PREFACE

Management education required close co-operation between

businesses a business institution. Theory and practical are two
inseparable parts of any type of education and are essential for
management studies. Practice makes a man perfect. A student
gets theoretical knowledge from classroom and gets practical
knowledge from industrial training. When these two aspects of
theoretical knowledge and practical experience come together
then a student is fully equipped to secure best.

In conducting the project study in an industry, students get

exposed and have knowledge of real situation in the work field
and gain experience from them. The fundamental objective of the
summer training or summer internship is to provide an
opportunity to experience the practical aspect of management in
any organization. It provides a chance to get the feel of the
organization and its function.
 INTRODUCTION
The advances of technology, the multiplicity of activities and
growing interdependence makes larger and larger disaster
inevitable. Progress has put more people, more companies at risk
than even before. Traffic multiplicities on road, in the air and at
the sea. The disaster cause death or hardship too many more
people and properties. Defective goods can cause injury. Mistakes
to happen and accidents can kill employees and general public.

The essence of insurance lies in the elimination of uncertain risk

of loss for individuals through the combination of the large
number of similarities expose individuals who contribute to
common fund premium payment which is sufficient to make the
goods loss caused to any one individual. In all kind of insurance
the fundamental principle is that one man agrees to take the risk
of another man’s life, insurance business in consideration of
certain small payment which is called premiums. The simplest
and most general concept of insurance is a provision made by a
group of persons, each single in risk of same loss, the incidence of
which cannot be forecasted, that when such loss occurs at any of
these it shall be distributed over the whole group.

The concept of insurance has been deep rooted in India from a

way long back since 1956. This was the time when facility of life
insurance in India was only provided by government namely LIC
INDIA. Now as the world business is expanding across the
boundaries of the respective countries. India has also taken the
initiative to open the doors and invite the foreign companies to
come forward and invest in our country. The concept of
liberalization, privatization, globalization(LPG) have also opened
the doors for foreign companies to come forward and setup their
organization in our country as well, to provide the respective
service of risk coverage(insurance). The other Indian companies
are making up their ties up with foreign companies and are
providing this service in our country.

Thus we have seen in the last couple of years a large pool of

private as well as other financial institutions has come forward to
provide this particular service of insurance. Like for example BAJAJ
ALLIANZ LIFE INSURANCE Co. Ltd., ICICI PRUDENTIAL, and BIRLA
SUNLIFE INSURANCE etc. the share of private life insurance
players has also been increased marginally. Life insurance is
superior to other savings because of followings

PROTECTION:

Where saving through life insurance guarantees full protection

against risk of death of the saver. In life insurance, the full sum
assured is payable (with bonus where ever applicable) as in other
saving schemes, only the amount saved (with interest) is payable.

AID OF THRIFT:

Life insurance encourages ‘thrift’. Long term saving can be made

in a relatively “Painless” manner because of the “easy
installment” facilities built into the schemes(method of paying
premium monthly, quarterly, half-yearly or yearly).

LIQUIDITY:

Loans can be raised on the sold security of a policy which

acquires loan value. Besides, a life insurance policy is also
generally accepted as security for even a commercial loan.

TAX RELIEF:

Tax relief in income tax and wealth tax is available for amounts
paid by the way of premium for life insurance subject to income
tax rates in force. Assesses can avail themselves of provisions in
the tax relief. In such cases assured in effect pays a lower
premium for his insurable then he would have to pay otherwise.
MONEY WHEN YOU NEED IT:

A suitable insurance plan or a combination of different plan an be

taken out to meet specific need that are likely to arise in future,
such as children education, start a life insurance or marriage
provision or even periodical needs for cash over a stretch of time.

Apart from savings, the insurance field is fulfilling for the

employer’s point of view. Due to penetration of private players in
Indian insurance market potential persons get more options of
employment here. This may be source of unlimited income in
respect of

 COMMISSION

 BONUS

 INCENTIVES

 GROWTH
 EXECUTIVE SUMMARY
After completion of 2nd semester of B.B.A program, I joined BAJAJ
ALLANZ LIFE INSURANCE CO. Ltd. For my industrial training for
duration of 3 months where I was expected to report to Miss.
Sreya Chokroborty, who was my project guide from the company.

