A PROJECT REPORT On A Study On Customer Awareness Level To Improve Market Share To Find The Potential Customer For Met Life India

A study on customer awareness level to improve market share to find the potential customer for Met Life India
Literature Review: The project report on A study on customer awareness level to improve market share to find the potential customer for Met Life India. In Hubli. Body of the Report: Primary data was collected by administration questionnaire of 100 customers. The questionnaire was specially framed to meet the requirement of the survey and the following details. Direct contact was made with the respondents through random sample to collect the needful information with reference to our objective as per to meet the survey requirement. Interview technique: Direct personal interview was conducted throughout project using direct structured and self administrative questionnaire.
Conclusion & Recommendation: Analysis was based on the result of the research conducted and the recommendations are based on the analysis. Limitation: The major limitation of the project was time frame.
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A study on customer awareness level to improve market share to find the potential customer for Met Life India STATEMENT OF THE PROBLEM
A study on customer awareness level to improve market share to find the potential customer for Met Life India.
The main core problem in the project is to know weather the people of Hubli city is fully aware of Met Life India Life Insurance Plans and policies
Purpose of the study: The study was undertaken to gather information from the respondents regarding awareness Met Life India Life Insurance Plans and policies and the purpose of the study is to know how many people are aware of Met Life India Life Insurance Plans and policies
Scope of the study: The study will help the company to know the awareness of Met Life India Life Insurance Plans and policies in Hubli city. The study will help the company to know the customer profile. The company can find out where their competitors stand.
The reason for confining the scope of the research in Hubli were . 1) One of the fast growing city in educational field in Karnataka and represents the more scope to the insurance companies. Babasabpatilfreepptmba.com Page 2
A study on customer awareness level to improve market share to find the potential customer for Met Life India 2) It is also commercial city in the Business field.
Objectives: 1. To study the awareness level of Met Life India Life Insurance Plans and policies. 2. To find factor influencing financial planning. 3. To find potential market for Met Life India Life Insurance Plans and policies 4. To find vital communication media.
RESEARCH METHODOLOGY
Data source: Area of Research:
Primary data (field survey) Hubli city.
Research instrument: Questionnaire. Sample Plan: Sample Unit: Sampling method: Sample Size: Personal Interview. Businessman, Job holders, etc. Non probability method, Random sampling method. 100 respondents.
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INSURANCE
REGULATORY
AND
DEVELOPMENT
AUTHORITY ACT 1999 (IRDA) Babasabpatilfreepptmba.com Page 4
This Act, passed in Dec 1999, provided for the establishment of the IRDA to protect the interests of policyholders, to regulate, promote & ensure orderly growth of insurance industry & for the matters connected therewith or incidental thereto. It also sought to amend the insurance Act, 1938, the L I C Act, 1956 & the general insurance Business (nationalization) Act, 1972.
The IRDA is the corporate body. It is advised insurance advisory committee consisting of not more than 25 members to represent the interests of commerce, industry, transport agriculture, consumer forums, surveyors, agents, intermediaries, organizations engaged in safety & loss prevention, research bodies & employees associations in the insurance sector. It replaces the controller of insurance to administer the provisions of the insurance Act. That includes registrations, licensing, & laying down regulations for the proper conduct of the business & the protection of the interests of policyholders.
The regulations framed by the IRDA, in so far as they affect the working of agents, are reproduced in full at the end of this course.
Introduction to insurance
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A study on customer awareness level to improve market share to find the potential customer for Met Life India The business of insurance is related to the protection of economic value of assets. Every asset has a value. The asset is valuable to the owner, because he accepts to get benefits from it. The benefit may be income or something else. Its a benefit because it meets some of his needs. In the case of factory or a cow, the product generated b is sold & income generated. In the case of a motor car it provides comfort & convenience in transportation. There is no direct income
Every asset is expected to last a certain period of time during it which it will perform. After that, the benefit may not be available. There is a life time for a machine in a factory or a cow or a motor car. None of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a substitute is made available. Thus, he makes sure that the value or income is not lost. How ever the asset may get lost earlier an accident or some other unfortunate event may destroy it or make it non-functional. In that case, the owner and those deriving benefits there from would be deprived of the benefit and the planned substitute would be not having been ready. There is an adverse or unpleasant situation. Insurance is a mechanism that helps to reduce the effect of such adverse situation.
Brief history of insurance
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A study on customer awareness level to improve market share to find the potential customer for Met Life India The business of insurance started with marine business traders, who use to gather in the Lloyds coffee house in the London agreed to share the losses to their goods while being carried by ships. The losses use to occur because of he pirates on the high seas or because of bad weather spoiling the goods or sinking the ships. The fist insurance policy was introduced in 1583 in England. In India insurance began in 1870 with life insurance being transacted by an English company, the European &the Albert .The first Indian insurance company was Bombay mutual assurance society ltd formed in 1870. This was followed by oriental life insurance company.In1874, the bharath in 1896 & the empire of India in 1897.
Later, the Hindustan cooperative was formed in Calcutta, the united India in madras, the Bombay life in Bombay, the national in Calcutta, The new India in Bombay, the Jupiter in Bombay and the lakshmi in New Delhi. These were all Indian companies, started as a result of the swadeshi movement in the early 1900s. By the year 1956, when the life insurance business was nationalized and the life insurance corporation of India (LIC) was formed on 1st Sep 1956, there were 170 companies and 75 provident funds societies transacting life insurance business in India. After the amendments to the relevant laws in 1999, the LIC did not have the exclusive privilege of doing life insurance business in India. By 31.03.2002, 11 new insurers had been registered & had been to transact life insurance business in India.
INSURANCE IN INDIA
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The insurance sector in India has come a full circle from being an open competitive market to nationalization and back to a liberalized market again. Tracing the developments in the Indian insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries.
A brief history of the Insurance sector
The business of life insurance in India in its existing form started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the life insurance business in India are: 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 to by the Insurance Act with the objective of protecting the interests of the insuring public.
1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore from the Government of India. The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Babasabpatilfreepptmba.com Page 8
A study on customer awareness level to improve market share to find the potential customer for Met Life India Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general insurance business in India are: 1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. 1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC incorporated as a company.
Insurance sector reforms Babasabpatilfreepptmba.com Page 9
In 1993, Malhotra Committee headed by former Finance Secretary and RBI Governor R.N. Malhotra, was formed to evaluate the Indian insurance industry and recommend its future direction. The Malhotra committee was set up with the objective of complementing the reforms initiated in the financial sector. The reforms were aimed at creating a more efficient and competitive financial system suitable for the requirements of the economy keeping in mind the structural changes currently underway and recognizing that insurance is an important part of the overall financial system where it was necessary to address the need for similar reforms In 1994, the committee submitted the report and some of the key recommendations included:
i)
Structure
Government stake in the insurance Companies to be brought down to 50% Government should take over the holdings of GIC and its subsidiaries so that subsidiaries can act as independent corporations All the insurance companies should be given greater freedom to operate these
ii)
Competition Page 10
Private Companies with a minimum paid up capital of Rs.1bn should be allowed to enter the industry No Company should deal in both Life and General Insurance through a single entity Foreign companies may be allowed to enter the industry in collaboration with domestic companies Postal Life Insurance should be allowed to operate in the rural market Only one State Level Life Insurance Company should be allowed to operate in each state iii) Regulatory Body the
The Insurance Act should be changed An Insurance Regulatory body should be set up Controller of Insurance (Currently a part from the Finance Ministry) should be made independent
iv)
Investments
Mandatory Investments of LIC Life Fund in government securities to be reduced from 75% to 50% GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings to be brought down to this level over a period of time)
v)
