research report on tata aig life insurance

8/11/2019 Research Report on Tata Aig Life Insurance

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UNIVERSITY OF MUMBAI

A PROJECT ON

RESEARCH REPORT (BANKING AND FINANCE)

SUBJECT: Research Me h!"!#!$%

I& Par 'a# F # '##*e& ! he re+ 're*e& &"er Se*es er B!ar" Cre"' a&"

B!ar" S%s e* !r P!s Gra" a e (PG)

Pr!$ra* &"er Fac # % ! C!**erce

SUBMITTED BY:

Na*ra a G!h'#

R!## N!,-.

PROJECT GUIDE

Pr! , A&' a

S%"e&ha* C!##e$e ! C!**erce a&" Ec!&!*'cs/ 0B0 r!a"/ Ch rch$a e/

M *1a'2344454


2/27

CERTIFICATE

Th's 's ! cer ' % ha Na*ra a G!h'# Ba&6'&$ a&"

F'&a&ce Se*es er 3(54.72.3) R!## &!, -.hass ccess ##% c!*8#e e" he 8r!9ec &"er he

$ '"a&ce ! Pr! , A&' a,

C! rse C!2!r"'&a er Pr'&c'8a#

Pr!9ec $ '"e I& er&a# E;a*'&er

E; er&a# E;a*'&er


3/27

DECLARATION

I Na*ra a G!h'# a s "e& ! M.com Part 2Banking and Finance Semester !2"#$%# & here1%

"ec#are ha I ha


4/27

AC'NO(LE)EMENT

I >! #" s'&cere#% #'6e ! $'#e"$e*e& a&" ha&6s ! *% 8are& s, A&% a*! & !

ha&6s $''## &e! #" #'6e ! ha&6 he U&'! #" a#s! #'6e ! ha&6 *% 8r!9ec $ '"e Pr! , A&' a

!r her he&e! #" #'6e ! ha&6 *% r'e&"s ?

c!##ea$ es !r a#>a%s 1e'&$ here,

Na*ra a G!h'# Na*e O S "e&


5/27

INDE*

SR.NO TOPIC PA)E NO.

., I& r!" c '!&

5, TATA AIG Va# es

7, Or$a&'@a '!&a# De


6/27

RESEARC+ REPORT ON TATA AI) LIFE INS,RANCE% C,STOMER FEEDBAC'

INTROD,CTION-

Ta a2AIG =' e I&s ra&ce C!*8a&% 's a 9!'& ee& he Ta a Gr! 8 ( 3 e+ ' %s a6e) a&" A*er'ca& I& er&a '!&a# Gr! 8 I&c, (AIG) (5 e+ ' % s a6e), The c!*8a&%! ers a 1r!a" ra&$e ! #' e '&s ra&ce 8r!" c s ! '&"'' h! a sa'"e#% 6&!>& '& I&"'a& h! seh!#"s,

The Ta a Gr! 8 's !&e ! he !#"es a&" #ar$es '&" s r'a# c!&$#!*era es '& I&"'a,Es a1#'she" '& . / ' has '& eres s '& e&$'&eer'&$/ c!&s *er 8r!" c s/ che*'ca#s/

'&a&c'a# ser' h s ra e$'c $ '"a&cer!* AIG s H!&$ K!&$ ! 'ce,

Ta a2AIG >as a*!&$ he e> 8r'


7/27

Cr c'a##% he CEO a88r!'## 1e !*!rr!> s h'$h ' h he re$ #a !r, I s'&s ra&ce 8r!$ra**e" has $e&era e" c!&s'"era1#e 8 1#'c' % !r Ta a2AIG 1eca se ' 's'&&!


8/27

O r >e ac a&" >!r6 !$e her !ach'ee 8r!' h ! r c s !*ers a&" ass!c'a es ar! &" he >!r#", e e;'s !

1 '#" s r!&$ re#a '!&sh'8s 1ase" !& !#era&ce/ &"ers a&"'&$ a&" * a# c!2!8era '!&, e s r'!r6 !r a&"re8rese& ,

Em0at4 - e * s a#>a%s >!r6 !r he 1e&e ' ! he c!** &' 'es >e ser


9/27

*ea& s'$&' 'ca& #a$s '& 8r!cess'&$ c s !*er ee"1ac6, Ta a2AIG !!6 a "' ere&a88r!ach 1% haas h're" 1% he CEO '& 544. ! he#8 Ta a2AIG *ee ' sR ra# a&" S!c'a# Sec !r O1#'$a '!&s,

As sh!>& '& he !r$a&'@a '!& char (A88e&"'; 5)/ he r ra# a&" s!c'a# ea* a##s &"er hea# er&a '' hsa#es/ seras &! a 8rere+ 's' e !r sec r'&$ a 8#ace !& he r ra# a&" s!c'a# ea*, Th's 's 8ar #%

