Reliance Life Insurance Among The Other Insurance (Marketing)

ANIL DHIRUBHAI AMBANI GROUP
OF
RELIANCE LIFE INSURANCE AMONG THE OTHER INSURANCE
PROVIDER IN BHUBANESWAR MARKET
BY
MANJEET KUMAR (PGDM 07-09)
REGIONAL COLLEGE OF MANAGEMENT
CONTENTS
1. ACKNOWLEDGEMENT
2. OBJECTIVE
RELIANCE LIFE INSURANCE COMPANY LIMITED
3. SCOPE OF STUDY
4. SUMMARY
5. INTRODUCTION(COMPANY PROFILE)
6. PLANS AND POLICY
7. MAIN BODY
8. METHODOLOGY
9. DATA ANALYSIS
10.CONCLUSION
11.RECOMENDATION
ACKNOWLEDGEMENT
I would also like to express my deep sense of gratitude to Mr.

Jyotisman Jena of Reliance life Insurance,
opportunity
to
make
myself
acquainted
who has given me this

with
the
professional
atmosphere of the enterprise.
At last but not the least I am also thankful to the staff members of M/s
Reliance Life Insurance Limited, Cuttak, who have extended their
helping hands for the successful completion of my project work.
Place: Bhubaneswar
Date: 16-08-2008
Manjeet kumar
(Signature)
OBJECTIVES
Objectives of the study:
As the whole activity was concentrated on the partial fulfillment of my PGDM course
as well as some real contribution from me towards this esteemed organization, in
my opinion the objectives of the study are as follows :
To determine the Market Share of Reliance Life Insurance along with
other Insurance provider in Bhubaneswar market.
To find the level of satisfaction in customer mind.
To determine the stimuli that guide the consumers towards enjoying the RLI
service.

The organization in my view in its attempt to reach to the channel partners
has given me this responsibility.
As an individual had accepted this study because of its feature of getting
interacted at the grassroots level of business.
SCOPE OF THE STUDY

The geographical jurisdiction of the research study in the city of
Bhubaneswar. The data were collected the middle class , upper middle
class, higher income group people. The research study in concerned
with Market Share of RLI among the other Insurance Provider in
the Bhubaneswar market to other leading Insurance Provider
available in the present market scenario.
Lastly all the recommendations are based on the analysis of the
respondents opinion which were collected through carefully planned
questionnaires.
SUMMARY
The fundamental concepts, which lead to the strategic thinking and policy
formulation in any, corporate what so ever can be any and if not all of the entities
as motioned in the following line.
The Company
Growth and sustaining of Insurance provider
Challenges of competition and overcoming them
New growth areas
Focus on ultimate sales
Consideration of competitors
Deeper commitment to a major segment of the local market
Strategic alliances.
The list above is not to be misunderstood to be the ultimate list as the entities are
numerous and entirely dependent on the variable factors like the time, competitors
and the situation in the market as a whole.
The study was undertaken in and nearby areas of the city of Bhubaneswar to know
Market Penetration of Reliance life insurance among the other Insurance Provider in
the Bhubaneswar Market. from the house of Reliance Capital Limited. The several
features of this report can be summarized in the following paragraphs.
The figures appendices etc used in the report are mentioned page wise in
the section titled as list of figures charts and appendices.
The objective and background on which the project work and the relative
activities are undertaken are outlined in the introduction section.
Various information regarding RIM of Reliance Industries Limited like;

o
The Back ground and history of the Company

o
The information regarding its service facilities
Outlined in the Company Profile section
The section named Main Body is the prime section of the report where
just everything in terms of
Concepts behind the report title
Has been describe in a illustrative manner
The Suggestions derived from the findings and analyses have been
outlined in the Recommendations section.
The conclusion section is the end mark of the report, which contains
the remark or the comment on the whole activities and these are
generally derived from the comments of the interviewee and
represented in the current business environmental language.
The bibliography section contains a details list of books articles etc.

