PROJECT REPORT ON BHARTI AXA LIFE INSURANCE

Submitted in partial fulfillment of

SAVE CONFIDENT AT MASTERS OF BUSINESS ADMINISTRATION
2009-2011

SUBMITTED BY: DEEPAK GHILDIYAL

Internal Guide Mrs Baby Moses Faculty MBA

External Guide Mr. Shailesh Saxena Officer (Marketing)

INSITUTE OF MANAGEMENT STUDIES ROORKEE. UTTARAKHAND TECHNICAL UNIVERSITY, DEHRADUN

Certificate by the Guide
Certificate that this dissertation is based on an original project study by DEEPAK GHILDIYAL under my guidance. This has not formed basics for the award of any Degree/Diploma by any university.

Place : ROORKEE(U.K.)

Guide signature: Faculty IMS-R

EXECUTIVE SUMMARY
This project includes the Recruitment marketing,products profiles,analysis of NAV of BHARTI-AXA title of the project is “SAVE CONFIDENT” over the area BENARAS. The first part of the project includes the detail of BHARTI-AXA.This part includes the history and product profile. The second part of the project contains about the Product portfolio,Introduction to the polices. The forth part of the project includes Research Methodology, SWOT analysis,future growth of the company and Conclusion. This explains about the real work of the project. This states about the total analysis and process of Recruitment Marketing. For my project report I have taken approved informations from the ICICI-PRU.For this purpose I have taken the following steps1.Collected secondary data about the company. 2.Collected data of different plans and polices. 3.Analyse the payments and benifit structure of the advisors. 4. Collected data about the different respondents and analyse them. 5. Collected list of unit values of different latest schemes and comparison with another insurance company. 6. Finally I get the findings and framed conclusion from that.

they always managed time to provide proper guidance. No words are enough to thank SAILESH SAXSENA(MARKETING MANAGER. Last but not the least.ACKNOWLEDGEMENT I am thankful to management of BHARTI-AXA Life Insurance Company Ltd for granting the opportunity.Bharti-AXA). corporation and valuable information for completion of this project. DEEPAK GHILDIYAL . In spite of heavy responsibilities and busy schedules. who not only inspired me to work on this project but also accepted to guide me a lot. I am also thankful to our college professors for their constant suggestion which resulted in successful completion of the project. we would like to thank my parents and friends for giving us their constant support and encouragement in completion of our project.

The sampling method used was simple random sampling. Research design method used was descriptive research. I first formed a structure questionnaire to collect data & the questionnaire is filled by the person. coding sheet is formulated & the conclusions drawn . In the given project we made a comparative analysis of mutual fund & life insurance among MNC. who have one charted insurance company & or more with any other MNC insurance company.On the basis of filled questionnaire.PREFACE The competition in the insurance sector is highly volatile in nature. Over the decade only government undertaking company was operating in India but with the opening up of the economy several new players like private sector & multinational insurance entered in Indian horizon. We have taken a size of 60 respondents. Comparing their features & services one hand & also done a research on the interest of investor regarding mutual fund & life insurance in BHARTI-AXA company limited.

values and strategy • Promoters • Group sites • Bharti-AXA Elite source • Bharti_AXA life secure • Wealth creation confidentialnwith protection • Save Confident • Research and methodology • SWOT Analysis • Findings and Sugguestions • Conclusion • Learnings • Bibliography .TABLE OF CONTENTS • Introduction • Company profile • Vision.

INTRODUCTION
Why do you need Life Insurance? To protect your family financially You love your family and feel responsible towards them in every way. A life insurance plan covers your life at nominal costs so that you can fulfill your responsibility with ease and your family never has to face financial constraints.

Why do I need to secure my family when I'm there for them? A life insurance plan will take care of your family in case you are not around for them. You need to protect your family against unforeseen events. A life insurance plan helps you do so very easily.

Isn't securing my family for the future expensive for me now? Life insurance plans are of different types. Protection plans help you secure your family's tomorrow at very nominal costs and for a long time period.

