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I

om:
SHANKUMAR J. SOLANKI
C/o MANOJ SOLANKI
B TIRUPATI APPTS 16 SANGAM SOC
AMBAWADI HIRABAUG CROSSING
AHMEDABAD - 380015
GUJARAT STATE, INDIA
e-mail: kishan_solanki@rediffmail.com

Mob. + 971 507396163 (UAE) 1 +91 9727999034 (India)

1st September 2009

To,

The Coordinator (Projects),


School of Management Studies,
IGNOU,
Maidan Garhi,
New Oelhi-110 068.

Subject: Submission of Project Proposal for MS-100 (Student Enrolment no. MP - 909150356)

Dear Sir,

With reference to the above, please find attached following:

1. Proforma for Approval of Project Proposal duly signed by me & the Project Guide
2.. sis of Project Proposal (4 pages) duly signed by me & project Guide
3. Detailed Bio-data of the Project Guide Mr. Chetluru S. Ravi, duly signed by him
4. Copy of Re-registration acceptance at IGNOU Regional Centre, Ahmedabad dated 14/1/2009

Kindly note that my recorded address is as stated above, but I frequently visit Dubai, UAE & intend to
take up employment there shortly & hence taken up project relating to UAE with project guide who is
well experienced Professional working in Insurance sector in UAE.

Kindly requested to approve my Project proposal at the earliest and enable me to complete the Project
Work MS-100 at the earliest.

Thanking you
~.

Yours faithfully .,..

~Olanki

MP Regn no. 909150356

Encl: As above
From:
SHANKUMAR J. SOLANKI
Clo MANOJ SOLANKI
B TIRUPATI APPTS 16 SANGAM SOC
AMBAWADI HIRABAUG CROSSING
AHMEDABAD - 380015
GUJARAT STATE, INDIA
e-mail: kishan_solanki@rediffmail.com

Mob. + 971 507396163 (UAE) I +91 9727999034 (India)

1 st September 2009

To,

The Coordinator (Projects),


School of Management Studies,
IGNOU,
Maidan Garhi,
New Delhi-110 068.

Subject: Submission of Project Proposal for MS-100 (Student Enrolment no. MP - 909150356)

Dear Sir,

With reference to the above, please find attached following:

1. Profonma for Approval of Project Proposal duly signed by me & the Project Guide
SyI10psi-:s 0 Project Proposal (4 pages) duly signed by me & project Guide
3. Detailed Bio-data of the Project Guide Mr. Chetluru S. Ravi, duly signed by him
4. Copy of Re-registration acceptance at IGNOU Regional Centre, Ahmedabad dated 14/1/2009

Kindly note that my recorded address is as stated above, but I frequently visit Dubai, UAE & intend to
take up employment there shortly & hence taken up project relating to UAE with project guide who is
well experienced Professional working in Insurance sector in UAE.

Kindly requested to approve my Project proposal at the earliest and enable me to complete the Project
Work MS-100 at the earliest.

Thanking you
~.

Yours faithfully

~Olanki

MP Regn no. 909150356

Encl: As above
Project Proposal No. bz.... 0 ~ 1. ~ I MBA
(To be assigned by the School)

School of Management Studies


INDIRA GANDHI NATIONAL OPEN UNIVERSITY
Maidan Garhi, New Delhi -110 068

PROFORMA FOR APPROVAL OF PROJECT PROPOSAL (MS -100)

Enrolment No. 909[50356 Study Centre: LD Arts College, Ahmedabad (0901)


Regional Centre: Ahmedabad (09)

Name and Address of the Student KISHANKUMAR 1. SOLANKI


C/o MANOJ SOLANKI
B TIRUPATI APPTS 16 SANGAM SOC ~~ \
AMBA WADI HIRABAUG CROSSING \L~ So ~C't.N\ _ So .tel."" ~
AHMEDABAD - 3&0015 @.. J\J.el..."..f1-'V'A..<>\.1'" U1'"
GUJARA T STATE, INDIA ""'\t-\'" . -t- 9"1' ,.:5 Cl ~ r 3 9 6'16..s cV ~ )
Title of the Project Study of Consumer Behaviour in Insurance
Services related to Construction Sector in UAE

Subject Area
~n==;:~~~:~~i~:~~nfuFffi8IiBR
Name and Address of the Supervisor Mr. Chetluru S. Ravi
Vice President - Technical! Corporate Relations
Insure Direct (Brokers) LLC
PO Box: 57006, Dubai, UAE
Tel.: Direct: +97144339419 Mobile: +971506405983
Email: Chetluru.Ravi@dubaiworld.ae &
cs_ravihema@hotmaiLcom

Is the Supervisor an Academic Counsellor


of Management Programme ofIGNOU?

