Description
Study on Insurance Distribution As An Additional Business Opportunity At Kotak Life Insurance
A STUDY ON INSURANCE DISTRIBUTION AS AN ADDITIONAL
BUSINESS OPPORTUNITY AT KOTAK LIFE INSURANCE WITH
SPECIAL EMPHASIS ON FINANCIAL DISTRIBUTORS IN COCHIN
PROJECT REPORT
Submitted by
ANISH KUMAR P
(REG.NO.07 BA 193)
Submitted in partial fulfillment of the requirements for the award for
the degree of
MASTER OF BUSINESS ADMINISTRATION (M.B.A)
of Karunya University,Coimbatore
Karunya Sc!!" !# Mana$%&%n'
Karunya University
Coimbatore 641 114
2!"2#
CERTIFICATE
$his is to %ertify that the pro&e%t entitled, “A S'u(y On
In)uranc% D*)'r*+u'*!n A) An A((*'*!na" Bu)*n%))
O,,!r'un*'y A' K!'a- L*#% In)uranc% . 'one by Mr. ANISH
KUMAR P , ()*+S$)( ,-/ 01BA234, and is submitted in partial
fulfillment of the requirements for the degree of .aster of /usiness
0dministration of Karunya University1
Dr.J.Reeves Wesley Mrs.Sumitha Anand
(Head of School) (Faculty Guide)
lace!
Date!
"iva#"oce $%amination held on&&&&&&
&&&&&&&&&&. &&&&&&&&..
'nternal $%aminer $%ternal
DECLARATION
+, .r10nish Kumar 2 hereby de%lare that the pro&e%t wor3 entitled 4a )'u(y
!n *n)uranc% (*)'r*+u'*!n a) an a((*'*!na" +u)*n%)) !,,!r'un*'y. with
spe%ial referen%e to %o%hin %ity at Kota3 5ife +nsuran%e is a bonafide re%ord of
wor3 done by me in partial fulfillment of the requirements for the award of the
degree of .aster of /usiness 0dministration of Karunya University under the
guidan%e of .rs1Sumitha 0nand, 5e%turer,'epartment of .anagement S%ien%es,
Karunya S%hool of .anagement, Coimbatore, during the a%ademi% year 2!"
2#, and it has not either wholly or in part, been submitted for any degree or
'iploma %ourses1
0,+S6 KU.0( 2
ACKNOWLED5EMENT
+ than3 the 75ord 0lmighty8 for the gra%ious ama9ing and wonderful ways
in whi%h 76e8 has helped me and strengthened me through every little step of the
mini pro&e%t wor3 + have ta3en1
+ ta3e this opportunity to pla%e on re%ord my sin%ere than3s to 'r1 (eeves
:essely, 6-' for providing all the fa%ilities in the department to %omplete the
pro&e%t su%%essfully1
+ would li3e to e;tend my gratitude to .s1 Sumitha 0nand, 5e%turer of ./0
department for the help and guidan%e offered to me for the su%%essful %ompletion
of this mini pro&e%t wor31
.y heartfelt than3s to my Company *uide .r1'ayesh .enon, $erritory
.anager for his %ountenan%e, towards the su%%essful a%%omplishment of my mini
pro&e%t1
+ e;press my heartiest than3s to all the employees of the %ompany and also to
my friends and well"wishers who have helped in one way or other for the
su%%essful %ompletion of this pro&e%t1
0t last but not least, it will be highly unethi%al if negle%ted to
a%3nowledge all %ustomers and those people who e;tended their whole hearted
%o"operation1
CONTENTS
S". N! TOPIC Pa$% N!
1 );e%utive Summary "
2 +ntrodu%tion 1
< $heoreti%al perspe%tive =
4 -b&e%tive of the study !
= (esear%h methodology >
6 +ndustry profile 11
! Company profile 14
> 0nalysis and +nterpretation 1!
# ?indings 2#
1 Suggestions <1
11 5imitations of Study <2
12 Con%lusion <<
E6ECUTI7E SUMMARY
$he study was %ondu%ted as a part of ./0 %urri%ulum of Karunya
University1 $he topi% sele%ted for the study was 4+nsuran%e distribution as an
additional business opportunity@1 $he study was %ondu%ted on a population
%onsisting finan%ial distributors from various pla%es in Co%hin %ity1
$he resear%her used questionnaire and %olle%ted data from distributors
through personal interview method1 $he %olle%ted data8s were analysed and
represented with the help of tables and %harts1
/ased on the findings from the study the resear%her has given his
suggestions and re%ommendations to the management in the form of a report1
LIST OF TABLES
Sl. No Topic
(
$able showing whether the respondents are asso%iated with Kota3
.ahindra *roup
)
$able showing whether the respondents have ta3en life insuran%e
poli%ies
*
$able showing whether the respondents are aware of the potential of
life insuran%e industry in +ndia1
+
$able showing whether the respondents thin3 that insuran%e is a good
investment plan
,
$able showing whether the respondents have %onsidered selling
insuran%e as an additional business option
-
$able showing whether the respondents are dealing with or selling life
insuran%e produ%ts of any %ompany
.
$able showing whether the respondents 3now that they %an earn upto
4A of the first year premium as %ommission
/
$able showing whether the respondents have heard of Kota3 6ead
Start, ,o11 %hild plan rated by Boutloo3 moneyB
0
$able showing whether the respondents have heard about Kota3 Safe
+nvestment plan, whi%h invests upto >A of the fund in equity mar3et,
still giving %apital guarantee
(1
$able showing whether the respondents 3now about the earning
potential by selling life insuran%e produ%ts
((
$able showing whether the respondents 3now that there is no %apital
requirement for starting insuran%e distribution
()
$able showing whether the respondents li3e to asso%iate with Kota3
5ife +nsuran%e
LIST OF CHARTS
Sl. No Topic
(
Chart showing whether the respondents are asso%iated with Kota3
.ahindra *roup
)
Chart showing whether the respondents have ta3en life insuran%e
poli%ies
*
Chart showing whether the respondents are aware of the potential of
life insuran%e industry in +ndia1
+
Chart showing whether the respondents thin3 that insuran%e is a good
investment plan
,
Chart showing whether the respondents have %onsidered selling
insuran%e as an additional business option
-
Chart showing whether the respondents are dealing with or selling life
insuran%e produ%ts of any %ompany
.
Chart showing whether the respondents 3now that they %an earn upto
4A of the first year premium as %ommission
/
Chart showing whether the respondents have heard of Kota3 6ead
Start, ,o11 %hild plan rated by Boutloo3 moneyB
0
Chart showing whether the respondents have heard about Kota3 Safe
+nvestment plan, whi%h invests upto >A of the fund in equity mar3et,
still giving %apital guarantee
(1
Chart showing whether the respondents 3now about the earning
potential by selling life insuran%e produ%ts
((
Chart showing whether the respondents 3now that there is no %apital
requirement for starting insuran%e distribution
()
Chart showing whether the respondents li3e to asso%iate with Kota3
5ife +nsuran%e
KOTAK 5ROUP COMPANIES
Kota3 .ahindra *roup is mainly into finan%ial servi%es whi%h en%ompass
insuran%e, mutual funds, ban3ing, investments and other a%tivities of similar
nature1 $hese various finan%ial servi%e a%tivities have been %ontrolled by different
subsidiary of Kota3 .ahindra group1 $he group %ompanies and respe%tive
a%tivities are given belowC
KOTAK MAHINDRA 5ROUP
? KOTAK MAHINDRA BANK LTD
$he Kota3 .ahindra ?inan%e 5td established in 1#>= whi%h is Kota3 .ahindra
*roup8s flagship %ompany got %onverted into a ban3 4Kota3 .ahindra /an3@ in
.ar%h 2<1 +t is the first +ndian %ompany to %onvert into a ban31 +ts ban3ing
operations offer a %entral platform for %ustomer relationships a%ross the groups
various businesses1 $he ban3 has a presen%e in the %ommer%ial vehi%les, retail
finan%e, %orporate ban3ing, treasury and housing finan%e1
? KOTAK MAHINDRA CAPITAL COMPANY
$he Kota3 .ahindra Capital Company 5td is 3nown as +ndia8s premier
+nvestment ban3 and a primary dealer whi%h is approved by the (/+1 K.CC8s
%ore business areas in%lude private equity, insuran%e, mergers and a%quisitions,
stru%tured finan%e and advisory servi%es, fi;ed in%ome se%urities and prin%ipal
business1
? KOTAK SECURITIES
Kota3 Se%urities 5td is one of +ndia8s largest bro3erage and se%urities distribution
house in +ndia1 +t has been one of the leading investment bro3ing houses %atering
to the needs of both institutional and non institutional investor %ategories with its
presen%e all over the %ountry through fran%hises and %oordinators1 Kota3
Se%urities 5td offers both online and offline servi%es whi%h is based on well
resear%hed e;pertise and finan%ial produ%ts to the non institutional investors1
? KOTAK MAHINDRA PRIME
Kota3 .ahindra 2rime 5td is formerly 3nown as Kota3 .ahindra 2rimus 5td1 +t
has been formed with the ob&e%tive of finan%ing the retail and wholesale trade of
passenger and multi utility vehi%les in +ndia1 Kota3 .ahindra 2rime offers
%ustomers retail finan%e for both new as well as used %ars and wholesale finan%e
to dealers in the automobile trade1
? KOTAK MAHINDRA ASSET MANA5EMENT COMPANY
Kota3 .ahindra 0sset .anagement Company is a subsidiary of Kota3 .ahindra
/an31 +t is the asset manager for Kota3 .ahindra .utual ?unds1 K..? manages
funds in e;%ess of (s 11 %rores and offers s%hemes %atering to investors with
various ris3 return profiles1 +t is the first fund house in the %ountry to laun%h a
dedi%ated gilt s%heme investing only in government se%urities1
? KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD
Kota3 .ahindra -ld .utual 5ife +nsuran%e 5td is a &oint venture between K./
5$' and -ld .utual 2l%1 Kota3 5ife +nsuran%e help %ustomers to ta3e important
finan%ial de%isions at every stage in life offering them a wide range of innovative
life insuran%e produ%ts, to ma3e them finan%ially independent1
INDIAN LIE INSURAN!E INDUSTR" O#ER#IE$
0ll life insuran%e %ompanies in +ndia have to %omply with the stri%t
regulations laid out by +nsuran%e (egulatory and 'evelopment 0uthority of +ndia
D+('0E1 $herefore there is no ris3 in going in for private insuran%e players1 +n
terms of being rated for finan%ial strength li3e international players, only +C+C+
2rudential is rated by ?it%h +ndia at ,ational +nsurer ?inan%ial Strength (ating of
000 D+ndE with stable outloo3 indi%ating the highest %laims paying ability rating1
5ife +nsuran%e Corporation of +ndia D5+CE, the state owned behemoth,
remains by far the largest player in the mar3et1 0mong the private se%tor players,
+C+C+ 2rudential 5ife +nsuran%eDFG between +C+C+ /an3 and 2rudential 25CE and
.a; ,ew Hor3 5ife +nsuran%e are the largest followed by /a&a& 0llian9 5ife
+nsuran%e Company 5imited DFG between /a&a& *roup and 0llian9E1 $he private
%ompanies are %oming out with better produ%ts whi%h are more benefi%ial to the
%ustomer1 0mong su%h produ%ts are the U5+2s or the Unit 5in3ed +nvestment
2lans whi%h offer both life %over as well as s%ope for savings or investment
options as the %ustomer desires1 ?urther, these type of plans are sub&e%t to a
minimum lo%3"in period of three years to prevent misuse of the signifi%ant ta;
benefits offered to su%h plans under the +n%ome $a; 0%t1 6en%e, %omparison of
su%h produ%ts with mutual funds would be erroneous1
!OMMISSION % INTERMEDIATION EES
• $he ma;imum %ommission limits as per statutory provisions areC
0gen%y %ommission for retail life insuran%e businessC
? 1
st
year %ommission varies from 2A to 4A depends on yhe
produ%t and 2
nd
year onwards it varies from 1A to !A
• .a;imum bro3er %ommission " <A
• 6owever, the above %ommission may be further sub&e%t to the produ%t
wise limits spe%ified by +('0 while approving the produ%t1
LIFE INSURANCE
5ife insuran%e or life assuran%e is a %ontra%t between the poli%y owner
and the insurer, where the insurer agrees to pay a sum of money upon the
o%%urren%e of the insured individualBs or individualsB death or other event, su%h as
terminal illness or %riti%al illness1 +n return, the poli%y owner Dor poli%y payerE
agrees to pay a stipulated amount %alled a premium at regular intervals or in
lump sums1 $here may be designs in some %ountries where bills and death
e;penses plus %atering for after funeral e;penses should be in%luded in 2oli%y
2remium1
0s with most insuran%e poli%ies, life insuran%e is a %ontra%t between the
insurer and the policy owner (policyholder) whereby a benefit is paid to the
designated /enefi%iary Dor /enefi%iariesE if an insured event o%%urs whi%h is
covered by the poli%y1 $o be a life poli%y the insured event must be based upon
life Dor livesE of the people named in the poli%y1
LIFE INSURANCE IN INDIA
5ife +nsuran%e in +ndia was nationalised by in%orporating 5ife +nsuran%e
Corporation D5+CE in 1#=61 0ll private life insuran%e %ompanies at that time were
ta3en over by 5+C1
+n 1##< the *overnment of (epubli% of +ndia appointed (, .alhotra
Committee to lay down a road map for privatisation of the life insuran%e se%tor1
:hile the %ommittee submitted its report in 1##4, it too3 another si; years
before the enabling legislation was passed in the year 2, legislation amending
the Insurance Act of 1#<> and legislating the Insurance Regulatory and
Development Authority Act of 21 $he same year that the newly appointed
insuran%e regulator " +nsuran%e (egulatory and 'evelopment 0uthority +('0 ""
started issuing li%enses to private life insurers1
LIST O LIE INSURERS
0part from 5ife +nsuran%e Corporation, the publi% se%tor life insurer, there
are 1! other private se%tor life insurers, most of them &oint ventures between
+ndian groups and global insuran%e giants1
LIFE INSURER IN PUBLIC SECTOR
11 5ife +nsuran%e Corporation of +ndia
LIFE INSURERS IN PRI7ATE SECTOR
11 /a&a& 0lliums 5ife
21 .a; ,ew Hor3 5ife +nsuran%e
<1 +C+C+ 2rudential 5ife +nsuran%e
41 $ata 0+* 5ife
=1 6'?C Standard 5ife
61 /urls Sunlife
!1 S/+ 5ife +nsuran%e
8. K!'a- Ma*n(ra O"( Mu'ua" L*#% In)uranc%
#1 0viva 5ife +nsuran%e
11 (elian%e 5ife +nsuran%e Company 5imited " ?ormerly 3nown as 0.2
Sanmar 5+C
111 .etlife +ndia 5ife +nsuran%e
121 +,* Gysya 5ife +nsuran%e
1<1 .a; ,ewyor3 5ife +nsuran%e
141 Shriram 5ife +nsuran%e
1=1 /harti 0I0 5ife +nsuran%e Co 5td
161 Sahara 5ife +nsuran%e
1!1 ?uture *eneral 5ife +nsuran%e Co 5td
1>1 +'/+ ?ortis 5ife +nsuran%e Co 5td
1#1 0egon (eligare 5ife +nsuran%e Co 5td
OBJECTI7E OF THE STUDY
$he following are the main ob&e%tives of the mini pro&e%tC"
• A LEARNIN5 PHASE
$he e;perien%e of the one month in the %ompany and in the field together is
going to be a great learning phase in the pro&e%t and this also in%ludes getting to
3now and learn the %orporate %ulture of the wor3 life at Kota3 5ife +nsuran%e,
whi%h will be %arried forward as a great strength and a%hievement for the whole
of the %areer ahead1
• INTERACTIN5 WITH PEOPLE
/eing a .ar3eting student, meeting people in and out the %ompany would be
another main ob&e%tive and it would help in developing %onta%ts with the people
around and it would always helpful in a su%%essful business life1
• 7ALUE ADDITION TO THE COMPANY
$his pro&e%t will also result in value addition to the %ompany and it would result in
getting more distributors1
• TIME MANA5EMENT
-ne of the 3ey resour%es of any professional is 7$ime81 $here would be a %lear
time frame in ea%h and every wor3 of the %orporate world1 $he time ta3en to do
anything is an indi%ator of the s3ill of the doer1
RESEARCH METHODOLO5Y
$he pro%ess whi%h wor3s upon is as shown in the figure below1
D&'i(& )*& p+o,l&- .(/ +&0&.+c* o,1&c)i2&0
D&2&lop )*& +&0&.+c* pl.(
!oll&c) )*& i('o+-.)io(
A(.l34& )*& i('o+-.)io(
P+&0&() )*& 'i(/i(50
M.6& )*& /&ci0io(%Gi2& 0ol7)io(
DEFINITION OF THE PROBLEM AND THE RESEARCH OBJECTI7ES
• +dentifi%ation of the problem is thereby reali9ing the untapped resour%es1
• 5ess awareness among the people about the benefits and the 3nowledge
of the %ompany and its servi%e1
DE7ELOP THE RESEARCH PLAN
$he se%ond stage is development of the most effi%ient plan for gathering
the needed information1
DATA SOURCES
$he data gathered, is through the se%ondary data and the primary data1
$he Se%ondary data %olle%ted was that whi%h was already %olle%ted for another
purpose and already e;ist1 2rimary data is the data freshly gathered for this
spe%ifi% purpose and the resear%h pro&e%t1
Se%ondary data has provided a starting point for the resear%h1 $he normal
pro%edure that is followed to interview people individually to get a sense of
people feels about the %ompany and its servi%e1
RESEARCH APPROACH
$he 3ind of resear%h approa%h used is the survey resear%h1 $he survey is
helpful learning about people8s 3nowledge, beliefs, preferen%es, and satisfa%tion,
and to measure these magnitudes in the general population1
RESEARCH INSTRUMENT
$he resear%h instrument used is the Juestionnaire1
SAMPLIN5 PLAN
$he sample si9e plan %onsists of > finan%ial distributors in Co%hin1$he
most versatile %onta%t method that %ould be followed is the personal interviewing1
COLLECTION OF INFORMATION
$he data %olle%tion phase is the most deli%ate and prone to errors1
ANALY9E THE INFORMATION
$he ne;t pro%ess is to e;tra%t the findings from the %olle%ted data1
PRESENT THE FINDIN5S
$he last would be to present the findings that are relevant for the de%ision
fa%ing the management1
CONCLUSION OR PRESENTIN5 THE SOLUTIONS
$his would be based on the study would be the last ma&or step to be
followed1
INSURANCE
$he +ndian insuran%e se%tor is on a bull run1 $he average +ndian now
spends =14 times as mu%h on life insuran%e as what sKhe did seven years ago
when the industry was yet to be opened up for private parti%ipation1
:ith the largest number of life insuran%e poli%ies in for%e in the world,
+ndiaBs insuran%e se%tor a%%ounted for 411 per %ent of *'2 in 26"!, up from
112 per %ent in 1###"2, far ahead of China where insuran%e a%%ounts for &ust
11! per %ent of the *'2 and even the US where insuran%e penetration stands at
4 per %ent of the *'21
+ndians are now setting aside a larger %hun3 of their in%ome on life
insuran%e when measured as a per%entage of *'21 $hey are allo%ating a small
amount of their ta3e"home to buy insuran%e produ%ts given their rising equated
monthly installment D).+E payments for home mortgage and other loans1
$he growth in insuran%e premium %olle%tions has spelt an opportunity for
the equity mar3et too1 $he industryBs investment in the equity mar3et stood at
USL <>11 billion and the assets under management were at USL 1=216 billion as
on .ar%h <1, 2!1
+ndian insuran%e %ompanies re%orded a 1#1# per %ent growth in premium
in dollar terms Dad&usted for inflationE in 26"!, %ompared to the world mar3et
growth rate of 21# per %ent1 $his rate of growth of the industry loo3s parti%ularly
impressive when seen against the fa%t that the %ombined penetration of both life
and non"life is less than 2 per %ent of the *'2 %ompared to world average of
!1=2 per %ent1 Clearly, the s%ope for growth is enormous1
LIFE INSURANCE
5ed by the 5ife +nsuran%e Corporation D5+CE, the life insuran%e industry
registered a growth of 11 per %ent in fis%al 26"!, ta3ing the total business to
USL 1#12 billion from the previous yearBs USL #11 billion1 $he life insuran%e
mar3et has grown rapidly over the past si; years, with new business premiums
growing at over 4 per %ent per year owing to the entry of a host of new players
with signifi%ant growth aspirations and %apital %ommitments1
$he total life insuran%e mar3et premiums is li3ely to more than double
from the %urrent USL 4 billion to USL >"USL1 billion by 212, says a study
by .%Kinsey1 $he study titled B+ndia +nsuran%e 212C ?ortune ?avours the /old,B
e;pe%ts a rise in premiums between =11 and 612 per %ent of the *'2 in 212
from the %urrent 411 per %ent driven by greater insuran%e intensity per %apita as
the average per %apita in%ome in%reases and rise in penetration in urban and
rural areas1
$he life insuran%e premium %ontributions per %apita have &umped from a
little over USL ! in 1###"2 Dpre"liberalisationE to USL <>1= in 26"!1
5ife insuran%e penetration in +ndia " whi%h was less than 1 per %ent till
1##"#1 " in%reased to 21=< per %ent in 2=, and to < per %ent in 26"!1 $he
impetus for growth has %ome from both publi% and private insurers1 0lso, the
number of players in this segment has also in%reased to 1! D16 in private se%torE,
with 5ife +nsuran%e Corporation D5+CE being the dominant player Dmar3et share of
about !4 per %entE1
INNO7ATI7E TRENDS
+nsuran%e in +ndia has been spurred by produ%t innovation, streamlining of
sales and distribution %hannels along with targeted advertising and mar3eting
%ampaigns1
$he 3idBs insuran%e segment in the insuran%e se%tor is witnessing
in%reased a%tivity1 ChildrenBs produ%ts su%h as +C+C+ 2rudential 5ifeBs BSmartKidB,
/irla Sun 5ifeBs BChildrenBs 'ream 2lanB, or 6'?C Standard B5ifeBs Houng Star
2lusB, are on a %onsistent growth path1 0%%ording to industry estimates, %urrently,
2"< per %ent of business of many %ompanies %omes from %hildren"spe%ifi%
insuran%e poli%ies alone1
)merging lifestyle trends amid a %hanging fabri% of the +ndian so%iety have
also modified so%ial and finan%ial behaviour1 ?or instan%e, an in%rease in the
number of wor3ing women has led to a demand for life insuran%e poli%ies, whi%h
in turn has helped women through a mi%ro"entrepreneurship initiative Dwomen
have fle;ibility " managing home and being finan%ially independent as distributors
of insuran%eE1
T% R!a( A%a( . . . .
.ar3et penetration tends to rise as in%omes in%rease, parti%ularly in life
insuran%e1 +ndia, with its huge middle"%lass households and growing e%onomy
has e;hibited huge potential for this se%tor1 Current estimates say that, for every
one per %ent in%rease in the *'2, insuran%e premiums in%rease by at least 4 per
%ent1
$he domesti% insuran%e industry in +ndia is estimated to be around USL
61= billion by 21, of whi%h USL <= billion will %ome from rural and semi"urban
areas1 :hile the life insuran%e mar3et is e;pe%ted to grow to USL <= billion, non"
life insuran%e mar3et will tou%h an estimated USL 2= billion1
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD.
Kota3 .ahindra -ld .utual 5ife +nsuran%e is a !4C26 &oint venture
between Kota3 .ahindra /an3 5td1 and -ld .utual pl%1 Kota3 .ahindra -ld
.utual 5ife +nsuran%e is one of the fastest growing insuran%e %ompanies in +ndia
and has shown remar3able growth sin%e its in%eption in 211
0t Kota3 5ife +nsuran%e, we aim to help %ustomers ta3e important finan%ial
de%isions at every stage in life by offering them a wide range of innovative life
insuran%e produ%ts, to ma3e them finan%ially independent1
-ld .utual, a %ompany with 16 years e;perien%e in life insuran%e, is an
international finan%ial servi%es group listed on the 5ondon Sto%3 );%hange and
in%luded in the ?$S) 1 list of %ompanies, with assets under management
worth L 4 /illion as on <th Fune, 261 ?or %ustomers, this &oint venture
translates into a %ompany that %ombines international e;pertise with the
understanding of the lo%al mar3et1
PRODUCTS
INDI7IDUAL
• Kota3 Smart 0dvantage
• Kota3 )ternal 5ife 2lans
• Kota3 2latinum 0dvantage 2lan
• Kota3 6eadstart Child 2lans
• Kota3 Su3hi Feevan 2lan
• Kota3 2rivileged 0ssuran%e 2lan
• Kota3 $erm 2lan
• Kota3 2referred $erm 2lan
• Kota3 .oney /a%3 2lan
• Kota3 Child 0dvantage 2lan
• Kota3 )ndowment 2lan
• Kota3 Capital .ultiplier 2lan
• Kota3 (etirement +n%ome 2lan
• Kota3 (etirement +n%ome 2lan
DUnit"lin3edE
• Kota3 Safe +nvestment 2lan ++
• Kota3 ?le;i 2lan
• Kota3 )asy *rowth 2lan
• Kota3 2remium (eturn 2lan
• (iders
5ROUP
• )mployee /enefits
• Kota3 $erm *rouplan
• Kota3 Credit"$erm *rouplan
• Kota3 Complete Cover *rouplan
• Kota3 *ratuity *rouplan
• Kota3 Superannuation *rouplan
RURAL
• Kota3 *ramin /ima Ho&ana
TABLE 2
TABLE SHOWIN5 WHETHER THE RESPONDENTS ARE ASSOCIATED WITH
KOTAK MAHINDRA 5ROUP
NO OF RESPONDENTS PERCENTA5E
H)S 1= 1#
,- 6= >1
TOTAL 80 200
INTERPRETATION/
?rom the above table it is inferred that >1A of the respondents are not
asso%iated with Kota3 .ahindra group and 1#A of the respondents are
asso%iated with Kota3 .ahindra group1
CHART 2
TABLE :
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E TAKEN LIFE
INSURANCE POLICIES
,- -? ()S2-,'),$S 2)(C),$0*)
H)S => !2
,- 22 2>
$-$05 > 1
INTERPRETATION/
?rom the above table it is %lear that !2A of the respondents have ta3en
life insuran%e poli%ies and 2>A has not ta3en life insuran%e poli%ies1
CHART :
TABLE 4
TABLE SHOWIN5 WHETHER THE RESPONDENTS ARE AWARE OF THE
POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA
,- -? ()S2-,'),$S 2)(C),$0*)
H)S != #4
,- = 6
$-$05 > 1
INTERPRETATION/
?rom the above table it is shown that #4A of the respondents are aware
of the potential of life insuran%e industry in +ndia and 6A of the respondents are
not aware of the potential of life insuran%e industry in +ndia1
CHART 4
TABLE ;
TABLE SHOWIN5 WHETHER THE RESPONDENTS THINK THAT
INSURANCE IS A 5OOD IN7ESTMENT PLAN
,- -? ()S2-,'),$S 2)(C),$0*)
H)S !2 #
,- > 1
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that #A of the respondents thin3 that
insuran%e is a good investment option and 1A of the respondents thin3 that
insuran%e is not a good investment option1
CHART ;
TABLE <
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E CONSIDERED
SELLIN5 INSURANCE AS AN ADDITIONAL BUSINESS OPTION
,- -? ()S2-,'),$S 2)(C),$0*)
H)S <6 4=
,- 44 ==
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that ==A of the respondents have
%onsidered selling insuran%e as an additional business option and 4=A of the
respondents has not %onsidered selling insuran%e as an additional business
option1
CHART <
TABLE =
TABLE SHOWIN5 WHETHER THE RESPONDENTS ARE DEALIN5
WITHNOR SELLIN5 LIFE INSURANCE PRODUCTS OF ANY COMPANY
,- -? ()S2-,'),$S 2)(C),$0*)
H)S <! 46
,- 4< =4
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that =4A of the respondents are not
dealing with or selling life insuran%e produ%ts of any %ompany and 46A of the
respondents are dealing with or selling life insuran%e produ%ts of any %ompany1
CHART =
TABLE 1
CHART SHOWIN5 WHETHER THE RESPONDENTS KNOW THAT THEY CAN
EARN UPTO ;0> OF THE FIRST YEAR PREMIUM AS COMMISSION
,- -? ()S2-,'),$S 2)(C),$0*)
H)S << 41
,- 4! =#
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that =#A of the respondents don8t 3now
that they %an earn upto 4A of the first year premium as %ommission and 41A of
the respondents 3now that they %an earn upto 4A of the first year premium as
%ommission
CHART 1
TABLE 8
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E HEARD OF
KOTAK HEAD START? NO.2 CHILD PLAN RATED BY @OUTLOOK MONEY@
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 2= <1
,- == 6#
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that 6#A of the respondents has not
heard of Kota3 head start, no11 %hild plan rated by Boutloo3 moneyB and <1A of
the respondents have heard of Kota3 head start, no11 %hild plan rated by Boutloo3
moneyB
CHART 8
TABLE 3
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E HEARD ABOUT
KOTAK SAFE IN7ESTMENT PLAN? WHICH IN7ESTS UPTO 80> OF THE
FUND IN EAUITY MARKET? STILL 5I7IN5 CAPITAL 5UARANTEE
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 4< =4
,- <! 46
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that =4A of the respondents are have
