A Project Report On

“How To Increase General Insurance Sales In Market of Siliguri”

Undertaken at

Cholamandalam MS General Insurance Company Limited

Submitted by

Dipanjan Das

PGDM -420920247(092115)

Guided by

Dr.Sandhya R. Anvekar

M S Ramaiah Management Institute

M S Ramaiah Nagar,

MSRIT Post,

Bangalore – 560054

July Batch: 2009 – 2011

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 STUDENTS DECLARATION

I declare that the project titled on “How To Increase General Insurance Sales In Market
of Siliguri” is an original project done by me and no part of the project is taken from any
other project or materials published or otherwise or submitted earlier to any other college or
university.

Dipanjan Das

Student’s signature

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M.S.RAMAIAH INSTITUTE OF MANAGEMENT Page 3
 CERTIFICATE BY THE GUIDE

Certified that this dissertation is based on an original project study conducted by Mr Dipanjan

Das under my guidance. This has not formed a basis for the award of any other degree/diploma

by the any university.

Place: Bangalore FACULTY GUIDE’S SIGNATURE

Date : Dr.Sandhya R. Anvekar

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 Acknowledgement

In the first place, I would like to express my sincere gratitude to all those who gave me the
opportunity to complete this training. I want to thank my college for giving me permission to
undergo training with Cholamandalam General Insurance Company.

I wish to thank Mr. Arindam Sarkar(BRANCH MANAGER OF CHOLAMANDALAM) and

Mr. Biswajeet Bhowmik for their support and encouragement during the 45 days of this project
work. They have provided an optimum working environment at the Sales market.

I wish to extend my special gratitude to our Dean Dr.C.S Thammaiah, Prof. Purnima
Ramaswamy(Course-coordinator-AIMA). I express a deep sense of indebtedness to my
Project Guide Dr. Sandhya R. Anvekar of MS Ramaiah Management Institute,
Bangalore for their valuable guidance and constructive suggestions in the preparation of the
Project Report. I also wish to thank Mr. Arindam Sarkar(BRANCH MANAGER OF
CHOLAMANDALAM) and Mr. Biswajeet Bhowmik for their support and encouragement
during the 45 days of this project work. They have provided an optimum working environment at
the Sales market.

I also take this opportunity to thank Mrs. Sradha (HR MANAGER) and Duty managers at
CHOLAMANDALAM for explaining the complete process of sales. I also extend my
appreciation to all staff members of the Sales Department for their assistance and support.

I am thankful to CHOLAMNADLAM MS GENERAL INSURANCE COMPANY for allowing

conducting survey at sales market.

Thank you

DIPANJAN DAS

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 BODY OF THE PROJECT

(Part I & II)

PART I : ORGANISATIONAL STUDY

The Organisational Study should include the following :

1) Mission, Vision & Objectives of the Organisation.

2) Organisation Structure & Culture

3) Key result areas of the department in which project is being done.

4) Financial highlights of the organisation during the last few years.

5) SWOT analysis of the department or organisation.

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 PART II : PROJECT REPORT :

1) Executive summary or Abstract.

2) Introduction / Background.

3) Statement of the Problem

4) Objectives of the study

5) Data Collection Methodology

6) Sampling Plan

7) Tools of data collection

8) Scope of the study

9) Analysis of Data

10) Findings and Conclusions

11) Suggestions and Recommendations.

Appendix.

Bibliography.

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]

Overview of Insurance Sector

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 INSURANCE SECTOR

The opening up of Insurance sector was a part of the on going liberalization in the financial

sector of India. The changing face of the financial sector and the entry of several companies in

the field of life and non life Insurance segment are one of the key results of these liberalization

efforts. Insurance business by way of generating premium income adds significantly to be the

GDP. Over the past three years, more than thirty companies have expressed interest in doing

business in India. The IRDA (Insurance Regulatory Development Authority) is the regulatory

authority, which looks over all related aspects of the insurance business. The provisions of the

IRDA bill acknowledge many issues related to insurance sector. The IRDA bill provides

guidance for three levels of players - Insurance Company, Insurance brokers and Insurance

agent. Life Insurance sector is one of the key areas where enormous business potential exists. In

India currently the life insurance premium as a percentage of GDP is 1.3 % against, 5.2 per cent

in the US.

