DISSERTATION REPORT

ON
CONSUMER BEHAVIOR TOWARDS BIRLA SUNLIFE INSURANCE LIMITED
In Partial Fulfillment for the Requirement Of The Degree Of MASTER OF BUSINESS ADMINISTRATION

UTTRANCHAL INSTITUTE OF MANAGEMENT

AFFLIATED TO UTTRAKHAND TECHNICAL UNIVERSITY (Batch 2008-2010) Submitted to: Submitted by

PREFACE
Summer training is a part of MBA curriculum, which a student has to undertake after the completion of IInd semester. This project is based on identification of training needs. Firstly it contains the overall introduction of ADITYA BIRLA GROUP , the various activities undertaken by it and finally about its new opening as BIRLA SUN LIFE INSURANCE LTD.

Eventually, it will discuss the sources from where the information has been gathered.

CERTIFICATE
I have the pleasure in certifying that Mr. Neeraj Kumar is a bonafide student of MBA III semester of the Master s Degree in Business Administration of Uttaranchal Institute of Management, Dehradun under Class ID No. 89MB0088

He / She have completed his/her Summer Training Project work entitled CONSUMER BEHAVIOR TOWARDS BIRLA SUNLIFE INSURANCE LIMITED under my guidance.

I certify that this is his/her original effort and has not been copied from any other source. This project has also not been submitted in any other university for the purpose of award of nay degree.

This project fulfills the requirement of the curriculum prescribed by Uttarakhand Technical University, Dehradun for the said course.

Signature: Name of the Guide: MRS. TWEENA PANDAY

CONTENTS

1. Introduction 2. Objective of the study 3. Review of Literature 4. Research Methodology (a) Sample Size (b) Method of Sampling (c) Area of work (d) Parameters of study (e) Method of Data collection (f) Tools (g) Limitations 5. Analysis & Findings 6. Recommendations 7. Conclusions 8. Bibliography

DECLARATION

This project has been undertaken during the summer break as a summer trainee, after the completion of the second semester under the guidance of Mr.

...

Further I would like to declare that this project is my original work and has been prepared solely for academic purpose.

This project has not been presented in any seminar or submitted elsewhere for the award of any degree or diploma.

ACKNOWLEDGEMENT

Behind every study there stands myriad of people whose help and contribution make it successful.

It has been a remarkable experience of satisfaction and pleasure for me to work out my project under the supervision..of..the.................................................................... I am really thankful to him for his valuable guidance and co-operation during the project work.

I had also benefited from discussions and would also take the opportunity to thank the persons of the company for their valuable support and assistance whenever and wherever needed. A cordial and encouraging environment made it very easier for me to complete the project.So this acknowledgement is a humble attempt to earnestly thank him and all those who were directly or indirectly involved in preparation of this project.

INTRODUCTION

Type Founded

Public 1945

Headquarters

INDIA Mr. Kumar Mangalam Birla (Chairman), Mr. Sanjeev Aga (Managing Director) Hindalco Industries Ltd. Birla Copper Birla Cement Aditya Birla Nuvo Ltd. Grasim Industries Ltd. Information Technology Sector Indo Gulf Telecom ( Idea ) Essel Mining & Industries Ltd. Aditya Birla Insulators Birla Sunlife Insurance Company MUTUAL FUNDS LIFE INSURANCE GENERAL INSURANCE 1,30,000 http://www.adityabirla.com/

Key people

Industry

Products

Employees Website

SUNLIFE A PART OF ADITYA BIRLA GROUP

Adiya Birla Group is a league of Fortune 500 and having 1,30,000 employees belong to 30 different Nationalities serving in 20 different countries.

In India the group has been adjudged THE BEST EMPLOYER IN INDIA & AMONG THE TOP 20 IN ASIA by Hewitt Economics Times and Wall Street Journal Study 2007.

Idea Cellular is part of the Aditya Birla Group, which is India's first truly multinational corporation. Global in vision, rooted in Indian values, the group is driven by a performance ethic pegged on value creation for its multiple stakeholders.

Being a part of ADITYA BIRLA GROUP and under the Chairmanship of Mr. KUMAR MANGALAM BIRLA. & the first one to win GSM Association Award for Bill flash. SUNLIFES footprints currently cover over approximately 45% of Indias population & over 50% of potential INSURANCE-market

COMPANY PROFILE

Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada. The joint venture brings together the Aditya Birla Group's experience in the Indian market and Sun Life's global experience.

Established in 1994, Birla Sun Life Mutual fund has emerged as one of India's leading flagships of Mutual Funds business managing assets of a large investor base. Our solutions offer a range of investment options, including diversified and sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range of debt and treasury products and offshore funds.

Birla Sun Life Asset Management Company has one of the largest team of research analysts in the industry, dedicated to tracking down the best companies to invest in.

The Aditya Birla Group

The Aditya Birla Group is one of India's largest business houses. Global in vision, rooted in Indian values, the Group is driven by a performance ethic pegged on value creation for its multiple stakeholders. The Group's operations span 66 state of the art, straddling India, Thailand, Malaysia, Indonesia, Egypt, Philippines, Canada, Australia and China.

