Metlife Summer Mkt

7/27/2019 Metlife Summer Mkt.

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A SUMMER TRAINING PROJECT REPORT

ONMARKETING STRATEGY OF METLIFE

INDIA INSURANCE CO. PVT. LTD.

By

BHANU SHARMA

Master of Business Administration (MBA)4th Sem

2007-2009

{AFFILIATED TO M.D.UNIVERSITY}

SUBMITTED TO SUBMITTED BYBHANU SHARMAROLL NO

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DECLARATION

I hereby declare that the project work entitled is an original

and bonafide work done by me. This project is being submitted in

partial fulfillment for award of degree of Master of Business

Administration(MBA) from ZAD Institute of I.T & Management,

Rohtak {Haryana}.

BHANU SHARMA

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PREFACE

Progress is a continuous process. It is relative and absolute. We

cant stop a certain destination and declare that target has been

achieved and we need not go further.

The summer training program is designed to give the future

managers feel of the corporate happenings and work culture.

These real life situations are entirely different from the stimulatedexercise enacted in an artificial environment inside the classroom

and it is precisely because of this reason that this summer training

program is designed, so that the manager of tomorrow not feel ill

in the case when the time comes to shoulder responsibilities. The

summer training is a bridge between the institution and

organization. Summer training program made us to understand

how theoretical knowledge will be applied in the practical field.

It was exactly in this context that I was privileged to join Met Life

Insurance (No one US Insurance Company) on the 1nd of May

2009, as a summer trainee.. Met Life Insurance is known not only

for its professional management, but also for its enlightened and

progressive approach towards employee welfare and betterment of

the society.

The experience that I have gathered over the past two months has

certainly provided me with an orientation, which, I believe, will

help me shoulder any assignment successfully in future. During

this period the report which I made was done after a deep,

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comprehensive and full-fledged study and is based on my original

research and investigation.

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ACKNOWLEDGEMENT

This research in itself is an acknowledge to the inspiration, drive,technical assistance contributed to it by many individuals. Thisresearch work would have never been completed without theguidance and assistance that I received from time to time duringthe whole research process.

I express my sincere gratitude and indebtness to (Mba Faculty) forgiving me an opportunity to enhance my skill in the field of myproject.

BHANU SHARMAMBA 4th Sem2007-2009

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INDEX DECLARATION

ACKNOWLEDGEMENT

EXECUTIVE SUMMARY

OBJECTIVES

COMPANY PROFILE

MANAGEMENT TEAM

BEGIN STORY

PRODUCT RANGE

MARKETING STRATEGY

RESEARCH METHODOLOGY

HYPOTHESIS

ANALYSIS

FINDINGS

SUGGESTION

BIBILOGRAPHY

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QUESTIONARIES

OBJECTIVE

My objective in this training is the overall Marketing Strategy ofMetLife India Insurance co. Pvt. Ltd. And try to find out its WholeMarketing Strategy compare with other insurance companythrough Questionnaires.

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Board of Directors

Chairman:

Phone Nos. E-Mail

Mr. C. S. Rao 040-23241273

040-66820957

Fax : 040-66823334

[email protected]

Whole-Time members:

Mr.C.R.Muralidharan

Member(Finance)

040-66820965Fax : 040-66823334

[email protected]

Mr.K.KSrinivasan Member(Non-Life) 040-66820959Fax : 040-66823334

[email protected]

Mr.G.Prabhakara Member(Life)

040-66820958

[email protected]

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Fax : 040-66823334

Mr.R.Kannan Member (Actuary) 040-66820960

Fax : 040-66823334

[email protected]

Part-Time Members:

Sri Sunil Talati PresidentInstitute of

CharteredAccountantsof India

P O Box No.7100

IndraPrasthaEstateNEW DELHI 110 002Ph: 011-30110400(D)

[email protected]

Smt. Ela R Bhatt

SelfEmployedWomens

Association(SEWA)

ReceptionCentre, OppVictoriaGarden,Bhadra,AHMEDABAD380 001.Phone 079-25506444,

25506477

Sri VijayMahajan

ManagingDirector

BhartiyaSamruddhiFinanceLimited 5-1-664/665/679

[email protected]

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3rd Floor,Surabhi

Arcades,Troop Bazar,Bank StreetHyderabad,AP-500 001Ph: 91-40-6661-8846

Dr Sanjiv Misra SecretaryMinistry of

Finance

Dept ofExpenditure

North BlockNEW DELHI110 001Ph: 91-0112309 2929

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ORGANISATION STRUCTURE

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MetLife

KARNATAKA BANK

DHANLAKHMI BANK

JEOJIT

WAY2WEALT

H

MINIMUTHOOTTU

KARVY

UTI BANK J & K BAN


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Partners of MetLife

1. UTI Bank

2. J & K Bank

3. KARVY

4. GEOJIT Securities

5. WAY2WEALTH

6. MINI MUTHOOTTU

7. DHANLAXMI BANK

8. KARNATAKA BANK

DETAILS OF THE PARTNER

1. UTI BANK

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UTI Bank was the first of the new private banks to have begun operations in1994, after the Government of India allowed new private banks to beestablished. The Bank was promoted jointly by the Administrator of thespecified undertaking of the Unit Trust of India (UTI - I), Life InsuranceCorporation of India (LIC) and General Insurance Corporation Ltd. andother four PSU companies, i.e. National Insurance Company Ltd., The NewIndia Assurance Company, The Oriental Insurance Corporation and UnitedInsurance Company Ltd.

The Bank today is capitalized to the extent of Rs. 282.65 crore with thepublic holding (other than promoters) at 57.05%.

The Bank's Registered Office is at Ahmedabad and its Central Office islocated at Mumbai. Presently, the Bank has a very wide network of morethan 578 branch offices and Extension Counters. The Bank has a network ofover 2383 ATMs providing 24 hrs a day banking convenience to itscustomers. This is one of the largest ATM networks in the country.

The Bank has strengths in both retail and corporate banking and iscommitted to adopting the best industry practices internationally in order toachieve excellence.

2. J & K BANK

History

Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938and commenced its business from 4th July, 1939 at in Kashmir (India). TheBank was the first in the country as a State owned bank.

