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ACKNOWLEDGEMENT

Writing a dissertation is always the most challenging part of a students life. It was definitely the most important academic contribution by me. This however would not have been possible without the encouragement and of a few people. Here I take this opportunity to display my gratitude towards them, First and foremost, I would like to thank my professor, ms. for being a source of support

and encouragement, guidance and persistent help. Thank you madam for your time, support and patience. !y "incere thanks to both academic and non academic staff of the !ahara#a agersen institute of management studies, for all their assistance. I would like to thank my parents for love and support bestowed on me. Thank you for your blessings. $lso I would like to thank my friends for staying by me during the difficult parts of life. Thanks for help and love irrespective of the situations. I would also like to thank all my respondents for taking out time from their busy lives to help me with my research. %ast but not the least, I would like to thank &od for all. Thank 'ou

Executive Summary
The ob#ective of the pro#ect was to do !arket (esearch and customer "atisfaction for !a) new 'ork %ife Insurance for that we have to understand the customer needs, Income, constraints, response and emotions so that they can contribute their time for becoming %ife advisors for the *ompany. The ob#ective of this study was to analy+e consumer satisfaction of mechanical splicing in ,elhi city with respect to the performance, sales effort and sales service. $s the company was new and it was yet to be marketed to a large number of customers, it was essential to know the feedback of customers in order to formulate effective marketing and sales strategies in future and improve the -uality of service to achieve better consumer satisfaction. The site visits and companing made us possible to measure the satisfaction of consumer by identifying the attributes, which gave consumer varying degrees of satisfaction. .uestionnaire based on company format some attributes like re-uirement of customer and sales services offered by company were identified as critical /motivational0 factors for providing satisfaction to consumers, while other factors like e)cisable deposit center, premium collocation was time to time and also intimation regaining before the collocation of premium. 1ut absence of such hygienic factors definitely results in a dissatisfied consumer. These hygienic factors could result in selling but their absence can certainly unseal the product offering. For this a -uestionnaire was prepared which gave a vague idea about the people who were really interested and wanted to know about various new opportunities in the insurance sector. &o through -uestionnaire in different area and people in the ,elhi city. The study was undertaken for ,elhi region during two months. The researchers were given first 23 days for collection of data and scanning the data. The -uestionnaire contains various aspects like there. $ddress, their present age, profession, number of dependents, &oals and also planning for old age /(etirement0 etc. The second part of the study that consists of 45 days contains scanning the -uestionnaire and taking appointments. $fter that usually meeting the persons and tell them about the company.

0riting the Summer Project Report

Student:s De*laration Certifi*ate from the Com(an! Certifi*ate from the Guide &*6no5ledgements ";e*uti e Summar! $ist of Ta'les $ist of Charts $ist of Gra(hs

Table of *ontents *hapter ! 'ntroduction to the topic

&'out the *om(an!9to(i* (in*lude details li6e (rodu*t mi;, mar6eting mi;, <, (oli*ies, et*) a**ording to the need of the (ro1e*t

*hapter 2

&ethodolog%

Research Design (";(lorator!, &nal!ti*al et*#) Data *ollection )rimar! and Se*ondar! data Instruments for Data Colle*tion (=uestionnaire, In entories, Inter ie5 et*#) %ethod for Data Colle*tion (Sho((ing %all Inter*e(t, Tele(hone, ">mail et*#)

*hapter 1 *hapter 3 *hapter 4 *hapter 6

Findings 2 Anal%sis *onclusions Recommendations 5 Suggestions +imitations of the Stud%

Bi'liogra(h! &nne;ures 1# =uestionnaire (If &((li*a'le) +# %is*ellaneous ? S*hedule for )ro1e*t *om(letion#

*hapter
INTRODUCTION OF THE TOPIC
The purpose of this training was to have practical e)perience of working within the organi+ation, in the filed of marketing and to have e)posure to the important management practices in field of marketing. While writing this report the language has been keep simple and the entire discussion has been logical and has coherent outlines. The main motto of the pro#ect work was Mar et Re!earc" a#$ cu!t%mer Sati!&acti%# %& Max Ne' (%r Li&e I#!ura#ce) De*"i+ It includes through market (esearch in various plans of !a) 6ew 'ork %ife Insurance. $nd in detail consumer /"atisfaction0 responses analysis, by surveying number of consumers. The pro#ect report is divided into two parts, first part consists market research for finding out best sold plan of !a) 6ew 'ork %ife Insurance, $nd second consist survey report of various consumers about their responses about satisfaction towards Max #e' (%r Li&e I#!ura#ce C%m,a#y+