used for giving the report a complete shape in terms of thesis of
reference note for future purpose.
The appendices section serves as the annexure and contains a sample

of the questionnaires used for the purpose of interview with the
customers.
Company Profile
Reliance Capital Ltd is a part of the Reliance - Anil Dhirubhai Ambani Group, and is
ranked among the 20 most valuable private companies in India.
Reliance Capital is one of India's leading and fastest growing private sector financial
services companies, and ranks among the top 3 private sector financial services
and banking groups, in terms of net worth.
Allsec has since replicated this successful Client Account Plan across a list of other
global outsourcers, a list that includes, among others,
Reliance Capital has interests in asset management and mutual funds, life and
general insurance, private equity and proprietary investments, stock broking,
depository services, distribution of financial products, consumer finance and other
activities in financial services.
The Reliance Anil Dhirubhai Ambani Group is one of India's top 2 business houses,
and has a market capitalization of over Rs.2,25,000 crore (US$ 53 billion), net worth
in excess of Rs.58,000 crore (US$ 14 billion), cash flows of Rs. 12,000 crore (US$ 3
billion) and net profit of Rs. 8,000 crore (US$ 2 billion).
Reliance Capital has interests in asset management and mutual funds, life and
general insurance, private equity and proprietary investments, stock broking,
depository services, distribution of financial products, consumer finance and other
activities in financial services.
Reliance Mutual Fund is India's no.1 Mutual Fund. Reliance Life Insurance is India's
fastest growing life insurance company and among the top 4 private sector insurers.
Reliance General Insurance is India's fastest growing general insurance company
and the top 3 private sector insurers. Reliance Money is the largest brokerage and
distributor of financial products in India with more than 2.5 million customers and
the largest distribution network. Reliance Consumer finance has a loan book of over
Rs. 8,000 crores at the end of June 2008.
Reliance Capital has a networth of Rs.6,862 crores (US$ 1.6 billion) and total assets
of Rs. 19,940 crores (US$ 4.6 billion) as of June 30, 2008 and over 26,000
employees.
Reliance Capital Ltd.'s Code of Ethics is in alignment with its values and
commitments. The Essence of this code is that each employee should conduct the
Company's business in a way That upholds its values and commitments. This code
expects every employee to conduct business with integrity, in compliance with
Applicable laws, and in a manner that excludes consideration of direct or indirect
personal Advantage / gains. It is the individual responsibility of each one of Reliance
Capital Ltd.'s

Employees to ensure that all of us are aware of these values, commitments, and
procedures, and behave in accordance with the spirit as well as the letter of this
code.
Reliance Capital Ltd. recognizes that it is vital that the behaviour of its employees
matches the high intentions and values. Hence, adherence to all the elements of
this code and the accompanying principles and procedures is necessary. The
principles and procedures in this Code of Ethics apply to all material transactions,
large or small, and describe the conduct
expected of every Reliance Capital Ltd employee.
Conflict of Interest
Payments and Gifting
Receipt of Gifts
Purchases through suppliers and other service providers
Regarding full-time consultants, agents, representatives and others
Political Contributions
Products & Services
Reliance Mutual Fund (RMF), a part of the Reliance - Anil Dhirubhai Ambani Group, is
India's leading Mutual Fund, with average Assets Under Management of Rs. 90,813
crores for the month of June 2008, and an investor base of over 6.7 million.
Reliance Mutual Fund offers investors a well rounded portfolio of products to meet
varying investor requirements. Reliance Mutual Fund has a presence in 300 cities
across the country and constantly endeavors to launch innovative products and
customer service initiatives to increase value to investors. Reliance Mutual Fund
schemes are managed by Reliance Capital Asset Management Ltd., a wholly owned
subsidiary of Reliance Capital Ltd.
Reliance General Insurance, a part of the Reliance Anil Dhirubhai Ambani Group and
a subsidiary of Reliance Capital, is one of the first non-life companies to get the
license from the IRDA. Reliance General Insurance is India's fastest growing general
insurance company and the top 3 private sector insurers.
Reliance General Insurance has 225 branches across 171 cities and over 21,000
intermediaries.
Reliance General Insurance offers an exhaustive range of insurance products that
covers most risks including Auto, Health, Home, Property, Travel, Marine and
Commercial.
Reliance Life Insurance, a part of the Reliance Anil Dhirubhai Ambani Group is
India's fastest growing life insurance company and among the top 4 private sector
life insurers.
Reliance Life Insurance has a pan India presence and a range of products catering
to individual as well as corporate needs. Reliance Life Insurance has over 750
branches and 200,000 agents.

It offers 27 products covering savings, protection & investment requirements.
Reliance Life Insurance will endeavor to attain a leadership position in the market
over the next few years, by further expanding and strengthening its distribution
network and offering a diverse array of products to suit the varied and specific
needs of individual customers
Reliance Money, a part of the Reliance Anil Dhirubhai Ambani Group is Indias
largest brokerage and distributor of financial products.
Reliance Money commenced commercial operations in April 2007 and has over 2.5
million customers and 9,700 outlets in more than 5,000 locations across India.
Reliance Money is a comprehensive electronic transaction platform offering a wide
range of asset classes. Its endeavor is to change the way India transacts in financial
markets and avails financial services. Reliance Money is a single window, enabling
you to access, amongst others in Equities, Equity & Commodities Derivatives,
Mutual Funds, IPOs, Life & General Insurance products, Offshore Investments,
Money Transfer, Money Changing and Credit Cards.
Reliance Consumer Finance marks the entry of Reliance Capital Ltd. into the
expanding consumer finance segment. With a wide range of products which
includes Personal loans, Vehicle loans (car and commercial), Home Loans , Loan
Against Property and SME loans, this division strengthens the presence of Reliance
Capital Ltd. in the retail finance segment . The primary focus of Reliance Consumer
Finance is to build a quality loan portfolio and it has set up a risk management
framework to achieve this.
Reliance Asset Reconstruction Company is a premier asset reconstruction company,
the principal sponsor / shareholder of which is the Reliance ADA group (through
Reliance Capital Limited). The other sponsors / shareholders are Corporation Bank,
Indian Bank, GIC of India, Dacecroft and Blue Ridge.
Reliance Asset Reconstruction aspires to be the leading player in a healthy and
robust financial market place targeted at economically beneficial resolution of NPAs
and thereby contribute to the growth and development of the economy.
Historic Events / Press Room

Reliance Money joins hands with Chellarams to enter Nigeria
Reliance Money in Wealth Management Services
Reliance Money ties up with NDTV Profit
Reliance MF introduces insurance for 10 equity funds
Reliance Money enters HK, China

Reliance Money ties up with Sify Technologies
Parsoli, RMoney launch scheme to ture Muslim investors
Reliance MF first to cross Rs 1lakh cr AUM mark
Reliance Money ties up with Triveni Group's retail chain
ADAG, BSE tie up for bullion trade
Reliance Money launches loyalty card for customers
RMoney, Recognia to offer chart patterns for retail broking customers
Reliance Money bags IT award
Reliance MF top gainers in February
Reliance Capital forays into microfinance
Rel Money launches portfolio scheme
Reliance Money takes gold to massages
RCom to focus on sports related sponserships
Reliance group scrips help NSE score record turnover
Anil Ambani returns as No 2 billionaire
RCom enters Mobile-based remittance
Reliance Money, Motilal Oswal top broking firms
Protection Plans
In todays uncertain world, there could be calamity at every step of the life. It is up to you to
ensure that your family stays protected always.
Reliance Protection Plans helps you do exactly the same. You have a wide range of options to
choose a plan from. Right from limited period plans to lifetime protection plans, you can opt for
the one that suits your lifestyle.
While we understand that nothing can compensate for the loss of a life, we intend to provide you
the peace of mind. Investing in Reliance Protection Plans would mean your familys future is in
safe hands.
Savings & Investment Plans
In life, you have always given your family whatever they have wanted. Yet, there are some
promises you have to fulfil, such as taking your family for a vacation, or buying that dream
house.
Set aside some money to achieve these specific goals with the help of Reliance Savings &
Investment Plans. The plan allows you to experience the joys of life and provide for your familys
needs
Retirement Plans
You are a young and earning individual. The income you earn allows you to enjoy life, your only
worry being whether you will be able to continue the same lifestyle after retirement.
A Reliance Retirement Plan will help you save money for your retirement. It ensures that you
continue to get some income after retirement thereby ensuring that you do not have to depend
on any other person or make any compromises to maintain the same lifestyle.
Invest in a Reliance Retirement Plan today and enjoy life after retirement on your own terms.
Child Plans

