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KOTAK GROUP COMPANIES

Kotak Mahindra Group is mainly into financial services which encompass

insurance, mutual funds, banking, investments and other activities of similar

nature. These various financial service activities have been controlled by different

subsidiary of Kotak Mahindra group. The group companies and respective

activities are given below:

KOTAK MAHINDRA GROUP

KOTAK MAHINDRA BANK LTD

The Kotak Mahindra Finance Ltd established in 1985 which is Kotak Mahindra

Groups flagship company got converted into a bank Kotak Mahindra Bank in

March 2003. It is the first Indian company to convert into a bank. Its banking

operations offer a central platform for customer relationships across the groups

various businesses. The bank has a presence in the commercial vehicles, retail

finance, corporate banking, treasury and housing finance.

KOTAK MAHINDRA CAPITAL COMPANY

The Kotak Mahindra Capital Company Ltd is known as Indias premier

Investment bank and a primary dealer which is approved by the RBI. KMCCs

core business areas include private equity, insurance, mergers and acquisitions,

structured finance and advisory services, fixed income securities and principal

business.

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KOTAK SECURITIES

Kotak Securities Ltd is one of Indias largest brokerage and securities distribution

house in India. It has been one of the leading investment broking houses catering

to the needs of both institutional and non institutional investor categories with its

presence all over the country through franchises and coordinators. Kotak

Securities Ltd offers both online and offline services which is based on well

researched expertise and financial products to the non institutional investors.

KOTAK MAHINDRA PRIME

Kotak Mahindra Prime Ltd is formerly known as Kotak Mahindra Primus Ltd. It

has been formed with the objective of financing the retail and wholesale trade of

passenger and multi utility vehicles in India. Kotak Mahindra Prime offers

customers retail finance for both new as well as used cars and wholesale finance

to dealers in the automobile trade.

KOTAK MAHINDRA ASSET MANAGEMENT COMPANY

Kotak Mahindra Asset Management Company is a subsidiary of Kotak Mahindra

Bank. It is the asset manager for Kotak Mahindra Mutual Funds. KMMF manages

funds in excess of Rs 11000 crores and offers schemes catering to investors with

various risk return profiles. It is the first fund house in the country to launch a

dedicated gilt scheme investing only in government securities.

KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD

Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture between KMB

LTD and Old Mutual Plc. Kotak Life Insurance help customers to take important

financial decisions at every stage in life offering them a wide range of innovative

life insurance products, to make them financially independent.

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INDIAN LIFE INSURANCE INDUSTRY OVERVIEW

All life insurance companies in India have to comply with the strict

regulations laid out by Insurance Regulatory and Development Authority of India

(IRDA). Therefore there is no risk in going in for private insurance players. In

terms of being rated for financial strength like international players, only ICICI

Prudential is rated by Fitch India at National Insurer Financial Strength Rating of

AAA (Ind) with stable outlook indicating the highest claims paying ability rating.

Life Insurance Corporation of India (LIC), the state owned behemoth,

remains by far the largest player in the market. Among the private sector players,

ICICI Prudential Life Insurance(JV between ICICI Bank and Prudential PLC) and

Max New York Life Insurance are the largest followed by Bajaj Allianz Life

Insurance Company Limited (JV between Bajaj Group and Allianz). The private

companies are coming out with better products which are more beneficial to the

customer. Among such products are the ULIPs or the Unit Linked InvestmentPlans which offer both life cover as well as scope for savings or investment

options as the customer desires. Further, these type of plans are subject to a

minimum lock-in period of three years to prevent misuse of the significant tax

benefits offered to such plans under the Income Tax Act. Hence, comparison of

such products with mutual funds would be erroneous.

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http://www.maxnewyorklife.com/http://www.maxnewyorklife.com/

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COMMISSION / INTERMEDIATION FEES

The maximum commission limits as per statutory provisions are:

Agency commission for retail life insurance business:

1st year commission varies from 2% to 40% depends on yhe

product and 2nd year onwards it varies from 1% to 7%

Maximum broker commission - 30%

However, the above commission may be further subject to the product

wise limits specified by IRDA while approving the product.

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LIST OF LIFE INSURERS

Apart from Life Insurance Corporation, the public sector life insurer, there

are 17 other private sector life insurers, most of them joint ventures between

Indian groups and global insurance giants.

