From: KISHANKUMAR

J.

SOLANKI

Clo MANOJ SOLANKI B TIRUPATI APPTS 16 SANGAM SOC AMBAWADI HIRABAUG CROSSING AHMEDABAD - 380015 GUJARAT STATE, INDIA e-mall: kishan_solanki@rediffmail.com Mob. + 971 507396163 (UAE) I +91 9727999034 (India) 1st September 2009
s

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. Proforma for Approval of Project Proposal duly signed by me & the Project Guide 3. 4. Synopsis of project Prof50sal (4 pages) duly signed by-me & project Guide Detailed Bio-data of the Project Guide Mr. Chetluru S. Ravi, duly signed by him 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)

I

MBA

School of Management Studies INDIRA GANDHI NATIONAL OPEN UNIVERSITY Maidan Garhi, New Delhi -110 068 PROFORMA
Enrolment No.

FOR APPROVAL

OF PROJECT
Study Centre: Regional Centre:

PROPOSAL

(MS - 100) (0901)

909[50356

LD Arts College, Ahmedabad Ahmedabad
1.

(09)

Name and Address of the Student

KISHANKUMAR
C/o

SOLANKI

MANOJ

SOLANK[

B TIRUPATI APPTS 16 SANGAM SOC i\MBA WADI HIRABAUG CROSSING AHMEDABAD - 380015 GUJARAT STATE, INDIA Title of the Project

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Study of

Consumer

Behaviour

in

Insurance

Services related to Construction Sector in UAE
Subject Area Name and Address of the Supervisor

~"~:;:::;:=::<~:~;~Hfflm1alieH
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: Chetluru.Ravi@dubaiworld.ae & cs_ravihema@hotmail.com

.s Supervisor an Academic Counsellor o f Managemcnt Programme of IGNOU? Ir y cs, Name and Code of Study Centre and the courses he J she is counseling for and since when No. of the Students currently working under the Supervisor for MS-lOO Not Applicable

01 (One)

Signature of Student Date:

l~J' (')\00~ ,~~

Signature of Supervisor: Date:

ot -

0., -

t:,.p$,' ~ ~,=,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.

SYNOPSIS APPROVED \/

SUPERVISOR APPROVED~l-< NOT APPROVED

For Office Use only

NOT APPROVED

(SIGNATURE OF Mi\NAGEMENT Comments I Suggestions for reformulation of the Project (Please use the photocopy of this proforma) Date

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FACULTY)

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;;"""" '__ 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

-'I.

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 Insurance the influence of different Policies on Consumers characteristics/features of various

in different segments

of Construction

Sector viz. Contractors, Consultants, Developers, and Owners operating in UAE b. To find out there is any brand loyalty & if so, why consumer particular brand of Insurance policies? prefer

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 helping to fulfill requirements besides

of coveted degree of MBA in Marketing

Management.

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. vii. Reason for the selection of specific insurance policy and provider 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 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, 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 Companies. 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 commissions with Insurers to the Employer by way of negotiating for higher

Field Force, Office Backend support staff - Training & Development. Innovation in marketing strategies to increase awareness amongst the Insuring

population
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 clients Conducting Operational Training for the Staff Organizing Presentation to Clients on Risk Management with Insurers and

& 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 customers. 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.

2 • • • • • • 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 Broker activities through executives. • Develop executives to handle market independently and effectively

I

_-_--_0--.-<

Feedback • • 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.

3
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 competition.

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.

Personal Office Address: Vice President - Technical I Corporate Relations
Insure Direct (Brokers) LLC

PO Box: 57006, Dubai, UAE Tel.: Direct: +971 44339419 Mobile: Email: +971-

50- 640 5983

csravihema@hotmail.com&Chetluru.Ravi@dubaiworld.ae

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 Tuesday, March Enrolment Region: Medium: No.:

only)

17,20095:05:01

PM MPR

909150356 Program: 09
Study Code:

0901

KISHANKUMAR J SOLANKI C/O MANOJ SOLANKI '-------1::;"":6

B- TIR ;PA TI AP ARTME

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I SOCIETY

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A.1ThlEDABAD-380006 GUJARAT

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http://stuinfo .ignou. ac.inl Adm2009 Jan. asp

17/03/2009

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