Académique Documents
Professionnel Documents
Culture Documents
DESSERTATION
REPORT
On
COLLEGE GUIDE
Mrs. Pooja Johri
1
TABLE OF CONTENTS
Contents Page No.
Acknowledgements 5
List of Tables 6
List of Illustrations/Diagrams 7
Executive Summary 9
Chapter 1: introduction 10
Objective 15
Limitation 17
Research Mythology 19
Data Collection 22
Chapter 2: Life Insurance Industry 23
Industry profile 24
important milestones in the life insurance business 29
Insurance sector reforms 31
IRDA 32
Chapter 3: Contribution of Life Insurance Industry 36
Contribution of Life Insurance in the Economy 36
Flow of Insurance Industry in India 37
Structure of life Insurance Industry 40
Life Insurance industry 41
Aggregation of Long Term Savings 42
Spread of financial services in rural Areas 43
Long term funds for infrastructure Development of Capital 44
Markets/Economic Growth
2
Employment generation 45
Special Features 46
Growth Potential 47
Phase of transition 47
Chapter 4:Company Profile 49
Management 51
Area of Business 56
KMOM progress till date 65
KMOM-the partnership and Lineage 66
Products 69
Hierarchy of KMOM of Rudrapur branch 71
Chapter 5: Survey 72
Data interpretation , editing and coding 73
Graph analysis 73
Chapter 6: Finding and Suggestion 83
Chapter 7: Conclusion 84
3
Acknowledgement
In preparation of this report by me, I feel great pleasure because it
gives me extensive practical knowledge in my career. I get idea about Indian
Life Insurance Industry by this project.
I express my deep sense of gratitude to My Company Guide Mr. Mahendra
Verma for his valuable guidance during my project work. I also like to all
staff of Kotak Life Insurance who guide me in project work.
I am thankful to Mrs. Pooja Johri (Faculty Guide) for valuable
inspiration and guidance provided me through out the course of this project.
They have patient and critically gone the subject matter.
I would like to take opportunity to express my gratitude towards all of
them who have contributed directly or indirectly in my project work.
Abid Akhtar
4
Executive Summary
5
after the industrial era – past few centuries – yet its beginnings date
back almost 6000 years.
Life Insurance in its modern form came to India from England in
the year 1818. Oriental Life Insurance Company started by
Europeans in Calcutta was the first life insurance company on
Indian Soil. All the insurance companies established during that
period were brought up with the purpose of looking after the needs
of European community and these companies were not insuring
Indian natives. However, later with the efforts of eminent people
like Babu Muttylal Seal, the foreign life insurance companies
started insuring Indian lives. But Indian lives were being treated as
sub-standard lives and heavy extra premiums were being charged
on them. Bombay Mutual Life Assurance Society heralded the
birth of first Indian life insurance company in the year 1870, and
covered Indian lives at normal rates. Starting as Indian enterprise
with highly patriotic motives, insurance companies came into
existence to carry the message of insurance and social security
through insurance to various sectors of society. Bharat Insurance
Company (1896) was also one of such companies inspired by
nationalism. The Swadeshi movement of 1905-1907 gave rise to
more insurance companies. The United India in Madras, National
Indian and National Insurance in Calcutta and the Co-operative
Assurance at Lahore were established in 1906. In 1907, Hindustan
6
Co-operative Insurance Company took its birth in one of the rooms
of the Jorasanko, house of the great poet Rabindranath Tagore, in
Calcutta. The Indian Mercantile, General Assurance and Swadeshi
Life (later Bombay Life) were some of the companies established
during the same period. Prior to 1912 India had no legislation to
regulate insurance business. In the year 1912, the Life Insurance
Companies Act, and the Provident Fund Act were passed. The Life
Insurance Companies Act 1912 made it necessary that the
premium rate tables and periodical valuations of companies should
be certified by an actuary. But the Act discriminated between
foreign and Indian companies on many accounts, putting the Indian
companies at a disadvantage. 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.