A US $28 billion corporation with a market cap. of US $31.5 billion and in the League of Fortune 500, the Aditya Birla Group is anchored by an extraordinary force of 100,000 employees, belonging to 25 different nationalities. Over 50 per cent of its revenues flow from its operations across the world.

The Aditya Birla Group is a dominant player in all its areas of operations viz; Aluminium, Copper, Cement, Viscose Staple Fibre, Carbon Black, Viscose Filament Yarn, Fertilisers, Insulators, Sponge Iron, Chemicals, Branded Apparels, Insurance, Mutual Funds, Software and Telecom. The Group has strategic joint ventures with global majors such as Sun Life (Canada), AT&T (USA), the Tata Group and NGK Insulators (Japan) .

Sun Life Financial

Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda.

MISSION STATEMENT

Chairman (Aditya Birla Group)

BOARD OF DIRECTORS
Mr. Ajay Srinivasan Chief Executive Financial Services Aditya Birla Group

Mr. Srinivasan holds a Bachelor of Arts degree with Honours in Economics from St. Stephens College, University of Delhi and an MBA from the Indian Institute of Management, Ahmedabad. He is the Chief Executive, Financial Services and Director, Corporate Strategy and Business Development at the Aditya Birla Group since July 2007. In his role as Chief Executive, Financial Services, Aditya Birla Group, he sets the strategic direction and vision and provides operational leadership for the Groups Financial Services business. In his role as Director, Corporate Strategy and Business Development, he directs and strategies on business portfolio issues for the Aditya Birla Group focusing on the long-term sustainability, profitability and value creation of the Groups businesses. Prior to joining the Aditya Birla Group, Mr. Ajay Srinivasan was associated with Prudential Corporation Asia, Threadneedle Asset Management, etc. at senior levels. With a proven track record for building successful businesses, his experience in the financial services industry spans almost two decades.

Mr. Bishwanath Puranmalka Director Financial Services Aditya Birla Group

Mr. Puranmalka is a commerce and law graduate and also a Fellow member of the Institute of Chartered Accountants of India and Institute of Company Secretaries of India. He is the Director of Aditya Birla Group Financial Services and has a total working experience of more than 45 years. He has been associated with the Aditya Birla Group in various capacities since the inception of his career. He has a rich experience in implementation and running of several manufacturing, training, service industry business and setting up Greenfield manufacturing operations. He is on the Board of various companies.

Mr. Donald Stewart Chief Executive Officer Sun Life Financial

Mr. Donald A. Stewart graduated from the University of Glasgow in 1968 with first class honours in Natural Philosophy. He joined Sun Life Financial in 1969 in London, England, and qualified as a Fellow of the Institute of Actuaries in 1972. In 1974, he left the Company to pursue a career in benefits consulting, ultimately joining William M. Mercer in Toronto. Mr. Stewart rejoined Sun Life Financial in 1980 with overall responsibility for the Canadian pension division, where he led six years of rapid growth. In 1986, Mr. Stewart led the project team to launch the Companys Canadian mutual fund operation. From 1987 to 1992, Mr. Stewart held overall responsibility for information Technology at Sun Life Financial. During this period, he completed the Advanced Management Program at Harvard Business School. As Chief Executive Officer of Sun Life Financials trust operations from 1992 through 1995, Mr. Stewart restored profitability via re-structuring and reengineering. In May 1995, Mr. Stewart was appointed Senior VicePresident & Chief Actuary. His appointment as President & Chief Operating Officer followed in 1996.

Mr. Stewart was appointed Chief Executive Officer of the Company in April 1998. Then, in March 2000, he led the demutualization of Sun Life Assurance Company of Canada with the successful IPO of Sun Life Financial on the Toronto, New York and Philippine stock exchanges. He is a member of the Board of MFS Investment Management and Sun Life Assurance Company of Canada (U.S.)

Mr. Venkatesh Mysore Country Head India Sun Life Financial, Asia

Mr. Mysore holds a BA with Honours in Economics and an MBA from University of Madras. He also holds the professional designation of Chartered Life Underwriter (CLU) American College, Philadelphia, PA. He is the VicePresident and Country Head, India of Sun Life Financial-Asia since January, 2007.

Prior to this, Mr. Mysore was the CEO & Managing Director of MetLife India. He was responsible for the start-up of the India venture. Mr. Mysore spent over 21 years with MetLife. He immigrated to the U.S.A. in 1985 and joined MetLife as a sales representative. Since then, he held several positions of increasing responsibility within MetLife.

Mr. Mysore was the Chairman of The American Chamber of Commerce (AMCHAM) Bangalore Chapter for the year 2002 2003. Several new members were inducted during his tenure. The AMCHAM invitational Golf Tournament was one of the many well-appreciated events rolled-out under his leadership. Other noteworthy contributions included arranging interactive sessions with key industry leaders and academicians as well as community and socialdrives.

