United India Insurance Company Limited

UNITED INDIA INSURANCE COMPANY
EXECUTIVE SUMMARY
The United India Insurance Company Limited (UIIC) is a general insurance provider. It offers a range of personal and commercial general insurance products. The companys personal general insurance product portfolio includes house holders policies, covering building and its contents, jewelry and valuables, domestic appliances, baggage while on travel, accidental injury causing death/disability, and liability to third parties; personal accident policies; mediclaim policies; and uni-Medicare insurance, covering reimbursement of hospitalization expenses of illness/diseases or injury sustained.
The United India Insurance Company Limited - Strategic SWOT Analysis Review provides a comprehensive insight into the companys history, corporate strategy, business structure and operations. The report contains a detailed SWOT analysis, information on the companys key employees, key competitors and major products and services.
This up-to-the-minute company report will help you to formulate strategies to drive your business by enabling you to understand your partners, customers and competitors better.
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INDEX
SR. NO. 1 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. INTRODUCTION
PARTICULARS
PAGE NO. 3 7 8 12 13 15 17 19 20 21 22 24 29 32 36 37
BASIC FACTS OF THE COMPANY ABOUT THE COMPANY COMPANY PROFILE CORPORATE MISSION AND VISION OBJECTIVES AND METHODOLOGY PRODUCTS OF UIIC RECENT DEVELOPMENTS PROFIT AND PERFORMANCE FUTURE PLANS WORKMEN COMPENSATION OF UIIC FINANCIAL ANALYSIS PRODUCT PORTFOLIO FINDINS AND SUGGETIONS CONLUSION BIBLIOGRAPHY
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1.INTRODUCTION
UNITED INDIA INSURANCE COMPANY LIMITED
United India Insurance Company Limited (UIIC) is the one among the 4 public General Insurance Companies of India and a leading General Insurance player including public and private sector. With the networth of Rs 4,587 croreas as on September 30, 2011, The company has more than three decades of experience in Non-life Insurance business. It was formed by the merger of 22 companies, consequent to the nationalisation of General Insurance companies in India. Its Head Quarters is at 24, Whites Road, Chennai, India.
United India Insurance Company is an old hand in the insurance sector, with its presence dating back to 1938; it has been in the Indian markets for quite some time now. It was after nationalization of banks and insurance companies in the year 1972 that this company grew rapidly in its magnitude. It is praise worthy to mention here that the United India Insurance Company has almost 1340 centers across India and abroad. They have a happy clientele of one crore policy holders. Now this is quite a number to reckon with. If so many people have vested their faith in United India Insurance Company, it must be worth an investment.
United India Insurance provides investment policies in fire, marine, motor, liability and industry. Some of its popular policies are- Personal Accident Policy, Mediclaim Policy, Overseas Mediclaim Policy for Business and Holiday, Overseas Mediclaim Policy for Employment and Studies, Overseas Mediclaim Policy for Corporate Frequent Traveler, Road safety package Policy and Unimedicare Policy. United India Insurance has a wide range of offers in medical insurance. Among motor insurance they have covered all the important sections, namely- Private Cars insurance, two wheelers insurance and Commercial vehicles
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UNITED INDIA INSURANCE COMPANY insurance. With so much of variety to offer in insurance sector, United India Insurance is undoubtedly a popular and strong share holder of insurance market.
Apart from providing insurance to general and regular purposes, United India Insurance is also known for providing insurance covers to large customers like ONGC Ltd, GMR- Hyderabad International Airport Ltd, Mumbai International Airport Ltd Tirumala-Tirupati Devasthanam etc. providing insurance to them is a daunting task and this was made viable by United India Insurance with the help of its highly skilled staff. United India Insurance has also provided insurance for developmental and welfare purposes like Vijaya Raji Janani Kalyan Yojana ( covering 45 lakhs women in the state of Madhya Pradesh) , Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakhs of families) and National Livestock Insurance. Insurance provides financial protection against a
