Case Study on Reliance Life Insurance 129
Awarded the Jamnalal Bajaj Uchit Vyavahar Puraskar 2007—Ceriti cate of Merit in the nancial
services category by the Council for Fair Business Practices (CFBP)
VISION, MISSION AND GOALS
The vision of the company is
Empowering everyone to live their dreams.
The mission of RLI is to
Create unmatched value for everyone through dependable, effective, transparent and pro table
life insurance and pension plans.
The corporate goals of the company are as follows:
RLI would strive hard to achieve the three goals mentioned as follows :
Emerge as a transnational life insurer of global scale and standard
Create the best value for customers, shareholders and all stakeholders
Achieve impeccable reputation and credentials through best business practices
The vision of RLI is to enable everyone to realize their dreams—be it a safe post-retirement life, a dream
house or a secure future for one’s children. RLI helps customers to ful l their dreams. The mission of RLI
is to ful l the dreams of its customers by providing them with products that satisfy their needs.
STAKEHOLDERS AND THEIR OBJECTIVES
Figure 8.2 shows different stakeholders in insurance domain and their objectives.
106,337
184,201
March 2007 March 2008
Number of Agents
162
744
March 2007 March 2008
Number of Branches
New Business Premium
(Rs Billion)
9.3
27.5
196%
FY07 FY08
Figure 8.1 RLI—Growth
Figure 8.2 Stakeholders and their Objectives
Orderly Growth of Insurance
Industry
Protect the Interests of the
Policy Holder
Regulator (IRDA)
Provide the Right Insurance
Product to the Customer
Reduce the Cost of Operation
Employees
Awareness About the Product
Buy Product that Really Suits
Hassle-Free and Prompt Service
Customers
M08_MOHA9844_01_SE_C08.indd 129 16/05/11 12:55 PM

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