267865648 reliance general insurane

8/17/2019 267865648 Reliance General Insurane

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AProject Study Report

On

“To Compare the products of Reliance GeneralInsurance and Bajaj Allianz Insurance

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Company Profile:

Reliance Commercial Corporation

In 1962, DhirubhaiAmbani started the Reliance Commercial Corporation with

the capital of Rs 15000. he primar! business of Reliance "ommercial "orporation

was to import pol!ester !arn and e#port spices. he business was setup in partnership

with "hampa$lalDamani, his second cousin. In1965 "hampa$lalDamani and

Dhirubhai ended their partnership and Dhirubhai started on his own. In196%, he

mo&ed to an up mar$et apartment at Alta mount Road in 'outh (umbai.Ambani)s net

worth was estimated at about Rs. 10 la$h b! late 1960s.

Initial Public Offering

DhirubhaiAmbani is credited with startin* the e+uit! cult in India. (ore than

5%,000 in&estors from &arious parts of India subscribed to Reliance)s IPO’s in 19.

Reliance Industries holds distinction that it is the onl! private sector company

whose se&eral annual *eneral meetin*s were held in stadiums. In 19%6, Dhirubhai

mana*ed to con&ince a lar*e no. of first time retail in&estors to participate in the

unfoldin* Reliance stor! and put their hard earned mone! in the Reliance e#tile I-,

promisin* them, in e#chan*e for their trust, substantial returns on their in&estments.

Ambani)s net worth was estimated at about Rs.1 billion b! earl! 19%0)s.

Diversification

&er time Dhirubhai di&ersified his business with the core speciali/ation bein* in

petrochemicals and additional interest in telecommunications, information

technology, energy, poer, retail, te!tiles, infrastructure services, capital mar"ets


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and logistics. he compan! as a whole b! " as a business empire with an

estimated annual turno&er of 12 million, and an %5,000 stron* wor$force3

Reliance general insurance is one of the leadin* pri&ate *eneral insurance

companies of India, in the present times. It was amon*st the first companies to appl!

for, and obtain, a license for insurance business, after the liberali/ation of insurance

sector,in 2000. he compan! continued to *rowth with the passin* time, widenin* the

scope of its insurance policies. oda!, it offers o&er 94 customi/ed insurance products

caterin* to need of the corporate, '( and indi&idual customers. Reliance *eneral

insurance also boasts of bein* the first insurance compan! in India to be awarded the

I' 90012000 certification across all functions, processes, products and location

pan7India.

#ision

o be an insurer of 8orld 'tandards and the most preferred choice for clientele at thedomestic and *lobal le&el.

$ission

"ompanies) mission is to $eep the customer satisfaction as focal point of all our operations, adopt the best international practices in underwritin*, claims and customer

ser&ice, be the most inno&ati&e in product de&elopment, establish presence all o&er

-

Reliance Capital

Reliance-ifeInsurance

RelianceGeneral

Insurance Insurance

Reliance

Money

Reliance

Consumer .inance

Reliance

/utual fundutua! +und


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India, ensure sustained &alue addition to all sta$e holders and to uphold "orporatealue : "orporate ;o&ernance.


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%oals

• (a$e affordable insurance accessible to all

• cities, in 22 states of India. 'uch a wide

distribution channel networ$, alon* with 24# customer ser&ice assistance and a full!

fled*ed website, has added to its success. As the same time, the compan! continuous

to launce inno&ati&e products, li$e Indies first &er7he7"ounter health and home

insurance policies, to woo potential customers and $eep the present ones satisfies and

pleased.

Customer &ocus

he brand philosoph! of reliance *eneral insurance compan! is -rotectin* what u

&alue3. he compan! aims at helpin* indi&iduals?"orporates as well as '(s protect

their dreams and accomplishments? that too thou*h a hassle frees bu!in* process.

8ith the concept of online bu!in*, Reliance has made it possible for the potentialcustomers to boo$ the policies from within the confines of their home@office. At the

same time, the insurance compan! intends to ma$e the claim settlement as prompt,

transparent and speed! as possible.

'ervices

Reliance *eneral insurance compan! offers a wide ran*e of inno&ati&e products to the

potential customers. Ri*ht from health and home insurance to car@motor and tra&el

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insurance, we can *et almost all t!pes of indi&idual policies with reliance, that too as

the premium rate. Apart from that, the compan! also caters to corporate and '(

clients, pro&idin* end to end insurance solutions. he product bas$et includes fire,

en*ineerin*, liabilit!, marine, tra&el and other t!pes of insurance, for or*ani/ation ris$

mana*ement.

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(he "ey business ) financial highlights are:

Reliance ;eneral Insurance has notched a premium of Rs.1946 crores durin*

the B 20070%, an e#ponential *rowth of 11> per cent as a*ainst the industr!

*rowth of 1> per cent.

he "ompan!)s new business premium of Rs.10>4 crores for the B 20070%,

constitutes >>.01C of the Industr!)s new business premium.

Reliance ;eneral Insurance ran$s amon* the op three pri&ate sector *eneral

insurance companies in India, durin* B 200 7 0%

no!s a 1 per cent mar$et share amon*st the pri&ate sector pla!ers.

he distribution networ$ e#tends across 200 ranch ffices spread across 12

cities in 22 'tates.

Reliance ;eneral Insurance has achie&ed the I' 90012000 certification for

maintainin* +ualit! standards across all functions, processes, products and

locations pan7India. his has made R;I the first *eneral insurance compan! in

the industr! to achie&e this milestone.

Eas man! Industr! firsts to its credit includin* the first &er7he7"ounter retail health insurance polic! in India 7 Reliance Eealth 8ise -olic!.

he health $it s!stem, launched b! R;I was conferred the -" Fuest award for

est I implementation.

he Reliance Eome Insurance film won an AB Award at Ad est 200%

Rapidl! e#panded the width and depth of the customer touch points o&er the last 2

!ears. he current customer touch points are offered throu*h distribution channels

li$e A*ents, anc assurance, (otor, ro$in*, ra&el, Direct 'ales and Rural.