loss arising out of happening of an uncertain event. A person can avail this protection by paying premium to an insurance company.
A pool is created through contributions made by persons seeking to protect themselves from common risk. Premium is collected by insurance companies which also act as trustee to the pool. Any loss to the insured in case of happening of an uncertain event is paid out of this pool.
Insurance works on the basic principle of risk-sharing. A great advantage of insurance is that it spreads the risk of a few people over a large group of people exposed to risk of similar type.
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DEFINITION: Insurance is a contract between two parties whereby one party agrees to undertake the risk of another in exchange for consideration known as premium and promises to pay a fixed sum of money to the other party on happening of an uncertain event (death) or after the expiry of a certain period in case of life insurance or to indemnify the other party on happening of an uncertain event in case of general insurance. -Insurance Act 1938 The party bearing the risk is known as the 'insurer' or 'assurer' and the party whose risk is covered is known as the 'insured' or 'assured'.
CONCEPT OF INSURANCE
The concept behind insurance is that a group of people exposed to similar risk come together and make contributions towards formation of a pool of funds. In case a person actually suffers a loss on account of such risk, he is compensated out of the same pool of funds. Contribution to the pool is made by a group of people sharing common risks and collected by the insurance companies in the form of premiums.
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EFFECT OF UIIC
Risk of 5 house owners is spread over 1000 house owners in the village, thus reducing the burden on any one of the owners United India Insurance Company Limited was incorporated as a Company on 18th February 1938. General Insurance Business in India was nationalized in 1972. 12 Indian Insurance Companies, 4 Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General Insurance operations of southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited. After Nationalization United India has grown by leaps and bounds and has 18300 work force spread across 1340 offices providing insurance cover to more than 1 Crore policy holders. The Company has variety of insurance products to provide insurance cover from bullock carts to satellites. United India has been in the forefront of designing and implementing complex covers to large customers, as in cases of ONGC Ltd, GMR- Hyderabad International Airport Ltd, and Mumbai International Airport Ltd TirumalaTirupati Devasthanam etc. They have been also the pioneer in taking Insurance to rural masses with large level implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana ( covering 45 lakhs women in the state of Madhya Pradesh) , Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakhs of families) , National Livestock Insurance and many such schemes.
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2.BASIC FACTS OF THE COMPANY
Name
: UNITED INDIA INSURANCE COMPANY LIMITED
Address
: Br Office P.B. No. 97, Ashiqua Towers, Narangapuram, Thalassery 670101 Kannur Dt. Kerala.
Activity Sr. Branch Manager Administrative Officer Regd. & Head Office Net income Total employees Web site Chairman-cum-Managing Director Director & General Manager General Manager General Manager General Manager & Financial Advisor General Manager General Manager Chief Vigilance Officer
: General Insurance : P. K. Anil Kumar : Harish Kumar : 24, Whites Road, Chennai 600014 : 520 Crore INR : 21000 : www.uiic.in : G. Srinivasan : Milind Kharat : V. Harshavardhan : P C James : S K Gosh : K Sanath Kumar : P J Joseph : S P Sinha
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3.ABOUT THE COMPANY

