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Project Report on

“Study of Marketing Strategy of BHARTI AXA INSURANCE LTD.”

ACKNOWLEDGEMENT
This project grew out of our preparation for more than twenty days. An enormous debt is owed to our tutor, Professor-------, for his wisdom, enthusiasm, support and encouragement. It is his profound knowledge an insight, and constant strictness and kind understanding that help us in overcoming difficulties, mastering basic writing skills, an deforming our own ideas, which consequently have enabled me to finish this project. Without his revising for several times, the project would not be what it is now. We are eager to take the opportunity to thank - -------------- and other teachers who have given us guidance, assistance and concern. They have imparted to us so much valuable knowledge, which will befit us a whole lifetime. In addition, we would like to thank family who always support us in whatever conditions. Their encouragement and love give me warmth, strength and confidence, which help us in surmounting so many obstacles and in realizing our dreams. Finally, we give our heartfelt thanks to dear friends and fellow students, who have accompanied us throughout the project.

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15. 22. Executive Summary About Insurance About General Insurance Life Insurance and India Indian Contract Act 1872 Working of Life Insurance About Bhari AXA Insurance Features Bhari AXA Insurance Bharti Group Market share Structure of Bhari AXA Insurance Marketing Team Structure Descriptions of few products Carriers in Bharti AXA Insurance Marketing TELE-Marketing Result from Calling Channel Marketing Procedure of getting Insurance Recommendations Bibliography Annexure ( Questionnaire For Comparision ) 04 04 05 06 08 12 13 14 15 17 18 19 19 21 23 24 24 25 26 27 28 29 EXECUTIVE SUMMARY Monopoly of LIC has been broken to make Indian Insurance to change its face and pace to tap the market and to make the new challenges in it. 13. 17. 14. 11. 7. 10. 12. 3. 4. 5.1. 20. . 2. 16. 6. 9. 21. 18. 8. 19.

Insurance is a contract whereby in return of the payment of the premium by the insured the insurers pay the financial loss suffered by the insured as a result of the loss by the unforeseen events. BAJAJ (Indian company) + Allianz (foreign player). Our project is to understand the different marketing strategies adopted by the companies to increase their market share and along with it meeting their own targets to achieve the position of no. it is an open sector for the private players. The name which we would see in Indian insurance market is something like: . Insurance is a pool where large number of people exposed to similar kind of risks makes contribution to the common fund out of which the losses suffered by the unfortunate few due to accidental events are made good. Under the plan of Insurance a group of people are brought together and their share of money is pooled to manage the loss suffered by any of them. Companies now are tapping a lot of ways to capture the market and hence adopting different ways to hold the large portion of the market.Bharti (Indian company) + AXA(foreign player). The amount of payment depends on the size and type of loss. About Insurance:Insurance may be defines as social device to protect the economic value of the Life and other assets. TATA (Indian company) + AIG (foreign player) and so many like them.Insurance in India is not about India only. Evaluation of Risk 4. Characteristics of Insurance:1.1 in respective field or segment of the market. Payment on event of happening of any special event 5. The sharing of risk among large group of people is the basis of insurance. The term “risk” is used to define the probability of loss. Cooperative device 3. . Sharing of Risk 2.

Ltd  ICICI Lombard General Insurance Co. Ltd  Bajaj Allianz General Insurance Co. Ltd  United India Insurance Co. Ltd  Reliance General Insurance Co. Insurance is a business which spreads the loss and the risk of few people in the large number of people. General Insurance is a sector which alone has many type of insurance coverage in it like Fire Insurance. Ltd  Oriental Insurance Co. this includes loss of asset against water. earthquake etc. With the entrance of the new private player market innovative technique has been introduced to capture the market.  HDFC Chub . In general Insurance around 17% of the market has been captured by the private players. Ltd  Tata AIG General Insurance Co. Ltd  IFFCO Tokio General Insurance Co. Insurance is divided in two basic zones:1. The Non Life Insurers  National Insurance Co. 8. Engineering Insurance etc. 7. Ltd  New Indian Assurance Co. Marine Insurance. Life Insurance About General Insurance:Insurance of the non life assets are called general insurance. The success of Insurance business depends on the law of large number of people insured against similar risk. fire. Ltd  Bharti Axa General Insurance Ltd. General Insurance 2. Liability Insurance. Ltd  Royal Sundaram Alliance Insurance Co. With the desertification in the Indian Market in General Insurance the monopoly of the general Insurance public sector’s companies has been broken. motor Insurance.6. The insurance is a plan in which insured transfer his risk to insurer.