Mr. Gian Gupta

Mr. Gupta holds a Masters in Commerce from University of Delhi. He is a director on the Board of the Company and is the independent director on the Board of Aditya Birla Nuvo Limited (holding company of BSLI). He is also a member of the Audit Committee, Finance Committee and Share Allotment Committee of the Company.

Mr. Gian Prakash Gupta has been the former Chairman and Managing Director of Industrial Development Bank of India & Chairman of Unit Trust of India. He has wide and rich experience in Project Financing including Infrastructure projects, Capital Market, Financial Management and General Management. He is on the Board of various companies.

Awards
At Birla Sun Life Insurance, winning is a way of life. Our innovative solutions and customer-friendly services have been admired, appreciated and rewarded by customers and the industry at large.

TEAM WORK

Senior Management Mr. A. Balasubramanian - Chief Executive Officer

Mr. Balasubramanian is the Chief Executive Officer for Birla Sun Life Mutual Fund. He has been with BSLAMC since its inception. He has more than 17 years of experience in the Capital Market. He joined BSLAMC as Chief Dealer/Trader, managed Hybrid Funds and moved on to Head Fixed Income group. He has also held the position of Country Head for Sales and Distribution before becoming the Chief Investment Officer and now also heading BSLAMC as the Chief Executive Officer. During the last several years, under his leadership, Birla Sun Life Mutual Fund haswon several awards for delivering the best performance from external agencies such as CRISIL TV18, BNP Paribas, ICRA and Reuter Lipper. In the financial year 2008-09 with him as the CIO, BSLAMC won the coveted Mutual Fund House of the Year second time in a row becoming the only fund house in India to achieve this feat as also being adjudged the best Onshore Fund HouseIndia by the Asian Investor magazine. Prior to joining BSLAMC, he has worked with GIC Mutual Fund as Senior Trader and Canbank Financial Services as Senior Executive.

He has also been associated with Association of Mutual Funds of India as various committee members viz. Valuation Committee. He also has been part of SEBI Committee on Review of Eligibility Norms.

He has delivered guest lectures at SIES, Mumbai, IIM Bangalore for Executive Education Programme, Dalmia Institute of Management and Narsee Monjee Institute of Management. Mr. Balasubramanian has done DFM and AMP from IIM Bangalore in addition to Bsc in Mathematics.

Mr. Kalpen Parekh - Co-head, Retail Sales MMS (Finance), BE Chemical Has over 9 years of experience in Retail Sales & Distribution. Prior to joining BSLAMC worked with ICICI Prudential Asset Management Company Ltd. as Jt-head Retail Sales & Distribution. He also worked with L&T Finance Limited as Dealer (Money Markets).

Mr. Navin Tewari - Co-head, Retail Sales C.A., B.Com Has over 12 years of experience in Retail Sales & Distribution. Prior to joining BSLAMC worked with ICICI Prudential Asset Management Company Ltd. as Jt-head Retail Sales & Distribution. He also worked with Aviva Life Insurance Co. (I) Ltd. and Birla Sun Life Distribution Ltd.

Mr. Sarb Preet Singh - Vice President Institutional Sales B. Com., M.M.M. Has over 14 years of experience. He has been promoted from position of Asst. Vice President Sales Head (North Zone). Prior to this he held various positions in Sales function of Birla Sun Life Asset Management Company.

Mr. Rahul Parikh - Head Business Development B.E (Production), MMS (Marketing) Prior to joining Birla Sun Life Asset Management Company, worked with ICICI Prudential Asset Management Company in various capacities as Head Banking and Distribution, Strategy and Business Development, Sr. Manager Business Development and business support and Manager Retail Sales and Distribution. He has also worked with Tata Motors and Larsen & Toubro.

Mr. Ashok Suvarna - Chief Operations Officer MBA (Finance), B. Com Has over 15 years of experience in Mutual Fund Operations. Prior to joining Birla Sun Life Asset Management Company worked with ICICI Prudential AMC Ltd as Head- Operations. He also worked with SBI Funds Management Limited handling Operations.

Ms. Molly Kapoor - Head- Customer Service M.A. (Economics), PGDBM- NMIMS, Mumbai She has over 11 yrs of work experience in Service & Operations. Out of which 9 yrs in MF industry. Prior to joining BSLAMC, was at ICICI Prudential Asset Management Company as AVP- Customer Service. Prior to that, she has also worked with Karvy Consultancy for BSLAMC.

Mr. Bhavdeep Bhatt - Head Products B.com, MBA (Finance) Has over 12 years of experience. Prior to joining Birla Sun Life Asset Management Company worked with ICICI Prudential AMC Ltd as Head Products and communication. He has also worked with Kotak Mahindra AMC Ltd and Kiran Motors Ltd.