United India Insurance Company Limited was incorporated as a Company on 18 February 1938. General Insurance Business in India was nationalized in 1972. 12 Indian Insurance Companies, 4 Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General Insurance operations of southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited. After nationalization United India has grown by leaps and bounds and has 18300 work force spread across 1340 offices providing insurance cover to more than 1 Crore policy holders. The Company has variety of insurance products to provide insurance cover from bullock carts to satellites. United India has been in the forefront of designing and implementing complex covers to large customers, as in cases of ONGC Ltd, GMR- Hyderabad International Airport Ltd, Mumbai International Airport Ltd Tirumala-Tirupati Devasthanam etc. It has been also the pioneer in taking Insurance to rural masses with large level implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana ( covering 45 lakhs women in the state of Madhya Pradesh), Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakhs of families), National Livestock Insurance and many such schemes. It has also made its presence in more than 200 tier II & II towns and villages through its innovative Micro Offices. United India Insurance Company Limited was incorporated as a Company on 18th February 1938. General Insurance Business in India was nationalized in 1972. 12 Indian Insurance Companies, 4 Cooperative Insurance Societies and Indian operations of 5 Foreign Insurers, besides General Insurance operations of southern region of Life Insurance Corporation of India were merged with United India Insurance Company Limited. After Nationalization United India has grown by leaps and bounds and has 18300 work force spread across 1340 offices providing insurance cover to more than 1 Crore policy holders. The Company has
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UNITED INDIA INSURANCE COMPANY variety of insurance products to provide insurance cover from bullock carts to satellites. United India has been in the forefront of designing and implementing complex covers to large customers, as in cases of ONGC Ltd, GMR- Hyderabad International Airport Ltd, and Mumbai International Airport Ltd TirumalaTirupati Devasthanam etc. They have been also the pioneer in taking Insurance to rural masses with large level implementation of Universal Health Insurance Programme of Government of India & Vijaya Raji Janani Kalyan Yojana ( covering 45 lakhs women in the state of Madhya Pradesh) , Tsunami Jan Bima Yojana (in 4 states covering 4.59 lakhs of families) , National Livestock Insurance and many such schemes. The control on general insurance business started with the insurance act 1938, setting up the government control. In 1968 it was amended to add more provisions to and also Add Tariff Advisory Committee. This Tariff Advisory Committee now fixes the rates terms and conditions for many branches of general insurance like Fire, Engineering, Marine, Hull and Workmen compensation insurance. In 1972, the General Insurance (Business Nationalisation) Act was passed. It set up GIC and its subsidiaries. 107 private companies were merged into GIC and its subsidiaries and these companies included both Indian and foreign companies. General Insurance Corporation was formed as company under the Companies Act unlike LIC, which was setup as corporation. The GIC has only one office in Mumbai and is the holding companies for all the subsidiaries. It formulates general policy guidelines for general insurance industry and control the investment and reinsurance policy of the companies.
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UNITED INDIA INSURANCE COMPANY GIC had four subsidiary companies, namely (with effect from Dec'2000, these subsidiaries have been de-linked from the parent company and made as independent insurance companies. 1. The Oriental Insurance Company Limited 2. The New India Assurance Company Limited 3. National Insurance Company Limited 4. United India Insurance Company Limited. In April 1993, the govt setup a high power committee headed by R. N. Malhotra, former Governor of Reserve Bank of India. The committee submitted its report to the ministry on 7th January 1994. On 23rd January 1996, The Insurance Regulatory Authority was set up by a Government order. N. Rangachari has taken over the function of the controller of the Insurance also. In that capacity he has the controlling authority over the General Insurance and Life Insurance business in India. In the budget speech of July 1996, the govt formally announced its plans to open the Insurance Industry and also the intention of bringing an Insurance Regulatory Authority Bill 1996 Insurance Regulatory and Development Authority Act 1999 An Act to provide for the establishment of an Authority to protect the interest of the policy holders of insurance policies, to regulate, promote and ensure orderly growth of the insurance industry and for matters concerned there with or incidental thereto and further to amend Insurance Act 1938, and General Insurance Business (Nationalisation) Act 1972. On 26th August 1998 the Reddressal of public Grievances Rules 1998 was issued by the Insurance Division, Ministry of Finance by which the Govt of India setup the Insurance ombudsman scheme for GIC and LIC. This will handle cases against Industry from the public and would take over a large part of the consumer
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UNITED INDIA INSURANCE COMPANY forums. The scope limited to personnel lineses of insurance i.e. Policies taken on individual capacity. Insurance Industry has Ombudsmen in 12 cities. Each Ombudsman is empowered to redress customer grievances in respect of insurance contracts on personal lines where the insured amount is less than Rs. 20 lakhs, in accordance with the Ombudsman Scheme. General Insurance Corporation of India GIC and its subsidiaries have completed a Gross Premium of Rs. 8086 crores as on 31-03-2009. The industry registered an underwriting loss of 384.20 crores, but it because of its investment income of Rs. 2056 crores, it recorded a net profit after tax of Rs. 1255 arores. The consolidated result of 2008-2009. The total asset as on 31-03-2009 stood at 21,563 crores.
Three Phases of De-Tariffing

