SUMMER INTERNSHIP REPORT

IN
PARTIAL FULFILLM ENT OF THE AWARD OF
MASTERS IN BUSINESS ADMINISTRATION
(2016-2018)\
on
CUSTOMER PERCEPTION TOWARDS BHARTI AXA LIFE INSURANCE
Co. Ltd.
at

BHARTI AXA LIFE INSURANCE Co. Ltd.

Submitted by;
HARIKESH
MBA
Specialization- Marketing& Human Resource
Under Guidance of:

Industry Guide; Faculty Guide;

Mr. Upendra Singh Dr. Satish Chandra Ojha
Head Business Manager Asst. Professor
Bharti AXA Life Insurance STEP HBTI

SCIENCE AND TECHNOLOGY ENTREPRENEUR’S PARK

HARCOURT BUTLER TECHNOLOGICAL INSTITUTE,
NAWABGANJ KANPUR – 208002
1
 DECLARATION

I,HARIKESH, student of (STEP HBTI), hereby declare that all the information, facts and figures in this report
are based on my own knowledge and experience during my summer training in BHARTI AXA LIFE
INSURANCE Co. Ltd.

I hereby also declare that the work done by me has not been copied, it is my original work.

HARIKESH
MBA-MARKETING & HR
(2016-2018)

2
 ACKNOWLEDGEMENT

I am very much thankful to the management of the Bharti AXA life insurance Company Ltd. for giving me an
opportunity to do this project as a part of my MBA program. The completion of this project is a successful and
satisfactory outcome of so many helping hands. I think it proper to express my deep obligation to my advisers.

First and foremost, I am especially thankful to Mr. Upendra Singh (Head Business Manager, Bharti AXA Life
Insurance company Ltd., Mall Road, Kanpur for giving me the opportunity to do my one and half month project
training in their esteemed organization.I also thankful to staff member of the organization for providing various
information for my purpose. Their suggestions are helping me in various stages.

I would also like to thank Dr. Satish Chandra Ojha, my faculty guide, who has been constant source of help
and inspiration to me and for her guidance without which the work could not has been possible. Above all my
regards and thanks are due to my parents, family members and friends for their continuous support during the
project.

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 TABLE OF CONTENT

1.1 Synopsis 5-6

1.2 Objective 7
2 Chapter-I 8
2.1 Introduction 9-11
3 Chapter-II 12
3.1 Brief Introduction of Insurance 13-22
3.2 Promoters 23-35
3.3 Introduction of company & product 36-47
3.4 Features &benefit 40-41
3.5 Organization Structure 54-57
3.6 Competitors 58-59
3.7 Balancesheet 60
3.8 SWOT analysis 61-62
3.9 Achievement & Awards 63-64
3.10 Future Prospects 66-67
4 Chapter-III 68
4.1 Research methodology 68-70
4.2 Responses of questions 71-84
5 Chapter-IV & V 85
5.1 Findings 86
5.2 Conclusion 87
5.3 Recommendation 88
5.4 Bibliography 89-90
5.5 Annexure 91-95

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 SYNOPSIS OF THE REPORT

STEP-HBTI
-----KANPUR-----

SUMMER INTERNSHI REPORT

Student Name HARIKESH

Program MBA – marketing and HR
Company's Name and Bharti AXA Life Insurance Co. Ltd
Address Mall Road, Kanpur
208001
Industry Guide
Name Upendra Singh
Designation Head Business Manager

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 Project Information

1) Project Duration : (45 Days)

a) Date of Summer Internship commencement (01/06/2017)
a) Date of Summer Internship Completion (20/07/2017)

2) Topic

CUSTOMERS PERCEPTION TOWARDS BHARTI AXA LIFE INSURANCE Co. Ltd.

3) Project Objective

1- Measure the effectiveness of company by measuring customer acceptance level.

2- To study the attitude of the Existing customer of Bharati Axa Life Insurance Co. Ltd.
3- To determine which factors customer look for while investing in Bharati Axa Life Insurance Co.Ltd.

4) Methodology to be adopted

Tool of data collection; Questionnaire Sample size-75, Sampling Area- Kanpur Sampling Technique- simple
random sampling Data analysis- Bar graph & pie charts

5) Brief Summary of project(to be duly certified by the industry guide)

For the fulfillment of the project objective I would primarily study about the company and the insurance
industry to gain a strong understanding of the market then, I would develop my questionnaire and would further
proceed with my project proceedings for the fulfillment of my project objective.

Signature Signature Signature

(Student) (Industry Guide) (Faculty Guide)

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 THE OBJECTIVE OF THE PROJECT

1- Measure the effectiveness of company by measuring customer acceptance level.

2- To study the attitude of the Existing customer of Bharati Axa Life Insurance Co. Ltd.
3- To determine which factors customer look for while investing in Bharati Axa Life Insurance Co.Ltd. .

My target was individual’s house, all the malls, local markets, local shops, dealers, the whole department of life
insurance companies etc.

Individual objective:
To interview prospective candidates to be recruited as LA, assist Managers of Agency in selecting the
candidates, make arrangements for BOP’s and to assist in their training, coding and licensing thereby increasing
the sales of the company.

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 CHAPTER 1

INTRODUCTION
THEORETICAL PRESENTATION OF THE TOPIC

8
 INTRODUCTION

As a part of Master of Business Administration course of Step-hbti Kanpur UttarPradesh, and for the fulfillment
of this course, I had to go through a six to eight weeks of summer training in a reputed organization, which
would lead to the development of my managerial skills and gives me a glimpse of practical knowledge and
market dynamics.

I joined Bharti AXA Life Insurance Co. Ltd. Kanpur Branch for the successful fulfillment of my summer
training program, and my tenure of summer internship program was from 01june 2017 to 23/July/2017.
Bharti AXA Life Insurance Co. Ltd. is one of the big insurance providers and project specialists’ .Founded in
India in 2006, Bharti AXA Life Insurance Co. Limited offers Insurance policies such as individual plans and
group plan for the customer.

Bharti AXA Life Insurance Co. Ltd. operations have been organized into three independent business-specific
clusters. Each of these has its own facilities for market coverage and service to customers. These different
business specific clusters are:

Individual Plans :

 Bharti AXA Life Guarantee Builder

 Bharti AXA Life Bright Stars
 Bharti AXA Life Spot Suraksha
 Bharti AXA Dream Life Pension
 Bharti AXA Life Aspire Life
 Bharti AXA Life Invest Confident

 Bharti AXA Life Wealth Confident

 Bharti AXA Life Future Confident II

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  Bharti AXA Life Save Confident
 Bharti AXA Life Secure Confident

Group Plans:

 Bharti AXA Life – Credit Secure

 Bharti AXA Life - Sanjeevani
 Bharti AXA Life – Swarthy Sanjeevani
 Bharti AXA Life - Sanjeevani
 Bharti AXA Life Mortgage Credit Shield
 Bharti AXA Life Credit Shield

I was associated with the Bharti AXA Life Insurance Co. Ltd. which provides insurance policies for customers.
The research work topic assigned to me i.e. the subject matter of study was “Consumer Perception towards
Bharti AXA Life Insurance Co. Ltd. vis-à-vis Competitive Brands”.
This topic was assigned to me to judge that what people do think and feel about Bharti AXA Life Insurance Co.
Ltd. as a brand in market in respect to its competitive brands.

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The objective of the research work is to find out:

 The level of awareness of customers about Bharti Axa Life Insurance Co. Ltd.
 The factors which influences customer's decision to purchase an insurance policies.
 The acceptance level of customers towards Bharti AXA Life Insurance Co .Ltd and its competitive
brands.
 What customers think and feel about Bharti AXA Life Insurance Co. Ltd. and other competitive brands.

To achieve the objective more efficiently a strong understanding of the market was necessary in terms of
offerings of competitive brands at different policies etc.; so to gain this information prior to starting the survey
work, I went to the market in Kanpur city to access the current trends in market place.

A lot of information which I received from my immediate head at Bharti AXA Life Insurance Co. Ltd. also
helped me a lot to come to my conclusions and recommendations.

After gathering the required information I started with my survey work; the survey was conducted in the city of
Kanpur and the sample size chosen was 75. The tool of data collection used was questionnaire and personal
interview of some respondents from the sample were also taken to gain exact results.

A sincere effort has been made to present the information in a very lucid manner.

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 CHAPTER II

ORGANIZATIONAL PROFILE OF THE COMPANY

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 BRIEF INTRODUCTION OF INSURANCE

 What is insurance?
 Different types of insurance
 Need of life insurance

 History of insurance sector in INDIA

 Role of insurance in economic development.

INSURANCE INDUSTRY

Insurance industry is a booming sector. The business of insurance is related to the protection of the economic
value of asset. Every asset has a value. The asset would have been created through the efforts of the owner, in
the expectation that, either through the income generated there from or some other output, some of his needs
would be met. There is a normally expected life time for the asset during which time it is expected to perform.
Insurance is a mechanism that helps to reduce such as adverse consequences.

WHAT IS INSURANCE?

Basic aim of the insurance plan satisfies the following objectives:-

 Protection of economic value of assets.
 Mechanism to reduce impact of adverse events on value generating assets.

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Types of insurance

Insurance is generally classified into three main categories:

1. Life Insurance

2. Health Insurance.

3. General Insurance

To get insurance an individual or an organization can approach to Insurance Company directly, through
Insurance agent of the concerned company or through intermediaries.

Figure 1

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Life Insurance
life insurance is an insurance against the loss of a life. Whereas a general insurance is an insurance that protects
against more general things. To add to the confusion, there are also a variety of different products that full
under the category of life insurance or general insurance.

Life insurance is a type of insurance that insures against the loss of life. Most types of life insurance work
on a similar notion, even if their details might be different. Here, the life of a person, typically call the insured
is protected against loss. This means that when that person will die, the insuring company will pay an agreed
amount to the person’s family in order to help them with financial difficulties that may arise after the person’s
death. In order to avail this sum, the insured must pay a premium to the insuring company through their
lifetime, or for the duration specified in the policy.

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Health Insurance

Health insurance policy gives you access to the best medical care and treatment while being financially
protected. In case of a health emergency, your mediclaim health care policy guarantees peace of mind and
ensures that you and your family are protected from medical expenses while receiving the best treatment at a
hospital of your choice.

Policyholders can avail multiple benefits like pre and post hospitalization expenses, cashless treatment, room
rent, ambulance charges, and much more.

The health insurance premium amount mainly depends on the sum insured amount as well as the number of
members covered under the health insurance policy.

Bharti axa offers a range of affordable health insurance plans. Health insurance plans by Bharati axa are
custom made to protect you against the rising healthcare costs. We have the highest claim settlement ratio
among private insurers. We have medical insurance plans for all categories.

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General Insurance

General insurance covers insurance of property against fire, burglary, theft; personal insurance covering health,
travel and accidents; and liability insurance covering legal liabilities.

This category of insurance virtually covers all forms of insurance except life. Other covers may include
insurance against errors and omissions for professionals, credit insurance etc.

Common forms of general insurance are motor, fire, home, marine, health, travel, accident and other
miscellaneous forms of non-life insurance.

Unlike life insurance policies, the tenure of general insurance policies is normally not that of a lifetime.

The usual term lasts for the duration of a particular economic activity or for a given period of time. Most
general insurance products are annual contracts. There are however, a few products which have a long term.

The functions of Insurance can be bifurcated into three parts:

1. Primary Functions
2. Secondary Functions
3. Other Functions

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The primary functions of insurance include the following:

Provide Protection - The primary function of insurance is to provide protection against future risk, accidents
and uncertainty. Insurance cannot check the happening of the risk, but can
certainly provide for the losses of risk. Insurance is actually a protection against economic loss,
by sharing the risk with others.

Collective bearing of risk - Insurance is a device to share the financial loss of few among many others.
Insurance is a mean by which few losses are shared among larger number of people. All the insured contribute
the premiums towards a fund and out of which the persons exposed to a particular risk is paid.

Assessment of risk - Insurance determines the probable volume of risk by evaluating various factors that give
rise to risk. Risk is the basis for determining the premium rate also.

Provide Certainty - Insurance is a device, which helps to change from uncertainty to certainty. Insurance is
device whereby the uncertain risks may be made more certain.

The secondary functions of insurance include the following:

Prevention of Losses - Insurance cautions individuals and businessmen to adopt suitable device to prevent
unfortunate consequences of risk by observing safety instructions; installation of
automatic sparkler or alarm systems, etc.Prevention of losses causes lesser payment to the assured by the
insurer and this will encourage for more savings by way of premium. Reduced rate of premiums stimulate for
more business and better protection to the insured. Small capital to cover larger risks - Insurance relieves the
businessmen from security investments, by paying small amount of premium against larger risks and
uncertainty.

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Contributes towards the development of larger industries –
Insurance provides development opportunity to those larger industries having more risks in their setting up.
Even the financial
institutions may be prepared to give credit to sick industrial units which have insured their assets
including plant and machinery.

The other functions of insurance include the following:

Means of savings and investment - Insurance serves as savings and investment, insurance is a compulsory
way of savings and it restricts the unnecessary expenses by the insured's For the purpose of availing income-tax
exemptions also, people invest in insurance.

Source of earning foreign exchange - Insurance is an international business. The country can earn foreign
exchange by way of issue of marine insurance policies and various other ways. Risk Free trade - Insurance
promotes exports insurance, which makes the foreign trade risk free with the help of different types of policies
under marine insurance cover.

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 BRIEF HISTORY OF INSURANCE SECTOR IN INDIA

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. The story of insurance is probably as old as
the story of mankind. The same instinct that prompts modern businessmen today to secure themselves against
loss and disaster existed in primitive men also. They too sought to avert the evil consequences of fire and flood
and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept
of insurance is largely a development of the recent past, particularly after the industrial era – past few centuries
– yet its beginnings date back almost 6000 years.

Life Insurance in its modern form came to India from England in the year 1818. Oriental Life Insurance
Company started by Europeans in Calcutta was the first life insurance company on Indian Soil. All the
insurance companies established during that period were brought up with the purpose of looking after the needs
of European community and these companies were not insuring Indian natives.

 Bombay Mutual Life Assurance Society heralded the birth of first Indian life insurance company in the
year 1870, and covered Indian lives at normal rates.
 Bharat Insurance Company (1896) was also one of such companies inspired by nationalism. The
Swedish movement of 1905-1907 gave rise to more insurance companies.
 The United India in Madras, National Indian and National Insurance in Calcutta and the Co-operative
Assurance at Lahore were established in 1906.
 In 1907, Hindustan Co-operative Insurance Company took its birth in one of the rooms of the Jorasanko,
house of the great poet RabindraNath Tagore, in Calcutta.

 The Parliament of India passed the Life Insurance Corporation Act on the 19th of June 1956, and the
Life Insurance Corporation of India was created on 1st September, 1956, with the objective of spreading
life insurance much more widely and in particular to the rural areas with a view to reach all insurable
persons in the country, providing them adequate financial cover at a reasonable cost.

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Some of the important milestones in the life insurance business in India are

1. 1850Non life insurance debuts with triton insurance company.

2. 1870 Bombay mutual life assurance society is the first Indian owned life insurer.
3. 1912 The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance
business.
4. 1928 The Indian Insurance Companies Act enacted to enable the government to collect statistical
information about both life and non-life insurance businesses.
5. 1938 Earlier legislation consolidated and amended to by the Insurance Act with the objective of
protecting the interests of the insuring public.
6. 1956, 245 Indian and foreign insurers and provident societies taken over by the 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.

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Insurance sector reforms

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.

The reforms were aimed at “creating a more efficient and competitive financial system suitable for the
requirements of the economy keeping in mind the structural changes currently underway and recognizing that
insurance is an important part of the overall financial system where it was necessary to address the need for
similar reforms.

The winter session of the India parliament concluded on December 20,2013. Against the backdrop of the
slowing growth rate and demands from the investment community for economic reforms, one critical piece of
legislation that was expected to be considered by the parliament was The Insurance Laws (Amendment) Bill,
2008 (the "Bill").

The government’s approval to increase the foreign direct investment limit for the insurance sector from 26 per
cent. to 49 per cent, had also given rise to the expectation that the Bill would be passed at the winter session of
the parliament.

In 2004, the Law Commission recommended a comprehensive reform of the Insurance Act, 1938 (the
“Insurance Act”). In 2005, the Narasimhan Committee made further recommendations for changes to the
Insurance Act.

The Bill, which amends the Insurance Act, 1938, the General Insurance Business (N ationalisation) Act, 1972
and the Insurance Regulatory and Development Authority ("IRDA") Act, 1999 and incorporates the
recommendations of the Law Commission and the Narasimhan Committee has been up for consideration by the
parliament since 2008.

Lack of political consensus has led to yet another hiatus in the passage of the Bill into law. Had the Bill been
passed at the recently concluded session of parliament, it may perhaps have reinforced the message to the global
investment community that economic reforms are underway.

KEY FEATURES OF THE BILL

• Increased foreign investment: The bill proposes an increase in the foreign investment ceiling from 26 per cent
to 49 per cent.

• Capital raising: The Bill provides for general insurance companies to raise funds from the capital markets with
the permission of the government. Under the current laws, insurance companies may raise only equity share
capital.

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• Lloyd's, the society of underwriters based in London is to be allowed to do
business in India through joint ventures through Indian partners and to act
as reinsurers through their branches in India. Since Lloyds is not a company but an insurance market, further
clarity is needed as to whether the intention is to allow individual members to operate in the country.

• Special Economic Zone ("SEZ"): The Bill proposes to allow foreign insurers to operate in SEZs without
regulatory control but allows the government in its discretion to allow any of the provisions of the Insurance
Act to be applicable to such insurers.

The Bill also proposes, amongst others, to provide greater protection to the insured by imposing penalties to
those insurers who fail to meet their obligations with respect to underwriting third party motor insurance or
other insurance policies in rural sectors and allows for the partial assignment of insurance policies. The Bill also
does away with the existing requirement for Indian promoters of an insurance company to reduce their stake to
26 per cent. over a period of ten years.

THEINSURANCESECTOR:

Currently, there are 52 insurance companies operating in India. Out of these 52 companies, 1 is in the
reinsurance business, 24 are in the life insurance business and 27 are in the non-life insurance business.
The General Insurance Corporation is the sole national reinsurer in the country.

Insurance penetration (measured as a ratio of the premium to the GDP) and insurance density (measured as a
ratio of the premium to the total population) in India has been at significantly low levels in India compared to
its peers in Asia.

As of 2011, insurance penetration in the life insurance sector was 3.40 percent, whereas the penetration in
the non-life insurance sector was in the range of 0.55 per cent. to 0.75 per cent. Insurance density as of 2011
was USD 49.0 for the life insurance sector and USD 10.0 in the non-life sector.

The measure of insurance penetration and insurance density reflects the level of development of the insurance
sector in a country.

