PR Project Lic

7/31/2019 PR Project Lic

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A

PUBLIC

RELATIONS

STUDYON

LIFE INSURANCE CORPORATIONOF INDIA

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INDEX

1. Acknowledgement 1

2. Objective 2

3. Introduction 2

4. LIC Corporate Profile 3

5. Objectives of PR in LIC 4

6. Organisation and Staffing of PR Department 5

7. Tasks and Activites under the purview of PR in LIC6

8. Publics important to LIC 79. Relationship with significant publics 8

10. Aim of Corporate Relation Fulfilled

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11. Appendix

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Citizens Charter

Press release

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OBJECTIVE and INTRODUCTION

OBJECTIVE

The basic objective of this project is to

study the application of public relations in Life Insurance Corporation

INTRODUCTION

Public Relations is defined as:

. . . . the planned effort to establish and improve the degree of mutual

understanding between an organisation or individual, and any groups of

persons or organisations, with the primary objective of assisting that

organisation or individual to deserve, acquire and retain a good

reputation.

-The Institute of Public Realtions

We live in an age of dependence in which all of us are increasingly

reliant upon one another for the satisfaction of our needs. The growingcomlexity of our society and the inevitable problems created have

nullified this concept of independence.

Never before has the opinion of publics been more essential to the

success of any organisation. Reliance of institutions on people has been a

very significant development of the 20th century.

There has been an ever growing need of PR in the day to day working of

organisations.

The project we have undertaken is an attempt to study this phenomenon

at Life Insurance Corporation.

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LIC CORPORATE PROFILE

Life Insurance Corporation of India is a wholly owned undertaking of the

Government of India.

Life Insurance Corporation of India was established by an Act of

Parliament on 1st September, 1956. Its Central Office is located in

Mumbai. It also has seven zonal offices each located in Mumbai(Western

Zone), New Delhi (Northern Zone), Kanpur (North-Central Zone),

Bhopal (Central Zone), Chennai (Southern Zone), Hyderabad(South-Central Zone), and Kolkotta (Eastern Zone).

It has a network of over 2000(2048) branches and more than nine lakh

agents.

Over 47 years, LIC has become a household name for providing security

for a lifetime and is synonymous to life insurance in India.

LIC ranks No.1 in the list of top 500 companies on the basis of Net

Worth(Rs. 15, 47, 951 million) as well as Net Profit(2,66,277 million)-

Dun & Bradstreet (India 500).

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OBJECTIVES OF PUBLIC RELATIONS IN LIC

The objectives of undertaking PR activities in LIC are manifold. In their

Citizens Charter the company states that:

TO THE COMMUNITY : We will

Conduct all aspects of our business keeping in view the

interests of the community and the national priorities;

Provide insurance cover and financial security to every

insurable segment including the socially and economicallyweaker sections of the society.

TO OUR CUSTOMERS : We will

provide them prompt, efficient and courteous service;

act as trustees of their funds and invest them to their best

advantage;

build and maintain enduring relationship;

keep them informed about our products and services etc.

TO OUR WORKFORCE : We will

promote a sense of participation and make them partners in

progress;

work towards ensuring their job satisfaction and sense of pride;

provide an environment and the opportunities for growth to

enable them to realize their full potential;

take steps to develop professional skills to enable them to

handle their assignments more efficiently.

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Organisation and Staffing of the Public Relations

Department

LIC is purely a service-oriented organisation. Moreover for

transacting with their customers and business associates the company

needs to develop and maintain cordial relations with various sections of

the society and various other agencies i.e. their publics. This makes the

role of PR in LIC even more important and vital.

The company has a huge and active Public Relations Department

which looks after the publicity of the various services offered,

maintaining cordial relations with the various publics, publishing of

journals, etc. and other PR activities.

Budget:

The management allocates Rs. 2-3 crores(approx.) annually to the

PR Department. This amount is then further allocated to the various

Zonal Offices which prepare their individual budgets according to theirrequirements.

Staffing Of PR Department

The Director-PR operates from the central office and has under

him a Chief PRO. Each Zonal Office has a Zonal Manager-PR under

whom is the Regional Manager-PR. Further under him is the Assistant

Secretary who works with his Subordinate staff to fulfill the day-to-day

activities of the PR Department.

