CONTENTS

PREFACE
ACKNOWLEDGEMENT
CERTIFICATE
DECLARATION

S.No

Topic or Chapter

1.

Chapter -1
1
2
3
4
5

2.

Chapter -2
1

3.

Promotional Policies of Aviva Life Insurance

CHAPTER -5
1

6.

Product or Policies of Aviva Life Insurance

Chapter- 4
1

5.

Objectives of Aviva Life Insurance

Chapter -3
1

4.

Company profile of Aviva Life Insurance

Mission and Vision of Aviva Life Insurance
History of Aviva Life Insurance
Board of Directors
Awards of Aviva Life Insurance

Research and Methodology of Aviva Life Insurance

Chapter -6
a

7.

Data Analysis and Interpretation

Chapter -8
a.

8.

Swot Analysis of Aviva Life Insurance

1. Limitations of the study

2. Recommendations
3. Findings
4. Suggestions

9.

Conclusion

10.

Bibliography

11.

Questionnaire

COMPANY PROFILE OF AVIVA LIFE INSURANCE

Page No.

Aviva India is a joint venture between one of the countrys oldest and largest groups, Dabur, and
Aviva Group, one of the UK's largest insurance group, whose association with India dates back
to 1834.
Our vision is to be amongst Indias leading life insurers with a quality business model, focused
on sustainable growth. We seek to build a robust product portfolio meeting all customer lifecycle
needs related to Protection, Retirement, Savings and Investments.
With a strong sales force of over 14,000 Financial Planning Advisers (FPAs), we have initiated
and pioneered many innovative sales approaches, including the concept of Bancassurance and
Financial Health Check services. We are among the first companies to introduce the
contemporary unit-linked products.
A seasoned team of fund managers make our fund management one of the key differentiators. In
India, with a wide distribution network of 134 branches spreading across nearly 1,000 towns and
cities, we operate in partnership with the Dabur Group through our 26% interest in Aviva Life
Insurance Company India Ltd.
Keeping with our commitment of social responsibility, we have been successful in reaching out
to the underprivileged strata through our Microinsurance initiatives.
"This is Aviva" tells the story of Aviva in the words of our customers, employees and charity
partners. It gives an insight into how Aviva makes a difference to the lives of our 34 million
customers around the world. Please let us know what you think about "This is Aviva" and we'd
be pleased for you to share it.
The film was commissioned by Aviva plc, produced by Visual Media, and would not have been
possible without the support of Aviva's customers and employees.

VISSION AND MISSION

Vision: One Aviva, twice the value.

By working together across our businesses, we will optimize our performance in
theglobal marketplace and maximize the value we can generate for all our stakeholders.

MISSION
Aviva's strategic plan has three main objectives:
1.

Narrow focus - Focus on fewer business segments where we believe we can produce
attractive returns and with a high probability of success.

2.

Build financial strength - Achieve target economic capital levels in line with our
industry peers, reduce capital volatility, and bring leverage down to a conservative level.

3.

Improve financial performance - Aim to deliver a higher level of revenue growth, a

lower cost-income ratio, lower losses and claims and higher return on capital,
notwithstanding the subdued economic environment in developed markets.

BOARD OF DIRECTORS
Name

Designation

T R Ramachandran

Chief Executive Officer & Managing Director

Rishi Piparaiya

Director, Marketing and Bancassurance

Ravi Bhadani

Company Secretary and Director - Legal & Compliance

Munish Sharda

Director, Direct Sales Force

Jyoti Vaswani

Chief Investment Officer & Director, Fund Management

Sanjeeb Kumar

Appointed Actuary

Anupam Tyagi

Chief Risk Officer

Amit Malik

Director, HR

Snehil Gambhir

Chief Operating Officer

Vijayalakshmi Natarajan

Director, Operations

Jitendra Nayyar

Director, Finance

Sanjay Satyapaul Arora

Associate Director, Internal Audit

AWARDS AND RECOGNITION

Aviva India won a Bronze at the Effies 2010 for the Aviva Great Wall of Education,
part of Aviva's Street to School Program. The Effies are among the top award platforms for
the advertising community in India and worldwide. Aviva Great Wall of Education

was awarded this elite recognition for the marketing effectiveness displayed during this
campaign.

Aviva India has won a Gold at the SPIKES Asia Awards, 2010 for the 'Aviva Great
Wall of Education' which is part of the Street to School programme. The SPIKES Awards is
one the most prestigious awards for creative advertising across the Asia Pacific region.
Aviva Great Wall of Education was awarded this elite recognition for the category- 'Best
use of Ambient Media'.

