I have tried to make this project report titled A STUDY OF INSURANCE PRODUCT AND INSURANCE MARKET successfully and have provided the accurate information to the best of my knowledge. The data collected is primary authentic and is evaluated by myself. This information is collected through personal interview and questionnaire with different retailers and consumers and other reliable resources. I hereby declare that I have put in my best to make this project come up to the expectation. The project is a result of my own efforts. SHRADDHA JHARIYA




A cknowledgement
It is a great privilege and honor to have an opportunity of doing project with BAJAJ ALLIANZ LIFE INSURANCE CO.LTD. PUNE, at the outset, I would like to thank MR.MANDAR VAIDYA(Addl. Div.Manager in bajaj allianz, pune), who gave me an opportunity to do my project for providing golden opportunity of undergoing in their esteem organization and for proving me all kind of facilities guidance and inspiration in making this project successful. I am indebted to Bajaj Allianz’s retailers and consumers whom I surveyed. I feel great pleasure in submitting this project to MAEER’S MIT SCHOOL OF TELECOM AND MANAGEMENT STUDIES(MITSOT) PUNE.





1.1 What is Insurance?
A contract (policy) in which an individual or entity receives financial protection, or reimbursement, against losses from an insurance company, which pools client's risks to make payments more affordable, in exchange for a premium.

1.2 Brief history of Insurance
The business of insurance started with marine business. Traders, who used to gather in the Lloyd’s coffee house in London, agreed to share the losses to their goods while being carried by ships. The losses used to occur because of pirates who robbed on the high seas or because of bad weather spoiling the goods or sinking the ship. The first insurance policy was issued in 1583 in England. In India, insurance began in 1870 with life insurance being transacted by an English company, the European and the Albert. The first Indian insurance company was the Bombay Mutual Assurance Society Ltd, formed in 1870. This was followed by the Oriental Life Assurance Co. in 1874, the Bharat in 1986 and the Empire of India in 1897. Later, the Hindustan Cooperative was formed in Calcutta, the United India in Madras, the Bombay Life in Bombay, the National in Calcutta, the New India in Bombay, the Jupiter in Bombay and the Lakshmi in New Delhi. These were all Indian companies, started as a result of the swadeshi movement in the early 1900s. By the year 1956,


when the life insurance business was nationalized and the Life Insurance Corporation of India (LIC) was formed on 1st September 1956, there were 170 companies and 75 provident fund societies transacting life insurance business in India. After the amendments to the relevant laws in 1999, the L.I.C did not have the exclusive privilege of doing life insurance business in India.

1.3 Pension
It can be described as the post-retirement benefit i.e. recurring income received after the person has retired from the work.

Current Status
The takeout of the amendment made to Section 6(o) of the Banking Regulation Act, 1949 is this: the current act does not permit banks to handle insurance products. The proposed change will permit banks to either distribute or to market insurance products. In addition to this, banks will also be allowed entry to the insurance sector through the joint venture route and bank assurance. It is understood that only strong banks with three-year track records will be allowed to enter the business - entry is a strict no-no to the weaker banks. The Insurance Regulatory and Development Authority (IRDA) Bill provides for three levels of players an insurance company, insurance broker and an agent. Banks will work as agents and brokers in this proposed structure. This is an attempt to make the insurance sector more dynamic - this is likely to happen as banks will use their formidable branch network to market and distribute the insurance products. This amendment could also forge alliances in the banking sector. Initial reports indicate that the State Bank of India and Bank of Baroda have expressed interest in entering into joint ventures. ING Barings, who already has a 20% stake in Vysya Bank, plans to broad base its alliance to add on insurance-based activities. This could be a timely move - one that will allow the domestic players to prepare for the competition ahead. It would also bring them on par with international players who are accustomed to operate in a liberalized environment. A closer look at the amendment indicates that it is tantamount to creating stronger public sector monopolies with behemoths like SBI and BOB

entering the fray. It is unlikely that the private sector banks would contemplate entering the business, as they may not have the requisite capital to meet the prescribed capital adequacy for the insurance.