Quality

At Reliance ;eneral Insurance, we identif! Fualit! and "ustomer7focus as our

$e! strate*ic initiati&es. ur Fualit! roadmap, strictl! ali*ned with our business

priorities, is benchmar$ed to the best contemporar! *lobal practices, and is desi*ned

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to support our sin*le7minded obecti&e of maintainin* world7class +ualit! standards.

ur +ualit! s!stem deplo!ment, defined from the point of the &iew of our customers,

is to enhance customer e#perience at all the touch points. As part of this initiati&e,

e&er! business process in the or*ani/ation is identified, documented, automated and

deplo!ed. hese processes are further monitored continuousl! throu*h their

compliance scores and dashboard measures and re&iewed b! the 'enior (ana*ement

team within the or*ani/ation.

In fact this passion has ta$en us one step ahead. 8e are pleased to share the

reco*nition of our Fualit! (ana*ement '!stem b! reputed *lobal +ualit! standards

auditin* or*ani/ation G Det Hors$e eritas DHJ, which has awarded us the I'

90012000 certification. he certification conforms our adherence to desi*n,

de&elopment : sale of ;eneral Insurance product offerin*s to meet customer needs

and in line with KIRDA re*ulationsK

*hat does the I'O +-: . certification mean to our Customer/

'treamlined processes and procedures

Reliance ;eneral Insurance has established well7defined and documented

process and to help understand our "ustomer)s re+uirements and address them

to their satisfaction.

'uperior 'ervice 'tandards

our unwa&erin* commitment to e#cellence ensures prompt and correct

documentation while also ensurin* transparent : speed! claims settlement.

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(echnology

he I strate*! aims to inte*rate the business and I &isions and has been an

important instrument in facilitatin* the dialo*ue between the I communit! and the

business leaders across the "ompan!. he importance of plannin*, in this fast7paced

en&ironment, has ne&er been more critical. he technical and business se*ments ha&e

wor$ed closel! to identif! the impact of e#ternal dri&ers, clarif! the business needs,

and ultimatel! determine how I can best help in achie&in* the business *oals. ur

"ustomers form the centre piece of the business architecture and ri*htl! so, be the

focal point from a technolo*! perspecti&e as well. ur ndea&our shall be to pro&ide

eas!, consistent and instant access of rele&ant information to customers across

multiple channels and touch points. All our technolo*! initiati&es shall be *eared

towards this obecti&e.

he "ompan! reco*ni/es that the securit! of information re+uires an on*oin*

commitment. owards this end a securit! pro*ram would pro&ide a continuous c!cle

for assessin* ris$, de&elopin* and implementin* effecti&e securit! procedures, and

monitorin* the effecti&eness of those procedures. 8e want to *uarantee the reliabilit!,

confidentialit! and a&ailabilit! of critical information. o that end, we will continue

implementation of our strate*! for enhancin* information securit! mana*ement

controls. 8e are in a challen*in* en&ironment, dealin* with all the chan*es in

technolo*!, the insurance industr!, the IRDA re*ulations and the wor$place. hee#pectations of what information technolo*! IJ can do to benefit the business and

its customers continue to *row. 8eK&e been wor$in* hard to pro&ide da!7to7da! I

ser&ices, while $eepin* our e!e on where the "ompan! is headed strate*icall!, and

also transformin* the I or*ani/ation to meet future re+uirements.

$eaning of Ris" 0 Insurance

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Insurance is a contract whereb!, in return for the pa!ment of premium b! the insured,

the insurers pa! the financial losses suffered b! the insured as a result of the

occurrence of unforeseen e&ents. he term Lris$L is used to describe all the accidental

happenin*s, which produce a monetar! loss.

Insurance is a method in which a lar*e number of people e#posed to a similar ris$

ma$e contributions to a common fund out of which the losses suffered b! the

unfortunate few, due to accidental e&ents, are made *ood. he sharin* of ris$ amon*

lar*e *roups of people is the basis of insurance. he losses of an indi&idual are

distributed o&er a *roup of indi&iduals.

(he ris" becomes insurable if the folloing re1uirements are complied ith:

he insured must suffer financial loss if the ris$ operates.

he loss must be measurable in mone!,

he obect of the insurance contract must be le*al.

he insurer should ha&e sufficient $nowled*e about the ris$s he accepts

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DI&&2R23( PROD4C('5O&&2R2D 67 R%IC8

928(9

Reliance 9ealth *ise

Access to +ualit! healthcare is a necessit! toda!. he Reliance Eealth 8ise -olic!

ensures !ou pro&ide the best medical care to !our famil!. 8e offer a health insurance

polic! that *i&es !ou the optimum &alue for mone! without compromisin* on the

+ualit! of medical attention.

Reliance Individual $edi claim Insurance Policy

Bour famil! deser&es the best especiall! when it comes to medical care. 8ith medical

e#penses shootin* s$! hi*h, Reliance (ediclaim Insurance -olic! helps !ou meet

hospitali/ation costs. 8e free !ou from financial worries so that !ou can *i&e !our full attention to !our lo&ed ones.

$O(OR

Reliance (o *heeler Insurance Policy

wo wheelers are con&enient and e#uberant. 8ith the man! ad&anced features added

in, toda!Ks two wheelers are safe too. Eowe&er, the possibilit! of dama*e to !our pride

and o! e#ist b! wa! of theft, natural calamities and accidents. nsure !our peace of

mind with Reliance wo 8heeler Insurance -olic!. It *i&es !ou comprehensi&e co&er

for !our &ehicle.

Reliance Private Car Insurance Policy

Bour car is more than a means of transport. It can be used for a famil! outin* or for

!our feel of freedom when !our wor$ burdens !ou down or it could be !our primar!

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especiall! desi*ned for student life abroad. 8e &alue !our dreams and aspirations and

we will be *lad to assist !ou in reali/in* them.

