CONTENTS

PREFACE

ACKNOWLEDGEMENT

CERTIFICATE

DECLARATION

S.No Topic or Chapter Page No.

1. Chapter -1

1. Company profile of Aviva Life Insurance

2. Mission and Vision of Aviva Life Insurance

3. History of Aviva Life Insurance

4. Board of Directors

5. Awards of Aviva Life Insurance

2. Chapter -2

1. Objectives of Aviva Life Insurance

3. Chapter -3

1. Product or Policies of Aviva Life Insurance

4. Chapter- 4

1. Promotional Policies of Aviva Life Insurance

5. CHAPTER -5

1. Research and Methodology of Aviva Life Insurance

6. Chapter -6

a. Data Analysis and Interpretation

7. Chapter -8

a. Swot Analysis of Aviva Life Insurance

8. 1. Limitations of the study

2. Recommendations

3. Findings

4. Suggestions

9. Conclusion

10. Bibliography

11. Questionnaire

COMPANY PROFILE OF AVIVA LIFE INSURANCE

Aviva India is a joint venture between one of the country’s oldest and

largest groups, Dabur, and Aviva Group, one of the UK's largest insurance group, whose

association with India dates back to 1834.

Our vision is to be amongst India’s leading life insurers with a quality business model, focused

on sustainable growth. We seek to build a robust product portfolio meeting all customer lifecycle

needs related to – Protection, Retirement, Savings and Investments.

With a strong sales force of over 14,000 Financial Planning Advisers (FPAs), we have initiated

and pioneered many innovative sales approaches, including the concept of Bancassurance and

Financial Health Check services. We are among the first companies to introduce the

contemporary unit-linked products.

A seasoned team of fund managers make our fund management one of the key differentiators. In

India, with a wide distribution network of 134 branches spreading across nearly 1,000 towns and

cities, we operate in partnership with the Dabur Group through our 26% interest in Aviva Life

Insurance Company India Ltd.

Keeping with our commitment of social responsibility, we have been successful in reaching out

to the underprivileged strata through our Microinsurance initiatives.

"This is Aviva" tells the story of Aviva in the words of our customers, employees and charity

partners. It gives an insight into how Aviva makes a difference to the lives of our 34 million

customers around the world. Please let us know what you think about "This is Aviva" and we'd

be pleased for you to share it. 

The film was commissioned by Aviva plc, produced by Visual Media, and would not have been

possible without the support of Aviva's customers and employees.

VISSION AND MISSION

Vision: “One Aviva, twice the value”.

By working together across our businesses, we will optimize our performance in

theglobal marketplace and maximize the value we can generate for all our stakeholders.

MISSION

Aviva's strategic plan has three main objectives:

1. Narrow focus - Focus on fewer business segments where we believe we can produce

attractive returns and with a high probability of success.

2. Build financial strength - Achieve target economic capital levels in line with our industry

peers, reduce capital volatility, and bring leverage down to a conservative level.

3. Improve financial performance - Aim to deliver a higher level of revenue growth, a lower

cost-income ratio, lower losses and claims and higher return on capital, notwithstanding the

subdued economic environment in developed markets.

BOARD OF DIRECTORS

Name Designation

T R Ramachandran Chief Executive Officer & Managing Director

Rishi Piparaiya Director, Marketing and Bancassurance

Ravi Bhadani Company Secretary and Director - Legal & Compliance

Munish Sharda Director, Direct Sales Force

Jyoti Vaswani Chief Investment Officer & Director, Fund Management

Sanjeeb Kumar Appointed Actuary

Anupam Tyagi Chief Risk Officer

Amit Malik Director, HR

Snehil Gambhir Chief Operating Officer

Vijayalakshmi Natarajan Director, Operations

Jitendra Nayyar Director, Finance

Sanjay Satyapaul Arora Associate Director, Internal Audit

AWARDS AND RECOGNITION

Aviva India won a Bronze at the Effies 2010 for the Aviva Great Wall of Education, part

of Aviva's Street to School Program. The Effies are among the top award platforms for the

advertising community in India and worldwide. Aviva Great Wall of Education

was awarded this elite recognition for the marketing effectiveness displayed during this

campaign.

Aviva India has won a Gold at the SPIKES Asia Awards, 2010 for the 'Aviva Great Wall

of Education' which is part of the Street to School programme. The SPIKES Awards is one

the most prestigious awards for creative advertising across the Asia Pacific region. Aviva

Great Wall of Education was awarded this elite recognition for the category- 'Best use of

Ambient Media'.