Insurance in India started without any regulation in nineteenth century. It Was a typical story of a colonial era: a few insurance companies dominating the market serving mostly larger urban centers. After the independence, the life insurance company was nationalized in 1956. and then the general insurance business was nationalized in 1972. only in 1999 private insurance companies were allowed back into the business of insurance with a maximum of 26 percent of foreign holding ( World Bank Economic Review 2000 ). The entry of the state bank of India with its proposal of bank assurance brings a new dynamic in the game. On July 14, 2000 Insurance Regulatory and Development Authority bill was passed to protect the interest of the policyholder from private and foreign players. The private insurance joint venture have collected the premium of Rs crore With the investment of just Rs 7000 crore in five year of liberalization. The private insurance players have significantly improving their market share when compared to 50 years old corporation (i.e. LIC). As per the figures compiled by IRDA, the life insurance industry recorded a total premium underwritten of Rs10707.96 crore for the period under review. Of this, private player contributed to Rs 1,019.09 crore , accounting for 10 percent. Life insurance corporation of India (LIC), the public sector giant, continued to lead with a premium collection of Rs 9,688.87 crore , translating into


a market share of 90 percent. In terms of policies and schemes sold, private sector accounted for only 3.77 percent as compared to 96.23 percent share of LIC (The Economics Times,21 March, 2004). The BAJAJ ALLIANZ topped among the private players in terms of premium collection. It recorded a premium of Rs 364.9 crore and a market share of 25 percent, followed by Sun Life with a premium under – written Rs 170 crore and a market share of 15 percent, HDFC Standard with 132.7 crore and Max New York Life with Rs 76.8 crore with a market share of approximately 15 percent each. Unlike their counterpart in the life insurance business, private non-life insurance companies have not yet started addressing the retail market. All is to change in the coming years. Like in the banking sector, non-life insurance companies will soon have no choice but to focus on individual buyers.

Insurance Market In India
By any yardstick, India, with about 200 million middle class households, presents a huge untapped potential for players in the insurance industry. Saturation of markets in many developed economies has made the Indian market even more attractive for global insurance majors. Table 1 reflects the low percentage and per capita penetration of insurance in India compared to other developed and developing countries. With the per capita income in India expected to grow at over 6% for the next 10 years and with improvement in awareness levels, the demand for insurance is expected to grow at an attractive rate in India. An independent consulting company, The Monitor Group has estimated that the life insurance market will grow from Rs.218 billion in 1998 to Rs.1003 billion by 2008 (a compounded annual growth of 16.5%).



Kotak 2.9%

Tata AIG 7.3%

ING Vysya 2.1% MetLife Aviva MNYL 4.5% 1.2% 5.1%

AMP Sanmar 1.5% ICICI Prudential 31.8%

HDFC Std. Life 7.7% SBI Life 10.2% Bajaj Allianz 11.5% Birla Sunlife 14.4%

12 Private players in the market today:  6 Bank owned insurers- HDFC Standard Life, ICICI Prudential, ING Vysya, Metlife, OM Kotak, SBI Life 6 Independent Insurers- Aviva, Birla Sun Life, Bajaj Allianz, Max New York Life, TATA Alg 82% market share still held by LIC


INSURANCE COMPANIES OPERATING IN INDIA PUBLIC SECTOR 1.LIFEINSURANCE CORPORATION OF INDIA 2. Birla Sun Life Insurance co. Ltd. (BSLI) 3. Bajaj Allianz Life insurance co. Ltd. 4. SBI Life Insurance co. Ltd. (SBI LIFE) 5. HDFC Standard Life Insurance co. Ltd.(HDFC STD LIFE ) 6. TATA AIG 7. MAX New York Life Insurance co Ltd. 8. AVIVA Life Insurance co. Ltd 9. Kotak Mahindra Old Mutual Life Insurance co. Ltd** 10. ING Vysya Life Insurance co Pvt. Ltd. (ING VYSYA) 11. AMP Sanmar Life Insurance co Pvt. Ltd. 12. MET LIFE Insurance co Pvt. Ltd. PRIVATE PLAYERS 1. ICICI Prudential Pvt. Ltd*


Bajaj Allianz life insurance received the Insurance regulatory and development authority(IRDA) certificate of Registration on 2nd May 2001 to conduct life insurance in India. The company has an authorized and paid up capital of Rs.110crores. Bajaj auto Limited holds 74% and the remaining 26% is held by Allianz, SE. To day has a countrywide network connected through the latest technology for quick communication and response in over 200 town spread across the length and breadth of the country.


