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Business Philosophy

Business Philosophy. Shriram Group’s businesses strive to serve the largest number of common people (referred to as the “ aam admi ” in India)

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Business Philosophy

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  1. Business Philosophy • Shriram Group’s businesses strive to serve the largest number of common people (referred to as the “aam admi” in India) • The group’s continued focus on addressing customer needs, nurturing talent and bringing a home grown technology platform while delivering to the underserved segments of the economy, has ensured strong growth & sustainability for over 4 decades. • The group has constantly re-invented itself around its core objectives of Inclusive financing, thereby enhancing its customer base by serving the unaddressed needs in most geographies of the country.

  2. Shriram Group • The 76,000 Cr Shriram Group had its humble beginnings in the Chit Fund business over three decades ago. R Thyagarajan, AVS Raja and  T Jayaraman were the three founders who ventured into these businesses. • Today, Shriram has grown to become one of India’s largest financial groups, with increasing interest by investors • More than 90% of the group covers financial service activities, held by Shriram Capital • Non financial services is held by Shriram Entrepreunial Ventures Financial Services Non Financial Services • Information Technology & BPO • Engineering • Auto Machine Components • Pharmaceuticals/ Diagnostics • PET & Flexible Packaging • Real Estate Development • Business Process Management • Commercial Vehicle Finance • Consumer & Enterprise Finance • Life Insurance • General Insurance • Financial Product Distribution • Retail Stock Broking • Wealth Advisors • Chit Funds • Overseas Insurance • Mortgage Finance

  3. Shriram Group - An Overview People First Aam Aadmi (Common Man) Economic Inclusion Enabling Customer Wealth Creation & Prosperity

  4. Milestones

  5. Milestones

  6. Key Stats: Shriram Group FY 2013-14 (9 Months)

  7. Shriram Life Insurance • Philosophy • Take insurance to strata of society which needs it the most. • Frugal Management • Learn from Experience • Initial Strategy • Leverage Group Infrastructure & Agent Base • Serve the Group Customer Base • Current Strategy • Grow the business profitably • Penetrate in North, East & West • Continue to Consolidate in South • Leadership • Mentored By Visionary Shri R Thyagrajan (Padma BhushanAwardee & Founder Chairman - Shriram Group) Incorporated in 2005 & Started Operations in 2006 Reported profits in 7 out of 8 years of operation Most Profitable Private life Insurer @ Age 8 Paid up Capital – 175 Cr, Cumulative Profits – 231 Cr Policies Issued – 10.08 Lakh, Lives Covered – 52.21 Lakhs Total Gross Premium – 3685 Crores Presence in 24 States, Contribution from South @ 70% Among top 10 Private Insurers on Policy Count (FY 13-14) Asset Under Management – 1847 Crores Ticket Size at 15K vis-a-visPvt Industry Average of 24K

  8. About Sanlam • Leading Financial Group of South Africa • Diversified international Positioning in Africa, South East Asia, UK, Australia & USA • Business Verticals • Life Insurance • Estate Planning • Home & Personal Loans • Asset Management • Risk Management • Capital Market Activities • Financial Snapshot • (CY 2013) • New Business Volumes in excess of INR 100000 Crores • Asset base in excess of 3Lakh Crore • Operational Profit in excess of INR 3000 Crores • Shriram – Sanlam Partnership • Sanlam and Shriram life started as a joint Venture in 2005 • Sanlam has moved to take 26% stake in the holding company Shriram Capital Private & Confidential

  9. Business Performance – Since Inception

  10. Business Performance vis-à-vis Industry (8th Year of Operation)

  11. Industry Rankings (Policy Count)

  12. Industry Standing

  13. A New Concept In Life Insurance Marketing The SALES OFFICER MODEL

  14. Role of Sales Officer • Sales officer is the front lines sales person and has the primary responsibility of sourcing business after the initial training . He will report to ABM/ BM.

  15. Fixed Compensation to Sales Officer • He will be on the roles of the company and will be paid fixed salary as per company policy. He is eligible for all other employee benefits like PF & Medical Facility which is may NOT be available to other company’s AGENT .

  16. Monthly Target • Normally, every company is demanding 12 policy or minimum premium target to continue AGENCY. It is a INDIRECT pressure to continue your AGENCY and it’s INCOME. • In Shriram Life, He has a fixed monthly target of weighted new business premium which is approximately 2.3 times of his fixed salary. • If Target, is not complete then Proportionate Salary and Incentives will be payable. It means NO PRESSURE but flexibility to work as per you own wish, hours and ability.

  17. Incentives • Monthly incentive equal to 50% of the new WIP in excess of the minimum monthly target will be paid.

  18. Annual Bonus • Besides statutory bonus the SO will be paid 5% of the weighted new business premium if he has done more than 6 lacs of weighted premium in the year.

  19. Annual Clubs • SO will be entitled for club membership benefits on achieving annual club membership targets .

  20. Contests Prizes • The SO can participate in Various contests and win prizes like foreign trips, Gold, silver etc.

  21. Renewal Incentive/Income • SO can earn renewal incentive/Income on maintaining the desired persistency of the business done by him.

  22. Welcome Gift For business during the month of joining Welcome gift will be given (as mentioned in the table above ) to the Sales Officer by taking the count of policies processed within one month from the date of joining.

  23. You have…. Capability Capacity Time Market full of people searching for investment & protection avenues What stops you from prosperity!

  24. 54% of Indian population is below 25 years of age • By 2013, the net addition to productive population ( aged 25-44 years ) will be 33% of the Indian population • One quarter of world youth live in India • To Grow, THINK growth.

  25. Understand your BUSINESS • Define GOALS • Personal • Professional • Financial • Locate your CUSTOMERS • Age • Income • Decide Products – Develop competency in few products • Offer NEED BASED SOLUTION

  26. MDRT survey highlights the following quality for a successful insurance sales person HONESTY ( 39%) TRUSTWORTHINESS (29%) DELIVERS RESULT (19%) KNOWLEDGE (14%)

  27. HONOURING THE WINNERS

  28. SHARINGTHOUGHTS

  29. f For a GREAT new Beginning….

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