Aviva India has won the "Corporate Social Responsibility Award" at the prestigious
Asia Insurance Industry Awards 2010 for its corporate social responsibility programme
'Street to School' for demonstrating how corporate social responsibility can be closely and
successfully

tied

with

business

strategy.

Aviva Life Insurance India was selected from a number of high profile companies
competing for the honour of receiving the award.

Aviva India has won two major awards, at the CMO Asia Awards held in
Singapore Excellence in Branding and Marketing in Banking and Financial services,
and Social Marketing. Aviva India was selected for the two prestigious awards from
among more than 200 nominations from across Asia.

Aviva has been felicitated with the "Bronze Award for Excellence in People
Management" by Grow Talent Company Limited and Businessworld. This honour was
given based on our ranking amonst the top 25 companies as per the Great Place to Work
survery in the last four years.

HISTORY
Aviva can trace its history back to the establishment of the Hand in Hand Fire & Life Insurance
Society in London in 1696.

Predecessor company London and Lancashire Fire and Life, pictured in Dublin, ca. 1871
It was created by a merger of two British insurance firms, Norwich Union and CGU plc (itself
created by the 1998 merger of Commercial Union and General Accident) as CGNU in 2000.
The Aviva name was adopted in July 2002. Thereafter, most of the group operations, except for
some strong local brands, were carried out under the uniform brand "Aviva".
During March 2005 Aviva acquired the RAC plc breakdown recovery operation for around
1.1 billion.
In July 2006, Aviva greatly increased its presence in the United States by acquiring AmerUs
Group, a Des Moines-based financial services company founded in 1896 in a $2.9 billion (1.6
billion) deal. AmerUs Group was rebranded as Aviva USA when the acquisition was completed.
The Company continued to use the Norwich Union name as a trading name in the UK until 1
June 2009 when it became formally known as Aviva within the United Kingdom. The launch was
supported by a 9 million advertising campaign to promote the rebranding (one of the most
expensive ever in the UK insurance field), with the participation of celebrities includingBruce
Willis and Alice Cooper.
In June 2009 the Company decided to dispose of Navigator, its Australian wealth management
business, to National Australia Bank for A$825 million (401 million).

In October 2009 the company decided to focus on its commercial insurance sector and
demonstrate its commitment to brokers by launching their 'find a broker' facility, using the
British Insurance Brokers Association search engine. To help them with this endeavour, Paul
Whitehouse was recruited to play the part of a successful hairdresser running three salons. The
message of the campaign focused on business insurance through insurance brokers.[16] The
closing line of the campaign was "We're in business to keep you in business".
In September 2011, Aviva completed the sale of RAC plc breakdown recovery operation for
1.0 billion to The Carlyle Group.
In February 2012, Aviva sold its occupational health business to the British support services
company Capita.
In July 2012, Aviva announced plans to sell or close 16 non-core businesses in order to simplify
its activities and boost shareholder returns. As part of the plans Aviva announced the sale of its
operations in South Korea and the closure to new business of its bulk-buying annuity unit in the
United Kingdom.
In August 2012, Aviva announced that up to 800 jobs would be lost following a reorganization
caused by further turmoil in theEurozone.
In December 2012, Aviva agreed to sell Aviva USA Corporation to Athene Holding for US$1.8
billion (1.1 billion) as part of a plan to improve shareholder returns and reduce the group's
capital requirements. Athene subsequently sold the life insurance business of Aviva to Atlantic
Global.

OBJECTIVE
PRIMARY OBJECTIVES
To know about Promotional policies of Aviva Life Insurance.
SECONDARY OBJECTIVES

 The main objectives of this project is to find, what steps Aviva Life Insurance is
adapting to be market leader and to differentiate itself from its competitors.
The basic objective of this project is as mentioned above to find ways so that
Aviva Life Insurance remain market leader by considering all the needs &wants
and fulfilling their demand.
To find out the Strategy of Aviva Life Insurance to remain market leader in
future.
It should do something to give after sales service and collect feedback from the
customers.

PRODUCTS OF AVIVA LIFE INSURANCE

1. Aviva Child Plans
a. Aviva Young Scholar Advantage
Overview

Aviva Young Scholar Advantage is a comprehensive plan that enables you to secure your childs
future in any eventuality through:

All future premiums being waived off and invested as a lump sum amount in to the
funds, so the policy continues even in the unfortunate event of the parents death while the
Life Cover (Sum Assured) is paid out immediately.

