MENTORING REPORT PROJECT ON

Study on The Decision-Making Parameters for Choosing an Insurance

Company and Go Digit Industry Analysis

“Submitted in the partial fulfillment for the requirement of post

graduate diploma in management”
(PGDM-IB)

Submitted to: submitted by:

Ms. Gopika Kumar Harshverdhan Singh
Roll no. -24
Batch: 2018-20

Jagannath International Management School

Kalkaji, New Delhi

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 DECLARATION

I Harshverdhan Singh, hereby declare that the project done by me is true to my knowledge. This
research work is my original work. the information collected by me is authentic and I have through
knowledge of the project.
The analysis of the report is based on the information collected from the respondent’s in Delhi
through a structured questionnaire.
I further declare that this project report has not been submitted to any other university or institute
for the award of any degree or diploma

Signature of the candidate

(Harshverdhan Singh)

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 TABLE OF CONTENT

S.NO PARTICULARS PAGE NO.

1. EXECUTIVE SUMMARY 5

2. INTRODUCTION TO THE TOPIC 6-12

3. COMPANY PROFILE 13-23

4. RESEARCH METHADOLOGY 24-28

 OBJECTIVES OF THE STUDY

 PRIMARY DATA
 SECONDARY DATA
 LIMITATION

5. ANALYSIS AND FINDINGS 29-43

6. CONCLUSION 44

7. RECOMMENDATIONS 45

8. BIBLIOGRAPHY 46

9. ANNEXURE 47-49

 QUESTIONNAIRE
 BIBLIOGRAPHY

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 ACKNOWLEDGEMENT

The successful completion of this project marks the beginning of a learning experience of converting
ideas and concepts into real life practical system. The project along with the knowledge
enhancement has provided various useful professional life experiences.it would be worthwhile here
to mention the contribution made by people around me leading to successful completion of this
project.
I would like to thank with sincere gratitude my project guide Ms. Gopika Kumar (Internal mentor)
and Mr. Bhavneet singh (external mentor) for their guidance and understanding which was a great
source of inspiration and motivation for me.

(Harshverdhan Singh)

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 EXECUTIVE SUMMARY
In today’s corporate and competitive world, I find that insurance sector has the maximum growth
and potential as compared to the other sectors. Insurance has the maximum growth rate of 70-
80% while as FMCG sector has maximum 12-15% of growth rate. This growth potential attracts
me to enter in this sector and has given me the opportunity to work and get experience in highly
competitive and enhancing sector.
Life insurance in its modern form came to India from England in 1818 with the formation of Oriental
Life Insurance Company. The Government of India nationalized the life insurance industry in
January 1956 by merging about 245 life insurance companies and forming Life Insurance
Corporation of India (LIC), which started functioning from 01.09.1956. For years thereafter,
insurance remained a monopoly of the public sector. It was only after seven years of deliberation
and debate that R. N. Malhotra Committee report of 1994 became the first serious document
calling for the re-opening up of the insurance sector to private players. The sector was finally
opened up to private players in 2001.The Insurance Regulatory and Development Authority, an
autonomous insurance regulator set up in 2000, has extensive powers to oversee the insurance
business and regulate in a manner that will safeguard the interests of the insured. Insurance is a
federal subject in India. There are two legislations that govern the sector- The Insurance Act-1938
and the IRDA Act1999. The insurance sector in India has come a full circle from being an open
competitive market to nationalization and back to a liberalized market again
Insurance is not the sale of products, but servicing customers. It is a system, by which the losses
suffered by a few are spread over many, Exposed to similar risks. Insurance is a protection against
financial loss arising: on the happening of an unexpected event. Insurance companies collect
premiums to provide for this protection. A loss is paid out of the premiums collected from the
insuring public and the Insurance Companies act as trustees to the amount collected. The very
fundamental principle of spreading of the risk is actually practiced by the insurance companies by
reinsuring the risks that they have insured. The opening up of the Insurance Sector to Private
Companies, has made available more products and world class service to Indian Customer.
The objectives of the study Is to determine reasons behind opting for an insurance.and to know
the most preferred policy and the types of benefits provided by services to determine customer
perception towards private insurance company and their expectations and attempt has been made
to explain the apex body of General Insurance. i.e. Go digit General Insurance its structure,
products and services, Due to the growth in the technological sector of the country, the insurance
companies have started utilizing these technologies to its optimum level.