Customer Service
LIC should pay interest on delays in payments beyond 30 days Babasabpatilfreepptmba.com Page 11
A study on customer awareness level to improve market share to find the potential customer for Met Life India Insurance companies must be encouraged to set up unit linked pension plans Computerization of operations and updating of technology to be carried out in the insurance industry The committee emphasized that in order to improve the customer services and increase the coverage of the insurance industry should be opened up to competition. But at the same time, the committee felt the need to exercise caution as any failure on the part of new players could ruin the public confidence in the industry. Hence, it was decided to allow competition in a limited way by stipulating the minimum capital requirement of Rs.100 crores. The committee felt the need to provide greater autonomy to insurance companies in order to improve their performance and enable them to act as independent companies with economic motives. For this purpose, it had proposed setting up an independent regulatory body.
IMPORTANCE OF INSURANCE Why I need Insurance Babasabpatilfreepptmba.com Page 12
A study on customer awareness level to improve market share to find the potential customer for Met Life India Life Insurance is a contract by which you can protect yourself against specific losses by paying a premium over a period of time. Since each one of us, during our lives are faced with numerous risks failing health, financial losses, accidents and even fatalities, our instinct drives us to cover ourselves against those risks. Though an insurance cover cant protect you against the emotional losses arising out of these risks, it softens the economic crisis that usually accompanies these losses. Life Insurance gains much more value if you are a nuclear family. Unlike in the traditional joint family system, in a nuclear family, support from the extended family cannot be counted upon. So it is vital that you have an insurance cover as the protective shield against unfortunate losses. And its not only your life you could insure against those risks. With the Insurance Industry going through positive changes in the last few decades, now, you have a variety of risk coverage options. For instance, products in the market range from whole life insurance to covering risks associated with home loans. Whats more, now you could choose life insurance as an investment option, the returns of which you can enjoy at the most critical phases of your life for instance, at the time of your childs admission into one of those dream institutes. And the insurance industry is constantly evolving. So, you now have a wider option of insurers presenting you with products that not only cover those risks, but also act as wealth accumulation or investment avenues, which, you should definitely avail of.
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A study on customer awareness level to improve market share to find the potential customer for Met Life India Whether you are new to insurance, or an informed customer, you could always get valuable information from us. We have attempted to cover this site with some comprehensive information on life insurance. However, do not hesitate to leave a note for our Financial Advisors. Not only they could provide you with the additional information you might be looking for, they can also help you assess your life insurance needs and invest wisely. Purpose & need of insurance
Assets are insured, because they are likely to be destroyed, through accidental occurrences. Such possible occurrences are called perils. Fire, floods, breakdowns, lightning, earthquakes, etc are perils. If such perils can cause damage to the asset, we say that the asset is exposed to that risk. Perils are the events. The risk to a owner of building, because of the peril of an earthquake, may be a few lacs or a few crores of rupees, depending on the cost of the building & the contents in it.
The risk only means that there is a possibility of loss or damage. The damage may or may not happen. Insurance is done against the contingency that it may happen. There has to be an uncertainty about the risk. Insurance is relevant only if there are uncertainties. If there is no uncertainty about the occurrence of an event, it cannot be insured against. In the case of human being death is certain, but the time of death is uncertain. In the case of a person who is terminally ill, the time of death is uncertain, thought not exactly known. He cannot be insured.
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A study on customer awareness level to improve market share to find the potential customer for Met Life India Insurance does not protect the asset. It does not prevent its loss due to the peril. The peril cannot be avoided through Insurance. The peril can sometimes be avoided, through better safety & damage control management. Insurance only tries to reduce the impact of the risk on the owner of the asset & those who depend on that asset. It only compensates the losses-and that too, not fully. Only economic consequences can be insured. If the loss is not financial, Insurance may not be possible. Examples of non-economic losses are love & affection of parents, leadership of managers, and sentimental attachment to family heirlooms, innovative & creative abilities How insurance works The mechanism of insurance is very simple. People who are exposed to the same risks come together & agree that, if any of them suffers loss, the others will share the loss & make good to the person who lost. All people who send goods by ship are exposed to same risk, which are related to water damage, ship sinking, piracy, etc.Those owning Factories are not exposed to these risks but they are exposed to different kinds of risk like fire, hailstorms, earthquake, lightning, burglary, etc, like this different kinds of risk can be identified & separate groups can be made, including exposed to those risk. By this method, the heavy loss that any of them may suffer is divided into a small bearable loss by all.
There are certain principles, which make it possible for insurance to remain a fair arrangement. The first is that it is difficult for any one individual to bear the consequences of the risk he is exposed to. It will become bearable when the community shares the Babasabpatilfreepptmba.com Page 15
A study on customer awareness level to improve market share to find the potential customer for Met Life India burden. The second is that the peril should be in an accident manner. Nobody should be in a position to make the risk happen. In other words, none in the group should set fire to his assets & ask others to share the costs of damage. This would be taking unfair advantage of an arrangement put in to place to protect people from the risk they are exposed to. The occurrence has to be random, accidental, & not the deliberate creation of the insured person. The manner in which the loss is to be shared can be determined before hand. It may be proportional to the risk the each person is exposed to. This would be indicative of the benefit he would receive if the peril befell him. The share could be collected from the members after the loss has occurred or the likely shares may be collected in advance, at the time of admission to the group. Insurance companies collect in advance & create a fund from which the losses are paid. The collection to be made from each person in advance is determined on assumptions. While it may not be possible to tell beforehand, which person will suffer, it may possible to tell, on the basis of past experience, how many persons, on an average, may suffer losses.
THE BUSINESS OF INSURANCE Insurance companies are called insurers. The business of insurance is to A. Bring together persons with common insurance interest. Babasabpatilfreepptmba.com Page 16
A study on customer awareness level to improve market share to find the potential customer for Met Life India B. Collect the share (premium) from all of them. C. Pay out compensations (claims) to those who suffer. The premium is determined on the same lines as indicated in the above examples above, but with some further refinements. In India, insurance business is classified primarily as life & non-life or general. Life insurance includes all risks related to the lives of human beings & general insurance covers the rest. Myths of Insurance There are some myths that are associated with Insurance. To choose insurance as a good investment, you need to be informed about these myths. Insurance is for saving tax The primary function of life insurance is to cover you against sudden losses arising out of sudden death or liability. Unlike other investment options like the Public Provident Fund that offers 20% tax rebate under Section 88 of the Income Tax Act, 1961or other small savings schemes like post office deposits and national savings certificates, Insurance isnt a tax saving investment vehicle. Insurance, primarily offers you complete security arising out of risk coverage against the uncertainties of life. And secondarily serves you as a good investment option and tax saving tool. Hence, as an instrument, life insurance offers you the ideal blend of risk cover, returns and tax benefits.
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A study on customer awareness level to improve market share to find the potential customer for Met Life India Insurance does not give good returns Its true that there are other investment options that could give you more returns than life insurance. If returns are evaluated in isolation, a fixed deposit option offering you 6% interest definitely looks good in a depressed market. However, life insurance offers you other benefits, in addition to returns. For example, say, you invest Rs.5000/- in fixed deposit. You would ideally get back the money at the end of the year with marginal interest. Whereas, if you decide to pay a premium of Rs.5000/- per annum on a life insurance policy, you could buy an insurance cover of Rs.50, 000/- to Rs.2 lakhs depending on your age and type of policy. And if, the unfortunate happens during the tenure, your near and dear ones get to receive the amount for which you are insured. If not, you get back the entire sum at the end of the tenure. Insurance products are not flexible Insurance products have become more flexible with the introduction of riders that allow you to customize your plan. Riders allow you to tailor your insurance policy to suit your unique needs. They are attached to your base policy when it is purchased and are available at nominal rates. For example, there is the Critical Illness Rider, which provides for payment of an amount based on the diagnosis of a critical illness condition of the life assured. The illnesses covered include critical conditions such as heart attack, stroke, cancer, kidney failure and major organ transplant.
