Project Vinu

7/21/2019 Project Vinu

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EXECUTIVE SUMMARY

Monopoly of LIC has been broken to make Indian Insurance to change its face and

pace to tap the market and to make the new challenges in it. Insurance in India is not about

India only; it is an open sector for the private players. The name which you would see in

Indian insurance market is something like: !"#"# $Indian company% & "llian' $foreign

player%( T"T" $Indian company% & "ig $foreign player% and so many like them. Companies

now are tapping a lot of ways to capture the market and hence adopting different ways to hold

the large portion of the market. My pro)ect was to understand the different marketing

strategies adopted by the companies to increase their market share and along with it meeting

their own targets to achieve the position of no.* in respective field or segment of the market.

My summer training learning helped me a lot to complete my pro)ect in order to learn a lot

of things of the corporate.

"s a pro)ect trainee the first task given to me was to understand the basic behaviour of

the consumer in order to manipulate the market according to the our target competition. +or

this we did developed a ,uestionnaire and I did my survey in important location of -oida and

elhi metro. +rom this database I was asked to do the called calling in order to make

strengthen the agency channel and I learnt how to develop this channel and how to create the

business opportunities besides grabbing them. This made me to know issues of competitive

market in a better manner and it also gave me a lot of ideas to enhance my communication

and convincing skills

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CHAP 1. INTRODUCTION TO INSURANCE

INTRODUCTION

In the preceding chapter the nature and significance of risk and method of handling

risks has been e/plained. "s we have seen the possibility of loss creates uncertainty( which

has undesirable economic and psychological effect. 0hen we speak of methods of handling

risks we are talking about efforts to reduce uncertainty. 0hile no approach to risk problems is

used to e/clusions of all others the single most important an widely used alternatively for

most families 1 business is insurance.

Insurance is a financial topic of paramount importance for every individual. Insurance

is designed to protect the financial wellbeing of you and your dependents in the case of

une/pected loss. 2ome forms of insurance are re,uired by law( while others are optional.

"greeing to the terms of an insurance policy creates a contract between you and the insurance

company. In e/change for payments from you $called premiums%( the insurance company

agrees to pay you a sum of money upon the occurrence of a specific event. That event may be

as mundane as a visit to the doctor or as serious as a car crash( depending on the type of

insurance. Insurance involvespoolingfunds from manyinsured entities $known as e/posures%

to pay for the losses that some may incur. The insured entities are therefore protected from

risk for a fee( with the fee being dependent upon the fre,uency and severity of the event

occurring. In order to be an insurable risk( the risk insured against must meet certain

characteristics. Insurance as a financial intermediaryis a commercial enterprise and a ma)or

part of the financial services industry( but individual entities can alsoselfinsurethrough

saving money for possible future losses.

Insurance as security is need of all human beings. -o animal( no plant nor mountains

and oceans want any security( like man does. Man is afraid of uncertainty( fears and death.

"lthough a reality( one day each one will die; early or later( timely or untimely is the

,uestion( which has no answer. 3e is afraid of risk 1 losses in future. 3e is ever in search of

security 1 certainty. In early history man lived ingroups and communities to be secure. "t

the earlier stage( whenever an earning member would die due to disease or death( the other

members of the social group $or family or clan% would contribute to bail the survivors in the

family out of financial difficulties. This contribution was in the shape of food clothing and

shelter. 4ven today we donate money( food( clothing and other materials of life to rehabilitate

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http://en.wikipedia.org/wiki/Pooling_(resource_management)http://en.wikipedia.org/wiki/Pooling_(resource_management)http://en.wikipedia.org/wiki/Insurable_riskhttp://en.wikipedia.org/wiki/Financial_intermediaryhttp://en.wikipedia.org/wiki/Self-insurancehttp://en.wikipedia.org/wiki/Self-insurancehttp://en.wikipedia.org/wiki/Insurable_riskhttp://en.wikipedia.org/wiki/Financial_intermediaryhttp://en.wikipedia.org/wiki/Self-insurancehttp://en.wikipedia.org/wiki/Pooling_(resource_management)


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the family whose breadwinner has left for his heavenly abode( unfortunately( suddenly( sadly.

