Assignment
On
Overall Activities of Peoples Insurance Company Limited
Submitted To:
Tazrina Floora
Lecturer
Stamford University Bangladesh.
Submitted By:
Name: Md. Rafiuddin Biplab
ID No. BBA 042 13331
Name: Sadia Ahmed
ID No. BBA 042 13339
Name: Rownak Zahan
ID No. BBA 042 13345
Name: Mithun Kumar Saha
ID No. BBA 042 13358
Name: Md. Shahriar Abir
ID No. BBA 042 13370
Name: Mehedi Masud
ID No. BBA 042 13384
Date of Submission: 02/08/2011
LETTER OF TRANSMITTAL
01st August, 2011
Tazrina Floora
Senior Lecturer
Department of Business Administration
Stamford University Bangladesh
Dhanmondi, Dhaka
Subject: Submission of Assignment Report.
Dear Madam,
It gives us immense pleasure in presenting here with the assignment on “Peoples Insurance Company Limited”, which was assigned to us as partial fulfillment of the ‘Principle of Insurance’ course requirement. The Assignment gave the opportunity to have an insight on the insurance practice and its performance all over the organ-ization of Popular Insurance Company limited in Bangladesh. We have been tried to provide a brief discussion on overall performance of the company. We have tried heart and soul to make the report attractive, effective and useful.
The Assignment was very much valuable to us as it helped us to gain experience from the practical field. We are grateful to you for providing us this opportunity of gaining such practical experiences and to know how theoretical knowledge is applied in the real world.
With best regards,
Sincerely
Md. Rafiuddin Biplab (BBA 042 13331)
Sadia Ahmed (BBA 042 13339)
Rownak Zahan (BBA 042 13345)
Mithun Kumar Saha (BBA 042 13358)
Md. Shahriar Abir (BBA 042 13370)
Mehedi Masud (BBA 042 13384)
ACKNOWLEDGEMENT
For the successful accomplishment of this report, first we would like to thank the almighty. Next, with warm gratitude from the deepest of our heart we would like to remember all of them who have helped us from every side in accomplishing this report.
We feel very much lucky that we got a fabulous opportunity to carry on our Assignment on such a notable Peoples Insurance Company Limited. This has been working as the overall insurance business in Bangladesh since 1985.
We would like to thanks to Peoples Insurance Company Limited for providing the opportunities for obtained the information of overall business of Insurance. Besides these helps us for different assistance like library facilities, answering the questionnaires, annual report and others.
We would like to admit our cordial gratitude to our honorable Teacher Tazrina Floora, the senior lecturer of BBA, Stamford University Bangladesh for guiding us from start to end in preparing this report. The final accomplishment of this work would not have been possible without her immense assistance and care.
Last of all we would like to acknowledge the Department of Business Administration, Stamford University for providing different facilities like Library and others. Stamford University helps for acquiring the practical knowledge in the field which we have study theoriticals in course.
In essence, we would like to say that project and thesis program on overall insurance practice of Peoples Insurance Company Limited helped us largely in acquiring useful insights about highly utilizing our academic knowledge in terms of practical orientation. Moreover, as our project was of very much practical and early effectual in nature, the assistance from all our guides made us able to apply easily the concepts and tools into practical field. Our efforts as well as those of our supervisors will be fruitful if this work is brought into effect.
Acronyms
PICL = Peoples Insurance Company Limited
BIA = Bangladesh Insurance Academy
Executive Summary
Peoples Insurance Company Limited is one of the leading insurance organizations of Bangladesh. It is a General Insurance company. Insurance is a form of contract or agreement under which one party agrees in return for a consideration to pay an agreed amount of money to another party to make good a loss, damage or injury to something of value in which the insured has a pecuniary( it means economic) interest as a result of some uncertain event. It is a device by which loss is likely to be caused by an uncertain event is spread over a number of persons who are exposed to it and who propose to insure themselves against such an event. That’s why there is very demand of the insurance all over the world. There are many social and economic values of insurance, but perhaps the greatest value lies in the many benefits flowing from the risk in Society.
Peoples Insurance Company Limited (PICL) is a first private insurance company in Bangladesh. PICL was established in 1985. Date of Incorporation and Obtained Certificate for Commen- cement of Business is 31 March 1985. PICL is a reliable insurance company in the insurance landscape in Bangladesh. There are different insurance policies of PICL and those are Fire Insurance, Industrial "All Risks" Insurance, Marine Cargo Insurance, Marine Hull Insurance, Motor Insurance, Contractor's "All Risks" Insurance, Erection"All Risks" Insurance, Machinery Breakdown Insurance, Deterioration of Stock Insurance, Boiler & Pressure Vessel Insurance, Burglary & Housebreaking Insurance, Cash-in-transit Insurance, Cash-in-safe Insurance, Cash-on-counter Insurance, Public Liability Insurance, Personal Accident Insurance, Peoples's Personal Accident Insurance, Workmen's Compensation Insurance, Goods-in-transit Insurance, Comprehensive Travel Insurance, Over-seas Medi-claim Insurance, "All Risks" Insurance, Fidelity Guarantee Insurance, Bank Lockers Insurance. Those Policies are available in Peoples insurance company Limited. Besides different new policies will be launch soon.
Insurance company is providing economic security to the clients as well as creating long term capital in the market.This is a very important factor for the socio economic development of Bangladesh. Peoples Insurance Company was established with a vision that is to reach at zenith point of providing quality service and hence achieving highest corporate goal and customer satisfaction. Our slogan is “manush manusher Janna”.
TABLE OF CONTENT
Chapter # 01
1.1 Introduction
1.2 Background of the Study
1.3 Objective of the study
1.4 Scope of the study
1.5 Methodology
1.6 Limitation of the Assignment
Chapter # 02
2.1 Industry Overview
2.2 Our Organization
2.3 Organizational History
2.4 Background, Vision and Mission
Chapter # 03
3.1 All Product Details
Chapter # 04
4.1 Performance Analysis
4.1.1 Balance Sheet
4.1.2 Five years Line Chart
4.2 SWOT Analysis
Chapter # 05
5.1 Recommendation
5.2 Conclusion
5.3 Bibliography
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