Group Members

1. Indu Shekhar 2. Sumit Kumar 3. Ram Naresh Shukla 4. Ashutosh Singh 5. Sandeep Soni 6. Varunesh Tiwari

COMPANY PROFILE

Allianz SE

Bajaj Allianz
Bajaj Finserv

Mission & Vision

VISION

To be the first choice insurer for customers To be the preferred employer for staff in the insurance industry

To be the number one insurer for creating shareholder value As a responsible, customer focused market leader, we will strive to understand the insurance needs of the consumers and translate it into affordable products that deliver value for money.

MISSION

TYPE OF INSURANCE
Life

Insurance

Motor
Health

Insurance
Insurance

Travel
Home

Insurance
Insurance

SWOT ANALYSIS
Strength

Global exposure in Insurance through Allianz SE and Strong Local Implementation by Bajaj Its network across 200 towns Fundamentally Strong with good paying Capabilities Allianz AG is an insurance conglomerate globally and one of the largest asset managers in the world, managing assets worth worldwide with 115 years of financial experience in over 70 countries.

Weakness

Lack of penetration in rural areas Smaller Infrastructure as compared to established players

Contd.
Opportunity

Growing rural market potential

Urban Youth with growing income

Threats

Economic crisis and economic instability

Increasing awareness amongst people about securing their future

PROJECT OBJECTIVE
To

know the consumer responses and behavior about Bajaj Allianz life insurance policy and know the benefits of insurance. the process of insurance sector

Observe

IMPORTANCE OF INSURANCE

Insurance constitutes one of the major segments of the financial market. Insurance services play predominant role in the process of financial intermediary. Today insurance industry is one of the most growing sectors in India. There is lot of potential in the Indian Insurance Industry.

The scope of the study of Insurance industry of India would be very great as there are ongoing developments in the industry after the opening of the sector.

PROCESSES
Contact Customer Create relationship with customer Make customer

Sell product to the customer

create satisfaction in the customer

BENEFITS OF LIFE INSURANCE

Risk cover Tax Deduction Loans Retirement Planning

Educational Needs

LEARNINGS

Most of investors not fully aware about Life insurance policies and their advantage. It was found most of the investor prefer, less risk taking saving scheme or fixed deposits. Some of the people, who were related to rural area, did not know about facility for investment of money in Life Insurance Policy schemes. The investors were interested more in Policies of LIC because it is a Government body.

SUGGESTIONS & RECOMMENDATIONS

Semi Urban Market as there is a lot of opportunity. So they have to increase their market size they have to open more distribution centers at the various urban and semi-urban markets. The company always should have proper communication with its front office as well as back office workers to increase the morale and productivity. The insurance manager always should proper communication with the customer. They have to give proper information related to policy.

Contd

The company should always have proper planning for gifts/incentives for employees on various occasions or on competitions.
Premium and economical class of services should be launched by the company to serve the varied nature of customers. Service cum awareness camps should be run by the company in remote areas. Distribution channel needs more strength. Improvement in services through feedbacks from customer is recommended