Channel partners are those who are going to be into direct selling
of company’s products i.e. the insurance policies. They are the link
between the customers and the management or company. These
channel partners are people with different profiles. They are
selected on some grounds like their network of people, their
problem handling ability, convincing power and lot many things.
7
The main idea behind company’s Questionnaire Survey is to find
out and analyze the proper profile that can be recruited by
company as a channel partner. Company has been focusing on
some of the profile that can be very beneficial for the company.
For example Chartered Accountants, Tax Consultants, Postal
agents, Bank’s Daily Collection Agents etc. the main idea behind
targeting the above profile is strong client network which is really
very important for an insurance company.
8
This report includes the key private players in the insurance market
such as ICICI Prudential, Kotak Life Insurance Bajaj Allianz, Birla
Sun life, and TATA AIG. It also includes the leading competitors
in the life insurance and general insurance segments along with
their market shares.
9
Chapter 1
Objective
Limitation
Methodology
Data collection
10
1. Objective:
The main of the present study of is accomplish the following
objective.
Proper understanding and analysis of life insurance
industry.
To know about brand awareness of Kotak Life
Insurance and customer’s preference about Kotak Life
Insurance.
Conduct market survey on a sample selected from the
entire population and derived opinion on that research.
According the market survey come know about how
much potential of insurance market in our city.
And base on analysis of the result thus obtained make a
report on that research.
Training aims at recruiting maximum number of Life
Advisors and to Sell the maximum policies for the
company and bring the business for the company which
ever is going at the particular point of time.
Along with it I will be gaining the thorough knowledge
of insurance sector. This will give me in more
confidence in marketing products given to me.
11
As the Kotak Life Insurance well reputed company in
India it’s great chance for me to observed different
products launch by other competitor companies like
ICICI prudential, Bajaj alliance ,LIC, Max New York
life etc. In all, it is to understand the overall working of
the Life insurance sector.
The objective behind the project is as follows:
To find the right candidate.
To about their family background, occupation, social
relation, Qualification, Age.
Finalize candidates for the IRDA training
12
5: Limitation:
13
modern Unit Linked Insurance Plans gives returns which are
many times more than that of bank Fixed deposits, National
saving certificate, Post office deposits and Public provident fund.
14
RESEARCH METODOLOGY
15
potentiality of life insurance in Surat: How much potential is there
in Surat?
16
in my project and also make questionnaire for creating database of
business class people is Surat city for company.
17
DATA COLLECTION
18
Chapter: 2
Industry profile:
19
Brief History of the Insurance Sector in
India
20
Indian natives. However, later with the efforts of eminent people
like Babu Muttylal Seal, the foreign life insurance companies
started insuring Indian lives. But Indian lives were being treated as
sub-standard lives and heavy extra premiums were being charged
on them. Bombay Mutual Life Assurance Society heralded the
birth of first Indian life insurance company in the year 1870, and
covered Indian lives at normal rates. Starting as Indian enterprise
with highly patriotic motives, insurance companies came into
existence to carry the message of insurance and social security
through insurance to various sectors of society. Bharat Insurance
Company (1896) was also one of such companies inspired by
nationalism. The Swadeshi movement of 1905-1907 gave rise to
more insurance companies. The United India in Madras, National
Indian and National Insurance in Calcutta and the Co-operative
Assurance at Lahore were established in 1906. In 1907, Hindustan
Co-operative Insurance Company took its birth in one of the rooms
of the Jorasanko, house of the great poet Rabindranath Tagore, in
Calcutta. The Indian Mercantile, General Assurance and Swadeshi
Life (later Bombay Life) were some of the companies established
during the same period. Prior to 1912 India had no legislation to
regulate insurance business. In the year 1912, the Life Insurance
Companies Act, and the Provident Fund Act were passed. The Life
Insurance Companies Act 1912 made it necessary that the
21
premium rate tables and periodical valuations of companies should
be certified by an actuary. But the Act discriminated between
foreign and Indian companies on many accounts, putting the Indian
companies at a disadvantage. The first two decades of the
twentieth century saw lot of growth in insurance business. From 44
companies with total business-in-force as Rs.22.44 crore, it rose to
176 companies with total business-in-force as Rs.298 crore in
1938. During the mushrooming of insurance companies many
financially unsound concerns were also floated which failed
miserably. The Insurance Act 1938 was the first legislation
governing not only life insurance but also non-life insurance to
provide strict state control over insurance business. The demand
for nationalization of life insurance industry was made repeatedly
in the past but it gathered momentum in 1944 when a bill to amend
the Life Insurance Act 1938 was introduced in the Legislative
Assembly. However, it was much later on the 19th of January 1956
that life insurance in India was nationalized. About 154 Indian
insurance companies, 16 non-Indian companies and 75 provident
were operating in India at the time of nationalization.
Nationalization was accomplished in two stages; initially the
management of the companies was taken over by means of an
Ordinance, and later, the ownership too by means of a
comprehensive bill. The Parliament of India passed the Life
22
Insurance Corporation Act on the 19th of June 1956, and the Life
Insurance Corporation of India was created on 1st September,
1956, with the objective of spreading life insurance much more
widely and in particular to the rural areas with a view to reach all
insurable persons in the country, providing them adequate financial
cover at a reasonable cost.
LIC had 5 zonal offices, 33 divisional offices and 212 branch
offices, apart from its corporate office in the year 1956. Since life
insurance contracts are long-term contracts and during the currency
of the policy it requires a variety of services need was felt in the
later years to expand the operations and place a branch office at
each district headquarter. Re-organization of LIC took place and
large numbers of new branch offices were opened. As a result of
re-organization servicing functions were transferred to the
branches, and branches were made accounting units. It worked
wonders with the performance of the corporation. It may be seen
that from about 200.00 Crores of New Business in 1957 the
corporation crossed 1000.00 Crores only in the year 1969-70, and
it took another 10 years for LIC to cross 2000.00 crore mark of
new business. But with re-organization happening in the early
eighties, by 1985-86 LIC had already crossed 7000.00 crore Sum
Assured on new policies.
23
Today LIC functions with 2048 fully computerized branch offices,
100 divisional offices, 7 zonal offices and the corporate office.
LIC’s Wide Area Network covers 100 divisional offices and
connects all the branches through a Metro Area Network. LIC has
tied up with some Banks and Service providers to offer on-line
premium collection facility in selected cities. LIC’s ECS and ATM
premium payment facility is an addition to customer convenience.
Apart from on-line Kiosks and IVRS, Info Centers have been
commissioned at Mumbai, Ahmedabad, Bangalore, Chennai,
Hyderabad, Kolkata, New Delhi, Pune and many other cities. With
a vision of providing easy access to its policyholders, LIC has
launched its SATELLITE SAMPARK offices. The satellite offices
are smaller, leaner and closer to the customer. The digitalized
records of the satellite offices will facilitate anywhere servicing
and many other conveniences in the future.
From then to now, LIC has crossed many milestones and has set
unprecedented performance records in various aspects of life
insurance business. The same motives which inspired our
forefathers to bring insurance into existence in this country inspire
us at LIC to take this message of protection to light the lamps of
security in as many homes as possible and to help the people in
providing security to their families.
24
Some of the important milestones in the life
insurance business in India are:
1850Non life insurance debuts with triton insurance company.
1870 Bombay mutual life assurance society is the first Indian
owned life insurer 1912The Indian Life Assurance Companies Act
enacted as the first statute to regulate the life insurance business.
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.
25
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.
