Analyse the Customer’s Need & Preference

Topics: Insurance, Life insurance, Term life insurance Pages: 26 (3891 words) Published: June 24, 2013
A
FINAL REPORT
ON

Analyse the Customer’s Need & Preference

Submitted By:-

SUNIL KUMAR

A
FINAL REPORT
ON

Analyse the Customer’s Need & Preference

Submitted By:-

Sunil kumar

Reliance life

insurance

company ltd.

TABLE OF CONTENTS

Page no. Acknowledgement…………………………………………… 6

Summary ……………………………………………………………

1. Industry Profile………………………………………… 7-21 2. Company Profile……………………………………… 22-32

3. Project description…………………………………… 33-56

Objectives of the projects/problem definition.

Research Methodology:

➢ Time duration
➢ Questionnaires design - open/close ended questions ➢ Appendix of Questionnaire
➢ Data collection
➢ Data analysis
➢ Limitations
➢ Findings
➢ Conclusion
➢ Suggestions
➢ Bibliography

Acknowledgement

The satisfaction that accompanies the successful completion of any task would be incomplete without mention of the people who made it possible, whose constant guidance and encouragement crowns all the efforts with success.

I am also thankfull to
Akanksha Miglani, Training Manager, to giving information how they adopt the promotion strategies to making sell the policy in RLIC.

I extend my sincere thanks to all other faculty members, for supporting and clearing our doubts on time.

INDUSTRY PROFILE

Introduction
The business of insurance sector is related to the protection of the economics values of assets. Every assets has a value. The asset would have been created through the efforts of owner, because he axpects to get some benefit from it. The benefit may be an income and something else. It is a benefit because it meets his needs.

EXAMPLE
▪ In the case of a factory and a cow, the product generated by is sold and income generated. ▪ In case of motor car it provides comfort and convenience in transportation. There is no direct income.

An accident or some other unfortune event may destroy it or make it non functional. In that case, the owner and those deriving benefits there from would be deprived . insurance is a mechanism that helps to reduce the effect of such adverse situation.

HISTORY OF INSURANCE

Insurance industry include two sectors
▪ Life insurance
▪ General insurance

Life insurance in India:- it was introduce by Britishers. A British firm in 1818 established Oriental Life Insurance Company at Culcutta. In 1823, Bombay Life Insurance Company was established at Mumbai and in 1829 Madras Equitable life Insurance society was established at Madras (Chennai).

In 1871, Bombay Life Assurance Society was established which started Life insurance of Indians on general premium rate for the first time.

• The business of insurance started with marine business.

• The first insurance policy was issued in 1583 in England.

• In India insurance began in 1870 with life insurance being transacted by an English company.

• The first Indian Insurance Company was the Bombay Mutual Assurance Society Ltd., forned in 1870.

• This was followed by the oriental life assurance co. in 1874, the Bharat in 1896 and the empire of India in 1897.

• In 1956 the life insurance business was...
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