BIRLA SUNLIFE INSURANCE BSLI. SUMMER INTERNSHIP PROJECT

“DEVELOPING AN EFFICIENT MARKETING COMMUNICATION AND
ADVERTISING STRATEGY FOR BIRLA SUN LIFE INSURANCE”
CORPORATE INTERNSHIP PROGRAM PROJECT REPORT
SUBMITTED IN PARTIAL FULFILMENT OF PGDM PROGRAM 2017-19
Submitted By
Name: Chandan kumar
Roll No: 09
Company Mentor Faculty Mentor
Name: Mr. Saurabh Srivastava Name: Dr. Sudhir Rana
Designation: Designation: Professor
Company: Birla Sun life Insurance Co. Ltd

Certificate from Company
This is to certify that Chandan Kumar, a student of PGDM Programme, (2017-19) Batch of
Fortune Institute of International Business, Delhi has undertaken the Corporate Internship
Training at Birla Sun Life Insurance during 2rd
April, 2017 to 23rd
July, 2017 under my
supervision & guidance. He has conducted a study & completed the Project on
Developing an efficient Marketing Communication and advertising strategy for Birla Sun
Life Insurance During Training his work was
Seal of Organization Signature of Company Mentor
Date: Name of Company Mentor
Designation of Company Mentor

Certificate from Faculty Mentor
This is to certify that the Project Report titled Developing an efficient Marketing
Communication and Advertising Strategy for Birla Sun Life Insurance is a bonafide work
carried out by Chandan kumar of PGDM (2017-18) Batch of Fortune Institute of International
Business, Delhi as a fulfillment of PGDM Programme.
He has worked under my guidance and satisfactorily completed his project work.
Date:
Dr. Sudhir Rana

Declaration by the Student
I, hereby, declare that the work presented in this report, entitled “Developing an efficient
Marketing Communication and Advertising Strategy for Birla Sun Life Insurance” in
fulfillment of the requirements for PGDM Programme, submitted to Fortune Institute of
International Business, Delhi is an authentic record of my own work and is free from any type
of plagiarism, carried out under the supervision of Dr. Sudhir Rana.
I also declare that the work embodied in the present report
(i) is my original work and has not been copied from any source, and
(ii) has not been submitted for any other Degree or Diploma of any university/institution.
Chandan kumar
09

Acknowledgement
“Accomplishment of any task necessarily depends upon the willingness and enthusiastic
contribution of time and energy of many people.”
I, therefore, acknowledge all who generously helped me by sharing their time, experience
and knowledge with me without which this project would have been accomplished.
We, would like to extend our thanks to Fortune Institute of International Business
(FIIB) Delhi, for given us the platform for corporate interaction through this Corporate
Internship Program (CIP) which has helped us to understand the duties & responsibility
that comes with a job.
Moreover, I would like to extend my thanks and appreciation to Birla Sun Life Insurance
Company, Saket for giving us the opportunity and a platform to work in a healthy and
knowledgeable corporate working environment. Through Birla Sun Life, we got the
opportunity to meet some wonderful and highly intellectual people.
I would like to thank Mr. Saurabh Srivastava for his welcome to the organization and
introducing us to the various phase of the co-operate front with perceptive guidance,
constant encouragement, constructive criticism and affection were the light of guidance
during tenure of my work.
Finally, I would like to thank Dr. Sudhir Rana our project guide for her patience and
guidance, which not only fulfilled an academic requirement, but would also help me in
future endeavours in the years to come.
Chandan Kumar

Executive Summary
This project aims to develop an appropriate marketing communication strategy using Integrated
Marketing Communication(IMC)/Advertising channels for Birla Sun Life Insurance in Delhi
that would help the company in best promotion and positioning of its brand and increase sales
of life insurance policies through successful marketing campaigns.
In introduction to sector/company, the insurance sector of India was studied by learning about
types of insurance and how it works. It helped me knew about the major insurance players and
their market size in the insurance sector. Then, the management system of Birla Sun Life
Insurance and its policies was studied. Further, the role of Insurance Regulatory and
Development Authority of India(IRDAI)and Indian Government in insurance sector has also
been studied.
In review of literature, few research works done by scholars with respect to Integrated
Marketing Communication(IMC)/Advertising channels has been summarized.
In project objectives, 3 broad objectives that has been achieved successfully during my 3
months of internship as a Marketing Trainee has been stated.
In project methodology, descriptive research has been used in making this project because it
was required to understand and uncover reasons for unsuccessful advertisements and
advertising channel selection, poor positioning and sales of Birla Sun Life Insurance policies
as compared to other insurance companies in India. For this, both primary and secondary data
has been chosen to do my research on Integrated Marketing Communication(IMC) channels
and its impact on Birla Sun Life Insurance marketing campaigns. Certain challenges were also
faced during my research period, which was overcome successfully to some extent.
In data analysis & interpretation, the entire market was mapped and the target market of Birla
Sun Life Insurance was found out. Consumer behavior of the target market was analyzed. Then,
every information about advertisements and various IMC channels like pros and cons of each
advertising channel, cost and time duration of advertisements, its impact, revenue that will be
generated etc. was collected and analyzed. Then, a research on consumer behavior and IMC
channels was done through online survey to understand reasons for poor customer engagement

through advertisements and strategize marketing communication channels by interpreting the
responses for successful marketing campaigns of Birla Sun Life Insurance and get optimum
ROI on expenditures made on advertisements and advertising channels.
In findings, observations and insights made from my research has been stated and summarized
by me after my 3 months of internship at Birla Sun Life Insurance.
In recommendations, as an intern of Birla Sun Life Insurance, few recommendations have been
suggested by me through which the company can build a good brand image and also improve
its marketing campaigns by considering the advertising channels and advertisement
optimization based on my research did on consumer behavior and IMC channels.
The overall internship experience and making project report on it was great learning time. It
helped me to think in a 360° manner. It helped me know how marketing campaigns are planned
by companies considering all costs, reach and revenue to be generated with choosing right
advertising channels as a major challenge due to complex consumer behavior towards
advertisements made by companies. But a research by me on Integrated Marketing
Communication(IMC)/Advertising Channels helped me understand that marketing campaigns
can work wonder for companies if done right.

Table of Contents
S.No Chapter No. Contents Page No.
From - To
1. …………………… Title Page ……………….
2. …………………… Company Certificate ………………..
3. …………………… Faculty Mentor Certificate ………………..
4. …………………… Declaration ……………….
5. …………………… Acknowledgement ………………..
6. …………………… Executive Summary I-II
7. …………………… Table of Contents / List of Illustrations III-V
8. Chapter-1 Introduction to the Sector/ Company
9. Chapter-2 Review of the Assignments
10 Chapter-3 Project Objectives
11 Chapter-4 Action Plan
12 Chapter-5 SWOT Analysis
13 Chapter-6 Findings
14 Chapter-7 Recommendations
15 …………………… References
16 ………………….. Annexures

List of Illustrations
Figures
S.No Title of the Figure/Photograph Page No
1. Division of Insurance Sector of India 2
2. Market share of Life Insurance companies in India 3
3. Birla Sun Life Insurance Company Locations 4
4. Target Market of Birla Sun Life Insurance 7
5. Integrated Marketing Communication channels 19
Tables
S.No Title of the Table Page No
1. Table-1 23
2. Table-2 24
3. Table-3 24
4. Table-4 24
5. Table-5 25
6. Table-6 26
7. Table-7 26
8. Table-8 27
9. Table-9 27
10. Table-10 28
11. Table-11 28
12. Table-12 28
13. Table-13 28
14. Table-14 29
15. Table-15 29
16. Table-16 31

