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CHAPTER I INTRODUCTION Developing a salutary social climate in organization calls for predicting and estimating the individual’s responses or reactions for certain changes. Predispositions to react on the basis of learned preferences are fundamental in individual behavior. What is the mechanism that triggers off when an individual is influenced? We are here referring to attitudes a person possesses. Attitude is an internal state of person that is focused on objects, events, people that can exist in the person’s psychological world. An individual’s behavior is also a function of attitudes. An attitude is also a cognitive element; it always remains inside a person. Everyone’s psychological world is limited and thus everyone has a limited number of attitudes. In business organization, employees have attitudes
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Page 1: Customer Perception About Birla Sunlife

CHAPTER I

INTRODUCTION

Developing a salutary social climate in organization calls for

predicting and estimating the individual’s responses or reactions for

certain changes. Predispositions to react on the basis of learned

preferences are fundamental in individual behavior. What is the

mechanism that triggers off when an individual is influenced? We are

here referring to attitudes a person possesses. Attitude is an internal

state of person that is focused on objects, events, people that can exist

in the person’s psychological world. An individual’s behavior is also

a function of attitudes. An attitude is also a cognitive element; it

always remains inside a person. Everyone’s psychological world is

limited and thus everyone has a limited number of attitudes. In

business organization, employees have attitudes related to world

environment, job security or uncertainty, prestige of the product or

department and plant location etc. the individual’s attitudes toward

these factors are indicative of his apathy or enthusiasm toward the

activities and objectives of the organization.

1. An attitude is the predisposition of the individual to evaluate some

object in a favorable or an unfavorable manner.

2. Attitude is a predisposition to respond to a certain set of facts.

3. Attitudes are evaluative statements either favorable or unfavorable,

concerning the people, objects, or events.

An attitude is “a mental state of readiness, organized through

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experience, exerting a specific influence upon a person’s response to

people, objects, and situation with which it is related.” Attitudes thus

state one’s predisposition toward given aspects of world. They also

provide an emotional basis of one’s interpersonal relations and

identification with others.

The definition of attitude entails a much less controversy than any

other cognitive element. In the language of the layman, we may

describe an attitude as the way we feel about something. This may be

a feeling toward college football team, church democracy, parents,

supervisor or organization. The object may be anything people,

things, ideas, policies and so on. The notable feature of attitude is that

it varies in direction, intensity, and the extent of consciousness.

Managers in work organizations need to know and understand

employee’s attitudes in order to manage effectively. Attitudes do

influence behavior of people and their performance in organizations.

OBJECTIVES

1. To get practical exposure to the corporate world.

2. To know customer awareness about Private Insurance sectors.

3. To know about the different Customer’s perceptions.

LIMITATIONS

1. The study is confined to Mysore city only.

2. Sample size is restricted to 50, due to time limit.

3. Responses from the customers may not be accurate. They may be

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partial or biased.

4. Inferences derived may not be applicable to all the regions of the

country, as the area selected for the project is Mysore city only.

CHAPTER -II

REVIEW OF LITERATURE

Jagadish N. Sheth, “An investigation of relationships among

evaluative beliefs, affects, behavioural intention and behaviour in

consumer behaviour” Theory and application, eds. John U Farley,

John A Howard and L Winston

Charles D Schewe and Geoffrey Meredith, “Digging deep to delight

the mature adult consumer” marketing management 3, No.3 (1994)

21-35.

The consumer develops a set of brand beliefs about where each brand

stands on each attribute. The set of beliefs about a brand makeup the

brand image. The Consumer’s brand image will very with his or her

experiences filtered by the effects of selective perception, selective

distortion and selective retention.

Most buyers considers several attributes in their purchase decision. If

we new knew the weights that Linda Brown attaches to the four

attributes, we could more reliably predict her computer choice.

Suppose Linda assigned 40% of the importance to the computers

memory capacity, 30% to its graphics capability, 20% to its size and

10% to its price. To find Linda’s perceived value for each computer,

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we multiply her weights by her beliefs about each computer’s

attributes. This computation leads to following perceived values.

Computer A = 0.4 (10) + 0.3 (8) + 0.2 (6) + 0.1 (4) = 8.0

Computer B = 0.4 (8) + 0.3 (9) + 0.2 (8) + 0.1 (3) = 7.8

Computer C = 0.4 (6) + 0.3 (8) + 0.2 (10) + 0.1 (5) = 7.3

Computer D = 0.4 (4) + 0.3 (3) + 0.2 (7) + 0.1 (8) = 4.7

We would predict that Linda Will favour computer A which (at 8.0)

has the highest perceived value.

In the evaluation stage, the consumer forms preferences among the

brands in the choice set. The consumer may also form an intention to

buy the most preferred brand. How ever two factors can intervene

between the purchase intention and the purchase decision.

The first factor is the attitude of others. The extent to which another

person’s attitude reduces one’s preferred alternative depends on two

things ; The intensity of the other persons negative attitude towards

the consumers preferred alternative and 2). The consumers motivation

to comply with the other persons wishes.

Shift the buyer’s ideals ; The marketer could try to persuade buyers to

change their idea levels for one or more attributes.

The marketing communication that they have been exposed to in the

past such as advertising has to some extent shaped the consumer’s

views at least, that is the fervent hope of marketers. But it should be

recognized that the most influential promotion may come by way of

recommendation from a friend, from an opinion leader or from a

family member. Faced with choices, the purchaser compares the value

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or benefit, derived from the various brands. In this evaluation,

consumers balance the benefits of the purchase against the cost or

price. Some consumer groups or segments or more sensitive towards

price, where as others may be more benefit oriented.

Recent Chinese American immigrants from Hong Kong and Taiwan

read and watch Chinese media, even though they speak and

understand English. Indian Americans, particularly recent immigrants

Miss service the most. They are used to cheap labour and are drawn to

products that promise to make life easier and more convenient.

Many of the traditional life cycles implications remain valid. For

example, couples who marry and have children early tend to display

behavioural patterns consistent with the above description. However,

new groupings emerging based on non – traditional or delayed life

cycles. For example, many couples today may postpone marriage and

parent hood in order to pursue dual careers.

Much work as also been conducted on individual age sub categories.

In may countries for example a long life span has resulted in larger

proportion of mature consumers. The implications of age effects such

as increased ear length, expanded nose breadth and diminishing

height may be profound for marketers catering to older groups such as

garment manufacturers and designers of eye – glasses and hats.

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CHAPTER -III

METHODOLOGY:

The study was conducted by doing a survey of 50 respondents by

adopting a questionnaire method. The survey was conducted using

convenient sampling technique. Then data is analyzed, interpreted and

presented. Finally findings and recommendations are included.

