NAME: SHRUTI KHANNA

COURSE: MBA-3-B
SPECIALIZATION: MARKETING & IB
ROLL NO. :95
COMPANY: BHARTI AXA LIFE
INSURANCE
LOCATION: DWARKA, NEW DELHI
DURATION: 15-05-2010 – 15-07-2010
TITLE OF THE PROJECT:

CONSUMER PERCEPTION OF
INSURANCE SECTOR WITH
SPECIAL REFERENCE TO BHARTI
AXA
BRIEF ABOUT THE INSURANCE SECTOR

THE BUSINESS OF INSURANCE IN INDIA STARTED IN 1818 WITH THE

ORIENTAL LIFE INSURANCE COMPANY. INSURANCE CAN BE DIVIDED
INTO 3 CATEGORIES:
A) LIFE INSURANCE
B) GENERAL INSURANCE
C) HEALTH INSURANCE

LIFE INSURANCE IS A CONTRACT FOR A SUM OF MONEY TO THE

PERSON ASSURED ON THE HAPPENING OF THE EVENT INSURED
AGAINST. USUALLY THE CONTRACT PROVIDES FOR THE PAYMENT OF
AN AMOUNT ON THE DATE OF MATURITY OR AT SPECIFIED INTERVALS
OR AT AN UNFORTUNATE DEATH. THE CONTRACT ALSO PROVIDES
FOR PAYMENT OF PREMIUM PERIODICALLY TO THE CORPORATION BY
THE ASSURED.
COMPANY BRIEF:
BHARTI AXA LIFE INSURANCE IS A JOINT VENTURE
BETWEEN BHARTI, ONE OF THE INDIA’S LEADING GROUPS
WITH INTEREST IN TELECOM, AGRICULTURAL BUSINESS
AND RETAIL & AXA , WORLD LEADER IN FINANCI AL
PROTECTION & WEALTH MANAGEMENT.
THE JOINT VENTURE HAS 74% STAKE FROM BHARTI AND
26% STAKE FROM AXA.

VALUES:

INNOVATION PRAGMATISM
PROFESSIONALISM TEAM SPIRIT
INTEGRITY
OBJECTIVES:
 TO STUDY THE PERCEPTION OF
CONSUMERS ABOUT INSURANCE SECTOR.
 TO KNOW THE VARIOUS LIFE
INSURANCE PLANS AVAILABLE IN THE
MARKET.
 TO COMPARE THE PRODUCTS &
SERVICES OF BHARTI AXA WITH ITS
COMPETITORS.
RESEARCH METHODOLOGY:

• I HAVE USED DICHOTOMOUS AND MULTIPLE

CHOICE QUESTIONS IN MY SURVEY
•RATING SCALE IS ALSO USED.
• I HAD COVERED VARIOUS PARTS OF DELHI
FOR MY SURVEY.
• MY SAMPLE SIZE IS 100 WHICH INCLUDES
DIFFERENT AGE GROUPS, DIFFERENT GENDERS
AND DIFFERENT PROFESSIONS.
 LIMITATIONS:
 AREA COVERED WAS CONFINED TO
SOME REGIONS ONLY.
 PEOPLE WERE RELUCTANT TO GIVE
THEIR OPINION.
 AVAILABILITY OF DATA TO CONTACT
PEOPLE WAS A PROBLEM.
SOME OF THE PEOPLE DINT FILL THE
SURVEY FORM SERIOUSLY.
FINDINGS:
1. MOST OF THE PEOPLE PREFERRED LIC OVER PRIVATE.
2. IN CASE OF PRIVATE COMPANIES, MANY HAVE TRUSTED
HDFC, BHARTI AXA & METLIFE.
3. THE MOST INSPIRING FACTOR FOR TAKING LIFE
INSURANCE IS RISK COVER & INVESTMENTS FOLLOWED
BY LONG TERM GAINS & TAX SAVINGS.
4. MOST OF THE PEOPLE ARE NOT INTERESTD IN
KNOWING MUCH ABOUT THE INSURANCE.
5. MOST OF THE PEOPLE WERE DIPLOMATIC IN
ANSWERING WHETHER BHARTI AXA IS BETTER THAN ITS
COMPETITIORS OR NOT.
6. CONSUMERS WERE SATISFIED WITH BHARTI AXA
RETURNS, RISK COVER & SERVICES.
CONCLUSION:
 INSURANCE SECTOR IS ONE OF THE OLDEST
INDUSTRIES OF INDIA.

 PRIVATE COMPANIES HAVE TO GIVE VARIOUS

CUSTOMIZED PRODUCT TO COMPETE WITH LIC
WHICH HAS THE LARGEST SHARE.

 THE PROMOTIONAL STRATEGIES OF HDFC HAS AN

EDGE OVER BHARTI AXA, METLIFE & ICICI WHICH
MAKES IT A WINNER IN PRIVATE COMPANIES.
 H A N K
T
Y O U