To maximise your savings Life insurance plans not only ensure your family's security but are also a healthy investment option. These investments ensure your money works hard for you by giving you good returns along with peace of mind, as your family is protected. So whether it is your own home, the best education for your child or even a comfortable lifestyle, life insurance plans are the best solutions.

How does a Life Insurance plan maximise my savings? There are variants of Life Insurance plans available today that can maximise your savings. The traditional plans give you definite amount as assured money back. ULIPs or market-linked plans invest your money in the markets to help you reap high returns along with life insurance benefits. Fund managers are the experts that take care of your investment plans to ensure you maximise your savings.

Do I need to worry about the safety of my investments? There are different plans that you can invest in, depending on how much risk you are ready to take. The plans can be summed up into - Traditional Plans, ULIPs and Guarantee Plans

Traditional Plans Traditional Plans give you guaranteed returns on the invested money. The returns you earn through these plans are pre-decided and communicated to you at the time of issuance of policy.

ULIPs Unlike Traditional Plans, Unit Linked Insurance Plans (ULIPs) invest a part of your premium amount into the financial markets. The returns under these policies depend on market performance. Market upswings can ensure you earn high returns. There are various fund options available under these plans. Basis your risk appetite, you can opt for the appropriate fund option.

Guarantee Plans Guarantee Plans are Unit Linked Plans, with an in-built 'guarantee' feature. These plans safeguard the money invested against any market downturns. When the market is up, you can enjoy high returns and in case of market downswings, there is a minimum guaranteed amount paid to you that ensures you do not lose your hard earned money.

Child plans help you secure your child's future in a planned and systematic manner. you wouldn’t like to make compromises when it comes to your child. they also include the feature of life protection. While these plans focus on maximising your returns. you can make your money grow over a period of time. And through periodic withdrawals from the policy. you can provide financial assistance for the key milestones of your child. By investing in this plan. . thereby securing your child's dreams. You can systematically plan for the finances required for your child's future with these plans. which takes care of your family's future How can a child plan help me? To fulfill your child's dreams As a responsible parent. You can select the term of the plan depending on your child's requirements at their key life stageshis/her education. higher studies or even marriage.Do these plans also provide protection to my family? Yes. These plans can help you fulfill your responsibilities towards your child conveniently.

Will my child get the benefit from this plan. This ensures that the policy continues till maturity and you need not fear of policy lapse because you are not around to pay the future premiums. These are long-term plans since they aim to provide a regular income to you post your retirement. even after you've stopped working. the protection cover is paid out and all future premiums are waived off. even in your absence. By investing in retirement plans today. you can ensure you lead a comfortable life. should anything unfortunate happen to you. Why do I need a Retirement Plan when I am young? Enjoy a golden retirement Retirement plans are the best way to systematically plan for your golden years. During the term of the policy. By investing in these long-term plans. the better it is. you can earn a regular income even after you've stopped working. The earlier you start. Without worrying about rising costs. . you can enjoy a good corpus as pension. so that when the term of the plan ends. in case I'm not around? The unique Waiver of Premium feature takes care of this concern. Child plans in that sense will take care of your child and his future. you can be self-reliant and lead a comfortable retired life.

we want to take care of your responsibilities in the same way as you do for your loved ones. you can trust us to take care of your family at all times. right from traditional life insurance to unit linked life insurance. You can select the most suitable plan from our host of plans and make buying life insurance simple and convenient.Why should I opt for a Health Plan? Stay worry-free about your medical expenses Health problems often hit us suddenly and they bring with them huge medical bills. With the help of a health plan. Each of the plans. What’s more. your hefty medical bills are taken care of. you can invest systematically today. due to health contingencies. Health problems can arise anytime. INDIVIDUAL PLANS At Bharti AXA Life. To avoid being financially strained. so that in case of any health crisis. health insurance plans also take care of certain critical illnesses and disabilities to ensure health problems do not impact your family's financial security. You can learn more about the segment and specific plans within the segment by clicking on the type of plan . fall in specified segments and fulfill your specific objectives. Through our life insurance products. you can opt for a health insurance plan and stay worry-free. with a range of life insurance services.

we understand your need to safeguard your family against any crises. At such times. life insurance comes to your rescue. . As someone who wants only the best for their family. Our protection plans offer you high life cover at nominal costs so that you can fulfill your responsibility with ease and your family never has to face financial constraints.Protect your loved ones against financial contingencies at a nominal costs You love your family and feel responsible towards them in every way. But life can be uncertain and unforeseen contingencies can meet you anytime.