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 GENERAL INSURANCE

General Insurance is another segment, which has been growing at a faster pace. But as per the
current comparative statistics, the general insurance premium has been lower than life insurance.
General Insurance premium as a percentage of GDP was a mere 0.5 'per cent in 1996. In the
General Insurance Business, General Insurance Corporation (GIC) and its four subsidiaries viz.
New India Insurance, Oriental Insurance, National Insurance and United India Insurance, are
doing major business. The General Insurance Industry has been growing at a rate of 19 percent
per year.

The entry of several private insurance companies, particularly international insurance companies,
through joint ventures, will speed up the process of insurance mobilization. The competition will
unleash new schemes and benefits, which will give consumers a better Chance to save as well as
insure. The regulatory system in India is relatively new and takes some more time to make the
Insurance sector a perfectly competitive one. Insurance Regulatory Authority of India issued
regulations on 15 subjects which included appointed. Actuary, actuarial report, Insurance agents,
Solvency margins, reinsurance, registration of Insurers, and obligation of insurers to rural and
social sector, investment and accounting procedure. The reform in Insurance in India is guided
by factors like availability of a variety of products at a competitive price, improvement in the
quality of customer services etc. Also the employment opportunities in the Insurance sector wil1
increase as major players set their business plans in India. The policy of the government to open
up the financial sector and the Insurance sector is expected to bring greater FDI inflow into the
country. The increase in the investment limit in this vital sector has generated considerable
business interests among the foreign Insurance companies" Their entry wil1 certainly change the
Insurance sector considerably.

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 INSURANCE INDUSTRY: CLASSIFICATION

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 SOME PLAYERS IN THE INDUSTRY:

General Insurance

Life Insurance

Life Insurance Corporation of India General Insurance Corporation of India.

1. Oriental Insurance Company Ltd.

2. New India Assurance Company Ltd.

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 3. National Insurance Company Ltd.

4. United India Insurance Company Ltd.

New Entrants

ICICI Prudential Life Insurance Ltd. Bajaj Allianz General Insurance Company Ltd.

Tata AIG Life Insurance Corporation Ltd. Reliance General Insurance Company Ltd.

ING Vysya Life Insurance Corporation Ltd. Tata AIG General Insurance Company Ltd.

Om Kotak Mahindra Life Insurance Cholamandalam MS General Insurance Company

Limited.
Corporation Ltd.

Max New York Life Insurance Ltd

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 INSURANCE NEED

Why is insurance necessary? The question contains the answer within itself. After all, life is
fraught with tensions and apprehensions regarding the future and what it holds for the individual.
Despite all the planning and preparation one might make, no one can accurately guarantee or
predict how or when death might result and the circumstances that might ensue in its aftermath.
We are not saying that life and existence are constantly fraught with danger and uncertainty. But
then it is essential that you plan for the future. The chances for a fatality or an injury to occur to
the average individual may not be particularly high but then no one can really afford to
completely disregard his or her future and what it holds.
People generally regard insurance as a scheme when and where you have to lose a lot to gain a
little. Nevertheless, insurance is still the most reliable tool an individual can use to plan for his
future.
And just why is it necessary to plan for the future with Insurance?

An Overview

Insurance business is divided into four classes:

1) Life Insurance business

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 2) Fire
3) Marine
4) Miscellaneous Insurance.
Life Insurers transact life insurance business; the rest is transacted by General Insurers. No
composites are permitted as per law.

The business of Insurance essentially means defraying risks attached to any activity over time
(including life) and sharing the risks between various entities, both persons and organisations.
Insurance companies (ICs) are important players in financial markets as they collect and invest
large amounts of premium. Insurance products are multi purpose and offer the following
benefits:

1. Protection to the investors 2. Accumulate savings

MARKETING STRATEGY:

A marketing strategy is a process that can allow an organization to concentrate its (always

limited) resources on the greatest opportunities to increase sales and achieve a sustainable

competitive advantage.

Marketing strategy as a key part of the general corporate strategy marketing strategy is most

effective when it is an integral component of corporate strategy, defining how the

organization will engage customers, prospects and competitors in the market arena for

success. It is partially derived from broader corporate strategies, corporate missions, and

corporate goals. They should flow from the firm's mission statement. They are also

influenced by a range of micro environmental factors.

