INTRODUCTION OF THE INSURANCE

Insurance is a cover used for protecting oneself from the risk of a financial loss. It is important to understand that risk is a part of any person’s life and that it increases as a person increases in age, responsibility and wealth. Insurance is risk coverage against financial losses and should not be taken as an investment instrument. There are mainly two parties involved in this – the insurer and the insured. The insurer is the insurance company who will provide the cover to the insured against any financial losses. The insured may be an individual person or a group of people like an employer, members of a society, etc. A policy is the contract between the insurer and the insured, which states the risks covered, the exclusions, if any, and the benefits reimbursed on the happening of an event like death, illness etc. The policy is paid through what is called a premium, which is a set amount that must be paid by the insured on a monthly, semi-annual or annual basis. On the happening of an event like death, disability, fire, etc, for which the insured is covered, the benefit amount stated in the policy contract can be claimed by the insured.

Classification of Insurance
There are mainly two broad classes of Insurance – Life and Non Life.

Life insurance products include Term Life policies, which give a pure risk coverage of only the death benefit, whereas endowment or money back policies have a risk as well as savings component i.e. death as well as maturity benefit. Also coming under the life insurance umbrella are the Unit – Linked Policies in which there is a risk component and a savings component, which is invested in equity, debt or gilt funds, depending on the insurance company. Non Life insurance products include property or casualty, health insurance or house, fire, marine insurance etc. This insurance class deals with all the non-life aspects of an insured like his/her house, health, land, office, cargo, etc which might bring financial loss.

The aim of all insurance is to compensate the owner against loss arising from a variety of risks, which he anticipates, to his life, property and business. Insurance is mainly of two types: life insurance and general insurance. General insurance means Fire, Marine and Miscellaneous insurance which includes insurance against burglary or theft, fidelity guarantee, insurance for employer's liability, and insurance of motor vehicles, livestock and crops. The Insurance Act, 1972 and the General Insurance Business (Nationalisation) Act, 1972 govern Fire and Marine Insurance, while the Indian Marine Insurance At, 1963 governs marine insurance in our country. These laws contain provisions relating to the constitution, management and winding up of insurance companies and the conduct of insurance business of all types. All insurance business in India has been nationalised.

A Contract of insurance is a contract by which one party undertakes to make good the loss of another, in consideration of a sum of money, on the happening of a specified event, e.g. fire accident or death. Law recognises insurance as a system of sharing risk too great to be borne by one individual

Life Insurance Process Flow
The simplest life insurance business cycle looks like this:

The client approaches the insurer through an agent with a proposal containing his personal details, income details, medical history, products ( the product describes the features provided by the insurer like maturity bonus, claims allowed etc. These features vary from product to product), sum assured (the amount for which the client is covered), term (number of years for which the client is to be covered) and premium amount (installment amount to be paid by the client to the insurer). The agent who brings this proposal is termed as a base/servicing agent for the proposal. The proposal will go through various stages of approval and risk evaluation by the “Central Processing Centre” of the Insurance Company. Upon final approval, a legal agreement, termed as policy, between the insurer and the client is prepared whereby the insurer covers the client for the sum assured. The client is also entitled for some additional benefits, if any, depending on the features of the product taken in the policy. The base agent gets a commission for the policy. The client pays a premium at regular intervals. These subsequent premiums are termed as renewal premiums. The base agent gets a commission on the renewal premium also. The client may come back with some alterations to the policy viz. increase/decrease in sum assured, increase/decrease of the term of policy etc. The insurer will make the relevant changes to the policy and will issue endorsements stating the alterations made and their effect on the policy. During the term of the policy, the client can submit claims. The insurer makes payment against the claim after verification. Depending on the type of claim the policy is either terminated or is kept in force. At the end of the term of the policy, the client gets the sum assured as part of the maturity benefit under life insurance policies. In addition to this the client will get the maturity bonus and any other benefits depending on the product feature.

INDUSTRIAL BACKGROUND OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED

Vikas Gupta joined Bajaj Allianz close to a year ago. The 26-year-old was entrusted with setting up an office for the life insurance major in Itarsi, a small town in Madhya Pradesh.
Gupta was in charge of finding a suitable location, negotiating the rent, buying the furniture and even hiring a couple of junior managers to work for him. He's now got four sales managers reporting to him, who in turn supervise a team of agents. It's not the way most insurance companies in India have grown, but small towns and local recruits are the major planks of Bajaj Allianz's distribution strategy. Having discovered that even the smallest towns can prove rich catchment areas, the insurance company is spreading out rapidly into the interiors. In just about five years, it has rolled out one of the biggest networks in the industry: at present, Bajaj Allianz has around 900 offices across the country, compared with around 330 for market leader ICICI [Get Quote] Prudential. Before the year is out, it will have more than 1,000 offices covering 586 districts, up from the current 450. Bajaj Allianz will be the first private sector insurance player to have a presence in towns like Akola in Chhattisgarh and Uluberia in West Bengal. "We want to be a mass brand and that's why we're looking at a large footprint. Of course, a geographical spread helps derisk the model, which is particularly important for insurance. Today we earn our premia almost equally from each of the four regions," says Sanjay Jain, marketing head, Bajaj Allianz. Still, why so many offices? Jain explains that in the insurance business a physical presence is critical. "People need to know we're going to be around, because insurance is a long-term product where the money is paid out after 15 or 20 years." An office, however small, is a reassuring sign, he adds. Which is why the company has a presence even in towns where the population is less than 50,000, pleasantly surprised by the purchasing power even in states such as West Bengal and Orissa. The strategy seems to be paying off. For the first time, in FY05-06, Bajaj Allianz notched up a first year premium of Rs 2,715.62 crore (Rs 27.16 billion), overtaking market leader ICICI Prudential, which earned Rs 2,637.48 crore (Rs 26.37 billion) as premium during the same period. Observes Arvind Mahajan, executive director, KPMG, "Bajaj Allianz seems to have adapted Allianz's global philosophy - you're never too far from an Allianz shop - rather well. It has a more pronounced retail approach compared to others." The retail approach is combined with one of independence. Once Bajaj Allianz decides on a new location, it typically hires local youngsters to man the office, working on the belief that since insurance is all about trust, customers are likely to have more faith in locals.

000. budgets and targets are set and agents found. While it may use the bank staff for back-office functions.000.around 350-400 sq ft . "In some ways it's like an entrepreneurial effort: they [the local recruits] are the ones driving the business through the agents." says Jain. around 100 district co-operative banks. whether bank counter or a rural outlet. Most offices are small . since it believes the comfort level of the customer may be higher with them than with agents.000 agents. At a later stage." Jain adds. The banks earn a referral fee. Bajaj Allianz already has 18. the company also forged an alliance with GE Money. the company also joined hands with Godrej [Get Quote] Aadhar the rural retail chain that has around 28 outlets across the country. "We don't pay great salaries but we give our office heads a lot of freedom. About six months ago. However.and functional. agents remain the biggest selling channel and so the company ensures that commissions are competitive . In that sense.whether they want to use hoardings or simply remunerate the agents.000 people on its rolls. Bajaj today has 125." says Jain. . at every location.The new recruits are given a more or less free hand: they scout around for an office. way behind LIC's [Get Quote] 1 million but ahead of ICICI Prudential's 100. They take almost all decisions including how they want to spend their ad budgets . which has around 200-odd outlets. and new offices are up and running within a month of the decision to set it up. Bajaj Allianz has also beefed up its distribution by teaming up with 10 co-operative banks. the selling of insurance policies is always done by a company employee. who adds that the response and interest levels at rural malls has been "a revelation". so it's an attractive revenue stream for them.the industry average is around 25-30 per cent. Bajaj has also used local financial advisors. as well as some regional rural banks to drive business to it. in a bid to strengthen its urban distribution. Importantly. furnish it. with an eye on cost control. the idea being to inspire trust in customers. However. and will soon be adding another 7. in some of the towns. Recently. "We have agreed to set up shops-in-shops at all Aadhar outlets and we are also talking to other such rural retail chains. hire managers and agents. the company ensures that it posts its own people. Apart from setting up its own offices in smaller towns. it's a totally decentralised model. Speed is of essence. Not surprisingly.

STRUCTURE OF INSURANCE INDUSTRY HISTORICAL PERCEPTIVES ♦ PRIOR TO 1956 ♦ ♦ 1956 2001 2001 242 COMPANIES OPERATING NATIONALISATION – LIC MONOPOLY PLAYER – GOVERNMENT CONTROL OPENED UP SECTOR PRESENT STRUCTURE OF INSURANCE INDUSTRY ♦ ♦ (A) LIC .FULLY OWNED BY GOVERNMENT (B) POSTAL LIFE INSURANCE .

Ltd. (AMP SANMAR) 12. Ltd. Pvt. Ltd. Ltd. (ICICI PRU) 5. 9. Ltd. TATA AIG Life Insurance Co. HDFC Standard Life Insurance Co. Ltd. Ltd. (BSLI) 3. Sahara India Life Insurance Co. Reliance Life Insurance. (METLIFE) 8. Birla Sun Life Insurance Co. ICICI Prudential Life Insurance Co. Shriram Sunlam ♦ Other likely players – PNB Life Insurance. MetLife India Insurance Co. Bajaj Allianz Life Insurance Co. Max New York Life Insurance Co. AMP Sanmar Assurance Co. Pvt. Ltd. (AVIVA) 13. Aviva Life Insurance Co. Ltd. ING Vysya Life Insurance Co. Ltd. Axa Bharti Enterprises CONTRIBUTION TO INDIAN ECONOMY (i) (ii) Life Insurance is the only sector which garners long term savings Spread of financial services in rural areas and amongst socially less privileged (iii) Long term funds for infrastructure (iv) Strong positive correlation between development of capital markets and insurance/ pension sector (v) Employment generation .♦ (C) PRIVATE LIFE INSURANCE 1. (SBI LIFE) 10. Ltd. Ltd. (TATA AIG) 11. (MNYL) 7. 2. SBI Life Insurance Co. (HDFC STD LIFE) 4. Ltd. Kotak Mahindra Old Mutual Life Insurance Co. (SAHARA LIFE) 14. (ING VYSYA) 6.

