BAJAJ ALLIANZ LIFE INSURANCE COMPANY

EXECUTIVE SUMMARY
Over the last few decades the role of insurance sector has undergone a paradigm shift. It is widely recognized as an important aspect of the source of security for the policyholder and considered it as a short and long-term investment. I have collected information through primary and secondary sources . The objective of this report is to study Customer Awareness, Perception and Attitude towards Bajaj Allianz Life Insurance Company, In todays competitive business world every customer is significant for the leading insurance sector like Bajaj Allianz Life insurance with competitive strategies, the customer expectations are very high so it should be kept in mind and offer them best possible service. The report deals with the conceptual background of insurance and over view of the company, the next part deals with research design of the study that is problem identification, objectives and how the research was carried out. The outcome of the study shows that the level of customer awareness towards Bajaj Allianz is good with the benefits and service what they are giving and most of the people wants to go for investments where there is above average risk and high return. Company can start some good promotional activities to build its brand and to make recognition by all the peoples in the market .The effective marketing channel with the personal selling is an essential factor in influencing insurance companys growth

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INTRODUCTION

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OBJECTIVE OF THE PROJECT

The objectives of this study/project as follows: To Study the Awareness of Bajaj Allianz Life Insurance Company. To know which source has made aware about Bajaj Allianz Life Insurance. To determine which factors customer look for while investing in Bajaj Allianz Life Insurance To determine the Customer Perception towards different Private Life Insurance. To Study the Attitude of the Existing customers of Bajaj Allianz Life Insurance.

SCOPE OF THE STUDY

The study covers the information about, a) The various investments in Bajaj Allianz life insurance Company available. b) The awareness level of Insurance. c) The perception of the people. And attitude of existing customer Allianz life Insurance Company.

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RESEARCH METHODLOGY TYPES AND SOURCES OF DATA

1)Primary Data. 2)Secondary Data

PRIMARY DATA: Primary Data is the data collected for the first time for the purpose to solve the problem at hand. In this study the primary data is collected through questionnaire & data collected by visiting a bajaj allianz life insurance company. SECONDARY DATA: The major sources of secondary data are as follows, 1. WEBSITES. 2. Broachers.

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NEED FOR STUDY

Assets are insured; because they are likely to be destroyed through accidental occurrences such possible occurrences are called perils. Fire floods breakdowns, lighting, and earth quakes etc. If such perils can cause damage to the asset the asset is exposed to that risk. The risk only means that there is a possibility of loss or damage. The damage may or may not happen. Insurance is done against the contingency that it may happen. There has to be an uncertainty about the risk. Insurance is relevant only if there are uncertain. In the case of a person who is terminally ill the time of death is not uncertain though not exactly known. Insurance does not protect the asset. It does not prevent its loss due to the peril .The peril can sometimes be avoided, through better safety and damage control management. Insurance only tries to reduce the impact of the risk on the owner of the asset and those who depend on that asset. It only compensates the looses and that too, not fully. Only economic consequences can be insured. If the loss is not financial insurance may not be possible.

HISTORY AND ORIGIN OF BAJAJ ALLIANZ

Bajaj Allianz Life insurance company limited is a union between Allianz SE, the worlds leading insurer and Bajaj Auto, one of Indias most respected names. Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (over RS 55, 00,000 crores). At Bajaj Allianz, we realize that you seek an insurer you can trust your hard earned money with. Allianz SE has more than 110 years in the Indian market, are committed to offering you financial solutions that provide all the security you need for your family and yourself. At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering you customized products with transparent benefit supported by the best technology is our business philosophy. The Bajaj Group is amongst the top 10 business 5|Page

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houses in India. Its footprint stretches over a wide range of industries, spanning automobiles (two-wheelers and three-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance. The groups flagship company, Bajaj Auto, is ranked as the worlds fourth largest two- and three- wheeler manufacturer and the Bajaj brand is well-known in over a dozen countries in Europe, Latin America, the US and Asia. Founded in 1926, at the height of India's movement for independence from the British, the group has an illustrious history. The integrity, dedication, resourcefulness and determination to succeed which are characteristic of the group today, are often traced back to its birth during those days of relentless devotion to a common cause. Jamnalal Bajaj, founder of the group, was a close confidant and disciple of Mahatma Gandhi. In fact, Gandhiji had adopted him as his son. This close relationship and his deep involvement in the independence movement did not leave Jamnalal Bajaj with much time to spend on his newly launched business venture.

