52926073 Tata Aig Insurance Company Marketing Strategies

8/13/2019 52926073 Tata Aig Insurance Company Marketing Strategies

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A PROJECT REPORT

ON

MARKETING STRATEGY

OF

TATA AIG INSURANCECOMPANY

SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE

AWARD OF THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION

(BBA)

TO

GURU GOVIND SINGH INDRAPRASTHAUNIVERSITY(SESSION 2008-2011)

SUBMITTED TO SUBMITTED BYMiss. SAVITA IMRAN KHANDesignation: Lecturer Enro!ent No.091205170

BLS INSTITUTE OF TECHNOLOGYMANAGEMENT

D!"#$%R' R&*+ NH%10 +,#&* +B#*-./.#


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(H.)

STUDENT UNDERTAKING:

THE PROJECT IS SUBMITTED TO MISS.SAVITA STUDIES AS MAJOR

PROJECT FOR BACHELOR OF BUSINESS ADMINISTRATION (B. B. A)

2008-2011

PROJECT GUIDE

B Y


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ACKNOWLEDGEMENT

I'!.*!!*!3!

Interdependence is something, which is very essentia in today!s word "or

competition o" any tas#$ %his is aso &eing competed &y the 'oint e""ort o" so many

peope, so I wish to pay my gratitde to a those peope who have directy or

indirecty contri&ted towards the competion o" this pro'ect$ irst o" a, I owe my

gratitde to a might *O+ and my parents &ecase o" whom I am a&e to compete

this pro'ect sccess"y$ I am deepy inde&ted and grate" to iss$ Savita (siness

.ssociate) who granted the permission to do this pro'ect, this pro'ect has sccess"y

ta#en pace$


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TABLE OF CONTENTS

Sr. No. Topic

1 INTRODUCTION TO INSURANCEAND TATA AIG

2- COMPANY PROFILE AND S!OT

ANALYSIS OF THE COMPANY

" OBJECTIVE OF STUDY

# RESEARCH METHODOLOGY

$ DATA ANALYSIS ANDINTERPRETATION

% FINDING AND ANALYSIS

& RECOMMENDATIONS ANDSUGGESTION:CONCLUSION

' LIMITATION

( )UESTIONNAIRE

1* BIBLOGRAPHY


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INSURANCE

INTRODUCTION

%he &siness o" insrance is reated to the protection o" the economic vae o" assets$

Every asset has a vae$

%he asset gets ost earier, &eing destroyed or made non-"nctiona, throgh an

accident or other n"ortnate event, the owner and those deriving &ene"its there "rom

s""er$ Insrance is a mechanism the heps to redce sch adverse conse/ences$

PURPOSE 4 NEED OF INSURANCE

.ssets are insred, &ecase they are i#ey to &e destroyed or made non-

"nctiona, throgh an accidenta occrrence$ Sch possi&e occrrences are

caed peris$ ire, "oods, &rea#downs, ightning, earth/a#es, etc, are peris$

is# . possi&iity o" oss or damage$ It may or may not happen$ %here has to &e

an ncertainty a&ot the ris#$ Insrance is done against the contingency that itmay happen$

Insrance eope3.ssets mst &e e4posed to the same ris#s

Insrance is# is spread among the commnity and the i#ey &ig impact on one

is redced to smaer managea&e impacts on a$

Insrance companies coect money in advance and create a "nd "rom which the

osses are paid$

. hman i"e is aso an income generating asset$ %his asset aso can &e ost

throgh ne4pectedy eary death 5 .ccidents may or may not happen$

6iving too ong can &e as mch as pro&em as dying too yong$ %hese are ris#s

which need to &e sa"egarded against$

Insrance covers economic or "inancia oses 5 tangi&e and intangi&e assets$


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HOW INSURANCE WORKS

eope "acing common ris#s come together and ma#e their sma contri&tions to a

common "nd$ %he contri&tion to &e made &y each person is determined on the

assmption that whie it may not &e possi&e to te &e"orehand, which person wi

s""er, it is possi&e to te, on the &asis o" past e4periences, how many persons, on an

average, may s""er osses$

Insrance is a&ot

Sharing the same ris#

aying ot compensation (caims)

Insrer ensres no &ody ta#es nde advantage$

BUSINESS OF INSURANCE

%he &siness o" insrance done &y insrance companies, caed insrers, is to

&ring together persons with common insrance interests coecting the share or

contri&tion "rom a o" them and paying ot compensations to those who s""er$

%he &siness o" insrance is nothing &t one o" sharing$ It spreads osses o" an

individa over the grop o" individas who "ace common ris#$

It ensres that no&ody ta#es nde advantage o" the arrangement$

FUNDAMENTAL PRICIPLES

L$! I6-.3! C&'.3'6

. contract may &e de"ined as an agreement &etween two or more parties to do or

to a&stain "rom doing an act, with an intention to create a egay &inding

reationship$ . simpe contract to &e en"orcea&e mst have "oowing

essentias -

- O""er and acceptance

- 7onsideration

- 7apacity to contract

- 7onsenss ad idem!


