A SUMMER INTERNSHIP PROGRAM

REPORT ON
CUSTOMER ACQUISITION

By
Momula Saipriya
2010560148

NAME OF THE COMPANY: Brisk

UNIVERSITY GUIDE: Dr. Nd Praveen
COMPANY GUIDE: MR. KARTHIK

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 A SUMMER INTERNSHIP PROGRAM
REPORT ON
CUSTOMER ACQUISITION

By
Momula SAIPRIYA
(III BBA)
(2010560148)

A report submitted in partial fulfillment of

the requirements of
BBA/MBA Program
KLH Global Business School

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 INDEX

1. Acknowledgments……………………… 04

2. List of Tables ……………………… 05

3. Abbreviations ……………………… 05

4. Summary………………………………. 06

4.1. Introduction………………………. 06
5. An Overview of Industry………… 06

6. An Overview of the Company …………………… 07

7. 3CET report ……………………… 07-09

7.1. Company 08
7.2. Customer 08
7.3. Competition 08
7.4. Environment ............................................................................................................... 09
7.5. Technology ............................................................................................................... 09
8. Objectives ................................................................................................................................ 10
9. Limitations .............................................................................................................................. 10
10. Methodology ....................................................................................................................10-11
11. Results / Findings ................................................................................................................. 11
12. Discussions .......................................................................................................................... 12
13. Conclusions ........................................................................................................................... 13

14. Bibliography …………………… 13

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 1. ACKNOWLEDGEMENT

I am immensely grateful for the enriching experience and valuable insights gained during my
internship. I would like to extend my heartfelt appreciation to BRIISK for providing me with this
exceptional opportunity.

First and foremost, I express my sincere gratitude to the company guide Karthik sir for his
unwavering support and guidance throughout the internship. His mentorship and encouragement
were pivotal in shaping my professional growth, and I have learned invaluable lessons that will
undoubtedly influence my career positively.

I would like to express my gratitude to Dr. Nd Praveen, our university guide, for his invaluable
assistance during our internship. He was very helpful in guiding us and addressing all the issues
that arose, making everything clear and easy to understand.

I would also like to take this opportunity to thank the KLHGBS placement team for giving me
the chance to work with Brisk. This experience has been extremely valuable and has contributed
to my professional skillset.

This internship experience has not only allowed me to apply the theoretical knowledge acquired
during my studies but has also given me a deeper appreciation for the practical aspects of my
field.

Thank you once again for granting me this opportunity, which has undoubtedly been a pivotal
stepping stone in my professional development.

Sincerely,
Momula Saipriya

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 2. LIST OF TABLES

Table no 01 – page no 12

3. ABBREVIATIONS

• AUM – Assets under management

• B2B - Business to Business

• B2C - Business to Customers

• 3CET - Company, Customers, Competition, Environment, Technology

• EAP - Estimated Annual Premium

• FDI – Foreign Direct Investment

• GWP - Gross Written Premium

• HLV –Human Life Value

• IRDAI – Insurance Regulatory Development Authority of India

• PIA - Primary Insurance Account

• ROE - Return on Equity

• ROI - Return on Investment

• YTM - Yield to Maturity

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 4. SUMMARY

4.1. INTRODUCTION
The insurance industry is heavily regulated to ensure consumer protection and the financial
stability of insurers. Insurers use actuarial science, statistics, and historical data analysis to assess
risks and calculate appropriate premiums for different types of policies.

In recent years, technology has also significantly impacted the insurance industry. Insurtech
(Insurance Technology) companies have emerged, using digital tools and analytics to improve
customer experience, streamline processes, and offer more personalized insurance solutions.

Overall, the insurance industry plays a crucial role in promoting economic stability by mitigating
risks and providing peace of mind to individuals and businesses alike.

5. AN OVERVIEW OF THE INDUSTRY

Our company falls under the insurance industry. Our company binds insurance with technology
to create more efficient ways to reach customers.

The insurance industry is a vital sector that offers financial protection against risks. Insurance
companies, or insurers, underwrite policies and assume the financial risk associated with
potential claims, while policyholders pay premiums in exchange for coverage against specified
perils. Types of insurance include life, health, property, liability, auto, and business coverage.
Insurance agents and brokers facilitate sales, and reinsurers help spread risk across the industry.
Regulation ensures consumer protection and financial stability. Advancements in technology,
like insurtech, enhance efficiency and customer experience. Overall, insurance fosters economic
stability by mitigating risks and providing peace of mind to individuals, businesses, and
organizations worldwide. Its role in safeguarding against unexpected events is essential for
maintaining a resilient financial environment.

Recent technological advancements, such as insurtech, have disrupted the industry positively.
Insurtech companies leverage digital tools, data analytics, and artificial intelligence to streamline
processes, enhance customer experience, and offer personalized insurance solutions.

In summary, the insurance industry is an indispensable part of modern society, promoting

economic stability by mitigating risks and providing financial security to millions of people and

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businesses globally. Its role in protecting against unforeseen events and offering peace of mind is
paramount in maintaining a resilient and stable financial environment.

6. AN OVERVIEW OF THE COMPANY

Briisk has been actively working in the Indian market since 2017 in the General Insurance as
well as the Life Insurance market. The primary ideology behind setting up a local shop in India
came after a successful micro-insurance campaign run by Briisk over the course of 2 years where
more than 15,000 individuals from financially disenfranchised societies were brought under the
umbrella of insurance.

Following that, Briisk strengthened its stronghold in the Indian market through our B2B and
B2C clients and our strategic partners consisting of insurers and distributors. While we served
the farthest corners of the country, and individuals and companies were resonating with Briisk’s
products and services, the foundation of Briisk India, a subsidiary of Briisk Limited, was laid.

After successfully integrating the micro-insurance product, through BDNI, Briisk ITP is now
integrated with India’s largest public insurance distribution network which has more than 375k+
Village Level Entrepreneurs (VLEs), 80k+ Rural Authorised Personnel (RAP), and 145k+
IRDAI-certified VLE Insurance PoS's.

VISION

Briisk enables anyone to buy or sell digital financial services, instantly and seamlessly

MISSION

We continuously build and advance an instant transaction platform that features our unique core-
tech architecture to power the open and transparent delivery of three key financial services: -
Instant Insurance - Instant Credit - Instant Foreign Exchange (FX)

7. 3 CET REPORT

3C- Company
Customers
Competition
E- Environment
T- Technology

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7.1. COMPANY

Briisk is a late-stage InsurTech start-up, founded in 2016. Today we are a team of 23 with a
focus on emerging markets. Our local teams operate from Cape Town, London, Bangalore,
Istanbul, Munich, and Nairobi.

We have deep InsurTech and financial services expertise and are passionate about creating
innovative digital insurance and distribution solutions – enabling our clients to digitize products
at lower costs and scale distribution faster.

We help our clients automate processes, digitize and innovate products and explore new
distribution channels, thereby reducing cost, increasing revenue, and delivering more value for
their customers.

7.2. CUSTOMERS

Customers are the key to any business. To establish a successful relationship between insurers
and customers, companies must focus on meeting consumer demands during each phase of the
customer journey. Nearly 60% of insurance executives rank a differentiated customer service
experience as having the highest impact on successful competition.

Briisk strengthened its stronghold in the Indian market through our B2B and B2C clients and our
strategic partners consisting of insurers and distributors.

Overall, insurance companies aim to attract a wide range of customers by offering enhanced user
experiences, personalized coverage, faster services, and more accessible ways to interact with
insurance products. As technology continues to advance, the customer base for insurtech
companies is likely to grow, with more individuals and businesses embracing digital insurance
solutions.

7.3. COMPETITION

As a rapidly growing industry insurance sector has wide competition. Briisk top competitors
include Abiquo Inc, d3i Ltd, Inifye Technologies Ltd, and KnowledgeKube.

To stay competitive, insurtech companies must continue to innovate, offer superior customer
experiences, and demonstrate the value of their technology-driven solutions. Additionally, they
need to navigate regulatory challenges and build strong partnerships with insurers, reinsurers,
and other stakeholders to solidify their position in the market.

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7.4. ENVIRONMENT

The insurtech environment is marked by rapid technological advancements, focusing on artificial

intelligence, data analytics, and digital disruption. Insurtech companies prioritize customer-
centric solutions, offering user-friendly platforms and personalized insurance products.
Regulatory challenges and data security concerns must be navigated while forging partnerships
with traditional insurers and technology firms. The sector attracts significant investment from
venture capitalists and established insurance players. Insurtech reshapes insurance products,
introducing on-demand policies, usage-based insurance, and microinsurance. Global expansion
is a common goal for insurance firms, aiming to cater to diverse markets and regulatory
environments. As the industry continues to evolve, insurtech plays a pivotal role in transforming
the traditional insurance landscape and providing innovative solutions for customers and
businesses alike.

7.5. TECHNOLOGY

Technology plays a key role in any business. Insurance companies are at the forefront of
technology adoption, leveraging cutting-edge tools to revolutionize the insurance industry.
Artificial Intelligence (AI) and Machine Learning analyze vast datasets, enabling precise risk
assessment, personalized underwriting, and fraud detection. Data analytics provides valuable
insights into customer behavior, market trends, and risk patterns, facilitating data-driven
decision-making and targeted product development.

Internet of Things (IoT) devices like wearables and sensors collect real-time data, enabling
usage-based insurance and enhancing risk monitoring. Blockchain technology ensures secure,
transparent, and tamper-proof insurance transactions, optimizing claims processing and enabling
smart contracts.

Mobile apps and digital platforms offer convenient access to policies, claim filing, and policy
management. Telematics technology enables usage-based auto insurance, setting premiums
based on driving behavior.

Robotic Process Automation (RPA) automates repetitive tasks, streamlining operations, while
cloud computing ensures scalable, cost-effective data storage and processing. Chatbots and
virtual assistants provide instant customer support, improving interactions and enhancing
customer experiences. Insurtech's innovative use of technology drives efficiency, enhances
customer engagement, and disrupts traditional insurance practices.

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8. OBJECTIVES

The objectives of submitting the report are diverse and significant. To showcase the practical
knowledge and skills I have acquired during the internship, to demonstrate how I applied
theoretical concepts in real-world scenarios. The report serves as evidence of my learning and
growth throughout the internship.

Secondly, the internship provides an opportunity for me to reflect on the experiences, identify
challenges faced, lessons learned, and personal development achieved during the internship
period.

Moreover, the report fulfills academic requirements. It ensures the integration of practical
experiences with academic theory, enriching their overall learning.

9. LIMITATIONS

Working as a customer acquisition intern in an insurtech company can be a valuable learning

experience; however, there are certain limitations associated with this role:

Limited Scope: As an intern, my role was focused on specific tasks related to customer
acquisition, which did not give me a comprehensive understanding of the entire insurtech
operation.

Time Constraints: Internships are usually of limited duration, which restricted the amount of
time I have to implement and observe the impact of my customer acquisition strategies.

Lack of Real-World Experience: As an intern, I did not get the opportunity to see the long-term
effects of my efforts or experience the challenges and complexities that arise in the customer
acquisition process. I did not have an opportunity to meet potential or real-life customers.
Limited

Changing Landscape: The insurtech industry is rapidly evolving, with emerging technologies
and market trends. As an intern, I have faced the challenge of keeping up with these changes and
adapting my strategies accordingly.

10. METHODOLOGY

This internship project report adopts a mixed-methods research approach. Data will be collected
through interviews with key personnel, customer surveys, and office observations. Quantitative

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data will be analyzed using statistical tools to gauge customer satisfaction, while qualitative data
will be thematically analyzed. Comparative analysis will benchmark the company's performance
against industry standards. Based on the findings, recommendations will be proposed,
considering the latest insuretech trends and best practices. An implementation plan will be
developed, outlining the step-by-step process for integrating solutions. Ethical considerations
will be addressed, and a list of references will be provided.

11. RESULTS / FINDINGS

CONTEXT LEARNINGS

Customer Personalization, targeted marketing, social media, and referrals

Acquisition lead to successful customer acquisition.
Persuasion Understand emotions, provide evidence, and appeal to values for
effective persuasion.
Digital SEO, content marketing, social media, analytics, and automation
Marketing are essential for successful digital marketing.
Table no: 01

12. DISCUSSIONS

This table displays the results and insights I gained during my Summer Internship Program,
where I discussed various contexts that I encountered throughout my internship. The table
includes three primary contexts: Ad sales, social media, and networking.

The additional column in the table indicates what I learned from each context. During my
internship, I was able to explore the advertising industry and expand my understanding of social
networking.

Throughout the internship period, I learned about the critical role that social media plays in
advertising. Completing tasks provided me with an opportunity to reach out to my friends and
family, who are part of my social network, and I am pleased about that.

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13. CONCLUSIONS

During my internship, I had the opportunity to reflect on my strengths and weaknesses, gaining a
better understanding of myself. I discovered that I excel in punctuality, dedication, commitment,
calmness, and analytical thinking. Additionally, I overcame my fear of working in a new
environment, boosting my confidence.

However, I also recognized areas where I need improvement, including time management,
organization, interpersonal skills, and leadership. Thankfully, I was able to work on these
weaknesses during my internship.

Moreover, I developed my interpersonal and team performance skills and learned how to handle
work pressures. Improving my public relations skills also paved the way for success in my future
career.

I believe that the theories we learn in university provide a great foundation for understanding the
broader concepts of the real market. By formulating strategies, developing new ideas, and
applying them to our businesses, we can succeed in the long term. These theories are built on the
experiences of others, which helps to contextualize our understanding.

Without a doubt, my internship at BRIISK was an amazing learning opportunity. I am grateful

for the experience and the chance to explore new things.

14. BIBLIOGRAPHY

REFERENCES

•
•
Followed the SIP 2023 Report Writing Guidelines

● https://www.linkedin.com/company/briisk-limited/
● https://www.briisk.io/company/

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