IMPORTANCE OF THE TOPIC

The pro#ect report is all about market research to find out best sold plan of !a) 6ew 'ork %ife Insurance, ,elhi. $nd to mouser the satisfaction level of consumers of !a) 6ew 'ork %ife Insurance. !arket research helps !a) 6ew 'ork %ife Insurance about the best plan purchased by its consumer satisfaction level helps to know weather the consumers are satisfied by service78lans of !a) 6ew 'ork %ife Insurance

INDUSTR( PROFILE
The industries, businesses and individuals are considerably by the services of insurance organi+ation. $. The oldest form of insurance /29th century0 is marine insurance. $fter wards in 2:th century fire insurance is started in &ermany. 1. The first registered life office was Hand in Hand "ociety established in 2:;:. *. In India the first life insurance was started in the 1engal 8residency in 2<2< knows as oriental life insurance company. ,. =)periencing so many ups and downs the insurance business was found in changed shapes. 8articularly after attaining independence and to the more specific after nationali+ing in 2;3:. =. There was ma#or change in the insurance sector after globali+ation in 9552. The private player in the insurance industry and ends the dominance of %I*. F. The different !6* s company of foreign country enters in the insurance industry with the #oint venture with Indian companies. Today total 22 private life insurance companies are working in insurance industry.

HISTOR(
-.-/0 the Indian %ife $ssurance *ompanies $ct enacted as the first stature to regulate the life
insurance business.

-./10 the Indian Insurance *ompanies $ct enacted to the government to collect statistical
information about both life and non life insurance businesses.

-.210 =arlier legislation consolidated and amended to the insurance $ct with the ob#ective of
protecting the interests of the insuring public.

-.340 943 Indian and Foreign insurers and provident societies taken over by the central
government and nationali+ed. %I* formed by an $ct of 8arliament, vi+. %I* $ct, 2;3:, with a capital contribution of (s. 3 core from the &overnment of India.

INSURANCE SECTOR REFORMS0

-5 Structure
&overnment stake in the insurance companies to be brought down to 35>.

/5 C%m,etiti%#
8rivate companies with a minimum paid up capital of (s. 2bn should be allowed to enter the industry. 6o company should deal in both %ife and &eneral Insurance though a single entity. Foreign companies may be allowed to enter the industry in collection with the domestic companies. 8ostal %ife Insurance "hould be allowed to operate in the rural market. ?nly ?ne "tate %ife Insurance *ompany should be allowed to operate in each state.

25 Re6u*at%ry 7%$y
The Insurance $ct should be changed $n Insurance (egulatory body should be set up *ontroller of Insurance /*urrently a part from the Finance !inistry0 should be made independent.

85 I#ve!tme#t!
!andatory Investment of %I* %ife Fund in government securities to be reduced from @3> to 35>.

35 Cu!t%mer !ervice
%I* should pay interest on delays in payments beyond A5 days. Insurance companies must be encouraged to set up unit linked pension plans. *omputeri+ation of operations and updating of technology to be carried out in the insurance industry. The committee emphasi+ed that in order to improve the customer services and increase the coverage of the insuranceB industry should be opened up to competition.

ENTRANCE OF PRI9ATE PLA(ERS IN INSURANCE SECTORS

India still has low insurance penetration of 2.;3 percent, 32st in the world. ,espite the fact that India boosts a saving rate of around 93 percent, less than 3 percent is spent on insurance. The insurance landscape in India is undergoing ma#or changes. *lose to foreign competition since nationali+ation in 2;3:, the life insurance industry had been protected from competitive pressures. 6ow, with the reopening of the sector, several new players have entered the scene. The acronym for the Insurance (egulatory and ,evelopment authority of India, it overseeing the insurance business in India. It protects the interests of the policyholders received and ensures orderly growth of the insurance industry and for matters connected there thereto. 1eside !a) 6ew 'ork %ife Insurance there are other 22 private players working in life insurance sector, which are as follows.

A**ia#: 7a;a; Li&e I#!ura#ce C%m,a#y Lt$+

$llian+ 1a#a# %ife Insurance *ompany %td. is a #oint venture between $llian+ $& /%argest insurer in =urope0 and 1a#a# $uto %td. incorporated on 29th march 9552.

AMP Sa#mar A!!ura#ce C%m,a#y Lt$+

$!8 "anmar $ssurance *ompany %td. is a #oint venture between $!8, largest life insurer in $ustralia and 6ew Cealand, "anmar is one of the largest industrial groups in "outh India dealing in chlorochemicals and shipping and =ngineering.

Aviva Li&e I#!ura#ce C%m,a#y Lt$+

$viva %ife Insurance *ompany %td. is a #oint venture between ,abur India and *&D, is a wholly subsidiary of $viva 8lc /DE0.

7I Li&e I#!ura#ce C%m,a#y Lt$+

India s largest bank "1I and *ardiff ".$, a leading insurer in France came together to from "1I %ife.

Tata Li&e I#!ura#ce C%m,a#y Lt$+

Tata %ife Insurance *ompany %td. is capitali+ed at (s. 2<3 croreB of which @4> has been brought in by T$T$ "ons and the $merican partner bring the balance 9:>.

ICICI Pru$e#tia* Li&e I#!ura#ce C%m,a#y Lt$+

I*I*I 8rudential e-uity based stands at (s. :@3 *r. With I*I*I group and 8rudential 8lc holding @4> and 9:> stake respectively.

7ir*a Su# Li&e I#!ura#ce C%m,a#y Lt$+

1irla "un %ife Insurance *ompany is a @4F9: #oint venture between $ditya 1irla &roup and sun life financial services of *anada.

HDFC Sta#$ar$ Li&e I#!ura#ce C%m,a#y Lt$+

H,F* "tandard %ife Insurance *ompany %td. was one of the first companies to be granted license by the I(,$ to operate in life insurance sector. It was incorporated on 24th august 9555. H,F* is the ma#ority stakeholder in insurance GH with <2.4> stake and "tandard life /largest mutual assurance company in =urope0 has a stake of 2<.:>.

ING 9y!ya Li&e I#!ura#ce C%m,a#y Lt$+

I6& Hysya %ife Insurance *ompany %td. is e)pected to be first bank assurance venture in the country. Together they have roped in &!( group, which has wide ranging interests in field such as power generation infrastructure, manufacturing, software and banking. $s per GH agreement Hysya bank would hold 4;> stake, I6& /=urope, ,utch origin0 9:> and &!( group would hold 93> of the stake.

Met Li&e I#$ia I#!ura#ce C%m,a#y Lt$+

It was incorporated in $pril 9552 as a #oint venture between !et %ife International Holding, Inc, Gammu I Eashmir bank, and !. 8allon#i and company private %td.

