MARKETING AND PROMOTION

OF
RELIANCE CHILD PLANS

Submitted in partial fulfillment of the

requirements for
Master of Business Administration (MBA)
BY
UJJWAL TIWARI
CLASS OF 2009-2011

ARMY INSTITUTE OF MANAGEMENT & TECHNOLOGY,

[i]
 PLOT NO M-l, POCKET P-5, GREATER NOIDA-201306
(UP)

AUGUST 2010

ACKNOWLEDGEMENT

It is said that “most important single word is we and zero important single Word is
I”. This is true in even today’s modern era. It is absolutely impossible for a
single individual to complete the assigned job without the help and assistance
from others.

It is my greatest pleasure to acknowledge sincere gratitude towards my

industry mentor Mr.MANOJ GUPTA ‘BRANCH HEAD’ “RELIANCE
LIFE INSURANCE” siliguri-1 for the completion of project.

Second thanks goes to my faculty mentor PROF YASEEN KHAN for his
valuable suggestions and support which kept me boosted and encouraged
throughout this span.

I would also like to acknowledge my sincere gratitude towards the team of

SALES MANAGERS of siliguri-1 branch and their advisors because without
their timely suggestions and experiences this project would not have been
completed, also their experience taught me do’s and don’ts of corporate, and
me the practical and field experience of sales.

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Finally I would like to devote my project to all my friends and family
Members because without their support and beliefs this project would not
have been completed.

THANKS EVERYONE
UJJWAL TIWARI
MBA (CLASS OF 2009-2011)

CERTIFICATE OF ORIGINALITY

I UJJWAL TIWARI; Roll No:-96, class of 2009-2011; a full time bona fide student of third

Semester of Master of Business Administration (MBA) Programme of Army Institute of

Management And Technology, Greater Noida. I hereby certify that this project work was

carried out by me at

RELIANCE LIFE INSURANCE

SILIGURI-1 BRANCH

SILIGURI, DIST:-DARJEELING

WEST BENGAL

and the report submitted in partial fulfillment of the requirements of the programme is an

original work of mine under the guidance of the industry mentor MR.MANOJ GUPTA

(BRANCH MANAGER SILIGURI-1). And faculty mentor MD.YASEEN KHAN and is not

based or reproduced from any existing work of any other person or on any earlier work

undertaken at any other time or for any other purpose, and has not been submitted anywhere else

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at any time.

(Student's Signature)

Date: September 10, 2010

(Faculty Mentor's Signature)

Date: August 10, 2010

ARMY INSTITUTE OF MANAGEMENT & TECHNOLOGY,

GREATER NOIDA

INDUSTRY MENTOR’S ASSESSMENT

Date :03/08/2010

Name of Industry Mentor :MR.MANOJ GUPTA

Designation : BRANCH HEAD

Organization : RELIANCE LIFE INSURANCE COMPANY

Address : RELIANCE LIFE INSURANCE COMPANY

SILIGURI-1 BRANCH
GETANJALI COMPLEX 2ND FLOOR SEVOKE ROAD
SILIGURI, DIST:-DARJEELING
WEST BENGAL 734001

Phone : 0353-3058001(O)
09333669330(M)

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 E-Mail : manoj c gupta@relianceada.com

Student’s Name : UJJWAL TIWARI

Assessment of the Student : The Trainee has really delivered his best, working with
Reliance Life Insurance ; these are the following qualities
in him PUNCTUAL ,DISCIPLINED , HARD WORKING,
GOOD MANAGERIAL SKILLS and a TEAM LEADER.
He can work productively and efficiently in every sector.

Remarks : Excellent, I would always like to include ujjwal in my

team of SALES MANAGERS, hence I’m offering him a
PPO (PRE PLACEMENT OFFER).

