Professional Documents
Culture Documents
chintu
chintu
Project Report
(4th semester internship report 29th April 2022to 21st July 2022)
AT
Submitted by
Abhishek Kumar
Faculty of management
DECLARATION
I declare,
That the work presented for assessment in this internship report is my own, that it has not
previously been presented for another assessment and that my debts (for word, data,
arguments and ideas) have been appropriately acknowledged.
That the work conforms to the guidelines for presentation and style set out in the relevant
documentation.
20MBAN007
MBA 2020-22
ACKNOWLEDGEMENT
I, Abhishek Kumar, hereby express my gratitude for the tremendous support and enthusiasm
that I received throughout the course of this project. I would like to acknowledge the
guidance of Prof. Dr. Ram Garg,Assistant professor, Management Department at JECRC
University, Jaipur. I thank them for enriching our experience with this opportunity.
I feel blessed to have garnered great insights into the field of Finance with the very
distinguished team atShriram General Insurance Co Ltd. I would like to thank Mr. J.S
GujralDirector for bestowing the opportunity to learn and deliver on my skills. For
exemplary learning environment; I thank Mr.Amlesh Kumar Singh Branch In charge at
Chhapra Branch. Also, I thank Miss. Madhulika Sharma, HR Executive. This internship
journey would not have been a smooth sail had it notbeenfortheinspiringteamatShriram
General Insurance Co. Ltd. Theirsteadfastsupportandbeliefencouraged me to take up
challenges. Their expertise has moulded a learning curve for me to focus and follow in future
competitive businessenvironments.
I end with acknowledging my indebtedness to my Family for their blessings and unwavering
trust that has prepared me for the challenges ahead.
Table of Content
1 Executive summary 7
2 Introduction 8-9
3 Company Profile 10
7 Finding 22
8 Conclusion 23
9 Bibliography 24
10 Annexure 25-26
Executive Summary
This report summarizes my internship program from April 2022 to July 2022 covering 3
month on going internship. I had magnificently concluded the placement in Finance,
Shriram General Insurance Co. Ltd. as a requirement of Masters in Business
Administration (MBA) degree program, Department of Finance. I engaged with practical
oriented and corporate world atmosphere that during this time I earned different sides of
experiences. Though I hope the internship skills are vital for my career path. Principally I
attached finance branch of Shriram General Insurance Co. Ltd.
These initiatives are in the form of benefits, policies, or programmes that help create a better
balance between the work and non-work domain. For the deep inclination into the
management concepts practical work is an important aspect. Theoretical knowledge gives us
the fundamental concepts of management and practical work teaches us management tact and
skills, which are successfully employed to capture today’s competitive market.
Chapter 1
Introduction
In today's age of consumerism, insurance requirements have expanded to keep pace with the
increasing risks. Today we have wide assortment of risk coverage commencing from ransom
to wedding, shops to assets, travel to vehicles etc. General Insurance companies have
willingly catered to these increasing demands and have offered plethora of insurance covers
that almost cover anything and everything under the sun.
Hence foreseeing the General Insurance business as a Sunrise Industry, Shriram Group has
entered into this business and as a result Shriram General Insurance came into existence.
Upto Sept 2012 it was a 74:26 Joint Venture between Shriram Capital Ltd. and Sanlam
Limited (South Africa). SANLAM is a leading Financial Services Group of South Africa
with a market capitalization of more than $6 billion, established in 1918 and the Group
demutualised in 1998. SANTAM is a part of Sanlam Limited, which is engaged in short-term
insurance cluster and is the leading short-term insurance company in South Africa. In
September 2012, the stake of Sanlam Limited (South Africa) has been transferred to Shriram
Capital Ltd. However, in August 2016, Sanlam Emerging Markets (Mauritius) Limited
acquired 23% stake in Shriram General Insurance from Shriram Capital Limited. In April
2022 Shriram Capital Limited has divested 9.99% stake in the Company in favour of Tangent
Asia Holdings II Pte. Ltd., Singapore (KKR Group). Shriram Capital presently holds 66.64%
in the Company.
The overall team of SGI includes young and vibrant senior executives of insurance domain to
handle Underwriting and Claim matters.
