Perception of customer

toward vehicle insurance

Presented by: Supervised by:

Rajveer singh Prof. Preeti sharma
Introduction
Insurance is contract between an insurer and
the insured under which undertakes to
compensate the insured for loss arising from
the risk insured against. In consideration,
the insured agrees to pay a sum called as
Premium in advance. The instrument
containing the contract of insurance is called
as the Policy.
Meaning of the vehicle insurance

Motor vehicle insurance, also called automotive

insurance, a contract by which the insurer
assumes the risk of any loss the owner or
operator of a car may incur through damage to
property or persons as the result of an
accident.
Objectives
 To understand the need for buying a vehicle
insurance.

 To study different types of plans covered

under vehicle insurance.

 To know the satisfaction level of customers

regarding claim settlement process.
 Research Methodology

 Research Design: Descriptive Research.

 Sampling Area: khanna and rural areas
 Sampling method : Simple random sampling
 Sample Size: 50 Respondents
 Sources of Data Collection: Primary Data
 Tools Used: Table and Chart
Data analysis
and
interpretation
 Which company do you prefer for
vehicle insurance
28 30
PARTICUL RESPOND % OF 30
16 14
AR ENTS RESPOND 20 12
ENTS
10
Bajaj 14 28
0
Allianz
New India 8 16
Assurance
HDFC 6 12
Ergo
Bharti AXA 15 30
Other 7 14
 Factor influencing the selection of insurance
company
PARTICULAR RESPONDEN % OF 40 32
TS RESPONDEN 30
TS
20 14
Advertiseme 6 12 6 8
10 2
nt
0
Agents 32 64
Relatives / 7 14
friends
Neighbours 1 2
Social media 4 8
 How many times you bought the insurance of
your vehicle
PARTICULA RESPONDE % OF 40 32
R NTS RESPONDENTS 30 26
18
One time 7 14 20 14
10
Two times 9 18 10
0
Three 13 26
one two three four five
times
time times times times and
Four times 5 10 more
Five and 16 32
more
Reason for taking insurance policy
PARTICULA RESPONDE % OF
30 44 40
R NTS RESPONDE
16
NTS 0
le l e r t
Protection 22 44 i c r u p o
h t p
ve en u
for vehicle
o f m als
o n i
Governme 20 40 n ver n c
it o o n a
c g fi
nt rule
o te
pr
Financial 8 16
support
What type of a vehicle insurance policy are you
looking for
PARTICULA RESPONDE % OF
R NTS RESPONDE
12
NTS car
22
Car 11 22 bike
insurance 66 commer-
Bike 33 66 cial
insurance
Commercia 6 12
l vehicle
insurance
 How much delay you caused in finalizing the
proposals
PARTICULA RESPONDE % OF 40 34
R NTS RESPONDE 30 26
NTS 18
20 14
Without any 13 26 8
10
delay
0
One day 17 34 with one two three more
out day day day than
Two day 7 14
any three
Three day 9 18
delay day
More than 4 8
three day
 Which method do you prefer while buying a
vehicle insurance policy

120
98
PARTICULA RESPONDE % OF
R NTS RESPOND 80
ENTS
Tradition 1 2 40
2
online 49 98 0
traditional online
 What kind of insurance policy do you have

PARTICUL RESPOND % OF 100 60

40
AR ENTS RESPOND
ENTS 0
comprehen- third party
Compreh 30 60
sive
ensive
Third 20 40
party
 Does Insurance companies give proper response
with your queries
PARTICU RESPONDE % OF
20
LAR NTS RESPONDENTS
Excellent 8 16 21
10 16
Very good 21 42 8
4 2
0
Good 16 32 t r
en o d o d ge o
Average 4 8 ell g o g o
er
a po
x c ry av
e v e
Poor 1 2
Have you ever been in a situation where
you have not received the correct claim
amount or have been denied your claim
PARTICU RESPON % OF
100
LAR DENTS RESPON
80
DENTS
60
86
Yes 7 14
40
No 43 86 20 14
0
yes no
 Have you shifted from one to another
Insurance in the previous financial year
80
PARTIC RESPON % OF
ULAR DENTS RESPO 60
NDENT
S 40 68

Yes 34 68 20 32

No 16 32
0
yes no
 Satisfaction level of the customer towards claim
settlement.
PARTICUL RESPOND % OF
AR ENTS RESPONDE
NTS 30 44
36
HIGHLY 3 6 6 4 10
0
SATISFIED e e a l d d
if d if d tr if e if e
is is u is is
SATISFIED 18 36 sa
t
sa
t ne sa
t
sa
t
s s
NEUTRAL 22 44 h l y di di
g ly
hi g h
DIS 2 4 hi
SATISFIDE
HIGHLY 5 10
DIS
SATISFIED
Finding of the study
Conclusion
Thank
you