DISSERTATION REPORT

ON

“CONSUMER BEHAVIOR TOWARDS BIRLA SUNLIFE INSURANCE LIMITED”

In Partial Fulfillment for the Requirement Of The Degree

Of

MASTER OF BUSINESS ADMINISTRATION

UTTRANCHAL INSTITUTE OF MANAGEMENT

AFFLIATED TO

UTTRAKHAND TECHNICAL UNIVERSITY

(Batch 2008-2010)

Submitted to: Submitted by

PREFACE

Summer training is a part of MBA curriculum, which a student has to undertake after the

completion of IInd semester.

This project is based on identification of training needs.

Firstly it contains the overall introduction of ADITYA BIRLA GROUP , the various

activities undertaken by it and finally about its new opening as BIRLA SUN LIFE

INSURANCE LTD.

Eventually, it will discuss the sources from where the information has been gathered.

CERTIFICATE

I have the pleasure in certifying that Mr. Neeraj Kumar is a bonafide student of

MBA III semester of the Master’s Degree in Business Administration of

Uttaranchal Institute of Management, Dehradun under Class ID No. 89MB0088

He / She have completed his/her Summer Training Project work entitled “CONSUMER BEHAVIOR TOWARDS BIRLA SUNLIFE INSURANCE LIMITED” under my guidance.

I certify that this is his/her original effort and has not been copied from any

other source. This project has also not been submitted in any other university for

the purpose of award of nay degree.

This project fulfills the requirement of the curriculum prescribed by

Uttarakhand Technical University, Dehradun for the said course.

Signature: …………………………………

Name of the Guide: MRS. TWEENA PANDAY

CONTENTS

1. Introduction

2. Objective of the study

3. Review of Literature

4. Research Methodology(a) Sample Size(b) Method of Sampling(c) Area of work(d) Parameters of study(e) Method of Data collection(f) Tools(g) Limitations

5. Analysis & Findings

6. Recommendations

7. Conclusions

8. Bibliography

DECLARATION

This project has been undertaken during the summer break as a summer trainee,

after the completion of the second semester under the guidance of Mr.

………………………………………

………………………………………...

Further I would like to declare that this project is my original work and has been

prepared solely for academic purpose.

This project has not been presented in any seminar or submitted elsewhere for the

award of any degree or diploma.

ACKNOWLEDGEMENT

Behind every study there stands myriad of people whose help and contribution

make it successful.

It has been a remarkable experience of satisfaction and pleasure for me to work out

my project under the supervision..of..the....................................................................

I am really thankful to him for his valuable guidance and co-operation during the

project work.

I had also benefited from discussions and would also take the opportunity to thank

the persons of the company for their valuable support and assistance whenever and

wherever needed. A cordial and encouraging environment made it very easier for

me to complete the project.So this acknowledgement is a humble attempt to

earnestly thank him and all those who were directly or indirectly involved in

preparation of this project.

INTRODUCTION

TypePublic

Founded1945

Headquarters INDIA

Key peopleMr. Kumar Mangalam Birla (Chairman), Mr. Sanjeev Aga (Managing Director)

Industry

Hindalco Industries Ltd.Birla Copper Birla CementAditya Birla Nuvo Ltd.Grasim Industries Ltd. Information Technology Sector Indo GulfTelecom ( Idea )Essel Mining & Industries Ltd.Aditya Birla InsulatorsBirla Sunlife Insurance Company

Products

MUTUAL FUNDS

LIFE INSURANCE GENERAL INSURANCE

Employees1,30,000

Website http://www.adityabirla.com/

SUNLIFE A PART OF ADITYA BIRLA GROUP

Adiya Birla Group is a league of Fortune 500 and having 1,30,000 employees belong to 30 different Nationalities serving in 20 different countries.

In India the group has been adjudged “THE BEST EMPLOYER IN INDIA & AMONG THE TOP 20 IN ASIA” by Hewitt Economics Times and Wall Street Journal Study 2007.

Idea Cellular is part of the Aditya Birla Group, which is India's first truly multinational corporation. Global in vision, rooted in Indian values, the group is driven by a performance ethic pegged on value creation for its multiple stakeholders.

Being a part of ADITYA BIRLA GROUP and under the Chairmanship of Mr. KUMAR MANGALAM BIRLA. & the first one to win GSM Association Award for Bill flash. SUNLIFE’S footprints currently cover over approximately 45% of India’s population & over 50% of potential INSURANCE-market

COMPANY PROFILE

Birla Sun Life Asset Management Company Ltd. (BSLAMC), the investment managers of Birla Sun Life Mutual Fund, is a joint venture between the Aditya Birla Group and the Sun Life Financial Services Inc. of Canada. The joint venture brings together the Aditya Birla Group's experience in the Indian market and Sun Life's global experience.

Established in 1994, Birla Sun Life Mutual fund has emerged as one of India's leading flagships of Mutual Funds business managing assets of a large investor base. Our solutions offer a range of investment options, including diversified and sector specific equity schemes, fund of fund schemes, hybrid and monthly income funds, a wide range of debt and treasury products and offshore funds.