$"lso people( friends( relatives ven today contribute towards marriage( education( healthcare

e/penses or mishap%. Later( as commercial considerations grew stronger and stronger;

nucleus family growth became a common practice these contributions and sharing started

becoming individualistic and took the shape of 5premium6. The 5assurances6 which were

earlier by will and practice became a commodity $though intangible%. Thus the concept of

Insurance grew. "ny person who would not contribute( or would contribute less according to

his paying capacity was denied reciprocal help or promise of help( or was given help in

proportion to his contribution which he had been contributing as a faithful obedient member

of the society.

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CHAP 2. CONCEPT OF LIFE INSURANCE

In earlier day! in India! "n an #ne$%e&'ed dea'( ") *read+inner in any )a,ily! '(e

-illaer "r nei(*"#r(""d +"#ld &"lle&' )#nd '" (el% '(e #r-i-e in '(e )a,ily and

#&( %ra&'i&e &"n'in#e e-en n"+. T"day al"! +(en a)'er dea'( / 0(" "r 03irya

'a4e %la&e! rela'i-e i-e ,"ney '" '(e #r-i-"r '("#( '(i ,ay n"' *e ade5#a'e

&"lle&'i"n '" ,ee' e$%ene ") re,ainin %ar' ") li)e +(en '(ere i n" *read+inner.

In#ran&e i "n i,ilar %a''ern.

Li)e In#ran&e is an arrangement through which a person can plan for the continuation of

income when uncertainties and certainties $i.e.% illness or "ccident and death or old age

disrupt or destroy his ability to earn his livelihood. Therefore the Insurance is

*. The business of insurance is related to protection of human life( human created assets(

human disability and business liabilities possessed by human beings which have a definite

value( and

7. "ssets and human life generate benefit and income for the owner and his8her family

members( and

9. Loss of assets 8 human life for any reason stops the benefits and income to the owner and

family members respectively( and

. esults in falling of living standards in the family( ,uality of life and future growth of the

associated family members( and

apda and Makkan%. 3e has fear not

only for himself but also for his dependents. The source of income to meet his basic needs

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may be through service or business. If he is able to meet his basic needs then he ac,uires the

assets i.e. vehicles( property or )ewellery etc. Then he gets additional fear of saving the assets

from destruction. $The assets may be destroyed through accident( fire or earth,uake etc. and

the income may be cut off due to certainty i.e. old age and death or uncertainty i.e. accident(

illness or disability.% "s you know( the old age and death is certain for every human being

while the accident( illness( disability and destruction of assets may be by random. The

number of accidents will take place but with whom is uncertain. Therefore( to overcome this

problem( '(e In#ran&e %lay a -ery i,%"r'an' r"le.

The principal source of income of an individual comes from the compensation for work

performed by him. If this source of income gets cut off then:

+amily will make social and economic ad)ustments like:

? 0ife may take employment at the cost of home making responsibilities ? Children may

have to go for work at the cost of education.

? +amily members might have to accept charity from relatives( friends etc. at the cost of their

independence and selfrespect.

? +amily standard of living might have to be reduced to a level below the essentials for

health and happiness.

NEED OF LIFE INSURANCE

6a7 T" %r"-ide Seri'y and Sa)e'y

The Life Insurance provides security against premature death and payment in old age to lead

the comfortable life. 2imilarly in general Insurance( the property can be insured against any

contingency i.e. fire( earth,uake etc.

6*7 T" %r"-ide Pea&e ") Mind

The uncertainty due to fire( accident( death( illness( disability in the human life( it is beyond

the control of the human beings. !y way of Insurance( he may be compensated financially

but not emotionally. The financial compensation provides not only peace of mind but also

motivates to work more and more.

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6&7 T" Eli,ina'e De%enden&y

@n the death of the breadwinner( the conse,uences need not be e/plained. 2imilar to the

destruction of property and goods the family would suffer a lot. It could lead to reduction in

the standard of living or begging from relatives( friends or neighbours. The economic

independence of the family is reduced. The Insurance is the only way to assist and provider

them ade,uate at the time of sufferings.

6d7 T" En&"#rae Sa-in

Life Insurance provides protection and investment while general Insurance provides only

protection to the human life and property respectively. Life Insurance provides systematic

saving because once the policy is taken then the premium is to be regularly paid otherwise the

amount will be forfeited.

