BAJAJ ALLIANZ GENERAL INSURANCE

SYNOPSIS
Bajaj Allianz is one of the most well-known Insurance Company in India. For the past decades, the most of the people gets aware of the insurance and its worth. The objective of the research is to find out the preference of people in Insurance Policies .The research goal is to study about the attributes which make the people to give much importance on Bajaj Allianz Insurance, for which a questionnaire is made and a sample size of 30 people is selected. A questionnaire of 10 questions is set on the basis of finding the preference of the Insurance Policies.

Introduction
To Study about the customers preference in Insurance Policies. How Bajaj Allianz is holds a good position in insurance field, the formulation is which related to the relationship between variables like why most of the peoples preferring Bajaj Allianz Insurance, does the ads impact the People. Different peoples need different type of insurance, the people they mostly focused on the Life, Property, and AutoMobile&Health Insurance.

ABOUT BAJAJ ALLIANZ

Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (recently demerged from Bajaj Auto Limited) and Allianz AG. Bajaj Allianz General Insurance received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 2 May 2001 to conduct General Insurance business (including Health Insurance business) in India. The Company has an authorized and paid up capital of Rs 110 crores. Bajaj Finserv Limited holds 74% and the remaining 26% is held by Allianz, SE.

Bajaj Allianz Life Insurance

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 two- and three-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. Bajaj Allianz Fact File: Owners: Bajaj Auto (India)and Alliaz AG (Germany) Head Office: Pune CEO: Mr.V.Philip 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 unitlinked, traditional, health, child and pension policies. Research Methodology: Research is totally based on primary data. Secondary data be used only for the reference. Research has been done by primary data collection, and primary data has been collected by meeting with the branch and agents of different Bajaj Allianz Insurance in Coimbatore City. Data collection has been done through by giving structured questioner. This study will be based on judgement sampling and this research is skewed to organisational level.This is an exploratory type of research. And needs further study also Research is a kind of pilot study. Area of Study: The area of the study related with getting correct information of general insurance policies of different peoples in the region of Coimbatore. Sampling: Sample size has been taken by judgement sampling. Judgement sampling is a process in which the selection of a unit, from the preference is based on the pre judgement. This research requires the survey of different Bajaj Allianz Insurance in Coimbatore City. So research concentrates on the branch agents of the different Bajaj Allianz Insurance Companies. So the selection of unit for this research has been judged by the researcher. Sample size for this research is 20. Limitations: Time limitation. Research has been done only in Coimbatore City. Companies did not disclose their secrets data and strategies. Possibility of Error in data collection. Possibility of Error in analysis of data due to small sample size.

Tools Used: To know the response , I have used the questionnaire method. If one wish to find what insurance care consultants think or know. The logical procedure is to ask them. This has led marketing researchers to use the questionnaire technique for collecting data more than any other method. In this method questionnaire were distributed to the respondents and they were asked to answer the questions in the questionnaire. The questionnaire were structured non disguised questionnaire because the question which the questionnaire contained, were arranged in a specific order besides every question asked were logical for the study, no question can be termed as irrelevant. The questionnaire was non-disguised because the questionnaire was constructed so that the objective is clear to the respondents. The respondents were aware of the objective. They knew why they were asked to fill the questionnaire.With the help of following techniques, which are using by Bajaj Allianz. DATA COLLECTION: Primary Data Sources Through interaction with Insurance care consultant. Through questionnaires filled from the Insurance care consultant. Secondary Data Sources: Through Internet, various official sites of the Companies. Through pamphlets and brochures of the Companies. Journals & Magazines. Literature Review: Bajaj Allianz Life Insurance Company Limited is a joint venture between two leading companies of the world. They are Allianz AG, one of the world's largest insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturers in the world. A very popular name in India, Bajaj Auto has a strong brand image and brand loyalty. Bajaj Auto has been in operation for more than 55 years and has joined hands with Allianz to provide the Indian people with a unique option in terms of life insurance products.