Defining the problem and the research objective: -

The research objective states what information is needed to solve the

problem. The objective of the research is to know the customer’s

perceptions and attitude towards the products of Birla Sun Life

Insurance.

Developing the research plan: -

Once the problem is identified, the next step is to prepare a plan for

getting the information needed for the research. The present study will

adopt the exploratory approach wherein, there is a need to gather large

amount of information before making a conclusion. If required the

descriptive and casual approaches may also be used.

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Collection of data: -

There are two types of data. They are:

1. Primary data: Primary data has been collected from preparing

questionnaire, discussed with Agency Manager and Branch Manager,

Prospective Customers, talking to existing customers.

2. Secondary data: Secondary data has been from company broachers,

company magazines, and text books, Websites.

Analyze the collected information: -

This involves converting raw data into useful information. It involves

tabulation of data and using statistical measures. Here processed data

is graphically represented.

Report research findings: -

The report with the research findings is a formal written document.

The research findings and personal experience will be used to propose

recommendations.

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CHAPTER IV

INDUSTRIAL PROFILE

INDUSTRIAL BACKGROUND

Life insurance scenario prior to the establishment of LIC:

The regulation of the insurance act, 1938 could not control the unfair

practice prevailing with the private insurers. The costs of insurance

were exaggerated and investment returns were minimized. In June

1956, the parliament passed a bill for nationalization of life insurance

business in India and setting up a corporation as the sole agency for

carrying on this business in India. This corporation as the sole agency

for carrying on this business in India. This corporation is known as

life insurance Corporation of India that started functioning from

September 1st, 1956.

Before 1912, the Indian companies Act governed the insurance

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companies. In 1912, the insurance Act was passed which led down

rules and regulations specific to the insurance industry. Amendments

to the Act were made in 1919 and 1928 but the most fundamental

change came about in 1938. Many of the rules introduced then are

still valid.

The Insurance Act, 1938:

? Comprehensive provisions to protect the interest of insuring public.

? The insurance wing was established and attached with the ministry

of finance.

? This wing was responsible for deciding policy matter pertaining to

insurance.

? The controller of insurance looked after actual and operational

matters relating to insurance.

The Act was amended in 1950 and marked some important changes

such as:

? Requirement of equity capital for insurance companies.

? Ceiling on share holidays in such companies.

? Stricter controls on investments of life insurance companies.

? Submission of periodical returns to the controller of insurance.

? Appointment of administrators for mismanaged companies.

? Ceiling on expenses of the management and agency commission.

? Guidelines in the matter of investment of funds.

? Incorporation of Insurance Association of India and formation of

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councils and committees thereof.

The LIC Act, 1956:

The significant point in legislation was the introduction of LIC Act,

1956.Sec.30 of the Act provided the LIC of India, exclusive rights to

carry out life insurance business in India.

? Life insurance business was nationalized with effect from 19

January 1956.

? The LICI Act governed it.

? LIC of India started functioning as a body corporate from 1st

September 1956.

? LIC a body corporate has perpetual succession and common seal.

? It had power to acquire property, hold and dispose it

? He/she could be used in place of its name.

? The IRDA Act because of which, the exclusive privilege given to

the corporation has been withdrawn has amended Sec.30 of the Act.

? LIC has a board and various committees vies., the executive

committee, the investment committee, personal advisor committee,

building advisor committee.

Sec.38 provides that any law cannot liquidate LICI, unless the central

government orders for and directs it to do so.

The Malhotra committee, 1994:

Under the chairmanship of the former governor of the RBI, Mr. R.N.

Malhotra, the government appointed a committee on reforms in the

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insurance sector to go into these issues in depth and make

recommendations. The committee examined the issues relating to

restructuring of Insurance companies (both life and general

insurance).

There was a rapid growth in the volume of LIC’s business. The

number of new policies issued every year by the LIC was the order

one core though it had 5.7 cores policies in force. There was even

found a vast scope for further growth in the business. In this context,

the committee examined the adequacy of the present structure of LIC

to meet the future challenges. It was felt that it would appear that

handling of this business of the branch level was all ready confronting

some difficulties .it was suggested that quite a few of its problems

flow form its gigantic size and therefore, breaking up LIC into small

organization would help as these would be more efficient and

effective in addressing changing conditions. It was also acknowledge,

however, that breaking up LIC would involve some complex

technical and other problems.

Liberalization of insurance industry

The Malhotra committee has given careful thought to the question

whether the insurance sector, which has for long been a state

monopoly, should be open up to competition and has included that

this would be desirable for the following reasons:

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? Introduction of competition should result in better customer service

and help improve the variety and price of insurance product.

? The employees unions and representatives of agents have expressed

opposition to the idea of introducing competition. There is however, a

strong view among corporate respondents covered by the MARG

Survey as well as among many of those who appeared before the

committee business. As for life insurance, individual policyholders

covered by the MARG Survey were equally divided on the issue.

Almost half of such respondents were opposed to the idea. On the

ground that their savings may not be safe with private companies. At

the same time, when asked to indicate what they thought would be the

advantages of a reputed private organization offering life insurance,

identified these as better service, prompt settlement of claims and

better return on their policies. A large majority of respondents who

are corporate clients of LIC favored the entry of the private sector in

life insurance business.

? Although the nationalized insurance industry has, over the decades,

built up extensive business. There is still a vast untapped potential and

many lines of business have remained under developed. Arrival of

new players should speed up the spread of both life and non-life

(general) insurance.

The committee submitted its report in 1994 recommending:

? The government’s stake in the insurance companies to be brought

down to 50%. All insurance companies to be given greater freedom to

operate.

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? Private companies with a minimum paid up capital of Rs.100 crore

are allowed to enter the industry. No company should deal both in life

and in general insurance through a single entity.

? Foreign companies may be allowed to enter in collaboration with

domestic companies.

? The insurance Act to be amended to give greater autonomy to

companies to improve their performance and act as independent

regulatory body.

? Based on the above recommendations of the malohotra committee,

the IRDA bill was passed in 1999.

