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Transcript of 59465647 a Project Report on Reliance Life Insurance
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A PROJECT REPORT
ON
PRODUCT PROMOTION AND RECRUITMENT
SUBMITTED TO
MAEERs
MIT SCHOOL OF LIGHTING
AND
MANAGEMENT STUDIES
BY
ARADHANA PANDEY
L20704
1st BATCH
IN PARTIAL FULFILLMENT OF
POST GRADUATE PROGRAM IN LIGHTING TECHNOLOGY
AND
MANAGEMENT STUDIES
2007-2009
MAEERs MIT SCHOOL OF LIGHTING AND MANAGEMENT STUDIES
(MITSOT), PUNE
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TABLE OF CONTENT
Chapter No. Title Page No.
Declaration from student i
Certificate from Company ii
Certificate from Institute iii
Acknowledgement iv
List of tables v
List of Graphs vi
Executive Summary vii
I Introduction 1-24
1.1 History of Insurance 1-3
1.2 IRDA 4-5
1.3 Market Profile 6-12
1.4 Company Profile 13-19
1.4.1 Vision and Mission 15
1.4.2 Goal 15
1.4.3 Achievements 18
1.5 Product Profile 20-23
1.6 Objective and Scope of the study 24
II Research Methodology 25-29
2.1 Research Design 252.2 Sampling Methodology 26
2.2.1 Sampling Technique 26
2.2.2 Sampling Unit 26
2.2.3 Sample Size 26
2.2.4 Sample Area 26
2.3 Instrument for data collection 27
2.4 Data collection sources 28
2.4.1 Primary Data 28
2.4.2 Secondary Data 28
2.5 Limitation 29
III Data analysis and Interpretation 30-39
IV Findings 40
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V Conclusion 41
VI Recommendations 42
VII Bibliography 43
Annexure 44-48
A Questionnaire
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DECLARATION
I, Aradhana Pandey, hereby declare that this project report is the record of authentic work carried
out by me during the period from 21-07-08 to 05-09-08 and has not been submitted earlier to any
University or Institute for the award of any degree or diploma etc.
Aradhana Pandey
Date:
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CERTIFICATE FROM COMPANY
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CERTIFICATE FROM INSTITUTE
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ACKNOWLEDGEMENT
To accomplish a project it involves a lot of effort and contribution from a number of people. It is
thus an opportunity for me to thanks those people who have helped me generously in completion
of this project.
Exchange of ideas generates a new object to work in a better way. Apart from the ability, labor
and time devotion, guidance and cooperation are the two pillars for the success of any project.
Whenever a person is helped or cooperated by others his heart is bound to pay gratitude to them.
In the chain I am immensely thankful and convey my sincere gratitude to my mentor
Mr. Mukesh Gupta for his enlightening guidance, constant inspiration and keen interest shown
on me during the training. I deliberate my profound sense of gratitude to him and all the staff
members ofReliance Life Insurance Co. Ltd, for cooperating me at every stage of the project.
I am also grateful to my project guide Prof. Suhrud Neurgaonkar for her time to time guidance
in completing the project.
I am also thankful to all of my co-trainees, friends and my family who help me regularly
throughout the project. They acted as a continuous source of inspiration and motivated me
throughout the duration of the project helping me a lot in completing this project.
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LIST OF TABLES
Sr. No. Table Name Page No.
1 Board of Directors
2 Product(Protection Plan)
3 Product(Saving And Investment Plan)
4 Product(Retirement Plan)
5 Product(Child Plan)
6 Preference of Insurance Companies
7 Benefits of insurance perceived by respondents
8 Features of policy that attracted respondents
9 People perception about insurance
10 Number of respondents paying tax
11 Respondents investments for tax saving
12 Respondents perception about best form of investment forsecure future
13 People opinion about Indian Insurance Companies
14 What people look for in an insurance company
15 People planning for new investment
16 People interested in insurance despite service provider beingfar from the city
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LIST OF GRAPHS
Sr. No. Graph Name Page No.
1 Preference of Insurance Companies
2 Benefits of insurance perceived by respondents
3 Features of policy that attracted respondents
4 People perception about insurance
5 Number of respondents paying tax
6 Respondents investments for tax saving
7 Respondents perception about best form of investment forsecure future
8 People opinion about Indian Insurance Companies
9 What people look for in an insurance company
10 People planning for new investment
11 People interested in insurance despite service provider beingfar from the city
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EXECUTIVE SUMMARY
The PGP course offered by the MITSOL has its own unique syllabus which requires its PGP
students to undertake an internship with any of the leading business houses after the third
trimester. The purpose of this internship is to enable the students to appreciate and understand
the nuances of the practical world vis-a-vis the theoretical input administered during regular
academic sessions. This helps in creating Managers who are equipped with the experience of
linking the theoretical inputs with those of practical exposure and come out with creative
solutions / ideas in enhancing the business.
Reliance Life Insurance Company is amongst the first private life insurance company in
Insurance sector. Very soon it expanded its business through world class insurance advisors and
the company today is Indias no. 1 private life insurance company and overall second biggest
company after LIC in terms of no. of policies and services provided by the company. It is part of
Reliance Capital, a well known premier financial powerhouse of India.
Company ultimately wants to-
Understand the needs of customers and offering them superior products and service. Leveraging
technology to service customers quickly, efficiently and conveniently developing andimplementing superior risk management and investment strategies to offer sustainable and stable
returns to our policyholders
Providing an enabling environment to faster growth and learning for its employees and above all,
building transparency in all its dealings.
My profile in the company was to recruit advisors to build a team and to generate more and more
clients for the company.
Technique used is random sampling. On its basis certain recommendations have been provided
that can be helpful to Reliance Life Insurance in its near future.
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Chapter-1
INTRODUCTION
1.1 A brief history of the Insurance sector
The business of life insurance in India started 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:
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 business.
