new scan 0001

8/14/2019 new scan 0001

1/10

.-

From :KISHANKUMAR J . SOLANKIClo MANOJ SOLANKIB TIRUPATI APPTS 16 SANGAM SOCAMBAWADI HIRABAUG CROSSINGAHMEDABAD - 380015GUJARAT STATE, IND IAe-mal l: [email protected]

Mob . + 971 507396163 (UAE) I +91 9727999034 (India)

1s t September 2009

To,

The Coordinator (Projects) ,School of Management Studies ,IGNOU ,

Maidan Garhi ,New Delhi-110 068 .

Subject: Submission of Project Proposal for MS-100 (Student Enrolment no. MP - 909150356)

Dear Sir ,

With reference to the above , please find attached following:

1. P roforma for Appro va l of Pro ject Proposal duly signed by me & the Project Guide

Synop s is of projec t P rof50s a l (4 pages) duly signed by -me & project Guide3. De ta ile d Bio-da ta of the Project Guide Mr . Chetluru S. Ravi , duly signed by him

4. Copy of Re-registration acceptance at IGNOU Regional Centre , Ahmedabad dated 14/1/2009

Kindly note that my recorded address is as stated above, but I frequently visit Dubai , UAE & intend totake up employment there shortly & hence taken up project relating to UAE with project guide who iswell experienced Professional working in Insurance sector in UAE.

Kindly requested to approve my Project proposal at the earliest and enable me to complete the ProjectWork MS-100 a t the earliest.

Thanking you

Yours faithfully

MP Regn no . 909150356

Encl : As above

8/14/2019 new scan 0001

2/10

Project Proposal No. 6L (] :> '3. ~(To be assigned by the School)

I M BA

School of Management StudiesINDIRA GANDHI NATIONAL OPEN UNIVERSITY

Maidan Garhi, New Delhi -110 068

PROFORMA FOR APPROVAL OF PROJECT PROPOSAL (MS - 100)

Enrolment No. 909[50356 Study Centre: LD Arts College, Ahmedabad (0901)

Regional Cent re: Ahmedabad (09)

Name and Address of the Student KISHANKUMAR 1. SOLANKIC/o MANOJ SOLANK[

B TIRUPATI APPTS 16 SANGAM SOC f'~ \i\M BA WAD I H IRABAUG CROSSING \

8/14/2019 new scan 0001

3/10

Synopsis of the Project Proposal

1 . Project Title: Study of Consumer Behaviour in Insurance

Services related to Construction Sector in UAE

3. Rational for the Study:

2. Subject Area: Marketing Management

The _Construction Sector is vital and vibrant part of the Economy in United ArabEmirates (UAE). Various Construction Projects in UAE are of high value and long

duration which involve complex execution process . Also there is high concern forsafety & environment protection. These factors make the Construction sector inUAE as one of the highly risky business operations.

To mitigate high risks involved, Insurance of various kind viz. Contractor's All Riskincluding Third Party Liability, Plant & Machineries , Workman Compensation,Professional lndemnlty.etc are mandated Contractually by various participants ofthe Construction Sector . The UAE is one of the largest insurance markets in theidd l Eas t Co untries . In 2008 , total premiums in the UAE market were aro, ;;.u~n;.d;;"""" '__ -'I.EO 15 billion. As per Hie market forecast the insurance market is growing by

more than 15 % per annum. There are about 50 Direct Insurance firms and morethan 200 Intermediaries in UAE engaged in providing insurance services ofvarious kinds . This has enthused to take up the study of Consumer Behaviour inInsurance services related to Construction Sector in UAE

4. Objectives of the Study :

The Construction Sector is vital and vibrant part of the Economy in Un ited Arab

Emirates (UAE) . The main objective behind the project is to study and identify

consumer buying Behaviour regarding various type of insurance requirements of

the Construction Sector in UAE . It is expected that th is study wi ll help the

company managements of Insurance Provider organizations to study the analysis

and understand the behavior of consumer of their Insurance related services that

will ultimately enable to effectively market their product & services.

Synopsis of Pro ject Proposal by Kishankuma r J. Solanki - MBA Student of IGNOU - enroliment no . 909150356

Page 1 of 4

8/14/2019 new scan 0001

4/10

5. Research Methodology to be used for carry out the study:

It is pla nn ed to adopt following approach to carry out the study :

a . Nature of data ,

Beside the above main objective, there are following sub-objectives of this study :

a . To identify the influence of different characteristics/features of various

Insurance Policies on Consumers in different segments of Construction

Sector viz . Contractors, Consultants, Developers, and Owners operating in

UAEb. To find out there is any brand loyalty & if so, why consumer prefer

particular brand of Insurance policies? and Which are the factors that

influence and motivate him to buy the preferred brand of the Insurance?

c. To get a better understanding of Insurance Market in UAE.

d. To find the most preferable brand among the various type of Insurances

and to find which brand enjoy the market leadership position

e . To help the Company Marketing Managers to Design an Effective

Marketing M ix for it target Customers

f. Last, but not the least, to help the student of this study to gain more insight

of Insurance which help him to perform better in his current job besides

helping to fulfill requirements of coveted degree of MBA in Marketing

Management.

