1

Project Report

On
“BAJAJ ALLIANZ INSURANCE PRODUCT”

Submitted in the partial fulfillment of the degree of Bachelor of Business

Administration

2008-09

DEPARTMENT OF MANAGEMENT STUDIES

TEERTHANKER MAHAVEER INSTITUTE OF
MANAGEMENT & TECHNOLOGY, MORADABAD (U.P.)

AFFILIATED TO
M.J.P. ROHILKHAND UNIVERSITY

Project Guide: Project Incharge :

Dr. Mayank Sharma Dr. Mayank Sharma
(Course Coordinator)
Submitted By:
POOJA PAL
Roll No. 770383
B.B.A VIth Sem
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Preface
The project that I have undergone at Bajaj Allianz Life Insurance Company

Limited was the most memorable part of my program. It has improved my

knowledge and as well gave me the opportunity to face the corporate world. I have

been made to know exactly what is expected out of me. It was a tough but a

challenging part of my career and I have enjoyed every part of it. The project has

given me the opportunity to test my caliber and analyze myself.

WE have tried to put our maximum effort to get the accurate

statistical data. However we would appreciate if any mistake are brought to

us by the reader.
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Acknowledgement

It’s been an honor and privilege to do my Project at Bajaj Allianz. I take this opportunity

to communicate my sincere thanks & regards to everyone who has contributed to make

my project and helped in its successful completion.

First of all, I would like to express my gratitude to my Project Guide Dr.Mayank

Sharma, for giving me the opportunity to make the report at Bajaj Allianz and learn the
working of the organization. I have gained insight & knowledge of the Life Insurance
industry and various tools and techniques used. I am heartly grateful to him for their
kindness and valuable suggestion they extended to us to shape this work.

Also a bunch of thanks to Mr. SURESH JAIN (CHAIRMAN, TMIMT), Mr. MANISH
JAIN (VICE CHAIRMAN, TMIMT), Dr.A.K.GARG (EXECUTIVE DIRECTOR
GENERAL, TMIMT), Mr. M.P.SINGH(HOD OF MANAGEMENT DEPARTMENT),
Dr. MAYANK SHARMA(COURSE COORDINATOR BBA), Mr. SANJEEV
SINGH(LIBRARIAN).

I would also like to thank my all Faculty members of TMIMT. For guiding & supporting
me throughout the market survey.
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CONTENTS
PREFACE
ACKNOWLEDGEMENT
TABLE OF CONTENTS
1) INTRODUCTION
1.1) OVERVIEW OF THE INSURANCE INDUSTRY

1.2) WHAT IS INSURANCE

1.3) PURPOSE & NEED OF INSURANCE

1.4) HOW INSURANCE WORKS

1.5) THE BUSINESS OF INSURANCE

1.6) ROLE OF INSURANCE IN THE ECONOMIC

DEVLOPMENT

2) MILE STONE OF INSURANCE REGULATION IN THE 20th

CENTURY
3) COMPANY PROFILE
4) PERFORMANCE
5) RESARCH METHODOLOGY
6) ANALYSIS & INTERPRETATION
7) CONCLUSIONS
8) RECOMMENDATIONS
9) LIMITATIONS
10) BIBLIOGRAPHY
11) ANNEXURE
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INTRODUCTION
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INTRODUCTION
1.1 Overview of the insurance industry:
The liberalization of the Indian insurance sector has been a subject of contention
for a number of years. But its finally all set to open new doors to private competition. The
Insurance Regulatory Development Authority bill has been passed to make way for the
private insurance companies to enter the Indian market.
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Over past three years, around 30 companies have expressed interest in