These low penetration levels suggest that the insurance sector in India has a promising potential for growth.
Additionally, a rising population, a growing economy, increased domestic savings and greater awareness of
insurance products are positive indicators for growth for the insurance industry.

The insurance industry in India does appear to be at a crossroad. A regulatory environment which is perceived
to be discouraging to innovation and competitiveness has stifled the ability of insurance companies to remain
profitable and seek ways to increase their product offerings.

It is prescient that the IRDA in its annual report stated that "Since the opening up of the Indian insurance sector
for private participation in 1999, India has reported an increase in insurance density for every subsequent year
and for the first time reported a fall in the year 2011."

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WHAT THE PASSAGE OF THE BILL INTO LAW WOULD MEAN

Indication that the government is focused on reforms: The passing of the Bill in parliament would be an
important reinforcement to the foreign investment community of India's commitment to financial and economic
reforms. It is important for the global business community to perceive India as a safe harbor for their capital.

Address capital requirements: The insurance business is a capital intensive business. The IRDA estimates that
if insurance companies are to improve insurance penetration and introduce new products and improve
distribution networks while maintaining and increasing their customer base, they will need approximately 612
billion rupees.

With a raise in the investment ceiling to 49 per cent., the insurance sector would be able to raise much needed
capital to grow and improve the value proposition to end customers and operational performance. Increasing the
ceiling for investment in the insurance sector is the best way to meet additional capital requirements. Also, like
water seeking its own level, any delay in the passage and implementation of the Bill may also result in capital
moving to other competitive markets.

Prospects for growth: India is expected to have a working population of 795.5 million by the year 2026.
Additionally, increasing incomes would also lead to greater disposable incomes which are often the target of
financial service providers like insurance companies. Also, as the population becomes more financially literate,
their appreciation of the benefits of insurance would be enhanced. With the wider participation of foreign
insurers in the Indian insurance industry, the potential for growth in the insurance sector be realized to a greater
degree.

Infrastructure investment: Another persuasive argument for the Bill to be passed is the need for investment in
the infrastructure sector. Infrastructure or its lack thereof is frequently cited as one of the biggest hurdles to
doing business in India. India's planning commission has projected a doubling of infrastructure investment to
$1,025 billion in the 12th Five Year Plan (2012-2017).

The government has set of target of $500 billion in infrastructure spending from the private sector. It is widely
anticipated that the reforms to the insurance sector once implemented would result in more capital flow into the
country which would lead to more investments by insurance companies in the infrastructure sector. The Bill
also complements the relaxations which the IRDA had effected to allow insurers to invest in the infrastructure
sector.

This information is intended as a general overview and discussion of the subjects dealt with. The information
provided here was accurate as of the day it was posted; however, the law may have changed since that date.

24
 This information is not intended to be, and should not be used as, a
substitute for taking legal advice in any specific situation. DLA Piper is not
responsible for any actions taken or not taken on the basis of this information. Please refer to the full terms and
conditions on our website.

ROLE OF INSURANCE IN ECONOMIC DEVELOPMENT

Insurance directly or indirectly plays a vital role in the economic development of the country through the
following means:-

Market Size

Government's policy of insuring the uninsured has gradually pushed insurance penetration in the country and
proliferation of insurance schemes are expected to catapult this key ratio beyond 4 per cent mark by the end of
this year, reveals the ASSOCHAM latest paper.

The number of lives covered under Health Insurance policies during 2015-16 was 36 crore which is
approximately 30 per cent of India's total population. The number has seen an increase every subsequent year as
28.80 crore people had the policy in the previous fiscal.

During April 2015 to March 2016 period, the life insurance industry recorded a new premium income of Rs
1.38 trillion (US$ 20.54 billion), indicating a growth rate of 22.5 per cent. The general insurance industry
recorded a 12 per cent growth in Gross Direct Premium underwritten in April 2016 at Rs 105.25 billion (US$
1.55 billion). The life insurance industry reported 9 per cent increase in overall annual premium equivalent in
April-November 2016. In the period, overall annual premium equivalent (APE)- a measure to normalise policy
premium into the equivalent of regular annual premium- including individual and group business for private
players was up 16 per cent to Rs 1,25,563 crore (US$ 18.76 billion) and Life Insurance Corporation up 4 per
cent to Rs 1,50,456 crore (US$ 22.48).

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Investment
The following are some of the major investments and developments in the Indian insurance sector.

 New York Life Insurance Company, the largest life insurance company in the US, has invested INR 121
crore (US$ 18.15 million) in Max Ventures and Industries Ltd for a 22.52 per cent stake, which will be
used by Max for investing in new focus areas of education and real estate.

 New York Life Investments, the global asset management division of New York Life, along with other
investors like Jacob Ballas, will own a significant minority ownership in Centrum Capital by being one
of the leading global investors in buying the available 30 per cent stake worth US$ 50 million of
Centrum Capital.

 State Bank of India has announced that BNP Paribas Cardiff is keen to increase its stake in SBI Life
Insurance from 26 per cent to 36 per cent. Once the foreign joint venture partner increases its stake to 36
per cent, SBI’s stake in SBI Life will get diluted to 64 per cent.

 Canada-based Sun Life Financial Inc plans to increase its stake from 26 per cent to 49 per cent in Birla Sun Life
Insurance Co Ltd, a joint venture with Aditya Birla Nuvo Ltd, through buying of shares worth Rs 1,664 crore (US$
244.14 million

Government Initiatives
The Union Budget of 2017-18 has made the following provisions for the Insurance Sector:

 The Budget has made provisions for paying huge subsidies in the premiums of Pradhan Mantri Fasal
Bima Yojana (PMFBY) and the number of beneficiaries will increase to 50 per cent in the next two
years from the present level of 20 per cent. As part of PMFBY, Rs 9,000 crore (US$ 1.35 billion) has
been allocated for crop insurance in 2017-18.

 By providing tax relief to citizens earning up to Rs 5 lakh (US$ 7500), the government will be able to
increase the number of taxpayers. Life insurers will be able to sell them insurance products, to further
reduce their tax burden in.

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The Government of India has taken a number of initiatives to boost the
insurance industry. Some of them are as follows:

 The Union Cabinet has approved the public listing of five Government-owned general insurance
companies and reducing the Government’s stake to 75 per cent from 100 per cent, which is expected to
bring higher levels of transparency and accountability, and enable the companies to raise resources from
the capital market to meet their fund requirements.

 The Insurance Regulatory and Development Authority of India (IRDAI) plans to issue redesigned initial
public offering (IPO) guidelines for insurance companies in India, which are to looking to divest equity
through the IPO route.

 IRDAI has allowed insurers to invest up to 10 per cent in additional tier 1 (AT1) bonds, that are issued
by banks to augment their tier 1 capital, in order to expand the pool of eligible investors for the banks.

 IRDAI has formed two committees to explore and suggest ways to promote e-commerce in the sector in
order to increase insurance penetration and bring financial inclusion

 Life insurance is a major instrument in mobilizing the savings of the people. These savings are
channeled into investments for economic groups.
 The strength of life insurance is in the fact that huge amounts are collected and pooled together for the
benefit of the policy holders.
 The insurance company is in the role of fiduciary- that all decision be made for the benefit of the
community.

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28
Insurance penetration (%)
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THE PROMOTERS

One of India’s leading business groups, Bharti Enterprises has interests in telecom, agri business, financial
services, retail and manufacturing. A revolutionary force in the Indian telecom sector, Bharti has many firsts
and innovations to its praise.

Bharti Airtel Limited, the group’s flagship and a leading global telecommunications company has its
operations carried out in over 20 countries across Asia and Africa. The number of subscribers makes it one of
the top four mobile service providers all-round the globe.

Some of its other business undertakings include Bharti Softbank- a joint venture between Bharti Enterprises and
Softbank Corp; Beetel Teletech, a leading manufacturer and distributor of telecom and allied products; and yet
another joint venture, FieldFresh Foods with Del Monte Pacific Ltd.

Bharti has also joined hands with AXA, a world leader in financial protection and wealth management for Life
Insurance and General Insurance. The group operates in the retail sector through Bharti Retail. It has several
multi-brand retail stores all across the country.

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The AXA Group is a world renowned leader in Financial Protection.
AXA’s operates in Europe, North America and the Asia/ Pacific area. In
2010, its total revenues amounted to a whopping Euro 91 billion and total revenues with underlying earnings to
Euro 3.9 billion.

Promoters of Bharti AXA Life Insurance plan to infuse an additional Rs 100 crore into the life company in the
July-September quarter of this fiscal to fund its expansion plans.
The expansion plans include an increase in the number of agents to 50,000 from 33,000 coupled with scaling up
of distribution through 7000 Bharti outlets as against 3000 such outlets last year. The company is also targeting
new business premium of Rs 1,000 crore this fiscal as against Rs 293 crore last year.

Management Profile

 Mudit Kumar

Chief and Appointed Actuary

Mudit Kumar is the Chief and Appointed Actuary for Bharti AXA Life Insurance Company.

Mudit has over 12 years of work experience with around 11 years of experience in the Life Insurance
industry. He has worked in different areas including pricing, reporting and reinsurance in his career.

30
 Prior to joining Bharti AXA Life, he has worked with Aviva Life
Insurance, DLF Pramerica Life Insurance, Bajaj Allianz Life
Insurance, ICICI Prudential Life Insurance and InfosyHe is a Fellow of the Institute of Actuaries of UK
& India and a Mechanical Engineer from IIT-BHU.

