Final Report ion
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Transcript of Final Report ion
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8/9/2019 Final Report ion
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USINESS PLANUSINESS PLANOR NEW ENTRANT INOR NEW ENTRANT INNSURANCE SECTORNSURANCE SECTOR
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IRDA regulation for setting new insurance company
Company has to deposit 100 Cr. For taking insurance license.Company has to strictly follow IRDA guidelines.Company will form under the company act 1956.
Insurance act 1938
Company has to disclose their financial position every year.In case of foreign partner Indian company will hold 74% andforeign partner will hold 26% stake.Company has to maintain 150% solvency ratio.
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ABOUT PATRENT COMPANY
NEW COMPANY
OWNERSHIP
LOCATION AND FACILITIES
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COMPANIES NAME AND LOGO
LE Insurance company ome one care
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OMPANY LOGO
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ObjectivesTo establish The People Insurance company in the
-market for quality and value priced insurance products.in Rural India
Maintain the standard service and also to ensure
.proper returns to policy holders in the long run Increasing awareness on financial security
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Management Summary
Organizational StructureOpportunities For New Entrants
Risk For New Entrant
Market Potential
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Current market size of insurance industry in India
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orecasted market size for 2010
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s per the forecasted market size
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: - ,OLICIES SOLD NON LIFE LIFE AND GENERALnsurer -006 07 -007 08
Public Sector 33972092 38547040
Private Sector 12692053 18703219otal 46664145 57250259
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orecasted sales for 5 years
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Competition
ocal independent brokers-Strengths alternate markets-Strengths Large advertising budget
( )ass Markets including other companies- .Strengths large advertising budget and very competitive prices
- Weakness not local and largely unknown to our clients at the
.present time
ur own Companies- ;Strengths already known to our clients will be competitively
.priced Weakness no prior experience in this field
roup Plans - ,teachers public employees- .Strength group pricing- , Weakness very little obviously since we insure very few of the.professions
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a r k et re se a r c h ind information bserve Yourompetition alk to Suppliers alk to Customers urveys and FocusGroups
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rket Analysiso know Customerhe Right Product
ositioning of Business
rket Segmentation
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.arketing planEmphasize service and ongoing support. We must avoid selling only one
policy at the lowest price for each customer and concentration account sellingwhich greatly enhances client retention.
Build an Insurance Partnership. The customer does not want to shop everyyear for a new broker. Concentrate on building a long term relationship with
our customers and make the client and our staff appreciate the value of a long-term relationship.
Focus on target markets. We must focus on personal and business customersthat we identify and select to insure, instead of allowing potential customers tochoose us, which could result in our brokerage attracting problem clients from
other brokers.
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arketing StrategyPromotion Strategy
Distribution Strategy
Positioning Strategy
Pricing Strategy
Sales Strategy
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nitial steps for setting THE PEOPLENSURANCE in the market mall towns and local recruits ffices and branchesPresence ew location nnovative chain strategy gent recruitment egional focus
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ORECSTED PROFIT FOR 5 YEARS
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ajor costs for the companyCommission payment
Operating expenses
Employee expenses
Advertisement and publicity
Training expenses
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RENDS OF COST OF DIFFERENT COMPANIES IN LAKHS
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DISCOUNT RATE 0.15
INITIAL INVETMENT -600.00
CASH FLOW 1 86.9
CASH FLOW 2 143.64
CASH FLOW 3 229.95
CASH FLOW 4 274.08
CASH FLOW 5 288.26
NPV $30.78
CALCULATION OF NPV
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NITIAL INVETMENT -600ASH FLOW 1 .6 9
ASH FLOW 2 .43 64ASH FLOW 3 .29 95ASH FLOW 4 .74 08ASH FLOW 5 .88 26
IRR %7
ALCULATION OF IRR
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HANK YOU