EXECUTIVE SUMMARY

The BSLI Branch office of Bijapur is located at Sankeshwar Apartment, B.L.D.E

Road, Bijapur. This branch comes under Bangalore divisional office. BSLI was started
in the year 2001on 31st January. The main objective of this study is to get the practical
knowledge.

BSLI is doing its competition very well by introducing many types of facilities to
its customers as well as to its agent. Agents are the future of the company. The BSLI
branch office is having totally seven departments. The opportunities of the BSLI are
that, now a day after IRDA 2000 many private companies were introduced. As BSLI is
Private organization.

Here, I have selected the sample size 50 and in this 50 sample I have targeted
only working persons to collect data, information correctly. This project report includes
the conclusion, recommendations and limitations and scope of the project also.

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 INTRODUCTION

Insurance plays very important role in every one’s life. Without insurance people
don’t feel themselves as secure. So, insurance has very great demand in service sector.

Birla Sun Life Insurance Company Limited is a joint venture between The Aditya
Birla Group, one of the largest business houses in India and Sun Life Financial Inc., a
leading international financial services organization. The local knowledge of the Aditya
Birla Group combined with the expertise of Sun Life Financial Inc., offers a formidable
protection for your future.

Birla Sun Life Insurance (BSLI) in its 6 successful years of operations has
contributed significantly to the growth and development of the life insurance industry in
India. It pioneered the launch of Unit Linked Life Insurance plans amongst the private
players in India. It was the first player in the industry to sell its policies through the
Bank assurance route and through the Internet. It was the first private sector player to
introduce a pure Term plan in the Indian market. This was supported by sales practices,
which brought a degree of transparency that was entirely new to the market. The
process of getting sales illustrations signed by customers, offering a free look period on
all policies, which are now industry standards were introduced by BSLI. Being a
customer centric company, BSLI has invested heavily in technology to build world
class processing capabilities. BSLI has covered more than a million lives since
inception and its customer base is spread across more than 1500 towns and cities in
India. All this has assisted the company in cementing its place amongst the leaders in
the industry in terms of new business premium income

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 HISTORY OF BIRLA SUN LIFE INSURANCE

The Aditya Birla Group and Sun Life Financial Services of Canada Inc. are
pleased to announce that a requisition for registration application for the establishment
of a life insurance business for the Birla Sun Life Insurance Company Limited has been
filed with the Indian Insurance Regulatory and Development Authority.

The Aditya Birla Group and Sun Life Financial are enthusiastic about the
opportunity to serve the Indian insurance market. Both companies plan to combine the
excellent local reputation, experience, resources, expertise and market knowledge of the
Aditya Birla Group with the resources, life insurance managerial experience and
international infrastructure of Sun Life Financial to provide value to clients in India.
Both companies have formed a team in India which, over the last year, has conducted
market and demographic assessments and helped to build the infrastructure required to
provide insurance, pension products and services to meet the needs of individuals and
families throughout their lifetimes. The companies hope to receive all regulatory
approvals later this year and to commence business soon after that.

Sun Life Assurance Company of Canada, a member of the Sun Life Financial
group of companies, had operations in India for 64 years before the nationalization of
the insurance business in 1956. "We believe that India is a very important part of our
heritage and we look forward to serving the Indian market once again," said C. James
Prieur, President and Chief Operating Officer.

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 Sun Life Financial is a publicly-owned holding company, with shares listed on
the Toronto, New York, London and Philippine stock exchanges. Sun Life Financial, its
subsidiaries and joint ventures, provide a wide range of life and health insurance,
savings, retirement, pension products and services to individuals and corporate
customers in Canada, the United States, the United Kingdom, Hong Kong, the
Philippines, Japan, Indonesia, India, Bermuda and Chile. As of June 30, 2000, this
group of companies had assets under management of C$330 billion.

The Aditya Birla Group, as one of India's largest business houses, has a turnover
of over Rs. 260 billion, asset base of over Rs. 257 billion and nearly 72,000 employees
in 18 countries around the world. Over 75 business units in India and overseas (in
Canada, Thailand, Indonesia, Malaysia, Philippines and Egypt) and international trading
operations spanning several countries including Singapore, Dubai, Vietnam, Myanmar,
Ivory Coast and China, make it India's first truly multinational conglomerate.

