A

SUMMER INTERNSHIP PROJECT REPORT ON

“STUDY OF CUSTUMER ACQUISITION

THROUGH PERSONAL SELLING”

Submitted Towards Partial Fulfillment of

Post Graduate Diploma In Management

Faculty Guide: Industry Guide Submitted By:

Mr. Mayank Sharma Mr. Anuj Chillar Rashi Batham

ASSISTANT PROFESSOR VICE PRESIDENT Bm-017112

RUPEE MAKERS

1
 STUDENTS UNDERTAKING

I Rashi Batham, a student of the Post-Graduate Diploma in Management-

Finance & Marketing, from Institute of Management Studies hereby
declare that I have completed summer internship with “Rupee Makers” as part
of the course requirement.

I further declare that the information presented in this project is true and
original to the best of my knowledge.

Date: Rashi Batham

Place: BM-017112

PGDM(2017-19)

2
 PREFACE

As a student of PGDM, one of the most reputed professional course, I consider that it’s my privilege
to thank all the person involved in the working of this project and their supervision and guidance I
have been able to complete this project.

The attractive feature of the PGDM course is that along with theory we also get has the exposure of
the practical environment. This is through the summer internship training that we have to undergo
after the completion of first year. The entire journey from the very idea of this project report to
reality would not have been possible without guidance and support of many people.

The project report is based on viability study of its customer in Gurgaun and Delhi(NCR).

A special task was assigned to me to create awareness of life insurance policy.

3
 ACKNOWLEDGEMENT

This Project has been a great learning experience for me & I would like to express my sincere
gratitude to all the people who guide me through the project and without the valuable guidance and
suggestion of these people this project would not have been complete successfully.
First and foremost, my deepest thanks to Mr. Anuj Chiller (Vice President of Rupee makers Pvt
Ltd), my mentor during the course of the project for guiding me. He has taken great pains to go
through the project and make necessary corrections as and when needed.
My deep sense of gratitude and thanks also goes out to the various personnel at Rupee Makers,
among them I would like to specially thanks to the Director Marketing of Rupee Makers: Mr.
Abhinav Aggarwal

I would like to thank Director Dr. Ajay K Jain, Dean Academic Dr. Tapan Kr. Nayak my faculty
guide Mr. Mayank Sharma for his valuable guidance and support during this project and providing
me an opportunity to learn outside the class room. His encouragement, time and efforts are greatly
appreciated.

I received constant support from my parents to accomplish this project work. Lastly I would like to
acknowledge each and everyone who contributed for my work either directly or indirectly.

4
 Table of Contents
1 Introduction

2 Company profile

3 Objectives of the study

4 Literature review

4 Research methodology

5 Data analysis and interpretation

6 Conclusion

7 Recommendation

8 Limitation

9 Bibliography

10 Appendix

5
 EXECUTIVE SYNOPSIS

Individual offering is the way toward speaking with a potential purchaser (or purchasers) up close
and personal with the reason for offering an item or administration. The primary concern that
separates individual offering from different techniques for offering is that the sales representative
behaviors business with the client face to face. Despite the fact that individual offering will probably
be compelling with specific sorts of items or administrations, it has critical applications for almost a
wide range of private companies.

The salesman utilizes a customized approach, custom-made to meet the individual needs of the
client, to show the ways that the item will profit him. The client is given the chance to make
inquiries, and the businessperson tends to any worries he has about the item

Impacting the ways that individuals demonstration in their every day utilization lives is a worry for
specialists in various disciplinary territories, including purchaser conduct brain research, humanism
and promoting.

This task is centered around considering client obtaining through individual offering. The buy
choice of venture design (extra security), as a rule, is quick by various variables viz. Psycho
graphical, Economic, Socio-Political, Legal and Demographical. There are sure different
components which should be comprehended while remembering the venture choices made by
clients, for example, Customer Buying Behavior, Customer Preferences and Perception, Brand
Loyalty and so on.

6
CHAPTER: 1

7
 INTRODUCTION

Wherever there is vulnerability there is chance. The hazard can't be turned away. It includes
different misfortunes. Thus the hazard is vulnerability of monetary misfortunes. We don't have any
summon on vulnerabilities. The protection is a co-agent gadget to spread the misfortune. Further, it
is additionally a social gadget to gather assets to meet indeterminate misfortunes. The primary
capacity of protection is to give security against the conceivable odds of creating misfortunes. It
wipes out stresses and agonies of misfortunes at devastation of property and demise. It additionally
gives cash-flow to the general public as the amassed stores are put resources into the profitable
heads. The result of protection benefits the business, the business, an individual and a gathering of
people.