Signature :

EXECUTIVE SUMMARY

The Project was to “MARKET AND PROMOTE” the RELIANCE CHILD PLANS (both
TULIP and ULIP) hence it was necessary to understand and grasp the psychology of customers
and thought process regarding insurance and this particular plan, because in India Life Insurance
is still considered as the subject matter of solicitation which essentially means that insurance has
to be requested or asked for, not sold.

At the same time so many players in the industry offering almost identical or even better plans
made the task tougher, hence it was the need of hour to do something unique and different so that
my motive (to market and promote the Reliance child plan is achieved).

Keeping in mind of doing something unique and different I first of all started meeting and
discussing with the STAR performers both advisors and sales managers such that the customers
need and perception would be analyzed hence for this purpose I prepared a questionnaire which
were direct in nature and are to be answered by advisors because they are the people working in
field and understands the customers mind set better than anyone on this earth, also they are the
one with clear and transparent picture about the MARKET and ENVIRONMENT.

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Finally after discussions with SALES MANAGERs and interpreting the response thus collected
by ADVISORS the technique of INDIRECT PROMOTION followed by MARKETING the
PLAN (Reliance child plans) is adopted; which resulted in the INCARNATION of a unique
BRAIN CHILD “PAINT MY FUTURE” a SCHOOL CONTACT PROGRAM because our main
motive was to reach our target customers THE PARENTS and this will be the only proper way
to reach them indirectly and then we can MARKET our PRODUCT indirectly.

Not just the promoting and marketing was important but to suffice my requirement of marketing
there was a need of quality advisors with strong PR(public relation) because of the fact of
insurance being subject matter of solicitation hence I generated the leads to recruit advisors
because the ultimate goal is to close a business.

The next stage of the project was to organize the event “PAINT MY FUTURE” an exciting
drawing competition for kids from classes NURSERY TO 4th at their school. For this purpose we
segregated the school in terms of the tuition fee charged by the school and after discussion with
the head office and REGIONAL MANAGER it was decided that schools charging Rs 4000 and
above monthly will be included for the purpose and in this manner three schools were contacted

1. NIRMALA CONVENT SCHOOL SILIGURI

2. DON BOSCO SCHOOL SILIGURI

3. DELHI PUBLIC SCHOOL SILIGURI

The event was organized by Reliance Life Insurance siliguri-1 with the help of the respective
schools and in this manner leads for business were generated. And in this manner the child plans
were promoted and marketed. (till date 160 businesses were closed)

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 LIST OF CONTENTS

CHAPTER CHAPTER NAME PAGE

NO. NO.
1 OBJECTIVES OF THE STUDY 2
2 INDUSTRY PROFILE 3
2.1 Introduction 4
2.2 Benefits of life Insurance 6
2.3 The Insurance Industry in India 8
3 PROFILE OF ORGANIZATION 16
3.1 Introduction of the Company 17
3.2 Brief overview of each of the Business 25
3.3 About the Reliance Life insurance 35

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 3.4 Reliance Life Insurance Plans 37
3.5 Major Players in the Insurance industry 41
4 LITREATURE REVIEW 52
4.1 Literature Review Buffering 53
4.2 Different Companies Technique 54
4.3 Marketing Strategies Adopted by Reliance 55
5 METHODOLOGY 57
5.1 Scope Of the Study 58
5.2 Significance of the Study 58
5.3 Research Design 59
5.4 Limitations of the Study 60
5.5 The Roadmap 62
6 RESULTS AND ANALYSIS 66

LIST OF CONTENTS

CHAPTER CHAPTER NAME PAGE

NO. NO.
7 CONCLUSIONS AND RECOMMENDATIONS 72

7.1 Conclusions 73

7.2 Recommendations 74
8 BIBLIOGRAPHY AND REFERENCES 76
9 APPENDIX

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9.1 Table 1 40

9.2 Table 2 53

9.3 Figure – 1 67

9.4 Figure – 2 68

9.5 Figure – 3 69

9.6 Figure – 4 70

9.7 Figure – 5 71

9.8 Questionnaire for advisors 79

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