According to the extended Central laws of the state, Jammu & KashmirBank was defined as a govt. Company as per the provision of Indian

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companies act 1956. In the year 1971, the Bank received the status ofscheduled bank. It was declared as "A" Class Bank by RBI in 1976

Today the bank has more than 500 branches across thecountry and has recently become a billion Dollar

Company.

Profile

Incorporated in 1938 as a limited company. Governed by the Companies Act and Banking Regulation Act of

India.

Regulated by the Reserve Bank of India and SEBI. Listed on the National Stock Exchange (NSE) and Bombay Stock

Exchange (BSE) 53 per cent owned by the Government of J&K. Rated "P1+" by Standard and Poor- CRISIL connoting highest degree

of safety. Four decades of uninterrupted profitability and dividends.

3.KARVY

KARVY, is a premier integrated financial services provider, and rankedamong the top five in the country in all its business segments, services over16 million individual investors in various capacities, and provides investorservices to over 300 corporates, comprising the who is who of CorporateIndia. KARVY covers the entire spectrum of financial services such asStock broking, Depository Participants, Distribution of financial productslike mutual funds, bonds, fixed deposit, Merchant Banking & CorporateFinance, Insurance Broking, Commodities Broking, Personal FinanceAdvisory Services, placement of equity, IPOs, among others. Karvy has a

professional management team and ranks among the best in technology,operations, and more importantly, in research of various industrial segments.

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Karvy Computer share Private Limited is a 50:50 joint venture of KarvyConsultants Limited and Computer share Limited, Australia. Computershare Limited is world's largest -- and only global -- share registry, and a

leading financial market services provider to the global securities industry.

The joint venture with Computer share, reckoned as the largest registrar inthe world, servicing over 60 million shareholder accounts for over 7,000corporations across eleven countries spread across five continents. Computershare manages more than 70 million shareholder accounts for over 13,000corporations around the world.

Karvy Computer share Private Limited, today, is India's largest Registrarand Share Transfer Agent servicing over 300 corporates and mutual fundsand 16 million investors.

4. JEOJIT SECURITIES

Mr. C.J. George and Mr. Ranajit Kanjilal founded Geojit as a partnershipfirm in the year 1987. In 1993, Mr. Ranajit Kanjilal retired from the firm andGeojit became a proprietary concern of Mr. C .J. George. In 1994, it becamea Public Limited Company by the name Geojit Securities Ltd. The Kerala

State Industrial Development Corporation Ltd. (KSIDC), in 1995, became aco-promoter of Geojit by acquiring 24% stake in the company, the onlyinstance in India of a government entity participating in the equity of a stock

broking company. Geojit listed at The Stock Exchange, Mumbai (BSE) inthe year 2000. In 2003, the Company was renamed as Geojit FinancialServices Ltd. (GFSL). The board of the company consists of professionaldirectors; including a Kerala government nominee with 2/3rd of the board

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members being Independent Directors. With effect from July 2005, thecompany is also listed at The National Stock Exchange (NSE). Geojit is acharter member of the Financial Planning Standards Board of India and is

one of the largest DP brokers in the country.

Overseas Joint Ventures

Barjeel Geojit Securities, LLC, Dubai, is a joint venture of Geojitwith Al Saud Group belonging to Sultan bin Saud Al Qassemi havingdiversified interests in the area of equity markets, real estates andtrading. Barjeel Geojit is a financial intermediary and the first licensed

brokerage company in UAE. It has facilities for off-line and on-linetrading in Indian capital market and also in US, European and Far-Eastern capital markets. It also provides Depository services and dealsin Indian and International Funds. An associate company, Global

Financial Investments S.A.O.G provides similar services in Oman.

Doha Bank-Geojit in Qatar: Geojit has a tie up with Doha Bank

in Qatar, which offers capital market services from the India Desk.

5. WAY2WEALTH

Way2Wealth is a premier investment consultancy firm that has beenlaunched with the aim of making investing simpler more understandable and

profitable for the investors. Insurance and mutual fund to equity and

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derivatives (on the national stock exchange) for the convince and benefit ofit customers . Way2Wealth has over 40 easily accessible investment outletsspread across 20 major towns and cities in the countries

6. DHANLAKHMI BANK

Dhanalakshmi Bankwas incorporated on 14th November 1927 by a groupof enterprising entrepreneurs at Thrissur, the cultural capital of Kerala with aCapital of Rs.11,000/- and had only 7 employees. It became a ScheduledCommercial Bank in the year 1977. It has today attained national staturewith 181 branches and 26 Extension Counters spread over the States ofKerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat,Delhi and West Bengal. The Bank serviced a business of Rs. 4223 crores ason 31.03.06 comprising deposits of Rs.2533 crores and advances of Rs.1690crores. As at the end of March 2006, the Capital Adequacy Ratio of theBank was 9.75% well above the mandatory requirement of 9%. The Bankmade a net profit of Rs.9.51 crores for the year ended 31st March 2006.

The Bank is techno savvy and has deployed technology widely as an

instrument for enhancing the quality of customer service. It has introducedCentralised Banking Solution (CBS) on the Flexcube Platform for extendingAnywhere/Anytime banking to its clientele through multiple deliverychannels. The Bank has deployed CBS in 150 branches covering nearly 95%of total business. The Bank has set-up a state-of-the-art DATA CENTRE inBangalore, to keep the networked system operational 24 hours a day and 7days a week.

The Bank lays stress on customizing services and personalizing relations. Ithas introduced in November 2005 an International Debit Card with tie-upwith M/s Visa International. In another customer-friendly move, the Bankhas joined CASHNET, the first independent nation-wide shared ATMnetwork in India and the National Financial Switch (ATM network) of theIDRBT, promoted by Reserve Bank of India. By joining Cash net and NFS,our customers have been provided access to more than 14,000 ATMs in the

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country. The Bank has installed 63 networked ATMs thus far at centres ofhigh banking activity.

The Bank has introduced tele-banking in 50 branches and Internet bankingin 84 branches. It has also put in place a Cash Management System (CMS)that provides speedier cheque collection through 59 branches.