Bajaj Allianz life insurance Company boasts of nationwide presence with 900 offices and over 4 million satisfied customers. As on 31 st march 2008,Bajaj Aliianz Life insurance maintained its permier in the industry by garnering a premium income of Rs.2578crore, achieving the Rs.100crores mark in profit after tax by generating Rs.105crores. In the first quarter of 2008-09, the company garnered a gross premium of Rs.733.53 crores against Rs.573.73 last year for the same period registering a growth of 28%. BAJAJ ALLIANZ LIFE INSURANCE CO. LTD is a unique joint venture the among the global giants Allianz Group (AG) and Bajaj auto. Allianz AG’s world ranking establishes it among the top insurance companies in the world. Bajaj Auto is one of the biggest two and three wheeler manufacturer in the world. Allianz is a leading insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth over a trillion euros ( over Rs 55,00,000 crores ).Allianz has over 115 years of financial experience in over 70 countries. Bajaj auto is one of the most trusted name is Indian auto for over 55 year. At bajaj alliaz customer delight is our guiding principle. Ensuring world class solutions by offering customized product with transparent benefits, supported by best technology is our business philosophy.\

COMPANY VISION • To be the first choice insurer for customers • To be the preferred employer for staff in the insurance industry.


• To be the number one insurer for creating shareholder value. COMPANY MISSION As a responsible , customer focused market leader, we will strive to understand the insurance need of the consumers and translate it into affordable product that deliver value for money. ACHIEVEMENTS Bajaj Allianz life insurance offers technical excellence in all areas of Health Insurance as well as Risk Management. This partnership successfully combines Bajaj Auto’s in-depth understanding of the local market and extensive distribution network with the global experience and technical expertise of the Allianz group. Bajaj Allianz has received “iAAA rating, from ICRA limited, an associate of Moody’s Investor Services Claims paying Ability. This rating indicates highest claims paying ability and a fundamentally strong position.



Standard Chartered Bank

Contact Number :
022 2492 8888

E-mail Address:


Syndicate Bank

Contact Number :
020 4026 742

E-mail Address:


Placement Sales and Services Ltd.

Contact Number : E-mail Address:

0487-2388666,2385922 Tele Fax - 2388666 placementss@rediffmail.com

Address: Regency Centre, Kalavary Road,
West Fort, Thrissur –4 Kerala, India

Team Life Care Co. (India) Ltd.

Contact Number :

0427 - 2410707; 2420707; Tele Fax - 2421245

Address: 5/118, Yercaud Main Road,
www.teamlifecare.in Chinnakollapatti, SALEM - 636008.

GE Money

Address:4A, DLF Corporate Park Qutab
Enclave, Phase - 3 Gurgaon - 122002, Haryana India www.gemoney.in

Ernestine Consultants Pvt Ltd.

Contact Number :
080- 4034 1999 Fax- 080 - 4034 1920

Address: 1011, Ist Floor 3rd Cross, 13th Main

HAL 2nd Stage, Indira Nagar Bangalore-560038


Contact Number : 020 2488051 18


FISCAL YR 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07

NO.OF POLICIES SOLD 21,376 1,15,965 1,86,443 2,88,189 7,81,685 20,79,217

NEW BUSINESSincr. 7 69 180 857 2717 4270




PRODUCT Various Insurance products: INVIDUALS PLANS • • • • • • • • • • • Units Gain Insurance Term Care Plans Lifetime Care Insurance Policy Business Insurance Policies Savings and Securiy Policies for You and your family Rural Insurance plan Healthcare Insurance Financial Insurance Pension Plus Retirement Plans Children’s Plan Endowment Plans and many more.

