TABLE OF CONTENT

1.0 INTRODUCTION…..............................................2

2.0 PROBLEM STATEMENT……………………… 2 - 5

3.0 RESEARCH OBJECTIVES …………………… 6 - 10

4.0 BENEFIT TO THE COMPANY……………... 10 - 12

5.0 LAYOUT OF THE PROJECT PAPER

( FINAL REPORT )…........................................13

6.0 SUMMARY …………………………………..…13 - 14

7.0 INTRODUCTION...............................................15

8.0 METHODOLOGY ………………………… ….15 - 22

9.0 SUMMARY..........................................................22
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 CHAPTER 1
1.0 Introduction

In this chapter, discussion will be focused on identifying and stating

the research problem, formulating the research objectives and
purposes of the research, deciding on scope of the research and
underlining the significance of the research. In general this
topic will able to give an insight of the direction of the
research and its deliverables.

2.0 Problem Statement

2.1 Poor in customer services.

2.2 Reason for poor customer services:-

- Employees doesn’t believe their company

- Employees do not care about their company images

- Employees are not well being trained

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 - Sabotage happened among the employees

2.3Inbound marketing is customers focused and inherently aids for

customers. Therefore, this kind of situation are usually
considered an universally unacceptable as following:-

- Long waiting response period

- Poor attention in details

- Unprofessional and impersonal interactions

2.4 Quality services is defined as the judgment or perception

resulting from customer’s evaluation processes, whereby
customers would compare their expectation with the other
services where they perceive while they’ve received.

2.5 The insurance industry, as well as the larger business industry or

fields whereby there are service orientated and, as the sales
sector is one of the largest contributors to the market labor
force. While investigating the quality of services delivery
essential.
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2.6However, the performance of employees in this company is seen
as a critical dimension of quality for, as for as the customer is
concerned the employee’s performance constitutes in their service
delivered.

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 RESEARCH MODEL
1. Plans and procedures 4.Monitoring and controlling

2. Roles and workflow 5.Analysis

3.Quality characteristics 6.Identification

Reliability Assurance

Customer Statisfaction

Or
Purchase Behaviour

Responsiveness Empathy

7. Delivery of services 10. Specialist

8. Management 11. Core systems providers

9. Outcomes and goals 12. Risk and underwriting

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3.0 RESEARCH OBJECTIVES

3.1 MAIN RESEARCH OBJECTIVES

The purpose of research objectives is to drive the research project,

including data collection, analysis and conclusions. Research
objectives also help you narrow in on the focus of your research
and key variables, guiding you through the research process.

3.2 SPECIFIC RESEARCH OBJECTIVES

Specific objectives break down the general objective into smaller,

logically connected parts that systematically address the various
aspects of the problem. Your specific objectives should specify
exactly what you will do in each phase of your study, how,
where,
when and for what purpose.

Our objectives should be stated using action verbs that are

specific enough to be measured, for example: to compare, to
calculate, to assess, to determine, to verify, to calculate, to

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describe, to explain, etc. Avoid the use of vague non-active
verbs such as: to appreciate, to understand, to believe, to study,
etc., because it is difficult to evaluate whether they have been
achieved.

3.2.1 Pinpoint the major focus of your research

The first step to defining our research objectives is to

pinpoint the major focus of our research project. In this step,
make sure to clearly describe what we aim to achieve
through our research. We can identify a research focus by
reading through our industry's literature and finding gaps in
existing research. Once we find a gap that we can fill
through our research project, we can start narrowing down a
focus for our research project and setting an overall goal
that we want to achieve through our research.

3.2.2 Break down your research focus into research

objectives

Once we know the primary goal of our research project, we

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 can break it down into smaller steps and separate
objectives.
We can choose one general objective and a few other
specific, narrow objectives. In the general objective, state
in a broad sense what we aim to achieve through our
research. Then, use the specific objectives to describe how
we can achieve our general goal.

For example, your general objective could be, "Determine

how work environment affects performance." In this case,
your specific objectives might be, "Determine whether
sunlight improves performance," and "Measure how
performance changes when work environment changes."

3.2.3 Write your research objectives in the SMART format

Another key step to defining strong research objectives is

writing them in the SMART format. Using the format can
make our objectives clearer and easier to understand,
which can make us more likely to achieve them. Make sure
our objectives meet these criteria:-

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- Specific: Be specific about your desired outcomes. Your

objectives should be clearly written and leave no room for

confusion. This can help you keep them narrow and focused.

