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the ppt is about peoples perception towards insurance.

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  • 1. A STUDY ON PEOPLES PRECEPTION TOWARDS INSURANCE INSURANCEBY BALAJI.G Register No:1062202 INTERNAL GUIDE Mrs.J.SHALINI

2. INTRODUCTION

  • . The study was a modest attempt to understand the peoples perception towards insurance by largest insurance company in the country. The study was conducted in the form of survey in around 130 peoples in variousparts of Chennai District.. Manybanking sectors and otherfinancial institutions have setup insurance services that specialize to some degree in various style of money planning. Most of the peoples have savings but they are not aware about insurance benefits and its various schemes.. Thisreportconsistsoftechniquesandmethodologyusedanalysis,findings, suggestions and constraints for the study that will help in improving the service being offered by the company

3. OBJECTIVE OF THE STUDY

  • PRIMARY
  • To study the perception of public towards insurance policies in ChennaiDistrict.
  • A study on national insurance companies ltd in Chennai.
  • Over all View of on Organization
  • SECONDARY
    • To study the investment policies of the people in Chennai District.
    • To identify how many people are aware about insurance and investment.
    • To understand the value for investment in future.
    • To analysis SWOT Analysis Give the better Suggestion and decision in the company.
    • To provide suggestion to the company.

4. NEED OF THE STUDY

  • ThestudywasheldatNationalInsurance,Chennaitoknowthe
  • perception ofpeople towards insurance.
  • This study helps theresearcher toknow the overall view of insurance in people National Insurance provides various types of insurance products and services .
  • The company wishes to expand their business and their services for increasing sales. Most of thepeoples have savings but they are notaware about insurance benefits and its various schemes.
  • So theresearchers intention is tofind out remedies forcreatingbetter sales. This research analyzes the perceptions and preferences of the public which helps them to gain competitive advantage over their competitors.

5. SCOPE FOR THE STUDY

  • The result of this research would help the company to have a better understanding about the consumers perception towards insurance.
  • The study helps the company by creating awareness about the consumers of different ages and income levels.
  • The study also enables the company to focus the consumers preferences and expectations on the product which they offer.

6. INDUSTRIAL PROFILE

  • After the passing of the General Insurance Business Nationalization Act in 1972, National Insurance Company Limited, (which was incorporated in 1906 and registered in Kolkata) became one of the four subsidiaries of General Insurance Corporation of India (GIC).Wholly owned and controlled by the Government of India, it continued its operation as a General Insurance Company subsidiary, until the August of 2002.Subsequent to the notification of the General Insurance Business (Nationalization) Amendment Act, on August 7, 2002 . National Insurance Company Limited (NIC) de-linked from its holding company GIC and started operating, as a Government of India undertaking. National Insurance Company has its head quarters in Kolkata.Being one of the leading public sector insurance companies of India, it effectively carries out the general insurance business in India.With a workforce of more than 16,000 personnel.National Insurance Companys has about 1000 offices, covering almost the entire country.Right from the metropolitan cities to the rural areas and remote townships . National Insurance Company has enveloped the length and breadth of India.While the domestic operations are carried out by the offices in india. The foreign operations are controlled from its branch offices in Nepal.

7. COMPANT PROFILE

  • National Insurance Company Limited was incorporated in 1906 with its Registered office in Kolkata. Consequent to passing of the General Insurance Business Nationalization Act in 1972, 21 Foreign and 11 Indian Companies were amalgamated with it and National became a subsidiary of General Insurance Corporation of India (GIC) which is fully owned by the Government of India.
  • After the notification of the General Insurance Business (Nationalization) Amendment Act, on 7 thAugust 2002, National has been de-linked from its holding company GIC and presently operating as a Government of India undertaking. National Insurance Company Limited (NIC) is one of the leading public sector insurance companies of India, carrying out non life insurance business.Headquartered in Kolkata,NIC's network of about 1000 offices, manned by more than 16,500 skilled personnel, is spread over the length and breadth of the country covering remote rural areas, townships and metropolitan cities, NIC's foreign operations are carried out from its branch offices in Nepal.

8.

  • Befittingly, the product ranges, of more than 200 policies offered by NIC cater to the diverse insurance requirements of its 14 million policyholders. National Insurance Company, a 103 years old organization is the second largest non life insurance company in India. Headquartered in Kolkata,
  • National Insurance Companys network of about 1000 offices, manned by more than 16,000 skilled personnel, is spread over the length and breadth of the country covering remote rural areas, townships and metropolitan cities
  • The Company is privileged to cater its services to almost every industry in the Indian Economy viz Banking, Telecom, Aviation, Shipping, Information Technology, Power, Oil & Energy, Agronomy, Plantations, Foreign Trade, Healthcare, Tea, Automobile, Education, Environment, Space Research etc. Having regard to its obligations under the corporate social responsibility, the company is also extending its services to the citizens of India living below the poverty line in a big way. This is done by way of providing various policies like UHIS, RSBY etc.

9. RESEARCH METHODOLOGY

  • Methodology is a systematic way of solving a problem it includes the research methods for solving a problem it includes the research methods for solving theproblem.

Type of researchDescriptive research Descriptive research Data source Primary and Secondary data Data collection methodInterview and survey Data collection toolsQuestionnaires Sampling universeChennai Sample size130 10. LIMITATIONS OF THE STUDY

  • The present study is based on the datas collected from Chennai so its results may notbe applicable to other areas.
  • Validity and reliability of the obtained depends on the responses from the respondent.
  • The size of the sample compare to the population is very less and hence it may not represent whole population.
  • Convenience sampling was used so all the limitations pertaining to this may alsobecame a part in the findings of this study.
  • At times the question had to be explained to the respondents due to their ignorance that could have influenced their views.
  • The time span was the another constraint, for the preparation of the questionnaire lot of study and consultation were required, so that it could be presented in such a way that could be acceptable to the respondent

11. FINDINGS

  • The findings that can be drawn from the survey conducted by us can be summarized in
  • The following way:
  • Bank Deposits are the most preferred investment alternative which is available to peoplefollowed by alternatives such as Insurance, Real Estate, Gold and Silver, Mutual etc.
  • It was found that 83% of the respondents were willing to take insurance under National insurance.
  • 82% of the respondent believes in money planning.
  • 50% ofthe respondents are preferred short term investments.
  • The scheme mostly preferred by insurance holders was life protection schemes like death benefits followed by retirement plans, wealth creation and high return plans.
  • It was found that nearly 51% of the respondents usually save 15- 20 %.

12.

  • According to the survey safety is the most important criterion which is excepted among all the respondents towards their investment alternatives followed by Return, Brand Name, Tax Benefits, Liquidity and Capital Growth.
  • 94% of the respondents are aware of the insurance.
  • According to the study company image is to be the highly important criteria which we consider before taking up a insurance this is mainly because people expect safety and security for their money which they invest, followed by the factor Premium which we pay to the insurer and then Bonus and Interest paid by the company, services etc.
  • It was found that 83% of the respondents were willing to take insurance under National insurance.
  • People who belong to different age groups have different perception regarding themost important criteria before taking the decision on a insurance policy.
  • 80% of the respondent believes that good insurance plan in benefit for there family.
  • 25% of the respondent prefers national insurancefor its utmost good faith

13.