1956: 245 Indian and foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament 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 Trion
Insurances company ltd, the first general insurance company established in the year 1850
Calcutta by the By the British.
Some of the important milestones in the general insurance business in India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of
general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of
conduct for ensuring fair conduct and sound business practices.
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1968: the Insurance Act amended to regulate investments and set minimum solvency margins
and the Tariff Advisory Committee set up.
1972: the General Insurance Business (Nationalization) Act, 1972 nationalized the general
insurance business in India with effect form 1st January 1973.
Life insurance:
(Life Assurance in British English) is a type of insurance. As in all insurance, the insured
transfers a risk to the insurer, receiving a policy and paying a premium 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.
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 life insurance policy
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
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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, 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 either pay or deny the claim for proceeds. 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. Because the insured's death will be to the
financial betterment of the policy owner, the owner, by law, must have an insurable interest (i.e.,
a legitimate reason for insuring another persons life.)The insurer (i.e., life insurance company)
prices the policies 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.
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1.2 THE INSURANCE REGULATORY AND DEVELOPMENT
AUTHORITY (IRDA)
Formation of the IRDA:
In 1956, life insurance business was nationalized and Life Insurance Corporation of India was
formed on 1st September 1956. The government took over the business of 245 companies
operating in India, who were transacting life insurance business at that time. Thereafter LIC got
the exclusive privilege to operate in the life insurance business.
Thereafter as the markets began to grow more mature, especially the banks and the money
markets, the government again decided to open up the insurance sector to private players, this
time allowing even foreign insurance companies. But before this there had to be in place a
regulatory authority that would be independent and which would have supreme governing rights
on the different companies.
Thus in the year 1999, the Insurance Regulatory and Development Authority were formed
having the following scope:
To permit private companies to enter the insurance market
To protect the interests of the holders of insurance policies
To regulate, promote and ensure orderly growth of insurance industry.
Functions of the IRDA:
1. To issue certificate of registration, renew, withdraw, suspend or cancel such registration
2. To protect the interests of the policyholders/insured
3. To specify requisite qualifications, code of conduct, and training for insurance intermediaries
and life advisors
4. To promote efficiency in the conduct of insurance business
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5. To promote and regulate professional organizations connected with the insurance and
reinsurance business
6. To undertake inspection, conduct enquiries and investigations including audit of insurers and
insurance intermediaries
7. To control and regulate the rates, terms and conditions to be offered by the insurer regarding
general insurance business not so controlled by Tariff Advisory Committee
8 .To regulate investment of funds by insurance companies
9. To adjudicate disputes between insurers and intermediaries of insurance
10. To specify the percentage of life insurance business and general insurance business to be
undertaken in the rural or social sector
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1.3 MARKET PROFILE
Insurance is a RS.400 billion business in India and yet its spread in the country is relatively thin
insurance as a concept has not been able to make headway in India. Until recently L.I.C. enjoyed
a monopoly in life insurance business.
There is little option before the consumer to decide the insurer. A successful passage of I.R.D.A
bill had cleared the way of private sector operators in collaboration with there overseas partner in
2000. It is more professional and focused approach. Moreover the foreign players would bring
sophisticated actuarial techniques with them, which would facilitate the insurer to effectively
price the product. In this new millennium all these activities would play a crucial roll in over all
development and maturity of insurance industry.
Insurance business is growing in India. Even before the advent of the insurance development
regulatory authority and privatization on the insurance sector, insurance was a lucrative business
in India as was elsewhere life was full of risk and here was somebody who was willing to cover
some of it for nominal consideration. Business boomed, especially after nationalization on the
insurance sector in India after independence. But it is roses way for these vital sectors.
The insurance policy sales executives are really a welcome visitor to any house hold. In fact
many people consider him as the hard bringer of impending death, a gentle reminder to ultimate
realty waiting for each. One of us but ironically executives many working person would not have
head the dual pleasure of having his life covered and that the end of the cover period, getting
back a tidy sum as saving tax exemption and of course peace of mind. L.I.C. & Reliance Life
insurance has now reached a stage where people have started looking down upon you if you are
not adequately insured.
Today insurance is playing a role more than only covering a risk of life the education of children
and medical benefit of life to the women. So the insurance and specially the life insurance
corporation & other insurance companies are playing more a social role than only covering risk.
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INSURANCEMARKET
INSURANCE ISA RS. 400 BILLION BUSINESS IN INDIA, AND TOGETHER WITH BANKING
SERVICES ADDS ABOUT 7% TO INDIAS GAP. GROSS PREMIUM COLLECTION IS ABOUT
2% OF GAPANDHAS BEEN GROWINGBY 15%-20% PER ANNUM. INDIA ALSO HASTHE HIGHEST NUMBER OF LIFE INSURANCE POLICIES IN FORCE IN THE WORLD, AND
TOTALINVESTIBLEFUNDSWITH LIC AREALMOST 8% OF GDP .YETMORETHANTHREE-
FOURTH OF INDIAS INSURABLE POPULATION HAS NO LIFE INSURANCE OR PENSION
COVER .HEALTH INSURANCE OF ANY KIND IS NEGLIGIBLE AND OTHER FORMS OF NON-
LIFEINSURANCEAREMUCHBELOWINTERNATIONALSTANDARD.