LIFE INSURER IN PUBLIC SECTOR

1. Life Insurance Corporation of India

LIFE INSURERS IN PRIVATE SECTOR

1. Bajaj Alliums Life

2. Max New York Life Insurance

3. ICICI Prudential Life Insurance

4. Tata AIG Life

5. HDFC Standard Life

6. Burls Sunlife

7. SBI Life Insurance

8. Kotak Mahindra Old Mutual Life Insurance

9. Aviva Life Insurance

10. Reliance Life Insurance Company Limited - Formerly known as AMP

Sanmar LIC

11.Metlife India Life Insurance

12.ING Vysya Life Insurance

13. Max Newyork Life Insurance

14.Shriram Life Insurance

15.Bharti AXA Life Insurance Co Ltd16.Sahara Life Insurance

17.Future General Life Insurance Co Ltd

18.IDBI Fortis Life Insurance Co Ltd

19.Aegon Religare Life Insurance Co Ltd

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http://en.wikipedia.org/wiki/Life_Insurance_Corporation_of_Indiahttp://www.bajajallianzlife.co.in/http://www.maxnewyorklife.com/http://www.maxnewyorklife.com/http://www.iciciprulife.com/http://en.wikipedia.org/wiki/Reliance_Life_Insurance_Company_Limitedhttp://www.maxnewyorklife.com/http://www.saharalife.com/http://en.wikipedia.org/wiki/Life_Insurance_Corporation_of_Indiahttp://www.bajajallianzlife.co.in/http://www.maxnewyorklife.com/http://www.iciciprulife.com/http://en.wikipedia.org/wiki/Reliance_Life_Insurance_Company_Limitedhttp://www.maxnewyorklife.com/http://www.saharalife.com/

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OBJECTIVE OF THE STUDY

The following are the main objectives of the mini project:-

A LEARNING PHASE

The experience of the one month in the company and in the field together is

going to be a great learning phase in the project and this also includes getting to

know and learn the corporate culture of the work life at Kotak Life Insurance,

which will be carried forward as a great strength and achievement for the whole

of the career ahead.

INTERACTING WITH PEOPLE

Being a Marketing student, meeting people in and out the company would be

another main objective and it would help in developing contacts with the people

around and it would always helpful in a successful business life.

VALUE ADDITION TO THE COMPANY

This project will also result in value addition to the company and it would result in

getting more distributors.

TIME MANAGEMENT

One of the key resources of any professional is Time. There would be a clear

time frame in each and every work of the corporate world. The time taken to do

anything is an indicator of the skill of the doer.

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RESEARCH METHODOLOGY

The process which works upon is as shown in the figure below.

Define the problem and research objectives

Develop the research plan

Collect the information

Analyze the information

Present the findings

Make the decision/Give solution

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DEFINITION OF THE PROBLEM AND THE RESEARCH OBJECTIVES

Identification of the problemis thereby realizing the untapped resources.

Less awareness among the people about the benefits and the knowledge

of the company and its service.

DEVELOP THE RESEARCH PLAN

The second stage is development of the most efficient plan for gathering

the needed information.

DATA SOURCES

The data gathered, is through the secondary data and the primary data.

The Secondary data collected was that which was already collected for another

purpose and already exist. Primary data is the data freshly gathered for this

specific purpose and the research project.

Secondary data has provided a starting point for the research. The normal

procedure that is followed to interview people individually to get a sense of

people feels about the company and its service.

RESEARCH APPROACH

The kind of research approach used is the survey research. The survey is

helpful learning about peoples knowledge, beliefs, preferences, and satisfaction,

and to measure these magnitudes in the general population.

RESEARCH INSTRUMENT

The research instrument used is the Questionnaire.

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SAMPLING PLAN

The sample size plan consists of 80 financial distributors in Cochin.Themost versatile contact method that could be followed is the personal interviewing.

COLLECTION OF INFORMATION

The data collection phase is the most delicate and prone to errors.

ANALYZE THE INFORMATION

The next process is to extract the findings from the collected data.

PRESENT THE FINDINGS

The last would be to present the findings that are relevant for the decision

facing the management.

CONCLUSION OR PRESENTING THE SOLUTIONS

This would be based on the study would be the last major step to be

followed.

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INSURANCE

The Indian insurance sector is on a bull run. The average Indian now

spends 5.4 times as much on life insurance as what s/he did seven years ago

when the industry was yet to be opened up for private participation.

With the largest number of life insurance policies in force in the world,

India's insurance sector accounted for 4.1 per cent of GDP in 2006-07, up from

1.2 per cent in 1999-2000, far ahead of China where insurance accounts for just1.7 per cent of the GDP and even the US where insurance penetration stands at

4 per cent of the GDP.

