1. TRAINING REPORT
2013
A
SUMMER TRAINING REPORT
ON
“CUSTSOMER-BUYING BEHAVIOUR WITH A FOCUS ON MARKET
SEGMENTATION”
Conducted at:
DLF PRAMERICA LIFE INSURANCE COMPANY LTD.
Submitted in partial fulfillment of the requirement for the award of the
Degree of master in business administration (session 2012-2014)
M.B.A 3rd semester
SUBMITTED TO :
KURUKSHETRA UNIVERSITY,
KURUKSHETRA .
SUBMITTED BY :
Malkeet Singh
M.B.A (hons)F
Roll no. 46
UNIVERSITY SCHOOL OF MANAGEMENT
KURUKSHETRA UNIVERSITY, KURUKSHETRA.
HARYANA-136119(INDIA)
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 CONTENTS
Preface
Acknowledgement
Declaration
Organization certificate
Executive summary
Sr. no. Chapters name
Page no.
1.
Industry profile
8.
2.
Company profile
20.
3.
Research methodology
33.
3.1 Objectives of the study
3.2 Research design
3.3 Methods of data collection
3.4 Techniques
3.5 Scope of the study
3.6
Significance of the study
3.7
Limitations of the study
4.
Study of the topic
38.
5.
Analysis and interpretation
40.
6.
Findings, Conclusion and policy implication
60.
7.
Suggestions
62.
8.
Bibliography
63.
9.
Appendix
64.
Questionnaire
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 PREFACE
The liberalization of the Indian insurance sector has been the subject of much heated debate
for some years. The policy makers where in the catch 22 situation wherein for one they
wanted competition, development and growth of this insurance sector which is extremely
essential for channeling the investments in to the infrastructure sector. At the other end the
policy makers had the fears that the insurance premia, which are substantial, would seep out
of the country; and wanted to have a cautious approach of opening for foreign participation in
the sector.
As one of the rare occurrences the entire debate was put on the back burner and the IRDA
saw the day of the light thanks to the maturing polity emerging consensus among factions of
different political parties. Though some changes and some restrictive clauses as regards to the
foreign participation were included the IRDA has opened the doors for the private entry into
insurance.
Whether the insurer is old or new, private or public, expanding the market will present
multitude of challenges and opportunities. But the key issues, possible trends, opportunities
and challenges that insurance sector will have still remains under the realms of the
possibilities and speculation.
What is the likely impact of opening up India’s insurance sector?
The large scale of operations, public sector bureaucracies and cumbersome procedures
hampers nationalized insurers. Therefore, potential private entrants expect to score in the
areas of customer service, speed and flexibility. They point out that their entry will mean
better products and choice for the consumer. The critics counter that the benefit will be slim,
because new players will concentrate on affluent, urban customers as foreign banks did until
recently. This seems to be a logical strategy. Start-up costs-such as those of setting up a
conventional distribution network-are large and high-end niches offer better returns.
However, the middle market segment too has great potential. Since insurance is a volumes
game. Therefore, private insurers would be best served by a middle-market approach,
targeting customer segments that are currently untapped.
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 ACKNOWLEDGEMENT
First of fall I would like to thank the Management at DLF PAMERICA Life Insurance
Company Ltd for giving me the opportunity to do my two-month project training in their
esteemed organization. I am highly obliged to Mr. NEERAJ VERMA (Branch Manager) for
granting me to undertake my training at KARNAL branch.
I express my thanks to Mr. Kanwar Abhimanyu (Sales Managers) under whose able guidance
and direction, I was able to give shape to my training. Their constant review and excellent
suggestions throughout the project are highly commendable. My heartfelt thanks go to all the
executives who helped me gain knowledge about the actual working and the processes
involved in various departments
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 DECLARATION
I hereby declare that the project report titled “Customer-buying behavior with a
focus on market segmentation” at DLF PRAMERICA Life Insuarance Co. Ltd.
submitted in partial fulfillment of the requirement for the Degree of Master of Business
Administration
is record of bonafide research and that no part of this report has been
submitted for the award of any other diploma, degree fellowship or other similar title prize.
The report is based on my personal opinion hence cannot be referred for official or legal
purpose. The conclusion & findings in the project are based on the data collected by me. The
contents and the data are collected by me under the guidance of training guide.
Place: Kurukshetra
Date:_____________
6
Malkeet singh
(Signature)

