This document discusses consumer perceptions of insurance in India. It begins by defining insurance and describing its evolution in India. It then discusses the different types of insurance and why people purchase insurance. It lists some of the major insurance companies in India and notes that Indians can be emotional about money. It analyzes why many Indians avoid insurance, such as a lack of interest, distrust of agents/brokers, and lack of accurate information. It provides recommendations for improving consumer understanding and concludes by emphasizing the importance of term life insurance protection.

1. Consumer perception towards insurance.PRESENTED BY, GAURAV H. NANJANIPGDBM. BATCH 09-11RIZVI MANAGEMENT INSTITUTE.BANDRA (w) MUMBAI

2. What is Insurance?Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of as a guaranteed small loss to prevent a large, possibly devastating loss.

3. Insurance is a mechanism that helps to reduce the effect of adverse situations.Evolution1818 - Oriental Life Insurance Company.

4. 1823 - Bombay Assurance Company.

5. 1870 - Bombay Mutual Life Assurance Society 19th January, 1956 nationalizing the Life Insurance sector and Life Insurance Corporation came into existence in the same year.

6. The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India with effect from January 1, 1973. TypesofInsurance Life insurance Non - Life Insurance(general insurance) Property (eg. Builders risk insurance) Aviation(eg. Private aircraft insurance) Marine (eg. Marine hull insurance) Miscellaneous (eg.Purchase insurance)

7. Why Insurance?Everyone thinks “I am Young and Healthy”……So Why Insurance???Insurance provides you with blanket cover and protects you from any thing that no one can anticipate.Assets are insured, because they are likely to be destroyed through accidental occurrences.Compensating the loss.Family will be protected.Your Children’s Education Fund.

8. When Insurance?Early age.Healthy.Earning.Family.AssetsInvestmentBusiness

9. Players in Indian market.1. Bajaj Allianz Life Insurance Company Limited

10. 2. Birla Sun Life Insurance Co. Ltd

11. 3. HDFC Standard Life Insurance Co. Ltd

12. 4. ICICI Prudential Life Insurance Co. Ltd.

13. 5. ING VysyaLife Insurance Company Ltd.

14. 6. Life Insurance Corporation of India

15. 7. Max New York Life Insurance Co. Ltd

16. 8. Met Life India Insurance Company Ltd.

17. 9.Kotak Mahindra Old Mutual Life Insurance Limited

18. 10. SBI Life Insurance Co. Ltd INDIAN PERCEPTION.We are emotional with MoneyMost of the people concentrate on number and explicit data .Burden of payment of regular premium.