A Presentation on organizational study of Reliance Life insurance M.G.

Road, Bangalore Ayan kapuria Registration NO 111GCMA016

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About The Industry

1818, British introduced the life insurance to India with the

establishment of the Oriental Life Insurance Company in Calcutta

There are three parties in a life insurance transaction: the insurer, the

insured, and the owner of the policy (policyholder), although the owner and the insured are often the same person.
Life Insurance contracts allow an individual to have a risk cover

against any unfortunate event of the future.

Life Insurance policies thus decrease the total taxable income of an

individual.
Insurance constitutes one of the major segments of the financial

market.
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About The Company

Reliance life insurance company limited is officially launched on 1st

February, 2006
It has offered need based life insurance solutions to individuals &

corporate
Reliance has 0.54% market share in the insurance sector A wide network of 1230 branches & 1,50,000 advisors in India It has net worth of over Rs 3,300 crore & over 165,000 share holder Its rank 3rd among the others insurance company There is only one public sector company LIC & rest 14 are private

sector
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Product Profile
Reliance has various product like as
Reliance Term Plan
Reliance Child Plan Reliance Endowment Plan Reliance Cash Flow Plan

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OPERATION & TURN OVER

Achieves 6 millions policies landmark in less than five years This company has world class data center, inter office connectivity

facility, customer care center, advisor lounge, document management system

A Company has crossed 1.7 Million policies last 2 years of operation,

post take over of AMP Sanmar business.

Last year Reliance Life insurance make profit almost 226 crore All the plans are very much beneficial for the customers.

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AWARD
Winner of

ACHIVEMENT QUTOS
Best non-urban Coverage award at Indian Insurance

Reliance Life Insurance gets ISO 9001- 2000 certification

awards 2011, Most trusted service brands 2011 & also won silver at the Indian Digital media award
Reliance life insurance has crossed the 6 million policy mile stone &

aims to achieve on overall premium of US $ 4.28 billion within the next 3 years
Think Bigger , Think Better

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VISION
Empowering everyone live their dreams

MISSION
The mission of Reliance Life Insurance Company Limited is to be the

best in every sphere- business results, customer care and employee focus OBJECTIVE
To get some good market exposure by dealing with the prospects

face to face
To improve our ability to sell a financial product like life insurance. To know the perception of the consumer about life insurance

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CEO

Head of Agency
Zonal Busines s Head

Head of TPD

Head of Finance

Head of CDA

Head of Product

Head of EBN

CRO

CHRO

Zonal Manager Territory Manager

Finance Team

General Manager Territory Manager

Zonal Manager Area Manager

Chief Risk Officer

Zonal HR Manager

Regional Manager
Branch Manager

HR Manager
Team of Employe e Risk

Sales Manager
Advisor
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Human Resource department

Recruitment Process
Selection Process Training & Development

Career development plans

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Marketing Department
Distribution channel promotional programmes Elite Club Membership

Incentives
Employee benefits

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Finance Department
Capital secure fund Balance fund Equity fund Growth fund

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Swot Analysis
SWOT analysis is the analysis of the internal and external factors STRENGTH
The brand name is enough to sell the products easily

Reliance has a long and strong history of solvency, financial stability.

Range of products

WEEKNESS
Newly established company, so people seems it risky
Lack of staff Lack of advertisement, so most of the customers are not aware of the

Reliance Life Insurance.

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OPPURTUNITY
Opportunities in the newer semi-urban & rural market Earning Urban youth looking for investments Increasing demands for insurance & pensions plan Growth prospects in emerging markets

THREATS
Economic crisis & global financial problem Entry of new NBFCs in the sector Competitive environment mounting insurance frauds US recession &

weakening of the financial marker

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Findings
As the people think that insurance is a tool to protect their family & a tax saving device. They are aware of the fact & realizing its, importance. The company should try to expand & build up its infrastructure because there is a large potential for

insurance in India.
As seen from the survey that at present 70% of the customer are having insurance policy out of which 87.5% of the customer are planning for new investments. So it can be a good potential for the company and they should make an attempt to trap these customers. Monthly meeting have been done by the Branch Manager where they will discuss about the sales figure at present and also for the upcoming days Branch manager motivates the Advisor & sales executive The 100 hours training is very useful to all the employees The human resource Department frequently arrange team building programs & fun event to improve moral of its employees
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Suggestion
The Company should have more concern about the Rural sector & also

comes with the more new branches with new plans

The company can provide the exciting gift which can be attractive to the

new customer & also for the existing customer

Advisor should be more knowledgeable about the product, various plans

which are available in the Reliance life insurance & try to build the better relationship with the clients
Since Reliance Life Insurance is leading with several companies policies it

should be easy for them to penetrate into the market and secure a good position if they pay greater attention to the service part provided to their customer and thereby forming a long and trusted relationship.

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Conclusion
Reliance Life Insurance has a good brand name which is very helpful to

grab the market

Company has 0.53% market share, as well as we have the various kind of

plan, product which is very much beneficial to satisfy the customer needs.
All plans are very attractive & premium also bit less than others market

players, but company should more concentrate about the product promotion, awareness in the rural sector
Company will work harder , honest towards work & maintain the healthy

relationship with every customers.

A good team effort is always makes a profitable sales figure.
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