7. TRAINING REPORT

2013
EXECUTIVE SUMMARY
• The success story of good market share of different market organizations depends
upon the availability of the product and services near to the customer, which can be
distributed through a distribution channel. In Insurance sector, distribution channel
includes
only agents or agency holders of the company. If a company like
RELIANCE LIFE INSURANCE, TATA AIG, MAX etc have adequate agents in the
market they can capture big market as compared to the other companies.
Agents are the only way for a company of Insurance sector through which policies and
benefits of the company can be explained to the customer
In today’s corporate and competitive world, I find that insurance sector has the maximum
growth and potential as compared to the other sectors. Insurance has the maximum growth
rate of 70- 80% while as FMCG sector has maximum 12-15% of growth rate. This growth
potential attracts me to enter in this sector and DLF PRAMERICA Life Insurance
Company Ltd has given me the opportunity to work and get experience in highly
competitive and enhancing sector.
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THE INTRODUCTION TO INDUSTRY
THE HISTORY OF INDIAN INSURANCE INDUSTRY
 Life Insurance
In 1818 the British established the first insurance company in India in Calcutta, the Oriental
Life Insurance Company. First attempts at regulation of the industry were made with the
introduction of the Indian Life Assurance Companies Act in 1912. A number of amendments
to this Act were made until the Insurance Act was drawn up in 1938. Noteworthy features in
the Act were the power given to the Government to collect statistical information about the
insured and the high level of protection the Act gave to the public through regulation and
control. When the Act was changed in 1950, this meant far reaching changes in the industry.
The extra requirements included a statutory requirement of a certain level of equity capital, a
ceiling on share holdings in such companies to prevent dominant control (to protect the
public from any adversarial
policies from one single party), stricter control on investments and, generally, much tighter
control. In 1956, the market contained 154 Indian and 16 foreign life insurance companies.
Business was heavily concentrated in urban areas and targeted the higher echelons of
society.“Unethical practices adopted by some of the players against the interests of the
consumers” then led the Indian government to nationalize the industry. In September 1956,
nationalization was completed, merging all these companies into the so-called Life Insurance
Corporation (LIC). It was felt that “nationalization has lent the industry fairness, solidity,
growth and reach.”Some of the important milestones in the life insurance business in
India are:
1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the
life insurance business.
1928: The Indian Insurance Companies Act enacted to enable the government to collect
statistical information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to by the Insurance Act with the objective
of protecting the interests of the insuring public.
1956: The market contained 154 Indian and 16 foreign life insurance companies.
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 General Insurance
The General Insurance industry in India dates back to the Industrial Revolution and the
subsequent increase in trade across the oceans in the 17th century. As for Life Insurance, the
British brought General Insurance to India, and a similar path was followed in the
development of this industry. A number of private companies were in existence for years and
years until, in 1971, the Indian Government decided that the public interest would be served
by nationalizing the industry, merging all the 107 companies into four companies, depending
on the sort of business transacted (Marine, Fire, Miscellaneous). These were the National
Insurance Company Ltd., the Oriental Insurance Company Ltd., the New India Assurance
Company Ltd., and the United India Insurance Company Ltd. located in Calcutta, New Delhi,
Bombay and Madras respectively. The General Insurance Corporation (GIC) was set up in
1972 as a ‘holding’ company, having these four companies as its subsidiaries.
Some of the important milestones in the general insurance business in India are:
1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes
of general insurance business.
1957: General Insurance Council, a wing of the Insurance Association of India, frames a
code of conduct for ensuring fair conduct and sound business practices.
1968: The Insurance Act amended to regulate investments and set minimum solvency
margins and the Tariff Advisory Committee set up.
1972: The General Insurance Business (Nationalization) Act, 1972 nationalize the general
insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and
grouped into four companies viz. the National Insurance Company Ltd., the New India
Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India
Insurance Company Ltd. GIC incorporated as a company.
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MAJOR PLAYERS IN THE INSURANCE INDUSTRY IN
INDIA
• Life Insurance Corporation of India (LIC)
Life Insurance Corporation of India (LIC) was established on 1 September 1956 to spread the
message of life insurance in the country and mobilise people’s savings for nation-building
activities. LIC with its central office in Mumbai and seven zonal offices at Mumbai, Calcutta,
Delhi, Chennai, Hyderabad, Kanpur and Bhopal, operates through 100 divisional offices in
important cities and 2,048 branch offices. LIC has 5.59 lakh active agents spread over the
country.
The Corporation also transacts business abroad and has offices in Fiji, Mauritius and United
Kingdom. LIC is associated with joint ventures abroad in the field of insurance, namely, KenIndia Assurance Company Limited, Nairobi; United Oriental Assurance Company Limited,
Kuala Lumpur; and Life Insurance Corporation (International), E.C. Bahrain. It has also
entered into an agreement with the Sun Life (UK) for marketing unit linked life insurance and
pension
policies in U.K.
In 1995-96, LIC had a total income from premium and investments of $ 5 Billion while GIC
recorded a net premium of $ 1.3 Billion. During the last 15 years, LIC's income grew at a
healthy average of 10 per cent as against the industry's 6.7 per cent growth in the rest of Asia
(3.4 per cent in Europe, 1.4 per cent in the US). LIC has even provided insurance cover to
five million people living below the poverty line, with 50 per cent subsidy in the premium
rates. LIC's claims settlement ratio at 95 per cent and GIC's at 74 per cent are higher than that
of global average of 40 per cent. Compounded annual growth rate for Life insurance business
has been 19.22 per cent per annum
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• General Insurance Corporation of India (GIC)
The general insurance industry in India was nationalized and a government company known
as General Insurance Corporation of India (GIC) was formed by the Central Government in
November 1972. With effect from 1 January 1973 the erstwhile 107 Indian and foreign
insurers which were operating in the country prior to nationalization, were grouped into four
operating companies, namely, (i) National Insurance Company Limited; (ii) New India
Assurance
Company Limited; (iii) Oriental Insurance Company Limited; and (iv) United India
Insurance Company Limited. (However, with effect from Dec'2000, these subsidiaries have
been de-linked from the parent company and made as independent insurance companies). All
the above four subsidiaries of GIC operate all over the country competing with one another
and underwriting various classes of general insurance business except for aviation insurance
of national airlines and crop insurance which is handled by the GIC. Besides the domestic
market, the industry is presently operating in 17 countries directly through branches or
agencies and in 14 countries through subsidiary and associate companies.
IN ADDITION TO ABOVE STATE INSURERS THE FOLLOWING
HAVE BEEN PERMITTED TO ENTER INTO INSURANCE
BUSINESS: The introduction of private players in the industry has added to the colors in the dull industry.
The initiatives taken by the private players are very competitive and have given immense
competition to the on time monopoly of the market LIC. Since the advent of the private
players in the market the industry has seen new and innovative steps taken by the players in
this sector. The new players have improved the service quality of the insurance. As a result
LIC down the years have seen the declining phase in its career. The market share was
distributed among the private players. Though LIC still holds the 75% of the insurance sector
but the upcoming natures of these private players are enough to give more competition to LIC
in the near future. LIC market share has decreased from 95% (2002-03) to 82 %( 2004-05).
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1.DLF Pramerica life insurance
DLF Pramerica Life Insurance Company Limited is a joint venture between DLF Limited,
one of India’s largest and most respected real estate organizations, and Prudential
International Insurance Holdings, Ltd (PIIH), a fully owned subsidiary of Prudential
Financial, Inc. (hereafter referred to as “PFI”), a U.S. based financial services leader
About DLF
DLF Limited is one of the leading real estate companies in the world. It has a track record of
over six decades of sustained growth, customer satisfaction, and innovation. DLF's primary
business is development of residential, commercial and retail properties. DLF has a unique
business model with earnings arising from development and rentals. DLF has entered into
several strategic alliances with global industry leaders. Also, it has recently forayed into the
infrastructure, SEZ, financial services and hotel businesses.
About PFI
Pramerica Financial is a trade name used by PFI, a company incorporated and with its
principal place of business in the United States, and its affiliates in select countries outside
the United States. PFI is a financial services leader with operations in the United States, Asia,
Europe, and Latin America. PFI’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth through a variety of
products and services, including life insurance, annuities, retirement-related services, mutual
funds, investment management, and real estate services. In the U.S., the company’s iconic
Rock symbol has stood for strength, stability, expertise and innovation for more than a
century. PFI of the United States is not affiliated in any manner with Prudential plc, a
company incorporated in the United Kingdom.
2. Max New York Life Insurance Co. Ltd.
Max New York Life Insurance Company Limited is a joint venture that brings together two
large forces - Max India Limited, a multi-business corporate, together with New York Life
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International, a global expert in life insurance. With their various Products and Riders, there
are more than 400 product combinations to choose from. They have a national presence with
a network of 57 offices in 37 cities across India.
3. ICICI Prudential Life Insurance Company Ltd.
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier
financial powerhouse and prudential plc, a leading international financial services group
headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector
insurance companies to begin operations in December 2000 after receiving approval from
Insurance Regulatory Development Authority (IRDA). The company has a network of about
56,000 advisors; as well as 7 banc assurance and 150 corporate agent tie-ups.
4. Om Kotak Mahindra Life Insurance Co. Ltd.
Kotak Mahindra Old Mutual Life Insurance Ltd. is a joint venture between Kotak
MahindraBank Ltd. (KMBL), and Old Mutual plc.
5.Birla Sun Life Insurance Company Ltd.
Birla Sun Life Insurance Company is a joint venture between Aditya Birla Group and Sun
Life financial Services of Canada.
 Tata AIG Life Insurance Company Ltd.
 SBI Life Insurance Company Limited
 ING Vysya Life Insurance Company Private Limited
 Allianz Bajaj Life Insurance Company Ltd.
 Metlife India Insurance Company Pvt. Ltd.
 AMP SANMAR Assurance Company Ltd.
 Dabur CGU Life Insurance Company Pvt. Ltd.
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1. Royal Sundaram Alliance Insurance Company Limited
The joint venture bringing together Royal & Sun Alliance Insurance and Sundaram Finance
Limited started its operations from March 2001. The company is Head Quartered at Chennai,
and has two Regional Offices, one at Mumbai and another one at New Delhi.
2. Bajaj Allianz General Insurance Company Limited
Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Auto
Limited and Allianz AG of Germany. Both enjoy a reputation of expertise, stability and
strength. Bajaj Allianz General Insurance received the Insurance Regulatory and
Development Authority (IRDA) certificate of Registration (R3) on May 2nd, 2001 to conduct
General Insurance business (including Health Insurance business) in India. The Company has
an authorized and paid up capital of Rs 110 crores. Bajaj Auto holds 74% and the remaining
26% is held by Allianz, AG, Germany.
3. ICICI Lombard General Insurance Company Limited
ICICI Lombard General Insurance Company Limited is a joint venture between ICICI Bank
Limited and the US-based $ 26 billion Fairfax Financial Holdings Limited. ICICI Bank is
India's second largest bank, while Fairfax Financial Holdings is a diversified financial
corporate engaged in general insurance, reinsurance, insurance claims management and
investment management. Lombard Canada Ltd, a group company of Fairfax Financial
Holdings Limited, is one of Canada's oldest property and casualty insurers. ICICI Lombard
General Insurance Company received regulatory approvals to commence general insurance
business in August 2001.
4. Cholamandalam General Insurance Company Ltd.
Cholamandalam MS General Insurance Company Limited (Chola-MS) is a joint
venture of the Murugappa Group & Mitsui Sumitomo. Chola-MS commenced
operations in October 2002 and has issued more than 1.4 lakh policies in its first
calendar year of operations. The company has a pan-Indian presence with offices in
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Chennai, Hyderabad, Bangalore, Kochi, Coimbatore, Mumbai, Pune, Indore,
Ahmedabad, Delhi,
Chandigarh, Kolkata and Vizag.
5. TATA AIG General Insurance Company Ltd.
Tata AIG General Insurance Company Ltd. is a joint venture company, formed from the Tata
Group and American International Group, Inc. (AIG). Tata AIG combines the strength and
integrity of the Tata Group with AIG's international expertise and financial strength. The Tata
Group holds 74 per cent stake in the two insurance ventures while AIG holds the balance 26
per cent stake. Tata AIG General Insurance Company, which started its operations in India on
January 22, 2001, offers the complete range of insurance for automobile, home, personal
accident, travel, energy, marine, property and casualty, as well as several specialized
financial lines.
6. Reliance General Insurance Company Limited.
7. IFFCO Tokio General Insurance Co. Ltd
8. Export Credit Guarantee Corporation Ltd.
9. HDFC-Chubb General Insurance Co. Ltd.
 Marketing of Insurance In India
Insurance is in a manner of speaking the last frontier in the financial sector to open. It is also
a sector, which leads to benefits across the full spectrum, from the individual who now have
wider choices, to the economy, which see increased savings, to the infrastructure sector,
which can look forward to long term funding being available. In an under-insured economy,
newer channels of distribution have to be utilized to intensify the reach of insurance both in
urban and rural markets. This will create huge employment opportunities not only within
insurance companies but also as agents and consultants of insurance companies.
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 Marketing Mix Policies
Different companies can choose to position themselves differently and hence the
Marketing Mix is different. However, there are certain common characteristics that
one can cull out from the possible strategies that companies adopt.
Product:
The development of flexible products to suit individual requirements is what will differentiate
the winners from the also-rans. The key to success is in providing insurance solutions, not
standardized insurance products. The concept of riders/optional benefits has already been a
huge innovation brought about by the new players, which has led to customization of
products for individual needs. However, companies may differentiate themselves on the basis
of product segments that they choose to focus on and excel in.
Place:
Different companies may however choose different channels and different geographies to
focus on. The channel options are - tied agency force, corporate agents and brokers and this is
an area where different companies will make different choices. Many companies like
DLFpramerica Life are focusing on all channels whereas companies like Max New York Life
are focusing on the tied agency force only. Customer interface will be a key challenge for life
insurance companies and includes every that interaction that the customer has with the
company, such assales, new business underwriting, policy servicing, premium payments,
claim processing and so
on. Technology can play a crucial role in delivering the highest standards of service set by
thecompany and it will be imperative for any serious player to excel in all of these.
Price:
Price is a relevant differentiator only in two segments - pure term insurance and in pure
annuities. Here too, service delivery and financial strength will need to be present at a
minimumacceptable level for price to be a relevant differentiator. In case of savings oriented
products, long-term returns generated are more relevant than just the price of the product. A
focus on generating good investment performance and keeping a tight control on costs help in
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generating good long-term maturity value for customers. Norms have been laid down on all
of these by IRDA and adhering to these while delivering good returns will be a challenge.
Promotion and Advertising:
The level of demand is latent and will have to be activated considerably. The market needs to
be developed. Greater awareness of insurance and the need to have it as a protection tool
rather than as a tax planning measure needs to be appreciated by the Indian people. Various
communication tools including advertising, direct marketing and road shows contribute to all
this and different companies take different approaches on these.
Process:
Cashless settlement: One of the most defining and customer-friendly changes that we’ve
seen in recent years relates to the way claims settlements are made. The advent of the thirdparty administrator (TPA) regime has facilitated the transition to the hugely convenient era of
cashless settlement of health and auto insurance claims. TPAs are entities who process claims
on behalf of insurers: the IRDA licenses them after it is satisfied that they have the financial
strength, the trained manpower, the infrastructure and the skills to undertake this activity.
Likewise, with auto insurance, the TPA ties up with garages and authorized service centers
for cashless settlement of auto insurance claims.
Lower premiums: The spirit of competition and the broadening of the risk experience of
insurance companies have contributed to a fall in premiums over the years. That’s because,
other things being equal, an insurer who covers the lives just of 10 people bears a higher risk
than an insurer who covers the lives of, say, 100 people. Further, a broader base will provide
greater efficiencies on costs such as distribution, management and claims. A broad basing of
the mortality experience, therefore, gives insurers the elbowroom to compete by lowering
premiums, and that trend is expected to continue.
Premium payment flexibility: Insurers have imparted certain flexibility to premium
payment options in order to address this concern. For instance, one now have the option to
