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A PROJECT REPORT
ON
MARKETING STRATEGY
OF
TATA AIG INSURANCECOMPANY
SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE
AWARD OF THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION
(BBA)
TO
GURU GOVIND SINGH INDRAPRASTHAUNIVERSITY(SESSION 2008-2011)
SUBMITTED TO SUBMITTED BYMiss. SAVITA IMRAN KHANDesignation: Lecturer Enro!ent No.091205170
BLS INSTITUTE OF TECHNOLOGYMANAGEMENT
D!"#$%R' R&*+ NH%10 +,#&* +B#*-./.#
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(H.)
STUDENT UNDERTAKING:
THE PROJECT IS SUBMITTED TO MISS.SAVITA STUDIES AS MAJOR
PROJECT FOR BACHELOR OF BUSINESS ADMINISTRATION (B. B. A)
2008-2011
PROJECT GUIDE
B Y
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ACKNOWLEDGEMENT
I'!.*!!*!3!
Interdependence is something, which is very essentia in today!s word "or
competition o" any tas#$ %his is aso &eing competed &y the 'oint e""ort o" so many
peope, so I wish to pay my gratitde to a those peope who have directy or
indirecty contri&ted towards the competion o" this pro'ect$ irst o" a, I owe my
gratitde to a might *O+ and my parents &ecase o" whom I am a&e to compete
this pro'ect sccess"y$ I am deepy inde&ted and grate" to iss$ Savita (siness
.ssociate) who granted the permission to do this pro'ect, this pro'ect has sccess"y
ta#en pace$
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TABLE OF CONTENTS
Sr. No. Topic
1 INTRODUCTION TO INSURANCEAND TATA AIG
2- COMPANY PROFILE AND S!OT
ANALYSIS OF THE COMPANY
" OBJECTIVE OF STUDY
# RESEARCH METHODOLOGY
$ DATA ANALYSIS ANDINTERPRETATION
% FINDING AND ANALYSIS
& RECOMMENDATIONS ANDSUGGESTION:CONCLUSION
' LIMITATION
( )UESTIONNAIRE
1* BIBLOGRAPHY
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INSURANCE
INTRODUCTION
%he &siness o" insrance is reated to the protection o" the economic vae o" assets$
Every asset has a vae$
%he asset gets ost earier, &eing destroyed or made non-"nctiona, throgh an
accident or other n"ortnate event, the owner and those deriving &ene"its there "rom
s""er$ Insrance is a mechanism the heps to redce sch adverse conse/ences$
PURPOSE 4 NEED OF INSURANCE
.ssets are insred, &ecase they are i#ey to &e destroyed or made non-
"nctiona, throgh an accidenta occrrence$ Sch possi&e occrrences are
caed peris$ ire, "oods, &rea#downs, ightning, earth/a#es, etc, are peris$
is# . possi&iity o" oss or damage$ It may or may not happen$ %here has to &e
an ncertainty a&ot the ris#$ Insrance is done against the contingency that itmay happen$
Insrance eope3.ssets mst &e e4posed to the same ris#s
Insrance is# is spread among the commnity and the i#ey &ig impact on one
is redced to smaer managea&e impacts on a$
Insrance companies coect money in advance and create a "nd "rom which the
osses are paid$
. hman i"e is aso an income generating asset$ %his asset aso can &e ost
throgh ne4pectedy eary death 5 .ccidents may or may not happen$
6iving too ong can &e as mch as pro&em as dying too yong$ %hese are ris#s
which need to &e sa"egarded against$
Insrance covers economic or "inancia oses 5 tangi&e and intangi&e assets$
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HOW INSURANCE WORKS
eope "acing common ris#s come together and ma#e their sma contri&tions to a
common "nd$ %he contri&tion to &e made &y each person is determined on the
assmption that whie it may not &e possi&e to te &e"orehand, which person wi
s""er, it is possi&e to te, on the &asis o" past e4periences, how many persons, on an
average, may s""er osses$
Insrance is a&ot
Sharing the same ris#
aying ot compensation (caims)
Insrer ensres no &ody ta#es nde advantage$
BUSINESS OF INSURANCE
%he &siness o" insrance done &y insrance companies, caed insrers, is to
&ring together persons with common insrance interests coecting the share or
contri&tion "rom a o" them and paying ot compensations to those who s""er$
%he &siness o" insrance is nothing &t one o" sharing$ It spreads osses o" an
individa over the grop o" individas who "ace common ris#$
It ensres that no&ody ta#es nde advantage o" the arrangement$
FUNDAMENTAL PRICIPLES
L$! I6-.3! C&'.3'6
. contract may &e de"ined as an agreement &etween two or more parties to do or
to a&stain "rom doing an act, with an intention to create a egay &inding
reationship$ . simpe contract to &e en"orcea&e mst have "oowing
essentias -
- O""er and acceptance
- 7onsideration
- 7apacity to contract
- 7onsenss ad idem!