INDIANSCENARIO:
UNFORTUNATELY THE CONCEPT OF INSURANCE IS NOT POPULAR IN OUR COUNTRY. AS
PER THE CONCEPT OF INSURANCE IS NOT POPULAR IN OUR COUNTRY .AS PER THE
LATEST ESTIMATE ,THE TOTAL PREMIUM INCOME GENERATED BY LIFE AND GENERAL
INSURANCE IN INDIA IS ESTIMATED AROUND A MANAGER 1.95% OF GDP .HOWEVER
INDIASSHAREOFWORLDINSURANCEMARKETHASSHOWNANINCREASEOF 10%FROM
0.31% IN 2004-2005 TO 0.34%IN 2005-2006 INDIAS MARKET SHARE IN THE LIFE
INSURANCE BUSINESS SHOWED A REAL GROWTH OF 11% THEREBY OUT PERFORMING
THE GLOBAL AVERAGE OF 7.7%NON LIFE BUSINESS GREW BY 3.1% AGAINST GLOBAL
AVERAGE OF 0.20% .IN INDIA INSURANCE SPENDING PER CAPITA WAS AMONG THE
LOWESTINTHEWORLDAT $7.6 COMPAREDTO $7 INTHEPREVIOUSYEAR . AMONGTHE
EMERGING ECONOMY, INDIA IS ONE OF THE LEAST INSURED COUNTRIES BUT THE
POTENTIALFORFURTHERGROWTHISPHENOMENAL, ASASIGNIFICANTPORTIONOFITS
POPULATIONISINSERVICEANDTHELIFEEXPECTANCYHASALSOINCREASEDOVERTHE
YEAR.
NEEDFORINSURANCE:-
MODERNLIFEINSURANCECENTERTOMULTIPLENEEDSFORINSURANCE, WHICHCANBE
BROADLYCLASSIFIEDASUNDER:
CASHANDINCOMENEEDSONANIMMEDIATELYFOLLOWINGDEATH.
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FAMILYINCOMENEEDS.
INCOMENEEDSOFAWIDOWONTHEDEATHOFHERHUSBAND.
CASHANDINCOMENEEDSOFAHUSBANDONTHEDEATHOFHISWIFE.
RETIREMENTINCOMENEEDS
EDUCATIONNEEDS.
WHATISACONTRACTOFINSURANCE?
A CONTRACT OF INSURANCE IS A CONTRACT OF UTMOST GOOD FAITH, TECHNICALLY
KNOWN AS UBERRIMA FIDES. THE DOCTRINE OF DISCLOSING ALL MATERIAL FACT IS
EMBODIED IN THIS IMPORTANT PRINCIPLE THAT APPLY TO ALL FORMS OF INSURANCE.
THEPROPOSER, WHOISONEOFTHEPARTIESTOTHECONTRACT ,ISPRESUMEDTOHAVE
MEANSOFKNOWLEDGE THATARENOTACCESSIBLETOTHECORPORATION WHOISTHE
ANOTHERPARTY TOTHECONTRACTTHEREFORETHEPROPOSESIS BOUNDTOTELLTHE
INSURER EVERYTHING AFFECTING THE JUDGMENT OF THE INSURER .IN ALL THECONTRACTOFINSURANCE THEPROPOSESISBOUNDTOMAKEFULLDISCLOSER OFALL
MATERIAL FACT AND NOT MERELY .THOSE WHO THINKS MATERIAL
MISREPRESENTATIONNON DISCLOSUREORFRAUD INANYDOCUMENTLEADINGTOTHE
ACCEPTANCE OF THE RISK AUTOMATICALLY DISCHARGES THE CORPORATION FROM
ALL LIABILITIES UNDER THE CONTRACT. ALTHOUGH SECTION 45 OF THE INSURANCE
ACT 1938 PROVIDES THAT NO POLICIES CAN BE CALLED IN QUESTION AFTER A PERIOD
OFTWOYEARSFROMTHEDATESOFITSISSUEONTHEGROUNDTHATANYSTATEMENTIN
PROPOSALORARELATEDDOCUMENTWASFALSEARE INACCURATE, THISPROVISION IS
NOT APPLICABLE IF THE CORPORATION CAN PROVE THAT MISS REPRESENTATION OR
NON-DISCLOSUREWAS
ONAMATERIALFACTANDWASFRAUDULENTLYMADEANDTHATTHEPOLICYHOLDER
KNEW AT THE TIME THAT STATEMENT HE MADE WAS FALSE. IT IS THEREFORE IF THE
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INTEREST OF THE POLICYHOLDER TO DISCLOSE ALL THE MATERIAL FACT TO THE
CORPORATIONTOAVOIDANYCOMPLICATIONWHENTHECLAIMARISES. ITISEQUALLY
OBLIGATORYONANAGENTTOSEETHATTHEASSUREDDOESNTOBTAINTHECONTRACT
BYMEANSOFUNTRUEREPRESENTATION .ITISTHEDUTYTHATTHATAGENTOWESBOTH
TOHISCLIENTANDTOTHECORPORATION.
CLASSIFICATIONOFINSURANCEBUSINESS:
THEINSURANCEISBROADLYCLASSIFIEDAS:
1) LIFEINSURANCEBUSINESS.
2) NONLIFEINSURANCEBUSINESS
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LIFEINSURANCEBUSINESS:
IT IS THE BUSINESS OF AFFECTING CONTRACTS OF INSURANCE UPON HUMAN LIFE
INCLUDING ANY CONTRACT WHEREBY THE PAYMENT OF MONEY IS ASSURED ON DEATH
ORONTHEHAPPENINGOFANYCONTINGENCYTOTHEDEPENDENTOFPREMIUM FORA
TERMANDSHALLBEDEEMEDTOINCLUDE:
THE GRANTING DISABILITY AND DOUBLE N TRIPLE INDEMNITY ACCIDENT
BENEFIT, IFSOPROVIDEDINTHECONTRACTOFINSURANCE.
THEGRANTINGOFANNUITIESOFHUMANLIFE.
THEGRANTINGOFSUPERANNUATIONALLOWANCEANDANNUITIESPAYABLEOUT
OF ANY FUND APPLICABLE SOLELY TO THE RELIEF AND MAINTENANCE OF THE
PERSON ENGAGED OR WHO HAVE BEEN ENGAGED IN ANY PARTICULAR
PROFESSION, TRADEOREMPLOYMENTOROFTHEDEPENDENTSOFSUCHPERSONS.