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- egaity o" o&'ect

C&!.3$" 3&'.3'6

7ommercia contracts are normay s&'ect to the principe o" caveat emptor i$e$

et the &yer &eware$ In most o" these contracts each party to the contract can

e4amine the item or service$ 9hich is the s&'ect matter o" contract$

I6-.3! 3&'.3'6

.s "or insrance contracts, the prodct sod is intangi&e$ It cannot &e seen or

"et$ oreover, most o" the "acts reating to heath, ha&its, persona history,

"amiy history are #nown to one party ony, the proposer$


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PRINCIPLE OF UTMOST GOOD FAITH (U8!..$! F$*!6)

roposer mst discose every materia #nown to him$ %his type o" contract is

caed :&errimae ides i$e$ contract o" tmost good "aith$

acts that wod in"ence the 'dgement o" a prdent insrer in "i4ing the

premim or determining whether he wi ta#e the ris#$ %here"ore, "acts regarding

age, height, weight, &id, previos medica history, smo#ing 3 drin#ing ha&its,

operations, non-discosre o" earier insrances, ha;ardos! occpation mst &e

discosed$

%here are certain circmstances, a "acts which need not &e discosed$ or e4ampe

(1) acts which every one is spposed to #now$

(2) acts o" common #nowedge$

(


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INSURABLE INTEREST

. ris#s are not insra&e$ In order to &e insra&e, the ris# mst &e capa&e to

"inancia measrement, there mst &e s""icient nm&er o" simiar ris#s, the ris# mst

&e capa&e o" statistica (actaria) estimation$ It mst not &e against p&ic poicy,

and there mst &e insra&e interest in the property to &e insred3ris# to &e covered$

%he Insrance .ct, 1>


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I6'3!6 & I6-.8"! I'!.!6'

7ommon peope having insra&e interest

- Sposes have insra&e interest in each other$

- artners can insre each other!s ives$

- 7reditors have insra&e interest in de&tors

- Empoyers have insra&e interest in the i"e o" empoyees$

%he ega position a&ot chidren!s assrances is not /ite cear$ It is presmed

that parents have insra&e interest in the i"e o" a chid as a chid i$e$ so ong as he

is a chid$ %here"ore most o" the 6I7!s chidren!s poicies incorporate a vesting

case, where&y the poicy vests in the chid on attainment o" ma'ority$


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CAREER OPPORTUNITY

DISCOER A WORLD OF GREAT OPPORTUNITY WITH THE LEADING

SERICE INDUSTRY

THE INSURANCE SECTOR

N.%ION.6ISE+ IN 1>?@

6I7 9.S %AE ON6B 6.BE %I66 2000

*OCENEN% A.S +E-E*:6.%E+ %AE IN+:S%B

%AE .S%ES% *O9IN* :SINESS IN India %O+.B

6IE INS:.NE ENE%.%ION IN India IS 1$=D

E 7.I%. SEN+ IN India 5 s$ 2


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LIFE INSURANCE : THE

FASTEST GROWING INDUSTRY

. s$


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OB,ECTIES

THE MAIN OB,ECTIES OF THE STUDY ARE AS FOLLOWS :

%o present an overview o" %ata .I* Insrance company with its mar#eting

strategies$

%o stdy the history o" %ata .I*$

%o assess the natre o" oint Centre, Investment attern, Entry Strategies and

prodct o" rdentia %ata .I* Insrance 7ompany$

%o coect +ata throgh mar#et srvey$

%o anay;e the comparative mar#eting strategies o" %ata .I* with other

7ompanies$

%o change the pro"ie o" Insrance .gents$

%o anay;e a data coected sing "actor anaysis$


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COMPANY PROFILE

SER% A PROFILE

.s the name sggests CSEC is here to serve its peope, promote ease to its cient F

insre the &est o" its service to a$

Esta&ished in arch >> &y r$ Aerpreet Singh$ CSEC was initiay "ormed

distri&ting mta "nds F &onds$ %he company sowy &roadened its hori;on F in

the year 2001 when insrance "e into the hands o" vt$ sector CSEC entered into

i"e F genera Insrance with %.%. .I*$ y .pri 2001 there were two companies

"onded nder the &anner o" CSEC namey, CSEC 7.I%.6 SECI7ES C%

6%+$F CSEC INS:.N7E SECI7E C% 6%+, &oth catering to the insrance

needs o" its cstomers$


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SER CAPITAL SERICES PT LTD;

Incorporated nder companies act 1>?@, SER CAPITAL SERICES PT LTDis the sister concern o" CSEC that deas in investment , stoc# &roo#ing ,

management consting F recriting F training activities as &siness associates "or

%.%. .I*$

%he company nder the administration o" its &oard o" directors comprising o" M.;

H..!!' S$/# + H..!!' K-. 4 $. S$/# !!. operate throgh a team o"

peope o" which


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T'%AIG L$! I6-.3!

