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INSURANCE AWARENESS IN EDUCATIONAL INSTITUTIONS With reference to FUTURE GENERALI INDIA INSURANCE Co.

Ltd, Visakhapatnam

A Project Report submitted in partial fulfillment of the requirement for the award of MASTERS DEGREE IN BUSINESS ADMINISTRATION

By UTTIYA SEN GUPTA (Roll No: 1225112155) Under the Guidance of Dr.U.V. Adinarayana Rao

GITAM INSTITUTE OF MANAGEMENT GITAM UNIVERSITY (Established U/S 3 of UGC Act, 1956) VISAKHAPATNAM (2012-14)

Certificate by the company on their letter head

This is to certify that UTTIYA SEN GUPTA, MBA student (Enrollment No 1225112155), GITAM Institute of Management, GITAM University has done the project from 03 May 2013 to 12 June 2013 on Future Generali India Insurance Co. Ltd in our Organization for submission in partial fulfillment for the award of Post Graduate Degree of Master of Business Administration by GITAM University and his/her work has been satisfactory.

ACKNOWLEDGEMENT

It is my pleasure to acknowledge and express my gratitude to all those who helped me throughout in the successful completion of this project. I am very thankful to Sri. S.Rajesh,Branch Manager of Future Generali India Insurance (Visakhapatnam) Co. Ltd, Waltair Uplands, Visakhapatnam, for extending support throughout the project. I wish to express my gratitude to Prof K Siva Rama Krishna, Dean & Principal, GITAM Institute of Management, GITAM University, Visakhapatnam, for giving me this valuable opportunity to experience the work culture in an organization. I am grateful to Prof U.V. Adinarayana Rao, GITAM Institute of Management, GITAM University, Visakhapatnam for his/her continuous guidance to accomplish this project work, successfully.

UTTIYA SEN GUPTA 1225112155

DECLARATION

I, UTTIYA SEN GUPTA a student of Masters of Business Administration (M.B.A.), GITAM Institute of Management (GIM), GITAM University, hereby declare that the project work initiated on Insurance Awareness In Educational Institutions at Future Generali India Insurance Co. Ltd is a genuine work done by me in partial fulfillment for the requirement of the degree of Masters of Business Administration. I confirm this has not been published or submitted elsewhere for the award of any degree in part or in full.

UTTIYA SEN GUPTA Date:

CERTIFICATE

This is to certify that the project Report titled Insurance Awareness In Educational Institutions is an original work carried out by UTTIYA SEN GUPTA (Enrollment No 1225112155), under my guidance and supervision, in partial fulfillment for the award of the degree of Masters of Business Administration by GITAM Institute of Management, GITAM University, Visakhapatnam. This report has not been submitted to any other University or Institution for the award of any Degree/Diploma/Certificate.

Signature of Guide Name and Address of the Guide: U. V. ADINARAYANA RAO Program coordinator, MBA GITAM Institute of Management Visakhapatnam

Chapter -1 Introduction to Insurance


Insurance may be described as a social device to reduce or eliminate risk of life and property. Under the plan of insurance, a large number of people associate themselves by sharing risk, attached to individual. The risk, which can be insured against include fire, the peril of sea, death, accident and burglary. Any risk contingent upon these may be insured against at a premium commensurate with the risk involved.

Insurance is actually a contract between two parties whereby one party called insurer undertakes in exchange for a fixed sum called premium to pay the other party happening of certain event. Insurance is a contract whereby, in return for the payment of premium by the insured, the insurers pay the financial losses suffered by the insured as a result of the occurrence of unforeseen event. With the help of insurance, large number of people exposed to a similar risk makes contributions to a common fund out of which the losses suffered by the unfortunate few, due to accidental events, are made good.

Insurance in India
The insurance sector in India has come a full circle from being an open competitive market to Nationalization and back to a liberalized market again. Tracing the developments in the Indian Insurance sector reveals the 360 degree turn witnessed over a period of almost two centuries. A brief history of the insurance sector. The business of life insurance in India in its existing from started in India in the year 1818 with the establishment of the Oriental Life Insurance Company in Calcutta. Some of the important milestones in the life insurance business in India are: 1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life insurance business. 1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical information about life and non-life insurance business. 1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective of protecting the interests of the insuring public. 1956: 245 Indian and foreign insurers and provident societies taken over by the central government and nationalized. LIC formed by an Act of parliament, viz., LIC Act, 1956, with a capital contribution of Rs. 5 crores from the government of India.

The General insurance business in India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general insurance company established in the year 1850 in Calcutta by the British. Some of the important milestones in the general insurance business in India are: 1907: The Indian Mercantile Insurance Ltd. Set up, the first company to transact all classes of general insurance business. 1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum solvency margins and the Tariff Advisory Committee set up. 1972: The General Insurance Business (Nationalization) Act 1972 nationalized the general insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and grouped into four companies viz., the National.

The Generali Insurance Corporation of India:


The entire general insurance business in India was nationalized by General Insurance Business (Nationalization act), 1972(GIBNA). The Government of India (GOI), through nationalization took over the shares of 55 Indian insurance companies and the undertaking of 52 insures carrying on general insurance business. General Insurance Corporation of India was formed in the pursuance of section 9(1) of GIBNA. It was incorporated on 22 November 1972 under the companies act, 1956 as a private company Limited by shares. GIC was formed for the purpose of superintending, controlling and carrying on the business of the general insurance. As soon as GIC was formed, GOI transferred all the shares it held of the general insurance companies to GIC. Simultaneously, the nationalized undertakings were transferred to Indian insurance companies. After a process of mergers among Indian insurance companies, four companies were left as fully owned subsidiary companies of GIC. 1. National Insurance Company Limited, 2. The New India Assurance Company Limited, 3. The Oriental Insurance Company Limited, 4. United India Insurance Company Limited. The next landmark happened on 19 April 2000, when the insurance regulatory and development authority act, 1999 (IRDAA) came into force. This act also introduced amendment to GIBNA and the insurance act 1938. An amendment to GIBNA removed the

exclusive privilege of GIC and its subsidiaries carrying of general insurance in India. In November 2000, GIC is re-notified as the Indian Reinsurance and through administrative instruction, its supervisory role over subsidiaries was ended. With the general insurance business (nationalization) Amendment Act 2002 came into force from march 21 2002 GIC ceased to be the holding company of its subsidiaries. There ownership was vested with Government of India.

General Insurance Public:


1. National Insurance, 2. New India Assurance, 3. Oriental Insurance, 4. United India Insurance, 5. Agriculture Insurance Company of India Ltd.

General Insurance Private:


1. Future Generali Insurance, 2. Bajaj Allianz General Insurance, 3. ICICI Lombard General Insurance, 4. Reliance General Insurance, 5. Alliance Insurance, 6. TATA AIG General Insurance, 7. Export Credit Guarantee Corporation.

General Insurance:

Although efforts were made to maintain an open market for the general insurance industry amending the insurance act of 1938 from time to time, malpractice escalated beyond control. Thus the general insurance industry was nationalized in 1972. The General Insurance Corporation (GIC) was set up as a holding company. It had four subsidiaries: New India, Oriental, United India and the National Insurance companies (collectively known as the NOUN). It was understood that these companies would compete with one another in the market. It did not happen. They were supposed to setup their own investment portfolios. That did not happen either. It began to happen after 29 years. The GIC has a quarter of a million agents. It has more than 2,500 branches, 30 million individual and group insurance policies and assets of about USD 1,800 million at market value (at the end of 1999). It has been suggested that the GIC should close 20-25 % of its nonviable branches (Patel, 2001). The GIC has so far been the holding company and reinsurer for the state-run insurers. It reinsured about 20% of their business. Two Committee Reports: One Known, One Unknown Although Indian markets were privatized and opened up to foreign companies in a number of sectors in 1991, insurance remained out of bounds on both counts. The government (at the time, dominated by the congress party) decided to set up a committee headed by Mr. R. N. Malhotra (the then Governor of the reserve bank of India).

1.

B PERSONAL ACCIDENT POLICY (P. A)

This Policy is issued to you based on Your Proposal to Us and Your payment of the Premium. This Policy records the agreement between us and sets out the terms of insurance and the obligations of each party.

1. OPERATION OF COVER
a. The cover provided by this Policy will only apply during the Policy Period stated in the Schedule. b. The Policy does not provide coverage for any insured person unless he or she at the date of the claim is under 70 (Seventy) years of age. c. The policy will not be valid unless a Schedule signed by one of Our Authorized Representatives is attached.

2. DEFINITIONS
Following words are phrases whenever they appear in italics in this policy wording have special meanings as defined below against each of them:

You, your, yourself We, our, us, insurer Schedule

The policyholder shown in the schedule Future Generali India Insurance Company Limited That portion of the policy which sets out your personal details, the type of insurance cover in force, the period and the sum insured. Any Annexure or Endorsement to the schedule shall also be a part of the schedule. The application (Proposal) from for insurance cover submitted to us along with all information which has enable us in considering whether and on what terms to offer this insurance. The complete documents consisting of the proposal, policy wording, schedule and endorsements and

Proposal

Policy

attachments if any.

Occupation

Occupation of Insured persons as shown in the schedule or as declared to us in the proposal. The period commencing with the start date mentioned in the schedule till the end date mentioned in the schedule. A sudden, unintended and fortuitous external and visible event. Any injury to you caused by an accident which occurs during the Policy Period but does not include any condition which is also a sickness or illness or disease or any degenerative condition provided that the injury results in any of the events specified in the table of events within 12 calendar months from the date of such injury. A qualified medical practitioner holding a valid and subsisting license granted by the appropriate licensing authority and acting within the scope of his license. Means disablement which entirely prevents an insured person from attending to any business or occupation of any and every kind and which lasts 12 months and at the expiry of that period is beyond hope of improvement. Doctor certified total and continuous loss or impairment of a body part or sensory organ specified. Means disablement which temporarily and totally prevents the insured person from attending to the of his usual business or occupation and shall be payable for a maximum period of 100 weeks during such disablement from the date on which the insured person first became disabled. The amount stated in the schedule, which the maximum amount we will pay for claims is made by you in one policy period irrespective of the number of claims you make or the number of years that you have had personal accident policy with us.

