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PROJECT ON:
INSURANCE
MOVING TORURAL AREA
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TEAM MEMBERSRUPAL PATEL
KETAN PATIL
MAYUR PATIL
PRATIK PATIL
RUCHITA PATIL
SNEHA PATIL
102
103
104
105
106
107
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WHAT IS INSURANCE ?
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Types of Insurance:1. Life Insurance
2. General Insurance
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INDIAN INSURANCEINDUSTRY
Sr. No Type of Insurance
PublicSector
PrivateSector
Total
1 Life
Insurance
1 23 24
2 GeneralInsurance
6 9 15
Total 7 32 39
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What is Rural?Government agencies like IRDA(Insurance
Regulatory And Development Agency and
NCAER (National Council for applied EconomicResearch)
define Rural as villages with a population
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What is Rural Marketing?
Developing of
the market inthe area asdefined as Rural
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Encouraging
Indicators/Initiatives forRural Market GrowthScientific methodsExport on the rise
Initiatives taken by banks
Reputed Companies helping in changinglifestyles Levers Britania, Dabur, LG, Honda,Videocon
Government Policies
Employment Schemes
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WHY INSURANCE
COMPANIES ARE TAPPINGRURAL MARKET?
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Huge
populatio
n
742million
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Affordability
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LiteracyRatehasincreasedfrom20%to
28%.
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EnlargedMedia
Reach(Particularl
yTV)
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viewsofres
earchagencieslikeMckinsey
,NCAER.
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Massive
Market
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Difference between:
Standard of livingRuralUrban
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Income
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Education
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Livelihoods
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Spendings
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LICs Media Mixo Posters, Leaflets, Brochures.
o Advertisements on All India Radio.
o Advertisements in regional languages.o Hoardings & Banners in regional languages.
o Road shows & Paintings
o Participation in local fairs & melas
o LICMobile
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Benefits of Tata AIG Rural
Insurance
Standardization of services up tothe last mile
Proper risk management & betterportfolio managementIndependent claims processing team
Hi-tech risk management expertiseQuick product development
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Promotion
Brochures of Micro Insurance
Encouraging women as micro insurance
agents
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Conclusion
Rural India is a target market for manyplayers in the financial sector, and insurancecompanies are no exception. At the moment,
India is one of the best markets to be in.
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