CHAPTER-1

PROFILE OF THE COMPANY

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Name Of The Company:

Bharti AXA Life Insurance Co Ltd

Address:

Bharti AXA Life Insurance Co. Ltd, Kenthol Complex, 2nd floor, Khalini,

Shimla, 17002

Registered Office:

Unit 601 & 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon (E),
Mumbai-400 063

Phone Number:

Toll-free number: 18001024444

E-mail: www.bharti-axalife.com

Website: https://www.bharti-axalife.com/contact-us

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 OVERVIEW OF INSURANCE INDUSTRY

It’s now been more than a decade since the opening up of the insurance sector in India to the
private sector and for foreign players. The past decade has seen considerable growth in the
insurance sector and has seen the introduction of a large number of innovative products – a
natural and positive outcome of increasing competition. The insurance sector plays a very crucial
role in the economy of any country – it increases avenues for savings of individuals, protects the
future of individuals and spreads risks of institutions by forming a large pool of fund. The sector
also contributes significantly to the capital markets and assists in large capital infrastructure
developments of our country through their funds.

The insurance industry in India is divided into 2 basic sectors – Life Insurance and Non-life
Insurance (also called General Insurance and even called Property and Casualty or P&C ).
Both these sectors are governed by Insurance Regulatory and Development Authority
(IRDA) of India which is a government body which frames the rules for the entire industry and
all insurance companies have to abide by them. IRDA is the policy maker for the entire
insurance industry in India and also serves as the custodian of consumers rights.

As the name suggests life insurance companies cover the risks associated with the life of a
person and non-life insurance companies cover other risks associated with our daily living like
health, our vehicles, travel and home insurance to name a few. Non-life insurance sector also
covers a lot of other risks in the corporate world – from simple office insurance to insuring entire
factories and industrial equipments. Over a period of time life insurance policies have started
incorporating an investment component along with the basic insurance cover so that your money
grows while it remains invested with the insurance companies – details about these types of
policies will be taken up in detail in the forthcoming posts in this series. But non-life insurance
companies have so far been restricted to pure risk cover itself.

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 BRIEF HISTORY OF INSURANCE

The beginning

The beginning of insurance business is traced to the city of London. It started with the marine
business. Marine traders, who used to gather at Lloyd’s coffee house in London, agreed to share
loses to goods during transportation by ship. Marine related losses included:-

 Loss by ship by sinking due to bad weather in high seas.

 Goods in transit by ship robbed by sea pirates
 Loss of or damage to the goods in transit by ship due to bad weather in high seas. The
first insurance policy was issued in England in 1583

Life insurance in India

Life insurance is one of the fastest growing sectors in India since 2000 as Government allowed
Private players and FDI up to 26% and recently Cabinet approved a proposal to increase it to
49%. Life Insurance in India was nationalized by incorporating Life Insurance Corporation (LIC)
in 1956. All private life insurance companies at that time were taken over by LIC. In 1993,
the Government of India appointed RN Malhotra Committee to lay down a road map for
privatization of the life insurance sector.

While the committee submitted its report in 1994, it took another six years before the enabling
legislation was passed in the year 2000, legislation amending the Insurance Act of 1938 and
legislating the Insurance Regulatory and Development Authority Act of 2000. The same year,
newly appointed insurance regulator - Insurance Regulatory and Development
Authority IRDA—started issuing licenses to private life insurers.

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 NEED OF INSURANCE

1. LOOKING AFTER YOUR LOVED ONES EVEN AFTER YOU'RE GONE: This is
the most important aspect of life insurance that one needs to factor in. Your family is
dependent on you even after you're gone and you certainly don't want to let them down.
Whether it's for replacing lost income, paying for your child's education or making sure
your spouse get the much-needed financial security, life insurance could save the day for
your surviving dependents.

2. DEALING WITH DEBT: You don't want your family to deal with financial liabilities
during a crisis. Any outstanding debt-a home loan, auto loan, personal loan, or a loan on
credit cards-will be taken care of if you happen to buy the right life insurance policy.

3. HELPS ACHIEVE LONG-TERM GOALS: Since it is an instrument that keeps you

invested for the long term, it would help you achieve your long-term goals such as buying
a home or planning your retirement. It also provides you with diverse investment options
that come along with different types of policies.

4. LIFE INSURANCE SUPPLEMENTS YOUR RETIREMENT GOALS: Who

wouldn't like their retirement savings to last until they do? With a life insurance plan, you
can ensure you have a regular stream of income every month. Putting money in an
annuity is like a pension plan- put in some money regularly in a life insurance product
and enjoy a steady income every month even after retirement.

5. TAX-SAVING PURPOSES: You could save taxes with insurance policies irrespective
of what plan you buy. The premium you pay on an insurance policy is eligible for a
maximum tax benefit of Rs. 1.5 lakh under Section 80C, and for tax-free proceeds on
death/maturity under Section 10 (D) of the Income Tax Act, 1961.