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OVERVIEW OF THE COMPANY

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COMPANY PROFILE:
Bajaj Allianz Life insurance company limited is a union between Allianz SE, the worlds leading insurer and Bajaj Auto, one of Indias most respected names. Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (over RS 55, 00,000 crores). At Bajaj Allianz, we realize that you seek an insurer you can trust your hard earned money with. Allianz SE has more than 110 years in the Indian market, are committed to offering you financial solutions that provide all the security you need for your family and yourself. At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering you customized products with transparent benefit supported by the best technology is our business philosophy.

INDUSTRY PROFILE:
By any yardstick, India with about 200million middle class households presents a huge untapped potential for players in the insurance industry. Saturation of markets in many developed economies has made the Indian market even more attractive for global insurance majors. The low percentage and per capita penetration of insurance in India compared to other developed and developing countries. With the per capita income in India expected to grow at over 6% for the next 10 years and with improvement in awareness levels the demand for insurance is expected to grow at an attractive rate in India .An independent consulting company .The monitor group has estimated that the life insurance market will grow from Rs. 218 billion in 1998 to Rs. 1003 billion by 2008(a compound annual growth of 16.5%). The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to liberalized market again. Tracing the development in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries. 8|Page

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MAJOR MARKET PLAYERS

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BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD.

Bajaj Allianz Life insurance company limited is a union between Allianz SE, the worlds leading insurer and Bajaj Auto, one of Indias most respected names. Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a Trillion Euros (over RS 55, 00,000 crores). At Bajaj Allianz, we realize that you seek an insurer you can trust your hard earned money with. Allianz SE has more than 110 years in the Indian market, are committed to offering you financial solutions that provide all the security you need for your family and yourself. At Bajaj Allianz, customer delight is our guiding principle. Ensuring world class solutions by offering you customized products with transparent benefit supported by the best technology is our business philosophy.

VISION
To be the best insurance co. in India to buy from, work for and invest in.

VALUES
CORE VALUES Customer delight the guiding principle Ensuring world class solution and services Offering customized product Transparent benefits 10 | P a g e

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BAJAJ AUTO
One of the largest 2 and 3 wheeler manufacturer in the world 21 million+ vehicles on the roads across the globe Managing funds of over s 5,329 cr. Bajaj Auto finances one of the largest auto finance cos. In India Rs. 6,340 Cr. Turnover and Profits after tax of 767 Cr. in 2004-05

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ABOUT BAJAJ
The Bajaj Group is amongst the top 10 business houses in India. Its footprint stretches over a wide range of industries, spanning automobiles (two-wheelers and three-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance. The groups flagship company, Bajaj Auto, is ranked as the worlds fourth largest two- and three- wheeler manufacturer and the Bajaj brand is well-known in over a dozen countries in Europe, Latin America, the US and Asia. Founded in 1926, at the height of India's movement for independence from the British, the group has an illustrious history. The integrity, dedication, resourcefulness and determination to succeed which are characteristic of the group today, are often traced back to its birth during those days of relentless devotion to a common cause. Jamnalal Bajaj, founder of the group, was a close confidant and disciple of Mahatma Gandhi. In fact, Gandhiji had adopted him as his son. This close relationship and his deep involvement in the independence movement did not leave Jamnalal Bajaj with much time to spend on his newly launched business venture. His son, Kamalnayan Bajaj, then 27, took over the reins of business in 1942. He too was close to Gandhiji and it was only after Independence in 1947, that he was able to give his full attention to the business. Kamalnayan Bajaj not only consolidated the group, but also diversified into various manufacturing activities.The present Chairman and Managing Director of the group, Rahul Bajaj, took charge of the business in 1965. Under his leadership, the turnover of the Bajaj Auto the flagship company has gone up from Rs.72 million to Rs.46.16 billion (USD 936 million), its product portfolio has expanded from one 12 | P a g e

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to and the brand has found a global market. He is one of Indias most distinguished business leaders and internationally respected for his business acumen and entrepreneurial spirit.