entering this sector. Several Indian companies are making an entrance with their foreign
partners. Bajaj Auto Ltd., India's leading 2 & 3 wheeler manufacturer and Allianz AG,
the world's largest general Insurance Company. Kotak Mahindra with Chubb,S.B.I. with
Alliance Capital, IDBI with Principal,TATA with AIG. All these add up to new products,
better packaging and improved customer service and most importantly for you, greater
employment opportunity.
The new and improved insurance sector promises several new job
opportunities. Ideal candidates are those who are employed in the finance sector, or are
equipped with degrees in finance. India employs 5 lakh people in the insurance sector as
opposed to 6 lakh in the U.K. statistics reveal how underplayed the insurance sector in
India has been. This is changing with the arrival of the multinational companies. An
estimated 25000 is likely to be employed in the next two years. Companies are planning
to set up offices in the four metros and Hyderabad and Bangalore.
Once the private players come on the scene the demand for skilled
workers are likely to increase. In the insurance sector itself there will be demand for
marketing specialist, finance experts, human resource professionals, engineers from
diverse streams.
At present in India following private companies have opened their branches
at different branches at different locations. Insurance industry in the year
2000-01 had 10 new entrants (Foreign players entering the Indian insurance
sector with their Indian partners)

Sl. No. Registration no. Date of registration Name of insurance company

101 23.10.2000 HDFC Standard Life Insurance Company Ltd

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2 105 24.11.2000 ICICI Prudential Life Insurance Company Ltd.

3 107 10.01.2001 Birla Sunlife Insurance Company ltd.

4 109 31.01.2001 OM Kotak Mahindra Life Insurance Company Ltd.

5 110 12.02.2001 Tata AIG Life Insurance Company Ltd.

6 111 30.03.2001 SBI life Insurance Company Ltd.

7 114 2.08.2001 ING Vysya Life Insurance Company Ltd.

8 116 3.08.2001 Bajaj Allianz Life Insurance Company Ltd.

9 117 6.08.2001 MetLife India Insurance Company Ltd.

1.2 What is Insurance?

The business of insurance is related to the protection of the economic
value of assets. Every asses has a value. The asset would have been created through the
efforts of the owner, in the expectation that, either through the income generated there
from or some other output, some of his needs would be met. There is a normally expected
life time for the asset during which time it is expected to perform. The owner, aware of
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this, can so manage his affairs that by the end of that life time, a substitute is made
available to ensure t6hat the value or income is not lost. However, if the asset get lost
earlier, being destroyed or made non-functional, through an accident or other unfortunate
event, the owner and those deriving benefits there from suffer. Insurance is a mechanism
that helps to reduce such adverse consequences.

1.3 Purpose & need of insurance:

Assets are insured, because they are likely to be destroyed or made non-functional,
through an accidental occurrence. Such possible occurrences are called perils. The
damage that these perils may cause the asset, is the risk that the asset is exposed to.
Insurance is done against the contingency that it may happen. Insurance is relevant only
if there are uncertainties. If there is no uncertainty about the occurrence of an event, it
cannot be insured against. Conceptually, the mechanism f insurance is very simple.
People who are exposed to the same risks come together and agree that, if any one of the
members suffers a loss, the others will share the loss and make good to the person who
lost. The manner in which the loss is to be shared can be determined before hand. It may
be proportional to the likely loss that each person is likely to suffer, which is indicative of
the benefit he would receive if the peril befell him. The share could be collected from the
members after the loss

has occurred or the likely shares may be collected in advance, at the time of admission to
the group.
A human life is also an income-generated asset. This asset also can be lost through
unexpectedly early death or made non-functional through sickness and disabilities caused
by accidents. Death will happen, but the timing is uncertain. If it happens around the time
of one’s retirement, when it could be expected that the income will normally cease, the
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person concerned could have made some other arrangements to meet the continuing
needs. But if it happens much earlier when the alternate arrangements are not in place,
insurance i8s necessary to help those dependent on the income.
Insurance does not protect the asset. It does not prevent its loss due to the peril. The
peril cannot be avoided through insurance. The peril can be sometimes avoided, through
better safety and damage control management. Insurance only tries to reduce the impact
of the risk on the owner of the asset and those who depend on that asset. It compensates,
may not be fully, the losses. Only economic or financial losses can be compensated.
The purpose of insurance is to safeguard against the misfortune by making good the
losses of the unfortunate, through the help of the fortunate many, who were exposed to
the same risk saved from the misfortune. Thus the essence of insurance is to share losses
and substitute certainty by uncertainty.