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1.1 COMPANY PROFILE

Bharti AXA General Insurance Company is a joint venture between Bharti Enterprises (a leading

business group with interests into telecom, agri-business, financial services, manufacturing, and

retail sector) and AXA Group (a worldwide leader in insurance and asset management serving

around 105 million clients in over 62 countries). Bharti Enterprises shares 51% stake in the

venture while AXA Group shares 49% stake.

Bharti AXA Life Insurance started its operations in India in the middle of 2006. The company

currently (6th August 2010) has a distribution network spread around 123 cities across India. It

has a wide array of life insurance plans for protection, wealth creation, retirement and health

care. Currently, it has 104 branches around the country.

1.2 NATURE OF THE ORGANIZATION

Bharti AXA brings together strong financial expertise of the Paris-headquartered AXA Group

and Bharti Enterprises - one of India's leading business groups with interests in Telecom,

agricultural business and financial services. Presently, the joint venture has a 51% stake from

Bharti Group and 49% stake from AXA, in line with the regulatory framework on ownership in

the Insurance sector.

Life insurance is a contract between the policy holder and the insurer, where the insurer agrees to

pay the beneficiaries sum of money upon the occurrence of the insured individual's or

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individuals' death or other circumstances such as terminal illness or critical illness. The basic

types of life insurance policy can be categories as follows:

It is the policy offer insurance protection on the limited period. In this term, insurer will pay the

money only when the policy owner pass away or suffer permanent disability during the term of

the policy.

This policy offer whole life protection and the premium is paid throughout policy holder whole

life. The policy holder or beneficiaries will receive sum of money when the policy holder pass

away or suffer permanent disability.

It is the policy consists of protection and savings. The money will be paid when the policy’s

mature or policy holder suffered permanent disability.

It consists of combination of life insurance protection and units of fund managed by insurance

company. The benefits of the policy will paid to policy holder or nominees depending of the

price of the unit at the time policy is surrender or policy holder pass away.

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1.3 COMPANY’S VISION & MISSION.

Vision, Mission and Values

Values are the most critical part of building a company, It is what defines the foundation the

company is built on. Read on to know more about our Vision Mission and Values.

 Vision

To be the Most Preferred Life Insurance Company for our Customers, Employees,

Business Partners & Shareholders

 Mission

To be a profitable top 10 Insurance Company

 Values

Customer Centricity, Innovation, Team Culture, Integrity, Courage

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1.4 PRODUCTS OFFERED

1. PROTECTION PLANS

We all like to plan our lives, our future and we work towards securing it. Life however, can be
unpredictable. Bharti AXA life insurance help you in ensuring that your family is financially
secure even in your absence.

 Bharti AXA Life Flexi Term Plan

This is term plan that’s helps to protect you and your family against an unfortunate event. It
offers you the flexibility to choose from 3 different Life Cover pay out options so that your
family's needs are always met.

 Bharti AXA Life POS Saral Jeevan Bima Yojana

A Non-Linked Non-Participating Term Insurance Plan which is designed to provide Life

Insurance cover in case of death

 Bharti AXA Life Income Protection

A plan where your family receives income in the form of annual instalments for a period of 15 or
20 years in case of an unfortunate event of death.

 Bharti AXA Life Secure Confident

A simple long-term life insurance product at a very affordable cost, which aims to ensure that the
dreams you aspired for your family in your lifetime, don’t remain unfulfilled even in your
absence.

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2. SAVINGS PLAN

Life can be unpredictable, but that does not stop them from making plans, short or long-term
ones. Bharti AXA understands this and hence they have a range of Savings Plans that help you
save regularly and systematically so that you and your family can plan ahead, without hesitation .

 Bharti AXA Life Elite Advantage

A comprehensive savings plan thats gives you the dual benefits of guaranteed pay outs of 8.5%
to 9.5% of sum assured on maturity, paid during maturity payout period and 100% sum assured
at maturity.

 Bharti AXA Life Monthly Income Plan+

A savings plan that offers you guaranteed monthly income with the upside of non-guaranteed
bonuses, along with protection for your family in case of an unfortunate event .

 Bharti AXA Life Dhan Varsha

A traditional non-linked participating plan that offers you Non-Guaranteed Cash Bonuses from
the 7th year, Guaranteed* Survival Benefits from the 10th year onwards, as well as a lump sum
at the end of the Policy Term. All these while protecting your family's future.

