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PREPARED BY KUKADIYA DHARMISTHA P. ACADEMIC YEAR: 2010-2011
GUIDED BY PROF. FOR PARTIAL FULFILLMENT OF S.Y.B.B.A. SUBMITTED TO SAURASTRA UNIVERSITY RAJKOT SHRI G.H. GOSRANI COMMERCE (ENG. MED.) AND SHRI D.D.NAGDA B.B.A. COLLEGE, JAMNAGAR
I, Kukadiya Dharmistha P., a student of S.Y.B.B.A. of Shri D. D. Nagda B.B.A Collage, here by declare that this project report has been carried out successfully under the guidance of Prof. K. J. Thankachan and staff member. The product project report is based on the sweets situated at Jamnagar. I am further declaring that this Project Report is not previously submitted to any collage.
Place: Date: (Signature)
This project comprises of illuminating thoughts and experiences of many persons and this is the only page when I can acknowledge their efforts. I would like to acknowledge my parents first as they have provided regular and adequate support to me whether needed or not. I am really thankful to BHARTI AXA LIFE INSURANCE CO. LTD. for giving me the permission to carry out my training. I express my sincere thanks to my project guide Mr. Chetan kakad and management and staff of BHARTI AXA LIFE INSURANCE CO.LTD. For providing their valuable guidance as well as last but not the least, I thank my friends & dear once for their whole hearted support in my this effort. I would like to express my deep gratitude to professor Mr. Chirag Erda for their helpful co-operation and guidance without which my efforts would have never materialize in such worth.
Place: Date Yours Faithfully, (KUKADIYA DHARMISTHA.)
A. integration is necessary. Our college is afflicted with the Saurashtra University. Practical study is an important task and playing a vital role in this course. Of SHRI D. To globally strengthen and sustain. COLLEGE.B. It is necessary for each and every student to have theorical and practical knowledge on the concerned subject. Is practical training as well as theatrical aspect.Y. This project report is very important as it reveals the up coming and setting up of a entire fresh industrial unit.B.situated at jamnagar. creative research and learning.A. 4 .B.A.B. This report is the outcome of what I learnt and watched in the company during my visit period.D. According to our syllabus we are having an industrial visit in the BHARTI AXA LIFE INSURANCE CO. B. I have put my heart and soul to collect information and have done a serious effort in this work.PREFACE India is shinning coz of the “feel good effect” created by the various business houses in this era of professionalisation and globalization. I am a student of S. Only theorical knowledge and classroom discussion is not enough for the student to know all angles of any business.N. LTD.B.
7-11 10 11 12-19 13 15 16 16 17 18 20 21 23 25-38 27 28-38 29 31 33 35 38 39-43 41 42 43 44-49 2 3 4 5 6 . SUBJECT 1 INTRODUCTION • What is the life insurance? • IRDA GENERAL INFORMATION • History • In brief • Vision • Strategy • Bharti AXA confidence • Executive profile MARKETING DEPARTMENT • Introduction • Marketing mix PRODUCT MIX • Elements of product mix • Product variety 1.INDEX R.NO. Save confident 4. Spot suraksha PRICE MIX • Elements of price mix • Payment option • Different premium & sum assured PLACE MIX 5 PAGENO. Wealth confident 3. Future confident 2. Dream life pension 5.
7 Elements of place mix • Distribution channel • Coverage PROMOTION MIX • Elements of promotion mix • Advertising • Marketing strategy • Media • Competitors • Process of sales manager function • Public relation • Direct marketing • Conclusion • Summery APPENDIX BIBLIOGRAPHY 46 47 48 50-64 52 53 55 56 57 58 59 61 63 64 65 66 8 9 6 .
INTRODUCTION 7 .
the only insurer transacting life insurance business in the market.3. It had covered nearly 6. there were 253 companies in India. the European and the Albert. The first life insurance policy is said to have been issued in 1583 in England. 160.HISTORY OF INSURANCE Insurance is said to have commenced with marine insurance.2000 the total assets of the life insurance corporation of India. Life and other insurances developed later. against the risks of piracy and storms. both Indian and foreign. As on 31. The first Indian life insurance company called the Bombay Mutual Assurance Society Ltd. two British companies. In India. was formed in 1870. exceeded Rs. 400 crores. The Lloyds coffee house in London where the traders used to gather and from where the first insurance risks were underwritten. 8 . By 1956.000 crores. still exists and continues to be the centre of insurance activity. with total assets of approximately Rs. attempted writing business on Indian lives in 1870.3 crores of the population through individual policies and other 5 crores through group insurance covers. when the business of life insurance was nationalized. covering goods sent on ships..
