“A study on customer awareness to enhance market share of Bajaj Allianz Unit Link Insuranc

SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
1
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
2
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
3
EXECUTIVE SUMMARY
The project report on “A study on customer awareness to enhance
market share of Bajaj Allianz Unit Link Insurance Plan” in Hubli city. I
through under took the project by the help of BAJAJ ALLIANZ Life
Insurance Ltd. Sales team manager Chandru. A.Kallanagoudar
Objectives:
1. To study the awareness level of Bajaj Allianz ULIPs with view
to recommend measure to improve market share.
2. To find vital communication media.
3. To know the factors that influence investors while taking
investment decisions.
4. To find potential market for ULIPs.
Scope of the study:
The research was undertaken to gather information
from the respondent to know exactly how many people
aware of ULIPs in Hubli city and the study is restricted
within the city.
One of the fast growing city in Karnataka and
represents huge market for scope with more than 90
lakhs people.
Hubli is one of the commercial areas .
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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It is a place where the small and large industries are
located .with the more increase population and there
style more people are conscious about the their lives.
LIMITATIONS OF THE STUDY
Not single work is exception to the limitations every work has got
its own limitations, so due to time constraint my study confines only to
Hubli city and it is not possible to make extensive study. It is assumed
that the sample selected represents entire population.
RESEARCH METHODOLOGY
Data source :
Primary (Filed Survey)
Secondary data
(internal)
Area of Research : Hubli city
Research
instrument
: Questionnaires
Sample plan : Personal interview
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
5
Sample unit :
Businessman’s,
jobholders,
professionals etc.
Sampling method : Random sampling
Sample size : 100 customers
INDEX
PARTICULAR
Page no
Chapter-I
1) Introduction 09
2) Literature Review 18
3) Statement of the problem 19
4) Purpose of the study 19
5) Scope of the study 26
6) Objectives of study 27
Chapter-II
1) Organization Profile 29
2) Organization Chart 62
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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3) Sampling 64
4) Research Design 64
5) Data Collection Methods 64
6) Measuring tools. 65
Chapter-III
1) Result & discussion with graphs & charts.
68
2) Summary, conclusion, & a proposed action plan with resource
requirements and projected benefits to the organization.
84
Chapter-IV
1) Appendix
Questionnaire 88
Weekly Reports
2) Bibliography 92
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Industry overview
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
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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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 By the mid-1950s, there were around 170 insurance
companies in the country's life insurance scene. However,
in the absence of regulatory systems, scams and
irregularities were almost a way of life at most of these
companies
As a result, the government decided nationalizes the life assurance
business in India. The Life Insurance Corporation of India was set up in
1956 to take over around 250 life companies. 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.
For years thereafter, insurance remained a monopoly of the public sector.
It was only after seven years of deliberation and debate - after the RN
Malhotra Committee report of 1994 became the first serious document
calling for the re-opening up of the insurance sector to private players --
that the sector was finally opened up to private players in 2001.
The Insurance Regulatory & Development Authority, an autonomous
insurance regulator set up in 2000, has extensive powers to oversee the
insurance business and regulate in a manner that will safeguard the
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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interests of the insured.
INSURANCE SECTOR REFORMS
Due to immense growth in the insurance sectors the regulations were
introduced. In 1993,Malhotra Committee headed by former Finance
Secretary and RBI Governor was formed to evaluate the Indian insurance
industry and give its recommendations. After this committee the
regulatory body for insurance sector was formed with the name of IRDA.
INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY (IRDA)
IRDA has been formed as an authority to protect the interests of
insurance policies, to regulate, promote and ensure orderly growth of
insurance Industry and for matters connected therewith of incidental
thereto.
Composition of Authority under IRDA Act, 1999
As per the section 4 of IRDA Act of 1999, The Authority is a ten-member
team consisting of..
1) A Chairman
2) 5 Whole team Members
3) 4 part time members
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Duties, Powers and Functions of IRDA
Section 14 IRDA Act, 1999 lays down the duties, powers and functions of
IRDA
1. The Authority has the duty to regulate, promote and ensure orderly
growth of the Insurance business and re- insurance business.
2. This Include -
a) Issue to the applicant a certificate of registration, renew,
modify, Withdraw, suspend or cancel such registration.
b) Protection of interests of the policy holders in matter
concerning assigning of policy, nomination by policyholders,
insurable interest, settlement of insurance claim, surrender
value of policy and condition of contracts of insurance.
c) Specifying the code of conduct and practical training for
intermediary or insurance intermediaries and agents
3. Specifying the code of conduct for surveyors and loss assessors.
4. Promoting efficiency in the conduct of insurance business.
5. Promoting and regulating professional organization connected with
insurance and reinsurance business.
6. Levying fees and other charges for carrying out the purposes of
this act.
7. Calling from information from, undertaking inspection of,
conducting enquiries and investigation including audit of the
insurers, intermediaries and other organization connected with the
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Allianz Unit Link Insurance Plan”
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insurance business
8. Control and regulation of the rates, advantages, terms and
condition
9. Specifying the form and manner in which books of accounts shall
be maintained and statement of account shall be rendered by
insurers and other intermediaries.
10. Regulating investment of funds by insurance companies.
11. Regulating maintenance of margin of solvency.
12. Adjudication of disputes between Insurers and intermediaries
or insurance intermediaries.
13. Supervising the functioning of the Tariff Advisory Committee.
14. Specifying the % of Premium, Income of the insurer to finance
schemes for promoting and regulating professional organizations
15. Specifying the % of Life Insurance Business and general
Insurance Business to be undertaken by the Insurer in the rural or
social sector.
The IRDA since its incorporation as a statutory body has been framing
Regulations and registering the private sector insurance companies. IRDA
being an Independent statutory body has put a framework of globally
compatible regulations.
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Indian Insurance Sector
The Insurance sector in India governed by Insurance Act, 1938, the Life
Insurance Corporation Act, 1956 and General Insurance Business
(Nationalization) Act, 1972, Insurance Regulatory and Development
Authority (IRDA) Act, 1999 and other related acts.
INSURANCE COMPANIES:
In the private sector 12 life insurance and 6 general insurance companies
have been registered.
