Introduction
Industry Profile
Company profile
Product profile
2-11
2
Need of the study
Scope of the study
Objective of the study
12-13
3
Research Methodology
15
4
Data Analysis & Interpretation
17
5
Finding
28
6
7
Conclusion & Recommendation
Limitations of study
29
30
8
Suggestion
31
9
Bibliography
32
10
Annexure
36
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KOTAK LIFE INSURANE COMPANY
INTRODUCTION
Wherever there is uncertainty there is risk. The risk cannot be averted. The risk is uncertainty of
the financial loss. We don t have any command on uncertainties. This makes it essential that we
think in favor of a device that becomes instrumental in spreading the loss. It is in this context that
we think about insurance.
Protection against the possible chances of generating uncertain losses. It eliminates worries and
miseries of losses or destruction of property and death.
Life insurance is a contract between you and a life insurance company. Which provided you a
death during the contract term?
Buying insurance is extremely useful if you are the principal earning member in the family
unfortunate premature demise, your family can remain financially secure because of the life that
you have purchased.
The primary purpose of life insurance is therefore protection of the family in the even insurance
is also seen as a tool to plan effectively for your future years. Your retire children s future needs.
Today, the market offers insurance plans that not just cover your same time grow your wealth
too. If you have dependents and financial responsibilities toward them, then you
Certainly need.
Having a family means dependant, which in turn means financial commitments. Finance comes
in the form of loans, children s education,medical expenses etc. Imagine what would happen if
you were to lose your life suddenly or become disabled being insured in a situation like this is a
necessity.
Most insurance plans available today come with a savings element built into it. These policies
not only for a financially independents future, which were have a comfortable retirement. Kotak
preferred Retirement Plans meet your dual financial goals of life cover and savings for the future
Collateral security.
Life was t designed to be risk free. The key is not to eliminate risk, but to estimate it accurately
and manage it wisely.
Insurance sector have characteristic that give can boost to the growth of any economy .it is due to
the savings done at the individual level and at micro level it generates funds for infrastructure
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KOTAK LIFE INSURANE COMPANY
building as the cash flow is constant while the payout is differed, so that the insurance companies
are becoming biggest investors in long gestation infrastructure development projects and hence
have a great Importance to the developing economy likeIndia.
Insurance sector with an annual growth rate of 15-20% and the largest number of life insurance
policies in force, the potential of the Indian insurance industry is huge.
INDUSTRY PROFILE
The industries, businesses and individuals are considerably by the services of insurance
organization.
A. The oldest form of insurance (12th century) is marine insurance. After wards in 16th century
fire insurance is started in Germany.
B. The first registered life office was Hand in Hand Society established in 1696.
C. In India the first life insurance was started in the Bengal Presidency in 1818 knows as oriental
life insurance company.
D. Experiencing so many ups and downs the insurance business was found in changed shapes.
Particularly after attaining independence and to the more specific after nationalizing in 1956.
E. There was major change in the insurance sector after globalization in 2001. The private player
in the insurance industry and ends the dominance of LIC.
F. The different MNC s company of foreign country enters in the insurance industry with the
joint venture with Indian companies. Today total 11 private life insurance companies are working
in insurance industry.
HISTORY
1912: the Indian Life Assurance Companies Act enacted as the first stature to regulate the life
insurance business.
1928: the Indian Insurance Companies Act enacted to the government to collect statistical
information about both life and non-life insurance businesses.
1938: Earlier legislation consolidated and amended to the insurance Act with the objective of
protecting the interests of the insuring public.
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KOTAK LIFE INSURANE COMPANY
1956: 245 Indian and Foreign insurers and provident societies taken over by the central
government and nationalized. LIC formed by an Act of Parliament, viz. LIC Act, 1956, with a
capital contribution of Rs. 5 core from the Government of India.
COMPANY PROFILE
About Kotak Mahindra Old Mutual Life Insurance Ltd
Kotak Mahindra Old Mutual Life Insurance Ltd is a 74:26 joint venture between Kotak
Mahindra Bank Ltd., its affiliates and Old Mutual plc. The company started operations in 2001,
and strives to offer its customers outstanding value through high customer empathy, consistent
and benchmarked service and a suite of products that leverage the combined prowess of
protection and long term savings. The company covers over 4 million lives and is one of the
fastest growing insurance companies in India.
About Kotak Mahindra Group
Established in 1985, the Kotak Mahindra group is one of India's leading financial services
conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship
company, received a banking license from the Reserve Bank of India (RBI). With this, KMFL
became the first non-banking finance company in India to become a bank – Kotak Mahindra
Bank Limited.
The consolidated balance sheet of Kotak Mahindra group is over Rs. 1.17 lakh crore and the
consolidated net worth of the Group stands at Rs. 17,228 crore (approx. US$ 2.9 billion) as on
June 30, 2013. The Group offers a wide range of financial services that encompass every sphere
of life. From commercial banking, to stock broking, mutual funds, life insurance and investment
banking, the Group caters to the diverse financial needs of individuals and the corporate sector.
The Group has a wide distribution network through branches and franchisees across India, and
international offices in London, New York, Dubai, Abu Dhabi, Mauritius and Singapore.
Old Mutual
Old Mutual provides life assurance, asset management, banking and general insurance to more
than 14 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa
in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among
others, since 1999.
In the year ended 31 December 2012, the Group reported adjusted operating profit before tax of
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KOTAK LIFE INSURANE COMPANY
£1.6 billion (on an IFRS basis) and had £262 billion of funds under management from core
operations.
MILE STONES
1986
Kotak Mahindra Finance Limited starts the activity of Bill Discounting
1987
Kotak Mahindra Finance Limited enters the Lease and Hire Purchase market
1990
The Auto Finance division is started
1991
The Investment Banking Division is started. Takes over FICOM, one of
India’s largest financial retail marketing networks
1992
Enters the Funds Syndication sector
1995
Brokerage and Distribution businesses incorporated into a separate company ‐
Kotak Securities. Investment Banking division incorporated into a separate
company ‐ Kotak Mahindra Capital Company
1996
The Auto Finance Business is hived off into a separate company – Kotak
Mahindra Primus Limited. Kotak Mahindra takes a significant stake in Ford
Credit Kotak Mahindra Limited, for financing Ford vehicles. The launch of
Matrix Information Services Limited marks the Group’s entry into information
distribution.
1998
Enters the mutual fund market with the launch of Kotak Mahindra Asset
Management Company.
Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business.
2000
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Kotak Securities launches kotakstreet.com ‐ its on‐line broking site. Formal
commencement of private equity activity through setting up of Kotak
Mahindra Venture Capital Fund.
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KOTAK LIFE INSURANE COMPANY
2001
Matrix sold to Friday Corporation Launches Insurance Services
2003
Kotak Mahindra Finance Ltd. converts to bank
Vision and Mission Statement
An uncommon bond. Strengthened by a common vision.
Apart from common beliefs, values and objectives we believe in the vision of a better
tomorrow. It is this deep veneer of faith that has brought us together and fortified our
bond.
The global Indian financial services brand
Our customers will enjoy the benefits of dealing with a global Indian brand that best
understands their needs and delivers customized pragmatic solutions across multiple
platforms. We will be a world-class Indian financial services group. Our technology and
best practices will be benchmarked along international lines while our understanding of
customers will be uniquely Indian. We will be more than a repository of our customers'
savings. We, the group, will be a single window to every financial service in a customer's
universe.
The most preferred employer in financial services
A culture of empowerment coupled with a spirit of enterprise, attracts bright minds with
an entrepreneurial streak to join us and stay with us. Working with a home-grown,
professionally-managed company, which has partnerships with international leaders,
gives our people a perspective that is universal as well as unique.
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KOTAK LIFE INSURANE COMPANY
The most trusted financial services company
We will create an ethos of trust across all our constituents. Adhering to high standards of
compliance and corporate governance will be an integral part of building trust.
Value creation
Value creation rather than size alone will be our business driver.
Why Kotak Life Insurance
Kotak Mahindra Old Mutual Life Insurance is one of the fastest growing insurance companies in
India, trusted by over 4 million policyholders nationwide. The company is differentiated because
of its proven ability to deliver outstanding value to its customers through high customer empathy
and understanding, lifetime of exceptional service and suite of products that best leverage the
combined prowess of Protection and Long term Savings - the two key elements that determine
any winning life insurance product. The company also has among the best claim ratios in the
industry, a solemn testimony to its business practices.
Strengths
Financial Acumen - Holds a stable and diversified portfolio and has received some of the
highest ratings in financial strength from industry’s independent rating agencies.
Disciplined fund management - Years of experience in asset management, and a strong
track record in managing funds - backed by the acclaimed expertise of Old Mutual plc.
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KOTAK LIFE INSURANE COMPANY
Innovativeness - Innovator in providing pragmatic and need based life insurance
solutions, with consistent emphasis on leveraging the combined prowess of protection
and long term savings to the customer’s best advantage.
Unrelenting Customer Focus - A highly committed sales force, with customer satisfaction
as the key driving force
Transparency in Services - Daily declaration of fund performances, regular performance
benchmarking, well regulated asset management, and monthly newsletter on market
updates
PRODUCT
a) Kotak Flexi plan
Advantages:
1. Choice of 5 professionally managed funds included Gilt Fund, Floating
Rate Fund, Bond Fund, Balanced Fund, Growth Fund.
2. Add lump sum injections as and when suitable
3. Premium holiday facilities
4. Riders options for enhanced protection
5. Loan facilities in case of emergencies
6. Simplified documentation and procedures
b) Kotak Retirement Income Plan
The Kotak Retirement Income Plan is a savings plan designed to meet your
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KOTAK LIFE INSURANE COMPANY
post retirement needs. It is a plan that gives you jeene Ki azaadi by giving
you the choice to remain independent even after retirement.
Advantages:
1. In this plan minimum age of 18 years of old and maximum age is 60 years.
2. You may buy an annuity either from Kotak Life Insurance.
3. You can make lump sum injections into your policy at any time before retirement.
4. For a with cover plan you have the facility of Automatic cover
Maintenance, which ensures that the cover remains in force even when youmiss the premium
payments. This facility is available after the first 3 years of the term.
5. You may exercise the option of paying premium from the Supplementary Accumulation
Account, created from will be created from lump sum injections, if the need arises.
c) Kotak Endowment Plan
An Endowment policy is a combination of savings along with risk cover. These policies designed
to accumulate wealth and at the same time cover your life. In simple words, issued for specific
time periods during which you pay a regular premium. If you die during policy, your
beneficiaries will receive the sum assured along with the accumulated bonus a outlive the
Policy tenure you will receive the sum assured along with accumulated bonus.
Advantages:
1 In this plan minimum age of 18 years of old and maximum age is 65 years.
2 You can take a loan against your policy has been in force for at least three years.
3 You have the option of paying premiums quarterly, half yearly or yearly.
4 You have the benefit of a 15-day free look period.
d) Kotak Capital Multiplier Plan
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The Kotak Capital Multiplier Plan is a participating plan that is built in such a way that it allows
your money to multiply, and gives you the flexibility of using this money the way you need it, in
regular and irregular withdrawals. This is an endowment plan, which is very flexible and has a
lot of in-built benefits.
Advantages:
1) In this plan minimum age of 18 years of old and maximum age is 60 years.
2) At the start of your withdrawals period, you can draw the full proceeds or you can draw up to
50% of your basic sum assured or accumulation account, whichever is higher.
3) In addition to the regular premiums, you can make lum sum injection into your plan during the
premium paying period. A Supplementary Accumulation Account will be created.
4) You have the facility of Automatic Cover Maintenance, which ensures that the policy remains
in force even when you miss the premium payments. This facility is available after the first 3
years of the term.
e) Kotak Child Advantage Plan
The Kotak Child Advantage Plan is an investment plan designed to meet your child s future
needs. It is a plan that gives your child the azaadi to realize his/her dreams. This is an
endowment plan where the life insured is the child. This is a participating plan.
Advantages:
1 In this plan minimum age of 0 years of old and maximum age is 17 years.
2 You may take a loan against this plan, after the policy has been in force forat least three years.
3 You have the option of paying premiums quarterly, half yearly or yearly.
4 You have the benefit of a 15-day free look period.
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Need of the study
The project report is all about market research to find out best sold plan of Kotak Mahindra Life
Insurance, Gurgaon And to mouser the satisfaction level of consumers of Kotak Mahindra Life
Insurance.
Market research helps Kotak Mahindra Life Insurance about the best plan purchased by its
consumer satisfaction level helps to know whether the consumers are satisfied by service/Plans
of Kotak Mahindra Life Insurance.
Scope of study
The study will help understand the marketing scenario of Insurance Industry in
Chennai Region.
It may help the company to know its strength and weakness.
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KOTAK LIFE INSURANE COMPANY
The study may help to know the drawbacks of Kotak Mahindra life insurance as a
competitor in the Insurance Industry.
This study may help the company to know its position as a competitor in the Insurance
Industry.
This will add value to know the most preferable product of the company among the
customers.
OBJECTIVE OF THE STUDY
1) To determine the present brand position of the Kotak Mahindra life insurance.
2) To study the customer satisfaction level of KotakMahindra Life Insurance;
The main objective of the project was to analyze consumer satisfaction of Kotak
Mahindra Life Insurance with other services in Gurgaon. And also present position of the
company.
2) To determine the market share of different brands:
The second objective of the project was to determine the market share of different brands
available in the market. There was a tough competition for the brand in the market.
Therefore to get establish, company had to make its competitor’s analysis and need to
determine where do they stand.
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3) Responses of customer:
Responses from them were collected through survey and for the Questionnaire were
prepared for both of them.
4)To find the market share of Kotak Mahindra Life Insurance.
5) To know competitor strength and weakness.
6) To showcase the consumers’ willingness to spend on life insurance.
RESEARCH METHODOLOGY
Research is an art of scientific investigation through search for new facts in any branch of
knowledge. It is a moment from known to unknown. Research always starts with a question or a
problem.
Its purpose is to find answers to questions through the application of the scientific method.
It is a systematic and intensive study directed towards a more complete knowledge of the subject
studied.
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As marketing does not address itself to basic or fundamental question, it does not qualify as basic
research. On the contrary, it tackles problems, which seem to have immediate commercial
potential.
In view of the major consideration, marketing research should be regarded as applied research.
We may also say that marketing research is of both types problem solving and problem oriented.
Marketing research is as systematic and objectives study of the problems pertaining to the
marketing of the goods and services. It may be emphasized that it is not restricted to any
particular area of marketing, but is applied to all the phases and aspects.
METHOD OF DATA COLLECTION
1) Data to be collected.
Data includes facts and figures, which are required to be collected to achiever the objectives of
the project. In order to determine the present position and satisfaction of customer of kotak
Mahindra Life Insurance.
a) Primary Data
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KOTAK LIFE INSURANE COMPANY
The data that is being collected for the first time or to particularly fulfill the objectives of the
project is known as primary data.
These types of data were,
- The market share of Kotak Mahindra Life Insurance.
- The market share of other brands available in the market.
- Responses of consumer.
- Identifying pros and cons of the brand.
The above primary data were collected through responses of consumer was
conducted through questionnaires prepared for them.
b) Secondary Data
Secondary data are that type of data, which are already assembled and need
not to collected from outside. These types of data were
i)
Company Profile
ii)
Product Profile
iii)
Competitors Profile
The aforesaid data were collected through Internet and company s financial
report.
2) Data Collection Method
For given project, the primary data, this needed to collect for the firsttime, were much
significant. This type of information gathered through Survey technique, which is the most
popular and effective technique forCorrect data collection.
The survey was completed with the use of questionnaires
3)Sampling
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KOTAK LIFE INSURANE COMPANY
Sample is the small group taken under consideration from the total group. This small group
represents the total group. In the project the market research, which was ask to be studied was
Gurgaonmarket but as it was possible to approach all the respondent s customer of the city, hence
a sample was selected which represents the whole city. The areas selected for the sample
are present further in the appendix. Sample size of customer list was taken from Kotak Mahindra
Life Insurance customer data basic.
4)Universe
Population of Gurgaon ncr.
5) Sample Design
Sampling refers to the method of selecting a sample from a given universe with a view to draw
conclusions about that universe. A sample is a representative of the universe selected for study.
Convenience sampling is used in exploratory research where the researcher is interested in
getting an inexpensive approximation of the truth. As the name implies, the sample is selected
because they are convenient. This non probability method is often used during preliminary
research efforts to get a gross estimate of the results, without incurring the cost or time required
to select a random sample
6)Sample Size
The sample size for the survey conducted was 100 respondents.
7) Sample Technique
Convenience sampling technique was used in the survey conducted.
Simple random sampling- In this each unit of population has equal chance of being included in
the sample.
DATA INTERPRETATION
1) Personal detail:
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KOTAK LIFE INSURANE COMPANY
Class
(Age)
18-24
24-35
35-45
45-55
55-65
No of respondents
4
19
16
8
1
No of Respondents
20
18
16
14
12
No of Respondents
10
8
6
4
2
0
18-24
24-35
35-45
45-55
ANALYSIS
Above diagram consist five classes of different age groups. Here customer
19 customer biloges to 25-35 age groups, 16 customers fall in the age group
35-45 years.
Other 8 customer comes are in the class 45-55 years the age group of 18-24
Consists four customer reaming customer is in age group 55-65 years.
Here majority of customer belong to the group 25-35 years.
(2) Do you think is it essential to have life insurance?
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YES__________
NO_______
No of respondents
% of respondents
Yes
45
90
No
5
10
Total
50
100
No of Respondents
Yes
No
ANALYSIS
To these question 45 consumers reported YES and 5 consumers reported
NO.
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(3) Which are the companies you invested your money for life insurance?
companies
No of Respondents % of Respondents
Kotak Mahindra life insurance
50
37.04
Lic
Bajaj Allianz
Tata AIG
Max new York life insurance
30
10
5
22.22
7.41
3.70
HDFC Life Insurance
ICICI Prudential insurance
SBI
10
25
5
7.41
18.52
3.70
No of respondents
Kotak Mahindra Life
Insurance
LIC
Bajaj Allianz
Tata AIG
Max New york life
inusrance
HDFC Life Insurance
ICICI Prudential Life
Insurance
SBI
ANALYSIS
From the above figure we come to know that customer is also investing Money in other life
insurance companies. The major player in insurance is LIC holding 22.22% of total sample. The
second major player ICICI is Holding 18.52%. HDFC and AIG are having equal share of 7.41%
& the Max New York & SBI are having 3.70%.
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(4) Why did you choose Kotak life insurance?
ROI
Peer pressure
Tax benefit
Security / safety
Low premium
TOTAL
No of respondents
% of respondents
18
15
10
2
5
50
36
30
20
24
10
100
NO of Respondents
ROI
Peer Pressure
Tax Benefits
Security / Saftey
Low premium
ANALYSIS
The above diagram shows 36% of respondents choose because of good Returns, 30% because of
peer pressure and remaining 24% opt. Because of
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Tax benefit, safety and 100 premiums respectively.
(5) Which of the following planed you is insured?
Kotak Flexi plan
Kotak retirement plan
Kotak endowment plan
Kotak capital multiplier plan
Child advantage plan
Total
No of respondents
25
19
3
6
10
50
% of respondents
40
30
5
10
15
100
No of Respondents
kotak flexi plan
kotak retirement plan
kotak endowment plan
kotak capital multiplier
plan
child advantage plan
Note.
Some of customer is having more than one plan total survey customers are
ANALYSIS
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KOTAK LIFE INSURANE COMPANY
From the total 63 respondents maximum i.e. 40% customers have opted forFlexi Plan, whereas
30% have gore for Retirement plans and remaining 30% have customer are having endowment,
multiplier and child advantage respectively.
(6) What kind of service you expect from insurance provides?
Easy access ability to deposit centre
Time to time premium collection
Provision in case of dues
Bonus and other schemes
TOTAL
No of respondents
% of respondents
20
12
8
24
64
31
19
13
37
100
NO OF Respondents
Easy access ability to
deposit centre
Time toTime premium
collection
Provision in case of dues
Bonus and other schemes
Note.
Some of customer are expecting more than single service.
ANALYSIS
Out of total 50 respondents 37% like to have bonus and other service as a prime concern, 13%
like to have provision in case of dues and remaining 31% & 12% respondents say. They need
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time-to-time premium collection and easy accessibility to deposit center as a concern before
choosing Insurance provider.
(7) How will you rate the service given by Kotak Mahindra Life Insurance?
