Serial Number Particulars Page Number: 1. Industry and Company Profile 7-19

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CONTENTS
SERIAL NUMBER PARTICULARS PAGE NUMBER
1. INDUSTRY AND COMPANY PROFILE 7-19
2. WEEKLY REPORTS COMPILED 21-23
3. SOURCES OF DATA 25-34
4. ANALYSIS OF DATA 36-51
5. CONCLUSION AND BIBLIOGRAPHY 56-59
[Type the company name] 1

CHAPTER 1
INDUSTRY AND
COMPANY PROFILE

INTRODUCTION OF INDIAN INSURANCE INDUSTRY
Insurance is a federal subject in India. The insurance sector has gone through a number of
phases and changes. Since 1999, when the government opened up the insurance sector by
allowing private companies to solicit insurance and also allowing FDI up to 26%, the
insurance sector has been a booming market. However, the largest life-insurance company in
India is still owned by the government.
Insurance in India has its history dating back until 1818, when Oriental Life Insurance
Company was started by Anita Bhavsar in Kolkata to cater to the needs of European
community. The pre-independence era in India saw discrimination between the lives of
foreigners (English) and Indians with higher premiums being charged for the latter. In 1870,
Bombay Mutual Life Assurance Society became the first Indian insurer.
At the dawn of the twentieth century, many insurance companies were founded. In the year
1912, the Life Insurance Companies Act and the Provident Fund Act were passed to regulate
the insurance business. The Life Insurance Companies Act, 1912 made it necessary that the
premium-rate tables and periodical valuations of companies should be certified by anactuary.
However, the disparity still existed as discrimination between Indian and foreign companies.
The oldest existing insurance company in India is the National Insurance Company Ltd.,
which was founded in 1906. It is in business. Before that, the industry consisted of only two
state insurers: Life Insurers (Life Insurance Corporation of India, LIC) and General Insurers
(General Insurance Corporation of India, GIC). GIC had four subsidiary companies.
With effect from December 2000, these subsidiaries have been de-linked from the parent
company and were set up as independent insurance companies: Oriental Insurance Company
Limited, New India Assurance Company Limited, National Insurance Company
Limited and United India Insurance Company Limited.

India insurance is a flourishing industry, with several national and international players
competing and growing at rapid rates. Thanks to reforms and the easing of policy regulations,
the Indian insurance sector been allowed to flourish, and as Indians become more familiar
with differentinsurance products, this growth can only increase, with the period from 2010 -
2015 projected to be the 'Golden Age' for the Indian insurance industy.
Indian insurance companies offer a comprehensive range of insurance plans, a range that is

growing as the economy matures and the wealth of the middle classes increases. The most
common types include: term life policies, endowment policies, joint life policies, whole life
policies, loan cover term assurance policies, unit-linked insurance plans, group insurance
policies,pension plans, and annuities. General insurance plans are also available to cover
motor insurance, home insurance, travel insurance and health insurance.
Due to the growing demand for insurance, more and moreinsurance companies are now
emerging in the Indian insurance sector. With the opening up of the economy, several
international leaders in the insurance sector are trying to venture into the India insurance
industry.
The history of the Indian insurance sector dates back to 1818, when the
OrientalLife Insurance Company was formed in Kolkata. A new era began in the India
insurance sector, with the passing of the Life Insurance Act of 1912.The Indian Insurance
Companies Act was passed in 1928. This act empowered the government of India to gather
necessary information about the life insurance and non-life insurance organizations operating
in the Indian financial markets.The Triton Insurance Company Ltd formed in 1850 and was
the first of its kind in the general insurance sector in India. Established in 1907, Indian
Mercantile Insurance Limited was the first company to handle all forms of India insurance.
The formation of the Malhotra Committee in 1993 initiated reforms in the Indian insurance
sector. The aim of the Malhotra Committee was to assess the functionality of the Indian
insurance sector. This committee was also in charge of recommending the future path of
insurance in India.The Malhotra Committee attempted to improve various aspects of the
insurance sector, making them more appropriate and effective for the Indian market.The
recommendations of the committee put stress on offering operational autonomy to the
insurance service providers and also suggested forming an independent regulatory body.

The Insurance Regulatory and Development Authority Act of 1999 brought about several
crucial policy changes in the insurancesector of India. It led to the formation of the Insurance
Regulatory and Development Authority (IRDA) in 2000. The goals of the IRDA are to
safeguard the interests of insurancepolicyholders, as well as to initiate different policy
measures to help sustain growth in the Indian insurance sector.The Authority has notified 27
Regulations on various issues which include Registration of insurers, Regulation on insurance
agents, Solvency Margin, Re-insurance, Obligation of Insurers to Rural and Social sector,
Investment and Accounting Procedure, Protection of policy holders' interest etc. Applications
were invited by the Authority with effect from 15th August, 2000 for issue of the Certificate
of Registration to both life and non-life insurers. The Authority has its Head Quarter at
Hyderabad. Detailed information on IRDA is available at their web-site www.irdaindia.org
IRDA has the responsibility of protecting the interest of insurance policyholders. Towards
achieving this objective, the Authority has taken the following steps:
 IRDA has notified Protection of Policyholders Interest Regulations 2001 to provide

for: policy proposal documents in easily understandable language; claims procedure in both
life and non-life; setting up of grievance redressal machinery; speedy settlement of claims;
and policyholders' servicing. The Regulation also provides for payment of interest by
insurers for the delay in settlement of claim.
 The insurers are required to maintain solvency margins so that they are in a position
to meet their obligations towards policyholders with regard to payment of claims.
 It is obligatory on the part of the insurance companies to disclose clearly the benefits,
terms and conditions under the policy. The advertisements issued by the insurers should not
mislead the insuring public.
 All insurers are required to set up proper grievance redress machinery in their head
office and at their other offices.
 The Authority takes up with the insurers any complaint received from the
policyholders in connection with services provided by them under the insurance contract.