PROFILE

T'%AIG L$! I6-.3! 3& is a 'oint ventre &etween the T' G.&- *

A!.$3 I'!.'$&" G.&- Inc (.I*), the eading :S-&ased internationa

insrance and "inancia services organisation and the argest nderwriter o"

commercia and indstria insrance in .merica$

Its mem&er companies write a wide range o" commercia, persona and i"e insrance

prodcts throgh a variety o" distri&tion channes in appro4imatey 1


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INTRODUCTION

TATA GROUP

%he %ata *rop is the most respected indstria &siness hose serving India "or 121> and it has sccess" 8= years o"

history$

.I* go&a &siness aso incdes "inancia services and asset management,

"inancia prodcts, consmer "inance etc$

AIG IS AMONGST THE FEW =AAA> RATED COMPANIES IN THE

WORLD

Saes orce o" 11?,000 9ord 9ide$

evene H @2$= &iion (s$ 00 crores)

7tting Edge %raining

Otstanding ating

= in or&es ?00

12 in "ortnes ?00

?E@!. 3!' & P.!$-

- C;; S'..+ &-*!. & AIG;


20/70

TATA AIG

INTRODUCTION

%ata .I* is a 'oint ventre that is &ac#ed &y the %ata *rop, one o" the India!s most

respected Indstria 7ongomerates, with revene o" over s$ =0,000 crores, and

.merican Internationa *rop, Inc$ (.I*), the eading :S &ased internationa

insrance F inancia Services Organi;ation$

%AE %.%. *O: =D

.I* 2@D

%ata .I* o""ers a gamt o" innovative prodcts in the 6i"e Insrance Sector$ %ata

.I* is one o" the "ew partnership in the Indian Insrance Indstry that &rings yo

arrange o" Insrance rodcts "rom atomo&ie to i"e Insrance, "rom trave to

persona accident coverage, and more$


21/70

TATA AIG LIFE

. 'oint ventre &ringing to hosehod names together, anched in .pri 2001 in

m&ai, +ehi, Jo#ata, 7hennai, angore, Aydera&ad and e4pending rapidy$

I '#! P.$@'! I6-.3! M.!' T' AIG "$! $6 :

astest growing new i"e insrance co$ in India$

resence in 1= cities and e4panding constanty$

%he eading 9hoe o" 6i"e provider with ?0D o" a poicyhoders choosing

ahai"e

Nm&er One in roviding %erm assrance

Or &iggest seer is the oney ac# an with 2>D mar#et share

6ast year or anna &ons was amongst the argest paid in the indstry K ?D

componded$


22/70

AREA OF BUSINESS

%ata .I* i#e Insrance prodcts incde a &road array o" 6i"e Insrance coverage to

&oth individa and grops$

or grops, the company has i"e prodcts whereas "or individa, it has term

prodcts, endowment prodcts as we as money &ac# prodcts$ or grops and

individas, varios types o" options are avaia&e to give consmers "e4i&iity and

choices$


23/70

TATA AIG ISION

P.&$'8"

D!"$@!. 3&6$6'!'" !3!""!'

S!.@$3! * *!@!"& &-.

P!&"! $ 3&6''"

C#/$/ !@$.&!';

idest range o" prodcts to cater to needs o" a segments

. ni/e career progression strctre "or advisors$

N&' &!. 8 "" &'#!. 3&$!6 $ I*$;


24/70

HISTORY

TATA HISTORY % FAMILY TREE

,AMSET,I TATA

onder o" India!s argest and

internationay &est non grop o" companies$

egan with a te4tie mi in centra

India in the 180s$

SIR DORAB,I TATA SIR RATAN TATA

Sir +ora&'i %ata

%rst (1>0= 5 1>>


25/70

TATA HISTORY : 1 190

Operations e4pand to incde E4pansion into 7ommercia

Aotes, etas and the "irst o" rinting$ .irines, 7ommercia

< eectric companies$ In 1>0, vehices as we as %ata Indstries

%ata e4pands go&ay with the which was created "or the

ormation to %ata 6imited, promotion and deveopment o"

6ondon$ Ai-tech indstries$

1>00 5 1>10 1>?0

1>@8 5 1>00 1>10 5 1>20 1>?0 - 1>@0

N %ata starts a %he %atas enter the %ata is as#ed to

private trading "irm consmer goods with the man"actres

aying the %ata oi mis 7ompanies in

"ondation "or the 7ompany ma#ing soaps, India$ India!s

%ata empire$ irst detergents and coo#ing a'or

operation incde ois$ an"actring

te4ties, spinning and engineering

and weaving organi;ation,

companies Cotas, is

in 188, %ata and Sons esta&ished$

is esta&ished


26/70


27/70

TATA HISTORY : 1990 199

Seven ma'or %ata New %ata *rop

*rop companies corporate ogo and

"ormaity adopt the mar# are anched$

%ata *rop code o"

