Summer Internship Project Report

On

“Customers Perception towards TATA AIG”

TATA AIG

Submitted in partial fulfillment of the requirements for the Two-Year Full

Time Post Graduate Diploma in Management

2020-2022

Under the Guidance of

Mr. Prashant Shukla Dr. Vaishali Agarwal

CSM (TATA AIG) Professor (Marketing)

Submitted By
UTKARSH GOUR
BM-020033

Institute of Management Studies,

Ghaziabad

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 CERTIFICATE OF ORIGINALITY

I hereby declare that this Summer Internship Project titled “Customers Perception towards
TATA AIG” is my own work and that, to the best of my knowledge and belief, it reproduces
no material previously published or written that has been accepted for the award of any other
degree of diploma, except where due acknowledgement has been made in the text.

Utkarsh Gour
BM-020033
Date:

2
Plagiarism Certificate

3
Industry Certificate

4
 Faculty Mentor’s Certificate

This is to certify that Utkarsh Gour PGDM (2020-21 Batch) a student of I.M.S. Ghaziabad,
has undertaken the project on “Customers Perception Towards Tata AIG”. To the best of
my knowledge, the survey, data collection, & analysis work for preparing the project has
been carried out by the student in partial fulfillment of the requirements for the award of
PGDM, under my guidance and supervision.

I am satisfied with the work of Utkarsh Gour

Date:

Faculty Mentor’s Name: …………

(Signature)

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 ACKNOWLEDGEMENT

“It is not possible to prepare a project without the assistance encouragement of other people.
This one is certainly no exception.”
On the very outset of this report, I would like to extend my sincere & heartfelt obligation
towards all the personages who have helped me in this endeavor. Without their active
guidance, help, cooperation & encouragement, I would not have made headway in the
project. I am extremely thankful and pay my gratitude to my faculty Dr. Vaishali Agarwal
for her genuine concern, guidance and valuable inputs during the course of this project. I
extend my gratitude to Institute of Management Studies for giving me this opportunity. I also
acknowledge with a deep sense of reverence, my gratitude towards my parents and member
of my family, who has always supported memorially as well as economically. At last, but not
least gratitude goes to all of my friends who directly or indirectly helped me to complete this
project report. Any omission in this brief acknowledgement does not mean lack of gratitude.

Date:
Place: Ghaziabad
Signature

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 Executive Synopsis

I have completed two months Summer Internship Program (SIP) from TATA AIG General
Insurance Ltd. My subject of study was “Customers Perception Towards TATA AIG".

In the present corporate and cutthroat world, I accept that the area has the most development
and likely when contrasted with different insurance areas. Insurance has a greatest
development pace of 70-80 percent, while the FMCG area has a most extreme development
pace of 12-15 percent. This potential for growth entices me to enter this sector, and TATA
AIG General Insurance Company Ltd has provided me with the opportunity to work and gain
experience in a highly competitive and expanding sector. The success of different market
organisations in gaining a large market share is dependent on the availability of products and
services close to the customer, which can be distributed via a distribution channel.
Understanding the market, on the other hand, consumer preference and introducing new
products to suit different preferences and at the same time offering a value product would be
the key steps to fight competition. Marketing is an important activity in any organization’s
sales strategy. Marketing helps in promoting the products in the targeted market and create a
recall value and branding to the products.
The project is founded on primary data collection and analyzing a sample of 100 people from
various occupational backgrounds, gender and analyzing the perception regarding Health
Insurance of Tata AIG among them as an investment product and to know their best choice of
insurance option from various factors. By preparing questionnaire and conducting the survey,
the study's objectives were as to achieved and the findings were that there is still very high
awareness of Tata AIG in the market and people hesitates in investing in Tata AIG because
due to high premium charges

TABLE OF CONTENTS

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CHAPTER PARTICULARS PAGE

1 INTRODUCTION

1.1. INDUSTRY PROFILE 10

1.2. COMPANY PROFILE 12-16

1.3 DEPARTMENT PROFILE 17-18

1.4 SWOT ANALYSIS 19

1.5 PORTERS FIVE FORCES MODEL 20-21

2. OBJECTIVES 22

3. LITERATURE REVIEW 23-24

4. RESEARCH METHODOLOGY 25

5. FINDINGS AND INTERPRETATION 26-45

6. SUGGESTION 46

7. LEARNING OUTCOMES 47

8. CONCLUSION 48

9. REFERENCES 49

10. ANNEXURES 50-51

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 CHAPTER – I

INTRODUCTION

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 INDUSTRY PROFILE

"Insurance is a contract between two parties in which one party called the insurer agrees to
pay the other party called the insured a fixed amount of money if a certain event occurs in
exchange for a fixed sum called premiums." It is a well-known fact. phenomenon that there
are countless risks in every sphere of life. for property, there are fire risk; for shipment of
goods. There are perils of sea; There is a risk of death or disability for human life; and so on.
Because these events may or may not occur, the likelihood of their occurrence is quite
uncertain. As a result, with this perspective in mind, people who face similar risks band
together and contribute a small amount to a common fund. While it is impossible to predict
who will suffer losses in advance, it is possible to calculate how many people in the group
will suffer losses on average. When a risk occurs, the loss is covered by the common fund. As
a result, everyone bears a portion of the risk. In fact, they share the loss by paying a premium
based on the likelihood of the event. Loss .in olden time, the contribution makes the above-
stated notion of insurance
TYPES OF INSURANCE
Insurance occupies an important place in the modern world because of the risk, which can be
insured, in number and extent owing to the growing complexity of present-day economic
system. The different type of insurance has come about by practice within insurance
companies, and by the influence of legislation controlling the transacting of insurance
business, broadly, insurance may be classified into the following categories:
1. Classification from business point of view
a) Life insurance, and
b) General insurance
2. Classification on the basis of nature of insurance
a) Life insurance
b) Fire insurance
c) Marine insurance
3. Classification from risk point of view
a) Personal insurance
b) Property insurance
c) Liability insurance