Mr. Sanjay Singal - Chief Marketing Officer B. Sc., MBA Mr. Sanjay, prior to joining Birla Sun life Asset Management Company, has worked with GE Money Financial Services Ltd as the Chief Marketing Officer and Head of E-Business and Pricing. He has also previously worked with Yum Restaurants International Limited as the Senior Marketing Manager and with Unilever Asia in various capacities including Regional Group Innovation Manager Dove Skin, Asia (based in Thailand), Senior Brand Manager (Fair & Lovely), Customer & Channel Manager (Personal Products) and National Sales Manager.

Mr. Chandrashekhar Chavan - Head - HR & Administration Masters in Personnel Management & Industrial Relations Work experience of approx. 12 years includes assignments with Hindalco-Business HR and Corporate HR of the Aditya Birla Group. Also includes prior experience with Wipro BT.

PHILOSOPHY

Birla Sun Life Asset Management Company follows a long-term, fundamental research based approach to investment. The approach is to identify companies, which have excellent growth prospects and strong fundamentals. The fundamentals include the quality of the companys management, sustainability of its business model and its competitive position, amongst other factors.

VISION
To be a leader and role model in a broad based and integrated financial services business.

MISSION

To consistently pursue investor's wealth optimization by:

Achieving superior and consistent investment results. Creating a conducive environment to hone and retain talent. Providing customer delight. Institutionalizing system-approach in all aspects of functioning. Upholding highest standards of ethical values at all times.

VALUES
Integrity Commitment Passion Seamlessness Speed

OUR SERVICES
The services provided by the religare securities:

1. Equity trading:a. Account opening b. Online/Offline trading c. Research

2. Commodity trading:a. Account opening b. Online/Offline trading c. Research

3. Depository services :a. b. c. d. e. Account opening Demat Delivery instruction slip processing Pledge / Hypothecation instruction processing Provided holding statement /Transaction statement

4. Distribution of mutual fund 5. Distribution of insurance 6. I.P.O distribution 7. Portfolio management services 8. Investment Banking

SWOT ANALYSIS

Environmental Scan / Internal Analysis /\ \ External Analysis /\

Strengths Weak Opportunities nesses Threats | SWOT Matrix

STRENGTH:

y IT IS A ADITYA BIRLA GROUP COMPANY y DIVERSE PORTFOLIO AND LOTS OF PRODUCTS UNDER ONE ROOF y ATTRACTIVE BRAND y NO MAINTENANCE CHARGES

WEAKNESS:
y NON PERFORMING WEBSITE AS REPORTED BY CUSTOMERS y CUSTOMER CARE CELL PERFORMANCE IS NON SATISFACTORY IN NATURE y NO PROPER ADVERTISEMENT OF THE COMPANY WHERE MAXIMUM CUSTOMERS DONT KNOW ABOUT IT

OPPORTUNITY:
y IN UPCOMING DAYS RELIGARE IS COMING WITH THEIR OWN BANKING POLICIES

THREATS:
y AS THEY HAVE CHANGED THEIR NAME THE CUSTOMERS STILL DONT KNOW ABOUT IT. THIS MAY CAUSE THE LOSS OF SOME POTENTIAL CUSTOMERS

OBJECTIVE

The objective behind the study shows the importance of the study. It further clarifies the reason as to why the study is been undertaken. Every study has certain objectives for which it is undertaken. These frame the basis of the study and they show the cause of the study. The objectives of the study are given below

 THE MAIN OBJECTIVE IS TO SELL THE PRODUCT WORTH RS.10, 000.

 TO LEARN AND TO DEVELOP THE INTERPERSONAL SKILL IN TERMS OF CORPORATE CULTURE.

 TO STUDY THE CONSUMER BUYING BEHAVIOR TOWARDS THE BIRLA SUN LIFE INSURSNC

ACHIVEMENTS
Week no1 We were able to understand the functions of Marketing which gave me a lot of satisfaction as it is my specialization I was able to grasp a lot.

Week no 2:In the second week we were able to understand the daily, monthly and annual duties performed by employees of the organization.

Week no3:We were taught about the marketing techniques and to analysis the share market from the information that was published in the newspaper that would help in convening the customer in buying the product.

Week no.4:We were made to learn the importance of timely communication with the customer and as well with the relationship manager.

Week no 5:We understood the importance of training and told about the preparation of daily sales report that would help us in maintaining the follow up for the future so that we may reach the customer on time without any delay.

Week no. 6:We learnt the concept of marketing and the techniques that would help us to attract the customer and what all thing that are to be told to them and what all thing that are not to be told to customer.

Week no. 7 &8:I come to know about the consumer behavior towards the BIRLA SUN LIFE INSURANCE THROUGH A SURVEY.

