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Bajaj Allianz General Insurance Trianing Report PDF
Bajaj Allianz General Insurance Trianing Report PDF
Submitted to
Submitted by:
Name of the student Ankit Kumar
University Roll No. S1803B32 (2nd SEM)
University Reg.No. 10810218
DEPARTMENT OF MANAGEMENT
LOVELY PROFESSIONAL UNIVERSITY
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Bajaj Allianz General Insurance Co. Ltd.
PHAGWARA
(2009)
CERTIFICATE
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Bajaj Allianz General Insurance Co. Ltd.
Ghaziabad.
ACKNOWLEDGEMENT
“No man is indispensable but there are certain mortal without whom the quality
work suffers their guidance becomes important in acquiring quality results”.
I would like to express my gratitude to all those who gave me the possibilities to
complete this thesis.I want to thank Sales Manager, Bajaj Allianz, Ghaziabad, Mr.
Rahul Tomer for giving me permission to commence this thesis in the first
instance, to do the necessary research work and for being my Company Guide.
With a deep sense of gratitude and humble submission I would like to express
my heartiest gratefulness to my Faculty Guide Lect. Rohit Duggal, whose help,
stimulating suggestions and encouragement helped me in all the times of research
for and writing of this thesis.
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Bajaj Allianz General Insurance Co. Ltd.
TABLE OF CONTENTS
2. SECTOR PROFILE 10
3. COMPANY PROFILE 21
4. OBJECTIVES OF STUDY 31
5. RESEARCH METHODOLOGY 33
6. DATA ANALYSIS & INTERPRETATION 39
7. OBSERVATIONS & FINDING 50
8. SUGGESTION 52
9. BIBLIOGRAPHY 54
10. QUESTIONNIARE 55
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INTRODUCTION
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INTRODUCTION
A marketing strategy is a process that can allow an organization to concentrate its (always
limited) resources on the greatest opportunities to increase sales and achieve a sustainable
competitive advantage.
Marketing strategy as a key part of the general corporate strategy marketing strategy is most
effective when it is an integral component of corporate strategy, defining how the organization
will engage customers, prospects and competitors in the market arena for success. It is partially
derived from broader corporate strategies, corporate missions, and corporate goals. They should
flow from the firm's mission statement. They are also influenced by a range of micro
environmental factors.
A strategy consists of well thought out series of tactics. While it is possible to write a tactical
marketing plan without a sound, well-considered strategy, it is not recommended. Without a
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sound marketing strategy, a marketing plan has no foundation. Marketing strategies serve as the
fundamental underpinning of marketing plans designed to fill market needs and reach marketing
objectives[3]. It is important that these objectives have measurable results.
A good marketing strategy should integrate an organization's marketing goals, policies, and
action sequences (tactics) into a cohesive whole. Many companies cascade a strategy throughout
an organization, by creating strategy tactics that then become strategy goals for the next level or
group. Each group is expected to take that strategy goal and develop a set of tactics to achieve
that goal. This is why it is important to make each strategy goal measurable.
Marketing strategies are dynamic and interactive. They are partially planned and partially
unplanned. See strategy dynamics.
Strategies based on market dominance - In this scheme, firms are classified based on their market
share or dominance of an industry. Typically there are three types of market dominance
strategies:
• Leader
• Challenger
• Follower
Porter generic strategies - strategy on the dimensions of strategic scope and strategic strength.
Strategic scope refers to the market penetration while strategic strength refers to the firm’s
sustainable competitive advantage.
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• Cost leadership
• Product differentiation
• Market segmentation
Innovation strategies - This deals with the firm's rate of the new product development and
business model innovation. It asks whether the company is on the cutting edge of technology and
business innovation. There are three types:
• Pioneers
• Close followers
• Late followers
Growth strategies - In this scheme we ask the question, “How should the firm grow?”. There are
a number of different ways of answering that question, but the most common gives four answers:
• Horizontal integration
• Vertical integration
• Diversification
• Intensification
• Prospector
• Analyzer
• Defender
• Reactor
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• INSURANCE NEED
Why is insurance necessary? The question contains the answer within itself. After all, life is
fraught with tensions and apprehensions regarding the future and what it holds for the individual.
Despite all the planning and preparation one might make, no one can accurately guarantee or pre-
dict how or when death might result and the circumstances that might ensue in its aftermath.
