marketing study report

8/12/2019 marketing study report

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A CONCEPTUAL STUDY OF BUSINESS MANAGEMENT AND

ORGANIZATION SYSTEM

SUBMITTED BY

PARTHA PRATIM GAUTAM

Reg No. 08KUCM6037

Under the guidance of

Prof. Ravi Shankar

Excel Business Academy

Ullal Main Road

Bangalore


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STUDENT DECLARATION

I hereby declare that the project report entitled a conceptual study of business management

and organization system Apollo Munich Health Insurance Company Limited. Bangalore has

been done by me under the guidance of Prof. Ravi Shankar, Professor MBA & PGPM, Excel

Business Academy, Bangalore. This project report has been submitted to Excel Business

Academy, Bangalore as a part of partial fulfillment for the award of the degree of Post Graduate

Program in Management from Excel Business Academy, Bangalore.

I also hereby declare that this project report has not been submitted at any time to any other

institute or university for the award of any degree.

Place: Bangalore

Date: Partha Pratim Gautam


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CERTIFICATE BY GUIDE

This is to certify that Partha Pratim Gautam bearing Reg no. 08KUCM6037, a student of 1st

semester MBA and PGPM during the academic year 2010-2012 has successfully completed the

project report a conceptual study of business management and organization system

Apollo Munich Health Insurance Company Ltd.Under the guidance of Prof. Ravi Shankar,

Professor, Excel Business Academy, in partial fulfillment for the award of Post Graduate

Program in Management from Excel Business Academy, Bangalore.

His character and conduct was good during the study.

Place: Bangalore

Date: Prof. Ravi Shankar


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ACKNOWLEDGEMENT

The satisfaction and euphoria that accompany the successful completion of any task would be

but incomplete without the mention of the people who made it possible, whose constant guidance

and encouragement crowned our efforts with success.

I consider it my privilege to express gratitude and thanks to the ManagementExcel Business

Academy, Bangalore for giving me the opportunity to conduct this study.

I thank our Principal Prof. Thejaswi Naviloor, for the encouragement and intellectual influence

during the course of the project work.

I wish to express my heartfelt gratitude to Prof. Gurutej, HeadPGPM & Techno Management

Studies; Prof. Shreya K Rao, HeadMBA & TPD and my Project Guide Prof. Ravi Shankar

for their help and able guidance for the completion of the project successfully.

I am grateful to the Librarian of Excel Business Academy, for his support during my study.

Last but not the least, I would also like to thank each and everyone especially all my friends for

their cordiality & support during my project.

Date:

Place: Bangalore Partha Pratim Gautam


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TABLE OF CONTENTS

CHAPTER

NO.

CONTENTS PAGE

NO.

1 1.1 Meaning of Business

1.2 Meaning of Management

1.3 Meaning of Business Administration

1.4 Difference between Business Management & Business

1.5 Difference between Business Management & Business

Administration

1.6 Types of Business

2 Organizational System (General Study)

2.1 Meaning of Organization

2.2 Types of Organization

2.3 Types of Ownership

2.4 Vision, mission & Goals of the company

2.5 Organization Structure & its Types

2.6 Functional PatternsPeople, policies, systems, problems ifany.

2.7 SWOT Analysis

3 Organizational System with respect to Apollo Munich Health

Insurance Company Ltd.

3.1 Introduction

3.2 Type of Organization

3.3 Type of Ownership

3.4 Vision, Mission & Goals of the company

3.5 Organizational Structure & Type

3.6 Functional Patterns3.7 SWOT Analysis

4 Summary of Findings & Conclusion

4.1 Findings

4.2 Conclusion

5 Bibliography

6 Annexure


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LIST OF TABLES AND CHARTS

TABLE CONTENTS PAGE

NO.

1

2

34

5

6

7


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Executive summary

The new millennium saw the dawn of many developments and changes in

insurance industry. In the backdrop of this challenging market scenario it was

thought to be befitting to undertake a project study on customer awareness and

satisfaction towards the financial products, with special reference to pension plans.

Among the competitive and complex market scenario in India, it is difficult to

analyze the changing attitudes, likes, dislikes and satisfactory levels of customers.

The field is such that only the enduring and most outstanding will survive without

being choked. The attempt here is made to assess the awareness and preference of

people in a pension schemes.

On the outset itself the problem was identified and defined with the help ofconvince sampling. The researcher carried out this survey keeping in mind the

need and importance of the proposed study. This has enabled the researcher to

easily determine the scope and objectives of this study. A descriptive approach was

considered ideal for the study as it entailed the ever-changing opinion of the

customers.

Survey has been successfully carried on among 100 respondents. They were

considered adequate to represent the entire characteristic of the population in

vogue. Primary data was collected using structured questionnaire as an effective

instrument. The collected data was tabulated for the purpose of consolidation and


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logicality and the same was analyzed and interpreted in a judicious way to

facilitate systematic progression of the subject matter of the study.

The findings were taken up for drawing logical conclusions. Based on the findings

suitable suggestions and recommendations were brought out for the tangible

benefits of both the company and the dealer. The entire project is presented in the

form of a comprehensive study report using a chapter scheme developed logically

and sequentially in a systematic and orderly manner from the beginning to the end.

The respondents were presented with a well-structured questioner as a part of the

survey method, which was easy to fill up. The main source of data were the

questioner and other relevant business magazines books and broachers of the

companies providing pension plans.

Human life is an income-generating asset. This asset can be lost through the

unexpected death or mad nonfunctional through sickness or disability caused by

an accident, disability to earn because of age. It is certain that some day one will

have to stop working and as a result no income to sustain.

Insurance companies on the one hand help the individual in securing their life &

on the other hand sustain their position in the competitive market. Insurance

reduces the impact of old age & those who depend on the income generated by

the individual. It must however be noted, only economic or financial losses can be

compensated and the emotional support that the breadwinner provides can

neither be evaluated nor compensated.


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MEANING OF BUSINESS

A bus iness (also kn own as a com pany, enterpr ise, and f i rm) is a legally

recognizedorganization designed to providegoods orservices,or both, toconsumers,

businesses and governmental entities. Businesses are predominant

incapitalisteconomies.Most businesses areprivately owned.A business is typically

formed to earnprofit that will increase thewealth of its owners and grow the business

itself. The owners and operators of a business have as one of their main objectives the

receipt or generation of afinancial returnin exchange forwork and acceptance ofrisk.

Notable exceptions includecooperative enterprises andstate-owned enterprises.

Businesses can also be formednot-for-profit or bestate-owned.

Theetymology of "business" relates to the state of being busy either as an individual or

society as a whole, doing commercially viable and profitable work. The term "business"

has at least three usages, depending on the scope the singular usage (above) to

mean a particularcompany orcorporation,the generalized usage to refer to a

particularmarket sector,such as "the music business" and compound forms such

asagribusiness,or the broadest meaning to include all activity by the community of

suppliers of goods and services. However, the exact definition of business, like much

else in thephilosophy of business,is a matter of debate and complexity meanings.

For a large corporation, business administration is going to include international and

global business, as well as strategy and economics. In this instance, the definition of

business administration will include requirements of certain cultural differences and an

acute understanding of the global economy and its current fluidity. Also included in

business administration at this scale is the art and science of acquisition: when to buy a

company or property and why.

