KOTAK GROUP COMPANIES

Kotak Mahindra Group is mainly into financial services which encompass insurance, mutual funds, banking, investments and other activities of similar nature. These various financial service activities have been controlled by different subsidiary of Kotak Mahindra group. The group companies and respective activities are given below: KOTAK MAHINDRA GROUP KOTAK MAHINDRA BANK LTD The Kotak Mahindra Finance Ltd established in 1985 which is Kotak Mahindra Groups flagship company got converted into a bank Kotak Mahindra Bank in March 2003. It is the first Indian company to convert into a bank. Its banking operations offer a central platform for customer relationships across the groups various businesses. The bank has a presence in the commercial vehicles, retail finance, corporate banking, treasury and housing finance. KOTAK MAHINDRA CAPITAL COMPANY The Kotak Mahindra Capital Company Ltd is known as Indias premier Investment bank and a primary dealer which is approved by the RBI. KMCCs core business areas include private equity, insurance, mergers and acquisitions, structured finance and advisory services, fixed income securities and principal business.

 KOTAK SECURITIES Kotak Securities Ltd is one of Indias largest brokerage and securities distribution house in India. It has been one of the leading investment broking houses catering to the needs of both institutional and non institutional investor categories with its presence all over the country through franchises and coordinators. Kotak Securities Ltd offers both online and offline services which is based on well researched expertise and financial products to the non institutional investors. KOTAK MAHINDRA PRIME Kotak Mahindra Prime Ltd is formerly known as Kotak Mahindra Primus Ltd. It has been formed with the objective of financing the retail and wholesale trade of passenger and multi utility vehicles in India. Kotak Mahindra Prime offers customers retail finance for both new as well as used cars and wholesale finance to dealers in the automobile trade. KOTAK MAHINDRA ASSET MANAGEMENT COMPANY Kotak Mahindra Asset Management Company is a subsidiary of Kotak Mahindra Bank. It is the asset manager for Kotak Mahindra Mutual Funds. KMMF manages funds in excess of Rs 11000 crores and offers schemes catering to investors with various risk return profiles. It is the first fund house in the country to launch a dedicated gilt scheme investing only in government securities. KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture between KMB LTD and Old Mutual Plc. Kotak Life Insurance help customers to take important financial decisions at every stage in life offering them a wide range of innovative life insurance products, to make them financially independent. 2

INDIAN LIFE INSURANCE INDUSTRY OVERVIEW

All life insurance companies in India have to comply with the strict regulations laid out by Insurance Regulatory and Development Authority of India (IRDA). Therefore there is no risk in going in for private insurance players. In terms of being rated for financial strength like international players, only ICICI Prudential is rated by Fitch India at National Insurer Financial Strength Rating of AAA (Ind) with stable outlook indicating the highest claims paying ability rating. Life Insurance Corporation of India (LIC), the state owned behemoth, remains by far the largest player in the market. Among the private sector players, ICICI Prudential Life Insurance(JV between ICICI Bank and Prudential PLC) and Max New York Life Insurance are the largest followed by Bajaj Allianz Life Insurance Company Limited (JV between Bajaj Group and Allianz). The private companies are coming out with better products which are more beneficial to the customer. Among such products are the ULIPs or the Unit Linked Investment Plans which offer both life cover as well as scope for savings or investment options as the customer desires. Further, these type of plans are subject to a minimum lock-in period of three years to prevent misuse of the significant tax benefits offered to such plans under the Income Tax Act. Hence, comparison of such products with mutual funds would be erroneous.

COMMISSION / INTERMEDIATION FEES

The maximum commission limits as per statutory provisions are:

Agency commission for retail life insurance business:

1st year commission varies from 2% to 40% depends on yhe product and 2nd year onwards it varies from 1% to 7%

Maximum broker commission - 30% However, the above commission may be further subject to the product wise limits specified by IRDA while approving the product.

