Section 3, Group O1

Akshay Jain 14F304

Deepta Guha 14F315
Jangveer Singh 14F320
Priya Nair 14F334
Ravikeerthi Somayaji 14F336
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Contents
Index

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Topic

Slide Number

What is Insurance?

3-4

About the Company

5-6

Sector Analysis

Position & Reach of Birla Sun Life Insurance

Company Vision, Values and Strategy

Management Team and Key Committees

10

Plans & Riders

11

Business Continuity Plan

12

Awards

13

10

HR policies

14

11

Challenges

15

12

Press Releases

16

13

Media Coverage

17

14

SWOT Analysis

18

15

Conclusion

19

16

References

20

What is Insurance?
Agreement among two parties where one will
protect the other in case of any loss or
unexpected event.

Why do we need Insurance?

Early deaths
Increased spending in old age
Handy in meeting unexpected expenses
Tax benefits

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Key Terms

Sum Assured
Death Benefit
Riders
Surrender Benefit
Maturity Benefit

More about Insurance

Types of Insurance

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Processes Involved

About the Company

Birla Sun Life Insurance is a part of Aditya Birla Financial
Services.

Established in 2000.

Nine lines of businesses. One Financial Powerhouse

Birla Sun Life Insurance offers a wide range

It is a Joint venture between the Aditya Birla Group and Sun

Life Financial Inc.

Share Holding Pattern

protection solutions, children's future

solutions, wealth with protection solutions,
health and wellness solutions, as well as
retirement solutions.

24

Currently ranks 6 amongst the top private life

insurance companies in the country.
76

Aditya Birla Group

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Sun Life Financial INC.

5

A Company of Firsts
First Indian Insurance Company to introduce the following:
"Free Look Period
Unit Linked Life Insurance plans
Bancasurance
Sales Illustrations

First to sell policies through internet.

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Sector Analysis
India's life insurance sector is the worlds largest with

The cap on foreign direct investment (FDI) likely to be

36 crore policies.

increased from 26 per cent to 49 per cent.

It is forecasted to increase at a compound annual

The Insurance Bill approved by the Government of

growth rate (CAGR) of 1215 per cent in the next five

India expected to increase FDI inflows to US$ 10

years.
The total market size of the insurance sector in India
was US$ 66.4 billion in FY 13. It is projected to touch
US$ 350400 billion by 2020.

million in the short term.

India's insurable population is projected to touch 75

crore in 2020.

Life insurance to supplement financial savings and is

projected to be 35 per cent of total savings by the end of
this decade, as against 26 per cent in 200910.

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Position & Reach of Birla Sun Life Insurance

Aditya Birla Financial Services Group (ABFSG)
ranks among the top 5 fund managers in India
(excluding LIC) with an AUM of USD 20.4
billion.
As of March 31, 2014, the Sun Life Financial

Birla Sun Life Insurance has reach over 500 cities,

group of companies had total assets under

550

management of $671 billion.

partnerships with agents, brokers and banks.

branches,

1,05,000

advisors

and

100

The AUM of about Rs. 22,300 Crores

Capital base of about Rs. 2,200 Crores

(as on 30th September, 2013)
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Company Vision, Values and Strategy

Vision
To be a leader and role model in a broad
based and integrated financial services
business.

Strategy
To have an attractive product basket
with necessary changes as per the need
of the market, strong branding and pool

Values
Integrity: Honesty in every action
Commitment: Deliver on the promise
Passion: Energized action
Seamlessness: Boundary less in letter
& spirit

Speed: One step ahead always

of efficient people.
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Management Team and Key Committees

Management Team

Committees

Mr. Pankaj Razdan CEO & MD

Asset Liability Management

Mr. Sashi Krishnan CIO

Audit

Mr. Pramod Krishnamurthy Head IT

Investment

Mr. Saurov Ghosh Head HR & Training

Risk Management

Mr. Amit Jain - CFO

Policyholders Protection
Finance

Share Allotment
With Profits
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10

Plans & Riders

High Net Worth Plan

Accidental Death Rider

Insurance Term Plan

Term Rider

Premium Back Term Plan

Waiver of Premium

Money Back Plus

Saral Jeevan Plan

Savings Plans

Critical illness Rider

Dismemberment Rider
Critical Illness Woman Rider

Health Solutions
Rural Plans
Retirement Plans

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11

Business Continuity Plan

Crisis Management & Incident Response.

Data Back Up & Recovery.
Recovery of all critical business functions and supporting systems.
Alternate Recovery Sites.
Communication with customers, employees and other stakeholders.
Assurance to customers that they will continue to receive optimum customer services at all times.