Indias general insurance industry has undergone de-tariffing in three phases: 1994 -- marine cargo, personal accident, health, banker liability and aviation 2005-06 -- marine hull segment 2007 -- fire, engineering and motor own damage (OD). However, the de-tariffing did not immediately allow for free pricing. Instead, insurers were required to follow the file and use method, whereby they were expected to file a charter of proposed rates, which was then approved by IRDA. The restrictions on price discounts during the initial periods were intended to ensure orderly price adjustments. They were removed in January 2008. The only segment that remains under a tariff regime is the third party motor business, although there has been a large upward revision in this areas premium rates by regulators in recent times.
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4.COMPANY PROFILE
UNITED INDIA INSURANCE CO

United India Insurance co is formed as a subsidiary of General Insurance Corporation of India. Their quarters is in Chennai. Now they are the second largest insurer in India and the largest in Rural insurance and Insurance of major power plants. They have carved a niche for themselves in this segment because of their deep rooted commitment combined with experience and expertise over 7 decades. Investment Information and Credit Rating Agency of India Limited (ICRA) has awarded them with iAAA rating indicating sound financial position and highest claims paying capacity. The solvency margin is pegged at 3.32 and the net profit of the company for 2008-09 showed a healthy Rs. 745.485 crores. With over 1350 offices spanning the length and breadth of the country they have been at advantage to serve customers better. Besides this their core strength lies in their human resources. Having a work force of 17000+ people and an army of 2000 officers committed to the service of their customers, they are in a position to make light of the fact that they issue more than 1 crore policies in a year and settle more than 8 lac claims annually. They have 25 Regional Offices, 1 Regional Cell, 2 Large Corporate Brokers Unit, 362 Divisional Offices, 684 Branch Offices and 288 Micro Offices spread around the country. They have 17488 personnel working with them. There are 4451 officers (Class I) 2013 Development Officers (Class II) 8508 Staff Senior Assistant and Assistant (Class III),2516 Sub staff, Drivers, Peons and thousands of agents.
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5.CORPORATE MISSION AND VISION

CORPORATE MISSION
The most preferred insurer in India with global footprint & recognition. Trusted brand admired by all stakeholders The best-in-class customer service provider leveraging technology & multiple channels The provider of a broad range of innovative products to meet the needs of all customer segments Great place to work with highly motivated and empowered employees Recognized for its contribution to the society. To provide insurance protection to all. To ensure customer satisfaction. To function on sound business principles. To help minimise national waste and to help develop the Indian economy.
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CORPORATE VISION
The most preferred insurer in India, with global footprint & recognition. Trusted brand admired by all stakeholders. The best-in-class customer service provider leveraging technology & multiple channels. The provider of a broad range of innovative products to meet the needs of all customer segments. Great place to work with highly motivated and empowered employees. Recognized for its contribution to the society.
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6.OBJECTIVES AND METHODOLOGY
RESEARCH PROBLEM To study the product portfolio of UNITED INDIA INSURANCE COMPANY LIMITED. OBJECTIVES OF THE STUDY 1. To analyse the product portfolio in detail. 2. Put forth some suitable suggestions to improve performance of the Company on the basis of findings of the study. 3. To analyze the attitude of the customers towards companies products. 4. To make suggestions and recommendations to the management. RESEARCH METHODOLOGY 1. Methodology of data collection:To conduct the studies different methodologies have been adopted. Both primary and secondary data are used. Primary data were collected by
conducting personal interviews with the departmental heads, casual talks with workers and secondary data were collected from the organization manuals. Primary sources Direct interview with the departmental heads , detailed interview
with the divisional heads and by interaction with workers and customers of the company . The data is also collected by observing the functions of the organization. Secondary sources The secondary sources of data are: 1. Organization documents. 2. Departmental manuals.
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UNITED INDIA INSURANCE COMPANY 3. Annual reports 4. Periodicals, books etc. published by the company. 5. Proposals Forums.
2. Methodology of data analysis:The data collected were edited, coded and processed. presented through tables, graphs etc. The information is
SCOPE OF THE STUDY This study is restricted to the analysis Product portfolio of United India Insurance Co Ltd. For the purpose of the study the data relating various products benefits premium risk covered are used. LIMITATION OF THE STUDY 1. In the given short time it is very difficult to cover all area aspect of the firm. 2. Only product portfolio is analyzed in the study. The firms overall performance cannot be evaluated in the study. 3. Company keeping some data confidential due to competition.
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7. PRODUCTS OF UNITED INDIA INSURANCE CO. LTD
United India comes up with a slew of insurance policies to offer coverage for satellites to bullock carts. The products of the company can be broadly categorized into the following:
Personal Policies

Personal Accident Householder Unimedicare Mediclaim
Commercial Policies

Marine Insurance Fire Insurance Industrial Insurance Motor Insurance (vehicle insurance) Liability Insurance
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Car insurance policies offered by United India Insurance Co. Ltd.