Indians are now setting aside a larger chunk of their income on life

insurance when measured as a percentage of GDP. They are allocating a small

amount of their take-home to buy insurance products given their rising equated

monthly installment (EMI) payments for home mortgage and other loans.

The growth in insurance premium collections has spelt an opportunity for

the equity market too. The industry's investment in the equity market stood at

US$ 38.1 billion and the assets under management were at US$ 152.6 billion as

on March 31, 2007.

Indian insurance companies recorded a 19.9 per cent growth in premium

in dollar terms (adjusted for inflation) in 2006-07, compared to the world market

growth rate of 2.9 per cent. This rate of growth of the industry looks particularly

impressive when seen against the fact that the combined penetration of both life

and non-life is less than 2 per cent of the GDP compared to world average of

7.52 per cent. Clearly, the scope for growth is enormous.

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LIFE INSURANCE

Led by the Life Insurance Corporation (LIC), the life insurance industry

registered a growth of 110 per cent in fiscal 2006-07, taking the total business to

US$ 19.2 billion from the previous year's US$ 9.1 billion. The life insurance

market has grown rapidly over the past six years, with new business premiums

growing at over 40 per cent per year owing to the entry of a host of new players

with significant growth aspirations and capital commitments.

The total life insurance market premiums is likely to more than double

from the current US$ 40 billion to US$ 80-US$100 billion by 2012, says a study

by McKinsey. The study titled 'India Insurance 2012: Fortune Favours the Bold,'

expects a rise in premiums between 5.1 and 6.2 per cent of the GDP in 2012

from the current 4.1 per cent driven by greater insurance intensity per capita as

the average per capita income increases and rise in penetration in urban and

rural areas.

The life insurance premium contributions per capita have jumped from a

little over US$ 7 in 1999-2000 (pre-liberalisation) to US$ 38.5 in 2006-07.

Life insurance penetration in India - which was less than 1 per cent till

1990-91 - increased to 2.53 per cent in 2005, and to 3 per cent in 2006-07. The

impetus for growth has come from both public and private insurers. Also, the

number of players in this segment has also increased to 17 (16 in private sector),

with Life Insurance Corporation (LIC) being the dominant player (market share of

about 74 per cent).

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INNOVATIVE TRENDS

Insurance in India has been spurred by product innovation, streamlining ofsales and distribution channels along with targeted advertising and marketing

campaigns.

The kid's insurance segment in the insurance sector is witnessing

increased activity. Children's products such as ICICI Prudential Life's 'SmartKid',

Birla Sun Life's 'Children's Dream Plan', or HDFC Standard 'Life's Young Star

Plus', are on a consistent growth path. According to industry estimates, currently,

20-30 per cent of business of many companies comes from children-specific

insurance policies alone.

Emerging lifestyle trends amid a changing fabric of the Indian society have

also modified social and financial behaviour. For instance, an increase in the

number of working women has led to a demand for life insurance policies, which

in turn has helped women through a micro-entrepreneurship initiative (women

have flexibility - managing home and being financially independent as distributors

of insurance).

The Road Ahead . . . .

Market penetration tends to rise as incomes increase, particularly in life

insurance. India, with its huge middle-class households and growing economy

has exhibited huge potential for this sector. Current estimates say that, for every

one per cent increase in the GDP, insurance premiums increase by at least 4 per

cent.

The domestic insurance industry in India is estimated to be around US$

60.5 billion by 2010, of which US$ 35 billion will come from rural and semi-urban

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areas. While the life insurance market is expected to grow to US$ 35 billion, non-

life insurance market will touch an estimated US$ 25 billion.

KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD.

Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture

between Kotak Mahindra Bank Ltd. and Old Mutual plc. Kotak Mahindra Old

Mutual Life Insurance is one of the fastest growing insurance companies in India

and has shown remarkable growth since its inception in 2001.

At Kotak Life Insurance, we aim to help customers take important financial

decisions at every stage in life by offering them a wide range of innovative life

insurance products, to make them financially independent.

Old Mutual, a company with 160 years experience in life insurance, is an

international financial services group listed on the London Stock Exchange and

included in the FTSE 100 list of companies, with assets under management

worth $ 400 Billion as on 30th June, 2006. For customers, this joint venture

translates into a company that combines international expertise with the

understanding of the local market.