Being a parent is one of the joys of life. Your child looks up to you and depends on you for love,
protection and support. You want to provide your child with the best in life.
The Reliance Child Plan helps you save systematically so that you can secure your childs
future needs. Be it higher education, his or her first home or any other requirement, you will
always be there for your child when he or she needs you.
So, invest in a Reliance Child Plan right awayit is the best gift you could ever give your child.
Protection Plans
Reliance Term Plan
Invest in the Reliance Term Plan, a pure life insurance plan that offers you
comprehensive and affordable coverage for a limited period of time to suit your
needs.
Reliance Simple Term Plan

Make a smart investment move by investing in the cost-effective Reliance
Simple Term Plan, which offers you comprehensive coverage for a specified
period of time to suit your needs.
Reliance Special Term Plan

Imagine a life insurance policy, which on maturity returns to you all the
premiums you had paid for your basic policy. The Reliance Special Term Plan
offers that and much more.
Reliance Credit Guardian Plan

The Reliance Credit Guardian Plan secures your family from any loan liabilities
you have incurred in case of your untimely demise. On survival at maturity, you
will be returned all the premiums paid for the basic policy.
Reliance Special Credit Guardian Plan

Invest in the Reliance Special Credit Guardian Plan and protect your family from
any loan liabilities you have incurred. On survival at maturity, all premiums paid
for the basic policy will be returned to you.
Reliance Endowment Plan

The Reliance Endowment Plan gives you financial independence by allowing
you to decide the amount of Sum Assured based on your current financial
position and expected future expenses Dream!!.
Reliance Special Endowment Plan

Imagine an endowment plan that protects you for a certain period even after you
have received your lump sumthat is exactly what the Reliance Special
Endowment Plan offers you with other added benefits.
Reliance Connect 2 Life

The Reliance Connect 2 Life Plan gives you the option to upgrade your life
cover to keep pace with your changing lifestyle. As your income grows, your
family will have sufficient cover.
Reliance Whole Life Plan

Give your family a lifetime of timely financial support by investing in the Reliance
Whole Life Plan. This will help you enjoy your life to the fullest.
Reliance Wealth + Health Plan

Invest in the Reliance Wealth Health Plan and balance your health needs and
wealth needs, without compromising on either health or wealth.
Reliance Cash Flow Plan

Invest in the Reliance Cash Flow Plan and reap the dual benefits of a life
insurance plan and easy liquidity through lump sum cash, which means you can
get a percentage of the Sum Assured at periodic intervals.
Savings & Investment Plans

Reliance Super Invest Assure Plan
Reliance Super InvestAssure is a complete plan which addresses your vital
needs like Flexibility, Security, Investment Return and Financial Planning.
With all its key benefits, it is here to ensure that there will always be more
than you can ask for!...
Total Investment Plan I - Insurance

Reliance TIPS -Series I- Insurance is a Unit Linked Investment + Insurance
Plan that helps you meet all your financial needs, without the complexity of
managing multiple products...

Invest in the Reliance Wealth Health Plan and balance your health needs
and wealth needs, without compromising on either health or wealth...
Reliance Automatic Investment Plan

The Reliance Automatic Investment Plan is an enhanced unit linked plan that
allows you to choose the right investment mix to reap maximum benefits. It
also provides you with enhanced Life Cover...
Reliance Money Guarantee Plan

To reap the benefits of a rising market and to protect yourself from any
market decline, invest in the unit linked Reliance Money Guarantee plan that
gives you the perfect balance between Protection and Savings...
Reliance Cash Flow Plan

Invest in the Reliance Cash Flow Plan and reap the dual benefits of a life
insurance plan and easy liquidity through lump sum cash, which means you
can get a percentage of the Sum Assured at periodic intervals...
Reliance Market Return Plan

The Reliance Market Return Plan gives you insurance protection and allows
you to benefit from investment growth. It works through your life and meets
the changing requirements you may have from time to time...
Reliance Endowment Plan

The Reliance Endowment Plan gives you financial independence by allowing
you to decide the amount of Sum Assured based on your current financial
position and expected future expenses...
Reliance Special Endowment Plan

Imagine an endowment plan that protects you for a certain period even after
you have received your lump sumthat is exactly what the Reliance
Special Endowment Plan offers you with other added benefits...
Reliance Whole Life Plan

Give your family a lifetime of timely financial support by investing in the
Reliance Whole Life Plan. This will help you enjoy your life to the fullest...
Reliance Golden Years Plan