- Measurable: Making your objectives measurable is essential

to achieving them. You can create metrics to measure your

progress toward achieving your objectives.

- Achievable: Be sure to create objectives that you can

realistically achieve to help you avoid getting overwhelmed by

unrealistic expectations. Make sure you have the resources

and budget to accomplish your objectives.

- Relevant: Make your objectives relevant to your research and

your overall goals. This can help you stay motivated and on

track throughout your research project.

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 - Time-based: You can establish deadlines to help you keep

your research process on track. You can set a major deadline

for your entire project as well as smaller deadlines for each

objective.

3.2.4 Proofread and review your objectives

It's also important to proofread and review our objectives to

make sure they're free of typos and other errors. Check our
spelling and grammar to ensure that our objectives appear
professional and perfectly accurate.

4.0 BENEFIT TO THE COMPANY

Insurance is a part and parcel of the modern world. People like to

ensure what they consider as an asset. There are excellent services
provided by an insurance business to avail of such benefits. How can
we understand that our business is being trusted by the target audience?
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The answers lie in market research.

Market research is a mandatory part of an insurance business when

something new is to be launched. It helps to find out the current
condition of the business. Questions answered by customers and the
image pertained to our business can be improved significantly when
we directly interact with the consumers.

Understanding Audience

A business simply is a service provided to a customer. If we cannot

recognize the needs of customers in a market, we cannot make new
products that would sell. This is rather the most important part to find
out what kind of insurance products and services we need to design to
capture a market. For this, we will need market research. On doing such
operations, we can practically read the minds of an audience and even
answer their pain points using our redefined services.

Competition

We are not alone in the market. Brands are competing with our business.

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How can we identify the impact of other brands in the market? The same
tool of market research can deliver the answer we are looking for. The
approach of competitors can be defined. The pros and cons of their
services will also be evaluated perfectly offering our immense insights
into the existing market. This tool can be used as an assessment platform
here we can identify the key players and our contemporary condition.

Testing platform

Why should we take unnecessary risks when we can give a trial run?
Market research can seek excellent information regarding an insurance
product by demonstrating to the leads and allowing them to be the first
to try out. With rewards and propositions, we can check whether the
target audience is showing interest in our insurance plans or not. Market
research tools also deliver a track for a test run of our new insurance
products.

In here, market research can be a great tool to invest in to check the

contemporary condition of our insurance business. We can find out
where we need to emphasize and serve the customers better and also
create an existence of our brand in the market.

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5.0 LAYOUT OF THE PROJECT PAPER ( FINAL REPORT )

CHAPTER SUBJECT
1 INTRODUCTION

2 ORGANISATION
BACKGROUND/ INDUSTRY
BACKGROUND/ LITERATURE
REVIEW

3 RESEARCH DESIGN

4 DATA ANAYLSIS AND

FINDING

5 CONCLUSION

6.0 SUMMARY

In conclusion, the insurance market includes a wide range of

insurance products, including vehicle, health, travel, life insurance,
property and casualty insurance, among others. The reports in this
section are reflective of the broad range of the insurance market, with

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publications that present data on a large variety of topics. Insurance
company profiles are available, with reports focusing on the insurance
market in specific nations as well as international comparisons. Reports
present data on premiums and claims, distribution channels, market
forecasts, and plan reviews.

All effective survey administration processes begin with an

effective survey design, and business research understands
what it takes to deliver results. Whether the survey is conducted by
telephone, online or in-person, business research gathers the
right balance of general impressions and detailed facts through strategic
questions that allow insurance clients to analyze the correct data for their
needs.

As we know that data analysis is an invaluable tool in the

Information Age. Analyzing data means that the information isn’t
simply observed by the numbers, it is carefully monitored for quality
performance. Knowing how to read data is critical to success in the
insurance business, and the data analysis and testing techniques achieve
this success with each client. These comprehensive services include
factor analysis, perceptual mapping, price elasticity, and more.

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 CHAPTER 3
7.0 INTRODUCTION

This chapter demonstrates the methods of implementing are

search work, primarily delineating the research model, identifying
the appropriate research design, discussion on the possible data
collection methods, targeting the right population sample,
formulating questionnaires and measurement / scale,
and identifying the appropriate statistic analysis techniques.

8.0 METHODOLOGY

To get a better understanding and to conduct an investigation on

the problem statement, a rigorous research needs to be done. The
initial part of this research will lead to information collection.
Various methods of research can be implemented; such as
questionnaires, interviews, observations and documentation review
which will subsequently get this study meet it objective.

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8.1 TYPEOFRESEARCHDESIGN

Based on the book written by Davis(1995)a research design is

a frame work or blue print for conducting the research project.
It details the procedures necessary to obtaining information
needed to structure and solving the research problem
(Sundram,Chandran,&Bhatti,2012). Research design can be
classified as exploratory research and conclusive research.
In this study, a conclusive research design will be employed
(descriptive or causal) because it typically more formal and
structure compared than the exploratory research.

8.2 DATACOLLECTION

This research utilizes data from various sources such as

primary data from questionnaire survey and secondary data
from company internal report such as annual reports, interim
reports, periodical survey reports and etc.

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8.2.1 Primary Data

A five-page questionnaire with 12 questions was devised

and distributed to the sample respondents.

8.2.2 Secondary Data

As for the secondary data, it is collected internally and
externally (Sundram,Rajagopal&Bhatti,2013).
Some of the data, which is related, could be also obtain
from various Internet sources. From the Internet, there are
thousand of sources about inventory management. The
data is also taken from the company presentation slide and
reports. Most importantly ,references are made from
books and journals, which provide more elaborative
information with research base evidences. As such,
it makes this research data and information more accurate
and densely.

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8.3 SAMPLING PROCEDURE & TECHNIQUES

The sampling technique used in this study is probability sampling,

which is simple random sampling technique. Probability sampling as
defined by Sekaran (2004) as each element in the population do have
equal probability or chance to be selected as sample subject.
Meanwhile, simple random sampling technique is referred as to the
collection of information from the members of the population who
randomly selected from the sampling or population frame
(Bhatti,&Sundram2014; Shamsuri,2004).

8.3.1 SAMPLING METHOD

In research investigation involving several hundred and even

Thousands of elements ,it would be practically impossible to
collect data from, or test, or examine every element ( Bhatti &
Sundram,2014). Even if it were possible, it would be
prohibitive in terms of time, cost and other human resources.
Therefore, for the questionnaires distribution, the researcher
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 used the probability sampling called simple random sampling
techniques in order to select the respondent. This is because it
has the least bias and offers the most generalizability( Sundram
& Chandran,2010).

8.3.2 POPULATION & SAMPLE SIZE

According to Cooper and Schindler,(2001),population refer to

the entire group of people, events, or things of interest that
researcher wishes to investigate. The population for this
study refers to the research design relates to
questionnaire design, sampling design, data collection
and data analysis procedure in an insurance company.
Sampling size refers
to a number of units of respondents to be included in a study and
determined based on the size of the population
(Sundram,Chandran & Bhatti,2012). For this research,30
respondents will be selected from the total population of 100 and
later answers all the questions in the questionnaires.

8.4 MEASUREMENT & SCALING TECHNIQUE

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 In order to have significant and reliable information that appropriate
with the field work study, certain proper’s calling technique must be
adopted. Therefore, questionnaires should include of the following
scaling:

8.4.1 Close-Ended Question-Dichotomous Scale

The respondents are required to choose either Yes or No answer.

Example:
Do you think that inventory is one of the important elements that
can affect company profit?

Yes No

8.4.2 Open-Ended Question

The open-ended question allowing respondents to comment on

any aspects they choose (Moore,2006;Partingson2002). It would
end with an expression of sincere thanks to respondent. The part
of the questionnaire could look the following.

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8.5 DATA ANALYSIS TECHNIQUES

The process of analyzes a data and finding analysis begins after all
the data and information had been gathered through the data
collection method (Hackey,2003;Hussey&Hussey,1997;Koop,2000).
Through this process, the researcher determined the influence
between the variable through descriptive analysis in order to test all
the research questions (Bhatti,Hee,&Sundram(2012). Later the
tabulated results are interpretation. Microsoft Excel is used to
calculate data and present more accurate and quick result with
graphical explanation.

8.5.1 Cross Tabulation

Cross tabulation used when the data will be presented in a form

of percentage and some are also presented in both frequency \
and percentage. The important of cross tabulation is to indicate
the relationship or association of one variable to another variable
of study.
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 8.5.2 Frequency Distribution
The purpose of the frequency distribution is to obtain account
of the number of responses associated with different values of
one variable where these amounts are usually in percentage.

9.0 SUMMARY
The primary reason for the study was to learn through administration
of questionnaires on the research objectives, provides complete and
accurate information in a successful survey. Baring in mind the
limitation of this study, only a small–scale investigation could be
executed due to time constraint and confidentiality. More studies of
the same nature need to be conducted before any conclusive result
can be claimed.

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REFERENCES

Bhatti,M.A.,&Sundram V.P.K.(2014).Business Research,Qualitative and

Quantitative Methods, Kuala Lumpur :Pearson Publication.

Bhatti,M.A.,Hee,H.C.,&Sundram V.P.K.(2012).Data AnalysisusingSPSS

and AMOS. Kuala Lumpur: Pearson Publication.

CooperD.RandSchindlerP.S.,(2001)BusinessResearchMethods,7thEdition,

New York,McGraw-HillIrwin.

DavisD.,(1995)BusinessResearchforDecisionMaking,4th Edition,United

States of America,Duxbury Press.

HackeyC.,(2003)Doing Research Projects in Marketing, Management and

Consumer Research, London,Routledge,Taylor & FrancisGroup.

HusseyJ.,and HusseyR.,(1997)Business Research:A Practical guide for

under graduate and postgraduate students,NewYork,Palgrave.

KoopG.,(2000)Analysis of Economic Data,England,JohnWiley&Sons,Ltd.

Moore,N.(2006)How to do Research:Apracticalguidetodesigningand

managing research projects 3rd Edition,London,FacetPublication.

PartingtonD.,(2002)EssentialSkillsforManagementResearch,London,

SAGE Publication.

Sekaran U.,(2004)Research Methodology for Business:A Skill Building

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 Approach4thEdition,Southern Illinois University, John Wiley

&Son,Inc.

ShamsuriS.,(2004)ResearchMethodsfortheSocialSciences,Malaysia,DSS

Publishing Enterprise.

Sundram,V.P.K.,Chandran,V.,&Bhatti,M.A.(2012).ResearchMethods-A

workbook. ShahAlam,Selangor:UPENA-Universiti Teknologi

MARA.

Sundram,V.P.K.,&Chandran,V.(2010).Research Methods.ASimple

Guide for Business Undergraduate,Shah Alam, Selangor:

UPENA-Universiti Teknologi MARA.

Sundram,V.P.K.,Rajagopal,P.& Bhatti,M.A.(2013).Social Science

Research Methods: A Quantitative Approach, Petaling Jaya,

Selangor: Malaysian Association of Productivity.

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 QUESTIONNAIRES
1.0 Introduction

Q1. Do you wish to participate in this survey?

Please tick only one answer.

Yes

No

Note: If the answer is no, the respondent is forwarded to the

conclusion.

Q2. How old are you?

Please tick only one answer.

less than 18 18– 30 31- 45

45 – 60 above 60

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Q3. What is your gender?
Please tick only one answer.

Female Male

Q4. Do you have an insurance policy?

Yes No

Q5. What type of insurance do you have?

Private Public

Q6. Who influenced you to get an insurance policy?

The media

Insurance agents
Federal government

Friends, family and

colleagues Other

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2.0 Problem Statement

Q7. How many insurance policies do you currently have?

More than 5

Q8. What kind of insurance policies do you have? Check as many as

you’d like.

Savings policy
Whole life policy
Endowment policy
Money back policy

Automobile insurance
Pension plan policy

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 Property insurance
Any other
Q9. What is the average term of the policies you have?

Up to 5 yrs.

Above 20 years.

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3.0 Research Objectives

Q10. Have you ever received any benefits from any of the policies
you currently have?

Yes No

Q11. If yes, how many times have you received it?

More than three

Q12. How regularly do you pay your premiums?

Monthly Quarterly

Half year Yearly

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4.0 Benefit To The Company

Q13. Has any of your policies ever lapsed due to non-payment of

premiums?

Yes No

Q14. Have you received any incentives from your insurance company
on the insurance premiums?

Yes No

Q15. Are you aware of any insurance bonuses of your policies?

Yes No

Q16. Have you ever surrendered any insurance policy?

Yes No

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