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    A

    PROJECT STUDY REPORTON

    TRAINING UNDER TAKEN AT

    HDFC STANDARD LIFE INSURANCE COMPANY LTD.

    (Titled)

    Recruitment of Financialconsultants

    Submitted in the partial Fulfillment for

    the

    AWARD OF DEGREE OF

    BBA(2010-2011)

    Submitted to:- University Of Rajasthan ,Jaipur(raj.)

    Submitted By:-

    TARUN KUMAWAT

    BBA III Year

    VIDYASTHALI INSTITUTE OF TECHNOLOGY ,SCIENCE AND

    MANAGEMENT

    Prithviraj Nagar,Maharani Farm,Durgapura , Jaipur(raj.)

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    ACKNOWLEDGEMENT

    Memories give you the power to collect roses in the winter.

    I express my sincere thanks to my project guide Mr. Vimal modifaculty of Vidyasthali for guiding me right from the inspection

    till the successful completion of the project. I sincerelyacknowledge him for ascending their valuable guidancesupport for litereature, critical review of the project and aboveall the moralk support for he had provided to me with all stagesof this project.

    I would also like to thanks to Mr.Naveen sharma (BranchManager) and Vimal Modi (Professor) for their extreme supporthelp and cooperation throughout my project.

    TARUN KUMAWAT

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    STUDENT DECLARATION

    I here by declare that the project entitled Recruitment ofFinancial Consultants HDFC Standard Life InsuranceCompany Ltd. Vaishali Nagar Jaipur. Submitted in therecruitment for the degree of bachelor of BusinessAdministration to VIDYASTHALI INSTITUTE OF

    TECHNOLOGY, SCIENCE AND MANAGEMENT AFFILIATEDTO UNIVERSITY OF RAJASTHAN JAIPUR(RAJ.) is my original workand has not been submitted for the award of any otherdiploma, fellowship or other similar title or project.

    TARUN

    KUMAWAT

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    PREFACE

    As a part of course curriculum for a award of BBA,the studentshave to undergo practical traning for minimum 45 workingdays after the 3rd year.

    The underlying object of training is to provide the student withpractical aspect of the organizational working and corporateenvironment . such type of traning helps the students to workin a real industrial environment,to gain practical knowledgeand to build confidence. The idea & intention of taking traning

    in this field to came up to me because of tremendous changesand scope in insurance services.

    As a part of this trend, I took my traning at:

    HDFC Standard life insurance company Ltd.Gopalpura, jaipur

    This project deals with analysis of various insurance plans suchas protection, investment,pension saving plans of HDFCstandard life insurance company ltd. Even though I tried tomake efforts at my best there may be manymistakes,shortcomings in my project report which I hope will beforgiven by the reader.

    TARUN

    KUMAWAT

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    CONTENTS Page.no

    1. Introduction

    5

    2. Company Profile10

    3. Vision and Values of the Company 24

    4. Organization Hierarchy38

    5. Products of HDFCSLIC Ltd. 73

    6. SWOT Analysis74

    7. Findings 758. Conclusions 76

    9. Suggestion 77

    10. Bibliography 78

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    INTRODUCTION

    What is Insurance

    Every asset has a value for its owner and also for those who

    are benefited with the existence of that asset. Insurance is

    concerned with the protection of economic value of assets.

    All of us are interested in the creation of assets because:

    i. All assets have values.

    ii. They yield income to the owner.

    iii. They meet some other needs of the owner.

    iv. They may provide satisfaction of some needs and

    also yield income to the owner.

    Every asset has normally an expected lifetime. During this

    period, it is expected to perform and provide income/comfort to

    the owner. The owner, being aware of this, plans the things in

    such a way that by the time the expected lifetime of the asset

    expires, he is ready with the funds required for its replacement.

    In this way, he ensures that the value or income from the assetis not lost. Well, this appears to be a fine arrangement provided

    the asset completes its expected lifetime!

