bajaj life insurance

7/27/2019 Bajaj Life Insurance

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PROJECT REPORT

ON

COMPARATIVE ANALYSIS O F CHILD GAIN PLANWITH SPECIAL REFERENCE TO BAJAJ

ALLIANZ LIC LTD.

CONDUCTED AT

BAJAJ ALLIANZ LIFE INSURANCE COMPANY, JAGADHRI.

BAJAJ ALLIANZ

LIFE INSURANCESubmitted to:Kurukshetra University, KurukshetraIn the partial fulfillment of

MBA (Master of Business Administration)Session (2004-2006)

Submitted By:Gaurav GroverRoll No 156/04

MBA- (F)


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ACKNOWLEDGEMENT

Dur ing the cou r se o f s t ud i e s one has t o unde r go the t r a in ingwhich i s cons ide red to be t he s t epp ing s tone on a move made

towards ones profess iona l career.

I w i sh t o exp re s s my g ra t i t ude t o t he fo l l owing p ro fe s s iona l s

o f Ba ja j A l l i anz who were i n s t rumen ta l i n p rov id ing me th i s

t ra in ing re la ted to the ch i ldren educa t ion p lanning .

M y s p e c i a l t h a n k s t o e s t e e m e d M r. A s h i s h S h a r m a ( S . D . M . )

for h i s inva luable suppor t and guidance dur ing t ra in ing per iod

a nd s u pe rv is i ng m y w or k v er y e ar ne s tl y. H e p ro v id ed m e

ample oppor tun it i e s t o i n t e rac t w i th peop le, wh ich he lped me

to learn the sk i l l s such as Convinc ing people .

L e t m e a t t h e o u t s e t e x p r e s s m y s i n c e r e t h a n k s t o M r. A m i t

Mi t ta l , Whose gu idance he lped me in prepar ing my pro jec t .

Gaurav Grover

(MBA )


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PREFACE

Prac t ica l t ra in ing i s a lways impor tan t as c lass room t ra in ing . Dur ing

the prac t ica l t ra in ing a person i s ac tua l ly face the rea l s i tua t ions in

ac tua l work ing l i f e wh ich he / she can no t expe r i enced in c l a s s room

It he lps to unders tand the complexi t ies o f l a rge sca le organiza t ions .

I t p rovide the inva luable t reasure of exper ience to s tudent .

Dur ing my t r a in ing , I go t oppor tun i ty t o work ing o f Ba ja j A l l ianz

L i f e In su rance company L td . , r eg iona l b r anch Jagadhr i . My top i c

of pro jec t i s Compar i son of Chi ld Gain P lan wi th o ther companies

p lna wi th spec ia l re fe rence to Baja j All ianz . I worked on the

fo l lowing aspec ts :

Brand Awareness

Compar ison o f Ba ja j A l l i anz w i th o the r p r iva t e p l aye r s i nLi fe Insurance sec tor.

Inves tment Cr i te r ia


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INTROCUTION TO INSURANCE

What i s Insurance?

" I n s u r a n c e i s a c o n t r a c t b e t w e e n t w o p a r t i e s w h e r e b y o n e p a r t y

c al le d i ns u re r u nd er ta ke s i n e xc ha n ge f or a f ix ed s u m c al le d

p remiums , to pay the o ther par ty ca l led insured a f ixed amount of

money on the happening of a cer ta in event . "

I ns u ra nc e i s a p ro te ct io n a ga in s t f in an ci al l os s a ri si ng o n t he

h a p pe n in g o f a n u n ex p e ct e d e v en t . I n s ur a nc e c o mp a ni e s c o ll e ct

p remiums to p rovide fo r th i s p ro tec t ion . A los s i s pa id ou t o f the

p remiums co l lec ted f rom the insur ing pub l ic and the Insurance

Companies ac t as t rus tees to the amount co l lec ted .

F or E xa mp le , i n a L if e P ol ic y, b y p ay in g a p re mi um t o t he

I ns ur er , th e f am ily o f t he i ns ur ed pe rs on r ec ei ve s a f ix ed

compensa t ion on the dea th of the insured .

S imi la r ly, in car insurance , in the event o f the car meet ing wi th an

acc iden t , t he i n su red r ece ives t he compensa t ion to t he ex t en t o f

damage .

I t i s a s y s t e m b y w h i c h t h e l o s s e s s u f f e r e d b y a f e w a r e s p r e a d

over many, exposed to s imi la r r i sks .

Why should you take Insurance ?

In su rance i s de s i r ed t o s a f egua rd onese l f and one ' s f ami ly aga ins t

poss ib le los ses on account of r i sks and per i l s . I t p rovides


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f in an ci al c om pe ns at io n fo r t he l os se s s uff er ed d ue t o t he

happening of any unforeseen events .

By tak ing l i fe insurance a pers on can have peace of mind and need

n ot wo rr y a bo ut t he f in an ci al c ons eq ue nc es i n ca se o f an y

unt imely dea th .

C er ta in I ns ur an ce c on tr ac ts a re a ls o ma de co mp ul so ry b y

leg is la t ion . For example , Motor Vehic les Act 1988 , s t ipu la tes tha t

a p e r s o n d r i v i n g a v e h i c l e i n a p u b l i c p l a c e s h o u l d h o l d a v a l i d

i ns ur an ce p ol ic y c ov er in g " A ct " r is ks . A no th er e xa mp le o f

c o mp u ls o r y i n s ur a nc e p e rt a in s t o t h e E n vi r on m en t al P r ot e ct i on

Ac t , whe re in a pe r son us ing o r ca r ry ing haza rdous subs t ances ( a s

def ined in the Act ) mus t ho ld a va l id publ ic l i ab i l i ty (Act ) po l icy.

Who provides Insurance?

I n I n di a , p r io r t o l i be r al i za t io n I n s ur a nc e p r ot e ct i on w as m a de

a v a il a bl e t h ro u g h P u bl i c s e ct o r I n s ur a nc e C o mp a ni e s, n a me l y,Li fe Ins urance Corpora t ion of Ind ia (LIC) and the four

subs id ia r ies of Genera l Insurance Corpora t ion of Ind ia (GIC) .

B y t h e p a s s i n g o f t h e I R D A B i l l , t h e I n s u r a n c e s e c t o r h a s b e e n

opened up for p r iva te companies to car ry on Insurance bus iness .

What i s the procedure to obta in insurance?

The s imples t p rocedure to ob ta in insurance i s :

1 . Approach the Insurance Companies d i rec t ly o r

t hr ou gh I ns ur an ce a ge nt s o f t he c on ce rn ed c om pa ni es o r

th rough In te rmediar ies .


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2 . Complet e a p roposa l fo rm g iv ing fu l l de t a i ls .

3 . Submit Da te o f B i r th Cer t i f ica t e and o the r r e l evan t documen t s .

I ns ur an ce c on tr ac ts a re b as ed o n g oo d f ai th i .e . t he d et ai ls

fu rn i shed by the p ropose r a r e accep ted in good f a i t h and th i s w i l l

form the bas i s o f the cont rac t .

What are the o ther a l te rna t ives to Insurance ?

One a l t e rna t ive t o In su rance i s t o p rov ide s e l f - In su rance i . e . t he

ind iv idua l has to c rea te a fund to meet r i sk ex igenc ies .

Spec i fi ed t ru s t s have a l so t r i ed t o p rov ide i n su rance by a s cheme

of se l f - insurance . However, these a re no t very popular.

The pos ta l depar tment provides Insurance coverage to a l l work ing people .

The re a r e many f inanci a l i n s t rument s wh ich advoca te s av ings and

p rovide fu ture re turns a t spec i f ic in te rva ls such as the provident

fund and pens ion p l ans . Howeve r, none o f t he se p rov ide fo r l i f e

coverage .

What are the o ther benef i t s of tak ing Insurance?

1 . Tax Re l i e f : Under Sec t ion 88 o f Income Tax Ac t , a po r t i on

of premiums pa id for l i fe insurance po l ic ies a re deducted f rom


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t ax l ia bi li ty. S im il ar ly, e xe mp ti on i s a va il ab le f or H ea lt h

Insurance Pol icy premiums.

a . Money pa id a s c la im includ ing Bonus under a l i f e pol i cy

i s e xe mp te d f ro m p ay me nt o f I nc om e Tax . H ow ev er

a nn ui ti es r ec ei ve d u nd er c er ta in p en si on p la ns a re

taxable .

2 . Encourages Savings : An insurance scheme encourages th r i f t

amo ng ind iv idua ls . I t incu lca tes the hab it o f s av ing

c o mp u ls o ri l y, u n li k e o t he r s a vi n g i n st r um e nt s , w h er e in t h e

saved money can be eas i ly wi thdrawn.

3 . The bene f i c i a r i e s t o an i n su rance c l a im amoun t a r e p ro t ec t ed

f rom the c la ims of c red i tors by a ffec t ing a va l id ass ignment .

4 . Fo r a p ol ic y t ake n u nd er t he MW P Ac t 1 87 4, ( Ma rr ie d

Women 's Proper ty Act ) , a t rus t i s c rea ted for wi fe and ch i ldren

as benef ic ia r ies .

5 . L i fe P o li c ie s a r e a c c e pt e d a s a s e cu r it y f o r a l o an . T h ey c a n

a lso be sur rendered for meet ing unexpec ted emergenc ies .

6 . B a s e d o n t h e c o n c e p t o f s h a r i n g o f l o s s e s , t h e s o c i e t y w i l l

benef i t as ca tas trophic los ses a re spread g loba l ly .


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INSURANCE REGULAYTORY & DEVELOPMENT

AUTHORITY (IRDA) ACT, 1999.

Under th i s Act an au thor i ty ca l led IRDA has been se t up .

Th i s i s a co rpo ra t e body e s t ab l i shed fo r t he pu rpose fo r t he

purpose and objec ts as se t ou t in the explana t ion to the

t i t l e .

T he a ut ho ri ty r ep la ce s co nt ro ll er u nd er I ns u ra nc e A ct

1938.

The f i r s t schedule amends Insurance Act 1938 .

I t s ta tes th at i f au thor i ty is superced ed by Cent ra l

Gove rnmen t , t he Con t ro l l e r o f i n su rance may be appo in t ed

t i l l such t ime as au thor i ty i s recons t i tu ted .

CONSTITU TION OF IRDA :

The Insu rance Regu lato ry Development Au tho ri t y cons i s ts o f

the fo l lowing members :

Chai rperson

Less than f ive whole t ime members

Less than four par t t ime members

a ) M emb er s s ho ul d b e p er so ns o f ab il it y i nt eg ri t y a nd

s tanding


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b ) They should have an exper ience in the f ie lds of

1 ) L i fe in s u ra n ce

2 ) G e ne r al I n su r an c e

3 ) A c tu a ri a l S ci e nc e

4 ) F in an ce

5 ) E co no mi cs

6) Law

7 ) A cc ou nt an cy

8 ) A d mi n is t r at i on

C h ai rp er so n, m em be rs o ff ic er s a nd o th er e mp lo ye es o f

Author i ty sha l l be publ ic se rvant .

FUNCTIONS OF IRDA

1 . To p ro te ct t he i nt er es t o f p ol ic y h o l de rs i n t h e m at te r o f

insurance cont rac t wi th the company.

2 . To s pe ci fy r eq ui si te q ua li fi ca ti on , c od e o f c on du ct a nd

t ra in ing for insurance in te rmediar ies and agents .

3 . To spec ify code o f conduc t fo r su rveyors / l o s s a s se s so r s .

4 . To p romote e ff i c i ency in t he conduc t o f i n su rance bus ines s .


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5. To promote an d regula te profes siona l o rganiza t ion

connec ted wi th the insurance and re insurance bus iness .

6 . To unde r t ake i n spect ion , conduc t enqu ir e s and inves ti ga t ion

inc luding audi t o f insurers and insurance in te rmediar ies .

7 . To con t rol and r egu la r t he r a t es , t e rms and cond i t ions t o be

o ff e r ed by the i n su re r r ega rd ing gene ra l i n su rance bus ines s

no t so con t ro l l ed by Ta r i f f Adv i so ry Commi t t ee u / s 604 o f

Insurance Act , 1938 .

8 . To regu la te in ves tment of funds by the ins urancecompanies .

9 . To a d ju d ic a te d i sp u te b e tw e en i n s ur e rs a n d i n t e r me d ia r ie s

of insurance .

LIFE INSURANCE CORPORATION OF INDIA ACT,1956

L if e i ns u ra nc e b us i ne ss w as n at io n al iz ed i n I n di a w it h

effec t f rom 19 t h January 1956 .

T he l if e i ns u ra nc e b us i ne s s o f 1 54 I n di an l if e o ff ic er s

c o n s t i t u t e d b y 1 6 n o n - I n d i a n i n s u r e r s o p e r a t i o n i n I n d i a n

a n d 7 5 p r o v i d e n t s o c i e t i e s w a s t a k e n o v e r b y t h e G o v t o f

Ind ia .

L IC o f Ind i a Ac t was pas sed by the Pa r l i amen t on 16 t h June

1956 and i t came in to e ffec t f rom 1 s t Ju ly 1956 .


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LIFE INSURANCE IN INDIA

Li fe In su rance i n i t s ex i s t i ng fo rm came to Ind i a fo rm the Un i t ed

K i n g d o m w i t h t h e e s t a b l i s h m e n t o f a B r i t i s h f r o m O r i e n t a l L i f e

I n s u r a n c e C o m p a n y i n C a l c u t t a i n 1 8 1 8 f o l l o w e d b y B o m b a y L i f e

Assu rance Company in 1823 .

The Ind i an L i f e Assu rance Compan ie s Ac t , 1912 was t he f i r s t

s t a tu to ry measu re t o r egu la t e l i f e i n su rance bus ines s . La t e r i n 1928t h e I n di a n I n su r an c e C o m p an i es A c t w a s e n ac t ed t o e n ab l e t h e

G o v e r n m e n t t o c o l l e c t s t a t i s t i c a l i n f o r m a t i o n a b o u t b o t h l i f e a n d

n on -l if e i ns ur an ce b us in es s t ra ns ac te d i n I nd ia b y I nd ia n a nd

f o r e i g n i n s u r e r s i n c l u d i n g p r o v i d e n t i n s u r a n c e s o c i e t i e s . I n 1 9 4 8

w i t h a v i e w t o p r o t e c t i n g t h e i n t e r e s t o f i n s u r i n g p u b l i c e a r l i e r

l eg is la ti on w as c on so li da te d a nd e ff ec ti ve c on tr ol o ve r t he

ac t iv i t i e s o f i n su re r s .

T he A ct w as a me nd ed i n 1 95 0 r es ul ti ng i n f ar r ea ch in g

c ha ng er i n t he i ns ur an ce s ec to r. T he se i nc lu de d a s ta tu to ry

r eq ui re me nt o f e qu it y c ap it al f or c om pa ni es c ar ry in g o n l if e

i n s u r a n c e b u s i n e s s , c e i l i n g o n s h a r e h o l d i n g s i n s u c h c o m p a n i e s ,

s t r i c t e r c o n t r o l o n i n v e s t m e n t s , s u b m i s s i o n o f p e r i o d i c a l r e t u r n s

r ela tio n to i nv es tmen ts an d s uc h o the r in fo rma ti on to th e

c on tr ol le r. T he c on tr ol le r c ou ld a ls o c al l f or a pp oi nt me nt o f

a d m i n i s t r a t o r s a n d p u t a c e i l i n g o n e x p e n s e s o f m a n a g e m e n t a n d

agency commiss ion fo r mi smanaged compan ie s .


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B y 1 95 6, 1 54 I nd ia n i ns u re rs , 1 6 f or ei gn i ns ur er s a nd 7 5

p rov ident s oc ie t i es were ca r ry ing on l i f e in su rance bus ines s i n

Ind ia . L i f e In su rance bus ines s was concen t r a t ed i n u rban a r ea s and

c o n f i n e d t o t h e h i g h e r s t r a t a o f t h e s o c i e t y. O n J a n u a r y 1 9 , 1 9 5 6

t he m an ag em en t o f L if e I ns ur an ce b us in es s o f 2 45 I nd ia n a nd

f o re i gn i n su r er s a n d p r ov i de n t s o ci e ti e s t he n o p er a ti n g i n I n di a

w as ta ke n ov er by t he C en tr al Go ve rn men t. L i fe In sur an ce

C orpora t ion was fo rmed in Sep tember 1956by an Ac t o f

Pa r l i amen t , v i z . L IC Ac t 1956 wi th a cap i t a l con t r ibu t ion o f Rs 50

mi l l i on .

Then the F inance Min i s t e r MR C .D . Deshmukh wh i l e p i l o t i ng

the b i l l f o r na t i ona l i za t i on ou t l i ned the ob j ec t i ve s o f L IC thus :

T O C O ND U C T T HE BU S I N E S S WI T H U T OM OS T

E CON O MY WI T H T H E S PI RI T OF TR U S T E E SHI P; T O

C HA RG E P RE MI UM N O H IN NE R T HA N WAR RA NT ED B Y

S TR IC T A CT UR AL C ON SI DE RTI ON ; T O I NV ES T T HE

F U N D S FO R OB TAI NI N G M A X I M U M Y I E L D F OR T HE

P O L I C Y H O L D E R S C O N S I S T E N T W I T H S A F E T Y O F C A P I TA L ;

TO R E N D E R P R O M P T A N D E F F I C I E N T S E RV I C E TO P O L I C Y

H OL D E R S THE R B Y M A KI N G I N S U R A NC E WI D E L Y

P O P U L A R .


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OBJECTIVES OF STUDY

I n a ll h um an a ct iv it ie s b e i t i nd us tr y o r t ra de , c om me rc e a nd

i n s u r a n c e , m a n i s t h e s o u r c e a n d p i v o t o f a c t i o n a l l s y s t e m s t a r t

w i th man and end wi th man .

T h e r e i s n o s u b s t i t u t e f o r h u m a n v i s i o n , h o n e s t y c o m m i t m e n t a n d

d e d i c a t i o n . T h e s e f a c t o r s a p p l y e q u a l l y t o t h e f a m i l y u n i t w h e r e

pa ren t s have to th ink in te rms o f s ecu r ing be t te r fu tu re fo r t he i r o ff sp ri ng b e i t s ec ur in g c hi ld re n u ni nt er ru pt ed e du ca ti on t ha t

p r imary midd le h ighe r ad p ro fe s s iona l educa t ion .

I f o c u s o n t h e f o l l o w i n g a s o b j e c t i v e s o f m y p r o j e c t : -

1 . To co v e r i n g en e r a l a b o u t c o n ce p t o f i ns u r a nc e .

2 . To e xp l or e t he c o nc e pt o f i ns u ra n ce l i nk e d po l ic y t ow a rd

educa t ion .

3 . To s tu d y h o w i n s u ra n c e b e n e fi t ch i l d re n e du c a ti o n .

4 . To s tu dy t h e le ve l of a wa re ne ss a m on g t he p eo pl e wi th

spec i a l r e f e r ence t he peop le o f Yamuna Naga r & Jagadhr i .


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m a t te r o f i n s u ra n c e. T h e f o l l o w in g p r i n ci p l es a r e a c c e p t ed i n l i f e

in su rance :

H u s ba n d h a s a n i n s u r a b le i n t e r e s t o n t h e l i f e o f h i s w i f e a n dv ice ve r sa .

Pa ren t s have i n su rab l e i n t e r e s t i n t he l i f e o f t he ch i ld .

Cred i to r s have i n su rab l e i n t e r e s t on t he l i ve s o f t he deb to r s .

Bus ines s pa r tne r s have i n su rab l e i n t e r e s t i n t he l i ve s o f o the r

pa r tne rs t o t he ex t en t o f t he i r f i nanc ia l in t e r es t i n t he par tne r sh ip .

E m p l o y e r s h a v e i n s u r a b l e i n t e r e s t i n t h e l i v e s o f e m p l o y e e s

who a re key to t he p ro f i t ab i l i t y o f t he bus ines s .

D O C T R I N E O F U T M O S T G O O D FA I T H : I n l i f e i n su rance a

c on tr ac t, a v er y h ig h d eg re e o f g oo d f ai th i s r eq ui re d t o e xi st

be tween the pa r t i es to t he con t r ac t v i z , the i ns ure r and the ins u red .

T h i s i s c a l l e d p r i n c i p l e o f u t m o s t g o o d f a i t h . I n o t h e r w o r d s i t i s

t h e d u t y o f t h e p r o p o s e t o d i s c l o s e a l l m a t e r i a l i n f o r m a t i o n f o r

p roper a s ses s ment o f r i s k by the in s ure r .

P R IN C I PL E O F I N DE M NI T Y : I t s ta te s t ha t t he a mo un t payable by the i ns ure r i n ca se o f cont ingency s ta ted in the po l i cy

occu r r ing i s l im i t ed t o t he l o s s t ha t t he i n su red wi l l su ff e r.

3 ) R ES EA RC H D ES IG N I NC LU DI NG S AM PL E D ES IG N:


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Resea rch des ign i s t he a r r angemen t o f cond i t i ons fo r co l l ec t i on and

a n a l ys i s o f d a t a i n a m a t te r t h a t a i m s t o c o m bi n e r e l e v an c e t o t h e

r e se a rc h p u rp o s e w i th e co n om y i n p r oc e du r e. I t c o ns t it u te s t h e

b lue pr in t fo r t he co l lec t ion , measu remen t and ana lys i s o f da ta .

The des ign was l i ke :

S o u r c e s o f d a t a :

P r i m a r y s o u r c e : T h e f r e s h d a t a w h i c h i s p u r e l y c o l l e c t e d f o r t h e

pu rpos e o f t he p ro jec t . I t inc luded me thods l ike :

A. Pe rs ona l i n t e rv i ew

B. Ques t ionna i r e

S e c o n da r y s o u r ce : D a t a t h a t a r e a v a i l a b l e i . e . t h e y r e f e r t o t h e

d a t a w h i c h h a v e a l r e a d y b e e n c o l l e c t e d a n d a n a l y z e d b y s o m e o n e

e l s e . W h e n o n e u t i l i z e s s e c o n d a r y d a t a , t h e n h e h a s l o o k i n t ova r ious sou rces f rom where he can ob t a in t hem. These a r e l i ke :

A. Produc t manua l

B . Annua l r epo r t s

C . Publ i s hed a r t ic le s

D. Brochure

E. Tra in ing handbook

S a m p l i n g : I t i s a t e chn ique o f co l l ec t i ng i n fo rma t ion by enqu i r ing

a p a r t o f p o p u l a t i o n . T h i s w a s d o n e d u e t o t h e s c a r c i t y o f f u n d s ,

t ime and o the r r e sou rces .


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T E C H N I Q U E U S E D : Conven ience Sampl ing

S A M P L E S I Z E : 100Responden t s

4 ) D A T A C OL L EC T I O N :

D a t a f o r t h e p u r p o s e o f c a l l i n g t h e c l i e n t s w a s g e n e r a t e d t h r o u g h

D i r e c t m a r k e t i n g , i n Ya m u n a N a g a r s w e r e h e n c e f o r t h m a d e t o

va r ious pe r sons i n o rde r t o gene ra t e r e f e r ence .

T h e c u s t o m e r w a s r e q u i r e d t o b r i n g f o l l o w i n g d o c u m e n t s :

Age p roo f o f k id and l i f e a s su red

Sa la ry s l i p o f p ropose r

S igna tu re on app l i ca t i on fo rm

Cheque in f avo r s o f ICICI PRUDENTIAL LIFE INSURANCE

COMPANY LTD.

I f t he cus tomer was e l i g ib l e fo r po l i cy he was g iven po l i cy.

5 ) A N A L Y S I S OF D A T A : I t i nv ol ve s e di ti ng , c od in g,c l a s s i f i ca t i on and t abu la t i on o f co l l ec t ed da t e .

E d i t i n g : I t i s p r o c es s o f e x a m i n in g t h e c o l l e c te d r a w d a t a

t o d e t e c t e r r o r s a n d o m i s s i o n s a n d t o c o r r e c t t h e s e w h e n

poss ib l e .


21/71

C o d i n g : I t r e f e r s t o t h e p r o c e s s o f a s s i g n i n g n u m e r a l s o r

o the r symbo l s t o answer s so t ha t r e sponses can be pu t i n to a

l imi t ed number o f ca t ego r i e s o r c l a s se s .

C l a s s i f i c a t i o n : I t means a r rang ing the homogenous

in fo rma t ion a t one p l ace . He re , I a r r anged the da t a i n g roups

o r c l a s se s on the bas i s o f common cha rac t e r i s t i c s .

Ta b u l a t i o n : I t means a r r ang ing the l a rge da t a i n some k ind

of l og i ca l o rde r. I t i s a p roces s o f summar i z ing r aw da t a and

d i sp l ays t he s ame in compac t fo rm fo r fu r the r ana lys i s .

I n t e r p r e t a t i o n a n d r e p o r t w r i t i n g :

I t r e f e r s t o t he t a sk o f d r awing in fe r ences f rom the co l l ec t ed

fac t s a f t e r an ana ly t i ca l o r expe r imen ta l s t udy. I t i s a s ea rch

fo r b roade r mean ing o f r e sea rch f i nd ings .

Repor t wr i t i ng

Log ica l ana lys i s o f sub j ec t ma t t e r

P repa ra t i on o f t he f i na l ou t l i ne

Prepa ra t i on o f t he rough d ra f t

Rewr i t i ng and po l i sh ing

P r e p a r a t i o n o f t h e f i n a l b i b l i o g r a p h y a n d r e p o r t

wr i t i ng .


22/71

Int roduct ion of major p layers in insurance indust ry

HDFC STANDARD LIFE

The Pa r tne r sh ip :

H D F C a n d S t a n d a r d L i f e f i r s t c a m e t o g e t h e r f o r a p o s s i b l e j o i n t

ven tu re , t o en t e r t he L i f e In su rance marke t , i n J anua ry 1995 . I t was

c l ea r f rom the ou t se t t ha t bo th compan ie s sha red s imi l a r va lues and be l i e fs and a s t rong re l a t ionsh ip qu ick ly formed . In Oc tobe r 1995

the compan ie s s igned a 3 yea r j o in t ven tu re ag reemen t .

A r o u n d t h i s t i m e S t a n d a r d L i f e p u r c h a s e d a 5 % s t a k e i n H D F C ,

fu r the r s t r eng then ing the r e l a t i onsh ip .

T h e n e x t t h r e e y e a r s w e r e f i l l e d w i t h u n c e r t a i n t y, d u e t o c h a n g e si n g o v e rn m e n t a n d o n g o in g d e l a y s i n g e t ti n g t h e I R D A ( I n s u r an c e

R e g u la t o ry a n d D e v el o p m en t a u t h or i t y) A c t p a s s e d i n p a r li a m en t .

D e sp i te t h is b o th c o mp a ni es r e ma i ne d f i rm l y c o mm i tt e d t o t h e

ven tu re .

I n O c to b er 1 9 98 , t h e j o in t v e nt u re a gr e em e nt w a s r e ne we d a nd

add i t i ona l r e sou rce made ava i l ab l e . Around th i s t ime S t anda rd L i f e

pu rchased 2% o f In f ra s t ruc tu re Deve lopment F inance C ompany

L t d . ( I D F C ) . S t a n d a r d L i f e a l s o s t a r t e d t o u s e t h e s e r v i c e s o f t h e

HDFC Treasu ry depa r tmen t t o adv i se t hem upon the i r i nves tmen t s

in Ind i a .


23/71

To w a r d s t h e e n d o f 1 9 9 9 , t h e o p e n i n g o f t h e m a r k e t l o o k e d v e r y

p romis ing and both compan ie s ag reed the t ime was r i gh t t o move

t he o pe ra ti on t o t he n ex t l ev el . T he re fo re , i n J a nu ar y 2 00 0 a n

expe r t t e am f rom the UK jo ined a hand p i cked t eam f rom HDFC to

fo rm the co re p ro j ec t t e am, based in Mumba i .

AVIVA LIFE INSURANCE

Avi va l au nc he d a l if e i ns ur an ce a nd l on g- te rm s av in gs j oi ntv e n t ur e i n J u n e 2 0 0 2 w i t h D a b ur G r o u p , o n e o f I n d i a s o l d e s t a n d

mos t r e spec t ed bus ines s houses .

S I Z E

Among the t op 10 l i f e i n su re r s i n t he Ind i an marke t and employs

abou t 220 s t a f f .

P r o d u c t s

Uni t i s ed and un i t - l i nked wi th -p ro f i t po l i c i e s .

D i s t r i b u t i o n

The ma jo r i t y o f s a l e s - abou t 70% - come th rough ou r p ionee r ing

bancass u rance par tne r sh ips wi th ABN AMRO Bank , Amer icanE x p r e s s B a n k , C a n a r a B a n k , L a k s h m i Vi l a s B a n k , t h e B a n k o f

Bahra in & Kuwa i t and Pun jab & S ind Bank in t owns ac ros s Ind i a .

A n et wo rk o f 4 ,6 00 f in an ci al p la nn in g a dv is er s i n 2 5

loca t ions ac ros s t he coun t ry.


24/71

A n i n su r an c e b r ok i ng b u si n es s i n p a rt n er s hi p w i th B a ja j

C ap it al , a l ea di ng f in an ci al p la nn in g a nd i nv es tm en t

adv i so ry company.

L o c a t i o n s

T h r o u g h o u r b a n c a s s u r a n c e p a r t n e r s , c o r p o r a t e a g e n t s a n d

b roke rs , Av iva p roduct s a r e now ava i lab le i n more t han 130

loca t ions a round the coun t ry.

H i s t o r y

Commerc i a l Un ion and Norwich Un ion e s t ab l i shed agenc i e s

i n I n d i a i n t h e 1 8 6 0 s . G e n e r a l A c c i d e n t a p p o i n t e d i t s f i r s t

agen t s i n 1902 . L i f e i n su rance ope ra t i ons were na t iona l i s ed

in 1956 .

KOTAK LIFE INSURANCE

A Life t ime of Value

K o ta k M a hi n dr a o n e o f I n di a 's l e ad i ng f i na n ci a l i n st i tu t io n s w a s

bo rn i n 1985 as Ko tak Cap i t a l Managemen t F inance Limi ted . Th i s

company was p romoted by Mr. Uday Ko tak , Mr. S idney A . A . P in to

a n d K o t a k & C o m p an y. I n d u s t r i al i s t s M r. H a r is h M a h in d r a a n d M r.A n a nd M a h in d r a t o o k a s t a k e i n 1 9 8 6, a n d t h a t ' s w h e n t h e c o m pa n y

changed i t s name to Ko tak Mah ind ra F inance L imi t ed .

I t ' s been a s t eady and con f iden t j ou rney to g rowth and succes s .


25/71

1 98 6 K ot ak M ah in dr a F in an ce L im it ed s ta rt s t he a ct iv it y o f

B i l l D i scoun t ing

1 98 7 K ot ak M ah in dr a F in an ce L im it ed e nt er s t he L ea se a nd

Hi re Pu rchase marke t

1 9 90 T h e A u to F in a nc e di v is i on i s st a rt e d

1 9 91 T h e I nv e st m en t B a n ki n g D iv i si o n i s s t a rt e d. Ta k es o v e r

F ICOM, one o f Ind i a s l a rges t f i nanc i a l r e t a i l marke t ing

ne tworks

1 9 92 E n te r s th e Fu n ds S yn d ic a ti o n s e ct o r

1 9 95 B r ok e ra ge a n d D i s tr i bu t io n b u si n es s e s i n c or p or a te d i n t o

a s ep ar at e c om pa ny - K ot ak S ec ur it ie s. I nv es tm en t

B a n k in g d i v i si o n i n c o r p o r at e d i n t o a s e p a ra t e c o m p a n y -

Ko tak Mah ind ra Cap i t a l Company

1 99 6 T he A ut o F i na nc e B u si ne ss i s h i ve d o f f i n to a s ep ar at e

c om pa ny - K ot ak M ah in dr a P ri mu s L im it ed . K ot ak

M a h i n d r a t a k e s a s i g n i f i c a n t s t a k e i n F o r d C r e d i t K o t a k

M ah in dr a L im it ed , f or f in an ci ng F or d v eh ic le s. T he

l aunch o f Ma t r ix In fo rma t ion Se rv i ce s L imi t ed marks t he

Groups en t ry i n to i n fo rma t ion d i s t r i bu t ion .

