The aim of this Life Insurance MBA Project at ING Vysya Final Year Case study is to examining a client’s personal situation, financial resources, financial objectives and financial problems in a comprehensive manner, monitoring the plan performance to take corrective action as necessary to assure that results match the plan projections. So this study is also intended to find whether people are aware of ING Vysya Life Insurance.
From the project analysis and interpretation the conclusions are:
1) Most untapped insurance market in India contains mostly middle class and lower class people.
2) The customers give preference more to premium of policy and benefits of the policy. Brand name and flexible payment options are given less importance.
3) Even though the premium price is not within the customer budget, if the benefits offered by policy are good customers is ready to take the policy.
4) The customers want the premium price to be within the budget, with good benefits.
5) The private insurance companies are unable to tap the untapped insurance market certain strategies should be formulated to grab the market.
6) Most customers feel that setting up of stalls at appropriate locations and providing information regarding various policies and benefits offered by the insurance company and create awareness about the insurance company.
7) ING has an international brand image by their world wide advertisement like formula one race and many other sports events still it need to implement more marketing advertisement to attract the customers.
8) The present study is an attempt to find the unit linked plan as a part of financial planning, moreover to determine whether the unit linked plan would help the people to avail the tax benefit, protection, and savings.
Download Life Insurance MBA Project at ING Vysya.