LIFE INSURERS
Public Sector
Life Insurance Corporation of India
LIFE INSURANCE CORPORATION OF INDIA (LIC)
An Act of Parliament, viz., Life Insurance Corporation Act, formed Life
Insurance Corporation of India (LIC) in September 1956, with capital
contribution from the Government of India.
The objective was: to conduct the business with the utmost economy, in
a spirit of trusteeship; to charge premium no higher than warranted by
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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strict actuarial considerations; to invest the funds for obtaining maximum
yield for the policy holders consistent with safety of the capital; to render
prompt and efficient service to policy holders, thereby making insurance
widely popular.
Since nationalization, LIC has built up a vast network of 2,048 branches,
100 divisions and 7 zonal offices spread over the country. The Life
Insurance Corporation of India also transacts business abroad and has
offices in Fiji, Mauritius and United Kingdom.
CURRENT SCENARIO OF THE INSURANCE INDUSTRY
Innovative products and aggressive distribution have become the say of
the day. Indians, have always seen life insurance as a tax saving device,
are now suddenly turning to the private sector that are providing them
new products and variety for their choice.
PRIVATISATION:
There were various reasons given by the government to nationalize
the insurance sector was to take insurance to the mass, facilitate the flow
of long term funds (which insurance companies, by virtue of the business
they are in, have ready access to) into development of infrastructure in
the country, and safe guard the interest of the policy holders. Towards
this end, state insurers did develop the insurance sector, though most
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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experts believe that these monopolies could have done much, much more.
In the early nineties is, the government went on a reforms binge
and started loosing controls on Indian industry. In 1993 the government
appointed the Malhotra committee headed former RBI governor
R.N.Malhotra, to draw up a blue print for insurance sector reforms. The
panel submitted its report a year later, recommending privatization,
backed by stiff entry guidelines and stringent regulations, so as to avoid
repeat per nationalization free for all.
The insurance regulatory and development authority (IRDA)
was founded to regulate the sector and over see the process of
privatization. In 2000, the IRDA started giving out licenses, and a year
later, the first of the private players started operation. The wheel had
come full circle.
Under state control, the insurance sector, both life and
non-life ,grew steadily. Still, Indians are not adequately insured and lag
behind most countries. Total insurance penetration (insurance premium
as a percentage of gross domestic product) is dismal when compared to
its economic standing. Just 2% of the population has some of life
insurance.
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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LIFE INSURANCE COMPANIES IN INDIA & THEIR
MARKET SHARE (as per march-06):
INDIAN
PROMOTER
FOREIGN
PROMOTER
COUNTRY INSURER WEBSITE MARKET
SHARE
Bajaj Auto Allianz AG Germany Bajaj Allianz
Life Insurance
bajajallianz.co
.in
7.56
ICICI Prudential USA ICICI
Prudential Life
Insurance
iciciprulife.co
m
7.35
HDFC Standard
Life
UK HDFC
Standard Life
Insurance
hdfcinsurance
.com
2.9
SBI Cardif (arm
of BNP
paribas)
Canada SBI Life
Insurance
sbilife.co.in 2.3
Aditya Birla
Group
Sun Life Canada Birla Sun Life
Insurance
birlasunlife.co
m
1.9
TATA USA tata_aig.com 1.3
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
17
Internationa
l Group
Insurance
Max India New York
life
USA Max New York
life insurance
Maxnewyorklif
e.com
1.2
Dabur India Aviva Plc USA Aviva Life
Insurance
avivaindia.co
m
1.1
Kotak
Mahindra
finance
Old Mutual
Plc
Australia Kotak
Mahindra Old
Mutual Funds
Omkotakmahi
ndra.com
1.1
Vysya Bank ING Group Netherlan
ds
INGVysya Life
Insurance
ingvysyalife.c
om
0.8
Reliance Amp Sanmar Australia Reliance life
insurance
Relianceindia.
com
0.5
Jammu &
Kashmir
bank
Met life
insurance
USA Met life Metlifeindia.c
om
0.4
Sahara India None India Sahara India Sahara India 0.1
Shriram Sanlam S.A Sriram life
insurance
Sriramlife.com 0.0
Government
of India
None India Life insurance
corporation
(LIC)
Licindia.com 71.4
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Literature Review:
The project report on “A study on customer awareness to enhance
market share of Bajaj Allianz Unit Link Insurance Plan” in Hubli. I through
under took the project by the help of BAJAJ ALLIANZ Life Insurance Ltd.
Sales team manager Chandru. A.Kallanagoudar
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:
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Allianz Unit Link Insurance Plan”
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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.
STATEMENT OF THE PROBLEM
“A study on customer awareness to enhance market share of
Bajaj Allianz Unit Linked Insurance Products”.
Management Problem:
In the project the management problem is the ULIP’s is new in the market
& the lot of people are don’t know about the ULIP’s the management
wants the improve market share of ULIP’s.
Advantages of investing in ULIP:
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Allianz Unit Link Insurance Plan”
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ULIPs have been selling like proverbial `hot cakes' in the recent past and
they are likely to continue to outsell their plain vanilla counterparts going
ahead. So what is it that makes ULIPs so attractive to the individual is, as
follows
1.Insurace cover plus savings: ULIP serve the purpose of providing life
insurance combined with savings at market-linked returns. To that extent,
ULIPs can be termed as a two-in-one plan in terms of giving an individual
the twin benefits of life insurance plus savings. This is unlike comparable
instruments like a mutual fund for instance, which does not offer a life
cover.
2.Multiple investment options: ULIP offer a lot more variety than
traditional life insurance plans. So there are multiple options at the
individual's disposal. . ULIPs generally come in three broad variants:
Aggressive ULIPs (which can typically invest 80%-100% in equities,
balance in debt)
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Allianz Unit Link Insurance Plan”
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Balanced ULIPs (can typically invest around 40%-60% in equities)
Conservative ULIPs (can typically invest up to 20% in equities)
Although this is how the ULIP options are generally designed, the exact
debt/equity allocations may vary across insurance companies. Individuals
can opt for a variant based on their risk profile. For example, a 30-Yr old
individual looking at buying a life insurance plan that also helps him
build a corpus for retirement can consider investing in the Balanced or
even the Aggressive ULIP. Likewise, a risk-averse individual who is not
comfortable with a high equity allocation can opt for the Conservative
ULIP.
