Professional Documents
Culture Documents
KISHANKUMAR J. SOLANKI
Clo MANOJ SOLANKI
B TIRUPATI APPTS 16 SANGAM SOC
AMBAWADI HIRABAUG CROSSING
AHMEDABAD - 380015
GUJARAT STATE, INDIA
e-mall: kishan_solanki@rediffmail.com
s
To,
Subject: Submission of Project Proposal for MS-100 (Student Enrolment no. MP - 909150356)
Dear Sir,
1. Proforma for Approval of Project Proposal duly signed by me & the Project Guide
Synopsis of project Prof50sal (4 pages) duly signed by-me & project Guide
3. Detailed Bio-data of the Project Guide Mr. Chetluru S. Ravi, duly signed by him
4. Copy of Re-registration acceptance at IGNOU Regional Centre, Ahmedabad dated 14/1/2009
Kindly note that my recorded address is as stated above, but I frequently visit Dubai, UAE & intend to
take up employment there shortly & hence taken up project relating to UAE with project guide who is
well experienced Professional working in Insurance sector in UAE.
Kindly requested to approve my Project proposal at the earliest and enable me to complete the Project
Work MS-100 at the earliest.
Thanking you
.
--
Yours faithfully
Encl: As above
Project Proposal No. 6L (]-:> '3. ~
(To be assigned by the School)
I MBA
Subject Area
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Name and Address of the Supervisor Mr. Chetluru S. Ravi
Vice President - Technical! Corporate Relations
Insure Direct (Brokers) LLC
PO Box: 57006, Dubai, UAE
Tel.: Direct: +971 44339419 Mobile: +971 506405983
Email: Chetluru.Ravi@dubaiworld.ae &
cs_ravihema@hotmail.com
APPROVED
NOT APPROVED
\/ APPROVED~l-<
NOT APPROVED
The _Construction Sector is vital and vibrant part of the Economy in United Arab
Emirates (UAE). Various Construction Projects in UAE are of high value and long
duration which involve complex execution process. Also there is high concern for
safety & environment protection. These factors make the Construction sector in
UAE as one of the highly risky business operations.
To mitigate high risks involved, Insurance of various kind viz. Contractor's All Risk
including Third Party Liability, Plant & Machineries, Workman Compensation,
Professional lndemnlty.etc are mandated Contractually by various participants of
the Construction Sector. The UAE is one of the largest insurance markets in the
iddl€ East Countries. In 2008, total premiums in the UAE market were aro,;;.u~n;.d;;"""" '__ -'I.
EO 15 billion. As per Hie market forecast the insurance market is growing by
more than 15 % per annum. There are about 50 Direct Insurance firms and more
than 200 Intermediaries in UAE engaged in providing insurance services of
various kinds. This has enthused to take up the study of Consumer Behaviour in
Insurance services related to Construction Sector in UAE
The Construction Sector is vital and vibrant part of the Economy in United Arab
Emirates (UAE). The main objective behind the project is to study and identify
consumer buying Behaviour regarding various type of insurance requirements of
the Construction Sector in UAE. It is expected that this study will help the
company managements of Insurance Provider organizations to study the analysis
and understand the behavior of consumer of their Insurance related services that
will ultimately enable to effectively market their product & services.
Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU - enroliment no. 909150356
Page 1 of 4
Beside the above main objective, there are following sub-objectives of this study:
a. Nature of data,
vi. Reason for the selection of specific insurance policy and provider
Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU - enrollment no. 909150356
Page 2 of 4
b. Data Sources,
The data sources shall be categorized into two categories - Primary and
Secondary:
• Primary Data: Primary data are those, which are collected for the first time,
and they are original in character. A suitable combination of Questionnaire,
techniques & discussion with the respondents will be used to collect the
required Primary data. Primary data gives higher accuracy and facts, which
is very helpful for any research and its findings.
• Secondary data: - The secondary data are those, which are already
collected by someone for some purpose and are available for the present
study. Secondary data will be collected from the magazines, websites and
other such sources.
The main statistical tools planned to be used for the collection and analyses of
data in this project will be:
• Questionnaire
• Pie Charts
• Bar Diagrams
Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU - enrollment no. 909150356
Page 3 of 4
6. The ex~ected contribution from the study:
The study will help the both the consumer of the Insurance as well as Insurance
Service provider in UAE.
