 18. Life Insurance Corporation of India Type : Government-owned corporation Founded : September 1, 1956 Headquarters : Headquarters in Mumbai, India. 8 zonal Offices and 101 divisional offices Branches : 2048 Agents : 1.2 million approx Industry : Life insurance Products : Individual Life Insurance,Group Insurance and Pension Plans Total assets : Rs 5 Trillion ($200 Billion USD) Employees : 112,184 Parent : NIL Subsidiaries : LIC Housing Finance Limited, LIC(Nepal)Ltd, LIC(Lanka)Ltd, LIC(International)BSC(C),Behrain, Website : http://www.licindia.com
  • 20. LIC had 5 zonal offices, 33 divisional offices and 212 branch offices, and the corporate office in the year 1956. Today LIC functions with 2048 fully computerized branch offices, 100 divisional offices, 7 zonal offices and the Corporate office
  • 23. GOLDEN PEACOCK AWARD FOR EXCELLENCE IN CORPORATE GOVERNANCE, 2007 CNBC Awaaz Consumer Awards 2008 ASIA BRAND CONGRESS BRAND LEADERSHIP AWARD 2008 Pitch Award -" Rank 1 " India's Top 50 service Brands
  • 24. Trusted Brand Award 2009 in the Platinum category Brand Equity Most Trusted Brand 2009 Top in Insurance Category Golden Peacock Innovative Product / Service Award - 2009
  • 25.
  • 26. The corporation's managers were too bureaucratic.
  • 27. The work culture in the organization was sloppy.
  • 28. Strong trade unions made it difficult for managers to get the work done.
  • 29.
  • 30.
  • 31. To increase the continuous link base with its clientele.
  • 32.
  • 33. A written examination is conducted and the qualifiers are issued license by the IRDA Act 1999
  • 34. The license issued under the Act as per the norms of the Regulations is valid for a period of 3 years.
  • 35.
  • 36. Advisors can also qualify for the renowned MRDT (Million Dollar Round Table), an exclusive international insurance advisors club.
  • 37.
  • 38. Up to 10% of 2nd and 3rd year premium
  • 39. Up to 5% thereafter till the policies continuesEvery time a policy holder pays his installment premium, the agent receives his commission
  • 40.
  • 42. Water Supply and Sewerage Projects/Schemes,
  • 43.
  • 46. The advancement of any other object of general public utility.It also provides scholarships to students from economically weaker families for pursuing higher studies under the scheme “LIC GOLDEN JUBILEE SCHOLARSHIP”
  • 47.
  • 48. Chief Ministers’ Relief Funds of various states
  • 49.
  • 50. INSURANCE PLANS: Children plans (JeevanKishore,JeevanChhaya etc) Plan for handicapped dependents (JeevanAadhar , JeevanVishwas) Endowment assurance plans (JeevanMitraJeevanJanraksha,JivanAmrit etc)
  • 51. CONTD.. Money back plans (JeevanVarsha, JeevanSurabhi 15 ,20 ,25 years bimabachat etc.) Whole life plan (JeevanAnand , JeevanTarang etc.) Term assurance plan (Anmol Jeevan-1, Amulya Jeevan-1)
  • 52.
  • 56. Market Plus Profit plus Fortune plus Money Plus UNIT LINKED PLANS
  • 57.
  • 63.
  • 64. Strengths: High penetration rate in rural area. It is the oldest and most well experienced player having a Pan India presence. LIC has a strong and very well developed distribution network It has a large product portfolio and claim settlement is easier to get. It has the advantage of government guarantee accompanied with it.
  • 65. Weakness: The corporation's managers are too bureaucratic. Inefficient use of its human resources. After sales ,customer grievance redressal mechanism is inefficient. Agents not taking into account the needs of people and promote policies having high commissions only.
  • 66. Opportunity: Emergence of a huge middle class income consumer market in the country. People becoming more aware and demanding so there is scope for a whole lot of innovative products. Pension markets, health insurance and large real estate portfolio. Strong growth potential.
  • 67. HOW?
  • 68. Threats: There is too much internal discord. Red-tapism is very much persistent. Entry of new private players in industry
  • 71.
  • 72.
  • 73.
  • 74. Strategy: In January 2000, International consultants Booze Allen & Hamilton were hired And it adopted a three-pronged business strategy for business, which involved Reduction in premiums, Higher returns and Introduction of new products.
  • 75.
  • 76. Spread of financial services in rural areas and amongst socially less privileged.
  • 77. Long term funds for infrastructure.
  • 78. Strong positive correlation between development of capital markets and insurance/pension structure.
  • 79.
  • 80. RATIONALE BEHIND THE INVESTMENT
  • 81.
  • 82. People repose a lot of faith in the LIC as when most of the private insurance firms were not showing any upward trend, LIC was one of the few players in the insurance sector to show surplus growth.
  • 83. LIC have hired about 5,000 employees and 500 officers despite the economic slowdown.
  • 84.
  • 85.
  • 87.
  • 89.
  • 90.
  • 92.
  • 95.
  • 96. REFERENCES:- Websites:- www.licindia.com www.wikipedia.org www.icallinsurance.com www.bimaonline.com www.irdaindia.org THE HINDU