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A PROJECT REPORT ON

MARKETING STRATEGY OF BAJAJ AUTO Submitted in Partial Fulfillment for the award Of Bachelor of Business Administration (Affiliated to CCS University, Meerut)

Submitted To: Miss Abhilasha Vihan Faculty, BBA

Submitted By: VAIBHAV RATHI 9673538

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DECLARATION

I Vaibhav

Rathi

hereby declare that the research work presented in this project report entitled

MARKETING STRATEGY OF BAJAJ AUTO for fulfillment of the award of Bachelor of Business Administration from Chodhary Charan Singh University, Meerut is based on my work. The project embodies the result of original work and studies carried out by me and the contents of the project do not form the bases for the award of any other degree to me or anybody else.

Date :

Vaibhav Rathi

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ACKNOWLEDGEMENT

.First of all I would like to thank the Management at Bajaj for giving me the opportunity to do my one-month project training in their esteemed organization. I am highly obliged to Mr. D.K SHARMA for granting me to undertake my training at Meerut branch. I express my thanks to all Sales Managers under whose able guidance and direction, I was able to give shape to my training. Their constant review and excellent suggestions throughout the project are highly commendable. And I would also like to thanks my teacher all Faculty of BBA providing their full support & guidelines under my training period for

My heartfelt thanks go to all the executives who helped me gain knowledge about the actual working and the processes involved in various departments.

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EXECUTIVE SUMMERY India is the largest democracy in the world having a population more than one billion. It is 5th largest in the world in terms of purchasing power parity (PPP). India GDP growth rate is over 6 percent per year on average for the last decade and saving rate is around 26 percent of GDP. With largest number of life insurance policies in force in the world, Insurance happens to be a mega opportunity in India. Its a business growing at the rate of 15-20 per cent annually and presently is of the order of Rs 450 billion. Together with banking services, it adds about 7 per cent to the countrys GDP. Gross premium collection is nearly 2 per cent of GDP and funds available with LIC for investments are 8 per cent of GDP. Yet, nearly 80 per cent of Indian populations are without life insurance cover, health insurance and non-life insurance continue to be below international standards. And this part of the population is also subject to weak social security and pension systems with hardly any old age income security. This itself is an indicator that growth potential for the insurance sector is immense. A well-developed and evolved insurance sector is needed for economic development as it provides long term funds for infrastructure development and at the same time strengthens the risk taking ability. It is estimated that over the next ten years India would require investments of the order of one trillion US dollar. The Insurance sector, to some extent, can enable investments in infrastructure development to sustain economic growth of the country. With a large capital outlay and long gestation periods, infrastructure projects are fraught with a multitude of risks throughout the development, construction and operation stages. These include risks associated with project implementation, including geological risks,
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maintenance, commercial and political risks. Without covering these risks the financial institutions are not willing to commit funds to the sector, especially because the financing of most private projects is on a limited or non- recourse basis. Insurance companies not only provide risk cover to infrastructure projects, they also contribute long-term funds. In fact, insurance companies are an ideal source of long term debt and equity for infrastructure projects. With long term liability, they get a good assetliability match by investing their funds in such projects. IRDA regulations require insurance companies to invest not less than 15 percent of their funds in infrastructure and social sectors. International Insurance companies also invest their funds in such projects. Insurance is a federal subject in India. There are two legislations that govern the sectorThe Insurance Act- 1938 and the IRDA Act- 1999.

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ACKNOWLEDGEMENT
The satisfaction and euphoria that accompany the completion of any task would be but incomplete without the mention of people who made it possible, guidance and encouragement crowned my efforts with success I consider it a privilege to express my gratitude and respect to all those who guided me in the completion of the project I feel gratitude to Ms. Megha Garg, IIMS , Meerut their generosity kindness to help me to preserve with this study I would like to thank Mr. Hemant Kumar (HR Manager) for giving me the opportunity to under go the summer training in BAJAJ ALLIANZ . Finally I would like to thank the entire staff of BAJAJ ALLIANZ HR Department for giving the relevant information and cooperative behaviour during my training period. whose constant

MEHNAZ CHAUHAN

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Table of Contents
Certificate Declaration Executive Summary Acknowledgement Chapter- 1 Introduction Chapter -2 Company profile Chapter -3 3.1 3.2 Chapter-4 Chapter-5 5.1 5.2 5.3 Chapter-6 Chapter-7 7.1 7.2 7.3 08. 09. Findings Conclusion Recommendations & Suggestions Objectives of the project Importance and scope of the project Literature Review Research Methodology Research Design Data Collection Limitations Data analysis and interpretation

Appendices Bibliography

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CHAPTER 1 INTRODUCTION
In todays competitive world insurance is the most growing and developing sector with more and more private companies entering the insurance sector which are making a hub for investors as insurance sector has the maximum growth as compared to any other fields. This growth potential attracted me to enter into this sector and BAJAJ ALLIANZ LIFE INSURANCE has given and opportunity to work and get to know the working of this sector and growth prospects of agents as a advisors and their earning patterns as well as what are the problems which an advisor faces and what are the reasons for not receiving the commission on time in addition how their query gets resolved in BAJAJ ALLIANZ. An Advisor is the main and elementary level in the field of insurance that comes in contact with both investors and a company or they can be said as a mediator between insurers and insured and he is the one who brings business and the only one who helps customers to choose the right plan for his investment. As they add so much value to the insurance business services and brings benefits to the employers they get in return is the commission so the main motive behind the study is to see how advisors get differently paid for different plans sold and how the commission is prepared at head office and its disbursement process as well as to see what are the problems and queries they raise for not receiving the commission due to them and to see various other reasons for problems in commission disbursement. This study is one of its kind which looks at the insights of the working of the BAJAJ ALLIANZ in making commissions of its advisors agents and to look at their full process starting from making commission for advisors to its disbursement and query resolution about the commission. The scope of such study is to see working of insurance company

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and how insurance company benefit and perks they give their advisors in return of the business and services brought in by them to the company for their various plans. To look for details and to collect data for my project I worked in Kanpur Branch Office to gather full information about the system and working of whole UP region and found out the facts about various processes adopted by Bajaj Allianz to pay its advisors and the time period taken for this study are 2 months.