Flexibility is also provided through different premium payment options. By utilizing these Babasabpatilfreepptmba.com Page 18
A study on customer awareness level to improve market share to find the potential customer for Met Life India payment options, you need not get tied down to paying the premiums through out the term of the policy. With Limited payment option, you can complete your premium payments in short intervals, while enjoying the benefits of the policy for a longer term.
My money gets tied down in Insurance The withdrawal facility available with select insurance policies makes it possible for you to withdraw your accumulated money any time when you need it. There are also loan options available on most policies that enable you to utilize your returns much earlier than the completion of the term of the policy. In essence, life insurance offers you risk coverage, tax benefits and returns on investment. MetLife With over 138 years of experience, the MetLife companies serve millions of customers in the Americas and Asia with one goal in mind to build financial freedom for everyone. The MetLife companies are a leader in-group benefits that serve 88 of the top one hundred FORTUNE 500* companies, and provide benefits to 37 million employees and family members through its plans sponsors in the U.S. The MetLife companies are also ranked #1 in-group life and #1 in commercial dental in the U.S. The MetLife companies are the number one life insurer in the U.S. with approximately US $3.3trillion life insurance in of
force. In India, MetLife was incorporated in 2001,
and aims to differentiate itself through customized need based selling, simple and
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A study on customer awareness level to improve market share to find the potential customer for Met Life India innovative products, and technology-backed service experience, to tread its path to build financial freedom for everyone.
Mission / Vision / Values Our Vision and Mission Build financial freedom for all through leadership in providing financial advice and building long-term relationships through innovative protection, accumulation and retirement products, robust underwriting processes and creating world-class customer service experience for our customers. We want to provide customers in India with world-class solutions for financial security, and in the process add significant value to our shareholders, associates and society. Our Core Values
We lead through Innovation to offer world class and competitive products to our customers
We build Long Term Relationships with our customers by creating a world class service experience through operational excellence and the innovative use of technology
We create a Customer Centered and Result Focused Vision that inspires each one of our Associates and has their buy-in
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We are committed to creating a High Performance Organization by creating an environment that allows each one of our Associates to perform at their peak. As a result we will also be recognized as an Employer of Choice
We are committed to Partnering with our internal and external Customers for mutual success
We work with Integrity, Fairness and Financial Prudence in all our dealings keeping the interests of our Shareholders, Customers and Associates paramount
DIFFERENT DEPARTMENTS Revenue Generated dept Customer related dept 1) Procuring new Business 2) Scrutiny of the new proposal and deciding on the proposal. 3) Issuing policy 4) Make sure that the policy should not lapse. 5) Servicing policy holder 6) Advertising 7) Investing Mutual fund dept 8) Account dept 9) HR development dept 10) Government laws dept, returns and statements
Corporate Partners
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A study on customer awareness level to improve market share to find the potential customer for Met Life India As the vital channel for MetLifes products, we have chosen some exemplary banks and financial institutions. These will serve as the interface between our customers and we to aid us understand the unique needs and aspirations of every Indian. And update our products with features that form the cornerstones of financial freedom. Prelude: The Jammu & Kashmir Bank is today one of the fastest growing banks in India with a network of more than 500 branches/offices spread across the country offering world class banking products/services to its customers. Today, the Bank has a status of value driven organization and is always working towards building trust with Shareholders, Employees, Customers, Borrowers, Regulators and other diverse Stakeholders, for which it has adopted a strategy directed to developing a sound foundation of relationship and trust aimed at achieving excellence, which of course, comes from the womb of good Corporate Governance. Good Governance is a source of competitive advantage and a critical input for achieving excellence in all pursuits. J&K Bank considers good Corporate Governance as the sine qua non of a good banking system and has adopted a policy based on all the four pillars of good governance transparency, disclosures, accountability and value, enabling it to practice trusteeship, transparency, fairness and control, leading to stakeholders delight, enhanced shareholder value and ethical corporate citizenship. It also ensures that bank is managed by an independent and highly qualified Board following best globally accepted practices, transparent disclosures and empowerment of shareholders, besides ensuring to meet shareholders aspirations and societal expectations following the principles of management's executive freedom to drive the bank forward without undue restraints but Babasabpatilfreepptmba.com Page 22
A study on customer awareness level to improve market share to find the potential customer for Met Life India within the framework of effective accountability. The excellence achieved by the bank in its operations stemming from the roots of voluntary good Governance has not gone unrecognized and Bank has recently bagged three very prestigious awards for following fair business practices and commitment to social obligations. Financials The Bank recorded an outstanding achievement in the last fiscal (2004-05) in key areas of its operations. During the year 2004-05, the Bank achieved an all time high business turnover of Rs.33162.11 crore from Rs.27946.32 crore of the previous year registering an increase of 18.66%. The Capital & Reserves of the Bank increased by Rs.71.66 crore to Rs.1665.40 crore during the year from Rs.1593.74 crore of the previous year. The Capital Adequacy Ratio stood at 15.15%, which is comfortably much above the minimum stipulated by Reserve Bank of India. The Bank posted a net profit of Rs.115.07 crore in the last fiscal as against the previous year figure of Rs.406.33 crore .The dip in the profits is in line with overall industry trend which witnessed diminishing yields in the securities portfolio held by banks and consequential booking of losses. The Bank could not remain insulated to the said affects of inflation and hardening of interest rates, which besides impacting the yields also, depreciated the investment portfolio. In order to insulate the securities portfolio from future market risk and to reduce the duration of its investments, Bank transferred securities of Rs.2602.03 crore from AFS to HTM category and also disposed off long duration Babasabpatilfreepptmba.com Page 23
A study on customer awareness level to improve market share to find the potential customer for Met Life India securities, thereby booking depreciation /loss on investment portfolio aggregating Rs.222.47 crore. Bank's aggregate deposits recorded an appreciable accretion of 16% to Rs.21644.97 crore at the end of financial year 2004-05 from the previous year figure of Rs.18661.38 crore. The rate of growth is commendable when compared to 14.1% at national level. The credit portfolio of the Bank also recorded an appreciable growth during the year. The total advances of the Bank increased to Rs.11517.14 crore against Rs.9284.94 crore of the corresponding periods of the previous year registering a growth of 24%. The outstanding to priority sector increased by Rs.544 crore to Rs.2510 crore at the end of March 2005 from Rs.1966 crore of the previous year. The investment portfolio recorded a growth of 8% to Rs.9089.23 crore from Rs.8451.10 crore of the previous years. The net NPAs stood at 1.41%, against 1.48% of the previous year, which is one of the lowest in the industry. During the year, the Foreign Exchange business recorded an impressive growth of 29%, moving to Rs.5964.67 crore against Rs.4637 crore of the previous year. The contribution of this segment to the Bank's gross income has been to the tune of Rs.38.22 crore against Rs.34.80 crore of the previous year. The export turnover of the Bank increased from Rs.1928.86 crore to Rs.2211.51 crore registering an increase of 15%. Keeping in view overall performance of the Bank, the Bank, after the approval of shareholders, paid 80% dividend (free of tax) for the year ended 31 st March 2005.
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A study on customer awareness level to improve market share to find the potential customer for Met Life India The productivity levels continued to show sustained growth with per branch and per employee business increasing to Rs.6632.4 lakhs and Rs.482.50 lakhs respectively
Dhanalakshmi Bank Dhanalakshmi Bank charts a 79-year course commencing from its incorporation in the year 1927 by a group of enterprising entrepreneurs of Thrissur, the cultural capital of Kerala. The Bank has foreseen transition and made the right moves towards sustained development. Dhanalakshmi Bank has today attained national stature with 181 branches and 26 Extension Counters spread over the States of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat, Delhi and West Bengal. The high growth trajectory is powered by strong fundamentals. As at the end of March 2006, the Capital Adequacy Ratio of the Bank was above the mandatory requirement of 9%. The highlights of our performance during the year 2005-06 are as follows:

Operating profits increased by 53% Non-interest income increased by 83.8% Cost of deposits declined to 5.19% and yield on advances improved to 9.44% Micro credit recorded a growth of 92.2% Net NPA brought down to 2.44% Page 25

Bank posted a net profit of Rs. 9.51 crores. 85% of Banks business brought under centralized banking solution (CBS) The Bank has always been a trendsetter, constantly making pioneering moves. The
Bank has in its books top corporate clients and blue chips, both established and emerging. With a view to widening its geographical spread, the Bank plans to add a number of branches to its network during the current year. The delivery channels are being supplemented by putting up onsite as well offsite ATMs at 100 locations. The marketing mantra at Dhanalakshmi Bank is to position the Bank as a technologically advanced and customer-oriented Bank. With this end in view, the Bank has introduced Centralized Banking Solutions (CBS) on the Flexcube Platform for extending Anywhere/Anytime banking to its ever-expanding clientele through multiple delivery channels. The Bank has set-up a state-of-the-art DATA CENTRE in Bangalore, the IT capital of the country to create physical environment necessary to keep the servers operational 24 hours a day and 7 days a week. Almost 85% of our business is now on CBS platform. The Bank emphasizes on customizing services and personalizing relations. In its pursuit to become a customer-friendly bank offering vast, varied and versatile service with a personal touch, the Bank has introduced an International Debit Card under tie-up with Visa International. The Bank has already become a Principal Member of Visa International. Steps are afoot to introduce a co-branded Credit Card in association with a leading public sector bank. In another customer-friendly move, the Bank has joined CASHNET, the first
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A study on customer awareness level to improve market share to find the potential customer for Met Life India independent nation-wide shared ATM network in India. This facility has been introduced with a plethora of value-added services designed to enhance the banks commerce solutions for customers with Electronic Refill of pre-paid mobile airtime, mobile banking with account access and event messaging plus Electronic Bill Presentment and Payment for post paid bills. The Bank has also joined the National Financial Switch (ATM network) of the IDRBT, promoted by Reserve Bank of India. By joining Cash net and NFS, our customers have been provided access to more than 14,000 ATMs in the country. Tie-up with other shared ATM networks like Cash Tree is in the offing. Dhanalakshmi Bank has introduced tele banking and Internet banking. All the branches of the Bank will be covered in a phased manner. The Bank has also put in place a vibrant Cash Management System (CMS) that provides speedier cheque collection through 59 branches. Real Time Gross Settlement (RTGS) System went live at Dhanalakshmi Bank recently. The RTGS System will facilitate large value inter-bank payments and settlement in real time on-line mode on a transaction-by-transaction basis. The Bank has ventured into both life and non-life insurance. It is selling life insurance products of M/s. MetLife India, a renowned global player in this segment and non-life insurance products of M/s. IFFCO-TOKIO as their corporate agent. The Bank is also a depository participant of NSDL (National Security Depository Limited) offering Demat services through selected branches.
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A study on customer awareness level to improve market share to find the potential customer for Met Life India With a view to making available value-added services to the NRIs the Bank has set up NRI Boutiques (Relationship Centres) at 8 locations in the State of Kerala. The Bank has also plans to open specialized NRI branches with accent on quality of service and thrust on specialization at potential locations. There has been a significant surge in the number of drawing arrangements with Exchange Houses in the Middle East. The Banks Industrial Finance Branch at Kochi and Corporate Office, Trichur have been accredited with certification under ISO 9001-2000. On the socio-economic front, the Bank is maintaining the Numero Uno position under Micro Credit among all Kerala-based Private Sector Banks. This, in fact, is the fulfillment of our avowed objective to act catalytic to the economic prosperity of the country. The Bank has recognized micro finance intervention as an effective tool for poverty alleviation and has streamlined the linkage between the Bank and Self Help Groups through 100 branches. In essence, the Bank is paying focused attention on its core competence like ever expanding client-base, constantly upgraded customer service, professional management, skilled manpower, wide network of branches and excellent customer support. The Bank is managed by a professional and forward looking Board of Directors drawn from various walks of life with Mr. A.D. Navaneethan as the Chairman, Mr. P.S Prasad as the MD & CEO and Mr. V S R Murthy as Executive Director.
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Karnataka Bank The Karnataka Bank Ltd., a premier private sector bank of the country, was incorporated on February 18th, 1924 at Mangalore, a coastal town in South Kanara, a district of Karnataka state, which has attained renown as the Cradle of Indian Banking. Today it is one of the leading private sector banks in the country, known for its steady and disciplined growth and cordial customer service. The Bank has a strong national presence through a widespread network of 358 branches. The bank has 230 branches wholly/partially computerized, as of now. Plans are underway to put in place additional products to enhance customer satisfaction and to increase income stream with the help of upgraded technology. The bank has already put in place an elaborate risk monitoring and asset liability management system.
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UTI Bank was the first of the new private banks to have begun operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation Ltd. and other four PSU companies, i.e. National Insurance Company Ltd., The New India Assurance Company, The Oriental Insurance Corporation and United Insurance Company Ltd.
The Bank today is capitalized to the extent of Rs. 281.19 Crores with the public holding (other than promoters) at 72.53 %.
The Bank's Registered Office is at Ahmedabad and its Central Office is located at Mumbai. Presently the Bank has a very wide network of more than 488 branch offices and Extension Counters. The Bank has a network of over 2100 ATMs providing 24hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence.
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Promoters UTI Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crore, with UTI contributing Rs. 100 crore, LIC - Rs. 7.5 crore and GIC and its four subsidiaries contributing Rs. 1.5 crore each.
SUUTI
Shareholding
27.47%
SUUTI is the largest mutual fund in India.SUUTI presently occupies a special position in Indian capital market. With a servicing and distribution network of more than 53 branch offices, 320 Chief Representatives and about 90,000 agents, UTI provides the complete range of services to its investors.
Page 31
A study on customer awareness level to improve market share to find the potential customer for Met Life India Board of Directors The Bank has 11 members on the Board. Dr. P. J. Nayak is the Chairman and Managing Director The members of the Board are : Chairman & Managing Director Shri Surendra Singh Shri N. C. Singhal Shri A. T. Pannir Selvam Shri J. R. Varma Dr. R. H. Patil Smt. Rama Bijapurkar Shri R. B. L. Vaish Shri S. B. Mathur Shri M. V. Subbiah Shri Ramesh Ramanathan Director Director Director Director Director Director Director Director Director Director of the Bank.
Our Mission
Customer Service and Product Innovation tuned to diverse needs of individual and corporate clientele.
Continuous technology up gradation while maintaining human values. Progressive globalization and achieving international standards. Page 32
Efficiency and effectiveness built on ethical practices.
Core Values
Customer Satisfaction through