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- egaity o" o&'ect
C&!.3$" 3&'.3'6
7ommercia contracts are normay s&'ect to the principe o" caveat emptor i$e$
et the &yer &eware$ In most o" these contracts each party to the contract can
e4amine the item or service$ 9hich is the s&'ect matter o" contract$
I6-.3! 3&'.3'6
.s "or insrance contracts, the prodct sod is intangi&e$ It cannot &e seen or
"et$ oreover, most o" the "acts reating to heath, ha&its, persona history,
"amiy history are #nown to one party ony, the proposer$
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PRINCIPLE OF UTMOST GOOD FAITH (U8!..$! F$*!6)
roposer mst discose every materia #nown to him$ %his type o" contract is
caed :&errimae ides i$e$ contract o" tmost good "aith$
acts that wod in"ence the 'dgement o" a prdent insrer in "i4ing the
premim or determining whether he wi ta#e the ris#$ %here"ore, "acts regarding
age, height, weight, &id, previos medica history, smo#ing 3 drin#ing ha&its,
operations, non-discosre o" earier insrances, ha;ardos! occpation mst &e
discosed$
%here are certain circmstances, a "acts which need not &e discosed$ or e4ampe
(1) acts which every one is spposed to #now$
(2) acts o" common #nowedge$
(
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INSURABLE INTEREST
. ris#s are not insra&e$ In order to &e insra&e, the ris# mst &e capa&e to
"inancia measrement, there mst &e s""icient nm&er o" simiar ris#s, the ris# mst
&e capa&e o" statistica (actaria) estimation$ It mst not &e against p&ic poicy,
and there mst &e insra&e interest in the property to &e insred3ris# to &e covered$
%he Insrance .ct, 1>
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I6'3!6 & I6-.8"! I'!.!6'
7ommon peope having insra&e interest
- Sposes have insra&e interest in each other$
- artners can insre each other!s ives$
- 7reditors have insra&e interest in de&tors
- Empoyers have insra&e interest in the i"e o" empoyees$
%he ega position a&ot chidren!s assrances is not /ite cear$ It is presmed
that parents have insra&e interest in the i"e o" a chid as a chid i$e$ so ong as he
is a chid$ %here"ore most o" the 6I7!s chidren!s poicies incorporate a vesting
case, where&y the poicy vests in the chid on attainment o" ma'ority$
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CAREER OPPORTUNITY
DISCOER A WORLD OF GREAT OPPORTUNITY WITH THE LEADING
SERICE INDUSTRY
THE INSURANCE SECTOR
N.%ION.6ISE+ IN 1>?@
6I7 9.S %AE ON6B 6.BE %I66 2000
*OCENEN% A.S +E-E*:6.%E+ %AE IN+:S%B
%AE .S%ES% *O9IN* :SINESS IN India %O+.B
6IE INS:.NE ENE%.%ION IN India IS 1$=D
E 7.I%. SEN+ IN India 5 s$ 2
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LIFE INSURANCE : THE
FASTEST GROWING INDUSTRY
. s$
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OB,ECTIES
THE MAIN OB,ECTIES OF THE STUDY ARE AS FOLLOWS :
%o present an overview o" %ata .I* Insrance company with its mar#eting
strategies$
%o stdy the history o" %ata .I*$
%o assess the natre o" oint Centre, Investment attern, Entry Strategies and
prodct o" rdentia %ata .I* Insrance 7ompany$
%o coect +ata throgh mar#et srvey$
%o anay;e the comparative mar#eting strategies o" %ata .I* with other
7ompanies$
%o change the pro"ie o" Insrance .gents$
%o anay;e a data coected sing "actor anaysis$
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COMPANY PROFILE
SER% A PROFILE
.s the name sggests CSEC is here to serve its peope, promote ease to its cient F
insre the &est o" its service to a$
Esta&ished in arch >> &y r$ Aerpreet Singh$ CSEC was initiay "ormed
distri&ting mta "nds F &onds$ %he company sowy &roadened its hori;on F in
the year 2001 when insrance "e into the hands o" vt$ sector CSEC entered into
i"e F genera Insrance with %.%. .I*$ y .pri 2001 there were two companies
"onded nder the &anner o" CSEC namey, CSEC 7.I%.6 SECI7ES C%
6%+$F CSEC INS:.N7E SECI7E C% 6%+, &oth catering to the insrance
needs o" its cstomers$
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SER CAPITAL SERICES PT LTD;
Incorporated nder companies act 1>?@, SER CAPITAL SERICES PT LTDis the sister concern o" CSEC that deas in investment , stoc# &roo#ing ,
management consting F recriting F training activities as &siness associates "or
%.%. .I*$
%he company nder the administration o" its &oard o" directors comprising o" M.;
H..!!' S$/# + H..!!' K-. 4 $. S$/# !!. operate throgh a team o"
peope o" which
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T'%AIG L$! I6-.3!