Birla Sun Life Asset Management Company has one of the largest team of research analysts in the industry, dedicated to tracking down the best companies to invest in.

The Aditya Birla Group

The Aditya Birla Group is one of India's largest business houses. Global in vision, rooted in Indian values, the Group is driven by a performance ethic pegged on value creation for its multiple stakeholders.The Group's operations span 66 state of the art, straddling India, Thailand, Malaysia, Indonesia, Egypt, Philippines, Canada, Australia and China.

A US $28 billion corporation with a market cap. of US $31.5 billion and in the League of Fortune 500, the Aditya Birla Group is anchored by an extraordinary force of 100,000 employees, belonging to 25 different nationalities. Over 50 per cent of its revenues flow from its operations across the world.

The Aditya Birla Group is a dominant player in all its areas of operations viz; Aluminium, Copper, Cement, Viscose Staple Fibre, Carbon Black, Viscose Filament Yarn, Fertilisers, Insulators, Sponge Iron, Chemicals, Branded Apparels, Insurance, Mutual Funds, Software and Telecom. The Group has strategic joint ventures with global majors such as Sun Life (Canada), AT&T (USA), the Tata Group and NGK Insulators (Japan) .

Sun Life Financial

Sun Life Financial is a leading international financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. Chartered in 1865, Sun Life Financial and its partners today have operations in key markets worldwide, including Canada, the United States, the United Kingdom, Hong Kong, the Philippines, Japan, Indonesia, India, China and Bermuda. 

MISSION STATEMENT

Chairman (Aditya Birla Group)

BOARD OF DIRECTORS

Mr. Ajay SrinivasanChief Executive – Financial Services Aditya Birla Group

Mr. Srinivasan holds a Bachelor of Arts degree with Honours in Economics from St. Stephens College, University of Delhi and an MBA from the Indian Institute of Management, Ahmedabad. He is the Chief Executive, Financial Services and Director, Corporate Strategy and Business Development at the Aditya Birla Group since July 2007. In his role as Chief Executive, Financial Services, Aditya Birla Group, he sets the strategic direction and vision and provides operational leadership for the Group’s Financial Services business. In his role as Director, Corporate Strategy and Business Development, he directs and strategies on business portfolio issues for the Aditya Birla Group focusing on the long-term sustainability, profitability and value creation of the Group’s businesses. Prior to joining the Aditya Birla Group, Mr. Ajay Srinivasan was associated with Prudential Corporation Asia, Threadneedle Asset Management, etc. at senior levels. With a proven track record for building successful businesses, his experience in the financial services industry spans almost two decades.

Mr. Bishwanath PuranmalkaDirector – Financial Services Aditya Birla Group

 

Mr. Puranmalka is a commerce and law graduate and also a Fellow member of the Institute of Chartered Accountants of India and Institute of Company Secretaries of India.  He is the Director of Aditya Birla Group Financial Services and has a total working experience of more than 45 years.  He has been associated with the Aditya Birla Group in various capacities since the inception of his career.

He has a rich experience in implementation and running of several manufacturing, training, service industry business and setting up Greenfield manufacturing operations.  He is on the Board of various companies.

Mr. Donald StewartChief Executive Officer Sun Life Financial

 

Mr. Donald A. Stewart graduated from the University of Glasgow in 1968 with

first class honours in Natural Philosophy. He joined Sun Life Financial in 1969 in London, England, and qualified as a Fellow of the Institute of Actuaries in 1972. In 1974, he left the Company to pursue a career in benefits consulting, ultimately joining William M. Mercer in Toronto.

Mr. Stewart rejoined Sun Life Financial in 1980 with overall responsibility for the Canadian pension division, where he led six years of rapid growth. In 1986, Mr. Stewart led the project team to launch the Company’s Canadian mutual fund operation. From 1987 to 1992, Mr. Stewart held overall responsibility for information Technology at Sun Life Financial. During this period, he completed the Advanced Management Program at Harvard Business School.

As Chief Executive Officer of Sun Life Financial’s trust operations from 1992 through 1995, Mr. Stewart restored profitability via re-structuring and re-engineering. In May 1995, Mr. Stewart was appointed Senior Vice–President & Chief Actuary. His appointment as President & Chief Operating Officer followed in 1996.

Mr. Stewart was appointed Chief Executive Officer of the Company in April 1998. Then, in March 2000, he led the demutualization of Sun Life Assurance Company of Canada with the successful IPO of Sun Life Financial on the Toronto, New York and Philippine stock exchanges.

He is a member of the Board of MFS Investment Management and Sun Life Assurance Company of Canada (U.S.)

Mr. Venkatesh MysoreCountry Head “ India Sun Life Financial, Asia

 

Mr. Mysore holds a BA with Honours in Economics and an MBA from University of Madras. He also holds the professional designation of Chartered Life Underwriter (CLU) – American College, Philadelphia, PA. He is the Vice-President and Country Head, India of Sun Life Financial-Asia since January, 2007. 

Prior to this, Mr. Mysore was the CEO & Managing Director of MetLife India. He was responsible for the start-up of the India venture. Mr. Mysore spent over 21 years with MetLife.  He immigrated to the U.S.A. in 1985 and joined MetLife as a sales representative.  Since then, he held several positions of increasing responsibility within MetLife.