Business administration will always include the intangible quality of leadership; you can

obtain an MBA that specializes in just that. Along with leadership comes the task of
http://en.wikipedia.org/wiki/Organizationhttp://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Capitalismhttp://en.wikipedia.org/wiki/Economyhttp://en.wikipedia.org/wiki/Private_propertyhttp://en.wikipedia.org/wiki/Profit_(economics)http://en.wikipedia.org/wiki/Wealthhttp://en.wikipedia.org/wiki/Financial_returnhttp://en.wikipedia.org/wiki/Financial_returnhttp://en.wikipedia.org/wiki/Work_(project_management)http://en.wikipedia.org/wiki/Riskhttp://en.wikipedia.org/wiki/Cooperativehttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/Non-profit_organizationhttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/Etymologyhttp://en.wikipedia.org/wiki/Companyhttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Market_sectorhttp://en.wikipedia.org/wiki/Agribusinesshttp://en.wikipedia.org/wiki/Philosophy_of_businesshttp://en.wikipedia.org/wiki/Philosophy_of_businesshttp://en.wikipedia.org/wiki/Agribusinesshttp://en.wikipedia.org/wiki/Market_sectorhttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Companyhttp://en.wikipedia.org/wiki/Etymologyhttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/Non-profit_organizationhttp://en.wikipedia.org/wiki/Government-owned_corporationhttp://en.wikipedia.org/wiki/Cooperativehttp://en.wikipedia.org/wiki/Riskhttp://en.wikipedia.org/wiki/Work_(project_management)http://en.wikipedia.org/wiki/Financial_returnhttp://en.wikipedia.org/wiki/Wealthhttp://en.wikipedia.org/wiki/Profit_(economics)http://en.wikipedia.org/wiki/Private_propertyhttp://en.wikipedia.org/wiki/Economyhttp://en.wikipedia.org/wiki/Capitalismhttp://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Good_(economics)http://en.wikipedia.org/wiki/Organization


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negotiation and conflict resolution, specifically with regard to personnel. Behavioral

psychology plays an important role in business administration: a misstep in an

adversarial situation with a union can take a company under, as it did Continental

Airlines some years ago.

MEANING OF BUSINESS ADMINISTRATION

The definition of business administration will have to include marketing; you won't have

a business to administer unless you sell your products. Ancillary to marketing is an

understanding of the new tools available for product distribution, and that will involve

understanding e-business and how it is rapidly evolving.

Whether you are working with distributors that are small businesses or you are starting

your own business, business administration includes an understanding of

entrepreneurship: tax structures for small businesses along with personnel issues at

that level, inventory and cash flow, and all the other small matters that make a big

difference to a new or small business.

A critical part of business administration is the awareness of risk. This might include the

risk of launching a new product, and the costs involved; the risk of an acquisition, the

risk of a competitive strategy, the company's exposure in opting for this health plan

instead of that one. There are risks involved in other personnel decisions and this area

is of tangible importance: company morale is a key to productivity and the resultant

profitability.

There are MBA courses taught in all of these areas, and MBA degrees that specialize in

many of them. The definition of business administration includes whatever knowledge is

required to make all of these components work productively, if not in completeharmony.


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DIFFERENCE BETWEEN BUSINESS MANAGEMENT AND

BUSINESS ANALYSIS

There can be a lot of confusion between the administration and management

of businesses. In the practical world of business, they are very similar, and

generally have identical functions and responsibilities. Many may think that

administration is more about paper-pushing and clerical work,

whilemanagement is more about authority and decision-making. However,

unless clearly defined by a particular company, businessmanagement and

administration are generally the same.

Professionals in management are vital to any business or organization. These

managers are relied upon to establish and implement policies, as well as

strategies. Additionally, they are expected to help people involved in the

organization, work for a common goal, in the mosteffective way possible. These

professionals have studied management degree programs, which have helped

them become effective managers.

Management degree programs prepare individuals for planning, managing,organizing, andrunning the essential procedures and tasks of organized bodies,

such as companies or firms. Courses also include many aspects that are vital to

any business, such as communications, production, logistics and purchasing, the

quantitative methods of accounting, administrative practices, decision-making,

marketing,information systems, and human resources management, and so

forth. They also handle training of the workforce.

The degree primes any person for entry-level management positions, likesupervisor, assistant manager, group leader, project manager, or office manager.

The areas or fields of work is broad, as one can work in advertising, finance,

benefits administration, insurance, human resources, wholesaling, retailing,

communication, and transportation.
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A degree in Business Administration, on the other hand, exposes students to a

selection of core subjects. It also allows students to focus on a special academic

area. The core subjects normally include: Business law and ethics, accounting,

finance, economics, marketing, managementinformation systems, organizational

behavior and management, operations management, strategic management, and

operations research.

Seemingly, even the specialized subjects in Administration courses are very similar to

that of Management. The prospective jobs and responsibilities are fairly the same as

well. Business Administration degree programs allow students to become experts in

areas of accounting, finance, entrepreneurship, management, marketing, business

computer applications, and business economics.

If there is any distinction between the two degrees, it will be the broader scope of

Business administration, as it concerns itself with the management and performance of

the operations of a company. Business Administration has various departments, like

accounting, marketing, management, and finance.

TYPES OF BUSINESS

There are many types of business entitydefined in the legal systems of various

countries. These includecorporations,cooperatives,partnerships,sole traders,limited

liability company and other specialized types of organization. Some of these types are

listed below, by country.

For guidance, approximate equivalents in the company law of English-speaking

countries are given in most cases, e.g. p.l.c. (UK), Ltd. (UK), limited partnership,

etc. It should be remembered, however, that the regulations governing particular types

of entity, even those described as roughly equivalent, may differ to a greater or lesser

extent between countries.
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Depending on which type of business entityyou choose will also influence the legal

structure

The most common types of business are:

Sole proprietorship is a type of business owned by a single person who is called a sole

proprietor. The sole proprietor receives all the profits and also assumes all the risks

and debts involved in the business.

Partnership is a type of business owned by two or more persons. The persons involved

are called partners. The partners participating in the business makes a financial

contribution, work contribution or both.

The partnership business is further classified into :

General partnership is a type of business where all the partners are involved in the

control and management of the business. All the partners are liable to the loss and

debts in the business.

Limited partnership is a type of business where there are two types of partners:general partners and limited partners. The general partners are responsible for the

control and management of the business and are liable to the loss and debts. Whereas

the limited partners are just investors and have limited liability.

Limited Liability partnership is the type of business where the partners are not

personally liable for loss or debts of the other partners but are responsible for the loss

and debts occurred due to their negligence.

Corporation is a type of business where the persons have limited liability that is they

are not personally liable for the losses and debts in a business as the corporation can

raise capital by selling the shares. The persons involved in this type of business are

called shareholders.

Limited Liability Company is a combination of partnership and corporations. Like

corporation the persons involved in this type of business are not liable for the loss or


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debts in a business. This type of business is easy to set up similar to partnership

business.

Franchises are a type of business where a company obtains a license from an

established business. This license helps the company to run their business by using the

business methods and trademarks of the established company. Examples for this type

of business are fast food chains, restaurants, etc...

