TABLE OF CONTENTS:

__ Pages

1. INRTODUCTION:-………………………………………………………………………………………….…… 1-19
1.1. Company Profile………………………………………………………….………………………………. 3
1.2. Corporate Profile……………………………………………………………………………………….…. 5
1.3. Objective of the Study…………………………………………………………………………………… 19

2. LITERATURE REVIEW:-…………………………………………………………………………..…………. 20-29

2.1. Indian Insurance Industry History………………………………….…………………………… 20
2.2. Indian Insurance Sector Reform…………………………………………………………………… 21
2.3. Key Milestone……………………………………………………………………………………………… 22
2.4. IRDA…………………………………………………………………………………………………………… 24

3. RESEARCH METHODOLOGY:-…………………………………………………………………………… 30-34

3.1. Marketing Research Process……………………………………………………………………… 30
3.2. Data Collection…………………………………………………………………………………………… 32
3.3. Limitations of the Study……………………………………………………………………………. 34

4. DATA ANALYSIS:-………………………………………………………………………………………...… 35-53

5. FINDINGS:-………………………………………………………………………………………….…………… 54

6. CONCLUSION:-……………………………………………………………………………………………….… 55

a) References…………………………………………………………………………………………….…… 56
b) ANNEXURE- Questionnaire………………………………………………………………………… 57-58
 EXECUTIVE SUMMARY:

This project was carried out in the MARKETING/HR department of BHARTI AXA Life
insurance co. Bhubaneswar. Bharti AXA Life insurance is only concern with life insurance
and General insurance.

The objective of this project is to study the entire ANALYSIS OF BHARTI-AXA RANGE
OF SERVICES processes at Bharti AXA Life insurance. The Marketing cum HR Department
of Bharti AXA Life insurance carries out both these functions quite effectively. Hence, the
range of services is studied thoroughly and some inferences accordingly. The data and
information collected is with respect to working procedure specifically regarding research
analysis, the data referred for this study is for the year 2007 - 11. I have applied the concept
and gained knowledge learned during the course in at CMRD In practical business situation
and understood these concepts in better way. The research work really has poured of
immense learning for me. I would like to thank whole heartedly to Bharti AXA and CMRD,
for giving me this exposure.
1: INTRODUCTION:
Why Insurance sector?
The service industry is one of the fastest growing sectors in India today. The upcoming
sectors which are really showing the graph towards upwards are - Telecom, Banking, and
Insurance. These sectors really have a lot of responsibility towards the economy.

Amongst the above-mentioned areas insurance is one sector, which took a lot of time in
positioning itself. The insurance business of non-life companies was not much in problems
but the major problem was with life insurance. Life Insurance Corporation of India had
monopoly for more than 45 years, but the picture then was completely different. Previously
people felt that “Insurance is only for classes not for masses” but now the picture is vice-
versa.

The formation of IRDA, entrance of private life insurance companies into India with one
foreign partner, compulsory training of Insurance agents etc. developments started to take
place. And this was the time when these companies started searching for proper channel
partners who can help the organization in expanding its network and business in India.

After the Insurance Regulatory and Development Authority Act have been passed there has
been establishment of many private insurance companies in India. Previously there was a
monopoly business for Life Insurance Corporation of India (L.I.C.) who was the only life-
insurance company for the people till 2000. L.I.C. still holds 71.4% of the market share in
2006.

But after the introduction of private life insurance companies there is a great competition in
Indian market now. Everyone is trying to capture the fresh market here and penetrate it with
aggressive marketing strategies.

In India only 25% of the population has life insurance. So Indian life-insurance market is the
target market of all the companies who either want to extend or diversify their business.

Insurance is such industry where labour turnover is the maximum than that of any other
industry hence there is lot of scope for HR to work in recruitment and selection process.

On the whole Bharti AXA life insurance is a good place to work at. Every new recruit is
provided with extensive training on unit linked funds, financial instruments and the products of
Bharti AXA. This training enables an advisor/sales manager to market the policies better. The
company should try to create awareness about itself in India. In the global market it is already
very popular. With an improvement in the sales techniques used, a fair bit of advertising and
modifications to the existing product portfolio, Bharti AXA would be all set to capture the
insurance market in India as it has around the globe.
1.1: COMPANY PROFILE:

Bharti AXA Life is a life insurance player that was started in 2006. It brings together strong
financial expertise of the Paris-headquartered AXA Group, and Bharti Enterprises - one of
India's leading business groups with interests in telecom, agricultural business, financial
services, and retail. The joint venture has a 74% stake from Bharti and 26% stake from AXA
Asia Pacific Holdings Ltd. (APH) .The Company launched national operations in December
2006.

Bharti Enterprises is one of India’s leading business groups with interests in telecom, agri
business, insurance and retail. Bharti has been a pioneering force in the telecom sector with
many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is one of
India’s leading private sector providers of telecommunications services with an aggregate of
60 million customers, spanning mobile, fixed line, broadband and enterprise services. Bharti
Airtel was ranked amongst the best performing companies in the world in the Business Week
IT 100 list 2007. Bharti Teletech is the country’s largest manufacturer and exporter of
telephone terminals. Bharti has a joint venture with ELRO Holdings India Ltd. – ‘Field Fresh
Foods Pvt. Ltd’ - for global distribution of fresh fruits and vegetables. Bharti also has a joint
venture - ‘Bharti AXA Life Insurance Company Ltd.’ - with AXA, world leader in financial
protection and wealth management. Bharti has recently forayed into the retail business under
a company called Bharti Retail Pvt. Ltd. It also has a joint venture – ‘Bharti Wal-Mart Private
Limited’ – with Wal-Mart, for wholesale cash-and-carry and back-end supply chain
management operations.

AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse
geographically, with major operations in Western Europe, North America and the
Asia/Pacific area. AXA had Euro 1,315 billion in assets under management as of December
31, 2006. For full year 2006, IFRS revenues amounted to Euro 79 billion, IFRS underlying
earnings amounted to Euro 4,010 million and IFRS adjusted earnings to Euro 5,140 million.
The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock
Exchange. The AXA American Depository Share is also listed on the NYSE under the ticker
symbol AXA.
We undertook an in-depth analysis wherein we identified the notion of preference was totally
related to the trust granted to various names in insurance and financial services. The level of
trust is very inadequate today, regardless of the brand considered. This is because the
perception of consumers is that we are all evolving only in "a world of promises." And this is
what we have to redefine.

Beyond promises... proof

We don't want to make promises any more. Instead, we want to demonstrate our ability to
respond to client needs with real and tangible proof and, in so doing, to establish an authentic
relationship of trust with our clients.