Rajeev Kumar
Chief and Financial Officer and Principal Officer

 Rajeev Kumar

Chief Financial Officer and Principal Officer

Rajeev Kumar is the Chief Financial Officer for Bharti AXA Life Insurance Company

Joined Rajeev AXA in 2005 and has handled various roles in the last 10 years. As part of the regional
marketing team in Hong Kong, he played a key role in getting board approval on the product and pricing

strategy for India. He was instrumental in setting up the Actuarial department for Bharti AXA Life.
Prior to joining AXA, Rajeev has also worked with ICICI Prudential Life Insurance and Max New York
Life.Rajeev is a Fellow of the Institute of Actuaries of UK and also a Mechanical Engineer from IIT-
BHU.

31
"The company is taking a series of measures focusing on profitable growth, and we expect to break even by
2012-2013. The current capital base of the life insurer stands at Rs 850 crore," said Bharti AXA Life Insurance
chief executive officer, Nitin Chopra. The joint venture company has a 74% stake from Bharti Enterprises and
26% stake of AXA.

32
Bharti AXA Life Insurance Company Ltd.

Bharti AXA Life Insurance Company Ltd is a joint venture between Bharti, one of India’s leading business
groups with interests in telecom, Agri business and retail, and AXA, world leader in financial protection and
wealth management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA. The
company launched national operations in December 2006. Today, we have over 5200 employees across over 12
states in the country. Our business philosophy is built around the promise of making people "Life Confident".
As we expand our presence across the country to cater to your insurance and wealth management needs with
our product and service offerings, we continue to bring 'life confidence' to customers spread across India.
Whatever your plans in life, you can be confident that Bharti AXA Life will offer the right financial solutions to
help you achieve them.

33
About Bharti Enterprises

Bharti Enterprises is one of India’s leading business groups with interests in telecom, Agri business, insurance
and retail. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit.
BhartiAirtel Limited, a group company, is one of India’s leading private sector providers of telecommunications
services with an aggregate of 60 million customers, spanning mobile, fixed line, broadband and enterprise
services.

BhartiAirtel was ranked amongst the best performing companies in the world in the Business week IT 100 list
2007. Bharti Teletech is the country’s largest manufacturer and exporter of telephone terminals. Bharti has a
joint venture with ELRO Holdings India Ltd. – ‘Field Fresh Foods Pvt. Ltd’ - for global distribution of fresh
fruits and vegetables. Bharti also has a joint venture - ‘Bharti AXA Life Insurance Company Ltd.’ - with AXA,
world leader in financial protection and wealth management. Bharti has recently forayed into the retail business
under a company called Bharti Retail Pvt. Ltd. It also has a joint venture – ‘Bharti Wal-Mart Private Limited’ –
with Wal-Mart, for wholesale cash-and-carry and back-end supply chain management operations.

34
AXA

AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with
major operations in Western Europe, North America and the Asia/Pacific area. AXA had Euro 1,315 billion in
assets under management as of December 31, 2006. For full year 2006, IFRS revenues amounted to Euro 79
billion, IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140
million. The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock Exchange. The
AXA American Depository Share is also listed on the NYSE under the ticker symbol AXA.

AXA Asia Pacific Holdings Ltd

AXA Asia Pacific Holdings Ltd (AXA APH) is listed on the Australian stock exchange and is 52.3% owned by
AXA SA. AXA APH is responsible for AXA SA’s life insurance and wealth management businesses in the
Asia-Pacific region. It has operations in Australia, New Zealand, Hong Kong, Singapore, Indonesia,
Philippines, Thailand, China, India and Malaysia.

AXA APH had A$106.4 billion in total funds under management and administration at 30 June 2007 and
reported a profit after tax before non-recurring items of A$374.0 million for the six months ended 30 June 2007.
For more information on AXA Asia Pacific Holdings, visit www.axa-asiapacific.com.au.

35
INTRODUCTION TO COMPANY

Bharti AXA Life Insurance Company Ltd.

Bharti AXA Life Insurance is a joint venture between Bharti, one of India’s leading business groups with
interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth
management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA. The company
launched national operations in December 2006. Today, we have over 5200 employees across over 12 states in
the country. Our business philosophy is built around the promise of making people "Life Confident".

As we expand our presence across the country to cater to your insurance and wealth management needs with
our product and service offerings, we continue to bring 'life confidence' to customers spread across India.
Whatever your plans in life, you can be confident that Bharti AXA Life will offer the right financial solutions to
help you achieve them.

36
The Joint Venture BHARTI and AXA

Bharti Enterprises

Bharti Enterprise is a large Indian business conglomerate headquartered in New Delhi, India, operating
primarily across India and in some other countries like Sri Lanka, Bangladesh, Jersey, Guernsey and Seychelles
with expanding operations across Africa in Burkina Faso, Chad, Congo Brazzaville, Democratic Republic of
Congo, Gabon, Ghana, Kenya, Madagascar, Malawi, Niger, Nigeria, Sierra Leone, Tanzania, Uganda, and
Zambia. It was established by Sunil Bharti Mittal. Bharti Enterprises has businesses spanning across telecom,
retail, financial services, manufacturing and software.

The company was founded by Sunil Bharti Mittal along with two siblings in 1976. The company was not so
famous in India by its own name;rather its brand names like Airtel and Beetel (PSTN Phone Sets) are
household names in India. The company underwent a brand reformation process and changed its logo and
corporate Image.

Company

Bharti's primary industry is in the field of [telecommunications] via its subsidiary companies BhartiAirtel-
(mobile telecommunications), BhartiInfratel, Passive Telecom-(Infrastructure provider) and Bharti Teletech-
(wired telecommunication services), ConvivialTechnologies.

37
Bharti Airtel Ltd.

BhartiAirtel Ltd is the 5th largest mobile operator in the world in terms of subscriber base and has a commercial
presence in 19 countries. The Company is India’s largest integrated telecom company in terms of customer base
and offers Mobile Services, Fixed Line services, Broadband & IPTV, DTH service named Airtel Digital TV,
Long Distance and Enterprise services.

Bharti Infratel

’’’BhartiInfratel’’’ is owned by Sunil Bharti Mittal. The company erects and maintains towers for different
telecom and Internet providers. Recently the company has taken P7 initiatives for the betterment of the
environment. In India, Infratel has over 32,000 towers, across 18 states, and 11 Telecom circles, and still
growing. BhartiInfratel also has a 42% stake in Indus towers which was created as a Joint Venture between
BhartiInfratel, Vodafone and Idea to hive off the Towers business in 12 circles [https://bharti-infratel.in/cps-
portal/wps/portal/CustomerPorttal].

Bharti Retail Ltd.

’’’Bharti Retail Ltd.’’’ is a wholly owned subsidiary of Bharti Enterprises. Bharti Retail operates a chain of
multiple format stores. The company’s neighborhoods format stores operate under the Easy day brand and the
compact hypermarket format under the “Easy day market” brand.
Bharti Enterprises tied-up with Wal-Mart for opening a chain of retail stores all over India. Though the retail
chain store venture is yet to see the light, the two companies, in August 2007, made a surprise statement that
they have signed a wholesale cash-and-carry deal. The companies would open 10 - 15 cash-and-carry facilities
over 7 years and would employ 5,000 people. Each store would occupy 50,000-100,000 square feet.

The other retail companies of Bharti group are Bharti Retail (Holdings) Private Limited, Bharti Retail
Resources Private Limited and Cedar Support Services Ltd.

38
Bharti TeleTech Ltd.

’’’Bharti Teletech’’’ is India’s leading telecom & allied products company. It is one of the largest
manufacturers of landline telephones in the world. With a strong distribution network across the country, the
company is also the primary distributor of IT and Telecom products from international brands such as
Motorola, Blackberry, Thomson SA Thomson, Polycom, Transcend, and Logitech.

Convivial Technologies Limited

Convivial Technologies Limited is an India based organization providing VAS solutions for mobile operators
around the world. Convivial was formerly known as BhartiTelesoft and took on theconvivial branding in April
2009.

Field Fresh Foods Pvt. Ltd.

’’’FieldFresh Foods Pvt. Ltd. ’’’ is a joint venture between Bharti Enterprises and DMPL India Ltd. (a
subsidiary of Del Monte Pacific Ltd.). The company offers fresh fruits & vegetables and processed foods &
beverages in the domestic as well as international markets.

Bharti AXA General Insurance Company

’’’Bharti AXA General Insurance’’’ is a joint venture between Bharti Enterprises and AXA, world leader in
financial protection and wealth management. The company was incorporated in July 2007.

39
Bharti AXA Life Insurance Company

’’’Bharti AXA Life Insurance Company Ltd. ’’’ is a joint venture between Bharti Enterprises and AXA, world
leader in financial protection and wealth management. The company offers a range of life insurance and wealth
management products.

Bharti AXA Investment Managers Pvt. Ltd.

’’’Bharti AXA Investment Managers Pvt. Ltd. ’’’, an asset management company in India, is a joint venture
between Bharti Enterprises, AXA Investment Managers (AXA IM) and AXA Asia Pacific Holdings (AXA
APH).

Centum Learning Limited

’’’Centum Limited’’’ (formerly ’’’Bharti Learning Systems Limited’’’), a wholly owned subsidiary of Bharti
Enterprises, is a learning and development organization that specializes in the customer experience arena.

Bharti Foundation

’’’Bharti Foundation’’’ was set up in 2000. It aims to create and support programs that bring about sustainable
changes through education and the use of technology and information.

40
Bharti Realty

’’’Bharti Realty Private Ltd.’’’ is the in-house Real Estate Arm for Bharti Group and facilitates by extending
support to the Group Companies for Identifying, Developing and Maintaining Real Estate.

