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MetLife InsuranceCorporation Ltd
Life to us mean more than life
insurance. Its about
celebration of life, beginning &the financial freedom that leads
to life significance
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Financial freedom for all.
Building long term customer relationship
World class customer service
Innovative Market oriented Product line
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MetLife India Insurance Company Limited (MetLife) isan affiliate of MetLife, Inc. and was incorporated as a
joint venture between MetLife International Holdings,Inc., The Jammu and Kashmir Bank, M. Pallonji and Co.
Private Limited and other private investors.
It serves its customers by offering a range of innovativeproducts to individuals and group customers at more
than 600 locations through its bank partners andcompany-owned offices. MetLife has more than 50,000Financial Advisors, who help customers achieve peace ofmind across the length and breadth of the country.
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One simple Question but may actually beunderstood and answered..
Ifyou needProtectionIfyou needSavingsIfyou needInvestment
Ifyou needFinancial SecurityIfUnforeseen event can happen in future,and Moreover
Ifyoucare for your beloved Ones.
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Retirement Plan:New beginnings, new joys and the opportunity to explore the
unfulfilled dreams of the past - these are the essential
elements of a post retirement life. Financial independence is
very important at this stage. The exhaustive retirement plansof MetLife guarantee a financially secure retirement.
Met Growth
Met Advantage Plus Met Pension-Par
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Rural Plan: Met Vishwas
Met Suvidha-Rural
Investment Plan:
Met Easy
Met Smart Gold
Met Smart Plus-Regular Pay
Met Smart Premier- Regular Pay
Met Smart Plus- Single Pay
Met Smart Premier- Single Pay
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Health Plan: Health insurance plan from
MetLife helps to meet thecontingencies during ill health orill financial health consequentlyfor you and your family.
Its a long term plan which
covers you: Against Hospitalization
disbursements by offering you aDaily Cash benefit
Against 10 major vital illnesses
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Maximum/ Minimum age of entry18 years-55 years (At first entry, for the Principal insured)
3 months-55 years (For Secondary Insured lives)
Cover ceasing age 65 years
Maturity/Death Benefit No Maturity/Death Benefit payable
Benefits Offered
1. Daily Hospitalization Cash Benefit
2. Daily ICU Cash Benefit
3. Recuperation/Recovery Benefit
4. Critical Illness Benefit
5. Accidental Total & Permanent Disability
benefit
Premium paying frequency
Yearly. Half-Yearly mode is available only if each of
the persons insured select a daily cash benefit
of ` 3000 or more.
Modal factor
Half-yearly -0.5131. Multiply the tabular premium
by the modal factor to get to the figure as
premium payable.
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Developing a Sound Sales Planand Mgmt. Strategy
Developing Strong andInnovative distributionChannel
Banc assurance
Brand Building
Product Development
Public Relations and InternalCommunication
Recruitin D namic and Hi h
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Tele Marketing - Direct Marketing inwhich sales person uses telephone tosolicit prospective customers to buyproduct and services.
Database Marketing - Analyzecustomer database and use theresults to form future projection thathelp to improve efficiency anddevelop new products
Bancassurance -Selling of insurancethrough a banks establisheddistribution channels. Penetratingrural market using Banc assuranceMedium only
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Strong Parental SupportMetLife benefit from parent Companys Global presence
Proven Track Record
International Standard of Customer Service
Using Technology as Business Enabler
Uses a Software Module called AURA which automaticallyprocess an insurance proposal and issue the policy. It ensures
quick turnaround time and accuracy
Using Full Time Agents on Commission basis
Agents are Full Time Working on Commission basis
Reduce Fixed Cost
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Major Advertisement Campaign
Internet
Television and Audio
MediumsTelemarketing
Referrals
Personalization of Product andServices
Penetrating untapped Semi urbanand rural market
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Goal of 5 million customers by 2010
Further Expand operations to Class B and Class C
cities and part of rural India
Aggressive Growth plans of 100% for next 2-3years.
To capture a market share of 5% in Indian InsuranceSector
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StrengthsQuality Distribution channels
Strong Underwriting
Strong Brand NameQuality products and Services
WeaknessesLimited Market Penetration
Low Market Share
Not a well know name in Interiors ofIndia
FDI allowed only upto 26%
OpportunitiesCross sell financial Services areUntapped
Untapped Rural Market
Brand and Line Extension
Niche market
ThreatsIncreasing expenses and Low ProfitMargins
Government Regulations and
political situation
Vulnerable to entry of new Players
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Thank You.. .
For the IF in Life.
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