FIRM NAME ADDRESS PHONE NO. Bharat sports co. GMS road 9358037555 Mehak family restaurant Sharanpur road 9897055578 The Finesse institute Astley hall 0135-2650903 Ample consultant Cannaught place 9837046728 Reliance communication Nehru colony 9358100142 Hotel Pathik Bengali library road 9831602608 Ginger n Garlic Rajpur road 0135-2655773 Amritsar eye clinic Municipal road 0135-2650585 Style check Rajpur road 0135-2742999 Cadd center Subhash road 9335226125 Creation placement Raj plaza 9412992371 Doon institute of English language Near telephone exchange 0135-2714734 AHA Institute Rajpur road 3205085 Om care system Rajpur road 9897744040 Rank trading Rajpur road 9837003032 Hawk security Raj plaza 9837473298 Aggarwal packers and movers Indra nagar 9319664321 Jai shree balaji packers Transport nagar 9359813040 Homecare packers and movers Transport nagar 9319924354 George institute Nimbu wala 0135-2623555 Academy of broardcasting Subhash nagar 9319422856 Lakshayrajpur road Subhash road 9412055897 Rajdhani electronics Papal mandi 0135-2621822 Mahar Rajpur 983704647 Janasheen Rajpur road 9719617918 Himalayans gardens Rajpur road 9358125742 Institute of accounting&technorajp[logy Satya complex 9411527237 Doon institute of English language Rajpimalaya public schoolu135-2714734 0 Saraswati institute of accounts Subhash road 9719114520 Anupamma agencies Nehru colony 9837084150 Om care system Meedo aecade 9897744040

Himalaya public school Make over finishing school S.R enterprise Hotel Maggi star Sushil department store The ayurvedic shop Osho resort DTDC courier services Zed security Wasu enterprises Sky marketing Hotel Gaurab Hotel Pacific Hotel Aketa Reliance Communication Hotel Great value Hotel Lalit palace Nautiyal marbels Akash institute Rajdhani emporium Vega Aim investment consultant Walia jewellers Tycoon showroom Big master Hotel Ashrey Frontier electronics Rohan motors Agarwal furniture Comfort tours and travels Shree balaji assosiates Amazon institute of hotel managment Baba farid institute Institute of education Dolphin institute Hotel Viceroy inn Hotel Atithi Shree balaji telecom Pal merchants

Ghari cantt E.C road Raj plaza Rajpur road Paltan bazaar Dhamawala Rajpur road Jakhan Ajabpur Ballupur Mohebewala Gandhi road Subhash road Rajpur road Cannaught palace Rajpur road Kishan nagar Niranjanpur Rajpur road Chakrata road Rajpur road Tilak road Paltan bazar Rajpur road GMS road Tyagi road New market Yamuna colony Patel nagar Clock tower Suthowalaa Sehastrdhara road Mathura wala Ghari cant Premnagar Niranjan pur Tyagi road Capri trade center Press road

0135-2720362 3259000 9412992986 9761679842 0135-2655976 9412057959 0135-2749522 9897026441 9719109578 0135-2726583 0135-2644354 0135-2654215 9319072032 0135-2744302 9358444777 941138836 0135-2755313 9412058741 3298168 9412054311 0135-2740201 9897248296 9897131212 0135-2743900 9897411277 9358101133 0135-2655405 9897461313 0135-26543422 9837014385 9897211645 9412967633 9412967633 921967633 9219604549 9412054742 0135-2627246 9837765773 0135-2743211

Hotel Kamal palace Hotel Deepshika Computer mall Rajdhani furniture Hotel Sangam Hotel president Hotel moti mahal Black pepper Hcl compound Sky academy All India institute of Aeronautics Navyug college of education Vlcc health care Kaveri jewellers Sai instrumentation Hindustan sports K7 resort BPL enterprises Sai Institute of education Doon college of education Vishal assosiates Baluni classes Pryas IAS acadmy Smartech services Prakash enterprises Mehul enterprises Doon fan traders Amar builders Saft school of art and fashion DCMTE Institute Amar sons SRM Infotech Fun valley Doon kitchen Oberoy motors Sanage Amrit eyeclinic Hotel Park view ACCESS computers

GMS road Rajpur road Capri trade center Moti bajar Tyagi road Astley hall Rajpur road Astley hall Patel nagar Rajpur road Kishan nagar Chakrata road Rajpur road Dhamawala Araghar Paltan bazar Premnagar Chakrata road Rajpur road Rajpur road Mohebewala Dharampur Nehru colony Clock tower Tagore villa Tagore villa Paltan bazar Cannaught palace Subhash road Subhash road Rajpur road Rajpur road Rajpur road Patel nagar Majra Friends plaza EC road Rajpur road Kanwali road

0135-2720596 0135-2659888 9219698384 329063714 0135-2725336 9837356294 0135-2657307 989778802 9927555555 9259175274 9837771784 9897337536 0135-2743021 9358111740 9837023957 0135-2650315 9412051020 0135-2714749 9412009850 9412007140 9897106221 9837202057 3292261 9412055317 0135-2711960 9897168902 0135-2712273 9837001826 9358121660 9412955529 0135-2657811 9917066655 9219657499 9259284440 9837014255 9412004169 0135-2650585 0135-2653231 9412050684