AGGREGATION OF LONG TERM SAVINGS
(i) Total Assets of Life Insurance Companies 2002 – 2003 2003 – 2004 2004 – 2005 2,80,450 3,52,608 4,23,000 * (ii) Total Premium generated 2002 – 2003 2003 – 2004 2004 – 2005 57,708 cr 66,278 cr 79000 cr * (iii) Industry is growing @ 19 p.a. (iv) At this growth rate, the future premium income generated will be 2005 – 2006 2006 – 2007 2007 – 2008 94,000 1,12,000 1,33,000 (v) Life Insurance funds account for 15% of household savings. (vi) The industry has the potential to increase the share to 20%.

SPREAD OF FINANCIAL SERVICES IN RURAL AREAS AND AMONGST SOCIALLY UNDERPRIVILEGED
• IRDA Regulations provide certain minimum business to be done (i) in rural areas (ii) in the socially weaker sections • Life Insurance offices are spread over nearly 1400 centres. • Presence of representative in every tehsil – deeper penetration in rural areas. • Insurance agents numbering over 6.24 lakhs in rural areas. • Policies sold in rural areas (2004-05) - No. of policies - 55 lakhs Sum assured 46,000 crores

• Social security - No. of lives covered 2003-04 17.4 lakhs 2004-05 42.1 lakhs

LONG TERM FUNDS FOR INFRASTRUCTURE
• For GDP to grow at 8 to 10%, qualitative improvement in infrastructure is essential. • Estimates of funds required for development of infrastructure vary widely. • An investment of 6,19,600 crore is anticipated in the next 5 years (Source : SSKI India) • Tenure of funding required for infrastructure normally ranges from 10 to 20 years. • Major portion of these funds are routed through debt/private equity participation. • Part funding through Central Government/State Government budgetary allocations. Insurance companies invest in Central/State Government approved securities which ultimately also used for infrastructure projects.

• As per IRDA norms, the pattern of investment of life insurance companies’

funds are : -

(i) In Central Government, State Government and other approved securities – not less than 50% (ii) Infrastructure – 15% • Investment in the infrastructure projects is a natural fit for life insurance companies who have long duration funds. Average Term 23 years. • Has investments of over Rs.40,000 cr in infrastructure. • It is expected life insurance sector be able to generate approximately Rs.15,000 cr for infrastructure investment in 2006-2007 with amount increasing every year.

♦ Industry also contributes in economic development through

DEVELOPMENT OF CAPITAL MARKETS/ ECONOMIC GROWTH

investments in capital market. Present level of investments is over Rs. 40,000 crore. (Mark to Market basis around 80,000 crores). ♦ Annual Investment of around 9000 crores in capital markets. ♦ Contribution to Five Year Plans 9th Plan 2,30,900 crores Last Two Years 1,70,900 crores ♦ Helps inculcate a sense of security by protecting earning of people in case of untimely death. Benefits to Policy Holders 2002 – 2003 2003 – 2004 2004 – 2005 20,800 cr 24,200 cr 28,700 cr

EMPLOYMENT GENERATION
• Life insurance industry provides increased employment opportunities. • Employees in insurance sector as on 31st March, 2005 is around 2 lakhs. • Many agents depend on insurance for their livelihood – No. of agents on 31st March 2004 – 15.59 lakhs •Brokers, corporate agents, training establishments provide extra employment opportunities. • Many of these openings are in rural sectors.

SPECIAL FEATURES OF INSURANCE
Capital Intensive Industry

38%. in Singapore – 6. long term savings more than 10 years deserve special consideration under tax regime. • Distinction between the short term savings and long term savings is critical from investors point of view.26% of GDP.2002 – 2003 2003 – 2004 (i) Total Income 1631 cr 4053 cr (ii) Capital employed 2219 cr 3239 cr (Data excludes LIC) • Tax clubbing of various savings short term and long term into same bracket have a bias towards short term savings. GROWTH POTENTIAL ♦ At present insurance penetration in India is quite low – 2. in Hongkong.77%. ♦ In Korea the penetration stands at 6. PHASE OF TRANSITION • Life Insurance industry is under the phase of infancy after 50 years of monopoly • Competition from within and other sectors of financial market • Needs environmental support till it reaches a comfort zone . More prone to inflationary pressures • Clearly.

Bajaj Auto Is One Of The Most Trusted Name Is Indian Auto For Over 55 Years . At Bajaj Allianz Customer Delight Is Our Guiding Principle .PROFILE OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED Bajaj Allianz Life Insurance Company Is A Union Between Allianz SE. One Of The World’s Largest Life Insurance Companies And Bajaj Auto. ACCELERATED GROWTH . One Of The Biggest 2 & 3 Wheeler Manufacturers In The World.000 Crores).55.00. Supported By Best Technology Is Our Buisness Philosophy . Allianz Se Has Over 115 Years Of Financial Experience In Over 70 Countries . Ensuring World – Class Solutions By Offering Customized Products With Transperentbenefits. Allianz SE Is A Leading Insurance Conglomerate Globally And One Of The Largest Asset Managers In The World Over A Trillion Eros (Over R.

2003 2003 .15.2006 2006 .685 20.2007 NO OF POLICIES SOLD IN FY 21. IN CR ) 7 69 180 857 2717 4270 FEATURES OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED _ Favorable economic environment … _ GDP growth fastest amongst the world _Asia’s 4th largest emerging market with fastest growth _ Strong manufacturing base and growing service industry _ Untapped potential in urban. semi-urban & rural towns _ Large base of young population _ Rising aspirations and income levels _ Increasing awareness on financial security As a result … _ Industry growth rate : Overall – 23% Private players – 74% _ Market penetration – just 4.81.88.2005 2005 .8% _ High concentration in metros and large cities _ New business premium – 23% to Rs.79.189 7.FISCAL YEAR 2001 – 2002 (6 MTHS) 2002 .Yr – 26%) _Amongst private insurers … .376 1.443 2.2004 2004 .965 1.86. 930 billion _ Market share of private insurers – to 36% (P.217 NEW BUISNESS IN FY (RS.

_ Second largest in new business premium _ In first position on number of policies issues _ Gross Written Premium – 82% Rs. Yr _ Unit linked funds increased by 111% _ 12 new products launched during the current year _ Currently 32 individual products & 9 product groups on offer Performance Summary Rs. in million Share Capital Share premium Sub-total Balance in P & L account Total 2007-08 1.3 57.504 5.9 SHAREHOLDERS FUNDS Rs. 53 billion in P.9 Apr-Mar 07 53.0 97.1 million in P.899) 7.4 32.7 million v/s 2.1 107. Yr _ Number of policies – 3. 97 billion v/s Rs.502 7.107 (4. In billion Gross written premium New business premium Net earned premium Total income Annualized premium equivalent Profit / ( Loss ) Net contribution to policy holders account Apr-Mar 08 97. Yr _ Market share – 10.0 (2.507 10.3% v/s 7.600 12.2 67.760) 4.1) 2.4 43.4% in P.1 60.3 (0.0 53.006 (2.7) 0.246 .208 2006-07 1.

3 million – Rs.101 million Share capital Share premium – Rs.5% 12.0% 13.0% 8.25% 12.0% 8.029 million Economic Assumptions Particulars Cash / Money Market / TB G Secs Corporate bond Equities Inflation Risk discount rate Tax rate Assumptions 5. 5.Total capital infused during the year – Rs. morbidity & lapses are based on industry / reinsures experience & validated against our own experience so far _ Expense assumptions are based on our own expense projection model Sensitivity The sensitivity of the New Business Achieved Profit to Economic assumptions is given below: . 5.5% ( plus 10% surcharge + 3% education cess ) Operating Assumptions _ Operating assumptions like mortality.098 million BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED NEW BUSINESS ACHIEVED PROFIT – FY08 New Business Achieved Profit Rs. 12.0% 5.

statements & values that are predictions of or indicate future events.029 +1% 13.020 10. hospitals of the WorldCare consortium of hospitals like Clevland ○ This rider entitles you to have a 2nd opinion from renowned . trends. This innovative e-opinion rider gives you an opportunity to obtain best of international expertise at a fraction of the cost. ○ Anyone taking this plan is entitled to take a second opinion should there be any illness and an expert consultation is required.717 -1% 10. certain statements & values are forward –looking statements & values including. they are subject e-opinion Bajaj Allianz launches e-opinion rider. Undue reliance should not be placed on such statements & values because by their nature. The proportion of riders with base policies is not very significant _ Comparison with other Life Companies might not be very relevant as actuarial assumptions & methodology used are likely to vary from Company to Company. The policy offers unprecedented access to over 7000 physicians employed by the renowned hospitals of the WorldCare Consortium.Particulars Investment Income Risk Discount rate Base Value 12.954 13.512 Further Consideration _ Any value addition from riders has been ignored.029 12. but not limited to. plans or objective. in the absence of any common agreed process Bajaj Allianz Life Insurance Co Ltd Cautionary Statements Except for the historical information contained herein. which will cover the expenses of 2nd opinion e-consultation services for serious illness in India.

covering total loss of baggage checked by an international airline Tuition Fee . Serious medical condition of the insured requiring hospitalization covered under the policy . world class opinions which will enable the attending doctor and the patient to take informed decisions on the diagnosis and the further course of action. ♦ Opinions for major critical illnesses ♦ Access to over 7000 physicians employed by the renowned hospitals of the WorldCare Consortium. Advantages ♦ Valuable 2nd opinion at nominal cost without physically visiting these renowned hospitals. Duke University. Benefits ♦ Simple process of sending medical reports in digitized form to WorldCare consortium. Student Companion • • • • Personal Accident -covering death and permanent disablement Medical Expenses and repatriation . Massachusetts General Hospital.In the event of the insured unable to continue the school semester due to any of the following reasons arising during the policy period. ♦ This product provides independent.Clinic. subject to maximum the limit shown in the schedule: A. the Company shall reimburse the tuition fee paid inadvance for the current semester.covering hospitalisation expenses arising out of illness/sickness and also repatriation expenses for sending mortal remains to India Loss of checked baggage . Brigam and Women's Hospital. ♦ Three opinions are available per year of coverage and 6 opinions in case it is renewed continuously. ○ Qualified physicians from these renowned hospitals will render a written report which includes a diagnosis and treatment plan within 7 working days .