The Indian Life Assurance Company enacted the first law to regulate the life insurance business in India . This was formed to rethink upon opening the insurance sector for the Private players again but along with that to have a check upon those private players an IRDA has to act as a governing body to safeguard the interest of the public whose money is involved in it. that is why government intervened in between to protect the interest of the mass and to safeguard the money involved in it. Then due to no interference of government in it. The evolution of Insurance in India can be summarized as:Year 1818 1870 1912 Changes Oriental Insurance Company. From the beginning of Insurance in India till now a lot of changes have been made but the most significant change was in 1999. 26%. and Oriental Insurance Company was the first Insurance Company who did Insurance for the Indian in 1818 and was established in Calcutta nowadays Kolkata. All private companies were took over by Government and Insurance market was turned to Public sector and Life Insurance Corporation of India was formed in 1956 to make the Insurance reachable at remote areas and that even by low premiums or better said as affordable premium so as to secure their life. The modern concept of Insurance was brought by Bruisers in India.e. Since then Insurance sector is on the boom and business is flourishing and a lot of private players are coming into business. when IRDA was formed. To control that IRDA has set a limit of FDI i. from the year 2001 insurance sector was opened for the private players too. IRDA means Insurance Regulatory and Development Authority. First Indian Insurance company. private market players ruled the market as they want to.Life Insurance and India:Life Insurance in India existed from long time. Here the private players doesn’t indicate to Indian Private Companies but also foreign players are also involved in it. From that time i. The first Insurance company in India Bombay Mutual Life Assurance Company.e. but to manage the money flow in and outside the country IRDA takes care of the contribution of the money by foreign partners of private insurance companies.

Kotak Mahindra Life Insurance 8. HDFC Standard Life Insurance 11. . The earlier legislation consolidated and amended the life insurance act with the objective of protecting the interest of insurance in the public. Reliance Life Insurance 9. Birla Sun Life Insurance 12.. ICICI Prudential Life Insurance 3. TATA AIG Life Insurance 4. Bajaj Allianz Life Insurance 2. Max New York Life Insurance 5. AVIVA Life Insurance 6. ING Vysa Life Insurance And so on. And nationalized The number of companies in Insurance particularly in Life Insurance has changed drastically now the number is in 17. Bharti AXA Life Insurance 7. 1956 245 Indian and foreign players and prudent societies are taken once by Central govt. List of them are mentioned as below:1..1926 1938 The Indian Assurance company act enacted to enable the government to collect the statistical information about the insurance. Sahara Life Insurance 13.. SBI Life Insurance 10.

Let’s make a brief note on that for a better understanding:Policyholder: . Legality: .There should be the valid consideration against the insured property in terms of the premium to b paid by the consumer. 5.Indian Contract Act 1872 Life Insurance contracts are the one which has to fulfil the requirements of the Law of Contract as per the Indian Contract Act 1872. .there should be the legality of contract as it should be legal in nature and must be brought for the lawful consideration. Above details have some technical words like Insured.There should be the offer by the customer in form of proposal form and Acceptance by the Insurance Company. 3. Capacity to contract: . Agreement between the parties: .There should be consensus on the both side of the parties. Consideration.The one who pays the premium against policy Insured: . Insurer. 2.The one who is insured against risk by insurance company. 4. and Premium etc. Offer and Acceptance: . Essential Features:1.The Insured should have the capacity to perform the contract as that he a?) He should be of sound mind b) he should not be abided by law to go for any contract c) he should be major that he should have the age minimum to 18. Indian Contract Act 1872 implies: A contract must have certain essential features in order to make it legally valid and enforceable.

Insurer: .The doctrine of subrogation is a corollary to the principle of indemnity and applies only to fire and marine insurance. Contribution:. the principle of contribution comes into play.:.e. Indemnity:. all rights and remedies which he has against third person will pass on to the insurer and will be exercised for his benefit until he (the insurer) recoups the amount he has paid under the policy. A husband can take policy for his wife. The aim of contribution is to distribute the actual amount of loss among the different insurers who are liable for the same risk under different policies in respect of the same subject matter. These principles are:- Utmost Good Faith: . Without insurable interest no insurance can be provided. Subrogation:. .The amount against continuance of the insurance P. If the proximate cause of the loss is a peril insured against. Any one insurer may pay to the insured the full amount of the loss covered by the policy and then become entitled to contribution from his co-insurers in proportion to the amount which each has undertaken to pay in case of loss of the same subject-matter. It is applicable on the proposer that all the contents which are filled and signed by him on the proposal form are true as per his knowledge.The prinviple of indemnity is an insurance principle stating that an insured may not be compensated be the insurance company in an amount exceeding the insured's economic loss.It means that the property or life which is to be insured the proposer has the legal rights upon that. when an insured has received full indemnity in respect of his loss. Insurable Interest: .The rule of causa proxima means that the cause of the loss must be proximate or immediate and not remote. Insurance Company. Apart from the Legal Structure of the Insurance Contract there are some principles in Insurance Industry on which every company works on.The one gives the insurance i. Premium: .Where there are two or more insurance on one risk. In life insurance term legal rights on life means to prove the blood relation. the insured can recover.S. According to it.Policyholder and Insured can be same person and can be two individuals even. Causa Proxima:.It is also termed as Uberrima Fides.

2.There should be the proper assessment of the risk so as to charge the correct and legible premium to insure the subject matter of insurance. If asked we should know the benefits of the insurance and that can be known by knowing the function of the insurance. Provide protection: . SECONDARY FUNCTION:1. just as any prudent person would do in those circumstances.Small capital is demanded to cover the risk of the large capital.Insurance cautious businessman and individuals to adopt suitable device to prevent unfortunate consequences of risk by observing safety instructions.In the event of some mishap to the insured property. PRIMARY FUNCTION:1. Collective bearing of loss: . 2. the insured must take all necessary steps to mitigate or minimize the loss.As the losses appear from the uncertainty so Insurance Company would have to provide the certainty of absorbing the loss so as to protect the insured under the risk in which he has been insured. 3. OTHER FUNCTION:- .Insurance Company would have to accept the loss and give respective claims as for the sake of contract that has been done between the company and the insured. Provide the certainty: .Mitigation of Loss . 4.As risks controlling is not in the hands of anyone completely that is why Insurance Company provides the risk protection. Small capital to large risk: . Prevent Loss: . Assessment of Risk: .

In India it is in a growing stage in compare of the other countries lets’ have a look on it:United Kingdom Japan Korea United States Malaysia India China Brazil 8.0% 1.3% 4.1% 3.9% 8.8% 1.3% If we talk in terms of India only then the result will be something like this:- .6% 3.It is a means of savings and investment apart from it its share in the GDP counts very important.3% 7.

Speculative risk is the one which truly resembles gamble. . Therefore these risks are not insurable in nature. These risks are insurable in nature. Steps involved in selecting the Risk Management are:• • To identify all the things that can be possibly wrong. Speculative Risk:Event representing there will be possibility of loss or no loss is called pure risk. Approaches to Risk Management:Risk Management is the process of minimising the risk due to unforeseen events.Working of Life Insurance: Risk has to be assessed in order to decide tithe premium or to decide that subject is insurable or not. To consider possibility that an event can occur. Pure Risk vs. There is the possibility of loss or gain and wherever there is a chance of making profit there insurance cannot exist.

one of India’s leading business groups with interests in telecom. The following quote from their website and other press media did make a connection to what we got as an answer to one of the questions about their expansion strategies and customer acceptance. world leader in financial protection and wealth management. Transfer of Risk: . 2.:Bharti AXA Life Insurance is a joint venture between Bharti. . and AXA. 4. Reducing the Risk: .Techniques toward the Risk Management. Eliminate the Risk: .Risk can be minimized by transferring the risk of loss to any other person which is a true form of the INSURANCE.Risk can be managed by avoiding it as when the perils will come then it will be managed.Risk can be reduced by handling them in a systematic manner. agri business and retail. Avoiding the Risk: . 3.Risk can be managed by eliminating the cause of the loss.1. The joint venture company has a 74% stake from Bharti and 26% stake of AXA Asia Pacific Holdings Ltd (APH). About Bharti AXA Insurance Ltd. The company that launched its national operations in December 2006 has over 3000 employees across over 12 states in the country and their business philosophy is built around the promise of making people "Life Confident".

Insurance Act 1938 passed • 1956 .6 % and 7.Life Insurance Sector regulated .Indian Life Insurance Companies Act enacted. we continue to bring 'life confidence' to customers spread across India.Establishment of first Indian Life Insurance office Bombay Mutual Assurance Society • 1912 . 1938 .4 % respectively."As we expand our presence across the country to cater to your insurance and wealth management needs with our product and service offerings.Life Insurance Nationalized through Life Insurance Corporation of India Act . you can be confident that Bharti AXA Life will offer the right financial solutions to help you achieve them" The Bharti group is very popular across the length and breadth of the country as leading cell phone service provider . Also marketing message and bundling could very well be done with the backing of Airtel.Airtel and if marketed as Airtel Insurance.LIC becomes a State monopoly . people easily recognize the brand name. Bharti AXA has the challenges of second wave entrant while it has the advantage to learn from the existing players and enjoy the already created insurance awareness. The market as of 2006. Whatever your plans in life. Features : Following are some of the milestones • 1870 . is dominated by LIC with 63 % share while ICICI Prudential and Bajaj Allianz are leading private players with market shares of 10.

50 % of the assets to be invested in Government Bonds and 15 % in Infrastructure bonds leaving only 35 % for the fund managers to creatively manage.14 companies offering life insurance .Opening of the Insurance sector for private players. Contributes 4. Presently Foreign Direct Investment (FDI) is permitted upto 26 % • 2005 .198.466.one dominant nationalized player and 13 pvt companies • 2006 .127 4. Rs. Some of the interesting facts about Life Insurance Sector in India 1. Total number of lives insured and on books as of March 31.1 % of India's GDP 2. none of the private players are profitable yet.• 2000 .15 private sector companies . It is typically known to be a 6 year period and with the opening up of this sector only in year 2000. The insurance products by Bharti AXA Life Insurance Company Ltd include: o o o o o Wealth Confident Future Confident Future Confident II Secure Confident Save Confident . A statutory requirement exists to reach rural areas There are certain restrictions on how the assets are allocated and how the profits are to be shared and this underpins the time to return to profitablity for the private players.2 wholly Indian owned. This makes it ever more challenging for Bharti AXA which is the newest player in the market. Second largest financial service after banking 3. 2006 .496 billion is the total Assets under Management of Life Insurance Corporations 5. As of same date above. 5.

Bharti AXA Insurance Company. DTH service named Airtel Digital TV . Buoyed by its experience & success in distribution & marketing as well as the changing sphere of Indian economy. Bharti AXAInsurance Bharti-Tele Tech Ltd Bharti AXA Investment Managers Bharti Tele Soft Bharti Resources Bharti Foundation 1. 2. :. Airtel also offers mobile services in Sri Lanka on a state-of-the art 3. financial protection. Bharti-Tele Tech Ltd : Bharti-Tele tech currently commands a leading share in retail as well as the telecom service provider segments. Bharti AXA Group:Bharti Airtel / Airtel Ltd. Broadband & IPTV. wealth management and financial services. Fixed Line services.o Invest Confident Each life insurance or general insurance product of Bharti AXA Life is named confident as they believe in making each customer 'Life Confident' giving them the assurance that the future of their loved ones is financially secure even in their absence. the . The Company is India’s largest integrated telecom company in terms of customer base and offers Mobile Services. Bharti AXAInsurance :.5 G network. Bharti Airtel Ltd.Bharti Airtel Ltd is one of Asia's leading telecommunications service provider. is a leader in life insurance products. India. Long Distance and Enterprise services. 3.

