The document provides information about Kotak Mahindra Life Insurance Company's products: Kotak Flexi Plan, Kotak Retirement Income Plan, Kotak Endowment Plan, and Kotak Capital Multiplier Plan. It summarizes the key advantages of each plan such as minimum and maximum entry ages, premium payment options, riders, and withdrawal/loan facilities. The project report aims to conduct market research and analyze customer satisfaction for Kotak Mahindra Life Insurance Company in Pune.

1. Project Report
On
MARKET RESEARCH AND CUSTOMER SATISFACTION
For
KOTAK MAHINDRA LIFE INSURANCE COMPANY LIMITED
PUNE.
Submitted in partial fulfillment of two years full time course in
PGDM (2011-13)
Inmantec business school ghaziabad
By
Vinay Kumar
Inmantec business school ghaziabad

2. KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD
PUNE
STUDY ON
MARKET RESEARCH AND CUSTOMER SATISFACTION FOR
KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD PUNE
UNDER THE GUIDANCE OF
Dr. Rajeshwar nath

3. ACKLOWLEDGEMENT
It is said, The most important single word is we and the zero important
single word is I . This true even in today s modern era. It is absolutely
impossible for a single individual to complete the assigned job without help and
assistance from others.
I would also like to acknowledge to my sincere gratitude to the Director of
my institute Mr. pankaj Gupta and my project guide Prof. Dr. Rajeshwar
nath for helping me in this project work.
I am thankful to all of my friends and batch mates for their help in
completing this project work. Finally, I am thankful to my entire family
members for their great support and encouragement.
Executive Summary
The objective of the project was to do Market Research and customer
Satisfaction for Kotak Mahindra Life Insurance for that we have to
understand the customer needs, Income, constraints, response and emotions so
that they can contribute their time for becoming Life advisors for the company.
The objective of this study was to analyze consumer satisfaction of mechanical
splicing in Pune city with respect to the performance, sales effort and sales
service.

4. As the company was new and it was yet to be marketed to a large number of
customers, it was essential to know the feedback of customers in order to
formulate effective marketing and sales strategies in future and improve the
quality of service to achieve better consumer satisfaction.
The site visits and companing made us possible to measure the satisfaction
of consumer by identifying the attributes, which gave consumer-varying
degrees of satisfaction.
Questionnaire based on company format some attributes like requirement of
customer and sales services offered by company were identified as critical
(motivational) factors for providing satisfaction to consumers, while other
factors like excisable deposit center, premium collocation was time to time and
also intimation regaining before the collocation of premium. But absence of
such hygienic factors definitely results in a dissatisfied consumer.

5. These hygienic factors could result in selling but their absence can certainly
unseal the product offering.
For this a questionnaire was prepared which gave a vague idea about the
people who were really interested and wanted to know about various new
opportunities in the insurance sector. Go through questionnaire in different
different area and people in the Pune city. The study was undertaken for pune
region during two months. The researchers were given first 15 days for
collection of data and scanning the data. The questionnaire contains various
aspects like there. Address, their present age, profession, number of
dependents, Goals and also planning for old age (Retirement) etc.
The second part of the study that consists of 40 days contains scanning the
questionnaire and taking appointments. After that usually meeting the persons
and tell them about the company.
Most important part is analyzing the information.

6. CONTENTS
Serial No. Particulars Page No.
1. Introduction
2. Industry Profile
3. Company Profile
4. Scope of the work
5. Research Methodology
6. Data interpretation and analyses
7. Observation and findings
8. Limitation and Recommendation
9. Bibliography
10. Annexure

7. INTRODUCTION

8. INTRODUCTION
Wherever there is uncertainty there is risk. The risk cannot be averted. The
risk is uncertainty of the financial loss. We don t have any command on
uncertainties. This makes it essential that we think in favor of a device that
becomes instrumental in spreading the loss. It is in this context that we think
about insurance.
Protection against the possible chances of generating uncertain losses. It
eliminates worries and miseries of losses or destruction of property and death.
Life insurance is a contract between you and a life insurance company,
which provided you a death during the contract term.
Buying insurance is extremely useful if you are the principal earning member
in the family unfortunate premature demise, your family can remain financially
secure because of the life that you have purchased.
The primary purpose of life insurance is therefore protection of the family
in the even insurance is also seen as a tool to plan effectively for your future
years. Your retiren children s future needs. Today, the market offers
insurance plans that not just cover your same time grow your wealth too.
If you have dependants and financial responsibilities toward them, then you
certainly need.
Having a family means dependant, which in turn means financial
commitments. Finance comes in the form of loans, children s education,