heard about 3ota3 safe investment plan, whi%h invests upto >A of the fund in
equity mar3et, still giving %apital guarantee and 46A of the respondents has not
heard about 3ota3 safe investment plan, whi%h invests upto >A of the fund in
equity mar3et, still giving %apital guarantee1
CHART 3
TABLE 20
TABLE SHOWIN5 WHETHER THE RESPONDENTS KNOW ABOUT THE
EARNIN5 POTENTIAL BY SELLIN5 LIFE INSURANCE PRODUCTS
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 6# >6
,- 11 14
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that >6A of the respondents 3now
about the earning potential by selling life insuran%e produ%ts and 14A of the
respondents %hart showing whether the respondents don8t 3now about the
earning potential by selling life insuran%e produ%ts1
CHART 20
TABLE 22
TABLE SHOWIN5 WHETHER THE RESPONDENTS KNOW THAT THERE IS
NO CAPITAL REAUIREMENT FOR STARTIN5 INSURANCE DISTRIBUTION
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 6= >1
,- 1= 1#
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that >1A of the respondents 3now that
there is no %apital requirement for starting insuran%e distribution and 1#A of the
respondents 3now that there is no %apital requirement for starting insuran%e
distribution1
CHART 22
TABLE 2:
TABLE SHOWIN5 WHETHER THE RESPONDENTS LIKE TO ASSOCIATE
WITH KOTAK LIFE INSURANCE
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 2 2=
,- 6 !=
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that !=A of the respondents li3e to
asso%iate with 3ota3 life insuran%e and 2=A of the respondents do not li3e to
asso%iate with 3ota3 life insuran%e1
CHART 2:
FINDIN5S
? .a&ority of the %ustomers are not asso%iated with the Kota3 group
%ompanies1 -nly 1#A are asso%iated with Kota3 group %ompanies1
? +t is found that around !2A of the respondents have ta3en any life
insuran%e poli%y from several life insuran%e %ompanies and the rest are
not insured1
? +t is found that #4A of the respondents are aware of the potential of life
insuran%e industry in +ndia and 6A of the respondents are not aware of
the potential of life insuran%e industry in +ndia1
? .a&ority of the respondents thin3 that insuran%e is a good investment
option be%ause of high returns and less ris31
? +t is found that ==A of the respondents have %onsidered selling insuran%e
as an additional business option and 4=A of the respondents has not
%onsidered selling insuran%e as an additional business option1
? +t is found that =4A of the respondents are not dealing with or selling life
insuran%e produ%ts of any %ompany and 46A of the respondents are
dealing with or selling life insuran%e produ%ts of any %ompany1
? 0lmost all the %ustomers are satisfied with servi%es provided by their
insurer1
? 0round =#A of the respondents don8t 3now that they %an earn upto 4A
of the first year premium as %ommission and 41A of the respondents
3now that they %an earn upto 4A of the first year premium as
%ommission1
? .a&ority of the respondents are not aware of Kota3 head start, no11 %hild
plan rated by Boutloo3 moneyB1
? .a&ority of the respondents have heard about 3ota3 safe investment plan,
whi%h invests upto >A of the fund in equity mar3et, still giving %apital
guarantee1
? .a&ority of the respondents do not want to asso%iate with 3ota3 life
insuran%e1
SU55ESTIONS
? $he %ompany has to spend more on mar3eting e;penses to in%rease
awareness among population on Kota3 head start, no11 %hild plan rated by
Boutloo3 moneyB and 3ota3 safe investment plan1
? $he %ompany has to identify segments su%h as ,(+8s,house wives and
pensioners to in%rease the penetration among life insuran%e advisors1
? $he %ompany has to %on%entrate more on a%quiring people who are
asso%iated with other insuran%e %ompanies to penetrate the mar3et1
? $he %ompany has to go in"depth into the %ustomer data base of 3ota3
group %ompanies to a%quire more %ustomers1
? 2roper advertisements and %lear"%ut pi%ture about the s%hemes are to be
provided to attra%t %ustomers1
LIMITATIONS
2. DIFFICULT TO 5ET APPOINTMENT
*etting the appointment to spea3 about produ%t and %ompany is a
6er%ulean tas3 in the modern world be%ause of the he%ti% s%hedule of the
business people as the target group is 6igh ,et
rth1
:. TIME CONSTRAINT
?or getting better results, the resear%her has to s%hedule their wor3
beyond the allotted time1 /ut this %annot be possible in all %ir%umstan%es1 +n
many o%%asions meeting lo%ation of the people might be different1 $his
%onsumes lot of time of a day and it minimi9es the wor3 s%hedule1 0nd there is a
big time gap in ma3ing a 3ind of good relationship with %ustomers whi%h ma3es a
strong basement for doing survey1 So it is very diffi%ult to get business in initial
stages1 +n this way there is a lose of opportunities for ma3ing business1 $raveling
though out the %ity and its traffi% blo%3s are another barriers in the survey1
4. SIN5LE BRANCH OPERATIONS AND DIFFERENTIATED FACILITIES AND
SER7ICE
.any times the single bran%h operations are not %onvenien%e for the
%ustomers espe%ially the people who are doing business with other lo%ations1
:hen there is a %ompany introdu%ing new fa%ilities and servi%e, it ta3es a quiet
bit of time to get faith of the people1
CONCLUSION
-n a whole the pro&e%t is a eye opener towards the pra%ti%al side of the
business s%enario1 $he 3nowledge a%quired through %lassroom sessions %ould
be put to use in a real pra%ti%al world1 $his serves as the right platform for
professional development1 $he first hand e;perien%es of the %orporate
atmosphere and the %ulture pra%ti%ed gave an insight into the true professional
attitude1
0s a result of the hard"%ore wor3 and efforts made t over%ome many
hurdles and obsta%les on the path of the pro&e%t wor3, better results are obtained
and the %ompany reali9es the results of our wor3 through the materiali9ation of
sales of their produ%t1 0lso from the responses of the publi% that is %onveyed to
the organi9ation as a part of pro&e%t wor3, really help the %ompany in their wor3
pro%ess1 +n this way itself many %ustomer %omplaints are sold up to a remar3able
e;tent1 $he types of mar3eting strategies adopted by us really help the
organi9ation to boost up their brand image and there by resulted in better returns1
REFERENCES
BOOKS
11 B.ar3eting .anagement@ M 26+5+2 K-$5)(
21 4+ntrodu%tion to Juantitative .ethods@ M C1(1K-$60(+
WEBSITE
www13ota31%om
www1indiainfoline1%om
www1wi3epedia1%om
AUESTIONNAIRE
'ate of data %olle%tion C
,ame of the %on%erned person, designation C
,ame of the %ompany C
Conta%t address
11 6ave you asso%iated any way with Kota3 .ahindra *roupN
Hes no
21 6ave you ta3en life insuran%e poli%iesN
Hes no
+f yes, with whi%h %ompanyN111111111111111111111111111111111111111111111111111111111
+f no, would you li3e to ta3e nowN11111111111111111111111111111111111111111111111111
<1 0re you aware of the potential of life insuran%e industry in +ndiaN
Hes no
41 'o you thin3 that insuran%e is a good investment optionN
Hes no
=1 6ave you %onsidered selling insuran%e as an additional business optionN
Hes no
61 0re you dealing with, or selling life insuran%e produ%ts of any %ompanyN
Hes no
+f yes, with whi%h %ompanyN111111111111111111111111111111111111111111111111111111111111111111
+f no,would you li3e to start insuran%e distributionN1111111111111111111111111111111
!1 0re you satisfied with the servi%e and support they provideN
Hes no
>1 'o you 3now you that you %an earn up to 4A of the first year premium as
%ommissionN
Hes no
#1 0re u aware that there is no %apital required for starting life insuran%e
distributionN
Hes no
11 6ave u heard about Kota3 safe investment plan whi%h invest up to >A of
the fund in equity mar3et but still gives %apital guaranteeN
Hes no
111 6ave you heard about Kota3 6ead Start, ,o11Child plan in +ndia rated by
outloo3 moneyN
Hes no
121uld you li3e to get asso%iated with Kota3 life insuran%eN
Hes no
C Tan- y!u C
doc_591870151.doc
Study on Insurance Distribution As An Additional Business Opportunity At Kotak Life Insurance
A STUDY ON INSURANCE DISTRIBUTION AS AN ADDITIONAL
BUSINESS OPPORTUNITY AT KOTAK LIFE INSURANCE WITH
SPECIAL EMPHASIS ON FINANCIAL DISTRIBUTORS IN COCHIN
PROJECT REPORT
Submitted by
ANISH KUMAR P
(REG.NO.07 BA 193)
Submitted in partial fulfillment of the requirements for the award for
the degree of
MASTER OF BUSINESS ADMINISTRATION (M.B.A)
of Karunya University,Coimbatore
Karunya Sc!!" !# Mana$%&%n'
Karunya University
Coimbatore 641 114
2!"2#
CERTIFICATE
$his is to %ertify that the pro&e%t entitled, “A S'u(y On
In)uranc% D*)'r*+u'*!n A) An A((*'*!na" Bu)*n%))
O,,!r'un*'y A' K!'a- L*#% In)uranc% . 'one by Mr. ANISH
KUMAR P , ()*+S$)( ,-/ 01BA234, and is submitted in partial
fulfillment of the requirements for the degree of .aster of /usiness
0dministration of Karunya University1
Dr.J.Reeves Wesley Mrs.Sumitha Anand
(Head of School) (Faculty Guide)
lace!