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INTRODUCTION TO TATA AIG

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 COMPANY PROFILE

TATA Enterprises with 82 organizations, spread more than seven areas and with a yearly
turnover surpassing US $ 8.8 billion, utilizes in excess of 262,000 individuals. TATA Group
has displayed over years that it is a worth driven organization and has spearheading
commitments in different fields including insurance, aviation, iron and steel. As far as capital
market execution upwards of 40 recorded Tata organizations represent almost 5% of the
absolute market capitalization of every single recorded organization. The Group has had a
long relationship with India's insurance area having been the biggest insurance agency in
India preceding the nationalization of insurance.

TATA GROUP IN INSURANCE:

TATA AIG General Insurance Company Ltd, and Tata AIG Life Insurance Company Ltd.,
(altogether "TATA AIG") are joint endeavor organizations between the Tata group India's
most confided in modern house and American International Group, Inc. (AIG), the main U.
S. based worldwide insurance and monetary administrations association. The Late Sir Dorab
Tata, was the organizer Chairman of New India Assurance Co. Ltd., a gathering organization
fused way back in 1919. Administration of India assumed control over the administration of
this organization as a piece of nationalization of general insurance agencies in 1972. Not
discouraged by the move, Tata group have wandered into hazard the executive’s
administrations having restricted with AIG bunch, back in 1977, with the joining of Tata AIG
Risk Management Services Pvt. Ltd. (What could be compared to about 3.2 percent of the
nation's GDP, and a market capitalization of $72.2 billion as on December 6, 2007. Goodbye
organizations together utilize approximately 289,500 individuals. The Tata Group has tasks
in excess of 85 nations across six landmasses, and its organizations send out items and
administrations to 80 nations.

AIG:

American International Group, Inc. (AIG), is a significant American insurance enterprise

based at the American International Building in New York City. The British headquarter are
situated on Fenchurch Street in London, mainland Europe activities are situated in La
Défense, Paris, and its Asian HQ is in Hong Kong. As indicated by the 2008 Forbes Global
2000 rundown, AIG was the eighteenth biggest organization on the planet. Organization
Background: AIG's set of experiences traces all the way back to 1919, when Cornelius
Vander • Starr set up an insurance office in Shanghai, China. Starr was the principal
Westerner in Shanghai to offer insurance to the Chinese. • In 1962, Starr gave the board of
the organization's not exactly effective U.S. property to Maurice R. \"Hank\" Greenberg, who
moved the organization's U.S. center from individual protection to high-edge corporate
inclusion. • The organization opened up to the world in 1969. American International Group,

12
Inc is the main U.S. based global insurance and monetary administrations association and the
biggest financier of business and modern insurance in the United States. Its part organizations
compose a wide scope of business and individual insurance items through an assortment of
dispersion diverts in more than 130 nations and wards all through the world. AIG's Life
Insurance activities contain the broadest overall organization of any life safety net provider.
AIG's worldwide organizations additionally incorporate monetary administrations and
resource the board, including airplane renting, monetary items, exchanging and market
making, buyer finance, institutional, retail and direct speculation reserve resource the
executives, land venture the executives, and retirement investment funds items.

THE JOINT VENTURE:

Tata AIG Life Insurance Co. Ltd. is promoted at Rs. 185 crores, with Tata Sons contributing
74% and the American accomplice contributing the leftover 26%. Tata AIG expects to offer a
wide scope of extra security plans to the two people and gatherings. The organization is
settled in Mumbai and has workplaces in Delhi, Chennai, Hyderabad, Bangalore, Calcutta,
Pune, and Chandigarh.

ABOUT TATA AIG:

The Tata AIG General Insurance Company Limited is an association between the Tata Group
and the American International Group (AIG).
Tata AIG General Insurance Company Limited has an engaged cases group, with 400+
specialists in-house spread across 90 workplaces in India. The client support group, which is
the organization's face to the client, is additionally comprised of 450 individuals who work
from different workplaces across India.
Tata AIG General Insurance Company Limited's center strength today is in three item
classes: travel protection, marine protection, and responsibility, and the organization tries to
be the most favored General Insurance Company in the business. Tata AIG General Insurance
Company Limited is expanding its overall protection infiltration in India through different
critical organizations with driving business names from different ventures to accomplish its
vision of being the most favored general insurance agency.
Tata AIG General Insurance Company Limited has an AUM of roughly Rs. 14,295 Cr (as of
September 30, 2020) and a labor force of roughly 6220 representatives spread across 200
branches in India. The organization's items are conveyed through an assortment of channels,
including Agency, which has a joined strength of 40,000+ authorized specialists, and an
extremely amazing Broking channel with 437 authorized representatives.
In May 2014, the organization set up the 'Tata AIG Academy' to help its wholesalers in
altogether expanding their protection information, with the vision of turning into a focal point
of greatness in learning in the General Insurance space. Its central goal is to align the
preparation programs with Tata AIG General Insurance Company Limited's essential
business and improvement needs, just as to engage workers and accomplices to prevail in a
quick changing cutthroat climate.

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 PRODUCTS OF TATA AIG

1) Motor Insurance
 Car Insurance
 Bike Insurance

2) Travel Insurance
 International Travel Insurance
 Student Travel Insurance
 Domestic Travel Insurance
 Senior Citizen Travel Insurance

3) Health Insurance
 Medicare- This his pocket-friendly policy offers you all
the benefits you need to deal with medical emergencies
that come your way. TATA AIG MediCare offers benefits
such as global cover and cover for bariatric surgery as
well! Depending on your needs, you can select your sum
insured. We offer amounts as low as INR 3 lakhs and as
high as INR 20 lakhs under the TATA AIG Medicare
health insurance plan.

 Medicare Premier- If you’re looking for enhanced, all-

rounded safety, TATA AIG MediCare Premier is the right
option for you. Along with all the cover offered by our
MediCare plan, this health insurance policy also provides
cover for high-end diagnostics, OPD dental treatment,
emergency air ambulance and more! The sum insured
amounts offered for TATA AIG MediCare Premier can be
as low as INR 5 lakhs or as high as INR 50 lakhs.

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 COMPETITORS OF TATA AIG

1) Star Health Insurance –

 Commencing operations in 2006 as India’s first Standalone Health Insurance
provider, Star Health and Allied Insurance Co Ltd is providing sterling
services in Health, Personal Accident and Overseas Travel Insurance etc. Our
efforts have always been on service excellence and product innovation with a
focus on delivering the best to our customers.
 Star Health has excellent products to cater everybody, be it individuals,
families or corporates. We work directly as well as through various channels
like agents, brokers, online etc., Star Health is also prominently into
Bancassurance having long standing relationship with various Banks
 Currently Star Health has 12800+ employees and 640+ branch offices all over
India.
 It basically deals in Health Insurance, Travel Insurance & Accident Care

2) Max Bupa – Max Bupa Health Insurance Company Limited (Max Bupa) is an Indian
health insurance company, founded in 2008. It is headquartered in New Delhi, India.
It started as a joint venture between Max India Limited and Bupa, the UK-based
international healthcare group.
 Its products are: -
 Max Bupa's Plan
 Health Insurance Plans
 Family Health Insurance Plans
 Individual Health Insurance Plan
 Critical Illness Insurance Plan
 Personal Accident Insurance Plan
 Senior Citizen Plan

3) Reliance General Insurance –

 Reliance General Insurance Company Limited is an Indian private insurance
company and a part of Reliance Anil Dhirubhai Ambani Group, wholly owned
through Reliance Capital. The Gross Written Premium for the year ended 31
March 2018, was at ₹5,122 crores (US$788 million) with a distribution
network composed of over 128 branches and more than 27,888 intermediaries
 Reliance General Insurance offers insurance services across the domains of
motor, health, travel and home. The commercial insurance services include
commercial vehicle, office and marine.
 Its main products are
 COVID-19 Covered
 Arogya Sanjeevani

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 Health Gain
 Health Infinity
 Personal Accident
 Health Wise
 Critical Illness

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 DEPARTMENT PROFILE
Health insurance is insurance that pays for medical expenses. It is sometimes used more
broadly to include insurance covering disability or long-term nursing or custodial care needs.
It may be provided through a government-sponsored social insurance program, or from
private insurance companies. It may be purchased on a group basis (e.g., by a firm to cover
its employees) or purchased by individual consumers. In each case, the covered groups or
individuals pay premiums or taxes to help protect themselves from high or unexpected
healthcare expenses. Similar benefits paying for medical expenses may also be provided
through social welfare programs funded by the government. By estimating the overall risk of
healthcare expenses, a routine finance structure (such as a monthly premium or annual tax)
can be developed, ensuring that money is available to pay for the healthcare benefits
specified in the insurance agreement.

Benefits of Health Insurance

A health insurance policy covers expenses incurred due to doctor visits, consultation fees,
cost incurred due to medical tests, hospitalization expenses, etc. To learn about health
insurance benefits in detail, read below:

1) Comprehensive Coverage: Buying a policy online will help you tackle health-related
issues and avail the best possible medical treatment without worrying about expenses.
Mostly, health insurance plans cover you for the following healthcare expenses:
2) In-Patient Hospitalization Expenses: These are the expenses incurred during
hospitalization of at least 24 hours. Most health insurance plans cover you for in-
patient hospitalization expenses which includes room rent, nursing, boarding
expenses, cost of medicines, ICU/ICCU expenses, etc.
3) Pre-Hospitalization and Post-Hospitalization Expenses: Pre-hospitalization and
post-hospitalization expenses are the expenses incurred a specific number of days
before and after the hospitalization. These generally include expenses related to
doctor’s visits, x-rays, medical reports, etc.
4) Ambulance Expenses: Health insurance plans often cover you for ambulance
expenses arising due to transportation of the patient to the nearest hospital. Generally,
there is a limit on cover for ambulance expenses, which can be checked with the
insurance company.
5) Daycare Expenses: Daycare expenses are those which do not require hospitalization
of at least 24 hours. These include chemotherapy, radiotherapy, cataract, dialysis,
sinuplasty, etc. health insurance plans cover you for a specific number of daycare
procedures, as mentioned in the policy document.

