A

DISSERTATION REPORT
ON
BUYERS ATTITUDE TOWARDS
PRODUCT
OF LIC IN RUDRAAPUR

Submitted To: -
Submitted By:-
Ms. SHALLU ARORA ROHIT
BHATIA
(Lecturer of MGMT Deptt.) M.B.A.
IIIrd Sem.
Roll
No.09290500055

Affiliated to Uttarakhand Technical University,

Dehradun

PREFACE

Theory and practice are the two aspects of management

education. In order to produce a dynamic and promising executive,
the two have to be blended together. In India, the dissertation
report in the domain of management courses has received pivotal
importance. It exposes the potential manager to the actual work
environment and provides them a rich insight into what actually
goes on in the industrial climate of India. Infact it is the
implementation of theory in practice is the life force of
management.
I must say that the management provided me with an excellent
work atmosphere for learning.

The report I worked was

BUYERS ATTITUDE TOWARDS PRODUCT OF LIC IN RUDRAAPUR

DECLARATION

I hereby declare that the Dessertation Report “BUYERS ATTITUDE

TOWARDS PRODUCT OF LIC IN RUDRAAPUR “submitted to
Saraswati Institute of Management & Technology, Rudrapur in
partial fulfillment of the requirement for the degree of Master of
Business Administration is my original work and not submitted for
the award of any other Degree, Diploma or other similar title or
prizes.
Place: Rudrapur Rohit
Bhatia
Date:

ACKNOWLEDGEMENT

I wish to express my heartfelt Gratitude to LIC. (RUDRAPUR) for

extending co-operation and guidance to me.

This is a combined effort of so many people both inside and

outside of the organization without their help it would have been
very difficult for me to the present shape to the project.
The successful completion of this report in very short time has
been possible due to the personal interest taken by Mrs. Pooja
Johari (HOD Management Department), , Ms. Shaalu Arora, Faculty
of Management Department at Saraswati Institute of Management
& Technology, Rudrapur. I am very obliged to these persons who
helped out .

I would be failing in my duty if I do not thank all the family

members and friends & seniors who helped me with their active
and valuable co-operation , one last, but not the least, our thank
is due, to all those who have contributed their own to make
my project a success.

CONTENT

 ACKNOWLEDGEMENT
 PREFACE
 DECLARATION
 CHAPTER –I

1) EXECUTIVE SUMMARY
2) OBJECTIVE OF THE STUDY
3) RESEARCH METHODOLOGY
4)LIMITATION

CHAPTER-II

 COMPANY PROFILE

CHAPTER –III

 INTRODUCTION OF TOPIC

CHAPTER –IV

 DATA ANALYSIS & INTERPRETATION

CHAPTER –V

 CONCLUSION
 SUGGESTION
 BIBLIOGRAPHY

EXECUTIVE SUMMARY

Someone has greatly said that practical knowledge is far better

than classroom teaching. During this project I fully realized this
and come to know about the present real world of Insurance
sector. It includes all the activities involved in providing insurance
products to the final customers. I am pleased to know about the
consumers’ wants and competitors activities in the real world of
Insurance.
The subject of my study is to analyze the buyers attitude towards
products of lic in rudrapur city through direct interaction with
customer’s.
The report contains first of all brief introduction about the
company.
I also put forward recommendations of the consumers and
conclusions that will help LIC to provide consumer satisfactory
services in the insurance sector.
OBJECTIVES OF STUDY

• To study the buyers attitude towards products of lic in

rudarpur .

• To measure the level of satisfaction to the customers .

• To know about industrial environment.

• To see the difference between theoretical knowledge & practical

knowledge.

• To know how the theoretical knowledge apply in the practical

approach.
MEANING OF RESEARCH

“Systematized efforts to gain new knowledge”

Redman and Mary.

Research is the process of defining and re- defining problems

formulating the different hypothesis with suggested solutions by
collecting, summarizing, organizing and evaluating different data’s
by thus reaching on solutions with careful testing. Research is
common means which refers to search for knowledge.

Research is scientific and systematic search for pertinent

information on a specific topic.

“A Careful investigation or inquiry specially through search for new

facts in any branch of knowledge.”

Advanced Learners Dictionary

RESEARCH METHODOLOGY

Research methodology refers to the various sequential steps

(along with a rationale, of each such step to adopt by a researcher
in studying a problem with certain object or objectives in view. It
would be appropriate to mention that research projects are not
susceptible to any one complete and inflexible sequence of steps
and type of problems to be studied will determine the particular
steps to be taken and their order too. However, the following steps
provide useful procedural guidelines so far research methodology
is concerned;

1- Tentative selection of the problem (i.e. topic of research )

2- Initial survey of literature.
3- Defining or selecting the research problem.
4- Specification of the information required.
5- Design of the research project.
6- Sample design.
7- Collection of data or construction of questionnaire.
8- Execution of the project.
9- Analysis of data
10- Arriving at generalization; and
11- Preparation of the report.
DATA COLLECTION

When research problem has been defined or research plan has

been chalked out, the task of data collection begins.

There are two types of data-

1- PRIMARY DATA
2- SECONDARY DATA

PRIMARY DATA:–

Primary data are those which are collected fresh and for the first
time and original in character.

METHODS OF COLLECTING PRIMARY DATA:-

1- OBSERVATION METHOD
2- INRTVIEW METHOD
3- OUESTIONNAIRE
4- SCHEDULES

SECONDARY DATA
Secondary data are those which have already been collected by
someone and this data has already been passed through a
statistical process.

COLLECTION OF SECONDARY DATA

Secondary data means that are already available i.e., they refer to
the data which have already been collected and analyzed by
someone else. When the researcher utilizes secondary data, then
he has to look into various sources from where he can obtain them.
In this case he is certainly not confronted with the problems that
are usually associated with the collection of original data.
Secondary data may either be published data or unpublished data.
Usually published data are available in:

• Various publications of the control state are local government.

• Various publications of foreign government or of international
bodies and their Subsidiary organization.
• Technical and trade journals, books, magazines and newspapers.
• Reports prepared by research scholars, unadvertised, economists
etc in different fields.
• Public record and statistics, historical document, and other
sources of published information. The sources of unpublished data
are many; they may be found in diaries, letter, published
biographies and autobiographies and also may be available with
scholarship and research workers, trade association, labour
bureaus and public/ private individuals and organizations.
 SAMPLE SIZE – 60

SAMPLE PLACE - RUDRAPUR

LIMITATIONS OF STUDY

 1) The research process was time consuming .

 2) The sources of data collection were limited.

 3) It was difficult to complete a study of this nature and to study

all the aspect of problem with in short period.

 4) The time factor is important

INDUSTRY PROFILE
Life insurance in India made its debut well over 100 years ago.

In our country, which is one of the most populated in the world, the prominence of
insurance is not as widely understood, as it ought to be. What follows is an attempt
to acquaint readers with some of the concepts of life insurance, with special
reference to LIC.

It should, however, be clearly understood that the following content is by no means

an exhaustive description of the terms and conditions of an LIC policy or its
benefits or privileges.
What Is Life Insurance?

Life insurance is a contract that pledges payment of an amount to the person

assured (or his nominee) on the happening of the event insured against.

The contract is valid for payment of the insured amount during:

• The date of maturity, or

• Specified dates at periodic intervals, or

• Unfortunate death, if it occurs earlier.

Among other things, the contract also provides for the payment of premium
periodically to the Corporation by the policyholder. Life insurance is universally
acknowledged to be an institution, which eliminates 'risk', substituting certainty for
uncertainty and comes to the timely aid of the family in the unfortunate event of
death of the breadwinner.

By and large, life insurance is civilisation's partial solution to the problems caused
by death. Life insurance, in short, is concerned with two hazards that stand across
the life-path of every person:

1. That of dying prematurely leaving a dependent family to fend for itself.

2. That of living till old age without visible means of support.

PORTER FIVE COMPETITIVE FORCES FOR INSURANCE INDUSTRY

Competitive Force: -

Michael Porter has identified five forces that determine the

intrinsic long-run profit attractiveness of a market or market
segment.

• Industry competitors

• Potential entrants.

• Substitutes.

• Buyers.

• Suppliers.

Threat of Intense Segment Rivalry: -A segment like insurance sector which

is very attractive because, it is in the growing stage of the life
cycle, and these makes this segment attractive but on the other
hand it already contains aggressive competitors such as: -

• Bajaj Alliances

• ICICI Prudential Life Insurance.

• HDFC.
• Franklin Templeton.

• Reliance.

• Unit trust Of India. Etc.

The numbers of Competitors are more but the potential in the

Insurances sectors that makes this Sector attractive to most of
the financial companies. So, for that reason LIC have a tuff
competition with other competitors in this segment and secondly
LIC had an experience of more than 20 years of this segment but
on the other hand the company like, ICICI PRU had good
experience of this market. So for LIC there is threat mainly with
the ICICI PRU. And in future this can lead to frequent price wars,
advertising battles and new-product introductions and will make it
expensive to compete. But overall this segment is very attractive.
MAJOR PLAYERS

Life Insurance:

Bajaj Allianz

ING Vysya

AMP Sanmar Assurance Limited

SBI Life

Tata AIG Life

HDFC Standard

ICICI Prudential Life Insurance

Birla Sunlife
Aviva Life Insurance

Kotak Mahindra Old Mutual

Max New York Life

Met Life

LIC

General Insurance:

Royal Sundaram

Tata-AIG General

Reliance General

IFFCO-Tokio

ICICI-Lombard

Bajaj Allianz

HDFC CHUBB

New India Assurance Company Limited

National Insurance Company Limited

United India Insurance Company Limited

Oriental Insurance Limited

LIC

Every day we wake up to the fact that more than 220 million lives
are part of our family called LIC.

Humbled by the magnitude of the responsibility LIC carry and

realise that the lives that are associated with it are very valuable
indeed.

Although this journey started five decades ago, we are still

conscious of the fact that, while insurance may be a business for
LIC, being part of millions of lives every day for the past 52 years
has been a process called TRUST

53 Years Of Trust…
…Thy Name Is LIC

MISSION
"Explore and enhance the quality of life of people through
financial security by providing products and services of aspired
attributes with competitive returns, and by rendering resources
for economic development."

VISION

"A trans-nationally competitive financial conglomerate of

significance to societies and Pride of India."

OBJECTIVES OF LIC

• Spread Life Insurance widely and in particular to the rural areas

and to the socially and economically backward classes with a
view to reaching all insurable persons in the country and
providing them adequate financial cover against death at a
reasonable cost.

• Maximize mobilization of people's savings by making insurance-

linked savings adequately attractive.

• Bear in mind, in the investment of funds, the primary obligation

to its policyholders, whose money it holds in trust, without
losing sight of the interest of the community as a whole; the
funds to be deployed to the best advantage of the investors as
 well as the community as a whole, keeping in view national
priorities and obligations of attractive return.

• Conduct business with utmost economy and with the full

realization that the moneys belong to the policyholders.

• Act as trustees of the insured public in their individual and

collective capacities.

• Meet the various life insurance needs of the community that

would arise in the changing social and economic environment.

• Involve all people working in the Corporation to the best of their

capability in furthering the interests of the insured public by
providing efficient service with courtesy.

• Promote amongst all agents and employees of the Corporation

a sense of participation, pride and job satisfaction through
discharge of their duties with dedication towards achievement
of Corporate Objective.

BOARD OF DIRECTORS

Members On The Board Of The Corporation

Shri. T.S. Vijayan (Chairman)

Shri. D.K. Mehrotra (Managing Director - LIC)

Shri. Thomas Mathew T. (Managing Director - LIC)

Shri. A.K. Dasgupta (Managing Director - LIC)

Shri. Ashok Chawla (Finance Secretary, Ministry of Finance, Govt.

of India)

Shri. R. Gopalan (Secretary, Department of Financial Services,

Ministry of Finance, Govt. of India.)

Shri. Yogesh Lohiya (Chairman cum Managing Director, GIC of

India)

Shri D.L. Rawal (Chairman & Managing Director , Dena Bank)

Dr. Sooranad Rajashekhran

Shri. Monis R. Kidwai

Lt. General Arvind Mahajan ( Retd.)

OPERATIONS
Shri.P.Chidambaram

“In the year 1956, 245 Indian and foreign companies were
nationalized and today, the three letters ‘LIC’, stands as a
synonym for insurance, for services, for excellence in
strengthening the economic fibre of this country. I dare to say
that no other three letters taken together are more recognised to
the length and breadth of India than LIC.”

“The performance figures of LIC give an indication why LIC is dear

to us, why LIC is a Jewel in our crown and why we will continue to
nurture LIC and grow it into a great organization rendering service
to the people of India.”

“LIC’s footprints are now to be found in many other countries in

the world. Wherever Indians go - and they go everywhere now,
wherever Indians are welcome - and they are welcome in every
part of the world, wherever Indians settle down – they have found
many new homes, wherever Indians excel – and they excel in
every walk of life, they want LIC – they want LIC to protect them,
to look after their savings, and provide for protection as well as
their retirement.”

P. Chidambaram
Excerpts from speeches at the inaugural function of LIC’s Golden
Jubilee Celebrations.
Lucknow, September 1, 2005.

PRODUCT OFFERED TO CUSTOMER

 CHILDREN'S POLICY

Komal Jeevan - Plan No. 159

Children Deferred - Plan no.41

Jeevan Kishore - Plan no.102

Jeevan Chhaya - Plan no.103

Marriage Endowment/Educational Annuity - Plan No. 90

Jeevan Anurag - Plan no.168

ENDOWMENT POLICY

Endowment with Profits - Plan no.14 Limited Payment Endowment

with Profits - Plan no.48

Jeevan Mitra - Plan no.88

New JanaRaksha Policy - Plan no.91

Jeevan Anand Plan no. 149

Jeevan Mitra Triple Cover - Plan no.133

GROUP INSURANCE POLICY

Janashree Bima Yojana

Group Insurance Scheme in lieu of EDLI

Group (Term) Insurance Scheme

Group Savings Linked Insurance Scheme

Group Superannuation Scheme

Group Mortgage Redemption Assurance Scheme

 JOINT LIFE POLICY

Jeevan Saathi - Plan no.89

MONEY BACK POLICY

Money Back with Profit - Plan no.75

New Money Back - Plan no.93

Jeevan Surabhi 15 yrs - Plan no.106

Jeevan Surabhi 20 yrs - Plan no.107

Jeevan Surabhi 25 yrs - Plan no.108

Jeevan Bharati Plan No 160

Jeevan Samriddhi Plan No 154, 155, 156 157

Bima Bachat- Plan no.175

PENSION PLANS OR ANNUITIES

New Jeevan Dhara - Plan no.148

New Jeevan Suraksha Plan no. 147

Jeevan Akshay II Plan no. 163

Jeevan Nidhi Plan no. 169

Jeevan Akshay V Plan no. 183

SPECIAL PLANS
Term Assurance - Plan no.43

Mortgage Redemption - Plan no.52

Jeevan Aadhar - Plan no.114

Market Plus - Plan No 181

Jeevan Vishwas Plan No. 136

Jeevan Saral Plan No. 165

Jeevan Pramukh Plan No. 167

Bima Nivesh 2005 Plan No 171

Money Plus-Plan No 180

TERM POLICY

Convertible Term Assurance - Plan no.58

New Bima Kiran

Term Assurance

Anmol Jeevan I Plan No- 164

Amulya Jeevan-Plan No-177

CLASSIFICATION OF BUYERS

Typically, buyers can be classified into two categories:

Personal and

Organizational.

Personal buyers are those who buy a particular item for his or
her own consumption or use. For example you may like to buy an
Annual Maintenance Contract (AMC) for you personal computer
installed in your house. The other category of buyers is called
organizational buyers. The organizational buyers are those who
buy the goods or services for the organizational use. For example,
a government department may buy a similar AMC for the office
computers. Another example can be of a hospital which may buy
beds for the use of patients.However, irrespective of the type of
buyer, the buying roles remain the same, though the number of
persons who play these roles may vary. In organization
purchases, also called B-2-B (Business to Business) purchases
more people are involved and typically they fall under influencer’s
category. Because of large number of people working as
influencers, generally the B-2-B purchases take longer time to
minimize on perceived risks. The elements which are reviewed in
he evaluation process might range from price, quality, reliability,
etc. As the complexity of the service offer increases, in B-2-B
purchases, the importance of confidence in service supplier
increases.
Attitudes
Global evaluative judgments

Intentions

Subjective judgments by people about how they will

behave in the future

Beliefs

Subjective judgments about the relationship between two

or more things

Feelings

An affective state (e.g. current mood state) or reaction

(e.g. emotions experienced during product consumption)

Relationships between consumer beliefs, feelings,

attitudes and intentions
Consumer beliefs

A sampling of consumer beliefs

– If a deal seems to good to be true, it probably is.
– You can’t believe what most advertising says these
days.
– Auto repair shops take advantage of women.
– People need less money to live on once they retire.
– It’s not safe to use credit cards on the Internet.
 – Appliances today are not as durable as they were 20

years ago.
– Extended warranties are worth the money.
– You get what you pay for: lower price means lower
quality.
– Changing the oil in your car every three thousand
miles
is a waste of money.

– Expectations

– Brand distinctiveness

– Inferential beliefs

– Consumer confusion

Consumer expectations

Consumers’ willingness to spend is influenced by

beliefs about their financial future

Expectations are beliefs about the future

Brand distinctiveness
Why should a consumer want to buy your brand instead of the
competitor’s?

The desirability of products having something unique to offer to

their consumers is also known as the Unique Selling
Proposition (USP)
Inferential beliefs
Consumers use information about one thing to form beliefs about
something else

Beliefs are often inferred when product information is incomplete

Also undertaken when consumers interpret certain product

attributes as signals of product quality, e.g. price-quality
inferential beliefs

Consumer confusion
Sometimes consumers do not know what to believe due to many
different reasons

– May arise due to conflicting information and knowledge

– Mistaking one company’s product for the product of another

company

– Due to changes in a product’s position and image

Consumers respond to confusion by:

– Undertaking further information search

– Basing their decision on things that are perfectly clear, e.g.

price

– Deferring product purchase indefinitely

Consumer feelings
Feelings as part of the advertising experience

Feelings as part of the shopping experience

Feelings as part of the consumption experience

– Feelings activated by the advertisement have the potential

to influence attitudes formed about the featured product

– The program in which advertising appears can induce

feelings and affect post-message attitudes

– The retail environment elicits different feelings in consumers

ultimately affecting their attitudes and behaviours in the
store

– The shopping environment can evoke pleasure, arousal,

or dominance in consumers

– Some consumption experiences are liked primarily for the

feelings they induce

Attitude towards the object (Ao) represents the evaluation of

the attitude object

Attitude towards the advertisement (Aad) represents the

global evaluation of an advertisement

Attitude towards the behaviour (Ab) represents the evaluation

of performing a particular behaviour involving the attitude object

Preferences represent attitudes toward one object in relation to

another

The Fishbein Multiattribute Attitude Model

Ao = Σ bi ei
 i =1

Ao = attitude toward the object

bi = strength of the belief that object has attribute i

ei = evaluation of attribute i

n = number of salient or important attributes

Companies want consumers to perceive their products as:

– possessing desirable attributes (when ei positive, bi should

be positive)

– not possessing undesirable attributes (when ei is negative,

bi should be negative)

– The Ideal-Point Multiattribute Attitude Model

– Consumers indicate where they believe a product is located

on scales representing the various levels of salient attributes

– Also report where ideal product would fall on these scales

– The closer the ideal and actual ratings, the more favorable
the attitude

– Benefits of using multiattribute attitude models

– Diagnostic power: examine why consumers like or dislike

products

– Simultaneous importance-performance grid with marketing

implications for each cell

– Can provide information for segmentation (based on

importance of product attributes)

– Useful in new product development

 – Guidance in identifying attitude change strategies

– Attitude change implications from multiattribute

attitude models

Three primary ways for changing consumer attitudes:

– Change beliefs

– Change attribute importance

– Change ideal points

– Changing consumer attitudes: Changing beliefs

– Firms hope that changing beliefs about products will result in

more favorable product attitudes and influence what
consumers buy

– If beliefs are false, they need to be brought into harmony

with reality

– If beliefs are accurate, it may be necessary to change the

product

– Comparative advertising can hurt beliefs about a

competitive brand

– Changing consumer attitudes: Changing attribute

importance

– Changing an attribute’s importance is more difficult than

changing a belief

– How is a brand perceived relative to ideal performance?

– Increasing attribute importance is desirable when the

competitor’s brand is farther from the ideal point than your
product
 – Firms may add a new attribute

– Changing consumer attitudes: Changing ideal points

– Altering consumers’ preferences for what the ideal product

should look like

Estimating the attitudinal impact of alternative

changes

How expensive are the product modifications required to

change attitude?

Are they possible to accomplish?

How resistant to change are consumers?

What is the potential attitudinal payoff each change might

deliver?

Consumer intentions

Useful for firms when predicting how people will act as

consumers

– How much existing product should be produced to meet

demand?

– How much demand will there be for a new product?

– Firms interested in many types of consumer intentions

Types of intentions

– Spending intentions

– Purchase intentions

– Repurchase intentions

– Shopping intentions
 – Search intentions

How firms can predict behaviour

Rely on past behaviour to predict future behaviour

Problems:

– Situations change (changes in market can cause

unpredictable changes in demand)

– Sales trends are sometimes erratic

– Past behaviours not available for new products or first-time

behaviours

– Rely on consumers’ reported intentions

– People often do what they intend

Constraints on predictive power of intentions

Intentions can change

– Intend to do something and don’t

– Intend not to do something and do

– Can’t control whether consumers act upon their intentions

– Can influence predictive accuracy

– Intentions’ predictive accuracy strongly depends on how

they are measured

– The more closely intention measures correspond to the to-

be-predicted behaviour, the greater the predictive accuracy
Constraints on predictive power of intentions

Accuracy of forecasts also depends on when intentions are

measured

How far into the future is being predicted?

Accuracy depends on the to-be-predicted behaviour (behaviours

repeated with regularity are easier to predict)

Volitional control: the degree to which a behaviour can be

performed at will

Existence of uncontrollable factors interfere with the ability to do

as intended

Perceived behavioural control: the person’s belief about how

easy it is to perform the behaviour

Consumer intentions: Other uses

Indicator of the possible effects of certain marketing activities

Intentions may provide an informative indication of a company’s

likely success in retaining customers
Q1. Are you aware about life insurance ?

1). YES 2). NO

57 3

INTERPRETATION

95 % of persons are aware about life insurance in

rudrapur city , which is a good sign .
Q2. Are you aware about insurance product of lic ?

1). YES 2). NO

57 3

INTERPRETATION
95 % of people are aware about products of lic in
rudrapur city .

Q3. Why do you like lic ?

Safety Service Both

23 22 15
38.33 like lic because it provides safety to the buyers & 36.66 % like lic because it
provides good service 25 % like because it provides both safety & service , lic
should focus on both sides more so that both % should increase .

Q4. Are you satisfied with insurance product of lic ?

Yes No

40 20
INTERPRETATION

66.66 % people of rudrapur city are satisfied with

insurance products of lic , so lic should perform a survey &
try to find that why other people are not satisfied .

Q5. Do you like the insurance product of lic ?

Yes No

40 20
INTERPRETATION

66.66 % people of rudrapur city like insurance product of

lic .

Q6. Are you getting the services of lic from time to time ?

Yes No

39 21
INTERPRETATION

65 % people of rudrapur city says that they get the

services of lic from time to time

Q7. Are you satisfied with the returns of lic ?

Yes No
35 25
INTERPRETATION

58.33 % people of rudrapur city are satisfied with the

returns of lic .

Q8. lic is relevant to your needs?

Strongly Moderatel Cant say

agree y agree

30 20 10

INTERPRETATION
83.33 % people of rudrapur city agree that lic is relevant to their
needs .

Q9. Do you think lic is a leader in insurance market ?

Strongly Moderatel Cant say

agree y agree

30 20 10
INTERPRETATION

83.33 % people of rudrapur city agree that lic is a leader

in insurance market.
Findings
1)Now a days also Insurance is most popular as more plain
protect against death but people are unaware about the other
aspects of insurance.

2) According to current scenario life and matter Insurance are the

most popular ones followed by fire Insurance .

3) Majority of people consider the Insurance premium paid by

them as reasonable.
4) Only few counted people are unaware about the entry of
private players in the insurance industry and a very high majority
of people support their entry.

5)By the entry of private players. Consumers are expecting the

premium to down which would be the biggest blessing

6)maximum people prefer lic than other private players .

7)people of rudrapur city have positive belief in buying lic

products .

CONCLUSION
Someone has greatly said that practical knowledge is far better
than classroom teaching. During this project I fully realized this
and come to know about the present real world of Insurance
sector. It includes all the activities involved in providing insurance
products to the final customers. I am pleased to know about the
consumers’ wants and competitors activities in the real world of
Insurance.
The subject of my study is to analyze the buyers attitude towards
products of lic in rudrapur city through direct interaction with
customer’s.
The report contains first of all brief introduction about the
company.

According to current scenario life and matter Insurance are the

most popular ones followed by fire Insurance .

RECOMMENDATIONS
In the modernized well advanced hi-tech approach , to the
customer every possible facilities and effort to build up the
confidence of the rising policy holders towards Insurance
companies is taken . some recommendations that are intensely
felt and highly required for insures to sustain in the market. These
are as follows:

1) More and more transparency should be ascertained between

insurers and policy holders.

2) Particularly, in the emerging boom in the insurance company,

every insurance company should be customer centered, and well
versed in the handling of problem and grievances of the policy
holders.

3) Each and Every product launched by the Insurance company

should be in

favour of increasing need of policy holders.

4) IRDA should be more and more responsible to the insurance
sector by determining some standard. It should be mandatory to
every insurers to make more and more responsible and
responsive to the policy holders so that comprehensive
understanding may be developed among policy holders. It may be
beneficial on both sides.

5)More advertisements should be done to make aware about the

insurance products from time to time .

6)Time to time surveys should be performed , to know if there is

any problem faced by customers or not
BIBLIOGRAPHY

WEBSITES

www.licindia.com/

www.scribd.com/doc/21555292/Project-on-LIC-India

http://www.mckinsey.com/locations/india/mckinseyonindia/pdf/insurance_a_summary.pdf

http://www.domain-b.com/finance/insurance/lic/index.html

www.icici.com

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