Doon scientific instrument Virendra & co. British institute of engeneering Institute of pharama management. Sagar institute Ganpati jewelers Narayana IIT academy Blue mountain college IAHT academy Doon west electronics Samiksha enterprises Balaji pest control IAS academy Chip infonet Signature solutions Times world school Sagar institute of education Center furniture Landmark foundation Aviation academy Maurya group of education Eureka forbes FCI institute Muthoot finance Forber modular kitchen Share khan Polaris academy Shiva fitness point Horizon computers Human touch Senso hearing center Gyani Indersingh Institute

Tilak road Astley hall Kalidas road Capri trade center Rajpur road Clock tower Rajpur road Shastrdhara road Rajpur road GMS road Nehru colony Neshvila road Race course Capri trade center Rajpur road Indra nagar Rajpur road Niranjanpur Vasant vihar Karanpur Subhashroaad Astley hall Rajpur road Doon plaza Dwarika store Haridwar road Chakrata road Racecourse Meedo plaza Niranjanpur road Rajpur road Rajpur road

9837170482 0135-2653791 9412075419 9837046154 9319258240 9319234872 6451183 3094887 9997844272 9219607787 9412052988 0135-2652232 939603998 0153-2622585 9897336539 9219516838 9319258240 9319495671 9412348560 9412989643 9719433024 9837849510 9412051828 9837591013 9358101077 9897033996 9837654292 9219619998 9837072729 0135-2721392 0135-2654276 3293048

STRATEGY

My strategy for achieving the target they are follows given below.

The first strategy is cold calling. To meet the customer and try to know the need of the customer, give the knowledge about our product, If the customer is interested to listening then we are going to forward. And try to take some references from the customer. Second strategy is telephone calling. Talk to the customer and try to convince for taking our insurance plan, dmat a/c, commodity a/c, sip and etc. To achieve any target, an individual should do a proper planning & according to the plan, I should make . As BIRLA SUN LIFE INSURANCE limited is a reputed company, But we do not have been provided any data, so firstly I use my references to sell the insurance policy & dmat a/c of the company. As I have My references, so firstly I decided to go to my relative & friends explain them about my company & its policy & convince them for product. From my references I got 1 insurance policy & I ask them for more references & their contact no. I also went to the customer directly and tell them about the plans of the company but they refuse me by giving many excuses. y Pre-approach: before approaching the customers we should have knowledge about the products.

y To make direct interaction with customers & make them aware about the products & services offered.

y To make a comparative study to know the competitiveness of our product in the market. y Cold calling to customers on random basis. y Identifying the needs of customers.

PROCESS
y Cold calling to prospects on random basis. y Fixing the appointments. y Follow up the interested prospects y Identifying the needs of customers.

MARKETING PROCESS

Marketing departments core role is to be a brand custodian so that subscribers as well as the prospective users of Idea build a relationship with the company they deal with. Brand identity created and nurtured by marketing.

Marketing also plays a role of identifying emerging business opportunity in a competitive/regulatory context, as well as based on the technology innovations taking place.

It is Revenue enhancement, Acquisition shares, Shared role in churn reduction & creating and maintaining brand image such that it continues to be relevant to the target audience.

Enterprise Business Unit: Insurance Business I broadly divided into Corporate and Individual customers. Corporate essentially means organizations with large manpower base and high communication spend. This gives us the opportunity to focus on acquiring quality customer in bulk and gain higher revenue.

The new emerging segment is SME (Small & Medium Enterprises), which hold tremendous opportunity to increase our revenue and quantity subscriber due to the size of the segment.

Channel Management:
The objective of Channel Management is to make Sunlife insurance distribution network a source of sustainable competitive advantage for the company.

Towards this objective, Channel Management would primarily be responsible for:

1. Grow acquisitions through implementing best in class processes and developing new channels 2. Reduce cost of acquisition and servicing through improved channel productivity and use of MIS. 3. Creating a positive customer experience at each of the touch points. 4. Support in brand building through point of sale visibility

Mr. Sanjay Singal - Chief Marketing Officer B. Sc., MBA

Mr. Sanjay, prior to joining Birla Sun life Asset Management Company, has worked with GE Money Financial Services Ltd as the Chief Marketing Officer and Head of E-Business and Pricing. He has also previously worked with Yum Restaurants International Limited as the Senior Marketing Manager and with Unilever Asia in various capacities including Regional Group Innovation Manager Dove Skin, Asia (based in Thailand), Senior Brand Manager (Fair & Lovely), Customer & Channel Manager (Personal Products) and National Sales Manager.

HUMAN RESOURCES
HR function Birla Sunlife Insurance consists of four dept namely,

1. 2. 3. 4.

Human Resource Operations Management Development Facilities Management Total Quality Management

BSLI HR POLICIES

FUNCTIONS OF HUMAN RESOURCE DEPARTMENT:

1. HR looks after Recruitment, Interviews and Selection, Manpower Planning. 2. The Hr team is responsible for performance-management, compensation benchmarking,Taxability,Payroll management, Reward & recognition, and HR policies and processes.