LIST OF INSURANCE COMPANIES IN INDIA
LIFE INSURERS
Life Insurance Corporation of India
Allianz Bajaj Life Insurance Company Limited
Birla Sun-Life Insurance Company Limited
HDFC Standard Life Insurance Co. Limited
ICICI Prudential Life Insurance Co. Limited
ING Vysya Life Insurance Company Limited
Max New York Life Insurance Co. Limited
MetLife Insurance Company Limited
Om Kotak Mahindra Life Insurance Co. Ltd.
SBI Life Insurance Company Limited
TATA AIG Life Insurance Company Limited
AMP Sanmar Assurance Company Limited
Dabur CGU Life Insurance Co. Pvt. Limited
National Insurance Company Limited
New India Assurance Company Limited
Oriental Insurance Company Limited
United India Insurance Company Limited
Bajaj Allianz General Insurance Co. Limited
ICICI Lombard General Insurance Co. Ltd.
IFFCO-Tokio General Insurance Co. Ltd.
Reliance General Insurance Co. Limited
Royal Sundaram Alliance Insurance Co. Ltd.
TATA AIG General Insurance Co. Limited
Cholamandalam General Insurance Co. Ltd.
Export Credit Guarantee Corporation
HDFC Chubb General Insurance Co. Ltd.
General Insurance Corporation of India

TREND OF INSURANCE INDUSTRY IN INDIA
The Insurance industry in India has been progressing at a rapid pace since opening up of the
industry in 2000. Indian domestic insurance market would touch around US$ 60.5 Billion by
the year 2010 from existing size of about US$ 10.2 billion. According to the Insurance
Regulatory and Development Authority (IRDA), new business premium income from April
2006 to February 2007 amounted to INR 579.38 billion (US$13.18 billion), registering an
impressive 120% growth over the same period last year.
The Insurance industry graph is definitely ascending. Distribution accounts for the largest
element in insurers cost and affects profitability. The size of the country combined with
problems of connectivity in the rural areas, makes insurance selling in India a difficult
proposition. The distribution capabilities strongly influence product design in insurance. The
distribution channels have a direct impact on the insurer’s market image. Emergence of
alternative channels such as Bancassurance and Internet is reshaping the insurance industry.
India with a population of more than a billion people offers unlimited growth potential.

MARKET SHARE OF VARIOUS COMPANIES
LIC (Life Insurance Corporation of India) still remains the largest life insurance company
accounting for 64% market share. Its share, however, has dropped from 74% a year before,
mainly owing to entry of private players with innovative products and better sales force.
ICICI Prudential Life Insurance Co Ltd is the biggest private life insurance company in India.
It experienced growth of 58% in new business premium, accounting for increase in market
share to 8.93% in 2007-08 from 6.97% in 2006-07.
Bajaj Allianz Life Insurance Co Ltd has reported a growth of 52% and its market share went
up to 6.98% in 2007-08 form 5.66% in 2006-07. The company ranked second (after LIC) in
number of policies sold in 2007-08, with total market share of 7.36%.
SBI Life Insurance Co Ltd in terms of new number of policies sold, the company ranked 6th
in 2007-08. New premium collection for the company was Rs 4,792.66 crore in 2007-08, an
increase of 87% over last year.
Reliance Life Insurance Co Ltd Total collected was Rs 2,792.76 crore and its market share
went up to 2.96% from 1.23% a year back. It now ranks 5th in new business premium and 4th
in number of new policies sold in 2007-08.
HDFC Standard Life Insurance Co Ltd with an income of Rs 2,680 crore in FY2007-08,
registering a year-on-year growth of 64%. Its market share is 2.88% and it ranks 6 th among
the insurance companies and 5th amongst the private players.
Birla Sun Life Insurance Co Ltd market share of the company increased from 1.22% to
2.11% in 2007-08. The company moved to the 7th position in 2007-08 from 8the a year
before, pushing down Max New York Life insurance company.
Max New York Life Insurance Co Ltd has reported growth of 73% in 2007-08. Total new
business generated was Rs 641.83 crore as against Rs 387.51 crore. The company was pushed
down to the 8th position from 7th in 2007-08.

Kotak Mahindra Old Mutual Life Insurance Ltd the fiscal 2007-08, the company reported
growth of 80%, moving from the 11th position to 9th. It captured a market share of 1.19% in
2007-08. Last year the company doubled its branch network to 150 from 74.
Aviva Life Insurance Company India Ltd ranking dropped to 10th in 2007-08 from 9th last
year. It has presence in more than 3,000 locations across India via 221 branches and close to
40 bancassurance partnerships. Aviva Life Insurance plans to increase its capital base by Rs
344 crore. With the fresh investment, total paid-up capital of the insurer would go up to Rs
1,348.8 crore.
The above pie chart depicts the market share of insurance companies pertaining to India. All
the companies are private in nature . This is the reason LIC is not depicted as it is a
government company enjoying a market share of around 73 percent in Indian market.

GLOBAL INSURANCE INDUSTRY STATISTICAL ANALYSIS
Insurance Industry Overview
Global Insurance Industry

Amoun Units Year Source
t
Total Gross Insurance Premiums 4.270 Tril. 200 SwissR
US$ 8 e
Global Premiums as % of Global GDP 6.18 Percent 2008 IMF
Global Life Insurance Premiums 2.490 Tril. US$ 2008 SwissRe
Global Non-Life Insurance Premiums 1.779 Tril. US$ 2008 SwissRe
Total Direct Premium Growth, Worldwide, 2007- -2.0 Percent 2008 SwissRe
2008
Growth in Life Insurance Premiums -3.5 Percent 2008 SwissRe
Growth in Non-Life Insurance Premiums -0.8 Percent 2008 SwissRe
Total Insurance Growth in Emerging Markets, 11.1 Percent 2008 SwissRe
2007-2008
US Insurance Industry
Life Insurance Net Premiums 165 Bil. US$ 2009 PRE
Total Financial Assets of Life Insurance 4,515.5 Bil. US$ 2008 Fed
Companies
Property/Casualty Net Premiums 450 Bil. US$ 2009 PRE
Total Financial Assets of Property/Casualty 1,305.5 Bil. US$ 2008 Fed
Insurers
Specialty Insurance Net Premiums 26 Bil. US$ 2009 PRE
Health Insurance Coverage & the Uninsured
Private Health Insurance Benefits Paid 854.4 Bil. US$ 2009 PRE
People with Health Insurance Coverage 254.6 Million 2008 PRE
People without Health Insurance for the Entire 46.3 Million 2009 Census
Year
As Percent of Total Population 15.4 Percent 2008 Census
Total Number of Medicare Enrollees 44.5 Million 2008 CMS
Total Number of Medicare Advantage Enrollees 9.3 Million 2008 CMS
Total Number of Medicaid Enrollees 59.0 Million 2009 CHCS
Federal Spending on Medicare 452.0 Bil. US$ 2008 USOMB
Federal Spending on Medicaid 201.4 Bil. US$ 2008 USOMB
Employment in the Insurance Industry (As of August; Preliminary Estimates; Not Seasonally
Adjusted)
Total 2,309 Million 2008 BLS
Direct Life & Health Insurance Carriers 804.2 Thousan 2008 BLS
d
Direct Health & Medical Insurance Carriers 449.0 Thousan 2008 BLS
d
Direct Property & Casualty Insurers 489.2 Thousan 2008 BLS
d
Reinsurance Carriers 28.4 Thousan 2008 BLS
d
Insurance Agencies & Brokerages 670.1 Thousan 2008 BLS
d

SWOT ANALYSIS OF INSURANCE INDUSTRY IN INDIA
Innovative
customer loyalty
S Wide network
Strong regulating rules
Wide product depth and range
Highly trusted
Poor access to collection of premiums

lack of knowledge among customers.
W Sales personnel needs more training.

extremely vulnerable to external
activities
IRDA removal of control on pricing

Industry will be freed from product
O
wording and policy wordings
CAGR has increased by 15 percent in
terms of premium collection
Many foreign entrants in Indian market

System malfunction.
T
FUTURE SCOPE OF INSURANCE IN INDIA
The insurance sector has a vast potential not only because incomes are increasing and assets
are expanding but also because the volatility in the system is increasing. In a sense, we are
living in a more risky world. Trade is becoming increasingly global. Technologies are
changing and getting replaced at a faster rate. In this more uncertain world, for which enough
evidence is available in the recent period, insurance will have an important role to play in
reducing the risk burden individuals and businesses have to bear. In the emerging scenario,
the insurance industry must pay attention to (a) product innovation, (b) appropriate pricing,
and (c) speedy settlement of claims. The approach to insurance must be in tune with the
changing times.
The mission of the insurance sector in India should be to extend the insurance coverage over
a larger section of the population and a wider segment of activities. The three guiding
principles of the industry must be to charge premium no higher than what is warranted by
strict actuarial considerations, to invest the funds for obtaining maximum yield for the policy
holders consistent with the safety of capital and to render efficient and prompt service to
policy holders. With imaginative corporate planning and an abiding commitment to
improved service, the mission of widening the spread of insurance can be achieved. As I said
at the beginning, you who are graduating today have an important role in fulfilling this
mission.
With the explosion of Website and greater access to direct product or policy information,
there is a need to developing better techniques to give customers a truly personalized
experience. Personalization helps organizations to reach their customers with more impact
and to generate new revenue through cross selling and up selling activities. To ensure that the
customers are receiving personalized information, many organizations are incorporating
knowledge database-repositories of content that typically include a search engine and lets the
customers locate the all document and information related to their queries of request for
services. Customers can hereby use the knowledge database to mange their products or the
company information and invoices, claim records, and histories of the service inquiry. These

products also may be able to learn from the customer’s previous knowledge database and to
use their information when determining the relevance to the customers search request.
COMPANY PROFILE
BAJAJ ALLIANZ INSURANCE COMPANY
 Bajaj Allianz Life Insurance Company Limited is a joint venture

