Name : Rahul Katyal Mobile No : 9971454369

Enrollment No: 08BS0002504 E-mail ID: rahul.katyal5@gmail.com

SUMMER INTERNISHIP PROGRAM Project Proposal (To be submitted on or before 19th march 2010) 1.Project Proposed :Market research to determine consumers perception and their buying behavior towards life insurance with an emphasis on HDFC Standard Life Insurance and comparative study between HDFC Standard Life Insurance and other companies and recruitment of Financial consultants.

project will find out the response of the customers towards life insurance and their buying pattern with a special focus on the HDFC Standard Life Insurance.The various segments of the market divided in terms of insurance needs,age groups,satisfaction levels etc will be studied. Based on findings from the research comparison of HDFC Standard Life Insurance will be done with other companies.This project will determine the type of plans that HDFC standard life should market to beat its competitors.The project includes market survey which will be done by interviewing the customer either through telephone or personal interview.Questionare will be used where the prospective customers will be asked to answer certain questions related to life insurance.The questionare can be sent to the person either through email or by personally going to the customers place and getting it filled by him.The research will be done by taking a large sample size of about 200 or more respondents.A large sample size will provide more clarity on the various aspects of life insurance which will help in fulfilling this project.This project will help to understand the preferences of customers towards life insurance.While marketing policies the sole duty of an advisor or agent is to provide insurance plans as per the customer requirements.In effect plans(insurance products) should be flexible to suit individual requirements.This project will determine what the customer looks for while buying life insurance.In other words the project will find out the purpose of the customer behind buying a life insurance.The project will also find out the response of the customers who have already purchased the life insurance plan.The project will try to find out their response towards that particular plan they have purchased and that particular life insurance company from where they have purchased that plan.This will further help in comparing HDFC Standard Life Insurance company with other companies and will provide HDFC Standard life with valuable information which will help it in marketing its plans in an effective manner to beat its competitors.This valuable information will help HDFC Standard Life Insurance company to identify its strengths and weaknesses and determining the

2.Description of the project :- This

areas which require improvement.This valuable information obtained through research will help HDFC Standard life to gain competitive advantage over other private companies.As described above the life insurance market is segmented as per the needs and age group,people of different age groups have different needs.The project will also try to find out the needs of a particular age group which influences the decision of this particular age group to buy the life insurance plan.Apart from needs or requirements the research will also try to analyze some other key factors which influence the purchase of insurance like the term of the policy,the type of company,the amount of annual premium payable(capability and willingness to spend),risk taking ability and the influence of advertising.Solutions and recommendations are made based on qualitative and quantitative analysis of data.The project will also analyze the threats and opportunities facing the insurance sector. The project will also find out the response of people towards becoming a Financial Consultants and educating them with benefits of becoming a financial consultant.The project will also lay emphasis on recruiting capable financial consultants for growth prospects and guiding potential customers as financial consultants have maximum influence on customers.They are the one who introduce the prospect to different policies.The project will try to find out how HDFC Standard Life can increase its market share despite tough competition from LIC which has the highest market share and other private players who are also trying to gain the market share in this rapidly booming insurance sector.

3. Objective of the project:- This project will fulfill the following objectives:1.To determine the customer perception towards life insurance and educating them how important life insurance is,determining their perception towards private insurance companies with HDFC Standard Life Insurance company in focus and their expectation from private life insurance companies and the most preferred plans they would like to go for like childrens plan,pension plan or any other plan and the reason behind it. 2.To educate people to become financial consultants by telling them the benefits like commission which an insurance agent gets and also determining the importance of recruiting capable financial consultants.

4.Methodology:- For this project research methodology used will be primary data
collection through techniques such as personal interviewing,telephonic interviews and survey through questionare for customers.Secondary data collected from journals,magazines and websites will also be used for completion of this project.

5.Schedule :Date
Feb 8,2010 Feb 15,2010

Activities
Taking IRDA training

Objectives
To know details about the insurance sector and giving 50 hours training for preagent examination. To know about all insurance products available in HDFC Standard life insurance. To become a financial consultant of HDFC Standard life insurance company and getting IRDA license.

Feb 16,2010 Feb 16,2010

Taking product training

Mar 3,2010

Giving IRDA exam

From Mar 3,2010 till the end of internship.

Getting practical corporate Necessary for completion of environment. the project and to know Collection of data and about the actual evaluation of these collected environment that exists in data the corporate world. Doing a market research To know the perception of people towards life insurance and various private life insurance companies. To make available all the information and progress of the project.

April 16,2010

Submission of Interim Report

Submission of Final report May 14,2010

Completion of the project.

6.Limitations of the study:1.Time for completion of the project is not enough to do an in depth study. 2.The perception of the respondents may be biased,imaginary and may be based entirely on their personal experience. 3.Questionare that will be used in the research will be close ended which reduces the scope for people to give free opinion. 4.The sample size to do the study may not be enough to reach any exact conclusion. 5.Study may be based on primary and secondary data that may not be true.Most of the people dont give the right data.

7.References :1.www.hdfcinsurance.com 2.www.bimaonline.com 3.www.irdaindia.com 4.www.google.com 5.www.bseindia.com 6.www.bajajcapital.com 7.www.nseindia.com 8.www.indiainfoline.com Brochures and magazines like India Today and Business World

Faculty Guide Name- Prof Vikram Sharma Company Guide Name- Mr. Gaurav Gupta

Date:- March 19,2010

Signature of the student