A STUDY ON MARKET PENETRATION IN MEDICLIAM INSURANCE IN

RELIANCE MONEY, NUNGAMBAKKAM, CHENNAI

A PROJECT REPORT

Submitted by

S.CHENTHILKUMAR
REG. NO: 21108631021

In partial fulfillment for the award of the degree

of

MASTER OF BUSINESS ADMINISTRATION

IN

RAJALAKSHMI ENGINEERING COLLEGE

THANDALAM

Affiliated to

ANNA UNIVERSITY, Chennai

July 2009

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 BONAFIDE CERTIFICATE

Certified that the project report titled “A STUDY ON MARKET PENETRATION IN

MEDICLIAM INSURANCE IN RELIANCE MONEY” is a project work done by
Mr. S.CHENTHILKUMAR, (Reg. No. 21108631021) who carried out research
under my supervision certified further, that to the best of my knowledge the work
reported herein does not form part of any other project report or dissertation on the basis
of which a degree or award was conferred on an earlier occasion on this or any other
candidate.

Dr.k.SAMPATHKUMAR Mr.T.C.THOMAS
Faculty Guide Head of the Department

DECLARATION

I S.CHENTHILKUMAR, Reg.No : 21108631021, a bonafide student of

DEPARTMENT OF MANAGEMENT STUDIES, RAJALAKSHMI
ENGINEERING COLLEGE, Thandalam would like to declare that the project titled

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report “A STUDY ON MARKET PENETRATION IN MEDICLIAM
INSURANCE”,IN RELIANCE MONEY, partial fulfillment for the award of the
degree of M.B.A course of ANNA UNIVERSITY is my original work.

Place:Chennai

Date: (S.CHENTHILKUMAR)

ACKNOWLEDGEMENT

My heart-felt gratitude to our beloved Director Mr. P. S. PANDIYAN, Dynamic Dean

Prof. S. SANKAR, and Head of the Dept. Mr.T.C.THOMAS, for giving me this
wonderful opportunity.

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 I extend my thanks to Dr.K.SAMPATHKUMAR, Professor for his precious advice
and guidelines regarding the project.

I want to thank Mr.,Karthik ,Company Manager, RelianceMoney, Chennai, for

giving me permission to do this project in the first instance, to do the necessary research
work and for being my Company Guide.

I convey my heartiest thanks to my beloved Parents who helped me to complete this

Herculean task assigned to us, without them this book couldn’t have seen the light of the
day. The light of Spirit will always burn in us, because they nourished so mercifully.

I finally thank my Friends and others who helped me to complete this project in one-
way of the other.

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EXECUTIVE SUMMARY

RELIANCE MONEY has core competency in selling and has a very aggressive sales
team. Since it is a service oriented industry, where word of mouth is very important. A
negative word of mouth may remove 10 existing customers and on the other hand a
positive word of mouth may earn 10 customers. So service should be targeted at a level,
which not only should meet the customer’s expectation but also exceed it.

Marketing is an important activity in any organization’s sales strategy. Marketing

helps in promoting the products in the targeted market and create a recall value and
branding of the products. Marketing department performs the initial market study for the
suitability of the product launches; study the market requirements in the existing markets
to further strengthen the market capitalization, identify the feature needed for the
longevity of the product.

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 CONTENTS
Chapter No. Table of Contents Page
No
LIST OF TABLES
LIST OF CHARTS
Chapter – 1 INTRODUCTION
1.1 General 1-4
1.2 Industry Profile 5-10
1.3 Company Profile 11-13
1.4 Product Profile 14-22
1.5 Objectives of the study 23
1.6 Need for the Study 24
1.7 Scope of the Study 25
1.8 Limitations of the Study 26

Chapter – 2 REVIEW OF LITERATURE 27-30

Chapter – 3 RESEARCH METHODOLOGY
3.1 Definition 31
3.2 Research Design 32
3.3 Sampling Method 33
3.4 Method of Data Collection 34
3.5 Statistical Tools 35

Chapter – 4 ANALYSIS & INTERPRETATIONS 36-44

Chapter – 5 FINDINGS OF THE STUDY 45
Chapter – 6 SUGGESTIONS AND RECOMMENDATIONS 46
Chapter – 7 CONCLUSION 47
ANNEXURE
Questionnaire
Bibliography

LIST OF TABLES

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Serial No. Particulars Page No.
1 AGE PROFILE OF THE RESPONDENTS 33
2 ANNUAL INCOME OF THE RESPONDANS 34
3 OCCUPATION OF THE RESPONDENTS 35
4 RESULT OF PERCENTAGE OF SAVING SPEND 36
FOR MEDICAL EXPENSES
5 PEOPLE WITH ENOUGH ASSET STILL NEED A 37
MEDICLAIM POLICY
6 PEOPLE HAVE A MEDICAL COVER UNDER 38
EMPLOYEE SCHEME STILL NEED A
MEDICLAIM POLICY
7 PURPOSE OF AVAILING MEDICLIAM 39
INSURANCE
8 RESULT OF AWARENESS OF POLICY 40
SCHEMES
9 MODE OFAWARENESS 41

LIST OF CHARTS
Serial No. Particulars Page No.
1 AGE PROFILE OF THE RESPONDENTS 33
2 ANNUAL INCOME OF THE RESPONDANS 34
3 OCCUPATION OF THE RESPONDENTS 35
4 RESULT OF PERCENTAGE OF SAVING SPEND 36
FOR MEDICAL EXPENSES
5 PEOPLE WITH ENOUGH ASSET STILL NEED A 37
MEDICLAIM POLICY
6 PEOPLE HAVE A MEDICAL COVER UNDER 38
EMPLOYEE SCHEME STILL NEED A
MEDICLAIM POLICY
7 PURPOSE OF AVAILING MEDICLIAM 39
INSURANCE
8 RESULT OF AWARENESS OF POLICY 40

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 SCHEMES
9 MODE OFAWARENESS 41

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 CHAPTER-1
INTRODUCTION
This project has been a great learning experience and, at the same time it gave me
enough scope to implement my analytical ability.

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 The first part gives an insight about the General Insurance (MEDICAL
INSURANCE) and its various aspects. It is purely based on whatever I learned at
Reliance Money. One can have a brief knowledge about MEDICAL INSURANCE and
all its basics through the project. Other than that the real servings come when one moves
ahead. The language has been kept simple so that even a layman could understand.
All the quarries of the customer asked by them had been solved with the support
of the seniors in the organization. The problems of the customer were being recorded for
the purpose of the research and development
Insurance is an upcoming sector, in India the year 2000 was a landmark year for
insurance industry, in this year the insurance industry was liberalized after more than fifty
years.
Insurance sector was once a monopoly, with LIC as the only company, a public
sector enterprise. But nowadays the market opened up and there are many private players
competing in the market. There are fifteen private life insurance companies has entered
the industry
For the past five years private players have launched many innovations in the
industry in terms of products, market channels and advertisement of products, agent
training and customer services etc.
Definition
"Insurance is a contract between two parties whereby one party called insurer undertakes
in exchange for a fixed sum called premiums, to pay the other party called insured a fixed
amount of money on the happening of a certain event."