9. medical expenses etc. Imagine what would happen if you were to lose your
life suddenly or become disabled being insured in a situation like this is a
necessity.
When you insured your life, in effect what you are doing insuring your earning
capacity that your dependents will be able to continue living without
financial hardships even in case
Most insurance plans available today come with a savings element built into
it. These policies not only for a financially independents future, which were
have a comfortable retirement. For example. Kotak preferred Retirement plans
such as income plan and kotak Multiplier plan. Most insurance plans available
today have a bailt in saving elements. Kotak preferred Retirement plans meet
your dual financial goals of life cover and savings for the future. Collateral
security.
Life wasn t designed to be risk free. The key is not to eliminate risk, but to
estimate it Accurately and manage it wisely.
Insurance sector have characteristic that give can boost to the growth of any
economy .it is due to the savings done at the individual level and at micro level
it generates funds for infrastructure building as the cash flow is constant while
the payout is differed, so that the insurance companies are becoming biggest
investors in long gestation infrastructure development projects and hence have
a great Importance to the developing economy like India. Insurance sector with
an annual growth rate of 15-20% and the largest number of life insurance
policies in force, the potential of the Indian insurance industry is huge.

10. INTRODUCTION OF THE TOPIC
The purpose of this training was to have practical experience of working
within the organization, in the filed of marketing and to have exposure to the
important management practices in field of marketing.
While writing this report the language has been keep simple and the entire
discussion has been logical and has coherent outlines. The main motto of the
project work was Market Research and customer Satisfaction of Kotak
Mahindra Life Insurance, Pune. It includes through market Research in
various plans of Kotak Mahindra Life Insurance. And in detail consumer
(Satisfaction) responses analysis, by surveying number of consumers.
The project report is divided into two parts, first part consists market research
for finding out best sold plan of Kotak Mahindra Life Insurance, And second
consist survey report of various consumers about there responses about
satisfaction towards Kotak Mahindra Life Insurance Company.

11. IMPORTANCE OF THE TOPIC
The project report is all about market research to find out best sold plan of
Kotak Mahindra Life Insurance, pune. And to mouser the satisfaction level of
consumers of Kotak Mahindra Life Insurance.
Market research helps Kotak Mahindra Life Insurance about the best plan
purchased by its consumer satisfaction level helps to know weather the
consumers are satisfied by service/Plans of Kotak Mahindra Life Insurance.

12. INDUSTRY PROFILE

13. INDUSTRY PROFILE
The industries, businesses and individuals are considerably by the services
of insurance organization.
A. The oldest form of insurance (12th century) is marine insurance. After
wards in 16th century fire insurance is started in Germany.
B. The first registered life office was Hand in Hand Society
established in 1696.
C. In India the first life insurance was started in the Bengal Presidency in
1818 knows as oriental life insurance company.
D. Experiencing so many ups and downs the insurance business was
found in changed shapes. Particularly after attaining independence and to
the more specific after nationalizing in 1956.
E. There was major change in the insurance sector after globalization in
2001. The private player in the insurance industry and ends the
dominance of LIC.
F. The different MNC s company of foreign country enters in the
insurance industry with the joint venture with Indian companies. Today
total 11 private life insurance companies are working in insurance
industry.

14. HISTORY
1912: the Indian Life Assurance Companies Act enacted as the first stature
to regulate the life insurance business.
1928: the Indian Insurance Companies Act enacted to the government to
collect statistical information about both life and non life insurance
businesses.
1938: Earlier legislation consolidated and amended to the insurance Act
with the objective of protecting the interests of the insuring public.
1956: 245 Indian and Foreign insurers and provident societies taken over by
the central government and nationalized. LIC formed by an Act of
Parliament, viz. LIC Act, 1956, with a capital contribution of Rs. 5 core from
the Government of India.
INSURANCE SECTOR REFORMS:
1) Structure
Government stake in the insurance companies to be brought down to 50%.
2) Competition
Private companies with a minimum paid up capital of Rs. 1bn should be
allowed to enter the industry. No company should deal in both Life and
General Insurance though a single entity. Foreign companies may be