Provision of a regular income for the minor child, in the event of parents death if Aviva
Child Education (CE) Rider is opted for

An additional lumpsum being paid in the event of parents death if Aviva Term Plus
Rider is opted

Loyalty Additions to enhance your Fund Value

A choice of 9 fund options; Investment flexibility through Automatic Asset

Allocation (AAA) and Systematic Transfer Plan (STP)

The product will be offered only to those who have atleast one child

b. Aviva Young Scholar Secure

Overview
At Aviva we believe there is no greater insurance in the world than a good education. Education
is the bridge between your childs dreams and reality. This journey has many milestones
-schooling years leading up to Board exams, entrance exams, college years and professional
courses. Each of the milestones has a cost attached to it right from extra coaching for Boards to
reference material for entrance exams to admission fee for a professional course.
Now guarantee funds for each of these milestones with Aviva Young Scholar Secure and
provide your child the best education. With Aviva Young Scholar Secure you can plan your
savings and payouts for your childs education in a manner that match the childs educational
journey.
c. Aviva Family Income Builder

Overview
At Aviva we recognize your efforts & hard work to provide your loved ones with a comfortable
life today and tomorrow. Presenting Aviva Family Income Builder, a plan that helps you in
ensuring a comfortable future income for your family by guaranteeing returns equal to double the
premiums you have paid. Not only is this guaranteed income paid on your survival, it is also
passed onto your family in case of your unfortunate death to take care of their future financial
requirements. This ensures that you continue to provide your family with the same lifestyle
thanks to a guaranteed future income.

2. Aviva Saving Plans

a. Aviva Wealth Builder
Overview
We
all

have
aspirations and milestones that we hope to achieve in our life. Be it

commitments such as a childs education/marriage, or dreams of purchasing a house, or retiring

comfortably. We plan for the time when these events are likely to happen, but dont always plan
for having enough to fulfil them as per our dreams. At Aviva we recognise this and have
specially designed Aviva Wealth Builder plan to help you achieve these dreams to the fullest.
This life insurance plan guarantees double the amount of total premium that you pay, at maturity.
Thats not all, Aviva Wealth Builder also ensures that your family is well protected, in case you
are not around. So, go ahead and fulfil your dreams. Key attractions of the plan are:
Doubles your money for defined milestones
Guaranteed protection for your family in case of your death
Flexibility in choosing premium payment and policy terms
Tax Benefits at the time of investment as well as maturity, for regular premium policies

b. Aviva Live Smart Plan

Overview
Aviva

Live

Smart
PlanTM is a non-participating Unit Linked endowment plan designed to meet your future financial
needs by helping you invest as per your risk-taking capacity. It also offers a high life cover to
protect your family in case of your sudden death. This life cover includes both the Sum Assured
& Fund Value, thus providing you complete peace & comfort.
Flexibility to choose Investment term of 15/20/25 and 30 years
Comprehensive protection in case of death Higher of Sum Assured or 105 percent of all
premiums paid

plus the Fund Value to address immediate financial concerns of your

dependents
Option to choose from 7 investment fund options
Flexibility to use your money in case of emergency through partial withdraws and systematic
partial withdrawals
Pay top-up premiums to increase the savings element along with a nominal life cover
c. Aviva Dhan Samruddhi

Overview
Aviva

Dhan

Samruddhi is a traditional life insurance plan that gives guaranteed

cash back every 5 years in addition to guaranteed maturity benefit, to meet your short and long
term needs.

Guaranteed returns: Your policy earns a Guaranteed Addition of 7% per annum to 9% per
annum of the Annualized Premium (excluding taxes and any other extra premium), depending
upon the policy term chosen by you,till the end of the policy term which is payable at maturity.
Liquidity: Your policy pays back 125% of the Annualized Premium (excluding taxes and any
other extra premium) as Survival Benefit every 5 years (except at maturity)
Guaranteed Maturity Benefit: At maturity, you get the Sum Assured plus accrued Guaranteed
Additions minus Survival Benefits already paid.
Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum Assured is Rs.
5 Lacs or higher.
d. Aviva Dhan Vriddhi

Overview
Aviva Dhan Vriddhi is a traditional money back plan that provides you a guaranteed amount of
money at regular intervals along with protection through the Life Cover (Sum Assured), in the
event of death

Guaranteed returns: Guaranteed Additions @7% of Life Cover for each completed
policy year till maturity

Limited premium payment: Premiums are not required to be paid during the last five
years of the policy

Additional protection: You can opt from 2 riders to enhance protection

Rebate for high Sum Assured: Rebate on basic premium is allowed if your Sum
Assured is Rs. 1 Lac or higher
d. Aviva Dhan Varsha

Overview

Aviva Dhan Varsha is a traditional investment cum protection

plan that provides you Guaranteed Addition of 6% to 9% of the sum assured along with life
protection