This is because the perception of consumers is that we are all evolving only in "a world of promises. We undertook an in-depth analysis wherein we identified the notion of preference was totally related to the trust granted to various names in insurance and financial services.Bharti AXA Life offers a range of innovative products and services that cater to specific insurance and wealth management needs of customers.Beyond promises. and retail. The joint venture has a 74% stake from Bharti and 26% stake from AXA Asia Pacific Holdings Ltd.(APH). agricultural business.The company launched national operations in December 2006. Instead. financial services.one of India's leading business groups with interests in telecom. Bharti AXA Life has a national footprint of distributors trained to provide quality financial advice and insurance solutions to the large Indian customer base." And this is what we have to redefine..Bharti AXA Life is a life insurance player that was started in 2006. Today. It brings together strong financial expertise of the Paris-headquartered AXA Group.. regardless of the brand considered. The level of trust is very inadequate today. proofWe don't want to make promises any more. and Bharti Enterprises . we want to demonstrate our ability to respond to client needs with real and .

They are at the heart of our actions and our commitments to clients. These three attitudes stood out from the others in the consumer research we conducted across markets. regardless of their level of maturity. . These are the three attitudes that clients most expect from an insurance and financial services company in exchange for their vote of confidence. to establish an authentic relationship of trust with our clients. in so doing.tangible proof and.

multi-product platform .To achieve a market position among the top 5 in India through a multi-distribution.

Strong partner Bharti .provides access to customer base of more than 130 million Multi channel execution capability Current Asia product range which is a strong match to products sold to the mass and mass affluent Global scale providing cost effective and speedy re-use of systems.• • • • • • To adapt AXA's best practice blueprints as a sound platform for efficient and profitable growth To leverage Bharti's local knowledge. products and business capability Strong AXA and Bharti brands which can be leveraged to attract and retain a high quality management team • • • • • . infrastructure and customer base To deliver high levels of shareholder return To build long term value with our business partners by enhancing the proposition to their customers To be the employer of choice to attract and retain the best talent in India To be recognised as being close and qualified by our customers.

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He is a graduate from Royal Military College.Product Development. a professional investment services company. Mark’s previous role in AXA was that of CEO of Tynan Mackenzie P/L. Prior to this. Six Sigma. Duntroon and has served as a . His role in Bharti AXA Life as CMOO includes Marketing. Corporate Development and Strategy for AXA Asia Life. Underwriting. Claims.Glenn Williams is the Chief Executive Officer and Managing Director for Bharti AXA Life Insurance Co. he was the Regional General Manager. Customer Service. Mark’s career path spans a range of markets and geographies. Channel & Distribution Operations. Information Technology and Systems. Business Continuity and Client Persistency Management. Ltd. Mark Meehan is currently the Chief Marketing and Operations Officer for Bharti AXA Life Insurance Company Ltd.

Mark was appointed Equant’s General Manager for Australasia. business turnaround. Mark has also enjoyed a successful international military career covering high technology and systems engineering. Mark was appointed CEO and Director of Tynan Mackenzie P/L after leading the acquisition team to a successful transaction conclusion. basing himself in the UK. after which he moved to Equant in Singapore as their Asia Pacific Outsourcing Director. In 2000. Mark was a consultant to public and private sector clients in systems engineering and outsourcing.commissioned Officer in the Australian Army. In 1994. On his return to Australia in 1997. Mark held directorships of several AXA subsidiaries. . In September 2006. Mark joined AXA Australia in 2002 and handled major roles in strategy execution. he transferred his skills to the private telecommunication market. operations and general management.

