A PROJECT REPORT ON 7 PS of Service Marketing TOWARDS

Submitted to Narmada College of Management, Bharuch.

PREPARED BY: JAIMIN MODI ROLL NO: 1046

Bharti AXA General Insurance is a joint venture between Bharti, one of Indias leading business groups with interests in Telecom, Agri Business and Retail; and AXA, world leader in Financial Protection and Wealth Management. Bharti Group holds 74% of equity and AXA holds 26% of the equity. With a vision to become the leader and preferred company for financial protection in India, Bharti AXA General Insurance offers its customers individuals and businesses- a wide range of products and services that meet their insurance needs. The values upon which its business practices are based are availability, attentiveness and reliability. The company leverages the Bharti Groups large customer pool, and has developed a strong multi-channel distribution network in both urban and rural markets. The company was incorporated on 13th July 2007. Headquartered in Bangalore, the company currently has 40 branches across India. The Management team at Bharti AXA General Insurance consists of experienced leaders who are passionate about their companys vision and goals and are committed to the development of Bharti AXA General Insurance as the preferred company for Financial Protection in India. Bharti AXA presents an array of protective plans to suit clients personal and business requirements. Bharti AXA system of values is as follows: A) Reliable: prompt settlements, customer service and professionalism. b) Attentive: to customer listening to our customers. needs as they change with time, and actively

c) Available: easy customer access to money and to our company, and plans that have builtin flexibility and convenience.

Mission: To be the preferred company for general insurance in India.

Strategy: Quality Policy (1) To provide fast, fair and friendly service to customers & partners. (2) To achieve a leadership position in India through a multi-distribution, multi-product platform. (3) To adapt AXAs best practice blueprints as a sound platform for profitable growth. (4) To leverage Bhartis local knowledge, infrastructure and customer base (5) To deliver high levels of shareholder return (6) To build long term value with our business partners by enhancing the proposition to their customers (7) To be the employer of choice to attract and retain the best talent in India (8) Strong distribution network & customer base of Bharti provides access to customer base of more than 60 million

 7 Ps of Service Marketing of Bharti AXA General Insurance:

1. Products and Services: A) Retail Insurance: a. Motor b. Health c. Personal Accident d. Home e. Shop B) Commercial: a. Fire b. Engineering c. Marine d. Property Crime e. Liability f. Package C) Rural: a. Agricultural Pump set b. Cattle Insurance Policy

2. Price: Pricing factor is decided on the basis of the type of products which the customer buys. But in true sense, pricing is very competitive as there are lots of competitors all over the country. Bharti AXA is a strong player in private companies and its price structure is highly competitive and reliable. Example of Bharti AXA General Insurance: Policy of Two Wheeler Insurance: This policy provides the following covers 1. Accidental damage to the vehicle due to:

Fire, lightning, self-ignition, external explosion, burglary, housebreaking or theft, malicious act. Riot and strike; terrorism; earthquake; flood, cyclone and inundation Whilst in transit by rail, road, air, elevator, lift.

2. Liability covers for:

Third party injury or death Third party property damage caused to their property.

3. Place: Bharti AXA General Insurance Co. Ltd. Plot No. 844/4, Mazzanine Floor, Fun Republic, Shah Industrial Estate, New Link Road, Andheri (W) Mumbai: 400053 Bharti AXA has selected good location in Mumbai. They are Fort and New Link Road of Andheri (W).

4. Promotion: The following are the tools through which Bharti AXA promotes its general insurance business:

Tele-marketing Internet Hoardings Personal Selling Advertisement through newspapers, business magazines and FM radio

5. People: Bharti AXA has a vision to ascend to the preferred company status by 2012 to be preferred by customers, shareholders and employees. The Company believes that by being available, attentive and reliable, it will become the preferred company for its customers. And its people are Human Capital who has a key role in this process, and it is committed to create an emotional commitment with its employees. The company also has synergy of the Global best practices of AXA Group, the Country specific proven best practices of Bharti Group and supplement it with its own set of towards creating a culture that can attract best of the talents, nourish and retain them to initiatives achieve the long term Corporate Vision. 6. Process: From the minute customers claim intimation is received, the Claims Team becomes active and acts efficiently and swiftly towards its settlement. This is part of their Endeavour to make the Bharti AXA General Insurance customer experience always a positive one. Bharti AXA CLAIMS MISSION is Fast, fair and friendly services, delivered in a proactive, cost efficient manner through technology platforms. Along with the claim procedure being so smooth, the general insurance customer is very much satisfied while taking policy. The customer is given every minute detail about a particular policy which he wants.

7. Physical Evidence:

Stationery Separate departments for smooth functioning of work like Public Relation Department Brochures Internet / Web Pages Business cards