between Allianz AG, one of the world's largest Life Insurance companies and Bajaj
Auto, one of the biggest 2- &- 3 wheeler manufacturers in the world.
 Allianz AG is an insurance conglomerate globally and one of the largest asset

managers in the world, managing assets worth worldwide with 115 years of financial
experience in over 70 countries.
 Bajaj Auto is one of the most trusted name in Indian auto for over 55 years.
 Owners: Bajaj Auto (India)and Alliaz AG (Germany)
 Head Office: Pune CEO: Mr. Kamesh Goyal
 Bajaj Allianz is one of the fastest growing private Life Insurance Company in India.
 This has more than 1,200 branches across country and deals in primarily unit linked,
traditional, health, child and pension policies.
 Bajaj Allianz is ranked four in Indian market pertaining to market share in India.
 Bajaj Allianz Shareholder Capital Base stands at Rs. 500 crore with Bajaj Auto
Limited and Allianz AG of Germany holding 74% and 26% stake respectively.

BAJAJ AUTO LIMITED
Bajaj Auto Ltd, the flagship company of the Rs. 8000 crore Bajaj group is the largest
manufacturer of two-wheelers and three-wheelers in India and one of the largest in the world.
A household name in India, Bajaj Auto has a strong brand image & brand loyalty
synonymous with quality & customer focus. With over 15,000 employees, the company is a
Rs. 4000 crore auto giant, is the largest 2/3-wheeler manufacturer in India and the 4th largest
in the world. AAA rated by Crisil, Bajaj Auto has been in operation for over 55 years. It has
joined hands with Allianz to provide the Indian consumers with a distinct option in terms of
life insurance products.
As a promoter of Bajaj Allianz Life Insurance Co. Ltd., Bajaj Auto has the following to offer
-
 Financial strength and stability to support the Insurance Business.
 A strong brand-equity.
 A good market reputation as a world class organization.
 An extensive distribution network.
 Adequate experience of running a large organization.
 A 10 million strong base of retail customers using Bajaj products.
 Advanced Information Technology in extensive use.

 Experience in the financial services industry through Bajaj Auto Finance Ltd
ALLIANZ
Founded in 1890 in Berlin, Allianz is now present in over 70 countries with almost 174,000
employees. At the top of the international group is the holding company, Allianz AG, with its
head office in Munich.
Allianz AG is in the business of General (Property & Casualty) Insurance; Life & Health
Insurance and Asset Management and has been in operation for over 110 years. Allianz is one
of the largest global composite insurers with operations in over 70 countries. Further, the
Group provides Risk Management and Loss Prevention Services. Allianz has insured most of
the world's largest infrastructure projects (including Hongkong Airport and Channel Tunnel
between UK and France), further Allianz insures the majority of the fortune 500 companies,
besides being a large industrial insurer, Allianz has a substantial portfolio in the commercial
and personal lines sector, using a wide variety of innovative distribution channels.
ALLIANZ AG- A GLOBAL FINANCIAL POWERHOUSE
 Worldwide 2nd by Gross Written Premiums - Rs.4,46,654 cr.
 3rd largest Assets Under Management (AUM) & largest amongst Insurance cos. -
AUM of Rs.51,96,959 cr.
 12th largest corporation in the world
 49.8 % of global business from Life Insurance
 Established in 1890, 110 yrs of Insurance expertise

WORKING OF THE COMPANY:-

The premiums paid are invested in fund/funds of your choice (depending on the allocation
rate) & units are allocated depending on the price of units for the fund/funds. The value of
your policy is the total value of units that you hold in the fund/funds. The insurance cover
charges are deducted through monthly cancellation of units. The fund Administration Charge
and Fund Management Charge are priced in the unit value.
BENEFITS
DEATH BENEFIT: In case of unfortunate death the beneficiaries are entitled to the Sum
Assured less withdrawals or the bid price of units, whichever is higher? If the age of the life
assured is less than 7 or above 70, then the bid price of the units is paid.
LIQUIDITY OPTION: There is no maturity date for this plan. . Anytime after payment of 3
full years’ premiums, you may withdraw the money, depending on your requirements,
through partial or complete surrender of units.

OPTIONS
a. Choice of investment plan:
Bajaj Allianz offers you a choice of 4 funds. You can choose to invest fully in any one
fund or allocate your premiums into the various funds in a proportion that suits your
investments needs. All the funds will be managed by the asset managers of Bajaj Allianz.
 EQUITY FUND: This fund provides the scope of high appreciation over a
long term. The fund will primarily invest in equities and is expected to match
returns given by NSE NIFTY. This fund will invest at least 90% in equities
and maximum 10% in cash. This Fund Investment is in NSE (National Stock
Exchange) NIFTY i.e. top 50 companies.
 DEBT FUND: This fund provides the scope for steady returns at low risk
through investments in high quality fixed income securities. This fund will be
invested fully in debt instruments. This Fund Investment is in Govt. Bonds for
e.g. IDBI Bonds, Mutual Funds etc.
 BALANCED FUND: The balanced is primarily for those who prefer mix of
steady returns and growth. The balanced fund will invest 30% to 50% in the
equity fund and 50% to 70% in the debt fund. This Fund Investment is in
Govt. and Private Companies.
 CASH FUND: The cash fund will invest conservatively in money market &
short term investments to ensure that return on investments shall never be
negative. 100% of this fund will be invested in money market instruments.
The price of the units in this fund will never to go down. This Fund