    All assets carry the risk of being destroyed or damaged. But all

    assets may not necessarily get destroyed or damaged. Only in

    a few instances, the probability turns out to be true and the

    asset gets actually lost or destroyed by accident or some other

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    unfortunate event before the completion of its expected

    lifetime. The owner and

    those deriving benefits from the asset will suffer because the

    arrangement to make available its substitute is not yet ready.

    Insurance is helpful in mitigating such adverse consequences.

    To sum up, assets are insured, as they are likely to be lost or

    made non-functional through an accidental occurrence.

    Insurance does not protect the assets. This means that

    insurance cannot prevent loss to the assets due to perils. Nor

    can insurance avoid the occurrence of the perils. It only

    compensates, may not be fully, the economic or financial lossresulting to the asset from such damage or destruction.

    Brief History of Insurance

    The beginning of insurance business is traced to the city of

    London. It started with the marine business. Marine traders,

    who used to gather at Lloyds coffee house in London, agreed

    to share losses to goods during transportation by ship. Marine

    related losses included:-

    Loss of ship by sinking due to bad weather in high seas.

    Goods in transit by ship robbed by sea pirates.

    Loss of or damage to the goods in transit by ship due to

    bad weather in high seas. The first insurance policy was

    issued in England in 1583.

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    Life Insurance in India

    In India, insurance started with life Insurance. It was in the

    early 19th Century when the Britishers on their postings in India

    felt the need of life insurance cover.

    It started with English Companies like... The European and the

    Albert. The First Indian insurance company was the Bombay

    Mutual Assurance Society Ltd., formed in 1870.

    In the wake of the Swadeshi Movement in India in the early

    1900s, quite a good number of Indian companies were formed

    in various parts of the country to transact insurance business.

    To name a few:: Hindustan Co-operative and National

    Insurance in Kolkata; United India in Chennai; Bombay Life,

    New India and Jupiter in Mumbai and Lakshmi Insurance in

    New Delhi.

    Nationalisation of Life Insurance in India

    In 1956, life insurance business was nationalized and LIC of

    India came into being on 1.9.1956. The government took over

    the business of 245 companies (including 75 provident fund

    societies) who were transacting life insurance business at that

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    time. Thereafter, LIC got the exclusive privilege to transact life

    insurance business in India

    Purpose and Need for Insurance

    Assets are likely to be destroyed or made non-functional

    due to accidental occurrences called perils. Assets can,therefore, be insured. A few examples of perils are: fire,

    floods, breakdowns, lightning, earthquake etc. Perils are

    the events. Risks are the consequential losses or

    damages.

    Possibility of damage to asset caused by any peril is the

    risk that asset is exposed to. Risk means uncertainty or unpredictability about future

    loss or damage, which may or may not happen. This refers

    to the losses, which may happen suddenly and

    unexpectedly.

    We can say that a human life is also an income-generating

    asset.

    Human life may be lost due to unexpected early death or

    become non-functional following sickness or disabilities

    cause by accidents.

    If this happens by the time one is on the verge of

    retirement when his income is about to cease, he might

    have made alternative arrangements to meet his needs.

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    But if this happens at a younger age when he is not expected

    to have made adequate alternative arrangement, those who

    are dependent on his income, will suffer. Insurance is

    necessary to help those dependent on his income.

    Types of Insurance

    Basically there are two types of Insurances:

    Non-Life Insurance

    Life Insurance

    INSURANCE

    NON-LIFE

    INSURANCELIFE

    INSURANCE

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    --MARINE

    INSURANCE

    --FIRE

    INSURANCE

    --MISCELLANEOUS

    INSURANCE

    VEHICLES

    FURNITURE BUILDING

    AIRCRAFTS

    GENERAL

    INTANGIBLES

    --ONLY HUMAN LIFE

    INSURANCE

    INCLUDES IN THIS

    CATEGORY

    --HUMAN BEINGS

    SICKNESS, ILLNESS

    AND OTHER

    ASSURANCE GIVEN

    IN THIS CATEGORY

    --LONG TERM

    CONCEPT

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    COMPANY PROFILE

    The HDFC Group

    HDFC was incorporated in 1977 with two primary objectives - to

    enhance housing stock in the country through housing finance

    systematically and professionally and promote home

    ownership. Today they are the largest resi