1.4 How insurance work:

People facing common risks come together and make their small contributions to a
common fund. The contribution to be made by each person is determined on the
assumption that while it may not be possible to tell beforehand, which person will suffer,
it is possible to tell, on the basis of past experiences, how many persons, on an average,
may suffer loses. The following example explains the above concept of insurance.

EXAMPLE:
In a village, there are 400 houses, each valued at Rs.20000. every year, on the
average, 4 houses get burnt, resulting into a total loss of Rs.80000. This is enough to pay
Rs.20000 to each of the four owners whose houses got burnt. Thus the risk of 4 owners is
spread over 400 houses- owners of the village.
1.5 The business of insurance:
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The business of insurance done by insurance companies, called insurers, is to bring

together persons with common insurance interests (sharing the same risks), collecting the
share or contribution (called premium) from all of them, and paying out compensations
(called claims) to those who suffer.
The business of insurance is nothing but one of sharing. It spreads losses of an individual
over the group of individuals who face common risk. People who suffer loss get relief
because their loss is made good. People who do not suffer loss are relieved because they
are spared the loss.
The insurer is in the position of trustee as it is managing the common fund for and on
behalf of the community. It has to ensure that nobody is allowed to take undue advantage
of the arrangement. That is to say that the management of the business requires care to
prevent entry into group of the people whose risks are not of the same kind as well as
paying claims on losses that are not accidental. The decision to allow entry is the process
of underwriting of risk. Both underwriting and claim settlement have to done with great
care.
1.6 Role of insurance in economic development:
For economic developments, investments are necessary. Investments are made out of
savings. A life insurance company is a major instrument for the mobilization of savings
of people, particularly from the middle and lower income groups. These savings are
channeled into investments for economic growth.
As on 31.3.2000, the total investments of the LIC exceeded 147,000 crores, of which
more than Rs.84000 crores were directly in Government (both State and Central) related
securities, nearly Rs.12000 crores in the State Electricity Boards,

Rs. 16000 crores in housing loans and Rs.3000 crores in water supply and sewerage
systems. Other investments included road transport, setting up of industrial estates and
directly financing industry. Investments in the corporate sector (shares, debentures and
term loans) exceeded Rs.28000 crores. These were areas which directly affect the lives of
the people and their economic well being. The L.I.C, like any other good life insurance
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company, has huge funds, accumulated through the small payments of premium of
individuals, and is a powerful contributor for the economic development of the country.
A life insurance company’s strength lies in the fact that huge
amounts are collected and pooled together. These amounts come by way of premiums.
Every premium represents a risk that is covered by that premium. In effect, therefore,
these vast amounts represent pooling of risks. The funds are collected and held in trust for
the benefit of the policyholders. The management of life insurance companies are
required to keep this aspect in mind and make all its decisions in way that benefit the
community. This applies also to its investments. That is why successful insurance
companies would not be found investing in speculative ventures. Their investments, as in
the case of the L.I.C, benefit the society at large.

COMPANY PROFILE
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COMPANY PROFILE
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BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED-

Bajaj Auto Ltd.

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.

Allianz AG-
Founded in 1890 in Berlin, Germany 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 Group provides its more than 60 million customers worldwide with a
comprehensive range of services in the areas of
Property and Casualty Insurance,
Life and Health Insurance,
Asset Management and Banking
49.8 % of global business from Life Insurance

Allianz AG has the following to offer Bajaj Allianz

General Insurance Company Ltd.:
• Set up and running of General insurance operations
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• New and improved international products

• One of the world's leading insurance companies
• More than 700 subsidiaries and 2 lac employees in over 70 countries
worldwide
• Provides insurance to almost half the Fortune 500 companies
• Technology