C. parent.5. family member shall mean spouse. the Company will reimburse the actual cost of economy class transportation by the most direct route via a common carrier subject to maximum the sum insured.080 ♦ Permanent Total Disablement . Features The maximum compensation payable is upon the following scale (as per W.48. For this purpose. Personal Liability . This coverage is also subject to the exclusions of Personal Accident and Medical Expenses sections of the policy.Rs.4. • Family Visit-In the event of the insured become hospitalized as a result of an accidental injury or sickness covered under the policy and the attending physician advises the necessary attendance of a Family Member of the Insured. sibling and in laws of the insured.57. the Company shall reimburse the remaining school fee subject to maximum the limit shown in the schedule. Amendment Act 2000) ♦ Fatal Injury .All Coverage's in USD Coverage Standard Silver • • • Family Visit Loss Of Baggage Medical Expenses Personal Acciden Personal Liabili Accident to Spon Tuition Fee USD 7500 USD 1000 USD 50000 USD 50000 USD 100000 USD 10000 USD 10000 USD 7500 USD 1000 USD 100000 USD 50000 USD 100000 USD 10000 USD 10000 Workmen's Compensation The Indian Workmen's Compensation Act 1923 provides for the payment of compensation by the employer to his employees (for their dependents in the event of fatal accidents) if personal injury is caused to them by accidents arising out of and in the course of their employment. which results in his death or permanent total disability during the policy period. Following are the Plans.covering legal liability attaching in a private capacity during the course of overseas travel.496 ♦ Permanent Partial Disablement .Rs.According to incapacity caused .Accident To Sponsor -In the event of the sponsor named in the schedule meets with an accident during the policy period.

Exclusion ♦ This insurance does not cover any interest and/or penalty which may be imposed on all insured or an insured on account of failure to comply with ALLIANZ BAJAJ CHANGES ITS NAME TO BAJAJ ALLIANZ LIFE INSURANCE COMPANY Mumbai. Ltd. Indemnity against the Employers legal liability to his Employees under the Indian Fatal Accidents Act. and at common Law. Extension ♦ The insurance under table "A"can be extended by charging an additional premium of 50% of book rate to cover disease mentioned in part 'C' of Schedule III of Workmen's Compensation Act. prospective customers and other stakeholders indicated higher comfort level and ease of recalling Bajaj name first and then Allianz. Bajaj Allianz General Insurance Co. Allianz & CEO. 1855 and at common law. Ltd. 2004. effective from August 03. the fastest growing private life insurance co. "We are not only acquiring a new name. and subsequent Amendments of the said Act prior to the date of issue of the policy. The change in company name comes in conjunction with research findings from existing customers. will now have a common logo and branding which will help in increasing our visibility and familiarity which will create a much larger awareness and a greater mindshare. Sam Ghosh. In addition. Ltd. The name change coupled with aggressive strategic market initiatives to reach and service customers better will give us an unbeatable position in the insurance market in this country and both Life & General companies together can unleash the 'Power of . business associates. 2000 per month upto a period of 5 years Bajaj Allianz General Insurance Company Limited policies give an employer any of the following two forms of cover : Indemnity against the Employers legal liability to his Employees under the Indian Workmen's Compensation Act 1923. Commenting on this occasion Mr. under the Indian Fatal Accidents Act. today announced that it has changed its corporate name to Bajaj Allianz Life Insurance Co.. but have put in motion a new level of energy and commitment to delivering the best products.Rs. 1855. the company bears the costs and expenses incurred with its written consent in the settlement of claims. and hence the name Bajaj Allianz.. Ltd & Bajaj Allianz Life Insurance Co. Country Manager. The new logo incorporates the new Bajaj Auto logo.♦ Temporary Disablement . Bajaj Allianz Life insurance said. August 03. 2004 Allianz Bajaj Life Insurance Co.

UnitGain (Unit Linked Whole of Life Plan) and UnitGain Single Premium. with a Rs 63 crore of profit in 2006-07. Bajaj Allianz Life Insurance is poised for an accelerated growth in the market and has already become the fastest growing private life insurance company in India. has emerged as the most profitable private life insurance company in the industry." Bajaj Allianz Life insurance recently launched over 100 satellite branches. Term Care (term with return of premium).13. The life insurance joint venture between Germany’s largest company Allianz and auto major Bajaj Auto has mobilised a new business premium of Rs 4270 crore during the year . The company has also 20 lakh policies which is the largest that any private sector life insurance company has sold in the country. With 2. Swarna Vishranti (Retirement Plan). Gross Written Premium (GWP) in the first 100 days of this financial year and has leaped to 3rd position as per IRDA figures ending June 04. Over 70% of the business of the company with a pan India network and strong retail focus was regular premium for the year and in the month of March 07 over 80% of the business was regular premium. Lifetime Care (whole life). .000 agents. from its 7th position at the end of last financial year. Child Gain (Children's plan). Bajaj Allianz Life Insurance has also brought in key executives. Bajaj Allianz has also forged strong Bancassurance and Corporate Agency relationships and continues to build on new tie-ups for fast track growth and deep market penetration. 2007 Bajaj Allianz Life Insurance. Earlier SBI Life had announced a small profit of over Rs 3 crore for 2006-07. Rahul Bajaj. 200 corporate agents & Bancassurance partners. Risk Care (Pure Term). 100 Cr. The company has he largest distribution network . Cash Gain (Money Back). new life & non-life group products which has helped Bajaj Allianz (formerly known as Allianz Bajaj) to log in Rs.000 agents. new ideas.One' and be the leader in the insurance industry. Its products include InvestGain (a unique life insurance plan where sustenance of income is combined in the same plan that also pays a lump sum). Bajaj Allianz Life Insurance has a wide pan India presence of office network in 156 cities of the country and is aided with a strong and trained Agency network of over 27. efficiency and professionalism to impart state of the art servicing to the customers across the length and breadth of the country. Bajaj Allianz Life Insurance has launched a slew of need-based Bajaj Allianz tops profit chart of pvt life insurers – May 12th. chairman. Protector (Mortgage term insurance plan). 900 offices in 840 towns. to infuse greater thrust. About Bajaj Allianz Life Insurance: Bajaj Allianz Life Insurance Company has developed insurance solutions that cater to every segment and age-income profiles.

“This feat was achieved by efficient capital management. in such a short span of time speaks highly of the management team spearheading this accelerated growth. products to cater to each varied needs of the customer. then the total of last 5 year’s new business (Rs 3821 crore).’’ The company has collected more new business premium in this one year alone. The top most private sector life insurance company ICICI Life with a market share of 29% on the basis of weighted received premium had a negative impact of Rs 480 crore on the ICICI Bank’s consolidated profit after tax in FY2007.Bajaj Allianz Life insurance has said. Individuals Plans        Unit Gain Insurances Term Care Plans Lifetime Care Insurance Policy Business Insurance Policies Savings And Security Policies For You And Your Family Rural Insurance Plan Healthcare Insurance . Bajaj Allianz Life Insurance Company boasts of a nationwide presence with 876 offices and over 4 million satisfied customers. strong cost controls across the company. The company’s unaudited New Business Achieved Profit (NBAP) for FY2007 was Rs 881 crore as compared to Rs 528 crore. Currently Bajaj Allianz Life Insurance has a product portfolio of 18 products and more needbased products are in the pipeline. Bajaj is the biggest two and three wheeler manufacturer in the world. “Crossing the $1 billion in new business premium and a healthy profit of Rs 63 crore.” Sam Ghosh. in FY2006. Plan Or Scheme Of The Company Bajaj Allianz Life Insurance Co Ltd is a unique joint venture among the global giants Allianz Group (AG) and Bajaj Auto. The various insurance products include . country manager Allianz & CEO Bajaj Allianz Life said. Allianz AG's world ranking establishes it among the top insurance companies in the world.

The posting of content and access to this website does not render. either explicitly or implicitly.     Financial Insurance Pension Plus Retirement Plans Children's Policies Endowment Plans and many more. The payments can be direct through cheques. As used below. you acknowledge and you agree that you have read and understood the following terms of use and you agree to be bound by them. Group Insurance Schemes      Insurance For Employee-Employer Groups Insurance For Non-Employer . DD's or directly from your accounts or through credit card. Do not use the Bajaj Allianz Website. TERMS AND CONDITIONS OF BAJAJ ALLIANZ LIFE INSURANCE COMPANY General By accessing this website (the "Bajaj AllianzWebsite") and using its content. any provision of services or products by us. The premiums can also be paid online. the terms "we". Bajaj Auto and other Group Companies"). The insurance policy holders who also have an account with Standard Chartered Bank can avail the direct debit mandate facility.Employee Groups Employees Deposit Linked Insurance New Group Superannuation Scheme New Group Gratuity Care Scheme Special Insurance Policies for NRI's     Investgain Endowment Plan Cashgain Money Back Plan Childgain Kids Special Plan Swarna Vishranthi Bajaj Allianz India offers convenient premium payment and receipt options. Information concerning . "us" and "our" refer to Bajaj AllianzAktiengesellschaft and the Allianz subsidiaries ("Bajaj Allianz. if you do not agree with these terms of use. Use of Content The content is available for informational purposes only.

