Bajaj Allianz General Insurance

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CHAPTER 1
Introduction
Introduction to Bajaj Allianz General Insurance Company Limited (BAGIC) :
Company Profile Bajaj Allianz General Insurance Company Limited (BAGIC) is a joint
venture between Bajaj Finserv Limited and Allianz SE, with the former presently holding 74%
of the paid up capital of Rs 110 Crores. The Allianz group is one of the strongest players in the
global insurance industry, with an established presence in the property and casualty (P&C), life
and reinsurance businesses. Allianz SE presently carries an Aa3 rating from Moody’s for
insurance financial strength. Apart from the general insurance venture, Bajaj Finserv Ltd. and
Allianz have also joined hands for a life insurance joint venture.
BAGIC is mainly present in the motor insurance and health insurance segments which
accounted for 58% and 15% respectively of total Gross Direct Premium Written (GDPW) in
9MFY2016 ( 56% and 15% of the GDPW respectively in FY2015) while the balance, is spread
across fire, marine, crop etc. segments. During FY2015, BAGIC’s strong growth (of 15.8%
YoY) in GDPW was driven by the crop insurance segment, although partly cushioned by the
slower in the group health segment and persistent dullness in the motor insurance segment..
BAGIC’s distribution network maintains a healthy balance across direct agents, bank
assurance, brokers and alternate channels such as online, and tele-calling. Over the last few
years, The Company’s investment portfolio continues to satisfactorily comply with all the
regulatory requirements across asset classes/instruments. BAGIC does not have any equity
exposure on its books. The company has been maintaining solvency ratios at much higher
levels than is mandated by regulations.
1.1 Definition of insurance:
1.Justice Lawrence defines "Insurance is contract by which the one party, in consideration of
price paid to him adequate to the risk, becomes security to the other that he shall not suffers

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loss, damage or prejudice by the happening of the perils specified to certain things which may
be exposed to them.
2. Riegel and miller defines "Insurance is social device whereby uncertain risks of individuals
may be combined in group and thus made more certain, small periodic contribution by the
individual providing a fund out of which those who suffer loss may be reimbursed.
1.2 Ratonales of the study :
The project titled as ‘The Scope and Market Potential for SME’s in Pune’ was carried out in
Pune, for Scope of insurance in Educational institutes which is a compound package that
provides multi beneficiary facilities for educational institutes and Students in the educational
Institute. The project is to understand the different areas of competitive advantage in
Educational Institute. The basis to study potential market was formed by gathering data majorly
by two means, i.e. through websites and through field work which included paying visits to
Educational Institutes Directly and having face-to-face interaction with them and
understanding their perceptions about Insurance and about Bajaj too.
A questionnaire was designed and was used as a data collection instrument to record responses
from the respondents. The survey revealed requirement of various additional facilities
including core facilities for Educational Institutes that were not existing in most of the
insurances by the Insurance companies. The survey also threw light whether there is a potential
in the market for this type of insurance or not. The analysis helped in identifying the sectors/
domains/ customers that use or may use this product.
1.3 What is industry all about ?
The insurance industry of India consists of 53 insurance companies of which 24 are in life
insurance business and 29 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

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Insurance market include agents (individual and corporate), brokers, surveyors and third party
administrators servicing health insurance claims.
Out of 29 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.
Market Size :
 Government's policy of insuring the uninsured has gradually pushed insurance
penetration in the country and proliferation of insurance schemes are expected to
catapult this key ratio beyond 4 per cent mark by the end of this year, reveals
the ASSOCHAM latest paper.
 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.
 During April 2015 to March 2016 period, the life insurance industry recorded a new
premium income of Rs 1.38 trillion (US$ 20.54 billion), indicating a growth rate of 22.5
per cent. The general insurance industry recorded a 12 per cent growth in Gross Direct
Premium underwritten in April 2016 at Rs 105.25 billion (US$ 1.55 billion). The life
insurance industry reported 9 per cent increase in overall annual premium equivalent in
April-November 2016. In the period, overall annual premium equivalent (APE)- a
measure to normalize policy premium into the equivalent of regular annual premium-
including individual and group business for private players was up 16 per cent to Rs
1,25,563 crore (US$ 18.76 billion) and Life Insurance Corporation up 4 per cent to Rs
1,50,456 crore (US$ 22.48).

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 India’s life insurance sector is the biggest in the world with about 360 million policies
which are expected to increase at a Compound Annual Growth Rate (CAGR) of 12-15
per cent over the next five years. The insurance industry plans to hike penetration levels
to five per cent by 2020.
 The country’s insurance market is expected to quadruple in size over the next 10 years
from its current size of US$ 60 billion. During this period, the life insurance market is
slated to cross US$ 160 billion.
 The general insurance business in India is currently at Rs 78,000 crore (US$ 11.44
billion) premium per annum industry and is growing at a healthy rate of 17 per cent.
 The Indian insurance market is a huge business opportunity waiting to be harnessed.
India currently accounts for less than 1.5 per cent of the world’s total insurance
premiums and about 2 per cent of the world’s life insurance premiums despite being
the second most populous nation. The country is the fifteenth largest insurance market
in the world in terms of premium volume, and has the potential to grow exponentially
in the coming years.
Investments
The following are some of the major investments and developments in the Indian insurance
sector.
 New York Life Insurance Company, the largest life insurance company in the US, has
invested INR 121 crore (US$ 18.15 million) in Max Ventures and Industries Ltd for a
22.52 per cent stake, which will be used by Max for investing in new focus areas of
education and real estate.
 New York Life Investments, the global asset management division of New York Life,
along with other investors like Jacob Ballas, will own a significant minority ownership
in Centrum Capital by being one of the leading global investors in buying the available
30 per cent stake worth US$ 50 million of Centrum Capital.

