ABSLI SIP Report

P a g e 1 | 40
MARKETING COMMUNICATION AND ADVERTISEMNET
DESIGN
SIP project report submitted in partial fulfilment of the requirements for the
PGDM Programme
By: Akanksha Gohil
Supervisor: 1. Company Guide:
2. Faculty Guide:

P a g e 2 | 40
Acknowledgment
I would like to express my special thanks of gratitude to my company guide Mr. ____, Aditya
Birla Capital, Delhi for his constant guidance, support and continuous motivation for helping me
to pursue an internship in my interest arena and for helping in completing it.
During the eight weeks of my internship I have gained deep knowledge about the subject of my
internship and the essential corporate nuances which will be helpful for me in my future corporate
life.
I would also like to give my heartfelt thanks to _________, Associate Professor Marketing, for
constantly guiding me through-out this internship, providing me with useful feedbacks and
encouraging me to perform better. I would also like to thank IMT Nagpur, for providing me with
this great opportunity to work in such a prestigious firm and gain real-time work experience from
it.
Last but not the least, I would like to thank my team mates, other employees of ABSLI, Delhi who
were also guiding me during my internship, my friends and my family members, without whose
constant invigorating support completion of this internship would have a rather tough job.
Name: Akanksha Gohil
Roll No: 201812059
Section: B

P a g e 3 | 40
Certificate of Completion

P a g e 4 | 40
Table of Content
Serial Number Title Page Number
1 Acknowledgement 2
2 Certificate of Completion 3
3 Introduction & Objectives 5
4 Brief description of concepts 6
5 Company analysis 10
6 Tabulations and findings 17
7 Interpretations and conclusions 29
8 Recommendations 32
9 Limitations of the study 32
10 Scope of future improvement 33
11 Appendices 34
12 Bibliography 40

P a g e 5 | 40
Introduction
I interned at Aditya Birla Capital- Sun Life Insurance, Delhi. This company comes under Non
Banking Financial Companies (NBFC). My summer internship projects and tasks mainly consisted
of understanding the consumer behavior towards insurance sector, understanding the concept of
tension line and how it is used, building market communication, creating advertisement campaigns
and creatives, performing primary and secondary research with respect to insurance sector.
Objectives of study
Following were the main objectives of my study: -
 Understanding the current market trend and consumer behavior towards insurance.
 Build story line for advertisement campaigns and creatives with respect to Aditya Birla
Capital.
 Perform media planning (Radio, Television, Newspaper, YouTube).
 Building strategies to acquire new insurance agents for Aditya Birla Capital.
 Reviewing consumer perception about ABSLI on social media platforms like- Facebook
and Mouthshut.com.
 Building, circulating and analyzing questionnaire to understand the psyche of consumer
for insurance sector and bring out effective solution for the same.

P a g e 6 | 40
Brief description of Insurance Sector in India
Insurance signifies for protection against loss. It is a type of risk management, wherein we try to
mitigate our risks and losses in exchange of monetary compensation. Insurance is a type pf
contract/policy in which a person gets financial protection against his losses from the insurer.
There are two main terms which generally comes in play in the insurance sector, they are- insurer
and insured/policy holder.
The ‘insurer’ is a type of entity which provides the insurance and the ‘insured’ is a person or an
entity who buys the insurance. The insured person buys an insurance policy from the insurer. There
are three main components of an insurance policy- Premium, Policy Limit and Deductible.
Premium- Premium is simple words is a policy’s price. It is the amount of money charged by the
insurer to the insured person or policyholder. The amount of premium is determined by the
insurance company, and it is based on various factors, such as:
o The type of coverage
o Age
o Area where the person is living
o Health issues, if any
Policy limit- Policy limit is the maximum sum of money that the insurance company or the insurer
will have to pay to the policy holder for the covered loss. Generally, higher the policy limit is,
higher the policy premium is.
Deductible- It is the amount of money that the policy holder has to pay for his policy before the
insurance company starts to pay.
 Introduction to insurance sector in India: -
The first successful company in this sector was National Insurance Company, it was founded in
1906. The came Life Insurance Corporation (LIC) in 1956, and after that Insurance Regulatory
and Development Authority of India (IRDAI) was formed in 1999. The General Insurance
Corporation of India (GIC) was formed in 1972. Till the late 90s there were only two major players
in this sector – LIC and GIC, after that this sector was the made open for private companies as