pay your premiums upfront, which is then carried forward for the tenure of the policy. The
yearly premiums are drawn from the initial corpus. Insurers have also introduced the concept
of ‘automatic cover maintenance’ to protect your policy from lapsing owing to your omission
to pay your premium on time. Under this, in the event of your not paying the premium, the
insurer dips into your investment account to the extent of the premium. Of course, this comes
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with an inbuilt drawback: your investment portion diminishes year on year to the extent of
the amount paid to cover your risk.
Physical Evidence:
This can play a significant role for marketing in the Indian scenario. Since Internet users are
comparatively lesser than countries such as US, the offline mode will be preferred in India.
Although the distribution model is largely agent-based, wherever the customer is in contact
with the company, this factor can play a significant role in luring the customer.
People:
The most important factor that materializes sales and maintains customer relationships on a
long-term basis is this factor. No matter what distribution strategy a company adopts,
customer relati
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 INTRODUCTION TO THE COMPANY
 COMPANY PROFILE OF DLF PRAMERICA LIFE
INSURANCE COMPANY LTD.
About DLF PRAMERICA LIFE INSURANCE
For DLF Pramerica Life Insurance Company Limited, this is not just a phrase - it is a
promise. It is to deliver on this promise to you, our customers, and your loved ones that we
commenced business on September 01, 2008.
We know that our work begins much before telling you about our products - it begins with
comprehensive advice on everything related to insurance. From giving insurance advice to
offering information on our solutions and services and then finally to provide you with the
promised protection, our team stays with you every step of the way. A hand-picked and
highly trained sales force ensures that your needs are assessed accurately so that you can
make an informed choice and you get the insurance cover that is best suited to your needs.
We understand that your needs may vary from investment returns to protection and we advise
you on achieving both. Our mission is to not just help you with insurance, but also help you
achieve overall financial security. Through our customized plans and advice, we ensure that
you are financially secure to face any eventuality.
Ultimately, we are not just a life insurance provider. We are a symbol of trust, commitment
and leadership. We are a promise of protection.
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 Leadership
PavanDhamija
Managing Director & CEO
Pavan Dhamija is the Managing Director & CEO of DLF Pramerica Life Insurance Company
Limited (DPLI).
Mr. Dhamija joined DPLI in August 2010 as Chief Operating Officer responsible for
oversight of several key departments in the company. He was appointed the CEO in January
2011. In his new role, he is focused on strengthening the business proposition and building a
robust operating model for sustained growth of the company.
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Pavan Dhamija has over 17 years of experience in the retail financial services sector having
worked with leading consumer finance companies including GE Money, Standard Chartered
Bank and HDB, a fully owned subsidiary of HDFC Bank. He has initiated and implemented
effective business models in India and China and built several successful strategic
partnerships, many from scratch. He has the unique exposure of working across functions;
both front end and back end and brings in valuable experience of working within start-up
environments, in JVs and with partners.
Pavan Dhamija is an alumni of the Indian Institute of Management (IIM), Ahmedabad, and
the Indian Institute of Technology (IIT), Kanpur.
 Lineage
DLF Pramerica Life Insurance Company Limited is a joint venture between DLF Limited,
one of India’s largest and most respected real estate organizations, and Prudential
International Insurance Holdings, Ltd (PIIH), a fully owned subsidiary of Prudential
Financial, Inc. (hereafter referred to as “PFI”), a U.S. based financial services leader
 About DLF
DLF Limited is one of the leading real estate companies in the world. It has a track record of
over six decades of sustained growth, customer satisfaction, and innovation. DLF's primary
business is development of residential, commercial and retail properties. DLF has a unique
business model with earnings arising from development and rentals. DLF has entered into
several strategic alliances with global industry leaders. Also, it has recently forayed into the
infrastructure, SEZ, financial services and hotel businesses.
 About PFI
Pramerica Financial is a trade name used by PFI, a company incorporated and with its
principal place of business in the United States, and its affiliates in select countries outside
the United States. PFI is a financial services leader with operations in the United States, Asia,
Europe, and Latin America. PFI’s diverse and talented employees are committed to helping
individual and institutional customers grow and protect their wealth through a variety of
products and services, including life insurance, annuities, retirement-related services, mutual
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funds, investment management, and real estate services. In the U.S., the company’s iconic
Rock symbol has stood for strength, stability, expertise and innovation for more than a
century. PFI of the United States is not affiliated in any manner with Prudential plc, a
company incorporated in the United Kingdom.
Pramerica and the Rock Logo are proprietary servicemarks and may not be used without the
permission of the owner.
 Vision & Values
Our Vision
At DLF Pramerica Life Insurance, our vision is to ensure that every life we touch, feels
secure and enriched.
Our Mission
We shall be a guide and a mentor to people so that they are able to make the most informed
insurance decisions to meet their life goals.
 Our Values
Customer Focused
Be someone who places customers and their needs at the forefront while developing and
managing their financial solutions.
Mutual Respect
Build mutual respect by being an equal partner, who knows and willingly shares, helping
people go further, rather than walking ahead and leading them, or walking behind and
following.
Worthy of Trust
Build trust by choosing the right path, rather than the easy path and tell the truth the way it is.
Be someone who keeps promises, meets commitments and behaves with integrity at all times.
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Winning
Be positive and confident; seize every moment, every day, with a winning perspective,
fearlessly facing the uncertainties of life.
The Rock
Standing tall and firm.
At DLF Pramerica, the Rock is not just a corporate symbol. It is the essence of our being. It is
the icon of strength, stability, expertise and innovation and is the symbol of our unshakable
commitment to our customers, stakeholders and employees. It is also the seal of security for
the lives we touch. In fact, at the heart of everything we offer at DLF Pramerica - be it a sense
of trust, a ray of hope or a dash of happiness, are values that are truly and quintessentially
Rock-Solid.
 Spirit Awards for Community Service
THE 2013 PRAMERICA SPIRIT OF COMMUNITY AWARDS
The Pramerica Spirit of Community Awards is a school-level recognition programme for
volunteer community service. The objective is to encourage the efforts of school children
currently engaged in voluntary community service and hold them up as role models for all
young Indians.
The programme is an extension of the Prudential Spirit of Community Awards, the largest
youth recognition programme in the United States, which Prudential Financial, Inc. (PFI) has
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been conducting for the last 17 years to identify the country’s top youth volunteers. The
annual recognition events for these winners are held in Washington, D.C. and include gala
award ceremonies at the Smithsonian's National Museum of Natural History and the U.S.
Chamber of Commerce, tours of the capitol historic monuments and landmarks,
Congressional visits on Capitol Hill, a festive dinner cruise on Potomac river and many other
exciting events. It also offers opportunity to the honourees from participating countries to
share their experiences and ideas with one another. Honourees also hear from notable public
figures. Past speakers have included Jimmy Carter, Barbara Bush, Magic Johnson, Richard
Dreyfuss, Madeleine Albright, Martin Sheen, Rudy Giuliani, Whoopi Goldberg, Susan
Sarandon, Colin Powell, Ted Danson, Peyton Manning, Sarah Fergusan (The Duchess of
York), Laura Bush, Condoleezza Rice and numerous U.S. senators.
Besides the United States, the Spirit of Community Awards programme is conducted in
Japan, South Korea, Taiwan and Ireland. In India, the programme was introduced in 2010 and
more than 3500 students from across the country have participated in this initiative since
then.
Awards & Recognitions
DPLI was awarded as the "Best Insurer – Technology" by Asia Insurance Review and
Celent (part of Oliver Wyman group) in the inaugural ‘Asia Insurance Technology Awards’
held in Seoul in November 2011. The company was recognised for its initiatives in using
technology to make life insurance solutions accessible to the under-developed/ under-served
markets.
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27. TRAINING REPORT
2013
DPLI won the "Skoch Financial Inclusion Award" in 2011 for an innovative marketing
initiative that aimed to generate awareness and understanding about the need and benefits of
life insurance among rural customers. The Skoch Awards recognize organizations doing
noteworthy work in the area of financial inclusiononship has to be taken care of in order to
maintain the customer base on a long
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
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27