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 Max Life Insurance Co Ltd and HDFC Life Insurance Co Ltd have signed a merger
agreement, which is expected to create India's largest private sector life insurance
company once the transaction is completed.
 Aviva Plc, the UK-based Insurance company, has acquired an additional 23 per cent
stake in Aviva Life Insurance Company India from the joint venture (JV) partner Dabur
Invest Corporation for Rs 940 crore (US$ 141.3 million), thereby increasing their stake
to 49 per cent in the company.
 Insurance firm AIA Group Ltd has decided to increase its stake in Tata AIA Life
Insurance Co Ltd, a joint venture owned by Tata Sons Ltd and AIA Group from 26 per
cent to 49 per cent.
 Canada-based Sun Life Financial Inc plans to increase its stake from 26 per cent to 49
per cent in Birla Sun Life Insurance Co Ltd, a joint venture with Aditya Birla Nuvo
Ltd, through buying of shares worth Rs 1,664 crore (US$ 244.14 million).
 Nippon Life Insurance, Japan’s second largest life insurance company, has signed
definitive agreements to invest Rs 2,265 crore (US$ 332.32 million) in order to increase
its stake in Reliance Life Insurance from 26 per cent to 49 per cent.
 Bennett Coleman and Co. Ltd (BCCL), the media conglomerate with multiple
publications in several languages across India, is set to buy Religare Enterprises Ltd’s
entire 44 per cent stake in life insurance joint venture AegonReligare Life Insurance
Co. Ltd. The foreign partner Aegon is set to increase its stake in the joint venture from
26 per cent to 49 per cent, following government’s reform measure allowing the
increase in stake holding by foreign companies in the insurance sector.
 GIC Re and 11 other non-life insurers have jointly formed the India Nuclear Insurance
Pool with a capacity of Rs 1,500 crore (US$ 220.08 million) and will provide the risk
transfer mechanism to the operators and suppliers under the CLND Act.
 State Bank of India has announced that BNP Paribas Cardiff is keen to increase its stake
in SBI Life Insurance from 26 per cent to 36 per cent. Once the foreign joint venture
partner increases its stake to 36 per cent, SBI’s stake in SBI Life will get diluted to 64
per cent.

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Government Initiatives
The Union Budget of 2017-18 has made the following provisions for the Insurance Sector:
 The Budget has made provisions for paying huge subsidies in the premiums of Pradhan
MantriFasalBimaYojana (PMFBY) and the number of beneficiaries will increase to 50
per cent in the next two years from the present level of 20 per cent. As part of PMFBY,
Rs 9,000 crore (US$ 1.35 billion) has been allocated for crop insurance in 2017-18.
 By providing tax relief to citizens earning up to Rs 5 lakh (US$ 7500), the government
will be able to increase the number of taxpayers. Life insurers will be able to sell them
insurance products, to further reduce their tax burden in future. As many of these people
were understating their incomes, they were not able to get adequate insurance cover.
 Demand for insurance products may rise as people’s preference shifts from formal
investment products post demonetization.
 The Budget has attempted to hasten the implementation of the Digital India initiative.
As people in rural areas become more tech savvy, they will use digital channels of
insurers to buy policies.
The Government of India has taken a number of initiatives to boost the insurance industry.
Some of them are as follows:
 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
enable the companies to raise resources from the capital market to meet their fund
requirements.
 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.
 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.

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 IRDAI has formed two committees to explore and suggest ways to promote e-
commerce in the sector in order to increase insurance penetration and bring financial
inclusion.
 IRDAI has formulated a draft regulation, IRDAI (Obligations of Insures to Rural and
Social Sectors) Regulations, 2015, in pursuance of the amendments brought about
under section 32 B of the Insurance Laws (Amendment) Act, 2015. These regulations
impose obligations on insurers towards providing insurance cover to the rural and
economically weaker sections of the population.
 The Government of Assam has launched the Atal-AmritAbhiyan health insurance
scheme, which would offer comprehensive coverage for six disease groups to below-
poverty line (BPL) and above-poverty line (APL) families, with annual income below
Rs 500,000 (US$ 7,500).
 The Uttar Pradesh government has launched a first of its kind banking and insurance
services helpline for farmers where individuals can lodge their complaints on a toll free
number.
 The select committee of the Rajya Sabha gave its approval to increase stake of foreign
investors to 49 per cent equity investment in insurance companies.
 Government of India has launched an insurance pool to the tune of Rs 1,500 crore (US$
220.08 million) which is mandatory under the Civil Liability for Nuclear Damage Act
(CLND) in a bid to offset financial burden of foreign nuclear suppliers.
 Foreign Investment Promotion Board (FIPB) has cleared 15 Foreign Direct Investment
(FDI) proposals including large investments in the insurance sector by Nippon Life
Insurance, AIA International, Sun Life and Aviva Life leading to a cumulative
investment of Rs 7,262 crore (US$ 1.09 billion).
 IRDAI has given initial approval to open branches in India to Switzerland-based Swiss
Re, French-based Scor SE, and two Germany-based reinsurers namely, Hannover Re
and Munich Re.

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Road Ahead
 India’s insurable population is anticipated to touch 750 million in 2020, with life
expectancy reaching 74 years. Furthermore, life insurance is projected to comprise 35
per cent of total savings by the end of this decade, as against 26 per cent in 2009-10.
 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.
 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.
 Exchange Rate Used: INR 1 = US$ 0.015 as on February 9, 2017
Recent
 As of 2016, life insurance sector has 29 private players in comparison to only four in FY02
 With 70.4 per cent share market share in FY16, LIC continues to be the market leader,
followed by SBI (5.1 per cent), ICICI (4.9 per cent) and HDFC (4.1 per cent)

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Life Insurance MarketAppears Vibrant
 The life insurance market grew from US$ 10.5 billion in FY02 to US$ 27.5 billion in
FY16
 Over FY02–FY16, life insurance premiums expanded at a CAGR of 7.5 per cent.
 The life insurance industry has the potential to grow 2-2.5 times by 2020 in spite of
multiple challenges supported by long-term trends and fundamentals underlying
household savings.

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List of Life Insurance Companies
While LIC has been around for a long time and is an extremely profit making venture, some of
the private players have just about started making profits on a year-on-year basis. It will take
some time before most of them break even. The life insurance business has a long gestation
period and it may take more than a decade to break even – so all players would be ready for
1. AegonReligare Private Player
2. Aviva India Private Player
3. Bajaj Allianz Life Insurance Private Player
4. Bharti Axa Life Insurance Private Player
5. Birla Sun Life Private Player
6. Canara HSBC Private Player
7. DLF Pramerica Private Player
8. Future Generali Life Private Player
9. HDFC Standard Private Player
10. ICICI Prudential Private Player
11. IDBI Fortis Private Player
12. IndiaFirst Private Player
13. ING Vysya Private Player
14. Kotak Mahindra Old Mutual Private Player
15. LIC Government Owned
16. Max New York Private Player
17. Met Life Private Player
18. Reliance Life Insurance Private Player
19. Sahara India Private Player
20. SBI Life Private Player
21. Shriram Life Insurance Private Player
22. Star Union Dai-ichi Private Player
23. Tata AIG Life Insurance Private Player

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List of Non-Life Insurance Companies :
The core business of almost all non-life insurance companies in India are loss making. It is
only through investment income that these companies report profits. This is not a desirable
scenario and we should see a lot of upward price revisions in the coming years – some this has
already started. With an entry of every new player we see the effort to grab market share and
drop premiums.
1. Agriculture Insurance Company Government Owned
2. Apollo Munich Health Insurance Private Player
3. Bajaj Allianz General Insurance Private Player
4. Bharti AXA General Insurance Private Player
5. Cholamandalam MS Private Player
6. Export Credit Guarantee Corp Government Owned
7. Future Generali Private Player
8. HDFC Ergo Private Player
9. ICICI Lombard Private Player
10. IffcoTokio Private Player
11.. L&T General Insurance Private Player
12. Max Bupa Private Player
13. National Insurance Government Owned
14. New India Assurance Government Owned
15. Oriental Insurance Government Owned
16. Raheja QBE Private Player
17. Reliance General Insurance Private Player
18. Royal Sundaram Private Player
19. SBI General Insurance Private Player
20. Shriram General Insurance General Insurance
21. Star Health Insurance Private Player
22. Tata AIG General Insurance Private Player
23. United India Government Owned
24. Universal Sompo Private Player

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CHAPTER 2
COMPANYPROFILE
Bajaj Allianz General Insurance Company Limited
Type Private Limited
Industry Insurance
Founded 2001; 16 years ago
Headquarters Pune, India
Area served Worldwide
Key people TapanSinghel (MD and CEO)
Products Motor Insurance, Health Insurance, Travel
Insurance, Home Insurance, Marine Insurance
Revenue INR 59 billion (FY 2015-2016) [1]
Net income ₹6 billion (US$93 million)
Parent Bajaj Finserv, Allianz SE
Website www.bajajallianz.com

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Bajaj Allianz General Insurance is a private general insurance company in India. The
company is a joint venture between BajajFinserv Limited (recently demerged from Bajaj Auto
Limited) owned by the Bajaj Group of India and Allianz SE, a German financial services
company. Both enjoy a reputation of expertise, stability and strength.
2.1 History
Bajaj Allianz General Insurance received an Insurance Regulatory and Development Authority
of India (IRDAI) certificate of registration on 2 May 2001 to conduct general insurance
business, including health insurance, in India. In the first year of its operations the company
had 36 offices and around 100 employees. The company started its operations with a paid up
capital of ₹1.10 billion. Bajaj Finserv Limited holds 74% and the remaining 26% is held by
Allianz SE. Bajaj Allianz is headquartered in Pune with offices in over 200 cities in India and
more than 3,500 employees as of 2015.
The Company lists 97 filed and approved products, of which 27 are health products.In
January 2014, the company announced it would open up all-women branches. As of 2015, the
company has 30 such branches in India.
As on 31st March 2016, Bajaj Allianz continues to be one of the most financially robust insurers
in the industry by maintaining its growth as well as profitability. The company has made a
profit before tax of Rs. 771 crore and emerged as the most profitable insurer recording a profit
after tax of Rs.564 crore. The company reported a GWP of Rs. 5901 crore, which has grown
by 11.3% compared to the last fiscal, despite claims post Chennai Floods.
2.2 Vision
 To be the first choice insurer for customers
 To be the preferred employer for staff in the insurance industry
 To be the number one insurer for creating shareholder value

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2.3 Mission
As a responsible, customer focused market leader, we will strive to understand the
insurance needs of the consumers and translate it into affordable products that deliver value for
money.
A Partnership Based on Synergy.
Bajaj Allianz offers technical excellence in all areas of General and Health Insurance, as well
as Risk Management. This partnership successfully combines Bajaj Finserv's in-depth
understanding of the local market and extensive distribution network with the global
experience and technical expertise of the Allianz Group. As a registered Indian Insurance
Company and a capital base of Rs. 110 crores, the company is fully licensed to underwrite all
lines of insurance business including health insurance.
2.4 Logo

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2.5 Achievements
Bajaj Allianz has received iAAA rating, from ICRA Limited, an associate of Moody's
Investors Service for seven consecutive years. This rating indicates highest claims paying
ability and a fundamentally strong position.
Bajaj Allianz General Insurance has been adjudged as the "Best General Insurance
Company in the Private Sector" by ABP News - Banking, Financial Services Awards in the
year 2014. The Company was awarded in the same category by Indian Insurance Awards in
the year 2013, by Bloomberg UTV Financial Leadership Awards in 2012 and by CNBC
TV18 India Best Bank and Financial Institution Award in 2012 and 2011.
Bajaj Allianz was conferred with the Golden Peacock Award 2014 in the category of
Innovative Products/Service. It was awarded as "Claims Service Company of the Year" by
the Indian Insurance Awards 2013, for its superior claims paying ability. In the same year
Bajaj Allianz won an award for "Claims Innovation of the Year" in the Asia Pacific Region
at the Claims Awards Asia 2013.

