A market research report presentation on people's preferences towards various insurance policies in India

1. MARKETING RESEARCH
PRESENTATION 2
INSURANCE POLICY
BY –
VARUN NIGAM ROLL NO 1375
SNEHA KUMARI ROLL NO 1366
SURAJ CHUTE ROLL NO 1370
RISHABH MAHESHWARI ROLL NO 1351
BULU CHOWDARY ROLL NO 1380
RAVI .L. KUNCHIKORVE ROLL NO 1349

2. INSURANCE POLICY
TOPIC :
“ TO DETERMINE CUSTOMER
AWARENESS AND PREFERENCE
OF PEOPLE TOWARDS VARIOUS
INSURANCE POLICIES”.

3. PROCESS OF RESEARCH
HYPOTHESISOBJECTIVES QUESTIONAIRE
REPORT COMMUNICATIONCONCLUSION

4. OBJECTIVES
• TO UNDERSTAND CUSTOMER PURPOSE FOR INSURANCE POLICY.
• WHAT WAS THE REASON PEOPLE PREFER TO BUY LIC?
• WHAT ARE THE TYPES OF POLICY THEY BUY?
• WHICH ARE THE INSURANCE COMPANIES IN THE MARKET?

5. OBJECTIVES
• HOW MUCH MONEY THEY SAVE?
• HOW MUCH AMOUNT THEY INVEST?
• WHAT INSTALLMENT, TAX, INTEREST RATE?
• WHAT ARE THE SOURCES OF AWARENESS?

6. HYPOTHESIS
• PEOPLE BUY INSURANCE POLICY AS AN INVESTMENT
• PEOPLE IN GENERAL PREFER ONLY GOVERNMENT
INSURANCE POLICY
• PEOPLE BUY INSURANCE POLICY BASED ON BRAND NAME

7. QUESTIONAIRE
• WHICH TYPE OF INSURANCE POLICY YOU PREFER?
• WHICH POLICY YOU PREFER THE MOST GOVERNMENT
OR PRIVATE?
• WHICH COMPANY POLICY YOU HAVE?
• WHICH INSURANCE CATEGORY DO YOU FIND MEANINGFUL TO INVEST IN?

8. • HOW MUCH PREMIUM DO YOU PAY FOR YOUR INSURANCE POLICY
AND FOR HOW MANY YEARS?
• AFTER RETURNS FROM INSURANCE POLICY WHICH OTHER
INVESTMENT OPTION DO YOU CONSIDER?
• HOW DID YOU COME TO KNOW ABOUT THE POLICY?

9. SAMPLING DESIGN
• CUSTOMER SEGMENT
1. WORKING PEOPLE
2. STUDENTS
3. BUSINESSMEN

10. • SAMPLE SIZE – 116
• LOCATION- KARJAT AND THANE
• DATA COLLECTION MODE - PRIMARY DATA

11. COMMUNICATION
• DOOR TO DOOR
• TIMING
• LOCAL LANGUAGE
• SIMPLE WORDS

12. LEARNING
• PROTECTING PRIVACY
• LACK OF AWARENESS
• GOVERNMENT POTENTIAL
• AGENT TRUSTWORTHINESS

13. CONCLUSION
INVESTMENT
50.9%
SECURITY
23.3%
DO NOT BUY
12.1%
TAX SAVING
10.3%
PURPOSE OF BUYING

14. CONCLUSION
TOP 3 INSURANCE COMPANIES
LIC – 63.8%
BAJAJ ALLIANZ – 4.3%
BIRLA SUN LIFE – 3.4%, OTHERS – 3.4%
WOULD NOT BUY – 15.5%

15. CONCLUSION
IMPORTANCE OF BRAND NAME
BRAND CUSTOMER SERVICE
59.5% 44.8%
MATURITY VALUE
41.4%

16. CONCLUSION
PREFERRED COMPANY
GOVERNMENT COMPANY – 86.2% PRIVATE COMPANIES – 11.3%

17. CONCLUSION
BRAND * SERVICE Crosstabulation
WEIGHTAGE
SERVICE
Total1.00 2.00 3.00 4.00 5.00
BRAND
1.00 4 0 0 1 1 6
2.00 1 1 2 1 0 5
3.00 0 1 7 4 2 14
4.00 0 0 2 13 7 22
5.00 1 2 8 16 42 69
Total 6 4 19 35 52 116
PEOPLE BELIEVE THAT GOOD
INSURANCE SHOULD GIVE A
GOOD CUSTOMER
SERVICE

18. CONCLUSION
INSURANCE * PREFERED COMPANY Crosstabulation
PREFERED COMPANY
TotalBAJAJ BIRLA ICICI LIC NA OTHERS
INSURANCE
NO 0 0 1 14 3 0 18
YES 1 1 2 86 0 8 98
Total 1 1 3 100 3 8 116
MOST PEOPLE WHO BUY AND WHO DO NOT BUY INSURANCE PREFER LIC

19. THANK YOU