To Study the Perception and Satisfaction Level of

Policy Holder towards the Service of Reliance

General Insurance
A Project Report Submitted
In the Partial Fulfillment of the Requirements
For the Degree of
Masters of Business Administration

By
Namrata Diwan
(Y142820141)
MBA-1st Semester
Under the Guidance of:
Mr. Ashish Gupta
(Assistant Professor)

Department of Business Management

Dr. Hari Singh Gour Central University
Sagar (MP), India
Year 2014

DECLARATION BY THE CANDIDATE

Dated: _____________
I declare that the Project Report titles To study the perception and satisfaction level
of Policy holder towards the service of Reliance General Insurance is my own work
conducted

under

the

supervision

of

Mr. Ashish Gupta, Department of Business

Management, Dr. Hari Singh Gaur Central University, Sagar.

To the best of my knowledge the report does not my work which has been
submitted for the award of any degree , anywhere.
Name of the student: Namrata Diwan
Signature of the student:
Registration Number
Semester:
Batch:

CERTIFICATE
The project Report Titled To study the perception and satisfaction level of Policy
holder towards the service of Reliance General Insurance Prepared by Namrata Diwan
Under the guidance of Mr. Ashish Gupta sir Assistant Professor Department of Business
Management, Dr. Hari Singh Gour University Sagar (M.P.) For the partial fulfilment of the
Degree of Master of Business Administration is satisfactory.

Signature of the Supervisor: -

Signature of the Examiner:-

Signature of Head of the Department

ACKNOWLEDGEMENT
It is my proud privilege to release the feelings of my gratitude to several persons who
helped me directly or indirectly to conduct this project work. I express my heart full indebtness
and owe a deep sense of gratitude to my teacher and my faculty guide Mr. Ashish Gupta,
Assistant Professor, Dr. Hari Singh Gour Central University Sagar (M.P.), and to my
Project In charge Mrs. Babita Yadav, for their sincere guidance and inspiration in completing
this project.
I am extremely thankful to the Head of the Department Professor Dr. Y.S.
Thakur and faculties of Department Of Business Management Dr. Hari Singh Gour Central
University Sagar (M.P.) for Higher Education for their coordination and cooperation and
thankful for their kind guidance and encouragement.
I am also extremely thankful to all those persons who have positively helped me
and customers who responded my questionnaire, around whom the whole project cycle
revolves.
I also thank all my friends who have more or less contributed to the preparation
of this project report. I will be always indebted to them.
Thanking You
Namrata Diwan
MBA 1st Sem

PREFACE
In this project report every possible effort has been made to highlight the major aspects related to the
topic To study the perception and satisfaction level of Policy holder towards the service of Reliance
General Insurance The deals with the introductory part related to the company.
The based on the research carried out for the project. This tells the details of data, how is it collected,
what are the methods have been used over here, and finally also tell the limitations of the company that were
found during the research work besides the limitation found in undertaking the survey.
This is the most important part of the project as it involves the actual working and findings of the
project.

Table of Contents
Cover Page
Declaration
Certificate
Acknowledgement
Preface
Chapter 1 Introduction
1.1.1 Background of the study
1.1.2 Service sector
1.1.3 Scope of the study
Chapter 2 Review of Literature
2.1 Introduction
2.2 Customer Perception & Satisfaction in General Insurance
2.3 Customer perception in Service sector
2.4. Determinants of Customers Perception
2.4.1 Service Quality and Satisfactory
Chapter3 Industry Analysis and Industry Profile
3.1 Introduction of Indian Insurance Sector
3.1.1 Growth Scenario
3.1.2 Global perception
3.2. Major Private & Public share
3.3 Future Perception
Chapter4. Research Methodology
4.1 Introduction of Research methodology
4.2. Research objectives
4.3 Research Hypothesis
4.3 Sampling Design & Techniques
4.4 Sample Description:
Chapter 4

Data Analysis and Interpretation

Findings
Limitation
Suggestions

Chapter 5

Conclusions
Bibliography
Questionnaire

(i)
(ii)
(iii)
(iv)

CHAPTER-1
INTRODUCTION
1.1 Background Of The Study Service Sector
In 1962, DhirubhaiAmbani started the Reliance Commercial Corporation with the capital of Rs
15000. The primary business of Reliance Commercial Corporation was to import polyester
yarn and export spices. The business was setup in partnership with ChampaklalDamani, his
second cousin. In1965 Champaklal Damani and Dhirubhai ended their partnership and
Dhirubhai started on his own. In1968, he moved to an up market apartment at Alta mount Road
in South Mumbai.Ambanis net worth was estimated at about Rs. 10 lakh by late 1960s.
Initial Public Offering
DhirubhaiAmbani is credited with starting the equity cult in India. More than 58,000 investors
from various parts of India subscribed to Reliances IPOs in 1977. Reliance Industries holds
distinction that it is the only private sector company whose several annual general meetings
were held in stadiums. In 1986, Dhirubhai managed to convince a large no. of first time retail
investors to participate in the unfolding Reliance story and put their hard earned money in the
Reliance Textile IPO, promising them, in exchange for their trust, substantial returns on their
investments. Ambanis net worth was estimated at about Rs.1 billion by early 1980s.
Diversification
Over time Dhirubhai diversified his business with the core specialization being in
petrochemicals and additional interest in telecommunications, information technology, energy,
power, retail, textiles, infrastructure services, capital markets and logistics. The company as a
whole by BBC as a business empire with an estimated annual turnover of $12 million, and an
85,000 strong workforce

Reliance Capital

Reliance
Reliance
General
Mutual fund Insurance
Mutual Fund
Insurance

Reliance
Life
Insurance

Reliance
Reliance
Consum
Money er Finance

Reliance general insurance is one of the leading private general insurance companies of
India, in the present times. It was amongst the first companies to apply for, and obtain, a
license for insurance business, after the liberalization of insurance sector,in 2000. The
company continued to growth with the passing time, widening the scope of its insurance
policies. Today, it offers over 94 customized insurance products catering to need of the
corporate, SME and individual customers. Reliance general insurance also boasts of being
the first insurance company in India to be awarded the ISO 9001:2000 certification across
all functions, processes, products and location pan-India.
Vision
To be an insurer of World Standards and the most preferred choice for clientele at the
domestic and global level.
mission
Companies mission is to keep the customer satisfaction as focal point of all our
operations, adopt the best international practices in underwriting, claims and customer
service, be the most innovative in product development, establish presence all over India,
ensure sustained value addition to all stake holders and to uphold Corporate Value &
Corporate Governance.
Goals
Make affordable insurance accessible to all
Keep customer as focal point for all operations
Protect policy holders interests
Adopt best international practices in claims, underwriting and policy servicing
Be the most innovative in product development
Establish Pan India presence
Growth and innovation
Reliance general insurance company Ltd has grown over time, to set up as many as 2000
offices, which have spread across 173 cities, in 22 states of India. Such a wide distribution
channel network, along with 24x7 customer service assistance and a fully fledged website,
has added to its success. As the same time, the company continuous to launce innovative
products, like Indies first Over-The-Counter health and home insurance policies, to woo
potential customers and keep the present ones satisfies and pleased.

