ip n cp.doc
TRANSCRIPT
-
7/28/2019 ip n cp.doc
1/38
KOTAK GROUP COMPANIES
Kotak Mahindra Group is mainly into financial services which encompass
insurance, mutual funds, banking, investments and other activities of similar
nature. These various financial service activities have been controlled by different
subsidiary of Kotak Mahindra group. The group companies and respective
activities are given below:
KOTAK MAHINDRA GROUP
KOTAK MAHINDRA BANK LTD
The Kotak Mahindra Finance Ltd established in 1985 which is Kotak Mahindra
Groups flagship company got converted into a bank Kotak Mahindra Bank in
March 2003. It is the first Indian company to convert into a bank. Its banking
operations offer a central platform for customer relationships across the groups
various businesses. The bank has a presence in the commercial vehicles, retail
finance, corporate banking, treasury and housing finance.
KOTAK MAHINDRA CAPITAL COMPANY
The Kotak Mahindra Capital Company Ltd is known as Indias premier
Investment bank and a primary dealer which is approved by the RBI. KMCCs
core business areas include private equity, insurance, mergers and acquisitions,
structured finance and advisory services, fixed income securities and principal
business.
1
-
7/28/2019 ip n cp.doc
2/38
KOTAK SECURITIES
Kotak Securities Ltd is one of Indias largest brokerage and securities distribution
house in India. It has been one of the leading investment broking houses catering
to the needs of both institutional and non institutional investor categories with its
presence all over the country through franchises and coordinators. Kotak
Securities Ltd offers both online and offline services which is based on well
researched expertise and financial products to the non institutional investors.
KOTAK MAHINDRA PRIME
Kotak Mahindra Prime Ltd is formerly known as Kotak Mahindra Primus Ltd. It
has been formed with the objective of financing the retail and wholesale trade of
passenger and multi utility vehicles in India. Kotak Mahindra Prime offers
customers retail finance for both new as well as used cars and wholesale finance
to dealers in the automobile trade.
KOTAK MAHINDRA ASSET MANAGEMENT COMPANY
Kotak Mahindra Asset Management Company is a subsidiary of Kotak Mahindra
Bank. It is the asset manager for Kotak Mahindra Mutual Funds. KMMF manages
funds in excess of Rs 11000 crores and offers schemes catering to investors with
various risk return profiles. It is the first fund house in the country to launch a
dedicated gilt scheme investing only in government securities.
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD
Kotak Mahindra Old Mutual Life Insurance Ltd is a joint venture between KMB
LTD and Old Mutual Plc. Kotak Life Insurance help customers to take important
financial decisions at every stage in life offering them a wide range of innovative
life insurance products, to make them financially independent.
2
-
7/28/2019 ip n cp.doc
3/38
INDIAN LIFE INSURANCE INDUSTRY OVERVIEW
All life insurance companies in India have to comply with the strict
regulations laid out by Insurance Regulatory and Development Authority of India
(IRDA). Therefore there is no risk in going in for private insurance players. In
terms of being rated for financial strength like international players, only ICICI
Prudential is rated by Fitch India at National Insurer Financial Strength Rating of
AAA (Ind) with stable outlook indicating the highest claims paying ability rating.
Life Insurance Corporation of India (LIC), the state owned behemoth,
remains by far the largest player in the market. Among the private sector players,
ICICI Prudential Life Insurance(JV between ICICI Bank and Prudential PLC) and
Max New York Life Insurance are the largest followed by Bajaj Allianz Life
Insurance Company Limited (JV between Bajaj Group and Allianz). The private
companies are coming out with better products which are more beneficial to the
customer. Among such products are the ULIPs or the Unit Linked InvestmentPlans which offer both life cover as well as scope for savings or investment
options as the customer desires. Further, these type of plans are subject to a
minimum lock-in period of three years to prevent misuse of the significant tax
benefits offered to such plans under the Income Tax Act. Hence, comparison of
such products with mutual funds would be erroneous.
3
http://www.maxnewyorklife.com/http://www.maxnewyorklife.com/ -
7/28/2019 ip n cp.doc
4/38
COMMISSION / INTERMEDIATION FEES
The maximum commission limits as per statutory provisions are:
Agency commission for retail life insurance business:
1st year commission varies from 2% to 40% depends on yhe
product and 2nd year onwards it varies from 1% to 7%
Maximum broker commission - 30%
However, the above commission may be further subject to the product
wise limits specified by IRDA while approving the product.
4
-
7/28/2019 ip n cp.doc
5/38
-
7/28/2019 ip n cp.doc
6/38
LIST OF LIFE INSURERS
Apart from Life Insurance Corporation, the public sector life insurer, there
are 17 other private sector life insurers, most of them joint ventures between
Indian groups and global insurance giants.
LIFE INSURER IN PUBLIC SECTOR
1. Life Insurance Corporation of India
LIFE INSURERS IN PRIVATE SECTOR
1. Bajaj Alliums Life
2. Max New York Life Insurance
3. ICICI Prudential Life Insurance
4. Tata AIG Life
5. HDFC Standard Life
6. Burls Sunlife
7. SBI Life Insurance
8. Kotak Mahindra Old Mutual Life Insurance
9. Aviva Life Insurance
10. Reliance Life Insurance Company Limited - Formerly known as AMP
Sanmar LIC
11.Metlife India Life Insurance
12.ING Vysya Life Insurance
13. Max Newyork Life Insurance
14.Shriram Life Insurance
15.Bharti AXA Life Insurance Co Ltd16.Sahara Life Insurance
17.Future General Life Insurance Co Ltd
18.IDBI Fortis Life Insurance Co Ltd
19.Aegon Religare Life Insurance Co Ltd
6
http://en.wikipedia.org/wiki/Life_Insurance_Corporation_of_Indiahttp://www.bajajallianzlife.co.in/http://www.maxnewyorklife.com/http://www.maxnewyorklife.com/http://www.iciciprulife.com/http://en.wikipedia.org/wiki/Reliance_Life_Insurance_Company_Limitedhttp://www.maxnewyorklife.com/http://www.saharalife.com/http://en.wikipedia.org/wiki/Life_Insurance_Corporation_of_Indiahttp://www.bajajallianzlife.co.in/http://www.maxnewyorklife.com/http://www.iciciprulife.com/http://en.wikipedia.org/wiki/Reliance_Life_Insurance_Company_Limitedhttp://www.maxnewyorklife.com/http://www.saharalife.com/ -
7/28/2019 ip n cp.doc
7/38
OBJECTIVE OF THE STUDY
The following are the main objectives of the mini project:-
A LEARNING PHASE
The experience of the one month in the company and in the field together is
going to be a great learning phase in the project and this also includes getting to
know and learn the corporate culture of the work life at Kotak Life Insurance,
which will be carried forward as a great strength and achievement for the whole
of the career ahead.
INTERACTING WITH PEOPLE
Being a Marketing student, meeting people in and out the company would be
another main objective and it would help in developing contacts with the people
around and it would always helpful in a successful business life.
VALUE ADDITION TO THE COMPANY
This project will also result in value addition to the company and it would result in
getting more distributors.
TIME MANAGEMENT
One of the key resources of any professional is Time. There would be a clear
time frame in each and every work of the corporate world. The time taken to do
anything is an indicator of the skill of the doer.
7
-
7/28/2019 ip n cp.doc
8/38
RESEARCH METHODOLOGY
The process which works upon is as shown in the figure below.
Define the problem and research objectives
Develop the research plan
Collect the information
Analyze the information
Present the findings
Make the decision/Give solution
8
-
7/28/2019 ip n cp.doc
9/38
DEFINITION OF THE PROBLEM AND THE RESEARCH OBJECTIVES
Identification of the problemis thereby realizing the untapped resources.
Less awareness among the people about the benefits and the knowledge
of the company and its service.
DEVELOP THE RESEARCH PLAN
The second stage is development of the most efficient plan for gathering
the needed information.
DATA SOURCES
The data gathered, is through the secondary data and the primary data.
The Secondary data collected was that which was already collected for another
purpose and already exist. Primary data is the data freshly gathered for this
specific purpose and the research project.
Secondary data has provided a starting point for the research. The normal
procedure that is followed to interview people individually to get a sense of
people feels about the company and its service.
RESEARCH APPROACH
The kind of research approach used is the survey research. The survey is
helpful learning about peoples knowledge, beliefs, preferences, and satisfaction,
and to measure these magnitudes in the general population.
RESEARCH INSTRUMENT
The research instrument used is the Questionnaire.
9
-
7/28/2019 ip n cp.doc
10/38
SAMPLING PLAN
The sample size plan consists of 80 financial distributors in Cochin.Themost versatile contact method that could be followed is the personal interviewing.
COLLECTION OF INFORMATION
The data collection phase is the most delicate and prone to errors.
ANALYZE THE INFORMATION
The next process is to extract the findings from the collected data.
PRESENT THE FINDINGS
The last would be to present the findings that are relevant for the decision
facing the management.
CONCLUSION OR PRESENTING THE SOLUTIONS
This would be based on the study would be the last major step to be
followed.
10
-
7/28/2019 ip n cp.doc
11/38
INSURANCE
The Indian insurance sector is on a bull run. The average Indian now
spends 5.4 times as much on life insurance as what s/he did seven years ago
when the industry was yet to be opened up for private participation.
With the largest number of life insurance policies in force in the world,
India's insurance sector accounted for 4.1 per cent of GDP in 2006-07, up from
1.2 per cent in 1999-2000, far ahead of China where insurance accounts for just1.7 per cent of the GDP and even the US where insurance penetration stands at
4 per cent of the GDP.
Indians are now setting aside a larger chunk of their income on life
insurance when measured as a percentage of GDP. They are allocating a small
amount of their take-home to buy insurance products given their rising equated
monthly installment (EMI) payments for home mortgage and other loans.
The growth in insurance premium collections has spelt an opportunity for
the equity market too. The industry's investment in the equity market stood at
US$ 38.1 billion and the assets under management were at US$ 152.6 billion as
on March 31, 2007.
Indian insurance companies recorded a 19.9 per cent growth in premium
in dollar terms (adjusted for inflation) in 2006-07, compared to the world market
growth rate of 2.9 per cent. This rate of growth of the industry looks particularly
impressive when seen against the fact that the combined penetration of both life
and non-life is less than 2 per cent of the GDP compared to world average of
7.52 per cent. Clearly, the scope for growth is enormous.
11
-
7/28/2019 ip n cp.doc
12/38
LIFE INSURANCE
Led by the Life Insurance Corporation (LIC), the life insurance industry
registered a growth of 110 per cent in fiscal 2006-07, taking the total business to
US$ 19.2 billion from the previous year's US$ 9.1 billion. The life insurance
market has grown rapidly over the past six years, with new business premiums
growing at over 40 per cent per year owing to the entry of a host of new players
with significant growth aspirations and capital commitments.
The total life insurance market premiums is likely to more than double
from the current US$ 40 billion to US$ 80-US$100 billion by 2012, says a study
by McKinsey. The study titled 'India Insurance 2012: Fortune Favours the Bold,'
expects a rise in premiums between 5.1 and 6.2 per cent of the GDP in 2012
from the current 4.1 per cent driven by greater insurance intensity per capita as
the average per capita income increases and rise in penetration in urban and
rural areas.
The life insurance premium contributions per capita have jumped from a
little over US$ 7 in 1999-2000 (pre-liberalisation) to US$ 38.5 in 2006-07.