Guaranteed Additions basis the policy term, longer the Policy Term, higher the rate of
Guaranteed Additions

Guaranteed Survival Benefit equal to sum of all accrued guaranteed addition at the end
of the Premium Payment Term

Guaranteed Maturity Benefit at the end of the Policy Term

No premium payment liability during the last five years for policy term of 10, 15 and 20
years

e. Aviva LifeBond Advantage

Overview

Aviva LifeBond Advantage is a Single Premium

unit

linked insurance plan that offers you an

opportunity to invest a lump sum for medium to long term together with Life Cover and
flexibility to access your money after 5 years, besides the regular tax benefits through:

7 unit linked funds as well as two options for life cover

Extra financial protection through the inbuilt Accidental Death Benefit

Systematic partial withdrawal for hassle free structured withdrawal

Opportunity for additional investment with a nominal life cover (top-up)

f. Aviva Freedom Life Advantage

Overview
Aviva
Freedom Life
Advantage allows you to choose the proportion of
savings and protection and change it subsequently, in line with your changing needs, with the
option to pay premiums for as few as 5 years, through:

Option to increase / decrease Life Cover (Sum Assured)

Option to cover husband and wife under the same policy

100% allocation from sixth year if Annual Premium is Rs. 1 lakh or more

Inbuilt Accidental Death cover

Loyalty additions every 3 years from the end of 10th policy year

Pay off all the premiums in 5 years or choose to pay throughout the term

Flexibility to choose Life cover

Enhance maturity proceeds and life cover with Top-up Premiums

7 fund

options

(Bond-II,

Protector-II,

Balanced-II,

Growth-II,

Enhancer-II,

Infrastructure and PSU), AAA & STP

3. Aviva Retirement Plans

a. Aviva Next Innings Pension Plan

Overview
Wouldnt it be great if you could lead a comfortable lifestyle even after retirement? Realizing
this need, Aviva presents a plan that can guarantee a regular income stream for your post
retirement years. Aviva Next Innings Pension Plan- a pension plan that helps in building a lump
sum through a regular or onetime investment. This lump sum allows you to get an uninterrupted
income throughout your retirement years.
Aviva Next Innings Pension Plan is a unique combination of a built in guarantee to build a lump
sum amount to secure regular income for your retirement years. So go ahead and plan for a great
next innings!
Key features of the plan are:
Guaranteed corpus for retirement which will be 210% of the premiums you have paid, if you
continue this policy till maturity date by paying all due premiums.

 Protection for your family in case of death to ensure that your family receives a corpus basis
the amount of premiums you have paid along with an interest.
Limited Premium Payment term to ensure that you enjoy your income without worries when
you are nearing retirement
b. Aviva Freedom Life Advantage

Overview
Aviva

Freedom Life Advantage allows you to choose the

proportion of savings and protection and change it

subsequently, in line with your changing needs, with the option to pay premiums for as few as 5
years, through:

Option to increase / decrease Life Cover (Sum Assured)

Option to cover husband and wife under the same policy

100% allocation from sixth year if Annual Premium is Rs. 1 lakh or more

Inbuilt Accidental Death cover

Loyalty additions every 3 years from the end of 10th policy year

Pay off all the premiums in 5 years or choose to pay throughout the term

Flexibility to choose Life cover

Enhance maturity proceeds and life cover with Top-up Premiums

fund

options

(Bond-II,

Protector-II,

Infrastructure and PSU), AAA & STP

c. Aviva Annuity Plus

Balanced-II,

Growth-II,

Enhancer-II,

Overview
Aviva Annuity Plus is a non-participating, non-linked immediate annuity plan specially designed
to provide you with lifetime income during your post-retirement years.
Immediate annuities are designed to provide you with income immediately, by exchanging your
Pension Plan proceeds. In exchange for this lump sum premium, the insurance company pays
you a stream of income as long as you live.
Key attractions of the plan are:
Option to select from 5 annuity options to suit your specific financial needs
Annuity amount payable is guaranteed for the life of the policy
Flexibility to enhance the Purchase Price at inception for higher annuity installment
4. Aviva Protection Plans
a. Aviva LifeShield Plus

Overview
Aviva LifeShield plus provides comprehensive protection for your family at a nominal cost
through:

Payment of Life Cover (Sum Assured) to your family in the event of your death.