PROFILE
T'%AIG L$! I6-.3! 3& is a 'oint ventre &etween the T' G.&- *
A!.$3 I'!.'$&" G.&- Inc (.I*), the eading :S-&ased internationa
insrance and "inancia services organisation and the argest nderwriter o"
commercia and indstria insrance in .merica$
Its mem&er companies write a wide range o" commercia, persona and i"e insrance
prodcts throgh a variety o" distri&tion channes in appro4imatey 1
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INTRODUCTION
TATA GROUP
%he %ata *rop is the most respected indstria &siness hose serving India "or 121> and it has sccess" 8= years o"
history$
.I* go&a &siness aso incdes "inancia services and asset management,
"inancia prodcts, consmer "inance etc$
AIG IS AMONGST THE FEW =AAA> RATED COMPANIES IN THE
WORLD
Saes orce o" 11?,000 9ord 9ide$
evene H @2$= &iion (s$ 00 crores)
7tting Edge %raining
Otstanding ating
= in or&es ?00
12 in "ortnes ?00
?E@!. 3!' & P.!$-
- C;; S'..+ &-*!. & AIG;
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TATA AIG
INTRODUCTION
%ata .I* is a 'oint ventre that is &ac#ed &y the %ata *rop, one o" the India!s most
respected Indstria 7ongomerates, with revene o" over s$ =0,000 crores, and
.merican Internationa *rop, Inc$ (.I*), the eading :S &ased internationa
insrance F inancia Services Organi;ation$
%AE %.%. *O: =D
.I* 2@D
%ata .I* o""ers a gamt o" innovative prodcts in the 6i"e Insrance Sector$ %ata
.I* is one o" the "ew partnership in the Indian Insrance Indstry that &rings yo
arrange o" Insrance rodcts "rom atomo&ie to i"e Insrance, "rom trave to
persona accident coverage, and more$
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TATA AIG LIFE
. 'oint ventre &ringing to hosehod names together, anched in .pri 2001 in
m&ai, +ehi, Jo#ata, 7hennai, angore, Aydera&ad and e4pending rapidy$
I '#! P.$@'! I6-.3! M.!' T' AIG "$! $6 :
astest growing new i"e insrance co$ in India$
resence in 1= cities and e4panding constanty$
%he eading 9hoe o" 6i"e provider with ?0D o" a poicyhoders choosing
ahai"e
Nm&er One in roviding %erm assrance
Or &iggest seer is the oney ac# an with 2>D mar#et share
6ast year or anna &ons was amongst the argest paid in the indstry K ?D
componded$
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AREA OF BUSINESS
%ata .I* i#e Insrance prodcts incde a &road array o" 6i"e Insrance coverage to
&oth individa and grops$
or grops, the company has i"e prodcts whereas "or individa, it has term
prodcts, endowment prodcts as we as money &ac# prodcts$ or grops and
individas, varios types o" options are avaia&e to give consmers "e4i&iity and
choices$
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TATA AIG ISION
P.&$'8"
D!"$@!. 3&6$6'!'" !3!""!'
S!.@$3! * *!@!"& &-.