In May 1999, the Aditya Birla Group and Sun Life Financial entered into joint
ventures with respect to a wide range of financial services including mutual funds (Birla
Sun Life Asset Management Company Limited, Birla Sun Life Trustee Company
Limited), distribution (Birla Sun Life Distribution Company Limited) and stock
brokerage (Birla Sun Life Securities Limited). These companies, together with Birla
Global Finance Limited, operate through 14 branches and nearly 80 associate offices
throughout the country. Together, they have a retail and corporate client base exceeding
350,000.

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Birla Sun Life Insurance Company Limited
Birla Sun Life Insurance Company Limited is a joint venture between Sun Life
Assurance Company of Canada and Aditya Birla Management Corporation Limited.
Birla Sun Life Insurance is one of the top five privately owned life insurers in the
country (selling approx CDN$151 million in new life policies for 2005).

The company has more than 21,500 insurance advisors who sell company
products in 116 branches and 95 cities across the country. Birla Sun Life markets a
full array of individual life insurance, group insurance and group savings products
throughout India.

Birla Sun Life Asset Management Company Limited

Birla Sun Life Asset Management Company Limited (BSLAMC), the investment
managers of Birla Mutual Fund, is a joint venture between companies of Aditya Birla
Management Corporation Limited and Sun Life Assurance Company of Canada. Birla
Mutual Fund was constituted as a trust in December 1994. It has a spectrum of 14
investment schemes including two off-shore funds designed to cater to every need of
the individual and institutional investor. Birla Mutual Fund has emerged as one of
India's leading mutual fund companies with over Rs. 50 billion of assets under
management and an investor base in excess of 350,000 folios.

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 Birla Mutual Fund follows a long-term, fundamental research based approach to
investment, which identifies companies that have excellent credit-worthiness and strong
fundamentals. Fundamentals include the quality of the company's management,
sustainability of its business model and its competitive position, among other factors.
BSLAMC has one of the largest teams of research analysts in the industry, dedicated to
reviewing and assessing potential investment opportunities. BSLAMC strives to
provide transparent, ethical and research-based investment and wealth management
services.

Birla Sun Life Distribution Company Limited

Birla Sun Life Distribution Company Limited offers investment advisory and
financial product distribution through its network of 2,000 agents located across the
country. The products offered are mutual funds, Government of India Relief bonds,
bonds of public financial institutions, select Fixed Deposits and Initial equity and debt
public offerings. The company also distributes the insurance products of Birla Sun Life
Insurance Company Limited.

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Life Insurance means:

Life insurance is a contract providing for payment of a sum of money to

the person assured or failing him/her, to the person entitled to receive same, on the
happening of certain event.

ADVANTAGES OF LIFE INSURANCE

1) It is superior to an ordinary savings plans.

2) Insurance encourages and forces thrift.

3) Easy settlement and protection against creditors.

4) Administering the legacy for beneficiaries.

5) Tax relief.

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 MISSION

To help the people mitigate risks of life, accident, health and money at all stages
and under all circumstances.

Enhance the financial future of our customers, including enterprises.

VISION

To create long term value along with market leadership.

VALUES

Integrity

Commitment

Passion

Seamlessness

Speed

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 OBJECTIVES OF BSLI

1) Spread life Insurance much, is widely and in particular to the rural areas and to the
socially and economically backward classis with a view to reaching all insurable
persons in the country and providing them adequate financial cover against death at
reasonable cost.

2) Meet the various life Insurance needs of the community that would arises in the
changing the social and economic environment.

3) Maximum mobilization of people saving by making Insurance linked saving

adequately attractive.

4) Conduct business with at most economy and with the full realization that money
belong to the policy holders.

5) Act as trustees of the Insured public in their individual and collective capacities.

6) Involve all people working in the corporation to the best of their capabilities in
furthering the interest of the Insured public by providing efficient service with courtesy.

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7) Promote amongst all agents and employees of the corporation of a sense of
participation, pride and job satisfaction through discharge of the duties with dedication
towards achievements of corporate objectives.

8) Bear in mind in the investment of funds, the primary obligation of to its policy
holders, whose money it holds in trust, without losing sight of the interest of the
community as the whole, the funds to be deployed to the best advantages of the
investors as well as the community as a whole, keeping in view national priorities and
obligations of attractive return.