The company provides one of the most popular automobile insurance products in India. United India Insurance offers two types of car insurance policies. The first policy offers cover for damage or loss to the car and/or equipments as a result of fire, accident, lightning, self ignition, theft, burglary, riot, terrorist operations, strike, earthquake, intentional damage, cyclone, flood, landslide, and losses in transit by road, rail, elevator, air, lift, or inland watercourses.
The second type of policy covers the third party property damage and bodily injury and/or death liability, and personal accident cover for the owner driver.
Awards and recognitions of UIIC

The company has won the following awards and recognitions:
ICRA (Investment Information and Credit Rating Agency) has awarded UIIC Ltd. with the 'iAAA' ranking for its claims paying capacity for the third consecutive year. This ranking shows the maximum claims paying capacity of the company, its powerful base, and its overall financial efficiency for fulfilling the claims of the policyholders.
PCQuest, one of India,s leading Information Technology Magazines in India, has chosen the MPLS VPN project of UIIC as one of the most effectively carried out IT projects in 2007. The information of the project are available in the PCQuest Magazine June 2007 issue. The MPLS VPN project of UIIC was chosen following a stringent selection method where 250 IT projects of different companies in India were assessed. Later on, a panel of judges comprising wellknown individuals had chosen the best 21 IT projects put into operation in 2007, in which the MPLS project of United India Insurance Company ranks significantly.
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8. RECENT DEVELOPMENTS
n November 2007, at Hyderabad,company's top management launched an enterprised level transformation project named UNISERGE, under this historic intiative, company identified and set up 6 themes in order to remain a leader in Indian General Insurance market and also stressed on the effective use of IT. In Addition, it has been also decided to Create incentive system and link to rigorous performance management system for the Enhancement of organizational accountability and to strengthen HR structure of the company. Recently, on January 11, 2012, The Company (often abberiviated as UIIC), has been entrusted by The Govt. of Tamil Nadu for implementing the new Comprehensive Health Insurance Scheme...[1] This scheme would cover 1.34 crore families of Tamil Nadu State and has an annual outlay of Rs. 750 crore. Tamil Nadu Chief Minister, on the launch, handed over first quarterly insurance premium installment of Rs. 183.64 crore to Mr. G. Srinivasan, CMD of the United India Insurance.
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9. PROFIT AND PERFORMANCE

The United India Insurance reported over 50% jump in its profit after tax at Rs 341.07 crore for the first 6 months of the financial year 2011-12. The Chennaibased insurer had reported a Rs 218 crore profit during the same period last year.[2] Declaring the half-yearly results, United India Insurance Chairman and Managing Director G Srinivasan told reporters the company's growth has exceeded that of the industry. "We grew by 27 per cent over the industry's growth of 23 per cent ... our market share also increased," he said. During the half-year period ended September 30, 2011, the company collected a total premium of Rs 4,033 crore, up by 27 per cent from Rs 3,178 crore in the year-ago period. "We have set a target premium of Rs 8,000 crore this year," he said. On plans for the year 2011-12, he said the company would focus on retail, micro-small and medium enterprises and rural insurance segments. "We will focus on agency channel and bancassurance. Agency channel contributed 40 per cent and bancassurance 7 per cent (in the first half of the year). We expect it to increase in the years to come," he said. Replying to a question, he said the company would bid for the Tamil Nadu government's health insurance scheme. The investment income of the company for the first-half of the year stood at over Rs 803 crore as of September 30, 2011. A steep reduction in management expenses(to 25% from 37%) claims outgo and an increase in premium income across segments has enabled the company to post 57 percent growth in net profit for the first half of the current fiscal. United India earned Rs.803 crore from its investments during the first six months of the 201112. The market value of the company's investments at the end of second quarter stood at Rs.15,803 crore
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10. FUTURE PLANS

Logging an average business growth of 27 percent in 2011-12, India's leading non-life insurer United India Insurance Company Ltd declared that it is targeting a gross premium of Rs.8,000 crore and sizeable reduction in underwriting losses premium less claims outgo - to Rs.900 crore from last year's figure of Rs.1,760 crore. The company would focus the retail, and small and medium enterprises (SME) segments for growth. It is in the process of adding further to its 48,000 agents and also to open around 100 one-man offices across the country. Currently, there are 400 such micro-offices bringing in around Rs.275 crore premium. Company is waiting for approval from the insurance regulator IRDA to introduce three products under the health portfolio
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11. WORKMEN'S COMPENSATION POLICY OF UNITED INDIA INSURANCE CO.LTD.