Background

!a) 6ew 'ork %ife /!6'%0 Insurance *ompany %td is a 9:F@4 #oint venture between 6ew 'ork %ife, a Fortune 355 company and !a) India %imited, one of Indias leading multi business corporations. 6ew 'ork %ife had revenues of D"J 93.:; billion in 955Aand was ranked 2<3th in the Fortune 355 list. It has over 29,255 employees. !6'% has a paid up capital of D"J ;A.@; million, which makes !6'% one of the highest capitali+ed life insurers in India. !6'% has adopted prudent financial practices to ensure safety of policyholders funds and therefore invests only in debt instruments and meets both Indian and international disclosure norms. !6'% offers a suite of products comprising 24 life insurance products and ; options and riders. These products and riders can be customised to over 455 product combinations. ?ne of the leading private sector life insurance companies in India !6'% has emerged as one of the countrys leading private life insurance companies having recorded a sum assured of over D"J A.A@ billion through over 44:,555 policies sold. !6'% has underwritten a premium of around D"J 43.@ million in 9554 with a premium income of D"J @@.A million for the year 9554K53. !6'% had a premium income of D"J 4< million for F' 955AK 54, an increase of over 29A per cent over F' 9559K 5A. In terms of the number of policies sold, !6'% has underwritten 243,3<2 policies, an increase of over <@ per cent over F' 9559K5A. !6'% has a team of over 2,355 employees working at 4< offices across A4 cities in India. !6'% has also set up a *entre of ?perational =)cellence at its corporate office in &urgaon, Haryana. $fter the liberalisation of the life insurance sector in 2;;5s, private players are garnering an increasing share of the life insurance market. !6'% has managed to capture an overall market share of 5.@5 per cent and a share of 3.4 per cent among private life insurers in India. !6'% voted as one of the top 93 companies to work for in India !a) 6ew 'ork %ife was among the top 93 companies to work for in India, according to a recent survey published in 1usinessworld maga+ine, L&reat Workplaces In IndiaM. There were around 295 companies that took part in the survey and !6'% was ranked at the 95th position. First life insurance company to be awarded I"? ;552 certification !a) 6ew 'ork %ife was the first life insurance company in India to be awarded the I"5 ;552F9555 certification. I"? certification is internationally recogni+ed as a -uality standard that is critical to achieving success in the global marketplace. The certification process was conducted by 1ureau Heritas /1H.i0, the largest certification body in India.

Factors for "uccess Wide range of products !6'% was the first company to offer base products and riders. The company pioneered the introduction of Whole %ife policies, which offer customers a permanent insurance cover from ;2 days to 255 years. Whole %ife policies provide a prudent balance between risk cover and investment with the centre of gravity towards protection. !a) 6ew 'ork %ife is also the first company to offer multiple bonus options and the first to offer cash, rather than reversionary, bonus.

"trong agency force !6'%s primary channel of distribution is the agency force of over 3,355 individual agents. $gents are selected using a carefully designed programme and are trained for over 239 hours, far in e)cess of the mandatory 255 hours stipulated by the Insurance (egulatory and ,evelopment $uthority /I(,$0. The highly trained agency force has amongst the highest productivity of the private life insurance companies. In F' 955AK54, <2 agents were selected for the !illion ,ollar (ound Table /!,(T0, an e)clusive congregation of the worlds top selling life insurance agents. This is an <5 per cent increase over the number of agents selected in F' 9559 5A. "trong support from parent companies !6'% en#oys strong support from parent companies and is one of the highest capitalised private insurance companies in India. The parent companies would also provide a significant portion of further investment re-uirements till 955< for !6'%. High -uality service The insurance market was a monopoly and therefore the services provided by the incumbent player were poor. However with the change in market scenario, customers now have a much higher service e)pectation which is being offered to customers through !6'%s highly trained employees and agents. For e)ample, agents undertake a need analysis with every customer before suggesting a life insurance solution. $ 8ersonal Insurance 8lan, which gives the customer complete details of his7her policy with a year on year summary, is presented even before he7 she buys the policy. $lso, all policies are hand delivered by the agent and the customer understands the entire policy and its terms. %everaging the India $dvantage 6ew 'ork %ife /6'%0, apart from leveraging the low penetration Indian insurance market, is also taking advantage of the large investment opportunities !a) 6ew 'ork %ife Insurance *ompany %imitedF $T $ &%$6*= N Goint Henture between 6ew 'ork %ife and !a) India %imited. N ?ne of Indias leading insurance companies, 2355 employees, recorded a sum assured of over D" J A.A@ billion, sold over 44:,555 policies N (anked 95th in L&reat Workplaces in IndiaM by a survey by 1usinessworld maga+ine N Indias first insurance company to be awarded the I"? ;552F9555 certification