Present Life Insurance Scenario:

Sl. No. Insurers Foreign Partners Regn. No. Date of Registration Year

of Operation

1. HDFC Standard Life Insurance Co. Ltd. Standard Life Assurance,

UK 101 23.10.2000 2000-01

2. Max New York Life Insurance Co. Ltd. New York Life, USA 104

15.11.2000 2000-01

3. ICICI-Prudential Life Insurance Co. Ltd. Prudential , UK 105

24.11.2000 2000-01

4. Om Kotak Life Insurance Co. Ltd. Old Mutual, South Africa 107

10.01.2001 2001-02

5. Birla Sun Life Insurance Co. Ltd. Sun Life, Canada 109 31.01.2001

2000-01

6. Tata-AIG Life Insurance Co. Ltd. American International

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Assurance Co., USA 110 12.02.2001 2000-01

7. SBI Life Insurance Co. Ltd. BNP Paribas Assurance SA, France

111 29.03.2001 2001-02

8. ING Vysya Life Insurance Co. Ltd. ING Insurance International

B.V., Netherlands 114 02.08.2001 2001-02

9. Allianz Bajaj Life Insurance Co. Ltd. Allianz, Germany 116

03.08.2001 2001-02

10. Metlife India Insurance Co. Ltd. Metlife International Holdings

Ltd., USA 117 06.08.2001 2001-02

11. Reliance Life Insurance Co. Ltd. (Earlier AMP Sanmar Life

Insurance Company from 3.1.02 to 29.9.05)

--- 121 03.01.2002 2001-02

12. AVIVA Aviva International Holdings Ltd., UK 122 14.05.2002

2002-03

13. Sahara Life Insurance Co. Ltd. --- 127 06.02.2004 2004-05

14. Shriram Life Insurance Co. Ltd. Sanlam, South Africa 128

17.11.2005 2005-06

15. Bharti AXA Life Insurance Co. Ltd. AXA Holdings, France 130

14.07.2006 2006-07

16. Future Generali India Life Insurance Company Ltd. Pantaloon

Retail Ltd.; Sain Marketing Network Pvt. Ltd. (SMNPL), Generali,

Italy 133 04.09.2007 2007-08

17. IDBI Fortis Life Insurance Company Ltd. Fortis, Netherlands 135

19.12.2007 2007-08

18. Canara HSBC OBC Life Insurance Company Ltd. HSBC, UK 136

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08.05.2008 2008-09

19. Aegon Religare Life Insurance Company Ltd. Religare,

Netherlands 138 27.06.2008 2008-09

20. DLF Pramerica Life Insurance Co. Ltd. Prudential of America,

USA 140 27.06.2008 2008-09

21. Life Insurance Corporation of India 512

COMPANY PROFILE

BIRLA SUN LIFE INSURANCE COMPANY LTD

Insurance is not about something going wrong. It’s often about things

going right. One of the wonders of human nature is that we never

believe anything can actually go wrong; surely, life has its share of

its. Life insurance is a product that helps you protect your dependents

from financial difficulties in the unfortunate event of your death or

disability depriving them of the financial support that they get today.

Birla Sun Life believes it has its equally pleasant share of buts as

well. It stands committed to helping people realize those happy

moments, which make a life.

Birla Sun Life Insurance Company Limited is a joint venture between

the Aditya Birla Group, one of the largest business houses in India

and Sun Life Financial Inc., a leading international financial services

organization. The Aditya Birla Group has a turn over close to Rs.

42000 crores with a market capitalization of Rs. 45500 crores (as on

31st March 2009). It has over 83000 employees across all it’s units

worldwide. It is led by its chairman- Mr. Kumar Mangalam Birla. At

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the Aditya Birla Group, growth with excellence is away of life. It has

810000 shareholders spread across 40 companies situated around the

globe. A premium conglomerate, the Aditya Birla Group is a

dominant player in all of the sectors in which it operates, such as

aluminum, viscose staple fibre, copper, cement, branded apparel

(Grasim Suiting), viscose filament yarn, chemicals, carbon black,

fertilizers, sponge iron, power, insulators, telecom, financial services,

and more recently, insurance. It is the world’s largest producer of

white cement, the largest single location refiner of palm oil, the third

largest producer of carbon black, amongst the lowest cost producers

of aluminum globally and the largest fully integrated aluminum

producer in India.

Sun Life Financial and it’s partners today have operations in key

markets worldwide, including Canada, the united states, the united

kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China

and Bermuda. Sun Life Financial Inc. had assets under management

of over US$ 381 billion, as on 31st March 2008. It has a history that

dates back to 1871, and has evolved from a single mutual life

insurance to one of the most highly rated insurance and wealth

management institutions in the world. It also lies in the culture of

integrity and the pursuit of excellence that have marked all of the

organizations endeavors. In March of 2000, Sun Life Financial

services of Canada, Inc, Sun Life Financials parent company, listed

it’s shares on stock markets in Toronto, New York, London and

Philippines. This new access to shareholders equity provides Sun Life

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Financial with even greater opportunities to grow around the world

A TRUE LEADER

Being one of the largest corporate houses in India, the Aditya Birla

Group enjoys a dominant in all the sectors in which it operates. It is

the world’s largest producer of Viscose Staple Fibre, largest single

location aluminum plant and the largest single location refiner of

Palm Oil. What’s more, it is the second largest producer of Carbon

Black in the World.

In India, the group is the single largest producer of Viscose Filament

yarn, Aluminum, White Cement and the third largest in Grey Cement.

Not to mention, the recognition of being the market leader in the

ready to wear branded apparel segment with brands like Allen Solly,

Louis Phillip, Van Heusen and Peter England.

The flagship companies of the Aditya Birla Group include some of

the largest in India such as Grasim Industries Limited. Hindalco

industries Limited, Indian Aluminum Company Limited, Indian

Rayon Industries Limited, and Indo Gulf Corporation Limited. The

Group has forged power relationships with large corporations like

Hindustan Petroleum, Tata, Powergen Plc and AT&T.

LEARNING, TO GROW--GROWING, TO LEARN.

The group fosters a culture that promotes excellence and rewards

entrepreneurship. It endeavors to make the workspace a source of

creativity, innovation and self-fulfillment for its employees. Nurturing

a corporate culture imbedded with a high level of commitment and a

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sense of shared destiny.

The mission of the Aditya Birla Group is creation of value for its

customers, shareholders, employees and the society at large.

A WORLD-CLASS ACT

Sun Life Financial is a leading international financial services

organization providing a diverse range of wealth accumulation and

protection products and services to individuals and corporate

customers. Tracing its roots back to 1865, Sun Life Financial and its

partners today have operations in key markets worldwide, including

Canada, The United States, The United kingdom, Hong Kong, The

Philippines, Japan, Indonesia, India, China and Bermuda. As of

March 31, 2008, the Sun Life Financial group of companies had total

assets under management of US $381 billion.

Sun Life Financial Inc. Trades on the Toronto (TSX) New York

(NYSE) and Philippine (PSE) stock exchanges under ticker symbol

“SLF”.

INNOVATIONS FOR A BETTER LIFE.