The Bank has put in place Real Time Gross Settlement (RTGS) System tofacilitate large value inter-bank payments and settlements in real time on-line mode on a transaction-by-transaction basis. It is in the process ofextending RTGS to customer transactions.

The Bank has ventured into both life and non-life insurance. It is selling lifeinsurance products of M/s. MetLife India, a renowned global player in thissegment and non-life insurance products of M/s. Iffco Tokio, as theircorporate agent. The Bank is also a depository participant of NSDL(National Security Depository Limited) offering Demat services throughselected branches.

With a view to making available value-added services to the NRIs, the Bankhas set up NRI Boutiques (Relationship Centres) at 8 locations in the Stateof Kerala. The Bank has also plans to open specialized NRI branches withaccent on quality of service and thrust on specialization at potentiallocations. As at the end of March 2006, the Bank had rupee drawingarrangements with 7 Exchange Houses in the Middle East.

The Banks Industrial Finance Branch at Kochi and Corporate Office,

Trichur have been accredited with certification under ISO 9001-2000.

On the socio-economic front, the Bank is a leading player in dispensation ofMicro Credit among Kerala-based Private Sector Banks. As at the end ofMarch 2006, the outstandings under micro credit were Rs.55.63 crores. Thisinvolvement is part of the Banks objective to act as catalysts for the

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economic prosperity of the country. The Bank has recognized micro financeintervention as an effective tool for poverty alleviation and has streamlinedthe linkage between the Bank and Self Help Groups through 100 branches.

The Priority sector advances of the Bank as at 31st March 2006 constituting43.84% of net bank credit well above the RBI benchmark of 40%.

The Bank is managed by a Board of Directors comprising professionalsdrawn from various walks of life with Mr A.D. Navaneethan as theChairman and Sri P.S.Prasad as Managing Director & CEO.

7. KARNATAKA BANK

At Karnataka Bank, we understand that all customers are different inunique ways, which is why, regardless of the size of your business or youraspirations, we treat every one as individual and special. This means offeringyou choices, not only in relation to our products and services but also in theway you interact with us. We understand the changes in your lifestyle,recognize these changes and support you with a high standard of

professionalism and service.

As a premier bank, we have developed comprehensive range ofcustomized products & services suitable for every kind of market, tradeor perceived need - Business or Personal. They include, borrowingfacilities, deposits, providing optimum returns on surplus funds or helpingwith overseas transactions.

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We believe in total quality at all levels. We have deployed the most modern

information technology to deliver products & services for your benefit withan aim to develop an effective long-term relationship. But most of all,Technology is matched to your expectations of service, for today & for thefuture.

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Our Vision and Mission

Build financial freedom for all through leadership in providing financial advice and building long-term relationships through innovative protection,accumulation and retirement products, robust underwriting processes andcreating world-class customer service experience for our customers.

We want to provide customers in India with world-class solutions for

financial security, and in the process add significant value to ourshareholders, associates and society.

Our Core Values

We lead through Innovation to offer world class and competitiveproducts to our customers

We build Long Term Relationships with our customers by creating a

world class service experience through operational excellence and theinnovative use of technology

We create a Customer Centered and Result Focused Vision thatinspires each one of our Associates and has their buy-in

We are committed to creating a High Performance Organization bycreating an environment that allows each one of our Associates to

perform at their peak. As a result we will also be recognized as anEmployer of Choice

We are committed to Partnering with our internal and externalCustomers for mutual success

We work with Integrity, Fairness and Financial Prudence in all ourdealings keeping the interests of our Shareholders, Customers andAssociates paramount

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BEGIN STORY

The origins of Metropolitan Life Insurance Company (MetLife) go back to1863, when a group of New York City businessmen raised $100,000 tofound the National Union Life and Limb Insurance Company

.The new company insured Civil War sailors and soldiers against disabilitiesdue to wartime wounds, accidents, and sickness. In 1868, after several

reorganizations and five difficult years, the company decided to focus on thelife insurance business. A new company was chartered to sell "ordinary"insurance to the middle class. The founders chose the name because they had

been most successful in New York City, or the "Metropolitan" District.

This new venture also faced difficulties. A severe business depression thatbegan in the early 1870s rapidly put half of the 70 life insurance companiesoperating in New York State out of business. Only very large, long-established ordinary life insurance companies remained strong. Policy lapsesover successive years forced the company to contract until it reached itslowest point in the late 1870s.

In 1879, MetLife President Joseph F. Knapp turned his attention to England,where "industrial" orworkingmen's" insurance programs were widelysuccessful. American companies had not bothered to pursue industrialinsurance up to that time because of the expense involved in building and

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sustaining an agency force to sell policies door to door and to make the

weekly collection of five- or ten-cent premiums

By importing English agents to train an American agency force, MetLifequickly transferred successful British methods for use in the United States.By 1880, the company was signing up 700 new industrial policies a day.Rapidly increasing volume quickly drove down distribution costs, and thenew program proved immediately successful.

The MetLife agent became an important person in the lives of these strivingfamilies. Manuals instructed agents to call at a home at the same time each

week to ensure familiarity and contact. In the process of collectingpremiums, insurance agents listened to the problems, concerns, and hopes oftheir clients. So successful was this approach that by 1909, MetLife becamethe nation's largest life insurer in terms of insurance in force, a leadership

position we continue to hold today in North America

TYPES OF POLICIES

1. Endowment Policies

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2. Group Insurance

3. Joint Life Insurance Policies

4. Loan Cover Term Assurance Policies

5. Money back Policies

6. Pension Plan

7. Term Life insurance Policies

8. Unit linked Insurance Plan ( ULIP )

9. Whole Life insurance Policies

1. Endowment Policies

An endowment policy covers risk for a specified period, at the end of whichthe sum assured is paid back to the policyholder, along with the bonusaccumulated during the term of the policy.

An endowment life insurance policy is designed primarily to provide aliving benefit and only secondarily to provide life insurance protection.Therefore, it is more of an investment than a whole life policy.

Endowment life insurance pays the face value of the policy either at theinsured's death or at a certain age or after a number of years of premium

payment. Endowment policy is an instrument of accumulating capital for a

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specific purpose and protecting this savings program against the saver'spremature death.

