reliance life compleate project(mkt)

8/7/2019 RELIANCE LIFE COMPLEATE PROJECT(mkt)

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ANIL DHIRUBHAI AMBANI GROUP

OF

RELIANCE LIFE INSURANCE

AMONG THE OTHER INSURANCE

PROVIDER

IN BHUBANESWAR MARKET

BY

MANJEET KUMAR (PGDM 07-09)

REGIONAL COLLEGE OF MANAGEMENT

CONTENTS

RELIANCE LIFE INSURANCE COMPANY LIMITED




1.ACKNOWLEDGEMENT

2.OBJECTIVE

3.SCOPE OF STUDY

4.SUMMARY

5.INTRODUCTION(COMPANY PROFILE)

6.PLANS AND POLICY

7.MAIN BODY

8.METHODOLOGY

9.DATA ANALYSIS

10.CONCLUSION

11.RECOMENDATION





ACKNOWLEDGEMENT

I would also like to express my deep sense of gratitude to Mr.

Jyotisman Jena of Reliance life Insurance, who has given me this

opportunity to make myself acquainted with the professional

atmosphere of the enterprise.

At last but not the least I am also thankful to the staff members of M/s

Reliance Life Insurance Limited, Cuttak, who have extended their

helping hands for the successful completion of my project work.

Place: Bhubaneswar Manjeet kumar

Date: 16-08-2008 (Signature)





OBJECTIVES





Objectives of the study:

As the whole activity was concentrated on the partial fulfillment of my PGDM course

as well as some real contribution from me towards this esteemed organization, in

my opinion the objectives of the study are as follows :

To determine the “Market Share of Reliance Life Insurance along with

other Insurance provider in Bhubaneswar market”.

To find the level of satisfaction in customer mind.

To determine the stimuli that guide the consumers towards enjoying the RLI

service.

The organization in my view in its attempt to reach to the channel partners

has given me this responsibility.

As an individual had accepted this study because of its feature of getting

interacted at the grassroots level of business.





SCOPE OF THE STUDY





The geographical jurisdiction of the research study in the city of

Bhubaneswar. The data were collected the middle class , upper middle

class, higher income group people. The research study in concerned

with Market Share of RLI among the other Insurance Provider in

the Bhubaneswar market to other leading Insurance Provideravailable in the present market scenario.

Lastly all the recommendations are based on the analysis of the

respondents opinion which were collected through carefully planned

questionnaires.





SSUMMARYUMMARY

The fundamental concepts, which lead to the strategic thinking and policy

formulation in any, corporate what so ever can be any and if not all of the entities

as motioned in the following line.

• The Company

• Growth and sustaining of Insurance provider

• Challenges of competition and overcoming them

• New growth areas

• Focus on ultimate sales

• Consideration of competitors

• Deeper commitment to a major segment of the local market

• Strategic alliances.

The list above is not to be misunderstood to be the ultimate list as the entities are

numerous and entirely dependent on the variable factors like the time, competitors

and the situation in the market as a whole.

The study was undertaken in and nearby areas of the city of Bhubaneswar to know

“Market Penetration of Reliance life insurance among the other Insurance Provider

in the Bhubaneswar Market”. from the house of Reliance Capital Limited. The

several features of this report can be summarized in the following paragraphs.

• The figures appendices etc used in the report are mentioned page wise in

the section titled as list of figures charts and appendices.

• The objective and background on which the project work and the relative

activities are undertaken are outlined in the introduction section.

• Various information regarding RIM of Reliance Industries Limited like;

o The Back ground and history of the Company





o The information regarding its service facilities

o Outlined in the Company Profile section

• The section named Main Body is the prime section of the report where

just everything in terms of

Concepts behind the report title

Has been describe in a illustrative manner

• The Suggestions derived from the findings and analyses have been

outlined in the Recommendations section.