Mr. Mysore was the Chairman of The American Chamber of Commerce (AMCHAM) – Bangalore Chapter for the year 2002 – 2003.  Several new members were inducted during his tenure. The AMCHAM invitational Golf Tournament was one of the many well-appreciated events rolled-out under his leadership. Other noteworthy contributions included arranging interactive sessions with key industry leaders and academicians as well as community and socialdrives.

Mr. Gian Gupta 

Mr. Gupta holds a Masters in Commerce from University of Delhi. He is a director on the Board of the Company and is the independent director on the Board of Aditya Birla Nuvo Limited (holding company of BSLI).  He is also a member of the Audit Committee, Finance Committee and Share Allotment Committee of the Company.

Mr. Gian Prakash Gupta has been the former Chairman and Managing Director of Industrial Development Bank of India & Chairman of Unit Trust of India. He has wide and rich experience in Project Financing including Infrastructure projects, Capital Market, Financial Management and General Management. He is on the Board of various companies.

Awards

At Birla Sun Life Insurance, winning is a way of life. Our innovative solutions and customer-friendly services have been admired, appreciated and rewarded by customers and the industry at large.

TEAM WORK

Senior Management 

Mr. A. Balasubramanian - Chief Executive Officer

 Mr. Balasubramanian is the Chief Executive Officer for Birla Sun Life Mutual Fund. He has been with BSLAMC since its inception.

He has more than 17 years of experience in the Capital Market. He joined BSLAMC as Chief Dealer/Trader, managed Hybrid Funds and moved on to Head Fixed Income group. He has also held the position of Country Head for Sales and Distribution before becoming the Chief Investment Officer

and now also heading BSLAMC as the Chief Executive Officer.

During the last several years, under his leadership, Birla Sun Life Mutual Fund haswon several awards for delivering the best performance from external agencies such as CRISIL TV18, BNP Paribas, ICRA and Reuter Lipper. In the financial year 2008-09 with him as the CIO, BSLAMC won the coveted “Mutual Fund House of the Year†� second time in a row becoming the only fund house in India to achieve this feat as also being adjudged the best “Onshore Fund House-Indiaâ€by the Asian Investor magazine.

Prior to joining BSLAMC, he has worked with GIC Mutual Fund as Senior Trader and Canbank Financial Services as Senior Executive.

He has also been associated with Association of Mutual Funds of India as various committee members viz. Valuation Committee. He also has been part of SEBI Committee on Review of Eligibility Norms.

He has delivered guest lectures at SIES, Mumbai, IIM Bangalore for Executive Education Programme, Dalmia Institute of Management and Narsee Monjee Institute of Management.

Mr. Balasubramanian has done DFM and AMP from IIM Bangalore in addition to Bsc in Mathematics. 

 

Mr. Kalpen Parekh - Co-head, Retail Sales 

MMS (Finance), BE Chemical

Has over 9 years of experience in Retail Sales & Distribution. Prior to joining BSLAMC worked with ICICI Prudential Asset Management Company Ltd. as Jt-head Retail Sales & Distribution. He also worked with L&T Finance Limited as Dealer (Money Markets).

 

 

Mr. Navin Tewari - Co-head, Retail Sales 

C.A., B.Com

Has over 12 years of experience in Retail Sales & Distribution. Prior to joining BSLAMC worked with ICICI Prudential Asset Management Company Ltd. as Jt-head Retail Sales & Distribution. He also worked with Aviva Life Insurance Co. (I) Ltd. and Birla Sun Life Distribution Ltd.

 

 Mr. Sarb Preet Singh - Vice President – Institutional Sales

B. Com., M.M.M.

Has over 14 years of experience. He has been promoted from position of Asst. Vice President – Sales Head (North Zone). Prior to this he held various positions in Sales function of Birla Sun Life Asset Management Company.

 

 Mr. Rahul Parikh - Head – Business Development 

B.E (Production), MMS (Marketing)Prior to joining Birla Sun Life Asset Management Company, worked with ICICI Prudential Asset Management Company in various capacities as Head – Banking and Distribution, Strategy and Business Development, Sr. Manager – Business Development and business support and Manager – Retail Sales and Distribution. He has also worked with Tata Motors and Larsen & Toubro.

 

 

Mr. Ashok Suvarna - Chief Operations Officer 

MBA (Finance), B. Com

Has over 15 years of experience in Mutual Fund Operations. Prior to joining Birla Sun Life Asset Management Company worked with ICICI Prudential AMC Ltd as Head- Operations. He also worked with SBI Funds Management Limited handling Operations.

 

 

Ms. Molly Kapoor - Head- Customer Service 

M.A. (Economics), PGDBM- NMIMS, Mumbai

She has over 11 yrs of work experience in Service & Operations. Out of which 9 yrs in MF industry. Prior to joining BSLAMC, was at ICICI Prudential Asset Management Company as AVP- Customer Service. Prior to that, she has also worked with Karvy Consultancy for BSLAMC.