Reliance (ravel Care Insurance Policy < sia

Asia with its e#otic fla&ors and shoppin* (ecca)s has attracted the Indian tra&elers in

hoards. Reliance ra&el "are7Asia -lan is desi*ned to safe*uard and protect !ou from

medical and other emer*encies at a reasonable cost

Reliance Pravasi 6hartiya 6ima 7o=ana Insurance Policy

8ith the ad&ent of *lobali/ation and liberali/ation, e&er! da!, thousands of Indians

are crossin* new frontiers and ta$in* up new challen*es in different parts of the

world. ut at the same time the! are e#posed to se&eral perils li$e illness, accidents

and &arious other misfortunes. In order to help co&er such contin*encies, we present

the Reliance -ra&asi harti!a ima Boana Insurance polic!. his polic! is speciall!desi*ned for emi*rant Indians who are abroad on a &alid &isa for purposes of

emplo!ment

CCID23( CO#2R

Reliance Individual Personal ccident Policy

'afet! is alwa!s a paramount concern. Eowe&er accidents do occur. An accident at

home could be simpl! bro$en *lass or a *as c!linder burst. Reliance Indi&idual

-ersonal Accident -olic! is one of the $e! securit! measures to underta$e for

pro&idin* financial securit! in case of a inurious accident. It ensures that oneKs famil!

does not suffer in e&ent of an accident b! pro&idin* compensation for accidental deathor disablement.

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PC>%2 PO8IC7

Reliance Office Pac"age Policy

Bour office which is the place of !our professional success has been built with much

of !our time and mone!. Eowe&er, it is constantl! e#posed to &arious $inds of ris$s.

An unfortunate occurrence mi*ht disrupt the customar! functionin* of it, brin*in* a

hu*e financial burden to !our business and on !ou. Althou*h !ou cannot *uard !our

business from all possible ris$s, but with the Reliance ffice -ac$a*e -olic!, !ou can

choose those ris$s which !ou want to protect !our office a*ainst and also determine

the e#tent of co&er a*ainst each ris$.

Reliance Commercial Care Policy

Bour enterprise means the whole world to !ou. Bou direct all !our efforts in securin*

the business a*ainst an! undesirable misfortune. Reliance "ommercial "are -olic!

furthers this ndea&our and protects !our business a*ainst &arious perils and ris$s

which it mi*ht be e#posed to, ma$in* sure that !ou can focus !our efforts where it is

needed the most G the runnin* of the business.

Reliance Industry Care Insurance Policy

or a manufacturin* or industrial unit, e&er! operational moment is critical. Eowe&er,

despite the best safet! efforts, accidents do happen leadin* to si*nificant losses. 8e

understand and appreciate !our business and to ensure that in such e&ents !our

business is up and runnin* as soon as possible, we present Reliance Industr! "are

-olic!.

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Reliance 'hop"eeper;s Pac"age Policy

ften, establishments such as shops are e#posed to &arious ris$s that threaten to result

in si*nificant loss and dama*e to propert! as well as business. o ensure financial

protection from such losses and to facilitate smooth runnin* of !our business, we

present Reliance 'hop$eeperKs -ac$a*e -olic!.

$iscellaneous Policies

Reliance $oney Insurance

Dail! monetar! transactions are an inte*ral part of business routine. ew of these

innumerable e#chan*es could include transfer of funds throu*h cash, che+ues, drafts,

and postal orders etc which are t!picall! e#posed to certain ris$s. o co&er such ris$s,

we are pleased to offer the ad&anta*e of Reliance (one! Insurance -olic!, which

protects !our mone! round the cloc$.

Reliance 6urglary ) 9ousebrea"ing Insurance Policy

he world around us is becomin* more and more unsafe and the increase in crime rate

bears witness to this fact. ccurrences li$e bur*lar!, housebrea$in* or robber! of

contents at !our office, warehouse, shop or industr! can brin* about a hu*e financial

loss to !ou. Reliance ;eneral Insurance is pleased to offer a plan that $eeps !our

propert! protected at all times a*ainst bur*lar! and house brea$in*.

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Reliance &idelity %uarantee Insurance Policy

Bour emplo!ees are the dri&in* force of !our business. he successful functionin* of

!our enterprise is most often based on responsibilit! and subse+uent empowerment of

!our wor$force. Eowe&er, it is also possible that such dele*ation mi*ht lead to misuse

of empowerment and hence, one should *uard a*ainst this ris$. he Reliance idelit!

;uarantee -olic! facilitates !ou in dele*atin* and empowerin* !our emplo!ees while

$eepin* !our business safe

Industrial ll Ris"s Policy

Industrial Nnits are e#posed to a host of perils which threaten to brin* their da! to da!

operations to a *rindin* halt. An! loss or dama*e to propert! due to these perils can

cause a lot of financial trouble, both in terms of the repair or replacement costs and

the business loss that such e&ents can brin* about. he Reliance Industrial All Ris$s

-olic! can be the perfect solution for the industrial units to ensure complete co&era*e

when such loss or dama*e occurs

Reliance 'tandard &ire and 'pecial Perils Policy

"orporates with lar*e spread out business insurance need comprehensi&e protection

for their operation. Insurance is an essential tool to protect !ourself a*ainst losses that

could de&astate !our business. Reliance has pro&ided Reliance 'tandard ire and

'pecial -erils -olic! with a combination of both standard and optional features so that

!ou can choose the co&er which best suits !our business

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Reliance $achinery Insurance Policy

(achiner! forms an inte*ral part of an! manufacturin* or industrial set7up.

rea$down of critical machines ha&e a si*nificant impact on !our business, not onl!

in terms of the hea&! e#penses towards repair and replacements, but also the financial

losses that !ou mi*ht ha&e to bear durin* downtime. 8e help companies protect their

assets and safe*uard their re&enue streams with the help of the Reliance (achiner!

Insurance -olic!.