Aviva India has won the "Corporate Social Responsibility Award" at the prestigious Asia

Insurance Industry Awards 2010 for its corporate social responsibility programme – 'Street

to School' for demonstrating how corporate social responsibility can be closely and

successfully tied with business strategy. 

Aviva Life Insurance India was selected from a number of high profile companies

competing for the honour of receiving the award.

Aviva India has won two major awards, at the ‘CMO Asia Awards’ held in

Singapore– ‘Excellence in Branding and Marketing’ in Banking and Financial

services, and Social Marketing. Aviva India was selected for the two prestigious awards

from among more than 200 nominations from across Asia.

Aviva has been felicitated with the "Bronze Award for Excellence in People

Management" by Grow Talent Company Limited and Businessworld. This honour was

given based on our ranking amonst the top 25 companies as per the Great Place to Work

survery in the last four years.

HISTORY

Aviva can trace its history back to the establishment of the Hand in Hand Fire & Life Insurance

Society in London in 1696.

Predecessor company London and Lancashire Fire and Life, pictured in Dublin, ca. 1871

It was created by a merger of two British insurance firms, Norwich Union and CGU plc (itself

created by the 1998 merger of Commercial Union and General Accident) as CGNU in 2000.

The Aviva name was adopted in July 2002. Thereafter, most of the group operations, except for

some strong local brands, were carried out under the uniform brand "Aviva".

During March 2005 Aviva acquired the RAC plc breakdown recovery operation for around

£1.1 billion.

In July 2006, Aviva greatly increased its presence in the United States by acquiring AmerUs

Group, a Des Moines-based financial services company founded in 1896 in a $2.9 billion (£1.6

billion) deal. AmerUs Group was rebranded as Aviva USA when the acquisition was completed.

The Company continued to use the Norwich Union name as a trading name in the UK until 1

June 2009 when it became formally known as Aviva within the United Kingdom. The launch

was supported by a £9 million advertising campaign to promote the rebranding (one of the most

expensive ever in the UK insurance field), with the participation of celebrities includingBruce

Willis and Alice Cooper.

In June 2009 the Company decided to dispose of Navigator, its Australian wealth management

business, to National Australia Bank for A$825 million (£401 million).

In October 2009 the company decided to focus on its commercial insurance sector and

demonstrate its commitment to brokers by launching their 'find a broker' facility, using the

British Insurance Brokers Association search engine. To help them with this endeavour, Paul

Whitehouse was recruited to play the part of a successful hairdresser running three salons. The

message of the campaign focused on business insurance through insurance brokers.[16] The

closing line of the campaign was "We're in business to keep you in business".

In September 2011, Aviva completed the sale of RAC plc breakdown recovery operation for

£1.0 billion to The Carlyle Group.

In February 2012, Aviva sold its occupational health business to the British support services

company Capita.

In July 2012, Aviva announced plans to sell or close 16 non-core businesses in order to simplify

its activities and boost shareholder returns. As part of the plans Aviva announced the sale of its

operations in South Korea and the closure to new business of its bulk-buying annuity unit in the

United Kingdom.

In August 2012, Aviva announced that up to 800 jobs would be lost following a reorganization

caused by further turmoil in theEurozone.

In December 2012, Aviva agreed to sell Aviva USA Corporation to Athene Holding for US$1.8

billion (£1.1 billion) as part of a plan to improve shareholder returns and reduce the group's

capital requirements. Athene subsequently sold the life insurance business of Aviva to Atlantic

Global.

OBJECTIVE

PRIMARY OBJECTIVES

To know about Promotional policies of Aviva Life Insurance.

SECONDARY OBJECTIVES

The main objectives of this project is to find, what steps Aviva Life Insurance is

adapting to be market leader and to differentiate itself from its competitors.

The basic objective of this project is as mentioned above to find ways so that

Aviva Life Insurance remain market leader by considering all the needs &wants

and fulfilling their demand.

To find out the Strategy of Aviva Life Insurance to remain market leader in

future.

It should do something to give after sales service and collect feedback from the

customers.

PRODUCTS OF AVIVA LIFE INSURANCE

1. Aviva Child Plans

a. Aviva Young Scholar Advantage

Overview

Aviva Young Scholar Advantage is a comprehensive plan that enables you to secure your child’s

future in any eventuality through:

All future premiums being waived off and invested as a lump sum amount in to the funds,

so the policy continues even in the unfortunate event of the parent’s death while the Life

Cover (Sum Assured) is paid out immediately. 