LIFE INSURANCE
Life insurance or life assurance is a contract between the policy owner and the insurer, where the insurer agrees to pay a sum of money upon the occurrence of the insured individual's or individuals' death or other event, such as terminal illness or critical illness. In return, the policy owner (or policy payer) agrees to pay a stipulated amount called a premium at regular intervals or in lump sums. There may be designs in some countries where bills and death expenses plus catering for after funeral expenses should be included in Policy Premium. As with most insurance policies, life insurance is a contract between the insurer and the policy owner (policyholder) whereby a benefit is paid to the designated Beneficiary (or Beneficiaries) if an insured event occurs which is covered by the policy. To be a life policy the insured event must be based upon life (or lives) of the people named in the policy. LIFE INSURANCE IN INDIA Life Insurance in India was nationalised by incorporating Life Insurance Corporation (LIC) in 1956. All private life insurance companies at that time were taken over by LIC. In 1993 the Government of Republic of India appointed RN Malhotra Committee to lay down a road map for privatisation of the life insurance sector. While the committee submitted its report in 1994, it took another six years before the enabling legislation was passed in the year 2000, legislation amending the Insurance Act of 1938 and legislating the Insurance Regulatory and Development Authority Act of 2000. The same year that the newly appointed insurance regulator - Insurance Regulatory and Development Authority IRDA -started issuing licenses to private life insurers.

LIST OF LIFE INSURERS Apart from Life Insurance Corporation, the public sector life insurer, there are 17 other private sector life insurers, most of them joint ventures between Indian groups and global insurance giants. LIFE INSURER IN PUBLIC SECTOR 1. Life Insurance Corporation of India LIFE INSURERS IN PRIVATE SECTOR 1. Bajaj Alliums Life 2. Max New York Life Insurance 3. ICICI Prudential Life Insurance 4. Tata AIG Life 5. HDFC Standard Life 6. Burls Sunlife 7. SBI Life Insurance 8. Kotak Mahindra Old Mutual Life Insurance 9. Aviva Life Insurance 10. Reliance Life Insurance Company Limited - Formerly known as AMP Sanmar LIC 11. Metlife India Life Insurance 12. ING Vysya Life Insurance 13. Max Newyork Life Insurance 14. Shriram Life Insurance 15. Bharti AXA Life Insurance Co Ltd 16. Sahara Life Insurance 17. Future General Life Insurance Co Ltd 18. IDBI Fortis Life Insurance Co Ltd 19. Aegon Religare Life Insurance Co Ltd

OBJECTIVE OF THE STUDY

The following are the main objectives of the mini project: A LEARNING PHASE

The experience of the one month in the company and in the field together is going to be a great learning phase in the project and this also includes getting to know and learn the corporate culture of the work life at Kotak Life Insurance, which will be carried forward as a great strength and achievement for the whole of the career ahead. INTERACTING WITH PEOPLE

Being a Marketing student, meeting people in and out the company would be another main objective and it would help in developing contacts with the people around and it would always helpful in a successful business life. VALUE ADDITION TO THE COMPANY

This project will also result in value addition to the company and it would result in getting more distributors. TIME MANAGEMENT

One of the key resources of any professional is Time. There would be a clear time frame in each and every work of the corporate world. The time taken to do anything is an indicator of the skill of the doer.

RESEARCH METHODOLOGY
The process which works upon is as shown in the figure below.

Define the problem and research objectives

Develop the research plan

Collect the information

Analyze the information

Present the findings

Make the decision/Give solution

DEFINITION OF THE PROBLEM AND THE RESEARCH OBJECTIVES Identification of the problem is thereby realizing the untapped resources. Less awareness among the people about the benefits and the knowledge of the company and its service. DEVELOP THE RESEARCH PLAN The second stage is development of the most efficient plan for gathering the needed information. DATA SOURCES The data gathered, is through the secondary data and the primary data. The Secondary data collected was that which was already collected for another purpose and already exist. Primary data is the data freshly gathered for this specific purpose and the research project. Secondary data has provided a starting point for the research. The normal procedure that is followed to interview people individually to get a sense of people feels about the company and its service. RESEARCH APPROACH The kind of research approach used is the survey research. The survey is helpful learning about peoples knowledge, beliefs, preferences, and satisfaction, and to measure these magnitudes in the general population. RESEARCH INSTRUMENT The research instrument used is the Questionnaire.

SAMPLING PLAN The sample size plan consists of 80 financial distributors in Cochin.The most versatile contact method that could be followed is the personal interviewing. COLLECTION OF INFORMATION The data collection phase is the most delicate and prone to errors. ANALYZE THE INFORMATION The next process is to extract the findings from the collected data. PRESENT THE FINDINGS The last would be to present the findings that are relevant for the decision facing the management. CONCLUSION OR PRESENTING THE SOLUTIONS This would be based on the study would be the last major step to be followed.

