Role of Private Life Insurance Company in India

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SUMMER TRAINING PROJECT REPORT

ON

ROLE OF PRIVATE LIFE INSURANCE COMPANY IN INDIA

SUBMITTED IN THE PARTIAL FULFILLMENT FOR THE

AWARD OF THE DEGREE OF MBA

[pic]

PROJECT GUIDE:

MR. AMIT SAXENA (ASM)
MR. AJMAL (ASM)
MR.AMIT AGARWAL (ASM)

SUBMITTED BY:

SHOAIB MOHAMMED
REGISTRATION NO.:204031080552
3RD SEMESTER (MBA)

VINAYAKA MISSION UNIVERSITY SALEM, TAMIL NADU
(2008- 2010)

DECLARATION

This is to declare that this project report entitled “ROLE OF PRIVATE LIFE INSURANCE COMPANIES IN INDIA” represents my own work except the material gathered from AVIVA LIFE INSURANCE COMPANY and through survey for writing research work.

I am grateful and thankful to my coordinator, my friends and all the employees of AVIVA LIFE INSURANCE COMPANY for the guidance and help to the effort given in preparing this summer training project report.

Shoaib Mohammed MBA

ACKNOWLEDGEMENT

The project work of studying ROLE OF PRIVATE LIFE INSURANCE COMPANIES IN INDIA was successfully completed under the esteemed guidance of Mr. .Amit Saxena (ASM) ,Mr. Ajmal (ASM) and Mr. Amit Agarwal (ASM) of AVIVA LIFE INSURANCE. I want to place my sincere thanks to one and all , which at different occasion have helped me , without all these well wishers this work of mine could not have been accomplished. I would like to express my gratitude towards all the employees of AVIVA LIFE INSURANCE who gave and guided me in various aspects. I would also like to thanks Mr. Sanjeev Goyal for giving me suggestions, motivation and cooperation during my training period. Lastly, I am thankful to my family members for supporting me in my project work.

Shoaib Mohammed MBA

PREFACE

The conceptual knowledge acquired by the management students is the best Manifested in the Projects and training they undergo. As a part of course curriculum of MBA, I have got the chance to undergo practical training. The present project gave me a perfect understanding of the role of private life insurance companies in India. This report provides all the information regarding private life insurance companies, their roles, benefits and drawbacks, about IRDA, their rules and regulation, mission, FDI in insurance sector. I also hope that this report will be beneficial for the next batches and for those who need research related to this topic.

TABLE OF CONTENT

1. Introduction of Aviva life insurance private limited6-11

2 .Role of the private life insurance co. in India.15
A. Introduction
B. Name of the companies
C. Registration of the companies
D. Growing percentage
E. Joint venture of companies in India
F. Brief description of companies

3. Foreign direct investment policy in insurance sector81

4 .Insurance Regulatory &Development Authority of India
A. Mission
B. Rules &Regulation

5. Benefits of Private insurance companies in India90

6. Drawback of Private insurance companies in India92

7. Research methodology93
8. Questionnaire 94

9. Data analysis and interpretation98
10. Conclusion112
11. Bibliography 113

AVIVA LIFE INSURANCE COMPANY LIMITED

About Us

Aviva is UK’s largest and the world’s  fifth largest insurance Group . It is one of the leading providers of life and pension products to Europe...
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