The title of our project was “customer care services of BAJAJ

ALLIANZ LIFE INSURANCE CO. Ltd.”. The objective of the project
was to survey the customer’s needs and preferences in terms of
different services provided by the company as well as by other
companies and also gather down the data which is collected from
different existing as well as prospective customer for comparison
between them.

Lastly, the working environment of the company was very healthy

and provided me an opportunity to learn and perform well.

Ad
itya Jhawar
 BIBLOGRAPHY
Websites of various insurance companies which helps in my
project.

www.iciciprvlife.com

www.tataaig.com

www.sbilife.com

www.maxnewyorklife.com

www.bajajallainlife.com

www.omkotak.com

www.hdfcinsurance.com

www.irdaonline.org

www.google.com

 Theory and practice of insurance

M.Arif Khan

 Marketing management
 Philip Kotler

 Research Methology

C.R Kothari

INTRODUCTION TO INSURANCE

“The quick pace of industrialization of the modern age has

rendered man and his property most venerable to the type of risk
and uncertainties of life”. Thus, while uncertainties of death,
unemployment, sickness are constantly staring at the face of
man, his property exposed to the risk arising from fire, water,
accident, windstorm, sea perils, earthquake, floods , dishonesty,
negligence etc. resulting from acts of goods. The annual losses to
individuals from untimely death and to businessman from the
risks are too great to be calculated and indicate the importance of
meeting them in a planned manner. Local newspaper reveals
stories everyday about financial losses. A father, twenty-five
years ago dies, leaving behind a wife and three kids. Two thieves
steal some priceless antiques from a museum or temple. A bank
is robbed of lakhs of rupees in a broad-day light.

Who bears the financial burden of those losses? Who should now
support the widow and her children? Who is to replace the
historical statue from the museum? Who will compensate the
departmental shop or a bank for the theft and robbery? In the
absence of any remedy or cooperative efforts concerned. But with
growth of the industrialization, society and consequently a rapid
increase in the number of situations in which the human life and
property of these losses has been devised by shifting these risks
to agencies or persons willing or qualified to share them.

HISTORY OF INSURANCE:

Insurance as we know it today owes its existence to 17th century

in ENGLAND where it began taking shape in the LIOYD’S coffee
house where merchants, ship owners and underwriters met to
discuss and transact business. The 1st stock company to get into
the business was started in ENGLAND in 1720. The year 1735 saw
birth of 1st insurance company in American colonies in India.
Insurance can be traced back to Vedas. The rig Vedas suggests
the existence of some form of community insurance prevalent
among the Aryans in around 1000 B.C. Bombay mutual assurance
society; the 1st Indian life insurance company was formed in 1870.
Other companies like ORIENTAL, BHARAT and EMPIRE if India
where also set between 1870 and 1890.

As companies grew, the government began to exercise control on

them. The insurance act was passed in 1912 followed by the
detailed and a mounded insurance act of 1938 and that looked
onto investment, expenditure and management of fund of these
companies for years. Insurance remained as monopoly of the
public sector. It was only the year 2000 that the insurance
industry was again opened to the private players as based on the
recommendation of the R.N Malhotra committee in 1994 followed
by the set up to the insurance regulatory and development
authority under the leadership of Mr.N.Ramgachari.

INTRODUCTION OF BAJAJ ALLIANZ:

Bajaj Allianz Life insurance co. ltd is a joint venture between two
leading conglomerates Allianz AG and Bajaj Auto Limited.
Bajaj Allianz is poised for a growth in the market and has already
become the fastest growing private life insurance co. in India.
Bajaj Allianz has a pan-India presence. Bajaj Allianz has also
forged strong bank assurance and corporate agency relationship
and continues to build on new ties-up for fast growing and deep
market penetration.

Bajaj Allianz has launched a slew need based product to cater to

each varied needs of the customer. Currently Bajaj Allianz has a
product portfolio of 29 products and more need-based products
are in pipeline.

We, at Bajaj Allianz, realize that you seek an insurer who you can
trust your has earned money with, Allianz AG with over 110 years
of experience in over 70 countries and Bajaj Auto, trusted for over
55 years in the Indian market, together are committed to offering
you financial solutions that provide all the security you need for
your family and yourself.

ACCELARTED GROWTH:

Fiscal year No. of policies New Business(Rs. In

cr.)

