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EXECUTIVE SUMMARY

Success and overall growth potential of the insurance business depend on the efforts being made by the insurance companies in selling insurance products and services to the policyholders. Selling insurance products is a smart strategy and the real challenge is to retain and service the customer in the vibrant multiplayer competitive industry. Agents serve as the kingpin for insurance companies seeking to provide traditional and innovative products, and focal points for customers seeking to procure insurance coverage and long term saving.

Perception is the process of attaining awareness or understanding of the environment by organizing and interpreting sensory information. All perception involves signals in the nervous system, which in turn result from physical stimulation of the sense organs. Perception is not the passive receipt of these signals, but can be shaped by learning, memory and expectation. The main objectives are To understand the agents perception towards UIIC To analyse the welfare measures of agents in United India Insurance To analyse the present status of agency after the invention of UMEX Cell To collect suggestion from the agents for the improvement of UMEX Cell The type of the study is descriptive in nature, sample technique used is census sampling, the sample size is 120 agents, the primary data is collected through questionnaire and the secondary data are collected through journals, articles, internet, and the tools used are percentage analysis, factor analysis, and chi-square. The Findings are related to the demographic factors of the respondents, factor analysis is used for finding the most contributing factors and also analysis are made to check whether there is significance relationship between the demographic factors and the most contributing factors. The suggested recommendations are the company may concentrate more on providing in-depth knowledge about the new policies so that the agents can interact with the customers clearly and easily, the motivation factors could be improved because it will boost up the

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agents to give their abilities and involvement in their work for the development and growth of the company, the company could concentrate on individual attention towards the agents. So that they can be free enough to suggest their ideas for the improvement of the company, the UMEX system could improved through online UMEX system. So that the agents can explain their problems through internet and mobile phones and get quick solution for their problems.

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TABLE OF CONTENTS

Chapter No. 1 INTRODUCTION

Title

Page No. 1 1 1 4 9 9 9 10 10 11 12 12 14 15 16 17 17 18 19 23 43 43 46 i ii

1.1 Introduction to the Concept of Study 1.2 Theoretical Background of the Study 1.3 Review of Literature 1.4 Statement of the problem 1.5 Objectives of the study 1.6 Scope of the study 1.7 Methodology 1.8 Limitations 1.9 Chapter Scheme 2 ORGANIZATION PROFILE 2.1 History of the organization 2.2 Management 2.3 Organization Structure 2.4 Products Profile and Market potential 2.5 Competitive strengths of the company 2.6 Future Plans 2.7 Description of various functional areas 3 4 5 MACRO-MICRO ECONOMIC ANALYSIS DATA ANALYSIS AND INTERPRETATION CONCLUSION 5.1 Results and discussion 5.2 Recommendations APPENDIX REFERENCES

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LIST OF TABLES Table No. Title PERCENTAGE ANALYSIS 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 4.11 4.12 4.13 4.14 4.15 4.16 4.17 4.18 4.19 Gender of the respondents Age of the respondents Educational Status of the respondents Living Status of the Respondents Marital Status of the Respondents Work Experience of the respondents Awareness about UMEX Comfortable Language for the Agents Career in the same field Staff Co-ordination Factors Customer Service Factors Competitive Advantage Factors Material Hallmark Factors Promising Products and Process Factors Service Enhancement Factors Exclusive Attention Factors Individual Attention Factors Attitude Factors Motivation and Reward Factors 23 24 24 25 26 26 27 27 27 28 29 29 30 30 31 32 32 33 34 Page No.

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FACTOR ANALYSIS 4.20 4.21 4.22 4.23 KMO and Bartlett's Test Communalities Total Variance Explained Rotated Component Matrix CHI-SQUARE 4.24 4.25 4.26 4.27 4.28 Relationship between Age and Online Motor Policy Relationship between Age and Operating Hours Relationship between Experience and Operating Hours Relationship between Experience and individual Attention Relationship between Experience and Periodic Refresher Courses Relationship between age and Periodic Refresher Courses 40 40 41 41 41 34 35 36 37

4.29

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LIST OF FIGURES

Figure No. 2.1 4.1 4.2 4.3 4.4 4.5 4.6 Organization Structure Gender of the respondents Age of the respondents

Title

Page No. 15 23 24 25 25 26 37

Qualification of the respondents Living Status of the respondents Working Experience of the respondents Screen Plot