Reliance 2lectronic 21uipment Insurance Policy

oda! electronic e+uipment is a part and parcel of all businesses, whether bi* or

small. rom computers to medical de&ices, industrial e+uipments to electronic cash

re*isters, companies all o&er the world are increasin*l! rel!in* on the latesttechnolo*! as a bac$bone to aid their da!7to7da! operations. It becomes imperati&e to

co&er these e+uipments a*ainst the perils that the! are e#posed to, so as to ensure the

continuit! of !our business and safe*uard !our in&estments. he Reliance lectronic

+uipment -olic! is the ideal solution for such an insurance need, pro&idin* co&era*e

for unforeseen ph!sical loss or dama*e to !our e+uipments

Reliance $arine Cargo Insurance Policy

he increase in *lobal trade has boosted our economic prosperit! as a nation and has

de&eloped new a&enues of business for man! or*ani/ations. oda!, new trade

a*reements are e#pandin* the realms of business operations to man! new countries

and more *oods are bein* shipped around the world. here are a &ariet! of ris$s that

are associated with transit of *oods and it becomes pertinent to ha&e comprehensi&e

co&era*e for loss or dama*e to the *oods. or this purpose, we present the Reliance

(arine "ar*o -olic!.

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O#2R#I2* O& I3'4R3C2 I3D4'(R7

As we all $now that the Indian insurance s!stem has its roots in the nineteenth

centur!. efore 19> prior to nationali/ation of *eneral insurance companies,

insurance was concentrated mainl! amon* pri&ate hands. It was clear that a better

insurance s!stem was needed to promote the economic *oals of the new Indian state.

Accordin* to e#perts in insurance there has been a substantial *rowth in the

distribution of insurance branches and si/e. After nationali/ation, there was also a

chan*e in recruitment polic!. Eowe&er due to the ad&ancement in technolo*! there

was introduction of computer in e&er! field but insurance in India did not, howe&er,

introduce computers on a lar*e scale because of the fear that these would result in

retrenchment and unemplo!ment.

or a lon* time Indian insurance companies faced &er! little competition and

operated in a protected econom!. ut after 1999 mar$et for insurance products and

ser&ices has become more competiti&e than e&er before because of the entr! of bi*

pri&ate insurance companies.

How due to the increase in competition the pri&ate and public sector insurance

companies had to broaden the hori/on of their products and ser&ices to meet their

demand and fulfill their need throu*h better facilities.

o fulfill the need of their customer the insurance companies has to be accelerate

in the countr!.

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o be successful in insurance sector, insurance companies will need to re&amp their

business model to

aJ uild a lar*e &olume, hi*hl! scalable operation,

bJ -ac$a*e and deli&er products rapidl! in a d!namic mar$et,

cJ =e&era*e effecti&el! on multiple deli&er! channels branch, internet, etc.J with

a &iew to contain the cost of operations

dJ uild relationships with pro&iders of related insurance products and ser&ices

and mo&e towards con&ertin* the networ$ of insurance companies) branches into

Oinsurance supermar$ets).

'o there are different insurance products and ser&ices that are offered b! the

insurance companies in order to fulfill the need and the demand of the customer.

Althou*h all insurance companies offer same t!pe of insurance products li$e

home insurance ,motor insurance, office insurance etc. but the sections co&ered and

premium char*es &aries from one compan! to another compan!.

O#2R#I2* O& PC>%2 PO8ICI2'

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-59O4'2 9O8D2R’' PO8IC7

ur home and famil! mean e&er!thin* to us. Hot onl! our lo&e and care, but also

a lot of our time and mone! ha&e *one behind their bein* what the! are toda!.

Althou*h we cannot *uard them from all possible ris$s, we can ta$e steps to help us

tide o&er une#pected e&ents that can totall! shatter our life and our dreams.

he Eouseholders -olic! is a comprehensi&e shelter that protects our house and

the &arious contents in it a*ainst a &ariet! of ris$s. It is a sin*le polic! that ta$es care

of a number of contin*encies.It is imperati&e that we secure our home from natural

and man7made catastrophes. Eouse holders -olic! co&ers ris$s of different t!pes and

protects the house as well as personal effects and household *oods. his is a pac$a*e

polic! speciall! desi*ned to meet the insurance re+uirements of a householder b!

combinin* a number of standard policies usuall! ta$en b! householders, under a

sin*le polic!.

&eatures:5

Pire and Allied -erils

Pur*lar! and Eouse rea$in*.

PAll Ris$s eweller! and &aluablesJ

PDomestic (echanical and lectrical Appliances.

PDomestic lectronic Appliances.

Pele&ision 'ets.Pi#ed -late ;lass.

Pa**a*e.

P-ersonal Accident.

P=e*al =iabilit! etc.

.5O&&IC2 PC>%2 PO8IC7

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here are hu*e in&estments made when it comes to business. In&estments are

made for office premises, e+uipmentKs, human resources and other infrastructural

facilities. ur trade or business on which so much of our time and mone! ha&e been

spent to build up is constantl! e#posed to &arious $inds of ris$s. 'ome unfortunate

occurrence mi*ht brin* a hu*e financial burden to our business and to us. Althou*h

we cannot *uard our business from all possible ris$s, we can ta$e steps to tide o&er

such une#pected e&ents.

he ffice -ac$a*e -olic! is a comprehensi&e insurance polic!, speciall!

desi*ned to pro&ide protection to our ffice a*ainst different $inds of ris$s and perils.

! optin* for this sin*le polic!, the office owner co&ers those ris$s which his business

is li$el! to encounter while concentratin* on his business acti&it!. his polic! is

suitable for lar*e offices owned b! bi* companies as well as small and medium si/ed

offices li$e ra&el A*encies, -rofessionals li$e "hartered Accountants, "onsultants,

Architects, Interior Decorators, n*ineers or an! other ser&ice pro&ider

&eatures:5



P(echanical and lectrical Appliances.

Plectronic Appliances.

P(one! Insurance.

Pi#ed ;lass and 'anitar! ittin*s.

Pa**a*e.PHeon 'i*n@;low si*n@Eoardin*.

P-ersonal Accident.

PInfidelit!@Dishonest! of mplo!ees.

P=e*al =iabilit!.

PAdditional Rent for Alternati&e Accommodation.

