A

SUMMER TRANNING PROJECT REPORT

STUDY ON
A STUDY OF STRATEGY AND FUNCTIONING OF FIELD
FORCE
AT
Submitted in partial fulfilment f t!e re"uirement
fr t!e a#ard f de$ree

Of
%ASTER OF &USINESS AD%INISTRATION
SESSION '()*(+()*,-
SUBMITTED TO:- SUBMITTED
BY:-
Mr. Somnath Paul Rahul Saxena
Assistant proessior MBA IIIr!
SEM
Roll "o-
#$%$#$$&
A'("O)*ED+EME"T
No man is indispensable but there are certain
mortal without whom the quality work sufers their
guidance becomes important in acquiring quality
results.
I express my sincere gratitude to Dr.Man,ula ,ain
for providing me an opportunity to undero summer
tranning at a!a! "llian#.
I am grateful to my faculty guide Mr somnath
Paul who has given me this opportunity to prepare
this pro!ect and provided her valuable guidance.
I am grateful my Mr. Upen!ra Sin-h who has
given more guidance about $I%.
I am also grateful to my parents and friends who
inspired me to put my best eforts.
Ra!ul .a/ena

TA&LE OF CONTENTS
Sr0N
CONTENTS 1AGE
1.
AC2NO3LEDGE%ENT
2. INTRODUCTION

3. SECTOR 1ROFILE

4. CO%1ANY 1ROFILE
5. O&4ECTI5ES OF
STUDY

60
RESEARC7
%ET7ODOLOGY


80
DATA ANALYSIS 9
INTER1RETATION

:0
O&SER5ATIONS 9
FINDING

;0
1RO&LE%S IN T7E
E<ECUTI5E
TRAINING
10. LEARNING THE
EXECUTIVE TRAINING
**0
SUGGESTIONS
12.
COMPANY PLANS
INTRODUCTION
INTRODUCTION
A marketing strategy is a process that can allow an organization to
concentrate its (always limited) resources on the greatest opportunities to
increase sales and achieve a sustainable competitive advantage.
Marketing strategy as a key part of the general corporate strategy marketing
strategy is most effective when it is an integral component of corporate
strategy, defining how the organization will engage customers, prospects
and competitors in the market arena for success. It is partially derived
from broader corporate strategies, corporate missions, and corporate
goals. hey should flow from the firm!s mission statement. A range of
micro environmental factors also influences them.
Marketing strategy and sectarian tactics and actions
A marketing strategy also serves as the foundation of a marketing plan. A
marketing plan contains a set of specific actions re"uired to successfully
implement a marketing strategy. #or e$ample% &'se a low cost product to
attract consumers. (nce our organization, via our low cost product, has
established a relationship with consumers, our organization will sell
additional, higher)margin products and services that enhance the consumer!s
interaction with the low)cost product or service.&
A strategy consists of well thought out series of tactics. *hile it is possible
to write a tactical marketing plan without a sound, well)considered strategy,
it is not recommended. *ithout a sound marketing strategy, a marketing plan
has no foundation. Marketing strategies serve as the fundamental
underpinning of marketing plans designed to fill market needs and reach
marketing ob+ectives ,-.. It is important that these ob+ectives have
measurable results.
A good marketing strategy should integrate an organization!s marketing
goals, policies, and action se"uences (tactics) into a cohesive whole. Many
companies cascade a strategy throughout an organization, by creating
strategy tactics that then become strategy goals for the ne$t level or group.
/ach group is e$pected to take that strategy goal and develop a set of tactics
to achieve that goal. his is why it is important to make each strategy goal
measurable.
Marketing strategies are dynamic and interactive. hey are partially planned
and partially unplanned. 0ee strategy dynamics.
Types ! "#$%e&'() s&$#&e)'es
/very marketing strategy is uni"ue, but if we abstract from the
individualizing details, each can be reduced into a generic marketing
strategy. here are a number of ways of categorizing these generic strategies.
A brief description of the most common categorizing schemes is presented
below%
0trategies based on market dominance ) In this scheme, firms are classified
based on their market share or dominance of an industry. ypically there are
three types of market dominance strategies%
1eader
2hallenger
#ollower
3orter generic strategies ) strategy on the dimensions of strategic scope and
strategic strength. 0trategic scope refers to the market penetration while
strategic strength refers to the firm4s sustainable competitive advantage.
2ost leadership
3roduct differentiation
Market segmentation
Innovation strategies ) his deals with the firm!s rate of the new product
development and business model innovation. It asks whether the company is
on the cutting edge of technology and business innovation. here are three
types%
3ioneers
2lose followers
1ate followers
5rowth strategies ) In this scheme we ask the "uestion, 67ow should the
firm grow89 here are a number of different ways of answering that
"uestion, but the most common gives four answers%
7orizontal integration
:ertical integration
;iversification
Intensification
A more detailed scheme uses the categories%
3rospector
Analyzer
;efender
<eactor
INSURANCE NEED
*hy is insurance necessary8 he "uestion contains the answer within itself.
After all, life is fraught with tensions and apprehensions regarding the future
and what it holds for the individual. ;espite all the planning and preparation
one might make, no one can accurately guarantee or predict how or when
death might result and the circumstances that might ensue in its aftermath.
*e are not saying that life and e$istence are constantly fraught with danger
and uncertainty. =ut then it is essential that you plan for the future. he
chances for a fatality or an in+ury to occur to the average individual may not
be particularly high but then no one can really afford to completely disregard
his or her future and what it holds.
3eople generally regard insurance as a scheme when and where you have to
lose a lot to gain a little. >evertheless, insurance is still the most reliable tool
an individual can use to plan for his future.
And +ust why is it necessary to plan for the future with Insurance8
A( O*e$*'e+
Insurance business is divided into four classes%
?) 1ife Insurance business
@) #ire
-) Marine
A) Miscellaneous Insurance.
1ife Insurers transact life insurance businessB the rest is transacted by
5eneral Insurers. >o composites are permitted as per law.
he business of Insurance essentially means defraying risks attached to any
activity over time (including life) and sharing the risks between various
entities, both persons and organizations. Insurance companies (I2s) are
important players in financial markets as they collect and invest large