A PR plan is made at the beginning of each accounting year for which the

Chairman appoints a PR Planning Committee. This committee comprises

of the Director PR, Chief PRO, etc.

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Tasks and Activities under the purview of PR at LIC

Of the various activities undertaken by Life Insurance Corporation

some are listed below:

1. Advertising

Though countywide advertising is done by the marketing department,

advertising locally in the various cities is handled by Zonal Offices.

The advertising strategy is very well planned and is largely aimed atimage building.

2. Organize press conferences

Press conferences are organized occasionally, generally when a new

policy is released or when the annual financial results are announced

or if something of significance has happened.

3. Issue Press Releases

Press Releases are issued both by the central office as well as thevarious zonal offices.

4. Participate in public awareness programmes

LIC has time and again joined itself with various community

development and awareness programmes for the cause of rural

development and infrastructure development.

Publics Important to LIC

INTERNAL PUBLICS

I. Employees

II. Employees families

III. Staff Unions

EXTERNAL PUBLICS

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I. Customers i.e. policy holders

II. Prospective Customers

III. Government Agencies

IV. Banks and Financial Institutions

V. Statutory Bodies e.g. IRDA(Insurance Regulatory and

Development Authority)

VI. Social Organisations

VII. Lawyers

VIII. Local Administration

IX. Media

X. General Public

XI. Auditors

RELATIONSHIP WITH SIGNIFICANT PUBLICS

Significant internal publics of the organisation are its

employees

employees families;and the

staff unions.

EMPLOYEE RELATIONS

In most Indian organisations, or companies, communications with

employees have so far been given a back seat as compared to external

communications. This has not been the case with LIC. It has through time

realised the importance of its internal publics.

LIC shares a good rapport with its employees. There are various staff

unions to take care of the employees rights. The company shares a

cordial and harmonious relationship with these unions.

The companys focus, as regards its employees, is on providing:

A healthy working environment; Employee friendly HRD policy;

Job security;

Training of Human resources;

Fully utilising its peoples talents and capabilities to

promote skills and competencies and broaden their

perspective;

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Handsome remuneration and perks.

The company achieves the above objectives by a number of means.

I. HOUSE JOURNALS

The corporation has a corporate house magazine YOGAKSHEMA

which chronicles corporate and organisational events and

pronouncements.

The corporation also releases a quarterly newsletter JANKALYAN

which serves the above mentioned purpose as well as acknowledgingemployee achievements and produce merit lists of employee

performance.

A news letter NILYAMDOT COM is also published by the

corporation which is developed by the children of the LIC employees

and is exclusively for children.

II. INTERACTION

The corporation also conducts open houses, meetings, seminars,workshops. This is done with the aim of facilitating two-way

communication.

III. REWARDS

Prizes are awarded to top performers at staff meetings and

conferences.

CONSUMER RELATIONS

In consonance with the changes taking place in the insurance market, the

corporation has undergone a transformation, simultaneously requiring a

revamp in its image. Systematic and focussed PR initiatives and

widespread publicity have resulted in markedly improved visibility. The

corporation has emerged with a much younger and sleeker image.

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A conscious effort was made to bring about a transformation in the

corporate image. Through various campaigns, the corporation tried to

depict the organisation as one oriented towards the younger generation.

The corporation advertising campaigns assisted the marketing strategies.

PR Activities for Consumer Relations

The business of insurance is purely service which cannot be seen or held.

Hence, the consumer relations activities of LIC concentrates on the

customer public and building relations with prospective customer.

The corporation has time and again made endeavors to reach out to the

consumers, interact with them and keep them satisfied.

The corporation tries to achieve its objective through a number of means

Oral Communication

Oral communication with the consumer public is the most effective

means of presenting facts and creating understanding of the

organisations policies and practices.

Employee-Consumer Communication :

The harmonious relationship that LIC has, through the years , built

and maintained with its customers has only been possible due to itsdedicated and committed team of Development Officers and scores

of Insurance Agents throughout the country.

Press Conferences

Press Conferences are organised to announce new appointments of

top executives, introduction of new schemes, etc.

Audio-Visual Communication

Television and Radio broadcasts are a basic medium of consumer

communication

Television and Radio advertising

The corporations advertisements reached nearly 25 crore people

through over 50 campaigns. There were 79 hours of TV

advertising and 408 hours of Radio advertising.

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Trans-slides

The Corporation has placed trans-slides at strategic places, like

Railway Stations and Airports, for maximum exposure to public at

large.

Printed Communication

At LIC printed communications are used in conjunction with oral

communication media.

Press Release

Press releases are frequently handed out to the media by the local

PR department on behalf of the company. These generally

comprise of any subject or issue concerning the company,containing information for policy holders or any item of news

value to the media and its readers.

Journals and Publications

The corporation takes out its annual working results and several

other publications from time to time to keep the public abreast of

the happenings and achievements at LIC.

Financial Results

The annual financial report of the corporation is published in the

National dailies and Is also circulated amongst the shareholders to

keep them informed. It also aims at attracting new investors.

Booklets, Brochures and Pamphlets

Booklets, Brochures and Pamphlets are generally taken out to

inform its internal and external public about its various new

schemes and act as an effective medium of print communication.

Posters and Hoardings

These tools are not only an advertising medium but also a very

effective PR tool. LIC uses posters and hoardings to get quick

public notice. Poisters and hoardings are widely placed throughout

the city at busy intersections like subways, railway stations,

roadsides, bus shelters, etc.

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Other Amenities Provided by LIC

WebsiteThe Corporations website www.licindia.com gives information

about the corporations products, services, subsidiaries and

addresses of branches and about premium payment through the

internet. It also provides

Press releases

News sections

Online policy status

Online Premium Payment

LIC has tied up with HDFC Bank, ICICI Bank, UTI Bank, Bank

of Punjab, Global Trust Bank, Corporation Bank, The Federal Bank

Ltd., Citibank, and service providors like Bill Junction.com,

timesofmoney.com to offer the online premium payment facility to

its customers in select cities.

Information Kiosks

The corporation has installed online information kiosks at

prominent places across the country. This provides information

about the Products, services and policy status reports to thecustomers.

Customer Contact Programme

The purpose of such a campaign is to strengthen the relationship

with the customers and to build bridges of understanding.

FINANCIAL RELATIONS

There are quite a few financial publics of LIC.

1) Government Agencies

2) Banks and Financial Institutions

3) Statutory Bodies e.g. IRDA(Insurance Regulatory and

Development Authority)

4) Auditors

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http://www.licindia.com/http://www.licindia.com/


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To communicate with them and to keep them informed of the companys

progress several activities are undertaken by the PR Deptt.

The Annual General Meeting

The Annual Report

The annual report is released annually to inform all publics

of the companys working results.

Chairmans Statement

The chairmans statement is a comprehensive guide to what the company

is and where it strives to be. It comprises of the corporations

corporate vision, philosophy and policies, management

contributions, future plans and a host of other such important

aspects.

COMMUNITY REALTIONS

LIC regularly provides Health vans to various organisations across the

country.

The corporation also sponsers many sports evenr\ts at the national level.

Numerous publicity projects with a social purpose are undertaken at thezonal level.

Recently the North Zone(Delhi) associated itself with the Perfect Health

Mela to propagate the cause of good health.

AIM OF CORPORATE RELATIONS FULFILLED AT LIC

The aim of any organisation is to create for itself:

A. CORPORATE IDENTITY

B. CORPORATE IMAGEC. CORPORATE CITIZEN

A. CORPORATE IDENTITY

Image Communicators/ Identity Creators

Company Logo

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The companys logo has become synonymous with insurance and

security in India.

Sign-up Line

We Know India Better

Company Publications

The company has a host of publications that comprise of in-house

journals, external newsletters, annual reports, etc.

Citizens Charter

The company philosophy goes a long way in creation of

harmonious relations with its publics. The citizens charter is a

comprehensive statement of the companys philosophy towards its

publics.

B. CORPORATE IMAGE

The above listed image communicators have been very successful in

creating a corporate image of LIC in the minds of the people over

the years since its establishment.

C. CORPORATE CITIZEN

With all its PR initiatives and activities, since its establishment, LIC has

proved to be a successful corporate citizen.

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Documents

PR Project Lic