OUTLINE OF THE PROJECT Proposed Topic of the Project ANALYSIS OF FINANCIAL STATEMENT OF

BIRLA SUNLIFE INSURANCE

Objectives of the Project

To examine the psychographics of insurance customers. To probe the buying behaviour of insurance customers. To find people expectations or satisfaction regarding the insurance. To judge the awareness level of insurance Industry.

Company Details

Birla SunLife Insurance Company Ltd. is a joint venture between New York Life, a Fortune 100 company and Max India Limited, one of India's leading multi-business corporations. The company has positioned itself on the quality platform. In line with its vision to be the most admired life insurance company in India, it has developed a strong corporate governance model based on the core values of excellence, honesty, knowledge, caring, integrity and teamwork. The strategy is to establish itself as a trusted life insurance specialist through a quality approach to business. Birla SunLife Insurance is the first life insurance company in India to be awarded the IS0 9001:2000 certification. Birla SunLife Insurance was among the top 25 companies to work with in India, according to 2003 Business World magazine, "Great Workplaces In India", Birla SunLife Insurance was ranked at the 20th position. This survey is the local version of the "Great Places To Work" survey carried out every year in 22 countries. It is among top five most respected private life insurance companies in India according to a 2004 Business World survey.

Industry Details

The story of insurance is probably as old as the story of mankind. Tendency of a human being to secure themselves against loss and disaster has been from the starting of world. They sought to avert the evil consequences of fire and flood and loss of life and were willing to make some sort of sacrifice in order to achieve security. Though the concept of insurance is largely a development of the recent past, particularly after the industrial era past few centuries yet its beginnings date back almost 6000 years as per records.

RESEARCH METHODOLOGY Research Type Exploratory Descriptive Analytical Conclusive Source of Data Primary and Secondary Only Primary Only Secondary Method of Date Collection Interview Questionnaire Observation Sample Size 30 Tools of Data ANALYSIS Statistical Descriptive e.g. Mean Mode Median, Standard Deviations Analytical TENTATIVE FINDING OF THE PROJECT

To be successful in marketing of insurance products, the entire business scenario has to be taken into account. During the study to be found that majority of people are aware of life insurance sector. During the survey it was observed that major source of information for consumer are television and newspaper and least preference are given to magazines, agents and friends. Attractive schemes and brand image are the most important factor that influences the buying behavior of the consumers.