Policy Period

Accident, Accidental

Accidental Bodily Injury

Doctor / Physician

Permanent Total Disablement

Permanent Partial Disablement Temporary Total Disablement

Total Sum Assured

Principle sum insured

The highest of the sum insured mentioned for death or permanent total Disability or permanent partial disability benefit. A charge incurred for medical treatment that are medically necessary to treat your condition and not exceeding the usual level of charges for similar medical services in the locality where expense is incurred and excludes any charge that would not have been made if there was no insurance. A legally recognized establishment which holds a valid license to practice medicine and provide for the care and treatment of injured persons, with minimum of 10 beds, one or more physicians available at the premises at all times and provides 24 hour nursing service with at least one qualified and registered professional nurse present and on duty at all times. Whether in the singular or plural, means the digits of a hand or foot. Whether in singular or plural means the person(s) who come within the description of insured persons stated in the schedule, who are nominated by you from time to time and for whom premium has been paid. Organization stated in the schedule. Whether in singular or plural, means an arm at or above the wrist or a leg at or above the ankle.

Reasonable and Customary Charges

Hospital

Fingers or Toes

Insured Person

Policy Holder Limb

3. WHAT WE WILL PAY FOR


Following an Accidental Bodily Injury to You which results in any of the events listed in the Table of Events, we will pay You or Your nominee such percentage stated against the event in the Table of Events of the sum insured stated in the Schedule provided that the Schedule mentions that you have opted for coverage against that event and paid premium for the same.

PRIMARY COVERS The Primary Cover includes the following benefits. We will make payment for the benefits as specified in the Schedule. A. Accidental Death B. Permanent Total Disablement C. Permanent Partial Disablement D. Temporary Total Disablement For any other Permanent Partial Disablement event not provided above. We shall pay an appropriate percentage of principal sum insured as decided by us. If a claim has already been settled for any of the primary covers the amount payable for the subsequent claims/s under any other primary covers shall be reduced by the amount/s already paid. Regardless of one or more claims during the policy period, the maximum amount payable towards the Primary Cover shall be restricted to the Principal Sum Insured. If more than one loss results from any Accident, only the one amount the largest, will be paid.

Table of Events
Event Death Permanent Total Disablement Permanent Partial Disablement Permanent Total Loss of sight of both eyes Permanent Total Loss of sight of one eye and physical separation of or the loss of ability to use either one hand or one foot An arm at the shoulder joint An arm above the elbow joint A hand at the wrist An arm beneath the elbow joint A thumb An index finger Any other finger A leg above mid-thigh A leg up to mid thigh A leg up to beneath the knee A leg up to mid-calf A foot at the ankle Percentage of Sum insured 100% 100% As follows 100%

100%

75% 70% 50% 60% 25% 10% 5% 75% 60% 50% 45% 40%

A large toe Any other toe Permanent Loss of sight of one eye Hearing of one ear Hearing of both ears Sense of smell Sense of taste Shortening of leg by at least 5% Temporary Total Disablement

5% 2% 50% 25% 75% 10% 5% 7% As per the benefit plan

This policy shall cease for the particular Insured Person on payment of a claim for Death or Permanent Total Disablement of that Insured Person.

4. ADDITIONAL COVERS
We will make payment for the following additional benefits if the Schedule mentions that you have availed the same and paid the additional premium applicable. (a) Child Education Support In the event of We making payment for a claim for Death or Permanent Total Disablement, We will also be making payment towards the education support of Your child upto 21 years of age for the sum insured mentioned against this benefit per month for the maximum period as stated in the Schedule .This benefit shall be limited to the maximum as stated in the Schedule irrespective of the number of children.

(b) Life Support Benefit In the event of We making payment for a claim for Permanent Total Disablement, We will also make payment towards your life support the sum insured mentioned against this benefit per month for the number of months mentioned in the Schedule. (c) Accidental Medical Expenses In the event of valid claim under this policy for Death, Permanent Total Disablement, Permanent Partial Disablement, Temporary Total Disablement We will reimburse the Reasonable and Customary charges, subject to Deductibles if any shown in the Policy Schedule, towards Hospitalisation expenses incurred for medical treatment for the injury sustained, as an inpatient in a Hospital in India for a minimum period of 24 hours. The maximum amount payable towards this cover shall be the sum insured shown in the Schedule against this cover. (d) Hospital Cash Allowance In the event of us paying a claim for Accidental Medical Expenses, we will also make payment of the sum mentioned in the Schedule for each completed day of hospitalization for a maximum period mentioned in the Schedule. (e) Loan Protector In the event of us making a payment for Death or Permanent Total Disablement, We will also pay the sum mentioned in the Schedule against this benefit per month or the actual Loan EMI you are liable to pay, whichever is less for the maximum period mentioned in the Schedule. We will also make payment towards this benefit for each completed month of hospitalization in the event of you meeting with an Accident and getting hospitalized. The maximum payment during the policy period shall be the number of months mentioned in the Schedule. (f) Repatriation Benefit and Funeral Expenses In the event of We making payment for a claim for Accidental Death we will also make payment towards I. Expenses incurred for preparing your body for burial or cremation and transportation of your body to your city of residence provided the place of death is not less than 100 kms from your normal place of residence.

II. Your funeral expenses. The maximum towards a & b together shall be limited to 1% of the Principal Sum insured subject to maximum of Rs 12500/-.

(g) Adaptation Allowance If You are required to modify Your vehicle or make some changes in Your house as necessitated by a Permanent Total Disablement which resulted from an accident covered under this Policy, We shall reimburse such expenses up to a limit of 10% of the Principal Sum Insured subject to a maximum of Rs.50,000 provided we have paid the claim towards Permanent Total Disablement. (h) Family Transportation Allowance Following an accidental injury which results in Death, Permanent Total or Permanent Partial Disablement indemnifiable under this policy, if the Insured Person is confined in a hospital outside 100 kms of his normal place of residence, within 12 months from the date of accident, and the attending physician recommends the personal attendance of an immediate family member, we shall reimburse the expenses incurred for the immediate family member for transportation by the most direct route by a licensed common carrier to the place of confinement of the Insured Person. The maximum amount payable for this cover shall be limited to 10% of the Principal Sum Insured subject to maximum Rs.50,000/-.

5. WHAT IS NOT PAYABLE


We will not pay for any compensation, benefit or expenses in respect of Death, Injury or Disablement, Accidental Medical Expenses of the Insured person as a consequence of the following a) Intentional self injury (including but not limited to the use or misuse of any intoxicating drugs or alcohol)

b) Accident while under the influence of alcohol or drugs. c) Participation in an actual or attempted felony, riot, crime, misdemeanor or civil commotion d) Any accident of which a contributing cause was your actual or attempted commission of, or willful participation in, an illegal act or any violation or attempted violation of the law or your resistance to arrest. e) Whilst engaging in Aviation or Ballooning or whilst mounting into, dismounting from or traveling in any balloon or aircraft other than as passenger (fare paying or otherwise) in any duly licensed standard type of aircraft. f) Participating in motor racing or trial run as a driver, co-driver or passenger g) Curative treatments or interventions that you carry out or have carried our on your body h) Pregnancy and childbirth, miscarriage, abortion or complications arising out of any of these i) War, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, commotion unrest, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalization or requisition of or damage or under the order of any government or public authority j) Nuclear energy, radiation k) Any existing disablement prior to the inception of the policy l) Venereal or sexually transmitted diseases, HIV (Human Immunodeficiency Virus) or HIV related illness including AIDS (Acquired Immune Deficiency Syndrome) and / or mutant derivatives or variations however caused. m) Any medical expenses, services, supplies or treatment or hospital stay which were not recommended or approved as medically necessary by a Physician. n) Any expense incurred which is not exclusively medical in nature o) Expenses incurred for emergency medical evacuation

6. THINGS YOU SHOULD DO


1. If you meet with an accidental bodily injury that may result in a claim, then You must immediately consult a Doctor and follow the advice and treatment that he recommends a) You or someone claiming on your behalf must inform us in writing immediately and in any event within 15 days b) You must take reasonable steps to lessen the consequences of your bodily injury. c) You or someone claiming on your behalf must promptly give us the documentation information we ask for to investigate the claim or our obligation to make payment for it. d) You must have yourself examined by our medical advisors if we ask for this and as often as we consider this to be Necessary e) In case of your death, someone claiming on your behalf must inform us in writing immediately and send us a copy of the Post Mortem report, FIR or any other document as required by us within 15 days. 2. We have agreed to issue this policy based on the occupation that you have declared to us while taking this policy. If you change your occupation then you must tell us in writing within 30 days of the change. If you do not do this, then this insurance will cease as far as you are concerned from the date that you changed your occupation. 3. You should send any communication meant to us in writing to our address shown in the Schedule. 4. If you wish to cancel this policy you should give us 15 days notice in writing. We shall refund you balance premium after retaining premium as per the scale shown below: Policy period not exceeding 1 month 3 month % of annual rate 25% 40%

6 month 9 month

75% 90%

7. THINGS WE WILL DO THINGS


We will send any communication meant to you to your address shown in the Schedule. a) We will make claim payment to you or Your Nominee. If there is no Nominee and you are incapacitated or deceased, we will pay your heir, executor or validly appointed legal representative and any payment we make in this way will be a complete and final discharge of our liability to make payment. b) We will make all claim payments in Indian rupees within India only. c) If we cancel this policy we will give You 15 days notice in writing. In such cases we shall make you pro rata refund of premium for the balance period. d) If you renew this policy with us within 7 days of expiry of the policy we shall give you 5% increase on the primary covers for each continuous claim free year. Maximum increase shall be 25% of the original policy sum insured. You will be eligible for this benefit only if the Schedule mentions that such benefit is included in the plan opted by You. e) If you renew this policy continuously with Us, You may become eligible for Renewal Discount in the renewal premium payable as per our guidelines. f) This Policy may be renewed by mutual consent every year and in such event, the renewal premium shall be paid to us on or before the date of expiry of the Policy or of the subsequent renewal thereof. However we shall not be bound to give notice that such renewal premium is due.