2001-02 6mnths 21,376 7

2002-03 1,15,965 69

2003-04 1,86,443 180

2004-05 2,88,189 857

2005-06 7,81,685 2717

2006-07 20,79,217 4270

 • As per IRDA results for financial year 2006-2007.

COMPANY’S VISION:

Bajaj Allianz visions to make Bajaj Allianz Life Insurance Co. Ltd
the dominant life and pension’s player world class people and
services. The Bajaj Allianz hopes to achieve by:

• Understanding the needs the needs of the customer and

offering them superior products and services;

• Leveraging technology to provide quick service to

customers, efficiently and conveniently;

• Developing and implementing superior risk management

and investment strategies to offer sustainable and stable
returns to our policy holders;

• Providing and enabling environment to foster growth and

learning for our employees;
 • And above all, building transparency in all our dealings.

MISSION:

We at Bajaj Allianz have a very simple purpose behind all that we

do customer satisfaction. If we can offer you values for your
money, if we can fulfill your needs with innovative Life Insurance
products and can delight you with superlative service, we believe
we are successful.

VISION:

The most successful and admired Life Insurance company, which

means that we are the most trusted company, the easiest to deal
with. Offers the best value for money and set standards in the
industry. In short “The most obvious choice for all”.

VALUES:

Underlying every product we offer, every service we render is an

ethos of security, trust and innovation.

SECURITY:

We would like to keep you financially secure in the long run or

term.

TRUST:
Your confidence in us is our most valuable asset. We will live up to
it managing your funds carefully and wisely.

INNOVATION:

Your need are special and unique. So, we offer you innovative
products to fulfill them.

Values that will be observed while people work with Bajaj Allianz
Life Insurance co. Ltd.:-

Integrity

What is it?

• Honest and truthful in every action.

• Transparency

• Stick to principles irrespective of outcome.

• Be fair to everyone.

Why?

• Integrity is the bedrock on which the company and the

expectations of the customers and employees are built.

• Integrity establishes the creditability of the person, defines

the character and employees on to do justice to the job.

• Enables building confidence and trust, achieving

transparency and laying a strong foundation for binding
relationships.

• Building principles for all walks of life.

Innovation

What is it?

• Building a store house of treasure through experience.

• Looking at every product and process through fresh eyes

everyday.

Why?

• To exceed customers expectations and maximize customer

retention.

• To achieve competitive advantage.

• To promote growth and upgrade standards in the industry.

• To foster creativity among employees and partners.

• To open a world of new possibilities.

People care:

What is it?

• Genuinely understanding the people we work with.

• Guiding their development through training and support.

• Help them develop requisite skills to reach their true

potentials.

• Know them on their personal front. Create and environment

of trust and openness.

• Respect for the time of others.

Why?
 • People are the most valuable assets of the company.

• Motivate and individual relationship with them to create a

joyful working environment.

• Job satisfaction.

Team work:

What is it?

• Whole team takes the ownership of deliverables.

• Consult all involved, understand and arrive at a common

objective.

• Cooperate and support across department boundaries.

Why?

• Together everyone achieve more TEAM.

• It adds joy at work place.

• It generates synergy and provides a focused approach.

• An idea or activity performed in a group has greater

acceptability.

• “one for all and all for one”.

Hierarchy of sales division of Bajaj Allianz Life Insurance co.
Ltd.

Chief executive officer

Zonal manager

Regional sales manager

Area manager/divisional manager

Branch manager

Sales manager

Insurance consultants(IC’s)
Major insurance companies at a glance:

LIC:

While the public sector LIC dominates the Indian Life

Insurance market with nearly 80% of the market share. It
has more than 1000 branches, more than 1, 15,000
employees and over one million agents. It has also been
improving internal process and system, upgrading skills of its
agency force and managers and developing innovative
products. LIC sold over 1.69 crore policies during the year
compared to 18 lakhs policies sold by private players.

ICICI Prudential:

ICICI Prudential is the leader among the private players

with a market share of 7.11% after its premium collections of
total Rs 1,154 billion. With its combination of aggressive
marketing through an agency force and the use of banking
channel, ICICI has merged a the key player. Initially, the
company drove new business by opening branches in new
locations for increasing market share. The company has 7
bank assurance partners and 800 financial sales consultants
as of 2004. It took the initiative in launching non-traditional
products such as life-stage products, retirement solutions
and children’s plans. It also focused on unit linked
plans(ULIP) to target the new consumer segment. It sold
64764 policies during the year 2003-04.
Birla Sunlife:

It’s a joint venture between Aditya Birla Group & Sunlife

Assurance Company with paid up capital of Rs 290crores,
the company started its business as on 1st march 2003. The
company distributes set up comprises insurance advisors for
life and experts marketing team for group products.

