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STUDY OF CUSTOMER RESPONSE TOWARDS TATA AIG MAHA LIFE GOLD AND RELIANCE CASH FLOW

Submitted To: Mr. Prabhart Pun

Submitted By: Gurwinder Sahni Roll No: 104682276229

INTRODUCTION OF THE ORGANIZATION


Reliance Life Insurance Reliance Life Insurance is an associate company of Reliance Capital Ltd., a part of Reliance Group. Reliance Capital is one of Indias leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, private equity and other activities in financial services.

INTRODUCTION OF INSURANCE
Insurance is a risk management technique primarily used to hedge against the risk of a contingent, uncertain loss that may be suffered by those individuals or entities who have an insurable interest in scarce resources, by transferring the possibility of this loss from one interested person, persons, or entity to another.

TYPES OF INSURANCE
Traditional Plans ULIP Plans Other Plans

SCOPE OF THE STUDY


The scope of study lies in finding out the perception of customer in Hoshiarpur city through response taken by 25 respondent during 45 days.

OBJECTIVES To know about customer preference of TATA AIG Mahalife Gold and Reliance Cash Flow. To know about customer perception about TATA AIG Mahalife Gold and Reliance Cash Flow. To analyze the motive of customer for purchase of TATA AIG Mahalife Gold and Reliance Cash Flow plan.

LIMITATIONS Many respondents did not reveal their contact no. and income. But despite of this I made point to go forward and complete my project. Many housewives irritated to open door because they are afraid of such people and they didnt have time to answer my question. This study is limited to city of Hoshiarpur. Time constraints.

RESEARCH METHODOLOGY
Research Methodology is a systematic way of investigation directed to the discovery of some facts by careful study of a subject, a course of critical and scientific inquiry. My project mainly deals with the present method of training given at RELIANCE INSURANCE LTD. The research is based on descriptive study. Sources of data are: 1. Primary Source 2. Secondary Source

DATA ANALYSIS AND INTERPRETATION

Q1.What is your Occupation?

Interpretation-In the given graph the serviceman percentage 48 and the businessman 20 percentage, self employee labor and any other percentage 12,8,12 more prefer but service man.

Q2.What is your monthly income?

Interpretation-From the graph it is clear that out of 25 respodents income of 4 respodents is less than 15000,income of 7respodents is between 15000 to 30000,income of 9 respodents is between 30,000-50,000,and income of 5 respodents is above 50,000.

Q3.Do you think it is essential to have a life insurance?

Interpretation-From the graph it is clear that out of 25 respondent. The 76% says it is essential to have life insurance, and 24% respondent think that it is not essential. so majority of respondent is agreeing to have life insurance.

Q4. Which sector you invest your money?

Interpretation-From the graph it is clear that out of 25 respodent,48% respondent want to invest money on gold,12% on equity,28% on insurance, and 12% on mutual funds.

Q 5.How much money you invest in Insurance?

Interpretation-From the given data it is clear that out of 25 respodents. Prefer to invest money less than 6,000,12% from 6,000-12,000 28% between 12000-25000,20% from 25,000 to 50,000 and 16% above 50,000 is 24%.

Q6. Which is the Company in which you want to invest & invested your money for life insurance?

Interpretation-From the graph it is clear that out of 25 respodents,20% respondent want to invest money in Reliance company,16% of TATA AIG,40% in LIC and 24% in other company.

Q7 Why you prefer insurance?

Interpretation-From the graph it is clear that out of 25 respondents 20% respondents choose their money on basis of return on investment 24% choose on basis of tax benefit. 40% on the basis of safety on future. and 16% on the basis of low premium.

Q8.Why Customer want to invest their money in Reliance Cash Flow?


Basis For Preference High Returns Wide Acceptanc e Flexible Less risk Tax Benifit Responde Percentag nt e 10 40%
Interpretation-From the graph it is clear that out of 25 respondents 56% respondent prefer investing their money to avail the tax benefit.

0%

0 1 14

0% 4% 56%

Q9.Would you like to take another plan with the same company In future?

Interpretation-From the graph it is clear that out of 25 respondents 72% people willing to take another plan with the same company, and 28 % people are not willing to take another plan with same company.

Q 10 Different Attitude of Customers towards Certain Statements?


If we R rank the following on the scale of 5 where 1 is SD, 2 is D, 3 is UD 4 is A, 5 is SA: SD=strongly disagree D =disagree UD=undecided A =agree SA=strongly agree

Interpretation-Majority of the respondents invest in life insurance for long term to get tax-benefit as well as to secure the future of their family and themselves. They find lifeinsurance to be the most preferable investment plan. Very few respondents viz., 2 invest in life insurance because they are risk-averse or have an idea about the volatility of the market.

Q11.Are you satisfied with the plan?

Interpretation-From the graph it is clear that out of 25 respondents ,80% respondents are satisfied with their plan, and 20% are not satisfied.

FINDINGS
People like to invest their money in those companies which are giving more benefits and profits. So RELIANCE LIFE INSURANCE has to increase the profitability level for the customers, which will force them to invest in INSURANCE rather than other companies. RELIANCE LIFE INSURANCE COMPANY can increase their reputation level. Still most of the people prefer to invest in the bank rather than insurance sector. Still most of the people were unaware of these insurance plans. Most of the people want to pay their premium through installment but most of the company demands to pay the installment by lump sum.

SUGESSTIONS
Improving the behavior of employees towards the customer centric approach for providing better service. Improving the physical appearance of the policy document. Instead of giving loose leafs, must be provide all the documents in a booklet form. Improving regular service activities like remainder of premium due, premium collection, change of address, issue of new policy documents. In addition to that appoint a person for collecting renewals in the convenient time of the policyholders.

CONCLUSION
There are many competitors of Reliance cash flow in the market. So, they should keep constant watch on their business strategy. Awareness about RELIANCE CASH FLOW among customer persists, but it should be done extensively. For this purpose, the company should publish advertisements in newspapers, hoardings and various forms of media channel. Customer-convenience and benefit should be the first priority of the company in order to increase its customer-base. Multiplying number of unsatisfied customer will only earn bad name to the company. Therefore, customer-satisfaction should be taken care of. The company should take suggestions from the general public so as to know their financial needs.

THANKS