If Yes, Name and Code of Study Centre Not Applicable


and the courses he J she is counseling for
and since when

No. of the Students currently working 01 (One)


under the Supervisor for MS-lOO

Signature of Student CrvC.J.J, Signature of Supervisor: C-"" 5, . ~


Date: <HO0;'" ,~~ Date: Of - 0", - ~~9
Please do 1I0t forget to enclose the synopsis of the project and the Bio-data of the Supervisor. In case the complete
and signed Bio-Data of the Supervisor (Even if the proposed supervisor is all academic counceller of IGNOU's
Management Programme) is 1I0t enclosed, the proposal will 1101be entertained.

SYNOPSIS SUPERVISOR For Office Use only


APPROVED

NOT APPROVED
\/-- APPROVED~~

NOT APPROVED

Comments I Suggestions for reformulation of the Project


G~~
(SIGNATURE OF MANAGEMENT
Date J.~7:.f of···
FACULTY)

(Please use the photocopy of this proforma)


Synopsis of the Project Proposal

roject Title: Study of Consumer Behaviour in Insurance


Services related to Construction Sector in UAE

2. Subject Area: Marketing Management

3. Rational for the Study:

The Construction Sector is vital and vibrant part of the Economy in United Arab
Emirates (UAE). Various Construction Projects in UAE are of high value and long
duration which involve complex execution process. Also there is high concern for
safety & environment protection. These factors make the Construction sector in
UAE as one of the highly risky business operations.

To mitigate high risks involved, Insurance of various kind viz. Contractor's All Risk
uding Third Party Liability, Plant & Machineries, Workman Compensation,
essi al lndernnlty.etc are mandated Contractually by various participants of
UAE is one of the largest insurance markets in the
e UAE market were around
- ~~- er forecas e ins a ce market is growing by
:; a . There are about 50 Direct Insurance firms and more
a 20 Intermediaries in UAE engaged in providing insurance services of
various kinds. This has enthused to take up the study of Consumer Behaviour in
Insurance services related to Construction Sector in UAE

4. Objectives of the Study:

The Construction Sector is vital and vibrant part of the Economy in United Arab
Emirates (UAE). The main objective behind the project is to study and identify
consumer buying Behaviour regarding various type of insurance requirements of
the Construction Sector in UAE. It is expected that this study will help the
company managements of Insurance Provider organizations to study the analysis
and understand the behavior of consumer of their Insurance related services that
will ultimately enable to effectively market their product & services.

Synopsis of Project Proposal by Klsnankurnar J. Solanki - MBA Student of IGNOU - enrollment no. 909150356

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_5 e above main objective, there are following sub-objectives of this study:

a. 0 identify the influence of different characteristics/features of various


I surance Policies on Consumers in different segments of Construction
Sector viz. Contractors, Consultants, Developers, and Owners operating in
UAE
To find out there is any brand loyalty & if so, why consumer prefer
particular brand of Insurance policies? and Which are the factors that
influence and motivate him to buy the preferred brand of the Insurance?
c. To get a better understanding of Insurance Market in UAE.
d. To find the most preferable brand among the various type of Insurances
and to find which brand enjoy the market leadership position
e. To help the Company Marketing Managers to Design an Effective
Marketing Mix for it target Customers
f. Last, but not the least, to help the student of this study to gain more insight
of Insurance which help him to perform better in his current job besides
helping to fulfill requirements of coveted degree of MBA in Marketing
Management.

ogy to be used for carry out the study:

.v- ~ a oac 0 carry out the study:

a. ature of data,

It is planned to obtain following details from the survey:

i. Overview of various categories of consumer of Insurances

ii. Major types of Insurances taken by Construction Sector

iii. General Consumer profile

iv. Satisfaction level with the current Insurance Providers

v. General process of decision making in the consumer organisation

vi. Reason for the selection of specific insurance policy and provider

vii. Desirable features of the product and risk aptitude

Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU - enrollment no. 909150356

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Data Sources,

The data sources shall be categorized into two categories - Primary and
Secondary:

• Primary Data: Primary data are those, which are collected for the first time,
and they are original in character. A suitable combination of Questionnaire,
techniques & discussion with the respondents will be used to collect the
required Primary data. Primary data gives higher accuracy and facts, which
is very helpful for any research and its findings.
• Secondary data: - The secondary data are those, which are already
collected by someone for some purpose and are available for the present
study. Secondary data will be collected from the magazines, websites and
other such sources.

c. Data Collection Methods,

aire method:- Primary data will be collected by surveying the


. pia ned to use both the Close & Open Ended
r ·5 free 0 ans ~i in eir own words too.

Tools and Techniques of Analysis, Sampling

Sample Size will be around 100 respondents and convenience sampling


method will be adopted

The main statistical tools planned to be used for the collection and analyses of
data in this project will be:

• Questionnaire
• Pie Charts
• Bar Diagrams

Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU - enrollment no. 909150356

Page 3 of 4
e expected contribution from the study:

ne study will help the both the consumer of the Insurance as well as Insurance
'ce provider in UAE,

-"'e Consumer of the Insurance will appreciate various options available to them,
~·s will help them to choose from the Insurance providers who meet their
. ire ents at optimum cost to them,

I surance service providers will be able to better understand the needs of the
......
sumers of their products and how various features of their insurance policies
~ buying decision of the Consumers. This will help them review their
~- e 'ng strategies in order to better marketing of their products

tions, if any:

the current study will be exploratory & cross-sectional in nature, it identifies


uyi g behaviour of Consumers of Insurance services in UAE as a snapshot
e sampling method used is convenience sampling due to time & cost
a ence may ot provide accurate results. The user of the study is
m-oeom anaJ is 0 confirm the results obtained under this
'sa e co s ers over a pe lod of time) may also
ete i e now the buying behaviour of consumers changes over a
o irne.

8. The direction of future research:

The current study provides only a Cross sectional perspective on general buying
behaviour of consumers of Insurance services. Further study on longitudinal
section basis may provide useful information to know the time effect on buying
behaviour. Also, detailed studies can be undertaken on why the consumer
behaves in particular way - to further explore deep reasons that may help fine
tune the marketing strategies of Insurance service providers.

v'::>-~
c=s .tZ.AvI )
Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU . enrollment no. 909150356

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. Ravj
-------,---------------------------------

Z5,~'ar1A(or'k Experience in highly competitive Insurance ind

1il:1E1~iidlmt-Technical/Corporate Relations - 015t Mar.2009 - n I date


(Brokers) llC (A Dubai World Group Company)

d overseeing the entire Technical & Corporate Relations Operations

-el:illli:a~(:Orporate Relations Manager: Dec.200S- 01 Mar.2009


_a::eDil-ect (Brokers) LlC (A Dubai World Group Company)

ccountabilities:

anaging and Servicing Corporate Clients' Insurance portfolios


. ory services to various Project Insurances - Nokheel and other construction
ponies.
;;'oviding Technical advises to clients on various insurance matters.
~ ewal planning & placements
-_ veiopinq and maintaining relations with the International Markets for placements
- re Iy in international Markets for certain high valued Projects of Nokheel/limitless.
~ . ize the revenue contribution to the Emp/oyer by way of negotiating for higher
m. . s' s with Insurers
ce Backend support staff· Training & Development.
~1OfI'I~:lO in rn!Orlreting stroteaies 0 increase awareness amongst the Insuring

=----:c---_ --r; "rec ties for certain specializes classes of Insurance like
~r>'1""r>nce ehictes, Pleasure Craft/Yacht, Professional Indemnity Insurance
Perso a/lines business
e 'nical Assistance to Claims Department and claims negotiation with Insurers and
clients
Conducting Operational Training for the Staff
Organizing Presentation to Clients on Risk Management & Insurance

:lejputy Manager - Broker Relations Aug. 2002 - Nov. 2005


ationallnsurance, Oubai - Handling Direct & Broker Portfolio of AED 60 Million

. 'pal Accountabilities:

• Accountable for increase in Broker and Direct business and Customer service
• Ensuring quality brokers and customers with prudent professional insurance practices
• Ensuring systematic collection process to have Bad debts and Churn under control.
• Expanding Marketing network in line with Company principles to give better service to
customers.
• Establishing relations with International markets for arranging Fac RI Placements.
• Ensuring customer delight in all activities in sales and customer service.
• Encouraging good initiatives from the team and keep them engaged & motivated.
2
-~~ ••-..,"!-- ~ P 'mal utilization of resources to keep up the achievement, in line with

eting strategies to increase awareness amongst insuring Population,


et pment of the Team on the job and off the job.
--..,::{,'-.!-:~~_'!-G" - ode products in line with customer expectations
el partners adhere to the principles of the Company .
. h the trade through regular Broker Relation programmes for Brokers
.i ars, with Customers through customer interface programmes and
g p with top Corporates & Brokers.

uscat - Sultanate of Oman


erwriting July 2000 - June 2002
milllion per annum

risks including Industrial risks

ementing Prudent underwriting practices by way of setting professional


. g risks
0[1 other departments to act as a fowl point for all their insurance needs
ient i. maximum satisfaction
gent as to the production and servicing
ides based on the clients requirements

~!!CI_1II!5" en:5U'~ dEsdpli1!E.' Qm<l1lJqexecutives, monitor route Marketing /

2 uien Iy and effectively

s: re customer feedback from sales activities.


!& roaue information on competitors' activities.

ited India Insurance, Tamil Nadu, India - March 1985-June 2000


.Divisional Manager
rt listed as Branch Manager in a rural branch prior to my resignation)

- 'pg/ Accountabilities:

1. Accountable for the claims and underwriting of all classes of insurance in the specific
Divisional office
2. Meeting the Company's Divisional annual Business plans comprising of volume Targets,
New Direct Business Targets, Agents appointment, Branc coordination
3. Handling of technical & Sales team in the Division
4. Providing timely inputs through on the job training progro es, moo ating the Soles
team to have a better performance, building relations 5 1. the rrade.
Page 1 of 1

_ .• baD[lDl_ ~ationalOpen University


~l!iSlnILtion Details for January 2009 Session

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Code:

Admission I
. red Confirmed Remarks
on
114/1/2009 II=======;

._ ou.ac.in/ Adm2009 Jan. asp 17/03/2009