A PROJECT REPORT ON

ANALYSIS OF BHARTI AXA RANGE OF SERVICES

SUBMITTED BY:

SUSHOBHAN BIRTIA

Roll No-56329UT09004
BBA 5th SEM

UNDER THE GUIDANCE OF

MR.MALAYA MOHAPATRA
AGENCY DEVELOPMENT MANAGER
(MARKETING)

MR.SHARADA PRASAD SAHOO

FACULTY

INTERSCIENCE DEGREE COLLEGE, BHUBANESWAR

A PROJECT REPORT ON

ANALYSIS OF BHARTI AXA RANGE OF SERVICES

SUBMITTED BY:

SUSHOBHAN BIRTIA

Roll No-56329UT09004
BBA 5th SEM

UNDER THE GUIDANCE OF

MR.MALAYA MOHAPATRA
AGENCY DEVELOPMENT MANAGER
(MARKETING)

MR.SHARADA PRASAD SAHOO

FACULTY

INTERSCIENCE DEGREE COLLEGE, BHUBANESWAR

ACKNOWLEDGEMENT

If words are considered to be signs of gratitude then let these words convey the very same, my
sincere gratitude to Bharti AXA Life Insurance for providing me an opportunity to work with Bharti
AXA and giving necessary directions on doing this project to the best of my abilities.
I am highly indebted to Mr. Malaya Mohapatra (ADM) and company project guide Mr. Satyanath
Satpathy (MOA) who has provided me the necessary information and also for the support extended
in the completion of this report and there valuable suggestion and comments on bringing out this
report in the best way possible.
I also thank Mr. Sharada Prasad Sahoo, who has supported me with the valuable insights into the
completion of this project.
I would like to extend my sincere thanks to all executives of Bharti-AXA for their kind help and
cooperation during the entire course of the project.

Sushobhan Birtia
Date :
Place :

DECLARATION
I hereby declare that this work entitled ANALYSIS OF BHARTI-AXA RANGE OF SERVICES
--A project on Bharti-AXA submitted by me to Interscience Degree College under UTKAL
University, Bhubaneswar for the degree of bachelor in business administration is my work carried
out under the guidance of mentor Mr.Sharada Prasad Sahoo, and company guide Mr. Malaya
Mohapatra (ADM) and Mr. Satyanath Satpathy (MOA). This report neither full nor in part has ever
been submitted for award of any other degree of either this Institution or any other University.

Sushobhan Birtia

CERTIFICATE:

OFFER LETTER:

TABLE OF CONTENTS:

__

Pages

1. INRTODUCTION:
. 1-19
1.1.
Company
Profile.
.
3
1.2.
Corporate
Profile
.. 5
1.3.
Objective
of
the
Study

19
2. LITERATURE
REVIEW:..
. 20-29
2.1.
Indian
Insurance
Industry
History.
20
2.2.
Indian
Insurance
Sector
Reform
21
2.3.
Key
Milestone

22
2.4.
IRDA

24
3. RESEARCH
METHODOLOGY:
30-34

3.1.
Marketing
Research
Process

30
3.2.
Data
Collection

32
3.3.
Limitations
of
the
Study
. 34
4. DATA
ANALYSIS:
...
35-53
5. FINDINGS:
. 54

6. CONCLUSION:
.
55
a) References
.
56
b) ANNEXUREQuestionnaire
57-58

EXECUTIVE SUMMARY:
This project was carried out in the MARKETING/HR department of BHARTI
AXA Life insurance co. Bhubaneswar. Bharti AXA Life insurance is only
concern with life insurance and General insurance.
The objective of this project is to study the entire ANALYSIS OF BHARTIAXA RANGE OF SERVICES processes at Bharti AXA Life insurance. The
Marketing cum HR Department of Bharti AXA Life insurance carries out both
these functions quite effectively. Hence, the range of services is studied
thoroughly and some inferences accordingly. The data and information
collected is with respect to working procedure specifically regarding research
analysis, the data referred for this study is for the year 2007 - 11. I have applied
the concept and gained knowledge learned during the course in at CMRD In
practical business situation and understood these concepts in better way. The
research work really has poured of immense learning for me. I would like to
thank whole heartedly to Bharti AXA and CMRD, for giving me this exposure.

1: INTRODUCTION:
Why Insurance sector?
The service industry is one of the fastest growing sectors in India today. The
upcoming sectors which are really showing the graph towards upwards are Telecom, Banking, and Insurance. These sectors really have a lot of
responsibility towards the economy.
Amongst the above-mentioned areas insurance is one sector, which took a lot
of time in positioning itself. The insurance business of non-life companies was
not much in problems but the major problem was with life insurance. Life
Insurance Corporation of India had monopoly for more than 45 years, but the
picture then was completely different. Previously people felt that Insurance is
only for classes not for masses but now the picture is vice-versa.
The formation of IRDA, entrance of private life insurance companies into India
with one foreign partner, compulsory training of Insurance agents etc.
developments started to take place. And this was the time when these
companies started searching for proper channel partners who can help the
organization in expanding its network and business in India.
After the Insurance Regulatory and Development Authority Act have been
passed there has been establishment of many private insurance companies in
India. Previously there was a monopoly business for Life Insurance
Corporation of India (L.I.C.) who was the only life-insurance company for the
people till 2000. L.I.C. still holds 71.4% of the market share in 2006.

But after the introduction of private life insurance companies there is a great
competition in Indian market now. Everyone is trying to capture the fresh
market here and penetrate it with aggressive marketing strategies.
In India only 25% of the population has life insurance. So Indian life-insurance
market is the target market of all the companies who either want to extend or
diversify their business.
Insurance is such industry where labour turnover is the maximum than that of
any other industry hence there is lot of scope for HR to work in recruitment
and selection process.
On the whole Bharti AXA life insurance is a good place to work at. Every new
recruit is provided with extensive training on unit linked funds, financial
instruments and the products of Bharti AXA. This training enables an
advisor/sales manager to market the policies better. The company should try to
create awareness about itself in India. In the global market it is already very
popular. With an improvement in the sales techniques used, a fair bit of
advertising and modifications to the existing product portfolio, Bharti AXA would
be all set to capture the insurance market in India as it has around the globe.

1.1: COMPANY PROFILE:

Bharti AXA Life is a life insurance player that was started in 2006. It brings

together strong financial expertise of the Paris-headquartered AXA Group, and

Bharti Enterprises - one of India's leading business groups with interests in
telecom, agricultural business, financial services, and retail. The joint venture
has a 74% stake from Bharti and 26% stake from AXA Asia Pacific Holdings
Ltd. (APH) .The Company launched national operations in December 2006.