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6) Domiciliary Hospitalization Expenses: Domiciliary hospitalization expenses are the
expenses that incur due to treatment of an illness availed at home, which otherwise
would have required hospitalization. Most health insurance plans cover you for these
expenses, the terms and conditions for which can be found in the policy document.
7) Cashless Treatment: Generally, insurance companies have tie-ups with hospitals,
known as network hospitals that offer cashless treatment to the insured in case of
hospitalization. These hospitals reimburse the expenses related to treatment availed by
the insured. This means, you can avail treatment at these hospitals without paying
anything for the medical expenses incurred, and the insurance company will
reimburse you for the same later when you make a claim. Note that the claim will be
approved if it is made in accordance to the terms and conditions mentioned under the
policy.
8) Portability Benefits: Health insurance portability allows the policyholders to
transfer their existing health insurance policy to a new health insurance provider. It
safeguards customers from being taken for granted by the insurance companies,
thereby giving them flexibility and offering them better options in case they are not
satisfied with their existing health insurance plans.
9) Financial Security Against Rising Medical Costs: Considering the rising medical
expenses in India, it becomes imperative to get a reliable health insurance policy on
time. The policy not only offers you wide coverage, but also protects you from
hospitalization expenses in case of emergency even during inflation. It not only keeps
you stress free, but also takes care of your health.

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 SWOT ANALYSIS OF TATA AIG

Strength
 Brand Name
 New Products
 Customized Insurance Solutions for customers

Weakness
 Less penetration in rural areas
 High Premium
 Cases of fraud agents have caused problems to the brand
 No fixed Salary.

Opportunities
 Growing rural market
 Earning Urban Youth
 More Growth in Health Insurance Sector

Threats
  Global economic crisis
 Dynamic environment
 Increasing Competition

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 What are Porter Five (5) Forces

In his progressive article - "Five Forces that Shape Strategy", Michael Porter discovered 5
forces that have a full-size effect on a firm's profitability in its enterprise. These 5 forces
evaluation these days in commercial enterprise global is likewise regarded as -Porter Five
Forces Analysis. The Porter Five Forces are –

How to apply Porter’s Five Forces

When the use Porter’s 5 forces version to examine your aggressive landscape, you may be
searching at each of the forces in turn. It is higher to apply a worksheet template to document
the statistics you gather.

1. Competitive Rivalry: This is wherein you want to recall the variety of competition
withinside the enterprise and the effect, they've on you. The aggressive contention can be
excessive while there is more than one competition withinside the enterprise and the
enterprise increase price is slow. Here you can want to plan techniques to reply to and
conquer the opposition.

“So, TATA AIG Competitive Rivalry withinside the enterprise increase price is High, due to
the fact there may be a lot of competition withinside the enterprise and the enterprise increase
is slow.”

2. Supplier Power: Look at what number of capacity providers are there withinside the
marketplace, how scarce is the uncooked material, their provider and the way clean its miles
for them to boom their expenses. How highly-priced wouldn't it be to exchange providers or
are you able to locate alternative material?

“For the Insurance area, the bargaining energy of the dealer could be very low. So, examine
what number of capacity providers are there withinside the marketplace. Or how highly-
priced wouldn't it be to exchange providers or are we able to locate substitutes.”

3. Buyer Power: The consumers have the energy to power expenses low and call for better
fine merchandise. Here you want to pay attention to what number of consumers there are
withinside the marketplace, the dimensions in their orders, how clean wouldn't it be for them
to exchange from you for your competition.

“For coverage area the bargaining energy of the client is excessive. We want to
consciousness on what number of consumers there are withinside the marketplace.”

4. Threat of New entrants: If a brand-new commercial enterprise can without problems

input and set up themselves on your enterprise, that could have an effect on you negatively,

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and accentuate the opposition withinside the marketplace. Consider the prevailing access
barriers, how clean it's miles to get admission to providers and distributors, regulations and
regulations, etc.

“In coverage area, a new commercial enterprise can without problems input and set up
themselves withinside the marketplace. For that, we want to consciousness our merchandise
and the way we are able to make TATA AIG exceptional from others.”

5. Threat of substitute products: Are there any substitute products your clients can use in
preference to yours? If so, that could pose a risk to you. Here you want to consciousness of
what number of substitutes are there withinside the marketplace, what’s their fine and rate
and the way without problems your consumers can locate them.

“TATA AIG have quite a few competition withinside the marketplace and there is numerous
substitute products to be had withinside the marketplace. And we want to consciousness on
what number of substitutes are there withinside the marketplace, what method they may be
the use of.”
Finally, have a take a observe the state of affairs you're in primarily based totally
on the evaluation you did. Develop techniques to enhance your enterprise role to bolster it
and mitigate the dangers posed via way of means of every force.

OBJECTIVES OF THE STUDY

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 To study customer awareness towards Tata AIG Health insurance products.
 To examine the gender discrimination towards Health Insurance.
 To analyze the factors (port with ease, organ donor coverage, hospital network,
Health checkup hospital daily allowance, income tax benefit) for the plan that the
customers have chosen.

CHAPTER- 2 LITERATURE REVIEW

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The Health Care coverage industry has changed quickly in the changing monetary climate all
through the world. The general Insurance Industry contributes around seven percent GDP of
our economy. The expanded A Study on Customer Awareness towards Health Insurance pace
of market contest because of progression and privatization constrained wellbeing back up
plans to be seriously serving in a superior manner to the clients. In that guide see toward
tremendous undiscovered market, the idea of medical coverage was presented by the IRDA.
Medical coverage is another and an arising model of channel of dispersion embraced by
protection players to expand the piece of the pie and insurance penetration.
Ramamoorthy and Dr. Senthil Kumar, (2013) The present empirical based study was
conducted with an objective to understand the growth of health insurance in Indian health
Insurance Industry and to measure the customer awareness, satisfaction and perception
towards buying health insurance products from insurers. The various concepts related to
health insurance have been discussed in this paper. Health insurance is accelerating the
growth of Insurance business, decrease cost, Low awareness of health insurance among
customers. This paper concludes that there is a tremendous scope and growth opportunity
available for health insurance in future in the Indian Insurance market.
Panchal. N, (2013) People are not purchasing the health insurance because of low awareness,
lack of finance and high premium charges in India.
Choudhary Maheshkumar. L, (2013) The rural population is more helpless against dangers
like sickness, injury, mishap and passing in view of their social and monetary circumstance.
There is need to give monetary security to helpless families for the equivalent. Health care
coverage could be a method of eliminating the monetary obstructions and further developing
openness to quality clinical consideration by poor people and furthermore a successful federal
retirement aide system. Mindfulness in regards to health care coverage is poor; in this
manner, mindfulness creation is required. Schooling, financial status and occupation were
great determinants for selecting health care coverage.
Valentin, E. C., Degnan, and R. D., &Ntaganira, J., (2012) justify the need for a special
focus required for Indian Health Insurance. The major stimulators in availing health
insurance are the tax rebate, security (both financial and health), risk coverage, health
leverage, out of pocket expenditure, neutralizing rising healthcare cost.

Anand Thakur and Sushil Kumar (2013) Examined Understanding the low penetration
withinside the Indian Health Insurance Industry (currently 32%) and main MNCs of the arena
have been venturing aggressively into this sector. It is in addition advocated with the aid of
using the truth that India spends most effective 6-7 % of GDP on Health care. An evaluation

23
of fitness care spending styles among India and evolved international locations approves the
same, as most effective 5 % Indians avail the same. In Canada and the UK, Health care is
freed from cost. While in India, entire insurance continues to be now no longer accessible,
regardless of cumbersome top-class payment. The gift paper seriously evaluates the
advertising and marketing techniques of main gamers withinside the Indian Health Insurance
Sector. Further, a few beneficial advertising and marketing Implications (with the unique
consciousness on STP and advertising and marketing mix) had been recommended in the end.
Nisakorn Phichitchaisopa and Thanakorn Naenna (2013) results tracked down that the
variables with a huge impact are execution anticipation, exertion hope and working with
conditions. They were additionally found to essentially affect conduct expectation to utilize
the acknowledgment medical services innovation. Additionally, in Thai common regions,
positive importance was found with two components: social effect on conduct aim and
working with conditions to coordinate utilizing conduct. In view of exploration discoveries,
for medical services data innovation to be generally embraced and utilized by medical
services staffs in medical care inventory network the board, the health care hierarchical
administration ought to further develop medical services staffs' conduct expectation and work
with conditions.

Dr. Anil Singh Parihar, Dr. Malay Ghosh discovered that there are six components
answerable for purchasing dynamic of health care coverage approaches. The elements are
Awareness, Company related data, Risk, Promotion, Tax benefits

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 CHAPTER-3 RESEARCH METHODOLOGY

Introduction
This chapter discussed the various methods used in the study. It contained and explained the
following; Research design, Population of the study, Sampling technique and sampling size,
description of research instrument, validity of research instrument, method of data collection
and method of data analysis. This project is based on primary data as it is overhearing factor
in perception studies. It will help in better understanding of the perception of the general
public towards Tata Aig and awareness of Health Insurance as an investment product in the
market.

Research Design
Nature of the research: Descriptive

The motivation behind gathering information was to perform gathering research on Customer
Perception towards Tata Aig. Right now, a questionnaire was directed to gather information
which was the standard survey collection method.

Population
 The population of the study comprises of general public
 Sample size 100
 Sampling technique: Stratified random sampling
 Data collection method: Survey
 Data collection tool: Questionnaire
 Types of questionnaires: close ended
 Types of Question: ordinal based on 5-point Likert scale

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 CHAPTER-4 Findings and Interpretation

1) Gender
Gender No of respondents
Male 58.4
Female 41.6
Total 100

Interpretations:
In this research, if we see on the Gender Segmentation. Among the total no. of respondents
41.6% are female and 58.4% are male. Mostly the respondents were male as compared to
female.

2) Family Members

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Interpretations:
In this Survey, there is also segmentation on the basis of Among the total respondents 38.6 %
are having 2-4 family members 22.8% are having more than 4 family members 20.8% are
having 2 members rest 17.8% are single. It has been observed that singles lie b/w the 20- 30
where they are very health conscious with lesser earning source and minimal responsibility
which defines them into a category where they have lesser urge of health insurance. While
the group of 2-4 are is a family which consists of parents and children and carve for better
medical care for them and this forces them to take a health insurance for unexpected
situations and same goes for the family of more than 4 members.

27
 3) Do you think it is essential to have Health Insurance?

Interpretations:
Among the total respondents 91.1% people believe that health insurance is essential rest 8.9%
don’t believe health insurance is essential. It has been observed that due to degraded lifestyle
and bad food habits has led people to multiple diseases which can have severe effects on their
budget and to averse that shock they feel a need of having a health insurance that could be a
helping hand in those unexpected times.

4) Will you be interested to known about TATA AIG Health Insurance Plan?

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Interpretations:
Among the total number of respondents 38.8% are interested and rest 61.2% are not
Interested to known about TATA AIG Health Insurance.

5) Have you heard about TATA AIG Health Insurance?

Interpretation:
Among the total number of respondents 84.2 % have heard and rest 15.8% haven’t heard
about TATA AIG Health Insurance. Due to marketing of TATA which is a known brand and
a major chuck of market share in a lot of sectors and multiple campaigns done for the
awareness in the society a lot of people are aware about the name of TATA and its insurance
policies as well.

6) Which of these products are you aware of -?

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Interpretation:
Among the total respondents 37.6% people aware of Medi Care, 28.7% aware of Medi Care
Premier, 27.7% aware of Medi Care Plus, 25.7% aware of all the products, 21.8% aware of
Corona Kavach, 21.8% aware of Arogya Sanjeevni, 16.8% were not aware of any of the tata
products, rest 12.9% were aware of Accident Guard Plus.

7) Factors for the plan that the customers have chosen.

1. Port with ease

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

Gender * Rate following

factors for the plan you have
97 96.0% 4 4.0% 101 100.0%
chosen on the following
factor [Port with ease]

Gender * Rate following factors for the plan you have chosen on the following factor [Port with ease]
Crosstabulation
Count

Rate following factors for the plan you have chosen on the following factor Total
[Port with ease]

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 1 2 3 4 5

Gender Female 8 0 12 11 11 42

Male 3 4 18 16 14 55
Total 11 4 30 27 25 97

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 7.145a 4 .128

Likelihood Ratio 8.656 4 .070
N of Valid Cases 97

a. 3 cells (30.0%) have expected count less than 5. The minimum

expected count is 1.73.

Interpretation
 H0: Satisfaction level towards Port with Ease is independent of the gender.
 H1: Satisfaction level towards Port with Ease is not independent of the gender
"
 The value of the test statistic is 7.145
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.128
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Port with Ease
 Based on the results, we can state the following:
 No association was found between gender and Port with Ease (Χ2(2)> =
7.145, p = 0.128).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Port with Ease

31
2. Income Tax Benefits

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

Gender * Rate following

factors for the plan you have
97 96.0% 4 4.0% 101 100.0%
chosen on the following
factor [Income Tax Benefits]

Gender * Rate following factors for the plan you have chosen on the following factor
[Income Tax Benefits] Crosstabulation

Count

Rate following factors for the plan you have chosen on the following
factor [Income Tax Benefits]

1 2 3 4 5 Total

Gende Femal
5 4 9 9 15 42
r e

Male
2 10 15 11 17 55

Total 7 14 24 20 32 97

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 4.012a 4 .404

Likelihood Ratio 4.079 4 .395
N of Valid Cases 97

a. 2 cells (20.0%) have expected count less than 5. The minimum

expected count is 3.03.

32
Interpretation
 H0: Satisfaction level towards Income Tax Benefits is independent of the
gender.
 H1: Satisfaction level towards Income Tax Benefits is not independent of the
gender "
 The value of the test statistic is 4.012
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.404
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Income Tax Benefits
 Based on the results, we can state the following:
 No association was found between gender and Income Tax Benefits Χ2(2)> =
4.012, p = 0.404).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Income Tax Benefits

33
3. Restore Benefits

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

Gender * Rate following

factors for the plan you
have chosen on the 97 96.0% 4 4.0% 101 100.0%
following factor [Restore
Benefit]

Gender * Rate following factors for the plan you have chosen on the following factor
[Restore Benefit] Crosstabulation
Count

Rate following factors for the plan you have chosen on the following
factor [Restore Benefit]

1 2 3 4 5 Total

Gender Female 5 3 8 15 11 42

Male 1 6 8 22 18 55
Total 6 9 16 37 29 97

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 5.029a 4 .284

Likelihood Ratio 5.222 4 .265
N of Valid Cases 97

a. 3 cells (30.0%) have expected count less than 5. The minimum

expected count is 2.60.

34
Interpretation
 H0: Satisfaction level towards Restore Benefits is independent of the gender.
 H1: Satisfaction level towards Restore Benefits is not independent of the
gender "
 The value of the test statistic is 5.029
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.284
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Restore Benefits
 Based on the results, we can state the following:
 No association was found between gender and Restore Benefits (Χ2(2)> =
5.029, p = 0.284).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Restore Benefits.

4. Hospital network

Case Processing Summary

35
 Cases

Valid Missing Total

N Percent N Percent N Percent

Gender * Rate following

factors for the plan you have
97 96.0% 4 4.0% 101 100.0%
chosen on the following
factor [Hospital network]

Gender * Rate following factors for the plan you have chosen on the following factor [Hospital
network] Crosstabulation
Count

Rate following factors for the plan you have chosen on the following factor
[Hospital network]

1 2 3 4 5 Total

Gender Female 6 1 11 11 13 42

Male 0 4 16 14 21 55
Total 6 5 27 25 34 97

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 9.395a 4 .052

Likelihood Ratio 11.690 4 .020
N of Valid Cases 97

a. 4 cells (40.0%) have expected count less than 5. The minimum

expected count is 2.16.

36
Interpretation
 H0: Satisfaction level towards Hospital Network is independent of the gender.
 H1: Satisfaction level towards Hospital Network is not independent of the
gender "
 The value of the test statistic is 9.395
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.52
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Hospital Network
 Based on the results, we can state the following:
 No association was found between gender and Hospital Network (Χ2(2)> =
9.395, p = 0.52).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Hospital Network

5. Organ Donor coverage

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

37
Gender * Rate following
factors for the plan you have
chosen on the following 97 96.0% 4 4.0% 101 100.0%
factor [Organ Donor
coverage]

Gender * Rate following factors for the plan you have chosen on the following factor [Organ Donor
coverage] Crosstabulation
Count

Rate following factors for the plan you have chosen on the following factor
[Organ Donor coverage]

1 2 3 4 5 Total

Gender Female 5 6 12 8 11 42

Male 2 7 18 13 15 55
Total 7 13 30 21 26 97

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 2.674a 4 .614

Likelihood Ratio 2.686 4 .612
N of Valid Cases 97

a. 2 cells (20.0%) have expected count less than 5. The minimum

expected count is 3.03.

Interpretation
 H0: Satisfaction level towards Organ Donor Coverage is independent of the
gender.

38
  H1: Satisfaction level towards Organ Donor Coverage is not independent of
the gender "
 The value of the test statistic is 2.674
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.614
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Organ Donor Coverage
 Based on the results, we can state the following:
 No association was found between gender and Organ Donor Coverage (Χ2(2)>
= 2.674, p = 0.614).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Organ Donor Coverage

6. Health Check-up

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

39
Gender * Rate following
factors for the plan you have
97 96.0% 4 4.0% 101 100.0%
chosen on the following
factor [Health Check-up]

Gender * Rate following factors for the plan you have chosen on the following factor [Health
Check-up] Crosstabulation
Count

Rate following factors for the plan you have chosen on the following factor
[Health Check-up]

1 2 3 4 5 Total

Gender Female 6 3 11 10 12 42

Male 2 4 13 20 16 55
Total 8 7 24 30 28 97

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 4.554a 4 .336

Likelihood Ratio 4.627 4 .328
N of Valid Cases 97

a. 4 cells (40.0%) have expected count less than 5. The minimum

expected count is 3.03.

40
Interpretation
 H0: Satisfaction level towards Health Check Up is independent of the gender.
 H1: Satisfaction level towards Customized and timely services is not
independent of the gender "
 The value of the test statistic is 4.554
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.336
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Health Check Up
 Based on the results, we can state the following:
 No association was found between gender and Health Check Up (Χ2(2)> =
4.554, p = 0.336).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Health Check Up

7. Hospital daily allowance

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

41
Gender * Rate following
factors for the plan you have
chosen on the following 97 96.0% 4 4.0% 101 100.0%
factor [Hospital daily
allowance]

Gender * Rate following factors for the plan you have chosen on the following factor [Hospital
daily allowance] Crosstabulation
Count

Rate following factors for the plan you have chosen on the following factor
[Hospital daily allowance]

1 2 3 4 5 Total

Gender Female 6 1 16 10 9 42

Male 2 6 17 11 19 55
Total 8 7 33 21 28 97

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 7.615a 4 .107

Likelihood Ratio 8.037 4 .090
N of Valid Cases 97

a. 4 cells (40.0%) have expected count less than 5. The minimum

expected count is 3.03.

42
Interpretation
 H0: Satisfaction level towards Hospital Daily Allowances is independent of the
gender.
 H1: Satisfaction level towards Hospital Daily Allowances is not independent
of the gender "
 The value of the test statistic is 7.615
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.107
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Hospital Daily
Allowances
 Based on the results, we can state the following:
 No association was found between gender and Hospital Daily Allowances
(Χ2(2)> = 7.615, p = 0.107).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Hospital Daily Allowances

43
 8) When will you like to buy?

Case Processing Summary

Cases

Valid Missing Total

N Percent N Percent N Percent

Gender * When will you like

101 100.0% 0 0.0% 101 100.0%
to buy

Chi-Square Tests

Asymp. Sig. (2-

Value Df sided)

Pearson Chi-Square 36.790a 34 .341

Likelihood Ratio 50.420 34 .035
N of Valid Cases 101

a. 68 cells (97.1%) have expected count less than 5. The minimum

expected count is .42.

44
Interpretation
 H0: Satisfaction level towards Buying of Insurance is independent of the
gender.
 H1: Satisfaction level towards Buying of Insurance is not independent of the
gender "
 The value of the test statistic is 36.370
 The footnote for this statistic pertains to the expected cell count assumption
(i.e., expected cell counts are all greater than 5): no cells had an expected
count less than 5, so this assumption was met.
 The corresponding p-value of the test statistic is p = 0.341
 Since the p-value is greater than our chosen significance level (α = 0.05), we
do not reject the null hypothesis. Rather, we conclude that there is not enough
evidence to suggest an association between gender and Buying of Insurance
 Based on the results, we can state the following:
 No association was found between gender and Buying of Insurance (Χ2(2)> =
36.370, p = 0.341).
 Thus, we can conclude that both males and females expect similar satisfaction
levels with respect to Buying of Insurance

45
 SUGGESTION

 Tata AIG should lower down the Premium firstly due covid 19 people are suffering
from financial crises as most of the people have lost their jobs and there is sudden
decline in business and revenue.
 Tata AIG can provide new schemes through SMS. Rural population is still not aware
about the benefits and schemes that are going on and its benefits and they should be
made aware of the policies. Introducing SMS on their phones in their cultural
language can help them know about the schemes and its benefits.
 Tata AIG should introduce attractive policies & also attractive bonus on policies to
attractive more potential customers. It has been seen that a lot of people refrain from
taking insurance because of high premium that needs to be paid at the time of
subscription, they should work over attractive schemes and lower down their premium
so that people need not to give a second thought before giving their money.

46
 LEARNING OUTCOME

 Got to learn about the general insurance How the insurance policies are carried out
and how it works. Also learned about the: Basic Health, Product training part. Product
names - Medi Care and Medicare Premier Sales Pitch, Prospecting of client in the
Natural Market, all under the training period conducted by the company.
 We were informed about the (Tata AIG) and corporate profiling on the first day of the
induction procedure.
 We were briefing about the company’s vision and mission with all the details were
explained and training was provided in a session held by the in charge of the
company, informing us about all key features and benefits of the health insurance.
 We have also briefed about how to calculate Premium through Mobile App.
 Public dealing is the main learning outcome that I learned from my internship.

47
 CONCLUSION

After conducting market research for Tata AIG General Health Insurance Company, we came
to know different needs of consumers, their valuable suggestions, responses to the different
questions. With this information we can conclude that there is good market awareness about
Tata AIG General Health Insurance Company in the market. But customers were not able to
purchase due to high charges in premium.
In the end, I would like to conclude that still there is so much scope of growth of the health
insurance industry and its popularity is increasing day by day.

48
 References

Ramamoorthy. R and Senthil Kumar. S. A., “A Study on Customer Perception Towards

Health Insurance Policies”, EXCEL
International Journal of Multidisciplinary Management Studies, Vol.3 (3), March, 2013,
pp.22-28.

Panchal, N. (2013). Customer‟s Perception towards Health Insurance.An Indian journal of

applied research, 3(4), 62-64.

Choudhary, M. L., Goswami, K. I., Khambati, S. N., Shah, V. R., Makwana, N. R., & Yadav,
S. B. (2013). Awareness of health insurance and its related issues in rural areas of Jamnagar
district. Natl J Community Med, 4(2), 267-271.

Valentin, E.C., Degnan, R. D., & Ntaganira, J., (2012), Medicines coverage and community-
based health insurance in low-income countries, Health Research Policy and Systems, 6(11).
Anand Thakur and Sushil Kumar (2013). Health Insurance Penetration in India: Implications
for Marketers, International Journal of Advances in Engineering Sciences, 3 (3).

Nisakorn Phichitchaisopa & Thanakorn Naenna. (2013). Factors affecting the adoption of
healthcare Information technology. EXCLI Journal. 12:413-436.

Parihar, A. S., & Ghosh, M. (2021). A Study of Various Factors Influencing Buying Decision
Making of Health Insurance Policies. Turkish Journal of Computer and Mathematics
Education (TURCOMAT), 12(7), 57-60.

49
 Annexures

Q1) Do you think it is essential to have Health Insurance?

 If yes, then what are the reason behind it
 If No, then will you be interested to buy
 When will you like to buy?
Q2) Tick the company whose Health insurance project you are using currently
 ICICI Lombard
 TATA AIG General Insurance
 Star Health and Allied Insurance Company
 Max Bupa Insurance Company
 Reliance General Insurance Company
 SBI General Insurance
 HDFC ERGO General Insurance Company
 Bajaj Allianz General Insurance Company
 Any Other
 Not Have

Q3) Rate following factors for the plan you have chosen on the following factor: -
Factors 1 2 3 4 5
 Port with
ease
 Income
Tax
Benefits
 Restore
Benefits
 Hospital
Network
 Organ
Donor
Coverage
 Health
Check -
Up
 Hospital
Daily
Allowanc
e

50
Q4) Have you heard about TATA AIG Health insurance?
 Yes
 No

Q5) Which of these products are you aware of?

 Medicare
 Medicare Premier
 Medicare Plus
 Corona Kavach
 Arogya Sanjeevni
 Accident Guard Plus
 All of the above
 Not Known
Q6) Will you be interested to know more about TATA AIG Health Insurance Plan?
 Yes
 No

51