SUMMER TRAINING REPORT

ON

BRAND AWARENESS OF
BHARTI AXA LIFE INSURANCE

SUBMITTED TO
UTTARAKHAND TECHNICAL UNIVERSITY
REQUIRED IN PARTIAL FULLFILLMENT FOR THE DEGREE
OF

MASTER OF BUSINESS ADMINISTRATION

(2008-2010)

SUPERVISED BY: SUBMITTED BY:

Mr. RAHUL KUCHHAL SACHIN KUMAR

BEEHIVE COLLEGE OF MANAGEMENT AND TECHNOLOGY

DEHRADUN
 CERTIFICATE

This is to certify that Mr. Sachin Kumar student of MBA (2008-2010) Batch,
Beehive College of Management and Technology, Dehradun has successfully
completed his Project titled “Brand Awareness of Bharti Axa Life
Insurance” under my guidance and supervision.

I wish him commendable effort and success.

Date Supervised By

Mr. Rahul Kuchhal

 ACKNOWLEDGEMENT

I am immensely thankful to God who provides me the health & ability to

withstand the problem coming in my way.

I am thankful to Mr. Rahul Kuchhal Faculty of MBA Dept, Beehive College

of Management and Technology, Dehradun for his encouragement and
providing other assistances whenever required.

Thanks are also due to various employees for their co-operation during
research.
 CONTENTS

PAGE NO.
OBJECTIVE 5

INTRODUCTION 6

COMPANY PROFILE 20

PLANS 24

RESEARCH METHODOLOGY 47

DATA ANALYSIS AND INTERPRETATION 50

CONCLUSION 60

RECOMMENDATIONS 61

BIBLIOGRAPHY 62

ANNEXURE 63
 OBJECTIVE OF THE STUDY

A). To compare the product of Bharti Axa with other companies.

B). To study the market share of Bharti Axa.

C). To find out the customer opinion about Bharti Axa.

 INTRODUCTION

Ask anyone what his or her greatest fear is and the answer would come up with
almost universal that is death. More than the fact that we will no longer be able
to pursue our passion and aspiration after we have passed away is the feat that
we would no longer be therefore the people we so dearly cherish. Thankfully,
there is life insurance to somewhat guarantee our love ones some initial from
of sustenance in the event of our passing. A life insurance would ensure that
our loved ones would receive some resources that would help cushion the pain
of our loss. The amount depends on some factors, but resources are resources
and they would go along, long way and making sure that the people dearest to
us would be well taken cared of after our eventual death.

What is insurance?

Insurance is one of life's necessities and probably the least-understood

financial product. Insurance reimburses people for covered losses in the event
of an unfortunate occurrence such as an illness, accident, or death. At the same
time, it can encourage prevention and safety measures, provide investment
capital, lend money, and help to reduce anxiety for society at large. As a
mechanism against loss of income and a means of safeguarding assets, many
Indians have insurance in one form or another. These coverages may include
public coverage, such as disability insurance, a health care policy from an
employer, or personal insurance to protect property such as homes, computers
and cars.
 Understanding life insurance becomes easier when one realizes that
insurance was a concept developed to transfer a person's risks to another party,
thereby protecting the insured person in the event of any calamity.
Until something happens, such as a car accident, an illness, or the death
of a loved one, paying for insurance may seem like buying something you'll
never use. But even if you never submit a claim, insurance is an investment in
your future, as important as pensions and personal investments.
BENEFITS OF LIFE INSURANCE
Depending on its usage, life insurance gives various benefits. They are as
follows:
• Income for Family
Life insurance proceeds ensure a source of financial security for your
family to meet its household and living expenses.
• Pay of Debts
On the unfortunate death of the insured, the proceeds from a life
insurance policy can be used to meet outstanding debts such as
mortgages, car loans or charge account balances.
• Provide Educational Funding For Children
The cash value of a whole life insurance policy can be used to help
accumulate funds for the higher education of insured’s children.
• Equalize Inheritance
When an asset such as the family business passes on to family members
who are active in it, life insurance proceeds can be used to provide equal
assets to other family members
Apart from these there are also Investment advantages to the Insurance.
While most investment options make a person’s money work harder, they
are no substitutes to life insurance. That's because when a person takes up a
life insurance policy, he enjoy the twin benefit of risk protection as well as
returns on savings.

• Life insurance enables a person to enjoy savings that guarantee full

protection against the risk of death of the insured. These long-term
 savings are made in an easy and hassle-free manner because of low and
convenient installments (or premiums).
• Life insurance also encourages 'forced thrift'. This means that the insured
is made to pay his/her premiums by saving his/her money, which he/she
might not do in the regular course of life.
• Some life insurance policies often allow insured to take loans against his
policy, should he require money to meet any unforeseen expenditure.
What's more, some life insurance policies also allow saving on taxes.

BENEFITS OF TAKING POLICY

1. Protection: Saving through life insurance guarantee financial protection

against risk of death of the policyholder. In life insurance, on death, the full
assured is payable (with bonuses whenever applicable) whereas in other saving
schemes, only the amount saved (with interest is payable).