6e7 T" )#l)il '(e need ") a %er"n

a% +amily needs

b% @ld age needs

c% ead)ustment needs

d% 2pecial needs: 4ducation( Marriage( health

e% The clean up needs: "fter death( ritual ceremonies( payment of wealth ta/ and income

ta/es are certain re,uirements( which decreases the amount of funds of the family members.

T" Red#&e '(e #ine L"e8

In business the huge amount is invested in the properties i.e. !uilding and Alant and

Machinery. These properties may be destroyed due to any negligence( if it is not insured no

body would like to invest a huge amount in the business and industry. The Insurance reduced

the uncertainty of business losses due to fire or accidents etc.

67 T" Iden'i)y '(e 3ey ,an8

>ey man is a particular man whose capital( e/pertise( energy and dutifulness make him the

most valuable asset in the business and whose absence well reduce the income of the

employer tremendously and upto that time when such employee is not substituted. The death

or disability of such valuable lives will prove a more serious loss than that fire or any ha'ard.

The potential loss to be suffered and the compensation to the dependents of such employee

re,uire an ade,uate provision( which is met by purchasing an ade,uate life policies.

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6(7 T" En(an&e '(e Li,i'8

The business can obtain loan but pledging the policy as collateral for the loan. The insured

persons are getting more loan due to certainty of payment at their death.

6i7 9el)are ") E,%l"yee8

The welfare of the employees is the responsibility of the employer. The employer is supposed

to look after the welfare of the employees. The provisions are being made for death( disability

and old age. Though these can be insured through individual life Insurance but an individual

may not be insurable due to illness and age. !ut the group policy will cover his Insurance and

the premium is very low in group Insurance. The e/penditure paid on account of premium

will be allowable e/penditure.

ROLE OF LIFE INSURANCE IN ECONOMIC DEVELOPMENT

In addition to contributing to the economy by preserving human life values and assets

and protecting loss( Insurance also aids in economic development. To grow economy( the

=ovt. -eeds capital to finance infrastructure i.e. oads( bridges( industrial farm

communication and ailways lines which re,uires the huge investment. Individual or =ovt. is

unable to provide such funds. "s the life Insurance contracts are long term contacts.

Therefore( insurer by investing funds that flow to them from their many policyholders have

become the principal source of capital for the economy.

Investments are essential ingredients for economic development of any nation.

Investments by Insurance companies are in social sector( infrastructure development and

government security( papers and bonds.

Life insurance plays a ma)or role in mobili'ation of pubic savings.$s. B


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Looking to nonlife side business( industry and trade would be seriously handicapped in

the absence of insurance cover relating to losses due to fire( earth,uake( flood( storm natural

calamities( act of =od etc.%

0idespread of Insurance brings in indirectly the following advantages

? !etter living standards

? 3igher productivity

? Improved Law and @rder

? 3igher =A

? 3ealthy =eneration

? iscourages bad habits and practices causing damage to human life

? 3igher mortality

? 3appy society

? 4nhanced selfesteem

? Creative Minds

? 4ntrepreneurship ,ualities

? 2ocial upliftment of the society as a whole

CHAP :. INTRODUCTION OF 3OTA3 MAHINDRA COMPANY AND ITS

USINESSES.

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4stablished in *DEotak Mahindra =roup is one of India6s leading financial

services conglomerates. In +ebruary 79( >otak Mahindra +inance Ltd. $>M+L%( the

=roup6s flagship company( received a banking license from the eserve !ank of India $!I%.

0ith this( >M+L became the first nonbanking finance company in India to become a bank F

>otak Mahindra !ank Limited.

The consolidated balance sheet of >otak Mahindra =roup is over s. *.9 lakh cr and

the consolidated net worth of the =roup stands at s. 7(otak Mahindra is one of IndiaKs leading

banking and financial services organi'ations( offering a wide range of financial services that

encompass every sphere of life. +rom commercial banking( to car finance( to stock broking(

to asset management( to life insurance( to investment banking( the group caters to the

financial needs of individuals and corporates. The group has a net worth of s *(J cr. and

has a distribution network through branches and franchisees across the country and offices in

-ew ork( 2an +rancisco( London( ubai( Mauritius and 2ingapore( servicing close to E

million customer accounts. @ld Mutual plc is an international longterm savings( protection

and investment =roup. @riginating in 2outh "frica in *E


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ecember 7*( the =roup reported ad)usted operating profit before ta/ of *.< billion $on an

I+2 basis% and had 9D billion of funds under management( from core operations.