Marketing strategy and sectarian tactics and actions:

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A marketing strategy also serves as the foundation of a marketing plan. A marketing plan

contains a set of specific actions required to successfully implement a marketing strategy. For

example: "Use a low cost product to attract consumers. Once our organization, via our low cost

product, has established a relationship with consumers, our organization will sell additional,

higher-margin products and services that enhance the consumer's interaction with the low-cost

product or service."

A strategy consists of well thought out series of tactics. While it is possible to write a tactical

marketing plan without a sound, well-considered strategy, it is not recommended. Without a

sound marketing strategy, a marketing plan has no foundation. Marketing strategies serve as the

fundamental underpinning of marketing plans designed to fill market needs and reach marketing

objectives[3]. It is important that these objectives have measurable results.

A good marketing strategy should integrate an organization's marketing goals, policies, and

action sequences (tactics) into a cohesive whole. Many companies cascade a strategy throughout

an organization, by creating strategy tactics that then become strategy goals for the next level or

group. Each group is expected to take that strategy goal and develop a set of tactics to achieve

that goal. This is why it is important to make each strategy goal measurable.

Marketing strategies are dynamic and interactive. They are partially planned and partially

unplanned. See strategy dynamics.

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 TYPES OF MARKETING STRATEGIES:

Every marketing strategy is unique, but if we abstract from the individualizing details, each can

be reduced into a generic marketing strategy. There are a number of ways of categorizing these

generic strategies. A brief description of the most common categorizing schemes is presented

below:

Strategies based on market dominance - In this scheme, firms are classified based on their market

share or dominance of an industry. Typically there are three types of market dominance

strategies:

• Leader

• Challenger

• Follower

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Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength.

Strategic scope refers to the market penetration while strategic strength refers to the firm’s

sustainable competitive advantage.

• Cost leadership

• Product differentiation

• Market segmentation

Innovation strategies - This deals with the firm's rate of the new product development and

business model innovation. It asks whether the company is on the cutting edge of technology and

business innovation.

There are three types:

• Pioneers

• Close followers

• Late followers

Growth strategies - In this scheme we ask the question, “How should the firm grow?”. There are
a number of different ways of answering that question, but the most common gives four answers:

• Horizontal integration
• Vertical integration
• Diversification
• Intensification
A more detailed schemes uses the categories:

• Prospector

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 • Analyzer
• Defender
• Reactor

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 PART -1

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 MISSION, VISSION & OBJECTIVES:

This is a general insurance organization they are hardly believed on their services. Main mission
of the organization is to maximize their wealth sector in short they are looking for wealth
maximization not only their profit maximization. Through the wealth maximization the company
believes to grow their public relationship with their clients & their stake holders which is the key
factor of the company to grow & develop to establish their business.

The employees those who are engaging with the company they all believe
that “this is not enough we want more than what we have got”, this line motivated them to work
harder in a smartest way. Basically the employees are the key factor to made one of the fastest
growing General Insurance Company. The next few year s they will try to develop their
organization as a world largest General Insurance Company in the world.

Cholamandalam MS Vision

“We bring peace of mind to our clients through protection from financial risks”

In essence Peace of Mind means the following:

• • Hassle-free acceptance of proposal, issuance of policy, processing of endorsements and

renewals.
• Settlement of valid claims with empathy
• Strong commitment to customer service
• Advising risk management practices and techniques resulting in minimizing claims
In short, our vision is to help our clients lead happy wholesome lives and at the same time be by
their side to provide financial support in their hour of need.

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 Cholamandalam MS Core Values

 Their value system revolves around being an ever-evolving organization, dedicated to bringing
 quality into the lives of our consumers as well as enriching our employees, by providing
opportunities for their growth and development in a healthy, respectable atmosphere.
  They will be a customer-centric organization

  They will be known to be ethical, fair and transparent

  They will strive to be innovative and responsive in all that we do

  They will continually seek avenues of profitable growth

 They will ensure a congenial and empowered work environment to our employees while
providing opportunities for their learning and growth.

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 ORGANISATION STRUCTURE & CULTURE:
The energetic and vibrant families of 700 Cholamandalam MS employees across the country are
responsible for the smooth and successful running of the organization.

This dynamic team is spearheaded by Mr. S S Gopalarathnam, Managing Director and his
distinguished team.

