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Bajaj Allianz Life Insurance Company Limited is a union between Allianz AG, the world’s leading insurer and Bajaj Auto, one of India’s most respected names. Allianz AG is a leading insurance conglomerate globally and one of the largest asset manager in the world, managing asset worth over a Trillion Euros (over Rs 55,00,000 crores). At Bajaj Allianz, Allianz AG has more than 110 years of financial experience in over 70 countries and Bajaj Auto, trusted for over 55 years in the Indian market.

The study conducted to check out the analysis of investment pattern and where the Bajaj Allianz Life Insurance company stands compare to other life insurance companies at Dharwad. In Dharwad, it has been found out by research that, 98% of the respondent are invested in one or the other field of investment. And the majority of the investors are invested in banks. The majority of the respondent make the investment between Rs. 25,000/- to Rs 50,000/- per annum. The study was concluded based on the responses reveals that, in Dharwad all the respondent are interested to invest in Life Insurance.

And the main reasons for their investments are security, Tax Benefits & Good returns. It has been expressed by the majority of the respondents that their should be a personal visit by any representative from the company to provide sufficient information about the company and its project. And the Bajaj-Allianz Life Insurance Company is mainly lagging behind in the field of service they are giving to the customer, compare to other insurance companies. GENERAL INTRODUCTION INSURANCE SECTOR Introduction :

Insurance is a legal contract that protects people from the financial costs that result from loss of life, loss of health, lawsuits, or property damage. Insurance provides a means for individuals and societies to cope with some of the risks in everyday life. People purchase contracts of insurance, called policies, from a variety of insurance organizations. Almost everyone living in modern. Industrialized countries buy insurance. For instance, law in most states require people who own a car to buy insurance before driving it on public roads.

Lenders requires anyone who finances the purchase of a home or car with borrowed money to insure that property. Business partners take out life insurance on each other to make sure the business will succeed even if one of the partners dies. HISTORY OF INSURANCE Early Development : Historians believe insurance first developed in summer and Babylonia (both in what is now Iraq ) beginning in about 3000 bc. The merchants and traders of these societies transferred and pooled their money to protect themselves from losses of cargo thieves and pirates.

In the 18th century bc, Babylonian king Hammurabi developed a code of law, known as the code of Hammurabi, which codified many specific rules governing the practices of early risk sharing activities. For instance, the code dictated that traders had to repay merchants who financed trading voyages unless thieves stole goods in transit, which case debts would be cancelled. Seagoing merchants from Phoenicia (in and around present day Lebanon) began using a system of insurance known as about 1200 bc. In this system, backers loaned money to merchants to finance voyages.

Merchants offered their ships (the hull was known as the ship’s bottom) as collateral for such loans. When a trip succeeded, the merchant would pay the trip’s backer the original loan plus interest, the equivalent of a premium. If a ship went down on its voyage, the trip’s backer would cancel the merchant’s loan. Forms of insurance resembling bottomry had spread to other part of Asia and Mediterranean by 400 BC. In the last several centuries bc the societies of Greece and Rome developed some of the earliest systems of life insurance.

Greek and roman citizens formed benevolent societies; organizations in which members paid dues that went toward paying for the burial of members who died. Sometimes these societies also paid for the living expenses of deceased members’ families. During the middle ages (5th to 15th centuries ad), workers joined together in craft. Many guilds, particularly in England and Italy, provided benefits to workers and their families in the event of illness or death. Since the 1970s, the insurance business has grown dramatically and undergone tremendous changes.

As a result of the deregulation of financial services businesses including insurance, banking and securities trading- the roles, products and services of these formerly distinct businesses have become blurred. For instance, citizens in the U. S state of California voted in 1988 to allow banks to sell insurance in that state. In Canada, banks may also soon be allowed to sell insurance. Advances in communications technology have also allowed traditionally distinct financial businesses to keep instantaneous track of developments in other businesses and compete for some of the same customers.

Some insurance companies now offer deposit accounts and mortgages. In the United States. Life insurance companies now sell more pension plans and other asset management services that they do conventional life insurance. Developments in computer technology that have given insurance providers that ability to quickly access and process information have allowed them to custom- design policies to fit the needs of individuals customers. But the increasing complexity of policies has also made some aspects of buying and selling insurance more difficult.

For example, through the internet offers tremendous access to information about prices, it has done little to simplify the process of comparing the other offering of different insurance policies and services. Therefore, consumers have increasingly come to view insurance as a commodity, differing only in price from provider to provider. This attitude may lead people to buy insurance that does not give them the kind of coverage they need. Other types of technology and scientific developments may also have great effect on insurance.

By providing a broad scope of new information about people’s medical predispositions, genetic testing has the potential to redefine how providers of life and health insurance determine risk. Genetic engineering in medical treatments may provide new ways to extend people’s lives, changing traditional assessment of life expectancy. In addition improvements in geological and metrological technology have the potential to change the way property insures calculate risks of damage.

For example, as scientists improve their abilities to predict severe weather patterns, such as hurricanes, and geological disturbances, such as earthquake, insures may change how they provide protection against losses from such events. Insurance Industry in India : The first Indian life insurance company was the oriental life insurance company, which was started in India in 1818 at Kolkata. The Indian life insurance company act 1912 was the first statutory body that started to regulate the life insurance business in India.

The government of India nationalized the industry in two phases in 1956 (life) and in 1972 (non-life). The insurance business of the country was then brought under two public sector companies, life insurance corporation of India (LIC) and general insurance corporation of India (GIC). Central government took over the companies that were present at that time and as a result the LIC was formed. Since then LIC has worked towards spreading life insurance and building a wide network across the length and the breath of the country. The first general insurance company established in the year 1850 in Calcutta by the British.

In 1957 General Insurance Council, a wing of the Insurance Association of India. Frames a code of conduct for ensuring fair conduct and sound business practices. In 1972 the General Insurance business (nationalization) Act, 1972 nationalized the general insurance business in India with effect from 1st January 1973. It was after this that 107 insures amalgamated and grouped into four companies viz. the national insurance company ltd. , the new India assurance company ltd. , the oriental insurance company ltd. , and the united India insurance company ltd. , GIC corporate as a company.

The insurance regulatory and development authority Reforms in the insurance sector were initiated with the passage of the IRDA bill in parliament in December 1999. The IRDA since its incorporation as a statutory body in April 2000 has fastidiously stuck to its schedule of framing regulations and registering the private sector insurance companies. The other decisions taken to provide the supporting systems to the insurance sector particularly in the life insurance companies was the launch of the IRDA’s online service for issue and renewal of licenses to agents.

The approval of institutions for imparting training to agents has also ensured that the insurance companies would have a trained workforce of insurance agents in place to sell their products, which are expected to be introduced by early next year. Since being set up as an independent statutory body the IRDA has put in a framework of globally compatible regulations. In the private sector 12 life insurance and general insurance companies have been registered. Government Control and Regulation The insurance business in many countries comes under some degree of government regulation.

Insurance is complex, takes in money for something not delivered at the time of sale, and is poorly understood by many consumers. Regulation assures that insures deal fairly with clients and can actually pay out on all valid claims. List of life insurance companies |Life insurers |Websites | |Public Sector | |Life insurance corporation of India |www. licindia. om | |Private sector | | |Allianz Bajaj Life Insurance Company Limited |www. allianzbajaj. co. in | |Birla Sun-Life Insurance Company Limited |www. birlasunlife. com | |HDFC Standard Life Insurance Company Limited |www. hdfcinsurance. om | |ICICI Prudential Life Insurance Company Limited |www. iciciprulife. com | |ING vysya Life Insurance Company Limited |www. ingvysyalife. com | |Max New York Life Insurance Company Limited |www. maxnewyorklife. com | |met Life Insurance Company Limited |www. metlife. om | |Om Kotak Mahindra Life Insurance Company Limited |www. omkotakmahindra. com | |SBI Life Insurance Company Limited |www. sbilife. co. in | |TATA AIG Life Insurance Company Limited |www. tata-aig. com | |AMP Sanmar Assurance company limited |www. ampsanmar. com | |Dabur CGU Life Insurance Company Limited |www. vivaindia. com | |Reliance Life Insurance Company Limited |www. reliancelife. co. in | ? BAJAJ ALLIANZ LIFE INSURANCE COMPANY Bajaj Allianz Life Insurance Company Limited is a union between Allianz AG, the world’s leading insurer and Bajaj Auto, one of India’s most respected names. Allianz AG is a leading insurance conglomerate globally and one of the largest asset manager in the world, managing asset worth over a Trillion Euros (over Rs 55,00,000 crores).

At Bajaj Allianz, Allianz AG has more than 110 years of financial experience in over 70 countries and Bajaj Auto, trusted for over 55 years in the Indian market. ? Bajaj Allianz Life Insurance: • Is the fastest growing private life insurance company in India • Currently has over 4 million satisfied customers • We have customers care centre in 155 cities with more than 60000 insurance consultant providing the finest customer service. • One of India’s leading private life insurance companies. • It has more than 870 offices in India. Objective:

The objective of this e-Learning initiative was to conduct company- wide skill assessment of the employees, and effective knowledge dissemination for the geographically distributed offices in the fast growing company needs. The company chose to Wizdom Web LMS to give it accuracy in skills assessment and flexibility in offering training. Challenges: Some of the challenges faced were – ? Bajaj Allianz sought a fast rollout of the eLearning environment that was integrated with their proprietary HRMS, and which was customized to meet their specific requirement Since skill assessment and competency mapping was important objective for client, system had to fully support client’s job and responsibility matrix mapping to course objectives History of Bajaj Allianz: It has been 4 years since this company has established its roots in India Bajaj Allianz Life Insurance Company Limited is a joint venture between two leading conglomerates Allianz AG, one of the world’s largest Insurance companies, and Bajaj Auto, one of the biggest 2 and 3 wheeler manufacturer in the world.

The company was incorporated on 12th March, 2001 and change in company received IRDA certification on 3rd August 2001. Allianz Bajaj Life insurance Co. Ltd. , the fastest growing private life insurance company changed its corporate name to Allianz Bajaj Life insurance Co. Ltd, effective from August 03, 2004. The change n company name comes in conjunction with research findings from existing customers, business associates, prospective customers and other stake holder indicated higher comfort level and ease of recalling Bajaj name first and then Allianz, and hence the name Bajaj Allianz. ALLIANZ GROUP:

Allianz group was founded in 1890 and is one of the world’s leading insurance companies with over 110 years experience in insurance and related services. It is also the largest insurer in Europe. Allianz group has multi local structure and presence in over 70 countries. The key business areas of Allianz group include General Insurance (property, motor, engineering, marine, casualty and miscellaneous ), Reinsurance Risk management Life & health Insurance Asset management and Pension Funds Management. Cornhill insurance in the United Kingdom, Fireman’s fund in the United states of America, AGF in France, RAS s. p. in Italy, MMI in Australia are some companies under Allianz group Rated ‘AAA’ by S7P it has assets over 670 billion DM (Rs. 17,160 billion) under its management with employees strength of over 1,05,700. Allianz group provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of • Property and casualty Insurance • Life and Health Insurance • Asset management and Banking Bajaj Group: Bajaj Auto Ltd. The flagship company of Bajaj group was incorporated in 1945 as Bachraj Trading corporation. Initially it started by assembling two and three wheelers in collaboration with piaggio of Italy.

After the expiry of the agreement in 1971 the two and three wheelers acquired the brand name of Bajaj. The strength of the company lies in its strong brand image and ability to offer value for money products leveraging on its large scale operations. Bajaj is one of the India’s largest two and three wheeler manufacturer and the fourth largest manufacturer of two wheeler in the world, with an annual turnover of Rs. 42. 16 Billion. Strength of Bajaj Allianz: Bajaj Allianz is poised for an accelerated growth in the market and has already become the fastest growing private life insurance company in India.

Bajaj Allianz has a pan-India presence of office network in 300 cities of the country and is aided with a strong trained Agency network of over 35,000 Insurance Consultants with 121 MRDT qualifiers in the calendar year 2004. Bajaj Allianz has also forged strong Banc assurance and Corporate Agency relationship and continues to build on new tie-ups for fast track growth and deep market penetration. Bajaj Allianz has launched a slew of need based products to cater to each varied needs of the customers.

Currently Bajaj Allianz a product portfolio of 19 products and more need based products are yet to be launched. The latest tie-up between an insurer and fund manager is that of Allianz Bajaj life Insurance and DSP Merrill Lynch Fund Managers for on-discretionary investment advice on equity investments. The tie up is with an eye on the unit linked insurance markets, which have generated most of the growth for private insurance companies. Bajaj Allianz Life insurance Co. Ltd, the fastest growing & one of the Leading life insurer in the country, now reigns at No. 2 position from No. at the end of last financial year as per the latest IRDA results for the FY 2004-05, setting standards in growth and steady progress in a short span of time it has raced past Rs. 1001 crores GWP and FYP of Rs. 860 Crores at an accelerated growth rate of 380% as per the studied result for FY 2004-05. The market share of Bajaj Allianz Life has jumped significantly from 0. 95 % in 2003-04 to 3. 39 % in 2004-05 almost a 4 fold leap. While market share amongst the private life insurers, Bajaj Allianz has ascended two fold from 7. 3 % in 2003-04 to 15. 5% in 2004-05. Commenting on the occasion Mr.

Rahul Bajaj Chairman, Bajaj Allianz Life Insurance Company Limited, said “we are very proud to have achieved this result at Bajaj Allianz Life Insurance, which would have not been possible without the sustained & Continuous efforts of our highly motivated insurance consultants, banc assurance partners, corporate agents, very focused sales team and equally supported by the continual faith of our patrons & customers”. Bruce Bowers, Regional CEO – Asia, Allianz here for the board meeting added India is key focus market for Allianz and we are delighted with this performance and look- forward to even stronger growth.

BOARD OF DIRECTORS [pic] Rahul Bajaj Chairman [pic] [pic] Dr. Werner Zedelius Sanjay Asher Sanjive Bajaj Director Director Director MANAGEMENT TEAM [pic] [pic] [pic] Sam Ghosh Rajesh Viswanathan Anil Singh Chief Executive Officer Chief Financial Officer Chief Actuary [pic] [pic] [pic] Andrew Wakeling G.

B. Laddha Niraj Kumar Appointed Actuary Chief Investment Officer Head Alternate Channels [pic] CEO SPEAK Dear friends, Financial year 2006-07 was very satisfying as we crossed many milestones and set few records. The year has been a rewarding one for us on profitability as well as growth. I am pleased to announce that the Company has emerged as one of the leading private life insurance companies with a strong brand name and multi-channel pan-India distribution network. Some of the key performance indicators are: The Company posted a healthy profit of Rs. 662 million as compared to a loss of Rs. 367 million in the previous year. • The Gross Written Premiums grew to Rs. 53 billion showing a growth of 70% over the previous year. • The Company sold over 2 million individual policies during the current year. • The Company is the largest private life insurer in the country in terms of number of policies sold during the year and is ranked 2nd among private life insurers in terms of new business premium. • Among the ‘Top 50 Service Brands’ in Brand Equity, as per survey conducted by AC Neilson ORG-MARG.

A significant portion of current year’s new business premium – 72% came from regular premium policies as compared to 45% in the previous year. This change of strategy to concentrate on regular premium will result in a steady renewal premium stream and help in stabilizing the long term future of the Company. Our strength lies in a wide distribution network comprising of 876 offices all across the country supported by one of the largest network of individual agents, corporate agents, brokers and banc assurance partners.