P!&"! $ 3&6''"
C#/$/ !@$.&!';
idest range o" prodcts to cater to needs o" a segments
. ni/e career progression strctre "or advisors$
N&' &!. 8 "" &'#!. 3&$!6 $ I*$;
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HISTORY
TATA HISTORY % FAMILY TREE
,AMSET,I TATA
onder o" India!s argest and
internationay &est non grop o" companies$
egan with a te4tie mi in centra
India in the 180s$
SIR DORAB,I TATA SIR RATAN TATA
Sir +ora&'i %ata
%rst (1>0= 5 1>>
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TATA HISTORY : 1 190
Operations e4pand to incde E4pansion into 7ommercia
Aotes, etas and the "irst o" rinting$ .irines, 7ommercia
< eectric companies$ In 1>0, vehices as we as %ata Indstries
%ata e4pands go&ay with the which was created "or the
ormation to %ata 6imited, promotion and deveopment o"
6ondon$ Ai-tech indstries$
1>00 5 1>10 1>?0
1>@8 5 1>00 1>10 5 1>20 1>?0 - 1>@0
N %ata starts a %he %atas enter the %ata is as#ed to
private trading "irm consmer goods with the man"actres
aying the %ata oi mis 7ompanies in
"ondation "or the 7ompany ma#ing soaps, India$ India!s
%ata empire$ irst detergents and coo#ing a'or
operation incde ois$ an"actring
te4ties, spinning and engineering
and weaving organi;ation,
companies Cotas, is
in 188, %ata and Sons esta&ished$
is esta&ished
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TATA HISTORY : 1990 199
Seven ma'or %ata New %ata *rop
*rop companies corporate ogo and
"ormaity adopt the mar# are anched$
%ata *rop code o"
condct$
1>>8 1>>8
1>>1 1>>8 1>>8
."ter ?0 years at %he "irst %ata eectric
%he hem, + %ata indigenosy companies
steps +own as designed, ac/ire power
7hairman o" deveoped and "aciities "rom
%ata sons$ Ae is man"actre .77$
repaced &y the car is introdced
present chairman, &y %ata Indica$
atan N$ %ata$
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TATA HISTORY : 199 PRESENT
%ata %ea ac/ires %ata Stee &ecomes
the %etey grop, :J$ %he "irst %ata *rop 7o$
this is the "irst ma'or to win the + LC award
ac/isition o" an %ata$
internationa &rand &y
an Indian *rop$
2000 2000
2000 2000 2001
%he .ditya ira Signi"icant changes %ata annonces
*rop, .%F% annonced in the a partnership
and %ata %ata Sons &oard with .I* to o""er
indstries to improve corporate insrance and
sign an O: governance$ "inancia
to merge their services prodcts
cear properties in India
into a 'oint ventre
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199 :.I* enters the ntapped mar#ets o" ssia and :;&e#istan$
1((% : %he .sian In"rastrctre nd raises H 1$1 &iion$
199 :eopening o" the nd iding$
1((( : .c/isition o" Sn .merica Inc$
2001 :.I* .c/ires .merican *enera .I*!s net income rises to a record high o"
H $@@ n$ 7onsoidated assets appro4imate H =>2$
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SWOT ANALYSIS
STRENGTHS:
1$ No$ 1 rivate ayer in the insrance indstry in India$
2$ 6i"e Insrance in#ed with Investments
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THREATS:
1$ +ynamic environment
2$ Increasing 7ompetition
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METHODOLOGY
+ata can &e cassi"ied nder the two main categories, depending pon the sorces
sed "or the coection prposes, i$e$, rimary data! and Secondary data!$ %he
vaidity and accracy o" "ina 'dgement is most crcia and depends heaviy pon
how we the data is gathered in the "irst pace$ %he methodoogy adopted "or data
gathering aso a""ects the concsions drawn there "rom$
Primary data:rimary data are those data, which are coected &y the investigator
himse" "or the prpose o" a speci"ic en/iry or stdy$ Sch data are origina in
character and are generated &y srveys condcted &y individas or research
instittions$ %hs we can say that the data that is &eing coected "or the "irst time is
caed primary data$ethods that can &e sed "or coection o" primary data are as "oows
D$.!3' !.6&" &86!.@'$&: :nder this method, the
investigator presents himse" personay &e"ore the in"ormant
and o&tains "irst hand in"ormation$ %his method provides
greater degree o" accracy$
T!"!#&! 6-.@!: :nder this method the investigator,
instead o" presenting himse" &e"ore the in"ormants, contactsthem on teephone and coects in"ormation "rom them$
I*$.!3' !.6&" $'!.@$!
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INSURANCE ADISOR
IRDA TRAINING
%he Insrance .ct, 1>
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COMPETITION DISTRIBUTION STRATEGIES
TATA AIG AGENCY
M!"!#$"# D$%&'%
D$%&'% - A#&"'* D$%&'% +!,&%"!& '!""&,
A. D$%&'% + A#&"'*(T%&& /"&)
/"& H&!