Provision of a regular income for the minor child, in the event of parent’s death if Aviva

Child Education (CE) Rider is opted for

An additional lumpsum being paid in the event of parent’s death if Aviva Term Plus Rider

is opted

Loyalty Additions to enhance your Fund Value

A choice of 9 fund options; Investment flexibility through Automatic Asset

Allocation (AAA) and Systematic Transfer Plan (STP)

The product will be offered only to those who have atleast one child

b. Aviva Young Scholar Secure

Overview

At Aviva we believe there is no greater insurance in the world than a good education. Education

is the bridge between your child’s dreams and reality. This journey has many milestones -

schooling years leading up to Board exams, entrance exams, college years and professional

courses. Each of the milestones has a cost attached to it right from extra coaching for Boards to

reference material for entrance exams to admission fee for a professional course.

Now guarantee funds for each of these milestones with Aviva Young Scholar Secure and

provide your child the best education. With Aviva Young Scholar Secure you can plan your

savings and payouts for your child’s education in a manner that match the child’s educational

journey.

c. Aviva Family Income Builder

Overview

At Aviva we recognize your efforts & hard work to provide your loved ones with a comfortable

life today and tomorrow. Presenting Aviva Family Income Builder, a plan that helps you in

ensuring a comfortable future income for your family by guaranteeing returns equal to double the

premiums you have paid. Not only is this guaranteed income paid on your survival, it is also

passed onto your family in case of your unfortunate death to take care of their future financial

requirements. This ensures that you continue to provide your family with the same lifestyle

thanks to a guaranteed future income.

2. Aviva Saving Plans

a. Aviva Wealth Builder

Overview

We all have aspirations and milestones that we hope to achieve in our life. Be it commitments

such as a child’s education/marriage, or dreams of purchasing a house, or retiring comfortably.

We plan for the time when these events are likely to happen, but don’t always plan for having

enough to fulfil them as per our dreams. At Aviva we recognise this and have specially designed

Aviva Wealth Builder plan to help you achieve these dreams to the fullest. This life insurance

plan guarantees double the amount of total premium that you pay, at maturity. That’s not all,

Aviva Wealth Builder also ensures that your family is well protected, in case you are not around.

So, go ahead and fulfil your dreams. Key attractions of the plan are:

•Doubles your money for defined milestones

•Guaranteed protection for your family in case of your death 

•Flexibility in choosing premium payment and policy terms

•Tax Benefits at the time of investment as well as maturity, for regular premium policies

b. Aviva Live Smart Plan

Overview

Aviva Live Smart PlanTM is a non-participating Unit Linked endowment plan designed to meet

your future financial needs by helping you invest as per your risk-taking capacity.  It also offers a

high life cover to protect your family in case of your sudden death. This life cover includes both

the Sum Assured & Fund Value, thus providing you complete peace & comfort.

•Flexibility to choose Investment term of 15/20/25 and 30 years

•Comprehensive protection in case of death – Higher of Sum Assured or 105 percent of all

premiums paid        plus the Fund Value to address immediate financial concerns of your

dependents

•Option to choose from 7 investment fund options

•Flexibility to use your money in case of emergency through partial withdraws and systematic

partial  withdrawals

•Pay top-up premiums to increase the savings element along with a nominal life cover 

c. Aviva Dhan Samruddhi

Overview

Aviva Dhan Samruddhi is a traditional life insurance plan that gives guaranteed cash back every

5 years in addition to guaranteed maturity benefit, to meet your short and long term needs.

•Guaranteed returns: Your policy earns a Guaranteed Addition of 7% per annum to 9% per

annum of the Annualized Premium (excluding taxes and any other extra premium), depending

upon the policy term chosen by you,till the end of the policy term which is payable at maturity.

•Liquidity: Your policy pays back 125% of the Annualized Premium (excluding taxes and any

other extra premium) as Survival Benefit every 5 years (except at maturity)

•Guaranteed Maturity Benefit: At maturity, you get the Sum Assured plus accrued Guaranteed

Additions minus Survival Benefits already paid. 

•Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is

Rs. 5 Lacs or higher. 

d. Aviva Dhan Vriddhi

Overview

Aviva Dhan Vriddhi is a traditional money back plan that provides you a guaranteed amount of

money at regular intervals along with protection through the Life Cover (Sum Assured), in the

event of death

Guaranteed returns: Guaranteed Additions @7% of Life Cover for each completed policy

year till maturity

Limited premium payment: Premiums are not required to be paid during the last five years

of the policy

Additional protection: You can opt from 2 riders to enhance protection 

Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is

Rs. 1 Lac or higher

d. Aviva Dhan Varsha

Overview

Aviva Dhan Varsha is a traditional investment cum protection plan that provides you Guaranteed

Addition of 6% to 9% of the sum assured along with life protection

Guaranteed Additions basis the policy term, longer the Policy Term, higher the rate of