MARKET PENETRATION IN HEALTH CARE: MEDICAL INSURANCE

POLICY`S ENCOMPASSING DESCRIPTION

Customers have the power to debate about the incomprehension the concept of market
penetration in Medical insurance can produce. Most medical coverage policies vary in
cost and extent of coverage. Moreover, there isn’t any one to inform potential buyers

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about the policies that are most advantageous to get and those you should avoid. The best
medical policy plan customer should get will depend on just what category of medical
cover that customer want to have, whether they need to consider others in their
immediate family , their requirements, besides other criteria. Features as well as
alternative coverage’s differ widely amongst sorts of medical policy programs, and more
so than the differences, will find in policies from sundry insurers providing the plans. The
most likely discrepancy to show up amongst insurance providers is usually insurance
charges -- based on customer personal state of affairs, some insurance providers` rates
Could be less then other’s
Still, there’s no call for insurance providers to qualify as an expert, nor do you need to
waste too many hours to figure out what medical insurance package is most appropriate
for customer circumstances. Understanding what type of policy plan offers the attributes
customer need will probably guide customer to an appropriate selection without too much
hassle.
MEDICAL INSURANCE
The policy provides for Financial Assistance against Hospitalization Expenses
towards disease / illness / injury in India including domiciliary Hospitalization and day
Care treatment.
Health Shield Online is a comprehensive Health Insurance package specially
designed to offer complete protection to the insured and his family. You can cover your
spouse, children (above 90 days) and dependent parents (up to 50 years) from all Health
worries. However, renewal is accepted only up to 70 years.

With Health Shield, you will also have access to value added services like
cashless treatment (subject to conditions and authorizations) at a list of hospitals provided
by us, a 24 hour helpline and ambulance referral facility at no additional cost. It has been
designed to ensure that you and your family get the best medical treatment at any time
when you need it.

TYPES OF MEDICLAIM INSURANCE

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  Individual Mediclaim
 Group Mediclaim
BASIC FEATURES
 Hospitalization Expenses
 Daycare Treatment
 Domiciliary Hospitalization
 Pre and Post Hospitalization
 Coverage of Pre-Existing Diseases
 Critical Illness Cover
 Donor Expenses
VALUE ADDED FEATURES
 Expenses of accompanying person at the Hospital
 Local Road Ambulance Services
 Recovery Benefit
 Cost of Health Check up
 Nursing Allowance
 Hospital Daily Allowance

A BUYER’S GUIDE TO MEDICAL INSURANCE

With employers increasingly feeling they have to look after staff welfare, providers are
responding by redeveloping products.

Medical insurance (MI) has long been an attractive benefit among employees. On-going
negative press about the National Health Service (NHS) means that MI's popularity is

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unlikely to wane any time soon. According to Bupa's Health of the nation survey,
published last month, MI is now the second most sought-after benefit, falling only behind
pensions.
But aside from providing an attractive benefit for employees, there is an added
dimension to healthcare in that employers are increasingly feeling they have to look after
staff welfare. This is just one of a number of factors that can affect the usage and cost of
MI. Thomas van every, chief medical officer of Patient Choice, says: "Employers have to
consider the lifestyles of their employees rather than just their acute health. For example,
obesity, smoking cessation, [and] stress management are areas where employers are
starting to provide services."
DUTY OF CARE
Investing in wellbeing services to complement MI schemes can help employers to
meet duty-of-care obligations towards their workforce. Mandy Blanks, PR manager at
Standard Life Healthcare, says: "Employers should be aware of the duty of care to their
employees.” Cost is very much at the heart of employers' decision to provide PMI and, in
a competitive market; insurers are clamoring for corporate business. "It is much easier to
switch plans these days. There is no need to stay with a product or provider you're not
completely satisfied with, as some companies are now offering easy switching, often on
continuous underwriting terms,".
HEALTH CARE TRUST
This move towards self insurance by employers, where they set up a corporate healthcare
trust fund to pay for medical costs, is also having an effect on the market. "It is something
employers should look at. To encourage employees to take a greater interest in their own
health, insurers are continuing to add to their product propositions

CHAPTER-1.2
RELIANCE INDUSTRIES LIMITED

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 Reliance Group Holdings has grown from a small office data-processing
equipment firm in 1961 into a major insurance and financial-services group in one
generation under one chief.
Reliance's insurance operations constitute the nation's 27th-largest property
and casualty operation. The parent company also includes a development subsidiary in
commercial real estate. Reliance's international consulting group contains several
subsidiaries in energy, environment, and natural resources consulting. A financial arm
invests in other businesses, primarily television stations.
Reliance Insurance started as the Fire Association of Philadelphia in 1817,
organized by 5 hose and 11 engine fire companies. It became the nation's first association
of volunteer fire departments.
Business got a boost as a result of the Great
Chicago Fire of 1871.The association soon developed a field of agents to write policies
across the country. For the first two years, shareholders received dividends twice a year
of $5 a share, which increased gradually to $10 in 1876.
In 1972, the Reliance insurance group divided its pool so that Reliance Insurance
Company and its
Subsidiaries handled most standard lines, while United Pacific Insurance Company
handled the nonstandard and other operations.
In 1977, the company moved into real estate, forming Continental Cities
Corporation, which became Reliance Development Group, Inc. This division handled all
real estate operations of the parent company and other subsidiaries.
Reliance Capital Group, L.P. constituted the investment branch of the Reliance
conglomerate.
In December 1989, Reliance Capital sold its investment, Days Corporation, parent
company of Days Inn of America, the world's third-largest hotel chain; it had been
purchased in 1984.

Reliance Industries Limited. The Group's principal activity is to

produce and distribute plastic and intermediates, polyester filament yarn, fibred
intermediates, polymer intermediates, crackers, chemicals, textiles, oil and gas. The

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refining segment includes production and marketing operations of the Petroleum refinery.
The petrochemicals segment includes production and marketing operations of
petrochemical products namely, High and Low density Polyethylene.

"Growth has no limit at Reliance. I keep revising my vision.

Only when you can dream it, you can do it."

Dhirubhai Ambani founded Reliance as a textile company and led its evolution as a
global leader in the materials and energy value chain businesses.
He is credited to have brought about the equity cult in India in the late seventies and is
regarded as an icon for enterprise in India. He epitomized the spirit 'dare to dream and
learn to excel'.
The Reliance Group is a living testimony to his indomitable will, single-minded
dedication and an unrelenting commitment to his goals.