15. allowed to enter the industry in collection with the domestic companies.
Postal Life Insurance Should be allowed to operate in the rural market. Only
One State Life Insurance Company should be allowed to operate in each state.
3) Regulatory Body
- The Insurance Act should be changed
- An Insurance Regulatory body should be set up
- Controller of Insurance (Currently a part from the Finance Ministry)
should be made independent.
4) Investments
Mandatory Investment of LIC Life Fund in government securities to be
reduced from 75% to 50%.
5) Customer service
LIC should pay interest on delays in payments beyond 30 days. Insurance
companies must be encouraged to set up unit linked pension plans.
Computerization of operations and updating of technology to be carried out in
the insurance industry. The committee emphasized that in order to improve
the customer services and increase the coverage of the insurance; industry
should be opened up to competition.

16. ENTRANCE OF PRIVATE PLAYERS IN INSURANCE SECTORS
India still has low insurance penetration of 1.95 percent, 51st in the world.
Despite the fact that India boosts a saving rate of around 25 percent, less than 5
percent is spent on insurance.
The insurance landscape in India is undergoing major changes. Close to
foreign competition since nationalization in 1956, the life insurance industry had
been protected from competitive pressures. Now, with the reopening of the
sector, several new players have entered the scene.
The acronym for the Insurance Regulatory and Development authority of India,
it overseeing the insurance business in India. It protects the interests of the
policyholders received and ensures orderly growth of the insurance industry and
for matters connected there thereto.
Beside Kotak Mahindra Life Insurance there are other 11 private players
working in life insurance sector, which are as follows.
Allianz Bajaj Life Insurance Company Ltd.
Allianz Bajaj Life Insurance Company Ltd. is a joint venture between
Allianz AG (Largest insurer in Europe) and Bajaj Auto Ltd. incorporated on 12th
march 2001.
AMP Sanmar Assurance Company Ltd.
AMP Sanmar Assurance Company Ltd. is a joint venture between AMP,
largest life insurer in Australia and New Zealand, Sanmar is one of the

17. largest industrial groups in South India dealing in chlorochemicals and
shipping and Engineering.
Aviva Life Insurance Company Ltd.
Aviva Life Insurance Company Ltd. is a joint venture between Dabur India and
CGU, is a wholly subsidiary of Aviva Plc (UK).
BI Life Insurance Company Ltd.
India s largest bank SBI and Cardiff S.A, a leading insurer in France came
together to from SBI Life.
Tata Life Insurance Company Ltd.
Tata Life Insurance Company Ltd. is capitalized at Rs. 185 crore; of which
74% has been brought in by TATA Sons and the American partner bring the
balance 26%.
ICICI Prudential Life Insurance Company Ltd.
ICICI Prudential equity based stands at Rs. 675 Cr. With ICICI group and
Prudential Plc holding 74% and 26% stake respectively.
Birla Sun Life Insurance Company Ltd.
Birla Sun Life Insurance Company is a 74:26 joint venture between Aditya
Birla Group and sun life financial services of Canada.
HDFC Standard Life Insurance Company Ltd.

18. HDFC Standard Life Insurance Company Ltd. was one of the first
companies to be granted license by the IRDA to operate in life insurance
sector. It was incorporated on 14 th august 2000. HDFC is the majority
stakeholder in insurance JV with 81.4% stake and Standard life (largest mutual
assurance company in Europe) has a stake of 18.6%.
ING Vysya Life Insurance Company Ltd.
ING Vysya Life Insurance Company Ltd. is expected to be first bank
assurance venture in the country. Together they have roped in GMR group,
which has wide-ranging interests in field such as power generation
infrastructure, manufacturing, software and banking. As per JV agreement
Vysya bank would hold 49% stake, ING (Europe, Dutch origin) 26% and GMR
group would hold 25% of the stake.
MAX New York Life Insurance Company Ltd.
It s a partnership between MAX India ltd and New York life, a Fortune 100
company.
Met Life India Insurance Company Ltd.
It was incorporated in April 2001 as a joint venture between Met Life
International Holding, Inc, Jammu & Kashmir bank, and M. Pallonji and
company private Ltd.