Thus Bharti Enterprises is one of India’s leading business groups with interests in telecom, Agri Business,
insurance and retail. Bharti has been a pioneering force in the telecom sector with many firsts and innovations
to its credit. BhartiAirtel Limited, a group company, is one of India’s leading private sector providers of
telecommunications services with an aggregate of 60 million customers, spanning mobile, fixed line, broadband
and enterprise services. BhartiAirtel was ranked amongst the best performing companies in the world in the
Business Week IT 100 list 2007.

Bharti Teletech is the country’s largest manufacturer and exporter of telephone terminals. Bharti has a joint
venture with ELRO Holdings India Ltd. – ‘Field Fresh Foods Pvt. Ltd’ - for global distribution of fresh fruits
and vegetables. Bharti also has a joint venture - ‘Bharti AXA Life Insurance Company Ltd.’ - with AXA, world
leader in financial protection and wealth management. Bharti has recently forayed into the retail business under
a company called Bharti Retail Pvt. Ltd. It also has a joint venture – ‘Bharti Wal-Mart Private Limited’ – with
Wal-Mart, for wholesale cash-and-carry and back-end supply chain management operations.

41
AXA Group

AXA S.A. is a French global insurance group headquartered in the 8th arrondissement of Paris. AXA is a
conglomerate of independently run businesses, operated according to the laws and regulations of many different
countries.

The AXA group of companies engages in life, health and other forms of insurance, as well as investment
management. The group operates primarily in Western Europe, North America and the Asia Pacific region and
the Middle East.

The AXA Group encompasses five operating business segments: Life & Savings, Property & Casualty,
International Insurance (including reinsurance), Asset Management and Other Financial Services. It ranks as the
9th largest company in the world (based on revenue) on the 2010 Fortune Global 500 list.

The company was originally founded in 1816 as Mutuelle de L'assurancecentreL'incendie (the

AncienneMutuelle). It acquired CompaniesParisians de Guarantee in 1978 and became MutuelleUnies. It went
on to buy the Drouot Group in 1982, at which time it adopted the AXA name. The takeover of The Equitable, a
well knownAmerican insurer, came in 1991. It bought Union des Assurances De Paris (UAP), France's largest
insurer, in 1996 becoming AXA-UAP for a while before reverting to the name AXA in 1999. Then in February
1999 AXA acquired Guardian Royal Exchange. In May 2000 AXA acquired all shares it did not already own
in Sun Life & Provincial Holdings. On 14 June 2006 AXA acquired the leading Swiss insurance company
Winterthur Group from Credit Suisse for approximately €9 billion.

42
Operation

In the United Kingdom

AXA trades in the United Kingdom as AXA Sun Life, AXA Insurance, AXA Investment Managers and AXA
PPP Healthcare. AXA PPP Healthcare was created when AXA bought Guardian Royal Exchange (GRE),
though it subsequently sold the other parts of GRE to AEGON. The company also owns the online insurer Swift
cover, dental payment plan provider Denplan, distribution business Blue fin and fund manager Architas. In
January 2007 AXA was reorganized into "strategic business units" (SBU's) aimed at competing within their
specific markets.

AXA run its investment branch through AXA Investment Managers (IM).

AXA Sun Life

AXA Sun Life was created following the merger between AXA Equity & Law and Sun Life Assurance Society
PLC. In 2006 Winterthur Life in the UK was absorbed although AXA continue to use the Winterthur brand for
high net worth wealth management business. The business units are:[10]

 AXA Wealth – This includes AXA + Winterthur's Bonds + Individual Pensions, AXA Distribution
Services who offer the Elevate wrap platform and Architas.
 Corporate Business – AXA + Winterthur's Group Pensions. AXA intend to create a "Market Leading"
group pension proposition using Winterthur's 'Embassy' IT platform.
 Protection – This business aims to market AXA's Protection Account as AXA continues to build on its
presence in this area with the intention of becoming a leading protection provider.
 Traditional Business – Concentrating on policies which are still in force but no longer actively
marketed.

43
  Sun life Direct – This business focuses solely on selling protection & savings products directly to those
in the UK.
 Banc assurance – This business is responsible for an advisory and sales force that sells AXAs products
and propositions.

AXA sold AXA Sun Life Holdings Ltd to Resolution Limited in autumn 2010

A. On the Isle of Man

AXA Isle of Man Limited was originally created as a subsidiary of AXA Sun Life in the United Kingdom, but
since the Isle of Man is not a part of the United Kingdom it is regulated instead by the laws of the Isle of Man.

AXA Isle of Man Limited advertises itself as a repository for citizens of the United Kingdom and the Channel
Islands who seek to shelter their assets from high taxation.

While the company trades upon the AXA logo, name and group advertising which promote the total wealth of
the group, the assets of the Isle of Man Company are limited to those of the Isle of Man company itself.

B. AXA Schengen

AXA Schengen Travel Insurance provides insurance to travelers who need a visa to enter the Schengen Area.

C. In Canada

AXA Canada offers insurance services through a network of affiliates operating in the different Canadian
regions such as Québec, Ontario, Western Canada and Atlantic Canada. In 2009, the company had a total of
approximately 2,300 employees and 4000 brokers and advisors. The head office is in Montréal, Quebec

44
.

D. In the United States

The American arm of AXA is AXA Equitable. AXA Equitable consists of many subsidiaries; AXA Advisors,
LLC, AXA Network, AXA Equitable Life Insurance, Mutual of New York (MONY), US Financial Life, and
AllianceBernstein.

On December 15 of 2006, AXA Advisors, LLC entered into agreements with LPL (Linsco Private Ledger), the
country's largest independent broker-dealer. LPL agreed to provide brokerage, clearing and custody services on
a fully-disclosed basis. The terms of the agreements are five years, subject to additional 24-month extensions.
Services are expected to begin in August 2007.

E. In Mexico

In July 2008, AXA acquired ING Insurance Mexico; they are offering essentially the same services that ING
offered. The Chairman in Mexico is Xavier de Bellefon.

F. In Asia Pacific

AXA Life Insurance operated in the Asia Pacific region as 'AXA Asia Pacific Holdings Ltd. (AXA APH)
which is the former National Mutual Life Association of Australasia founded by actuary John Montgomery
TempletonThe AXA Collection and was listed on the Australian Securities Exchange. The head office of AXA
APH was located in Melbourne, Australia, and there was a major regional office in Hong Kong. AMP acquired
AXA Asia Pacific in 2011; it retained AXA APH's Australia and New Zealand operations, and sold the Asia
operations to AXA.

AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse geographically, with
major operations in Western Europe, North America and the Asia/Pacific area. AXA had Euro 1,315 billion in
assets under management as of December 31, 2006. For full year 2006, IFRS revenues amounted to Euro 79
billion, IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140

45
million. The AXA ordinary share is listed and trades under the symbol
AXA on the Paris Stock Exchange. The AXA American Depository Share is also listed on the NYSE under the
ticker symbol AXA.

Vision
To be a leader and the preferred company for financial protection and wealth management in India.

Values

 Professionalism
 Innovation
 Team Spirit
 Pragmatism
 Integrity

Professionalism:- A professional is a collegial discipline that regulates itself by means of mandatory,

systematic training. It has a base in a body of technical and specialized knowledge that it both teaches and
advances it sets and enforces its own standards and it has a service rather than a profit orientation, enshrined in
a code of ethics.

Innovation: - Innovation . . . is generally understood as the successful introduction of a new thing or method.
Innovation is the embodiment, combination, or synthesis of knowledge in original, relevant, valued new
products, processes, or services.

Team Spirit: - Team spirit is the spirit of a group that makes the members want the group to succeed

Pragmatism: - Pragmatism is the philosophy of considering practical consequences and real effects to be vital
components of meaning and truth.
Integrity: - Integrity is consistency of actions, values, methods, measures, principles, expectations and
outcome. As a holistic concept, it judges the quality of a system in terms of its ability to achieve its own goals

46
 INSURANCE PRODUCTS OF BHARTI AXA LIFE

Individual Plans :

Bharti AXA Life Guarantee Builder

A Unit Linked Guarantee Plan Guarantee Builder provides you with a comfort factor on your investments and
you can be sure that this comfort factor keeps building year-on-year. It's a solid investment plan that lets you
achieve your long-term goals by investing in a mix of debt and equities, while providing aGuaranteed Maturity
Value over 15 years. What's more, you need not worry about your family's security as it has a strong life
insurance protection embedded.

47
Bharti AXA Life Bright Stars

A Unit Linked Child product. Bharti AXA Life Bright Stars provides a launch pad for your child’s bright
future. What else, You also have Jumpstart benefit which is paid out at maturity along with Policy Fund Value,
which enables your child to explore more career options.

Bharti AXA Life Spot Suraksha

Spot Suraksha helps you create a pool of wealth to meet your long-term needs, with an added advantage of
simplified buying process

Bharti AXA Dream Life Pension

A Unit Linked Pension Product, Dream Life Pension, Bharti AXA Life Insurance's unique pension product
ensures that your retirement life is your Dream Life. Live your Dreams! Be Life Confident.

Bharti AXA Life AspireLife

Unit Linked Endowment Product Aspire Life helps you create a pool of wealth to meet your long-term needs,
while also providing you adequate protection in case the need arises.

Bharti AXA Life InvestConfident

Unit Linked Single Premium Product. You have always strived hard to achieve the best for you and your loved
ones, so when it comes to making an investment decision, we know that you would expect the best from it too.

Bharti AXA Life WealthConfident

A unit-linked investment cum protection policy. Your wealth, your status ensures that you get preferential
status wherever you go. So why shouldn't your money get the same?

