CHAPTER 6 ANALYSIS OF DATA

DATA ANALYSIS & INTERPRETATION

1) Are you aware about life insurance?

Option Yes No Total

Response 200 0 200

Awareness of life insurance

0%

Yes No 100%

Interpretation: From This Diagram Researcher May Interpret That 100% Peoples Aware About the Insurance.

2)

Do you have a life insurance policy/investment plan in your name?

Option Yes No Total

Response 165 35 200

Have a life insurance

18% Yes No 82%

Interpretation: From This Diagram Researcher May Interpret That 82% of people have a life insurance and the 18% people have no insurance. It shows they are more concern about their future and future uncertainty.

3) In which kind of company do you have life insurance?

Option Private Company Foreign based company Government owned company Public Limited Company Total

Response 92 2 102 4 200

Kind of company have life insurance

2% Private Company Foreign based company 46% 51% Government owned company Public Limited Company 1%
Interpretation: From This Diagram Researcher May Interpret That 46% Respondent Would Prefer To Make To Purchase From Private Company,46% Respondent Would Prefer To Make To Purchase From Government Owned Company And 1% Respondent Like To Foreign Based And 2% Like To Public Ltd Company For Purchase Insurance. It shows that the most of the respondents are prefer the Government company to invest their policy.

4) Are you aware of HDFC SLIC?

Option Yes No Total

Response 158 42 200

Awareness of HDFC SLIC

21% Yes No 79%

Interpretation: From This Diagram Researcher May Interpret That 79% Respondent are aware of HDFC SLIC. And 21% of people are not aware of HDFC SLIC. I shows that more of the people are aware of the HDFC SLIC and it is the strength of HDFC SLIC.

6 ) Have you seen any advertisement of HDFC SLIC?

Option Yes No Total

Response 178 22 200

Have seen advertisement of HDFC

11%

Yes No 89%

Interpretation: From This Diagram Researcher May Interpret That 89% of respondent have seen advertisement of HDFC SLIC and 11% of respondent have not seen any advertisement of HDFC SLIC. So that we can say that the Marketing policy of the company is good and they have good marketing power.

7) From where do you seen advertisement of HDFC SLIC?

Option Television Radio News paper

Response 130 25 22

Internet Total

23 200

From where seen advertisement

12% 11% 12% 65%

Television Radio News paper Internet

Interpretation: From This Diagram Researcher May Interpret That 65% of respondent have seen advertisement of HDFC SLIC on television and 11% of respondent have seen advertisement of HDFC SLIC in news paper and 12% of respondents are seen advertisement on radio and internet So that we can say that They should advertise more on T.V then any other media because most of their customers do watch tv.

8) What are the parameter consider when you purchase policy?

 cost of policy

Rate Option Most Important Important Neutral Not Important Not Most Important Response 131 48 19 2 0 200 (Wi) 5 4 3 2 1 Fi * Wi 655 192 57 4 0 908 WAM 4.54

Cost of Policy
65.50%

24.00% 9.50% 1.00% Most Important Important Neutral Not Important 0.00% Not Most Important

Interpretation: -From This Diagram Researcher May Interpret That 65.50% Respondent Give Most Important To Cost Of Policy When They Want To Purchase Policy. So company should give such a scheme having less cost of policy.

 Service Option Most Important Important Neutral Not Important Not Most Important Response 49 115 30 4 2 200 Rate (Wi) 5 4 3 2 1 Fi * Wi 245 460 90 8 2 805 WAM 4.03

Service
57.50%

24.50% 15.00% 2.00% Most Important Important Neutral Not Important 1.00% Not Most Important

Interpretation: -From This Diagram Researcher May Interpret That 57.50% Respondent Give Importance To Service Of Policy When They Want To Purchase Policy, And 24.50% Respondent Give Most Importance To Service Of Policy. Company should understand the need of service and should try to fulfill it.

 Need of policy

Need of Policy Option Most Important Important Neutral Not Important Not Most Important Response 62 50 75 11 2 200 Rate (Wi) 5 4 3 2 1 Fi * Wi 310 200 225 22 2 759 WAM 3.80

Need of Policy
37.50% 31.00% 25.00%

5.50% 1.00% Most Important Important Neutral Not Important Not Most Important

Interpretation: From This Diagram Researcher May Interpret That 31% Respondent Give Most Importance To Need Of Policy, 25% Respondent Give Importance To Need Of Policy And 37.50% Respondent Neutral For Need Of Policy, Other Not Give Importance To This Parameter.

 Availability

Option Most Important Important Neutral Not Important Not Most Important

Response 35 80 46 34 5 200

Rate (Wi) 5 4 3 2 1

Fi * Wi 175 320 138 68 5 706

WAM 3.53

Availability
32.00%

23.00%

22.50%

12.00%

10.50%

Most Important

Important

Neutral

Not Important

Not Most Important

Interpretation: From This Diagram Researcher May Interpret That Availability Of Policy Is Most Important For 32% And Important For 23% And Neutral For 22.50% And Not Important For 12% Respondent. These suggest that company should have good distribution channel.

 Return of policy: Option Most Important Important Neutral Not Important Not Most Important Response 64 46 45 24 21 200 Rate (Wi) 5 4 3 2 1 Fi * Wi 320 184 135 48 21 708 WAM 3.54

Return on Investment
32.00% 23.00%

22.50%

12.00%

10.50%

Most Important

Important

Neutral

Not Important

Not Most Important

Interpretation: From This Diagram Researcher May Interpret That Return on investment Is Most Important For 32% And Important For 23% And Neutral For 22.50% And Not Important For 12% Respondent. More than 50% of respondents wants that they should earn return on investment also with security.

 Image of company

Option Most Important Important Neutral Not Important Not Most Important

Response 62 57 42 20 19 200

Rate (Wi) 5 4 3 2 1

Fi * Wi 310 228 126 40 19 723

WAM 3.62

Image of Company
31.00% 28.50% 21.00%

10.00%

9.50%

Most Important

Important

Neutral

Not Important

Not Most Important

Interpretation: From This Diagram Researcher May Interpret That Availability Of Policy Is Most Important For 31% And Important For 28.50% And Neutral For 21.00% And Not Important For 9.50% Respondent. Generally people do prefer Government company by that conclusion we can say that people do peruse image of company.

 Weighted average mean:

Cost of Policy Service Need of Policy Availibility Return on Policy Image of Company

4.54 4.03 3.80 3.53 3.54 3.62

WAM
4.80 4.60 4.40 4.20 4.00 3.80 3.60 3.40 3.20 3.00 4.54

4.02 3.80 3.53 3.54 3.62

Cost of Policy

Service

Need of Policy

Availibility

Return on Policy

Image of Company

Interpretation: From This Diagram Researcher May Interpret That When People Buying Policy At That Time Cost Of Policy Is Most Important, Service, Need Of Policy, Availability Is Important When They Go For Buying Policy, Return On Investment, Image Of Company Neutral Consider When They Buy Any Policy

9) From below do you know which is the punch line of HDFC SLIC? Option Jindgi k sath bhi jindgi k bad bhi Sir utha k jio Jeene ka licence khushiyon ki planning with Total Response 43 131 15 11 200

Punch line of HDFC SLIC

8% 6%
Jindgi k sath bhi jindgi k bad bhi

21%
Sir utha k jio Jeene ka licence

65%

khushiyon ki planning with

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 65% of respondents are think that the punch line of HDFC SLIC is sir utha k jio. That shows that the respondent are aware of the the punch line of HDFC SLIC that shows good marketing strength of a HDFC SLIC.

10) Do you think HDFC SLIC is trustful?

Option

Response

Yes

144

No

56

Total

200

Is HDFC SLIC trustful ?

