SALES PLAN FOR SELLING THE PRODUCT

Aegon Religare Insurance co. Pvt.Ltd

PROJECT REPORT
Submitted in partial fulfillment of the requirement for award of
Two year full time,Masters in Business Administration.

By
Vikas Kumar Singh
Roll no.A22,Reg.no.10900127

DEPARTMENT OF MANAGEMENT
LOVELY PROFESSIONAL UNIVERSITY
PHAGWARA
(2009-2011)
 ACKNOWLEDGEMENT

Behind every successful venture, there are some hand .I pay my all regard to all those
people who are directly or indirectly with me for the encouragement and because of their
immense help I could complete my project successfully.

In my prior list ,I would like to express my profound sense of gratitude to the

authorities of “AEGON RELIGARE LIFE INSURANCE CO.LTD.”especially
Mr.RAJESH PANREY (Business & Development Manager )for providing me the
platform and track for the purpose.

I my prior list, I would like to express my profound sense of gratitude to the authorities of
“LOVELY PROFESSIONAL UNIVERSITY” Phagwada especially to whop is give me
a better efforts ,Mrs.Nitin Dhir (Project Head) for providing me better guidance.

With a deep sense of reverence, I would like to express my whole hearted thanks and
obligation to my family specially my parents who have always been a source of
inspiration for me. Their everlasting cooperation, smiling affection inspired me to rise up
to what I am today.

Last but not the list, I would offer my special thanks to all of the people for providing me
their precious time in fulfilling the questionnaire as a primary data.

Vikas Kumar Singh

 CONTENTS

1. ABOUT OF COMPANY
2. OUR PRESENCE
3. INTRODUCTION TO INSURANCE
4.LITERATURE REVIEW
5. OUR PRODUCT
6. SALES STRATEGY AND IMPLEMENTATION
7. INSURANCE BUSINESS PLAN
1. MISSION
2. OBJECTIVES
3. KEY TO SUCCESS
8. ANALYSING NEED
9. RESEARCH AND METHODOLOGY
10. TECHINQUE OF DATA COLLECTIONS AND SIMPLING TECH
11. FINDING OF THE STUDY
12. SWOT ANALYSIS
13. QUESTIONNAIRE
14. SUGGESTIONS
15. BIBLIOGRAPHY
16. REFFERENCES
17. ANNEXURE
 ABSTRACT

It’s my privilege to get an opportunity to do my summer training from a well renowned

Company i.e. Aegon Religare Life Insurance Co.Ltd. In earlier a number of queries
keeping in my mind I said “yes” to myself as well as to this company that I will work
with full of my zeal and zest. I started my odyssey of “Summer Internship” on project
“SALES PLAN FOR SALE THE PRODUCT” on 15th of June under the Project head
Mr. Rajesh Pandey“B&DM”and my faculty guide Mr.Nitin Dhir

The feeling of wandering over the road in a deadly scorching sun during the summer
training was making me morbid. On 15th when I met Mr. Rajesh Pandey (B&DM), he
made me understand about my project.

I started working on my “Summer Internship” with fill of enthusiasm being fully fledged.
I was given some sales consultant and then I had to collect the data bases of their
customers to get the view about Aegon Religare products and satisfaction level about
Aegon Religare from them. Then I had to give a conclusion, followed by a suggestion on
it.
It was really a nice experience working with Aegon Religare. I felt a learning experience
while doing market research and satisfaction level about Aegon Religare”. All my
formidable fear vanished away and I am awaiting for my corporate life.
ABOUT COMPANY

AEGON RELIGARE LIFE INSURANCE COMPANY

AEGON, an international life insurance, pension and investment company, Religare, a

global financial services group and Bennett, Coleman & company, India’s largest media
house, have come together to launch AEGON Religare Life Insurance Company Limited
(ARLI). This venture is dedicated to build a profitable customer-centric business with
scale, providing a work environment that fosters excellence and innovation. This joint
venture will balance a local approach with the power of an expanding global operation.

ARLI launched its pan-India operations in July, 2008 following a multi-channel

distribution strategy with a vision to help people plan their life better. The fulfillment of
this vision is based upon having a complete product suite, providing customised advice
and enhancing the overall customer experience through superior service.

ARLI has launched a suite of products that are focused on providing the customer with
the means to meeting their long-term financial goals. At the same time product
development has been founded on the tenet of providing the customer with great value.
ARLI products such as AEGON Religare iTerm Plan and AEGON Religare Invest
Maximiser Plan have been ranked among the best in terms of value and have attracted
many external accolades.
 ABOUT AEGON
As an international life insurance, pension and investment company, AEGON has
businesses in over twenty markets in the Americas, Europe and Asia. With headquarters
in The Hague, the Netherlands, AEGON companies employ approximately 28,000 people
and serve some 40 million customers across the globe. The company’s common shares
are listed on three stock exchanges: Amsterdam, New York and London. AEGON has
more than 160 years of experience with its roots going back to 1844. AEGON holds 26%
equity in ARLI.

ABOUT RELIGARE ENTERPRISES LIMITED

Religare Enterprises Limited (REL) is a global financial services group with a presence
across Asia, Africa, Middle East, Europe and the Americas. In India, Religare’s largest
market, the group offers a wide array of products and services ranging from insurance,
asset management, broking and lending solutions to investment banking and wealth
management. The group has also pioneered the concept of investments in alternative asset
classes such as arts and films. With over 10,000 employees across multiple geographies,
Religare serves over a million clients, including corporates and institutions, high net
worth families and individuals, and retail investors. REL hold 44% equity in ARLI.

ABOUT BENNETT, COLEMAN & COMPANY LIMITED

Bennett, Coleman & Company Limited (BCCL), part of the mammoth Times Group,
is India’s largest media house. It reaches out to 2468 cities and towns all over India. The
group owns and manages powerful media brands like The Times of India, The Economic
Times, Maharashtra Times, Navbharat Times, Femina, Filmfare, Grazia, Top Gear, Radio
Mirchi, Zoom, Times Now, Times Music, Times OOH, Private Treaties and
indiatimes.com. All of its brands are multinational in outlook, traditional at heart and
national in spirit. From the very first edition on November 3, 1838 the mammoth BCCL
Group has come a long way. By way of the innovative venture of Times Private Treaties
(http://www.timesprivatetreaties.com), the BCCL Group holds 30% equity in ARLI.

STRONG PARENTAGE
Aegon
Life insurance/ pension/ investments
 Presence in over 20 markets throughout the Americas,Europe and Asia
 5th largest life insurance company in the world based on revenue.
 Ranked 103 on the fortune 500 list.
 More than 5 crore customers worldwide.
 More than 31,500 employees worldwide.
Religare
Value that bind
 One of India’s leading integrated financial services group
 Services in retail, wealth & institutional spectrums
 Presence in more than 460 cities and towns and more than 1550 locations across
india

The Opportunity
 Population of India -103 crores (in 2008)
 78% of households are aware of insurance products
 Growth in no. of policies from 2006 -2007 was 149%
 Despite such growth 70% of population is still under-insured

Insurance ownership is as low as 24%

(Source-the survey by NCEAR on ‘How India earns, spends and saves’, Max NCEAR
India financial protection survey )
 OUR PRESENCE

NORTH
Delhi-Zone Office
• Amritsar ,Chandigarh, Dehradun, Delhi- east of kailash, Delhi-pitampura,
faridabad, Gurgaon, Jaipur , Jalandhar, Ludhiana , Noida, Panipat

EAST
Kolkata-Zone Office
• Bhubaneswar , Guwahati, kanpur, kolkata, Lucknow, Raipur, Ranchi, Varanasi,
jamshedpur

SOUTH
Bangalore –Zone Office
• Bangalore Direct, Chennai, Cochin, Coimbatore, Hubli, Hyderabad, Mangalore,
Trissur, Trivandrum, Vizag, Salem

WEST
Mumbai- Zone Office
• Ahmedabad, Baroda, Bhopal, Indore-Belapur im vikas kumar Mumbai Dadar
Mumbai-Direct, Nagpur, Nasik, Pune, Pune-Direct, Rajkot, Surat, Panjim.

52 Offices in 42 Cities across 16 States

(As on September 2009)
 INTRODUCTION TO INSURANCE

The business of insurance began with marine business .traders who would gather in the
Lloyd’s coffee house in London, agreed to shared the losses to there goods while being
carried by ships .the losses would occurred because of pirates who used to rob on the high
seas of because of bad weather running the goods or sinking the hip. The first insurance
policy was issued in 1583 in England. In India insurance began in 1870 with life
insurance being transacted by an English company, the European and Albert. The first
Indian insurance company was the Bombay mutual assurance society LTD. Formed in
1870.the oriental life Assurance go in 1874 came next time and then the Bharat in 1896
and then to follow was empire of Indian in 1987.

Afterwards ,the Hindustan was formed in Calcutta ,the united Indian in madras
,the Bombay life in Bombay ,the national in Calcutta ,the new India in Bombay ,the
Jupiter in Bombay and the lakshimi in new Delhi .these were all Indian company which
began as a results of a the swadeshi movement in the 1900s .by the year 1956 ,when the
life insurance business was nationalized and the life insurance corporation of India (LIC)
was formed in 1st sept.1956,there were 170 companies and 75 provident fund societies
transacting life insurance business in India .after changes to he relevant laws in 1999,
the LIC did not have exclusive privilege of doing life insurance business India.

Insurance is required assets to prevent damages through unpredictable and

accidental events .such event are known as perils. they can be any things ranging from
fire , floods ,break down ,lighting, to earthquake .if such perils damage the assets is set to
be exposed to that risk. Risks are significant losses or damages .the risk to a owner of an
assets, because perils may be a few lacks of a few corers of the rupees, depending on cost
of the assets and it contents. the risk only indicants that loss or damage is possible
insurance is done again the possibility that may happen .there has to be an uncertainty
about the risk .only if is there risk regarding the occurrence of an event,it can’t be insured
.in the case of human being, death is certain ,but the time of death is not certain .in the
case of a person who is terminally till ,the time of death is certain, though not exactly
known .he can not be insured. Insurance does not provide protection for the assets .the
perils can not be avoided through insurance. The impact of a risk on the owner of the
assets and the people depending on it, is reduced by the insurance .it partly compensates
the losses .insurance only applies to financial losses.

1. THE BUSINESS OF INSURANCE

Insurance companies are called insures. they insures :bring together person with similar
insurance interest (sharing the same risks) .
Collect the share and contribution (known as premium) from all of them ,
Pay out compensantion (known as claim) to those who suffer .Insurance is divided into
two parts.
Life an Insurance:-life insurance included all risk related to the lives of human being and
general insurance cover the other aspects.
NON –LIFE OF GENERAL INSURANCE:-General insurance have three classic
fictions viz. fire (dealing with all fire related risks),marine (dealing with all related risks
and ships) and miscellaneous (dealing with all their’s like liability ,fidelidy,motor ,crop
,personal accident ,etc.). Personal accident and sickness insurance which are related to
human .
Beings, is classified as non –India, but is classified as “life”: in any other countries.
The premium is based on expectation of the losses that are based on information through
the study of occurrences in the past and use of statically principals .there is an statistics ,a
“law of large no.) Variation will be less as a percentage .therefore the greater the no. of
risks included in the pool; the better chances that the assumption regarding the probility
of the risk occurring (on which premium calculation is based ) will be realized in
practice .hence ,the greater the spread of the business ,the better the expectations.
The insurer holds the position of a trusty as is managing .the common fund ,for and on
behalf the community of policy holder .it has to make certain that none is allowed to take
unfair advantage of the arrangement .that means the arrangement of the insurance
business require care to prevent entry of individual to he group ,whose risks are not
similar as well paying claims on losses that are not accidental. the amount decision to
allow entry is known as the processes of underwriting of risks .underwriting includes
determining the risks i.e. to evaluate how much risks exposure involved .the premium that
is changed is dependent on the determination of risk involve .

2.INSURANCE OF ECONOMIC DEVELOPMENT

Investment are made out of saving and they are necessary for furthering economic
development .the life insurance company is a quit important in mobilizing saving of
people ,especially from the middle and lower income groups and these saving are
channeled into investment for economic growth .
Most of the life insurance companies have large fund that are accumulated through the
payment of small amount of premium of individual and these fund further the economic
development of the countries in which they do business .
These fund are collected and held in trust for the benefits of the policy holder .the
management of the life insurance company have to remember this aspects and take
decision keeping in mind the benefits of the community.
Business and trade also benefits through insurance .without insurance ,trade and
commerce is expose to perils and it will find it difficulty to face the impact of such events
3.ADVANTAGES

It is incorrect to say that life insurance is investment or means savings .the saving and
investment option are deposits in the banks ,in national saving certificate in mutual funds
and all o0ther savings certificates ,in mutual funds and all other saving instrumental
.money invested in buying share and stocks are at risks of being lost in the fluctuation of
the stock market .assuming there is no loss ,the money available at any time is the amount
invested plus appreciation .in life insurance the fund available better is not the total of
saving all ready period (premium paid) ,but the amount one wishes to have at the end of
saving period according to his choice .hence life insurance can not be substituted as there
are no other scheme that proved this kind benefits .

Life insurance has the following advantage s in comparison to other form of saving
.settlement is easy in case of death .facility of nomination and assignment makes the
collection of money by the heirs quicker .now some bank accounts provide facility of
nomination .creditor can be protected against attachment by courts but can not claim the
life insurance moneys. there are tax benefits in income tax and n capital gains .a life
insurance policy is property an can be transferred or mortgaged and loans can be raged
against the policy as market ability are better .
4.INSURANCE INDUSTRY: CLASSIFICATION

INSURAN
CE

LIFE INSURANCE GENERAL

INSURANCE

Fire Insurance Marine Insurance Mediclaim

Motor Vehicle
5.INSURANCE IN INDIA

• The Britishers opened general insurance in India around the year 1700.
• The first company, known as the Sun Insurance Office Ltd. was set up in
Calcutta in the year 1710.
• Insurance companies like Bombay Insurance Company Ltd was established
in 1793.

• In 1818 it was conceived as a means to provide for English Widows.

• The Bombay Mutual Life Insurance Society started its business in 1870.
• It was the first company to charge same premium for both Indian and non-Indian
lives.
• The Oriental Assurance Company was established in 1880.
• Till the end of nineteenth century insurance business was almost entirely in the
hands of overseas companies.
• Insurance regulation formally began in India with the passing of the Life
Insurance Companies Act of 1912 and the provident fund Act of 1912.
• Several frauds during 20's and 30's sullied insurance business in India.
• By 1938 there were 176 insurance companies.
• The first comprehensive legislation was introduced with the Insurance Act of
1938 that provided strict State Control over insurance business.
• The insurance business grew at a faster pace after independence.
• The Government of India in 1956, brought together over 240 private life insurers
and provident societies under one nationalized monopoly corporation and Life
Insurance Corporation (LIC) was born.
• Nationalization was justified on the grounds that it would create much needed
funds for rapid industrialization.
LITERATURE REVIEW
ARTICLES
1. Aegon Religare Life enters health insurance
—P.V.Sivakumar

Mr Yateesh Srivastava(right), Chief Marketing Officer, Aegon Religare Life Insurance,

and Mr Pradeep Pandey, Vice-President (Health), at the launch of the health plan in
Hyderabad on Tuesday.