Bharti has recently forayed into retail business under Bharti Retail Pvt..with Wal-Mart for wholesale cash-and-carry and back-end supply chain management operations in India. Bharti has been a pioneering force in the telecom sector with many firsts and innovations to its credit. agricultural business. financial services.Bharti Wal-Mart Private Ltd. . Bharti Airtel has been ranked amongst the best performing companies in the world in the BusinessWeek IT 100 list 2007. is one of India’s leading private sector providers of telecommunications services with an aggregate of over 110 million customers. Ltd. USA and Middle East.Bharti Enterprises is one of India’s leading business groups with interests in telecom. and retail. Bharti Airtel Limited. spanning Mobile services. a group company. Bharti has a joint venture – Bharti Del Monte India (P) Ltd – with Del Monte Foods India Pvt. Telemedia services and Enterprise services. It also has a joint venture . . to offer fresh and processed fruits and vegetables in the domestic as well as international markets including Europe. Bharti Teletech is the country’s largest manufacturer and exporter of telephone terminals. Ltd.

AXA’s operations are diverse geographically.000 people. AXA Asia Life is committed to become a preferred company in financial protection and wealth management by 2012.000 agents and advisers across Asia. 2009. and has about 60. the Philippines. it has grown rapidly and is today present in China. In 2009. which is part of the AXA Group and AXA Asia Pacific Holdings Limited. Singapore and Thailand. Since then. AXA had Euro 1. AXA Asia Life.1 billion and total revenues underlying earnings to Euro 3. Hong Kong. AXA Asia Life serves over 2. Indonesia.5 million customers.AXA Group is a worldwide leader in Financial Protection. employs over 4. total revenues amounted to Euro 90. started operating in Asia in 1986. Malaysia. India.9 billion.014 billion in assets under its management as of December 31. with major operations in Europe. North America and the Asia/Pacific area. The Regional office is based in Hong Kong and is responsible for supporting the Group’s operations in the 8 markets. .

• • • • • • • Airtel Bharti AXA General Insurance Bharti-Tele Tech Ltd Bharti AXA Investment Managers Bharti Tele Soft Bharti Resources Bharti Foundation .

• • Bharti AXA Life Elite Secure Pure Life Insurance cover at very competitive premiums Option to cover your life till 75 years with a unique to age 75 years term • • You want comprehensive protection for your loved ones You want a single product that can take care of all your Insurance needs What is the minimum and maximum Insurance cover that I can opt for in this plan? .

Sum Age at entry/ Assured (In Policy Benefit Rs) Period 30 25 Lakh 40 50 30 50 Lakh 40 50 30 1 Crore 40 50 • 5 10 15 20 25 To age years years years years years 75 3925 3925 4150 4400 5100 9825 5750 6400 7350 8775 10475 15200 11400 13800 16700 20150 24725 24725 7100 7100 7500 7950 9200 17850 10400 11800 13700 16350 19550 28200 21100 26050 31550 38150 46550 46550 12200 12200 13100 14200 17200 33800 18700 21200 25800 31000 37300 54200 40200 49300 60300 73200 90100 90100 What are the tax benefits? You receive tax benefits under section 80C and 10(10D) Can I add any further protection along with this plan? (Riders) Bharti AXA Life Insurance gives 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: o Critical Illness Benefit Rider: In case.00.000/.The minimum Sum Assured in this plan is Rs 25. you are diagnosed of any one of the six Critical Illnesses at any time during 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 . There is no limit on the maximum insurance cover that you can opt for Can I see some sample premium rates for this plan? Here are some premiums with sample Sum Assured and age.

Bharti AXA Life Secure Confident .o Accidental Death and Disability Benefit Rider: In the event of an unfortunate 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.