o o o
Providing quality service effectively and efficiently Smile, it enhances your face value" is a service quality stressed on Periodic Customer Service Audits
Maximization of Stakeholder value Success through Teamwork, Integrity and People
Channel Partners We have Relationship with the following partners
KARVY In 1982, a group of Hyderabad-based practising Chartered Accountants started Karvy Consultants Limited with a capital of Rs.1, 50,000 offering auditing and taxation
Page 33
A study on customer awareness level to improve market share to find the potential customer for Met Life India services initially. Later, it forayed into the Registrar and Share Transfer activities and subsequently into financial services. All along, Karvy's strong work ethic and professional background leveraged with Information Technology enabled it to deliver quality to the individual.
GEOJIT SECURITIES Mr.C.J George founded Geojit Securities in 1987 as a Proprietorship for doing Broking business in Cochin Stock Exchange. In 1994, the business was taken over by Geojit Securities Ltd, a Joint Venture between Mr.C.J George and the Kerala State Industrial Development Corporation Ltd. In the following year, the company came up with an IPO and the shares were listed in various Stock Exchanges in India in 1995.
WAY2WEALTH Way2Wealth is a premier Investment Consultancy Firm that has been launched with the aim of making investing simpler, more understandable and profitable for the investors. Way2Wealth brings a wide range of product offerings from Fixed Income Securities, Life
Page 34
A study on customer awareness level to improve market share to find the potential customer for Met Life India Insurance and Mutual Funds to Equity and Derivatives (on the National Stock Exchange) for the convenience and benefit of it customers. Way2Wealth has over 40 easily accessible Investment Outlets spread across 20 major towns and cities in the country.
MINI MUTHOOTHU
Established in 1921, Mini Muthoothu with an illustrious history of banking behind them today operates from 75 branches in Kerala and 5 in Bangalore. All business concerns of Mini Muthoothu function under the strict guidelines set by the Department of Company Law Affairs and Reserve Bank of India. They also have a certificate of compliance with the requirements regarding prudential norms from the Reserve Bank of India. Mini Muthoothu, under the able leadership of its Chairman, Mr. Roy M Mathew, offers both the resources and capabilities like any national player coupled with individualized attention to its customers Management Team Rajesh Relan Chander Chellani Babasabpatilfreepptmba.com Managing Director - Officer, Agency Sales Page 35
A study on customer awareness level to improve market share to find the potential customer for Met Life India Miro Farrugia B Ashwin K P Sarma Phanesh M S V S KR Anil Kumar Chief Financial Officer - Chief Administrative Officer Appointed Actuary - Chief Actuary -Chief Planning, Legal and
Compliance Officer and Financial Controller Sudip Mukhopadhyay Smitashree Menon Sanyog Jain Director, Employee Benefits Director, Human Resources Director, Training and Development Center of Excellence Kailash Kulkarni Vikrant Pande Gaurav Suri Radhakrishna S Neerav Kaushik Delivery Babasabpatilfreepptmba.com Page 36 Director, Agency Support Director, Third Party Distribution Director, Marketing Director, Information Technology Director, Individual Service
A study on customer awareness level to improve market share to find the potential customer for Met Life India Shiva Belavadi Claims Director, Institutional Service Delivery and
Page 37
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A study on customer awareness level to improve market share to find the potential customer for Met Life India Insurance Plans MetLife provides tailor made solutions to suit Individual needs, such that when you're looking to protect those closest to you, in terms of planning your childs education, seeking retirement solutions or are simply looking ahead for a worry free financial future, we provide you with best products and services. Life Insurance is the cornerstone of your family's financial security. It protects your financial resources against the uncertainties of life so you can protect your family's future Our Solutions What is financial freedom? Its all about living the kind of life you really want to live without worrying about the future. True financial freedom arises from identifying your financial capabilities, setting realistic goals based on your aspirations and achieving them through a comprehensive plan. Most importantly, while you set out to draw up a financial plan, you need to understand that it isnt a one-time plan. Whats good for you today might not be next year. So, the planning that goes into attaining your financial freedom should be dynamic. Product Details No one can give you all the answers when it comes to dealing with life's ups and downs. But we can certainly equip you to deal with life better. Please find below the various products offered by MetLife to suit your specific need:
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Accumulation
Whole Life Policy