Customer Focus
The brand philosophy of reliance general insurance company is Protecting what u value.
The company aims at helping individuals;Corporates as well as SMEs protect their dreams
and accomplishments; that too though a hassle frees buying process. With the concept of
online buying, Reliance has made it possible for the potential customers to book the
policies from within the confines of their home/office. At the same time, the insurance
company intends to make the claim settlement as prompt, transparent and speedy as
possible.
1.2 SERVICES
Reliance general insurance company offers a wide range of innovative products to the
potential customers. Right from health and home insurance to car/motor and travel
insurance, we can get almost all types of individual policies with reliance, that too as the
premium rate. Apart from that, the company also caters to corporate and SME clients,
providing end to end insurance solutions. The product basket includes fire, engineering,
liability, marine, travel and other types of insurance, for organization risk management.
1.3 Customer Perception Andsatisfaction In Service Sector
Perception is the process by which organisms interpret and organize sensation to produce a
meaningful experience of the world. Sensation usually refers to the immediate, relatively
unprocessed result of stimulation of sensory receptors in the eyes, ears, nose, tongue, or
skin. Perception, on the other hand, better describes one's ultimate experience of the world
and typically involves further processing of sensory input. In practice, sensation and
perception are virtually impossible to separate, because they are part of one continuous
process.
Thus, perception in humans describes the process whereby sensory stimulation is translated
into organized experience. That experience, or percept, is the joint product of the
stimulation and of the process itself. Relations found between various types of stimulation
(e.g., light waves and sound waves) and their associated percepts suggest inferences that
can be made about the properties of the perceptual process; theories of perceiving then can
be developed on the basis of these inferences. Because the perceptual process is not itself
public or directly observable (except to the perceiver himself, whose percepts are given
directly in experience), the validity of perceptual theories can be checked only indirectly.

Historically, systematic thought about perceiving was the province of philosophy.

Philosophical interest in perception stems largely from questions about the sources and
validity of what is called human knowledge (epistemology). Epistemologists ask whether a
real, physical world exists independently of human experience and, if so, how its properties
can be learned and how the truth or accuracy of that experience can be determined. They
also ask whether there are innate ideas or whether all experience originates through contact
with the physical world, mediated by the sense organs.
As a scientific enterprise, however, the investigation of perception has especially developed
as part of the larger discipline of psychology. For the most part, psychology bypasses the
questions about perceiving raised by philosophy in favors of problems that can be handled
by its special methods. The remnants of such philosophical questions, however, do remain;
researchers are still concerned, for example, with the relative contributions of innate and
learned factors to the perceptual process.
Such fundamental philosophical assertions as the existence of a physical world, however,
are taken for granted among most scientific students of perceiving. Typically, researchers in
perception simply accept the apparent physical world particularly as it is described in those
branches of physics concerned with electromagnetic energy, optics, and mechanics. The
problems they consider relate to the process whereby percepts are formed from the
interaction of physical energy (for example, light) with the perceiving organism. Of further
interest is the degree of correspondence between percepts and the physical objects to which
they ordinarily relate.
In philosophy, psychology, and cognitive science, perception is the process of attaining
awareness or understanding of sensory information. The word "perception" comes from the
Latin words perceptio, percipio, and means "receiving, collecting, action of taking
possession, apprehension with the mind or senses.
Perception is one of the oldest fields in psychology. The oldest quantitative law in
psychology is the Weber-Fetcher law, which quantifies the relationship between the
intensity of physical stimuli and their perceptual effects. The study of perception gave rise
to the Gestalt school of psychology, with its emphasis on holistic approach.
1.4 SCOPE
From the study, I came to know about the different services offered by various insurance
companies in connection with home insurance, shopkeepers insurance, and office
insurance.

The study will help to know the trend of insurance industry few years down the
line.

The data was enough to fulfill the objective of the study and to carry out the project
efficiently.

The study helps to learn the work culture in and around the organization.

The study will help to know the customer expectation and behavior.

The study provides first hand information regarding the required services.

CHAPTER-2
REVIEW OF LITERATURE
2.1 Introduction
Perception is the process by which organisms interpret and organize sensation to produce a
meaningful experience of the world. Sensation usually refers to the immediate, relatively
unprocessed result of stimulation of sensory receptors in the eyes, ears, nose, tongue, or skin.
Perception, on the other hand, better describes one's ultimate experience of the world and
typically involves further processing of sensory input. In practice, sensation and perception are
virtually impossible to separate, because they are part of one continuous process.
Thus, perception in humans describes the process whereby sensory stimulation is translated
into organized experience. That experience, or percept, is the joint product of the stimulation
and of the process itself. Relations found between various types of stimulation (e.g., light
waves and sound waves) and their associated percepts suggest inferences that can be made
about the properties of the perceptual process; theories of perceiving then can be developed on
the basis of these inferences. Because the perceptual process is not itself public or directly
observable (except to the perceiver himself, whose percepts are given directly in experience),
the validity of perceptual theories can be checked only indirectly.
Historically, systematic thought about perceiving was the province of philosophy.
Philosophical interest in perception stems largely from questions about the sources and validity
of what is called human knowledge (epistemology). Epistemologists ask whether a real,
physical world exists independently of human experience and, if so, how its properties can be
learned and how the truth or accuracy of that experience can be determined. They also ask
whether there are innate ideas or whether all experience originates through contact with the
physical world, mediated by the sense organs.
As a scientific enterprise, however, the investigation of perception has especially developed as
part of the larger discipline of psychology. For the most part, psychology bypasses the
questions about perceiving raised by philosophy in favors of problems that can be handled by
its special methods. The remnants of such philosophical questions, however, do remain;
researchers are still concerned, for example, with the relative contributions of innate and
learned factors to the perceptual process.
Such fundamental philosophical assertions as the existence of a physical world, however, are
taken for granted among most scientific students of perceiving. Typically, researchers in
perception simply accept the apparent physical world particularly as it is described in those