26
Insurance sector reforms
27
The Insurance Regulatory and Development
Authority (IRDA)
But the scenario changed with the private and foreign companies
foraying in to the insurance sector. This necessitated the need for a
strong, independent and autonomous Insurance Regulatory
Authority was felt. As the enacting of legislation would have taken
time, the then Government constituted through a Government
resolution an Interim Insurance Regulatory Authority pending the
enactment of a comprehensive legislation. The Insurance
Regulatory and Development Authority Act, 1999 is an act to
provide for the establishment of an Authority to protect the
interests of holders of insurance policies, to regulate, promote and
ensure orderly growth of the insurance industry and for matters
connected therewith or incidental thereto and further to amend the
Insurance Act, 1938, the Life Insurance Corporation Act, 1956 and
28
the General insurance Business (Nationalization) Act, 1972 to end
the monopoly of the Life Insurance Corporation of India (for life
insurance business) and General Insurance Corporation and its
subsidiaries (for general insurance business). The act extends to the
whole of India and will come into force on such date as the Central
Government may, by notification in the Official Gazette specify.
Different dates may be appointed for different provisions of this
Act. The Act has defined certain terms; some of the most important
ones are as follows appointed day means the date on which the
Authority is established under the act. Authority means the
established under this Act. Interim Insurance Regulatory Authority
means the Insurance Regulatory Authority set up by the Central
Government through Resolution No. 17(2)/ 94-lns-V dated the
23rd January, 1996. Words and expressions used and not defined
in this Act but defined in the Insurance Act, 1938 or the Life
Insurance Corporation Act, 1956 or the General Insurance
Business (Nationalization) Act, 1972 shall have the meanings
respectively assigned to them in those Acts.
29
A new definition of "Indian Insurance Company" has been
inserted. "Indian insurance company" means any insurer being a
company (a) which is formed and registered under the Companies
Act, 1956
(b) in which the aggregate holdings of equity shares by a foreign
company, either by itself or through its subsidiary companies or its
nominees, do not exceed twenty-six per cent. Paid up capital in
such Indian insurance company (c) whose sole purpose is to carry
on life insurance business, general insurance business or re-
insurance business.
30
Chapter: 3
31
FLOW OF Insurance Industry in
India
• Special Features
STRUCTURE OF INSURANCE
INDUSTRY: Snap Shot
Historical Perspective
(i) Prior to 1956 242 companies operating
(ii) 1956 - 2001 Nationalization – LIC monopoly
player – Government control
(iii) 2001 -- Opened up sector
32
Industry
Snap Shot - Contd.
• (a) LIC – Fully owned by Government
(b) Postal Life Insurance
• (ii) Private players -
1. Bajaj Allianz Life Insurance Co. Ltd.
2. Birla Sun Life Insurance Co. Ltd. (BSLI)
3. HDFC Standard Life Insurance Co. Ltd. (HDFC STD
LIFE)
4. ICICI Prudential Life Insurance Co. Ltd. (ICICI
PRU)
5. ING Vysya Life Insurance Co. Ltd. (ING VYSYA)
6. Max New York Life Insurance Co. Ltd. (MNYL)
7. MetLife India Insurance Co. Pvt. Ltd. (METLIFE)
8. Kotak Mahindra Old Mutual Life Insurance Co. Ltd.
9. SBI Life Insurance Co. Ltd. (SBI LIFE)
10. TATA AIG Life Insurance Co. Ltd. (TATA AIG)
11. Reliance Life Insurance
12. Aviva Life Insurance Co. Pvt. Ltd. (AVIVA)
13. Sahara India Life Insurance Co. Ltd. (SAHARA
LIFE)
14. Shriram Sunlam
• (iii) Other likely players – PNB Life Insurance,
Axa Bharti Enterprises
33
Potential of the Insurance sector:
Market share:
34
Market Share
Company Indian Foreign Market
Promoter/ Insurance share
Partner based on
premium
Aviva life Dabur Aviva, UK 1.12
Bajaj Bajaj Auto Allianz, 6.12
Allianz Germany
Birla sun Aditya Sun Life, 1.84
life Birla Canada
group
HDFC HDFC Standard 2.96
Standard Life, UK
ICICI ICICI Prudential, 7.11
Prudential Bank UK
ING Vysya ING 0.63
Vysya Bank Insurance,
Netherlands
Kotak Kotak Old Mutual 0.71
Mahindra, Mahindra South
Old Bank Africa
Mutual
Max New Max India New York 1.32
York Life, US
MetLife Jammu & MetLife, 0.40
Kashmir US
Bank
Sahara Sahara None 0.80
Life India
Insurance
SBI Life SBI Cardiff, 1.52
France
35
Tata AIG Tata AIG, US 1.78
Group
CONTRIBUTION TO INDIAN
ECONOMY
(i) Life Insurance is the only sector which garners
pension sector
36
Aggregation of Long Term
Savings
(i) Total Assets of Life Insurance
Companies
37
Spread of financial services in
rural areas and amongst socially
underprivileged
• IRDA Regulations provide certain minimum business to be done
1400 centers.