000/.999 Can I see some sample premium rates for this plan? Here are some premiums with sample Sum Assured and age. Age last birthday/ Policy Benefit 5 10 15 20 25 Period years years years years years 25 2440 2450 2600 2620 2660 .00.A simple Life Insurance product Option to enhance protection with the addition of Riders • • You want comprehensive protection for your loved ones You want a single product that can take care of all your Life Insurance needs What is the minimum and maximum Insurance cover that I can opt for in this plan? The minimum Sum Assured in this plan is Rs 5.99. The maximum Sum Assured that you can opt for in this plan is 24.

the Sum Assured under the Rider will be paid to the Policyholder / nomine Wealth creation with protection . you will receive a lump sum amount equal to the Critical Illness Benefit Sum Assured as opted by you Accidental Death and Disability Benefit Rider: In the event of an unfortunate death of Life Insured due to an accident or an accidental disability.30 35 40 45 50 • 2490 2820 3680 4860 7220 2580 3040 3960 5580 8300 2790 3350 4450 6320 - 2850 3490 4980 - 2940 3640 - What are the tax benefits? You receive tax benefits under section 80C and 10(10D) Can I add any further protection along with this plan? (Riders) Bharti AXA Life Insurance gives 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: o o Critical Illness Benefit Rider: In case you are diagnosed of any one of the six Critical Illnesses at any time during the term for which the Rider is in force.

these life insurance plans are the best solutions along with the surety of financial protection. a dream vacation or even a comfortable future. Our life insurance coverage plans include 'traditional' plans that give guaranteed money on maturity. we also offer market-linked plans that give you the benefit of good market performance to maximise your savings. While.Ensure your family's security as you maximise your savings You can make your money work harder with our Wealth Creation with Protection plans. These plans come with the double advantage of: • • Complete peace of mind as your family is financially protected and Good investment option that ensures long-term financial goals are met Whether it is a bigger home. .

Child plan .

20 or 25 year term 360 degree protection to your loved ones through comprehensive protection in case of death . 15. child's education.g.Sum Assured + Waiver of future Premiums Jumpstart Benefit – Up to 7% of average fund value during the policy term • • If you want a plan that would completely secure an important financial goal of your family (e. marriage etc) If you are looking for a flexible investment plan that can adapt to your investment habits What are the key features? o o Choice of policy terms to suit your financial goals – 7. 10.Comprehensive financial protection to your loved ones .

etc o Option to enhance protection with choice of riders o 12 free switches every policy year and 6 investment fund options What will I get back? o On Death You get the Sum Assured at the time of death. premium holiday. decrease in premium. Additionally. Bharti AXA Life would pay all the remaining future premiums till maturity On Maturity You receive the policy fund value Alternatively. 1961 .Jumpstart Benefit (Special additions) up to 7% during the policy term to provide enhanced value to your investments o Flexible options like partial withdrawal. you can take the Policy Fund Value at maturity in installments over the next 5 years (extended maturity period) Where can I invest my money? You have the options of investing across 6 funds depending on your risk appetite and return expectation and make use of the switch facility to change your asset allocation What are the tax benefits? You receive tax benefits for premiums paid and benefits received as per prevailing tax laws under Section 80C and Section 10(10D) of the Income Tax Act.

Retirement .

A plan that gives you the flexibility to modify your premium as per your changing needs. choose to systematically increase your premiums by 5 % or 8% each year with the Accumulator Option Increase / decrease premiums any time after the 2nd year Enhance your retirement wealth by paying unlimited top-up premiums after first year Flexibility to change your retirement age any time o Get liquidity through partial withdrawals after the completion of 5 years .Systematically increases investments through Accumulator Option Regular and single pay options • • A plan that lets you change your retirement age anytime as required. What are the key features? o o o o o Pay regular premiums or one time lump sum premium At inception.

while the balance amount must be used to purchase an annuity. which will provide regular income to you at your desired mode of frequency. or o You have the option to purchase an annuity product with the entire policy fund value Where can my money be invested? o You have the option to invest across any of our 6 investment fund options. ranging from high end equity to short term debt to match all your requirements What are the tax benefits? You receive tax benefits under Section 80 CCC Also one third of the maturity \ vesting benefit can be commuted tax-free under Section 10 (10A .o o 12 free switches every policy year and 6 investment fund options Special additions added to the fund at the end of 10th year and every 5 years thereafter What will I get back? On maturity You can take up to 1/3rd of your Policy Fund Value as a taxfree lump sum amount (as per prevailing tax laws).