amounts of premium. Insurance products are multi purpose and offer the
following benefits%
?. 3<(/2I(> ( 7/ I>:/0(<0
@. A22'M'1A/ 0A:I>50
-. 27A>>/1I0/ 0A:I>50 I>( 0/2(<0 >//;I>5 7'5/ 1(>5 /<M
I>:/0M/>0.
I20 </2/I:/, *I7(' M'27 ;/#A'1, A 0/A;C 2A07 0</AM (#
3</MI'M (< 2(><I='I(>0 ( 3/>0I(> 31A>0. :A<I('0
A2'A<C 0';I/0 A>; M(;/10 />A=1/ 7/M ( 3</;I2,
</1AI:/1C A22'<A/1C, 7/C4</ /D3/2/; 2A07 ('#1(*0.
1IA=I1II/0 (# I20 =/I>5 1(>5)/<M (< 2(>I>5/> I> >A'</,
1IE'I;IC I0 /D2/11/> A>; 7/I< I>:/0M/>0 A</ A10(
1(>5)/<M I> >A'</. 0I>2/ 7/C (##/< M(</ 7A> 7/
</'<> (> 0A:I>50 I> 7/ 07A3/ (# 1I#/)2(:/< ( 7/
I>:/0(<0, 7/ <A/ (# </'<> 5'A<A>//; I> 7/I<
I>0'<A>2/ 3(1I2I/0 I0 </1AI:/1C 1(*. 2(>0/E'/>1C, 7/
>//; ( 0//F 7I57 <A/0 (# </'<>0 (> 7/I< I>:/0M/>0 I0
A10( 1(*. 7/ <I0F)</'<> <A;/ (## I0 7/A:I1C I1/; I>
#A:(< (# <I0F. A0 A 2(M=I>/; </0'1 (# A11 7I0, I>:/0M/>0
(# I>0'<A>2/ 2(M3A>I/0 7A:/ =//> 1A<5/1C I> =(>;0
#1(A/; =C 5(I, 30'0, 0A/ 5(:/<>M/>0, 1(2A1 =(;I/0,
2(<3(<A/ =(;I/0 A>; M(<5A5/0 (# 1(>5 /<M >A'</. 7/
1A0 31A2/ *7/</ I>0'<A>2/ 2(M3A>I/0 A</ /D3/2/; ( =/
(:/<)A2I:/ I0 =('<0/0. 1A/1C I20 7A:/ :/>'</; I>(
3/>0I(> 027/M/0 A>; M''A1 #'>;0 A10(. 7(*/:/<, 1I#/
I>0'<A>2/ 2(>0I'/0 7/ MAG(< 07A</ (# I>0'<A>2/
='0I>/00. 1I#/ I>0'<A>2/ ;/3/>;0 '3(> 7/ 1A*0 (#
M(<A1IC A>; 7/</ 1I/0 7/ ;I##/</>2/ =/*//> 1I#/ A>;
5/>/<A1 I>0'<A>2/ ='0I>/00/0. 1I#/ 7A0 ( /DI>5'I07
0((>/< (< 1A/< A>; 7/ 21AIM I> </03/2 (# 1I#/ I0 2/<AI>.
I> 2A0/ (# 5/>/<A1 I>0'<A>2/, 7(*/:/<, 7/</ MAC >/:/< =/
A 21AIM A>; 7/ AM('> 2A> >/:/< =/ A02/<AI>/; I>
A;:A>2/. 7/>2/, 1I#/ I>0'<A>2/ I>21';/0, =/0I;/0 2(:/<I>5
7/ <I0F (# /A<1C 7A33/>I>5 (# A> /:/>, A> /1/M/> (#
0A:I>50 A10( #(< 7/ =/>/#I2IA<I/0. 3/>0I(> ='0I>/00 A10(
;/<I:/0 #<(M 1I#/ I>0'<A>2/ I> A0 M'27 A0 7/ 3/>0I(>
('5( A5AI> ;/3/>;0 '3(> 7/ 1A*0 (# M(<A1IC. 7/
#(<AC0 MA;/ =C I>0'<A>2/ 2(M3A>I/0 I> 7I0 A</A A</,
7/</#(</, >A'<A1 2(<(11A<C (# 7/I< ='0I>/00.
SECTOR PRO,ILE
PRODUCT-S
SUMMRY
O,
.A/A/ ALLIAN0
LI,E INSURANCE
CO. LTD
INSURANCE IN INDIA
1
Insurance in India started without any regulations in the nineteenth century.
It was a typical story of a colonial era% a few =ritish insurance companies
dominating the market serving mostly large urban centers. After the
independence, the 1ife Insurance 2ompany was nationalized in ?HIJ, and
then the general insurance business was nationalized in ?HK@. (nly in ?HHH
private insurance companies were allowed back into the business of
insurance with a ma$imum of @J per cent of foreign holding (*orld =ank
/conomic <eview @LLL). he entry of the 0tate =ank of India with its
proposal of bank assurance brings a new dynamics in the game. (n Guly ?A,
@LLL Insurance <egulatory and ;evelopment Authority bill was passed to
protect the interest of the policyholders from private and foreign players.
he following companies are entitled to do insurance business in India.
he private insurance +oint ventures have collected the premium of
<s.?L?H.LH crore with the investment of +ust <s.-, LLL crore in three years
of liberalization. he private insurance players have significantly improving
their market share when compared to IL years (ld 2orporation (i.e.1I2). As
per the figures compiled by I<;A, the 1ife Insurance Industry recorded a
total premium underwritten of <s. ?L,KLK.HJ crore for the period under
review. (f this, private players contributed to <s.?, L?H.LH crore, accounting
for ?L percent. 1ife Insurance 2orporation of India (1I2), the public sector
giant, continued to lead with a premium collection of <s.H,JMM.MK crore,
translating into a market share of HL per cent. In terms of number of policies
?
http%NNwww.allconferences.comNconferencesN@LLJLILHLKAI@IN
and schemes sold, private sector accounted for only -.KKper cent as
compared to HJ.@- per cent share of 1I2 (he /conomic imes, @? March,
@LLA).
he I2I2I 3rudential topped among the private players in terms of premium
collection. It recorded a premium of <s. -JA.H crore and a market share of
@I per cent, followed by =irla 0un 1ife with a premium under) written
<s.?KL crore and a market share of ?I percent, 7;#2 0tandard with ?-@.K
crore and Ma$ >ew Cork 1ife with <s.KJ.M crore with a market share of
appro$imately ?I per cent each. 'nlike their counterpart in the life insurance
business, private non)life insurance companies have not yet started
addressing the retail market. All is set to change in the coming years. 1ike in
the banking sector, non)life insurance companies will soon have no choice
but to focus on individual buyers.
In case of private non)life insurance players, that their market share rose to
?A.?- per cent, recording a growth of KL.KI per cent on an annual basis,
while the market share of public sector stood at MI.MK per cent, registering a
marginal growth of J.-A per cent. he overall market has recorded a growth
of ?@.-@ per cent by the end of Ganuary @LLA. Among the private non)life
insurance players, I2I2I 1ombard topped the list with a premium collection
of <s.AL-.J@ crore in one year period with a market share of -.LI per cent
and with an annual ?-?.J per cent, followed by =a+a+ Allianz with a
premium of <s.-MI.L@ crore and @.H? per cent market share and ata AI5
with -LL.AH crore premium and @.@K per cent market share with an annual
growth rate of J@.JL per cent.
Among the public sector players, >ew India garnered a market share of
@A.-M per cent, <s.-, @@H.AH crore premium and an annual growth rate of
L.-M per cent, followed by >ational with a market share of @?.A- per cent,
<s.@,M-H.?? crore premium and an annual growth rate of ?H.MM per cent,
'nited India with a market share of ?H.AK per cent (<s.@,IKM.M- crore
premium) and (riental with a market share of ?M.@I per cent, <s.@,A?K.?K
crore premium and an annual growth rate of ?.MJ per cent. It is significant to
note that 7;#2 2hubb and 2holamandalam have registered annual growth
rates of AL-L.@J per cent and ??L?.@L per cent respectively, whereas >ew
India has registered it as L.-M per cent. If this trend continues, private insurer
would dominate the public sector like >ew India Insurance 2orporation. It is
obviously reflect the insurance sector has facing the challenges with foreign
counter parties as well as private counter parties and lot more opportunities
are prevailing to penetrate the insurance business among the uncovered
people and area of India. #urther, it leads to economic development of the
country. In this regard, it assumes greater significance to conduct debate
among the inter) disciplinary persons.
.RIE, HISTORY O, INSURANCE
SECTOR IN INDIA
2