3. Hr is primarily responsible for Organsation structure design ,Employee satisfaction surveys,Budgets,HR MIS ,OD Interventions,Job Evaluation,and performance appraisal.

FINANCE
The finance department is responsible proper financial management of the company. primarily for the

The essential function of a typical finance department can be categorized into two broad functional categories.

1) Recurring Finance Functions

Performing the regular finance functions that include financial planning including assessing the funds requirement, identifying and sourcing funds, allocation of the funds and income and controlling the use or utilization of funds towards achieving the primary goal of profit/wealth maximization.

2) Non-Recurring Finance Functions

Performing the non-recurring functions include, though not exclusively, the preparation of financial plan at the time of promotion of the business enterprise, financial readjustment during liquidity crisis, valuation of enterprise at the of merger or reorganization and such other episodic activities of great financial implications.

ANALYSIS.OF.PERFORMANCE Vs. TARGET.REASON FOR VARIANCE

 Our SIP started on 24th March we got training for thirteen days and from 1st of June we started our job work.

 In the month of April I was given the target to generate premium of worth Rs 30000 in a week, but it is very shame to say that I could not even sell a single policy but during that time I thorough studied the products and made cold calling, after that I generated one dmat & two genral insurance policy worth Rs 28,000 in the month.

 In the month of May premium of 1,20000 was to be generated but I could sell policy worth Rs 68,000 only.

 In the month of June premium of 1,20000 was to be generated but I could sell policy worth Rs 60,000 only.

 Reason was, I was new in the market , people did not trust quickly and lack of convenience.

RESEARCH METHODOLOGY

STUDY
The present investigation is a descriptive type of study undertaken to estimate the comparative study pension plan of, BIRLA SUN LIFE, BAJAJ ALLIANZ, LIC. HDFC SLIC.

SAMPLE SIZE
For the purpose of analysis a sample size of different companies were selected. The sample size taken was 4.

SAMPLING METHOD
The sampling method used for the project was Random Sampling . This type of sampling is also known as probability sampling where each and every item in the population has an equal chance of inclusion in the sample and each one of the possible samples. This procedure gives each item an equal probability of being selected.

DATA COLLECTION

SECONDARY DATA

The secondary data was collected by referring through web sites, and the final data was analyzed systematically to achieve the desired result.

DATA ANALYSIS AND INTERPRETATION

After analyzing the data above in the table we came to the following interpretation. Interpretation has been done on the basis of the features mentioned in the table.

1.

AGE AND TERM OF POLICY: Since the minimum age is minimum in

BAJAJ ALLIANZ and the term depends on the customer. The customer has probability of getting the maximum returns (all other things being equal). And Birla Sun Life is offering investment for maximum 30 years which is rated as second best in this feature.

2.

SWITHCHES: After analyzing the feature the conclusion drawn is that

Birla Sun Life is offering the most switches in the year.

3.

CHARGES: The charges levied on the policy of the insurer is lowest in

Birla Sun Life SLIC like FMC, PAC, but initial charge is second lowest which is also not bad in terms of investment.

4.

WITHDRAWALS: Withdrawals not allowed in BIRLA SUN LIFE because if

withdrawals are there plan would not yield good return.

5.

INVESTMENT OPTIONS: Birla Sun Life provides you the maximum

funds for investment (Balanced fund, Defensive Managed fund, Safe Managed fund, Liquid fund & Growth fund). So Birla Sun Life provides you better portfolio to diversify your funds which reduces the risk and maximizes the return.

6.

TOP UP: In Birla Sun Life the minimum top up is of RS 5000 with no
charges levied but in others it is Rs 10000. Here we could see that people with low income can increase the premium with small amount.

7.

BONUS UNIT: Only two firms are offering bonus unit to the customer
and they are Birla Sun Life and LIC.

8.

FLEXIBLE CONTRIBUTION: This feature is available in Birla Sun Life

where a customer can increase or decrease its premium, but only Bajaj Allianz is offering an increase option only.

RECOMMENDATIONS

1. Premium allocation charge (initial charge) should be reduced to provide customer with better return.

2. Policy administration charge should be reduced to gain more advantage in the market.

3. Surrender charges should be reduced.

LIMITATION

Some limitations are as follows:

y Difficult in convincing people for investment. y Difficult to change mind of the investor according to age and profession. y Difficult to make an approach to investors. y Difficult to take an appointment with professional people. y Difficult to get the documents required for formalities from investors y Difficult to overcome an impassionate person who wants maximum return in less time.

y Difficult to follow up the people whose names are being stored in a data. y Difficult to remove the fear of risk from the minds of investors. y Lack of awareness of share market.

y Time being a major constraint.

y Customer base is decreased because of wrong phone numbers and numbers with no reply.

y Since the share market has grown to an all time high the people have second thoughts for investing in ULIP PLAN and prefer investing in other safer and fixed return deposits such as FDs and government bonds.