1 9 98 E n te r s t he m u t ua l f u nd m a r ke t w i th t h e l a un c h o f K ot ak

Mah ind ra Asse t Managemen t Company.

2 0 0 0 K o t ak M a h in d r a ti e s u p w i t h Ol d M ut u a l p l c . fo r t h e L i f e

Insu rance bus ines s .

K o t ak S e c ur i t ie s l a u nc h e s k o t a ks t r e et . c o m - i t s o n - l in e

b rok ing s i t e . Fo rma l commencemen t o f p r iva te equi ty

a c t i v i t y t h r o u g h s e t t i n g u p o f K o t a k M a h i n d r a Ve n t u r e

Cap i t a l Fund .

2001 Mat r ix s o ld t o Fr iday Corpora t ion

Launches In su rance Se rv i ce s


26/71

2 0 0 3 K o t ak Ma h i n dr a F i n an c e L t d . c o n v er t s t o b a n k

K o ta k M a hi n dr a i s o n e o f I n di a 's l ea d in g f i na n ci a l i ns t it u ti o ns ,

o ff e r ing comple t e f i nanc i a l so lu t i ons t ha t encompass eve ry sphe re o f

l i f e . F rom commerc i a l bank ing , t o s tock b rok ing , t o mu tua l funds , t o

l if e i ns ur an ce , t o i nv es tm en t b an ki ng , t he g ro up c at er s t o t he

f inanc i a l needs o f i nd iv idua l s and co rpo ra t e s .

T h e g r o u p h a s a n e t w o r t h o f a r o u n d R s . 1 , 7 0 0 c r o r e a n d e m p l o y s

o v e r 4 , 0 0 0 e m p l o y ee s i n i t s v a r io u s b u s i n e s s es . Wi t h a p r e s en c e i n

7 4 c it ie s i n I nd ia a nd o ff ic es i n N ew Yor k, L on do n, D ub ai a ndMaur i t i u s , i t s e rv i ce s a cus tomer base o f ove r 5 ,00 ,000 .


27/71

BIRLA SUN LIFE

Bi r l a Sun L i f e F inanc i a l Se rv i ce s o ff e r s a r ange o f f i nanc i a l

s er vi ce s f or r es id en t I nd ia ns a nd N on R es id en t I nd ia ns .

Brough t t oge the r by two l a rge , power fu l and r epu ted bus ines s

houses , t he Ad i tya B i r l a Group and Sun L i f e F inanc i a l , i t i s

ou r a im to o ff e r d ive r se and top qua l i t y f i nanc i a l s e rv i ce s t o

c us to me rs . T he M ut ua l F un d a nd I ns ur an ce c om pa ni es

prov ide wea l th managemen t and pro tec t i on p roduct s to

c u s t om e r s w h i le t h e D i s tr i b ut i o n a n d S e c ur i t ie s c o m pa n i es

prov ide b roke rage and t rad ing se rv i ces fo r inves tmen t in

equ i t i e s , deb t s ecu r i t i e s , f i xed depos i t s , e t c .B i r l a sun l i f e In su rance company

B i r l a s u n l i f e i n s u r a n c e c o m p o a n y l i m i t e d i s a j o i n t v e n t u r e

be tween The Ad i tya B i r la Group , one of the la rges t bus ines s

ho us es in In di a a nd Su n l if e F i na nc ia l I nc . , a l e ad ing

i nt er na ti on al f in an ci al s er vi ce s o rg an iz at io n. T he l oc al

k no wl ed ge o f t he A di ty a B i rl a G r ou p, c ou pl ed w it h t h e

e x pe r ti s e o f S u n L if e F i n an c ia l I n c. , O f f er s a f o rm i da b le

pro tec t i on fo r your fu tu re .

T h e A d i t y a B i r l a G r o u p h a s a t u r n o v e r c l o s e t o R s . 3 3 , 0 0 0

c r o re s w i t h a m a r ke t c a p i ta l i za t i on o f R s . 3 0 , 5 0 0 c r o re s ( 3 1 s t

M ar ch 2 00 5) . I t h as o ve r 7 2, 00 0 e mp lo ye es a cr os s a ll i ts

un it s wo rl dwid e. I t i s l e d b y I ts c ha ir ma n- Mr. Ku ma r

Manga lam Bi r l a .

S u n l i f e F i n a n c i a l a n d i t s p a r t n e r s t o d a y h a v e o p e r a t i o n s i n

key marke ts wor ldwide , Inc lud ing Canada ,Un i t ed

Sta ted ,Un i ted Kingdom, Un i t ed Kingdom,

H o ng k on g ,P h il i pp i ne s ,J a pa n , I n do n es i a, I n di a , C h in a a n d

B e r mu d a . Su n l i fe F i n a nc i a l I n c . h ad a s s e ts u n d e r m a n a ge m a n t

o f ove r US$298 b i l l i ons , a s on 31 s t Dec . 2004 .

B i r l a s u n l i f e i n s u r a c e , i n j u s t o v e r 4 y e a r s o f i t s l a u n c h , h a s

ca t apu l t ed i t s e l f and cemen ted i ts pos i t i on a s a l e ad ing p l aye r i n

t he p ri va te l if e i ns ur an ce i nd us tr y w it h a n a nn ua li ze d n ew

bus ines s premium o f Rs .915 .5 c rores . I t has cove red in exces s o9 f 6 ,5 0, 00 0 l iv es w it h a t ot al s um a ss ur ed o f o ve r R s. 22 ,0 00


28/71

I C I C I P R U D E N T I A L L I F E I N S U R A N C E

I C I C I w a s f o r m e d i n 1 9 5 5 . I n 1 9 9 2 , I C I C I w a s d i v i de d i n t o t w o

pa r t s :

ICICI Bank

ICICI L td .

I n D e c e m b e r 2 0 0 0 , I C I C I l i m i t e d h a d a j o i n t v e n t u r e w i t h

p rudent ia l o f U. K. and ICICI p ruden t ia l L i fe In su rance

C o m p a n y w a s f o r m e d . ( P r u d e n t i a l i s 1 5 0 y r s . O l d c o m p a n y

o f U .K )I n 2 00 3, I CI CI B an k a nd I CI CI P ru de nt ia l L if e.

In su rance was merged unde r ICICI Bank L td .

PA R A N TA G E O F P R U D E N T I A L

S t a r t e d o p e r a t i o n s i n 1 8 4 8 a n d i s n o w o f t h e l a r g e s t l i f e

in su rance compan ie s i n t he wor ld .

Presence i n U .K . , Eu rope , U .S . and th roughou t As i a .

I n s u ra n c e & I n v es t m e nt F u n ds u n d e r m a n a g e m en t e x c e ed s

Rs . 11 ,00 ,000 c ro re s .

A lr ea dy e st ab li sh ed a s o ne o f t he b ig ge st m ut ua l f un d

company in Ind i a (P ruden t i a l ICICI AMC ) .

A t ru ly g loba l b r and .

I C I C I P R U D E N T I A L


29/71

A j oin t v en tur e b etwee n o ne o f th e I nd ia s l ea din g

f i na n ci a l i n st i tu t io n a n d o n e o f t he w o rl d s l ar g es t l if e

in su rance compan ie s .

To d a y w e a r e t h e N o . 1 p r i v a t e l i f e i n s u r a n c e c o m p a n y i n

Ind ia .

Pro fe s s iona l , h igh ly t r a ined and compe ten t adv i so r s .

BAJAJ ALLIANZ LIFE INSURANCE COMPANY

ABOUT US

B a j a j A l l i a n z L i f e I n s u r a n c e C o . L t d . i s a j o i n t v e n t u r e b e t w e e n

two l ead ing cong lomera t e s - A l l i anz AG, one o f t he wor ld ' s l a rges t

i n s u r a n c e c o m p a n i e s , a n d B a j a j A u t o , o n e o f t h e b i g g e s t 2 a n d 3

whee le r manufac tu re r s i n t he wor ld .

B a j a j A l l i a n z L i f e I n s u r a n c e

I s t he f a s t e s t g rowing p r iva t e l i f e i n su rance company in Ind i a

Cur ren t ly has ove r 3 ,00 ,000 sa t i s f i ed cus tomers . We have cus tomer

c ar e c en te rs i n 1 55 c it ie s w it h 2 80 00 I ns ur an ce C on su lt an t

p rov id ing the f i nes t cus tomer s e rv i ce .


30/71

O n e o f I n d i a ' s l e a d i n g p r i v a t e l i f e i n s u r a n c e c o m p a n i e s

A l l i a n z G r o u p

Al l i anz Group i s one o f t he wor ld ' s l e ad ing in su re r s and f i nanc i a l

s e rv i ce s p rov ide r s .

Founded in 1890 in Be r l i n , A l l i anz i s now p re sen t i n ove r 70

c ou nt ri es w it h a lm os t 1 74 ,0 00 e mp lo ye es . A t t he t op o f t he

i n t e r n a t i o n a l g r o u p i s t h e h o l d i n g c o m p a n y, A l l i a n z A G , w i t h i t s

head o ff i ce i n Mun ich .

A ll ia nz G ro up p ro vi de s i ts m or e t ha n 6 0 m il li on c us to me rs

w o r l dw i d e w i t h a c o m p re h e n si v e r a n g e o f s e r v ic e s i n t h e a r e a s o f

P rope r ty and Casua l ty In su rance ,

A s s e t M a n a g e m e n t a n d B a n k i n g .

A L L I A N Z A G - A G L O B A L F I N A N C I A L P O W E R H O U S E

Wor ldwide 2nd by Gross Wr i t t en P remiums - Rs .4 ,46 ,654 c r.

3 rd l ar ge st A ss et s U nd er M an ag em en t ( AU M) & l ar ge st

amongs t In su rance cos . - AUM of Rs .51 ,96 ,959 c r.

12 th l a rges t co rpo ra t i on i n t he wor ld

49 .8 % o f g loba l bus ines s f rom L i f e In su rance

Es t ab l i shed in 1890 , 110 y r s o f In su rance expe r t i s e


31/71

70 coun t r i e s , 173 ,750 employees wor ldwide

Baja j Group

Baja j Au to L td , t he f l agsh ip company o f t he Rs . 8000 c ro re Ba ja j

g ro up i s t he l ar ge st m an uf ac tu re r o f t wo -w he el er s a nd t hr ee -

whee le r s i n Ind i a and one o f t he l a rges t i n t he wor ld .

A househo ld name in Ind i a , Ba j a j Au to has a s t rong b rand image &

b rand loya l ty synonymous wi th qua l i t y & cus tomer focus .

A S T R O N G I N D I A N B R A N D - H A M A R A B A J A J

One o f t he l a rges t 2 & 3 whee l e r manufac tu re r i n t he wor ld

21 mi l l i on+ veh ic l e s on the roads ac ros s t he g lobe

Manag ing funds o f ove r Rs 4000 c r.

B a j a j A u t o f i n a n c e o n e o f t h e l a r g e s t a u t o f i n a n c e c o s . i n

Ind ia

Rs . 4 ,744 Cr. Tu rnove r & P ro f i t s o f 538 Cr. i n 2002-03

I t h a s j o i n e d h a n d s w i t h A l l i a n z t o p r o v i d e t h e I n d i a n c o n s u m e r s

wi th a d i s t i nc t op t ion in t e rms o f l i f e i n su rance p roduc t s .

As a p romote r o f Ba ja j A l l i anz L i f e In su rance Co . L td . , Ba j a j


32/71

A u t o h a s t h e f o l l o w i n g t o o f f e r

F in an ci al s tr en gt h a nd s ta bi li ty t o s up po rt t he I ns ur an ce

Bus ines s .

A s t rong b rand -equ i ty.

A g o od m a rk e t r e pu ta t io n a s a w o rl d c l as s o r ga n iz at i on .

An ex t ens ive d i s t r i bu t ion ne twork .

Adequa te expe r i ence o f runn ing a l a rge o rgan iza t ion .

Baja j Al l i anz Genera l Insu rance

Baja j A l l i anz i s t he f a s t e s t g rowing gene ra l i n su rance company in

Ind ia

B aj aj A ll ia nz G en er al I ns ur an ce C om pa ny L im it ed i s a j oi nt

v e n t ur e b e t we e n B a j a j A u t o L i m i te d a n d A l l i a n z A G o f G e r ma n y.

Bo th en joy a r epu ta t i on o f expe r t i s e , s t ab i l i t y and s t r eng th .

Ba ja j A l l i anz Gene ra l In su rance r ece ived the In su rance Regu la to ry

and Deve lopmen t Au tho r i t y ( IRDA) ce r t i f i c a t e o f Reg i s t r a t i on (R3)

on May 2nd , 2001 to conduct Genera l Ins urance bus ines s

( i n c l u d i n g H e a l t h I n s u r a n c e b u s i n e s s ) i n I n d i a . T h e C o m p a n y h a s


33/71

a n a u t h o r i z e d a n d p a i d u p c a p i t a l o f R s 11 0 c r o r e s . B a j a j A u t o

h ol ds 7 4% a nd t he r ema in i ng 2 6% is he ld b y Al li an z, AG,

Germany.

Ba ja j A l l i anz Gene ra l In su rance r ece ived the In su rance Regu la to ry

and Deve lopmen t Au tho r i t y ( IRDA) ce r t i f i c a t e o f Reg i s t r a t i on (R3)

on May 2nd , 2001 to conduct Genera l Ins urance bus ines s

( i n c l u d i n g H e a l t h I n s u r a n c e b u s i n e s s ) i n I n d i a . T h e C o m p a n y h a s

a n a u t h o r i z e d a n d p a i d u p c a p i t a l o f R s 11 0 c r o r e s . B a j a j A u t o

h ol ds 7 4% a nd t he r ema in i ng 2 6% is he ld b y Al li an z, AG,

Germany.

I n i t s f i r s t y e a r o f o p e r at i o ns , t h e c o m p a ny h a s a c q u i r ed

t h e N o . 1 s t a t u s a m o n g t h e p r i v a t e n o n - l i f e i n s u r e r s . A s o n 3 1 s t

M ar ch 2 00 3, B aj aj A ll ia nz G en er al I ns u ra nc e m ai nt ai ne d i ts

l ea de rs hi p p os i ti on b y g ar ne ri ng a p re mi um i nc om e o f R s. 30 0

C r o r e s . B a j a j A l l i a n z a l s o b e c a m e o n e o f t h e f e w c o m p a n i e s t o

m a k e a p r o f i t i n i t s f i r s t f u l l y e a r o f o p e r a t i o n s . B a j a j A l l i a n z

made a p ro f i t a f te r t ax o f Rs . 9 . 6 c ro re s .

B a j a j A l l ia n z t o d a y h a s a n e t w o r k o f 4 2 o f f i c e s s p r e a d a c r o s s t h e

l en gt h a nd b re ad th o f t he c ou nt ry. F ro m S ur at t o S il ig ur i a nd

J a m m u t o T h i r u v a n a n t h a p u r a m , a l l t h e o f f i c e s a r e i n t e r c o n n e c t e d

wi th t he Head Of f ice a t Pune .

I n t he f ir st h al f o f t he c ur re nt f in an ci al y ea r, 2 00 4- 05 , B aj aj

A l l i anz ga rne red a p remium income o f Rs . 405 c ro re s , a ch i ev ing a

g rowth o f 84% and r eg i s t e r ed a 52% g rowth in Ne t p ro f i t s o f Rs .20

Cro re s ove r t he l a s t yea r fo r t he s ame pe r iod . In t he f i nanc i a l yea r


34/71

2 0 0 3 - 04 , t h e p r e mi u m e a r n e d w a s R s . 4 8 0 C r o r e s , w h i c h i s a j u m p

of 60% and the p ro f i t zoomed by 125% to Rs . 21 .6 Cro re s

Vi s i o n

To be the f i r s t cho ice i ns u rer fo r cus tomers

To be t he p re fe r r ed employe r fo r s t a f f i n t he i n su rance i ndus t ry.

To b e t he n um be r o ne i ns ur er f or c re at in g s ha re ho ld er v al ue

M i s s i o n

As a r e spons ib l e , cus tomer focused marke t l e ade r, we wi l l s t r i ve t o

u n d e r s t a n d t h e i n s u r a n c e n e e d s o f t h e c o n s u m e r s a n d t r a n s l a t e i t

i n to a f fo rdab le p roduc ts t ha t de l ive r va lue fo r money .

A P a r t n e r s h i p B a s e d o n S y n e rg y

B aj aj A ll ia nz G en er al I ns ur an ce C om pa ny o ff er s t ec hn ic al

exce l l ence i n a l l a r ea s o f Gene ra l and Hea l th In su rance a s we l l a s

R i s k M a n ag e m en t . T h i s p a r tn e r s hi p s u c c es s f u ll y c o m bi n e s B a j aj

A u t o ' s i n - d e p t h u n d e r s t a n d i n g o f t h e l o c a l m a r k e t a n d e x t e n s i v e

d is tr ib ut io n n et wo rk w it h t he g lo ba l e xp er ie nc e a nd t ec hn ic al

e x p e r t i s e o f t h e A l l i a n z G r o u p . A s a r e g i s t e r e d I n d i a n I n s u r a n c e

Company and a cap i t a l ba se o f Rs . 110 c ro re s , t he company i s

F u ll y l i ce n se d t o u n de r wr i te a l l l i ne s o f g e ne r al i ns u ra n ce

bus ines s inc lud ing hea l th

Wi th managemen t con t ro l by A l l i anz AG

N E W S H E A D L I N E S

A u g . 2 0 0 5

Si lve r Hea l th P l an , 22 Augus t 05 , The Economic Times -More


35/71

Baja j A l l i anz p rov ides i n su rance t o Banga lo re A i rpo r t , 10

Augus t 05 , Times o f Ind i a .

Ba ja j A l l i anz t o ca sh i n on c iv i l av i a t i on marke t , 2 Augus t

05 , The Economic Times .

Huge C la ims a l so r i ng i n s a l e s fo r i n su rance compan ie s , 1

Augus t 05 , Times o f Ind i a .

July 2005

Baja j A l l i anz gea r s up fo r c l a ims de luge , 31 Ju ly 05 ,

Bus ines s L ine .

Ba ja j A l l i anz p l ans t o doub le p remium co l l ec t i on i n s t a t e , 28

Ju ly 2005 , Bus ines s S t anda rd .

Ba ja j A l l i anz o ff e r s Sen io r C i t i zen Hea l th Cove r, 28 Ju ly

2005 , Bus ines s S t anda rd .

F lood c l a ims se t t l ed , 28 Ju ly 2005 , Ra ja s than Pa t r i ka .

Ba ja j A l l i anz -Yes Bank bancas su rance t i e -up , 21 Ju ly 2005 ,

Saka l .

Game , Se t & Cove r Dr ive , 20 Ju ly 2005 , The Economic

Times .

In t e rv i ew o f Kamesh Goya l on Bus ines s S t anda rd , Ju ly

2005 .

Insu re r s h i t by Gu ja ra t j i nx aga in , 4 Ju ly 2005 , Bus ines s

S tanda rd - Insu re r s .

Jun . 2005

Six o f e igh t pv t gene ra l i n su re r s pos t p ro f i t - 5 June 2005 ,

Bus ines s S t anda rd .


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In su re r s p r e f e r s co rpo ra t e agency t i e -ups t o r e f e r r a l s -1 June

2005 , Bus ines s L ine .

May. 2005

In t e rv i ew o f Kamesh Goya l on As i a In su rance Pos t -May

2005 .

Ba ja j A l l i anz t ops p r iva t e i n su re r s ' cha r t s . 2004-05 - 7 May

2005 , The Economic Times , Mumba i .

Ba ja j A l l i anz dec l a r ed r e su l t f o r. . , - 7 May 2005 , Bus ines sS tanda rd , Mumba i .

Ba ja j A l l i anz ne t up 117%- 6 May 2005 , The F inanc i a l

Expres s , Mumba i .

Apr. 2005

HAT in house , Ou t lookMoney, 30 Apr i l 2005 .

He inz Do l lbe rg -Di rec to r A l l i anz t a lk s abou t t he bus ines s

per formance- -21s t Apr i l 2005 . . . . . .Wi r t s cha f t sWoche .

Ba ja j A l l i anz t ops i n As i an Marke t , 20 Apr i l 2005- The

Economic Times .

New B aja j Al l ianz s chemes fo r t r ave l le rs t o As i a , Apr i l 12 -

The Hindu Bus ines s L ine .

Bask in t he sun , bu t t ake cove r , Apr i l 11 - The Economic

Times .

Ba ja j A l l i anz t u rns ou t sou rc ing a rm,mans Lanka ope ra t i ons . . . .

Apr i l 8 2005- The F inanc i a l Expres s .


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ICICI Lombard and Ba ja j A l l i anz bags K ing f i she r i n su rance

accoun t , Apr i l 6 2005 .

Mar. 2005

The t a r i f f s ac t s a s a h ind rance fo r i n su rance compan ie s

who . . . . Mar 2005 - As i a In su rance Pos t .

Ba ja j A l l i anz goes ' i n -house ' f o r med ic l a im se rv i c ing , 31

Mar. - The Economic Times , Pune .

P ro t ec t you r mos t va lued posses s ion , - 30 Mar. 2005 - The

F inanc i a l Expres s , Mumba i .

Ba ja j A l l i anz sh i f t s hea l th i n su rance mgmt in -house , - 28

Mar. 2005 - Economic Times , Mumba i - More

You ' r e IT sawy, HQ t e l l s Ba j a j A l l i anz - 28 Mar. 2005 - The

Ind ian Expres s .

Cos t r ave l t he ex t r a mi l e t o o ff e r i nnova t ive cove r s - 19 Mar.

2005 - Economic Times .Ba ja j A l l i anz i s IT Cen t r e o f Compe tence -12 Mar.2005 -The

F inanc i a l Expres s , Mumba i .

Feb. 2005

UBI ,Ba ja j A l l i anz i nks bancas su rance t i e -up -23 Feb .2005

-Deccan Chron ic l e Hyde rabad .

UBI t i e up -22 Feb .2005 - The S t a t e sman -Ko lka t a - More

UBI t i e s up wi th Ba ja j A l l i anz -22 Feb .2005 - The Assam

Tr ibune Guwaha t i .


38/71

UBI t i e s up wi th Ba ja j A l l i anz -22 Feb ,2005 - H indus t an

Times Ko lka t a .

De l ive rance f rom TPAs a t hand . , 15 Feb . 2005 , Bus inee

S tanda rd , Mumba i .

Ab id ing a l l i ance , 14 Feb . 2005 , Bus inee Ind i a - More

Ar t i c l e on Wedd ing In su rance po l i cy i n "Eenadu" . , 11 Feb .

2005 , Eenadu .

Jan . 2005

Wet pa in t : Ar t i n su rance po l i c i e s no t we l l de f ined , 30 J an .

2005 , Times o f Ind i a - Mumba i , Ind i a .

Thanks t o Ba ja j A l l i anz , bank . . . . . , The Hindu Bus ines s L ine

Jan22 , 2005 .

In su r ing wedd ing ce l eb ra t i ons . . . , Da la l S t r ee t J an 10 -23 ,

2005 .

HEAD OFFICE OF BAJAJ ALLIANZ LIFE INSURANCE

Head OfficeAdd. : GE Plaza 1 st Floor, Airport Road, Yerawada,Pune 411006Tel : +91-020-56026666Fax : +91-020-56026667Email : [email protected]

The top managemen t o f Ba ja j A l l i anz Gene ra l In su rance cons i s t s o f

peop le having doma in knowledge of i n su rance as we l l as

spec i a l i s t s i n t he i r r e spec t ive f i e ld .

K a m e s h G o y a l i s t h e C E O o f B a j a j A l l i a n z G e n e r a l I n s u r a n c e

C o m p a n y L i m i t e d , w h o w a s e l e v a t e d f r o m h i s e a r l i e r p o s i t i o n o f

COO.
mailto:[email protected]:[email protected]:[email protected]


39/71

S a m G h o s h , w h o w a s t h e C E O o f B a j a j A l l i a nz ea r l i e r ha s t aken

ove r a s Coun t ry Manage r and i s a l so t he CEO o f Ba ja j A l l i anz L i f e

Insu rance Company L imi t ed .

Child GainPolicy Plan

Taking care of a chi ld is perhaps the most important job a parent

can have. I t i s but natural that you would l ike to give your chi ld your

best, and therefore, this is the t ime when careful financial planning

can he lp you fu l f i l l the asp i ra t ions tha t you for your ch i ldren . The

Pol icy P lan Chi ldGain S o l u t i o n s h e l p y o u t o e n j o y t h e j o y s o f


40/71

parenthood respons ibly, with the reassurance of a secure future for

your chi ld .

Pol icy Plan Chi ldGain offers a wide a r ray of so lu t ions tha t

a l lows you to p lan for your ch i lds fu ture by provid ing you wi th as

many as 4 dis t inct and unique opt ions.

Options 1 : Chi ldGain 21

Options 1 : Chi ldGain 24

Options 1 : Chi ldGain 21 Plus

Options 1 : Chi ldGain 24 Plus

Benefits of Child Care Solutions

1. Limit ed P remium Paymen t Te rm wh ich means t hat t he

premiums are payable t i l l your child a tta ins age 18 years .

2. Your con t ribu t ions g row by the way o f compounded annual

bonuses , which will be paid to you with the f irs t guaranteed payout (policy anniversary following age 18 if your child) , for

in - force po l ic ies . In addit ion to the annual bonuses , a t e rmina l

bonus may also be paid .

3. You a re a l so e l i g ib l e fo r Tax Bene f i t s unde r Sec t ion 88 and

Section 10 (10 D) of the Income Tax Act.

4. A s su r in g Yo ur C h il d s F ut u re : I n a n u nc er ta in w or ld , t he pr ime interest of your child cannot be jeopardized in any way.

Which i s why we have bui l t in some added benef i t s in a l l our

plans to protect the interests of your childs future, by counter

insuring you the pol icyholder.


41/71

In-Built Benefits

a ) P re mi um Wa iv er Be ne fi t:

In case of death or Accidental Total Permanent Disabi li ty of the policyholder during the premium payment term, al l future premium

payments are waived. This benefit will not be avai lable in the event of

accidental permanent total disabili ty after age 65 of the policyholder.

b ) F ami ly In co me Be ne fi t:

In case of dea th or acc identa l to ta l permanent d i sab i l i ty of the

policyholder during the term of the policy, a monthly income benefi t

of 1% of the sum assured (12% per annum) subject to a maximum of

Rs. 10,000 p.m. becomes payable t i l l the end of the pol icy term. This

benefit will not be avai lable in the event of accidental permanent total

disabili ty after age 65 of the policy holder.

5. O pt io n t o P ur ch as e F ur th er I ns ur an ce a t M at ur it y: For

ensuring cont inui ty of the valuable insurance protect ion during

tha t t he ch i ld was en joy ing , we o ff e r t he ch i ld an op t ion to purchase a with prof its endowment or an equivalent plan Bajaj

Al l ianz Li fe Insurance Company for twice the amount of face

va lue of th i s po l icy, wi thout any medica l examina t ion , on the

premium rates prevai ling at that t ime (The application must be

made at least 6 months prior to maturity of this policy).

Payout Structures under this plan are :

For Chi ldGain 21 and C hi ld Ga in 2 1 P lu s : T he m in im um

guaranteed payouts are as follows :


42/71

P o li c y A n ni v er s ar y

fol lowing

complet ion of Age

18 19 20 21

Payout as % Sum

Assured

2 0% + A cc ru ed

Bonuses

25% 25% 35%

For C hi ld Ga in 2 4 and C hi ld Ga in 2 4 Plus : T he m in im umguaranteed payouts are as fol lows:

P o li c y A n ni v er s ar y

fol lowing

complet ion of Age

18 20 22 24

Payout as % SumAssured

2 5% + A cc ru edBonuses

25% 25% 40%

Start of Life Benefit

Unique Fea tu r e o f Ba j a j A l l i a n z Ch i l dGa i n 2 1 P lu s and 24

Plus.

These packages offer you the choice of providing a unique Star t

of L i fe Benef i t fo r your ch i ld . For a nomina l amount , an addi t iona l

Sum Assured subjec t to a maximum l imi t o f Rs . 10 lacs wi ll become

payable to enable the child s tar t his /her profess ional l ife smoothly, in

case of an unfortunate death or Accidental Permanent Total Disabi l i ty

of the Policyholder during the term of the policy. This benefit will not


43/71

be available in the event of accidental permanent total disabi li ty af ter

age 65 of the pol icyholder.

Death Payout :

In t he even t o f un fo r tuna t e dea th o f t he ch i ld du r ing the

policy term, the payouts shall be as under.

Age Payout

Below 7 years Premiums paid wil l be refunded

w it ho ut i nt er es t a nd t he p ol ic y w il l

terminate.

Above 7 yea r s

a nd b el ow 1 8

years

S um a ss ur ed w it h a cc ru ed b on us es

will be paid and the policy wil l

terminate.

Above 18

years and

below 24

years

O u ts t an d in g p a yo u ts w i ll b e p a id a s

o ne lu mp s um a nd t he p oli cy w il l

terminate.

Important details of Bajaj Allianz ChildGain Solutions.

Eligibi l i ty

Condit ion

C hi ld Ga in 2 1 a nd

ChidGain 21 Plus

ChildGain 24 and

ChildGain 24 Plus


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M in imu m a ge of

the pol icyholder

20 20

Maximum age of

the pol icyholder

50 50

M in im um a ge

of Chi ld

0 0

Maximum age of

Chi ld

13 13

Min imum Premium

Payment Term

5 5

Maximum Premium

Payment Term

18 18

Maximum age of

Chi ld a t matur i ty

21 24

Minimum Sum

Assured

Rs.100, 000 Rs.100, 000

Maximum Sum

Assured

Rs.50,00,000 Rs.50,00,000

Minimum Premium Minimum Premium Rs . 5000 fo r yea r ly

m o d e R s . 2 5 0 0 f o r h a l f y e a r m o d e R s .

2 00 0 f or q ua rt er ly m od e a nd R s. 7 00

form monthly mode.


45/71

( Month ly mode avai l ab l e unde r s a la ry deduct ion scheme on ly and

m in im um p ro po sa l d ep os it s ho ul d b e R s. 2 10 0 i .e . t hr ee m on th s

payment in advance ) .

Premiums:

For your convenience we have provide three Premium payment modes

that can be Yearly, Half-year ly or Quarter ly. We also offer a Monthly

Premium Payment Mode under salary deduction schemes.

Surrender:

We offer you the choice of surrendering the pol icy provided three ful l

year s p remiums have been pa id (Two year s fo r p r emium paymen t

terms of 5 and 6 years) .

The guaranteed minimum surrender value is 30% of a l l premiums paid

excluding the f ir s t year p r emium and excluding the p remiums fo r

premium waiver benefit and Family Income Benefit and Addit ional

Benefi t opted for. The guaranteed minimum surrender value af ter the

premium payment term wil l be the discounted value of the outs tanding

installment payments discounted at 10% p.a. rate of interest .

Loans:

Loans are not available with Bajaj Allianz ChildGain plan.

15 Days Free Look Period :

Within 15 days f rom the da te of rece ip t o f the po l icy, you have the

opt ion to review the terms and condi t ions and return the pol icy, i f you

disagree to any of the terms & condi t ions, s ta t ing the reason for your


46/71

ob jec t ions . You wi l l be en t i t l ed t o a r e fund o f t he p remiums pa id ,

subjec t on ly to a deduc t ion of a p ropor t iona te r i sk premium for the

period on cover and the expenses incurred on medical examination and

stamp duty charges.

Features of Child Care Plan .

1. Payment of premium limited t i l l age 18 of the child.

2. Options to choose maturity at age 21 of age 24 of the child.

3. Payouts begin a t age 18 , when money i s requi red for en t ry

in to courage . In case the matur ity age i s 21 , the payouts a re

made at 18, 19, 20 and 21. In case the matur i ty age is 24, the

payouts are made at 18, 20, 22, and 24.

4. In case of dea th or acc identa l permanent to ta l d i sab i l i ty of t he p ol ic yh ol de r d ur in g t he p re mi um p ay me nt t he m. A ll

future premiums are waived.

5. In this pol icy the company given the money to you when the

pol icy holder will be died, and this policy also gives you a

money when your baby wil l die . This is the only pol icy which

given the r isk cover of both the pol icy holder and the baby.

6. In add i t i on a f ami ly Income Bene f i t t ha t pays 1% o f Sum

Assured per month is paid t i l l the end of the pol icy term.

7. T he s ta rt o f L if e B en ef it i s a ls o a va il ab le t ha t p ay s a n

addi t ional sum assured with the f inal payout in case of death


47/71

or acc identa l permanent to ta l d i sab i l i ty of the po l icyholder

during the policy term.


48/71

BAJAJ ALLIANZ CHILD GAIN V/S HDFC CHILD PLAN

Sr.No

Features HDFC CHILD PLAN BAJAJ ALLIANZCHILD GAIN

1) Min. Max child age 0-13 Years

2) Min.Max Age of parents

18-60 Years 20-50 Years

3) Life Assured Policy Holder Policy Holder and Children

4) Beneficiary Child Policy Holder and Children

5) Flexibility The customer has to chooseamongst 3 plans, with different premiums.

The customer has to chooseamongst 3 plans, withdifferent premiums

6) Death of Parent 1)SA + Bonuses paid upfront2) SA + Bonuses paid onmaturity3) SA paid on death + bonuses

1) SA + Bonus2) Family Income Benefit

7) Death of Children They give nothing . SA with accrued bonuseswill be paid

8) Riders Available None FIB, PWB


49/71

BAJAJ ALLIANZ CHILD GAIN V/S ICICI SMARK KID

Sr.No

FEATURES ICICI SMART KID BAJAJ ALLIANZ CHILD GAIN

1) Min. Max child age 10-25 0-13 Years





5) Flexibility Two structures-when

the child reaches hiscritical mile stones.Last 4 years beforematurity.

The customer has to choose

amongst 3 plans, with different premiums

6) Death of Parent SA is paid up front. Allfuture premiums arewaived.


7) Death of Children Policy continues as itis.

SA with accrued bonuses will be paid

8) Riders Available ADBR/IBR/WOP FIB, PWB


50/71

BAJAJ ALLIANZ CHILD GAIN V/S ING-VSYAYA

Sr. No FEATURES ING-VSYAYA(creating life)

BAJAJ ALLIANZ CHILD GAIN

1) Min. Max child age No age bar 0-13 Years





5) Flexibility Maturity benefit to betaken either as lumpsum or in 3-5 equalannual instalments.

The customer has to chooseamongst 3 plans, with different premiums

6) Death of Parent SA+ Bonus paidupfront, amount isgiven with bonuses.(if any)


7) Death of Children Policy continues as it

is.

SA with accrued bonuses will be

paid

8) Riders Available ADBR/ABR/WOP FIB, PWB


51/71

BAJAJ ALLIANZ CHILD GAIN V/S SBI LIFE-SCHOLAR

Sr. No FEATURES SBI LIFE-SCHOLAR BAJAJ ALLIANZ CHILD GAIN1) Min. Max child age 0-25 0-13 Years





5) Flexibility Two structures-As a

lump sum or in equalinstallments of 25%each form the child ageof 18-21.



6) Death of Parent SA is paid up front.25% paid out everyyear.


7) Death of Children Policy continues as itis.

SA with accrued bonuses will be paid

8) Riders Available ADBR FIB, PWB


52/71

BAJAJ ALLIANZ CHILD GAIN V/S OM KOTAK MAHINDRA

Sr. No FEATURES OM KOTAK BAJAJ ALLIANZ CHILD GAIN

1) Min. Max child age 0-17 0-13 Years2) Min.Max Age of

parents20-50 Years



5) Flexibility ONE structures- onlylump sum payment

made on maturitywhich consist of SAor AB which ever ishigher.

The customer has to chooseamongst 3 plans, with different

premiums

6) Death of Parent If the child is 18 thenSA or accumulation

paid which ever ishigher


7) Death of Children Policy continues as it

is.

SA with accrued bonuses will be

paid

8) Riders Available ADBR/WOP FIB, PWB


53/71

BAJAJ ALLIANZ CHILD GAIN V/S KOMAL JEEVAN ( LIC )

Sr. No FEATURES KOMAL JEEVAN (LIC) BAJAJ ALLIANZ CHILD GAI N1) Min. Max child age 0-26 0-13 Years


Not Age 20-50 Years



5) Flexibility 20% of SA at 18 years of age

20% of SA at 20 years of age30% of SA at 22 years of age30% of SA at 24 years of ageGA at 70 per 1000 at age 26



6) Death of Parent NA 1) SA + Bonus2) Family Income Benefit

7) Death of Children SA+GA SA with accrued bonuses will be paid

8) Riders Available ADBR/IBR/WOP and upto20% of SA

FIB, PWB


54/71

SWOT ANALYSIS

ABOUT COMPANY

B aj aj A ll ia nz i s o ne o f t he m os t p ow er fu l, w or ld c la ss L if eI n s u r an c e C o , g a i n in g a p p r ec i a ti o n f o r t h e ir s t r o ng w o r d e t h i c s ,

exce l l en t pe r fo rmance , p ro fe s s iona l i sm and t eam work wh ich l ead

them to p rog re s s i n t oday s cha l l eng ing env i ronmen t . Though wi th

t h e i t s e x ce l le n ce p e rf o rm a nc e e v er y e f fo r ts h a s b e en m a de t o

p re sen t t he mos t au then t ic and t ru ly r ep resen ta t ive f ind ings , bu t

s o me u n co n tr o ll a bl e f a ct o rs d o a f fe c t t he p e rf o rm a nc e a n d t h us

b r ing abou t s ome dev ia t ions and hu rd les i n prog re s s . So , w i th i t ss t r eng ths and good qua l i t y, t he company i s hav ing some weakness ,

and th rea t s and oppor tun i t i e s . I t s SWOT ana lys i s i s a s be low:

S t r e n g t h s :

B a j a j A l l i an z i s t h e S e c o n d l a rg e s p r i v a t e p l a y er i n t h e i n s u r a nc e

indus t ry.

Exce l l en t Se rv i ce s .

Brand Image i s t he s t ronges t po in t o f Ba ja j A l l i anz In su rance

Company.

Bus ines s Expe r i ence .

S t rong F inanc i a l Base .

Innova t ive P roduc t s .

The company has a l a rge ne twork on b ranches wh ich i s he lpedto cus tomer fo r t he paymen t .

We a k n e s s e s

L o t o f c o m p e t i t o r s a r e i n t h e m a r k e t o f f e r s a m e p r o d u c t b y

the d i f f e r en t t i t l e and d i f f e r en t i n t he i r p r emium and o ff e r ing .

A p remium i s h igh a s compared to o the r compan ie s .


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Ta r g e t s f o r f i n a n c i a l a d v i s o r s a n d f o r t h e s a l e s d e p a r t m e n t

a re h igh .

C l i e n t s f a c e p r o b l e m s t o g e t i n s u r e d d u e t o l a rg e n u m b e r o f

fo rma l i t i e s .

O p p o r t u n i t i e s

H ug e m ar ke t i s l it er al ly u nt ap pe d. O ut o f e st im at ed 3 20

m il li on i ns u ra bl e m ar ke ts o nl y 2 0% o f t he p op ul at io n i s

in su red .

I n d i a n p e o p l e a r e m o r e e m o t i o n a l t o w a r d t h e i r c h i l d t h a t s

why ch i ld ren p l ans a r e s e l l i ng l i ke ho t cakes .

T h r e a t s :

We a k p e r c e p t i o n o f p r i v a t e p l a y e r s i n t h e m i n d s o f I n d i a n

peop le due to f r equent f inanc ia l scams .

La rge number o f i n su rance p l aye r s .

P l a y e r s l i k e B i r l a s u n l i f e a n d H D F C w i t h l o w p r e m i u m f o r t he s imi l a r p l ans .

E n t r y o f m a n y o t h e r p r i v a t e c o m p a n i e s w i t h e q u a l l y s t r o n g

expe r i ence and f i nanc i a l s t r eng th fo r fo re ign pa r tne r s mak ing

the compe t i t i on d i f f i cu l t and sa tu ra t i ng t he u rban marke t s .

Fo r t he i n su rance s ec to r Gove rnmen t s e t t he au tho r i t y t ha t i s

I R DA ( I ns u ra n ce R e gu l at o ry a n d D e ve l op m en t A u th o ri t y)

w h i ch i s u n d er t a k en t o t r a c k r e c o r d o f a l l t h e c o m pa n i e s a n d

change ru l e s day by day more r i g id wh ich i s ve ry d i f f i cu l t f o r

t he compan ie s .


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S W O T A N A LY S I S ( A B O U T P R O D U C T S T R E N G T H S )

1 ) G U A R A N TE E D E D U C ATI O N A L B E N E F I T S : Baja j A l l i anz

i s s o d e s i g n e d t h a t i t p r o v i d e s m o n e y a t i m p o r t a n t m i l e s t o n e s

w h at e ve r b e t h e u n ce r ta i nt y, t h es e p a ym e nt s w i ll b e m a de t o

y o u r c h i l d a t t h e c r i t i c al m i l es t o n es i n y o u r c h i l d s L i f e . B a j a j

A ll ia nz r ec og ni ze t ha t G ra du at io n a nd P os t G ra du at io n a re

i mp or ta nt m il es to ne s a nd h en ce B aj aj A ll ia nz C hi ld G ai n

p rov ides money a t thes e j unc tu re s .

2 ) D E AT H O F PA RE N T/ C H IL D : B a ja j A l li a nz i s t h e o n l y

company who g ives you the r i sk cove r o f bo th t he po l i cy ho lde r

and the ch i ld ren .

3 ) FA M I LY I N C O M E B E N E F I T: In ca se o f dea th o r acc iden ta l

t o t a l p e r m a n e n t d i s a b i l i t y o f t h e p o l i c y h o l d e r d u r i n g t h e t e r m

o f t h e p o l i c y, a m o n t h l y i n c o m e b e n e f i t 1 % o f t h e s u m a s s u r e d

( 12 % p er a nn um ) s ub je ct t o a m ax im um o f R s. 1 0, 00 0 p .m .

becomes payab le t i l l the end o f the po l icy te rm. Th i s bene f i t

w i l l no t be ava i l ab l e i n t he even t o f acc iden ta l pe rmanen t t o t a l

d i s ab i l i t y a f t e r age 65 o f t he po l i cy ho lde r.

W E A K N E S S

N O M E D I C A L R I D E R S : U n d e r t h i s p l a n n o m e d i c a l r i d e r a r e

p rov ided .

G R O W TH R AT E : G r o w t h r a t e o f i n v e s t e d m o n e y i s l i m i t e d a t

compare t o money inves t ed i n sha re marke t .


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L I Q U I D I T Y: U nd er t hi s p la n p ar en t c an no t g et t he m on ey

w he n t he y w an t. I ns te ad i t w il l b e p ro vi de d a t f ix ed p re -

de t e rmined in t e rva l s .

A G E L I MI T: T he m ai n d ra wb ac k o f t hi s p la n i s t ha t

f i n a nc i a l b e n e fi t s c a n b e a v a i l ed f o r t h e c h i ld i n t h e a g e g r o u p

of 0 -13 yea r s .

O P P O RT U N I T E S

Baja j A l l i anz shou ld p rov ide f i nanc i a l bene f i t s t o ch i ld ren

above 13 y r s o f age .

C h i l d G a i n p l a n c a n e n h a n c e i t s m a r k e t b y c a t e r i n g t h e

ru ra l a r ea .

T H R E AT S

P o l i c i e s w i t h n o a g e l i m i t o f c h i l d r e n a r e t h e m a i n t h r e a t

t o Ch i ld Ga in .

P re mi um r at e i s s o h ig h a s c om pa re t o o th er p ri va tecompan ie s .


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FACTS AND FINDINGS

1 . I n u r b a n a r e a o f t h e c i t y o n l y 1 2 % p e o p l e h a d i n v e s t e d i n t h e

name o f t he i r ch i ld r en .

2 . T h e r e i s a l o t o f s c o p e f o r t h e p o l i c y o f C h i l d G a i n a s i t i s i n

r each o f a lmos t a l l i nd iv idua l i n midd le c l a s s o f u rban s oc i e ty.

3 . A l ot o f i ni ti at iv e n ee ds t o b e t ak en i n s ch oo ls e sp ec ia ll y

p r iva te and admini s t ra t ion unde r t ak ing in s t i t u t ions t o wide

s p r e a d t h e a w a r e n es s a b o u t t h e p r o d u c t a n d t o c r e at e t h e n e e d

fo r i nves tmen t .

4 . A l o t m o r e a w a r e n e s s c a m p a i g n s h a s t o b e m o b i l i z e d i n t h e

u rb an a re as l ik e s ho pp in g p la za , G ov t. o ff ic es , C or po ra te

sec to r s whe re peop le cou ld i nves t i n to t h i s p roduc t .

5 . Aggres s ive marke t ing fo r Ch i ld Ga in p l an no t ye t t aken , so t h i s

po l icy shou ld be s o agg res s ive ly taken tha t i t s hould cove r a l l

s egmen t s o f popu la t i on .

6 . Company shou ld pu t hoa rd ings a t impor t an t pub l i c p l aces .


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SUGGESTIONS

1 . The re i s a ve ry good marke t fo r In su rance compan ie s i n Ind i a ,

compan ie s mus t have t o spen t money on Marke t ing S t r a t eg i e s .

2 . T h e s u r v ey s h o w s l e s s t h an 2 0 % h a v e t h e ir I n s u r a nc e p o l i cy,

m o r e t h a n 8 0 % p e r s o n s d o n t h a v e a I n s u r a n c e p o l i c y. T h i s

shows a good oppor tun i ty fo r In su rance .

3 . C o m p an i e s m u st h a v e t o o p e n t h e ir b r a n c he s i n e v e r y c i t y a nd

g iv es c om pl et e i nf or ma ti on a bo ut c om pa ny a nd c om pa ny

schemes .

4 . C o m p an i e s m u s t h a ve t o c o n v e n ie n c e t h e p e rs o n s t h a t, t h i s i s

no t a f r aud company.


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Q1.Do you know about Bajaj Allianz Life Insurance Company

Ltd?

Customer Awareness ResponseYes 5%No 95%

Response

Yes5%

No95%

YesNo

The above data and graph represents that maximum number of

people i.e. , 95% of the people dont know about the Bajaj Allianz Life

Insurance Company and only 5% of the people know about the Baja j

All ianz Life Insurance Company. I t s shows that company must have

to spent money on market ing s t ra tegy.

Q2. Do you have any Insurance Policy?


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Customers Having Life Insurance Response

Yes 12%No 88%

Response

No88%

Yes

12%

The data above and the graph represent that maximum number of

people i .e . 12% peoples having li fe insurance policy & res t of peoples

dont have l i fe insurance pol icy. I t s shows that there is a great

market for a insurance companies.

Q3.Which company policy you are having?

Policy Plan RespondentsLIC 90%


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Bajaj Allianz 2%ICICI Pru. 4%HDFC Std. 2%Tata Aig 2%

0%

20%

40%

60%

80%

100%

Respontents

LIC

Alianz Bajaj

ICICI Pru.

HDFC Std.

OM Kotak LifeInsurance

The data above and the graph represent that maximum

number of people i .e. 90% of respondents have the policy from

L.I .C, 4% respondents have pol icy from ICICI and 2% customer

have the policy from Allianz, Birla and HDFC. Itss shows that

mostly people trusted on Government companies.

Q4. If you have a Insurance policy, then for how much

amount?

For How Much Amount Response

Less that 1,00,000 88%More than 1,00,000 12%


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Response

Less than1,00,000

88%

More than1,00,000

12%

The da ta above and the g raph r ep resent t hat max imum number o f people that 88% have a Insurance pol icy but they are secured less than

1,00,000 Rs and only 12% are secured for more than 1,00,000 Rs. I t s

shows a great opportuni ty for the insurance companies .

Q5. Should Insurance sector be privatized?

Response Respondents

Yes 34%No 66%


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34%

66%

0%

20%

40%

60%

80%

Respondents

Respondents


people that 34% of people are in favour of the pr ivatization of the

insurance company where as 66% of people are not in favour.

Q6. Why you invest your money in Insurance?

Benefits of Life Insurance In% ageTax 53Risk 27

Saving 20


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0

20

40

60

Tax Risk Saving

In%age

In%age

The da ta above and the g raph r ep resent t hat max imum number o f

people i .e, 53% of people invest their money in insurance because

they are t rying to save Income Tax and only 27% people thinks about

a r isk cover and 20% people thinks this is just an investment .


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Q7. Which policy you are having?

Policies Planning %AgeMoney Back 62Endowment 22

Children 12Unit Link 4

%age

010203040506070

M o n e y

B a c k

E n d o w

m e n t

C h i l d r

e n

U n i t

L i n k

%age


people having Money back Plan and they are not in teres ted to

deposi t their money at long t ime. They are looking for a re turn s a t

regular intervals .

LIMITATIONS OF THE STUDY

1 . Ava i l ab i l i t y o f t ime .


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2 . Thi s su rvey in j u s t ba sed on 100 r e sponden t s i n Yamuna Naga r

and Jagadhr i .

3 . B aja j Al lia nz s ta f f r ema in in g e xt r eme ly b us y i n th ei r

p ro fe s s iona l a s s ignmen ts , l i t t l e t ime a r eas ava i l ab l e fo r me .

CONCLUSIONS


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In i t s f i r s t yea r o f ope ra t i ons , t he company has acqu i r ed t he No . 1

s t a tu s among the p r iva t e non - l i f e i n su re r s . As on 31s t March 2003 ,

Ba ja j A l l i anz Gene ra l In su rance ma in t a ined i t s l e ade r sh ip pos i t i on

by ga rne r ing a p remium income of Rs .300 C ro res . Ba ja j Al l ianz

a l s o b e c a me o n e o f t h e f e w c o m pa n i e s t o m a k e a p r o f it i n i t s f i r s t

f u l l y e a r o f o p e r a t i o n s . B a j a j A l l i a n z m a d e a p r o f i t a f t e r t a x o f

Rs .9 .6 c ro re s .

A c c o r d i n g t o m a r k e t s u r v e y f o l l o w i n g f a c t s w e r e a n a l y z e d .

Baja j i s a mos t r e l i ab l e b rand .

L i f e i n su rance i s mos t p r e f e r ab l e fo r s av ing Income Tax .

C h i l d r e n e d u c a t i o n a n d P e n s i o n P l a n i s t h e m o s t i m p o r t a n t

c r i t e r i a i n L i f e In su rance .

T h e r e i s a g r e a t o p p o r t u n i t y o f t h e I n s u r a n c e c o m p a n i e s t o

e s t ab l i sh t hemse lves .

BIBLIOGRAPHY


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B o o k s :

Resea rch Me thodo logy By Ko tha r i , C .R .

We b s i t e s :

www. i rda . com

www.hdfcbank . com

www.goog le . com

www.b imaon l ine . com

www. ic i c ip ru . com

CUSTOMERS QUESTIONNAIRE
http://www.irda.com/http://www.hdfcbank.com/http://www.google.com/http://www.bimaonline.com/http://www.icicipru.com/http://www.irda.com/http://www.hdfcbank.com/http://www.google.com/http://www.bimaonline.com/http://www.icicipru.com/


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Respected Sir,

We are hereby conducting the market ing survey on Bajaj All ianz Life

I ns ur an ce C om pa ny L td . S o p le as e s ha re s om e ti me f or f il lin g th e

quest ionnaire. We wil l be heart i ly thankful for your precious t ime gives tous.

Personal Information

Name:-_______________

Address:______________

Occupation:____________

Q1. To which Income group do you belong?

_________________________________

Q2. Do you know about Bajaj Allianz Life Insurance Company Ltd?

Yes No

Q3 . Do you have any Insurance Policy?

Yes No

Q4. Which companies policies you are having?

LIC Bajaj Allianz

ICICI HDFC

Tata Aig Dont Have

Q5. If you have a Insurance policy, then for how much amount?

Less than 1,00,000 More than__________ ___

Q6. Should Insurance sector be privatized?

Yes No

Q7. Why you invest your money in Insurance?


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Tax Benefit Saving

Risk Cover Other Reason

Q8. Which policy you are having?Money Back Endowment

Childrens Plan Unit Gain

bajaj life insurance

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