Aditya Birla Group is India’s 2nd largest business house, with

a turn over $4.75 billion. The Aditya Birla Group diversified
conglomerate with 72000 strong workforce spanning 40
companies across 1countries, Sunlife Assurance Company of
Canada , established in 1871is licensed in Canada, USA ,
Philippines, Hongkong and in UK. The company also through
alternative channels like bank Assurance.

HDFC Standard Life Insurance Company LTD.:

In 1995 two companies – HDFC Limited and Standard Life

Assurance company- entered into joint venture relationship.
Values were shared. Beliefs merged. The relationship was
based on a platform of trust, commitment and excellence.
Through the hurdle race of time the two partners stood by
each other and emerged at the forefront on 23rd 2000. HDFC
Standard Life Insurance Company Limited was the first life
insurance company to be granted the certificate of
Registration by the IRDA. Now HDFC Standard Life aims to
mirror the success of its parent companies. It seeks to serve
as the hallmark of excellence, the yardstick by which all
others like life insurance companies will be measured.

KOTAK Mahindra Old Mutual Life Insurance LTD.:

 KOTAK Mahindra Old Mutual Life Insurance LTD is a joint
venture between KOTAK Mahindra Bank Ltd. And old Mutual
Plc. KOTAK Mahindra Insurance, the company aims to help
customers take important financial decision at every stage in
life by offering them a wide range of innovative Life
insurance products, to make them financially independent.
KOTAK Mahindra Old Mutual Life Insurance LTD was
established in 2000 as a joint venture between KOTAK
Mahindra Bank Ltd.(74%) and Old Mutual Plc, South Africa
(26%). The KOTAK Mahindra Bank Ltd. Was the first private
company to receive a retail bank license in 2003. In the Life
Insurance market, KOTAK Insurance is one of the fastest
growing companies in India. In the financial year 2004-05 it
demonstrated a premium income growth of 198%. KOTAK
Life Insurance, with 44 branches in over 30 locations and an
employee force over 1500 employees is a company with a
high level brand awareness KOTAK Life Insurance aspires to
spiraling growth with a strong focus on customers, products,
geography distribution channel mapping and fund
performance.

Company Indian Promoters Foreign Insurer

AVIVA LIFE DABUR AVIVA,UK
BAJAJ ALLIANZ BAJAJ AUTO ALLIANZ AG,
GERMANY
BIRLA SUNLIFE ADITYA BIRLA GROUP SUNLIFE , CANADA
AMP SANMAR RELIANCE GROUP NONE
HDFC STANDARD HDFC STANDARD LIFE,UK
ICICI PRUDENTIAL ICICI BANK PRUDENTIAL,UK
ING VYASA VYASA BANK ING
INSURNACE,NETHER
LAND
KMOM KOTAK BANK OLD MUTUAL,
SOUTH AFRICA
 MAX NEWYORK MAX INDIA NEWYORK LIFE,US
MET LIFE JAMMU & KASHMIR MET LIFE, US
BANK
RELIANCE LIFE RELINACE GROUP NONE
SAHARA LIFE SAHARA INDIA NONE
SBI LIFE SBI CARDIFF, FRANCE
TATA AIG TATA GROUP AIG, US
FUTURE GENERAL FUTURE GROUP GENERAL GROUP,
1 ITALY
STAR UNION DAI- BANK OF INDIA & DAI-CHI MUTUAL
CHI LIFE UNION BANK OF LIFE, JAPAN
INDIA

Different products provided by BAJAJ ALLIANZ Life

Insurance Co. Ltd.:

BAJAJ ALLIANZ provides a wide range of products for its consumer.

This company bears the punch line “ JAISE JARUWAT WAISE
INSURANCE”- it means products as per customers need. BAJAJ
ALLIANZ Life has designed several innovative products some of
them are as follows:

Traditional plan:

This are the plans which ensures certain return after completion
of the term. Traditional plans are not related to market risks. In
such kinds of plans premiums are calculated as per policy holder’s
age, sum assured and taken and term.

Unit linked insurance plan (ULIP):

These are the plans which are market related. It means that these
kinds of plans does not give certain returns instead of the return
of this plans are marketed related. If the market goes up the
return will be high and vice versa .investment in these plans are
subject to market risks.

Traditional investment plans:

This plans does not give opportunity to the customers to enjoy

the insurance advantage and a low return investment as well.
Customers can opt for this investment plan to have guaranteed
return after a stipulated time.

EX: invest gain, cash gain, super saver, mahila gain, etc

Traditional children plan:

Traditional children plan give freedom to the parents of future

liabilities of their children. It ensures child’s future with a certain
return. EX: child gain.

Traditional term care policies:

This policies provide only the insurance coverage to the customer,
no investment related profit. Consumers can opt this policy with a
very lower premium.

EX: risk care, term care.

Traditional pension plan:

Pension plans are very much necessary for every individual.

Because it provides stability to the policy holder in his old age.
Traditional pension plan give the financial freedom to the
consumer with the guaranteed return.

Unit linked pension plan for investment:

BAJAJ Life has designed so many ULIP Investment plans for the
consumer. These plans provide both insurance and investment
advantages. Statistics says market related or ULIP plans give
more return then traditional plans. However, investments in this
plan always bear market risks which are not there in traditional
plans. Some of the plans provide consumer both the sum assured
and fund value to the nominee.

EX: family gain, new unit gain, unit gain plus gold, century plus-II,
unit gain protection plus, fortune plus, new unit gain plus sp.

ULIP pension plan:

This plan is specially designed for the people those who can take
risks for higher pension payouts.

EX: future secure, ULIP pension.

Mediclaim policies:

These plans are a little bit different from the investment plans.
Mediclaim provides freedom from medical expenses to the
consumer. It reimburses medical expenses made by the
consumer. In BAJAJ Life mediclaim policies is available one for
individual and other for whole family.

EX: care first, family care first.

Different services provided by the BAJAJ ALLIANZ Life:

BAJAJ ALLANZ Life has formed various structure to provide

services to its consumers. Some of them are as follows:

1. Insurance consultants(IC): IC’s are the main pillars of the

company. Because they provide different direct services to
the customers. After taking a policy if a customer wants to
know something they can contact IC’s directly to fulfill their
queries. They work as financial advisors for the customers.
Moreover they are liable to their customers to give service
and this kind of liability generates stronger relationship
between consumer and the company.

2. Large chain of branches: BAJAJ ALLIANZ has more than 900

branches all over India. Through these branches company
provides numerous services to the customers. These
branches provide customer flexibility to satisfy his
requirement anywhere in the country.

3. Traditional services: company always uses traditional

mailing system to provide any information to the customer.

4. Telephonic service: company has several toll free numbers

through which consumers can contact customer care
executives to have different information regarding their
 queries. On the other side company personnel also connect
themselves with the customer through this for better
services.

5. Sms: short messaging service through different information

can be gathered down by the customer. The consumer also
be informed by the company personnel information related
to their policies.

6. Internet: today’s world is really fast growing. People do not

have time to go to office to have new policies or to submit
renewals. For such kind of people company has started this
service to solve their problems. Through this service
consumer can take new polices, get policy details, and even
submit renewals.

7. Exclusive renewal verticals: this department is specially

formed to collect renewals premiums of the customers. This
department sends renewal letters, calls customer for
pending renewals.

Services Company is on the way to arrange financial submits

and training for new IC’s and as well as for the customers so
that people can become more aware of their investments.
Also, company is focused towards development of several
services medium. Because, insurance sector more involves
service rather than finance.
 SWOT ANLYSIS OF BAJAJ ALLIANR LIFE
INSURANCE CO.LTD

STRENGTHS

1. Meant for the masses

2. Wide rang of services
3. Wide network
4. Less charge than many of the private see for companies
5. Committed work free
6. Strong customer base
7. Availability of top R & D personal

WEAKNESS

1. Lack of advertisement of its schemes

2. Less number of marketing managers and trainer
3. Weak customer care call
OPPERTUNITIES

1. Growing population and expanding market

2. Increase in disposable income
3. The company can still expand its range of services by
providing more services to its customer

THREATS

1. The basis and the foremost threat are from the competition
both from the public and the private
See for. Which are offering a wide rang of services

2. Fiscal policies resulting into increased taxes, duties, import

etc.
3. Recession
4. Political instability
OBJECTIVES: -

1. To find out which medium of communication prefer

most to have
information related to consumer’s investment and
existing policy.Because, in this present world people
have ample of activities Perform. Therefore people always
want to go for easily available

And time saving medium to satisfy their crucial

investment queries

Thus the various modes are to be rated with in a point

seal of 1 to 5

Where 1 for lowest and 5 for the highest as per

customers preference

And convenience.

2. How frequently people discuss with experts before

investing money.
 This is really an important avenue where company can
pay its attention

And provide consultamey services to the people for

best buying. It will

Creat a great impact in people’s mind.

3. To find out the influencing factors of customer is very

much needed.
Because, it is directly linked with the company’s
personal growth.

Customers specially in rural areas are confused, they

don’t know the

Influential factors, variour to 5 where 1 for the lowest

and 5 for the

Highest.

4. How much customers are satisfied with the

insurance consultant ?

this is a very much vital thing. Because, here in

India “belief factor”

works more than anything else. So how people or

customers are

taking insurance advisor that is indispensable. That

different level
 of satisfaction have been kept to get the clear
picture about the

services, provided by the insurance consultants.

5. How much companies are careful in terms of after

sell services ?

for sustainable development and growth, after sell

services plays

a vital role. Once customer will get good services

from any company

he will spread the message among his natives and

relatives that will

be beneficial for the company. So keeping in mind

about the after sell

service the company has to think more prominently

for its future

prospect. Thus different services are to be rated

with in a point scale

of 1 to 5 where 1 for the lowest and 5 for the

highest.
6. To find out company, consumers are getting
different services from

Bajaj allianz life. This will help company to

concentrate particularly

On those service which is not common to the

customer. It will increase

Companies customer care service more prompt.

7. Company will understand what kind of products

consumer wants most.

This will help the company to understand the

customers expectations.

Thus different products are to be rated in a point

seal of 1 to 7 where

1 for lowest and 7 for highest.

METHOOLOGY:

After objective has been laid down,

systematic and

Organized steps where followed to

achieve our objective

The steps that are performed are as

follows.
RESEARCH INSTRUMENTS:

QUESTIONNAIRE:

As the whole study is mainly based on primary data,

the research instrument used to collect primary data
has been the questionnaire.

The questionnaire has been designed in a logical

manner in such a

Way that the objectives that is be achieved is being

met. The company’s

Guide (Mr.Apurba Dubey) has helped me to design the

questionnaire.

Adequate are has been questionnaire. Double barrel

question have been

Avoided to prevent any confusion while analyzing the

data. The question

Are designed in a manner that answers all the above

question.

GENERATING DATABASE:

For conducting the research, a data base has to be

generated and for this
Sample plays an important part. A sample is a subject
of a unit of population, Collected as a representative of
it. The sample has been

Collected in such a way that it represents the

population. The targeted

Audience and their reference have been studied quite

closely. In any

Research, the size of the sample plays an important

clement in the research process as the size of the
sample has direct effect on the result

Of the research. Thus a sample of size 100 sample has

been selected

Keeping in of the cost the and accuracy factors in mind.

TELEPHONIC INTERVIEW:

Again data abo been collected with the help of

telephone as the cost involve in collecting data is low
compared to personal interview. People

Can be easily reached on the telephonic interview and

reluctance level of

Respondent is low.
 PERSONAL INTERVIEW;

This is the technique, which is widely used in collecting

of data. This is the most costly techniques, as are one
has to actually go to person to fill the questionnaire.
This is also a time consuming method of collecting
data.

CONCLUSION

There is a lot of effort which needs to be put into the

customer care services from Bajaj Allianz life to
challenge leadership of LICI, ICICI prudential, HDFC
standard life, birla sunlife etc. Bajaj Allianz life can look
to provide better customer care services are.

1. The company has to educate consultants, low to

provide bitter services. It needs more prompt trainer to
educate the newly recruited consultants. At least 6
session in a month, the company should arrange
training session to Greer up consultants.
2. During recruitment of direct consultants, care should
be taken during is reduced and there is an increase in
the active consultants.
3. Several financial camps should be organized by the
company to provide financial advice to the consumes.
This camp also helps customer to get scope to do his
 financial management. This will aware the consumer
more to buy appropriate product.
4. To create awareness level specially in rural area, the
company has to design many products for rural people.
Because country like India, insurance penetration level
is very poor and it can not be increased unless the
involvement of rural people. Therefore company should
create micro insurance policies.