branches of physics concerned with electromagnetic energy, optics, and mechanics. The
problems they consider relate to the process whereby percepts are formed from the interaction
of physical energy (for example, light) with the perceiving organism. Of further interest is the
degree of correspondence between percepts and the physical objects to which they ordinarily
relate.
In philosophy, psychology, and cognitive science, perception is the process of attaining
awareness or understanding of sensory information. The word "perception" comes from the
Latin words perceptio, percipio, and means "receiving, collecting, action of taking possession,
apprehension with the mind or senses.
Perception is one of the oldest fields in psychology. The oldest quantitative law in psychology
is the Weber-Fetcher law, which quantifies the relationship between the intensity of physical
stimuli and their perceptual effects. The study of perception gave rise to the Gestalt school of
psychology, with its emphasis on holistic approach.
Types of Perception:Two types of consciousness are considerable regarding perception:
Phenomenal (any occurrence that is observable and physical) and
Psychological.
The difference every sighted person can demonstrate to him- or herself is by the simple
opening and closing of his or her eyes: phenomenal consciousness is thought, on average,
to be predominately absent without senses such as sight. Through the full or rich sensations
present in senses such as sight, nothing by comparison is present while the senses are not
engaged, such as when the eyes are closed. Using this precept, it is understood that, in the
vast majority of cases, logical solutions are reached through simple human sensation. The
analogy of Plato's Cave was coined to express these ideas.
Passive perception can be surmised as the following sequence of events:-Surrounding Input (senses) processing (brain) Output (re-action).
Although still supported by mainstream philosophers, psychologists and neurologists, this
theory is nowadays losing momentum. The theory of active perception has emerged from
extensive research of sensory illusions, most notably the works of Richard L. Gregory. This
theory, which is increasingly gaining experimental support, can be surmised as dynamic
relationship between "description" (in the brain) senses surrounding, all of which
holds true to the linear concept of experience.

Perception and reality

In the case of visual perception, some people can actually see the percept shift in their
mind's eye. Others, who are not picture thinkers, may not necessarily perceive the 'shapeshifting' as their world changes. The 'simplistic' nature has been shown by experiment: an
ambiguous image has multiple interpretations on the perceptual level. The question, "Is the
glass half empty or half full?" serves to demonstrate the way an object can be perceived in
different ways.
Just as one object can give rise to multiple percepts, so an object may fail to give rise to
any percept at all: if the percept has no grounding in a person's experience, the person may
literally not perceive it.
The processes of perception routinely alter what humans see. When people view something
with a preconceived concept about it, they tend to take those concepts and see them
whether or not they are there. This problem stems from the fact that humans are unable to
understand new information, without the inherent bias of their previous knowledge. A
persons knowledge creates his or her reality as much as the truth, because the human mind
can only contemplate that to which it has been exposed. When objects are viewed without
understanding, the mind will try to reach for something that it already recognizes, in order
to process what it is viewing. That which most closely relates to the unfamiliar from our
past experiences, makes up what we see when we look at things that we dont comprehend.
This confusing ambiguity of perception is exploited in human technologies such as
camouflage, and also in biological mimicry, for example by European Peacock butterflies,
whose wings bear eye markings that birds respond to as though they were the eyes of a
dangerous predator. Perceptual ambiguity is not restricted to vision. For example, recent
touch perception research Robles-De-La-Torre & Hayward 2001 found that kinesthesia
based hapticHYPERLINK "http://en.wikipedia.org/wiki/Haptic_perception" perception
strongly relies on the forces experienced during touch.
Cognitive theories of perception assume there is a poverty of stimulus. This (with reference
to perception) is the claim that sensations are, by themselves, unable to provide a unique
description of the world. Sensations require 'enriching', which is the role of the mental
model. A different type of theory is the perceptual ecology approach of James J. Gibson.
Gibson rejected the assumption of a poverty of stimulus by rejecting the notion that
perception is based in sensations. Instead, he investigated what information is actually
presented to the perceptual systems. He and the psychologists who work within this
paradigm detailed how the world could be specified to a mobile, exploring organism via

the lawful projection of information about the world into energy arrays. Specification is a
1:1 mapping of some aspect of the world into a perceptual array; given such a mapping, no
enrichment is required and perception is direct perception.
Preconceptions can influence how the world is perceived. For example, one classic
psychological experiment showed slower reaction times and less accurate answers when a
deck of playing cards reversed the color of the suit symbol for some cards (e.g. red spades
and black hearts).
There is also evidence that the brain in some ways operates on a slight "delay", to allow
nerve impulses from distant parts of the body to be integrated into simultaneous signals.
2.2 Customer perception & Satisfaction in General insurance
Perception-in-action
An ecological understanding of perception derived from Gibson's early work is that of
"perception-in-action", the notion that perception is a requisite property of animate action;
that without perception action would be unguided, and without action perception would
serve no purpose. Animate actions require both perception and motion, and perception and
movement can be described as "two sides of the same coin, the coin is action". Gibson
works from the assumption that singular entities, which he calls "invariants", already exist
in the real world and that all that the perception process does is to home in upon them. A
view known as constructivism (held by such philosophers as regards the continual
adjustment of perception and action to the external input as precisely what constitutes the
"entity", which is therefore far from being invariant.
Glasersfeld considers an "invariant" as a target to be homed in upon, and a pragmatic
necessity to allow an initial measure of understanding to be established prior to the
updating that a statement aims to achieve. The invariant does not and need not represent an
actuality, and Glasersfeld describes it as extremely unlikely that what is desired or feared
by an organism will never suffer change as time goes on. This social constructionist theory
thus allows for a needful evolutionary adjustment.
A mathematical theory of perception-in-action has been devised and investigated in many
forms of controlled movement, and has been described in many different species of
organism using the General Taw Theory. According to this theory, taw information, or
time-to-goal information is the fundamental 'percept' in perception.

Theories of Perception
Two major classes:
Bottom-up: perception builds up hierarchically from a set of primitive "features" to our internal
representations.
Top-down: perception starts with a set of primitives, but our perceptual experience is
influenced by higher-level processes, such as knowledge and context.
Bottom-up theories
All bottom-up theories rely on the notion that perception builds upwards from a foundation of
primitives to a representation our cognitive system can use. This takes place without any
influence from higher cognitive processes.
2.3 Customer Perception In Insurance Service Sector
General Insurance
General (non-life) insurance provides a short-term coverage, usually for a period of one year.
General insurers transact fire insurance, motor insurance, marine insurance, and miscellaneous
insurance business. Among these categories fire and motor insurance business are
predominant. Motor vehicle insurance is compulsory in India and the motor insurance industry.
Moreover, motor insurance due to third party liability claims has substantially contributed to
underwriting losses.
General Insurance Products
Fire Insurance:
Fire Insurance is a comprehensive policy which covers loss on account of fire, earth quake,
riots, floods, strikes, and malicious intent. It can be taken only by the owner of the premises to
be insured.
Motor Insurance: This covers:
In motor insurance, the rates were revised. Upwards twice, once in 1982 and then in1990 as
the high cost of repairs coupled with third party claims had adversely affect the insured loss
ratio. Motor insurance is mandatory leading to good amount of premium collection but it is not
being fancied upon as it could lead to litigation problem.
Marine Cargo Insurance: This covers:
Cargo in Transit.
Cargo Declaration policy.
It includes insurance of Marine Hull Insurance Inland Vessels, Ocean going Vessels, fishing
and scaling vessels, freight at risk, construction of ships, voyage insurance of various