Penant)s =e*al =iabilit! etc

?5'9OP>22P2R’' PO8IC7

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he 'hop$eeper)s insurance polic! is a comprehensi&e and speciall! desi*ned

polic! that see$s to co&er the losses arisin* out of a wide &ariet! of ris$s and perils. It

lets the shop$eeper concentrate on the runnin* of his business, his most &alued asset

but also his source of income. It co&ers both the structure and the contents of our shop

and protects us a*ainst financial loss in case of an unfortunate incident. nl! one

polic! can be ta$en b! one shop$eeper for each shop in a specific location ha&in*

separate boo$s of accounts. his is a pac$a*e polic! speciall! desi*ned for small

shop$eepers. It is a sin*le polic! combinin* the &arious insurance re+uirements of

shop$eepers.

&eatures:5



P(echanical and lectrical Appliances.

Plectronic Appliances.

P(one! Insurance.

Pi#ed ;lass and 'anitar! ittin*s.

Pa**a*e.

PHeon 'i*n@;low si*n@Eoardin*.

P-ersonal Accident.

PInfidelit!@Dishonest! of mplo!ees.

P=e*al =iabilit!

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Research:

Research is defined as human acti&it! based on intellectual application in the

in&esti*ation of matter. he primar! aim for applied research is disco&erin*,

interpretin* and the de&elopment of methods and s!stems for the ad&ancement of

human $nowled*e on a wide &ariet! of scientific matters of our world and the

uni&erse.

Research as a means for *ainin* $nowled*e can be carried out either arbitraril! or

in a s!stematic fashion. Research is a purposi&e in&esti*ation. It is a wa! of

findin* new wa!s of loo$in* at familiar thin*s in order to e#plore wa!s of

chan*in* it. As a process it in&ol&es definin* and redefinin* problems, h!pothesis

formulation, or*ani/in* and e&aluatin* data, deri&in* deduction, inferences and

conclusions, after careful testin*.

Research Design:

he researcher will be re+uired to prepare a research desi*n i.e. he will ha&e to

state the conceptual structure within which research would be conducted. he

function of research desi*n is to pro&ide for the collection of rele&ant e&idence

with minimum e#penditure of effort, time and mone!.

(ypes of research design:

#plorator! desi*n

Descripti&e desi*n

2


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Dia*nostic desi*n

#perimental desi*n

he research desi*n, which researcher used for this proect is the descripti&e one.

Descriptive research

Descripti&e research includes sur&e!s and fact findin* en+uiries of different

$inds. he maor purpose of descripti&e research is description of the state of affairs

as it e#ists at present. In social science and business research we +uit often use the

term e# post facto research for descripti&e research studies. he main characteristics

of this method are that the researcher has no control o&er the &ariables. Ee can onl!

report what has happened or what is happenin*. (ost e# facto research proects are

used for descripti&e studies in which the researcher see$s to measure such item as for

e#ample fre+uenc! of shoppin*, preference of people, or similar data.3

'ample Design:

A sample desi*n is definite plan for obtainin* a sample from a *i&en population. It

refers to the techni+ue or the procedure the researcher would adopt in selectin*items

for the sample. 'ample desi*n is determined before data is collected.

'teps in sample design:

8hile de&elopin* a samplin* desi*n, the researcher must pa! attention to the

ollowin* points?

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@ i A (ype of universe:

he uni&erse can be finite or infinite. In finite uni&erse the number of items is

certain li$e population of cit!, wor$ers in factor! etc. in case of infinite uni&erse

the number of items is infinite li$e stars in s$!, listeners of radio pro*rammed etc.

In this research, uni&erse of samplin* is ffices, Eomes : 'hop wners of -atna

@ ii A 'ampling unit:

'amplin* unit ma! be ;eo*raphical one such as 'tate, District, illa*e etc., or a

"onstruction unit such as Eouse, lat etc., or it ma! be 'ocial unit such as amil!,

"lub, 'chool etc.

In this research samplin* unit is ;eo*raphical as well as 'ocial.

@iiiA 'iBe of sample:

his refers to the number of items to be selected from the uni&erse to constitute a

sample. he si/e of sample should neither be e#cessi&el! lar*e, nor too small. It

should be optimum i.e. sample fulfills the re+uirements.

In this proect sample siBe is of -

@ivA 'ampling procedure0techni1ues:

Researcher must decide about the techni+ue to be used in selectin* the items for

the sample. In fact, this techni+ue or procedure stands for the sample desi*n itself.

(ainl! there are two techni+ues

Random or probabilit! samplin*

3


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-urposi&e or non7probabilit! samplin*

In thisresearch 3on5probability samplin* Eudgment samplingJ is used.

3on5probability sampling

@Eudgment samplingA

'amples can be either probabilit! samples or non7probabilit! samples. 8ith

probabilit! samples each element has a $nown probabilit! of bein* included in the

sample but the non7probabilit! samples do not allow the researcher to determine this

probabilit!.3

Hon probabilit! samples are those based on con&enience samplin*, ud*ment

samplin* and +uota samplin* techni+ues.3

Qud*ment samplin* the researcher)s ud*ment is used for selectin* items which

he considers as representati&e of the population.3

Data sources:

here are two t!pes of data

1. -rimar! Data

2. 'econdar! Data

Primary Data:

he primar! data are those which are collected afresh and for the first time, and

31


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thus happen to be ori*inal in character. he collection of primar! data is costl!

and time consumin*. It re+uires *reater plannin* and co7ordination.

'econdary Data:

he secondar! data, on the other hand, are those which ha&e alread! been

collected b! someone else and which ha&e alread! been passed throu*h the

statistical purpose. It is also called the Eistorical data.

Research is totall! based on primar! data. 'econdar! data is used onl! for the

reference. Research has been done b! primar! data collection, and primar! data

has been collected b! interactin* with &arious people and ta$in* the feedbac$ b!

Fuestionnaires. 'econdar! data are used for the theoretical and statistical part of

the proect.

(he secondary data has been collected through various sources li"e:

"ompan! manuals : Records.

(a*a/ines and publications.

8ebsite on internet.

Interactin* with the emplo!ers of the compan!.

Data Collection $ethod: Questionnaire

his included different +uestions which helped us to *ather information re+uired

to come up to a conclusion from the research.