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 Origin of Insurance

Whenever there is uncertainty there is risk. We do not have any control over uncertainties which
involves financial losses. The risk may be certain events like death, pension, retirement or
uncertain events like theft, fire, accident, etc. Insurance is a financial service for collecting the
savings of the public and providing them with risk coverage. It comes under service sector and
while marketing this service due care is taken in quality product and customer satisfaction. The
main function of the Insurance is to provide protection against the possible chances of generating
losses. The insurance sector in India has come a full circle from being an open competitive market
to nationalization and back to a liberalized market again. Tracing the developments in the Indian
insurance sector reveals the 360-degree turn witnessed over a period of almost two centuries.1

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 History of the Insurance Sector
The business of life insurance in India in its existing form started in India in the year1818 with the
establishment of the Oriental Life Insurance Company in Calcutta. Some of the important
milestones in the life insurance business in India are:

1912: The Indian Life Assurance Companies Act enacted as the first statute to regulate the life
insurance business.

1928: The Indian Insurance Companies Act enacted to enable the government to collect statistical
information about both life and non-life insurance businesses.

1938: Earlier legislation consolidated and amended to by 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 crores from the Government of India. The General insurance business in
India, on the other hand, can trace its roots to the Triton Insurance Company Ltd., the first general
insurance company established in the year 1850 in Calcutta by the British.

Some of the important milestones in the general insurance business in India are:

1907: The Indian Mercantile Insurance Ltd. set up, the first company to transact all classes of
general insurance business.

1957: General Insurance Council, a wing of the Insurance Association of India, frames a code of
conduct for ensuring fair conduct and sound business practices.

1968: The Insurance Act amended to regulate investments and set minimum solvency margins
and the Tariff Advisory Committee set up.

1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general
insurance business in India with effect from 1st January 1973. 107 insurers amalgamated and
grouped into four companies’ viz. the National Insurance Companied., the New India Assurance
Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd.
GIC incorporated as a company.

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INSURANCE SECTOR

The opening up of Insurance sector was a part of the ongoing liberalization in the financial sector
of India. The changing face of the financial sector and the entry of several companies in the field of
life and non-life Insurance segment are one of the key results of these liberalization efforts.
Insurance business by way of generating premium income adds significantly to be the GDP.

Over the past three years, more than thirty companies have expressed interest in doing business
in India. The IRDA (Insurance Regulatory Development Authority) is the regulatory authority, which
looks over all related aspects of the insurance business. The provisions of the IRDA bill
acknowledge many issues related to insurance sector. The IRDA bill provides guidance for three
levels of players - Insurance Company, Insurance brokers and Insurance agent. Life Insurance
sector is one of the key areas where enormous business potential exists. In India currently the life
insurance premiums a percentage of GDP is 1.3 % against, 5.2 per cent in the US.

General Insurance is another segment, which has been growing at a faster pace. But asper the
current comparative statistics, the general insurance premium has been lower than life insurance.
General Insurance premium as a percentage of GDP was a mere 0.5'per cent in 1996. In the
General Insurance Business, General Insurance Corporation (GIC) and its four subsidiaries viz.
New India Insurance, Oriental Insurance, National Insurance and United India Insurance, are doing
major business. The General Insurance Industry has been growing at a rate of 19 percent per
year.

The entry of several private insurance companies, particularly international insurance companies,
through joint ventures, will speed up the process of insurance mobilization. The competition will
unleash new schemes and benefits, which will give consumers a better Chance to save as well as
insure. The regulatory system in India is relatively new and takes some more time to make the
Insurance sector a perfectly competitive one. Insurance Regulatory Authority of India issued
regulations on 15 subjects which included appointed. Actuary, actuarial report, Insurance agents,
Solvency margins, re-insurance, registration of Insurers, and obligation of insurers to rural and
social sector, investment and accounting procedure. The reform in Insurance in India is guided by
factors like availability of a variety of products at a competitive price, improvement in the quality of
customer services etc. Also, the employment opportunities in the Insurance sector wil1 increase as
major players set their business plans in India. The policy of the government to open up the
financial sector and the Insurance sector is expected to bring greater FDI inflow into the country.
The increase in the investment limit in this vital sector has generated considerable business
interests among the foreign Insurance companies" Their entry wil1 certainly change the Insurance
sector considerably.

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 Insurance Sector Reforms
In 1993, Malhotra Committee, headed by former Finance Secretary and RBI Governor. Malhotra
was formed to evaluate the Indian insurance industry and recommend its future, direction. The
Malhotra committee was set up with the objective of complementing the reforms initiated in the
financial sector. In 1994, the committee submitted the report and some of the key
recommendations included:
Structure:
1. Government stake in the insurance Companies to be brought down to 50%.
2.Government should take over the holdings of Gulch and its subsidiaries so that these
subsidiaries can act as independent corporations.
3. All the insurance companies should be given greater freedom to operate.
Competition:
I. Private Companies with a minimum paid up capital of Rs. 1 bn should be allowed to enter the
industry.
2. No Company should deal in both Life and General Insurance through a single entity.
3. Foreign companies may be allowed to enter the industry in collaboration with the domestic
companies.
4. Postal Life Insurance should be allowed to operate in the rural market.
5. Only one State Level Life Insurance Company should be allowed to operate in each state.

Regulatory Body:

1. The Insurance Act should be changed.

2. An Insurance Regulatory body should be set up. Controller of Insurance (Currently a part from
the Finance Ministry) should be made independent.

Investment:

1. Mandatory Investments of LIC Life Fund in government securities to be reduced from75% to

50%.

2. GIC and its subsidiaries are not to hold more than 5% in any company (There current holdings
to be brought down to this level over a period of time.)

Customer Service:

1. LIC should pay interest on delays in payments beyond 30 days.

2. Insurance companies must be encouraged to set up unit linked pension plans.

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3. 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 open up to competition. But at the same time, the
committee felt the need to exercise caution as any failure on the part of new players could ruin the
public confidence in the industry. Hence, it was decided to allow competition in a limited way by
stipulating the minimum capital requirement of Rs. 100 crores. The committee felt the need to
provide greater autonomy to insurance companies in order to improve.

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 Insurance Regulatory Authority
On the recommendations of the Malhotra Committee, government has set up an interim Insurance
Regulatory Authority (IRA), with a view to activate an insurance regulatory apparatus essential for
proper monitoring and control of the insurance industry. The Iraqis headed by a chairman who is
also Controller o0f insurance and chairman of TBC. The other members of the IRA, not exceeding
seven in number of whom not more than three shall serve full time, shall be nominated by the
central government.
INSURERS:
Insurance industry, as on 1.4.2000, comprised mainly two players: the state insurers:
Life Insures:
•Life Insurance Corporation of India (LIC)
General Insurers
•General Insurance Corporation of India (GIC) (with effect from Dec ‘2000, a national reinsurer)

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12
 4 I’s of Insurance Service
The 4 I’s refers to the different dimensions/ characteristics of any service. Unlike pure product,
services have its own characteristics and its related problems. So, the service provider needs to
deal with these problems accordingly. The service provider has to design different strategies
according the varying feature of the service. These 4 I’s not only represent the characteristics of
different services but also the problems and advantages attached to it.
These 4 I’s can be broadly classified as:
•Intangibility
•Inconsistency
•Inseparability
•Inventory

•Intangibility:
Insurance is a guarantee against risk and neither the risk nor the guarantee intangible. Hence,
insurance rightly come under services, which are intangible. Efforts have been made by the
insurance companies to make insurance tangible to some extent by including letters and forms.
Inconsistency
Service quality is often inconsistent. This is because service personnel have different capabilities,
which vary in performance from day to day. This problem of inconsistency in service quality can be
reduced through standardization, training and mechanization.
Inseparability
Services are produced and consumed simultaneously. Consumers cannot and donor separate the
deliverer of the service from the service itself. Interaction between consumer and the service
provider varies based on whether consumer must be physically present to receive the service.
Inventory
No inventory can be maintained for services. Inventory carrying costs are more subjective and lead
to idle production capacity. When the service is available but there is no demand, cost rises as,
cost of paying the people and overhead remains constant even though the people are not required
to provide services due to lack of demand.

In the insurance sector however, commission is paid to the agents on each policy that they sell.
Hence, not much inventory cost is wasted on idle inventory. As the cost of agents is directly
proportionate to the policy sold.

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 GENERAL INSURANCE
With the opening up of the insurance industry to the private sector, the need for a strong,
independent and autonomous Insurance Regulatory Authority was felt. As the enacting
of legislation would have taken time, the then Government constituted through a Government
resolution an Interim Insurance Regulatory Authority pending the enactment of a comprehensive
legislation. The Insurance Regulatory and Development Authority Act, 1999 is an act to provide for
the establishment of an Authority to protect the interests of holders of insurance policies, to
regulate, promote and ensure orderly growth of the insurance industry and for matters connected
therewith or incidental thereto and further to amend the Insurance Act, 1938,the Life Insurance
Corporation Act, 1956 and the General insurance Business(Nationalization) Act, 1972 to end the
monopoly of the Life Insurance Corporation of India (for life insurance business) and General
Insurance Corporation and its subsidiaries(for general insurance business).Definition and
meaning:
1.INSURANCE:
Insurance is the means of managing risk and protection against financial loss arising as a result of
contingencies, which may or may not occur. In other words, insurance is the act of providing
assurance, against a possible loss, by entering into a contract, with one who is willing to give
assurance. Through this contract the person willing to give assurance binds himself to make good
such loss, if itoccurs.12

2.GENERAL INSURANCE:
General insurance means managing risk against financial loss arising due to fire, marine or
miscellaneous events as a result of contingencies, which may or may not occur. General
Insurance means to “Cover the risk of the financial loss from any natural calamities viz. Flood, Fire,
Earthquake, Burglary, etc. i.e. the events which are beyond the control of the owner of the
goods for the things having insurable interest with the utmost good faith by declaring the facts
about the circumstances and the products by paying the stipulated sum , a premium and not
having a motive of making profit from the insurance contract. “Some of the General Rules:
1.Mis-description: The insurance policy shall be void and all the premiums paid by insured may be
forfeited by the insurance company in the event of mis-presentation or mis-declaration and/or non-
disclosure of any material facts.
2.Reasonable care: The insured shall take all reasonable steps to safeguard the property insured
against any loss or damage. Insured shall exercise reasonable care that only competent

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employees are employed and shall take all reasonable precautions to prevent all accidents and
shall comply with all statuary or other regulations13

3.Fraud: If any claim under the policy may be in any respect fraudulent or if any fraudulent means
or device are used by the insured or any one acting on the insured’s behalf to obtain any benefit
under the insurance policy, all the benefits under the insurance policy may be forfeited.4.

Few basic principles of general insurance are:

1.Insurable interest
2.Utmost good faith
3.Subrogation
4.Contribution
5.Indemnity

Risks of loss not covered under general insurance are:

The loss or damage or liability or expenses whether direct or indirect occasion by happening
through or arising from any consequences of war, invasion, act of foreign enemy, hostilities
(whether war be declared or not), civil war, rebellion revolution, civil commotion or loot or pillage in
connection therewith and loss or damage caused by depreciation or wear and tear. However, the
risk of loss or damage by war can be insured by payment of additional premium in some cases
only

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 COMPANY PROFILE

The History of Indian Insurance Industry

A new general insurance startup Digit Insurance is redefining the insurance industry by going
completely digital.

Digit Insurance comes with an aim of ‘Making Insurance Simple’. Started by , who has been
associated in the insurance space for over two decades, and backed by Fairfax Group, which is
amongst the largest General Insurance companies in the world, Digit Insurance is reimagining
products and redesigning processes to provide simple and transparent insurance solutions, that
matter to consumers.