2. Group Insurance

Group insurance offers life insurance protection under group policies tovarious groups such as employers-employees, professionals, co-operatives,weaker sections of society, etc. It also provides insurance coverage for

people in certain approved occupations at the lowest possible premium cost.

Group insurance plans have low premiums. Such plans are particularlybeneficial to those for whom other regular policies are a costlier proposition.Group insurance plans extend cover to large segments of the populationincluding those who cannot afford individual insurance.

A number of group insurance schemes have been designed for variousgroups. These include employer-employee groups, associations of

professionals (such as doctors, lawyers, chartered accountants etc.),members of cooperative banks, welfare funds, credit societies and weakersections of society.

3. Joint Life Insurance Policies

Joint life insurance policies are similar to endowment policies as they too

offer maturity benefits to the policyholders, apart form covering risks like alllife insurance policies.

But joint life policies are categorized separately as they cover two livessimultaneously, thus offering a unique advantage in some cases, notably, fora married couple or for partners in a business firm.

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Under a joint life policy the sum assured is payable on the first death andagain on the death of the survivor during the term of the policy. Vested

bonuses would also be paid besides the sum assured after the death of the

survivor. If one or both the lives survive to the maturity date, the sumassured as well as the vested bonuses are payable on the maturity date. The

premiums payable cease on the first death or on the expiry of the selectedterm, whichever is earlier.

4. Loan Coverage Term Assurance

Loan cover term assurance policy is an insurance policy, which covers ahome loan. Such a policy covers the individual's home loan amount in caseof an eventuality. The cover on such a policy keeps reducing with the

passage of time as individuals keep paying their EMIs (equated monthlyinstalments) regularly, which reduces the loan amount.

This plan provides a lumpsum in case of death of the life assured during theterm of the plan. The lump sum will be a decreasing percentage of the initialsum assured as per the policy schedule. Since this is a non-participating(without profits) pure risk cover plan, no benefits are payable on survival tothe end of the term of the policy.

Various insurance companies offering loan repayment protection insurancepolicy are

HDFC Standard Life Insurance Tata AIG ING Vysya LIC MetLife

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5. Money Back Policies

Money back policy provides for periodic payments of partial survivalbenefits during the term of the policy, as long as the policyholder is alive.They differ from endowment policy in the sense that in endowment policysurvival benefits are payable only at the end of the endowment period.

An important feature of money back policies is that in the event of death atany time within the policy term, the death claim comprises full sum assuredwithout deducting any of the survival benefit amounts, which may havealready been paid as money-back components. The bonus is also calculatedon the full sum assured.

6. Pension Plan

A pension plan or an annuity is an investment that is made either in a singlelump sum payment or through installments paid over a certain number ofyears, in return for a specific sum that is received every year, every half-yearor every month, either for life or for a fixed number of years.

Annuities differ from all the other forms of life insurance in that an annuitydoes not provide any life insurance cover but, instead, offers a guaranteedincome either for life or a certain period.

Typically annuities are bought to generate income during one's retired life,which is why they are also called pension plans. By buying an annuity or a

pension plan the annuitant receives guaranteed income throughout his life.

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He also receives lump sum benefits for the annuitant's estate in addition tothe payments during the annuitant's lifetime.

7. Term Life Insurance Policies

Term life insurance policy covers risk only during the selected term period.If the policyholder survives the term, the risk cover comes to an end. Termlife policies are primarily designed to meet the needs of those people whoare initially unable to pay the larger premium required for a whole life or anendowment assurance policy.

No surrender, loan or paid-up values are granted under term life policiesbecause reserves are not accumulated. If the premium is not paid within thegrace period, the policy lapses without acquiring any paid-up value.

8. Unit Linked Insurance Plan

Unit linked insurance plan (ULIP) is life insurance solution that provides forthe benefits of protection and flexibility in investment. The investment isdenoted as units and is represented by the value that it has attained called as

Net Asset Value (NAV). The policy value at any time varies according tothe value of the underlying assets at the time.

ULIP provides multiple benefits to the consumer. The benefits include: Life protection Investment and Savings Flexibility

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Adjustable Life Cover Investment Options Transparency Options to take additional cover against Death due to accident Disability Critical Illness Surgeries Liquidity Tax planning

9. Whole Life Insurance Policies

A whole life policy runs as long as the policyholder is alive. As risk iscovered for the entire life of the policyholder, therefore, such policies areknown as whole life policies. A simple whole life policy requires the insurerto pay regular premiums throughout the life. In a whole life policy, theinsured amount and the bonus is payable only to the nominee of the

beneficiary upon the death of the policyholder. There is no survival benefitas the policyholder is not entitled to any money during his / her own

lifetime.

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PRODUCT RANGE

No one can give you all the answers when it comes to dealing with life's upsand downs. But we can certainly equip you to deal with life better. Pleasefind below the various products offered by MetLife to suit your specificneed:

Accumulation

Whole Life Policy Met 100- Limited Pay Whole life Non - Participating Met 100- Limited Pay Whole life Participating

Endowment Policy MET Suvidha

Money Back Policy Met Sukh Money Back Non Participating Met Bhavishya

Multi Purpose

Met Ultimate

Met Smart Plus Met Smart Premier Met Smart Plus - Single Pay Met Smart Premier - Single Pay

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http://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#WholeLifePolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#Met100LimitedPayWholelifeNonParticipatinghttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#Met100LimitedPayWholelifeParticipatinghttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#EndowmentPolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MetSuvidhahttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MoneyBackPolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MetSukhMoneyBackNonParticipatinghttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MetBhavishyahttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliId#MetSmartPlusPremierSinglepayhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliId#MetSmartPlusPremierSinglepayhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#WholeLifePolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#Met100LimitedPayWholelifeNonParticipatinghttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#Met100LimitedPayWholelifeParticipatinghttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#EndowmentPolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MetSuvidhahttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MoneyBackPolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MetSukhMoneyBackNonParticipatinghttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MetBhavishyahttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliId#MetSmartPlusPremierSinglepayhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Met%20Ultimate/MetUltimate.html?QryStr=prdctDtlMliId#MetSmartPlusPremierSinglepay