GROUP INSURANCE SCHEMES • Insurance for employee-employer groups • Insurance for non employer-employee groups • Employees Deposit Linked Insurance • New Group Superannuation Scheme • New Group Gratuity Care Scheme SPECIAL INSURANCE FOR NRI’es • Investgain Endowment Plan • Cashgain Money Back plan • Swarna vishranthi


BAJAJ ALLIANZ LIFE INSURANCE LAUNCHES BAJAJ ALLIANZ FORTUNE PLUS Bajaj Allianz life insurance announced the launch of “Bajaj Allianz Fortune Plus –A wealth creating ULIP which takes care of all your investment requirement”. This is one of the First ULIPs in the market, which offers Zero surrender Charges and high allocation from day one, which is now available at affordable premiums to massem starting at Rs. 15,00o per annum only. KEY BENEFITS • • • • • Customer Service: Not unexpectedly, this was one area that witnessed the most significant change with the entry of new players. There is an attempt to bring in international best practices in service and operational efficiency through use of latest technologies. Advice and need based selling is emerging through much better trained sales force and advisors. There is improvement in response and turnaround times in specific areas such as delivery of first policy receipt, policy document, premium notice, final maturity payment, settlement of claims etc. However, there is a long way to go and various customer surveys indicate that the standards are still below customer expectation levels. Zero surrender charges Best value for money ULIP Available for three terms 10,15 and 20 year. Flexibility of withdrawals after 3 years 100% premium for policies 10 yr and above

BAJAJ ALLIANZ Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life

stage. Its products can be enhanced to create a customized solution for each policy holder. Child Plan Smart Kid education plans provide guaranteed educational benefits to a child along with life insurance cover for the parent who purchases the policy. The policy is designed to provide money at important milestones in the child’s life. Smart Kid plans are also available in unit-linked form ? both single premium and regular premium.

Retirement Solutions

Forever Life is a retirement product targeted at individuals in their thirties. Secure Plus Pension is a flexible pension plan that allows one to select
between 3 levels of cover.

Market-linked retirement products FUTURE INCOME GENERATOR is a regular premium market-linked pension plan


FUTURE SECURE is a single premium market-linked pension plan that helps one accumulate over the long term and offers an annuity option at the time of retirement.

NEW UNIT GAIN EASY PENSION PLUS is a regular premium pension plan with a capital guarantee on the investible premium and declared bonuses.

SWARNA VISHRANTI: is a limited premium paying retirement solution that offers tax benefits up to Rs 100,000 u/s 80C, with flexibility in both the accumulation and payout stages.

Health Solution

Health Assure: Is a regular premium plan, which provides long term cover against 6 critical illnesses by providing policyholder with financial assistance, irrespective of the actual medical expenses. Health Assure Plus: Is a regular premium plan which provides

long term cover against 6 critical illnesses by providing financial assistance, irrespective of actual medical expenses, as well as an equivalent life insurance cover.


FAMILY CARE FIRST: we offer cash less mediclaim facility across 2000 hospitals in over 300 towns.

WOMEN INSURANCE: Today women is an inspiration to her family.we offer innovative plans which provide investment, savings, retairment solution, medical insurance, there childern’s education and their future.


UNIT LINKED PLAN: is a suitable product for you, if your objective is long term targeted wealth creation over 15-20 years, either for your own retirement or for your children's future, while at the same time providing your family a enhanced protection against unfortunate incidences in life. Being a unit-linked plan, it also suits your requirement of deriving potentially higher returns by assuming the appropriate risks. Group Insurance Solutions BAJAJ ALLIANZ LIFE INSURANCE also offers Group Insurance Solutions for companies seeking to enhance benefits to their employees.

Bajaj allianz Group Gratuity Plan: bajaj allianz group gratuity plan helps employers fund their statutory gratuity obligation in a scientific manner. The plan can also be customized to structure schemes that can provide benefits beyond the statutory obligations.

