ISMS SANKALP BUSINESS SCHOOL

A Project Report On Internship in

”SHRIRAM LIFE INSURANCE”

Report submitted in Partial Fulfillment of the Requirement of

Post Graduate Program –MBA

SESSION ( 2020 – 2022 )

Submitted By - Submitted To -

AYUSH GAUR Prof. PRINCE FRANCIS

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 ACKNOWLEDGEMENT

It’s a privilege to be associated with Shriram Life Insurance, one of the most respected and
dominant life insurance sector. This acknowledgement is not only the means of formality, but
to me, it is a way by which I am getting the opportunity to show the deep sense of
appreciation and commitment to every one of the general population who have given me
motivation, direction and help during the planning of the project
At the very outset, I would like to express my gratitude from bottom of my heart to M/s.
IPSITA TAMBAT for giving me the opportunity to do my Internship Project in this esteemed
organization.
I want to thanks my Placement head Mr Prince Francis for supporting me to complete my
internship project. Their guidance and co-operation helped me to get a better understanding
of the tasks performed at the organization.

AYUSH GAUR

Session: 2020 - 2022

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 Executive Summary

Human life is a most important asset and life insurance is the most important type of insurance
which provides financial protection to a person and his family at the time of uncertain risks or
damage. Life insurance provides both safety and protection to individuals and also encourages
savings among people. Shriram Life Insurance plays a vital role in the welfare of human well-
being by providing insurance to millions of people against life risks such as uncertain death or
accident. The present exploratory and descriptive based study was selected with an objective to
examines the various factors that affect the consumer perception towards life insurance policy
and also analyze the preferences of customers while life policy investment decision-making.
Various insurance related factors have been discussed in the paper. The data for the study has
been collected from primary sources. The study area is limited to the persons I know and sample
size is 50 respondents. The statistical technique used for the analysis is simple percentage
analysis. The main finding of the study reflected that there are four factors i.e. premium, returns,
goodwill of the company and duration of the policy that influence the consumer perception
towards life insurance policy. Insurance companies should spread more awareness about life
insurance, reduction in premium amount and giving more attention on need based innovative
products are some of the suggestions provided by the researcher. The paper concludes with that
earlier Insurance was a means for wealth creation and that too for a longer period as returns were
comparatively low but as compared with the data in the current part it can be said that people are
shifting towards Insurance sector not only for tax saving but for future planning, life covering
risk against security, etc.

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TABLE OF CONTENTS:

Sr. No. PARTICULARS Pg. No

i  Acknowledgement 3

ii Executive Summary 4

Chap-1 Introduction to the Study 6 - 23

Chap-2 Industry Profile  24 - 36

Chap-3 Finding, Suggestion and Conclusion 37 - 39

Chap-4 Annexure 40 - 42

Chap-5 Bibliography 43

Chapter No. 1 - Introduction to the Study

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1.1. Introduction
Customer perception plays a vital role in a company’s ability to attract new customers and to
retain existing customers. The good news is that companies have the ability to control many of
the factors that build an individual’s perception of the company/brand.

Customer perception - The formal definition of customer perception is, “A marketing concept
that encompasses a customer’s impression, awareness and/or consciousness about a company or
its offerings.”To put it simply, customer perception is what your customers and potential
customers think of your organization. This perception directly impacts the attraction of new
customers and the capacity to maintain good relationships with current customers.study of
consumer behaviour provides market ersto understand and predict the future market behaviour.

Consumer behaviour studies the behaviour of individual or a group of people. The companies,
function of insurance company, various factors influencing consumer behaviour, factors
influencing buying decision and model of consumer decisions making process have been
considered. Also, the types of insurance policy taken by consumer, the total sum assured of life
insurance, the total sum assured of life insurance for the spouse, the share of public
insurance in insurance sector, share of LIC in life insurance in insurance sector and the
reasons for invested in life insurance have been studied. The survey was conducted
across 334 cities/towns in all the states and union territories. A sample of 1947 individuals has
been selected by setting questionnaire. The online response system has selfchecking and
its validation system vetted the quality and veracity of the responses.Indicus Analytics
then cross-checked andinputs with its databases on investors and their habits. The
majorities of the respondents were from the top five metros and 10 major cities and had
at least 30 participants. The profile of the target respondents is typically matched.
The target respondents are well educated, familiar with English, spread over major urban
centershaving a higher socioeconomic and income profile and spread across a range of
occupations, professions and different age groups.

Investor’s perception-An investor perception is a leading provider of authoritative and

considered investor feedback. IP delivers an independent perspective into how shareholders and
the key underweight institution view a company, its management and its prospects. We analyze
in depth the key factors that collectively define a company’s investment proposition and
ultimately determine the valuation the market places on the shares. An insightful perception
study is an important and powerful management tool, both from a strategic planning and a
corporate governance perspective. Being aware of the opinions and views of investors assists
companies to improve their communication with the market and to ensure the investment
proposition is properly understood and is reflected in the valuation of the shares, whichin turn
will influence its cost of capital.

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Consumer behaviour-Consumer behavior is the study of how individual customers, groups or
organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and
wants. It refers to the actions of the consumers in the marketplace and the underlying motives for
those actions. Consumer behavior is very important to understand what influences the buying
decisions of the consumers and why does it so.
By understanding how consumers decide on a product it is possible for marketers to fill in the
gap and identify which product is needed and which products are obsolete in the market. It also
helps marketers decide how to present their products such that they have maximum impact on
consumers

1.2. Research Problem

In this life inurance company the anwers of the questions ,I was searching were

1. How the insurance companies attract their customers to buy insurance.

2. What are their promotional tactics.
3. How they convince their customers on phone and by personally meeting for making a
sale.
4. How the life insurance works for people of different age groups, income groups or
different proffesions.

1.3. Statement of Research Problem

The shriram life insurance performs various promotional activities to increase their customer
base. They make leads by online as well as offline mode. So this study helped me to know about
the answers which I was searching for my research problem questions and also helped me in
knowing more about the life insurance sector by making me work as an agent for giving leads to
them for their company.

1.4. Objectives of the Study

 To know the reach of Shriram life insurance product among people.

 To know the benefits of being the policy holders of SLIC.
 To study about customer’s preference regarding life insurance companies.
 To examines the various factors that affect the consumer perception towards life
insurance policy.
 To know how the slic agents convince their customers for making sale
 To learn about various policies and their benefits .
 To gain a practical experience in marketing and sales field.

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1.5. Hypothesis of the Study

The marketing and selling of life insurance policies comes under null hypothesis because there is
no exact relationship between the efforts in making promotional activities or engaging with
customers with virtually or physically with the upcoming sales sometimes it can be made but
sometimes it can have negative impacts.

1.6. Scope of the Study

A) Geographical Scope

The scope of study is limited to only that areas in which my friends ,family members or the
persons I know live.

B) Conceptual Scope

In this scope of study comes under the marketing and sales department.

C) Analytical Scope

It includes the various activities which are carried out to entice the customers to buy the policies
and this helped in convincing the customers to feel the need of the policy.

1.7. Importance of the Study

This study helps to understand the importance of promotional activities on overall sales of life
insurance policies .the study also helped to understand certain factors like

1. Convincing the customers for a policy

2. Creating the polic need for them
3. How to create a pitch in front of the customer
4. Understanding various policies.

1.8. Research methodology

The research methodology is the systematic, theoretical analysis of the procedures applied to a
field of study (Kothari, 2004). It involves procedures of describing, explaining and predicting

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phenomena so as to solve a problem; it is the 'hows'; the process or techniques of conducting
research. A Methodology does not set out to provide solutions but offers the theoretical
underpinning for understanding which procedure, set of procedures can be applied to a specific
case.
Research methodology encompasses concepts such as research designs, target population,
sample size and sampling procedure, data collection instruments and data analysis procedure.

1.8.1 Type of Research Design

The research design refers to the overall strategy that one may choose to integrate the different
components of the study in a coherent and logical way.
A research design is the determination and statement of the general research approach or strategy
adopted for the particular project. It is the heart of the planning. If the design adheres to the
research objectives, it will ensure that the client need will be served.
Research design is a plan structured and strategies of investigation. It is the arrangement of
condition and analysis of data in a manner to combine relevance to the research purpose with
economy in procedure.
 In order to achieve the objective it was necessary to talk to the customers and public to
draw the conclusion regarding the objective
 For visiting and contacting the customers and publics to collect the relevant information
aquesttionaire has to be designed. The questionnaire was designed in such a mannner to
achieve the objectiveof the research
 The sample size is taken is 50 people of which we are known.

Type of research- Descriptive Research

In this project Descriptive Research has been used. This is kind of research structure which is
concerned with describing the characteristics of the problem. In this way the main purpose of
such a research design is to present a descriptive picture about the marketing problem on the
basis of actual facts. For this it is important to obtain the complete and actual information about
the subjects. 
In Descriptive Research Design, the researcher explains the situation or case in depth in their
research materials. This type of research design is purely on a theoretical basis where the
individual collects data, analyses, prepares and then presents it in an understandable manner. It is
the most generalised form of research design. 

1.8.2 Data Required- Primary and Secondary Data

PRIMARY DATA:

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The data which is collected fresh and for the first time and thus happen to be the original one
characteristic is called as the primary data.
SECONDARY DATA
The data which is already collected by someone else and which have been passed through the
statistical process is known as the secondary data.

1.8.3 Data Source- Primary and Secondary Data

The task of data collection begins after a research problem has been defined. In this study
Data was collected through primary data source.
Primary Data: These are the data which are collected from some primary sources i.e., a
Source of origin where the data generate. These are collected for the first time by an
Investigator or an agency for any statistical analysis.
Primary data is used to find the answers of the objectives. The task of data collection begins
After a research problem has been defined and research design/plan chalked out. In this
Particular study primary data has been collected from 50 respondents while keeping in mind
The objectives of the study. The primary data was collected through a self administered
Questionnaire that contained questions relating to the objectives of the study. The
Questionnaire contains certain question regarding awareness level and the attributes that
Consumer consider while buying a life insurance policy.

1.8.4 Instruments- Questionnaire

Questionnaire for survey

Q1. Name

Q2. Gender

o MALE
o FEMALE

Q3. What is your occupation.

o Business
o Service
o Retired
o Any other

Q4. Do you have life insurance.

o Yes
o No

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Q5. If yes, then what is your reason for getting life insurance

o Reduced risk for dependents

o Reduced personnel risk from incurable illness.
o It’s a good investment
o It’s a standard practise
o Any other

Q6. If no,then why you are not interested in buying life insurance

o Complicated
o Expensive
o Not beneficial
o Not transparent
o Any other

Q7. Which company’s insurance you prefer the most

o Lic
o Icici prudential
o Realiance life insurance
o Sbi life insurance
o Shriram life insurance
o Tata aig life insurance
o Any other

Q8. How would you like to obtain information on a life insurance product

o Online brochures/websites
o Mail
o Speak to am agent/advisor in person
o Over the phone
o Any other

Q9. How you would like to buy life insurance

o Internet
o Online chat with an advisor
o Over the phone
o Advisor at the branch
o Any other

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Q10. What do you think are the benefits of insurance cover

o Cover future uncertainity

o Tax deduction
o Future investment
o Any other

Q11. Which feature of your policy attracted you to buy it

o Low premium
o High risk coverance
o Money back guarantee
o Reputation of the company
o Agents conviction
o Any other

Q12. Do you think life insurance policy is anecessity in todays scenario

o Very essential
o Essential
o Partially
o Not required

Q13. What is the right age to buy life insurance

o After 18
o After 25
o After 35
o After 45
o Anytime

Q14. What will you look for in insurance companies

o A trusted name
o Friendly service and responsiveness
o Good plans
o Accessibility
o Any other

Q15. Are you satisfied with the service provided by insurance agents

o Very satisfied
o Satisfied

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 o Neutral
o Not satisfied
o Very dissatisfied

1.8.5 Sampling

SAMPLING TECHNIQUE:
Convenience sampling method is used to collect the data. It is the part of non-probability
Sampling techniques. This method is commonly used in survey research as it id quick and easy
to deliver results.
Here the samples are selected based on their availability.this method is used when the
availability of sample is rare and also costly.so based on that convenience sampling is selected. It
is use to collect the data from the people.

SAMPLE DESIGN
The target population of the study consists of various respondents of various places. This
Survey was done by collecting the data from the respondents.
SAMPLE SIZE
After due consultation with the company supervisor as well as with the college guide, also
Keeping in mind the requirements of the company for the research, the sample size that was
Found to be appropriate for the study was 50.
STATISTICAL TOOL
Simple percentage analysis is the main statistical tool used for the study.

Simple percentage analysis:

Percentage refers to a special king of ratio in making comparison between two or more data
And to describe relationships. Percentage can also be used to compare the relation terms
Between two or more sources of data.
Percentage of respondents = Number of respondents / Total respondents

1.8.6 Data Analysis

Data collection
The data was collected through a structured questionnaire.50 questionnaires distributed
Among knowned people and received back 50 questionnaires which were properly filled. 50
Questionnaires is fairly attempted with 100% response.

DATA ANALYSIS
Data analysis focused on the following major aspects:

• To know about the people insured through which insurance company.

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• To learn about the reason of insure by taking life insurance.

• To know about the factors affected to choose a life insurance policy.

• Awareness of insurance as a platform for investment among people.

• To know the reach of Shriram Life Insurance products among people.

Data analysis based on 50 questionnaire prepared for study with the table presentation and
pie chart

Q2. Gender

Particulars Frequency
MALE 42
FEMALE 8

Frequency
MALE FEMALE

16%

84%

Q3. What is your occupation.

Particulars Frequency
Business 30
Service 20
Retired 0
Any other 0

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 Frequency

Business
20 Service
Retired
Any other

30

Q4. Do you have life insurance.

Particulars Frequency
Yes 41
No 9

Expensive; 9

Complicated; 17

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Q5. If yes, then what is your reason for getting life insurance

Particulars Frequency
Reduced risk for dependents 19
Reduced personnel risk from incurable illness 11
It’s a good investment 11
It’s a standard practise 3
Any other 6

Frequency

12% Reduced risk for de-

pendents
6% Reduced personnel risk
38% from incurable illness
It’s a good investment
It’s a standard practise
Any other
22%

22%

Q6. If no,then why you are not interested in buying life insurance

Particulars Frequency
Complicated 17
Expensive 9
Not beneficial 0
Not transparent 3
Any other 21

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 Frequency

Complicated
34%
Expensive
42% Not beneficial
Not transparent
Any other

18%
6%

Q7. Which company’s insurance you prefer the most

Particulars Frequency
Lic 34
Icici prudential 1
Realiance life insurance 0
Sbi life insurance 5
Shriram life insurance 2
Tata aig life insurance 1
Any other 7

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 Frequency
14%
2% Lic
Icici prudential
4% Realiance life insurance
Sbi life insurance
Shriram life insurance
10%
Tata aig life insurance
Any other
2% 68%

Q8. How would you like to obtain information on a life insurance product

Particulars Frequency
Online brochures/websites 11
Mail 2
Speak to an agent/advisor in person 33
Over the phone 4

Frequency

8%
22% Online brochures/websites
Mail
Speak to an agent/advisor
in person
4% Over the phone

66%

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Q9. How you would like to buy life insurance

Particulars Frequency
Internet 8
Online chat with an advisor 5
Over the phone 2
Advisor at the branch 32
Any other 3

Frequency

6%
16% Internet
Online chat with an ad-
visor
10% Over the phone
Advisor at the branch
Any other
4%

64%

Q10. What do you think are the benefits of insurance cover

Particulars Frequency
Cover future uncertainity 36
Tax deduction 8
Future investment 6
Any other 0

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 Frequency

12%

Cover future uncertainity

Tax deduction
16% Future investment
Any other

72%

Q11. Which feature of your policy attracted you to buy it

Particulars Frequency
Low premium 12
High risk coverance 17
Money back guarantee 12
Reputation of the company 8
Agents conviction 0
Any other 1

Frequency
2%

16% Low premium

24% High risk coverance
Money back guarantee
Reputation of the company
Agents conviction
Any other
24%

34%

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Q12. Do you think life insurance policy is anecessity in todays scenario

Particulars Frequency
Very essential 39
Essential 10
Partially 1
Not required 0

Frequency
2%

20% Very essential

Essential
Partially
Not required

78%

Q13. What is the right age to buy life insurance

Particulars Frequency
After 18 16
After 25 14
After 35 2
After 45 0
Anytime 18

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 Frequency

After 18
32%
36% After 25
After 35
After 45
Anytime

4%
28%

Q14. What will you look for in insurance companies

Particulars Frequency
A trusted name 26
Friendly service and responsiveness 11
Good plans 12
Accessibility 1
Any other 0

Frequency
2%

A trusted name
24% Friendly service and
responsiveness
Good plans
Accessibility
52% Any other

22%

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Q15. Are you satisfied with the service provided by insurance agents

Particulars Frequency
Very satisfied 12
Satisfied 23
Neutral 14
Not satisfied 0
Very dissatisfied 0

Frequency
2%

A trusted name
Friendly service and
24% responsiveness
Good plans
Accessibility
Any other
52%

22%

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2.0 Chapter No. 2 - Organizational Profile
2.1 Introduction

Insurance Industry;
Insurance in India was started in the year of 1956, when Life Insurance Corporation came into
place. Post liberalization, the insurance industry in India has recorded significant growth. The
Indian insurance industry is expected to grow to INR 8 trillion by FY2024, owing to the solid
economic growth and higher personal disposable incomes in the country. Premium income of the
life insurance segment had increased 14.04% in FY17 to RS4.18 trillion (US$ 64.92 billion). The
total insurance market expanded from US$ 84.72 billion in FY17 to US$ 280 billion. There are
24 life insurance and 33 non-life insurance companies in the Indian market who compete on
price and services to attract customers. There are more than six reinsurance companies. The
industry has been spurred by product innovation, vibrant distribution channels, coupled with
targeted publicity and promotional campaigns by the insurers. Private sector companies hold
48.03% market share in the general insurance segment and 33.78% market share in the life
insurance segment.

We call our country as an “Advantage India” in the insurance sector because of these
Four reasons:

Demand:
1. Growing interest in insurance among people due to increase in the knowledge; innovative
products and distribution channels aiding growth.
2. Increasing demand for insurance off-shoring.
3. Growing use of internet has started increasing the demand.

Attractive opportunities:
1. Life insurance in low-income urban areas
2. Health insurance, pension segment
3. Strong growth potential for micro insurance, especially rural areas

Increasing investments:
1. Insurance sector companies in India have raised around Rs. 434.3 billion through public
Issues in 2017
2. Increase in FDI limit to 49% from 26% approved in 2016

Policy Support:
1. Tax incentives on insurance products
2. Passing of Insurance bills gives IRDA flexibility to frame regulation
3. Repeated attempts to make the sector more lucrative for foreign participants

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2.2 History

The history of insurance is probably as old as the story of mankind. In India, insurance has a
deep-rooted history. It finds mention in the writings of Manu (Manusmrithi), Yagnavalkya
(Dharmasastra) and Kautilya (Arthasastra). The writings talk in terms of pooling of resources
that could be re-distributed in times of calamities such as fire, floods, epidemics and famine.
This was probably a pre-cursor to modern day insurance. The same instinct that prompts modern
business-persons to-day to secure themselves against loss and disaster existed in primitive men
also. They too sought to avert the evil consequences of fire and flood and loss of life and were
willing to make some sort of sacrifice in order to achieve security.
In the year 1818, the modern Life Insurance came to India from England. Oriental Life
Insurance Company started by Anita Bhavsar in Kolkata (Calcutta) to cater to the needs of
European community, was introduced as first life insurance company on the land of India. All of
the insurance companies which were in force at that time were working for the needs of
European Community, and were proving the insurance facilities to those companies. Indian
companies were not insured by the insurance company. Foreign insurance companies started
insuring the lives of Indian people. But the Indian lives were not given importance as compare
to the Europeans. Heavy amount was charged as premium from the Indian people.
In the year 1870, Bombay Mutual Life Assurance Society was established as first Indian life
insurance company and covered the lives of the Indian people at normal rates. Insurance
companies started working as an Indian organization with heavy patriotic objectives. Insurance
companies started working for the social welfare, security and to provide security to the lives of
Indian people. The insurance companies were willing to cover the Indian lives from risk. The
United India in Madras, National Indian and National Insurance in Calcutta were established in
1906. In the year 1907, Hindustan Co-operative Insurance Company was formed in Calcutta.
Before 1912, No regulation was there in India to regulate the insurance business. The Life
Insurance Companies Act was passed in the year 1902. It was become essential that the
insurance premium tables and periodical valuation of insurance companies should be certified
by an actuary, by the Life Insurance Companies Act 1912. The Indian insurance companies was
put at a disadvantage by discriminated between Indian and foreign companies on many accounts
in Life Insurance Companies Act 1912. A lot of growth was seen in the insurance business in
twentieth century.
In 19th Jan. 1956 the life insurance was nationalized. At the time of nationalization the whole
life insurance industry was organized by 245 units. In 245 units, 154 were Indian insurance
companies, non-Indian companies were 16 and 75 were provident funds. The process of
nationalization was completed in two stages. In the first stage, by mean of an ordinance, the
management of the insurance companies operating in India was taken over. In the second stage,
by means of a comprehensive bill, the ownership of the insurance companies operating in India
was also taken over. On 19th June 1956, Life Insurance Act was passed by the parliament of
India, with the objective to spread the awareness about insurance widely specially in the rural
areas with a view to cover all insurable people in India, the Life Insurance Corporation of India

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was established on 1st September 1956. The aim of establishing Life Insurance Corporation of
India was to provide insurance and security cover to the people of India on a reasonable
premium. In the year 1956, apart from the corporate offices, Life Insurance Corporation of India
had 5 zonal offices with 33 divisional offices and 212 branch offices in India.
In the early 1990’s, it was felt that the insurance industry needs to be reformed in order to
provide better coverage to the customers and to increase inflow of long term financial resources
to finance the enhancement of infrastructure. In 1993, Malhotra Committee headed by former
Finance Secretary and RBI Governor Mr. R.N. Malhotra was formed to reform Indian Insurance
Industry and recommended its future direction. The Committee felt the need to provide greater
autonomy to insurance companies in order to improve their performance and allow them to act
as independent companies with economic motives. For this purpose, it had proposed setting up
of 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‟s incorporation as a statutory body in April 2000, has
fastidiously stuck toils schedule of framing regulation and registering private sector insurance
companies.

2.3 Profile of Organization

Shriram Group:
The 76,000 Cr Shriram Group had its humble beginnings in the Chit Fund business over three
decades ago in Chennai. Mr. R. Thyagarajan, Mr. A.V.S. Raja and Mr. T. Jayaraman were the
“three musketeers” who ventured into the business. Not many in the financial services industry
thought at the time that this small Chit Fund business in Chennai would become the foundation
for the financial conglomerate that Shriram is today.
Shriram Group’s businesses strive to serve the largest number of common people through its
pioneering and customized financial services. For more than 3 decades the tireless efforts for
facilitating financial access to small and medium entrepreneurs through loans and chits has
carved a niche for the Shriram Group in South India. The Founder Chairman has been awarded
the reputed title of “Padmabhushan” in the year 2013. The group actively serves more than one
crore customer across PAN India with strong prominence in the southern part of the country.
The subsidiaries of the Shriram Group are listed as: Shriram Capital Limited and Shriram
Venture Limited.

Shriram Capital Ltd.

Shriram Capital Limited (SCL) is the overarching holding company for the Financial Services
and Insurance entities of the Shriram Group. Shriram Capital was created with the primary
objective of optimizing synergies across Group companies, apart from playing a significant role
in the Risk Management and Leadership development of these entities.

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SCL is the main promoter of the two high-growth listed companies of Shriram Group, namely
Shriram Transport Finance Company Ltd, the largest asset financing company in India, and
Shriram City Union Finance Ltd, a leader in Retail Finance across a wide range of products.
SCL is also the promoter of Shriram Life Insurance Company Ltd, and more recently, Shriram
General Insurance Ltd, Shriram Fortune Solutions, Shriram Insight Share Brokers and Shriram
Wealth Management. SCL’s main role is to promote these companies, induct and strengthen
leadership teams, provide strategic inputs and direction to help and nurture them to grow into
large and profitable enterprises. On a consolidated basis, SCL has an overall customer base of
7.5 million, 35,000 employees across 2,800 offices, with Assets under Management (AUM) of
around US$ 11 billion.

Shriram Venture Ltd.

Shriram Venture Limited operates as a holding company which provides services in non
Financial businesses including power, infrastructure, construction, and real estate sectors.

Years to remember:
1974-Shriram Capital Limited was set up in 1974. The company offers a wide range of
financial services from insurance, commercial vehicle finance, consumer and enterprise finance,
to wealth advisory services, along with domestic and overseas investment solutions. It has
strategic partnerships with Sanlam and Sanlam. Headquartered in Chennai, it has 3000 offices,
over 60,000 employees, and a customer base of 12 million.

1974-Shriram Chits began operations in 1974 with a single branch and has since then grown
into a trusted household name, making Chits a viable form of saving and borrowing for all
segments of society. With a network of 465 branches spread across Tamil Nadu, Andhra
Pradesh, Karnataka and Maharashtra; Shriram Chits employs close to 5000 people. The
company has successfully built a reputation for timely disbursement and excellent customer
service.

1979-Shriram Transport Finance Company was founded in 1979 with the aim to finance the
much-overlooked Small Truck Owner. It is registered as a ‘Deposit-Taking NBFC’ with the
Reserve Bank of India under section 45IA of the RBI Act,1934. The Shriram Group had the
foresight to base their marketing based on aspiration, much before the concept became a well-
known one.

1986-Shriram City established in 1986 is India’s premier financial services company

specializing in retail finance. Its Consumer Finance business unit was set up in 2002 to cater to
chit fund customer needs. The company offers a comprehensive range of products making it a
dominant player. With over 1000 business outlets country-wide, it is listed on the BSE, NSE,
Madras Stock Exchanges and enjoys a high credit rating.
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2005-Shriram Life Insurance commenced operations in 2006. Synonymous for its efficient use
of capital and low operational costs, SLIC has been true to the Group‘s philosophy of financial
inclusion. A joint venture between Sanlam and Shriram Group, SLIC’s aim is to offer life
insurance plans and solutions that cater to a wider demographic. It has a network of 630 offices
and 75,000 agents across India.

2006-Established in 2006, Shriram Financial Services Limited is a premier financial

distribution company that offers a plethora of financial planning solutions, primarily through
Mutual Funds, Life Insurance, General Insurance and Deposits. They are championed by the
expertise of 53,863 loyal Business Associates and 1146 employees, with a direct presence of 72
plus branches and an indirect presence in 289 locations.

2009-Identifying the opportunities coupled with India’s flourishing consumer markets, Shriram
Group made a foray into General Insurance. SGI’s focus on addressing customer needs,
nurturing talent and developing a home-grown technology platform for the underserved
segments of the economy has ensured the group’s sustainable growth for over three decades.
SGI received the Excellence in Growth Award in 2011 and 2012.

2011-Set up with the aim to provide financial assistance to prospective homeowners who remain
underserved, SHFL commenced operations in December 2011. Keeping in line with their core
philosophy of Finding Ways to Funding Homes; the company has developed several innovative
mortgage products.

Philosophies of Shriram Group

The Shriram Group is driven by, and is well known for its philosophies which have been
impacted by Mr. Thyagarajan. These philosophies and values have been methodically instilled
and institutionalized into the Shriram group over the last 3 decades.

Serving the underserved thereby creating wealth in the community:

Mr. R. Thyagarajan has exceptional commitment in serving the underserved category of
customers (referred to as “aam-admi”), as this segment of customers are usually neglected by
the organized financial sector. These segments of customers have become the target market for
all Shriram Group companies in the financial services space.

Mr. Thyagarajan’s philosophy is that the group should only run enterprises which add value to
the community. Thyagarajan once said “Unless we have a useful role for the community and
customer, we will not enter the business. The businesses we enter must meet the needs of the
underserved sections of the economy”. For example, he felt that commercial vehicle buyers
should have been given a fair chance of survival and not be burdened with high interest rates. He
understood that they would be able to repay loans and it was just a matter of time. Hence he
28
realised that because these segment of customer were neglected by other financial institutions,
someone had to extend credit to them at reasonable rates.

This is how Shriram Transport came into business, with focus on the owner operators (be it new
or used vehicles). This segment has always been perceived as a high risk segment to cater too.
Today, Shriram Transport has grown to an AUM in excess of Rs 40,000 crore, PAT in excess of
Rs 1,200 crore, Market Capitalization in excess of Rs 13,000 crore, and a customer base of 8,
00,000. In similar vain, one of the other nbfcs of Shriram (Shriram City Union Finance) has over
the last 10 years focused on SME’s (small medium enterprises- an underserved segment), and
has today grown to become a company with AUM in excess of Rs 13,000 crore, PAT in excess
of Rs 350 crores, and a customer base of more than 3.7 million, re-enforcing RT’s philosophy of
“serving the underserved”.

Most of Shriram employees work in branches from the town they belong to. This allows the
employee to contribute back to the economy of the town to which they belong, and create higher
standards of living. In addition to this, as the employee is from the same background of the
customer, they are able to understand the customer well and build long lasting relations. This is
a prime reason due to which most employees are recruited in nearby branches to where they
live.Customer centric Community led approach was fostered as a core philosophy of the group.

People first:
The Shriram’s group philosophy of putting “People first” is an integral part of the organisation
and is so well embedded in its cultural ethos that employee attrition rates are under 10% and all
the Chief Executives and senior management are home grown talent having been in the group
for 20 plus years. RT, along with the leaders he nurtured painstakingly over the years, not only
laid a sound foundation but also built an edifice of a business model that is driven by one single
philosophy – Creating a positive difference to the lives and businesses of the Group’s customers.
Today, the group has churned out leaders consistently from its own erstwhile branch managers
and field staff. Rather than identifying businesses to be in, Mr. Thyagarajan has instead focused
on creating management teams that can build businesses- a very unique approach. Mr.
Thyagarajan has always given his employees utmost importance and made sure this has
transformed to a value for the group and all its leaders. He has formed a beneficiary trust in the
group so that all management leaders of the group are beneficiaries of the wealth created by the
group. His philosophy is that if there is any value created in the group, it should belong to the
entire company and the employees who have helped in creating this wealth. This is unique in the
corporate world in India given the large number of family owned businesses.

Empowerment:
Empowerment and freedom of operation have been deployed effectively across the Group,
resulting in an environment that is conducive to nurturing talent and allowing the exceptional
performance to blossom. This philosophy of the group has, over the years, created a win-win
29
situation for the group and its employees and continues to add unique value to the Group. Mr.
Thyagarajan has always encouraged those who have an entrepreneurial spirit as he has always
supported those who believe in starting a new business. This has allowed the managers to create
a business by being fully empowered, with the commitment of the group.

Investor relations:
Transparency levels are high in the group which has over the years increased investor comfort
and trust. Mr. Thyagarajan has always ensured that the group focuses not only on providing a
onetime transaction with its partners & investors, but on building a relation with them in the
long run. The group has high levels of transparency, unique values and philosophies and gives
importance to investor relations while offering high returns. Mr. Thyagarajan has managed to
attract 90 year old South African Insurance giant, Sanlam Group, to partner with both the Life
and General insurance businesses of the group. Both these companies have managed to make
profits in the last few years, unlike other insurance players in the country. Mr. Thyagarajan has
often stated “Our Company is not based on transactions, but on relations with our financial and
strategic partners”. The group has more than 20 Private Equity investors who all have significant
shares in group companies.

Frugal management:
Mr. Thyagarajan is a role model to many. He leads by exception in a relatively simple life, and
has transformed this to a philosophy of the group. Shriram Group doesn’t pay fancy salaries to
its employees, does not spend extravagantly, and tries to always optimize costs. Mr.
Thyagarajan believes that empowerment and freedom retain people within the group rather than
large salaries. This philosophy has been inculcated by the employees of the group so well, that
they have used the same philosophy to build simple offices and branches, as opposed to
spending extravagantly on the looks of offices and branches. All the operating companies of the
group have some of the best Cost/Income ratios within their respective industries.

Vision of Shriram Group:

Mr. Thyagarajan’s vision for Shriram Group is to use the existing customer base and branch
network of the group to grow into the SME (underserved) and Insurance business, and
eventually become a large financial conglomerate serving the underserved through a diversified
range of financial products and services.
This is one of the key reasons why Shriram has started focusing on financing of small
enterprises (SME’s) as there is a need to fund SME’s in the country. With the existing network
of Chits, this has proven to be a good move. The existing network of the group has always been
useful for starting new ventures. The same was in the case of the Insurance business- The entry
into Insurance was smooth due to the groups existing customers in truck financing. Inclusive
growth has always been a driving force for the group because of its commitment, and it will
continue to be, as the group grows and expands to new businesses and verticals. The services of

30
RT in the neglected sectors of the society will help shape the group in good stand in its ambition
to contribute to the Indian growth story in the years to come.

About Founder Chairman:

Mr. R Thyagarajan (Popularly known as RT) holds a Masters in Mathematics and a Masters in
Mathematical Statistics (I.S.I).He is an associate at Chartered Insurance Institute (A.C.I,
London), and is a visiting faculty at the Asian Institute of Insurance, Philippines. Prior to the
humble beginnings of Shriram Chits, Mr. R Thyagarajan worked with New India Assurance,
from where he was strongly influenced by the then director, Mr. BK Shah. A lot of the values
and philosophies which RT has bought to the Shriram Group are taken from what he learnt
during his stint with New India Assurance and his own personal commitment to the cause of the
underserved. Mr. R Thyagarajan is founder of the Rs 60,000 crore Shriram Group, headquartered
in Chennai. Founded in 1974 to cater to the needs of the under banked segment, the group has
today grown to become India’s premier financial services network chain.
Over the last ten years, Shriram Group has grown at an enviable rate, with a CAGR of over
40%. The group has over 2400 branches, more than 45,000 employees, Net profit in excess of
Rs 15 billion and a strong customer base of 9.5 million. The group plans to expand its
businesses into non-financial services in the near future.

Shriram Life Insurance:

Shriram Life Insurance was incorporated in 2005 and it commenced business in 2006. Since the
first year of operations, the company made profits in the first three consecutive years becoming
the only private life insurer to have achieved the distinction. Compared to industry peers after 7
years of operation, Shriram Life insurance was the most profitable life insurance company in the
country. The company's performance stands out in efficient use of capital and low cost of
operations.
Life insurance arm of Shriram Group has carried forward the group philosophy of financial
inclusion by penetrating the unexplored segments. Shriram Life has significantly focused on
Inclusive growth by taking life insurance to the section where it is needed the most -The 'AAM
AADMI' (Common Man). Sanlam, the second largest insurer in South Africa and Shriram's
Insurance partner, is working closely with the group to take the Insurance Businesses to the next
level in the coming years.

Vision of Shriram Life Insurance:

The Shriram Life Insurance Company is set out with the objective of reaching out to the
"common man" with a host of products and services that would be helpful to him in his path to
"prosperity". Efficiency in operations, integrity and a strong focus on catering to the needs of the
common man, by offering him high quality and cost-effective products and services, are the
values driving the organization. These core values are deep-rooted within the organization and
have been strongly adhered to over the decades. The company prides itself on its perfect
understanding of the customer. Each product or service is tailor-made to perfectly suit the needs
31
of the customer. It is this guiding philosophy of putting people first that has brought the Group
Company closer to the grassroots and has made it the preferred choice for all the truck financing
requirements amongst the customers.

CEO of Shriram Life Insurance:

Mr. Kromhout CEO of Shriram Life Insurance. With over 25 years of experience, Mr. Casparus
Kromhout is currently the Managing Director and CEO of Shriram Life Insurance, a position
which he has held since December 2015. Having begun his career in South Africa in 1991, he
worked as an Industrial Engineer with Iscor Mining (Kumba) where he focused on optimization
projects and business cases for new mine development.
He joined the Life Insurance industry with the opportunity to be part of the large strategic
program to re-engineer some of Sanlam’s processes and policy administration systems. He
worked as a Business Consultant and Project Manager with both Sanlam and Old Mutual,
delivering multiple strategic projects. He later focused on project portfolio value management
which includes value tree work, concept development, business case governance and benefit
realization. Early 2010 Sanlam requested Mr. Kromhout to take the COO assignment with
Shriram Life Insurance in Hyderabad; where he has been supporting and building the
organizational capabilities of this company, which is very successful in profitably reaching out
to a very tough market segment where the loss of a breadwinner can have disastrous financial
impacts on the family.
Based on his understanding of the insurance business of a matured life insurer like Sanlam and
the hands on experience in nurturing and developing the operations functions of Shriram Life
Insurance Co Ltd (SLIC), he was the right choice for the position of the CEO. Apart from being
a wonderful human being, his main strengths lie in ability to think ahead. He never shies away
from taking on new and innovative ideas; and executes them in a practical and planned way. As a
CEO Mr. Kromhout has been instrumental in developing and executing strategy and is leading
the drive towards further innovation, the use of digital technologies and strategic ecosystem
partnerships to expand the reach and business growth of SLIC.

Partners of Shriram Life Insurance:

Sanlam Group
Mr. Johan van Zyl, Chairman of sanlamgroup. Sanlam is a South African financial services
group headquartered in Bellville, Western Cape, and listed on the Johannesburg Stock Exchange
and the Namibian Stock Exchange. Established in 1918 as a life insurance company, Sanlam
Group has developed over time into a diversified financial services business.
Through its business clusters – Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam
Investments, Sanlam Corporate and Sanlam – the group provides financial solutions to
individual and institutional clients across all market segments.
The group's areas of expertise include insurance, financial planning, retirement, trusts, wills,
short-term insurance, asset management, risk management, capital market activities, investment
32
and wealth. The group operates in South Africa, Namibia, Botswana, Swaziland, Malawi,
Zambia, Tanzania, Rwanda, Uganda, Kenya, Ghana, Nigeria, Mozambique, India, Malaysia and
the UK and has business interests in the US, Australia and the Philippines. It has a stake in
leading global micro-insurance specialists; UK- based Micro-Ensure Holdings Limited, which
has a footprint across Africa and India servicing more than 10 million enrolled clients.

Piramal Group
Mr. Ajay Piramal, Chairman of Piramal Group. The group calls themselves a global, diversified
conglomerate focussed on doing business with purpose. Valued at US$ 10 Billion, Piramal
Group is a global business conglomerate with interests in pharma, Financial Services,
Information Management, Glass Packaging and Real Estate. With 76,000+ staff and over 100
million customers, Piramal operates in India, US, UK, European Union, Japan and South Asia.
The Group’s flagship company, Piramal Enterprises Limited, generates more than 51% of its
revenues from international markets. Piramal Foundation runs sustainable development
programs across healthcare, education and water resources. Piramal Sarvajal and Piramal
Swasthya, initiatives of the Foundation, are case studies at the Harvard Business School. By
2018, Piramal tends to carve out the financial services business from Piramal Enterprises, which
is dominated by the healthcare business. After selling his stake in Vodafone, Piramal spent Rs.
2,014 crore to buy a 20% stake in Shriram Capital Ltd, an arm of the Chennai-based Shriram
Group. The purchase was made in addition to a Rs. 1,636 crore investment in Shriram Transport
Finance Co. Ltd, for 9.9% stake. Mr. Ajay Piramal also serves as the Chairman of Shriram
Group.

HIGHLIGHTS OF SHRIRAM LIFE INSURANCE

• Shriram Life has more than 528 branches with over and above 1.45 crore customers.
• Shriram Life clocked Rs.1020 crore gross premiums in 2015-2016.
• The company has a network of 609 offices and 75,000 agents across India.
• Shriram has an outstanding Underwriting Record and has awarded as ‘Underwriting Initiative
of the Year.’
• Shriram Life Insurance generates more than 40% business through providing insurance to rural
area and weaker segment individuals - ‘AAM AADMI’ of India.
• The Founder of Shriram Group, Mr R Thyagarajan, has been awarded with Padma Bhushan
award.
2.4 Product portfolio.

PRODUCTS OF SLIC
• Shriram life growth plus plan
• Shriram life assured income plus
• Shriram life online term plan
• Shriram life assured advantage plus
• Shriram life genius assured advantage plus

33
• Shriram life comprehensive cancer care
• Shriram life my spouse term plan

These are the policies which we interns have to pitch-

1. Assured income plan

Entry age- 30 days to 50 years
Policy term- 8 years to 10 years
Sum assured- 10 lakh
Premium- 1 lakh annually

Maturity benefit-
I. Lump sum- 118% of sum assured
II. Regular pay out- 162% of annualized premium(factor rate 0.09)

Death benefit-
I. Lump sum- 118%of sum assured
II. Regular pay out- 162% of annualized premium
III. 50% lumpsum+50% regular pay out

2. Assured income plus plan

It is also called as 555 plan.
Policy term- 10 years
Entry age- 8 years
Minimum entry age- 8 years
Maximum entry age- 60 years
Maximum maturity age- 70 years
Minimum premium- 25000
Paying period- 1 to 5 years
Waiting period- 6th to 10th year
Returns- 11th to 15th year(double)

Death benefits-
I. At the time of entered in this plan age is upto 50 years, 10 times return of
Annualized premium.
II. If the age is more than 50 years, 7 times return of annualized premium.

3. Genius assured benefit plan

Entry age- 18 years to 45 years
Policy term -10 to 18 years
Premium payment term- 10 years
34
Maximum age at maturity-63 years
Minimum sum assured – rs 2 lakh
Mamaximum sum assured –no limit
Minimum premium –rs 21732
Benefits on-
1. Death
2. Family support
3. Education support
4. Maturity benefit

2.5 Organizational Structure

An organizational structure is a system that outlines how certain activities are directed in order to
achieve the goals of an organization. These activities can include rules, roles, and
responsibilities. The organizational structure also determines how information flows between
levels within the company.

In shriram life insurance basically functional structure is there .In a functional structure, the
organization is divided into groups by roles, responsibilities or specialties. For example, within
an organization you may have a marketing department, finance department and sales department
with each overseen by a manager who also, has a supervisor that oversees multiple departments.
A functional structure can be beneficial because departments can trust that their employees have
the skills and expertise needed to support their goals.

Benefits of this type of structure include:

 Establishing clearly defined roles and expectations

 Facilitating improved performance and productivity
 Allowing for skill development and specialization

2.6 Award/ Rewards/ Achievement

 Mr. R. Thyagarajan received the Padma Bhushan award from former president of India
Mr. Pranab Mukherjee in the year 2013.
 Mr. Manoj Kumar Jain managing director received the best CEO of the year BFSI award
in 2015.
 SLIC was awarded the BFSI award of best life insurance company in the year 2015.
 Shriram Life Insurance Company received the bizz Americans 2016 award.

35
  Best Indian insurance award for non -urban coverage – life insurance was awarded to
shriram life insurance by SP Noida Pvt Ltd.
 Mrs. Akhila Srinivas, managing director was awarded Asia’s most powerful business
woman award in the year 2015.
 SLIC was awarded the international arch of Europe award in Frankfurt 2015
 Indian Insurance Award for Non-Urban Coverage - Life Insurance - Finetelekt, SP Media
Pvt. Ltd.
 Managerial Excellence Award 2015 - For excellence in diverse areas - Madras
Management associationassociation
 Gold Award for Customer Service Handling –CLAIMS during the 8 th Excellence
Competition.
 Gold Award for Morale Boosting HR Practices during the 8 th Excellence Competition.
 Best Customer Experience in Financial Sector – Non Banking, 2020.
 Recognition for Active Customer Engagement 2019.

2.7 Future Plan

As because of pandemic future plans of shriram has been changed because of change in the
environment. They will focus on making more customers which will invest lots of money in the
insurances that will not only benefit the company but also the customers.

3.0 Chapter No. 3 - Finding, Suggestion and Conclusion

3.1 Introduction

While doing my internship with the shriram life insurance for 60 days ,I have learned about the
marketing and sales process and worked as an insurance agent which gave me emmense
knowledge of working. By that I have made some conclusions.

36
3.2 Findings: General findings/ Specific Finding

The findings that can be drawn from the survey conducted by me can be summarized in the
Following way:
 57.1 % People who are not aware of Shriram life insurance.
 Among the 50 insurance holder’s 43 respondents have policy of LIC whereas only 15
respondents have policy of SLIC (Shriram Life Insurance Company) and remaining have policy
of some other companies.
 27 respondents have only one policy, 21 respondents have two policies, and others have three
or more than policies.
 According to the survey all criterion is important as savings, tax benefits, covering risk to life,
security to family, which is expected among majorly respondents.
 According to the survey majorly respondents would like to pay ‘Monthly’ premium.
 According to the study premium, returns, goodwill of the company, duration of the policy are
to be highly important criteria which we consider before taking up a life insurance.
 Majorly respondents said maybe they would choose Shriram Life Insurance for buying new
policy.
 According to this study majorly respondents prefer LIC other than Shriram Life Insurance
Company.

3.3 Suggestions:

• Shriram Life Insurance should focus on Extensive marketing in order to capture PAN India
market.

• SLIC uses only online channel to sale his policies to customers they should use offline channel
as well.

• Good image in transportation but customer are not aware of insurance of Shriram.

• In north area there is a need of more advertisement and promotion.

• Its products are less attractive than LIC.

• Its customer relationship is not good.

3.4 Conclusion

Insurance is a tool by which facilitates of a small number are compensated out of funds collected
from plenteous. Insurance is a safeguard against uncertain events that may occur in the future.
Since the first year of operations, Shriram Life Insurance made profits in the first three

37
consecutive years- becoming the only private life insurer to have achieved the distinction.
Compared to industry peers after 7 years of operation, Shriram Life insurance was the most
profitable life insurance company in the country, this progress leads to increase the company
image and makes a way to lead the total insurance market. Life insurance is also now being
regarded as a versatile financial planning tool. Research indicates that Indians have four basic
financial needs during their life - asset accumulation (such as buying a house or car), protecting
their family, securing their children education, and provision for their retirement. So, while there
are three basic types of insurance, these have been structured with increased flexibility to meet
focused requirements. Furthermore, these can be enhanced with riders to protect one against
disability and provide monetary compensation at times of critical illnesses or surgeries.

India being a country having a huge population of around one billion people with only 22% of
the insurable population in India possessing life insurance the country has a vast potential which
has been left untapped till now.

The competition in the insurance sector is becoming so intense that it has become difficult to
Identify the crucial success factors though the distribution strength will always be the key to
Success. Another area of vast improvement is in service attitude and delivery. Undoubtedly, The
biggest beneficiary of the competition amongst life insurers has been the consumer.
A wide range of products, customer-focused service and professional advice has become the
Mainstay of the industry, and the Indian consumer has become the focus of each of the
Company’s strategy. Consumers today also seek products that offering flexible options,
preferring products with Benefits unbundled and customizable to suit their diverse needs. The
trends in developed economies where people are not only live longer and retire earlier Are now
emerging in India. With the breakdown of traditional forms of social security like the Joint
family system, consumers are now concerning themselves with the need to provide for a
Comfortable retirement. This trend has been further driven by the long-term decline in interest
rates, which makes it All the more necessary to start saving early to ensure long term wealth
creation. Today’s Consumers are increasingly interested in products to help build wealth and
provide for Retirement income.
This all adds up to major change in demand for insurance products. Firms will need to constantly
innovate in terms of product development to meet ever-changing consumer needs. Competition
will result in the market to grow beyond current rates and offer additional consumer choice
through the introduction of new products, services and price options. With the heightened
awareness and consumer education comes a willingness to view life insurance as an integral part
of the financial portfolio. No longer is life insurance a poorly understood product that is pushed
onto people. Nor is it a product that is only to be bought hurriedly at the time of filing taxes. Its
now catching on as an important element that is purchased to fulfill specific rational and
emotional needs and has clear benefits and advisors are being trained to sell insurance as a
solution to meet these needs.

38
To conclude with I would just like to say that the people preferences are changing regarding
insurances nowadays, earlier Insurance was a means for wealth creation and that too for a longer
period as returns were comparatively low but as compared with the data in the current past it can
be said that people are shifting towards Insurance sector not only for tax saving but for future
planning, life covering risk against security, etc. But again when compared with other investment
options people still prefer Bank Deposits, Equity & Mutual Funds because they provide a higher
percentage of return when compared with Insurance Sector.

4.0 Annexure
Date-__________________

Dear sir/madam

We are doing a brief survey to find out the thinking of people related to insurance companies and
their products.we would be grateful if you could spare a few minutes to participate in it and we

39
assure that information taken will be purely used for academics purpose and this will also helps
us in knowing the what the insurance companies are lacking in their sales processes.thankyou for
your cooperation.

Questionnaire

Q1. Name

Q2. Gender

o MALE
o FEMALE

Q3. What is your occupation.

o Business
o Service
o Retired
o Any other

Q4. Do you have life insurance.

o Yes
o No

Q5. If yes, then what is your reason for getting life insurance

o Reduced risk for dependents

o Reduced personnel risk from incurable illness.
o It’s a good investment
o It’s a standard practise
o Any other

Q6. If no,then why you are not interested in buying life insurance

o Complicated
o Expensive
o Not beneficial
o Not transparent
o Any other

Q7. Which company’s insurance you prefer the most

o Lic

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 o Icici prudential
o Realiance life insurance
o Sbi life insurance
o Shriram life insurance
o Tata aig life insurance
o Any other

Q8. How would you like to obtain information on a life insurance product

o Online brochures/websites
o Mail
o Speak to am agent/advisor in person
o Over the phone
o Any other

Q9. How you would like to buy life insurance

o Internet
o Online chat with an advisor
o Over the phone
o Advisor at the branch
o Any other

Q10. What do you think are the benefits of insurance cover

o Cover future uncertainity

o Tax deduction
o Future investment
o Any other

Q11. Which feature of your policy attracted you to buy it

o Low premium
o High risk coverance
o Money back guarantee
o Reputation of the company
o Agents conviction
o Any other

Q12. Do you think life insurance policy is anecessity in todays scenario

o Very essential

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 o Essential
o Partially
o Not required

Q13. What is the right age to buy life insurance

o After 18
o After 25
o After 35
o After 45
o Anytime

Q14. What will you look for in insurance companies

o A trusted name
o Friendly service and responsiveness
o Good plans
o Accessibility
o Any other

Q15. Are you satisfied with the service provided by insurance agents

o Very satisfied
o Satisfied
o Neutral
o Not satisfied
o Very dissatisfied

Thankyou for your participation.

5.0 Bibliography
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WEB REFERENCES:
• https://www.coverfox.com/life-insurance/life-insurance-companies/shriram-life-insurance/
• https://shodhganga.inflibnet.ac.in/bitstream/10603/50603/5/ch-2.pdf
• https://shriramlife.com/
• https://docs.google.com/document/d/1B6Rk0qAnujorzZSTJr-oysady-
2FD9sJP3LVEeYgtEY/edit
•https://docs.google.com/document/d/1cse3wjgjluylgvr_co3vz6stvbzpob_x4Ncd8lJrng
Q/edit
• https://mail.google.com/mail/u/0?Ui=2&ik=91c772f3fb&attid=0.4&permmsgid=msg
F:1636839955936631336&th=16b739447fc4da28&view=att&disp=inline
• https://mail.google.com/mail/u/0?Ui=2&ik=91c772f3fb&attid=0.2&permmsgid=msg
F:1636839955936631336&th=16b739447fc4da28&view=att&disp=inline

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