Bharti Enterprises is one of Indias leading business groups with interests in

telecom, agri business, insurance and retail. Bharti has been a pioneering force
in the telecom sector with many firsts and innovations to its credit. Bharti
Airtel Limited, a group company, is one of Indias leading private sector
providers of telecommunications services with an aggregate of 60 million
customers, spanning mobile, fixed line, broadband and enterprise services.
Bharti Airtel was ranked amongst the best performing companies in the world
in the Business Week IT 100 list 2007. Bharti Teletech is the countrys largest
manufacturer and exporter of telephone terminals. Bharti has a joint venture
with ELRO Holdings India Ltd. Field Fresh Foods Pvt. Ltd - for global
distribution of fresh fruits and vegetables. Bharti also has a joint venture Bharti AXA Life Insurance Company Ltd. - with AXA, world leader in
financial protection and wealth management. Bharti has recently forayed into
the retail business under a company called Bharti Retail Pvt. Ltd. It also has a
joint venture Bharti Wal-Mart Private Limited with Wal-Mart, for
wholesale cash-and-carry and back-end supply chain management operations.

AXA Group is a worldwide leader in Financial Protection. AXA's operations

are diverse geographically, with major operations in Western Europe, North
America and the Asia/Pacific area. AXA had Euro 1,315 billion in assets under

management as of December 31, 2006. For full year 2006, IFRS revenues
amounted to Euro 79 billion, IFRS underlying earnings amounted to Euro
4,010 million and IFRS adjusted earnings to Euro 5,140 million. The AXA
ordinary share is listed and trades under the symbol AXA on the Paris Stock
Exchange. The AXA American Depository Share is also listed on the NYSE
under the ticker symbol AXA.

We undertook an in-depth analysis wherein we identified the notion of

preference was totally related to the trust granted to various names in insurance
and financial services. The level of trust is very inadequate today, regardless of
the brand considered. This is because the perception of consumers is that we
are all evolving only in "a world of promises." And this is what we have to
redefine.
Beyond promises... proof

We don't want to make promises any more. Instead, we want to demonstrate

our ability to respond to client needs with real and tangible proof and, in so
doing, to establish an authentic relationship of trust with our clients.

These are the three attitudes that clients most expect from an insurance and
financial services company in exchange for their vote of confidence. These
three attitudes stood out from the others in the consumer research we
conducted across markets, regardless of their level of maturity.
They are at the heart of our actions and our commitments to clients.

1.2: CORPORATE PROFILE:

Bharti AXA Life Insurance is joint ventures between Bharti, one of Indias
leading business groups with interests in telecom, agree business and retail, and
AXA, world leader in financial protection and wealth management. The joint
venture company has a 74% stake from Bharti and 26% stake of AXA.
The company launched national operations in December 2006. Today,
company has over 5200 employees across over 12 states in the country. Our
business philosophy is built around the promise of making people "Life
Confident".
As company expand our presence across the country to cater to your insurance
and wealth management needs with our product and service offerings,
company continue to bring 'life confidence' to customers spread across India.
Whatever your plans in life, you can be confident that Bharti AXA Life will
offer the right financial solutions to help you achieve them. Company is
working on the base of five core values

Professionalism

Innovation

Team Spirit

Pragmatism

Integrity

BHARTI ENTERPRISES

BHARTI
TELETECH
TELETECH
SERVICES

BHARTI
TELECOM

BHARTI
FOOD

BHARTI

BHARTI
TELEVENTURE

50 Million (500 Lakhs Customers)

130,000 Employees
72 Billion Euros (Rs. 4, 16,300. Cores) Revenue
869 Billion Euros (Rs.50 24, 500.Crores) Asset under Management
Key features:

Using multi-distribution, multi product platform techniques.

Adapting AXA's best practices as a sound platform for profitable

growth.

Leveraging Bharti's local knowledge, infrastructure and customer

base.

Delivering high levels of shareholder return.

BHARTI
TELESOFT

Building long term value with business partners by enhancing the

proposition to their customers.

Retaining the best talent in India.

Our Philosophy: Available, Reliable and Attentive to our

customers needs
Vision:
To be a leader and the preferred company for financial protection and wealth
management in India.
Bharti AXA Life Insurance Growing Presence:
Number of cities

- 111

Number of offices

- 163

Number of Agents

- 30,000 PLUS

.
Promoter's Strength:
Bharti Enterprises is one of Indias leading business groups with interests in
telecom; agree business, insurance and retail. Its flagship telecom brand
'Airtel', has over 60 million customers across the length and breadth of India.
AXA Group is worldwide leader in Financial Protection. AXA is among
Fortune Global 15 companies having 120,000 employees and is represented in
over 60 countries worldwide.
Largest Insurer:
AXA Group has 120,000 employees and is represented in over 60 countries
worldwide
Service Excellence:
Company stand by three main commitments to our customers and agents,
effective local service, professional expertise, and professional code of ethics.

Company aim to build close and lasting relationships by offering expert advice,
providing a supportive environment and a full range of adapted solutions.

Information Technology Driven:

Our commitment and continuous investment in Information Technology
enables the Company to provide unparalleled customer service.
Bharti AXA Club Member:
Become a Bharti AXA Club Member and enjoy additional benefits.
Bharti AXA's Support for Our Agents:
Company is looking for bright, self-motivated people who want to build a
successful career in insurance sales and consultancy. We offer good financial
rewards and recognition, comprehensive training, excellent back-up and the
full support of a world-class organization.

Bharti-AXA fund returns are above the median returns of the Industry*:
BhartiAXA Grow
Money
BhartiAXA
Pension
Grow
Money

3Mth

RANK

1Yr.

RANK

2Yr.

RANK

8.92%

57.48%

3.31%

8.96%

57.62%

3.46%

The equity fund performance for all periods for the above funds is within the
top six in the industry.

*Published data- Inconversation Newsletter

Bharti-AXA offers a range of innovative products to cater to the insurance

and wealth management needs of our customers.

