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SYNOPSIS

ON
ANALYSIS OF INSURANCE SECTOR IN INDIA WITH SPECIAL REFERENCE L.I.C

AT
SUBMITTED TO:
BHARTI BHATIA

Prepared by:

MANOJ KUMAR MBA, SEM-3RD Roll No. 1205008936

Analysis of Insurance Sector In India With Special Reference L.I.C RESEARCH OBJECTIVE Main Objective: 1. To study the analysis of insurance sector in India with special reference L.I.C 2. To study the Co parati!e Analysis of product pro!ided "y Insurance co pany. #. To $now the consu er feed"ac$. %. To $now the '. To &o!ern ent. Sub Objective: To increase the co petition in this sector so that the co ad!anta&e of en(oyin& )uality ser!ices at a reasona"le cost Insurance has a far reachin& effect in synchroni*in& "etween the !arious ser!ice sectors. So if this sector can &row+ the prospects of the !arious other ser!ices sector re ains to "e pro isin&. INTRODUCTION TO THE AREA OF RESEARCH The Indian in u!ance ect"! # chan$in$ bu ine envi!"n%ent ost of India as part of its "eco in& a li"erali*ed econo y has now opened up co petition fro on people has the ar$etin& strate&ies adopted to pro ote these products. a$e the pri!ate players responsi"le to the in!estors and not to the

its industry sectors for pri!ate players. ,urin& this sta&e of transition and hi&h the forei&n players+ Indian co panies find it difficult to sustain. er&ers and ac)uisitions a on& the This has led to a continuous process of

Indian co panies and "etween the Indian and forei&n co panies. An o!erhaul of the whole process of pri!ati*ations and li"erali*ations is not fair at this sta&e of transition. -ut the si&ns fro the industry and the opinions of industry e.perts and the point out the fact that Indian econo y is in an e!ol!in& sta&e. The !isi"le features of this e!olution are the pro(ected &rowth rate of /0 per annu hi&her le!els of "usiness acti!ity ta$in& place here.

SCO&E OF THE STUD' The study is desi&ned and focused pri arily on identifyin& the present ar$et position of the I12 3ysya Life Insurance. It also includes identification of its core co petitors and enhancin& efforts towards "rand repositionin& in present and in future. 1o study is &enerally full proof this report suffers fro full of opportunities 4 a hu&e potential lies in rural areas. RESEARCH METHODO(O)' &RIMAR' DATA SOURCES USED: # Appoint ents with different people who see Inte!vie* Meth"d +C",d ca,,in$-: This to "e prospecti!e ad!isors. ethod can "e certain li itation with respect to infor ation and analysis. Scope of Life Insurance industry in India is

ethod in!ol!es presentation of oral 5

!er"al sti uli and reply in ter s of oral 6 !er"al responses. This SECONDAR' DATA: # Secondary data data

used throu&h personal inter!iews and+ if possi"le+ throu&h telephone inter!iews. eans data which is already a!aila"le i.e. we refer to the data

which has already "een collected and analy*ed "y so eone else. Secondary ay "e either pu"lished data or unpu"lished data. In this pro(ect secondary followin& sources. 7sually pu"lished data are a!aila"le8 data collected fro

Telephone directory+ which contains telephone nu "er of all residents of the area+ co panies and shops. 1ewspapers+ "oo$s and and industry. We"sites and other pu"lications of co pany. STATISTICA( TOO(S USED The ain statistical tools used for the collection and analyses of data in this pro(ect are8 a&a*ines.

Reports and pu"lications of !arious associations connected with "usiness

9uestionnaire :ie Charts Ta"les

JUSTIFICATION FOR CHOOSIN) A &ARTICU(AR RESEARCH &RO&OSA( DETAI(S OF THE E.TERNA( )UIDE Life insurance is a contract+ often called a policy+ "etween you and an insurance co pany to pro!ide lifeti e you pay oney to a person you desi&nate+ in the e!ent that you die durin& the ti e the contract is in force. In essence+ durin& your oney+ $nown as the insurance pre iu + to the insurance oney to the persons you na e+ the "eneficiaries+ co pany. It pro ises to pay

at your death. So e types of life insurance also &i!e the policy owner the ri&ht to "orrow a portion of the cash !alue within a policy+ or to recei!e an accelerated death "enefit if you "eco e ter inally ill or re)uire confine ent in a lon& ter care facility.

Detai, "/ the E0te!na, $uide


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