Hyderabad, Aug. 17,2010

Aegon Religare Life Insurance (ARLI) has entered into health insurance segment by
launching a fixed benefit health plan.

The Aegon Religare Health Plan will provide for room and medical expenses, intensive
care unit charges and reimbursement for the cover agreed upon even if the actual cost is
lesser, Mr Yateesh Srivastava, Chief Marketing Officer, ARLI, told newspersons here on
Tuesday.

“We have already soft-launched the plan and could sell 5,000 policies in four weeks. We
are targeting over 50,000 policies with a combined premium of Rs 20 crore from this
product, during the current fiscal year,” he said.
Available in four categories, the plan will provide a total benefit of Rs 4.90 lakh to Rs
12.25 lakh with an annual premium of approximately Rs 1,000 for a Rs 1 lakh cover for a
person, he added. On the product pipeline, Mr Srivastava said that the company was
awaiting approval from the Insurance Regulatory and Development Authority for three
unit-linked insurance plans and one traditional product.

The ULIP products have been re-designed in tune with IRDA's recent norms. “Though
the products carry the old brand names, the substance will be different,” he added. As
announced earlier, Rs 450 crore of capital will be infused to the existing Rs 660-crore
capital base of the company, during the year. “We have already infused Rs 90 crore in
this,” he said. Aegon Religare is aiming to close 2010-11 with Rs 500 crore received
premium (as against Rs 166 crore last year), he added.

2. Aegon Religare eyes Web to sell health insurance

Kolkata, May 28 Encouraged
by good customer response to the online term insurance delivery model, Aegon Religare
Life Insurance is looking at selling health insurance on the Web, according to its
Managing Director and Chief Executive, Mr Rajiv Jamkhedkar.

The company, which started operations in 2008, is planning to launch its first health
insurance product in two months. “Looking at the response for our online term insurance
product iTerm, we are now exploring possibilities of making other upcoming policies like
health insurance available on the Web,” Mr Jamkhdekar said. He however maintained
that the company would need to get IRDA's approval before taking a call on this. iTerm,
which claims to be the cheapest term insurance policy in the country, has so far collected
about Rs 4.5 crore premium from more than 4,000 customers. The total premium
underwritten by the company in 2009-10 was Rs 166 crore. The premium charge of
iTerm is about 30 per cent lower than term policies sold in the agency model as it
discounts the commission charges.
“The average investment kitty in this policy is about Rs 12,000 and it is bought by
customers who are thoroughly aware of the market,” Mr Jamkhedkar said. The proposed
health policy, however, would have to be customised for the online version, he added.

The company was also looking at launching annuity products this year, he said, adding
that it was open to coming out with variable annuity if the regulator permits the same.
“Our foreign partner Aegon has a strong presence in this segment in the world market and
we expect the product to come up in India in one year,” he said.

3. AEGON RELIGARE LIFE INSURANCE : E-SALES

A unique e-Sales channel was developed by this insurance company enabling customers
to plan & buy policies online

Tuesday, June 01, 2010

In this era of cut throat competition insurance

companies are finding innovative ways of reaching more customers and simplifying
processes. ARLI developed an online distribution channel to sell life insurance policies
online where a customer can complete all steps from enquiry to purchase in one-go at a
time & place of his choice. Customer can come to e-Sales portal and determine ideal
insurance amount needed by him, compare it with other insurance products of the same
category, fill some basic information about him and his family, make payment and get
secure. In the background e-Sales portal interacts real-time with various core systems like
policy administration system, customer relationship management system, and workflow
system to ensure information about customer and policy is tracked online and served
back to customer if required online. e-Sales portal is designed to do automated
underwriting with the help of a rules engine. It's also integrated with a payment gateway
to enable payment using credit card and Internet banking. Its automated workflow directs
users to various steps depending on data entered by them in previous steps. Post
deployment the online sales has crossed 3000 policies in the last 4 months with more than
3 crore rupees in premium collection.
4. MUMBAI: AEGON RELIGARE LIFE INSURANCE (ARLI) LAUNCHED ITS
NEW FIXED-BENEFIT HEALTH INSURANCE PLAN, AEGON

The plan offers coverage of all surgeries, guaranteed payment in case of claims
and a cashless facility at over 3,000 hospitals, a press release issued here stated.

"Medical expenses are increasing, making health insurance a must. However, it is

critical to have certainty of payout. A comprehensive fixed benefit plan plays a
very important role as this tends to remove the surprise element from claims. Our
plan is designed such to provide comprehensive coverage and fixed benefits,"
ARLI Chief Marketing Officer Yateesh Srivastava said.
The plan would be distributed through the company's regular channels and would
also be available online, the release said.
The plan covers all kinds of surgeries, including 240 day care treatments and 10
critical illnesses, and guarantees a fixed amount of money, irrespective of the
actual hospital bill, the release said.
Under the health insurance plan, the company guarantees a fixed premium rate for
three years, which means in case of a claim in the first or second year, the
premium will not increase.
The benefit amount under the plan would increase by 10 per cent for every no
claim year (the maximum increase will be capped at 50 per cent) and can be
renewed till the age of 85.
 5. CORDYS SUCCESS STORY FOR INSURANCE: AEGON RELIGARE
CASE STUDY - DOCUMENT TRANSCRIPT

AEGON Regilare orchestrates processes and dissemination of information Cordys

enables AEGON Religare to respond quickly to changing market conditions and leverage
first mover advantage "We have created a strategic business model, one which
orchestrates and Customer profile fully respects our existing processes and investments.
With Cordys, we achieved AEGON Religare Life Insurance specializes in life insurance
and pensions. The company is a joint venture between AEGON and this in record time,
with minimal TCO.” Religare. AEGON is a leading global life and pensions company
with more than 40 million customers worldwide and a presence in Srinivasan Iyengar,
over 20 countries throughout the Americas, Europe and Asia, and Director IT and Change
Management, Religare is India's leading integrated financial services institution. India's
largest media group, Bennett, Coleman & Co is also a AEGON Religare Life Insurance
stakeholder in the company. Business case The major challenge facing the merged group
of companies was the creation and implementation of a successful, efficient and
sustainable business process model, incorporating real-time integration of systems and
information across AEGON Religare's existing IT infrastructure. The primary objective
was to launch operations across 14 independent systems at 25 locations on the first day.
The Indian insurance market is characterized by diversity; there are more than 21
languages and a number of unique local cultures. The population exceeds one billion and
the focus is shifting to non-metros. Scaling and adapting Processes and systems to meet
increasing volumes and customer acquisition and retention are key challenges. In such a
large scale and complex market, choosing the right solution was critical to the initial
launch and future success of the business. AEGON Religare needed a solution that could
meet the To achieve these objectives, a user-friendly solution is required following
objectives within an aggressive time-to-market: that could automate existing business
processes as well as provide § Enable technology to be the key driver for superior
customer seamless integration and process execution across a number of service
independent systems. In addition, the solution needed to enable § Support multiple sales
channels and a Pan-India launch on agility and adaptability to be built into the processes
and the the first day technology to ensure a future-proof and responsive business §
Provide a portal to act as the core information source for the process model, enabling
AEGON Religare to deliver on its promise sales channel of superior customer service and
providing need-based solutions, § Provide a single view front-end – independent of
multiple both now and in the future. back-end systems § Improve productivity and drive
faster speed to market www.cordys.com
OUR PRODUCT

LIFE INSURANCE PLANS

AEGON Religare Life Insurance offers insurance and pension plans specifically designed
to help you plan your life better. Select a plan based on your need – protection, saving,
child or retirement.
Protection Plans

Protection plans are Term Plans which provide only life cover. These
plans can help you get adequately covered and secure your family
financially in case of unfortunate event. These are low cost life
insurance plans

ULIPs

Unit Linked Insurance Plans or ULIPs as they are commonly called are a form of Savings
Plans that help you save and grow your money. ULIPs are a category of goal-based
financial solutions that combine the safety of life insurance protection with wealth
creation opportunities

Child Plans

AEGON Religare Child Plans are life insurance plans that can help you save for your
child’s future goals. This plan comes with a Waiver of premium feature, which
guarantees to waive all future premiums in event of your demise, and ensures that your
child receives full sum assured immediately and 100% of fund value on maturity of
policy.

Retirement Plans

The rising inflation has put the fear of the unseen in every working person’s life. Today,
more than ever, it is vital that you save for the golden years post retirement so that you
can maintain your lifestyle as today

SALES STRATEGY AND IMPLEMENTATION

1) Emphasize service and ongoing support. We must avoid selling only one policy at
the lowest price for each customer and concentration account selling which greatly
enhances client retention.
2) Build an Insurance Partnership. The customer does not want to shop every year for
a new broker. Concentrate on building a long term relationship with our customers
and make the client and our staff appreciate the value of a long-term relationship.
3) Focus on target markets. We must focus on personal and business customers that we
identify and select to insure, instead of allowing potential customers to choose us,
which could result in our brokerage attracting problem clients from other brokers.

MARKETING STRATEGY

1) Emphasize service and support.

2) Build a partnership business based on account selling.

3) Focus on senior, claims-free personal lines business and the profitable, well-run,
small family business.

4) Target small, non-franchise business that does not have access to group insurance
plans.

5) Investigate acquiring other brokerages in our area.

PROMOTION STRATEGY
We have depended in the past on a small advertisement in our local newspaper, listings in
the Yellow Pages, and word of mouth. We must begin to investigate alternate ways to put
our name in front of the public.

1) All advertising has to emphasize our differentiation point rather than price. We
will be developing a "Now what do I do?" message to emphasize the need for
dealing with Acme's insurance professionals so that in the event a loss occurs, you
know you have the proper protection.
2) We must sell the company, not the product. In spite of some companies' efforts to
minimize the importance of the broker, our clients still identify with the broker,
not the insurance company.
3) We must improve and increase our contacts with our clients. All clients should be
contacted before renewal to ensure covers are current and adequate. Also, new
insurance should be solicited. We are investigating the production of a company
newsletter or use of the I.B.A.O. newsletter which is distributed on a bi-annual
basis.
4) We have put our email address in our newspaper advertising, but we must be
careful about attracting clients from out of the area who may be difficult to service
and properly inspect.
5) Make contacts and support senior citizen groups and cottage associations. Identify
sports and hobby groups that involve seniors and cottagers.

DISTRIBUTION STRATEGY
 1) Select Seniors We will give special attention to this market in our advertising. We
will make a concerted effort to support and sponsor seniors programs in our area.
We will seek out Cottage associations and offer support and advice to attract new
senior clients who are recently retired or about to in the near future.
2) Insurance Partners We will include inserts in renewal, endorsements, and
correspondence stressing the importance of the insured taking an active interest
and responsibility for trying to control the severity and number of claims. Our
staff should take every opportunity, when discussing insurance with a client, to
emphasize the consequences of multiple claims.
3) Business Partners Again we should encourage insureds to take responsibility for
controlling claims in partnership with their broker by installing alarm systems
and continuing to maintain and upgrade their property. We should stress the
benefit that good loss ratios help to control rates and ensure markets that want to
write their business.

POSITIONING STATEMENT

Our target market is Smalltown District. The ideal client is claims-free aged between 45 -
75 who owns his own home and car and is debt free. Has exhibited stable family patterns
and is known and respected in the community.

A similar profile should be used for commercial prospects with emphasis placed on the
well-run, profitable business that has exhibited good claims experience.

PRICING STRATEGY

Our customers are especially sensitive to value. We must ensure that our price and
service are perceived to be good value to our client.

Our markets must offer several payment options to our clients that are convenient to the
client, not just to the company. Example - payment on insured's preferred day of month,
not on the company's, and accepting payment by credit or debit card. Many insureds are
on a fixed income and receive their income on a set day of each month or a paycheck on a
particular day.

We encourage our companies to "Target Market." Many of our companies are now
focusing on what they have perceived to be profitable niche markets, where they can
offer a competitive product with little, if any, competition.

We are seeing our commercial markets now moving toward basic coverage and limiting
the "bells and whistles," all-risk products available to only those clients who have
modern, well-managed, profitable, low-risk operations. This should help stabilize pricing
and, even more important, ensure that there is an insurance market available for most
risks. Continued insistence by the industry on better protection, i.e. fire and burglar
alarms, upgrading of buildings, etc., have started to lower loss ratios.

Many of the larger insurance markets have increased minimum premiums to $1,000 for
any commercial package policy. Our Lloyds market should be able to accommodate these
customers with a minimum premium of approximately $600.

SALES STRATEGY

We want to emphasize the benefit of dealing with professionals who live and work in our
client's area. We know their needs and their problems and we have a local reputation to
protect, unlike an out-of-town market. If the out-of-town broker fails to provide proper
cover or advice, they lose one client. We could stand to lose many if the public perceives
a professional failure on our part.

Competitive prices for our identified target markets. Discounts of up to 25% for claims-
free seniors who renew their home insurance with us.

Careful inspection and the judicious use of deductibles and warranties for insureds using
wood stoves should help alleviate company concerns about solid fuel heating devices.
Competitive pricing is not an important factor to attract business because competition is
very limited for primary wood heat houses in our area. This may provide a chance to pick
up all of the insured's business because, in many instances, they contact us after being
told by their previous broker that, in spite of their claims-free status, the broker doesn't
want their house insurance.

Business partners provide us the opportunity to sell lower-priced, basic insurance

coverage to our client. Many clients have expressed interest in retaining part or all of the
insurance risk, especially for burglary. They feel that if they have installed central alarms
and bars, they can take the chance of self insurance.

Sales Programs

We are investigating sales incentives for our producers. They must encourage profitable
new business and have a retention component. Presently, our producers receive $10 for
every new policy written in our office, with the exception of recreational vehicles.

SALES FORECAST

The following table and related charts show our present sales forecast. We are projecting
sales to grow at a moderate but steady pace for the coming year and to continue into
1997.
.
SERVICE AND SUPPORT

Aegon Religare is really a group of small brokerages housed under one name and
location. Our producers are each responsible for a book of business. They sell, service,
handle claims and are responsible for their accounts receivable. We have found over the
years that our clients prefer to deal with one broker who is aware of their particular needs.

MILESTONES

We have listed our plan milestones in the table below.

INSURANCE BUSINESS PLAN

By focusing on its strengths, its present client base, and new value priced products in the
next year, Aegon Religare plans to increase gross sales by 10% and profit by 15%.

Our Keys to Success and critical factors for the next year are, in order of importance:

• Identify "Target Markets."

• Institute our Property inspection program.
• Begin our "Insurance Partners" program.
• Develop a profitable property program.
• Provide small businesses with an affordable basic business package.

Aegon religare has been profitable, but recently we have had declining market share and
this must be addressed. Therefore our goals are:

• To re-establish Aegon religare as the market leader in quality and value-priced

insurance products in Smalltown District.
• Establish good working relationships with our present insurance markets by
meeting with their decision makers and plotting a mutual plan for success. Get
commitments for support and products that we can market in our trading area
starting April 1st of Year 1.
• Investigate new markets that meet our marketing criteria by a) committing to
small rural brokerage; b) providing products suitable to our economic and social
climate; and c) plans for the upload and download of insurance policies.
• Provide sales incentives to staff to meet sales goals of 10%.
• Complete inspection of all Pilot homeowners within one month before renewal
date.
• Formulate plans to acquire another brokerage

Aegon religare is dedicated to providing insurance products that provide quality

protection with value pricing. We wish to establish a successful partnership with our
clients, our staff members, and our insurance companies, that respect the interests and
goals of each party.

Success will be measured by our clients choosing us because of their belief in our ability
to meet or exceed their expectations of price, service, and expertise.

In order to implement our strategic goals, we will focus on developing the following
tools.

1) Knowledgeable, friendly staff that can empathize with our consumers needs and
circumstances, especially in handling a loss.
2) Policies that meet or exceed the expectations of our clients, and that are affordable,
available, and understandable.
3) Policies and endorsements delivered on time with minimal errors.
4) A commitment to an annual insurance review for all of our clients. A phone call is
more than any direct mass marketer offers. We believe personal contact and service is
the cornerstone of our success.

Aegon religare primarily markets and services Personal Lines Insurance. Its customers
are mostly rural, lower income families or long time resident senior citizens who demand
value priced insurance premiums in keeping with their lower and fixed incomes.

We also provide insurance to small business, mostly family-run seasonal operations

primarily focused on the tourist trade.

Aegon religare is a privately incorporated company in the Smalltown district and is

licensed to transact both Life and General Insurance. The shares are held equally by John
Smith and Peter Smith.

In Nexttown, we operate from an 800 square foot, one-story brick veneer building
overlooking Lake Small, which again is owned by the principals of our firm. The office is
strategically located across from the Post Office.
We have stressed to our insureds the importance of good communication between the
broker and client to insure proper coverage is in place. We have noticed as our clients
become better informed about insurance that there has been a tremendous increase in
clients wishing in-depth discussions about their policy coverage and how they can get the
most value for their insurance dollar.

AEGON strength lies in the quality and depth of our products and staff. Our offices,
unlike our competition, are open six days a week. Because of our larger staff, we are able
to service our clients even when a client's broker is busy or out of the office on
inspections.

Company’s staff has specialists in commercial insurance that can properly service and
underwrite local business. We also have some quality commercial markets unavailable to
our competition.

The past few years have seen tremendous upheaval in the insurance industry. The number
of players has decreased in both the broker and company communities. The recession has
curtailed insureds from properly maintaining their homes and automobiles, and insurance
fraud has become a major issue for the entire insurance industry.

Brokers are concerned that in spite of commission reductions, quotas, contract

cancellations, and refusal to write new auto business by some markets, they now may find
themselves in competition with some of the traditional broker distribution companies that
are setting up direct marketing facilities and branches. The banks now have announced
they will open stand alone insurance offices to retail insurance.

In spite of the above, we believe that the independent broker will survive. We are more
automated than most service industries. We are close to the customer, regardless of some
insurance companies' attempts to sever the traditional broker-client relationship. Our
clients, in most cases, still do not care or know which company we place them with. They
trust our judgement in selecting the proper coverage and company to place them in.
We have depended in the past on a small advertisement in our local newspaper, listings in
the Yellow Pages, and word of mouth. However with the changes in the market today, we
must begin to investigate alternate ways to put our name in front of the public. We have
set out several criteria for our marketing campaign that include"

• All advertising has to emphasize our differentiation point rather than price.
• We must sell the company, not the product. In spite of some companies' efforts to
minimize the importance of the broker, our clients still identify with the broker,
not the insurance company.
• We must improve and increase our contacts with our clients.
• Make contacts and support senior citizen groups and cottage associations.

Based on these changes in our goals, outlook, and company culture, we anticipate that we
will be able to increase revenues substantially by year 3 of the plan and increase net profit
handsomely. The company does not anticipate any cash flow problems.

1. MISSION

Aegon religare is dedicated to providing insurance products that provide quality

protection with value pricing. We wish to establish a successful partnership with our
clients, our staff members, and our insurance companies, that respect the interests and
goals of each party.

Success will be measured by our clients choosing us because of their belief in our ability
to meet or exceed their expectations of price, service, and expertise.

2. OBJECTIVES
 1. To re-establish Aegon religare. as the market leader in quality and value-priced
insurance products in Smalltown District.
2. Establish good working relationships with our present insurance markets by
meeting with their decision makers and plotting a mutual plan for success. Get
commitments for support and products that we can market in our trading area starting
April 1st of Year 1.
3. Investigating new markets that meet our marketing criteria by a) committing to
small rural brokerage; b) providing products suitable to our economic and social
climate; and c) plans for the upload and download of insurance policies.
4. Provide sales incentives to staff to meet sales goals of 10%.
5. Complete inspection of all Pilot homeowners within one month before renewal
date.
6. Formulate plans to acquire another brokerage.

3. KEYS TO SUCCESS

We believe the keys to success in a small town insurance business are:

1. Knowledgeable, friendly staff that can empathize with our consumers needs and
circumstances, especially in handling a loss.
2. Policies that meet or exceed the expectations of our clients, and that are
affordable, available, and understandable.
3. Policies and endorsements delivered on time with minimal errors.
4. A commitment to an annual insurance review for all of our clients. A phone call is
more than any direct mass marketer offers. We believe personal contact and service
is the cornerstone of our success.
 SERVICES

Aegon religare is committed to providing professional sales and service for its insurance
customers. We have established what we consider to be an excellent reputation in our
area, and are the largest multi-line insurance broker in our trading area.

1. SERVICE DESCRIPTION
Aegon religare provides home, automobile, and business insurance in Smalltown
District. We take pride in knowing that for over 50 years we have helped our clients to
find the best coverage at the right price that suits their needs and expectations. In the
event of a claim, our clients know that we are there to provide help and counsel to ensure
a fast, speedy claim settlement.

Like other independent brokers, we issue binders and new policies, endorsements and
process renewals. We have stressed to our insureds the importance of good
communication between the broker and client to insure proper coverage is in place. We
have noticed as our clients become better informed about insurance that there has been a
tremendous increase in clients wishing in-depth discussions about their policy coverage
and how they can get the most value for their insurance dollar. We also provide insurance
services to non-clients, such as lawyers and mortgagees, to ensure our mutual clients have
proper coverage and binding notes in place for the purchase of homes, businesses, and
automobiles.

2. COMPETITIVE COMPARISON

Our company's strength lies in the quality and depth of our products and staff. Our
offices, unlike our competition, are open six days a week. Because of our larger staff, we
are able to service our clients even when a client's broker is busy or out of the office on
inspections. Our staff has specialists in commercial insurance that can properly service
and underwrite local business. We also have some quality commercial markets
unavailable to our competition.
Since we are brokers, (not agents such as Co-operators), we have access to a range of
standard and specialty markets.

3. SALES LITERATURE

We have recently produced a pamphlet titled "Insurance Partners" which stresses that a
successful insurance partnership between the client, the broker, and the company is based
upon a new concept.

Not only do the broker and the company take responsibility for proper protection and
indemnity in the event of loss, but in the 1990's, the client must also take his share of
responsibility to insure the safety of his property by keeping it well maintained and using
qualified professionals to update or change the heating, electrical, and plumbing systems
in his home. We stress that multiple claims or claims arising out of poor maintenance
may adversely affect his insurance.

In addition to the above, our brokerage uses a number of boilerplate letters on our
computer system that are sent along with various types of policies explaining unique
features or limitations in the contracts to avoid possible Errors and Omissions claims.
They also encourage our clients to contact us about reviewing their coverage and promote
other products and services we provide.

4. FUTURE SERVICES

Although Stan Smith started out as a life insurance agent, the "life" part of our business
represents only 1% of our sales. We are looking to strengthen this part of our operation in
the future. Due to the complexity and number of life and disability products, we are
presently using an outside service: Atlantic-Smith Insurance out of North Town, although
two of our general insurance producers have life agent licenses.

We are in the process of setting up a substandard property market. We feel that there is a
need for this service and that it can be profitable if strictly underwritten with proper
controls in place.
MARKET ANALYSIS SUMMARY

Recent demographic studies in our area reveal a total year-round population of

approximately 13,000, which rises in the summer to approximately 25,000. We have a
relatively high number of seniors and many younger, newly-formed families dependent
on government assistance living mostly in a rural, unserviced, thinly populated area. This
makes it costly to service our clients. Long distance phone bills represent our second
largest expense (our two offices each have their own toll free phone numbers) and the
cost of visiting our insureds to do home inspections is time consuming due to the large
area we service.

We are targeting seniors which have proven to be a profitable, stable market for our
brokerage in spite of our present difficult economy.

We are fortunate that we have not yet had the intrusion to a large degree of mass
merchandising programs like "Silver Power." Smaller brokers have made inroads into our
traditional rural business, with low cost farm markets that sell home and auto insurance.
We understand that some of these markets are in a poor financial position and may cease
to be a factor in the future.

1. MARKET SEGMENTATION

Our market consists of senior citizens, lower-income young families (many of who are on
social assistance) and the small, family-run business (many of which are seasonal and
based on the tourist trade). There are a few industrial risks and those that are located here
are branches of larger industries which obtain their insurance through large brokers in
Bigtown.

Our target market is the seniors, family business, and middle income earners in our area.
Statistics show that over 42% of our permanent population is above 45 years of age. The
average family income is approximately $27,000 and the unemployment rate 9%.
We are cautious about encouraging business from lower income prospects since they tend
to have wood heat, homes in poor repair, and many attempt to install and repair their own
plumbing, wiring, and heating systems.

Another market of concern is out-of-area clients who may have been payment or claim
problems to local brokers and attempt to find a distant broker to provide coverage instead
of making the necessary adjustments in their own lifestyle to prevent claims.

Clients who have moved repeatedly can be difficult to obtain proper underwriting
information and past claims experience on, and we feel our staff is to be commended for
their ability to properly assess if a client should be placed to our standard markets or
would be better served by a specialty company.

2. SERVICE BUSINESS ANALYSIS

The past few years have seen tremendous upheaval in the insurance industry. The number
of players has decreased in both the broker and company communities. The automobile
product has, in the mind of the public, become unaffordable, unavailable, and impossible
to understand. The recession has curtailed insureds from properly maintaining their
homes and automobiles, and to exacerbate the situation, many clients have turned to
wood heat and started doing their own repairs and maintenance which may have
increased the number and severity of claims. Insurance fraud has become a major issue
for the entire insurance industry.

Our traditional close relationship with our companies has been strained. Brokers are
concerned that in spite of commission reductions, quotas, contract cancellations, and
refusal to write new auto business by some markets, they now may find themselves in
competition with some of the traditional broker distribution companies that are setting up
direct marketing facilities and branches. The banks, even though thwarted by the federal
government in its last budget to retail insurance from their premises, will continue
pressure on the government and now have announced they will open stand alone
insurance offices to retail insurance.
In spite of the above, we believe that the independent broker will survive. We are more
automated than most service industries. We are close to the customer, regardless of some
insurance companies' attempts to sever the traditional broker-client relationship. Our
clients, in most cases, still do not care or know which company we place them with. They
trust our judgement in selecting the proper coverage and company to place them in.

The new federal government is close to adopting a new automobile contract that
hopefully will make it affordable, understandable, and available to our clients. A
profitable automobile product will entice the companies to aggressively seek new sales
and more brokers will see companies offering contracts.

Upload/download capabilities are in many brokers offices, including our own. This will
cut costs, improve efficiency and accuracy, and help us meet the competition from banks
and direct writers. Companies that truly value and trust the broker distribution system will
align themselves with professional brokers and grant more underwriting authority similar
to Lloyds.

3. COMPETITION AND BUYING PATTERNS

The main volume of income for our brokerage is generated by automobile premiums
because they are relatively higher priced to insure than property, and because automobile
insurance is mandatory in the region. As stated previously, our success is dependent on
our staff and our companies convincing our clients and prospective clients that price,
although important, is not the only criteria for the purchase of insurance. Our advertising
stresses that we have two offices, open six days a week with after-hours support and we
have been an active, concerned, community involved, local business since 1938.

Still, price is very important and we must work with our markets to ensure that our
insurance products are available and affordable to a large part of the market. It is the
broker's job to ensure the client understands what he is buying, and if circumstances
dictate a lower-priced product, we must make our insured aware of the trade-off in
coverage versus price.
4.DISTRIBUTING A SERVICE

Our trading area is rural. Premiums are relatively low and therefore not subject to large
brokerages or specialty direct writers mounting aggressive advertising campaigns to bring
in business. There are few group plans providing insurance coverage with the exception
of our teachers. Smalltown has two independent brokers and a Co-Operators agent,
Nexttown has two independent brokers, and Southtown has one. We have just started to
see some move by locals to "Silver Power" and other specialty retailers who advertise on
radio and television. The banks are still a future unknown.

CUSTOMER SERVICE

We at Aegon Religare life are committed to maintaining the highest level of customer
service.Interacting with you via this website is an extension of this commitment .

We have designed the “Customer Service” section keeping in mind all the information
you may want to seek regarding procedures such as paying your premium various policy
servicing options. Processing a claim and so on we have also provided relevant forms that
can be downloaded easily for your use case do the write to us at
In case you need any additional information or clarification and we will revert to you as
soon as possible .
KNOWLEDGE CENTRE

Our knowledge centre is your personal resource for information that can help you
understand the basic of insurance and help you make an informed decision about a policy.
This section include details on insurance terms and concepts ,helps you analyze plans for
your various needs and lends meaning to some of the insurance jargon that you
encounter.

CHOSSING THE RIGHT PLAN

Identifying the right plan basis your need is the first crucial step towards insurance
planning .At Aegon religare we help you through this decision by identifying your
various needs offering plans that are customized for you. You may also choose a plan for
your self by identifying the life stage you are at.
ANALYSING NEED

What is your need –

Protection:-

 Need for a sound income protection in case of your unfortunate demise.

Investment:-

 Need to insure long –term real growth of your company.

Saving:-

 Save for the milestones and protect your saving too.

Pension:-

 Need to save for a comfortable life post retirement.

 Once you have analyzed your needs as per above classification, you need
to then ascertain important factors such as type of cover, insurance amount
as per one’s income, life stage and dependents. It is difficult to arrive at all
these figures yourself. Our financial consultants can help you with all the
analysis to offer a customized solution by doing a through need analysis.
 RESEARCH AND METHODOLOGY

REASEARCH OBJECTIVE

 To know the pattern of investment in insurance sector in context of Varanasian

 To know the financial literacy of investor of Varanasi people.
 To judge the risk taking attitudes of Varanasi people
 To know the investment motives preferred by Varanasi people.
 To know how the people make investment decisions in Varanasi .

1: PLANNING OF THE SURVEY:-

Preplanning is sine-guenon for any kind of survey. their some must be some preliminary
preparation. first and foremost I decided the topics to works on and then prepared some
question related to the topic considering every possible point of view .finally, I framed
the questionnaire is the language .I used simple words and easy sentences to be fairly
understood .

2: OBJECTIVE OF THE SURVE:-

-
The objective of any survey is to study the opinion of the respondent about the chosen
items. the opinions are drawn in the form of answer given to the set of question in the
questionnaire .
The topic of the present survey is “THE BRIEF STUDY OF AEGON RELIGARE AND
RECRUITMENT OF ITSFINANCIAL CONSULTANT’S”
3. SCHEDULE

Contains of the schedule are determine by taking into account the aim of the survey and
the subsequent collection of the information form the informants with the help of a
questionnaire .it is a vital part of the survey and has to be prepared with utmost care ,once
the contents of the schedule have been determine .
a-it insures complete information and data required in min.no.of question
b-the question should be worded in a simple language so that it may be easily
understandable to both the interviewer and as well as interviewees.
c-the information‘s could be filled quickly and easily with min. errors and omission.
D-there should be MCQ whose answer could be given by putting a tick mark.
E-there should be ambiguity.

Keeping in the mind the aim of my survey and all these consideration regarding schedule,
the questionnaire was formed bearing the heading “THE BRIEF STUDY OF AEGON
RELIGARE AND RECRUTEMENT OF IT’S SC
TECHINQUE OF DATA COLLECTIONS AND SIMPLING TECH.

The formostpart of project is to prepare the tools of the data collection .data have been
collected here through questionnaire interviewing every person in Varanasi who present
at time of survey in the Primary data collection total 100 customer were interviewed
.some of unable to give time for it because of their hectic schedule busy .the interview
was the direct one and the question were asked in face to face situation.
During the time of data collection the customers had to fill up .the questionnaire at the
every moment before me .they also discussed some of the question with me reasons for
using the direct method of interview was the accuracy of the personal interview .

1.DURATION OF THE SURVE

Survey was started from 15th June 2010 and got completed in the last week of july 2010

2.REPORT WRITING
In this very project only a few things have been analyzed which are essential .few things
could not get analyzed due to unreliable information supplied by the respondents.

3.IMPORTANCE TERMS OF REASERCH METHODOLOGY

a).type of research-Descriptive &conclusive

b)-data type –Primary data
c)-data size -100
d) data collection method –questionnaire
e)-data collection instruments-structured questionnaire
f)-Sample unit-All
g)-Sample technique –Random
h)-Data analysis Tools and techniques –Bar and Pie Chart
 Awareness about The sales Experience

1
2
3

Interpretation: Out of 100 people 80 respodent did not aware the sales experience only
20 people had the sales experience.

Awareness about the single

1
2

Single More than single income family

Interpretation:-
Out of 100 people family only 60 people family is single income family
and 40 member family is more than single income family
 Awareness about AEGON RELIGARE

1
2
3

YES NO Know but Not is Detail

Interpretation:
Out of 100 people 40 people know about Aegon Religare, 20 people not know
Aegon Religare and 40 people know but not in detail.

Awareness about the sales experience

0%
20%

1
2
3

80%

*yes *no
Interpretation
Remaining 80 people have no any type of sales experience
Out of hundred people only 20 people have the sales experience.
Awareness about the educational Qualification

45

40
35

30

25
Series1
20

15

10

0
1 2 3 4

High school Intermediate Graduate post graduate

Interpretation
Out of 100 people 40 people qualified 10th pass,30 people 12th pass ,20 people graduate
and only 10 people qualified post graduate.

Which type of product would you to like to sale

40

35

30
25

20 Series1

15

10
5

0
1 2 3 4 5

children plan pension plan life insurance pension plan money back plan all plan
Interpretation
Out of hundred people 30 people want to sale children plan ,10 people personal pension
plan,10 people life insurance pension plan, 5 people Money back plan,and 35 people want
to sale all type the plan.

Awareness about Rate your self in term of Insurance

0%
30%

1
2
3

70%

*Conservative Subscriber Moderate Subscriber

Interpretation
Out of 100 people 30 people rate our self as a conservative subscriber, and 70 people rate
our self as a moderate subscriber
where do you know about AEGON RELIGARE

40

35

30

25
40
20 Series1

15
20 20
10
10 10
5

0
1 2 3 4 5

Financial Any
News paper Advertisement television consultant other
Interpretation
Out of 100 people 20 people know by the news paper ,20 people know by the
advertisement,40 know by television,10 people know by the FC,and 10 people know by
any other way
Awareness About the income

80

70

60

50

40 Series1
70
30

20

10 20
8 4
0
1 2 3 4

Less than 1 lacs RS 1 lac to 2 lac Rs 2 lac to 4 lac More than 4 lac

Interpretation:
Out of 100 people the earning of 70 people under 1lac 20 people under 1 to 2 lac,8 people
under 2 to 4 lac and only 2 people came under the earning of 4 lacs

Awareness about Mandatory Parameters

 45

40

35

30

25
Series1
20 40

15 30 30

10

0
1 2 3

Resident Mobile Office

Interpretation
Out of 100 peoples, 30 people are using the Residential Phone, and 30 people using the
office phone, and 40 people use only mobile.
Awareness about the occupation

20%

1
2
50% 3

30%

*Salaried Self Employed *Student

Interpretation
Out of 100 people,50 people are student 30 people self employed and 20 people are
salaries
Awareness About rate your self in term of insurance subscriber

0%
30%

1
2
3

70%

Conservative Subscriber *Moderate Subscriber

Interpretation:
Out of 100 people 30 people rate our self as a conservative subscriber,and 70 people rate
our self as Moderate Subscriber
Which company agency having by the people?

25

20

15
25
Series1
20 20 20
10

10
5

0
1 2 3 4 5

BAJAJ Any
LIC ICICI ALLIANCE AEGON ING Vasya other
Interpretation:
Out of 100 people the agency having by the people 20 people LIC,20 ICICI,25 Bajaj
Alliance.20AEGON, 10 ING,and 5 any other companies.