19. COMPANY PROFILE

20. PRODUCT
a) Kotak Flexi plan
Advantages:
1 Choice of 5 professionally managed funds included Gilt Fund, Floating
Rate Fund, Bond Fund, Balanced Fund, Growth Fund.
2 Add lump sum injections as and when suitable
3 Premium holiday facility
4 Riders options for enhanced protection 5
Loan facilities in case of emergencies
6 Simplified documentation and procedures
b) Kotak Retirement Income Plan
The Kotak Retirement Income Plan is a savings plan designed to meet your
post retirement needs. It is a plan that gives you jeene Ki azaadi by giving you
the choice to remain independent even after retirement.
Advantages:
1 In this plan minimum age of 18 years of old and maximum age is 60 years. 2
You may buy an annuity either from Kotak Life Insurance.
3 You can make lump sum injections into your policy at any time before
retirement.
4 For a with cover plan you have the facility of Automatic cover
Maintenance, which ensures that the cover remains in force even when you

21. miss the premium payments. This facility is available after the first 3 years
of the term.
5 You may exercise the option of paying premium from the Supplementary
Accumulation Account, created from will be created from lump sum
injections, if the need arises.
c) Kotak Endowment Plan
An Endowment policy is a combination of savings along with risk cover.
These policies designed to accumulate wealth and at the same time cover your
life. In simple words, issued for specific time periods during which you pay a
regular premium. If you die during policy, your beneficiaries will receive the
sum assured along with the accumulated bonus a outlive the policy tenure you
will receive the sum assured along with accumulated bonus.
Advantages:
1 In this plan minimum age of 18 years of old and maximum age is 65 years.
2 You can take a loan against your policy has been in force for at least three
years.
3 You have the option of paying premiums quarterly, half yearly or yearly. 4
You have the benefit of a 15-day free look period.
d) Kotak Capital Multiplier Plan
The Kotak Capital Multiplier Plan is a participating plan that is built in such
a way that it allows your money to multiply, and gives you the flexibility of
using this money the way you need it, in regular and irregular withdrawals.

22. This is an endowment plan, which is very flexible and has a lot of in-built
benefits.
Advantages:
1 In this plan minimum age of 18 years of old and maximum age is 60 years.
2 At the start of your withdrawals period, you can draw the full proceeds or you
can draw up to 50% of your basic sum assured or accumulation account,
whichever is higher.
3 In addition to the regular premiums, you can make lum sum injection into
your plan during the premium paying period. A Supplementary
Accumulation Account will be created.
4 You have the facility of Automatic Cover Maintenance, which ensures that the
policy remains in force even when you miss the premium payments. This facility
is available after the first 3 years of the term.
e) Kotak Child Advantage Plan
The Kotak Child Advantage Plan is an investment plan designed to meet
your child s future needs. It is a plan that gives your child the azaadi to realise
his/her dreams. This is an endowment plan where the life insured is the child.
This is a participating plan.
Advantages:
1 In this plan minimum age of 0 years of old and maximum age is 17 years.
2 You may take a loan against this plan, after the policy has been in force for at
least three years.
3 You have the option of paying premiums quarterly, half yearly or yearly. 4
You have the benefit of a 15-day free look period.

23. SCOPE OF STUDIES

24. Need for measuring customer satisfaction.
Customers are too good to lose
---------- Lets keep them happy!
Customer is the king.
In the era of cutthroat competition and economic recession, above axiom has
more importance than ever before.
Marketing starts with the customer and ends the customer .
Peter Drucker.
So no organization, small or big ignores the customers.
Earth is not the center of universe but revolves around the Sun .
-Copernicus.
Similarly, we have come to believe that business firm is not the center of
economic universe but revolves around the customer.
Build customer and not only products.
Building customers is not a single step exercise but a process ------.

25. OBJECTIVE OF THE STUDY:
1) To determine the present position and satisfaction of customer in Kotak
Mahindra Life Insurance.
The main objective of the project was to analyze consumer satisfaction of
Kotak Mahindra Life Insurance with other services in Pune. And also present
position of the company.
2) To determine the market share of different brands.
The second objective of the project was to determine the market share of
different brands available in the market. There was a tough competition for the
brand in the market. Therefore to get establish, company had to make its
competitors analysis and need to determine where do they stand.
3) Responses of customer
Responses from them were collected through survey and for the
questionnaire were prepared for both of them.
4) Benefits derived by assessing consumer satisfaction are:
- Feedback to organization regarding product. -
Understanding customer s requirements.
- Providing superior service to customer.
- Strengthen the relationship with customers. -
Formulating sales strategies.