As a promoter of Bajaj Allianz Life Insurance Company Limited, Bajaj Auto offers the following:

Financial strength and stability to give proper support to the Insurance Business. A strong brand-equity. A good reputation in the market as a world class organization.

As a promoter of Bajaj Allianz Life Insurance Company Limited, Bajaj Auto offers the following:

Financial strength and stability to give proper support to the Insurance Business. A strong brand-equity. A good reputation in the market as a world class organization. An extensive network of disributors. Commendable experience of running a large organization. A 10 million strong base of retail customers using Bajaj products. Advanced Information Technology in large scale use. Experience in the financial services industry through Bajaj Auto Finance Limited.

Popular Life Insurance Products of Bajaj Allianz Term Care Term Plan with Return-of-Premium Invest Gain An Endowment Plan Lifetime Care Whole Life Plan Child Gain Children's Policy Protector A Mortgage Reducing Term Insurance Plan CashGain Money Back Plan Keyman Insurance A good Business Opportunity Swarna Vishranti Unique Retirement Plan New UnitGain Plus Unit Link plan with higher allocation Mahila Gain Rider The unique plan that takes care of you and your loved ones. New UnitGain Easy Pension Plus A Plan that enables you to retire without worries Swarna Raksha I This plan provids you with regular income

Questionnaires: 1. Do you make use of Insurance Companies? a. b. c. 2. Yes, I use different Insurance programs Yes, if I need Dont use

Which Insurance program do you consider as the most important? a. b. c. d. Life Insurance Property Insurance Motor Insurance Medical Insurance

3.

How often do Insurance cases happen? a. b. c. More than once a year Once a year Have never happened

4.

Can you recommend your Insurance Company to your friends? a. b. c. Yes, I can No I dont know

5.

What part of your income do Insurance expenses take? a. b. c. d. More than 10% From 7% to 10% From 4% to 7% Less than 3%

6.

What source of information is the most important for you when you choose Insurance Company? a. b. c. Advertisement Friends Advices Rating of Insurance Companies

7.

Do you have your personal Insurance Agent? a. b. c. Yes, we have been working together for many tears Yes, but I cant rely upon him/her No, I havent

8.

How high can you appreciate the work of your Insurance Company? a.
b.

Very high
High

a. b. 1.

Not bad Bad

How long do you use Insurance Service? a. b. c. d. More than 10 years From 5 years till 10 years From 3 years till 5 years Less than 3 years

2.

How long does your Insurance Company recover losses from the moment of Insurance Case? a. b. c. d. More than 30 days From 20 days till 30 days From 10 days till 20 days Less than 10 days

1)

usage of insurance companies

14 12 10 8 6 4 2 0 Yes, I use different Insurance programs Yes, if I need Dont use usage of insurance companies

2)

Most imoprtance insurance

14 12

10
8 6 4 2 0 Most imoprtance insurance

Life Insurance

Property Insurance

Motor Insurance

Medical Insurance

3)

often do Insurance cases happen

16 14 12 10 8 6 4 2 0 More than once a year Once a year Have never happened often do Insurance cases happen

4)

recommend to friends
18 16 14

12
10 8 6 4 2 0 Yes, I can No I dont know recommend to friends

5)

Insurance expenses from income

12 10 8

6
4 2 0 More than 10% From 7% to 10% From 4% to 7% Less than 3% Insurance expenses from income

6)

time to recover loss

25 20 15 10 5 0 More than 30 days From 20 days till 30 days time to recover loss

7)

personal Insurance Agent

14 12 10 8 6 personal Insurance Agent 4 2 0 Yes, we have been working together for many tears Yes, but I cant rely upon him/her No, I havent

8)

perception about the company

25 20 15 10 5 0 very high high very bad bad perception about the company

9)

time period of using

18 16 14 12 10 8 6 4 2 0 More than 10 years From 5 years till 10 years From 3 years till 5 years Less than 3 years

time period

10)

time to recover loss

25 20 15 10 5 0 More than 30 days From 20 days till 30 days From 10 days till 20 days Less than 10 days time to recover loss

FINDINGS: