A Summer Internship Project Report On

“PROMOTIONAL TECHNIQUES OF ADITYA BIRLA

SUNLIFE INSURANCE IN PUNE REGION”

Submitted in partial fulfillment of the requirement for the

Post Graduate Diploma in Management

BY
ABHISHEK KUMAR

Roll No.02

Under the guidance of

BAGIRATHI IYER

A study conducted for

ADITYA BIRLA SUNLIFE INSURANCE

At

Indira School of Business Studies

Tathwade, Pune – 411033

ACKNOWLEDGEMENT
Its give me a great pleasure to express my deep sense of gratitude and
indebtedness to BIRLA SUNLIFE INSURANCE , Pune for allowing
me to undergo Summer Project Program in their organization.
I owe great debt to my mentor Mr. Rajat Gupta who in spite of their
pressing duties and responsibilities hass shown a genuine interest in
providing necessary guidance regarding the concept of the project and
rendered support at all stages of the project.
I would like to coney my sincere thanks to Mrs. Renu Bhargava (Director
– ISBS) and Dr. Bagirathi Iyer who always motivated and helped me
whenever I required.
Last but not the least I would like to thank my institution and my faculty
members without whom this project wouldn’t have been a distant
reality.

Regards
ABHISHEK KUMAR
 DECLARATION

I Abhishek Kumar, student of ISBS- INDIRA SCHOOL OF BUSINESS

STUDIES , Pune , hereby declare that this project entitled
‘PROMOTIONAL TECHNIQUIES OF ADITYA BIRLA SUNLIFE
INSURANCE IN PUNE REGION (Hinjewadi)’ for BIRLA SUNLIFE
INSURANCE , PUNE , is a bonafide record of work done by me during
the course of summer internship project work of PGDM programme and
all contents and facts are prepared and presented by me without any
bias.

I also declare that it has not previously formed the basis for the award to
me for any degree/diploma associate ship, fellowship or other similar
title , of any institute or society.

Place : Patna
Date : 12/07/2021
CERTIFICATE OF COMPANY
CERTIFICATE BY COLLEGE
 EXECUTIVE SUMMARY

In today’s world, every individual wants to secure his future and one of
the way is investment. While investing their money they expect capital
appreciation along with security and minimum risk involved in it.
Some investment avenues involve huge risk and some less risk.
Depending on the changing risk environment and emerging investment
opportunities, investments need to be evaluated on a regular basis and
form strategies which will help in minimizing the risk and maximizing
the returns to the investor.
For a vast country like India, There are two aspects which are most
important for a company’s progress. First is the customer & second is
the way in which company reaches the customer. Company may make
the best products but it’s useless if it doesn’t have the capacity to
distribute it to the customers.
The problem is that, in most cases, the expenses incurred after an
accident, the death of a loved one, or a disability are beyond any savings
or wealth that a person may have accumulated and it is for this reason
that a person may have accumulated and it is for this reason that
insurance is such an important factor of your financial planning.
Purchasing insurance cover is more economical in the long term than
having to use your savings to pay for the loss or damage of assets,
especially when it’s a costly expense. In this project, I am studying about
the promotional techniques used by BSLI to increase sales. I have taken
surveys to see what a customer looks for before buying a Life Insurance
Policy.
 INDEX

S. No. CONTENTS Pg. No.

Introduction 7
1

2 Objective of the study 19

3 Literature Review 20

4 Research Methodology 43

5 Data Interpretation and Analysis 24

6 Findings of the Data 39

7 Recommendations and Suggestions 40

8 Limitations 41

9 Conclusion 42

10 Appendix 43
 CHAPTER – 1

1. INTRODUCTION
1.1 Introduction to the industry
Insurance
Today insurance is a tool for investing money that provides an assurance of
security with attractive returns. Insurance is a risk transfer tool. Insurance means
“it covers all uncertain risk of financial assets” .as we know that assets have some
economic value. Same that concept is followed on the human being. Insurance
protect the economic value of all financial assets.

