A PROJECT REPORT ON

RELIANCE LIFE INSUCERCE

SUBMITED BY:-
NAM:-SUBHAJ1T GOSWAM1
ROLL NO: DURD BM 2DDSJD9
RG.NO: 2DJ4 o] 2DD?-2DDS
CONTESTS:-
AcknowIedgement.
W Introducction/Bacground
History of Life Insurance.
Insurance in India.
About Insurance.
Need of Life Insurance.
Insurance Penetration
. Company ProfiIe
_ Background
_ List of some Competitors of RELIANCE LILE INSURANCE.
_ Products Offered.
_ Tax Benefits.
. Justification / Purpose
. Objective. . Market Strategies. . Advisership.
. Mode Of Data CoIIection. . Research MethodoIogy.
. Present market share of various Life Insurance. .Findings.
.ConcIusion.
. BibIiography. . Proferma of Questionnaire.
ACKNOWLEDGEMENT
W I HumbIy take this opportunity to thank (RELIANCE LIFE
INSURANCE) for giving me the scope to work with the company and
success-fuIIy compIeting project work which is a part of our course
curricuIum. I am thankfuI to the entire marketing department of (RELIANCE
LIFE INSURANCE) & speciaIIy the BRANCH MANAGER Mr.
& most importantIy to my ASSOCIATE MANAGER Mr. ANIL KUMER MALI,
without whose guidance it was hardIy possibIe for me to take the project.
W I am aIso thankfuI to the facuIty members of my Institution who
have aIso heIped me with their best efforts. I wouId be very gratefuI to Sir.
Partho Ghosh, for giving me his precious time & support in compIeting my
project.
W ...................
SUBHAJIT GOSWAMI
DURGAPUR INSTETUTE OF MANAGEMENT(DIM)
HISTORY OF LIFE INSURENCE
W The earIiest type of LIFE INSURANCE was started by the Greeks
& Romans. AII surviving members made contribution for the buriaI
cost a member. In case of the death of a member the cost of buriaI was
made out of the contributed fund.
W In the 17
th
century, the Tontine Annuity system was introduced
where associations of individuaIs were formed without any reference
to ago, & a fund was created by equaI contributions from each
member. The sum coIIected was invested, & at the end of each year
the interest was divided among the survivors. The Iast remaining
survivors received both the year`s interest & the entire amount of
principIe.
. The first org. LIFE INSURANCE Co, was founded in 1759 in
PhiIadeIphia, in North America. SubsequentIy, over the past three
countries, numerous LIFE INSURANCE Co sprung up, making LIFE
INSURANCE a popuIar tooI for protection coupIed with investment.
INSURANCE in INDIA
W The British introduced INSURANCE in
INDIA in the beginning of the 19
th
century. In
1818, a British firm caIIed ORIENTAL LIFE
INSURANCE Co was estabIished. Later, the
Bombay LIFE INSURANCE Co was estabIished
in 1823. In 1874, the OrientaI Government
Security Life Assurance Co was set up. The
mismanagement & misutiIization of funds Ied
to the nationaIization of Insurance Business in
1956. Five decades after nationaIization & post
IiberaIization in 2000, today there are over 14
Life Insurance Co in India.
INSURANCE PENETRATION INTERNATIONAL
COMPOSITIOHN
Countries
Insurance Penetration
(Premium as% of GDP
2000)(Non-Iife+Life)
Insurance Penetration
(Premium as % of GDP
2001)(Non-Iife+Life)
United States 8.76 8.97
Canada 6.56 6.42
BraziI 2.11 2.14
United Kingdom 15.78 14.18
Germany 6.54 6.59
India 2.32 2.71
China 1.79 2.20
South Africa 16.86 17.97
AustraIia 9.41 9.15
ABOUT INSURANCE
PRltClPlF 0F uTH0ST 6000
FAlTH.
As for INSURANCE contracts,
the product soId in intangibIe.
W It cann`t be seen or feIt. Moreover,
most of the facts reIating to heaI,
habits personaI history & famiIy
history are known to one part onIy,
the prosper. The Insurer can aIso
know most of these facts onIy if the
Iaw imposes a greater duty on these
parties to an INSURANCE contract
than in the case of other
commerciaI contracts.
W
PRltClPlF 0F
ltSuRAlF
ltTFRFST.
The Insurance Act, 1938
does not define insurabIe
interest. InsurabIe interest is
said to exist when the
person insuring stand to
Iose if the insured again
occurred. It is presumed that
a person has insurabIe
interest in his own Iife to an
unIimited extent. EmpIoyees
have insurabIe interest in the
Iife of empIoyment contract
countries.
NEED OF LIFE INSURANCE
W Life Insurance has come a Iong way from the earIier day when it
was originaIIy conceived as a risk covering medium for short period of
time, covering temporary risk situation .
1.FltAtClAl lt0FPFt0FtCF.- One needs Life Insurance because
typicaIIy the need for income continues for those who are financiaIIy
dependent on him/her, but there is no guarantee one's abiIity to earn
consistentIy & for the rest of his/her Iife.
2.tFw 6FtFRATl0t FAHllY SYSTFH.- This need has become even
more important due to steady disintegration of the prevaIent joint famiIy
system, & emergence of nucIear famiIies. The need to protect the famiIy's ever
growing needs is why one needs of the famiIy.
3.TFHP0RARY tFF0S / THRFATS.- The originaI purpose of LIFE
INSURANCE remains an important eIement, nameIy providing for repIacement
of income on death etc.
4.RF6ulAR SAvlt6S.- Providing for one's famiIy & oneseIf, as a
medium to Iong term exercise. This has become reIevant in recent
time as peopIe seek financiaI independence for their famiIy.
W
5.ltvFSTHFtT.- Put simpIy, the buiIding up of savings whiIe
safeguarding it from the ravages of infIation. UnIike reguIar savings
products, investment products are traditionaIIy Iump sum
investments, where the individuaI makes a one off payments.
6.RFTlRFHFtT.- Provisions for Iater years becomes increasingIy
necessary, especiaIIy in a changing cuIture & sociaI environment. One
can buy a suitabIe insurance poIicy which wiII provide periodicaI
payments in one's oId age.
ltTF6RATF0 FltAtClAl PlAttlt6
1.I!!I`
!.'Il` I!!I`
I!...I` !I.lIlI`
I!...I` !!!.!!!
!I!!.!..
..`I`
BI1IBIMIN1
CMIIOBIN
IOICA1ION
ASSI1 CBIA1ION
!.I``!'!`
VABIOIS INVIS1MIN1
OP1ION 1O CBIA1I
WIAI1M.
.`I`
I``!'!`
I!!I`
.l !!lI.`! lI!! I`!.`!