Business Insurance:

Once a business has been established, it is necessary to protect the business from

risks. This can be achieved with business insurance.

The two main types of insurance for a business are :

Property insurance: This type of insurance offers protection to the buildings and

machineries installed within the building. An insurance agent may explain the extent

of coverage in case of damage.

Liability insurance: This type of insurance offers protection to the company when it is

legally liable to a third person or an organization. For example, when your company

loses a lawsuit.

MEANING OF ORGANIZATION

An organization(or organizationspelling differences)is a social arrangement

which pursues collective goals, controls its own performance, and has a boundary

separating it from its environment. The word itself is derived from the Greek word

organon, itself derived from the better-known word ergon.

In the social sciences, organizations are the object of analysis for a number of

disciplines, such associology,economics,political science,psychology,management,

andorganizational communication.In more specific contexts, particularly for

sociologists, the term "institution"may be preferred. The broader analysis of

organizations is commonly referred to asorganizational studies,organizational
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behavior or organization analysis. A number of different theories and perspectives exist,

some of which are compatible,

Organizationprocess-related: an entity is being (re-)organized (organization as

task or action).

Organizationinstitutional:an entity is an organization (organization as an actual

purposeful structure within a social context)

Organizationfunctional: organization as a function of how entities like businesses or

state authorities are used (organization as a permanent structure).

TYPES OF ORGANIZATIONHealth insurance, like other forms ofinsurance,is a form ofcollectivism by means of

which people collectively pool their risk, in this case the risk of incurring medical

expenses. The collective is usually publicly owned or else is organized on a non-profit

basis for the members of the pool, though in some countries health insurance pools

may also be managed by for-profit companies. It is sometimes used more broadly to

include insurance coveringdisability orlong-term nursing or custodial care needs. It

may be provided through a government-sponsoredsocial insurance program, or from

private insurance companies. It may be purchased on a group basis (e.g., by a firm to

cover its employees) or purchased by an individual. In each case, the covered groups or

individuals pay premiums or taxes to help protect themselves from unexpected

healthcare expenses. Similar benefits paying for medical expenses may also be

provided through social welfare programs funded by the government.

By estimating the overall risk of healthcare expenses, a routine finance structure (such

as a monthly premium or annual tax) can be developed, ensuring that money is

available to pay for the healthcare benefits specified in the insurance agreement. The

benefit is administered by a central organization such as a government agency, private

business, or not-for-profit entity.
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Types of Ownership

Sole Proprietorships

owned by one person,

usually the individual who has day-to-day responsibilities for running the business. Sole

proprietors own all the

assets of the business and the profits generated by it. They also assume complete

responsibility for any of its

liabilities or debts. In the eyes of the law and the public, you are one in the same with

the business.

Advantages of a Sole Proprietorship:

Easiest and least expensive form The vast majority of small businesses start out

as sole proprietorships. These firms are of ownership to organize.

Sole proprietors are in complete control, and within the parameters of the law,

may make decisions as they

see fit.

Sole proprietors receive all income generated by the business to keep or reinvest.

Profits from the business flow directly to the owner's personal tax return.

The business is easy to dissolve, if desired.

Disadvantages of a Sole Proprietorship:

Sole proprietors have unlimited liability and are legally responsible for all debts

against the business. Their

business and personal assets are at risk.


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May be at a disadvantage in raising funds and are often limited to using funds

from personal savings or

consumer loans.

May have a hard time attracting high-caliber employees or those that are

motivated by the opportunity to

own a part of the business.

Some employee benefits such as owner's medical insurance premiums are not

directly deductible from

business income (only partially deductible as an adjustment to income).

Partnerships

In a Partnership, two or more people share ownership of a single business. Like

proprietorships, the law does not

distinguish between the business and its owners. The partners should have a legal

agreement that sets forth how

decisions will be made, profits will be shared, disputes will be resolved, how future

partners will be admitted to the

partnership, how partners can be bought out, and what steps will be taken to dissolve

the partnership when

needed. Yes, it's hard to think about a breakup when the business is just getting started,

but many partnerships

split up at crisis times, and unless there is a defined process, there will be even greater

problems. They also must

decide up-front how much time and capital each will contribute, etc.

Advantages of a Partnership:


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Partnerships are relatively easy to establish; however time should be invested

in developing the partnership agreement.

With more than one owner, the ability to raise funds may be increased. The profits from the business flow directly through to the partners' personal

tax returns.

Prospective employees may be attracted to the business if given the incentive

to become a partner.

The business usually will benefit from partners who have complementary skills.

Disadvantages of a Partnership:

Partners are jointly and individually liable for the actions of the other partners.

Profits must be shared with others.

Since decisions are shared, disagreements can occur.

Some employee benefits are not deductible from business income on tax returns.

The partnership may have a limited life; it may end upon the withdrawal ordeath

of a partner.

Types of Partnerships that should be considered:

1. General Partnership

Partners divide responsibility for management and liability as well as the shares of

profit or loss according to their internal agreement. Equal shares are assumed

unless there is a written agreement that states differently.


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2. Limited Partnership and Partnership with limited liability

Limited means that most of the partners have limited liability (to the extent of their

investment) as well as limited input regarding management decisions, which

generally encourages investors for short-term projects or for investing in capital

assets. This form of ownership is not often used for operating retail or service

businesses. Forming a limited partnership is more complex and formal than that of

aDisadvantages of a Partnership:

Partners are jointly and individually liable for the actions of the other partners.

Profits must be shared with others.

Since decisions are shared, disagreements can occur. Some employee benefits are not deductible from business income on tax returns.

The partnership may have a limited life; it may end upon the withdrawal ordeath

of a partner.

Corporations

A corporation chartered by the state in which it is headquartered is considered by law to

be a unique entity,

separate and apart from those who own it. A corporation can be taxed, it can be sued,

and it can enter into

contractual agreements. The owners of a corporation are its shareholders. The

shareholders elect a board of

directors to oversee the major policies and decisions. The corporation has a life of itsown and does not dissolve

when ownership changes.

Advantages of a Corporation:


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Shareholders have limited liability for the corporation's debts or judgments against

the corporations.

Generally, shareholders can only be held accountable for their investment in stock

of the company. (Note

however, that officers can be held personally liable for their actions, such as the

failure to withhold and pay

employment taxes.)

Corporations can raise additional funds through the sale of stock.

A corporation may deduct the cost of benefits it provides to officers and

employees.

Can elect S corporation status if certain requirements are met. This election

enables company to be taxed

similar to a partnership.

Disadvantages of a Corporation:

The process of incorporation requires more time and money than other forms of

organization.

Corporations are monitored by federal, state and some local agencies, and as a

result may have more

paperwork to comply with regulations.

Incorporating may result in higher overall taxes. Dividends paid to shareholders

are not deductible frombusiness income; thus it can be taxed twice.
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Federal Tax Forms for Regular or "C" Corporations:

(only a partial list and some may not apply)

Form 1120 or 1120-A: Corporation Income Tax Return

Form 1120-W Estimated Tax for Corporation

Form 8109-B Deposit Coupon

Form 4625 Depreciation

Employment Tax Forms

Other forms as needed for capital gains, sale of assets,alternative minimum tax,

etc.