The Sun Life Financial group of companies around the world, offer

innovative customized and practical financial solutions to individuals

and corporations in areas of:

• Life, health and disability.

• Pension Funds.

• Investment Management.

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• Annuities and Savings.

• Trust, Brokerage and Banking.

IN PURSUIT OF EXCELLENCE.

Sun Life Assurance Company of Canada Sun Life Financier’s

primary insurance business, has excellent ratings with the world’s top

rating agencies and is amongst the largest international financial

services organizations in the world.

A.M.Best A++

Fitch AA

Moody’s AA2

Standard & Poor’s AA+

A joint venture between the Aditya Birla Group and Sun Life

Financial, Birla sun Life Insurance forayed into the life insurance and

retirement planning business by pioneering the unique Unit-linked

Solutions in India. In just over 2 years of its launch, the company has

catapulted to second position in new business premium in the highly

competitive private Life Insurance industry based on its strategy of

Unit-Linked Plans.

VISION.

To be a world class provider of financial security to individuals and

corporate and to be amongst the top three private sector life insurance

companies in India.

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MISSION.

To be the first preference of our customers by providing innovative

need based life insurance and retirement solutions to individuals as

well as corporate. Well-trained professionals through a multi channel

distribution network and supervisor technology will make these

solutions available.

Our endeavor will be to private constant value addition to customers

throughout their relationship with us, within the regularly framework.

We will provide career development opportunities to our employees

and the highest possible returns to our shareholders.

OUR VALUES.

? Integrity

? Commitment

? Passion

? Seamlessness

? Speed

Birla Sun Life has several joint ventures in financial services under its

umbrella band.

While The Aditya Birla Group contributes its local insight, Sun Life

Financial puts in its global expertise in the areas of protection and

wealth management. The cornerstones of the partnership are mutual

respect, integrity and customers focus. The joint venture companies

are currently engaged in the activities of asset management, life

insurance and retail .

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BIRLA SUN LIFE ASSET MANAGEMENT COMPANY.

Birla Sun life asset management Company offers a spectrum of 17

investment schemes including 2 offshore funds, designed to cater to

every need of the investor. With total assets under management of

Rs.8, 326 crore as on 31st July 2008 and investor base of more than

6.82 lack folios, it is one of India’s leading Asset Management

companies.

Its research based approach to investment strength ness its ability to

identify companies, which have strong fundamentals and excellent

credit-worthiness

The organization places a lot of emphasis on equality of management

and risk control, through extensive analysis that includes factory visits

and field research.

Birla Sun life Asset management Company has one of the largest

team of research analysts in the industry, dedicated to tracking down

the best companies to invest in. Setting standards in providing

transparent, ethical and research based investments and wealth

management services.

BIRLA SUN LIFE DISTRIBUTION.

Birla Sun Life Distribution Company is today a leading distributor of

financial products at a national level, through a large network of

branches and channel partners. BSDL provides customized

investment solutions to all range of investors encompassing

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Corporate, Trusts, Associations, Retail segment as well as high net

worth individuals.

With the objective of nourishing customer’s wealth, the distribution

company is committed to excellence through research and technology.

Within a short span of 4 year’s, the company has more than 1,00,000

investors across the country. With more than 1,500 business

associates across segments-institutional, high net worth individuals

and retail. It has a presence 13 cities with assets under management

worth Rs.3, 500 crores. BSDL is one of the first distribution houses in

the country to be ISO 9001, 2000 certified.

Birla Sun Life Insurance’s business operations are guided by two of

its crore values, namely ‘Integrity’ and ‘Transparency’. BSLI

compiles with all regulations governing the life insurance business. A

high degree of transparency is followed in all the business practices

and procedures and all employees are governed by an ‘Internal Code

of Conduct’.

BSLI abides by the Corporate Governance framework in accordance

with the Kumar Managalam Birla Committee as applicable to the life

insurance business, as well as the provisions of the Insurance Act,

1938, The Companies Act, 1956 and the IRDA regulations.

The various committees overseeing the business are :-

BOARD OF DIRECTORS.

? Mr. Donald A. Stewart

? Mr. Kumar Managalam Birla

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? Mr. Ajay Srinivasan

? Mr. Gian Gupta

? Mr. Bishwanyh N.Puramlka

? Mr. Venkatesh Mysore

? Mr. Stephan Royotte

? Mr. Suresh Talwar

Asset Liability Management Committee

Mr. Ajay Srinivasan; Managing Director

Mr. Bishwanath N. Puranmalk; Non - Executive Director

Mr. Venkatesh Mysore; Non - Executive Director

Mr. Mayank Bathwal; Chief Financial Officer

Mr. Fabien Jeudy; Chief Actuarial Officer & Appointed Actuary

Mr. Vikram Kotak; Chief Investment Officer

Ms. Keerti Gupta; Head - Investment Risk Management & Operations

AUDIT COMMITTEE.

Mr. Ajay Srinivasan; Managing Director

Mr. Gian P. Gupta; Independent Director

Mr. Bishwanath N. Puranmalka; Non - Executive Director

Mr. Venkatesh Mysore; Non - Executive Director

Mr. Stephan Rajotte; Non - Executive Director

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INVESTMENT COMMITTEE.

Mr. Ajay Srinivasan; Managing Director

Mr. Bishwanath N. Puranmalka; Non - Executive Director

Mr. Venkatesh Mysore; Non - Executive Director

Mr. Mayank Bathwal; Chief Financial Officer

Mr. Fabien Jeudy; Chief Actuarial Officer & Appointed Actuary

Mr. Vikram Kotak; Chief Investment Officer

Ms. Keerti Gupta; Head - Investment Risk Management & Operations

RISK MANAGEMENT COMMITTEE

Mr. Ajay Srinivasan; Managing Director

Mr. Gian P. Gupta; Independent Director

Mr. Venkatesh Mysore; Non - Executive Director

FINANCE COMMITTEE

Mr. Ajay Srinivasan; Managing Director

Mr. Gian P. Gupta; Independent Director

Mr. Bishwanath N. Puranmalka; Non - Executive Director

Mr. Stephan Rajotte; Non - Executive Director

SHARE ALLOTMENT COMMITTEE

Mr. Gian P. Gupta; Independent Director

Mr. Suresh N. Talwar; Independent Director

Mr. Bishwanath N. Puranmalka; Non - Executive Director

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Mr. Venkatesh Mysore; Non - Executive Director

Apart from the above committees overseeing the business operations,

the CEO and CFO certify the audited accounts of the company and

Company Secretary a compliance certificate.