• The conclusion section is the end mark of the report, which contains

the remark or the comment on the whole activities and these are

generally derived from the comments of the interviewee and

represented in the current business environmental language.

• The bibliography section contains a details list of books articles etc.

used for giving the report a complete shape in terms of thesis of

reference note for future purpose.

• The appendices section serves as the annexure and contains a sample

of the questionnaires used for the purpose of interview with the

customers.





Company Profile

Reliance Capital Ltd is a part of the Reliance - Anil Dhirubhai Ambani Group, and isranked among the 20 most valuable private companies in India.

Reliance Capital is one of India's leading and fastest growing private sector financialservices companies, and ranks among the top 3 private sector financial servicesand banking groups, in terms of net worth.

Allsec has since replicated this successful Client Account Plan across a list of otherglobal outsourcers, a list that includes, among others,

Reliance Capital has interests in asset management and mutual funds, life andgeneral insurance, private equity and proprietary investments, stock broking,depository services, distribution of financial products, consumer finance and otheractivities in financial services.

The Reliance Anil Dhirubhai Ambani Group is one of India's top 2 business houses,and has a market capitalization of over Rs.2,25,000 crore (US$ 53 billion), net worthin excess of Rs.58,000 crore (US$ 14 billion), cash flows of Rs. 12,000 crore (US$ 3billion) and net profit of Rs. 8,000 crore (US$ 2 billion).

Reliance Capital has interests in asset management and mutual funds, life andgeneral insurance, private equity and proprietary investments, stock broking,depository services, distribution of financial products, consumer finance and otheractivities in financial services.

Reliance Mutual Fund is India's no.1 Mutual Fund. Reliance Life Insurance is India'sfastest growing life insurance company and among the top 4 private sector insurers.Reliance General Insurance is India's fastest growing general insurance companyand the top 3 private sector insurers. Reliance Money is the largest brokerage anddistributor of financial products in India with more than 2.5 million customers andthe largest distribution network. Reliance Consumer finance has a loan book of overRs. 8,000 crores at the end of June 2008.

Reliance Capital has a networth of Rs.6,862 crores (US$ 1.6 billion) and total assetsof Rs. 19,940 crores (US$ 4.6 billion) as of June 30, 2008 and over 26,000

employees.

Reliance Capital Ltd.'s Code of Ethics is in alignment with its values andcommitments. The Essence of this code is that each employee should conduct theCompany's business in a way That upholds its values and commitments. This codeexpects every employee to conduct business with integrity, in compliance withApplicable laws, and in a manner that excludes consideration of direct or indirectpersonal Advantage / gains. It is the individual responsibility of each one of RelianceCapital Ltd.'s





Employees to ensure that all of us are aware of these values, commitments, andprocedures, and behave in accordance with the spirit as well as the letter of thiscode.Reliance Capital Ltd. recognizes that it is vital that the behaviour of its employeesmatches the high intentions and values. Hence, adherence to all the elements of this code and the accompanying principles and procedures is necessary. The

principles and procedures in this Code of Ethics apply to all material transactions,large or small, and describe the conductexpected of every Reliance Capital Ltd employee.

Conflict of InterestPayments and GiftingReceipt of GiftsPurchases through suppliers and other service providersRegarding full-time consultants, agents, representatives and othersPolitical Contributions

Products & Services

Reliance Mutual Fund (RMF), a part of the Reliance - Anil Dhirubhai Ambani Group, isIndia's leading Mutual Fund, with average Assets Under Management of Rs. 90,813crores for the month of June 2008, and an investor base of over 6.7 million.

Reliance Mutual Fund offers investors a well rounded portfolio of products to meetvarying investor requirements. Reliance Mutual Fund has a presence in 300 citiesacross the country and constantly endeavors to launch innovative products andcustomer service initiatives to increase value to investors. Reliance Mutual Fundschemes are managed by Reliance Capital Asset Management Ltd., a wholly ownedsubsidiary of Reliance Capital Ltd.