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2.6 Awards
 Personality Of The Year - Annual Insurance Summit & Awards
 India's Most Trusted CEOs 2017 - WCRC Leaders Asia
 India's Leading Insurance Company (Non-life Private) - Dun & Bradstreet - BFSI
Awards 2017
 "India's Most Admired Brands 2015-16" by White Page International
 CEO of the Year by ABF Insurance Asia Awards 2016
 Domestic General Insurer of the Year India by ABF Insurance Asia Awards 2016
 New Insurance Product of the Year by ABF Insurance Asia Awards 2016
 General Insurance Company of the Year 2016
 iAAA Rating by ICRA
 Economic Times Best Corporate Brand Award 2015
 Silicon Valley Business Award 2015
 Best General Insurance Company 2015 - Vijayavani BFSI Excellence Awards 2015
 Best in Diversity Award - TA Annual Leadership League Award 2014
 Best General Insurance Company of the Year, by Asia Insurance Industry Awards 2014
 Best Travel Insurance Company by CNBC AWAAZ Travel Awards 2014
 Best Insurance Company in the Private Sector - 2014 by ABP News BFSI Awards
 Bloomberg UTV Financial Leadership Award 2011
 General Insurance Provider of the Year - Money Today FPCIL Awards 2012

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 Bajaj AllianzGeneralInsuranceCo. Ltd. INSIDERSON Board Members
Name Title
TapanSinghel MD, CEO & Executive Director
Name (Connections) Type of Board Members Primary Company
Sanjivnayan Bajaj Chairman of the Board Bajaj Finserv Limited
Rahul Bajaj
Member of the Board of
Directors
Bajaj Auto Limited
Heinz Dollberg
Directors
Allianz China Life Insurance Co.,
Ltd.
NanooPamnani BA(Hons),
BSc
Directors
Bajaj Finserv Limited
Ranjit Gupta
Directors
Bajaj Finserv Limited
Sanjay Asher CA, LLB
Directors
Ashok Leyland Limited
DipakPoddar
Directors
Poddar Housing and Development
Limited
Suraj Mehta
Directors
Bajaj Allianz Life Insurance
Company Limited
Nirajkumar Bajaj B.Com.,
MBA
Directors
Mukand Limited
Lila Poonawalla
Directors
KPIT Technologies Limited
Sergio Balbinot
Directors
Allianz SE
HichamRaissi
Directors
Allianz Saudi Fransi Cooperative
Insurance Company
Manu Tandon Alternate Director
Bajaj Allianz Life Insurance
Company Limited

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CHAPTER 3
LITERATURE SURVEY

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CHAPTER 3
LITERATURE SURVEY
3.1 Market Potential
Market potential describes the maximum capacity of a defined market for a specific product /
a service within a defined time period. In this context market refers to the total of all potential
consumers with a certain need or desire who are willing or able to satisfy this need or this desire
through the purchase of products / services. The sales potential can then be derived from the
results of the market potential analysis. Market potential consists of the upper limit of total
demand which would theoretically be converged on at (infinite) rise of marketing expenditures
of all relevant providers.
Planning, development and introduction of new products is always associated with uncertainty.
Specific knowledge regarding potential target consumers and their probable spending on the
new product provides you with more certainty concerning the market success of new product
developments. We can offer you precise and reliable information in this area after conducting
a market potential analysis. Market potential analysis is especially used for growth or
unsaturated markets for which “market size” cannot simply be estimated through the actual
market volume. Market potential analysis offers decision support for specific questions for
which such as:
a) Exploration of potential (target) markets
b) Determination of company locations
c) Evaluation of ideas (screening)
d) Designation of sales area

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3.1.1 Definitions of Market Potential
“The maximum achievable combined sales volume for all sellers of a specific product during
a specific time period, in a specific market.”
“An estimate of the maximum possible sales of a commodity, a group of commodity, or a
service for an entire industry in a market during a stated period.”
3.1.2 Introduction
The market forecast shows expected market demand, not maximum market demand. For the
latter, we need to visualize the level of market demand resulting from “very high” level of
industry marketing expenditure, where further increase in marketing effort would have little
effect in stimulating further demand. Market Potential is the limit approached by the market
demand as industry marketing expenditures approach infinity for a given marketing
environment. Although the world is becoming flatter, there is still some roundedness. However
much nations and regions integrate their trading policies and standards, each nation still has
some unique features. Its readiness for different product and services, and its attractiveness as
a market, depends on its economic, political-legal, and cultural environment.
The phrase “for a given market environment” is crucial. Consider the market potential for
automobiles. It’s higher during prosperity than during a recession. Market analyses distinguish
between the position of the market demand function and movement along it. Companies cannot
do anything about the position of the market demand function, which is determined by
marketing environment. However, they influence their particular location the function when
they decide how much to spend on marketing.
Companies interested in market potential have a special interest in the product penetration
percentage, which is the percentage of ownership or use of a product or service in population.
Companies assume that the lower the product-penetration percentage, higher the market

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potential, although this assumes that everyone will eventually being the market for every
product.
Companies can prepare as many as 90 different types of demand estimated for six different
products levels, five space levels, and three time period. Each demand measure serves a specific
purpose. A company might forecast short-run demand for a particular product for the purpose
Of ordering raw materials, planning production, and burrowing cash. It might forecast regional
demand for its major production line to decide whether to set up regional distribution.
The size of a market hinges on the number of buyers who might exist for a particular market
offer. But there are many productive ways to break down the market:
 The potential market is the set of consumers who profess a sufficient level of interest
in a market offer. However, consumer interest is not enough to define a market for the
marketer unless they also have sufficient income and access to the product.
 The available market is the set of consumers who have interest, income and access to a
particular offer. For some market offers, the company or government may restrict sales
to certain groups. For example, a particular state might ban motorcycle sales to anyone
less than 21 years of age. Eligible adults constitute the qualified available market- the
set of consumers who have interest, income, access and qualifications for the particular
market offer.
 The target market is the part of the qualified available market the company decides to
pursue. The company might decide to concentrate its marketing and distribution efforts
on the South-Asian market.
 The penetrated market is the set of consumers who are buying the company’s products.

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3.1.3 Total market potential
Total market potential is the maximum amount of sales that might be available to all the firms
in an industry during a given level of industry marketing effort and environmental conditions.
A common way to estimate total market potential is as follows:
Total market potential = Potential numbers of buyer ×Average quantity purchased by a
buyer × The Price.
3.1.4 Area Market Potential
Companies face the problem of selecting the best territories and allocating their marketing
budget optimally among these territories. Therefore, they need to estimate the market potential
of different districts, towns, cities, states and nations. Two major methods of assessing area
market potential are available:
 The market-buildup method
This is used primarily by consumer marketers.
 Testing the Market Potential Customers
When selling a product what is the most important part of the business model? Who
buys the product uses it and puts money in the inventor’s bank? The customers who
will be purchasing product are the most important part of an inventor market approach
instead of saying “If build it, they will come, “the inventor should ask, “If I build it,
will they come?” and “Why?”
3.1.5 Who is the Product For?
Inventor must decide exactly who will want this new product – the target market is defined by
breaking of the overall market into segments, groups of potential buyers who shares certain
characteristics what are their demographics? Knowing this vital information not only help the