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INSURANCE
The Indian insurance sector is on a bull run. The average Indian now spends 5.4 times as much on life insurance as what s/he did seven years ago when the industry was yet to be opened up for private participation. With the largest number of life insurance policies in force in the world, India's insurance sector accounted for 4.1 per cent of GDP in 2006-07, up from 1.2 per cent in 1999-2000, far ahead of China where insurance accounts for just 1.7 per cent of the GDP and even the US where insurance penetration stands at 4 per cent of the GDP. Indians are now setting aside a larger chunk of their income on life insurance when measured as a percentage of GDP. They are allocating a small amount of their take-home to buy insurance products given their rising equated monthly installment (EMI) payments for home mortgage and other loans. The growth in insurance premium collections has spelt an opportunity for the equity market too. The industry's investment in the equity market stood at US$ 38.1 billion and the assets under management were at US$ 152.6 billion as on March 31, 2007. Indian insurance companies recorded a 19.9 per cent growth in premium in dollar terms (adjusted for inflation) in 2006-07, compared to the world market growth rate of 2.9 per cent. This rate of growth of the industry looks particularly impressive when seen against the fact that the combined penetration of both life and non-life is less than 2 per cent of the GDP compared to world average of 7.52 per cent. Clearly, the scope for growth is enormous.

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LIFE INSURANCE Led by the Life Insurance Corporation (LIC), the life insurance industry registered a growth of 110 per cent in fiscal 2006-07, taking the total business to US$ 19.2 billion from the previous year's US$ 9.1 billion. The life insurance market has grown rapidly over the past six years, with new business premiums growing at over 40 per cent per year owing to the entry of a host of new players with significant growth aspirations and capital commitments. The total life insurance market premiums is likely to more than double from the current US$ 40 billion to US$ 80-US$100 billion by 2012, says a study by McKinsey. The study titled 'India Insurance 2012: Fortune Favours the Bold,' expects a rise in premiums between 5.1 and 6.2 per cent of the GDP in 2012 from the current 4.1 per cent driven by greater insurance intensity per capita as the average per capita income increases and rise in penetration in urban and rural areas. The life insurance premium contributions per capita have jumped from a little over US$ 7 in 1999-2000 (pre-liberalisation) to US$ 38.5 in 2006-07. Life insurance penetration in India - which was less than 1 per cent till 1990-91 - increased to 2.53 per cent in 2005, and to 3 per cent in 2006-07. The impetus for growth has come from both public and private insurers. Also, the number of players in this segment has also increased to 17 (16 in private sector), with Life Insurance Corporation (LIC) being the dominant player (market share of about 74 per cent).

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INNOVATIVE TRENDS Insurance in India has been spurred by product innovation, streamlining of sales and distribution channels along with targeted advertising and marketing campaigns. The kid's insurance segment in the insurance sector is witnessing increased activity. Children's products such as ICICI Prudential Life's 'SmartKid', Birla Sun Life's 'Children's Dream Plan', or HDFC Standard 'Life's Young Star Plus', are on a consistent growth path. According to industry estimates, currently, 20-30 per cent of business of many companies comes from children-specific insurance policies alone. Emerging lifestyle trends amid a changing fabric of the Indian society have also modified social and financial behaviour. For instance, an increase in the number of working women has led to a demand for life insurance policies, which in turn has helped women through a micro-entrepreneurship initiative (women have flexibility - managing home and being financially independent as distributors of insurance). The Road Ahead . . . . Market penetration tends to rise as incomes increase, particularly in life insurance. India, with its huge middle-class households and growing economy has exhibited huge potential for this sector. Current estimates say that, for every one per cent increase in the GDP, insurance premiums increase by at least 4 per cent. The domestic insurance industry in India is estimated to be around US$ 60.5 billion by 2010, of which US$ 35 billion will come from rural and semi-urban

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areas. While the life insurance market is expected to grow to US$ 35 billion, nonlife insurance market will touch an estimated US$ 25 billion.

KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD.

Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture between Kotak Mahindra Bank Ltd. and Old Mutual plc. Kotak Mahindra Old Mutual Life Insurance is one of the fastest growing insurance companies in India and has shown remarkable growth since its inception in 2001. At Kotak Life Insurance, we aim to help customers take important financial decisions at every stage in life by offering them a wide range of innovative life insurance products, to make them financially independent. Old Mutual, a company with 160 years experience in life insurance, is an international financial services group listed on the London Stock Exchange and included in the FTSE 100 list of companies, with assets under management worth $ 400 Billion as on 30th June, 2006. For customers, this joint venture translates into a company that combines international expertise with the understanding of the local market.