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Protection

Met Suraksha - TROP Met Suraksha - TA Met-Mortgage Protector SP/Limited pay(MRTA)

Retirement

MET Pension - Participating Deferred Annuity MET Advantage Plus

Add Ons Accidental Death Benefit (ADB) Term Rider Waiver Of Premium Critical Illness

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http://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnId#MetSuraksha-TROPhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnId#MetSuraksha-TAhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnId#MetMortgageProtectorSPLimitedpayMRTAhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Retirement/Retirement.html?QryStr=prdctDtlRetIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Retirement/Retirement.html?QryStr=prdctDtlPrctnId#METPensionParticipatingDeferredAnnuityhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Retirement/Retirement.html?QryStr=prdctDtlPrctnId#METAdvantagePlushttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#AccidentalDeathBenefitADBhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#TermRiderhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#WaiverOfPremiumhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#CriticalIllnesshttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnId#MetSuraksha-TROPhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnId#MetSuraksha-TAhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Protection/Protection.html?QryStr=prdctDtlPrctnId#MetMortgageProtectorSPLimitedpayMRTAhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Retirement/Retirement.html?QryStr=prdctDtlRetIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Retirement/Retirement.html?QryStr=prdctDtlPrctnId#METPensionParticipatingDeferredAnnuityhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Retirement/Retirement.html?QryStr=prdctDtlPrctnId#METAdvantagePlushttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddIdhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#AccidentalDeathBenefitADBhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#TermRiderhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#WaiverOfPremiumhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#CriticalIllness


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PRODUCT ANALYSIS

Accumulation

Worldwide, accumulation products help our customers invest wisely andenjoy benefits during those important phases of life be it their childrenseducation, marriage or buying a house. In addition to providing riskcoverage. MetLife's accumulation products are ideal for those who like toavail of life cover as well as investment benefits.

The following policies are available under the accumulation plans:

Whole Life Policy Endowment Policy Money Back Policy

Multi Purpose

Met Ultimate

Your needs in life keep changing with time. There is no reason to keepbuying new insurance products to keep pace with your changingresponsibilities. Now all you need is the convenience of Met Ultimate , the

participating Universal Life Insurance Plan.

Met Ultimate is an insurance plan that keeps evolving to suit every stage of

your life. It is a plan that covers you till age 100, with an investment planlinked to guaranteed as well as market interest rates.

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http://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#WholeLifePolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#EndowmentPolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MoneyBackPolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#WholeLifePolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#EndowmentPolicyhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Accumulation/Accumulation.html?QryStr=prdctDtlAccId#MoneyBackPolicy


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Met Smart Plus & Met Smart Premier

Unit-Linked Life Insurance Plans (Non-Par)

You want to protect your family from lifes uncertainties; at the same time,you wish insurance would yield higher returns on your investments. Youwant your insurance policy to help realize all your dreams. Met Smart Plus& Met Smart Premier is our answer for your quest.

Met Smart Plus & Met Smart Premier are transparent, Unit Linked wholelife plans that mature at the age 100. The premium you pay is used partly

forinsurance cover and the balance is invested in funds to buy units.

Met Smart Plus - Single Pay &Met Smart Premier - Single PayUnit-Linked Life Insurance Plans (Non-Par)

At times, you feel the need for a plan that offers you more that justprotection. A plan that makes your money work that extra bit for you. Andoffers you an excellent balance between wealth creation and protection.

Presenting Met Smart Plus Single Pay and Met Smart Premier Single Pay.All it needs is a single payment in return for a lifetime of your familys

protection.

Protection

Protection plans, as the name implies, protects your loved ones againstliabilities that might be left out, should something unfortunate happen toyou. For instance, if you have a home loan pending, Protection Plans pay off

the balance amounts on your demise and lets them enjoy the asset.

MetLife has a comprehensive plan that allows you to provide that all-important shelter for your family against lifes uncertainties.

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MET Suraksha - TROP

The most important things in life are inexpensive. If you think precious lifecover costs the earth, think again. Met Suraksha, a non participating termassurance plan, offers cover for a large sum assured at rates that are veryeconomical. Met Suraksha is an invaluable protection at a not-so-valuablecost.

MET Suraksha - TA

The most important things in life are inexpensive. If you think precious lifecover costs the earth, think again. Met Suraksha, a non participating termassurance plan, offers cover for a large sum assured at rates that are veryeconomical. Met Suraksha is an invaluable protection at a not-so-valuablecost.

Met-Mortgage Protector Single Pay / Limited Pay (MRTA)

Met-Mortgage protector Single Pay / Limited Pay is specially designed toprotect your dependents against the liabilities incurred on a housing loan.Available in terms of 5 through 25 years, the Met Mortgage Limited payversion continues even after the premium paying term is over.

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Retirement

There's a day in all our lives that we look forward to with anticipation andsome anxiety too - the first day of retirement. A time when finances arecrucial. A time when you want to be sure that you are financiallyindependent and secure.

MetLife has comprehensive plans that allow you to build a fund to enjoy

financial security on retirement.

MET Pension (Par) gives you a friendly helping hand so you can be s, eightannuity options, and much more plan, Met Advantage Plus comes withsix investment option

ADDS ON

At MetLife, we want our customers to get maximum out of their lives. Be itin terms of making their dreams come true or getting the best out of theirinsurance plan. With this in mind, we created MetMore, which allows you tocustomize your life insurance plan. So that it can be tailored to meet theunique needs of you and your family members. MetMore offers you a choiceof riders, which are optional contracts that allow you to enjoy additional

benefits. They are always attached to the basic policy at the time ofpurchasing it, and cannot be bought separately or independently. Each rider

comes with its own premium rates and separate policy conditions. Thepremium, nature and characteristics of the rider are based on the base policyto which the rider is attached.

So go on, get more out of life.

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Here are all the riders you can choose under MetMore

Accidental Death Benefit Term Rider Waiver of Premium Critical Illness

INTRODUCTION TO MARKETING STRATEGY

Marketing strategy as a key part of the general corporate strategy

A marketing strategy is most effective when it is an integral component ofcorporate strategy, defining how the organization will engage customers,

prospects and competitors in the market arena for success. It is partiallyderived from broadercorporate strategies, corporate missions, and corporate

goals. They should flow from the firm's mission statement. They are alsoinfluenced by a range ofmicroenvironmental factors.