We are not saying that life and existence are constantly fraught with danger and uncertainty. But
then it is essential that you plan for the future. The chances for a fatality or an injury to occur to
the average individual may not be particularly high but then no one can really afford to com-
pletely disregard his or her future and what it holds.
People generally regard insurance as a scheme when and where you have to lose a lot to gain a
little. Nevertheless, insurance is still the most reliable tool an individual can use to plan for his
future.
And just why is it necessary to plan for the future with Insurance?
An Overview
Insurance business is divided into four classes:
1) Life Insurance business
2) Fire
3) Marine
4) Miscellaneous Insurance.
Life Insurers transact life insurance business; the rest is transacted by General Insurers. No
composites are permitted as per law.
The business of Insurance essentially means defraying risks attached to any activity over time
(including life) and sharing the risks between various entities, both persons and organisations.
Insurance companies (ICs) are important players in financial markets as they collect and invest
large amounts of premium. Insurance products are multi purpose and offer the following
benefits:
1. Protection to the investors
2. Accumulate savings
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SECTOR PROFILE
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The business of life insurance in India in its existing form started in India in the year 1818 with
the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important
milestones in the life insurance business in India are:
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of
protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a
capital contribution of Rs. 5 crore from the Government of India. The General insurance business
in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first
general insurance company established in the year 1850 in Calcutta by the British.
Some of the important milestones in the general insurance business in India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of
general insurance business.
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1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of
conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum solvency
margins and the Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general
insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and
grouped into four companies’ viz. the National Insurance Company Ltd., the New India
Assurance Company Ltd., the Oriental Insurance Company Ltd. And the United India Insurance
Company Ltd. GIC incorporated as a company.
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Bajaj Allianz General Insurance Co. Ltd.
INSURANCE SECTOR
The opening up of Insurance sector was a part of the on going liberalization in the financial
sector of India. The changing face of the financial sector and the entry of several companies in
the field of life and non life Insurance segment are one of the key results of these liberalization
efforts. Insurance business by way of generating premium income adds significantly to be the
GDP. Over the past three years, more than thirty companies have expressed interest in doing
business in India. The IRDA (Insurance Regulatory Development Authority) is the regulatory
authority, which looks over all related aspects of the insurance business. The provisions of the
IRDA bill acknowledge many issues related to insurance sector. The IRDA bill provides
guidance for three levels of players - Insurance Company, Insurance brokers and Insurance
agent. Life Insurance sector is one of the key areas where enormous business potential exists. In
India currently the life insurance premium as a percentage of GDP is 1.3 % against, 5.2 per cent
in the US.
General Insurance
General Insurance is another segment, which has been growing at a faster pace. But as per the
current comparative statistics, the general insurance premium has been lower than life insurance.
General Insurance premium as a percentage of GDP was a mere 0.5 'per cent in 1996. In the
General Insurance Business, General Insurance Corporation (GIC) and its four subsidiaries viz.
New India Insurance, Oriental Insurance, National Insurance and United India Insurance, are
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Bajaj Allianz General Insurance Co. Ltd.
doing major business. The General Insurance Industry has been growing at a rate of 19 percent
per year.
The entry of several private insurance companies, particularly international insurance companies,
through joint ventures, will speed up the process of insurance mobilization. The competition will
unleash new schemes and benefits, which will give consumers a better Chance to save as well as
insure. The regulatory system in India is relatively new and takes some more time to make the
Insurance sector a perfectly competitive one. Insurance Regulatory Authority of India issued
regulations on 15 subjects which included appointed. Actuary, actuarial report, Insurance agents,
Solvency margins, reinsurance, registration of Insurers, and obligation of insurers to rural and
social sector, investment and accounting procedure. The reform in Insurance in India is guided
by factors like availability of a variety of products at a competitive price, improvement in the
quality of customer services etc. Also the employment opportunities in the Insurance sector wil1
increase as major players set their business plans in India. The policy of the government to open
up the financial sector and the Insurance sector is expected to bring greater FDI inflow into the
country. The increase in the investment limit in this vital sector has generated considerable
business interests among the foreign Insurance companies" Their entry wil1 certainly change the
Insurance sector considerably.
In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor R.N.