P a g e 7 | 40
well. Today there are nearly 57 insurance companies present in India, of which 24 companies are
dedicated to life insurance only. Out of those 24 companies there is only one public company, i.ie
Life Insurance Corporation. Rest other companies have insurance policies that cover- health, travel
and personal insurance etc.
 Types of Insurance: -
There are broadly two types of insurance:
1. Life Insurance
2. General Insurance
A basic classification of these two is given below: -
Fig: Classification of Life Insurance and General Insurance
Life Insurance: -
In a layman’s language, life insurance secures one’s family financially after the death of the
policyholder. In this one either need to make the lump-sum payment while buying the policy or
make a periodic payment to the insurance company. In return of these premiums the insurer

P a g e 8 | 40
promises to pay an assured sum of money to the family of the policyholder in case if his demise,
disability or at a set time.
i) Term Life:
It is one of the most basic type of life insurance, it covers one for a specific time period.
In case of demise of the person who has bought the policy, his/her family gets a lump-
sum amount. And if the person survives then no money is returned or paid to him or
his family members.
ii) Whole Life Insurance:
It covers a person for the whole life time, i.ie, the family of the policyholder receives a
lump-sum amount of money after the death of the person.
iii) Money Back Policy:
In this policy a certain sum of money is paid to the policyholder periodically throughout
the term, as a survival benefit. The family gets entire sum assured in case of demise of
the person during the policy period.
iv) Unit Linked Insurance Plans:
In this scheme/policy, a part of the premium paid by the customer goes towards the
insurance cover, remaining is then invested in debt and equity funds. If the policy
holder dies then a lump-sum amount is paid to this family.
v) Pension Plans:
This plans helps a person to build his retirement fund. By taking up this kind of policy,
a person can get a regular pension amount after retirement. And in case of death the
family will receive the pension amount.

P a g e 9 | 40
General Insurance: -
i) Motor Insurance:
This is a general insurance cover for the loss for one’s vehicle due to accidents, theft,
damage, fire or natural calamities
ii) Health Insurance:
In health insurance, it covers the amount one has to bear due to the medical treatment
of any illness or injury. Hospitalization, treatment of any critical disease or medical
bills.
iii) Home Insurance:
If there is any damage caused to the home of the policyholder by any natural calamities
or by any other man-made disaster, then home insurance compensates for that loss.
iv) Fire Insurance:
If damage is caused to the property due to fire, then fire insurance pays or compensates
for that loss of good.
v) Travel Insurance:
While traveling within the country or abroad, if any financial liability arises due to any
medical or other reason, then travel insurance compensates for it. Travel insurance
cover- Loss of luggage, medical expenses, loss of passport, delayed flight etc.

P a g e 10 | 40
Concepts used in the study
 Marketing Communication:
It refers to the means taken up by the companies to convey their message about their
products to the customer. Marketing communication are the different medium and ways
taken up by a company to transfer information about their products to the customers.
Marketing Communication include- Advertising, sales promotion, personal selling, direct
marketing, sponsorship, public relation and publicity, interactive marketing, events and
experience.
 Tension Line:
Tension line is the main objective of any advertisement campaign. It is the main point on
which a marketer wants its customer to focus on in an advertisement.
 Consumer Behavior:
It refers to the studying and observing how consumer select, buys, accepts, rejects ideas
and product to satisfy their needs and wants. I studied the behaviors of consumer with
respect insurance sector, and its importance while making advertisement campaigns for the
insurance policies.
 Factors which affect the consumer’s buying behavior for insurance: -
 Faster claim process – After the damage is done, the company should be able
to process the claims faster.
 Tax saving – Customers look for those policies which can save their tax the
maximum.
 Family security – Customers are more inclined towards policies that can secure
their family well.