3.Flexibility
Mutual Funds also offer hybrid/balanced schemes that allow an individual
to select a plan according to his risk profile. The difference lies in the
flexibility that ULIPs afford the individual. Individuals can switch between
the ULIP variants outlined above to capitalize on investment opportunities
across the equity and debt markets. Some insurance companies allow a
certain number of `free' switches. This is an important feature that allows
the informed individual/investor to benefit from the vagaries of
stock/debt markets. For instance, when stock markets were on the brink
of 7,000 points (Sensex), the informed investor could have shifted his
assets from an Aggressive ULIP to a low-risk Conservative ULIP.
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Switching also helps individuals on another front. They can shift from an
Aggressive to a Balanced or a Conservative ULIP as they approach
retirement. This is a reflection of the change in their risk appetite, as they
grow older.
4. Works like an SIP: Rupee cost-averaging is another important benefit
associated with ULIPs. With an SIP, individuals invest their monies
regularly over time intervals of a month/quarter and don't have to worry
about `timing' the stock markets. As a matter of fact, even the annual
premium in a ULIP works on the rupee cost-averaging principle. An
added benefit with ULIPs is that individuals can also invest a one-time
amount in the ULIP either to benefit from opportunities in the stock
markets or if they have an investible surplus in a particular year that they
wish to put aside for the future.
The chart below shows how ULIP can meet multiple needs at different life
stages.
Integrated Financial Planning
Starting a job,
Single
individual
Recently
married, no
kids
Married, with
kids
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Your
Need
Low
protection,
high asset
creation and
accumulation
Reasonable
protection, still
high on asset
creation
Higher
protection, still
high on asset
creation but
steadier
options,
increase
savings for
child
Flexibility Choose low
death benefit,
choose
growth/balanc
ed option for
asset creation
Increase death
benefit, choose
growth/balanc
ed option for
asset creation
Increase death
benefit, choose
balanced
option for
asset creation.
Choose riders
for enhanced
protection. Use
top-ups to
increase your
accumulation
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Kids going to
school, college
Higher studies for child,
marriage
Children independent,
nearing the golden years
Higher
Protection, high
on asset
creation but
steadier
options,
liquidity for
education
expenses
Lump sum money for
education, marriage.
Facility to stop premium
for 2-3 yrs for these
extra expenses
Safe accumulation for the
golden yrs.Considerably
lower life insurance as the
dependencies have
decreased
Withdrawal
from the
account for the
education
expenses of
the child
Withdrawal from the
account for higher
education/marriage
expenses of the child.
Premium holiday-to stop
premium for a period
without lapsing the policy
Decrease the death
benefit-reduce it to the
minimum possible. Choose
the income investment
option. Top-ups form the
accumulation (with
reduced expenses) for the
golden yrs cash
accumulation
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Because of their flexibility to adjust to different life stage needs, ULIPs fit
in very well with financial planning efforts.
Limitation:
1. It is prudent to make equity-oriented investments based on an
established track record of at least three years over different market
cycles. ULIPs may not fulfill this criterion in near future.
2. Insurance and savings are two different goals and it is better to
address them separately rather than bundle them into a single product. A
combination of a term plan and a mutual fund could give better results
over the long term.
3.The free hand given to ULIPs might prove risky if the timing of exit
happens to coincide with a bearish market phase, because of the
inherently high equity component of these schemes.
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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4. An initial allocation charge is deducted from investor premiums for
selling, marketing and broker commissions. These charges could be as
high as 65 per cent of the first year premiums. Premium allocation
charges are usually very high (5-65 per cent) in the first couple of years,
but taper off later. The high initial charges mainly go towards funding
agent commissions, which could be as high as 40 per cent of the initial
premium as per IRDA regulations.
The charges are higher for a linked plan than a non-linked plan, as the
former require lot more servicing than the latter, such as regular
disclosure of investments, switches, re-direction of premiums,
withdrawals, and so on. Insurance companies have the discretion to
structure their expenses structure whereas a mutual fund does not have
that luxury. The expense ratios in their case cannot exceed 2.5 per cent
for an equity plan and 2.25 per cent for a debt plan respectively. The lack
of regulation on the expense front works to the detriment of investors in
ULIPs.
5. The front-loading of charges does have an impact on overall returns as
investors lose out on the compounding benefit. Insurance companies
explain that charges get evened out over a long term. Thus investors are
forced to stay with the plan for a longer tenure to even out the effect of
initial charges as the shorter the tenure, the lower will be the investor real
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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returns.
6. In effect, when investor lock in their money in a ULIP, despite the
promise of flexibility and liquidity, investor will stuck with one fund
management style. This is all the more reason to look for an established
track record before committing investor hard-earned money.
7. Investor life cover charges would depend on the accumulation in
investor investment account. As accumulation increases, the amount at
risk for the insurance company decreases. However, with increasing age,
the cost per Rs 1,000 sum assured increases, effectively increasing policy
holder overall insurance costs.
8. It would deal with the fact that expenses on ULIPs were on the higher
side in the initial years and therefore; the exit option would hardly prove
to be beneficial for the investors.
9. ULIP face tough competition from mutual funds, which are short-term
instruments. Hence, a liquidity option makes ULIPs as attractive but
because of the high front-end charges on policy, investor may not be left
with much to withdraw at the end of 3 years.
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
28
Scope of the study:
The research was undertaken to gather information from the
respondent to know exactly how many people aware of ULIPs in Hubli city
and the study is restricted within the city.
The reason for confining the scope of the research in Hubli were.
2) One of the fast growing city in Karnataka and represents huge
market for scope with more than 90 lakhs people.
3) Hubli is one of the commercial areas .
4) It is a place where the small and large industries are located .with
the more increase population and there style more people are
conscious about the their lives.
Objectives:
1. To study the awareness level of Bajaj Allianz ULIPs with view
to recommend measure to improve market share.
2. To find vital communication media.
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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3. To know the factors that influence investors while taking
investment decisions.
4. To find potential market for ULIPs.
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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1. ORGANISATION PROFILE:
Bajaj Group
A STRONG INDIAN BRAND- HAMARA BAJAJ
One of the Largest 2 & 3 wheeler manufacturer in the world .