Life Insurance
Life insurance is also an attractive financial instrument for the security purpose
and sharing

of the uncertain risk. Life insurance may be the other form of saving investment
with safety

returns. Like as the following ways:-

 Saving through life insurance guarantee financial protection against risk of

death of policy holder.
 Liquidity means providing loan and conversion of cash easily. When you
need money it will provide in proper way.
 Tax rebate is also another form for saving.
 Providing the full sum assured when any loss of the financial assets.
 Long term savings can be made in a relatively painless manner because of
the easy instalment facility.
 Providing all the basic benefits which are coming under the life insurance
plans.

Basic Insurance
 Sum Assured – It represents the face value or the insurance contract.
 Premium – It is one of the periodic payment that a policyholder pays for
their benefits through the policy.
  Term – It is the period during which the contract is effective between the
insurer and insured.
 Mode – It is a mode of payment premium which client had to pay
monthly , quarterly, semi-quarterly or yearly.
 Premium Paying term(PPT)- It is number of years , premium pay
under policy. Under certain plans for the PPT is less than the actual term
of the policy.
 Grace Period - Policyholder are expected to pay on due date but for their
convenience a period of 15- 30 days is allowed as grace.
 Paid-up value- According to rules and regulations, once the premium has
been pain on three policy year the policy does not become wholly void
even If no subsequent premium are paid .
 Surrender Value- A policy can be surrender for cash after the has
acquired the paid-up value.
 Accidental Benefit- It provides payment of an additional benefit equal to
the sum assured investment in case of death due to accident or investment
in case of permanent disability.
 Term Rider- Riders are provided with some additional benefits on
payment of little extra premium. This is an optional benefit.

COMPETITORS:-
LIFE INSURANCE CORPORATION:
Life Insurance Corporation (LIC) is the biggest life insurer in India and totally
owned by the union government. It specializes in individual life insurance,
pension plans, and group insurance plans. It has several subsidiaries including
the following:

 Life Insurance Corporation of India International

 LIC Housing Finance

 LIC Nepal

 LICHFL Care Homes

 LIC Lanka

The organization has in excess of 12 million policyholders and more than 9 lakh
agents. Till date it has issued in excess of 120 million policies. A major reason for
the organization’s success over the years has been its adaptability.
It was introduced to computers during 1964 and since then has been utilizing
information technology for serving its customers. It is also a rewarding option
when it comes to work opportunities, especially for sales agents who are provided
training at par with international standards, and a lot of independence for
working. In all, the financial prowess of this insurer is yet to be matched.

ICICI PRUDENTIAL LIFE INSURANCE

ICIC Prudential Life Insurance has a big network comprising more than 1900
branches, which includes 1074 micro offices and more than 210,000 advisors. It
is one of the earliest life insurers to have received the AAA (Ind) National
Financial Strength rating from Fitch.

For three straight years it has been voted the Most Trusted Private Life Insurer –
a testament of its performance and growth over the years.

HDFC STANDARD LIFE INSURANCE

HDFC Standard Life Insurance (now, HDFC Life) is one of the leading names
among the private enterprises functioning in India. It deals in both group and
individual insurance products. They also possess sufficient financial capability to
take care of long term investments in a resourceful and safe manner.

It has a commendable presence in more than 700 towns and cities and has 568
branches. It has employed approximately 2 lakh financial advisors for dealing
with different requirements of their customers such as protection, investments,
pension, health, and savings. It also offers customized plans for the convenience
of its clients.

BAJAJ ALLIANZ GENERAL INSURANCE COMPANY LTD

It's is a joint venture between Bajaj Finserv Ltd (recently demerged from Bajaj
Auto Ltd) and Allianz SE. Both enjoy a reputation of expertise, stability and
strength.

Bajaj Allianz received the Insurance Regulatory and Development Authority

(IRDA) certificate of Registration on May 2, 2001 to conduct various businesses
(including health insurance business) in India. The Company has an authorized
and paid up capital of Rs 110 crores (US$ 17.91 million). Bajaj Finserv Ltd holds
74 per cent and the remaining 26 per cent is held by Allianz, SE.

As on March 31, 2014 Bajaj Allianz maintained its premier position in the
industry by achieving growth as well as profitability.

Bajaj Allianz has made a profit before tax of Rs 587

crore (US$ 95.62 million) and has become the only private insurer to cross the Rs
100 crore (US$ 16.29 million) mark in profit before tax in the last two years. The
profit after tax was Rs 409 crore (US$ 66.63 million), 39 per cent higher than the
previous year.