condct$

1>>8 1>>8

1>>1 1>>8 1>>8

."ter ?0 years at %he "irst %ata eectric

%he hem, + %ata indigenosy companies

steps +own as designed, ac/ire power

7hairman o" deveoped and "aciities "rom

%ata sons$ Ae is man"actre .77$

repaced &y the car is introdced

present chairman, &y %ata Indica$

atan N$ %ata$


28/70

TATA HISTORY : 199 PRESENT

%ata %ea ac/ires %ata Stee &ecomes

the %etey grop, :J$ %he "irst %ata *rop 7o$

this is the "irst ma'or to win the + LC award

ac/isition o" an %ata$

internationa &rand &y

an Indian *rop$

2000 2000

2000 2000 2001

%he .ditya ira Signi"icant changes %ata annonces

*rop, .%F% annonced in the a partnership

and %ata %ata Sons &oard with .I* to o""er

indstries to improve corporate insrance and

sign an O: governance$ "inancia

to merge their services prodcts

cear properties in India

into a 'oint ventre


29/70


30/70

199 :.I* enters the ntapped mar#ets o" ssia and :;&e#istan$

1((% : %he .sian In"rastrctre nd raises H 1$1 &iion$

199 :eopening o" the nd iding$

1((( : .c/isition o" Sn .merica Inc$

2001 :.I* .c/ires .merican *enera .I*!s net income rises to a record high o"

H $@@ n$ 7onsoidated assets appro4imate H =>2$


31/70

SWOT ANALYSIS

STRENGTHS:

1$ No$ 1 rivate ayer in the insrance indstry in India$

2$ 6i"e Insrance in#ed with Investments


32/70

THREATS:

1$ +ynamic environment

2$ Increasing 7ompetition


33/70

METHODOLOGY

+ata can &e cassi"ied nder the two main categories, depending pon the sorces

sed "or the coection prposes, i$e$, rimary data! and Secondary data!$ %he

vaidity and accracy o" "ina 'dgement is most crcia and depends heaviy pon

how we the data is gathered in the "irst pace$ %he methodoogy adopted "or data

gathering aso a""ects the concsions drawn there "rom$

Primary data:rimary data are those data, which are coected &y the investigator

himse" "or the prpose o" a speci"ic en/iry or stdy$ Sch data are origina in

character and are generated &y srveys condcted &y individas or research

instittions$ %hs we can say that the data that is &eing coected "or the "irst time is

caed primary data$ethods that can &e sed "or coection o" primary data are as "oows

D$.!3' !.6&" &86!.@'$&: :nder this method, the

investigator presents himse" personay &e"ore the in"ormant

and o&tains "irst hand in"ormation$ %his method provides

greater degree o" accracy$

T!"!#&! 6-.@!: :nder this method the investigator,

instead o" presenting himse" &e"ore the in"ormants, contactsthem on teephone and coects in"ormation "rom them$

I*$.!3' !.6&" $'!.@$!


34/70


35/70

INSURANCE ADISOR

IRDA TRAINING

%he Insrance .ct, 1>


36/70

COMPETITION DISTRIBUTION STRATEGIES

TATA AIG AGENCY

M!"!#$"# D$%&'%

D$%&'% - A#&"'* D$%&'% +!,&%"!& '!""&,

A. D$%&'% + A#&"'*(T%&& /"&)

/"& H&!

A#&"'*M!"!#&%

M!"!#&&"B$"& A'$!&

S&"$% B$"&A'$!&

B$"& A'$!&

I"%!"'& A3$%

R,cr-i /0 2/0/3, 4/5,4 ,/24

F--r, o 3ro6 E/r0 7 BIG 88888


37/70

CAREER GROWTH CHART

MANAGEMENT BUSINESS (=D o" S.)

ASSOCIATES

SENIOR BUSINESS (8D o" .)

ASSOCIATES

(7.N!% *O BUSINESS ASSOCIATES (2?D o" %ota .dvisors

EBON+ %AIS)

AGENTS (:pto


38/70

7omparison &etween %ata .I* and other Insrance 7ompany

"OM#ARISION O$ %RO&TH O$A%ENTS O$ DI$$ERENT INSURAN"E

"OM#ANIES

'

('

)'*'

+'

,''

' (' )' *'

Tata AI%

Insurance "o.Ot-ers

Insurance "o.


39/70

MARKETING STRATEGIES OF

TATA AIG INSURANCE

TATA AIG HEALTH FIRST

4!,$* &!,'!%& $ &56&"$3&7 * "&& ! 6,$'* ! '3&% !,,

'"$"#&"'$&. H&!,F$% 6%3$& * $ &'%$* 9*

#!%!"&&$"# ! ,6 $%%&6&'$3& : *% &$'!, 9$,,. Y '!"

6%'!& $ 6,$'* $,& *% &5$$"# &$'!, $"%!"'& 6,$'* $

$,, $" :%'& !" %&"& $ "$, !#& ;< $ !$$"!, &$'!,

&5!$"!$".

K,9 ,/-r,4 i0c5-,:

THE BENEFITS SHO!N BELO! ARE FOR A POLICY

PURCHASED FOR 1* UNITS

D!$,* H6$!,$=!$" B&"&:$ (DHB) D%$"# 6$!,$=!$"> &

$,, 6!* !" !,,!"'& : R. 2>?00 6&% !*.