Partners with the same philosophy-

• Bajaj Auto
• Allianz AG

Bajaj Allianz Life Insurance Company Limited-

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Bajaj Allianz Life Insurance Company Limited is a joint venture between two leading
conglomerates Allianz AG and Bajaj Auto Limited Characterized by global presence
with a local focus and driven by customer orientation to establish high earnings potential
and financial strength, Bajaj Allianz Life Insurance Co. Ltd. was incorporated on 12th
March 2001. The company received the Insurance Regulatory and Development
Authority (IRDA) certificate of Registration (R3) No 116 on 3rd August 2001 to conduct
Life Insurance business in India

A household name in India teams up with a global conglomerate...

As a promoter of the Bajaj Allianz group Bajaj has the following to offer:
A strong brand-equity. 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.
Experience in the financial services industry through Bajaj Auto Finance Ltd
\

Bajaj Allianz- THE PRESENT -

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Pan India presence in more than 550 locations.

Wide range of products to suit your needs.
Decentralized organizational structure for increased response and service levels

All CCCs networked with state of art IT systems.

Highest standard of customer service & simplified claims process in the industry

Pioneers of Banc assurance in India

Having pioneered the phenomenon, Banc assurance is one our core business strategies.
Two of our strong Standard Chartered Bank
Syndicate Bank
7 Rural Banks Banc assurance tie-ups are
They have developed a range of life insurance products exclusively for Banc assurance
partners. Also, the products are customized to suit specific needs of banks.

Company’s Vision-
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• To be the first choice insurer for customers

• To be the preferred employer for staff in the insurance industry.
• To be the number one insurer for creating shareholder value.

Company’s Mission-

As a responsible, customer focused market leader, we will strive to understand the

insurance needs of the consumers and translate it into affordable products that
deliver value for money. To be the first preference of our customers by providing
innovative need based Life Insurance & Retirement Solutions to individuals as well
as corporates
Company’s Values-

Integrity
 Transparency
 Customer Focus
 Excellence
 Innovation
 Meritocracy
 Respect for the Individual
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A Partnership Based on Synergy-

Bajaj Allianz General Insurance Company offers technical excellence in all areas of
General and Health Insurance as well as Risk Management. This partnership successfully
combines Bajaj Auto's in-depth understanding of the local market and extensive
distribution network with the global experience and technical expertise of the Allianz
Group. As a registered Indian Insurance Company and a capital base of Rs. 110 crores,
the company is

• Fully licensed to underwrite all lines of general insurance business including

health

With management control by Allianz AG

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National Footprint

Ludhiana

New Delhi (8)

Chandigarh

Meerut
Jaipur Guwahati

Ahmedabad Kanpur
Baroda

Kolkata
Surat

Mumbai (7) Nagpur Hyderabad

Vishakapatnam

Note:- Bajaj Allianz has over 550 branches in all over India.
Mysore
Chennai (4)

Cochin
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PERFORMANCE
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Financial Highlights Year 2005 -06

Particulars 2005-06 2004-05 2003-04 2002-03 2001-02

Rs. Million Rs. Million Rs. Million Rs. Million (11 Months)*
Rs. Million
Gross Written Premium 12846 8,560.7 4,798 2,998 1,420
Net Written Premium 6987 4,792.9 2,864 1,808 841

Net Earned Premium 5864 3,709.2 2,306 1,541 98

Net Incurred Claims (4100) (2,263.3) (1,542) (1,072) (127)

Net Commissions 622 419.4 231 155 128

Management Expenses (2156) (1,455.9) (984) (689) (370)

Underwriting Results 230 409.4 11 (33) (271)

Income from Investments 520 388.8 285 207 143

Others 68 28.6 22 (3) (5)

Profit Before Tax 818 769.6 318 171 (133)

Provision for Tax (303) (298.7) (101) (75) 37

Profit After Tax 516 470.9 217 96 (96)

Claim's Ratio 70% 61% 67% 70% 130%

Commission Ratio -11% -11% -10% -10% -130%

Management Expenses Ratio 37% 40% 42% 43% 376%

Combined Ratio 96% 90% 99% 102% 376%

Return on Equity 23% 34% 20% 9% -9%

Shareholder's Equity 2,767 1,824.1 1,380 1,095 997

Assets Under Management 7580 5835.5 3,486 2,709 1,688

Number of Employees 1371 924 480 306 141

PRODUCTS OF BAJAJ ALLIANZ INSURANCE COMPANY LTD.