Incurred claim Ratio under the Group

Discount Percentage (%)

Up to 20% 21% - 35% 36% - 50% 51% - 60%

25 15 10 5

8. Loading Percentage for high claim ratio (MALUS):


The total premium payable at renewal of the group policy will be loaded at the following scale depending upon the incurred claims ratio for the entire group insured under the group personal accident policy for the preceding 3 completed years excluding the year immediately preceding the date of renewal. Where the group personal accident policy has not been in force for the 3 completed years, such shorter periods of completed years excluding the year immediately preceding the date of renewal will be taken in to account.

Incurred claim Ratio under the Group Policy


Between 80% and 100% Between 101% and 125% Between 126% and 150% Between 151% and 175% Between 176% and 200% Over 200%

Loading Percentage (%)


25 55 90 120 150 Cover to be reviewed

9. WHAT YOU SHOULD NOT DO


a) You should not make any claim knowing it to be false or fraudulent in any way. b) You should also not conceal, misrepresent intentionally or otherwise any fact or circumstance that we consider as material to this insurance. c) If you do so then the policy shall be void and all claims or payments due under it shall be lost.

10. DISPUTE RESOLUTION


a) Any dispute regarding the claim amount, liability otherwise being admitted, are to be referred to arbitration under the Arbitration & Conciliation Act 1996. The law of the arbitration shall be Indian law and the seat of the arbitration and venue for all the hearings shall be within India. b) If these arbitration provisions are held to be invalid, then all such disputes or differences shall be referred to the exclusive jurisdiction of the Indian courts.

11. COMPLIANCE WITH POLICY PROVISIONS


Failure by You to comply with any of the provisions in this Policy may invalidate all claims hereunder.

12. USE OF MASULINE PRONOUN


A masculine personal pronoun as used in this Policy includes the feminine, wherever the context requires.

13. TERRITORIAL LIMITS AND LAW


We cover Accidental Bodily injury sustained by you during the Policy Period anywhere in the World (subject to the travel and other restrictions that the Indian Government may impose), but we will make payment within India and in Indian Rupees. The construction, interpretation and meaning of the provisions of this Policy shall be determined in accordance with Indian Law.

Chapter-2 ABOUT THE COMPANY


ABOUT THE COMPANY:
Future Generali is a joint venture between the India-based Future Group and the Italybased Generali Group. Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd.

FUTURE GROUP:
Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of Indias leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in 71 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. The groups specialty retail formats include sportswear retailer, Planet Sports, electronics retailer, eZone, home improvement chain, Home Town and rural retail chain, Aadhaar, among others. It also operates popular shopping portal, www.futurebazaar.com. Future Capital Holdings, the groups financial arm, provides investment advisory to assets worth over $1 billion that are being invested in consumer brands and companies, real estate, hotels and logistics. It also operates a consumer finance arm with branches in 150 locations.

Other group companies include, Future Generali, the groups insurance venture in partnership with Italys Generali Group, Future Brands, a brand development and IPR company, Future Logistics, providing logistics and distribution solutions to group companies and business partners and Future Media, a retail media initiative. The groups presence in Leisure & Entertainment segment is led through, Mumbaibased listed company Galaxy Entertainment Limited. Galaxy leading leisure chains, Sports Bar and Bowling Co. and family entertainment centers, F123. Through its partner company, Blue Foods the group operates around 100 restaurants and food courts through brands like Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato. Future Groups joint venture partners include, US-based stationery products retailers, Staples and Middle East-based Axiom Communications. Future Group believes in developing strong insights on Indian consumers and building businesses based on Indian ideas, as espoused in the groups core value of Indianness. The groups corporate credo is, Rewrite rules, Retain values.

THE GENERALI GROUP:


The Generali Group is a leading player in the global insurance and financial markets. Established in Trieste in 1831, today the Group is one of Europes largest insurance providers and the European biggest Life insurer. It is also one of the worlds top asset managers with assets totaling more than 400 billion. With an employed sales force of more than 100,000 people serving 70 million clients in 68 countries, the Group occupies a leadership position in Western Europe and an increasingly important place in Eastern Europe and Asia. The Group strategy aims to consolidate Generalis pre-eminence on its key markets and achieve a premier position on markets with high growth potential, establishing its leadership in profitability.

IDENTITY CARD:
Since its establishment, the Generali Group has always held a reputation for its capital and financial strength. Its solidity derives from prudent investment management and a focus on

achieving a correct match between risk and medium/long-term profitability. Generali Group is one of the leading insurance groups in Europe, with a 2009 total premium income of more than 70 billion It is present in 68 countries It has 70 million clients worldwide It has 85,322 employees (15,956 in Italy) It has over 400 billion of assets under management High rating assigned by the international rating agencies: A.M. BEST: A+ STABLE Standard & Poors: AA- STABLE Fitch Ibca: AA- NEGATIVE Moodys: Aa3 STABLE Vision Statement: "Pledged to provide financial security to all people & enterprises through total insurance solutions" Values: Respect: for all our stakeholders- employees, customers, for all rules and regulations both internal and external. Indianness: We understand India in all its diversity and different facets and will use for our local understanding to respond to our specific markets, design our products and craft our processes. Nimbleness: A combination of speed and quality, and ability to overcome all obstacles which come in the way of the achievement of our vision. "Can Do: An attitude which demonstrates our passion, entrepreneurship, and positive thinking.

Positioning Knowledge Organization with Leadership Approach One Stop Total Insurance Solutions & Services Provider Customer Centric Model embracing Passion, Convenience and Service Excellence Objective To provide superior customer service through our knowledge-based business partners and employees supported by innovative products and services. Family DNA
Pioneering spirit

Passion for clients Responsibility Respect Integration Professionalism Transparency Indianness Visionary Lifetime learning

Products:
Retail Products Motor

Motor Suraksha Motor Add-on Accident & Health Future Accident Suraksha For Individuals & Family Health Suraksha For Individuals & Family Future Criti-care For Individuals & Family Travel Travel Suraksha Individual Travel Plan Multi- Trip Plan Asia Travel Plan Superior Care Plan Schengen Travel Home Future Home Secure Commercial Products Business Suraksha
For Shopkeeper For Office Education

Institutes

For Housing Societies Hotel

& Restaurants

Corporate Products Fire Standard Fire & Special Perils Policy Fire Loss of Profit Industrial All Risk Engineering Insurance Erection All Risk Contractors All Risk Machinery Breakdown Contractors Plant & Machinery Boiler & Pressure Plant Electronic Equipment Machinery Loss of Profits Marine Cargo Insurance Accident & Health Group Health Insurance Group Personal Accident Liability Public Liability (Industrial) Public Liability (Non Industrial) Products Liability Directors & Officers Liability

Errors & Omissions Commercial General Liability Workmens Compensation Miscellaneous Burglary Money Rural Products Rural Products Cattle & Livestock Poultry Other Animals Camel Dog Elephant Horse Agricultural Pump-set Farmers Package

Future Secure Motor Insurance:


The difference between driving safe and driving secure. You stop at every signal; you slow down when you are supposed to, and follow every rule to the letter. Unfortunately, your vehicles fate doesnt depend on you alone. Future Motor Suraksha takes care of any damage

your vehicle might suffer. This plan, which is in its first year of operations; overs everything, including third party expenses. So now when you drive, rest assured; we take just as much care of your car as we do of you. Types of Motor Insurance Solutions: Private Car Insurance Two Wheeler Insurance Commercial Vehicle Insurance Benefits Instant policy issuance Toll-free assistance number for customer service and claims registration Prompt and timely claims survey Cashless / direct settlement at our approved workshops Claims finalization within seven working days from receipt of all documents Accidental towing assistance (within city limits only) Automated renewal reminder service Private Car Insurance/Two Wheeler Insurance: Coverages Vehicle damage: This benefit covers any damage to your vehicle on account of an accident, burglary, theft or housebreaking. It also protects your vehicle against damage due to fire, lightning, self-ignition, explosion, riot, strike, malicious act, terrorism, earthquake, flood, cyclone and inundation. This cover encompasses protection against any damage caused to your vehicle while in transit by road, rail, air, elevator and lift Third party liability: This benefit protects you against any third party liability that you may incur due to the death of, or bodily injury to, any person; or damage to property.