Subchapters Corporations

A tax election only; this election enables the shareholder to treat the earnings and

profits as distributions and

have them pass through directly to their personal tax return. The catch here is that the

shareholder, if working for

the company, and if there is a profit, must pay him/herself wages, and must meet

standards of "reasonable

compensation". This can vary by geographical region as well as occupation, but the

basic rule is to pay yourself

what you would have to pay someone to do your job, as long as there is enough profit. If

you do not do this, the

IRS can reclassify all of the earnings and profit as wages, and you will be liable for all of

the payroll taxes on the

total amount.

Federal Tax Forms for Subchapter S Corporations:

(only a partial list and some may not apply)
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Form 1120S: Income Tax Return for S Corporation

1120S K-1: Shareholder's Share of Income, Credit, Deductions

Form 4625 Depreciation

Employment Tax Forms

Form 1040: Individual Income Tax Return

Schedule E: Supplemental Income and Loss

Schedule SE: Self-Employment Tax

Form 1040-ES: Estimated Tax for Individuals

Other forms as needed for capital gains, sale of assets, alternative minimum tax,

etc.

Limited Liability Company (LLC)

The LLC is a relatively new type of hybrid business structure that is now permissible in

most states. It is designed

to provide the limited liability features of a corporation and the tax efficiencies and

operational flexibility of a

partnership. Formation is more complex and formal than that of a general partnership.

The owners are members, and the duration of the LLC is usually determined when the

organization papers are

filed. The time limit can be continued, if desired, by a vote of the members at the time of

expiration. LLCs must not

have more than two of the four characteristics that define corporations: Limited liability

to the extent of assets,

continuity of life, centralization of management, and free transferability of ownership

interests.

Federal Tax Forms for LLC:


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Taxed as partnership in most cases; corporation forms must be used if there are more

than 2 of the 4 corporate

characteristics, as described above.

In summary, deciding the form of ownership that best suits your business venture

should be given careful

consideration. Use your key advisers to assist you in the process.

INTRODUCTION

Insurance is an upcoming sector, in India the year 2000 was a landmark

year for insurance industry, in this year the insurance industry was liberalized

after more than fifty years.

Insurance sector was once a monopoly, with LIC as the only company, a

public sector enterprise. But nowadays the market opened up and there are many

private players competing in the market. There are fifteen private life insurance

companies has entered the industry

For the past five years private players have launched many innovations in

the industry in terms of products, market channels and advertisement of

products, agent training and customer services etc.

Definition

"Insurance is a contract between two parties whereby one party called insurer

undertakes in exchange for a fixed sum called premiums, to pay the other party

called insured a fixed amount of money on the happening of a certain event."


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MARKET PENETRATION IN HEALTH CARE: MEDICAL INSURANCE POLICY`S

ENCOMPASSING DESCRIPTION

Customers have the power to debate about the incomprehension the concept of

market penetration in Medical insurance can produce. Most medical coverage

policies vary in cost and extent of coverage. Moreover, there isnt any one to

inform potential buyers about the policies that are most advantageous to get and

those you should avoid. The best medical policy plan customer should get will

depend on just what category of medical cover that customer want to have,

whether they need to consider others in their immediate family , their

requirements, besides other criteria. Features as well as alternative coverages

differ widely amongst sorts of medical policy programs, and more so than the

differences, will find in policies from sundry insurers providing the plans. The

most likely discrepancy to show up amongst insurance providers is usually

insurance charges -- based on customer personal state of affairs, some insurance

providers` rates


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Could be less then others

Still, theres no call for insurance providers to qualify as an expert, nor do you

need to waste too many hours to figure out what medical insurance package is

most appropriate for customer circumstances. Understanding what type of policy

plan offers the attributes customer need will probably guide customer to an

appropriate selection without too much hassle.

MEDICAL INSURANCE

The policy provides for Financial Assistance against Hospitalization

Expenses towards disease / illness / injury in India including domiciliary

Hospitalization and day Care treatment.

Health Shield Online is a comprehensive Health Insurance package specially

designed to offer complete protection to the insured and his family. You can

cover your spouse, children (above 90 days) and dependent parents (up to 50

years) from all Health worries. However, renewal is accepted only up to 70 years.

With Health Shield, you will also have access to value added services like

cashless treatment (subject to conditions and authorizations) at a list of hospitals

provided by us, a 24 hour helpline and ambulance referral facility at no additional

cost. It has been designed to ensure that you and your family get the best medical

treatment at any time when you need it.


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TYPES OF MEDICLAIM INSURANCE

Individual Mediclaim

Group Mediclaim

BASIC FEATURES

Hospitalization Expenses

Daycare Treatment

Domiciliary Hospitalization

Pre and Post Hospitalization

Coverage of Pre-Existing Diseases

Critical Illness Cover

Donor Expenses

VALUE ADDED FEATURES

Expenses of accompanying person at the HospitalLocal Road Ambulance Services

Recovery Benefit

Cost of Health Check up

Nursing Allowance

Hospital Daily Allowance

A BUYERS GUIDE TO MEDICAL INSURANCE


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With employers increasingly feeling they have to look after staff welfare,

providers are responding by redeveloping products.

Medical insurance (MI) has long been an attractive benefit among employees. On-

going negative press about the National Health Service (NHS) means that MI's

popularity is unlikely to wane any time soon. According to Bupa's Health of the

nation survey, published last month, MI is now the second most sought-after

benefit, falling only behind pensions.

But aside from providing an attractive benefit for employees, there is an

added dimension to healthcare in that employers are increasingly feeling they

have to look after staff welfare. This is just one of a number of factors that can

affect the usage and cost of MI. Thomas van every, chief medical officer of Patient

Choice, says: "Employers have to consider the lifestyles of their employees rather

than just their acute health. For example, obesity, smoking cessation, [and] stress

management are areas where employers are starting to provide services."

DUTY OF CARE

Investing in wellbeing services to complement MI schemes can help

employers to meet duty-of-care obligations towards their workforce. Mandy

Blanks, PR manager at Standard Life Healthcare, says: "Employers should be

aware of the duty of care to their employees. Cost is very much at the heart of

employers' decision to provide PMI and, in a competitive market; insurers are


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clamoring for corporate business. "It is much easier to switch plans these days.

There is no need to stay with a product or provider you're not completely

satisfied with, as some companies are now offering easy switching, often on

continuous underwriting terms,".

HEALTH CARE TRUST

This move towards self insurance by employers, where they set up a corporate

healthcare trust fund to pay for medical costs, is also having an effect on the

market. "It is something employers should look at. To encourage employees to

take a greater interest in their own health, insurers are continuing to add to their

product propositions

SWOT ANALYSIS

Major Strengths:

Premium rates are increasing and so are commissions.

The variety of products is increasing.

Prospects expect more services from their brokers.

Major Weaknesses

Insurance companies are often slow to respond to changing needs.

There is an increasing trend of financial weakness among the companies.

There are more competitors for agencies to compete with banks and Internet players.

Opportunities

The ability to cross sell financial services is barely being tapped.

Technology is improving to the point that paperless transactions are available.


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The client's increasing need for an "insurance consultant" can open new ways to

service the client and generate income.