N Factors for successF Wide product portfolio, strong agent force, high -uality service N For 6ew 'ork %ife India isF $ new market for the insurance business as well as an investment opportunity in the infrastructure sector N Future plans, IndiaF =)pand business in second rung towns and develop business through bancassurance tie ups provided by the Indian infrastructure sector. N 6'% has a 25 per cent stake in &u#arat 8ipavav 8ort %td /&88%0. !aersk "ealand, part of the largest shipping lines and third largest port operator in the world and $8 !oller, ,enmark, are planning to develop the 8ipavav port as a regional hub. N 6'% is a stakeholder in 1harti Tele Hentures %imited /1TH%0, which is a leading player in the Indian telecommunications infrastructure sector. Future 8lans The global life insurance ma#or is bullish in favour of India over *hina in its international business plans. The companys vision is to become Indias most admired life insurance company. N Taking advantage of the freedom given to e)pand, !6'% now proposes to push its business to second rung towns. N !6'% is also planning banc assurance tie ups for e)panding its network. N !6'% has pro#ected a capital re-uirement of over D"J 99 million every year for the ne)t three to four years. The cumulative investment re-uired to grow the business till F' 955@K5< is to the tune of D"J 2AAK244 million. ?f this, the #oint venture partners would invest D"J @:.: million. N 6'% plans to raise its stake in !6'% after 1udget 9554 announced allowing a hike in foreign partners holdings from 9: per cent to 4; per cent. N !6'% is in talks with a number of large banks which might want to forge an Le-uity based partnership with the company. The insurance company is working at developing its business through bancassurance route.

SCOPE OF STUDIES
6eed for measuring customer satisfaction. *ustomers are too good to lose %ets keep them happyO *ustomer is the king. In the era of cutthroat competition and economic recession, above a)iom has more importance than ever before. !arketing starts with the customer and ends the customer . 8eter ,rucker. "o no organi+ation, small or big ignores the customers. =arth is not the center of universe but revolves around the "un . *opernicus. "imilarly, we have come to believe that business firm is not the center of economic universe but revolves around the customer. 1uild customer and not only products. 1uilding customers is not a single step e)ercise but a process .

O7<ECTI9E OF THE STUD(0

20 To determine the present position and satisfaction of customer in !a) 6ew 'ork %ife Insurance. The main ob#ective of the pro#ect was to analy+e consumer satisfaction of !a) 6ew 'ork %ife Insurance with other services in ,elhi. $nd also present position of the company. 90 To determine the market share of different brands. The second ob#ective of the pro#ect was to determine the market share of different brands available in the market. There was a tough competition for the brand in the market. Therefore to get establish, company had to make its competitors analysis and need to determine where do they stand. A0 (esponses of customer (esponses from them were collected through survey and for the -uestionnaire were prepared for both of them. 40 1enefits derived by assessing consumer satisfaction areF Feedback to organi+ation regarding product. Dnderstanding customer s re-uirements. 8roviding superior service to customer. "trengthen the relationship with customers. Formulating sales strategies. 30 Identify pros and cons of the brand. This was a fundamental ob#ective of the whole research. *ompany wants to identify that where does the brand lack. In other words, what are the brands so that it can rectify them in order to establish the brand in the market. :0 "uggestions and recommendations. The ob#ective of the research was not only to find out the problem but also the identification of solutions or suggestions of the problems.

RESEARCH METHODOLOG(
INTRODUCTION
(esearch is an art of scientific investigation through search for new facts in any branch of knowledge. It is a moment from known to unknown. (esearch always starts with a -uestion or a problem. Its purpose is to find answers to -uestions through the application of the scientific method. It is a systematic and intensive study directed towards a more complete knowledge of the sub#ect studied. $s marketing does not address itself to basic or fundamental -uestion, it does not -ualify as basic research. ?n the contrary, it tackles problems, which seem to have immediate commercial potential. In view of the ma#or consideration, marketing research should be regarded as applied research. We may also say that marketing research is of both types problem solving and problem oriented. !arketing research is as systematic and ob#ectives study of the problems pertaining to the marketing of the goods and services. It may be emphasi+ed that it is not restricted to any particular area of marketing, but is applied to all the phases and aspects.

METHOD OF DATA COLLECTION

-5 Data t% =e c%**ecte$+
,ata includes facts and figures, which are re-uired to be collected to achiever the ob#ectives of the pro#ect. In order to determine the present position and satisfaction of customer of !a) 6ew 'ork %ife Insurance.

a5 Primary Data
The data that is being collected for the first time or to particularly fulfill the ob#ectives of the pro#ect is known as primary data. These types of data were, The market share of !a) 6ew 'ork %ife Insurance. The market share of other brands available in the market. (esponses of consumer. Identifying pros and cons of the brand. The above primary data were collected through responses of consumer was conducted through -uestionnaires prepared for them.

=5 Sec%#$ary Data
"econdary data are that type of data, which are already assembled and neednot to collected from outside. These types of data were i0 *ompany 8rofile ii0 8roduct 8rofile iii0 *ompetitors 8rofile The aforesaid data were collected through Internet and company s financial report.

/5 Data C%**ecti%# Met"%$

For given pro#ect, the primary data, which needed to collect for the first time, were much significant. This type of information gathered through "urvey techni-ue, which is the most popular and effective techni-ue for correct data collection. The survey was completed with the use of -uestionnaires. .uestionnaire for consumer.

25 Sam,*i#6
"ample is the small group taken under consideration from the total group. This small group represents the total group. In the pro#ect the market research, which was ask to be studied was ,elhi market but as it was possible to approach all the respondent s customer of the city, hence a sample was selected which represents the whole city. The areas selected for the sample are present further in the appendi). "ample si+e of customer list was taken from !a) 6ew 'ork %ife Insurance customer data basic.

85 Data Eva*uati%#
The data so collected were not simply accepted because it contained unnecessary information and over or under emphasi+ed facts. Therefore only relevant data were included in the report, which helped in achieving the ob#ectives of the pro#ect.

DATA INTERPRETATION AND ANAL(SIS

Per!%#a* $etai* C*a!!e! >A6e5 N% %& Re!,%#$e#t! 2< 94 A3 43 33 94 A3 43 33 :3 4 2; 2: 1 -

20 4 0 4 0 7!23 23!14 14!34 34!44 44!64 )o. of response

ANAL(SIS $bove diagram consist five classes of different age groups. Here customer 2; customer biloges to 93 A3 age groups, 2: customers fall in the age group A3 43 years. ?ther < customer comes are in the class 43 33 years the age group of 2< 94 consists four customer reaming customer is in age group 33 :3 years. Here ma#ority of customer belong to the group 93 A3 years.

,o you think is it essential to have %ife InsuranceP '="QQQQQQQQQQ 6?QQQQQQQQQQQQQQQQ (e! N% T%ta* 6o. of (espondents > of (espondents 43 ;5 3 25 35 255

8(S ),

ANAL(SIS To this -uestion 43 consumers reported '=" and 3 consumers reported 6? .

Which are the companies you invested your money for %ife InsuranceP C%m,a#ie! !a) 6ew 'ork %ife Insurance %I* 1a#a# $llian+ Tata $I& Eotak !ahindra %ife Insurance H,F* %ife Insurance I*I*I 8rudential %ife Insurance N%+ %& Re!,%#$e#t! 35 2A B -A 3 -A /3 ? %& Re!,%#$e#t! 2@+8A //+// B @+82+@A @+8-1+3/

&a9 )ew 8or: life insurance +'* bajaj Allian; Tata A'# :ota: mahindra life insurance

ANAL(SIS icici prudential From the above figure we come life insurance to know that customer are also investing money in other life insurance companies. The ma#or player in insurance is %I* holding 99.99> of total sample. The second ma#or player I*I*I is holding 2<.39>. H,F* and $I& are having e-ual share of @.42> I the !a) 6ew 'ork I "1I are having A.@5>.

/DF*life ins urance

Why did you choose !a) 6ew 'ork %ife InsuranceP N% %& Re!,%#$e#t! (?I 8eer 8ressure Ta) 1enefit "ecurity 7safety %ow 8remium T?T$% 35 2< 23 25 9 3 35

? O& Re!,%#$e#t! A: A5 95 94 25 255

R,' Peer Pressure Ta9 Benefit S ecurit% 5 safet% +ow Premium

ANAL(SIS The above diagram shows A:> of respondents choose because of good returns, A5> because of peer pressure and remaining 94> opt. 1ecause of ta) benefit, safety and 255 premium respectively.

