Project Continu Jp

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1.3 INDUSTRY PROFILE

Insurance in India

The insurance sector in India has come a full circle from being an open competitive market to

nationalization and back to a liberalized market again. Tracing the developments in

the Indian insurance sector reveals the 360 degree turn witnessed over a period of almost two

centuries.

A br ief history of the I nsurance sector

The business of life insurance in India in its existing form started in India in the year 1818 withthe establishment of the Oriental Life Insurance Company in Calcutta. Some of the important

milestones in the life insurance business in India are:

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life

insurance business.

1928: The Indian Insurance Companies Act enacted to enable the government to collect

statistical information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective

of protecting the interests of the insuring public.

1956: 245 Indian and foreign insurers and provident societies taken over by the central

government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act,

1956, with a capital contribution of Rs. 5 crore from the Government of India. The General

insurance business in India, on the other hand, can trace its roots to the Triton Insurance

Company Ltd., the first general insurance company established in the year 1850 in Calcutta by

the British. Some of the important milestones in the general insurance business in India are:


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1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of

general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of India, frames a Code

of conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum

solvency margins and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general

insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and

grouped into four companies viz. the National Insurance Company Ltd., the New India

Assurance Company Ltd., the Oriental Insurance Company Ltd.and the United India Insurance

Company Ltd. GIC incorporated as a company.

The Insurance Regulatory and Development Authority

Reforms in the Insurance sector were initiated with the passage of the IRDA Bill in Parliament

in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has

fastidiously stuck to its schedule of framing regulations and registering the private sector

insurance companies.

The other decision taken simultaneously to provide the supporting systems to the

insurance sector and in particular the life insurance companies was the launch of the IRDAs

online service for issue and renewal of licenses to agents.

The approval of institutions for imparting training to agents has also ensured that the insurance

companies would have a trained workforce of insurance agents in place to sell their products,

which are expected to be introduced by early next year. Since being set up as an independent

statutory body the IRDA has put in a framework of globally compatible regulations. In theprivate sector 12 life insurance and 6 general insurance companies have been registered.


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1.4 COMPANY PROFILE

Tata AIG Life Insurance Ltd.

Tata AIG Life Insurance Company Limited (Tata AIG Life) is a joint venture company, formedby the Tata Group and American International Group, Inc. (AIG). Tata AIG Life combines the

Tata Groups pre-eminent leadership position in India and AIGs global presence as one of the

worlds leading international insurance and financial services organization. The Tata Group

holds 74 per cent stake in the insurance venture with AIG holding the balance 26 per cent.

Tata AIG Life provides insurance solutions to individuals and corporate. Tata AIG Life

Insurance Company was licensed to operate in India on February 12, 2001 and started operations

on April 1, 2001.

Companys Mission

We focus on the needs of our customers and create confidence, trust and loyalty by offering a

wide range of innovative insurance solutions.

Strengthened by our commitment to professional management, we ensure the continued growthand advancement of our employees.

Companys Vision

Tata AIG Life Insurance has a deep rooted commitment to improve the quality of life of its

customers, employees and stakeholders. We aim to be the most preferred General Insurance

Company. We do this by our efforts which strive to make Tata AIG Life Insurance a corporate

with values.

Increase Customer Value.

Integrated efforts
http://www.kotaklifeinsurance.com/http://www.kotaklifeinsurance.com/http://www.kotaklifeinsurance.com/http://www.kotaklifeinsurance.com/http://www.kotaklifeinsurance.com/http://www.kotaklifeinsurance.com/


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The T ATA Group

Tata is a rapidly growing business group based in India with significant international

operations. Revenues in 2011-12 are USD 62.5 billion (around Rs. 251,543 crores), of which

61% was from business outside India. The Groups Net Profit for 2011 -12 is USD 5.4 billion

(around Rs. 21,578 crores). The Group employs around 350,000 people worldwide.

The business operations of the Tata Group currently encompass seven

business sectors - Communications and Information Technology, Engineering, Materials,

Services, Energy, Consumer Products and Chemicals. The Group's 28 publicly listed

enterprises have a combined market capitalization of around $60 billion, among

the highest among Indian business houses, and a shareholder base of 2.9 million. The major

companies in the Group include Tata Steel, Tata Motors, Tata Consultancy Services (TCS),

Tata Power, Tata Chemicals, Tata Tea, Indian Hotels, Tata Teleservices and Tata

Communications.

AIG Group

American International Group, Inc. (AIG), a world leader in insurance and financial services,

is the leading international insurance organization with operations in more than 130 countries

and jurisdictions. AIG companies serve commercial, institutional and individual

customers through the most extensive worldwide property-casualty and life insurance networks

of any insurer. In addition, AIG companies are leading providers of retirement services,

financial services and asset management around the world. AIG's common stock is listed on the

New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
http://www.kotak.com/http://www.kotak.com/http://www.kotak.com/http://www.kotak.com/http://www.kotak.com/


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1.5 ORGANIZATION STRUCTURE

CEOCEO

FINANCE

MANAGER

GENERAL MANAGER

ZONAL MANAGER

MARKETING

MANAGER

HUMAN

RESOURCE

OPERATION

MANAGER

REGIONAL

MANAGER

CLUSTER

MANAGER

BRANCH

MANAGER

CASHIER

REGIONAL

MANAGER

CLUSTER

MANAGER

BRANCH

MANAGER

BUSINESS

ASSOCUATIO

AGENT

REGIONAL

MANAGER

REGIONAL

MANAGER

CLUSTER

MANAGER

CLUSTER

MANAGER

BRANCH

MANAGERBRANCH

MANAGER

ASSISTANT ASSISTANT

TRAINNER


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CHAPTERII

2.1 RESEARCH METHODOLOGY

The research is carried on in a proper planned and systematic manner.

This methodology includes:

Familiarization with the concept of insurance and its various terms.

Thorough study of the information collected.

Conclusions based on findings.

The research methodology which is adopted to conduct this study are both qualitative as

well as quantitative.

Qualitative

In order to identify the insurance needs of the Indian population with respect to their

emotional, physical & financial conditions and to match the needs of the population with

the products in hand require to conduct the qualitative study.

Quantitative

In order to understand the market segmentation of insurance products and to study

the

various factors which influence the purchase decision of insurance products require the

quantitative study.

REVIEW OF LITERATURE

BACKGROUND OF THE PROBLEM

The entire Insurance sector is divided into 2 broad categories:

General Insurance Life Insurance


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Further Life Insurance is sub-divided into two categories:

TRADITIONAL INSURANCE PLANS

ULIPS (Unit Linked Insurance Plans)

Traditional products are basically the term plans and the whole life plans, in which risk

cover is the foremost objective of the customers. In case of term plans the sum assured is given

to the nominee of the life to be insured in case of his death, there is no maturity claim, whereas

in case of whole life some amount is paid after a certain period of time.

ULIPS were introduced couple of years back in the Indian market. These include the

endowment policies and money back policies that have the investment benefit along with the

risk cover i.e. the certain portion of the premium paid by the customer is used for the risk cover

and rest is further invested in the funds offered by the company.

So when the private players entered the market they decided to introduce market driven

plans named ULIP which promised a very attractive return to the consumers. Birla Sun Life was

the first company to establish the concept of ULIP. Though this concept was very attractive but

still a number of policies got lapsed, then the private players came up with an idea of 3 years

lock in period, so that number of policies lapsing could be reduced, which worked well.

Now since the expectations of investors have increased who are investing their money,

so the money flow in mutual funds and stock market has increased gradually because the returns

are as high as 25% - 30%. But still Life Insurance is Safe Avenue while

promising you good returns, this would be clear from the following points:

Returns in ULIPs are also as high as 25% - 30%, while it also gives life cover in case

of mishappening such as death, disability, etc.