28. TRAINING REPORT
2013
DLF Pramerica Family First
Your family, as your biggest source of happiness, is the world around which most of your
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You take care of all their needs - whether it is getting your children their favorite treats or
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Your life is precious, more so for your family and your loved ones. You are the one who
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and
well
taken
care
of.
Although we leave no stone unturned to make sure that all the needs of our family are met,
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Therefore, it becomes our duty as a responsible parent, a loving spouse or a dependable child
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
Child Progress Plans
As a parent you are the mainstay for building your children’s confidence through the care and
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insurance plans work as hard as you to realize your dreams for your child, with the financial
security to help you enjoy life, knowing that you have taken care of your child’s insurance
needs.
28

29. TRAINING REPORT
2013
DLF Pramerica Fee Protect+
As a parent you understand the importance of a proper school education in securing your
child’s future. While the school builds the foundation of all that your child will do in later
life, helping you ensure the best possible education for your children is one of our highest
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DLF Pramerica Fee Protect
As a parent, you understand the importance of a proper school education for securing your
child’s future. That is the reason why you take extraordinary effort to ensure that your child
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As parents, you ensure that your children receive two things. The first one is a strong
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for
them
to
blossom
in.
As parents, you will always be concerned about your children's security and what they
become tomorrow. The fact remains though, that you cannot foresee your children's future
but you can help shape it.
 Savings Plans
Your dreams for your loved ones come in all shapes and sizes, from the smallest of wishes to
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efforts are directed. When it comes to making your savings plans you have to ensure that you
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plans have been designed keeping this in mind and you can rest assured knowing that you
have ensured that your family gets the best that life and you can offer.
29

30. TRAINING REPORT
2013
DLF Pramerica Dhan Suraksha
We toil day in and day out so that our family can have a better tomorrow. We keep looking
for opportunities to invest our hard earned money so our loved ones can have a brighter
future. That’s why we need to plan our investments prudently so that the effort that we put in
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DLF Pramerica Assure Money +
Have you ever noticed how those little things that you do bring the greatest of joys to your
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DLF Pramerica Wealth + Premier
Your family is your world and their well-being is your biggest concern. But life is full of
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DLF Pramerica Ezee Wealth +
Life can get demanding at times and we often face our fair share of challenges - every day,
every week, every month. From toiling hard for earning money to striving even harder for
30

31. TRAINING REPORT
2013
bringing happiness to our loved ones’ lives, we often find ourselves managing a lot of things
that need our time and attention. As it is said, nothing in life comes easy. When it comes to
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DLF Pramerica Wealth + Ace
When we have a large sum of money, it is tempting to indulge ourselves with things that we
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Take a moment and think of a typical day in your life. From morning till evening, you are
caught up in a hundred things that demand your time and attention. You, in turn do your best
in managing all of these. In doing so, often the urgent gets priority over the important, and
you keep postponing essential things. For instance, buying yourself a life insurance cover.
However, when it comes to something as important as insuring your life can you afford to put
it off for later? Or excuse yourself from it simply because you don’t have time? Certainly
DLF Pramerica Wealth Assure
You constantly try to safeguard yourself and your family against the uncertainties in life.
Given the choice, you would leave nothing to chance when it comes to your fulfilling your
goals and ensuring your family’s financial security. At DLF Pramerica, we understand your
concern and while we cannot guarantee a future without surprises, we can at least help you
ensure that your family’s and your financial future remains secure.
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32. TRAINING REPORT
2013
Group Plans
DLF Pramerica Sarv Suraksha
To help you ensure a worry free future, we are pleased to bring to you
DLF Pramerica Sarv Suraksha. This extremely an affordable Group Term Insurance Plan
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DLF Pramerica Group Term Plan
A comprehensive protection plan that secures your group and their families from
uncertainties arising due to the unfortunate death of the insured person. What's more, this
plan provides enough flexibility to suit businesses of every need and scale, so that you can
take the right step today and help protect your members from the unpleasant surprises in life.
32

33. TRAINING REPORT
33
2013

34. TRAINING REPORT
2013
 RESEARCH METHODOLOGY
Title:
To determine customer-buying behaviour with a focus on market segmentation for DLF
Pramerica Life Insurance.
Title justification:
The above title is self explanatory. The study deals mainly with studying the buying pattern
in the insurance industry with a special focus on DLF Pramerica Life Insurance. The various
segments of the markets divided in terms of Insurance Needs, Age groups , Satisfaction levels
etc will also studied.
 Objective
Main Objective
• To determine reasons behind opting for an insurance.
• To provide the company with information of customer's Insurance policy if they have any
and reasons for opting for that particular policies. To know the most preferred policy
Other Objective
• To determine customers perception towards private insurance companies and their
expectation form private insurance companies.
• To determine the feedback on services provided by any other insurance agent.
• To study the types of benefits provided by insurance services.
• To determine the use of Internet for valuable information and decision-making process.
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35. TRAINING REPORT
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 Research design
• NON-PROBABILITY
• EXPLORATORY & DISCRIPTIVE EXPERIMENTAL RESEARCH
The research is primarily both exploratory as well as descriptive in nature. The sources of
information are both primary & secondary.
A well-structured questionnaire was prepared and personal interviews were conducted to
collect the customer’s perception and buying behavior, through this questionnaire.

Data collection :
After the research design, research method and Sampling procedure is decided, the
next main step is Collection of Data for related study with the help of Research Method
decided.
In this study, the research method decided is – Survey Method and Secondary Data
Collection Method.

Survey Method provides primary Data i.e., first – hand information by filling-up
the Questionnaires.

Secondary Data collected from different Brochures, books and internet
 Sampling techniques
Sampling Technique: Initially, a rough draft was prepared keeping in mind the objective of
the research. A pilot study was done in order to know the accuracy of the Questionnaire. The
final Questionnaire was arrived only after certain important changes were done. Thus my
sampling came out to be judemental and convinent
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36. TRAINING REPORT
2013
 Sampling Unit:
The respondants who were asked to fill out questionnaires are the sampling units. These
comprise of employees of MNCs, Govt. Employees, Self Employeds etc.

Sample size:
The sample size was restricted to only 100, which comprised of mainly respondents from
different regions due to time constraints.
 Scope of the study
A big boom has been witnessed in Insurance Industry in recent times. A large number of new
players have entered the market and are vying to gain market share in this rapidly improving
market. The study deals with DLF Pramerica Life in focus and the various segments that it
caters to. The study then goes on to evaluate and analyse the findings so as to present a clear
picture of trends in the Insurance sector.
 Significance of the study
 Significance to the industry
This is a limited study which takes into consideration the responses of 100 people. This data
can be explorated to take in the trends across the industry. The significance for the industry
lies in studying these trends that emerge from the study. It is a rapiddly changing and
evolving sector. People are only beginning to wake up to it’s vast possibilities. A study like
this can attempt to guide the future of the industry based on current trends.
 Significane for the researcher
To facilitate and provide all the useful informtaion of the studt, the company, the insurance
industry and also provide marketing ways, methods of DLF Pramerica Life insurance.
36

37. TRAINING REPORT

2013
.Limitations of the research
1.The research is confined to a certain parts of haryana and does not necessarily shows a
pattern applicable to all of Country
2. Some respondents were reluctant to divulge personal information which can affect the
validity of all responses.
3. In a rapidly changing industry, analysis on one day or in one segment can change very
quickly. The environmental changes are vital to be considered in order to assimilate the
findings.
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38. TRAINING REPORT
2013
 STUDY OF THE TOPIC
In a phase when Indian Insurance Industry is undergoing regulatory and policy level
changes, and the industry is looking to grow at a high rate, low insurance penetration still
remains a matter of concern for all. At this stage, it becomes important to understand and the
buying behaviour of existing customers i.e. what actually motivates them to take a
purchase decision? Evaluate the needs of potential customers in terms of what type of
product are they looking for? Identify the challenge areas in customer service that should be
dealt on a priority basis so that the levels of satisfaction of customers can be improved for
business reputation and continuation.
In the context of the above, the present study was conducted with an objective to analyze the
buying behaviour of the respondents with respect to life insurance and to explore any pattern
in this behaviour based on socio-economic and geographical parameters. The study also
aimed at evaluating the level of customer satisfaction on services of life companies and
awareness levels on various aspects of the policy held by them.
 Some of the Main findings are:

Majority of the respondents displayed a risk averse nature; they saved in low risk
and regular return instruments; Securing future of their children and meeting for
postretirement expenses was their prime motive to save; Tax saving was not in the
top three motives for savings;

Rate of return was secondary in importance and security of their savings was a major
priority while choosing instruments;

People looked for medium term instruments and had lower preference to very short
term and very long term instruments;

Around 77 percent of the respondents perceived that their present savings was not
capable of fully meeting the requirements of critical illness and prolonged
hospitalization;
38

39. TRAINING REPORT

2013
There was a predominant preference to agency channel by both current and potential
customers;

Average preference for agency as a channel among potential customers seen to be
lower when compared to existing customers;

Average preference for banks and internet seen to increase Marginally among
potential customers. Younger age group shows an inclination to usage of banking and
internet channel.

Endowment and Money back among top preference by both existing and potential
customers. However, a trend towards preference for life policy with fixed benefits
(health) by potential customers seen.

Perception on insurance as an instrument for saving seen to be very strong;

Better returns from other instruments quoted as the main reason for non-purchase of
Insurance; affordability also remains a hindrance factor for potential buyers.

Trustworthiness is the key determinant while choosing a company for purchase of life
products; existing customers also looked at Brand Name/Image;

Only one-fourth of the existing customers are fully satisfied with the overall services
of their life companies

A major proportion of the customers are ignorant of the minute details of their
policies;

Customer Grievances seen to revolve mostly around ULIP's and Policy servicing
matters;
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40. TRAINING REPORT
40
2013

41. TRAINING REPORT
2013
 DATA ANALYSIS & INTERPRETATION
1. Respondents perception about best form of investment for
securing their future
NO. OF RESPONDENT
%age
investment
FIXED assets
75
33
Bank deposits
11
5
Jewellery
25
11
Securities i.e bonds;mfs
40
17
Shares
10
4
insuarance
70
30
interpretation
• 33% of the respondents as with the view that Fixed Assets is the best form of investment for
securing their future.
• 30% of the respondents are with the perception that Insurance is the best form of
investment for securing their future, which is one of the highest and this shows that
insurance is an important key for securing your future.
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42. TRAINING REPORT
2013
2. What people intent to gain from their investment
RESPONSE
NO. OF RESPONDENCE
%age
Savings & returns
100
38
Security
90
35
Tax benefits
71
27
interpretation
• 38% of the respondents intent to gain saving and returns from their investment.
• 35% of the respondent’s intent to gain security from their investments.
• Whereas, 27% of the respondent’s intent to gain tax benefits from their investments
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43. TRAINING REPORT
2013
3.People perception about insurance
RESPONSE
NO. OF RESPONDENT
%age
A saving tool
81
32
A tax saving device
74
29
A tool to protect your family
100
39
Interpretation
• 32% of the respondents have perception of Insurance being a saving tool.
• And 29% of the respondents have perception of Insurance being a tax saving device.
• But 39% of the respondents are with the view that Insurance is a tool to protect your family
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44. TRAINING REPORT
2013
4. Peoples having insurance
RESPONSE
NO. OF RESPONDENCE
%age
YES
70
70
NO
30
30
Interpretation
•Of the sample size of 400 surveyed respondents 70% of the respondents are having
Insurance policy.
30% of the respondents are either not having any Insurance policy at present or their policy is
already matured.
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45. TRAINING REPORT
2013
5. Reasons behind for insurance
RESPONSE
NO.OF RESPONDENTS
%age
Tax saving
80
31
Saving/investment
80
31
Family protection
100
38
Interpretation
• 31% of the Respondents opted for Insurance for tax saving benefits.
• 31% of the Respondents opted for saving / Investments.
• But all of them, i.e. 38 of the respondents have opted for insurance for their family
protection
45