RELIANCE CAPITAL

Business overview

Reliance Capital is one of India’s leading private sector financial services companies
, and ranks among the top 3 private sector financial services and banking companies, in
terms of net worth. Reliance Capital has interests in asset management and mutual
funds, stock broking , life and general insurance , proprietary investments, private
equity and other activities in financial services .

Reliance Capital sees immense potential in the rapidly growing financial

services sector in India and aims to become a dominant player in this industry and
offer fully integrated financial services .

Reliance Life Insurance is an associate company of Reliance Capital Ltd., a part of

Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s leading
private sector financial services companies, and ranks among the top 3 private

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sector financial services and banking companies, in terms of net worth. Reliance Capital
has interests in asset management and mutual funds, stock broking, life and general
insurance, proprietary investments, private equity and other activities in financial
services. Reliance - Anil Dhirubhai Ambani Group also has presence in
Communications, Energy, Natural Resources, Media, Entertainment, Healthcare and
Infrastructure

India (Mutual Fund) Regulations, 1996. RCL primarily focuses on funding projects in
the infrastructure sector and supports the growth of its subsidiary companies, Reliance
Capital Asset Management Limited , Reliance Capital Trustee Co. Limited, Reliance
Limited . As of March 31, 2005, the company’s investment in infrastructure projects
stood at Rs. 1071 Crores. The investment portfolio of RCL is structured in a way that
realizes the highest post- tax return on its investments.

Reliance Capital Ltd According to newspaper

According to newspaper reports, Reliance Capital Limited has decided to convert

itself into a special purpose vehicle cum venture capital outfit. The company plans to
develop infrastructure projects and invest in InfoTech, Internet, media and biotech
startup. The company is also drawing up plans to enter the insurance sector and to expand
its mutual fund business.

Reliance Capital Limited (RCL) is India’s largest private sector financial services
company. RCL has a net worth in excess of Rs. 11 bn. The Reliance group owns a 53%
stake in the company.

RCL is moving away from the traditional non-banking finance company mould by
reducing business activities pertaining to inter corporate deposits and corporate loans.
The company is setting aside Rs. 10 bn to invest in its new business focus areas.

THE RELIANCE ADA GROUP

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 The Reliance Group founded by Dhirubhai H. Ambani (1932-2002) is India's largest
business house with total revenues of over Rs 99,000 crore (US$ 22.6 billion), cash profit of Rs
12,500 crore (US$ 2.8 billion), net profit of Rs 6,200 crore (US$ 1.4 billion) and exports of Rs
15,900 crore (US$ 3.6 billion).
The Group's activities span exploration and production (E&P) of oil and gas, refining and
marketing, petrochemicals (polyester, polymers, and intermediates), textiles, financial services and
insurance, power, telecom and Communication initiatives.

Setting global benchmarks…

 The largest private sector group in India accounting for 9% of the government’s indirect tax
revenues, about 2.3% of country’s capital formation and 5% of country’s exports.
 The company that set up the world’s largest grassroots refinery at Jamnagar in just under 36 months
at a cost 30-50% less than that of global undertakings.
 The company that set up the world’s largest grassroots multi-feed cracker complex.
 The world’s second largest producer of polyester staple fiber and polyester filament yarn.
 The world’s largest shareholder family of 5 million.
 The only Indian company in Business Week's 1994 listing of the 50 largest companies from
developing countries
 Distinction of becoming India’s first private sector company to achieve a ranking in Fortune
Global.
 Among the world's top 425 companies by turnover, among world's top 300 companies by net
worth, among world's top 225 companies by net profits
Reliance group's business activities encompass all major growth sectors of the
Indian economy:

 Oil and gas exploration

 Refining and marketing
 Petrochemicals including intermediates
 Textiles
 Power

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  Telecom
 Communication
 Insurance
 Financial services
 Assets and finance management.
 Brokerage firm (Online trade services)

Reliance Money Ltd., an Anil Dhirubhai Ambani Enterprises group company, it’s a part of
Reliance Capital Group. Its India's one of the largest private which provides best services in share
trading and financial services.
It starts business from last 4 months. And millions of people have joined it.
The Anil Dhirubhai Ambani Enterprises group, comprising of Reliance Communication, Reliance
Energy and Reliance Capital are part of the Reliance Group, founded by Shri Dhirubhai H. Ambani
(1932-2002).
Reliance ADA Group is among the largest employers in the country, with a young, highly trained
and motivated workforce approaching 1, 00,000-strong.
Reliance have a Group market capitalization of over Rs 1, 57,000 crore, having added over Rs 1,
42,000 crore or over Rs 300 crore of shareholder wealth creation every single working day over the
past two years.
Reliance ADA group net worth is in excess of Rs 40,000 crore.
Its cash flows across the Group are approximately Rs 9,000 crore and Net profit is over Rs 5,000
crore.

PERFORMANCE REVIEW
It’s accounts for the year ended 31st March, 2007, along with the Director's Report, Letter to
Shareholders and Management Discussion and Analysis, have been circulated to you.
• Gross income of Rs.2, 158 crore - an increase of 128 per cent
• Net profit of Rs.703 crore - an increase of 23 per cent
• Earnings per share of Rs.30.73 - an increase of 16 per cent
• Book value of Rs. 215.7 per share - an increase of 18 per cent

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• Total Assets of Rs. 6,708 crore

STRONG FINANCIAL PLATFORM

It has created a strong financial platform that will be the bedrock for accelerated future growth.
• It’s net worth now stands at over Rs. 5,297 crore, as on 31st March, 2007, placing us among the
top 3 private sector Indian companies in the financial services sector, after lClCl and HDFC.
• As before, It’s enjoy the highest credit ratings, of `A1' and `F1+', awarded by ICRA and FITCH,
respectively.

CHAPTER-1.3
COMPANY PROFILE
Reliance Money is promoted by Reliance Capital; one of India's leading and
fastest growing private sector financial services companies, ranking among the top 3

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private sector financial services and banking companies, in terms of net worth. Reliance
Capital is a part of the Reliance Anil Dhirubhai Ambani Group.
Thus, Reliance Money provides a comprehensive platform, offering an investment
avenue for a wide range of asset classes. Its endeavor is to change the way India transacts
in financial market and avails financial services. Reliance Money offers a single window
facility, enabling you to access amongst others, Equities, Equity and Commodity
derivatives, Offshore Investments, IPO’s, Mutual Funds, Life Insurance and General
Insurance products.
Reliance Money is a comprehensive financial solutions provider offering a complete
basket of financial services. Through Reliance Money , currently , a customer will be
able to transact amongst others, in equity and commodity , derivatives , offshore
investments, IPO’s , mutual funds and insurance products.
At present the company has more than 350 employees across 75 locations with a total
number of 42 offices.
Some key steps of the company that are as…..
“Success is a journey, not a destination.” If we look for examples to prove this quote
then we can find many but there is none like that of Reliance Money. The company
which is today known as the largest financial service provider of India.
Success sutras of Reliance Money:
The success story of the company is driven by 8 success sutras adopted by it namely
trust, integrity, dedication, commitment, enterprise, hard work and team play, learning
and innovation, empathy and humility. These are the values that bind success with
Reliance Money.