Most competitive rates

b. Aviva LifeShield Advantage

Overview
Aviva LifeShield Advantage provides comprehensive protection for your family incase you are
not around. Additionally, all the money paid as premium will be returned to you on survival at
the end of the Policy Term through:

Payment of Life Cover (Sum Assured) to your family in the event of your death
(Option A)

Additional protection against Accidental Permanent Total Disability (Option B)

Return of the money paid towards the base premium on your survival at the end of the
policy term

A rebate on your premium for higher levels of Sum Assured

c. Aviva LifeShield Platinum

Overview
At
Aviva we are constantly innovating because we believe that each one of us is
different and so is our expectation from our life insurance plan. Presenting Aviva Life Shield

PlatinumTM, a unique protection plan to help you plan for your family in case you are not
around.
Option A Life Protection
Choose this option if you foresee a need for lump sum payment of large sum of money to your
family in case you are not around.We offer differential rates for Smokers, Non-smokers and
preferred rates for (Healthy) Non-smokers.
The special rates for non-smokers is subject to Cotinine test, which is available inselect cities.
Option B Income Replacement
Choose this option if you want to provide a regular monthly income to your family in your
absence. This amount increases by 5% p.a. compounded annually from the very first year of your
policy to beat inflation. Your premium obligation is limited to about 2/3rd of the policy term.
Option C Loan Protection.
Choose this option to cover for higher financial liabilities and family responsibilities in the early
years of your life, the Life Cover decreases evenly across the policy term. Your premium
obligation

is

limited

to

about

2/3rd of

the

policy

term.

This Insurance plan offers rebate on your premium for higher levels of Sum Assured.
d. Aviva i-Life
Overview
In

todays

fast-paced

life, rarely do we stop and

take stock
of the life cover we provide for our families in case something
unfortunate was to happen to us. To ensure your families are secure and lead a comfortable life,
in case you are not around, we bring to you Aviva i-Life - A pure life insurance cover for your
loved ones at a very nominal cost.

To offer you convenience at your fingertips, you can buy this term plan online to save the time
and effort that would have been otherwise required.
e. Aviva Health Secure

Overview

Due to our current lifestyle and stress levels, incidents of critical illnesses, especially at younger
ages have gone up. You would also be aware that the costs incurred in the treatment of such
illnesses are very high. Often, your savings are not enough to cover for these expenses which can
lead to a compromise in getting the best treatment.
Aviva Health Secure is an online health insurance plan that pays you a lump sum amount as
decided by you in case you are diagnosed with any of the 12 critical illness and procedures as
listed ahead like first Heart Attack, Stroke resulting in permanent symptoms etc.
f. Aviva i-Shield
Overview
You

work hard to provide the best for your family

and

want

ensure
to

to

that their happiness lasts forever. An important next step is

ensure

they are protected financially in the future as well. Aviva presents to you our

latest online term plan Aviva i-Shield. This is a term assurance plan with return of premium that
protects your family in case you are not around. Moreover this plan pays back 110% of all the
premiums you have paid at maturity if nothing were to happen to you. So, not only does your
family get the benefit of life cover in case of your unfortunate death, but you get all premiums
that you have paid back if you survive.

High protection cover at nominal cost

110% of the premiums paid back as survival benefits, guaranteed

Premium rebate on choosing Sum Assured of Rs. 20 Lacs and above.

Free Medical examination at inception of the policy

Convenience of quick and hassle free buying through internet

To offer you convenience at your fingertips, you can buy this term plan online to save the time
and effort that would have been otherwise required.
5. Aviva Health Plan
a. Aviva Health Secure

Overview

Due to our current lifestyle and stress levels, incidents of critical illnesses, especially at younger
ages have gone up. You would also be aware that the costs incurred in the treatment of such
illnesses are very high. Often, your savings are not enough to cover for these expenses which can
lead to a compromise in getting the best treatment.
Aviva Health Secure is an online health insurance plan that pays you a lump sum amount as
decided by you in case you are diagnosed with any of the 12 critical illness and procedures as
listed ahead like First Heart Attack, Stroke resulting in permanent symptoms etc.
6. Aviva Rural Plan
a. Aviva Amar Suraksha

Overview
Aviva
Amar
Suraksha

is

an

ideal

protection plan that helps you secure your family's future through:

A guaranteed lump sum amount in the unfortunate event of your death

Minimal annual premium of Rs. 500.

b. Aviva Jana Suraksha

Overview
Aviva Jana Suraksha provides comprehensive financial protection for your children/dependants
through:

Low cost life insurance

Guaranteed lump sum amount in case of your death during the term of the policy.

c. Aviva Grameen Suraksha

Overview
Aviva Grameen Suraksha is an ideal low cost solution to help you protect your loved ones
through:

Payment of Sum Assured to your family in the event of your death

Premium payment for 2 years and benefits for full the policy term

RESEARCH METHODOLOGY
Meaning of research
Research in common parlance refers to a search for knowledge. Once can also define search as a
scientific and systematic search for pertinent information on a specific topic. Infect research is an

art of scientific investigation. The advanced learners dictionary of current English lay down the
meaning of research as A careful investigation or inquiry specially through search for new facts
in any branch of knowledge.
This inquisitiveness is the mother of all knowledge and the method which man employs for
obtaining the knowledge of whatever the unknown can be termed and research.
What is research methodology?
It is the science that tells the method of doing research.it mainly consist of following steps;
Developing research design.
Determining the data collection.
Developing sampling plan.
Conducting field work.
Research in comman parlance refers to a search for knowledge .One can also define research as
a scientific and systematic search for pertinent information on a specific topic.The word research
has been derived from French word research means to search.
Definition of research methodology:
Research may be defined as a careful investigation or enquiry specially through
search for new facts in any branch of knowledge in a technical sense research comprise
defining& redefining problems, formulated making deduction & researching conclusion & at
least carefully testing the conclusion to determine weather they fit the formulating hypothesis.

Research design:
Research design is the conceptual structure within which research is conducted. It
constitutes the blueprint for collection, measurement and analysis of data. The design used for
carrying out this research is descriptive.

Research design used in the survey:

Considering the objectives of the study and also the importance of the decision it
was decided to undertake an exploratory survey.
Data collection:
1. primary data-primary data are those which are fresh and collect for the first time and
thus happen to be original character.
2. Secondary data-It is the data that is already been collected by someone else.
In this survey I used both primary and secondary data. All information collected through
questionnaire.
Data sources:
The sources of collection of primary data are:
Questionnaire
The sources of collection of secondary data are:
Books
Websites
Magazine
Brochure
Analysis and interpretation:
Data collection through questionnaire and personnel interview resulted in
availability of the desired information but these were useless until there were analyzed.
Various steps required for this purpose were editing, coding and tabulating. Tabulating
refers to bringing together similar data and compiling them in an accurate and meaningful
manner. The data collected by questionnaire was analyzed, interpreted with the help of
table, bar chart and pie chart.
Sampling plan

It is very difficult to collect information from every members of population as time and cost are
the major limitation that the researcher faces a sample 50 was taken the sample size of 50
individual where selected on the basis of convenient sampling techniques. The individuals were
selected in the random manner form sample and data were collected from research study.
Need for sampling
Sampling can save time and money. a sample study usually less expensive than a sensus
study and produces result at a relatively faster speed.
Sampling remains the only way when population contain infinitely may members.
Sampling remains the only choice when a test involves the destruction of the items under
study.

PROMOTIONAL POLICIES OF AVIVA LIFE INSURANCE

Press Releases:-

viva Launches 'What's Your Big Plan'

Date: 12-Aug-2013
Aviva Life Insurance today announced the launch of a nationwide campaign, Whats your Big
Plan, to give an opportunity to young parents to fulfill their childs aspirations
Aviva encourages children to dream big - Kicks off Whats your Big Plan campaign

20 winners to get Aviva scholarships and a chance to interact and play cricket with
Sachin

Tie-up with Croma and McDonalds stores in select cities

Campaign open for children in the age group of 3 years to 10 years

Mumbai/ New Delhi, August 12, 2013: Aviva Life Insurance today announced the launch of a
nationwide campaign, Whats your Big Plan, to give an opportunity to young parents to fulfill
their childs aspirations. The month long campaign will give 20 children a chance to win
scholarships worth Rs 20,000 each from Avivas brand ambassador Sachin Tendulkar and play
cricket with him. To participate, students have to log on to www.avivaindia.com, share their big
plan in life and how their parents are supporting them to realise this dream. In addition to this
grand

prize,

10,000

children

will

receive

educational

DVDs

from

Aviva.

To maximize the reach of the campaign, Aviva has partnered with select Croma stores in 7 cities
(New Delhi, Kolkata, Pune, Hyderabad, Bangalore, Mumbai and Chennai) and McDonalds
stores in 4 cities (Mumbai, New Delhi, Kolkata, Pune) where children can walk-in and drop their
entries. Besides entering the contest online and through Croma and McDonalds stores, students
from more than 200 schools in these 7 cities will get an opportunity to participate through an onground activation programme. Final winners will be selected by an eminent jury from the field of
media and advertising.
Speaking about the campaign, Avivas Brand Ambassador, Sachin Tendulkar said My big plan
in life was to play cricket and my father and family supported me in it. Avivas Whats your big