1.2 Company Profile

 Birla Sun Life Insurance Company Limited (BSLI) was established in 2000 as a
joint venture between the Aditya Birla Group, a well-known and trusted name
globally amongst Indian conglomerates and Sun Life Financial Inc., leading
international financial services organization from Canada.

With an experience of over 9 years, BSLI has significantly contributed to the

growth and development of life insurance industry in India. BSLI currently ranks
amongst top 5 private life insurance companies in the country. Known for its
innovation and industry benchmarks, BSLI has several firsts to its credit.

BSLI was the first Indian Insurance Company to

introduce “Free Look Period” and the same was made mandatory by IRDA for all
other life insurance companies. In addition to this BSLI also pioneered the
launch of Unit Linked Life Insurance plans amongst the private players in India.
To establish creditability and transparency, BSLI enjoys the prestige to be the
originator of practice to disclose portfolio on monthly basis. These development
benefits have helped BSLI be closer to its policy holders’ expectations which gets
further accentuated by the compete bouquet of insurance products (viz. pure
term plan, life stage products, health plan and retirement plans) that the
company offers.

In addition to this, the extensive reach through its network of 600 branches and
1, 75,000 empanelled advisors. The impressive combination of domain expertise,
product range, reach and ears on ground, helped BSLI cover more than 2 million
lives since it commenced operations and establish a customer base spread across
more than 1500 towns and cities in India.

To ensure that customers have an impeccable

experience, BSLI ensured lowest outstanding claims ratio of 0.00% for FY 2008-
09. BSLI also has the best Turn aroundTime according to LOMA on all claim
Parameters. Such services are well supported by sound financials that BSLI has.
The AUM of BSLI stood at Rs. 8165 crores as on February 28, 2009, while as on
March 31, 2009, the company has a robust capital base of Rs. 2000 crores.

Philosophy
Birla Sun Life Asset Management Company follows a long-term, fundamental
research based approach to investment. The approach is to identify companies,
which have excellent growth prospects and strong fundamentals. The
fundamentals include the quality of the company’s management, sustainability of
its business model and its competitive position, amongst other factors.

VISION
To be a leader and role model in a broad based and integrated financial services
business.

MISSION
To consistently pursue investor's wealth optimization by:

 Achieving superior and consistent investment results.

 Creating a conducive environment to hone and retain talent.

 Providing customer delight.

 Institutionalizing system-approach in all aspects of functioning.

 Upholding highest standards of ethical values at all times.

VALUES
 Integrity
 Commitment
 Passion
 Seamlessness

HIGHER COMMITTEE OF BIRLA SUNLIFE

 Mr Donald joined Sun Life Financial in 1969 in London, England, and
qualified as a Fellow of the Institute of Actuaries in 1972. In 1974, he left the
company to pursue a career in benefits counselling, ultimately joining William
M. Mercer in Toronto.

Mr Stewart re-joined Sun Life Financial in 1980 with overall responsibility for
the Canadian pension division, where he led six years of rapid growth. From
1992- 1995, Mr Stewart restored profitability via re-structuring and re-
engineering as Chief Executive Officer of Sun Life Financials trust operations.
In May 1995, Mr Stewart was appointed Senior VicePresident and Chief
Actuary followed by his appointment as President and Chief Operating Officer
followed in 1996.

Mr Kumar Mangalam Birla

Mr Birla is a Chartered Accountant and has also earned an MBA from London
Business School, London. He is also a Chairman of Aditya Birla Group, which
is among India’s largest business houses. Its JV operations include Birla Sun
Life Asset Management Company, Birla Life Distribution Co. Ltd and Birla
Sun Life Insurance Co. Limited. Business World ranked him among the top 10
of India’s most admired and respected CEOs and the top CEO of coming
millennium.

1.3 PRODUCT BY BURLA SUNLIFE

 There are many products and solutions offered by BSLI such as Individual
Solutions, Group Solutions, Rural Solutions and NRI Solutions. I have done my
research on Individual Solutions some of which are as follows.

VISION LIFE INCOME PLAN

Entry Age 1-60 years

Policy Term Whole life to age 100

Premium Paying Term 15 to 40 years

Minimum Sum Assured Rs 20000

Minimum Premium Rs. 18,000

In today's world, we try to plan for all of life's important stages and milestones
keeping in mind our growing responsibilities. And, to supplement these efforts, we
sometimes wish for an extra source of regular income. Introducing the BSLI Vision
Life Income Plan, a traditional participating whole life plan that helps you to not
only plan your financial goals but also realise your dreams by providing you with a
steady income and whole life cover. With survival benefits payable every year from
the end of the premium paying term till maturity and a life insurance benefit, this
plan offers a perfect blend of income and financial protection for you and your
family.

Salient features of the plan

 5% of the Sum Assured guaranteed plus bonus every year after premium paying term

 Comprehensive financial protection for your family with whole life covers till age 100

 Premium rebates on high Sum Assured, Annual and Semi-annual modes of payment and ECS
method of payment

 Access to suitable Rider options for added protection, at a nominal extra cost. MARKETING
Page 16
 Tax benefits under Section 80C, 80D and Section 10(10D) of the Income Tax Act, 19611 (1)Tax
benefits are subject to changes in the tax law, please consult your tax advisor for more details.

BENEFITS
Survival Benefit

In the event the life insured survives to the end of the premium paying term, the policy holder
will receive accrued bonuses till date. If he/she survives to the end of each subsequent policy
year, he/she will be paid Income Benefit of 5.0% of Sum Assured plus bonus from current policy
year.

Maturity Benefit

In the event the life insured survives to the end of the policy term, the policyholder will receive
the sum Assured and Terminal Bonus (if any).

Death Benefit

In the unfortunate event of the death of the life insured during the premium paying term, the
sum assured plus accrued bonuses as on date of death and Terminal Bonus (if any) will be paid
to the nominee. If the life insured dies after the premium paying term, the nominee will receive
the Sum Assured plus bonus from current year plus Terminal Bonus (if any). Sum Assured
payable on death/maturity shall never be less than 105% of total premiums paid to date
(excluding any applicable rider premium and/or underwriting extras)
MONEY PAY BACK PLAN

Entry Age 13 to 15 years

Policy Term 20,24,25 years

10 years for a 20 years term

Premium Paying Term 12 years for a 24 or 25 policy

term

Minimum Sum Assured Rs 100000

Annual , Semi-annual,
Premium Frequency Quarterly, Monthly

Every 4th or 5th policy anniversary as selected during inception, you shall
receive a survival benefit as a percentage of Sum Assured. These benefits will
continue throughout the policy term as long as the life insured survives.
Death benefit

In the unfortunate event of the death of the life insured during the policy term, the death
benefit payable to the nominee shall be:

 Sum Assured on Death;

 Accrued regular bonuses as of date of death;

 Terminal bonus (if any)

Sum Assured on Death is the maximum of Sum Assured chosen at inception irrespective
of any survival benefits paid or 10 times the annual premium payable.

Maturity Benefit

In the event the life insured survives to the end of the policy term, we shall pay to you

 Accrued bonuses till date;

 Terminal bonus (if any)

The policy shall be terminated once the maturity benefit is paid.

Riders

For added protection, you can enhance your insurance coverage during the policy term
by adding riders for a nominal extra cost. Please refer to detailed brochures on riders,
consult your financial advisor.

Tax Benefits

As per extant tax laws, this plan offers tax benefits under Section 80C and Section 10
(10D) of the Income Tax Act, 1961. Please consult your tax advisor for details.

AWARDS &RECOGNITION
 Birla Sun Life Insurance have won ‘Good Corporate Citizen Award’ for 2009-10

 ICAI Awards for Excellence in Financial Reporting, Awarded a Silver Shield in the
Insurance category by the Institute of Chartered Accountants of India (ICAI) for the
financial year ended 31st March, 2009.

 Recruiting and Staffing Best in Class Awards.

 Outlook Money Awards 2004 BSLI - Best Life Insurer (Runner Up) 2004 TROPHY.

 Outlook Money Awards 2004 BSLI - Best Life Insurer (Runner Up) 2004
CERTIFICATE.  The 8th Asia Insurance Industry Awards 2004 - Birla Sun Life
Insurance was among the top five nominees in the category.

 The Indo-Canadian Business Chamber- BSLI awarded for its 'Successful Performance'
for 4 years April 2005.

 Birla Sun Life Insurance was presented 'The Hewitt Best Employers In India Awards
2004' Trophy.

 Birla Sun Life Insurance was awarded 'The Great Place to Work Seminar Series 2007’
Presented by Anil Sachdev (Chairman & MD of Grow Talent Company Ltd) Robert
Levering (Co-founder Great Place to Work Institute) and Jehangir Pocha (Business
World Magazine)

1.4NEED OF THE STUDY

Birla Sun Life Insurance Company Ltd is a Birla Sun Life
Insurance Company Limited (BSLI) is a joint venture between the Aditya
Birla Group and Sun Life Financial Inc., a leading international financial
services organization. The local knowledge of the Aditya Birla Group
combined with the expertise of Sun Life Financial Inc., offers a formidable
value proposition to customers.

The vision of Birla Sun Life is “To be a leader and role model in a broad based
and integrated financial services business.”
 To achieve this vision, the company has to
understand what Insurance Advisor & Customer perception and accordingly
make necessary changes to make the whole experience of connecting with
Birla SunLife a good one for both the Insurance advisor & Customers.

CHAPTER -2

OBJECTIVE
OBJECTIVE OF THE STUDY

Primary Objective:

1) To know the investment pattern of people in insurance policies.

Secondary Objective:
1) To know the promotional strategies of the company to increase sales.

CHAPTER – 3
LITERATURE REVIEW
In financial services, people are primarily bothered about security of their funds and
default risks. After the year 1969, the deposits of banks increased more than 80
times as a result of the nationalisation of banks. Paul Cox, (2007) revealed a fact that
financial service providers are not perceived highly trusted, so that they might have
difficulty in selling risk based products. The effort to promote insurance business is
quite distinguished affair. At present, it has become very tricky due to the changing
trends of industry, increasing competition and efficiency of regulatory environment,
and the financial system.

The complexity in the insurance services is also an issue of vital

importance. This is the time when insurance are offering new and innovative
services, frequently in the market. The content of promotional tools should help the
customer in making most valuable decision. This can be firmly said that well
designed promotional strategies are very important to promote insurance services
effectively. In marketing any product or service, customer satisfaction has been given
the prime importance. The most frustrating aspect of insurance marketing is lack of
management support, lack of interdepartmental cooperation, crisis management,
government intrusion and advertising & media problems (Berry & Lindgreen, 1980).
Sarin & Anil (2007) recommended that manpower in service organisations must
work with the focus of satisfying the customer. Insurers should bring out the areas
requiring improvement and which further throw light on the measures to improve
the quality of services. Promotional packages are very important for financial service
industry (Ananda & Murugaiah, 200 Thus the orientation of insurance should be
with a much wider focus in relation to consumer and market needs, and the
consequent marketing strategies. The challenges put forth by the changing
environment have to be effectively tackled to identify the consumer needs and
providing valuable services throughproduct innovation (Nair Raman, 2006). In
insurance the temporal and spatial dimensions are perceived as more important
than traditional dimensions based on outcome and process elements (Kristina
Heinonen, 2006). Tokunbo Simbowale (2005) examined the usage of marketing
concepts & techniques and recommended that a well structured marketing
department in services providers is essential for profitability & effectiveness. A study
by Krishna, Suryanarayana & Srikant (2005) recommended that promotional
strategies should be designed as per the nature of the services to be promoted. The
advertisers should seek a narrative approach to communicate theservice experience
rather than a logical, argumentative approach. Narrative approach involves
storytelling methodology using sequence of events (Sehgal Roli, 2004). Location
convenience, speed of service, competence and friendliness of personnel are also the
most important points with maximum value in services(Laroche, & Manning, 1986).
Meidan (1976) revealed that about 90% of the respondents at service the branch
nearest to their home place and place of work. Convenience, in terms of location, was
also found to be the single most important factor for selecting a branch. It has been
generalized in the studies that services marketing MARKETING Page 23
advertisement is more challenging than the advertising of tangible products (Ray
and Bose, 2006) .Winning new customers costs 10 times more than simply holding
onto existing ones. The case should be taken in the marketing of financial services
very seriously (Farrokhtakin, Stavash, 2000) .While formulating marketing strategy,
an insurer should focus attention on (i) consumer sovereignty, (ii) attitude, (iii)
responsiveness and personal skills of staff, (iv) revitalizing the marketing
department, (v) top management support to the marketing department, (vi)
participation of marketing personnel in key company decisions (Kumar Ashok,
1991). With the same perspective, the prime objectives of the study are: (i) To know
about the various promotional tools of Private and Public insurers in India (ii) To
make a comparative analysis of customers‟ perception for promotional strategies of
private and public sector insurance companies in India (iii) To find out the key
promotional tools for insurance services on the basis of customers‟ responses.
Research Methodology The present study is descriptive in nature, which is based on
empirical evidences in the form of primary data. The data collection has been done
from 300 customers presently availing of insurance companies. The respondents
were approached with systematic random sampling where every 3rd visitor was
approached when he/she was coming out of the insurance office after availing the
service. The response rate was found to be 65%. The branches of the industry have
been selected out of the representative districts of the states of j and K on judgment
bases for making the samples true representatives. The study includes the customers
of 10 leading insurers out of which only one is from public sector (LIC of India) and 4
from private sector (ICICI Prudential, HDFC Standard, BIRLA Life Insurance, and
Bajaj Allianz Life Insurance Company Ltd.). A structured questionnaire has been
used for collection of data comprising open and close ended questions. Liker scale
has been used as a scaling technique in the questionnaire. Structured interviews
have been taken of 22 employees of the above stated companies for getting the initial
information about the promotional strategies adopted by leading private and public
sector companies in India.

Promotion has different aspects for different industries, products and services. Its
final goal is to communicate positive word of mouth among existing and potential
customers about the corporate, product and service .In Insurance sector. The
customers must be ensured that services provided by a particular company have
been designed to give them maximum value of their money and adequate risk cover.
In brief, it can be said that in India wherever the dilemma of private and public
sector comes always two things are considered. Public sector is more reliable but not
so good in the quality and innovativeness. Private sector is not considered so
reliable, there may be hidden charges in the services and false and misleading
information in the advertising but they are better in the service quality.

Private sector companies must be more true

and reliable first. They have to win the hearts of the customers, after that they will be
able to win minds as well. Private Sector companies are adopting more push
strategies to attract and catch the customers. This creates the difference between
promotional strategies adopted by Public and Private Sector Insurance companies.

CHAPTER – 4
 RESEARCH METHODOLOGY

RESEARCH DESIGN:- DESCRIPTIVE

SAMPLE SIZE:- 102

Research instrument:- SURVEY,DIRECT INTERVIEW

TOOLS USED :- MS EXCEL

CHAPTER – 5
DATA ANALYSIS AND INTERPRETATION
 PROMOTIONAL STRATEGIES

1- ONLINE
2- OFFLINE
ONLINE

A) Linked- in
B) Facebook
C) Instagram

OFFLINE

A) One paper( pamphlet )

B) Word of mouth (relatives )
C) Canopy

To know the investment pattern of people in insurance

policies.

AGE GROUP
21-25 25

26-30 0

31-35 0

36-40 0

TOTAL 25

Interpretation
Total 25 number of people are in the age between 21 to
25.

GENDER
MALE 40

FEMALE 60

TOTAL 100

INTERPRETATION
1) Out of 100 people 60 people are female.
2) Out of 100 people 40 people are male .

MARITIAL STATUS
 MARRIED 4%

UNMARRIED 96%

TOTAL 100%

INTERPRETATION
Out of 25 people 1 is married and 24 people are unmarried.
It seems like mostly unmarried people are interested to invest
in insurance policies for their safety.

AVERAGE INCOME
5-10 LAKH 96%

11-15 LAKH 0%

16-20 LAKH 0%

ABOVE 20 LAKH 4%

TOTAL 100%

INTERPRETATION
Out of 25 people 24 people average income is between 5 to 10
lakh who are interested to invest in insurance .
And out of 25 people 1 person there who’s income is above 20
lakh who is interested to invest in insurance.

OCCUPATION
BUSINESS 0%
SERVICE 12%
STUDENTS 80%
OTHERS 8%
TOTAL 100%

INTERPRETATION
From the above chart about students are interested to invest some for
insurance. The data shows 80 % of people are students who will invest .
8 % people who categorized in others are interested to invest in
insurance.
People who are in service which is about 12 % are interested to invest in
insurance.

ANNUAL SAVINGS
0-30000 Rs 80%
31000- 60000 Rs 0%
61000-90000 Rs 12%
Above 1 lakh 8%
Total 100%

INTERPRETATION
According to the above chart there 80 % of people whose savings are
between 1 to 30000.
61ooo to 90000 is the savings of about 12% of people who are willing to
invest in insurance.
And lastly 8% of people whose savings are 1 lakh or above 1 lakh.

LONG TERM SAVINGS PEOPLE ARE AWARE OF

Life Insurance 60%
Mutual Fund 28%
Fixed Deposit 12%
Securities 0%
Total 100%

INTERPRETATION
According to chart and table 60% of people are aware of life insurance.
About 28% of people are aware of mutual fund .
According to chart 12% of people are aware of fixed deposits.

PEOPLE ARE ADITYA BIRLA SUNLIFE INSURANCE

Yes 96%
No 4%

Total 100%

According to chart 96% of people knows about ADITYA BIRLA

SUNLIFE INSURANCE.
4% of people don’t know about ADITYA BIRLA SUNLIFE INSURANCE.
HOW PEOPLE COME TO KNOW ABOUT COMPANY

Radio 20%
Television 32%
Social Media 24%
Direct Selling 0%
Agents 24%
Others 0%
Total 100%

INTERPRETATION
According to chart 32% of people come to know about this company by
television, by radio only 20 % of people come to know about the
company,
By social media 24 % of people are aware.
And lastly by agents about 24 % of people came to know about this
company.

RATINGS OF PROMOTIONAL ACTIVITIES

VERY BAD 0%
BAD 8%
GOOD 16%
AWESOME 52%
EXCELLENT 24%
TOTAL 100%

INTERPRETATION
According to the above chart as we can we 8 % of people thinks
promotional activity is not so effective.
About 16% of people rated good out of 100% , means 16% of people
considers promotional activity of ABSLI effective .
52% of people rated awesome to the promotional activity which ABSLI is
using.
And lastly 24 % of people rated excellent to the promotional activity of
ABSLI.

MODE OF BUYING INSURANCE

ONLINE 60%

OFFLINE 40%

INTERPRETATION

According to the chart 40 % of people out of 100% interested in offline

purchasing and the rest 60 % are interested in purchasing policies
online.
OPTION OF PAYMENT FOR INVESTING IN INSURANCE

INTERPRETATION

LUMP SUM 8%
HALF YEARLY 12%
QUATERLY 20%
YEARLY 60%
TOTAL 100%

INTERPRETATION
According to chart 8 % of people are interested in selecting in lump sum
option for payment where as 12% of people are interested in selecting
half yearly payment .
According to chart 20 % of people interested to choose quarterly
payment mode.
According to chart 60% of people interested to choose yearly mode for
payment.

PREFERD COMPANY FOR INSURANCE INVESTMENT

LIC 60%
BIRLA SUNLIFE INSURANCE 20%
RELIANCE 0%
HDFC 8%
ANYOTHER 12%
TOTAL 100%

INTERPRETATION
According to chart 60 % of people prefer LIC for insurance as they think
its more convenient to get LIC policy.
20% of people prefer BSLI for insurance.
8% of people prefer HDFC for investing in insurance.
12% of people prefer other insurance except these for insurance.
REASON FOR INVESTMENT

TAX BENEFIT 20%

SAFETY AND SECURITY 60%

RETIREMENT 20%

CHILD EDUCATION 0%
TOTAL 100%

INTERPRETATION
According to chart 60 % of people invest in insurance for their safety and
security where as 20 % of people invest in insurance for their tax benefit.
And rest 20% of people out of 100 % would like to invest for their
retirement.
 CHAPTER – 6
FINDINGS

PROMOTONAL STRATEGIES
1. ONLINE:
a) Linked in: I have connected to 3 to 4 Human Resource Department of different
Companies, though got positive response but none of them got converted to client.

b) Facebook: I have posted a promotional Article and have given description of one
policy i.e. “Money Bag”. I’ve got positive response through likes, comments, queries
regarding detailed information. Through which one client got converted and became
Client. The client who got converted was Serviceman.

c) Instagram: I’ve posted the picture of pamphlet on my Instagram account but

didn’t get any positive response from any of them.

2 . OFFLINE:

a) One pager (Pamphlet): I’ve prepared a pamphlet with description of policy named
“Vision Life Income”. In the beginning I didn’t regularly delivered it therefore it could
not work later I started delivering it regularly and One client got converted.

b) Word of mouth(Relatives): I’ve had a one to one discussion with my relatives, neighbours
etc. one of my relatives converted into Client.

3 . It is found in post survey that people mostly go for offline mode because of lack of
knowledge about the online platform.

4. According to survey mostly people don’t know about perks for insurance specially
the illiterate one . They think its waste to invest in such products .

5. Some works in advertisement sector also need to polish because advertisement the
backbone of the product to be sold. Company can upgrade its online portal so it will
be more convenient to understand how it works.

CHAPTER – 7
 RECOMMENDATION

1. Company should give timely intimation to Advisor & Customer

Relating to Policy document, Policy statements, New Programmes, plans
& Contests through mail/mobile.

2. Focus more on core advantages like higher rate of return and promote
them towards customers.

3. Conduct financial services webinars, seminars, workshops, on

weekends for spreading awareness.

4. Improving the response rate to online queries.

5. Recommend Equity fund for Investors who prefer high risk, high
return.

6. Recommend balanced fund (Debt equity) for Investors who prefer

Moderate riSK.

CHAPTER – 8
 LIMITATIONS

1.It was difficult to find respondent as they were busy & collection of
data was difficult. Therefore, the study is carried out based on the
availability of the respondents.

2.Some people were hesitant to opt for insurance policy from Birla Sun
Life as they were keener towards insurance policies offered by LIC of
India. Some respondent’s behaviour and attitude was not satisfactory .

3.Some of the customer data is been taken through customer coming in

the branch, which may give biased results towards Birla Sun Life.

4. Duration of study was restricted to two month.

 CHAPTER- 9
CONCLUSION

As stated in project , my analysis based on promotional

technique got a good response from the age group of 21-25 and
the technique to be used must be online so that we walk with
the situation we all are facing in this pandemic.
A change in offline to online
platform is the best possible way to grow with the flow. People
of age group 21 to 25 are having internet in hand now a days ,
they suppose to be targeted with online promotion.

From the survey we conclude, there are people who average

income between 5 to 10 lakh and save about 30000 yearly they
want to invest in insurance for their retirement. And mostly
they are students who wants to invest in insurance.
And talking about ratings of promotional activity most of the
people rated 4 star( about 53% out 100%) ( 14 out of 26
people). It means some initiative to be taken by management so
that ratings should be above 95%.

APPENDIX

Questionnaire:
Name –
Gender-

3 . Age Group
a) 21-25
b) 26-30
c) 31-35
d) 36-40

4 . Average Income
a) 5 lakh to 10 lakh
b) 11 lakh to 15 lakh
c) 16 lakh to 20 lakh
d) Above 20

5 . Martial Status
a) Married
b) Unmarried

6 . Occupation
a) Business
b) Service
c) Students
d) Others

7 . Annual Savings
a) 0 -30000
b) 31000-60000
c) 61000- 90000
d) Above 1 lakh
8 . Which of the following long term savings you aware of
a) Life insurance
b) Mutual Fund
c) Fixed Deposit
d) Securities

9 . Are you aware of Aditya Birla Sunlife Insurance

a) Yes
b) No

10 . If ‘YES’ then how you come to know about this

a) Radio
b) Television
c) Social Media
d) Direct Selling
e) Agents
f) Others

11 . On the scale of 1 – 5 how do you rate the promotional activities

a) 1 -very bad
b) 2 -bad
c) 3 -good
d) 4 -very good
e) 5 – excellent
12 . How would you like to buy insurance
a) Online
b) Offline
13 . Which option of payment do you prefer for insurance investment
a) Monthly
b) Quarterly
c) Half yearly
d) Yearly

14 . Which company do you prefer for insurance investment

a) LIC
b) Birla Sunlife Insurance
c) Reliance
d) HDFC
e) Any other

15 . Reason for investment

a) Tax benefit
b) Safety and Security
c) Retirement
d) Child Education