These are the three attitudes that clients most expect from an insurance and financial services
company in exchange for their vote of confidence. These three attitudes stood out from the
others in the consumer research we conducted across markets, regardless of their level of
maturity.

They are at the heart of our actions and our commitments to clients.
1.2: CORPORATE PROFILE:
Bharti AXA Life Insurance is joint ventures between Bharti, one of India’s leading business
groups with interests in telecom, agree business and retail, and AXA, world leader in
financial protection and wealth management. The joint venture company has a 74% stake
from Bharti and 26% stake of AXA.

The company launched national operations in December 2006. Today, company has over
5200 employees across over 12 states in the country. Our business philosophy is built around
the promise of making people "Life Confident".

As company expand our presence across the country to cater to your insurance and wealth
management needs with our product and service offerings, company continue to bring 'life
confidence' to customers spread across India. Whatever your plans in life, you can be
confident that Bharti AXA Life will offer the right financial solutions to help you achieve
them. Company is working on the base of five core values-

 Professionalism

 Innovation

 Team Spirit

 Pragmatism

 Integrity

BHARTI ENTERPRISES

BHARTI BHARTI BHARTI BHARTI BHARTI

TELETECH TELECOM FOOD SEYCHELLES TELESOFT

TELETECH BHARTI
SERVICES TELEVENTURE

50 Million (500 Lakhs Customers)

130,000 Employees
72 Billion Euros (Rs. 4, 16,300. Cores) Revenue
869 Billion Euros (Rs.50 24, 500.Crores) Asset under Management
Key features:
 Using multi-distribution, multi product platform techniques.
 Adapting AXA's best practices as a sound platform for profitable growth.
 Leveraging Bharti's local knowledge, infrastructure and customer base.
 Delivering high levels of shareholder return.
 Building long term value with business partners by enhancing the proposition to
their customers.
 Retaining the best talent in India.
Our Philosophy: Available, Reliable and Attentive to our customer’s needs

Vision:
To be a leader and the preferred company for financial protection and wealth management in
India.

Bharti AXA Life Insurance Growing Presence:

Number of cities - 111
Number of offices - 163
Number of Agents - 30,000 PLUS
.
Promoter's Strength:

Bharti Enterprises is one of India’s leading business groups with interests in telecom; agree
business, insurance and retail. Its flagship telecom brand 'Airtel', has over 60 million
customers across the length and breadth of India.

AXA Group is worldwide leader in Financial Protection. AXA is among Fortune Global 15
companies having 120,000 employees and is represented in over 60 countries worldwide.

Largest Insurer:
AXA Group has 120,000 employees and is represented in over 60 countries worldwide

Service Excellence:
Company stand by three main commitments to our customers and agents, effective local
service, professional expertise, and professional code of ethics. Company aim to build close
and lasting relationships by offering expert advice, providing a supportive environment and a
full range of adapted solutions.

Information Technology Driven:

Our commitment and continuous investment in Information Technology enables the
Company to provide unparalleled customer service.
Bharti AXA Club Member:
Become a Bharti AXA Club Member and enjoy additional benefits.

Bharti AXA's Support for Our Agents:

Company is looking for bright, self-motivated people who want to build a successful career
in insurance sales and consultancy. We offer good financial rewards and recognition,
comprehensive training, excellent back-up and the full support of a world-class organization.

Bharti-AXA fund returns are above the median returns of the Industry*:

3Mth RANK 1Yr. RANK 2Yr. RANK

Bharti-
AXA 8.92% 3 57.48% 6 3.31% 4
Grow
Money
Bharti-
AXA
Pension 8.96% 2 57.62% 5 3.46% 3
Grow
Money

The equity fund performance for all periods for the above funds is within the top six in the
industry.

*Published data- Inconversation Newsletter

Bharti-AXA offers a range of innovative products to cater to the insurance and wealth
management needs of our customers.

INDIVIDUAL PLANS:

 PROTECTION:
 Bharti-AXA Life ELITE Secure
 Bharti-AXA Life Secure Confident
 Bharti-AXA Life Family Income Secure
 Bharti-AXA Life Protect Plus
 Bharti-AXA Life Premium Waiver Rider
 WEALTH CREATION WITH PROTECTION:

 CHILD PLANS:
1. Bharti-AXA Life Bright Stars Edge
2. Bharti-AXA Life Future Champs
3. Bharti-AXA Life Power Kid Insurance Plan
 GURANTEED PLANS:
1. Bharti-AXA Life Save Confident
2. Bharti-AXA Life True Wealth
3. Bharti-AXA Life Aajeevan anand
4. Bharti-AXA Life Monthly Income Plan
 OTHER MARKET LINK PLANS:
1. Bharti-AXA Life Wealth One
 WEALTH:
 Bharti-AXA Life Triple Health Insurance Plan
 Bharti-AXA Life Easy Health
 RETIREMENT:
 Bharti-AXA Life Wonder Years Retirement Plan

GROUP PLANS:
 LIFE INSURANCE:
 Bharti-AXA Life Shield
 Bharti-AXA Life Sanjeevani
 CREDIT PROTECTION:
 Bharti-AXA Life Credit Secure
 Bharti-AXA Life Mortgage Credit Shield
 Bharti-AXA Life Credit shield
 Bharti-AXA Life Premier Protect Home Shield
 HEALTH:
 Bharti-AXA Life Swasthya Sanjeevani
Investment Philosophy:

Our investment philosophy is carved out from stringent and robust investment policies. Risk
management is an integral part of our investment processes. The company has well-defined
risk policies and process covering both portfolio and process risks. Our equity investments
are currently made primarily in large cap stocks (>85%), as large cap stocks are less volatile
than mid cap or small cap stocks.
The debt portfolio of the company is currently invested only in highest credit quality assets
i.e. Government of India securities and securities issued by AAA rated companies. A
reasonable level of liquidity is maintained with the respective funds so as to enable smooth
redemption processes on account of switches, claims etc.
Organization Structure:

Works through many channels marketing, human resource, finance, information technology,

Marketing wing is divided into -

1) DIRECT SALES FORCE – Have two tired salaried adviser force to target the large and
diverse Bharti Airtel customer base.

2) AGENCY-focus on building a highly productive agency force. This wing needs high
quality of training, and high quality recruitment.

3) BANK ASSURANCE- planes for developing strategic partnership with quality banks.

4) CORPORATE AGENCY AND BROKING CHANNEL- planes for developing

strategic partnership.
Direct Sales Force:

HOM

ZSM

RSM

ARSM
AM
AAM

SR.SM
SM

SM SM-G SM-D

FO FO-G FO-D
FA
FE FE-G FE-D

 HOM – Head of Marketing

 ZSM – Zonal Sales Manager
 RSM – Regional Sales Manager
 ARSM – Associate Regional Sales Manager
 AAM – Associate Area Manager
 SM – Sales Manager
 FO – Financial Officer
 FE – Financial Executive
Agency Structure:

Agency Head

RM

ARSM

BSM

MOA

Advisor

 MOA – Agency Manager

 BSM – Branch Sales Manger

Strategy:
 To achieve a top 5 market position in India through a multi-distribution, multi-product
platform
 To adapt AXA's best practice blueprints as a sound platform for profitable growth
 To leverage Bharti's local knowledge, infrastructure and customer base
 To deliver high levels of shareholder return
 To build long term value with our business partners by enhancing the proposition to
their customers
 To be the employer of choice to attract and retain the best talent in India
 To be recognized as being close and qualified by our customers

Strategic differentiators:
 Strong partner Bharti - provides access to customer base of more than 20 million
 Multi channel execution capability
 Current Asia product range which is a strong match to products sold to the mass and
mass affluent
 Global scale providing cost effective and speedy re-use of systems, products and
business capability
 Strong AXA and Bharti brands which can be leveraged to attract and retain a high
quality management team.
SWOT ANALYSIS:

Strength:

 Bharti AXA Life Insurance Company India’s Most Respected Company in the
insurance industry of India.

 Excellent services.

 Customized of product as per customer needs.

 Brand image.
 Business experience.

 Strong financial base.

 Innovative product technology, organization culture and environment.

Weakness:

 Lot of the competitions is in the market offers some product difference in the
premium and offerings.

 Target only bigger income group where other companies are trying to catch middle
lower level people.

 Higher premium as compared to the other companies.

 Client face problem to get insured due to large number of formalities.

 High target of financial advisor and for the sales development.

Opportunity:

 Huge market is literally untapped out of estimated 320 million is usable markets only
20% of the population is insured.

 In the pension field where people want good life after their retirement.

 Indian people are more emotional towards their children that are why children plan
are selling like hot cakes.

 Health insurance and pension schemes and estimated market potential of

approximately $ 10 billion.

Threats:

 Weak perception of private players in the minds of Indian people due to frequent
financial schemes.

 Large number of insurance players.

 Current government policies do not encourage gross domestic savings.

 Of the tax liabilities of the service rises the customers will have little money to invest.

 And change rules day by day more rigid which is very difficult for the company.
PROMOTERS:

Bharti Enterprises:
Bharti Enterprises is one of India’s leading business groups with interests in telecom, agro
business, insurance and retail. Bharti has been a pioneering force in the telecom sector with
many firsts and innovations to its credit. Bharti Airtel Limited, a group company, is one of
India’s leading private sector providers of telecommunications services with an aggregate of
60 million customers, spanning mobile, fixed line, broadband and enterprise services. Bharti
Airtel was ranked amongst the best performing companies in the world in the Business Week
IT 100 list 2007. Bharti Teletech is the country’s largest manufacturer and exporter of
telephone terminals. Bharti has a joint venture with ‘Field Fresh Foods Pvt. Ltd’ - for global
distribution of fresh fruits and vegetables. Bharti also has a joint venture - ‘Bharti AXA Life
Insurance Company Ltd.’ - with AXA, world leader in financial protection and wealth
management. Bharti has recently forayed into the retail business under a company called
Bharti Retail Pvt. Ltd. It also has a joint venture – ‘Bharti Wal-Mart Private Limited’ – with
Wal-Mart, for wholesale cash-and-carry and back-end supply chain management operations.

AXA Group:
 AXA Group is a worldwide leader in Financial Protection. AXA's operations are diverse
geographically, with major operations in Western Europe, North America and the
Asia/Pacific area. AXA had Euro 1,315 billion in assets under management as of
December 31, 2006. For full year 2006, IFRS revenues amounted to Euro 79 billion,
IFRS underlying earnings amounted to Euro 4,010 million and IFRS adjusted earnings to
Euro 5,140 million.

The AXA ordinary share is listed and trades under the symbol AXA on the Paris Stock
Exchange. The AXA American Depository Share is also listed on the NYSE under the
ticker symbol AXA.
Bharti AXA General Insurance is a joint venture between Bharti, one of India’s leading
business groups with interests in Telecom, Agri Business and Retail; and AXA, world leader
in Financial Protection and Wealth Management. Bharti Group holds 74% of equity and
AXA holds 26% of the equity.
The company was incorporate 13th July 2007 and plans to commence national operations in
August 2008. Headquartered in Bangalore, the company currently has offices in 7 cities-
Bangalore, Mumbai, Delhi, Ahmadabad, and Hyderabad, Ludhiana and Chennai- and plans to
grow to a total strength of 29 branches by the end of the first year of operations. With a vision
to become the leader and preferred company for financial protection in India, Bharti AXA
General Insurance offers its customers - individuals and businesses- a wide range of products
and services that meet their insurance needs.
The company will leverage the Bharti Group’s large customer pool and develop a strong
multi channel distribution network in both urban and rural markets.

With a customer commitment to provide Fast, Fair & Friendly service in all aspects of
business, the company offers transparency, structured customer support and trained
manpower, backed by a robust IT platform. The company’s claims philosophy is to offer
prompt and hassle free claims service that deals with the claims process with empathy.
The Management team at Bharti AXA consists of experienced leaders who are passionate
about their company’s vision and goals and are committed to the development of Bharti AXA
General Insurance as the preferred company for Financial Protection in India.
1.3: OBJECTIVE OF THE STUDY:

1. To know about the saving habits of consumers.

2. To know the awareness about Insurance Plans and their benefits.
3. To know the attitude of individuals towards risk bearing.
4. To know the objective of individuals while purchasing insurance.
5. To know the attitude of individuals towards insurance plans and preference to Bharti
AXA Life.
6. To check out the consumer’s financial position.
2: LITERATURE REVIEW:

2.1: Indian Insurance Industry History:

Life insurance came to India from England in 1818 when oriental life insurance company
started in Calcutta by Europeans. After this many insurance companies had been started in
India. But these companies were looking after only the needs of European community
established in India. Indian people were not being insured by these companies. First Indian
life insurance company came as Bombay mutual life insurance assurance. Second company
was Bharat insurance company came in 1896. After this the united India in madras, national
Indian and national insurance in Calcutta and the co-operative assurance in Lahore were
established in 1906.

To regulate Indian insurance business first insurance act came in 1912 as life insurance
company act and provident fund act. These acts consist of premium rates tables and
periodical valuations of companies. In the first two decade of 20th century many life
insurance companies were started. So the insurance act came in 1938 to governing life and
non life insurance companies and to provide strict state control. In 1956 the life insurance
business in India was nationalized. In 1956 life insurance corporation of India (LIC) was
created to spreading life insurance much more widely particularly in rural areas. In that year
LIC had 5 zonal offices, 33 divisional offices and 212 branch offices. In 1957 the business of
LIC of sum assured of 200crores, 1000crores in 1970, and 7000 cores in 1986.

The history of the Indian insurance sector dates back to 1818, when the Oriental Life
Insurance Company was formed in Kolkata. A new era began in the India insurance sector,
with the passing of the Life Insurance Act of 1912.

The Indian Insurance Companies Act was passed in 1928. This act empowered the
government of India to gather necessary information about the life insurance and non-life
insurance organizations operating in the Indian financial markets.

The Triton Insurance Company Ltd formed in 1850 and was the first of its kind in the general
insurance sector in India. Established in 1907, Indian Mercantile Insurance Limited was the
first company to handle all forms of India insurance.
 2.2: Indian Insurance: Sector Reform:

The formation of the Malhotra Committee in 1993 initiated reforms in the Indian insurance
sector. The aim of the Malhotra Committee was to assess the functionality of the Indian
insurance sector. This committee was also in charge of recommending the future path of
insurance in India.

The Malhotra Committee attempted to improve various aspects of the insurance sector,
making them more appropriate and effective for the Indian market.

The recommendations of the committee put stress on offering operational autonomy to the
insurance service providers and also suggested forming an independent regulatory body.

The Insurance Regulatory and Development Authority Act of 1999 brought about several
crucial policy changes in the insurance sector of India. It led to the formation of the Insurance
Regulatory and Development Authority (IRDA) in 2000.

The goals of the IRDA are to safeguard the interests of insurance policyholders, as well as to
initiate different policy measures to help sustain growth in the Indian insurance sector.

The Authority has notified 27 Regulations on various issues which include Registration of
Insurers, Regulation on insurance agents, Solvency Margin, Re-insurance, Obligation of
Insurers to Rural and Social sector, Investment and Accounting Procedure, Protection of
policy holders' interest etc. Applications were invited by the Authority with effect from 15th
August, 2000 for issue of the Certificate of Registration to both life and non-life insurers. The
Authority has its Head Quarter at Hyderabad. Detailed information on IRDA is available at
their web-sitewww.irdaindia.org

A. Protection of the interest of policy holders:

IRDA has the responsibility of protecting the interest of insurance policyholders. Towards
achieving this objective, the Authority has taken the following steps:

 IRDA has notified Protection of Policyholders Interest Regulations 2001 to provide for:
policy proposal documents in easily understandable language; claims procedure in both life
and non-life; setting up of grievance redressed machinery; speedy settlement of claims; and
policyholders' servicing. The Regulation also provides for payment of interest by insurers
for the delay in settlement of claim.

 The insurers are required to maintain solvency margins so that they are in a position to
meet their obligations towards policyholders with regard to payment of claims.
 It is obligatory on the part of the insurance companies to disclose clearly the benefits, terms
and conditions under the policy. The advertisements issued by the insurers should not
mislead the insuring public.
 All insurers are required to set up proper grievance redress machinery in their head office
and at their other offices.
 The Authority takes up with the insurers any complaint received from the policyholders in
connection with services provided by them under the insurance contract.

B. The first Indian Insurance Company was the Bombay Assurance Society Ltd. In 1870
other companies like:
1. Hindustan Co-operative in Kolkata.
2. National Insurance in Kolkata.
3. Bombay Life in Mumbai.
4. New India in Mumbai
5. Jupiter in Mumbai
6. Lakshmi Insurance in New-Delhi

2.3: KEY MILESTONES:

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the
life insurance business.

1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended by the Insurance Act with the objective
of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers along with provident societies were taken over by the
central government and nationalized. LIC was formed by an Act of Parliament- LIC Act
1956-with a capital contribution of Rs. 5 Crores from the Government of India.
Insurance Industry in the year 2000-2001 had 13 new entrants, namely**:
Table: 2.1

S.No. Reg. No. Date of Reg. Name of the Company

1. 101 23.10.2000 HDFC Standard Life Insurance Company
2. 103 23.10.2000 Reliance General Insurance Company Ltd.
3. 104 15.11.2000 Max New York Life Insurance Co. Ltd.
4. 105 24.11.2000 ICICI Prudential Life Insurance Company
5. 107 10.01.2001 Kotak Mahindra Old Mutual Life Insurance
6. 109 31.01.2001 Birla Sun Life Insurance Company Ltd.
7. 110 12.02.2001 Tata AIG Life Insurance Company Ltd.
8. 111 30.03.2001 SBI Life Insurance Company Limited
9. 114 02.08.2001 ING Vysya Life Insurance Co. Pvt. Ltd.
10. 116 03.08.2001 Bajaj Allianz Life Insurance Co. Ltd.
11. 117 06.08.2001 MetLife India Insurance Co. Pvt. Ltd.
12. 122 14.05.2002 Aviva Life Insurance Co. India Pvt. Ltd.
13. 127 06.02.2004 Sahara India Insurance Company Ltd.
**Source: - Insurance Industry (ICFAI publication book)
2.4: Insurance Regulatory and Development Authority (IRDA):

In 1999, the Insurance Regulatory and Development Authority (IRDA) were constituted as an
autonomous body to regulate and develop the insurance industry. The IRDA was
incorporated as a statutory body in April, 2000. The key objectives of the IRDA include
promotion of competition so as to enhance customer satisfaction through increased consumer
choice and lower premiums, while ensuring the financial security of the insurance market.
The IRDA opened up the market in August 2000 with the invitation for application for
registrations. Foreign companies were allowed ownership of up to 26%. The Authority has
the power to frame regulations under Section 114A of the Insurance Act, 1938 and has from
2000 onwards framed various regulations ranging from registration of companies for carrying
on insurance business to protection of policyholders’ interests.

Role of IRDA:
 Protecting the interests of policyholders.

 Establishing guidelines for the operations of insurers, and brokers.

 Specifying the code of conduct, qualifications, and training for insurance

intermediaries and agents.

 Promoting efficiency in the conduct of insurance business.

 Regulating the investment of funds by insurance companies.

 Specifying the percentage of business to be written by insurers in rural sectors.

 Handling disputes between insurers and insurance intermediaries.

A: Changing perception of Indian customers:
Indian Insurance consumers are like Indian Voters, they are soft but when time is right and
ripe, they demand and seek necessary changes. De-tariff of many Insurance Products are the
reflection of changing aspirations and growing demand of Indian consumers.

For historical years, Indian consumers were at receiving end. Insurance Product was
underwritten and was practically forced onto consumers on a “Take-it-As-it-basis”. All that
got changed with passage of IRDA act in 1999. New insurance companies have come into
existence leading to open competition and hence better products for customers.

Indian customers have become very sensitive to Coverage/Premium as well as the Products
(read Risk Solution), that is given to them. There are not ready to accept any product, no
matter even if that is coming from the market leader, should that product is not serving the
purpose. A case in point is ULIP Product/Group Life and Credit Life in Life Insurance
segment and Travel/Family Floater Health and Liability Insurance in the Non-life segment
are new age Avatar. The new products are constantly being demanded by Indian consumers,
which is putting huge pressures on Insurance companies (Read Risk Under-writers) and
Brokers to respond.

Customers are looking at Insurance for covering Pure Risk now which I have covered in my
next section. Another good reason why we are seeing quick changes in the buying behavior
of Insurance from mere Investment to risk mitigation is the cost of Replacement of Goods
(ROG) or Cost of Services (COS).

Now Indian customers are aware of insurance industry and insurance products provided by
companies. They have become more sensitive. They would not accept any type of insurance
product unless it fulfills their requirements and needs. In historic day’s customers looking at
insurance products as a life cover which can provide security against any unacceptable
events, but now customers look at insurance products as an investment as well as life cover.
So today’s customers wants good return from the insurance companies. The Indian
customer’s forms the pivot of each company’s strategy.
B: Investment of Indian Household Savings**
(As a % in different sector)
Table: 2.2

BANK DEPOSITS 39%

CORP. BANKS 2%

SHARES AND DEBENTURES 1%

MUTUAL FUNDS 2%

NBFC’S 3%

GOVT. BONDS 13%

INSURANCE 13%

PF/ RETIREMENT FUNDS 21%

CURRENCY 6%

**Source: - Insurance Industry (ICFAI publication book)

C: Changing Face of Indian Insurance Industry:

After the Insurance Regulatory and Development Authority Act have been passed there has
been establishment of many private insurance companies in India. Previously there was a
monopoly business for Life Insurance Corporation of India (L.I.C.) who was the only life-
insurance company for the people till 2000. L.I.C. still holds 71.4% of the market share in
2006. But after the introduction of private life insurance companies there is a great
competition in Indian market now. Everyone is trying to capture the fresh market here and
penetrate it with aggressive marketing strategies. Today life-insurance is not only limited up
to just life risk cover and maturity period bonuses but changed to greater return from the
investments. With the introduction of the unit linked insurance policies these companies are
investing the money in different investment instruments like shares, bonds, debentures,
government and other securities. People are demanding for higher returns with the life risk
cover and private companies are giving 30-40% average growth per annum. These life-
insurance companies have every kind of policies suiting every need right from financial
needs of, marriage, giving birth and rearing up a child, his education, meeting daily financial
needs of life, pension solutions after retirement. These companies have every aspects and
needs of our life covered along with the death-benefit.

In India only 25% of the population has life insurance. So Indian life-insurance market is the
target market of all the companies who either want to extend or diversify their business. To
tap the Indian market there has been tie-ups between the major Indian companies with other
International insurance companies to start up their business. The government of India has set
up rules that no foreign insurance company can set up their business individually here and
they have to tie up with an Indian company and this foreign insurance company can have an
investment of only 24% of the total start-up investment.

Indian insurance industry can be featured by:

 Low market penetration.

 Ever growing middle class component in population.

 Growth of customer’s interest with an increasing demand for better insurance

products.
  Application of information technology for business.

 Rebate from government in the form of tax incentives to be insured.

Today, the Indian life insurance industry has a dozen private players, each of which are
making strides in raising awareness levels, introducing innovative products and increasing the
penetration of life insurance in the vastly underinsured country. Several of private insurers
have introduced attractive products to meet the needs of their target customers and in line
with their business objectives. The success of their effort is that they have captured over 28%
of premium income in five years.

The biggest beneficiary of the competition among life insurers has been the customer. A wide
range of products, customer focused service and professional advice has become the mainstay
of the industry, and the Indian customer’s forms the pivot of each company’s strategy.
Penetration of life insurance is beginning to cut across socio-economic classes and attract
people who have never purchased insurance before.

Life insurance is also now being regarded as a versatile financial planning tool. Apart from
the traditional term and saving insurance policies, industry has seen the entry and growth of
unit linked products. This provides market linked returns and is among the most flexible
policies available today for investment. Now products are priced, flexible, and realistic and
sustain so people in better position to understand the risk and benefits of the product and they
are accepting these innovative products.

So it is clear that the face of life insurance in India is changing, but with the changes come a
host of challenges and it is only the credible players with a long term vision and a robust
business strategy that will survive. Whatever the developments, the future and the
opportunities in this industry will surely be exciting.

There are 12 private players in Indian life insurance market.

6 bank owned insurers - HDFC standard life, ICICI prudential, ING Vysya, MetLife, OM
Kotak, SBI life

6 independent insurers - Aviva, ANP sanmar, Birla sun life, Bajaj Allianz, Max New York
life, Tata-AIG, Bharti-AXA
Major international insurers are- Prudential and Standard life from UK, Sun life of Canada,
AIG, MetLife and New York life of the US.

D: Increasing growth since liberalization*:

Table: 2.3

YEAR LIC (in bn Rs.) PRIVATE PLAYER

FY03 110 10

FY04 120 20

FY05 130 40

FY06 140 60

FY07 240 160

*Source: - Insurance Industry (ICFAI publication book)

3. RESEARCH METHODOLOGY:

3.1 The Marketing Research Process:

A Research Design is the framework or plan for a study which is used as a guide in collecting
and analyzing the data collected. It is the blue print that is followed in completing the study.
The basic objective of research cannot be attained without a proper research design. It
specifies the methods and procedures for acquiring the information needed to conduct the
research effectively. It is the overall operational pattern of the project that stipulates what
information needs to be collected, from which sources and by what methods.
As MARKETING research is a systemic and formalized process, it follows a certain
sequence of research action. The marketing process has the following steps:
 Formulating the problems

 Exploration of the situation

 Developing objectives of the research

 Designing an effective research plan

 Data collection techniques

 Analysis f the collected data

 Evaluating the data and preparing a research report

Primary Research:-

Primary data are the data that are collected to solve a problem or take advantage of any
opportunities on which a decision is depending. These data are basically observed and
recorded by the researcher for the first time.

Research Design:-

For this study a survey research was adopted with the help of primary data. For getting
primary data the research tool was a structured questionnaire.

Sample Size: -

The sample for the purpose of study was the 50 customers.

Sample Design: -

A sample design not only seeks to determine the size of sample and also the sampling unit.
The sample for the purpose of study was the customer.

Sample Techniques: -

The techniques adopted of selection of sampling of sample for study was simple random
sampling method.

Questionnaire Design: -

The author had a set of ideas and expected result based on those ideas from the questionnaire.
For this reason questions were:

 Related to the field of study.

 Related to the research hypothesis.
 Questions must bear significance to concerned area of research.
 Questions must seek information unattainable from other sources.
 The must be short as possible but comprehensive enough to allow the author to derive
his requirement of his research.
 Questions were well laid out.
3.2: Data Collection:

After the research methodology, research problem in MARKETING has been identified and
selected; the next step is to gather the requisite data. There are two types of data collection
method – primary data and secondary data.

 Primary data collection method for observing working of company and approaching
various persons of the MARKETING Department and asking them questions and
notes written down while observing and assisting MARKETING persons in their
work.

 Secondary data collection method was used by referring to company records, files,
and journals, broachers various websites, books, magazines, journals and daily
newspapers for collecting information regarding project under study.
A: Bharti-AXA Business build-up in 3 years (INR Crs.)*:

350
Bharti-AXA
300
250 SBI Life
200 HDFC Standard
150 ICICI Prudential
100
Max New York
50
0 Met Life

Year 1 Year 2 Year 3 Bajaj Allianz

*Source: As per comparison done on the basis of figures published in IRDA journals

B: Bharti-AXA branch build-up in 3 years*:

250
Bharti-AXA
200 SBI Life
150 HDFC Standard

100 ICICI Prudential

Max New York
50
Met Life
0 Bajaj Allianz
Year 1 Year 2 Year 3

*Source: As per comparison done on the basis of figures published in IRDA journals.
3.3: Limitation of the Study:
However I tried my best to have desired information from he information from the
respondents and to make the report fruitful but some limitations are bound to incur which
may affect the results or findings.

1. No Secondary Data:

As the subject of my project viz. consumer’s aptitude towards unit-linked product was new so
I was unable to have secondary data for the purpose of my study.

2. Small sample size:

As sample size taken by me for purpose of survey was 50 respondents. So the result may
have some deviations from the facts because of small sample size.

3. Limited area and time:

The study although carried out with the fullest possible effort and devotion, the limitation of
time, resources available may lead to an element chance of some error.
4: DATA ANALYSIS:

No. of respondents which are aware of life Insurance

Do you know about Life Insurance Policy?

Valid Frequency Percent Valid Percent Cumulative

Percent
Yes 48 96.0 96.0 96
No 2 4.0 4.0 100
Total 50 100.0 100.0

Do you know about life insurance policy?

yes
no

Inference:

Above bar chart shows that 96% of Peoples know about life insurance.
 No. of respondents having the life insurance policy

Do you have any Life Insurance Policy?

Valid Frequency Percent Valid Percent Cumulative

Percent
Yes 43 86.0 86.0 86
No 7 14.0 14.0 100
Total 50 100.0 100.0

Do you have any Life Insurance Policy?

Yes
No

Inference:

Above bar chart shows that 86% of respondents having Life Insurance.
 Respondents’ preference in Investment

Where would you prefer to invest?

Valid Frequency Percent Valid Percent Cumulative

Percent
Govt. Securities 10 20.0 20.0 20
Mutual Funds 18 36.0 36.0 56
Equity Shares 14 28.0 28.0 84
Insurances 8 16.0 16.0 100
Total 50 100.0 100.0

Where would you prefer to invest?

Govt. Securities
Mutual Funds
Equity Shares
Insurances

Inference:

Above pie chart show that 20% respondent of preferred in Govt. Security, 16% Insurance, 36%
Mutual Funds and 28% in Equity Share.
 Criteria of Invest of respondent

On which criteria do you invest?

Valid Frequency Percent Valid Percent Cumulative

Percent
Expert 10 20.0 20.0 20

Advice
Friendly 17 34.0 34.0 54

Advice
Own Analysis 23 46.0 46.0 100
Total 50 100.0 100.0

On which criteria do you invest?

50

40

30
On which criteria do you invest?
20

10

0
Expert Advice Friendly Advice Own Analysis

Inference:

The majority of respondents invest their money by their own analysis i.e.46%, by friendly advice 34%
respondents invest and 20% respondents invert their money by taken expert’s advice.
 Source of Income of respondents

What is your source of income?

Valid Frequency Percent Valid Percent Cumulative

Percent
Self 13 26.0 26.0 26.0

Employed/Professional

Business 18 36.0 36.0 62.0

Salaried 19 38.0 38.0 100.0
Total 50 100.0 100.0

What is your source of income?

40
30
20
10
0 What is your source
of income?

Inference:

The majority of respondents are fall in the category of Salaried, approximately 38%, where as 36%
are having Business and 26% are self employed.
 Annual Income of respondents

To which income group you belong?

Valid Frequency Percent Valid Percent Cumulative

Percent
> 1,00,000 10 20.0 20.0 20
1,00,000 to 20 40.0 40.0 60
2, 00,000
200,000 to 15 30.0 30.0 90

500,000
500,000 & 5 10.0 10.0 100

above
Total 50 100.0 100.0

To which income group you belong?

40
35
30
25
20 To which income group you
belong?
15
10
5
0
> 1,00,000 1,00,000 to 2, 200,000 to 500,000 &
00,000 500000 above

Inference:

It shows that Annual income of majority of respondents falls in the category of 1-2lac, approximately
40%. Whereas 20% in <1 lack, 30% in 2-5 lacks, 10% in 5 lacks or above.
 Type of Plan respondents Prefer

What type of plan would you prefer?

Valid Frequency Percent Valid Percent Cumulative

Percent
Endowment 23 46.0 46.0 46
13 26.0 26.0 72

Pure Risk
Money Back 8 16.0 16.0 88
Term 6 12.0 12.0 100

Insurance
Total 50 100.0 100.0

What type of plan would you prefer?

50
45
40
35
30
25 What type of plan would you
prefer?
20
15
10
5
0
Endowment Pure Risk Money Back Term
Insurance

Inference:

Above Bar Chart shows that majority of respondents prefer Endowment 46%, 26% Money Back, 16%
Pure Risk and around 12% prefer Term Insurance Plan.
 Investment range of Respondents

How much can you invest per annum?

Valid Frequency Percent Valid Percent Cumulative

Percent
< 10,000 20 40.0 40.0 40
10,000 - 13 26.0 26.0 66

15,000
15,000 - 10 20.0 20.0 86

20,000
> 20,000 7 14.0 14.0 100
Total 50 100.0 100.0

How much can you invest per annum?

40
35
30
25
20 How much can you invest per
annum?
15
10
5
0
< 10,000 10,000 - 15,000 - > 20,000
15000 20,000

Inference:

It show that 26% of respondents invest around 1000-15000, where as 40 %< 10,000, 20% 15000-
20000, 14% invest 20000 or above.
 Respondents preferred Duration of Policy

For what duration would you like to hold the policy?

Valid Frequency Percent Valid Percent Cumulative

Percent
< 5 Years 9 18 18 18
5-10 Years 18 36 36 54
10 -20 Years 16 32 32 86
> 20 Years 7 14 14 100
Total 50 100.0 100.0

For what duration would you like to hold the policy?

40
35
30
25
For what duration would you like
20 to hold the policy?
15
10
5
0
< 5 Years 5-10 Years 10 -20 Years > 20 Years

Inference:

It shows that the 36% of respondents prefer 5-10 years policy duration, where as 18% in <5 years,
32% in 10-20 years, 14% prefer 20 Years or above duration.
 Respondents Expectation from the Insurance Company

What is your main expectation from the insurance company?

Valid Frequency Percent Valid Percent Cumulative

Percent
Security 24 48 48 48
Good Return 13 26 26 74
Service 7 14 14 88
Flexibility 6 12 12 100
Total 50 100.0 100.0

What is your main expectation from the insurance company?

50
45
40
35
30
What is your main expectation
25 from the insurance company?
20
15
10
5
0
Security Good Return Service Flexibility

Inference:

It shows that majority of respondents prefer security 48%, 26% good return, 14%service and around
12% prefer flexibility from insurance company.
 Additional Benefits respondent prefer from policy

What additional benefit do you want from the policy?

Valid Frequency Percent Valid Percent Cumulative

Percent
Accidental 13 26.0 26.0 26
Critical Illness 16 32.0 32.0 58
Start of Life 8 16.0 16.0 74
Family Income 13 26.0 26.0 100
Benefit
Total 50 100.0 100.0

What additional benefit do you want from the policy?

35

30

25

20
What additional benefit do you
15
want from the policy?
10

0
Accidental Critical Start of Life Family
Illness Income
Benefit

Inference:

It shows that majority of respondents prefer critical illness 32%, 26% accidental, 16%start of life and
around 26%prefer family income benefit.
 Respondents’ Logic behind taking an insurance plan

What is your logic behind taking an insurance plan?

Valid Frequency Percent Valid Percent Cumulative

Percent
Tax Planning 12 24.0 24.0 24
Risk Cover 15 30.0 30.0 54
Retirement 8 16.0 16.0 70
Planning
Investment 6 12.0 12.0 82
Planning
5.00 9 18.0 18.0 100
Total 50 100.0 100.0

What is your logic behind taking an insurance plan?

30

25

20

15

10 What is your logic behind taking

an insurance plan?
5

Inference:

It shows that 30% of respondent prefer risk cover, 24% prefer tax planning, 12%prefer Investment,
16%prefer retirement planning and18% prefer all of these.
 Company preference of respondents

Which company would you prefer to invest in?

Valid Frequency Percent Valid Percent Cumulative

Percent
L.I.C. 15 30.0 30.0 30
HDFC 7 14.0 14.0 44
Bajaj Allianz 10 20.0 20.0 64
ICICI Prudential 8 16.0 16.0 80
Bharti-AXA 6 12.0 12.0 92
Others 4 8.0 8.0 100
Total 50 100.0 100.0

Which company would you prefer to invest in?

30

25

20

15
Which company would you prefer
10 to invest in?
5

Inference:

It shows that majority of respondents prefers LIC about 30%, 12% Bharti AXA, 20%Bajaj Allianz ,
14% HDFC Standard life,16% ICICI Prudential and 8%prefer others.
 Satisfaction level of respondent with their L.I. Company

Are you satisfied with the services that are offered by your insurance company?

Valid Frequency Percent Valid Percent Cumulative

Percent
Yes 33 66.0 66.0 66
No 17 34.0 34.0 100
Total 50 100.0 100.0

Are you satisfied with the services that are offered by your insurance
company?

70
60
50
Are you satisfied with the services
40 that are offered by your
30 insurance company?

20
10
0
Yes No

Inference:

It shows the mostly number of people are satisfied with their life Insurance Company around 66%.
 The Factors that motivated respondents to prefer Bharti AXA

What are the factors that have motivated you to prefer Bharti AXA over the other
companies?

Valid Frequency Percent Valid Percent Cumulative

Percent
Brand Name 15 30.0 30.0 30
Goodwill of 19 38.0 38.0 68
Bharti-AXA
Service 9 18.0 18.0 86
Advertisement 7 14.0 14.0 100
Total 50 100.0 100.0

What are the factors that have motivated you to prefer Bharti AXA over
the other companies?

40
35
30
25
20
15 What are the factors that have
10 motivated you to prefer Bharti
AXA over the other companies?
5
0

Inference:

It shows that 38% of respondents prefer Bharti AXA for its good will & 30% for Brand Name, 18%
for service & 14% people prefer due to advertisement.
 Respondents which again prefer to buy Bharti AXA products

If Given a Chance do you again prefer to buy the Bharti AXA Life Insurance policy in
future?

Valid Frequency Percent Valid Percent Cumulative

Percent
Yes 35 70.0 70.0 70
No 15 30.0 30.0 100
Total 50 100.0 100.0

If Given a Chance do you again prefer to buy the Bharti AXA Life
Insurance policy in future?

70

60

50
If Given a Chance do you again
40 prefer to buy the Bharti AXA Life
Insurance policy in future?
30

20

10

0
Yes No

Inference:

It shows the mostly number of people are again going to buy Bharti AXA Life Insurance Company
products around 70%.
 Factor which most dissatisfy a respondent from Bharti AXA

What is the most dissatisfying factor do you feel about Bharti AXA?

Valid Frequency Percent Valid Percent Cumulative

Percent
After Sales 12 24.0 24.0 24
Service
Product 19 38.0 38.0 62
Diversification
Fund 10 20.0 20.0 82
Performance
Advertisement 9 18.0 18.0 100
Total 50 100.0 100.0

What is the most dissatisfying factor do you feel about Bharti AXA?

40
35
30
25
20
15 What is the most dissatisfying
10 factor do you feel about Bharti
AXA?
5
0

Inference:

It shows that 24% of respondents dissatisfied with after sales service of Bharti AXA & 38% for
product diversification, 20% for fund performance & 18% people dissatisfied due to advertisements.
 Reason behind not purchasing of a Bharti AXA Policy

What are die reason behind not purchasing/taking a Bharti AXA life insurance policy?

Valid Frequency Percent Valid Percent Cumulative

Percent
Trust 11 22.0 22.0 22
Service 19 38.0 38.0 60
Advertisement 12 24.0 24.0 84
Market 8 16.0 16.0 100
Reputation
Total 50 100.0 100.0

What are die reason behind not purchasing/taking a Bharti AXA life
insurance policy?

40
35
30
25
20
15 What are die reason behind not
purchasing/taking a Bharti AXA
10
life insurance policy?
5
0

Inference:

It shows that 22% of respondents are not purchasing Bharti AXA Policy due to trust & 38% due to
service, 24% due to Advertisement & 16% people due to advertisements.
 Ranking of service offered by Bharti AXA Life Insurance

Rank the service of Bharti AXA Life Insurance?

Valid Frequency Percent Valid Percent Cumulative

Percent
Excellent 8 16.0 16.0 16
Good 20 40.0 40.0 56
Average 13 26.0 26.0 82
Below Average 9 18.0 18.0 100
Total 50 100.0 100.0

Rank the service of Bharti AXA Life Insurance?

40

35

30

25

20 Rank the service of Bharti AXA

Life Insurance?
15

10

0
Excellent Good Average Below
Average

Inference:

It shows that 16% of respondents feels services offered by Bharti AXA are Excellent & 40% thinks
good, 26% feels Average & 18% people feels below average.
5. FINDINGS:
There are a lot of possibilities in the market for Bharti AXA Life Insurance Products due to
their unique features. To get the benefit of this opportunity the company should consider the
following points.

1. The study shows that there is less awareness for the company’s Plans in Market. So it is
necessary for company to make aware to the people for company. The company should go for
advertisements at local level.

2. Awareness of customers is very low in India even educated persons are unaware about
various products of insurance company. Company should advertise their plans on a large
scale e.g. on T.V. channel, leading newspapers etc.

3. Company should recruit new agents or consultants. It is necessary for company to trend
them in a well manner therefore they will gave good results.

4. Company should make plans for promotion of company business it should organize road
shows seminars, exhibition or contests because these things make a clear picture of
company’s plans.

5. Bharti AXA should open the branches and enhance its infrastructure so that the people of
that region can also be awarded about these plans.

6. Company should open customer service point in rural areas also.

7. Company should issue less premium plan.

6. CONCLUSION:

The objective of the project of studying the “ANALYSIS OF BHARTI-AXA RANGE OF

SERVICES” has been achieved during the course of time. Today insurance industry is a
rapidly growing sector. After coming of the private players this industry is becoming
complex day to day and their competition very fast.
After analyzing the responses of the people about main feature which influence the insurance
buying, the result shows that awareness level is increasing day by day about the private
insurance company. Till 1999 LIC have the monopoly in insurance sector. But today is the
era of private insurance companies, and the awareness level and buying behavior is
increasing day by day.

Major finding of the study show that protection is the prime preference along with saving or
tax benefits. At the same time people are more focused on their Children’s future planning In
particular Bharti AXA Life Insurance has huge brand awareness in the urban market due to
Bharti Airtel presence in the market. But at the same time company is struggling for its
market share in rural market. In brief it can be said that the people are getting confident to be
the investor of Bharti AXA Life Insurance products while they have heard about all the
benefits of these plans.
REFERENCES:

 Reference to a book:
Marketing Research An applied orientation by Malhotra Dash
Marketing Research by S.L. Gupta
Insurance Industry (ICFAI publication book)
 Reference to Websites:
- www.bharti-axalife.com
- www.avivaindia.com
- www.google.co.in
- www.irda.org.in

 Other
Bharti-AXA manuals.
Inconversation Newsletter
IRDA journals
ANNEXURE:

Questionnaire:

General Information:
1. Name:

2. Age:

3. Sex: Male [ ] Female [ ]

4. Marital Status: Single [ ] Married [ ]

5. Educational Background: High School [ ] Plus 2 [ ] Graduation [ ] Post Graduation [ ]

6. Address: ___________________________________________

Questions:
___________________________________________________________________________

1. You are? Self Employed / Professional [ ] Business owner [ ] Salaried [ ]

2. Which income group do you belong to? > 1, 00,000 [ ] 1, 00,000 to 2, 00,000 [ ]
200,000 to 500,000 [ ] 500,000 & above [ ]

3. Are you aware about the different options of investment? Yes [ ] No [ ]

4. On whose advice would you invest? Expert’s Advice [ ] Friend’s Advice [ ] Self
Analysis [ ]

5. Where would you prefer to invest? Govt. Securities [ ] Mutual Funds [ ] Equity Shares [ ]
Insurance [ ]

6. Are you aware that Life Insurance is a good option for investment, tax saving, savings as
well as financial protection? Yes [ ] No [ ]

7. Do you have any Life Insurance Policy? Yes [ ] No [ ]

8. What type of plan do you have or would you prefer? Investment [ ] tax saving [ ] savings [
] as well as financial protection [ ]

9. How much do you pay or can you invest per annum? < 10,000 [ ] 10,000 - 15,000 [ ]
15,000 - 20,000 [ ] > 20,000 [ ]

10. For what duration would you like to hold the policy? < 5 Years [ ] 5- 10 Years [ ] 10 - 20
Years [ ] > 20 Years [ ]
11. What is your main expectation from the insurance company? Security [ ] Good Return' [
] Service [ ] Flexibility [ ]

12. What additional benefit do you want from the policy? Accidental [ ] Critical Illness [ ]
Start of Life [ ] Family Income Benefit [ ]

13. What is your purpose behind taking an insurance plan? Tax Planning [ ] Risk Cover [ ]
Retirement Planning [ ] Investment Planning [ ] All of these [ ]

14. Which company would you prefer to invest in? L.I.C. [ ] HDFC [ ] Bajaj Allianz [ ]
ICICI Prudential [ ] Bharti-AXA [ ] others [ ]

15. Are you satisfied with the services that are offered by your insurance company? Yes [ ],
No [ ]

16. What are the factors that have motivated you to prefer Bharti AXA over the other
companies? Brand Name [ ] Goodwill of Bharti AXA [ ] Service [ ] Advertisement [ ]

17. If Given a Chance do you again prefer to buy the Bharti AXA Life Insurance policy in
future? Yes [ ] No [ ]

18. What is the most dissatisfying factor do you feel about Bharti AXA? After Sale Service [
] Product Diversification [ ] Fund Performance [ ] Advertisement [ ]

19. Rank the service of Bharti AXA Life Insurance? Excellent [ ] Good [ ] Average [ ]
Below Average [ ]