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PRODUCTS INDIVIDUAL Kotak Smart Advantage Kotak Eternal Life Plans Kotak Platinum Advantage Plan Kotak Headstart Child Plans Kotak Sukhi Jeevan Plan Kotak Privileged Assurance Plan Kotak Term Plan Kotak Preferred Term Plan Kotak Money Back Plan Kotak Child Advantage Plan Kotak Endowment Plan Kotak Capital Multiplier Plan Kotak Retirement Income Plan Kotak Retirement Income Plan (Unit-linked) Kotak Safe Investment Plan II Kotak Flexi Plan Kotak Easy Growth Plan Kotak Premium Return Plan Riders

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GROUP Employee Benefits Kotak Term Grouplan Kotak Credit-Term Grouplan Kotak Complete Cover Grouplan Kotak Gratuity Grouplan Kotak Superannuation Grouplan

RURAL Kotak Gramin Bima Yojana

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TABLE 1 TABLE SHOWING WHETHER THE RESPONDENTS ARE ASSOCIATED WITH KOTAK MAHINDRA GROUP

NO OF RESPONDENTS YES 15

PERCENTAGE 19

NO

65

81

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 81% of the respondents are not associated with Kotak Mahindra group and 19% of the respondents are associated with Kotak Mahindra group. CHART 1

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CHART SHOWING WHETHER THE RESPONDENTS ARE ASSOCIATED WITH KOTAK MAHINDRA GROUP

YES, 19

NO, 81

YES

NO

TABLE 2 TABLE SHOWING WHETHER THE RESPONDENTS HAVE TAKEN LIFE INSURANCE POLICIES

NO OF RESPONDENTS

PERCENTAGE

YES

58

72

NO

22

28

TOTAL

80

100

INTERPRETATION: From the above table it is clear that 72% of the respondents have taken life insurance policies and 28% has not taken life insurance policies. CHART 2

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CHART SHOWING WHETHER THE RESPONDENTS HAVE TAKEN LIFE INSURANCE POLICIES

NO, 28

YES, 72

YES

NO

TABLE 3 TABLE SHOWING WHETHER THE RESPONDENTS ARE AWARE OF THE POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA

NO OF RESPONDENTS

PERCENTAGE

YES

75

94

NO

TOTAL

80

100

INTERPRETATION: From the above table it is shown that 94% of the respondents are aware of the potential of life insurance industry in India and 6% of the respondents are not aware of the potential of life insurance industry in India.

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CHART 3

CHART SHOWING WHETHER THE RESPONDENTS ARE AWARE OF THE POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA

NO, 6

YES, 94

YES

NO

TABLE 4 TABLE SHOWING WHETHER THE RESPONDENTS THINK THAT INSURANCE IS A GOOD INVESTMENT PLAN

NO OF RESPONDENTS

PERCENTAGE

YES

72

90

NO

10

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 90% of the respondents think that insurance is a good investment option and 10% of the respondents think that insurance is not a good investment option.

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CHART 4
CHART SHOWING WHETHER THE RESPONDENTS THINK THAT INSURANCE IS A GOOD INVESTMENT PLAN

NO, 10

YES NO

YES, 90

TABLE 5 TABLE SHOWING WHETHER THE RESPONDENTS HAVE CONSIDERED SELLING INSURANCE AS AN ADDITIONAL BUSINESS OPTION

NO OF RESPONDENTS

PERCENTAGE

YES

36

45

NO

44

55

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 55% of the respondents have considered selling insurance as an additional business option and 45% of the respondents has not considered selling insurance as an additional business option. 21

CHART 5
CHART SHOWING WHETHER THE RESPONDENTS HAVE CONSIDERED SELLING INSURANCE AS AN ADDITIONAL BUSINESS OPTION

YES, 45 NO, 55

YES

NO

TABLE 6 TABLE SHOWING WHETHER THE RESPONDENTS ARE DEALING WITHNOR SELLING LIFE INSURANCE PRODUCTS OF ANY COMPANY

NO OF RESPONDENTS

PERCENTAGE

YES

37

46

NO

43

54

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 54% of the respondents are not dealing with or selling life insurance products of any company and 46% of the respondents are dealing with or selling life insurance products of any company.

