Synopsis

• What is Life Insurance

• History about Insurance

• Information about AVIVA

• Information about ICICI PRUDENTIAL

• Information about TATA AIG

• Information about LIC INDIA

• Formation of Series

• Tabulation

• Graphical Representation
 What is life Insurance ?
Life insurance is a contract that pledges payment of an amount to the person
assured on the happening of the event insured against.The contract is valid for
payment of the insured amount during:-

7. The date of maturity, or

8. Specified dates at periodic intervals, or
9. Unfortunate death, if it occurs earlier.

Life insurance, in short, is concerned with two hazards that stand across the
life-path of every person:-

14. That of dying prematurely leaving a dependent family to fend for itself.
15. That of living till old age without visible means of support.
 History Of Insurance

•The story of insurance is probably as old as the story of mankind.

•The concept of insurance is largely a development of the recent past.

•. Life Insurance in its modern form came to India from England in the year
1818.

•The main objectiv of insurance is to protect against loss and disaster.

•Oriental Life Insurance Company started by Europeans in Calcutta was

the first life insurance company on Indian Soil.

•However, later with the efforts of eminent people like Babu Muttylal Seal,
the foreign life insurance companies started insuring Indian lives.
 OBJECTIVES
• Spread Life Insurance widely in rural areas and to the socially
and economically backward classes.

• Maximize mobilization of people's savings.

• Conduct business with utmost economy and with the full realization.

• Act as trustees of the insured public in their individual and collective

capacities.

• Meet the life insurance needs.

• Involve all people working in the Corporation.

 ICICI PRUDENTIAL LIFE INSURANCE

•ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank.

•ICICI Prudential was amongst the first private sector insurance companies to
begin operations in December 2000.

•The company has a network of about 56,000 advisors; as well as 7

banc assurance and 150 corporate agent tie-ups.

•For the past four years, ICICI Prudential has retained its position as the
No. 1 private life insurer in the country.
 VISION

• Understanding the needs of customers

Service customers quickly, efficiently and conveniently

• Developing and implementing risk management and investment strategies

• Providing an enabling environment to foster growth

• Building transparency in all our dealings.

 AVIVA
LIFE INSURANCE
•Aviva is UK’s largest and the world’s fifth largest insurance Group.

•It is one of the leading providers of life and pensions products.

•Aviva has a 35 million-customer base worldwide.Aviva was also the first foreign
insurance company in India to set up its representative office in 1995.

•Aviva has a joint venture with Dabur.

•Aviva has 112 Branches in India.

----
•Aviva products are available in 392 towns and cities across India.
 VISION

Aviva - where exceeding expectations through

innovative solutions is "our" way of life.
 TATA AIG

•Tata AIG is a joint venture of the Tata Group and American International Group,
Inc. (AIG).

•The Tata Group is one of India's best-known industrial groups.

•Tata Group aims to be the largest and most respected global brand from India whils
fulfilling its long-standing commitment to improving the quality of life of its
stakeholders

•AIG, Inc. is the world's leading international insurance and financial services
organization.

•AIG companies are the largest underwriters.

•AIG also has one of the largest U.S. retirement savings.

•AIG is also listed in newyork stock exchange.

•Managing director of Tata AIG is Trevor Bull.

 LIFE INSURANCE CORPORATION

•The Life Insurance Corporation of India was created on 1st September, 1956

•LIC had 5 zonal offices, 33 divisional offices and 212 branch offices

•Today LIC functions with 2048 fully computerized branch offices,

100 divisional offices, 7 zonal offices and the Corporate office.

•LIC has tied up with some Banks and Service providers

•LIC has launched its SATELLITE SAMPARK offices.

•LIC continues to be the dominant life insurer

•It has crossed the milestone of issusing 1,10,32,955 policy by 5th june 2006
 Mission
"Explore and enhance the quality of life of people through financial
security by providing
products and services of aspired attributes with competitive returns,
and by rendering resources for economic development."

VISION

"A trans-nationally competitive financial conglomerate of significance to

societies and Pride of India."
Some of the important milestones in the general insurance business in India are:

1818: Oriental Life Insurance Company, the first life insurance company on Indian soil
started functioning.

1850:The General insurance business in India, on the other hand, can trace its roots to
the Triton Insurance Company Ltd., the first general insurance company
established in the year 1850 in Calcutta by the British.
.
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate
the life insurance business.
.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the
objective of protecting the interests of the insuring public.

1957: General Insurance Council, a wing of the Insurance Association of India,

frames a code of conduct for ensuring fair conduct and sound business practices.

1972: The General Insurance Business (Nationalisation) Act, 1972 nationalised the
general insurance business in India with effect from 1st January 1973.
 Bms Project
Q1 Which company do you prefer for the life insurance policy?
a)LIC b)AVIVA c)ICICI d)TATA AIG

Q2 Why do you prefer the above option?

a)Redemption of income tax
b)Attractive scheme
c)agent was relative or friend
d)others………………..

Q3 How many life insurance policies do you have in your family?

a)2-3
b)4-5
c)5-6
d)More than 6

Q4)What is your annual income?

a)80,000-100000
b)100000-200000
c)200000-500000
d)Above 500000
Q5)whom has made your nominee for the concern policy?
a)Wife/husband
b)Son/Daughter
c)Brother/sister
d)Other relative

Q6)Why do you think that the policy which you have taken is superior and beneficial
For you and your family?
………………………………………………………………..
 Insurance companies
40
35
30
25 LIC
20 AVIVA
ICICI
15
TATA AIG
10
5
0
LIC AVIVA ICICI TATA AIG
 Annual Income
30

25

20

15
Income
10

0
1lac- 2lac- Above
2lac 5lac 5lac