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Gramin Bank .Bajaj Allianz Life Insurance and Sarva U. Shri.K. Head Business Procurement said “This tie-up will greatly improve our distribution strength in all Uttar Pradesh and help provide life insurance solutions across rural and semi-rural customer base of Sarva U. Speaking on this occasion the Mr.P. Chairman of the Sarva U. Yogesh Gupta.P Gramin Bank “we are very proud to tie-up with Bajaj Allianz Life Insurance and we will now be able to offer insurance benefits and products to our customers” About Sarva U. India’s leading private life insurance company offers the strongest distribution network across the country through it own 1000+ branches spread over 950+ towns and its strong bancassurance partnerships which help its reach out to every corner of the nation.A.P.P. Gramin Bank Join Hands to Distribute Life Insurance to Masses Across Uttar Pradesh Bajaj Allianz Life Insurance. Gramin Bank”Also speaking on this occasion.Loomba.

Bijnor.P. Sharanpur. There has been no transfer of shares during the year and the shareholding pattern is in accordance with the statutory and regulatory requirement. New Family Gain. Haridwar. Bagpat. Bulandshahr. Super-annuation. Care First.A. The registration certificate granted by Insurance Regulatory and Development Authority (IRDA) is valid and the same has been renewed for the year 2007-2008.Sarva U. Risk Care (Pure Term). EDLI. Kissan Gramin Bank Budaun. UnitGain Plus Gold. came into existence by amalgamation of 4 RRBs Viz ( Uttar Pradesh Gramin Bank Meerut. Gonda.. Saran Visitant (Retirement Plan). Bajaj Allianz Life Insurance Company is the leading Private Sector life insurance Company in India. 2. Loomba is the First Chairman of the Bank. All relevant statutory dues payable by the Company havebeen generally deposited on time. New UnitGain Super. Rani Laxmi Baye Gramin bank Jhansi and Devi Pattan Gramin bank Gonda) working in the area spread in whole Uttar Pradesh "East to West". Protector (Mortgage term insurance plan). Jhansi. Sh. sponsored by Punjab National Bank one of the leading commercial Bank of India. Key man Insurance and more).K. Lalitpur and Muzaffaranagar. . the funds of the holders of policies issued in India. Balrampur. 4. Bajaj Allianz Life Insurance has already sold over 5 million policies. for the individual Invest Gain (a unique life insurance plan where sustenance of income is combined in the same plan that also pays a lump sum). Bajaj Allianz Life Insurance has developed insurance solutions that cater to every segment and age-income profiles. Gratuity. For companies it provides comprehensive 'Employee Benefit Solutions' (Group Term Life. Child Gain (Children's plan). The management has not directly or indirectly invested outside India.Gramin Bank. The Bank's operational area spreads in Fourteen Districts viz. Term Care (term with return of premium). the Management of the Company confirms and declares that: 1. With a pan India presence and over 950 + towns. Meerut. Ghaziabad. Cash Gain (Money Back). Lifetime Care (whole life). Budaun. 3. The Bank has its Head Office in Meerut. New UnitGain MANAGEMENT REPORT With respect to the operations of Bajaj Allianz Life Insurance Company Limited (‘the Company’) for the financial year 1 April 2006 to 31 March 2007 and results there of. Gautam Budh Nagar.

10. “Amounts due from other entities carrying on insurance business (including amounts due from reinsurers)”. The Company recognizes the risks associated with the life insurance business and manages the risks by adopting prudent policies to counter the key risks of the Company – namely underwriting and investment risks. 9. Additionally the Company has entered into reinsurance arrangements wherein it reinsures risk in excess of its retention limits to mitigate its risk exposure. 8. We certify that the values of all the assets have been reviewed on the date of Balance Sheet and in the management’s belief. Year 2006-07 2005-06 Days 7 7 . The investment policy is reviewed at least once a year for alignment with the Company’s latest business plan and other developments during the year. “Outstanding Premiums”. “Agents balances”. is lower than their carrying amount. The required solvency margins have been maintained as required by the IRDA. “Investments”. Market value of investment in debt securities (other than unit linked funds) which are valued at amortized cost as per IRDA regulations. Ageing of claims indicating the trends in average claim settlement time is given below. 7.5. 6. The Company has established robust underwriting procedures to mitigate underwriting risks. Claim settlement time for the claims lodged has been around 7 days from the date of receipt of complete requirements. “Cash” and the several items specified under “Other Accounts”. 1938 (4 of 1938) relating to the application and investment of the life insurance fund. The investment risk is managed by laying down appropriate guidelines in the Investment Policy. the assets set forth under each of the headings in the Balance Sheet are shown in the aggregate at amounts not exceeding their realizable or market value under their related headings “Loans”. no part of the life insurance fund has been directly or indirectly applied in contravention of the Insurance Act. The Company does not have operations in any other country. The Investment Policy is formulated by the Investment Committee and approved by the Board of Directors. “Income accrued on investments”. We certify that.

Treasury bills. of the investments (other than unit linked investments). (CRISIL). In case the equity shares are not listed on the NSE. as shown in the Balance Sheet. and The Stock Exchange. Market values have been ascertained for equities on the basis of lower of the closing prices as on the balance sheet date on The National Stock Exchange of India Ltd. then they are valued on the last quoted closing price on BSE. The investments in the Mutual Funds are valued at the Net Asset Values (NAV) of these Mutual funds as on the Balance Sheet date. certificate of deposits and commercial papers are valued at cost plus accretion at yield to maturity. Mumbai. For fixed income securities. We certify that the values. valuation is based on procedure issued by Fixed Income and Money Market and Derivative Dealers Association (FIMMDA). retirement solutions and required pension estimator and premium calculator online. Corporate bonds and debentures are valued on the basis of CRISIL Bond Valuer. We certify that the unit linked investments have been valued on the basis as stated below: Equities have been valued at market values which have been ascertained on the basis of the last quoted closing price on the NSE. Mutual fund units have been valued at the last available Net Asset Value declared by the respective mutual fund. equity shares and mutual fund units that have been valued as per accounting policies prescribed by IRDA. Government securities are valued at prices obtained from Credit Rating Information Services of India Ltd. The Bajaj Allianz insurance agents will guide you about the general life insurance policies best suited to your needs. The insurance agent also briefs you about the insurance quote and the terms on the policy quotes. which consists of fixed income securities. child education cost calculator.2004-05 2003-04 2002-03 3 3 5 11. The Bajaj Allianz Life Insurance website offers human life value estimator. .

These financial statements are the responsibility of the management of the Company. These standards require that we plan and perform the audit to obtain reasonable assurance as to whether the financial statements are free of material misstatement.AUDITORS’ REPORT To The Members of Bajaj Allianz Life Insurance Company Limited We have audited the attached Balance Sheet of Bajaj Allianz Life Insurance Company Limited (‘the Company’) as at 31 March 2007. the Shareholders’ Profit and Loss Account and the Receipts and Payments Account for the year ended on that date. The Balance Sheet. the Shareholders’ Profit and Loss Account and the Receipts and Payments . as well as evaluating the overall financial statement presentation. annexed thereto. evidence supporting the amounts and disclosures in the financial statements. We believe that our audit provides a reasonable basis for our opinion. Our responsibility is to express an opinion on these financial statements based on our audit. and the related Policyholders’ Revenue Account. We conducted our audit in accordance with auditing standards generally accepted in India. An audit includes examining on a test basis. the Policyholders’ Revenue Account. An audit also includes assessing the accounting principles used and significant estimates made by management.

We have relied upon the Appointed Actuary’s certificate in this regard in forming our opinion. • The actuarial valuation of liabilities for life policies in force is the responsibility of the Company’s Appointed Actuary (‘the Appointed Actuary’). 1938 (Act 4 of 1938). • As the Company’s accounting system is centralised at the head office. The Appointed Actuary has also certified that.Account have been drawn up in accordance with the Insurance Act. • On the basis of the written representations received from the Directors of the Company. Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations 2002 (‘the Regulations’) read with Section 211 of the Companies Act. As required by the Regulations.a statement certifying the matters specified in paragraph 4 of Schedule C to the Regulations. the Policyholders’ Revenue Account. issued by the Insurance Regulatory and Development Authority (‘IRDA’) and the Actuarial Society of India in concurrence with the authority. • In our opinion and to the best of our information and according to the explanations given to us. no . • The Balance Sheet. Insurance Regulatory and Development Act. the Shareholders’ Profit and Loss Account and the Receipts and Payments Account referred to in this report are in agreement with the books of account. proper books of account as required by law have been maintained by the Company so far as appears from our examination of those books. as on 31 March 2007 and taken on record by the Board of Directors. 1956. The actuarial valuation of liabilities for policies in force as at 31 March 2007 has been duly certified by the Appointed Actuary. we set out in the Annexure.Further to our comments in the Annexure referred to above. no returns for the purposes of our audit are prepared at the branches and other offices of the Company. 1999. to the best of our knowledge and belief were necessary for the purposes of the audit and have found them to be satisfactory. if any. in his opinion. the assumptions for such valuation are in accordance with the guidelines and norms. we report that: • We have obtained all the information and explanations which.

