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AHMEDABAD - 380015

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

1st September 2009


The Coordinator (Projects),

School of Management Studies,
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. Proforma for Approval of Project Proposal duly signed by me & the Project Guide
Synopsis of project Prof50sal (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

MP Regn no. 909150356

Encl: As above
Project Proposal No. 6L (]-:> '3. ~
(To be assigned by the School)

School of Management Studies

Maidan Garhi, New Delhi -110 068


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

Regional Centre: Ahmedabad (09)

Name and Address of the Student KISHANKUMAR 1. SOLANKI

i\MBA WADI HIRABAUG CROSSING \<"-~S; ~ctJV\ _ So ,ta..""\ ~
AHMEDABAD - 380015 @. ~AA-f1-')"v\.<>'vt·I' U7 v.
GUJARAT STATE, INDIA 'M~t...''t"9'71 r- 5 0~ r~9 6'161 t V ~)
Title of the Project Study of Consumer Behaviour in Insurance
Services related to Construction Sector in UAE

Subject Area
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: +971 44339419 Mobile: +971 506405983
Email: &

.s Supervisor an Academic Counsellor

o f Managemcnt Programme of IGNOU?

Ir y cs, 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 l~J' Signature of Supervisor: t:,.p$,' ~

Date: (')\00~ ,~~ Date: ot - 0., - ~,=,9
Please do not 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 an academic counceller of /GNOU's
Management Programme) is not enclosed, the proposal will not be entertained.





Comments I Suggestions for reformulation of the Project

Date J.<?:/9.f df···

(Please use the photocopy of this proforma)

Synopsis of the Project Proposal

1. Project 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
including Third Party Liability, Plant & Machineries, Workman Compensation,
Professional lndemnlty.etc are mandated Contractually by various participants of
the Construction Sector. The UAE is one of the largest insurance markets in the
iddl€ East Countries. In 2008, total premiums in the UAE market were aro,;;.u~n;.d;;"""" '__ -'I.
EO 15 billion. As per Hie market forecast the insurance market is growing by
more than 15 % per annum. There are about 50 Direct Insurance firms and more
than 200 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 Kishankumar J. Solanki - MBA Student of IGNOU - enroliment no. 909150356

Page 1 of 4
Beside the above main objective, there are following sub-objectives of this study:

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

Insurance Policies on Consumers in different segments of Construction
Sector viz. Contractors, Consultants, Developers, and Owners operating in
b. 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

5. Research Methodology to be used for carry out the study:

It is planned to adopt following approach to carry out the study:

a. Nature 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

Page 2 of 4
b. Data Sources,

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

• 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,

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

respondent personally. It is planned to use both the Close & Open Ended
uestien where he researcher is free to answer in their own words tou·~.

d. 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
6. The ex~ected contribution from the study:

The study will help the both the consumer of the Insurance as well as Insurance
Service provider in UAE.

The Consumer of the Insurance will appreciate various options available to them.
This will help them to choose from the Insurance providers who meet their
requirements at optimum cost to them.

The Insurance service providers will be able to better understand the needs of the
Consumers of their products and how various features of their insurance policies
affects buying decision of the Consumers. This will help them review their
marketing strategies in order to better marketing of their products

7. Limitations. if any:

Since the current study will be exploratory & cross-sectional in nature, it identifies
the buying behaviour of Consumers of Insurance services in UAE as a snapshot
only. Also, the sampling method used is convenience sampling due to time & cost
restrictions, and hence may not provide accurate results. The user of the study is
advised to have further in-depth analysis to confirm the results obtained under this
study. Atso, iorrgitodingj stO(rr(s~ame corrsu . ers over a period of time) may also
be required to determine how the buying behaviour of consumers changes over a
period of time.

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.

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

Page4 of4
Chetluru S. Ravi

Work Experience

25 yrs of Work Experience in highly competitive Insurance industry.

Vice President - Technical/Corporate Relations - 015t Mar.2009 - Till date

Insure Direct (Brokers) llC (A Dubai World Group Company)

Managing and overseeing the entire Technical & Corporate Relations Operations

Technical/Corporate Relations Manager: Dec.200S- 01 Mar.2009

Insure Direct (Brokers) LlC (A Dubai World Group Company)

Principal Accountabilities:

• Managing and Servicing Corporate Clients' Insurance portfolios

• Advisory services to various Project Insurances - Nakheel and other construction
• Praviding Technical advises to clients on various insurance matters.
• Renewal planning & placements
• Developing and maintaining relations with the International Markets for placements
directly in International Markets for certain high valued Projects of Nakheel/Limitless.
• Maximize the revenue contribution to the Employer by way of negotiating for higher
commissions with Insurers
• Field Force, Office Backend support staff - Training & Development.
• Innovation in marketing strategies to increase awareness amongst the Insuring
Arranging/Placing Reinsurance Treaties for certain specializes classes of Insurance like
Motor High Performance Vehicles, Pleasure Craft/Yacht, Professional Indemnity Insurance
and Personal lines business
• Technical Assistance to Claims Department and claims negotiatian with Insurers and
• Conducting Operational Training for the Staff
• Organizing Presentation to Clients on Risk Management & Insurance

Deputy Manager - Broker Relations Aug. 2002 - Nov. 2005

Dubai National Insurance, Oubai - Handling Direct & Broker Portfolio of AED 60 Million

Principal 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
• Establishing relations with International markets for arranging Fac RI placements.
• Ensuring customer delight in al/ activities in sales and customer service.
• Encouraging good initiatives from the team and keep them engaged & motivated.
• Instrumental in optimal utilization of resources to keep up the achievement, in line with
Market forces
• Innovation in marketing strategies to increase awareness amongst insuring Population.
• Training & development of the Team on the job and off the job.
• Developing Tailor-made products in line with customer expectations
• Ensuring all Channel partners adhere to the principles of the Company.
• Keeping in touch with the trade through regular Broker Relation programmes for Brokers
and Customer seminars, with Customers through customer interface programmes and
personally meeting up with top Corporates & Brokers.

Muscat Insurance Company, Muscat - Sultanate of Oman

Senior Underwriter - Underwriting July 2000 - June 2002
Turnover: OMR 10 million per annum

Principal Accountabilities:

Underwriting of Major risks including Industrial risks

• Following and implementing Prudent underwriting practices by way of setting professional

Standards in accepting risks
• Coordinating with all other departments to act as a focol point for all their insurance needs
and service the client in maximum satisfaction
• Reporting to management as to the production and servicing
• Developing Insurance Policies based on the clients requirements

Manpower Development
• Handle 7 executives, ensure discipline among executives, monitor route Marketing I
~_.-_-..;..-= -,- Broker activities through executives. _-_--_0--.-<
• Develop executives to handle market independently and effectively


• Ensure customer feedback from sales activities.

• Procure information on competitors' activities.

United India Insurance, Tamil Nadu, India ~ March 1985-June 2000

Asst.Divisional Manager
(Short listed as Branch Manager in a rural branch prior to my resignation)

Principal 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, Branch coordination
3. Handling of technical & Sales team in the Division
4. Providing timely inputs through on the job training programmes, motivating the Sales
team to have a better performance, building relations ship with the trade.
5. Devising Strategies in line with Company's objectives and to review it on 0 daily basis to
have the best outputs.
6. Exercising prudent underwriting measures so as to eliminate bad risks
7. Have better hold on Market Intelligence to facilitate Proactive measures in combating

Kev Initiatives
• Identify Areas of growth and develop tailor-mode Package Insurance covers to suit the
needs of the Clients and devise strategies for aggressive marketing plans.
• Effective tracking and monitoring of Business Volumes status on a periodic basis.


Office Address:
Vice President - Technical I Corporate Relations
Insure Direct (Brokers) LLC
PO Box: 57006, Dubai, UAE
Tel.: Direct: +971 44339419

Mobile: +971- 50- 640 5983


Passport Details: Indian Passport No: E 8176860, Valid till 17/05/2014

Age & DOB: 45 Yrs & 04/07/1964.

Marital Status: Married.
Languages Known: English, Tamil, Telugu, and Hindi.

B 'an
~ Master of Business Administration from Madras University - India - 1998
~ Master of Public Administration - MA (PA) - Madras University, India -1990
~ Bachelor of Science ( Physics) from Madras University -India - 1984
~ Fellowship in Insurance from Insurance Institute oJ India, India - 1990
~ Pursuing ACII (London) and only 2 Papers to be completed
~ PG Diploma in Computer Applications from Private Computer Institute, India

Other activities

~ Conducted various training programmes for Staff and outside organisations on

Human Relations Management & Insurance - Risk Management
~ Conducted private Tuition classes for Higher Secondary and College students.
Adrnission/Registration Details Page 1 of 1

Indira Gandhi National Open University

Admission / Registration Details for January 2009 Session
Status as on : March 12,2009

(For information only)

Tuesday, March 17,20095:05:01 PM

Enrolment No.: 909150356 Program: MPR

Region: 09 Code: 0901

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