2. Aid to thrift: Life insurance encourages ‘thrift’. Long term saving can be
made in a relatively ‘painless’ manner because of the easy installment facility
(premiums can be paid through monthly, quarterly, half-yearly or yearly
installment). The salary saving schemes properly known as SSS provides a
convenient method of paying premium each month through deduction from
one’s salary.

3. Liquidity: loans can be raised on endowment type and whole life policies as
per policy conditions on the sole security of a policy, which has acquired a
paid-up value. Besides, a life insurance is also generally accepted as security
for even a commercial loan/housing loan.
4. Tax Relief: Tax relief in income tax is available for amounts paid by way of
premium for life insurance subject to the income tax rules in force. Assesses
can avail themselves of provisions in the law for tax relief. In such cases the
assured in affect pays a lower premium for his insurance than he would have to
pay otherwise.

5.Money When You Need It: A suitable insurance plan or a combination of

different plans can be taken to need specific needs that are likely to arise in
future, such as children’s education, start-in-life or marriage provision or even
periodical needs for cash over a predetermined stretch of time. Alternatively,
policy money can be so arranged to be made available at the time of one’s
retirement from service to be used for any specific purpose, such as for the
purchase of a house or for other investment.
HOW DOES INSURANCE FUNCTION?

The function of insurance is to protect a person against losses he can't

afford. This is done by transferring the risks of a person, business, or
organization -- the "insured" -- to an insurance company, or "insurer." The
insurer then reimburses the insured for "covered" losses -- i.e., those losses it
pays for under the policy’s term.
As the insurance consumer, one has to pay an amount of money, called a
premium, to the insurer to transfer the risk. The insurer pools all its premiums
into a large fund, and when a policyholder has a loss, the insurer draws funds
from the pool to pay for the loss. Life is full of unexpected events that can
create large financial losses. For example, whenever you drive, it is possible
that you may have a costly accident. Risks affect you by causing worry about
potential loss and how to deal with the consequences. Insurance reduces
anxiety over a possible loss and absorbs the financial brunt of its consequences
 EVOLUTION OF INSURANCE

One of the earliest forms of life insurance existed during the Greek and
Roman times when following an individual's death, all surviving members
made contributions for the burial services.
It was only much later, in the 17th century, when a formal form of life
insurance was introduced. This was under the Tontine Annuity System wherein
associations of individuals were formed and a fund was created by equal
contributions from each member. This sum was invested, and at the end of
each year, the dividend was distributed among the surviving members. In all of
this, the last remaining survivor received the entire amount of the principal.
With the passage of time, life insurance has evolved into being an easy
and affordable means of providing financial security for the insured and his/her
family, in the event of the death of the insured or his/her inability to earn due to
physical disabilities.
 INSURANCE IN INDIA

The insurance sector in India has come a full circle from being an open
competitive market to nationalization and back to a liberalized market again.
Tracing the developments in the Indian insurance sector reveals the 360-degree
turn witnessed over a period of almost two centuries.

A brief history of the Insurance sector

The business of life insurance in India in its existing form started in

India in the year 1818 with the establishment of the Oriental Life Insurance
Company in Calcutta.
Some of the important milestones in the life insurance business in India are:

• 1912: The Indian Life Assurance Companies Act enacted as the first
statute to regulate the life insurance business.
• 1928: The Indian Insurance Companies Act enacted to enable the
government to collect statistical information about both life and non-life
insurance businesses.
• 1938: Earlier legislation consolidated and amended to by the Insurance
Act with the objective of protecting the interests of the insuring public.
• 1956: 245 Indian and foreign insurers and provident societies taken over
by the central government and nationalized. LIC formed by an Act of
Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 crore
from the Government of India.
INSURANCE SECTOR REFORMS
In 1993, Malhotra Committee, headed by former Finance Secretary and RBI
Governor Mr. R.N. Malhotra, was formed to evaluate the Indian insurance
industry and recommend its future direction.
The Malhotra committee was set up with the objective of complementing the
reforms initiated in the financial sector. The reforms were aimed at “creating a
more efficient and competitive financial system suitable for the requirements of
the economy keeping in mind the structural changes currently underway and
recognizing that insurance is an important part of the overall financial system
where it was necessary to address the need for similar reforms…” In 1994, the
committee submitted the report and some of the key recommendations
included:

• Structure
o Government stake in the insurance Companies to be brought down
to 50%
o Government should take over the holdings of GIC and its
subsidiaries so that these subsidiaries can act as independent
corporations
o All the insurance companies should be given greater freedom to
operate

• Competition
 o Private Companies with a minimum paid up capital of Rs.1bn
should be allowed to enter the industry
o No Company should deal in both Life and General Insurance
through a single entity
o Foreign companies may be allowed to enter the industry in
collaboration with the domestic companies
o Postal Life Insurance should be allowed to operate in the rural
market
o Only one State Level Life Insurance Company should be allowed
to operate in each state

• Regulatory Body
o The Insurance Act should be changed
o An Insurance Regulatory body should be set up
o Controller of Insurance (Currently a part from the Finance
Ministry) should be made independent

• Investments

o Mandatory Investments of LIC Life Fund in government securities

to be reduced from 75% to 50%
o GIC and its subsidiaries are not to hold more than 5% in any
company (There current holdings to be brought down to this level
over a period of time)
 • Customer Service

o LIC should pay interest on delays in payments beyond 30 days

o Insurance companies must be encouraged to set up unit linked
pension plans
o Computerization of operations and updating of technology to be
carried out in the insurance industry

The committee emphasized that in order to improve the customer services and
increase the coverage of the insurance industry should be opened up to
competition. But at the same time, the committee felt the need to exercise
caution as any failure on the part of new players could ruin the public
confidence in the industry.