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PRODUCTS

INDIVIDUAL

Kotak Smart Advantage

Kotak Eternal Life Plans

Kotak Platinum Advantage Plan

Kotak Headstart Child Plans

Kotak Sukhi Jeevan Plan

Kotak Privileged Assurance Plan

Kotak Term Plan

Kotak Preferred Term Plan

Kotak Money Back Plan

Kotak Child Advantage Plan

Kotak Endowment Plan

Kotak Capital Multiplier Plan

Kotak Retirement Income Plan

Kotak Retirement Income Plan

(Unit-linked)

Kotak Safe Investment Plan II

Kotak Flexi Plan

Kotak Easy Growth Plan

Kotak Premium Return Plan

Riders

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http://www.kotaklifeinsurance.com/omkm3/products/ksap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kelp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kplat.htmhttp://www.kotaklifeinsurance.com/omkm3/products/headstart.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksjp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kpap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ktp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kptp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kmbp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kep.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcmp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksip2.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kfp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kegp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kprp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/riders.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kelp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kplat.htmhttp://www.kotaklifeinsurance.com/omkm3/products/headstart.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksjp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kpap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ktp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kptp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kmbp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kep.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcmp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksip2.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kfp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kegp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kprp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/riders.htm

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GROUP

Employee Benefits

Kotak Term Grouplan

Kotak Credit-Term Grouplan

Kotak Complete Cover Grouplan

Kotak Gratuity Grouplan

Kotak Superannuation Grouplan

RURAL

Kotak Gramin Bima Yojana

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TABLE 1

TABLE SHOWING WHETHER THE RESPONDENTS ARE ASSOCIATED

WITH KOTAK MAHINDRA GROUP

NO OF RESPONDENTS PERCENTAGE

YES 15 19

NO 65 81

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 81% of the respondents are not

associated with Kotak Mahindra group and 19% of the respondents are

associated with Kotak Mahindra group.

CHART 1

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CHART SHOWING WHETHER THE RESPONDENTS ARE

ASSOCIATED WITH KOTAK MAHINDRA GROUP

YES, 19

NO, 81

YES NO

TABLE 2

TABLE SHOWING WHETHER THE RESPONDENTS HAVE TAKEN LIFE

INSURANCE POLICIES


YES 58 72

NO 22 28

TOTAL 80 100

INTERPRETATION:

From the above table it is clear that 72% of the respondents have taken

life insurance policies and 28% has not taken life insurance policies.

CHART 2

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CHART SHOWING WHETHER THE RESPONDENTS HAVE

TAKEN LIFE INSURANCE POLICIES

YES, 72

NO, 28

YES NO

TABLE 3

TABLE SHOWING WHETHER THE RESPONDENTS ARE AWARE OF THE

POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA


YES 75 94

NO 5 6

TOTAL 80 100

INTERPRETATION:

From the above table it is shown that 94% of the respondents are aware

of the potential of life insurance industry in India and 6% of the respondents are

not aware of the potential of life insurance industry in India.

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CHART 3

CHART SHOWING WHETHER THE RESPONDENTS ARE AWARE

OF THE POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA

YES, 94

NO, 6

YES NO

TABLE 4

TABLE SHOWING WHETHER THE RESPONDENTS THINK THAT

INSURANCE IS A GOOD INVESTMENT PLAN


YES 72 90

NO 8 10

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 90% of the respondents think that

insurance is a good investment option and 10% of the respondents think that

insurance is not a good investment option.

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CHART 4

CHART SHOWING WHETHER THE RESPONDENTS THINK THAT

INSURANCE IS A GOOD INVESTMENT PLAN

YES, 90

NO, 10

YES

NO

TABLE 5

TABLE SHOWING WHETHER THE RESPONDENTS HAVE CONSIDEREDSELLING INSURANCE AS AN ADDITIONAL BUSINESS OPTION


YES 36 45

NO 44 55

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 55% of the respondents have

considered selling insurance as an additional business option and 45% of the

respondents has not considered selling insurance as an additional business

option.

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CHART 5


CONSIDERED SELLING INSURANCE AS AN ADDITIONAL

BUSINESS OPTION

YES, 45

NO, 55

YES NO

TABLE 6

TABLE SHOWING WHETHER THE RESPONDENTS ARE DEALINGWITHNOR SELLING LIFE INSURANCE PRODUCTS OF ANY COMPANY


YES 37 46

NO 43 54

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 54% of the respondents are not

dealing with or selling life insurance products of any company and 46% of the

respondents are dealing with or selling life insurance products of any company.