Bajaj allianz Group Superannuation Plan: bajaj allianz offers a flexible defined contribution superannuation scheme to provide a retirement kitty for each member of the group. Employees have the option of choosing from various annuity options or opting for a partial commutation of the annuity at the time of retirement.


Bajaj allianz Group Term Plan: bajaj allianz flexible group term solution helps provide affordable cover to members of a group. The cover could be uniform or based on designation/rank or a multiple of salary. The benefit under the policy is paid to the beneficiary nominated by the member on his/her death.

One of the best ways for employers to retain their employees is to show them that their organization cares not only for them but also their families. At Bajaj Allianz Life Insurance we offer customised insurance plans, which safeguard your employees’ interests and show your commitment to your employees. Bajaj Allianz Life Insurance Group Plans offer • Financial stability to employees • Ease of operations and fund management.

Non Employer Employee Credit Shield Group Term Life(Non-Employer Employee) Group Suraksha Swayam Shakti Suraksha Employer Employee Group Term Life (Employer Employee) New Group Gratuity Care New Group Superannuation Care Group Save Plus Group Term Life in lieu of EDLI


Savings And Securites Policy

Secure Plus is a transparent and feature-packed savings plan that offers 3 levels of protection. Cash Plus is a transparent, feature-packed savings plan that offers 3 levels of protection as well as liquidity options. Save’n’Protect is a traditional endowment savings plan that offers life protection along with adequate returns. Cash back is an anticipated endowment policy ideal for meeting milestone expenses like a child’s marriage, expenses for a child’s higher education or purchase of an asset. Lifetime Super & Lifetime Plus offer customers the flexibility and control to customize the policy to meet the changing needs at different life stages. Each offer 4 fund options ? Preserver, Protector, Balancer and Maxi miser.


Lifeline Super is a single premium Market Linked Insurance Plan which combines life insurance cover with the opportunity to stay invested in the stock market. Premier Life is a limited premium paying plan that offers customers life insurance cover till the age of 75.


Lifeguard is a protection plan, which offers life cover at very low cost. It is available in 3 options ? level term assurance, level term assurance with return of premium and single premium. Home Assure is a mortgage reducing term assurance plan designed specifically to help customers cover their home loans in a simple and cost-effective manner. Accident & Disability: if death occurs as the result of an accident during the term of policy, the beneficiary receives an additional amount equal to the rider sum assured under the policy.If the death occurs while traveling in an authorized transport, the beneficiary will be twice the sum assured as additional benefit. Critical Illness: it protects the insured against financial loss in critical

BAJAJ ALLIANZ LIFE INSURANCE has one of the largest distribution networks amongst private life insurers in India, years, BAJAJ ALLIANZ LIFE INSURANCE has retained its position as the best private life insurer in the country, with a wide range of flexible products that meet the having commenced operations in over 116 cities and towns in India,


stretching from Bhuj in the west to Guwahati in the east, and Amritsar,UP in the north to Trivandrum in the south. The company has bank assurance tie-ups, having agreements as well as about 290 corporate agents and brokers. It has also tied up with NGOs, MFIs and corporate for the distribution of rural policies and organization like RURAL INSURANCE PLAN, a policy for the socially and economically underprivileged sections of society. IBAJAJ ALLIANZ LIFE INSURANCE has recruited and trained more than 65,000 insurance advisors to interface with and advise customers. Further, it leverages its state-of-the-art IT infrastructure to provide superior quality of service to customers. SCOPE OF THE PROJECT Scope of this project was to find out awareness level, customer satisfaction level of the products and others.To know the market value and insurance.

Understanding the company Understanding the company profile, company business, company products, distribution network, and customer of the company, organization chart, market share, market structure, and pricing & promotion strategy. Understanding the OJT OJT gives direct exposure to us and it gives the flavor of team working org. culture, result orientation, org. pressure, and complexities in achieving desire result. It is learning experience to us and be aggressive in achieving the desire results. It provides good scope for developing necessary managerial skill and positive attitude.