NONLIFEINSURANCEBUSINESS:
CONVENTIONALCLASSIFICATIONOFINSURANCEBUSINESS:
FIREINSURANCE
MARINEINSURANCE
MISCELLANEOUSINSURANCE (ACCIDENT)
MODERNCLASSIFICATIONOFGENERALINSURANCE:-
INSURANCEOFPERSON
INSURANCEOFPROPERTY
INSURANCEOFINTEREST
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ANACTTOPROVIDEFORESTABLISHMENTOFANAUTHORITYTOPROTECTTHEINTEREST
OF POLICY HOLDER, TO REGULATE TO PROMOTE AND ENSURE ORDERLY GROWTH OF
INSURANCE INDUSTRYANDFORTHEMATTERCONNECTEDTHEREWITHFORINCIDENTAL
THERETOANDFURTHERTOAMENDTHELIFEINSURANCECORPORATIONACT, 1956 AND
THEINSURANCEACT, 1938 ANDGENERALINSURANCEBUSINESSACT 1972.
SPREAD LIFE INSURANCE MUCH MORE WIDELY AND IN PARTICULAR TO THE RURAL
AREAS ANDTOTHESOCIALLY ANDECONOMICALLY BACKWARDCLASSESWITHAVIEW
TO REACHING ALL INSURABLE PERSON IN THE COUNTRY AND PROVIDING ADEQUATE
FINANCIALCOVERAGAINSTDEATH ATREASONABLE COST.
MAXIMIZEMOBILIZATIONOFPEOPLESSAVINGBYMAKINGINSURANCELINKEDSAVING
ADEQUATELYATTRACTIVE.
BEAR IN MIND ,IN THE INVESTMENT OF THE FUND ,THE PRIMARY OBLIGATION TO ITS
POLICYHOLDER, WHOSE MONEYITSHOLDINTRUST ,WITHOUTLOOSINGSIGHTOFTHE
INTEREST OF THE COMMUNITY AS WHOLE, THE FUNDS TO BE DEPLOYED TO THE BEST
ADVANTAGE OF THE INVESTORSAS WELLAS TOCOMMUNITYASAWHOLE ,KEEPING IN
VIEW NATIONAL PRIORITIESANDOBLIGATIONSOFATTRACTIVERETURN.
CONDUCT BUSINESS WITH UTMOST ECONOMY AND WITH THE FULL OF REALIZATION
THATTHEMONEYBELONGSTOTHEPOLICYHOLDER.
ACT AS TRUSTEES OF THE INSURED PUBLIC IN THEIR INDIVIDUAL AND COLLECTIVE
CAPACITIES. MEET THE VARIOUS LIFE INSURANCE NEEDS OF THE COMMUNITY WOULD
ARISE IN THE CHANGINGSOCIAL AND ECONOMIC ENVIRONMENT. INVOLVE ALL PEOPLE
WORKING IN THE CORPORATION TO THE BEST THEIR CAPABILITY IN FURTHERING THE
INTERESTOFTHEINSUREDPUBLICBYPROVIDINGEFFICIENTSERVICEWITHCOURTESY.
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Some of the important milestones in the general insurance business in India are:
1907: TheIndian Mercantile Insurance Ltd. set up, the first company to transact all classes of
general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India, frames a code
of conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum solvency margins
and the Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalization) Act, 1972 nationalize the general
insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and
grouped into four companies viz. the National Insurance Company Ltd., the New India
Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India
Insurance Company Ltd. GIC incorporated as a company.
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1.4 COMPANY PROFILE
Founder of RelianceFew men in history have made as dramatic a contribution to their countrys economic fortunes as
did the founder of Reliance,Shri. Dhirubhai H Ambani. Fewer still have left behind a legacy
that is more enduring and timeless.
As with all great pioneers, there is more than one unique way of describing the true genius of
Dhirubhai:
The corporate visionary, the unmatched strategist, the proud patriot, the leader of men, the
architect of Indias capital markets, and the champion of shareholder interest.
But the role Dhirubhai cherished most was perhaps that of Indias greatest wealth creator. In one
lifetime, he built, starting from the proverbial scratch, Indias largest private sector enterprise.
When Dhirubhai embarked on his first business venture, he had a seed capital of barely US$ 300
(around Rs 14,000). Over the next three and a half decades, he converted this fledgling enterprise
into a Rs 60,000 crore colossusan achievement which earned Reliance a place on the global
Fortune 500 list, the first ever Indian private company to do so.
Dhirubhai is widely regarded as the father of Indias capital markets. In 1977, when Reliance
Textile Industries Limited first went public, the Indian stock market was a place patronized by a
small club of elite investors which dabbled in a handful of stocks.
Undaunted, Dhirubhai managed to convince a large number of first-time retail investors to
participate in the unfolding Reliance story and put their hard-earned money in the Reliance
Textile IPO, promising them, in exchange for their trust, substantial return on their investments.
It was to be the start of one of great stories of mutual respect and reciprocal gain in the Indian
markets.Under Dhirubhais extraordinary vision and leadership, Reliance scripted one of the
greatest growth stories in corporate history anywhere in the world, and went on to become
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Indias largest private sector enterprise.Through out this amazing journey, Dhirubhai always kept
the interests of the ordinary shareholder uppermost in mind, in the process making millionaires
out of many of the initial investors in the Reliance stock, and creating one of the worlds largest
shareholder families.
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Overview
The Reliance Anil Dhirubhai Ambani Group is among Indias top three private sector business
houses on all major financial parameters, with a market capitalization of Rs.325,000 crores (US$81 billion), net assets in excess of Rs.115,000 crores (US$ 29 billion), and net worth to the tune
of Rs.55,000 crores (US$ 14 billion)
Across different companies, the group has a customer base of over 100 million, the largest in
India, and a shareholder base of over 12 million, among the largest in the world.
Through its products and services, the Reliance - ADA Group touches the life of 1 in 10 Indians
every single day. It has a business presence that extends to over 4,500 towns and 300,000villages in India, and 5 continents across the world.
The interests of the Group range from communications (Reliance Communications) and financial
services (Reliance Capital Ltd), to generation, transmission and distribution of power (Reliance
Energy), infrastructure and entertainment.
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1.4.1 VISION AND MISSION
Vision
To build a global enterprise for all our stakeholders and a great future for our country.
To give millions of young Indians the power to shape their destiny.
The means to realize their full potential.
Empowering everyone live their dreams.
Mission
Create unmatched value for everyone through dependable, effective, transparent, effective,
transparent and profitable life insurance and pension plans.
1.4.2 GOAL
Reliance 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
Values
SHAREHOLDER INTEREST
PEOPLE CARE
CONSUMER FOCUS
EXCELLENCE IN EXECUTION
TEAM WORK
PROACTIVE INNOVATION
LEADERSHIP BY EMPOWERMENT
http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#1http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#2http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#3http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#4http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#5http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#6http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#7http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#2http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#3http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#4http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#5http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#6http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#7http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#1 -
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SOCIAL RESPONSIBILITY
RESPECT FOR COMPETITION
SHAREHOLDER INTEREST
We value the trust of shareholders, and keep their interests paramount in every business decision
we make, every choice we exercise
PEOPLE CARE
We possess no greater asset than the quality of our human capital and no greater priority than the
retention, growth and well-being of our vast pool of human talent
CONSUMER FOCUS
We rethink every business process, product and service from the standpoint of the consumer so
as to exceed expectations at every touch point
EXCELLENCE IN EXECUTION
We believe in excellence of execution in large, complex projects as much as small everyday
tasks. If something is worth doing, it is worth doing well.
TEAM WORK
The whole is greater than the sum of its parts; in our rapidly-changing knowledge economy,
organizations can prosper only by mobilizing diverse competencies, skill sets and expertise; by
imbibing the spirit of thinking together -- integration is the rule, escalation is an exception
PROACTIVE INNOVATION
We nurture innovation by breaking silos, encouraging cross-fertilization of ideas & flexibility of
roles and functions. We create an environment of accountability, ownership and problem-solving
based on participative work ethic and leading-edge research
http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#8http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#9http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#8http://www.relianceadagroup.com/adportal/ADA/aboutus/group_value.html#9 -
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LEADERSHIP BY EMPOWERMENT
We believe leadership in the new economy is about consensus building, about giving up control;
about enabling and empowering people down the line to take decisions in their areas of operation
and competence.
SOCIAL RESPONSIBILITY
We believe that organizations, like individuals, depend on the support of the community for their
survival and sustenance, and must repay this generosity in the best way they can
RESPECT FOR COMPETITION
We respect competition because theres more than one way of doing things right. We can learn
as much from the success of others as from our own failures
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1.4.3 ACHIEVEMENTS
RLIC has been one of the fast gainers in market share in new business premium
amongst the private players with an incremental market share of 4.1% in the Financial
Year 2007-08 from 3.9% in April 07 to 8% in Feb 08. ( Source: IRDA)
Also continues to be amongst the fast growing Private Life Insurance Companies
with a YOY growth of195% in new business premium as of Mar08.
A Company that has crossed 1.7 Million policies in just 2 years of operation, post take
over of AMP Sanmar business.
Initiated Express Life an Unique Over the Counter sales process for Unit Linked
Insurance Policies in the Industry.
Accomplished a large distribution ramp-up in the Industry in a short span of time by
opening 600 branches in 10 months taking the overall branch network above 740.
RLIC continues to be one of the two Life Insurance companies in India to be certified
ISO 9001:2000 for all the processes.
Awarded the Jamnalal Bajaj Uchit Vyavahar Puraskar 2007- Certificate of Merit in
the Financial Services category by Council for Fair Business Practices (CFBP).
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LEADERSHIP TEAM
Board of Directors
Sr. No. Name Designation
1. Gautam Doshi Director
2. Satya Pal Talwar Director
3. Saumen Gosh Group President
4. P Nandgopal CEO
5. Malay Gosh Deputy CEO
6. Maneesha Thakur Chief Human Resources Officer
7. Rajesh Bahl Sr VP-Legal & Chief Financial Officer
8. Pournima Gupte Appointed Actuary
9. C Mohan Chief Technology Officer
10. R Rangarajan Chief Investment Officer
11. S V Sunder Krishnan Chief Risk Officer
12. Saroj K Panigrahi Head-Legal, Compliances & Company Secretary
1.5 PRODUCT PROFILE
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RELIANCE LIFE INSURANCE PRODUCTS
Protection Plans
In todays uncertain world, there could be calamity at every step of the life. It is up to you to
ensure that your family stays protected always.
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Child Plans
Being a parent is one of the joys of life. Your child looks up to you and depends on you for love,
protection and support. You want to provide your child with the best in life.
The Reliance Child Plan helps you save systematically so that you can secure your childs future
needs. Be it higher education, his or her first home or any other requirement, you will always be
there for your child when he or she needs you.
So, invest in a Reliance Child Plan right awayit is the best gift you could ever give
your child.
Some of the Child Plans are:-
Sr. No. Name of the plan
1 Reliance Super Invest Assure Plan
2 Reliance Child Plan3 Reliance Wealth + Health Plan4 Reliance Secure Child Plan
http://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/SuperInvestAssure/SuperInvestAssure.aspx?from=Savings%20%26%20Investment%20Plan&path=SavingsnInvestmentPlan/savings_n_investment_plan.aspxhttp://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/ChildPlan/RCP_reliance_child_plan.aspx?from=Child%20Plans&path=ChildPlans/child_plan.aspxhttp://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/WealthHealth/RWHP_reliance_wealth_health_plan.aspx?from=Child%20Plans&path=ChildPlans/child_plan.aspxhttp://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/SecureChildPlan/RSCP_reliance_secure_child_plan.aspx?from=Child%20Plans&path=ChildPlans/child_plan.aspxhttp://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/SuperInvestAssure/SuperInvestAssure.aspx?from=Savings%20%26%20Investment%20Plan&path=SavingsnInvestmentPlan/savings_n_investment_plan.aspxhttp://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/ChildPlan/RCP_reliance_child_plan.aspx?from=Child%20Plans&path=ChildPlans/child_plan.aspxhttp://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/WealthHealth/RWHP_reliance_wealth_health_plan.aspx?from=Child%20Plans&path=ChildPlans/child_plan.aspxhttp://www.reliancelife.com/RLIC/Products/SolutionsforIndividuals/Plans/SecureChildPlan/RSCP_reliance_secure_child_plan.aspx?from=Child%20Plans&path=ChildPlans/child_plan.aspx -
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1.6 OBJECTIVE AND SCOPE OF THE STUDY
Objective of the study:
To study the sales strategy of field force of Reliance Life Insurance.
To study the process of selling of Insurance policies by Advisors.
To know client behavior and deal with clients.
To generate clients for company through a team of Advisors and insurance consultants.
To increase the market value of the company through product promotion.
Quick rollout of products.
Scope of the study:
At the present time of cutthroat competition in every industry, every company want to top the
chart and want to show as big as possible figure of profits in its balance sheet. It is quite clear
today that at present time the growth of any organization is possible only with the help of
hardworking and well focused staff that are the backbone of any organization.
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It was my great pleasure that I completed my summer training from Reliance Life Insurance where
I got to know that in insurance industry the skills of the manpower matters most and increasing
number of insurance consultants help the organization to increase its policies which in turn result
in growth for the organization.
Chapter-II
RESEARCH METHODOLOGY
Research is an organized inquiry designed and carried out to provide information to solve the
problem. Research is the process of systematically obtaining accurate answer to significant
pertinent questions by the use of gathering data, interpretation and work.
Research methodology is a way to systematically solve the research problem. Research
methodology constitutes of research methods, selection criterion of research methods, used in
context of research study and explanation of using of a particular method or technique so that
research results are capable of being evaluated either by researcher himself or by others. Why a
research study has been undertaken, how the research problem has been formulated, why data
have been collected and what particular technique of analyzing data has been used and a best of
similar other question are usually answered when we talk of Research methodology concerning a
research problem or study. The main aim of research is to find out the truth which is hidden and
which has not been discovered as yet.
2.1 RESEARCH DESIGN
Exploratory & Descriptive Experimental Research
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The research is primarily both Exploratory as well as Descriptive in nature. The sources of
information are both primary & secondary.
A well-structured questionnaire was prepared and personal interviews are conducted to collect
the customers perception and buying behavior, through this questionnaire
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2.2 SAMPLING METHODOLOGY
2.2.1 Sampling Technique:Initially, a rough draft was prepared keeping in mind the objective of the research. A pilot study
was done in order to know the accuracy of the Questionnaire. The final Questionnaire was
arrived only after certain important changes were done. Thus my sampling came out to be
Random Sampling.Random Sampling.
2.2.2 Sampling Unit:
The respondents who were asked to fill out questionnaires are the sampling units. These
comprise of employees of MNCs, Govt. Employees, and Self Employed etc.
2.2.3 Sample size:
The sample size was restricted to only 100, which comprised of mainly people from different
regions of Pune due to time constraints.
2.2.4 Sampling Area:
The area of the research was Aundh, Kothrud, Hinjewadi (Pune), India.
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2.3 INSTRUMENT FOR DATA COLLECTION
To know the response, I have used the questionnaire method. If one wishes to find what
insurance care consultants think or know, the logical procedure is to ask them. This has led
marketing researchers to use the questionnaire technique for collecting data more than any other
method.
In this method questionnaire were distributed to the respondents and they were asked to answer
the questions in the questionnaire. The questionnaire were structured non disguised questionnaire
because the question which the questionnaire contained, were arranged in a specific order
besides every question asked were logical for the study, no question can be termed as irrelevant.
The questionnaire was non-disguised because the questionnaire was constructed so that the
objective is clear to the respondent. The respondents were aware of the objective. They knew
why they were asked to fill the questionnaire.
With the help of following techniques, which are using by Reliance Life Insurance, I analyze that
the how techniques of sales promotion are useful.
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2.4 DATA COLLECTION SOURCES
2.4.1 PRIMARY DATA SOURCES
Through interaction with insurance care consultant
Through questionnaires filled from the insurance care consultant.
2.4.2 SECONDARY DATA SOURCES:
Through internet, various official sites of the companies.
Through pamphlets and brochures of the companies.
Journals & Magazines.
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2.5 LIMITATIONS OF THE STUDY
1. The research is confined to a certain parts of Pune and does not necessarily shows a
pattern applicable to all of Country.
2. The study was conducted in Reliance Life Insurance in Pune city. The sample size was
of 100 only so that accuracy of data so collected could be absurd covered by circulation
of questionnaire.
3. The accuracy of indications given by the respondents may not be consider adequate as
whether the language used in the questionnaire is understood by the respondent cannot be
taken for granted.
4. The study is based on the information gathered from the different policyholders.Therefore in such case it is possible that the information supplied might be biased
because the policyholders might have shown partiality towards different insurance
policies.
5. Since the survey was limited to 100, it is rather difficult to give a precise conclusion but I
have tried to the best of my capability to give the conclusion on a comprehensive manner.
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Chapter-III
DATA ANALYSIS AND INTERPRETATION
DATA GIVES PREFERENCE OF RESPONDENTS OF INSURANCE COMPANIES
COMPANYS NAMENO.OF
RESPONDENT
SHARE (%)
L.I.C. 78 78
RELIANCE LIFE
INSURANCE10 10
ICICI PRUDENTIAL 3 3
SBI LIFE 7 7
HDFC 2 2
TOTAL 100 100
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INTERPRETATION
78% of the people contacted prefer LIC policy to any other and therefore it is ranked no.1
by that percent of respondents.
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DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY
RESPONDENTS
BENEFITSNO.OF
RESPONDENTSSHARE (%)
Cover Future Uncertainty 55 55
Tax Deductions 20 20
Future Investment 25 25
TOTAL 100 100
INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest benefit of
an insurance policy.
Whereas, 20% and 25% of them believe that the other benefits are Tax deduction and
future investments respectively.
55%20%
25%Cover FutureUncertainty
Tax Deductions
Future Investment
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DATA PROVIDES FEATURES OF INSURANCE POLICY THAT
ATTRACTED RESPONDENTS
FEATURE NO.OF
RESPONDENTS
SHARE (%)
Money Back Guarantee 15 15
Larger Risk Coverance 37 37
Easy Access to Agents 7 7
Low Premium 30 30
Companys Reputation 11 11
TOTAL 100 100
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INTERPRETATION
Majority of the respondent (37%) found larger risk coverance as the most attracted feature of
the all.
DATA GIVES PEOPLE PERCEPTION ABOUT INSURANCE
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
A saving tool 81 81%
A tax saving device 74 74%
A tool to protect your family 100 100%
INTERPRETATION
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81% of the respondents have perception of Insurance being a saving tool.
And 74% of the respondents have perception of Insurance being a tax saving device.
But 100% of the respondents are with the view that Insurance is a tool to protect
your family.
DATA SHOWS NUMBER OF RESPONDENTS PAYING TAX
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
Paying tax 100 100%
Not paying tax - 0%
Total 100 100%
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INTERPRETATION
Of the sample size of 100 respondents, all the respondents are paying tax.
DATA SHOWS RESPONDENTS INVESTMENTS FOR TAX SAVING
INVESTMENTS NO. OF
RESPONDENTS
SHARE (%)
LIC 51 51%
NSC 33 33%
Bonds 32 32%
PPF 25 25%
PF 21 21%
100%
0%
Paying tax Not paying tax
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EPF 11 11%
INTERPRETATION
51% of the respondents save their tax by investing in LIC, which is the highest
among all Investment. This shows that most people for getting taxes benefits invest
in LIC.
33.25% of the respondents do their tax saving by investing in NSC.
32.25% of the respondents to their tax saving by investing in bonds.
DATA SHOWS RESPONDENTS PERCEPTION ABOUT BEST FORM OF INVESTMENT
FOR SECURING THEIR FUTURE
NO. OF
RESPONDENTS
SHARE (%)
Fixed Assets 75 75%
51
3332
25
21
11
LIC NSC BOND PPF PF EPF
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Bank deposits 11 11%
Jewellery 25 25%
Securities i.e. bonds, MFs 40. 40%
Shares 10 10%
Insurance 70 70%
INTERPRETATION
75.25% of the respondents as with the view that Fixed Assets is the best form of
investment for securing their future.
70.5% of the respondents are with the perception that Insurance is the best form of
investment for securing their future, which is one of the highest and this shows that
insurance is an important key for securing your future.
DATA SHOWS PEOPLE OPINION ABOUT INDIAN INSURANCE COMPANIES
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
75
11
2540
10
70
Fixed Assets
Bank deposits
Cash & Jewellery
Securities i.e.bonds, MFs
Shares
Insurance
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Rigid plans 67 67%
Non user friendly 29 29%
Unsatisfactory services 26 26%
Non Aggressive 35 35%
Satisfactory 24 24%
Good 10 10%
Very good 0 0%
INTERPRETATION
67% of the respondents have the opinion that Indian Insurance Companies have Rigid plans.
29.5% feel that Indian Insurance companies are Non-user friendly.
26.5% feel that services of Indian Insurance companies are Unsatisfactory.
35.75% of the respondents are with the view that Indian Insurance companies are Non-
aggressive.
24% of the respondents feel that products and services of Indian Insurance companies is
Satisfactory.
Whereas only 10.25% feel that it is good enough.
67
2926
33
24 10
0
Inflexible plans Non user friendly
Unsatisfactory services Non Aggressive
Satisfactory Good
Very good
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DATA SHOWS PEOPLE PLANNING FOR NEW INVESTMENTS
RESPONSE NO. OF RESPONDENTS SHARE (%)
Planning 87 87%
Not planning 13 13%
Total 100 100%
INTERPRETATION
Only 12.5% of the customers contacted are not planning for new investments presently.
Whereas, 87.5% of the customers are still planning for new investments this can be a great potential
for Reliance Life Insurance to take them on their favor.
87.0%
13.0%
Planning Not planning
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DATA SHOWS PEOPLE INTERESTED IN GOING FOR INSURANCE IF A SERVICE
PROVIDER AWAY FROM THE CITY OFFERS BETTER SERVICE & PRODUCTS
RESPONSE NO. OF
RESPONDENTS
SHARE (%)
Yes 43 43%
No 44 44%
Uncertain 13 13%
Total 100 100%
INTERPRETATION
The interested customers i.e. 43% are ready to go for insurance even away from a city if services and
products are worthwhile, which again is a good prospect (potential) for Reliance Life Insurance to
take them on their favor.
43%
44%
13%
Yes No Uncertain
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Chapter-IV
FINDINGS
For me the product promotion process was very much satisfying not only practically and
academically but it also helped me in developing my communication skill and enriched
my knowledge also.