Malhotra was formed to evaluate the Indian insurance industry and recommend its future,
direction. The Malhotra committee was set up with the objective of complementing the reforms
initiated in the financial sector.
In 1994, the committee submitted the report and some of the key recommendations included:
Structure:
1. Government stake in the insurance Companies to be brought down to 50%.
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Bajaj Allianz General Insurance Co. Ltd.
2. Government should take over the holdings of GlC and its subsidiaries so that these
subsidiaries can act as independent corporations.
Competition:
1. Private Companies with a minimum paid up capital of Rs. 1 bn should be allowed to enter the
industry.
2. No Company should deal in both Life and General Insurance through a single entity.
3. Foreign companies may be allowed to enter the industry in collaboration with the domestic
companies.
5. Only one State Level General Insurance Company should be allowed to operate in each state.
Regulatory Body:
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Investment:
1.Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to
50%.
2. GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings
to be brought down to this level over a period of time.)
Customer Service:
1. LIC should pay interest on delays in payments beyond 30 days.
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Bajaj Allianz General Insurance Co. Ltd.
The committee emphasized that in order to improve the customer Services and increase the
coverage of the insurance industry should open up to competition. But at the same time, the
committee felt the need to exercise caution as any failure on the part of new players could ruin
the public confidence in the industry. Hence, it was decided to allow competition in a limited
way by stipulating the minimum capital requirement of Rs. 100 crores. The committee felt the
need to provide greater autonomy to insurance companies in order to improve.
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Bajaj Allianz General Insurance Co. Ltd.
General Insurance
Life Insurance
New Entrants
ICICI Prudential Life Insurance Ltd. Bajaj Allianz General Insurance Company
Ltd.
Tata AIG Life Insurance Corporation Ltd. Reliance General Insurance Company Ltd.
ING Vysya Life Insurance Corporation Ltd. Tata AIG General Insurance Company Ltd.
Om Kotak Mahindra Life Insurance Royal Sundaram Alliance Insurance
Corporation Ltd. Company
MaxNewYork Life Insurance Ltd Ltd.
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Bajaj Allianz General Insurance Co. Ltd.
MARKET SHARE
In the FY2008 ICICI Lombard and Bajaj Allianz have witnessed aggressive growth by
making the retail segment their target segment ,aggressive growth strategies and huge
distribution network.The general insurance industry has witnessed the entry of many non-
traditional players .IRDA has issued a license to the Rajan Raheja Group(RRG) for setting
up a general insurance joint veture with Australia’s QBE Insurance Group.Last two years
have seen the emergence of special institutions,such as ECGC,Star Health&Allied
Insurance ,Appolo DKV and Agriculture Insurance Co.
Motor insurance has the biggest share in general insurance market and show a high growth
over three years. Corporate ex-health shown a low depression in Fy 2006-07 and high
depression in Fy2007-08.Health insurance shows positive trend in all these FY’s.
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Bajaj Allianz General Insurance Co. Ltd.
COMPANY PROFILE
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Bajaj Allianz General Insurance Co. Ltd.
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv
Limited (recently demerged from Bajaj Auto Limited) and Allianz SE. Both enjoy a reputation
of expertise, stability and strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and Development Author-
ity (IRDA) certificate of Registration on 2nd May, 2001 to conduct General Insurance busi-
ness (including Health Insurance business) in India. The Company has an authorized and paid
up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held
by Allianz, SE.
As on 31st March 2009, Bajaj Allianz General Insurance maintained its premier position in
the industry by achieving growth as well as profitability. The company garnered a premium
income of Rs. 2866 crore, achieving a growth of 11 % over the last year. Bajaj Allianz has
made a profit before tax of Rs. 149.8 crore and has become the only private insurer to cross
the Rs.100 crore mark in profit before tax in the last three years. The profit after tax was Rs.95
crores, which is also the highest by any private insurer.
Bajaj Allianz today has a countrywide network connected through the latest technology for
quick communication and response in over 200 towns spread across the length and breadth of
the country. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are in-
terconnected with the Head Office at Pune.
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
Mission
As a responsible, customer focused market leader, we will strive to understand the insurance
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Bajaj Allianz General Insurance Co. Ltd.
needs of the consumers and translate it into affordable products that deliver value for money.