Marketing strategy and sectorial tactics and actions

A marketing strategy also serves as the foundation of a marketing plan. Amarketing plan contains a set of specific actions required to successfullyimplement a marketing strategy. For example: "Use a low cost product to

attract consumers. Once our organization, via our low cost product, hasestablished a relationship with consumers, our organization will selladditional, higher-margin products and services that enhance the consumer'sinteraction with the low-cost product or service."

A strategy consists of well thought out series of tactics. While it is possibleto write a tactical marketing plan without a sound, well-considered strategy,

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http://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#AccidentalDeathBenefitADBhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#TermRiderhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#WaiverOfPremiumhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#CriticalIllnesshttp://en.wikipedia.org/wiki/Strategic_managementhttp://en.wikipedia.org/wiki/Environmental_scanninghttp://en.wikipedia.org/wiki/Marketing_planhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#AccidentalDeathBenefitADBhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#TermRiderhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#WaiverOfPremiumhttp://www.metlife.co.in/MetIndia/Individual/Product%20Overview/Product%20Details/Add%20Ons/AddOns.html?QryStr=prdctDtlAddId#CriticalIllnesshttp://en.wikipedia.org/wiki/Strategic_managementhttp://en.wikipedia.org/wiki/Environmental_scanninghttp://en.wikipedia.org/wiki/Marketing_plan


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it is not recommended. Without a sound marketing strategy, a marketingplan has no foundation. Marketing strategies serve as the fundamentalunderpinning of marketing plans designed to fill market needs and reach

marketing objectives[3]. It is important that these objectives have measurableresults.

A good marketing strategy should integrate an organization's marketinggoals, policies, and action sequences (tactics) into a cohesive whole. Manycompanies cascade a strategy throughout an organization, by creatingstrategy tactics that then become strategy goals for the next level or group.Each group is expected to take that strategy goal and develop a set of tacticsto achieve that goal. This is why it is important to make each strategy goal

measurable.

Marketing strategies are dynamic and interactive. They are partially plannedand partially unplanned. See strategy dynamics.

Types of marketing strategies

Every marketing strategy is unique, but if we abstract from theindividualizing details, each can be reduced into a generic marketingstrategy. There are a number of ways of categorizing these generic

strategies. A brief description of the most common categorizing schemes ispresented below:

Strategies based on market dominance - In this scheme, firms areclassified based on their market share or dominance of an industry.Typically there are three types of market dominance strategies:

o Leadero Challengero Follower

Porter generic strategies - strategy on the dimensions of strategic

scope and strategic strength. Strategic scope refers to the marketpenetration while strategic strength refers to the firms sustainablecompetitive advantage.

o Cost leadershipo Product differentiationo Market segmentation

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Innovation strategies - This deals with the firm's rate of the newproduct development and business model innovation. It asks whetherthe company is on the cutting edge of technology and business

innovation. There are three types:o Pioneerso Close followers

Late followers Growth strategies - In this scheme we ask the question,How should the firm grow?. There are a number of different waysof answering that question, but the most common gives four answers:

Horizontal integration

Vertical integration

Diversification Intensification

A more detailed schemes uses the categories: Prospector Analyzer Defender Reactor

o Marketing warfare strategies|Warfare based strategies- Thisscheme draws parallels between marketing strategies andmilitary strategies

There are only three marketing strategies needed to grow a business: (1)Increase the number of customers (2) Increase the average transactionamount, and (3) Increase the frequency of repurchase.

Every marketing strategy should be measured by it's ability to directlyimpact and improve upon each of these three factors.

Increasing only one factor will produce linear business growth. Increasingall three factors will produce geometric business growth.

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Marketing Strategy #1. Increase the number of customers

Increasing the total number of customers is the first step most business

owners and managers take to grow their business.

Losses can occur when inexperienced sales personnel are put in charge ofdesigning and implementing a marketing program - investing corporateresources to find more customers.

Executed correctly, basic marketing strategies cost efficiently produce newprospects who are ready, willing and able to buy products or services. Themain purpose of a marketing strategy is to give sales personnel prospects toconvert into paying customers.

Rewarding existing customers for referring new ones is one easy stepbusiness owners can take to increase their total number of customers.

Marketing Strategy #2. Increase the average transaction amount

Owners and managers spend most of their time operating their business andsearching for new customers. They often overlook the customers they seeregularly. These repeat customers are usually taken for granted and left toconduct entire transactions without ever being asked if they would like to

buy more product or service.

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Complacency, expecting customers to buy a minimum amount of product orservice without ever being asked to buy more, can be the undoing of a

business. This attitude can eventually cause customers to spend less money.Customers who arent continuously offered compelling reasons to keep

buying more of the same products and services from one business will lookfor new reasons to buy from another.

Cross selling and upselling, systematically offering customers more valuevia additional products or services at the point of sale, are two simple steps

business owners can take to increase their average transaction amount.

Marketing Strategy #3. Increase the frequency of repurchase

In an established business, an average customer purchasing pattern developsand (like the average transaction amount) is usually taken

for granted and rarely improved upon.

A customer's repeat business is earned by the business who gives thecustomer what they want. Without having basic marketing strategies or

processes for consistently offering customers more of what they want, repeatbusiness is earned less frequently.

Frequently communicating news and offers to past and present customersvia telephone or mail generally increases their frequency of repurchase andis one more step owners can take to grow their business.

To learn more about Tim Cohn's Thesis In Marketing Strategies, BasicMarketing Strategies or to get 101 Marketing Strategies visit the MarketingStrategies Catalog section of this site.

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Research Methodology

Under Methodology, we would study the following

OBJECTIVES OF THE STUDY

ASSUMPTIONS TAKEN

HYPOTHESIS TAKEN UP

RESEARCH FRAMEWORK and

METHODS USED UNDER THIS LET US DEAL WITH THEM ONE BY ONE.

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Objectives Of The Study

1. To obtain a general understanding of the marketing strategies adoptedby an insurance company.

2. To analyze the strategies of MetLife Insurance company. and toascertain the relationship between effectiveness of the strategies and

profitability.3. To obtain the brand awareness and Promotion of the company

Assumptions1. The time frame of all marketing strategies and Public Relations

procedures is fairly long and they are not implemented for short termselling only.

2. It is taken into consideration that there exists a positive correlationbetween the various marketing strategies of the company.

3. MetLife Insurance company Pvt. Ltd. is a renound name in theinsurance sector. At times it is the name or the goodwill that sellsrather than the actual product features.

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Hypothesis

1. The marketing strategies of MetLife Insurance company pvt. Ltd.have a direct bearing with the perception of the products or service ina consumers mind.

2. Marketing strategies practices have highest influence on profitabilityin comparison to other aspects and factors.

Research frame

The study involved an analysis of the marketing strategies and publicrelations practices of a leading newspaper daily. As the thesis project tried toestablish a relationship between the marketing strategies, Promotion of thecompany, Its Brand marketing, consequences in terms of profitability, the

framework for the research was chosen to be EXPLORATORY in nature.

Exploratory research is that part of the overall market research, which isused to discover something new. Normally in any case there can be anumber of opportunities or possible problems and it is impractical tostudy each of them. Exploratory research in such a case is very useful tofind out the most likely alternatives. These alternatives are then turnedinto hypothesis.

Hypotheses are tentative and logical answers to questions that serve as

guides for most research projects.The various means of going about or executing exploratory research are

Survey of knowledgeable person

Case study

This thesis report is largely based on Survey of knowledgeable persons andSurvey of knowledgeable persons. The case study method could not be

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applied to a very great extent due to the intricacies involved and hence itsrole was limited.

Methods Used Under This Study

1. SURVEY OF KNOWLEDGEABLE CUSTOMER

This pertains to the collection of data from a primary source. Peoplethose who have MetLife Policies and those people who have other

company policies. About the product of MetLife. Its brandawareness.

DEPTH INTERVIEW

A larger part of the information was collected using this method.Although there was a proper formal questionnaire for the customereither MetLife or any other company , the interview with SalesManager of the company was a more flexible one. This helped inobtaining facts and data that would not have been obtained otherwise.

PRIMARY DATA

Lucky enough to be a part of MetLife Insurance Company, myself itwas easy to meet with the Sales Manager

1. Vipin Balian ( Sales Manager )2. Somdutta ( Sales Manager )

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2. SEARCH OF SECONDARY DATAProbably the quickest and the most economical way of finding

possible hypothesis to take advantage of others work and utilizeearlier efforts. Secondary data gives one a n already built platform towork on. A large volume of basic research is reported in professionaland trade journals and these sources are maintained in public libraries,newspapers, , and government documents. Specifically speaking, thismethod is most convenient for students and is also the mosteconomical. Constraints of cost time and also overall research tools

and resources make this method most dependable.While doing this project on MetLife India Insurance Company Ltd.the secondary data was collected from:

1. INTERNET www.google.com

www.metlife.co.in

www.metlife.com

http://en.wikipedia.org/wiki/Marketing_strategy

2. MAGAZINES & NEWSPAPERS

BUSINESS TODAY

TIMES OF INDIA

BUSINESS LINE

ECONOMIC TIME

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ANALYSIS

1. Life insurance corporation control 79 % of Insurance market DelhiAnd NCR regions where as MetLife is fastly emerging and its rank isnow 9th and its growth rat is 146% .

2. Maximum policies are brought by the age group of 30-40 followed by25-30

AGE GROUP STAKE

30-40 .3025-30 .1820-25 .1630-35 .1240-45 .10

45-50 .1050(ABOVE .04

3. The role of channel of in information in insurance has a significantpart to play. The public perception in long term investment givinglow returns need to be changed as per my studies the maximum reachin the market is through advisors /insurance agents which almost has40% reach stake .The second most reachable channel of information isFriends and relatives which contributes 25% TV/Media holds 30%

and brokers investment agent has 5% stake in the channel throughwhich information about insurance aboutinsurance is disseminated.

4. The customers preferences amongst attributes of service andcredibility is slightly more towards credibility as 51% persons has

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preference at credibility where as rest 49% preferred services overcredibility.

5. The customer preferences amongst the four attributes of investment ininsurance viz Investment ,saving for future ,risk cover & tax saving isas below

Order First preference Secondpreference

Thirdpreference

Fourthpreference

1

RISK COVER SAVING FORFUTURE INVESTMENT

INVESTMENT

2

TAX SAVING RISK COVER TAX SAVING TAX SAVING

3SAVING FORFUTURE

TAX SAVING SAVING FORFUTURE

RISK COVER

4

INVESTMENT INVESTMENT RISK COVER SAVING FORFUTURE

6. Results drawn on the basis of likert scale rating method gave

Following conclusions :-

(1) As far as service is concerned MetLife Insurance is the best serviceprovider Closely followed by LIC and ICICI Prudential. The excellentcustomer perception about service of MetLife insurance is due of its Bank

partner, which has been the best service provider among private and Publicsector banks in India.

(2) In terms of accessibility LIC is No. one followed by MetLife isNo.9 in Life Insurance Company, the accessibility of LIC can be attributedto the vast network of its agents operating in life insurance services in the

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country. MetLife swiftly gaining ground due of enhanced network ofdistribution (Branches) and insurance agent/advisor. Company has 53

branches and a advisor force of 50000 persons.

(3) The credibility of LIC is far better than all other insurance companiesoperating in India. The reason behind the high credibility of LIC is due ofits being a public sector undertaking apart it is the oldest life insurancecompany operating since 1955 in India.