The policy also covers the legal expenses you might incur to defend this claim. This is a mandatory insurance coverage for your vehicle

Additional coverages 1. Personal accident cover: The motor insurance provides compulsory personal accident cover of Rs. 1 lakh for individual owners of the vehicle while driving. This is not applicable for a Company owned Vehicle. You can also opt for a personal accident cover for passengers (named or un-named) up to a maximum Capital Sum Insured of Rs. 2 lacs per person Available only if the owner of the vehicle holds a valid driving license. 2. Additional Legal liabilities: The following additional legal liabilities may also be opted for at an additional premium Paid Driver/conductor/Cleaner employed in operation of vehicle. Employees traveling in/driving the vehicle other than paid driver. Non-fare paying passengers Bonus and Discounts: No Claim Bonus: If you do not make a claim during the policy period, a No Claim Bonus (NCB) is offered on renewals. This discount can go as high as 50%. (NCB will only be allowed provided the policy is renewed within 90 days of the expiry date of the previous policy.) Transfer of NCB: You can transfer full benefits of No Claim Bonus when you shift your motor insurance policy to another company. Voluntary Excess discount: A further discount on the premium is available if you opt for a Voluntary Excess (available only for Private cars and two wheelers) in

addition to the Compulsory Excess. (Compulsory Excess is the amount of loss which the insured has to bear in each and every claim.). Automobile Association Membership: You can also avail of additional discount if you are a member of a recognized Automobile Association in India (available only for Private cars and two wheelers). Anti-theft devices: In case you have installed an ARAI approved anti theft device in your vehicle, you get a discount of 2.5 % on the OD Premium to a maximum of Rs. 500 for four-wheelers and Rs 50/- for two wheelers Motor Add on: With growing needs and dynamic external factors, the regular car insurance is no longer sufficient. Future Generali offers you unique Add on covers for additional protection to your vehicles 1. Depreciation Cap This cover offers full claim without any deduction for depreciation on the value of parts replaced. The cover is available for vehicles up to 3 years old and operates for maximum 2 claims during the policy period. 2. IDV comprising of On Road Price This cover offers IDV equal to Invoice value plus Registration plus Road Tax for the new vehicle. 3. Reimbursement of Consumables. This cover reimburses the cost of consumables up to 2% of the admissible claim amount subject to a maximum of Rs 3000/1. Personal Accident of Rs 50 lakhs Death only for registered owner. 2. Loss of Personal Belongings including owners laptop from locked vehicle up to Rs 50,000/3. Loss of keys up to Rs. 50,000/-

4. Inconvenience Allowance of Rs. 3000/- per day for 15 days 5. This cover pays a fixed sum towards hiring a transport while the vehicle is under repair for a valid claim and the repair time is more than 3 days. Period of Daily Allowance may extend beyond the policy period depending upon the date of loss. 6. Personal Liability of Rs 5 lakhs worldwide for registered owner You may also choose from Pre-determined bundles below Add on Covers Depreciation Cap IDV comprising of On Road Price Reimbursement of Consumables Personal Accident Death only cover for Registered owner Loss of Personal Belongings Loss of keys Inconvenience Allowance Personal Liability Silver Gold Platinum

Commercial vehicle Insurance: Your vehicle is most critical to your business. Any damage to it can be a huge loss to you. In todays times of uncertainties, you need a comprehensive insurance cover which not only covers you for the liability arising out of the Third party but covers you against the loss

or damage to your vehicle. Benefits Covers all the features as per the Motor Vehicle tariff Coverage for Partial Loss & total loss arising out of accident, Fire & allied perils, burglary & theft, riots and strikes, damage in transit by air, rail, road and sea. Discount (NCB) for claim free experience. Predefined depreciation for the parts needing replacement on account of accident. Third Party Legal Liability: Covers Third party property damage and Third party Bodily injury.

Future Accident Suraksha:


External sunshine of a tranquil mind. Wouldnt it be nice to never wonder, what if...? To never have misgivings? To be prepared for absolutely anything? Heres where we come in. With Future Accident Suraksha - Well take care of any financial consequences that an unforeseen event might incur. So go on and live a life without worries. After all, when youre insured even against the unforeseen, peace of mind comes easy. Scope of cover The Plan covers risk of Accident Accidental Death Permanent Total Disability Permanent Partial Disability Temporary Total Disablement

Health Suraksha For Individuals & Family


Always within reach. Your health is your most important asset. And with Future Health

Suraksha, we ensure that you will never have to go too far to protect it. Our network of hospitals across the nation will handle any medical problem that arises. Its our way of protecting you even against the unpredictable.

Benefits In house Claims processing Cashless settlement Innovative covers offered Family Floater Quick settlement of claims Renewal discount No Claim Bonus

Future Criti-care For Individuals & Family


Future Criti-Care is a standalone critical benefit plan that insures you against twelve critical illnesses. Should you ever be diagnosed with one of these, you will be provided with a fixed sum, regardless of your actual medical expenses and other health indemnity policies. Subsequent to 90 days from the policys commencement, Future Criti-Care shall cover the following major medical illnesses and procedures; subject to survival of 28 days from the date of diagnosis/ procedure. You can apply for this plan in addition to your other medical plans. Cancer* Kidney Failure* Primary Pulmonary Hypertension* Liver Failure*

Multiple Sclerosis* Major organ transplant* Coronary artery bypass surgery* First heart attack*(myocardial infarction)

Coma* Total blindness* Aorta graft surgery* Stroke*

Travel Suraksha:
195 nations.7 continents.1 policy to keep you safe. World travel made easy. Wherever you go, we keep you safe. Future Travel Suraksha takes care of any contingencies that might arise during your journey; like misplaced papers, sudden illnesses, lost luggage etc. So travel the world. Leave the worries to us. Benefits Cashless claims settlement Claims turnaround time of less than seven working days Global service and hospital network Worldwide emergency, medical and travel assistance Universal International Free Number (UIFN) Flexibility of choosing a travel insurance plan as per your need Child escort benefit Specially designed plan for senior citizens (i.e. 71 80 years of age)

Ease and convenience of purchase Instant policy issuance Cover extension in India, up to 90 days for medical expenses on evacuation

Future Generali Home Suraksha:


Protect what protects you. Insure your home and everything in it. In todays busy life; we need someone who protects our worries about unfortunate loss of hard earned money, property, etc. Future Generali's Home Protection Policy protects you from all your worries. Important features of various sections of this policy are: Section I - Protection of your assets against fire and allied perils and earthquake I-A Buildings I-B Contents (excluding valuables) I-C Cost of alternative accommodation I-D Loss of rent I-E Terrorism I-F Purchase protection Section II Burglary / housebreaking and theft This section provides protection against the loss or damage to the contents and / or building of insured premises by burglary and / or housebreaking. The contents may either be insured on 100% basis or first Loss limits (25% or 40%). The sum insured value of contents should be on market value basis. Section III: Protection of your valuables III-A Jewellery / Valuables III-B Portable Computer All risk excluding breakdown

Section IV: Protection of your electronic equipment IV-A Audio visual equipments (electronic equipment) all risk IV-B Computers (electronic Equipment) all risk Section V: Protection of Your household mechanical / electrical equipment V - Household appliances breakdown Section VI-An Accidental compensation (personal accident) Death / PTD / PPD VI-A Permanent Partial disability VI-B Hospital confinement allowance Section VII: Protection against your liability VII-A your legal liability as a tenant - Tenants legal liability VII-B Workman's compensation Domestic employees VII-C Public liability Section VIII: Enhanced protection covers (Other covers) VIII-A Baggage all risk VIII-B Plate glass all risk VIII-C Pedal cycle VIII-D ATM cash withdrawal all risk VIII-G Veterinary cost road accident

Commercial Products:
Scope of cover This policy is applicable to land-based properties. Our policy is intended to cover

unforeseen events like fire, earthquake, breakdown, burglary, etc. It does not cover wear and tear and damage which happens gradually over a period of time which would normally be described as maintenance. We offer Business Suraksha policy to Shopkeepers Office Educational Institutions Hotels & Restaurants Housing Societies Benefits 1. Fire and Special Perils Building and Contents: This section broadly covers the damages caused by following risk, Fire ,Lightening, Explosion, Aircraft damage Riot/Strike, Malicious damage Storm, Cyclone, Flood and Inundation Impact Damage, Subsidence and Landslide including Rock slide, Bursting & or overflowing of water tanks, apparatus & pipes Earthquake Terrorism (Optional) Also following can be extended to cover the losses consequent to damage / loss by charging an additional premium... Rent for Alternate Accommodation. Tenants Legal Liability (Fire Damage- Building) Note: Building and Contents value shall be shown separately. Contents sum insured is mandatory. Sum insured value of building; FFF should be on reinstatement basis. Contents

(stocks) should be on Market Value basis. Adequacy of sum insured of Building and Contents to be ensured to avoid underinsurance. 2. Burglary and Housebreaking: This section provides protection against the loss or damage to the contents and / or building of insured premises by Burglary and / or Housebreaking. Contents can be insured on First Loss Limits. Sum Insured value of contents (Stocks) should be on Market Value basis. 3. Electrical and Mechanical Appliances: This section protects you from accidental mechanical or electrical breakdown of machineries or equipment whilst installed in the Insured Premises. The sum Insured of each equipment should be on Reinstatement Basis. 4. Electronic Appliances: This section of policy covers the repair or replacement costs of your Electronic Equipment caused by any unforeseen and sudden physical loss. The sum Insured of each equipment should be on Reinstatement Basis. 5. Money Insurance (Money in Transit/ Money in Safe/ Money in Counter): In business, transferring the money from one place to another often causes anxiety for everyone. This section protects your risks by: Money in Transit between the insured premises and specified bank and vice versa. Money in Safe. Money in Counter. 6. Infidelity / Dishonesty of employee: Employees are our greatest assets. Yet you face instances where your employees cheat you, this section cover such unusual events. This section covers you against: Any direct loss caused by act of fraud committed by any salaried employee in the insured premises.

7. Fixed Plate Glass: This section covers accidental damage to fixed plate glass, frames, and frameworks. 8. Neon Sign / Glow Sign: This section covers accidental damage to Neon Sign / Glow Sign by Fire, lightening, external explosion, theft, riots, strike & natural calamities, accidental external means. 9. Personal Accident: This section covers you, in case of Accidental Death, Permanent Total Disablement, and Permanent Partial Disablement. Maximum Limit for shopkeeper owner is Rs.10 Lacs and for each employees Rs 2 Lacs. 10. Workmen Compensation: This section covers the liability towards your Workmen under the Workmen Compensation Act, Fatal Accidents Act and at Common Law under this section. 11. Public Liability: This section will compensate you, for the claims arising out of the third parties bodily injury or property damage occurring in your premises. This is in accordance with Indian Law. 12. Pedal Cycle: This section covers the repair or replacement costs in respect of the Pedal Cycle caused by any unforeseen, accidental and sudden physical loss. 13. Baggage: This section covers accidental loss caused to your personal baggage while traveling anywhere in India beyond 25 km radius of the insured premises.