Threats

The increasing cost and need for insurance might hit a point where a backlash will

occur.

Government regulations on issues like health care, mold and terrorism can quickly

change the direction of insurance. Increasing expenses and lower profit margins will hit

hard on the smaller agencies and insurance companies.

Increasing expenses and lower profit margins will hit hard on the smaller agencies and

insurance companies.

STUDY OF AN PARTICULAR ORGANIZATION

APOLLO MUNICH HEALTH INSURANCE COMPANY LIMITED

Apollo Munich Health Insurance Co. Ltd. (previously Apollo DKV

Insurance Co. Ltd) is a joint venture between Apollo Hospitals Group and Munich

Health, Munich Res newest business segment.

The company offers comprehensive health insurance plans for individuals and their

families as well as for corporate houses. The company also offers individual


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personal accident plans and travel insurance for individuals, families and senior

citizens. Apollo Munich is a specialized health insurance company in India that has

expertise in both health and insurance and is able to leverage this understanding for

the benefit of its customers.

With over 8065 beds across 46 hospitals in India and overseas, neighbourhood

diagnostic clinics, an extensive chain of Apollo Pharmacies, medical BPO as well

as health insurance services and clinical research divisions working on the cutting

edge of medical science, The Apollo Hospitals Group is Asias largest integrated

healthcare provider.

Munich Health draws on Munich Res insurance andreinsurance competence with

over 5,000 employees and clients in more than 40 countries. Munich Re stands for

exceptional solution-based expertise, consistent risk management, financial

stability and client proximity. This is how Munich Re creates value for clients,

shareholders and staff. In the financial year 2008, the Group which pursues an

integrated business model consisting of insurance and reinsurance achieved a

profit of 1.5bn on premium income of around 38bn. It operates in all lines of

insurance, with around 44,000 employees throughout the world.

Munich Health is a strong brand within a strong group

Munich Re operates worldwide, turning risk into value. In the financial year 2008,

it achieved a profit of 1,528m on premium income of around 38bn. The Group

operates in all lines of business, with around 44,000 employees at over 50

locations throughout the world and is characterised by particularly pronounced


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diversification, client focus and earnings stability. With premium income of

around 22bn from reinsurance alone, it is one of the world's leading reinsurers.

The primary insurance operations are mainly concentrated in the ERGO InsuranceGroup. One of the largest insurance groups in Europe, ERGO achieved a premium

income of over 17bn in 2008. It is the European market leader in health and legal

expenses insurance, and 40 million clients in over 30 countries place their trust in

the services and security it provides. The global investments of Munich Re

amounting to 175bn are managed by MEAG, which also makes its expertise

available to private and institutional investors outside the Group.

In healthcare, Munich Re pools its worldwide insurance and reinsurance

operations, as well as related services, under the Munich Health brand. More

than 5,000 experts at 26 locations cooperate closely within Munich Health to

develop excellent products and solutions for their clients and partners all over the

world. To best meet the often highly diverse needs of clients on the local level,

Munich Health has established a decentralised organisational structure, which is

managed from four regional business hubs in Princeton, Abu Dhabi, Singapore

and Munich. We are thus in a position to closely support our some seven million

primary insurance clients and over 400 reinsurance clients, affirms Wolfgang

Strassl, CEO of Munich Health. In addition to risk expertise in the international

health market, Munich Health represents a broad spectrum of services and risk

transfer solution. These companies range from pure reinsurers and traditional

primary insurers to comprehensive providers of integrated insurance and

healthcare services. Since the implementation of the international health


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strategy, premium and top-line growth averaging 20% annually is targeted. In the

2008 financial year, premium income was approximately 2.7bn.

Apollo Hospitals Overview

It is often said that nothing happens, unless there is a dream first. At the genesis of

the Apollo story there was a dream. A dream so powerful, that it helped transform

the medical landscape in India.


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The dream nurtured and grew within Dr. Prathap C Reddy, the founder Chairman

of Apollo Hospitals, until the point of inflection happened in 1983 . A young man

succumbing to an ailing heart was what it took to ignite Dr. Reddy's vision into a

reality - a vision where quality healthcare was given, where the pursuit of clinical

excellence was daily endeavor, India a hub in the medical tourism map and where

the Apollo family touches and enriches lives every minute, every day.

Apollo Hospitals started as a 150 bed hospital in Chennai in 1983. And it has to be

said, amidst much scepticism. India in the early 80's was not the easiest place for

private enterprise. Moreover private healthcare institutions were unknown and they

were not doing cutting edge work. 25 years later it is an amazing story of success,

achievement and most importantly, dreams realized.

As Apollo Hospitals has made colossal strides to reach where it is, more and more

facets of the founding vision have turned to reality. Today Apollo Hospitals is not

just one of the country's premier healthcare providers but has also played a

pioneering role in helping India become a center-of-excellence in global

healthcare.

The Apollo Hospitals group today includes over 8500 beds across 50 hospitals in

India and overseas, neighborhood diagnostic clinics, an extensive chain of Apollo

Pharmacies, medical BPO and health insurance services and clinical research

divisions that are working on the cutting edge of medical science.

However the largest achievement of the Apollo Group has been to take quality

healthcare to across the length and breadth of India. Of touching 10 million lives


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and giving hope to an entire segment of the Indian population who did not have an

option beyond limited medical infrastructure.

Apollo has succeeded in being more than just a quality healthcare provider. It has

been a major player in scripting the medical landscape of the nation. This is

primarily because the group has continuously been at the helm of several game-

changing innovations in Indian healthcare.

By the start of the new millennium, Apollo Hospitals Group had become an

integrated healthcare organization with owned and managed hospitals, diagnostic

clinics, dispensing pharmacies and consultancy services. In addition, the group's

service offerings include healthcare at the patient's doorstep, clinical & diagnostic

services, medical business process outsourcing, third party administration services

and heath insurance. To enhance performance and service to customers, the

company also makes available the services to support the business of healthcare;

telemedicine services, education and training programs & research services and a

host of not- for- profit projects.

APOLLO HOSPITALS GROUP:


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Munich Re Group:

Reinsurance, primary insurance and Munich Health these are the three

pillars that form the basis of our integrated business model. We take on risks

worldwide of every type and complexity, and our experience, financial

strength, efficiency and first-class service make us the first choice for all

matters relating to risk. Our client relationships are built on trust and

cooperation.

Munich Restands for exceptional solution-based expertise, consistent risk

management, financial stability and client proximity. In the financial year 2009,

the Munich Re Group achieved a profit of 2.56bn on premium income of around

41bn. It operates in all lines of insurance, with around 47,000employees

throughout the world.

Reinsurance

With premium income of around 25bn from reinsurance alone, Munich Re is oneof the world's leading reinsurers. Especially when clients require solutions for

complex risks, Munich Re is a much sought-after business partner. Our roughly

13,300 staff in reinsurance possess unique global and local knowledge. Munich Re

attaches great importance to its client service, which regularly receives top ratings.

Primary insurance

Our primary insurance operations are mainly concentrated in the ERGO Insurance

Group. With premium income of over17bn, ERGO is one of the largest insurance

groups in Europe and Germany. 40 million clients in over 30 countries placing

their trust in the services and security it provides.