in rural areas.
38
Long term funds for
infrastructure
39
Development of Capital Markets/
Economic Growth
40
EMPLOYMENT GENERATION
employment opportunities.
15.59 lakhs
41
SPECIAL FEATURES
• Tax clubbing of various savings short term and long term into
same bracket have a bias towards short term savings.
• Distinction between the short term savings and long term savings
is critical from investor’s point of view. More prone to inflationary
pressures
42
GROWTH POTENTIAL
PHASE OF TRANSITION
• Life Insurance industry is under the phase of infancy after 50
years of monopoly
43
Chapter: 4
Company profile
Management
Areas of Business
Products
44
COMPANY PROFILE
In the USA, OLD MUTUAL is one of the top ten fixed annuity
businesses offering an array of specialist asset management skills
45
through its 23 asset management businesses. The company’s US
Life business recorded sales of $4 billion at the end of 2002.
The OLD MUTUAL Group has the ability to cater for a variety of
consumer segments and offers a comprehensive and innovative
range of products for all income groups.
46
Mission:
MANAGEMENT
47
Mr. Gaurang Shah is the Managing Director of Kotak Mahindra
Old Mutual Life Insurance Limited.
48
include commercial vehicles, personal loans, structured
products, car loans and loans against shares.
49
As Chief Financial Officer at Kotak Life Insurance, he oversees
all aspects of Finance including Operations, Regulatory,
Internal Control, Finance, Accounts and Treasury.
50
positions within the Kotak Mahindra group starting from Car
Financing (Kotak Mahindra Finance Ltd) to Stock broking &
Distribution of investment products/ Mutual funds (Kotak
Securities). Mr. Vaidya set up the private banking business and
private equity fund for the Kotak group.
51
experience in the Life Insurance Industry. He worked for Sanlam
Life in South Africa for 3 years before joining Old Mutual more
than 20 years ago. Eksteen started with Old Mutual as a Legal
Adviser and after that held various positions. He sold life
assurance for some time, served as Head of Old Mutual's Training
Division, Head of Old Mutual's Trust Company, Project Leader for
implementing a new Sales Process with McKinsey's, Head of
Conventions and Motivation, Head of Agency Marketing and
finally Head of Banc assurance with Old Mutual Bank. In addition
he played a role in the wider Industry. He was Vice-President of
the South African Insurance Institute for two years as well as Vice-
President of the Financial Planning Institute for three years. In this
time Eksteen pioneered the introduction of the CFP qualification
into South Africa. He has traveled widely during his career,
working in the USA and England and also implemented Training
Programme in Namibia, Zimbabwe, Malawi and Kenai. His
current role is to substantially upgrade the level of Training and
assist in the implementation of Performance Management Systems
in Kotak Life Insurance.
52
AREAS OF BUSINESS
53
to buy 25% stake held by Goldman Sachs in KMCC and KS
subject to regulatory approvals.
The group has a net worth of around Rs.2,000 crore and employs
around 6,000 employees across its various businesses servicing around
one million four hundred thousand customer accounts through a
distribution network of branches, franchisees, representative offices
and satellite offices across 216 cities and towns in India and offices in
New York, London, Dubai and Mauritius.