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CHART 6
CHART SHOWING WHETHER THE RESPONDENTS ARE DEALING WITH OR SELLING LIFE INSURANCE PRODUCTS OF ANY COMPANY

YES, 46 NO, 54

YES

NO

TABLE 7 CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT THEY CAN EARN UPTO 40% OF THE FIRST YEAR PREMIUM AS COMMISSION

NO OF RESPONDENTS

PERCENTAGE

YES

33

41

NO

47

59

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 59% of the respondents dont know that they can earn upto 40% of the first year premium as commission and 41% of the respondents know that they can earn upto 40% of the first year premium as commission

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CHART 7
CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT THEY CAN EARN UPTO 40% OF THE FIRST YEAR PREMIUM AS COMMISSION

YES, 41

NO, 59

YES

NO

TABLE 8 TABLE SHOWING WHETHER THE RESPONDENTS HAVE HEARD OF KOTAK HEAD START, NO.1 CHILD PLAN RATED BY 'OUTLOOK MONEY'

NO OF RESPONDENTS

PERCENTAGE

YES

25

31

NO

55

69

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 69% of the respondents has not heard of Kotak head start, no.1 child plan rated by 'outlook money' and 31% of the respondents have heard of Kotak head start, no.1 child plan rated by 'outlook money'

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CHART 8
CHART SHOWING WHETHER THE RESPONDENTS HAVE HEARD OF KOTAK HEAD START,NO.1 CHILD PLAN RATED BY 'OUTLOOK MONEY'

YES, 31

NO, 69

YES

NO

TABLE 9 TABLE SHOWING WHETHER THE RESPONDENTS HAVE HEARD ABOUT KOTAK SAFE INVESTMENT PLAN, WHICH INVESTS UPTO 80% OF THE FUND IN EQUITY MARKET, STILL GIVING CAPITAL GUARANTEE

NO OF RESPONDENTS

PERCENTAGE

YES

43

54

NO

37

46

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 54% of the respondents are have heard about kotak safe investment plan, which invests upto 80% of the fund in equity market, still giving capital guarantee and 46% of the respondents has not

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heard about kotak safe investment plan, which invests upto 80% of the fund in equity market, still giving capital guarantee. CHART 9
CHART SHOWING WHETHER THE RESPONDENTS HAVE HEARD ABOUT KOTAK SAFE INVESTMENT PLAN,WHICH INVESTS UPTO 80% OF THE FUND IN EQUITY MARKET,STILL GIVING CAPITAL GUARANTEE

NO, 46 YES, 54

YES

NO

TABLE 10 TABLE SHOWING WHETHER THE RESPONDENTS KNOW ABOUT THE EARNING POTENTIAL BY SELLING LIFE INSURANCE PRODUCTS

NO OF RESPONDENTS

PERCENTAGE

YES

69

86

NO

11

14

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 86% of the respondents know about the earning potential by selling life insurance products and 14% of the

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respondents chart showing whether the respondents dont know about the earning potential by selling life insurance products. CHART 10
CHART SHOWING WHETHER THE RESPONDENTS KNOW ABOUT THE EARNING POTENTIAL BY SELLING LIFE INSURANCE PRODUCTS

NO, 14

YES, 86

YES

NO

TABLE 11 TABLE SHOWING WHETHER THE RESPONDENTS KNOW THAT THERE IS NO CAPITAL REQUIREMENT FOR STARTING INSURANCE DISTRIBUTION

NO OF RESPONDENTS

PERCENTAGE

YES

65

81

NO

15

19

TOTAL

80

100

INTERPRETATION: From the above table it is inferred that 81% of the respondents know that there is no capital requirement for starting insurance distribution and 19% of the

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respondents know that there is no capital requirement for starting insurance distribution. CHART 11
CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT THERE IS NO CAPITAL REQUIREMENT FOR STARTING INSURANCE DISTRIBUTION

NO, 19

YES, 81

YES

NO

TABLE 12 TABLE SHOWING WHETHER THE RESPONDENTS LIKE TO ASSOCIATE WITH KOTAK LIFE INSURANCE

NO OF RESPONDENTS

PERCENTAGE

YES

20

25

NO

60

75

TOTAL

80

100

INTERPRETATION:

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From the above table it is inferred that 75% of the respondents like to associate with kotak life insurance and 25% of the respondents do not like to associate with kotak life insurance. CHART 12
CHART SHOWING WHETHER THE RESPONDENTS LIKE TO ASSOCIATE WITH KOTAK LIFE INSURANCE

YES, 25

NO, 75

YES

NO

FINDINGS

Majority of the customers are not associated with the Kotak group companies. Only 19% are associated with Kotak group companies. It is found that around 72% of the respondents have taken any life insurance policy from several life insurance companies and the rest are not insured. It is found that 94% of the respondents are aware of the potential of life insurance industry in India and 6% of the respondents are not aware of the potential of life insurance industry in India.

