Insurance Industry

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Summer Internship Project Report

Souvik Guha

Location : Mumbai

ISB&M,Kolkata(PGPBM 2011-13)

April 23rd 2012 to September 23rd 2012

Topic: Research on Sales & Position of Insurance Products in India

Institute Guide:

This is to certify that the Project Work titled “Research on sales & position of Insurance Products in India” is a bonafide work of Souvik Guha (Roll No: P/MN/R/11/001) carried out in partial fulfillment for the award of PGPBM Trimester 4 of ISB&M, Kolkata under my guidance. This project work is original and not submitted earlier for the award of any degree / diploma or associate of any other Institution.

Place: Mumbai

Date: 31/08/2012

Signature of the Guide:

Company Guide:

This is to certify that the Project Work titled “Research on sales & position of Insurance Products in India” is a bonafide work of Souvik Guha of ISB&M, Kolkata under my guidance.

Place: Mumbai

Date: 31/08/2012

Signature of the Guide:

DECLARATION BY THE STUDENT

I, Souvik Guha, hereby declare that the Project Work titled “Research on sales & position of Insurance Products in India” is the original work done by me and submitted to ISB&M, Kolkata in partial fulfillment of requirements for the award of Post Graduate Diploma in Business Management in Marketing & Finance is a record of original work done by me under the supervisions of Prof Debarghya Bagchi, International school of Business & Media and Mr Anirudh Jain, Head of Distribution, Destimoney Securities Pvt Ltd.

Roll No: P/MN/R/11/001.

Date:

Signature of the Student:

ACKNOWLEDGEMENT

I would like to acknowledge my indebtedness to various personalities, but for whom, this project could not have seen the light of the day. I wish to express my heartfelt gratitude to Mr. Sreekumar Sreedhar, Assistant Vice President, Product & Business Development who has guided me throughout the project and has been an immense source of inspiration. I am also grateful, for his support and guidance throughout this project with valuable information and giving me a better insight of the things, without which the successful culmination of this project would not have been possible. Not only did he inspire me throughout the progress of the project, but, also motivated me to get an insight into the field of my work.

I would also like to thank Mr. Anirudh Jain, Head of Distribution, Destimoney Securities Private Limited for his guidance during the summer internship. I am also grateful to the whole Distribution Team of Destimoney Securities Private Limited comprising of Mrs Sanjana Nayak, Mr Rahul Choksi and Mr Manoj Patel, among others.

I would also like to thank Mr Sambit Kumar Ghosh, Vice President HR, Destimoney Securities Private Limited for giving me the opportunity to do my Summer Internship Programme in Destimoney Securities Private Limited.

I would also like to extent my immense gratitude to Prof .Debarghya Bagchi, Academic Chairperson and respected Prof. Surrendra Poddar Campus In-Charge,International school of Business & Media, Kolkata who allowed me to choose the topic for my internship and guide me during the course of my internship.

CONTENTS

Introduction .. 6

About the Company .. 7

Abstract .. 8
Life Insurance .. 8
General Insurance .. 9

4. Products I dealt With .. 11

5. Indian Insurance Market .. 15

6. Challenges .. 16

7. Statistics .. 16
General Insurance(Health) .. 16
Life Insurance .. 20

8. Scope .. 27

9. Conclusion .. 28

Introduction:

This report is about my internship in Destimoney Securities Private Limited for a period of 5months i.e. from April 23rd 2012 to September 23rd 2012.

Destimoney Securities Private Limited is one of the...
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