Achievements
Bajaj Allianz has received "iAAA rating, from ICRA Limited, an associate of Moody's
Investors Services, for Claims Paying Ability.This rating indicates highest claims paying
ability and a fundamentally strong position
Bajaj Allianz General Insurance has received the prestigious “Business Leader in General
Insurance”, awarded by NDTV Profit Business Leadership Awards 2008. The company was
one of the top three finalists for the year 2007 and 2008 in the General Insurance Company of
the Year award by Asia Insurance Review.
Company’s History
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Bajaj Allianz General Insurance Co. Ltd.
Allianz AG:
Allianz group was founded in 1890 and is one of the world's leading insurance companies with
over 100 year's experience in insurance and related services. It is also the largest insurer in
Europe. Allianz group has multi-local structure and presence in over 70 countries. The key
business areas of Allianz group include General Insurance (property, engineering, marine, motor,
casualty and miscellaneous), Reinsurance, Risk Management, Life & health insurance, Asset
Management and Pension Funds Management.
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Bajaj Allianz General Insurance Co. Ltd.
o Personal Accident
o Health Guard
o Critical Illness
o Burglary Insurance
o Householders Insurance
o Travel Companion
o Office package
o Money Insurance
o Public Liability
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Bajaj Allianz General Insurance Co. Ltd.
Despite conditions which were not conducive for growth of gross premium, the company
managed to maintain a growth rate which was more than twice that of the market. The
company’s gross written premium (excluding share of premium from the IMTPIP), grew by
33.3% during 2007-08 and, despite intense price competition, company maintained its second
position among the private sector companies in terms of gross written premium. The market
share of company (excluding premium of specialized insurers) increased from 7.2% in 2006-07
to 8.5% in 2007-08. Including the share of inward reinsurance business from the IMTPIP, the
growth rate would have been 43.0%. During 2007-08, company clocked gross written premium
of Rs. 24,045 Mn excluding share of business from the IMTPIP as compared to Rs 18,033 Mn in
2006-07. Including share of inward business from the IMTPIP, the gross written premium
amounted to Rs. 25,780 Mn. On account of company’s policy of steadily increasing it’s retention
in line with it’s capital base, the net earned premium for the year (excluding net premium from
inward business of the IMTPIP), rose to Rs. 13,266 Mn, an increase of 58.6% over the previous
year of Rs. 8,366 Mn. Including the net premium arising out of the share of business from the
IMTPIP, the net premium for the year 2007-08 was Rs. 14,134 Mn. Although de-tariffication had
an adverse effect on the price per policy, the number of policies sold continued to grow. In the
year under review, company sold 6.61 Mn. policies as against 4.90 Mn. policies sold in the
previous year. This growth indicates that despite severe price competition, more customers
preferred company’s service offerings, drawn by it’s strong brand image, convenience of buying
and satisfaction with its service levels. The total incurred claims for the current year including
actuarial provisions but excluding share of claims of the IMTPIP, were Rs. 8,375 Mn. as against
Rs. 5555 Mn. in the previous year. The number of claims reported during the year was 413,281
as compared to 309,160 in the previous year.
As on 31st March 2008, Bajaj Allianz General Insurance maintained its premier position in the
industry by garnering a premium income of Rs. 2578 crore, achieving a growth of 43 % over the
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Bajaj Allianz General Insurance Co. Ltd.
last year.Bajaj Allianz has made a profit before taxes of Rs. 167 crore and is the first company to
cross the Rs.100 crores mark in profit after tax by generating Rs. 105 crores.
In the first quarter of 2008-09, the company garnered a gross premium of Rs.733.53 crores
against Rs.573.73 core last year for the same period registering a growth of 28%.
Bajaj Allianz today has a countrywide network connected through the latest technology for quick
communication and response in over 200 towns spread across the length and breadth of the coun-
try. From Surat to Siliguri and Jammu to Thiruvananthapuram, all the offices are interconnected
with the Head Office at Pune.
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Bajaj Allianz General Insurance Co. Ltd.