TYPES OF LIFE INSURANCE

=iven below are the basic types of life insurance policies. "ll other life insurance policies are

built around these basic insurance policies by combination of various other features.

Ter, In#ran&e P"li&y

" term insurance policyis a pure risk cover policy that protects the person insured for

a specific period of time. In such type of a life insurance policy( a fi/ed sum of money

called the sum assured is paid to the beneficiaries $family% if the policyholder e/pires

within the policy term. +or instance( if a person buys a s 7 lakh policy for *< years( his

family is entitled to the sum of s 7 lakh if he dies within that *


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Gnder this life insurance policy( the policyholder pays regular premiums until his

death( upon which the corpus is paid to the family. The policy does not e/pire till the

time any unfortunate event occurs with the individual.

Increasingly( whole life policies are being combined with other insurance products to

address a variety of needs such as retirement planning( etc.

Aremiums paid under the whole life policies are ta/ e/empt.

End"+,en' P"li&y

Combining risk cover with financial savings( endowment policiesare among the

popular life insurance policies.

Aolicy holders benefit in two ways from a pure endowment insurance policy. In case

of death during the tenure( the beneficiary gets the sum assured. If the individual

survives the policy tenure( he gets back the premiums paid with other investment returns

and benefits like bonuses.

In addition to the basic policy( insurers offer various benefits such as double

endowment and marriage8 education endowment plans.

The concept of providing the customers with better returns has been gaining

importance in recent times. 3ence( insurance companies have been coming out with newand better GLIA versions of endowment policies. Gnder such life insurance policies the

customers are also provided with an option of investing their premiums into the markets(

depending on their risk appetite( using various fund options provided by the insurer(

these life insurance policies help the customer profit from rising markets.

The premiums paid and the returns accumulated through pure endowment policies

and their GLIA variants are ta/ e/empt.

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M"ney a&4 P"li&y

This life insurance policy is favoured by many people because it gives periodic

payments during the term of policy. In other words( a portion of the sum assured is paid

out at regular intervals. If the policy holder survives the term( he gets the balance sum

assured.

In case of death during the policy terms the beneficiary gets the full sum assured.

-ew GLIA versions of money back policies are also being offered by various life

insurers.

The premiums paid and the returns accumulated though a money back policyor its

GLIA variants are ta/ e/empt.

ULIP

GLIAs are marketlinked life insurance products that provide a combination of life

cover and wealth creation options.

" part of the amount that people invest in a GLIA goes toward providing life cover(

while the rest is invested in the e,uity and debt instruments for ma/imising returns. .

GLIAsprovide the fle/ibility of choosing from a variety of fund options depending on

the customers risk appetite. @ne can opt from aggressive funds $invested largely in the

e,uity market with the ob)ective of high capital appreciation% to conservative funds

$invested in debt markets( cash( bank deposits and other instruments( with the aim of

preserving capital while providing steady returns%.

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http://insurance.kotak.com/individual/savings-invest/money-back-plans.phphttp://insurance.kotak.com/individual/savings-invest/money-back-plans.phphttp://insurance.kotak.com/individual/savings-invest/wealth-insurance.phphttp://insurance.kotak.com/individual/savings-invest/money-back-plans.phphttp://insurance.kotak.com/individual/savings-invest/wealth-insurance.php


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GLIAs can be useful for achieving various longterm financial goals such as planning

for retirement( child6s education( marriage etc

Ann#i'ie and Peni"n

In these types of life insurance policies( the insurer agrees to pay the insured a

stipulated sum of money periodically. The purpose of an annuity is to protect against

financial risks as well as provide money in the form of pension at regular intervals.

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CHAP ;. MANA


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Mr. Murlidhar is one of the founder members of >otak Mahindra @ld Mutual Life Insurance

Ltd. 3e has served the company in...

Mr. Sunil Sharma

Aointed Actuar!" #ota$ Mahindra %ld Mutual &i'e (n)urance &td

"s the "ppointed "ctuary at >otak Mahindra @ld Mutual Life Insurance Limited( 2unil

2harma is responsible for...