26. 5) Identify pros and cons of the brand.
This was a fundamental objective of the whole research. Company wants to
identify that where does the brand lack. In other words, what are the brands so
that it can rectify them in order to establish the brand in the market.
6) Suggestions and recommendations.
The objective of the research was not only to find out the problem but also the
identification of solutions or suggestions of the problems.

27. RESEARCH
METHODOLOGY

28. RESEARCH METHODOLOGY
INTRODUCTION
Research is an art of scientific investigation through search for new facts in
any branch of knowledge. It is a moment from known to unknown.
Research always starts with a question or a problem.
Its purpose is to find answers to questions through the
application of the scientific method.
It is a systematic and intensive study directed towards a more
complete knowledge of the subject studied.
As marketing does not address itself to basic or fundamental question, it
does not qualify as basic research. On the contrary, it tackles problems, which
seem to have immediate commercial potential. In view of the major
consideration, marketing research should be regarded as applied research.
We may also say that marketing research is of both types problem solving
and problem oriented.
Marketing research is as systematic and objectives study of the problems
pertaining to the marketing of the goods and services. It may be emphasized that
it is not restricted to any particular area of marketing, but is applied to all the
phases and aspects.

29. METHOD OF DATA COLLECTION
1) Data to be collected.
Data includes facts and figures, which are required to be collected to achiever
the objectives of the project. In order to determine the present position and
satisfaction of customer of kotak Mahindra Life Insurance.
a) Primary Data
The data that is being collected for the first time or to particularly fulfill the
objectives of the project is known as primary data.
These types of data were,
- The market share of Kotak Mahindra Life Insurance.
- The market share of other brands available in the market. -
Responses of consumer.
- Identifying pros and cons of the brand.
The above primary data were collected through responses of consumer was
conducted through questionnaires prepared for them.
b) Secondary Data
Secondary data are that type of data, which are already assembled and need
not to collected from outside. These types of data were
i) Company Profile ii)
Product Profile
iii) Competitors Profile
The aforesaid data were collected through Internet and company s financial
report.

30. 2) Data Collection Method
For given project, the primary data, which needed to collect for the first
time, were much significant. This type of information gathered through Survey
technique, which is the most popular and effective technique for correct data
collection. The survey was completed with the use of questionnaires.
- Questionnaire for consumer.
3) Sampling
Sample is the small group taken under consideration from the total group.
This small group represents the total group. In the project the market research,
which was ask to be studied was pune market but as it was possible to approach
all the respondent s customer of the city, hence a sample was selected which
represents the whole city. The areas selected for the sample are present further
in the appendix. Sample size of customer list was taken from Kotak Mahindra
Life Insurance customer data basic.
4) Data Evaluation
The data so collected were not simply accepted because it contained
unnecessary information and over or under emphasized facts. Therefore only
relevant data were included in the report, which helped in achieving the
objectives of the project.

31. DATA INTERPRETATION
AND ANALYSIS

32. Personal detail
Classes No of
(Age) Respondents
18-24 4
24-35 1916
35-45 81
45-55
55-65
No. Of Respondant
20
18
16
14
12
10 No. Of Respondant
8
6
4
2
0
18-24 24-35 35-45 45-55 55-65
ANALYSIS
Above diagram consist five classes of different age groups. Here customer
19 customer biloges to 25-35 age groups, 16 customers fall in the age group 35-
45 years.
Other 8 customer comes are in the class 45-55 years the age group of 18-24
consists four customer reaming customer is in age group 55-65 years. Here
majority of customer belong to the group 25-35 years.

33. Do you think is it essential to have Life Insurance?
YES NO
Yes No Total
No. of Respondents 45 5 50
% of Respondents 90 10 100
No. of Respondents
YES
NO
ANALYSIS
To this question 45 consumers reported YES and 5 consumers reported
NO .

34. Which are the companies you invested your money for Life Insurance?
Companies No. of % of
Respondents Respondents
Kotak Mahindra Life Insurance 50 37.04
LIC 30 22.22
Bajaj Allianz - -
Tata AIG 10 7.41
Max New York Life Insurance 5 3.70
HDFC Life Insurance 10 7.41
ICICI Prudential Life Insurance 25 18.52
SBI 5 3.70
No. of Respondents
Kotak Mahindra Life
Insurance
LIC
Bajaj Allianz
Tata AIG
Max New York Life
Insurance
HDFC Life Insurance
ICICI Prudential Life
Insurance
SBI

35. ANALYSIS
From the above figure we come to know that customer are also investing
money in other life insurance companies. The major player in insurance is LIC
holding 22.22% of total sample. The second major player ICICI is holding
18.52%. HDFC and AIG are having equal share of 7.41% & the Max New
York & SBI are having 3.70%.