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 INSURANCE PLANS

PROTECTION:

Birla sun Life term plan

Premium Back term plan

RETIREMENT:

Flexi Secure Life Retirement Plan II

CHILDREN:
Children Dream Plan

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SAVING:
Birla Sun Life Insurance Gold Plus II
Birla Sun Life Saral Jeevan Plan
Supreme Life
Dream Plan
Classic Life Premier
Simply Life
Prime Life Premier
Life Companion
Flexi Cash Flow
Flexi Save Plus
Flexi Life Line
Single Premium Bond

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RURAL:

Bima Suraksha Super

Bima Dhan Sanchar
Bima Karach Yojana

RIDERS:

Accidental Death Rider

Accidental Death & Dismemberment Rider
Term Rider
Critical Illness Rider
Waiver of Premium
Critical Illness Plus Rider

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ORGANIZATIONAL STRUCTURE OF THE CENTRAL
OFFICE OF BSLI

CHAIRMAN

CHIEF EXECUTIVE
OFFICER

SENIOR VICE
PRESIDENT

VICE PRESIDENT

REGIONAL
MANAGER

BRANCH MANAGER

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ORGANIZATIONAL STRUCTURE OF THE BRANCH
OFFICE OF BSLI

BRANCH MANAGER

BRANCH SUPPORT
EXECUTIVE

AGENCY MANAGER

ADVISORS

OFFICE BOY

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COMPETITION ANALYSIS
Competition helps the company to become larger its business through world
wide, means competition is only the way to do the business globalize without
competition a company can not know to others.

As there is a competition in all the business fields. As BSLI is private company

that’s why 100% of its share are under the company only. So, BSLI also has the
competition in its service field. After Insurances Regulatory and Development
Authority (IRDA-2000) there is lot of competition in between BSLI company. It has
given good competition, BSLI is in the 4th position. In these ways it was created its
goodwill and it is continuing that type of goodwill now a day also.

In competition field BSLI is doing very healthy competition, for doing

competition BSLI is dealing with following points.

1) There are totally 597 BSLI branches, which are all computerized.

2) By the help of computerization only BSLI is providing very quick services to its
customers and policy holders.

3) The policy holder can also give the premium through banks.

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4) In all 597 branches LAN Network is available

5) Policy holders can remit the premium from any place and at any time i.e; where a
policy holder take the policy he should pay the premium is not there, but he can
remit it from any place.

6) BSLI also provide Interactive voice Responsive System (IVRS) where any policy
holder can get the code number from BSLI office and he can get the information
about there policy.

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 COMPETITORS

Aviva Life Insurance

HDFC Standard Life Insurance

Life Insurance Corporation (LIC)

ICICI Prudential Life Insurance

SBI Insurance

Ing Vysya Insurance

Max New York Life Insurance

Met Life India Insurance

Peerless Insurance

Met Life Insurance

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 INDUSTRIAL AREA ANALYSIS

BSLI is a company, which is running since 6 years, by giving good service to its
customers. The branch offices of BSLI are also doing its job very well by providing
satisfactory service to its customers. BSLI has totally 597 branches which includes the
Bijapur branch also. The Bijapur BSLI branch office was started in 2007. the numbers
of present employees are 19.

This Bijapur branch comes under Bangalore division. All the branch offices are
headed by the Divisional Offices only. This Bijapur branch office comes under south
centre zone together Karnataka.

Bijapur branch is having rental building at Sankeshwar Apartment, B.L.D.E

Road. Branch office is having all the facilities which are helpful to policy holders and
to the staff.

The total agents of the branch are nearly 390 from urban and rural areas. By this
they all are doing their business to the rural areas also. BSLI is providing employment
to the urban and as well as rural people.

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 In this Bijapur branch the Approved Training Centre is also there, which is
doing its work effectively by giving a good training its forthcoming agents. Here
training will give up to one month and after the license is also provided by the Training
Centre only to the trainees, to do the work freely or independently.

They appoint employees only on the basis of written test and Interview. First of
all they call application and take the written test by considering the average percentage
of the applicants degree result and the afterwards select then through the written test
and their interview.

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 FUNCTIONAL AREA ANALYSIS

Functional area analysis is very important, without studying about the department
of the company the researcher can not get the clear idea about the research study and
also market potential of a company.

So, there are Seven Departments in BSLI Office. Those are as follows.

Sales Department

NB (New Business) Department

PS (Policy Servicing) Department

Claims Department

SSS (Salary Saving Scheme) Department

Account Department

OM (Office Manage) Department

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Sales Department:

The sales department is maintained by sales managers. This department is

concerned with appoint of agents by the registering their names, giving or providing
license to them review of business, club membership, license renewal commission,
payment and registration etc.

NB(New Business) Department:

After registration in sales department, the NB department will take over

the work i.e, processing of proposals, issuing the policies to policy holders and it deals
with related aspects of policy.
Medical test of policy holders and rejection of the proposals is concerned with
NB department. Dispatching of policy bonds with attesting stamp also comes under NB
department.

PS (Policy Servicing) Department:

This department deals with changing of address, renewal of policy i.e,

renewal of lapsed policy, assignment, alterations, issuing of policy bonds, preparation
of policy bonds is also concerned with PS Department.

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Claims Department:

Claims department is concerned with the settlement of Claims including

death, maturity, survival benefit of policies, discount of policies; Surrender of policies
is also dealt with this department. BSLI is very prompt in time.

SSS(Salary Saving Scheme) Department:

This department deals with adjustment of salary saving scheme, premium and
paying authority is quite properly adjusted to account of each employees in this
department. Incentives are given to the paying authority for regular and prompt
remittance of premiums.

Accounts Department:

Accounts department deals with maintenance of account Cash counter, receipts

and payments, maintaining adequate balance at banks to pay the claims and transfer of
assets, funds to the divisional office is concerned with accounts department.

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OM (Office Maintenance) Department:

This department is concerned with department of employees salary, increments,

deduction of loans etc. It concerns with management of office furniture and assets of
the company. It also deals with payment of tax and other payments of the office.

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 SUGGESTIONS

BSLI should improve it service in all the areas.

Extensive and Intensive publicity through all media is essential.

Give more benefits to customers after pension.

BSLI should take care of all polices holders in the subject of transferring the
policy from one place to another.

BSLI should reach the high-class people also.

The premiums are very high so, keeping the premiums very affordable that
should be capable for a low class people to do insurance.

Clerical staff should co-operate with the policy holders.

A large section of the population is low-income group workers both in organized

and unorganized sector remain uncovered, offered vast potential.
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 LIMITATIONS

Though the research was structured one it had following limitations

The scope of the study was limited for the study of research, as the data collected
from the city cannot be projected for whole region.

The project required analyses of different area with in limitations of time it is

very difficult to carry out the entire thing in full depth.

The fact and figure given by respondents are assumed to be true without complex
verification.

More time consuming. Means the time duration was not sufficient.

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 SCOPE OF THE PROJECT

This study helps to know the competition level of BSLI.

This study helps to know the objectives of the BSLI

This study helps to know the history of the BSLI.

This study helps to know how BSLI has opportunity in the market.

Through this study we can find out limitations of the study.

Through this study we can know the facilities provided by the BSLI to its
customers as well as to its agents.

Through this it is possible to know department of branch office of BSLI.

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 METHODOLOGY

Methodology means the methods used to collect the information

to do the research work smoothly. There are two types of methodology are
used. Those are as follows.

Primary Method
Secondary Method

Primary Method:

Primary Method means it is the direct method of collecting information.

Primary data are generated in an investigation according to the needs of the problems
in hand. Here I collected the information directly from the employee of the BSLI by
interviewing them.

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Secondary Method:

It is secondary relevant information i.e., collected through some other external

sources. Secondary data can be defined as data collected by some one else for purposes
other than solving the problem .The are two types of secondary data. Those are as
follows…
Internal Secondary Data
External Secondary Data

Internal Secondary Data:

It is the data which is collected through the records and reports of the company
inside the organization. Here I collected the information from some records of related to
history of BSLI, Sales records, manuals and Pam plates etc.

External Secondary Data:

It is the data which is collected through out-side the company i.e, diaries of the
BSLI etc.
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 CONCULSION

The BSLI functioning is well planned. As competition gets hotter BSLI need to
catch up with new concepts to keep moving forward, established ways may be
challenged and new synergies need to be found. Traditional products need to be
renewal and repositioned. Different market segments need to be discovered or created.
Old ideas will cease to work or a competition will render them absolute. It is only
better and different concept that will provide the competitive edge.

What makes BSLI special and different perhaps is the courage and density with
which we try to move to the model. All companies are offering similar of identical
products and services to the same group of target customers. BSLI has been strong in
its geographic spread and does not encounter any competition in the rural sector, at the
movement.

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 BIBLIOGRAPHY

NAME OF THE BOOK NAME OF THE AUTHOR

Organization Behavior S.S.Kanaka

Human Resource Management P.B.Subbharao

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