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Dear Sir/Madam,

I introduce myself as a PhD research scholar working on the topic, Factors Affecting General
Insurance Penetration in India.
I present this questionnaire to get your valuable response to certain questions which will help
me significantly in carrying out my valuable work. I humbly solicit your help to feel this
questionnaire and get support in my research endeavor.
Brief Summary of my investigation work
Insurance is defined as equitable transfer of risk of a loss, from one entity to another,
in exchange for payment. An insurer is a company selling the insurance, the insured or
policy holder, is the person or entity buying the insurance policy. The amount to be
charged for a certain amount of insurance coverage is called the premium.
General insurance means all types of insurance other than life insurance. Everything
from house breaking to theft of machinery, fire, breach of trust, pet animals, homes,
shops, offices, travel etc. are included here. My investigation work is meant for collecting
special information about G.I. products and their penetration in the rapidly growing economy
like ours.
Every insurance product has certain general features and certain special features for e.g.
generally insurance products are available in the market with sum assured and affordable
premium. There are insurance product with the combination of life and general insurance for
e.g. life & house insurance.
In India insurance penetration is very low. Traditionally in India insurance policies are not
highly promoted. This particular study is addressing general insurance penetration prospects
and potential competition in India. Primary data will be collected from the identified area
with the use of a well designed questionnaire. The sample design refers to selection of
samples from the entire population. Random sampling will be used for selection of samples.
Respondents will be from insurance companies (insurer) as well as industry people (insurance
customer i.e. insured)
Hereby I am sending questionnaire for the same. Please respond to all statements. Your
perception is important to us. It will not take more than 10 mins to complete the questionnaire.
Thanks & Regards!
Prof. Sulbha S. Raorane

Section 1
Name of the Respondent: _________________________________________________
Designation: ______________________________________________________________
Name of the company (Employer):_____________________________________________
Age: _______________________________________________________________________
Qualification: ______________________________________________________________
No. years of experience in insurance/any other industry: ________________________

Section 2
Factors Affecting General Insurance Penetration in India
1. There are certain common features observed in different insurance products.
Which common features of product are important for General Insurance penetration in
India?
a. Assured sum
( )
b. Amount of premium
( )
c. Tenure of product
( )
d. Any other important common features: ___________________________
2. There are certain special features observed in different insurance products.
Which special product features are important for General Insurance penetration in India?
a.
b.
c.
d.
e.

Reliability
(
)
Quick Service
(
)
Nature of Coverage
(
)
Details of the data regarding the property required
(
)
Any other important special features: __________________________________

3. Different companies have introduced with different products with different features. For
e.g. generally insurance products are available in the market with sum assured and
affordable premium. There are insurance product with the combination of life and general

insurance for e.g. life & house insurance. How important are these features for making
decision to buy these insurance products?
a. Assured sum
(
)
b. Amount of premium
(
)
c. Tenure of product
(
)
d. Reliability
(
)
e. Quick Service
(
)
f. Nature of Coverage
(
)
g. Details of the data regarding the property required
(
)
h. Any other important features__________________________________
4. Where did you actually get real knowledge about General Insurance policies?
Journals ( )
Magazines ( ) Newspapers ( ) Business Contacts ( ) Suppliers (
Promoters of Insurance Company ( ) any other source _____________________

5. As per your knowledge what is awareness level of the various insurance products
available in the market?
Not aware ( )

somewhat aware ( )

Aware ( )

fully aware (

6. What extent private & public sector ownership of the firm influence decision to buy
insurance product?
Least Imp ( )

Slight Imp ( )

Important ( )

Very Imp. ( )

Most Imp. ( )

7. What are the customer expectations that influence in buying general insurance product in
India?
a.
b.
c.
d.

Expectations on Safety of the scheme


( )
Expectations on Delivery Schedule
( )
Expectations on Tax Benefits
( )
Any other customer expectations__________________________________

8. What are the service qualities factors influence to buy general insurance product in India?
a. Customer friendliness
( )
b. Technology involved in the calculation of sum assured
( )
c. Transparency regarding compensation
( )
d. Extra coverage (Bonus)
( )
e. Any other service quality factors __________________________________

9. What are the promotional factors that influence in buying general insurance product in
India?
a.
b.
c.
d.
e.

Advertisement
( )
Agent Recommendation
( )
Friends/Relatives Suggestion
( )
Brand Name
( )
Any other promotional factors__________________________________

10. What are the risks- returns factors that influence in buying general insurance product in
India?
a.
b.
c.
d.
e.
f.
g.

Regular Income
(
)
Performance Guarantee
( )
Assured Return
( )
Maturity Amount to be received
( )
Premium amount to pay
( )
Stage of development of economy
( )
Any other risk-returns factors__________________________________

11. What are the legal factors affect on general insurance penetration in India?
a.
Control on Foreign Direct Investment
(
b.
Insurance legislation in India
(
c.
Consumer protection legislation in India
(
d. Time consuming Indian judicial system
(
e. Any other legal factors_____________________________________

)
)
)
)

12. As per your knowledge if any other factors affects on general insurance penetration in
India please mention below:
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

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