 

 

Mr. Bhavdeep Bhatt - Head – Products 

B.com, MBA (Finance)

Has over 12 years of experience. Prior to joining Birla Sun Life Asset Management Company worked with ICICI Prudential AMC Ltd as Head Products and communication. He has also worked with Kotak Mahindra AMC Ltd and Kiran Motors Ltd.

 

 

Mr. Sanjay Singal - Chief Marketing Officer 

B. Sc., MBA

Mr. Sanjay, prior to joining Birla Sun life Asset Management Company, has worked with GE Money Financial Services Ltd as the Chief Marketing Officer and Head of E-Business and Pricing. He has also previously worked with Yum Restaurants International Limited as the Senior Marketing Manager and with Unilever Asia in various capacities including Regional Group Innovation Manager – Dove Skin, Asia (based in

Thailand), Senior Brand Manager (Fair & Lovely), Customer & Channel Manager (Personal Products) and National Sales Manager. 

  

 Mr. Chandrashekhar Chavan - Head - HR & Administration 

Masters in Personnel Management & Industrial Relations

Work experience of approx. 12 years includes assignments with Hindalco-Business HR and Corporate HR of the Aditya Birla Group. Also includes prior experience with Wipro BT.

 

 

PHILOSOPHY

 

Birla Sun Life Asset Management Company follows a long-term, fundamental

research based approach to investment. The approach is to identify companies,

which have excellent growth prospects and strong fundamentals. The fundamentals

include the quality of the company’s management, sustainability of its business

model and its competitive position, amongst other factors. 

VISION

To be a leader and role model in a broad based and integrated financial services business.

 MISSION

 To consistently pursue investor's wealth optimization by:

 Achieving superior and consistent investment results.

Creating a conducive environment to hone and retain talent.

Providing customer delight.

Institutionalizing system-approach in all aspects of functioning.

Upholding highest standards of ethical values at all times.

 

VALUES 

Integrity

Commitment

Passion

Seamlessness

Speed

OUR SERVICES

The services provided by the religare securities:

1. Equity trading:-a. Account opening

b. Online/Offline trading

c. Research

2. Commodity trading:-a. Account opening

b. Online/Offline trading

c. Research

3. Depository services :-a. Account opening

b. Demat

c. Delivery instruction slip processing

d. Pledge / Hypothecation instruction processing

e. Provided holding statement /Transaction statement

4. Distribution of mutual fund

5. Distribution of insurance

6. I.P.O distribution

7. Portfolio management services

8. Investment Banking

SWOT ANALYSIS

STRENGTH:

IT IS A ADITYA BIRLA GROUP COMPANY

Environmental Scan

/ \

Internal Analysis

External Analysis

/ \ / \

Strengths Weakness

es

Opportunities Thr

eats

|

SWOT Matrix

DIVERSE PORTFOLIO AND LOTS OF PRODUCTS UNDER ONE ROOF

ATTRACTIVE BRAND

NO MAINTENANCE CHARGES

WEAKNESS:

NON PERFORMING WEBSITE AS REPORTED BY CUSTOMERS

CUSTOMER CARE CELL PERFORMANCE IS NON SATISFACTORY IN NATURE

NO PROPER ADVERTISEMENT OF THE COMPANY WHERE MAXIMUM CUSTOMERS DON’T KNOW ABOUT IT

OPPORTUNITY:

IN UPCOMING DAYS RELIGARE IS COMING WITH THEIR OWN BANKING POLICIES

THREATS:

AS THEY HAVE CHANGED THEIR NAME THE CUSTOMERS STILL DON’T KNOW ABOUT IT. THIS MAY CAUSE THE LOSS OF SOME POTENTIAL CUSTOMERS

OBJECTIVE

The objective behind the study shows the importance of the study. It further clarifies the reason as to why the study is been undertaken. Every study has certain objectives for which it is undertaken. These frame the basis of the study and they show the cause of the study. The objectives of the study are given below

THE MAIN OBJECTIVE IS TO SELL THE PRODUCT WORTH RS.10, 000.

TO LEARN AND TO DEVELOP THE INTERPERSONAL SKILL IN TERMS OF CORPORATE CULTURE.

TO STUDY THE CONSUMER BUYING BEHAVIOR TOWARDS THE BIRLA SUN LIFE INSURSNC

ACHIVEMENTS

Week no1

We were able to understand the functions of Marketing which gave me a lot of

satisfaction as it is my specialization I was able to grasp a lot.

Week no 2:-

In the second week we were able to understand the daily, monthly and annual

duties performed by employees of the organization.

Week no3:-

We were taught about the marketing techniques and to analysis the share market

from the information that was published in the newspaper that would help in

convening the customer in buying the product.

Week no.4:-

We were made to learn the importance of timely communication with the customer

and as well with the relationship manager.

Week no 5:-

We understood the importance of training and told about the preparation of daily

sales report that would help us in maintaining the follow up for the future so that

we may reach the customer on time without any delay.

Week no. 6:-

We learnt the concept of marketing and the techniques that would help us to attract

the customer and what all thing that are to be told to them and what all thing that

are not to be told to customer.