1eca se '& I&"'a h!se >' h '&s ra&ce e;8er'e&ce e&" ! c!*e r!* he s a e2!>&e"c!*8a&'es a&" hah!#esa#er/>h'ch 1eca*e a c!r8!ra e a$e& !r Ta a2AIG a&" 8r!*! e" hese 8!#'c'es hr! $h ' s&e >!r6 ! *'cr! '&a&ce '&s ' '!&s, S!*e ! hese 8!#'c'es >ere 8'#! s a&" *a&% #a8se",I& he sec!&" %ear (Dec 45 2 N!< 47)/ Ta a2AIG ha" a& a""' '!&a# 5 3. s!c'a# 8!#'c'esa$a'& hr! $h TBF &e >!r6, D r'&$ h's %ear/ A hre%e sec re" a $ra& r!* D ID sF'&a&c'a##% Dee8e&'&$ Cha##e&$e F &" (FDCF) a&" 1e$a& ! "eere ! a "' ere& #e&$ h ha& he

#!a&s, Th's *ea& ha he serere s#!>/ >h'ch hea! a""' '!&a# s a *e*1ers/ !r a ! a# ! - e*8#!%ees ('& a## '&c# "'&$

he s a ! s! rce" ! NGO 8ar &ers !& he D ID 8r!9ec ), I& he 'rs ha# ! 544-/ he'&s ra&ce 8r!$ra**e rece'


10/27

F &"/ a *a ch'&$ $ra& !r >h'ch he 8r'' h se

O s! rc'&$ Fr!& 2e&" Pr!cesses:

I& he *'cr!2a$e& *!"e# se" 1% Ta a2AIG/ he r!& 2e&" 8r!cesses *!s #% se##'&$ a&"ser&,

Se#ec '!& a&" Tra'&'&$ ! A$e& s:

The cr' er'a !r he se#ec '!& ! a CRIG #ea"er '&c# "e:


11/27

., M s 1e a res'"e& ! he c!** &' % '& >h'ch she >'## se## a&" serr' e E&$#'sh: S'&ce he &"er>r' '&$ a he hea" ! 'ce 's '& E&$#'sh/ ' 's'*8era '!*e&,

, P 1#'c s8ea6'&$ a1'#' %: She >'## 1e re+ 're" ! a""ress #ar$e $a her'&$s ! 8r!*! eTa a2AIG s 8r!" c s,

, Tra'&'&$ s6'##s: S'&ce she 's he !% !&e ra'&e" !& '&s ra&ce/ she has ! ra'& he ! her ! r,

, M s hah'chhas he 6&!c62!& e ec ! 1 '#"'&$ he cre"' a1'#' % ! Ta a2AIG,

FAMILIARIT5 (IT+ INS,RANCE-


12/27

There are >! 1r!a" c#asses ! c#'e& h'ch re" ce" he

'*8ac ha he "ea h ! a a*'#% *e*1er >! #" haer a&" *'""#e2'&c!*e $r! 8s haere &e*e& 8!#'c'es has crea e""' 'c # 'es !r se##'&$ er*2#' e 1eca se ! he e;8ec a '!& ha '&s ra&ce *a% '&' h '&s ra&ce '& he 8as / >h'ch res # e" '&

he* 1e'&$ >ar% ! a88r!aches 1% Ta a2AIG s sa#es re8rese& a '


13/27

he *!s '& eres '&$ a&" '&&!! %8es ! a$e& *!"e#s, O&e 's ha ! $r! 8s ! a$e& s ca##e"CIRG s a&" he ! her ! '&"'h!* he #ea"er 's #'ce&se" as a& a$e& , The CRIG*e*1ers are %8'ca##% >!*e& 1eca se he% e&" ! >!r6 >' h/ a&" c!*e r!*/ se# 2he#8$r! 8s (SHGs) >h!se *e*1ers are s a##% >!*e&, h'#e &! he !% ar$e *ar6e / heSHGs re8rese& a& eas% >a% ! reach #ar$e & *1ers ! 8! e& 'a# 8!#'c%h!#"ers 1eca se

he *e*1ers are a#rea"% access'&$ '&a&c'a# serh'ch 's esse& 'a##% a 'r* ! '&s ra&ce a$e& s/ 's s 8eree6#% CRIG *ee '&$s, A he >ee6#% CRIG*ee '&$s/ he #ea"er rec!r"s he '&s ra&ce ac '! #"

"eser he 8r!$ra**e,

F!r e


14/27

I& a""' '!&/ here are '## !r$a&'@e a c!& ere&ce !rh!se r ra# *'cr!2a$e& s >' h he 1es 8er !r*a&ce, There >'## 1e sea s '& he c!&

Tra'&'&$ CRIGs: The *'cr!2a$e& *!"e# >'## !% s ccee" ' he r!& #'&e 8ers!&&e# ha2'&c!*e&e'$h1!rh!!"s ' crea es a &e> 8r! ess'!&/ he *'cr!2a$e& / >' h &e> #' r!* *a&% s ' a1#e NGO 8ar &ers/ >h'#e &! 1e'&$ "e8e&"a&!& a e> $!!" MFIs,


15/27

7, I 's s!*e '*es "' 'c # ! se## #!&$2 er* 8!#'c'es hr! $h MFIs 1eca se ! he #'&6 !he #!a&, The #!a& *a% 1e !r a sh!r er* (! e& 3 ! .5 *!& hs) a&" *a% &! 1e

re8ea e", ' h! he #'&6 ! #!a&/ here are &! ec!&!*'es ! sc!8e !r he MFI,

3, The MFI 8ar &er2a$e& *!"e# !% serh'ch &a ra##%

'&h'1' s $r!> h a&" he '&s ra&ce 's (a#*!s a#>a%s) #'&6e" ! a #!a&, N! ea& s ! 1e '& "e1 / a #eas &! a## he '*e, The CRIG *!"e# crea es a chea8 "'s r'1 '!&cha&&e# ha 's &! #'&6e" ! a #!a&/ ha ca& eas'#% ser' h! "'sa"


16/27

Be !re "es'$&'&$ he s!c'a# 8r!" c s/ he 8re ere&ces ! he ar$e *ar6e >ere"e er*'&e", D r'&$ he research/ ' >as c#ear ha he ar$e *ar6e "es're" 8r!" c s >' ha saere s#'$h #% >ea# h'er h! seh!#"s >h!/ >h'#es '## 8!!r (>' h a *!& h#% h! seh!#" '&c!*e ! #ess ha& USL.5-)/ c! #" a !r" s#'$h #%

*!re e;8e&s'as &! ac ar'a##% eas'1#e ! ! er ere 8r'ce", The "ea h c!/ ' >as "ec'"e" ! '&crease he "ea h

1e&e ' a&" re" ce he *a r' % 1e&e ' , Th's 's he reas!& !r he "ecreas'&$ saee& . a&" 34a&" a Rs .4/444 (L555) ' he% e& er he sche*e '& he *!re r's6% a$e $r! 8 ! 3. ! --,Th's ! er'&$ >as "es'$&e" ! s ' he &ee"s ! 8 re er* c!es c!s s! hae


17/27

O&e ! he *!s "' 'c # as8ec s ! *ar6e '&$ '&s ra&ce '& r ra# I&"'a 's $a'&'&$ he r s! 8! e& 'a# c#'e& s, h'#e h's 8r!1#e* 's c!**!& ! he sa#e ! a## '&s ra&ce a&" !rsa


18/27

The ra*e>!r6 !r $r'e' h'& T r& ar! &" '*es as

8er he PPI $ '"e#'&es rea" >' h he TATA s *e& '!&e" '& he sa'" N!& =' e I&s ra&ceC#ass' 'ca '!& ! he Gr'e


19/27

To c4 0oint Mode o1 recei0t

Bra&ches a&" ' s ass!c'a e" #!ca '!&s E& r% '& CRM Sca&&e" c!8% !& e2*a'#

D'rec c!*8#a'& s Har" c!8% #e ers

C s !*er S 88!r He#8"es6 e2*a'#s

Ma&a$er C s !*er S 88!r Hea" C s !*er Sere1s' e V's' TAGIC >e1s' e

I& er&e S!c'a# Me"'a e2Ma'#s

IRDA IGMS IRDA ca## ce& re e2Ma'#s Ca##s =e ers

STA)ES OF COMPLAINTS POST RE)ISTRATIONS-


20/27

I e* S a$e Ac '!&

. Ne> Ne> S a$e A## c!*8#a'& s rece' s a$e has ! 1e *ar6e" as ac6&!>#e"$e

a&" a& ac6&!>#e"$*e& ! 1e se& ! c s !*er#e"$e*e& ! 1e se& >' h'& T 5 "a%(>here'& T "e&! e he "a% c!*8#a'& 's rece'#e"$e*e& sh! #" c!& a'& &a*e a&""es'$&a '!& ! he ! 'cer ha&"#'&$ he c!*8#a'&a&" a#s! res!# '!& TATA,

