A

SUMMER TRAINING RESEARCH REPORT ON

A STUDY ON INSURANCE PRODUCTS OF BAJAJ
ALLIANZ AND TRADITIONAL VERSUS ULIPS
PRODUCTS

SUBMITTED BY: GUIDED BY:

SHOBHIT PARASHAR MR. KRISHNA KANT
BHARTIY
M.B.A 2ND YEAR
 INTRODUCTION

Significance to the industry:

With the help of my research insurance industry will come to know
about why customers are not satisfied with the dematerialized
insurance and prefer more normal insurance.

Significance to the employees:

Employees of the company will know about area where they have to
work on to satisfy more and more customers and also to attract them
towards insurance.

Significance to the researcher:

By conducting this research my knowledge is enhanced regarding
insurance industry and research work, exposure to the professional
environment and better understanding of an MBA program.
OBJECTIVE OF RESEARCH

To analyse the consumer responses about Bajaj

Allianz life Insurance policy.
To analyse about the products of Bajaj Allianz Life
Insurance.
To analyse about the objection of people for not
taking the insurance policy.
To analyse the need of life insurance for customer.
To analyse about the views regarding services and
competencies of Bajaj Allianz life insurance company.
To analyse the preference of consumers between
traditional and unit linked plans.
 RESEARCH
METHODOLOGY
Research Problem:-
To find out the solution of the market related problems.
To find out the new opportunity and threats that
prevailing in the market.
Research tools used:-
Questionnaire Method
Survey Method
Research types used in the research methodology:-
Exploratory Research
Descriptive Research
Sample size:
Sample of 100 peoples are taken into study and their
data was collected
 Sampling techniques:
To study the project, a simple random
sampling technique is used
Data collection:
Collection of data is done by secondary data
and through questionnaire i.e. primary data was collected
through questionnaire
Data analysis:
After data collection, Im able to analyse
customers views, ideas, and opinions related to the
investment.
Data interpretation: INTERPRETATION.docx
Interpretation of data is done by using
statistical tools like pie diagram and line graph, and using
quantitative techniques accurate information is obtained.
Questionnaire QUESTIONNAIRE.docx
 FINDINGS
Most of investors not fully aware about Life
insurance policies and their advantage.
It was found most of the investor prefer, less risk
taking saving scheme or fixed deposits.
Some of the people, who were related to rural area,
did not know about facility for investment of money
in Life Insurance Policy schemes.
The proportion of investor and non-investor 80% &
20%.
The investors were interested more in Policies of LIC
because it is a Government body.
Bajaj Allianz has strong brand image for its
customers.
 Maximum of customers are with their
policies and overall performance of the
company.
Most people are interested in traditional
products as compared to ulps products.
Most people does not have complete
information about ulip products and their
polices also.
People are most comfortable with quality
premiums.
Payments/charges are bearable for the
customers.
Customers are satisfied with problem
solving ability of Bajaj Allianz life insurance.
 SUGGESTIONS
Service cum awareness camps should be run by the company
in remote areas.
Distribution channel needs more strength.
Improvement in services through feedback from customer is
recommended.
Boucher in Hindi for customers who are unable to read English
because still considerable mass numbers of people dont know
third language English.
Strict action taken to agent who gives partial or incorrect
information about the policies and charges associated with it.
Customer should treat gently before and after policy holder.
Should concentrate on the media publicity for advertisement.
Motivate their agents to improve customer base and also pay
proper attention on their need and requirement.
Regular meeting of the senior with agents.
More awareness in needed for unit link insurance plans and
about its advantages.
 CONCLUSION
Private life insurance companies should adopt
effective promotional strategies to increase the
awareness level among the consumers.
Life insurance companies should ask for their
consumer feedback to know whether the
consumers are really satisfied or dissatisfied
with the service and product of the companies.
If they are dissatisfied, then the reasons for
dissatisfaction should be found out and should
be corrected in future.
Life insurance products which are suitable for
lower income group should also be released so
that the market share increases
 LIMITATION
Management of all the activities from one place
limited the research with in its self as appropriate
data, which was required, was not available.
The views of respondent are likely to change as
human nature is very dynamic.
The result figure may be biased since the
subject/investor may provide wrong information.
The survey may not give whole scenario of Indian
market some subject/investor were not co-operative
on their approach.
The customer was not that much attentive towards
answering the question.
The customer became bias at the time of answering.
THANK YOU