46. TRAINING REPORT
6.Number of insurance policy type respondents
POLICY TYPE
NO. OF RESPONDENT
%age
LIFE POLICY
75
52
NON LIFE POLICY
25
17
BOTH
45
31
Interpretation

46
52% of the respondents have Life Insurance Policy while 31% have both.
2013

47. TRAINING REPORT
2013
7. Features of insurance policy that attracted respondents
FEATURE
NO. OF RESPONDENTS
Money back guarantee
Larger risk coverance
Easy access to agents
Low premium
Compony reputation
TOTAL
15
37
7
30
11
100
%age
15
37
7
30
11
100
Interpretation

Majority of the respondent (37%) found Larger risk coverance as the most attracted
feature of the all.
47

48. TRAINING REPORT
2013
8. Benefits of insurance perceived by respondents benefits no.of
respondents share (%)
Benefits
Cover future uncertanity
Tax deduction
Future investment
Total
No of respondent
55
20
25
100
%age
55
20
25
100
Interpretation

55% of the respondents believe that covering future uncertainty is the biggest
benefit of an insurance policy.
Whereas, 20% and 25% of them believe that the other benefits are Tax deduction
and future investments respectively
48

49. TRAINING REPORT
9. Number of respondents paying tax
RESPONCE
NO. OF RESPONDENTS
%
Paying tax
Not paying tax
Total
100
0
100
100
0
100
Interpretation
Of the sample size of 400 respondents, all the respondents are paying tax
10.Respondent’s investments for tax saving
INVESTMENT
NO. OF RESPONDENTS
%age
LIC
51
30
NSC
33
19
BONDS
32
19
PPF
25
14
PF
21
12
49
2013

50. TRAINING REPORT
11
EPF
2013
6
Interpretation
• 30% of the respondents save their tax by investing in LIC, which is the highest among all
Investment. This shows that most people for getting taxes benefits invest in LIC.
• 19% of the respondents do their tax saving by investing in NSC.
•19% of the respondents to their tax saving by investing in bonds
11.PREFERENCE OF RESPONDENTS OF INSURANCE COMPANIES
COMPANY NAME
NO OF
RESPONDENT
%age
LIC
78
78
DLF
2
2
ICICI
10
10
SBI
7
7
RELIANCE
TOTAL
3
3
50
100
100

51. TRAINING REPORT
2013
RELIANCE
SBI
SHARES%
ICICI
NO OF RESPONDENT
DLF
LIC
0
20
40
60
80
INTERPRETATION
 78% of the people contacted prefer LIC policy to any other and therefore it is
ranked no.1 by that percent of respondents.
12. People opinion about indian insurance companies
RESPONSE
NO. OF RESPONDENTS
%age
Rigid plans
67
35
Non user friendly
29
15
Unsatisfactory services
26
14
Non aggressive
35
18
Satisfactory
24
13
Good
10
5
Very good
0
0
51

52. TRAINING REPORT
2013
interpretation
• 35% of the respondents have the opinion that Indian Insurance Companies have Rigid plans.
• 15% feel that Indian Insurance companies are Non-user friendly.
• 14% feel that services of Indian Insurance companies are Unsatisfactory.
• 18% of the respondents are with the view that Indian Insurance companies are
Nonaggressive.
• 13% of the respondents feel that products and services of Indian Insurance companies is
Satisfactory.
• Whereas only 5% feel that it is Good enough.
• And according to the data, no single person has felt that it is very good
52

53. TRAINING REPORT
2013
13.people interested in going for insurance if a service provider
away from the city offers better service & products
RESPONSE
NO. OF RESPONDENTS
%age
Yes
43
43
No
44
44
Uncertain
13
13
Total
100
100
interpretation
• The interested customers i.e. 43% are ready to go for insurance even away from a
city if services and products are worthwhile, which again is a good prospect
(potential) for Reliance Life Insurance to take them on their favor.
53

54. TRAINING REPORT
2013
14. People’s perception on appropriate age for buying insurance
RESPONSE
NO. OF RESPONDENTS
%age
After 25yrs
29
29
After 35yrs
10
10
After 45yrs
0
0
Anytime
60
60
interpretation
• 29% of the respondents are with the view that insurance should be bought after the age of
25 years.
• 10.5% of the respondents are with the view that insurance should be buyed after the age of
35 years.
• Whereas, 60.5% of the respondents are with the view that buying of insurance do
not have any thing to do with age i.e. there is no age limitations. It can be purchased
any time
54

55. TRAINING REPORT
15.Satisfaction of respondents with respect to policy
RESPONCE
NO. OF RESPONDENTS
%age
Satisfied
60
60
Not satisfied
40
40
Not responded
0
0
Total
100
100
interpretation
• 60% of the respondents are more or less satisfied with their existing policy.
• 40% of the respondents are not satisfied with their existing policy.
• In this case all of those who have taken a policy have responded.
55
2013

56. TRAINING REPORT
2013
16.Satisfaction of +respondents with respect to service agent
RESPONCE
NO. OF RESPONDENTS
%age
Satisfied
45
45
Not satisfied
55
55
Not respondent
0
0
Total
100
100
interpretation
• 45% of the respondents are satisfied with their existing service agent.
• 55% of the respondents are not satisfied with their existing insurance agent.
• All of those who have taken a policy have responded
56