Risk in ULIPs is less as compared to mutual funds and stock market, as ULIPs offer

different funds with different combinations of debt and equity.


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Fund management fee in ULIPs is 1.25% as compared to the fee in mutual funds

2.5%.

The entire fund of the investor can be eroded under mutual fund if market crashes,

but under ULIPs at least principle amount plus bank rate is guaranteed.

ULIPs provide insurance cover as well as good returns.

Capital gains are not taxable under ULIPs.

Most companies offering ULIPs provide a number of free switches to its investors,

if they would like to switch their funds, but these switches are chargeable under mutual

funds.

Most of the investors in the Indian market are not aware of these benefits of LifeInsurance, but as the awareness is increasing more and more investors are joining this sector,

resulting in increased turnover year over year.

RESEARCH DESIGN

DESCRIPTIVE RESEARCH

This study is based on a descriptive research design wherein the risks and returns associated with

the various products have been studied and the reasons for customer perception regarding these

products have been found out.

SAMPLE DESIGN

As the research is based on analyzing the consumer preference among various investment

avenues in the market such as stock market, mutual funds, life insurance, fixed deposited., for

that a sample size of 100 was taken , which was picked up on random basis for the purpose of

survey. Simple Random Sampling has been adopted to conduct this study.

SAMPLE UNIT

The sample unit considered for this study is Investor who invests in various avenues available in

the market. The respondents have been selected from the Universe defined above.


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SOURCES OF DATA COLLECTION:

Both the Primary and Secondary sources have been used to collect the desired data for the

study.

Primary data collection has been done through the means of:

Questionnaires- In order to get the primary data, a close ended questionnaire has

been design to conduct the study.

Interviews- In addition to the questionnaire, some other relevant questions were

also asked to get the information regarding their marked choices.

Secondary data: These include books, the internet, company brochures, product brochures, the

company website, competitors websites etc, newspaper articles.


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2.2 OBJECTIVES OF THE STUDY

The objectives mark the right direction to carry out any study. So, the objectives of this study are

as under:-

To learn and understand the market segmentation of insurance products.

physical and financial conditions.

To study the various factors which influence the purchase of insurance products

To match the needs of the population with the products in hand or else design a new

product.


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2.3 scope of the study

In the present scenario as our economy is growing and the per capita income is rising

people at large have got more money with them to invest in the market, who according to their

choice invest in share market, government bonds, life insurance, mutual funds, real estate.

If a consumer chooses to invest in mutual funds there are 33 mutual fund

companies, if one chooses to invest in stock market there are hundreds of companies listed on

the stock exchange, if he chooses to invest in life insurance there are 16 companies

present such as ICICI PRUDENTIAL., AVIVA LIFE INSURANCE, KOTAK LIFE

INSURANCE, SBI LIFE INSURANCE, TATA AIG LIFE INSURANCE, LIC, BAJAJ

ALLIANZ, etc.; so in order to study the consumer preferences, the various factors


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2.4 LIMITATION OF THE STUDY

By working on this project, a lot of knowledge about the insurance sector in INDIA has been

gained. However, there were many limitations or problems that I faced while

working on this project. The following are the limitations:

Small Sample Size: The study was relied more on the primary data and the data was

collected from a small population of 100, therefore, the findings may not be applicable in their

true sense when it is applied in general.

Time Constraint: As the duration of internship was only 7 weeks, therefore, it was verydifficult to conduct the entire study about the vast insurance sector

Small Universe: The study is restricted only to some areas of salem which ignores

the entire public in general

Biased Responses: The answers of the customers could have been biased which may

affect the analysis of the study.

There are fewer co-operation from the employees of the organization. Time limitation. Research has been done only in salem Companies did not disclose their were no proper solution given to the employees. It has limited to TATA AIA life insurance company Ltd. It can be used for a short period of time.