14. Business Interruption (Fire Loss of Profit): This section provides cover against the loss of income following the loss or damage by standard fire and special perils.

Corporate Products:
Fire: Standard Fire and Special Perils Policy: Fire insurance policy is suitable for the owner of property, one who holds property in trust or in commission; individuals/ financial institutions who have financial interest in the property. All immovable and movable property located at a particular premises such as buildings, plant and machinery, furniture, fixtures, fittings and other contents, stocks and stock in process along with goods held in trust or in commission including stocks at suppliers/ customer's premises, machinery temporarily removed from the premises for repairs can be insured. Coverage Includes Fire Lightning Explosion/Implosion Aircraft Damage Riot, Strike, Malicious Damage Storm, Typhoon, Hurricane, Tornado, Flood and Inundation Impact damage Subsidence and landslide including Rock slide Bursting and overflowing of water tanks, apparatus and Pipes Missile testing operations Leakage from Automatic Sprinkler Installation Bush Fire

Non Motor Claims Process Insurance policies are contracts of insurance between the insured and Insurer. The insured needs to understand the policy issued to him before the loss occurs. Filing the Claims: Contact the Call center immediately. The intimation of the loss can be made through Broker / Agent / FG representative in any office of FG. It is desirable that the call be placed on our call center to avoid the loop in the communication. Kindly ensure that as far as possible the policy details are available with you before you intimate the loss. Contact on Phone / email / fax. In case of Fire loss: Contact the fire brigade / police. Try to minimize the loss and protect the property. In case of Theft/ Burglary claims: Loss should be reported to Police Authorities. In case of Marine transit loss: If you observe the damage to packing insist on open delivery. Qualify the BL/LR/RR/MTD/AWB. Submitting Documents: In support of your claim the insured may be required to submit the following documents:-

In case of Fire Policy Claims: Claim form, duly filled in & signed by the Insured. Inventory of loss. Repairs bills. Lab. Test reports, if required Photographs, if taken by the Insured Departmental Note about the incident Fire Brigade Report FIR & Police Panchanama. In case of Marine Claims: Policy/ Certificate of Insurance duly endorsed Invoice Packing List Surveyors Report Contract of Carriage i.e. Bill of lading, Air Way Bill, Lorry Receipt (Consignment Note), Railway Receipt (Original in case of Non - delivery) Documents pertaining to recovery. In case of Engineering Claims: Claim Form Photographs Police report (first and final) Fire Brigade report

Note: 3 & 4 may be waived where the survey report is clear and does not cause any doubt on occurrence as well as extent of loss. Where Occurrence of riot is in public knowledge, production of Final Police Investigation Report and Fire Brigade report may be waived. Give your contact details i.e. Phone Number / Cell number / Email Id and address where you are available. Maintain all the records of expenses incurred and all the copies of documents and correspondence exchanged in respect of the loss. Do not dispose of the damaged item before the surveyor has seen the damaged goods and permits to dispose it. Stock Loss: Try and make the detailed list of the stock damaged. If possible try to minimize the loss by segregating the damaged goods from the undamaged goods. Try to ascertain if the damaged goods can be restored to its original shape / state if so try to take steps to do so but in consultation with the surveyor. Keep the details of stock statement ready as on date of loss (before loss). Segregate the stock position into Raw materials, Stock in process, semi finished goods /finished goods/ others. Property Loss: Make detailed lists, of all damaged items identifying make and model numbers. Identify where and when you bought the item and its original purchase price. If it is safe to do so, take a good look around your property and make a note of any structural damage. Dont forget to look at all structures on the property such as sheds, fences, garage, etc. Obtain detailed written repair estimates from reliable, licensed contractors. The estimate should clearly give detail of labour and material needed.

Liability Loss: Inform FG of the happening of an event which may give rise to a claim under the policy. Dont forget to take down the Name, address and telephone number of the witness which will help us if contributory negligence is there and to be proved. Property Damage Nature and extent of loss / damage, valuation, depreciation Contributory negligence Loss of use, loss of profits, increased cost of working, etc. as claimed. Bodily Injury / Death Age, Occupation, status, Income, Dependency, Age of the Dependents etc. Percentage of Disability supported by Medical Certificate. Contributory negligence. Forward the notice of the claim that may be received without admitting the liability to FG. Inquiry Procedure: As your Insurer, FGI strives to maintain the highest standard of service at all times. If you have an inquiry or concern regarding your policy or claim we encourage you to Ask us or your insurance broker and agent for an explanation. Have all the pertinent information and documentation available. Make sure that you keep a record of who you talked to and what was said. If your concern is still not addressed to your satisfaction we urge you to write to the Claims Head of the FGI office that issued you the policy. We will of course make every effort to resolve any problem in a fair and reasonable manner.

Settling Your Claim: Once we agree on the terms of the settlement, payment will be sent promptly Additional covers: Earthquake (Fire & Shock) Spontaneous Combustion Deterioration of Stocks in cold Storage premises due to accidental power failure consequent to damage at the premises of Power Station due to an insured peril Deterioration of stocks in cold storage premises due to change in temperature arising out of loss or damage to the cold storage machinery in the Insureds premises due to operation of insured peril. Forest Fire Impact Damage due to Insureds own Rail/Road Vehicles, Forklifts, Cranes, Stackers and the like and articles dropped there from. Omission to Insure additions, alterations or extensions clause Removal of Debris (in excess of 1% of claim amount) Architect, Surveyors & Consulting engineers fees in excess of 3 % of claim amount. Spontaneous Combustion Spoilage Material Damage Cover Leakage and Contamination Cover Temporary Removal of Stocks Loss of Rent Rent for an Alternate Accommodation

General Exclusion: Fire due to own fermentation, natural heating or spontaneous combustion of the stocks or by their undergoing any heating or drying process Burning by order of any Public Authority Explosion of boilers or steam generating vessels & machinery subject to centrifugal force by its own explosion or implosion Pressure waves generated by aircraft Total or partial cessation of work/retarding/interruption of any process or operations arising out of riot, strike, malicious damage Burglary, house breaking, theft, larceny arising out of riot, strike, malicious damage Impact damages by rail/road vehicle/animal belonging to the insured or employee or any occupier of the premises Normal cracking, settlement, bedding down, up heaving of land/structures, coastal or river erosion, defective design, workmanship or use of defective materials Destruction or damage caused by forest fire Excess amount Loss or damage caused by war or war like situations Loss or damage by pollution or contamination except due to insured peril Loss or damage to electrical machine/apparatus, which is the source of fire Architects, Surveyors & Consulting Engineer's fees exceeding 3% and debris removal expenses Any consequential losses

Rating: Rating depends on The type of occupancy-whether industrial or otherwise Claim experience Fire Protection System Deductible

Loss of Profits (Consequential Loss) Policy


The Consequential Loss (fire) policy covers Loss of Gross Profit and/or increase in cost of working due to reduction in turnover/output due to operation of peril covered in the Standard Fire & Special Perils Policy. Coverage Includes Loss of Net Trading Profit Standing Charges Loss in Respect of Wages other than those covered by the Standing Charges Increased Cost of Working Auditor's Fees

Industrial all risk:


Scope of Cover A comprehensive coverage for the Industrial risks having overall Sum Insured of Rs. 100 crores and above in one or more locations in India. The Policy covers not only the Physical Losses or damage but also consequential losses arising out of the business interruption due to accidental unforeseen physical loss or damage to property.

Policy Structure Section I - Material Damage which includes Fire & Allied perils, theft, Burglary, Machinery Breakdown, Boiler Explosion, Electronic equipment, etc Section II - Business Interruption - Fire Loss of Profit and Machinery Loss of Profit (MLOP is optional). Coverage IAR is an all Risk policy subject to specified exclusions in the policy. Deliberate erasure loss distortion or corruption of the information Deductible stated in the schedule.

Engineering Insurance:
Erection All Risk Policy: Comprehensive and adequate insurance protection against all risks involved in the erection of machinery and plant as well as structures of any kind. This policy provides coverage to all types of projects including large projects such as erection of Thermal Power stations, Fertilizers Plants, Oil refineries or the installation of complete factory facilities, which bring about so many risks for both the contractors and the principal. Coverage right from the moment the material are unloaded on the site of the projects/ works and continues during storage, physical erection and till the test run is over. Scope of cover: this policy covers risks associated with storage, assembly/erection and testing of Plant and Machinery. EAR insurance provides comprehensive cover. All perils are covered unless specifically excluded. Cover incepts from the time of unloading of the first consignment at the project site and terminates on completion of testing or handing over of the project to the Principal, or the period chosen, whichever is earlier.

Period of Cover: The insurance cover commences from the date of arrival of first consignment at the site of erection and continuous until immediately after the first test operation or test loading is concluded. Additional Covers: Escalation Clearance and Removal of Debris Third Party Liability Extended Maintenance Damage to Owners Surrounding Property Express Freight Additional Customs Duty Holiday and Overtime rates and Wages Rating The rating depends on: Type of projects Period of projects Testing period Sum insured of Project Deductible Location of project Extensions opted

Contractors all risk:


Specially designed to protect the interest of civil contractors against the damage to or destruction of various civil engineering projects (like dwellings, office, hospitals, tunnels, cannels, etc). These projects includes accidental damage to civil Construction works, contractor's plants & machinery at the construction site and damage / defects during the subsequent period of maintenance for which the contractors is liable under the terms of the agreement between the contractors and the principle. Scope of cover Contractors all risk Policy covers the risk of accidental physical loss or damage in respect of the contract works, during the execution of a civil project. CAR insurance provides an all risk cover. All perils are covered unless specifically excluded. Cover incepts from the Commencement of work or after unloading of first consignment at project site, whichever is earlier and terminates on handing over of works to the principal or expiry of policy, whichever is earlier. General Exclusions Willful misconduct Cessation of work whether total or partial Delay Damage due to faulty design Rectification of defective material Workmanship inventory losses

Period of Cover The cover attaches with the commencement of work or after the items entered in the schedule of the policy have been unloaded at the site whichever is earlier and shall expire on the date specified in the policy. However, company's liability expires for parts of the insured contract works taken over or put into service by the Principal prior to the expiry date specified in the policy whichever shall be earlier.