MAJOR MARKET PLAYERS

1) Birla Sun Life Insurance Company:

Birla Sun Life Insurance is the coming together of the Aditya Birla group and Sun Life Financial of Canada to enter the Indian insurance sector. The Aditya Birla Group, a multinational conglomerate has over 75 business units in India and overseas with operations in Canada, USA, UK, Thailand, Malaysia, Egypt to name a few.

2) HDFC- Standard Life:

HDFC Standard Life Insurance Company is a joint venture between Indias largest housing finance provider, HDFC and Europes largest mutual life assurance company The Standard Life Assurance Company. HDFC Standard Life Insurance Company Limited is the First Private Sector Life Insurance Company to be granted license. Aviva is UKs largest and the worlds sixth largest insurance Group. It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world. With a history dating back to 1696, Aviva has a 30 million-customer base worldwide. It has more than 317 billion of assets under management. Avivas Fund management operation is one of its key differentiators. Operating from Mumbai, Aviva has an experienced team of fund managers and the range of fund options includes Unitized With-Profits Fund and four Unit Linked funds: - Protector Fund, Secure Fund, Balanced Fund and.

3) Life Insurance Corporation of India (LIC): 13 | P a g e

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The Life Insurance Corporation Of India was established about 44 years ago with a view to provide an insurance cover against various risks in life .A monolith then, the corporation, enjoyed a monopoly status and became synonymous with life insurance .Its main asset is its staff strength of 1.24 lakh employees and 2,048 branches and over 6 lakh agency force .LIC has hundred divisional offices and has established extensive training facilities at all levels. At the apex, is the Management Development Institute, seven Zonal Training Centers and 35 sales Training Centers .At the industry level, along with the government and the GIC, has helped establish the national insurance academy. It presently transacts individual life insurance businesses, group insurance businesses, social security schemes and pensions, grants housing loans through its subsidiary; and markets savings and investment products through its mutual fund .Its pays off about Rs 6,000 crore annually to5.6million policyholders. 4) Om Kotak Mahindra Life Insurance: Established in 1985 as Kotak Capital Management Finance promoted by Uday Kotak the company has come a long way since its entry into corporate finance .It has dabbled in leasing, autofinance, investment banking, consumer banking, and broking. The company got its name Kotak Mahindra as Industrialists Harish Mahindra and Anand Mahindra pickes a stake in the company. Kotak Mahindra is today one of Indias leading financial institutions.

5) Max New York Life:

Max India:It is a multi business corporation that has business interests in telecom services ,bulk pharmaceuticals ,electronic components and specialty products .It is also the service oriented businesses of health care ,life insurance and information technology.

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New York Life: New York Life has grown to be a fortune 100 company and an expert in life insurance .It was the first insurance company to offer cash dividends to policy holders .In 1894, New York Life pioneered the then unheard of concept of insuring women at the same rate as men. Thereafter, it continued to introduce a series of firsts a disability clause in 1920.unemployment insurance in 192 and complete customer care on the web in 1998. Today New York Life has over US billion in assets under management and over 30,000 agents and employees worldwide. With over 3 million policyholders, New York Life Insurance is a leading provider of insurance in a host of countries worldwide.

6) Aviva Life Insurance India:

It is joint venture between Dabur, one of India s oldest and largest groups of companies and Aviva. Aviva plc is UKs largest insurer .In accordance with government regulations, Aviva holds a 26% stake in the new venture and Dabur holds a 74%share. Aviva: It is the worlds seventh largest insurance group (based on gross worldwide premiums) and the biggest in the UK .It is one of the leading providers of life and pensions products to Europe and has substantial businesses elsewhere around the world .Its main activities are long term savings, fund management and general insurance.