keeping tomorrow in check while tracking a dynamic today. JCB. Among the top 3 global providers of integrated VAS solutions in rapidly growing markets. Everest Industries and AXIS Sales etc. CEAT. 6. Deutsche Bank. LG. 2000. Bharti Resources :.Bharti AXA Investment Managers Pvt. which provides end-to-end learning and skill.building solutions for the Bharti Group companies and several large corporates. is a joint venture between Bharti Ventures Limited . Bharti Foundation :. Maruti Suzuki. Besides. with our professional fund management taking care of your imperative financial needs. 7. 5. Bharti Telesoft has deployed solutions for over 100 mobile operator customers in over 70 countries worldwide. HCL.Company plans to offer a high range of products to the consumers. Genpact. Ltd. Bharti Foundation is an organization established under the Laws of India with charitable status pursuant to a "Deed of Trust" dated August 7. We focus on excellence and performance. 2000. going forward. AXA Investment Managers (AXA IM) and AXA Asia Pacific Holdings (AXA APH) (through NMIPL). PepsiCo. Blue Dart.Bharti Learning Systems is a wholly owned subsidiary of Bharti Enterprises.Bharti Tele soft is the leading provider of integrated VAS solutions for mobile operators in emerging markets. . 4. Bharti AXA Investment Managers :. customer profitability and effective talent transformation. Bharti Tele Soft :. Cummins. registered at New Delhi on August 25.one of the foremost business groups in India. Motilal Oswal. Kaya.Bharti Foundation. the philanthropic arm of Bharti Enterprises was established in 2000 with a vision "To help underprivileged children and young people of our country realize their potential". It provides solutions that impact business performance through enhanced employee productivity. Bharti Learning partners a host of leading organisations such as American Express.

13.23 1. Insurer Bajaj Allianz ICICI Prudential Bharti AXA HDFC Standard Life SBI Life Birla Sun Life Tata AIG Max New York Aviva Kotak Mahindra OLD Mutual ING Vysya Reliance Life MetLife Sahara Life Shriram Life Market Share (%) 7.03 . 7.56 7.Market Share If we look at the status of Bharti AXA Life Insurance’s market share in comparison of other private company in comparison of premium earned:No 1. 3.79 0. 10.10 2.14 1. 9. 12. 6.11 0.31 1.35 4. 8.89 1.54 0. 4. 14. 2.87 2. 15. 5. 11.29 1.40 0.06 0.

MR.Shyamal Saxena Its hierarchy in Bharti AXA Life Insurance is like this:- Marketing Team Structure: . Sunil Bharti Mitta CFO :. Chief Operating Officer :.Mr Milind Chalisgaonkar.Tim Thomas Director – Human Resources :.Priya Ranjan Chief Distribution and Marketing Officer :.Structure of Bharti AXA Insurance Ltd.:Managing Director & Chairman : .

Bharti AXA Life Bright Stars provides a launch pad for your child’s bright future. Bharti AXA Life Spot Suraksha :- Spot Suraksha helps us to create a pool of wealth to meet your long-term needs. with an added advantage of simplified buying process. Bharti AXA Life Insurance’s unique pension product ensures that our retirement life is your Dream Life. c. Bharti AXA Life AspireLife :. What else. Individual Plans : a.A Unit Linked Pension Product. which enables your child to explore more career options.A Unit Linked Child product. while also . b.Few Products :1. Bharti AXA Dream Life Pension :. Dream Life Pension. we also have Jumpstart benefit which is paid out at maturity along with Policy Fund Value. d. Aspire Life helps us to create a pool of wealth to meet our long-term needs. Bharti AXA Life Bright Stars :.Unit Linked Endowment Product.

and protection for your family. The thought of unfortunate events befalling us may cause us anxiety about providing a secured happiness to our loved ones.our changing lifestages decide our financial milestone planning. so when it comes to making an investment decision. g. we would expect the best from it too. h. we have always strived hard to achieve the best for us and your loved ones. 2. Bharti AXA Life SaveConfident :- Traditional money back insurance product for long term savings. all of us desire to maximise the happiness for our family at all times.providing us adequate protection in case the need arises. When we foresee intermittent financial requirements in the years to come. liquidity becomes a key aspect of your planning along with long term savings. e. irrespective of the circumstances. your status ensures that we get preferential status wherever we go. i. Bharti AXA Life FutureConfident :- A unit-linked policy which offers comprehensive protection along with wealth creation in the long term. Bharti AXA Life InvestConfident :- Unit Linked Single Premium Product. Bharti AXA Life WealthConfident:- A unit-linked investment cum protection policy. f. our wealth. like regular expenses related to our child’s education. Group Plans : . Bharti AXA Life SecureConfident :A Long Term Life Insurance.