1he nume BIIIANCI" lx ull tn Lnnw ubnut hlx

BIIIANCI IIII INSIBANCI Cn". Irnm the nume
we cun underxtund thut thlx cnmpuny cun be relluble
Irnm nther prlvute cnmpunlex ln the murLet.
BIIIANCI IIII INSIBANCI Cn" hux
been xturt ln Indlu nn 6
th
Oct 200.1he grnwth nI thlx
cnmpuny lx I4 ut the xturtlng tlme but nnw lt hux been
reuched tn 49.1hlx cnmpuny'x prexent xhure ln the
murLet lx I0.. 1hlx cnmpuny hux xpreud hlx brunchex
ln ull nver Indlu ut u huge umnunt. In prexent lt hux II4
brunchex ln ull nver the Indlu.
lI ! '! 'I!I! !
!!lI.`! lI!! I`!.`!
I. .IlIe Inxurunce Cnrp nI Indlu JGnvt.
IndertuLen).
2. ICICI PBIOIN1IAI.
. Bujuj Alllunz IlIe Inxurunce Cn.
4. Blrlu Sun IlIe Inxurunce Cn.
. Mux New YnrL IlIe Inxurunce Cn.
6. MOIC Stundurd IlIe Inxurunce Cn.
/. ING Vyuxu IlIe Inxurunce Cn.
S. SBI IlIe Inxurunce Cn.
9. 1utu AIG IlIe Inxurunce Cn.
I0. AVIVA.
I!! ! !! 'I.``
I. BIIIANCI SIPIB INVIS1ASSIBI
PIINJBSIP).
2.BIIIANCI Ilxed Plun.
.BIIIANCI Chlld Plun.
4.Meulth & Weulth Plun.
.BIIIANCI Penxlnn Plun.
6.BIIIANCI Premler IlIe.
/.BIIIANCI 1erm Plun.
S.BIIIANCI Invextment Plun.
9.Credlte Guurdlun Plun.
I0.Mnney BucL.
!.!II`.l I!!
W 1rudltlnnul Prnductx ure thnxe pnllclex
whlch cnverx the trudltlnnul nnrmx und cnndltlnnx
nI IIII INSIBANCI POIICY.
1hexe ure mnre xlmllur tn the IIC
pnllclex. In BIIIANCI IIII INSIBANCI
there ure muny trudltlnnul prnductx uvulluble
llLex ...
CMIIOS PIAN, MONIY BACA, etc..
1hexe pnllclex ure buxlcully wlth
prnIlt plunx und the uppllcutlnn vulue dependx
upnn the bnnux declured ut the end nI the
pnllcy yeur.
1he xurrender vulue Inr thlx
plunx ure uvulluble uIter the
rd
yeur. Puld up
vulue ulxn there ln 1OIP.
RFllAtCF SuPFR ltvFST ASSuRF PlAt
I.1np-up Iuclllty lx uvulluble tn lncreuxe lnvextment cnmpnnent
by muxlmum nI 2 nI the regulur premlum puld tlll thut tlme.
2. Swltchlng there ure 2 Iree xwltchex uvulluble under thlx
plun durlng uny pnllcy yeur.
. Ilexlblllty tn chnnxe ynur Sum Axxured between tlmex tn
20 tlmex nI unnuul premlum.
4. Premlum Bedlrectlnn help ynu tn lnvext ynur Iuture
premlum lntn Iund nptlnnx buxed nn ynur rlxL cupuclty.
. Settlement Optlnn prnvldex the Iuclllty tn recelve the muturlty
prnceedx ln perlndlc lnxtullmentx wlthln u muxlmum nI yeurx
Irnm the dute nI muturlty.
6. Ixchunge Optlnn lx uvulluble uIter cnmpletlnn nI three pnllcy
yeurx Irnm the dutu nI cnmmencement nI the pnllcy.
/. Surrender lx ullnwed uIter Ilrxt three pnllcy yeurx & ut nn
cnxt uIter
th
pnllcy yeur.
S. Optlnnul Blder BeneIltx Bellunce Mujnr Surglcul BeneIlt
Blder, Bellunce Crltlcul CnndltlnnxJ2)Blder, Bellunce 1erm
IlIe Inxurunce BeneIlt Blder, Bellunce Accldentul Oeuth &
1ntul & Permunent Olxublement Blder.
RFllAtCF PRFHlFR llFF
In Bellunce Premler IlIe 94 nI nur premlum lx lnvexted tnwurdx
ynur
xuvlng Iund. Ax u rexult, ynu xuve mnre wlth the xume premlum
lnvextment. And thut'x nnly Inr the Ilrxt yeur. Irnm the xecnnd yeur
nnwurdx, there ure nn ullncutlnn churgex nn ynur premlum. Whlch