Vision of Reliance Money

To achieve & sustain market leadership, Reliance Money shall aim for complete
customer satisfaction, by combining its human and technological resources, to provide
world class quality services. In the process Reliance Money shall strive to meet and
exceed customer's satisfaction and set industry standards.
Mission statement:

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 “Our mission is to be a leading and preferred service provider to our customers, and we
aim to achieve this leadership position by building an innovative, enterprising , and
technology driven organization which will set the highest standards of service and
business ethics.”
Our Goal
Reliance Insurance would strive hard to achieve the 3 goals mentioned below:
Emerge as transnational Insurer of global scale and standard
Create best value for Customers, Shareholders and all Stake holders
Achieve impeccable reputation and credentials through best business practices
Advantages offered by Reliance money over other companies:
 Cost Effective

 Convenience

 Security

 Single Window for Multiple Products

 3 in 1 Integrated Access

 Demat Account with Reliance Capital

 Other Services like research, live news from Reuter and Dow Jones, etc.

ACHIEVEMENTS
RLIC has been one of the fast gainers in market share in new business premium
amongst the private players with an incremental market share of 4.1% in the Financial
Year 2007- 08 – from 3.9% in April 07 to 8% in Feb 08. (Source: IRDA)
Also continues to be amongst the fast growing Private Life Insurance Companies with a
YOY growth of 195% in new business premium as of Mar’08.

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 A Company that has crossed 1.7 Million policies in just 2 years of operation, post takes
over of AMP Sanmar business.
Initiated Express Life – and Unique ’Over the Counter’ sales process for Unit Linked
Insurance Policies in the Industry.
Accomplished a large distribution ramp-up in the Industry in a short span of time by
opening 600 branches in 10 months taking the overall branch network above 740.
RLIC continues to be one of the two Life Insurance companies in India to be certified
ISO 9001:2000 for all the processes.
Awarded the Jamnalal Bajaj Uchit Vyavahar Puraskar 2007-Ceritificate of Merit in the
Financial Services category by Council for Fair Business Practices (CFBP).

CHAPTER-1.4
PRODUCT OFFERING
 Trading Portal (with almost negligible brokerage )

• Equity Broking

• Commodity Broking

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 • Derivatives ( Futures & Options )

• D-Mat Account.

 Financial Products

• Mutual Funds

• Life Insurance
o ULIP plan

o Term Plan

o Money Back Plan

• General Insurance
o Vehicle/Motor Insurance

o Health Insurance

o House insurance

IPO’s

NFOs

Value-Added Services

Retirement Planning

Financial Planning

Tax Saving

Children Future Planning

 Credit Cards

 Gold coins retailing

TRADING PORTAL
DEMAT ACCOUNT
There are many broking houses doing business in India and they charge a brokerage on
every transaction made online or offline. (Buying and Selling are treated as separate
transaction). Reliance Money’s advantage over others is that it’s charging the lowest
brokerage in the market which is just 1 paisa on every executive trade irrespective of the

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volume traded. Reliance Money, the brokerage and distribution arm of Reliance ADA
Group, aims to tap investors in the smaller towns and cities through a flat fee structure.
The current leaders in the retail broking segment like ICICI Direct, India Infoline and
Indiabulls offer a ‘pay per use’ model where the customer pays a percentage of the
amount transacted by him. Reliance Money’s brokerage rates are quite competitive.
The new wonder is Reliance Money's pre-paid card for stock market brokerage. Reliance
Money, the financial services division of Anil Dhirubhai Ambani Group-promoted
Reliance Capital, is bringing to the market pre-paid cards in denominations of Rs500,
Rs1,350 and Rs2,500 with validity period of two months, six months and twelve months
respectively.
Reliance Money consumers can trade in equities, commodities and offshore Investments ,
IPO’s, Mutual Funds, Insurance, Money transfer and Money Changing - all through
single window, both off-line and online. Reliance Money has already tied-up with CMC
Capital Plc UK to offer offshore Investment products to Indian consumers as per
guidelines
FINANCIAL PRODUCTS
A mutual fund represents a vehicle for collective investment. When you
participate in a scheme of a mutual fund, you become a part-owner of the investments
held under that scheme. The most important characteristic of a mutual fund is that the
contributors and the beneficiaries of the fund are the same class of people, namely the
investors. The term “MUTUAL” means that investors contribute to the pool, and also
benefit from the pool

Investments in securities are spread across a wide cross-section of industries and sectors
and thus the risk is reduced. Diversification reduces the risk because all stocks may not
move in the same direction in the same proportion at the same time. Mutual fund issues
units to the investors in accordance with quantum of money invested by them. Investors
of mutual funds are known as unit holders.
MUTUAL FUND

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 Thus a mutual fund is the most suitable investment for the common man as it offers an
opportunity to invest in a diversified, professionally managed basket of securities at a
relatively low cost
The shift in investor preference in mutual funds has been facilitated by:
Fiscal incentives
Increasing returns from debt mutual fund investments in the last few years due to the
secular decline in interest rates
The growing number of choices available to investors
The gradual change in the investors risks profile and returns.
EQUITY FUND
An EQUITY FUND invests mainly in stocks and shares of companies. EQUITY FUNDS
typically aim to generate long term growth in the unit capital. There are a variety of ways
in which an equity portfolio can be created for investors. There are thus the following
choices in equity funds:
DEBT FUND
A DEBT FUND invests mainly in debt instruments like bonds and debentures, with high
and consistent dividend payout. These funds give decent returns but the capital
appreciation is not much. There are a variety of ways in which a debt portfolio can be
created for investors. There are thus the following choices in debt funds:
 Liquid and Money market funds

 Gilt Funds

 Monthly Income Plan

 Floating rate funds

LIFE INSURANCE
"Insurance is a contract between two parties whereby one party called insurer undertakes
in exchange for a fixed sum called premiums, to pay the other party called insured a fixed
amount of money on the happening of a certain event."