48
Bharti AXA Life FutureConfident

A unit-linked policy which offers comprehensive protection along with wealth creation in the long term.

Bharti AXA Life FutureConfident II

A unit-linked product which offers enhanced protection along with wealth creation in the long term.

Bharti AXA Life SaveConfident

Traditional money back insurance product for long term savings. Your changing life stages decide your
financial milestone planning. When you foresee intermittent financial requirements in the years to come, like
regular expenses related to yourchild’s education, liquidity becomes a key aspect of your planning along with
long term savings, and protection for your family.

Bharti AXA Life Secure Confident

A long term Life Insurance, all of us desire to maximize the happiness for our family at all times, irrespective of
the circumstances. The thought of unfortunate events befalling us may cause us anxiety about providing a
secured happiness to our loved ones.

49
Group Plans :

Bharti AXA Life – Credit Secure

Bharti AXA Life CreditSecure is a group product, offering life insurance coverage to customers of financial
institutions who have availed of a loan. CreditSecure is comprehensive solution that helps protect your
customer’s assets and savings in the unfortunate event of death.

Bharti AXA Life - Sanjeevani

Sanjeevani is a single premium group term life insurance product, offering protection to your family.

Bharti AXA Life – Swasthya Sanjeevani

SwasthyaSanjeevani is a single premium group critical illness product, providing comprehensive protection
against 6 critical illnesses.

Bharti AXA Life - Sanjeevani

Sanjeevani is a single premium group term life insurance product, offering protection to your family.

Bharti AXA Life Mortgage Credit Shield

Mortgage Credit Shield is a Group Product that provides coverage to people who have availed of a Mortgage\
Home loan\ Home equity loan from an Institution/Bank.

50
Bharti AXA Life Credit Shield

Credit Shield is a Group Product that provides coverage to people who have availed of a loan for 1 to 5 years
from Group Policyholder.

Bharti AXA Life Shield

Life Shield is a single premium group term life insurance product.

Bharti AXA Life Secure Confident | Features | Benefits

A simple Life Insurance product features.

 You want comprehensive protection for your loved ones
 You want a single product that can take care of all your Life Insurance needs

Minimum & Maximum Insurance Cover –

The minimum Sum Assured in this plan is Rs 5, 00,000/. The maximum Sum Assured that you can opt for in
this plan is 24, 99,999

51
Here are some premiums with sample Sum Assured and age –

 Age last birthday/ Policy Benefit Period 5 years 10 years 15 years 20 years 25 years

25 2440 2450 2600 2620 2660

30 2490 2580 2790 2850 2940

35 2820 3040 3350 3490 3640

40 3680 3960 4450 4980 -

45 4860 5580 6320 - -

50 7220 8300 - - -

Tax Benefits –

You receive tax benefits under section 80C and 10(10D)

Riders –

Bharti AXA Life Insurancegives you enhanced protection in this plan with the option to add any of the 4
protection enhancers by paying a nominal amount towards this additional protection:

 Critical Illness Benefit Rider: In case you are diagnosed of any one of the 6 Critical Illnesses at any
time throughout the term for which the Rider is in force, you will receive a lump sum amount equal to
the Critical Illness Benefit Sum Assured as opted by you

52
  Accidental Death and Disability Benefit Rider:
In the event of an ill-timed death of Life Insured due to an accident or an accidental disability, the Sum
Assured under the Rider will be paid to the Policyholder / nominee

53
 ORANIZATION STRUCTURE OF BHARTI AXA LIFE INSURANCE CO. LTD

Senior Management Team

 CEO: SandeepGhos
 Vice President & Head - Compliance & Legal: Manish Ghiya
 Head - Marketing & Customer Services: Nanda Kishor Shethuraman

Fund Management Team

 Senior Fund Manager- Fixed Income: Ramesh Rachuri

 Senior Fund Manager- Equity: GauravKapoor

Management Team
 CDMO: ShyamalSaxena
 Head of Sales: Arun Prasad
 RSM (East): Dibyendu Nandi

54
 Figure 2

55
 LIST OF LIFE INSURANCE COMPANIES IN INDIA

 Bajaj Allianz Life Insurance Company Limited

 Birla Sun Life Insurance Co. Ltd
 HDFC Standard Life Insurance Co. Ltd
 ICICI Prudential Life Insurance Co. Ltd
 ING Vysya Life Insurance Company Ltd.
 Life Insurance Corporation of India
 Max New York Life Insurance Co. Ltd
 Met Life India Insurance Company Ltd.
 Kotak Mahindra Old Mutual Life Insurance Limited
 SBI Life Insurance Co. Ltd
 Tata AIG Life Insurance Company Limited
 Reliance Life Insurance Company Limited.
 Aviva Life Insurance Company India Limited
 Sahara India Life Insurance Co, Ltd.
 Shriram Life Insurance Co, Ltd.
 Bharti AXA Life Insurance Company Ltd.
 Future Generali India Life Insurance Company Limited
 IDBI Fortis Life Insurance Company Ltd.
 Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd.
 AEGONReligare Life Insurance Company Limited
 DLF Pramerica Life Insurance Company Limited
 Star Union Dai-Ichi Life Insurance Company Limited

56
 COMPETITORS OF BHARTI AXA LIFE

HDFC Standard Life Insurance Company Ltd.

HDFC Standard Life Insurance Company Ltd. is one of India’s leading private life insurance companies, which
offers a range of individual and group insurance solutions. It is a joint venture between Housing Development
Finance Corporation Limited (HDFC Ltd.), India’s leading housing finance institution and The Standard Life
Assurance Company, a leading provider of financial services from the United Kingdom. Their cumulative
premium income, including the first year premiums and renewal premiums is Rs. 672.3 for the financial year,
Apr-Nov 2005. They have managed to cover over 11, 00,000 individuals out of which over 3, 40,000 live have
been covered through our group business tie-ups.

Max New York Life Insurance Co. Ltd.

Max New York Life Insurance Company Limited is a joint venture that brings together two large forces - Max
India Limited, a multi-business corporate, together with New York Life International, a global expert in life
insurance. With their various Products and Riders, there are more than 400 product combinations to choose
from. They have a national presence with a network of 57 offices in 37 cities across India.

57
ICICI Prudential Life Insurance Company Ltd.

ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial
powerhouse and prudential plc, a leading international financial services group headquartered in the United
Kingdom.

ICICI Prudential was amongst the first private sector insurance companies to begin operations in December
2000 after receiving approval from Insurance Regulatory Development Authority (IRDA). The company has a
network of about 56,000 advisors; as well as 7 banc assurance and 150 corporate agent tie-ups.

Allianz Bajaj Life Insurance Company Ltd.

Bajaj Allianz Life Insurance Company Limited is a Union between Allianz SE, one of the world’s largest Life
Insurance companies and Bajaj Auto, one of the biggest 2- &- 3 wheeler manufacturers in the world.

Allianz SE is a leading insurance conglomerate globally and one of the largest asset managers in the world,
managing assets worth over a Trillion Euros (Over R. 55, 00,000crores). Allianz SE has over 115 years of
financial experience in over 70 countries.

SBI Life Insurance

SBI Life Insurance is a joint venture between the State Bank of India and BNP Paribas Assurance. SBI Life
Insurance is registered with an authorized capital of Rs 2000 crores and a Paid-up capital of Rs 1000 Crores.
SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26%.

58
State Bank of India enjoys the largest banking franchise in India. Along
with its 7 Associate Banks, SBI Group has the unrivalled strength of over 14,500 branches across the country,
arguably the largest in the world. BNP Paribas Assurance is the insurance arm of BNP Paribas - Euro Zone’s
leading Bank. BNP Paribas, part of the worlds top 10 groups of banks by market value and part of Europe top 3
banking companies, is one of the oldest foreign banks with a presence in India dating back to 1860. BNP
Paribas Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor
insurance products offering protection to over 50 million clients. BNP Paribas Assurance operates in 42
countries mainly through the banc assurance and partnership model. SBI Life has a unique multi-distribution
model encompassing Banc assurance, Agency and Group Corporate.

SBI Life extensively leverages the SBI Group as a platform for cross-selling insurance products along with its
numerous banking product packages such as housing loans and personal loans. SBI’s access to over 100 million
accounts across the country provides a vibrant base for insurance penetration across every region and economic
strata in the country ensuring true financial inclusion.

BSLI Protect @ Ease Plan

The work you put in every day helps you build savings for your family's future - but is it enough? Expenses
keep mounting every month, inflation eats away at your finances, and the needs of a growing family further
pressurise your limited income.
The key to making your loved ones' dreams come true is in your hands and the most enduring path towards
wish fulfilment is via term insurance. Your loved ones' present happiness and future dreams depend on you.
Hence, your term insurance policy can put them on the route to fulfilling their future dreams.
Buy term insurance today, for securing their future tomorrow.

The term insurance policy has two principal benefits: It has an affordable premium and a high sum assured.
Thus, your family is well cared for even in your absence, when there is a sudden discontinuation of income. In
your absence, the term insurance policy keeps your family away from financial uncertainty and helps them
achieve their goals - just like you had planned.