54
KOTAK GROUP IS INVOLVED IN THE FOLLOWING
AREAS OF BUSINESS:-
55
dealers and has entered into strategic arrangement with various car
manufacturers in India for being their preferred financier.
56
Mergers & Acquisitions, Advisory Services and Fixed Income
Securities and Principal Business.
57
November 2, 1985 and obtained its ‘Certificate of Commencement
of Business on February 11, 1986.
International Subsidiaries
58
Kotak Mahindra International Limited (KMIL) is the international
arm of the Kotak Mahindra Group and was incorporated in 1994 in
Mauritius, with a branch in Dubai. Today the international
operations also cover the United Kingdom, through Kotak
Mahindra U.K. Limited and in the USA, through Kotak Mahindra
Inc. USA. These companies are subsidiaries of Kotak Mahindra
Capital Company (KMCC) – the Investment Banking Division of
the Group. Services offered include GDR and ADR trading and
broking, debt syndication, placement of Indian securities and
advisory services. Kotak Mahindra was the first Indian group to be
registered with the Securities and Futures Authority, U.K. Also,
Kotak Mahindra is the first Indian group registered in the US
providing service to both Institutional investors and High Net
worth Clients in the US for their investments into Indian markets.
Kotak Securities
59
NRI investors, trusts, corporate and Banks. The investment product
range offered by PCG covers equity investment and equity trading,
equity derivatives, portfolio management, IPO’s and Mutual funds.
The Company has a full fledged research division involved in
macro economic studies, sectoral research and company specific
equity research combined with a strong and well networked sales
force which helps deliver current and up to date market
information and news.
60
KMOM – PROGRESS TILL DATE
• 44 branches in 31 cities.
• 7500 life advisors.
• 1000employees of very good quality.
• Ranks 2nd in terms of average premium per
policy.
• Ranks 4th in total advertising awareness.
• First year premium income:
2001-02: 7 Crores
61
2002-03: 35 Crores
2003-04: 124 Crores
2004-05: 375 Crores
62
Entrepreneurial employees
Branch network
Knowledge of the Indian market
Access to customer base
Distribution associates
OLD MUTUAL PLC
Domain knowledge
Technology
Product innovation
Training expertise
Global perspective
System and processes
Multi channel management
Old Mutual was established more than 150 years ago. Old
mutual plc. is a world-class international financial service
company. It owns the largest companies in the following areas in
South Africa. They are:
1. Life Insurance Company
2. Asset Management Company
3. Bank
63
4. Non-life insurance company
It has been developed into an International financial services group
whose activities are focused on asset gathering and asset
management. The Old Mutual Group offers a diverse range of
financial services in three principal geographies: South Africa, the
United States and the United Kingdom. The company is listed on
the London Stock Exchange with a market capitalization of
approximately $6 billion and is a member of the elite FTSE 100
index. In the 2003 rankings of the World's 500 largest corporations
by Fortune magazine, Old Mutual climbed 87 places to position
number 366 and was also listed as the 14th largest insurance
company in the world.
Old Mutual is the largest financial services business in South
Africa, through its life insurance, asset management, banking and
general insurance operations. The company serves 4 million life
insurance policyholders and employs over 13 000 South Africans
in its local operations.
In the USA, Old Mutual is one of the top ten fixed annuity
businesses offering an array of specialist asset management skills
through its 23 asset management businesses. The company’s US
Life business recorded sales of $4 billion at the end of 2002.
64
Operations in the United Kingdom are focused on wealth
management, through Gerrard as one of the leading private client
stock broking businesses in the UK.
The Old Mutual Group has the ability to cater for a variety of
consumer segments and offers a comprehensive and innovative
range of products for all income groups.