28%

Yes No 72%

Interpretation: From This Diagram Researcher May Interpret That 72% of people trust on HDFC SLIC and the 28% of people who dont trust on HDFC SLIC that shows the strength of HDFC SLIC and good image of the company in to the market.

11) Have any of HDFC SLIC agent contacted regarding any life insurance policy provided by HDFC SLIC?

Option

Response

Yes

119

No

81

Total

200

Have any of HDFC SLIC agent contacted ?

41% 59%

Yes No

Interpretation: From This Diagram Researcher May Interpret That 59% of respondents have contacted by agent of HDFC SLIC and the 41% of respondent are not contacted by the agent of HDFC SLIC. They should improve their distribution channel.

12) Which policy do you have in current stage?

Option Retirement/Pension Plan Term Plan Savings and Investment Plan Health Plan HDFC Savings Assurance Plan HDFC Assurance Plan HDFC Single Premium Whole of Life Insurance Plan HDFC SL New Money Back Plan HDFC Endowment Assurance Plan HDFC Home Loan Protection Plan HDFC Premium Guarantee Plan HDFC Term Assurance Plan HDFC SL Youngster Super Premium HDFC SL Youngster Super II HDFC Childrens Plan HDFC Personal Pension Plan Total

Response 4 5 16 6 0 1 7 1 1 0 0 5 5 13 18 7 89

Which policy you have

20 18 16 14 12 10 8 6 4 2 0

Response

Interpretation:From This Diagram Researcher May Interpret That more 18 are children policy customer and 17 are youngstar super plan 2 and 16 are savings and investment plan that shows that company have more foucus on this three plan and attract more and more customer segment for this policy.

13) Which type of policy do you have?

Option

Response

Unit linked insurance

36

General Insurance Total

53 89

Type of policy you have

40% 60%

Unit linked insurance General Insurance

Interpretation: From This Diagram Researcher May Interpret That 40% of customers of HDFC SLIC are interested to invest their policy in unit linked insurance type of policy and the 60 % of customers are interested in general insurance policy it shows that People wants with security less return then unsecure high return.

14) Are you satisfied with HDFC SLIC on the basis of following parameters?  Schemes Option Highly satisfied satisfied Neutral Dissatisfied Highly dissatisfied Response 47 27 12 2 1 89 Rate (Wi) 5 4 3 2 1 Fi * Wi 235 108 36 4 1 384 WAM 4.31

Schemes
52.81%

30.34%

13.48% 2.25% Highly satisfied satisfied Neutral Dissatisfied 1.12% Highly dissatisfied

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 52.81% of respondents give most important to the schemes while they purchase their insurance policy which shows the HDFC SLIC have created new and effective schemes for their customer then and then only the customer will attract their policy.

 Return on investment

Option Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied

Response 10 59 20 0 0 89

Rate (Wi) 5 4 3 2 1

Fi * Wi 50 236 60 0 0 346

WAM 3.89

Return on investment
66.29%

22.47% 11.24% 0.00% Highly satisfied satisfied Neutral Dissatisfied 0.00% Highly dissatisfied

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 66.29% of respondents give important to the Return on investment while they purchase their insurance policy which shows the HDFC SLIC have created new and effective return on investment plan for their customer then and then only the customer will attract their policy.

 Service Option Highly satisfied satisfied Neutral Dissatisfied Highly dissatisfied Response 28 24 34 3 0 89 Rate (Wi) 5 4 3 2 1 Fi * Wi 140 96 102 6 0 344 WAM 3.87

Service
38.20% 31.46% 26.97%

3.37% 0.00% Highly satisfied satisfied Neutral Dissatisfied Highly dissatisfied

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 38.20% of respondents are think that the service is neutral parameter while they purchase their insurance policy that is why we can say that the company have consider service parameter when they create any insurance plan for the customer they should provide good service to the customer.