The business philosophy of Shriram General Insurance is to serve the largest number of
common people ("AamAdmi"). The Group's continued focus on addressing customer needs,
nurturing talent and bringing a home-grown technology platform while delivering to the
underserved segments of the economy, has ensured strong growth & sustainability for over 4
decades. The Group's vision is serving to the underserved and creating value at the bottom of
the Pyramid.
SGI is redefining the service parameters of General Insurance Industry by ensuring that each
employee understands the Slogan "BE INSURED... REST ASSURED" in its spirit and the
customer has an overall pleasant experience. The company is giving special attention to the
innovative products and application of latest IT developments in its operations.
SGI has been awarded "Excellence in Growth Award" for 2 consecutive years (2011 &
2012).
Thus, SGI is all set to become the FIRST CHOICE General Insurance Company of India.
Promoters
Shriram General Insurance is a Joint Venture of Shriram Group (India) and Sanlam of South
Africa wherein Shriram Capital Limited is holding around 67% stake and Sanlam is holding
around 23% stake.
Shriram Capital Limited (SCL) is the overarching holding company for the Financial
Services and Insurance entities of the Shriram Group, created with the primary objective of
optimizing the synergies across the Group’s entities.
SCL and its operating entities, have an overall customer base in excess of 12 Million, around
77,000 employees across 3,850 offices, net profit of INR 22 billion with Assets Under
Management (AUM) in excess of over INR 1,500 billion.
SCL is well-positioned to take the Group to next strategic level through consolidating its
position in some of the key businesses like Transport Finance, SME finance and providing
the necessary impetus to grow its Retail Finance businesses.
SCL helps to grow the Insurance businesses (both Life & General Insurance) in the Group
with optimal profit. The strategic reorientation of SCL will help Shriram Group to be a
significant and profitable enterprise in various facets of the Financial Services businesses in
India and overseas
Chapter 2
Company Profile
Established in 1974, Shriram Group has been a key player in the Indian financial services
sector. Core strength of the group lies in the financial services as the pioneers in truck
financing and chit business. By catering to the needs of the masses, Shriram Group has
evolved as a prominent financial services conglomerate.
Shriram Group has partnered with Sanlam, a leading insurer in South Africa to enter
insurance business. In a joint venture, Shriram Group and Sanlam provide both Life and Non-
Life Insurance solutions. The Group began its journey in Life insurance business in
December, 2005 and launched its Non-Life insurance business in July, 2008. In the span of
10 years, Shriram Group has grown at a rapid and enviable rate with CAGR of over 40%.
With over 3200 branches, Shriram Group today has more than 64,000 employees and AUM
of 1.2 Lac Crore.
Shriram Group was founded by Mr.R.Thyagarajan with the motive of serving the common
man for financial empowerment. Mr.R.Thyagarajan was awarded India's third highest civilian
award, the Padma Bhushan in 2013 in the field of trade and industry. Shriram Group believes
and follows his one mantra of <People First=. This value system has been methodically
instilled and institutionalized into the Shriram group over the last 4 decades.
Shriram Fortune Solutions Ltd. (SFSL) is among India’s premier integrated financial services
provider backed by the Shriram Group of Chennai, helping people protect and grow their
wealth with ease. SFSL has wide network of over 140 branches and presence in more than
200 locations across the country. In these years, SFSL has serviced more than 10 lakh
customers for various products.
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11
Research Methodology
The research problem consists of series of closely related activities. At times; the first step
determines the native of the last step to be undertaken. Why a research has been defined,
what data has been collected and what particular methods have been adopted and a host of
similar other questions are usually answered are usually answered methodology concerning a
research problem or study.
Research Design
A research design is defined as the specific methods and procedures for acquiring the
information needed. It is a plant or organizing framework for doing the study and collecting
the data. Designing a research plan requires decisions all the data sources, research
approaches, research instrument, sampling plan and contact methods.
1. Exploratory research
2. Descriptive research
3. Casual research
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Exploratory research
Descriptive research
Casual research
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Purpose of Study
To know how many people are aware about Shriram General Insurance Co. Ltd.
To find and analyse the factors affecting the investors choice in selecting general
insurance in private industry.
To analyse the services quality offered by the company that satisfies the needs of
customers and give suggestions to improve their marketing strategies.
Data collection source are basic data. These are first data that researchers have gathered to
achieve their research goals. In this particular study, primary data were collected from 30
respondents with the objectives of the study in mind.
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Sampling Design
The random sampling is done because any probability sampling procedure would require
detailed information about the universe, which is not easily available furthered, as it is being
an exploratory research.
Sample Procedure
In this study <random sampling= procedure is used. Random sampling is preferred because of
some limitation and the complexity. Choosing part of a population to use to test hypotheses
about the entire population. Used to choose the number of participants, interviews, or work
samples to use in the assessment process. Used, e.g. random or stratified sampling.
SAMPLING SIZE
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Sample Questionnaire
Name:-
Age:-
Gender:-
data
Yes No
0% 0%
30%
70%
Data
Private Public
0% 0%
20%
80%
16
Data
The Media Insurance agent Friends, family and colleagues other
10%
20% 40%
30%
Data
1 2 3 4
10%
10%
20% 60%
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5. What kind of insurance policies do you have? Check as many as you’d like.
a. Savings policy
b. Whole life policy
c. Bike policy
d. Car policy
Data
Saving Whole life Bike Car
10%
40%
30%
20%
6. Have you received any benefits from any of the policies you current have?
a. Yes
b. No
Data
Yes No.
0% 0%
30%
70%
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Data
1 2 3 More than three
20%
10% 50%
20%
19
Data
Monthly Quarterly Half Yearly Yearly
30% 30%
20% 20%
Data
Yes No
0% 0%
20%
80%
20
Data
Yes No
0% 0%
30%
70%
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Finding
The finding which can be drawn from the survey conducted by me is summarised as Follows:
70% people have insurance policy and 30% people still not taken any policy.
The people who have taken the insurance policy 80% have private policy, and 20%
have public policy.
40% people know about insurance through social media, 30% through insurance
agent, 20% from their friends, family & colleagues and 10% through other source.
60% people have 1 policy, 20% have 2, 10% have 3, and 10% have 4 policy.
40% people have saving policy, 20% have whole life policy, 30% have bike policy,
and 10% have car policy.
70% people benefited by the policy they have, and 30% people not taken any benefit.
The people who have policy among them 50% people received 1 time benefit, 20%
people 2 time, 10% people 3 time, and 20% people more than 3 time got benefited by
their policy.
30% people pay their policy premium on monthly basis 20% on Quarterly basis, 20%
half yearly, and 30% yearly basis.
80% people lapsed their policy due to not payment of premium on time, and 20%
people not lost their policy.
70% people aware about policy bonus and 30% people not aware about policy bonus.
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Conclusion
General Insurance or non-life insurance is the insurance that covers all the types of properties
and health excluding the life of the customer. In general insurance, pay-outs are made in the
event of an unexpected loss such as an accident or a theft, or a sudden liability. General
insurance includes products such as Home insurance, motor insurance, Property insurance,
health insurance, travel insurance, Liability insurance, Marine insurance, and other
miscellaneous insurance. All the general insurance policies would be underwritten only by
the general insurance companies in India.
Insurance is a large investment and you will most likely purchase multiple policies
throughout your lifetime. It is essential that you know what each type of insurance covers and
how it works so you can make the best decision about what to buy. Do not base your decision
on just what is cheapest, but look at what it provides.
Take the time to shop around and find the right insurance for your situation. People often say
they cannot afford insurance, but the reality is that they cannot afford not to have it. It can
save them from thousands or more dollars in unplanned expenses when unexpected situations
arise. You do not want to waste your money on policies that do not meet your needs, but the
right insurance policy can protect you and your family from unforeseen disasters.
Buying insurance is important as it ensures that you are financially secure to face any type of
problem in life. While everyone advises you to get insurance for yourself, your loved ones,
no one talks about the different types of insurance that are available. Let us understand the
basic types of insurance. There are two types of insurance policy one is life insurance and
another one is general insurance. Before diving into the topic let us understand the basic
definition of life insurance and general.
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Bibliography
https://www.studocu.com/in/document/utkal-
university/business/internship
https://www.google.com/search?q=data+collection+methods
https://www.questionpro.com/blog/types -of-sampling-for-
social-research/
https://www.questionpro.com/survey-templates/insurance-
policy/
https://www.policybachat.com/articles/life-insurance-vs-
general-insurance
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