A#&"'*M!"!#&%
M!"!#&&"B$"& A'$!&
S&"$% B$"&A'$!&
B$"& A'$!&
I"%!"'& A3$%
R,cr-i /0 2/0/3, 4/5,4 ,/24
F--r, o 3ro6 E/r0 7 BIG 88888
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CAREER GROWTH CHART
MANAGEMENT BUSINESS (=D o" S.)
ASSOCIATES
SENIOR BUSINESS (8D o" .)
ASSOCIATES
(7.N!% *O BUSINESS ASSOCIATES (2?D o" %ota .dvisors
EBON+ %AIS)
AGENTS (:pto
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7omparison &etween %ata .I* and other Insrance 7ompany
"OM#ARISION O$ %RO&TH O$A%ENTS O$ DI$$ERENT INSURAN"E
"OM#ANIES
'
('
)'*'
+'
,''
' (' )' *'
Tata AI%
Insurance "o.Ot-ers
Insurance "o.
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MARKETING STRATEGIES OF
TATA AIG INSURANCE
TATA AIG HEALTH FIRST
4!,$* &!,'!%& $ &56&"$3&7 * "&& ! 6,$'* ! '3&% !,,
'"$"#&"'$&. H&!,F$% 6%3$& * $ &'%$* 9*
#!%!"&&$"# ! ,6 $%%&6&'$3& : *% &$'!, 9$,,. Y '!"
6%'!& $ 6,$'* $,& *% &5$$"# &$'!, $"%!"'& 6,$'* $
$,, $" :%'& !" %&"& $ "$, !#& ;< $ !$$"!, &$'!,
&5!$"!$".
K,9 ,/-r,4 i0c5-,:
THE BENEFITS SHO!N BELO! ARE FOR A POLICY
PURCHASED FOR 1* UNITS
D!$,* H6$!,$=!$" B&"&:$ (DHB) D%$"# 6$!,$=!$"> &
$,, 6!* !" !,,!"'& : R. 2>?00 6&% !*.
S%#$'!, B&"&:$ A ,6 : R. 1>2?>000 $ 6!$ :%
6&'$:$& %#$'!, 6%'&%&. @& 6!* & '6,&& !">
&3&" $: & 6%'&%& ' ,&. T$ 9&"&:$ $ 6!*!9,& ",*
$: DHB $ 6!*!9,&.
P-6$!,$=!$" B&"&:$ A:&% 6$!,$=!$"> & $,, 6!*
R. 1>2?0 ! !* :% :,,-6 %&!&" (6 ! !5$ :
!*). T$ 9&"&:$ $ 6!*!9,& ",* $: DHB $ 6!*!9,&.
C%$$'!, I,,"& C3&% Y #& R. 12.?0 ,! $" & '!& :
:$% $!#"& : 6&'$:$& : & 12 '%$$'!, $,,"&&.
D&! B&"&:$ I" & ":%"!& &3&" : *% &!>
'3&%!#& : R. 10>000 $ 6%3$& 6%&' *% :!$,*.T$
9&"&:$ $ 6!*!9,& $: " &% 9&"&:$ ! 9&&" ',!$& :%.
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P,$'* '!" 9& 6%'!& :% 1 10 "$.
TA; BENEFITS AND AGE ELIGIBILITY
P%&$ 6!$ :% H&!, I"%!"'& B&"&:$ !%& &,$#$9,& :%
!5 9&"&:$ "&% &'$" 80D> $,& 6%&$ :% L$:&
I"%!"'& B&"&:$ !%& &,$#$9,& :% !5 9&"&:$ "&% &'$"
80C : & I"'& T!5 A'> 1;1.
P,$'* !3!$,!9,& :% 6&%" 9&&&" 18 !" ;0 *&!% : !#&.
T%&!&" ''% ! ! 6%&-!66%3& 6$!,.
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MAHALIFE GOLD
T$ "$& 6,$'* $ !" $&!, 6,!""$"# 3&$',& :" *%
%&$%&&". I 6%3$& ! &!* $"'& !" $"%!"'& '3&%!#&
:% ,$:&. P%&$ !%& 6!*!9,& ",* :% & :$% 1? *&!%> !" '!"
9& & '3&% & :%& &56&"& : *% '$,%&".