Met 100- Limited Pay Whole life Non - Participating Met 100- Limited Pay Whole life Participating
Endowment Policy
MET Suvidha
Money Back Policy

Met Sukh Money Back Non Participating Met Bhavishya
Multi Purpose

Met Ultimate Met Smart Plus Met Smart Premier
Protection

Met Suraksha - TROP Met Suraksha - TA Met-Mortgage Protector SP/Limited pay(MRTA)
Retirement

MET Pension - Participating Deferred Annuity MET Advantage Plus
Add Ons

Accidental Death Benefit (ADB) Term Rider Page 40
Waiver Of Premium
Critical Illness
Contact Us Send in your enquiries and requests to: group@metlifeindia.com
you can also contact our regional Group Business teams at the following: Bangalore Regional Institutional MetLife Jewels I Bangalore Email: Phone: Fax: Mumbai Regional Institutional MetLife Peninsula Tower II; India Insurance Corporate #802; 8th Co. Pvt. Manager (West) Business Ltd. Park Floor Page 41 +91 +91 80 56921700 80 Floor; India Insurance De M 560 G Co. Pvt. Manager (South) Business Ltd. Paragon Road 001. msuresh@metlife.com Extn: 56921701
A study on customer awareness level to improve market share to find the potential customer for Met Life India Ganpatrao Lower Mumbai 400 Kadam Marg Parel 013
Email: Phone: +91 22 24903133
skaul@metlife.com Extn: 3062
Fax: +91 22 24903137
Page 42
Customer Service MetLife has something for everyone, and now you can have all the information you ever wanted, whether in terms of locating a MetLife office, changing your address, or simply wanting to know if there is a policy to protect the home loan you have just taken everything is possible without moving an inch just click your way through now. Affiliates Directory In this section, you can find the list of addresses of our affiliates across the country. The following services are currently available: Medical Provider Network Paying your Renewal Premiums Frequently Asked Questions Have a quick question regarding one of our products or services? Need some helpful advice? Just identify the product or area you're interested in, and you should find the answers you're looking for here.

Buying a Policy Procedures
Alteration in Policy Page 43

Lost Policy Payment Options Cancellation of Policy Reinstatement of Policy Lapsed Policy Claim Process
Sponsorship Sponsorships, Corporate Social Responsibility and MetLife It is indeed clear that Corporate Social Responsibility is no longer a concept fostered by idealists on the fringe, but one that has entered the mainstream. Corporate Social Responsibility is the overall relationship of any corporation with all its stakeholders.
At MetLife, we believe that every corporate must have a heightened sense of corporate social responsibility. MetLife is dedicated towards the betterment of the society we serve and hence the establishment of MetLife Foundation in the US which was started in 1976. Like its parent company, MetLife in India also strongly reinforces the importance of corporate social responsibility. Although we deem it unnecessary to create hype and publicity regarding our philanthropy, it gives us great pleasure to be associated with various charities from time to time
As a company we are strongly committed to our social responsibilities and pledge to always support causes espousing our global proposition have you met life today? For
Page 44
A study on customer awareness level to improve market share to find the potential customer for Met Life India with every mention of the phrase, we believe we should reflect on what it means to each of us and what we can do to make a difference. Financial liberation leading to life of significance Its enjoying life instead of worrying about the financial aspects that have become a part of it. Its the realization that the future is protected. Its the way to live each day the way you have wanted to. It refers to and provokes the desire to look afresh at the way we look at life, lifetime investments, life insurance and thereby MetLife.
Page 45
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1. Are you aware about Met Life India? Frequency Percent Valid Yes No Total 45 55 100 45.0 55.0 100.0 Valid Percent 45.0 55.0 100.0 Cumulative Percent 45.0 100.0
60 55 50 45 40
30
20
10
Percent
0 Y es No
Interpretation
As from the above graph it is clear that in 100 respondents only 45% are aware & reaming 55% of unaware..
Page 47
2. If yes how do you come to know? Frequency Percent Valid Friends TV NEWS Paper Pamphlet Total System 11 5 4 25 45 55 100 11.0 5.0 4.0 25.0 45.0 55.0 100.0 Valid Percent 24.4 11.1 8.9 55.6 100.0 Cumulative Percent 24.4 35.6 44.4 100.0
Missing Total
60 56 50
40
30
24 20
10
Percent
11
0 Friends TV NEWS Paper Pamphlet
Interpretation
The above graph shows that the number of respondents are come to know about this Met Life India. 24% of respondents are come to know from their friends. Page 48
A study on customer awareness level to improve market share to find the potential customer for Met Life India 11% of respondents are come to know from Television. 9% of respondents are come to know from local NEWS Papers. 56% of respondents are come to know from Pamphlets.
3. Do you want to know more about Met Life India? Frequency Percent Valid Yes No Total 85 15 100 85.0 15.0 100.0 Valid Percent 85.0 15.0 100.0 Cumulative Percent 85.0 100.0
100
80
85
60
40
20
Percent
15 0 Yes No
Interpretation
The above graph shows that the number of respondents wants to know more about Met Life India
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A study on customer awareness level to improve market share to find the potential customer for Met Life India 85% of respondents are wants to know more about Met Life India 15% of respondents dont want to know.
4. Do you want to invest your money in the following plans?

Frequency Percent Valid Endowme 11 nt Whole life 20 policy Retirement 56 5 4 Total 91 System 9 100 11.0 20.0 56.0 4.0 91.0 9.0 100.0 Valid Percent 12.1 22.0 61.5 4.4 100.0 Cumulative Percent 12.1 34.1 95.6 100.0
Missing Total
70
60
62
50
40
30
20
22
Percent
10
12 4 Endowment Whole lif e policy Retirement 5
Interpretation
Babasabpatilfreepptmba.com Page 50
A study on customer awareness level to improve market share to find the potential customer for Met Life India The above graph shows that the numbers of respondents are interested to invest their money in Met Life India 12% of respondents are interested to invest their money in Endowment 22% in whole life policy 62% in Retirement 5. Have you invested money in life insurance?
Frequency Percent Valid Yes No 3 Total System 65 31 3 99 1 100 65.0 31.0 3.0 99.0 1.0 100.0 Valid Percent 65.7 31.3 3.0 100.0 Cumulative Percent 65.7 97.0 100.0
Missing Total
70
66 60
50
40
30
31
20
Percent
10 3 Yes No 3
Interpretation
The above graph shows that the numbers of respondents are invested their money in the Life Insurance 66% of respondents are invested their money
6. In which company you have invested your money?

Frequency Percent Valid LIC 30 Bajaj 27 Allianz Met Life 4 India ICICI 10 Total 71 System 29 100
50
30.0 27.0 4.0 10.0 71.0 29.0 100.0
Valid Percent 42.3 38.0 5.6 14.1 100.0
Cumulative Percent 42.3 80.3 85.9 100.0
Missing Total
40
42 38
30
20
14 10
Percent
6 0 LIC Bajaj A l ianz Met Life India ICICI
Interpretation
A study on customer awareness level to improve market share to find the potential customer for Met Life India The above graph shows that the numbers of respondents are invested their money in the following companies. 42% of respondents are invested their money in the LIC. 38% of respondents are invested their money in the Bajaj Alianz. 6% of respondents are invested their money in the Met Life. 14% of respondents are invested their money in the ICICI.
7. Which plan you have taken?

Frequency Percent Valid Endowme 15 nt Whole life 24 policy Retirement 31 5 2 Total 72 System 28 100 15.0 24.0 31.0 2.0 72.0 28.0 100.0 Valid Percent 20.8 33.3 43.1 2.8 100.0 Cumulative Percent 20.8 54.2 97.2 100.0
Missing Total
50
40
43
30
33
20
21
10
Percent
0 Endowment Whole lif e policy Retirement
3 5
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Interpretation
Above graph shows that the numbers of respondents have invested their money in the following plans & policies. 21% of respondents have invested their money in the Endowment Plans. 33% of respondents have invested their money in the Whole life policy. 43% of respondents have invested their money in the Retirement.
8. What is the premium you are paying per annum?

Frequency Percent Valid 10000 1000025000 50000100000 Total System 31 18 3 52 48 100 31.0 18.0 3.0 52.0 48.0 100.0 Valid Percent 59.6 34.6 5.8 100.0 Cumulative Percent 59.6 94.2 100.0
Missing Total
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70
60
60
50
40 35
30
20
Percent
10 6 10000 10000-25000 50000-100000
Interpretation
The above graph shows that the numbers of respondents are paying the following premium per annum. The 60% of respondent paying 10000 premiums. 35% between 10000 to 25000 And remaining between 50000 to 100000
9. What will influence your Financial Planning?

Frequency Percent Valid Discussion 27 with Family Member Tax 12 Consultant / C. A Insurance 12 consultant /Agents 27.0 Valid Percent 51.9 Cumulative Percent 51.9
12.0 12.0
23.1 23.1
75.0 98.1
Page 55
Web site 1 of insurance or Finance company Total 52 System 48 100 1.0 1.9 100.0
Missing Total
52.0 48.0 100.0
100.0
60
50
52
40
30
20
23
23
Percent
10
0 D iscussion with F i am I nsurance consultant W site of insuranc eb Tax C onsultant/ C A .
Interpretation
The above graph shows that influence to the people for making financial planning. 52% from discussion with family members. 23% from Tax consultant etc 10. What factor consists while making the policy?
Frequency Percent Valid Returns Safety Liquidity Total System 38 10 3 51 49 100 38.0 10.0 3.0 51.0 49.0 100.0 Valid Percent 74.5 19.6 5.9 100.0 Cumulative Percent 74.5 94.1 100.0
Missing Total
Page 56
80 75
60
40
20
20
Percent
0 Returns Saf ety
6 Liquidity
Interpretation
The above graph shows that the factor consists while making the policy. 75% of factors consist of Returns. 20% of factors consist of safety
11. In future are you interested investing money in Met Life India?
Frequency Percent Valid Missing Total Yes No Total System 51 43 94 6 100 51.0 43.0 94.0 6.0 100.0 Valid Percent 54.3 45.7 100.0 Cumulative Percent 54.3 100.0
Page 57
60
54 50 46 40
30
20
10
Percent
0 Y es No
Interpretation
The above graph shows that the numbers of respondents are interested to invest their money in Met Life India 54% of respondents are interested to invest their money in Met Life India 46% of respondents are not interested to invest their money in Met Life India
12. If no why?
Frequency Percent Valid No Interest 31 Lack of 2 Advertise ment Busy 24 schedule 31.0 2.0 24.0 Valid Percent 54.4 3.5 42.1 Cumulative Percent 54.4 57.9 100.0
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Total System 57 43 100 57.0 43.0 100.0 100.0
Missing Total
60
54 50
40
42
30
20
Percent
10
0 No Interest
4 Lack of Advertis em en Busy schedule
Interpretation
The above graph shows that the numbers of respondents are not interested to invest their money in Met Life India. The 54% they do not have interest. 4% from lack of advertisement. 42% of the respondent from busy schedule
13. Are you living in your own house?

Frequency Percent Valid Yes No 3 Total 72 23 5 100 72.0 23.0 5.0 100.0 Valid Percent 72.0 23.0 5.0 100.0 Cumulative Percent 72.0 95.0 100.0
Page 59
80
72 60
40
20
23
Percent
0 Yes No
5 3
Interpretation
The above graph shows that the numbers of respondents are living in their own house. 72% of respondents have their own house. Remaining respondents do not have their own house.
14. Are you using the following?