Conceiving and finalizing project proposal Project proposal is an important document in which (it indicates) we are going to complete the project in the remaining week. So, it is necessary conceiving and finalizing. Project work Implementation of project proposal we have to planning, coordination, and operational discipline. And we have to break the project in to various components and assign timelines along with desired results. This is help to understand the progress made from time to time.

Objectives of Project
Investment planning Investment planning is an alien concept for the Indian populace. For a country which till now was worried about making ends meet this emerging trend is definitely a new experience. But, the truth is that if only they would have been introduced to the Art of Managing Money, life could have been so much easier. Most of us spend more than half of our lives working and saving because money is important, in fact crucial. However, most of us spend almost no time planning to make that hard-earned money work more effectively for us. So, how do you plan your financial life? On the investment Planning Desk will discuss concepts, ideas and methods of planning, goals, return, risk and various investment options. Concepts such as inflation, power of compounding, stock market jargon etc will be explained in a phased manner. What is investment planning? Financial planning is nothing but an assessment of your goals and the steps you must take to help make them a reality. What is it that you want? Is your wish to retire with a sound lump sum amount or do you want a steady monthly income. Is your son's education or daughters' marriage worrying you? The key is to figure out your goals.

Where is your money going? The most important thing is that you should where your money is going. Zero on your monthly and annual expenses. Why should you invest? You should invest so that your money grows and shields you against rising inflation. If prices rise by four per cent annually it would not be sufficient if your savings only give you a return of three per cent. It leaves you with a deficit of one per cent. The idea is that your rate of hreturn on investments should be greater than the rate of inflation, leaving you with a nice surplus over a period of time.



Research: The very common meaning of research is “a search for knowledge”. Researches an act of scientific investigation. It is movement from the known to the unknown fact confronts us; we try to find the meaning and causes of that fact. It is a scientific and systematic search for patient information on a specific topic. It is an organized enquiry. It clarifies doubtful facts. It corrects the misconceived facts or ideas. It seeks to find explanations to unexplained phenomenon. In fact, research is an original contribution to the explanation to unexplained making or its advancement. It is the pursuit of truth with the help of study, observation, comparison and experiment. In short, research is nothing but search for knowledge through objective. It is a systematic method of finding solution to a problem. According to Clifford Woody, the research is defined as “the process, which includes defining and redefining problems, formulating hypothesis or suggested solutions, collecting, Organizing and evaluating data; making deductions and reaching conclusion and at last carefully testing the conclusion to determine whether they fit the formulating hypothesis .


RESEARCH METHODOLOGY here includes 1. Main objective 2. Type of research 3. Research problem. 4. Research design 5. Sources of data. 6. Methods of data collection.

Type of research:
1. Qualitative Research as it includes comparative analysis of various funds house. 2. Descriptive Research as it includes research and description of various fund houses.

Research Problem;
The first step while conduct Bajaj Allianz life insurance any type of research is decide bajaj allianz of the problem on which the research has to be done. find out right person for investment is first challenge.


Research design:
A research design is the arrangement of condition for collection and analysis of date in a manner that aims to combine relevance to research purpose with economy in procedure

SOURCES OF DATA The respondent has collected the data from different sources. These sources can be broadly categorized into two: There are two types of sources of data • Primary data • Secondary data Primary data This type of data does not exist; it is originated by primary sources like personal interaction or field back forms, questionnaires that act as tools for collecting data. Secondary data This type of data already exists, and used to generate information as required. We collect the secondary data through Internet, books, journals and magazines of the company, various company broachers, talking with people. I have used both primary and secondary data in my study.

Sample Size:
My sample is 50 individuals.


Sampling Method:
The basic idea of sampling is that by selecting some of the elements in a

population who are professionals like salaried person, employee. The person who have own shops, medical store etc and ladies who have own shops of like beauty parlour, boutique etc. A population element is the subject on which measurement is being taken. A population is the total element about which we wish to make differences.The ultimate test of a sample design is how to well it represents the characterstics of the population it supports to represent.In measurement terms the sample must be valid.

Precautions in the use of questionnaire:

1. Should be simple and easy to understand. 2. clearly defined the objective of enquiry 3. Questionnaire should not hurt feelings of the respondent

Data analysis techniques:
“In order to have full coverage of objective, following method are used:
1. Primary Source – Interviews, Questionnaires are a simply

formalized schedule to obtain and record specified and relevant information. 2. Secondary Source – annual reports of company on internet, records and magazines.

Field work:
“For collecting the relevant data and information, field work was essential tool. In field work personal interview with concerned parties


were conducted and questionnaire is being given to feed relevant information.”

When we call the customer we have to face the following difficulties. 1. Non availability of time 2. Qualification problems 3. Distance problem 4. Lack of affordability 5. Lack of knowledge about insurance 6. Age problem.



Prepared Questionnaire for the market study. Sample space used for the market study is 50. The market survey was conducted in Kothrud and Deccan area. This area was selected since there exists BAJAJ ALLIANZ LIFE INSURANCE branches and awareness among people was thought to be high. The Questionnaire was mainly focused on awareness of insurance and insurance companies among common people. Also the questionnaire was focused on recruitment of financial advisors. That is whether people know the benefits of becoming an advisor are they willing to become advisors and so on. They questionnaire appears in the appendix of the project.

FINDING AND DATA ANALYSIS 1. Do you know about Insurance? YES- 33% NO- 67%




When asked people whether they know about insurance, surprisingly only 33% of the respondent said they actually know about insurance and about 67% said they don’t know about insurance . The part of respondents who were unaware about the insurance I industry do not have a clear idea about the various new upcoming Insurance companies and policies in particular.

2. ARE YOU INSURED? YES- 60% No- 40%



There are only about 60% of the people who are insured about the rest 40% people are not insured. The conceots if insurance though not new people are not ensured about the genuinty of the insurance policies. 54% of the people are planning to have an insurance cover on Pension/Retirement Scheme, with 30% saying they have planned to cover the Life Insurance okan, and 10% saying they want to cover the Insurance by way of Child Education.

Awareness of people about BAJAJ ALLIANZ life Insurance Company

about 90% of the respondents are aware bajaj allianz Company by many advertisement that they watch, have heard the name of the company from their family members and friends. Bajaj allianz as in the market for not more than 6 Years but the popularity found in the survey was tremendous , so the way publicity done by bajaj allianz is very effective.

3. Are you aware of the various company policies? 1) Yes Yes No 95% 5% 2) No

Konwledge of Company Policies

Yes No

Almost all the employees are aware of the company policies. Some people who are trainees and on contract basis don’t have idea about all the policies. 4. Are your doubts regarding the work are cleared urgently?

1) Yes Yes No 89 21

2) No
Doubt Status


Doubts regarding the work are cleared on very urgent basis as to complete the work within the given time span.


5. Which criteria are given more importance at the time of

interview? Options Given Experience Qualification Percentage 5% 45%

Technical Skills All Total

10% 40% 100%
Experience Qualification Technical Skills All

This graph shows that company preferred mostly qualification as well as all combination of all the skills, which includes qualification as well as experience.

6. Are you satisfied with companies policy? Options Yes No Total
90 80 70 60 50 40 30 20 10 0 yes no

No. of Respondents 83 17 100


This graph shows that 83% says quality claims are true and17% says false. 7. Do you think the activation and promotion of bajaj allianz is better then its competitors?

Options Yes No Total

No. of Respondents 59 41 100

60 50 40 30 20 10 0 yes no

This graph shows that 59% think activation and promotion of product is good and 41% think its not.











ALLIANZ LIFE INSURANCE are not up to the mark. • Telephonic appointment fixing and then meeting the client seems to be the best way to get some valuable time out of the corporate. • The first and foremost objective was to identify people who can take up the financial consultant with BAJAJ ALLIANZ LIFE INSURANCE , so the main focus was to identify the locations where we can meet a good number of people in time . As per researcher it is mainly the crowded place like shopping malls , BSNL office , and corporate • As the entire exercise was mainly limited to identify financial consultant, the specific guidelines laid by the company where mainly

sex , age , qualification , profile and social contacts.