K,9 ,/-r,4 i0c5-,:
A #!%!"&& !""!, '6" : ? : & !%&
&3&%* *&!% :% & %& : & $"%&G &% :% & 10
6,$'* !""$3&%!%*.
Y&!%,* '! $3$&" !%& !3!$,!9,& :% & ; 6,$'*
!""$3&%!%* "!% (&6&"$"# " C6!"*
6&%:%!"'&).
T& &"$%& !%& $ 6!$ !5-:%&& ! 6&% '%%&"
I"'& T!5 L!.
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INVESTASSURE GOLD
I"3&A%& , $ ! ""-6!%$'$6!$"# @,& L$:& U"$ L$"&
$"%!"'& 6,!"> $' ::&% * & "$& !3!"!#& :
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*% %$ 6%:$,& - @,& L$:& M$ C!6 E$*> @,& L$:&
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A##%&$3& %> @,& L$:& S!9,& %> @,&
L$:& I"'&> !" @,& L$:& S% T&% F$5& I"'&.
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6,$'* $ $" :%'&.
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INVESTASSURE PLUS
I"3&A%& P, $ ! $"#,& 6%&$ U"$ L$"& $"%!"'& 6,!"
&6&'$!,,* &$#"& :% & $"3&&"-!33*. I #$3& * &
:,&5$9$,$* : '$"# *% " $"3&&" %!*> 9&$&
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:% $#&% #%.
&* :&!%& $"',&
P,$'* &% : 1?> 20> 2? % 0 *&!%.
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N 6&"!,* '!%#& :% %%&"&%$"# & 6,$'* !"* $&
!:&% & % *&!%.
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10(10D) : & I"'& T!5 A'> 1;1.
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T,r2 o Po5ic9 Mi0i2-2 A3,
M/?i2-2 A3,
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LIFE PLUS
I: * ,$3& & 20-*&!% &% : ! L$:&P, 6,$'*> !,, : *%
6%&$ 6!*&" $,, 9& %&:"&7 $: * $& 9* "!%!, '!&
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!%&7 , * $& & !''$&"!, '!&> *%
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&3&" * ,$3& & 6,$'*G 20-*&!% &%.
P%&$ !%& 6!*!9,& ",* :% & :$% 1? *&!% : & 20-
*&!% &%.
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ASSURE +1 YEARS MONEY SAVER
T$ !3$"# 6,!" #$3& * & '! 6!*&" ! 6&'$:$&
$"&%3!, :" *% :!$,*G "&& ! '%$$'!, $,&"& %
66% *% :$"!"'$!, 9,$#!$". Y #& & !, 9&"&:$ :
,$:& $"%!"'& '3&%!#& 6, & :,&5$9$,$* : 6&%$$' 6!*&".
K,9 ,/-r,4 i0c5-,:
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K12 K1? !" 18 6,$'* !""$3&%!%$&.
$%%&6&'$3& : '! 6!*&" !,%&!* !&> $" &
":%"!& &3&" : *% &! 9&:%& & &" : &
6,$'*G &%.
A 10 !%!"&& A$$" $ 6!*!9,& " &! %
!%$*> $: & 6,$'* ! 9&&" $":%'& :% 10 *&!%.
A %&3&%$"!%* !" &%$"!, 9" 6!*!9,& " &! %
!%$*. T&%$"!, 9" $ !3!$,!9,& ",* $: 6,$'* $ $"
:%'& :% %& !" 10 *&!%.
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B"& !%& 6!$ &6&"$"# " 6&%:%!"'& : &
'6!"*.
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MAHALIFE
T$ $$"'$3& 6,$'* 6%3$& ! &!* $"'& !" $"%!"'&
'3&%!#& :% ,$:&. P%&$ !%& 6!*!9,& ",* :% & :$% 12
*&!%. Y '!" &3&" & $ '3&% :%& &56&"& : *%
'$,%&".
K,9 ,/-r,4 i0c5-,:
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&3&%* *&!% :% & %& : & $"%&G ,$:& :% & 12
6,$'* !""$3&%!%* "!%.
I: T!! AI L$:& 6&%:% &,,> * #& *&!%,* '!
$3$&" :% & ; 6,$'* !""$3&%!%* "!%.
O" &! % ! !%$* ! !#& 100> & &"$%&
!%& $,, 9& 6!$ !5-:%&& !''%$"# '%%&"
I"'& T!5 L!.