 Products availability. Rate Option Highly satisfied Satisfied Neutral Dissatisfied Not Most Important Highly dissatisfied Response 28 21 21 17 2 89 (Wi) 5 4 3 2 1 Fi * Wi 140 84 63 34 2 323 WAM 3.63

Products availability
31.46% 23.60% 23.60% 19.10%

2.24%

Highly satisfied

satisfied

Neutral

Dissatisfied

Highly dissatisfied

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 31.46% Are think that Product availability is the most important factor while purchasing their investment plan that is why we can say that the company should have consider that the product is available to whole customer group easily then and then only customer will satisfy their products otherwise not.

 Claim. Option Highly satisfied Satisfied Neutral Dissatisfied Highly dissatisfied Response 12 22 34 9 12 89 Rate (Wi) 5 4 3 2 1 Fi * Wi 60 88 102 18 12 280 WAM 3.15

Claim
38.20%

24.72%

13.48% 10.12%

13.48%

Highly satisfied

satisfied

Neutral

Dissatisfied

Highly dissatisfied

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 38.20% Are give the neutral for the claim of HDFC SLIC that is why the company should concentrate on the passing them claim and the customer have a perception in their mind that is why the company should take action for that.

 Weighted average mean:

Cost of Policy Service Need of Policy Availibility Return on Policy

4.31 3.89 3.87 3.63 3.15

WAM
4.40 4.20 4.00 3.80 3.60 3.40 3.20 3.00 Cost of Policy Service Need of Policy Availibility Return on Policy

4.31 3.89

3.87 3.63

3.15

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 63.75% Are Highly Influence By Advertisement And 17.99% Respondents Influence By Advertisement And 15.83% Respondent Some Agree With Neutral Influence By Advertisement.

15) Who motivates you to purchase insurance/investment plans?  Advertisement Rate OPTION HIGHLY INFLUENCE SOMEWHAT INFLUENCE NEUTRAL NOT INFLUENCE NOT HIGHLY INFLUENCE TOTAL Response 49 28 6 6 0 89 (Wi) 5 4 3 2 1 Fi * Wi WAM 245 112 18 12 0 387 4.35

Advertisement
55.06%

31.46%

6.74%

6.74% 0.00%

HIGHLY INFLUENCE

INFLUENCE

NEUTRAL

NOT INFLUENCE HIGHLY NOT INFLUENCE

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 55.06% Are give most important to the advertisement that is why the company should give more advertisement to attract the customer so that the customer will attract to purchase the products of HDFC SLIC.

 High Return.

OPTION HIGHLY INFLUENCE SOMEWHAT INFLUENCE NEUTRAL NOT INFLUENCE NOT HIGHLY INFLUENCE TOTAL

Response Rate (Wi) 12 56 15 5 1 89 5 4 3 2 1

Fi * Wi 60 224 45 10 1 340

WAM 3.82

High Return
62.92%

13.48%

16.85% 5.62% 1.13%

HIGHLY INFLUENCE

INFLUENCE

NEUTRAL

NOT INFLUENCE

HIGHLY NOT INFLUENCE

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 62.92% Are give more important to the high return parameter that is why the company should have more concentrate on return what they give if they will give more return on investment then they will get more policy in to the market.

 ADVICE FROM FRIENDS: Rate OPTION HIGHLY INFLUENCE SOMEWHAT INFLUENCE NEUTRAL NOT INFLUENCE NOT HIGHLY INFLUENCE TOTAL Response 31 21 29 4 4 89 (Wi) 5 4 3 2 1 Fi * Wi 155 84 87 8 4 338 WAM 3.80

Advice From Friends

34.83% 32.59% 23.60%

4.49%

4.49%

HIGHLY INFLUENCE

INFLUENCE

NEUTRAL

NOT INFLUENCE HIGHLY NOT INFLUENCE

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 33.83% of respondents are motivates to purchase policy by the parameter advice from the friends it shows that the people have good image in the mind for the HDFC SLIC.