59
Benefits of BSLI Protect@Ease Plan

In a nutshell, the benefits of this term insurance policy are as follows:

 Complete financial protection at an affordable cost

 Two plan options to suit your protection needs (see details below)
 Option to enhance coverage at key milestones of your life (see 'Enhanced Lifestage Cover' and
Customisable Benefits' below)
 Option to cover your spouse under the same policy (See 'Joint Life Protection' below)
 Inbuilt Terminal Illness Benefit
 Multiple options to receive death benefit to meet your needs
 Rewards for a healthy lifestyle
 Flexible premium paying terms

===

60
 BALANCE SHEET

Bharti AXA Life Insurance Company Limited

Schedule Forming Part of Balance Sheet as At 31 March, 2011

L-16 - FIXED ASSETS SCHEDULE

Particular As at 31 As at 31 March
March 2016
2017
Cash (including Cheque, Drafts and Stamps in hand) 73,073 9,736
Bank Balance ----- ----
A) Deposit Accounts ----- ----
(aa) Short-term (Due within 12 months of the date of Balance Sheet)
270,109 442,327
(bb) Others
----- -----
(b) Current Accounts
(c) Others
----- -----
Money at Call and Short Notice
(a) With Banks ----- ----
(b) With Other Institutions
Others

Total 343,182 452,063

61
Balances with non-scheduled banks (included in 2 and 3 above) 24 15

Cash and Bank Balances 343,182 452,063

In India 343,182 452,063
------ -----
Outside India - -

Total 3 43,182 452,063

SWOT ANALYSIS

Strengths

 Use of brand affinity of Airtel to promote insurance sales.

 Bharti brought its strong local market knowledge, reputation and India.
 Associated with AXA world leader in financial protection and wealth management, ranked No 13 in the
Fortune 500 list of global companies and has enabled the company to have access to AXA’s global life
insurance and asset management expertise.
 Strong partner Bharti - provides access to customer base of more than 20 million

62
Weakness

 Late entrant in the insurance sector

 Thin distribution network all over the nation
 Very less number of product offering in comparison to its competitors
 Lack of confidence among the customers as parent company does not have a financial
 Background.

Opportunities

 Strong growth of unit linked market at the mass affluent end.

 Potentially with 20% insurance cross sale only to new telecom customers, this network can yield 48
Lakh policies per year with sum assured of nearly Rs 58000 crores.

Threats

 Many more companies are lining up to enter into Indian Insurance Industry.
 Consumer’s preference is still more towards public sector insurance companies

63
ACHIEVMENT AND AWARD

Bharti AXAGeneral Insurance wins "Personal Lines Growth Leadership Award" 2011

Consistent and strong growth in volumes, revenues and client base for 3 years

Bharti AXA General Insurance was awarded the prestigious "Personal Lines Growth Leadership Award 2011"
at the India Insurance Awards 2011. This award is a result of Bharti AXA GI's performance of their tremendous
growth in terms of volume, revenues and client base over a three year period, 2008- 2011 in the retail insurance
segment.

The Indian Insurance Awards, 2011 was organized by India Insurance Review Journal in association with clent
(www.celent.com). The awards have been conceptualized to honor performance, growth, product and market
innovation, customer service and technology, with the hope to eventually raise the benchmark for the insurance
industry year on year.

The jury of the awards commented that, "Bharti AXA General Insurance Company, has demonstrated strong
and balanced overall growth in the personal lines category. The company's strong focus on the retail segment
has secured it a leading position amongst personal lines insurers. The company provides a comprehensive array
of motor, health, personal accident, home and shop insurance products in this space."

Commenting on this joyful occasion Dr. Amarnath Ananthanarayanan, MD & CEO, Bharti AXA General
Insurance said, "This is a very proud moment for the Bharti AXA GI team who has put their best foot forward
in order to maintain consistency in terms of service and growth. This award in- deed reflects our employees'
dedication and commitment to the organization. I take this opportunity to thank Bharti AXA GI Team as well as
our partners as this wouldn't have been possible without their continued hard work, diligence and never-say-die
attitude. We look forward to providing customer & partner centric insurance solutions by redefining general
insurance industry standards."

64
The "Personal Lines Growth Leadership Award 2011" is an award to honor
the excellence in growth in the personal lines i.e. the retail category for a
general insurer in India. The criteria for the awardees is that the organization should have witnessed consistent
and healthy growth in volumes, revenues and client base between 2008-2011 across all personal line segments
in its business portfolio, which Bharti AXA GI has successfully done so.

2011

 Personal Lines Growth Leadership Award 2011 at the India Insurance Awards 2011. [5]
 Award for consistent performance and growth from the period of 2008 to 2011. [6]

2012

 Best Product Innovation Award 2012 and Commercial Lines Growth Leadership Award 2012 at the
India Insurance Awards 2012.

2013

 Finnoviti: Editor's choice award for service innovation 2013

 Outstanding Performance in Insurance Category Award 2013

2014

 Excellence Award by the Institute of Economic Studies in March 2014.

 Asia Insurance Industry Awards 2014 for Tech Initiative of the Year .
 Proclaimed the 'Best Insurance Company in the Private Sector - General' by the World HRD Congress at
the BFSI Awards, 2014

65
FUTURE PROSPECTS

Expansion

Bharti AXA is one of the insurance companies in India showing competitive plans to expand and start
enterprises throughout the country in a short time. The company is setting a robust architecture to suit various
segments of the Indian population. Bharti AXA plans to roll and expand as it has other connected products such
as future confident and wealth confident products. Bharti AXA is trying to prove its sales effectively
emphasizing its telecommunications experience. Bharti is planning to get partnership in global insurance.

Benefits

Bharti AXA came into limelight in 2006 November and revealed its interest in insurance. The company is
gaining popularity and being a joint business venture of Bharti and AXA it is working and already becoming
famous in India for various avenues.

The tie up of companies came up with new prospects and the success graph is commendable of Bharti AXA as
within the short time period it has made its mark in the life insurance company and has spread its name in the
Indian market. It globally has 4000 main branches that reveal fast growth.
Owing to its reliable policies, more and more people are connected and connecting to Bharti AXA by opting to
various life insurance plans as per their need.

66
Plan Coverage

Bharti AXA Sanjeevani covers from natural calamities. Bharti AXA Aspire Life is apt to save money for future
prospects. Bharti AXA Secure Confident offers high returns on low premiums. Bharti AXA Future confident
comes with less premium offering higher returns and many more plan covers.
Health plan Tackle the increasing cost of health care due to both the rapid increase in lifestyle diseases as well
as increasing cost of treatment. Comprehensive Health Plans offer lump sum pay-outs when needed both fixed
benefits as well as Hospi Cash benefit. Saving smart plan, It’s good to plan and save at every step of the way.
Savings can help protect your loved ones in their times of need. We, at Bharti AXA Life, understand your needs
and offer a range of saving and protection plans to help you meet your short and long-term goals. We make sure
you choose the best saving plan that will benefit you all the way.

67
 CHAPTER III

PRESENTATION OF DATA AND ANALYSIS

68
 STATEMENT OF THE PROBLEM

Project title:-

“Customers Perception Towards Bharti AXA Life Insurance Co. Ltd.”

RESEARCH METHODOLOGY

To proceed with the research work in a structured way certain methodology is used so as to yield exact and
correct results from the study. The methodology adopted by me is as follows.

Type of research design used:

Research designs are concerned with turning the research question into a testing project. The best design
depends on research questions. Every design has its positive and negative sides. The research design has been
considered as a "blueprint" for research, dealing with at least four problems: what questions to study, what data
are relevant, what data to collect, and how to analyze the results.

For my study I have used Descriptive Research design because Descriptive Research Design is a method in
which involves observing and describing the behavior of a subject without influencing it anyway.

69
Method of Data Collection:

For completing my study I needed both primary and secondary data.

Source of Primary data: Primary data is to be collected through survey and the tool used for survey is
questionnaire which consisted of closed-ended questions and questions based on Likert Scale. Personal
interviews of some respondents would be also conducted to know their perception towards the company.

Source of Secondary data: The data which has been collected by someone else and already passed through
statistical process. This data was collected from the Internet. The company’s broachers were of a great help, and
other sources were also used.

Method of Sample Selection:

Typically, the population is very large, making a census or a complete enumeration of all the values in the
population impractical or impossible. The sample represents a subset of manageable size. Samples are
collected and statistics are calculated from the samples so that one can make inferences or extrapolations from
the sample to the population. This process of collecting information from a sample is referred to as sampling.

The method of sample selection from population adopted by me is Stratified Random Sampling because for my
survey results to be successful I needed respondents from upper middle income group and higher income group
who already are owner of air-conditioners and have a strong understanding about different companies and their
product.

Sample size and area of study:

The survey is being conducted in the city of kanpur. The sample size of seventy five (75) has been selected.
The places being visited are banks, few market places, colleges and corporate offices.

70
Analytical tools used:

The tools used for summarizing the data collected and to interpret the results are:

 Bar Graphs &

 Histograms.

These tools helped in easy understanding of the data and are useful to the company for taking the desired
decisions on various aspects.

71
 RESPONSES TO THE QUESTIONS

DO YOU LIVE IN JOINT FAMILY?

Family Type

Nuclear Family
21%

Joint Family
79%

Figure 3.1

This shows that most of people live in joint family almost near about 84%.

72
NUMBER OF MEMBER IN THE FAMILY

60% 56%

50%

40%

30%
24%
20%
20%

10%

0%
2-4, 4-6, Above 6

Figure 3.2

Due to joint family number of people in the family varies about 4-6. Most of people live with 4-6 family
members.

73
BIGGEST CONCERN FOR FUTURE

40%
36%
35%

30% 28%

25%
20%
20%
16%
15%

10%

5%

0%
Child educationRetirement Child’s marriage Medical illness

Figure 3.3

This shows that people’s future concern towards retirement rather than child education, medical and child
marriage.