7 Pe&"'&$ Pe&"'&$ S a$e A## c!*8#a'& s 8!sAc6&!>#e"$e has ! 1e *ar6e" as Pe&"'&$

'& CRM, I& he 8e&"'&$ s a$e he CGRUe;ec ''## re$ar" hec!*8#a'& as c#!se" ' ' "!es &! rece'' h'& >ee6s r!* he "a e he she rece'


21/27

(c) here he c!*8#a'&a& has &! res8!&"e"

r her >' h'& >ee6s ! he c!*8a&% s >r' e&res!# '!& res8!&se,

(") here he Gr'e'shes ! #!"$e a c!*8#a'& /she he ca& ca## ! r 53 he#8#'&e . 445 4,

A er '&e 6ee8 he c!*8#a'&a& '& !r*e" hr! $h'& er'* 8"a es,

Esca3ation Le7e3 #-


22/27

F!r a&% #ac6 ! a res8!&se !r ' he res!# '!& "!es &! *ee c!*8#a'&a& s e;8ec a '!&/she he *a% >r' e ! *a&a$er,c s !*ers 88!r a a2a'$,c!*, A er '&:

h 8: >>>, a aa'$'&s ra&ce,'& a'$ a'$ a a a'$ 8ers!&a# c s !*er ser


23/27

E*AMPLE #-

SHITA= AMIN745/ TEMP=E BE==S/ K,M,MUNSHI MARG/ CHO PATY/ MUMBAI 344 44 ,

T!/TATA AIG Ma&a$e*e& ,

REF: PO=ICY NO: 4.-45

C=AIM NO: 5453 73

Th's 's '& re ere&ce ! he a1!he& >e *ee s!*e1!"% #'6e Mr, K & a# Ra! >h! $'he&ee h'&6 !TATA2AIG >e h'&6 ! $!!" sera% *% '&s ra&ce c#a'*>as se #e", I& *% *! !r'&$ e;8er'e&ce ! .3 %ears/ h's 's he 'rs '*e e


24/27

Tha&6 %! !&ce a$a'&

E*AMPLE -

I >! #" #'6e ! $! !& rec!r" >' h !##!>'&$ ee"1ac6:

W I a* '&"ee" "e#'$h e" >' h TATA AIG0s c s !*er s 88!r a&" ser'sh he TATA2AIG ea* c!& '& e" s ccess a&" a Grea '*e ahea" W

E*AMPLE 9-

e a6e h's !88!r &' % ! a88rec'a e %! r 8!s' '!r6a1#e s!# '!& ! he 'ss es '&


25/27

I&s ra&ce 's &eh'ch >as hecase >' h AIG '& I&"'a,

Ma&% '&s ra&ce c!*8a&'es *a6e he *'s a6e ! ass *'&$ ha '&s ra&ce 's s'*8#% a*a er ! re" c'&$ he 8r'ce a&" 1e&e ' s ! e;'s '&$ 8!#'c'es, I&s ra&ce re+ 'ress8ec'a#'@e" s a a&" "' ere& "'s r'1 '!& cha&&e#s, The CEO ! Ta a2AIG rea#'@e" h'sa&" crea e" a s8ec'a#'@e" r ra# a&" s!c'a# 8r!" c s cha&&e# >' h'& he c!*8a&%, I >asa#s! '*8!r a& ! $'!r6'&$ >' h #!>2'&c!*e c!** &' 'es, Th's has 1ee& '*8!r a& 1eca se ! he "ra*a 'ca##% "' ere&a88r!ach ha >as &ee"e" ! se## a&" ser' h a& MFI/ Ta a2AIG rea#'@e" ha he ! a# & *1er ! MFIs >as #'*' e">' h res8ec ! 1! h + a& ' % a&" + a#' %, Re#%'&$ s!#e#% !& MFIs ! se## !&e s 8r!" c s>! #" &! 1e s 'c'e& '& he I&"'a& c!& e; , Th's #ea" he* ! e;8#!re ! her "'s r'1 '!&cha&&e#s, Par &er'&$ >' h MFIs !r NGOs &!&e he#ess re*a'&e" a cr c'a# c!*8!&e& '&Ta a2AIG s "'s r'1 '!& s ra e$%, The% re#'e" !& MFIs a&" NGOs !r '& !r*a '!& a1!

he #!ca# c!** &' %/ ! he#8 1 '#" r s >' h he #!ca# c!** &' %/ a&" '&a##% Ta a2AIG! s! rce" s!*e !8era '!&s ! he MFI NGOs ! #!>er ser


26/27

9 "$*e& !& >he her he *!"e# 's s ccess #, I ' 's s ccess #/ he *!"e# >'## 8r!


27/27

h 8: >>>,*! hsh ,c!* 8r!" c 2re

research report on tata aig life insurance

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