Report of Summer Training

At

ON THE TOPIC

A Study of Consumer Behaviour in Relation to Insurance Products in

IDBI Federal Life Insurance Co Ltd

Submitted To:

Dr. R.C. Dalal

Industry guide: Submitted By:

Mr. Raj Singh Ankur Paul
Senior Manager Roll No.: 47
MBA Final - A
 PREFACE
For a management student, training plays an important role during his/her study. Training
provides a corporate or real-world platform to learn practically. M.B.A. degree without any
training or corporate world experience is just like life without oxygen.

So industrial training provides a great learning experience about management concepts and its
applicant. This training provides an opportunity to know the current market. To know the current
market situations, prevailing competition etc. It provides us a platform whereby we can apply our
theoretical knowledge and we can solve many practical problems. And hence it can help us to be
a successful manager in near future.

Thanks, to all those who helped me directly or indirectly to complete this project within a short
span of time. For preparation of this report I would like to thanks to faculty members of our
college and staff members of IDBI FEDERAL LIFE INSURANCE CO Ltd.
 ACKNOWLEDGEMENT

The meaning of adding this page at the beginning of my project is much than a clique
acknowledge page. As this study comes to an end I feel indebted to all those who have lent a
helping hand during my research.

I owe immensely to my faculty mentor Mr. Raj Singh for his valuable time, guidance and
encouragement during the entire period.

I also want to express my sincere gratitude to Prof. R.C Dalal and Dr. Shruti for suggestions and
conceptual knowledge imparted by them during my project.
Cert.
 DECLARATION

I hereby declare that the project work entitled “A Study of Consumer Behaviour in
Relation to Insurance Products” submitted to the Kurukshetra University, Kurukshetra
is a record of an original work done by me under the guidance of Prof. R.C. Dalal,
Chairperson University school of Management, KUK and this project work is submitted
in the partial fulfilment of the requirement for the award of the degree of Masters of
Business Admiration.
 EXECUTIVE SUMMARY

A Study of Consumer Behaviour in Relation to Insurance Products in IDBI Federal is

about acquiring the knowledge which determines the behaviour of the customer towards the
decision making of buying the insurance products. Study deals with the factors that customer
thinks while going through the insurance product details to buying it.

Influencing the ways that people act in their daily consumption lives is a concern for researchers
in a number of disciplinary areas, including consumer behaviour psychology, sociology and
marketing.

This project is focused on analysing the Internal and the External factors which aim at
determining the customers buying behaviour towards insurance products. It is mainly focused in
trying to understand the various factors responsible for the buying decision. Understanding these
factors is a critical task. The purchase decision in general is prompt by number of factors viz.
Psycho graphical, Economical, Socio Political, Legal and Demographical. There are certain other
factors which need to be understood while keeping in mind the investment decisions made by
customers, such as, Customer Buying Behaviour, Customer Preferences and Perception, Brand
Loyalty etc.