A Study on Market Penetration in Medicliam Insurance

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A STUDY ON MARKET PENETRATION IN MEDICLIAM INSURANCE IN

RELIANCE MONEY, NUNGAMBAKKAM, CHENNAI

A PROJECT REPORT

Submitted by

S.CHENTHILKUMAR

REG. NO: 21108631021

In partial fulfillment for the award of the degree

of

MASTER OF BUSINESS ADMINISTRATION

IN

RAJALAKSHMI ENGINEERING COLLEGE

THANDALAM

Affiliated to

ANNA UNIVERSITY, Chennai

July 2009

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BONAFIDE CERTIFICATE

Certified that the project report titled A STUDY ON MARKET PENETRATION INMEDICLIAM INSURANCE IN RELIANCE MONEY is a project work done by

Mr. S.CHENTHILKUMAR, (Reg. No. 21108631021) who carried out research

under my supervision certified further, that to the best of my knowledge the work

reported herein does not form part of any other project report or dissertation on the basis

of which a degree or award was conferred on an earlier occasion on this or any other

candidate.

Dr.k.SAMPATHKUMAR Mr.T.C.THOMAS

Faculty Guide Head of the Department

DECLARATION

I S.CHENTHILKUMAR, Reg.No : 21108631021, a bonafide student of

DEPARTMENT OF MANAGEMENT STUDIES, RAJALAKSHMI

ENGINEERING COLLEGE, Thandalam would like to declare that the project titled

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report A STUDY ON MARKET PENETRATION IN MEDICLIAM

INSURANCE,IN RELIANCE MONEY, partial fulfillment for the award of the

degree ofM.B.A course ofANNA UNIVERSITY is my original work.

Place:Chennai

Date: (S.CHENTHILKUMAR)

ACKNOWLEDGEMENT

My heart-felt gratitude to our beloved Director Mr. P. S.PANDIYAN, Dynamic Dean

Prof. S. SANKAR, and Head of the Dept. Mr.T.C.THOMAS, for giving me this

wonderful opportunity.

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I extend my thanks to Dr.K.SAMPATHKUMAR, Professor forhis precious advice

and guidelines regarding the project.

I want to thankMr.,Karthik,Company Manager, RelianceMoney, Chennai, for

giving me permission to do this project in the first instance, to do the necessary research

work and for being my Company Guide.

I convey my heartiest thanks to my beloved Parents who helped me to complete this

Herculean task assigned to us, without them this book couldnt have seen the light of the

day. The light of Spirit will always burn in us, because they nourished so mercifully.

I finally thank my Friends and others who helped me to complete this project in one-

way of the other.

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EXECUTIVE SUMMARY

RELIANCE MONEY has core competency in selling and has a very aggressive salesteam. Since it is a service oriented industry, where word of mouth is very important. A

negative word of mouth may remove 10 existing customers and on the other hand a

positive word of mouth may earn 10 customers. So service should be targeted at a level,

which not only should meet the customers expectation but also exceed it.

Marketing is an important activity in any organizations sales strategy. Marketing

helps in promoting the products in the targeted market and create a recall value and

branding of the products. Marketing department performs the initial market study for the

suitability of the product launches; study the market requirements in the existing markets

to further strengthen the market capitalization, identify the feature needed for the

longevity of the product.

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CONTENTSChapter No. Table of Contents Page

No

LIST OF TABLES

LIST OF CHARTS

Chapter 1 INTRODUCTION

1.1 General1.2 Industry Profile1.3 Company Profile1.4 Product Profile1.5 Objectives of the study1.6 Need for the Study1.7 Scope of the Study1.8 Limitations of the Study

1-4

5-10

11-13

14-22

23

24

25

26

Chapter 2 REVIEW OF LITERATURE 27-30

Chapter 3 RESEARCH METHODOLOGY

3.1 Definition3.2 Research Design3.3 Sampling Method3.4 Method of Data Collection3.5 Statistical Tools

31

32

33

34

35

Chapter 4 ANALYSIS & INTERPRETATIONS 36-44

Chapter 5 FINDINGS OF THE STUDY 45

Chapter 6 SUGGESTIONS AND RECOMMENDATIONS 46

Chapter 7 CONCLUSION 47

ANNEXURE

Questionnaire

Bibliography

LIST OF TABLES

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Serial No. Particulars Page No.

1 AGE PROFILE OF THE RESPONDENTS 33

2 ANNUAL INCOME OF THE RESPONDANS 34

3 OCCUPATION OF THE RESPONDENTS 35

4 RESULT OF PERCENTAGE OF SAVING SPEND

FOR MEDICAL EXPENSES

36

5 PEOPLE WITH ENOUGH ASSET STILL NEED A

MEDICLAIM POLICY

37

6 PEOPLE HAVE A MEDICAL COVER UNDER

EMPLOYEE SCHEME STILL NEED A

MEDICLAIM POLICY

38

7 PURPOSE OF AVAILING MEDICLIAM

INSURANCE

39

8 RESULT OF AWARENESS OF POLICYSCHEMES

40

9 MODE OFAWARENESS 41

LIST OF CHARTSSerial No. Particulars Page No.

1 AGE PROFILE OF THE RESPONDENTS 33

2 ANNUAL INCOME OF THE RESPONDANS 34

3 OCCUPATION OF THE RESPONDENTS 35

4 RESULT OF PERCENTAGE OF SAVING SPEND

FOR MEDICAL EXPENSES

36

5 PEOPLE WITH ENOUGH ASSET STILL NEED A

MEDICLAIM POLICY

37

6 PEOPLE HAVE A MEDICAL COVER UNDER

EMPLOYEE SCHEME STILL NEED A

MEDICLAIM POLICY

38

7 PURPOSE OF AVAILING MEDICLIAM

INSURANCE

39

8 RESULT OF AWARENESS OF POLICY 40

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SCHEMES

9 MODE OFAWARENESS 41

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CHAPTER-1

INTRODUCTION

This project has been a great learning experience and, at the same time it gave me

enough scope to implement my analytical ability.

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The first part gives an insight about the General Insurance (MEDICAL

INSURANCE) and its various aspects. It is purely based on whatever I learned at

Reliance Money. One can have a brief knowledge about MEDICAL INSURANCE and

all its basics through the project. Other than that the real servings come when one moves

ahead. The language has been kept simple so that even a layman could understand.

All the quarries of the customer asked by them had been solved with the support

of the seniors in the organization. The problems of the customer were being recorded for

the purpose of the research and development

Insurance is an upcoming sector, in India the year 2000 was a landmark year for

insurance industry, in this year the insurance industry was liberalized after more than fifty

years.