Indian economy is experiencing significant change in the course of the most recent ten years
attributable to the commencement of major monetary changes influencing all divisions. The change
in perspective from a blended monetary association to a market situated association has presented all
segments to an extraordinary competition.Insurance being one among the players in the money
related segment. The business covers two noteworthy measurements viz. Disaster protection and
General protection.

An endeavor has been made in this answer to contemplate the purchasing conduct of shoppers
towards life coverage administrations and the aftereffect of individual offering on them.

8
 HISTORY OF INSURANCE INDUSTRY

Protection in some shape is as old as chronicled society. Alleged bottomry contracts were referred to
traders of Babylon as ahead of schedule as 4000– 3000 BCE. Bottomry was likewise honed by the
Hindus in 600 BCE and was surely knew in old Greece as right on time as the fourth century BCE.
Under a bottomry contract, credits were allowed to vendors with the arrangement that if the
shipment was lost adrift the advance did not need to be reimbursed. The enthusiasm on the credit
secured the protection hazard. Antiquated Roman law perceived the bottomry contract in which an
article of understanding was drawn up and subsidizes were saved with a cash changer. Marine
protection turned out to be profoundly created in the fifteenth century.

In some sense, we can state that protection showed up at the same time with the presence of human
culture. In prior economies, we can see protection as individuals helping each other. For instance, if
a house is scorched, the individuals from the network help fabricate another one. Should a similar
thing happen to one's neighbor, alternate neighbors must come to help. Something else, neighbors
won't get help later on. Protection in the cutting edge sense, began as techniques for exchanging or
circulating danger, were rehearsed by Chinese and Babylonian merchants as long prior as the third
and second centuries BC, separately.

Greek rulers were the first to guarantee their kin and made it official by enlisting the protecting
procedure in legislative legal official workplaces. They imagined the idea of the general normal.
Dealers whose products were being dispatched together would pay a relatively separated premium
which would be utilized to repay any shipper whose merchandise were casted off amid tempest or
sinking of the vessel in the ocean. The Greeks and Romans presented the birthplaces of wellbeing
and life coverage c. 600 AD when they sorted out organizations called ―benevolent social orders
which administered to the families and paid memorial service costs of individuals upon death.
Organizations in the Middle Ages filled a comparative need.

Before protection was set up in the late seventeenth century, agreeable social orders existed in
England, in which individuals gave measures of cash to a general aggregate that could be utilized
for crises. Isolate protection contracts (i.e., protection strategies not packaged with credits or
different sorts of agreements) were developed in Greeks rulers in the fourteenth century, as were
protection pools upheld by vows of landed domains. These new protection contracts enabled
protection to be isolated from venture, a partition of parts that initially demonstrated helpful in
9
marine protection. Protection ended up unquestionably refined in post-Renaissance Europe, and
particular assortments created. Protection as we probably am aware it today can be followed to the
Great Fire of London, which in 1666 A.D ate up 13,200 houses. In the fallout of this debacle,
Nicholas Barbon opened an office to guarantee structures. In 1680, he built up England's first fire
insurance agency, The Fire Office to guarantee block and casing homes.The first insurance agency
in the United States endorsed fire protection and was framed in Charles Town (advanced
Charleston), South Carolina, in 1732.

Initially people used to sell goods in their own villages and gathering society. However, with the
passage of time, they turned to nearby villages to sell (North, 1991). Furthermore, in the thirteenth
and early fourteenth centuries, the European traders used to travel to sell their goods across the
globe and to hedge the risk of theft or fraud by the Capitan or crew also known as Risicum Gentium.
However, they realized that selling this way, involves not only the risk of loss (i.e. damaged, theft or
life of trader as well) but also they cannot cover the wider market. Therefore, the trend of hiring
commissioned base agents across different markets emerged (Roover, 1945). The traders sent
(export) their goods to the agents who on the behalf of traders sold them. Sending goods to the
agents by road or sea involves different risks i.e. sea storms, pirate attack; goods may be damaged
due to poor handling while loading and unloading, etc. Traders exploited different measures to
hedge the risk involved in the exporting. Instead of sending all the goods on one ship/truck, they
used to send their goods over number of vessels to avoid the total loss of shipment if the vessel was
caught in a sea storm, fire, pirate, or came under enemy attacks but this was not good practice due to
prolonged time and efforts involved. Insurance is the oldest method of transferring risk, which was
developed to mitigate trade/business risk (Mundy, 2001). Marine insurance is very important for
international trade and makes large commercial trade possible (Petersson, 2010). According to
Kingstons (2011) the risk hedging instruments our ancestors used to mitigate risk in medieval times
were sea/marine (Mutuum) loans, commenda contract, and bill of exchanges. Nelli (1972)
highlighted that commenda contract and sea loans were almost the closest substitute of marine
insurance. Furthermore, he pointed out that for half century, it was considered that the first marine
insurance contract was floated in Italy on October 23, 1347; however, professor Federigo found that
the first written insurance contracts dates back to February 13, 1343 in Pisa. Furthermore, Italian
traders spread the knowledge and use of insurance into European and Mediterranean. In fifteenth
century, word policy for insurance contract became standardized. By the sixteenth century,
insurance was common among Britain, France, and Holland as well. The concept of insuring outside
the country emerged in the seventeenth century due to reduced trade or higher cost of insurance in
native country. According to Kingston (2011), the Lloyd’s Coffeehouse was the prominent marine
insurance marketplace in London during eighteenth century and European/American traders used

10
this marketplace to insure their shipments. The rules and regulations of insurance were adopted from
Italian merchants known as “Law Merchant” and initially these rules governed the marine insurance
across the globe. In case of dispute, policy writer and holder choose one arbitrator each and these
two arbitrators choose a third impartial arbitrator and parties were bound to accept the decision
made by the majority. Because of the inability of this informal court (arbitrator) to enforce their
decisions, in the sixteenth century, traders turned to formal courts to resolve their disputes. Special
courts were setup to solve the disputes of marine insurance like in Genoa, insurance regulation
passed to impose fine, on who did not obey the Church’s prohibitions of usury (Sea loans,
Commenda) in 1369. In 1435, Barcelona ordinance issued, making it mandatory for traders to turn
to formal courts in case of insurance disputes. In Venice, “Consoli dei Mercanti”, specialized court
to dealt with marine insurance were setup in 1436. In 1520, the mercantile court of Genoa was
replaced by more specialized court “Rota” which not only follows the merchant’s customs but also
incorporated the legal laws in it

In some sense, we can say that insurance dates back to early human society. We know of two types
of economies in human societies: natural or non-monetary economies (using barter and trade with
no centralized nor standardized set of financial instruments) and monetary economies (with
financial instruments and so on). Insurance in the former case entails agreements of mutual aid. If
one family's house gets destroyed, the neighbours are committed to help rebuild
it. Granaries embodied another early form of insurance to indemnify against famines. These types of
insurance have survived to the present day in countries or areas where a modern money economy
with its financial instruments is not widespread.

The first methods of transferring or distributing risk in a monetary economy, were practised
by Chinese and Babylonian traders in the 3rd and 2nd millennia BC, respectively.[2]Chinese
merchants travelling treacherous river rapids would redistribute their wares across many vessels to
limit the loss due to any single vessel's capsizing. The Babylonians developed a system that was
recorded in the famous Code of Hammurabi, c. 1750 BC, and practised by
early Mediterranean sailing merchants. If a merchant received a loan to fund his shipment, he would
pay the lender an additional sum in exchange for the lender's guarantee to cancel the loan should the
shipment be stolen or lost at sea.

Achaemenian monarchs in Ancient Persia were presented with annual gifts from the various ethnic
groups under their control. This would function as an early form of political insurance, and officially
bound the Persian monarch to protect the group from harm

At some point in the 1st millennium BC, the inhabitants of Rhodes created the 'general average'.
This allowed groups of merchants to pay to insure their goods being shipped together. The collected

11
premiums would be used to reimburse any merchant whose goods were jettisoned during transport,
whether due to storm or sinkage

The ancient Athenian "maritime loan" advanced money for voyages with repayment being cancelled
if the ship was lost. In the 4th century BC, rates for the loans differed according to safe or dangerous
times of year, implying an intuitive pricing of risk with an effect similar to insurance

The Greeks and Romans introduced the origins of health and life insurance c. 600 BC when they
created guilds called "benevolent societies", which cared for the families of deceased members, as
well as paying funeral expenses of members. Guilds in the Middle Agesserved a similar purpose.
The Jewish Talmud also deals with several aspects of insuring goods. Before insurance was
established in the late 17th century, "friendly societies" existed in England, in which people donated
amounts of money to a general sum that could be used for emergencies.

Insurance Policy Components

When choosing a policy, it is important to understand how insurance works. Three important
components of insurance policies are the premium, policy limit, and deductible. A firm
understanding of these concepts goes a long way in helping you choose the policy that best suits
your needs.

A policy's premium is its price, typically expressed as a monthly cost. The premium is determined
by the insurer based on your or your business's risk profile, which may include creditworthiness. For
example, if you own several expensive automobiles and have a history of reckless driving, you will
likely pay more for an auto policy than someone with a single mid-range sedan and a perfect driving
record. However, different insurers may charge different premiums for similar policies; so, finding
the price that is right for you requires some legwork.

The policy limit is the maximum amount an insurer will pay under a policy for a covered loss.
Maximums may be set per period (e.g., annual or policy term), per loss or injury, or over the life of
the policy, also known as the lifetime maximum. Typically, higher limits carry higher premiums.
For a general life insurance policy, the maximum amount the insurer will pay is referred to as
the face value, which is the amount paid to a beneficiary upon the death of the insured.

The deductible is a specific amount the policy-holder must pay out-of-pocket before the insurer pays
a claim. Deductibles serve as deterrents to large volumes of small and insignificant claims.
Deductibles can apply per-policy or per-claim depending on the insurer and the type of policy.

12
Policies with very high deductibles are typically less expensive because the high out-of-pocket
expense generally results in fewer small claims. In regards to health insurance, people who have
chronic health issues or need regular medical attention should look for policies with lower
deductibles. Though the annual premium is higher than a comparable policy with a higher
deductible, less expensive access to medical care throughout the year may be worth the trade-off.

13
 Challenges facing Insurance Industry

Growth: Low growth in mature economies with the potential for high growth in emerging
economies

Threat of new entrants: The insurance industry has been budding with new entrants every other
day. Therefore the companies should carve out niche areas such that the threat of new entrant might
not be a hindrance. There is also a chance that the big players might squeeze the small entrants.

Technology and big data: Turning the promise of new technology and big data into commercial
successes. This includes capitalizing on the opportunities in mobile and web-based services, using
big data and predictive analytics effectively, and overcoming the problems associated with legacy
technologies.

Alternative investments: Managing more complex portfolios with nontraditional assets in a low
interest rate, low economic growth environment.

Regulation: Operating under multiple regulatory jurisdictions and complying with changing rules
with regard to such things as capital requirements, transparency and reporting, and customer
interaction.

Marketing in insurance
Showcasing assumes a fundamental part inside the protection business. It is utilized to expand deals
and manage commercial center positions for real organizations and by littler organizations to
assemble and develop their organizations. The utilization of advertising can be as broad as a national
TV crusade to develop and support a noteworthy insurance agency, and as restricted as a business
cards and fliers utilized by a nearby protection specialist. Despite estimate, promoting strategies and
techniques are created by all in the business to target customers and prospects to cover their
protection requirements for home, wellbeing, life and business scope.

There are protection advertising systems that can take any protection organization from average to
progress when used effectively. Henceforth it is important that an insurance agency formulize their
showcasing systems with parcel of thought and tirelessness to catch the undiscovered potential in
the protection business. Despite the fact that this task we mean to comprehend the techniques
received by Future Generali and to discover the adequacy of these limited time systems.

14
 CURRENT SCENARIO OF INSURANCE BUSINESS

All inclusive, the offer of disaster protection business in all out premium was 56.2%.However; the
offer of life coverage business for India was high at 79.6% while the offer of non – extra security
business was little at 20.4%.

In life coverage business, India is positioned eleventh among the 88 nations, for which information
is distributed by Swiss Re. India's offer in worldwide disaster protection showcase was 2.00% amid
2013.However, amid 2013, the life coverage premium in India declined by 0.5 % ( expansion
balanced ) when worldwide protection premium expanded by 0.7%

The Indian non-extra security segment saw a development of 4.1 % (swelling balanced) amid
2013.During a similar period, the development in worldwide non-life premium was 2.3 %. Be that
as it may, the offer of Indian non-life premium in worldwide non-life coverage premium was little at
0.66% and India positions 21st in worldwide non-life coverage markets.

15
Customer Acquisition

Put simply, customer acquisition refers to gaining new consumers. Acquiring new customers
involves persuading consumers to purchase a company’s products and/or services. Companies and
organizations consider the cost of customer acquisition as an important measure in evaluating how
much value customers bring to their businesses. Customer acquisition management refers to the set
of methodologies and systems for managing customer prospects and inquiries that are generated by
a variety of marketing techniques. Some successful customer acquisition strategies include customer
referrals, customer loyalty programs, and the like. One way to think about customer acquisition
management is to consider it the link between advertising and customer relationship management, as
it is the critical connection that facilitates the acquisition of targeted customers in an effective way.

The Customer Acquisition Process

Customer acquisition requires forethought and strategies. In fact, there are many different customer
acquisition strategies that are used as part of the customer acquisition process. Some customer
acquisition methods are more effective with specific types of clients, but there are a few basic steps
that are included in any type of customer acquisition plan.

The first step of any basic customer acquisition plan is to identify quality potential customers. One
customer acquisition strategy involves reaching out to potential customers through call centers and
mailing lists. These customer acquisition methods allow companies to determine which individuals
and businesses express interest in or already use products similar to those of your company. Next,
companies qualify the leads a little further using various research methods to determine the viability
of the given lead. If the chances seem likely that you will be able to acquire this new customer, his
status is upgraded to that of prospect and assigned to a salesperson for further interaction.

Many customer acquisition programs then include establishing a relationship with prospects to
identify their needs and determine how the products offered relate to those needs. Salespeople also
attempt to identify unstated needs; these are based on data provided by ongoing conversations and
interactions with the prospects. Salespeople also can identify additional needs of prospects and offer

additional products so the prospects see a greater value from purchasing the products they
already are considering.

16
 PERSONAL SELLING

Personal selling uses in-person interaction to sell products and services. This type of communication
is carried out by sales representatives, who are the personal connection between a buyer and a
company or a company’s products or services. Salespeople not only inform potential customers
about a company’s product or services, they also use their power of persuasion and remind
customers of product characteristics, service agreements, prices, deals, and much more. In addition
to enhancing customer relationships, this type of marketing communications tool can be a powerful
source of customer feedback, as well. Later we’ll cover marketing alignment with the sales process
in greater detail. This section focuses on personal selling as one possible tool in the promotional
mix.

Effective personal selling addresses the buyer’s needs and preferences without making him or
her feel pressured. Good salespeople offer advice, information, and recommendations, and they can
help buyers save money and time during the decision process. The seller should give honest
responses to any questions or objections the buyer has and show that he cares more about meeting
the buyer’s needs than making the sale. Attending to these aspects of personal selling contributes to
a strong, trusting relationship between buyer and seller

17
CHAPTER: 2

18
 COMPANY PROFILE

RUPEE MAKERS

Rupee Makers is a leader in wealth and asset management services rendering investment
consultancy to its valuable and esteemed customers. With our strong research capabilities and a
robust team of experts, we help you make investments that will stand the test of time. We at Rupee
Makers, through our in-depth analysis and extensive research, throw up incisive views that help our
customers foresee & reduce risks, maximize returns and make informed investment decisions.
Rupee Makers is promoted by a team of professionals having a combined experience of more than
50 years in investment and real estate consultancy. Rupee Makers is committed to wealth creation
for all its clients, associates, and shareholders.

FUTURE GENERALI

Future Generali India Insurance Company Limited is a joint venture between Future Group – the
game changers in Retail Trade in India and Generali – a 187 years old global insurance group
featuring among the world’s 60 largest companies.

The company was incorporated in September 2007 with the objective of providing retail,
commercial, personal and rural insurance solutions to individuals and corporates to help them
manage and mitigate risks.

Future Generali India has been serving the customers by leveraging upon its global Insurance
expertise in diverse classes of products of Generali Group and the Indian retail game changers
Future Group. Having firmly established its credentials in this segment and effectively leveraging on

19
the skill set of both its JV partners, Future Generali India has evolved to become a Total Insurance
Solutions Company.

Future Generali Life Insurance

Parent Company Future group and Generali group

Category Insurance and finance

Sector Banking & Financial Services

Tagline/ Slogan General Insurance Company of India; Total Insurance Solutions

USP JV between a retail major in India and a global insurance major

Future Generali Life Insurance STP

Segment Personal and Institutional Insurance

Target Group Urban and Rural Investors

Positioning Complete Insurance and financial solutions

20
 FUTURE GROUP

The Future Group has pioneered the growth story of the Indian retail industry.Established 25 years
ago,it operates some of India’s most popular retail chains.

In addition to allied businesses in Life and General Insurance,the Group has presence in logistics
infrastructure,supply chain and brand development domains.

The Future Group’s core value is ‘Indianness’.Indian ideas,Indian insights,and trends of Indian
consumer expectations form the cornerstones of the Group’s businesses.

The Group aims to build novel delivery formats and profitable retail realty.Affordability for all
segments and quality-consciousness are its mainstays.With this foundation,the Group works towards
bringing about a transformation in Indian business sectors.

GENERALI GROUP

The Generali Group is an Italian Group, independent since 1831, with a strong international
presence. It is among the world’s leading insurers, with total premium income exceeding €74 billion
in 2015. With above 76,0 workers in the world, present in over 60 Countries, the Group has a
leading position in Western European Countries and an ever more significant presence in the
markets of Central and Eastern Europe and in Asia.

In 2015, Generali was the sole insurance company included among the 50 smartest companies of
the world by the MIT Technology Review

21
Vision

Our vision is to actively protect and enhance people lives-

Actively: We play a proactive and leading role in improving people lives through insurance.

Protect: We are dedicated towards managing and mitigating risks of individuals and institutions.

Enhance: Generali is also committed to creating value.

People We deeply care about our customer and our employee lives and their future.

Lives: Ultimately,we have an impact on the quality of people lives-wealth,safety,advice and

service are instrumental in improving a person chosen way of life in the long term.

Mission

Our mission is to be the first choice by delivering relevant and accessible insurance solutions

First choice :Logical and natural action that acknowledges the best offer in the market based on
clear advantages and benefits.

Delivering:We ensure achievement striving towards better performance.

Relevant:Anticipating or fulfilling a real life need or opportunity,tailored to local and personal

needs and habits,perceived as valuable.

Accessible:Simple and easy to find,understand and use;always available,at a competitive value

for money.

Insurance solutions:We aim to offer and tailor a combination of protection,advice and service.

Values

• Deliver on the promise

• Value our people

• Live the community

• Be open

22
 Future Generali Life Insurance SWOT Analysis

1. Known for its prudent investment management

2. Wide range of policies
3. International expertise and reputation of Generali group
4. Aggressive Marketing
5. Generali group is present in over 68 countries with over 85,000
employees
6. Future group operates over 12 million square feet of retail space
Strengths in 71 cities and towns and 65 rural locations

1. Small branch base

2. Low Marketing
3. Insurance companies have a poor image when it comes to
Weaknesses payment of dues

1. Growing rural market

2. Earning Urban Youth
Opportunities 3. Cross selling through financial services such as banking

1. Stringent Economic measures by Government and RBI

Threats 2. Entry of new NBFCs in the sector

23
 FINANCIALS
Future Generali India Insurance enrolled Gross Written Premium (GWP) at Rs 1,843
crore monetary 2017, a development of 16% contrasted with financial 2016. The
organization saw an expansion in arrangement volumes by 7% from 12 lakh in
monetary 2016 to 14 lakh in financial 2017. FGII detailed a dissolvability proportion
of 172% in financial 2017, an upsurge from the dissolvability proportion of 154% as
revealed in monetary 2016.[19]

PRESENCE AND DISTRIBUTION

Starting at 2017, Future Generali has more than 12.6 lakh clients in 125+ areas crosswise over India.
They settle more than 1,80,000 claims each year. They have around 2,000 dynamic corporate
customers and more than 6,000 agents.

The organization propelled 'Wellbeing Total',[11] a far reaching medical coverage item in 2015. It
presented another smaller scale protection cover, 'Sukshma Hospicash' in 2016.around the same
time, online selective travel protection items were likewise propelled by the company.

In April 2016, the organization tied up with 10 medium and little size banks in Kolhapur and Sangli
locale, pointed towards expanding provincial protection penetration.In January 2017, the
organization entered a corporate office tie up with Bank of Maharashtra to advance engine, home,
businessperson and country protection items at the 1,896 branches of the bank.It likewise went into
a tie-up with UCO Bank in March 2017.

In 2016, FGII propelled I-MoSS, an application for engine assert surveyors for speedier settlement
of engine claims.

In 2012, FGII protected the music show by AR Rahman for Rs 4 crore. By FY 2017, the
organization issued 372 film protection strategies, including the acclaimed film Bahubali 2, which
was guaranteed for an entirety of Rs 200 crore.

24
Products

The organization gives a different scope of protection, including individual, business and
social/country protection.

Initiatives & Awards

•Their CSR unit is called Sneh which focusses on wellbeing, training and condition. Their real
activities incorporate town reception, work area gift drive, hostile to tobacco mindfulness workshop,
a mental imbalance mindfulness, budgetary proficiency workshop and self-preservation instruction
for ladies.

•The organization stretched out its help to 'Muktshala' - a private office to reestablish the instructive
privileges of 80 innate offspring of transient specialists at Mahad in Raigad locale of Maharashtra.

•FGII has received a town in Palghar area of Maharashtra to give access to sanitation, clean drinking
water, grown-up instruction and professional preparing to the 132 ancestral families living in the
town.

•Best Implementation of HR Technology by HR Excellence Awards in 2016.

25
Competitors of Future Generali

ICICI Lombard

Vig India Insurance Brokers is a Private company

Cosmic Insurance Brokers

HDFC Standard Life Insurance Co. Ltd.

Bajaj Allianz Life Insurance Company Ltd

Max New York Life Insurance Ltd

LIC of India

Kotak Mahindra Old Mutual Life Insurance Ltd.

IDBI Federal Life Insurance co. ltd.

26
CHAPTER: 3

27
 OBJECTIVES OF THE STUDY

❖ To examine the extent of effectiveness of the insurance products through personal selling.
❖ To identify factors those help and effect customer retention.

THE SIGNIFICANCE OF THE STUDY

It is expressed that at the conclusion of this study, its significance would have proved itself. It is
hoped that it will be helpful to the insurance products in managing the sales, which normally should
be interested in the suggestion towards improved efficiency of its sales force and consequently
greater sales results.

THE SCOPE OF THE STUDY

❖ The insurance products are facing challenges more than ever before in the current scenario
and the stress is now on the acquiring of more customers by providing new options to them.
❖ The study shall examine how, particularly CAP is weathering this storm. To do this,
administration of questionnaire, personal interview and practical observation of operational
procedures shall be employed.

28
 LITERATURE REVIEW

MARKETING CONCEPT

The marketing concept is a term which pervades marketing literature and provides a framework in
which marketing management is taught. However, little empirical evidence exists on how well
practitioners have implemented the concept. The author performs service to marketing practitioners
and academicians by exploring the "track record" of American industry in implementing the
marketing concept.

PERSONAL SELLING

Personal selling is a major element in the marketing communication program of a business firm.
This article describes in a theoretical way the scope and significance of personal selling in
marketing, it outlines the stages of the selling process. Personal selling is the most effective
marketing communication tool because it allows salespeople to adapt their presentation to each
potential or current client. They use their knowledge of the customer’s buying process to choose
effective sales strategies. An effective sales presentation is usually the most important element of a
sales job. Most well-managed companies want their salespeople to go through the following
sequence in making a presentation: locating and qualifying prospects, a pre-approach, the
presentation itself, closing the sale and follow-up. Finding the best prospects may be the key step in
this sequence, but the close may be the hardest part.

CUSTOMER ACQUISITION

Customer acquisition is not independent processes. However, because of data limitations, customer
management decisions are frequently based only on an analysis of acquired customers. This analysis
shows that these decisions can be biased and misleading. The author presents a modeling approach
that estimates the length of a customer’s lifetime and adjusts for this bias. Using the model, the
author shows the financial impact of not accounting for the effect of acquisition on customer
retention.

29
THE SIGNIFICANCE OF PERSONAL SELLING TO INSURANCED PRODUCTS

From the discussion so far, it can be seen that personal selling much more than any other promotion
mix, is relevant and appropriate to insurance products marketing than other consumer products. This
arises from the following reasons:

There is need for practical demonstration because of the high technical and complex nature services
that can only be performed by sales person.

The vision sometimes leads to identification of more economical and modern ways of producing
product.

30
CHAPTER: 4

31
 RESEARCH METHODOLOGY

The study is based on both primary data and secondary data.

Primary Data: the primary data was collected using questionnaire. The data was collected from
respondents through personal meetings and by using online survey tools. The respondents were
asked to evaluate certain parameters representative for service quality

Secondary Data: the secondary information was collected from the internet, government agencies,
publications, journals, articles, etc

SAMPLE SIZE: 56 respondents responded to the pre-designed questionnaire.

Period of the study: 8 weeks

Location of the study: Delhi NCR

32
CHAPTER:5

33
 DATA ANALYSIS AND INTERPRETATION

1.Gender

Table no. 1

Male Female

31 22

Fig. 1

42%
male
female
58%

INTERPRETAION:

There are 58% of the male respondents and 42% female respondents.

34
2.Your age:

Table no. 2

20-30 years 44
31-40 years 9
41-50 years 0
Above 50 years 0

Fig. 2

0% 0%

17%

20-30 years
31-40 years
41-50 years
more than 50 years

83%

INTERPRETAION-

From the above data we conclude that-

➢ 83% of the respondents lie between 20-30 years

➢ 17% of the respondents lie between 31-40 years
➢ None of the respondent is above 41 years of agE

35
What is your annual income ?

Table no. 3

2.5 -5 lakh 32
5-10 lakh 15
Above 10 lakh 6

Fig. no3

11%

2.5-5 lakh

28% 5-10 lakh

above 10 lakh
61%

INTERPRETAION:

From the above data we conclude that-

➢ 61% of the respondents have income from 2.5 lakh to 5 lakh

➢ 28% of the respondents have income from 5-10 lakh
➢ 11% of the respondents have income above 10 lakh

36
4.Occupation-

Table no. 4

Student 26
Private employed 12
Govt. employed 3
Business 8
Not employed 4
Fig. no 4