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CHAPTER 2 PROFILE OF THE COMPANY

COMPANY NAME: BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED

HEAD OFFICE:

GE PLAZA, AIRPORT ROAD YERAWADA, PUNE (MAHARASHTRA) Tel(+91 20)66026777

BRANCH OFFICE: BAJAJ ALLIANZ LIFE INSURANCE 133 University Road Meerut

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Introduction of the company


Bajaj Allianz Life Insurance Co. is a union between Allianz SE one of the worlds largest life insurance Co. and Bajaj Auto one of the biggest 2 & 3 wheeler manufactures in the world Allianz SE is a leading Insurance conglomerate globally and one of the largest asset managers in the world. Managing asset , worth over a trillion Euros(over Rs.55,00,000 crors ). Allianz SE has over 115 years of financial experience in over 70 countries. Bajaj Auto is one of the most trusted manufacturer INDIAN AUTO for ever 55 years. At Bajaj Allianz customer delight is over guiding principle ensuring world class solution by offering customized products with transparent benefit, supported by best technology i.s over business philosophy.

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Vision & Mission

Vision Empowering everyone live their dreams. Mission Create unmatched value for everyone through dependable, effective, transparent and profitable life insurance and pension plans. (jaise jarurat vaisa insurance)

Our Goal
Bajaj Allianz Life Insurance would strive hard to achieve the 3 goals mentioned below: Emerge as transnational Life Insurer of global scale and standard Create best value for Customers, Shareholders and all Stake holders Achieve impeccable reputation and credentials through best business practices

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. Current performance of company

COMPETITORS

Competitors in the country Private Reliance Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance Co. Limited ICICI Prudential Life Insurance Co. Limited ING Vysya Life Insurance Company Limited Max New York Life Insurance Co. Limited MetLife Insurance Company Limited Om Kotak Mahindra Life Insurance Co. Ltd. SBI Life Insurance Company Limited TATA AIG Life Insurance Company Limited

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AMP Sanmar Assurance Company Limited Dabur CGU Life Insurance Co. Pvt. Limited

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Market Share Of Companies

MARKET SHARE

OTHERS 17%

BAJAJ ALLIANZ 23%

LIC 60%

LIC

BAJAJ ALLIANZ

OTHERS

SSSSSSSSDASDFSADFDGDSDGDFDGDXFDGDFSHSFASG

SOURCE:- Based on Market Survey (Sample size 100)

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Trade policies of Bajaj Allianz life insurance


To satisfy its customers need To be best in the market To provide benefits which others are not providing To satisfy the work force of the company. Different plans which company is providing to its customers. Bajaj Allianz Life Insurance is here with Solutions for Individuals, a series of plans that will help you make wise investments, protect your family, secure your childs future and even chalk out a plan for your retirement.

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PRODUCT ANALYSIS AND ATTRACTIVE FEATURES OF THE COMPANY

Bajaj Allianz life insurance industry is one of the leading brand names in the market as well as in the insurance sector. Bajaj Allianz life insurance offers you products that fulfill your savings and protection needs. The aim of Bajaj Allianz life insurance is to emerge as a transnational Life Insurer of global scale and standard. There are many attractive features of the company which can be easily estimated by the attractive product plans, by different policies, which the company has adopted, by the salary packages they are offering to the employees and many more things. 1) Products plans-: Life is unpredictable, but in face of adversity, our responsibilities towards our parents, children and loved ones need not to be compromised. Insurance planning equips we to smooth out the uncertainties and adversities that life might send our way, so that the best that life has to offer, secure in the knowledge that our beloved ones are well provided for.
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Reliance Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products can be enhanced with up to riders to create a customized solution for each policyholder. These Products are divided into two parts basically:

Traditional Plan
ULIP (Unit Linked Insurance Plan)

ULIP
(Unit linked Insurance Plan)
st

Unit linked guidelines were notified by IRDA on 21 December 2005. The main intent of the guidelines was to ensure that they lead to greater transparency and understanding of these products among the insured, especially since the investment risk is borne by the policyholder. It is the endeavor of IRDA to enable the buyer to make the most informed decision possible when planning for financial security. ULIP is an abbreviation for Unit Linked Insurance Policy. A ULIP is a life insurance policy which provides a combination of risk cover and investment. The dynamics of the capital market have a direct bearing on the performance of the ULIPs. In a unit linked policy, the investment risk is generally borne by the investor. The allocated (invested) portions of the premiums after deducting for all the charges and premium for risk cover under all policies in a particular fund as chosen by the policy holders are pooled together to form a Unit fund. Unit is a component of the Fund in a Unit Linked Policy.

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Funds of ULIP

General Descriptions

Nature of Investment Primarily invested in company stock with the general aim of capital appreciation

Risk Category

Equity Funds

Medium to high

Income, Fixed Interest Rates And Bond Funds

Invested in corporate bonds, government securities and other fixed income instrument

Medium

Cash Funds

Sometimes known as money market fundsinvested in cash, bank deposits and money market instrument

Low

Balanced Funds

Combining equity investment with fixed interest instrument

High

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Charges, fees and deductions in a ULIP

ULIPs offered by different insurers have varying charge structures. Broadly, the different types of fees and charges are given below. However, it may be noted that insurers have the right to revise fees and charges over a period. Premium Allocation Charges

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This is a percentage of the premium appropriated towards charges before allocating the units under the policy. This charge normally includes initial and renewal expenses apart from commission expenses. Mortality Charges These are charges to provide for the cost of insurance coverage under the plan. Mortality charges depend on number of factors such as age, amount of coverage, state of health etc Fund Management Fees These are fees levied for management of the funds and are deducted before arriving at the Net Asset Value (NAV). Policy/ Administration Charges These are the fees for administration of the plan and levied by cancellation of units. This could be flat throughout the policy term or vary at a pre-determined rate.

Surrender Charges A surrender charge may be deducted for premature partial or full encashment of units wherever applicable, as mentioned in the policy conditions. Fund Switching Charge Generally a limited number of fund switches may be allowed each year without charge, with subsequent switches, subject to a charge. Service Tax Deductions
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Before allotment of the units the applicable service tax is deducted from the risk portion of the premium. Investors may note, that the portion of the premium after deducting for all charges and premium for risk cover is utilized for purchasing units. Net Asset Value (NAV) NAV is the value of each unit of the fund on a given day. The NAV of each fund is displayed on the website of the respective insurers.