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Munich Health

Under the Munich Health brand, Munich Re combines its global healthcare

knowledge in primary insurance and reinsurance. Over 5,000 experts at 26

locations use this wealth of knowledge to offer our international clients innovative

solutions and individual consultancy and services. Our unique business model

means we can respond quickly and effectively to changes in local markets, thus

ensuring the long-term success of our clients.

Asset management

The Groups worldwide assets of 180bn are managed by MEAG MUNICH

ERGO AssetManagement. Munich Res subsidiary MEAG specialises in asset-

liability management for the Group and is responsible for matching insurance

liabilities with suitable investments. The quality of our asset management proved

its worth during the recent financial crisis, which Munich Re weathered with

relatively low losses and continued financial strength.

MEAG also makes its know-how available to institutional investors and private

clients. Currently, MEAG manages unit-trust assets totalling 9bn.

FEATURES OF MEDICLAIM POLICY

BASIC FEATURES

Hospitalization Expenses


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Daycare Treatment

Domiciliary Hospitalization

Pre and Post Hospitalization

Coverage of Pre-Existing Diseases

Critical Illness Cover

Donor Expenses

VALUE ADDED FEATURES

Expenses of accompanying person at the Hospital

Local Road Ambulance Services

Recovery Benefit

Cost of Health Check up

Nursing Allowance

Hospital Daily Allowance

POLICY FEATURES

Income Tax Benefit


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Family Floater ( 1, 1+1, 1+2, 2+2 )

Sum Insured

Pre-insurance Health Check up

Option in Policy Duration ( 1 & 2 years )

Renewal Discount

Cashless Facility (Through Third Party Administrators - TPA)

Age Slabs

EASY HEALTH INDIVIDUAL HEALTH INSURANCE PLAN / EASY HEALTH FAMILY

FLOATER INSURANCE PLAN

Critical Illness Benefit

Claims made in respect of any of the benefits below will not be subject to the

Sum Insured and will not affect either the entitlement to a Cumulative bonus

or a health check-up.

If the Schedule shows that the Critical Illness benefit is effective, then We will

pay the Critical Illness Sum Insured as a lump sum in addition to Our payment

under


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1)a), provided that:

i) The Insured Person is first diagnosed as suffering from a Critical Illness

during the Policy Period, and

ii) The Insured Person survives for at least 30 days following such

diagnosis.

b) We will not make any payment if:

i. The Insured Person is first diagnosed as suffering from a

Critical Illness within 90 days of the commencement of the

Policy Period and the Insured Person has not previously been

insured continuously and without interruption under an Easy

Health Individual Health Insurance Plan or Easy Health Family

Floater Insurance Plan.

ii. The Insured Person has already made a claim for the same

Critical Illness.


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iii. A claim for this benefit has already been made 3 times under

this Policy or any other policy issued by Us.

Interpretations & Definitions

The terms defined below have the meanings ascribed to them wherever they

appear in this Policy and, where appropriate, references to the singularinclude references to the plural; references to the male include the female and

references to any statutory enactment include subsequent changes to the same:

Critical Illnessmeans Cancer, Coronary Artery (Bypass) Surgery, First Heart Attack

(Myocardial Infarction), Kidney Failure (end stage renal disease), Major Organ

Transplantation, Multiple Sclerosis, Paralysis and Stroke all as defined below only:

i) Cancer:A disease manifested by the presence of a malignant tumour

characterised by the uncontrolled growth and spread of malignant

cells, and the invasion of tissue. Diagnosis must be confirmed by

a specialist Medical Practitioner and evidenced by definitehistology. Cancer also includes leukaemia and malignant diseases

of the lymphatic system such as Hodgkins Disease.


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Excluded are:

Any CIN stage (cervical intraepithelial neoplasia)

Any pre-malignant tumour

Any non-invasive cancer (cancer in situ)

Prostate cancer stage 1 (T1a, 1b, 1c)

Basal cell carcinoma and squamous cell carcinoma

Malignant melanoma stage IA (T1a N0 M0)

Any malignant tumour in the presence of any Human

Immunodeficiency Virus.

The actual undergoing of open chest surgery for the correction of

one or more coronary arteries, which are narrowed or blocked, by

coronary artery bypass graft (CABG). The surgery must have

been proven to be necessary by means of coronary angiography

and realisation of the surgery must be confirmed by a specialist

Medical Practitioner.

Excluded are:

Angioplasty

Any other intra-arterial procedures

Key-hole surgery

Heart Attack (Myocardial Infarction):

The death of a portion of the heart muscle as a result of

inadequate blood supply to the relevant area. Diagnosis must be


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confirmed by a specialist Medical Practitioner and evidenced by

all of the following criteria:

a history of typical chest pain

new characteristic electrocardiogram changes

elevation of infarction specific enzymes, Troponins or other

biochemical markers

Excluded are:

Non-ST-segment elevation myocardial infarction (NSTEMI) with

only elevation of Troponin I or TOther acute Coronary

Syndromes (e.g. stable/unstable Angina pectoris)

Silent myocardial infarction

ii) Kidney Failure(End Stage Renal Disease):

End stage renal disease presented as chronic irreversible failure

of both kidneys to function, as a result of which either regular

renal dialysis (haemodialysis or peritoneal dialysis) is instituted

or renal transplantation is carried out. Diagnosis must be

confirmed by a specialist Medical Practitioner.

iii) Major Organ Transplantation:

The actual undergoing of transplantation as the recipient of a heart,

lung, liver, pancreas, small bowel, kidney or bone marrow.

Realisation of the transplantation must be confirmed by a specialist

Medical Practitioner.


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iv) Multiple Sclerosis:

Unequivocal diagnosis of Multiple Sclerosis by a specialist Medical

Practitioner evidenced by typical clinical symptoms of demyelination

and impairment of motor and sensory functions as well as by typical

MRI findings.

The diagnosis must be confirmed by a specialist Medical Practitioner

and evidenced by all of the following criteria:

Typical clinical symptoms (neurological abnormalities) of

demyelination manifested as an impairment of motor &

sensory functions.

The diagnosis must establish that the Insured Person has

exhibited these clinical symptoms (neurological abnormalities)

that have existed for a continuous period of at least 6 calendar

months or at least 2 clinically documented episodes at least 30

days apart.

Characteristic findings in the cerebrospinal fluid as well as

specific cerebral MRI lesions.

v) Paralysis:

Total and irreversible loss of use of two or more limbs through

paralysis due to Accident or Illness of the spinal cord. These


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conditions must be medically documented by a specialist Medical

Practitioner for at least 90 days.

Excluded is: Paralysis due to Guillain-Barr-Syndrome

vi) Stroke:

Any cerebrovascular incident producing permanent neurological

sequelae and including infarction of brain tissue or haemorrhage

or embolisation from an extracranial source.

Diagnosis must be confirmed by a specialist Medical Practitioner

and evidenced by typical clinical symptoms as well as typical

findings in CCT Scan or MRI of the brain. Evidence of

neurological deficit for at least 90 days must be produced.

APOLLO MUNICH HEALTH INSURANCE PLANS


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There are two health insurance plans in Apollo Munich.