The Reliance Golden Years Plan helps you save systematically and
generate the much-needed corpus to help you enjoy life after retirement...
Reliance Golden Years Plan Value

Realise all your dreams of playing golf, or going for a world tour after
retirement by investing in the Reliance Golden Years Plan Value, which
helps you generate the amount you will need for the future...
Reliance GoldenYears Plan Plus

Invest in the special Reliance Golden Years Plan Plus that not only helps you
build the corpus you need after, but also collects a basic minimum amount in
case something were to happen before you realise your dreams...
Reliance Connect 2 Life Plan

The Reliance Connect 2 Life Plan gives you the option to upgrade your life
cover to keep pace with your changing lifestyle. As your income grows, your
family will have sufficient cover...
Retirement Plans
Total Investment Plan II - Pension
When you invest in the Reliance Total Investment Plan, you give yourself the
assurance that you will make each one of your dreams come true!...
Reliance Golden Years Plan

The Reliance Golden Years Plan helps you save systematically and generate
the much-needed corpus to help you enjoy life after retirement...
Reliance Golden Years Plan Value

Realise all your dreams of playing golf, or going for a world tour after
retirement by investing in the Reliance Golden Years Plan Value, which helps
you generate the amount you will need for the future...
Reliance Golden Years Plan Plus

Invest in the special Reliance Golden Years Plan Plus that not only helps you
build the corpus you need after, but also collects a basic minimum amount in
case something were to happen before you realise your dreams...

Reliance Automatic Investment Plan

The Reliance Automatic Investment Plan is an enhanced unit linked plan that
allows you to choose the right investment mix to reap maximum benefits. It
also provides you with enhanced Life Cover...
Reliance Money Guarantee Plan

To reap the benefits of a rising market and to protect yourself from any
market decline, invest in the unit linked Reliance Money Guarantee plan that
gives you the perfect balance between Protection and Savings...
Child Plans
Reliance Super InvestAssure Plan
Reliance Super InvestAssure is a complete plan which addresses your vital
needs like Flexibility, Security, Investment Return and Financial Planning.
With all its key benefits, it is here to ensure that there will always be more
than you can ask for!...
Reliance Child Plan

Save systematically and secure the financial future of your child by investing
in the Reliance Child Plan and let your child enjoy today without worrying
about tomorrow...
Reliance Secure Child Plan

Reliance Life Insurance presents a unit linked insurance plan that secures
your childs financial future, leaving you free from worry ...

MARKET PENETRATION
Reliance Life Insurance plans to open 20 branches in Punjab in the current fiscal.
CEO of the company, P Nandgopal launching the new offering 'Express Life', claimed
to be the offering is the fastest way of getting a life insurance cover. Talking to FE
on the sidelines of the launch he said that the company had high expectations from
Punjab, the state which has a vibrant economy. He said that each of the 19 districts
of the state will have atleast one branch.
Nandgopal said that the insurance industry is a Rs 75,000 crore industry and there
was room for the players in this market. He agreed that Reliance Life Insurance was
a relatively new entrant in the market but added that it was ranged fifth among all
the private sector insurance players.
He claimed that the growth of Reliance Life Insurance during August 2007 over
August 2006 was 358% as against industry growth of about 30%. The company had
seven per cent share of the life insurance market, he claimed. He said that in
insurance penetration, India would beat China by 2010
LIC and Reliance Life Long Good Health

