Delta Life Insurance Company: Case Study

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Preface
The study attempts to evaluate the performance of the private life insurance companies of Bangladesh, mainly I highlight the delta life insurance company. Insurance is a technical device of risk management. Risk taking is the sixth function of marketing and marketing is an important insurance function. It is a total system of business activities designed to plan, price promote and distribute want satisfying products, services and ideas to target markets in order to achieve organizational objectives. In the United States about 87% of the business is service oriented. In our country about 65% business activities are service oriented. Development of Business depends on the degree of service provided by the companies. Retention of customer depends on the relationship and service of the companies. Customer Relationship management is the widely popular marketing term that has given tremendous impact among the modern customer. Delta Life insurance Co. Ltd. who is deals with insurance business has now turn into service oriented organization to meet the demand of the 21st century as the competition has got momentum. Insurance is one of the important sectors that are playing a vital role in the economic development of the country. An attempt has been made to discuss the whole topics in two distinctive sector- organization related matter and marketing strategy respectively. Insurance industry is one of the strategic sectors in the country Acknowledgement is due to Dr. Afjal Hossain, Associate Professor of Marketing Department, Faculty of Business Studies, University of Dhaka, for his support and valuable co-operation the study. Yours sincerely, Md. Shafiul Azam Khan Date: August 24, 2004 ID no. # 40303019 Batch; 3rd;Semester - summer EMBA

Contents

TopicsPage
1.1 Introduction……………………………………………………4 1.2 Objectives………………………………………………………5 1.3 Different aspect of Life Insurance………………………6 ❑ Payment of premium…………………………………6 ❑ Kind of premium……………………………………….7 ❑ Claim………………………………………………………7 ❑ Surplus…………………………………………………...8 ❑ Reserve…………………………………………………..9 ❑ Surrender value……………………………………….9 ❑ Continuation of policy………………………………10 1.4 Marketing Strategies of DLIC…………………………….11 1.5 Sales analysis of the company…………………………..17 1.6 Conclusion……………………………………………………….202 Executive Summaries……………………………………..21 3 Bibliographies………………………………………………. 21

1.1.Introduction

Delta Life Insurance Company Ltd. is the leading life insurer in its kind in the private sector. It has also earned a reputation for service to its policyholders and its social commitments. At present, the company possesses total amount of assets and the life fund 488 corers and 443 corers respectively. The company has started its journey in 1987 and achieved a remarkable development within this short period.

It is possible only by dint of high levels of professional skill, loyalty and service provided by the company employees of all grades and categories. Now that the company is diversifying into new areas, and volume and value of its business are fast growing the Board of Directors and the Management.

As business people recognize that marketing is vitally important to the success of any organization, a new philosophy of doing business developed called the marketing concept, it emphasize a customer orientation and co-ordination of marketing activities to achieve the organization's performance objectives. As a business concern, Delta Life is performing both in the investment and in the marketing field...
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