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 Reliance Life Insurance is an associate company of Reliance Capital Ltd., which along
with its associates has acquired 100% shares in AMP Sanmar Life Insurance Co Ltd.
Reliance Life Insurance, has a pan presence and a range of products catering to individual
as well as corporate needs. A total of 16 products covering savings, protection &
investment requirements.
 Guiding Principles

 Customer Care and Satisfaction

 Corporate Governance

 Creativity and Innovation

 Competitiveness

 Unit Linked Insurance Plan

UNIT LINK INVESMENT PLANS

ULIPs have been selling like proverbial ‘hot cakes’ in the recent past and they are likely
to continue to outsell their plain vanilla counterparts going ahead. Earlier there were a
gamut of traditional products, for instance Endowment Plans; Money back plans etc, then
came the concept of Unit Link Insurance Plans, which today has caught the fancy of
many people.

INSURANCE PLANS
Product Name Description
Reliance A smart plan which adapts to your changing risk profile with

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Automatic
increasing age.
Investment Plan
Reliance Money Under this plan the investment risk in the investment portfolio is borne
Guarantee Plan by the policyholder.
Reliance This plan will keep you financially prepared for all the special
Endowment Plan occasions in your life.
Reliance Special This insurance policy is designed for people who wish to combine
Endowment Plan savings with extended security.
This insurance policy is designed for those who have a recurring need
Reliance Cash
for reinvestment in business or look for short-term investment
Flow Plan
channels.
Reliance Child This insurance policy is designed for people who wish to save money
Plan for a future time.
This insurance policy is designed for those who only want life cover
Reliance Term
for the protection of their family, and do not wish to save for
Plan
themselves.
This insurance policy is designed for people who do not wish to avail
Reliance Whole of any benefits themselves but wish to create an immediate estate to
Life Plan protect their family by availing of insurance cover on their life at a
very low cost.
Reliance Market Return Fund is the unit-linked product that helps you
Reliance Market
invest in the financial markets in a combination of investment
Return Plan
instruments of your choice.

GENERAL INSURANCE
Fundamentals of General Insurance companies are business houses. The product they sell
is financial protection. To succeed and survive, they must cover their costs, which include
payments to cover the losses of policyholders, as well as sales and administrative
expenses, taxes and dividends. Insurance companies have two sources of income for
covering these costs: premium and investment income. The premium are collected on a

27
 regular basis and invested in Government Bonds, Gift stocks, mutual funds, real estates
and other conservative avenues. However, investment income depends on market
conditions, interest rates, economy etc and varies from year to year. Because of the
uncertainty associated with the investment income, insurance companies must generate
enough income form premium to cover the bulk of their expenses. The primary function
of insurance is to provide protection against financial losses caused by unforeseen events.
This protection is available to individuals, businessmen and large companies alike.

Types of General Insurance

 Health

• Individual Mediclaim

• Group Mediclaim

• Reliance Health Wise Policy

 Personal Accident

• Personal Accident

• Group Personal Accident

 Fire

• Standard Fire and Special Perils

• Consequential Loss (Fire)

• Industrial All Risks

 Engineering

• Erection All Risks/Storage-cum-Erection

• Contractor’s All Risks

• Contractor’s Plant and Machinery

• Machinery Breakdown Insurance

• Machinery Loss of Profits Insurance

• Boiler and Pressure Plant Insurance

• Electronic Equipment Insurance

28
 Motor

• Private Car Comprehensive

 Liability

• Directors and Officers Liability

• Public Liability (Act)

• Public Liability

• Product Liability

• Professional Indemnity

• Workmen’s compensation

 Miscellaneous

• Industry Care

• Commercial Care

• Office Package

• Fidelity Guarantee

• Burglary and Housebreaking

• Money Insurance

• Householder’s Package

• Shopkeeper’s Package

FEATURES OF MEDICLAIM POLICY

 BASIC FEATURES

• Hospitalization Expenses

• Daycare Treatment

• Domiciliary Hospitalization

29
 • Pre and Post Hospitalization

• Coverage of Pre-Existing Diseases

• Critical Illness Cover

Donor Expenses

 VALUE ADDED FEATURES

• Expenses of accompanying person at the Hospital

• Local Road Ambulance Services

• Recovery Benefit

• Cost of Health Check up

• Nursing Allowance

• Hospital Daily Allowance

 POLICY FEATURES

• Income Tax Benefit

• Family Floater ( 1, 1+1, 1+2, 2+2 )

• Sum Insured

• Pre-insurance Health Check up

• Option in Policy Duration ( 1 & 2 years )

• Renewal Discount

• Cashless Facility (Through Third Party Administrators - TPA)

• Age Slabs

PLAN DETAILS FOR MEDICLAIME INSURANCE

30
 CHAPTER-1.5
OBJECTIVE OF THE STUDY

31
 To find the market potential and penetration of Reliance Money’s General
Insurance (Medclaime insurance) in Chennai.
 To expand the market penetration of Reliance money.
 To increase the product awareness of Reliance money as single window shop for
investment solutions.
 To give an idea about the regulations of mediclime insurance
 To give an idea of the types of schemes available

CHAPTER-1.6
NEED OF THE STUDY

32
The need of the study arises because of the reason that a trainee must understand the
company, its achievements and tasks, products and services and also to collect
information about the market penetration , its products and services offered. So that, after
understanding and collecting information about the organization and its competitors, a
trainee will be able to work well for the organization

CHAPTER-1.7
SCOPE OF THE STUDY

33
The scope of the study refers to the job that to know about the activities of the
organization. The study means that the analysis of the products of the company on which
he/she has to focus.

During the summer training the volunteer need to find out the Marketing penetration
strategies of the running company and the mile stone which the company has covered
during its journey. In the summer training, it is necessary for the student that he /she
involve with the experience guys to get the knowledge about the company. That is how
the company has got the success, Or if it is going in the loss, why.

In my training period I have found that the reliance group is the biggest group in Indian
companies. I felt that I can learn the more in the Reliance General Insurance Limited.
Reliance General Insurance Limited is the part of the Reliance Capital Limited which is a
growing company in the financial products.

Reliance Anil Dhirubhai Ambani group is also deals in communication, energy, natural
resources, media, and entertainment, healthcare and infrastructure

CHAPTER-1.8
LIMITATIONS OF THE STUDY

34
 1. The survey is confined to Chennai City only.

2. The findings and suggestions are applicable only for Chennai City.

3. Time resources were limited and so the sample size is reduced to 60.

4. Cost incurred a lot while collecting samples.

5. The information obtained from the respondent may be biased.

CHAPTER-2
REVIEW OF LITERATURE
35
 According to the Webster’s dictionary, literature is “the writings that pertain to a
particular branch of learning, and printed matter”. And review means “to examine again,
to study carefully”.
Therefore literature review is the printed matter which we study very carefully during our
work. This project is also a collection of insight into the different printed material.
As this project is specifically related to “STUDY ON MARKET PENETRATION IN
MEDICLIAM INSURANCE”.
The insurance institute of India has published books which give an insight into the
life insurance products and general insurance products. The main source of data through
which this project has taken its shape is the circulars of RELIANCE MONEY. These
circulars give description of existing market. The knowledge about the market
penetration is gained from the book “principles of marketing” written by Philip Kotler.
Chapter on distribution channels in the book “marketing channels” written by Louis
W.stern & add I.E.I Ansary. Purpose of this book is to provide the detailed knowledge
about what is distribution channel, its importance & role in marketing.
Last but not the least, the practical experiences of reliance money has given the best ever
exposure on the actually market works in financial products and services.
Marketing consists of the strategies and tactics used to identify, create and maintain
satisfying relationships with customers that result in value for both the customer and the
marketer.

American Marketing Association (AMA): "Marketing is the process of planning and

executing the conception, pricing, promotion and distribution of ideas, goods and services
to create exchanges that satisfy individual and organizational goals."
World Marketing Association (WMA): “Marketing is the core business philosophy which
directs the processes of identifying and fulfilling the needs of individuals and
organizations through exchanges which create superior value for all parties.”
Chartered Institute of Marketing (CIMU) [United Kingdom]: “Marketing is the
management process for identifying, anticipating and satisfying customer requirements
profitably.”

36
Marketing is an integrated communications-based process through which individuals and
communities discover that existing and newly-identified needs and wants may be
satisfied by the products and services of others.
Marketing is defined by the American Marketing Association as the activity, set of
institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society at large. The term
developed from the original meaning which referred literally to going to market, as in
shopping, or going to a market to buy or sell goods or services.

Marketing concept

The term marketing concept pertains to the fundamental premise of modern marketing.
This can be laid out as recognizing consumer needs/wants, and making products that
correlate with consumer desires.
Marketing orientations
An orientation, in the marketing context, relates to a perception or attitude a firm holds
towards its product or service, essentially concerning consumers and end-users. There
exist several common orientations:

Sales orientation
A firm using a sales orientation focuses primarily on the selling/promotion of a particular
product, and not determining new consumer desires as such. Consequently, this entails
simply selling an already existing product, and using promotion techniques to attain the
highest sales possible.
Such an orientation may suit scenarios in which a firm holds dead stock, or otherwise
sells a good that is in high demand, with little likelihood of changes in consumer tastes
diminishing demand
Marketing orientation
The marketing orientation is perhaps the most common orientation used in contemporary
marketing. It involves a firm essentially basing its marketing plans around the marketing
concept, and thus forging products to suit new consumer tastes.

37
As an example, a firm would employ market research to gauge consumer desires, use
R&D to develop a good attuned to the revealed information, and then utilize promotion
techniques to ensure persons know the good exists. The marketing orientation often has
three prime facets, which are:
Customer orientation
A firm in the market economy survives by producing goods that persons are willing and
able to buy. Consequently, ascertaining consumer demand is vital for a firm's future
viability and even existence as a going concern.
Organizational orientation
All departments of a firm should be geared to satisfying consumer wants/needs.In a
transaction in the market economy, a firm gains revenue, which thus leads to more
profits/market share/sales. A consumer on the other hand gains a need/want that is
satisfied, utility, reliability and value for money from the purchase of a good. As no one
has to buy goods from any one supplier in the market economy, firms must entice
consumers to buy goods, and thus seek to satisfy consumers' utility. If an exchange is not
mutually beneficial in nature, it is not consistent with contemporary marketing ideals.

4Ps ( Marketing mix )

In the early 1960s, Professor Neil Borden at Harvard Business School identified a
number of company performance actions that can influence the consumer decision to
purchase goods or services. Borden suggested that all those actions of the company
represented a “Marketing Mix”. Professor E. Jerome McCarthy, at the Michigan State
University in the early 1960s, suggested that the Marketing Mix contained 4 elements:
product, price, place and promotion.
• Product: The product aspects of marketing deal with the specifications of the
actual goods or services, and how it relates to the end-user's needs and wants. The scope
of a product generally includes supporting elements such as warranties, guarantees, and
support.
• Pricing: This refers to the process of setting a price for a product, including
discounts. The price need not be monetary; it can simply be what is exchanged for the

38
product or services, e.g. time, energy, or attention. Methods of setting prices optimally
are in the domain of pricing science.
• Placement (or distribution): refers to how the product gets to the customer; for
example, point-of-sale placement or retailing. This third P has also sometimes been called
Place, referring to the channel by which a product or service is sold (e.g. online vs.
retail), which geographic region or industry, to which segment (young adults, families,
business people), etc. also referring to how the environment in which the product is sold
in can affect sales.
• Promotion: This includes advertising, sales promotion, including promotional
education, publicity, and personal selling. Branding refers to the various methods of
promoting the product, brand, or company.
These four elements are often referred to as the marketing mix, which a marketer can use
to craft a marketing plan.
The four Ps model is most useful when marketing low value consumer products.
Industrial products, services, high value consumer products require adjustments to this
model. Services marketing must account for the unique nature of services.
Industrial or B2B marketing must account for the long term contractual agreements that
are typical in supply chain transactions. Relationship marketing attempts to do this by
looking at marketing from a long term relationship perspective rather than individual
transactions.
As a counter to this, Morgan, in Riding the Waves of Change (Jossey-Bass, 1988),
suggests that one of the greatest limitations of the 4 Ps approach "is that it unconsciously
emphasizes the inside–out view (looking from the company outwards), whereas the
essence of marketing should be the outside–in approach".

CHAPTER-3

39
 RESEARCH METHODOLOGY

Research methodology is a way to systematically solve the research

problem. It may be understood as science of studying how research is done scientifically.
In it we study the various steps that are generally adopted by a researcher in studying his
research problem along with the logic behind them. It is necessary for the researcher to
know not only the research methods techniques but also methodology.

Research Design Analytical research

Method of Data Collection Primary and Secondary Data
Research Tool Questionnaire
Contact Mode Direct Contact

CHAPTER-3.1
DEFINITION OF RESEARCH
Research is defined as a scientific and systematic search for on a specific topic. In
short, the search for knowledge through objective and systematic method of finding
solution to the problem is research. The main phrase of research includes statement of
the problem, forming of objective, data collection, analysis and its interpretation.

CHAPTER-3.2
RESEARCH DESIGN

40
 Research design is some statement or specification of procedure for collecting and
analyzing the information required for the solution of some specific problem. It provides
a scientific framework for conducting some research investigation.
The procedure and the plan for collection and analysis of the information can be
outlined once the problem is formulated and the objectives of the investigation are listed.

ANALYTICAL RESEARCH

Analytical research includes survey and fact-finding enquiries of different kinds.

The major purpose of Analytical research is description of the state of affairs, as it exists
at present. The main characteristic of this method is that the research has no control over
the variables; he has only report what has happened or what is happening.

A survey research has been conducted where by the information has been gathered from
the respondents by administering questionnaires through direct interview.

CHAPTER-3.3
SAMPLING METHOD

SAMPLING POPULATION

41
The first step in the sampling is the definition of the population, which can be defined in
terms of element, sampling unit’s extent & time. The attributes that are the object of
study are referred to as characteristics and the unit is generally described as population.
Here population is the residents in Chennai

SAMPLING METHOD:
The approach for the present study is a non-probabilistic approach since the study
is descriptive in nature. The method chosen for the study was convenience sampling.

SAMPLING UNIT
This answer who is to be surveyed. The researcher must define the target
population that has to be sampled. Once this is determined a sampling frame is developed
so that everyone in the population has an equal or known chance of being selected.

SAMPLING FRAME:
A sample frame is a means of representing the elements of the population. A list
containing all elementary units which form the basis of sampling process is called the
sampling frame. Thus it consists of list of items from which the sample is to be drawn.
Some of them are the non existing consumers, corporate offices and direct contact etc.
A sample frame is required if a probability sample is to be taken. Since the present study
is non-probabilistic in nature, a sampling frame has not been defined.

SAMPLING SIZE:
It is an important decision that has to be taken while adopting the sampling
technique. It means the number to sampling units selected from the population for
investigation. The total sample size is 60.

CHAPTER-3.4
METHOD OF DATA COLLECTION:

42
 According to the information needs, the sources of data are chosen. There are two
types of information primary data and secondary data.
Primary data refer to information obtained firsthand by the researcher on the
variables of interest for the specific purpose of the study. Apart from the individuals who
provide information when interviewed, administered Questionnaires
Secondary data is provided either through internal sources i.e., within the firm or
through external sources i.e., website, builders, library and corporation officers from
outside the firm.
According to the information needs of the present study, primary data was collected. The
borrowers being the main source of information, the target respondents where those
living within Chennai.

METHOD OF DATA COLLECTION:

After selecting the type and sources of information required a data collection
measurement technique was developed. The option available for data collection is.
 Questionnaire
The method most suitable for the study is questionnaire method which was concluded
after identifying the information needs of the study. Hence it was adopted by the
researches. The questionnaire for the study consisted of close-ended questions for
analyzing and interpreting better results.

CONTACT METHOD
PERSONAL INTERVIEWS

This is the most suitable method to have better response and to have clear picture
of their opinions.

CHAPTER-3.5
STATISTICAL TOOLS USED:
The data after collection has to be processed and analyzed with the outline laid
down for the purpose at the time of developing the research plan. This is essential for a

43
scientific study and ensuring that we have all relevant data for making contemplated
analysis.

Statistical tools used for the study:

 Percentage Analysis

Percentage Analysis:

Percentage Analysis is one of the traditional statistical

tools. The data in this method are reduced in the standard from with base equal to
hundred which facilitates relative comparison. Formulae used to calculate percentage
analysis is:

Number of Respondents

Percentage of Respondents = X 100

Total Respondents

CHAPTER-4
ANALYSIS AND INTERPRETATION
TABLE 4.1
Table showing AGE PROFILE OF THE RESPONDENTS

44
 Age Group Response Percentage

30-40 12 20%
40-50 30 50%
>50 18 30%
Total 60 100%
Interpretation:
From the above table it is clear that 50% of the respondents fall under the
age group between 40-50, whereas 30% fall under the age group above 50years and 20%
fall under the age group of less than 30 years
The above table is depicted in the following chart

CHART 4.1
Chart showing AGE PROFILE OF THE RESPONDENTS

30

25

20
30-40
15
40-50
10 >50
5

0
Response

45
 TABLE 4.2
Table showing ANNUAL INCOME OF THE RESPONDENTS

Income Response Percentage

<2 Lakhs 17 28%
2-5 Lakhs 24 40%
>5 Lakhs 19 32%
Total 60 100%

Interpretation:
From the above table it is clear that 40% of the Respondents earns
between 2-5 lakhs, while 32% of the respondents are those who earn above 5 lakhs.
There exists 28% of the respondents earns less than 2 lakhs.
The above table is depicted in the following chart

CHART 4.2
Chart showing ANNUAL INCOME OF THE RESPONDENTS

46
 25

20

15 <2lakhs
2-5lakhs
10
>5lakhs
5

0
Response

TABLE 4.3
Table showing OCCUPATION OF THE RESPONDENTS

Occupation Response Percentage

Business 16 27%
Professional 19 31%
Employed 25 42%
Total 60 100%

Interpretation:
The nature of occupation plays a vital role in studying the ratio of
population. The above displayed statistical data shows that 27% of the respondents are
businessmen, 31% of them are professionals and 42% of the respondents are found to be
employees
The above table is depicted in the following chart

CHART 4.3

47
 Chart showing OCCUPATION OF THE RESPONDENTS

25

20

15
Business
professional
10
employed

0
Response

.
TABLE 4.4
Table showing RESULT OF PERCENTAGE OF SAVING SPEND FOR MEDICAL
EXPENSES

Percentage Response Percentage

Upto10% 24 40%
Upto25% 14 23%
Upto50% 12 20%
>50% 10 17%
Total 60 100%

Interpretation: This shows that people save only up to 10% of their earnings for the
medical expenses. Hence, effective and efficient steps should be taken to woo the
customers to save that money for mediclaim insurance.
The above table is depicted in the following chart
CHART 4.4
Chart showing RESULT OF PERCENTAGE OF SAVING SPEND FOR MEDICAL
EXPENSES

48
 25

20

15 upto10%
upto25%
10 upto50%
above50%
5

0
Response

TABLE 4.5
Table showing PEOPLE WITH ENOUGH ASSETS STILL NEED A MEDICLAIM
POLICY

Still need a policy Response Percentage

YES 41 67%
NO 19 33%
TOTAL 60 100%

Interpretation: The chart shows that respondents having enough assets to maintain their
family medical expenses, though but them still need medicliam insurance is 67%. But
there are people who don’t need mediclaim insurance are 33%, hence company have to
take some step’s to reduce it.
The above table is depicted in the following chart

CHART 4.5
Chart showing PEOPLE WITH ENOUGH ASSET STILL NEED A MEDICLAIM
POLICY

49
 45
40
35
30
25
yes
20
no
15
10
5
0
Response

TABLE 4.6
Table showing PEOPLE HAVE A MEDICAL COVER UNDER EMPLOYEE SCHEME
STILL NEED A MEDICLAIM POLICY

Still need a policy Response Percentage

YES 26 43%
NO 34 57%
TOTAL 60 100%

Interpretation: The chart shows that respondents having a medical cover under employee
schemes still they need mediclaim policy is 43%, which is less then the respondents
doesn’t need a policy is 57% . So that company has to take some action to cover the
employed people.
The above table is depicted in the following chart