(ype of Questions 'tructure

32


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34/63

.@aA5O&&IC2 PC>%2 PO8IC75 CO$PRI'O3 O&

&2(4R2'

'ections ) sub5sections0Company name

R=IAH" AQAQA==IAH

1,ire and Allied -erilsincludin* errorismJ

B' B'

2,ur*lar! and Eousebrea$in* B' B'

>, (echanical and lectrical+uipments

B' B'

4,lectronic+uipments

B' B'

5,i#ed -late ;lass B' B'

6,a**a*e B' B'

,(one! Insurance B' B'

%,-ersonal Accident B' B'

9,=e*al =iabilit!AJ8"Jhird part!

B' B'

10,Infidelit!@Dishonest! ofemplo!ees

B'' B'

11,Heon 'i*n and ;low si*n B' H

34


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12,usiness Interruption H H

1>,enant =e*al =iabilit! H H

14,"ost of Re7instatement ofdata

H H

15,All Ris$ on -rofessionalinstruments

H H

16, =oss of Rent. H H

1,Alternati&eAccommodation

B' H

1%,Eospital "ash H B'

3+


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12,usiness Interruption SSSS SSSS

1>,enant =e*al =iabilit! SSSS SSSS

14."ost of Re7instatement ofdata

SSSS SSSS

15.All Ris$ on -rofessionalinstruments

SSSS SSSS

16.=oss of Rent. SSSS SSSS

1,Alternati&eAccommodation

0.50 SSSS

1%,Eospital "ash SSSS As per tariff

3


37/63

?@aA5'9OP>22P2R’ PO8IC75 CO$PRI'O3 O& &2(4R2'

'ections ) sub5sections0Company name

R=IAH" AQAQA==IAH

1,ire and Allied -erilsincludin* errorismJ

B' B'

2,ur*lar! andEousebrea$in*

B' B'

>, (echanical and lectrical+uipments

B' B'

4,lectronic+uipments

B' B'

5,i#ed -late ;lass B' B'

6,a**a*e B' H

,(one! Insurance B' B'

%,-ersonal Accident B' B'

9,=e*al =iabilit!AJ8"

B' B'

3-


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Jhird part!

10,Infidelit!@ Dishonest! of mplo!ees

B' B'

11,Heon 'i*n and ;low si*n B' B'

12,usiness Interruption H B'

O(92R CO$P2(I(OR'

I&CO 5 (O>IO

3(IO38

I3'4R3C2

3


39/63

(92 ORI23(8

I3'4R3C2

&or 9ousehold Insurance

&or your household, do you thin" that it is important to have

insurance/ Ho. f "ustomers

60J-ercenta*e CJ

Alwa!s 1% >0

'ometime 10 16.66

He&er 12 20

Depends upon -roduct 20 >>.>>

3#


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I3(2RPR2((IO3

>>.>> C of respondents said that the insurance of household depends on

product.

>0C of respondents said that insurance is alwa!s essential for house.

20 C of respondents said that there is no need of Insurance for house.

16.66 C of respondents said that insurance is necessar!, but some time.

4


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&or household Insurance hich company does you li"e most/

Ho. f "ustomer 60J -ercenta*e CJ

R=IAH";HRA= IH'NRAH"

22 >6.66

AQAQ A==IAH 1% >0

ER' 20 >>.>>

I3(2RPR2((IO3

>6.66 C of respondents li$e Reliance ;eneral Insurance for household

-olic!.

>>.>>C of respondents li$e other insurance compan!.

>0 C of respondents li$e aa Allian/ for household -olic!.

On hich basis you select your insurance company

41


42/63

Ho. f"ustomers 60J

-ercenta*e CJ

-remium 14 2>.>>

acilities 21 >5

"ompan!)s-rofile

1% >0

ther 11.66

I3(2RPR2((IO3

>5 C of respondents select their Insurance "ompan! on the basis ofacilities.

>0 C of respondents select their Insurance "ompan! on the basis of

"ompan!)s -rofile.

2>.>> C of respondents select their Insurance "ompan! on the basis of

-remium.

11.66C of respondents select their insurance compan! on the basis of other

reasons.

42


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Do you thin" the legal liability is necessary for household

insurance/ Ho. f

"ustomers 60J-ercenta*e CJ

Bes 42 0

Ho 6 10

Don)t $now 12 20

I3(2RPR2((IO3

0 C of respondents thin$ that le*al liabilit! is necessar!.

10C of respondents thin$ that le*al liabilit! is not necessar!.

20C of respondents don)t $now about le*al liabilit!.

43


44/63

&or Office pac"age Policy

&or your Office, do you thin" that it is important to have

insuredM Ho. f "ustomer 60J

-ercenta*e CJ

Alwa!s 26 4>.>>

'ometime 12 20

He&er 4 6.66

Depends upon-roduct

1% >0

I3(2RPR2((IO3

4>.>>C of respondents said that insurance is alwa!s essential for ffice.

>0 C of respondents said that the insurance is depends on product.

20 C of respondents said that there insurance is necessar!, but some time.

6.66C of respondents said that there is no need of Insurance.

44


45/63

&or Office Pac"age policy hich company do you li"e most/

Ho. f "ustomer 60J

-ercenta*e CJ

R=IAH";HRA=IH'NRAH"

1% >0

AQAQA==IAH

19 >1.66

ER' 2> >%.>>

I3(2RPR2((IO3

>0 C of respondents li$e Reliance ;eneral Insurance for their ffice -ac$a*e

-olic!.

>1.66 C of respondents li$e aa Allian/ for their ffice -ac$a*e -olic!.

>%.>> C of respondents li$e ther Insurance for their ffice -ac$a*e -olic!.


4+


46/63

Ho. f "ustomer 60J

-ercenta*e CJ

-remium 16 26.66

acilities 22 >6.66

"ompan!)s-rofile

14 2>.>>

ther % 1>.>>

I3(2RPR2((IO3

>6.66 C of respondents select theirinsurance compan! on the basis of

facilities.

26.66 C of respondents select their insurance compan! on the basis of-remium..

2>.>> C of respondents select their insurance compan! on the basis of

"ompan!)s -rofile

1>.>>C of respondents select their insurance compan! on the basis of other

reasons.