7)

ING Vysya Life Insurance:

ING Group: ING Vysya Life Insurance is a joint venture between three pioneers, ING Insurance, ING Vysya Bank and GMR group. Over the last 150 years .ING group has grown to become one of the largest life insurance organizations in the world. Today is touches the lives of over 50 million people across 65 countries .It offers a ranges of financial services including insurance ,pensions ,banking and asset ,management .In the year markets ,which require substantial investments underlying INGs long-term commitment .In the last 20 years ,ING 15 | P a g e

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group has established successful life insurance companies in 15 countries contributing to the development of insurance services in these countries

ING Vysya Bank Limited: It is one of the Indias premier private sector banks with a heritage of over 70 years. With 1.5 million customers, 480 outlets and 6000 employees it is known for its innovative banking. Services and for pioneering several products and services. ING Vysya bank has a longstanding relationship with its customers and deep understanding of the Indian market

8) Met Life Insurance Pvt Company:

It was corporate as a joint venture between Met Life International Holdings, Jammu & Kashmir, and other private investors. MetLife is headquartered in bang lore with offices and presence in major Indian cities, and additional 1000 outreach points through its channel partners.

9)

Allianz Bajaj Life Insurance Company:

It is also a joint venture between two leading conglomerates Allianz AG, one of the worlds largest insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the world.

Foreign Partner: it is one of the worlds leading insurers and financial service providers. Founded in 1890 in Berlin, Allianz is now present in over 70 countries with almost 174,000 employees. At the top of the international group is the holding company, Allianz AG, with its head office in

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Munich. Allianz group provides its more than 60 million customers worldwide with a comprehensive range of services in the area of Property and casualty Insurance Life and Health Insurance Asset Management and Banking

10). SBI Life Insurance Company Ltd:

SBI Life Insurance Company Ltd is a joint venture between Indias largest banks, State Bank Of India & Cardiff S A, a leading life insurance company in France State Bank of India is a household name, and it stands as the last word for financial strength and security in the country. SBIs illustrations background dates back to the year 1806 when it started business, as a presidency bank, known as bank of Bengal Over the long journey, it has learnt to combine the best of banking practices handed down from the imperial management with the more dynamic ways of doing banking in the modern India. It has grown as a responsible giant in the banking field over the years.

The Market Share of each company

Name of the Player LIC ICICI Prudential Birla Sun life Bajaj Allianz SBI Life HDFC std TATA Aig

Market Share (%) 74.26 7.24 1.84 5.68 1.49 3.11 1.67

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Max New York Aviva Om Kotak Mahindra Ing Vysya AMP Sanmar MetLife

1.33 1.13 0.73 0.60 0.49 0.38

BAJAJ ALLIANZ LIFE INSURANCE DISTRIBUTION NETWORK

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NETWORK FOR REACH

BAJAJ ALLIANZ LIFE INSURANCE DISTRIBUTION NETWORK

Agency channel

Bancassurance

Group & Alternate channel

Standard chartered Bank Branches (257)

Employee Benefit

Syndicate Bank Satllites (643) GE Money

Corporate Agents

Franchisees
Over 2, 00,000 strong Tied Agency Force And growing Rapidly everyday

Urban Co-Op Banks Dist. Co-Op Banks Regional Rural Banks Catering to mass & Rural markets

Direct Marketing 19 | P a g e

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Brokers

NETWORKED FOR REACH

Strong Branch Network of 900+ Branches and growing Over 10000+Sales Team Managers 200,000+ Insurance Care Consultants 170+ Bancassurance partner across the country Strong alternate channel with 2200 Franchisees, 200 corporate agents, 74 brokers and 28 direct marketing branches.

GROWING REACH THROUGH TIE-UPS

Bancassurance Pioneered the phenomenon in India 170 bancassurance partners One of our core focus areas tie-ups with large national and pvt. Sector banks Standard Chartered Bank Syndicate Bank GE money Tie-up with Co-Op Bank and Regional Rural Banks (Catering to mass and Rural markets) 20 | P a g e

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Expanding reach also through tie-ups with large regional banks Exclusive life insurance products- MRTA and Credit Shield. Products customized to suit specific need of Banks.

ALTERNATIVE CHANNELS
The Strategic Alliances group at Bajaj Allianz focus Group insurance and Corporate Agency network. Corporate Agents, Brokers and Franchisees A constantly growing nationwide network of Corporate Agents, Brokers and Franchisees. A decentralized, dedicated team of professionals to recruit, develop and support Corporate Agents, Brokers and Franchisees. Financial Services Consultants

A set of expect financial advisors to address comprehensive financial planning needs of high net worth clients.

Products designed to suit your needs.

Decentralized Operations

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Insure in minutes

Service any where

INSURE IN MINUTES AT CCC

CCCs fully empowered to Issue policy end to end (from collection to issue and prepare policy bond) IT enabled process geared to insures in few minutes from starts to finish Only pvt. Insurance co. to do so.

CUSTOMERS FROM ANY CCC OFFERED ALL SERVICE AT ALL CCC

Policy holder from any CCC Can get basic policy servicing at any of our CCCs No Ho interface Can pay renewal premium : Online renewal At any of XXX offices Through Bill Junction Cheque drop boxes across the country Credit cards or direct debit for standard chartered customers.

PRODUCTS TO SUIT YOUR NEEDS

Individual Plans

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Group Life Plans

INDIVIDUAL PLANS

we

In our constant endeavor to secure a bright and happy future for you and your family, offer a range of insurance products that is just perfect for your

investment needs.

Unit linked insurance plans Traditional insurance plans Team plans.

UNIT LINKED INSURANCE PLANS

Offering insurance plans with flexibility and tax benefits Capital Unit Gain : Big Boss of ULIPs

This plan offers the highest allocations of 97% for Regular Premium insurance plans in the market. With a lifetime of protection to match insurance and investment needs, this Unit linked endowment plan has an option of unlimited top up to park your windfall gains. New Family Gain: Policy as pure as your love for family.

With Bajaj Allianz Family Assure, you can invest in one life insurance plan that can take care of all your changing requirements. This plan has been designed to provide you with maximum flexibility, so that you do not have to worry about your changing needs.

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TRADITIONAL INSURANCE PLANS

That helps you save tax and earn more interest

InvestGain : An Endowment Plan

This savings plan combines high protection (up to quadruple cover) with a unique family income benefit. CashGain : Momey Back Plan

This is the only money back plan that offers quadruple protection, going up to 4 times the basic sum assured, and a family income benefit. Save care economy SP : Single Premium Endowment Plan

Bajaj Allianz Super Saver is a regular premium endowment plan, which helps you save regular amounts for a safer tomorrow. It also provides you with extra benefits of Guaranteed Additions to your sum assured, at the end of each policy year. Health care

The 6-in-1 health care plan at just Rs 100/- per month is a wonderful way to secure health for 3 years term. A 6- in-1 health insurance plan that offers: Life Cover Hospital Cash benefit Surgical benefit Post Hospitalization Benefit Critical Illness Cover . TERM PLANS Pure Insurance Plans to protect family 24 | P a g e

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TermCare : Term Plan With Return-of-Premium

An economic way to providing life cover, this plan also ensures the return of all premiums at the time of maturity. RiskCare : Pure Term Plan

The Bajaj Allianz Risk Care Plan in a pure term insurance plan & offers one of the most economical means to provide financial security to your loved ones. The only pure term plan in the market to provide Hospital Cash Benefit. Lifetime Care : Whole Life Plan

This whole life plan provides survival benefits at the age of 80 thereby making sure you are financially secure at a time when you need it the most. GROUP LIFE PLANS Bajaj Allianz provides an exciting range of group products which enable organization to provide protection and care to their members / employees. o Group Credit Shield o Group Term Life o Group Term Life Scheme in Lieu of EDLI o Group Gratuity Care o Group Superannuation Care o Small Group Term Life