he insurance sector in India has come a full circle from being an open
competitive market to nationalization and back to a liberalized market again.
racing the developments in the Indian insurance sector reveals the -JL)
degree turn witnessed over a period of almost ?HL years.
rhe business of life insurance in India in its e$isting form started in India in
the year ?M?M with the establishment of the (riental 1ife Insurance
2ompany in 2alcutta.
0ome of the important milestones in the life insurance business in India are%
?H?@ ) he Indian 1ife Assurance 2ompanies Act enacted as the first statute
to regulate the life insurance business.
?H@M ) he Indian Insurance 2ompanies Act enacted to enable the
government to collect statistical information about both life and non)life
insurance businesses.
?H-M ) /arlier legislation consolidated and amended to by the Insurance Act
with the ob+ective of protecting the interests of the insuring public.
@
http%NNbusiness.mapsofindia.comNinsuranceNbrief)history)of)insurance)sector.html
?HIJ ) @AI Indian and foreign insurers and provident societies taken over by
the central government and nationalized. 1I2 formed by an Act of
3arliament, viz. 1I2 Act, ?HIJ, with a capital contribution of <s. I crore
from the 5overnment of India.
he 5eneral insurance business in India, on the other hand, can trace its
roots to the riton Insurance 2ompany 1td., the first general insurance
company established in the year ?MIL in 2alcutta by the =ritish.
0ome of the important milestones in the general insurance business in India
are%
?HLK ) he Indian Mercantile Insurance 1td. set up, the first company to
transact all classes of general insurance business.
?HIK ) 5eneral Insurance 2ouncil, a wing of the Insurance Association of
India, frames a code of conduct for ensuring fair conduct and sound business
practices.
?HJM ) he Insurance Act amended to regulate investments and set minimum
solvency margins and the ariff Advisory 2ommittee set up.
?HK@ ) he 5eneral Insurance =usiness (>ationalization) Act, ?HK@
nationalized the general insurance business in India with effect from ?st
Ganuary ?HK-.
?LK insurers amalgamated and grouped into four company4s viz. the
>ational Insurance 2ompany 1td., the >ew India Assurance 2ompany 1td.,
the (riental Insurance 2ompany 1td. and the 'nited India Insurance
2ompany 1td. 5I2 incorporated as a company.