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Unit Linked Life Insurance-

Traditional Life Insurance-
Term Life Insurance-
Retirement Solutions
Unit Linked Products
1. Unit Gain Plus:

Key Features -
Guaranteed death benefit
Choice of 5 investment funds with
flexible investment management: you
can change funds at any time.
Attractive investment alternative to
fixed-interest securities.
Provision for full/partial withdrawals any
time after three full years premiums are
paid.
Unmatched flexibility- to match your
changing needs.

Benefits-

Death Benefit
Cash withdrawal option

2. Unit Gain Plus SP:

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The Bajaj Allianz Unit Gain SP comes with a host of features to allow you
to have the best of all worlds –Protection and Investment with flexibility like never
before. Some of the key features of this plan are:

• Convenient single premium payment, with option to pay top-ups later.

• 100% of the single premium/top-ups are allocated
• Guaranteed death benefit
• Choice of 5 investment funds with flexible investment management: you can
switch between funds at any time.

3. Life Long Gain:

The premiums paid are invested in the LifelongGain fund (based

on the allocation rate) & units are allocated depending on the offer price of units for the
fund. The value of your policy is the bid value of units that you hold in the fund. The life
insurance cover charges are deducted through monthly cancellation of units, and the fund
administration charge and fund management charge are priced in the unit value.

Benefits available under the plan

Death Benefit: In case of unfortunate premature death the beneficiaries are entitled to the
greater of:
a) Sum Assured less partial withdrawals
b) The bid value of units
If the age of the insured person is less than 7 or above 70, then the bid value of units is
paid.

Traditional Products
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Cash gain:
Bajaj Allianz Cash Gain is a specially designed plan that offers a host of additional
benefits you may choose to develop a sound financial portfolio for your family.
Among the many unique benefits, the most significant is the Family Income Benefit
(FIB) that sustains the family by compensating the loss of regular income due to
death or permanent disability.
A Uniform Life Cover
Besides giving you regular Cash Benefits, this plan takes care of your life insurance
needs also. On death during the term of policy, the following would be paid
irrespective of the Cash Benefits already paid:
• Bajaj Allianz Cash Gain Economy: Sum Assured + Bonuses
• Bajaj Allianz Cash Gain Gold: Double Sum Assured + Bonuses
• Bajaj Allianz Cash Gain Diamond: Triple Sum Assured + Bonuses
• Bajaj Allianz Cash Gain Platinum: Quadruple Sum Assured + Bonuses
Choice of Terms
Keeping your convenience in mind, we offer you the widest range of terms: 15, 20,
25 and 30 years.

Invest gain
It takes only a moment to make promises and a lifetime to keep them. Keeping promises
made to your loved ones is not just a responsibility, but a commitment that you have to
live up to. When you promise to see your family through thick and thin you need to make
sure that you have planned for all the eventualities that may befall on them. You need to
be prepared that even if there ever is an instance that you are not there with them you
have saved enough to see them through their entire life. We understand this need, which
is why we have developed Bajaj Allianz’s Invest Gain, the plan that helps you in saying
"My family, May you always be happy!”

Available as:
• Bajaj Allianz Invest-Gain Economy: The basic package
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• Bajaj Allianz Invest-Gain Gold: With double protection

• Bajaj Allianz Invest Gain Diamond: With triple protection

• Bajaj Allianz Invest Gain Platinum: With quadruple protection All these packages
participate in the profits of the company by way of bonuses, and therefore, grow with
time

Term Life Insurance

Term Care:
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The “Bajaj Allianz Term Care” Plan offers you the convenience of choosing between two
premium payment options.
• Regular Premium Payment – Premium payment throughout the selected
term.
• Single Premium Payment – One time premium payment for the selected term
at commencement.