1956. to the extent applicable and in the manner so required and give a true and fair view in conformity with accounting principles generally accepted in India as applicable to insurance companies: (i) in the case of the Balance Sheet. the Shareholders’ Profit and Loss Account and the Receipts and Payments Account referred to in this report are in compliance with the accounting standards referred to in Section 211 (3C) of the Companies Act. 1956. the Policyholders’ Revenue Account. Further. the Insurance Regulatory and Development Act. as prescribed in the Regulations and orders or directions issued by IRDA in this behalf.1956. • The accounting policies selected by the Company are appropriate and are in compliance with applicable accounting standards and with accounting principles. of the receipts and payments for the year ended 31 March 2007. • The Balance Sheet. of the state of affairs of the Company as at 31 March 2007. the Insurance Act. 1938 and the Regulations or orders / directions issued by IRDA in this behalf. on the basis of examination of books and records of the Company and according to the information and . and • The Balance Sheet. the Shareholders’ Profit and Loss Account and the Receipts and Payments Account together with the notes thereon and attached thereto are prepared in accordance with the requirements of the Regulations. 1938. and (iv) in the case of the Receipts and Payments Account. In our opinion and to the best of our information and according to the explanations given to us. the Policyholders’ Revenue Account. we further report that: • Investments have been valued in accordance with the provisions of the Insurance Act. of the loss for the year ended 31 March 2007. 1999 and the Companies Act. (ii) in the case of the Policyholders’ Revenue Account. of the surplus for the year ended 31 March 2007. (iii) in the case of the Shareholders’ Profit and Loss Account.Director of the Company is disqualified as on 31 March 2007 from being appointed as Director under clause (g) of sub section (1) of Section 274 to the Companies Act.

to the extent considered necessary. Annexure to the Auditors Report (Referred to in the Auditors’ Report to the members of Bajaj Allianz Life Insurance Company Limited (‘the Company’) on the accounts for the year ended 31 March 2007) To the Members of Bajaj Allianz Life Insurance Company Limited Based on the information and explanations given to us and to the best of our knowledge and belief. we certify that: • We have verified the cash balances. and there is no apparent mistake or material inconsistencies with the financial statements. none of the Company’s assets involve reversion or life interests. nothing has come to our attention which causes us to believe that the Company has not complied with the terms and conditions of registration as per subsection 4 of section 3 of the Insurance Act. 1938. management’s representations made to us and the compliance certificate submitted to the Board by the officers of the Company charged with compliance and the same being noted by the Board. and • No part of the assets of the policyholders’ funds has been directly or indirectly applied in contravention to the provisions of the Insurance Act. as the case may be. 1938 relating to the application and investments of the policyholders funds. • The Company is not the trustee of any trust.explanations given to us and to the best of our knowledge and belief. At 31st March 2007. securities relating to the Company’s loans and investments by actual inspection or on the basis of certificates / confirmations received from custodians and / or Depository Participants appointed by the Company. Auditor’s Certificate . we certify that: • We have reviewed the management report attached to the financial statements for the year ended 31st March 2007. and • Based on information and explanations received during the normal course of our audit.

851 676. BATLIBOI & CO. 31787 Partner Membership No. Capital Raise d During Th e Yea r (Amount In Rs.R. Registration Details Registration 15959 Balance 31 Date Shee t Date 03 Month 2007 Year No.• This certificate is issued to comply with the requirements of Schedule ‘C’ of Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor’s Report of Insurance Companies) Regulations 2002 (‘the Accounting Regulations’) read with Regulation 3 of the Accounting Regulations and may not be suitable for any other purpose. Sta e t Code 11 Ii. 42650 Balance Shee t Abstrac t And Company’s General Business Profile I.851 .31. KIRTANE & PANDIT Chartered Accountants S. ’000) Public Issue Rights Issue Bonus Issue Private Placement - 1342 Iii. ’000) Total Liabelities Total Assets 676.31. Chartered Accountants Suhas Deshpande per Hemal Shah 11th May 2007 Pune Partner Membership No. Position Of Mobilisation And Deployment Of Funds (Amount In Rs.

680 Secured Loans 5.033) Earning Per Share Dividend Rate (%) (4.129 18.455.501.77) - NOTE :. ’000) Turnover Total Expenditure Profit And Loss Before Tax Profit And Loss After Tax (717.630 Vi.138.600 Unsecured Loans Policyholders Funds Others 60.503. . Performance Of Company (Amount In Rs.480 V Application Of Funds (Amount In Rs. ’000) Paid Up Capital Reserve And Surplus 1.760. ’000) Nett Fixed Assets 85 Investments 535.IV Source Of Funds (Amount In Rs.694 Nett Current Assets 67.006) Accumulated Profits (717.659 Miscellaneous Expenditure 3.626.261 Accumulated Loss Others 2.Being A Life Insurance Company There Is No Turnover .

Bajaj Allianz Life Insurance Company boasts of a nationwide presence with 876 offices and over 4 million satisfied customers. Bajaj is the biggest two and three wheeler manufacturer in the world. Ltd Bajaj Allianz Life Insurance Co Ltd is a unique joint venture among the global giants Allianz Group (AG) and Bajaj Auto.Product Specification of Bajaj Allianz Life Insurance Co. The various insurance products include Individuals Plans         Unit Gain Insurances Term Care Plans Lifetime Care Insurance Policy Business Insurance Policies Savings And Security Policies For You And Your Family Rural Insurance Plan Healthcare Insurance Financial Insurance . Allianz AG's world ranking establishes it among the top insurance companies in the world.

Sam Ghosh. The name change coupled with aggressive strategic market initiatives to reach and service customers better will give us an unbeatable position in the insurance market in this country and both Life & General companies together can unleash the 'Power of One' and be the leader in the insurance industry. today announced that it has changed its corporate name to Bajaj Allianz Life Insurance Co.Employee Groups Employees Deposit Linked Insurance New Group Superannuation Scheme New Group Gratuity Care Scheme Investgain Endowment Plan Cashgain Money Back Plan Childgain Kids Special Plan Swarna Vishranthi Group Insurance Schemes      Special Insurance Policies for NRI's     Allianz Bajaj Changes Its Name To Bajaj Allianz Life Insurance Mumbai. Country Manager. prospective customers and other stakeholders indicated higher comfort level and ease of recalling Bajaj name first and then Allianz. 2004: Allianz Bajaj Life Insurance Co. Allianz & CEO. The change in company name comes in conjunction with research findings from existing customers. Gross Written Premium (GWP) in the first 100 days of this . Ltd & Bajaj Allianz Life Insurance Co. 2004.    Pension Plus Retirement Plans Children's Policies Endowment Plans and many more. August 03. The new logo incorporates the new Bajaj Auto logo.. business associates. effective from August 03. and hence the name Bajaj Allianz. Insurance For Employee-Employer Groups Insurance For Non-Employer . Ltd.. "We are not only acquiring a new name. but have put in motion a new level of energy and commitment to delivering the best products. Ltd. Bajaj Allianz General Insurance Co. new life & non-life group products which has helped Bajaj Allianz (formerly known as Allianz Bajaj) to log in Rs. Ltd. the fastest growing private life insurance co." Bajaj Allianz Life insurance recently launched over 100 satellite branches. will now have a common logo and branding which will help in increasing our visibility and familiarity which will create a much larger awareness and a greater mindshare. 100 Cr. Commenting on this occasion Mr. Bajaj Allianz Life insurance said.

Child Gain (Children's plan). Its products include InvestGain (a unique life insurance plan where sustenance of income is combined in the same plan that also pays a lump sum). Bajaj Allianz has also forged strong Bancassurance and Corporate Agency relationships and continues to build on new tie-ups for fast track growth and deep market penetration.000 agents. Currently Bajaj Allianz Life Insurance has a product portfolio of 18 products and more need-based products are in the pipeline. Bajaj Allianz Life Insurance has launched a slew of need-based products to cater to each varied needs of the customer.financial year and has leaped to 3rd position as per IRDA figures ending June 04. Term Care (term with return of premium). Risk Care (Pure Term). Lifetime Care (whole life). Bajaj Allianz Life Insurance has a wide pan India presence of office network in 156 cities of the country and is aided with a strong and trained Agency network of over 27. Research Methodolgy Meaning :Research is a common term refers to a search for knowledge .It is a scientific & Systmatic Search for specific information on a Spcific topic Infact research is an art of scientific investigation Research is also a academic activity & as search .The term should be usd in a technical sense. Bajaj Allianz Life Insurance is poised for an accelerated growth in the market and has already become the fastest growing private life insurance company in India. Definition of Research :- new Knowledge. UnitGain (Unit Linked Whole of Life Plan) and UnitGain Single Premium. efficiency and professionalism to impart state of the art servicing to the customers across the length and breadth of the country About Bajaj Allianz Life Insurance: Bajaj Allianz Life Insurance Company has developed insurance solutions that cater to every segment and age-income profiles. from its 7th position at the end of last financial year. Protector (Mortgage term insurance plan). oranising & evaluating data & making deduction & reaching the conclusion to determine another they feed the Formulating hypothesis. to infuse greater thrust. Swarna Vishranti (Retirement Plan).” According to ‘Mary’ “ Research is a systematic efforts to gain Objectives of Reaserch :1. Research includes defining & redefining problem Formulating hypothesis or suggested solution Collecting. Cash Gain (Money Back). Bajaj Allianz Life Insurance has also brought in key executives. To gain Familarly with a phenomenon or to achieve new insight into it ( Formulative research) . new ideas.

A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement. Key part of the general corporate strategy 1. marketing strategy is closely linked with sales. our organization will sell additional. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy. and competitors in the market arena. Once our organization. To test a Hypothesis of a cadual relationship beteen variable ( Hypothesis testing research ). Elements of Marketing Strategies :A marketing strategy is most effective when it is an integral component of corporate strategy. via our low cost product. 4. has established a relationship with consumers.2. Sectorial tactics and actions :A publishing strategy can serve as the foundation of a marketing plan. For example: "Use a low cost product to attract consumers. To determine the Frequency with which something accuse or wih which it is associatedwith something else. corporate missions. To test accurately the feature or a Particular individual situation or a group. defining how the organization will successfully engage customers. 3. and corporate goals. It is partially derived from broader corporate strategies. As the customer constitutes the source of a company's revenue. prospects. .