Week no. 7 &8:-

I come to know about the consumer behavior towards the BIRLA SUN LIFE INSURANCE THROUGH A SURVEY.

FIRM NAME ADDRESS PHONE NO.Bharat sports co. GMS road 9358037555Mehak family restaurant Sharanpur road 9897055578The Finesse institute Astley hall 0135-2650903Ample consultant Cannaught place 9837046728Reliance communication Nehru colony 9358100142Hotel Pathik Bengali library road 9831602608Ginger n Garlic Rajpur road 0135-2655773Amritsar eye clinic Municipal road 0135-2650585Style check Rajpur road 0135-2742999Cadd center Subhash road 9335226125Creation placement Raj plaza 9412992371Doon institute of English language Near telephone exchange 0135-2714734AHA Institute Rajpur road 3205085Om care system Rajpur road 9897744040Rank trading Rajpur road 9837003032Hawk security Raj plaza 9837473298Aggarwal packers and movers Indra nagar 9319664321Jai shree balaji packers Transport nagar 9359813040Homecare packers and movers Transport nagar 9319924354George institute Nimbu wala 0135-2623555Academy of broardcasting Subhash nagar 9319422856Lakshayrajpur road Subhash road 9412055897Rajdhani electronics Papal mandi 0135-2621822Mahar Rajpur 983704647Janasheen Rajpur road 9719617918Himalayans gardens Rajpur road 9358125742Institute of accounting&technorajp[logySatya complex 9411527237Doon institute of English language Rajpimalaya public schoolur road0135-2714734Saraswati institute of accounts Subhash road 9719114520Anupamma agencies Nehru colony 9837084150Om care system Meedo aecade 9897744040Himalaya public school Ghari cantt 0135-2720362Make over finishing school E.C road 3259000S.R enterprise Raj plaza 9412992986Hotel Maggi star Rajpur road 9761679842Sushil department store Paltan bazaar 0135-2655976The ayurvedic shop Dhamawala 9412057959Osho resort Rajpur road 0135-2749522

DTDC courier services Jakhan 9897026441Zed security Ajabpur 9719109578Wasu enterprises Ballupur 0135-2726583Sky marketing Mohebewala 0135-2644354Hotel Gaurab Gandhi road 0135-2654215Hotel Pacific Subhash road 9319072032Hotel Aketa Rajpur road 0135-2744302Reliance Communication Cannaught palace 9358444777Hotel Great value Rajpur road 941138836Hotel Lalit palace Kishan nagar 0135-2755313Nautiyal marbels Niranjanpur 9412058741Akash institute Rajpur road 3298168Rajdhani emporium Chakrata road 9412054311Vega Rajpur road 0135-2740201Aim investment consultant Tilak road 9897248296Walia jewellers Paltan bazar 9897131212Tycoon showroom Rajpur road 0135-2743900Big master GMS road 9897411277Hotel Ashrey Tyagi road 9358101133Frontier electronics New market 0135-2655405Rohan motors Yamuna colony 9897461313Agarwal furniture Patel nagar 0135-26543422Comfort tours and travels Clock tower 9837014385Shree balaji assosiates Suthowalaa 9897211645Amazon institute of hotel managment Sehastrdhara road 9412967633Baba farid institute Mathura wala 9412967633Institute of education Ghari cant 921967633Dolphin institute Premnagar 9219604549Hotel Viceroy inn Niranjan pur 9412054742Hotel Atithi Tyagi road 0135-2627246Shree balaji telecom Capri trade center 9837765773Pal merchants Press road 0135-2743211Hotel Kamal palace GMS road 0135-2720596Hotel Deepshika Rajpur road 0135-2659888Computer mall Capri trade center 9219698384Rajdhani furniture Moti bajar 329063714Hotel Sangam Tyagi road 0135-2725336Hotel president Astley hall 9837356294Hotel moti mahal Rajpur road 0135-2657307

Black pepper Astley hall 989778802Hcl compound Patel nagar 9927555555Sky academy Rajpur road 9259175274All India institute of Aeronautics Kishan nagar 9837771784Navyug college of education Chakrata road 9897337536Vlcc health care Rajpur road 0135-2743021Kaveri jewellers Dhamawala 9358111740Sai instrumentation Araghar 9837023957Hindustan sports Paltan bazar 0135-2650315K7 resort Premnagar 9412051020BPL enterprises Chakrata road 0135-2714749Sai Institute of education Rajpur road 9412009850Doon college of education Rajpur road 9412007140Vishal assosiates Mohebewala 9897106221Baluni classes Dharampur 9837202057Pryas IAS acadmy Nehru colony 3292261Smartech services Clock tower 9412055317Prakash enterprises Tagore villa 0135-2711960Mehul enterprises Tagore villa 9897168902Doon fan traders Paltan bazar 0135-2712273Amar builders Cannaught palace 9837001826Saft school of art and fashion Subhash road 9358121660DCMTE Institute Subhash road 9412955529Amar sons Rajpur road 0135-2657811SRM Infotech Rajpur road 9917066655Fun valley Rajpur road 9219657499Doon kitchen Patel nagar 9259284440Oberoy motors Majra 9837014255Sanage Friends plaza 9412004169Amrit eyeclinic EC road 0135-2650585Hotel Park view Rajpur road 0135-2653231ACCESS computers Kanwali road 9412050684Doon scientific instrument Tilak road 9837170482Virendra & co. Astley hall 0135-2653791British institute of engeneering Kalidas road 9412075419Institute of pharama management. Capri trade center 9837046154Sagar institute Rajpur road 9319258240Ganpati jewelers Clock tower 9319234872Narayana IIT academy Rajpur road 6451183

