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CH

APTER IV

DATA ANALYSIS AND


INTERPRETATION
Table No 4.1: Table showing Age profile of the respondents.

Particulars No. of Respondents Percentage

Less than 25 11 22

25 – 35 18 36

36 – 45 8 16

46 – 55 7 14

Above 55 6 12

Total 50 100

Graph No 4.1 Graph showing age profile of the respondents


50

45

40

35

30

25

20 18

15
11
10 8 7
6
5

0
Less than 25 25-35 36-45 46-55 55 and above

INTERPRETATION OF DATA

From the above table and chart, it is shown that the more respondents are came under the
age group of 25-35 higher personal disposable income. Dependency of family system,
social cultural factors, all these factors constitute a strong reason to attracts people to
insurance sector. The sector is mainly enriched with savings and tax benefits mentality of
policy holders. The maturity period of policy in India varies with different plans and
different companies. The Indian market is strongly depending with a upper middle
income youth. The investment and saving perception this people came by the way of
influence of mass advertisement and influence of peers and friends.
The 22% of the respondents start their insurance activities in the early stage of
life. They are mainly motivated with the work life balancing mentality of parents and
others who have a direct influence in his life.

Table No 4.2: Table showing Marital Status of the respondents


Graph No 4.2: Graph showing Marital Status of the respondents

Particulars No. of Respondents Percentage

Single 14 28

Married 36 72

Total 50 100

50

45
36
40

35

30

25

20 14
15

10

0
Single Married
INTERPRETATION OF DATA

From the above study, it is understood that the major respondents are married. They
already covered their bachelor hood and entering the second stage of family life cycle.
The couples with a child have their own needs and aspiration about their life. They can
easily maintain their investment pattern by pooling the two sides income. In Indian
context husband is considered as the head of the family where others are depends on him.
He want to ensure the well being of the family members after his death also. The family
life cycle passing through a different stages in India where the marketer for insurance and
investment can easily entering to the life of the people. The socio-cultural factors of
Indian society also has a great importance in the development of insurance sector. The
initial stage parents creating some wealth for children when children grown up they want
to perform the role of parents in the same manner.
Table No 4.3: Table showing educational qualification of respondents

Particulars No. of Respondents Percentage

SSLC 9 18

PUC 12 24

Degree 19 38

Post – Gradate 10 20

Total 50 100

Graph No: 4.3: Graph showing educational qualification of the respondents

50

45

40

35

30

25
19
20

15 12
9 10
10

0
SSLC PUC Degree Post Graduate
INTERPRETATION OF DATA

From the above statistics it can be analyzed that the majority of the respondents have a
recognized university degree in their career. The processing and pattern of common life
of the people is fully enriched with the support of education and moral value system. The
systematic arrangement of things and routines in life is mainly influence by the level of
education he has. Bangalore is mostly filled with migrated people from neighboring
states. They possessed some sort of education from their native and shifted to this city
and increase their knowledge and acquiring enough personal income by getting right type
of job. The number of post graduate in the city is increasing year by year. Education level
has a great influence in the insurance sector of the country where by the investors are
more competent to know the rules and regulations of the particular industry.
Particulars No. of Respondents Percentage

< 150000 4 8

150000-300000 11 22

300000-500000 18 36

500000-1000000 12 24

Above 1000000 5 10

Total 50 100

Table No 4.4: Table showing annual income of the respondents

Graph No: 4.4: Graph showing annual income of the respondents


18
18

16

14
12
12 11
10

6 5
4
4

0
00

0
00
0

00
0

0
0

0
00

00
50

0
00

00
0

0
>1

10
-3

-5

<1
00

00

-
00
00

00

00
15

30

50

INTERPRETATION OF DATA

From the above statistics, it is mentioned that the majority of the respondents are came
under the income group of 3 lakh to 5 lakh is an annum. The annual income refers to the
income earned by an individual from all sources in an accounting year. The recent
economic development of India leads a narrow increase per capita income of the people.
The major portion of the Indian people comes under the category of middle income
people. A strong upper middle class of India is attracted by the multinational companies
and there by they easily creating a market for this products. The personal disposable
income (Personal income- Direct taxes) of the people is distributing different way where
they want to meet their consumption pattern. The remaining portion is termed as saving
or investment (Personal disposable income- Consumption = investment). The investment
pattern of society is mainly determined by the level of annual income earned by an
individual.