36. Why did you choose Kotak Life Insurance?
No of % Of
Respondents Respondents
ROI 18 36
Peer Pressure 15 3020
Tax Benefit 10 2410
Security /safety 25 100
Low Premium 50
TOTAL
No. of Respondents
ROI
Peer Pressure
Tax Benefit
Security /safety
Low Premium
ANALYSIS
The above diagram shows 36% of respondents choose because of good
returns, 30% because of peer pressure and remaining 24% opt. Because of tax
benefit, safety and 100 premium respectively.

37. Which of the following planed you is insured?
No o % Of
Respondents Respondents
Kotak Flexi plan 25 40
Kotak Retirement Plan 19 305
Kotak Endowment Plan 36 1015
Kotak Capital Multiplier Plan 10
Child Advantage Plan
No. of Respondents
Kotak Flexi plan
Kotak retirement Plan
Kotak Endowment Plan
Kotak Capital Multiplier
Plan
Child Advantage Plan
Note.
Some of customer are having more than one plan total survey customers are
50.

38. ANALYSIS
From the total 63 respondents maximum i.e. 40% customers have opted for
Flexi Plan, whereas 30% have gore for Retirement plans and remaining 30%
have customer are having endowment, multiplier and child advantage
respectively.

39. What kind of services you expect from insurance provides
No of % Of
Respondents Respondents
Easy access ability to Deposit Center 20 31
Time to time premium collection 12 19
Provision in case of Dues 8 13
Bonus & other schemes 24 37
TOTAL 64 100
No. of Respondents
Easy access ability to
Deposit Center
Time to time premium
collection
Provision in case of
Dues
Bonus & other schemes
Note.
Some of customer are expecting more than single service.

40. ANALYSIS
Out of total 50 respondents 37% like to have bonus and other service as a prime
concern, 13% like to have provision in case of dues and remaining 31% & 12%
respondents say. They need time-to-time premium collection and easy
accessibility to deposit center as a concern before choosing insurance provider.

41. How will you rate the services given by Kotak Mahindra Life Insurance?
No of % Of
Respondents Respondents
Poor - -
Average 16 3256
Good 28 12
Excellent 6 100
TOTAL 50
No. of Respondents
Poor
Average
Good
Excellent
ANALYSIS
Out of 50 respondents 57% have ratted Kotak Mahindra Life Insurance
services as good and 32% have ratted as average. And remaining 12% have
ratted as Excellent.

42. What difference you find between Kotak & your previous Insurance
provider.
No of % Of
Respondents Respondents
Good Returns 16 2115
Effective Service/liquidity 12 3628
Tax Planning 28 100
Security/ Safety Benefit 22
TOTAL 50
No. of Respondents
Good Returns
Effective Service
Tax Planning
Security/ Safety Benefit
Note.
Some of customers are having more than one plan more Benefit are expected
in one plan. Total surveys of customers are 50.

43. Do have any suggestion for Kotak Mahindra Life Insurance?
YES NO
YES NO TOTAL
No of Respondents 39 11 50%
Of Respondents 78 22 100
No. of Respondents
YES
NO
ANALYSIS
To this question 39 consumers reported YES and 11 consumers reported
NO .

44. In future, will you purchase policies from Kotak Mahindra Life Insurance?
YES NO
YES NO TOTAL
No of Respondents 32 18 50%
Of Respondents 64 36 100
No. of Respondents
YES
NO
ANALYSIS
To this question 32 consumers reported YES and 18 consumers reported
NO .

45. OBSERVATION
AND
FINDINGS

46. OBSERVATIONS
Majority of the customer s belonged to age group of 25-35
years that is 19 consumers.
45 consumers think Life Insurance is essential for them.
135 respondents are investing in life insurance companies like
Kotak Life Insurance, LIC, Tata Allianz, Max New York, HDFC,
ICICI and SBI.
36 percentages of the total respondents invest in Kotak
Mahindra Life Insurance for getting high ROI.
Most of respondent s preferred kotak Flexi Plan.
37.5 percentage respondents expect bonus and other schemes from
Kotak Mahindra Life Insurance.
56 percentage respondents satisfied with services given by Kotak
Mahindra Life Insurance.
As per 28% of despondence Kotak Mahindra Life Insurance
providers good tax benefits to the Investors.
64% of respondents are willing to purchased policies from Kotak
Mahindra Life Insurance in future.

