presentation- Reliance

AMIT KUMAR 1

APROJECT REPORT

ONISURANCE SECTOR

AT

BY:- AMIT KUMAR

AMIT KUMAR 2

COMPANY PROFILE OF RELIANCE LIFE INSURANCE

Few men in history have made as dramatic a contribution to their country’s economic fortunes as did the founder of Reliance, Shri. Dhirubhai Ambani. Fewer still have left behind a legacy that is more enduring and timeless.

Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group.

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Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth.

Reliance Capital has interests in asset management and mutual funds, stock broking, life insurance and general insurance, proprietary investments, private equity and other activities in financial services.

COMPANY PROFILE OF RELIANCE LIFE INSURANCE

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CORPORATE MISSION

“To set the standard in helping our customers manage their financial future”.

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Products (Individual Plans)

Savings (Endowment)Reliance Endowment PlanReliance Special Endowment PlanReliance Cash Flow Plan Reliance Child PlanReliance Whole Life Plan

PensionsReliance Golden Years Plan

RELIANCE LIFE INSURANCE PLANS

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InvestmentsReliance Market Return PlanRisk / ProtectionReliance Term Plan

Products (Group / Corporate Plans)Risk (Protection)Reliance Group Term Assurance Policy

RELIANCE LIFE INSURANCE PLANS

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Reliance EDLI Scheme Pensions

Reliance Group Gratuity PolicyReliance Group Superannuation PolicyReliance Money Guarantee Plan

RELIANCE LIFE INSURANCE PLANS

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MAJOR PLAYERS IN THE INSURANCE INDUSTRY IN INDIA

Life Insurance Corporation of India (LIC)

HDFC Standard Life Insurance Company Ltd.

Max New York Life Insurance Co. Ltd.

ICICI Prudential Life Insurance Company Ltd.

Om Kotak Mahindra Life Insurance Co. Ltd.

Birla Sun Life Insurance Company Ltd.

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DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS

55%

20%

25%Cover FutureUncertainty

Tax Deductions

Future Investment

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DATA PROVIDES NUMBER OF INSURANCE POLICY TYPE RESPONDENTS

52%

17%

31%

NATURE OF POLICY

LIFE POLICY

NON LIFE POLICYBOTH

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DATA SHOWS PEOPLES HAVING INSURANCE

70%

30%

Yes

No

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DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TO SERVICE AGENT

55.00%45.00%

Satisfied Not satisfied

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DATA SHOWS RESPONDENT’S INVESTMENTS FOR TAX SAVING

29%

19%18%

14%

12%

6%

LI NSC BOND PPF PF EPF

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DATA SHOWS RESPONDENTS PERCEPTION ABOUT BEST FORM OF INVESTMENT FOR SECURING THEIR FUTURE

32%

5%

11%17%

4%

30%

Fixed Assets

Bank deposits

Cash & Jewellery

Securities i.e. bonds, MFs

Shares

Insurance

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CONCLUSION

As people think that insurance is a tool to protect their family and a tax saving device. They are aware of the fact and realizing its importance. The company should try to expand and build its infrastructure because there is a large potential of insurance in India.

Reliance Life Insurance is a leading company when it comes to insurance and it will easy for them to penetrate into the market and secure a vunerable position if they pay greater attention to the services provided to their customer and thereby forming a long and trusted relationship.

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As reflected in the survey that at present 70% of the customers are having insurance policies, out of which 87.5% of them are planning for new investments. So, it can be a good potential for the company and an attempt is to be made to trap these customers.

Also, 43% of the customers are even ready to go for insurance if a service providers approach them at there home at a convinent time. So, the company should try and adhere to this policy.

CONCLUSION

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QUESTIONNAIRE

1. Are you employed? Yes No

2. Do you have any insurance policy? Yes No

3. Which insurance policy do you have? Life Non-Life Both

4. Which insurance company policy you prefer most? LIC ICICI Prudential SBI Insurance Reliance Life Insurance Tata AIG Life Any Others_________________(Specify)

5. For how many years do you have insurance policy? <5 5-10 10-15 Any Others

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6. What do you think are the benefits of insurance cover? Cover Future Uncertainty Tax Deduction Future Investment Future Investment Any Other____________________(Specify)

7. Which features of your policy attracted you to buy? Low Premium High Risk Coverage Money Back Guarantee Reputation of Company

Easy Access to Agent Any Other____________(Specify)8. Your monthly income? <5k 6k-10k 11k-15kOther_______

9. Do you really think insurance policy cover in today’s scenario? _____________________________________________________

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10. What is your perception about insurance? A Saving Tool A Tax Saving Device A Tool To Protect the Future

11. How has/Would you bought/Buy an insurance? Customer Approach Insurance Company Insurance Company approach Customer

12. Are you satisfied with your policy? Satisfied Saving Tool Not Satisfied Not Responding

13. Are you satisfied with the service agent? Satisfied Saving Tool Not Satisfied Not Responding

14. Do you pay taxes? Yes No

15. Where have you invested for tax saving? Fixed Assets Bank DepositsJewelries Shares Insurance Others_______

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16.Which is the best form of investment? LIC Bonds NSC PPF

17.What do you intend to gain from investment? Saving & Returns Securities Tax Benefits

18.What’s the right age to buy insurance? After 18 After 25 After 30

Others______

19. Are you planning for new investment? Planning Not Planning

20.What would you look for in an insurance companies? A Trusted Name Friendly Service & Responsiveness Good Plans Accessibility

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THANK YOU