Mr. Sudha$ar Shan*hag

+hie' (n,e)tment %-cer" #ota$ Mahindra %ld Mutual &i'e (n)urance &td

2udhakar 2hanbhag is the Chief Investment @fficer at >otak Mahindra @ld Mutual Life

Insurance...

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Mr. Sugata Dutta

/ecuti,e ice re)ident and ead" uman e)ource)

Mr. 2ugata utta heads the 3uman esources and "dministration function and is responsible

for ecruitment...

Mr. Sure)h Agaral

/ecuti,e ice re)ident and ead" Di)tri*ution Strategic (nitiati,e)

Mr. 2uresh "garwal is the 4/ecutive ice Aresident and 3ead of istribution 1 2trategic

Initiatives at >otak Life Insurance...

M). #irti atil

Senior ice re)ident and ead" (n'ormation echnolog!

Ms. >irti Aatil is the 3ead of Information Technology at >otak Life Insurance. 2he is

responsible for ensuring that the companyKs technology...

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Mr. +edric ernande)

Senior ice re)ident +hie' inancial %-cer

In his capacity as the 2enior ice Aresident and Chief +inancial @fficer $C+@% of >otak

Mahindra @ld Mutual Life Insurance Ltd...

M). lia*eth en$ataraman

Senior ice re)ident and ead" Mar$eting" #ota$ Mahindra %ld Mutual

&i'e (n)urance &td

"s 2enior ice Aresident and 3ead of Marketing at >otak Mahindra @ld Mutual Life

Insurance( 4li'abeth enkataraman is...

Mr. ite)h eera

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Senior ice re)ident and ead" %eration)" +u)tomer Ser,ice"

nderriting +laim)" #ota$ Mahindra %ld Mutual &i'e (n)urance &td

Mr. ite)h eera i) the Senior ice re)ident and ead : %eration)"

+u)tomer Ser,ice" nderriting +laim) at #ota$ &i'e (n)urance...

Mr. Su*ha)i) Gho)h

Senior ice re)ident and ead" inancial (n)titution) Grou

Mr. 2ubhasis =hosh is a Commerce $3onours% graduate from Calcutta Gniversity. 3e has

over 79 years of e/perience...

CHAP =. SOME 3EY PLANS OFFERED Y 3OTA3 MAHINDRA OLD MUTUAL

LIFE INSURANCE

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3OT3 TERM PREFERRED PLAN

Life is uncertain. Gnfortunate events like an untimely death of the breadwinner can put a

family at a great risk of being financially insecure. The 3"'a4 Ter, Plan > 3"'a4 Pre)erred

Ter, Planis a pure risk cover plan and an economical means of providing an ade,uate level

of financial protection. In this plan( the life cover amount $sum assured% is paid to the

beneficiary in case of the unfortunate death of the life insured. "s a result( the family of life

insured is well cushioned financially even if the life insured is no longer around to provide.

I,%"r'an' Fea'#re A*"#' Plan

L"+ C"' in#ran&e %lan

>otak Term Alan 8 >otak Areferred Term Alan provides you the benefit of having a high cover

at economical prices. It also offers reduced premiums for women. +urthermore( in >otak

Areferred Term Alan( for a sum assured of s 7< lakh and above( special premium rates are

offered to non tobacco users. 3ence( this plan provides you a good value proposition for

your money.

C("i&e ") %re,i#, %ay,en' ,"de

0hether you prefer a single payment mode or the regular option of premium payments over

the policy years( we have the right solutions for you. If you opt for the regular mode( you still

have the choice of annual( halfyearly( ,uarterly or monthly premium payment. Thus( you are

offered high level of fle/ibility in paying premiums the way you choose.

Plan &"n-eri"n "%'i"n

+or enhanced protection( there is an option of converting your >otak Term Alan 8 >otak

Areferred Term Alan policy to a policy of any other planN offered by >otak Life Insurance

$e/cept for term plans%. 2o long as there are at least < years remaining before the cover

ceases( you can avail this option. Thus( with your changing needs you can actually convert

your plan into a different one that better suits your needs.