Additional Covers Third Party Liability. Owners Surrounding Property. Escalation. Maintenance Cover. Clearance and Removal of Debris. Contractor's Plant and Machinery Rating Rating depends on: Type of Project Period of Project Sum Insured of project Deductible Location of Project Extensions opted

Machinery Breakdown: The policy covers unforeseen and sudden physical damage to any mechanical and electrical machinery and/or equipment by any cause necessitating repairs and/or replacement. Scope of cover The Insurance Policy broadly covers loss due to all kinds of accidental, electrical and mechanical breakdowns due to internal and external causes. Cover is granted during the time the machinery is in operation or rest or in the process of dismantling, overhauls or during subsequent re-election at the same premises. General Exclusions Fire and allied perils Theft Overloading experiments Willful acts or gross negligence Gradually developing flaws Deterioration from normal use Additional Covers Air Freight Express Freight (excluding Air Freight) Overtime & Holiday Wages Insureds own Surrounding Property Third Party Liability Rating Type of machine Deductible

Contractors Plant & Machinery:


Specially designed to protect the interest of civil contractors against the damage to or destruction of various civil engineering projects (like dwellings, office, hospitals, tunnels, cannels etc). These projects includes accidental damage to civil Construction works, contractor's plants & machinery at the construction site and damage / defects during the subsequent period of maintenance for which the contractors is liable under the terms of the agreement between the contractors and the principle. Scope of cover: Contactors Plant & Machinery policy covers loss or damage to the contractors property due to any cause that is accidental and external in nature. Cover operates when the insured property is at work or at rest or being dismantled for the purpose of cleaning/overhauling or during subsequent re-erection. Period of Cover: The cover attaches with the commencement of work or after the items entered in the schedule of the policy have been unloaded at the site whichever is earlier and shall expire on the date specified in the policy. However, company's liability expires for parts of the insured contract works taken over or put into service by the Principal prior to the expiry date specified in the policy whichever shall be earlier. Additional Covers: Third Party Liability. Clearance and Removal of Debris. Additional Customs Duty. Overtime, express freight. Owners Surrounding Property.

Rating Rating depends on: Type of Project Period of Project Sum Insured of project Deductible Location of Project Extensions opted

Boilers & Pressure plant:


The Boiler and Pressure Plant (BPP) Insurance policy covers physical loss or damage to all types of Boilers and/or other pressure plants, where steam is being generated. This policy covers for physical loss or damage to boilers and/or other pressure plant against unforeseen and sudden physical loss of or damage due to explosion or collapse of the insured items. Coverage Includes Steam Generating Boilers both fixed and unfixed against the risk of Explosion or Collapse. General Exclusions Loss or damage due to fire and allied perils. War and nuclear risks. Loss arising out of overload, experiment or test. Gradual developing flaws, defects, cracks or partial fractures. Failure of individual tubes.

Explosions/ Collapse due to facts, existing at the time of commencing insurance, known to the insured. Consequential losses. Willful Negligence. Damage by Chemical explosion except in recovery boilers and waste heat boiler. Additional Covers Express freight Air freight Owners surrounding property Third part liability Additional custom duty Escalation Clause

Rating Type of Boiler Age of Boilers

Electronic Equipment:
The electronic equipment insurance policy is an all risk policy designed for computers, medical, biomedical, microprocessor, and audio/visual equipment including the value of system software. Rates are terrified.

Scope of cover Cover operates when the insured property is at work or at rest or being dismantled for the purpose of cleaning/overhauling or during subsequent re-erection. The Policy provides coverage for: Material damage to electronic equipment (which can include systems software) due to sudden and unforeseen events, under Section I, Cost of external data media, including cost of reconstruction of data under Section II, as also increased cost of working under Section III. While Section I is compulsory, Section II and Section III are optional. Additional Covers Express freight Air freight Owners surrounding property Escalation Third party Liability Additional custom duty Rating The rating depends on: Type of Equipments Deductible Annual Maintenance Contract

Machinery Loss of Profits:


Machinery loss of profit covers consequential loss suffered by insured as an inevitable consequence of accidental breakdown of any machinery. Scope of Coverage: Coverages are the same as under machinery breakdown insurance. If the loss is admitted under machinery insurance, MLOP will be triggered subject to availability of cover. Rating The rating depends on: The general and the specific technical risk of the machinery to be insured The moral and technical hazard relating to the user The effect of machinery breakdowns on the operating profit and standing charges (factor of relative importance) The reserve facilities and spare parts available The possibilities of loss minimization The general economic and political conditions

Marine Cargo Insurance:


It deals with insurance of goods in transit through following modes of transport:
Sea Rail Road Air Inland Post

waterways

Parcels

Accident and Health:


Health is wealth. Well-being is an overall feeling of being in good health and being in control of yourself, your situation and your finances. There is a lot you can do to ensure your well-being. But life, unfortunately, follows no fixed plan. Sudden illness or bodily injury can sometimes leave you financially hurt and highly stressed. This is where Health Insurance steps in. It is insurance that takes care of your medical expenses or treatment expenses and ensures quality health care for you. Now is the time to insure yourself and your family against rising health-care costs. In this world of uncertainty nobody is sure when ones dear one will fall victim to diseases and need hospitalization. This policy certainly helps you to get out of the financial trauma caused by hospitalization and protects you and your family in case you need medical care. Coverage includes Medical insurance covers almost everything- from the time you step into the hospital to the time you are discharged. The normal costs that are covered are room and boarding expenses, nursing expenses, fees for the surgeon, anesthetist, medical practitioner and consultant, fees for specialists, charges for anesthesia, blood, oxygen and the operation theatre, charges for surgical appliances, medicines and diagnostic tests. Cashless facility eliminating the entire trouble of documentation and direct settlement of your bills directly with the hospital. Related expenses during pre-hospitalization period and post hospitalization period up to 30 days and 60 days respectively. Maternity Benefit subject to additional premium. Less than 24 hours hospitalization due to technical advancement for specified procedures like Dialysis, Chemotherapy, Radio therapy, Eye Surgery, Dental Surgery, Lithotripsy (Kidney stone removal), D. & C. Tonsillectomy etc.

Advantages Family Floater Cashless Hospitalization facility Large Hospital Network of more than 4000 Hospitals across India Innovative covers offered Tailor based additional benefits Fast & Efficient Settlement of claims

Liability:
Scope of cover Public Liability Act Insurance Policy is available to protect you against liability arising out of: Any accident affecting any person/persons occurring while handling hazardous substances as listed in the Gazette notification issued under the PLI Act 1991 Exclusions Any willful non-compliance of statutory provision Fines, penalties, punitive and/or exemplary damages Arising out of damage to property owned, leased or hired or under hire purchase or on loan to the Insured or otherwise in the Insured's control, care or custody War and nuclear group of peril Injuries and damages to employees, workmen Note:

You Must Note All written communication received from the Collector be expeditiously brought to our attention and any information required there in be furnished immediately No admission of liability be made without concurrence of insurance company Claims lodged after five years of their occurrence will not be entertained The company can ask for turnover records and other claim related documents Proportion payable in case of other insurance policies existing Non-disclosure or misdescription would prejudice your claim Documents required for settlement of claims: Claim form, Award passed by the district collector Summons, writ petitions, Police report if any

Miscellaneous: (Burglary Insurance Policy)


Scope of cover Unfortunately in today's life, crime rates have sharply increased. At every step, there is an exposure to risk - at factories, offices, warehouse, shops etc. Occurrences like housebreaking, dacoit, robbery or burglary of contents at your office, warehouse, shop, industry can bring about a huge financial loss to your business. Although it is not possible to completely insulate your business from all such occurrences, you can still take necessary safeguards against them. Burglary and Housebreaking Insurance Policy is just the right kind of cover for your business in such times of need. A Complete Protector ITGI's Burglary and Housebreaking Insurance Policy grants coverage in respect of all types of insured property such as stock in trade, goods held in trust or commission, furniture, fixture, fittings, money in locked safe and any other item or equipment.

Barring a few specified Exclusions, the Policy offers protection to the insured property against all incidents of burglary and housebreaking, including robbery and dacoit. This Policy is specially meant for those individuals or organizations who own valuable items or property exposed to the aforesaid risks, for which a comprehensive insurance coverage is required. Benefits Our Policy provides protection against loss of or damage to insured property due to burglary and housebreaking i.e. theft following upon an actual, forcible and violent entry to or exits from the insured premises and also damage to the premises themselves by burglars such incidents. Level of Coverage In Burglary Policy, the Sum Insured should be fixed on current market prices for stocks. For other items such as furniture, fixture, equipments etc., it can be fixed either on Market Value (i.e. new replacement cost less depreciation) or on Reinstatement Value basis. Further, to cover the fluctuating stocks at one place or at many places or variations due to seasonality, you can choose from our Floater, Declaration or Floater Declaration Policies. You can also opt for our First Loss Policy where the Sum Insured chosen by you is a percentage of the full value of property in respect of stocks of bulk nature, where it is impossible for the entire stocks/contents to be burgled at one time. Exclusions Some of the important Exclusions under the Policy are listed below: When your family member or staff is a principal or accessory in the incident. Act of persons lawfully on the insured premises. Acts consequent to fire, explosion, riot, strike, convulsions of nature like earthquake etc. War and nuclear risks.