7%

15% student
private employed
49%
6% govt. employed
business
not employed
23%

INTERPRETAION:

From the above data we conclude that-

➢ 49% of the respondents are students

➢ 23% are private employ
➢ 15% of the respondents are businessman
➢ 7% are not employed
➢ 6% are govt. employ

37
What degree of risk are you fearing from your investment?

Table no. 5

High 14
Neutral 19
Low 20

Fig No.5

26%
38%
high
low
neutral

36%

INTERPRETAION:

From the above data we conclude that-

➢ 38% of the respondents are having neutral approach towards risk

➢ 36% of the respondents fearing of low risk
➢ 26% of the respondents fearing of high degree of risk

38
From where do you prefer to purchase?

Table no. 6

Sales agent 22
Financial agent 12
Banks 10
Branch office 7
Online 2

Fig. no 6

4%

13%
sales agent
41% financial advisor
banks
19%
branch office
online

23%

INTERPRETAION:

From the above data we conclude that-

➢ 41% prefers to purchase their investment from sales agent

➢ 23% prefers to purchase from financial advisor.
➢ 19% prefers to purchase from banks
➢ 13% prefers to purchase from branch office
➢ Only 4% of the respondents prefers to purchase online.

39
Do agents provide true information?

Table no. 7

Yes 25
No 8
Maybe 20

Fig. no. 7

38%
yes
47%
no
maybe

15%

INTERPRETAION:

From the above data we conclude that-

➢ 47% of the respondents think agents provide true information

➢ 38% think agents may provide true information
➢ Rest or them think agents do not provide right information.

40
Why do people go for personal selling?

Table no. 8

Discounts 30
Trust level on agents 16
Better understanding of product 7

Fig. no. 8

13%

discounts

better understanding of
product
30% 57% trust level on agents

INTERPRETAION:

From the above data we conclude that-

➢ 57% of the respondents prefer personal selling because of discounts

➢ 30% prefer because of better understanding of the products
➢ Trust level on agents Is the least attracting factor

41
CHAPTER:6

42
 CONCLUSION

Individual offering has been generally acknowledged as the most fitting for the offering protection
items contrasted and other limited time blend variable like publicizing, deal advancement, exchange
display and attention. The respondents think about demonstrates that this reality additionally been
recognize by advertisers of protection items. A portion of the reasons progressed for this lucky
position of individual offering are that the protection items, in perspective of their exceptionally
specialized and concentrated nature and characterstics, require part of individual contact to
showcase them to consider consolation of the purchasers trust in the item. this is upgraded by
offering down to earth exhibition of a portion of these items where fundamental, convey them where
they required, acquire criticism shape clients et cetera. Because of these burdensome undertakings
that the business compel taking care of protection items are required to perform. In this way the
administration of offers powers of the organization, particularly one managing protection must be
alive to these significant factors altogether for effective pitching activities to secure new customers

43
 RECOMMENDATION

On the basis of the study we believe that personal selling is a prominent feature in
terms of marketing of insurance products. The concept of personal selling helps in
persuading and then acquisitioning the potential customers. The study also helps in
finding out the factors which are favorable and unfavorable for the concept. The data
collected is from both the sources primary (personal interview, questionnaire) as well
as secondary sources. These data were analysed and statistically tested to either accept
or reject the hypothesis formulated for this study.

44
 LIMITATIONS

The study was conducted in Delhi areas, hence the results of respondents is less. As many people
tend to have other life insurance and they are less aware Future Generali so, it is little difficult to
convince. Mainly responses differ, from that are taken over telephonic conversations, from that the
customer wanted to express.

45
CHAPTER:7

46
 BIBLIOGRAPHY

➢ “research method and techniques” ( research methodology “R revised second

edition by C.R.KOTHARI)

Websites
➢ https://irda.gov.in
➢ https://general.futuregenerali.in/
➢ https://rupeemakers.com

47
 ANNEXURE

Gender-

Male

Female

Your age-

20-30 years

31-40 years

40-50 years

More than 50 years

What is your or your family’s annual income ?

2.5 lakh-5 lakh

5 lakh-10 lakh

Above 10 lakh

Occupation-

Student

Private employed

Govt. employed

Business

Not employed

48
Which period you prefer to invest for?

Short term ( 6 months-5 years )

Long term (5 years and more)

Both

Which degree of risk are you expecting from your investment?

High

Neutral

Low/least

From where do you purchase?

Sales agent

Financial advisor

Banks

Branch office

Online

Do agents provide true information?

Yes

No

Why do people go for personal selling?

49
Commission/discounts

Better understanding of products

Trust factor

Easyavailability

50
51