Project at birla sun life

Renny M P Reg. No: 09MSB05005 MSB - Hydeabad

PROJECT GUIDE

Prof. BIJI. P. THOMAS

Academic Head

Magnus school of Business

Kochi.

COMPANY GUIDE

Ms. SUBHALAKSHMI P R

Agency Manager

Birla Sun Life Insurance Co. Ltd.

Thrissur.

INVESTOR PREFERENCES FOR BIRLA SUN LIFE PRODUCTS

OBJECTIVES:

1. To study Investor preferences for different investment options and their reasons.

2. To study Investors’ choice among the plans of Birla Sun Life Insurance Company Ltd.

3. To identify the potential customers and sell the products.

INTRODUCTIONINTRODUCTION

LIFE INSURANCE INDUSTRY1. Protection of economic value of assets2. Reduce the effects of adverse situations3. Insurance business

• Life • Non-life or general

4. Three steps in business of insurance:a) Group (sharing risk)b) Collect the share or contribution (premium) c) Pay out compensations (claims)

5. Fields of application• Family • Special needs• Wealth appreciation• Old age• Children

ABOUT BIRLA SUN LIFE

• Established in 2000.

• Aditya Birla Group + Sun Life Financial Inc.

• Ranks amongst the top 5 private Companies.

• Extensive reach: 600 branches, 1,75,000 advisors, more than 2 million investors, in1500 towns and cities in India, capital base of Rs. 2000 crores.

• Values:  • Speed• Seamlessness• Passion• Commitment• Integrity

 RESEARCH METHODOLOGY

Scientific Endeavor • Approach and analyze responses for desired result • Discovering new facts • Verifying and testing existing facts• Analysis of sequences, interrelationships and causal explanations

Data Type• Primary • Secondary data

Source of Data Primary → Employees, businessmen, agriculturalists, etc. Secondary→ Company brochures

•IRDA books and magazines •Internet

Tools for Data Collection • Questionnaire and Interview

Population •Potential investors in Thrissur District

Sampling design•Non probability sampling

Sampling period • One month (4th January — 4th February, 2010)

Sample size • 120 respondents

DATA ANALYSIS AND

INTERPRETATION

Age (years) Up to 25 25 - 35 35 - 55 55 and above Total

Number 18 42 48 12 120

Percentage 15% 35% 40% 10% 100

15%

35%40%

10%

AGE GROUP OF THE RESPONDENTS

Up to 25

25 - 35

35 - 55

55 and above

Age Group of the Respondents

Nature of Family Nuclear Family Joint Family

Number 98 22

0

20

40

60

80

100

120

Families

98

22

Joint Family

Nuclear Family

Nu

mb

er o

f R

esp

onde

nts

FAMILY TYPE OF RESPONDENTS

Nature of Family

Annual Income Up to Rs. 1.2 lacs Rs. 1.2–Rs.1.8 lacs Rs. 1.8–Rs. 2.4

lacs Rs. 2.4 lacs and

above

Number 21 49 37 13

0

10

20

30

40

50

Up to Rs. 1.2 lacs

Rs. 1.2–Rs.1.8 lacs

Rs. 1.8–Rs. 2.4 lacs

Rs. 2.4 lacs and above

21

49

37

13

Num

ber o

f Res

pond

ents

Annual Income

Views Inevitable Needed Somewhat needed Not at all Total

Number 56 31 23 10 120

Percentage 47% 26% 20% 7% 100%

47%

26%

20%

7%

ROLE OF INVESTMENT FOR SUCCESSFUL LIFE

Inevitable

Needed

Somewhat needed

Not at all

The Role of Investment for Successful Life

Response Familiar Not Familiar Total

Number 108 12 120

Percentage 90% 10% 100%

YES90%

NO10%

FAMILIARITY WITH INSURANCE PRODUCTS

Familiarity with Insurance Products

Preferences for Investment OptionsPreferences Bank FD Real Estate Insurance Gold Chit Fund

Mean Value (Max- 5) 4.25 3.86 3.65 3.12 2.23

Bank FD Real Estate

Insurance Gold Chit Fund

4.25

3.863.65

3.122.23

Investor preference for DifferentInvestment Options

Bank FD

Real Estate

Insurance

Gold

Chit Fund

1

2

3

4

5

Reason for Investment OptionsReason for Investment Mean value ( Max- 5 )

Security 4.13

Risk Cover 3.63

High Returns 3.92

Tax Relief 3.30

Easy Liquidity 3.70

0

1

2

3

4

5

Security Risk Cover High Returns Tax Relief Easy Liquidity

4.13

3.63

3.92

3.33.7

Reasons for Investment

Mea

n V

alu

e

Having any Insurance Policy at present

Status YES NO Total

Number 76 44 120

Percentage 63.33% 36.67% 100

63. 67%

36.67%

Insurance Policy Holders

YES

NO

Insurance Policy Holders

Rating Birla Sun Life Insurance PlansPlans Mean value ( Max – 5 )

Saral Endowment Plan 2.98

Child Dream Plan 3.73

Dream Retirement Plan 3.01

Saral Health 3.81

Titanium Plus 2.75

00.5

11.5

22.5

33.5

4

Saral Endowment

Child Dream Dream Retirement

Saral Health Titanium Plus

2.98

3.73

3.01

3.81

2.75

Rating Birla Sun Life Products

Me

an

Va

lue

Level Excellent Very Good Good Satisfactory Total

Number 34 48 26 12 120

Percentage 28.33% 40% 21.67% 10% 100%

28. 33%

40%

21. 67%

10%

Performance Level

Excellent

Very Good

Good

Satisfactory

Performance Level of the Company

FINDINGS• Most of the respondents prefer to invest FD in bank as first priority and then in Real Estate. Insurance is the next preference.

• Respondents give first priority to security for their investment. Second reason for Investment option is high returns. Therefore, Insurance is well appreciated.

• Saral Health plan and Dream Child plan of Birla Sun Life are mostly preferred by investors

• There are four potential investors identified during this Organizational project.

• Birla Sun Life provides good services and performs at its best – it has got an excellent rating by the respondents.

SUGGESTIONS

• The Company to concentrate more on advertising on Internet and other media.

• Birla Sun Life should preferably have an integrated plan to cover entire family members together.

• More emphasis on training.

LEARNINGS • Learned about Insurance Industry and its relevance

• Could understand Birla Sun Life Insurance Company, their very attractive and specific plans and the functions

• Interacted with 120 potential investors and acquired good exposure in Sales

CONTRIBUTION

• Four sales were realized during this project:

3) Plan : BSLI Saral Health Policy Term : 10 pay/20 term Total Sum Assured : 10 Lacs Annual Premium: Rs. 16168/-

2) Plan : BSLI Dream Child Policy Term : 10 Years Basic Sum Assured : 10 Lacs Enhanced Sum Assured : 5 Lacs Annual Premium: Rs. 16328/-

1) Plan : BSLI Dream Child Policy Term : 14 Years Basic Sum Assured : 5 Lacs Enhanced Sum : 5 Lacs Quarterly Premium: Rs. 3786/-

4) Plan : BSLI Saral Health Policy Term : 10 pay/20 term Total Sum Assured : 10 Lacs Half year Premium: Rs. 10960/-

• Logged in the above 4 policies worth Rs. 756176/- and collected its first premiums for the Company.

ACHIEVEMENT :

I could earn Rs. 9750/- as incentive for the first premiums worth Rs.47242/-

CONCLUSION

• Got first hand information on investor specific plans of BSLI

• Insight into the various aspects of investor preferences

THANK YOUTHANK YOU