meunx, I00 premlum lx ullncuted tn ynur xuvlngx Iund! It dnexn't get
uny better!
Aey Ieuturex:-
Very hlgh ullncutlnn nI 94 nI premlum durlng the Ilrxt yeur.
I00 ullncutlnn durlng the xecnnd & xubxequent yeurx.
Chnlce nI u wlde runge nI Iund nptlnn tn cuxtnmlze the plun tn xult ynur rlxL
uppetlte.
1ux BeneIlt I/S S0C & I0JI0O) nI the Incnme 1ux Act, I96I.
RFllAtCF CHll0 PlAt.
BIIIANCI CMIIO PIAN BIIIANCI CMIIO PIAN" lx un lnvextment plun dexlgned tn meet ynur
chlld'x Iuture Ilnunclul needx. It'x u plun thut glvex ynur chlld the uzuudl" tn
reullze hlx dreumx. 1he plun lx purtlclputlng plun wlth u I-duy Iree lnnL
perlnd.
Whn cun uvull nI thlx plunP" Whn cun uvull nI thlx plunP"
Mnw nld the chlld huve tn be tn uvull nI thlx plunP
Mlnlmum uge- 0yeur.
Muxlmum uge-I/yeurx.
Inr whut term cun I uvull nI thlx plunP" Inr whut term cun I uvull nI thlx plunP"
I0-0 yeurx.
Whut lx the muxlmum xum uxxured ullnwed under thlx plunP" Whut lx the muxlmum xum uxxured ullnwed under thlx plunP"
Bx.2,00,000.
HFAlTH & wFAlTH PlAt
MIAI1M & WIAI1M PIAN" MIAI1M & WIAI1M PIAN" lx u lnvextment plun where ynu
cun tuLe u pnllcy Inr ynur Meulth ux well ux Weulth ulxn. It'x u plun
thut glvex ynu mnre encnuruge tn xpend ynur llIe, wlth nut uny tenxlnn
nI uny uccldent nn ynur llIe.
`! .` .`.Il ! !I Il.`:` `! .` .`.Il ! !I Il.`:`
Mnw nld ynu huve tn be tn uvull thlx plunP
Mlnlmum uge 0 yeur.
Muxlmum uge 6 yeurx.
!! `!. !!' .` ` .`.Il ! !I Il.`:` !! `!. !!' .` ` .`.Il ! !I Il.`:`
- yeurx.
.!`.`.! .!`.`.!
It prnvldex ynu rlxL cnveruge ux well ux ynu lnvexted xum uxxured
prnIlt ulxn, xn thlx plun lx culled Meulth & Weulth Plun.
S0HF H0RF P0llClFS
MONIY BACA PIAN:
1hlx plun lx nld plun uxed by every prlvute
cnmpunlex. But BIIIANCI IIII INSIBANCI
Cn" hux luunched thlx plun by mndlIylng the whnle
plun.
It prnvlde huge beneIlt tn the cuxtnmerx
thnxe whn wuntx tn lnvext mnney ln thlx plun. It ulxn
cnvered the cuxtnmer llIe rlxL ulxn.
CBIOI1 GIABOIAN PIAN:
1hlx plun hux been newly luunched ln the
murLet. It prnvldex beneIltx ux well ux llIe cnveruge tn
the cuxtnmer whn purchuxed thlx plun.
utlT lltKF0 PlAt
It lx u unlt llnLed lnxurunce plun. A unlt
llnLed plun lx the udvuncement nI trudltlnnul
lnxurunce pnllcy. Inder thlx plun u perxnn
cun lnvext hlx nr her mnney ln murLet
xecurltlex wlth thelr llIe lnxurunce cnveruge.
Inlt llnLed plunx cuxtnmerx mnney lx
lnvexted ln dlIIerent Iundx nI dlIIerent
cnmpunlex. Ax the mnney lx lnvexted ln tnp
blue cnmpunlex, the rute nI the returnx cun be
hlgher. Mnre nver wlth thlx lnvextment, u
cuxtnmer cun lnvext Ilexlbly wlth mulntulnlng
thelr llquldlty. 1hlx lnvextmentx ure very
trunxpurent tn the cuxtnmerx & they get
dlIIerent nptlnnx tn lncreuxe thelr returnx &
mulntuln thelr llquldlty.
.` l!`!!I ` I`!.`!
I!`I` Il.`
W IlIe Inxurunce & retlrement plunx ure eIIectlve wuyx tn
xuvlng tuxex. 1he tux breuLx thut ure uvulluble under nur vurlnux
lnxurunce & penxlnn pnllclex ure dexcrlbed belnw:-