Each group is expected to take that strategy goal and develop a set of tactics to achieve that goal. Marketing strategies are dynamic and interactive. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives[3]. channel marketing. internet marketing. This is why it is important to make each strategy goal measurable.higher-margin products and services that enhance the consumer's interaction with the low-cost product or service. promotion and public relations can be orchestrated. There are a number of ways of categorizing these generic strategies. A marketing strategy often integrates an organization's marketing goals." A strategy consists of a well thought out series of tactics to make a marketing plan more effective. A brief description of the most common categorizing schemes is presented below: Strategies based on market dominance . which might include advertising. by creating strategy tactics that then become strategy goals for the next level or group. ♦ ♦ ♦ Cost leadership Product differentiation Market segmentation . and action sequences (tactics) into a cohesive whole. See strategy dynamics. policies. Similarly. Plans and objectives are generally tested for measurable results. Many companies cascade a strategy throughout an organization. firms are classified based on their market share or dominance of an industry. They are partially planned and partially unplanned.In this scheme. Strategic scope refers to the market penetration while strategic strength refers to the firm’s sustainable competitive advantage. but can be reduced into a generic marketing strategy. Typically there are three types of market dominance strategies: ♦ Leader ♦ Challenger ♦ Follower Porter generic strategies :– strategy on the dimensions of strategic scope and strategic strength. the various strands of the strategy . Types of strategies :Every marketing strategy is unique.

6. 3. 5. There are three types: 1. It asks whether the company is on the cutting edge of technology and business innovation. 7. Growth strategies – In this scheme we ask the question. Strategic Models :- . 4. Pioneers Close followers Late followers 2. 2. “How should the firm grow?”.Innovation strategies :– This deals with the firm's rate of the new product development and business model innovation. There are a number of different ways of answering that question. but the most common gives four answers: ♦ ♦ ♦ ♦ ♦ ♦ ♦ ♦ Horizontal integration Vertical integration Diversification Intensification Prospector Analyzer Defender Reactor A more detailed scheme uses the categories: Marketing warfare strategies :– This scheme draws parallels between marketing strategies and military strategies. 3.

will be the output of the creative minds employed. for example.not relevant. there is little evidence to show that this new-found belief has led to positive action. a company may have just days to react . the position is further constrained by the available resources. without easy reference to theory. Beyond this. which management will then screen. Thus. When beginning a strategic analysis. Course Marketing :The marketer. in an environment of imperfect information and limited resources complicated by uncertainty and tight timescales. often by 'gutreaction'.where research may take months. In particular. or 'gut-reaction'. situations being faced. An Ansoff Matrix is also often used to convey an organization's strategic positioning of their marketing mix.Marketing participants often employ strategic models and tools to analyze marketing decisions. research has indicated that the outstanding problems facing marketers lie in the use of specific functions. does not face each decision with a copy of a text-book in his or her hand . The 4Ps can then be utilized to form a marketing plan to pursue a defined strategy. there is little evidence that marketing practice (as opposed to the theory) has been widely embraced.ready to work through the various lessons. to ensure that it is reasonable. Use of classical marketing techniques. promotional budgets are small (and spent more on sales promotion than advertising or PR). The design of the advertising. marketing managers use intuition and experience to analyze and handle the complex. Unfortunately. theory always says that the first step is marketing research. and the packaging. For instance. Marketing Practice :In practice. is inevitably partial and uneven. which will immediately limit the range of relevant factors. Indeed. in real life. Most senior managements have committed to the philosophy. and unique. but if a competitor has just made a major change in strategy. pricing is largely on a costplus or competitive basis. dealing with a limited number of factors. and marketing research is almost all second-hand. as opposed to theory. even though their junior managers may be cynical about the degree of that commitment. Real-life marketing primarily revolves around the application of a great deal of common-sense. The marketer starts with a quite specific environment. where . For most of their time. the 3Cs can be employed to get a broad understanding of the strategic environment. This will often be 'flying by the seat of the pants'. 'place' is . new products will emerge from irrational processes and the rational development process may be used (if at all) to screen out the worst nonrunners. To the perceptive marketer the range of options to be explored is usually obvious. in these circumstances.in any case .

celebrities. when. consumers did not immediately increase their consumption of high-fiber cereals. aesthetically pleasing. supported by scientific studies. Their goal is to persuade consumers to buy a particular brand or product. However. and whom consumers perceive as a credible source of information. This." Marketers use an assortment of strategies to guide how. have influenced consumers to decrease consumption of foods high . targets and goals. pricing.the overall strategy. and where product information is presented to consumers. in the late 1970s scientists announced a possible link between eating a high-fiber diet and a reduced risk of cancer. to distinguish it from the refined. promotion. will determine the quality of the marketing employed. See also :♦ ♦ Business model Customer engagement References :♦ ^ UK govt businesslink marketing strategy guide. For example. Successful marketing strategies create a desire for a product. is what is sometimes called 'coarse marketing'. almost instinctive management. Impact and Influence :Marketing strategies directly impact food purchasing and eating habits. In addition. Some marketing strategies use fictional characters. View More Summaries on Marketing strategy Marketing Strategies Elements of Marketing Mix Or Variables Of Marketing : The American Marketing Association defines marketing as "the process of planning and executing the conception. and by 1987 approximately 2 million households had begun eating high-fiber cereal. But in 1984 advertisements claiming a relationship between high-fiber diets and protection against cancer appeared. goods. other health claims. form favored by the theorists. therefore. ♦ ^ Marketing strategy Australian administration small business guide. A marketer. needs to understand consumer likes and dislikes. or experts (such as doctors) to sell products. marketers must know what information will convince consumers to buy their product. and distribution of ideas. coupled with the knowledge of the customer which has been absorbed almost by a process of osmosis. and services to create exchanges that satisfy individual and organizational objectives. Since then. ♦ ^ Marketing basics Marketing strategy based on market needs. while other strategies use specific statements or "health claims" that state the benefits of using a particular product or eating a particular food.

skim milk. [Photograph by Tim Clary. Inappropriate Advertisements :Attempts to sell large quantities of products sometimes cause advertisers to make claims that are not entirely factual. For instance. and vice versa. AP/Wide World Photos. Deceptive advertising has also been employed to persuade women to change their infant feeding practices. marketing strategies aimed at children and adolescents have increased. Marketing strategies include One strategy used by advertisers is to feature a celebrity in their advertisements or on their packaging.S. portrayed by Willard Scott. and. Advertisers commonly urge mothers to use infant formula to supplement breast milk.in saturated fat and to increase consumption of fruits. poultry. In addition.] support. jingles. Currently. and well-known characters to promote products. about one-fourth of all television commercials are related to food. and approximately one-half of these are selling snacks and other foods low in nutritional value. Many of the commercials aimed at children and adolescents use catchy music. and not all health claims are truthful. is the most recognizable figure next to Santa Claus. Ronald McDonald first appeared on T. they are more likely to choose unhealthful foods over nutritious alternatives. The impact of these strategies is illustrated by studies showing that when a majority of television commercials that children view are for high-sugar foods. and recommended that this information be included in advertisements. Department of Agriculture supported complaints made by the Physicians Committee for Responsible Medicine that the "Got Milk" advertisements contained untruthful health claims that suggested that milk consumption improved sports performance. since these claims lacked scientific Companies often use characters to appeal to young consumers. The clown is known worldwide. In July 2000 a panel of experts from the U. The tremendous spending power and influence of children on parental purchases has attracted marketers. an advertisement for a particular brand of bread claimed the bread had fewer calories per slice than its competitors. Reproduced by permission. humor. Of course.V. as a result. the panel agreed with the physicians' claim that whole milk consumption may actually increase the risk of heart disease and prostate cancer. not all marketing campaigns are based on scientific studies. and according to McDonald's. vegetables. and fish. . What the advertisement did not say was that the bread was sliced much thinner than other brands. in 1963.

The implicit message is that the celebrity endorses the product. and may even depend on the product for success. . uses the product.

and infant-formula manufacturing companies have been forced to modify their marketing practices. consumers mistakenly translate a claim of "no fat" into one of "no calories. Often. Consumers are also misled by food comparisons. when in reality neither of the drinks are a good source of the vitamin. women are not aware that supplementing breast milk with formula will reduce or stop their milk supply. in reality. adding additional calories to one's daily caloric intake." without specifically indicating the presence of high levels of salt. labels claiming "no fat" do not necessarily mean zero grams of fat. As a result. a serving of light ice cream contains 50 percent less fat than a serving of regular ice cream. Also. consumers mistakenly believe that eating light food means eating healthful food. one fruit drink may be advertised as containing more vitamin C than another. However. Food labels with conflicting information often confront consumers. Other marketing strategies involve labeling foods as "light. unaware that diluting the formula places their infant at risk for malnutrition. Reproduced by permission.[AP/Wide World Photos. Food labeling standards define low-fat foods as those containing less than 0. women may try to "stretch" the formula by mixing it with water." meaning that one serving contains about 50 percent less fat than the original version (or one-third fewer calories). labels advertising dairy products as high in calcium. labels on some fruit drinks claim that the product "contains real fruit juice" when. For example. Therefore. the fine print reveals that one serving contains "less than 10% fruit juice.] Giving women trial packs or coupons for several months of free formula." In addition. For example. and people are often unaware of what amount of a food constitutes a "serving. and thus offering protection from osteoporosis. consuming several servings may mean consuming one or two grams of fat. Too often. foods low in fat may be high in sugar. or other nutrients." Other examples of conflicting claims include labels advertising foods as "high in fiber. In addition. sugar.5 gram of fat per serving. When the samples and coupons are no longer available." Bibliography ♦ WEBSITES :- . For example. are often missing information relating to the high fat content and its possible contribution to the risk of heart disease. they fail to realize that a serving of the light version of a food such as ice cream can still contain more fat and sugar than is desirable. Many groups have objected to the use of marketing strategies that include free formula and coupons.