S%#$'!, B&"&:$ A ,6 : R. 1>2?>000 $ 6!$ :%

6&'$:$& %#$'!, 6%'&%&. @& 6!* & '6,&& !">

&3&" $: & 6%'&%& ' ,&. T$ 9&"&:$ $ 6!*!9,& ",*

$: DHB $ 6!*!9,&.

P-6$!,$=!$" B&"&:$ A:&% 6$!,$=!$"> & $,, 6!*

R. 1>2?0 ! !* :% :,,-6 %&!&" (6 ! !5$ :

!*). T$ 9&"&:$ $ 6!*!9,& ",* $: DHB $ 6!*!9,&.

C%$$'!, I,,"& C3&% Y #& R. 12.?0 ,! $" & '!& :

:$% $!#"& : 6&'$:$& : & 12 '%$$'!, $,,"&&.

D&! B&"&:$ I" & ":%"!& &3&" : *% &!>

'3&%!#& : R. 10>000 $ 6%3$& 6%&' *% :!$,*.T$

9&"&:$ $ 6!*!9,& $: " &% 9&"&:$ ! 9&&" ',!$& :%.


40/70

P,$'* '!" 9& 6%'!& :% 1 10 "$.

TA; BENEFITS AND AGE ELIGIBILITY

P%&$ 6!$ :% H&!, I"%!"'& B&"&:$ !%& &,$#$9,& :%

!5 9&"&:$ "&% &'$" 80D> $,& 6%&$ :% L$:&

I"%!"'& B&"&:$ !%& &,$#$9,& :% !5 9&"&:$ "&% &'$"

80C : & I"'& T!5 A'> 1;1.

P,$'* !3!$,!9,& :% 6&%" 9&&&" 18 !" ;0 *&!% : !#&.

T%&!&" ''% ! ! 6%&-!66%3& 6$!,.


41/70

MAHALIFE GOLD

T$ "$& 6,$'* $ !" $&!, 6,!""$"# 3&$',& :" *%

%&$%&&". I 6%3$& ! &!* $"'& !" $"%!"'& '3&%!#&

:% ,$:&. P%&$ !%& 6!*!9,& ",* :% & :$% 1? *&!%> !" '!"

9& & '3&% & :%& &56&"& : *% '$,%&".

K,9 ,/-r,4 i0c5-,:

A #!%!"&& !""!, '6" : ? : & !%&

&3&%* *&!% :% & %& : & $"%&G &% :% & 10

6,$'* !""$3&%!%*.

Y&!%,* '! $3$&" !%& !3!$,!9,& :% & ; 6,$'*

!""$3&%!%* "!% (&6&"$"# " C6!"*

6&%:%!"'&).

T& &"$%& !%& $ 6!$ !5-:%&& ! 6&% '%%&"

I"'& T!5 L!.


42/70

INVESTASSURE GOLD

I"3&A%& , $ ! ""-6!%$'$6!$"# @,& L$:& U"$ L$"&

$"%!"'& 6,!"> $' ::&% * & "$& !3!"!#& :

'9$"$"# & 6%&'$" !" !5 !3!"!#& : ,$:& $"%!"'&

$ & !%!'$3& 6%6&' : $"3&$"# $" $::&%&" $" :

&'%$$& %# ,$6,& :" 6$". @$ $ 6,!"> *

'!" $%&' & $"3&&" 9* '%&!$"# *% " $"3&&"

:" 6%:,$ :% ! %!"#& : 6$" $ *% "&& !"

6%&:&%&"'&.

K,9 ,/-r,4 i0c5-,:

F,&5$9$,$* '& *% 6%&$ 6!*&" &% ?

*&!% % :% & &"$%& %!$" : & 6,$'*.

B&"&:$ 6&%$ F% & &"$%& ,$:& $,, 100 *&!% : !#&.

F!'$,$* $"'%&!& & 6%&$ %# T6 6

P%&$.

P%3$& &'%$* *% :!$,* $" '!& : *%

":%"!& &!.

F!'$,$* $"'%&!& & S A%& %# T6 6

P%&$.

$3& * & :,&5$9$,$* '& *% :" 9!& "

*% %$ 6%:$,& - @,& L$:& M$ C!6 E$*> @,& L$:&


43/70

A##%&$3& %> @,& L$:& S!9,& %> @,&

L$:& I"'&> !" @,& L$:& S% T&% F$5& I"'&.

Y !* '& $' 9&&&" & :"> !"*$&

9&' '&%!$" '"$$".

E"!9,& * &"* !%&-,$"& %&%" $ !

6&"$!, :% $#&% #%.

O66%"$* 9%$"# * !$$"!, $"'& " :"

! $# !3& &%$& #$3&" * $"$ %&%"

$" *% !3$"# !''"> 9&' !%& 6&%:%!"'&.

L*!,* B&"&:$ A$$"!, 0.2? : "$ "&% &

R,!% P%&$ A''" &3&%* ? *&!% 6%3$& &

6,$'* $ $" :%'&.


44/70

INVESTASSURE PLUS

I"3&A%& P, $ ! $"#,& 6%&$ U"$ L$"& $"%!"'& 6,!"