They are:

1) Easy Health

2) Maxima

Features of Easy Health:

Schedule of BenefitsEasy Health Family Floater Insurance Plan

Standard Exclusive Premium

Sum Insured per

Policy

2.00, 3.00,

4.00, 5.00

3.00, 4.00,

5.007.50 4.00, 5.00

7.50,

10.00

1 a) In-patient

Treatment

Covered Covered Covered

1 b) Pre-

hospitalization


1 c) Post- Covered Covered Covered


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hospitalization

1 d) Day Care

Procedures


1 e) Domiciliary

Treatment


2 a) Daily Cash

for choosing

Shared

Accommodation

Rs.500 per

day,

Maximum

Rs.3,000

Rs.500 per

day,

Maximum

Rs.3,000

Rs.800 per

day,

Maximum

Rs.4,800

Rs.500 per

day,

Maximum

Rs.3,000

Rs.800 per

day,

Maximum

Rs.4,800

2 b) Organ Donor Covered Covered Covered

2 c) Emergency

Ambulance

Upto Rs.

2000Upto Rs. 2000 Upto Rs. 2000

2 d) Daily Cash

for

accompanying an

insured child

Not

Covered

Rs.300 per

day,

Maximum

Rs.9,000

Rs.500 per

day,

Maximum

Rs.15,000

Rs.300 per

day,

Maximum

Rs.9,000

Rs.500 per

day,

Maximum

Rs.15,000

2 e) Newborn

baby

Not

Covered

Optional Optional

3 a) Maternity

Expenses

Not

Covered

Normal

Delivery

Normal

Delivery

Normal

Delivery

Normal

Delivery


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Waiting Period 4

years

Rs.

15,000*

Caesarean

Delivery

Rs.

25,000*

(*

Including

Pre/Post

Natal limit

of

Rs.1,500

and New

Born limit

of

Rs.2,000)

Rs.

25,000*

Caesarean

Delivery

Rs.

40,000*

(*

Including

Pre/Post

Natal limit

of Rs.

2,500 and

New Born

limit of

Rs.3500)

Rs.

15,000*

Caesarean

Delivery

Rs.

25,000*

(*

Including

Pre/Post

Natal limit

of

Rs.1,500

and New

Born limit

of

Rs.2,000)

Rs.

25,000*

Caesarean

Delivery

Rs.

40,000*

(*

Including

Pre/Post

Natal limit

of Rs.

2,500 and

New Born

limit of

Rs.3500)

3 b) Outpatient

Dental

Treatment

Waiting Period 3

years

Not

CoveredNot Covered

Upto 1 % of Sum

insured subject to a

Maximum of Rs. 5000

3 c) Spectacles, Not Not Covered Upto Rs. 5000


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Contact Lenses,

Hearing Aid

Every Third Year

Covered

3 d) E-Opinion in

respect of a

Critical Illness

Not

CoveredNot Covered

Covered , One opinion

per policy year

4 Critical IllnessNot

Covered

Optional, if opted then

the Critical Illness Sum

Insured is as per the

Insured Persons Table

in the Schedule

Optional, if opted then

the Critical Illness Sum

Insured is as per the

Insured Persons Table

in the Schedule

5 Health Checkup

Upto 1% of

Sum

Insured

Every 4th

Year

Upto 1% of Sum

Insured subject to a

Maximum Rs. 5000 per

person

Every 3rd

Year

Upto 1% of Sum

Insured subject to a

Maximum Rs. 5000 per

person

Every 2nd

Year

Benefits under 3b), 3c), 3d) and 5) are subject to pre-authorisation by the TPA


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Features of Maxima:

This plan includes both inpatient and outpatient treatment. Inpatient module is

same as Easy health. Out patient treatment is available by coupons with the

policy. Coupon details are described below.

Sum Insured per

PolicySelf 2 Adults

2 Adults +

Upto 2

Children

Part A- Outpatient Module

a) Outpatient

Consultations

*

a 1) Consultation

with General

Practitioner(s),

Physician,

Gynaecologist or

Paediatrician

a) 4

Consultati

ons

a1) 3

Consultations

a2) 1

a. 6

Consultati

ons

a1) 4

Consultations

a2) 2

a.) 8

Consultations

a1.) 6

Consultations

a2.) 2


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a 2) Consultation

other than mention

in a1

Consultation Consultations Consultations

b) Diagnostic Tests

within specified

Network

Rs. 1,000 Rs. 1,000 Rs. 2,000

c) Pharmacy within

specified NetworkRs. 2,000 Rs. 2,500 Rs. 3,000

d) Outpatient

Dental Treatment

within specified

Network

Rs. 1,000 Rs. 1,000 Rs. 1,000

e) Spectacles,

Contact Lenses

within specified

Network

Rs. 1,000 Rs. 1,000 Rs. 1,000

f) Annual Health

Check-up within

specified Network

1 Entitlement

Certificate

2 Entitlement

Certificates

2 Entitlement

Certificates

* The reimbursement against non-network Outpatient Consultations

is restricted up to lower of actual expenses or Rs. 350 under benefit


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a1) & Rs. 500 under benefit a2)

Functional chart:


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SWOT ANALYSIS

Strengths of Apollo Munich Health Insurance

The background of Apollo Munich is itself a strength. The Apollo

Hospitals group is the largest service provider in health care and MunichRe is the worlds biggest health insurer.

Product is more comprehensive to the customers.

Stand alone health insurance company

Weaknesses of Apollo Munich Health Insurance

More ad campaigns should be given.

Should open other measures of selling insurance.

Opportunities:

In India the insurable population is huge. Only 3% of Indian population have

health insurance. So opportunities are more to increase sales.

Because of many companies coming into insurance business the

advertisement on insurance has increased, which will improve the


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knowledge of the individuals on insurance that is an opportunity for the

company.

Threats:

Apollo Munich Health Insurance has only one threat that is competition from

newly put up stand alone health insurance companies like Max Bupa and StarAllied Health insurance


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CONCEPTUAL DEFINITIONS

a) Insurance - Insurance is an economic institution based on the principle

of mutuality, the need for which arises owing to chance occurrences of

nature which can be easily estimated thus when one talks of insurance

the following aspects are important

Principle of mutuality

Economic activities.

Probability of occurrence of event. Estimating and pricing the financial loss.

Thus insurance is designed to compensate a policyholder for loss suffered, by the

payment of money, repair, replacement or reinstatement. In every case of the

policyholder is entitled to be put back to the same financial position as he or she

was immediately before the event insured against occurred.


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b) Insurer: -The Company that covers an individual under an insurance

policy called the insurer.

c) Insured: - An individual who is covered under the policy is called

the insured or policy holder

Premium: - The amount that is paid by the policy holder toward the

sum assured to the insurer either monthly, quarterly, half yearly or annually is

called premium.

d) Maturity: - The period for which the insurance policy has been

taken is known as the maturity period.

e) Eventuality: - Death of a policyholder is known as eventuality.

f)Claims: - Claims refer to the demand for the commitment made by the

insurer at the time of entering in to the contract. The insurer has to be

satisfied that all condition set for the settlement of the claim have been

fulfilled.

g) Sum assured: -The sum for which the policyholder insures himself with

insurer is called the sum assured.

h) Annuities: - A specified capital sum is paid by a person in return for a

promise from the insurer to make a series of payments as long as the

person lives.

i) Assurance: - Events that must occur at some time, such as death, are

provided for by assurance.

j) Critical Illness: -An added coverage of paying out a lump sum on

diagnosis of specified critical illness or dread disease


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Group insurance: -Group

insurance is a scheme that

provides insurance

benefits to a number of

people under a single policy.

k) Regular Endowment: - Regular premium savings policy provides

minimum life cover on death during the term offers invest & risk

protection.

l)Surrender: - Surrender is a voluntary termination of a contract by a

policyholder.