I. Our IlIe Inxurunce Plunx ure ellglble Inr u

deductlnn I / S
S0C
2. Our penxlnn plunx ure ellglble Inr u deductlnn
S0CCC.
. Our heulth rlderx ure ellglble Inr deductlnn I / S
S0O.
4. 1he prnceedx nr wlthdruwulx nI nur IIII
INSIBANCI POIICIIS ure exempt I / S I0JI0O). Subject tn
nnrmx prexcrlbed ln thut xectlnn.
uSTlFlCATl0t & PuRP0SF
MurLetlng xervey entullx un exerclxe tn Lnnw the murLetublllty nI u
prnduct nr u xet nI prnduct nI u purtlculur cnmpuny. One nI the bext wuyx tn
underxtund the cnnxumer'x perceptlnn ubnut u prnduct lx tn curry nut
murLetlng rexeurch.
Belng u purt nI my xtudy B.B.A ut Bunwurllul Bhulntlu Cnllege under
Burdwun Inlverxlty , I hud the nppnrtunlty nI currylng nut u murLet xervey
Inr Ilndlng nut murLet pntentlulx nI BIIIANCI IIII INSIBANCI
Cn".
Inr the prnject I hud chnxen the lnxurunce xectnr bcnz wnrld nver the
lnxurunce xectnr cnnxtltutlnn u mujnr xegment nI the Ilnunclul xervlcex
lnduxtry & pluyx u Ley rnle ln ecnnnmlc develnpment. Wlth recent npenlng up
the ecnnnmy und ulxn the lnxurunce xectnr by the Gnvernment nI Indlu hux
rexulted ln mnre purtlclputlnn by the prlvute & glnbul pluyerx, Inr whlch the
lnxurunce lnduxtry lx gnlng tn wltnexx phennmenul grnwth ln termx nI bnth
numberx nI new entruntx & luunchlng nI new lnxurunce prnductx & xervlcex.
Aguln lnxurunce buxlnexx lx u xervlce lnduxtry thut rellex heuvlly nn the
murLetlng Iunctlnn Inr prnmntlng und xelllng ltx prnductx. IIIectlve
murLetlng xtruteglex & nperutlnnx, xtrnng dlxtrlbutlnn netwnrL, cnmpetltlve
prlclng etc, ure vltul Inr the xuccexx nI the lnxurunce buxlnexx.
PR0FCT 0FCTlvF
I. 1n xtudy & unulyze the pulxe nI the Inxurunce MurLet ln
AnlLutu.
2. 1n muLe u xtruteglc & unulytlcul xtudy ubnut BIIIANCI
IIII INSIBANCI" ux nne nI the grnwlng & leudlng
Inxurunce cnmpunlex Indlu.
. 1n guln u pructlcul expnxure nI the rnle ux u Sulex munuger
depurtment nI murLetlng.
4. 1n huve u Lnnwledge nI the cnrpnrute culture & ltx
envlrnnment.
. 1n xtudy the cnmpuny & lt recrultment methndnlnglex nI
Ilnunclul Advlxnrx.
6. 1n xtudy & unulyze the cnntrlbutlnn nI quullty udvlxnrx
Irnm bnth the mlddle upper mlddle cluxx & the upper
xegmentx nI the xnclety.
/. 1n xtudy & unulyze the beneIltx enjnyed by the cnmpuny
thrnugh recrultment nI quullty udvlxnrx.
HARKFT STRATF6lFS
MurLetlng ut BIIIANCI IIII INSIBANCI"
cnverx un urruy nI uctlvltlex xuch ux udvertlxlng,
brundlng, murLet develnpment, cunnel xuppnrt, dlrect &
ulllunce murLetlng & cnrpnrute cnmmunlcutlnn. 1he
udvertlxlng & brundlng xectlnn hux xchedulex nI
udvertlxlng cumpulgnx & u brundlng xectlnn hux
xchedulex nI udvertlxlng cumpulgnx & u detulllng nn
whut BIIIANCI" cnrpnrute ldentlty xtundx Inr. 1hlx
xectlnn ulxn detullx the brundlng ucrnxx trulnlng &
udvertlxlng cnlluterulx wlth reIerence.