Investment is in Call Money Market (operates on the need for cash on hourly
basis).
b. Choice to switch between investment options:
Policyholder can switch units from one fund to another. The amount switched should be
in multiples of 1000, and the minimum switching amount is Rs. 5000 or the fund value
which ever is lower. Three free switches would be allowed every year. Subsequent
switches would be charged @ 1% of the switch amount or Rs. 100 whichever is higher.
c. Choice of a Top-up:
The policyholder will have the option to increase the regular premium amount at any
time. The additional single premium would be treated as a single premium top-up every
year. The policyholder will also have the option to increase the amount invested through
top-ups.
FLEXIBILITIES
a. Increase the death benefit:
The death benefit may be increased without any underwriting every 3rd year upto 4 times.
The increase will be allowed upto 25% of the original sum assured or Rs. 1,00,000.
Whichever is lower, each time? However, the maximum age till which this option will be
allowed is the attained age of 45yrs of the policy holder. Apart from the increase in death
benefit every 3rd year without underwriting, the policyholder may choose to increase the
death benefit subject to the maximum of Comprehensive Accidental Protection,
depending on his/her changing needs. This increase will be subject to underwriting and
the cost of underwriting shall be deducted through cancellation of units. The option to
increase the death benefit with underwriting ceases at age 60.

b. Decrease the death benefit:
Decrease in the death benefit will be allowed any time, subject to the minimum death
benefit being maintained. The death benefit once reduced can be increased subsequently
only subject to underwriting.
c. Premium holiday option:
Customers can opt to pay premiums at their convenience after payment of full 3years
premiums. Thereafter, when premium due are not paid, the policy will stay in force with
full benefits so long as there is enough units available for charging the cost of insurance
and additional benefits after deducting all applicable charges.
d. Flexible Contribution:
The person can increase/decrease the annual contribution. The maximum decrease in the
contributions can be upto 20% of the initial contribution chosen by the person at the time
of inception of the policy. However, in no circumstances can the contribution be reduced
to below the minimum premium allowed under the plan at that time, or 80% of the initial
chosen contribution, whichever is higher. The person has the flexibiltity to increase
his/her contribution without any limits. Any such increase or decrease in contribution will
only be allowed on policy anniversaries.
OTHER BENEFITS
a. Additional Protection for You and Your Family:
You have the option to add the following four additional benefits, providing total
protection against uncertainties.
 Accidental Death Benefit.

 Accidental Permanent Total/Partial Disablement Benefit.

 Critical Illness Benefit (CI).
 Hospital Cash Benefit (HC).
b. value
This policy acquires a surrender value after 3 complete years of the policy, provided the
1st 3 years’ premiums are paid. The Surrender Value is 100% of the value of investments.
c. Tax Benefits
Value of Units cancelled for Critical Illness and Hospital Cash Benefit is eligible for
tax relief under Section 80(D). Death Benefit and Withdrawals (partial or full) is tax
free under section 10(10) D of the Income Tax Act, if the premiums paid in any year
does not exceed 20% of the Sum Assured or Fund Value, whichever is higher. Incase
of change in any tax laws relevant to the policyholder or the fund performance, the
same will be applied as per regulations prevailing at the point of time.
AGE LIMITS
Age at entry:
Minimum age of entry: 0 years (Completed years)

Maximum age of entry: 60 years (Completed years)

CHILD CARE
Taking care of a child is perhaps the most important job a parent can have. It is but natural
that you would like to give your child your best, and therefore, this is the time when careful
financial planning can help you fulfill the aspirations that you have for your children. The
Bajaj Allianz “Child Care” Solutions help you to enjoy the joys of parenthood responsibly,
with the reassurance of a secure future for your child.
CHILD CARE PLAN OFFERS
Child Care plan is a children money back plan with profit. Bajaj Allianz Child Care offers a
wide array of solutions that allows you to plan for your child’s future by providing you with
as many as 4 distinct and unique options.
1. Child Care 21
2. Child Care 24
3. Child Care 21 Plus
4. Child Care 24 Plus
START OF LIFE BENEFIT

This is a unique feature of Bajaj Allianz “Child Care” 21 Plus & 24 Plus. These packages
offer you the choice of providing a unique Start of Life Benefit for your child. For a nominal
amount, an additional Sum Assured subject to a maximum limit of Rs.10 Lacks will become
payable to enable the child start hi/her professional life smoothly, in case of an unfortunate
death or Accidental Permanent Total Disability of the Policy holder during the term of the
policy. This benefit will not be available in the event of accidental permanent total disability
after age 65 of the policy holder.
IN-BUILT BENEFITS
A) PREMIUM WAIVER BENEFIT:
In case of death or Accidental Total Permanent Disability of the policyholder during the
premium payment term, all future premium payments are waived. This benefit will not be
available in the event of accidental permanent total disability after age 65 of the policy
holder.
B) FAMILY INCOME BENEFIT:
In case of death or accidental total permanent disability of the policy holder during the
term of the policy, a monthly income benefit of 1% of the sum assured (12% per annum)
becomes payable till the end of the policy term (subject to a maximum of Rs. 1,20,000
per annum). This benefit will not be available in the event of accidental permanent total
disability after age 65 of the policy holder
C) OPTION TO PURCHASE FURTHER INSURANCE AT MATURITY:
For ensuring continuity of the valuable insurance protection that the child was enjoying,
we offer the child and option to purchase a with profits endowment or an equivalent plan