plan is an exciting initiative that will encourage children to dream big, and help parents take a
step towards realising their childs big plan in life.
Mr. Rishi Piparaiya, Director-Marketing, Aviva Life Insurance said We believe that each parent
has a very important role to play in encouraging their child to dream big. Taking this insight
forward and the brand promise of securing childrens future, we have launched Whats your Big
Plan campaign, which will give parents an opportunity to protect and nurture their childs
dreams in life. It will not only give children a platform to aspire for a brighter future, but also
help parents to be financially prepared in order to fulfill their plans.
PROMOTIONAL TOOLS
Social Media Campaign Review: Whats Your Big Plan by Aviva Life Insurance
Aviva Life Insurance has initiated a nationwide campaign called Whats Your Big Plan in
association with The Times of India as the presenting partner and Croma as the activity partner.
The duration of this campaign is one month starting from the 12th of August 2013.
Objective:
To give young parents the opportunity to fulfil their childs aspirations and promote their life
insurance policies through brand management.
Execution:
Aviva India wanted to reach out to young parents and provide them an opportunity to secure their
childs future through this campaign. They are giving 20 children a chance to win scholarships
worth Rs. 20,000 each. Sachin Tendulkar, the brand ambassador has been used to promote the
campaign. The winning kids will also get a chance to play cricket with him.

The campaign is being run on their microsite. Children between the age 3 and 12 can participate
in this contest along with the assistance of their parents.The contest as the name suggests is about
the childs Big Plan. Participants have to tell Aviva what they want to be when they grow up,
why it is their big plan and who their role model is. Parents also have to write why they support
their childs Big Plan. Both the child and parent details are required for submission of the
entry.

Aviva has also merged with Croma and McDonalds for this campaign. Participants can also drop
in their entries at select outlets of their stores in different cities mentioned on the microsite.
Students from more than 200 schools will also get an opportunity to participate through an onground activation programme. Final winners will be selected by an eminent jury from the field of
media and advertising.
The contest is promoted on their facebook and twitter pages redirecting to the microsite to
participate.

A video shot with Sachin Tendulkar is being promoted on their pages for the activation of the
campaign. On sharing the video on facebook, Aviva India will donate Rs. 1 per share towards the
education of underprivileged children.

Positives:
The campaign connects well with the emotional aspect of consumers and using it for building
brand identity amongst new consumers. Parents and children being the target audience, a childs
future is the most important aspect.
Associating it with Sachin Tendulkar and offering a chance to play cricket with him gives an
overwhelming response!
The promotions on facebook and twitter are very interesting and dynamic. They have used
parenting tips and advices along with images of their brand ambassador in a good, non-repetitive
way. The likes, shares and comments on these posts are considerable.
The campaign is being run both online and offline with integration of local stores, making it
easier for consumers all across to participate.

They have maintained traction to their website through this contest. An interested consumer gets
an opportunity to view their products too.
They

have

created

buzz

on

Twitter

with

interesting

Quiz

Contests

like #Aviva #WhatsYourBigPlan

Scope of Improvement:
Aviva has launched their campaign as Whats Your Big Plan but their URL to the microsite
does not include the campaign name, KidsKonnect is being used instead, a segment with
which the campaign has been infused with. This could affect their seo and confusion while
sharing the contest link.
Conclusion:
Aviva has used the basic concept of a childs future for their campaign and it connects well to the
audience. The prize is not limited to one participant but to 20 participants, with a considerable
prize amount, broadening the campaigns reach.

DATA ANALAYSIS AND INTERPRETATION

Q1. Are you aware about Aviva Life Insurance?
YES
85%

NO
15%

15%

YES
NO

85%

According to survey we find that 85% of customers are aware about Aviva Life Insurance
while 15% are not.

Q2. Have you owned any policy of Aviva Life Insurance?

YES
40%

NO
60%

40%
60%

YES
NO

According to survey we find that 40% of customers are owned a policy of Aviva Life
Insurance while 60% are not.

Q3. Which type of policy do you owned?

CHILD PLANS
SAVING PLANS
RURAL PLANS
RETIREMENT PLANS
HEALTH PLANS

28%
35%
5%
15%
17%

17%

28%
CHILD PLANS

15%

SAVING PLANS
RURAL PLANS

5%
35%

RETIREMENT PLANS
HEALTH PLANS

According to survey we find that 28% of customers are owned a Child plan of Aviva Life
Insurance, 35% customers have Saving plans, 5% customers have Rural plans, 15%
customers owned Retirement plans while 17% customers are owned Health plans.

Q4. Are you satisfy with the returns and Settlements of policy after maturity?
YES
65%

NO
35%

35%

65%

YES
NO

According to survey we find that 65% of customers are satisfy with Aviva Life Insurance
while 35% are not.