Table 1:

Table showing AGE PROFILE OF THE RESPONDENTS

Age Group Response Percentage


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Figure 1:

Chart showing AGE PROFILE OF THE RESPONDENTS

Interpretation:

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Percentage

>50

40-50

30-40

30-40 12 12%

40-50 50 50%

>50 38 38%

Total 100 100%


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From the above chart it is clear that 50% of the respondents fall

under the age group between 40-50, whereas 38% fall under the age group above

50years and 12% fall under the age group between 30-40 Years.

Table 2:

TABLE showing

ANNUAL INCOME OFTHE RESPONDENTS

Income Response Percentage

5 Lakhs 29 29%

Total 100 100%


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Interpretation:

From the above table it is clear that 54% of the Respondents earns

between 2-5 lakhs, while 29% of the respondents are those who earn above 5

lakhs. There exists 17% of the respondents earns less than 2 lakhs.

TABLE 3 :

Table showing OCCUPATION OF THE RESPONDENTS

FIGURE 3 :

Chart showing OCCUPATION OF THE RESPONDENT

Occupation Response Percentage

Business 21 21%

Professional 24 24%

Employed 55 55%

Total 100 100%


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Interpretation:

The nature of occupation plays a vital role in studying the ratio of

population. The above displayed statistical data shows that 21% of the

respondents are businessmen, 24% of them are professionals and 55% of the

respondents are found to be employees.

TABLE 4 :

Table showing RESULT OF PERCENTAGE OF SAVING SPEND FOR MEDICAL

EXPENSES

0% 20% 40% 60% 80% 100%

RESPONSE

BUSINESS

PROFESSIONAL

EMPLOYED


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Savings Response Percentage

Upto10% 64 64%

Upto25% 19 19%

Upto50% 12 12%

>50% 5 5%

Total 100 100%

FIGURE 4 :


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Chart showing RESULT OF PERCENTAGE OF SAVING SPEND FOR MEDICAL

EXPENSES

Interpretation: This shows that people save only up to 10% of their earnings for

the medical expenses. Hence, effective and efficient steps should be taken to woo

the customers to save that money for mediclaim insurance.

TABLE 5 :

Table showing PEOPLE WITH ENOUGH ASSETS STILL NEED A MEDICLAIM POLICY

Still need a policy Response Percentage

YES 61 61%

PERCENTAGE

0%

10%

20%

30%

40%

50%

60%

70%

UPTO 10% UPTO25% UPTO50% >50%

PERCENTAGE


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NO 39 39%

TOTAL 100 100%

FIGURE 5 :

Chart showing PEOPLE WITH ENOUGH ASSET STILL NEED A MEDICLAIM POLICY

Interpretation:

The chart shows that respondents having enough assets to maintain their family

medical expenses, though but them still need medicliam insurance is 61%. But

there are people who dont need mediclaim insurance are 39%, hence company

have to take some steps to reduce it.

Response

0%

10%

20%

30%

40%

50%

60%

70%

80%

YES NO

Response


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TABLE 6 :

Table showing PEOPLE HAVE A MEDICAL COVER UNDER EMPLOYEE SCHEME

STILL NEED A MEDICLAIM POLICY

Still need a policy Response Percentage

YES 26 26%

NO 74 74%

TOTAL 100 100%

FIGURE 6:


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Chart showing PEOPLE HAVE A MEDICAL COVER UNDER EMPLOYEE SCHEME

STILL NEED A MEDICLAIM POLICY

Interpretation:

The chart shows that respondents having a medical cover under employee

schemes still they need mediclaim policy is 26%, which is less then the

Response

YES

NO


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respondents doesnt need a policy is 74% . So that company has to take some

action to cover the employed people.

TABLE 7 :

Table showing PURPOSE OF AVAILING MEDICLIAM INSURANCE

PURPOSE RESPONSE PERCENTAGE

HEALTH PROTECTION 48 48%

TAX BENEFITS 46 46%

OTHERS 6 6%

TOTAL 100 100%

FIGURE 7 :

Chart showing PURPOSE OF AVAILING MEDICLIAM INSURANCE


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Interpretation:

The chart shows that the respondents avail mediclaim insurance for the purpose

of Health protection is 48%, Tax benefits is 46%, and others is 6%. Health

protection & Tax benefits are in nearest percent, company has to concentrate on

both the plans.

Figure 8 :

Table showing RESULT OF AWARENESS OF POLICY SCHEMES

AWARENESS Response Percentage

YES 21 21%

NO 79 79%

Total 100 100%

RESPONSE

Health Protection

48%Tax Benefits

46%

Others

6%


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FIGURE 8 :

Chart showing RESULT OF AWARENESS OF POLICY SCHEMES

Interpretation:

Although there is high brand equity among the target audience yet, it is to be

noted that the customers are not aware of the policys provided by the company

meaning thereby, that, the company should concentrate more towards

promotional tools and increase its focus on product awareness rather than brand

awareness.

TABLE 9 :

Table showing MODE OFAWARENESS

Response

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

YES NO

Response


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Mode Response Percentage

Media

advertising 42 42%

Friends &

relatives 9 9%

Hoardings 6 6%

Agents 43 43%

Total 100 100%


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FIGURE 9 Chart showing MODE OFAWARENESS

Interpretation:

The chart shows that the mode of awareness of policys to the respondents

through Media advertising is 42%, friends & relatives is 9%,agents is 43% and the

hoardings is 6%, company have to concentrate on media advertising, agents so

tat the policy awareness spread to all the people.

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Media

Advertis ing

Friends &

Relatives

Hoardings Agents


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With the globalized economy and immense competition among

countries for faster development of their respective economies, the significance

of Insurance and Foreign investment has taken manifold. Importance and the role

of Insurance, Mutual funds and FIIs role in the Indian stock market can be seen

from the fact that the recent surge in Sensex and NIFTY is attributed to the active

participation of FIIs in the Stock Market

Although relatively new entrants are in the market, Apollo Munich is

slowly but surely gaining a strong hold because of its background in Health Care

Industry.

A good brand is always welcomed and people are more aware and

conscious for the brand they choose. They are ready to invest for the quality


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Health Care Services. Right now Apollo Munich is at its nascent stage and will

surely grab the major market under its belt.

a) Book References:

Marketing Management (2002 Edition)Philip Kotler

Research methods for business (Fourth Edition)-Uma Sekaran

Research Methodology (Second Edition)-C.R.Kothari

b) E Reference:

www.apollomunich.com

www.marketingteacher.com

www.wikipedia.org
http://www.marketingteacher.com/http://www.marketingteacher.com/http://www.marketingteacher.com/

marketing study report

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