INSURANCE MAR1ET IN INDIA
3
NON-LIFE INSURANCE MARKET
In ;ecember @LLL, the 5I2 subsidiaries were restructured as independent
insurance companies. At the same time, 5I2 was converted into a national
re)insurer. In Guly @LL@, 3arliamant passed a bill, delinking the four
subsidiaries from 5I2.
3resently there are ?@ general insurance companies with A public sector
companies and M private insurers. Although the public sector companies still
dominate the general insurance business, the private players are slowly
gaining a foothold. According to estimates, private insurance companies
have a ?L percent share of the market, up from A percent in @LL?. In the first
half of @LL@, the private companies booked premiums worth <s J.-A billion.
Most of the new entrants reported losses in the first year of their operation in
@LL?.
*ith a large capital outlay and long gestation periods, infrastructure pro+ects
are fraught with a multitude of risks throughout the development,
construction and operation stages. hese include risks associated with
pro+ect implementation, including geological risks, maintenance,
commercial and political risks. *ithout covering these risks the financial
institutions are not willing to commit funds to the sector, especially because
the financing of most private pro+ects is on a limited or non) recourse basis.
-
http%NNwww.indiacore.comNinsurance@.html
Insurance companies not only provide risk cover to infrastructure pro+ects,
they also contribute long)term funds. In fact, insurance companies are an
ideal source of long term debt and e"uity for infrastructure pro+ects. *ith
long term liability, they get a good asset) liability match by investing their
funds in such pro+ects. I<;A regulations re"uire insurance companies to
invest not less than ?I percent of their funds in infrastructure and social
sectors. International Insurance companies also invest their funds in such
pro+ects.
Insurance costs constitute roughly around ?.@) @ percent of the total pro+ect
costs. 'nder the e$isting norms, insurance premium payments are treated as
part of the fi$ed costs. 2onse"uently they are treated as pass)through costs
for tariff calculations.
3remium rates of most general insurance policies come under the purview of
the government appointed ariff Advisory 2ommittee. #or 3ro+ects costing
up to <s ? =illion, the ariff Advisory 2ommittee sets the premium rates, for
3ro+ects between <s ? billion and <s ?I billion, the rates are set in keeping
with the committee!s guidelinesB and pro+ects above <s ?I billion are
sub+ected to re)insurance pricing. It is the last segment that has a number of
additional products and competitive pricing.
Insurance, like pro+ect finance, is e$tended by a consortium. >ormally one
insurer takes the lead, shouldering about AL)IL per cent of the risk and
receiving a proportionate percentage of the premium. he other companies
share the remaining risk and premium. he policies are renewed usually on
an annual basis through the invitation of bids.
(f late, with I33 pro+ects fizzling out, the insurance companies are turning
once again to old hands such as >32, >732 and =0/0 for business.
RE-INSURANCE BUSINESS
Insurance companies retain only a part of the risk (less than ?L per cent)
assumed by them, which can be safely borne from their own funds. he
balance risk is re)insured with other insurers. In effect, therefore, re)
insurance is insurer!s insurance. It forms the backbone of the insurance
business. It helps to provide a better spread of risk in the international
market, allows primary insurers to accept risks beyond their capacity, settle
accumulated losses arising from catastrophic events and still maintain their
financial stability.
*hile 5I2!s subsidiaries look after general insurance, 5I2 itself has been
the ma+or reinsurer. 2urrently, all insurance companies have to give @L per
cent of their reinsurance business to 5I2. he aim is to ensure that 5I2!s
role as the national reinsurer remains unhindered. 7owever, 5I2 reinsures
the amount further with international companies such as 0wiss
(0witzerland), Munichre (5ermany), and <oyale ('F). <einsurance
premiums have seen an e$orbitant increase in recent years, following the rise
in threat perceptions globally.
LIFE INSURANCE MARKET
he 1ife Insurance market in India is an underdeveloped market that was
only tapped by the state owned 1I2 till the entry of private insurers. he
penetration of life insurance products was ?H percent of the total ALL million
of the insurable population. he state owned 1I2 sold insurance as a ta$
instrument, not as a product giving protection. Most customers were under)
insured with no fle$ibility or transparency in the products. *ith the entry of
the private insurers the rules of the game have changed.
he ?@ private insurers in the life insurance market have already grabbed
nearly H percent of the market in terms of premium income. he new
business premiums of the ?@ private players have tripled to <s ?LLL crore in
@LL@) L- over last year. Meanwhile, state owned 1I2!s new premium
business has fallen.
Innovative products, smart marketing and aggressive distribution. hat!s the
triple whammy combination that has enabled fledgling private insurance
companies to sign up Indian customers faster than anyone ever e$pected.
Indians, who have always seen life insurance as a ta$ saving device, are now
suddenly turning to the private sector and snapping up the new innovative
products on offer.
he growing popularity of the private insurers shows in other ways. hey
are coining money in new niches that they have introduced. he state owned
companies still dominate segments like endowments and money back
policies. =ut in the annuity or pension products business, the private insurers
have already wrested over -- percent of the market. And in the popular unit)
linked insurance schemes they have a virtual monopoly, with over HL
percent of the customers.
he private insurers also seem to be scoring big in other ways) they are
persuading people to take out bigger policies. #or instance, the average size
of a life insurance policy before privatizations was around <s IL,LLL. hat
has risen to about <s ML,LLL. =ut the private insurers are ahead in this game
and the average size of their policies is around <s ?.? lakh to <s ?.@ lakh)
way bigger than the industry average.
=uoyed by their "uicker than e$pected success, nearly all private insurers
are fast) forwarding the second phase of their e$pansion plans. >o doubt the
aggressive stance of private insurers is already paying rich dividends. =ut a
re+uvenated 1I2 is also trying to fight back to woo new customers.
COMPARISON O, TERM INSURANCE PREMIUMS 2Rs. 3 Ye#$4
PREMIUM STRUCTURE O, ENDO5MENT PLANS
(<s. NC/A<)
MINIMUM RE6UIRED COMPOUND .ONUS RATE 2IN 74
5HOLE LI,E INSURANCE PREMIUMS 2RS. 3 YEAR4
E6UITY SHARE CAPITAL O, LI,E INSURANCE
COMPANIES
N#"e ! &8e '(s9$e$ 200:;0< 200<;0=
,$e')(
P$"&e$
I(>'#(
P$"&e$

L'!e I(s9$e$s
7;#2 0tandard 1ife Insurance 2o. 1td. @II.IL -@L.LL AK.I@ @K@.AM
I2I2I)3rudential 1ife Insurance 2o. 1td. JKI.LL H@I.LL @AL.IL JMA.IL
Ma$ >ew Cork 1ife Insurance 2o. 1td. -AJ.LM AJJ.LM ?@?.?M -AA.HL
Fotak Mahindra (ld Mutual 1ife Insurance 2o. 1td. ?I?.@J @??.KJ II.LJ @J.LL
=irla 0un 1ife Insurance 2o. 1td. @HL.LL -IL.LL H?.LL @J.LL
AA)AI5 1ife Insurance 2o. 1td. @-?.LL -@?.LL M-.AJ @-K.IA
0=I 1ife Insurance 2o. 1td. ?KI.LL -IL.LL H?.LL @IH.LL
I>5 :ysya 1ife Insurance 2o. 1td. @AI.LL -@I.LL MA.IL @J.LL
Met1ife India Insurance 2o. 1td. ?JL.LL @-I.LL J?.?L ?K-.HL
=a+a+ Allianz 1ife Insurance 2o. 1td. ?IL.LK ?IL.LK -H.L@ ???.LI
AM3 0anmar ?JL.LL @?K.?L IJ.AI ?JL.JI
A:I:A @A@.ML -?H.ML M-.?I @-J.JI
0ahara India ?IK.LL ?IK.LL L.LL ?IK.LL
S9? T&#@ 323=.<1 434<.=1 1053.A3 32A3.==
1ife Insurance 2orporation of India I.LL I.LL I.LL
T&#@ 2L'!e4 3243.<1 4352.=1 1053.A3 32A=.==
INVESTMENTS OF LIFE INSURERS IN LIFE FUND
(<s. In 2rore)
@LLM @LLK
PU.LIC SECTOR
1I2 (A) -J?A@M.MK -LAA-J.MM
PRIVATE SECTOR
7;#2 0; 1I#/ AML.KK -LI.A-
M>C1 A-J.-K @A?.MI
I2I2I3<' HKL.J- JIM.AI
=01I ?KL.LJ ?AL.-M
AA AI5 -H@.KJ @@L.JI
F(AF 1I#/ @LL.JK ?--.A-
0=I 1I#/ HJL.MH -JK.MA
=AGAG A11IA>O -M@.@M @@?.H?
M/1I#/ ?IK.?M ?@L.?M
AM3 0A>MA< ??L.K? HM.JH
I>5 :C0CA @A?.@@ KI.@M
A:I:A ?AA.HI ?AA.JI
0A7A<A 1I#/ ?A@.AM ?A-.@H
(A1 (=) AKHL.HM @MK@.L-
(A1 (AP=) -JJ@?H.MI -LK-LM.H?
INVESTMENTS O, LI,E INSURERS IN PENSIONS ,UNDS
(<s. In 2rore)
@LLM @LLK
PU.LIC SECTOR
1I2 (A) ??AJ@.L- H@AA.LJ
PRIVATE SECTOR
7;#2 0; 1I#/ ?I?.H? ?L?.JM
M>C1 ?A.L- @.??
I2I2I3<' ?JJ.JA ?@K.IH
=01I L.LJ L.LL
AA AI5 KJ.KM -H.KH
F(AF 1I#/ ?-.-J K.IA
0=I 1I#/ KM.HK ?I.A?
=AGAG A11IA>O H.@M -.M?
M/1I#/ L.@? L.LL
AM3 0A>MA< IL.AI H.M-
I>5 :C0CA L.LL L.LL
A:I:A L.LL L.LL
0A7A<A 1I#/ L.LJ L.LL
(A1 (=) IJ?.KI -LK.KK
(A1 (AP=) ?@L--.KM HII?.M-
INVESTMENTS O, LI,E INSURERS IN GROUP INSURANCE
(<s. In 2rore)
@LLM @LLK
PU.LIC SECTOR
1I2 (A) A@J-H.A@ -ALJM.-@
PRIVATE SECTOR
7;#2 0; 1I#/ L.LL L.LL
M>C1 K.@I ?.-I
I2I2I3<' L.LL L.LL
=01I L.LL L.LL
AA AI5 ?A.KL L.LL
F(AF 1I#/ @.LI L.HL
0=I 1I#/ ?L.KK @.H@
=AGAG A11IA>O ?.@K L.HI
M/1I#/ @.I@ L.AA
AM3 0A>MA< L.LL L.LL
I>5 :C0CA L.LL L.LL
A:I:A @.MI L.IK
0A7A<A 1I#/ L.L@ L.LL
(A1 (=) A?.A- K.?I
(A1 (AP=) A@JML.MI -ALKI.AK
INVESTMENTS O, LI,E INSURERS IN UNIT LIN1ED PLANS
(<s. In 2rore)
200= 200<
PU.LIC SECTOR
1I2 (A) @KIM.JK @LH.MK
PRIVATE SECTOR
7;#2 0; 1I#/ @HL.JK JL.H?
M>C1 @L.AA L.LL
I2I2I3<' @--K.?J KML.LK
=01I ??@I.K@ AKA.J@
AA AI5 ML.M? ?@.KI
F(AF 1I#/ -LM.-- I-.IA
0=I 1I#/ -.IA L.LL
=AGAG A11IA>O -JH.@A @M.J?
M/1I#/ ?.KA L.LL
AM3 0A>MA< @?.AL L.LL
I>5 :C0CA KM.J? @L.M?
A:I:A ?-?.?- AK.?-
0A7A<A 1I#/ L.LL L.LL
TOTAL 2.4 4<:=.<< 14<=.43
TOTAL 2AB.4 <52<.45 1:==.31
COMPANY PRO,ILE
.A/A/ ALLIAN0 LI,E INSURANCE
.#C#C A@@'#(D L'!e I(s9$#(Ee C"p#(y L'"'&e>
=a+a+ Allianz 1ife Insurance 2o. 1td. is a +oint venture between two leading
conglomerates) , =a+a+ Auto, one of the biggest @ and - wheeler
manufacturers in the world and Allianz A5, one of the world!s largest
insurance companies.
.#C#C A@@'#(D L'!e I(s9$#(Ee
Is the fastest growing private life insurance company in India.
2urrently has over -,LL,LLL satisfied customers
*e have customer care centers in ?II cities with @MLLL Insurance
2onsultant providing the finest customer service.
(ne of India!s leading private life insurance companies
.#C#C A@@'#(D Ge(e$#@ I(s9$#(Ee C"p#(y L'"'&e>
=a+a+ Allianz 5eneral Insurance 2ompany 1imited is a +oint venture
between =a+a+ Auto 1imited and Allianz A5 of 5ermany. =oth en+oy a
reputation of e$pertise, stability and strength.
=a+a+ Allianz 5eneral Insurance received the Insurance <egulatory and
;evelopment Authority (I<;A) certificate of <egistration (<-) on May @nd,
@LL? to conduct 5eneral Insurance business (including 7ealth Insurance
business) in India. he 2ompany has an authorized and paid up capital of <s
??L crores. =a+a+ Auto holds KAQ and the remaining @JQ is held by Allianz,
A5, and 5ermany.
Bajaj Allianz today has a network of 42 offices spread across the
length and breadth of the country. From Surat to Siliguri and
ammu to !hiru"ananthapuram# all the offices are
interconnected with the $ead %ffice at &une.
ALLIAN0 GROUP