LEARNINGS
y Punctuality and hard work is key to success.

y Positive attitude and strong confidence needed .. y How to behave in corporate world and follow the rule and regulation formed by company is important to sustain

y How to handle the customers and their queries.

y How to convince the customers and how to generate need in them.

y Be honest and committed towards work and well disciplined is required to get success.

AWARDS
Awards, incentives and stipend are the most important to get motivated towards the work so that more and more productivity can be achieved.

As far as awards is concerned I have not been the outmost performer of the company, but whatever backup an positive motivational support I have got was not less than awards because when I took my first step into the company I was completely nervous and thought that how I will generate that much of business to the company but thanks to all the senior employ for encouragement.

I did not get any stipend except incentives, but I can say that monetary awards is not so important than positive reinforcement and learning what I got from them was more than just any monetary awards for me.

CONCLUSION
The project started with the commencement of the SIP at Birla Sunlife Insurance Ltd. Dehradun branch on 24th march 2009. The experience so far is full of learning not only in terms of the Products but also in terms of Consumer Behaviour, Consumer Response, Consumer Buying Pattern, Corporate Culture, Corporate Ethics and Corporate Working. The span of three months so far has developed and enhanced the skill of Selling and Generating Business (corporate jargon) in me. The part of our work in the company is: a. Selling Various Products of Religare

b. And to know the Effect of Recession on the Investment Planning of the Customer.

To my view, securities sector is vast and lot of opportunities and competition is there. but People are not aware of companies products as well company specially in ruler areas, I would like to say that some ad campaign should be held and some innovative policy launched according to their need and income because risk is very high. If we talk about market, it has lot of potential particularly in Dehradun but they have already invested in the month of February and march to save tax, so company need to convey the message about future security. Second thing customer does not believe easily. so company should create trust and objectivity among customer and it can be created by combining the things like prompt service, quality of advice, appropriate products that suit needs, transparency, promises delivered

and effective follow up. other hand objectivity is driven from a culture of respect, fairness, honesty and primacy of customers interest. Ultimately I would like to conclude that company ought to treat customer with respect, maintain fairness and honesty in its service putting customers interest first. Company should create value system which builds faith in the organization. From the previous discussed things as the strategy, achievements, tasks & target, I may conclude following points

y The target may be considered as a big target in the initial stages of the training period of SIP. y Unawareness of the market may be a hindrance in achieving the target. y May be that I am following a wrong strategy. y Taking references is helping me in making good clients as well as helping me in building my network. y The pipeline of prospective customers will help me in achieving my target to a large extent. y My product knowledge of my company has helped me achieving this much of my target.

y Competition is very tough in the life insurance sector. y Customers require time to invest in the market. y Most customers are concerned with the safety and security of their money

People have taken policies according to their incomeMarket is already tapped & customers are not ready to listen about ULIP plans

The cooperation from the faculty guide and the company guide has made this process of learning more interactive by providing us with various inputs like pressure to perform, how to deal with it, various ways of genearting leads for sales, understanding the wants of the customer, the ways to maintain follow ups, creating pipeline, closing the deal, etc. Mr. Deepak kala, who is my relationship manager, is very supportive and cooperative and has provided us with various small but useful inputs throughout the period of four mont

BIBLOGRAPHY
1.BOOKS AUTHORS
 Marketing Management (10th Edition) Philip Kotler  Marketing Management (3rd Edition) V.S. Ramaswamy  Research Methodology (2nd Edition) C.R.Kothary  Research Methodology S.P. Kasande

2. NEWS PAPERS
 Times of India  Financial Express

www.birlasunlife.com www.HDFCINSURANCE.com www.irda.com www.LICindia.com

www.google.com

QUESTIONNAIRE

DATE.

1, NAME

2, which age group do u belong:(a)Under-30 (b) Above-30

3, what is your profession: (tick the appropriate) (a) Doctor (c) Businessman (e) Stock Broker (b) Enginneer (d) Govt.servant (f) Other Specify

(4) what is your annual income. (a) < 1 lac (b) 1-3 lac

(c) 3-5 lac (e) 10 lac & above

(d) 5-10 lac

5, Are u aware that insurance is available to the following channels:-

(a) Corporate Agents (c) Blue chip Companies (e) All

(b) Agents (d) bank

6, How often do you invest?

(a) Monthly (c) Half- yearly

(b) Quarterly (d) Yearly

7, If you have surplus of Rs. 100000, how would you allocate your fund in insurance plan.

(a) Protection plan (c) tax saver plan

(b) Investment plan (d) Saving plan

(e) Pension plan

8, who influences you the most in your investment decision? In case of more than one then please rank them in order of importance. (a) Bank (c) Relative (b) Friend (d) Corporate agent/Broker

(e) Other. 9, Have you taken any life insurance policy. (a) Yes (b) No

(c) If yes which company

10, I am planning to invest mainly for. (a)Tax planning Education (b) Planning Home (c) Childrens

(d) Provide forregular

11, If find the service offered by BIRLA SUNLIFE INSURANCE LTD. (a) Strongly agreed (c) Neither agreed nor disagreed (b) Agreed (d) disagreed