from Bajaj Allianz Life Insurance Company for twice the amount of face value of this
policy, without any medical examination, on the premium rates prevailing at that time.
(The application must be made at least 6 months prior to maturity of this policy).
PAYOUT STRUCTURE
For Child Care 21 and Child Care 21 Plus: The minimum guaranteed payouts are as follows:
Policy Anniversary following completion of Age 18 19 20 21
Payout as % of Sum Assured 20% + Accrued Bonuses 25% 25% 35%
For Child Care 24 and Child Care 24 Plus: The minimum guaranteed payouts are as follows:
Policy Anniversary following completion of Age 18 20 22 24
Payout as % of Sum Assured 25% + Accrued Bonuses 25% 25% 40%*
* refers to probable increase in payout based on higher interest during the payout period.
DEATH PAYOUT
In the event of unfortunate death of the child during the policy terms, the payouts shall be as
under
Age Payout

Premiums paid will be refunded without interest and the policy

Below 7 years
will terminate.
Above 7 years and below 18 Sum assured with accrued bonuses will be paid and the policy
years will terminate.
Above 18 years and below Outstanding payouts will be paid as one lump sum and the
24 years policy will terminate.
HOW TO GET STARTED?
This gets started by opening an account with a minimum premium of:
 Rs. 5000/- p.a. for annual mode.
 Rs. 2500/- p.a. for half-yearly mode.
 Rs. 2000/- p.a. for quarterly mode.
 Rs. 700/- p.a. for monthly mode.
AGE LIMITS
Child Care 21 and Child Care Child Care 24 and Child Care
Eligibility Conditions
21 Plus 24 Plus
Minimum age of the

20 20
policyholder
Maximum age of
50 50
policyholder

Minimum age of child 0 0
Maximum age of child 13 13
Minimum Premium Rs.4850 Rs.4850
Minimum Premium Payment

5 5
Term
Maximum Premium Payment

18 18
Term
Maximum age of child at

21 24
maturity
Maximum Sum Assured Rs. 50,00000 Rs. 50,00000

CHAPTER 4
ANALYSIS OF DATA COLLECTED

NEW UNIT GAIN PLUS Vs LIC BIMA PLUS
FEATURES NEW UNIT GAIN PLUS LIC BIMA PLUS
0-60 years 12-56 years

Age
Choice rests with a minimum period 10 years

Term
of payment of 3 years.
Sum Assured Maximum limit up to

Minimum sum assured is 5 times the Rs. 2 lakhs.
premium paid. Maximum sum
assured is as per the limits set per
age bands.
Value of Fund at Bid Price Bid value of the fund units along
Survival Benefit
with maturity bonus at 5% of the
Sum Assured.
Higher the Sum Assured or value of Death during the 1st 6 months- 30%
units. However, the value of units of SA + value of units, next 6
Death Benefit will treat as death benefit if the Life months – 60% of SA + value of
Assured is > 7 years or < 70 years. units. Death after 1st year-SA +value
of units. Death during the 10th year-
105% of SA + value of units.
Partial or complete withdrawals at Premature withdrawal allowed 1

Withdrawal Benefit
bid price after3rd year. year(after applying bid-offer
spread).

OTHER DIFFERENCES

Not specified.
Contribution Minimum: Rs. 15,000 p.a
Flexibility to Only an increase in contribution is Not available.

increase/decrease allowed.
contribution
Equity Fund, Debt Fund, Balanced, Secured & Risk.

Investment options
Balanced Fund, Cash Fund.
Increase/Decrease of Available. Not available.

death benefit
Not Available. Not available.

Bonus Points
Available. Available (charges: 1.5% of the

Top-up
top-up).
Switch 3 free switches every policy year. No free switches. Cost of

Subsequent switches would be switches is 2% of the fund value.
charged @1% of switch amount
or Rs. 100 whichever is higher.
A selling/purchase price spread of Partial surrender up to 50% of bid

Surrender Value
5% will be applicable from the 3 rd value of units allowed after 3
year onwards. years from the date of
commencement.

Automatic Cover Available after the 3rd policy year. Not available.
Continuance
Charges :
Initial charge Not disclosed
1st Year- 24% ; 2nd Year-3%
3rd Year- 3%. No charges grom 4th
year onwards.
Admin charges Annual admin. Charges of 1.25%

of net assets.
Other charges Not applicable.

Transaction charge of 0.5% of the
equity investment & 0.1% of the
debt investments.
Bid-offer spread
The bid-offer spread is 5% of the Not applicable.
offer price.
Fund management Annual investment charge of 1%

Charge p.a. of net assets. 1% of the fund per annum
ABR/ ADBR / CI/Hospital Cash In Built Accident Benefit.

Benefits.
Riders

CHILD CARE Vs SMART KID (ICICI Pru.
FEATURES
CHILD CARE SMART KID
Plan Type Anticipated Endowment. Anticipated Endowment.
Min Max Term Matures when the child reaches the age Matures
of between 22-25 years of child.
21 or 24. Premium paid till child reaches
Term is 10-25 tears.
age 18.
Min Max Age of 1-13 Years. 0-12 Years.