PRODUCTS
Term Plans
Kotak Term Assurance Plan
Kotak Preferred Term Plan
Endowment Plans
Kotak Endowment Plan
Kotak Money Back Plan
Kotak Child Advantage Plan
Kotak Capital Multiplier Plan
Kotak Retirement Income Plan
Kotak Premium Return Plan
Unit Linked Plans
Kotak Retirement Income Plan (Unit-linked)
Kotak Safe Investment Plan II
Kotak Flexi Plan
65
Kotak Easy Growth Plan
Kotak Privilege Assurance Plan
Group
Employee Benefits
Kotak Term Grouplan
Kotak Credit-Term Grouplan
Kotak Complete Cover Grouplan
Rural
Kotak Gramin Bima Yojana
66
HIERARCHY OF KMOM LIFE INSURANCE
LIMITED
(RUDRAPUR BRANCH)
Branch manager
Sales Manager
Operation Executive
Assistant SM Operations
Life advisor
67
Chapter: 5
68
Age Wise Clasification
45 44
40
35
30
No. of Customers
25
22 23
20
15
11
10
0
18-25 26-30 31-45 46 & Above
Years
69
Gender No of Member
MALE 66
FEMALE 34
AGE No Of Members
18-25 11
26-30 22
31-45 44
46 to above 23
70
Gender wise clasification
70
66
60
50
No. of Customers
40
34
30
20
10
0
MALE FEMALE
Years
71
Members
50
48
45
40 40
35
No. of Customers
30
25
20
15
12
10
0
2 to 4 5 to 8 8 to aboce
No of members
72
Income No of Members
40K -70K 17
70K-1 Lake 41
1 Lake to 3 Lakes 28
3 Lacks 14
73
Income Wise Classification
45
40
41
35
30
28
No. of Customers
25
20
17
15 14
10
0
40 k to 70k 70k to 1 Lake 1 Lake to 3 3 Lake to
Lakes Above
Income (P.A)
74
NO OF MEMBER HAVING INSURANCE
NO
58%
YES
42%
75
40 40
35
30 28
No. of Customers
25
21
20 18
15
11
10
0
Self Spouse Children Parents All
76
35
LIC
30
ICICI
25
No. of Customers
Birla
Sunlife
20
SBI
15
HDFC
10
Bajaj
Alliance
5
TATA
AIG
0 Kotak
Term Plan Endowment Whole life Money Back Retirement Child Plan Unit Link
Plan Mahindr
a
Different Plans ING
Vyasya
Max
Newyork
Met Life
77
Under insurable persons Fully insurable persons
82% 18%
Under Insured
82% Fully Insured
18%
78
Insurance Plan Market Share
Term Plan 39%
Money back Plan 14%
Endowment Plan 15%
Child Plan 8%
Unit link Plan 24%
Unitlink plan
24% Child Plan
8%
Endownment Plan
15%
Term Plan
39% Moneyback Plan
14%
79
Chapter 6:
Finding
Suggestion
80
Finding and Suggestion
81
Chapter 7
Conclusion
82
Chapter 8
References
In order to obtain more information regarding the present study
and to substantiate it with theoretical proof, the following
references were made: -
Websites visited:
www.kotaklifeinsurance.com
www.google .com
83
Chapter 9:
Annexure
Questionnaire
1) Name ______________________________
2) Age
4) Occupation:
5) Family member
1) 2 to 4 2) 5 to 8 3) 8 to above
84
6) Do u have a life insurance?
Yes_______ No_______
If yes,
Which is it?
Company’s Term Endow Whole Money Retire Child Unit
name plan ment life back ment Plan link
Plan
LIC
ICICI
Prudential
Birla
Sunlife
SBI Life
HDFC
Standard
Life
Bajaj
Alliance
TATA AIG
Kotak
Mahindra
ING Vysya
Max
Newyork
Met Life
Reliance
Shri Ram
Sahara
85
1) 40 K to 70 K 2) 70 K to 1 lake 3) 1 lake to 3 lakes 4) 3 lakes to
above
86