Yu Kitai
(DIRECTOR)

Shivakumar Sundar V 
Shankar 

(Senior Vice President  Vice President (IT)
Retail Insurance)

M Subramanian Raymund Lobo 

  (Senior Vice 
vice president  (HR)
President 
-Commercial 
Insurance)

R Suresh
V.Suryanarayanan 
 Vice President –     
(Senior Vice President  Claims
Finance)

A Prabhakaran 
R Chandrasekaran 

(Senior Vice President   Vice President       
Underwriting &  (Operations)
Reinsurance)

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 AREA OF THE STUDY:

The area of study related with getting correct information of general insurance policies of
different peoples in the region of North Bengal

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 REWARDS & ACHIVEMENTS:

They offer a unique combination of efficient insurance services and innovative risk management
consultancy to our customers - Total Risk Management solutions. Their group company,
Cholamandalam MS Risk Services offers consultancy in the area of risk identification,
assessment and suggesting risk control and mitigation measures alongside the Insurance support
services. This ensures long-term business continuity for all their corporate customers.
Adding another feather to their cap, Cholamandalam MS Risk Services has won the
prestigious “Risk Manager of the Year 2007” at the 11th Asian Insurance Industry Awards.

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 FINANCIAL HIGHLIGHTS:

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 SWOT ANALYSIS:
Strength

• Strong brand name of Murugappa Group, 100 years business in this sector.

• In house claim settlement.

• Various range of product.

• 110 Branches accesses country.

• Fastest growing Insurance Company.

• Chola MS Risk Service.

Weakness-

• Centralize policy issue.

• Restriction in commercial vehicle segment.

• Two wheeler markets not trapped.

Opportunity-

• Can develop business in rural area through Central Bank tie up.

• Put car business share can grow in competent rating.

• Premium share can increase in commercial vehicle segment.

• Two wheeler markets can provide good business.

Threat-

• New General Insurance Company appearing market with high discount & high
commission.

• Manpower retention is higher threat of the organization.

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 • Policy services need to improve.

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 PART-2

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 SUMMERY OF THE PROJECT:

The Project basically involved increasing the sale of general insurance in the Siliguri market .

The following were the findings I came about after studying the market.

1. The study was conducted at Cholamandalam general insurance in Siliguri market, which
has 127 to 150 insurance care consultants only.
2. The consultants cannot communicate properly to the customers and that is the biggest
problem they face.
3. They require some agents, franchises for their brand promotion and advertisement.
4. Though their service is slow but customers are satisfied with their service.
5. The organisation has the chance to be a good market leader.

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 INTRODUCTION:

Cholamandalam MS General Insurance Company Ltd. is a Joint Venture between the USD 3
billion Murugappa Group, one of India’s leading business conglomerates and Mitsui Sumitomo
Insurance Company Limited, which is part of the Mitsui Sumitomo Insurance Group of Japan,
the largest General Insurance Company in Japan and 5th largest insurance group globally.

Chola MS offers a wide range of products that include Accident, Engineering, Health, Liability
and Marine, Motor, Property, Travel and Rural insurance for individuals, SME’s and corporate
sector. .

They have achieved Rs. 785 crores Gross Written Premium (GWP) mark for 2009-10. Having
posted a remarkable growth of 15% year-on-year, they have been one of the fastest growing
General Insurance companies for the previous many quarters. They have network of 108
branches all over India.

They offer well-integrated operational capabilities to ensure the smooth performance of delivery
like strong underwriting, tie-ups with global reinsurers, fast-track claims settlement and cash-free
settlement for Health Insurance. With exposure to various industry sectors and services, Chola
MS is fully equipped to provide world class customer service such as centralized policy issuance,
renewal management through CRM Cell. A toll free helpline number accessible 24 X 7 X 365,
and a completely interactive and user-friendly website which makes Chola SM accessible from
anywhere in the world. Chola MS is also the first Private Insurance company in India to get the
ISO 9001:2008 for the Motor Claims division.

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 Murugappa Group
The USD 3 billion Murugappa Group is today one of the country's biggest industrial houses.

The Group's business philosophy is inspired by this couplet from the ancient Indian treatise on
wealth creation and governance, the Arthashastra:

"The fundamental principle of economic activity is that no man you

transact with will lose, then you shall not."

Conducting business by a clear set of values and beliefs, the Group has observed very high
standards of ethics and transparency. Its belief in organizational renewal has allowed the Group
to adapt itself to changing economic contexts and grow from strength to strength.

Headquartered in Chennai, the 29 companies of the group have manufacturing facilities spread
across 13 states in India. They are the market leaders in India across a wide business spectrum
including Engineering, Abrasives, Finance, General Insurance, Cycles, Sugar, Farm Inputs,
Fertilizers, Plantations, Bio-products and Nutraceuticals. Some of the country's best-known
brands like BSA and Hercules in bicycles, Parrys Spirulina and Parrys Beta Carotene in
nutraceuticals, Ballmaster and Ajax in abrasives, Gromor and Paramfos in fertilisers, and many
more come from murugappa group.

The organization fosters an environment of professionalism and has a workforce of over 32,000
employees.

The Group has forged strong joint venture alliances with leading international companies
like Mitsui Sumitomo, Cargill and Groupe Chimique Tunisien has consolidated its status as
one of the fastest growing diversified business groups in India.

About Mitsui Sumitomo

The Mitsui Sumitomo Insurance Group (MSIG) is one of the most innovative and forward thinking
insurers in the market today. It is the largest Insurance Group in Japan, with a Net Written Premium
(NWP) of 12.64 billion USD in 2008.

The Company is the 5th largest insurance group globally and has 63 sales bases across 39 countries.
MSIG is highly acknowledged for its proven expertise in Property and Marine risks. It has been listed
as 10th amongst the World’s Most Admired Property & Casualty Insurance Companies across
the world by the prestigious Forbes magazine.

It was awarded the “General Insurance Company of the Year” Award in 2005 at the 9th Asia
Insurance Industry Award ceremony held in Singapore.

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 OBJECTIVES OF THE STUDY

• To study the sales Strategy of field force of Cholamandalam General Insurance..

• To study the process of selling of Insurance Policies by Advisors.

• How they sales the general insurance to their clients?

What kind of strategy they are using?

How they are dealing with clients?

How they convince them to buy the service?

These type of questions I have got it through the study.

• Now I have experienced that how to work in this this sector

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 COMPETITORS SHARES IN MARKET

ICICI
others 21%
23%

Oriented
15%

Bajaj
23%

Chola
18%

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 Business mix of Cholamandalam

Motor insurance has the biggest share in general insurance market and show a high growth over
three years. Corporate claims showed a low depression in year 2008-09 due to the recession
period. Health insurance has shown constant

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 TYPES OF SERVICES:

INDIVIDUAL CORPORATE RURAL

MOTOR HEALTH RURAL

TRAVEL FIRE

HEALTH ENGENEERING PROJECTS

PERSONAL ACCIDENTAL ENGENEERING

OPERATIONS
HOME CLAIM PROPERTY CRIME
INSURANCE
RETAIL CLAIMS MARINE INSURANCE

CORPORATE CLAIMS

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 RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research problem. Research

methodology constitutes of research methods, selection criterion of research methods, used in
context of research study and explanation of using of a particular method or technique so that
research result are capable of being evaluated either by researcher himself or by others. Why a
research study has been undertaken, how the research problem has been formulated, why data
have been collected & what particular technique of analyzing data has been used & a best of
similar other question are usually answered when we talk of Research methodology concerning a
research problem or study. The main aim of research is to find out the truth which is hidden &
which not been discovered as yet.

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 SAMPLE DESIGN

A sample design is a definite plan for obtaining a sample from a given population. It refers to the
techniques or the procedure the researcher would adopt in selecting items for the sample. Sample
design may as well be drawn from the population to be included in the sample i.e. the size of the
sample. Sample design is determined before data are collected.

During my study I have taken 50 insurance care consultants as the size of sample.

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 TOOLS USED

To know the response, I have used the questionnaire method. If one wish to find what insurance
care consultants think or know, the logical procedure is to ask them. This has led marketing
researchers to use the questionnaire technique for collecting data more than any other method.

In this method questionnaire were distributed to the respondents and they were asked to answer
the questions in the questionnaire. The questionnaire were structured non disguised questionnaire
because the question which the questionnaire contained, were arranged in a specific order
besides every question asked were logical for the study, no question can be termed as irrelevant.

The questionnaire was non-disguised because the questionnaire was constructed so that the
objective is clear to the respondent. The respondents were aware of the objective. They knew
why they were asked to fill the questionnaire.

With the help of following techniques, which are using by Cholamandalam. I analyze that the
how techniques of sales promotion are useful.

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 DATA COLLECTION

PRIMARY DATA SOURCES:

• Through interaction with insurance care consultant
• Through questionnaires filled from the insurance care consultant.

SECONDARY DATA SOURCES:

• Through internet, various official sites of the companies.

• Through pamphlets and brochures of the companies.
• Journals & Magazine
• Telephone directory

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 DATA ANALYSIS AND INTERPRETATION

(Based on survey conducted for 50 insurance care consultants)

Q.1 Which technique of sales promotion you prefer?

Options Response in %

Display 40%

Door to Door Demo 14%

Exhibition 16%

Catalogue 20%

Price Off 10%

Interpretation:

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According to the study 40% insurance care consultants prefer display technique,20% insurance
care consultants prefer catalogues, 16% to the exhibition, 14% to the door to door demo and 10%
insurance care consultants prefer price off technique.

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Q.2 Which technique is giving good response from customers?

Options Response in %

Display 18%

Door to Door Demo 36%

Exhibition 18%

Catalogue 16%

Price Off 12%

Interpretation:

According to the study 36% insurance care consultants say door to door demo techniques giving
good response, 18% insurance care consultants say to the display & exhibition, 16% to the
catalogues & 12% say to the price off technique.

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Q.3 Which technique is economically beneficial?

Options Response in %

Display 10%

Door to Door Demo 22%

Exhibition 10%

Catalogue 46%

Price Off 12%

Interpretation:

According to the 46% insurance care consultants, catalogue technique is economically

beneficial. 22% to the door-to-door demo and 12% insurance care consultants prefer price off
technique.10% to the exhibition & display technique.

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Q.4 Which technique requires less time in sales promotion?

Options Response in %

Display 22%

Door to Door Demo 38%

Exhibition 10%

Catalogue 16%

Price Off 14%

Interpretation:

According to the study 38% insurance care consultants say display technique requires less time
in sales promotion. 22% to the display technique, 16% insurance care consultants vote to the
catalogues, 14% insurance care consultants vote to the 10% to the exhibition.

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Q5 Which technique is easily manageable?

Options Response in %
Display 18%

Door to Door Demo 30%

Exhibition 10%

Catalogue 34%

Price Off 8%

Interpretation:

According to the study 34% insurance care consultants say that the catalogues is easily
manageable, 30% to the door to door demo,18% insurance care consultants prefer display
technique 10% to the exhibition, and 8% insurance care consultants say to the price off
technique.

Q.6 Which technique requires less knowledge to execute?

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Options Response in %

Display 14%

Door to Door Demo 12%

Exhibition 12%

Catalogue 22%

Price Off 40%

Interpretation:

According to the study 40% insurance care consultants vote to the price off technique is require
less knowledge to execute.22% insurance care consultants prefer catalogues, 14% to the display
and 12% to the exhibition & door to door.

Q.7 Which technique requires more knowledge to execute?

Options Response in %

Display 20%

Door to Door Demo 42%

Exhibition 24%

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Catalogue 10%

Price Off 4%

Interpretation:

According to the study 42% insurance care consultants vote to the door-to-door technique that it
requires more knowledge to execute than others. 24% to the exhibition, 20% to the display
technique, 10% insurance care consultants give vote to the catalogues and 4% insurance care
consultants prefer price off technique.

Q.8 Price off are necessary for sales promotion?

Options Responses in %

Yes 46%

No 40%

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Can’t say 14%

Interpretation:

According to the study 46% insurance care consultants say yes that the price off are necessary
for sales promotion. 40% say no and 14% say can’t say.

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Q.9 Do you think that sales promotion program that is presently undertaken by
Cholamandalam are satisfactory?

Options Responses in %

Yes 34%

No 46%

Can’t say 20%

Interpretation :

According to the study 46% insurance care consultants say No that the sales promotion program
that is presently undertaken by Cholamandalam are satisfactorily 36% say Yes and 20% say
can’t say.

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Q.10 Should Cholamandalam take up new sales promotion program?

Options Responses in %

Yes 72%

No 22%

Can’t say 6%

Interpretation:

According to the study 72% insurance care consultants say yes installment offers are 22% say no
and 6% say can’t say.