Life insurance penetration in India - which was less than 1 per cent till
1990-91 - increased to 2.53 per cent in 2005, and to 3 per cent in 2006-07. The
impetus for growth has come from both public and private insurers. Also, the
number of players in this segment has also increased to 17 (16 in private sector),
with Life Insurance Corporation (LIC) being the dominant player (market share of
about 74 per cent).
12
-
7/28/2019 ip n cp.doc
13/38
INNOVATIVE TRENDS
Insurance in India has been spurred by product innovation, streamlining ofsales and distribution channels along with targeted advertising and marketing
campaigns.
The kid's insurance segment in the insurance sector is witnessing
increased activity. Children's products such as ICICI Prudential Life's 'SmartKid',
Birla Sun Life's 'Children's Dream Plan', or HDFC Standard 'Life's Young Star
Plus', are on a consistent growth path. According to industry estimates, currently,
20-30 per cent of business of many companies comes from children-specific
insurance policies alone.
Emerging lifestyle trends amid a changing fabric of the Indian society have
also modified social and financial behaviour. For instance, an increase in the
number of working women has led to a demand for life insurance policies, which
in turn has helped women through a micro-entrepreneurship initiative (women
have flexibility - managing home and being financially independent as distributors
of insurance).
The Road Ahead . . . .
Market penetration tends to rise as incomes increase, particularly in life
insurance. India, with its huge middle-class households and growing economy
has exhibited huge potential for this sector. Current estimates say that, for every
one per cent increase in the GDP, insurance premiums increase by at least 4 per
cent.
The domestic insurance industry in India is estimated to be around US$
60.5 billion by 2010, of which US$ 35 billion will come from rural and semi-urban
13
-
7/28/2019 ip n cp.doc
14/38
areas. While the life insurance market is expected to grow to US$ 35 billion, non-
life insurance market will touch an estimated US$ 25 billion.
KOTAK MAHINDRA OLD MUTUAL LIFE INSURANCE LTD.
Kotak Mahindra Old Mutual Life Insurance is a 74:26 joint venture
between Kotak Mahindra Bank Ltd. and Old Mutual plc. Kotak Mahindra Old
Mutual Life Insurance is one of the fastest growing insurance companies in India
and has shown remarkable growth since its inception in 2001.
At Kotak Life Insurance, we aim to help customers take important financial
decisions at every stage in life by offering them a wide range of innovative life
insurance products, to make them financially independent.
Old Mutual, a company with 160 years experience in life insurance, is an
international financial services group listed on the London Stock Exchange and
included in the FTSE 100 list of companies, with assets under management
worth $ 400 Billion as on 30th June, 2006. For customers, this joint venture
translates into a company that combines international expertise with the
understanding of the local market.
