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New Insurance Players in India Overview

The document discusses the emergence of new players in the Indian insurance sector. It provides an overview of types of insurance, key insurance companies, and new entrants to the market. The regulatory body that oversees the insurance industry in India is also outlined. The insurance sector is described as important to the Indian economy by generating long-term funds and employment. While the recession impacted many industries, India's banking and insurance sectors remained strong due to the large population and untapped potential for growth.

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arinzota8053
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12 views19 pages

New Insurance Players in India Overview

The document discusses the emergence of new players in the Indian insurance sector. It provides an overview of types of insurance, key insurance companies, and new entrants to the market. The regulatory body that oversees the insurance industry in India is also outlined. The insurance sector is described as important to the Indian economy by generating long-term funds and employment. While the recession impacted many industries, India's banking and insurance sectors remained strong due to the large population and untapped potential for growth.

Uploaded by

arinzota8053
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd

EMERGENCE OF NEW

INSURANCE PLAYERS IN INDIA

:Prepared By:
Alfiya Vhora
Arin Zota
Chirag Jariwala
Manan Dholakia
Neha Ram
Upasana Tripathi
TODAY’S PRESENTATION
• What Is Insurance
• Types of Insurance
• New Entrants
• Insurance Companies
• Insurance Sector & Indian Economy
• Recession & Insurance Sector
• Marketing Strategy
• Who Rules…?
• ULIP as a Good Investment
What is Insurance?

• A policy from a large financial institution that


offers a person, company, or other entity
reimbursement or financial protection
against possible future losses , death.
Types of Insurance
• Life Insurance
• General Insurance
I. Fire Insurance
II. Marine Insurance
III. Inventory Insurance
IV. Health Insurance
V. Business Insurance
VI. Other insurance
Insurance Companies

General & Life Insurers General Insurers


• Future Generali India
• Bajaj Allianz
• IFFCO TOKIO General
• Birla Sun Life
Insurance
• HDFC Standard Life
• Oriental Insurance Co.
• ING Vysya
• New India Assurance
• Max NewYork Life
• Bharti Axa General Ins.
• Met Life
• Chola Mandlam General Ins
• SBI Life
• DKV Insurance Company
• Kotak Mahindra
• ERGO General Ins Co.
• Tata AIG
NEW ENTRANTS…
• Future Generali Ins Co.
• AEGON Religare
• IDBI Fortis
• Shriram Life Ins Co.
• Bharti AXA life Ins Co.
• Canara & HSBC life Ins Co.
• Star union Dai-ichi Life Ins Co.
Who Regulates….?

IRDA (1999)
• Insurance Regulatory Development Authority

• Protect the interest of the policy holder , to


regulate, promote & ensure orderly growth of
Insurance Industry.

[Link]
DIFFERENT TYPES OF PRODUCTS
TRADITIONAL PLANS UNIT LINKED PLANS

• It includes Pure life • It includes investment plus


insurance plans… safety plans…
- Whole life plan -Children plans
- Term plan -Retirement plans
- Money back plan -Simple Equity related
plans
Product differentiation…

• Less charge products.

• Guarantee return plans.

• Different plans.

• More fund options.

• auto switching options.


Comparison

TRADITIONAL PLANS UNIT LINKED PLANS


• Return- LESS MORE

• Safety- MORE MODERATE

• Tax Benefits - YES YES

• Liquidity - NO YES
[Link]
(2009)

[Link]
INSURANCE SECTOR AND INDIAN ECONOMY

• GDP

• Generates long term funds for infrastructure

• Social security to rural people

• Employment generation
RECESSION AND INSURANCE SECTOR

• Affected most of the industries

• Strong Banking and Insurance Sector

• Large population and untapped potential

• Estimated to grow by 200% in 2010-11


according to ASSOCHAM
Marketing Strategies of New Company
• Direct Marketing.
• Create hierarchy
• aggressive sales force
• expansion
• combo products
• incentives
• lead base selling
• innovative plans
• Direct customer service
Still who rules….
• LIC:- Life Insurance Corporation of India.

• Highest market share of 64%.

• No harm from new private players.

• Best in services.

• Customers confidence.

• Government support.
Good Option to Invest..
MF or Equity Property F.D ULIPS

Returns   X 

Safety X   

Tax Benefit X X  

Liquidity  X X 
IF ANY !!!

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