Bazaz Allianz Project

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Bajaj Allianz Life Insurance Company Limited is a union between Allianz AG, the world’s leading insurer and Bajaj Auto, one of India’s most respected names. Allianz AG is a leading insurance conglomerate globally and one of the largest asset manager in the world, managing asset worth over a Trillion Euros (over Rs 55,00,000 crores). At Bajaj Allianz, Allianz AG has more than 110 years of financial experience in over 70 countries and Bajaj Auto, trusted for over 55 years in the Indian market.

The study conducted to check out the analysis of investment pattern and where the Bajaj Allianz Life Insurance company stands compare to other life insurance companies at Dharwad.

In Dharwad, it has been found out by research that, 98% of the respondent are invested in one or the other field of investment. And the majority of the investors are invested in banks.

The majority of the respondent make the investment between Rs. 25,000/- to Rs 50,000/- per annum.

The study was concluded based on the responses reveals that, in Dharwad all the respondent are interested to invest in Life Insurance. And the main reasons for their investments are security, Tax Benefits & Good returns.

It has been expressed by the majority of the respondents that their should be a personal visit by any representative from the company to provide sufficient information about the company and its project. And the Bajaj-Allianz Life Insurance Company is mainly lagging behind in the field of service they are giving to the customer, compare to other insurance companies.




Introduction :

Insurance is a legal contract that protects people from the financial costs that result from loss of life, loss of health, lawsuits, or property damage. Insurance provides a means for individuals and societies to cope with some of the risks in everyday life. People purchase contracts of insurance, called policies, from a variety of insurance organizations.

Almost everyone living in modern. Industrialized countries buy insurance. For instance, law in most states require people who own a car to buy insurance before driving it on public roads. Lenders requires anyone who finances the purchase of a home or car with borrowed money to insure that property. Business partners take out life insurance on each other to make sure the business will succeed even if one of the partners dies.


Early Development :

Historians believe insurance first developed in summer and Babylonia (both in what is now Iraq ) beginning in about 3000 bc. The merchants and traders of these societies transferred and pooled their money to protect themselves from losses of cargo thieves and pirates.

In the 18th century bc, Babylonian king Hammurabi developed a code of law, known as the code of Hammurabi, which codified many specific rules governing the practices of early risk sharing activities. For instance, the code dictated that traders had to repay merchants who financed trading voyages unless thieves stole goods in transit, which case debts would be cancelled.

Seagoing merchants from Phoenicia (in and around present day Lebanon) began using a system of insurance known as about 1200 bc. In this system, backers loaned money to merchants to finance voyages. Merchants offered their ships (the hull was known as the ship’s bottom) as collateral for such loans. When a trip succeeded, the merchant would pay the trip’s backer the original loan plus interest, the equivalent of a premium. If a ship went down on its voyage, the trip’s backer would cancel the merchant’s loan. Forms of insurance resembling bottomry had spread to other part of Asia and Mediterranean by 400 BC.

In the last several centuries bc the societies of Greece and Rome developed some of the earliest systems of life insurance. Greek and roman citizens formed benevolent societies;...
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