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inventor know who potential customers are, but also leads the way for all strategic marketing
endeavors understanding how much to charge, what payments to take, what product literature
should look like and were to sale the invention all arise from knowing the customers.
3.1.6 Why will they buy it?
What is the unique, compelling benefit of the project? This is usually the trickiest question for
technology – oriented people because they tend to think of the technology itself as the answer
the truth is that the people buy products, not a feature what need does the product fill, and do
prospective customer have this need? This seems obvious, but false perceptions of the market
can prove a costly mistake inventors should survey potential customers for thoughts on the
supposed need more than likely inventors will have a good idea of the product potential because
they saw the need for the invention in the first place but it does not hurt to be cautious, may be
other people don’t have the same need the inventor has projected.
3.1.7 Why will they buy it for you?
Is there something special about the product an inventor is offering? Must set themselves apart
from their competitions and find the reasons their customer should buy from them this is their
source of competitive advantage is the product better looking, a better value more personal
higher quality, smaller, lighter, more versatile, or better designed ? Identified the key
characteristics about the product that are highly value by the target market and make it the
reason why they from you.
Can customer go without the product or by buying it from somewhere else? The inventor needs
to have a strong idea of why people will come to them for this new product, what makes them
special recognizing this niche prove to be price less when competing against other in a race to
market if one person has a better grasp of why they are special and will succeed, they will
overtake their competition because others will believe in them as well.

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3.2 Segmentation
Market segmentation consist of taking total heterogeneous market for a product and dividing
it into several sub market or sub segment each of which tend to be homogeneous in all
significant steps.
In this segmentation of Pune city market was done by geographical as well as demographic
wherein various region and areas are consider as well as income level of consumer was taken
into account. This project is done by concentrating on specific area who is the prospective
customers.
3.3 Target Market
After evaluating different segment a company must now decide which and how many segment
it will target. A target market consists of a set of buyers who share common needs or
characteristics that the company decides to serve. In this project target market are commercial
places and individual customers.
3.3.1 Objects behind the target market segment
 To locate market opportunities.
 To find out varying specific needs of different types of customers
 To identify the sub group in the market.
 To identify new profitable segment which deserve special attentions and offer potential
for business?
3.4 About General Insurance Corporation:
General Insurance Corporation of India (GIC) was incorporated on 22 November 1972 under
the Companies Act, 1956 as a private company limited by shares.GIC was formed for the

26
purpose of superintending, controlling and carrying on the business of general insurance. As
soon as GIC was formed, GOI transferred all the shares it held of the general insurance
companies to GIC. Simultaneously, the nationalised undertakings were transferred to Indian
insurance companies. After a process of mergers among Indian insurance companies, four
companies were left as fully owned subsidiary companies of GIC:
 National Insurance Company Limited
 The New India Assurance Company Limited
 The Oriental Insurance Company Limited
 United India Insurance Company Limited.
The next landmark happened on 19th April 2000, when the Insurance Regulatory and
Development Authority Act, 1999 (IRDAA) came into force. This Act also introduced
amendment to GIBNA and the Insurance Act, 1938. An amendment to GIBNA removed the
exclusive privilege of GIC and its subsidiaries carrying on general insurance in India. In
November 2000, GIC was renotified as the Indian Reinsurer and through administrative
instruction, its supervisory role over the four subsidiaries was ended. With the General
Insurance Business (Nationalisation) Amendment Act 2002 (40 of 2002) coming into force
from March 21, 2003; GIC ceased to be a holding company of its subsidiaries. The ownership
of the four erstwhile subsidiary companies and also of the General Insurance Corporation of
India was vested with Government of India.GIC Re is a wholly owned company of Government
of India.
3.5 Review of literature for generalinsurance :
In order to find out the gaps in research, the literature already available pertaining to the
problem is to be reviewed. The literature on general Insurance Corporation in India includes
books, compendia, study reports and articles published by academicians and researchers in
different periodicals. The review of this literature gives an idea to concentrate on the
unexplored area and to make the present study more distinct from other studies. The available
is presented below:

27
1) Dr. S. M. Tarjaq Zafar , Ms. Ritika Aggarwal (March 2013) in their article on ―financial
performance of Indian General Insurance Companies in pre-recession Period‖ this particular
paper analyse their qualitative and quantitative performance and comparatively analyse
insurance companies efficiency and profitability position.
2) Mr. Joji Rao and Krishna K Pandey (Sep 2013) in his article ―Risk management in
Genera; Insurance business In India‖ has studied the methods of Risk Management in General
Insurance Business in India.
3) Srivastava, D.C. and Srivastava, S (2001) in his article on ―Indian insurance industry
transition and prospects‖ discuss analytically the financial significance of insurance industry,
its contribution to Indian economy and also the transitory prospects and challenges of
insurance industry due to liberalization and the opening up of the sector to private players.
4) Indian Credit Rating Agency (ICRA) 2013, in its Paper titled ―Indian General Insurance
Industry- Industry Outlook and Performance Review‖ has reviewed the performance of
General Insurance Industry of India.
5) Dr. Sonal Nena (Dec 2013) in her Papaer titled ―Performance Evaluation of LIC of
India‖ has reviewed the importance, working, Operating Efficiency and Growth of LIC of
India‖.
6) Mark S Dorfman (2002) in his book on ―Introduction to Risk Management and
Insurance‖ Reviews the salient features of the Insurance Industry and also the role played by
the private enterprise. The different types of Insurance Intermediaries are also discussed at
length with suitable illustration incorporated wherever necessary.
7) Charles P Jones (2002) in his book on ―Investment analysis and Management‖ Explains
clearly about the framework for evaluating portfolio performance through return and risk
considerations.

28
CHAPTER 4
OBJECTIVE AND SCOPE OF
THE PROJECT

29
CHAPTER 4
OBJECTIVES & SCOPE OF STUDY
OBJECTIVES
PRIMARY OBJECTIVES
 To investigate the market potential for general insurance in SME’s and educational
institutes
 To understand the requirements of SME’s and educational institutes with respect to
man, material & machine.
SECONDARY OBJECTIVES
 To ascertain SME’s and educational institutes which may use the general insurance.
 To create awareness of insurance in educational institutes.
SCOPE OF THE STUDY
 The study was carried out for Educational Institutes and SME’s in Pune City.
 The duration of the study was two months.
 The study was carried out as a part of the Direct Marketing Division of the company.

30
Duration:
The scope of the project was limited to the duration of 2 months as far as the time element
is considered. The researcher had to do the project in the time stipulated by the University
of Pune.
Location:
As the researcher had done her project with Bajaj Allianz General Insurance Pvt. Ltd. Pune
the location was limited to the local area of Pune city.
Area of study:
 The main objective was to identify different areas in educational institutes and
SME’s which create scope for insurance business.
 The instrument used for data collection (primary data) by the researcher was
questionnaire which was filled by the existing Educational Institutes and SME’s.

31
CHAPTER 5
RESEARCH METHODOLOGY

32
CHAPTER 5
RESEARCHMETHODOLOGY
RESEARCH METHODOLOGY
Research is an intensive and purposeful search for knowledge and understanding of social and
physical phenomenon .Research is scientific activity undertaken to establish something, a fact,
a theory a principle or an application .One can also define research as a scientific and systematic
search for pertinent information on a specific topic .In fact research is art of scientific
investigation.
According To John W.Best ‘Research is the systematic and objective analysis and recording
of controlled observation that may lead to development of generalization, principles or theories
resulting prediction and possibly ultimate control of events.
TYPE OF RESEARCH
There are three different types of research.
 Descriptive Research
 Exploratory Research
 Casual/ Experimental
1.) Descriptive Research:
Descriptive research includes surveys and fact finding enquiries of different kinds.The major
purpose of descriptive research is description of the state of affairs as it exists at present.The
main characteristic of this research is that the researcher has no control over the variables; he
can only report what has happened or what is happening.

33
2.) Exploratory Research:
Exploratory research attempts to discover general information about some topic that is not well
understood by the marketer. The basic difference between exploratory and descriptive research
is in the research design. Exploratory research follows a format that is less structured and more
flexible than descriptive research. This approach works well when the marketer does not have
an understanding of the topic or the topic is new.
3.) Casual Research:
In this form of research the marketer tries to determine if one variable affects another variable.
Marketers use this approach to test marketing scenarios such as what might happen to product
sales if changes are made to product design.
 Research Design
An integral component of a research design is the sampling plan. Specifically, it addresses
three questions:
 Whom to survey (The sample unit)?
 How many to survey (The sample size)?
 And how to select them (The sampling procedure)?
Making a census study of the entire universe will be impossible on the account of limitations
of time, resources and money. Hence sampling becomes inevitable. A sample is only a portion
of the universe of population. According to Yule, a famous statistician, the object of sampling
is to get maximum information about the parent population with minimum effort. Properly
done, sampling produces representative data of the entire population.
SAMPLING
Sampling is the act, process, or technique of selecting a suitable sample, or a representative
part of a population for the purpose of determining parameters or characteristics of the whole
population.

34
UNIVERSE
Collection, population, or set of entities, items, or quantities (grouped together on the basis
of common or defining characteristics or features) from which a representative sample is
drawn for comparison or measurement. The sampling universe is the totality of items/events
from which you can select or sample for statistical analysis and description.
SAMPLE FRAME
The sampling frame means the list of all the units comprising the population from which a
sample is to be drawn.
SAMPLE UNIT
A single section selected to research and gather statistics of the whole. For example, when
studying a group of college students, a single student could be a sampling unit.
The sample units for this study were the different Institutes in Pune City
Technique of Sampling
Sampling is broadly classified into two techniques:
1) Probability
2) Non-Probability
Probability Sampling is also known as ‘random sampling’ or ‘chance sampling’. Under this
sampling design every item of the universe has an equal chance, or probability of being chosen
for sample. This implies that the section of the sample items is independent of the persons
making the study - that is the sampling operation is controlled objectively so that the items will
be chosen strictly at random. Probability samples may take the form of:
 Simple Random Sampling
 Systematic Sampling
 Stratified Sampling
 Cluster and Area Sampling
 Sequential Sampling
 Multi stage Sampling

35
5.1.2 Non Probability Sampling:
Non Probability Sampling is also known as deliberate sampling, purposive and judgment
sampling. Non-probability sampling is that which does not provide every item in the universe
with a known chance of being included in the sample. Non-probability sampling is of the
following type:
 Convenience Sampling
 Quota Sampling
 Judgment Sampling
 Snowball Sampling
 Research Process
Particulars Description
Type of Research Descriptive Market research
Research Approach Quantitative & Qualitative
Sampling Method Non Probability – Convenience Sampling
Sample Educational institutes
Sample Area Pune City
Sample Universe India
Sample Size 50
Primary Data Collection
Technique
 Questionnaire
 Interview Schedule

36
Secondary Data Collection
Technique
 Internet
 White Papers
Data collection
Utmost care need to be taken while collecting the data, the data collected constitutes the base
and foundation of the observation and analysis. This helps in the result process; if the data is
inadequate the whole analysis may be faulty.
Depending upon the sources data and be classified under two categories:
1. Primary Data
This is the data, which is collected from the survey of respondents.This data can be collected
either with a structured questionnaire or interviews and data can be analyzed. Primary data is
the information directly from the respondents,more over exact response of the person
interviewed can be recorded.
In this project the primary data is collected through means of Questionnaires and
Interviewing.
2. Secondary data.
Similarly to primary data, secondary data are something which is collected from secondary
sources like printed material, websites, etc. These are data which are already available either
published or printed in past.
Example:
 Journals
 Company records
 Company annual reports
 Trade journals
 Magazines and Publications
 Printed material from government department

37
In this project the secondary data is collected from Company Websites, Internet, White
papers.
Data collection tool
The data collection tools used in this research project is:
1. Questionnaire :
A questionnaire consists of a set of questions presented to respondents for answers .The
respondents read the questions, interpret what is expected and then write down the answers
themselves .It is called an interview schedule when the researcher asks the questions (and if
necessary, explain them) and record the respondent's reply on the interview schedule.
In this project 10 questions were prepared keeping in mind the title of the project.
Analysis techniques
Data analysis is the process of gathering, modeling and transforming data with the goal of high
lightning useful information, suggesting conclusion and supporting decision making. Data
analysis has multiple facets and approaches, encompassing diverse techniques under a variety
of names, in business, science and other social domains.
Statistical Tools used for analyzing the data:
Percentage Method
Percentages are used for making comparison between two or more series of data. This tool was
used to know the percentages, to which the respondents had responded for each of the
parameters for the various questions in the questionnaire.
Pictorial Analysis
Bar graphs and Pie charts are used to depict the data in pictorial format.

38
CHAPTER 6
DATA ANALYSIS &
INTERPRETATION

39
CHAPTER 6
DATA ANALYSIS AND INTERPRETATION
Q1.) Do you have any Insurance Policy
Graph 6.1: No of Insured Institutes
INTERPRETATION
When the customers were asked that how many members in the family they had it was found that:
1) 87% have an insurance policy.
2) And 13% of them do not have any kind of insurance policy.
No. of Respondents
Yes 174
No 26
Total 200
Yes
87%
No
13%
Yes
No

40
Q2.) If yes which insurance policy do you have?
Graph 6.2: Type of Insurance Policy Insured
INTERPRETATION
When Customer’s intention for purchase was asked it was found that
1) 17%, are both policies.
2) 31% are only health policies which are generally family health policies.
3) 52% are general policies leaving non-life insurance policies.
Insured policies Types No of Insures
General Insurance Policy 28
Health Insurance Policy 17
Both 9
Total 54
General
Insurance
Policy
52%
Health
Insurance
Policy
31%
Both Policies
17%
Type ofInsurance Policy Insured
General Insurance Policy
Health Insurance Policy
Both Policies

41
Q3.) How many school buses do they have?
No ofschool Buses
0 14
1- 10 34
11-20 22
21-30 16
31-Above 7
Total 93
Table 6.3: Institutes No. of School Buses
INTERPRETATION
When the customers were asked about their income we found that
1) 37% of the respondents have 1-10 school buses.
2) 24% of the respondent have 11-20 school buses.
3) 17% have 21-30 buses among the respondent.
4) 15% have 0 buses among the respondent who outsource school
5) 7% have 31 of the respondent have 31 school buses.
0
15%
1 to 10
37%
11 to 20
24%
21 to 30
17%
31-Above
7%
Institutes No. of School Buses
0
1 to 10
11 to 20
21 to 30
31-Above

42
Q4.) Do you have any Insurance Policy for School Buses ?
Policy
No of Institutes
insured
YES 36
NO 12
Table 6.4:No. of institutes Insured School Buses
INTERPRETATION
When asked were the customers ready to take loan we found that
1) 81% of educational institute do have insurance for the buses.
2) 32% don’t have insurance for their buses.
Yes
81%
No
19%
No. of institutes Insured School Buses
Yes
No

43
Q5.) Which insurances do SME’s have?
Company Name
No of SMEs having
insurance
Bajaj Allianz Gen. Ins. Pvt. Ltd. 16
United India Ins. Co. Ltd.
7
Reliance Gen. Ins. Co. Ltd.
10
Others 9
Total 42
Table6.5: SMEs that purchase different insurances.
Graph 6.5: SME’s purchasing the insurance of various companies.
INTERPRETATION
1) 16% of respondents are insured by bajaj general insurance..
2) 6.5% of respondents are insured with the united gen. insurance.
3) 10% of respondents are insured with Reliance Gen. insurance.
4) 8.5% are insured with other insurance companies.
0
2
4
6
8
10
12
14
16
18
Bajaj Allianz Gen. Ins.
Pvt. Ltd.
United India Ins. Co.
Ltd.
Reliance Gen. Ins. Co.
Ltd.
Others

44
6) Number of SME employees having any insurance policy?
Policy No of respondents
Yes 39
No 31
Total 69
Table6.6: No Institutes insured Staff Health Policy
Graph 6.6: No. SMEs insured their employees.
INTERPRETATION
1) 56% SMEs have insured their employees.
2) 44% SMEs have not insured their employees.
Yes
56%
No
44%
Yes
No

45
Q7.) SMEs who have done GMC(Group mediclaim) for employees ?
Policy No of respondents
YES 36
NO 56
Total 92
Table6.7: SMEs having GMCs Insurance Policy
INTERPRETATION
GrGraph 6.7: No. of SME’s having GMCs for their employees.
When asked whether the customers preferred furnished house
1) 39% do have GMC for their employees.
2) 61% do not have GMC for their employees.
Yes
39%
No
61%
Yes
No

46
Q8.) Educational institutes having different education insurance policy for students?
Policy Name No. of Institutes Insured
Students Travel Insurance policy 4
Students Accidental policy 7
Students Medical Insurance policy 2
Students Care Insurance Policy 6
Other Insurance Policy 2
Total 21
Table 6.8: Institutes insured Students Insurance policies
INTERPRETATION
Graph 6.8: Institutes insured Students Insurance policies
When customers asked what they intended to buy
1) 10% have other insurance policies.
2) 19% have student travel insurance policies.
3) 33% Have student accidental policies.
4) 9% have mediclaim policy.
5) 29% have student care insurance policy.
19%
33%
9%
29%
10%
Institutes insured Students Insurance policies
Students Travel Insurance
policy
Students Accidental policy
Students Medical Insurance
policy
Students Care Insurance
Policy
Other Insurance Policy

47
Q9.) Number of SME’s having Property insurance?
Property insurance No. of respondents
Yes 18
No 40
Total 58
Table 6.9: number of SMEs having property insurance.
.
Graph 6.9: Number of SMEs having property insurance.
INTERPRETATION
1. 70% do not have any property insurance for their enterprise.
2. 30% do have insurance for their enterprise.
Yes
30%
No
70%
Yes
No

48
CHAPTER 7
OBSERVATIONS AND
FINDINGS

49
CHAPTER 7
OBSERVATION AND FINDING
 When the customers were asked that how many members in the family they had it was
found that, 40% customers had 4 members in the family.
 When Customer’s intention for purchase was asked it was found that, 40% intention for
buying the insurance policy.
 When the customers were asked about their income we found that, 36% of the respondents
were in the group of 3-4 lacs.
 When asked were the customers ready to take loan we found that, 68% of the customers
have agreed to take a bank loan which is possibility for creating the new market for BAGIC.
 When asked which company will customer prefer, the companies that they ranked were in
the following order, 46% was of Bajaj Allianz general insurance.
 When asked whether the customers need everything to be covered under insurance, 80% of
customers did not want everything to be covered under insurance due to economic problems
and unawareness about insurance.
 When customers asked what they intended to buy in general insurance, 75% of customers
preferred to buy vehicle and mediclaim or accidental policies.
 When asked to try new online platform of BAGIC about 35% responded positively to use
it.
 Awareness of insurance was asked in school, 40% customers are aware of insurances
which are available for school.
 SME’s have shown much positive response then other sector such as educational institutes
as these people where much aware about the insurance policies.
 The quantity of group mediclaim is also very low in institutes as the staff’s low loyalty
towards.
 Getting vehicle insurance for schools is time consuming because many school have
complex structure of vehicle where they have holding of some vehicles and some are out
sourced that too from different vendors.

51
CHAPTER 8
CONCLUSION
Insurance sector in India is growing at a very high rate and it is expected to grow more in future.
This study has made an attempt to understand various risk involved in insurance sector and
how to manage those risks. I observed that most of the people buy insurance police under
someone’s influence and not according to their requirement. Also there is very low awareness
about need analysis calculation. Many people do not pay their premium on time. The project
was also done to study the scope of insurance business in the educational institutes and SME’s.
I found that the educational institutes can divided into various scales depending on the strength
of the students and staff but this standard was independent of the possibility of having the
institute insured. And SMEs can be divide into turnover or the scale of business. The institutes
who care about their student, staff, workers and reputation have maintained their standards are
more likely to be the customer even with lower scale of strength. Customer satisfaction plays
an important role in increasing the market share of the company and it is very hard to get. So
insurance companies should sell their insurance policies according to needs of the customer in
this way they can easily acquire customer’s loyalty.
I also came across the fact that people are getting aware about the insurance slowly and
hence the future for insurance companies in educational institutes is bright for better chance
of development by offering better and innovative products to the institutes time-to-time.

52
CHAPTER 9
SUGGESTIONS &
RECOMMENDATIONS

53
CHAPTER 10
SUGGESTION AND RECOMMENDATIONS
The awareness of the company was fairly good but the following steps are suggested:
 For the company to flourish it is important to do good advertising. Personal consultancy to
the individuals.
 Should also concentrate more on internal branding rather than just focusing on earrings and
profits.
 Should focus on innovating micro products and try to enter into rural market where major
part of rural population is untouched and provide opportunity for business expansion.
 Should try to simplify the product more than present to attract more customer which will
directly increase the ratio of policy holders.

54
BIBLIOGRAPHY
Websites:
 https://en.wikipedia.org/wiki
 www.indianinsurance.com
 www.bajajallianz.com
 www.slideshare.com
 www.simconblog.wordpress.com
Books:
 RESEARCH METHODOLOGY
AUTHOR: C.S. KOTHARI
EDITION: SECOND EDITION
PUBLISHER: NEW AGE INTERNATIONAL (P) LTD
 MARKETING MANAGEMENT
AUTHOR: PHILIP KOTLER
EDITION: THIRTEENTH EDITION
PUBLISHER: NEW AGE INTERNATIONAL (P) LTD

55
Articles :
1.Dr. S. M. Tarjaq Zafar , Ms. Ritika Aggarwal (March 2013).
2.Mr. Joji Rao and Krishna K Pandey (Sep 2013) .
3) Srivastava, D.C. and Srivastava, S (2001).
4) Indian Credit Rating Agency (ICRA) 2013.
5) Dr. Sonal Nena (Dec 2013).
6) Mark S Dorfman (2002).
7) Charles P Jones (2002).

57
ANNEXURE
Questionnaire
1. For Educational Institutes
2. For SMEs.
1. ForEducational Institutes.
Name of Education Institute: …………………………….. Date: …………………..
Address: ………………………
Contact number : ……………………..............
1. Do you have any Insurance Policy?
a) Yes
b) No
2. If yes which insurance policy do you have?
a) General policy
b) Health policy
c) Both
3. How many school buses do you have?
a) 0
a. 1-10
b. 11-20
c. 21-30
4. Do you have any Insurance Policy for School Buses

58
a) Yes
b) No
b) If yes, from which company do you purchase Insurance Policy for School Buses?
a) Bajaj Allianz Gen. Ins. Pvt. Ltd.
b) United India Ins. Co. Ltd.
c) Reliance Gen. Ins. Co. Ltd.
d) Other
c) Your teaching staff and non-teaching staff have any insurance policy?
a) Yes
b) No
d) Do you have purchase any insurance policy for Students?
a) Yes
b) No
e) If yes, then which insurance policy they have?
a) Students Travel Insurance policy
a) Students Accidental policy
b) Students Medical Insurance policy
c) Students Care Insurance Policy
d) Other Insurance Policy
f) Do you have insurance policy for School Building?
a) Yes
a) No
g) Is there any fire insurance policy?
a) Yes
b) No

59
2.For SMEs :
Name of SME: …………………………….. Date: …………………..
Address: ………………………
Contact details : ……………………..............
1. Do you have any Insurance Policy ?
c) Yes b) No
2. If yes which insurance policy do you have ?
d) General policy or GMC.
e) Health policy
f) Both
3.When is your renewal date of insurance ?
4. How many employees do you have ?
Number----.
5.Do you have any insurance policy for employees ?
a.Yes b.No.

60
6. If yes, from which company do you purchase Insurance Policy for your buiseness?
e) Bajaj Allianz Gen. Ins. Pvt. Ltd.
f) United India Ins. Co. Ltd.
g) Reliance Gen. Ins. Co. Ltd.
h) Other
7.Do your employees have any personal insurances ?
a. Yes b.No
8. If yes, then which insurance policy they have?
b) Employee Travel Insurance policy
h) Employee Accidental policy
i) Employee Medical Insurance policy
j) Employee Care Insurance Policy
k) Other Insurance Policy
9.Do you have insurance policy for your property?
a.Yes b.No
10.Is there any fire insurance policy?
a.Yes b.No
l) Do your SME have done GMC for employees ?
a.Yes b.No

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