Olrect chunnel cnmprlxex dlrect

murLetlng & ulllunce murLetlng. Olrect murLetlng tupx
dutubuxex tn generute hlgh quullty Inr prnIltuble
buxlnexx. Alllunce murLetlng xeeLx tn be up wlth chunnel
purtnerx thut huve xynerglex wlth BIIIANCI" &
develnp prngrummed thut beneIltx the cuxtnmer,
BIIIANCI" & the chunnel purtnerx.
A0vlSFRSHlP
At BIIIANCI," they belleve thut thelr Advlxnrx ure thelr umbuxxudnrx tn
the cuxtnmerx. 1hey ure the Ley xnurce Inr the nrgunlzutlnn & ure
cnntlnutlng llnL wlth thelr cllent. Sn they tuLe u lnt nI cure ln recrultlng &
develnplng thelr Advlxnrx, Inrce tn xet hlgher xtundurdx nI quullty ln xervlce
& xulexmunxhlp.
Snme nI the quulltlex they lnnL Inr ln tlme nI the
recrultment:-
I. SelI mntlvutlnn.
2. A muxter cnmmunlcutnr.
. A gn-getter.
4. A gruduute.
AIter the recrultment, udvlxnrx gn thrnugh u trulnlng prngrumme. A I/
duyx trulnlng xchedule cnverx the mundutnry IBOI trulnlng
requlrementx & BIIIANCI" trulnlng mndule.. AIter the trulnlng they
huve tn xeut ln u exumlnutlnn. AIter dnlng puxx ln the exumlnutlnn the
udvlxnrx get thelr llcenxe. Irnm thut they cun xturt thelr buxlnexx.
0 0F THF A0vlS0RS.- Advlxnrx Iunctlnn lx tn prnxpect u cnnxumer,
cnnvlnce hlm/her & clnxe the xule. It lx u prextlglnux & cnncept nrlented jnb.