Particulars No. of Respondents Percentage

Yes 36 72

No 14 28

Total 50 100

Table No: 4.5: Table showing No of respondents in coverage in insurance


Chart 5 showing no of respondents in coverage in insurance

50
45 36
40
35
30
25
14
20
15
10
5
0
Yes No

INTERPRETATION OF DATA

From the above data, it is clear that majority of investor are covered by a life insurance
policy. The influence of mass media, change in the life style of Indian community.
Various schemes and plans by private competitors, tax savings mentality all these
constitutes a strong reason to have an insurance coverage to every one. The policy
holders mainly interested to savings pattern and returns gained from that operation. The
policy holders hardly interested to take a risk where the main motto of insurance
coverage is to safeguard himself and his dependents from uncertainties. In ordinary life of
common man many things are occurring some of them are happiest moments and
remaining may be painful. The worse thing is cannot be certain it may or may not be
happen. Here the policy holders availing the policy to cover uncertainties in life. The
28% of the popularity cannot covered by insurance policy where his investment may
belong to any other forms.

Table No 4.6 Table showing basic motives of the investment of respondents


Particulars No. of Respondents Percentage

Protecting 19 38

Savings 13 26

Retirement 11 22

Investment 7 14

Total 50 100

Graph No 4.6 Graph showing basic motives of the investment of respondents

50

45

40

35

30

25

19
20

15 13
11
10 7

0
Protection Savings Retirement Investment
INTERPRETATION OF DATA

The 38% of the respondents acquiring a life insurance policy to have a protection in life.
Every life insurance policy helps the policy holder is providing financial security and
protection to the family in case something happens to the policy holders. The insurance
acts as a covering shield against the uncertainties in life. Even though nobody can
guarantee against uncertainties. The insurance company provides some sort of relief to
the holder for the discomfort happened through uncertainty. The 26% of respondents are
acquiring policy because of saving mentality. It works as a long terms savings thus giving
a financial strength to investor to achieve long term goals in life. It also helps to tax
benefit under section 80cc people can save the tax money by investing in life insurance
policies. The 22% of respondent holding insurance policy for the matter of retirement. It
helps to make sure have regular income after the retirement period of the holder. He can
maintain the same standard of living where he was in the young period. The old age
people always expecting same level of treatment and care whose they had given in the
early stages. It is only happens only if he has a regular flowing income. The 14% of the
respondents are having insurance policy because of the investment motto. Life insurance
is a safe long term investment free from the risk of market swing. The other form of
investment is depends I the volatility of stock market where the insurance are free from
risk factors.
Table No 4.7 No of policies of the respondents

Particulars No. of Respondents Percentage

One 28 56

Two 15 30

More than two 7 14

Total 50 100

Graph No 4.7 No of policies of the respondents

50

45

40

35
28
30

25

20 15
15
7
10

0
One Tw o More than tw o
INTERPRETATION OF DATA

From the above table and diagram it is clear that the 56% of respondents are having one
insurance policy with them. Another 30% of the respondents are 2 types of policy with
them. The private participation in insurance sector made more competent in each
individual level to acquire more policies. The effect of marketer, the influence of mass
advertisement the different positioning strategy adopted by the private insurance
companies and deregulation activities of government policies, tax benefit scheme all the
factors made the policy holders more attached with this particular sector. They can avail
all these benefits by acquiring more policies. This collateral motivational techniques
effectively used by the marketer in Indian context to pooling up more resources from the
individual as insurance policies. They succeed up to great extent in their targets.
Table No 4.8 Table showing premium paying in a year by respondents