Pillai) Marketing Management – (Philip Kotler) ♦ MAGZINES:Economic Times ♦ NEWSPAPER:The Times Of India .com/ ♦ BOOKS :Modern Marketing – (R.S.http://www.birlasun.N.

Technological Capability in the Third World. “ Lucas-TVS: A Journey towards Manufacturing Excellence”. Kannan Sethuraman and Devanath Tirupati. Ludvico.13 (2). “ Flexible Governance for mass production goals: economic governance in the Indian automobile industry”. pg 2. Reference Document 8. D’Costa A. 5. “MOVING UP THE VALUE CHAIN”. Industrial Organization and Comparative Advantages of Latin American Metalworking Industries". Business World. 10. pg 26 6. 2004. Business Standard.P. Volume 25(2). Business Line. 2004. London (1984). Scale and Scope and Location of Production in Developing Countries" INTECH Discussion paper Series #9502. " New Technologies. "Technological Innovation. SCL. Brakes India. 21 February 2004. “INDO-THAI FREE TRADE PACT: `THAI IMPORTS MAY HIT AUTO COMPONENT COS' (ICRA study finds Indian companies could suffer 15-20% percent cost disadvantage)” Feb 4. May 1998. ___________" Flexible Automation and Location of Production in Developing countries". Industrial and Corporate Change. “Indian Auto component sector: Outlook “. 3. 9. (Ed. Rane Brake linings). Vol. Vikalpa. Alcorta. INTECH Discussion paper series # 9805.References 1. 2. Balance sheets (SFL. pp:335-367.) Martin Fransman and Kenneth King. 2nd TPM National Conference. CII. 2004. Macmillan. March 1995. . 20022003. Feb 23. April-June 2000. 7. 4.

“Chapmen” “Market includes both place & region in which buyers and sellers are in free copemitition With one another’’ “Pyle” . “The term refers not to a place.Marketing in economic point of view . is defind as xchange Function by maintaining suplly demand in equilibrium it aims at the creation wlfere & standard of living object of markrting. The limit the scope of marketing to more transfer of ownership. but to a commodity & buyer and sellers who r indirect competition with one another”.DEFINITION OF MARKETING Marketing in it’s earlir definition & in lgal aspect is said to effort by which the transfer ownership in Goods between the seller & buyer is effected.

time & possession utilities.and possession utility.when they are transferred to those who need them.when thry are needed. The multidimensional devt in the information technologies. Where the problem of inefficiency is found at an alarming stage.Marketing is defind as different ways. . To understood it may be explained in brief as Marketing what marketer does but thin meaninig lacks clarify in understanding the subject evolution of Marketing is old as Himalyas it is one of the oldest profession of the world. A new definitions of notable authorities are given below.Marketing is a coprensive term.activaTed & enterged by the developed countries.time utility. There is no single answer to the qution of what is marketing.” “Marketing is the process of discovering and translating consumer needs and wants into product and service specification. The development of maketing is evolutionary rather than revolutionary..GENERAL INFORMATION OF MARKETING ♦ Introduction ♦ Meaning ♦ Definition Introduction :In marketing 21st century. Place they are needed. Marketing is indeed an ancient ant it has been practiced in one form. The intensity of copmpetition is found moving upward marketing problem of number organization.. We cannot find a single answer. the business environmetal conditions are likely to be more volatile. “Marketing includes all activities involves in the reaction of place.

MEANING OF MARKETING The word ‘ market’ is defined from latin word ‘Maracatus’ meaning ‘merchandise’Where traffic. Marketing in its earlier definition and in legal aspect is said to be the effort by which the transfer of ownership in goods betweenthe seller & buyer is effecred emphasis ownership transfer. The aim marketing is to make sales in order to earn reasonable profit for the producer . growth and development . Some are very broad. As any other subject. Marketing has been defined differently by authorities in different ways.intended to satisfy human needs or wants. the consumer desire or seeks wants become demands when backed by purchasing power. A need is anything the consumer freels to keep himself Alive & healty. The traditional objectives of marketing had been to make the goods at places where they are needed. is defined as exchange funtion by maintaining supply and demand in equilibrium .others emphasise on the modern that want. Some emphasis on the traditional view of producing goods and finding out custmers . i. in economic point of view .e marketing is a human activity at satisfying needs & wants. The essense of marketing is an exchange or a transaction.trade or a place where business is conducted. it has its own. Marketing . Let us briefly trace the evolution of marketing.” Different author tried to give suitable definition from their view point. the essence of marketing is an example of transaction intended to satisfy human needs or works. . others rathers to narrow.In it’s strict meaning market need not necessary mean a ‘place of exchange’ Marketing is indeed an ancient art. Marleting is human activilty directed at satisfying needs and wants. Common usage of market means a place where goods areBought or sold. through and exchange process & A demand is want for which consumer is prepared to pay a price.This idea was later on changed by shifting the emphasis from ‘exchange’ to “satisfication of human wants.

e. All the values are brought to real terms with 1993 as the base year through appropriate CPI and WPI deflators. this bias makes our forth-coming results stronger. the following variables we need the value of output. capital and investments have been collected in real Indian Rupees. In fact. There has been considerable discussion on which is the most appropriate measure. For estimation of the production function. Custmer Satisfication Survey . and the other measure is gross output. There are two types of output measures that can be used to calculate TFP growth. The other inputs such as labor. value-added output. One is value-added output.Method of collection Data: primary source of data :Is the Prowess database provided by the Centre for Monitoring Indian Economy. labor and capital inputs. which is the gross output corrected for purchases of intermediate inputs. Here we use the former i. We recognize the fact that TFP growth based on the value-added measure is greater than that based on the gross output measure due to the upward bias created by the omission of intermediate goods and services. We use the WPI for motor vehicle parts to deflate the values of output and the WPI for Manufacturing Industry to deflate the values of capital and investment.(check this sentence). 1.

and society as a whole. attitudes and values. All the business activities should be carried out in ways which are directed towards the satisfaction of the consumer needs. . friends. The combinationof these factors help the consumer in decision making further Psychological factors that as individual consumer needs. personality characteristics. colleagues. age. marketing success an enterprise depends as its ability to create a community of satisfied consumers. perceptions attitudes. gender. Therefore. Consumer behavior is affected by a host of variables ranging from personal. motivations. The essence of modern marketing lies in building of profit along with creating meaningful value satisfaction for the costumers.The marketing concept is consumer oriented and the emphasis is more on the consumer rather than on the product. the learning process personality characteristics are the similarities. whose needs and desires have to be coordinated with the set of products and production programmes. professional needs. which operate across the different types of people and influence their behavior. professional status to social influences of various kinds exerted a family. social economic and cultural background.

Cultural factors 2. Psychological factors So a study had been conducted on “ Consumer Behaviour Towards FOOD PRODUCTION’S ” in the twin cities i. Personal factors 4. 1.e.There are four major factors which influences on the buying behavior of consumer. Guwahati and Nagpur with a sample of 100 consumers by selecting haldiram’s product and sweets had been collected through structured questionnaire. . Social factors 3.

Cultural is a learned through the following three ways:1. colleagues. through his .Cultural factors :Consumer behavior cultural can be defined as the some total of learned belief. the growing child acquires a set of values. perceptions attitudes.Technical learning. The combination of these factors help the consumer in decision making further Psychological factors that as individual consumer needs. preferences and behavior. friends. attitudes and values. professional status to social influences of various kinds exerted a family. professional needs. and society as a whole.MAJOR FACTOR INFLUENCING BUYING BEHAVIOR : Consumer behavior is affected by a host of variables ranging from personal. Cultural is a most fundamental determinant person’s wants and behavior. which operate across the 1. personality characteristics. gender. social economic and cultural background. Formal learning 2. Informal learning 3. motivations. the learning process personality characteristics are the similarities. values and customs that serve to guide and direct the consumer behavior of all members of that society. age. perceptions.

family and key institutions. .

Social factors :Consumer behavior is also influenced by such social factors as reference groups. . It is useful for the marketer who can identify whatgeneric level need this brand is capable fulfilling and accordinglyposition his brand up with relevant marketing inputs. lifestyle and personality and self-concept. Brands such asfood and clothes are bought to fulfill psychological needs. 4 Osmania Journal of Management Consumer Behavior is Product-Person-Situation-Specific. family and social roles and status. PSYCHOLOGICAL FACTORS :- ‘Abraham Mallows’ needs can be ranked in order of importance from the low biological needs to the higher levels of psychological needs.PERSONAL FACTORS :Buyer’s decisions are also influenced by personal characteristics. 3. the buyers’ age. occupation. 4. life cycle stages. MASLOW’S hierarchy of human needs make us understand consumermotivation.2. economic circumstances.

gastrostomy .2. The rate of postoperative GER. Methods: Decision analysis was used to evaluate the effect of a protective antireflux procedure on morbidity and mortality in NI children. The purpose of this study was to determine the role of protective antireflux procedures in NI children undergoing gastrostomy tube placement. gastroesophageal reflux (GER) can become apparent in neurologically impaired (NI) children after gastrostomy tube placement.com. need for secondary antireflux procedures. andmorbidity and mortality rates after gastrostomy tube placement without an antireflux procedure in NI children were estimated from the literature and expert opinion and used to construct decision trees.Elsevier imprints. and ophsource.Patient Research Background/Purpose: Despite normal clinical history and preoperative radiologic and pH studies. Results: At baseline values.History Analysis :Preferred Websites Article via ScienceDirect Article via Elsevier Health Sciences . An antireflux procedure performed at the time of gastrostomy tube placement may prevent postoperative GER and help avoid the need for a subsequent surgical procedure but is associated with a high morbidity and mortality rate in NI children.org Article via Elsevier's Beta Program . theclinics.

