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“BRAND AWARENESS OF ING VYSYA LIFE INSURANCE AMONG POTENTIAL CUSTOMERS”

Presentation on…

presented by:

Ashutosh Mondal

EIILM KOLKATA

INTRODUCTION TO ING

In existence for 150 years. World 9th largest leading private company. Operates in 60 countries across 5 continents. Has a revenue average 76.58 billion Euro. ING covers 75 million private, corporate & institutional

Clients (in 50 countries) (2007). Employees 1,20,000 people world wide.

INTRODUCTION TO ING VYSYA LIFE INSURANCE

Operating in India since September 2001 Present in 246 cities in India Has over 7000 employees & 51000 advisors serving over 55000

customers One of the fastest growing insurance companies in India Promoting the concept of HLV where only 4% of the population

is insured. ING vysya life was founded in 1991 by a merger between

National-Nederland &NMB Post bank Group.

OBJECTIVES

To find out the reasons why people buy Insurance Products.

To find out how popular is the brand of ING Vysya. To find out the source of the promotional media used. To find out the interest level of people to invest in

mutual fund and share market. To study the market awareness of ULIP ( Unit Linked

Insurance Products ).

METHODOLOGY

Here the target group for the survey has been

the following: People with income of 10,000 or more per month. Age group 20-60 People Belonging to Kolkata & Burdwan. Sample size: 166 Sampling Method: Convenience Sampling

Products

Category Product Name

Protection ING Term LifeING Term Life Plus

Saving Reassuring LifeCreating LifeSafal JeevanCreating Life Money backSafal Jeevan Money backING Life PlusING Creating star

Category Product Name

Retirement ING Golden LifeBest Years

Investment New Freedom PlanNew One lifeNew Fulfilling LifeHigh LifeHigh Life Plus

AGE GROUP PROFILE

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

Below 20 20-30 30-40 40-50 50 above

1.81%33.73% 22.89% 15.66% 25.90%

Analysis

AWARENESS ABOUT LIFE INSURANCE

88.55% 11.45%Aware

Unaware

AWARE ABOUT ING VYSYA LIFE INSURANCE

45%

55%

Aware Unaware

AWARE ABOUT ING VYSYA LIFE INSURANCE

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

T.V. Friends Hoardings Newspaper

28.31% 25.30% 12.65% 33.73%

ULIP AWARENESS

56.02%

43.98%

Yes

No

INVESTMENT IN MUTUAL FUND OR SHARE

33.73%

66.27%

Yes

No

PARAMETERS CONSIDERED WHILE PURCHASING AN INSURANCE POLICY

28.31%

12.04%59.65%Higher return

Security

Higher return & Security

FINDINGS

88.55% are aware Life Insurance. 45% are aware ING Vysya Life Insurance. People viewing insurance as a tax saving and

investment instrument as much as a protective one.

S.W.O.T. ANALYSISStrengths: Huge capital base to absorb financial shocks. Excellent training & care given to the agents. Business experience in this field for more than 150 years.

Weaknesses: A conservative marketing approach. Presence of unethical agents that can hamper the image of the

company.

Opportunities: Huge untapped market, as the concept of Life Insurance in India

is still in the developing stage.

Threats: The Life Insurance Corporation Of India which has been ruling

the Life Insurance market in India Since 1956. Threat of new private players entering the market and also from

the ones already existing.

RECOMMENDATION

Sending brochure through agents to the respondents who could be the potential customer.

To inform the agents that they need to talk about higher return & security to the customers.

Promoting ULIP to the respondents who invest in mutual fund & share.