PROJECT REPORT RELIANCE LIFE INSURANCE

SUBMITTED IN PARTIAL FULFILLEMENT FOR THE AWARD OF DEGREE OF BBA SUBMITTED BY:ANIRAJ 05021001709

UNDER THE GUIDANCE OF:-

MR. KESHAV GUPTA ASST. PROF. BBA(EVE)

SAKSHI VASHISHT ASST. PROF.BBA(EVE)

IDEAL INSTITUTE OF MANAGEMENT AND TECHNOLOGY AND SCHOOL OF LAW (G.G.S. Indraprastha university delhi)

INTRODUCTION:
In todays corporate and competitive world, I found out that the insurance sector has tha maximum growth potential as compared to other sectors. Insurance has a maximum growth rate of 70%-80% while an FMCG sector has a minimum growth rate of 12-15% . The potential attracts me to enter into this sector and Reliance Life Insurance has given me the opportunity to work in the highly competitive and enhancing sector. The success story of good market share of different market organizations depends upon the availability of the product and services near to the customer, which can be distributed through a distribution channel. In Insurance sector, distribution channel includes only agents or agency holders of the company. If a company like Reliance Life Insurance, TATA AIG, MAX etc. has adequate agents in the market they can capture big market as compared to the other companies. Agents are the only way for a company of Insurance sector through which policies and benefits of the company can be explained to the customer.

OBJECTIVES OF THE STUDY:

The research attempted to find out the preference of the people to a particular type of insurance policy. Research was also conducted to find out the preference of people to a particular insurer. The objective of research was to enable me to compile the data collected and help me in valid interpretation. It was also conducted to analyze and interpret the data to find out the market potential of life insurance.

SCOPE OF THE STUDY:

To understand the importance of life insurance for the customers. To understand the awareness of the consumers about the products of reliance life insurance. Finding out the suitable advisor and recruiting them.

SIGNIFICANCE OF THE STUDY:

The significance or importance of the study is that it will help in improving the image of the insurance compony. It will also improve its sale promotion technique and will also help the reliance life insurance to gain a better position in the market.

RESEARCH METHEDOLOGY: Research design

The research design for the comparative study is of exploratory type and the focus is given to discover the possible measures, by detailed analysis, for the company which would be helpful up to some extent to retain a good position in the competitive market. The research design is not formal and rigid one as the focus depends upon the availability of new ideas and relationship among variables.

Sampling
As per the sampling procedure is concerned, the finite universe is taken into consideration. Two type of survey are done in project one is internal and second is external. Internal survey includes discussion and questionnaire with insurance advisors.20 insurance advisors take as a sample during the survey. In Secondary survey sampling units include- businessmen, government employees, and private employees. The sampling is based upon probability sampling methods. The reason is- it is the only sampling method that provides essentially unbiased estimates having measurable precision. The sample size was 20.

Data collection
The data has been collected through interaction with insurance care consultants, through questionnaires filled from the insurance care consultant, through interaction with customers, public, through surveys and questionnaire filled from the customers.

LIMITATION OF THE STUDY:

The study has various limitations such as the consumers tend to prefer the life insurance policy of LIC. The efficiency of the staff of reliance life insurance to meet the sales target was major limitation. Perception of the customers for the reliance life insurance was also a great limitation to the study and also the motivation level of the staff. All these proved to be great limitation for the study.

REFERNCE:
www.reliancelife.co.in www.wikipedia.org

TABLE OF CONTENT:
Chapter1 Chapter2 o o o o Chapter3 o o o Chapter4 Chapter5 Chapter6 Chapter7 Chapter8 Chapter9 Introduction Compony profile Reliance capital History of reliance life insurance Corporate profile Products the compony Objective of the study Project title Scope Objective Research methodology Data analysis and interpretation Finding from the study. Limitations of the study. Contributions from study. Reference/bibliography