It is planned to obtain following details from the survey :

i. Overview of various categories of consumer of Insurances

ii. Major types of Insurances taken by Construction Sector

iii. General Consumer profile

iv. Satisfaction level with the current Insurance Providers

v. General process of decision making in the consumer organisation

vi. Reason for the selection of specific insurance policy and provider

vii. Desirable features of the product and risk aptitude

Synopsis of Pro ject Proposal by Kishankumar J . Solank i - MBA Student of IGNOU - enrollment no. 909150356

Page 2 of 4

8/14/2019 new scan 0001

5/10

The data sources shall be categorized into two categories - Primary andSecondary :

b. Data Sources ,

Primary Data : Primary data are those, which are collected for the fi rst time ,

and they are original in characte r. A suitable comb ination of Questionnaire ,

techniques & discussion with the respondents w ill be used to collect the

required Primary data. Primary data gives higher accuracy and facts, which

is very helpful for any research and its f indings.

Secondary data: - The secondary data are those , which are already

collected by someone for some purpose and are available for the presentstudy . Secondary data will be collected from the magazines , websites and

other such sources .

Questionnaire Pie Charts Bar Diagrams

c. Data Collection Methods,

Ques tionna ire method:- Primary data will be co llected by survey ing theres pon dent personally. It is planned to use both the Close & Open Endedue s tien whe re he resear cher is free to answer in the ir own words tou ~.------~--~

d. Tools and Techniques of Analysis , Samp ling

Sample Size will be around 100 respondents and convenience samplingmethod will be adopted

The main statistical tools planned to be used for the collection and analyses ofdata in this project will be :

Synopsis o f Project P roposal by Kishankumar J. Solanki - MBA Student of IGNOU - enro llmen t no . 909150356

Page 3 of 4

8/14/2019 new scan 0001

6/10

6. Theex~ected contribution from the study:

The study will help the both the consumer of the Insurance as well as InsuranceService provider in UAE.

The Consumer of the Insurance will appreciate various options available to them.This will help them to choose from the Insurance providers who meet theirrequirements at optimum cost to them.

The Insurance service providers will be able to better understand the needs of theConsumers of their products and how various features of their insurance policiesaffects buying decision of the Consumers. This will help them review theirmarketing strategies in order to better marketing of their products

7. Limitations. if any:

Since the current study will be exploratory & cross-sectional in nature, it identifiesthe buying behaviour of Consumers of Insurance services in UAE as a snapshotonly. Also, the sampling method used is convenience sampling due to time & costrestrictions, and hence may not provide accurate results. The user of the study isadv ised to have further in-depth analysis to confirm the results obtained under this ;-- ._ . . , . . . .. . .- _ . . . .. - --s tud y. Atso , iorrgitodingj stO(r r(s ~ame corrsu . ers o ver a period of time) may alsobe required to determine how the buying behaviour of consumers changes over aperiod of time.

8 . The direction of future research:

The current study provides only a Cross sectional perspective on general buyingbehaviour of consumers of Insurance services. Further study on longitudinalsection basis may provide useful information to know the time effect on buyingbehaviour . Also, detailed studies can be undertaken on why the consumerbehaves in particular way - to further explore deep reasons that may help fine

tune the marketing strategies of Insurance service providers.

Synopsis of Project Proposal by Kishankumar J. Solanki - MBA Student of IGNOU - enrollment no. 909150356

Page4 of4

8/14/2019 new scan 0001

7/10

Chetluru S. Ravi

25 yrs of Work Experience in highly competitive Insurance industry.

Work Experience

Vice President - Technical /Corporate Relations - 01 5t Mar.2009 - Till dateInsure Direct (Brokers) llC (A Dubai World Group Company)

Managing and overseeing the entire Technical & Corporate Relations Operations

Technical/Corporate Relations Manager: Dec.200S- 01 Mar.2009Insure Direct (Brokers) LlC (A Dubai World Group Company)

Principal Accountabilities:

Managing and Servicing Corporate Clients' Insurance portfolios Advisory services to various Project Insurances - Nakheel and other construction

Companies. Praviding Technical advises to clients on various insurance matters.

Renewal planning & placements Developing and maintaining relations with the International Markets for placements

directly in International Markets for certain high valued Projects of Nakheel /Limitless . Maximize the revenue contribution to the Employer by way of negotiating for higher

commissions with Insurers

Field Force, Office Backend support staff - Training & Development. Innovation in marketing strategies to increase awareness amongst the Insuring

popul at ionArran ging/Placing Reinsurance Treaties for certain specializes classes of Insurance likeMotor High Performance Vehicles, Pleasure Craft/Yacht, Professional Indemnity Insurance

and Personal lines business Technical Assistance to Claims Department and claims negotiatian with Insurers and

clients

Conducting Operational Training for the Staff Organizing Presentation to Clients on Risk Management & Insurance

Deputy Manager - Broker Relations Aug. 2002 - Nov. 2005Dubai National Insurance, Oubai - Handling Direct & Broker Portfolio of AED 60 Million

Accountable for increase in Broker and Direct business and Customer service Ensuring quality brokers and customers with prudent professional insurance practices Ensuring systematic collection process to have Bad debts and Churn under control. Expanding Marketing network in line with Company principles to give better service to

customers. Establishing relations with International markets for arranging Fac RI placements. Ensuring customer delight in al / act ivities in sales and customer service . Encouraging good initiatives from the team and keep them engaged & motivated.


8/14/2019 new scan 0001

8/10

2

Instrumental in optimal utilization of resources to keep up the achievement, in line withMarket forces

Innovation in marketing strategies to increase awareness amongst insuring Population. Training & development of the Team on the job and off the job . Developing Tailor-made products in line with customer expectations Ensuring all Channel partners adhere to the principles of the Company.

Keeping in touch with the trade through regular Broker Relation programmes for Brokersand Customer seminars, with Customers through customer interface programmes andpersonally meeting up with top Corporates & Brokers.

Muscat Insurance Company, Muscat - Sultanate of OmanSenior Underwriter - Underwriting July 2000 - June 2002Turnover: OMR 10 million per annum

Following and implementing Prudent underwriting practices by way of setting professionalStandards in accepting risks

Coordinating with all other departments to act as a fo col point for all thei r insurance needsand service the client in maximum satisfaction

Reporting to management as to the production and servicing Developing Insurance Policies based on the clients requirements


Underwriting of Major risks including Industrial risks

Manpower Development Handle 7 executives, ensure discipline among executives, monitor route Marketing I

_ .-_-..;. . -= -,- Broker ac tiviti es thr ough executives. Develop execut ives to handle market independently and effectively

_-_- -_0 - -

Feedback

Ensure customer feedback from sales activ ities . Procure information on competitors' activities.

United India Insurance, Tamil Nadu, India ~March 1985-June 2000Asst.Divisional Manager(Short listed as Branch Manager in a rural branch prior to my resignation)


1. Accountable for the claims and underwriting of all classes of insurance in the specificDivisional office

2. Meeting the Company's D ivisional annual Business plans comprising of Volume Targets,New Direct Business Targets, Agents appointment, Branch coordination

3. Handling of technical & Sales team in the Division4. Prov iding timely inputs through on the job train ing programmes, motivating the Sales

team to have a better performance , building relations ship with the trade .

8/14/2019 new scan 0001

9/10

35. Devising Strategies in line with Company's objectives and to review it on 0 daily basis to

have the best outputs.6. Exercising prudent underwriting measures so as to eliminate bad risks7. Have better hold on Market Intelligence to facilitate Proactive measures in combat ing

competition.

Kev Initiatives Identify Areas of growth and develop tailor -mode Package Insurance covers to suit theneeds of the Clients and devise strategies for aggressive marketing plans .

Effective tracking and monitoring of Business Volumes status on a periodic basis .

Personal

Office Address:

Vice President - Technical I Corporate RelationsInsure Direct (Brokers) LLCPO Box: 57006, Dubai , UAETel.: Direct: +971 44339419

Mobile: +971- 50- 640 5983Email: [email protected]&[email protected]

Passport Details: Indian Passport No : E 8176860, Valid till 17/05/2014

Age & DOB: 45 Yrs & 04/07/1964.Ma rita l Status: Married .Lang uage s Kn own: E nglish , Tamil , Telugu, and Hindi.

B 'an

~ Mas te r of Business Administration from Madras University - India - 1998~ Master of Public Administration - MA (PA) - Madras University, India -1990~ Bachelor of Science ( Physics) from Madras University -India - 1984

~ Fellowship in Insurance from Insurance Institute oJ India, India - 1990~ Pursuing ACII (London) and only 2 Papers to be completed~ PG Diploma in Computer Applications from Private Computer Institute, India

Other activities

~ Conducted various training programmes for Staff and outside organisations onHuman Relations Management & Insurance - Risk Management

~ Conducted private Tuit ion classes for Higher Secondary and College students .

8/14/2019 new scan 0001

10/10

Adrnission/Regi stration Detail s

Indira Gandhi National Open Universit y

Admission / Registration Detai ls for January 2009 Sess ion

Status as on : March 12,2009

(For information only)Tuesda y, March 17,20095:05:01 PM

Enrolment No.: 909150356 Program: M PRStudy

09 Code: 0901egion:

Medium:

KISHANKUMAR J SOLANKIC/O MANO J SOLANKIB- TIR ;PATI APARTME TS

'------- 1 :: ;"":6 x: -GA: I SOCIETY AMB .:;:,A....,.,W=A-D",...I~---A.1ThlEDABAD-380006

GUJARAT

IIF=c=o=u=rs=es=R=e=g=is=te=r=ed========= IF==~n=~nf=m=~~=!=:n~dl=R=em=ar=k=s===1

\100 1114/112009 1 1 1

http://stuinfo .ignou. ac.in lAdm2009 Jan . asp

Page 1 of 1

17/03/2009

new scan 0001

Documents