providing comprehensive protection against 6 critical illnesses. e. Bharti AXA Life – Sanjeevani :- Sanjeevani is a single premium group term life insurance product. b. d.Mortgage Credit Shield is a Group Product that provides coverage to people who have availed of a Mortgage\ Home loan\ Home equity loan from an Institution/Bank.Swasthya Sanjeevani is a single premium group critical illness product. Bharti AXA Life Mortgage Credit Shield :. Bharti AXA Life Credit Shield :- Credit Shield is a Group Product that provides coverage to people who have availed of a loan for 1 to 5 years from Group Policyholder. offering protection to your family.a. Bharti AXA Life – Swasthya Sanjeevani :. . Bharti AXA Life Life Shield :. c.Life Shield is a single premium group term life insurance product.

development. team spirit. which helps employees to make a connection between their contribution and the progress made by the Company. To have clear performance expectations and a clear return from the Company (working environment. To inspire and empower people to achieve their best and reward them competitively for their contribution and provide attractive career opportunities. pragmatism. reward. career opportunities etc). To build a learning culture which fosters personal development and professional mobility and upholds values of professionalism. their diversity and support them in their need to balance professional and personal lives.Carriers in Bharti AXA Insurance :Talent Engagement objectives: • • • • To create an emotional commitment and strong two-way relationship between the employees and the Company. • "Core Job Functions" in following categories . To respect and value individuals. innovation. integrity.

Training & Development Marketing:- .• • • • • • • • • • • Sales & Distribution Marketing & Communications Product Development. Underwriting & Acturial Operations Management Claims Management Risk Management Program Management Finance & Accounts / Legal Administration & Facilities Management Information Technology Human Resources.

” Marketing is a social and managerial process by which individuals and groups obtain what they need. products (good. exchanger and transactions. cost and satisfaction. offering and exchanging of products of value through other. services and ideas). This definition of marketing rests on the core concepts like: needs. value. NATURE OF GOOD MARKETING THAT IS WHAT BHARTI AXA INSURANCE BELIEVES IN. wants. Bharti AXA always expressed itself as always close to Customers with the help of:• • • Ads Merchandising Corporate Stationery . want through creating. markets. marketers and prospects. relationships and networks. a good marketing Kotak adopts different methods for the marketing:Bharti AXA has positioned itself in terms of BRAND POSITIONING as:FINANCIAL FREEDOM: “life’s full of fabulous choices ”.According to Kotler. and demands.

HOT CALLING. Result from Calling:Appointment: . Call Later: .TELE MARKETING: It is a kind of Direct selling. incorrect time to call as the persons busy in meeting or having lunch. which was sometimes for the appointment of the Life Advisors and sometimes for selling the policies.Calling used to turn into the appointment to generate the lead for the business depending upon the motto to call. Mail Brochure: . By different type of calling we used to generate the LEAD for the further business. Cold Calling means Calling to the unknown telephone number for the first time and that even without knowing the respondent.Sometimes responses were that the respondent is not able to talk due to some reasons and they ask to mail the details via e mail. Hot Calling means Calling to already approached person for the further response Objection Handling means to handle the type of objection that may arise while calling. .Responses used to come as to call later because of their busy schedules. which makes the LEAD GENERATION for the BUSINESS. Tele Marketing is marketing the product through telephone. The most important aspect of Tele Marketing is COLD CALLING. or driving or is in roaming area. or it turned into the SALES that are again building BUSINESS for the company. and OBJECTION HANDLING.

Most of the responses turned to not interest the basic reason for that is.Already a customer of Bharti AXA: .If we got the database then problem like wrong number was frequent to observe.little response came as the person is already a customer of the Bharti AXA Insurance. Database Problem: . Not Interested: . in India Insurance are much about telling then asking. CHANNEL MARKETING Distribution Network of Individual Life Insurance Business in India .

