You are on page 1of 14

CURRENT SCENARIO IN INDIAN LIFE

INSURANCE WITH SPECIAL REFERENCE TO


AEGON RELIGARE

| 

  


Industry Guide: Faculty Guide:


Mr. Haris Rasheedi Mrs. Payal Singh
OBJECTIVES

 To understand various funds.

 The project assigned to me has an objective to find and


analyze the current scenario of Insurance Industry, covering
the preferences of current as well as prospective customers.

 The major part of the project also analyses the size of


investment in various parts and mind set of the customers
regarding this as well as the perceptions of customers towards
major leading Insurance Industry players.
||  | 

 I have collected the data from the primary research and the
secondary as well, to understand the current scenario for the
Insurance Industry also keeping the Aegon Religare in mind.
The size of the country combined with problems of
connectivity in the rural areas, makes insurance selling in
India a difficult proposition. The distribution capabilities
strongly influence product design in insurance. The
distribution channels have a direct impact on the insurer¶s
market image. Emergence of alternative channels such as
Bancassurance and Internet is reshaping the insurance
industry. India with a population of more than a billion people
offers unlimited growth potential.
RESEARCH DESIGN

 The data collected is Primary data and Secondary


data.
  !
 Data was collected by visiting Insurance Industry
Agents across Delhi and NCR .

 "# $!%& '!


 A sample of 50 people was taken on the basis of
random sampling.
 &()|( %
 Research work is only carried for 2 or 3 weeks.
 !%(* 
collected from the newspapers, expert reports,
internet and website, etc..
 Existing market scenario of Aegon Religare market
with respect to Insurance Industry.
 Customers views regarding Insurance Industry.
 Experts¶ opinion regarding Indian and
contribution of Aegon Religare into it.
 | +  
 collected through questionnaire and Interviews presented to
the different agents customers and retailers.
ü Questionnaire ± Structured
 Dichotomous, open ended, multiple choice
ü Personal Interview
ü General Discussions
  &%
 Bar Graph, Pie Diagram
  |+ 
 Random Sampling chosen by the gathering of data
  + +, 
 likert scale base questionnaire.
Company Profile

 It is a joint venture between


AEGON(26%),RELIGARE(44%) AND BCCL(30%).
 Started it¶s operation in july 2008
 More then 100 branches over 50 Cities
 More than 1000 Employees
 Features 11 products
RELIGARE¶S OTHER JOINT VENTURE

  '(-.( )!'"!%.

&(  '(/)0 "0.!%
 0( &)( " %
 .#(  '(1(( & " %
  '(!&&%2
  '()!3%2
  '(
*'&%2
MAJOR COMPETITORS

 LIC
 ICICI
 HDFC
 BIRLA SUL LIFE
 MAX NEW YORK
 BAJAJ ALLIANZ
What is an ULIP?

 Investments linked insurance Plan.


 Life is insured as well as return on the investments.
 Managed By IRDA (Insurance Regulatory & Development Authority)
 Various options are available
> Equity Funds

> Debt Funds

> Money Market Fund

> Balance Funds


Findings

 There is very tough competition among the private insurance


companies on the level of new trend of advertising to lull a major part
of Customers.
 AEGON RELIGARE is good in promoting their products.
 The entry of more Pvt. players in the Insurance Sector have expanded
the product segment.
 AEGON RELIGARE has vast market and very firm grip on its
traditional customers and monopoly of life insurance products..
 IRDA, is also playing very comprehensive role by regulating norms
mandating to private players in this sector, that increases the
confidence level of the customers to the private players.
Suggestions

 There is a need for other promotional measures to


create awareness as it is a new company.

 More returns should be provided on Insurance


plans.

 Tie up with the banks.


Limitations

 Study was restricted to Gurgaon, Noida, Greater


Noida, Vaishali and Indirapuram.

 Study was restricted to Aegon Religare Insurance


company
 4


You might also like