29000 crores. 3000 crores. of India to the ninth plan is Rs. to all State Electricity Boards of Rs. 9 . 1. 12000 crores. Support had been provided for piped water supply and drainage schemes in 1960 urban/local bodies of Rs. 15885 crores and to industry of Rs.I.The contribution of the L. to housing development activities of Rs.C.30 lakh crores. or 10%of total plan outlay.
unlike other saving instruments where in the saved money can be easily withdrawn. Tax Relief: Under section 88 of income tax act a portion of premiums paid for life insurance policies are deducted from tax liability. It includes the habit of savings compulsorily. 10 .What is life insurance? Life insurance is a formal agreement between an insurance company and an individual. The beneficiaries to an insurance claim amount are protected from the claims of creditors by affecting a valid assignment. Life policies are accepted as a security for a loan. They can also be surrendered for meeting unexpected emergencies. Encourages Savings: An insurance scheme encourages thrift among individuals. exemption is availability for health insurance policy premiums. to an endowment product under which the insured himself benefits of the maturity of the policy. a trust is created for wife and children as beneficiaries. For a policy taken under the MWP act 1874 (married women’s property act). The beneficiary of the policy would depend on the type of the life insurance policy purchased by the insured with death benefit. Under this agreement. 4. 3. 5. What are the benefits of insurance? 1. 2. the insurer agrees to provide financial protection for a pre-defined period. Similarly.
The other decisions taken simultaneously to provide the supporting systems to the insurance sector and in particular the life insurance companies were the launch of the IRDA’s online service for issue and renewal of licenses to agents. 11 . The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products.6. the society will benefit as catastrophic losses are spread globally. The Insurance Regulatory and Development Authority Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament in December 1999. Based on the concept of losses. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. which are expected to be introduced by early next year.
GENERAL INFORMATION 12 .
in fact. 13 . The country is attracting capital and companies at an accelerated pace. it is rewriting the economics of the scarce of industry. In the process. turned to be stronger than anticipated. The macro economics performance of our country. ltd. propelled by the buoyant exports and the brightening of the domestic investment climate. Consolidation is becoming the order of the day. With the resurgence of the industrial sector.ABOUT THE COMPANY India has become the centripetal force of the globalization. welcomes this trend sparked by the globalization. both business optimism and consumer confidence rose. Bharti AXA life insurance co.
HISTORY Bharti AXA Life insurance is a joint venture between Bharti Enterprises and AXA Group. BHARTI India’s leading telecom provider One of the ten most mobile brands in the world Over 40 million customers Its one brand Airtel has 25 million customers AXA Financial protection and wealth management is ranked 15th in the fortune 500 list AXA group has over 50 million customers 14 . Bharti AXA Life insurance = Bharti Enterprises + AXA Group Bharti Enterprises is one of India’s leading and fastest growing private sector providers of telecommunication services. Bharti Enterprises is acknowledging as one of India’s finest companies. The AXA group has over 50 million customers and employs 112000 people worldwide with a presence in over 50 countries. AXA. world leader in financial protection and wealth management is ranked 15th in the fortune 500 list of global companies. AXA manages approximately 1064 billion euros of assets under management.
AXA’s operations are diverse geographically. one of India’s first finest brands. venturing into telecom software development. AXA is world wide leader in financial protection.. to becoming the largest manufacturer and exporter of world class telecom terminals under its ‘Beetel’ brand. 15 . Bharti has successfully launched an international venture with EL Rothschild Group owned ELRO Holding India ltd.IN BRIEF Bharti enterprises are one of India’s leading business groups with interests in telecom. Bharti has joint venture with Bharti AXA Life insurance co ltd. The AXA ordinary share is listed and trades under the symbol AXA on the Paris stock exchange. North America and the Asia/ Pacific area. AXA hold Euro 1315 billion in assets under management as of December 31. – with AXA. with major operations in Western Europe. insurance and retail. Bharti Airtel limited is today acknowledge as one of one of India’s finest companies. 2006. From the creation of ‘Airtel’. While a joint venture with TeleTech Inc. Bharti enterprises’ dynamic diversification has continued with the co. Bharti enterprises have successfully focused its strategy on telecom while straddling diverse fields of business. agri business. world leader in financial protection and wealth management. to export fresh Agri products exclusively to markets in Europe and USA. and its flagship brand ‘airtel’ has over 50 million customer across the length and breath of India.. Bharti has created significant position for itself in the global telecommunication sector. USA marked bhari’s successful foray into the customer management services business.
to leverage Bharti’s local knowledge. To achieve a top 5 market position in India through a multidistribution. to deliver high level of shareholder return 16 . STRETAGY 1. for financial protection and wealth management in India. infrastructure and customer base 4. multi-product platform. to adopt AXA’s best practice blueprint as a sound platform for profitable growth 3. 2.VISION To be a leader and the preferred co.
to be the employer of choice to attract and retain the best talent in India THE BHARTI AXA CONFIDENCE 17 .5.
MARKETING DEPARTMENT 19 .
INTRODUCTION Marketing occupies an important place in the organization of a business unit. This means that marketing is the essence of all business. It is process by which product are made available to the ultimate consumers from the point of origin. Marketing beings by influencing the form the product should take to secure maximum acceptance in the market as well as the prices at which and the quantities in which it should be offered in any given period to secure the maximum to the enterprise in the long term. 20 . “The purpose of a business is to create a customer.” Thus through marketing a firm makes a conscious and organized effort to find out what the member of the community need and how it can provide the maximum measures of satisfaction to them.” Marketing is the function of business concerned with the creation of a customer. Marketing consists of those efforts that effect that effect transfer in ownership of good and care for their physical distribution.
PRODUCTION DEPARTMENT 21 .
Meaning of Product:
A product is anything that can be offered to a market to satisfy a want or needs. Products that are marketed include: • Physical goods • Services • Experiences • Events • Persons • Places • Properties • Organization • Information
ELEMENTS OF PRODUCT MIX
A product mix is the set of all products and items that a particular seller offers for sale. Product mix includes: • Product variety • Quality • Design • Features • Brand name • Packing • Services • Returns
There are many types of products (plans) for the benefit and investment of the general public. And these are as follows: • Future Confident • Wealth Confident • Save Confident • Dream Life Pension • Spot Suraksha
FUTURE CONFIDENT Why should you buy future confident? Future confident is a suitable product for you. The unit price of the investment funds decides the number of units allowed to you. 25 . The premium is netted off the premium allocation charge and invested in the investment fund of your choice. Every time the premium is paid. while at the same time providing your family comprehensive protection against unfortunate incidences in life. monthly fixed charges and mortality charges are deducted by cancellation of units. 2. 4. Net units and the price of the investment fund decide your policy fund value. either for your own retirement or for your children’s future. 3. targeted wealth creation over 15-20 years. of units. fresh units are allocated and subsequently the deduction is made. The premium paid by you decides the sum assured. and the policy accumulated higher no. How future confident works for you? The product works as follows: 1. resulting in higher policy fund value. if your objective is long term. Once the units are allocated.
for half yearly Rs.for quarterly 0 years 60years Policy fund value as calculated with the respective unit prices of the relevant investment funds to which your regular premium and top up premium have been allocated as on their valuation dates.10000/.for yearly Rs.1 plant at glance-future confident) Product name Sum assured Future confident It is fixed multiple of the regular premium 0-20 years = 35 times 21-35 years = 25 times 36-45 years = 20 times 46-50 years = 15 times 51-60 years = 10 times Rs.PLAN AT GLANCE (Table. Minimum premium Minimum age at entry Maximum age at entry Maturity benefit 26 .5000/.2500/.
it suits your requirement of earning potentially higher returns by assuming the appropriate risks. building a retirement kitty. asset creation etc. The unit price of the investment fund decides the number of units allocated to you.WEALTH CONFIDENT Why should you buy this plan? Wealth confident is the perfect product for you. 3. if your key objective is to potentially maximize your wealth and fulfill your future financial objectives such as child’s higher education. The premium paid by you decides the sum assured. The premium is netted of the premium allocation charge and invested in the investment fund of your choice. How wealth confident works for you? 1. Once the units are allocated. 2. 27 . Being a unit-linked plan. depending on your age) are deducted by cancellation of units. monthly fixed charges and mortality charges (deducted for the life insurance benefit.
2 plant at glance – wealth confident) Product name Sum assured Minimum premium Wealth confident 5 times the annual regular premium paid Rs 24000/.half yearly Rs 6000/.PLAN AT GLANCE (Table.quarterly Rs 2000/.yearly Rs 12000/.monthly 18 years 60 years Policy fund value as calculated with the respective unit prices of the relevant investment funds to which your regular premium and top up premium have been allocated as on their valuation dates Minimum age at entry Maximum age at entry Maturity benefit 28 .
if your key objective is secured growth on your investments. You can pay the premiums on a yearly. The regular premium in save confident is to be paid for a term of 12 years. The guaranteed overall payment over the 10 years is 110% of the basic sum assured. while the policy benefit period is 15 years. How save confident works for you? 1. 29 . quarterly or monthly basis.SAVE CONFIDENT Why should you buy this plan? Save confident is a suitable product for you. The product guarantees regular annual payment for 10years starting from the end of 6th policy year till maturity. with regular liquidity to meet your intermittent financial objectives. while providing your family a comprehensive and enhanced protection against unfortunate incidents. 2.
if any. shall be declared on the sum assured.3. PLAN AT GLANCE (Table -3 plant at glance – save confident) Product name Sum assured Minimum premium Minimum age at entry Maximum age at entry Maturity benefit save confident Minimum sum assured is Rs 60000 6000 for yearly mode 12 years 55 years Policy fund value as calculated with the respective unit prices of the relevant investment funds to which your regular premium and top up premium have been allocated as on their valuation dates 30 . An annual reversionary bonus. This will be declared every year and has a compounding effect.
4. policy administration charges are deducted monthly by cancellation of units. thus increasing your retirement’s corpus.you choose the age you would like to retire. Special additions are made to your policy fund value every year. Once the units are allocated.DREAM LIFE PENSION Bharti AXA life insurance’s unique unit. 3. starting from the end of 10th policy year onwards till the retirement date. which determines your premium paying terms in case of annual regular premium mode. which lets you live your retired life king-size. 5.linked pension product. Premiums paid by you are netted off by the premium allocation charge and invested in the investment funds of your choice. 31 . 2. through single premium or annual regular premium. Choose to save as per your preference. How dose Dream Life Pension work? 1.
of times 2nd policy Increase or premium any time after Year (chart no. Special addition to boost your investment return 4. Flexibility of choosing your retirement age 5. – 1 benefits of dream life pension) 2. Switching facility to provide total control over your investment 32 . Any no.BENEFITS 1. Choice of investment fund options to help maximize your investment returns 3. Flexibility: The Accumulator Option Choose to regularly increase your Premium by 5%to 8% each year BENEFITS Add top-up premium decrease Any time after 1st policy year.
Single:25000 Minimum policy 10 years 33 . yearly. -5 plan at glance . % of policy fund value Annual regular premium Single premium 1 Nil Nil 2 75% Nil 3 88% Nil 4 92% 98% 5 95% 99% 6 100% 100% PLAN AT GLANCE (Table no. monthly Annual: 12000p. half.dream life pension) Parameter Minimum age at entry Maximum age at entry Premium modes Minimum premium Eligibility 18 years 55 years Single pay.yearly. – 4 surrendering value) Policy year Surrender value.a.SURRENDERING THE VALUE (Table no. quarterly.
which offers you an instant insurance protection and benefit of wealth creation in the long-term. proofs for identity. What are the advantages of spot suraksha? With spot suraksha. Walk out insured: a cover note is issued to you and your insurance cover starts instantly. 1. Sing up: sing up the simple application form. Other benefits: 1. submit photograph. just fill the application form and answer the simple health related questions 2.getting an insurance cover is as simple as AB-C. address and age 3.term SPOT SURAKSHA What is spot suraksha? Spot suraksha is a unit linked insurance product. Understand the product: Read and understand the product brochure and the Benefit illustration 2. immediate insurance cover on completely filling the application form and correctly answering the health questions 34 .
100% allocation of your premium to the investment fund of your choice from 2nd year onwards 3. PRICE MIX 35 .
Price is a value placed upon the product by the offered If we analyses all the four marketing mix. It should consider pricing discount. It is one kind of agreement between the buyer and the seller. Behind any successful organization right pricing decision is there while a wrong pricing decision may lead to failure or even sometimes loss to the organization. All the other three are cost generators. Among all these the price is the only element which generate revenue for the firm. allowance and terms of credit. 36 . The amount of money changed for a product or services for the sum of values that customers change for the benefit of having or using the product or service.PRICE MIX The second element of marketing mix is about price of the product. At last we can say that the price is the exchange the value of goods and services in terms of money.
ELEMENTS OF PRICEMIX There are many types of elements of price mix and which are as follows: • List price • Discounts • Allowances • Payment period • Credit terms 37 .
And these are as under: 1. 4. 2.PAYMENT OPTION Bharti AXA Life has many types of payment option. Cash / cheque Credit card Skypack drop box Electric bill payment process(EBPP) Skypack drop box You can drop your premium cheques at any of skypack drop boxes in your area Electric bill payment process (EBPP) You can pay premium on line through your banking A/C with any of following partner banking: • ICICI • Citibank • HDFC bank 38 . 3.
DIFFERENT PREMIUM &SUM ASSURED (Table no.10000/.for yearly Rs. Single:25000 39 .quarterly Rs 2000/.a.2500/-for quarterly Wealth confident Rs 24000/.monthly Save confident Dream life pension Minimum sum assured is 6000 for yearly mode Rs.yearly Rs 12000/. 60000 Annual: 12000p.half yearly Rs 6000/. – 6 different premium & sum assured) Name of plan Future confident Sum assured It is fixed multiple of the regular premium 0-20 years = 35 times 21-35 years = 25 times 36-45 years = 20 times 46-50 years = 15 times 51-60 years = 10 times 5 times the annual regular premium paid Premium Rs.for half yearly Rs.5000/.
PLACE MIX 40 .
Company should adopt current trend to distribute its product. They must be trend takers and opportunities seekers. The channel management must be effective enough to run smoothly in the market for the product. It includes decisions regarding how to make available the finish product to the final consumer from manufacturer. many companies fail to see change as opportunities. 41 . Channel management is related with the way through which goods and services flow or move from producer to customer.PLACE MIX Today you have to run faster to study in the same place.
ELEMENTS OF PLACEMIX Place mix includes the following items: • Channels • Coverage • Location • Inventory • Transport 42 .
DISTRIBUTION CHANNEL Most producers don’t sell their goods directly to the final users. These intermediaries constitute a marketing channel. -2 distribution channel) 43 . Between them stands a set of intermediaries performing a variety of functions. “Marketing Channels are sets of interdependent organization involved in the process of making a product or service available for use or consumption” The distribution channel of Bharti AXA Life is as follows: Bharti AXA life insurance Advisor Customers (Chart no.
Forest Park.102&103.117. zone-2 Maharana Pratap Nagar Bhopal-462011 (o)2578100.in (o)7546150 Fax: 079. com/ioobbsr@vsnl.COVERAGE The different coverage areas of Bharti AXA Life in only India are as follows: (Table no.380014 2. Ahamdabad. com 3. no. 44 (o)706196 . – 7 coverage area) 1.C. Ashram road. 101.Shah Collage.BHOPAL 1st floor . near C.Bhuvnashwar751009 (O)2535220 Fax:0674-2531607 Email: susantamishra@yahoo. AHEMDABAD 2nd floor.net 4.O.CHANDIGARH S.U.7546142 e-mail : insombahd@rediffmail.BHUBANESWAR 62. Shree Jayshree Ambica Chambers.2578102.net .2 578103 Fax:0755-2578103 E-mail: insombmp@satyam.
in (o)23239611 Fax:011-23230858 e-mail: mailto:insombudsmand el@netcracker>com (o)2373334 Fax: 0484-2373336 (o)26106928 Fax:022-26106052 45 . 4th floor. Universal InsuranceBldg. MUMBAI 2nd floor. Kochin-682015 8.G.santa cruz Mumbai-400054 Fax: 0172-708274 (o)24333678 Fax:044-24333664 e-mail: insombud@md4. Road. Batra building sector17-D.Jeevan Seva Annexe S. KOCHI 2nd floor. CHENNAI Fatima AkhtarCourt. Chandigarh-160017 5.110002 7.600018 6.2nd floor.DELHI 2/2A.n et. Chennai. CC27/2603 Pulinat building M. Road.453 Anna salai.vsnl.1st floor.V.Asaf Ali Road New Delhi.
features. In 46 . The promotion mix strategy emphasizes upon marketing of the product through marking channels in the target market. uses etc of the product. Now how to launch it in a best way that each and every potential customer can get maximum information and knowledge about the benefits. The place where to launch the product is also fixing. The nature of production and financial condition of the company affects a lot in deciding about promotion mix of any product.MARKETING MIX This is the stage where which product to product has been decided and produced too. More over its price have also been fixed up on.
ELEMENTS OF MARKETING MIX There are many types of elements which are as follows: • Advertising • Sales promotion • Sales force 47 . promotion is one kind of tool for building favorable image of marketers and their products.short. it is an effective and continuous flow of information about the product between the firm and consumer.
• Public relations • Direct marketing ADVERTISING MEANING: 48 .
If it spends too much. Money: 3. Therefore it can prevent the waste of money. Then they can make the five major decisions in developing an advertising program. goods and services by an identified sponsor” In developing a program. Message: 4.“Any paid form of non-personal presentation and promotion of ideas. Money: “How much can be spent?” If the company spends too little money. 2. some of the money will be wasted. marketing managers must always start by identifying the target market and buyer motives. known as five Ms: 1. So the company should make the budget of the advertisement. Measurement: The description of these points is as follows. 1. And Bharti AXA Life also makes the budget for the advertisements. the effect will be negligible. Mission: 2. Media: 5. Mission: “What are the advertising objectives?” The mission of the advertising of Bharti AXA Life is to increase the sales of policy and also for the awareness of the company and its plans. 49 .
Appointment is taken from a person whoever is interested in taking policy. After 50 . Media: “What media should be used?” There are many types of media which is used by Bharti AXA Life which are TV. print. The data can also be collected from the AIRTEL service provider. Message: “What message should be sent?” Logo of the Bharti AXA Life is “be life confident” This logo sends the message that takes the insurance and makes your life free from circumstances and live the life with confident. websites and other new Medias. outdoor.3. Measurement: “How should the result be evaluated?” Good planning and control of advertising depend on measures of advertising effectiveness. Most measurement of advertising effectiveness deals with specific ads. For tax benefit purpose they may take policy. 4. The data is collected from a bank of such person that has that much amount of money that the tax can be levied on that. 5. MARKETING STERTAGY AT BHARTI AXA LIFE INSURANCE 1.
that the agent calls them and if they are interested in taking policy. Right media selection is therefore crux of the success of entire advertising campaign. Effective advertising refers t o informing the public about the right product at the right time through right medium. There are many plans at Bharti AXA insurance like. Different documents are filled up. by that way they aid in closing the gap between producer and consumer. 51 . Conveying a right message through a wrong medium at the wrong time would be definite waste of resources. save confident plan. MEDIA Advertising media is a vehicle which carries sales manager of an advertiser to the prospects. The plans are explained. investment plan. aspire life etc. secure confident plan. 2. Then the person who undergone this process becomes policy holder. they give appointment. 3.
• Representatives of intermediaries • Telephone solicitations • Videos • Fax COMPITITORS The most important role playing in the existing of the company is of the competitors. television. magazines • Billboards. SMS. hoardings and panels • Radio. website. email. The competitors of Bharti AXA Life are as follows: • Meiji yasuda life –Japan • Nippon life insurance –Japan 52 .Different types of marketing media of Bharti AXA Life are as follows: • News papers.
• Sumitomo life -Japan PROCESS OF SALES MANAGER FUNCTIONS Customer services process flow: Proposal forms received from branches at HO Reconcile the proposals received against the transmittal form 53 .
– 3 customer services process) PUBLIC RELATIONS MEANING OF PUBLIC: “A public is any group that has an actual or potential interest in or impact on a company’s ability to achieve its objectives.Quality check on proposals/documents attached Sent to underwriter Under written proposals which are accepted are received back Check from client &issue Dispatch policies to clients Confirm the receipt of policies from branches (Chart no.” MEANING OF PUBLIC RELATIONS: 54 .
• It helps in introduction of new products by providing information about them to news media by press release and any other way. products in eyes of consumer. • It helps in influencing specific groups and establishing relationship with them which may be favourable to organization. • It helps in improving sagging image of existing product in repositioning it in the market. It’s aim is to build the goodwill and good image. Bharti AXA Life maintain the public relation like as • It releases the press kits. • It celebrates the all Indian events in all its branches. The importance of public relation is as follows: • It helps in creating a good and favourable image of co.“Public relation involves a variety of programs designed to promote or protect a company’s image or its individual products. • It organizes the seminars periodically of the advisor of Bharti AXA Life. • It releases the annual report. on decisions affecting the organization. • It helps in influencing national and local govt.” Public relation is referred to everything that is conducted to improve mutual understanding between organization and target groups. 55 .
Alternatively you could fax your message to 022-40306347 or write to us at the address mentioned in our contact details. Today. And thus it improves their relation with the customers. DIRECT MARKETING Direct marketing is an interactive marketing system that uses one or More advertising media to affect a measurable response and transaction at any location. that of building a long term relationship with the customer.com. many direct marketers see direct marketing as playing a broader role.unit@bharti-axalife. Direct marketer occasionally sends birthday cards. 56 . For any service request regarding your Bharti AXA Life insurance policy or information on any of our products and services please write into service@bharti-axalife. information materials or small premiums.PROVIDE YOUR FEEDBACK TO US At Bharti AXA we are committed to delivering customer delight by adhering to the gold standards of customer service. If you have encountered a problem or wish to escalate a service issue please write into complaints.com.
specialty consumer catalogs and business catalogs. and provide service by taking orders and answering questions. usually in print form but also sometimes as CDs. Catalog marketing: In catalog marketing. reminder or other item to an individual customer. 57 .Bharti AXA Life also makes the direct marketing with the customers and also increases its sales of different plans. announcement. companies may send full line merchandise catalogs. videos or online. Telemarketing: Telemarketing is the use of the telephone and calls centers to attract prospects. sell to existing customers. Bharti AXA Life uses the direct mail and telemarketing as the tool of direct marketing. Tool of direct marketing Direct mail: Direct mail marketing means sending offers.
58 . Against the background of a very challenging business and economy scenario of the country. Bharti AXA Life concluded yet another year of satisfying results by improving operating margins significantly. The background of the company is strong enough to resist the imbalance of the market as well as the company.CONCLUSION At the end I would like to conclude that the overall accounting policies of company are well structured. They have been able to manage working capital components efficiently.
SUMMERY • Goal setting is a most important exercises for both advisor and the sales manager • If done well it can help to motivate and get best results from all advisors • Goal setting must lead to an actionable activity play for the short-term • Goal setting is all about agreeing on a plan and working diligently to make it happens.They shows that the society is stronger and more efficient and further shoe a consistent trend towards growth and cost efficiency. 59 .
Particulars 1 2 3 4 Plant at glance-future confident Plant at glance-wealth confident Plant at glance-save confident Surrendering value Page no. 30 32 34 37 60 .• Goal setting is an on going exercise. APPENDIX LIST OF TABLES Sr no.
Particulars 1 2 3 Dream life pension Distribution channel Page no. Kotler Philip. Marketing Management 11e. • Brouchers of Bharti AXA Life 61 . published by Pearson Edition (Singapore) Pvt. Life Insurance by ICFAI press.. Indian Branch. 36 47 Customer services process 58 BIBILIOGRAPHY BOOKS AND MAGAZINES • • • Business India. Delhi. Ltd.5 6 7 Plant at glance-dream life pension 37 Different premium & sum assured 43 Coverage area 48 LIST OF CHART Sr no.