CHART 4..6
Chart showing PEOPLE HAVE A MEDICAL COVER UNDER EMPLOYEE SCHEME
STILL NEED A MEDICLAIM POLICY

50
 35
30
25
20
yes
15
no
10
5
0
Response

TABLE 4.7
Table showing PURPOSE OF AVAILING MEDICLIAM INSURANCE
PURPOSE RESPONSE PERCENTAGE
HEALTH PROTECTION 28 47%
TAX BENEFITS 26 43%
OTHERS 6 10%
TOTAL 60 100%

Interpretation: The chart show’s that the respondents avail medicliam insurance for the
purpose of Health protection is 47%, Tax benefits is 43%, and others is 10%. Health
protection & Tax benefits are in nearest percent, company has to concentrate on both the
plans.
The above table is depicted in the following chart

CHART 4.7
Chart showing PURPOSE OF AVAILING MEDICLIAM INSURANCE

51
 30

25

20
Health protection
15
Tax benefits
10 others

0
Response

TABLE 4.8
Table showing RESULT OF AWARENESS OF POLICY SCHEAM’S

AWARENESS Response Percentage

YES 21 35%
NO 39 65%
Total 60 100%

Interpretation: Although there is high brand equity among the target audience yet, it is
to be noted that the customers are not aware of the policy’s provided by the company
meaning thereby, that, the company should concentrate more towards promotional tools
and increase its focus on product awareness rather than brand awareness
The above table is depicted in the following chart
CHART 4.8
Chart showing RESULT OF AWARENESS OF POLICY SCHEAM’S

52
40
35
30
25
20 yes
15 no

10
5
0
Response

TABLE 4.9
Table showing MODE OFAWARENESS

Mode Response Percentage

Media advertising 22 37%
Friends & relatives 9 15%
Hoardings 6 10%
Agents 23 38%
Total 60 100%

53
Interpretation: The chart show’s that the mode of awareness of policy’s to the
respondents through Media advertising is 37%, friends & relatives is 15%,agents is 38%
and the hoardings is 10%, company have to concentrate on media advertising, agent’s so
tat the policy awareness spread to all the people.
The above table is depicted in the following chart

CHART 4.9
Chart showing MODE OFAWARENESS

25

20 Media
Advertising
15 friend's &
Relatives
10 Hoardings

5 agent's

0
Response

CHAPTER-5
FINDINGS

1. About 50% of the respondents belonged to the age group of 30-40 years.
2. About 40% of the respondents come from the income category of Rs 2 -5 lakhs.
3. About 38% of the respondents found Media advertising as the most effective tool
And 37% of the respondents found Agents as the most effective tool
4. Most of the respondents (42%) are found to be in Employment.

54
 5. Most of the people feel that mediclaim insurance is essential but they think that
life insurance polices are better
6. Although there is high brand equity among the target audience, yet it is to be
noted that the customers are not aware of the polices provided by the company
7. Most of the respondents (67%) are having enough assets to see their family
through but the people still need a medicliam insurance policy.
8. Employed respondents (57%) having a medical cover under employee schemes do
not need a added medicliam policy.

CHAPTER-6
SUGGESTIONS & RECOMMENDATIONS
The most vital problem spotted is of ignorance. Insurer should be made aware
of the benefits. Nobody will invest until and unless he is fully convinced. Insured should
be made to realize that ignorance is no longer bliss and what they are losing by not taking
insurance.
The advisors may try to highlight some of the value added benefits of Mediclaim
insurance such as Income Tax Benefit, Family Floater, Sum Insured, Pre-insurance
Health Check up, Renewal Discount, Cashless Facility (Through Third Party

55
Administrators – TPA etc. these benefits are not offered by other options single-
handedly. So these are enough to drive the insurer towards mediclaim insurance. Insurer
could also try to increase the spectrum of services offered

• Reliance Money has to add some extra features in it with aggressive marketing
promotional strategy.
• The company should concentrate more towards promotional tools and increase its
focus on product awareness rather than brand awareness
• Product must be improved
• Media Advertisement and Agents is the main source of attraction so the company
must advertise its products heavily.

CHAPTER-7
CONCLUSION
With the globalized economy and immense competition among countries
for faster development of their respective economies, the significance of Insurance and
Foreign investment has taken manifold. Importance and the role of Insurance, Mutual
funds and FIIs play in the Indian stock market can be seen from the fact that the recent
surge in Sensex and NIFTY is attributed to the active participation of FIIs in the Stock
Market

56
 All though relatively new entrants are in the market, Reliance is slowly but
surely gaining a strong hold because it is finally able to grasp the investment climate in
Chennai. Secondly, the branch managers at all the branches are very knowledgeable with
a lot of experience in the financial markets so under their leadership can definitely
expand its base.
A good brand is always welcomed here and people are more aware and
conscious for the brand so they go for they are ready to spend some extra bucks for the
quality. Right now Reliance is at its nascent stage and will surely grab the major market
under its belt very soon like in other fields At last all cons are concluded by that Reliance
Money is still growing industry in India and is still exploring its potential and prospects
in here.

QUESTIONNAIRE

STUDY ON MARKET PENETRATION IN MEDCLIME INSURANCE

Dear Respondent, I kindly request you to spend your valuable time in filling up the
questionnaire.

57
PERSONAL DETAILS

Name …………………………………..
Address …………………………………..
…………………………………..
Age ( ) 30-40 ( ) 40-50 ( ) >50
Annual Income
( ) < 2 lakhs ( ) 2 lakhs – 5 lakhs ( ) > 5lakhs
Occupation
( ) Business ( ) Profession ( ) Employed
Contact no …………………………………

1) What percentage of your savings would you spend for the medical expenses
( ) <15% ( ) 15% - 20% ( ) >20%

2) How often do you have a medical check up

( ) Yearly ( ) only when I take a insurance policy

3) You have enough asset to see your family through

( ) Yes ( ) No

3, a) Do you still needs a mediclime policy?

( ) Yes ( ) No

4) Do you have a medical cover under employee scheme

( ) Yes ( ) No

4, a) Do you still needs a mediclime policy?

( ) Yes ( ) No

58
5) Does your health policy cover all your family members, and illnesses as well
( ) Yes ( ) No

6) Purpose of availing medical insurance

( ) Health Protection ( ) Tax benefits ( ) others

7) Are you aware of Reliance Medicliam policy schemes

( ) Yes ( ) No

8) Mode of awareness of policy’s

( ) Media Advertising ( ) friends& relatives ( ) Hoarding’s ( ) Agents

We offer you a free advisory service, kindly mention the suitable time
for calling______

BIBLIOGRAPHY

 Marketing Management (2002 Edition) – Philip Kotler

 Research methods for business (Fourth Edition)-Uma Sekaran

 Research Methodology (Second Edition)-C.R.Kothari

 www.reliancemoney.com
 www.marketingteacher.com

 www.google.com

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