Hence, it was decided to allow competition in a limited way by stipulating the

minimum capital requirement of Rs.100 crores. The committee felt the need to
provide greater autonomy to insurance companies in order to improve their
performance and enable them to act as independent companies with economic
motives. For this purpose, it had proposed setting up an independent regulatory
body.
 THE INSURANCE REGULATORY AND DEVELOPMENT
AUTHORITY (IRDA)

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 simultaneously to provide the supporting systems to

the insurance sector and in particular the life insurance companies were 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.

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 6 general insurance companies have been registered.
Current situation

While other nations have witnessed fierce competition in their insurance

sectors, India’s historical situation has resulted in lack of momentum and hence
penetration. This has left a majority of the population uninsured. This is the
potential that insurers will tap and as a result, the sector will explode into a hot
cauldron of companies fighting for a share of the consumer’s wallet. Entry of
private players has broken the monopoly of LIC in the insurance sector. But
even though the market share of LIC reduces, it will still retain its number one
position for several years. Going forward, the private sector is expected to
garner approximately 25 per cent market share. The winners in this game will
undoubtedly be the customers who will receive superior products & services,
and of course, the nation’s treasury. The opening of the insurance sector will
therefore result in a healthier economy.

As a percentage of GDP, Life Insurance is just about 1.4 percent. So, the
challenge is to increase both average amounts for which each person gets
insured as well as to increase the overall coverage of insurance across the
population. The insurance sector is likely to grow to about $ 35 billion dollars
by 2008 from the current $7.2 billion.

Two things that stand out in Indian Insurance Industry are that of the low
awareness of insurance need amongst the Indian consumer and therefore low
penetration in the market. Second is that of the absence of a range of suitable
products available for the consumers to suit his needs.
Now Let us have a look how Private Players “ICICI Prudential” & “Birla
Sunlife Insurance” has performed in the Indian Life Insurance market and what
strategies have they followed to become the Number two and number three in
the market respectively with a sizeable market share just in the span of two
years.
 COMPANY PROFILE OF BHARTI AXA

Bharti AXA Life Insurance is a joint venture between Bharti, one of India’s
leading business groups with interests in telecom, agri business and retail, and
AXA, world leader in financial protection and wealth management. The joint
venture company has a 74% stake from Bharti and 26% stake of AXA.

The company launched national operations in December 2006. Today, we have

over 8000 employees across over 12 states in the country and a national
footprint of distributors trained to provide quality financial advice and
insurance solutions to the large Indian customer base.

As we further expand our presence across the country with a large network of
distributors, we continue to provide innovative product and service offerings to
cater to specific insurance and wealth management needs of customers.
Whatever your plans in life, you can be confident that Bharti AXA Life will
offer the right financial solutions to help you achieve them.

The vision of Bharti AXA Life Insurance Company Limited is to become the
preferred life insurance company in India. This vision extends to our
recruitment philosophy as well. Both the Bharti Group in India and AXA
globally enjoy the status of being a very employee focused organization.
At Bharti AXA Life Insurance, we are determined to achieve our vision
through talent who are empowered, focused on customer service, and
champions of strategic and operational excellence.

The guiding Human Resources principles at Bharti AXA are:

• Clearly define scope of responsibilities and empower people to deliver

• Provide people with the means to develop their competencies
• Consider individual training and development a priority investment
• Build organizations that are conducive to teamwork and that involve
everyone
• Promote ongoing dialogue between managers and the people who report
to them
• Make cultural difference a key source of strength
 VISION

To be a leader and the preferred company for financial protection and wealth
management in India

VALUES

• Professionalism
• Innovation
• Team Spirit
• Pragmatism
• Integrity
Strategy

• To achieve a top 5 market position in India through a multi-distribution,

multi-product platform
• To adapt AXA's best practice blueprints as a sound platform for
profitable growth
• To leverage Bharti's local knowledge, infrastructure and customer base
• To deliver high levels of shareholder return
• To build long term value with our business partners by enhancing the
proposition to their customers
• To be the employer of choice to attract and retain the best talent in India
• To be recognised as being close and qualified by our customers

Strategic differentiators

• Strong partner Bharti - provides access to customer base of more than 20

million
• Multi channel execution capability
• Current Asia product range which is a strong match to products sold to
the mass and mass affluent
• Global scale providing cost effective and speedy re-use of systems,
products and business capability
PLANS
 INDIVIDUAL PLANS OF BHARTI AXA

BHARTI AXA LIFE GUARANTEE BUILDER

A Unit Linked Guarantee Plan

Guarantee Builder provides you with a comfort factor on your investments and
you can be sure that this comfort factor keeps building year-on-year. It's a solid
investment plan that lets you achieve your long-term goals by investing in a
mix of debt and equities, while providing a Guaranteed Maturity Value over 15
years. What's more, you need not worry about your family's security as it has a
strong life insurance protection embedded.