21 million + vehicles on the roads across the globe
managing funds of over Rs5200crore
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Bajaj Auto finance one of the largest auto finance companies in
India Rs5934cr turnover and profits after tax of 732cr in 2004-05
Bajaj group ,a Rs. 8,000 crore group ,a household name in India
with a strong brand image and brand loyalty.
Bajaj Group is synonymous with quality and customer focus.
Bajaj Auto is a Rs.4,000 crore auto giant.
4
th
largest in the world.
Has over 15,000 employees.
Allianz Group
Allianz Group is one of the world's leading insurers and
financial services providers
Founded in 1890 in Berlin,
Allianz is one of the leading global insurance companies
headquartered in Munich, Germany .
SAAB MARFIN MBA
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Allianz Unit Link Insurance Plan”
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Established in 1890 ,more than 110 years of experience in
insurance.
Allianz has over 700 subsidiaries and approximately 1,81,000
employees worldwide.
Allianz global network extends to over 70 countries in:
o Europe .
o South and Northern Americas.
o Africa.
o Middle East.
o Asia Pacific.
World largest insurance company by revenue 520353cr
worldwide 2
nd
gross written premium 477930cr
3
rd
largest assets under management(AUM) and largest insurance
companies AUM of Rs9594200cr.
11
th
largest corporation in the world
50% global business from life insurance close to 60 million lives
insured globally.
Allianz’ shares are treated at the 5 leading international stock
exchanges:
Frankfurt.
London .
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Paris.
Zurich.
New York.
Insurance to almost half of the Fortune 500 companies.
Bajaj Allianz life Insurance
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“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
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Bajaj Allianz life Insurance Company Limited is a joint venture between Bajaj Auto
Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and
strength.
Bajaj Allianz General Insurance received the Insurance Regulatory and
Development Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to
conduct General Insurance business (including Health Insurance business) in India. The
Company has an authorized and paid up capital of Rs 110 crores. Bajaj Auto holds 74%
and the remaining 26% is held by Allianz, AG, Germany.
Key Achievements in FY 2005-06 :
• No.1 Pvt Life Insurer FY 2006-06. Leading by Rs. 78 Cr.
• No.1 Pvt Life Insurer in Retail Business. Leading by Rs. 339 Cr.
• Whopping growth of 216% for the FY 2005-06
• Have sold over 13,00,000 policies to satisfied customers
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• Is backed by a network of 550 offices spanning the country
• Accelerated Growth
Fiscal Year No of policies sold in FY GWP in FY
2001-2002 (6mths) 21,376 Rs 7 cr.
2002-2003 1,15,965 Rs 69 cr.
2003-2004 1,86,443 Rs 221 cr.
2004-2005 2,88,189 Rs 1002 cr.
2005-2006 7,81,685 Rs 3134 cr.
Assets under management Rs 3,324 cr.
Shareholder capital base of Rs 500 cr.
Company punch line
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Allianz Unit Link Insurance Plan”
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Mission:
As a responsible customer focused market leader, we will strive
to understand the insurance needs of the consumers and translate it into
affordable products that deliver value for money.
Why Bajaj Allianz Life Insurance:
The Bajaj Allianz Difference
Business strategy aligned to clients’ needs and trends in Indian and
global economy / industry.
Internationally experienced core team, majority with local
background.
Fast, decentralized decision-making.
Long-term commitment to market and clients.
Shareholder in Bajaj Allianz life insurance company:
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Bajaj Auto Limited
Bajaj Auto Limited is the largest manufacturer of two and three –wheelers
in India and also one of the largest manufacturers in the world. Bajaj Auto
has been in operation for over 55 years. As a promoter of Bajaj Allianz
General Insurance Company Ltd., Bajaj Auto has the following to offer.
Vast distribution network.
Knowledge of Indian consumers.
Financial strength and stability to support the insurance business.
CHANNEL PARTNERS
Bancassurance Vantage
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UNIT LINKED INSURANCE PLAN OR MARKET LINKED
INSURANCE PLAN (ULIP).
INTRODUCTION TO ULIP
ULIP came into play in the 1960s and became very popular in Western
Europe and Americas. The reason that is attributed to the wide spread
popularity of ULIP is because of the transparency and the flexibility which
it offers. As times progressed the plans were also successfully mapped
along with life insurance need to retirement planning. In today’s times,
ULIP provides solutions for insurance planning, financial needs, financial
planning for children’s future and retirement planning. Features of ULIP
distinguish itself through the multiple benefits that it provides to the
consumer. The plan is a one-stop solution providing: Life protection·
Investment and Savings· Flexibility- Adjustable Life Cover- Investment
Options· Transparency· Options to take additional cover against- Death
due to accident- Disability- Critical Illness- Surgeries· Liquidity.
ULIP distinguishes itself through the multiple benefits it provides to the
policyholders. These plans are designed with a view to help the
customers to utilize the market opportunities by investing in the share
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market, capital market and at the same time have the facility of Death
Benefit and Maturity Benefit.
Meaning
It is a plan, which provides Life Insurance, and here policy value at any
time varies according to the value of the underlying asset at that time.
It is a plan that provides the client with the benefit of protection and
flexibility.
An ULIP plan works as a one-stop advantage for the policyholder. It gives
the policyholder a wholesome advantage of integrated financial planning.
STRUCTURE OF ULIP: -
ULIP
CONTRIBUTION
LESS- CHARGES
LIFE COVER
INVESTMENT
REPRESENTED AS
NAV
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NAV CONCEPT
It exhibits the value (or the price) that one has for his investment or one
will have to pay for his investment.
As, the investment made by different people are different, the value (or
the price) is the expressed in per unit terms. It helps in knowing the value
of Insurance at any point of time.
Technical Calculation of NAV: -
UNIT Value = (Total market Value of all assets invested less expenses
related
to Investment management / Total no. of outstanding
units)
Factors affecting NAV:
Market Value of investment portfolio, Number of Units, Expenses and
Investment Income.
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Ex: If 2,00,000 /- has been accumulated in the equity fund and the no. of
units issued is 10,000 /- then the NAV of the equity fund is: -
2,00,000 / 10,000 = Rs 20 / -
As the equity market develop the fund grows from 2,00,000 / - to
220,000/-
Now the NAV = 2,20,000 / 10,000 = Rs 22 / -
If among these 10,000 units the policyholder has 5000 units then the
value of investment as of now is Rs 1,10,000.