H00F 0F 0ATA C0llFCTl0t

1. I!I'.!` !.. !! 1he prlmury dutu wux the relevunt
dutu cnllected thrnugh perxnnul vlxlt & phnne cullx. Outu & lnInrmutlnn
hux been cnllected by wuy nI nbxervutlnn, xtructurul lntervlew thrnugh
quextlnnnulrex.
. !`!.!` !.. !! 1he xecnndury dutu Iew Inxurunce
Muguzlne x whlch were nbtulned Irnm the BIIIANCI IIII
INSIBANCI Cn" Bullygunge New MurLet, Amerlcun Centre Ilbrury,
Bunwurllul Bhulntlu Cnllege llbrury & Ilteruture,& the Bequlxlte
Publlxhed Outu. Current murLet repnrt & xnme Ilnunclul detullx Inr
reIerence xtudy und xnme Ilnunclul detullx Inr reIerence xtudy & xnme
publlxhed & unpubllxhed dncumentx. 1he dutu xnurce ure:-
I. 1he Icnnnmlc 1lme.
2. Indlu 1nduy.
. Inxurunce Wutch.
4. Web Sltex:-
www.relluncellIe.cn.ln
www.lntelllgentlnvextment.cnm
RFSFARCH HFTH000l06Y
!! !!!.!! I!!
1.I!ll!' !!!I`II` Attempt hux been mude tn underxtund the
brund lmprexxlnn nI BIIIANCI IIII INSIBANCI" ln relutlnn tn nther
brundx ln the IlIe Inxurunce murLet & tn mntlvute mnre & mnre penple tn jnln
BIIIANCI" ux Advlxnrx.
.!.. ll!I` 1he dutu uxed ln thlx xtudy hux been prlmury ux
well ux xecnndury.
1he Prlmury Outu hux ulded tn underxtund the rexpnnxe & uttltude
nI dlIIerent xegment.
Secnndury Outu cnllected Irnm vurlnux llteruture, repnrt & ulxn
vurlnux webxltex huve helped tn druw up the llIe lnxurunce lnduxtry prnIlle.
!.!!!.!! !!I` Selectlnn lx mude regurdlng the methnd nI rexeurch tn
be udnpted ln the xtudy. Mere the methndx uxed ure Obxervutlnn Methnd &
Perxnnul Intervlewx.
+.l!!`.I`.l '!!! In thlx methnd lnInrmutlnn lx cnllected by
perxnnul nbxervutlnn nI the dlIIerent xegmentx nI penple durlng the lntervlew
prncexx whlch reveulx ubnut thelr behuvlnrul puttern.
PRFSFtT HARKFT SHARF 0F vARl0uS
llFF ltSuRAtCF C0HPAtY
Cnmpunlex
MurLet Shure
ln
J)
Cnmpunlex
MurLet Shure
ln
J)
IIC /. Mux New
YnrL
I
ICICI Pru
IlIe
6 1utu AIG
I
Bel. IlIe Inxu I0. Bujuj Alllunz
2
MOIC Std
IlIe
2
Blrlu Sun llIe 2
Flt0lt6S RF6AR0lt6 ltTFRtAl FACT0RS
I. !!I` `I!!!.I` Securlty" lx un
lmpnrtunt crlterlnn nI humun llIe. It lx u cnmmnn
perceptlnn thut penple Ieur tn lnvext ln prlvute
xectnrx. Slnce luxt 0 yeurx vurlnux prlvute
Ilnunclul cnmpunlex were Inrmed & they cheuted
penple by nnt puylng thelr uxxured umnunt thelr
muturlty. Nnw u duy the lnxecurlty cnmplex xpreud
nut ull nver the murLet. 1hnugh ull nI the prlvute
cnmpunlex ure certlIled by IBOA nnrmx, xtlll mnxt
nI the cnmmnn mun lnvextnrx ure unuwure ubnut
lt. Sn penple llLe tn lnvext ln Gnvt. xectnrx ruther
thun prlvute cnmpunlex.
Ourlng the xurvey nI
220 cuxtnmerx, I wux uble tn Ilnd nut 9S
cuxtnmerx whn thlnL thut BIIIANCI IIII
INSIBANCI COMPANY lx u xecured cnncern
dnex nnt cheut uny wuy.
.!!I.I` Bepututlnn lx nne lmpnrtunt Iuctnr whlch
heuvlly mutterx lI nnex need tn expund nnex nwn xhurex ln termx
nI buxlnexx vnlume. Mulnly by mulntulnlng gnnd cuxtnmerx
relutlnnx, lncreuxlng cnnxumer uwurenexx & lnnLlng tn xutlxIy
cuxtnmerx ux per thelr xervlce requlrementx BIIIANCI
IIII INSIBANCI COMPANY" cun lncreuxe thelr
repututlnn level.
Ourlng my xurvey nI 220 cuxtnmerx, I wux uble
tn Ilnd nut nnly 90 cuxtnmerx whn ruted BIIIANCI IIII
INSIBANCI Cn" ux reputed lnxurunce cnmpuny.
!. l!!! !!!! !!' !!!
'I.`I! Penple llLe tn lnvext thelr mnney
ln thnxe cnmpunlex whlch ure glvlng mnre
beneIltx und prnIltx. BIIIANCI IIII
INSIBANCI Cn" & ull nther prlvute lnxurunce
ure nIIerlng mnxt xlmllur Llnd nI prnduct beneIltx.
Sn BIIIANCI IIII INSIBANCICn" hux tn
lncreuxe the prnIltublllty level Inr the cuxtnmerx,
whlch wlll Inrce them tn lnvext ln INSIBANCI
Cn" ruther thun nther cnmpunlex. BIIIANCI
IIII

