Presented By:

Sumit Kumar

COMPANY PROFILE

Allianz AG

Bajaj Allianz
Bajaj Auto

Mission & Vision

MISSION As a responsible, customer focused market leader, we will strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money. VISION To be the first choice insurer for customers To be the number one insurer for creating shareholder value

TYPE OF INSURANCE
Life

Insurance

Motor
Health

Insurance
Insurance Insurance

Home
Travel

Insurance

SWOT ANALYSIS
Strength

Global exposure in Insurance through Allianz SE and Strong Local Implementation by Bajaj Its network across 200 towns Fundamentally Strong with good paying Capabilities

Allianz AG is an insurance conglomerate globally

Lack of penetration in rural areas Smaller Infrastructure as compared to established players

Weakness

Contd.
Opportunity
Growing

rural market potential

Urban

Youth with growing income crisis and economic instability

Threats
Economic

Increasing awareness amongst people about securing their future

PROJECT OBJECTIVE

To know the consumer responses and behavior about Bajaj Allianz life insurance policy and know the benefits of insurance

Observe the process of insurance sector

IMPORTANCE OF INSURANCE

Insurance constitutes one of the major segments of the financial market.

Today insurance industry is one of the most growing sectors in India.

The scope of the study of Insurance industry of India would be very great as there are ongoing developments in the industry after the opening of the sector.

What is Insurance

Insurance is a form of risk management Used to hedge against the risk of a uncertain loss It is an equitable transfer of risk from one entity to another in an exchange of payment.

PROCESSES
Contact With Customers
Give The Introduction Make Insure About Meeting With Customer Always Take Two Days For meeting

Always ask Two Time slot to meet with Customers

Cont
Physically Present with plan Tell about the need of the product Listen to customer Solve the quarries of customer Take others contact no. with the customers reference and try to make pool

Cont
Sale The Product

Take The required information from customers

Documentation create satisfaction in the customer

BENEFITS OF LIFE INSURANCE

Risk cover Tax Deduction Loans Retirement Planning

Educational Needs

BENEFITS OF LIFE INSURANCE

Single and joint life availability Provides special premium rate Include spouse facility

Customer Feedback

LEARNINGS

Most of investors not fully aware about Life insurance policies and their advantage. It was found most of the investor prefer, less risk taking saving scheme or fixed deposits. Some of the people, who were related to rural area, did not know about facility for investment of money in Life Insurance Policy schemes. The investors were interested more in Policies of LIC because it is a Government body.

SUGGESTIONS & RECOMMENDATIONS

Semi Urban Market as there is a lot of opportunity. proper communication with its front office as well as back office workers to increase the morale and productivity. Should proper communication with the customer.

Contd

The company should always have proper planning for gifts/incentives for employees on various occasions or on competitions.
Economical class of services should be launched by the company to serve the varied nature of customers. Service cum awareness camps should be run by the company in remote areas.

Improvement in services through feedbacks from customer s is recommended