Reliance General Insurance, a part of the Reliance Anil Dhirubhai Ambani Group anda subsidiary of Reliance Capital, is one of the first non-life companies to get thelicense from the IRDA. Reliance General Insurance is India's fastest growing generalinsurance company and the top 3 private sector insurers.

Reliance General Insurance has 225 branches across 171 cities and over 21,000intermediaries.

Reliance General Insurance offers an exhaustive range of insurance products thatcovers most risks including Auto, Health, Home, Property, Travel, Marine andCommercial.

Reliance Life Insurance, a part of the Reliance Anil Dhirubhai Ambani Group isIndia's fastest growing life insurance company and among the top 4 private sectorlife insurers.

Reliance Life Insurance has a pan India presence and a range of products cateringto individual as well as corporate needs. Reliance Life Insurance has over 750branches and 200,000 agents.





It offers 27 products covering savings, protection & investment requirements.

Reliance Life Insurance will endeavor to attain a leadership position in the marketover the next few years, by further expanding and strengthening its distributionnetwork and offering a diverse array of products to suit the varied and specific

needs of individual customers

Reliance Money, a part of the Reliance Anil Dhirubhai Ambani Group is India’slargest brokerage and distributor of financial products.

Reliance Money commenced commercial operations in April 2007 and has over 2.5million customers and 9,700 outlets in more than 5,000 locations across India.

Reliance Money is a comprehensive electronic transaction platform offering a widerange of asset classes. Its endeavor is to change the way India transacts in financialmarkets and avails financial services. Reliance Money is a single window, enablingyou to access, amongst others in Equities, Equity & Commodities Derivatives,

Mutual Funds, IPOs, Life & General Insurance products, Offshore Investments,Money Transfer, Money Changing and Credit Cards.

Reliance Consumer Finance marks the entry of Reliance Capital Ltd. into theexpanding consumer finance segment. With a wide range of products whichincludes Personal loans, Vehicle loans (car and commercial), Home Loans , LoanAgainst Property and SME loans, this division strengthens the presence of RelianceCapital Ltd. in the retail finance segment . The primary focus of Reliance ConsumerFinance is to build a quality loan portfolio and it has set up a risk managementframework to achieve this.

Reliance Asset Reconstruction Company is a premier asset reconstruction company,

the principal sponsor / shareholder of which is the Reliance ADA group (throughReliance Capital Limited). The other sponsors / shareholders are Corporation Bank,Indian Bank, GIC of India, Dacecroft and Blue Ridge.

Reliance Asset Reconstruction aspires to be the leading player in a healthy androbust financial market place targeted at economically beneficial resolution of NPAsand thereby contribute to the growth and development of the economy.

Historic Events / Press Room

Reliance Money joins hands with Chellarams to enter Nigeria

Reliance Money in Wealth Management Services

Reliance Money ties up with NDTV Profit

Reliance MF introduces insurance for 10 equity funds

Reliance Money enters HK, China





Reliance Money ties up with Sify Technologies

Parsoli, RMoney launch scheme to ture Muslim investors

Reliance MF first to cross Rs 1lakh cr AUM mark

Reliance Money ties up with Triveni Group's retail chain

ADAG, BSE tie up for bullion trade

Reliance Money launches loyalty card for customers

RMoney, Recognia to offer chart patterns for retail broking customers

Reliance Money bags IT award

Reliance MF top gainers in February

Reliance Capital forays into microfinance

Rel Money launches portfolio scheme

Reliance Money takes gold to massages

RCom to focus on sports related sponserships

Reliance group scrips help NSE score record turnover

Anil Ambani returns as No 2 billionaire

RCom enters Mobile-based remittance

Reliance Money, Motilal Oswal top broking firms





Being a parent is one of the joys of life. Your child looks up to you and depends on you for love,protection and support. You want to provide your child with the best in life.