in order to boost your fund • • You want a single investment option. while you pay for 10 years only Special additions are added to your fund.Flexible pension plan with benefits till age 90. which not only takes care of your sudden requirement but gives you an opportunity to save systematically for your retirement You are looking for pension-cum-investment solution. which gives you flexibility and control What are the key features? o Unmatched flexibility for wealth creation on retirement .

but under this plan you have the flexibility to invest through our specially designed Age-based Asset Allocation facility What are the tax benefits? You can avail of the tax benefits on the premiums paid under Section 80C of the Income Tax Act 1961 (up to Rs.Age-based Asset Allocation and Self Investment option  Invest in equity through our Systematic Transfer Plan which helps you average out the risks associated with equity Markets  Flexibility to meet unforeseen or planned economic requirement through partial withdrawals o Future Secure Pension enhances your retirement kitty by providing special additions at the end of the 10th and 15th policy year o Tax benefits on the premium paid and the benefits received will be as per the prevailing tax laws What will I get back? o Special additions of 3.5% on Average Policy Fund Value at the end of 10th and 15th policy year o Policy Fund Value on maturity of your policy Where can I invest my money?  You have the option to invest across any of our 6 investment fund options.Pay premium for 10 years only and enjoy the benefits till your retirement  Flexibility to invest through any of the two investment options designed for you . 100. Not only this.000) . ranging from high end equity to short term debt to match all your requirements.

Premium payment for just 3 years No surrender charges throughout the policy term • • If you are looking for a pension plan that requires a short tem investment If you are looking for a pension plan that gives allows you to withdraw money without any extra charge .

which will provide regular income to you at your desired mode of frequency. ranging from high end equity to short term debt to match all your requirements What are the tax benefits? .What are the key features? Pay premium for 3 years only and enjoy the benefits till your retirement o Get liquidity through partial withdrawals after the completion of 3 policy years o Enhance your retirement wealth by paying top-up premiums at any point of time o 12 free switches every policy year and 6 investment fund options o No surrender charge applicable throughout the term of the policy o Flexibility to change your retirement age any time during the Policy term o Special additions added to the fund every 5 years What will I get back? o On Maturity You can take up to 1/3rd of your policy fund value as a taxfree lump sum amount (as per prevailing tax laws). while the balance amount must be used to purchase an annuity. or o You have the option to purchase an annuity product with the entire policy fund value Where can I invest my money? o You have the option to invest across any of our 6 investment fund options.

Also one third of the maturity \ vesting benefit can be commuted tax-free under Section 10 (10A) Health insurance Given the fast pace of our lives.be it high blood pressure or various heart diseases. Add to this the rising medical costs because of which. Bharti AXA Life offers you Health Plans that ensure freedom from stress when it comes to your health expenses and let you enjoy your life without any worries. .You receive tax benefits under Section 80 CC(C). we always run the risk of acquiring lifestyle diseases . we end up spending increasingly large amounts of money.

simple to understand and pay premium only once in three years . with additional benefits in case of accidental hospitalisation in an ICU or otherwise • • You want a product that will cover your incidental hospital expenses You want a product that is easy to buy.Extremely affordable premiums starting as low as Rs 3 per day A range of Daily Hospital Cash Benefit options.

1500 per day o Cover your spouse. Rs 1000 and Rs.What are the key features? o Extremely affordable protection with premiums starting as low as Rs 3 per day o Easy health covers you with a single premium at one go for 3 years o Daily Hospital Cash Benefit options of Rs 500. Rs 750. What are the tax benefits? You receive tax benefits under section 80D and 10(10D) . children and parents and avail of an attractive discount of 10% on premium for each family member added o Get additional protection in case of hospitalisation due to an accident and for hospitalisation in an ICU o Avail of Get Well Soon benefit for continuous hospitalisation of 7 days or more o Simple and easy to enroll. No need to fill up lengthy proposal forms or take any medical tests or medical reports Is there a waiting period? There is a waiting period of 90 days except for accidental hospitalisation.

