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I hereby declare that the project entitled “LIFE INSURANCE at ING Vysya”which is submitted in partial fulfillment of the requirement for the award of the degree of MBA of Rani Durgavati Vishwavidyalaya,Jabalpur(M.P.) is an authentic record and all the information published by me are true to my knowledge and information and facts furnished by me rrrrreeeeeeee on my own findings as per the information collected through secondary research.
The matter in this project is neither being used elsewhere nor has been submitted earlier for the award of degree of MASTER OF BUSINESS ADMINISTRATION.
Review of literature
In India, Life Insurance sector plays a major role in savings of a person. There are many players in life insurance sector and LIC is the leading as it has roots in India from more than 50 years. To purchase any thing in this world a customer has his/her own choice of preferences. The project study of ING Vysya unit linked as a part of financial planning.
The aim of study is to examining a client’s personal situation, financial resources, financial objectives and financial problems in a comprehensive manner, monitoring the plan performance to take corrective action as necessary to assure that results match the plan projections. So this study is also intended to find whether people are aware of ING Vysya Life Insurance.
The method of study is market research with structured questionnaire consisting of multiple choice questions. The sample is 100 collected from persons having Life Insurance Policy.
The Private Insurance companies are also able to create brand value and trust in customers. So they have only 42% (approx.) market share in Life insurance sector.
• Examining a client’s personal situation, financial resources, financial objectives and financial problems in a comprehensive manner. • Developing an impartial, integrated plan to utilize the resources to meet objectives and solve problems, taking the steps to implement that plan once approved by the client. • Monitoring the plan performance to take corrective action as necessary to assure that results match the plan projections. • To find out how best an Unit Linked Plan can become a necessary part of the financial planning for the individuals. • To check that among the price of the premium, benefits of policy, brand name the company has, which is more preferred by a person to take insurance policy.
REVIEW OF LITERATURE
Marketing research is defined as the “Systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. According to ESOMAR the world association of opinion and market research professionals. A company can hire the services of a marketing research firm or conduct research in creative and affordable ways such as:
• Engaging professors or students to design and conduct studies. Many large companies hire summer trainees from management institutions for cost effective market research year after year. Awarding live projects to MBA students as part of their course work is also a common practice.
• Monitoring published information and actions systematically. This may be done by examining news papers, web sites, and industry reports and by visiting competitive outlets.
Effective marketing research involves five steps. They are:
• Step 1: define the problem and the research objectives • Step 2: collect the information
• Step 3: analyze...