INDIVIDUAL LIFE PLANS

PLANS FOR A HAPPIER LIFE

Flexi Securable retirement plan: This is a Unit-Linked retirement plan

to give you efficient returns in the long term so as to build a

sufficiently large corpus of savings on retirement. The plan is built in

two phases:

The Accumulation phase and Annuity phase. During the

Accumulation phase the plan gives you a choice of three investment

options to invest your money with an option to switch between these

funds to match your risk appetite. What’s more it offers a guaranteed

minimum return of 3% on your premium (deposit) amount net of all

charges and deductions in this phase. In the annuity phase the plan

gives 2 options to choose from.

Flexi Life line Plan: This plan offers a life insurance cover till the age

of 100 tears thus providing you with a lifetime of security. It is an

investment for your future in which you accumulate large savings

through the benefits if compounding. The plan gives you the

flexibility of making tax-free withdrawals and can be customized as

tax efficient Pension plan. You have the option of paying the

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premiums during your working years while the plan continues for a

lifetime.

Flexi Save Plus Endowment Plan: It is a flexible life insurance plan,

which offers the dual benefit of a life insurance cover as well as tax-

free savings in the long term. The plan is taken for a specified period

and the benefits are payable in the event of death during the tenure of

the plan or at maturity. The Unit-Linked nature of the plan coupled

with the benefits of compounding can lead to very efficient returns in

the long term.

Flexi Cash Flow Money Back Plan: It is a flexible life insurance plan,

which offers a life insurance cover and gives lump sum payments at

periodic intervals. These periodic payments help you meet your

various financial obligations at crucial junctures such as education or

marriage of your child. The Unit0Linked plan also offers you the

option of not withdrawing the lump sum accounts and continuing it in

the plan to be advantage of the benefits of compounding.

Birla Sun Life term Plan: The plan offers large Life Insurance cover

for very low costs for a specific term. It is a low premium, pure risk

coverage plan, which takes care of one’s financial commitment

towards his/her dependants, should anything unfortunate happen to

the policyholder.

Birla Sun Life Premium Back Term Plan: The plan offers you a life

insurance cover for a specified tenure. Unlike other Term Plans this

plan refunds the entire amount of premium that you pay over a period

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of time. There are two options of maturity benefits to choose from and

what is more it is a low cost Life Insurance Plan.

GROUP PLANS:

Group Gratuity Solutions: IT WORKS FOR FUTURE - Group

Gratuity addresses the need of prudent financial management for a

progressive corporate house. The unique benefit being it provides

market-linked returns that present an opportunity for capital

appreciation in the long term. Besides, when the fund yields better

returns, it decreases the contribution to the fund in the future years.

Group Superannuating Plan: RETIRE IN COMFORT- Birla Sun Life

Insurance offers Group Superannuating Plan as a retirement solution

for employees. The plan has benefits that empower both the employer

and employee. The contribution is invested in Unit-Linked funds

Yielding market linked returns to meet your future needs efficiently.

Additionally original/principal contribution is guaranteed against

market fluctuations.

Group Protection Plan: EMPLOYEES FIRST- Birla Sun Life

Insurance provides Group Protection Plan for a homogeneous group.

Under this plan, life insurance cover is provided at an affordable cost.

Renewed ever year, it helps fulfill the insurance needs of employees

as well as provide financial security to their families. In the event of

death of the member, the beneficiary (family) of the member gets the

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benefit. The plan has 6 additional riders and two options.

ABOUT MYSORE BRANCH

MYSORE BRANCH

The Mysore branch was established on 19-1-2004, which was headed

by Mr.Anil Vaidyan who was the branch head. The branch is housed

at #101, Darla Opus, 1st Floor, and D.Devaraj Urs Road, Mysore-

570001. Among the 538 branches of Birla Sun Life Insurance

Company’s ten are situated in the Karnataka with the regional office

in Bangalore.

The branch comprises of 42 employees of which 25 are Agency

managers who leads a lot of insurance advisors who are numbering

about 723 in which 426 are actively working and constantly bringing

business. Among the branches in Karnataka, Mysore branch is the

best performing branch. In the year 2008, the branch was able to

produce MDRT’s (Million Dollar Round Table), which is an

international recognition.

ATION OF THE COMPANY’S IN MYSORE IS AS FOLLOWS.

1. LIC

2. ICICI PRUDENTIAL

3. ING VYSYA

4. BIRLA SUNLIFE INSURANCE COMPANY LTD

5. BAJAJ ALLIANZ LIFE INSURANCE.

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THE ORGANIZATION CHART OF THE MYSORE BRANCH

The branch consist of 25 agency managers and around 723 advisors

working under agency managers and it is having a flat structure with

agency managers, marketing support executive, recruitment

executive, accountant, front office executive, back office executive

etc at the middle level.

CHAPTER V

THEORITICAL PERSPECTIVE OF CUSTOMER PERCEPTION

AND ATTITUDE

ATTITUDE

MEANING OF ATTITUDES

Attitudes are another type of individual differences that affects the

behaviour of a person. In a simple way attitudes can be referred to as

evaluate statements, which may either be favourable or unfavourable

regarding people, objects or events. Attitudes are reflections about

someone or something.

Attitude can be defined as relatively lasting feelings, beliefs and

behavioural tendencies directed towards specific people, groups,

ideas, issues or objects.

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Usually attitudes reflect an individual’s background and experiences.

The attitude is formed due to the strong influence of significant

people in a person’s life like elders, parents, friends and members of

social and work groups.

NATURE AND DIMENSIONS OF ATTITUDES

Attitudes are often used to describe people and explain their

behaviour. When people make statements such as “I like her attitude”

or say, “Our sales persons are able to meet their target because they

have positive attitude” they are clearly referring to attitudes.

? If one studies the following statements with reference to attitudes it

will be easy to understand its (attitudes) nature and dimensions.

? Attitude is a continuous tendency to feel and behave in a specific

way towards some object.

? Every person holds attitudes towards an object/person, irrespective

of their status and intelligence. Ramu likes his work (positive attitude)

while his boss does not like working with Ramu (negative attitude).

? Attitudes tend to continue unless something is done to change them.

? Attitudes generally can fall anywhere along a continuum between

extremely favourable to extremely unfavourable.

? Attitudes are aimed at some object about which the person has some

associated feelings.

Thus attitudes are unique to the individual and also affect their

behaviour. When one makes biased evaluative statements such as,

“He is from a poor family and is likely to have stolen the money

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which is lost”. This statement is made in prejudiced attitude. Before

one seeks the reasons for formation of attitudes it may be understood

that some evidence has pointed to genetic influences on the attitudes

that people develop.

CHARACTERISTICS OF ATTITUDE

Attitudes can be distinguished in terms of their valence, multiplexity,

relation to needs, and centrality.