Introduction Bharti AXA Life Insurance presents “SaveConfident” a traditional money back insurance product 鄭 financial solution that helps you secure your financial objectiveslike Children痴 education. Marriage or Other intermediate needs Protection against an unfortunate event 1 07/12/2010 Presentation title .

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Data collection and evaluation can be described as the execution phase of the business research process. The planning phase begins from problem/opportunity identification and leads to selection of the sampling procedure. Steps in the research design process Identifying and Defining Problem/Opportunity P L A N N I N G Planning the strategy Selecting the method of strategy Selecting a Sampling Procedure E X E C U T I O N Data Collection Evaluating the Data REPORT PREPRATION Preparing and Presenting the Report . recording and analyzing data that provides information to guide business decisions. execution and report preparation. The process of business strategy can be divided into three phases – planning.RESEARCH DESIGN/METHODOLOGY Resarch design is defined as a systematic and objective process of gathering. while report generation can be considered as the last phase.

analyzing the result. brand loyalty. “Research Design is a plan. it is the key to the evolution of successful marketing strategies and programmers. In fact. It is an important tool to study buyer’s behavior. conceptual structure. According to Kerlinger. Analysis of information is used in evolving some marketing and financial decisions. Our approach to the research design tasks went through the following tasks. Information needed ? Measurement and scaling Procedures ? Appropriate Data collection ? Sampling Process and sample size ? Data Analysis plan . and focus market changes. brand perception and cross preference among Videocon and Competitor brands. communicate the findings and implementation in terms of marketing actions. The study was initiated to find out the consumer profile. RESEARCH DESIGN: Research design is important primarily because of the increased complexity in the market as well as marketing approaches available to the researchers. consumption pattern.Marketing research is defined as the formal process of collecting information. and strategy of investigation conceived as to obtain answers to research questions and to control variance. A research design specifies the methods and procedures for conducting a particular study. The General study was converged as a specific study for Videocon.

paired comparison between them is used. Primary data is obtained by contacting the retailer and dealers. Primary Data Analysis 2. To find-out the brand perception of various brands. . Survey 3. Scaling Techniques We asked the customers to rank the various attributes on a scale of very important. Important and not very important.◊ ◊ ◊ Research Type Data Type Research Tools Type Descriptive Research Primary and Secondary data Questionnaire Observation Enquiry customer/Dealers/ Retailers Customer (100)/Dealers/ Retailers (50) Random Sampling Method Baranasi ◊ ◊ ◊ ◊ Sampling Units Sample Size Sampling Method Sample drawn from The data collection was done through 1.

With data that is available in the hard form we converted that to electronic form. to analyze the data using the field work. Data Collection Data collection is the important step after the sample is selected on which the survey is being conducted. Purpose of the survey was explained and was asked . In the data collection customers were approached during the working hours at dealers point. the sample was random in nature comprising of people from different age groups and income strata. It was conducted as a part of institute project. The first part of the survey was a disguised survey was there was no mention of Parag as Organization.Sampling Techniques In the survey conducted.

While receiving the filled in questionnaire care was taken to check whether there are any unfilled items in the questionnaire.The questionnaires were returned back after filing up on their convince. and necessary instructions were given to complete the questionnaire . .whether they are interested to take part in the survey Later Questionnaire was handed over to them.

faulty recall and the Question format. boredom. The area survey was Benaras region and covered. For e. But a drawback of this approach is that there was an incomplete capture of his responses. covered in the the customer preferences and tastes in different regions could not be . in our survey a respondent may not mention that he had test driven a car before purchasing it A major problem faced in the survey involved the comparative ratings of various attributes for all the product and polices.g. Open Ended Questions – All the questions in the questionnaire were open-ended to avoid any kind of bias from the respondents end. as the particular sample selected is an imperfect representation of the population of interest.These may arise when the respondents give inaccurate or incomplete answers. as the respondent could not always one out with the purchase steps and the time taken in them. Random Sampling Errors – This can occur. fatigue.Limitations of Survey Response Errors . The reasons for such inaccuracy could be because of unfamiliarity. Many of the respondents were not very willing to rank so many factors as they perceived it to be time consuming.