Do you thin" the legal liability is necessary for Office

4


47/63

insurance/ Ho. f "ustomers

60J-ercenta*e CJ

Bes >5 5%.>>

Ho 20 >>.>>

Don)t $now 5 %.>>

I3(2RPR2((IO3

5%.>> C of respondents thin$ that le*al liabilit! is necessar!.

>>.>> C of respondents thin$ that le*al liabilit!is not necessar!.

%.%%C of respondents don)t $now about le*al liabilit!.

&or 'hop"eeper’s Insurance

4-


48/63

&or 7our 'hop, do you thin" that it is important to have

insurance/ Ho. f

"ustomer 60J-ercenta*e CJ

Alwa!s >> 55

'ometime 09 15

He&er 06 10

Depends upon-roduct

12 20

I3(2RPR2((IO3

55C of respondents said that insurance is alwa!s essential for their shop.

20 C of respondents said that insurance isdepends on product.

15 C of respondentssaid that insurance is important, but some time.

10C of respondents said that insurance is not necessar!.

&or 7our 'hop hich Insurance company does you li"e

4


49/63

most/ Ho. f

"ustomer 60J-ercenta*e CJ

R=IAH" ;HRA=IH'NRAH"

16 26.66

AQAQ A==IAH 12 20

ER' >2 5>.>>

I3(2RPR2((IO3

26.66 C of respondents li$e Reliance *eneral insurance.

20 C of respondents li$e aa Allian/.

5>.>> C of respondents li$e ther Insurance "ompanies.


Ho. f "ustomer 60J -ercenta*e CJ

4#


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-remium 1% >0

acilities 2> >%.>>

"ompan!)s -rofile 15 25

ther 04 6.66

I3(2RPR2((IO3

>%.>> C of respondents select their Insurance "ompan! on the basis of

facilities.

>0 C of respondents select their Insurance "ompan! on the basis -remium.

25 C of respondents select their Insurance "ompan! on the basis of

"ompan!)s profile.

6.66C of respondents select their insurance compan! on the basis of other

reasons.

Do you thin" the legal liability is necessary for 'hopinsuranceM

+


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Ho. f "ustomers60J

-ercenta*e CJ

Bes 40 5

Ho 10 25

Don)t $now 10 10

I3(2RPR2((IO3

66.66 C of respondents thin$ that le*al liabilit! is necessar!.

16.66 C of respondents thin$ that le*al liabilit!is not necessar!.

16.66C of respondent don)t $now about le*al liabilit!.

'*O( 387'I'

+1


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'wot anal!sis is the acron!m for Gstren*th, wea$ness, opportunities and

threat.'tren*ths are the inherent capabilit! an or*ani/ation possesses which *i&e it a

competiti&e ad&anta*e o&er its competitors. 8ea$nesses are the inherent incapabilit!

an or*ani/ation possesses that ma$e a firm position wea$er in the competiti&e

en&ironment. pportunit! is a condition here there is a fa&orable atmosphere for the

or*ani/ation with which an or*ani/ation can e#pand, de&elop, row: prosper. hreat is

an unfa&orable condition which at times pro&ides losses to the or*ani/ation or puts a

or*ani/ation into ris$. hese stren*th and wea$ness are a part of firm internal

en&ironment whereas opportunities and threats are a part of firm)s e#ternal

en&ironment. Anal!sis of this factors help in new strate*! formulation. 'o a firm

should do '8 anal!sis from time to time. '8 is also sometimes referred to as

8'7N- anal!sis..herefore, it is almost important to do '8 anal!sis for

reliance *eneral insurance.

'trength

1. Di&ersit!, resilience and fle#ibilit!.

2. -art of one of the bi**est or*ani/ation R=IAH" with a *ood financial

bac$up.

>. Fualit! ser&ice is assured if one has an insurance relationship with R;I"=.

4. .;ood infrastructure : *ood incenti&es for the result oriented emplo!ees

5. 'tron* sales team who are recruited throu*h tou*h inter&iews.

6. -remium char*es are comparati&el! less from &arious companies.

+2


53/63

*ea"ness

1. Humber of R;I"= branches is less than its close competitors.

2. ld a*e people are still to be tapped.

>. =ac$ of concentration on rural mar$et.

4. Hew customer hesitates to start a relationship with R;I"=.

5. =ac$ of control on the mar$etin* a*ent.

Opportunity

1. #plore the mar$et with new policies.

2. =ot of scope for product &ariation.

>. ap the middle income *roup and the salaried class.

4. =ot of scope for *rowth in the Indian mar$et.

(hreat

1. Infrastructure of its competitors.

2. -la!ers ha&e similar strate*ies.

>. here is not much differentiation between the ser&ices and products of other

companies.

&I3DI3%

+3


54/63

It was found that reliance *eneral insurance capture lar*est mar$et share in

household)s polic!>6.66CJ and 26.66C in shop$eeper)s polic!.

It was found that neon si*n and *low shine li$e some features onl! pro&ided

b! reliance *eneral insurance.

It was found that in shop $eeper)s polic! reliance *eneral insurance pro&ided

cheapest premium.

It was found that most household)s insurance depends on product.

It was found that more than 50C problems faced b! the customers are related

with information.

It was found that most of the customers consider compan! profile and

different policies, before ta$in* insurance.

It was that securit! is the main purpose behind insurance.

+4


55/63

8I$I((IO3 O& (92 PROE2C(

nl! three pac$a*e policies were ta$en into consideration while conductin*

the mar$et research of R;I"= and its competitors. his was due to limitation

of time allotted for the stud!. he non disclosure of some &ital information which could ha&e been of some

help in brin*in* forth certain other &ital issues of importance.

o &isit whole area, two month time was &er! less. he findin* emer*ed from the restricted onl! to -atna re*ion.

'ometimes e#ecuti&es ma! not pro&ide us with the correct information.

hat was maor problem which creates a barrier in the research is unawareness

of small shop $ippers and house wi&es about insurance policies.

