SYNOPSIS

“Marketing Strategies of IDBI Federal Life Insurance Company”

Submitted by: Shubham kumar

Submitted to:Dr. Mani Manjari
Enrollment no. :40120803918
Course: MBA (3rdsem)
Name of company: IDBI Federal Life Insurance Company

Company overview

IDBI Federal Life Insurance Co Ltd. is a three way joint-

Type Joint Venture
venture of IDBI Bank, an Indian development and
commercial bank; Federal Bank, one of India’s Industry Life insurance
leadingprivate sector banks and Ageas, a multinational
Founded March 2008[1]
insurance giant based out of Europe.
Headquarter Headquarters in Mumbai, India
IDBI Federal distributes its products through a multi- s
channel network consisting of Insurance agents, Banc
assurance partners (IDBI Bank, Federal Bank) Direct Key people Vighnesh Shahane, CEO &
Whole Time Director
channel, and Insurance Brokers.
Products Life insurance

Area of project – Marketing

Vision
Recognized as a leading provider of wealth management, protection and retirement prepositions
that satisfy the needs and adds value to key customer segments.

Mission

Strive to enhance the customer experience, in relationship management and service delivery and
interact with our customers in the most convenient and cost effective manner.

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 Objectives of the project
1. Analysis of Customer Perception of the insuranceindustry.
2. To suggest marketing methodologies to increase business of IDBI-Federal LifeInsurance.
3. To get hands on experience of doing sales for thecompany and build relationship with
customers.

Scope of project
 Study will help the company to make product marketing strategy.
 Study will help the company to Know about new customerl.
 Study will help to discover the new areas
 Study will help to generate new leads

RESEARCH METHODOLOGY

Dataapproaches : Questionnaire.
Samplesize : 100

Sampleprocedure : Conveniencesampling.

ResearchDesign : Descriptive.

For the study: for conducting that research I selected the Descriptive research design

DATA SOURCE
Primary Data- Interviews, Group Discussions, and Structured questionnaires is been used to
collect Primary information on customers andmarketers.

Secondary Data– Is collected from Business Magazines, Manual of advertisements,

Websites, Official Publication, Industry market report, Local and International Newspapers,
Articles, Journals, Brochures and Books.

Sample Design

Sample unit
Extent - The samples for the survey will be collected from New Delhi

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 Sampling Frame -
Sampling Technique - Random Sampling procedure is used.
Sample Size - The size of the sample will be about 50 comprising respondents of different
socioeconomic profile (Age/ Gender/ Occupation/ Income Level/ Rural or Urban/ Education
Level).

TOOLS USED– MS EXCEL AND MS WORD

CONCLUSION.

The high level of customer interaction and understanding the different behavior associated
with the client. And helps to know how can retain existing customers and to know about new
customer and making new customer

Getting associated with Insurance industry which is fastest growing insurance company in
India. Learning all the important points which affect the pricing and selling of company’s
product.

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