Chapter 1

General introduction
Introduction

General insurance or non-life insurance policies, including automobile and

homeowners policies, provide payments depending on the loss from a particular
financial event. General insurance is typically defined as any insurance that is not
determined to be life insurance. It is called property and casualty insurance in
the U.S. and Canada and non-life insurance in Continental Europe.

Insurance other than Life Insurance falls under the category of General
Insurance. General Insurance comprises of insurance of property against fire,
burglary etc, personal insurance such as Accident and Health Insurance, and
liability insurance which covers legal liabilities. There are also other covers such as
Errors and Omissions insurance for professionals, credit insurance etc.

Non-life insurance companies have products that cover property against Fire
and allied perils, flood storm and inundation, earthquake and so on. There are
products that cover property against burglary, theft etc. The non-life companies
also offer policies covering machinery against breakdown,there are policies that
cover the hull of ships and so on. A Marine Cargo policy covers goods in transit
including by sea, air and road. Further, insurance of motor vehicles against
damages and theft forms a major chunk of non-life insurance business.

In respect of insurance of property, it is important that the cover is taken for

the actual value of the property to avoid being imposed a penalty should there be a
claim. Where a property is undervalued for the purposes of insurance, the insured
will have to bear a ratable proportion of the loss. For instance if the value of a
property is Rs.100 and it is insured for Rs.50/-, in the event of a loss to the extent
of say Rs.50/-, the maximum claim amount payable would be Rs.25/- ( 50% of the
loss being borne by the insured for underinsuring the property by 50% ). This
concept is quite often not understood by most insureds.

Personal insurance covers include policies for Accident, Health etc. Products
offering Personal Accident cover are benefit policies. Health insurance covers
offered by non-life insurers are mainly hospitalization covers either on
reimbursement or cashless basis. The cashless service is offered through Third
Party Administrators who have arrangements with various service providers, i.e.,
hospitals. The Third Party Administrators also provide service for reimbursement
claims. Sometimes the insurers themselves process reimbursement claims.

Accident and health insurance policies are available for individuals as well
as groups. A group could be a group of employees of an organization or holders of
credit cards or deposit holders in a bank etc. Normally when a group is covered,
insurers offer group discounts.

There are general insurance products that are in the nature of package
policies offering a combination of the covers mentioned above. For instance, there
are package policies available for householders, shop keepers and also for
professionals such as doctors, chartered accountants etc. Apart from offering
standard covers, insurers also offer customized or tailor-made ones.

Suitable general Insurance covers are necessary for every family. It is

important to protect ones property, which one might have acquired from ones
hard earned income. A loss or damage to ones property can leave one shattered.
Losses created by catastrophes such as the tsunami, earthquakes, cyclones etc have
left many homeless and penniless. Such losses can be devastating but insurance
could help mitigate them. Property can be covered, so also the people against
Personal Accident. A Health Insurance policy can provide financial relief to a
person undergoing medical treatment whether due to a disease or an injury.

Industries also need to protect themselves by obtaining insurance covers to

protect their building, machinery, stocks etc. They need to cover their liabilities as
well. Financiers insist on insurance. So, most industries or businesses that are
financed by banks and other institutions do obtain covers. But are they obtaining
the right covers? And are they insuring adequately are questions that need to be
given some thought. Also organizations or industries that are self-financed should
ensure that they are protected by insurance.

Very risk involves the loss of one or other kind. In older time, the
contribution by the person was made at the time of loss. Today, only one business,
which offers all walks of life, is insurance business. Owing to growing complexity
of life, trade and commerce, individual and business firms and turning to insurance
to manage various risks. Every individual in this world is subject to unforeseen
uncertainties which may make him and his family vulnerable. At this place, only
insurance helps him not only to survive but also recover his loss and continue his
life in a normal manner.

Insurance is an important aid to commerce and industry. Every business

enterprise involves large number of risks and uncertainties. It may involve risk to
premises, plant and machinery, raw material and other things. Goods may be
damaged or may be destroyed due to fire or flood. Some risk can be avoided by
timely precautions and some are unavoidable and are beyond the control of a
business. These unavoidable risks can be protected by insurance.
 Commercial lines products are usually designed for relatively small legal
entities. These would include workers' compensation (employers liability), public
liability, product liability, commercial fleet and other general insurance products
sold in a relatively standard fashion to many organisations. There are many
companies that supply comprehensive commercial insurance packages for a wide
range of different industries, including shops, restaurants and hotels.

