PRESENTED BY:VARUN AGARWAL

A1802009115

CURRENT SCENARIO IN INDIAN LIFE INSURANCE WITH SPECIAL

REFERENCE TO AEGON RELIGARE

Industry Guide:Mr. Haris Rasheedi

Faculty Guide:Mrs. Payal Singh

OBJECTIVES

To understand various funds.

The project assigned to me has an objective to find and analyze the current scenario of Insurance Industry, covering the preferences of current as well as prospective customers.

The major part of the project also analyses the size of investment in various parts and mind set of the customers regarding this as well as the perceptions of customers towards major leading Insurance Industry players.

APPROACH TO THE PROBLEM

I have collected the data from the primary research and the secondary as well, to understand the current scenario for the Insurance Industry also keeping the Aegon Religare in mind. The size of the country combined with problems of connectivity in the rural areas, makes insurance selling in India a difficult proposition. The distribution capabilities strongly influence product design in insurance. The distribution channels have a direct impact on the insurer’s market image. Emergence of alternative channels such as Bancassurance and Internet is reshaping the insurance industry. India with a population of more than a billion people offers unlimited growth potential.

RESEARCH DESIGN

The data collected is Primary data and Secondary data.

Data CollectionData was collected by visiting Insurance

Industry Agents across Delhi and NCR .

Sample Size and Design:A sample of 50 people was taken on the basis

of random sampling.

Research Period: Research work is only carried for 2 or 3

weeks.Secondary Data: collected from the newspapers, expert

reports, internet and website, etc..Existing market scenario of Aegon Religare

market with respect to Insurance Industry.Customers views regarding Insurance Industry.Experts’ opinion regarding Indian and

contribution of Aegon Religare into it.

PRIMARY DATA: collected through questionnaire and Interviews

presented to the different agents customers and retailers.

Questionnaire – Structured Dichotomous, open ended, multiple

choice Personal Interview General Discussions

Tool Used:Bar Graph, Pie Diagram SAMPLING METHOD:Random Sampling chosen by the gathering of data SCALING TECHNIQUES likert scale base questionnaire.

Company Profile

It is a joint venture between AEGON(26%),RELIGARE(44%) AND BCCL(30%).

Started it’s operation in july 2008More then 100 branches over 50 CitiesMore than 1000 EmployeesFeatures 11 products

RELIGARE’S OTHER JOINT VENTURE

Religare Macquarie Wealth Management Ltd.

Vistaar Religare -The Film Fund Fortis Healthcare Limited Super Religare Laboratories Limited Religare Wellness Ltd.Religare Technova Ltd.Religare Voyages Ltd.

MAJOR COMPETITORS

LICICICIHDFCBIRLA SUL LIFEMAX NEW YORK BAJAJ ALLIANZ

What is an ULIP?

Investments linked insurance Plan.Life is insured as well as return on the

investments.Managed By IRDA (Insurance Regulatory & Development

Authority)

Various options are available Equity Funds Debt Funds Money Market Fund Balance Funds

Findings

There is very tough competition among the private insurance companies on the level of new trend of advertising to lull a major part of Customers.

AEGON RELIGARE is good in promoting their products. The entry of more Pvt. players in the Insurance Sector have

expanded the product segment. AEGON RELIGARE has vast market and very firm grip on its

traditional customers and monopoly of life insurance products..

IRDA, is also playing very comprehensive role by regulating norms mandating to private players in this sector, that increases the confidence level of the customers to the private players.

Suggestions

There is a need for other promotional measures to create awareness as it is a new company.

More returns should be provided on Insurance plans.

Tie up with the banks.

Limitations

Study was restricted to Gurgaon, Noida, Greater Noida, Vaishali and Indirapuram.

Study was restricted to Aegon Religare Insurance company

THANK YOU