Slide 1:Group Members Varun Aggarwal Preeti Kumari Sapna Rana Nitin Kumar Important Activities in the Indian Context


Slide 2:Insurance = collective Bearing of Risk Oriental Life Insurance Company Bombay Life Insurance Company Two Acts : - Life Insurance Companies Act,1912 - Insurance Act,1938 Life Insurance (History)


Concept of Insurance in India :Concept of Insurance in India Difficulty in adoption of Life insurance in India People Mindset Urban Sector - Adaptability - Cultural influence Rural sector - Illiteracy - Fear factor - Lack of awareness


Slide 4:Common Practice Industry acceptance Problems Law and Practice


Slide 5:It was established in 1999 To protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. IRDA


Slide 6:Insurance Industry in the year 2000-2001 had 16 new entrants, namely: HDFC Standard Life Insurance Company Ltd. Max New York Life Insurance Co. Ltd.  ICICI Prudential Life Insurance Company Ltd.  Kotak Mahindra Old Mutual Life Insurance Limited  Birla Sun Life Insurance Company Ltd.  Tata AIG Life Insurance Company Ltd.  SBI Life Insurance Company Limited . Indian Insurance Company


Slide 7:ING Vysya Life Insurance Company Private Limited  Bajaj Allianz Life Insurance Company Limited  Metlife India Insurance Company Ltd.  Future Generali India Life Insurance Company Limited IDBI Fortis Life Insurance Company Ltd. Tata AIG Life Insurance Company Ltd.  SBI Life Insurance Company Limited . Cont…


Slide 8:Market Share of Private Players


Slide 9:How the trend has changed? New implementation? How private sector has evolved? Competition Changes after IRDA


How the trend has changed? :How the trend has changed?


New implementation? :New implementation?


INDIAN INSURANCE IN 21st CENTURY :INDIAN INSURANCE IN 21st CENTURY 2000 : IRDA start giving licenses to private insurers 2001 : TPAs in Health insurance 2001 : Royal Sundaram Alliance 2002 : Banks allowed to sell insurance plan


INDIAN INSURANCE IN 21st CENTURY :INDIAN INSURANCE IN 21st CENTURY 2004 : Government increase foreign equity stake 2005 : Introduce Micro – Insurance Navkalyan Yojana Sampooran bima yojana Ayushman yojana


INDIAN INSURANCE IN 21st CENTURY :INDIAN INSURANCE IN 21st CENTURY 2007 : online insurance Bajajallianz.com www.icicilombard.com Insurancepandit.com Bimaonline.com


Trends in Modern Era :Trends in Modern Era Need for Global Integration Multinationals' interest Nationalized Sector: A Performance Review Privatization: Start Up Strategy Repositioning by Nationalized Sector


Financials of Life Insurance :Financials of Life Insurance FDI and FII Flow through life insurance Sectoral development Repositioning by Nationalized Sector Cross Border Experience Future Possibilities (Next 5-10 Years) Employment and development Advertising expenditure increase