Blue mountain college Shastrdhara road 3094887IAHT academy Rajpur road 9997844272Doon west electronics GMS road 9219607787Samiksha enterprises Nehru colony 9412052988Balaji pest control Neshvila road 0135-2652232IAS academy Race course 939603998Chip infonet Capri trade center 0153-2622585Signature solutions Rajpur road 9897336539Times world school Indra nagar 9219516838Sagar institute of education Rajpur road 9319258240Center furniture Niranjanpur 9319495671Landmark foundation Vasant vihar 9412348560Aviation academy Karanpur 9412989643Maurya group of education Subhashroaad 9719433024Eureka forbes Astley hall 9837849510FCI institute Rajpur road 9412051828Muthoot finance Doon plaza 9837591013Forber modular kitchen Dwarika store 9358101077Share khan Haridwar road 9897033996Polaris academy Chakrata road 9837654292Shiva fitness point Racecourse 9219619998Horizon computers Meedo plaza 9837072729Human touch Niranjanpur road 0135-2721392Senso hearing center Rajpur road 0135-2654276Gyani Indersingh Institute Rajpur road 3293048

STRATEGY

My strategy for achieving the target they are follows given below.

The first strategy is cold calling. To meet the customer and try to know the need of

the customer, give the knowledge about our product, If the customer is interested

to listening then we are going to forward. And try to take some references from the

customer.

Second strategy is telephone calling. Talk to the customer and try to convince for taking our insurance plan, dmat a/c, commodity a/c, sip and etc. To achieve any target, an individual should do a proper planning & according to the plan, I should make . As BIRLA SUN LIFE INSURANCE limited is a reputed company, But we do not have been provided any data, so firstly I use my references to sell the insurance policy & dmat a/c of the company. As I have My references, so firstly I decided to go to my relative & friends explain them about my company & its policy & convince them for product. From my references I got 1 insurance policy

& I ask them for more references & their contact no. I also went to the customer

directly and tell them about the plans of the company but they refuse me by giving many excuses.

Pre-approach: before approaching the customers we should have knowledge

about the products.

To make direct interaction with customers & make them aware about the

products & services offered.

To make a comparative study to know the competitiveness of our product in

the market.

Cold calling to customers on random basis.

Identifying the needs of customers.

PROCESS

Cold calling to prospects on random basis.

Fixing the appointments.

Follow up the interested prospects

Identifying the needs of customers.

MARKETING PROCESS

Marketing department’s core role is to be a brand custodian so that subscribers as well as the prospective users of Idea build a relationship with the company they deal with. Brand identity created and nurtured by marketing.

Marketing also plays a role of identifying emerging business opportunity in a competitive/regulatory context, as well as based on the technology innovations taking place.

It is Revenue enhancement, Acquisition shares, Shared role in churn reduction & creating and maintaining brand image such that it continues to be relevant to the target audience.

Enterprise Business Unit: Insurance Business I broadly divided into Corporate and Individual customers. Corporate essentially means organizations with large manpower base and high communication spend. This gives us the opportunity to focus on acquiring quality customer in bulk and gain higher revenue.

The new emerging segment is SME (Small & Medium Enterprises), which hold tremendous opportunity to increase our revenue and quantity subscriber due to the size of the segment.

Channel Management:

The objective of Channel Management is to make Sunlife insurance distribution network a source of sustainable competitive advantage for the company.

Towards this objective, Channel Management would primarily be responsible for:

1. Grow acquisitions through implementing best in class processes and developing new channels

2. Reduce cost of acquisition and servicing through improved channel productivity and use of MIS.

3. Creating a positive customer experience at each of the touch points.4. Support in brand building through point of sale visibility

Mr. Sanjay Singal - Chief Marketing Officer

 

B. Sc., MBA

Mr. Sanjay, prior to joining Birla Sun life Asset Management Company, has worked with GE Money Financial Services Ltd as the Chief Marketing Officer and Head of E-Business and Pricing. He has also previously worked with Yum Restaurants International Limited as the Senior Marketing Manager and with Unilever Asia in various capacities including Regional Group Innovation Manager – Dove Skin, Asia (based in

Thailand), Senior Brand Manager (Fair & Lovely), Customer & Channel Manager (Personal Products) and National Sales Manager.

HUMAN RESOURCES

HR function Birla Sunlife Insurance consists of four dept namely,

1. Human Resource Operations2. Management Development3. Facilities Management4. Total Quality Management

FUNCTIONS OF HUMAN RESOURCE DEPARTMENT:

1. HR looks after Recruitment, Interviews and Selection, Manpower Planning.

2. The Hr team is responsible for performance-management, compensation benchmarking,Taxability,Payroll management, Reward & recognition, and HR policies and processes.