Which of the following planed you is insuredP N% % Re!,%#$e#t! !a) 6ew 'ork Fle)i plan !a) 6ew 'ork (etirement 8lan !a) 6ew 'ork =ndowment 8lan !a) 6ew 'ork *apital !ultiplier 8lan *hild $dvantage 8lan 93 2; A : 25

? O& Re!,%#$e#t! 45 A5 3 25 23

&a9 )ew 8or: Fle9i plan &a9 )ew 8or: retirement Plan &a9 )ew 8or: ( ndowment Plan &a9 )ew 8or: *apital &ultiplier Plan

N%te+ "ome of customers are having more than one plan total survey customers are 35. ANAL(SIS From the total :A respondents ma)imum i.e. 45> customers have opted for Fle)i 8lan, whereas A5> have gore for (etirement plans and remaining A5> Have customer are having endowment, multiplier and child advantage (espectively.

*hild ad-antage plan

What kind of services you e)pect from insurance provides N% %& Re!,%#$e#t! =asy access ability to ,eposit *enter Time to time premium collection 8rovision in case of ,ues 1onus I other schemes total 95 29 < 94 :4
eas% access abilit% to deposit center time to time premium collection pro-ision in cae of dues bonus2 other schemes

? O& Re!,%#$e#t! A2 2; 2A A@ 255

N%te+ "ome of customer are e)pecting more than single service. ANAL(SIS ?ut of total 35 respondents A@> like to have bonus and other service as a prime concern, 2A> like to have provision in case of dues and remaining A2> I 29> respondents say. They need time to time premium collection and easy accessibility to deposit center as a concern before choosing insurance provider.

How will you rate the services given by !a) 6ew 'ork %ife InsuranceP N% %& Re!,%#$e#t! 8oor $verage &ood =)cellent Total 2: 9< : 35 ? O& Re!,%#$e#t! A9 3: 29 255

poor A-erage #ood ( 9cellent

ANAL(SIS ?ut of 35 respondents 3@> have ratted !a) 6ew 'ork %ife Insurance "ervices as good and A9> have ratted as average. $nd remaining 29> have ratted as =)cellent.

What difference you find between !a) 6ew 'ork I your previous Insurance 8rovider. N% %& Re!,%#$e#t! &ood (eturns =ffective "ervice7li-uidity Ta) 8lanning "ecurity7 "afety 1enefit TOTAL 2: 29 9< 99 35
good returns

? O& Re!,%#$e#t! 92 23 A: 9< 255

effecti-e s er-ices5 li<uidit % ta9 planning

s ecurit%5 saft% benefit

N%te+ "ome of customers are having more than one plan more 1enefit are e)pected in one plan. Total surveys of customers are 35.

,o have any suggestion for !a) 6ew 'ork %ife InsuranceP 'esQQQQQQQQQQQQ 6?QQQQQQQQQ

%es no

yes 6o. of respondents A; > of respondents @<

no 22 99

total 35 255

ANAL(SIS To this -uestion A; consumers reported '=" and 22 consumers reported 6? .

In future, will you purchase policies from !a) 6ew 'ork %ife InsuranceP '=" 6o of A9 (espondents > ?f (espondents :4 6? 2< A: TOTAL 35 255

%es no

ANAL(SIS To this -uestion A9 consumers reported '=" and 2< consumers reported 6? .

O7SER9ATION AND FINDINGS

O7SER9ATIONS
!a#ority of the customer s belonged to age group of 93 A3 years that is 2; consumers. 43 consumers think %ife Insurance is essential for them. 2A3 respondents are investing in life insurance companies like !a) 6ew 'ork %ife Insurance, %I*, Tata $llian+, H,F*, I*I*I and "1I. A: percentages of the total respondents invest in !a) 6ew 'ork %ife Insurance for getting high (?I. !ost of respondent s preferred !a) 6ew 'ork Fle)i 8lan. A@.3 percentage respondents e)pect bonus and other schemes from !a) 6ew 'ork !ahindra %ife Insurance. 3: percentage respondents satisfied with services given by !a) 6ew 'ork %ife Insurance. $s per 9<> of despondence !a) 6ew 'ork %ife Insurance providers good ta) benefits to the Investors. :4> of respondents are willing to purchased policies from !a) 6ew 'ork %ife Insurance in future.