The Reliance Child Plan helps you save systematically so that you can secure your child’sfuture needs. Be it higher education, his or her first home or any other requirement, you willalways be there for your child when he or she needs you.

So, invest in a Reliance Child Plan right away—it is the best gift you could ever give your child.

Protection Plans

Reliance Term PlanInvest in the Reliance Term Plan, a pure life insurance plan that offers youcomprehensive and affordable coverage for a limited period of time to suit your needs.

Reliance Simple Term PlanMake a smart investment move by investing in the cost-effective RelianceSimple Term Plan, which offers you comprehensive coverage for a specifiedperiod of time to suit your needs.

Reliance Special Term PlanImagine a life insurance policy, which on maturity returns to you all thepremiums you had paid for your basic policy. The Reliance Special Term Planoffers that and much more.

Reliance Credit Guardian PlanThe Reliance Credit Guardian Plan secures your family from any loan liabilitiesyou have incurred in case of your untimely demise. On survival at maturity, youwill be returned all the premiums paid for the basic policy.

Reliance Special Credit Guardian PlanInvest in the Reliance Special Credit Guardian Plan and protect your family fromany loan liabilities you have incurred. On survival at maturity, all premiums paidfor the basic policy will be returned to you.

Reliance Endowment PlanThe Reliance Endowment Plan gives you financial independence by allowingyou to decide the amount of Sum Assured based on your current financialposition and expected future expensesâ€¦ Dream!!.





Reliance Special Endowment PlanImagine an endowment plan that protects you for a certain period even after youhave received your lump sumâ€”that is exactly what the Reliance Special

Endowment Plan offers you with other added benefits.

Reliance Connect 2 LifeThe Reliance Connect 2 Life Plan gives you the option to upgrade your lifecover to keep pace with your changing lifestyle. As your income grows, your family will have sufficient cover.

Reliance Whole Life PlanGive your family a lifetime of timely financial support by investing in the Reliance

Whole Life Plan. This will help you enjoy your life to the fullest.

Reliance Wealth + Health PlanInvest in the Reliance Wealth Health Plan and balance your health needs andwealth needs, without compromising on either health or wealth.





Reliance Cash Flow PlanInvest in the Reliance Cash Flow Plan and reap the dual benefits of a lifeinsurance plan and easy liquidity through lump sum cash, which means you canget a percentage of the Sum Assured at periodic intervals.

Savings & Investment Plans

Reliance Super Invest Assure PlanReliance Super InvestAssure is a complete plan which addresses your vitalneeds like Flexibility, Security, Investment Return and Financial Planning.With all its key benefits, it is here to ensure that there will always be morethan you can ask for!...

Total Investment Plan I - InsuranceReliance TIPS -Series I- Insurance is a Unit Linked Investment + InsurancePlan that helps you meet all your financial needs, without the complexity of

managing multiple products...

Reliance Wealth + Health PlanInvest in the Reliance Wealth Health Plan and balance your health needsand wealth needs, without compromising on either health or wealth...

Reliance Automatic Investment PlanThe Reliance Automatic Investment Plan is an enhanced unit linked planthat allows you to choose the right investment mix to reap maximum

benefits. It also provides you with enhanced Life Cover...

Reliance Money Guarantee PlanTo reap the benefits of a rising market and to protect yourself from anymarket decline, invest in the unit linked Reliance Money Guarantee plan thatgives you the perfect balance between Protection and Savings...

Reliance Cash Flow PlanInvest in the Reliance Cash Flow Plan and reap the dual benefits of a life

insurance plan and easy liquidity through lump sum cash, which means youcan get a percentage of the Sum Assured at periodic intervals...

Reliance Market Return PlanThe Reliance Market Return Plan gives you insurance protection and allowsyou to benefit from investment growth. It works through your life and meetsthe changing requirements you may have from time to time...





Reliance Endowment PlanThe Reliance Endowment Plan gives you financial independence byallowing you to decide the amount of Sum Assured based on your current

financial position and expected future expenses...