. Guarantee Builder provides you with a comfort factor on your investments

and you can be sure that this comfort factor keeps building year-on-year. It's a
solid investment plan that lets you achieve your long-term goals by investing in
a mix of debt and equities, while providing a Guaranteed Maturity Value over
15 years. What's more, you need not worry about your family's security as it
has a strong life insurance protection embedded.

Key Benefits:

• Ensure solid protection for your family through a Death Benefit that
offers Sum Assured PLUS Fund Value
• Get the comfort of a Guaranteed Maturity Value (GMV) which means
atleast your investment premiums are returned at maturity.
• Get the power of Builder, which means that you can expect your GMV
to potentially increase by 1% each year till it reaches 115% by the time
Guarantee is applicable.
• The new Build n Protect Fund ensures not only safety to your
investments, but also provide you the springboard for growth of your
investments over the long-term by allocating upto 40% in large-cap
stocks.
• Get tax benefits on the premiums paid and benefits received as per the
prevailing tax laws.
 BHARTI AXA LIFE BRIGHT STARS

A Unit Linked Child product.

Bharti AXA Life Bright Stars provides a launch pad for your child’s bright
future. What else, You also have Jumpstart benefit which is paid out at
maturity along with Policy Fund Value, which enables your child to explore
more career options.

Bharti AXA Life Bright Stars provides a launch pad for your child’s bright
future. What else, You also have Jumpstart benefit which is paid out at
maturity along with Policy Fund Value, which enables your child to explore
more career options.

Key Benefits:

• Get 360` protection in securing your child’s future.

o Payment of sum assured immediately on death;
o Payment of future premiums by the company till maturity;
o Get Policy Fund Value along with Jumpstart benefit at maturity.
• A Jumpstart benefit to boost your maturity proceeds.
• A flexible Policy which adjusts to your financial needs by giving you
various options like top ups, choice of investment funds, switch,
withdrawals, cover continuance option, decrease in premium and more.
• Choice of 5 policy terms to match your financial goals.
• Get tax benefits on the premiums paid and benefits received as per the
prevailing tax laws.
Bharti AXA Life Spot Suraksha

Spot Suraksha helps you create a pool of wealth to meet your long-term needs,
with an added advantage of simplified buying process

Spot Suraksha helps you create a pool of wealth to meet your long-term needs,
with an added advantage of simplified buying process

Key Benefits:

• Easy to buy Investment solution - with a simplified proposal form, no

medical examinations & you are insured on the spot with the issuance of
a cover note!!
• 130% of first year premium is returned as Guaranteed Special Addition
on death or on Maturity.
• Allocation rates 100% from year 2 onwards!
• 3 investment fund options as per your investment preferences & the
facility to switch amongst the investment funds as per your investment
objectives.
• Flexibility of partial withdrawals after fifth Policy Year, cover
continuance option after seven policy years
• Tax benefits under section 80C and 10(10D) of Income Tax Act.
 BHARTI AXA DREAM LIFE PENSION

A Unit Linked Pension Product

Dream Life Pension, Bharti AXA Life Insurance's unique pension product
ensures that your retirement life is your Dream Life.

Live your Dreams! Be Life Confident.

Dream Life Pension, Bharti AXA Life Insurance’s unique pension product
ensures that your retirement life is your Dream Life.

Live your Dreams! Be Life Confident.!

Key Benefits:

• Unmatched flexibility for retirement wealth creation

o Pay one time lump sum or regular premiums
o At the inception systematically increase your premiums by 5 % or
8% each year with the Accumulator Option
o Increase/decrease premiums any time after the 2nd policy year
o Add top up premiums any number of times after the 1st policy
year
• Dream Life Pension enhances your retirement kitty by providing special
addition, starting from the end of 10th policy year
• Change your planned retirement age any time during the policy term
• Obtain tax benefits as per the prevailing tax laws on the premiums paid
and the benefits received under the policy.
 BHARTI AXA LIFE ASPIRELIFE

Unit Linked Endowment Product.

Aspire Life helps you create a pool of wealth to meet your long-term needs,
while also providing you adequate protection in case the need arises.

Aspire Life helps you create a pool of wealth to meet your long-term needs,
while also providing you adequate protection in case the need arises.

Now you can be confident of your long term financial goals turning into
reality. Be Life Confident.

Key Benefits:

• Allocation rates as high as 100% i.e. no allocation charges for premiums

greater than or equal to Rs.50,000 on your investment in the unit-linked
fund from year 2 - to maximize your investment returns.
• Up to 175% of the first year premium paid by you is returned as
Guaranteed Special Addition, at maturity of the policy or on unfortunate
event of death of the Life Insured.
• 3 investment fund options as per your investment preferences.
• Flexibility of partial withdrawals after fifth Policy Year, premium
holiday option after seven policy years and facility to switch amongst the
investment funds as per your investment objectives.
• Protection benefit which provides high Sum Assured for longer policy
terms.
 • Tax benefits under section 80C and 10(10D) of Income Tax Act

BHARTI AXA LIFE INVESTCONFIDENT

Unit Linked Single Premium Product.

You have always strived hard to achieve the best for you and your loved ones,
so when it comes to making an investment decision, we know that you would
expect the best from it too.

You have always strived hard to achieve the best for you and your loved ones,
so when it comes to making an investment decision, we know that you would
expect the best from it too.

Presenting InvestConfident, a unique single premium, unit linked investment

and protection product which not only strives to maximise your investment
returns but also gives you an enhanced flexibility to suit it according to your
protection needs, because we at Bharti AXA Life Insurance,believe that your
hard earned money deserves nothing but the best.

Now, be confident of choosing the best financial solution for your

investment and life insurance needs. Be Life Confident.

Key Benefits:

• Convenient single premium product with policy benefit period till the
age of 70.
 • Unique special additions starting from the end of 5th policy year and
thereafter at the end of every 5 years till the maturity date.
• 3 investment fund options as per your investment preferences.
• Basic Sum Assured of five times the single premium.
• Unique option of investing additional amount at your convenience
through Top Up Premiums.
• Flexibility of partial withdrawals after the third Policy Year
• Additional benefit of Rs.5,00,000 in the event of death due to an
accident.
• Tax benefits under section 80C and 10(10D) of Income Tax Act.

Why should you buy InvestConfident?

InvestConfident is a suitable product for lump sum investment needs. You can
enhance your investment and protection needs by adding money as much as the
initial lump sum amount every year through top ups. Being a unit-linked plan,
it also suits your requirement of deriving potentially higher returns by
assuming the appropriate risks. InvestConfident offers you flexibility, loyalty
and convenience and gives your investments a premier treatment.
 BHARTI AXA LIFE WEALTHCONFIDENT

A unit-linked investment cum protection policy.

Your wealth, your status ensures that you get preferential status wherever you
go. So why shouldn't your money get the same?

Your wealth, your status ensures that you get preferential status wherever you
go. So why shouldn't your money get the same?

WealthConfident, a unit-linked investment cum protection product, with its

limited period premium payment facility of 5 years, premium payment
flexibility, higher allocation of your premium for investment, unique special
additions and life insurance benefit, not only makes your money grow but also
provides your investment the special treatment that it deserves.

"Be confident of providing your investments the right mix of growth,

flexibility and loyalty benefits. Live confident with WealthConfident."

Key Benefits:

• Pay premium for five years, while your policy continues for ten years.
• Higher allocation of your premium up to 88% for investment.
• Special additions of units added every year from 6th Year for
incremental wealth creation.
• Choose from four different investment funds to meet your financial
objectives.
• Five times the life cover of your annual premium.
• Tax benefit under 80C and 10(10D).
Why should you buy this plan?

WealthConfident is a suitable product for you, if your key objective is to

potentially maximize your wealth to fulfill your future financial objectives such
as child's higher education, building a retirement kitty, asset creation, etc.

The limited premium payment term of 5 years for a 10 year policy, also suits
your requirements of premium payment flexibility.

Being a unit-linked plan, it also suits your requirement of earning potentially

higher returns by assuming the appropriate risks.
 BHARTI AXA LIFE FUTURECONFIDENT

A unit-linked policy which offers comprehensive protection along with wealth

creation in the long term.

Imagine this, 12 years from now, your son will go for his MBA degree, or 15
years from now, you will have to find a suitable son-in-law, or 20 years from
now, you will require money, to spend a happily retired life.

For your long-term financial milestones, our endeavour at Bharti AXA Life
Insurance is to provide you with suitable long-term financial solution.

"FutureConfident is a complete financial solution that serves you in building

wealth for your long-term needs, but most importantly, provides
comprehensive financial protection to your loved ones, against all odds."

Now be confident of a solution that works for your long-term needs to

make your future confident. Be Life Confident.

Key Benefits:

• Life insurance benefit of up to 420 times the monthly premium.

• Comprehensive overall protection through "Protection Enhancers" in the
form of riders.
• Wealth creation for your long term financial needs.
• Special additions at regular intervals, starting from 7th year, to enhance
your wealth.
• Four different investment funds to meet your financial objectives.
• Tax benefit under 80C and 10(10D).
Why should you buy this plan?

FutureConfident is a suitable product for you, if your objective is long-term

targeted wealth creation over 15-20 years, either for your own retirement or for
your children's future, while at the same time providing your family a
comprehensive protection against unfortunate incidences in life.

Being a unit-linked plan, it also suits your requirement of deriving potentially

higher returns by assuming the appropriate risks.
Bharti AXA Life Future Confident

A unit-linked product which offers enhanced protection along with wealth

creation in the long term.Imagine this, 12 years from now, your son will go for
his MBA degree, or 15 years from now, you will have to find a suitable son-in-
law, or 20 years from now, you will require money, to spend a happily retired
life.

When financial protection alongwith the wealth creation for long-term needs is
your key financial objective, you need a solution that provides that extra
protection for your loved ones, while creating wealth for your long-term
goals.FutureConfident II is a complete financial solution that serves you in
building wealth for your long-term needs, but most importantly, provides
comprehensive financial protection to your loved ones, against all odds."

Now be confident of a solution that works for your long-term needs to

make your future confident. Be Life Confident.

Key Benefits:

Build Wealth for your long term financial needs with enhanced financial
protection.

• Sum assured up to 420 times the monthly premium.

• Life insurance benefit as Sum assured PLUS Policy fund value.
• Four different investment funds to meet your financial objectives.
• Comprehensive overall protection through "Protection Enhancers" in the
form of riders.
 • Special additions at regular intervals, starting from the end of 7th year,
to enhance your wealth.
• Tax benefit under sections 80C and 10(10D) of Income Tax Act.

Why should you buy this plan?

FutureConfident II is a suitable product for you, if your objective is long term

targeted wealth creation over 15-20 years, either for your own retirement or for
your children's future, while at the same time providing your family a enhanced
protection against unfortunate incidences in life.
Bharti AXA Life Save Confident

Traditional money back insurance product for long term savings.

Your changing lifestages decide your financial milestone planning. When you
foresee intermittent financial requirements in the years to come, like regular
expenses related to your child’s education, liquidity becomes a key aspect of
your planning along with long term savings, and protection for your family.

Imagine this, 12 years from now, your son will go for his MBA degree, or 15
years from now, you will have to find a suitable son-in-law, or 20 years from
now, you will require money, to spend a happily retired life.

When financial protection alongwith the wealth creation for long-term needs is
your key financial objective, you need a solution that provides that extra
protection for your loved ones, while creating wealth for your long-term goals.

"FutureConfident II is a complete financial solution that serves you in building

wealth for your long-term needs, but most importantly, provides
comprehensive financial protection to your loved ones, against all odds."

Now be confident of a solution that works for your long-term needs to make
your future confident. Be Life Confident.
Key Benefits:

• Build Wealth for your long term financial needs with enhanced financial
protection.
• Sum assured up to 420 times the monthly premium.
• Life insurance benefit as Sum assured PLUS Policy fund value.
• Four different investment funds to meet your financial objectives.
• Comprehensive overall protection through "Protection Enhancers" in the
form of riders.
• Special additions at regular intervals, starting from the end of 7th year,
to enhance your wealth.
• Tax benefit under sections 80C and 10(10D) of Income Tax Act.

Why should you buy this plan?

FutureConfident II is a suitable product for you, if your objective is long term

targeted wealth creation over 15-20 years, either for your own retirement or for
your children's future, while at the same time providing your family a
enhanced protection against unfortunate incidences in life.

Being a unit-linked plan, it also suits your requirement of deriving potentially

higher returns by assuming the appropriate risks.
 BHARTI AXA LIFE SECURE CONFIDENT

A Long Term Life Insurance.

All of us desire to maximise the happiness for our family at all times,
irrespective of the circumstances. The thought of unfortunate events befalling
us may cause us anxiety about providing a secured happiness to our loved
ones.

All of us desire to maximise the happiness for our family at all times, irrespective of the
circumstances. The thought of unfortunate events befalling us may cause us
anxiety about providing a secured happiness to our loved ones. Insurance can
help you ease your worries. Now, Bharti AXA Life Insurance Company
Limited presents SecureConfident, a simple long-term life insurance product
that aims to ensure that the dreams that you aspired for your family in your
lifetime, don’t remain unfulfilled by the financial void which might get created
due to unfortunate event of death.

Now be confident of the happiness of your loved ones at all times,

irrespective of the circumstances. Be life confident.

Key Benefits:

• Term Assurance for 5,10,15,20,25 years.

• Financial protection against unfortunate event of death at an affordable
cost.
• Comprehensive overall protection with help of riders.
• Tax benefit under section 80C and 10(10D) of Income Tax Act.
Why should you buy SecureConfident?

SecureConfident is suitable to you, if your objective is to protect your family

against any financial loss caused due to unfortunate death, disability or critical
illnesses, which may deprive them of a secured future.
 GROUP PLANS

BHARTI AXA LIFE - CREDITSECURE

Bharti AXA Life CreditSecure is a group product, offering life insurance

coverage to customers of financial institutions who have availed of a loan.
CreditSecure is comprehensive solution that helps protect your customer’s
assets and savings in the unfortunate event of death.

Bharti AXA Life - Sanjeevani

Sanjeevani is a single premium group term life insurance product, offering

protection to your family.

Bharti AXA Life - Swasthya Sanjeevani

Swasthya Sanjeevani is a single premium group critical illness product,

providing comprehensive protection against 6 critical illnesses.

Bharti AXA Life - Sanjeevani

Sanjeevani is a single premium group term life insurance product, offering

protection to your family.
Bharti AXA Life Mortgage Credit Shield

Mortgage Credit Shield is a Group Product that provides coverage to people

who have availed of a Mortgage\ Home loan\ Home equity loan from an
Institution/Bank.

Bharti AXA Life Credit Shield

Credit Shield is a Group Product that provides coverage to people who have
availed of a loan for 1 to 5 years from Group Policyholder.

Bharti AXA Life Life Shield

Life Shield is a single premium group term life insurance product.

 BHARTI AXA AIMS AT 5 PERCENT MARKET SHARE IN
LIFE INSURANCE

Bharti AXA plans on expanding its wings in the fast growing life insurance
market. It has forecasted a 5 percent market share holding by the end of 2012.
One of the primary reasons for this aggressive expansion strategy of the
company is the huge potential and largely untapped insurance market.

India is the fifth largest life insurance market in the emerging insurance
economies globally and is growing at 32-34% annually. This impressive
growth in the market has been driven by liberalization, with new player’s
significantly enhancing product awareness and promoting consumer education
and information.

Total life insurance premium in India is projected to grow Rs 1,230,000 Crore

by 2010-11. The current market is worth 50,000 crores. Bharti AXA Life
insurance, which is a joint venture company between India's leading
conglomerate, the Bharti Group and France-based financial protection and
wealth management service provider-AXA, has currently a modest share of 1
percent in the market.

Bharti-Axa’s key strategy is to leverage on the wide reach of Bharti Operations

by aligning with Bharti Airtel distribution points, corporate agents and brokers.
Bharti Axa has set-up virtual branches to distribute policies using the retail and
telecom outlets of the Bharti Group. Bharti-Axa envisions virtual branches as a
key strategy and has currently 25 percent revenues from the same.
Chief actuary at Bharti AXA GLN Sarma says. “Capital constraints have
prevented us from being overly aggressive. We would like to retain what we
have and consolidate our position.” The company is also not planning any big
advertising campaigns and instead, has chosen to communicate with customers
through phone calls, text messages and emails. Sarma agrees that product
distribution and building channels has been a problem for Bharti AXA because
the company does not have a parent bank to fall back on. “Also, many banks
have turned into insurance product manufacturers from mere insurance
distributors. This makes them our competitors ruling out the possibility of a
distribution deal with them,” he says.

However, despite the capital constraints, Bharti-Axa is all set to infuse another
100 Crore in the fourth quarter. Apart from this, the company is on an
aggressive hiring spree with its plans to beef up the sales force to 45,000 from
the present 30,000.

The current product portfolio of Bharti-Axa is that of eight life insurance

products. This includes six ULIP products. The company’s CFO, V Srinivasan,
commented that Bharti-Axa’s key strategy would be to focus strongly on ULIP
products.

More on current happenings in Business and marketing visit My Blog on the

latest trends in Marketing
 RESEARCH METHODOLOGY

PROBLEM FORMULATION
The problem is that there is rising competition between Bharti Axa and
other companies. Bharti Axa Insurance is also providing better services
inspite of that Bharti Axa Insurance is having a greater market share.

RESEARCH DESIGN
The present investigation is descriptive type of study undertaken to
estimate the product strategy of Bharti Axa. The present study identifies
views of customers & analysis of Bharti Axa.

SOURCE OF DATA COLLECTION:

A) PRIMARY DATA

B) SECONDARY DATA
DATA COLLECTION METHOD

PRIMARY DATA
The primary data to be selected was based upon the response of the
respondents to the questionnaire designed, the questionnaire was
developed for Primary Data Collection. The questionnaire consists of
closed ended questions.

A part of Questionnaire was targeted to know the personal details of the

respondents. Another part comprised of the questionnaire and will consist
of closed ended questions with every question having its own importance
and meaning.

SECONDARY DATA
The secondary data was collected by referring through web sites, and the
final data was analyzed systematically to achieve the desired result.

SAMPLE SIZE
For the purpose of analysis a sample size of respondents was selected.
The target group of the respondent was above years. The sample taken
was 50.
 LIMITATION OF THE STUDY

• The response of the consumer was negative no body was ready to

fill the forms.

• The study was conducted in Dehradun, for more accurate result this
study should simultaneously run in number of cities.

• Lack of time.
 DATA ANALYSIS AND INTERPRETATION

1. Out of the following, you have an insurance policy of?

INTERPRETATION

The above graph suggest that 60% people are insured with LIC, 2% people are
insured with Aviva, 8% are insured with HDFC Standard life Insurance, 10%
insured with ICICI prudential, 6% are insured with Bajaj Allianz, 12% are
insured with Bharti Axa and 4% have no policy.
2 Which Bharti Axa Scheme does you have?

No of Peoples Have BSLI Plan

Health,
10%

Retierment
Health
, 22%
Retierment
Life
Life, 68%

INTERPRETATION
On the basis of above analysis it has been concluded that around 68% of the
policy holders are having life plan, 22% of them are having Retirement plan
and rest of them are having the health plan.
3 Are you satisfied with the Insurance plan you have?

No. of people satisfied with the plan

28%
Yes
No
72%

INTERPRETATION

On the basis of the analysis it has been concluded that around 72%of the
people are satisfied with plan they and rest if them are not satisfied.
 4 Are you satisfied with the services provided by the company regarding new
plans and schemes?

N o. of people satisfied w ith the

services provided by the com pany

18%

Y es
No
82%

INTERPRETATION

On the basis of the above analysis it has been concluded that around 82% of

the policy holders are satisfied with the services provided by the company

and rest of them are not satisfied.

5 Are you interested to make more investments in Bharti Axa?

No. of Peoples want to more

investment in BSLI

33%

Yes
No

67%

INTERPRETATION

On the basis of the above analysis it has been concluded that around 67% of

the policyholders are interested to make more investments in Bharti Axa

and rest of them are not interested.

6. What do you look for, while opting for a life insurance policy?

45%
40%
40%
35%
30%
30% Inc om e S ec urity
25% 20% Tax S avings
20% O ld age benefits
15% S avings
10%
10%
5%
0%
Inc om e Tax S avings O ld age S avings
S ec urity benefits

INTERPRETATION
The above graph suggest that 40% people thinks about income security, 20%
looks for tax saving, 30% looks for old age benefits and 10% thinks about
savings.
7. At any point of policy period, have you ever claimed your policy?

90%
80%
80%
70%
60%
50% Yes
40% No
30%
20%
20%
10%
0%
Yes No

INTERPRETATION

The above graph suggest that 80% people have not claimed the policy and 20%
people have claimed their policy.
8. Do you think Insurance is superior to other forms of saving?

80%
70%
70%
60%
50%
Yes
40%
30% No
30%
20%

10%
0%
Yes No

INTERPRETATION

The above graph suggest that 70% people thinks Insurance is superior then
other forms of saving and 30% people thinks that insurance is not superior then
other forms of saving.
9. Have you ever insured with Bharti Axa Insurance?

100%
88%
90%
80%
70%
60%
Y es
50%
No
40%
30%
20% 12%
10%
0%
Y es No

INTERPRETATION

The above graph suggest that 88% people are not insured with Bharti Axa
insurance and 12% people are insured with Bharti Axa insurance corporation.
10. What is reason for insuring with Bharti Axa?

80% 67%
60% G o o d w ill o f t h e
33% c om pany
40%
G o o d re t u rn o n
20% in ve s t m e n t

0%
G o o d w ill o f thGeo o d re tu rn o n
c om pany in ve s t m e n t

INTERPRETATION

The above graph suggest that 67% people considered the good will of the
company and 33% people considered the good return on investment.
 CONCLUSION

1. The insurance holders are satisfied with Bharti Axa Insurance.

2. The customer said the Bharti Axa is more successful in long run.

3. The customers are not well known about Bharti Axa Insurance in
comparison to it competitor.
 RECOMMENDATIONS

The company is having second position in private insurance sector so its

main motive is to become number one insurance company the company
will reach to its motive by following measures-

• Company should increase its advertisement so the customers aware

about the company.

• To open the branch office of Bharti Axa Insurance to cover all the
customer.

• More schemes should offered by the company to customer.

• To provide best services to the customer.

 REFERENCES

Books:

• Kotler, Phillip, (2006), “Marketing Management”, 12th Edition,

Pearson Education, Singapore.
• Sharma, D.D., (1995), “Marketing Research”, 3rd Edition, Sultan
Chand & Sons, New Delhi.
• Kothari C.R. (1990), “Research Methodology”, Wishwa Prakashan,
PP. 72-83. Partner Chlorophyll Brand Communications

Websites:

• www.bhartiaxa.com
 QUESTIONNAIRE

Question-1: Out of the following, you have an insurance policy of (put tick
mark)
1) LIC [ ] 3) HDFC Standard Life [ ] 3) ICICI PRU [ ]
4) Bajaj Allianz [ ] 5) Bharti Axa [ ] 6) No Policy [ ]

Question2: Which Birla Sun Life Scheme does you have?

(a) Life (b) Retirement (c) Health

Question-3: Are you satisfied with the Insurance plan you have?
(a) Yes (b) No

Question-4: Are you satisfied with the services provided by the company
regarding new plans and schemes?
(a) Yes (b) No

Question-5: Are you interested to make more investments in Birla Sun Life ?
(a) Yes (b) No

Question-6: What do you look for, while opting for a life insurance policy?
1) Income security 2) Tax savings
3) Old age benefits 4) Savings

Question-7: At any point of policy period, have you ever claimed your
policy?
1) Yes 2) No
Question-8: Do you think Insurance is super is to other forms of
saving?
1) Yes 2) No

Question-9: Have you ever insured with Bharti Axa Insurance?

1) Yes 2) No

Question-10: What is reason for insuring with Bharti Axa?

1) Goodwill of the company 2) Good return on investment