SYNOPSIS

SHRIRAM GROUP

Shriram Group, established in 1974, is among the leading corporate houses in India and is a major player in the Indian financial services sector. The Shriram Groups focus is on financial services that reach out to a large number of common people providing them opportunities to improve their prosperity. Financial Services constitute the core business of the Group, with Shriram being a clear leader in the truck financing and chit business. Shriram Transport Finance Company, is the flagship company of the Group, It is the largest Commercial Vehicle Financing NBFC in the country. Chit Fund Business of the Shriram Group is Numero Uno in the industry across India. In Consumer Finance, the Shriram Group has major presence in South India.

Shriram Group had entered the insurance business with a long term focus and to provide better value and service to the customer. It has partnered with Sanlam, a leading insurer in South Africa, for both Life and Non Life Insurance business. The Group had entered in the life Insurance business in December05 and launched its Non-Life insurance business in July08.

SHRIRAM FORTUNE SOLUTION LIMITED

Shriram fortune Solutions Ltd. is one of the leading integrated financial services Company of India Backed by Shriram Group of Chennai. Today, SFSL is a premier financial distribution company and ranks among the top players in this business segment. SFSL offers financial planning solutions which are facilitated mainly through four products, Mutual Funds, Life Insurance, General Insurance and Deposits. These products and solutions are supported by knowledge, expertise and experience of 53,863 loyal Business Associates and 1146 employees.

SFSL has a direct presence through more than 72 branches and an indirect presence in more than 289 locations throughout the country. The Company taps into the 7-lakh strong Pan-India customer base of the Shriram Group, as well as new clients through newer channels creating a huge demand for Investment & Insurance Products

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ROLE AND IMPORTANCE OF LIFE INSURANCE

INTRODUCTION

Life insurance

Insurance is basically risk management device. The losses to assets resulting form n a t u r a l calamities like fire, flood, earthquake, accident etc. are met out of the common pool contributed by large number of persons who are exposed to similar risks. This contribution of many is used to pay the losses suffered by unfortunate few. However the basic principle is that losses should occur as a result of natural calamities or unexpected events which are beyond the human control. Secondly insured person should not make any gains out of insurance

Health insurance

Illness or non-work related injury can be financially devastating, especially when considering the rising cost of health care over the past 20 years. Health insurance can help protect you from large out-of-pocket health care expenses that can accumulate during an acute or chronic illness. If you have a job, your employer may provide group comprehensive major medical coverage. You can also purchase individual comprehensive major medical coverage privately or through an insurance agent or broker who is licensed by the State of California to sell health insurance products.

Indemnity Policies (Traditional Fee-for-Service Insurance) Preferred Provider Organizations (PPOs) Health Maintenance Organizations (HMOs or Managed Care) Self-Insured Health Plans (Single Employer Self-Insured Plans) Multiple Employer Welfare Arrangements (MEWAs)

Objectives
1. To provide better coverage to the India citizens 2. Provide access to an affordable and quality private health insurance scheme health and financial risks for low-income families 3. Provide sufficient and stable income streams, affordable financing options 4. Provide innovative and more effective financing mechanisms for example to reduce the risk of donors of aid ineffectiveness to reducing

DATA COLLECTION FOR PROJECT

From the brochure of different organization official sites of companies

Use primary as well as secondary data.

IMPORTANCE OF STUDY

Company can increase its market value by doing more and more insurance policies. Over all scenario of insurance can be review from this study and required steps can be taken to improve the situation. Customer satisfaction level from the products can be judged. To aware about the health or future uncertain.

SHRIRAM FORTUNE SOLUTION LTD Above bathinda tent house, Bibi wala road, B.T.I. 9814006911