I have come to know about the importance of marketing especially with regard to Product
Promotion on the most renowned organization like Reliance Life Insurance. Especially
because of emergence of many competitor with excellence in services & competitive
product. The base of this chapter conclusion is on the data analysis or what we say
findings.
According to the findings, most of the customers are planning for new investment.
Especially they are looking for a trusted name and if the products are good then they are
ready to invest despite a service provider is away from the city.
Most of the respondents think that Fixed Assets are the best form of investment for
securing their future.
Majority of the respondents perceive Insurance as a Saving Tool.
Finding says that low premium is the feature that attracts a person the most.
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Chapter-V
CONCLUSION
The company faces a large amount of competition. To sustain itself it must promote its products
through advertising and improve its selling techniques. Consumers must be aware of the new
plans available at Reliance Life Insurance Co.Ltd.
The medium of advertising used could be television since most of its competitors use this tool to
promote their products. The company must be promoted as an Indian company since consumer
seem to have more trust in investing in Indian firms.
The Unit linked concept must be specifically promoted. The general perception of life insurance
has to change in India before progress is made in this field. People should not be afraid to invest
money on insurance and must use it as an effective tool for tax planning and long term saving.
Reliance Life Insurance co. Ltd. could tap the rural markets with cheaper products and smaller
policy terms. There are individuals who are willing to pay small amounts as premium but the
plans do not accept premium below a certain amount. It was usually found that a large number of
males were insured compared to females. Individual below the age of 30(mostly male) were
interested in investment plans. This was a general conclusion drawn during prospecting clients.
Chapter-VI
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RECOMMENDATIONS
As the people think that insurance is a tool to protect their family & a tax saving device.
They are aware of the fact & realizing its, importance. The company should try to expand &
build up its infrastructure because there is a large potential for insurance in India.
Company should come up with its branch in rural areas, with the objective and goals to meet
the demands & expectations of the public. Because the entrance of private players will increase
the competition and it would be a tough task to secure a good position in market.
Since Reliance Life Insurance is one of leading company in insurance sector therefore it
should be easy for them to penetrate into the market and secure a good position if they pay
greater attention to the service part provided to their customer and thereby forming a long and
trusted relationship.
As seen from the survey that at present 70% of the customer are having insurance policy out
of which 87% of the customer are planning for new investments. So it can be a good potential for
the company and they should make an attempt to trap these customers.
43% of the customer is even ready to go for insurance if a service provider away
from their home is providing it. But intend they should provide good products and services. The
company should try to convince these customers and get them in its favor.
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Chapter-VII
BIBLIOGRAPHY
1.) Books Referred
Kothari C. R.: Research Methodology (2004), New Age Publication
2.) Websites Referred
www.reliancelife.co.in
www.moneyoutlook.com
www.insurance.ind.com
http://www.reliancelife.co.in/http://www.moneyoutlook.com/http://www.insurance.ind.com/http://www.reliancelife.co.in/http://www.moneyoutlook.com/http://www.insurance.ind.com/ -
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ANNEXURE
(A) QUESTIONNAIRE
NAME: _________________________
ADDRESS: ______________________
______________________________
OCCUPATION: ___________________
ARE YOU EMPLOYED?
YES NO
DO YOU HAVE ANY INSURANCE POLICY?
YES NO
WHICH COS INSURANCE POLICY YOU PREFER THE MOST?
(RANK THEM)
a) LIC
b) ICICIPRUDENTIAL
c) SBI LIFE INSURANCE
d) ING VYSYA LIFE
e) RELIANCE LIFE INSURANCE
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f) TATA AIG LIFE
g) ANY OTHER ________ (Specify)
WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE COVER?
(RANK THEM)
a) COVER FUTURE UNCERTAINITY
b) TAX DEDUCTIONS
c) FUTURE INVESTMENT
d) ANY OTHER _________ (Specify)
WHICH FEATURE OF YOUR POLICY ATTRACTED YOU TO BUY IT?
(RANK THEM)
a) LOW PREMIUM
b) LARGER RISK COVERANCE
c) MONEY BACK GUARNTEE
d) REPUTATION OF COMPANY
e) EASY ACCESS TO AGENTS
f) ANY OTHER _________ (Specify)
YOUR MONTHLY INCOME?
a)
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WHATS YOUR PERCEPTION ABOUT INSURANCE?
(RANK THEM)
a) A SAVING TOOL
b) A TAX SAVING DEVICE
c) A TOOL TO PROTECT FUTURE
DO YOU PAY TAXES?
YES NO
WHERE HAVE YOU INVESTED FOR TAX SAVING?
(RANK THEM)
a) LIC
b) NSC
c) BONDS
d) PPF
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e) PF
f) EPF
WHICH IS THE BEST FORM OF INVESTMENTS?
(RANK THEM)
a) FIXED ASSETS
b) BANK DEPOSITS
c) JEWELLERY
d) SECURITIES, i.e. Bonds, MFs
e) SHARES
f) INSURANCE
HOW WOULD YOU RATE INDIAN INSURANCE COs?
a) RIGID PLANS
b) NON-USER FRIENDLY
c) UNSATISFATORY SREVICES
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d) NON-AGGRESSIVE
e) SATISFACTORY
f) GOOD
g) VERY GOOD
WHATWOULD YOU LOOK FOR IN AN INSURANCE COs?
(RANK THEM)
a) A TRUSTED NAME
b) FRIENDLY SERVICE & RESPONSIVENESS
c) GOOD PLANS
d) ACCESSIBILITY
ARE YOU PLANNING FOR NEW INVESTMENTS?
PLANNING NOT PLANING
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WOULD YOU GO FOR INSURANCE IF A SERVICE PROVIDER AWAY FROM THE
CITY OFFERS BETTER SERVICE & PRODUCTS?
a) YES
b) NO
c) UNCERTAIN
THANK YOU