Workmen's Compensation Policy Of United India Insurance Co.Ltd.
Workmen's Compensation Policy is an insurance policy which provides cover to the employer against any employment injury of any of his/her employees who can be defined as workman under the Workmen Compensation Act.
Risk coverage
This policy provides coverage to the insured against his liability as an employer in the event of any accidental injuries that his employees may suffer during work. It also provides cover on extra premium-medical, hospital and surgical expenses including the cost of transport to hospital in the event of any accidental injuries of the employees. Besides, on payment of the extra premium it also covers the liability regarding certain diseases as mentioned in Part C / Schedule III of Workmen Compensation Policy Act that occurs during the course of employment.
Eligibility
This policy cover can be taken up by any employer whether as a Principal or contractor who has employed "workmen" as defined in Workmen Compensation Act to cover his liability to them as per the statute and at common law. In certain cases, employer can choose to provide cover to any other employees who are not included under workman list under different table.
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UNITED INDIA INSURANCE COMPANY What and how much the policy will pay Under the provisions of Workmen Compensation Policy Act in the event where an employment injury causes dead , then the policy will pay an amount of 40% of the monthly wages of the dead employee which again is multiplied by a relevant factor or Rs. 20,000/- which ever is more. Similarly, in the event of permanent disability as a result of employment injury the policy will pay 50% of the monthly wages of the injured employee which is multiplied by a relevant factor or Rs. 24,000/- which ever is more.
United India Insurance Company is a Public Sector Undertaking and is one of the leading general insurance companies in India. United India Insurance Company has been an active player in implementing numerous Government initiatives such as the Universal Health Insurance Programme, Vijaya Raji Janani Kalyan Yojana that covers 45,00,000 women in the state of Madhya Pradesh,Tsunami Jan Bima Yojana covering 4,59,000 families across 4 states and National Livestock Insurance. An assortment of highly experienced and learned intellectuals makes up the management team of United India Insurance Company. G Srinivasan is the Chairman cum Managing Director of United India Insurance Company. A variety of insurance products are offered by United India Insurance Company to suit the different individual needs and preferences of the customers. These include insurance products with respect to motor, travel, health, accident and home insurance. The company also caters to SME and corporate clients with customized solutions for insurance and risk consultancy, liability, property, liability, marine and miscellaneous.
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12. FINANCIAL ANALYSIS
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13. PRODUCT PORTFOLIO
United India Insurance Health Plans:

United India Insurance Company plans guarantee peace of mind for the insured / family against financial perils and inadequacies due to sudden ill health and hospitalization. They have a plethora of health insurance plans that cater to individual, family and senior citizens.

Family Medicare - Family Health Plan Health Insurance Policy-Gold Health Insurance Policy-Platinum Senior Citizens Health Insurance Policy Top Up Medicare Policy Super Top Up Medicare Policy
United India Insurance Car Insurance Plans:

United India Insurance Company plans provide you with car insurance that offer you with comprehensive cover and protection against third party damage.
Motor Package and Liability only Policy
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United India Insurance Travel Insurance Plans:

United India Insurance Company Policies are provide you with travel insurance on your holidays, business trips or visits to friends & family abroad.
Baggage Policy
Suhana Safar Policy Marga Bandhu Policy It is advisable to compare all United India Insurance Company General insurance plans from other General insurance companies in India to choose the best insurance plan that suits you the most.
United India Insurance Company Distribution Network:

United India Insurance Company has grown tremendously and currently has a workforce of 18,300 employees and operates across 1340 offices. It is supported by more than 1 crore policyholders and has products that provide insurance cover to small farmers and individuals as well as to large corporations such as the ONGC Ltd., GMR- Hyderabad International Airport Ltd. and Mumbai International Airport Ltd.
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UNITED INDIA INSURANCE COMPANY UNIVERSAL HEALTH INSURANCE SCHEME for BPL FAMILIES The UNIVERSAL HEALTH INSURANCE policy will be available to both Individuals as well as in Group. Each Insured should cover all eligible members (insured persons) under one group policy only. In other words different categories of eligible members shall not be allowed to be covered under different group policies. It is not permissible to issue any unnamed group policy. The Individual Policy will be issued in the name of the earning head of family with details of insured family members. The Group policy will be issued in the name of the Group/Association/Institution (called insured) with a schedule of names of the members including his/her eligible family members(called Insured persons) forming part of the policy.
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14.FINDINGS AND SUGGESTION