Date!
"iva#"oce $%amination held on&&&&&&
&&&&&&&&&&. &&&&&&&&..
'nternal $%aminer $%ternal
DECLARATION
+, .r10nish Kumar 2 hereby de%lare that the pro&e%t wor3 entitled 4a )'u(y
!n *n)uranc% (*)'r*+u'*!n a) an a((*'*!na" +u)*n%)) !,,!r'un*'y. with
spe%ial referen%e to %o%hin %ity at Kota3 5ife +nsuran%e is a bonafide re%ord of
wor3 done by me in partial fulfillment of the requirements for the award of the
degree of .aster of /usiness 0dministration of Karunya University under the
guidan%e of .rs1Sumitha 0nand, 5e%turer,'epartment of .anagement S%ien%es,
Karunya S%hool of .anagement, Coimbatore, during the a%ademi% year 2!"
2#, and it has not either wholly or in part, been submitted for any degree or
'iploma %ourses1
0,+S6 KU.0( 2
ACKNOWLED5EMENT
+ than3 the 75ord 0lmighty8 for the gra%ious ama9ing and wonderful ways
in whi%h 76e8 has helped me and strengthened me through every little step of the
mini pro&e%t wor3 + have ta3en1
+ ta3e this opportunity to pla%e on re%ord my sin%ere than3s to 'r1 (eeves
:essely, 6-' for providing all the fa%ilities in the department to %omplete the
pro&e%t su%%essfully1
+ would li3e to e;tend my gratitude to .s1 Sumitha 0nand, 5e%turer of ./0
department for the help and guidan%e offered to me for the su%%essful %ompletion
of this mini pro&e%t wor31
.y heartfelt than3s to my Company *uide .r1'ayesh .enon, $erritory
.anager for his %ountenan%e, towards the su%%essful a%%omplishment of my mini
pro&e%t1
+ e;press my heartiest than3s to all the employees of the %ompany and also to
my friends and well"wishers who have helped in one way or other for the
su%%essful %ompletion of this pro&e%t1
0t last but not least, it will be highly unethi%al if negle%ted to
a%3nowledge all %ustomers and those people who e;tended their whole hearted
%o"operation1
CONTENTS
S". N! TOPIC Pa$% N!
1 );e%utive Summary "
2 +ntrodu%tion 1
< $heoreti%al perspe%tive =
4 -b&e%tive of the study !
= (esear%h methodology >
6 +ndustry profile 11
! Company profile 14
> 0nalysis and +nterpretation 1!
# ?indings 2#
1 Suggestions <1
11 5imitations of Study <2
12 Con%lusion <<
E6ECUTI7E SUMMARY
$he study was %ondu%ted as a part of ./0 %urri%ulum of Karunya
University1 $he topi% sele%ted for the study was 4+nsuran%e distribution as an
additional business opportunity@1 $he study was %ondu%ted on a population
%onsisting finan%ial distributors from various pla%es in Co%hin %ity1
$he resear%her used questionnaire and %olle%ted data from distributors
through personal interview method1 $he %olle%ted data8s were analysed and
represented with the help of tables and %harts1
/ased on the findings from the study the resear%her has given his
suggestions and re%ommendations to the management in the form of a report1
LIST OF TABLES
Sl. No Topic
(
$able showing whether the respondents are asso%iated with Kota3
.ahindra *roup
)
$able showing whether the respondents have ta3en life insuran%e
poli%ies
*
$able showing whether the respondents are aware of the potential of
life insuran%e industry in +ndia1
+
$able showing whether the respondents thin3 that insuran%e is a good
investment plan
,
$able showing whether the respondents have %onsidered selling
insuran%e as an additional business option
-
$able showing whether the respondents are dealing with or selling life
insuran%e produ%ts of any %ompany
.
$able showing whether the respondents 3now that they %an earn upto
4A of the first year premium as %ommission
/
$able showing whether the respondents have heard of Kota3 6ead
Start, ,o11 %hild plan rated by Boutloo3 moneyB
0
$able showing whether the respondents have heard about Kota3 Safe
+nvestment plan, whi%h invests upto >A of the fund in equity mar3et,
still giving %apital guarantee
(1
$able showing whether the respondents 3now about the earning
potential by selling life insuran%e produ%ts
((
$able showing whether the respondents 3now that there is no %apital
requirement for starting insuran%e distribution
()
$able showing whether the respondents li3e to asso%iate with Kota3
5ife +nsuran%e
LIST OF CHARTS
Sl. No Topic
(
Chart showing whether the respondents are asso%iated with Kota3
.ahindra *roup
)
Chart showing whether the respondents have ta3en life insuran%e
poli%ies
*
Chart showing whether the respondents are aware of the potential of
life insuran%e industry in +ndia1
+
Chart showing whether the respondents thin3 that insuran%e is a good
investment plan
,
Chart showing whether the respondents have %onsidered selling
insuran%e as an additional business option
-
Chart showing whether the respondents are dealing with or selling life
insuran%e produ%ts of any %ompany
.
Chart showing whether the respondents 3now that they %an earn upto
4A of the first year premium as %ommission
/
Chart showing whether the respondents have heard of Kota3 6ead
Start, ,o11 %hild plan rated by Boutloo3 moneyB
0
Chart showing whether the respondents have heard about Kota3 Safe
+nvestment plan, whi%h invests upto >A of the fund in equity mar3et,
still giving %apital guarantee
(1
Chart showing whether the respondents 3now about the earning
potential by selling life insuran%e produ%ts
((
Chart showing whether the respondents 3now that there is no %apital
requirement for starting insuran%e distribution
()
Chart showing whether the respondents li3e to asso%iate with Kota3
5ife +nsuran%e
KOTAK 5ROUP COMPANIES
Kota3 .ahindra *roup is mainly into finan%ial servi%es whi%h en%ompass
insuran%e, mutual funds, ban3ing, investments and other a%tivities of similar
nature1 $hese various finan%ial servi%e a%tivities have been %ontrolled by different
subsidiary of Kota3 .ahindra group1 $he group %ompanies and respe%tive
a%tivities are given belowC
KOTAK MAHINDRA 5ROUP
? KOTAK MAHINDRA BANK LTD
$he Kota3 .ahindra ?inan%e 5td established in 1#>= whi%h is Kota3 .ahindra
*roup8s flagship %ompany got %onverted into a ban3 4Kota3 .ahindra /an3@ in
.ar%h 2<1 +t is the first +ndian %ompany to %onvert into a ban31 +ts ban3ing
operations offer a %entral platform for %ustomer relationships a%ross the groups
various businesses1 $he ban3 has a presen%e in the %ommer%ial vehi%les, retail
finan%e, %orporate ban3ing, treasury and housing finan%e1
? KOTAK MAHINDRA CAPITAL COMPANY
$he Kota3 .ahindra Capital Company 5td is 3nown as +ndia8s premier
+nvestment ban3 and a primary dealer whi%h is approved by the (/+1 K.CC8s
%ore business areas in%lude private equity, insuran%e, mergers and a%quisitions,
stru%tured finan%e and advisory servi%es, fi;ed in%ome se%urities and prin%ipal
business1
? KOTAK SECURITIES
Kota3 Se%urities 5td is one of +ndia8s largest bro3erage and se%urities distribution
house in +ndia1 +t has been one of the leading investment bro3ing houses %atering
to the needs of both institutional and non institutional investor %ategories with its
presen%e all over the %ountry through fran%hises and %oordinators1 Kota3
Se%urities 5td offers both online and offline servi%es whi%h is based on well
resear%hed e;pertise and finan%ial produ%ts to the non institutional investors1
? KOTAK MAHINDRA PRIME
Kota3 .ahindra 2rime 5td is formerly 3nown as Kota3 .ahindra 2rimus 5td1 +t
has been formed with the ob&e%tive of finan%ing the retail and wholesale trade of
passenger and multi utility vehi%les in +ndia1 Kota3 .ahindra 2rime offers
%ustomers retail finan%e for both new as well as used %ars and wholesale finan%e
to dealers in the automobile trade1
? KOTAK MAHINDRA ASSET MANA5EMENT COMPANY
Kota3 .ahindra 0sset .anagement Company is a subsidiary of Kota3 .ahindra
/an31 +t is the asset manager for Kota3 .ahindra .utual ?unds1 K..? manages
funds in e;%ess of (s 11 %rores and offers s%hemes %atering to investors with
various ris3 return profiles1 +t is the first fund house in the %ountry to laun%h a
dedi%ated gilt s%heme investing only in government se%urities1
? KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD
Kota3 .ahindra -ld .utual 5ife +nsuran%e 5td is a &oint venture between K./
5$' and -ld .utual 2l%1 Kota3 5ife +nsuran%e help %ustomers to ta3e important
finan%ial de%isions at every stage in life offering them a wide range of innovative
life insuran%e produ%ts, to ma3e them finan%ially independent1
INDIAN LIE INSURAN!E INDUSTR" O#ER#IE$
0ll life insuran%e %ompanies in +ndia have to %omply with the stri%t
regulations laid out by +nsuran%e (egulatory and 'evelopment 0uthority of +ndia
D+('0E1 $herefore there is no ris3 in going in for private insuran%e players1 +n
terms of being rated for finan%ial strength li3e international players, only +C+C+
2rudential is rated by ?it%h +ndia at ,ational +nsurer ?inan%ial Strength (ating of
000 D+ndE with stable outloo3 indi%ating the highest %laims paying ability rating1
5ife +nsuran%e Corporation of +ndia D5+CE, the state owned behemoth,
remains by far the largest player in the mar3et1 0mong the private se%tor players,
+C+C+ 2rudential 5ife +nsuran%eDFG between +C+C+ /an3 and 2rudential 25CE and
.a; ,ew Hor3 5ife +nsuran%e are the largest followed by /a&a& 0llian9 5ife
+nsuran%e Company 5imited DFG between /a&a& *roup and 0llian9E1 $he private
%ompanies are %oming out with better produ%ts whi%h are more benefi%ial to the
%ustomer1 0mong su%h produ%ts are the U5+2s or the Unit 5in3ed +nvestment
2lans whi%h offer both life %over as well as s%ope for savings or investment
options as the %ustomer desires1 ?urther, these type of plans are sub&e%t to a
minimum lo%3"in period of three years to prevent misuse of the signifi%ant ta;
benefits offered to su%h plans under the +n%ome $a; 0%t1 6en%e, %omparison of
su%h produ%ts with mutual funds would be erroneous1
!OMMISSION % INTERMEDIATION EES
• $he ma;imum %ommission limits as per statutory provisions areC
0gen%y %ommission for retail life insuran%e businessC
? 1
st
year %ommission varies from 2A to 4A depends on yhe
produ%t and 2
nd
year onwards it varies from 1A to !A
• .a;imum bro3er %ommission " <A
• 6owever, the above %ommission may be further sub&e%t to the produ%t
wise limits spe%ified by +('0 while approving the produ%t1
LIFE INSURANCE
5ife insuran%e or life assuran%e is a %ontra%t between the poli%y owner
and the insurer, where the insurer agrees to pay a sum of money upon the
o%%urren%e of the insured individualBs or individualsB death or other event, su%h as
terminal illness or %riti%al illness1 +n return, the poli%y owner Dor poli%y payerE
agrees to pay a stipulated amount %alled a premium at regular intervals or in
lump sums1 $here may be designs in some %ountries where bills and death
e;penses plus %atering for after funeral e;penses should be in%luded in 2oli%y
2remium1
0s with most insuran%e poli%ies, life insuran%e is a %ontra%t between the
insurer and the policy owner (policyholder) whereby a benefit is paid to the
designated /enefi%iary Dor /enefi%iariesE if an insured event o%%urs whi%h is
covered by the poli%y1 $o be a life poli%y the insured event must be based upon
life Dor livesE of the people named in the poli%y1
LIFE INSURANCE IN INDIA
5ife +nsuran%e in +ndia was nationalised by in%orporating 5ife +nsuran%e
Corporation D5+CE in 1#=61 0ll private life insuran%e %ompanies at that time were
ta3en over by 5+C1
+n 1##< the *overnment of (epubli% of +ndia appointed (, .alhotra
Committee to lay down a road map for privatisation of the life insuran%e se%tor1
:hile the %ommittee submitted its report in 1##4, it too3 another si; years
before the enabling legislation was passed in the year 2, legislation amending
the Insurance Act of 1#<> and legislating the Insurance Regulatory and
Development Authority Act of 21 $he same year that the newly appointed
insuran%e regulator " +nsuran%e (egulatory and 'evelopment 0uthority +('0 ""
started issuing li%enses to private life insurers1
LIST O LIE INSURERS
0part from 5ife +nsuran%e Corporation, the publi% se%tor life insurer, there
are 1! other private se%tor life insurers, most of them &oint ventures between
+ndian groups and global insuran%e giants1
LIFE INSURER IN PUBLIC SECTOR
11 5ife +nsuran%e Corporation of +ndia
LIFE INSURERS IN PRI7ATE SECTOR
11 /a&a& 0lliums 5ife
21 .a; ,ew Hor3 5ife +nsuran%e
<1 +C+C+ 2rudential 5ife +nsuran%e
41 $ata 0+* 5ife
=1 6'?C Standard 5ife
61 /urls Sunlife
!1 S/+ 5ife +nsuran%e
8. K!'a- Ma*n(ra O"( Mu'ua" L*#% In)uranc%
#1 0viva 5ife +nsuran%e
11 (elian%e 5ife +nsuran%e Company 5imited " ?ormerly 3nown as 0.2
Sanmar 5+C
111 .etlife +ndia 5ife +nsuran%e
121 +,* Gysya 5ife +nsuran%e
1<1 .a; ,ewyor3 5ife +nsuran%e
141 Shriram 5ife +nsuran%e
1=1 /harti 0I0 5ife +nsuran%e Co 5td
161 Sahara 5ife +nsuran%e
1!1 ?uture *eneral 5ife +nsuran%e Co 5td
1>1 +'/+ ?ortis 5ife +nsuran%e Co 5td
1#1 0egon (eligare 5ife +nsuran%e Co 5td
OBJECTI7E OF THE STUDY
$he following are the main ob&e%tives of the mini pro&e%tC"
• A LEARNIN5 PHASE
$he e;perien%e of the one month in the %ompany and in the field together is
going to be a great learning phase in the pro&e%t and this also in%ludes getting to
3now and learn the %orporate %ulture of the wor3 life at Kota3 5ife +nsuran%e,
whi%h will be %arried forward as a great strength and a%hievement for the whole
of the %areer ahead1
• INTERACTIN5 WITH PEOPLE
/eing a .ar3eting student, meeting people in and out the %ompany would be
another main ob&e%tive and it would help in developing %onta%ts with the people
around and it would always helpful in a su%%essful business life1
• 7ALUE ADDITION TO THE COMPANY
$his pro&e%t will also result in value addition to the %ompany and it would result in
getting more distributors1
• TIME MANA5EMENT
-ne of the 3ey resour%es of any professional is 7$ime81 $here would be a %lear
time frame in ea%h and every wor3 of the %orporate world1 $he time ta3en to do
anything is an indi%ator of the s3ill of the doer1
RESEARCH METHODOLO5Y
$he pro%ess whi%h wor3s upon is as shown in the figure below1
D&'i(& )*& p+o,l&- .(/ +&0&.+c* o,1&c)i2&0
D&2&lop )*& +&0&.+c* pl.(
!oll&c) )*& i('o+-.)io(
A(.l34& )*& i('o+-.)io(
P+&0&() )*& 'i(/i(50
M.6& )*& /&ci0io(%Gi2& 0ol7)io(
DEFINITION OF THE PROBLEM AND THE RESEARCH OBJECTI7ES
• +dentifi%ation of the problem is thereby reali9ing the untapped resour%es1
• 5ess awareness among the people about the benefits and the 3nowledge
of the %ompany and its servi%e1
DE7ELOP THE RESEARCH PLAN
$he se%ond stage is development of the most effi%ient plan for gathering
the needed information1
DATA SOURCES
$he data gathered, is through the se%ondary data and the primary data1
$he Se%ondary data %olle%ted was that whi%h was already %olle%ted for another
purpose and already e;ist1 2rimary data is the data freshly gathered for this
spe%ifi% purpose and the resear%h pro&e%t1
Se%ondary data has provided a starting point for the resear%h1 $he normal
pro%edure that is followed to interview people individually to get a sense of
people feels about the %ompany and its servi%e1
RESEARCH APPROACH
$he 3ind of resear%h approa%h used is the survey resear%h1 $he survey is
helpful learning about people8s 3nowledge, beliefs, preferen%es, and satisfa%tion,
and to measure these magnitudes in the general population1
RESEARCH INSTRUMENT
$he resear%h instrument used is the Juestionnaire1
SAMPLIN5 PLAN
$he sample si9e plan %onsists of > finan%ial distributors in Co%hin1$he
most versatile %onta%t method that %ould be followed is the personal interviewing1
COLLECTION OF INFORMATION
$he data %olle%tion phase is the most deli%ate and prone to errors1
ANALY9E THE INFORMATION
$he ne;t pro%ess is to e;tra%t the findings from the %olle%ted data1
PRESENT THE FINDIN5S
$he last would be to present the findings that are relevant for the de%ision
fa%ing the management1
CONCLUSION OR PRESENTIN5 THE SOLUTIONS
$his would be based on the study would be the last ma&or step to be
followed1
INSURANCE
$he +ndian insuran%e se%tor is on a bull run1 $he average +ndian now
spends =14 times as mu%h on life insuran%e as what sKhe did seven years ago
when the industry was yet to be opened up for private parti%ipation1
:ith the largest number of life insuran%e poli%ies in for%e in the world,
+ndiaBs insuran%e se%tor a%%ounted for 411 per %ent of *'2 in 26"!, up from
112 per %ent in 1###"2, far ahead of China where insuran%e a%%ounts for &ust
11! per %ent of the *'2 and even the US where insuran%e penetration stands at
4 per %ent of the *'21
+ndians are now setting aside a larger %hun3 of their in%ome on life
insuran%e when measured as a per%entage of *'21 $hey are allo%ating a small
amount of their ta3e"home to buy insuran%e produ%ts given their rising equated
monthly installment D).+E payments for home mortgage and other loans1
$he growth in insuran%e premium %olle%tions has spelt an opportunity for
the equity mar3et too1 $he industryBs investment in the equity mar3et stood at