Lastly, since the researcher used to meet a lot of people it was quite evident that everybody’s profile won’t match the desired qualification for becoming a financial consultant. This prompted as to identify at least some prospects that can take various plans available with the company. BAJAJ ALLIANZ LIFE INSURANCE has

maintained a good reputation for its services and policies. Recruitment procedure & policy is very important to any organization in today’s business world as it helps to select & recruit the right candidate for the right work followed properly. It helps to accomplish organizing goals & objective. Recruitment & Selection is sun function of staffing where


fitting up of all organizational position with adequate, qualified competent & efficient personal. The managerial skills & abilities of a Marketing Manager are reflected in recruiting & selection the appropriate & prospective candidates. Hence the purpose of our choosing the topic on recruitment is to know the characteristics of a good recruitment policy & to throw light on the practical implementation of the same. BAJAJ ALLIANZ LIFE INSURANCE has maintained a best and a biggest leading company in INDIA.Its product and policies made it one of the largest insurance company. BAJAJ ALLIANZ LIFE INSURANCE has developed insurance solutions that cater to every segment and age income profiles.WITH a pan INDIA presence and over 950+ towns, BAJAJ ALLIANZ LIFE INSURANCE has already sold over 5 million policies.




• BAJAJ ALLIANZ LIFE INSURANCE should go for a brand ambassador who can really put across the message of insurance across the customer and according to me Rahul dravid would be the ideal brand ambassador as he has a place in the mind of Indian people as a reliable and a man for a crisis situation. Rahul dravid could put BAJAJ ALLIANZ. • To sell a PSP needs great efforts here the client is a corporate and its could be difficult for alone to handle such a uphill task hence help in client presentations from experienced sales managers would be of great help in getting big corporate into the PSP fold. • Attrition rate of most of the companies were too high but the PSP does not have what is to be done in case of employee leaving the organization should be included in the PSP. • BAJAJ ALLIANZ LIFE INSURANCE needs more publicity. • BAJAJ ALLIANZ LIFE INSURANCE should focus more on young and low aged people that is between 25-35 because they are more energetic and money oriented. across the message of consistent returns and trustworthy products of




1. Donald R. Cooper, Pamela S. Schindler. “Business Research Methods.” (New York: Tata McGraw Hill, 2003), 531537. 2. Philip kotler – Marketing management
Websites visited:
     

www.google.com www.lic-india.com www.gic-india.com www.walletwatch.com www.bajajallianzlife.co.in www.indiabudget.nic.in



QUESTIONNAIRE 1.Personal Information: Name: _______________ Age: ______________ Sex: _______________ Address: ________________________ ________________________ ________________________ ________________________ ________________________ ________________________ Phone No. _____________

2. Family background : How many members do you have in your family?








__________________________ How much of them are earning?


3. What is your total family income?
A. Less than Rs. 6000/- B. Between Rs. 6,000 to 10,000/C. Between Rs. 10,000 to 15,000/D. More than Rs. 15,000/4. What is the likely amount you would like to invest? 5. What existing insurance cover do you have? 6. What type of plane you have already purchased? 7. Are you familiar with Bajaj Allianz life insurance ? 1. Yes. 8. Do you have any any insurance policy? A. C. Yes If yes, which B. No 2. No.

company_________________________________ 9. Has any insurance company ever customized an insurance product to fulfill your needs?


A. Yes


No life

10. Do you want some body from our company to meet for your insurance, investment planning? A. Yes B. No

11. Do you feel that owing a life insurance product is necessary. A. strongly agree D. strongly Disagree B. agree C. disagree

12. Do you feel that investing in the stock market is risky. A. strongly agree D. strongly disagree B. agree C. disagree

13. Do you feel that every parent should invest for his or her child future. A. strongly agree B. agree C. disagree D. strongly disagree 14. Has any insurance company ever customized an insurance product to fulfill your needs? A. Yes B. No 15. Do you want some body from our company to meet for your insurance, investment planning? A. Yes B. No life















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