&6&'$!,,* &$#"& :% & $"3&&"-!33*. I #$3& * &

:,&5$9$,$* : '$"# *% " $"3&&" %!*> 9&$&

6%3$$"# 6%&'$" *% ,3& "& $" '!& : ! $:%"&.

T$ 6,!" #$3& * !" 66%"$* !& & : #

!%& %&%"> !,9&$ $ !" $"'%&!& $"3&&" 3,!$,$*. A

& !& $&> $ & " '6%$& & &'%$* ! *

!" 6%3$& *% ,3& "&.

M-5ip5,

P%3$& &'%$* *% :!$,* $" '!& : *% ":%"!&

&!.

$3& * & :,&5$9$,$* '& *% :" 9!& " *%

%$ 6%:$,&.

E"!9,& * &"* !%&-,$"& %&%" $ ! 6&"$!,

:% $#&% #%.

&* :&!%& $"',&

P,$'* &% : 1?> 20> 2? % 0 *&!%.


45/70

N 6&"!,* '!%#& :% %%&"&%$"# & 6,$'* !"* $&

!:&% & % *&!%.

F,&5$9$,$* '& *% S A%&> &6&"$"# " *%

!#& 6%:$,& !" *% "&&.

Y !3& ! '$'& : 6%&$ ,$6,& '& :%.

A"* 6%&$ " &'& :% '3&%!#& !" '!%#& $,,

9& $"3&& $" & :" '&" 9* * 3$=. E$* F">

I"'& F"> A##%&$3& % F"> S!9,& % F"

!" ! S% T&% F$5& I"'& F".

F,&5$9$,$* $' 9&&&" :" !" 6!%$!, $%!!,.

I"3&A%& P, !, ::&% T6-6 6%&$ !" &

:!'$,$* !3& ! S !%& " & T6-6 6%&$ !

&,,.

T/? B,0,i4

P%&$ 6!$ "&% $ 6,!" !%& &,$#$9,& :% !5 9&"&:$

"&% S&'$" 80C : & I"'& T!5 A'> 1;1. A"*

%&'&$3& "&% $ 6,!" $ &5&6 :% !5 "&% &'$"

10(10D) : & I"'& T!5 A'> 1;1.

A#& E,$#$9$,$*


46/70

T,r2 o Po5ic9 Mi0i2-2 A3,

M/?i2-2 A3,

1$ 9,/r4 "* /94 %*

9,/r4

+* 9,/r4 "* /94 $$

9,/r4

+$ 9,/r4 "* /94 $*

9,/r4

"* 9,/r4 "* /94 #$

9,/r4 M/-ri9 /0 D,/@

B,0,i4


47/70

LIFE PLUS

I: * ,$3& & 20-*&!% &% : ! L$:&P, 6,$'*> !,, : *%

6%&$ 6!*&" $,, 9& %&:"&7 $: * $& 9* "!%!, '!&

$,& & 6,$'* $ $" :%'&> *% 9&"&:$'$!%$& $,, %&'&$3& &

!%&7 , * $& & !''$&"!, '!&> *%

9&"&:$'$!%$& $,, %&'&$3& 9,& & !%&.

K,9 ,/-r,4 i0c5-,:

A,, 6%&$ 6!$ !%& %&%"& ($ $"&%&) $" &

&3&" * ,$3& & 6,$'*G 20-*&!% &%.

P%&$ !%& 6!*!9,& ",* :% & :$% 1? *&!% : & 20-

*&!% &%.


48/70

ASSURE +1 YEARS MONEY SAVER

T$ !3$"# 6,!" #$3& * & '! 6!*&" ! 6&'$:$&

$"&%3!, :" *% :!$,*G "&& ! '%$$'!, $,&"& %

66% *% :$"!"'$!, 9,$#!$". Y #& & !, 9&"&:$ :

,$:& $"%!"'& '3&%!#& 6, & :,&5$9$,$* : 6&%$$' 6!*&".

K,9 ,/-r,4 i0c5-,:

10 : & !%& $ 6!$ " %3$3!, " & % K; K

K12 K1? !" 18 6,$'* !""$3&%!%$&.

$%%&6&'$3& : '! 6!*&" !,%&!* !&> $" &

":%"!& &3&" : *% &! 9&:%& & &" : &

6,$'*G &%.

A 10 !%!"&& A$$" $ 6!*!9,& " &! %

!%$*> $: & 6,$'* ! 9&&" $":%'& :% 10 *&!%.

A %&3&%$"!%* !" &%$"!, 9" 6!*!9,& " &! %

!%$*. T&%$"!, 9" $ !3!$,!9,& ",* $: 6,$'* $ $"

:%'& :% %& !" 10 *&!%.


49/70

B"& !%& 6!$ &6&"$"# " 6&%:%!"'& : &

'6!"*.


50/70

MAHALIFE

T$ $$"'$3& 6,$'* 6%3$& ! &!* $"'& !" $"%!"'&

'3&%!#& :% ,$:&. P%&$ !%& 6!*!9,& ",* :% & :$% 12

*&!%. Y '!" &3&" & $ '3&% :%& &56&"& : *%

'$,%&".

K,9 ,/-r,4 i0c5-,:

A #!%!"&& !""!, '6" : ? : !%&>

&3&%* *&!% :% & %& : & $"%&G ,$:& :% & 12

6,$'* !""$3&%!%* "!%.

I: T!! AI L$:& 6&%:% &,,> * #& *&!%,* '!

$3$&" :% & ; 6,$'* !""$3&%!%* "!%.

O" &! % ! !%$* ! !#& 100> & &"$%&

!%& $,, 9& 6!$ !5-:%&& !''%$"# '%%&"

I"'& T!5 L!.


51/70

SHUBHLIFE

H!3& * 9&&" &,!*$"# #&$"# ,$:& $"%!"'& 9&'!& *

'!"" !::% 6!* $# ",* 6%&$ T&" & !3&

& $&!, 6%' :% *.

S9L$:& 6%3$& * 100 ,$:& $"%!"'& 6%&'$" !" !

%!"#& : 9"& 9 & 6%&$ * 6!* !%& !"# &

,& : !"* $$,!% &"&" 6,$'*.

K,9 ,/-r,4 i0c5-,:

T&% 6,$'$& #$3& * &! '3&%. T$ 6,$'*

#$3& * 9"& !,"# $ &! '3&%.

Y '!" '& ! &% : 10> 1?> 20> 2? % 0 *&!%.

A6!% :% :,, 6%&$ 6!*$"# &%> * '!" 6!* *%

6%&$ 3&% > ?> % 10 *&!%.

!%!"&& !$$" : : !%& : & B!$'

P,$'* $ !& " & :$% (1) 6,$'* !""$3&%!%* !"

" &3&%* !,&%"!& 6,$'* !""$3&%!%* &%&!:&% 6 $,, !

!5$ : !,: & 6,$'* &%. T& A $,, 9& 6!*!9,&

$: & $"%& $& $,& & 6,$'* ! 9&&" $" :%'& % $:

& 6,$'* !%&.


52/70


53/70

ASSURE GOLDEN YEARS PLAN

A%& ,&" Y&!% $ !" &"&" 6,$'* ! 6%3$&

9 !:&* !" &!* %&%". I" & ":%"!& &3&" :

*% &!> *% &6&"!" $,, %&'&$3& & !%&7

&%$& *% !3$"# $,, '"$"& #%. S, * ,$3&

6! & &% : & 6,$'*> * $,, %&'&$3& 9 &

!%& ! &,, ! ! : 9"&.

K,9 ,/-r,4 i0c5-,:

A #!%!"&& !$$" : 10 : & !%& $: &

6,$'* ! 9&&" $" :%'& :% 10 *&!% % %&> $ 6!*!9,&

" &! % !%$*.

A %&3&%$"!%* 9" $ 6!*!9,& " &! % !%$*.

A T&%$"!, 9" 6!$ " !%$* % &! $: & 6,$'*

! 9&&" $" :%'& :% ! $"$ 10 *&!%.

R&3&%$"!%* !" T&%$"!, 9"& !%& ""-#!%!"&&

!" !%& &6&"&" " C6!"* 6&%:%!"'&.


54/70

TATA AIG LIFE NIRBHAY LIFE

T!! AI L$:& ! ! ,& "& 6!%$'$6!$"# 6,!" $' $,,

%6%$& * '"$"!,,* $ $ %&!%!9,& 9&"&:$.

P%&$ !%& 6!*!9,& ",* :% & :$% *&!%> !:&% $'

* $,, %&'&$3& !,, *% "&* !" ' %&

Y '!" 6 :% ! 6,$'* ! ,! 12> 1? % 20 *&!%.

D%$"# & &% : & 6,$'*> * $,, %&'&$3& 10 : &

!%&.

T/? B,0,i4 Aiio0/5 B,0,i4 /0 A3, E5i3i


55/70

FINDINGS

QUESTIONNAIRE ANALYSIS

L$1$ Aave yo ta#en i"e Insrance "or yo

Bes No

?D =


56/70

Q;2; W#& $6 &-. I6-.!.

6I7 rivate Sector Insrer oth

?D 1>D @D

INFERENCE:? : & %&6"&" :&, ! & ,$' 9& 6,$'*@$,& 1 : %&6"&" # $ ! " #> ;# ! 9 6,$'* !%& #

LI"

#ri.ate SectorInsurer

Bot-


57/70


58/70

L$=$ 9ho is yor .gent

Od "amiy agent

"or years

ro"essiona .c/aintance3So

meone re"erred

riend3amiy

mem&er3reative

Other

1D 2D 12D =2D 2D

INEEN7E

1D agent are od "amiy agent, 2D are pro"essiona,12D are ac/aintance, =2D are "amiy

and "riends whie 2D are others

O1 2a!i3 agent 2or

3ears

#ro2essiona

Ac4uaintance5So!eone

reerre1

$rien15$a!i3

!e!6er5reati.e

Ot-er


59/70

L$?$ Aow mch is the ma4imm anna income a ayman can thin# o" "or an

Insrance .gent

:pto s$ ? acs s$ ? to s$ 10

acs

s$ 10 to s$ ?0

acs

s$ ?0 acs P

D 1@D @D 1D

INEEN7E

D eope thin# that an insrance agent has ?acs saary annay, 1@D thin#s that it

is pto 10 acs, @D thin#s that it is pto ?0 acs and 1 D thin#s that it is a&ove ?o acs

