SYNOPSIS

1. TITLE OF THE PROJECT: Consumer insurance perspective with a focus on marketing segmentation

2. ORGANISATION/ COMPANY:

The project title is completed at HDFC LIFE in marketing area. HDFC Life Insurance Company Ltd has given me the opportunity to work and get experience in highly competitive and enhancing sector. HDFC Life, one of India's leading private life insurance companies, offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC), India's leading housing finance institution and Standard Life plc, the leading provider of financial services in the United Kingdom. HDFC as on December 31, 2007 holds 72.38 per cent of equity in the joint venture. Vision: 'The most successful and admired life insurance company, which means that we are the most trusted company, the easiest to deal with, offer the best value for money, and set the standards in the industry'. Values: Values that we observe while we work: Integrity Innovation Customer centric People Care "One for all and all for one" Team work Joy and Simplicity

3. INTRODUCTION OF THE TOPIC:

Title:To determine customer insurance perspective with a focus on marketing segmentation for HDFC LIFE. Title Justification: The above title is self explanatory. The study deals mainly with studying the buying pattern in the insurance industry with a special focus on HDFC LIFE INSURANCE. The various segments of the markets divide in terms of Insurance Needs, Age groups, Satisfaction levels etc will also studied.

4. OBJECTIVE AND SCOPE: Objective: To determine reasons behind opting for an insurance. To provide the company with information of customers Insurance policy if they have any and reasons for opting for that particular policies. To know the most preferred policy in the insurance industry

Significance to the industry: This is a limited study which takes into consideration the responses of 100 people. This data can be explorated to take in the trends across the industry. The significance for the industry lies in studying these trends that emerge from the study. It is a rapidly changing and evolving sector. People are only beginning to wake up to its vast possibilities. A study like this can attempt to guide the future of the industry based on current trends. Significance for the researcher: To facilitate and provide all the useful information of the company, the insurance industry and also provide marketing ways, methods of HDFC LIFE insurance.

5. RESEARCH METHODOLOGY: Research Methodology Used: The descriptive methodology used to describe the problem. Secondary data has been used through different sources. This study is required the data from different sources and where as some part of the project is based on primary research. Analytical Tools and Graphics used: The graphic used is chart and bar diagram for the presentation of data. The percentile technique has been used to analyses the data. Since percentile technique is easy to understand it clarify the analyze. Sampling Methodology: Sampling Technique: Initially, a rough draft was prepared keeping in mind the objective of the research. A pilot study was done in order to know the accuracy of the Questionnaire. The final Questionnaire was arrived only after certain important changes were done. Thus the sampling came out to be judgmental and convenient. Sampling Unit: The respondents who were asked to fill out questionnaires are the sampling units. These comprise of employees of MNCs, Government employees, Self employed etc. Sampling Size: The sample size was only 100, which comprised of mainly peoples from different regions of Delhi. Sampling Area: The area of the research was Delhi.

Limitation of the research: The research is confined to a certain parts of Delhi and does not necessarily shows a pattern applicable to all of country. A small number of 100 also do not show the pattern of the whole city.

Some respondents were reluctant to divulge personal information which can affect the validity of all responses.

6. EXPECTED OUTCOMES: As seen from the survey that at present 70% of the customer are having insurance policy out of which 87.5% of the customer are planning for new investments. So it can be a good potential for the company and they should make an attempt to trap these customers. 43% of the customer even ready to go for insurance if a service provider away from their home is providing it. But intend they should provide good products and services. The company should try to convince these customers and get them in its favour.

Our exhaustive research in the field of Life Insurance threw up some interesting trends which can be seen in the analysis. A general impression that we gathered during Data collection was the immense awareness and knowledge among people about various companies and their insurance products. People are beginning to look beyond LIC for their insurance needs and are willing to trust private players with their hard earned money.

7. BIBLIOGRAPHY: Websites reffered: WWW.CIFAINSURANCE.COM WWW.MONEYOUTLOOK.COM WWW.INSURANCE.IND.COM WWW.HDFCLIFE.COM