SWITCH

SWITCH option provides for shifting the investments in a policy from one fund to another provided the feature is available in the product. While a specified number of switches are generally effected free of cost, a fee is charged for switches made beyond the specified number.

What happens if payment of premiums is discontinued? a) Discontinuance within three years of commencement If all the
premiums have not been paid for at least three consecutive years from inception, the insurance cover shall cease immediately. Insurers may give an opportunity for revival within the period allowed; if the policy is not revived within that period, surrender value

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shall be paid at the end of third policy anniversary or at the end of the period allowed for revival, whichever is later.

b) Discontinuance after three years of commencement


At the end of the period allowed for revival, the contract shall be terminated by paying the surrender value. The insurer may offer to continue the insurance cover, if so opted for by the policy holder, levying appropriate charges until the fund value is not less than one full years premium. When the fund value reaches an amount equivalent to one full years premium, the contract shall be terminated by paying the fund value.

There are number of products in which Bajaj Allianz deals. These products are based on customers need & requirements. The term & conditions of the products are very easy so that customer can understand the meaning of it very easily. These products are enumerated below:-

Unit Linked
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Regular Premium
New Unit Gain New Unit Gain +Gold

Single Premium
New Unit Gain + SP New Unit Gain Premier SP Century Plus

Pension Annuity
Pension Guarantee

Retirement
Future Income Generator Swarn Vishranti

Traditional Endowment
Life Time Care Super Saver

Money Back
Cash Gain

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Term Plan
New Risk Care Term Care

Women Care
Working Women House Wives

Health
Health Care Care First Family Care First

Children Plan
Child Gain

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Bajaj Allianz Endowment Plan


It takes a lot for a dream to become a reality, and money is surely an important part of it. Reliance Endowment Plan gives you just the financial independence to realize your dreams in the future. It lets you decide how much you would like to set as your Sum Assured based on your current financial position and your expected future expenses.

Key FeaturesOn maturity receive Sum Assured plus bonus Wealth creation through bonus additions More value for investors money by way of high Sum Assured rebate Increase investors insurance protection by adding term cover Choose to pay regular or single premium Choose to add the benefit of two Riders Critical Illness Rider and Accidental Death Benefit and Total and Permanent Disablement Rider Choose to avail of a Policy Loan after three full years of premium payment

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SWOT ANALYSIS

STRENGTH OF THE COMPANY 1. Technological


2. Economical

WEAKNESS OF THE COMPANY


1. Did not cover rural areas.

OPPORTUNITIES OF THE COMPANY


1. There are opportunities to launch various policies which are relevant to rural as well as urban areas all over India. 2. Company can earn more profit from various policies.

THREATS OF THE COMPANY


1. 2. Existing competitors. New coming entraints.

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CHAPTER 3 3.1 OBJECTIVES OF THE STUDY

1. To Analysis the insurance products of Bajaj Allianz

2. To Analysis the products that they meet with customers requirements or not.

3. To Customer Perception regarding Bajaj Allianz Products

4. To Study Present Status of Bajaj Allianz Products

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CHAPTER 4 LITERATURE REVIEW


Life insurance (Life Assurance in British English) is a type of insurance. As in all insurance, the insured transfers a risk to the insurer. The insured pays a premium and receives a policy in exchange. The risk assumed by the insurer is the risk of death of the insured. How life insurance works There are three parties in a life insurance transaction; the insurer, the insured, and the owner of the policy (policyholder), although the owner and the insured are often the same person. For example, if John Smith buys a policy on his own life, he is both the owner and the insured. But if Mary Smith, his wife, buys a policy on John's life, she is the owner and he is the insured. The owner of the policy is called the grantee (he or she will be the person who will pay for the policy). Another important person involved is the beneficiary. The beneficiary is the person or persons who will receive the policy proceeds upon the death of the insured. The beneficiary is not a party to the policy, but is designated by the owner, who may change the beneficiary unless the policy has an irrevocable beneficiary designation. With an irrevocable beneficiary, that beneficiary must agree to changes in beneficiary, policy assignment, or borrowing of cash value. The policy, like all insurance policies, is a legal contract specifying the terms and conditions of the risk assumed. Special provisions apply, including a suicide clause wherein the policy becomes null if the insured commits suicide within a specified time for the policy date (usually two years). Any misrepresentation by the owner or insured on the application is also grounds for nullification. Most contracts have a contestability period,

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also usually a two-year period; if the insured dies within this period, the insurer has a legal right to contest the claim and request additional information before deciding to pay or deny the claim. The face amount of the policy is normally the amount paid when the policy matures, although policies can provide for greater or lesser amounts. The policy matures when the insured dies or reaches a specified age. The most common reason to buy a life insurance policy is to protect the financial interests of the owner of the policy in the event of the insured's demise. The insurance proceeds would pay for funeral and other death costs or be invested to provide income replacing the deceased's wages. Other reasons include estate planning and retirement. The owner (if not the insured) must have an insurable interest in the insured, i.e. a legitimate reason for insuring another persons life. The insurer (the life insurance company) calculates the policy prices with an intent to recover claims to be paid and administrative costs, and to make a profit. The cost of insurance is determined using mortality tables calculated by actuaries. Actuaries are professionals who use actuarial science which is based in mathematics (primarily probability and statistics). Mortality tables are statistically based tables showing average life expectancies. The three main variables in a mortality table are age, gender, and use of tobacco. The mortality tables provide a baseline for the cost of insurance. In practice, these mortality tables are used in conjunction with the health and family history of the individual applying for a policy in order to determine premiums and insurability. The current mortality table being used by life insurance companies in the United States and their regulators was calculated during the 1980s. There is currently a measure being pushed to update the mortality tables by 2008.