The Consumer of the Insurance will appreciate various options available to them.
This will help them to choose from the Insurance providers who meet their
requirements at optimum cost to them.
The Insurance service providers will be able to better understand the needs of the
Consumers of their products and how various features of their insurance policies
affects buying decision of the Consumers. This will help them review their
marketing strategies in order to better marketing of their products
7. Limitations. if any:
Since the current study will be exploratory & cross-sectional in nature, it identifies
the buying behaviour of Consumers of Insurance services in UAE as a snapshot
only. Also, the sampling method used is convenience sampling due to time & cost
restrictions, and hence may not provide accurate results. The user of the study is
advised to have further in-depth analysis to confirm the results obtained under this
study. Atso, iorrgitodingj stO(rr(s~ame corrsu . ers over a period of time) may also
;--._..,.......-_.....----:.
be required to determine how the buying behaviour of consumers changes over a
period of time.
The current study provides only a Cross sectional perspective on general buying
behaviour of consumers of Insurance services. Further study on longitudinal
section basis may provide useful information to know the time effect on buying
behaviour. Also, detailed studies can be undertaken on why the consumer
behaves in particular way - to further explore deep reasons that may help fine
tune the marketing strategies of Insurance service providers.
Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU - enrollment no. 909150356
Page4 of4
Chetluru S. Ravi
Work Experience
Managing and overseeing the entire Technical & Corporate Relations Operations
Principal Accountabilities:
Principal Accountabilities:
• Accountable for increase in Broker and Direct business and Customer service
• Ensuring quality brokers and customers with prudent professional insurance practices
• Ensuring systematic collection process to have Bad debts and Churn under control.
• Expanding Marketing network in line with Company principles to give better service to
customers.
• Establishing relations with International markets for arranging Fac RI placements.
• Ensuring customer delight in al/ activities in sales and customer service.
• Encouraging good initiatives from the team and keep them engaged & motivated.
2
• Instrumental in optimal utilization of resources to keep up the achievement, in line with
Market forces
• Innovation in marketing strategies to increase awareness amongst insuring Population.
• Training & development of the Team on the job and off the job.
• Developing Tailor-made products in line with customer expectations
• Ensuring all Channel partners adhere to the principles of the Company.
• Keeping in touch with the trade through regular Broker Relation programmes for Brokers
and Customer seminars, with Customers through customer interface programmes and
personally meeting up with top Corporates & Brokers.
Principal Accountabilities:
Manpower Development
• Handle 7 executives, ensure discipline among executives, monitor route Marketing I
~_.-_-..;..-= -,- Broker activities through executives. _-_--_0--.-<
• Develop executives to handle market independently and effectively
Feedback
Principal Accountabilities:
1. Accountable for the claims and underwriting of all classes of insurance in the specific
Divisional office
2. Meeting the Company's Divisional annual Business plans comprising of Volume Targets,
New Direct Business Targets, Agents appointment, Branch coordination
3. Handling of technical & Sales team in the Division
4. Providing timely inputs through on the job training programmes, motivating the Sales
team to have a better performance, building relations ship with the trade.
3
5. Devising Strategies in line with Company's objectives and to review it on 0 daily basis to
have the best outputs.
6. Exercising prudent underwriting measures so as to eliminate bad risks
7. Have better hold on Market Intelligence to facilitate Proactive measures in combating
competition.
Kev Initiatives
• Identify Areas of growth and develop tailor-mode Package Insurance covers to suit the
needs of the Clients and devise strategies for aggressive marketing plans.
• Effective tracking and monitoring of Business Volumes status on a periodic basis.
Personal
Office Address:
Vice President - Technical I Corporate Relations
Insure Direct (Brokers) LLC
PO Box: 57006, Dubai, UAE
Tel.: Direct: +971 44339419
B 'an
~ Master of Business Administration from Madras University - India - 1998
~ Master of Public Administration - MA (PA) - Madras University, India -1990
~ Bachelor of Science ( Physics) from Madras University -India - 1984
~ Fellowship in Insurance from Insurance Institute oJ India, India - 1990
~ Pursuing ACII (London) and only 2 Papers to be completed
~ PG Diploma in Computer Applications from Private Computer Institute, India
Other activities
KISHANKUMAR J SOLANKI
C/O MANOJ SOLANKI
B- TIR ;PA TI AP ARTME TS
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