CO3C84'IO3

++


56/63

'ervice ith a promise oda!)s insurance customer will settle for nothin*,

e#cept the better ser&ice with a broad promise. And then the! will reali/e that the! are

the $in*. he! will not confine themsel&es with the world class products and ser&ices

but the! also need a broad platform where the! can ma$e different choices. heir

choice of one entit! o&er another insurance compan! is determined b! considerations

of ser&ice +ualit! rather than an! other factor. he! want competiti&e premium rates,

!es, but them also wants their claim or renewal applications etc to be processed in

double7+uic$ time. he! cherish the con&enience of impersonal Het insurance, !es,

but durin* their occasional &isits to the branch, the! also want the comfort of

personali/ed, human interactions and facilities that ma$e their insurance e#perience

pleasurable. ut the! also needs that their *rie&ances should be settlin* as soon as

possible. In short, the! want a securit! house that will more than ust issue the polic!

and settles their claims the! want an insurance that cares and for more than ust their

custom. he! want a customer7friendl! insurance compan!.

+


57/63

'4%%2(IO3

'ervice Quality

his is the main factor which ma$es a insurance compan! customer7friendl! its

o&erall ser&ice standards, rated for ease of proposal form? how courteous, accessible

and $nowled*eable its staff are? claim settlement time for ser&ices? how inno&ati&e

the insurance compan! is in introducin* products and ser&ices? how +uic$l! it handles

the *rie&ances? how li$el! it is to retain customers? and how probable it is that its

customers will recommend the insurance compan! to others.

6ranch &acilities

8al$ into an! branch of a multinational or leadin* Indian insurance compan!, and

!ou)ll belie&e !ou)re in a countr! club. (an! other insurance companies, of course,

ha&e miles to *o in this sphere, but there)s a *rowin* reali/ations amon* them that

offerin* a pleasant insurance e#perience Gwith comfortable seatin*, air7conditionin*,

restroom and drin$in* water facilities.

$ar"et Potential

8ith An on*oin* national econom!, insurance7sector reforms and a *rowin* middle

class, the Indian mar$et offers hu*e potential for R=IAH" ;HRA=

+-


58/63

IH'NRAH" to *row. he lar*e and *rowin* middle class population and increase in

disposable incomes ha&e created boomin* mar$ets in housin*, motor, tele&isions,

computers, mobile phones and other products, most of which re+uire insurance.

R=IAH" ;HRA= IH'NRAH" has been effecti&e in le&era*in* this

opportunit! with its product and ser&ice offerin*s.

(he Road head

After so man! !ears of ser&ice to India, R=IAH" ;RN- continues to be

committed to the countr! and optimistic of positi&el! contributin* to the Indian

conom!. he R=IAH" ;RN- considers India to be one of the *reatest

economic opportunities of the 21st centur! and is proud to be so stron*l! positioned

here. he R=IAH" ;RN- has ambitious plans to transform its business in the

countr! and to further e#pand operations across the countr!.

+


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6I68O%RP97

- Internet 'ites

• reliancegeneralcoin

• ba=a=allianBcom

• economictimescom

• http:00eni"ipediaorg0i"i0RelianceFgeneralFinsurance

• paisaaisacom0 insurance 0reliance 5 general 0reliance 5 general 5

insurance asp! 5

. $agaBines and 3espapers

• 2conomic (imes

• 6usiness India’s

• 6usiness 'tandard

• (he (imes Of India

? 6oo"s

•$ar"eting $anagement by Philip >otler

• Research methodology by Dr 'hailesh >asande

• Research methodology method and techni1ues .nd edition by C R

>othari

• Research methodology by %C 6eri, Gth edition published by ($9

3e Delhi

• $ar"eting Research by #anishree Pabal"ar

• $ar"eting management by run >umar

G Product $anual, Reliance %eneral Insurance

+#

http://www.reliancegeneral.co.in/http://www.bajajallianz.com/http://www.economictimes.com/http://www.reliancegeneral.co.in/http://www.bajajallianz.com/http://www.economictimes.com/


60/63

Questionnaire

Dear sir@ madam,

his +uestionnaire is aimed at understandin* !our satisfaction. Bour response will

be deals with strict confidentialit! and it will be used onl! for academic purpose.

han$ !ou for spendin* !our &aluable time to fill this +uestionnaire.

Hame SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS

Address SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS

SSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSSS

"ontact Ho (obileSSSSSSSSSSSSSSSSSSSSSSSSSResiSSSSSSSSSSSSSSSSSSSSS

(arital 'tatus 'in*le (arried

&or house holders

1. or !our house hold, do !ou thin$ that it is important to ha&e insuranceM

aJ Alwa!s

bJ 'ome time

cJ He&er

dJ Depend on products.

2. 8hich insurance compan! does !ou li$e mostM

aJ Reliance *eneral Insurance

bJ aa Allian/

cJ ther


61/63

>. n which basis !ou select !our insurance compan!M

aJ -remium

bJ acilit!

cJ "ompan! profile

dJ thers

4. Do !ou thin$ le*al liabilit! is necessar! for house hold insuranceM

aJ Bes

bJ Ho

cJ Don)t $now

&or Office

1. Do !ou thin$ that it is important to ha&e insuranceM

aJ Alwa!s

bJ 'ome time

cJ He&er

dJ Depend on product


dJ Reliance *eneral Insurance

eJ aa Allian/

fJ ther

1


62/63


aJ -remium

bJ acilit!

eJ "ompan! profile

fJ thers

4. Do !ou thin$ le*al liabilit! is necessar! for insuranceM

aJ Bes

bJ Ho

cJ Don)t $now

&or shop "eepers

1. Do !ou thin$ that it is important to ha&e insuranceM

aJ Alwa!s

bJ 'ome time

cJ He&er

dJ Depend on product


*J Reliance *eneral Insurance

hJ aa Allian/

iJ ther

2


63/63


aJ -remium

bJ acilit!

*J "ompan! profile

hJ thers

4. Do !ou thin$ le*al liabilit! is necessar! for insuranceM

aJ Bes

bJ Ho

cJ Don)t $now

267865648 reliance general insurane

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