Premises left unoccupied and unattended for over seven days. Loss of cash from safe using duplicate key, unless the key is obtained by threat or force. Any consequential loss.

Money Insurance Policy:


Scope of cover Money Insurance Policy is available to protect your business establishment against loss of money in Transit whilst being carried by an authorized representative by robbery, hold up or any other fortuitous cause. Money in premises during or after business hours - in safe Apart from the above, we also cover: Loss of or damage to your Safe, Strong room or Cash boxes or franking machines or cash bag or waist coat when such are used for the 'carriage of Money subject to a maximum of Rs. 10,000 Loss of personal Money or damage to clothing and personal effects of your Director or employee subject to a maximum of Rs.5000 Exclusions Shortage due to error or omission Loss of Money and/or damage to property entrusted to any other person Loss where you or your authorized representative is involved as principal or accessory except loss due to framing by cash carrying person (reported within 48"hours) Loss occurring on the Premises after business hours if cash has not been kept in a locked Safe or Strong room Loss occasioned by Riot, Strike and Terrorist Activity

Money carried under contract of affrieghtment Theft of Money from an unattended vehicle War, nuclear risks and orders of public authority Damage caused by wear & tear and depreciation Consequential loss of any kind Loss of Money and/or other property abstracted from safe following the use of key to the said safe or any duplicate thereof belonging to you unless such key has been obtained by force. Note: That a proper accounting record be kept at your end which we can inspect, this record and the duplicate keys be kept safely away from the safe or strong room where the money is kept. The premium is calculated on estimated annual carryings for money in transit For money in safe it is calculated on limit of any one loss

Rural Products:
Scope of cover The functioning of key equipment and availability of resources are critical for a farmer's success. Future Generali aims at providing an exclusive cover in the event of loss or damage to Agricultural Pumpsets. Comprehensive cover includes: Loss of or damage to Pumpsets due to Accidental fire, Lightning Sudden and unexpected mechanical or electrical breakdown, Riot, strike or malicious damage Reimbursement of cost incurred by the Insured for dismantling and erecting the Pump Set and transporting it to the closest repairer.

Exclusions Loss or damage due to wear and tear, gradual deterioration, atmospheric or climatic conditions, etc Any maintenance costs for the set or any replacement parts which are consumable in nature; The cost of rectifying functional failures unless due to an insured event under this Cover. Ionizing radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste War or War like conditions Earthquake, flood, storm, cyclone or other convulsions of nature or atmospheric disturbances Act of terrorism. Claim procedure:
Motor Claims Non Motor Claims Overseas Travel Claims Health Claims Personal Accident Claims

Motor Claims:
If any person is injured in the accident, attend to the person first. Give him the necessary first aid. Arrange to shift the injured to hospital. Inform police about the accident. Kindly keep following information ready before intimating the loss. Complete policy number

Insured Name and contact number Name of the driver driving the vehicle at the time of accident Place of accident Vehicle registration number Vehicle type & model Brief description of accident Date and time of accident Current location of the vehicle Move the vehicle to garage and we will depute the surveyor to assess the loss. Surveyor will get in touch with you. Hand over documents to surveyor / Garage Filled claim form with all mandatory fields. Copy of insurance-policy/ cover note. Copy of registration certificate, tax receipt, sales invoice (please provide original for verification). Copy of motor driving license (with original for verification) of the person driving the vehicle at the time of accident. FIR / Police Panchanama (For theft/third party property damage/death/bodily injury/Major Loses/) Estimate of repair from the repairer. Copy of Fitness certificate( applicable for commercial vehicle) Copy of Permit ( applicable for commercial vehicle) Copy of Load Challan (applicable for goods carrying vehicle)

Kindly Note: Shift the vehicle safely to the side of the road to avoid further damage or and intimate Future Generali Contact Centre for further advice. Surveyor will inspect the vehicle at workshop .It is advisable to be present in workshop during surveyors visit. Provide requisite document to surveyor as mentioned above. Please furnish original documents for verification wherever required. In case where vehicle is being repaired at Future Generali Convenient Workshops the payment will be made directly to the workshop and insured has to bear the difference amount as per policy conditions. Information about the approved claim amount and deductions on account of depreciation/excess if any will be made available to the garage before delivery of the vehicle. Insured may ask for the same from repairer. For all workshops except Future Generali Convenient Workshops, you are required to settle the bill with workshop and submit bills along with receipt to the Future Generali for claim settlement as per surveyor report. Submit bill to the surveyor or Future Generali office for claim settlement as per surveyor report. Claim settlement will take approximately 7 days from the date of submission of final document(s), provided all document(s) are in order. Do Not Make any compromise with any third party in case of an accident involving third party. Leave the vehicle unattended at the spot. Proceed with accident repairs before the vehicle has been inspected by the surveyor.

Overseas Travel claim:


If you are suffering from an illness / disease or meet with an accident which requires visit to the doctor or hospitalization, contact International SOS, a service provider appointed by us for your assistance. It is mandatory to intimate the claim to the service provider, even if you do not need any assistance and will be submitting a claim on your return to India. Claim if not intimated to the service provider is liable to get rejected. While intimating the claim, TPA may ask for certain information as mentioned: Policy Number Name of the Insured Address where insured is residing while abroad Complaints / Illness / Disease for which hospitalized Hospital name / location / date of admission if hospitalized Name of the treating / attending doctor Date and time of accident and brief description of accident along with place of accident (for accident cases) Name & contact details of person intimating the claim Contact no and e-mail id of insured for future correspondence On intimating the event as stated above, International SOS, as the case may be, will guarantee to the service provider the costs of hospitalization, transportation for emergency services, transportation home for you and any covered accompanying person and financial emergency assistance. All costs will be directly settled by the Service Provider on our behalf and the same shall constitute due discharge of our obligations hereunder.

In the event of Emergency Medical Evacuation and Repatriation of Mortal Remains, contact immediately to the International SOS Alarm Centre through Help Line. International SOS will assist you as the case may be and all costs will be directly settled by the Service Provider on our behalf and the same shall constitute due discharge of our obligations hereunder. In the event of assistance towards pre-trip information, Embassy referral, lost luggage, lost passport, Weather and exchange rate information, Emergency message transmission, Arrangement of hotel accommodation, Appointment with local doctors, and Dispatch of Essential medicine, contact International SOS through Help Line / Email. Reimbursement of all claims (except claims under Financial Emergency Assistance) will be made by the International SOS in Indian Rupees on your return back to the Republic of India, at the exchange rate specified by the Reserve Bank of India ,as applicable on the date the amount is billed. Claims under Financial Emergency Assistance shall be settled / arranged directly to you, whilst abroad, by the Service Provider. Claim documents must be submitted for reimbursement to the International SOS not later than one 1 month after the return date or the completion of the treatment or transportation home, or in the event of death, after transportation of the mortal remains / burial.

Health Claims Procedure:


If you are suffering from an illness / disease or meet with an accident which requires hospitalization, contact Third Party Administrator, a service provider appointed by us for servicing your health policy. It is advisable to get hospitalized in a Network hospital and undergo Cashless access. If you are not able to utilize the cashless access, pay the hospitalization expenses and submit the bills to service provider for Reimbursement. It is mandatory to intimate the hospitalization to your service provider through Email/ Toll Free Line / Fax. For more details visit the website of TPA

http://www.dhs-india.com http://www.phmhealth.com http://www.mdindia.com

While intimating the hospitalization, TPA may ask for certain information as mentioned: Policy No.
TPA Health Identity Card No.

Name of the Insured / Patient Group / company name & Employee No (for Group Mediclaim) Hospital Name & Location Date of admission Date of discharge (if known) Illness / disease for which hospitalized and treatment details. In case of an accident, mentioned information would be asked while intimation of hospitalization: Date & time of accident / loss Brief description of accident along with place of accident Name and address of police station if FIR filed Name of person who took insured to hospital Note: Hospitalisation if not intimated to service provider is liable to get rejected. Cashless Claims Procedure To avail cashless benefit, intimate the hospitalization through Preauthorization Request Form atleast 72 hrs prior to getting hospitalized. In case of an emergency hospitalization, you need to intimate within 24 hrs of hospitalization but before your

discharge from the hospital. You can collect the preauthorization request form from the hospital (billing department or a TPA co-ordination department). If not available at the hospital, you can download from the TPA website or collect from the nearest TPA office. Hospital will check for TPA ID card and any photo identity card for the reason of identity proof. Get the preauthorization form filled and signed by the treating doctor, put your sign on the form and hand over to the hospital for the process. Hospital will stamp the form and fax it to TPA for authorization. TPA will process the preauthorization request and authorize the reasonable amount for hospitalization based on policy terms and conditions. Authorization letter will be faxed to the hospital from TPA office and simultaneously you will be kept informed on authorization. Procedure to be followed at the time of discharge: Sign the final bill and check the bill for correctness. Ensure that all supporting documents are attached to the bill. You must pay all bills not associated with the condition for which hospitalization was authorized and the amounts towards non medical expenses. Retain a copy of the final bill and discharge summary.
Sign a Future Generali claim form filled in all respects and give it to the hospital

along with copy of all previous relevant consultation letters before discharge. Hospital will submit the claim documents to TPA office for claim processing.

Reimbursement Claims Intimate the hospitalization atleast 72 hrs prior to getting hospitalized. In case of an emergency hospitalization, you need to intimate within 24 hrs of hospitalization. Take the necessary treatment at the hospital and settle the hospitalization bills. Before getting discharge collect all original hospital papers (including discharge summary) and hospital bills. Submit the hospitalization documents (including hospital bills) to TPA office for claim processing within 7 days of discharge from the hospital. Claim settlement will take approximately 7 days from the date of submit of final document, provided all document are in order.