vessels, ship breaking insurance, oil and energy in respect of onshore and offshore risks,
including construction risk.
2.4 Determinants of Customer Perception
Wherever there is uncertainty there is risk. We do not have any control over uncertainties
which involves financial losses. The risks may be certain events like death, pension, retirement
or uncertain events like theft, fire, accident, etc.
Insurance is a financial service for collecting the savings of the public and providing them with
risk coverage. The main function of Insurance is to provide protection against the possible
chances of generating losses. It eliminates worries and miseries of losses by destruction of
property and death. It also provides capital to the society as the funds accumulated were
invested in productive heads. Insurance comes under the service sector and while marketing
this service, due care is to be taken in quality product and customer satisfaction. While
marketing the services, it is also pertinent that they think about the innovative promotional
measures. It is not sufficient that you perform well but it is also important that you let others
know about the quality of your positive contributions. The creativity in the promotional
measures is the need of the hour. The advertisement, public relations, word of mouth
communication needs due care and personal selling requires intensive care.
INSURANCE MARKETING: The term Insurance Marketing refers to the marketing of
Insurance services with the aim to create customer and generate profit through customer
satisfaction. The Insurance Marketing focuses on the formulation of an ideal mix for Insurance
business so that the Insurance organization survives and thrives in the right perspective.
MARKETING --MIX FOR INSURANCE COMPANIES: The marketing mix is the
combination of marketing activities that an organization engages in so as to best meet the
needs of its targeted market. The Insurance business deals in selling services and therefore due
weight-age in the formation of marketing mix for the Insurance business is needed. The
marketing mix includes sub-mixes of the 7 P's of marketing i.e. the product, its price,
place, promotion, people, process & physical attraction. The above mentioned 7 P's can be
used for marketing of Insurance products, in the following manner:
1. Product:
A product means what we produce. If we produce goods, it means tangible product and when
we produce or generate services, it means intangible service product. A product is both what a
seller has to sell and a buyer has to buy. Thus, an Insurance company sells services and
therefore services are their product.
In India, the Life Insurance Corporation of India (LIC) and the General Insurance Corporation

(GIC) are the two leading companies offering insurance services to the users. Apart from
offering life insurance policies, they also offer underwriting and consulting services. When a
person or an organization buys an Insurance policy from the insurance company, he not only
buys a policy, but along with it the assistance and advice of the agent, the prestige of
the insurance company and the facilities of claims and compensation. It is natural that the users
expect a reasonable return for their investment and the insurance companies want to maximize
their profitability. Hence, while deciding the product portfolio or the product-mix, the services
or the schemes should be motivational. The Group Insurance scheme is required to be
promoted, the Crop Insurance is required to be expanded and the new schemes and policies for
the villagers or the rural population are to be included. The Life Insurance Corporation has
intensified efforts to promote urban savings, but as far as rural savings are concerned, it is not
that

impressive.

The

introduction

of

Rural

Career

Agents

Scheme

has been found instrumental in inducing the rural prospects but the process is at infant stage
and requires more professional excellence. The policy makers are required to activate the
efforts. It would be prudent that the LIC is allowed to pursue a policy of direct investment for
rural development. Investment in Government securities should be stopped and the investment
should be canalized in private sector for maximizing profits. In short, the formulation of
product-mix should be in the face of innovative product strategy. While initiating the
innovative process it is necessary to take into consideration the strategies adopted by private
and foreign insurance companies.
2. Pricing:
In the insurance business the pricing decisions are concerned with:
i) The premium charged against the policies,
ii) Interest charged for defaulting the payment of premium and credit facility, and
iii) Commission charged for underwriting and consultancy activities. With a view of
influencing the target market or prospects the formulation of pricing strategy becomes
significant. In a developing country like India where the disposable income in the hands
of prospects is low, the pricing decision also governs the transformation of potential
policyholders into actual policyholders. The strategies may be high or low pricing keeping in
view the level or standard of customers or the policyholders. The pricing in insurance is in the
form of premium rates. The three main factors used for determining the premium rates under a
life insurance plan are mortality, expense and interest. The premium rates are revised if there
are any significant changes in any of these factors.

3. Place:
This component of the marketing mix is related to two important facets -i) Managing the insurance personnel, and
ii) Locating a branch. The management of agents and insurance personnel is found
significant with the viewpoint of maintaining the norms for offering the services. This is
also to process the services to the end user in such a way that a gap between the servicespromised and services -- offered is bridged over. In a majority of the service generating
organizations, such a gap is found existent which has been instrumental in making worse
the image problem. The transformation of potential policyholders to the actual
policyholders is a difficult task that depends upon the professional excellence of the
personnel. The agents and the rural career agents acting as a link, lack professionalism. The
front-line staff and the branch managers also are found not assigning due weight-age to the
degeneration process. The insurance personnel if not managed properly would make all
efforts insensitive. Even if the policy makers make provision for the quality upgrading the
promised services hardly reach to the end users.
4. Promotion:
The insurance services depend on effective promotional measures. In a country like India,
the rate of illiteracy is very high and the rural economy has dominance in the national
economy. It is essential to have both personal and impersonal promotion strategies. In
promoting insurance business, the agents and the rural career agents play an important role.
Due attention should be given in selecting the promotional tools for agents and rural career
agents and even for the branch managers and front line staff. They also have to be given
proper training in order to create impulse buying.
Advertising and Publicity, organization of conferences and seminars, incentive to
policyholders are impersonal communication. Arranging Kirtans, exhibitions, participation
in fairs and festivals, rural wall paintings and publicity drive through the mobile publicity
van units would be effective in creating the impulse buying and the rural prospects would
be easily transformed into actual policyholders.
5. People:
Understanding the customer better allows designing appropriate products. Being a service
industry which involves a high level of people interaction, it is very important to use this
resource efficiently in order to satisfy customers. Training, development and strong
relationships with intermediaries are the key areas to be kept under consideration.

2.4.1 Service Quality and Satisfactory

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We also provide an allowance of Rs. 1500 towards towing charges if required

Whenever you need us, we are just a phone call away. Call us at 1800 103 1999
(Claims) or 1800 3009(inquiry) and 022 41112600 (Charges apply).