Addi'i"nal %r"'e&'i"n

In case you have selected the regular premium payment option( you can enhance your

protection with the following rider plans if they do not e/ceed 9O the premium $e/cept for

>otak Critical Illness !enefit% for your >otak Term Alan 8 >otak Areferred Term Alan policy.

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En'ry Ae *E F J< years

Ma'#ri'y Ae Ma/imum: B years

P"li&y Ter, Minimum: < years Ma/imum: 9 years

Pre,i#, Pay,en'

M"de

2ingle premium payment

@

"nnual83alfyearly8Puarterly8Monthly

S#, A#red 3"'a4 Ter, Plan : Min: s( 9((8( Ma/ :s. 7(DD(DDD8

3"'a4 Pre)erred Ter, Plan: Min: s. 7


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Ta/ benefits under the policy will be as per the prevailing income ta/ laws and are sub)ect to

change in the ta/ laws. ou are advised to consult your ta/ adviser for details.

OTHER PLANS OFFERED Y 3OTA3 LIFE INSURANCE

Pr"'e&'i"n Plan

Insurance Arotection plans help you secure your loved onesK future against lifeKs uncertainties.

" term life insurance policy is one where the person insured paid a certain premium

periodically and either receives the benefits at the term or( in the event of the assured personKs

death( the family gets the benefit. These plans are ,uite costeffective as they focus on

providing only life cover and no other returns.

>otak 2aral 2uraksha

>otak eTerm8 eAreferred Term

>otak Loan Arotection Alan

>otak Term Alan8 Areferred Term Alan

>otak 4ternal Life Alans

Re'ire,en' Plan

etirement Alanning ensures that you en)oy the same lifestyle which you are used to and

following the same hobbies and pleasurable activities( even years after your retirement and do

not depend upon your kin for support. " sound pension plan also guarantees the financial

independence of the family in the unfortunate event of the insuredKs demise.

>otak Capital Multiplier Alan

>otak etirement Income Alan

Sa-in ? In-e',en' Plan

The 2avings and Investment Alans work as growth plans that help you ma/imi'e wealth

creation. In the recent times( life insurance products have evolved beyond providing )ust Krisk

protectionK. Today( life insurance plans are attractive options for creating wealth an

investment vehicle that can ma/imi'e returns. 2uch investment plans give you competitive

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returns apart from added incentives like bonuses. These growth plans provide the dual

benefits of financial protection as a risk cover and attractive returns over a long term.

>otak "ssured Income Alan

>otak Alatinum

>otak 2ingle Invest "dvantage

>otak "ce Investment Alan

>otak 0ealth Insurance

>otak 2ecure Invest Insurance

>otak 4ndowment Alan

>otak Money !ack Alan

>otak Aremium eturn Alan

>otak 2urakshit #eevan

C(ild Plan

0hether it is to fund an education or a new age career choice or a fairytale wedding or any

other purpose for the well being of your kid through his8her childhood and teenage years( a

child plan policy provides for all the benefits and helps you plan a financially secure future

for your child.

>otak 3eadstart Child "ssure

>otak Child "dvantage Alan


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automatically take pride in working for your organi'ation which( in turn( increases your

organi'ation6s productivity and output. Thus( group life insurance policies not only help you

retain employee but also improve their efficiency and in the long term( boost profits.

>otak =roup 2hield

>otak =roup "ssure

>otak Term =roup Alan

>otak =ratuity =roup Alan

>otak CreditTerm =roup Alan

>otak Complete Cover =roup Alan

R#ral Plan

>otak =ramin !ima o)ana protects your loved ones against uncertainties and provides you

with guaranteed returns( )ust like your fi/ed deposit. The plan allows you to pay a onetime

premium thus saving you the hassle of annual payments and also ensures that you get *.otak =ramin !ima o)ana

Rider

These help you customi'e your policies and enhance your cover( >otak Life Insurance offers

a set of riders which you may opt for along with your basic policy and shape your policy to

suit your individual needs.