Guaranteed Additions

Guaranteed Survival Benefit equal to sum of all accrued guaranteed addition at the end of

the Premium Payment Term

Guaranteed Maturity Benefit at the end of the Policy Term

No premium payment liability during the last five years for policy term of 10, 15 and 20

years

e. Aviva LifeBond Advantage

Overview

Aviva LifeBond Advantage is a Single Premium unit linked insurance plan that offers you an

opportunity to invest a lump sum for medium to long term together with Life Cover and

flexibility to access your money after 5 years, besides the regular tax benefits through:

7 unit linked funds as well as two options for life cover

Extra financial protection through the inbuilt Accidental Death Benefit

Systematic partial withdrawal for hassle free structured withdrawal

Opportunity for additional investment with a nominal life cover (top-up)

f. Aviva Freedom Life Advantage

Overview

Aviva Freedom Life Advantage allows you to choose the proportion of savings and protection

and change it subsequently, in line with your changing needs, with the option to pay premiums

for as few as 5 years, through:

Option to increase / decrease Life Cover (Sum Assured)

Option to cover husband and wife under the same policy

100% allocation from sixth year if Annual Premium is Rs. 1 lakh or more

Inbuilt Accidental Death cover

Loyalty additions every 3 years from the end of 10th policy year

Pay off all the premiums in 5 years or choose to pay throughout the term

Flexibility to choose Life cover

Enhance maturity proceeds and life cover with Top-up Premiums

7 fund options (Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure

and PSU), AAA & STP

3. Aviva Retirement Plans

a. Aviva Next Innings Pension Plan

Overview

Wouldn’t it be great if you could lead a comfortable lifestyle even after retirement? Realizing

this need, Aviva presents a plan that can guarantee a regular income stream for your post

retirement years. Aviva Next Innings Pension Plan- a pension plan that helps in building a lump

sum through a regular or onetime investment. This lump sum allows you to get an uninterrupted

income throughout your retirement years. 

Aviva Next Innings Pension Plan is a unique combination of a built in guarantee to build a lump

sum amount to secure regular income for your retirement years. So go ahead and plan for a great

next innings!

Key features of the plan are:

• Guaranteed corpus for retirement which will be 210% of the premiums you have paid, if you

continue this policy till maturity date by paying all due premiums.

• Protection for your family in case of death to ensure that your family receives a corpus basis

the amount of premiums you have paid along with an interest.

• Limited Premium Payment term to ensure that you enjoy your income without worries when

you are nearing retirement

b. Aviva Freedom Life Advantage

Overview

Aviva Freedom Life Advantage allows you to choose the proportion of savings and protection

and change it subsequently, in line with your changing needs, with the option to pay premiums

for as few as 5 years, through:

Option to increase / decrease Life Cover (Sum Assured)

Option to cover husband and wife under the same policy

100% allocation from sixth year if Annual Premium is Rs. 1 lakh or more

Inbuilt Accidental Death cover

Loyalty additions every 3 years from the end of 10th policy year

Pay off all the premiums in 5 years or choose to pay throughout the term

Flexibility to choose Life cover

Enhance maturity proceeds and life cover with Top-up Premiums

7 fund options (Bond-II, Protector-II, Balanced-II, Growth-II, Enhancer-II, Infrastructure

and PSU), AAA & STP

c. Aviva Annuity Plus

Overview

Aviva Annuity Plus is a non-participating, non-linked immediate annuity plan specially designed

to provide you with lifetime income during your post-retirement years.

Immediate annuities are designed to provide you with income immediately, by exchanging your

Pension Plan proceeds. In exchange for this lump sum premium, the insurance company pays

you a stream of income as long as you live. 

Key attractions of the plan are:

•Option to select from 5 annuity options to suit your specific financial needs

•Annuity amount payable is guaranteed for the life of the policy

•Flexibility to enhance the Purchase Price at inception for higher annuity installment

4. Aviva Protection Plans

a. Aviva LifeShield Plus

Overview

Aviva LifeShield plus provides comprehensive protection for your family at a nominal cost

through:

Payment of Life Cover (Sum Assured) to your family in the event of your death.

Most competitive rates

b. Aviva LifeShield Advantage

Overview

Aviva LifeShield Advantage provides comprehensive protection for your family incase you are

not around. Additionally, all the money paid as premium will be returned to you on survival at

the end of the Policy Term through:

Payment of Life Cover (Sum Assured) to your family in the event of your death (Option A)

Additional protection against Accidental Permanent Total Disability (Option B)

Return of the money paid towards the base premium on your survival at the end of the

policy term

A rebate on your premium for higher levels of Sum Assured

c. Aviva LifeShield Platinum

Overview

At Aviva we are constantly innovating because we believe that each one of us is different and so

is our expectation from our life insurance plan. Presenting Aviva Life Shield PlatinumTM, a

unique protection plan to help you plan for your family in case you are not around. 

Option A – Life Protection

Choose this option if you foresee a need for lump sum payment of large sum of money to your

family in case you are not around.We offer differential rates for Smokers, Non-smokers and

preferred rates for (Healthy) Non-smokers.

The special rates for non-smokers is subject to Cotinine test, which is available inselect cities.

Option B – Income Replacement

Choose this option if you want to provide a regular monthly income to your family in your

absence. This amount increases by 5% p.a. compounded annually from the very first year of your

policy to beat inflation. Your premium obligation is limited to about 2/3rd of the policy term.

Option C– Loan Protection. 

Choose this option to cover for higher financial liabilities and family responsibilities in the early

years of your life, the Life Cover decreases evenly across the policy term. Your premium

obligation is limited to about 2/3rd of the policy term.

This Insurance plan offers rebate on your premium for higher levels of Sum Assured.

d. Aviva i-Life

Overview

In today’s fast-paced life, rarely do we stop and take stock of the life cover we provide for our

families in case something unfortunate was to happen to us. To ensure your families are secure

and lead a comfortable life, in case you are not around, we bring to you Aviva i-Life - A pure life

insurance cover for your loved ones at a very nominal cost.

To offer you convenience at your fingertips, you can buy this term plan online to save the time

and effort that would have been otherwise required.

e. Aviva Health Secure

Overview

Due to our current lifestyle and stress levels, incidents of critical illnesses, especially at younger

ages have gone up. You would also be aware that the costs incurred in the treatment of such

illnesses are very high. Often, your savings are not enough to cover for these expenses which can

lead to a compromise in getting the best treatment.

Aviva Health Secure is an online health insurance plan that pays you a lump sum amount as

decided by you in case you are diagnosed with any of the 12 critical illness and procedures as

listed ahead like first Heart Attack, Stroke resulting in permanent symptoms etc.

f. Aviva i-Shield

Overview

You work hard to provide the best for your family and want to ensure that their happiness lasts

forever. An important next step is to ensure they are protected financially in the future as well.

Aviva presents to you our latest online term plan Aviva i-Shield. This is a term assurance plan

with return of premium that protects your family in case you are not around. Moreover this plan

pays back 110% of all the premiums you have paid at maturity if nothing were to happen to you.

So, not only does your family get the benefit of life cover in case of your unfortunate death, but

you get all premiums that you have paid back if you survive.

High protection cover at nominal cost

110% of the premiums paid back as survival benefits, guaranteed

Premium rebate on choosing Sum Assured of Rs. 20 Lacs and above.

Free Medical examination at inception of the policy

Convenience of quick and hassle free buying through internet

To offer you convenience at your fingertips, you can buy this term plan online to save the time

and effort that would have been otherwise required.

5. Aviva Health Plan

a. Aviva Health Secure

Overview

Due to our current lifestyle and stress levels, incidents of critical illnesses, especially at younger

ages have gone up. You would also be aware that the costs incurred in the treatment of such

illnesses are very high. Often, your savings are not enough to cover for these expenses which can

lead to a compromise in getting the best treatment.

Aviva Health Secure is an online health insurance plan that pays you a lump sum amount as

decided by you in case you are diagnosed with any of the 12 critical illness and procedures as

listed ahead like First Heart Attack, Stroke resulting in permanent symptoms etc.

6. Aviva Rural Plan

a. Aviva Amar Suraksha

Overview

Aviva Amar Suraksha is an ideal protection plan that helps you secure your family's future

through:

A guaranteed lump sum amount in the unfortunate event of your death

Minimal annual premium of Rs. 500.

b. Aviva Jana Suraksha

Overview

Aviva Jana Suraksha provides comprehensive financial protection for your children/dependants

through:

Low cost life insurance

Guaranteed lump sum amount in case of your death during the term of the policy.

c. Aviva Grameen Suraksha

Overview

Aviva Grameen Suraksha is an ideal low cost solution to help you protect your loved ones

through:

Payment of Sum Assured to your family in the event of your death

Premium payment for 2 years and benefits for full the policy term

RESEARCH METHODOLOGY

Meaning of research

Research in common parlance refers to a search for knowledge. Once can also define search as a

scientific and systematic search for pertinent information on a specific topic. Infect research is an

art of scientific investigation. The advanced learner’s dictionary of current English lay down the

meaning of research as “A careful investigation or inquiry specially through search for new facts

in any branch of knowledge.”