Type of Training Required etc has to be mentioned. Should work for only one company 4.Direct selling part includes Tele marketing through advertisements etc. MOBILE NO. Urban area means the area having the population above 5000 persons. Life Advisors is the name given to the traditional “Agent” which we often hear. Simply all those information has to be there which are necessary to be known to the company so as to decide the potential of the Proposer to bring the business to the company. banks. Procedure of Getting Insurance :First of all PHF form has to be filled along with it necessary document has to be attached:PHF means Personal History Form in which NAME. 1.. Person has to be major 2. ADDRESS. and should be 12th passed if going for the urban area. 1938 has to be fulfilled. . Other channel here means the Corporate Agents. Then basic requirements as per the rule of the Insurance Act. Should be of sound mind 3. Life Advisor is the one who can sell the insurance product of only one company and commission is what he earns in reference to the business provided by him. Channel development’s most important aspect is Life advisor so we should know the process of recruiting the life advisor. Should be 10th if going for rural area. selling through Franchisee etc. are the parts of the channels which create business for the company. Brokers are the one who can sell the insurance product of a lot of company and is appointed by the company but works for the individual and earn brokerage through company.

Bharti AXA life is the theme that is opted by the Bharti for its employee CPI = FOS*% active * Average case size * Average case rate CPI: Cash Premium Income FYP i.5. Rewards and recognition has 5 levels in it:- . 7. FOS: Feet on Street. Sales are source of it and source of sales is Life Advisors. Copy of PAN Card has to be attached. of Active Life Advisor In it different training modules is designed at different levels of life advisors. Percentage active: It is that how many policies the life Advisors have sold or in a better manner we can say that active is the one who sells at least one policy in a year. Average Case Size = TOTAL PREMIUM / no. of policies Average Case Rate = Total policies/ No. First Year Premium excluding the renewal premium is CPI of the company. Should have residential proof 6. And then the most important aspect that person will have to go for the 50 hours training and will have to secure 50% marks to pass the examination conducted by III (Insurance Institute of India) in behalf of IRDA to get the licence to do the policy and earn the commission out of the work done. Should have identity proof.e.

. • Awareness Camp to the sub urban area should be focussed by kotak. FM is suggested here because the people who can drive the private life insurance is the youth. • Infrastructure has to be built properly because an office is the face of the company.RECOMMENDATIONS:• Some more motivation to the employees over there is needed. • Networking is needed to be made broad as the number of branches with KotakLife is only 75 and the 7 states has been touched by the company so there is a huge untapped market available for the Kotak. • Tele marketing need to be focussed much. and FM is something on which youngsters look upon too. • Marketing in terms of the media via advertisements on Televisions to small commercials on FM has to be made because there were respondents in our survey who even haven’t heard the name of KOTAK Life Insurance.

findarticles.managementparadise. Business world Outlook Business Business Today Webliography:- 1.indiatimes.com 5. THE HINDU 3.• Apart from the Brand Positioning in urban area.com 7.google.com 2. or high aspirant people because they are the main source of the business in India.insuranceworld. 5.www.com 4. a strategy should be adopted by Kotak to make its brand also near to middle level.www. www. Blogs by admin .org 6. The Economic Times 2.com Other sources:1. 1. TIMES OF INDIA 2. www.www. www.bharti.wikipedia.com 3. 4. www.

A. 2 Lakh to Rs./Mrs./Ms.L.A.ANNEXURE Questionnaire For Comparision Basic Information Name : Mr. 5 Lakh Rs. L. Other --------------------------Annual Income of Household : Up to Rs. 2 Lakh Rs.B. M.: -----------------Age : -------------Occupation : ----------------------Designation:---------------Education : Graduate Post Graduate Non-Graduate Professional : Doctor Engineer C. 5 Lakh to Rs. 8 Lakh Above Rs. ---------------------------------------No. 8 Lakh Address :---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Phone .B.

Does your Insurance Provider fulfils all your expectations regarding Insurance Policies? Yes No If no. Which company’s Insurance Policy you have ? Bharti AXA Bajaj Allianz SBI Life Max NY Life Birla Sunlife ICICI Prudential Life HDFC Standard Life Avira Life LIC India Reliance Life Health Others :--------------------------------------------6.1. What are your investment objectives ? For tax saving High return For old age Child’s future Others :---------------------------------3. Do you have any Insurance Policy ? Yes No 4. Are you an active investor ? Yes No 2. state the reasons :------------------------------------------------------------------7. Are you willing to invest in same Insurance Provider in future ? Definitely Yes Can’t Say Yes . What kind of Insurance Policy you have ? Life Children 5.

Definitely No No 8. as your Insurance Provider ? Definitely Yes Can’t Say Definitely No Yes No . Will you choose Bharti AXA Insurance Ltd.