14
-
7/28/2019 ip n cp.doc
15/38
PRODUCTS
INDIVIDUAL
Kotak Smart Advantage
Kotak Eternal Life Plans
Kotak Platinum Advantage Plan
Kotak Headstart Child Plans
Kotak Sukhi Jeevan Plan
Kotak Privileged Assurance Plan
Kotak Term Plan
Kotak Preferred Term Plan
Kotak Money Back Plan
Kotak Child Advantage Plan
Kotak Endowment Plan
Kotak Capital Multiplier Plan
Kotak Retirement Income Plan
Kotak Retirement Income Plan
(Unit-linked)
Kotak Safe Investment Plan II
Kotak Flexi Plan
Kotak Easy Growth Plan
Kotak Premium Return Plan
Riders
15
http://www.kotaklifeinsurance.com/omkm3/products/ksap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kelp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kplat.htmhttp://www.kotaklifeinsurance.com/omkm3/products/headstart.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksjp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kpap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ktp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kptp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kmbp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kep.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcmp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksip2.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kfp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kegp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kprp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/riders.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kelp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kplat.htmhttp://www.kotaklifeinsurance.com/omkm3/products/headstart.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksjp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kpap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ktp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kptp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kmbp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcap.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kep.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kcmp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/krip_unitlinked.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksip2.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kfp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kegp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kprp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/riders.htm -
7/28/2019 ip n cp.doc
16/38
GROUP
Employee Benefits
Kotak Term Grouplan
Kotak Credit-Term Grouplan
Kotak Complete Cover Grouplan
Kotak Gratuity Grouplan
Kotak Superannuation Grouplan
RURAL
Kotak Gramin Bima Yojana
16
http://www.kotaklifeinsurance.com/omkm3/products/eb.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ktgp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kctgp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kccgp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kggp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksugp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/gramin.htmhttp://www.kotaklifeinsurance.com/omkm3/products/eb.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ktgp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kctgp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kccgp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/kggp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/ksugp.htmhttp://www.kotaklifeinsurance.com/omkm3/products/gramin.htm -
7/28/2019 ip n cp.doc
17/38
TABLE 1
TABLE SHOWING WHETHER THE RESPONDENTS ARE ASSOCIATED
WITH KOTAK MAHINDRA GROUP
NO OF RESPONDENTS PERCENTAGE
YES 15 19
NO 65 81
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 81% of the respondents are not
associated with Kotak Mahindra group and 19% of the respondents are
associated with Kotak Mahindra group.
CHART 1
17
-
7/28/2019 ip n cp.doc
18/38
CHART SHOWING WHETHER THE RESPONDENTS ARE
ASSOCIATED WITH KOTAK MAHINDRA GROUP
YES, 19
NO, 81
YES NO
TABLE 2
TABLE SHOWING WHETHER THE RESPONDENTS HAVE TAKEN LIFE
INSURANCE POLICIES
NO OF RESPONDENTS PERCENTAGE
YES 58 72
NO 22 28
TOTAL 80 100
INTERPRETATION:
From the above table it is clear that 72% of the respondents have taken
life insurance policies and 28% has not taken life insurance policies.
CHART 2
18
-
7/28/2019 ip n cp.doc
19/38
CHART SHOWING WHETHER THE RESPONDENTS HAVE
TAKEN LIFE INSURANCE POLICIES
YES, 72
NO, 28
YES NO
TABLE 3
TABLE SHOWING WHETHER THE RESPONDENTS ARE AWARE OF THE
POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA
NO OF RESPONDENTS PERCENTAGE
YES 75 94
NO 5 6
TOTAL 80 100
INTERPRETATION:
From the above table it is shown that 94% of the respondents are aware
of the potential of life insurance industry in India and 6% of the respondents are
not aware of the potential of life insurance industry in India.
19
-
7/28/2019 ip n cp.doc
20/38
CHART 3
CHART SHOWING WHETHER THE RESPONDENTS ARE AWARE
OF THE POTENTIAL OF LIFE INSURANCE INDUSTRY IN INDIA
YES, 94
NO, 6
YES NO
TABLE 4
TABLE SHOWING WHETHER THE RESPONDENTS THINK THAT
INSURANCE IS A GOOD INVESTMENT PLAN
NO OF RESPONDENTS PERCENTAGE
YES 72 90
NO 8 10
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 90% of the respondents think that
insurance is a good investment option and 10% of the respondents think that
insurance is not a good investment option.
20
-
7/28/2019 ip n cp.doc
21/38
CHART 4
CHART SHOWING WHETHER THE RESPONDENTS THINK THAT
INSURANCE IS A GOOD INVESTMENT PLAN
YES, 90
NO, 10
YES
NO
TABLE 5
TABLE SHOWING WHETHER THE RESPONDENTS HAVE CONSIDEREDSELLING INSURANCE AS AN ADDITIONAL BUSINESS OPTION
NO OF RESPONDENTS PERCENTAGE
YES 36 45
NO 44 55
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 55% of the respondents have
considered selling insurance as an additional business option and 45% of the
respondents has not considered selling insurance as an additional business
option.