Thus a unit linked plan actually tells, what is the value of the fund
.BASIC FEATURES OF ULIP
1. Life protection
2. Investment and savings
3. Flexibility
4. Transparency
5. Added Benefits
a) Death due to accident
b) Any kind of disability
c) Critical illness
d) Surgeries
6. Liquidity
7. Tax Planning
8. Adjustable Life Cover
9. - Investment Options
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-
1) LIFE PROTECTION
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The graph shows the various needs of the customer at different
point of time, individuals needs differ and his need for life
protection fluctuates. ULIP satisfies the varying needs of the
customer providing him with more and more protection as and
when he requires, by allowing the policyholder to increase or
decrease the death benefit.
It is usually multiple of the contribution being paid, which ensure
that the contribution is adequate enough to provide life protection.
And is also able to maintain a sem balance between protection and
savings.
2) INVESTMENTS AND SAVINGS
ULIP provides the client with option of investing as per his risk
appetite and gets returns accordingly. These various options
available for an individual to make investment in comparatively
high risks instruments and get high returns. Below shown is a
graph illustrating the various investment options for a client.
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Risk
Example 1: Here are four types of funds in which a client can invest.
In each case the risk goes on increasing with the type of fund. The
client has an option to shift as the risk and return orientation
changes (Switch).
3) FLEXIBILITY
The client has an option to choose the amount of sum assured and
the premium amount he is capable of paying. In case of certain
plans of ULIP the client is allowed to choose the premium.
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Eg: Lifetime and Lifetime I the client has a flexibility to decide the
life cover according to his financial needs, independent of premium
selected.
Following points enumerate the flexibility feature of ULIP
a) Increase in death benefit.
As life cycle changes of a client he passes through various
risks and responsibilities. He can increase or decrease the
death benefit accordingly.
b) Decrease in death benefit.
If the client is unable to pay the same amount of premium he
can decrease the death benefit with certain conditions
applying according to the particular plans.
c) Premium holiday
After paying the premium regularly for 3 years from the
starting date of the policy the client can take a premium
holiday if he is unable to pay a particular premium due. On
returning from the premium holiday the client can pay the
previous premiums if he desires or continue from that date.
d) Choice of fund.
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There are four kinds of funds available for a client of ULIP. He
has an option to switch between these four funds. He can
either choose only one or invest in all four depending on his
risk tolerance.
Plan Plan objective Risk Investment pattern
Maximiser
(Growth)
High growth and
capital
appreciation over
a long terms
High Equity and equity
related securities:
Max 90%, Debt,
money market and
cash: Min 10%
Balancer
(balanced)
Balance of capital
appreciation and
study returns
over a long
terms
Average Equity and equity
related securities:
Max 40%, Debt,
money market and
cash: Min 60%
Preserver Equal balance of
capital
appreciation and
study returns
over a long term
Low Debt instrument:
Max 50%
Money market and
cash: Min 50%
Protector
(Income)
Study returns
over a long term.
Moderate Debt instrument:
Max 100%
Money market and
cash: Max 25%
e) Switch between the funds
The policyholder has a choice two reallocate the premium
paid by him on every premium policy anniversary. He can
switch between the above four funds to avail the advantages
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of market fluctuations.
f) Top ups
Some times the client may have surplus amount after his
expenses. ULIP allows him to save that amount by investing
in the insurance he can avail the benefit of top up by paying
extra premium, which will be invested in the share market by
the insurer company. The client gets expert fund
management. The policyholder is allowed to do as many top
ups in the tenure of plan.
g) Premium redirection
The policyholder is allowed to reallocate the premium paid
each time to different fund structure. Thus whenever the
premium is due (As per the premium payment mode), he can
redirect the current premium into different asset allocations
than the previous time. This helps the policyholder to
optimize the funds in accordance to market with out using
the switch option.
e) Assignment option
The policyholder can assign the policy to any of the nominees or
any bank in case he has taken a loan on the title of the policy.
Unfortunately if something happens to the policyholder then the
insurer will repay the loan taken by the client to the extent of
premium paid.
4) Transparency
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ULIP products are transparent in terms of, the policyholder is aware
of where his contribution is being allocated. The policyholder is
aware of the various charges charged to him.
The Various charges of the ULIP are: -
a) Contribution related Charges- Running expenses of the policy
b) Administrative Charges- Issuance cost, distribution costs etc
c) Fund Management Fee- cost of being and selling the various
financial instruments for various funds.
d) Mortality Charges: cost of providing life protection.
e) Rider charges: cost of other protection charges.
f) Surrender charges: cost to cover initial expenses.
g) Bid offer charges: difference between the offer price of units and
the selling price i.e. bid price of units. It covers the cost of
selling the policy.
h) Transaction specific charges: cost of changing funds, toping up
the investment component or withdrawals
Daily NAV: A feature that lets us know on a daily bases, how the
money in insurance plan is growing.
5) ADDED BENEFITS
To get extra protection ULIP provides the policyholder the
advantage of rider attachments.
a. Death due to accident (ADBR)
b. Disability (ABR)
c. Critical Illness (CIBR)
d. Surgeries (MSAR) (Now discontinued)
6) LIQUIDITY
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The feature makes ULIP a marketable plan. The policyholder has an
option of withdrawals in case if need arises. ULIP provides easy
access to the money as and when the policyholder may requires.
There are two types of withdrawal options.
a) Partial b) complete
The value of withdrawal reduces the death benefit by same amount.
This facility can be avail only after three full premium payment
years are completed. The minimum worth of this units and a
maximum where in at least Rs. 10000/- worth units remain in all
the funds put together.
7) TAX PLANNING
This is another feature of ULIP that motives the policyholder to
invest in the insurance plans. They usually invest to avail the tax
benefit. Regulation in India allows tax benefits in the contribution
paid under section 88, contribution paid for health riders critical
illness and major surgical is allowed tax benefits under section 80D,
as per the prevailing tax laws.
Maturity benefits are tax free under section 10(10) D, provided life
come is at least 5 times of the annual contribution paid.
Death benefit is tax free under section 10(10) d.
With so many tax benefits available in one instrument ULIP tends to
be an intelligent tax-planning tool.
Working of a ULIP Plan
Life rime regular Premium
Allocated
Premium
Part of the
Premium towards
Allotment of
Units
Insurance
Charges
This goes
to the
Protectio
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For Example
A client put in regular contribution of Rs.20, 000 /-. From this amount
a % is deducted as contribution.
Therefore if the contribution related expense is 40% - Rs.8000/- will be
deducted as contribution charges.
The amount that is now available is Rs.20000-8000=12000/-
Now, if the client who is available is aged 30 years were to take a life
cover of 500,000/- then mortality (1.50/- per thousand at the age of 30)
charge of 750 /- will be deducted.
This amount will provide life cover to the policy. The remaining amount
of –11250/- will be invested in any one of them or all of them.
The Investment is shown in terms of units. Thus if client invests in debt
fund and the NAV of the debt fund is Rs. 15/-(market price) then the no.
of units that the client will get is 11,250/15=750. For this
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investment-fund management fee will be charged and the charges for
maintaining the policy an administrative charge are levied.
Are ULIPs similar to mutual funds?.
In structure, yes; in objective, no. Because of the high
first-year charges, mutual funds are a better option if you have a
five-year horizon.
But if you have a horizon of 10 years or more , then ULIPs
have an edge. To explain this further a ULIP has high first –year
charges towards acquisition (including agents commissions).
As a result, they find it difficult to outperform mutual funds in
the five years. But in the long term, ULIP managers have advantages
over mutual funds managers.
Since policyholder premium come at regular intervals, investments can
be planned out more evenly.
Mutual fund managers cannot take a similar long term view
because they have bulk investors who can move money in and out of
schemes at short notice.
Which is better, unit-linked or ‘Traditional plan’?
The two strong arguments in favor of unit-linked plans are that
–the investor knows exactly what is happening to his money and
two ,it allows the investor to choose the assets into which he wants his
funds invested.
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A traditional ‘with profits,’ on the other hands, is a black box and
a policyholder has little knowledge of what is happening. An investor
in a ULIP knows how much he is paying towards mortality,
management and administration charges.
He also knows where the insurance company has invested the money.
The investor gets exactly the same returns that the fund earns, but he
also bears the investment risk. The transparency makes the product
more competitive .So if you are willing to bare the investment risk in
order to generate a higher return on your retirement funds, ULIPs are
for you.
Traditional ‘with profits’ policies too invest in the market and
generate the same
Returns prevailing in the marker. But here the insurance company
evens out returns to ensure that policyholders do not lose money in a
bad year. In that sense they are safer. ULIPs also offer flexibility. For
instance, a policyholder can ask the insurance
Company to liquidate units in his account to meet the mortality
charges if he is unable to pay any premium installment.
This eats into his savings, but ensures that the policy will
continue to cover his life.
Why do insurers prefer ULIPs?
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Insurers love ULIPs for several reasons. Most important of all,
insurers can sell these policies with less capital of their own than what
would be required if they sold traditional policies.
In traditional ‘with profits’ policies, the insurance company bears
the investment risk to the extent of the assured amount .In ULIPs, the
policyholder bears most of the investment risk.
Since ULIPs are devised to mobilize savings, they give insurance
companies an opportunity to get a large chunk of the asset
management business, which has been traditionally dominated by
mutual funds.
Are unit-linked insurance plans good?
Most insurers in the year 2004 have started offering at least a
few unit-linked plans . Unit-linked life insurance products are those
where the benefits are expressed in terms of number of units and unit
price. They can be viewed as a combination of insurance and mutual
funds.
The number of units that a customer would get would depend
on the unit price when he pays his premium. The daily unit price is
based on the market value of the underlying assets (equities, bonds,
government securities, etc) and computed from the net asset value.
The advantage of unit –linked plans is that they arte simple,
clear, and easy to understand. Being transparent the policyholder gets
the entire upside on the performance of his fund .Besides all the
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advantages they offer to the customers, unit-linked plans also lead to
an efficient utilization of capital.
Unit –linked products are exempted from tax and they provide
life insurance. Investor welcome these products as they provide capital
appreciation even as the yields on government securities have fallen
below 6 percent , which has made the insurers slash payouts.
According to the IRDA, a company offering unit-linked plans
must give the investor an option to choose among debt, balanced and
equity funds. If you opt for a unit-linked endowment policy, you can
choose to invest your premiums in debt, balanced or equity plans.
If you choose a debt plan, the majority of your premiums will
get invested in debt securities like gilts and bonds. If you choose
equity, then a major portion of your premiums will be invested in the
equity market. The plan you choose would depend on your risk profile
and your investment needs.
The ideal time to buy a unit-linked plan is when one can
expect long term growth ahead . This is especially so if
one also believes that current market values (stock valuations ) are
relatively low.
So if you are opting for a plan that invests primarily in equity , the
buzzing market could lead to windfall returns. However , should the buzz
die down , investors could be left stung.
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If one invests in a unit-linked pension plan early on , say when
one is 25, one can afford to take the risk associated with equities , at
least in the plan’s initial stages. However ,as one approaches retirement
the quantum of returns should be subordinated to capital preservation.
At this stage , investing in plan that has an equity tilt may not be a good
idea.
Considering that unit-linked plans are relatively new launches, their
short history does not permit an assessment of how they will perform in
different phases of the stock market. Even if one views insurance as a
long term commitment, investments based on performance over such a
short time span may not be appropriate.
Allianz Bajaj launches its first unit linked policy.
Allianz Bajaj Life Insurance Company has launched Unit Gain , the
company’s first unit linked policy. Unit Gain allows customers to combine
the benefits of life insurance with higher investment returns from equity
and debt markets.
Unit Gain was launched with a choice of four funds to the
customer- equity, debt, balanced and cash funds. The cash funds comes
with the guarantee that the value of units in the fund will not go down.
Unit Gain is one of the most flexible unit linked plans in the market,
and allows the customer to change the sum assured during the term of
the policy to match their changing life insurance requirements. Also the
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plan offers a premium holiday feature, where the policy is kept in-force
even when premiums are not paid as long as there are enough units to
cover charges.
The policy provides customers flexibility in paying additional
premium through single premium top-ups, as well as in increasing the
level of regular premium in later years (along with increase in income). In
addition, the facility of cash withdrawals allows the Bajaj Allianz ULIP’S
products.
Bajaj Allianz ULIP’S products:
1) Unit Gain Regular Premium:
The Bajaj Allianz unit comes with a host of features to allow you to
have the best of all words –protection and investment with flexibility like
never before.