57. TRAINING REPORT

2013
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 its branch in delhi. 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 DLF PRAMERICA 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 customer 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
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58. TRAINING REPORT
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 CONCLUSION
Our exhaustive research in the field of Life Insurance threw up some intresting trends which
can be seen in the above analysis. A general impression that we gathered during Data
collection was the immense awareness and knowledge among people about various
companies and their insurance products. People are beginning to look beyond LIC for their
insurance needs and are willing to trust private players with their hard earned money.
People in general have been impressioned by the marketing and advertising campaigns of
insurance companies. A high penetration of print , radio and Television ad campaigns over
the years is beginning to have it’s impact now.
Another heartning trend was in terms of people viewing insurance as a tax saving and
investment instrument as much as a protective one. A very high number of respondants have
opted for insurance for such purposes and it shows how insurance companies ahve been
successful to attract public money in recent times.
The general satisfaction levels among public with regards to policy and agents still requires
improvement. But therein lies the oppurtunity for a relative new comer like
DLF PRAMERICA Life Insurance Company Ltd . LIC has never been known for prompt
service or customer oriented methods and DLF PRAMERICA Life can build on these factors.
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59. TRAINING REPORT
2013
 Policy Implication
Based on this study, a few suggestions for the life insurance industry in India regarding their
policy pricing strategies can be made. The price level should be well within the affordability
level of the customer. Flexibility and convenience of terms of payment must be followed as
per the requirements of the potential customer. The life insurance companies must ensure that
the price of the policy should not exceed its worth as anticipated by the buyer. Again, a
transparent comparison with the price levels of similar policies provided by the rival
companies should be made before the prospective buyers. A clear and simple price structure
should be provided by the selling companies to the customer that can be understood easily by
a lay man. Further, discounts and incentives should be included in the pricing structure in
order to attract buyers. There should not be any hidden cost which is most rampant in India.
Now, almost all the life insurance companies are inching towards a low-premium policy era
making the poorer rural sections eligible to possess the most elusive life insurance cover.
They are providing the costs and benefits of the policies and proper justification for the
relevant pricing. They are renovating the products to become worthy of their buying price.
They are also adding lot of add-on benefits to the products to attract the recession-hit cashstrapped customers. Life insurance policy pricing strategy adopted by the insurers must
incorporate the customers‟ expectations along with their apprehensions in order to influence
their buying behaviour.
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60. TRAINING REPORT
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 SUGGESTIONS
.
 There is a very good market for Insurance companies in India, companies must have
to spent money on Marketing Strategies.
 The survey show’s less than 20% have their Insurance policy, more than 80% persons
don’t have a Insurance policy. This show’s a good opportunity for Insurance.
 Companies must have to open their branches in every city and gives complete
information about company and company schemes.
 Companies must have to convince the persons that, this is not a fraud company.
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61. TRAINING REPORT
 BIBLIOGRAPHY
1. BOOKS/MAGAZINES REFFERED:

STUDY GUIDE- PRINCILES & PRACTICES OF LIFE /
GENERALINSURANCE,by AIMA.

Books published by INSURANCE INSTITUTE OF INDIA

LIFE-INSURANCE, by Mc GILL

INSURANCEWATCH.

MONEYOUTLOOK.
2. WEBSITES REFFERED:

WWW.CIFAINSURANCE.COM

WWW.MONEYOUTLOOK.COM

WWW.INSURANCE.IND.COM

WWW.dlfpramericalifeinsuarance.COM
o3. REPORTS/ARTICLES REFFERED:

REPORT: ISSUES & CHALLENGES FACING THE INSURANCE
INDUSTRY….Dec2005.

BRIEF PROFILE OF LIC, INDIA…Dec 2006.

REPORT: COPING WITH COMPETITION…Jan2007
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62. TRAINING REPORT
 APPENDIX
 QUESTIONNAIRE
QUESTIONNAIRE
1. ARE YOU EMPLOYED?
YES
NO
If YES, only then proceed
2. YOUR MONTHLY INCOME?
a)<4k
b)4k-8k
c)8k-12k
d)12k-16k
e)Other_____(Specify
3. WHICH IS THE BEST FORM OF INVESTMENTS?
(RANK THEM)
a) FIXED ASSETS
b) BANK DEPOSITS
c) JEWELLERY
d) SECURITIES, i.e. Bonds, MFs
e) SHARES
f) INSURANCE
4. DO YOU HAVE ANY INSURANCE POLICY?
YES
NO
5. WHICH INSURANCE POLICY DO YOU HAVE?
LIFE
NON-LIFE
BOTH
6. WHICH CO’S INSURANCE POLICY YOU PREFER THE MOST?
(RANK THEM)
a) LIC
b) ICICIPRUDENTIAL
c) SBI LIFE INSURANCE
d) ING VYSYA LIFE
e) RELIANCE LIFE INSURANCE
f) DLF Pramerica
g) ANY OTHER ________( Specify)
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2013

63. TRAINING REPORT
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7. FOR HOW MANY YEARS DO YOU HAVE INSURANCE POLICY? (Please Tick)
a) <5Yrs
b) 5-10 Yrs
c) 10-15 Yrs
d) Any Other______
(Specify)
8. WHICH FEATURE OF YOUR POLICY ATTRACTED YOU TO BUY IT?
(RANK THEM)
a) LOW PREMIUM
b) LARGER RISK COVERANCE
c) MONEY BACK GUARNTEE
d) REPUTATION OF COMPANY
e) EASY ACCESS TO AGENTS
f) ANY OTHER _________ (Specify)
9. WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE COVER?
(RANK THEM)
a) COVER FUTURE UNCERTAINITY
b) TAX DEDUCTIONS
c) FUTURE INVESTMENT
d) ANY OTHER _________ (Specify
10. WHAT’S YOUR PERCEPTION ABOUT INSURANCE?
(RANK THEM)
a) A SAVING TOOL
b) A TAX SAVING DEVICE
c) A TOOL TO PROTECT FUTURE
11. DO YOU PAY TAXES?
YES
NO
12. WHERE HAVE YOU INVESTED FOR TAX SAVING?
(RANK THEM)
a) LIC
b) NSC
c) BONDS
d) PPF
e) PF
f) EPF
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64. TRAINING REPORT
2013
13. WHAT’S THE RIGHT AGE TO BUY INSURANCE?
a) AFTER 25 Yrs
b) AFTER 35 Yrs
c) AFTER 45 Yrs
d) ANYTIME
14.HOW WOULD YOU RATE INDIAN INSURANCE COs?
a) RIGID PLANS
b) NON-USER FRIENDLY
c) UNSATISFATORY SREVICES
d) NON-AGGRESSIVE
e) SATISFACTORY
f) GOOD
g) VERY GOOD
15. WOULD YOU GO FOR INSURANCE IF A SERVICE PROVIDER AWAY FROM
THE CITY OFFERS BETTER SERVICE & PRODUCTS?
a) YES
b) NO
c) UNCERTAIN
16. ARE YOU SATISFIED WITH THE POLICY?
a) SATISFIED SAVING TOOL
b) NOT SATISFIED
c) NOT RESPONDING
17. ARE YOU SATISFIED WITH THE SERVICE AGENT?
a) SATISFIED SAVING TOOL
b) NOT SATISFIED
c) NOT RESPONDING
THANK YOU
NAME:_________________________
ADDRESS:______________________
______________________________
OCCUPATION:__________________
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65. TRAINING REPORT
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2013