21
-
7/28/2019 ip n cp.doc
22/38
CHART 5
CHART SHOWING WHETHER THE RESPONDENTS HAVE
CONSIDERED SELLING INSURANCE AS AN ADDITIONAL
BUSINESS OPTION
YES, 45
NO, 55
YES NO
TABLE 6
TABLE SHOWING WHETHER THE RESPONDENTS ARE DEALINGWITHNOR SELLING LIFE INSURANCE PRODUCTS OF ANY COMPANY
NO OF RESPONDENTS PERCENTAGE
YES 37 46
NO 43 54
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 54% of the respondents are not
dealing with or selling life insurance products of any company and 46% of the
respondents are dealing with or selling life insurance products of any company.
22
-
7/28/2019 ip n cp.doc
23/38
CHART 6
CHART SHOWING WHETHER THE RESPONDENTS ARE
DEALING WITH OR SELLING LIFE INSURANCE PRODUCTS OF
ANY COMPANY
YES, 46
NO, 54
YES NO
TABLE 7
CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT THEY CANEARN UPTO 40% OF THE FIRST YEAR PREMIUM AS COMMISSION
NO OF RESPONDENTS PERCENTAGE
YES 33 41
NO 47 59
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 59% of the respondents dont know
that they can earn upto 40% of the first year premium as commission and 41% of
the respondents know that they can earn upto 40% of the first year premium as
commission
23
-
7/28/2019 ip n cp.doc
24/38
CHART 7
CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT
THEY CAN EARN UPTO 40% OF THE FIRST YEAR PREMIUM AS
COMMISSION
YES, 41
NO, 59
YES NO
TABLE 8
TABLE SHOWING WHETHER THE RESPONDENTS HAVE HEARD OFKOTAK HEAD START, NO.1 CHILD PLAN RATED BY 'OUTLOOK MONEY'
NO OF RESPONDENTS PERCENTAGE
YES 25 31
NO 55 69
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 69% of the respondents has not
heard of Kotak head start, no.1 child plan rated by 'outlook money' and 31% of
the respondents have heard of Kotak head start, no.1 child plan rated by 'outlook
money'
24
-
7/28/2019 ip n cp.doc
25/38
CHART 8
CHART SHOWING WHETHER THE RESPONDENTS HAVE
HEARD OF KOTAK HEAD START,NO.1 CHILD PLAN RATED BY
'OUTLOOK MONEY'
YES, 31
NO, 69
YES NO
TABLE 9
TABLE SHOWING WHETHER THE RESPONDENTS HAVE HEARD ABOUTKOTAK SAFE INVESTMENT PLAN, WHICH INVESTS UPTO 80% OF THEFUND IN EQUITY MARKET, STILL GIVING CAPITAL GUARANTEE
NO OF RESPONDENTS PERCENTAGE
YES 43 54
NO 37 46
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 54% of the respondents are have
heard about kotak safe investment plan, which invests upto 80% of the fund in
equity market, still giving capital guarantee and 46% of the respondents has not
25
-
7/28/2019 ip n cp.doc
26/38
heard about kotak safe investment plan, which invests upto 80% of the fund in
equity market, still giving capital guarantee.
CHART 9
CHART SHOWING WHETHER THE RESPONDENTS HAVEHEARD ABOUT KOTAK SAFE INVESTMENT PLAN,WHICH
INVESTS UPTO 80% OF THE FUND IN EQUITY MARKET,STILL
GIVING CAPITAL GUARANTEE
YES, 54
NO, 46
YES NO
TABLE 10
TABLE SHOWING WHETHER THE RESPONDENTS KNOW ABOUT THEEARNING POTENTIAL BY SELLING LIFE INSURANCE PRODUCTS
NO OF RESPONDENTS PERCENTAGE
YES 69 86
NO 11 14
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 86% of the respondents know
about the earning potential by selling life insurance products and 14% of the
26
-
7/28/2019 ip n cp.doc
27/38
respondents chart showing whether the respondents dont know about the
earning potential by selling life insurance products.
CHART 10
CHART SHOWING WHETHER THE RESPONDENTS KNOW
ABOUT THE EARNING POTENTIAL BY SELLING LIFE
INSURANCE PRODUCTS
YES, 86
NO, 14
YES NO
TABLE 11
TABLE SHOWING WHETHER THE RESPONDENTS KNOW THAT THERE ISNO CAPITAL REQUIREMENT FOR STARTING INSURANCE DISTRIBUTION
NO OF RESPONDENTS PERCENTAGE
YES 65 81
NO 15 19
TOTAL 80 100
INTERPRETATION:
From the above table it is inferred that 81% of the respondents know that
there is no capital requirement for starting insurance distribution and 19% of the
27
-
7/28/2019 ip n cp.doc
28/38
respondents know that there is no capital requirement for starting insurance
distribution.
CHART 11
CHART SHOWING WHETHER THE RESPONDENTS KNOW THAT
THERE IS NO CAPITAL REQUIREMENT FOR STARTING
INSURANCE DISTRIBUTION
YES, 81
NO, 19
YES NO
TABLE 12
TABLE SHOWING WHETHER THE RESPONDENTS LIKE TO ASSOCIATEWITH KOTAK LIFE INSURANCE
NO OF RESPONDENTS PERCENTAGE
YES 20 25
NO 60 75
TOTAL 80 100
INTERPRETATION:
28
-
7/28/2019 ip n cp.doc
29/38
From the above table it is inferred that 75% of the respondents like to
associate with kotak life insurance and 25% of the respondents do not like to
associate with kotak life insurance.
CHART 12
CHART SHOWING WHETHER THE RESPONDENTS LIKE TO
ASSOCIATE WITH KOTAK LIFE INSURANCE
YES, 25
NO, 75
YES NO
FINDINGS
Majority of the customers are not associated with the Kotak group
companies. Only 19% are associated with Kotak group companies.
It is found that around 72% of the respondents have taken any life
insurance policy from several life insurance companies and the rest are
not insured.
It is found that 94% of the respondents are aware of the potential of life
insurance industry in India and 6% of the respondents are not aware of
the potential of life insurance industry in India.
29
-
7/28/2019 ip n cp.doc
30/38
Majority of the respondents think that insurance is a good investment
option because of high returns and less risk.
It is found that 55% of the respondents have considered selling insurance
as an additional business option and 45% of the respondents has not
considered selling insurance as an additional business option.
It is found that 54% of the respondents are not dealing with or selling life
insurance products of any company and 46% of the respondents are
dealing with or selling life insurance products of any company.
Almost all the customers are satisfied with services provided by their
insurer.
Around 59% of the respondents dont know that they can earn upto 40%
of the first year premium as commission and 41% of the respondents
know that they can earn upto 40% of the first year premium as
commission.
Majority of the respondents are not aware of Kotak head start, no.1 child
plan rated by 'outlook money'.
Majority of the respondents have heard about kotak safe investment plan,
which invests upto 80% of the fund in equity market, still giving capital
guarantee.
Majority of the respondents do not want to associate with kotak lifeinsurance.
30
-
7/28/2019 ip n cp.doc
31/38
SUGGESTIONS
The company has to spend more on marketing expenses to increase
awareness among population on Kotak head start, no.1 child plan rated by
'outlook money' and kotak safe investment plan.
The company has to identify segments such as NRIs,house wives and
pensioners to increase the penetration among life insurance advisors.
The company has to concentrate more on acquiring people who are
associated with other insurance companies to penetrate the market.
