Strategy
THESIS
ON
MARKETING STRATEGY
OF
[pic]
IFFCO-TOKIO GENERAL INSURANCE CO. LTD
UNDER THE GUIDANCE OF:
MR. RAJESH KANNAN
Asst. Vice President
Iffco-Tokio General Insurance Co. ltd.
SUBMITTED BY:
ABHISHEK DWIVEDI
BATCH: PGP/FW, 2005-2007
TABLE OF CONTENTS ➢ INTRODUCTION ➢ OBJECTIVES ➢ RESEARCH METHODOLOGY ➢ LITERATURE REVIEW ➢ DATA ANALYSIS ➢ RECCOMENDATIONS ➢ CONCLUSION ➢ REFERENCES ➢ APPENDICES ➢ QUESTIONAIRE
INTRODUCTION
PREVAILING STATE OF INDIAN ECONOMY
A text can be well understood only within a context. Similarly, one sector of the economy, be it insurance sector or any other, can be understood only within the context of the prevailing economic conditions of a State.
The World Bank, in its World Development Report 2005, placed India as the fourth largest economy in terms of purchasing power parity. India has become the fourth largest economy in the world after the US, China and Japan, in that order. As a result of liberalization of the economy, private investment, as share of GDP, has grown from less than 9.0 per cent in 1981 to more than 15 per cent in 2000. Growth increased from an average of 2.9 per cent a year in the 1970s to 5.8 per cent in the 1980s and 6.7 per cent in mid 1990s. The main driver of Indian economy 's strong performance during 2003-04 was the resurgence of agricultural production with the simultaneous and well distributed firming up of activity in industry and services. Exports contributed significantly to higher growth in a wide range of manufacturing industries, such as machinery, transport equipment, automobiles, iron and steel, chemicals and chemical products, attesting to the rising international competitiveness of Indian industry. A robust expansion of activity in trade, hotels, transport and communication paved the way for strong growth of the services sector, well above the average for the period 1993-2003. Significant gains were posted in the external sector, indicative of a growing
ON
MARKETING STRATEGY
OF
[pic]
IFFCO-TOKIO GENERAL INSURANCE CO. LTD
UNDER THE GUIDANCE OF:
MR. RAJESH KANNAN
Asst. Vice President
Iffco-Tokio General Insurance Co. ltd.
SUBMITTED BY:
ABHISHEK DWIVEDI
BATCH: PGP/FW, 2005-2007
TABLE OF CONTENTS ➢ INTRODUCTION ➢ OBJECTIVES ➢ RESEARCH METHODOLOGY ➢ LITERATURE REVIEW ➢ DATA ANALYSIS ➢ RECCOMENDATIONS ➢ CONCLUSION ➢ REFERENCES ➢ APPENDICES ➢ QUESTIONAIRE
INTRODUCTION
PREVAILING STATE OF INDIAN ECONOMY
A text can be well understood only within a context. Similarly, one sector of the economy, be it insurance sector or any other, can be understood only within the context of the prevailing economic conditions of a State.
The World Bank, in its World Development Report 2005, placed India as the fourth largest economy in terms of purchasing power parity. India has become the fourth largest economy in the world after the US, China and Japan, in that order. As a result of liberalization of the economy, private investment, as share of GDP, has grown from less than 9.0 per cent in 1981 to more than 15 per cent in 2000. Growth increased from an average of 2.9 per cent a year in the 1970s to 5.8 per cent in the 1980s and 6.7 per cent in mid 1990s. The main driver of Indian economy 's strong performance during 2003-04 was the resurgence of agricultural production with the simultaneous and well distributed firming up of activity in industry and services. Exports contributed significantly to higher growth in a wide range of manufacturing industries, such as machinery, transport equipment, automobiles, iron and steel, chemicals and chemical products, attesting to the rising international competitiveness of Indian industry. A robust expansion of activity in trade, hotels, transport and communication paved the way for strong growth of the services sector, well above the average for the period 1993-2003. Significant gains were posted in the external sector, indicative of a growing
References: 2. Business Today. “The Monitory Group Study on Insurance I and II.” March 22 and April 7, 2000. 3. Dasgupta, Samik. “RSA, Iffco-Tokio yet to appoint actuaries,” Economic Times, January 23, 2001. 4. Kumari, Vaswati, “India Insurers Seek Perfect Partners.” National Underwriters, March 5, 2001, 38-39. 5. Mitra, Sumit and Nayak, Shilpa. “Coming to Life.” India Today, May 7, 2001. 6. Patel, Freny. “Centre wants GIC to merge unviable outfits before recast.” Business Standard, April 13, 2001. 7. Roy, Abhijit. “Pension fund business in India.” The Hindu, July 16, 1997, p. 25. 10. Sinha, Tapen. Pension Reform in Latin America and Its Implications for International Policymakers. Boston, USA, Huebner Series Volume No. 23, Kluwer Academic Publishers, 2000.