Digit started with a capital base of around Rs 350 crore which is one of the highest, that any
insurance company has started with. It is also one of the fastest to market, having launched
products across 3 categories (Motor, Travel, Personal accessories) within the first 12 months of
starting operations. Digit has crossed the important milestone of 1.5 lakh customers in less than 4
months.

Digit has become one of the fastest growing insurance start-ups in the world by crossing 1.5 lakh
customers in less than 4 months. It has partnered with Paytm, Amazon, Policy bazaar, Clear trip
for products across Mobile, Car, and Travel insurance.

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Digit Insurance is a general Insurance startup. Talk to us about the business
model it has adopted?

The company was incorporated in late 2016. It took us some time to get the license. We started
our business in real seriousness in November 2017. So, we have completed about eight months of
our operations. We are a full bouquet insurance company and have a very large partnership and
distribution network.

In the first four months of operation, we achieved about Rs 104 crores in terms of the overall top
line. Some of it is on the premium on the reinsurance book, and significantly a large number on the
on the retail book.

We also have our presence on the corporate side in terms of research. We are also doing a bit of
co-insurance, and reinsurance on the large corporates. And then we have our direct channel.
Technology plays an extremely important role in our operations.

On the partnership side, we have partners, both on the corporate side and we also work with a lot
of retail distribution on the ground. And these are typically the different problems of each of these
partners that we are trying to solve in terms of deployment or customization of our products, you
know,

How is Digit Insurance is moving onto the next phase of going digital?

We believe that ‘Claims are Good’. Typically, a lot of insurance companies in the market, have the
perspective that claims would result in a hit on their bottom line. This makes them a bit more
defensive in terms of how they approach claims. But from our perspective, I think one of the
philosophies we follow on the product side is that claims are the reason that we exist, and
customers are buying our products for those days, when there would probably be a claim.
Obviously, providing a hassle-free claims experience is an extremely important aspect of our
business.

Let me explain this with an example. We have a domestic travel delay product. We're probably the
only company that goes to its customers and informs them that they have a claim.

If somebody is booked on a flight, and the flight is delayed beyond 75 minutes then depending
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upon certain sectors and certain airlines, we typically pass on a benefit in terms of the expenses
that they incur because of the delay like buying some food, coffee or a book. If the flight is delayed
beyond that, then we pay the claim.

Typically, most insurance companies would wait for the customer to understand that there is a
delay, and go through the process of, calling them up and registering the claim. We completely do
the inverse. On behalf of the customer we track the airline and flight that our customers are
traveling and inform them. We send them an SMS as soon as we understand that there is a
potential delay which is beyond 75 minutes. As soon as it is 75 minutes or more, in terms of a
delay, we would then send them an SMS for an available claim.

Now, technology plays an extremely important role in making this a hassle-free experience. It is
possible for us to even predict in advance if a flight that the customer is traveling is a delayed or
not. We are able to see the route of the aircraft and predict if it will get delayed. We then send an
SMS to the customer. There is a link on that SMS and if the customer clicks it then it allows him to
take a picture of his boarding pass. He can put in his bank account number, and then there is an
immediate claim registration and approval, and the money gets transferred to the customer’s
account.

BENGALURU: General insurance startup Digit Insurance has raised Rs 315 crore in a second
round of funding from Fairfax Holdings mainly aimed at expanding its footprint across the country
to smaller towns and strengthen its tech platform as well. This is Prem Waste owned Fairfax’s
second investment in the company, which put in Rs 350 crore in the first round in 2017.

Fairfax is also the largest shareholder of Digit. Digit Insurance is a subsidiary of Go Digit Info
works which has raised the funds, while it has channelized Rs 310 crore into Digit Insurance, Rs 5
crore has been invested in the parent company.

Armed with the total funds of Rs 665 crore Digit is aiming to make buying and claiming insurance
products simple and completely digitized for Indian consumers. The company has come up with
innovative products like jewelry insurance, insurance against flight delays and others.