4.OBSTACLES IN SURVEY

Difficulties do arrive in empirical investigation .My experience is no exception to it

.however ,they did not reflect on my project work much .Brief description of difficulties
is reproduce here
1)-the first and the foremost difficulties before me was that I was questioned about utility
of the survey.
2)-Most discouraging and the greatest difficulties before me was that some of the
respondents to took no interest in giving the required information’s considering it as a
sheer waste of time and some did not give the full and faithful information .
3)-Many of the respondents hesitated to divulge the correct amount of their monthly
income.
4)-Some of the respondent took help of imagination instead of reality
 FINDING OF THE STUDY
• Out of 100 people (80 respondent did not aware the sales experience only 20
people had the sales experience).
• Out of 100 people’s family, only 60 family is single income family and 40 people
family is more than single income family
• Out of 100 people 40 people know about Aegon Religare, 20 people not know
and 40 people’s not in detail.
• 80 people have no any type of sales experience out of 100.
• Out of hundred people only 20 people have the sales experience.
• Out of 100 people 40 people qualified 10th pass,30 people 12th pass ,20 people
graduate and only 10 people qualified post graduate.
• Out of hundred people 30 people want to sale children plan ,10 people personal
pension plan,10 people life insurance pension plan, 5 people Money back plan,and
35 people want to sale all type the plan.
• Out of 100 people 30 people rate our self as a conservative subscriber, and 70
people rate our self as a moderate subscriber
• Out of 100 people,50 people are student 30 people self employed and 20 people
are salaries.
• Out of 100 people 30 people rate our self as a conservative subscriber,and 70
people rate our self as Moderate Subscriber
• Out of 100 people the agency having by the people 20 people LIC,20 ICICI,25
Bajaj Alliance.20AEGON, 10 ING,and 5 any other companies.
 SWOT ANALYSIS

STRENGTH:-

1.Financial expertise: as a join venture of leading financial serviced groups

.AEGON RELIGARE life insurance has the financial expertise required ti manage the
long term investment safely an efficiently of their customer .
2:-Range of solution : AEGON RELIGARE life has a range of individual an groups
solution ,which can be easily customize to specific need .The company has design the
group solution for their customer to offer complete flexibility combined with a loan
charging structure

WEAKNESS:-

A.R.L.I.C.LTD Standard life insurance is a company with conservative outlook .it

believes in gradually moving up .the Company is not very aggressive

OPPURTUNITY:-

According to MD and CE of AEGON RELIGARE Standard life 90 % to 10 % people of

India are insured so the opportunities to immense . the target have been double and so the
man power is also increased .

THREAT:-
The competitor of the company are of the aggressive nature but AEGON
RELIGARE standard life insurance is of conservative nature so if the competitor of the
company continue doing aggressive nature selling the AEGON RELIGARE life
insurance Co. will loose their target customers.
 QUESTIONNAIRE

Name –
…………………………………………………………………………………..............

• Designation:-
…………………………………………………………………………………………..
• Can you please share with us about your experience in this company?

…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
• Please tell us something about your duties &responsibilities in this organization.

…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
………………………………………………………………………………………….
ABOUT RECRUITMENT IN YOUR ORGANIZATION

• Do you have recruitment policy ?

Yes No

• What are different methods that are engaged in your company?

 Internal External
• What are the internal and external source you rely on ?

INTERNAL SOURCES:-

a) Present employees b) employee referrals

c) Former employees d) Former applicants

EXTENAL SOURCES :-

a) Professional or trade association b)Adervertisements

c)employment exchangement d) college/university/institute placement
services
e)Walk ins and write ins f)consultant

g) Contractor h?) Displaced persons

i) redo and television j) Acquisition and mergers

k) Competitor
ABOUT SELECTION-

• What is the selection procedure in your organization?/what are eligibility test

conducted for screening?
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
Do you have any procedure for placement?
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………..
ORIENTATION & TRAINING

• What is possessor orientation

…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
• Do you have training policy?

Yes No

• What is the procedure for training?

…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
………………………………………………………………………………
• What is the base for training procedure?

…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………..

• What are the difference types of training you rely on?

On the job off the job both

a) Orientation training a) vestibule
b) Job instruction training b) Lecture
c) Appetents training c) Special study
d) Internship and assistantship d) Films
e) Job rotation e) Television
f) Coaching f) Conference
g) Case study
h) Role play
i) Simulation
j) The programmer instruction
k) Laboratory training
PERFORMANCE APPRAISAL:-

• Do you have any policy for performance appraisal?

Yes No
• What are the methods of performance appraisal?

TRADITIONAL METHODS MODERN METHODS

A) Rating scale A) MBO

B) Check list B) KRA
C) Forced choicer method C) 360-degree appraisal
D_ Forced distribution method D) Psychologically appraisal
E) Critical incident method e) assessment centers
f) Behaviorally anchored scales
g) Field review method
h) Performance tests and observation
i) Annual confidential reports
j) Easy methods
k) Cost accounting approach
l) Comparative evaluation approach

• What is the end result of performance appraisal?

…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
…………………………………………………………………………………………
• Do you have any welfare policy ?

Yes No
• What are the different welfare activity conducted by your organization ?

INTRAMURAL EXTRAMURAL
a) Drinking water a) Social Insurance
b) Toilets b) Benevolent fund
c) Crèche c) Maternity benefits
d) Washing facility d) Health & medical facility
e) Occupational safety e) educational facilities
f) Uniform & protective clothing f) Housing facilities
g) Shift allowance g) Recreation facilities
h) Canteen h) Leave travel facilities
i) Cleanliness & Sanitation i) Vocational training training
j) First aid appliances j) Transport facilities
k) Compensation & for accident k) Amusement facilities
l) Bathing facilities l) Games & sports
m) Improvement in condition of
employment

• Do you conduct exit interview when employee leaves the organization?

Yes No
 SUGGESTIONS

The suggestion part of the project is significant for any kind of analysis.

During my survey and beyond the survey, I noticed some of the fact , which I am
reproducing here for the purpose.

a) For proper communication with the people, there should be a weakly/ for night of
SDM /BDM which facilitate them to come up with their problem and solutions.
b) All the schemes regarding product of insurance should be clear and reached at
once to the financial consultant /people, after the declaration from Branch
Head /BDM of the Branch.
c) The coverage should be broader as many of the particular branch and customer
demanded for it.
d) There should be limited financial consultant and nor performing financial
consultant must be motivated or eliminated.
e) There is a need of a proper orientation financial consultant in term of various
training, new product knowledge and all skill.
f) Considering the branch of Varanasi, AEGON RELIGARE product plan is more
effective then the other insurance company.
g) Company should arrange a regular meetings of its financial consultant’s and
employee.
h) Company should ensure higher percentage of commission to Fc’s.
 BIBLIOGRAPHY

# Research Methodology

* By C. R. Kothari
#Statistical Method

*S.P.Gupta

*S.N. Maheshwari
#Analysis and Finding

*By the primary data

#About the company

*By the secondary data

 REFFERENCES

• http://www.buzzle.com/articles/control-strategies.html
• http://www.insurance world.com/enews0110.html
• http://money.livemint.com/IID93/F100305/AccountingPolicies/Comp
any.aspx
• http://www.financialexpress.com/news/aegon-wins-national-award-
for-excellence-in-cost-management/304571/
• https://www.mckinseyquarterly.com/Managing_overhead_costs_1604
• http://www.scrib.com/cost
• http://steel.nic.in/articles.htm
• http://www.indiainfoline.com/Markets/company/aegon religare-
Ltd/500113
• http://www.aegonreligare.com/Perfomance%20budget%20(2008-
09)Englishchap2.pdf
ANNEXURE

BOARD MEMBERS

BRIEF PROFIL OF THE BOARD OF DIRECTORS

MR.RAJIV JAMKHEDKAR-CEO OF THE COMPANY

MR. YATEESH SRIVASTAVA-CHIEF MARKETING OFFICER OF

COMPANY

MR. PRADEEP PANDEY- VICE-PRESIDENT OF THE COMPANY