Immediate response to any call for claims

We have a dedicated help line for emergency services

Two Wheeler Insurance

Reliance Two Wheeler Insurance Policy

Comprehensive insurance of your two wheeler

Optional Personal Accident cover of Rs. 2 lakh

Super fast Service with 24/7 emergency helpline service

Two wheelers are convenient and exuberant. However, damage of your vehicle due to natural
calamities/ accidents and loss by way of theft, can make your smooth ride jerky.
Ensure your peace of mind with Reliance Two Wheeler Insurance. We cover you against
various kinds of losses and liability. Get comprehensive coverage for the liability arising out of
the third party and the loss or damage to your two-wheeler.
Two Wheeler Insurance - Key Highlights

Instant Policy Issuance through online and on call (1800 3009)

Speedy claims settlement

No documentation

Attractive Discounts

Comprehensive insurance of your Two-wheeler, on and off the road

Super fast Service with 24/7 emergency helpline service

Two Wheeler Insurance - Key Advantages

Complete Cover
Reliance Two Wheeler Package Policy gives you complete insurance cover on the road and off
it.

It covers your two-wheeler against accidents, theft, natural calamities etc

It will also gives you personal accident insurance cover and third party liability cover

Facilities for your convenience

Whenever you need us, we are just a phone call away. Call us at 1800 103 1999
(Claims) and 022 41112600 (Charges apply)

Super-fast service

Instant policy issuance through online and on call (1800 3009)

We value your time and when you call in a claim we respond immediately

We also make sure that a survey is done in the quickest possible time

Attractive Discounts
Avail the 'No Claim Bonus', if no claims were made the previous year on your existing 2
wheeler insurance policy. Option of transferring 'No Claim Bonus' to your new vehicle also
available.

Reliance

Goods

Carrying

Vehicle

Package

Policy

Package

Policy

(GCV)

Reliance
(PCV)

Passenger

Carrying

Vehicle

A good vehicle insurance is probably one of the best companion during your journey and an
equally good partner in your business. A Commercial Vehicle Insurance helps you complete
your journey ad also achieve new heights in your business, by all means. Our Goods Carrying
Vehicle / Passenger Carrying Vehicle Package Policy is one such companion during your
journey which covers your legal liability towards third parties for personal injury, death and
property damage from any accident involving your vehicles. Your motor insurance with us
would mean a peace of mind.
We cover you against various kinds of losses and liability. Get comprehensive coverage for the
liability arising out of the third party and the loss or damage to your GCV/PCV.
Commercial Vehicle Insurance Key highlights
Liability to third party

death of or bodily injury to any person caused by or arising out of your insured vehicle

damage to third party's property by use of your insured vehicle

Loss or damage to vehicle due to:

fire explosion self ignition or lightning

burglary, housebreaking, theft

riot, strike

earthquake

flood, typhoon, hurricane, storm, tempest, inundation cyclone, hailstorm, frost

accidental external means

malicious act

terrorist activity

landslide rockslide

Personal Accident Cover for Owner-Driver

Additional towing cover

What we do not cover in Commercial Vehicle Insurance?

Any accidental loss or damage and/ or liability caused sustained or incurred outside the
geographical area

Loss or damage due to war or nuclear risks

Consequential loss

Deductible as stated in the policy

Loss/ damage due to ionizing radiation

Vehicles being used other than in accordance with the limitations as to use

Vehicle driven by someone other than the driver as stated in the 'Driver's Clause'.

Read Commercial Auto Insurance Policy document for more details

How to ensure a good commercial auto insurance for your vehicle?
It is a known fact that anyone who owns or drives a car should have a motor insurance. The
same rule applies to commercial vehicle owners and/or drivers as well. Like motor insurance
even a commercial vehicle insurance falls in the category of general insurance, however, the
two are different in many aspects. For instance, unlike motor insurance, a commercial vehicle
insurance, as the name suggests, is meant for vehicles used for commercial purpose only .i.e.
goods carrying vehicles and/or passenger carrying vehicles.
Majority of the auto insurance companies provide commercial auto insurance. Therefore,
deciding on which auto insurance company should you buy your commercial auto insurance
from is a task in itself. Such a decision requires good research and comparison of the products
available in the market. A good homework will only help you find the best coverage, with a

good company at the right price.

Before buying or picking your commercial auto insurance, it is always wise to look around for
the insurance premium quotes. The best way of doing so is by comparing different auto
insurance companies. A commercial vehicle insurance and/or van insurance generally offers
following coverages.

Bodily injury to any person

Third party property damage liability

Personal injury protection

Own-damage

Towing and Labor

As a part of comparative study it is also important to understand the reason behind the cheaper
rates offered by the auto insurance companies. For instance, ensure you are comparing the
same types and length of coverage. At times the tenure of a coverage may vary, which is why
you may find one quote significantly cheaper than others.
In addition, find out about the financial stability of the auto insurance company before buying
the policy. In order to scale up their business, some companies may try to lure the customers by
offering cheaper rates. However, do an online search on the company ratings and reviews. This
would give you fairly a better idea about the authenticity and trust factor of the company.
Last but not the least, as a part of your comparative study and research on the insurance
company and its policies, it is also important to understand what risks are not covered in the
commercial vehicle insurance plan offered to you. The more complete and detail information
you have about the plan you buy the more you can be sure about the money you will be
investing in the policy. This will not only protect you and/or you vehicle at the time of
unforeseen event, but will also offer you a peace of mind.

CHAPTER-3
INDUSTRY ANALYSIS / INDUSTRY PROFILE
3.1 Introduction of Indian Insurance Sector
The Indian life insurance industry has its own origin and history, since its inception. It has
passed through many obstacles to attain the present status. The income earning capacity of an
individual citizen of a nation, the eagerness and awareness of general public are the two key
determinants of growth of any insurance industry.Insurance is a social devise where uncertain
risks ofindividuals may be combined in a group and thus made more certain-SmallPeriodic
contributions by the Individuals provide a found out of which those who suffer losses may be
reimbursed. Life insurancemade its debut in India well over 100 years ago. Today, it is widely
accepted as one of the most attractive financial instruments in and individuals part police. That
provides an assurance of security with attractive returns.
History of Life Insurance
Risk protection has been a primary goal of humans and institutions throughout history.
Protecting against risk is what insurance is all about.
Over 5000 years ago, in China, insurance was seen as a preventative measure against
piracy on the sea. Piracy, in fact, was so prevalent, that as a way of spreading the risk, a
number of ships would carry a portion of another ship's cargo so that if one ship was captured,
the entire shipment would not be lost.
In another part of the world, nearly 4,500 years ago, in the ancient land of Babylonia,
traders used to bear risk of the caravan trade by giving loans that had to be later repaid with
interest when the goods arrived safely.