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CHART 6

CHART SHOWING WHETHER THE RESPONDENTS ARE

DEALING WITH OR SELLING LIFE INSURANCE PRODUCTS OF

ANY COMPANY

YES, 46

NO, 54

YES NO

TABLE 7

CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT THEY CANEARN UPTO 40% OF THE FIRST YEAR PREMIUM AS COMMISSION


YES 33 41

NO 47 59

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 59% of the respondents dont know

that they can earn upto 40% of the first year premium as commission and 41% of

the respondents know that they can earn upto 40% of the first year premium as

commission

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CHART 7

CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT

THEY CAN EARN UPTO 40% OF THE FIRST YEAR PREMIUM AS

COMMISSION

YES, 41

NO, 59

YES NO

TABLE 8

TABLE SHOWING WHETHER THE RESPONDENTS HAVE HEARD OFKOTAK HEAD START, NO.1 CHILD PLAN RATED BY 'OUTLOOK MONEY'


YES 25 31

NO 55 69

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 69% of the respondents has not

heard of Kotak head start, no.1 child plan rated by 'outlook money' and 31% of

the respondents have heard of Kotak head start, no.1 child plan rated by 'outlook

money'

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CHART 8


HEARD OF KOTAK HEAD START,NO.1 CHILD PLAN RATED BY

'OUTLOOK MONEY'

YES, 31

NO, 69

YES NO

TABLE 9

TABLE SHOWING WHETHER THE RESPONDENTS HAVE HEARD ABOUTKOTAK SAFE INVESTMENT PLAN, WHICH INVESTS UPTO 80% OF THEFUND IN EQUITY MARKET, STILL GIVING CAPITAL GUARANTEE


YES 43 54

NO 37 46

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 54% of the respondents are have

heard about kotak safe investment plan, which invests upto 80% of the fund in

equity market, still giving capital guarantee and 46% of the respondents has not

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heard about kotak safe investment plan, which invests upto 80% of the fund in

equity market, still giving capital guarantee.

CHART 9

CHART SHOWING WHETHER THE RESPONDENTS HAVEHEARD ABOUT KOTAK SAFE INVESTMENT PLAN,WHICH

INVESTS UPTO 80% OF THE FUND IN EQUITY MARKET,STILL

GIVING CAPITAL GUARANTEE

YES, 54

NO, 46

YES NO

TABLE 10

TABLE SHOWING WHETHER THE RESPONDENTS KNOW ABOUT THEEARNING POTENTIAL BY SELLING LIFE INSURANCE PRODUCTS


YES 69 86

NO 11 14

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 86% of the respondents know

about the earning potential by selling life insurance products and 14% of the

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respondents chart showing whether the respondents dont know about the

earning potential by selling life insurance products.

CHART 10

CHART SHOWING WHETHER THE RESPONDENTS KNOW

ABOUT THE EARNING POTENTIAL BY SELLING LIFE

INSURANCE PRODUCTS

YES, 86

NO, 14

YES NO

TABLE 11

TABLE SHOWING WHETHER THE RESPONDENTS KNOW THAT THERE ISNO CAPITAL REQUIREMENT FOR STARTING INSURANCE DISTRIBUTION


YES 65 81

NO 15 19

TOTAL 80 100

INTERPRETATION:

From the above table it is inferred that 81% of the respondents know that

there is no capital requirement for starting insurance distribution and 19% of the

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respondents know that there is no capital requirement for starting insurance

distribution.

CHART 11

CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT

THERE IS NO CAPITAL REQUIREMENT FOR STARTING

INSURANCE DISTRIBUTION

YES, 81

NO, 19

YES NO

TABLE 12

TABLE SHOWING WHETHER THE RESPONDENTS LIKE TO ASSOCIATEWITH KOTAK LIFE INSURANCE


YES 20 25

NO 60 75

TOTAL 80 100

INTERPRETATION:

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From the above table it is inferred that 75% of the respondents like to

associate with kotak life insurance and 25% of the respondents do not like to

associate with kotak life insurance.

CHART 12

CHART SHOWING WHETHER THE RESPONDENTS LIKE TO

ASSOCIATE WITH KOTAK LIFE INSURANCE

YES, 25

NO, 75

YES NO

FINDINGS

Majority of the customers are not associated with the Kotak group

companies. Only 19% are associated with Kotak group companies.

It is found that around 72% of the respondents have taken any life

insurance policy from several life insurance companies and the rest are

not insured.

It is found that 94% of the respondents are aware of the potential of life

insurance industry in India and 6% of the respondents are not aware of

the potential of life insurance industry in India.

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Majority of the respondents think that insurance is a good investment

option because of high returns and less risk.