This inquisitiveness is the mother of all knowledge and the method which man employs for

obtaining the knowledge of whatever the unknown can be termed and research.

What is research methodology?

It is the science that tells the method of doing research.it mainly consist of following steps;

Developing research design.

Determining the data collection.

Developing sampling plan.

Conducting field work.

Research in comman parlance refers to a search for knowledge .One can also define research as

a scientific and systematic search for pertinent information on a specific topic.The word research

has been derived from French word research means to search.

Definition of research methodology:

Research may be defined as “a careful investigation or enquiry specially through

search for new facts in any branch of knowledge” in a technical sense research comprise

defining& redefining problems, formulated making deduction & researching conclusion & at

least carefully testing the conclusion to determine weather they fit the formulating hypothesis.

Research design:

Research design is the conceptual structure within which research is conducted. It

constitutes the blueprint for collection, measurement and analysis of data. The design used for

carrying out this research is descriptive.

Research design used in the survey:

Considering the objectives of the study and also the importance of the decision it

was decided to undertake an exploratory survey.

Data collection:

1. primary data-primary data are those which are fresh and collect for the first time and

thus happen to be original character.

2. Secondary data-It is the data that is already been collected by someone else.

In this survey I used both primary and secondary data. All information collected through

questionnaire.

Data sources:

The sources of collection of primary data are:

Questionnaire

The sources of collection of secondary data are:

Books

Websites

Magazine

Brochure

Analysis and interpretation:

Data collection through questionnaire and personnel interview resulted in

availability of the desired information but these were useless until there were analyzed.

Various steps required for this purpose were editing, coding and tabulating. Tabulating

refers to bringing together similar data and compiling them in an accurate and meaningful

manner. The data collected by questionnaire was analyzed, interpreted with the help of

table, bar chart and pie chart.

Sampling plan

It is very difficult to collect information from every members of population as time and cost are

the major limitation that the researcher faces a sample 50 was taken the sample size of 50

individual where selected on the basis of convenient sampling techniques. The individuals were

selected in the random manner form sample and data were collected from research study.

Need for sampling

Sampling can save time and money. a sample study usually less expensive than a sensus

study and produces result at a relatively faster speed.

Sampling remains the only way when population contain infinitely may members.

Sampling remains the only choice when a test involves the destruction of the items under

study.

PROMOTIONAL POLICIES OF AVIVA LIFE INSURANCE

Press Releases:-

viva Launches 'What's Your Big Plan'

Date: 12-Aug-2013

Aviva Life Insurance today announced the launch of a nationwide campaign, ‘What’s your Big

Plan’, to give an opportunity to young parents to fulfill their child’s aspirations

Aviva encourages children to dream big - Kicks off ‘Whats your Big Plan” campaign

20 winners to get Aviva scholarships and a chance to interact and play cricket with

Sachin

Tie-up with Croma and McDonalds stores in select cities

Campaign open for children in the age group of 3 years to 10 years

Mumbai/ New Delhi, August 12, 2013: Aviva Life Insurance today announced the launch of a

nationwide campaign, ‘What’s your Big Plan’, to give an opportunity to young parents to fulfill

their child’s aspirations. The month long campaign will give 20 children a chance to win

scholarships worth Rs 20,000 each from Aviva’s brand ambassador Sachin Tendulkar and play

cricket with him. To participate, students have to log on to www.avivaindia.com, share their big

plan in life and how their parents are supporting them to realise this dream. In addition to this

grand prize, 10,000 children will receive educational DVD’s from Aviva. 

To maximize the reach of the campaign, Aviva has partnered with select Croma stores in 7 cities

(New Delhi, Kolkata, Pune, Hyderabad, Bangalore, Mumbai and Chennai) and McDonalds

stores in 4 cities (Mumbai, New Delhi, Kolkata, Pune) where children can walk-in and drop their

entries. Besides entering the contest online and through Croma and McDonalds stores, students

from more than 200 schools in these 7 cities will get an opportunity to participate through an on-

ground activation programme. Final winners will be selected by an eminent jury from the field of

media and advertising.

Speaking about the campaign, Aviva’s Brand Ambassador, Sachin Tendulkar said “My big plan

in life was to play cricket and my father and family supported me in it. Aviva’s ‘What’s your big

plan’ is an exciting initiative that will encourage children to dream big, and help parents take a

step towards realising their child’s big plan in life.”