Allianz 5roup is one of the world!s leading insurers and financial services
providers.
#ounded in ?MHL in =erlin, Allianz is now present in over KL countries with
almost ?KA,LLL employees. At the top of the international group is the
holding company, Allianz A5, with its head office in Munich.
Allianz 5roup provides its more than JL million customers worldwide with
a comprehensive range of services in the areas of
3roperty and 2asualty Insurance,
1ife and 7ealth Insurance,
Asset Management and =anking.
A11IA>O A5) A 51(=A1 #inancial 3(*/<7('0/
*orldwide @nd by 5ross *ritten 3remiums ) <s.A, AJ,JIA cr.
-rd largest Assets under Management (A'M) R largest amongst
Insurance cos. ) A'M of <s.I?, HJ,HIH cr.
?@th largest corporation in the world
AH.M Q of global business from 1ife Insurance
/stablished in ?MHL, ??L yrs of Insurance e$pertise
KL countries, ?K-,KIL employees worldwide
.A/A/ GROUP

=a+a+ Auto 1td, the flagship company of the <s. MLLL crore =a+a+ group is
the largest manufacturer of two)wheelers and three)wheelers in India and
one of the largest in the world.
A household name in India, =a+a+ Auto has a strong brand image R brand
loyalty synonymous with "uality R customer focus.
A STRONG INDIAN .RAND; HAMARA .A/A/
(ne of the largest @ R - wheeler manufacturer in the world
@? millionP vehicles on the roads across the globe
Managing funds of over <s AKLL cr.
=a+a+ Auto finance one of the largest auto finance cos. in India
<s. I,KAA 2r. urnover R 3rofits of JKM 2r. in @LLI)LJ
It has +oined hands with Allianz to provide the Indian consumers with
a distinct option in terms of life insurance products.
As a promoter of =a+a+ Allianz 1ife Insurance 2o. 1td., =a+a+ Auto
has the following to offer )
#inancial strength and stability to support the Insurance =usiness.
A strong brand)e"uity.
A good market reputation as a world class organization.
An e$tensive distribution network.
Ade"uate e$perience of running a large organization.
PRODUCTS
Allianz A5 with over ??L years of e$perience in over KL countries and =a+a+
Auto, trusted for over II years in the Indian market, together are committed
to offering you financial solutions that provide all the security you need for
your family and yourself.
=a+a+ Allianz brings to you several innovative products, the details of which
you can browse in this section.
INDIVIDUAL PRODUCTS
UNITGAIN
A 'nit 1inked 3lan
RIS1 CARE
3ure erm 3lan
TERM CARE
erm 3lan with <eturn)of)3remium
INVESTGAIN
An /ndowment 3lan
LI,ETIME CARE
*hole 1ife 3lan
CHILDGAIN
2hildren!s 3olicy
LOAN PROTECTOR
A Mortgage <educing erm Insurance
3lan
CASHGAIN
Money =ack 3lan
1EYMAN INSURANCE
A 3romising =usiness (pportunity
S5ARNA VISHRANTI
<etirement 3lan
UNITGAIN PLUS
'nit 1ink plan with higher allocation
LI,ELONG GAIN PLAN
A lifetime of security for your family
RIDERS UNITGAIN PLUS
*hile the basic life insurance
MAHILAGAIN RIDER
he uni"ue plan that takes care of you and
your loved ones.
UNITGAIN EASY PENSION
A 3lan that enables you retire with
laughter lines.... not worry lines
S5ARNA RA1SHA;ROC
A plan that provides you with regular
income... for life.
HEALTHCARE
his is a three)year health insurance plan,
with life insurance benefit.
UG PREMIER
'pfront Allocation of ?LIQ of single
premium on day ?
GROUP PLANS
5<('3 2</;I 07I/1;
5<('3 /<M 1I#/
5<('3 /<M 1I#/ 027/M/
5<('3 0'3/<A>>'AI(> 027/M/
5<('3 5<A'IC 2A</ 027/M/
I>:/0 31'0
I(s9$#(Ee !$ NRI
All Indians have an underlying need to feel secure, to care for the loved ones
and to provide for old age. he need is felt more when you are away from
your 7omeland. =ut being away from India doesn!t mean you have to
compromise on the safety and security of your loved ones.
In fact, you can now easily steer your savings from overseas to conveniently
meet your family!s needs ) now and in the future.
=a+a+ Allianz understands your need. he need to do something fruitful for
your loved ones.. he urge to let them know that you care. hat!s why =a+a+
Allianz introduced the ><I Insurance services. >ow, you can invest your
hard earned money in India and in the bargain ensure your family!s future.
Invest 5ain ) !*ith 3rofits /ndowment 3lan4.
2ash 5ain ) !*ith 3rofits Money =ack 3lan!.
2hild 5ain ) !*ith 3rofits Money =ack 3lan! for children.
1ifetime 2are ) !*ith 3rofits *hole of 1ife 3lan!.
0warna :ishranti ) !*ith 3rofits ;iffered Annuity 3lan!.
'nit 5ain ) !'nit 1inked *hole of 1ife 3lan!.
O./ECTIVES O,
THE STUDY
O./ECTIVES O, THE STUDY
o study the sales 0trategy of field force of =a+a+ Allianz 1ife
Insurance.
o study the process of selling of Insurance 3olicies by
Advisors.
RESEARCH
METHODOLOGY
RESEARCH METHODOLOGY
<esearch methodology is a way to systematically solve the
research problem. <esearch methodology constitutes of research
methods, selection criterion of research methods, used in conte$t
of research study and e$planation of using of a particular method
or techni"ue so that research results are capable of being evaluated
either by researcher himself or by others. *hy a research study has
been undertaken, how the research problem has been formulated,
why data have been collected and what particular techni"ue of
analyzing data has been used and a best of similar other "uestion
are usually answered when we talk of <esearch methodology
concerning a research problem or study. he main aim of research
is to find out the truth which is hidden and which has not been
discovered as yet.
AREA O, STUDY
he area of the study related with getting correct information of
life insurance policies of different peoples in the region of =hopal.
SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a
given population. It refers to the techni"ues or the procedure the
researcher would adopt in selecting items for the sample. 0ample
design may as well be drawn from the population to be included in
the sample i.e. the size of the sample. 0ample design is determined
before data are collected.
D9$'() "y s&9>y I 8#*e &#%e( 15 '(s9$#(Ee E#$e E(s9@&#(&s #s
&8e s'De ! s#"p@e.
TOOLS USED
o know the response, I have used the "uestionnaire method. If
one wishes to find what insurance care consultants think or know,
the logical procedure is to ask them. his has led marketing
researchers to use the "uestionnaire techni"ue for collecting data
more than any other method.
In this method "uestionnaire were distributed to the respondents
and they were asked to answer the "uestions in the "uestionnaire.
he "uestionnaire were structured non disguised "uestionnaire
because the "uestion which the "uestionnaire contained, were
arranged in a specific order besides every "uestion asked were
logical for the study, no "uestion can be termed as irrelevant.
he "uestionnaire was non)disguised because the "uestionnaire
was constructed so that the ob+ective is clear to the respondent. he
respondents were aware of the ob+ective. hey knew why they
were asked to fill the "uestionnaire.
*ith the help of following techni"ues, which are using by =a+a+
Allianz I analyze that the how techni"ues of sales promotion are
useful8
DATA COLLECTION
PRIMARY DATA SOURCES
hrough interaction with insurance care consultant
hrough "uestionnaires filled from the insurance care consultant.
SECONDARY DATA SOURCESF
hrough Internet, various official sites of the companies.
hrough pamphlets and brochures of the companies.
Gournals R Magazine
LIMITATIONS O, THE STUDY
#ollowing limitations were faced during the study%
?. *hile designing the "uestionnaire it was kept in mind to gather more
and more information from each target person. #or the neither present
nor descriptive "uestions could have served the purpose. herefore the
"uestionnaire contained in the open)ended "uestions.
@. he study was conducted in =a+a+ Allianz in =hopal city, which has
?@K to ?KL insurance care consultants only. he sample size was of IL
