HDFC Life Insurance | Marketing of Services | 7 Ps of Services
1. Presented by –
Rishabh Sharma -37
Prerna Pawa - 210
Anushka Raz -121
Saumya Gulati - 346
Heena Kausar -378
Navneet Chandra - 450
Marketing Of Services
2. HDFC Standard Life Insurance Company (HDFC
Life) is a partnership between
long term in HDFC Ltd., India’s leading housing
finance institution and Standard Life, a global
vestment savings player.
ABOUT THE COMPANY
• Currently HDFC Ltd. Holds 61.63% and
Standard Life (Mauritius Holdings) 2006
Limited holds 35% of equity in HDFC Life,
while the rest is held by others.
• The company has covered over 8.7 lakh
lives over a decade.
• Highest CAGR of 26% AUM in the last 5
years amonst top 7th players including LIC.
OVERVIEW
Organization:- HDFC Life Insurance
Establishment:- August, 2000
Brand:- HDFC
Head Quarters:- Mumbai, India
Offices:- 414 HDFC Life offices in India.
International Offices:- Dubai, UAE with
service associates in Kuwait, Oman and Qatar
Competitors:- SBI Life Insurance, ICICI Prudential.
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3. 7 PS OF HDFC LIFE: PRODUCTS
.
Protection Plans
.
Retirement Plans
.
Health Plans
Savings and investment plans Children plans Woman’s plans
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4. 7 PS OF HDFC LIFE: PRICE
.
.
Reasonable pricing policy
It offers value for money services Company has also adopted
penetration policy
Flexible premium paying terms
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5. 7 PS OF HDFC LIFE: PLACE
.
.
.
It has 412 branches across country Strong distribution channel(includes
services of insurance agents,
insurance brokers)
Liaison office has
been established in
Dubai
Offers service in every part of India Multichannel network of HDFC
Life is in 80 cities in India
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6. 7 PS OF HDFC LIFE: PROMOTION
It does CSR activities to
improve conditions of
society
Most poplular tagline
“Sir Utha Ke Jiyo”
Successful advertising
campaigns have been launched
via radio, television
Ads are displayed in
magazine, hoardings
and newspaper
Official website that offers
relevant information
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7. 7 PS OF HDFC LIFE: PEOPLE
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Board of directors and
management team includes
esteemed members who are
leaders and visionaries
Hdfc Life has a
workforce of more
than 10000
Hdfc life’s finest
investment is its
human resource
They promote diversity in
organization
They promote diversity
in organization
8. 7 PS OF HDFC LIFE: PROCESS
Customer service
providing process is
very easy
Customer can either use the
office or customer support
service
Complete transparency
is there in the process
Online portals are easily
accessible
Responsive website
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9. 7 PS OF HDFC LIFE: PROCESS
1. You fill the
proposal
form
2. Pay the
applicable
premium
3. Receive a
payment
confirmation
from HDFC
online
4. HDFC life
evaluate your
profile and
ask for
further
requirements
if any
5. You fulfil
all the
requirements
6.Policy is
credited in
your EIA
account
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11. CUSTOMER LOYALTY PROGRAM
COMPREHENSIVE PROTECTION
Air Accidental death:
• In case of death in an Air accident, your nominated kin will receive a
compensation of Rs. 1 Crore
Emergency Overseas Hospitalization:
Protection worth up to Rs. 15 lakhs against any medical emergency when you are
travelling, and are outside your home country
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12. Service Guarantees
• Claim Settlement process in HDFC Life
• Claim Track Record for FY 2018 - 19
• At HDFC Life, we ensure a hassle-free and
uniquely sensitive claim experience. We are
always doing our utmost to enable faster
settlement of claims and our Claims Settlement
Ratio reflects our assurance.
• We have honored 99.03% Individual Claims!*
• Same Day Claims Processing: Claims processed
within 24 business hours for all claims over 3 years
from date of inception**
• Dedicated Claims Assistance:
We provide assistance at every step in the
claim settlement journey from form fill up to
document pick up.
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16. CUSTOMER FEEDBACK SYSTEM
Option 1: You can visit the nearest
HDFC Life branch.
Option 2: Write from your registered
email ID at service@HDFCLife.com
• Option 3: Website-https://www.hdfclife.com/customer-
service/grievance-redressal.
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17. HOW ONLINE GRIEVANCE REDRESSAL PROCESS WORKS?
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Level 1:If you are raising a concern for the first time, please fill the form below
18. 18
Level 2
If you are not satisfied with the response from Level 1, you can
reach out to the Associate Vice President - Customer Relations
(Level 2) by submitting the form below
19. Level 3
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You can reach out to the Grievance Redressal Officer/Sr. Vice President-Customer Relations
(Level 3) by submitting the form below. You will receive a response within 10 days of form
submission.
20. SELF SERVICE TECHNOLOGIES
• A broad view of self-service is an effective starting point
when developing innovative ways to enhance the
customer experience.
• Self-service is a strategy or mechanism that enables
people to accomplish tasks on their own
• To run the complete range of business from online tools
and mobile apps to websites and kiosks
If it enables customers to serve themselves
• Finding information
• Making purchases
• Booking reservations
• Managing money
• Checking in— consider it self-service
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21. SELF SERVICE TECHNOLOGIES IN HDFC LIFE INSURANCE
Integrated Technology and Processes
• Net banking, 3 click buy, ATM
• Faster processing through STP, e-KYC integration
• Customized NB and renewal collection process
• Mobile applications
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22. POWERFUL DIGITAL TOOLS TO SIMPLIFYING CUSTOMER SERVICE IN HDFC LIFE
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New My Account
One stop self serve solution
for information, transactions
and requests
Email Bot – SPOK
Automated &
instantaneous responses
Insta-suite
mobility apps
On-the-go transactions
and policy management
Twitter Bot -
NEO
On-the-go responses to
simple queries
Effortless
Payment options
Payment apps
Netbanking eSI and
eNACH
Chat Bot – Elle
24*7 service
• Easy access to premium
receipts/statements