The Company plans to further develop its distribution network in the coming financial year and lay stress on product development so that new generation products can be launched on an ongoing basis. Continuous up gradation of information technology systems and back office processes will ensure maintaining and improving the quality of services to the customers. We see huge opportunities lying ahead and I am confident that my team is prepared to capture all this so that we maintain and increase the lead and create a stronger brand name across the country.

I thank all our policyholders, business partners and employees for their continued support and look forward to further strengthen our relationship. Warm regards Sam Ghosh, Chief Executive Director, India : Allianz Bajaj is now Bajaj Allianz Life Insurance: Allianz Group’s Indian life insurance joint venture has changed its name to Bajaj Allianz Life Insurance. REGISTERED OFFICE Bajaj Allianz Life Insurance Company Limited, Ground Floor, G. E. Plaza, Airport Road, Yerawada, Pune – 411 006. Tel: (020) 6602 6777. Fax: (020) 6602 6789. email:[email protected] o. in Visit us at: www. bajajallianzlife. co. in (The new logo for both Indian joint venture companies incorporates the new Bajaj Auto logo) Allianz Bajaj Life Insurance Co. Ltd. , India’s fastest growing private life insurance company, announced that it has changed its corporate name to Bajaj Allianz Life Insurance Co. Ltd. , effective from August 3, 2004. Polling existing and prospective customers, business associates and other stakeholders indicated a higher comfort level and recollection level with the Bajaj name placed before Allianz.

One logo for both companies: Bajaj Allianz General Insurance Co. Ltd and Bajaj Allianz Life Insurance Co. Ltd. will now have a common logo and branding which will help increase the companies’ visibility and familiarity. The new logo incorporates the new Bajaj Auto logo. Commenting on this occasion, Sam Ghosh, Allianz Country Manager and CEO of Bajaj Allianz Life Insurance, said: “We are not only acquiring a new name, but have put in motion a new level of energy and commitment to delivering the best products.

The name change coupled with aggressive strategic market initiatives to reach and service customers better will give us an unbeatable position in the insurance market in this country. Both Life and General companies together can unleash the ‘Power of One’ and be the leader in the insurance industry. ” ? Allianz in India: Background : India’s insurance market was a state monopoly for almost three decades. A law was passed in 1999 to grant licenses for joint ventures formed with foreign investment.

In light of the new developments, Allianz joined forces with Bajaj Auto to offer both general and life insurance products. In 1956, nine years after independence, India replaced the 245 private life insurers operating then in the market by the newly founded, state-run Life Insurance Corporation of India (LIC), creating a monopoly for all pension and annuity business. In 1972, the government also placed property insurance under state control and grouped 107 private general insurance enterprises into four regional subsidiaries of the state-owned General Insurance Corporation of India (GCI).

During the 1990s, there was a shift towards a more liberal economic policy. In order to open up the insurance market to foreign players, in 1996, India set up an independent regulatory body for insurance, the Insurance Regulatory Authority which was later renamed as the Insurance Regulatory and Development Authority (IRDA). At the end of 1999, a new law was passed to allow the IRDA to grant licenses to private insurers and brokers. ? Joint venture with domestic partners :

All foreign insurers who want to operate in the Indian insurance market, have to form a joint venture with an Indian partner. In the venture, the stake of the foreign insurer must not exceed 26 percent. Allianz’ joint venture partner is Bajaj Auto, a respected Indian conglomerate with a strong market presence and an excellent distribution network. Their two joint ventures are Bajaj Allianz for General Insurance and Allianz Bajaj for Life Insursnce By March 2001 nine life insurers and five non-life insurers had received a license from the IRDA, of which Bajaj Allianz is one.

The first property policies were written in May 2001, and to date, the company has sold over 45,000 policies. In September 2001, Allianz Bajaj received the license from the IRDA to start selling life products. To date, 12 products have been introduced to the market and the response has been very positive. Besides providing quality products, it is important that the customers are able to gain access to these products through channels they prefer. The company is actively recruiting agents, expanding its distribution network and exploring lternative distribution channels such as strategic alliances with banks. Allianz’ links with India started in the 1920s Allianz first arrived in India in 1928 when it opened a branch in Delhi with Stuttgarter Lebensversicherungsbank. A branch in Bombay (now known as Mumbai) followed, to sell fire, transport and automobile insurance. In 1996, Allianz renewed its early links with India by opening a liaison office inMumbai. The Indian insurance market is widely regarded as one of the most attractive markets in Asia.

Specialists have predicted that it will be among the top four in Asia by 2005. Premium volume is projected to rise from the current 8. 5 billion US dollars to between 20 to 25 billion US dollars. Over the medium to long-term, the potential will be significantly higher. India has a population of over one billion people, yet it is one of the least insured countries in the world. Only one in three potential customers has insurance protection, and only one in every ten members of the population’s workforce makes provision for old age through insurance. Product Plans : | |Individuals Plans | |Unit Gain Insurances | |Term Care Plans | |Lifetime Care Insurance Policy | |Business Insurance Policies | |Savings And Security Policies For You And Your Family | |Rural Insurance Plan | |Healthcare Insurance | |Financial Insurance | |Pension Plus | |Retirement Plans | |Children’s Policies | |Endowment Plans and many more. |Group Insurance Schemes | |Insurance For Employee-Employer Groups | |Insurance For Non-Employer – Employee Groups | |Employees Deposit Linked Insurance | |New Group Superannuation Scheme | |New Group Gratuity Care Scheme | | | |Special Insurance Policies for NRI’s | |Invest gain Endowment Plan | |Cash gain Money Back Plan | |Child gain Kids Special Plan | |Swarna Vishranthi | | | | | | | | | | | | | | | | | |Reliance Life Insurance Company | |Company profile : | |Reliance life insurance company limited is apart of reliance capital limited of the reliance Anil Dhirubhai Ambani group . eliance capital is one of Indian leading private sector financial | |services companies, and ranks among the top 3 private sector financial service and banking companies in terms of net worth reliance capital has interests in asset management and mutual funds| |stock broking life and general insurance proprietary investments, private equity and other activities in financial services. | |Reliance capital limited (RCL) is a non-banking financial company (NBFC) registered with the reserve bank of India under section 45-IA. | |Reliance Capital sees immense potential in the rapidly growing financial services sector in India and aims to become a dominant player in this industry and offer fully integrated financial | |services. |Reliance life insurance is another step forward for reliance capital limited. To offer need based life insurance solutions to individuals and corporate. | |Reliance life insurance company limited is part of reliance capital limited of the reliance Anil Dhirubhai Ambani group. The company acquired 100% share holding in AMP sanmar life insurance | |company in august 2005. Taking over AMP sanmar provided reliance life insurance a readymade infra structure and portfolio. | |AMP sanmar life insurance was a joint venture between AMP, Australia and the sanmar group. Headquartered in Chennai, AMP sanmar had over 90 officers across the country 12000 agents and more | |than 1200 employees.

Reliance life insurance as a pan presence and a range of products catering to individuals as well as corporate needs. | | | | | | | | | |Reliance life insurance would strive hard to achieve the following goals. | |Emerge as transnational life insurer of global scale and standard. | |Achieve impeccable reputation and credentials through best business practices. |Vision : empowering everyone live their dreams | |Mission : create unmatched value for every one through | |dependable, effective, transparent, and profitable life insurance and pension plans. | |Guiding principles : Customer Care satisfaction and corporate governance. | |Founder : | |Few men history have made as dramatic a contribution to their country’s economic fortunes as did the founder of reliance. Sh. Dhirubhai H Ambani fewer still have left behind a legacy that is | |more enduring and timeless. |As with all great pioneers, there is more than one unit way of describing the true genius of Dhirubhai : The corporate Visionary, the unmatched strategist, the proud patriot, the leader of | |men, the architect of India’s capital markets, and the champion of share holder interest. | |But the role Dhirubhai cherished most was perhaps that of India’s greatest wealth creator. In one lifetime, he built, starting from the proverbial scratch, India’s largest private sector | |enterprise. | |When Dhirubhai embarked on his first business venture, he had a seed capital of barely US $ 300 (around Rs 14,000). Over the next three and a half decades, he converted this fledging | |enterprise into a Rs. 60,000 crore colossus an achievement which earned Reliance a place on the global Fortune 500 list, the first ever Indian private company to do so. | | | | | | |Products of reliance life insurance : | |Individual plans | |Savings (Endowment) | |Reliance Endowment Plan | |Reliance Connect 2 life plan |Reliance Cash Flow Plan | |Reliance Child plan | |Reliance Whole life Plan | | | |Unit linked | |Reliance Automatic Investment Plan | |Reliance Market Return Plan | |Reliance Money Guarantee Plan | | | |Risk / Protection | |Reliance term plan | |Reliance Simple Term Plan | |Reliance Special Term plan | |Reliance Special Credit Guardian Plan | |Reliance Credit Guardian Plan | |Employment Benefit Plan | |Risk (Protection) | |Reliance group Term Assurance Policy | |Reliance EDLI Scheme | | | |Pensions | |Reliance Group Gratuity Policy | |Reliance Group Superannuation Policy | | | |Business overview : | |Reliance Capital Limited (RCL) is registered as a depository participant with national securities depository ltd. (NSDL) and central depository services ltd. (CDSL) under the securities and | |exchange Board of India (depositories nd Participants)Regulations, 1996 RCL has sponsored the Reliance Mutual Fund within the Framework of the securities and exchange Board of India (Mutual | |Fund) Regulations, 1996. RCL primarily focuses on funding projects in the infrastructure sector and supports the growth of its subsidiary companies. Reliance capital asset management limited,| |reliance capital trustee co. limited reliance general insurance company limited and reliance life insurance company limited. As of March 31 2005, the company’s investment in infrastructure | |projects stood at Rs. 1071 crores. The investment portfolio of RCL is structured in a way that realizes the highest post –tax return on its investment. | | Reliance Life Insurance, the fourth largest private insurer, recorded the highest growth in new premium with 196 per cent and registered Rs 2,754 crore through fresh premium collections in 2007-08. Further, the company also achieved the highest in the industry incremental market share of 3 per cent in new premium during the previous year. The company has 745 branches operating in about 650 towns and cities. RESEARCH, METHDOLOGY AND DESIGN ? Statement of the problem : There are many reasons for buying life insurance, but the main reason is that the insured sees that he or she has some debt that would continue beyond his or her death.

The insured has a sense that he or she wants this debt cleared of his or her beneficiaries: Here are some typical reasons why people buy life insurance, 1. To provide income for a surviving spouse 2. To pay off a mortgage or other large expenses. 3. To make a significant chartable contribution to a hospital, university, or other institution. 4. To fund college education for one’s children 5. To provide key – person life insurance in a business situation. 6. To provide money for the case of one’s disabled children or parents. 7. To provide emergency funds for a loved one. Sometimes, life insurance policy is the ultimate love letter between two people. | | Objective of the study 1. To know where people invest the money. 2.

To know the parameter influencing purchase decision. 3. To know the investment range of the customer. 4. To compare the different insurance companies with respect to Reliance or Bajaj Allianz life insurance company. Scope of the study Scope of study refers to the area selected for the survey purpose. It includes businessman, employees, household and retired persons who are interested in investment in Dharwad of Karnataka. Research methodology As the market research design (investment) specify the procedure for conducting and controlling the research projects procedure for this Reliance and Bajaj- Allianz life insurance companies as follows. Description of the research design

The present study has been designed to collect the information about investment pattern and comparative study of life insurance companies with respect these companies in selected areas of Dharwad. The population consists of businessman, employees, House hold and Retired Persons. Both exploratory and descriptive types are used for correlation of data In exploratory part, we collect information of people who are invested or interested to invest in one or the other field to whom we have approached. Descriptive type of research data is undertaken to collect the information regarding the project. Limitations of the study 1. The study is limited only to Bajaj Allianz and Reliance life insurance at Dharwad. 2.

There was a constraint of time only 6 weeks (42 days). 3. The information provided by company was limited and not only company, with internet, 4. The study conducted upon both companies,(Bajaj Allianz and Reliance life insurance) Analysis And Interpretation DATA ANALYSIS AND INTERPRETATION Age of respondent : | |Frequency |Percentage |Valid Percent |Cumulative Percent| |Valid below 30 |15 |15. 0 |15 |15. 0 | |31-45 |51 |51. 0 |51 |66. 0 | |46-60 |27 |27. |27 |93. 0 | |above 60 |7 |7. 0 |7 |100. 0 | |Total |100 |100. 0 |100. 0 | | [pic] According to the above Pie chart, the maximum investors i. e are 51 % are from the age group of 31 year to 45 Years. And the minimum number of investors i. e 7% is above 60 Years Profession of Respondents : | |Frequency |Percentage |Valid Percent |Cumulative Percent| |Valid Business man |40 |40. 0 |40. 0 |40. | |Employee |50 |50. 0 |50. 0 |90. 0 | |House Hold |4 |4. 0 |4. 0 |94. 0 | |Retire |6 |6. 0 |6. 0 |100. 0 | |Total |100 |100. 0 |100. 0 | | [pic] According to the survey, the maximum investors are the employees and businessman in Dharwad. i. e 50 % & 40 % respectively. Where a the minimum percentage of the investors are house hold & retired persons i. e 4% & 6 % respectively.

Income level of the respondents : | |Frequency |Percentage |Valid Percent|Cumulative Percent| |upto 10000 |22 |22. 0 |22. 0 |22. 0 | |Rs. 10000 to 25000 |67 |67. 0 |67. 0 |89. 0 | |rs. 25000 to 40000 |10 |10. 0 |10. 0 |99. 0 | |rs. 40000 & above |1 |1. 0 |1. 0 |100. 0 | |Total |100 |100. |100. 0 | | [pic] Income level of Respondent (per Month) In Dharwad, 67 % of the respondents had an income bracket of Rs. 10,000/- to Rs. 25,000/- per month, 22% were up to rs. 10,000/- and 10% & 1 % werein the income bracket of Rs. 25,000/- to 40,000/- & above Rs. 40,000/-. Here there is a significant correlation between the income of the investor and the investment amount of the respondents. Her, as the income of the respondents increases, the amounts of investment will also increases. There is a positive correlation among these two. Percentage of Savings made out of Earnings. : | |Frequency |Percentage |Valid Percent|Cumulative Percent| |valid |Below 10% |21 |21. 0 |21. 2 |21. 2 | | |10 % to 20% |35 |35. 0 |35. 4 |56. 6 | | |20% to 30 % |40 |40. 0 |40. 4 |97. 0 | | |30 % & above |3 |3. 0 |3. 0 |100. 0 | | |Total |99 |99. 0 |100. 0 | | |Missing |System |1 |1. | | | |TOTAL | |100 |100. 0 | | | Percentage of Savings made out of Earnings of Respondents [pic] Here the majority of the respondents savings out of earnings were in the bracket of 20 % to 30 % and 21 % & 35 % of the respondents savings were below 10 % & in between 10 % to 20 %. And the rest of the respondents savings were above 30 %. Here there is a significant correlation between the savings of the investor and the investment amount of the respondents. Here, as the amount of savings of the respondents increases. There is a positive correlation among these two. Fields of investment areas preferred by the respondents | |Frequency |Percentage |Valid Percent |Cumulative | | | | | | |Percent | |Valid |Mutual fund |2 |21. 0 |21. 2 |21. 2 | | |Bank |8 |35. 0 |35. 4 |56. 6 | | |Fixed Assets |2 |40. 0 |40. 4 |97. 0 | | |Insurance |2 |3. 0 |3. 0 |100. | | |bank & Insurance |45 | | | | | |Bank & Fixed Asset |16 | | | | | |Mutual Fund & Bank |8 | | | | | |Mutual Fund & Insurance |8 | | | | | |Total |99 |99. 0 |100. 0 | | |Missing |System |1 |1. 0 | | | |TOTAL | |100 |100. | | | Majority of the respondents were invested in Bank & Insurance. And the last number of respondents were invested in Mutual Fund Preference of investment amount by the respondents | | |Frequency |Percentage |Valid Percent|Cumulative Percent| |Valid |upto 25000 |39 |39. 0 |39. 0 |39. 0 | | |Rs. 25000 to 50000 |53 |53. 0 |53. |92. 0 | | |rs. 50000 to 75000 |7 |7. 0 |7. |99. 0 | | |rs. 75000 & above |1 |1. 0 |1. 0 |100. 0 | | |Total |100 |100. 0 |100. 0 | | [pic] Preference of investment amount by the respondents Here the majority of the respondents investment amount yearly is in between Rs. 25,000/- to Rs. 50,000/- 39 % Investors range is up to 25,000/- and only one respondent was invested above 75,000/-. Here there is a significant correlation between the savings of the investor and the investment amount of the respondents.

Here, as the amount of savings of the respondents increases, the amounts of investment will also increases. There is a positive correlation among these two. There is also a significant correlation between the income of the investor amount of the respondents. Here, as the income of the respondents increases, the amounts of investment will also increases there is a positive correlation among these two. There is also correlation between the risk of the investor’s job and the investment, amount of the respondents. Here, as the risk of the respondents job increases, the amounts of investment will also increases. There is a positive correlation among these two, but not significant.

Reasons for investment given by the respondents | | |Frequency |Percentage |Valid Percent|Cumulative Percent| |Valid |Security |8 |8. 0 |8. 0 |8. 0 | | |tax Benefit |13 |13. 0 |13. 0 |21. 0 | | |Security & Tax benefit |28 |28. 0 |28. 0 |49. 0 | | |Security & good Returns |30 |30. 0 |30. 0 |79. | | |tax Benefit & Good returns |12 |12. 0 |12. 0 |91. 0 | | |Tax Benefit &Easy Liquidity |5 |5. 0 |5. 0 |96. 0 | | |Security & Easy liquidity |4 |4. 0 |4. 0 |100. 0 | | |Total |100 |100. 0 |100. 0 | | [pic] Majority of the respondents invested for security and good returns. Next because of tax Benefits. Risk of the job of respondents | |Frequency |Percentage |Valid Percent|Cumulative Percent| |Valid |very High |3 |3. 0 |3. 0 |3. 0 | | |High |25 |25. 0 |25. 0 |28. 0 | | |Average |66 |66. 0 |66. 0 |94. 0 | | |Low |5 |5. 0 |5. 0 |99. 0 | | |Very low |1 |1. 0 |1. 0 |100. 0 | | |Total |100 |100. 0 |100. 0 | | [pic]

Majority of the respondents risk of the job is neither high nor low. i. e. Average (66%). There is also a correlation between the risk of the investors job and the investment amount of the respondents. Here, as the risk of the respondents job increases, the amounts of investment will also increases. There is a positive correlation among these two, but not significant. Reference Group | | |Frequency |Percentage |Valid Percent|Cumulative Percent| |Valid |Friends |30 |30. 0 |30. 0 |30. 0 | | |Relatives |46 |46. 0 |46. 0 |76. | | |Pears |15 |15. 0 |15. 0 |91. 0 | | |Others |9 |9. 0 |9. 0 |100. 0 | | |Total |100 |100. 0 |100. 0 | | [pic] Here in reference group , the majority of the respondents are recommended by the Relatives i. e 46 %. Better means of communication, According to respondents | | |Frequency |Percentage |Valid Percent|Cumulative Percent| |Valid |Special Campaign |29 |29. 0 |29. 0 |29. | | |Personal visit |56 |56. 0 |56. 0 |85. 0 | | |News paper |5 |5. 0 |5. 0 |90. 0 | | |Television |7 |7. 0 |7. 0 |97. 0 | | |Others |2 |2. 0 |2. 0 |99. 0 | | |47 |1 |1. 0 |1. 0 |100. 0 | | |Total |100 |100. 0 |100. 0 | | [pic]