Some of the features of this plan are:
Guaranteed death benefits.
Choice of 6 investment funds with flexible investment management
you can change funds at any time.
Attractive investment alternative to fixed investment securities.
Provision for full/partial withdrawal any time after 3 full years
premiums are paid.
Unmatched flexibility –to match tour charging needs.
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How does the plan work:
The premiums paid are invested in fund/funds of your choice
(depending on the allocation rate) &unit are allocated depending on the
price of units for the fund/funds.
The value of your policy is the value of units that you hold in the
fund/funds. The insurance cover charges are deducted through monthly
cancellation of units . The funds administration charge and fund
management charge are priced in the unit value.
Minimum sum assured= 5 times the annual premium.
Maximum sum assured =y times the annual premium where y will be
as per the following table.
Age
Group
0-30 31-35 36-40 41-45 46-55 56-60
Y 125 105 75 55 30 20
Important details of “Bajaj allianz unit gain RP” plan
Minimum age at entry: 0(risk commences at age 7, and ceases after
age 70)
Maximum age at entry :60
The minimum age at entry for all additional benefits is 18 years.
The maximum age at entry for all additional benefits is 50 years.
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All additional benefits are available till age 65.
2) Unit Gain Single Premium:
The bajaj allianz unit gain SP comes with a host of features to
allow you to have the best of all worlds- protection and investment
with flexibility like never before.
Some of the feature of this plan are
Convenient single premium payment, with option to pay top-ups later.
100% of the single premium/top ups are allocated.
Guaranteed death benefits.
Choice of 6 investment funds with flexible investment management you
can with between funds at any time .
Attractive investment alternative to fixed interest securities.
Provision for full/partial withdrawal any time after the single premium is
paid.
Unmatched flexibility – to match your changing needs.
How does the plan works?
100% of the single premium is invested in a fund/funds. The
value of your choice and unit are allocated depending on the price of
units for the fund/funds the value of your policy is the total value of units
that you hold in the fund/funds . The insurance cover changes are
deducted through monthly cancellation of units. The funds
administration charge and fund management charge are pried in the unit
value.
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Minimum sum assured =1.01 times the single premium.
Maximum sum assures =y times the single premium where y will
be as per the following table.
Age
Group
0-30 31-35 36-40 41-45 46-60 61-67
Y 45 40 25 15 5 1.01
Important details of the “Bajaj allianz unit gain SP” plan:-
Minimum age at entry :0(risk commences at age 7, and ceases
after age 70)
Maximum age at entry :67
Minimum single premium :Rs .25000.
Minimum top-up :Rs 10000.
3) Unit Gain Plus Regular Plan:
The Bajaj allianz unit gain plus RP comes with a host of
features to allow you to have the best of all words – protection and
investment with flexibility like never before.
Some of the key feature of this plan are
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Guaranteed death benefit.
Choice of six investment funds with flexible investment
management you can change funds at any time .
Attractive investment alternative to fixed –interest securities.
Provision for full/partial withdrawals any time after 3 full years
premium are paid
Unmatched flexibility –to match changing needs.
How does the plan work?
The premium paid are invested in a fund or funds of your
choice (depending on the allocation rate) and units are allocated
depending on the price of the units for the fund or funds.
The insurance cover and administration charges are deducted through
cancellation of units. The fund management charge is prices in the
unit value.
Minimum sum assured = 5 times the annual premium.
Maximum sum assured = y times the annual premium where y
will be as per the following table.
Age
Group
0-30 31-35 36-40 41-45 46-55 56-60
Y 125 90 60 40 20 15
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Important details of the “Bajaj Allianz Unit Gain Plus RP” plan
Minimum age at entry :0(Risk commences at age 7 and ceases after
age 70)
Maximum age at entry :60
Minimum age at entry for all additional benefits is 18 years.
The maximum age at entry for additional benefits is 50 years.
All additional benefits are available till age 65.
4) Unit Gain Plus Single Premium Plan:
The bajaj allianz unit gain plus Sp comes with a host of feature to
allow you to have the best of all words – protection and investment with
flexibility like never before.
Some of the key feature of this plan are
Convenient single premium payment, with option to pay top-ups
later.
98% of the single or top-ups are allocated.
Guaranteed death benefit.
Choice of five investment funds with flexible investment
management you can change funds at any time.
Attractive investment alternative to fixed –interest securities.
Unmatched flexibility – to match your changing needs.
Provision for full or partial withdrawal any time after the single
premium is paid.
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How does the plan works ?
98% of the single premium is invested in a funds or funds of
your choice and units allocated depending on the price of units for the
fund or funds . The value of your policy is the total value of units that
you hold in the fund or funds. The insurance cover and fund
administration charges are deducted through cancellation of units.
The funds management charge is priced in the unit value.
Minimum assured =1.01 times the single premium.
Maximum sum assured = y times the single premium where y
will be as the following table.
Age
Group
0-30 31-35 36-40 41-45 46-60 61-69
Y 45 35 20 10 5 1.5
Important details of the “Bajaj Allianz Unit Gain Plus SP” Plan
Minimum age at entry :0(Risk commence at age 7,and ceases after
age 70)
Maximum age at entry :69
Minimum single premium :Rs. 25000.
Minimum top-up :Rs .5000.
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5)Unit Gain Life Pension plan:
With Bajaj Allianz ,you can take control of your future and ensure
a retirement you can look forward to. This plan has been be signed to
take of your retirement and insurance needs, there by providing you with
a comprehensive solution for life time.
There are two packages choose from:
1. Unit gain life pension regular premium.
2. Unit gain life pension single premium.
Defending on the amount of premium you want to pay, you choose sum
assure as per the condition given below:
1. Minimum sum assured =5 times annual/1.01 times single premium.
2. maximum sum assured =y times the annual/single premium where
y will be as per the following table:
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How does the Bajaj Allianz Unit Gain Life Pension Plan Work?
The premium paid are invested in funds of your choice
(depending on the allocation rate) and unit are allocated depending on
the price of unit for the fund or funds. The value of your policy is the
total value of units that hold in the fund or funds. The insurance cover
and administration charges are deducted through cancellation of units.
The fund management charge is priced in the unit value.