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CHAPTER - III

3.1 Financial analysis

General Manager

Assistant manager

Sales manager

Business development

manager

Sales representatives

Sales Representatives

Marketing manager


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Insurance distribution:

1.Direct marketing channels

2.Indirect marketing channels

Direct marketing Channels:

A direct marketing channel may be involve a sales force employed by the insurer and

will certainly includes

The activity of the insures full time staff based in the office. Advertising will focus on the target

audience, whether it is done through television, email marketing, news papers hoardings oronline advertising , the contract is concluded between the insurances company and the insured

with no middleman.

E-SALES:

e-mail refers to sales of insurance products through the internet this channel for the sales of

insurance product is relatively new in india but is fast catching up with more trational methos.

For some time insurance companies have been using online payment get ways to collect renewal

premiums and their websites to solict sales enquiries for the insurance product, but it was only

late in 2009 that insurance companies in india introduced products that are exclusively sold via

the internet because this online products are being sold directly to end customer, with no

intermediaries, insurance companys can sell this product much cheaper, as the intermediary

commissions are eliminated.

INDIRECT MARKET CHANNELS:

Although, as we have seen online insurance sales are increasing at fast rate, intermediaries still

make a major contribution to the sale of insurance company product. Intermediaries include the

following


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INDIRECT MARKET CHANNELS

Individual agents Banc assurance Comparison websites Insurance brokerso Direct brokerso Re-insurance brokerso Composite broker


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2. HUMAN RESOURCE DEVELOPMENT:

General Manager

Zonal head

Branch manager

Cluster head

Chief Human resource Manager

Regional manager

Assistant

Trainer


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Personnel function is the basic function of this department. This is mainly done to get effective

result from peoples. TATA AIA life insurance have a very efficient HR department, Which

control and co- ordinate the activeties of the entire org. TATA AIA life insurance have 15

managers, 25 office staffs, and 90 active financial consultants. Besides these employees around

25 trainees are working in the firm.

WORKEING TIME

The working time is from 9:00am to 6:00pm. Sunday is off day for all staffs.

FUNCTION

Recruitment and production:

Promotion is advancement of an employee to a better job better in term of greater

responsibility, more prestige or stats, greater skill and especially increased rate of pay salary.

Performance evaluation:Evaluation is the process of systematically assessing the design, implementation and impact

of programs , polices or projects, The evaluation process employs many of the research

methods used in social sciences research to demine the impact of public programs and polices.

Provide training to employees:Training is the act of insurance the knowledge and skill of an employee for doing a

particular job.

Payment of wages and other benefits:The terms salary and commission is defined as the remuneration paid to the clerical and

managerial employee don monthly or weekly basis.


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FINANCIAL DEPARTMENT CHART:

General Manager

Cluster head

Regional manager

Zonal head

Chief Finance manager

Accountants

Cashier


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Finance is the life blood of any business . Without finance neither any business can be

started nor successfully run. Hence finance function is the most impotent function of all

business. So finance department assures of an organization. Chief finance officer is the head of

finance department. The finance department is fully computerized to avoid any kind of

manipulation. Five accountants are responsible for maintaining the accounts. Two cash officer

and a cashier is the person who maintains the record of daily expenditure and income.

FUNCTIONS

Budget preparing.Preparing the yearly financial plan for the company.

Conducting audit workFinance manager has conducting the audit for the recording known the financial health of

the company.

Taxation.Paying all Tax

CollectionThe major responsibility of this department is to collect cheques from the customers.


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3.2 SWOT ANALYSIS

Strengths

Disciplined fund management - Years of experience in asset management, and a strong

track record in managing funds.

Innovative - Known for being an innovator in providing world-class pragmatic financial

solutions, with a constant focus on customization and flexibility

Customer Satisfaction - A highly committed sales force, with customer

satisfaction as the key driving force. Transparency in Services - Daily declaration of fund performances, regular

performance benchmarking, well regulated asset management, and monthly newsletter

on market updates.

