A

PROJECT REPORT

ON
STUDY & PROMPTION OF INSURANCE
POLICIES OF

THE COMPANY

{Submitted to partial fulfillment for the degree

of bachelor of business
administration under the CCS
University.}
(Batch 2007-2010)

Submitted to:-
Submitted by:-
Pooja rastogi
Kaljayee narayan singh
IMS Faculty
Roll no: - 9351617
Ghaziabad
Group: - B
Semester- V

Company
profile

“Bajaj Allianz General Insurance

Company Limited”

Bajaj Allianz General

Insurance Company Limited is a joint venture between Bajaj
Finserv limited (recently emerged from Bajaj Auto Limited)
and Allianz SE. Both enjoy a reputation of expertise, stability
and strength.

Bajaj Allianz General

Insurance received the Insurance Regulatory and
Development Authority (IRDA) certificate of the Registration
on 2nd may, 2001 to conduct general insurance business
(including health insurance business) in India. The company
has an authorized and paid up capital of Rs. 110 crores. Bajaj
Finserv Limited holds 74% and the remaining 26% is held by
Allianz, SE.

As on 31st march 2008,

bajaj allianz General Insurance maintained its premier
position in the industry by garnering a premium income of
Rs. 100 croces marks in profit after tax by generating Rs.
105 crores.

In the first quarter of

2008-09, the company garnered a gross premium of Rs.
733.53 crores against Rs. 573.73 crore last year for the same
period registering a growth of 28%.

Bajaj allianz today has a

country wide network connected through the latest
technology for quick communication and response in over
200 towns spread across the length and breadth of the
country. From Surat to Siliguri and Jammu to
Thiruvananthapuram , all the offices are interconnected with
the head office at Pune.

Research Methodology

Research methodology ma be
treated as the heart of the projects. Without a proper and
well-organized plan it is impossible to complete the projects
and draw conclusive and prepare result.

This project was based on survey

plan. The main objective was to collect the appropriate data,
which works as a base for drawing conclusion and getting
result.

Research methodology is a
systematic way, which consists of series of action or steps
necessary to effectively carry out research and the desired
sequencing of those steps.

The marketing research is process of

involve number of inner related activities, which overlap and
rigidly follow a particular sequence. It consists of the
following steps.

A. formulating the objectives of the study.

B. designing the methods of data collection

C. selecting the sample plan.

D. collecting the data .

E. processing and analyzing the data.

F. reporting the findings.

Data collection and

presentation

There are two methods

available for data collection. One is OBSERVATIONAL method
and second is SURVEY method. Once the decision in fever of
collection of primary data is taken, one ha to decide the
mode of collection.

Observation method
suggest that data collected through one’s observation and
while in survey method field surveys are commonly used to
collect the primary data from the respondents.

In my research I use survey

and observation method both. I have done survey with the
help of Direct Personal Interviews to get the detailed
information about my problem of research and for this
purpose I prepare a structured Questionnaire to elicit the
necessary data from the respondents.

Collection of primary data

This was an exploratory
research projects. The information required for fulfilling the
objective was collected from both primary and secondary
sources. The primary data was collected using questionnaire
and a short interview as also conducted to know various
factors from consumers.

Collection of secondary data

Secondary data means data
that are already available. They refer to the data, which have
already been collected and analyzed by some one else.
When the researcher utilized the secondary data, than he
has to look into various sources from where he can obtain
them like as Books, Magazines, newspaper and internet etc.
Out of it INTERNET is one of the most important major
sources for secondary data.
 Preparing Questionnaire

The method of data collection

through Questionnaire is very popular. In a Questionnaire a
number of question are typed in a defined order on a form or
set of forms.

In my Questionnaire I had used

separate Questionnaire for Retailer and consumer and
having quality of a good Questionnaire. For Example I used
both close ended and open ended questions and make the
Questionnaire in the sample language starting with easy
questions.

Data analysis
In order to a achieve the objective, all the prospective
customers (n=100) are analyzed the means of a
Questionnaire called need analyzer which include all the
personal and financial facts of the customer.
 Findings
My research on life insurance
products deals with the study & promotion of Insurance
policies of the company.

With the help of this report

company will create awareness of insurance products in
people by analyzing their needs, handling their objections
regarding insurance and their offering right product to them.

This project will also help the

companies to strengthen its base in the city and enhance
customer satisfaction by providing better service. It will also
help to generate more sales and profit. Thus, it helps in
increasing the turnover of the companies and lead to better
customer satisfaction.

With the help of the

project we came to know that there are some important
factors and attributes which affect insurance buying. People
are not well aware of this sector and they normally have lot
of objections before buying a policy.
 Recommendatio
n
These are the following recommendation which I want to
suggest:-

A. Insurance is a business of credibility. As we in service

marketing proper care of the customers after and before
buying the product is an important criterion of competing in
the market. So proper customer Relationship Management
Program should be adopted by the company.

B. As we know nearly 70% of the present country’s

population belongs to rural areas and our company has its
bases in urban area only, the company should take majors to
tap the rural market too. However, the company should also
look for the lover middle class income segments of the urban
areas also.

C. Bajaj Allianz Life Insurance Corporation lack proper

advertising and sales promotion tools. Hence, it should look
for these areas in order to achieve its aspiration of being in
top 5 insurance companies in India.

TABLE CONTENTS OF THE

PROJECTS
Executive summary……………………………………………………
………...
Objectives of the Study…………………………………………………
……….
Insurance sector in India………………………………………………
………..
A brief History of the insurance sector……………………………
……………...
Major policy change……………………………………………………
………
Insurance companies……………………………
….................................................
Protection of the interest of policy holders………………………
……………….
Bajaj Allianz Life Insurance Team……………………………………
…………
Company’s Vision………………………………………………………
……....
Company’s values………………………………………………………
……...
Performance………………………………………………………………
…
Market Share of few Major Player’s…………………………………
…………
Pie-chart showing Market share ……………………………………
…………
You and your Dream……………………………………………………
…….
Our solution………………………………………………………………..
Eligibility…………………………………………………………………..
Your Option………………………………………………………………..
Choose the Investment Fund…………………………………………
………
Premiums…………………………………………………………………
…
Investing your premiums………………………………………………
………
Research methodology…………………………………………………
………
Recommendation ………………………………………………………
…….