INDIVIDUAL PLANS:
PROTECTION:
Bharti-AXA Life ELITE Secure
Bharti-AXA Life Secure Confident
Bharti-AXA Life Family Income Secure
Bharti-AXA Life Protect Plus
Bharti-AXA Life Premium Waiver Rider
WEALTH CREATION WITH PROTECTION:
CHILD PLANS:
1. Bharti-AXA Life Bright Stars Edge
2. Bharti-AXA Life Future Champs
3. Bharti-AXA Life Power Kid Insurance Plan
GURANTEED PLANS:
1. Bharti-AXA Life Save Confident
2. Bharti-AXA Life True Wealth
3. Bharti-AXA Life Aajeevan anand
4. Bharti-AXA Life Monthly Income Plan
OTHER MARKET LINK PLANS:
1. Bharti-AXA Life Wealth One
WEALTH:
Bharti-AXA Life Triple Health Insurance Plan
Bharti-AXA Life Easy Health
RETIREMENT:
Bharti-AXA Life Wonder Years Retirement Plan

 GROUP PLANS:
LIFE INSURANCE:
Bharti-AXA Life Shield
Bharti-AXA Life Sanjeevani
CREDIT PROTECTION:
Bharti-AXA Life Credit Secure
Bharti-AXA Life Mortgage Credit Shield
Bharti-AXA Life Credit shield
Bharti-AXA Life Premier Protect Home Shield
HEALTH:
Bharti-AXA Life Swasthya Sanjeevani

Investment Philosophy:
Our investment philosophy is carved out from stringent and robust investment
policies. Risk management is an integral part of our investment processes. The
company has well-defined risk policies and process covering both portfolio and
process risks. Our equity investments are currently made primarily in large cap
stocks (>85%), as large cap stocks are less volatile than mid cap or small cap
stocks.
The debt portfolio of the company is currently invested only in highest credit
quality assets i.e. Government of India securities and securities issued by AAA
rated companies. A reasonable level of liquidity is maintained with the
respective funds so as to enable smooth redemption processes on account of
switches, claims etc.

Organization Structure:
Works through many channels marketing, human resource, finance,
information technology,
Marketing wing is divided into 1) DIRECT SALES FORCE Have two tired salaried adviser force to target
the large and diverse Bharti Airtel customer base.
2) AGENCY-focus on building a highly productive agency force. This wing
needs high quality of training, and high quality recruitment.
3) BANK ASSURANCE- planes for developing strategic partnership with
quality banks.

4) CORPORATE AGENCY AND BROKING CHANNEL- planes for

developing strategic partnership.

Direct Sales Force:

HOM
ZSM
RSM
ARSM
AM
AAM
SR.SM
SM
SM

SM-G

SM-D

FO

FO-G

FO-D
FA

FE

FE-G

HOM Head of Marketing

ZSM Zonal Sales Manager
RSM Regional Sales Manager
ARSM Associate Regional Sales Manager
AAM Associate Area Manager
SM Sales Manager
FO Financial Officer
FE Financial Executive

FE-D

Agency Structure:

Agency Head

RM
mMM

ARSM

BSM

MOA

Advisor

MOA Agency Manager

BSM Branch Sales Manger

Strategy:

To achieve a top 5 market position in India through a multi-distribution,

multi-product platform

To adapt AXA's best practice blueprints as a sound platform for

profitable growth

To leverage Bharti's local knowledge, infrastructure and customer base

To deliver high levels of shareholder return

To build long term value with our business partners by enhancing the
proposition to their customers

To be the employer of choice to attract and retain the best talent in India

To be recognized as being close and qualified by our customers

Strategic differentiators:

Strong partner Bharti - provides access to customer base of more than

20 million

Multi channel execution capability

Current Asia product range which is a strong match to products sold to

the mass and mass affluent

Global scale providing cost effective and speedy re-use of systems,

products and business capability

Strong AXA and Bharti brands which can be leveraged to attract and
retain a high quality management team.

SWOT ANALYSIS:
Strength:
Bharti AXA Life Insurance Company Indias Most Respected Company
in the insurance industry of India.
Excellent services.
Customized of product as per customer needs.
Brand image.
Business experience.
Strong financial base.
Innovative product technology, organization culture and environment.
Weakness:
Lot of the competitions is in the market offers some product difference
in the premium and offerings.
Target only bigger income group where other companies are trying to
catch middle lower level people.
Higher premium as compared to the other companies.
Client face problem to get insured due to large number of formalities.
High target of financial advisor and for the sales development.

Opportunity:
Huge market is literally untapped out of estimated 320 million is usable
markets only 20% of the population is insured.
In the pension field where people want good life after their retirement.
Indian people are more emotional towards their children that are why
children plan are selling like hot cakes.
Health insurance and pension schemes and estimated market potential
of approximately $ 10 billion.
Threats:
Weak perception of private players in the minds of Indian people due to
frequent financial schemes.
Large number of insurance players.
Current government policies do not encourage gross domestic savings.
Of the tax liabilities of the service rises the customers will have little
money to invest.
And change rules day by day more rigid which is very difficult for the
company.

PROMOTERS:
Bharti Enterprises:
Bharti Enterprises is one of Indias leading business groups with interests in
telecom, agro business, insurance and retail. Bharti has been a pioneering force
in the telecom sector with many firsts and innovations to its credit. Bharti
Airtel Limited, a group company, is one of Indias leading private sector
providers of telecommunications services with an aggregate of 60 million
customers, spanning mobile, fixed line, broadband and enterprise services.
Bharti Airtel was ranked amongst the best performing companies in the world
in the Business Week IT 100 list 2007. Bharti Teletech is the countrys largest
manufacturer and exporter of telephone terminals. Bharti has a joint venture
with Field Fresh Foods Pvt. Ltd - for global distribution of fresh fruits and
vegetables. Bharti also has a joint venture - Bharti AXA Life Insurance
Company Ltd. - with AXA, world leader in financial protection and wealth
management. Bharti has recently forayed into the retail business under a
company called Bharti Retail Pvt. Ltd. It also has a joint venture Bharti WalMart Private Limited with Wal-Mart, for wholesale cash-and-carry and backend supply chain management operations.

AXA Group:

AXA Group is a worldwide leader in Financial Protection. AXA's

operations are diverse geographically, with major operations in Western
Europe, North America and the Asia/Pacific area. AXA had Euro 1,315
billion in assets under management as of December 31, 2006. For full year

2006, IFRS revenues amounted to Euro 79 billion, IFRS underlying

earnings amounted to Euro 4,010 million and IFRS adjusted earnings to
Euro

5,140

million.

The AXA ordinary share is listed and trades under the symbol AXA on the
Paris Stock Exchange. The AXA American Depository Share is also listed
on the NYSE under the ticker symbol AXA.

Bharti AXA General Insurance is a joint venture between Bharti, one of

Indias leading

business groups

with interests in Telecom, Agri Business and Retail; and AXA, world leader in
Financial Protection and Wealth Management. Bharti Group holds 74% of
equity and AXA holds 26% of the equity.
The company was incorporate 13th July 2007 and plans to commence national
operations in August 2008. Headquartered in Bangalore, the company currently
has offices in 7 cities- Bangalore, Mumbai, Delhi, Ahmadabad, and Hyderabad,
Ludhiana and Chennai- and plans to grow to a total strength of 29 branches by
the end of the first year of operations. With a vision to become the leader and
preferred company for financial protection in India, Bharti AXA General
Insurance offers its customers - individuals and businesses- a wide range of
products and services that meet their insurance needs.
The company will leverage the Bharti Groups large customer pool and
develop a strong multi channel distribution network in both urban and rural
markets.