Personal lines products are designed to be sold in large quantities. This

would include autos (private car), homeowners (household), pet insurance, creditor
insurance and others.
Definition:

Insurance contracts that do not come under the ambit of life insurance are called
general insurance. The different forms of general insurance are fire, marine, motor,
accident and other miscellaneous non-life insurance.
History:

The entire general insurance business in India was nationalized by

the Government of India (GOI) through the General Insurance Business
(Nationalization) Act (GIBNA) of 1972. 55 Indian insurance companies and 52
other general insurance operations of other companies were nationalized.

The General Insurance Corporation of India (GIC) was formed in pursuance

of Section 9(1) of GIBNA. It was incorporated on 22 November 1972 under the
Companies Act, 1956 as a private company limited by shares. GIC was formed to
control and operate the business of general insurance in India.

The GOI transferred all the assets and operations of the nationalized general
insurance companies to GIC and other public-sector insurance companies. After a
process of mergers and consolidation, GIC was re-organized with four fully owned
subsidiary companies: National Insurance Company Limited, New India
Assurance Company Limited, Oriental Insurance Company Limited and United
India Insurance Company.

GIC and its subsidiaries had a monopoly on the general insurance business
in India until the landmark Insurance Regulatory and Development Authority
Act (IRDA Act) of 1999 came into effect on 19 April 2000. This act also amended
the GIBNA Act and Insurance Act of 1938. The act along with the amendments
ended the monopoly of GIC and its subsidiaries and liberalized the insurance
business in India.

In November 2000, GIC was notified as India's Re insurer, but its

supervisory role over its subsidiaries was ended. This was followed by the General
Insurance Business (Nationalization) Amendment Act of 2002. Coming into effect
from 21 March 2003, this amendment ended GIC's role as a holding company of its
subsidiaries. The ownership of the subsidiaries was transferred to the Government
of India.

As a result of these reforms, GIC became the sole Re-Insurer in India, and is
now called GIC Re. Indian insurance companies are required by law to cede 5% of
every policy value to GIC Re w.e.f. 1 April 2013, subject to some limitations and
exceptions. GIC Re has diversified its operations and is now emerging as an
important Re-Insurer in SAARC countries, Southeast Asia, Middle
East and Africa, Europe and America. As an Indian Reinsurer with global footprint
GIC Re has expanded its international operations through branches in London,
Moscow, Dubai and Kuala Lumpur and is further planning to establish offices in
key regions.

As of 2012 GIC Re ranked 14th largest Re insurer and 4th largest Aviation
Re insurer in the world (S&P Ratings). GIC Re has a rating of A- (Excellent)
from A. M. Best for its financial strength.[4] As of 2014 GIC Re has been assigned
National Scale AAA Reliability Rating And Global Scale iA- Credit Rating by
Russian National Rating Agency (NRA).

In India, the concept of insurance was prevalent even during ancient times.
The reference of insurance is found in Rigveda with the name yogakshema
more or less related to the well being and security of the people. Hammurabi in
2100BC, formalized the concept of the civic responsibilities, bottomry and
respondentia. Bottomry and respondentia loans refer to marine contracts covering
vessels and cargo. However, there is no evidence that insurance in its present form
was practiced prior to the twelfth century.
1. Marine Insurance :
Insurance in the oldest form existed in the form if marine insurance. there was a
contract of Bottomry bond, under this, the system of credit and the law of interest
were well developed and were based on a appreciation of the hazards involved and
the means of safeguarding against it. If the ship was lost, the loan and interest were
forfeited. The contract of insurance was made a part of the contract of carriage.
Freight was fixed according to seasons and was very reasonable. Various risks
were involved with marine transport like heavy winds, highway robbery, capturing
by kings enemies. So to safeguard that, the marine traders developed a method of
spreading that financial loss.
2. Fire Insurance :
Marine insurance was followed by fire insurance. it had been originated in
Germany in the beginning if the sixteen century. In England in 1666 there was
great fire in which about 85 percent of the houses were burnt and property worth of
sterling ten crores were completely burnt off. Fire insurance office was established
in 1681 in England. After this, fire insurance spread all over the world.
In India, the general insurance started working with the establishment of the Triton
Insurance Calcutta in 1850. However general insurance could not progress much in
India.
3. Life Insurance :
Life insurance first started in England in the sixteen century. The first life
insurance policy was of Willam Gybbons on June 18,1653. The first registered life
office in England was the Hand in Hand Society established in 1696. The life
insurance did not progress much in the United States during the eighteenth century.
In India, some European started the first life insurance company in Bengal
Presidency, viz, the Oriental Life Assurance Company in 1818. Then in 1871,
Bombay Mutual Life Assurance Society was established. In 1874 another
important life insurance office was started Oriental Government Security Life
Assurance Co. Ltd sooner than several offices developed in India.
4. Miscellaneous Insurance :
Miscellaneous Insurance take place at the later part of the nineteenth century with
the industrial revolution in England. Various insurance were developed like
accident insurance, fidelity insurance, liability insurance. The main institution was
Lloyds association. Now, various insurance are taking place like cattle insurance,
crop insurance, project insurance etc.
Types of insurance:

We hear about so many insurance policies and the various terms in it. But
how many of us truly understand what the different types of general insurance
policies mean and what they protect? There are essentially two types of insurance,
life insurance and general insurance. While life insurance is a coverage that pays
out a certain amount to the beneficiaries in event of death of the insured, general
insurance protects against the unforeseen losses and damages other than those
covered by life insurance.

Also known as non-life insurance, general insurance offers a gamut of

insurance covers against eventualities such as illness, property damage, motor
accidents, etc. Assets have a value of their own and are susceptible to damages.
The specific general insurance cover can protect the economic value of the asset
and prevent huge financial loses. For example, a home insurance policy can protect
your home and the valuables inside from calamities and theft. In this article, we
look at the different types of general insurance policies and the cover they provide.

General insurance can be categorized in to following:

Motor Insurance:

Motor Insurance can be divided into two group, one is car Four wheeler
insurance and other is two wheeler insurance.

You love long drives and speeding on the highways. But have you secured your
lovable ride? Motor insurance, that includes car insurance and two wheeler
insurance, covers all damages and liability to the vehicle. Moreover, according to
the Motor Vehicles Act, 1988, driving a motor vehicle without insurance in a
public place is a punishable offense.

A motor vehicle can be covered either by a Liability Only policy which is a

statutory requirement and covers the legal liability for injury, death, and/or
property damage caused to a third party in the event of an accident caused by or
arising out of the use of the vehicle, or a package policy which includes the
Liability Only policy and also covers the damage to owners vehicle, usually called
O.D. Cover.

The common motor insurance plans include:

Car insurance: A comprehensive coverage against physical damage and bodily

injury to the car, and also covers against third-party liability.

Two wheeler insurance: A comprehensive two-wheeler insurance policy provides

hassle-free protection to your bike or scooter against physical damage, theft and
third party liability.

Commercial vehicle insurance: Commercial vehicle insurance is a Liability Only

policy for commercial vehicles across the various classes of vehicles like goods
carrying vehicles private and public carrier, passenger carrying vehicles,
miscellaneous and special types of vehicles.

Health Insurance:
 Common types of health insurance includes, individual health insurance,
family floater health insurance, comprehensive health insurance and critical
illnes insurance.
Ill health can result in a major halt in your life and work. Moreover, the
escalating price of health care costs means that you would be shelling out a
massive amount of money to bear the brunt of these costs. This is the reason why
you would need health insurance to cover your medical expenses following
hospitalization from sudden illnesses or expenses caused by accidents. This also
includes cashless facility in empanelled hospitals, pre and post hospitalization
expenses, and ambulance charges. Here are some of the common types of health
insurance policies:

Individual

A health insurance policy, such as Bajaj Allianz Health Guard Individual

policy, provides cover for an individual with cashless hospitalization and other
features. In case you feel that the sum insured of your existing health insurance
plan does not suffice for expenses due to illness or accidents then opt for a cover
such as the Extra Care health insurance policy to extend your health insurance.

Family Floater Policy

A policy such as the Health Guard Family Floater Option covers family
members under a single plan. The fixed sum insured can be availed by individual
member or as a sum total for treatment of one person.

Surgery Cover

A Surgical Protection Plan provides a fixed benefit amount for specified

surgeries and helps you to take care of the expensive medical treatment in a
hospital. This benefit plan that is used for the surgical treatment of serious illnesses
such as cancer, kidney failure, and heart attack can be availed as a standalone plan
or a rider.

Comprehensive Health Insurance

A high value comprehensive health insurance policy, such as Health Care

Supreme with a wide range of sum insured, add-on covers, special benefit covers
such as maternity benefits and dental treatments, fulfills all the healthcare needs
and ensures complete peace of mind, regardless of the situation of life you are in.

Other health insurance covers:

Personal Accident

Hospital Daily cash Allowance

Critical Illness

Travel Insurance:

Travel insurance can be broadly grouped into Individual travel policy,

Family Travel policy, student travel insurance and senior citizen health
insurance.
Despite all your planning, a trip abroad can go wrong due to medical
eventualities, and non-medical contingencies such as loss of baggage, trip delay
and other incidental expenses. Travel insurance covers the insured against these
misfortunes while traveling. Catering to people from all walks of life, Bajaj Allianz
offers three different plans Travel Companion, Travel Elite and Student Travel.
Choose a basic plan or go for extended covers as per your requirements.

The different travel insurance policies include:

Individual travel policy

Family travel policy

Senior citizens travel policy

Student travel insurance

Home Insurance:

Home insurance protects house and its contents in bad time.

Your home is a priceless possession and possibly one of the largest financial
investments that you have made. It needs to be safeguarded from unforeseen
events. Along with your home, property insurance also protects the valuables and
other assets that are the interest of the insured. A comprehensive cover, such as My
Home, for your house as well as the contents ensures that your home is well
protected.

Commercial Insurance

Commercial insurance offers solutions for all sectors of the industry ranging from
automotive, aviation, construction, chemicals, foods and beverages, manufacturing,
oil and gas, pharmaceuticals, power, technology, telecom, textiles, transport and
logistics.

Some common types of commercial insurance include:

 Property insurance

Marine insurance

Liability insurance

Financial lines insurance

Engineering insurance

Energy insurance

Employee benefits insurance

Marine Insurance:

Marine cargo insurance covers goods, freight, cargo and other interests
against loss or damage during transit by rail, road, sea and/or air.

Commercial Insurance:

Commercial insurance encompasses solutions for all sectors of the industry

arising out of business operations
 Chapter 2

Profile of insurance company

Bajaj Allianz

Introduction:

Bajaj Allianz General Insurance is a private general insurance company in

India. The company is a joint venture between Bajaj Finserv Limited (formerly
part of Bajaj Auto Limited) owned by the Bajaj Group of India and Allianz SE,
a European financial services company.

Bajaj Allianz General Insurance Company Limited is a joint venture

between Allianz SE, world's leading insurer and Bajaj Finserv Limited. The
company began its operations in 2001 and today has a pan-India presence in over
200 towns and cities. The company has been constantly expanding its operations to
reach out to its customers.

As one of the leading general insurer of India, Bajaj Allianz General

Insurance caters to individuals across demographics of the country and the
corporate sector with its wide range of products as well as services that go beyond
insurance.

The company is not only bringing insurance solutions to the customers'

doorstep but also improving insurance penetration, with its advanced digital and
mobile applications. Known for its claim and customer service levels, Bajaj Allianz
has received iAAA rating from ICRA for ten consecutive years, which indicates the
company's highest claims paying ability and a fundamentally strong position. The
company has a strong focus on customer centricity and aims at delivering superior
value with an excellent and caring experience for the customer.

Bajaj Allianz General Insurance has been chosen as the Best General Insurance
Company in India as well as Asia by organizations such as Asia Insurance industry
Awards, Money Today FPCIL Awards, Vijayvavani BFSI Excellence Awards 2015,
etc. The company was adjudged as the Aon Best Employer 2016 for its healthy
work environment and employee friendly policies. In 2015, the company won the
Claims award Asia for the 3rd consecutive year, highlighting its superior claims
management procedures and was recognized as the Economic Times Best
Corporate Brand 2016. Bajaj Allianz General Insurance was ranked 2nd in terms of
having a loyal health insurance customer base in the country, by a survey done by
IMRB. It was also recognized as the Most Admired Health Insurance Company of
the Year by Pharma Leaders Power Brands Awards 2015.

Bajaj Allianz General Insurance is a private general insurance company in

India. The company is a joint venture between Bajaj Finserv Limited (formerly
part of Bajaj Auto Limited) owned by the Bajaj Group of India and Allianz SE,
a European financial services company.
History

Bajaj Allianz General Insurance received an Insurance Regulatory and

Development Authority of India (IRDAI) certificate of registration on 2 May 2001
to conduct general insurance business, including health insurance, in India. In the
first year of its operations the company had 36 offices and around 100 employees.
The company started its operations with a paid up capital of 1.10 billion. Bajaj
Finserv Limited holds 74% and the remaining 26% is held by Allianz SE. Bajaj
Allianz is headquartered in Pune with offices in over 200 cities in India and more
than 3,500 employees as of 2015.