>otak Term !enefit $>T!%8 >otak Areferred Term !enefit $>AT!%

>otak "ccidental eath !enefit $"!%

>otak Aermanent isability !enefit $A!%

>otak Critical Illness !enefit $CI!%

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CHAP @. MAOR COMPETITORS OF 3OTA3 MAHINDRA OLD MUTUAL LIFE

INSURANCE

P#*li& Se&'"r

*. Life Insurance Corporation of India

Pri-a'e Se&'"r

*. "4=@- eligare Life Insurance

7. "viva India

9. !a)a) "llian' Life Insurance

. T"T" "I" Life I-2G"-C4


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D. India +irst Life Insurance Company

*.!irla 2un Life Insurance

**.Ma/ Life Insurance

*7.ICICI Arudential Life Insurance Company

*9.Canara 32!C @!C Life Insurance Company Avt Ltd.

*.!3"TI "/a life insurance company

*


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CHAP B. NE9S AOUT 3OTA3 MAHINRA OLD MUTUAL LIFE INSURANCE

3"'a4 Ma(indra (are ain "n (i4e in FII li,i'

!y euters Q 7* #an( 7*otak Mahindra upping its stake in their Indian )oint insurance venture following a rule

change( @ld MutualKs chief e/ecutive said on 0ednesday. @ld Mutual is also still looking to

e/pand in sub2aharan "frica( #ulian oberts told euters in an interview( though prices were

rising for insurance businesses( as 4uropean and 2outh "frican firms compete for a slice of

this underpenetrated market.

Old M#'#al ay %ay B ,illi"n )"r 'a4e in A)ri&an in#rer UAP H"ldin

!y euters Q D #an( 7*enyan investment firm Centum !24 .7< ..

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CHAP . 9HY 3OTA3 LIFE INSURANCE

3"'a4 Ma(indra Old M#'#al Li)e In#ran&e is one of the fastest growing insurance

companies in India( trusted by over million policyholders nationwide. The company is

differentiated because of its proven ability to deliver outstanding value to its customers

through high customer empathy and understanding( lifetime of e/ceptional service and suite

of products that best leverage the combined prowess of Arotection and Long term 2avings

the two key elements that determine any winning life insurance product. The company also

has among the best claim ratios in the industry( a solemn testimony to its business practices.

S'ren'(

Finan&ial A,en 3olds a stable and diversified portfolio and has received some of

the highest ratings in financial strength from industry6s independent rating agencies.

Di&i%lined )#nd ,anae,en' ears of e/perience in asset management( and a

strong track record in managing funds backed by the acclaimed e/pertise of @ld

Mutual plc

Inn"-a'i-ene Innovator in providing pragmatic and need based life insurance

solutions( with consistent emphasis on leveraging the combined prowess of protection

and long term savings to the customer6s best advantage.

Unrelen'in C#'",er F" " highly committed sales force( with customer

satisfaction as the key driving force

Tran%aren&y in Ser-i&e aily declaration of fund performances( regular

performance benchmarking( well regulated asset management( and monthly newsletter

on market updates

VISION AND MISSION OF 3OTA3 LIFE INSURANCE

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An #n&",,"n *"nd. S'ren'(ened *y a &",,"n -ii"n

"part from common beliefs( values and ob)ectives >otak mahindra believe in the vision of a

better tomorrow. It is this deep veneer of faith that has brought >otak Mahindra Company

together and fortified their bond.

T(e l"*al Indian )inan&ial er-i&e *rand

customers of >otak Mahindra will en)oy the benefits of dealing with a global Indian brand

that best understands their needs and delivers customised pragmatic solutions across multiple

platforms. >otak Mahindra will be a worldclass Indian financial services group. >otak6s

technology and best practices will be benchmarked along international lines while their

understanding of customers will be uni,uely Indian. They will be more than a repository of

their customersK savings. >otak Mahindra( the group( will be a single window to every

financial service in a customerKs universe.

T(e ,"' %re)erred e,%l"yer in )inan&ial er-i&e

" culture of empowerment coupled with a spirit of enterprise( attracts bright minds with an

entrepreneurial streak to )oin >otak Mahindra Company and stay with them. 0orking with a

homegrown( professionallymanaged company( which has partnerships with international

leaders( gives >otak6s people a perspective that is universal as well as uni,ue.

T(e ,"' 'r#'ed )inan&ial er-i&e &",%any

>otak and their management will create an ethos of trust across all their constituents.

"dhering to high standards of compliance and corporate governance will be an integral part

of building trust.

Val#e &rea'i"n

alue creation rather than si'e alone will be >otak Mahindra6s business driver.

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