Q5. Rate the product about your satisfaction?

GOOD
VERY GOOD
EXCELLENT
POOR

52%
20%
18%
10%

60%
52%
50%
40%
30%
20%

20%

18%
10%

10%
0%
GOOD

VERY GOOD

EXCELLENT

POOR

According to survey we find that 52% of customers are likely to says that its Good, 20%
customers says its Very Good, 18% customers says its excellent while 10% says its Poor.

Q6. By which source you come to know about Aviva Life Insurance?
T.V
NEWSPAPER
HOARDINGS
MOUTH OF TONGUE

58%
15%
10%
17%

58%
60%
50%
40%
30%
20%
10%
0%

15%
10%

17%

According to survey we find that 58% of customers are come to know by T.V, 20%
customers says by Newspaper, 10% customers says by Hoardings while 17% says by
Mouth of tongue.

SWOT ANALYSIS
SWOT ANALYSIS
Strength

1. Robust

and

Diverse

Product

portfolio

2. Has network across 3000 towns and 20,000 Financial Planning

Advisors
3.Focus

on

Schemes

with

social

importance

4.Good brand visibility through advertisement campaigns

5.Globally,

Aviva

has

over

46,000

employees

6. It is the sixth-largest insurance company in the world measured

by net premium income and has 53 million customers in 28
countries
Weakness

1. Controversial advertisement campaign caused a problem

2. Customer complaints for policy execution problems

Opportunity

1. Growing rural market

2.Earning Urban Youth
3. Increasing awareness amongst people about securing their
future

Threats

1. Economic crisis
2. Entry of new NBFCs in the sector
Competition

Competitors

1. Bajaj Allianz
2. Sahara Life Insurance
3. HDFC Standard Life

RECOMMENDATIONS AND SUGGESTIONS

Aviva Life Insurance should introduce variants with good return outputs at the same
level as other Competitors.
Bajaj Allianz, Sahara and HDFC standard Life should start penetrating well in the
areas such as infocity.
Advertising should be done at High level so that customers can attract towards our
policy.
Aviva Life Insurance should work on Brand building as image is the important
deciding factor for switching brand loyalty.
Aviva Life Insurance should work on volume promotion and introduce more variants
to capture more market share

LIMITATIONS OF STUDY

The time given was not sufficient as only one person had to conduct the survey.
The exact thinking of the respondents cannot be found out.
Surrogate error could be one of the limitations.
Findings are made with in the limited Information & views of the respondents. So a
chance of bias information is not totally eliminated.

CONCLUSION

As the project is to Analysis of Promotional Policies of Aviva Life Insurance and the main
objective to understand the Policies adopted by the company to promote our product. After
completing the project I know that how ability of management can perform work in difficult
situation. Because during the recession they faced very bad condition but as India condition will
improve they will also improve. As company is trying to reduce its expenses for earning good
profit.
Though we had a very nice experience but we had to face some problems even,
like we were not given any identity card by the company so sometime it became very difficult for
us to convince people that we are from the company and not an agent. Mostly small investors are
not satisfied with the charges of the AVIVA ULIP.
1. People dont rely upon private insurance sector.
2. All products are not attractive to the customers so that kind of products are very hard to
sale.
3. Less number of traditional plans thats why people who really need traditional plans are
still not satisfied.
4. Majority of the customers are satisfied with the beneficial schemes the company.
5. Majority of the customers are satisfied with the service of the company.

BIBLIOGRAPHY

Books:

PHILIP KOTLER, MARKETING MANAGEMENT, EDITION 2005.

V.S RAMASWAMY AND S. NAMAKUMARI MARKETING MANAGEMENT,

SECOND EDITION.

Magazines

Business India

India Today

Business Today

Newspapers

The Times of India

The Hindustan Times

The Economic Times

SWAMI VIVEKANANDA INSTITUTE OF TECHNOLOGY

SAGAR M.P
QUESTIONNAIRE
Name:-

Age:-

Occupation:-

Contact No:-

Q1. Are you aware about Aviva Life Insurance?

a. Yes

b. No

Q2. Have you owned any policy of Aviva Life Insurance?

a. Yes

b. No

Q3. Which type of policy do you owned?

a. Child plan

b. Health plan

c. Saving Plan

d. Retirement plan

e. Rural Plan
Q4. Are you satisfied with the returns and Settlements of policy after maturity?
a. Yes

b. No

Q5. Rate the product about your satisfaction?

a. Good

b. Very Good

c. Excellent

d. Poor

Q6. By which source you come to know about Aviva Life Insurance?
a. T.V

b. Newspaper

c. Hoardings

d. Mouth of Tongue