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DATA ANALYSIS AND

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INTERPRETATION

DATA ANALYSIS AND INTERPRETATION

Data collected is useful only after analysis. Data Analysis involves converting a series of recorded observations into descriptive statements and inferences about relationships. The types of analysis that can be conducted depend on the nature of the measurement instrument and the data collected method. If the researcher selects the analytical techniques prior to collecting data, the researcher should generate fictional responses to the measurement instrument, these dummy data are then analyzed the results of this analysis will provide the information required by the problem at hand. The results obtained by analyzing such data may not be accurate due to present of dummy data, so it is preferable to select analytical technique after collection of data, depending on data collected.

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TABLE.1. Showing the Occupation of Respondents. OCCUPATION BUSSINESSMEN PRIVA.EMPLOYEE GOVT. EMPLOYEE PROFESSIONALS STUDENTS OTHERS Interpretation: From the table it has been observed that, 28 out of 60 respondents are belong to Businessmen, 06 respondents are belong to Private Employee, O5 respondents are belong to Government Employee, 07 respondents belong to Professionals, 11 respondents are belong to students and 03 respondents are belong to other categories. So that major respondents are belongs to Businessmen. TABLE.2 Showing the Age Group of Respondents. NO.OF RESPONDENTS 28 06 05 07 11 03 PERCENTAGE 46.6% 10.0% 8.3% 11.6% 18.3% 05%

AGE GROUP 18 TO 25 26 TO 35 36 TO 45 46 & ABOVE Interpretation:

NO.OF RESPONDENTS 20 22 13 5

PERCENTAGE 33.3% 36.6% 21.6% 8.3%

From the table it is clear that, out of 60 respondents, 20 respondents are falls in the Age group of (18 to 25), 22 respondents are falls in the Age Group of (26 to 35), 13 respondents are falls in the Age Group of (36 to 45), And 05 respondents fall in the Age Group of (46 & above).

TABLE.3 Showing the Family Size of Respondents

FAMILY SIZE 0 TO 3

NO.OF RESPONDENTS 10

PERCENTAGE 16.6% 28 | P a g e

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3 TO 5 5 TO 7 7 & ABOVE Interpretation:

22 15 13

36.6% 25.5% 21.6%

From the table it has been observed that, out of 60 respondents 10have the Family size between (0 to3), 22 respondents have the family size between (3 to 5), 15 respondents have the family size between (5 to 7). 13 respondents have the family size between (7 & above), So that major respondents belong to size of family between (3to 5). TABLE.4. Showing the Income Group of respondents INCOME GROUP 3000 TO 5000 /month 5000 TO 10000/month 10000 TO5000/month 15000 TO ABOVE NO.OF RESPONDENTS 06 17 14 11 PERCENTAGE 10.0% 28.3% 23.3% 18.3%

Interpretation: From the table it has been observed that, out of 60 respondents, O6 respondents have the Income between (3000 to 5000), 17 respondents have the income between (5000 to 10000), 14 respondents have the income between (10000 to 15000) and 11 respondents have the income between (15000 & above). TABLE.5. Showing respondents Awareness about Life Insurance.

YES NO Interpretation:

56 04

93.3% 6.6%

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From the table, it is observed that, out of 60 respondents, 56 respondents are Aware about Life Insurance, and 06 respondents are not Aware about Life Insurance. So that majority of the respondents are Aware of Life Insurance. TABLE.6. showing respondents Awareness about Bajaj Allianz Life Insurance Company.

YES NO Interpretation:

32 28

53.3% 46.6%

From the table, it is observed that, out of 60 respondents 32 respondents are Aware about Bajaj Allianz Life Insurance Company, and 28 respondents are not Aware about Bajaj Allianz Life Insurance Company. So that most of the respondents are not Aware of Bajaj Allianz Life Insurance. TABLE.7. Showing respondents Sources of Awareness.