17. Table-17 31
18. Table-18 33
19. Table-19 34
20. Table-20 35
21. Table-21 35

Chapter-1
Introduction to the Sector/ Company

Chapter 1
Introduction to the Sector/ Company
1.1 Introduction
The insurance industry of India consists of 57 insurance companies of which 24 are in life insurance
business and 33 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is
the sole public sector company. Apart from that, among the non-life insurers there are six public sector
insurers. In addition to these, there is sole national re-insurer, namely, General Insurance Corporation
of India (GIC Re). Other stakeholders in Indian Insurance market include agents (individual and
corporate), brokers, surveyors and third party administrators servicing health insurance claims.
Figure 1:Division of Insurance Sector of India
Source: http://www.postallifeinsurance.gov.in/html/aboutus.html
Out of 33 non-life insurance companies, five private sector insurers are registered to underwrite
policies exclusively in health, personal accident and travel insurance segments. They are Star Health
and Allied Insurance Company Ltd, Apollo Munich Health Insurance Company Ltd, Max Bupa
Health Insurance Company Ltd, Religare Health Insurance Company Ltd and Cigna TTK Health
Insurance Company Ltd. There are two more specialised insurers belonging to public sector, namely,
Export Credit Guarantee Corporation of India for Credit Insurance and Agriculture Insurance
Company Ltd for crop insurance.
1.2 Current market Scenario
LIC is by far the biggest life insurance company in India both in terms of market share and their
presence in India – it is the only government owned entity. Most of the private players, in both life
and non-life sectors, have started business in India with the partnership of established insurance
players in the world. The expertise of these global players help the Indian insurance company’s
perform much better as they can replicate the learning gained from other markets over a large
period of time. The number of lives covered under Health Insurance policies during 2015-16 was 36

crore which is approximately 30 per cent of India's total population. The number has seen an increase
every subsequent year as 28.80 crore people had the policy in the previous fiscal.
Figure 2:Market share of Life Insurance companies in India
Source: http://www.rsec.co.in/market-updates/news-detail?coid=366947
Premium income of the life insurance segment had increased 14.04 per cent in FY17 to Rs 4.18 trillion
(US$ 64.92 billion). In August 2017, the Life Insurance industry reported a 24 per cent growth in
overall annualised premium equivalent with the help of both private players and Life Insurance
Corporation.
1.3 Government Initiatives
The Government of India has taken a number of initiatives to boost the insurance industry. Some of
them are as follows:
1. Government of India launches Pradhan Mantri Vaya Vandana Yojana, a pension scheme
which will provide guaranteed 8 per cent annual return to all the senior citizen above 60
years of age for a policy tenure of 10 years.
2. The Union Cabinet has approved the public listing of five Government-owned general
insurance companies and reducing the Government’s stake to 75 per cent from 100 per
cent, which is expected to bring higher levels of transparency and accountability, and
LIC, 70.40%
SBI, 5.10%
ICICI, 4.88%
HDFC, 4.08%
Bajaj Allianz, 2.08%
Max Life, 2.08%
Birla Sunlife, 1.60%
Reliance Life,
1.12%
Others,
8.06%

enable the companies to raise resources from the capital market to meet their fund
requirements.
3. The Insurance Regulatory and Development Authority of India (IRDAI) plans to issue
redesigned initial public offering (IPO) guidelines for insurance companies in India, which
are to looking to divest equity through the IPO route.
4. IRDAI has allowed insurers to invest up to 10 per cent in additional tier 1 (AT1) bonds
that are issued by banks to augment their tier 1 capital, in order to expand the pool of
eligible investors for the banks.
1.4 Future of Insurance Sector of India
The future looks promising for the life insurance industry with several changes in regulatory
framework which will lead to further change in the way the industry conducts its business and engages
with its customers. India with 3.42 per cent penetration rate in the insurance sector offers greater
penetration potential when compared to global average of 6.2 per cent
The country’s insurance market is expected to quadruple in size over the next 10 years from its current
size of US$60 billion.
Demographic factors such as growing middle class, young insurable population and growing
awareness of the need for protection and retirement planning will support the growth of Indian life
insurance.
1.5 Independent Regulatory Body - IRDA
Insurance sector has been opened up for competition from Indian private insurance companies with
the enactment of Insurance Regulatory and Development Authority Act, 1999 (IRDA Act). As per the
provisions of IRDA Act, 1999, Insurance Regulatory and Development Authority (IRDA) was
established on 19th April 2000 to protect the interests of holder of insurance policy and to regulate,
promote and ensure orderly growth of the insurance industry.
IRDA Act 1999 paved the way for the entry of private players into the insurance market which was
hitherto the exclusive privilege of public sector insurance companies/ corporations.
The duties and functions of IRDA include the following:-
a. To issue to the applicant Certificate of Registration, renew, modify, cancel, and
suspend such registration.
b. To ensure protection of Policy-holders’ interest.

c. To specify requisite qualification, code of conduct and Practical Training to for the
Intermediaries / Agents.
d. Promoting efficiency in the conduct of Insurance Business.
e. Promoting and Regulating professional organization connected with Insurance
Business.
f. Specifying Code of Conduct for Surveyor & Loss Assessor.
g. Levying fees and other charges for carrying out purpose of the IRDA Act.
h. Regulating investment of funds of Insurance Companies.
i. Calling information, conducting enquiry, investigation, audit, inspection of insurers
and other Organizations connected with Insurance Business.
j. Control / Regulation of Rates, Terms, Conditions and Advantages of Products offered
by Indian Insurers.
k. Specifying Form and Manner in which Books of Accounts and Statement of Accounts
to be maintained by Insurers and Intermediaries.
l. Regulating Maintenance of Solvency Margin of Insurers.
m. Adjusting dispute between insurer and intermediaries.
n. Supervising the currently assigned functions of Tariff Advisory Committee (TAC).
o. Specifying percentage of Insurance Business to be undertaken in Rural & Social
Sectors.
1.6 Different Types of Life Insurance Policies in India
1. Term Plan – pure risk cover
2. Unit linked insurance plan (ULIP) – Insurance + Investment opportunity
3. Endowment Plan – Insurance + Savings
4. Money Back – Periodic returns with insurance cover
5. Whole Life Insurance – Life coverage to the life assured for whole life

6. Child’s Plan – For fulfilling your child’s life goals like education, marriage, etc.
7. Retirement Plan - Plan your retirement and retire gracefully
Let’s dive deeper to know each plan in detail.
1. Term Life Insurance
Term insurance is the simplest form of life insurance plan. Easy to understand and affordable to buy.
A term plan provides death risk cover for a specified period. In case the life assured passes away
during the policy period, the life insurance company pays the death benefit to the nominee. It is a pure
risk cover plan that offers high coverage at low premiums.
There’s an option to add riders to widen up the coverage.
The death benefit is payable as lump sum, monthly pay-outs, or a combination of both.
There’s no pay-out if the life assured outlives the policy term. However, these days there are
companies offering Term Plans with Return of Premiums (TROPS), where insurance companies
payback all the paid premium amount in case the life assured outlives the term period. But, such plans
are costlier than the vanilla term insurance plan.
Example:
An individual non-smoker male who is looking for a term life plan of Rs.1 crore cover, will cost him
approximately Rs.6, 800 to Rs.10, 500 per year.
AGE TERM SUM ASSURED ANNUAL PREMIUM RANGE
25 years 40 years Rs.1 Crore Rs.6,800 – Rs.10,500
Best known for: High sum assured (coverage) at a low premium.
Benefit of Term Plan: In case of an untimely death of the breadwinner, family is supported with an
enormous amount of money – sum assured, which helps them to replace the loss of the income caused
due to the breadwinner’s death. Moreover, the money could be utilized to pay off loan, monthly
household expenses, child’s education, child’s marriage, etc.

2. Unit Linked Plans (ULIPs)
A unit linked plan is a comprehensive combination of insurance and investment. The premium paid
towards ULIP is partly used as a risk cover (insurance) and partly is invested in funds. One can invest
in different funds offered by the insurance company depending on his risk appetite. The insurance
company then invests the accumulated amount in the capital market i.e. in bonds, equities, debts,
market funds, or a hybrid funds...
Example:
TERM
SUM
ASSURED
ANNUAL
PREMIUM
FUND VALUE
20
years
Rs.2 lakh Rs.20,000
Depending on the fund value at
the time of maturity.
Best known for: Long-term investment option with much more flexibility to invest.
Benefit of ULIP: Invest money as per your risk appetite. You have the option to invest either in
equity, debt or in hybrid funds through the life insurance company with complete transparency.
3. Endowment Plans
Endowment plan is another type of life insurance plan, which is a combination of insurance and
saving.
A certain amount is kept for life cover – insurance, while the rest is invested by the life insurance
company. In an endowment plan, if the life assured outlives the policy term, the insurance company
offers him the maturity benefit. Moreover, endowment plans may offer bonuses periodically, which
are paid either on maturity or to the nominee under death claim. On death, the death benefit is payable
to the nominee.
Endowment plans are also commonly known as traditional life insurance, although, there is an
investment component but the risk is lower than the other investment products and so are the returns.
Example:
TERM
SUM
ASSURED
ANNUAL
PREMIUM RANGE
BONUS
30
years
Rs.10 lakh
Rs.20,000 –
Rs.25,000
Depending on the Bonus at
the time of maturity.

Best known for: Long-term saving option for people with much lower risk appetite for investment.
Benefit of Endowment Plan: Long-term financial planning and an opportunity to earn returns on
maturity.
4. Money Back Life Insurance
Money back plan is a unique type of life insurance policy, wherein a percentage of the sum assured is
paid back to the insured on periodic intervals as survival benefit.
Money back plans are also eligible to receive the bonuses declared by the company from time to time.
This way, policyholder can meet short-term financial goals.
Example:
TERM
SUM
ASSURED
ANNUAL
PREMIUM
RANGE
PERIODIC
RETURNS
MATURITY
BENEFIT
20
years
Rs.5 lakh
Rs.20,000 –
Rs.25,000
A percentage
of Sum
Assured paid
on regular
intervals
Accrued
bonuses/Guaranteed
Money Back +
Coverage
Best known for: Short-term investment product to meet short-term financial goals.
Benefit of Money Back Plan: Short-term financial planning and an opportunity to earn returns on
maturity.
5. Whole Life Insurance
A whole life insurance policy covers the life assured for whole life, or in some cases, up to the age of
100 years. Unlike, term plans, which are for a specified term.
The sum assured or the coverage is decided at the time of policy purchase and is paid to the nominee
at the time of death claim of the life assured along with bonuses if any.
However, if the life assured outlives the age of 100 years, the insurance company pays the matured
endowment coverage to the life insured.
The premiums are higher as compared to term plans. Whole life insurance plans also offer partial
withdrawals after completion of premium payment term.

PREMIUM
PAYING
TERM
SUM ASSURED
(WITH
GUARANTEED
MATURITY SUM
ASSURED)
ANNUAL
PREMIUM
RANGE
MATURITY
BENEFIT
20 years Rs.3 lakh
Rs.10,000-
Rs.15,000
Guaranteed Sum
Assured + non-
guaranteed bonus (if
any) + non-guaranteed
terminal bonus (if any)
Best known for: Life coverage for whole life.
Benefit of Whole Life Plan: Lifelong protection to the insured and an opportunity to leave behind a
legacy for heirs.
6. Child Plan
Child plan helps to build corpus for child’s future growth. Child plans help to build funds for child’s
education and marriage. Most of the child plans provides annual installments or one time pay-out after
the age of 18 years.
In case of an unfortunate event, the insured parent passes away during the policy term - immediate
payment is payable by the insurance company. Some child plans waive off the future premiums on
death of the life insured and the policy continues till maturity.
TERM
SUM
ASSURED
ANNUAL
PREMIUM
RANGE
PERIODIC
RETURNS
MATURITY
BENEFIT
20
years
Rs.18 lakh Rs.1 lakh
Lump sum
pay-outs on
regular interval
Maturity benefit +
guaranteed returns +
non-guaranteed
accumulated bonus (if
any)
Best known for: Building funds for your child’s future.
Benefit of Child Plan: Helps in fulfilling your child’s dream.
7. Retirement Plan
Retirement plan helps to build corpus for your retirement. Helping you to live independently
financially and without worries. Most of the child plans provide annual installments or one time pay-
out after the age of 60 years.

In case of an unfortunate event, life assured passes away during the policy term - immediate payment
is payable to the nominee by the insurance company. Death benefit will be higher of coverage or fund
value or 105% of premiums paid. Vesting Benefit will be payable if the life assured survives the
maturity age. In which case, payout will be fund value which has to be utilized for buying an annuity.
Best known for: Long-term savings and retirement planning.
Benefit of Retirement Plan: Helps in building corpus for retirement.
This is just a simplified guide to different types of life insurance policies.
1.2 Introduction to the Company
About Birla Sun Life Insurance
Aditya Birla Sun Life Insurance Company Limited (ABSLI) is a subsidiary of Aditya Birla Capital
Ltd (ABCL). is one of the leading private sector life insurance companies in India. ABSLI was
incorporated on August 4, 2000, and commenced operations on January 17, 2001. ABSLI is ABSLI
is a 51:49 a joint venture between the Aditya Birla Group and Sun Life Financial Inc., a leading
international financial services organization in Canada.
Formerly known as Birla Sun Life Insurance Company Limited, ABSLI is one of India's leading life
insurance companies offering a range of products across the customer's life cycle, including children
future plans, wealth protection plans, retirement and pension solutions, health plans, traditional term
plans and Unit Linked Insurance Plans ("ULIPs").
As of September 2017, total AUM of ABSLI stood at Rs. 357,314 million. (Source: Life Insurance
Council). ABSLI recorded a gross premium income of Rs. 24,331 million in H1 FY 2017-18 and
registering a y-o-y growth of 21% in First Year Premium and posted a net profit of Rs. 70 Crore.
ABSLI has a nation-wide distribution presence through 433 branches, 6 banc assurance partners, 7
distribution channels, over 80,000 direct selling agents, other Corporate Agents and Brokers and
through its website. The company has over 8,000 employees and more than 16 lac active customers.
The Company offers a complete range of protection solutions to help secure your family's future and
provide financial support for your child's education, wealth with protection solutions, health and
wellness solutions, retirement solutions and savings with protection solutions to help you stay
financially secure in the future with small disciplined savings at regular intervals. ABSLI puts

people's need first and aims to protect what is dear to the customer, with assurance. While, Life
Insurance cannot prevent risk, it can definitely compensate financial losses arising from risk.
Vision, Mission & Values:
Vision:
To be a leader and role model in a broad 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.
Values:
• Integrity : Acting and taking decisions in a manner that is fair and honest.
• Commitment : On the foundation of Integrity, doing all that is needed to deliver value to all
stakeholders.
• Passion : An energetic, intuitive zeal that arises from emotional engagement with the
organization that makes work joyful and inspires each one to give his or her best.
• Seamlessness : Thinking and working together across functional groups, hierarchies,
businesses and geographies.
• Speed : Responding to internal and external customers with a sense of urgency. Continuously
striving to finish before deadlines.
MAJOR PLAYERS IN THE INDUSTRY/COMPETITORS
1. LIC (Life Insurance Corporation)
Life Insurance Corporation of India (LIC) is an Indian state-owned insurance
group and investment company headquartered in Mumbai. The Life Insurance Corporation of
India was founded in 1956 when the Parliament of India passed the Life Insurance of India
Act that nationalised the private insurance industry in India. Over 245 insurance companies
and provident societies were merged to create the state owned Life Insurance Corporation.
2. Reliance Life Insurance
Reliance Life Insurance is a part of the Reliance group. It is one of the partners of Reliance
Capital Ltd which is a Anil Dhirubhai Ambani Group. Reliance Capital is one India's most
dominant private sector financial services companies. They offer insurance products which
help you with savings as well as give you protection.
3. Canara HSBC Life Insurance
Canara HSBC Life is a joint venture of Canara Bank, HSBC Insurance (Asia pacific) &
Oriental bank of Commerce. The Company got its approval from IRDA in June 2008 and from
that commencing its business. They have more than 4100 branches all over India.

4. MetLife Insurance
MetLife One of the fastest growing insurance company in India is MetLife. The company
started its operations in between 2000-2001. They have a range of various products to offer.
5. ICICI Prudential Life Insurance
ICICI Prudential ICICI Bank with Prudential plc, both well known & strong financial
institutions came together in December 2000 to form an insurance company - ICICI Prudential
Life Insurance.
6. Max New York Life
Max New York Life Max India’s leading multi business corporation & New York Life joined
there hands in 2000.The company started there operations in 2001. The company is involved
in Life & health products.
7. Bajaj Allianz
Bajaj Allianz Bajaj who are into iron & steel, finance, insurance & etc and Allianz who
provides financial services when came together they formed Bajaj Allianz Life Insurance
Company.
8. Bharti AXA Life Insurance
Bharti AXA Bharti AXA Life Insurance is a joint venture between Bharti & AXA. The
company started its functionality in December 2006 and they always believe to be a strong
financial institute.
9. HDFC Standard Life
HDFC Standard Life HDFC Standard Life Insurance is a joint venture between Housing
Development Finance Corporation Limited & a Group of Standard Life Plc.The Company
started commencing its business in December 2000.
10. Kotak Mahindra
Kotak Mahindra A joint venture of Kotak Mahindra group & Old Mutual plc is known as
Kotak Mahindra Old Mutual Funds. The Company started commencing its business in 2001.
The company aim is to help customers in making there financial decisions.
11. SBI Life Insurance
SBI Life SBI Life Insurance Company Limited is a joint venture between State Bank of India
and BNP Paribas Assurance. It is present in more than 41 countries across the world. SBI Life
offers a variety of plans in life insurance and pension.
12. TATA AIG

TATA AIG The TATA Group and American International Group Inc together formed Tata
AIG Life Insurance Co. Ltd. Tata Group holds 74% stake in the insurance venture with AIG
holding the balance 26%. They started their operations in April 2001
13. AVIVA Life Insurance
Aviva Aviva, one of UK's largest insurance company and world's 5th largest insurance group.
It was one of the first international insurance company to set up its office in India in the year
1995. They introduced the concept of banc assurance in India.
Key people of organization
Mr. Kumar Mangalam Birla
Chairman
Mr. Donald A. Stewart
Mr. Pankaj Razdan
Chief Executive Officer, MD & Director
Mr. Ajay Srinivasan
Non-Executive Director
Mr. Bishwanath Puranmalka
Mr. Kevin Strain
Mrs. Tarjani Vakil
Independent Director
Mr. Sandeep Asthana
Mr. Colem Freyne
Mr. Haigreve Khaitan

Mrs. Pinky Atul Mehta
Mr. Shobhan Thakore
Management Team
Mr. Pankaj Razdan
MD & Chief Executive Officer, Birla Sun Life Insurance
Dy. Chief Executive – Financial Services, Aditya Birla Group
Mr. Amit Jain
Chief Financial Officer (CFO) & Head – Group Business
Mr. Anil Kumar Singh
Chief Actuarial Officer
Mr. Devendra Singhvi
Chief Investment Officer – Debt
Mr. Deven Sangoi
Chief Investment Officer – Equity
Mr. Parag Raja
Chief Distribution Officer (CDO)
Mr. Rajesh Nambiar
Chief Marketing Officer (CMO)
Mr. Rajesh Varrier
Chief Technology and Digital
Mr. Shailendra Kothavale
Chief Compliance & Risk Officer
Ms. Shobha Ratna
Head – Human Resource & Training

ORGANIZATIONAL STRUCTURE
C.E.O (Chief Executive Officer)
C.F.O (Chief Financial Officer)
C.D.O (Chief Design Officer)
H.O.S (Head of Sales)
Z.M (Zonal Manager)
R.M (Regional Manager)
T.M.S (Territory Managers)
B.H (Branch Head)
B.M (Branch Managers)
B.D.M/B.P (Business Development Manager/Business Partner)
S.A.M (Senior Agency Manager)
A.M (Agency Manager)
A.A.M (Assistant Agency Manager)
I.A (Insurance Advisors)

Birla Sun Life Insurances(BSLI) Services
PROTECTION
Secure your family’s future in this increasingly
uncertain world and don’t leave their dreams to fate.
HEALTH & WELLNESS
Plan and ensure that you spend time with your loved ones
when they need you the most rather than worrying about
medical expenses.
CHILDREN’S FUTURE
Give your child the freedom to pursue his/her real
passion by ensuring that you give him the right
financial support.
RETIREMENT
Plan your retirement well to build a good corpus
because during retired life, income stops but expenses
don’t
WEALTH WITH PROTECTION
Secure your family’s dreams and live through life’s
highs and lows with confidence while you reach your
financial milestones as planned.
SAVINGS WITH PROTECTION
Strike the right balance between living comfortably
today and staying financially secure in the future
with small disciplined savings at regular intervals.

1. Protection Solutions
Ø Secure your family’s future in this increasingly uncertain world and don’t leave their dreams to
fate.
2. Health & Wellness Solutions
Ø Plan and ensure that you spend time with your loved ones when they need you the most rather
than worrying about medical expenses.
3. Children’s Future Solutions
Ø Give your child the freedom to pursue his/her real passion by ensuring that you give him the right
financial support.
4. Retirement Solutions
Ø Plan your retirement well to build a good corpus because during retired life, income stops but
expenses don’t.
5. Wealth with Protection Solutions
Ø Secure your family’s dreams and live through life’s highs and lows with confidence while you
reach your financial milestones as planned.
6. Savings with Protection Solutions
Ø Strike the right balance between living comfortably today and staying financially secure in the
future with small disciplined savings at regular intervals.
BSLI Protector
Plus Plan
BSLI Future
Guard Plan
BSLI Protect at
Ease
BSLI Hospital Plus Plan BSLI Cancer Shield Plan
BSLI Vision Star Plan
BSLI Empower
Pension Plan
BSLI Immediate
Annuity Plan
BSLI Empower
Pension- SP Plan
BSLI
Wealth
Assure Plan
BSLI
Fortune
Elite Plan
BSLI
Wealth
Aspire Plan
BSLI
Wealth
Secure Plan
BSLI
Wealth
Max Plan
BSLI Vision
Life Secure
Plan
BSLI Savings
Plan
BSLI Vision
Endowment
Plan
BSLI Vision
Life Income
Plan
BSLI Vision
Money Back
Plus Plan
BSLI Vision
Endowment
Plus Plan
BSLI
Guaranteed
Future Plan
BSLI Secure
Plus Plan
BSLI Vision
Regular
Returns Plan
BSLI Income
Assured Plan

GEOGRAPHICAL SPREAD
Figure 3: Birla Sun Life Insurance Company Locations
Source: https://www.mapsofindia.com/insurance/birla-sun-life-insurance-india.html

Chapter-2
Review of Assignments

Chapter 2
Review of Assignments
2.1 The job at a glance
The job that I was offered at ABSLI
was the position of Intern in the Marketing and Communication Department. In MCD, all the team
members had to work almost whole the week and sometimes 24/7 and challenging platform now-a-
days. Like the team members, I also had to work almost 7 days a week although the general working
day is 5. On off-days, I had to work from home. I had another intern co-worker with me.
2.2 Responsibilities and Description of the job
This part includes all the responsibilities and detailed description of the job I had to do during my
internship period-
Brainstorming: Our most important task here was to do brainstorming to generate exceptional ‘out
of the box’ ideas for brands and campaigns. we had to find out the best digital marketing campaign
using a game/app for the brand.
Team Work: At ABSLI, employees are into teams. So team-work is really very significant which
needs good working relationship. Intra-relationship as well as Inter-relationship is really important in
an organization which I understood nicely working here at ABSLI. While making good relationship
with other teams, it was another challenge for me. I was not introduced to any of the employees of the
organization whereas interns from other departments had an introductory session. But I made good
relationship people inside my department and other departments within a very short time which I
believe is the result of my communication skill.
Day-to-day Operations: As an Intern, there were some day to day tasks in sales department and most
importantly in the Marketing and Communication Department. Are most remarkable among the day-
to-day tasks.
Query Management: Query management of different client’s facebook pages was one of the biggest
roles of the job. It was really a boring and in the same time an interesting job. I along with the other
intern had to manage mainly the facebook pages of Dummy Product.

Campaign Management: I was really privileged to do some of the great campaign
management and execution of those campaigns. It was another job of mine while my
tenure at Ogilvy Bangladesh. Some of the illustrations of the campaigns that I
managed are given below-
• Develop social media strategy
• Report on activities conducted on daily basis
• Building strategic partnerships with potential clients
• Handling product marketing initiatives and activities
• Campaign management

Chapter 3
Project Objectives
The Primary objective of this report is to understand the roles of digital marketing communications
over the conventional marketing from the customer point of view to find out how digital marketing
communication is helping conventional marketing process.
Objective-1
To understand the insurance sector of India and BSLI services
Understanding of insurance sector is required to know how insurance companies function
and compete among themselves. It will also help to know the contribution of Birla Sun
Life Insurance in the insurance sector by their service offerings to the people.
Objective-2
To position and increase the sales of BSLI policies by understanding the consumer behavior
Right positioning of the Birla Sun Life Insurance brand is required due to increased
competition in the insurance sector. Positioning will be done based on understanding and
analysis of consumer behavior with the help data collected through survey.
Objective-3
To make marketing communication and Advertising strategy for BSLI using Integrated
Marketing Communication
Here, analysis of different marketing communication channels will be done and will find out which
combination of marketing communication channels will work best for the company. Return on
Investment(ROI) on advertisements and advertising channels expenditure will be the deciding
factor for this.

Chapter 4
Action Plan
4.1 Target Market Analysis
In order to reach our customers efficiently, the entire market available was studied and found out
the target market with whom Birla Sun Life Insurance can communicate and serve them with their
services. In this case, TAM is the total insurance market in India. SAM is the segment of total
insurance market in India that Birla Sun Life Insurance has access to. TM is the actual market
segment with whom Birla Sun Life Insurance can communicate and sell its services to its
customers.
Figure 4:Target Market of Birla Sun Life Insurance
Source: https://en.wikipedia.org/wiki/File:TAM-SAM-Market.jpg
• AM or Total Available Market is the total market demand for a product or service.
• SAM or Serviceable Available Market is the segment of the TAM targeted by your
products and services which is within your geographical reach.
• SOM or Serviceable Obtainable Market is the portion of SAM that you can
capture.

To reach TM, 4 pillars of market segmentation was analysed i.e. Geographic, Demographic,
Psychographic and Behavioral. In Geographic, factors like country, region, cities, population,
density etc. was analysed. In Demographic, factors like age, gender, occupation, income, family
size etc. was analysed. In Psychographic, factors like lifestyle, social class, attitudes, personal
values etc. was analysed. In Behavioral, factors like degree of loyalty, usage, occasions, benefits
sought, user status etc. was analysed. The target market for Birla Sun Life Insurance was reached
that consists of customers that share similar characteristics, such as age, location, income and
lifestyle.
4.2 Consumer Behavior Analysis
After reaching TM, consumer behavior towards insurance services in India was understood.
Consumer behavior is the study of how individual customers, groups or organizations select, buy,
use goods and services to satisfy their needs and wants. Understanding consumer behavior was
important to know which services are needed in the marketplace, which are obsolete, and how best
to present the services to the consumers. Consumer behavior is influenced by various factors, it
constantly undergoes changes, it varies from consumer to consumer, product to product and region
to region.
4.3 Integrated Marketing Communication Analysis(IMC)
Then, Integrated Marketing Communication(IMC) was understood and its applicability for Birla
Sun Life Insurance was analysed.
Marketing communication (or Marcom) consists of the messages and related media used to
communicate with a market. Various IMC channels are T.V, Newspaper, Magazines, Radio,
Billboards, Online advertising, Social Media etc. Integrated Marketing Communication(IMC) was
centered on aligning organizational communications with the needs of customers and employed
large datasets, statistical analysis and Return on Investment (ROI) models to make marketing
communication more accurate and accountable.

Figure 5: Integrated Marketing Communication channels
Source: http://www.faycreative.co.ke/article/breaking-the-tradition-personalised-
imc-plan/
Marketing communications can be divided into two periods-
Traditional Marketing communications (before the Internet) and Integrated Marketing
Communications (after the Internet).New ways of exchange of information and new categories of
interaction are possible because of the invention of the Internet and corresponding digital
medium. Determining on the way a business in the market uses integrated communications, the
business itself can change the aspects of integrated communicational marketing as it spreads to
targeted audience like
1. Traditional marketing Digital market
2. Mass media Specialized media
3. Low accountability in market spending High accountability in market spending
4. Limited marketing connectivity Pervasive marketing connectivity
5. Mass advertising Niche marketing
4.4 Why research on Integrated Marketing Communication(IMC) ?
It is essential for Birla Sun Life Insurance to promote their brands well among the end-users not
only to outshine competitors but also survive in the long run. Brand promotion increases awareness

of products and services and eventually increases their sales, yielding high profits and revenue for
the organization.
To understand integrated marketing communication, let us first understand what does brand
communication mean?
Brand communication is an initiative taken by organizations to make their products and services
popular among the end-users. Brand communication goes a long way in promoting products and
services among target consumers. The process involves identifying individuals who are best suited
to the purchase of products or services (also called target consumers) and promoting the brand
among them through any one of the following means:
§ Advertising
§ Sales Promotion
§ Public Relation
§ Direct Marketing
§ Personal Selling
§ Social media, and so on
4.5 Analysis of Integrated Marketing Communication(IMC) channels
Ø T.V
Television advertising is the most popular advertising option. It is popular because it has the lowest
cost per reach among all other media verticals. Rates for advertising in television in India are
quoted in terms of advertising rate per 10 sec. By placing an ad in television, a brand can reach
out to complete India in a single instance and in multiple times. TV ad engages with two senses of
humans, eyes and ears, and is more impactful than other formats. There are more than 1000
Television channels in India. India also has a strong network of cable and DTH
TV. Media options available for advertising in TV
are video ads, scrollers,
aston bands, teleshopping and L Bands.
• Feasibility Study:
• All the channels were divided into several segments i.e. Entertainment, Movies and Music,
Sports, News, Spiritual, Kids, Cable network, etc.
• Selected segment:
1. News
2. Sports
3. Music and Movies
4. Entertainment
Cons
Overexposure of
advertisement
One way
communication
Low recall
Pros
Access to vast
audiences
Fusion of sight,
sound and
motion
Convenient and
effective

• Detail Analysis:
• For each segment, data was found out about the reach of channels and rate for a 10 second
time slot. The data is presented here under.
Sports:
Table-1
Entertainment:
Table-2
Movies and Music:

Table-3
News:
Table-4
• Now, few channel networks on basis of their popularity, viewership and taste and
preferences were selected according to the insurance sector, cost to viewership ratio.
• Channels that were selected are mentioned here after.
Table-5
• Calculation of Investment:
Total TVC Investment would be:
Total amount for all channels x Total seconds of ad x Slots per day x 30 Days
= 50,000 x 2 x 20 x 30

= Rs.6,70,00,000
• Calculation of Returns:
Taking conversion rate as 0.01% as per the data available by research.
Returns = Total Viewership x 0.0001 x Average Premium rate
= 80,57,83,000 x 0.0001 x 5000
= Rs.40,28,91,500
Profit = Returns – Investments
= Rs.40,28,91,500 –Rs.6,70,00,000 = Rs.33,58,91,500
Ø Newspaper
Newspapers advertising have the largest spend share among total marketing budget. The popular
formats to advertise in Newspapers are Display ads and Classified ads. Advertising Rates for
Newspaper ads depends on the readership and page number. Newspaper ads in India are largely
sold through Newspaper advertising agency. INS is an accredited body for Newspaper advertising
agencies in India.
• Circulation:
Times of India- 9,92,600
Hindustantimes- 9,85,000
Economic Times- 1,40,000
Navbharat Times- 4,80,000
Table-6
Pros
In-depth
coverage
Mobility
Cheapest in per
capita viewing
Cons
Short shelf life
Expensive Ad
space
No audio-
video element

Table-7
Table-8
Table-9
Ø Magazine
Magazine advertising has been used by advertisers to reach out to their consumers for a long time.
Advertising cost is one of the lowest to reach out to a niche segment. Advertising in magazine
gives an advertiser the capability to reach out to his consumers in a well-defined context. Print ad
format of magazines advertising also gives an opportunity to engage with readers using interesting
creative content. The popular magazine categories for advertising in India are interior design
magazines, in-flight magazines and current affairs magazine.
Pros
Ads look
better
High reader
involvement
More shelf
life
Cons
Longer lead time
High cost of
space and ad
layout
Limited reach

• Circulation and Readership:
India Today= 4,85,000 and 16,40,000
Business Today= 1,65,000 and 9,00,000
Businessworld= 1,85,000 and 5,55,000
Women’s Era= 2,30,000 and 7,00,000
Table-10
Table-11
Table-12
Table-13
Ø Radio
FM Radio Advertising in India started with the launch of Radio City Bangalore, on July 3, 2001
as India's first private FM radio station. All India Radio(AIR) broadcast radio content and radio
ads in India. In India, Radio Advertising accounts for less than 5% of marketing spend.There are

approximately more than 80 FM stations across cities in India. Large FM Radio markets are
Bangalore, Delhi, Chennai, Kolkata and Mumbai.
• Detailed Analysis:
• Considered Radio stations:
Table-14
• Based on popularity and estimated returns on investment, selected networks are written
below. Viewership is calculated from market share by calculating market share with total
population of Delhi.
Table-15
• Calculation of Return on Investment:
Investment= Total Amount for all stations x Duration x Slots per day x 30 Days x Number of Ads
= 2700 x 2 x 2 x 30 x 2
= Rs.6,48,000
Return= Total Viewership x Conversion rate (Approx.) x Policy Average Amount
= 45,36,220 x 0.0001 x 5000
=Rs.22,68,110
Profit= Return – Investment
= 22,68,110 - 6,48,000
= Rs.16,20,110
Pros
More
affordable
Low cost
High
frequency
Cons
Not good for
all products
Short span
life
No visual
involvement

Ø Billboard
Billboard advertising is highly prominent and does not require the consumer to do anything to
access it. No tune in or click onto it or turn a page. Most people regard it as less intrusive than
other methods of advertising. Lot of billboard advertising engages the consumer. In locations
where it sits in front of a large audience i.e. on public transport or at waiting places, it can be seen
as a welcome distraction. To make a big impact in a local area, billboard advertising can raise the
company's brand image and deliver results. Outdoor ads put the message right in front of potential
customers.
• Cost of each flying balloon ad= Rs.60000(Max)
• Total= 60000*4= 2,00,000+ 40,000(operational cost) = Rs.2,40,000(Max)
• Locations and Reach (Monthly)
Table- 16
• The data is based on the research of various advertisement agencies in Delhi and
7 places in Delhi has been chosen, where billboards will be put.
Pros
Easy visual
references
Noticeable
and attractive
24/7
advertising
Cons
Visibility issues
Provides limited
information
Brief exposure
time

Table-17
Metro Digital Billboard across Yellow Line
Total Commuters = 40 lakhs daily (Average)
Tapping on 5 major Metro Stations
• Rajeev Chowk
• Central Secretariat
• Mandi House
• Kashmeri Gate
• Sikandarpur
Yellow Line
30 lakhs per month per station (Average)
Total = 1.5 crore/month (for major 5 stations)
Digital Billboards
7-8 lakhs at peak hours per week
Total= 1.5 crores approx. per month for 5 stations
Total commuters per day= 18 lakhs for 5 stations (approx.)
• IPL Commercial on Decision Board
• Total viewers in IPL 2016 = 297 million(Average)
• Total viewers in Delhi NCR = 7.8 million(Average)
• While we are sponsoring ‘NOT OUT’ in Decision Board
it would cost 3.15 lakhs per time in a day.
• Apart from the Media Channels viewers, it taps avg. 30000 spectators per match.
• Total Match = 58
• Average Time on Decision Board = 4 times

4*3.15= 1,26,000 per match
• Whole IPL = 1,26,000*58= 7,308,000 cr.
For Associate Sponsorship
5.75/lakhs per 10 sec.
Benefits from IPL billboard advertisement
• Approx. 8 million Delhi NCR coverage
• Apart from that 30,000 per match spectator also get tapped
• Strong brand recall
Ø Online Advertising
Digital advertising spends were about 12 per cent of the total advertisement spends in India. 40%
of BFSI overall spends were on digital, followed by e-commerce, telecom, and travel. Spends on
video ads on Youtube, showed huge gains in past years and accounted for 17 percent of the overall
ad spends in the digital space. With Digital India push, increase in mobile penetration and
increased adoption of mobile internet, online advertisements is expected to gain further. Majority
of digital ad spend in India goes to Google, Facebook and other social media networks. Other
popular digital advertising options in India are news websites like Timesofindia.com, sports
channels like cricinfo.com, finance sites like moneycontrol.com among many others.
Impressions per month:
Hotstar= 20,00,00,000
Business Insider= 6,10,00,000
Moneycontrol= 2,70,00,000
Table-18
Pros
Extensive
coverage
Strong and real
time interaction
Customization of
ads
Cons
Lack of internet
access
Clutter of
advertisements
Use of Ad-
blockers

Total cost:
Hotstar= Rs.4,40,00,000
Business Insider= Rs.1,00,65,000
Moneycontrol= Rs.62,10,000
Ø Social Media
Social media advertising is a paid internet marketing that utilizes social networking websites as a
marketing tool. The goal of social media advertising is to produce content that users will share
with their social network. It is useful for a very targeted audience. It works well for companies
with a limited budget and an audience that could be easily reached. Social Media advertising create
striking advertising experiences that capture interest through creativity and unpredictably.
• Youtube.com
• Insurance companies advertisements and their total number of views
Table-19
Average views expected = 10,99,476
• Facebook.com
Cons
Negative
feedback
Potential for
embarrassment
Time intensive
Pros
Reach to large
audiences
Increases brand
loyalty
Uncovers
valuable insights

Table-20
• Cost and Revenue of Prank Campaign:
Samples of 6 such prank videos were taken and their views were:
Table- 21
• YouTube provides an average Rs. 150 per 1000 views
• Cost includes that of Camera, Prank Artist, Editors and others
• Revenue= Rs.1,50,000 (Approx.)

4.6 Objective: The major objective is to connect with your target audience through some
innovative advertisement and campaigns. Generally, products and sales should not be talked about
in quarter April to June.
Mother’s Day campaign- Under this campaign we decided that the company would decorate the
new born babies room in hospital of Delhi-NCR for all the babies which are born on Mother’s Day
and would surprise those respective families. On average 10 babies were taken for each hospital
Cost
Decoration per room 5000
Hospital Donation 100000
Cost of 5 hospital 500000
Cost of 5*10 rooms 250000
Total 750000

Chapter 5
SWOT Analysis
5.1
Strength –
• Multi-channel distribution and one of the largest distribution networks in India.
• Implementing Six-Sigma process.
• Customer centric products and services.
• Training process of the company is very strong.
• Different plan for different peoples.
• Superior investment and risk management framework.
• Transparent functioning
• Customer satisfaction
Weakness –
• Company does not penetrate on the rural market at a time.
• There is no plan for the lower income group.
• Fees for the advisor is high than the other company.
• Number of advertisements is very less
Opportunities –
• Insurance market is very big, where company can expand its horizon in insurance industry.
• Though good investment and insurance it is easy to top Indian customers.
• The huge insurance market (77%) is left so company has opportunity to expand our
products.
• Huge potential in rural market
• Create awareness about life insurance
• Build brand trust through investment in promotional activities
•
Threats –
• OLD HABITS DIE HARD’: It’s still difficult task to win the confidence of public towards
private company.
• The company is facing major threats from LIC-which is an only government company.
• Major Competitor at a Glance LIC (Life Insurance Corporation)
• Stiff competition from LIC
• Entry of new firms in insurance sector
• Government insurance schemes being launched at very low rates

5.2 PORTERS’S 5 FORCES ANALYSIS
Competitive Rivalry
• Insurance industry is becoming highly competitive with 53 players
operating in the industry
• Companies are competing on price and also using low price and high
returns strategy for customers to lure them
Threat of New Entrants
• Other financial companies can enter the industry
• Overall threat is medium given that entry is subject to license and
regulations
Substitute Products
• Similarity in services makes switchover a potent threat
• Investment oriented customers have switched to other avenues.
Bargaining Power of Suppliers
• Supplier being the distributor or agent have high bargaining power because
they have customer database and can influence customers in making choices
Bargaining Power of Buyers
• Bargaining power of customers especially corporate is very high because
they pay huge amount of premium

Chapter 6
Findings
6.1 Interpretation of survey responses
It’s a survey on Integrated Marketing Communication(IMC)/ Advertising Channels and a research
to identify appropriate IMC/Advertising channels for Birla Sun Life Insurance company.
Figure-6
1. Looking at the responses of people, most of them are aware of insurance companies like
LIC(96.7%), HDFC Life(90%) and SBI Life Insurance(76.6). This represents the effective
use of IMC channels by the top 3 insurance companies in Delhi. So, now Birla Sun Life
Insurance(66.7%) has to catch up to top 3 position by making a good marketing
communication strategy to reach more people in less time and cost.

Figure-7
2. Looking at the responses of people, most of them knew the presence of insurance
companies through T.V(96.7%), Newspaper(73.3%) and Online advertisement(70%).
This represents insurance advertisements were mostly shown to people using these top 3
advertising channels, which Birla Sun Life Insurance somehow failed to use them to
spread awareness about their company presence in Delhi.
Figure- 8
3. Looking at the responses of people, most of them find advertising mediums like
T.V(76.6%), Online advertisement(46.6%) and Social Media(40%) most appealing. This

represents Birla Sun Life should invest their money on these advertising channels as
people love to watch advertisements on these channels the most.
Figure-09
4. Looking at the responses of people, again most of them are exposed to advertising
mediums like T.V(76.7%), Social Media(73.3%) and Online advertisement(56.7%). This
represents Birla Sun Life should capitalize on these advertising mediums as much as
possible to spread awareness of the company and also promote their insurance services to
people in Delhi.
Figure- 10

5. Looking at the responses of people, most of them like humorous advertisements(73.3%).
This represents Birla Sun Life Insurance should stop making emotional
advertisements(56.7%) and rather it should focus on making advertisements that has fun
element and give people a joyful feeling.
Figure-11
6. Looking at the responses of people, most of them are comfortable with advertisements
shown in both(66.7) online and offline advertising channels rather than focusing only on
online(20%) or offline(13.3%) advertising channels. So, Birla Sun Life Insurance should
use appropriate combination of both channels to advertise about their company and their
insurance services.
Figure-12

7. Looking at the responses of people, most of them have outrightly rejected the traditional
advertising channels. This represents most people like modern advertising
channels(93.3%) where creative and innovative advertisements are shown to them. So,
Birla Sun Life Insurance should focus on creating quality content and creative
advertisements to capture the attention of new age customers. Creative advertisements
also help in advertisement retention in customers mind easily.
Figure- 13
8. Looking at the responses of people, most of them like interactive advertisements(60%).
This represents people like advertisements that has audio capability and also visually
appealing. So, Birla Sun Life Insurance should make advertisements that people can
connect easily and this is possible by showing interactive advertisements in various digital
advertising channels.

Figure- 14
9. Looking at the responses of people, most of them prefer the ideal length of video
advertisements should be less than 30 seconds(63.3%). This represents people have less
time to watch a particular advertisement video. So, Birla Sun Life Insurance should try to
shoot and show video advertisements which is less than 30 seconds instead of showing a
long video(>2 minutes), where people lose their patience and skip the advertisement.
Figure- 15
10. Looking at the responses of people, they have no issue seeing advertisements on anyday
of the week(70%). This represents that there is no point in spamming lots of
advertisements to people on weekends, which many companies do in India. So, Birla Sun
Life Insurance should stop following the suit of other companies and show their
advertisements to people on any suitable days of the week.

Figure- 16
11. Looking at the responses of people, most of them prefer seeing advertisements at
night(50%) and some during evening(30%). This represents people don’t have time to see
advertisements during any other time of the day may be due to their busy work schedule.
So, Birla Sun Life Insurance should run most of their advertisements at evening and night,
so that most people can see them with patience.
Figure- 17
12. Looking at the responses of people, most of them prefer seeing a particular advertisement
of the company once a day(43.3%) or few times a day(40%). This represents people dislike
seeing the same advertisements of the company frequently in a day. They feel only
advertising few times a day is enough to make them decide whether they want to purchase
the product of the company or not. So, Birla Sun Life Insurance should stop spamming

advertisements to people on various advertising channels instead show them maximum 1-
3 times a day.
Figure-18
13. Looking at the responses of people, it is seen that men(76.7%) are more interested in
insurance products than female(23.3%). This represents that men in Delhi are more likely
to take insurance product for themselves and for their family than females. So, Birla Sun
Life Insurance should target advertisements more towards men than females. This will
help the company reach their advertisements to right people.
Figure- 19
14. Looking at the responses of people, young earning people in India between age 18-25
years(46.7%) and even people of age 26-35 years(40%) are interested in insurance
products. This represents that people in broad age bracket ranging from 18-35 years in

Delhi are more likely to invest in insurance products. So, Birla Sun Life Insurance should
run and target advertisements towards the people in the age bracket 18-35 years.
Figure- 20
15. Looking at the responses of people, most people who are service holders(70%) prefer
insurance products than people in other professions. This represents that service holders
in Delhi are more concerned about themselves and their families and more likely to invest
in insurance products. So, Birla Sun Life Insurance should focus on service holder people
and target advertisements towards them.

Chapter 7
Recommendations
According to the analysis and findings, there are some recommendation for the
marketers based on the study-
1. Marketers should dosomething thatcanmakethefemale users encouraged
to use digital media which may increase the number of female user base.
2. The businesses that are still thinking of doing only conventional
marketing should start investing in digital media and make their
communications more effective. Birla SunLife Insurance needs to work
on their Social Media Strategy, which includes increasing customer
interaction on Facebook, daily or weekly updates on twitter which also
involves “Hashtags” in accordance with CSR campaign. Social Media
Marketing in today’s world is the most cost effective solution for
customer engagement. Taking small but immediate steps in social media
marketing will gradually benefit the company in the long run.
3. Digital marketing communication is not so costly than any other media
but content management in digital marketing communication is really
very important. So marketers should give more emphasize on content
management and integrate that with conventional media and invest
effectively both in digital and conventional media.
4. Increasing awareness level by increasing number of hoardings in prime areas
such as Bank Square Sector, railway station, bus stand and industrial area.
5. Put up ATM’s in different areas so that premium can be collected across the
country.
6. There should be a particular product, which can be termed as Fixed Deposit
Insurance product, where life insurance policy can act as a fixed deposit for the
customer, which can be encased whenever required up to a certain percentage
of sum assured.
7. The company should cover various risks in one policy with same
premium

8. Birla Sun Life Insurance should go for a mass publicity campaign called
“INSURANCE FOR ALL” for a week, inviting people in Delhi NCR to educate
them about insurance services and how Birla Sun Life Insurance is helping
bridge the gap between people’s dream with their future without making them
face any financial uncertainties in their path to success. This will help Birla Sun
Life Insurance build a good brand image in public and spread awareness of
insurance among people at the same time.
9. Birla Sun Life Insurance should target the new generation of people who have
just started earning. So, the company should use T.V, Online advertisement and
Social Media advertisement as an appropriate Integrated Marketing
Communication(IMC)/Advertising channels as these people are most exposed
these advertising channels and also find them appealing. This would help the
company reach more people in less cost and generate more revenue in return.
10. Birla Sun Life should run fewer advertisements everyday on T.V, Online
websites and Social Media with main focus during evening and night where
most people watch advertisements with patience. This will help the company
reach their advertisements to maximum people in less time period and will also
save company’s unnecessary wastages in advertising expenditure.
LEARNINGS
Ø During the study to be found that majority of people are aware of life insurance sector.
Ø During the survey, it was observed that major source of information for consumer are
television, newspaper, internet and least preference are given to magazines, agents and friends.
Ø Attractive schemes and brand image are the most important factor that influences the
buying behavior of the consumers.
Ø Majority of respondents will shift to any other insurance company. People are not satisfied
with the opted insurance.

Ø It was found that the reason for the dissatisfaction of consumer is high premium, delay in claim
settlement and poor after sales service.
Ø The insurance sector companies have to create a more vibrant and competitive industry, with
greater efficiency, choice of products and value for customers.

References
References
Media Reports, Press Releases, Press Information Bureau, Union Budget 2017-18, Insurance Regulatory
and Development Authority of India (IRDA)
https://lifeinsurance.adityabirlacapital.com/about-us/company-profile.aspx
Insurance sector to get boost from new insurance bill
http://www.rsec.co.in/market-updates/news-detail?coid=366947
Insurance sector in India: challenges and opportunities
https://www.slideshare.net/sumanjeetkaurgill/insurance-sector-in-indiachallenges-and-
opportunities
Indian Insurance Industry Overview & Market Development Analysis
https://www.ibef.org/industry/insurance-sector-india/showcase
RDAI Approved Insurance Web Aggregator
https://www.myinsuranceclub.com/articles/insurance-industry-in-india-e28093-an-overview
The Investment Division, PLI is headed by the Chief Investment Officer, PLI
http://www.postallifeinsurance.gov.in/html/aboutus.html
The article is Written By “Prachi Juneja” and Reviewed By Management Study Guide Content Team. MSG
Content Team comprises experienced Faculty Member, Professionals and Subject Matter Experts.
https://www.managementstudyguide.com/integrated-marketing-communications.htm
TAM, SAM and SOM are acronyms that represents different subsets of a market.
https://www.thebusinessplanshop.com/blog/en/entry/tam_sam_som

Annexures
Advertisement posters made during internship for Birla Sun Life Insurance

BIRLA SUNLIFE INSURANCE BSLI. SUMMER INTERNSHIP PROJECT

More Related Content

What's hot

Similar to BIRLA SUNLIFE INSURANCE BSLI. SUMMER INTERNSHIP PROJECT

More from Chandan Sah

Recently uploaded

BIRLA SUNLIFE INSURANCE BSLI. SUMMER INTERNSHIP PROJECT