Valence: It refers to the magnitude or degree of favouraleness or

unfavourableness toward the object/event. While measuring the

attitudes we are basically concerned with the valence. If a person is

relatively indifferent toward an object then his attitude has low

valence. O the other hand, if a person is extremely favourable or

unfavourable toward an attitude object, and then his attitude will have

a high valence.

Multiplexity: It refers to the number of elements constituting the

attitude. For example, one student may show interest in studies, but

another shows interest, in addition works hard, sincere, and serious.

Similarly an employee may feel simply loyal to an organization, but

another may feel loyal, respectful, fearful and dependent.

Relation to needs: Attitudes can also vary in relation to the needs they

serve. For instance, attitudes of an individual toward the pictures may

serve only entertainment needs. On the other hand, attitudes of an

individual toward task may serve strong needs for security,

achievement, recognition, and satisfaction.

Centrality: One salient characteristic of the attitude refers to the

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importance of the attitude of the attitude object to the individual. The

centrality indicates the importance of the object. The attitudes, which

have high centrality for an individual, will be less susceptible to

change.

PERCEPTION

One of the important cognitive factors of human behaviour is

perception. It is essentially a psychological process. It is the chief

mechanism by which people come to know about their surrounding

milieu. Perception is the process whereby people select, organize, and

interpret sensory stimulations into meaningful information about their

work environment. There can be no behaviour without perception,

and perception lies at the base of every individual behaviour. The best

supervisor is one who can accurately and precisely estimate

employee’s perceptions and made his moves. Unfortunately, a

manager is not gifted with any set of rules, formulas and techniques to

understand other’s minds and other’s perceptions. He is left with his

own inventiveness, innovative ability, sensitiveness and introspective

skills to deal with perception.

Defined

People in organizations are bombarded constantly by thousands of

visual, auditory, tactile, gustatory, and olfactory stimuli. The critical

question in the study of perception is, “why the same world is viewed

differently by different people. The question still remains as to why?

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An understanding of perception clarifies this point.

1. People’s actions, emotions, thoughts and feelings are triggred by

perceptions of their surroundings.

2. Perceptions are the intellectual process by which a person acquires

the information from the environment, organize it and obtain the

meaning from it.

3. Perception is the basic cognitive or psychological process. The

manner in which a person perceives the environment affects his

behaviour.

4. We define perception as “the process by which people organize,

interpret, experience, process and use stimulus materials in the

environment so that they satisfy their needs”.

NATURE OF PERCEPTION

It is to be noted that perception is a unique interpretation of the

situation by the individual and that it is not an identical recording of

it. Thus we have to remember:

Perception is a complex cognition process, giving a unique

interpretation of the world, which may be very much different from

reality at times.

There is a lot of difference between the perceptual world and the real

world.

Many of the problems occurring in organizations are often found to be

the problems of perception.

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WHY MANAGERS STUDY PERCEPTION?

“We all observe that the sun rises in the east and sets in the west”’ but

in reality it never rises nor sets. A layman never accepts the reality but

prefers to stay in his perceived world. Whereas a space scientist not

only accepts the reality but tries to educate others. Perceived world is

not the real world but has a high feeling of reality. The feeling is so

strong that we seldom question what we see and perceive. A manager

is like a space scientist who is able to distinguish between a perceived

world and the real world. He should know how the perceptions

develop and the real world. He should know the perceptions develop

and have a deep-seated appeal to the employees. Manager needs to

recognize that the employees react to perceptions, not reality.

Whether a job is interesting or challenging is irrelevant: whether a

manager is actually helping his subordinates more effectively or not is

also irrelevant.

FACTORS INFLUENCING PERCEPTION

It has been understood that each one of us may see the same person,

object or event and yet think of it differently. Supposing you visit an

arts and craft exhibition, took a look around and then ask your friend

also to visit the exhibition. Later on, when you exchange notes with

your friend, you will be surprised to note that your friend’s views and

expressions about the display differ significantly. Why is this so? This

occurs because of the influence of several factors of perception.

Usually individuals are involved in a process of perceptual selection

whereby people filter out most stimuli so that they can deal with the

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most important ones. This process depends on several factors; let us

have a look at those, which affect the perceptual process.

1.PERCEIVER

The understanding of what a person interprets when looking at the

object or target being perceived will be influenced by the personal

traits of the individual who perceives this.

? Attitudes influence a person’s perception.

? Unsatisfied needs or motives influence an individual’s perception

strongly.

? One’s interests can also influence the perceptual process.

? One’s experience in the past can also narrow down one’s focus. And

newness or novelty also influences perception.

? Expectations also influence an individual’s perception

2.THE TARGET

? What one sees and perceives will generally depend on how one

separates the figure from its general background.

? At times event physical and time proximity makes one put together

objects or targets even when they are unrelated.

? At times people have the tendency to perceive people, objects or

events that are similar to each other also as being grouped together.

4. THE SITUATION

? Time

? Work environment

? Social environment

? Light

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CHAPTER VI

DATA COLLECTION,

ANALYSIS AND INTERPRETATION

DATA COLLECTION

INDIVIDUAL LIFE PLANS

PLANS FOR A HAPPIER LIFE

Flexi Securable retirement plan: This is a Unit-Linked retirement plan

to give you efficient returns in the long term so as to build a

sufficiently large corpus of savings on retirement. The plan is built in

two phases:

The Accumulation phase and Annuity phase. During the

Accumulation phase the plan gives you a choice of three investment

options to invest your money with an option to switch between these

funds to match your risk appetite. What’s more it offers a guaranteed

minimum return of 3% on your premium (deposit) amount net of all

charges and deductions in this phase. In the annuity phase the plan

gives 2 options to choose from.

Flexi Life line Plan: This plan offers a life insurance cover till the age

of 100 tears thus providing you with a lifetime of security. It is an

investment for your future in which you accumulate large savings

through the benefits if compounding. The plan gives you the

flexibility of making tax-free withdrawals and can be customized as

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tax efficient Pension plan. You have the option of paying the

premiums during your working years while the plan continues for a

lifetime.

Flexi Save Plus Endowment Plan: It is a flexible life insurance plan,

which offers the dual benefit of a life insurance cover as well as tax-

free savings in the long term. The plan is taken for a specified period

and the benefits are payable in the event of death during the tenure of

the plan or at maturity. The Unit-Linked nature of the plan coupled

with the benefits of compounding can lead to very efficient returns in

the long term.