With a customer commitment to provide Fast, Fair & Friendly service in all
aspects of business, the company offers transparency, structured customer
support and trained manpower, backed by a robust IT platform. The companys
claims philosophy is to offer prompt and hassle free claims service that deals
with the claims process with empathy.
The Management team at Bharti AXA consists of experienced leaders who are
passionate about their companys vision and goals and are committed to the
development of Bharti AXA General Insurance as the preferred company for
Financial Protection in India.

1.3: OBJECTIVE OF THE STUDY:

1. To know about the saving habits of consumers.

2. To know the awareness about Insurance Plans and their benefits.
3. To know the attitude of individuals towards risk bearing.
4. To know the objective of individuals while purchasing insurance.
5. To know the attitude of individuals towards insurance plans and
preference to Bharti
AXA Life.

6. To check out the consumers financial position.

2: LITERATURE REVIEW:

2.1: Indian Insurance Industry History:

Life insurance came to India from England in 1818 when oriental life
insurance company started in Calcutta by Europeans. After this many insurance
companies had been started in India. But these companies were looking after
only the needs of European community established in India. Indian people
were not being insured by these companies. First Indian life insurance
company came as Bombay mutual life insurance assurance. Second company
was Bharat insurance company came in 1896. After this the united India in
madras, national Indian and national insurance in Calcutta and the co-operative
assurance in Lahore were established in 1906.
To regulate Indian insurance business first insurance act came in 1912 as life
insurance company act and provident fund act. These acts consist of premium
rates tables and periodical valuations of companies. In the first two decade of
20th century many life insurance companies were started. So the insurance act
came in 1938 to governing life and non life insurance companies and to
provide strict state control. In 1956 the life insurance business in India was
nationalized. In 1956 life insurance corporation of India (LIC) was created to
spreading life insurance much more widely particularly in rural areas. In that
year LIC had 5 zonal offices, 33 divisional offices and 212 branch offices. In
1957 the business of LIC of sum assured of 200crores, 1000crores in 1970, and
7000 cores in 1986.
The history of the Indian insurance sector dates back to 1818, when the
Oriental Life Insurance Company was formed in Kolkata. A new era began in
the India insurance sector, with the passing of the Life Insurance Act of 1912.
The Indian Insurance Companies Act was passed in 1928. This act empowered
the government of India to gather necessary information about the life

insurance and non-life insurance organizations operating in the Indian financial

markets.
The Triton Insurance Company Ltd formed in 1850 and was the first of its kind
in the general insurance sector in India. Established in 1907, Indian Mercantile
Insurance Limited was the first company to handle all forms of India insurance.
2.2: Indian Insurance: Sector Reform:
The formation of the Malhotra Committee in 1993 initiated reforms in the
Indian insurance sector. The aim of the Malhotra Committee was to assess the
functionality of the Indian insurance sector. This committee was also in charge
of recommending the future path of insurance in India.
The Malhotra Committee attempted to improve various aspects of the
insurance sector, making them more appropriate and effective for the Indian
market.
The recommendations of the committee put stress on offering operational
autonomy to the insurance service providers and also suggested forming an
independent regulatory body.
The Insurance Regulatory and Development Authority Act of 1999 brought
about several crucial policy changes in the insurance sector of India. It led to
the formation of the Insurance Regulatory and Development Authority (IRDA)
in 2000.
The goals of the IRDA are to safeguard the interests of insurance
policyholders, as well as to initiate different policy measures to help sustain
growth in the Indian insurance sector.
The Authority has notified 27 Regulations on various issues which include
Registration of Insurers, Regulation on insurance agents, Solvency Margin, Reinsurance, Obligation of Insurers to Rural and Social sector, Investment and
Accounting Procedure, Protection of policy holders' interest etc. Applications
were invited by the Authority with effect from 15th August, 2000 for issue of
the Certificate of Registration to both life and non-life insurers. The Authority
has its Head Quarter at Hyderabad. Detailed information on IRDA is available
at their web-sitewww.irdaindia.org

A. Protection of the interest of policy holders:

IRDA has the responsibility of protecting the interest of insurance

policyholders. Towards achieving this objective, the Authority has taken the
following steps:

IRDA has notified Protection of Policyholders Interest Regulations

2001 to provide for: policy proposal documents in easily understandable
language; claims procedure in both life and non-life; setting up of grievance
redressed machinery; speedy settlement of claims; and policyholders'
servicing. The Regulation also provides for payment of interest by insurers
for the delay in settlement of claim.

The insurers are required to maintain solvency margins so that they are
in a position to meet their obligations towards policyholders with regard to
payment of claims.
It is obligatory on the part of the insurance companies to disclose
clearly the benefits, terms and conditions under the policy. The
advertisements issued by the insurers should not mislead the insuring public.
All insurers are required to set up proper grievance redress machinery
in their head office and at their other offices.
The Authority takes up with the insurers any complaint received from
the policyholders in connection with services provided by them under the
insurance contract.

B. The first Indian Insurance Company was the Bombay Assurance Society
Ltd. In 1870 other companies like:
1. Hindustan Co-operative in Kolkata.
2. National Insurance in Kolkata.
3. Bombay Life in Mumbai.
4. New India in Mumbai
5. Jupiter in Mumbai

6. Lakshmi Insurance in New-Delhi

2.3: KEY MILESTONES:

1912: The Indian Life Assurance Companies Act enacted as the first statute to
regulate the life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government
to collect statistical information about both life and non-life insurance
businesses.
1938: Earlier legislation consolidated and amended by the Insurance Act with
the objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers along with provident societies were
taken over by the central government and nationalized. LIC was formed by an
Act of Parliament- LIC Act 1956-with a capital contribution of Rs. 5 Crores
from the Government of India.

Insurance Industry in the year 2000-2001 had 13 new entrants, namely**:

Table: 2.1

S.No.

Reg. No.

1.
101
Company

Date of Reg.
23.10.2000

Name of the Company

HDFC Standard Life Insurance

2.
103
Company Ltd.
3.
Ltd.

104

4.
105
Company
5.
107
Insurance

23.10.2000
15.11.2000
24.11.2000
10.01.2001

Reliance General Insurance

Max New York Life Insurance Co.
ICICI Prudential Life Insurance
Kotak Mahindra Old Mutual Life

6.
Ltd.

109

31.01.2001

Birla Sun Life Insurance Company

7.
Ltd.

110

12.02.2001

Tata AIG Life Insurance Company

8.
Limited

111

30.03.2001

9.
Ltd.

114

10.
Ltd.

116

03.08.2001

Bajaj Allianz Life Insurance Co.