Insurance Sales
Health is wealth - and that's certainly the case for Indian life insurers. Nearly 40
days after their entry into the long-term unit-linked health insurance business, the
two life insurers - Life Insurance Corporation of India (LIC) and Reliance Life
Insurance Company Limited - have been logging good business.
The Asian insurance giant LIC averages around 1,200 policies per day.
"We have earned around Rs.520 million till date. We are confident of closing this
year with a premium of Rs.4 billion from our unit-linked long-term health insurance
policy Health Plus," D.D. Singh, executive director (Health), LIC, told IANS.
According to him, LIC has sold 50,000 policies till date at an average premium of
around Rs.10,000 per policy.
Given the poor penetration of health insurance products achieved by the 13 non-life
insurers in India, LIC's achievement is quite commendable.
Pleased with the positive response received from LIC's strong agency force for the
product, Singh said, "Our agents have understood this product well and that is
reflected in the sales numbers."
However the process of selling this product is different from selling other life
insurance policies.
Talking about his experience in selling Health Plus, A. Suresh Kumar Oza, an LIC
agent, said, "It takes more time to educate a prospect on the policy features and
how it works. They are more conversant with the traditional mediclaim insurance
sold by non-life insurers."
"Long-term unit-linked health insurance cannot be sold as easily as any other unitlinked life insurance policy or traditional endowment or money back policies as a tax
saving product," he added.
That apart, the necessity of submitting photographs for the issuance of identity
cards and medical reports delay enrolment in the scheme.
A combination of all these factors plus the absence of clarity on the income tax
rebate available under Health Plus perhaps made LIC to revise its target to a Rs.4
billion premium from an ambitious Rs.50 billion for this fiscal.
Confident of achieving the revised target, Singh said, "Normally LIC experiences
accelerated sales after the second week of March. We will book Rs.3.5 billion
premium with Health Plus."

Speaking about Reliance Life's experience in selling its Reliance Wealth + Health
Plan, its CEO P. Nandagopal said, "The retail response is very, encouraging,
especially from the southern markets. The average premium per policy is
Rs.15,000."
Reliance Life launched the policy soon after LIC came out with its health product.
Declining to give any sales numbers and the target for the year, he said, "We do not
believe in having product-wise business targets as we encourage our agents to
adopt a solution oriented approach."
Queried about the training given to the company's 160,000 agents, Nandagopal
said, "All our sales force has been fully trained with audio visual aids to pitch
properly. The retail response is very encouraging, especially from the southern
markets."
Reliance Life used tools like video tutorials, multi-media messaging service (MMS)
audio clips and weekly refresher programmes to drive home the salient features of
the product to its field force.
Reliance Capital to infuse Rs 1500 crore by 2010.

Anil Dhirubhai Ambani Group-owned Reliance Capital will be infusing Rs 1,500 crore
in Reliance Life Insurance Company, its 100 per cent life insurance subsidiary, by
2010. The current capital base of Reliance Life Insurance is Rs 900 crore.
This year, we have grown by 160 per cent and are targeting to grow by 200 per
cent for the remaining year. Last year, we did a business of Rs 930 crore, which we
have already crossed a few days ago. Currently, we are in 500 cities and towns and
plan to be present in 1,000 cities by the next year, said P Nandagopal, the
president and CEO of Reliance Life Insurance.
The company has plans to increase the number of branches from the present 600 to
740 by the next month.
The company has four unit-linked insurance plans (Ulips), which are the growth
drivers, contributing 90 per cent to the new business premium, while the remaining
10 per cent of the business comes from six traditional insurance products. The
company was considering introducing health insurance products, informed
Nandagopal.
Reliance Life launched another Ulip today called Reliance Secure Child Plan. In case
of total and permanent disability of a child due to an accident, Reliance Secure Child
Plan will provide fixed income at a rate of 10 per cent of the sum insured each year
to the child throughout its life.
Reliance Life has a tie-up with 15 cooperative banks and 70 corporate agents that
contribute 10 per cent to the new business premium, while the remaining 85 per

cent comes from 1.4 lakh agents.
The funds under management of the company are Rs 2,500 crore, of which 65 per
cent are in equities.
Reliance Life Insurance has increased its market share from 4.07 per cent in March
to 6.25 per cent in September. Last month, the company launched Express Life,
where it issues Ulips over the counter.
METHODOLOGY

It includes the response of customer towards the RLI among the other Insurance
providers in Bhubaneswar Market.
WORK AT THE MARKET

1. To know the best plans of the other Insurance Providers.
2. To know how many people are aware about RLI and its product.
3. Are the people are realy satisfy from the Insurance policy which they
possess.
WORK AT CUSTOMER POINT

1.
2.
3.
4.
Make the customer aware about the products.

Make the customer aware about the services of RLI.
Trying to know what is the expectation of customer.
Is RLI is able to reach upto the mark of the customer satisfaction.
DATA COLLECTION TECHNIQUE

1. Questionnaire.
2. Observation.
3. Secondary data from Internet & Newspaper.
DATA ANALYSIS
This is the market situation before the year 1999, of the insurance market. People
prefer LIC because it is a government authorized company. So that they trust it the
most.