Ourlng the xurvey, nut nI

220 cuxtnmerx nnly 9 cuxtnmerx xutlxIled wlth
the prnductx & thelr beneIltx nIIered by the
BIIIANCIIIIIINSIBANCI Cn".
Flt0lt6S RF6AR0lt6 FXTFRtAl
FACT0RS
I. '.!!I` !.!I!:-
Glnbullzutlnn hux
brnught xeverul chungex ln the xnclety. 1urgetlng
xnme purtlculurx xegment dnex nnt brlng ln
prnIltublllty ut u greuter level. BIIIANCI IIII
INSIBANCI Cn", hux mulnly Incuxed nn nne
purtlculur xegment exp:- tnp level. 1hlx lx the ureu
where BIIIANCI" hux tn wnrL upnn. It hux tn
expund ltx mnde nI nperutlnn tn reuch nut mlddle
level lnvextnrx. II BIIIANCI IIII
INSIBANCI Cn" udnpt thlx xtrutegy then thlx wlll
be helpIul Inr the cnmpuny tn xtep nne xtep uheud nI
ltx cnmpetltnrx.
Sw0T AtAlYSlS
!!`!
1.WnrLlng Inr Brund nI
BIIIANCI".
2. Gnnd 1rulnlng Iucllltlex
by the cnmpuny.
. Gnnd udmlnlxtrutlve
xetup.
4. Wlde rung nI Prnductx.
. Gnnd lncentlve xchemex
nI the cnmpuny.
6. Mlgh nperutlnnul
eIIlclency.
/. Gnnd bucL up & uIter
xulex xervlcex by the
cnmpuny.
S. Ynung, enthuxluxtlc &
cnmpetent xtuII.
. `!.`!
I. Inw cuxtnmerx
relutlnnxhlp.
2. Bellublllty & uxxurunce ure
yet tn be prnved.
. Cnnxlxtency & credlblllty
ure yet nnt texted.
4. PrnIexxlnnul hux llttle tlme
tn xpure Inr the lnxurunce
uctlvltlex .
. Very llttle perxnnul
lnvnlment by the
prnIexxlnnulx ln prnvldlng
xervlce tn the cllentx.
0PP0RTutlTlFS
I. Muge murLet pntentlul ln term nI lnxuruble pnpulutlnn vx. lnxured
pnpulutlnn. It lx extlmuted thut the number nI lnxuruble pnpulutlnn lx
00 mllllnn. JIndlu).
2. Inxurunce uwurenexx hux been mun Inlded ln the wuLe nI npenlng
up nI the lnxurunce xectnrx. Sn grnwth nppnrtunltlex ure very hlgh.
. Schemex ure hlghly xultuble Inr hlgher ux well ux lnwer lnvextnrx.
4. Glvex rlxL cnveruge plux multlple lnvextment nptlnn.
. InInrmutlnn gutherlng & envlrnnment xcunnlng much euxler wlth
the help nI lnInrmutlnn technnlngy.