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12

Awards
Year

Awarded From

Title

2012

The Institute of Chartered Accountants of India (ICAI)

'Gold Trophy' for Financial Reporting

2012

The South Asian Federation of Accountants (SAFA)

'Best Presented Accounts & Corporate Governance Disclosures Awards

2012

Golden Peacock Award

Excellence in Corporate Governance

2012

Effies

Gold in the 'Services category'

2012

Kaan awards

Best use of Radio

2012

Asian Confederation of Businesses

Best Employer Brand Award

2012

Golden Peacock HR Excellence

Golden Peacock HR Excellence Award

2011

BBC.com-Campaign India Digital Media Awards 2011

Gold - "financial services website" category for Birla Sun Life Insurance NotJobsButPassion microsite

2004

Hewitt

Hewitt Best Employers in India 2004

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13

HR Policies
Geography wise partners to aid employee interaction.
Initiative to speak your mind with HR

Purpose
Make the employees clear about

Trainings for new Joinees.

Nature of organisation

Monthly competency Training calendar.

What to expect from company

Routine medical check ups of project team members.

What company expects

Flexible work hours.

Acceptable and unacceptable behaviour

Paternity leaves for male managers.

Growth policy

No negotiation with any norm even at the loss of good

manpower.
Reward strategy based on skills, job difficulty, target
achievement and seniority.
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14

Challenges
Competition from public sector & foreign banks.

Timely update of portfolios.

Needs proper division of departments under heads.

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15

Press Releases
April, 2014 - Aviva to sell 26% stake sale in Indian joint

June, 2013 - Birla Sun Life

venture to Max Life Insurance, Birla Sun Life Insurance

Insurance

and HDFC Life Insurance.

whole life plan BSLI

Jan, 2014 - Birla Sun Life Insurance re-launched five life

insurance plans designed in accordance with the new

launches

new

Wealth Secure.
Birla

Sun

Life Insurance

product guidelines. It includes three non-participating

(BSLI) urges India to live

market-linked insurance plans, one participating whole

through the ups and downs of

life plan and one traditional participating endowment

life with confidence, with its

plan.

new campaign.

October, 2013 - Secure Your Familys Financial Needs at

Affordable Premiums with BSLI Savings Plan.

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Brand Ambassador Yuvraj Singhs real life story to inspire

India on the need for Wealth with Protection Solutions

16

News Coverage

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17

SWOT Analysis

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Strength
1. One of the largest distribution
networks in India.
2. Follows Six Sigma process.
3.Effective Risk Management
framework.
4. People centric HR Strategy.

Weakness
1. Fewer Plans for low income
group.
2. High advisory fees.

Opportunity
1. Rapid expansion in the
insurance sector
2. Government policies favouring
insurance domain.
3. Opportunity to expand its
products.

Threat
1. People still believe more in
public companies when it comes to
insurance.
2. Major threat from LIC.

18

Conclusion
Insurance sector playing major role in everybodys life.
Insurance becoming more important than ever.

Comprehensive range of products.

Benefit of life insurance with easy liquidity through lump sum cash.

Rural infrastructure to create cost effective distribution network across India.

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19

References
http://insurance.birlasunlife.com/Pages/Individual/About-Us/Overview.aspx accessed on 24.08.2014 at 11 A.M.
http://insurance.birlasunlife.com/Pages/Individual/About-Us/Our-People.aspx accessed on 24.08.2014 at 11 A.M.
http://insurance.birlasunlife.com/Pages/Individual/About-Us/Business-Continuity-Plan.aspx accessed on
24.08.2014 at 11 A.M.
http://insurance.birlasunlife.com/Pages/Individual/About-Us/Press-Media.aspx accessed on 24.08.2014 at 11 A.M.
http://insurance.birlasunlife.com/Pages/Individual/About-Us/Awards.aspx accessed on 24.08.2014 at 11 A.M.
http://en.wikipedia.org/wiki/Insurance accessed on 22.08.2014 at 8 P.M.
http://www.thehindubusinessline.com accessed on 22.08.2014 at 8 P.M.
http://dhavalbirla.blogspot.in/2013/02/yuvraj-singh-ad-for-birla-sun-life.html accessed on 24.08.2014 at 11 A.M.

http://www.livemint.com accessed on 22.08.2014 at 9 P.M.

http://www.stcthirdeye.com/insurance.htm accessed on 24.08.2014 at 11 A.M.
http://www.thehindu.com accessed on 22.08.2014 at 9 P.M.
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20