Insurance sector was once a monopoly, with LIC as the only company, a public

sector enterprise. But nowadays the market opened up and there are many private players

competing in the market. There are fifteen private life insurance companies has entered

the industry

For the past five years private players have launched many innovations in the

industry in terms of products, market channels and advertisement of products, agent

training and customer services etc.

Definition

"Insurance is a contract between two parties whereby one party called insurer undertakes

in exchange for a fixed sum called premiums, to pay the other party called insured a fixed

amount of money on the happening of a certain event."

MARKET PENETRATION IN HEALTH CARE: MEDICAL INSURANCE

POLICY`S ENCOMPASSING DESCRIPTION

Customers have the power to debate about the incomprehension the concept of market

penetration in Medical insurance can produce. Most medical coverage policies vary in

cost and extent of coverage. Moreover, there isnt any one to inform potential buyers

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about the policies that are most advantageous to get and those you should avoid. The best

medical policy plan customer should get will depend on just what category of medical

cover that customer want to have, whether they need to consider others in their

immediate family , their requirements, besides other criteria. Features as well as

alternative coverages differ widely amongst sorts of medical policy programs, and more

so than the differences, will find in policies from sundry insurers providing the plans. The

most likely discrepancy to show up amongst insurance providers is usually insurance

charges -- based on customer personal state of affairs, some insurance providers` rates

Could be less then others

Still, theres no call for insurance providers to qualify as an expert, nor do you need to

waste too many hours to figure out what medical insurance package is most appropriate

for customer circumstances. Understanding what type of policy plan offers the attributes

customer need will probably guide customer to an appropriate selection without too much

hassle.

MEDICAL INSURANCE

The policy provides for Financial Assistance against Hospitalization Expenses

towards disease / illness / injury in India including domiciliary Hospitalization and day

Care treatment.

Health Shield Online is a comprehensive Health Insurance package speciallydesigned to offer complete protection to the insured and his family. You can cover your

spouse, children (above 90 days) and dependent parents (up to 50 years) from all Health

worries. However, renewal is accepted only up to 70 years.

With Health Shield, you will also have access to value added services like

cashless treatment (subject to conditions and authorizations) at a list of hospitals provided

by us, a 24 hour helpline and ambulance referral facility at no additional cost. It has been

designed to ensure that you and your family get the best medical treatment at any time

when you need it.

TYPES OF MEDICLAIM INSURANCE

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Individual Mediclaim

Group Mediclaim

BASIC FEATURES

Hospitalization Expenses

Daycare Treatment

Domiciliary Hospitalization

Pre and Post Hospitalization

Coverage of Pre-Existing Diseases

Critical Illness Cover

Donor Expenses

VALUE ADDED FEATURES

Expenses of accompanying person at the Hospital

Local Road Ambulance Services

Recovery Benefit

Cost of Health Check up

Nursing Allowance

Hospital Daily Allowance

A BUYERS GUIDE TO MEDICAL INSURANCEWith employers increasingly feeling they have to look after staff welfare, providers are

responding by redeveloping products.

Medical insurance (MI) has long been an attractive benefit among employees. On-going

negative press about the National Health Service (NHS) means that MI's popularity is

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unlikely to wane any time soon. According to Bupa's Health of the nation survey,

published last month, MI is now the second most sought-after benefit, falling only behind

pensions.

But aside from providing an attractive benefit for employees, there is an added

dimension to healthcare in that employers are increasingly feeling they have to look after

staff welfare. This is just one of a number of factors that can affect the usage and cost of

MI. Thomas van every, chief medical officer of Patient Choice, says: "Employers have to

consider the lifestyles of their employees rather than just their acute health. For example,

obesity, smoking cessation, [and] stress management are areas where employers are

starting to provide services."

DUTY OF CARE

Investing in wellbeing services to complement MI schemes can help employers to

meet duty-of-care obligations towards their workforce. Mandy Blanks, PR manager at

Standard Life Healthcare, says: "Employers should be aware of the duty of care to their

employees. Cost is very much at the heart of employers' decision to provide PMI and, in

a competitive market; insurers are clamoring for corporate business. "It is much easier to

switch plans these days. There is no need to stay with a product or provider you're not

completely satisfied with, as some companies are now offering easy switching, often on

continuous underwriting terms,".

HEALTH CARE TRUST

This move towards self insurance by employers, where they set up a corporate healthcare

trust fund to pay for medical costs, is also having an effect on the market. "It is something

employers should look at. To encourage employees to take a greater interest in their own

health, insurers are continuing to add to their product propositions

CHAPTER-1.2

RELIANCE INDUSTRIES LIMITED

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Reliance Group Holdings has grown from a small office data-processing

equipment firm in 1961 into a major insurance and financial-services group in one

generation under one chief.

Reliance's insurance operations constitute the nation's 27th-largest property

and casualty operation. The parent company also includes a development subsidiary in

commercial real estate. Reliance's international consulting group contains several

subsidiaries in energy, environment, and natural resources consulting. A financial arm

invests in other businesses, primarily television stations.

Reliance Insurance started as the Fire Association of Philadelphia in 1817,

organized by 5 hose and 11 engine fire companies. It became the nation's first association

of volunteer fire departments.

Business got a boost as a result of the Great

Chicago Fire of 1871.The association soon developed a field of agents to write policies

across the country. For the first two years, shareholders received dividends twice a year

of $5 a share, which increased gradually to $10 in 1876.

In 1972, the Reliance insurance group divided its pool so that Reliance Insurance

Company and its

Subsidiaries handled most standard lines, while United Pacific Insurance Company

handled the nonstandard and other operations.

In 1977, the company moved into real estate, forming Continental Cities

Corporation, which became Reliance Development Group, Inc. This division handled all

real estate operations of the parent company and other subsidiaries.

Reliance Capital Group, L.P. constituted the investment branch of the Reliance

conglomerate.

In December 1989, Reliance Capital sold its investment, Days Corporation, parent

company of Days Inn of America, the world's third-largest hotel chain; it had been

purchased in 1984.

Reliance Industries Limited. The Group's principal activity is to

produce and distribute plastic and intermediates, polyester filament yarn, fibred

intermediates, polymer intermediates, crackers, chemicals, textiles, oil and gas. The

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refining segment includes production and marketing operations of the Petroleum refinery.

The petrochemicals segment includes production and marketing operations of

petrochemical products namely, High and Low density Polyethylene.

"Growth has no limit at Reliance. I keep revising my vision.

Only when you can dream it, you can do it."

Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a

global leader in the materials and energy value chain businesses.

He is credited to have brought about the equity cult in India in the late seventies and is

regarded as an icon for enterprise in India. He epitomized the spirit 'dare to dream and

learn to excel'.

