Insurance Industry
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Transcript of Insurance Industry
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AGENDAABOUT INSURANCE INDUSTRY
SWOT ANALYSIS
EFE MATRIX
BCG MATRIX
PEST-LE-DLCSCC
MCKINSEY DPM
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INDIAN INSURANCE INDUSTRY
Private Sector (14)
Public Sector (1)
PublicSector (4)
Private Sector (9)
LIFE INSURANCE
NON LIFE INSURANCE
Industry Profile
Source IRDA Report April 2006
According to July Report
LIC-78.53%, others- 21.47%.
LIFE INSURANCE INDUSTRY
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SWOTStrength:
THE REACH
TRUST
AWARENESS AMONG THE PEOPLE
Weakness:
SLOW TO REACT TO CHANGING NEEDS
ALL PLANS DO’NT HAVE GOOD RETURN OPTION
ATTRITION RATE IS HIGH
MARGINAL PROFIT IS LOW
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Opportunities :
UNTAPPED MARKET
FDI
NEW FACILITIES
CONSIDERED AS A GOOD INVESTMENT OPTION
Threats :
NATURAL CALAMITIES
INSURANCE FRAUDS
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EXTERNAL FACTOR EVALUATION (EFE) MATRIX KEY EXTERNAL
FACTORSWEIGHT RATING WEIGHTED SCORE
OPPORTUNITIES:
Untapped market 0.25 2 0.50
FDI 0.15 3 0.45
New facilities 0.15 2 0.30
Considered as a good investment option
0.20 3 0.60
THREATS:
Natural calamities 0.10 2 0.20
Insurance Frauds 0.15 3 0.45
TOTAL 1.00 2.50
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Company Market share
(%)
Relative market share
Relative company sales
growth rate
(%)
Bajaj Allianz 26.49 1 215.17
ICICI Prudential 25.72 .97 156
Reliance 1.89 .07 105
SBI 8.08 .30 91
HDFC 10.04 .38 120
Shriram .10 .003 18
Sahara .21 .007 23
BCG MATRIX
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HIGH+437.5%
MEDIUM 0 (40.61%)
LOW-437.5%
BCG MATRIX (Only Private players) RELATIVE MARKET SHARE
(Bajaj Allianz)- 1.00 (Icici Pru) – 0.97 STAR
(Reliance)- 0.07(HDFC)- 0.38(SBI) -0.30 QUESTION MARK
CASH COW
(Sahara)0.007(Shriram)0.003 DOG
IND
US
TR
Y S
AL
ES
GR
OW
TH
RA
TE
High 1.00 Medium 0.5 Low 0.00
SOURCE:IRDA March 2006
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PEST-LE-DLCSCC ANALYSISPOLITICAL AND LEGAL ENVIRONMENT Legislation
Enforcement Foreign Direct Investment
ECONOMIC ENVIRONMENT
Changes in Income
Changes in consumers spending pattern Economic growth and development
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SOCIAL ENVIRONMENT Greater concern for ethics
Healthier life style
TECHNOLOGICAL ENVIRONMENT
Increased cost reduction
Fast pace of change
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DEMOGRAPHIC ENVIRONMENT: Changing family structure
Education Level Geographic Shifts
LABOUR MARKET
Willingness to perform social duty
High attrition Rate
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Suppliers
Customers
competition
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MCKINSEY DPMPARAMETERS HIGH MEDIUM LOW
1. INDUSTRY ATTRACTIVENESS √
2.AMOUNT OF COMP. √
3.MARKET CONCENTRATION √
4.SEASONALITY √
5.CYCLES OF DEMAND √
6.BUSINESS COMPETITIVE POSITION √
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CONTD……7.PRICE COMPETITIVENESS √
8.REPUTATION √
9.MARKET SIZE √
10.INDUSTRY PROFITABILITY √
11.QUALITY √
12.GEOGRAPHY √
13.CUSTOMER AND MARKET KNOWLEDGE
√