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
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
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,
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
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.
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.
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.
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
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
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
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:
? 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.
? 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
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
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
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
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
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.
• 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.
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 .
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
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
? 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
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
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
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
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.
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.
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.
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
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
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?
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.
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
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
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
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
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.
ANALYSIS AND INTERPRETATION
1. Age Group
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
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,
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,
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?
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,
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,
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
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
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,
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
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.
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
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
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: …………………………………….
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
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
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
WWW. Yahoo. com