47. LIMITATION
AND
RECOMMENDATIONS

48. RECOMMENDATIONS
1) There is scope to sale insurance policy by concentrating on age group
18-24 years here potential of customers are there.(Example. Software
professional, BPO employees, and professionals) Flexi plan can be sold by
concentrating on age group 35-45 years. (Example. Government
employees, executives and businessman)
2) As major respondents think to have life insurance policy is very
essential there is lot of scope for insurance company.
3) Kotak Mahindra Life Insurance should try to build trust among the
public by making people aware of their investment is safe, high return on
investment, Tax Benefits.
4) As more respondents are investing in Kotak Mahindra Life Insurance for
getting high return on investment the company should try to provide
attractive returns on investments in future.
5) Kotak Mahindra Life Insurance should introduce attractive policies &
also attractive bonus on policies to attractive more potential customers.
6) Approx 36% of respondents differ with there previous insurance
provider, they field that Kotak Mahindra Life Insurance providing good tax
benefit for there investment so Kotak Mahindra Life Insurance if possible
try to provided more tax benefit customer.
7) 64% respondents are willing to purchases Kotak Mahindra Life
Insurance policies in future this benefit Kotak Mahindra Life Insurance as
mort potential customer in future.

49. CONCLUSION

50. After conducting market research for Kotak Mahindra Life Insurance
Company we came to know different needs of consumers, their valuable
suggestions, responses to the different questions. With this information we can
conclude that there is good market awareness about Kotak Mahindra Life
Insurance Company in the market.
Customer satisfaction level of most respondents is higher for Kotak
Mahindra Life Insurance Company, which is provided by survey. Higher
satisfaction level of Kotak Mahindra life insurance company was monthly due
to Kotak provides good tax benefit for the consumers also ROI, security etc.
Kotak Mahindra Flex s plan is the best-sold plan in market by Kotak
Mahindra Life Insurance. This conveys that the customer s are switching to
retirement plan.

51. BIBLIOGRAPHY

52. REFERENCES
BOOKS
MAGAZINE
Business & Economy Magazine
COMPUTER WEBSITE
www.IRDA.com
www.licindia.com
www.hdfcinsurance.com
www.businessindiaonline.com
www.maxnewyorklife.com
www.brandonline.com
www.iciciprulife.com

53. ANNEXURE

54. QUESTIONNAIRE
1. Personal detail
Name:
Age
18-24 25-35 35-45
45-55 55 and above
Phone No.
Email.
Office Address: - Residential Address: -
2. Do you think is it essential to have Life Insurance?
YES NO
3. Which are the companies you invested your money for Life Insurance?
a) Kotak Mahindra Life Insurance
b) LIC
c) Bajaj Allianz
d) Tata AIG
e) Max New York Life Insurance
f) HDFC Life Insurance
g) ICICI Prudential Life Insurance
h) SBI

55. 4. Why did you choose Kotak Life Insurance?
a) ROI
b) Peer Pressure
c) Tax Benefit
d) Security /safety
e) Low Premium
5. Which of the following planed you is insured?
a) Kotak Flexi plan
b) Kotak retirement Plan
c) Kotak Endowment Plan
d) Kotak Capital Multiplier Plan e)
Kotak Child Advantage Plan
6. What kind of services you expect from insurance provides
a) Easy access ability to Deposit Center
b) Time to time premium collection
c) Provision in case of Dues
(Policy Lapse)
d) Bonus & other schemes
7. How will you rate the services given by Kotak Mahindra Life Insurance?
a) Poor
b) Average
c) Good
d) Excellent

56. 8. What difference you find between Kotak & your previous Insurance
provider.
a) Good Returns (HIGHEST) b)
Effective Service/Liquidity
c) Tax Planning
d) Security/ Safety Benefit & Protection on your Capital
9. Do have any suggestion for Kotak Mahindra Life Insurance
YES NO
10. In future, will you purchase policies from Kotak Mahindra Life
Insurance?
YES NO

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