The secret lies in inculcating savings habit but considering the amount of surplus .  Huge pool of skilled professionals Whether it is banks or insurance companies there is no dearth of skilled professionals in India to carry out a successful bancassurance venture. Complete integration of branch network involves huge investments for creating IT and communication infrastructure. In India the penetration of the insurance sector in the rural and semi-urban areas is low. Weakness:  Lack of networking among branches In spite of growing emphasis on total branch mechanization (TBM) and full computerization of bank branches. In addition to this the affluent section can be tapped for Overseas Mediclaim and Travel Insurance policies. There is a market of 900 million for life insurance and 200 million for householder’s insurance policy. the rural and semi-urban banks have still to see information technology as an enabler. the middle class who constitutes the bulk of this market is today burdened under inflationary pressures.SWOT ANALYSIS Strengths:  Vast untapped market In a country of 1 billion people there is a huge potential market for life insurance products.  Low savings rate Though we have a huge market for insurance policies.

approach and work culture. Target segments should be identified and tapped. There has to be a change in the thinking.  Wide distribution networks of banks provides a great opportunity to sell insurance products through banks Another potential area of growth of bancassurance is exploiting the corporate customers and tying up for insurance of the employees of corporate clients  Threats:  Human Resource Challenges Success in banc assurance venture requires a change in mindset. Though we have a large talent pool.  Non-response from the target groups can also pose a challenge as it happened in the USA in 1980s . the inability to sell complex insurance products on the part of bank professionals and their reluctance to learn can be severe setback. the ability to save is very nominal Opportunities:  Data mining Banks have a huge customer database which has to be properly leveraged.funds available with the middle class for investing in future security.

Bharti-AXA needs to encash its brand name because after the survey I conducted what I concluded is that after LIC if  . it is essential for the advisor to know what the customer actually needs and then letting the customer know what benefits he will get out of it. The limitation here is how to win the trust of people when so many companies are offering the same product range. which needs a lot of convincing before it can be sold because what I analyzed in this internship that there are very few people who have a basic knowledge about life insurance especially the lower middle class society. it helped me to develop the basic understanding of how this industry works and the work experience & knowledge gained has also helped me to give the recommendations as stated below:  An insurance policy is a product.RECOMMENDATIONS AND SUGGESTIONS During the exposure of 2 months I had in the insurance industry via Bharti-AXA. Here. So.

they are into. Instead of approaching these good profile agents personally. And company preferred the profiles of the already established insurance advisors of the other company especially the LIC ones.people know any other insurance company is then it is Bharti-AXA life insurance. I observed that people in general have the perception that insurance is all about getting discount in tax. the company can hold Seminars Or Club Meetings because every one comes for free lunches. People should be made realize that it is a great way of saving for the future too. Besides doing market research. Once they come. my other job was also to increase the advisor base of the company. they can be given Business Opportunity presentations about the   .  During the calls where I went along with the Unit manager. Like LIC Agents usually complain of LOW returns and hence Bharti-AXA can tap them on this loophole of LIC. What I suggest is that before approaching these prominent agents we need to do a SWOT analysis of the co.

This can be one of the sales pitch for the Bharti-AXA.incentives. Since the commission structure has been fixed by the IRDA only so no insurance company can give more commission on products but every company has a different mode of distributing commission. since Bharti-AXA has all kind of products and policies with it (including the products which LIC have and even those which LIC do not have) thus every agent can earn as much (NO UPPER LIMIT ON EARNINGS) as he wants because he has more choice to offer to the customer. commission structure etc Bharti-AXA is offering to its advisors.  .

Assumptions are basically not allowed in this sector until and unless we work on that field. .conclusion the basis conclusion of this project is to better understand that what actullay the customer want and how easily we provide them.

Learning • To understand the market • To understand the custome • Have transparency with customers • How to work in industry market .

com bharti-AXA.BIBLIOGRAPHY • • • • • google search engine askme.in past datas of company magazines .co.

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