It is found that 55% of the respondents have considered selling insurance

as an additional business option and 45% of the respondents has not

considered selling insurance as an additional business option.

It is found that 54% of the respondents are not dealing with or selling life

insurance products of any company and 46% of the respondents are

dealing with or selling life insurance products of any company.

Almost all the customers are satisfied with services provided by their

insurer.

Around 59% of the respondents dont know that they can earn upto 40%

of the first year premium as commission and 41% of the respondents

know that they can earn upto 40% of the first year premium as

commission.

Majority of the respondents are not aware of Kotak head start, no.1 child

plan rated by 'outlook money'.

Majority of the respondents have heard about kotak safe investment plan,

which invests upto 80% of the fund in equity market, still giving capital

guarantee.

Majority of the respondents do not want to associate with kotak lifeinsurance.

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SUGGESTIONS

The company has to spend more on marketing expenses to increase

awareness among population on Kotak head start, no.1 child plan rated by

'outlook money' and kotak safe investment plan.

The company has to identify segments such as NRIs,house wives and

pensioners to increase the penetration among life insurance advisors.

The company has to concentrate more on acquiring people who are

associated with other insurance companies to penetrate the market.

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The company has to go in-depth into the customer data base of kotak

group companies to acquire more customers.

Proper advertisements and clear-cut picture about the schemes are to be

provided to attract customers.

LIMITATIONS

1. DIFFICULT TO GET APPOINTMENT

Getting the appointment to speak about product and company is a

Herculean task in the modern world because of the hectic schedule of the

business people as the target group is High Net Worth.

2. TIME CONSTRAINT

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For getting better results, the researcher has to schedule their work

beyond the allotted time. But this cannot be possible in all circumstances. In

many occasions meeting location of the people might be different. This

consumes lot of time of a day and it minimizes the work schedule. And there is a

big time gap in making a kind of good relationship with customers which makes a

strong basement for doing survey. So it is very difficult to get business in initial

stages. In this way there is a lose of opportunities for making business. Traveling

though out the city and its traffic blocks are another barriers in the survey.

3. SINGLE BRANCH OPERATIONS AND DIFFERENTIATED FACILITIES AND

SERVICE

Many times the single branch operations are not convenience for the

customers especially the people who are doing business with other locations.

When there is a company introducing new facilities and service, it takes a quiet

bit of time to get faith of the people.

CONCLUSION

On a whole the project is a eye opener towards the practical side of the

business scenario. The knowledge acquired through classroom sessions could

be put to use in a real practical world. This serves as the right platform for

professional development. The first hand experiences of the corporateatmosphere and the culture practiced gave an insight into the true professional

attitude.

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As a result of the hard-core work and efforts made t overcome many

hurdles and obstacles on the path of the project work, better results are obtained

and the company realizes the results of our work through the materialization of

sales of their product. Also from the responses of the public that is conveyed to

the organization as a part of project work, really help the company in their work

process. In this way itself many customer complaints are sold up to a remarkable

extent. The types of marketing strategies adopted by us really help the

organization to boost up their brand image and there by resulted in better returns.

REFERENCES

BOOKS

1. Marketing Management PHILIP KOTLER

2. Introduction to Quantitative Methods C.R.KOTHARI

WEBSITE

www.kotak.com

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www.indiainfoline.com

www.wikepedia.com

QUESTIONNAIRE

Date of data collection :

Name of the concerned person, designation :

Name of the company :

Contact address

1. Have you associated any way with Kotak Mahindra Group?

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Yes no

2. Have you taken life insurance policies?

Yes no

If yes, with which company?.........................................................

If no, would you like to take now?..................................................

3. Are you aware of the potential of life insurance industry in India?

Yes no

4. Do you think that insurance is a good investment option?

Yes no

5. Have you considered selling insurance as an additional business option?

Yes no

6. Are you dealing with, or selling life insurance products of any company?

Yes no

If yes, with which company?..................................................................

If no,would you like to start insurance distribution?...............................

7. Are you satisfied with the service and support they provide?

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Yes no

8. Do you know you that you can earn up to 40% of the first year premium ascommission?

Yes no

9. Are u aware that there is no capital required for starting life insurancedistribution?

Yes no

10. Have u heard about Kotak safe investment plan which invest up to 80% ofthe fund in equity market but still gives capital guarantee?

Yes no

11. Have you heard about Kotak Head Start, No.1Child plan in India rated byoutlook money?

Yes no

12. Would you like to get associated with Kotak life insurance?

Yes no

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- Thank you -

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