USL <>11 billion and the assets under management were at USL 1=216 billion as
on .ar%h <1, 2!1
+ndian insuran%e %ompanies re%orded a 1#1# per %ent growth in premium
in dollar terms Dad&usted for inflationE in 26"!, %ompared to the world mar3et
growth rate of 21# per %ent1 $his rate of growth of the industry loo3s parti%ularly
impressive when seen against the fa%t that the %ombined penetration of both life
and non"life is less than 2 per %ent of the *'2 %ompared to world average of
!1=2 per %ent1 Clearly, the s%ope for growth is enormous1
LIFE INSURANCE
5ed by the 5ife +nsuran%e Corporation D5+CE, the life insuran%e industry
registered a growth of 11 per %ent in fis%al 26"!, ta3ing the total business to
USL 1#12 billion from the previous yearBs USL #11 billion1 $he life insuran%e
mar3et has grown rapidly over the past si; years, with new business premiums
growing at over 4 per %ent per year owing to the entry of a host of new players
with signifi%ant growth aspirations and %apital %ommitments1
$he total life insuran%e mar3et premiums is li3ely to more than double
from the %urrent USL 4 billion to USL >"USL1 billion by 212, says a study
by .%Kinsey1 $he study titled B+ndia +nsuran%e 212C ?ortune ?avours the /old,B
e;pe%ts a rise in premiums between =11 and 612 per %ent of the *'2 in 212
from the %urrent 411 per %ent driven by greater insuran%e intensity per %apita as
the average per %apita in%ome in%reases and rise in penetration in urban and
rural areas1
$he life insuran%e premium %ontributions per %apita have &umped from a
little over USL ! in 1###"2 Dpre"liberalisationE to USL <>1= in 26"!1
5ife insuran%e penetration in +ndia " whi%h was less than 1 per %ent till
1##"#1 " in%reased to 21=< per %ent in 2=, and to < per %ent in 26"!1 $he
impetus for growth has %ome from both publi% and private insurers1 0lso, the
number of players in this segment has also in%reased to 1! D16 in private se%torE,
with 5ife +nsuran%e Corporation D5+CE being the dominant player Dmar3et share of
about !4 per %entE1
INNO7ATI7E TRENDS
+nsuran%e in +ndia has been spurred by produ%t innovation, streamlining of
sales and distribution %hannels along with targeted advertising and mar3eting
%ampaigns1
$he 3idBs insuran%e segment in the insuran%e se%tor is witnessing
in%reased a%tivity1 ChildrenBs produ%ts su%h as +C+C+ 2rudential 5ifeBs BSmartKidB,
/irla Sun 5ifeBs BChildrenBs 'ream 2lanB, or 6'?C Standard B5ifeBs Houng Star
2lusB, are on a %onsistent growth path1 0%%ording to industry estimates, %urrently,
2"< per %ent of business of many %ompanies %omes from %hildren"spe%ifi%
insuran%e poli%ies alone1
)merging lifestyle trends amid a %hanging fabri% of the +ndian so%iety have
also modified so%ial and finan%ial behaviour1 ?or instan%e, an in%rease in the
number of wor3ing women has led to a demand for life insuran%e poli%ies, whi%h
in turn has helped women through a mi%ro"entrepreneurship initiative Dwomen
have fle;ibility " managing home and being finan%ially independent as distributors
of insuran%eE1
T% R!a( A%a( . . . .
.ar3et penetration tends to rise as in%omes in%rease, parti%ularly in life
insuran%e1 +ndia, with its huge middle"%lass households and growing e%onomy
has e;hibited huge potential for this se%tor1 Current estimates say that, for every
one per %ent in%rease in the *'2, insuran%e premiums in%rease by at least 4 per
%ent1
$he domesti% insuran%e industry in +ndia is estimated to be around USL
61= billion by 21, of whi%h USL <= billion will %ome from rural and semi"urban
areas1 :hile the life insuran%e mar3et is e;pe%ted to grow to USL <= billion, non"
life insuran%e mar3et will tou%h an estimated USL 2= billion1
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD.
Kota3 .ahindra -ld .utual 5ife +nsuran%e is a !4C26 &oint venture
between Kota3 .ahindra /an3 5td1 and -ld .utual pl%1 Kota3 .ahindra -ld
.utual 5ife +nsuran%e is one of the fastest growing insuran%e %ompanies in +ndia
and has shown remar3able growth sin%e its in%eption in 211
0t Kota3 5ife +nsuran%e, we aim to help %ustomers ta3e important finan%ial
de%isions at every stage in life by offering them a wide range of innovative life
insuran%e produ%ts, to ma3e them finan%ially independent1
-ld .utual, a %ompany with 16 years e;perien%e in life insuran%e, is an
international finan%ial servi%es group listed on the 5ondon Sto%3 );%hange and
in%luded in the ?$S) 1 list of %ompanies, with assets under management
worth L 4 /illion as on <th Fune, 261 ?or %ustomers, this &oint venture
translates into a %ompany that %ombines international e;pertise with the
understanding of the lo%al mar3et1
PRODUCTS
INDI7IDUAL
• Kota3 Smart 0dvantage
• Kota3 )ternal 5ife 2lans
• Kota3 2latinum 0dvantage 2lan
• Kota3 6eadstart Child 2lans
• Kota3 Su3hi Feevan 2lan
• Kota3 2rivileged 0ssuran%e 2lan
• Kota3 $erm 2lan
• Kota3 2referred $erm 2lan
• Kota3 .oney /a%3 2lan
• Kota3 Child 0dvantage 2lan
• Kota3 )ndowment 2lan
• Kota3 Capital .ultiplier 2lan
• Kota3 (etirement +n%ome 2lan
• Kota3 (etirement +n%ome 2lan
DUnit"lin3edE
• Kota3 Safe +nvestment 2lan ++
• Kota3 ?le;i 2lan
• Kota3 )asy *rowth 2lan
• Kota3 2remium (eturn 2lan
• (iders
5ROUP
• )mployee /enefits
• Kota3 $erm *rouplan
• Kota3 Credit"$erm *rouplan
• Kota3 Complete Cover *rouplan
• Kota3 *ratuity *rouplan
• Kota3 Superannuation *rouplan
RURAL
• Kota3 *ramin /ima Ho&ana
TABLE 2
TABLE SHOWIN5 WHETHER THE RESPONDENTS ARE ASSOCIATED WITH
KOTAK MAHINDRA 5ROUP
NO OF RESPONDENTS PERCENTA5E
H)S 1= 1#
,- 6= >1
TOTAL 80 200
INTERPRETATION/
?rom the above table it is inferred that >1A of the respondents are not
asso%iated with Kota3 .ahindra group and 1#A of the respondents are
asso%iated with Kota3 .ahindra group1
CHART 2
TABLE :
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E TAKEN LIFE
INSURANCE POLICIES
,- -? ()S2-,'),$S 2)(C),$0*)
H)S => !2
,- 22 2>
$-$05 > 1
INTERPRETATION/
?rom the above table it is %lear that !2A of the respondents have ta3en
life insuran%e poli%ies and 2>A has not ta3en life insuran%e poli%ies1
CHART :
TABLE 4
TABLE SHOWIN5 WHETHER THE RESPONDENTS ARE AWARE OF THE
POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA
,- -? ()S2-,'),$S 2)(C),$0*)
H)S != #4
,- = 6
$-$05 > 1
INTERPRETATION/
?rom the above table it is shown that #4A of the respondents are aware
of the potential of life insuran%e industry in +ndia and 6A of the respondents are
not aware of the potential of life insuran%e industry in +ndia1
CHART 4
TABLE ;
TABLE SHOWIN5 WHETHER THE RESPONDENTS THINK THAT
INSURANCE IS A 5OOD IN7ESTMENT PLAN
,- -? ()S2-,'),$S 2)(C),$0*)
H)S !2 #
,- > 1
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that #A of the respondents thin3 that
insuran%e is a good investment option and 1A of the respondents thin3 that
insuran%e is not a good investment option1
CHART ;
TABLE <
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E CONSIDERED
SELLIN5 INSURANCE AS AN ADDITIONAL BUSINESS OPTION
,- -? ()S2-,'),$S 2)(C),$0*)
H)S <6 4=
,- 44 ==
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that ==A of the respondents have
%onsidered selling insuran%e as an additional business option and 4=A of the
respondents has not %onsidered selling insuran%e as an additional business
option1
CHART <
TABLE =
TABLE SHOWIN5 WHETHER THE RESPONDENTS ARE DEALIN5
WITHNOR SELLIN5 LIFE INSURANCE PRODUCTS OF ANY COMPANY
,- -? ()S2-,'),$S 2)(C),$0*)
H)S <! 46
,- 4< =4
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that =4A of the respondents are not
dealing with or selling life insuran%e produ%ts of any %ompany and 46A of the
respondents are dealing with or selling life insuran%e produ%ts of any %ompany1
CHART =
TABLE 1
CHART SHOWIN5 WHETHER THE RESPONDENTS KNOW THAT THEY CAN
EARN UPTO ;0> OF THE FIRST YEAR PREMIUM AS COMMISSION
,- -? ()S2-,'),$S 2)(C),$0*)
H)S << 41
,- 4! =#
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that =#A of the respondents don8t 3now
that they %an earn upto 4A of the first year premium as %ommission and 41A of
the respondents 3now that they %an earn upto 4A of the first year premium as
%ommission
CHART 1
TABLE 8
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E HEARD OF
KOTAK HEAD START? NO.2 CHILD PLAN RATED BY @OUTLOOK MONEY@
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 2= <1
,- == 6#
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that 6#A of the respondents has not
heard of Kota3 head start, no11 %hild plan rated by Boutloo3 moneyB and <1A of
the respondents have heard of Kota3 head start, no11 %hild plan rated by Boutloo3
moneyB
CHART 8
TABLE 3
TABLE SHOWIN5 WHETHER THE RESPONDENTS HA7E HEARD ABOUT
KOTAK SAFE IN7ESTMENT PLAN? WHICH IN7ESTS UPTO 80> OF THE
FUND IN EAUITY MARKET? STILL 5I7IN5 CAPITAL 5UARANTEE
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 4< =4
,- <! 46
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that =4A of the respondents are have
heard about 3ota3 safe investment plan, whi%h invests upto >A of the fund in
equity mar3et, still giving %apital guarantee and 46A of the respondents has not
heard about 3ota3 safe investment plan, whi%h invests upto >A of the fund in
equity mar3et, still giving %apital guarantee1
CHART 3
TABLE 20
TABLE SHOWIN5 WHETHER THE RESPONDENTS KNOW ABOUT THE
EARNIN5 POTENTIAL BY SELLIN5 LIFE INSURANCE PRODUCTS
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 6# >6
,- 11 14
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that >6A of the respondents 3now
about the earning potential by selling life insuran%e produ%ts and 14A of the
respondents %hart showing whether the respondents don8t 3now about the
earning potential by selling life insuran%e produ%ts1
CHART 20
TABLE 22
TABLE SHOWIN5 WHETHER THE RESPONDENTS KNOW THAT THERE IS
NO CAPITAL REAUIREMENT FOR STARTIN5 INSURANCE DISTRIBUTION
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 6= >1
,- 1= 1#
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that >1A of the respondents 3now that
there is no %apital requirement for starting insuran%e distribution and 1#A of the
respondents 3now that there is no %apital requirement for starting insuran%e
distribution1
CHART 22
TABLE 2:
TABLE SHOWIN5 WHETHER THE RESPONDENTS LIKE TO ASSOCIATE
WITH KOTAK LIFE INSURANCE
,- -? ()S2-,'),$S 2)(C),$0*)
H)S 2 2=
,- 6 !=
$-$05 > 1
INTERPRETATION/
?rom the above table it is inferred that !=A of the respondents li3e to
asso%iate with 3ota3 life insuran%e and 2=A of the respondents do not li3e to
asso%iate with 3ota3 life insuran%e1
CHART 2:
FINDIN5S
? .a&ority of the %ustomers are not asso%iated with the Kota3 group
%ompanies1 -nly 1#A are asso%iated with Kota3 group %ompanies1
? +t is found that around !2A of the respondents have ta3en any life
insuran%e poli%y from several life insuran%e %ompanies and the rest are
not insured1
? +t is found that #4A of the respondents are aware of the potential of life
insuran%e industry in +ndia and 6A of the respondents are not aware of
the potential of life insuran%e industry in +ndia1
? .a&ority of the respondents thin3 that insuran%e is a good investment
option be%ause of high returns and less ris31
? +t is found that ==A of the respondents have %onsidered selling insuran%e
as an additional business option and 4=A of the respondents has not
%onsidered selling insuran%e as an additional business option1
? +t is found that =4A of the respondents are not dealing with or selling life
insuran%e produ%ts of any %ompany and 46A of the respondents are
dealing with or selling life insuran%e produ%ts of any %ompany1
? 0lmost all the %ustomers are satisfied with servi%es provided by their
insurer1
? 0round =#A of the respondents don8t 3now that they %an earn upto 4A
of the first year premium as %ommission and 41A of the respondents
3now that they %an earn upto 4A of the first year premium as
%ommission1
? .a&ority of the respondents are not aware of Kota3 head start, no11 %hild
plan rated by Boutloo3 moneyB1
? .a&ority of the respondents have heard about 3ota3 safe investment plan,
whi%h invests upto >A of the fund in equity mar3et, still giving %apital
guarantee1
? .a&ority of the respondents do not want to asso%iate with 3ota3 life
insuran%e1
SU55ESTIONS
? $he %ompany has to spend more on mar3eting e;penses to in%rease
awareness among population on Kota3 head start, no11 %hild plan rated by
Boutloo3 moneyB and 3ota3 safe investment plan1
? $he %ompany has to identify segments su%h as ,(+8s,house wives and
pensioners to in%rease the penetration among life insuran%e advisors1
? $he %ompany has to %on%entrate more on a%quiring people who are
asso%iated with other insuran%e %ompanies to penetrate the mar3et1
? $he %ompany has to go in"depth into the %ustomer data base of 3ota3
group %ompanies to a%quire more %ustomers1
? 2roper advertisements and %lear"%ut pi%ture about the s%hemes are to be
provided to attra%t %ustomers1
LIMITATIONS
2. DIFFICULT TO 5ET APPOINTMENT
*etting the appointment to spea3 about produ%t and %ompany is a
6er%ulean tas3 in the modern world be%ause of the he%ti% s%hedule of the
business people as the target group is 6igh ,et
rth1 :. TIME CONSTRAINT
?or getting better results, the resear%her has to s%hedule their wor3
beyond the allotted time1 /ut this %annot be possible in all %ir%umstan%es1 +n
many o%%asions meeting lo%ation of the people might be different1 $his
%onsumes lot of time of a day and it minimi9es the wor3 s%hedule1 0nd there is a
big time gap in ma3ing a 3ind of good relationship with %ustomers whi%h ma3es a
strong basement for doing survey1 So it is very diffi%ult to get business in initial
stages1 +n this way there is a lose of opportunities for ma3ing business1 $raveling
though out the %ity and its traffi% blo%3s are another barriers in the survey1
4. SIN5LE BRANCH OPERATIONS AND DIFFERENTIATED FACILITIES AND
SER7ICE
.any times the single bran%h operations are not %onvenien%e for the
%ustomers espe%ially the people who are doing business with other lo%ations1
:hen there is a %ompany introdu%ing new fa%ilities and servi%e, it ta3es a quiet
bit of time to get faith of the people1
CONCLUSION
-n a whole the pro&e%t is a eye opener towards the pra%ti%al side of the
business s%enario1 $he 3nowledge a%quired through %lassroom sessions %ould
be put to use in a real pra%ti%al world1 $his serves as the right platform for
professional development1 $he first hand e;perien%es of the %orporate
atmosphere and the %ulture pra%ti%ed gave an insight into the true professional
attitude1
0s a result of the hard"%ore wor3 and efforts made t over%ome many
hurdles and obsta%les on the path of the pro&e%t wor3, better results are obtained
and the %ompany reali9es the results of our wor3 through the materiali9ation of
sales of their produ%t1 0lso from the responses of the publi% that is %onveyed to
the organi9ation as a part of pro&e%t wor3, really help the %ompany in their wor3
pro%ess1 +n this way itself many %ustomer %omplaints are sold up to a remar3able
e;tent1 $he types of mar3eting strategies adopted by us really help the
organi9ation to boost up their brand image and there by resulted in better returns1
REFERENCES
BOOKS
11 B.ar3eting .anagement@ M 26+5+2 K-$5)(
21 4+ntrodu%tion to Juantitative .ethods@ M C1(1K-$60(+
WEBSITE
www13ota31%om
www1indiainfoline1%om
www1wi3epedia1%om
AUESTIONNAIRE
'ate of data %olle%tion C
,ame of the %on%erned person, designation C
,ame of the %ompany C
Conta%t address
11 6ave you asso%iated any way with Kota3 .ahindra *roupN
Hes no
21 6ave you ta3en life insuran%e poli%iesN
Hes no
+f yes, with whi%h %ompanyN111111111111111111111111111111111111111111111111111111111
+f no, would you li3e to ta3e nowN11111111111111111111111111111111111111111111111111
<1 0re you aware of the potential of life insuran%e industry in +ndiaN
Hes no
41 'o you thin3 that insuran%e is a good investment optionN
Hes no
=1 6ave you %onsidered selling insuran%e as an additional business optionN
Hes no
61 0re you dealing with, or selling life insuran%e produ%ts of any %ompanyN
Hes no
+f yes, with whi%h %ompanyN111111111111111111111111111111111111111111111111111111111111111111
+f no,would you li3e to start insuran%e distributionN1111111111111111111111111111111
!1 0re you satisfied with the servi%e and support they provideN
Hes no
>1 'o you 3now you that you %an earn up to 4A of the first year premium as
%ommissionN
Hes no
#1 0re u aware that there is no %apital required for starting life insuran%e
distributionN
Hes no
11 6ave u heard about Kota3 safe investment plan whi%h invest up to >A of
the fund in equity mar3et but still gives %apital guaranteeN
Hes no
111 6ave you heard about Kota3 6ead Start, ,o11Child plan in +ndia rated by
outloo3 moneyN
Hes no
121
uld you li3e to get asso%iated with Kota3 life insuran%eNHes no
C Tan- y!u C
doc_591870151.doc