Customer Preferences Of Following Attributes In Buying Life

/General Insurance

(a) Investment(b) Saving for future(c) Risk cover(d) Tax saving

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PREFERENCES

ATTRIBUTESFIRST SECOND THIRD FOURTH TOTAL

INVESTMENT 15 20 30 35 100

SAVING FOR FUTURE 25 30 23 27 100

RISK COVER 20 17 13 50 100

TAX SAVING 40 33 24 3 100

0

10

20

30

40

50

Investment

Shaveing for future

Risk Cover

Tax Shaveing

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CUSTOMER PREFERENCES1. Risk Cover2. Tax Shaving3. Investment4. Shaving for Future

MARKET SHARE OF DIFFERENT

INSURANCE COMPANIES IN DELHI

AND NEAR BY REGION :-

SIZE OF UNIVERSE 13,00,000

SAMPLE SIZE 100

COMPANIES PROFILE SAMPLE BELONGINGTO

LIFE INSURANCE CO. PUBLIC SECTOR 70

ICICI PRUDENTIAL PRIVATE SECTOR 10.2BAJAJ ALLIANZ PRIVATE SECTOR 7BIRLA SUN LIFE PRIVATE SECTOR 4

KOTAK MAHINDRA PRIVATE SECTOR 0.8METLIFE PRIVATE SECTOR 3.0HDFC PRIVATE SECTOR 5.0

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MARKET SHARE

70%

10%

7%4%1%3% 5%

LIFE INSURANCE CO.

PUBLIC SECTOR

ICICI PRUDENTIAL

PRIVATE SECTOR

BAJAJ ALLIANZ

PRIVATE SECTOR

BIRLA SUN LIFE

PRIVATE SECTOR

KOTAK MAHINDRA

PRIVATE SECTOR

METLIFE PRIVATE

SECTOR

HDFC PRIVATE

SECTOR

Insurance Company Market Share (Fig. in%)

LIC 71.44

ICICI Prudential 11.35

Bajaj Allianz 7.06

HDFC Standard Life 2.37

SBI Life 1.81

Birla Sun Life 1.49

Max New York Life` 0.98

TATA AIG 0.79

Aviva 0.89

OM Kotak Mahindra 0.86

ING Vyasa 0.57

Reliance 0.37

MetLife 0.24

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LIMITATION

The following limitation that is incurred to the researcher while making theproject report:-

The first and the main is the time boundness. Because of the timeboundness of the project the data is not much more relevant for theproject.

Along with the time boundness there is a mass area which was notcaptured with in the given time.

The information which the researcher collected can be biased.

Perception of the people are different so that the information shouldnot be much more reliable.

According to the needs of the people, people thinks differ from other.

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CONCLUSIONS

The study, which I conducted on the analysis of marketing strategy ofMetLife Insurance India pvt. Ltd ., has been a great experience.

As the objective was to examine the marketing and public relationsdepartments of the leading Insurance Companies, the entire report has been

an effort to do just that. The insight obtained has been helpful inunderstanding what happens in the industry.The Indian Insurance Industry which for long had been dominated by LIC isnow coming of age, with the entry of new Insurance Companies entering themarket and relaxed regulations providing a conducive environment forlaunching new products and services.

Due to intense competition a wide range of services at the disposal of the

customer, these Insurance Companies are now rethinking their Marketingstrategies increase their market shares. Let us go in details of the variousdepartments of marketing and advertising.

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FINDING

STRENGTH

Strong infrastructure.

Backing from financial institution. MetLife insurance company is a joint venture between four bank and

four financial institute.

MetLife has 24% stake and the rest of 74% holding by the Indian

partner

Easy accessibility due to strong distribution network consisting of

branches and bancassurance.

Providing smart services all over the country.

Availability if various product line (choices for customer)

Trained and customer oriented staff. Maximum returns through various MMF fund investment plan.

Proving a customer oriented investment option for persons

Liquidity and flexibility of investment.

Better customer care services in comparison to other life insurance

companies.

More relaxation on paying of premiums.

Minimum penalty and foundations on paying of premium.

WEAKNESS

Lack of brand image

Promotion of the company is not good

Few financial Advisors comparable with LIC and ICICI Pru.

Number of offices are Less

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SUGGESTION

The rapid increase in competition and the never ending launches of newproducts and services describe the insurance sector of today.

This transformation has been because in order to attract a share of thefinancial market and to increase it over time, the companies are coming out

with strategies that are novel in nature. Tailor made schemes for nichesegments of the society are an attempt in this direction.However this is not the end of road. They should strive for introducing new

products and services and at the same time updating the old ones.

Problem posed by bouncing of cheque (difficulty in cheque

clearance).

Stringent terms and condition of insurance policies.

Insurance is product of solicitation.

Unavailability of MetLife Insurance branches in small cities, townsand rural area.

High amount of base premium.

Fear of policy lapse on not paying premium on right time.

Lack of faith amongst low income group customers.

Unit linked plans do not assure fixed returns.

Entry of global and national players in to life insurance sector poses

danger of greater competition and realignment of life insurancemarket.

Company should spent more in advertising

Company should expand their branches

Company should recruit more and more Financial Advisors

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BIBILOGRAPHY

BOOKS

PHILIP KOTLER MARKETING MGMT ANALYSIS PLANNING

TECHNIQUES AND CONTROL

C.R.KOTHARI RESEARCH METHODOLOGY

HAWKINS MARKETING RESEARCH

COOPER MARKETING RESEARCH

CUSTOMER BEHAVIOUR

METLIFE PRODUCT MODULE

WEBSITES

www.metlife.co.in

www.metlife.com

www.google.com

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QUESTIONAIRE

1. Name ____________________________

2. Age Group (Tick appropriate One)

20-25 25-30 3 0-35 35-40 40-45

45-50 50(Above)

3. Sex

Male Female

4. Do You Have any Life Insurance Policy (If Yes , Mention It) ?

5. Under which company policy you are taken ? (Mention the company name)

6. Which Policy you are taken ?a. ULIP b. Others

7. Do you heard about MetLife Insurance Company ?

a. yes b. no

8. From Where Did You Come To Know About MetLife?

(A) T.V / Media (B) Friends /Relatives

(C) Insurance Agents/Advisor (D) Investment

Agent/Brokers

9. Have you seen MetLife advertise ? ( If yes )

a. T.V b. Newspaper

c. Magazine d. Others

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10. Do you have any relative or friend who have any police of MetLife?

a. yes b.no

11.which insurance company advertise you can easily find ?

( Mention the company name)

12. Do You know about the benefits of being the advisor of a insurancecompany?

(A) yes (B) No

AddressPhone No.

____________________________________

____________________________________

____________________________________

Documents

Metlife Summer Mkt