The company has earned a Profit Before Tax of Rs. 1,679 Mn for the year ended 31st March
2008, an increase of 43.5% over the previous year profit of Rs. 1,170 Mn. The Profit Before Tax
includes a provision of Rs. 361 Mn towards provisions for losses from the IMTPIP. The net
profit for the year, after provisions for reported losses from the IMTPIP, was Rs. 1,056 Mn as
against Rs. 754 Mn reported in 2006-07, which is an increase of 40.0%. In a year when prices of
insurance fell significantly, increasing its profitability whilst improving the market share has
been a significant achievement for your Company. It is a matter of pride for Bajaj Allianz that it
have become the benchmark for other companies in the market in so far as underwriting
profitability and return on equity are concerned. The Earnings per share (EPS) for the year ended
31st March 2008 was Rs. 9.59/- (compared to Rs. 6.85/- for the previous year) and the book
value of equity shares on 31st March 2008 was Rs. 52.15/- per share (as against Rs. 37.40/- per
shares as on 31st March 2007).
516
470
217
1056
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Bajaj Allianz General Insurance Co. Ltd.
Future prospects/plans
The Indian general insurance industry detarrification to start a new growth story.Share of motor
insurance was 43.1% of the total general insurance premium in April-Dec 2008.Motor insurance
is expecting to increase with motor sale,this year, there is a sharp rise in the auto industry
(passenger car sales increased at a rate CAGR of 17% during FY08) as income level
rise.However last year and the initial months of this year showed a negative trend in sales but as
the market is recovering ,auto sales showed a positive trend. Post detarrifictio, in January ‘07
,drop in motor premiums was expected ,but rise in car sales has helped boost total motor
premiums.Recent hike of 70-150% in loss making motor third party liability segment will help
reduce losses.Its very important time for Bajaj Allianz to formulate new plans strategies and to
capture more marketing share.
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Bajaj Allianz General Insurance Co. Ltd.
OBJECTIVES OF THE
STUDY
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Bajaj Allianz General Insurance Co. Ltd.
• To study the sales Strategy of field force of Bajaj Allianz General Insurance.
• To study the process of selling of Insurance Policies by Adivsors.
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RESEARCH
METHODOLOGY
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RESEARCH METHODOLOGY
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AREA OF STUDY
The area of the study related with getting correct information of generalinsurance
policies of different peoples in the region of Ghaziabad.
SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It
refers to the techniques or the procedure the researcher would adopt in selecting items for
the sample. Sample design may as well be drawn from the population to be included in
the sample i.e. the size of the sample. Sample design is determined before data are
collected.
During my study I have taken 50 insurance care consultants as the size of sample.
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Bajaj Allianz General Insurance Co. Ltd.
TOOLS USED
To know the response, I have used the questionnaire method. If one wish to find what
insurance care consultants think or know, the logical procedure is to ask them. This has
led marketing researchers to use the questionnaire technique for collecting data more than
any other method.
In this method questionnaire were distributed to the respondents and they were asked to
answer the questions in the questionnaire. The questionnaire were structured non
disguised questionnaire because the question which the questionnaire contained, were
arranged in a specific order besides every question asked were logical for the study, no
question can be termed as irrelevant.
The questionnaire was non-disguised because the questionnaire was constructed so that
the objective is clear to the respondent. The respondents were aware of the objective.
They knew why they were asked to fill the questionnaire.
With the help of following techniques, which are using by Bajaj Allianz I analyse that the
how techniques of sales promotion are useful.
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DATA COLLECTION
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DATA ANALYSIS
&
INTERPRETATIONDATA ANALYSIS
AND INTERPRETATION
(Based on survey conducted for 50 insurance care consultants)
Interpretation:
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Bajaj Allianz General Insurance Co. Ltd.
According to the study 40% insurance care consultants prefer display technique,20%
insurance care consultants prefer catalogues, 16% to the exhibition, 14% to the door to
door demo and 10% insurance care consultants prefer price off technique.
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Interpretation:
According to the study 36% insurance care consultants say door to door demo techniques
giving good response, 18% insurance care consultants say to the display & exhibition,
16% to the catalogues & 12% say to the price off technique.
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Interpretation:
According to the 46% insurance care consultants, catalogue technique is economically
beneficial. 22% to the door-to-door demo and 12% insurance care consultants prefer price
off technique.10% to the exhibition & display technique.
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Bajaj Allianz General Insurance Co. Ltd.
Interpretation:
According to the study 38% insurance care consultants say display technique requires
less time in sales promotion. 22% to the display technique, 16% insurance care
consultants vote to the catalogues, 14% insurance care consultants vote to the 10% to the
exhibition.