The Reliance Group is a living testimony to his indomitable will, single-minded

dedication and an unrelenting commitment to his goals.

RELIANCE CAPITAL

Business overview

Reliance Capital is one of Indias leading private sector financial services companies

, and ranks among the top 3 private sector financial services and banking companies, in

terms of net worth. Reliance Capital has interests in asset management and mutual

funds, stock broking , life and general insurance , proprietary investments, private

equity and other activities in financial services .

Reliance Capital sees immense potential in the rapidly growing financial

services sector in India and aims to become a dominant player in this industry and

offer fully integrated financial services .

Reliance Life Insurance is an associate company of Reliance Capital Ltd., a part of

Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of Indias leading

private sector financial services companies, and ranks among the top 3 private

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sector financial services and banking companies, in terms of net worth. Reliance Capital

has interests in asset management and mutual funds, stock broking, life and general

insurance, proprietary investments, private equity and other activities in financial

services. Reliance - Anil Dhirubhai Ambani Group also has presence in

Communications, Energy, Natural Resources, Media, Entertainment, Healthcare and

Infrastructure

India (Mutual Fund) Regulations, 1996. RCL primarily focuses on funding projects in

the infrastructure sector and supports the growth of its subsidiary companies, Reliance

Capital Asset Management Limited , Reliance Capital Trustee Co. Limited, Reliance

Limited . As of March 31, 2005, the companys investment in infrastructure projects

stood at Rs. 1071 Crores. The investment portfolio of RCL is structured in a way thatrealizes the highest post- tax return on its investments.

Reliance Capital Ltd According to newspaper

According to newspaper reports, Reliance Capital Limited has decided to convert

itself into a special purpose vehicle cum venture capital outfit. The company plans to

develop infrastructure projects and invest in InfoTech, Internet, media and biotech

startup. The company is also drawing up plans to enter the insurance sector and to expandits mutual fund business.

Reliance Capital Limited (RCL) is Indias largest private sector financial services

company. RCL has a net worth in excess of Rs. 11 bn. The Reliance group owns a 53%

stake in the company.

RCL is moving away from the traditional non-banking finance company mould by

reducing business activities pertaining to inter corporate deposits and corporate loans.

The company is setting aside Rs. 10 bn to invest in its new business focus areas.

THE RELIANCE ADA GROUP

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The Reliance Group founded by Dhirubhai H. Ambani (1932-2002) is India's largest

business house with total revenues of over Rs 99,000 crore (US$ 22.6 billion), cash profit of Rs

12,500 crore (US$ 2.8 billion), net profit of Rs 6,200 crore (US$ 1.4 billion) and exports of Rs

15,900 crore (US$ 3.6 billion).

The Group's activities span exploration and production (E&P) of oil and gas, refining and

marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and

insurance, power, telecom and Communication initiatives.

Setting global benchmarks

The largest private sector group in India accounting for 9% of the governments indirect tax

revenues, about 2.3% of countrys capital formation and 5% of countrys exports.

The company that set up the worlds largest grassroots refinery at Jamnagar in just under 36 months

at a cost 30-50% less than that of global undertakings.

The company that set up the worlds largest grassroots multi-feed cracker complex.

The worlds second largest producer of polyester staple fiber and polyester filament yarn.

The worlds largest shareholder family of 5 million.

The only Indian company in Business Week's 1994 listing of the 50 largest companies from

developing countries

Distinction of becoming Indias first private sector company to achieve a ranking in Fortune

Global.

Among the world's top 425 companies by turnover, among world's top 300 companies by net

worth, among world's top 225 companies by net profits

Reliance group's business activities encompass all major growth sectors of the

Indian economy:

Oil and gas exploration

Refining and marketing

Petrochemicals including intermediates

Textiles

Power

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Telecom

Communication

Insurance

Financial services

Assets and finance management.

Brokerage firm (Online trade services)

Reliance Money Ltd., an Anil Dhirubhai Ambani Enterprises group company, its a part of

Reliance Capital Group. Its India's one of the largest private which provides best services in share

trading and financial services.

It starts business from last 4 months. And millions of people have joined it.

The Anil Dhirubhai Ambani Enterprises group, comprising of Reliance Communication, Reliance

Energy and Reliance Capital are part of the Reliance Group, founded by Shri Dhirubhai H. Ambani

(1932-2002).

Reliance ADA Group is among the largest employers in the country, with a young, highly trained

and motivated workforce approaching 1, 00,000-strong.

Reliance have a Group market capitalization of over Rs 1, 57,000 crore, having added over Rs 1,

42,000 crore or over Rs 300 crore of shareholder wealth creation every single working day over the

past two years.

Reliance ADA group net worth is in excess of Rs 40,000 crore.

Its cash flows across the Group are approximately Rs 9,000 crore and Net profit is over Rs 5,000

crore.

PERFORMANCE REVIEW

Its accounts for the year ended 31st March, 2007, along with the Director's Report, Letter to

Shareholders and Management Discussion and Analysis, have been circulated to you.

Gross income of Rs.2, 158 crore - an increase of 128 per cent

Net profit of Rs.703 crore - an increase of 23 per cent

Earnings per share of Rs.30.73 - an increase of 16 per cent

Book value of Rs. 215.7 per share - an increase of 18 per cent

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Total Assets of Rs. 6,708 crore

STRONG FINANCIAL PLATFORM

It has created a strong financial platform that will be the bedrock for accelerated future growth.

Its net worth now stands at over Rs. 5,297 crore, as on 31st March, 2007, placing us among the

top 3 private sector Indian companies in the financial services sector, after lClCl and HDFC.

As before, Its enjoy the highest credit ratings, of A1' and F1+', awarded by ICRA and FITCH,

respectively.

CHAPTER-1.3

COMPANY PROFILE

Reliance Money is promoted by Reliance Capital; one of India's leading and

fastest growing private sector financial services companies, ranking among the top 3

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private sector financial services and banking companies, in terms of net worth. Reliance

Capital is a part of the Reliance Anil Dhirubhai Ambani Group.

Thus, Reliance Money provides a comprehensive platform, offering an investment

avenue for a wide range of asset classes. Its endeavor is to change the way India transacts

in financial market and avails financial services. Reliance Money offers a single window

facility, enabling you to access amongst others, Equities, Equity and Commodity

derivatives, Offshore Investments, IPOs, Mutual Funds, Life Insurance and General

Insurance products.

Reliance Money is a comprehensive financial solutions provider offering a complete

basket of financial services. Through Reliance Money , currently , a customer will be

able to transact amongst others, in equity and commodity , derivatives , offshore

investments, IPOs , mutual funds and insurance products.

At present the company has more than 350 employees across 75 locations with a total

number of 42 offices.

Some key steps of the company that are as..

Success is a journey, not a destination. If we look for examples to prove this quote

then we can find many but there is none like that of Reliance Money. The company

which is today known as the largest financial service provider of India.

Success sutras of Reliance Money:

The success story of the company is driven by 8 success sutras adopted by it namely

trust, integrity, dedication, commitment, enterprise, hard work and team play, learning

and innovation, empathy and humility. These are the values that bind success with

Reliance Money.

Vision of Reliance MoneyTo achieve & sustain market leadership, Reliance Money shall aim for complete

customer satisfaction, by combining its human and technological resources, to provide

world class quality services. In the process Reliance Money shall strive to meet and

exceed customer's satisfaction and set industry standards.

Mission statement:

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Our mission is to be a leading and preferred service provider to our customers, and we

aim to achieve this leadership position by building an innovative, enterprising , and

technology driven organization which will set the highest standards of service and

business ethics.

Our Goal

Reliance Insurance would strive hard to achieve the 3 goals mentioned below:

Emerge as transnational Insurer of global scale and standard

Create best value for Customers, Shareholders and all Stake holders

Achieve impeccable reputation and credentials through best business practices

Advantages offered by Reliance money over other companies:

Cost Effective

Convenience

Security

Single Window for Multiple Products

3 in 1 Integrated Access

Demat Account with Reliance Capital

Other Services like research, live news from Reuter and Dow Jones, etc.

ACHIEVEMENTS

RLIC has been one of the fast gainers in market share in new business premium

amongst the private players with an incremental market share of 4.1% in the Financial

Year 2007- 08 from 3.9% in April 07 to 8% in Feb 08. (Source: IRDA)

Also continues to be amongst the fast growing Private Life Insurance Companies with a

YOY growth of 195% in new business premium as of Mar08.

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A Company that has crossed 1.7 Million policies in just 2 years of operation, post takes

over of AMP Sanmar business.

Initiated Express Life and Unique Over the Counter sales process for Unit Linked

Insurance Policies in the Industry.

Accomplished a large distribution ramp-up in the Industry in a short span of time by

opening 600 branches in 10 months taking the overall branch network above 740.

RLIC continues to be one of the two Life Insurance companies in India to be certified

ISO 9001:2000 for all the processes.

Awarded the Jamnalal Bajaj Uchit Vyavahar Puraskar 2007-Ceritificate of Merit in the

Financial Services category by Council for Fair Business Practices (CFBP).

CHAPTER-1.4PRODUCT OFFERING

Trading Portal (with almost negligible brokerage )

Equity Broking

Commodity Broking

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Derivatives ( Futures & Options )

D-Mat Account.

Financial Products

Mutual Funds

Life Insurance

o ULIP plan

o Term Plan

o Money Back Plan

General Insurance

o Vehicle/Motor Insurance

o Health Insurance

o House insurance

IPOs

NFOs

Value-Added Services

Retirement Planning

Financial Planning

Tax Saving

Children Future Planning

Credit Cards

Gold coins retailing

TRADING PORTAL

DEMAT ACCOUNT

There are many broking houses doing business in India and they charge a brokerage on

every transaction made online or offline. (Buying and Selling are treated as separate

transaction). Reliance Moneys advantage over others is that its charging the lowest

brokerage in the market which is just 1 paisa on every executive trade irrespective of the

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volume traded. Reliance Money, the brokerage and distribution arm of Reliance ADA

Group, aims to tap investors in the smaller towns and cities through a flat fee structure.

The current leaders in the retail broking segment like ICICI Direct, India Infoline and

Indiabulls offer a pay per use model where the customer pays a percentage of the

amount transacted by him. Reliance Moneys brokerage rates are quite competitive.

The new wonder is Reliance Money's pre-paid card for stock market brokerage. Reliance

Money, the financial services division of Anil Dhirubhai Ambani Group-promoted

Reliance Capital, is bringing to the market pre-paid cards in denominations of Rs500,

Rs1,350 and Rs2,500 with validity period of two months, six months and twelve months

respectively.

Reliance Money consumers can trade in equities, commodities and offshore Investments ,

IPOs, Mutual Funds, Insurance, Money transfer and Money Changing - all through

single window, both off-line and online. Reliance Money has already tied-up with CMC

Capital Plc UK to offer offshore Investment products to Indian consumers as per

guidelines

FINANCIAL PRODUCTS

A mutual fund represents a vehicle for collective investment. When you

participate in a scheme of a mutual fund, you become a part-owner of the investments

held under that scheme. The most important characteristic of a mutual fund is that thecontributors and the beneficiaries of the fund are the same class of people, namely the

investors. The term MUTUAL means that investors contribute to the pool, and also

benefit from the pool

Investments in securities are spread across a wide cross-section of industries and sectors

and thus the risk is reduced. Diversification reduces the risk because all stocks may not

move in the same direction in the same proportion at the same time. Mutual fund issues

units to the investors in accordance with quantum of money invested by them. Investors

of mutual funds are known as unit holders.

MUTUAL FUND

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Thus a mutual fund is the most suitable investment for the common man as it offers an

opportunity to invest in a diversified, professionally managed basket of securities at a

relatively low cost

The shift in investor preference in mutual funds has been facilitated by:

Fiscal incentives

Increasing returns from debt mutual fund investments in the last few years due to the

secular decline in interest rates

The growing number of choices available to investors

The gradual change in the investors risks profile and returns.

EQUITY FUND

An EQUITY FUND invests mainly in stocks and shares of companies. EQUITY FUNDS

typically aim to generate long term growth in the unit capital. There are a variety of ways

in which an equity portfolio can be created for investors. There are thus the following

choices in equity funds:

DEBT FUND

A DEBT FUND invests mainly in debt instruments like bonds and debentures, with high

and consistent dividend payout. These funds give decent returns but the capital

appreciation is not much. There are a variety of ways in which a debt portfolio can be

created for investors. There are thus the following choices in debt funds:

Liquid and Money market funds

Gilt Funds

Monthly Income Plan

Floating rate funds

LIFE INSURANCE

"Insurance is a contract between two parties whereby one party called insurer undertakes

in exchange for a fixed sum called premiums, to pay the other party called insured a fixed

amount of money on the happening of a certain event."

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Reliance Life Insurance is an associate company of Reliance Capital Ltd., which along

with its associates has acquired 100% shares in AMP Sanmar Life Insurance Co Ltd.

Reliance Life Insurance, has a pan presence and a range of products catering to individual

as well as corporate needs. A total of 16 products covering savings, protection &

investment requirements.

Guiding Principles

Customer Care and Satisfaction

Corporate Governance

Creativity and Innovation

Competitiveness

Unit Linked Insurance Plan

UNIT LINK INVESMENT PLANS

ULIPs have been selling like proverbial hot cakes in the recent past and they are likely

to continue to outsell their plain vanilla counterparts going ahead. Earlier there were a

gamut of traditional products, for instance Endowment Plans; Money back plans etc, then

came the concept of Unit Link Insurance Plans, which today has caught the fancy of

many people.

INSURANCE PLANS

Product Name Description

Reliance A smart plan which adapts to your changing risk profile with

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Automatic

Investment Planincreasing age.

Reliance Money

Guarantee Plan

Under this plan the investment risk in the investment portfolio is borne

by the policyholder.Reliance

Endowment Plan

This plan will keep you financially prepared for all the special

occasions in your life.

Reliance Special

Endowment Plan

This insurance policy is designed for people who wish to combine

savings with extended security.

Reliance Cash

Flow Plan

This insurance policy is designed for those who have a recurring need

for reinvestment in business or look for short-term investment

channels.

Reliance Child

Plan

This insurance policy is designed for people who wish to save money

for a future time.

Reliance Term

Plan

This insurance policy is designed for those who only want life cover

for the protection of their family, and do not wish to save for

themselves.

Reliance Whole

Life Plan

This insurance policy is designed for people who do not wish to avail

of any benefits themselves but wish to create an immediate estate to

protect their family by availing of insurance cover on their life at a

very low cost.

Reliance Market

Return Plan

Reliance Market Return Fund is the unit-linked product that helps you

invest in the financial markets in a combination of investment

instruments of your choice.

GENERAL INSURANCEFundamentals of General Insurance companies are business houses. The product they sell

is financial protection. To succeed and survive, they must cover their costs, which include

payments to cover the losses of policyholders, as well as sales and administrative

expenses, taxes and dividends. Insurance companies have two sources of income for

covering these costs: premium and investment income. The premium are collected on a

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regular basis and invested in Government Bonds, Gift stocks, mutual funds, real estates

and other conservative avenues. However, investment income depends on market

conditions, interest rates, economy etc and varies from year to year. Because of the

uncertainty associated with the investment income, insurance companies must generate

enough income form premium to cover the bulk of their expenses. The primary function

of insurance is to provide protection against financial losses caused by unforeseen events.

This protection is available to individuals, businessmen and large companies alike.

Types of General Insurance Health

Individual Mediclaim

Group Mediclaim

Reliance Health Wise Policy

Personal Accident

Personal Accident

Group Personal Accident

Fire

Standard Fire and Special Perils

Consequential Loss (Fire)

Industrial All Risks

Engineering

Erection All Risks/Storage-cum-Erection

Contractors All Risks

Contractors Plant and Machinery

Machinery Breakdown Insurance

Machinery Loss of Profits Insurance

Boiler and Pressure Plant Insurance

Electronic Equipment Insurance

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Motor

Private Car Comprehensive

Liability

Directors and Officers Liability

Public Liability (Act)

Public Liability

Product Liability

Professional Indemnity

Workmens compensation

Miscellaneous

Industry Care

Commercial Care

Office Package

Fidelity Guarantee

Burglary and Housebreaking

Money Insurance

Householders Package

Shopkeepers Package

FEATURES OF MEDICLAIM POLICY BASIC FEATURES

Hospitalization Expenses

Daycare Treatment

Domiciliary Hospitalization

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Pre and Post Hospitalization

Coverage of Pre-Existing Diseases

Critical Illness Cover

Donor Expenses

VALUE ADDED FEATURES

Expenses of accompanying person at the Hospital

Local Road Ambulance Services

Recovery Benefit

Cost of Health Check up

Nursing Allowance

Hospital Daily Allowance

POLICY FEATURES

Income Tax Benefit

Family Floater ( 1, 1+1, 1+2, 2+2 )

Sum Insured

Pre-insurance Health Check up

Option in Policy Duration ( 1 & 2 years )

Renewal Discount

Cashless Facility (Through Third Party Administrators - TPA)

Age Slabs

PLAN DETAILS FOR MEDICLAIME INSURANCE

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CHAPTER-1.5

OBJECTIVE OF THE STUDY

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To find the market potential and penetration of Reliance Moneys General

Insurance (Medclaime insurance) in Chennai.

To expand the market penetration of Reliance money.

To increase the product awareness of Reliance money as single window shop for

investment solutions.

To give an idea about the regulations of mediclime insurance

To give an idea of the types of schemes available

CHAPTER-1.6

NEED OF THE STUDY

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The need of the study arises because of the reason that a trainee must understand the

company, its achievements and tasks, products and services and also to collect

information about the market penetration , its products and services offered. So that, after

understanding and collecting information about the organization and its competitors, a

trainee will be able to work well for the organization

CHAPTER-1.7

SCOPE OF THE STUDY

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The scope of the study refers to the job that to know about the activities of the

organization. The study means that the analysis of the products of the company on which

he/she has to focus.

During the summer training the volunteer need to find out the Marketing penetration

strategies of the running company and the mile stone which the company has covered

during its journey. In the summer training, it is necessary for the student that he /she

involve with the experience guys to get the knowledge about the company. That is how

the company has got the success, Or if it is going in the loss, why.

In my training period I have found that the reliance group is the biggest group in Indiancompanies. I felt that I can learn the more in the Reliance General Insurance Limited.

Reliance General Insurance Limited is the part of the Reliance Capital Limited which is a

growing company in the financial products.

Reliance Anil Dhirubhai Ambani group is also deals in communication, energy, naturalresources, media, and entertainment, healthcare and infrastructure

CHAPTER-1.8

LIMITATIONS OF THE STUDY

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1. The survey is confined to Chennai City only.

2. The findings and suggestions are applicable only for Chennai City.

3. Time resources were limited and so the sample size is reduced to 60.

4. Cost incurred a lot while collecting samples.

5. The information obtained from the respondent may be biased.

CHAPTER-2

REVIEW OF LITERATURE

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According to the Websters dictionary, literature is the writings that pertain to a

particular branch of learning, and printed matter. And review means to examine again,

to study carefully.

Therefore literature review is the printed matter which we study very carefully during our

work. This project is also a collection of insight into the different printed material.

As this project is specifically related to STUDY ON MARKET PENETRATION IN

MEDICLIAM INSURANCE.

The insurance institute of India has published books which give an insight into the

life insurance products and general insurance products. The main source of data through

which this project has taken its shape is the circulars of RELIANCE MONEY. These

circulars give description of existing market. The knowledge about the market

penetration is gained from the book principles of marketing written by Philip Kotler.

Chapter on distribution channels in the book marketing channels written by Louis

W.stern & add I.E.I Ansary. Purpose of this book is to provide the detailed knowledge

about what is distribution channel, its importance & role in marketing.

Last but not the least, the practical experiences of reliance money has given the best ever

exposure on the actually market works in financial products and services.

Marketing consists of the strategies and tactics used to identify, create and maintain

satisfying relationships with customers that result in value for both the customer and the

marketer.

American Marketing Association (AMA): "Marketing is the process of planning and

executing the conception, pricing, promotion and distribution of ideas, goods and services

to create exchanges that satisfy individual and organizational goals."

World Marketing Association (WMA): Marketing is the core business philosophy which

directs the processes of identifying and fulfilling the needs of individuals and

organizations through exchanges which create superior value for all parties.

Chartered Institute of Marketing (CIMU) [United Kingdom]: Marketing is the

management process for identifying, anticipating and satisfying customer requirements

profitably.

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Marketing is an integrated communications-based process through which individuals and

communities discover that existing and newly-identified needs and wants may be

satisfied by the products and services of others.

Marketing is defined by the American Marketing Association as the activity, set of

institutions, and processes for creating, communicating, delivering, and exchanging

offerings that have value for customers, clients, partners, and society at large. The term

developed from the original meaning which referred literally to going to market, as in

shopping, or going to a market to buy or sell goods or services.

Marketing concept

The term marketing conceptpertains to the fundamental premise of modern marketing.

This can be laid out as recognizing consumer needs/wants, and making products that

correlate with consumer desires.

Marketing orientations

An orientation, in the marketing context, relates to a perception or attitude a firm holds

towards its product or service, essentially concerning consumers and end-users. There

exist several common orientations:

Sales orientation

A firm using a sales orientation focuses primarily on the selling/promotion of a particular

product, and not determining new consumer desires as such. Consequently, this entails

simply selling an already existing product, and using promotion techniques to attain the

highest sales possible.

Such an orientation may suit scenarios in which a firm holds dead stock, or otherwise

sells a good that is in high demand, with little likelihood of changes in consumer tastes

diminishing demand

Marketing orientation

The marketing orientation is perhaps the most common orientation used in contemporary

marketing. It involves a firm essentially basing its marketing plans around the marketing

concept, and thus forging products to suit new consumer tastes.

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As an example, a firm would employ market research to gauge consumer desires, use

R&D to develop a good attuned to the revealed information, and then utilize promotion

techniques to ensure persons know the good exists. The marketing orientation often has

three prime facets, which are:

Customer orientation

A firm in the market economy survives by producing goods that persons are willing and

able to buy. Consequently, ascertaining consumer demand is vital for a firm's future

viability and even existence as a going concern.

Organizational orientation

All departments of a firm should be geared to satisfying consumer wants/needs.In a

transaction in the market economy, a firm gains revenue, which thus leads to more

profits/market share/sales. A consumer on the other hand gains a need/want that is

satisfied, utility, reliability and value for money from the purchase of a good. As no one

has to buy goods from any one supplier in the market economy, firms must entice

consumers to buy goods, and thus seek to satisfy consumers' utility. If an exchange is not

mutually beneficial in nature, it is not consistent with contemporary marketing ideals.

4Ps ( Marketing mix )

In the early 1960s, Professor Neil Borden at Harvard Business School identified a

number of company performance actions that can influence the consumer decision to

purchase goods or services. Borden suggested that all those actions of the company

represented a Marketing Mix. Professor E. Jerome McCarthy, at the Michigan State

University in the early 1960s, suggested that the Marketing Mix contained 4 elements:

product, price, place and promotion.

Product: The product aspects of marketing deal with the specifications of the

actual goods or services, and how it relates to the end-user's needs and wants. The scope

of a product generally includes supporting elements such as warranties, guarantees, and

support.

Pricing: This refers to the process of setting a price for a product, including

discounts. The price need not be monetary; it can simply be what is exchanged for the

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product or services, e.g. time, energy, or attention. Methods of setting prices optimally

are in the domain of pricing science.

Placement (or distribution): refers to how the product gets to the customer; for

example, point-of-sale placement or retailing. This third P has also sometimes been called

Place, referring to the channel by which a product or service is sold (e.g. online vs.

retail), which geographic region or industry, to which segment (young adults, families,

business people), etc. also referring to how the environment in which the product is sold

in can affect sales.

Promotion: This includes advertising, sales promotion, including promotional

education, publicity, and personal selling. Branding refers to the various methods of

promoting the product, brand, or company.

These four elements are often referred to as the marketing mix, which a marketer can use

to craft a marketing plan.

The four Ps model is most useful when marketing low value consumer products.

Industrial products, services, high value consumer products require adjustments to this

model. Services marketing must account for the unique nature of services.

Industrial or B2B marketing must account for the long term contractual agreements that

are typical in supply chain transactions. Relationship marketing attempts to do this by

looking at marketing from a long term relationship perspective rather than individual

transactions.

As a counter to this, Morgan, in Riding the Waves of Change (Jossey-Bass, 1988),

suggests that one of the greatest limitations of the 4 Ps approach "is that it unconsciously

emphasizes the insideout view (looking from the company outwards), whereas the

essence of marketing should be the outsidein approach".

CHAPTER-3

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RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research

problem. It may be understood as science of studying how research is done scientifically.

In it we study the various steps that are generally adopted by a researcher in studying his

research problem along with the logic behind them. It is necessary for the researcher to

know not only the research methods techniques but also methodology.

Research Design Analytical research

Method of Data Collection Primary and Secondary Data

Research Tool Questionnaire

Contact Mode Direct Contact

CHAPTER-3.1

DEFINITION OF RESEARCH

Research is defined as a scientific and systematic search for on a specific topic. In

short, the search for knowledge through objective and systematic method of finding

solution to the problem is research. The main phrase of research includes statement of

the problem, forming of objective, data collection, analysis and its interpretation.

CHAPTER-3.2

RESEARCH DESIGN

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Research design is some statement or specification of procedure for collecting and

analyzing the information required for the solution of some specific problem. It provides

a scientific framework for conducting some research investigation.

The procedure and the plan for collection and analysis of the information can be

outlined once the problem is formulated and the objectives of the investigation are listed.

ANALYTICAL RESEARCH

Analytical research includes survey and fact-finding enquiries of different kinds.

The major purpose of Analytical research is description of the state of affairs, as it exists

at present. The main characteristic of this method is that the research has no control over

the variables; he has only report what has happened or what is happening.

A survey research has been conducted where by the information has been gathered from

the respondents by administering questionnaires through direct interview.

CHAPTER-3.3

SAMPLING METHOD

SAMPLING POPULATION

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The first step in the sampling is the definition of the population, which can be defined in

terms of element, sampling units extent & time. The attributes that are the object of

study are referred to as characteristics and the unit is generally described as population.

Here population is the residents in Chennai

SAMPLING METHOD:

The approach for the present study is a non-probabilistic approach since the study

is descriptive in nature. The method chosen for the study was convenience sampling.

SAMPLING UNIT

This answer who is to be surveyed. The researcher must define the target

population that has to be sampled. Once this is determined a sampling frame is developed

so that everyone in the population has an equal or known chance of being selected.

SAMPLING FRAME:

A sample frame is a means of representing the elements of the population. A list

containing all elementary units which form the basis of sampling process is called the

sampling frame. Thus it consists of list of items from which the sample is to be drawn.

Some of them are the non existing consumers, corporate offices and direct contact etc.

A sample frame is required if a probability sample is to be taken. Since the present study

is non-probabilistic in nature, a sampling frame has not been defined.

SAMPLING SIZE:

It is an important decision that has to be taken while adopting the sampling

technique. It means the number to sampling units selected from the population for

investigation. The total sample size is 60.

CHAPTER-3.4

METHOD OF DATA COLLECTION:

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According to the information needs, the sources of data are chosen. There are two

types of information primary data and secondary data.

Primary data refer to information obtained firsthand by the researcher on the

variables of interest for the specific purpose of the study. Apart from the individuals who

provide information when interviewed, administered Questionnaires

Secondary data is provided either through internal sources i.e., within the firm or

through external sources i.e., website, builders, library and corporation officers from

outside the firm.

According to the information needs of the present study, primary data was collected. The

borrowers being the main source of information, the target respondents where those

living within Chennai.

METHOD OF DATA COLLECTION:

After selecting the type and sources of information required a data collection

measurement technique was developed. The option available for data collection is.

Questionnaire

The method most suitable for the study is questionnaire method which was concluded

after identifying the information needs of the study. Hence it was adopted by the

researches. The questionnaire for the study consisted of close-ended questions for

analyzing and interpreting better results.

CONTACT METHOD

PERSONAL INTERVIEWS

This is the most suitable method to have better response and to have clear picture

of their opinions.

CHAPTER-3.5

STATISTICAL TOOLS USED:

The data after collection has to be processed and analyzed with the outline laid

down for the purpose at the time of developing the research plan. This is essential for a

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scientific study and ensuring that we have all relevant data for making contemplated

analysis.

Statistical tools used for the study:

Percentage Analysis

Percentage Analysis:

Percentage Analysis is one of the traditional statistical

tools. The data in this method are reduced in the standard from with base equal to

hundred which facilitates relative comparison. Formulae used to calculate percentage

analysis is:

Number of Respondents

Total Respondents

CHAPTER-4

ANALYSIS AND INTERPRETATION

TABLE 4.1

Table showing AGE PROFILE OF THE RESPONDENTS

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Percentage of Respondents = X 100


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Interpretation:

From the above table it is clear that 50% of the respondents fall under the

age group between 40-50, whereas 30% fall under the age group above 50years and 20%

fall under the age group of less than 30 years

The above table is depicted in the following chart

CHART 4.1

Chart showing AGE PROFILE OF THE RESPONDENTS

0

5

10

15

20

25

30

Response

30-40

40-50

>50

Age Group Response Percentage

30-40 12 20%

40-50 30 50%

>50 18 30%

Total 60 100%

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TABLE 4.2

Table showing ANNUAL INCOME OF THE RESPONDENTS

Interpretation:

From the above table it is clear that 40% of the Respondents earns

between 2-5 lakhs, while 32% of the respondents are those who earn above 5 lakhs.

There exists 28% of the respondents earns less than 2 lakhs.


CHART 4.2

Chart showing ANNUAL INCOME OF THE RESPONDENTS

Income Response Percentage

5 Lakhs 19 32%

Total 60 100%

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0

5

10

15

20

25

Response

5lakhs

TABLE 4.3

Table showing OCCUPATION OF THE RESPONDENTS

Interpretation:

The nature of occupation plays a vital role in studying the ratio of

population. The above displayed statistical data shows that 27% of the respondents are

businessmen, 31% of them are professionals and 42% of the respondents are found to be

employees


CHART 4.3

Occupation Response Percentage

Business 16 27%

Professional 19 31%

Employed 25 42%

Total 60 100%

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Chart showing OCCUPATION OF THE RESPONDENTS

0

5

10

15

20

25

Response

Business

professional

employed

.

TABLE 4.4

Table showing RESULT OF PERCENTAGE OF SAVING SPEND FOR MEDICAL

EXPENSES

Percentage Response Percentage

Upto10% 24 40%

Upto25% 14 23%

Upto50% 12 20%

>50% 10 17%

Total 60 100%

Interpretation: This shows that people save only up to 10% of their earnings for the

medical expenses. Hence, effective and efficient steps should be taken to woo the

customers to save that money for mediclaim insurance.


CHART 4.4

Chart showing RESULT OF PERCENTAGE OF SAVING SPEND FOR MEDICAL

EXPENSES

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0

5

10

15

20

25

Response

upto10%

upto25%

upto50%

above50%

TABLE 4.5

Table showing PEOPLE WITH ENOUGH ASSETS STILL NEED A MEDICLAIM

POLICY

Still need a policy Response Percentage

YES 41 67%

NO 19 33%

TOTAL 60 100%

Interpretation: The chart shows that respondents having enough assets to maintain their

family medical expenses, though but them still need medicliam insurance is 67%. But

there are people who dont need mediclaim insurance are 33%, hence company have to

take some steps to reduce it.


CHART 4.5

Chart showing PEOPLE WITH ENOUGH ASSET STILL NEED A MEDICLAIM

POLICY

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0

5

10

15

20

25

30

35

40

45

Response

yes

no

TABLE 4.6

Table showing PEOPLE HAVE A MEDICAL COVER UNDER EMPLOYEE SCHEME

STILL NEED A MEDICLAIM POLICY

Still need a policy Response PercentageYES 26 43%

NO 34 57%

TOTAL 60 100%

Interpretation: The chart shows that respondents having a medical cover under employee

schemes still they need mediclaim policy is 43%, which is less then the respondents

doesnt need a policy is 57% . So that company has to take some action to cover the

employed people.