Child
Min Max Age of 20-50 Years. 20-60 Years.

Parent
Payment Modes All regular premiums. All regular premiums.
Life Assured Parent.

Child is insured. But premium waiver
rider available for parent.
Beneficiary Child Child.
Flexibility in 2 structures : 2 structures :

benefit structure 1. Money is paid on the 18th, 19th, 1. When the child reaches the
20th and 21st year (20%+25% criteria milestones ( Xth, XIIth,
+25%+35%) Graduation, Post Grad.)
2. Money is paid on the 18th, 20th, 22 2. Last 4 year before maturity.
or 24th year (25%+25%+25%
+40%)
OTHER DIFFERENCES

Benefit-Death of None if premium waiver rider is not

SA is paid up front. Child gets the
Parent purchased. Guaranteed payments as chosen
earlier.All future premiums are
waived off.
Benefit- Death of < 7 years – Premiums refunded without Policy continues as it is.
Child interest >7 years & <18
Years – SA + Bonus > 18 years –

Outstanding payments as a lump sum.
Bonus & Not guaranteed. Paid after the end of the

3.5% of SA compounded annually
Additions premium paying term. for the1st 4 years, annual bonuses
declared thereafter.
Riders available Family Income Rider/ Premium Waiver

ADBR / IBR
Rider.
Surrender Value Available after 3 premium paying years. Available after 3 premium paying
years.

CHILD CARE Vs HDFC CHILD PLAN
FEATURES CHILD CARE

HDFC CHILD PLAN
Plan Type
Anticipated Endowment. Endowment.
Min Max Matures when the child reaches the age of 21

10-25 Years.
Term or 24 Premium paid till child reaches age 18.
Min Max Age 0-13 Years.

of Child
Min Max Age 20-50 Years. 18-60 Years.

of Parent
Payment All regular premiums. All regular premiums.

Modes
Life Assured Parent.

Beneficiary Child.
Child.
Flexibility in 2 structures : The customer has to choose

benefit 1. Money is paid on the 18th, 19th, 20th amongst 3 separate plans, with
structure and 21st year (20%+25%+25%+35%) deferring premiums based on the
2. Money is paid on the 18 th, 20th, 22nd plans.
24th year (25%+25%+25%+40%).
OTHER DIFFERENCES

Benefit-Death None if premium waiver rider is not purchased. Opt for either one of
of Parent the plans:
1. SA+ Bonuses
paid upfront
2. SA + Bonuses
paid on
maturity.
3. SA paid on
death & SA +
Bonuses paid
on maturity.
Benefit- Death < 7 years – Premiums refunded without interest >7 Policy continues as it is.
of Child years & <18
Years – SA + Bonus > 18 years – Outstanding

payments as a lump sum
Bonus & Not Guaranteed. Paid after the end of the premium
Simple Reversionary
Additions Paying term. Bonuses paid till
maturity.
Riders Family Income Rider/ Premium Waiver Rider. None.

available
Surrender Available after 3 premium paying years. Available.

Value

CHILD CARE Vs OM KOTAK CHILD ADVANTAGE
OM KOTAK CHILD
FEATURES CHILD CARE
ADVANTAGE
Plan Type Anticipated Endowment. Endowment.
Min Max Term Matures when the child reaches the age of 21 or 24.
10-30 Years.
Premium paid till child reaches age 18.
Min Max Age 1-13 Years. 0-17 Years.
of Child
Min Max Age 20-50 Years.
of Parent -
Payment Modes All regular premiums. All regular premiums.
Child is insured. But premium waiver rider Parent.

Life Assured available for parent.

One structure only. Lump
Flexibility in 2 structures : sum payment made on
benefit structure 1. Money is paid on the 18th, 19th, 20th and 21st maturity which consists of
year (20%+25%+25%+35%) SA or accumulated
2. Money is paid on the 18th, 20th, 22nd or bonuses, whichever is
24th year (25%+25%+25%+40%). higher.
If the child is 18(then Sa or
Benefit-Death None if premium waiver rider is not Accumulation paid,
of Parent purchased. whichever is higher. Else
total premium or SV is
paid whichever is higher).

OTHER DIFFERENCES
Benefit- Death < 7 years – Premiums refunded without interest Policy continues as it is.
of Child >7 years & <18
Years – SA + Bonus > 18 years – Outstanding

payments as a lump sum
Bonus & Not guaranteed. Paid after the end of the premium
Additions paying term. Not guaranteed.
Riders available Family Income Rider/ Premium Waiver ADBR, WOP.

Rider.
Surrender Value Available after 3 premium paying years. Available.

CHILD CARE Vs TATA AIG EDUCARE (18 YEARS)
FEATURES
SMART KID TATA AIG EDUCARE
Plan Type Regular premium endowment

Anticipated Endowment.
plan- Positioned as a Child
Plan.
Min Max Matures when the child reaches the Matures when the child is 18
Term Age of 21 or 24. Premium paid till years of age.
Child reaches age 18.
Min Max Age 0-13 Years. 30 days to 8 years of age.

of Child
Min Max Age 20-50 Years. Not applicable.

of Parent
Payment All regular premiums. All.

Modes
Child- till the child reaches the

Life Assured age 18 , the parent will be the
policyholder. At 18, the policy
will be transferred in the
child’s name.
Flexibility in 2 structures :
benefit 1. Money is paid on the 18th, 19th, 20th Single payment structure.
structure and 21st year 20%+25%+25%+35%)
2. Money is paid on the 18th, 20th, 22nd or

24th year (25%+25%+25%+40%)
Benefit-Death None if premium waiver rider is not

Policy lapses in case payer
of Parent purchased. benefit rider is not opted for.
Benefit- Death < 7 years – Premiums refunded without The proceeds are paid to the
interest >7 years & <18
of Child parent.
Years – SA + Bonus > 18 years –

Outstanding payments as a lump sum
Bonus & Not guaranteed. Paid after the Guaranteed – 10% of SA paid
Additions End of the premium paying term. at maturity or death provided
the policy has been in force for
10 years. Plus a guaranteed
education benefit of 20% of
the SA paid at the maturity.
Riders Family Income Rider/ Premium Waiver

Payor Benefit Rider-premium
available Rider. waiver.
30% of the premiums

paid(excluding the 1st
premium & extra premium , if
Surrender Available after 3 premium paying years. any) provided 3 annual
Value premiums have been paid in
full.
CONCLUSION
I have identified how Bajaj Allianz insurance company works. I have seen that the
underwriting department plays a significant roles in selecting the schemes. Have also

analysed the differences in various schemes offered by other insurance companies.i found out
that Bajaj Allianz has edge over its competitors in many schemes.Various schemes offered by
Bajaj Allianz insurance company has been studied and also the way each scheme brought by
the agents are analysed and their risk factors are laid down .
Bajaj Allianz maintains sound position in the market. Its efficiency inits various schemes are
clearly reflected in their working . The company has primarily been operating on cash drawn
from the market and reaping full benefits of its brand name.
However, trust on LIC is far much better in the market . The company has a well built chain
and all its processes of delivering to the clients are very well established a. It has a competent
control system in place for managing its agents, claims and underwriting and operations.
Nevertheless there is scope for improvements in investments of its collection from the clients
and building trust.

BIBLIOGRAPHY
EMPLOYEE OF BAJAJ ALLIANZ
WEBSITES
www.bajajallianz.com
www.bajajallianzlife.co.in/donotdist.asp
https://bajajallianzlifeonline.co.in
www.hdfcinsurance.com/
www.licindia.in
www.iciciprulife.com
MAGAZINES
Business today

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[TYPE THE DOCUMENT TITLE]

SERIAL NUMBER PARTICULARS PAGE NUMBER

1. INDUSTRY AND COMPANY PROFILE 7-19

2. WEEKLY REPORTS COMPILED 21-23

3. SOURCES OF DATA 25-34

4. ANALYSIS OF DATA 36-51

5. CONCLUSION AND BIBLIOGRAPHY 56-59

[Type the company name] 1

[Type the company name] 2

INTRODUCTION OF INDIAN INSURANCE INDUSTRY

[Type the company name] 3

Indian insurance companies offer a comprehensive range of insurance plans, a range that is

[Type the company name] 4

 IRDA has notified Protection of Policyholders Interest Regulations 2001 to provide

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LIST OF INSURANCE COMPANIES IN INDIA

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TREND OF INSURANCE INDUSTRY IN INDIA

[Type the company name] 7

MARKET SHARE OF VARIOUS COMPANIES

[Type the company name] 8

[Type the company name] 9

GLOBAL INSURANCE INDUSTRY STATISTICAL ANALYSIS

Insurance Industry Overview

Global Insurance Industry

[Type the company name] 10

SWOT ANALYSIS OF INSURANCE INDUSTRY IN INDIA

Poor access to collection of premiums

W Sales personnel needs more training.

IRDA removal of control on pricing

Many foreign entrants in Indian market

FUTURE SCOPE OF INSURANCE IN INDIA

[Type the company name] 12

BAJAJ ALLIANZ INSURANCE COMPANY

 Bajaj Allianz Life Insurance Company Limited is a joint venture

 Allianz AG is an insurance conglomerate globally and one of the largest asset

 Owners: Bajaj Auto (India)and Alliaz AG (Germany)

 Head Office: Pune CEO: Mr. Kamesh Goyal

[Type the company name] 13

BAJAJ AUTO LIMITED

 Financial strength and stability to support the Insurance Business.

 A good market reputation as a world class organization.

 An extensive distribution network.

 Adequate experience of running a large organization.

 A 10 million strong base of retail customers using Bajaj products.

 Advanced Information Technology in extensive use.

[Type the company name] 14

ALLIANZ AG- A GLOBAL FINANCIAL POWERHOUSE

 Worldwide 2nd by Gross Written Premiums - Rs.4,46,654 cr.

 12th largest corporation in the world

 49.8 % of global business from Life Insurance

 Established in 1890, 110 yrs of Insurance expertise

WORKING OF THE COMPANY:-

[Type the company name] 16

a. Choice of investment plan:

[Type the company name] 17

b. Choice to switch between investment options:

a. Increase the death benefit:

[Type the company name] 18

b. Decrease the death benefit:

c. Premium holiday option:

a. Additional Protection for You and Your Family: