MADE BY:DISHA BANSALMBA 4501/11

FACT SHEETTYPE PRIVATE

INDUSTRY FINANCIAL SERVICES

FOUNDED 2000

MANAGING DIRECTOR AND CEO

JAYANT DUA

HEADQUATERS Birla Sun Life Insurance Company Limited6th Floor, Vaman CentreMakhwana Road, Off Andheri-Kurla RoadAndheri (East), Mumbai 400059

CAPITAL BASE Rs. 2450 crs

AUM Rs. 19725 crs

NUMBER OF LOCATIONS MORE THAN 600 BRANCHES

AREA SERVED INDIA

PRODUCTS INDIVIDUAL INSURANCE,GROUP INSURANCE,RURAL INSURANCE AND NRI INSURANCE

EMPLOYEES 88000 approx.

WEBSITE http://insurance.birlasunlife.com/

MISSION AND VISION

Vision  To be a leader and role model in a broad based and

integrated financial services business.

Mission  To help people mitigate risks of life, accident,

health, and money at all stages and under all circumstances

Enhance the financial future of our customers including enterprises

VALUES

Integrity Commitment Passion Seamlessness Speed

COMPITATORS

The following Data suggests that LIC of India is still the market leader followed by ICICI Prudential, HDFC Standard Life, SBI, Reliance, Bajaj, Birla Sun Life, Max New York etc.

SEGMENTING

TARGETING

POSITIONING

SEGMENTING

Demographic: It is basically on the basis age of people, there family background and they do there financial analysis.

Psychographic: They also check the interest of people i.e. which kind of insurance they want.

They are never preplanned that they will go and definitely sell the insurance.

TARGETING

They follow the NOPP: N=who has the need for insurance O=opportunity P=the person is physically fit P=the person has the paying capacity i.e.

financially good

POSITIONING

Birla Sun Life aims to position itself as an insurance company for all classes. As the premiums payable and the plans are flexible according to the customers choices every person right from a worker to a high class businessman can purchase a policy.

Two ads have been released – one each with cricketers

Virendra Sehwag and Yuvraj Singh – for the wealth with protection solutions. The positioning of “Jab tak balla chalega“ came in before the four cricketers – Yuvraj Singh, Virender Sehwag, Suresh Raina and Rohit Sharma – were roped in as brand ambassadors. With the coining of the tagline, it was thought that cricketers would be best suited for the communication endorsement.

Cont....

They believe in retaining there customers i.e.. always take care of old customers.

They believe in after sales which help them in positioning and remembering of there product or service.

Mouth to mouth publicity is the best for them.

4 P’s

PRODUCT

INDIVIDUAL INSURANCE

GROUPINSURANCE

RURALINSURANCE

NRIINSURANCE

PRICE

• The mortality rates are fixed by the IRDA.• Premiums are fixed by the company itself.

PLACE

PROMOTION

Promotion is done through various modes : Press release News coverage Media kit

Campaigns

Commercial films

The strategies that have been followed by BSLI in this stage are as follows:•Persuasive advertisements •Addition of new product features•It has shifted its focus from product-awareness to product-preference advertising

PRODUCT LIFE CYCLE

S W O T

Strength: Multi channel distribution and one of the largest

distribution networks in India. Superior risk management and investment framework. Customer centric products and services. Company has good numbers of HNI advisors. Different plan for different people.

Weaknesses: There are very less plans for the low income group

people. Fees for the advisors are higher than the others.

 

Opportunity: In spite of the market leadership of LIC, there is still a

major portion where it can focus. To associate with more HNIs. Threats: It is still difficult task to win the confidence of the public

towards private companies. The company is facing major threat from LIC – which is

an only government company. Plans for all income groups are not there which can create

adverse effect later on the market share of the company. 

THANK YOU …..