11.
Ltd.

117

06.08.2001

MetLife India Insurance Co. Pvt.

12.
122
Pvt. Ltd.
13.
Ltd.

127

02.08.2001

SBI Life Insurance Company

14.05.2002
06.02.2004

ING Vysya Life Insurance Co. Pvt.

Aviva Life Insurance Co. India

Sahara India Insurance Company

**Source: - Insurance Industry (ICFAI publication book)

2.4: Insurance Regulatory and Development Authority (IRDA):

In 1999, the Insurance Regulatory and Development Authority (IRDA) were
constituted as an autonomous body to regulate and develop the insurance
industry. The IRDA was incorporated as a statutory body in April, 2000. The
key objectives of the IRDA include promotion of competition so as to enhance
customer satisfaction through increased consumer choice and lower premiums,
while ensuring the financial security of the insurance market. The IRDA
opened up the market in August 2000 with the invitation for application for
registrations. Foreign companies were allowed ownership of up to 26%. The
Authority has the power to frame regulations under Section 114A of the
Insurance Act, 1938 and has from 2000 onwards framed various regulations
ranging from registration of companies for carrying on insurance business to
protection of policyholders interests.

Role of IRDA:

Protecting the interests of policyholders.

Establishing guidelines for the operations of insurers, and brokers.

Specifying the code of conduct, qualifications, and training for

insurance intermediaries and agents.

Promoting efficiency in the conduct of insurance business.

Regulating the investment of funds by insurance companies.

Specifying the percentage of business to be written by insurers in rural

sectors.

Handling disputes between insurers and insurance intermediaries.

A: Changing perception of Indian customers:

Indian Insurance consumers are like Indian Voters, they are soft but when time
is right and ripe, they demand and seek necessary changes. De-tariff of many
Insurance Products are the reflection of changing aspirations and growing
demand of Indian consumers.
For historical years, Indian consumers were at receiving end. Insurance
Product was underwritten and was practically forced onto consumers on a
Take-it-As-it-basis. All that got changed with passage of IRDA act in 1999.
New insurance companies have come into existence leading to open
competition and hence better products for customers.
Indian customers have become very sensitive to Coverage/Premium as well as
the Products (read Risk Solution), that is given to them. There are not ready to
accept any product, no matter even if that is coming from the market leader,
should that product is not serving the purpose. A case in point is ULIP
Product/Group Life and Credit Life in Life Insurance segment and
Travel/Family Floater Health and Liability Insurance in the Non-life segment
are new age Avatar. The new products are constantly being demanded by

Indian consumers, which is putting huge pressures on Insurance companies

(Read Risk Under-writers) and Brokers to respond.
Customers are looking at Insurance for covering Pure Risk now which I have
covered in my next section. Another good reason why we are seeing quick
changes in the buying behavior of Insurance from mere Investment to risk
mitigation is the cost of Replacement of Goods (ROG) or Cost of Services
(COS).
Now Indian customers are aware of insurance industry and insurance products
provided by companies. They have become more sensitive. They would not
accept any type of insurance product unless it fulfills their requirements and
needs. In historic days customers looking at insurance products as a life cover
which can provide security against any unacceptable events, but now
customers look at insurance products as an investment as well as life cover. So
todays customers wants good return from the insurance companies. The Indian
customers forms the pivot of each companys strategy.

B: Investment of Indian Household Savings**

(As a % in different sector)
Table: 2.2

BANK DEPOSITS

39%

CORP. BANKS

2%

SHARES AND DEBENTURES

1%

MUTUAL FUNDS

2%

NBFCS

3%

GOVT. BONDS

13%

INSURANCE

13%

PF/ RETIREMENT FUNDS

21%

CURRENCY

6%
**Source: - Insurance Industry (ICFAI publication book)

C: Changing Face of Indian Insurance Industry:

After the Insurance Regulatory and Development Authority Act have been
passed there has been establishment of many private insurance companies in
India. Previously there was a monopoly business for Life Insurance
Corporation of India (L.I.C.) who was the only life-insurance company for the
people till 2000. L.I.C. still holds 71.4% of the market share in 2006. But after
the introduction of private life insurance companies there is a great competition
in Indian market now. Everyone is trying to capture the fresh market here and
penetrate it with aggressive marketing strategies. Today life-insurance is not
only limited up to just life risk cover and maturity period bonuses but changed
to greater return from the investments. With the introduction of the unit linked
insurance policies these companies are investing the money in different
investment instruments like shares, bonds, debentures, government and other
securities. People are demanding for higher returns with the life risk cover and
private companies are giving 30-40% average growth per annum. These lifeinsurance companies have every kind of policies suiting every need right from
financial needs of, marriage, giving birth and rearing up a child, his education,
meeting daily financial needs of life, pension solutions after retirement. These
companies have every aspects and needs of our life covered along with the
death-benefit.
In India only 25% of the population has life insurance. So Indian life-insurance
market is the target market of all the companies who either want to extend or
diversify their business. To tap the Indian market there has been tie-ups
between the major Indian companies with other International insurance
companies to start up their business. The government of India has set up rules
that no foreign insurance company can set up their business individually here
and they have to tie up with an Indian company and this foreign insurance
company can have an investment of only 24% of the total start-up investment.

Indian insurance industry can be featured by:

Low market penetration.

Ever growing middle class component in population.

Growth of customers interest with an increasing demand for better

insurance products.

Application of information technology for business.

Rebate from government in the form of tax incentives to be insured.

Today, the Indian life insurance industry has a dozen private players, each of
which are making strides in raising awareness levels, introducing innovative
products and increasing the penetration of life insurance in the vastly
underinsured country. Several of private insurers have introduced attractive
products to meet the needs of their target customers and in line with their
business objectives. The success of their effort is that they have captured over
28% of premium income in five years.
The biggest beneficiary of the competition among life insurers has been the
customer. A wide range of products, customer focused service and professional
advice has become the mainstay of the industry, and the Indian customers
forms the pivot of each companys strategy. Penetration of life insurance is
beginning to cut across socio-economic classes and attract people who have
never purchased insurance before.
Life insurance is also now being regarded as a versatile financial planning tool.
Apart from the traditional term and saving insurance policies, industry has seen
the entry and growth of unit linked products. This provides market linked
returns and is among the most flexible policies available today for investment.
Now products are priced, flexible, and realistic and sustain so people in better

position to understand the risk and benefits of the product and they are
accepting these innovative products.
So it is clear that the face of life insurance in India is changing, but with the
changes come a host of challenges and it is only the credible players with a
long term vision and a robust business strategy that will survive. Whatever the
developments, the future and the opportunities in this industry will surely be
exciting.
There are 12 private players in Indian life insurance market.
6 bank owned insurers - HDFC standard life, ICICI prudential, ING Vysya,
MetLife, OM Kotak, SBI life
6 independent insurers - Aviva, ANP sanmar, Birla sun life, Bajaj Allianz, Max
New York life, Tata-AIG, Bharti-AXA
Major international insurers are- Prudential and Standard life from UK, Sun
life of Canada, AIG, MetLife and New York life of the US.

D: Increasing growth since liberalization*:

Table: 2.3

YEAR

LIC (in bn Rs.)

PRIVATE PLAYER

FY03

110

10

FY04

120

20

FY05

130

40

FY06

140

60

FY07

240

160

*Source: - Insurance Industry (ICFAI publication book)

3. RESEARCH METHODOLOGY:
3.1 The Marketing Research Process:
A Research Design is the framework or plan for a study which is used as a
guide in collecting and analyzing the data collected. It is the blue print that is
followed in completing the study. The basic objective of research cannot be
attained without a proper research design. It specifies the methods and
procedures for acquiring the information needed to conduct the research
effectively. It is the overall operational pattern of the project that stipulates
what information needs to be collected, from which sources and by what
methods.
As MARKETING research is a systemic and formalized process, it follows a
certain sequence of research action. The marketing process has the following
steps:

Formulating the problems

Exploration of the situation

Developing objectives of the research

Designing an effective research plan

Data collection techniques

Analysis f the collected data

Evaluating the data and preparing a research report

Primary Research:Primary data are the data that are collected to solve a problem or take
advantage of any opportunities on which a decision is depending. These data
are basically observed and recorded by the researcher for the first time.
Research Design:For this study a survey research was adopted with the help of primary data. For
getting primary data the research tool was a structured questionnaire.
Sample Size: The sample for the purpose of study was the 50 customers.

Sample Design: A sample design not only seeks to determine the size of sample and also the
sampling unit. The sample for the purpose of study was the customer.
Sample Techniques: The techniques adopted of selection of sampling of sample for study was
simple random sampling method.
Questionnaire Design: The author had a set of ideas and expected result based on those ideas from the
questionnaire. For this reason questions were:

Related to the field of study.

Related to the research hypothesis.
Questions must bear significance to concerned area of research.
Questions must seek information unattainable from other sources.
The must be short as possible but comprehensive enough to allow the
author to derive his requirement of his research.
Questions were well laid out.

3.2: Data Collection:

After the research methodology, research problem in MARKETING has been
identified and selected; the next step is to gather the requisite data. There are
two types of data collection method primary data and secondary data.

Primary data collection method for observing working of company

and approaching various persons of the MARKETING Department and
asking them questions and notes written down while observing and
assisting MARKETING persons in their work.

Secondary data collection method was used by referring to company

records, files, and journals, broachers various websites, books,
magazines, journals and daily newspapers for collecting information
regarding project under study.

A: Bharti-AXA Business build-up in 3 years (INR Crs.)*:

*Source: As per comparison done on the basis of figures published in IRDA journals

B: Bharti-AXA branch build-up in 3 years*:

250
200

Bharti-AXA

150

HDFC Standard

100

ICICI Prudential

SBI Life

Max New York

50
0
Year 1

Met Life
Bajaj Allianz
Year 2

Year 3

*Source: As per comparison done on the basis of figures published in IRDA journals.

3.3: Limitation of the Study:

However I tried my best to have desired information from he information from
the respondents and to make the report fruitful but some limitations are bound
to incur which may affect the results or findings.
1. No Secondary Data:
As the subject of my project viz. consumers aptitude towards unit-linked
product was new so I was unable to have secondary data for the purpose of my
study.
2. Small sample size:
As sample size taken by me for purpose of survey was 50 respondents. So the
result may have some deviations from the facts because of small sample size.
3. Limited area and time:
The study although carried out with the fullest possible effort and devotion, the
limitation of time, resources available may lead to an element chance of some
error.

4: DATA ANALYSIS:

No. of respondents which are aware of life Insurance

Do you know about Life Insurance Policy?

Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Yes

48

96.0

96.0

96

No

4.0

4.0

100

Total

50

100.0

100.0

Do you know about life insurance policy?

yes
no

Inference:
Above bar chart shows that 96% of Peoples know about life insurance.

No. of respondents having the life insurance policy

Do you have any Life Insurance Policy?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Yes

43

86.0

86.0

86

No

14.0

14.0

Total

50

100.0

100.0

100

Do you have any Life Insurance Policy?

Yes
No

Inference:
Above bar chart shows that 86% of respondents having Life Insurance.

Respondents preference in Investment

Where would you prefer to invest?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Govt. Securities

10

20.0

20.0

20

Mutual Funds

18

36.0

36.0

56

Equity Shares

14

28.0

28.0

84

Insurances

16.0

16.0

100

Total

50

100.0

100.0

Where would you prefer to invest?

Govt. Securities
Mutual Funds
Equity Shares
Insurances

Inference:
Above pie chart show that 20% respondent of preferred in Govt. Security, 16%
Insurance, 36% Mutual Funds and 28% in Equity Share.

Criteria of Invest of respondent

On which criteria do you invest?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Expert

10

20.0

20.0

20

17

34.0

34.0

54

Own Analysis

23

46.0

46.0

100

Total

50

100.0

100.0

Advice
Friendly
Advice

On which criteria do you invest?

50
40

On which criteria do you

invest?

30
20
10
0
Expert Advice

Friendly Advice

Own Analysis

Inference:
The majority of respondents invest their money by their own analysis i.e.46%, by
friendly advice 34% respondents invest and 20% respondents invert their money by
taken experts advice.

Source of Income of respondents

What is your source of income?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Self

13

26.0

26.0

26.0

Business

18

36.0

36.0

62.0

Salaried

19

38.0

38.0

100.0

Total

50

100.0

100.0

Employed/Professiona
l

What is your source of income?

40
35
30
What is your source of income?

25
20
15
10
5
0

Self Employed/Professional

Business

Salaried

Inference:
The majority of respondents are fall in the category of Salaried, approximately 38%,
where as 36% are having Business and 26% are self employed.

Annual Income of respondents

To which income group you belong?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

> 1,00,000

10

20.0

20.0

20

1,00,000 to
2, 00,000

20

40.0

40.0

60

200,000 to

15

30.0

30.0

90

10.0

10.0

100

50

100.0

100.0

500,000
500,000 &
above
Total

To which income group you belong?

40
35
30
25
20
15
10
5
0

To which income group you

belong?