The Company lists 97 filed and approved products, of which 27 are health
products.

In January 2014, the company announced it would open up all-women

branches. As of 2015, the company has 30 such branches in India.
GENERAL INSURANCE:

General insurance is basically an insurance policy that protects you against

losses and damages other than those covered by life insurance. For more
comprehensive coverage, it is vital for you to know about the risks covered to
ensure that you and your family are protected from unforeseen losses.

Benefits of general insurance:

1) The expenses of medical treatments are compensated by the policies of health
and medical insurances.
2) If you care your pets too much, dont forget to go through pet insurance
policies. They can be a lot handy while dealing with the costs associated with pets.
3) In case of accidents, you may have to arrange huge amount in least possible
time. Its then you cant stop appreciating accident insurance policies.
4) As a protection to your home, which provides you shelter, insure it..!! Home
insurance policies aid you in securing your home against damages caused by
natural calamities and fire accidents.
5) Secure your motor vehicles from accidents or breakdowns from motor vehicle
insurance plans.
6) Got a new job!! The very first you need to do is to insure your job by
referring policies of unemployment insurance.
7) When you plan to travel outside India, make sure you have awareness about
travel insurance plans. These plans have a validity of 180 days.
Types of general insurance are:

(i) Fire Insurance:

Fire insurance covers risks of fire. It is contract of indemnity. Fire insurance
is a contract under which the insurer agrees to indemnify the insured, in return for
payment of the premium in lump sum or by installments, losses suffered by the
him due to destruction of or damage to the insured property, caused by fire during
an agreed period of time. It includes losses directly caused through fire or ignition.
There are various types of fire insurance policies.
i) Consequential loss policy
ii) Comprehensive policy
iii) Valued policy
iv)Valuable policy
v) Floating policy
vi) Average policy

(ii) Marine Insurance:

Marine insurance is an arrangement by which the insurer undertakes to
compensate the owner of the ship or cargo for complete or partial loss at sea. So it
provides protection against loss because of marine perils. The marine perils are
collisions with rock, ship attack by enemies, fire etc. Marine insurance insures
ship, cargo and freight.
The following kinds of marine policies are -
- Voyage policy
- Time policy
- Valued policy
- Hull Policy
- Cargo Policy
- Freight Policy

(iii) Miscellaneous Insurance:

It includes various forms of insurance including property insurance, liability
insurance, personal injuries are also insured. The property, goods, machine,
furniture, automobile, valuable goods etc. can be insured against the damage or
destruction due to accident or disappearance due to theft.
Miscellaneous insurance covers
- Motor
- Disability
- Engineering and aviation risks
- Credit insurance
- Construction risks
- Money Insurance
- Burglary and theft insurance
- All risks insurance
The other type of General Insurance policies available are -
- Health Insurance
- Medi- Claim Policy
- Personal Accident Policy
- Group Insurance Policy
- Automobile Insurance
- Workers Compensation Insurance
- Liability Insurance
- Aviation Insurance
- Business Insurance
- Fire Insurance Policy
- Travel Insurance Policy
 Different benefits of general insurance:

1) Benefit of motor insurance:

Key Benefits of Car Insurance

Get a host of add on covers included in our Drive Smart service.

Get your Car Insurance or Car Insurance Renewal in easy steps.
Cashless claim settlement after repair of your vehicle at over 4000 preferred
garages. Receive 75% on account payment when cashless facility is not available.
Transfer up to 50% of your existing No Claim Bonus (NCB) from any car
insurance provider.
Avail our 24x7 telephonic service for car insurance claims support or any
other assistance, even on holidays.
Towing Facility in an event of a vehicle breakdown/accident.
Receive Instant Claims Assistance and SMS updates on your motor claim
status through our 24x7 call-centers.
Bajaj Allianz's preferred garages give you access to hassle-free
inspection and bring to you high service standards.

Key Benefits of Two Wheeler Long Term Policy

Insure once and stay insured for 3 years.

No change in the third party premium during policy period.

 Additional benefits at the time of renewal.

NCB reduces but does not become nil.

Proportional refund provision even after claim during policy period.