SOURCES MEDIA AGENT FRIENDS NEWS PAPER Interpretation:

NO.OF RESPONDENTS 06 18 07 02

PERCENTAGE 18.7% 56.2% 21.8% 6.25%

From the table, it is observed that, out of 32 respondents O6 respondents are Aware about Bajaj Allianz Life Insurance through Media, 18 respondents are Aware through Agent, 07 respondents are Aware through Friends, and 02 respondents are Aware through News Paper. So that major source of Awareness of respondents is Agent.

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TABLE.8. Showing respondents Influence Factors

FACTORS SECURITY HIGHRETURNS RIS COVERAGE SERVICE OTHERS

NO.OF RESPONDENTS 55 34 16 18 01

PERCENTAGE 91.0% 53.1% 26.6% 30.0% 1.6%

Interpretation: From the above table, 91% of the respondents are look for security while investing in Bajaj Allianz, 53% of the respondents look for high returns, 26.6% of the respondents look for risk coverage, 30% of the respondents look for service and 1.6% of the respondents look for others. So that most of the respondents look for security while investing in Bajaj Allianz Life Insurance. TABLE.9. Showing respondents Happy with the Benefits of Bajaj Allianz Life Insurance. YES NO Interpretation: From the table it has been observed that, out of 40 respondents, 36 respondents are happy with the Benefits of Bajaj Allianz Life Insurance, And 04 respondents are not happy with the Benefits of Bajaj Allianz Life Insurance. So the major respondents are happy with the Benefits of Bajaj Allianz Life Insurance. 36 04 90% 10%

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TABLE.10. Showing respondents Rating with the Benefits of Bajaj Allianz Life Insurance. RATING VERY GOOD GOOD OK NOT GOOD Interpretation: From the table it has been observed that, out of 40 respondents, 28 respondents have given rate as Very Good, 08 respondents have given Good, 03 respondents have given Ok and 01 respondent has given Not Good, So the Majority of respondents have satisfied with the Benefits of Bajaj Allianz Life Insurance. NO.OF RESPONDENTS 28 8 3 1 PERCENTAGE 70.0% 20.0% 7.5% 2.5%

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FINDINGS , RECOMMENDATION & CONCLUSION

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FINDINGS
From the market research study it has been observed that 90% of the respondents are Aware of Life Insurance. From the market research study it has been observed that 53% of the respondents are Aware of Bajaj Allianz Life Insurance 62% of the respondents are Aware of Bajaj Allianz Life Insurance through Agent. About 91% of the respondents are look for security while investing in a Bajaj Allianz Life Insurance. It was founded that 63% of the respondents are rate the service of Bajaj Allianz Life Insurance as very good. 90% of the Existing Customers are Happy with the Benefits of Bajaj Allianz Life Insurance. 80% of the respondents are Rate the Benefits of Bajaj Allianz Life Insurance as Very good.

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RECOMMENDATIONS:

The Bajaj Allianz Life Insurance Company should concentrate heavily on attractive Advertisements and various Promotional Strategies like, giving Pamphlets; put the hoardings and banners at important locations of all over india.Where the movement of the people is very high, Should be used to bring out the Awareness. People should be educated by giving seminar in Business Conferences, installing stalls in Business Exhibitions. And Company should conduct seminars in Educational Institutions to provide information about company and its products. Company has to create a sense of security among the customers. Because most of the people fear about security in Private life Insurance. So Company has to explain and highlight about IRDA, which will give support to the Private life Insurance.

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SUGGESTIONS
The Bajaj Allianz Life Insurance Company should concentrate heavily on attractive Advertisements and various Promotional Strategies like, giving Pamphlets, put the hoardings and banners at important locations .where the movement of the people is very high, Should be used to bring out the Awareness. People should be educated by giving seminar in Business Conferences, installing stalls in Business Exhibitions. And Company should conduct seminars in Educational Institutions to provide information about company and its products. Company has to create a sense of security among the customers. Because most of the people fear about security in Private life Insurance. So Company has to explain and highlight about IRDA, which will give support to the Private life Insurance. Whenever company launches a new products company can conduct some functions for existing policyholders, which ensures direct interaction with exiting costumers. And create the policyholder clubs that gives sense of belongingness.