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3. INVESTMENT PLANS

Investment plans are life insurance plans that offer multiple avenues to save and grow your
money and protect your loved ones. At Bharti AXA Life, we offer some of the best Investment
plans that can help you plan your out your aspirations in a systematic and disciplined manner.
Depending on your requirement, we offer long-term and short-term investment plans to meet
your needs

 Bharti AXA Life eFuture Invest

A unit-linked, online investment plan that offers you both good returns and an added life cover.
To get the most of this tax-saving investment, all you do is choose between a single premium or
a premium payment term of 5 years while you reap the benefits for 10.

 Bharti AXA Life Grow Wealth

A savings-oriented unit linked insurance plan that offers you multiple fund options to suit your
investment needs with a life insurance cover to protect your family in case of any unfortunate
event. The plan also provides you with additional benefits in the form of loyalty additions .

 Bharti AXA Life Future Invest Plan

An Investment Plan where you invest money for a limited time-frame and reap good returns at
the end of the policy term. To get the most of this tax-saving investment, all you do is choose
between a single premium or a premium payment term of 5 years while you reap the benefits for
10 years.

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4. HEALTH INSURANCE

A Health insurance plan offers financial security to meet health related contingencies. Due to
changing lifestyles, health issues have not just escalated, they have increasingly become more
complex in nature. It becomes imperative therefore to have a health insurance plan in place .

 Bharti AXA Life Triple Health Insurance Plan

A health insurance plan where you can make up-to three Claims for unrelated critical illnesses.
After making the first Claim, all your future premiums are waived off and paid by us.

5. GROUP PLANS

Bharti AXA offers various group plans that help employers/trusts with meeting their employee
benefit liability obligations in a simple, efficient and cost-effective manner and helping
employees to secure their family’s financial independence in case of untimely demise or critical
illness.

 Bharti AXA Life Group Term Insurance Plan

A comprehensive group term insurance plan, which ensures your members/customers can stay
peacefully without any worry about life’s eventualities. The plan provides the flexibility of two
death benefit payout options to ensure adequate financial support

 Bharti AXA Life Group Loan Protect

A comprehensive group credit protection product that safeguards your customer’s family in
unforeseen circumstances, by paying an amount to settle your outstanding liability. An Easy and
inexpensive way of providing financial stability along with your existing offerings.

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 Bharti AXA Life Group Suraksha

A simple, low cost, annually renewable group term product designed for co-operatives,
institutions and NGO’s operating in rural and social sectors.

 Bharti AXA Life Smart Bima

A comprehensive and flexible group term life insurance plan that includes a death benefit as well
as the option of paying premiums in monthly instalments or as annual premiums

6.YODDHA - (FINANCIAL SERVICES INITIATIVE FOR ARMED FORCES)

Bharti AXA comes out with a plan which is especially created for the one who protect us. A plan
for the armed forces that covers war and war-like risks.

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1.5 ORGANIZATION STRUCTURE OF THE COMPANY.

Works through many channels marketing, human resource, finance, information technology,

Marketing wing is divided into -

1) DIRECT SALES FORCE – Have two tired salaried adviser force to target the large and

diverse Bharti Airtel customer base.

2) AGENCY-focus on building a highly productive agency force. This wing needs high quality

of training, and high quality recruitment.

3) BANK ASSURANCE- planes for developing strategic partnership with quality banks.

4) CORPORATE AGENCY AND BROKING CHANNEL- planes for developing strategic

partnership.

Fig 1.2 Hierarchy in Bharti AXA Life Insurance

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1.6 MARKET SHARE & POSITION OF THE COMPANY IN THE INDUSTRY.

A: Bharti-AXA Business build-up in 3 years (INR Crs.)*:

*Source: As per comparison done on the basis of figures published in IRDA journal

B: Bharti-AXA branch build-up in 3 years*:

*Source: As per comparison done on the basis of figures published in IRDA journals.

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1.7Present leadership of company

SNO. NAME DESIGNATION

1 Mr. Harbhajan Singh Managing Director

2 Mr. Sandeep Sharma Chief Financial Officer

3 Ms. Priya Gupta Sales Head

4 Ms. Seema Walia Marketing Head

5 Mr. Ankush Sharma HR & Administration

6 Ms. Anu Popli Chief Information Officer

7 Ms. Sonia Verma Training Head

TABLE 1.1 LEADERSHIP

SNO. NAME DESIGNATION

1 Mr. Rahul Sharma Manager

2 Ms. Seema Walia Marketing Head

TABLE 1.2 DIRECT INTERACTION

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1.8 OBJECTIVE OF THE STUDY

The objective of the study is to:

 To study the plans offered by Bharti Axa Life.

 To analyse the perception of the policy towards the services of the Bharti Axa Life.

 To analyse the marketing environment of Bharti Axa Life and others companies

1.9 METHODOLOGY USED FOR DATA COLLECTION

Research methodology makes the most important contribution towards the enrichment of study.

In a research there are numerous methods and procedures to be applied but it is the nature of the

problem under investigation that determines the adoption of a particular method for all studies.