Mr. Rishi Piparaiya, Director-Marketing, Aviva Life Insurance said “We believe that each parent

has a very important role to play in encouraging their child to dream big. Taking this insight

forward and the brand promise of securing children’s future, we have launched ‘What’s your Big

Plan’ campaign, which will give parents an opportunity to protect and nurture their child’s

dreams in life. It will not only give children a platform to aspire for a brighter future, but also

help parents to be financially prepared in order to fulfill their plans.”

PROMOTIONAL TOOLS

Social Media Campaign Review: What’s Your Big Plan by Aviva Life Insurance

Aviva Life Insurance has initiated a nationwide campaign called “What’s Your Big Plan” in

association with The Times of India as the presenting partner and Croma as the activity partner.

The duration of this campaign is one month starting from the 12th of August 2013.

Objective:

To give young parents the opportunity to fulfil their child’s aspirations and promote their life

insurance policies through brand management.

Execution:

Aviva India wanted to reach out to young parents and provide them an opportunity to secure

their child’s future through this campaign. They are giving 20 children a chance to win

scholarships worth Rs. 20,000 each. Sachin Tendulkar, the brand ambassador has been used to

promote the campaign. The winning kids will also get a chance to play cricket with him.

The campaign is being run on their microsite. Children between the age 3 and 12 can participate

in this contest along with the assistance of their parents.The contest as the name suggests is about

the child’s “Big Plan”. Participants have to tell Aviva what they want to be when they grow up,

why it is their big plan and who their role model is. Parents also have to write why they support

their child’s “Big Plan”. Both the child and parent details are required for submission of the

entry.

Aviva has also merged with Croma and McDonalds for this campaign. Participants can also drop

in their entries at select outlets of their stores in different cities mentioned on the microsite.

Students from more than 200 schools will also get an opportunity to participate through an on-

ground activation programme. Final winners will be selected by an eminent jury from the field of

media and advertising.

The contest is promoted on their facebook and twitter pages redirecting to the microsite to

participate.

A video shot with Sachin Tendulkar is being promoted on their pages for the activation of the

campaign. On sharing the video on facebook, Aviva India will donate Rs. 1 per share towards the

education of underprivileged children.

Positives:

The campaign connects well with the emotional aspect of consumers and using it for building

brand identity amongst new consumers. Parents and children being the target audience, a child’s

future is the most important aspect.

Associating it with Sachin Tendulkar and offering a chance to play cricket with him gives an

overwhelming response!

The promotions on facebook and twitter are very interesting and dynamic. They have used

parenting tips and advices along with images of their brand ambassador in a good, non-repetitive

way. The likes, shares and comments on these posts are considerable.

The campaign is being run both online and offline with integration   of local stores, making it

easier for consumers all across to participate.

They have maintained traction to their website through this contest. An interested consumer gets

an opportunity to view their products too.

They have created a buzz on Twitter with interesting Quiz Contests

like #Aviva #WhatsYourBigPlan

Scope of Improvement:

Aviva has launched their campaign as “What’s Your Big Plan” but their URL to the microsite

does not include the campaign name, “KidsKonnect” is being used instead, a segment with

which the campaign has been infused with. This could affect their seo and confusion while

sharing the contest link.

Conclusion:

Aviva has used the basic concept of a child’s future for their campaign and it connects well to the

audience. The prize is not limited to one participant but to 20 participants, with a considerable

prize amount, broadening the campaigns reach.

DATA ANALAYSIS AND INTERPRETATION

Q1. Are you aware about Aviva Life Insurance?

YES NO

85% 15%

85%

15%

YESNO

According to survey we find that 85% of customers are aware about Aviva Life Insurance

while 15% are not.

Q2. Have you owned any policy of Aviva Life Insurance?

YES NO

40% 60%

40%

60%

YESNO

According to survey we find that 40% of customers are owned a policy of Aviva Life

Insurance while 60% are not.

Q3. Which type of policy do you owned?

CHILD PLANS 28%

SAVING PLANS 35%

RURAL PLANS 5%

RETIREMENT PLANS 15%

HEALTH PLANS 17%

28%

35%5%

15%

17%

CHILD PLANS SAVING PLANSRURAL PLANSRETIREMENT PLANSHEALTH PLANS

According to survey we find that 28% of customers are owned a Child plan of Aviva Life

Insurance, 35% customers have Saving plans, 5% customers have Rural plans, 15%

customers owned Retirement plans while 17% customers are owned Health plans.

Q4. Are you satisfy with the returns and Settlements of policy after maturity?

YES NO

65% 35%

65%

35%

YESNO

According to survey we find that 65% of customers are satisfy with Aviva Life Insurance

while 35% are not.

Q5. Rate the product about your satisfaction?