 Family Responsibility.

OPTION HIGHLY INFLUENCE SOMEWHAT INFLUENCE NEUTRAL NOT INFLUENCE NOT HIGHLY INFLUENCE TOTAL

Response 20 30 24 13 2 89

Rate (Wi) 5 4 3 2 1

Fi * Wi 100 120 72 26 2 320

WAM 3.60

Family Responsibility
33.71% 26.97% 22.47% 14.61%

2.24%

HIGHLY INFLUENCE

INFLUENCE

NEUTRAL

NOT INFLUENCE HIGHLY NOT INFLUENCE

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 33.71% are give important to the family parameter they think that family will more motivates to purchase the policy.

Weighted average mean:

Parameter Cost of Policy Service Need of Policy Availability

WAM 4.35 3.82 3.80 3.60

WAM
4.40 4.30 4.20 4.10 4.00 3.90 3.80 3.70 3.60 3.50 Cost of Policy Service Need of Policy Availibility 3.60 3.82 3.80 4.35

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 4.35% is the highest weighted average mean that shows that the customer will firstly consider the cost when they purchase any of the policy that is why company should have create that type of policy which is less costlier and more benefited that attract the customer more.

16)

From which branch you purchase your policy?

Option Athwalines Ciytlight Varachha Total

Response 23 13 53 89

From which branch purchase policy ?

26% 59% 15%

Athwalines Ciytlight Varachha

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 59% are from varacha are more concern about their future security then people from other side. People from athwalines and citylight they are concern about return form the security because of that reason varracha branch is getting more response then other two braches.

17) which type of premium paying period do you have in your policy?

Option Monthly Quarterly Half yearly Yearly Total

Response 14 12 34 29 89

Premium paying period

16% 33% 13% Monthly Quarterly Half yearly 38% Yearly

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 38% are prefer halfyearly and the 33% of respondents are prefer yearly premium that shows that customers prefer half yearly and yearly premium paying policy because they dont want burden on themselves monthly for paying premium.

18) How much would you spend per annum premium for your investment/insurance plan? Option Less than Rs. 6,000 Rs. 6,001 Rs. 10,000 Rs. 10,001 Rs. 25,000 Rs. 25,001 Rs. 50,000 Rs. 50,000 Rs. 1,00,000 More than Rs. 1,00,000 Total Response 53 22 7 5 2 0 89

How much spend premium per annum

6% 2% 0% 8%
Less than Rs. 6,000 Rs. 6,001 Rs. 10,000 Rs. 10,001 Rs. 25,000

25% 59%

Rs. 25,001 Rs. 50,000 Rs. 50,000 Rs. 1,00,000 More than Rs. 1,00,000

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 59% are preferred to spend premium of less than Rs. 6000 per annum and 25% of respondent spend per annum Rs. 6,001 to 10,000 that shows that the company should create more policy consider this premium then the customer will prefer more to purchase policy.

 AGE (in years):

Option 18 TO 25 26 TO 35 36 TO 50 >50 Total

Response 86 74 26 14 200

AGE
7% 18 TO 25 26 TO 35 43% 36 TO 50 37% >50

13%

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 37% are at the age of 26 to 35 and 43% are 18 to 25 and 13% are 36 to 50 and 7% are above 50.

 ANNUAL INCOME:

Option < 1 lacks 1 to 3 lacks 3 to 5 lacks > 5 lacks Total

Response 101 62 16 21 200

Income
11% 8% < 1 lacks 1 to 3 lacks 50% 31% > 5 lacks 3 to 5 lacks

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 50% of respondent have the income of less than 1 lack Rs.

 GENDER:

Option MALE FEMALE Total

Response 159 41 200

Gender

21% MALE FEMALE 79%

Interpretation: From This Diagram Researcher May Interpret Most Of Respondents 79% are male and 21% of respondents are female.