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 LIMITATIONS OF THE STUDY

Following limitations were faced during the study:

6. While designing the questionnaire it was kept in mind to gather more and more
information from each target person. For the neither present nor descriptive questions
could have served the purpose. Therefore the questionnaire contained in the open-ended
questions.
7. The study was conducted on Cholamandalam general insurance in Siliguri market, which
has 127 to 150 insurance care consultants only. The sample size was of 50 insurance care
consultants only so that accuracy of data so collected could be absurd covered by
circulation of questionnaire.
8. The accuracy of indications given by the respondents may not be consider adequate as
whether the language used in the questionnaire is understood by the respondent cannot be
taken for granted.
9. The study is based on the information gathered from the insurance care consultants.
Therefore in such case it is possible that the information supplied might be biased
because the insurance care consultant might have shown partiality towards their
insurance policies.
10. Since the survey was limited to 60 insurance care consultants it is rather difficult to give a
precise conclusion but I have tried to the best of my capability to give the conclusion on a
comprehensive manner.

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 OBSERVATIONS & FINDINGS

• This sales promotion process was very much satisfying for me not only practically and
academically but it also helped me in developing my communication skill and enriched
my knowledge also.
• I have come to know about the importance of marketing especially with regard to Sales
Promotion on the most renowned organization like Cholamandalam. Especially because
of emergence of many competitor with excellence in services & competitive product. The
base of this chapter conclusion is on the data analysis or what we say findings.
• I have finding from the insurance care consultants of the Cholamandalam and their
insurance policies on my topic.
• When the insurance care consultant is asked why they are dealing in this particular
insurance policies (product) they mostly stressed on company’s image. They also said
that all income and age group of customers are attracted towards their product but buyers
are mainly from higher and middle-income group.
• Insurance care consultants said that their sale is decreased in the last years because of
negative trend in market. Insurance care consultants said that the customer are curious in
getting insurance policies because they want more discounting on the products and low
claim time after any

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 SUGGESTIONS

Here are some suggestions, which may help to strengthen the firm further
• Many of the insurance care consultants of the cholamandalam . Has the lack of good
communication skills and training. So training should be easy.
• Cholamandalam. Should use new techniques of sales promotion.
• Customer services should be more comfortable than others.
• People must be made aware of the benefits of the policies of Cholamandalam.
• The company should give personal attention to each customer.
• Proper assistance should be provided to the customer at the time of claim settlement.
• All the details about the company should be given to the customers.
• Regular advertisement of the company should be given TV and Newspaper.
• The company must try to find new markets especially in the rural areas.
• The company should do frequent analysis of the competitors.
• They should provide some franchises to increase their sales in rural & semi urban areas
also.
• They should improve their service quality.

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 Questionnaire

Customer Details:

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Name : ________________________________________ Age: _______

Occupation:______________________
______________ Sex: _______(M/F)

Location:
______________________________________________________________________
______________________________________________________________________

Contact no: _____________________

Q 1.Do u have a car?

Ans: YES NO

Q 2. If yes which types of car do u have?

Ans: Passenger car Lorry Private car

Q 3.Do u know about Cholamandalam General Insurance company?

Ans: YES NO

Q 4. If yes had you ever dealt with Cholamandalam General Insurance company?

Ans: YES NO

Q 5. If yes are u satisfied with the services provided by the company?

Ans: YES NO

Q 6.If not then why you are not satisfied with the services?

Ans:_________________________________________________________________________

_________________________________________________________________________

#Customer suggestion: _________________________________________________________

________________________________________________________________________

_________________________

Date______________ Customer signature

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 The numbers of interacted People

Through the chart it is showing below

I have interacted with around 50 persons among them 38 were Men &12 were Women.

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 Ages of those persons

It described through the chart & is given below

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 Occupation

There have 54% people those who were related with business, 26%related with service and other
20% were unemployed.

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 Car Insurance

Those who were interested on car insurance

Among the 9 cars there have 7 private cars,2 lorry & 2 passenger cars.

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 Existing Customers

Among the existing customers those who were satisfied or unsatisfied about their service are
given below through a chart

Through the chart it is clear that more than 60% customer are satisfied with their service.

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 BIBILIOGRAPHY

• BOOK REFERENCE:

Hitchings Thomas. (1991)Political Science

Research Methodology

Marketing Management :Kazmi

• INTERNET

http:/www.google.com

http:/www.cholainsurance.com

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