GOEL INSTITUTE OF TECHNOLOGY AND

MANAGEMENT LUCKNOW

SUMMER TRAINING PROJECT REPORT

ON
“THE SUMMER TRAINING REPORT ON
SALES AND BUSINESS DEVELOPMENT AT
SHRIRAM LIFE INSURANCE”
SUBMITTED IN PARTIAL FULFILLMENT OF REQUIREMENT FOR
i

THE AWARD OF DEGREEOF

MASTER OF BUSINESS ADMINISTRATION

To
DR. APJ ABDUL KALAM TECHNICAL UNIVERSITY, LUCKNOW

For the Session – 2022-23

UNDER GUIDANCE OF: SUBMITTED BY:

Miss. Vidushi Srivastava Rohan Srivastava

(Assistant Professor) Roll No.- 2103600700095

GITM, Lucknow MBA 3rd Semester

CERTIFICATE BY ORGANIZATION
 CERTIFICATE BY GUIDE

This Is to Certify That Rohan Srivastava bearing a Roll No 2103600700095 has successfully

completed required duration of internship programme Shriram Life Insurance Company

Limited, Lucknow and he has prepared this project report under my guidance and supervision.

This report has not been submitted to any other university or institution for the award of

MBA Degree.

Miss. Vidushi Srivastava

(Assistant Professor)
GITM, Lucknow
 CERTIFICATE BY DIRECTOR

This is to certify to that report titled “THE SUMMER TRAINING REPORT ON SALES

AND BUSINESS DEVELOPMENT AT SHRIRAM LIFE INSURANCE” submitted to

Dr. APJ Abdul Kalam Technical University, Lucknow, in partial fulfillment of the

requirement for the award of degree of master of business administration is a bonafide record

of the project work done by Rohan Srivastava submitted of Goel Institute of technology

and management.

DR. RISHI ASTHANA

Director, GITM, Lucknow

 DECLARATION

This is to declare that I Rohan Srivastava student of MBA, have personally worked

on the project entitled “THE SUMMER TRAINING REPORT ON SALES AND

BUSINESS DEVELOPMENT AT SHRIRAM LIFE INSURANCE. The data

mentioned in this report were obtained during genuine work done and collected by

me. The data obtained from other sources have been duly acknowledged. The result

embodied in this project has not been submitted to any other University or Institute

for the award of any degree.

 ACKNOWLEDGEMENT

Gratitude is not a thing of expression; it is more a matter of feeling. There is always a

sense of gratitude which one express for others for their help and supervision in achieving the

goals. I too express my deep gratitude to each and everyone who has been helpful to me in

completing the project report successfully. I would also like to thank Almighty God for

blessing showered on me during the completion of dissertation report. First of all, I am highly

thankful for allowing me to pursue my dissertation report on “THE SUMMER TRAINING

REPORT ON SALES AND BUSINESS DEVELOPMENT AT SHRIRAM LIFE

INSURANCE”.

This project is a result of the hard work and sincere effort put by my hands. And I am grateful

to for giving me this opportunity to do my project work in Shriram Life Insurance

Company Limited.

I also wish to express my sincere thanks to all the employee of Shriram Life

Insurance Company Limited who have directly or indirectly help me in completing my

project work.
 EXECUTIVE SUMMARY

Today’s competition world, the insurance sector has maximum growth and

opportunities as compared to the other sectors. Insurance has the 70%-80% of

growth while as FMCG sector has 15-18% of growth rate. This growth drives

me to do project in this sector and SHRIRAM LIFE Standard life Insurance

Company Ltd has given me a opportunity to work and get experience in highly

competitive and growing sector.

The success story of good market share of different market organizations

depends upon the availability of product and services near to the customer, it

can be distributed through a distribution channel.

Agents are the way for the insurance companies through which policies and

benefits of the company can be explained to the customer.

 TABLE OF CONTENT

Certificate from the Organization

Bona-fide Certificate of Dean/HOD

Declaration

Acknowledgement

Executive Summary

Sr. No Titles Pg No.

1. Company profile

2. Vision and mission of the organization

3. Conceptual framework

4. Work profile

5. Objectives of the study

6. Skills and workload

7. Key learning

8. Micro research problem &

Feasible solutions

9. Data analysis & interpretations

10. Findings

11. Suggestions

12. Conclusion

13. Biblography

14. Appendix
COMPANY PROFILE
 COMPANY PROFILE

Established in the year 1974, the Shriram Group, comprising 750 Branches and

Service Centres, in India's premier financial services chain. This company is the

largest player in Truck Financing and Chit funds in the Indian subcontinent.

The group, having an annual turnover of Rs. 6,000 crore (USD 1.3 billion),

has a significant presence in the Insurance Consultancy, Consumer Durable Finance

and Stock Broking businesses. It also have diversified investments in areas such as

Information Technology, Pharmaceuticals, Property Development, Project

Engineering, Packaging and Auto Components.

It employ over 11,000 employees across the countries that are committed to

providing excellent customer service. It also have over 75,000 agents nationwide who

reach out to its customers in even the most remote areas.

The Shriram Group's business ventures are built on providing the most

efficient and customer-focused services based on the simple principle of putting

people first. This 'People First' business philosophy has earned them unstinted

customer loyalty through many generations.

HISTORY AND MILESTONE:

APRIL 2005:

Shriram Group attracts largest Venture Capital Investment in the Indian non-

banking financial sector, from Overseas

JULY 2004:

UTI Bank picks up equity stake in two Shriram Group companies

17MARCH 2003:

Shriram Investment Limited received the Mother Teresa Award for Corporate

Citizenship.

DECEMBER2002

Shriram Group enters into strategic alliance with Citicorp Finance and

Cummins Auto Services

31AUGUST2002

Shriram Group ties up with UTI Bank for Retail Truck Financing

Scheme to offer low cost loans for purchase of new or used trucks to transport

operators.

7MAY2002

Ms. Akhila Srinivasan awarded as the "Outstanding Woman Professional" for the

year 2002

4FEBRUARY2000

Shriram Recon Trucks incorporated as India's first corporate network for selling

reconditioned used trucks.

15DECEMBER1999

Medicorp, the flagship company of Shriram group’s pharmacy division

became the first Indian company to win the Indian Drug Manufacturers Association
27 MARCH1986

Shriram City Union Finance Ltd. Incorporated for cars and two-

wheelers.

12MARCH198

Shriram Investments Ltd. Incorporated

13JUNE1979

Shriram Transport Finance Company Ltd. Incorporated

NON-BANKING FINANCIAL COMPANY (NBFC) – A GENERAL

SCENARIO

Non-Banking Financial Company (NBFC) is a company registered under the

Companies Act, 1956 and is engaged in the business of loans and advances,

acquisition of shares/stock/bonds/debentures/securities issued by Government or local

authority or other securities of marketable nature, leasing, hire-purchase, insurance

business, chit business but does not include any institution whose principal business is

that of agriculture activity, industrial activity, sale/purchase/construction of

immovable property. A non-banking institution which is a company and which has its

principal business of receiving deposits under any scheme or arrangement or any

other manner, or lending in any manner is also a non-banking financial company

(Residuary non-banking company).

DIFFERENCE BETWEEN BANKS & NBFC ?

NBFCs are doing functions akin to that of banks, however there are a few

differences:

i. A NBFC cannot accept demand deposits;

ii. It is not a part of the payment and settlement system and as such cannot

issue cheques to its customers; and

iii. Deposit insurance facility of DICGC is not available for NBFC depositors unlike

in case of banks.

COMMERCIAL VEHICLE

It is the funding of products include, trucks, buses, tippers, light commercial

vehicles, pick ups, 3 wheelers, etc.

Range of services: funding of new vehicles, refinance on used vehicles,

balance transfer on high cost loans, top up on existing loans, Extend product, working

capital loans & other banking products.

Who are eligible?

Any individual / Partnership firm / company with more than 2 years business

experience. Ownership of a vehicle is not mandatory. Funding extended to First Time

User, Transporters and Captive Consumers.

How much?

Loan amount can vary from a few thousands to crore depending upon the specific

requirement.

Funding can be up to the extent of 100 % of the chassis, body funding can be

extended on special requirement & on the past experience.

 Generally undertaken is Hypothecation funding. They are also taking over an

old high-interest loan and converting it into low interest loan.

Repayment:

In general repayment period is of 3 -4 years, however depending on the nature of the

deal the tenure can vary from 6 - 60 months.

The repayment schedule & the amortization schedule is sent on disbursement of the

loan.

Interest:

Interest is charged on a flat rate based on the scheme applicable for the particular

product.

FARM EQUIPMENT LOANS

Farm equipment loan has also a big chunk in the vehicle finance.

Eligibility :-

Agricultural Users

Any individual aged above 21 years at the beginning of the tenure and below 65 years

by the end of the tenure; involved in agriculture for the last 5 years.

Having minimum 2 acres of land with its value at least twice the loan amount.

Staying in the same place for at least 3 years.

Having an annual income equal to the yearly installment

Mortgage of land of 2 to 3 times of the loan amount

Commercial Users
 Any individual aged above 21 years at the beginning of the tenure and below

65 years by the end of the tenure; involved in business for the last 3 years.

Owns at least one tractor or commercial vehicle.

Owns either a house or an office or at least 2 acres of land.

Has a permanent phone connection either at office or at home.

Loan Amount:

The loan amount varies from customer to customer depending on the valuation

of the land being mortgaged, income of the customer and tenure desired. A maximum

of 100% of the cost of the tractor, 75% of the cost of the trailer and 50% of the cost of

the implements is funded.

Documentation:

Agricultural use

Application form with photograph of the customer and all co applicants and/or

guarantor.

Performa Invoice of the asset to be funded from an authorized dealer.

Land records of the borrower/s.

Land valuation and title search report of the land.

Residence proof of the borrower/s.

Identity proof of the borrower/s.

Signature verification of the borrower/s.

Loan agreement, duly signed by the applicants and guarantor.

2 SPDCs(Security Post Dated Cheques) for entire tenure.

Commercial Use

Application form with photograph of the customer and all co applicants and/or

guarantor.

Proforma Invoice of the asset to be funded from an authorized dealer.

Proof of Income (any of the following) :

- Billing statement for the past one year

- Latest Income tax Return

- Last 6 months bank statement

Residence proof of the borrower/s.

Identity proof of the borrower/s.

Signature verification of the borrower/s.

Loan agreement, duly signed by the applicants and guarantor.

2 SPDCs(Security Post Dated Cheques) for entire tenure.

Rates & Fees:

The rate of interest varies from customer to customer and depends on various factors

like land holding, loan amount, viability of the proposition and the underlying

collaterals provided.

Interest:

Interest is charged on a monthly/quarterly/half-yearly reducing balance basis as the

case may be. Every installment that is paid has a component of principal as well as

interest. Interest is charged on the principal outstanding after every installment

payment.

TWO WHEELERS:
Two wheeler finance is comparably Simple, Friendly and Quick.

Loan Schemes are available from Rs.7500/- onwards to Rs.150000/- in easy

installments over a period of 6 to 36 months.

Eligibility Criteria:

1. Salaried Individuals

2. Self Employed Individuals

3. Pensioners, Housewives & Students

4. Partnership Entities

5. Private Limited Companies

6. Public Limited Companies

Interest rates: Interest rate is charged on a monthly reducing balance .

Documents:

Identity Proofs

Residence Proof

Income Proof

Post Dated Cheques

Copy of Credit Card

CC billing statement

Bank passbook/Statement

No objection Certificate

AWARDS AND RECOGNITION

 Recipient of the social responsiveness awards instituted by Business world –

compaq at national level under the auspices of FICCI, Delhi.

Adjudged as the third prize winner for having rended commendable service in

the areas of social welfare and rural development.

Ms. Akhila Srinivasan receiving the social responsiveness Award instituted by

Business World – Company from the Hon’ble Vice – President of India Krishna Kant

in the year 1999.

Recipient of outstanding woman professional for 2000 – 01 by FICCI – FICCI

Ladies organisation (FLO). The award was given by Ms. Sheila dixit Chief minister

Delhi.

Mother Teresa award for corporate citizenship instituted by Loyola institute of

Business Administration (LIBA) Chennai, 2002.

SOCIAL WELFARE INITATIVES

They have always belived in delivering financial value with a human face. As

a company firmly grounded up a middle class ethos, we take our social

responsibilities very seriously.

 Their corporate Social Responsibility (CSR) initiative started with the Shriram

Social Welfare Trust (SSWF) that was set up in the year 1993. SSWT is today active

in the following areas.

 Orphan and destitute care

 Primary education for the rural poor

 Micro – credit financing through self- help groups for the marginalized

 Empowerment and upliftment of women in villages.

OPRHAN AND DESTITUTE CHILDREN:

To swiftly help the poor and the needy to be self reliant and live with dignity, not

charity. The primary focus and beneficiaries of the Trust’s activities are.

a. Abandond neglected and destitute children.

b. Juvenile delinquents in need of care and protection.

c. Children of poor and illiterate parents.

d. Disadvantaged and marginalized section of women, particularly rural women

MICRO CREDIT FINANCING THROUGH SELF-HELP GROUPS FOR THE

MARGINALIZED WOMEN IN VILLAGES.

a. Launch of Shriram Rural Development Project (SRDP) to create and develop

b. Social and human capital among the poor.

c. Micro credit financing through self help groups in 156 villages in Tamil Nadu,

Andhra Pradesh and Karnataka.

PRIMARY EDUCATION FOR THE RURAL POOR:

The trust runs four schools in rural areas at Thiruneermalai, Pallikaranai,

Moovarasampet in Tamil Nadu and inn Prakash Nagar, Guntur Dist. In Andhra

Pradesh. Over 2000 children receive free education. Schools offer education up to

class VII and student will progressively move up to higher secondary level.
FUTURE PLANS :

a. To start six primary schools for the rural poor in the villages of Andhra Pradesh.

b. Government of Andhra Pradesh to hand over 3.5 acres of land to SSET in six

districts.

c. Immediate Plans: to start two schools in Cudapah and Guntur districts in June 2005.

LONG TERM BENEFITS OF THE PROGRAM:

a. Reduction in rural indebtedness

b. Bank/institutional credit for investment in income – generation activities.

c. Improved household food security round the year, better nutrition.

d. Improved household income.

e. Empowerment of Women.

f. Greater leverage and status of SHG members in local communities and with the

state.

THE FUTURE ACCORDING TO SHRIRAM

1. To enlarge the scope of micro credit financing activity through NBFC

Shriram Investment Limited.

2. To extend activities to Bihar, Kharkand, and Eastern Uttar Pradesh.

3. To lend credit at low interest rates to 3 lakh women below poverty line in the

next 3 years.

NATIONAL AWARDS WON

 Business World Compaq award fota Social Responsiveness instituted by

FICCI from the Hon’ble Vice – President of India Mr. Krishna Kant on 1999.
  Mother Teresa award for Corporate Citizenship instituted by Loyola Institute

of Business Administration (LIBA), Chennai in 2002.

PRODUCT PROFILE

1.TRUCK FINANCE

1. Shriram Truck Financing Companies. The wheels of progress.

2. Largest NBFC in the country exclusively engaged in financing of heavy

commercial vehicles.

3. Monopoly position in financing of used vehicles.

4. All India presence with a branch network of 260 offices and employing over

4000 people.

5. Growing at the rate of 30% per annum.

6. Funds managed – Rs 6000 crores.

7. Equity investors - Citicorp,, UTI Banks, Reliance Capital and FMO

Netherlands have added tremendous value and strength.

8. Venture capital firm Chris capital joins as a strategic partner by acquiring

21% equity.

We entered the Consumer Durable Finance business in early 2002 through

'Shriram City Union Finance Ltd., the consumer finance arm of the group. Within a

short span of 2 years, we have managed a portfolio of over Rs.584 crore.

Our monthly business amounts to over Rs.25 crore in individual loans, ranging from

as little as Rs.8,000 to Rs.1,00,000, and with tenures ranging from 12 months to 36

months.

Since its inception, we have financed over 2,15,000 white goods and two-wheelers,
with over 90% of the business arising out of the non-metro markets.

This financing is backed by lines of credit extended by ICICI Bank, UTI Bank and

Development Credit

THE GROUP COMPANIES ATHAT CATER TO TRUCK FINANCING

NEEDS A DIFFERENT PARTS OF THE COUNTRY ARE

Shriram Investments Limited in the South Shriram Transport Finance Company

Limited in the West Shriram Overseas Finance Limited in Northern/Eastern regions

in India.

OUR EQUITY PARTNERS

Citicorp financial services Ltd. An arm citigroup has taken 14.9% equity stake in

Shriram investments Limited and Shriram Transport Financial Company Limited in

2002.

FMO the Dutch Government owned financial services company has recently picked

up equity stake in SIL and STFC. The company has extended a long term debt of 6

million Euros each to the two companies.

Reliance Capital has also taken an equity stake in the two companies at a premium.
AN OVERVIEW OF THE SHRIRAM GROUP TRUCK FINANCING

BUSINESS IN INDIA

AREA OF OPERATION ALL INDIA

Branch offices 260

Employees 4000

Depositors 12.20 lakhs

Agency Force 15,000 plus resident representatives 1300.

Funds managed Rs. 6000 crores

Net worth Rs. 349 crores

Major exchanges including the BSE and

Stock Listing
the NSE.

2. CONSUMER FINANCE:-

We entered the consumer Durable Finance Business business in early 2002.

through Shriram City Union Finance Ltd. The consumer arm of the group. Within a

short span o 2 years, we have managed a profile of over rest 684 crores in this

business.

Our monthly business amounts to over Rs. 25 crores in individual loans,

ranging from as little as Rs.8000 to Rs. 100000 and with tenures ranging from 12

months to 36 months.

Since its inception we have financed over 215000 white goods and two

wheelers with over 90% of the business arising out of the non metro markets.
 This financing is backed by lines of credit extended by

ICICI Band, UTI Bank and Development Credit.

3.CHIT FUNDS:-

Shriram chits – prosperity

Shriram chits is the largest chits fund in the country. We have grown to become a

trusted household investment option. The growth registered by Shriram Chits recent

years not only indicated the usefulness of this savings instrument, but is also a

reflection our customers trust in.

Chits one of the earliest investment instrument known to man, were founded by the

enlightened communities of India. These have, ever since, worked to the advantages

of communities that are batting scarce capital resource.

Shriram chits started its operations in the year 1974 with a single branch that has

quickly grown into trusted household name for making chits a viable form of saving

and borrowing to all sections of the social.

Shriram chits operates in four states. Tamil Nadu, Andhra Pradesh, karnataka and

Maharastra, where has a reputation for timely disbursement of funds and excellent

customer services which differen tiates it from other companies.

Using state of the art computer systems/networks and a transparent accounting

system, Shriram Chits have transformed this contemporary mehod of savings into an

attractive personalised to banking system.

4.GENERAL INSURANCE:-

Shriram group has adopted a two strategy in this segment.

1. Broking arm – Armour Consultants – floated in year 2002

2. Retail Marketing Arm: Ski Marketing flotred in year 2001.

ARMUR CONSULTANTS PRIVATE LIMITED : INSURANCE EXPERTS AT

YOUR SERVICE

Amour consultant is engaged in insurance broking in corporate insurance markets and

has already aggregated business volumes in excess of Rs. 200 crores ($ 44 million) in

premiums.

Amour consultant comprises a team of distinguished professionals from insurance,

finance, law and other management discipline, who have vast business and

managerial experience. The company has handled major claims for renowned clients.

There have been several claim cases that were won even in the arbitration stage.

The tern at Armun Consultants begins with an in depth evaluation of the

client company’s business environment. The company’ risk profile is then studied.

Based on the results of these evaluations. The team then suggests the most cist

effective, integrated insurance package that is perfectly suited to the company’s risk

profile.

The company plans to extend its customer base of the existing 500000 policy holders

to cross the 1 million mark by the end of financial year 2005-06.

5.LIFE INSURANCE:-

The shriram group plans to enter the life insurance segment 05. Am application has

already been filed with the IRDA for the same. We are also exploring the possibilities

of collaborating with a foreign partner in this venture. We expect to be a major player

in this very fast growing sector, as a natural corollary of business philosophy and

expertise.

6.STOCK BROKING:-

Our stock broking arm operates under the insight share Brokers Pvt. Ltd. It is a

member of the National Stock Exchange , India and the Multi Commodity Exchange.

This unit has expended the network by 150% over the last year and today it has more

than 230 terminals spread across the length and breadth of the country.

It has a retail customer base of around 50000. The company launched its new

products like Derivatives and commodity Trading in early 2004.

A QUICK LOOK AT SOME OF THE SALIENT FEATURES

 Limits of all clients are fixed at a pre-calculated level.

 This is benefical to them in the long run as it prevents overtrading.

 Atimely payments and direct share transfer facility from NSE.

 Adequate risk control research support.

 The clincher. Proactivate and preventive risk control.

 ORGANISATION CHART

BOARD OF DIRECORS

SHIRAM TRANSPORT FINANCE COMPANY LIMITED

R Sridhar Managing Director

S. Venkatakrishnan Executive Director

Umesh G Revankar Executive Director

K.R.C Sekhar Director

S. Ranganathan Nominee of Citicorp Finance (India) Ltd.

Dr. T S Sethurathnam Nominee of IREDA ltd.

K. Prakash Company Secretary & Compliance Officer

VISION AND MISSION
OF THE
ORGANIZATION
 VISION, MISSION AND VALUES

Helping create wealth, Empowering people through prosperity, Putting people

first.

The Shriram Group set out with the objective of reaching out to the common

man with a host of products and services that would be helpful to him in his path to

prosperity. Over the decades, the Group has achieved significant success in

executing this objective and has created a tremendous sense of loyalty amongst its

customers.

Efficiency in operations, integrity and a strong focus on catering to the needs

of the common man, by offering him high quality and cost-effective products &

services, are the values driving the organization. These core values are deep-rooted

within the organization and have been strongly adhered to over the decades.

The group prides itself on its perfect understanding of the customer. Each product or

service is tailor-made to perfectly suit the needs of the customer. It is this guiding

philosophy of putting people first that has brought the Group closer to the grassroots

and has made it the preferred choice for all financing requirements amongst the

customers.
 CONCEPTUAL FRAMEWORK

In this study, it is assumed that the process model is ideal. Therefore, our goal is not

to provide amethod to improve the process model, but to provide the best solution by

presenting a new framework as a complement to the critical moments of the process

in operational mode. For a better understanding of Figure 5, a graphical representation

of the operation stages of the proposed framework is shown that actually derived from

paper (Delen & Demirkan, 2013).

Proposed framework

The proposed framework in this study can be described as follows:

Extraction of information from the source of Event Logs of the business process and

turning these process data into necessary information such as the amount of service

demand or the goods by customers, Or the amount of response to demands or non-

fulfillment, customer satisfaction with the product or service provided, etc., in

different days or intervals.

Analyze and accurately review reports and information from the first stage by one or

more analytics and identify unusual and abnormal points and times. At this stage, the

implicit information contained in the sales charts and the analytical reports like

abnormal points in the graphs are reviewed and archived and stored in a knowledge-

based database. Unusual points from graphs and charts, taking into account the

parameters of time, place, climate, human and social events, unexpected events, etc.,

are detected, identified and evaluated accurately so that the causes and reasons for

them can be obtained. The main objective of this phase is to analyze information and

business process historical records to determine the external and environmental

reasons influencing the efficiency and effectiveness of the process as well as total

income.

As illustrated in Figure 6, in details the system is made up of two parts:

 Analyst and Computational Section of the proposed system (Analyzer):

 Receive and review information on sales and services for the past days in the

form of reports,

 charts, tables from the business process management system

 Measuring and estimating the average sales and service rates on similar days

in the past from

 step one’s information through analytical auxiliary programs

 Detecting abnormal days in sales and services (abnormal day is a day that the

difference in

 sales and service is significant with the other days)

  Extracting the features of each of the abnormal days such as weather, holidays,

social events or festivals in such events as Black Friday, etc., and measure the

impact of external factors.

 Save this information as an empirical knowledge-base and manage it.

Listener section of the proposed system:

 Receive accurate and real-time information from trusted and reliable resources

such as the Meteorological Organization website about the typical or special

features of the coming days.

 The classification of external factors affecting the sales and service of the

coming days according to the output of the analyzer section.

WORK PROFILE
 WORK PROFILE

INTRODUCTION ABOUT INTERNSHIP

The internship report is based on the topic “Customer perception towards SHRIRAM

LIFE Standard Life Insurance” with reference to SHRIRAM LIFE Standard Life

Insurance Company Ltd. For a period of 12 weeks, it was a great experience to

develop my skills and knowledge, as well as build confidence before we are exposed

to the external environment opportunities and challenges.

If we pursue career related opportunities prior to graduation, we may have an edge

over other candidates in competitive job market.

This study is primarily conducted to analyze the consumer perception towards

SHRIRAM LIFE Standard Life Insurance.

TOPIC CHOOSEN FOR THE STUDY

PROJECT TITLE- BUSINESS DEPLOYMENT

What is the difference between Marketing and Business Development?

Marketing’s focus is on your consumer, their journey from awareness to loyalty, and

the strategies and tactics that are employed to reach that loyalty stage.

Business development, however, focuses on the processes and tasks that will grow

revenue opportunities.
Role of Marketing

Marketing is all about your target audience: understanding who they are, what they

want, and how you can communicate with them that your product or service has what

they are looking for.

The role of marketing is to identify consumers who need the product or service that

their company offers. From there, strategic marketing efforts will continue to

communicate with those customers, building a relationship via sophisticated

marketing plans that will eventually lead to the consumer buying the product or

service.

Members of the marketing department will often report to the CMO, or Chief

Marketing Officer, to ensure that their activities are aiding in overall business

development.

Role of Business Development

The business development process focuses on business growth.

There may be debate about what business development is exactly but let’s use the

definition of it being generating new business.

Someone who works in business development will participate in the activities, ideas,

and initiatives that will improve the business.

Business development is responsible for the growth of the business, increasing

revenue, and boosting the profitability of strategic decisions.

A few key areas involved in business development include:

 Sales growth

 Business expansion

 Attend trade shows

 Strategic business partnerships

 Overall business profitability

 Evaluation of competitor developments

 New opportunities in the market or new markets

A business development manager will report to the CMO or business owner to ensure

their strategy and objectives align with overall company goals.

How are they different?

Marketing and business development are different due to the functions they perform

and their responsibilities.

From a high-level view, business development focuses on business relationships and

strategic partnerships. Marketing focuses on communication and consumer targeting.

Sales reps work on prospecting qualified leads and closing the deals that the two

teams have brought to the table. The CMO oversees the three branches to ensure they

are working tangentially to achieve top-level business objectives.

Let’s break that down further.

Often, you have your sales department, which works to overcome market obstacles in

order to create consumer sales.

The marketing department has its thumb on the market’s pulse, helping to align its

messaging to ensure the company is in the right place for customers to find them.

Business development lies in the center of those departments. They build upon the

foundation marketing has laid, creating the pathways a customer needs in order to

reach sales and, ultimately, conversion. A business development manager may use

sales and marketing collateral to achieve their goals.

Business development means many different things (significantly depending on the

industry that your company operates within.) However, its primary function is to

ensure that the marketing team’s consumers make their way to the sales department.

Here are a few key takeaways:

Sales find new customers, as well as increase current customer value. The sales team

are the closers

Marketing identifies who the customer is. They develop and manage communication

that is focused on reaching potential customers and setting them on the path towards a

sale. The marketing team is the welcome wagon

Business Development builds, improves, and leverages relationships and

opportunities that facilitate revenue opportunities. They are the bridge from “hello!”

to “sold!”
Every department is focused on the business’ overall growth.

To ensure that each department’s strategy aligns with company objectives, the CMO

will advise the departments, helping to guide them in a direction that aid the efforts of

one department in benefitting the other.

Business Development Team - CMO Expontential

What is the difference between a Marketing Manager and a Business Development

Manager?

Let’s look at the job descriptions for the two positions to understand the difference

between a marketing manager vs. a business development manager. They are different

career paths and are different roles, but have some overlap, especially regarding their

responsibilities.

Marketing Managers

A standard job description on Glassdoor will detail what the company is looking for

in a marketing manager. One job overview states:

“We are looking for an experienced Marketing Manager to develop and manage

marketing programs in specific channels, support business objectives, lead

acquisition, foster customer retention, execute business development, provide sales

support, and advance brand building.”

The responsibilities of a marketing manager will range from segmenting market

demographics to evaluating consumer engagement insights. They will manage

communication on various platforms and channels, recommending adjustments to

marketing tactics.
A marketing manager needs to have experience evaluating marketing programs and

creating reports on those results. They often need experience with marketing

platforms like HubSpot, Marketo, Salesforce, or other marketing software.

A marketing manager needs to demonstrate project management skills, as well as

have the ability to problem-solve and analyze metrics. They may be required to hold a

BS or BA, MBA, or other degree or certification in marketing, communications, or a

related field.

The marketing manager reports to either the head of marketing or the CMO.

Business Development Managers

Job descriptions for business development managers may not have as many concrete

details as their marketing counterparts.

A business development manager job overview may look similar to this Workable

description:

“[The Business Development Manager] will be the front of the company and will

have the dedication to create and apply an effective sales strategy. The goal is to drive

sustainable financial growth through boosting sales and forging strong relationships

with clients.”

The Biz Dev manager is responsible for growth strategies. They need to be able to

conduct market research and build relationships with customers. A Biz Dev manager

may need to arrange and conduct business meetings with current or prospective

clients.
Requirements for a business development manager position will include a profitable

sales record, robust customer support skills, and above-average communication skills.

A Biz Dev manager will need to utilize above-average planning, organization, and

time management skills.

The business development manager may need to hold a BS or BA degree or

certification in sales or a related field. Higher levels of education may be required in

some industries.

The business development manager may directly report to a Vice President of

Marketing, Sales, or even to the Chief Marketing Officer.

How do Marketing and Business Development work together?

The marketing department and business development department may be two distinct

business areas, but their shared goals can lead to a slam dunk when it comes to

winning over potential consumers.

When the two departments work together, they can create a cohesive strategy that

both teams can retain benefits. Those benefits will range from consistent brand

messaging, improved lead outcomes, and more reliable lead tracking.

Marketing works as the primary company influence, creating contact with customers.

Business developers can lean on the marketing team, and their efforts for consistent

brand messaging, help differentiating strategy, and overall marketing positioning.

Biz Dev and Marketing: A perfect match

Gone are the days where your business could send messages into the ether, and

consumers will come running. Lots of businesses will get results from using cold
outreach on Linkedin and follow up in a traditional sales process that results in

sending the prospect to a webinar.

A business must now use a more comprehensive business model, such as HubSpot’s

Flywheel, to ensure the entire company is aligned and working towards an

exceptional customer experience.

The traditional marketing funnel is no longer sufficient. Consider this: 81 percent of

buyers trust a peer’s recommendation more than a company’s advice regarding

purchasing decisions. A consumer will ask their social network, review social media,

and read online suggestions to help inform their buying decision. The linear sales or

marketing funnel doesn’t account for the momentum you can create through a better

customer experience, nor the friction that an inefficient business process may create.

The Flywheel Method works by ensuring consistent customer happiness. The wheel is

powered by the momentum your happy customers create: they drive referrals, repeat

sales, and keep your wheel spinning.

The wheel’s momentum is dependant on how fast your company spins it, the amount

of friction placed on it, and its overall size.

Your wheel will increase in speed when you add more force in high-impact areas,

such as customer service, inbound marketing, social media messaging, or a loyalty

program.

To ensure your wheel keeps spinning, you need to reduce the amount of friction that

is influencing its rotation. A flawed conversion process, broken internal and cross-

team communication, and misaligned brand messages are all friction points that may

slow down your flywheel and create hiccups in your business strategy.
The bigger your flywheel needs to be to support your business and consumer base, the

more you will need to invest in the factors that aid in its momentum and decrease your

business strategy friction points.

Is Business Development better than Marketing?

One department is not better than the other. In fact, the two departments work better

when they work in conjunction to achieve your organization’s goals.

In fact, business development is not better than marketing, as it often cannot succeed

without input and aid from the marketing department. Uncoordinated biz dev, sales,

and marketing departments may face challenges to improving and optimizing ROI.

A business development department that does not work with marketing to create

awareness for the brand and a consistent brand message may be trudging an uphill

battle to secure in-person meetings and nurture their prospects. They may even miss

more opportunities than a company whose teams are united.

Often, the CMO will oversee both departments to ensure the efforts of each

department support the other.

The CMO facilitates from the beginning, ensuring consistent communication during

the planning and strategy development stage. Business developers support the

marketing department by creating business goals, developing an ideal client, and

informing the marketing team of upcoming ventures. Marketing supports the business

department by helping reach out to potential consumers, creating consistent brand

messaging, and providing marketing analysis that can better support Biz Dev’s

relationship building.
Other areas of support could include:

 Physical and digital content

 Graphic resources

 Proven strategies or tactics to engage customers

 Consistent and engaging communication

 Hosting events or meetings

 Improving client feedback

The key takeaway should be that the two teams are intertwined. Rather than a

marketing vs. business development mindset, we should focus on how each team has

skills and assets that complement the other’s efforts.

KEY LEARNING
 KEY LEARNING

1. Communication & negotiation skills

In the insurance profession you will work with a wide range of people; from finance

professionals to those with limited or no finance knowledge. Therefore, one of the

most valuable skills you can possess and develop is the ability to adapt your

communication style accordingly so that you can successfully explain complex,

sometimes technical information to a variety of audiences.

Recruiters will assess your communication style through your application and will be

looking for evidence that you can correspond accurately and effectively with clear

structure.

2. Problem solving & analytical abilities

Most employers will measure your problem-solving skills by analysing how you

approach a case study or activities organised at assessment centres. Have examples

prepared for any interviews which demonstrate your understanding of a challenge

you’ve faced, how you prioritised and worked through the solution, if you sought help

or approval and what the outcome of the situation was. It is helpful to explain your

thought processes and show logical analysis when answering questions like this to

give interviewers insight into how you think and what you might be like to work with.

3. Customer service & client relationships

Working in insurance you will need to understand the company’s clients, their needs

and how to make sure the company delivers on these needs as best they can. Having
the ability to build and maintain professional relationships is essential for retaining

business and will make you a valuable asset to any company. Recruiters will take into

account how you interact with your assessors, other candidates at the assessment

centre and the rapport you are able to build with your interviewers. If you have had

experience that required you understood and dealt with the needs of others, use these

as examples during interviews. You can draw on volunteering experience, part-time

jobs, involvement in a university society or student union – anything that shows your

ability to interact with others in a formal capacity.

4. Numerical ability

Although it is not necessary to have studied a numerical degree to work in the

insurance sector, some numerical ability is essential for most roles. Numeracy skills

mean being able to understand and work with numerical and graphical information,

draw conclusions and effectively explain your findings.

5. Teamwork

Your ability to work as part of a team will be tested and evaluated during group

exercises at the assessment centre. To make a positive, lasting impression,

constructively contribute to discussions and activities while listening to your peers

and encouraging them to do the same. Teamwork is all about being able to operate

smoothly and efficiently within a group. Ask yourself – are you able to compromise?

Do you have the ability to communicate clearly? Can you negotiate with, influence

and advise your team?

It is important to remember that different employers are looking for different things;

insurance is an extremely diverse sector and one size does not fit all. Before you

apply, research the different companies, read their websites and speak to their

representatives at careers fairs. Get a feel for the companies that are out there so that

you can apply to the employer that’s right for you.

FEASIBLE SOLUTIONS
 FEASIBLE SOLUTIONS

 Improve the strategies: The study is beneficial to the company in improving

the current strategies for the assigned products.

 Increase the number of consumers: During the internship I have conducted

many shop meets along with my TSO to the masons and contractors. This has

created awareness to them about the products.

 New approach to the market: The study results can be utilized for fresh and

new approach to the market.

OBJECTIVE OF THE STUDY
 OBJECTIVE OF THE STUDY

 To maintain Social media interactions with customers.

 To know about the investors potentiality in insurance sector.

 To give suggestions to the company.

 To analyse the customers buying behavior.

 To determine the customers attitude towards SHRIRAM LIFE Standard Life

brand.
LIMITATIONS OF STUDY
 LIMITATIONS OF STUDY

Through the present research has target to achieve the above mentioned objectives in

realistic and accuracy, it may be impossible due to certain limitations. Some of the

limitations of the research are as follows

 The research is conducted to a certain parts of LUCKNOW and does not

necessarily shows a result applicable to all of Country .A minimum number of

150 also does not show the pattern of the whole city.

 The researcher who conducts the research is not professional so there might be

some errors. Collecting accurate responses from the respondents is impossible

due to the inherent problems, they may reject to cooperate.

 Sample size is small due to less period allocated for the survey

 This research is costly and tedious.

RESEARCH METHODOLOGY
 RESEARCH METHODOLOGY

TITLE JUSTIFICATION:

The above title is self explanatory. The research deals mainly with know the buying

pattern in the insurance sector with a special focus on SHRIRAM LIFE Standard Life

Insurance. The different segment of the markets divided in terms of Insurance needs,

age groups, customers satisfaction levels etc will also studied.

SIGNIFICANCE TO THE INDUSTRY:

This is a study which is limited takes into consideration the responses of only 150

respondents. This data can be explorated to take in the trends across the insurance

industry. The importance for the industry lies in analysing these trends that emerge

from the study. It is a changing and growing sector. customers are only beginning to

wake up to it’s vast possibilities. A study like this can use to guide the future of the

industry based on current trends.

SIGNIFICANE FOR THE RESEARCHER:

To study and collect all the useful information of the company, the insurance industry

also facilitates marketing ways and methods of SHRIRAM LIFE standard life

insurance.

METHODOLOGY ADOPTED

A. Sampling Technique:

The Sampling was prepared keeping in mind the objectives of the research. A

research study was done in order to know the accuracy of the questionnaire. The final
questionnaire was conducted only after some key changes were done. Thus the

sampling came out to be convenient and accurately.

B. Sampling Unit:

Asked to respondents to fill out questionnaires are the sampling units. These includes

of private employees , Government Employees, Self Employees ect.

C. Sample size:

The sample size was restricted to only 150, which includes of mainly peoples from

different regions of Lucknow due to limited time.

D. Sampling Area: The area of the research was Lucknow.

SOURCE OF DATA

When the marketing problems are identified and after the completion of pre-research

analysis, the relevant information must be collected. There are two sources of

information or data collection:

A. PRIMARY DATA

It is the data which is never collected before. Data collected directly from first-hand

experience. Its advantage is that it suits to the purpose this information is specific,

relevant, and up-to-date. In this study the primary data was collected among the

customers using questionnaire.

B. SECONDARY DATA

It is data collected by someone other than the user. Common source of secondary

data collected from company websites, magazines and brochures.

 DATA ANALYSIS

AND

INTERPRETATIONS
 DATA ANALYSIS AND INTERPRETATIONS

TABLE-1

DATA GIVES EMPLOYMENT STATUS OF THE RESPONDENTS.

EMPLOYMENT NO.OF RESPONDENTS SHARE (%)

YES 138 92
NO 12 8
TOTAL 150 100

ANALYSIS:

 The table showing 92% of the respondents are employed

 8% of the respondents are unemployed

140

120

100 NO OF RESPONDENTS
PERCENTAGE

40
80

20
60
YES
NO
0

INTERPRETATION:

 The graph shows that the maximum of respondents are employed which

would be thebetter picture of the marker scenario.

 TABLE-2

 DATA SHOWING AGE GROUP OF RESPONDENTS

AGE GROUP NO.OF RESPONDENTS SHARE (%)

20-25 5 3.33
26-35 106 70.66
36-45 33 22
45< 6 4
TOTAL 150 100

ANALYSIS:

 The Table showing 3.33% of respondents comes under the 20-25 age group,

 70.66% of the respondents are in between 26-35 age group,

 22% of respondents comes under 36-45 age group.

 4% of respondents are above 45 age group.

 120

100

80 NO.OF RESPONDENTS

PERCENTAGE

60
20

PERCENTAGE
400 20-25 NO.OF RESPONDENTS
26-35
36-45
45>

INTERPRETATION:

 The graph indicates most of the respondents from 26-45 age group people which

as70.66% of in age group of 26-35 and 22% of people in the age group of 36-45
 TABLE- 3

 DATA SHOWING THE ELEMENTS ROLE IN DRIVING CUSTOMER

PERCEPTION

ELEMENTS NO.OF RESPONDENTS SHARE (%)

Previous experience of 57 38
customers
Current experience 26 17.33
How customers are handled 34 22.66
by frontline staff
Expectations from the 22 14.66
company/brand
Type of marketing and 11 7.33
advertising
TOTAL 150 100

ANALYSIS:

 The table showing the 38% of the respondents feel previous experience of

customers,driving customer perception,

 following 17.33% of the respondents chosen current experience is driving

customerperception

 22.66% of the respondents feel how customers are handled by frontline

staff and14.66% of respondents select expectations from the company

 Remaining 7.33% of the respondents thinking type of marketing and

advertising alsodriving customer perception.

 60

50

40

30

20

10
NO.OF RESPONDENTS
0
PERCENTAGE

INTERPRETATION:

 The most of respondents feels that previous experience of the customer is the

keyelement role in driving customer perception towards the company.

 TABLE-4

 DATA SHOWING RESPONDENTS PREFERENCE OF RECOMMEND

SHRIRAM LIFESTANDARD LIFE INSURANCE TO OTHERS

RESPONSE NO.OF RESPONDENTS SHARE (%)

YES 119 79.33
NO 28 18.66
NO COMMENTS 3 2
TOTAL 150 100

ANALYSIS:

 The table showing 79.33% of respondents have positive attitude towards SHRIRAM

LIFE Standard Life that they willingness to recommend SHRIRAM LIFE Standard

Life Insurance to others.

 18.66% of respondents have not going to recommend SHRIRAM LIFE Standard

Life.

 2% of the respondents no commented about this.

 140

120

100

80
NO.OF RESPONDENTS

60 PERCENTAGE

40

20

0
YES NO NO COMMENTS

INTERPRETATION:

 Here we came to know that most of the respondents having possitive attitude

towards SHRIRAM LIFE standard life insurance, because 79.33% of respondents

prefer to recommend SHRIRAM LIFE standard life insurance to others.

 TABLE- 5

 DATA SHOWING HOW STRONGLY THE PRODUCT IMPROVEMENTS

WILL BE APPARENT TO A CUSTOMER

RESPONSE NO.OF RESPONDENTS SHARE (%)

VERY STRONGLY 88 58.66

STRONGLY 47 31.33

NEUTRAL 3 2

NOT STRONGLY 8 5.33

NOT VERY STRONGLY 4 2.66

TOTAL 150 100

ANALYSIS:

 The data providing 58.66% of respondents are very strongly believe that

product improvements will be apparent to a customer 31.33% of respondents are

strongly believing only 2% of the respondents having neutral opinion and 5.33% of

the respondents arenot strongly ,2.66% of respondents are not very strongly.
 90

80

70

60

50

40 NO.OF RESPONDENTS

30 PERCENTAGE

20

10 VERY
NEUTRAL
0 STRONGLY STRONGLY NOT
NOT VERY
STRONGLY
STRONGLY

INTERPRETATION:

 We can understand, the maximum of customers are believing that product

improvements will be apparent to a customer, because more than 58% of the

respondents believing very strongly.

 TABLE-6

 DATA SHOWING HOW STRONGLY THE IMPACT OF CUSTOMER

PERCEPTION WHEN THERE IS AN NEGATIVE CHANGES IN AN

ORGANIZATION’S MARKETING POLICIES

RESPONSE NO.OF RESPONDENTS SHARE (%)

VERY STRONGLY 109 72.66

STRONGLY 33 22

NEUTRAL 6 4

NOT STRONGLY 2 1.33

NOT VERY STRONGLY 0 0

TOTAL 150 100

ANALYSIS:

 Table indicates that 72.66% of the respondents very strongly believe,

 22% of respondents strongly believe,

 4% of the respondents in neutrally responded,

 1.33% of the respondents are not strongly believe that the impact of customer

perception when there is an negative changes in an organization’s marketing policies.

120

100

80 NO.OF RESPONDENTS

PERCENTAGE
20
60
0
PERCENTAGE
VERY
NO.OF RESPONDENTS
40 STRONGLY NEUTRAL
STRONGLY NOT
NOT VERY
STRONGLY
STRONGLY

INTERPRETATION:

 It showing the majority of 72.66% of respondents believe very strongly, from this we

can understand the customer perception really impacts when there is an negative

changes in an organization’s marketing policies.

 TABLE-7

 DATA GIVES THE %OF SAVINGS PEOPLE WOULD LIKE TO

INVEST INLIFE INSURANCE POLICY ANNUALLY

INVESTMENTS NO.OF RESPONDENTS SHARE (%)

UP TO 20% 118 78.66

21% -30% 32 21.33

More than 30% 00 00

TOTAL 150 100

ANALYSIS:

 The table showing 78.66% of people would like to invest their income up to 20%

inlife insurance policy annually

 21.33% of respondents like to invest their income in between 21%-30%.

 120

100

80

60
NO.OF RESPONDENTS

PERCENTAGE
40

20

UP TO 20%
21%-30%
MORE THAN 30%

INTERPRETATION:

 Most of the customers would like to invest up to 20% and keep the substantial part

ofthe income for their livelihood.

 No one of the respondents like to invest more than 30% of their income into the

lifeinsurance policy.
 TABLE-8

 DATA PROVIDES THE TYPE OF POLICY PEOPLE HAVE

TAKEN FROMSHRIRAM LIFE STANDARD LIFE INSURANCE

TYPE OF POLICY NO.OF RESPONDENTS SHARE (%)

Pension plan 40 26.66

Children plan 21 14

Investment plan 17 11.33

Protection plan 15 10

Unit linked plan 52 34.66

Others 5 3.33

TOTAL 150 100

ANALYSIS:

 Table showing 26.66% of respondents are taken pension plan,

 14% of respondents are taken children plan,

 11.33% from investment plan,10% from protection plan.

 34.66% of responded as unit linked plan and 3.33% are in other plans.
 60

50

40

30 NO.OF RESPONDENTS

PERCENTAGE

200
PERCENTAGE

NO.OF RESPONDENTS
10

INTERPRETATION:

 According to the data, unit linked plan has captured the preference of

the customerscompared to traditional plans

 TABLE-9

 DATA SHOWING ANNUAL INCOME OF RESPONDENTS

ANNUAL INCOME NO.OF RESPONDENTS SHARE (%)

>3L 78 52

3L-5L 42 28

5L-10L 20 13.33

10L 10 6.66

TOTAL 150 100

ANALYSIS:

 The table indicates 52% of respondents having below 3lack annual income,

 28% of respondents in between 3L-5L,

 13.33% of respondents fall in 5L-10L slot,

 6.66% of respondents having above 10L income.

 78
80

70

60 42
40
INCOME

PERCENTAGE
50
30
20
20
10

10
0 >3 LAKCS
3-5 LACS
5-10 LACS
10-15 LACS

INTERPRETATION:

 It can be noted that majority of respondents (52%) fall in the category of > 3 lacks

slot

.
 TABLE-10

 DATA SHOWS PEOPLE HAVING INSURANCE

RESPONSE NO.OF RESPONDENTS SHARE (%)

YES 103 68.66

NO 47 31.33

TOTAL 150 100

ANALYSIS:

 In the sample size of 150 surveyed respondents 68.66% of the respondents are

havingInsurance policy.

 31.33% of the respondents are either not having any Insurance policy at present

ortheir policy is already matured.

120

100

RESPONDENTS

80 PERCENTAGE
40

PERCENTAGE
60
200
RESPONDENTS
YES
NO

INTERPRETATION:

At present 100% of the respondents are with the view that Insurance

is a tool toprotect your family.

FINDINGS
 FINDINGS

1. As the people think that insurance is a tool to protect their family & a tax saving

device. They are aware of the fact & realizing its, importance. The company

should try to expand & build up its infrastructure because there is a large potential

for insurance in India.

2. Company should come up with more branches in Lucknow with the objective and

goals to meet the demands & expectations of the public. Because the entrance of

private players will increase the competition and it would be a tough task to

secure a good position in market.

3. Since SHRIRAM LIFE STANDARD LIFE INSURANCE LTD is leading with

several companies’ policies it should be easy for them to penetrate into the market

and secure a good position if they pay greater attention to the service part

provided to their customer and thereby forming a long and trusted relationship.

4. As seen from the survey that at present 70% of the customer are having insurance

policy out of which 87.5% of the customer are planning for new investments. So

it can be a good potential for the company and they should make an attempt to

trap these customers.

5. 43% of the customers is even ready to go for insurance if a service provider away

from their home is providing it. But intend they should provide good products and

services. The company should try to convince these customers and get them in its

favor.
SUGGESTIONS
 SUGGESTIONS

 To make customers know about the SHRIRAM LIFE Standard Life Insurance

products and policies by carried out the promotional activities.

 Ex: printed media , Hoardings & banners , advertisements in telivisions and

websites

 SHRIRAM LIFE should start more branches in Lucknow with specific targets

and goals to fulfill the demand and needs of the customers.

 SHRIRAM LIFE Standard Life Insurance Company Ltd is dealing with

several companies’ policies it should easy for the company to penetrate into

the market and increase the more number of branches and diversify their

market to various other regions.

 70% of customers are having the insurance policy and 87.5% of the customers

are interested for new investments. So it is a good opportunity to grab this

market share.

 Company should try to capture the customers that who are 43% of customers

ready to go for insurance if service provider away from their home is

providing
CONCLUSION
 CONCLUSION

Our research in the field of Life Insurance threw up some intresting trends which can

be seen in the above analysis. A common information that we collected during data

collection was the immense experience and knowledge among people about different

companies and their insurance policies and products. People are willing to choose

beyond LIC for their insurance needs and willing to trust private players with their

hard earned money.

The customers have been impressed by the marketing and advertising campaigns of

insurance companies. A high advertisements of print, radio and Televisions ad

campaigns over the years is beginning to have its impact now

The another fact is that people believing insurance as a tax saving and investment tool

as much as a protective one.

The common satisfaction levels among public with regards to policy and agents

requires developments. LIC has never been known for trusted service or customer

oriented methods and SHRIRAM LIFE Standard Life Insurance can build on these

factors.
 BIBLIOGRAPHY

REFERENCE ARTICLES

YADAV*, M. B., & TIWARI, D. A. (July 2012,). International Journal of Marketing,

Financial Services & Management Research. A STUDY ON FACTORS

AFFECTING CUSTOMERS INVESTMENT TOWARDS LIFE INSURANCE

POLICIES , Vol.1 Issue 7,.

REFERENCE BOOKS

 Consumer Behavior – Leon G.Shaiffman and Lesig Lazer Kanuk,8th Edition,

year 2004

 Marketing Management- Philip Kotler, 13th Edition , year 2009.

 Marketing Research- Donald. S Tull and Del I. Hawkins,6th Edition year 1992

WEBSITES:

 www.google.com

 www.Shriram Lifelife.com

 www.irda.gov.in

 www.slideshare.net
ANNAXTURE
 QUESTIONNAIRE

RESPONDENTS NAME:-

AGE:-

1. Are You Employed?

Yes { } No { }

2. Your Monthly Income?

Below 3 Lack { } B) 3L-5L { } C) 5L-10L { } D) Above 10L { }

3. Do You Have Any Insurance Policy?

Yes { } No { }

4. Which Insurance Policy Do You Have?

Life { } Non-Life { } Both { }

5. What is your Purpose Of Taking An Insurance Cover?

A) Cover Future Uncertainity { } B) Tax Deductions { }

C) Future Investment { } D) Any Other { }

6. What Factors Affect Your Policy Buying Decision?

A) Low Premium { } B) Larger Risk Coverance { }

C) Money Back Guarantee { } D) Reputation of Company { }

E) Easy Access To Agent { } F) Any Other { }

7. Do You Prefer Private Insurance Companies Over Government

Companies?

A) Yes { } B) No { }

8. Which Co’s Insurance Policy You Prefer The Most?

B) LIC { } B) ICICI Prudential { }

C) SBI Life Insurance { } D) ING VYSYA Life { }

E) SHRIRAM LIFE Life Insurance { } F) TATA AIG Life { }

G) Any Other { }

9. What Is Your Reason For Preference Of An Insurance Policy?

A) Easy Accessability { } B) More Security { }

C) Better Security { } D) More Information & Help { }

E) Customer Orientation { }

10. Your Insurance Plan Insures You For How Many Year

(A) below 5yrs{ } B) 5-10 Yrs{ }C) 10-15 Yrs{ } D) above 15yrs{ }