7/28/2019 Synopsis Birla Sunlife Insurance
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OUTLINE OF THE PROJECT
Proposed Topic of the Project ANALYSIS OF FINANCIAL STATEMENT
OF
BIRLA SUNLIFE INSURANCE
Objectives of the Project To examine the psychographics of
insurance customers.
To probe the buying behaviour of
insurance customers.
To find people expectations or satisfactionregarding the
insurance.
To judge the awareness level of insurance
Industry.
Company Details Birla SunLife Insurance Company Ltd. is a
joint
venture between New York Life, a Fortune 100company and Max
India Limited, one of India's
leading multi-business corporations. The company
has positioned itself on the quality platform. In line
with its vision to be the most admired life insurancecompany in
India, it has developed a strong
corporate governance model based on the corevalues of
excellence, honesty, knowledge, caring,
integrity and teamwork. The strategy is to establish
itself as a trusted life insurance specialist through aquality
approach to business.
Birla SunLife Insurance is the first life insurance
company in India to be awarded the IS0
9001:2000certification.
Birla SunLife Insurance was among the top 25companies to work
with in India, according to 2003
Business World magazine, "Great Workplaces In
India", Birla SunLife Insurance was ranked at the20th position.
This survey is the local version of the
"Great Places To Work" survey carried out every
year in 22 countries. It is among top five most
respected private life insurance companies in Indiaaccording to
a 2004 Business World survey.
Industry Details The story of insurance is probably as old as
thestory of mankind. Tendency of a human being tosecure themselves
against loss and disaster has been
from the starting of world. They sought to avert the
evil consequences of fire and flood and loss of lifeand were
willing to make some sort of sacrifice in
order to achieve security. Though the concept of
insurance is largely a development of the recent
past, particularly after the industrial era past fewcenturies
yet its beginnings date back almost 6000
years as per records.
7/28/2019 Synopsis Birla Sunlife Insurance
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RESEARCH METHODOLOGY
Research TypeExploratory
Descriptive
Analytical
Conclusive
Source of Data
Primary and Secondary
Only Primary
Only Secondary
Method of Date CollectionInterview
Questionnaire
Observation
Sample Size 30
Tools of Data ANALYSISStatistical
Descriptive e.g. Mean Mode Median, StandardDeviations
Analytical
TENTATIVE FINDING OF THEPROJECT
To be successful in marketing of insurance
products, the entire business scenario has to
be taken into account.
During the study to be found that majorityof people are aware of
life insurance sector.
During the survey it was observed that
major source of information for consumer
are television and newspaper and least
preference are given to magazines, agents
and friends.
Attractive schemes and brand image are the
most important factor that influences the
buying behavior of the consumers.