31
-
7/28/2019 ip n cp.doc
32/38
The company has to go in-depth into the customer data base of kotak
group companies to acquire more customers.
Proper advertisements and clear-cut picture about the schemes are to be
provided to attract customers.
LIMITATIONS
1. DIFFICULT TO GET APPOINTMENT
Getting the appointment to speak about product and company is a
Herculean task in the modern world because of the hectic schedule of the
business people as the target group is High Net Worth.
2. TIME CONSTRAINT
32
-
7/28/2019 ip n cp.doc
33/38
For getting better results, the researcher has to schedule their work
beyond the allotted time. But this cannot be possible in all circumstances. In
many occasions meeting location of the people might be different. This
consumes lot of time of a day and it minimizes the work schedule. And there is a
big time gap in making a kind of good relationship with customers which makes a
strong basement for doing survey. So it is very difficult to get business in initial
stages. In this way there is a lose of opportunities for making business. Traveling
though out the city and its traffic blocks are another barriers in the survey.
3. SINGLE BRANCH OPERATIONS AND DIFFERENTIATED FACILITIES AND
SERVICE
Many times the single branch operations are not convenience for the
customers especially the people who are doing business with other locations.
When there is a company introducing new facilities and service, it takes a quiet
bit of time to get faith of the people.
CONCLUSION
On a whole the project is a eye opener towards the practical side of the
business scenario. The knowledge acquired through classroom sessions could
be put to use in a real practical world. This serves as the right platform for
professional development. The first hand experiences of the corporateatmosphere and the culture practiced gave an insight into the true professional
attitude.
33
-
7/28/2019 ip n cp.doc
34/38
As a result of the hard-core work and efforts made t overcome many
hurdles and obstacles on the path of the project work, better results are obtained
and the company realizes the results of our work through the materialization of
sales of their product. Also from the responses of the public that is conveyed to
the organization as a part of project work, really help the company in their work
process. In this way itself many customer complaints are sold up to a remarkable
extent. The types of marketing strategies adopted by us really help the
organization to boost up their brand image and there by resulted in better returns.
REFERENCES
BOOKS
1. Marketing Management PHILIP KOTLER
2. Introduction to Quantitative Methods C.R.KOTHARI
WEBSITE
www.kotak.com
34
http://www.kotak.com/http://www.kotak.com/ -
7/28/2019 ip n cp.doc
35/38
www.indiainfoline.com
www.wikepedia.com
QUESTIONNAIRE
Date of data collection :
Name of the concerned person, designation :
Name of the company :
Contact address
1. Have you associated any way with Kotak Mahindra Group?
35
http://www.indiainfoline.com/http://www.wikepedia.com/http://www.indiainfoline.com/http://www.wikepedia.com/ -
7/28/2019 ip n cp.doc
36/38
Yes no
2. Have you taken life insurance policies?
Yes no
If yes, with which company?.........................................................
If no, would you like to take now?..................................................
3. Are you aware of the potential of life insurance industry in India?
Yes no
4. Do you think that insurance is a good investment option?
Yes no
5. Have you considered selling insurance as an additional business option?
Yes no
6. Are you dealing with, or selling life insurance products of any company?
Yes no
If yes, with which company?..................................................................
If no,would you like to start insurance distribution?...............................
7. Are you satisfied with the service and support they provide?
36
-
7/28/2019 ip n cp.doc
37/38
Yes no
8. Do you know you that you can earn up to 40% of the first year premium ascommission?
Yes no
9. Are u aware that there is no capital required for starting life insurancedistribution?
Yes no
10. Have u heard about Kotak safe investment plan which invest up to 80% ofthe fund in equity market but still gives capital guarantee?
Yes no
11. Have you heard about Kotak Head Start, No.1Child plan in India rated byoutlook money?
Yes no
12. Would you like to get associated with Kotak life insurance?
Yes no
37
-
7/28/2019 ip n cp.doc
38/38
- Thank you -