74
DO YOU HAVE ANY LIFE INSURANCE POLICY?

00

20%

Yes
No

80%

Figure 3.4

75
This graphical presentation shows that most of people have an insurance plan.
IN WHICH COMPANY

60%
52%
50%

40%

30% 28%

20%
12%
10% 8%

0%
LIC ICICI Bharti AXA Life Other
Figure 3.5

This shows that people are more loyal towards LIC rather than other insurance agencies.

76
WHICH PRODUCT

35%
32%

30% 28% 28%

25%

20%

15%
12%

10%

5%

0%
General Plan Medical Child Plan Other

Figure 3.6

This shows that at the present scenario people want to purchase child plan than other plan.

77
DO YOU LOOK AFTER COMPETITION WHEN YOU PURCHASE A PRODUCT?

4%

Yes
No

96%

Figure 3.7

If we talk about the competition before the purchasing of the insurance product is very is very high.

78
WHICH FACTOR OF THE FOLLOWING YOU WILL BE CONCERN ABOUT WHILE YOU ARE
PURCHASING A PRODUCT?

60%
52%
50%

40%

30%

20%
20% 16%
12%
10%

0%
Allocation Fund management Fund administration All of the above

Figure 3.8

This shows that people want to purchase an insurance product because of its all of the above attribute.
That mean people want to purchase a policies which have all attributes which is given in the option.

79
DOES YOU THINK BHARTI AXA LIFE INSURANCE Co. Ltd. HAVE BETTER INSURANCE
POLICYTHAN OTHER INSURANCE COMPANY?

90%
80%
70%
60%
Yes
50%
No
40%
30%
20%
10%
0%

Figure 3.9

From the graph when we have asked to the people that “Is Bharti AXA Life have better policies than other”
then most of people says no approximately 84% answered no.

80
WHICH INSURANCE COMPANY HAS BETTER INSURANCE PLAN?

60%
52%

50%

40%

28%
30%

20%
12%
8%
10%

0%
LIC ICICI BHARTI OTHER

Figure 3.10

When we talk about the best insurance policy provider then most of people give his vote in favor of LIC hen
ICICI and in favor of Bharti Just 8%.

81
IF BHARTI AXA LIFE INSURANCE GIVE YOU BETTER INSURANCE POLICY THEN, CAN YOU
SHIFT TOWARDS BHARTI AXA LIFE INS.?

Shift Towards Bhartiy Axa

Shift Towards Bhartiy Axa

70

5
Yes No

Figure 3.11

With the help of graph which shows the brand is not possible in the case of Bharti AXA Life just because
people are more brands loyal towards their own brand.

82
WHICH RANK WOULD YOU LIKE TO GIVE TO BHARTI AXA LIFE INSURANCE?

1st , 12%

4th, 44%
2nd , 24%

3rd, 20%

Figure 3.12
This shows that very less people give the highest rank i.e. first rank is only 12%.

83
WOULD YOU LIKE TO JOIN BHARTI AXA LIFE FOR THE PART TIME JOB AS A LIFE ADVISOR?

00

4%

Yes
No

96%

Figure 3.13

With the help of graph the interpretation about the part time job in Bharti AXA life as a life advisor very less
people was interested in this. 96% people answered no and only 3 people say yes out of 75.

84
 CHAPTER IV
FINDINGS, CONCLUSIONS AND
RECOMMENDATIONS

85
 FINDINGS

Based on the data which is presented in Chapter III and the personal interviews of few respondents from the
whole sample size here are the results which are drawn from the interpretation of data:

 Among all the factors that initiate the customer to an insurance policy respondents have given the top
priority followed by features.
 Most of the consumer were happy with the Bharti Axa Life Insurance Co. Ltd.
 Most of consumer invested in Bharti Axa Life Insurance because of High return then risk cover and
then security.

86
 CONCLUSION

Based on the findings it can be said that there is a very bad response from the survey this survey shows that in
the present scenario Bharti AXA life is very far away from his competitors. But there are lots of scope of
growth in insurance market due to rising level of disposable income of individuals and unsecure future of
customers and in addition to these factors the present climatic condition have made a perception among
customers that insurance are necessity products just as bank account and loan or any financial scheme etc.

The main factor that influences customers to purchase insurance product are correct policy for correct customer
according to his/her pocket weight and excellent after sales service and as far as star ratings are concerned,
customers don’t put much emphasis on this factor, so a company to be successful can use its after sales service
network and unique and best quality as its unique selling proposition.

Bharti AXA Life in this scenario, has a fair image in the minds of customers, though some customers think that
Bharti AXA Life was primarily concentrating on high class people and now they are concentrating on every
level of market or mass market, but they still have a trust over the brand name of Bharti, and if it continuously
upgrades its products and services then it can surely become the successful insurance policy provider company.

87
 RECOMMENDATION

In the 2 years of existence in the market it has created a sensation by introducing its most profitable Unit-
Linked Plans and products. The insurer needs to concentrate to make its products and company much more
aware among the public to change the mindset of the people and attract them towards insurance sector. This can
make the recruitment of the potential advisors very well. To create the awareness among the people, the
following methods could be adopted:
 It needs to conduct awareness programmers, campaigns and publish news about the company,
products and attributes to position it in the customer’s mind. The company should timely
communicate through media to make the relationship stronger.
 Another way of creating awareness about the presence of insurer is by placing hoardings and
posters in the traffic areas and market complexes to attract the attention of the people.
 The awareness through the Television is another medium. Though it advertises its product but it
should forecast itself on the channel which the maximum of people use like Doordarshan or
advertising through regional channels.
 The company restricts itself from making any branch offices as it believes in the philosophy of
“one family”. Hence more awareness can be created by establishing more branch and
subsidiaries in the urban as well as rural areas. It can create much more awareness among the
common people also.

The above discussed methods could be helpful to create awareness and thus can attract more people to be its
customers as well as to be a good life advisor. But for this the recruitment standard and the recruitment policy
should be a good one.

88
 BIBLIOGRAPHY

89
Marketing Management- Philip Kotlor, edition-twelve edition….April 2006,
Publisher- Prentice Hall of India (p) Ltd, Analyzing Consumer Markets & Buyer behavior &
consumer behavior.

Research Methodology- C.R Kothari, edition-2004, reprint 2006

Publisher – New Age International (P) Ltd, publishers
Methods of Data Collection, page no- 95
Sampling Fundamentals, page no- 152

Arrow K. (1963), "Uncertainty and the Welfare Economics of Medical Care", American
Economic Review, 53(5):941-973/// Dionne (1984), "Search and Insurance", International
Economic Review, Vol 25(2), 357-367 (From a pdf file)

Broachers of Bharti AXA products.

NAAF
WEBSITES
• www.irdaindia.org
• www.bharti-axalife.com
• www.wikipedia.org
• www.ibef.org Indian brand equity forum
• www.selling-well.com
• www.insureme.com
• www.advisortoday.com
• www.unlockthegame.com

90
 Annexure

1) NAME…………………………………..

2) AGE;

a) Below to 20 years [ ]
b) 20-40 years [ ]
c) 40-60 years [ ]
d) Above to 60 years [ ]

91
 3) GENDER;
a) Male [ ]
b) Female [ ]

4) ACUPATION;
a) Govt. Employee [ ]
b) Private Employee [ ]
c) Self Employee [ ]
d) Other [ ]

5) DO YOU LIVE IN JOINT FAMILY?

a) Yes [ ]
b) No [ ]

6) HOW MANY FAMILY MEMBERS ARE THERE IN YOUR FAMILY?

a) 2-4 [ ]
b) 4-6 [ ]
c) Above 6 [ ]

7) WHICH IS YOUR BIGGEST CONCERN FOR FUTURE?

a) Child education [ ]
b) Retirement [ ]
c) Child’s marriage [ ]
d) Medical illness [ ]

92
 8) DO YOU HAVE ANY LIFE INSURANCE POLICY?
a) Yes [ ]
b) No [ ]

9) IF YES, IN WHICH COMPANY AND WHICH PRODUCT?

………………………………………………………………………………………………

10) DO YOU LOOK AFTER COMPETITION WHEN YOU PURCHASE A PRODUCT?

a) Yes [ ]
b) No [ ]

11) WHICH FACTOR OF THE FOLLOWING YOU WILL BE CONCERN ABOUT

WHILE YOU ARE PURCHASING A PRODUCT?
a) Allocation [ ]
b) Fund management [ ]
c) Fund administration [ ]
d) All of the above [ ]

12) DOES YOU THINK BHARTI AXA LIFE INSURANCE Co. Ltd. HAVE BETTER
INSURANCE POLICY THAN OTHER INSURANCE COMPANY?
a) Yes [ ]
b) No [ ]

93
 13) WHICH INSURANCE COMPANY HAS BETTER INSURANCE PLAN?
a) LIC [ ]
b) ICICI [ ]
c) BHARTI AXA LIFE [ ]
d) OTHER [ ]

14) IF BHARTI AXA LIFE INSURANCE GIVE YOU BETTER INSURANCE POLICY THEN,
CAN YOU SHIFT TOWARDS BHARTI AXA LIFE INS.?
a) Yes [ ]
b) No [ ]

15) WHICH RANK WOULD YOU LIKE TO GIVE TO BHARTI AXA LIFE INSURANCE?
a) 1ST [ ]
b) 2ND [ ]
c) 3RD [ ]
d) 4T H [ ]

16)DO WOULD YOU LIKE TO JOIN BHARTI AXA LIFE FOR THE PART TIME JOB AS A LIFE
ADVISOR?
a) Yes
b) No

THANK YOU! FOR YOUR TIME!

94