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Options Response in %
Display 18%
Door to Door Demo 30%
Exhibition 10%
Catalogue 34%
Price Off 8%
Interpretation:
According to the study 34% insurance care consultants say that the catalogues is easily
manageable, 30% to the door to door demo,18% insurance care consultants prefer display
technique 10% to the exhibition, and 8% insurance care consultants say to the price off
technique.
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Bajaj Allianz General Insurance Co. Ltd.
Interpretation:
According to the study 40% insurance care consultants vote to the price off technique is
require less knowledge to execute.22% insurance care consultants prefer catalogues, 14%
to the display and 12% to the exhibition & door to door.
Interpretation:
According to the study 42% insurance care consultants vote to the door-to-door technique
that it requires more knowledge to execute than others. 24% to the exhibition, 20% to the
display technique, 10% insurance care consultants give vote to the catalogues and 4%
insurance care consultants prefer price off technique.
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Interpretation:
According to the study 46% insurance care consultants say yes that the price off are
necessary for sales promotion. 40% say no and 14% say can’t say.
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Q.9 Do you think that sales promotion program that is presently undertaken by Bajaj
Allianz. are satisfactory?
Options Responses in %
Yes 34%
No 46%
Can’t say 20%
Interpretation :
According to the study 46% insurance care consultants say No that the sales promotion
program that is presently undertaken by Bajaj Allianz are satisfactorily 36% say Yes and
20% say can’t say.
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Bajaj Allianz General Insurance Co. Ltd.
Interpretation :
According to the study 72% insurance care consultants say yes installment offers are 22%
say no and 6% say can’t say.
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OBSERVATIONS
&
FINDINGS
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Bajaj Allianz General Insurance Co. Ltd.
• This sales promotion process was very much satisfying for me not only practically
and academically but it also helped me in developing my communication skill and
enriched my knowledge also.
• I have come to know about the importance of marketing especially with regard to
Sales Promotion on the most renowned organization like Bajaj Allianz. Especially
because of emergence of many competitor with excellence in services &
competitive product. The base of this chapter conclusion is on the data analysis or
what we say findings.
• I have finding from the insurance care consultants of the Bajaj Allianz. and their
insurance policies on my topic.
• When the insurance care consultant is asked why they are dealing in this particular
insurance policies (product) they mostly stressed on company’s image. They also
said that all income and age group of customers are attracted towards their product
but buyers are mainly from higher and middle-income group.
• Insurance care consultants said that their sale is decreased in the last years because
of negative trend in market. Insurance care consultants said that the customer are
curious in getting insurance policies because they want more discounting on the
products and low claim time after any accident.
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Bajaj Allianz General Insurance Co. Ltd.
SUGGESTIONS
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Bajaj Allianz General Insurance Co. Ltd.
SUGGESTIONS
Here are some suggestions, which may help to strengthen the firm further
• Many of the insurance care consultants of the Bajaj Allianz. Has the lack of good
communication skills and training. So training should be easy.
• Bajaj Allianz. Should use new techniques of sales promotion.
• People must be made aware of the benefits of the policies of Bajaj Allianz.
• All the details about the company should be given to the customers.
• The company must try to find new markets especially in the rural areas.
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BIBLIOGRAPHY
Books
• Kothari C.R., (1999) Research Methodology, Wishwa Prakashan
• Kotler P. and Armstrong G., (2005) Principles of Marketing New Delhi, Prentice
Hall of India
• Kotler P., (1999)Marketing Management Analysis, Planning, Implementation and
Control, New Delhi, Prentice Hall of India
• Saxena Rajan, (1999) Marketing Management, Tata McGraw Hill
Websites:
• www.bajajallianz.com
• www.indiainfoline.com
• www.irdaindia.org
• www.thehindubusinessline.com
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Bajaj Allianz General Insurance Co. Ltd.
QUESTIONNAIRE
Name : _____________________________________
Address : _____________________________________
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Bajaj Allianz General Insurance Co. Ltd.
Q.8 Price off and installment offers are necessary for sales promotion?
A) Yes B) No
C) Can’t say
Q.9 Do you think that sales promotion program that is presently undertaken by Bajaj
Allianz. are satisfactory?
A) Yes B) No
C) Can’t say
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