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 Majority of the respondents think that insurance is a good investment option because of high returns and less risk. It is found that 55% of the respondents have considered selling insurance as an additional business option and 45% of the respondents has not considered selling insurance as an additional business option. It is found that 54% of the respondents are not dealing with or selling life insurance products of any company and 46% of the respondents are dealing with or selling life insurance products of any company. Almost all the customers are satisfied with services provided by their insurer. Around 59% of the respondents dont know that they can earn upto 40% of the first year premium as commission and 41% of the respondents know that they can earn upto 40% of the first year premium as commission. Majority of the respondents are not aware of Kotak head start, no.1 child plan rated by 'outlook money'. Majority of the respondents have heard about kotak safe investment plan, which invests upto 80% of the fund in equity market, still giving capital guarantee. Majority of the respondents do not want to associate with kotak life insurance.

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SUGGESTIONS

The company has to spend more on marketing expenses to increase awareness among population on Kotak head start, no.1 child plan rated by 'outlook money' and kotak safe investment plan. The company has to identify segments such as NRIs,house wives and pensioners to increase the penetration among life insurance advisors. The company has to concentrate more on acquiring people who are associated with other insurance companies to penetrate the market.

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 The company has to go in-depth into the customer data base of kotak group companies to acquire more customers. Proper advertisements and clear-cut picture about the schemes are to be provided to attract customers.

LIMITATIONS

1. DIFFICULT TO GET APPOINTMENT Getting the appointment to speak about product and company is a Herculean task in the modern world because of the hectic schedule of the business people as the target group is High Net Worth. 2. TIME CONSTRAINT

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For getting better results, the researcher has to schedule their work beyond the allotted time. But this cannot be possible in all circumstances. In many occasions meeting location of the people might be different. This consumes lot of time of a day and it minimizes the work schedule. And there is a big time gap in making a kind of good relationship with customers which makes a strong basement for doing survey. So it is very difficult to get business in initial stages. In this way there is a lose of opportunities for making business. Traveling though out the city and its traffic blocks are another barriers in the survey. 3. SINGLE BRANCH OPERATIONS AND DIFFERENTIATED FACILITIES AND SERVICE Many times the single branch operations are not convenience for the customers especially the people who are doing business with other locations. When there is a company introducing new facilities and service, it takes a quiet bit of time to get faith of the people.

CONCLUSION

On a whole the project is a eye opener towards the practical side of the business scenario. The knowledge acquired through classroom sessions could be put to use in a real practical world. This serves as the right platform for professional development. The first hand experiences of the corporate atmosphere and the culture practiced gave an insight into the true professional attitude.

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As a result of the hard-core work and efforts made t overcome many hurdles and obstacles on the path of the project work, better results are obtained and the company realizes the results of our work through the materialization of sales of their product. Also from the responses of the public that is conveyed to the organization as a part of project work, really help the company in their work process. In this way itself many customer complaints are sold up to a remarkable extent. The types of marketing strategies adopted by us really help the organization to boost up their brand image and there by resulted in better returns.

REFERENCES

BOOKS 1. Marketing Management PHILIP KOTLER 2. Introduction to Quantitative Methods C.R.KOTHARI WEBSITE www.kotak.com

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www.indiainfoline.com www.wikepedia.com

QUESTIONNAIRE
Date of data collection :

Name of the concerned person, designation : Name of the company Contact address 1. Have you associated any way with Kotak Mahindra Group? :

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Yes

no

2. Have you taken life insurance policies? Yes no

If yes, with which company?......................................................... If no, would you like to take now?.................................................. 3. Are you aware of the potential of life insurance industry in India? Yes no

4. Do you think that insurance is a good investment option? Yes no

5. Have you considered selling insurance as an additional business option? Yes no

6. Are you dealing with, or selling life insurance products of any company? Yes no

If yes, with which company?.................................................................. If no,would you like to start insurance distribution?............................... 7. Are you satisfied with the service and support they provide?

36

Yes

no

8. Do you know you that you can earn up to 40% of the first year premium as commission? Yes no

9. Are u aware that there is no capital required for starting life insurance distribution? Yes no

10. Have u heard about Kotak safe investment plan which invest up to 80% of the fund in equity market but still gives capital guarantee? Yes no

11. Have you heard about Kotak Head Start, No.1Child plan in India rated by outlook money? Yes no

12. Would you like to get associated with Kotak life insurance? Yes no

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- Thank you -

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