3. Hr is primarily responsible for Organsation structure design ,Employee satisfaction surveys,Budgets,HR MIS ,OD Interventions,Job Evaluation,and performance appraisal.

FINANCE

BSLI

HR POLICIES

The finance department is responsible primarily for the proper financial management of the company.

The essential function of a typical finance department can be categorized into two broad functional categories.

1) Recurring Finance Functions

Performing the regular finance functions that include financial planning including assessing the funds requirement, identifying and sourcing funds, allocation of the funds and income and controlling the use or utilization of funds towards achieving the primary goal of profit/wealth maximization.

2) Non-Recurring Finance Functions

Performing the non-recurring functions include, though not exclusively, the preparation of financial plan at the time of promotion of the business enterprise, financial readjustment during liquidity crisis, valuation of enterprise at the of merger or reorganization and such other episodic activities of great financial implications.

ANALYSIS.OF.PERFORMANCE

Vs.

TARGET.REASON FOR VARIANCE

Our SIP started on 24th March we got training for thirteen days and from

1st of June we started our job work.

In the month of April I was given the target to generate premium of worth

Rs 30000 in a week, but it is very shame to say that I could not even sell a

single policy but during that time I thorough studied the products and made

cold calling, after that I generated one dmat & two genral insurance policy

worth Rs 28,000 in the month.

In the month of May premium of 1,20000 was to be generated but I could

sell policy worth Rs 68,000 only.

In the month of June premium of 1,20000 was to be generated but I could

sell policy worth Rs 60,000 only.

Reason was, I was new in the market , people did not trust quickly and lack

of convenience.

RESEARCH METHODOLOGY

STUDY

The present investigation is a descriptive type of study undertaken to estimate

the comparative study pension plan of, BIRLA SUN LIFE, BAJAJ ALLIANZ, LIC. HDFC

SLIC.

SAMPLE SIZE

For the purpose of analysis a sample size of different companies were selected.

The sample size taken was 4.

SAMPLING METHOD

The sampling method used for the project was “Random Sampling”. This type of

sampling is also known as probability sampling where each and every item in the

population has an equal chance of inclusion in the sample and each one of the

possible samples. This procedure gives each item an equal probability of being

selected.

DATA COLLECTION

SECONDARY DATA

The secondary data was collected by referring through web sites, and the final

data was analyzed systematically to achieve the desired result.

DATA ANALYSIS AND INTERPRETATION

After analyzing the data above in the table we came to the following

interpretation. Interpretation has been done on the basis of the features

mentioned in the table.

1. AGE AND TERM OF POLICY : Since the minimum age is minimum in BAJAJ ALLIANZ and the term depends on the customer. The customer has probability of getting the maximum returns (all other things being equal). And Birla Sun Life is offering investment for maximum 30 years which is rated as second best in this feature.

2. SWITHCHES : After analyzing the feature the conclusion drawn is that Birla Sun Life is offering the most switches in the year.

3. CHARGES : The charges levied on the policy of the insurer is lowest in Birla Sun Life SLIC like FMC, PAC, but initial charge is second lowest which is also not bad in terms of investment.

4. WITHDRAWALS : Withdrawals not allowed in BIRLA SUN LIFE because if withdrawals are there plan would not yield good return.

5. INVESTMENT OPTIONS : Birla Sun Life provides you the maximum funds for investment (Balanced fund, Defensive Managed fund, Safe

Managed fund, Liquid fund & Growth fund). So Birla Sun Life provides you better portfolio to diversify your funds which reduces the risk and maximizes the return.

6. TOP UP : In Birla Sun Life the minimum top up is of RS 5000 with no charges levied but in others it is Rs 10000. Here we could see that people with low income can increase the premium with small amount.

7. BONUS UNIT : Only two firms are offering bonus unit to the customer and they are Birla Sun Life and LIC.

8. FLEXIBLE CONTRIBUTION : This feature is available in Birla Sun Life where a customer can increase or decrease its premium, but only Bajaj Allianz is offering an increase option only.

RECOMMENDATIONS

1. Premium allocation charge (initial charge) should be reduced to provide

customer with better return.

2. Policy administration charge should be reduced to gain more advantage in

the market.

3. Surrender charges should be reduced.

LIMITATION

Some limitations are as follows:

Difficult in convincing people for investment.

Difficult to change mind of the investor according to age and profession.

Difficult to make an approach to investors.

Difficult to take an appointment with professional people.

Difficult to get the documents required for formalities from investors

Difficult to overcome an impassionate person who wants maximum return

in less time.

Difficult to follow up the people whose names are being stored in a data.

Difficult to remove the fear of risk from the minds of investors.

Lack of awareness of share market.

Time being a major constraint.

Customer base is decreased because of wrong phone numbers and numbers

with no reply.

Since the share market has grown to an all time high the people have second

thoughts for investing in ULIP PLAN and prefer investing in other safer

and fixed return deposits such as FDs and government bonds.

LEARNINGS

Punctuality and hard work is key to success.

Positive attitude and strong confidence needed

..