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The current mortality table assumes that roughly 2 in 1,000 people aged 25 will die during the term of coverage. This number rises roughly quadratic ally to about 25 in 1,000 people for those aged 65. So in a group of one thousand 25 year old males with a $100,000 policy, a life insurance company would have to, at the minimum, collect $200 a year from each of the thousand people to cover the expected claims. The insurance company receives the premiums from the policy owner and invests them to create a pool of money from which to pay claims, and finance the insurance company's operations. Contrary to popular belief, the majority of the money that insurance companies make comes directly from premiums paid, as money gained through investment of premiums will never, in even the most ideal market conditions, vest enough money per year to pay out claims. Rates charged for life insurance increase with the insured's age because, statistically, a people are more likely to die as they get older. Since adverse selection can have a negative impact on the financial results of the insurer, the insurer investigates each proposed insured (unless the policy is below a companyestablished minimum amount) beginning with the application, which becomes part of the policy. Group Insurance policies are an exception. This investigation and resulting evaluation of the risk is called underwriting. Health and lifestyle questions are asked, and the answers are dutifully recorded. Certain responses by the insured will be given further investigation. Life insurance companies in the United States support The Medical Information Bureau, which is a clearinghouse of medical information on all persons who have ever applied for life insurance. As part of the application, the insurer receives permission to obtain information from the proposed insured's physicians. Life insurance companies are never required by law to underwrite or to provide coverage on anyone. They alone determine insurability, and some people, for their own health or lifestyle reasons, are uninsurable. The policy can be declined (turned down) or rated. Rating
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means increasing the premiums to provide for additional risks relative to that particular insured. Many companies use four general health categories for those evaluated for a life insurance policy. These categories are Preferred Best, Preferred, Standard, and Tobacco. Preferred Best means that the proposed insured has no adverse medical history, is not under medication for any condition, and his family (immediate and extended) have no history of early cancer, diabetes, or other conditions. Preferred is like Preferred Best, but it allows that the proposed insured is currently under medication for the condition and may have some family history. Most people are in the Standard category. Profession, travel, and lifestyle also factor into not only which category the proposed insured falls, but also whether the proposed insured will be denied a policy. For example, a person who would otherwise be in the Preferred Best category will be denied a policy if he or she travels to a high risk country. Upon the death of the insured, the insurer will require acceptable proof of death before paying the claim. The normal minimum proof is a death certificate and the insurer's claim form completed, signed, and often notarized. If the insured's death was suspicious and the policy amount warrants it, the insurer may investigate the circumstances surrounding the death, before deciding whether there is a legal obligation to pay the claim. Proceeds from the policy may be paid in a lump sum or as an annuity paid over time in regular recurring payments for either for the life of a specified person or a specified time period.

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BRIEF HISTORY OF THE INSURANCE SECTOR

What is Insurance? Insurance is a contract between two parties whereby one party called insurer undertakes in exchange for a fixed sum called premiums, to pay the other party happening of a certain event. Insurance is a protection against a financial loss arising on the happening of an unexpected event. Insurance Companies collect premium to provide for this protection. A loss is paid out of this premium collected from the insuring public. The insurance Company act as a trustee to the amount collected through premium. Insurance is generally classified in three main categories, (i) Life Insurance, (ii) Health insurance and (iii) General Insurance To get insurance an individual or an organisation can approach to an insurance Company directly, through Insurance Agent of the concerned company or through Intermediaries.

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Benefits of Insurance 1. Safeguards oneself and one's family for future requirements 2. Peace of mind-in case of financial loss. 3. Encourage saving. 4. Tax rebate. 5. Protection from the claim made by creditors. 6. Security against a personal loan, housing loan or other types of loan. 7. Provide a protection cover to industries, agriculture, women and child

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Reasons for buying insurance Insurance Buys Time and Money People like to refer to insurance as time insurance, the reason being that insurance proceeds are paid to the insured's beneficiaries in case of death or on the maturity of the policy. The money proffered by insurance helps buy time to adjust to the change of circumstances. Insurance provides large amounts of cash that will keep the lifestyle for the survivors the way it was before the insured's death. Insurance Offers Peace of Mind For the person who buys an insurance policy, it offers absolute and complete peace of mind. He or she knows that the decision made by him will provide sound benefits in the future, whether or not the individual may live to see it. The life insurance policy will subsequently prove this in the future if and when funds are needed. This is the guarantee of the insurance contract. Multiple Applications The future is uncertain for each and every one. No one knows how long he or she will live. The investment benefit is paid to the insured's beneficiaries after his death or it can be used during the life as well. Life insurance policy owners can turn to the cash value of the policy in case of a financial emergency when all avenues are either blocked or denied. They know that they can avail of loans based on their insurance policies. Insurance policy owners can use the cash value of their policies to meet their long-term financial needs as well. They may have purposefully invested in insurance to use the cash in the policy for their children's future marriage expenses or higher education fees. Enduring Elasticity
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Since life insurance is flexible enough to serve several needs, the insured can keep several long-term goals in mind once he or she invests in the insurance plan. The cash value of the policy can be allocated towards augmenting the monthly income during the retirement years. Leisure years should be turned into pleasure years. Permanent life insurance is designed on the concepts of long-term flexibility. Financial Security The insurance policy offers contractual guarantees to people looking for peace of mind when they buy life insurance. Life insurance offers complete financial security. The purchase of life insurance demonstrates concern for a family's future financial well being. Regard for Family The purchase of life insurance clearly displays care and concern for the people the policy owner loves. Insurance is Safer No financial institution can do what life insurance does. No industry can back its products with reserves and surplus as sound as those of the insurance industry. The proof of strength and safety that insurance companies have ensured even under the most adverse of conditions is a matter of pride for the entire insurance industry. For generation after generation, life insurance has been acclaimed as the very benchmark of security against which the other industries are measured.

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History
The history of life insurance in India dates back to 1818 when it was conceived as a means to provide for English Widows. Interestingly in those days a higher premium was charged for Indian lives than the non-Indian lives as Indian lives were considered more riskier for coverage. The Bombay Mutual Life Insurance Society started its business in 1870. It was the first company to charge same premium for both Indian and non-Indian lives. The Oriental Assurance Company was established in 1880. Insurance regulation formally began in India with the passing of the Life Insurance Companies Act of 1912 and the provident fund Act of 1912. Several frauds during 20's and 30's sullied insurance business in India. By 1938 there were 176 insurance companies. The first comprehensive legislation was introduced with the Insurance Act of 1938 that provided strict State Control over insurance business. The insurance business grew at a faster pace after independence. Indian companies strengthened their hold on this business but despite the growth that was witnessed, insurance remained an urban phenomenon. The Government of India in 1956, brought together over 240 private life insurers and provident societies under one nationalised monopoly corporation and LIC was born. Nationalisation was justified on the grounds that it would create much needed funds for rapid industrialization. This was in conformity with the Government's chosen path of State lead planning and development.

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The first general insurance company- Triton Insurance Company Limited, was established in 1850. Till the end of nineteenth century insurance business was almost entirely in the hands of overseas companies. . In 1957 the General Insurance Council a wing of Insurance Association of India formed a code of conduct. In 1961 an insurance act was passed to form General Insurance Company Ltd. which was amended in 1968. General Insurance business was nationalised with effect from 1.1.73 by the General Insurance Business Act. from 1973, The General Insurance Company (GIC) as a holding company divided in four subsidiaries as: National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and The United Assurance Company Ltd. Insurance sector reforms In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R. N. Malhotra, was formed to evaluate the Indian insurance industry and recommend its future direction. The Malhotra committee was set up with the objective of complementing the reforms initiated in the financial sector. The reforms were aimed at creating a more efficient and competitive financial system suitable for the requirements of the economy keeping in mind the structural changes currently underway and recognising that insurance is an important part of the overall financial system where it was necessary to address the need for similar reforms In 1994, the committee submitted the report and some of the key recommendations included: i) Structure Government stake in the insurance Companies to be brought down to 50%
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Government should take over the holdings of GIC and its subsidiaries so that these subsidiaries can act as independent corporations

All the insurance companies should be given greater freedom to operate

ii) Competition Private Companies with a minimum paid up capital of Rs.1bn should be allowed to enter the industry No Company should deal in both Life and General Insurance through a single entity Foreign companies may be allowed to enter the industry in collaboration with the domestic companies Postal Life Insurance should be allowed to operate in the rural market Only one State Level Life Insurance Company should be allowed to operate in each state iii) Regulatory Body The Insurance Act should be changed An Insurance Regulatory body should be set up Controller of Insurance (Currently a part from the Finance Ministry) should be made independent. iv) Investments Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to 50%

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GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings to be brought down to this level over a period of time)

v) Customer Service LIC should pay interest on delays in payments beyond 30 days Insurance companies must be encouraged to set up unit linked pension plans Computerisation of operations and updating of technology to be carried out in the insurance industry The committee emphasised that in order to improve the customer services and increase the coverage of the insurance industry should be opened up to competition. But at the same time, the committee felt the need to exercise caution as any failure on the part of new players could ruin the public confidence in the industry. Hence, it was decided to allow competition in a limited way by stipulating the minimum capital requirement of Rs.100 crores. The committee felt the need to provide greater autonomy to insurance companies in order to improve their performance and enable them to act as independent companies with economic motives. For this purpose, it had proposed setting up an independent regulatory body.

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The Insurance Regulatory and Development Authority


Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. The IRDA since its incorporation as a statutory body inApril 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies.The other decisions taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies was the launch of the IRDAs online service for issue and renewal of licenses to agents.The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products, which are expected to be introduced by early next year.Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. In the private sector 12 life insurance and 6 general insurance companies have been registered. Present Scenario The Government of India liberalised the insurance sector in March 2000 with the passage of the Insurance Regulatory and Development Authority (IRDA) Bill, lifting all entry restrictions for private players and allowing foreign players to enter the market with some limits on direct foreign ownership. Under the current guidelines, there is a 26 percent equity cap for foreign partners in an insurance company. There is a proposal to increase this limit to 49 percent. Premium rates of most general insurance policies come under the purview of the government appointed Tariff Advisory Commitee. The opening up of the sector is likely to lead to greater spread and deepening of insurance in India and this may also include restructuring and revitalizing of the public sector

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companies. A host of private Insurance companies operating in both life and non-life segments have started selling their insurance policies since 2001.

Non-Life Insurance Market

In December 2000, the GIC subsidiaries were restructured as independent insurance companies. At the same time, GIC was converted into a national re-insurer. In July 2002, Parliamant passed a bill, delinking the four subsidiaries from GIC. Presently there are 12 general insurance companies with 4 public sector companies and 8 private insurers. Although the public sector companies still dominate the general insurance business, the private players are slowly gaining a foothold. According to estimates, private insurance companies have a 10 percent share of the market, up from 4 percent in 2001. In the first half of 2002, the private companies booked premiums worth Rs 6.34 billion. Most of the new entrants reported losses in the first year of their operation in 2001. Insurance costs constitute roughly around 1.2- 2 percent of the total project costs. Under the existing norms, insurance premium payments are treated as part of the fixed costs. Consequently they are treated as pass-through costs for tariff calculations. For Projects costing up to Rs 1 Billion, the Tariff Advisory Committee sets the premium rates, for Projects between Rs 1 billion and Rs 15 billion, the rates are set in keeping with the committee's guidelines; and projects above Rs 15 billion are subjected to re-insurance pricing. It is the last segment that has a number of additional products and competitive pricing. Insurance, like project finance, is extended by a consortium. Normally one insurer takes the lead, shouldering about 40-50 per cent of the risk and receiving a proportionate
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percentage of the premium. The other companies share the remaining risk and premium. The policies are renewed usually on an annual basis through the invitation of bids. Of late, with IPP projects fizzling out, the insurance companies are turning once again to old hands such as NTPC, NHPC and BSES for business. Re-insurance business Insurance companies retain only a part of the risk (less than 10 per cent) assumed by them, which can be safely borne from their own funds. The balance risk is re-insured with other insurers. In effect, therefore, re-insurance is insurer's insurance. It forms the backbone of the insurance business. It helps to provide a better spread of risk in the international market, allows primary insurers to accept risks beyond their capacity, settle accumulated losses arising from catastrophic events and still maintain their financial stability. While GIC's subsidiaries look after general insurance, GIC itself has been the major reinsurer. Currently, all insurance companies have to give 20 per cent of their reinsurance business to GIC. The aim is to ensure that GIC's role as the national reinsurer remains unhindered. However, GIC reinsures the amount further with international companies such as Swissre (Switzerland), Munichre (Germany), and Royale (UK). Reinsurance premiums have seen an exorbitant increase in recent years, following the rise in threat perceptions globally.

Life Insurance Market

The Life Insurance market in India is an underdeveloped market that was only tapped by the state owned LIC till the entry of private insurers. The penetration of life insurance products was 19 percent of the total 400 million of the insurable population.The state
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owned LIC sold insurance as a tax instrument, not as a product giving protection. Most customers were under- insured with no flexibility or transparency in the products. With the entry of the private insurers the rules of the game have changed. The 12 private insurers in the life insurance market have already grabbed nearly 9 percent of the market in terms of premium income. The new business premiums of the 12 private players has tripled to Rs 1000 crore in 2002- 03 over last year. Meanwhile, state owned LIC's new premium business has fallen. Innovative products, smart marketing and aggressive distribution. That's the triple whammy combination that has enabled fledgling private insurance companies to sign up Indian customers faster than anyone ever expected. Indians, who have always seen life insurance as a tax saving device, are now suddenly turning to the private sector and snapping up the new innovative products on offer. The growing popularity of the private insurers shows in other ways. They are coining money in new niches that they have introduced. The state owned companies still dominate segments like endowments and money back policies. But in the annuity or pension products business, the private insurers have already wrested over 33 percent of the market. And in the popular unit-linked insurance schemes they have a virtual monopoly, with over 90 percent of the customers. The private insurers also seem to be scoring big in other ways- they are persuading people to take out bigger policies. For instance, the avaerage size of a life insurance policy before privatisation was around Rs 50,000. That has risen to about Rs 80,000. But the private insurers are ahead in this game and the average size of their policies is around Rs 1.1 lakh to Rs 1.2 lakh- way bigger than the industry average.The business of life

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insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the life insurance business in India are:

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about both life and non-life insurance businesses. 1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British.

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MAJOR POLICY CHANGE


Insurance sector has been opened up for competition from Indian private insurance companies with the enactment of Insurance Regulatory and Development Authority Act, 1999 (IRDA Act). As per the provisions of IRDA Act, 1999, Insurance Regulatory and Development Authority (IRDA) was established on 19th April 2000 to protect the interests of holder of insurance policy and to regulate, promote and ensure orderly growth of the insurance industry. IRDA Act 1999 paved the way for the entry of private players into the insurance market, which was hitherto the exclusive privilege of public sector insurance companies/ corporations. Under the new dispensation, Indian insurance companies in private sector were permitted to operate in India with the following conditions:

Company is formed and registered under the Companies Act, 1956. The aggregate holdings of equity shares by a foreign company, either by itself or through its subsidiary companies or its nominees, do not exceed 26%, paid up equity capital of such Indian insurance company; The company's sole purpose is to carry on life insurance business or general insurance business or reinsurance business. The minimum paid up equity capital for life or general insurance business is Rs.100 crores. The minimum paid up equity capital for carrying on reinsurance business has been prescribed as Rs.200 crores.

The Authority has notified 27 Regulations on various issues, which include Registration of Insurers, Regulation on insurance agents, Solvency Margin, Re-insurance, Obligation of Insurers to Rural and Social sector, Investment and Accounting Procedure, Protection
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of policyholders' interest etc. Applications were invited by the Authority with effect from 15 August 2000 for issue of the Certificate of Registration to both life and non-life insurers. The Authority has its Head Quarter at Hyderabad.

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The Insurance Sector In India


India at a glance
Population: 1 Billion Economy: 5th largest in the world in terms of Purchasing Power Parity. GDP growth Rate: Over 6% per year on an average for the last Savings Rate: Around 26% of GDP Estimated middle class population: 300 Million Insured population: 70 million only decade.

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PRIVATE OR PUBLIC
I Am There Everywhere Insurance in India has been divided into two sectors-: PRIVATE PUBLIC COMPANIES PROVIDING LIFE INSURANCE BENEFITS PUBLIC

Life Insurance Corporation of India

PRIVATE Bajaj Allianz Life Insurance Company Limited Birla Sun-Life Insurance Company Limited HDFC Standard Life Insurance Co. Limited ICICI Prudential Life Insurance Co. Limited ING Vysya Life Insurance Company Limited Max New York Life Insurance Co. Limited MetLife Insurance Company Limited

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Om Kotak Mahindra Life Insurance Co. Ltd. SBI Life Insurance Company Limited TATA AIG Life Insurance Company Limited AMP Sanmar Assurance Company Limited Dabur CGU Life Insurance Co. Pvt. Limited Reliance Life Insurance Company Limited GENERAL INSURERS Public Sector National Insurance Company Limited New India Assurance Company Limited Oriental Insurance Company Limited United India Insurance Company Limited Private Sector Bajaj Allianz General Insurance Co. Limited ICICI Lombard General Insurance Co. Ltd. IFFCO-Tokio General Insurance Co. Ltd. Reliance General Insurance Co. Limited

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Royal Sundaram Alliance Insurance Co. Ltd. TATA AIG General Insurance Co. Limited Cholamandalam General Insurance Co. Ltd. Export Credit Guarantee Corporation

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Life insurance
Life Insurance is a kind of agreement made among the owner of the policy and the insurer, which says that the issuer would pay a sealed amount of money after the death of the policyholder. In return, the policy payer would have to pay a specified amount of money, known as premium regularly. The Life Insurance covers both natural death and accidental death. There are many kinds of Life Insurance Policies in the Market. Some of them are: Temporary Life Insurance: Temporary Life Insurance Policy offers Life Insurance coverage for a limited period of time. Temporary Life Insurance premium buys protection for nothing else but death. Permanent Life Insurance: Permanent Life Insurance is a kind of insurance that stays valid until the policy gains maturity or the policy holder fails to pay the premium within due date. The permanent Life Insurance can be of three types: Whole Life, Universal Life and Endowment. Accidental Death Life Insurance: Accidental Death Life Insurance is a limited policy, which is decorated to cover the Life Insurance policy holder at the time of his death due to some accidents. This also offers protection to those who loose his or her body parts by an accident. For todays fast paced life it is essential to have a Life Insurance Policy for everyone. To know more about Life Insurance one should know the following topics:

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Life Insurance Policies Life Insurance Policies has an important role in ones life. These policies cover losses that arise from the loss of one's life. Find various life insurance policies. Life Insurance Companies Life Insurance Companies renders various life insurance products and ultimately protects from the risk associated to life. Life Insurance Rates Life Insurance Rates can be broadly categorized into Proffered Category, Preferred Plus Category and Standard Category. Get detailed on the life insurance categories. Insurance premium Insurance Premium is the payment made by the policyholder to the insurance company on a regular time span. This payment has to be made by the insured person until the maturity of the insurance. Insurance Premium may vary from company to company along with the coverage limit. Thus, while selecting an insurance policy one should be very careful and should compare all the possible options through online website services. The customers are advised to compare the quotes offered by the different insurance companies and select from the wide variety of options available to them. Insurance brokers play an important role in finding the appropriate insurance for the customer by assessing and titrating the different insurances available in the market. The brokers or agents calculate the premiums on the basis of the requirement particulars of the customer. The lowest

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quote offered by the insurance company is considered to be the most suitable one for the customer. The above mentioned work of insurance premium calculation now-a-days are also done by the specialized websites doing the searching, comparing and calculating the insurance premium on behalf of the customers. The insurance premium generally increases with the increase in the risk perception of the company about that person.

In case of medical insurance or med claim, the cost of premium is more for the smokers than the non-smokers because the insurance company considers that the smoker possesses a greater risk of health hazard than the non-smoker. Hence, the cost of premium is directly proportional to the risk associated. In case of the car insurance, the cost of premium is generally higher than an older one because the insurance company considers that the younger driver is more prone to accident than the latter. In case of Life Insurance, the insurance company considers the aged person to be more prone to death. Hence, it charges a higher premium than from him. However, when it comes to a younger person seeking life insurance, then the premium charged from him is less. The reason behind it is that in normal conditions a younger person stands more chance in living a longer life span.

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INSURANCE COMPANIES

Insurance Company is a financial company or institution, which does the work of selling insurance policies of all types in order to hedge the risk of contingent future losses or damages or hazards.

These possible risks are not certain to take place in the future because future is uncertain. However, a person cannot take a wait-and-see approach because it would subject them to sheer risk. If the casualty, damage, or loss does happen then the person without any insurance would not get any compensation from the insurance company.

If a person buys an insurance against any future risk then in case of actual causation the insurance company would compensate for the resulting financial loss.

Issuance of insurance by an insurance company is not a free affair. Rather the policyholder of insurance is needed to pay a regular payment amount to the insurance company until its maturity. This amount is repaid either in entirety or in part to the insurance holder in case of occurrence of the hazard or casualty or loss. However, it has been observed that much insurance are not claimed due to non-occurrence of the risk and thus the premiums paid by the policy holders become the profit of the insurance company.

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Insurance companies offer insurances on the following categories:Life Insurance Medical Insurance Non-life or General Insurance

Non life or general insurance issuing companies can again be classified under :Standard Insurance Company
This type of insurance companies generally issue insurances against commercial and residential related risks, automobile related risks and the risks associated with businesses. These are mainly standardized policies with minimum scope of customization in accordance with personal needs of the customers. The characteristic features of this type of companies include lower rate of premium and direct sales to the customer approach. Excess Insurance Company This type of insurance company is involved in insuring the risks, which are out of the fold of the Standard Insurance companies. These insurances are given to those persons who are not licensed insurers of the concerned state.

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CHAPTER 5 RESEARCH METHODOLOGY


1. For Financial Advisor acting the objective of the study 2. Designing the methods of data collection 3. Selecting the sample plan 4. Collecting the data 5. Processing and analyzing the data 6. Reporting the findings

Process of research methodology

Objective of Study

Research Design

Sample Design

Data Collection

Data analysis
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Reporting of Findings
RESEARCH DESIGN: Research Design specifies the methods and procedures for conducting a particular study. A Research Design is the arrangement of conditions for collection and analysis of the data in a manner that aims to combine relevance to the research purpose with economy in procedure. Research Design is broadly classified into three types as Exploratory Research Design Descriptive Research Design Hypothesis testing Research Design

On the basis of the objective of study, the studies which are concerned with describing the character tics of a particular individual, or of a group of individual under study comes under Descriptive Research Design. : In this research design the objective of study is clearly defined and has accurate method of measurement with a clear cut definition of population which is to be studied. SAMPLING DESIGN: A Sample Design is a definite plan for obtaining a sample from a given population. It refers to the technique and the procedure adopted in selecting items for the sample. The main constitution of the sampling design is as below1. Sampling Unit
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2. Sample Size 3. Sampling Procedure

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SAMPLING UNIT: A sampling framework i.e. developed for the target population that will be sampled i.e. who is to be surveyed. Customers

SAMPLE SIZE: It is the substantial portion of the target population that are sampled to achieve reliable results. Sample size = 110 respondents (Customer) at Meerut SAMPLING PROCEDURE The procedure to choose the respondents to obtain a representative sample, a nonprobability sampling technique is applied for the target market. Non-Probability Sampling It is a purposive sampling which deliberately chooses the particular units of the universe for constituting a sample on the basis that the small mass that they so select out of a huge one will be typical or representative of the whole. Judgment sampling: To select population members who are good prospects for accurate information?

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5.2 DATA COLLECTION METHOD: Usually company representative gave the data of those persons who are the big fish like CA, CFS, ICWA, MBA, DOCTOR, GM etc. Besides all these I have used my own database which consisted of Professor, high school and college teacher, agents in reputed company like Peerless, Sahara,, New India Assurance Co. etc, Serviceman, retired person from reputed organization etc.

After having all these I used to analyze the profile of those person and go forward to meet them individual. In my case what I had proceed on

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5.3 LIMITATIONS
While learning any thing new there are some limitations and this project is no exception. Limitations while making projects 1. sometime problems were faced while collecting data. 2. as it was the first time experience of learning while working so it takes time to adjust. Limitation of time Time availability was one of the biggest limitations face due to shortage of time we had to limit the work in its present form. Other limitations 1. Since I did not have any previous experience so it may have led to discrepancies in the report. 2. As the environment was very new to me so it takes some time to become friendly

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CHAPTER 6 DAATA ANALYSIS & INTERPRETATION

Are you aware of BAJAJ ALLIANZ and its products? Yes 20 No 80

AWARENESS ABOUT BAJAJ ALLIANJ 90 80 70 60 50 40 30 20 10 0 80

Series1

20

YES

NO

Ans. This graph represents that 20% people are aware about Bajaj Allianz whereas 80% people are not aware of it.