Life insurance came about a little later in ancient Rome, where burial clubs were formed to
cover the funeral expenses of its members, as well as help survivors monetarily. With Rome's
fall, around 450 A.D., most of the concepts of insurance were abandoned, but aspects of it did
continue through the Middle Ages, particularly with merchant and artisan guilds. These
provided forms of member insurance covering risks like fire, flood, theft, disability, death, and
even imprisonment.
During the feudal period, early forms of insurance ebbed with the decline of travel and
long-distance trade. But during the 14th to 16th centuries, transportation, commerce, and
insurance would again reemerge.
Insurance in India can be traced back to the Vedas. For instance, yogakshema, the name of
Life Insurance Corporation of India's corporate headquarters, is derived from the Rig Veda.
The term suggests that a form of "community insurance" was prevalent around 1000 BC and
practiced by the Aryans.
And similar to ancient Rome, burial societies were formed in the Buddhist period to help
families build houses, and to protect widows and children.
Modern Insurance
Illegal almost everywhere else in Europe, life insurance in England was vigorously
promoted in the three decades following the Glorious Revolution of 1688. The type of
insurance we see today owes its roots to 17th century England. Lloyd's of London, or as they
were known then, Lloyd's Coffee House, was the location where merchants, ship owners and
underwriters met to discuss and transact business deals.
While serving as a means of risk-avoidance, life insurance also appealed strongly to the
gambling instincts of England's burgeoning middle class.
Gambling was so rampant, in fact, that when newspapers published names of prominent
people who were seriously ill, bets were placed at Lloyds on their anticipated dates of death.
Reacting against such practices, 79 merchant underwriters broke away in 1769 and two years
later formed a New Lloyds Coffee House that became known as the real Lloyds. Making
wagers on people's deaths ceased in 1774 when parliament forbade the practice.
3.1.1 Growth Scenario

The general insurance industry grew by 12 per cent in the first nine months of current fiscal led
by Anil Ambani group firm Reliance General Insurance, which recorded the highest growth of
149 per cent in gross premium as compared to last fiscal.
The 13 non-life insurers collected Rs 20,796 crore first premium in the first three quarters. Of
the total premium, the share of nine private sector players stood at Rs 8,305 crore while
remaining was contributed by four public sector players.
3.1.2 Global perception
The industry has of late achieved a yearly growth rate within 32 and 34 percent and this makes
it the 5th best among emerging economies around the world. The various entities of the industry
are also bringing out newer products on a regular basis to attract their customers.
As per rules, the upper limit of foreign direct investment permitted in this sector is 26 percent.
However, this has to be done through the automatic route and the investor needs a license from
Insurance Regulatory and Development Authority (IRDA).
At present there are 22 life insurers in India. The IRDA has recently taken away the tariffs of
the interest rates and this has provided insurers greater independence when it comes to
deciding the price of their insurance policies. The insurance industry has also become more
competitive as a result.
Yet another important factor affecting this sector has been the recent financial meltdown.
India insurance industry growth in last few years
The life insurance companies have performed the best when it comes to growth with an
increase of almost 70% in new premium that has been collected in the initial 5 months of
2012.
As per IRDA data, in April-August 2010 the insurance companies earned $11.73 billion in new
premium - in the corresponding period in the previous year the amount stood at 6.9 billion
dollars.
LIC, a state held insurer, had been the biggest profit maker at that time with an addition of 88%
to their existing business. The privately owned insurers together had seen a leap of 34% to
their policy sales.

ICICI Prudential earned 576.60 million dollars at that time. During April-August 2009 SBI
Life had earned $379.20 million in sales of new policies and that figure went up to $531.87
million in the corresponding period in 2010 making it an increase of 40%. HDFC Standard
Life also experienced a good growth of 54% in new sales.
IRDA data shows that between April and October 2010 the general insurance industry
experienced a year-on-year growth of 22.76% with regards to underwritten gross premium.
The total value of that premium was 5.29 billion dollars while the same figure stood at $4.31
billion in April-October 2009. For the public sector companies the year-on-year growth rate
was

21.09

percent

between

April-October

2010

and

April-October

2009.

In the same period the privately held insurers saw an increase of 25.19 percent in terms of
premium collected. Among the publicly owned entities, New India Insurance was one of the
better performers with a premium income of 916.77 million dollars in April-October 2010.
At the same period in 2009 they had earned 770.25 million dollars which implies a growth rate
of 19.04%. The IRDA Summary Report of Motor Data of Public and Private Sector Insurers
2009-10 states that in the same period almost 28.4 million policies were sold and the aggregate
worth of premium collected was $2.31 billion.
The health insurance sector, according to the RNCOS' research report named "Booming Health
Insurance in India" posted unprecedented growth rates in 2008-09 and 2009-10. The report
also estimates that between the 2009-10 and 2013-14 the sector would see a compound annual
growth rate (CAGR) of at least 25%.
3.2 Major Private & Public share
General Insurance Companies in India
Bajaj Allianz General Insurance
Bajaj Allianz General Insurance is a joint venture of Allianz SE and Bajaj Finserv, which has
recently established its separate identity from Bajaj Auto Limited. Both Allianz SE and Bajaj
Finserv are reputed to be expert, stable, and strong entities in their respective domains.

The Insurance Regulatory and Development Authority (IRDA) provided Bajaj Allianz General
Insurance its Certificate of Registration on May 2, 2001, which enabled to start its operations
in India. At present its paid up and authorized capital is equal to INR 180 crores.
Allianz SE owns 26 percent of the organization's shares and the remaining 74% are owned by
Bajaj Finserv. The insurer has been a leading name in the insurance sector by achieving a
regular level of growth along with substantial profits.
At present the insurer is operating across 200 towns across India and has been employing the
very best in technology to make sure it can respond and communicate in the shortest possible
time with its customers and interested parties. Its headquarters are at Pune.
ICICI Lombard
ICICI Lombard is a collaboration of Fairfax Financial Holdings Limited from Canada and
ICICI Bank Limited. ICICI Bank is the second biggest bank of India and as of March 31, 2012
owns consolidated assets worth more than 91 billion US dollars. It is a diversified financial
services provider engaged in several sectors such as general insurance, management of
investment claims, reinsurance, and investment management.
The insurer offers instant policy renewal and issuance facilities from its official website. This
facility is available for the following forms of retail insurance such as:

Car insurance

Two wheeler insurance

Health insurance

Home insurance

Travel insurance

It also offers several payment options such as internet banking, debit cards, credit cards, and
cash cards.
National Insurance
National Insurance was set up in 1906 and had its corporate headquarters at Kolkata. After the
General Insurance Business Nationalization Act was passed in 1972, 11 Indian insurers and 21
international insurers were included in its fold. At that point of time National Insurance
operated as a subsidiary of the General Insurance Corporation of India that was wholly owned
by the Indian Government.
Once the General Insurance Business (Nationalization) Act was passed on August 7, 2002 the
insurer started to operate as an independent entity and is presently held by the Union

Government. It is one of the top non life insurers of India in the public sector.
It has approximately 1000 offices and in excess of 16 thousand officials in far flung rural areas,
metros, and townships. Its international operations are executed from its Nepal based offices. It
has 14 million policyholders and offers at least 200 different products that take care of their
different requirements.
It has a paid up share capital of INR 100 crores. In addition to usual general insurance plans it
offers fire, miscellaneous, and marine insurance. National Insurance also provides various risk
protection services and caters to the following sectors of the national economy:

Banking

Space research

Plantations

Telecom

Foreign trade

Aviation

Shipping

Healthcare

Information technology

Tea

Power

Automobile

Oil and energy

Education

Agronomy

Environment

National Insurance is the second largest among non life insurers in India and majority of its
operations are based in eastern and northern India.
New India Assurance
New India Assurance was established during 1919 by Sir Dorab Tata and is the first insurer to
be completely owned by an Indian. It is a groundbreaker when it comes to Indian insurers - in
1946 it had insured the first Indian airlines and in 1980 it started issuing satellite insurance.
It offers a diverse array of plans and is presently one of the biggest names in the non life sector
in India as well as Afro-Asia.
Oriental Insurance
Oriental Insurance was established on September 12, 1947 in Mumbai and was a totally owned
subsidiary of the Oriental Government Security Life Assurance Company Ltd. its main purpose

on inception was to execute the general insurance operations of its parent company.
From 1956 to 1973 it served as a LIC subsidiary before the general insurance business was
also taken over by the government. In 2003 its shares were transferred to the Union
Government

from the General Insurance Corporation.

The organization is a leader when it comes to creating fluent and structured business
operations. Its main area of strength is its work force that is highly motivated and well trained
with the capability of covering several areas of the insurance business proficiently.
Its major area of strength is creating specialized cover plans for major projects such as power
plants, steel, petrochemical, and chemical plants. Till now it has come up with products that are
suited to the distinct requirements of both rural and urban population. The company also
provides a high level of customer service through its team of experienced and technologically
educated employees. Its headquarters are at New Delhi - it also has more than 900 offices in
various cities across India as well as 30 regional offices. Its international operations are
performed from its offices at Nepal, Dubai, and Kuwait. It has at least 15 thousand
professionals.
Reliance General Insurance
Reliance General Insurance is one of the leading general insurers of India in the private sector.
It provides a wide range of customized insurance products in the following segments:

Motor

Travel

Health

Student travel

It caters to corporate, individual, and small medium enterprises. It is among the first companies
to have started the home and health insurance plans that are provided on an over-the-counter
basis. It has 152 offices in 119 cities spread around 24 states. It also provides customers with
the following facilities:

24X7 call center

Channel partner

Transaction based website

Brokers

Tie-ups with banks

Following are the other general insurers operating in India:

IFFCO TOKIO

L&T General Insurance

Royal Sundaram Alliance Insurance

Star Health and Allied Insurance

Tata AIG General Insurance

Apollo Munich Health Insurance

United India Insurance

Future Generali India Insurance

Cholamandalam MS General Insurance

Universal Sompo General Insurance

HDFC ERGO General Insurance

Shriram General Insurance

Export Credit Guarantee Corporation of India

Bharti AXA General Insurance

Agricultural Insurance Co of India

Max Bupa Health Insurance

3.3 Future Perception

The Reliance General Insurance is a well established private general insurance company in
India and a part of the Reliance Capital Limited of the Reliance Anil Dhirubhai Ambani Group.
Reliance General Insurance Company Ltd. offers a multitude of insurance products such as
health insurance, travel insurance, motor insurance and home insurance. Reliance General
Insurance Company has also introduced Indias first Over-The-Counter health & home
insurance policies, thus encouraging innovation and enabling convenience to the customers.
Rakesh Jain is the Executive Director & CEO of Reliance General Insurance Company.
The company has been awarded the ISO 9001:2008 certification by Det Norske Veritas (DNV),
a reputed global quality standards auditing organization, for its streamlines processes and
speedy transparent claim procedures.
Reliance General Insurance - Product Portfolio
Reliance Health Plans:
Health Insurance plans help to protect your family against financial emergencies and provides
financial assistance to you and your family covers you against hospitalization expenses
towards diseases / illness / injury.

Reliance Health Insurance Policy

Reliance Critical Illness Insurance Policy

Reliance Individual Personal Accident Policy

Reliance Individual Mediclaim Insurance Policy

Reliance Car Insurance Plans:
Car insurance plans help you to escape from expenses on your car or any other vehicle due to
any calamity and cover benefits of comprehensive motor insurance but also provide post
accident assistance.

Reliance Private Car Insurance Policy

Reliance Two Wheeler Insurance Policy

Reliance Travel Insurance Plans:
Reliance plans give you the benefit of travelling with confidence either abroard or domestic
thereby ensuring you a complete hassle free travel with peace of mind.

Reliance Overseas Travel Insurance

Reliance Student Travel Insurance

Reliance Annual Multi-trip travel insurance plan

Reliance Senior citizens Travel Insurance

Reliance Home Insurance Plans:
Reliance Plans plan give you comprehensive cover for your home and its contents at a
reasonable premium and help to safeguard your home and its contents in case of an ill fated
event.

Reliance Householders' Package Policy

Reliance Personal Accident Plans:
It is advisable to compare all Reliance General insurance plans from other General insurance
companies in India to choose the best insurance plan that suits you the most.
Reliance Distribution Network:
The Reliance General Insurance Company operates with the help of more than 200 branch
offices spread across 173 cities and 22 states throughout the country. Moreover, company
provides for its customers easy channels of access to its products through its 24x7 call center
and a transactional website.

CHAPTER-4
RESEARCH METHODOLOGY
4.1 Introduction of Research methodology:
The Research methodology used for the study was very rigorous. Questionnaires were
made, interviews with customers were held and various books and websites were consulted for
any type of information related to the study. The methodology so applied is briefly discussed
below step-by-step.
Therefore Marketing research can be defined as the systematic design, collection,
analysis, and reporting of the data and finding relevant to a specific marketing situation
facing the company.
4.2. Research objectives

To study the perception and satisfaction level of policy holders towards the
service of Reliance General Insurance Corporation Ltd.

4.3 Research Hypothesis

Research Design:
Research design is the basic plan which guides the researchers in the collection and
analysis of data required for practicing the research product. In fact the research design is
the conceptual structure with which research is conducted. It consist the blue print for the
collection, measurement and analysis of the data that was followed completing the study to
ensure that study is relevant to the problem and will follow the predetermined and set data.
4.3 Sampling Design & Techniques
DATA COLLECTION TECHNIQUES
Research design

The framework of conducting research is known as research design.

Research design is the plan, structure, and strategy of investigation conceived so as
to obtain answers to research question and to control variance.
Method
There are two types of data collection method use in my project report.

Primary data

For my project, I decided on primary data collection method for observing the working of
company and approaching customers directly in the field with the help of questionnaire
prepared.

Secondary data.

I decided on Secondary data collection method by referring to various websites for

collecting information regarding project under study.
4.4 Sample Description:
Sample Method: Random sampling was chosen as the sample selection procedure.
Sample universe: My sample universes for research are customer of Sagar city.
Sample unit: The respondents (20 Respondents) who were asked to fill out
questionnaires are the sampling units.
Sample Frame: Sample frame of this project is Existing customers of Reliance General
Insurance.
Sample size: The sample size was taken to be 20 customers. Some of the customers were
interviewed individually everyday and asked to fill the questionnaires.

CHAPTER-5
DATA ANALYSIS AND INTERPRETATION
Q1. Are you a Job Holder?
YES
83%

NO
17%

INTERPRETATION
It was founded that 83% customers are job oriented while 17% are not.

Q2. Are you aware of Reliance General Insurance?

Particulars
Yes
No

Percentages
85%
15%

According to survey we find that 85% customers are aware about Reliance General Insurance
while 15% are not aware.

Q3. If Yes, How do you come to know about Reliance General Insurance?
Media
TV
News Paper
Agents

Percentages
65%
15%
20%

According to survey we find that 65% customers are aware about RGI from TV, 15% are of by
Newspaper while 20% are of by agents.

Q4. Mode of buying life insurance policy

The question was asked to know that how a customer bought the policy weather it was
customer approach to company or company approach to customer.

INTERPRETATION
It was founded that 58% people have taken policy because of company approach and rest
bought either by their approach or other reasons.

Q5. Which factor is important in your eye for purchasing General insurance policy?
Factors
Company
Premium
Service

Percentages
55%
20%
25%

According to survey we find that 55% customers are having RGI because of Company, 20%
are of by Premium. While 25% are of by Service.

Q6. Satisfied with the policy

Satisfied
Not Satisfied
Cant Say

44%
47%
9%

The question was asked to know that what percentage of customers is satisfied with the
policies.

INTERPRETATION
It was founded that majority of customer are not satisfied with their current policy.

Q7. From whose suggestion have the respondents taken a policy?

Company Approach
Influence of advertisement
Friends & Family

58%
24%
18%

It was asked to gain an insight from the respondents that on whose suggestion they opted
for a life insurance.

INTERPRETATION
After the survey it was founded that 58% of the respondents took policy cover from the
suggestions of company approach. And only 24% respondents took policy on the
recommendation of the agents. Other sources like banks, corporate tie-ups and etc. play a
minute role in reaching out people for General insurance policy.

Q8. Which sector customer chose public or private?

Private
Public

44%
56%

INTERPRETATION
According to survey we find that 44% customers are having General Insurance from Private
company while 56% are from public.

FINDINGS

It is found the Customers are satisfied with the Reliance General insurance service.
Reliance General insurance gives best satisfaction to its customers.
Most of the customers want Reliance General insurance service again.
It is found that life cover plan, investment plan attract customer.

LIMITATIONS OF THE RESEARCH

Some of the difficulties and limitations faced during my training are as follows:

Lack of awareness among the people This is the biggest limitation found in this
sector. Most of the people are not aware about the importance and the necessity of the
insurance in their life.

Perception of the people towards Insurance sector People still consider insurance
just as a Tax saving device. So today also there is always a rush to buy an Insurance
Policy only at the end of the financial year.

Lack of awareness about the earning opportunity in the Insurance sector People
still today are not aware about the earning opportunity that the Insurance sector gives.
Companies in order to beat the competition and to increase their Insurance Advisors
and increase their reach to the customers are giving very high commission but people
are not aware of that.

Increased competition Today the competition in the Insurance sector has became
very stiff. Currently there are more than 20 General Insurance companies working in
India. Today each and every company is trying to increase their Insurance Advisors so
that they can increase their reach in the market. This situation has created a scenario in
which to recruit General insurance Advisors and to sell life Insurance Policy has
became very very difficult.

SUGGESTION

As majority of the population lives in rural areas so they should be targeted simple and

affordable plans for them.

Life Advisor is the one which brings majority of the business for the company. So more

and more advisors should be recruited and paid good commission for their work.
In todays corporate world customer satisfaction is the key element to earn profit and
run the business. So the best service should be given before and after the

commencement of the policy.

Better service quality should include-issuing policy on time, providing claims on time,
proper communication via mail or courier on timely basis to aware customer about the
policy status.

CHAPTER-5
CONCLUSIONS
General insurance is a relatively low involvement product, even for those who have
voluntary cover.
It is not something that occupies consumers minds at times other than the time of
consideration / purchase. The result of this is a low level of awareness and understanding of
life insurance products, and more generally, of the operation of life insurance companies.
There is confusion in the minds of consumers between life insurance, general insurance,
health insurance, and some investment products (such as endowment products). Life insurance
companies, therefore, are subject to odium emanating from problems in the general insurance
sector, such as the collapse of HIH, increasing general insurance premiums, and obscenely
large director salaries and bonuses. This is the case even among apparently erudite individuals.
In this knowledge vacuum, people make incorrect assumptions and attributions about life
insurance. These ill-formed and uninformed attitudes then act as barriers to life insurance
product take-up.
A similar line of reasoning is applicable to genetic testing. A lack of knowledge about the
details and potential benefits of genetic testing leads people to associate genetic testing with
unrelated areas such as organ farming, human cloning, Dolly the sheep and so on.
It should not be surprising, therefore, that there is a significant level of opposition in the
community to the use of human genetic information by life insurers. It is effectively the fusion
of two areas of uncertainty, coupled with cynicism towards financial institutions.

BIBLIOGRAPHY

https://www.google.co.in/?
gfe_rd=cr&ei=RDhXVJynMMXM8ge1zYCADA&gws_rd=ssl#q=MAJOR+PRIVATE+
SHARE+OF+GENERAL+INSURANCE+COMPANY

http://business.mapsofindia.com/insurance/general-insurance-companies.html

https://www.reliancegeneral.co.in/insurance/motor-insurance/commercial-vehicleinsurance.aspx

http://www.policybazaar.com/general-insurance/companies/reliance-general-insurancecompany-ltd/

http://www.insurancepandit.com/insurer/reliance-general-insurance.php

QUESTIONNAIRE
Name:-

Age:.

Gender:-

Occupation:-

Q1. Are you a policy holder of Reliance General Insurance?

a. Yes

b. No

Q2. Q2. Are you aware of Reliance General Insurance?

a. Yes

b. No

Q3. If Yes, How do you come to know about Reliance General Insurance?
a. TV

b. Newspaper

c. Agent

Q4. Why which mode of buying insurance policy?

a. Company approach

b. others

Q5. Which factor is important in your eye for purchasing General insurance policy?
a. Company

b. Premium

c. Services

Q6. Q6. Are you Satisfied with the your general insurance policy?
a. Satisfied

b. Not Satisfied

c. Cant Say

Q7. From whose suggestion you have the respondents taken a policy?
a. Company Approach

b. Influence of advertisement c. Friends & Family

Q8. Q8. Which sector customer chose public or private?

a.

Public

b. Private