THRFATS.-
Other prlvute lnxurunce cnmpunlex ure cnnxlxtently lmprnvlng thelr
xervlcex by belng uggrexxlve ln thelr upprnuch & uttructlng
cuxtnmerx.
C0tCluSl0t
W Irnm the textuul prexentutlnn & tublex xhnwn under 'cnmpututlnn & dutu
unulyxlx' lt lx cleur thut xlnce xturtlng ltx buxlnexx Irnm the yeur 200,
BIIIANCI IIII INSIBANCI Cn" uchleved ltx grnwth ln murLet xhure
nn I0. nn prexent lnxurunce xectnrx whlch lx very much xlgnlIlcunt ln
cnmpure tn nther prlvute lnxurunce cnmpetltnrx. But lt lx ulxn true; thlx
grnwth rute lx Iur behlnd thun the prexent grnwth rute nI IIC whlch lx
/. murLet xhure nI lnxurunce xectnrx.
Althnugh BIIIANCI IIII INSIBANCI Cn" ulreudy cuptured
the 49 murLet xhure ln cnmpurlxnn tn the rext nther prlvute lnxurunce
cnmpunlex.
Nnw tn IulIlll the Iuture nppnrtunlty tn lncreuxe the murLet pntentlulx,
BIIIANCI IIII INSIBANCI Cn" xhnuld huve tn tuLe relutlve xtepx.
1he cnmpuny hux un nppnrtunlty nI 9I.2 lx cuptured by IIC. Sn ut prexent
pnxltlnn BIIIANCI" huve tn Incux nn the nppnrtunlty nI II tn lncreuxe
the grnwth rute nI thelr buxlnexx.
Wlth the help nI the quextlnnnulre I huve trled tn uxxlmllute lnInrmutlnn thut
cun thrnw llght nn the cuxtnmer'x perceptlnn.
@ Mnxt nI lntervleweex were nnt uwure nI the pluyerx ln the lnxurunce
xectnrx. Senlnr & Mlddle uged emplnyeex xtlll belleve wlth u Gnvt. Cn'x ux lt
lx lexx rlxLy & relluble.
@ Mnxt nI the lntervleweex runLed rellublllty & xecurlty mnre lmpnrtunt
then prnIltublllty, when uxLed tn chnxe u purtlculur cnmpuny.
RFC0HHFt0ATl0t
@ BIIIANCI IIII INSIBANCI Cn" hux tn xet up the
exumple nI rellublllty nI ltx brundx thrnugh udvertlxement by
the celebrlty perxnnx.
@ 1n uttruct & uwure mnre cuxtnmer, udvertlxement xectnr
xhnuld be develnped. Apurt Irnm 1.V. & Ingllxh newxpuperx,
udvertlxement xhnuld be nn lncul lunguuge newxpuperx, blll
bnurdx,& nenn xlgn bnurdx.
@ Need pnxltlve Incux nn expundlng ltx buxlnexx ln rlch
lnterlnr buxed.
@ Cnmpuny udvlxnrx huve tn tuLe pnxltlve lnltlutlve tn lncreuxe
cnnxumer uwurenexx.
@ 1n hlghly mntlvute the udvlxnrx, lnteructlnn between upper
munugement & cnmpuny udvlxnrx xhnuld be mnre.
@ Ipper munugement xhnuld Incux nn Irequent udvlxnr
develnpment prngrummed.
@ 1he xtruteglex udnpted nr belng udnpted by the prlvute
lnxurunce cnmpunlex ure ulxn tn be mnnltnred.
ll06RAPHY
PBIMABY OA1A:
JBOOAS):-
I. Antler, JPhlllp); MurLetlng Munugement;
2. Suxenu, JBujen); MurLetlng Munugement;
. Inxurunce Beluted BnnLx;
4.Iewlxe & 1hnrnhlll; Bexeurch Methndx Inr buxlnexx
xtudlex;
. Inxurunce Cnnceptx, IBOA...
SICONOABY OA1A SOIBCI : JMuguzlnex):-

I. Inxurunce Wutch, lxxuex ;

2. Indlu 1nduy....
PR0F0RHA 0F THF 0uFSTl0ttAlRS FXFCuTF0
Nume:-
Age:-
Addrexx:-
Occuputlnn:-
Cnntuct nn:-
J1lcL the upprnprlute bnx):-
I. Are ynu uwure ubnut llIe lnxurunce P
Yex...... Nn........
2. On ynu Ieel llIe lnxurunce lx u muxt Inr every bndy P
Yex...... Nn........
. Muve ynu lnxured ynurxelI under IlIe Inxurunce Scheme P
Yex...... Nn........
II 'Yex' then-
4. Nume the cnmpuny / cnmpunlex ynu huve chnxen..
.........................
. Are ynu xutlxIled wlth the xervlcex ynu ure uvulllng Irnm the ubnve
cnmpuny /cnmpunlexP
Yex...... Nn........
II 'Nn' then-
6. Wlll ynu lnxurunce ynurxelI ln the Iuture under IlIe Inxurunce Scheme
P
Nnw........ Iuter....... Never.........
/. On ynu huve uny exlxtlng relutlnnxhlp wlth BIIIANCI IIII
INSIBANCICn" P
Yex......... Nn..........
II 'Yex' then-
S. Whut lx ynur nverull perceptlnn ubnut the prnductx nI BIIIANCI
IIIIINSIBANCI Cn" P
Ixcellent........ Gnnd............
SutlxIuctnry......... Pnnr...........
9. Wnuld ynu llLe tn bulld u relutlnnxhlp wlth BIIIANCI IIII
INSIBANCICn" P
Yex.......... Nn............
II 'Nn' then-
I0. Beuxnnx Inr nnt bulldlng up u relutlnnxhlp wlth BIIIANCI IIII
INSIBANCI Cn" P
...................................

II. Whlch prnmlnent Indlun Inxurunce Cnmpuny wlll ynu chnnxe P

JBunL Irnm I-, belng the muxlmum)
IIC........ BIIIANCI IIII
INSIBANCI"........
ICICI Prudentlul......... 1utu AIG..........
Bujuj SunllIe......... Blrlu SunllIe..........
Oute.........
...................
JSlgnuture nI the
rexpnndent)