Poor
Average
Good
Excellent
TOTAL
No of respondents
% of respondents
16
28
6
50
32
56
12
100
No of respondents
poor
Average
Good
Excellent
ANALYSIS
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Out of 50 respondents 57% have ratted Kotak Mahindra Life Insurance Services as good and
32% have ratted as average. And remaining 12% have ratted as Excellent.
(8) What difference you find between Kotak and your previous insurance
provider?
Good Return
Effective Service / liquidity
Tax Planning
Security / Saftey Benefit
TOTAL
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No of Respondents
16
12
28
22
50
PAGE 24
% of respondents
21
15
36
28
100
KOTAK LIFE INSURANE COMPANY
No of respondents
Good Return
Effective sevice/ Liquidity
Tax Planning
Security/ Saftey Benefit
Note.
Some of customers are having more than one plan more Benefit are expected in one plan. Total
surveys of customers are 50.
(9) Do you have any suggestion for Kotak Mahindra Life Insurance?
Yes__________
NO______________
YES
NO
TOTAL
NO of respondents
39
11
50
% of respondents
78
22
100
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No of Respondents
Yes
No
ANALYSIS
To this question 39 consumers reported YES and 11 consumers reported NO.
(10) In future, will you purchase policies from kotak Mahindra life
insurance?
YES__________
No of Respondents
% of Respondents
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NO_______
Yes
32
64
No
18
36
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TOTAL
50
100
KOTAK LIFE INSURANE COMPANY
No of Respondents
YES
NO
ANALYSIS
To these question 32 consumers reported YES and 18 consumers reported NOss
OBSERVATIONS
Majority of the customer s belonged to age group of 25-35years that is 19 consumers.
45 consumers think Life Insurance is essential for them.
135 respondents are investing in life insurance companies likeKotak Life Insurance, LIC,
Tata Allianz, Max New York HDFC, ICICI and SBI.
36 percentages of the total respondents invest in KotakMahindra Life Insurance for
getting high ROI.
Most of respondent s preferred kotak Flexi Plan.
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37.5 percentage respondents expect bonus and other schemes
a) from Kotak Mahindra Life Insurance.
56 percentage respondents satisfied with services given by
a) Kotak Mahindra Life Insurance.
As per 28% of despondence Kotak Mahindra Life Insurance
a) providers good tax benefits to the Investors.
64% of respondents are willing to purchased policies from
a) Kotak Mahindra Life Insurance in future.
FINDINGS
There is significant difference between Kotak Mahindra and other brands.
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Middle Income group constitutes largest contributor to Investment in the
company.
KSIP is the most sought after investment scheme for Kotak Mahindra.
ICICI Pru is giving tough competition to Kotak Mahindra on most of the
variables selected for study.
Other company advisors have better product knowledge than most of
established companies.
Other company have better promptness of claim settlement than most of the
established companies.
CONCLUSION
After conducting market research for Kotak Mahindra Life Insurance Company we came to
know different needs of consumers, their valuable suggestions, responses to the different
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KOTAK LIFE INSURANE COMPANY
questions. With this information we can conclude that there is good market awareness about
Kotak Mahindra Life Insurance Company in the market.
Customer satisfaction level of most respondents is higher for KotakMahindra Life Insurance
Company, which is provided by survey. Higher satisfaction level of Kotak Mahindra life
insurance company was monthly due to Kotak provides good tax benefit for the consumers also
ROI, security etc.
Kotak Mahindra Flex s plan is the best-sold plan in market by KotakMahindra Life Insurance.
This conveys that the customer s are switching to
Retirement plan.
RECOMMENDATIONS
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1)There is scope to sale insurance policy by concentrating on age group 18-24 years here
potential of customers are there.(Example. Software professional, BPO employees, and
professionals) Flexi plan can be sold by concentrating on age group 35-45 years. (Example.
Government employees, executives and businessman)
2)As major respondents think to have life insurance policy is very essential there is lot of scope
for insurance company.
3)Kotak Mahindra Life Insurance should try to build trust among the public by making people
aware of their investment is safe, high return on investment, Tax Benefits.
4)As more respondents are investing in Kotak Mahindra Life Insurance for getting high return on
investment the company should try to provide attractive returns on investments in future.
5)Kotak Mahindra Life Insurance should introduce attractive policies &also attractive bonus on
policies to attractive more potential customers.
6)Approx 36% of respondents differ with their previous insurance provider, they field that Kotak
Mahindra Life Insurance providing good tax benefit for there investment so Kotak Mahindra
Life Insurance if possible try to provided more tax benefit customer.
7) 64% respondents are willing to purchases Kotak Mahindra Life Insurance policies in future
this benefit Kotak Mahindra Life Insurance as mort potential customer in future.
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KOTAK LIFE INSURANE COMPANY
LIMITATION
Sample is also collected from various areas in Gurgaon.
The sample size was limited to 100 consumers attached to this office.
The time available to the researcher was limited. This necessitated the use of small
sample size.
The study covered the consumers attached to this office. The observation and conclusions
apply to these consumers and cannot be generalized for all consumers of Kotak
Mahindra.
The observations and conclusions are based on the responses of the consumers who chose
to respond. The views of those who declined to participate in the study are not
represented.
The accuracy of the study depends on the correctness of the responses of the respondents.
SUGGESTION
The company should give training to its advisors to enhance product
knowledge of the company.
The company should create awareness about its product and schemes
highlighting returns given by the company to its investors.
The company should come out with Investment schemes catering to
low Income group to penetrate into this segment.
Company should enhance its promptness of claim settlement.
The company should introduce new product for the rural areas also.
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KOTAK LIFE INSURANE COMPANY
BIBLIOGRAPHY
REFRENCES
REFERENCE BOOKS
Philip Kotler, Kevin Lane Keller, Abraham Koshy, MithileshwarJha (2008), Marketing
Management, 13th edition, Pearson education, New Delhi
K. Kundan (2009), Marketing Aptitude Test, BSC Publication, Delhi
Statistical methods by Dr. S.P. Gupta, sultan Chand &son’s educational publishers, New
Delhi.
Business Research methods by William G. Zikmund, 7th edition, printed by India
Binding house, Ninth Indian Report, 2009
WEBSITE REFERED
ANNEXURE
1) Personal detail
Name:
Age
18-24 ______
25-35______
35-45______
45-55_______
55 and above
Phone No.
Email.
Office Address: - Residential Address: ____________
____________
____________
_______________
_______________
________________
2. Do you think is it essential to have Life Insurance?
YES___________
NO__________
3. Which are the companies you invested your money for Life Insurance?
a) Kotak Mahindra Life Insurance
b) LIC
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KOTAK LIFE INSURANE COMPANY
C) Bajaj Allianz
d) Tata AIG
e) Max New York Life Insurance
f) HDFC Life Insurance
h) ICICI Prudential Life Insurance
I) SBI
4. Why did you choose Kotak Life Insurance?
a) ROI
b) Peer Pressure
c) Tax Benefit
d) Security /safety
e) Low Premium
5. Which of the following planed you is insured?
a) Kotak Flexi plan
b) Kotak retirement Plan
c) Kotak Endowment Plan
d) Kotak Capital Multiplier Plan
e) Kotak Child Advantage Plan
6. What kind of services you expect from insurance provides?
a) Easy access ability to Deposit Center
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KOTAK LIFE INSURANE COMPANY
b) Time to time premium collection
c) Provision in case of Dues
(Policy Lapse)
d) Bonus & other schemes
7. How will you rate the services given by Kotak Mahindra Life Insurance?
a) Poor
b) Average
c) Good
d) Excellent
8. What difference you find between Kotak & your previous Insurance
Provider.
a) Good Returns (HIGHEST)
b) Effective Service/Liquidity
c) Tax Planning
d) Security/ Safety Benefit & Protection on your Capital
9. Do have any suggestion for Kotak Mahindra Life Insurance?
YES____________
NO______________
10. In future, will you purchase policies from Kotak Mahindra Life
Insurance?
YES__________
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NO______________
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KOTAK LIFE INSURANE COMPANY
11 Which plan do you prefer of kotak life insurance?
a) KSIP Plan
b) Money Back Plan
c) Children Plan
d) Pension plan
12. How would you rate the promptness of claim settlement with regards to
other companies?
COMPANIES
EXCELLEN
T
GOOD
AVERAGE
POOR
ICICI PRU.L
KOTAK LIFE
BAJAJ ALLIAANZ
TATA AIG
OTHERS
13. Are you satisfied with the returns from your investment in Kotak
Mahindra in comparison to other companies?