BIBLIOGRAPHY AND REFERENCES

1.  www.reliancelife.com

2.  www.indiainfoline.com

3.  www.bimaonline.com

4.  www.google.com

5.  www.yahoo.com

6.  www.wikipedia.com

7.  www.moneycontrol.com

8.  Marketing Management by Philip Kotler

9.  Business Research by N.K. Malhotra

Suggestions and recommendation

Followings are the recommendations and the suggestions not only for the Reliance life

insurance company but also for other private life insurance companies if they want to
complete with public/government life insurance companies.

1. Creating positive image: Private companies should try their level best to create positive

and favourable image in the minds of people i.e. in the minds of their target customers.

2. Training and development to agents: Company must provide training to their agents and

financial so that they can satisfy customer and doubts effectively.

3. Concern towards customers: Serious concern must be given to the customers as in

today’s scenario it regarded as “Customer is a king”

4. Co-operation with agents and branch managers: The Company must full co-operate with

branch managers and agents.

5. Availability of branch offices: There must be the branch offices in each 20-30 Km.

diameter.
6. Efficient management: The management appointed must be that much capable that it

can control the whole team and improve the goodwill and image of the company.

7. Sales promotion and marketing: The marketing department must be so aggressive that it

can have a close watch on the competitors‟ activities. Not only this but also it must take

care of the need and wants of the customers also.

8. Incentive schemes and permanency in job: There must be good incentive schemes to be

designed as these can acts as good motivators for the agents. The scheme of permanent job

placement must be introduce for those agents who have shown extra ordinary

performance.

SWOT ANALYSIS

STRENGTH

1) A strong brand name with a high degree of financial support which is the back bone of
the company.

2) Brand leaders in bringing latest financial services for the common man.

3) An innovator, pre problem seeker and risk taking capabilities.

4) Systematic, planned and quick actions taken up lead to quick reactions by the company

ultimately providing a competitive edge to Reliance Life Insurance.

WEAKNESS

1) The data collected cannot be considered as 100% accurate but it is only an estimated

figures gathered by the survey.

2) The analysis so done cannot be regarded as the final as change is the only constant thing

which happens.

OPPORTUNITIES

1) A huge untapped market.

2) Emerging middle class, a good potential market.

3) Increasing employment rate and income.

4) Increasing financial investments in market.

THREATS

1) Neck to Neck competition with ICICI and HDFC with respect to services and policies.

2) Threats from growing competitors like Bajaj Allianz and Aviva in Insurance sector.

3) New entrant in the market, Sahara India Life, Om KOTHAK MAHINDRA etc, is an area of

concern.

CONCLUSION

Reliance Life Insurance has always been an innovator in the field of Insurance. The company
has a keen interest in the development and enhancement of its products in India. The

company focuses in providing quality products to all the areas of our country.

After the deep study of insurance sector of India, I can tell that this is the sector, which has

most business opportunities perhaps in India Insurance industry is one of the fastest sectors

in India.

Insurance sector has been growing by 25% to 30% and it is expected to increase by 50% in

coming 5 years. After the opening up of the insurance sector, it has become much

competitive and insurance awareness among people has increased.

As far as the comparison of Reliance Life Insurance and other players is concerned, there are

both positive as well as negative impacts on both the sides.

For Reliance Life Insurance, the negative aspect is that its market share is low.

For private players the negative aspect is that they have to fight with the public sector giant

which is established player with a high brand value.

But the positive impact is that the life insurance awareness has increased and the business

of Reliance Life Insurance has increased.

Reliance Life Insurance products have tremendous amount of potential and demand in the

market. The name speaks for it and the customer associate themselves with the brand

name. Reliance Life Insurance has tight competition with ICICI Prudential.