SUMMER INTERNSHIP

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reliance marketing

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SUMMER INTERNSHIP IN:

SUMMER INTERNSHIP IN “ RELIANCE LIFE INSURANCE ”

INSURANCE IN INDIAN MARKET:

INSURANCE IN INDIAN MARKET Insurance happens to be a mega opportunity in India Nationalized monopoly corporation & Life Insurance Corporation (LIC) was born in 1956 India is business growing at the rate of 15-20 percent annually and presently is of the order of Rs 450 Billion Two legislations govern the sector- The Insurance Act- 1938 and the IRDA Act- 1999

Slide 3:

245 Indian, foreign insurers and provident societies were took over by Central government and nationalized. LIC formed by an Act of Parliament- LIC Act 1956- with a capital contribution of Rs. 5 crores from the Government of India. A) In Public Sector: Life insurance Corporation(LIC) of India, National Insurance Company Limited, Oriental Insurance Limited, New India Assurance Company Limited and United India insurance Company Limited. B) In Private Sector: ICICI prudential Life Insurance, Reliance insurance, Bajaj Allianz, SBI Life, HDFC Standard, Birla Sunlife , Aviva Life Insurance, Kotak Mahindra old mutual, Max New York Life and Met life, Tata AIG Life, ING Vysya

:Objectives: :

:Objectives: To evaluate the level of awareness regarding the insurance . Preferences by the customers to insurance over the general and other investment options. Impact of recession on insurance and investment. To know the most of company offering insurance in terms of operations and customer-centric approach. To know the investment vehicles with which the customers are most comfortable with. To know the primary objective of investment and insurance.

:ORGANISATION PROFILE: :

:ORGANISATION PROFILE: Dhirubhai H Ambani , founder of reliance industries Reliance Life Insurance is an associate company of Reliance Capital Ltd 3rd largest private player , moved from 11th position to 3 rd RLIC has achieved a growth rate of 21% Fastest to reach the 5 million policy mark

Slide 6:

Continuous increase in market share over 4 years; from 1.9% in 2005-06 to 10.26% in 2009 -10 1145 branches 1,95,000 Advisors and over 16,000 employees RLIC continues to be amongst the foremost Life Insurance companies in India to be certified ISO 9001:2000 for all the processes.

:PRODUCTS: :

:PRODUCTS: Protection Plans Health Plan Child Plans Savings & Investment Plans

:Research Methodology: :

:Research Methodology: In this descriptive research method was adopted Data Collection (primary and secondary data) The respondents were contacted personally and a structured questionnaire was administered to them Sample unit - any individual residing in Punjab Sample size -100 respondent I had 6 week to get training programmer in RELIANCE SECURITIES

:FINDINGS::

:FINDINGS: In market the company has strong relation with its investors the maximum people invest, in the purpose of investment for it has good returns as per the other plans. Maximum people invest in the company for it has high return and a few of them according to the market trend and some them advised from there friends and security of there family. According to market and perception of people the LIC company is leading company in the market and then leaded by Reliance and ICICI company in the private sector. The people compare the cost on the bases of three ways like the premium of the plan, death amount to be covered at time of death and future value 65% of them feels necessity for security of life and 1% feel it as burden of expenses and 34% feel a tool for tax saving

:LIMITATIONS OF THE STUDY: :

:LIMITATIONS OF THE STUDY: This study is geographically to Jalandhar city only The sample size is small due to the specified reasons and limited time period. Finding is based on sample survey through questionnaires method. Hence there is a scope for the respondents to be pretentious

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