How to behave in corporate world and follow the rule and regulation formed

by company is important to sustain

How to handle the customers and their queries.

How to convince the customers and how to generate need in them.

Be honest and committed towards work and well disciplined is required to get success.

AWARDS

Awards, incentives and stipend are the most important to get motivated

towards the work so that more and more productivity can be achieved.

As far as awards is concerned I have not been the outmost performer of the

company, but whatever backup an positive motivational support I have got was not

less than awards because when I took my first step into the company I was

completely nervous and thought that how I will generate that much of business to

the company but thanks to all the senior employ for encouragement.

I did not get any stipend except incentives, but I can say that monetary awards is

not so important than positive reinforcement and learning what I got from them

was more than just any monetary awards for me.

CONCLUSION

The project started with the commencement of the SIP at Birla Sunlife Insurance Ltd. Dehradun branch on 24th march 2009. The experience so far is full of learning not only in terms of the Products but also in terms of Consumer Behaviour, Consumer Response, Consumer Buying Pattern, Corporate Culture, Corporate Ethics and Corporate Working. The span of three months so far has developed and enhanced the skill of Selling and Generating Business (corporate jargon) in me. The part of our work in the company is:

a. Selling Various Products of Religare

b. And to know the Effect of Recession on the Investment Planning of the Customer.

To my view, securities sector is vast and lot of opportunities and competition is

there. but People are not aware of companies’ products as well company specially

in ruler areas, I would like to say that some ad campaign should be held and some

innovative policy launched according to their need and income because risk is

very high. If we talk about market, it has lot of potential particularly in Dehradun

but they have already invested in the month of February and march to save tax, so

company need to convey the message about future security. Second thing customer

does not believe easily. so company should create trust and objectivity among

customer and it can be created by combining the things like prompt service, quality

of advice, appropriate products that suit needs, transparency, promises delivered

and effective follow up. other hand objectivity is driven from a culture of respect,

fairness, honesty and primacy of customers’ interest.

Ultimately I would like to conclude that company ought to treat customer with

respect, maintain fairness and honesty in its service putting customers interest first.

Company should create value system which builds faith in the organization.

From the previous discussed things as the strategy, achievements, tasks & target, I may conclude following points

The target may be considered as a big target in the initial stages of the training period of SIP.

Unawareness of the market may be a hindrance in achieving the target.

May be that I am following a wrong strategy.

Taking references is helping me in making good clients as well as helping me in building my network.

The pipeline of prospective customers will help me in achieving my target to a large extent.

My product knowledge of my company has helped me achieving this much of my target.

Competition is very tough in the life insurance sector.

Customers require time to invest in the market.

Most customers are concerned with the safety and security of their money

People have taken policies according to their incomeMarket is already tapped & customers are not ready to listen about ULIP plans

The cooperation from the faculty guide and the company guide has made this process of learning more interactive by providing us with various inputs like pressure to perform, how to deal with it, various ways of genearting leads for sales, understanding the wants of the customer, the ways to maintain follow ups, creating pipeline, closing the deal, etc.

Mr. Deepak kala, who is my relationship manager, is very supportive and cooperative and has provided us with various small but useful inputs throughout the period of four mont

BIBLOGRAPHY

1.BOOKS AUTHORS

Marketing Management (10th Edition) Philip Kotler

Marketing Management (3rd Edition) V.S. Ramaswamy

Research Methodology (2nd Edition) C.R.Kothary

Research Methodology S.P. Kasande

2. NEWS PAPERS

Times of India

Financial Express

www.birlasunlife.com

www.HDFCINSURANCE.com

www.irda.com

www.LICindia.com

www.google.com

QUESTIONNAIRE

DATE…………….

1, NAME………………………………………

2, which age group do u belong:-

(a)Under-30 (b) Above-30

3, what is your profession: (tick the appropriate)

(a)Doctor (b) Enginneer

(c) Businessman (d) Govt.servant

(e) Stock Broker (f) Other Specify

(4) what is your annual income.

(a) < 1 lac (b) 1-3 lac

(c) 3-5 lac (d) 5-10 lac

(e) 10 lac & above

5, Are u aware that insurance is available to the following channels:-

(a)Corporate Agents (b) Agents

(c) Blue chip Companies (d) bank

(e) All

6, How often do you invest?

(a) Monthly (b) Quarterly

(c) Half- yearly (d) Yearly

7, If you have surplus of Rs. 100000, how would you allocate your fund in

insurance plan.

(a)Protection plan (b) Investment plan

(c) tax saver plan (d) Saving plan

(e) Pension plan

8, who influences you the most in your investment decision? In case of more

than one then please rank them in order of importance.

(a)Bank (b) Friend

(c) Relative (d) Corporate agent/Broker

(e) Other……………………………………………….

9, Have you taken any life insurance policy.

(a) Yes (b) No

(c) If yes which company…………………………………

10, I am planning to invest mainly for.

(a)Tax planning (b) Planning Home (c) Children’s

Education (d) Provide forregular

11, If find the service offered by BIRLA SUNLIFE INSURANCE LTD.

(a)Strongly agreed (b) Agreed

(c) Neither agreed nor disagreed (d) disagreed