Flexi Cash Flow Money Back Plan: It is a flexible life insurance plan,

which offers a life insurance cover and gives lump sum payments at

periodic intervals. These periodic payments help you meet your

various financial obligations at crucial junctures such as education or

marriage of your child. The Unit0Linked plan also offers you the

option of not withdrawing the lump sum accounts and continuing it in

the plan to be advantage of the benefits of compounding.

Birla Sun Life term Plan: The plan offers large Life Insurance cover

for very low costs for a specific term. It is a low premium, pure risk

coverage plan, which takes care of one’s financial commitment

towards his/her dependants, should anything unfortunate happen to

the policyholder.

Birla Sun Life Premium Back Term Plan: The plan offers you a life

insurance cover for a specified tenure. Unlike other Term Plans this

plan refunds the entire amount of premium that you pay over a period

Page 38: Customer Perception About Birla Sunlife

of time. There are two options of maturity benefits to choose from and

what is more it is a low cost Life Insurance Plan.

GROUP PLANS:

Group Gratuity Solutions: IT WORKS FOR FUTURE - Group

Gratuity addresses the need of prudent financial management for a

progressive corporate house. The unique benefit being it provides

market-linked returns that present an opportunity for capital

appreciation in the long term. Besides, when the fund yields better

returns, it decreases the contribution to the fund in the future years.

Group Superannuating Plan: RETIRE IN COMFORT- Birla Sun Life

Insurance offers Group Superannuating Plan as a retirement solution

for employees. The plan has benefits that empower both the employer

and employee. The contribution is invested in Unit-Linked funds

Yielding market linked returns to meet your future needs efficiently.

Additionally original/principal contribution is guaranteed against

market fluctuations.

Group Protection Plan: EMPLOYEES FIRST- Birla Sun Life

Insurance provides Group Protection Plan for a homogeneous group.

Under this plan, life insurance cover is provided at an affordable cost.

Renewed ever year, it helps fulfill the insurance needs of employees

as well as provide financial security to their families. In the event of

death of the member, the beneficiary (family) of the member gets the

benefit. The plan has 6 additional riders and two options.

Page 39: Customer Perception About Birla Sunlife

ANALYSIS AND INTERPRETATION

1. Age Group

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When researcher wants to know the age group of respondents the

following is the results from respondents.

Table No. 1

Age Group No. Of Respondents Percentage

20-30 25 50%

30-40 08 16%

40-50 12 24%

50-60 05 10%

Total 50 100%

Graphical Representation of Age Group of Respondents

Interpretation

Out of 50 respondents sampled,

25 of them belonged to the age group of 20-30,

08 of them belonged to the age group of 30-40,

12 of them belonged to the age group of 40-50,

05 of them belonged to the age group of 50-60.

2. Occupation of Respondents

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When researcher wants to know about the occupation of respondents,

the following is the result from them:

Table No. 2

Occupation No. Of Respondents Percentage

Employer 5 10%

Self employed 31 62%

Employee 14 28%

Total 50 100%

Graphical Representation of Occupation of the Respondents

Interpretation

Out of respondents served,

Page 42: Customer Perception About Birla Sunlife

05 of the respondents are employer,

31 of the respondents are self-employed,

14 of the respondents are employee.

3. Annual income

When researcher wants to know about annual income of respondents,

the following is the result from the respondents.

Table No. 3

Annual income No. Of Respondents Percentage

< 100000 21 42%

100000-300000 21 42%

300000-500000 8 16%

>500000 Nil 0

Total 50 100%

Graphical representation of Annual Income of Respondents

Interpretation

Out of 50 respondents,

Page 43: Customer Perception About Birla Sunlife

21 of them belonged to the annual income of < 100000,

21 of them belonged to the annual income of 100000-300000,

08 of them belonged to the annual income of 300000-500000.

4. Have u taken any insurance policy?

Researcher wanted to know whether respondents have taken any

insurance policy, the response is as follows:

Table No. 4

Different Options No. Of Respondents Percentage

Yes 37 74%

No 13 26%

Total 50 100%

Graphical representation of respondents whether they have taken

insurance policy or not.

Interpretation

Out of 50 respondents sampled,

37 have taken any insurance policy,

13 have not taken any insurance policy.

This means 26% of the population can be our prospective customers.

5. In which company you have policy?

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When researcher wants know about in which company they taken

insurance policies, the following is the result:

Table No.5

Different Options No. Of Respondents Percentage

LIC 26 52%

Bajaj Allianz 2 4%

Birla Sun Life Insurance 7 14%

ING Vysya 2 4%

ICICI Prudential 3 6%

Met Life 1 2%

SBI Life 0 0

Graphical presentation of Insurance Companies where Respondents

have Insured

Interpretation

Out of respondent 50 respondents selected,

26 of them have insured from LIC,

02 of them have insured from Bajaj Allianz,

07 of them have insured from Birla Sun Life Insurance,

02 of them have insured from ING Vysya,

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03 of them have from ICICI Prudential,

01 of them have insured from Met Life

6. How do you know Birla Sun Life Insurance?

When respondents were asked, how they have come to know about

Birla Sun Life Insurance, following is the response:

Table No. 6

Particulars No. Of Respondents Percentage

Friends 13 26%

Relatives 14 28%

Advisors 21 42%

Others 02 4%

Total 50 100%

Graphical Presentation of Awareness Level

Interpretation

Out of 50 respondents when they were asked, how they came to know

about Birla Sun Life Insurance,

13 of them said they came to know about Birla Sun Life Insurance

through Friends,

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14 of them said they came to know about Birla Sun Life Insurance

through Relatives,

21 of them said they came to know about Birla Sun Life Insurance

through Advisors,

02 of them said they came to know about Birla Sun Life Insurance

through Others.

7. Why does u like Birla Sun Life Insurance?

When Researcher wants to know why respondents like Birla Sun Life

Insurance the following is the results:

Table No. 7

Particular No. Of respondents Percentage

Services 8 16%

Plans 8 16%

Brand name 20 40%

Returns 14 28%

Total 50 100%

Graphical presentation of the purpose why respondents like Birla Sun

Life Insurance

Page 47: Customer Perception About Birla Sunlife

Interpretation

Out of 50 respondents served,

08 of them liked Birla Sun Like Insurance for its Services,

08 of them liked Birla Sun Like Insurance for its Plans,

20 of them liked Birla Sun Like Insurance for its Brand names,

14 of them liked Birla Sun Like Insurance for its Returns.