FINDINGS
1. As a public sector company they having lot of social welfare plans were the private corporates are not interested such as; Universal Health Insurance Scheme For BPL Families, Janata Personal Accident, Bhagyashree Child Welfare Policy, RajaRajeshwari Mahila Kalyan Yojna Policy, Mother Teresa Women & Children Policy, Jan Arogya Bima Policy, Cattle & Livestock Insurance, Agricultural Pumpset Insurance, Poultry Insurance, Gramin Accident Policy, Plantation Insurance. In these policies they charging only nominal premium and in some policies they are providing subsidies from Govt of India. 2. The companys marketing activities are much focussed on personnel policies. 3. This Thalassery Branch is located in coastal area but there are no ports, due to this the sales of marine insurance policies is very few. Only for inland and rail transit marine policies are issuing. 4. Majority portion of the policies issuing from this branch includes Mediclaim, Motor insurance, Standard Fire and Special Peril Policy. 5. Sales of Social policies are few. It is due to peoples are not known about these policies.
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UNITED INDIA INSURANCE COMPANY 6. Peoples in this area were not involved in farming so there is no scope for Agricultural Pump set Insurance, Poultry Insurance, Plantation Insurance 7. The company facing cutthroat competition from both private and public sector companies. Their major competitors include The New India Assurance Company Limited, National Insurance Company Limited, Reliance General Insurance Company Limited,
Bajaj Allianz General Insurance Company Limited,
ICICI Lombard General Insurance Company Limited. 8. Lack of awareness existing among the customers regarding policy terms, perils covered, discounts available, procedure for applying claims. 9. Customers doesnt having much idea regarding how claims are calculating, conditions regarding claims calculation, due to this reason some customers are complaining that the insurance companies are good in collecting premium but not good in paying claims.
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SUGGESTIONS
1. The social welfare policies are designed for serve the people these policies not contributing much profit so they can go for low budget advertisement, and then only these will reach among peoples. 2. The company can also focus on the marketing of commercial policies because it will contribute more premium and profit. 3. The company can go for awareness programme regarding to the social policies, because they can serve the community in better manner by these policies. 4. For meeting the competition they can Rather than try to satisfy everyone, marketers start with market segmentation and develop a market offering that is positioned in the minds of the target market. The company must analyze the patterns of segmentation in a market to get a sense of their positioning alternatives and that of the competitors, Targeting strategies can the company use to select and enter the most attractive market segments, The company can update their portfolio timely with reference to competitors products. 5. Once when issuing the policy they can provide information regarding policy terms, perils covered, discounts available, procedure for applying claims, how claims are calculating, conditions regarding claims calculation by talk as well as printed documents; it will avoids the customers lack of awareness.
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UNITED INDIA INSURANCE COMPANY 6. This branch having lot of agents; by motivation rewards and appreciation, practical oriented training by expertise will help to procure more business. 7. The company can keep in touch with the customers. They can send detail regarding the new policy brochures, renewal notices; it will help to retain the customers. 8. The company can effectively utilize technology platforms to retain customers. Almost every clerical work such as issuing of new policy, renewal of policy, underwriting, claims settlement are doing with the help of computer but they don t have customer interacting technology.
9. It is not compulsory to every staff in the organisation have good knowledge regarding whole functional area; but they must have ample knowledge regarding their own department.
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15.CONCLUSION
This study is mainly focused on the study of product portfolio of the company. The secondary data from various sources is used for this study. As a leading private sector insurance company they have their own foot prints in the industry. The company providing variety of products to the peoples which start from insurance cover for pedal cycle to satellites. Their social welfare policies are really a protecting hand to backward and typical middleclass peoples. Peoples in India receiving a lot of advantage from those policies which offering tie-ups with Govt of India. The company is much interested national development that we can understand by analysing their social and rural insurance policies. The study has enabled to arrive at the conclusion regarding product portfolio. Majority of the customers are satisfied with the products offered by this organisation. Any effort in the part of the company to develop the product portfolio will definitely improve the present position. I hope in the coming days they would be the largest insurer in India by all means.
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16.BIBLIOGRAPHY
-Philip Kotler, Marketing Management Millenium Edition, PEARSON

CUSTOM -WWW.UIIC.IN -WWW.GOOGLE.COM
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