GOOD 52%

VERY GOOD 20%

EXCELLENT 18%

POOR 10%

GOOD VERY GOOD EXCELLENT POOR0%

10%

20%

30%

40%

50%

60%

52%

20% 18%

10%

Series1

According to survey we find that 52% of customers are likely to says that its Good, 20%

customers says its Very Good, 18% customers says its excellent while 10% says its Poor.

Q6. By which source you come to know about Aviva Life Insurance?

T.V 58%

NEWSPAPER 15%

HOARDINGS 10%

MOUTH OF TONGUE 17%

T.VNEWSPAPER

HOARDINGSMOUTH OF

TONGUE

0%

10%

20%

30%

40%

50%

60%58%

15%

10% 17%

Series1

According to survey we find that 58% of customers are come to know by T.V, 20%

customers says by Newspaper, 10% customers says by Hoardings while 17% says by

Mouth of tongue.

SWOT ANALYSIS

SWOT ANALYSIS

Strength 1. Robust and Diverse Product portfolio

2. Has network across 3000 towns and 20,000 Financial Planning

Advisors

3.Focus on Schemes with social importance

4.Good brand visibility through advertisement campaigns

5.Globally, Aviva has over 46,000 employees

6. It is the sixth-largest insurance company in the world measured

by net premium income and has 53 million customers in 28

countries

Weakness 1. Controversial advertisement campaign caused a problem 

2. Customer complaints for policy execution problems

Opportunity 1. Growing rural market

2.Earning Urban Youth

3. Increasing awareness amongst people about securing their

future

Threats 1. Economic crisis

2.  Entry of new NBFCs in the sector

Competition

Competitors 1.  Bajaj Allianz

2.  Sahara Life Insurance

3.  HDFC Standard Life

RECOMMENDATIONS AND SUGGESTIONS

Aviva Life Insurance should introduce variants with good return outputs at the same

level as other Competitors.

Bajaj Allianz, Sahara and HDFC standard Life should start penetrating well in the

areas such as infocity.

Advertising should be done at High level so that customers can attract towards our

policy.

Aviva Life Insurance should work on Brand building as image is the important

deciding factor for switching brand loyalty.

Aviva Life Insurance should work on volume promotion and introduce more variants

to capture more market share

LIMITATIONS OF STUDY

The time given was not sufficient as only one person had to conduct the survey.

The exact thinking of the respondents cannot be found out.

Surrogate error could be one of the limitations.

Findings are made with in the limited Information & views of the respondents. So a

chance of bias information is not totally eliminated.

CONCLUSION

As the project is to Analysis of Promotional Policies of Aviva Life Insurance and the main

objective to understand the Policies adopted by the company to promote our product. After

completing the project I know that how ability of management can perform work in difficult

situation. Because during the recession they faced very bad condition but as India condition will

improve they will also improve. As company is trying to reduce its expenses for earning good

profit.

Though we had a very nice experience but we had to face some problems even,

like we were not given any identity card by the company so sometime it became very difficult

for us to convince people that we are from the company and not an agent. Mostly small investors

are not satisfied with the charges of the AVIVA ULIP.

1. People don‘t rely upon private insurance sector.

2. All products are not attractive to the customers so that kind of products are very hard to

sale.

3. Less number of traditional plans that’s why people who really need traditional plans are

still not satisfied.

4. Majority of the customers are satisfied with the beneficial schemes the company.

5. Majority of the customers are satisfied with the service of the company.

BIBLIOGRAPHY

Books:

PHILIP KOTLER, MARKETING MANAGEMENT, EDITION 2005.

V.S RAMASWAMY AND S. NAMAKUMARI MARKETING MANAGEMENT,

SECOND EDITION.

Magazines

Business India

India Today

Business Today

Newspapers

The Times of India

The Hindustan Times

The Economic Times

SWAMI VIVEKANANDA INSTITUTE OF TECHNOLOGY

SAGAR M.P

QUESTIONNAIRE

Name:- Age:-

Occupation:- Contact No:-

Q1. Are you aware about Aviva Life Insurance?

a. Yes b. No

Q2. Have you owned any policy of Aviva Life Insurance?

a. Yes b. No

Q3. Which type of policy do you owned?

a. Child plan b. Health plan c. Saving Plan d. Retirement plan

e. Rural Plan

Q4. Are you satisfied with the returns and Settlements of policy after maturity?

a. Yes b. No

Q5. Rate the product about your satisfaction?

a. Good b. Very Good c. Excellent d. Poor

Q6. By which source you come to know about Aviva Life Insurance?

a. T.V b. Newspaper c. Hoardings d. Mouth of Tongue