Weaknesses-

EmployeesLess number of personnel

Tata AIG Life Insurance employs around 4328 people in its various businesses and has

112 branches across 134 cities as compared to ICICI Prudential has 735 offices, 22 Bank

assurance partners and over 2.4 lakh advisors therefore it should increase its offices.

Training Department Tata AIG Life Insurance has a limited number of

trainers in its branches, because of which advisors are not properly trained, so it should work on

developing its training department.


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Opportunities

India's economic development made it a most lucrative Insurance market in the world

and post liberalization the entry of foreign partners has been allowed.

Life Insurance industry is growing at an unprecedented pace so to survive in the Industry

they should analyze the emerging requirements of the policyholders / insurers and they are

in the forefront in providing essential services and introducing novel products.

Thereby they can become niche specialists, who provide the right service to the right

person in right time

The impact of Information Technology in Insurance business is being felt at an

accelerating pace. In the initial years IT has been used more to execute back office functions like

maintenance of accounts, reconciling broker accounts, client processing etc. With the advent of

"database concepts", these functions are better integrated in an administrative efficiency.

The real evolution is however emerged out of Internet boom. The Internet has provided

brand new distribution channels to the Insurers. The technology has enabled the Insurer to

innovate new products, provide better customer service and deeper and wider insurance

coverage to them.In the present competitive scenario, a key differentiator is the professional

customer service in terms of quality of advice on product choice along with policy servicing.

Servicing focus is on enhancing the customer's experience and maximizing his

convenience. This calls the effective CRM system, which eventually creates sustainable

competitive advantage and enables to build long lasting relationship.


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Threats

Private and Foreign entrants in the Insurance Industry made others difficult to retain their

market. Higher customer aspirations lead to new expectations and compel him to move towards

the insurer who provides him the best service in time. It becomes less viable for them even to

maintain the functional networks or competitive standards and services.

With the entry of private and foreign players in the Insurance business, people have got a

lot of options to choose from. Radical changes are taking place in customer profile due to the

changing life style and social perception, resulting in erosion of brand loyalty.


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3.3 PORTERS FIVE FORCES MODEL

Porters five forces model helps in accessing where the power lies in a business situation.

Porters model is actually a business strategy tool that helps in analysising the attractiveness in

an industry structure. It let you access current strength of your competitive position and the

strength of the position that you are planning to attain.

Porters model is considered an important part of planning tools set. When youre clear

about where the power lies, you can taken advantage of your strength and can improve the

weaknesses and can complete efficiently and effectively.

Porters model of competitive forces assumes that there are five competitive forces that

identify the competitive power in a business situation. Theses five competitive forces identified

by the Michael Porter are:

1.Threat of Substitute products

2. Threat of new entrants

3. Intense rivalry among existing players

4. Bargaining power of suppliers

5. Bargaining power of Buyers


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1.Threat of substitute products:

Threat of substitute products means how easily your customer can switch to your

competitors product. Threat of substitute is high when:

o There are many substitute products availableo Customber can easily find the products or serives that youre offering at the same or less

Price

o Quality of the competitors product is bettero Substitute product is by a company earning high profit so can reduce prices to the lowest

Level

In the above mentioned situations, Customer can easily switch to substitute Products. So

substitutes are a threat to your company. When there are actual and potential substitute product

available then segment is unattractive . profits and prices are affected by substitutes so, there is

need to closely monitor prices trends. In substitute industries, if competition rises or technology

modernize then prices and profits decline.

Industry

Rivalry

potential Entrants

(Threat of Mobility)

Buyers

(Buyers power)

Substitutes

(Threat of

substiutes)

Suppliers

(supliers power)


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2. Threat of new entrants

A new entry of a competitor into your market also weakens your power. Threat of

new entry depends upon new entry and exit barriers. Threat of new entry is high when:

o Capital requirements to start the business are lesso Few economies of scale are in placeo Customers can easily switch (low switching cost)o Your key technology is not hard to acquire or isnt protected wello Your product is not differentiated

There is variation in attractiveness of segments depending upon entry and exit barriers. That

segments is more attractive which has high entry barriers and low exit barriers.

