Download - Project at birla sun life
Renny M P Reg. No: 09MSB05005 MSB - Hydeabad
PROJECT GUIDE
Prof. BIJI. P. THOMAS
Academic Head
Magnus school of Business
Kochi.
COMPANY GUIDE
Ms. SUBHALAKSHMI P R
Agency Manager
Birla Sun Life Insurance Co. Ltd.
Thrissur.
INVESTOR PREFERENCES FOR BIRLA SUN LIFE PRODUCTS
OBJECTIVES:
1. To study Investor preferences for different investment options and their reasons.
2. To study Investors’ choice among the plans of Birla Sun Life Insurance Company Ltd.
3. To identify the potential customers and sell the products.
INTRODUCTIONINTRODUCTION
LIFE INSURANCE INDUSTRY1. Protection of economic value of assets2. Reduce the effects of adverse situations3. Insurance business
• Life • Non-life or general
4. Three steps in business of insurance:a) Group (sharing risk)b) Collect the share or contribution (premium) c) Pay out compensations (claims)
5. Fields of application• Family • Special needs• Wealth appreciation• Old age• Children
ABOUT BIRLA SUN LIFE
• Established in 2000.
• Aditya Birla Group + Sun Life Financial Inc.
• Ranks amongst the top 5 private Companies.
• Extensive reach: 600 branches, 1,75,000 advisors, more than 2 million investors, in1500 towns and cities in India, capital base of Rs. 2000 crores.
• Values: • Speed• Seamlessness• Passion• Commitment• Integrity
RESEARCH METHODOLOGY
Scientific Endeavor • Approach and analyze responses for desired result • Discovering new facts • Verifying and testing existing facts• Analysis of sequences, interrelationships and causal explanations
Data Type• Primary • Secondary data
Source of Data Primary → Employees, businessmen, agriculturalists, etc. Secondary→ Company brochures
•IRDA books and magazines •Internet
Tools for Data Collection • Questionnaire and Interview
Population •Potential investors in Thrissur District
Sampling design•Non probability sampling
Sampling period • One month (4th January — 4th February, 2010)
Sample size • 120 respondents
DATA ANALYSIS AND
INTERPRETATION
Age (years) Up to 25 25 - 35 35 - 55 55 and above Total
Number 18 42 48 12 120
Percentage 15% 35% 40% 10% 100
15%
35%40%
10%
AGE GROUP OF THE RESPONDENTS
Up to 25
25 - 35
35 - 55
55 and above
Age Group of the Respondents
Nature of Family Nuclear Family Joint Family
Number 98 22
0
20
40
60
80
100
120
Families
98
22
Joint Family
Nuclear Family
Nu
mb
er o
f R
esp
onde
nts
FAMILY TYPE OF RESPONDENTS
Nature of Family
Annual Income Up to Rs. 1.2 lacs Rs. 1.2–Rs.1.8 lacs Rs. 1.8–Rs. 2.4
lacs Rs. 2.4 lacs and
above
Number 21 49 37 13
0
10
20
30
40
50
Up to Rs. 1.2 lacs
Rs. 1.2–Rs.1.8 lacs
Rs. 1.8–Rs. 2.4 lacs
Rs. 2.4 lacs and above
21
49
37
13
Num
ber o
f Res
pond
ents
Annual Income
Views Inevitable Needed Somewhat needed Not at all Total
Number 56 31 23 10 120
Percentage 47% 26% 20% 7% 100%
47%
26%
20%
7%
ROLE OF INVESTMENT FOR SUCCESSFUL LIFE
Inevitable
Needed
Somewhat needed
Not at all
The Role of Investment for Successful Life
Response Familiar Not Familiar Total
Number 108 12 120
Percentage 90% 10% 100%
YES90%
NO10%
FAMILIARITY WITH INSURANCE PRODUCTS
Familiarity with Insurance Products
Preferences for Investment OptionsPreferences Bank FD Real Estate Insurance Gold Chit Fund
Mean Value (Max- 5) 4.25 3.86 3.65 3.12 2.23
Bank FD Real Estate
Insurance Gold Chit Fund
4.25
3.863.65
3.122.23
Investor preference for DifferentInvestment Options
Bank FD
Real Estate
Insurance
Gold
Chit Fund
1
2
3
4
5
Reason for Investment OptionsReason for Investment Mean value ( Max- 5 )
Security 4.13
Risk Cover 3.63
High Returns 3.92
Tax Relief 3.30
Easy Liquidity 3.70
0
1
2
3
4
5
Security Risk Cover High Returns Tax Relief Easy Liquidity
4.13
3.63
3.92
3.33.7
Reasons for Investment
Mea
n V
alu
e
Having any Insurance Policy at present
Status YES NO Total
Number 76 44 120
Percentage 63.33% 36.67% 100
63. 67%
36.67%
Insurance Policy Holders
YES
NO
Insurance Policy Holders
Rating Birla Sun Life Insurance PlansPlans Mean value ( Max – 5 )
Saral Endowment Plan 2.98
Child Dream Plan 3.73
Dream Retirement Plan 3.01
Saral Health 3.81
Titanium Plus 2.75
00.5
11.5
22.5
33.5
4
Saral Endowment
Child Dream Dream Retirement
Saral Health Titanium Plus
2.98
3.73
3.01
3.81
2.75
Rating Birla Sun Life Products
Me
an
Va
lue
Level Excellent Very Good Good Satisfactory Total
Number 34 48 26 12 120
Percentage 28.33% 40% 21.67% 10% 100%
28. 33%
40%
21. 67%
10%
Performance Level
Excellent
Very Good
Good
Satisfactory
Performance Level of the Company
FINDINGS• Most of the respondents prefer to invest FD in bank as first priority and then in Real Estate. Insurance is the next preference.
• Respondents give first priority to security for their investment. Second reason for Investment option is high returns. Therefore, Insurance is well appreciated.
• Saral Health plan and Dream Child plan of Birla Sun Life are mostly preferred by investors
• There are four potential investors identified during this Organizational project.
• Birla Sun Life provides good services and performs at its best – it has got an excellent rating by the respondents.
SUGGESTIONS
• The Company to concentrate more on advertising on Internet and other media.
• Birla Sun Life should preferably have an integrated plan to cover entire family members together.
• More emphasis on training.
LEARNINGS • Learned about Insurance Industry and its relevance
• Could understand Birla Sun Life Insurance Company, their very attractive and specific plans and the functions
• Interacted with 120 potential investors and acquired good exposure in Sales
CONTRIBUTION
• Four sales were realized during this project:
3) Plan : BSLI Saral Health Policy Term : 10 pay/20 term Total Sum Assured : 10 Lacs Annual Premium: Rs. 16168/-
2) Plan : BSLI Dream Child Policy Term : 10 Years Basic Sum Assured : 10 Lacs Enhanced Sum Assured : 5 Lacs Annual Premium: Rs. 16328/-
1) Plan : BSLI Dream Child Policy Term : 14 Years Basic Sum Assured : 5 Lacs Enhanced Sum : 5 Lacs Quarterly Premium: Rs. 3786/-
4) Plan : BSLI Saral Health Policy Term : 10 pay/20 term Total Sum Assured : 10 Lacs Half year Premium: Rs. 10960/-
• Logged in the above 4 policies worth Rs. 756176/- and collected its first premiums for the Company.
ACHIEVEMENT :
I could earn Rs. 9750/- as incentive for the first premiums worth Rs.47242/-
CONCLUSION
• Got first hand information on investor specific plans of BSLI
• Insight into the various aspects of investor preferences
THANK YOUTHANK YOU