Inference:
It shows that Annual income of majority of respondents falls in the category of 1-2lac,
approximately 40%. Whereas 20% in <1 lack, 30% in 2-5 lacks, 10% in 5 lacks or
above.

Type of Plan respondents Prefer

What type of plan would you prefer?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Endowment

23

46.0

46.0

46

13

26.0

26.0

72

Money Back

16.0

16.0

88

Term

12.0

12.0

100

50

100.0

100.0

Pure Risk

Insurance
Total

What type of plan would you prefer?

50
45
40
35
30
25
20
15
10
5
0

What type of plan would you

prefer?

Inference:
Above Bar Chart shows that majority of respondents prefer Endowment 46%, 26%
Money Back, 16% Pure Risk and around 12% prefer Term Insurance Plan.

Investment range of Respondents

How much can you invest per annum?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

< 10,000

20

40.0

40.0

40

10,000 -

13

26.0

26.0

66

10

20.0

20.0

86

> 20,000

14.0

14.0

100

Total

50

100.0

100.0

15,000
15,000 20,000

How much can you invest per annum?

40
35
30
25
20
15
10
5
0

How much can you invest

per annum?

Inference:
It show that 26% of respondents invest around 1000-15000, where as 40 %< 10,000,
20% 15000-20000, 14% invest 20000 or above.

Respondents preferred Duration of Policy

For what duration would you like to hold the policy?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

< 5 Years

18

18

18

5-10 Years

18

36

36

54

10 -20 Years

16

32

32

86

> 20 Years

14

14

100

Total

50

100.0

100.0

For what duration would you like to hold the policy?

40
35
30
For what duration would you
like to hold the policy?

25
20
15
10
5
0
< 5 Years

5-10 Years 10 -20 Years > 20 Years

Inference:
It shows that the 36% of respondents prefer 5-10 years policy duration, where as 18%
in <5 years, 32% in 10-20 years, 14% prefer 20 Years or above duration.

Respondents Expectation from the Insurance Company

What is your main expectation from the insurance company?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Security

24

48

48

48

Good Return

13

26

26

74

Service

14

14

88

Flexibility

12

12

100

Total

50

100.0

100.0

What is your main expectation from the insurance company?

50
45
40
35
30
25
20
15
10
5
0

What is your main

expectation from the
insurance company?

Security

Good Return

Service

Flexibility

Inference:
It shows that majority of respondents prefer security 48%, 26% good return,
14%service and around 12% prefer flexibility from insurance company.

Additional Benefits respondent prefer from policy

What additional benefit do you want from the policy?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Accidental

13

26.0

26.0

26

Critical Illness

16

32.0

32.0

58

Start of Life

16.0

16.0

74

Family Income
Benefit

13

26.0

26.0

100

Total

50

100.0

100.0

What additional benefit do you want from the policy?

35
30
25
20
15

What additional benefit do

you want from the policy?

10
5
0

Inference:
It shows that majority of respondents prefer critical illness 32%, 26% accidental,
16%start of life and around 26%prefer family income benefit.

Respondents Logic behind taking an insurance plan

What is your logic behind taking an insurance plan?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Tax Planning

12

24.0

24.0

24

Risk Cover

15

30.0

30.0

54

Retirement
Planning

16.0

16.0

70

Investment
Planning

12.0

12.0

82

5.00

18.0

18.0

100

Total

50

100.0

100.0

What is your logic behind taking an insurance plan?

30
25
20
15
What is your logic behind
taking an insurance plan?

10
5
0

Inference:
It shows that 30% of respondent prefer risk cover, 24% prefer tax planning, 12%prefer
Investment, 16%prefer retirement planning and18% prefer all of these.

Company preference of respondents

Which company would you prefer to invest in?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

L.I.C.

15

30.0

30.0

30

HDFC

14.0

14.0

44

Bajaj Allianz

10

20.0

20.0

64

ICICI Prudential

16.0

16.0

80

Bharti-AXA

12.0

12.0

92

Others

8.0

8.0

100

Total

50

100.0

100.0

Which company would you prefer to invest in?

30
25
20
15
10
5
0

Inference:

Which company would you

prefer to invest in?

It shows that majority of respondents prefers LIC about 30%, 12% Bharti AXA,
20%Bajaj Allianz , 14% HDFC Standard life,16% ICICI Prudential and 8%prefer
others.

Satisfaction level of respondent with their L.I. Company

Are you satisfied with the services that are offered by your insurance
company?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Yes

33

66.0

66.0

66

No

17

34.0

34.0

100

Total

50

100.0

100.0

Are you satisfied with the services that are offered by your insurance company?

70
60
Are you satisfied with the
services that are offered by
your insurance company?

50
40
30
20
10
0
Yes

No

Inference:
It shows the mostly number of people are satisfied with their life Insurance Company
around 66%.

The Factors that motivated respondents to prefer Bharti AXA

What are the factors that have motivated you to prefer Bharti AXA over
the other companies?

Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Brand Name

15

30.0

30.0

30

Goodwill of
Bharti-AXA

19

38.0

38.0

68

Service

18.0

18.0

86

Advertisement

14.0

14.0

100

Total

50

100.0

100.0

What are the factors that have motivated you to prefer Bharti AXA over the other companies?
40
35
30
25

What are the factors that

have motivated you to
prefer Bharti AXA over the
other companies?

20
15
10
5
0

Inference:
It shows that 38% of respondents prefer Bharti AXA for its good will & 30% for
Brand Name, 18% for service & 14% people prefer due to advertisement.

Respondents which again prefer to buy Bharti AXA products

If Given a Chance do you again prefer to buy the Bharti AXA Life
Insurance policy in future?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Yes

35

70.0

70.0

70

No

15

30.0

30.0

Total

50

100.0

100.0

100

If Given a Chance do you again prefer to buy the Bharti AXA Life Insurance policy in future?

70
60
If Given a Chance do you
again prefer to buy the
Bharti AXA Life Insurance
policy in future?

50
40
30
20
10
0
Yes

No

Inference:
It shows the mostly number of people are again going to buy Bharti AXA Life
Insurance Company products around 70%.

Factor which most dissatisfy a respondent from Bharti AXA

What is the most dissatisfying factor do you feel about Bharti AXA?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

After Sales
Service

12

24.0

24.0

24

Product
Diversification

19

38.0

38.0

62

Fund
Performance

10

20.0

20.0

82

Advertisement

18.0

18.0

100

Total

50

100.0

100.0

What is the most dissatisfying factor do you feel about Bharti AXA?
40
35
30
25
20

What is the most

dissatisfying factor do you
feel about Bharti AXA?

15
10
5
0

Inference:
It shows that 24% of respondents dissatisfied with after sales service of Bharti AXA &
38% for product diversification, 20% for fund performance & 18% people dissatisfied
due to advertisements.

Reason behind not purchasing of a Bharti AXA Policy

What are die reason behind not purchasing/taking a Bharti AXA life
insurance policy?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Trust

11

22.0

22.0

22

Service

19

38.0

38.0

60

Advertisement

12

24.0

24.0

84

Market
Reputation

16.0

16.0

100

Total

50

100.0

100.0

What are die reason behind not purchasing/taking a Bharti AXA life insurance policy?
40
35
30
25
20
15
10

What are die reason behind

not purchasing/taking a
Bharti AXA life insurance
policy?

5
0

Inference:
It shows that 22% of respondents are not purchasing Bharti AXA Policy due to trust &
38% due to service, 24% due to Advertisement & 16% people due to advertisements.

Ranking of service offered by Bharti AXA Life Insurance

Rank the service of Bharti AXA Life Insurance?
Valid

Frequency

Percent

Valid Percent

Cumulative
Percent

Excellent

16.0

16.0

16

Good

20

40.0

40.0

56

Average

13

26.0

26.0

82

Below Average

18.0

18.0

100

Total

50

100.0

100.0

Rank the service of Bharti AXA Life Insurance?

40
35
30
25

Rank the service of Bharti

AXA Life Insurance?

20
15
10
5
0
Excellent

Good

Average Below Average

Inference:
It shows that 16% of respondents feels services offered by Bharti AXA are Excellent
& 40% thinks good, 26% feels Average & 18% people feels below average.

5. FINDINGS:
There are a lot of possibilities in the market for Bharti AXA Life Insurance
Products due to their unique features. To get the benefit of this opportunity the
company should consider the following points.

1. The study shows that there is less awareness for the companys Plans in
Market. So it is necessary for company to make aware to the people for
company. The company should go for advertisements at local level.
2. Awareness of customers is very low in India even educated persons are
unaware about various products of insurance company. Company should
advertise their plans on a large scale e.g. on T.V. channel, leading newspapers
etc.
3. Company should recruit new agents or consultants. It is necessary for
company to trend them in a well manner therefore they will gave good results.
4. Company should make plans for promotion of company business it should
organize road shows seminars, exhibition or contests because these things
make a clear picture of companys plans.
5. Bharti AXA should open the branches and enhance its infrastructure so that
the people of that region can also be awarded about these plans.
6. Company should open customer service point in rural areas also.
7. Company should issue less premium plan.

6. CONCLUSION:

The objective of the project of studying the ANALYSIS OF BHARTI-AXA

RANGE OF SERVICES has been achieved during the course of time. Today
insurance industry is a rapidly growing sector. After coming of the private
players this industry is becoming complex day to day and their competition
very fast.
After analyzing the responses of the people about main feature which influence
the insurance buying, the result shows that awareness level is increasing day by
day about the private insurance company. Till 1999 LIC have the monopoly in
insurance sector. But today is the era of private insurance companies, and the
awareness level and buying behavior is increasing day by day.
Major finding of the study show that protection is the prime preference along
with saving or tax benefits. At the same time people are more focused on their
Childrens future planning In particular Bharti AXA Life Insurance has huge
brand awareness in the urban market due to Bharti Airtel presence in the
market. But at the same time company is struggling for its market share in
rural market. In brief it can be said that the people are getting confident to be
the investor of Bharti AXA Life Insurance products while they have heard
about all the benefits of these plans.

REFERENCES:

Reference to a book:
Marketing Research An applied orientation by Malhotra Dash
Marketing Research by S.L. Gupta
Insurance Industry (ICFAI publication book)
Reference to Websites:
- www.bharti-axalife.com
- www.avivaindia.com
- www.google.co.in
- www.irda.org.in

Other
Bharti-AXA manuals.
Inconversation Newsletter
IRDA journals

ANNEXURE:
Questionnaire:
General Information:
1. Name:
2. Age:
3. Sex: Male [ ] Female [ ]
4. Marital Status: Single [ ] Married [ ]
5. Educational Background: High School [ ] Plus 2 [ ] Graduation [ ] Post
Graduation [ ]
6. Address: ___________________________________________

Questions:
_______________________________________________________________
____________
1. You are? Self Employed / Professional [ ] Business owner [ ] Salaried [ ]
2. Which income group do you belong to? > 1, 00,000 [ ] 1, 00,000 to 2,
00,000 [ ] 200,000 to 500,000 [ ] 500,000 & above [ ]
3. Are you aware about the different options of investment? Yes [ ] No [ ]
4. On whose advice would you invest? Experts Advice [ ] Friends Advice [ ]
Self Analysis [ ]
5. Where would you prefer to invest? Govt. Securities [ ] Mutual Funds [ ]
Equity Shares [ ] Insurance [ ]
6. Are you aware that Life Insurance is a good option for investment, tax
saving, savings as well as financial protection? Yes [ ] No [ ]
7. Do you have any Life Insurance Policy? Yes [ ] No [ ]
8. What type of plan do you have or would you prefer? Investment [ ] tax
saving [ ] savings [ ] as well as financial protection [ ]
9. How much do you pay or can you invest per annum? < 10,000 [ ] 10,000 15,000 [ ] 15,000 - 20,000 [ ] > 20,000 [ ]
10. For what duration would you like to hold the policy? < 5 Years [ ] 5- 10
Years [ ] 10 - 20 Years [ ]
> 20 Years [ ]
11. What is your main expectation from the insurance company? Security [ ]
Good Return' [ ] Service [ ] Flexibility [ ]
12. What additional benefit do you want from the policy? Accidental [ ]
Critical Illness [ ] Start of Life [ ] Family Income Benefit [ ]
13. What is your purpose behind taking an insurance plan? Tax Planning [ ]
Risk Cover [ ] Retirement Planning [ ] Investment Planning [ ] All of these [
]
14. Which company would you prefer to invest in? L.I.C. [ ] HDFC [ ] Bajaj
Allianz [ ] ICICI Prudential [ ] Bharti-AXA [ ] others [ ]

15. Are you satisfied with the services that are offered by your insurance
company? Yes [ ], No [ ]
16. What are the factors that have motivated you to prefer Bharti AXA over the
other companies? Brand Name [ ] Goodwill of Bharti AXA [ ] Service [ ]
Advertisement [ ]
17. If Given a Chance do you again prefer to buy the Bharti AXA Life
Insurance policy in future? Yes [ ] No [ ]
18. What is the most dissatisfying factor do you feel about Bharti AXA? After
Sale Service [ ] Product Diversification [ ] Fund Performance [ ]
Advertisement [ ]
19. Rank the service of Bharti AXA Life Insurance? Excellent [ ] Good [ ]
Average [ ] Below Average [ ]