Particulars No of respondents Percentage

< 10000 11 22

10000-20000 19 38

20000-35000 14 28

Above 35000 6 12

Total 50 100
Chart 8 showing premium paying in a year by
respondents

50
45
40
35
30
25
19
20
14
15 11
10 6
5
0
0

00
0

00
00

00

50
00
0

20
>1

<3
35
0-

0-
00

00
10

20

INTERPRETATION OF DATA

The 38% of the respondents under study is pay 10000-20000 as premium per annum. The
policy may charge installment quarterly or half yearly. But the level of annual income is
calculating for the purpose of salary. The 28% of the respondents are paying the annual
premium of 20000-30000 as premium. The yearly savings pattern of individual and
premium level is treating in the same direction so as to get a complete idea about the
investment pattern of the individual. The policy holders expecting some what same
returns from the investment where we can get from these form of investment. The single
premium of each insurance policy may differs depend up on the plans and schemes of the
company. The private insurance company always try to capture by the way of penetrating
strategy. In the premium level where the customers can easily afford it.
Table 4.9 Table showing factors consider in investing in insurance policy

Particulars No of respondents Percentage

Brand name of the 18 36


company

Past performance 14 28

Benefits in plans 16 32

Marketing strategies 2 4

Total 50 100
Chart 9 showing factors consider in investing in
insurance policy
50
45
40
35
30
25
20 18
14 16
15
10
5 2
0

y
e

ce

an

g
am

te
an

Pl

ra
N

rm

in

St
d

rfo
an

its

g
Pe

tin
Br

f
ne

ke
st

Be

ar
Pa

INTERPRETATIONOF DATA

The policy holders of any insurance company are conscious about their money and
investment pattern. Before investing an insurance plan policy holders want to make an
analysis about the company performance and brand name. The 36% of respondents are
more conscious about the brand name of the company and proposing to invest the 28% of
the respondents are more conscious about past business performance of particular
company where they are proposed to start a life insurance policy. The other 32% of the
respondents are more aware about the benefits in different plans announced by the
company. Each individual want more benefits in terms of tax savings and long term
investments.
Table No 4. 10:Table showing the brand loyalty of respondents in insurance
companies
Particulars No of respondents Percentage

LIC 21 42

Reliance 14 28

ING Vysya life 9 18

HDFC life 6 12

Total 50 100

Chart 10 showing the brand loyalty of respondents in


insurance companies

50
45
40
35
30
25 21
20
14
15
9
10 6
5
0
LIC Reliance ING Vysya HDFC
INTERPRETATION OF DATA

From the above table, it is clear that majority of investors are more attached with the life
insurance corporation of India. It is a public company controlled by government by
adopting various changes and policies as and when needed. The private participation in
insurance sector made more competition in the industry. The private companies like
reliance, ING Vysya , HDFC, Sun life came to the industry. The market potential of
private companies apart from the LIC can be analyzed by looking the above diagram. The
ING Vysya has 80% of total market share in the particular industry. The market potential
of each private firm is varying depending upon the marketing strategy plans and schemes,
product diversification etc adopted by different firms.
Table No 4.11 Table showing aware of ING Vysya life

Particulars No of respondents Percentage

Yes 32 64

No 18 36

Total 50 100

Chart 11 showing aware of ING VYSYA Life

50
45
40 32
35
30
25 18
20
15
10
5
0
Yes No
INTERPRETATION OF DATA

The 62% of respondents are aware about the ING Vysya life insurance policies. The
market potential of ING Vysya life insurance policies is quite satisfactory while
comparing with other private insurance companies. The plans and policies adopted by
ING to attract more segmented to affectively works through out the last years. The
segmented market of the company is the individual who acquired personal income 2 lakh
per annum so the policies are design in a such manner to attract the segmented group.
The marketing strategy used by the firm to attract more competent investors is the main
reason for the phenomenon. The 38 % of the respondents did not aware about the plans
and schemes of ING Vysya life insurance. They are not much proposed to the modern
trend of advertising.
TABLE 4. 12: Showing the awareness about the company by the respondent.

Particulars No. of Respondents Percentage

Advertisement 19 38

Friends and relatives 11 22

ING Vysya Bank 14 28

Others 6 12

Total 50 100

50
45
40 38
35
30 28
25 22
20
15 12
10
5
0
nk
es
t

er
en

Ba

th
iv
m

O
at
se

a
l
re

sy
rti

Vy
d
ve

an
Ad

G
s

IN
nd
ie
Fr
INTERPRETATION OF DATA

The 38% of the respondents get information about the ING Vysya life insurance through
advertisement media. The globalised era of Indian economy made competition between
firm so vibrant and potential. Each private player in the particular industry to create their
own territories in the sales. Advertisement considered as an important criteria for sales.
Each competent firm are competing to capture the eye ball of the customer. Every one
want to positioning their services as best. The 22% of the respondents get information
from friends and relatives. The social cultural factors of Indian community made life
complex and prestigious. Now a days the influence of family and friends of an individual
is so dynamic. The influencer can grasp the positive word of mouth from the influence by
way of searching the best part of it 28% of the respondents are customer of ING Vysya
bank. The particular group start their working in India as a bank. The respondent easily
gets the information about insurance plan from their bank also. This is the special type of
marketing strategy used by the group.

\
Particulars No. of Respondents Percentage
Conquering life 7 14
Best years 19 38
Creating life 14 28
New freedom plan 6 12
Others 4 8
Total 50 100

Table 4. 13: Different plans in the ING Vysya life


50
40
30
20 19
14
10 7 6 4
0
fe

an
fe

s
s

er
ar
Li

Li

pl

th
ye
g

m
rin

O
t in

do
st

ea
ue

Be

ee
nq

Cr

Fr
Co

w
Ne

INTERPRETATION OF DATA

From the above chart it is clear that 38% of the respondents are interested in to (best
years plan ) this plan contain all factors like protection, savings, investment and less
maturity period. The respondents are really interested in this plan. This plan may out
perform other plan in near by future. One of the other important plan is creating life the
plan is specialised in to low maturity period and less amount premium. People can remit
their amount yearly half yearly or quarterly. The people may interest the amount pattern
as maturity period of the particular plan
Table 14: Showing the maturity period of Life insurance policy.
Particulars No. of Respondents Percentage

Less than 5 18 36

5 – 10 21 42

Above 10 year 11 22

Total 50 100

50

40

30
21
18
20
11
10

0
0
ar

ar
- -1

ye
ye

05
>5

0
<1
INTERPRETATION OF DATA

The 42% of the respondents are interested with the maturity period of 5- 10 years. Each
policy holders have a determined goal while investing in a life insurance policy. The
specified goal should be derived from the performance of policy. Usually individual 5-10
maturity period expect reasonable return including bonus and sum assured up to the
particular period. The amount which are derived from the policy investment sum assured
plus bonus should match the economics cost and psychic cost of the holders. If the
economic cost and psychic cost is match with economic gain and psychological gain we
can say that policy holders is satisfied with the entire life time of the policy
Table 4 15:
Particulars No. of Respondents Percentage Satisfaction level
Highly satisfied 9 18 of respondents.
Satisfied 18 36
Comparatively good 16 32
Not satisfied 7 14
Total 50 100

50
45
40
35
30
25
20 18 16
15
10
9 7
5
0
d

od

d
d

fie

fie
f ie

go
tis

tis
t is

y
Sa

sa
sa

el
tiv

ot
ly

ra
h

N
ig

pa
H

om
C
INTERPRETATION OF DATA

From the above analysis it is mentioned that the 36% of the respondents are
satisfied with the plans and schemes of ING life insurance. The first attitude and
personal relation with policy holders made their policy as so vibrant and competent
in the market. The customer satisfaction level is consist with the cost and benefits
equated. When cost factors (economic cost, real cost, psychic cost) exceeds
benefits(real benefit, psychological benefit , economical benefit ) derived from its
customer