Important details of the “Bajaj Allianz Unit Gain Life Pension” Plan:
Minimum Maximum
Age of entry 18 65
Deferment period 5 40
Age at vesting 45 70
Age
group
18-30 31-35 36-40 41-45 46-55 55-60 61-65
Y for
regular
premium
125 90 60 40 20 15 10
Y for
regular
premium
45 35 20 10 5 5 1.5
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6) Unit Gain Easy Pension Plan:
With bajaj allianz , you can take control of your future and ensure a
retirement you can look for word to. There are two packages to choose
form:
1. Unit gain easy pension regular premium.
2. Unit gain easy pension single premium.
How does the Bajaj Allianz Unit Gain Easy Pension Plan works?
The premium paid are invested in a fund/funds of your choice
(depending on the allocation rate) and units are allocated depending on
the price of units for fund/funds. The value of your policy is the total
value of units that you hold in the fund/funds. The administration are
deducted through cancellation of units. The fund management is priced
in the unit’s value.
Important details of “Bajaj Allianz Unit Gain Life Pension” Plan:
Minimum Maximum
Age of entry 18 65
Deferment period 5 40
Age at vesting 45 70
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ORGANISATION CHART
2.ORGANISATION CHART
Bajaj Allianz Life Insurance Company Bajaj Allianz Life
Insurance
Agency Channel Bancassurance Group and Alternate
Channel
Branches Standard Chartered
Bank
Group Employee Benefit
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
68
ORGANISATION CHART OF THE BRANCH
BAJAJ ALLIANZ LIFE INSURANCE
CHANNEL
ZONAL SENIOR MANAGER
BRANCH
BANC ASSURANCE CORPORATE
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
69
3. SAMPLING:
Sampling: we are taken random sample
Sample size: 100 consumers
Sample unit: collection of data was made from customer that is
respondents
4. RESEARCH DESIGN:
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
70
The research design chosen was exploratory in nature as it
involved effectives study to determine the awareness of ULIPs and its
products since the population in Hubli city is very vast. It is difficult to
carry out 100% with in a limited time period. Hence sample survey
technique was adopted for the study. Fieldwork was carried out to collect
the necessary data (through schedule questions /personal interview ).
5. DATA COLLECTION METHODS:
a) Primary data :
A structural interview schedule/ questionnaire was
used as a tool for primary data collection from respondent.
b) Secondary data:
Books Journals, magazines and websites.
6.MEASURING TOOLS:
Data code sheet
S/no Q1 Q2 Q3 Q4 Q5 Q6 Q7 Q8 Q9 Q10 Q11 Q12 Q13
1 D H A A A A D E A B A -
2 C E D A A B B D D C B B D
3 D G D A A C C D B A D B D
4 C H D A A D C C C B B A
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
71
5 D E D A A A A C B D A -
6 A A D A A A A B B A A -
7 C E A A B A B B A
8 D C A A B F B A
9 D B E B A B A A
10 C B B B B A A
11 D D D B B A B A
12 C B A A A A A C A A
13 B B B A B B B C E A
14 D B B B B A A
15 D G D A A A C C A B C
16 D E B A B A A B A A A
17 D E A A B A E B A A B D
18 C C E A A A B B A B C
19 C C E A A C C A A F B A
20 C B B B B A B A A B A
21 C B C A A A D B A A A
22 B H E A A B C B A A A
23 D H E A A B C A B A B C
24 D E E A A D C A B A A
25 D E B A A A C B D C B D
26 D H E A A B C D D B D A
27 C E E A A B D A B A A
28 A H A A A B C D A A B A
29 D E D A A B C A C F B D
30 D E E A B D C C D B E
31 A G E A A C D B B A A
32 D E A B B F B A
33 C A B A A C B A A A
34 D E E A A A B B A A A
35 D C D A A B E C A F A
36 D B B B B B A
37 D F B B B A B B
38 D E D A B A B A B A
39 D B B A B D E B A B B B
40 D B A B B A B A
41 D B B B A D E E B C A
42 D F A A B A C A A B C
43 D F E B B C F A
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
72
44 D E B A A A E D C A A B A
45 D H C A B C E B C F B C
46 A H E A B A A A C B D
47 B B D B B D B A
48 C G E A A D A B A D A
49 B D B A B A A A A B A
50 B E B A B C A B A A B A
51 C E D A B A A A A D B A
52 A E B A B A B B A B B A
53 C G D A A B B B A A A
54 B D A A B A A B B F A
55 D G B B B A A
56 D B A A A A B C B A A
57 C C D B B B B C
58 D E E A B A A A A C A
59 C A A A A A A C C A A
60 B D D A B A C C A D A
61 D B A B B A A
62 D B B B A D A A
63 C E B A B A A A D B B
64 D A B A A C A C A A A
65 B D A B A A B A
66 C H E A A A B B C B B A
67 A D E A A A C B D A
68 C F E A B A A A A B A
69 D D B B B A B A
70 C A B A B A A A B B A
71 D B A A B A C A A A
72 C A B A A A B C A A B A
73 D B B B B A B B
74 D A D B B A B A
75 C D B A A B B A A A A
76 D E A A A B A B B B
77 B B C A A B D C B D A
78 C D B A A A D C C D B C
79 A H E A A A C E B B A
80 C B C A A A B B B A A
81 A D E B B A A
82 C A B A A B B D A C B B D
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
73
83 C H C A A A D B C F A
84 D A D A A B B A B A B C
85 B E E B A A B A
86 C C C A B A A C C A
87 D D B B A A B B A
88 C D B A A A B A B A A
89 D F A A A B B D A D C B D
90 C H E A A B A B B A A
91 B B C B B B A D
92 A D B A B A E B D A
93 B G A A A D B B A B A
94 D A C A B A B A A B A
95 D C E B A A A B D
96 C H E A A C B D A D B A
97 D E A A B A A A A B D
98 D E D A B D B A C B A
99 C G D A A A E B A B B D
100 B C A A A D C B A D A
SAAB MARFIN MBA
“A study on customer awareness to enhance market share of Bajaj
Allianz Unit Link Insurance Plan”
74
1.What is your ratio of saving of the total income?
a) More then 60% b) 60% - 50%
c) 50% - 25% d) Less then 25%
> 60% 9%
60%-50% 13%
50%-25% 31%