8. What is the opinion about the products of Birla Sun Life Insurance?

When respondents were asked to express their opinion about the

products of Birla Sun Life Insurance, they said that:

Table No. 8

Particulars No. Of Respondents Percentage

Excellent 0 0

Very good 17 34%

Good 32 64%

Poor 1 02%

Total 50 100%

Graphical Presentation of Results of Products

Interpretation

Page 48: Customer Perception About Birla Sunlife

Out of 50 Respondents Selected,

None of them Said that product is Excellent,

17 of them said that product of Birla Sun Life Insurance is Very

Good,

32 of them said that product of Birla Sun Life Insurance is Good,

01 of them said that product of Birla Sun Life Insurance is Poor

9. What is the purpose of taking policies from particular Company?

When the Researcher wanted to know about the purpose of taking an

insurance policy, following is the response:

Table No. 9

Particular No. of Respondents Percentage

Savings 13 26%

Risk Coverage 26 52%

More returns 11 22%

Total 50 100%

Graphical presentation of Purpose of Insurance

Interpretation

Out of 50 respondents selected,

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13 of them have taken policies for the purpose of Savings,

26 of them have taken policies for the purpose of Risk coverage,

11 of them have taken policies for the purpose of More returns.

CHAPTER VII

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FINDINDS AND SUGGESTIONS

FINDINGS

? From the survey it was found that, the respondents of age group of

20-30 is 52%.

? The respondents of age group of 40-50 is 26%

? As 20-30 age groups are youngsters, they have now started to earn

and the responsibilities towards family is less.

? From the survey, it was found that out of 50 respondents 62% of the

respondents are self-employed.

? From the data collected it was found that 42% of respondents are

from annual income of < 1,00,000 and 42% of respondents from

annual income of 1,00,000-3,00,000.

? From the survey it was found that out of 50 respondents, 38

respondents i.e., 76% of them are already insured and 24% of the

respondents are not insured.

? Out of 50 respondents sampled, 42% of respondents came to know

about Birla Sun Life Insurance through advisors.

? Out of 50 respondents surveyed, 40% of the respondents liked Birla

Sun Life Insurance for its brand name.

? Out of 50 respondents served, 64% of the respondents expressed

their opinion about the products of Birla Sun Life Insurance as good.

? Out of 50 respondents sampled, 52% of the respondents have taken

insurance policies for the purpose of risk coverage.

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SUGGESTIONS

? As the major percentage of respondents is the age group of 20-30,

the responsibility towards the family will be less and the company can

concentrate on these age groups. They may be the prospective

customers for the company.

? As the respondents of the age group of 40 –50 are 26%, they will be

in almost in their half-life. So, for the purpose of securing their future

they might go for investments, for them company can suggest

retirement plans or pension plans.

? Self-employment seems to be the order of the day. These

entrepreneurs (small or big) work hard and earn more. Hence

company can concentrate on this ‘self employed’ group focusing on

returns. Through advertisements and other means.

? As 42% of respondents are from annual income of <100000,

company can concentrate on them by introducing small plans and

creating the awareness about those plans to them.

? As 24% of respondents are not insured out of 50 respondents,

company can create awareness about the products of Birla Sun Life

Insurance by conducting drawing competitions in various schools.

They can create more awareness through children to their parents

? As 42% of respondents came to know about Birla Sun Life

Insurance through advisors, so company can motivate advisors by

giving still more incentives and conducting training Programme for

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advisors.

? As 40% of the respondents liked Birla Sun Life Insurance for its

brand name out of 50 respondents, company can keep up the good

will or reputation what it has now.

? As 64% of respondents expressed their opinion about the products

of Birla Sun Life Insurance as good, company can improve the

products of Birla Sun life insurance and company can highlight the

features and benefits of the products of Birla Sun Life Insurance in

advertisements.

CONCLUSION

The study aimed at knowing the customer perception and attitude

towards the products of Birla Sun Life Insurance and conclusion has

been drawn after carrying out analysis of the data.

? It is seen that the respondents have invested more in life insurance

schemes, which is a positive stroke to the insurers. This proves the

point that there is a strong presence of insurance in Mysore City.

? Majority of the respondents are insurance policy holders, the

insurance business dominated by LIC, still there are larger market

opportunities for other private players.

? Awareness of Birla Sun Life Insurance in Mysore City is high and

this is created by Birla Sun Life Insurance Advisors. According to the

survey most of the respondents liked Birla Sun Life Insurance

because of its Brand name and for its services providing to the

Clients. The main purpose of life insured is for risk coverage and

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savings. As the products of Birla Sun Life Insurance are good and it

found that there is wide market in Mysore for Birla Sun Life

Insurance.

APPENDIX

QUESTIONNAIRE

BIBLIOGRAPHY

Dear Respondent,

I, doing my project in the field of Marketing at Birla Sun Life

Insurance Titled “Customer perception and attitude towards the

products of Birla Sun Life Insurance”, as a partial fulfillment of the

academic course. I would be grateful if you would take time and

answer the following questionnaire. The information so provided will

be used only for academic purpose.

Thanking you

QUESSTIONNAIRE

PART A

1. Name: …………………………………….

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2. Age: 20-30 30-40 40-50 50-60

3. Sex: Male Female

4. Occupation: Employer Self employed Employee

5. Marital Status: Single Married

6. Annual Income: a) <100000 b) 100000-300000

c) 300000-500000 d)>500000

PART B

7. Have you taken any insurance policy?

Yes No

8. In which company you have policy?

LIC

Bajaj Allianz

Birla Sun Life

ING Vysya

ICICI Prudential

Met Life

SBI Life

9. Have you taken any Insurance policy from Birla Sun Life

Insurance?

Yes No

10. If yes, in which plan you have invested?

Flexi lifeline

Flexi Save Plus

Flexi Cash Flow

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Classic life premier

Pension Plan

Prime life

11. Why do you like Birla Sun Life Insurance? Is it because of its

Services Plans

Brand name Returns

12. What is the opinion about Birla Sun Life Insurance Plans?

a) Excellent b) Very good

c) Good d) Poor

13. How do you know Birla Sun Life Insurance?

Friends Relatives

Advisors Others……………………………

14. Are aware of Unit Linked Insurance Plans?

Yes No

15. What is the purpose of taking policies from particular company?

Is it because of

Savings Risk Coverage

More returns

16. If you have not invested so far, are you interested buying policy

from Birla Sun Life Insurance?

Yes No

17. If yes, In which plan?

Flexi lifeline

Flexi cash flow

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Flexi save plus

Classic life premier

Pension plan

18. Would you wish Birla Sun life advisor visiting your place for

policy demonstration?

Yes No

BIBLIOGRAPHY

REFERENCES:

IC 33

Marketing Management – Sharlekar

Marketing Management – Philip Kotlar

WEBSITES

WWW. Google. Com

WWW. Birla sunlife. Com

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WWW. Yahoo. com