CONCLUSION
$fter conducting market research for !a) 6ew 'ork %ife Insurance *ompany we came to know different needs of consumers, their valuable suggestions, responses to the different -uestions. With this information we can conclude that there is good market awareness about !a) 6ew 'ork %ife Insurance *ompany in the market. *ustomer satisfaction level of most respondents is higher for !a) 6ew 'ork %ife Insurance *ompany, which is provided by survey. Higher satisfaction level of !a) 6ew 'ork life insurance company was monthly due to !a) 6ew 'ork provides good ta) benefit for the consumers also (?I, security etc. !a) 6ew 'ork Fle) s plan is the best sold plan in market by !a) 6ew 'ork %ife Insurance. This conveys that the customer s are switching to retirement plan.

LIMITATION AND RECOMMENDATIONS RECOMMENDATIONS

20 There is scope to sale insurance policy by concentrating on age group 2< 94 years here potential of customers are there./=)ample. "oftware professional, 18? employees, and professionals0 Fle)i plan can be sold by concentrating on age group A3 43 years. /=)ample. &overnment employees, e)ecutives and businessman0 90 $s ma#or respondents think to have life insurance policy is very essential there is lot of scope for insurance company. A0 !a) 6ew 'ork %ife Insurance should try to build trust among the public by making people aware of their investment is safe, high return on investment, Ta) 1enefits. 40 $s more respondents are investing in !a) 6ew 'ork %ife Insurance for getting high return on investment the company should try to provide attractive returns on investments in future. 30 !a) 6ew 'ork %ife Insurance should introduce attractive policies I also attractive bonus on policies to attractive more potential customers. :0 $ppro) A:> of respondents differ with there previous insurance provider, they field that !a) 6ew 'ork %ife Insurance providing good ta) benefit for there investment so !a) 6ew 'ork %ife Insurance if possible try to provided more ta) benefit customer. @0 :4> respondents are willing to purchases !a) 6ew 'ork %ife Insurance policies in future this benefit !a) 6ew 'ork %ife Insurance as mort potential customer in future.

7I7LIOGRAPH(
REFERENCES
1??E" !$&$CI6= 1usiness I =conomy !aga+ine *?!8DT=( W=1"IT= www.I(,$.com www.licindia.com www.hdfcinsurance.com www.businessindiaonline.com www.ma)newyorklife.com www.brandonline.com www.iciciprulife.com

ANNECURE
DUESTIONNAIRE
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9. ,o you think is it essential to have %ife InsuranceP '="QQQQQQQQQ 6?QQQQQQQQQQQQ

A. Which are the companies you invested your money for %ife InsuranceP a0 !a) 6ew 'ork %ife Insurance b0 %I* c0 1a#a# $llian+ d0 Tata $I& e0 Eotak !ahindra %ife Insurance f0 H,F* %ife Insurance g0 I*I*I 8rudential %ife Insurance h0 "1I

4. Why did you choose !a) 6ew 'ork %ife InsuranceP a0 (?I b0 8eer 8ressure c0 Ta) 1enefit d0 "ecurity 7safety e0 %ow 8remium 3. Which of the following planed you is insuredP a0 !a) 6ew 'ork Fle)i plan b0 !a) 6ew 'ork retirement 8lan c0 !a) 6ew 'ork =ndowment 8lan d0 !a) 6ew 'ork *apital !ultiplier 8lan e0 !a) 6ew 'ork *hild $dvantage 8lan :. What kind of services you e)pect from insurance provides a0 =asy access ability to ,eposit *enter b0 Time to time premium collection c0 8rovision in case of ,ues/8olicy %apse0 d0 1onus I other schemes @. How will you rate the services given by !a) 6ew 'ork life InsuranceP a0 8oor b0 $verage c0 &ood d0 =)cellent <. What difference you find between !a) 6ew 'ork I your previous Insurance provider. a0 &ood (eturns /HI&H="T0 b0 =ffective "ervice7%i-uidity c0 Ta) 8lanning d0 "ecurity7 "afety 1enefit I 8rotection on your *apital

;. ,o have any suggestion for !a) 6ew 'ork %ife Insurance '="QQQQQQQQQQ 6?QQQQQQQQQQQQQ 25. In future, will you purchase policies from !a) 6ew 'ork !ahindra %ife InsuranceP '="QQQQQQQQ 6?QQQQQQQQQQQQQQ