Reliance Special Endowment PlanImagine an endowment plan that protects you for a certain period even after you have received your lump sumâ€”that is exactly what the RelianceSpecial Endowment Plan offers you with other added benefits...

Reliance Whole Life PlanGive your family a lifetime of timely financial support by investing in the

Reliance Whole Life Plan. This will help you enjoy your life to the fullest...

Reliance Golden Years PlanThe Reliance Golden Years Plan helps you save systematically andgenerate the much-needed corpus to help you enjoy life after retirement...

Reliance Golden Years Plan ValueRealise all your dreams of playing golf, or going for a world tour after retirement by investing in the Reliance Golden Years Plan Value, which

helps you generate the amount you will need for the future...

Reliance GoldenYears Plan PlusInvest in the special Reliance Golden Years Plan Plus that not only helpsyou build the corpus you need after, but also collects a basic minimumamount in case something were to happen before you realise your dreams...

Reliance Connect 2 Life PlanThe Reliance Connect 2 Life Plan gives you the option to upgrade your life

cover to keep pace with your changing lifestyle. As your income grows, your family will have sufficient cover...

Retirement Plans





Total Investment Plan II - PensionWhen you invest in the Reliance Total Investment Plan, you give yourself theassurance that you will make each one of your dreams come true!...

Reliance Golden Years PlanThe Reliance Golden Years Plan helps you save systematically andgenerate the much-needed corpus to help you enjoy life after retirement...

Reliance Golden Years Plan ValueRealise all your dreams of playing golf, or going for a world tour after retirement by investing in the Reliance Golden Years Plan Value, whichhelps you generate the amount you will need for the future...

Reliance Golden Years Plan PlusInvest in the special Reliance Golden Years Plan Plus that not only helpsyou build the corpus you need after, but also collects a basic minimumamount in case something were to happen before you realise your dreams...


Reliance Automatic Investment PlanThe Reliance Automatic Investment Plan is an enhanced unit linked plan thatallows you to choose the right investment mix to reap maximum benefits. Italso provides you with enhanced Life Cover...

Reliance Money Guarantee PlanTo reap the benefits of a rising market and to protect yourself from anymarket decline, invest in the unit linked Reliance Money Guarantee plan thatgives you the perfect balance between Protection and Savings...

Child Plans

Reliance Super InvestAssure PlanReliance Super InvestAssure is a complete plan which addresses your vitalneeds like Flexibility, Security, Investment Return and Financial Planning.





With all its key benefits, it is here to ensure that there will always be morethan you can ask for!...

Reliance Child PlanSave systematically and secure the financial future of your child by investingin the Reliance Child Plan and let your child enjoy today without worryingabout tomorrow...

Reliance Secure Child PlanReliance Life Insurance presents a unit linked insurance plan that securesyour childâ€™s financial future, leaving you free from worry ...






MARKET PENETRATION

Reliance Life Insurance plans to open 20 branches in Punjab in the current fiscal.CEO of the company, P Nandgopal launching the new offering 'Express Life', claimedto be the offering is the fastest way of getting a life insurance cover. Talking to FEon the sidelines of the launch he said that the company had high expectations fromPunjab, the state which has a vibrant economy. He said that each of the 19 districtsof the state will have atleast one branch.

Nandgopal said that the insurance industry is a Rs 75,000 crore industry and therewas room for the players in this market. He agreed that Reliance Life Insurance wasa relatively new entrant in the market but added that it was ranged fifth among allthe private sector insurance players.

He claimed that the growth of Reliance Life Insurance during August 2007 overAugust 2006 was 358% as against industry growth of about 30%. The company hadseven per cent share of the life insurance market, he claimed. He said that ininsurance penetration, India would beat China by 2010

LIC and Reliance Life Long Good HealthInsurance Sales

Health is wealth - and that's certainly the case for Indian life insurers. Nearly 40days after their entry into the long-term unit-linked health insurance business, thetwo life insurers - Life Insurance Corporation of India (LIC) and Reliance LifeInsurance Company Limited - have been logging good business.

The Asian insurance giant LIC averages around 1,200 policies per day.

"We have earned around Rs.520 million till date. We are confident of closing thisyear with a premium of Rs.4 billion from our unit-linked long-term health insurancepolicy Health Plus," D.D. Singh, executive director (Health), LIC, told IANS.

According to him, LIC has sold 50,000 policies till date at an average premium of around Rs.10,000 per policy.

Given the poor penetration of health insurance products achieved by the 13 non-lifeinsurers in India, LIC's achievement is quite commendable.

Pleased with the positive response received from LIC's strong agency force for theproduct, Singh said, "Our agents have understood this product well and that isreflected in the sales numbers."





However the process of selling this product is different from selling other lifeinsurance policies.

Talking about his experience in selling Health Plus, A. Suresh Kumar Oza, an LICagent, said, "It takes more time to educate a prospect on the policy features and

how it works. They are more conversant with the traditional mediclaim insurancesold by non-life insurers."

"Long-term unit-linked health insurance cannot be sold as easily as any other unit-linked life insurance policy or traditional endowment or money back policies as a taxsaving product," he added.

That apart, the necessity of submitting photographs for the issuance of identitycards and medical reports delay enrolment in the scheme.

A combination of all these factors plus the absence of clarity on the income taxrebate available under Health Plus perhaps made LIC to revise its target to a Rs.4

billion premium from an ambitious Rs.50 billion for this fiscal.

Confident of achieving the revised target, Singh said, "Normally LIC experiencesaccelerated sales after the second week of March. We will book Rs.3.5 billionpremium with Health Plus."

Speaking about Reliance Life's experience in selling its Reliance Wealth + HealthPlan, its CEO P. Nandagopal said, "The retail response is very, encouraging,especially from the southern markets. The average premium per policy isRs.15,000."

Reliance Life launched the policy soon after LIC came out with its health product.

Declining to give any sales numbers and the target for the year, he said, "We do notbelieve in having product-wise business targets as we encourage our agents toadopt a solution oriented approach."

Queried about the training given to the company's 160,000 agents, Nandagopalsaid, "All our sales force has been fully trained with audio visual aids to pitchproperly. The retail response is very encouraging, especially from the southernmarkets."

Reliance Life used tools like video tutorials, multi-media messaging service (MMS)audio clips and weekly refresher programmes to drive home the salient features of the product to its field force.

Reliance Capital to infuse Rs 1500 crore by 2010.

Anil Dhirubhai Ambani Group-owned Reliance Capital will be infusing Rs 1,500 crorein Reliance Life Insurance Company, its 100 per cent life insurance subsidiary, by2010. The current capital base of Reliance Life Insurance is Rs 900 crore.





“This year, we have grown by 160 per cent and are targeting to grow by 200 percent for the remaining year. Last year, we did a business of Rs 930 crore, which wehave already crossed a few days ago. Currently, we are in 500 cities and towns andplan to be present in 1,000 cities by the next year,” said P Nandagopal, thepresident and CEO of Reliance Life Insurance.

The company has plans to increase the number of branches from the present 600 to740 by the next month.

The company has four unit-linked insurance plans (Ulips), which are the growthdrivers, contributing 90 per cent to the new business premium, while the remaining10 per cent of the business comes from six traditional insurance products. Thecompany was considering introducing health insurance products, informedNandagopal.

Reliance Life launched another Ulip today called Reliance Secure Child Plan. In caseof total and permanent disability of a child due to an accident, Reliance Secure

Child Plan will provide fixed income at a rate of 10 per cent of the sum insured eachyear to the child throughout its life.

Reliance Life has a tie-up with 15 cooperative banks and 70 corporate agents thatcontribute 10 per cent to the new business premium, while the remaining 85 percent comes from 1.4 lakh agents.

The funds under management of the company are Rs 2,500 crore, of which 65 percent are in equities.

Reliance Life Insurance has increased its market share from 4.07 per cent in Marchto 6.25 per cent in September. Last month, the company launched Express Life,

where it issues Ulips over the counter.





METHODOLOGY

It includes the response of customer towards the RLI among the other Insurance

providers in Bhubaneswar Market.

WORK AT THE MARKET

1. To know the best plans of the other Insurance Providers.

2. To know how many people are aware about RLI and its product.

3. Are the people are realy satisfy from the Insurance policy which they

possess.

WORK AT CUSTOMER POINT





1. Make the customer aware about the products.

2. Make the customer aware about the services of RLI.

3. Trying to know what is the expectation of customer.

4. Is RLI is able to reach upto the mark of the customer satisfaction.

DATA COLLECTION TECHNIQUE

1. Questionnaire.

2. Observation.

3. Secondary data from Internet & Newspaper.





DATA ANALYSIS

This is the market situation before the year 1999, of the insurance market. People

prefer LIC because it is a government authorized company. So that they trust it the

most.

But today’s scenario has been changed people are going for more return not giving

the priority to security. They use to do insurance policy just to get more return notfor that their funds are secured .

As the total face of insurance sector has been changed its now a days termed as

WEALTH CREATION WITH SECURITY.

The picture below shows the face of insurance sector before 1999.





THIS PICTURE SHOWS THAT

INSURANCE SECTOR IS TOTALLY DOMINATED

BY LIC (LIFE INSURANCE CORPORATION OF

INDIA).

THE PRIVATE SECTOR COMPANIES NOT

HAVE ENOUGH OPPOURTUNITIES IN THE

INSURANCE MARKET OF INDIA.

There after when SEBI is came into existence

and it has got the power to regulate the

insurance companies that no any company

basically the private firms are not able to walk away from the market then the

whole scenario of insurance sector has been changed dramatically.

THIS IS THE MARKET SCENARIO OF THE INSURANCE

SECTOR NOW AS FIND BY THE MARKET SERVEY.

NOW PEOPLE ARE GOING FOR BETTER RETURN NOT

FOR MUCH SECURITY BECAUSE THEY HAVE FULL

FAITH ON SEBI.

NAME OFCOMPANY

ALREADY EXIST SATISFACTIONLEVEL

RELIANCE LIFEINSURANCE 40 VERY SATISFBAJAJ ALLIANZ 50 SATISFIEDICICI PRUDENTIAL 57 SATISFIEDHDFC STANDARDLIFE

49 NOT SATISFI

MAX NEW YORK LIFE

64 SATISFIED

SBI LIFEINSURANCE

34 VERY SATISF

AVIVA LIFEINSURANCE

43 SATISFIED

METLIFE 36 VERY SATISF





CONCLUSION

After undergone a rigorous market survey on the topic of “Market Penetration of

Reliance Life Insurance among the other Insurance Provider in the

Bhubaneswar Market”. The following are the Concluded parts:

1. The lunching of Reliance life Insurance service is a right move and the

customers are very satisfied by enjoying the service.

2. RIM is not only serving the wide range of costumer in the bhubaneswar

market some other insurance providers are also in the market but due to

the service of RLI it is highly accepted in the market.





3. Another successive move is that it offers its service from the lower class to

the upper class people.





RECOMENDATION

1. To focus on the competitors plan and policies.

2. May have the network in rural and semi urban areas.

3. The icon of test & picture should be clear.

4. To advertise in the rural and semi urban areas of the city &

give the facility of advisor at the rural and semi urban areas.

5. To reduce the minimum premium of the policies.

6. To increase the facility of the product.

7. To provide the facility of a collector in the region.

8. The bond paper should be dispatched to the customer within

seven days.

9. There should be a call for the verification of the bond paper

from the corporate office of the company.


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