. Conclusions: Although a protective antireflux procedure may reduce the need for additional surgery. One-way sensitivity analysis showed that gastrostomy tube placement was the favored approach when the morbidity of gastrostomy tube placement was less than 11% or the morbidity of antireflux surgery was greater than 10%. no threshold value of any variable was found that favored the use of a protective antireflux procedure with respect to mortality. gastrostomy tube placement resulted in a lower mortality rate (0. inclusion of this procedure is associated with a higher morbidity and mortality rate. Initial placement of a gastrostomy tube without a protective antireflux procedure is the favored approach for NI children without preoperative evidence of GER.3% v 0.8%) than gastrostomy tube placement with a protective antireflux procedure. Using 1-way sensitivity analysis.tube placement resulted in a lower morbidity (11% v 13%) than gastrostomy tube placement with a protective antireflux procedure. At baseline values.

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Vibration . When the two vibration frequencies are the same. in isometric conditions and without sight of the stimulated arm. there is either no sensation of movement. Furthermore. The studies show that the velocity and the amplitude of the ilusory movement is related to the difference in vibration frequency applied to the two muscles. This interpretation may also be valid for the results obtained earlier by vibration of a single muscle. The sensations felt by the subjects were reproduced by the nonvibrated arm and recorded by a goniometer. Key words Kinesthesia . measured by surface EMG. The direction of movement felt (flexion or extension) is that produced by shortening of the muscle being vibrated at the lower frequency.3.Perception & Survey Summary Perceptual and insurance effects of vibration applied simultaneously to the distal tendons of the Biceps and Triceps muscles. have been studied in human volunteers. insurance effects. it is coherent with data on spindle afferent fibres obtained by microneurography in man during passive or active movements. EMG activity appears in the muscle being vibrated at the lower frequency when simultaneous vibration is applied at different frequencies.EMG This work was supported by grants from the Ministère de l'Industrie et de la Recherche . or a sensation of very slow movement. However.Muscle afferents . are inexistent when the flexor and extensor muscles are simultaneously vibrated at the same frequency. These results support the notion that the sensation of movement at a joint may be derived from a central processing of the proprioceptive inflow data obtained from flexor and extensor muscles.

McCloskey DI (1973) Position sense following surgical replacement of joint in man. J Physiol (Lond) 261: 695–711 Capaday C. Hagbarth KE.References :Burgess PR. Latash ML (1982b) Interaction of afferent and efferent signals underlying joint position sense: empirical and .M. interpretation of kinaesthetic illusions. Biol Cybern 42: 205–214 Feldman AG. Brain Res 55: 443–445 Eklund G. Löfstedt L. Löfstedt L. Clark FJ (1969) Characteristics of knee joint receptors in the cat. activity in humans. Electroenceph Clin Neurophysiol 19: 619 Eklund G (1972) Position sense and state of contraction: the effects of vibration. Wallin BG (1976b) The responses of human muscle spindle endings to vibration during isometric contraction. J Physiol (Lond) 203: 301–317 Burke D. Latash ML (1982a) Afferent and efferent components of joint position sense. J Physiol (Lond) 261: 673–693 Burke D. Cooke JD (1983) Vibration-induced changes in movement related E.G. Hagbarth KE. Wallin BG (1976a) The responses of human muscle spindle endings to vibration of non contracting muscles. Hagbarth KE (1965) Motor effects of vibratory muscle stimuli in man. Exp Brain Res 52: 139–146 Cross MJ. J Neurol Neurosurg Psychiat 35: 606–611 Feldman AG.

A considerable number of respondents opined that there is a need to increasing the production and selling of th product’s .SUGGESTIONS & CONCLUSION :After analyzing the findings.so their supply has to be drastically improved so as to meet the demand of the customer. thefollowing suggestions have beenprepared. There is a heavy demand for Birla Sun Life Insurance in the market. 1. 2. . Great care has been takenin making these suggestions for theimprovement of consumers opinion. Some of the respondents are suggested to improve quality of the product’s 3.

R. 2.Best. K.A. New York.. Illinois. Business Publications.H. analysis. Prentice Hall of India Publishing. Karsarjian H.S. 3. 2001. Prentice Hall of India Pvt. Perspectives in Consumer Behaviour. Jagdish N. Consumer Behaviour.. New Delhi 2001. planning implementation and control. The Theory of Buyers Behaviour. John Wiley and Sons Inc. 2001. and Robertson T. New Delhi... Kotler Philip. Consumer Behaviour : Implications for Marketing Strategy. (Rev.. Marketing Management. Hawkins D. Inc. Schiffman G.I. and Convey. . SCOH Forman & Company.REFERENCES: 1. and Sheth. 2000.2002. Texas. Howard John H.ed). Ltd.Leon. 4.J.

This year. . it has launched six products. Birla Sun Life Insurance registered a growth of 36 per cent in new business premium at Rs 953 crore in 2006-07. The company would introduce new pension. said the focus of the company this year would be on growth. 40% CAGR Mr Mehmi said there was a slowdown last year as there were some delays in launching new products. In the past six months. however. we plan on growing faster or at least in line with the industry. health and microinsurance plans this year. President and CEO." he said. Mr Vikram Mehmi. "Break even is not as important as increasing the value of our business. The company plans to double its agency force from 50. This was. he said. Birla Sun Life.000 to 1 lakh.Birla Sun aims at higher growth Mumbai June 13 Birla Sun Life Insurance will take another three years to break even. much lower than the life insurance industry's growth of 110 per cent in the recently concluded fiscal. though break even is three years away. The insurance industry was expected to grow at a compounded annual growth rate of 40 per cent in the next few years and that the company's growth would be in tandem with this.

Birla said. It offers the choice of seven fund options.It has a capital base of Rs 672 crore. .000. The minimum annual premium for this particular policy is Rs 10. The R2 formalities have been completed and the company expects to receive R3 clearnace from IRDA shortly. Aditya Birla group. "The insurance sector. one of which involves a maximum investment of 100 per cent in equity. on Monday. we have aligned with one of the best companies-the Sun Life financial group. The plan offers the convenience of paying for a limited period of three years as well as the flexibility to reduce the premium from the second policy year. chairman. Our vision is to be among the top five insurance companies in India and in this regard. which is a knowledge based industry is to be one of our core business. Birla Sun Life insurance venture unveiled Kumarmangalam Birla.Gold Plus Plan". New product The company on Wednesday launched a new product called "Birla Sun Life Insurance . The premium allocation charge is 8 per cent. Mr Mehmi said that more capital would be infused as per the requirements. announced the Birla Sun Life Insurance Company. Briefing mediapersons.a joint venture between Aditya Birla Group and Sun Life Financial Services of USA.

this venture will definitely create value for our three lakh shareholders." He informed the gathering that the current funding for the insurance business "in no way affects Indian Rayon's existing cap".The total 12 directors have been nominated consisting of six directors each from Aditya Birla group and Birla Sun Life insurance company. which our insurance business will leverage. shareholders and distributors are a great advantage. Kumarmanagalam Birla continues as a director on the board. integrity and customer focus. Meanwhile. the company said. with Indian Rayon and Birla Global Finance Ltd having a stake of 69 per cent and 5 per cent respectively. as a new director of Birla Sun Life insurance. takes over as the chairman of the Birla Sun Life insurance board of directors. mutual respect. Don Steward also stated that in the first phase Birla Sun Life insurance would be concentrating on setting up fully networked branches in Bombay on Tuesday and in Delhi on January 31. He also said that the new team for the insurance company was declared and that Don Steward. Peter Akers from Sun Life financial services has been named as the CFO and the appointed actuary. Vijay Singh. chairman & CEO of Sun Life financial services." "Our group holding is 74 per cent. Our group's extensive presence in India as well as our network of employees." Birla added. The company is also in the process of enlisting independent directors on its board. "Considering the immense growth potential of the life insurance business. Sun life financial is indeed delighted to be back in India in the insurance sector after almost 40 years. We have a receptive population of over a million stakeholders.The partnership is based on values. About 1000 branches are expected to be set up across the country by December-end 2001. while Sun Life financial holds 26 per cent.The current capitalisation of this venture stands at Rs 120 crore. .

. dedicated call centers to service customers across the nation and a customer website will enable a 24 x 7 contract.By mid-February. It has evolved from a single mutual life insurance company into one of the most highly rated insurance and wealth management institutions in the world. Philippines. Fitch and AM Best amongst others. its existing presence in a wider range of financial services and Sun Life financial's global expertise in areas of protection and wealth management. the first batch of 150 insurance advisors will be in place and ready to enter the market. Birla Sun life insurance plans to harness the power of the internet to further its business. An area of focus for Birla Sun life insurance is the rural segment. the Indian life insurance seekers will be provided with excellent services and flexible product options. a company official also said that with Aditya Birla group's extensive knowledge of the Indian market. Its multi-channel distribution set up comprises of insurance advisors for life and an expert marketing team for group products. Indonesia and Bermuda. Sun Life financial services has a presence in USA. Hongkong. He further stated that the Sun Life financial group partner in the joint venture has a long history dating back to 1871. Meanwhile. Japan. Steward added. The Sun Life financial services' primary insurance business enjoys excellent ratings with the world's top rating agencies like Standard and Poor. The company will leverage the network of the Aditya Birla center for community initiative and rural development set up in rural areas. Over the next 12 months.

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