2) Key Benefits of Health Insurance

Family discount of 10% up to 2 members, 15% for 3 members

Long term policy discount of 4% for 2 yrs, 8% for 3 yrs

Exclusive value added services for our customers

Discount of upto 20% for co-payment option

Organ donor expenses covered up to the sum insured

10% cumulative bonus benefit for each claim free year up to 100%

Tax saving up to Rs. 60000 under Sec 80D*

No medical tests up to 45 years, subject to clean proposal form

Bariatric surgery cover

Convalescence benefit up to Rs. 7500 per year

Ayurvedic and Homeopathic hospitalization cover

Free preventive health checkup every 3 years, irrespective of a claim

Maternity and new born baby expenses cover

Daily Cash Benefit for Accompanying an Insured Child (Rs. 500 per day
maximum up to 10 days, up to age 12yrs
 3) Benefits of travel insurance:

over expenses of hospitalization, loss of baggage and other incidental expenses

Covers you against trip cancellation, trip curtailment and burglary of your
home*
Quick disbursement of claims

Global expertise matched with local knowledge

Innovative packages to match individual needs

Only insurance company with in-house international toll-free numbers and fax
numbers

4) Key Benefits of Home Insurance

Provides complete protection for property, contents, and interests of the

insured and their family members in a single policy
Covers your home against loss from fire, burglary and natural calamities

Covers the contents of your home, including portable equipment

Cover for jewellery, valuables, works of art

Additional benefit of rent for alternate accommodation*

Useful add-ons to customize your policy for total protection

Several home insurance plan types with various coverage options for you to
choose from
 Option to insure either the flat/apartment/building only, or contents only, or
both
Affordable premium and attractive rebates

Chapter 3

ANALYSIS OF DATA

According To Annexure No. II

#Data from Customer:

According to Question -2)

Expected answer male female
Yes 20 25
No 10 5
Total 30 30
 30

25

20

male
15
female

10

0
Yes No Total

According to Question -3)

Expected answer male female

Yes 26 28
No 4 2
Total 30 30
30

25

20

male
15
female

10

0
Yes No Total
According to Question -4)

Expected answer male female

Yes 25 20
No 5 10
Total 30 30

30

25

20

male
15
female

10

0
Yes No Total
According to Question -5)

Expected answer Male Female

Yes 24 26
No 6 4
Total 30 30

30

25

20

male
15
female

10

0
Yes No Total
According to Question -7)
Expected answer male female
high 15 18
low 12 2
average 8 10
total 30 30

30

25

20

male
15
female

10

0
high low average total
According to Question -9)

Expected
answer male female

experienced 20 12

goodwill 15 10

recommendatio
n 5 8

total 30 30

30

25

20

male
15
female

10

0
high low average total

According to Question -10)

 Expected answer male female
yes 28 25
no 2 5
total 30 30

30

25

20

male
15
female

10

0
yes no total
 Chapter 4
INTERPRETATION

(A) Finding:
It has been found out that different customers are having different views in
relation to their bank and the service provided to them, the following are shown in
the bar chart provided above to understand it easily.

1) Maximum numbers of the customers are satisfied with the policy they hold.
2) Customers have chosen the respective company considering to their service and
goodwill.
3) The company should maintain the goodwill and provide good service to the
customers.
4) Most of the customer pay their premium through online mean.
(B) Suggestion:
1) The agent should not provide any policy to earn profit.
2) Company should maintain their goodwill by providing right product to the
customers.
3) The agent should not provide any policy to earn profit.
4) The company and the customers should mutually trust each other.
5) The company should clear the claim made by the company as soon as
possible.
6) The customer should provide the right data to the company while asked.
CONCLUSION

With my study on benefit of general insurance it has know that many

customers are purchasing the policies to minimize the risk over them self.

Not only the insurance companies now-a-days set their R&D department
with an aim to come up with more and more ever changing ans challenging
situation to set up their new policies in order to face the people in the market.

One of the other important things in automobile insurance is that the policy
determination could be on the actual value or reimbursing value of the certain
property.
Annexure 1:

Questionnaire (customer):

1) which policy do you hold of this company?

Ans :

2) Are you satisfied with the policy you hold?

Yes NO

3) Does your policy cover all your requirement?

Yes No

4) Have you ever claimed your insurance?

Yes NO

5) Are the company staff / agent providing you with good service?

Yes No

6) How do you pay your premium ?

Ans
7) How is your premium amount?

a) High b) Low c) Average

8) Does the company provide you with good after sale services?

Yes No

9) why did you select this company?

a) goodwill b) experience c) recommendation

10) Are you able to operate your policy account online?

Yes No