Pre-hospitalization and Post-hospitalization Claims Submit the claim documents to TPA office for claim processing within 7 days of completion of treatment. Claim settlement will take approximately 7 days from the date of submit of final document, provided all document are in order.

Personal Accident Claims Procedure:


If any person meets with an accident, attend the person first. Give him the necessary first aid. Arrange to shift the injured person to the nearest hospital. It is mandatory to intimate the accident to Future Generali through Keep the following information ready before intimating the claim Policy No. (Policy to be issued before registration if not done earlier)

Name & contact details of person intimating the claim Date & time of accident / loss Nature of loss, Place of loss and Brief description of loss Name of the hospital if insured is hospitalized Name and address of police station if FIR filed Name of person who took insured to hospital Contact no. and address if insured is not at the address given in the policy Designation and grade of the person and since when he is covered under the policy (for group policy) Name of attending physician and family physician e-mail id of insured for future correspondence Note: Accident claim if not intimated to Future Generali is liable to get rejected In case the insured is hospitalized, kindly collect all the hospitalization documents at the time of discharge. Submit the claim documents to Future Generali office for claim processing within 7 days of completion of the treatment. Claim settlement will take approximately 7 days from the date of submit of final document, provided all document are in order.

Chapter - 3 Methodology
Need of the study:
The ultimate goal is to find which educational institutions are having student insurance and of which general insurance companies. They provide a foundation in which you can start building relationship between the educational institutions and insurance company. Personal Accident insurance on educational institutions survey encourages me to get vital feedback on how the institutions are concerned about their students.

Objectives of the study:


To know whether the educational institutions who are interested to tied up with Future Generali. To get knowledge on different operations of company. Toknown the renewals process. To know about reimbursement during claims.

Scope of Study:
I have limited scope of study to the analyze of the personal accident insurance in educational institutions (B.Tech)located in Visakhapatnam We can get a sample of respondents from Visakhapatnam.

Conducting a survey prevents irritation and resistance from the respondents unlike those in case of doing a survey in an organization.

Research Design:
The present study includes exploratory approach to gather a huge amount of information before concluding the study. Both descriptive and causal approaches were adopted. The Future Generali India Insurance Co. Ltd, being an insurance sector requires a huge data collection, where in both primary and secondary data were used to maximum extent. The primary data collection includes Questionnaires, Personal Telephonic Interviews, etc., to draw information. The main objective behind was to get a deeper insight regarding the sales of individual health insurance through medical shops preference, rather than a particular way of thinking. As a result, various journals, web sites and books were collected as a part of secondary data.

Data collection method:


It is a process of collecting useful information. The fundamental aspect of sampling is fixing of sample size i.e., 25 how many medical shops should be surveyed? In order to get more reliable results, large samples are used rather than small samples. Sampling units: Sample units were the engineering colleges in Visakhapatnam. Sample Size: Sample size included had covered 25 engineering colleges

Methodology:
In this project the primary data is collected through a two questionnaire, one questionnaire which consists of 15 questions. Secondary data information was collected from journals,

magazines and company handbook and also with interaction with institutions in Visakhapatnam.

Limitations of the Study:


The limited period allocated for the survey is not sufficient to analyze the market. This is possibility of collecting biased opinions from the institutions. The survey is limited to area of Visakhapatnam only. Some respondents refused to give information.

Chapter: 4 Analysis of Study

Analysis on Insurance Awareness in Educational institutions


1. Does your institute has employee insurance Table 1:
Employee insurance No. of Respondents Yes No

2. Does your institute has student insurance

Student insurance No. of Respondents

Yes

No

3. Does your institute has vehicle insurance

Vehicle insurance No. of Respondents

Yes

No

4. Does your institute has property insurance

Property insurance No. of Respondents

Yes

No

5. Are you satisfied with the premium and service provided by the company
Satisfaction No. of Respondents Yes No

6. Do you know about different policies which are related to educational institutions
No. of Respondents Yes No

7. Do you know about different policies provided by insurance companies


No. of Respondents Yes No

8.How many claims did you made over the past five years
No. of Respondents Yes No

8. Do you think insurance is necessary or not


No. of Respondents Yes No

Chapter: 5 Findings, Suggestions, & Conclusion


Findings:
It was found that Future Generali Insurance capture market share in Vehicle Insurance policy which covers 60%, Engineering policy which covers 20%, Health Insurance policy which covers 10% and remaining other policies which covers 10%. It was found that neon sign and glow shine like some features only provided by Future Generali Insurance. It was found that Vehicle Insurance policy of Future Generali Insurance occupy largest market share. The Future Generali provides cheapest premium rates compare to other insurance companies. It was found that most households insurance depends on product. It was found that less than 02% problems faced by the customers are related with information. It was found that most of the customers consider company profile and different policies, before taking insurance. It was that security is the main purpose behind insurance.

Limitation of the project:


Only Individual Health Insurance & P.A policies were taken into consideration while conducting the market research of Future Generali and its competitors. This was due to limitation of time allotted for the study. The non disclosure of some vital information which could have been of some help in bringing forth certain other vital issues of importance. To visit whole area of Visakhapatnam, within 45 days time was very less. The finding emerged from the restricted only to Visakhapatnam region. Sometimes Medical Shop Owners may not provide us with the correct information. That was major problem which creates a barrier in the research is unawareness of Medical Shops and Customers about insurance policies.

Suggestions:
Service Quality This is the main factor which makes a insurance company customer-friendly: its overall service standards, related for ease of proposal form; how courteous, accessible and knowledgeable its staff are; claim settlement time for services; how innovation the insurance company is in introducing products and services; how quickly it handles the grievances; how likely it is to retain customers; and how probable it is that its customers will recommend the insurance company to others. The Future Generali is offering better customer service compare to the other compititors.

Branch Facilities Walk into any branch of a multinational or leading Indian insurance company, and youll believe youre in a country club. Many other insurance companies, of course, have mile to in this sphere, but theres a growing realizations among them that offering a pleasant insurance experience with comfortable seating, air-conditioning, restroom and drinking water facilities. Market potential with an ongoing nation economy, insurance-sector reforms and a growing middleclass, the Indian market offers huge potential for FUTURE GENERALI INSURANCE to grow. The large and growing middle class population and increase in disposable incomes have created booming markets in housing, motor, televisions, computers, mobile phones and other products, most of which require insurance. FUTURE GENERALI INSURANCE has been effective in leveraging this opportunity with its product and service offerings. The road ahead after so many years of service to Indian, FUTURE GROUP continues to be committed to the country and optimistic of positively contributing to the Indian economy. The FUTURE GROUP considers India to be one of the greatest economic opportunities of the 21st century and is proud to be so strongly positioned here. The FUTURE GROUP has ambitious plans to transform its business in the country and to further expand operations across the country.

Conclusion
Service with a promise: todays insurance customer will settle for nothing, expect the better service with a broad promise. And then they will realize that they are the king. They will not confine themselves with the world class products and services but they also need a broad platform where they can make different choice. Their choice of one entity over another insurance company is determined by considerations of service quality rather than any other factor. They want competitive premium rates, yes, but them also wants their claim or renewal applications etc to be processed in double-quick time. They cherish the conveniences of impersonal net insurance, yes, but during their occasional visits to the branch, they also want the comfort of personalized, human interactions and facilities that make their insurance experience pleasurable. But they also needs that their grievances should be settling as soon as possible. In short, they want a security house that will more than just issue the policy and settles their claims: they want an insurance that cares and for more than just their custom. They want a customer-friendly insurance company.

Bibliography Bibliography:
Books:
Hand books of company, IRDA issued books, Magazine, Journals,

Links:
http://www.futuregenerali.in/GeneralInsurance/RetailProducts/HealthInsuranc

e/HealthSurakshaIndividual.aspx?gclid=CLn2166RurACFU8b6wodOyOq6A http://www.dhs-india.com
http://www.phmhealth.com

http://www.mdindia.com

Annexure Survey on Individual Health Insurance


1. Age a) 18 24 years b) 24 36 years c) 36 45 years d) Above 45 years 2. Gender a) Male b) Female 3. What is the average annual income? a) Below 1,00,000 b) 1,00,000- 3,00,000 c) Above 3,00,000 d) Confidential 4. How would you rate your current health condition? a) Very healthy and fit b) Somewhat fit c) Have mild health issues d) Have major health issues e) Suffer from poor health

5. Have you recently undergone any medical checkup? a) Yes b) No 6. Do you have health insurance? a) Yes b) No 7. What are the medical expenses for coming 10 years for your family? a) 25,000 b) 50,000 c) 75,000 d) 1, 00,000 above

8. Do you have any specific cover for the critical care diseases? a) Yes b) No 9. Does the health insurance company offer cover for the following? a) Pre & Post coverage b) Inpatient care c) Day-care procedure 10. Are you aware of the various health insurance plans available? a) Yes b) No

11. Any idea that health policy pays daily? a) Yes b) No 12. Do you think health insurance is required? a) No need b) Low need c) Relatively high need d) Extremely high need 13. Which risks according to you are at the top of your list? a) Illness/Diseases b) Accidents 14. Which of the following insurance plans do you have? a) Health insurance b) Life insurance c) Home insurance d) Auto insurance e) Travel insurance f) Disability insurance g) Business insurance

Survey on Medical Shops

1. In which year the shop was established? ______________________________

2. Do you have medical insurance? a) Yes b) No

3. What is your opinion on medical insurance? a) Essential b) Not-Essential

4. What are the medical expenses for coming 10 years? a) 25,000 b) 50,000 c) 75,000 d) 1, 00,000 above

5. Are you ready to sell the insurance to your customers? a) Yes b) No

6. Are you ready to take policies of these five companies? a) Future Generali b) Bajaj Allianz c) Star Insurance d) United India Insurance e) New India Assurance

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