Frequency Percent Valid Car 51 51.0 Valid Percent 54.3 Cumulative Percent 54.3
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Co lour TV Bike Total System 3 40 94 6 100 3.0 40.0 94.0 6.0 100.0 3.2 42.6 100.0 57.4 100.0
Missing Total
60
54 50
40
43
30
20
10
Percent
0 Car
3 Co lo ur TV Bike
Interpretation
Above graph shows that the number of respondents is using the following luxuries goods. 54 % respondents are using Car. 43% respondents are using Bikes.
15. What is your Occupation? Babasabpatilfreepptmba.com Page 61
Frequency Percent Valid Job Holder 54 Businessm 25 an Profession 21 al Total 100 54.0 25.0 21.0 100.0
Valid Percent 54.0 25.0 21.0 100.0
Cumulative Percent 54.0 79.0 100.0
60
50
54
40
30 25 20 21
10
Percent
0 Job Holder Businessman Professional
Interpretation
The above graph shows that the respondents occupation. 54% of respondents are job holders. 25% of respondents are Business mans. 21% of respondents are Professionals.
Page 62
16. What is your monthly income? Frequency Percent Valid Below 5000 500010,000 10,00015,000 4 Total
50
15 34 43 8 100
15.0 34.0 43.0 8.0 100.0
Valid Percent 15.0 34.0 43.0 8.0 100.0
Cumulative Percent 15.0 49.0 92.0 100.0
40
43
34 30
20
15 10
Percent
8 0 Below 5000 5000-10,000 10,000-15,000 4
Interpretation
The above graph shows that the monthly income of the respondents. In the survey it was found that the. 15% of respondents are come under below Rs.5000 per month. 34% of respondents are coming under Rs.5000 to 10,000 per month. 43% of respondents are coming under 10,000 to 15,000 per month. Only 8% of respondents are coming under Rs.15, 000 & above. Page 63
Findings
It was found that 55% of respondents in Hubli city are unaware about the Met Life India. This indicates the advertisements which are using for creating awareness in Hubli is not effective so it is suggests the company to use more effective ad camps to create awareness. In this survey it was found that 43% of respondents have their own bikes and 54% of respondents have cars. This indicates that these financially sound and they can easily understand the importance of policies and they can invest their money in that. In this survey it was found that 43% of the respondents monthly income is in between Rs.10000 to Rs.15000 and 34% of the respondents monthly income is in between Rs.5000 to Rs.10000. such kind of respondents are wants save money or invest money which will help for their childrens in future. In Hubli city 86% of respondents wants to know more about policies of Met Life India so it is suggest that the company should give ads in local NEWS Paper and also give advertisement in local cable TV.Hubli city is aware or knows about this scheme. In this survey it was found that 62% of respondents are wanted to invest their money in Retirement plan. These respondents are potential customer for the organization.
Recommendations
A study on customer awareness level to improve market share to find the potential customer for Met Life India 1. More number of respondents has their monthly income Rs.10000 to 15000. And such kind of population wants to make policies in Met Life India Life Insurance. More number of the respondents are come to know about this scheme from Pamphlets. So it suggests that they should use other sources of advertisement like Big Eye Catching Hoardings etc. 2. Here it can recommended that the company should provide bonus for the potential financial consultant and Company almost all plans and policies have duration period of minimum 10 years for this long duration people are not interested to invest their money so the company should reduce their duration period.
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Conclusion
From the survey analysis it was found that in Hubli City more than half of respondents are unaware about Met Life India Life Insurance Plans and Policies. In this survey it was also found that more number of respondents have perception in that they are interested to invest their money in Met Life India Life Insurance In short many respondents are still not decided to in which company they have to invest their money. So they have opportunity in Hubli city and the company has an opportunity so it suggests that they catch the such customers to tap the market.
Page 66

A PROJECT REPORT On A Study On Customer Awareness Level To Improve Market Share To Find The Potential Customer For Met Life India

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A PROJECT REPORT On A Study On Customer Awareness Level To Improve Market Share To Find The Potential Customer For Met Life India

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Formats disponibles

A study on customer awareness level to improve market share to find the potential customer for Met Life India

Data source: Area of Research:

Primary data (field survey) Hubli city.

AUTHORITY ACT 1999 (IRDA) Babasabpatilfreepptmba.com Page 4

Brief history of insurance

A brief history of the Insurance sector

Insurance sector reforms Babasabpatilfreepptmba.com Page 9

IMPORTANCE OF INSURANCE Why I need Insurance Babasabpatilfreepptmba.com Page 12

force. In India, MetLife was incorporated in 2001,

Efficiency and effectiveness built on ethical practices.

Customer Satisfaction through

Maximization of Stakeholder value Success through Teamwork, Integrity and People

Channel Partners We have Relationship with the following partners

Whole Life Policy

Money Back Policy

Met Sukh Money Back Non Participating Met Bhavishya

Met Ultimate Met Smart Plus Met Smart Premier

Met Suraksha - TROP Met Suraksha - TA Met-Mortgage Protector SP/Limited pay(MRTA)

MET Pension - Participating Deferred Annuity MET Advantage Plus

Accidental Death Benefit (ADB) Term Rider Page 40

Contact Us Send in your enquiries and requests to: group@metlifeindia.com

Email: Phone: +91 22 24903133

skaul@metlife.com Extn: 3062

Fax: +91 22 24903137

Buying a Policy Procedures

Alteration in Policy Page 43

0 Friends TV NEWS Paper Pamphlet

4. Do you want to invest your money in the following plans?

12 4 Endowment Whole lif e policy Retirement 5

6. In which company you have invested your money?

30.0 27.0 4.0 10.0 71.0 29.0 100.0

Valid Percent 42.3 38.0 5.6 14.1 100.0

Cumulative Percent 42.3 80.3 85.9 100.0

6 0 LIC Bajaj A l ianz Met Life India ICICI

7. Which plan you have taken?

0 Endowment Whole lif e policy Retirement

8. What is the premium you are paying per annum?

10 6 10000 10000-25000 50000-100000

9. What will influence your Financial Planning?

52.0 48.0 100.0

0 D iscussion with F i am I nsurance consultant W site of insuranc eb Tax C onsultant/ C A .

0 Returns Saf ety

4 Lack of Advertis em en Busy schedule

13. Are you living in your own house?

14. Are you using the following?

15. What is your Occupation? Babasabpatilfreepptmba.com Page 61

Valid Percent 54.0 25.0 21.0 100.0

Cumulative Percent 54.0 79.0 100.0

0 Job Holder Businessman Professional

15.0 34.0 43.0 8.0 100.0

Valid Percent 15.0 34.0 43.0 8.0 100.0

Cumulative Percent 15.0 49.0 92.0 100.0

8 0 Below 5000 5000-10,000 10,000-15,000 4

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