Some new firms enter into industry and low performing companies leave the market easily.

When both entry and exit barriers are high than profit margin is also high but companies face

more risk because poor performance companies stay in and fight it out. When these barriers are

low then firms easily enter and exit the industry, profit is low. The worst condition is when

entry barriers are low and exit barriers are high then in good times firms enter and become very

difficult to exit in bad times.


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3.Industry Rivalry

Industry rivalry means the intencity of competition among the existing competitors in

the market. Intencity of rivalry depends on the number of competitors and their capabilities.

Industry rivalry is high when:

o There are number of small or equal competitors and less when theres a clear marketleader.

o Customer have low switching costso Industry is growingo Exit barriers are high and rivals stay and competeo Fixed cost are high resulting huge production and reduction in prices

These situation make the reasons for advertising wars, price wars, modifications,

ultimately costs increase and it is difficult to compete.

4. Bargaining power of suppliers

Bargaining power of supplier means how strong is the position of a seller. How

much your supplier have control over increasing the price of suppliers. Suppliers are

more powerful when

o Supplier are concentrated and well organizedo A few substitutes available to supplieso Their product is most effective or uniqueo Switching cost, from one suppliers to another, is higho You are not an important customer to supplier

When suppliers have more control over supplies and its prices that segment is less attractive. It is

best way to make win-win relation with suppliers. Its good idea to have multi-sources of supply.


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5. Bargaining power of buyers

Bargaining power of buyers mean, how much control the buyers have to drive down your

product price, can they work together in ordering large volumes. Buyers have more bargaining

power when:

o Few buyers chasing too many goodso Buyer purchases in bulk quantitieso Product is not differentiatedo Buyers cost of switching to a competitors product is lowo Shopping cost is lowo Buyers are price sensitiveo Credible threat of integration


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CHAPTER-IV

4.1 FINDINGS:

In this company mainly focus on life insurances. India is also unique with regard toavailability of large production of insurance.

The overall organization effectiveness of the tata aia life insurance itd was satisfied.

The employees have a good opinion about the training and development program conductby the company

A good welfare facility provided to the employees in this company.

They provide mess facilities to the employees.

Competitiveness and the demand for insurance products is raising and production is alsoincreasing.

Proper training was given to the workers because of that workers fully satisfied abouttheir work.

The production level was increase because of sales increasing.

Identified the various administrative structure of the organization.

Researcher fount various activates of the organization.

Identified the rationalization of authority structure in the organization.

Identified employer- employee relationship in the organization.


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Agents advises are given high priority in decision making by the people who have takeninsurance. Out of 100 respondent 51 have their first preference especially.

Agents salesmanship and explanation about insurance products are influencing thedecision process. 57 respondents have chosen the desirable traits of the agent are friendly

approach, easy to access etc, regular communication with the insured after sale of

insurance product is the most important preference by the people. 64 represents have

given first preference to it.

On financial motivation perception of savings is given the prime position that influencesthe decision process in selecting an insurance product. 44 respondents have given first

preference to it the second influential factor is ownership of insurance company.

Government owned companies get reputation quickly due to belief on creditability.

Private companies also of late started getting adequate creditability. 90 respondent have

given first preference to it.

Growth in asset value is given important factor that stimulate people in opting forinsurance product. 74 respondents have given first preference to growth of asset valuepeople are interested in insurances investments. But identification of company its

standing type of company its standing type of product to select poses uncertainty in final

decision making.

o Of the different mode of payment duration, out of 36 respondents have given firstpreference to quarterly premium duration. 10 to 15 years polices are the most desirable

terms of insurance.45%have given first preference to it. The marital status of the

respondents does influence the decision process in selecting an insurance product.

o The number of family member has more influence in the decision selecting an insuranceproduct. 77%of respondents with family size or 2-4 preferred to take insurance product.

Wealthier people have less interest towards insurance.


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o Age and saving habits influences in the decision process in selecting an insuranceproduct. The periodicity of payment of premium and of policy do not influence in the

decision process selecting an insurance product.

4.2 suggestions


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o The company has very good scope for expansion but still they are maintaining same levelof business to handling the new marketing strategies concept. So authority structure will

make the organization to grow more.

o The employee turnover in lower level management is very high that should be avoidedimplementing the strategies to the reduce the employee turnover.

o They can have cordial relationship with the employee particularly lower level employee.o These TATA AIA life insurance companies make an effort to increase the product

awareness among the customers way of advertising to easy and attractive manner use new

strategies.

o The company can motivate the sales agents and good care of customer services.o Give new innovating of advertising increase the sales turnover.o Provide the more welfare facilities to the all employee to achieve the employee satisfaction.o The influence of agent on the people to take insurance product is playing a significant role.

Agent is expected to play a positive role in after sakes of insurance product.

o The company should have evolved strategies in marketing their insurance product. In viewof them agents coverage and explanation on insurance to influence the decision process.

o Agent is to be trained in communication skills and theory of insurance affectively, keepingthe target groups traits on focus.

o Keeping in view a desirability of insurance as saving product. Investment decision shouldbe high growth oriented to target of with policies and quarterly premium dues. The target

group is the middle income and low income.

4.3 conclusions


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As we know from the beginning the researcher observed the structure of organization and

various authority levels and hoe do employees working there, working condition and

environment also analyzed. Hence the company has very good scope of development there no

deviation in the authority of the organization.

The Tata aia life insurance company study about the marketing strategies re framing the

our strategies. Based on customer and employees convenience.

The project entitled organization study with reference to TATA IA LIFE INSURANCE;

Salem town gives information about the organization. The study was conducted of 30 days.

The study gives information about the organizational structure of the company, and

different department function. The co-operation and interaction extended by the employees and

the management of TATA AIA LIFE INSURANCE; Salem town have made it possible for the

depth organizational study, which would be of much useful for the research in the future.

After making an in depth study about the Tata AIG Insurance Co., have come to the

conclusion that there have been tremendous changes in the Insurance History. And with it there has been

continuous growth in this sector both in Indian as well as world context. The opening up of Insurance

Sector has changed the whole look of Insurance Industry.

A joint venture between Tata and AIG has shown a positive progress in Insurance Industry. Tata

AIG has been growing year after year and this company has made a strong position in India. It has

become the number one company in customer

The game is old but the rules are new and still developing. The same strategy adopt by Tata AIG.

Insurance Agent has a career growth opportunity in this Insurance Co. as compare to other Insurance Co.

An Insurers advisor of Tata AIG can earn a big and stable income by being a part of Tata AIG

Insurance Company.


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APPENDIX

BIBLIOGRAPHY:

o WWW.TATAAIGINSURANCE.COMo WWW.TATA.COMo WWW.AIG.COMo WWW.INSURANCE.COMo WWW.GOOGLE.COMo WWW.YAHOO.COMo COMPANY PROVIDED MATERIALo TEXT BOOK FOR LIFE INSURANCE PRESCRIBED BYIRDA.o TATA AIG BROSHERSo MAGAZINES AND NEWSPAPERSo COMPANY LITERATUREo MARKETING RESEARCH

REFERENCE:

o Organization behavior Dr.S.S.KHANKAo Principles of management by tony mordent.o Principles of management by V.S, BAGAT.
http://www.tataaiginsurance.com/http://www.tata.com/http://www.aig.com/http://www.insurance.com/http://www.google/http://www.yahoo/http://www.yahoo/http://www.google/http://www.insurance.com/http://www.aig.com/http://www.tata.com/http://www.tataaiginsurance.com/


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