PART – A : SYNOPSIS

WORKING TITLE:

Evaluation of potential customer for GENIUS PLAN of Sriram life insurance company.

PURPOSE OF THE RESEARCH:

purpose of this research is to identify potential customers who will be taking up Child Insurance plan
from Shriram Insurance company.

During course of time, Insurance companies identified that their Child Insurance plan is not meeting
targets or not performing well par with other insurance plans for other segments.

I will be doing the detailed research activity to identity the gap and based on my data analysis I will be
coming up with proposed solution or some recommendations.

In order to achieve this , I will plan my activities in following steps:

1. Reaching out to audience: Reaching out to different sets of persons based on their age, their
salary , gender, residence type .

2. Creating awareness and identifying customer's knowledge in this subject.

3. Based on my data collection, will do doing data analysis and coming up with statistics

4. With detailed data analytics , we will be having detailed explanations on gaps and we will be
having recommended solution.

OBJECTIVE:

 The objective of the research is to collect data from prospect customers about the
perception towards child insurance.
 To understand the real time challenges, face by investor.
 To evaluate the gap between expectation and real offerings.
 To develop the customer profile.

KEY QUESTIONS / RESEARCH QUESTIONS:

Child insurance investment plan is a mix of investment and insurance that help in financial planning for
kids future needs and requirement at the right time .
Most of the parents have various concern about their children’s future and they have most of the question
like:

 Can I afford my kid education?

 Do I have enough money in my bank account?
 What if something bad happen to me? who will take care of them?
 But many of the customer don’t consider the most important question - Should I buy an
investment plan for my kid?

HYPOTHESIS (OR KEY QUESTIONS):

Ho = People of age group 30 – 50 years are interested in Investing money in child plan.

Ha = Not interested.

RESEARCH METHODLOGY:

It deals with the procedure adopted to carry out the study.

 Research design: Descriptive research design (It helps in describing the characteristic of
population or phenomenon being studied)
 specify the data collection and methodology: Primary data is collected through questionnaire
and personal interview. Customer has option to answer the question to open ended question or
and multiple choice question. Secondary data is collected through E mail .
 specify the scaling procedure: Rank order scale (comparative scale) is the preferred scaling
procedure in which customer rank preferred mode of saving that is fixed deposit, recurring
deposit, chit fund , mutual fund , insurance , other etc.
 specify the sampling technique and sample size: Stratified sampling technique is the preferred
sampling technique under probability sampling.
Sample unit: customer
sample Size: 40
Sample profile : Age Group : 27 - 50 years
Gender : Male Female
Location : Bangalore
 sampling type : convenience sampling
 construct questionnaire:
1. Name :

2. Gender:
male
female
3. Age group:
Below 30 years
30-40 years
40-50 years

4. Occupation:
salaried
self employed
government
Home maker

5. Education that kid wants:

Doctor
Pilot
lawyer
6. other (specify )

7. Are you aware of the cost ?

yes
No
Not sure

8. Can I afford it ?
Yes
No
Not sure

9. How much can you spare for your child education per month ?
Less than 3000
3000-5000
5000 and above

10. What is your preferred mode of saving?

Fixed Deposit
Recurring deposit
Insurance
Mutual fund
Other specify

11. would you like to pay :

Quaterly
Half yearly
 Anually

12. Would you like to buy the Investment plan.

Yes
No
May be
Already insured
 Plan of data analysis: Analysis will be done through Table , Graph,Pie chart,and analysis in
percentage.

PROPOSED CONTENTS:

In order to achieve research outcome, we will be breaking our process in multiple steps which will include
the following below:

o Introduction about the shriram life insurance company and genius plan .
o Day to day tasked carried out and the learning outcomes.
o Literature review on sub category of genius plan of shriram life insurance company.
o Research methodology and data analysis.
o Conclusion based on out comes with recommendations.

WORK PLAN: