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Project on Insurance

Project on Insurance

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Published by Royal Projects

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Published by: Royal Projects on Nov 30, 2010
Copyright:Attribution Non-commercial

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12/13/2013

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Contents
Sr. No.Subjects CoveredPages1.
Project Proposed
9 - 111.1Objective of the project1.2Methodology1.3Sampling1.4Limitations2.
Introduction
12 - 162.1Definition of insurance2.2Functions of insurance2.3Definitions of life insurance2.4Role of life insurance2.5Importance of life insurance3.
Agency business model
17 - 193.1Insurance agencies3.2Functions of agency manage3.3Operational work of insurance agency4.
Indian insurance industry
20 - 274.1History4.2IRDA4.3Changing perception of customers4.4Changing face of Indian life insurance industry4.5Possibilities5.
Global insurance industry
28 - 296.
Functioning of insurance industry
30 - 366.1Insurer’s business model6.2Investment management6.3Key ratios and terms6.4Requirements of an insurance ris6.5Various types of insurance products7.
Insurance and economy
37 - 398.
SBI Life insurance company
40 - 429.
Distribution of insurance product
43 - 4610.
Effective marketing strategies for insurance
47 - 52
1
 
companies
11.
Competitors of SBI Life
53 - 6212.
Comparison of ULIP products
63 - 6913.
Questioner
70 - 7114.
Conclusions and findings
72 - 9115.
Recommendations
92
1. Project proposed
Agency business model of different insurance companies- competitivestrategies.Different agencies of different insurance companies are having somestrategies to survive in the market. Their strategies may be in the form of:
How they target their customers.
How they make their advisors active.
How they make their operational and sales department effective.
How they promote their employees.
How they handle the conflict in agency.
2
 
Objective of the project: -
 
Main objective of the project is to find outthe strategies of different insurance agencies and evaluate them. Project isabout to penetrate the competitors of SBI life. Conclusion of this project cangive an idea of strategies of different companies which may be helpful to thecompany. Now days all the insurance companies in India are trying toestablish themselves in the competitive market. They are introducinginnovative marketing strategies to survive in the market. Many other privatecompanies are looking to enter in the Indian insurance market .so it is veryessential to a company to innovate their marketing strategies in terms of 
Recruiting their advisors
To make their advisors active
Well educated and capable employee in the agency
Marketing of their products
Deployment of their products
Targeting the right and potential customers
Differentiating from other companies
Future plan of the companyThis study consists of to find out the marketing strategies of different insurance companies which are the competitors of SBI Lifeinsurance. This research requires the interview of branch managers of different insurance companies and find out their branches are working interms of above mentioned factors.
Methodology
3

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