Apart from covering the risk of natural death, this plan also provides you the option to
choose up to 5 additional benefits. You can select a specific combination of additional
benefits best suited to your needs, available in 4 attractive packages to choose from.
Economy: This is the basic plan, which is available for both the regular and single
premium payment options.
Protect: This pack comes with the following 3 in-built additional benefits:
a. Accidental Death Benefit. b. Accidental Permanent Total / Partial Disability Benefit. c.
Waiver of Premium Benefit (in case of accidental permanent total disability). The Protect
Pack is available with the regular premium payment option only.
Health: This pack comes with the following 2 in-built additional benefits:
a. Critical Illness Benefit. b. Hospital Cash Benefit. The Health Pack is available with the
regular premium payment option only.
Total: This pack comes with the following 5 in-built additional benefits:
a. Accidental Death Benefit.
b. Accidental Permanent Total / Partial Disability Benefit.
c. Waiver of Premium Benefit (in case of accidental permanent total disability). d.
Critical Illness Benefit. e. Hospital Cash Benefit. The Total Pack is available with the
regular premium payment option only.

Benefits
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Accidental Death Benefit

Accident Permanent Total / Partial Disability Benefit
Waiver of premium Benefit
Critical Illness Benefit
Hospital Cash Benefit

Premium Payment mode

Tax Benefits
Surrender
Loans

Risk Care:
The “Bajaj Allianz Risk Care” Plan offers you the convenience of choosing between two
premium payment options.

• Regular Premium Payment – Premium payment throughout the selected term.

• Single Premium Payment – One time premium payment for the selected term
at commencement.

Apart from covering the risk of natural death, this plan also provides you the option to
choose
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Up to 5 additional benefits. You can select a specific combination of additional benefits

best suited to your needs, available in 4 attractive packages to choose from.

Economy: This is the basic plan, which is available for both the regular and single
premium payment options.

Protect: This pack comes with the following 3 in-built additional benefits:
a. Accidental Death Benefit. b. Accidental Permanent Total / Partial Disability Benefit. c.
Waiver of Premium Benefit (in case of accidental permanent total disability). The Protect
Pack is available with the regular premium payment option only.

Health: This pack comes with the following 2 in-built additional benefits:
a. Critical Illness Benefit.
b. Hospital Cash Benefit. The Health Pack is available with the regular premium payment
option only.

Total: This pack comes with the following 5 in-built additional benefits:

a. Accidental Death Benefit.

b. Accidental Permanent Total / Partial Disability Benefit.
c. Waiver of Premium Benefit (in case of accidental permanent total disability).
d. Critical Illness Benefit.

e. Hospital Cash Benefit. The Total Pack is available with the regular premium
payment option only.
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Benefits
Premium Waiver Benefit
Family Income Benefit
Option to Purchase further Insurance
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RESEARCH METHODOLOGY
 32

RESEARCH METHODOLOGY

Research Topic:

“Market survey of Bajaj Allianz Insurance

products”
Meaning of Research:Research in common parlance e refers to a search for knowledge.
One can also define research as an art of scientific investigation.

Research is an academic activity and as such the term should be used in a technical sense.
According to Clifford Woody research companies defining and redefining problems,
formulating hypothesis or suggested solutions; collecting, organizing and evaluating data;
making deduction and reaching conclusion; at least carefully testing the conclusion to
determine whether they fit the formulating hypothesis.

Research is, thus, an original contribution to the existing stock of knowledge making for
its advancement.

Sampling Used: Random and Convenience Sampling.

a) Random Sampling: The selection of a sample from a population may be done in

a number of ways; that is to say, I can have different types of sampling. The
simplest & the most commonly used type of probability sampling is simple
random sampling.
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b) Convenience Sampling: Non-probability samplings that are unrestricted are

called ‘Convenience sampling’. They are the least reliable design but normally the
cheapest & easiest

to conduct. Researcher or Field workers have the freedom to choose whomever they find,
thus the name convenience.