CONCLUSION
From overall study it can be concluded that Almost, all the people are Aware of Bajaj Allianz Life Insurance through Agent.

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It can be concluded that the people Expectations in a Private Life Insurance Company is Security and Service while purchasing. From overall study it can be concluded that, almost all Existing Customers are Happy with the Benefits of Bajaj Allianz Life Insurance. Most of the people are not Aware of Bajaj Allianz Life Insurance Company.

Questionnaires

Dear sir/ madam, I am pleased to introduce myself as a M.COM student as a part of my curriculum, I am conducting a study on Customer Awareness, Perception and Attitude towards Bajaj Allianz Life Insurance Company at BHIWANDI. So, I hereby request you kindly spare your valuable time to fill this questionnaire, which will help me in my project work.

(Please mark for the relevant box)

1. 2.

Sex: Occupation

Male

Female

a) Govt Employee c) Businessman e) Student 3. Age a) 18 to 25

b) Private Employee d) Professional f) Other

b) 26 to 35

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c) 36 to 45 4. Family Size a) 0 to 3 c) 5 to 7 5. Income a) 3000 to 5000 p.m c) 10000 to 15000 p.m

d) 46 & above

b) 3 to 5 d) 7 & above

b) 5000 to 10000 p.m d) 15000 & above

6. Are you aware of Life Insurance? a) Yes b) No

7. Which are the Life Insurance Companies are you aware of? a. _ _ _ __ _ _ _ __ _ b. _ _ _ _ __ _ _ _ _ _ c. _ _ _ _ _ _ _ _ _ _ _ d. _ _ _ _ _ _ _ __ _ _ _ e. _ _ _ _ _ _ _ _ _ __ _ f. _ _ _ _ _ _ _ _ _ _ _ _

8. Are you aware of Bajaj Allianz Life Insurance Company? a) Yes b) No

9. If Yes, Which of the fallowing sources has made you aware about Bajaj Allianz Life Insurance Company? a) Media c) Friends b) Agent d) News paper

If any specify _ _ _ _ __ _ _ _ _ _ _ _ __ _

10. Which factors do you looking for while investing in a Bajaj Allianz Life Insurance? a) Security c) Risk Coverage ( More than one) b) High Returns d) Service

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If any specify _ _ _ _ _ _ _ _ _ _ __ _ . 12. Your Expectations Or Preference in a Life Insurance while purchasing. a. _ _ _ _ _ _ _ _ _ _ b. _ _ _ _ _ _ _ __ _ c. _ __ __ __ _ _ _ _ d. _ _ _ _ _ _ _ _ __

QUESTIONNAIRE FOR EXISTING CUSTOMERS 1. Are you happy with the Benefits of Bajaj Allianz Life Insurance? a) Yes b) No

1a> If Yes, With respect to, Service, Returns, Life Cover, Charges how would you rate Bajaj Allianz Life Insurance a) Very Good c) Ok 1b> If No, Please specify the Reasons. a. b. c. ___________ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ __ _ _ __ _ _ b) Good d) Not Good

d. ------------------------2. Do you like to suggest anything to the ________________ __ _ _ _ _ _ _ _ _ _ __ __ _ _ _ _ _ _ _______ ___________

3. Your Opinion about Bajaj Allianz Life Insurance. _ _ _ _ _ _ _ __ _ __ __ _ _ __ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ __ _ _ __________________ 39 | P a g e

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THANKING YOU FOR SPARRING YOUR VALUABLE TIME AND ESTEEMED CO-OPERATION.

BIBLIOGRAPHY
TEXT BOOKS
MARKETING MANAGEMENT By. Philip Kotler.

WEBLIOGRAPHY:
www.google.com. www.bajajallianz .life.com. www.bajajallianz.com. www.marketingstrategies.com.

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