insurance care consultants only so that accuracy of data so collected
could be absurd covered by circulation of "uestionnaire.
-. he accuracy of indications given by the respondents may not be
consider ade"uate as whether the language used in the "uestionnaire is
understood by the respondent cannot be taken for granted.
A. he study is based on the information gathered from the insurance
care consultants. herefore in such case it is possible that the
information supplied might be biased because the insurance care
consultant might have shown partiality towards their insurance
policies.
I. 0ince the survey was limited to IL insurance care consultants it is
rather difficult to give a precise conclusion but I have tried to the best
of my capability to give the conclusion on a comprehensive manner.
DATA ANALYSIS
G
INTERPRETATION
DATA ANALYSIS AND INTERPRETATION
(=ased on survey conducted for ?I insurance care consultants)
E.? *hich techni"ue of sales promotion you prefer8
(ptions <esponse in Q
;isplay ALQ
;oor to ;oor ;emo ?AQ
/$hibition ?JQ
2atalogue @LQ
3rice (ff ?LQ
Interpretation%
According to the study ALQ insurance care consultants prefer display
techni"ue,@LQ insurance care consultants prefer catalogues, ?JQ to the
e$hibition, ?AQ to the door to door demo and ?LQ insurance care
consultants prefer price off techni"ue.
E.@ which techni"ue is giving good response from customers8
(ptions <esponse in Q
;isplay ?MQ
;oor to ;oor ;emo -JQ
/$hibition ?MQ
2atalogue ?JQ
3rice (ff ?@Q
Interpretation%
According to the study -JQ insurance care consultants say door to door
demo techni"ues giving good response, ?MQ insurance care consultants say
to the display R e$hibition, ?JQ to the catalogues R ?@Q say to the price
off techni"ue.
E.- *hich techni"ue is economically beneficial8
(ptions <esponse in Q
;isplay ?LQ
;oor to ;oor ;emo @@Q
/$hibition ?LQ
2atalogue AJQ
3rice (ff ?@Q
Interpretation%
According to the AJQ insurance care consultants, catalogue techni"ue is
economically beneficial. @@Q to the door)to)door demo and ?@Q insurance
care consultants prefer price off techni"ue.?LQ to the e$hibition R display
techni"ue.
E.A *hich techni"ue re"uires less time in sales promotion8
(ptions <esponse in Q
;isplay @@Q
;oor to ;oor ;emo -MQ
/$hibition ?LQ
2atalogue ?JQ
3rice (ff ?AQ
Interpretation%
According to the study -MQ insurance care consultants say display techni"ue
re"uires less time in sales promotion. @@Q to the display techni"ue, ?JQ
insurance care consultants vote to the catalogues, ?AQ insurance care
consultants vote to the ?LQ to the e$hibition.
EI *hich techni"ue is easily manageable8
(ptions <esponse in Q
;isplay ?MQ
;oor to ;oor ;emo -LQ
/$hibition ?LQ
2atalogue -AQ
3rice (ff MQ
Interpretation%
According to the study -AQ insurance care consultants say that the
catalogues is easily manageable, -LQ to the door to door demo,?MQ
insurance care consultants prefer display techni"ue ?LQ to the e$hibition,
and MQ insurance care consultants say to the price off techni"ue.
E.J *hich techni"ue re"uires less knowledge to e$ecute8
(ptions <esponse in Q
;isplay ?AQ
;oor to ;oor ;emo ?@Q
/$hibition ?@Q
2atalogue @@Q
3rice (ff ALQ
Interpretation%
According to the study ALQ insurance care consultants vote to the price off
techni"ue is re"uire less knowledge to e$ecute.@@Q insurance care
consultants prefer catalogues, ?AQ to the display and ?@Q to the e$hibition
R door to door.
E.K *hich techni"ue re"uires more knowledge to e$ecute8
(ptions <esponse in Q
;isplay @LQ
;oor to ;oor ;emo A@Q
/$hibition @AQ
2atalogue ?LQ
3rice (ff AQ
Interpretation%
According to the study A@Q insurance care consultants vote to the door)to)
door techni"ue that it re"uires more knowledge to e$ecute than others. @AQ
to the e$hibition, @LQ to the display techni"ue, ?LQ insurance care
consultants give vote to the catalogues and AQ insurance care consultants
prefer price off techni"ue.
E.M 3rice off are necessary for sales promotion8
(ptions <esponses in Q
Ces AJQ
>o ALQ
2an4t say ?AQ
Interpretation%
According to the study AJQ insurance care consultants say yes that the price
off are necessary for sales promotion. ALQ say no and ?AQ say can4t say.
E.H ;o you think that sales promotion program that is presently
undertaken by =a+a+ Allianz8 Are satisfactory8
(ptions <esponses in Q
Ces -AQ
>o AJQ
2an4t say @LQ
Interpretation%
According to the study AJQ insurance care consultants say >o that the sales
promotion program that is presently undertaken by =a+a+ Allianz are
satisfactorily -JQ say Ces and @LQ say can4t say.
E.?L 0hould =a+a+ Allianz take up new sales promotion program8
(ptions <esponses in Q
Ces K@Q
>o @@Q
2an4t say JQ
Interpretation%
According to the study K@Q insurance care consultants say yes installment
offers are @@Q say no and JQ say can4t say.
O.SERVATIONS
G
,INDINGS
O.SERVATIONS G ,INDINGS
his sales promotion process was very much satisfying for me not
only practically and academically but it also helped me in developing
my communication skill and enriched my knowledge also.
I have come to know about the importance of marketing especially
with regard to 0ales 3romotion on the most renowned organization
like =a+a+ Allianz. /specially because of emergence of many
competitor with e$cellence in services R competitive product. he
base of this chapter conclusion is on the data analysis or what we say
findings.
I have finding from the insurance care consultants of the =a+a+
Allianz. And their insurance policies on my topic.
*hen the insurance care consultant is asked why they are dealing in
this particular insurance policies (product) they mostly stressed on
company4s image. hey also said that all income and age group of
customers are attracted towards their product but buyers are mainly
from higher and middle)income group.
Insurance care consultants said that their sale is very much increased
in the last years because of an e$cellent performance of the product.
Insurance care consultants said that the customer are very much
satisfied after getting insurance policies because of its features related
with risks of life and also because of "uality of service provide by
their company is very good.
SUGGESTIONS
SUGGESTIONS
7ere are some suggestions, which may help to strengthen the firm further
Many of the insurance care consultants of the =a+a+ Allianz. 7as the
lack of good communication skills and training. 0o training should be
easy.
=a+a+ Allianz. 0hould use new techni"ues of sales promotion.
2ustomer services should be more comfortable than others.
3eople must be made aware of the benefits of the policies of =a+a+
Allianz.
he company should give personal attention to each customer.
3roper assistance should be provided to the customer at the time of
claim settlement.
All the details about the company should be given to the customers.
<egular advertisement of the company should be given : and
>ewspaper.
he company must try to find new markets especially in the rural
areas.
he company should do fre"uent analysis of the competitors.
.I.LIOGRAPHY
.%s
1&8#$' C.R., (?HHH) <esearch Methodology, *ishwa 3rakashan
1&@e$ P. #(> A$"s&$() G.H (@LLI) 3rinciples of Marketing >ew
;elhi, 3rentice 7all of India
1&@e$ P.H (?HHH) Marketing Management Analysis, 3lanning,
Implementation and 2ontrol, >ew ;elhi, 3rentice 7all of India
S#Ie(# R#C#(, (?HHH) Marketing Management, ata Mc5raw 7ill
5e?s'&esF
www.ba+a+allianz.com
www."uickmba.com
www.indiainfoline.com
6UESTIONNAIRE
>ame% SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
Address% SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS
E.? o which techni"ue of sales promotion you prefer8
A) ;isplay =) ;oor to door demonstration
2) /$hibition ;) 2atalogue
/) 3rice)off
E.@ which techni"ue is giving good response from customers8
A) ;isplay =) ;oor to door demonstration
2) /$hibition ;) 2atalogue

/) 3rice)off
E.- *hich techni"ue is economically beneficial8
A) ;isplay =) ;oor to door demonstration
2) /$hibition ;) 2atalogue
/) 3rice)off
E.A *hich techni"ue re"uires less time in sales promotion8
A) ;isplay =) ;oor to door demonstration
2) /$hibition ;) 2atalogue
/) 3rice)off
E.I *hich techni"ue is easily manageable8
A) ;isplay =) ;oor to door demonstration
2) /$hibition ;) 2atalogue
/) 3rice)off
E.J *hich techni"ue re"uires less knowledge to e$ecute8
A) ;isplay =) ;oor to door demonstration
2) /$hibition ;) 2atalogue
/) 3rice)off
E.K *hich techni"ue re"uires more knowledge to e$ecute8
A) ;isplay =) ;oor to door demonstration
2) /$hibition ;) 2atalogue
/) 3rice)off
E.M 3rice off and installment offers are necessary for sales promotion8
A) Ces =) >o
2) 2an4t say
E.H ;o you think that sales promotion program that is presently
undertaken by =a+a+ Allianz8 Are satisfactory8
A) Ces =) >o
2) 2an4t say
E.?L 0hould =a+a+ Allianz. ake up new sales promotion program8
A) Ces =) >o
2) 2an4t say