Finally, while rounding up the project I world like to

thank the organization for giving me this wonderful
opportunity to explore the insurance industry, one of
the fastest growing industry. During my association in
the organization the company has been an eye my
opener for me to look forward. This experience has
given me more scope to know more about customer
care services provided by the life insurance companies.

RECOMANDATION:

Based on the above analysis that has been done on the basis of
data collected. The following recommendation are being
suggested to Bajaj Allianz life.

Only the customer care services executive, thong phone cannot

satisfy a customer fully. At requires physical presence of
customer care executive in every branch. The consultants, sales
managers, branch managers and other managers should provide
best advices to the customer requires unbiased recommendation
for their hard earned money. This kind of sensitive steps only can
make Bajaj Alliaur life more reliable with in the mass no matter
LICI, ICICI prudential, HDFC standard, birla sunlife are there in the
market. Side Bajaj Allianr life should come up with some
strategies enforcing it in the befferment of its consultants who will
be helping to enhance the business of the company.

APPENDIX

This is an endeavor to under stand your life insurance needs

which will help to serve you in a better way. The data collected
from and will be kept confidential.

PERSONAL PROFILE

1. NAME:

2. D.O.B:

3. ADDRESS:

4. CONTACT NO:

5. EDUCATION:Non matriculation -------, matriculation,

undergraduate--------,graduate ________, post
graduate_______,
 6. occupation: salaried ______, self employed_______,
professional_______, student_______, house wife
_______business______retired________.

7. martial status : married ______, single______, widow_______,

divorced ______.

8. family details

Relationship age

9. Income slab: less than 1.5 leas--------------, 1.5 leas to 2.5

leas------------,
2.5 leas to 5 leas---------, above5 leas-----------.

10. Have you heard about life insurance ? yes-----, no-------

11. Which companies in India offer life Insurance ?

1. ------------------- 6.
-------------------------------

2. --------------------- 7. -----------------------------

3. --------------------- 8. -----------------------------

4. ----------------------- 9. -----------------------------
 5. ----------------------- 10.
-----------------------------

12. Have you heard of Bajaj Allianr life insurance co. ltd.?

Yes ------------, no ------------

13. What are the services offered by Bajaj Allianz life ?

1. ------------------------

2. -------------------------

3. --------------------------

14. which medium you use frequently to have information

related to your investments or policies ?
please give your score from 1 to 5 (where 1 for lowest and 5
for highest).
S.L MODES/MEDIUN
SCORE

A Mobile alert

B Internet
 15. Do you any expert financial advisor or consultants to
maintain your investment portfolio ?

Yes -------------, no -------------.

16. What/who influences you to purchase a life insurance policy

? please give your points 1 to 5 (where 1 for lowest and 5 for
highest)

S.L MODES/MEDIUM
SCORE

A Advertisement

B Insurance agents
 17. How is your agent in terms of providing services to you ?

a) Excellent-------,b) by good --------, c) average --------, d)

very poor --------.

18. What are the services do you require most offer

purchasing a life policy (after
Sales service)?
S.L OPTIONS
SCORE

A Renewal reminder and collection

B Quarterly fund up diatom report

 19. Which of the following proudest do you prefer most ?
please give score from 1 to 7 (where 1 for lowest and 7 for
the highest)

TRADITIONAL

FACTORS LIFE INSURANCE ULIPS

A Risk cover

B Investment

C Playing for children

 Thanks for your precious time and effort. Your opinion will help
us a lot in conducting

Our survey successfully and also help me in fulfilling your

desire in the future to come

-----------------------------------
-

Signature

LIMITAIONS

Thongle a sincere effort has been made to complete the project

but there are certain limitations present in this project.

The sample size was relatively small due to time constraint.

The respondent who we were supposed to interview world

Not give us time as their work was disturbed and we had to

Approach them more than once which was a time consuming.

The findings of the survey were totally dependent on the

Response of the people of the west Bengal that may not be

Correct in every cases.

Some people think that investments are too risky and just another
name of gamble but they don’t know its not at all risk for long
investors.

People don’t want to give their financial status indeed.