But todays scenario has been changed people are going for more return not giving
the priority to security. They use to do insurance policy just to get more return not
for that their funds are secured .
As the total face of insurance sector has been changed its now a days termed as
WEALTH CREATION WITH SECURITY.
The picture below shows the face of insurance sector before 1999.
THIS PICTURE SHOWS THAT

INSURANCE SECTOR IS TOTALLY DOMINATED
BY LIC (LIFE INSURANCE CORPORATION OF
INDIA).
THE PRIVATE SECTOR COMPANIES NOT

HAVE ENOUGH OPPOURTUNITIES IN THE
INSURANCE MARKET OF INDIA.
There after when SEBI is came into existence
and it has got the power to regulate the
insurance companies that no any company
basically the private firms are not able to walk away from the market then the whole
scenario of insurance sector has been changed dramatically.
THIS IS THE MARKET SCENARIO OF THE INSURANCE

SECTOR NOW AS FIND BY THE MARKET SERVEY.
NOW PEOPLE ARE GOING FOR BETTER RETURN NOT
FOR MUCH SECURITY BECAUSE THEY HAVE FULL
FAITH ON SEBI.
NAME OF COMPANY
RELIANCE LIFE
INSURANCE
BAJAJ ALLIANZ
ICICI PRUDENTIAL
HDFC STANDARD
LIFE
MAX NEW YORK
LIFE
ALREADY EXIST
SATISFACTION
LEVEL
40
50
57
49
VERY SATISFIED
SATISFIED
SATISFIED
NOT SATISFIED
64
SATISFIED

SBI LIFE
INSURANCE
AVIVA LIFE
INSURANCE
METLIFE
34
VERY SATISFIED
SBI LIFE
43
SATISFIED
AVIVA OR ICICI PRU
36
VERY SATISFIED
METLIFE
CONCLUSION
After undergone a rigorous market survey on the topic of Market Penetration of

Reliance Life Insurance among the other Insurance Provider in the
Bhubaneswar Market. The following are the Concluded parts:

1.
The lunching of Reliance life Insurance service is a right move and the
customers are very satisfied by enjoying the service.
2.
RIM is not only serving the wide range of costumer in the bhubaneswar
market some other insurance providers are also in the market but due to
the service of RLI it is highly accepted in the market.
3.
Another successive move is that it offers its service from the lower class to
the upper class people.
RECOMENDATION
1.
2.
3.
4.
To focus on the competitors plan and policies.

May have the network in rural and semi urban areas.
The icon of test & picture should be clear.
To advertise in the rural and semi urban areas of the city &
give the facility of advisor at the rural and semi urban areas.
5. To reduce the minimum premium of the policies.
6. To increase the facility of the product.
7. To provide the facility of a collector in the region.
8. The bond paper should be dispatched to the customer within

seven days.
9. There should be a call for the verification of the bond paper
from the corporate office of the company.

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ANIL DHIRUBHAI AMBANI GROUP

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

I would also like to express my deep sense of gratitude to Mr.

who has given me this

atmosphere of the enterprise.

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

SCOPE OF THE STUDY

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

Growth and sustaining of Insurance provider

Challenges of competition and overcoming them

New growth areas

Focus on ultimate sales

Deeper commitment to a major segment of the local market

Various information regarding RIM of Reliance Industries Limited like;

The Back ground and history of the Company

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

The information regarding its service facilities

Outlined in the Company Profile section

Concepts behind the report title

Has been describe in a illustrative manner

The bibliography section contains a details list of books articles etc.

The appendices section serves as the annexure and contains a sample

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

ANIL DHIRUBHAI AMBANI GROUP

ANIL DHIRUBHAI AMBANI GROUP

Historic Events / Press Room

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

Savings & Investment Plans

RELIANCE LIFE INSURANCE COMPANY LIMITED

ANIL DHIRUBHAI AMBANI GROUP

Reliance Simple Term Plan

Reliance Special Term Plan

Reliance Credit Guardian Plan

Reliance Special Credit Guardian Plan

Reliance Endowment Plan

ANIL DHIRUBHAI AMBANI GROUP

Reliance Special Endowment Plan

Reliance Connect 2 Life

Reliance Whole Life Plan

Reliance Wealth + Health Plan

Reliance Cash Flow Plan

Savings & Investment Plans