CHART 4..6

Chart showing PEOPLE HAVE A MEDICAL COVER UNDER EMPLOYEE SCHEME

STILL NEED A MEDICLAIM POLICY

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0

5

10

15

20

25

30

35

Response

yes

no

TABLE 4.7

Table showing PURPOSE OF AVAILING MEDICLIAM INSURANCE

PURPOSE RESPONSE PERCENTAGE

HEALTH PROTECTION 28 47%

TAX BENEFITS 26 43%

OTHERS 6 10%TOTAL 60 100%

Interpretation: The chart shows that the respondents avail medicliam insurance for the

purpose of Health protection is 47%, Tax benefits is 43%, and others is 10%. Health

protection & Tax benefits are in nearest percent, company has to concentrate on both the

plans.


CHART 4.7

Chart showing PURPOSE OF AVAILING MEDICLIAM INSURANCE

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0

5

10

15

20

25

30

Response

Health protection

Tax benefits

others

TABLE 4.8

Table showing RESULT OF AWARENESS OF POLICY SCHEAMS

AWARENESS Response Percentage

YES 21 35%

NO 39 65%

Total 60 100%

Interpretation: Although there is high brand equity among the target audience yet, it is

to be noted that the customers are not aware of the policys provided by the company

meaning thereby, that, the company should concentrate more towards promotional tools

and increase its focus on product awareness rather than brand awareness


CHART 4.8

Chart showing RESULT OF AWARENESS OF POLICY SCHEAMS

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0

5

10

15

20

25

30

35

40

Response

yes

no

TABLE 4.9

Table showing MODE OFAWARENESS

Mode Response Percentage

Media advertising 22 37%

Friends & relatives 9 15%

Hoardings 6 10%

Agents 23 38%

Total 60 100%

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Interpretation: The chart shows that the mode of awareness of policys to the

respondents through Media advertising is 37%, friends & relatives is 15%,agents is 38%

and the hoardings is 10%, company have to concentrate on media advertising, agents so

tat the policy awareness spread to all the people.


CHART 4.9

Chart showing MODE OFAWARENESS

0

5

10

15

20

25

Response

MediaAdvertising

friend's &

Relatives

Hoardings

agent's

CHAPTER-5

FINDINGS

1. About 50% of the respondents belonged to the age group of 30-40 years.

2. About 40% of the respondents come from the income category of Rs 2 -5 lakhs.

3. About 38% of the respondents found Media advertising as the most effective tool

And 37% of the respondents found Agents as the most effective tool

4. Most of the respondents (42%) are found to be in Employment.

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5. Most of the people feel that mediclaim insurance is essential but they think that

life insurance polices are better

6. Although there is high brand equity among the target audience, yet it is to be

noted that the customers are not aware of the polices provided by the company

7. Most of the respondents (67%) are having enough assets to see their family

through but the people still need a medicliam insurance policy.

8. Employed respondents (57%) having a medical cover under employee schemes do

not need a added medicliam policy.

CHAPTER-6

SUGGESTIONS & RECOMMENDATIONS

The most vital problem spotted is of ignorance. Insurer should be made aware

of the benefits. Nobody will invest until and unless he is fully convinced. Insured shouldbe made to realize that ignorance is no longer bliss and what they are losing by not taking

insurance.

The advisors may try to highlight some of the value added benefits of Mediclaim

insurance such as Income Tax Benefit, Family Floater, Sum Insured, Pre-insurance

Health Check up, Renewal Discount, Cashless Facility (Through Third Party

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Administrators TPA etc. these benefits are not offered by other options single-

handedly. So these are enough to drive the insurer towards mediclaim insurance. Insurer

could also try to increase the spectrum of services offered

Reliance Money has to add some extra features in it with aggressive marketing

promotional strategy.

The company should concentrate more towards promotional tools and increase its

focus on product awareness rather than brand awareness

Product must be improved

Media Advertisement and Agents is the main source of attraction so the company

must advertise its products heavily.

CHAPTER-7

CONCLUSION

With the globalized economy and immense competition among countries

for faster development of their respective economies, the significance of Insurance and

Foreign investment has taken manifold. Importance and the role of Insurance, Mutual

funds and FIIs play in the Indian stock market can be seen from the fact that the recent

surge in Sensex and NIFTY is attributed to the active participation of FIIs in the Stock

Market

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All though relatively new entrants are in the market, Reliance is slowly but

surely gaining a strong hold because it is finally able to grasp the investment climate in

Chennai. Secondly, the branch managers at all the branches are very knowledgeable with

a lot of experience in the financial markets so under their leadership can definitely

expand its base.

A good brand is always welcomed here and people are more aware and

conscious for the brand so they go for they are ready to spend some extra bucks for the

quality.Right now Reliance is at its nascent stage and will surely grab the major marketunder its belt very soon like in other fields At last all cons are concluded by that Reliance

Money is still growing industry in India and is still exploring its potential and prospects

in here.

QUESTIONNAIRE

STUDY ON MARKET PENETRATION IN MEDCLIME INSURANCE

Dear Respondent, I kindly request you to spend your valuable time in filling up the

questionnaire.

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PERSONAL DETAILS

Name ..

Address ..

..

Age ( ) 30-40 ( ) 40-50 ( ) >50

Annual Income

( ) < 2 lakhs ( ) 2 lakhs 5 lakhs ( ) > 5lakhs

Occupation

( ) Business ( ) Profession ( ) Employed

Contact no

1) What percentage of your savings would you spend for the medical expenses

( ) 20%

2) How often do you have a medical check up

( ) Yearly ( ) only when I take a insurance policy

3) You have enough asset to see your family through

( ) Yes ( ) No

3, a) Do you still needs a mediclime policy?

( ) Yes ( ) No

4) Do you have a medical cover under employee scheme

( ) Yes ( ) No

4, a) Do you still needs a mediclime policy?

( ) Yes ( ) No

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5) Does your health policy cover all your family members, and illnesses as well

( ) Yes ( ) No

6) Purpose of availing medical insurance

( ) Health Protection ( ) Tax benefits ( ) others

7) Are you aware of Reliance Medicliam policy schemes

( ) Yes ( ) No

8) Mode of awareness of policys

( ) Media Advertising ( ) friends& relatives ( ) Hoardings ( ) Agents

We offer you a free advisory service, kindly mention the suitable time

for calling______

BIBLIOGRAPHY

Marketing Management (2002 Edition) Philip Kotler

Research methods for business (Fourth Edition)-Uma Sekaran

Research Methodology (Second Edition)-C.R.Kothari

www.reliancemoney.com

www.marketingteacher.com

www.google.com

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A Study on Market Penetration in Medicliam Insurance

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