U7to Rs. 8 acs

Rs. 8 to Rs. ,' acs

Rs. ,' to Rs. 8' acs

Rs. 8' acs 9


60/70

L$@$ *iven an opportnity, wod yo i#e to earn a &ig and sta&e income &y &eing

a part o" %ata .I*

Bes No

8D 1


61/70

RECOMMENDATIONS

RECOMMENDATIONS

M%& &6!$ , 9& " 6%$"!, !'$3$$&.

P,&"* : !3&%$&&" , 9& "& %# T.V>

N&6!6&% !" R!$ ! && &$!G !%& !3$"# !5$

%&'!,, 3!,&.

T!, :$"!"'$!, 6,!""$"# !" !3$'& , 9& #$3&" &3&%*

'&%.

M%& 9$"& 66%"$* &$"!% , 9& '"'&

!& 6&6,& !!%& : & ::&% #$3&".

T& '6!"* , $& :%&&",* &" &$% !#&" &

'&% ! &* , 9& !!%& : & ,!& ::&%.

T& '6!"* , !&6 6&" %& !" %& : $

9%!"'& $" & '"%* ! 6%& &$% 6%'

69,$'$*.


62/70


63/70

LIMITATIONS

Every stdy has to have imitations in terms o" time cost, hman error F so on the

&est e""orts were pt in to get in"ormation "rom the company$ +ring the entire

research period witch spanned "or 2 months there were certain constraints "aced

&ecase o" circmstances and capa&iities$ %he research condcted was nder the

"oowing constraints

%here are - nec# to nec# competition &etween Insrance 7ompanies$

.s the pro'ect had a time imit o" 8 wee#s$ *etting appointments "rom the

respondents ta#es time$

Non participation o" the respondents in the research process de to "ear o"

discosing the detais a&ot the in"encers$

%ime and distance were another "actor that sewed as the imitation since ocated in

ots#irts o" +ehi$

%he company did not gave any in"ormation regarding the "inance$


64/70

QUESTIONNAIRE

CHANGING PROFILE OF INSURANCE AGENT

A PRACTICAL CASE STUDY

R!6&*!' D!'$"6

N!: D'! & B$.'#:

A/!:

A**.!66:

T!"!#&!: (M&8$"!) (&) (R!6$)

M.$'" 6''-6: S$/"! M..$!* S!: M F

E*-3'$&: U*!./.*-'! G.*-'! P&6' G.*-'! O33-'$&:

A-" I3&! (R6;): U '& 1 "#1 % 2 "#2 % "# % 5 "#5 % 10 "#10

"#


65/70

TICK IN THE APPROPRIATE ANSWERS GIEN BELOW;

(1) Aave yo ta#en 6i"e Insrance "or yo Y!6 N&

(IF YES MOVE TO SET 1 ; IF NO MOVE TO SET 2)

SET 1

(2) 9ho is yor Insrer

a (a) 6I7

& (&) rivate Sector Insrer

c (7) oth

($ '#! 3#&$3! $6 (8) &. (3) &. J-!6'$& -8!. 2 '#! 6

)

(


66/70


67/70

there are advisor who have started toching the ?0 a#hs "igre and are sated to

achieve mch more than that within this year$

(8) .re yo aware o" a arge nm&er o" sccess" insrance advisor o" a company

growing p the vae change and &ecoming eaders with sta&e earning o" mch

more than s$ ?0 a#hs per annm

Bes 3 No

P.&': .I* o""ers a growth pan to its advisor wordwide and a arge nm&er o"

sch &siness partner earn more than one miion doars per annm$ Simiar pan in

India ma#es the advisor grow into siness .ssociate, who recrit, deveop and

manage arge saes team$ Sccess" siness .ssociate are earning p to more than

s$ 2? a#hs per annm, with the income growing rapidy every year$ %he day o"

Indian iionaires (In :S doar terms) is not "ar$

(>) +o yo thin# that "tre ives in service F #nowedge sectors

Bes 3 No


68/70

(10) +o yo &eieve yo have the capa&iity to get "resh #nowedge and se it in

&etterment o" the society &y ana;ing their needs F providing right sotions

Bes 3 No

(11) +o yo &eieve yo have the capa&iity o" sccess"y eading a team

Bes 3 No

(1

6#!!')

T.$!! N!C$'I6'$'-'!;;


69/70

R!.6!. I'!.!6'!* I'!.!6'!* N&' I'!.!6'!* F&""&

52926073 Tata Aig Insurance Company Marketing Strategies

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Transcript of 52926073 Tata Aig Insurance Company Marketing Strategies