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2. Are you availing any insurance facility from any other insurance co.? Yes [ ] Yes No No [ ] 83 17

AVAILING INSURANCE SERVICES


90 80 70 60 50 40 30 20 10 0 83

Series1

17

YES

NO

Ans. This graph represents that 83% of people are availing insurance services whereas 17% of people are not availing insurance services.

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3. What is the best part in others? Policies Services Maturity period Installment 67 23 2 8

80 70 60 50 40 30 20 10 0

POLICY, 67

Series1

SERVICE , 23 MATURITY, 2

INSTALLMENT ,8

Ans. According to this graph 67% people consider policy, 23% consider service, 2%consider maturity and 8% consider instalment the best.

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4. What you prefer while invest in insurance? Tax saving Investment Risk covers Others 45 20 30 5

50 45 40 35 30 25 20 15 10 5 0

TAX SAVING, 43 RISK COVER , 30 INVESTMENT, 23


Series1

OTHERS, 4

TAX SAVING

INVESTMENT RISK COVER

OTHERS

Ans. This graph represents that 43% of people prefer tax saving, 23% people prefer investment, 30% people prefer risk cover and 4%people prefer others while they invest in insurance.

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5. Which product do you like most in Bajaj Allianz? New unit gain New unit gain gold Century Plus 28 12 60

70 60 50 40 30 20 10 0 NEW UNIT GAIN NUG+ GOLD NEW UNIT GAIN, 28 NUG+ GOLD, 12

CENTURY PLUS, 60

Series1

CENTURY PLUS

Ans. This graph shows that 28% people like new unit gain, 12% people like nug+gold and 60%people like century plus in Bajaj Allianz.

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6. Does the insurance really meet with your requirements? Yes No 85 13

If no, why
100 90 80 70 60 50 40 30 20 10 0 YES NO 13
Series1

87

Ans. This graph shows that insurance really met the reruirements of 87% but it does not met the requirements of 13%.

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7. Which one is favorite investment area for you in long term? Fix deposit Insurance Real Estate Others 35 25 32 8

40 35 30 25 20 15 10 5 0

FIXED DEPOSIT , 35 INSURANCE , 25

REAL ESTATE, 32

Series1

OTHERAS, 8

FIXED DEPOSIT

INSURANCE

REAL ESTATE

OTHERAS

Ans. According to this graph 35% people like fixed deposit, 25% like insurance, 32%like real estate and 8% like ohers as favourite invexstment area for long term.

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8. Where do you see Bajaj Allianz in insurance sector? First Second Third 0 23 47 fourth 18 Fifth 12

%age 50 40 30

47

20

23

18

10 0

12

first

Ans. This graph shows that 0% people ranked it first, 23% ranked it second, 47% ranked it third, 18% ranked it fourth and 12% ranked it fifth according to position.

0
second third %age fourth fifth

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CHAPTER 7 7.1 FINDINGS

o The project, which has been assigned, can be boon for any trainee who wants to pursue his/her carrier as trainer. o The training methods, which the department was using, were unique and were very effective. o The target which has been assigned to each trainee was not seems to be a burden on them as for that they were trained by the trainers who had established a parent child relationship rather than a trainer and trainee relationship. o Regular evaluation of the performance always helps to make the learning more effective. o Motivation is the key to success for any trainer as when he/she motivates his/her trainee then only the trainee will be able to learn more and more.

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7.2 Conclusion
1. I have received following while working as a summer trainee in Bajaj Allianz life insurance in accordance with the objective. 2. Insurance sector is a booming sector in todays scenario. It is adding a major part to our Indian economy. So one can think himself lucky if he/she get a chance while working within this sector. 3. As I got the golden opportunity working with the training department, I got to learn what actually training means in the corporate world. I worked on the project SM mentoring. In this, I learned how to train, mentor and enhance the skills and talents of the trainees. 4. The conclusion what I draw is that training is an important tool for learning and training department is the only, by which we can get it. Training department is like the blood in the veins of the company, which helps to develop the work force working there to attain a maintainable position in the society.

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7.3 RECOMMENDATION & SUGGESTION


1. -The training methods used should not only sound good but also they should have practicality in them. 2. -The trainers should sometime adopt paternalistic approach 3. -The projects should be easy to understand and apply. 4. -The training procedures should be made keeping in mind that it should be suitable for all as all come from different educational background. 5. -if the company is using an online training process for training the advisors then this should be kept in the mind that whether all the facilities needed for that are available in the area or not.

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6.

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APPENDICES
QUESTIONNAIRE 1. PERSONAL PROFILE NAME: AGE: PROFESSION: ANNUAL INCOME: .. CONTACT ON; MARITAL STATUS: ................... ADDRESS:

2. Are you aware of BAJAJ ALLIANZ and its products? Yes [ ] No [ ]

3. Are you availing any insurance facility from any other insurance co.? Yes [ ] No [ ]

If Yes, in which . . . . . . . . . . . . 4. What is the best part in others? Policies [ ] Services [ ] Maturity period [ ] Installment [ ]

5. What you prefer while invest in insurance? Tax saving [ ] Investment [ ] Risk covers [ ] Others [ ]

6. Do you want to earn more money from insurance? Yes [ ] No [ ]

7. Which product do you like most in Bajaj Allianz? New unit gain [ ] New unit gain gold [ ] Century Plus [ ]

8. What changes you are looking for in insurance policies? ..

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. 9. Does the insurance really meet with your requirements? Yes [ ] No [ ]

If no, why 10. Which one is favorite investment area for you in long term? Fix deposit [ ] Insurance [ ] Real Estate [ ] Others [ ]

11. Where do you see Bajaj Allianz in insurance sector? First [ ] Second [ ] Third [ ] fourth [ ] Fifth [ ] Others [ ]

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BIBLIOGRAPHY

Writers Philip Kotler Philip Kotler Rajan Saxena Aswathapa MAGAZINES

Books Principle of Marketing Management Edition-Vth 2003 Pg- 164 Marketing Management Edition- IVth 2004 Pg-187 Human Resource Management Edition-IIIrd 2004 Pg-175

Various issues of Business world Various issues Business Today Web sites www.irda.com www.bajajallianj.com www.google.com

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