Methodology adopted

 Questionnaire

Research design

 Exploratory Research Design

Data collection methods

 Primary Data Collection Method

 Secondary Data Collection Method

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Data collection

Primary Sources : Questionnaire

Secondary Sources : Websites

Primary data mean original data that have been collected specially for the purpose in mind. As

far as Primary Data is concerned, The Research was more of a sample survey; making the

respondents fill the Questionnaire has collected the data. The respondents have personally filled

the questionnaires and their attributes regarding the study were collected. For the purpose of

Secondary Data, the researcher has reviewed the different websites to gather information.

Sample unit/sample size

Sampling is that part of statistical practice concerned with the selection of individual

observations intended to yield some knowledge about a population of concern, especially for the

purposes of statistical inference. Each observation measures one or more properties of an

observable entity enumerated to distinguish objects or individuals. Survey weights often need to

be applied to the data to adjust for the sample design.

a) Sample Unit: It refers to the smallest possible individual eligible user of social networking

sites. In the current study the sampling unit is user of social networking sites.

b) Sample Size: 50 users

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Sampling techniques

Sampling Technique: The selection of the respondents will do on the basis of convenience

sampling.

DATA PRESENTATION

Tolls used for data analysis

Data Analysis & Interpretation – Classification & tabulation transforms the raw data collected

through questionnaire in to useful information by organizing and compiling the bits of data

contained in each questionnaire i.e., observation and responses are converted in to

understandable and orderly statistics are used to organize and analyze the data.

 Simple tabulation of data using tally marks.

 Calculating the percentage of the responses.

 Formula used = (no. of responses / total responses) * 100

Tools for analysis

 Pie-chart (Circular chart divided in to sectors, illustrating relative magnitudes or

frequencies

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 CHAPTER-2:

SWOT ANALYSIS OF THE COMPANY

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SWOT analysis of Bharti AXA Life Insurance analyses the brand/company with its strengths,

weaknesses, opportunities & threats. In Bharti AXA Life Insurance SWOT Analysis, the

strengths and weaknesses are the internal factors whereas opportunities and threats are the

external factors.

SWOT Analysis is a proven management framework which enables a brand like Bharti AXA

Life Insurance to benchmark its business & performance as compared to the competitors and

industry. Bharti AXA Life Insurance is one of the leading brands in the banking & financial

services sector. The table below also lists the top Bharti AXA Life Insurance competitors and

elaborates Bharti AXA Life Insurance market segmentation, target group, positioning & Unique

Selling Proposition (USP).

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2.1 Strengths & Weaknesses of the company.

Strengths

1. Brand Value: Bharti Axa Life Insurance is one of the most respected and well-known

brand in the insurance sector in the country.

2. Target Group: They do not target a specific age group or people with specific income

category. They have different policy for different age and economic groups. As a result,

they have a huge target base.

3. Digital Presence: They provide a seamless service to their customers via their digital

platforms and e-initiatives.

4. Products: They have products suited for everyone. Apart from this they also tailor make

insurance plans according to the demand of the customers.

5. Expertise: The Axa group has a strong footing in the financial business and hence brings

in their expertise which has been fruitful to the company’s success.

6. Financial Backing: Both of its parent companies have a strong financial footing in their

businesses. This gives Bharti Axa a room to take risks and thereby gain big rewards.

7. Experience in Business: Both of the parent companies have rich business knowledge

which makes this JV safer to pursue and easier to trust. Axa is a global leader in the

insurance sector with a strong presence in 57 countries.

8. Promotions: They have a very strong marketing campaign which makes their brand

grow stronger and easier to recognise. This enhances their brand image.

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Weakness in the SWOT Analysis of Bharti Axa Life Insurance :

1. Penetration levels: They are very popular in urban India but they are not so popular in

the rural India. Thus they are losing out on a very large customer base.

2. Agents: Unlike other life insurance companies they do not have a very big agent base.

Agents make it possible to increase penetration and make more sell among the customers.

3. BHARTI AXA LIFE – BHARTI AXA LIFE India is a major problem for Bharti AXA

life insurance because of the fact that BHARTI AXA LIFE India is the largest insurance

service provider in India and has a fantastic customer and user base as well as agent base

in India.

2.2 OPPORTUNITIES & THREATS THAT THE COMPANY FACES.

Opportunities in the SWOT Analysis of Bharti Axa Life Insurance :

1. Huge Market: India is a second largest populated country in the world. But only a mere

small percentage of the population is insured. This gives the insurance companies a big

opportunity to expand and increase their customer base.

2. Growing Economy: The disposable income of the middle and upper class of the

population is increasing. They have also become aware of the benefits of insurance and

are eagerly opting for it.

3. Health Insurance: Increasing in health issues and concerns have made people pursue

this aggressively.

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 4. Cross Selling – Insurance is an excellent cross sell products and if Bharti AXA ties up

with multiple vendors, then it can push its own products along with other products

thereby increasing the sale of insurance.

Threats in the SWOT Analysis of Bharti Axa Life Insurance :

1. Stringent Economic laws – Economic laws and financial laws by RBI and government

are always a threat to financial companies because the laws can change at any time

thereby threatening the operations of the company itself.

2. Competition: There is high competition in this sector with many big and old insurance

companies like Aviva, Bajaj Allianz, ICICI Prudential Life Insurance, etc.

3. Variable pricing – Price Changes is one of the biggest threat to this industry. The prices

of a simple life insurance policy by one service provider might be very different from the

prices of any service provider. Hence it is important for the company to justify the price

difference. This requires agents in place, something which Bharti axa life insurance is

lacking.

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Bharti AXA Life Insurance SWOT, Competitors, Marketing STP & Brand analysis Table

Bharti AXA Life Insurance Brand Analysis

Parent Company Bharti Enterprise and AXA Asia Pacific Holdings

Category Insurance and finance

Sector Banking & Financial Services

Tagline/ Slogan Jeevan Suraksha ka Naya Nazariya; Be Life Confident

USP Bharti is an established brand in India along with AXA’s global presence

Bharti AXA Life Insurance STP

Segment Personal and Institutional Insurance

Target Group Urban and Rural Investors

Positioning Complete Insurance and financial solutions

Bharti AXA Life Insurance Competition

Below are the top 3 Bharti AXA Life Insurance competitors:

1. Bajaj Allianz
Competitors
2. Sahara Life Insurance

3. Reliance Life Insurance

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 CHAPTER-3:

FUNCTIONAL ANALYSIS OF THE COMPANY

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3.1 Marketing

Bharti AXA Group:-

 Bharti Airtel / Airtel Ltd.

 Bharti AXA Insurance

 Bharti-Tele Tech Ltd

 Bharti AXA Investment Managers

 Bharti Tele Soft

 Bharti Resources

 Bharti Foundation

Bharti Airtel Ltd. :- Bharti Airtel Ltd is one of Asia's leading telecommunications service

provider. The Company is India’s largest integrated telecom company in terms of customer base

and offers Mobile Services, Fixed Line services, Broadband & IPTV, DTH service named Airtel

Digital TV , Long Distance and Enterprise services. Airtel also offers mobile services in Sri

Lanka on a state-of-the art 3.5 G network.

Bharti AXA Insurance :- Bharti AXA Insurance Company, India, is a leader in life insurance

products, financial protection, wealth management and financial services.

Bharti-Tele Tech Ltd : Bharti-Tele tech currently commands a leading share in retail as well as

the telecom service provider segments. Buoyed by its experience & success in distribution &

marketing as well as the changing sphere of Indian economy, the Company plans to offer a high

range of products to the consumers, going forward.

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Bharti AXA Investment Managers :- Bharti AXA Investment Managers Pvt. Ltd. is a joint

venture between Bharti Ventures Limited - one of the foremost business groups in India, AXA

Investment Managers (AXA IM) and AXA Asia Pacific Holdings (AXA APH) (through

NMIPL). We focus on excellence and performance, with our professional fund management

taking care of your imperative financial needs, keeping tomorrow in check while tracking a

dynamic today.

Bharti Tele Soft :- Bharti Tele soft is the leading provider of integrated VAS solutions for

mobile operators in emerging markets. Among the top 3 global providers of integrated VAS

solutions in rapidly growing markets, Bharti Telesoft has deployed solutions for over 100 mobile

operator customers in over 70 countries worldwide.

Bharti Resources :- Bharti Learning Systems is a wholly owned subsidiary of Bharti

Enterprises, which provides end-to-end learning and skill- building solutions for the Bharti

Group companies and several large corporates. It provides solutions that impact business

performance through enhanced employee productivity, customer profitability and effective talent

transformation. Besides, Bharti Learning partners a host of leading organisations such as

American Express, Genpact, Maruti Suzuki, PepsiCo, HCL, Cummins, LG, JCB, Deutsche

Bank, Motilal Oswal, Blue Dart, Kaya, CEAT, Everest Industries and AXIS Sales etc.

Bharti Foundation :- Bharti Foundation, the philanthropic arm of Bharti Enterprises was

established in 2000 with a vision "To help underprivileged children and young people of our

country realize their potential". Bharti Foundation is an organization established under the Laws

of India with charitable status pursuant to a "Deed of Trust" dated August 7, 2000; registered at

New Delhi on August 25, 2000.

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Market Share

If we look at the status of Bharti AXA Life Insurance’s market share in comparison of other

private company in comparison of premium earned:-

No Insurer Market Share (%)

1. Bajaj Allianz 7.56

2. ICICI Prudential 7.35

3. Bharti AXA 4.10

4. HDFC Standard Life 2.87

5. SBI Life 2.31

6. Birla Sun Life 1.89

7. Tata AIG 1.29

8. Max New York 1.23

9. Aviva 1.14

10. Kotak Mahindra OLD Mutual 1.11

11. ING Vysya 0.79

12. Reliance Life 0.54

13. MetLife 0.40

14. Shriram Life 0.03

Fig 3.1 COMPARISON

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Marketing Mix of Bharti Axa Life Insurance – Bharti Axa Life Insurance Marketing Mix

Bharati Axa Life Insurance Bank is a leading private sector bank providing insurance service in

India. The company is a joint enterprise between Bharat Enterprises and Axa Group which is a

French company. The company provides a wide array of insurance products and services in the

areas of protection, wealth creation, retirement, and health care. The company was founded in

2006. The company has 124 branches and 16,000 advisors all across India.

In 2009, it earned the distinction of being the first private sector insurance company to receive

double certification of ISO 27001:2005 and ISO 9001:2008.

Its chief competitors are as follows-

 Aviva Life Insurance Co. India Ltd

 Bajaj Allianz Life Insurance Co. Ltd

 Birla Life Insurance Co. India Ltd

Promotions in the Marketing Mix of Bharti Axa Life Insurance :

Bharati Axa Life Insurance operates in a competitive industry with several players operating at

the same time. Like all private companies, it aims at increasing its market share in public.

Therefore, it tries its best to make its products and services known and accessible to the public.

The various mediums for promoting its products and services include internet, hoardings,

advertisement through newspaper, television, magazines, and radio to name a few.

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DATA ANALYSIS AND INTERPRETATION

Q1. Your age?

Table No. 1:

Particulars No. of Respondents Percentage

21-30 5 10%

31-40 11 22%

41-50 20 40%

51-60 14 28%

Total 50 100%

Fig 3.1 Your Age

Interpretation: In the above question i have asked people their age in which 10% people are
from age group 21-30 years, 22% people are from age group 31-40years, 40% people are from
age group 41-50 years, 28% people are from age group 51-60 years. Hence we found out that
maximum people are from age group 41-50 years.
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Q2. Your income?

Table No. 2:

Particulars No. of Respondents Percentage

10000-25000 14 28%

25001-50000 18 36%

Above 50000 18 36%

Total 50 100%

Fig 3.2 Your Income

Interpretation

In the second question i have asked people their income, in which 28% people lie in the income

group between 10000-25000, 36% people lie in the income group between 25001-50000,28%

people lie in the income group between 10000-25000, 36% people lie in the income group above

50000.

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Q3 Your occupation?

Table No. 3:

Particulars No. of Respondents Percentage

Business 17 34%

Services 19 38%

Retired 10 20%

Others 4 8%

Total 50 100%

Graph No. 3:

Fig 3.3 Your Occupation

Interpretation

In this people where asked their occupation. 34% people do business, 38% people belong to the

service sector, 20% people are retired and 8% people have marked their occupation as others.

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Q4. Are you insured?

Table No. 4:

Particulars No. of Respondents Percentage

Yes 40 80%

No 10 20%

Total 50 100%

Fig3.5 Are you Insured?

Interpretation

In this question people are asked whether they are insured or not. 80% people said YES and 20%

people said No.

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Q5.From which sector you are insured?

Table No. 5:

Particulars No. of Respondents Percentage

Public 5 12.5%

Private 35 87.5%

Total 40 100%

Fig 3.5 From which sector you insured?

Interpretation

In this question those people who are insured were asked the question from which sector they are

insured. 87.5% people said private and 12.5% people got themselves insured from public sector.

From which we got to know most of the people got themselves insured from private sector.

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Q6. From which private insurance company you are insured?

Table No. 6:

Particulars No. of Respondents Percentage

ICIC Prudential 8 22.9%

HDFC Standard 10 28.6%

Bharti axa life insurance 11 31.4%

Others 6 17.1%

Total 35 100%

Fig 3.6 For which private insurance company you are insured?

Interpretation

In this question people who got themselves insured from private section were asked their

insurance company. 22.9% people said ICIC Prudential, 28.6% people said HDFC Standard,

31.4% people said Bharti AXA life insurance, and 17.1% people said other.

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Q7. How you got to know about insurance?

Table No. 7:

Particulars No. of Respondents Percentage

Friends & Relatives 16 40%

Electronic Media 6 15%

Insuring agent 15 37.5%

Others 3 7.5%

Total 40 100%

Fig 3.7 How you got to know about insurance?

Interpretation

In this question people were asked how they got to know about insurance.40% people said from

Friends & Relatives, 15% people said from Electronic Media, 37.5% people said from insuring

agent and 7.5% people said others. From this we got know that most of the people got to know

about insurance from friends or through insuring agent.

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Q8. How many insurance policies you have?

Table No. 8:

Particulars No. of Respondents Percentage

Upto3 11 27.5%

3-6 18 45%

More than 6 11 27.5%

Total 40 100%

Fig 3.8 How many insurance policies you have?

Interpretation

In this question people were asked the number of insurance policies they hold. 27.5% people said
Upto 3, 45% people said 3-6, 27.5% people said More than 6. From this we got know most of
the people have policies lying in the group between 3-6

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Q9. For what you have insured yourself?

Table No. 9:

Particulars No. of Respondents Percentage

For saving 8 20%

For tax benefits 10 25%

For covering risk to life 7 17.5%

For security to family 9 22.5%

All of the above 6 15%

None of the above 0 0%

Total 40 100%

Fig 3.9 For what you have insured yourself?

Interpretation

In this question people were asked the reason for which they have got themselves insured. 20%

said For saving, 25% said For tax benefits, 17.5% said For covering risk to life, 22.5% people

said For security to family, 15% said All of the above

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Q10. How regularly do you pay your premiums?

Table No. 10

Particulars No. of Respondents Percentage

Monthly 8 20%

Quarterly 12 30%

Half Year 14 35%

Yearly 6 15%

Total 40 100%

Fig 3.10 How regularly do you pay your premiums?

Interpretation

In this question were asked how regularly they pay their premium.20% people said Monthly,

30% people said Quaterly, 35% people said Half Yearly and 15% people said yearly. Most of the

people pay their premiums Hlaf yearly or Quaterly.

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Q.11 Have you received any incentive from insurance agent on insurance premium?

Table No. 12:

Particulars No. of Respondent Percentage

Yes 25 62.5%

No 15 37.5%

TOTAL 40 100%

Fig 3.1Have you received any incentive from insurance agent on insurance premium?

Interpretation:

In this question people were asked about the incentives from insurance agent on insurance

premium. 62.5% people get incentives, 37.5% does not get any incentive on insurance premium.

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 CHAPTER-4:

LESSONS LEARNT

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4.1 RESULTS OF THE STUDY:

 In the above question we have surveyed people who are covered under the policy. 75%

people say Yes and 25% say No.

 In the above question we have surveyed people who are interested in BHARTI AXA

LIFE.80% people are covered with Insurance and 20% people are interested in

Investment.

 In this people are going under medical treatment 30% say Yes and 70% say No.

 In this question we are surveyed that who are satisfied with insurance. 80% people were

satisfied with insurance and 20% are not satisfied.

 In this question people who are interested in BHARTI AXA LIFE. 90% who are looking

or interested in BHARTI AXA LIFE and 10% not interested.

 In this question we surveyed the occupation. 50% people say service, 15% say

business,15 % are retired and 20% are other.

 In this question surveyed the income of peoples. 50% say 10000-15000, 25% say 15001-

25000 and 25% say above 25000.

 In this question people who are satisfied after investing in BHARTI AXA LIFE. 60% say

Good, 20% say average satisfied with the investment decision and 20% say cheated.

 People who invest in insurance plan because of tax benefits.90% people say Yes and 10%

say No.

 In this surveyed that people were said that agent is not required for BHARTI AXA LIFE.

55% say Yes and 45% say No.

 From the above graph shows that 33% of the respondents came to know of BHARTI

AXA LIFE Insurance through TV ads, 24% of the respondents through magazines, 21%

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 of the respondents through the existing customers and 12% of respondents from friends,

10% of respondents through internet. The above graph explained that majority of

respondents are TV ads and Magazines.

 The above graph reveals that best perception comes from 43%, 26% have good

perception about the BHARTI AXA LIFE Insurance and rest by 17% have ordinary ,14%

have poor perception.

 The above graph reveals that 30% of respondent strongly agree BHARTI AXA LIFE

Insurance have good quality, 45% agree, 20% neither agree nor disagree and only 5%

respondents disagree about its quality of the products.

 The above graph shows that 44% of respondent says superb about its plan, 18% says

excellent, 24% says good and 14% of respondents says fair.

 The above graph shows that 80% of respondent use BHARTI AXA LIFE Insurance and

only 20% of respondents don’t use BHARTI AXA LIFE Insurance.

 The above graph shows that 80% of respondent says that BHARTI AXA LIFE Insurance

are more Quality & beneficial than others.

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4.2 LESSONS LEARNT

 As we have been there we have experienced and gained the knowledge about the proper

industry. In books we acquire only theoretical knowledge, but in actual, the pragmatic

implementation of the same, can be grasped only by visiting an industry, which BHARTI

AXA LIFE has provided to us.

 We have learned that how managers are able to manage an industry at a large scale.

 We come to know that how we implement our ideas in practical way.

 The workers of BHARTI AXA LIFE are very friendly and adjusting, they give us a

chance to know more about their mechanism.

4.3 EXPERIENCE GAINED

During my time as an intern I was able to independently work on projects while learning from

the experiences and expertise of the staff. Not only did they want me to work on my own to grow

professionally, but they wanted me to succeed and learn as well. Never before have I meant a

group of staff members that cared so deeply about their interns, other staff members, and the

children with whom they serve.

I truly learned what the statement “Power of a Wish” meant during my internship. These families

and children touch your hearts and make you understand what it means to come to work

everyday and accomplish something bigger than yourself. As an intern you will learn that a job

does exist that allows you to wake up every day and be excited to go in and learn and experience

something new and challenging.

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 During the survey, it has been found that people have great awareness about various

companies but a lot more has to be done, especially by smaller companies like Life

Insurance to establish their market presence.

 People are beginning to look beyond BHARTI AXA LIFE for their insurance needs and

are willing to trust private players with their hard earned money.

 People in general have been influenced by the marketing activities of insurance

companies. A high penetration of print, radio and TV ad campaigns over the years is

beginning to have its impact now.

 Another important trend was in terms of people viewing insurance as a tax saving and

investment instrument as much as protective one.

 The general satisfaction levels among customer with regards to Bharti Axa Life and

agents still requires improvement. Here lies the opportunity for a relatively new comer

like Life Insurance. BHARTI AXA LIFE has never been known for prompt service or

customer oriented methods but Life Insurance can build its reputation based on these

factors.

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4.4 SUGGESTION

Some of the recommendation and suggestion are as follows:

 As BHARTI AXA LIFE is still the most recalled brand among the masses so more

advertisement needs to be done via television, radio, hoardings, CSR activites,

promotional events etc.

 More than 50% of the market is untapped so networking via life advisors, corporate

firms, other agencies should be done to tap the untapped market.

 Group insurance should be provided to schools. colleges. societies & different

organizations .

 As majority of the population lives in rural areas so they should be targeted simple and

affordable plans for them.

 Life Advisor are the one which brings majority of the business for the company. So more

and more advisors should be recruited and paid good commission for their work.

 In today’s corporate world customer satisfaction is the key element to earn profit and run

the business. So the best service should be given before and after the commencement of

the policy.

 Better service quality should include-issuing Bharti Axa Life on time, providing claims

on time, proper communication via mail or courier on timely basis to aware customer

about the Bharti Axa Life status.

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4.5 LIMITATIONS OF THE STUDY

Every scientific study has certain limitations and the present study is no more exception. These

are:

 Interpretation of data may vary from individual depending on the individual

understanding the product features and services of the company.

 The method lacks flexibility. In case of inadequate or incomplete information the result

may deviate.

 It is very difficult to check the accuracy of the information provided.

 Since all the products and services are not widely used by all the customers it is difficult

to draw realistic conclusions based on the survey.

 It is very difficult to check the accuracy of the information provided

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 BIBLIOGRAPHY

Web links:-

 https://www.bharti-axalife.com/

 https://en.wikipedia.org/wiki/Bharti_AXA_General_Insurance

 https://www.marketing91.com/marketing-mix-bharti-axa-life-insurance/

 https://www.bharti-axalife.com/about-bharti

 https://www.mbaskool.com/brandguide/banking-and-financial-services/1243-bharti-axa-

life-insurance.html

 https://www.marketing91.com/swot-analysis-bharti-axa-life-insurance/

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 ANNEXURE

QUESTIONNAIRE
Customer name:- Mr/Mrs/Miss………………………
Address: - ……………………………………………………
……………………………………………………
Contact no: - …………………………………………………….
Age : ……………………………………………………
Q1.Your age?
A) 21-30
B) 31-40
C) 41-50
D) 51-60
Q2. Your income?
A) 10000-25000
B) 25001-50000
C) Above 50000
Q3. Your occupation?
A) Business
B) Service
C) Retired
D) Others

Q4. Are you insured?

A) Yes
B) No

Q5. From which sector you insured?

A) Public
B) Private

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Q6. From which private insurance company you are insured?
A) ICIC Prudential
B) HDFC Standard
C) Bharti AXA Life Insurance
D) Other
Q7.How you got to know about insurance ?
A) Friends & Relatives
B) Electronic Media
C) Insuring agent
D) Others
Q8. How many insurance policies you have?
A) Upto 3
B) 3-6
C) More than 6
Q9. For what you have insured yourself?
A) For saving
B) For tax benefits
C) For covering risk to life
D) For Security to life
E) All of the above
F) None of the above
Q10. How regularly do you pay your premiums?
A) Monthly
B) Quarterly
C) Half Yearly
D) Yearly
Q11. Have you received any incentive from insurance agent on insurance premium?
A) Yes
B) No

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