According to the survey, the majority of the respondents believes or needs personal visit of any representative from the company for better communication regarding the company and its services. Number of Respondents invested in life insurance | | |Frequency |Percentage |Valid Percent|Cumulative Percent| |`Valid |Yes |62 |62. 0 |62. 0 |62. 0 | | |No |38 |38. 0 |38. 0 |100. 0 | | |Total |100 |100. 0 |100. 0 | | [pic] Majority of the investors i. e 62 % were invested in the life insurance. Preference of life Insurance company to invest by the respondents | |Frequency |Percentage |Valid Percent|Cumulative Percent| |Valid |Reliance Life insurance |21 |21. 0 |21. 0 |21. 0 | | |ICICI prudential |22 |22. 0 |22. 0 |43. 0 | | |Bajaj Allianz |31 |31. 0 |31. 0 |74. 0 | | |Met Life |12 |12. 0 |12. 0 |86. 0 | | |Others |14 |14. 0 |14. 0 |100. 0 | | |Total |100 |100. 0 |100. | | [pic] 21% of the respondents were interested to invest in Reliance Life Insurance Company, where the majority of the respondents i. e 31 % were preferred Bajaj Allianz. Next 22 % of the respondents were preferred ICICI Prudential, and 12 % & 14 % of the respondents were preferred invest in Met Life & other companies. Bajaj Aliianz Life Insurance company is different from other company in following areas. | | |Frequency |Percentage |Valid Percent|Cumulative Percent| |Valid |Brand |16 |16. 0 |16. 0 |16. | | |Scheme |10 |10. 0 |10. 0 |26. 0 | | |Service |8 |8. 0 |8. 0 |34. 0 | | |Returns |10 |10. 0 |10. 0 |44. 0 | | |Schemes & Returns |12 |12. 0 |12. 0 |56. 0 | | |Brand & Service |5 |5. 0 |5. 0 |61. 0 | | |Service & Returns |12 |12. |12. 0 |73. 0 | | |Brand & Schemes |20 |20. 0 |20. 0 |93. 0 | | |Brand & Returns |7 |7. 0 |7. 0 |100. 0 | | |Total |100 |100. 0 |100. 0 | | [pic] According to the survey held in Dharwad, the Brand & the Schemes are the two strong things which made Bajaj Allianz Life Insurance Different from other insurance companies. [pic] Brand comparison of Life Insurance Companies.

According to the survey, Majority of the respondents strongly agree that the Brand Of LIC is Good compare to other Life Insurance Companies. [pic] Schemes comparison of Life insurance Companies According to the survey, Majority of the respondents strongly agree that the Schemes of LIC & ICICI Prudential is Good compare to other Life Insurance Companies. But comparing among Bajaj Allianz and Reliance life insurance as Bajaj Allianz life insurance gives best schemes. [pic] Comparisons of Returns of Life Insurance Companies. According to the survey, Majority of the respondents strongly agree that the Returns of Bajaj Allianz is Good compare to other Life Insurance Companies. [pic] Service Comparisons of Life Insurance Companies

According to the survey, Majority of the respondents strongly agree that the Service of Bajaj Allianz is Good compare to other Life Insurance Companies. : FINDINGS : 1. 98% of the respondents had invested in one or the other field. 2. 46 % of the respondents had invested in both banks and insurance. here the maximum number of investors invested in Bank. 3. All the respondents those who had not invested anywhere, would like to invest in Banks. 4. The maximum investors i. e 67 % having an income bracket of Rs. 10,000/- to 25,000/- 5. The maximum number of investors i. e 30% investors reason for investment is security and good returns. And 28 % investors reasons are security and tax benefits. Here the two main reasons for investment are security and tax benefits 6.

The maximum number of respondents i. e 56% believes that the personal visit of any representative by the company will be the better means to communicate with the people about the company & its products. 7. The maximum number of respondents is recommended by their relatives, next maximum respondents are recommended by friends. 8. The maximum number of respondents savings was in the bracket of 20% to 30% of their earnings. 9. The maximum number of investors prefers to invent the amount between Rs. 25,000/- to Rs. 50,000/- per annum. 10. All the investors are interested to invest in life insurance. 11. The maximum number of investors would like to invest in Bajaj Allianz i. 31 %, where in Reliance Life Insurance only 21 % of the Investors shown their interest to invest which slightly below than ICICI Prudential where 22% investors shown the interest. SUGGESTIONS 1. As it has been found by research that the maximum number of investors invests in banks so the company has to create awareness be conducting special campaigns, through advertisements, about the benefits such as tax Benefits such as tax benefits and high returns that the investors cannot get if they invest in Banks and fixed assets. 2. It has been expressed by the respondents that there should be a personal visit by any representative from the company to provide information about the company and its services. 3.

The front office employee are the key, they are should be well trained and highly qualified to maintain good relationship with customers by providing adequate information about their queries. 4. Both companies should interact with clients every three or six months or every year regarding new developments in the life sector and awareness about the new service. 5. It has been found by the research that the maximum investors invest between Rs. 25,000/- to Rs. 50,000/- per annum. so the company can suggest the investor to invest more to utilize the tax benefits at fullest extent. 6. The maximum respondents expressed that the service of the Reliance Life Insurance Company is not so the company has to improve its service by providing in time delivery of the bonds. CONCLUSION

The study conducted to check out the analysis of investment pattern where the Bajaj Allianz Life Insurance and Reliance Life Insurance company stands compare to other life insurance companies at Dharwad. I would like to conclude that people in Dharwad area having very much interest in investment and they mainly concentrate on security and good returns & tax benefits while investing. And those are both companies a mainly lagging behind in the field of service (investment) they are giving to the customer, compare to other life insurance companies.

BIBLIOGRAPHY 1. Company report 2. Website of both companies, www. allianzbajaj. co. in www. reliancelife. co. in 3. www. google. com 4. some company hand notes, and 5. some insurance books. [pic]