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SHUBHLIFE
H!3& * 9&&" &,!*$"# #&$"# ,$:& $"%!"'& 9&'!& *
'!"" !::% 6!* $# ",* 6%&$ T&" & !3&
& $&!, 6%' :% *.
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%!"#& : 9"& 9 & 6%&$ * 6!* !%& !"# &
,& : !"* $$,!% &"&" 6,$'*.
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#$3& * 9"& !,"# $ &! '3&%.
Y '!" '& ! &% : 10> 1?> 20> 2? % 0 *&!%.
A6!% :% :,, 6%&$ 6!*$"# &%> * '!" 6!* *%
6%&$ 3&% > ?> % 10 *&!%.
!%!"&& !$$" : : !%& : & B!$'
P,$'* $ !& " & :$% (1) 6,$'* !""$3&%!%* !"
" &3&%* !,&%"!& 6,$'* !""$3&%!%* &%&!:&% 6 $,, !
!5$ : !,: & 6,$'* &%. T& A $,, 9& 6!*!9,&
$: & $"%& $& $,& & 6,$'* ! 9&&" $" :%'& % $:
& 6,$'* !%&.
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ASSURE GOLDEN YEARS PLAN
A%& ,&" Y&!% $ !" &"&" 6,$'* ! 6%3$&
9 !:&* !" &!* %&%". I" & ":%"!& &3&" :
*% &!> *% &6&"!" $,, %&'&$3& & !%&7
&%$& *% !3$"# $,, '"$"& #%. S, * ,$3&
6! & &% : & 6,$'*> * $,, %&'&$3& 9 &
!%& ! &,, ! ! : 9"&.
K,9 ,/-r,4 i0c5-,:
A #!%!"&& !$$" : 10 : & !%& $: &
6,$'* ! 9&&" $" :%'& :% 10 *&!% % %&> $ 6!*!9,&
" &! % !%$*.
A %&3&%$"!%* 9" $ 6!*!9,& " &! % !%$*.
A T&%$"!, 9" 6!$ " !%$* % &! $: & 6,$'*
! 9&&" $" :%'& :% ! $"$ 10 *&!%.
R&3&%$"!%* !" T&%$"!, 9"& !%& ""-#!%!"&&
!" !%& &6&"&" " C6!"* 6&%:%!"'&.
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TATA AIG LIFE NIRBHAY LIFE
T!! AI L$:& ! ! ,& "& 6!%$'$6!$"# 6,!" $' $,,
%6%$& * '"$"!,,* $ $ %&!%!9,& 9&"&:$.
P%&$ !%& 6!*!9,& ",* :% & :$% *&!%> !:&% $'
* $,, %&'&$3& !,, *% "&* !" ' %&
Y '!" 6 :% ! 6,$'* ! ,! 12> 1? % 20 *&!%.
D%$"# & &% : & 6,$'*> * $,, %&'&$3& 10 : &
!%&.
T/? B,0,i4 Aiio0/5 B,0,i4 /0 A3, E5i3i
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FINDINGS
QUESTIONNAIRE ANALYSIS
L$1$ Aave yo ta#en i"e Insrance "or yo
Bes No
?D =
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Q;2; W#& $6 &-. I6-.!.
6I7 rivate Sector Insrer oth
?D 1>D @D
INFERENCE:? : & %&6"&" :&, ! & ,$' 9& 6,$'*@$,& 1 : %&6"&" # $ ! " #> ;# ! 9 6,$'* !%& #
LI"
#ri.ate SectorInsurer
Bot-
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L$=$ 9ho is yor .gent
Od "amiy agent
"or years
ro"essiona .c/aintance3So
meone re"erred
riend3amiy
mem&er3reative
Other
1D 2D 12D =2D 2D
INEEN7E
1D agent are od "amiy agent, 2D are pro"essiona,12D are ac/aintance, =2D are "amiy
and "riends whie 2D are others
O1 2a!i3 agent 2or
3ears
#ro2essiona
Ac4uaintance5So!eone
reerre1
$rien15$a!i3
!e!6er5reati.e
Ot-er
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L$?$ Aow mch is the ma4imm anna income a ayman can thin# o" "or an
Insrance .gent
:pto s$ ? acs s$ ? to s$ 10
acs
s$ 10 to s$ ?0
acs
s$ ?0 acs P
D 1@D @D 1D
INEEN7E
D eope thin# that an insrance agent has ?acs saary annay, 1@D thin#s that it
is pto 10 acs, @D thin#s that it is pto ?0 acs and 1 D thin#s that it is a&ove ?o acs
U7to Rs. 8 acs
Rs. 8 to Rs. ,' acs
Rs. ,' to Rs. 8' acs
Rs. 8' acs 9
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L$@$ *iven an opportnity, wod yo i#e to earn a &ig and sta&e income &y &eing
a part o" %ata .I*
Bes No
8D 1
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RECOMMENDATIONS
RECOMMENDATIONS
M%& &6!$ , 9& " 6%$"!, !'$3$$&.
P,&"* : !3&%$&&" , 9& "& %# T.V>
N&6!6&% !" R!$ ! && &$!G !%& !3$"# !5$
%&'!,, 3!,&.
T!, :$"!"'$!, 6,!""$"# !" !3$'& , 9& #$3&" &3&%*
'&%.
M%& 9$"& 66%"$* &$"!% , 9& '"'&
!& 6&6,& !!%& : & ::&% #$3&".
T& '6!"* , $& :%&&",* &" &$% !#&" &
'&% ! &* , 9& !!%& : & ,!& ::&%.
T& '6!"* , !&6 6&" %& !" %& : $
9%!"'& $" & '"%* ! 6%& &$% 6%'
69,$'$*.
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LIMITATIONS
Every stdy has to have imitations in terms o" time cost, hman error F so on the
&est e""orts were pt in to get in"ormation "rom the company$ +ring the entire
research period witch spanned "or 2 months there were certain constraints "aced
&ecase o" circmstances and capa&iities$ %he research condcted was nder the
"oowing constraints
%here are - nec# to nec# competition &etween Insrance 7ompanies$
.s the pro'ect had a time imit o" 8 wee#s$ *etting appointments "rom the
respondents ta#es time$
Non participation o" the respondents in the research process de to "ear o"
discosing the detais a&ot the in"encers$
%ime and distance were another "actor that sewed as the imitation since ocated in
ots#irts o" +ehi$
%he company did not gave any in"ormation regarding the "inance$
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QUESTIONNAIRE
CHANGING PROFILE OF INSURANCE AGENT
A PRACTICAL CASE STUDY
R!6&*!' D!'$"6
N!: D'! & B$.'#:
A/!:
A**.!66:
T!"!#&!: (M&8$"!) (&) (R!6$)
M.$'" 6''-6: S$/"! M..$!* S!: M F
E*-3'$&: U*!./.*-'! G.*-'! P&6' G.*-'! O33-'$&:
A-" I3&! (R6;): U '& 1 "#1 % 2 "#2 % "# % 5 "#5 % 10 "#10
"#
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TICK IN THE APPROPRIATE ANSWERS GIEN BELOW;
(1) Aave yo ta#en 6i"e Insrance "or yo Y!6 N&
(IF YES MOVE TO SET 1 ; IF NO MOVE TO SET 2)
SET 1
(2) 9ho is yor Insrer
a (a) 6I7
& (&) rivate Sector Insrer
c (7) oth
($ '#! 3#&$3! $6 (8) &. (3) &. J-!6'$& -8!. 2 '#! 6
)
(
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there are advisor who have started toching the ?0 a#hs "igre and are sated to
achieve mch more than that within this year$
(8) .re yo aware o" a arge nm&er o" sccess" insrance advisor o" a company
growing p the vae change and &ecoming eaders with sta&e earning o" mch
more than s$ ?0 a#hs per annm
Bes 3 No
P.&': .I* o""ers a growth pan to its advisor wordwide and a arge nm&er o"
sch &siness partner earn more than one miion doars per annm$ Simiar pan in
India ma#es the advisor grow into siness .ssociate, who recrit, deveop and
manage arge saes team$ Sccess" siness .ssociate are earning p to more than
s$ 2? a#hs per annm, with the income growing rapidy every year$ %he day o"
Indian iionaires (In :S doar terms) is not "ar$
(>) +o yo thin# that "tre ives in service F #nowedge sectors
Bes 3 No
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(10) +o yo &eieve yo have the capa&iity to get "resh #nowedge and se it in
&etterment o" the society &y ana;ing their needs F providing right sotions
Bes 3 No
(11) +o yo &eieve yo have the capa&iity o" sccess"y eading a team
Bes 3 No
(1
6#!!')
T.$!! N!C$'I6'$'-'!;;
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R!.6!. I'!.!6'!* I'!.!6'!* N&' I'!.!6'!* F&""&