P a g e 11 | 40
 Investment for future – If the insurance agents convinces the customer that he
is not buying an insurance rather he is buying an investment product than the
probability of a customers buying an insurance is more.
vi) Segmentation, Targeting and Positioning:
 Segmentation: It means grouping the market in small categories with common
characteristics and similar product needs, so that appropriate target group can
be selected.
 Targeting: It means after segmentation, we identify the most appealing segment
which can provide us good business and profits.
 Positioning: It means the way we align our brand in accordance with the
targeted market.
vii) Brand Equity:
Brand equity means the value that a company has generated because of its services and
products provided to its customers. It means that the product are known or referred by the
brand name more, rather than product name. For example: Colgate has brand equity for
toothpaste, so instead of saying toothpaste, majorly people say Colgate.

P a g e 12 | 40
Company Analysis
Aditya Birla Sun Life Insurance (ABSLI) was founded on August 4th, 2000 and started its
operations on January 17th, 2001. It is a joint venture between one of India’s largest company-
Aditya Birla Group (ABG) and a leading insurance firm from Canada- Sun Life Insurance in 51:49
ratios respectively.
Earlier it was known as Birla Sun Life Insurance, later on it became Aditya Birla Sun Life
Insurance. Today, it is one of the leading insurances company in India which offers a wide range
of insurance products.
The total AUM of Aditya Birla Sun Life Insurance, as of December 31st , 2018 is Rs 389,548
Million. The gross premium income recorded for ABSLI in the quarter 3 of fiscal year 2018-19
was Rs. 18,599 Million, it displays a year-on-year growth of 68% in Individual First Year Premium
segment.
Currently, there are 425 branches, 9 bancassurance partners, 6 distribution channel, over 83,000
direct selling agents, corporate agents and brokers. ABSLI has over 10,000 employees and more
than 16 lakhs of active customer.
ABSLI offers a wide range of protection solution and insurance products for the completely
securing one’s family’s future. Its products involve child education plan, retirement plan, medical
solutions, travel protection, life insurance and so on. The key feature of ABSLI is that it always
puts its customer’s needs first and strives to fulfill them with utmost priority.
Vision, Mission & Values:
 Vision:
To be a leader and role model in a broadly based and integrated financial services business.
 Mission:
To help people mitigate risks of life, accident, health and money at all stages and under all
circumstances enhance the financial future of our customers including enterprises.

P a g e 13 | 40
 Values:
a) Integrity: Acting and taking all the decisions in a manner that is always fair and
honest. Integrity does not only mean financial and intellectual integrity, but in all
other forms that are understood commonly in this world.
The key points of integrity are- Ethical, Truthful, Principled, Transparent, Upright,
Respectful.
b) Commitment: Continuing on the foundation of integrity, our commitment is doing
all that is needed to deliver value to all the stakeholders.
Key notes of Commitments are- Accountability, Discipline, Responsibility,
Results-Orientation, Self-Confidence and Reliability.
c) Passion: Our passion is an energetic, intuitive zeal that arises from the emotional
engagement with the organization that makes work joyful and inspires each one to
give his or her best.
Key notes of Passion are- Intensity, Innovation, Transformational, Fire-in-the-belly
and Deep Sense of Purpose.
d) Seamlessness: Thinking and working together across functional groups,
hierarchies, businesses and geographies. Leveraging the available diversity to
garner synergy benefits and promote oneness through sharing and collaborative
efforts.
Key note of Seamlessness are: Teamwork, Integration, Involvement, Openness,
Learning from the best and Global Empowering.
e) Speed: Responding to internal and external customers with a sense of urgency.
Continuously striving to finish before deadlines.
Key note of Speed are: Response time, Agile, Accelerated, Timelines, Nimble,
Prompt, Proactive and Decisive.

P a g e 14 | 40
SWOT Analysis of ABSLI :-
SWOT analysis stands for – Strength, Weakness, Opportunity and Threat for any company. Out
of these four, the strengths and weaknesses come under internal factor, which means they are
internal to the company, and the opportunities and threats comes under external factors, meaning
that these two are external to the company.
The pictorial representation of SWOT analysis of ABSLI is given below: -
Fig: SWOT analysis of ABSLI
• Economic
instablity
• Entry of any new
company in this
sector
• Growing
Awareness
• Ever growing
Market
• Lower Presence in
Rural market
• Less
advertisements
• Well spread
Network
• Brand name
• Capital Base
Strengths Weakness
Threats
Opportuniti
-es

P a g e 15 | 40
Strength: -
Strength are the internal and also the positive component of the company, for ABSLI following
were the strengths:
 Well Spread Network: ABSLI has 425 branches all over India covering all the major cities
and rural areas of the country. It has more than 20,000 agents spread all across the country
 The brand of Aditya Birla has good image and good will among Indian people, so it acts
as a positive point for Sun Life Insurance.
 It emphasizes on having customer satisfaction.
 It has a stronger capital base.
Weakness: -
Weakness are also internal factors and are things that the company needs to work upon.
 It has very low presence in the rural market of India as compared to its major competitor
i.ie., LIC
 The advertisement campaigns run by ABSLI are also less in number as compared to LIC.
Opportunity: -
Opportunities are external factors of the environment. Opportunities are those factor that can help
the company to proceed towards success.
 The growing potential in the rural market of India
 Alignment with the government schemes.
 Increasing awareness in public towards insurance sector.

P a g e 16 | 40
Threats: -
Threats are the external factors on which the company has no control over. One should try to have
a backup plan or a contingency plan to deal with them.
 Sudden economic instability.
 Economic crisis may occur.
 Threat from the entry of a new NBFC company in the market, which may offer better
products and services.
Functional working of marketing department and its integration with other department in ABSLI:
The marketing department plays a crucial role in defining, promoting and managing the brand
name in any organization. In an insurance company, marketing department serves an important
role to meet the supply demand of products. In insurance sector, the product is an insurance policy,
they cannot be seen nor touched, but they exist as a promise. To sell a promise is much more
difficult task than to sell a product. Therefore, the marketing department segments the customer
group and accordingly the promotion strategy of a policy or product is determined. Also to judge
the consumer behavior, we need to understand their psyche, which can be done by market research,
which again comes under marketing department.
Relevance of project in the context of overall company objective and strategies:
The projects that I have worked upon during my internship period consisted of making creative
story line for the advertisement campaigns of ABSLI, devising new ways to reposition ABSLI,
conducting primary research to judge the consumer behavior towards insurance sector, checking
out reviews about ABSLI on www.facebook.com and www.mouthshut.com and suggesting
relevant solutions. Hence all the projects worked upon by me were in context with company’s
objective and strategies to build a better brand.

P a g e 17 | 40
Tabulations and Findings
1. Primary Research: Survey to find out consumer behavior towards life insurance:
I worked upon this task to find out the consumer behavior towards life insurance, therefore me and
my team mate constructed a google form for the same. The form included question to judge the
response of consumer and after than evaluate and analyses the responses to bring out a solution
The link of the google form is : https://docs.google.com/forms/d/1e6dhfbwZmwT1sAoSgMUvf-
d4f5rlTzvBonmQj80WdPY/edit
Screen shot of the google form is below (complete form is given in appendices, page no.-34) :-
Fig: Screen shot of the survey form
In total there were 13 questions, covering basic information like name and age, and required
aspects like: Do you have a life insurance, from which sector (public or private), what is your

P a g e 18 | 40
purpose of insurance, which company do you prefer, why did you choose this sector, what was
your source of information for this company, what is your expectation from the company, what is
your insurance cover etc.
Findings: -
 There were in total of 123 respondents. The average age of our respondents was: 36 years
 The ratio between people preferring life insurance from public sector and private sector
was nearly the same: 48.5% for Public sector and 51.7% for private sector, it can be seen
in the pictorial presentation of the fourth question of my primary research survey form: -
Fig: Question 4 of the survey form
 When asked to the customer as to why did he not take an insurance, the results were: Many
people did not take the insurance because they do not have proper knowledge of the same,
60.6% of the respondents say that they don’t have proper knowledge about the life
insurance policies: -

P a g e 19 | 40
 Mostly people bought life insurance to secure their families after their demise and for
covering risk to life, after that maximum people choose life insurance policy as an
investment. Therefore, it can be concluded that for promotion and branding purposes, the
company should focus on these point. ABSLI should include these factors while they are
making any advertisement or any other promotion strategy. This will help them to get a
better reach and better sales: -

P a g e 20 | 40
 Among all the respondents, many people took insurance for the spouse (husband/wife) and
least insurance was take for siblings (brother/sister). Therefore, while making a creative or
any advertisement story line, we should keep in mind to inculcate an essence of emotional
connect towards spouse and parents. So that after watching the advertisement, the customer
could connect to it and could relies it easily and quickly that they need to buy the insurance
policy: -
Therefore, from the above result and analysis, we concluded that, while making any advertisement
campaign, be it for the television, radio or SMS marketing, we need to include the below
mentioned factors:
 Customers are now more open for private sector companies
 Customers need to be educated regarding insurance policies and their benefits
 Mostly customers buy insurance to secure their families
 Usually, customers buy insurance for their spouses
 Friends and relatives are the major source of information regarding insurance

P a g e 21 | 40
2. Checking out www.facebook.com and www.mouthshut.com for reviews about ABSLI
I went through all the reviews and post that the customers have posted on ABSLI’s official
facebook page (https://www.facebook.com/abclifeinsurance/) and on mouthshut.com
(https://www.mouthshut.com/product-reviews/Aditya-Birla-Sun-Life-Insurance-reviews-
925030231) regarding their experience with ABSLI. I found that many comment and
reviews were negative and were generated due to delay in claim settlement and improper
information.
Three prominent problems were:
a) Deduction of premium before the designated date.
b) Poor customer service.
c) Information of customers are not updated on time on their online portal.
Therefore, the solutions suggested by me were:
While constructing an ad campaign we need to focus on the following pointers: -
a) Showcasing the trust people have on Aditya Birla Sun Life Insurance brand.
b) Customer relationship management.
c) Effective and better after sales service.
Problems
Solutions

P a g e 22 | 40
3. Story line of Advertisement campaigns for Milton tiffin, developed by me:-
Fig: Story of ad-campaign for Milton tiffin
4. Story line of Advertisement campaigns for Milton tiffin, developed by me: -
i) Displaying the after sales service of ABSLI:
Fig: Story of ad-campaign depicting after sales service of ABSLI

P a g e 23 | 40
ii) Making customer realize the importance and need of insurance and encouraging
them to buy ABSLI insurance plan:
Fig: Story line of ad-campaign encouraging people to buy insurance
5. Ideas for repositioning the brand Aditya Birla Capital:
(i) A poster containing a picture of Family (father, mother, son and daughter-in- law)
behind whole Aditya Birla logo is present. As Aditya Birla Capital consist for four
major branches- Advising, Protection, Financing and Investing, these four member
will also depict the same, such as: Father-Advising, Mother-Protection, Son-
Financing, Daughter-in-law – Investment.
(ii) A poster or a social media post showcasing four seasons of India- Spring, Summer,
Rainy and Winters. The poster will be comparing the four seasons of India with the

P a g e 24 | 40
four major branches of Aditya Birla Capital. Financing- Spring, Investing-
Summers, Protection- Rainy, Advising- winter.
6. Media Planning - Radio:
I performed Media Planning (Radio) for Delhi region only. The popularity of radio
channels in Delhi is as follows: First is Radio Mirchi, followed by Big FM and then comes
Radio One and many other stations. Media planning to play an advertisement of ABSLI on
Radio Mirchi (Delhi) is as follows: -
(i) Prime Time: 7 AM – 12 PM and 5 PM – 11 PM
(ii) Jingle: A short message that describes the product and promotes the brand. Generally,
it is of length 10-30 secs. It can be played only during the prime time, or only during
the non-prime time or can be mixed throughout.
(iii) RJ Mention: In this, the RJ talks about our brand for 30-45 sec. A positive mention
from a popular RJ can be a rewarding influence on any brand.
(iv) Sponsorship Tags: Radio sponsorship can generate brand awareness. In this, the name
of the brand is attached with any specific program or sing. It creates a positive
association in listener’s mind, between the brand name and the attributes of the
program.
(v) Contest: In this, the radio station talks about the advertiser/brand and asks questions to
the listeners, giving them a chance to win related prize provided by the
advertiser/brand.
(vi) Time Check: In this a 5 seconds pre-recorded advertisement or audio about the brand
that is played before and after the commercial ads during any program.
(vii) Road Block: Roadblock (Mixed Time)- When the advertiser buys all the ad spots in
any of the hour during the day. Roadblock (Prime time) - When the advertisers buy all
ads between 7am-12pm & 5pm - 11pm. Roadblock (Non-Prime time) - When the
advertisers buys all ads between 12pm-5pm.

P a g e 25 | 40
Pricing of the above mentioned radio plans is as follows: -
PLAN NAME PRICE (in INR)
Jingle 285 INR (per sec)
RJ Mention 8000 INR (per mention)
Sponsorship tags 2400 INR (per mention)
Contest 6000 INR (per content)
Time Check 3600 INR (per mention)
Road Block 800,000 INR (per hour)
Fig: Name of the plans and their prices
7. Direct Sales Force Expansion: Survey to find out consumer behavior towards
becoming an insurance agent:
I worked upon this task to find out the consumer behavior towards becoming an insurance agent,
for the same me and my team mate constructed a google form and floated it across our friends and
family. The form included question to judge the response of consumer and after than evaluate and
analyses as who could a become a potential insurance agent.
The link of the google form is :https://docs.google.com/forms/d/1bghnUOHxHnaBESHeUymkojTVillG
hRXsR8ZIF 9vJtQ/edit?ts=5cc9cfe9
The screen shot of the some of the major questions and their results are as below: -
 There were in total of 136 respondents, of which 72 were female and 64 were male.
 One of the question asked was if the person like to socialize, so our thought process was to
target those respondents who have said YES (which were 116, 85.3%), because these
respondents will have a greater social circle and hence it will be easy for them to sell and
pitch the insurance policies:-

P a g e 26 | 40
 Then we asked whether they were interested in earning extra source of income, if the
respondent answers YES, then he/she already has a source of motivation, therefore it will
be easy for them to persuade to become an insurance agent:-

P a g e 27 | 40
 When asked how many days they would like to work in office in a week. Most of them
(37%) replied only 2 days. This point can also serve as a positive point for us, since as an
insurance agent one does not need to visit office daily. Twice in a week is sufficient for an
insurance agent to go to office:-
 We got to know from this survey that many people were inclined towards working nearly
3-5 hours a day, which is a desired time of work for any insurance advisor. And a retired
person or a housewife can easily dedicate this time to their work.

P a g e 28 | 40
 To check our brand awareness, we also asked a question which says which company would
you like to work for? From this question we got to know that our major competition is with
ICICI and HDFC when it comes to consumer perception of a brand:-

P a g e 29 | 40
Interpretation and Conclusion
I completed my internship at Aditya Birla Sun Life Insurance, Delhi. The tasks given to me during
the internship has provided me practical learning experience. This internship helped me to
understand the insurance sector well, and also provided me with a deep insight of how marketing
works in this sector and what is its need.
I was able to put many of the concepts that were taught to me during the first year of my PGDM
program into action. The tasks given to me gave a real vision towards how consumer, the end user
of a product, behave and what he expects out of the company and its offering. I understood the
need of aligning the future plan and future projects of a company according to the customer need.
This internship has taught me the importance of understanding the consumer not just customer.
And generating advertisement campaigns and their story line according to the consumer is much
more important. I understood that to increase the sales of insurance in a country like India, where
people still hesitate to take a life insurance, we need to first educate them about the insurance
policy, and not only this, we need to tell them that buying an insurance is similar to buying an
investment product, because in the end, it will also provide them with monetary benefits.
While working upon a task, where I had to suggest ways to expand the Direct Sales Force (DSF),
I come to know about the psyche of people who are interested to become agents- which included
majorly housewives and retired person. And both these customer segments- housewives and retired
people hold great potential, as the work of an agent or advisor does not require to be at office full-
time and also the working hours are flexible.
The most important thing of all, this business runs on word-of-mouth, the housewives and retired
persons generally tend to have bigger social circle, therefore the word-of-mouth can be speeded
by them easily and quickly.
During the internship period, I was able to explore myself, my creative side was also getting
nurtured as we were encouraged to construct creative story line for the ad-campaigns. Along with
that I got a hands-on experience on primary research which is the root of any market research, my
knowledge base about the insurance sector also increased.

P a g e 30 | 40
In conclusion, we can say that the insurance sector is growing at a faster rate and the need of
generating awareness about life insurance policy is also growing with it. For the same there is a
requirement to increase the DSF channel and tap then untapped segments.
Also during my internship period, I was able to improve my skills as I was constantly receiving
feedbacks about my work from my seniors there at the company and my team mates. I got the
opportunity to explore my strengths and weaknesses and work upon them.
The support, feedback and guidance and suggestions from my project guide at ABSLI helped me
to successfully complete this internship.

P a g e 31 | 40
Recommendation
Based on the analysis conducted and their findings, below are the recommendation for the
marketers of ABSLI:
1. The marketing technique of this business should move more towards digital marketing,
as now many people are always connected to one or the other social media platform.
Therefore, if advertisements are rigorously displayed over there, it can lead to increase
in the consumer base.
2. The awareness about the brand can be increased by putting up poster and hoarding on
prime areas like: Bus station, railway station, industrial area, outside the office of any
famous company etc.
3. Increase employees to serve the customer-service better, as many of the issues faced
by the customers were related to after sales customer services. Also provide them
proper training to resolve the issues quickly and escalate any major issue to a greater
authority, so that customer do not face the trouble for long.
4. ABSLI can conduct free seminars showcasing how their insurance products are more
like investment products. Free seminar will attract customer and with this step we can
also educate and encourage them to take ABSLI’s products.

P a g e 32 | 40
Limitation of the study
While working at ABSLI, Delhi, I faced the following limitations:
1. Unable to reach more customers: During the internship, my work scope included
pitching the policies to my family members and friends, and not to the customer base
ABSLI already had. Many of my family members and friends all of them were already
having insurance policy of one or the other sort.
2. Lack of faith and awareness people have for the company: Since ABSLI is not a market
leader in insurance sector, the people I was pitching to were very much reluctant to
taking an insurance policy from ABSLI.
3. Difficulties in pitching the customer due to lack proper infrastructure.

P a g e 33 | 40
Scope for future improvement
Within the given time period of my internship (8 Weeks), I was able to complete all the tasks and
projects assigned to me, but I feel following could have improved further:
 If real time customer data base could be provided to the intern, it would be very much
beneficial to them.
 Claim- settlement ratio should be improved to gain the trust of people. The current claim
settlement ratio of ABSLI is 96.38% (2017-2018).

P a g e 34 | 40
Appendices
1.The link and screen shots of google form for understanding the consumer behavior towards
insurance sector is as follows:-
Link https://docs.google.com/forms/d/1e6dhfbwZmwT1sAoSgMUvf-d4f5rlTzvBonmQj80WdPY/edit
Screen Shot:

P a g e 36 | 40
2.The link and screen shots of google form for Direct Sales Force expansion is as follows :-
Link:
https://docs.google.com/forms/d/1bgh_nUOHxHnaBESHeUymkojTVillGhRXsR8ZIF9vJtQ/edit?ts
=5cc9cfe9

P a g e 40 | 40
Bibliography
 Official Facebook page of ABSLI : https://www.facebook.com/abclifeinsurance/
 https://www.mouthshut.com/product-reviews/Aditya-Birla-Sun-Life-Insurance-reviews-
925030231
 Reference research paper: Marketing in Insurance Industry, Marketing Functions in
Insurance Industry - Besnik Zekaj
(http://journals.euser.org/files/articles/ejms_may_aug_16/Besnik.pdf)
 https://www.mbaskool.com/brandguide/banking-and-financial-services/1016-birla-sun-
life.html
 https://www.liveplan.com/blog/what-is-a-swot-analysis-and-how-to-do-it-right-with-
examples/
 https://www.acko.com/articles/general-info/types-of-insurance/
 https://www.adityabirla.com/

ABSLI SIP Report

More Related Content

What's hot

Similar to ABSLI SIP Report

More from Akanksha Gohil

Recently uploaded

ABSLI SIP Report