What is Sampling?

The selected respondents constitute what is technically called a ‘SAMPLE’ & selection
process is called “SAMPLING TECHNQUE”

In my training period, I have covered the area in MORADABAD.My Sample size is

around 500 respondents with their queries and problems.

Sample Size: 500

Area of Study: MORADABAD

Duration of Study: 21h Jan to 5th May 2009

Type of Data Collected: Primary

Data Used in the Study: Primary as well as Secondary

Data Collection Method: Through Market Survey

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ANALYSIS & INTERPRETATION

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ANALYSIS & INTERPRETATION

Q.1 What is your Marital Status?
Ans: a) Married b) Unmarried

Most of the respondents are married i.e. 73% and rest of the respondents are
unmarried i.e. 27%.
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Q.2 Your Educational Qualification?

Ans: a) Matriculate b) Intermediate c) Graduate
d) Post Graduate e) Others

In the survey, I found that most of the respondents are post graduate i.e. 47%, some
of are graduate i.e. 36%, some of them are intermediate i.e. 11%, some of them are
matriculate i.e. 3% and rest of them belong to others category i.e. 3%.
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Q.3 What is your Occupation?

Ans: a) Government Employee b) Private Employee c)
Businessman

Most of the respondents are government employees i.e. 54%, some of them are
private employees i.e. 20% and rest of them are businessman i.e. 26%.
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Q.4 Your Income Per Annum?

Ans: a) 50000 to 1, 00,000 b) 1, 00,000 to 2, 50,000
c) 2, 50,000 to 3, 50,000 d) Above 3, 50,000

Most of the respondents have their annual income between 2, 50,000 to 3, 50,000 i.e.
54%, some of the respondents come between the income i.e. above 3, 50, 000 i.e.
27%, and rest of the respondents come between the low income category.
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Q.5 Do you have any insurance policy?

Ans: YES NO

Most of the respondents have their insurance policy i.e. 83% and others respondents
i.e. 17% have not their insurance policy.
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Q.6 What was your purpose of taking that policy?

Ans: a) Risk coverage b) Savings c) Investment
d) Tax Rebate e) Others

In the response of taking policy, most of the respondents reply that they take
insurance for tax rebate i.e. 36%, some them take insurance for investment i.e. 31%,
some take insurance for risk coverage i.e. 14%, some take insurance for savings i.e.
12% and rest of the respondents reply that they take insurance for other factors i.e.
7%.
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Q.7 Have you Heard about Bajaj Allianz Insurance Policies?

Ans: YES NO

Most of the respondents have heard about the bajaj Allianz i.e. 99%, and those not
heard about bajaj Allianz these are 1%.
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Q.8 Which of the Bajaj Allianz policies have you heard?

Ans: a) Unit Gain b) Unit Gain Plus c) Invest Gain
d) Care First e) Child Gain f) Others

Most of the respondents reply that they heard about the policy that is Care First i.e.
27%, some of them heard about Child Gain i.e. 23%, some of them heard about
Unit Gain i.e. 24%, some of them heard about Invest Gain i.e. 12%, some of them
heard about Unit Gain Plus i.e. 11% and rest of them heard about others policy i.e.
3%.
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Q.9 Have you subscribed to any of Bajaj Allianz Policies?

Ans: YES NO

Most of the respondent’s reply that they had subscribed for bajaj Allianz policies
i.e. 64%, and rest of them reply that they never subscribed for bajaj allianz policies
i.e. 36%.
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Q.10 If Yes, which Plan?

Ans: a) Endowment Plan b) ULIP

Most of the respondents have subscribed themselves for endowment plan i.e. 76%,
and rest of them subscribed themselves for ULIP i.e. 24%.
 45

Q.11 Are you satisfy with the Bajaj Allianz Policy?

Ans: YES NO

In the response of satisfactions mostly respondents are satisfy i.e. 73% and rest of
the respondents are not satisfy i.e. 27%.
 46

CONCLUSION
 47

• I found that most of the respondents are married.

• I found that most of the respondents are post

graduate.

• Most of the respondents are government employees

• Most of the respondents have their insurance policy due to the basic

requirement.

• Most of the respondents insured their life for tax rebate and for

investment.

• Most of the respondents have heard about care first policy.

• Most of the respondents have heard about unit gain policy.

• Most of the respondents have subscribed them for bajaj Allianz.

• Most of the respondents have endowment plan.

• Now days respondents are satisfy with Bajaj Allianz.

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RECOMMENDATIONS
 50

 Unit Link Investment Plan is more beneficial.

 Care First is beneficial for medical claim

 51

 Including of riders are beneficial for insurance.

 Tax savers can go for Tax Rebate plan.

 Government Employees can go for saving plans.

 Widow can go for Child Education Plan and for Pension plan.

 Retired person can go for pensions plan.

Limitations
 52

The survey study was pursued under several constraints and limitations. Some of

the key limitations are: -

 53

1) The survey and research has been done only in Rudrapur and Haldwani.

Therefore the results show the client’s preference of peoples resides in

Rudrapur and Haldwani.

2) The sample size was not very large this hindered quantitative research.

3) The questionnaire mostly contained multilane choice question, therefore

many respondents did not give a proper thought before up the questions

and some even ticked things which were not applicable. Therefore all this

increased the bios.

4) Respondents were reluctant to answer some questions, as they took

them as personal, therefore increasing the possibility of error.

5) Topic of the report is such that exhaustive study is needed to prepare it.

So the time limit for preparation of report proved to be little.

BIBLIOGRAPHY
54
 55

BIBLIOGRAPHY

 ,

• “Research Methodology” by C.R. Kothari, Wishwa Prakashan,

2003

• “Research Methodology by Deepak Kumar, Bhattacharyya,

Excel Books, 2001.

• Through Internet.

• Through Survey with the Help of Questionnaire.

WEBLIOGRAPHY

www.bajajallianzlife.com

ANNEXURE
56
 57

“Market survey of Bajaj Allianz Insurance products”

QUESTIONNAIRE
This information is to collect the data for survey report. I would like to thanks all
respondent who are giving their valuable time for providing this information. I
make sure that this information will not be used in any other regards.
(POOJA
PAL)
Name of respondent
……………………………………………………………………………………………
………
Address………………………………...…………………………………………….
………………………………………
........................................……………………………Mobile
……………………………………………………
Q.1 What is your Marital Status?
Ans: a) Married b) Unmarried
Q.2 Your Educational Qualification?
Ans: a) Matriculate
b) Intermediate
c) Graduate
d) Post Graduate
e) Others
Q.3 What is your Occupation?
Ans: a) Government Employee
b) Private Employee
c) Businessman
 58

Q.4 Your Income Per Annum?

Ans: a) 50000 to 1,00,000
b) 1,00,000 to 2,50,000
c) 2,50,000 to 3,50,000
d) Above 3,50,000
Q.5 Do you have any insurance policy?
Ans: YES NO
Q.6 What was your purpose of taking that policy?
Ans: a) Risk coverage
b) Savings
c) Investment
d) Tax Rebate
e) Others
Q.7 Have you Heard about Bajaj Allianz Insurance Policies?
Ans: YES NO
Q.8 Which of the Bajaj Allianz policies have you heard?
Ans: a) Unit Gain
b) Unit Gain Plus
c) Invest Gain
d) Care First
e) Child Gain
f) Others

Q.9 Have you subscribed to any of Bajaj Allianz Policies?

Ans: YES NO
 59

Q.10 If Yes, which Plan?

Ans: a) Endowment Plan
b) ULIP
Q.11 Are you satisfy with the Bajaj Allianz Policy?
Ans: YES NO