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INTRODUCTION
A general term insurance
[1]
HYPOTHESIS:
People are much more aware about the aspects of life
insurance.
And have knowledge about the role and act of agent.
Mostly people prefer to work with LIC because it is a semi
government corporation.
Research Methodology:
Research Methodology is the investigation of specific problem
in detail. At first problem is defined carefully for conducting
research. There should be a good research plan for conducting
research. No research can be done without data collection.
After all this analyze is made for getting solution for problem.
Defining the problem
Defining the sampling plan
Collection of data
Analyze and interpretation
Methodology for collecting data with reference to the
secondary
data
was
taken
from
different
books,
[2]
INDUSTRY PROFILE
WHAT IS INSURANCE
The business of insurance is related to the protection of the
ECONOMIC VALUES OF ASSETS. Every asset has a value. The
asset would have been created through the efforts of the
owner. The asset would have been created through the efforts
of the owner. The asset is valuable to the owner, because he
expects to get some benefits form it. It is a benefit because it
meets some of his needs. The benefit may be an income or in
some other form. In the case of a factory or a cow, the product
generated by it is sold and income is generated. In the case of
a
motor
car,
it
provides
comfort
and
convenience
in
HISTORY OF INSURANCE
Insurance has been known to exist in some form or other
since 3000 BC. The Chinese traders, traveling treacherous
river rapids would distribute their goods among several
vessels, so that the loss from any one vessel being lost,
would be partial and shared, and not total. The Babylonian
traders would agree to pay additional sums to lenders, as
the price for writing off the loans, in case of the shipment
being stolen. The inhabitants of Rhodes adopted the
principle of general average of general average, whereby,
if goods are shipped together, the owners would bear the
losses in proportion, if loss occurs, due to jettisoning
during distress. {Captains of ships caught in storms,
would throw away some of the cargo to reduce the weight
and restore balance. Such throwing away is called
jettisoning} The Greeks had started benevolent societies
in the late 7 th century AD, to take care of the funeral and
families of members who died.
insurance
began
in
1818
with
life
insurance
being
2.
[6]
groups.
These
savings
are
channeled
into
of
capital
in
business
enterprises
and
[8]
CORPORATE PROFILE
[9]
spanning
mobile,
fixed
line,
broadband
and
list
2007.
Bharti
Teletech
is
the
countrys
largest
world
leader
in
financial
protection
and
wealth
to
Euro
5,140
million.
one
of
Indias
leading
Mumbai,
Delhi,
Ahmadabad,
and
Hyderabad,
in
all
transparency,
aspects
structured
of
business,
customer
the
company
support
and
offers
trained
BHARTI ENTERPRISES
BHARTI
TELETECH
TELETECH
SERVICES
BHARTI
TELECOM
BHARTI
FOOD
BHARTI
BHARTI
TELESOFT
BHARTI
TELEVENTURE
Key features:
[13]
Using
multi-distribution,
multi
product
platform
techniques.
Adapting AXA's best practices as a sound platform for
profitable growth.
Leveraging Bharti's local knowledge, infrastructure and
customer base.
Delivering high levels of shareholder return.
Building long term value with business partners by
enhancing the proposition to their customers.
Retaining the best talent in India.
[14]
Professionalism
Team Spirit
Innovation
Values
Integrity
Pragmatism
[15]
Number of cities
- 111
Number of offices
- 163
Number of Agents
- 30,000 PLUS
.
To achieve a top 5 market position in India through a
multi-distribution, multi-product platform
[16]
Promoter's Strength:
flagship
telecom
brand
'Airtel',
has
over
60
million
Fortune
Global
15
companies
having
120,000
offer
good
financial
rewards
and
recognition,
[18]
RANK
1Yr.
RANK
2Yr.
RANK
8.92%
57.48%
3.31%
8.96%
57.62%
3.46%
BhartiAXA
Grow
Money
BhartiAXA
Pension
Grow
Money
The equity fund performance for all periods for the above funds
is within the top six in the industry.
*Published data- Inconversation Newsletter
Bharti-AXA offers a range of innovative products to cater to the
insurance and wealth management needs of our customers.
[19]
the
inception
systematically
increase
your
[20]
your
investment
the
special
treatment
that
it
deserves.
"Be confident of providing your investments the right mix of
growth, flexibility and loyalty benefits. Live confident with
WealthConfident."
Key Benefits:
[21]
Pay premium for five years, while your policy continues for
ten years.
Higher allocation of your premium up to 88% for
investment.
Special additions of units added every year from 6th Year
for incremental wealth creation.
Choose from four different investment funds to meet your
financial objectives.
Five times the life cover of your annual premium.
Tax benefit under 80C and 10(10D).
Bharti AXA Life Secure Confident:A Long Term Life Insurance.
All of us desire to maximise the happiness for our family at all
times, irrespective of the circumstances. The thought of
unfortunate events befalling us may cause us anxiety about
providing a secured happiness to our loved ones.
Key Benefits:
Term Assurance for 5,10,15,20,25 years.
Financial protection against unfortunate event of death at
an affordable cost.
Comprehensive overall protection with help of riders.
[22]
[23]
You will receive tax benefits under Section 80D for all
premiums paid towards health insurance benefits and under
Section 80C for premiums paid towards life insurance benefits
(as applicable) of the Income Tax Act, 1961.
Parameter
Eligibility
[25]
18 Years
50 Years
65 Years
Illnesses is covered
[26]
Parameter
Eligibility
18 Years
60 Years
70 Years For 10 Year Term
INDIVIDUAL PLANS:
PROTECTION:
Bharti-AXA Life ELITE Secure
Bharti-AXA Life Secure Confident
Bharti-AXA Life Family Income Secure
WEALTH CREATION WITH PROTECTION:
CHILD PLANS:
1. Bharti-AXA Life Bright Stars Edge
2. Bharti-AXA Life Future Champs
GURANTEED PLANS:
1. Bharti-AXA Life Save Confident
[27]
GROUP PLANS:
LIFE INSURANCE:
Bharti-AXA Life Shield
Bharti-AXA Life Sanjeevani
CREDIT PROTECTION:
Bharti-AXA Life Credit Secure
Bharti-AXA Life Mortgage Credit Shield
Bharti-AXA Life Credit shield
Bharti-AXA Life Premier Protect Home Shield
HEALTH:
Bharti-AXA Life Swasthya Sanjeevani
[28]
INVESTMENT PHILOSOPHY
Our investment philosophy is carved out from stringent and
robust investment policies. Risk management is an integral part
of our investment processes. The company has well-defined
risk policies and process covering both portfolio and process
risks. Our equity investments are currently made primarily in
large cap stocks (>85%), as large cap stocks are less volatile
than mid cap or small cap stocks.
The debt portfolio of the company is currently invested only in
highest credit quality assets i.e. Government of India securities
and securities issued by AAA rated companies. A reasonable
level of liquidity is maintained with the respective funds so as
to
enable
smooth
redemption
[29]
processes
on
account
of
ORGANIZATION STRUCTURE
Works through many channels marketing, human resource,
finance, information technology,
Marketing wing is divided into 1) DIRECT SALES FORCE Have two tired salaried adviser
force to target the large and diverse Bharti Airtel customer
base.
3)
BANK
ASSURANCE-
planes
for
developing
strategic
[30]
SWOT ANALYSIS
Strength:
Excellent services.
Customized of product as per customer needs.
Brand image.
Business experience.
Strong financial base.
Innovative product technology, organization culture and
environment.
Weakness:
Target only bigger income group where other companies are trying
to catch middle lower level people.
[31]
Opportunity:
In the pension field where people want good life after their
retirement.
Indian people are more emotional towards their children that are
why children plan are selling like hot cakes.
Of the tax liabilities of the service rises the customers will have little
money to invest.
And change rules day by day more rigid which is very difficult for
the company.
[32]
Name: -
Address:-
Location:Mobile no.
Shop Type: - (Mobile stores, General store, Chemist etc.
Please specify
Script
Bharti has expanded into new territories of business and
they now offer the best in class insurance products. This new
venture is named Bharti-AXA.
Mr. Sunil Bharti Mittal is introducing insurance to Punjab and
Chandigarh retailers and would like to give you an opportunity
to earn and setup a new income which can give you 15-20%
margin on an average.
In this business you only have to contact your known people or
regular customers and their references to introduce Bhartis
product and get an appointment.
[33]
Post this, manager form Bharti-AXA will go, explain the product
& close he sale for you. You will in turn receive 15-20 % margin
on sale. E.g. if a policy is sold by Bharti-AXA manager for
10,000 you will receive 2,000.
We are here to understand your interest in this proposal
specially designed by Mr. Sunil Bharti Mittal for Mumbai.
Yes
No
2000%; 20%
yes
no
8000%; 80%
[34]
hr
1-2 hrs
3-h hrs
5 hrs or more
25%
half hour
1/2 to 2
2 to 4
4 to 5
75%
[35]
3)
No
2000%; 20%
no
yes
8000%; 80%
[36]
No
600%; 15%
yes
no
3rd Qtr
4th Qtr
3400%; 85%
1700%; 17%
LIC
HDFC5000%;
50% ICICI
3300%; 33%
[38]
to
product
and
NO
[39]
how
can
400%; 10%
Yes
no
3600%; 90%
QUESTIONNAIRE
[40]
2. How much time can you dedicate per day for this activity?
(For getting Appointments)
hr
1-2 hrs
3-h hrs
5 hrs or more
3. Do
you
have
any
knowledge
Insurance?
Knowledge
Yes
No
Experience
[41]
of
or
experience
in
Yes
No
If yes, then please specify the name of the company.
4.
Yes
No
5.
LIMITATION
[42]
[43]
FINDING
Why people are not ready to work with private players in
life insurance?
Or
Why people are not ready to work as an agent in any
company?
Most of people say that this job affects upon their social
relation with other and also effect upon their business.
[44]
[45]
CONCLUSION
In India, there is throat cut competition in the market of life
insurance that brand service which adopt new strategies for
sales. I concluding the whole story it can be said that people
are much more aware about the aspects of life insurance and
also have knowledge about the role and act of agent but mostly
people unwilling to work as life insurance agent and mostly
people prefer to work with LIC because it is a semi government
corporation.
Some people who has low income they were not interested in
life insurance but when I told them about different different
plan so they were quite interested in it. I hope they will
definitely change their mind & will be aware of benefits of life
insurance.
[46]
SUGGESTIONS
Bharti-AXA
life
insurance
company
must
give
more
with
reputed
companies,
through
proper
[47]
[48]
BIBLIOGRAPHY
IC-33 Life Insurance, Shri S.J Gidwani Publishers, Mumbai
www.irdaindia.org
www.bhart-axalife.com
www.wikipedia.org
www.ibef.org
[49]