“We are looking at major expansion opportunities for our product line as well as our locations of
operation and staff strength, looking at the growth path we felt the need for this second round of
funding,” said Kamlesh Goyal who is the chief executive officer and the other major shareholder

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after Fairfax in the company.

Goyal said that the locations that they are targeting are spread across towns like Siliguri, Ranchi,
Patna, Gauhati in the east, Nagpur in Maharashtra, Coimbatore in Tamil Nadu and Srinagar in
Jammu and Kashmir among other places.

“Though our product line is mainly digitized, we have some physical presence in these locations
mainly for sales support and relationship management,” he said. “We have 525 people at present
and we wish to scale it up by another 200 by September this year.” “Among the policies sold the
major chunk in terms of the number is from travel segment, we also have motor insurance policies
whose premium amount adds up to become larger than other categories,” said Goyal. “Going
ahead we will stress on project insurance with an average tenure between three to five years.”

Digit Insurance is completely paperless in terms of documentation for claims

and products. How is the startup trying to go completely digital?

From the day we started our motor insurance product, we came out with pre-inspection app. As
soon as a customer comes to our portal, whether it's a direct portal, or a partnership portal, and we
are able to determine that the previous policy has expired and there is a gap in insurance, we
would immediately generate an SMS based link, which gives him guided instructions in terms of
carrying out the pre-inspection. The Pre-inspection (PI) app allows the customer to take 8 -10
pictures which gets loaded into our system automatically through the link itself, and then we can
turn this around significantly faster. Our SLA is that within 60 minutes of the app completing the
inspection we provide an approval on whether the customer is on the books or not on the books.
This is enabled by technology.

We have a roadmap in terms of self-service tools. We have a pre-inspection app at the issuance
stage. We have a similar concept on the claims side as well. So, when you go to the claim side,
you don't really need to wait for a surveyor to come. Even if you take the vehicle to the garage, this
self-survey application for the claims is available. 95% of our claims gets done through this video
based, and photograph based self-serving application. And 80% of those claims are approved
within 24 hours, as soon as we get the data from either the customer or from the garage, which is
also our partner.

On the policy side as well, there is a facility that the customers can purchase the policy directly on
19
our website. We are in the process of building a multi lingual customer portal that allows a lot of
servicing requests like change of address.

We want to have zero paper within our perimeter. And that's the crux of the word DIGIT as well.
We want to ensure that everything is digital, in terms of our approach itself to the market. So, for
example, on the claims side, a lot of insurance companies get you to physically sign or claims
form. We've completely done away with that. In fact, for our motor claims we don't have any claim
form. And it is completely on audio. So, the customer when the calls us there is a set of information
elicitation that we do. And then this forms the basis of the claim and we take it forward from there.

Digit Insurance is one of the first insurance companies to be fully on cloud.

How has it benefitted the company?

From day one our philosophy is to be hundred percent on the cloud. There is an active disaster
site on the Amazon Cloud itself.

We will always be an API based company. We are the only company which has an API interface to
do endorsements. There are certain partners who want to cancel the policy after having issued it,
for whatever reasons, because their customer cancels. We have an API today, which allows our
partners to cancel or make amendments to the policy. This is not something that you typically find
in a lot of insurance companies. From day one, we've always said that we will have our API
gateway for large integrations with quite a few partners in the market which can be executed and
implemented well, if you have a cloud-based kind of an architecture with this.

Company Details

CIN U66010PN2016PLC167410

Company Name GO DIGIT GENERAL INSURANCE

LIMITED

Company Status Active

RoC RoC-Pune

20
 CIN U66010PN2016PLC167410

Registration 167410
Number

Company Company limited by Shares

Category

Company Sub Non-govt company

Category

Class of Public
Company

Date of 07 December 2016

Incorporation

Age of Company 2 years, 2 month, 6 days

Activity Insurance and pension funding, except

compulsory social security.

Number of -
Members

Share Capital & Number of Employees

Authorised Capital INR 66500.0 Lacs

Paid up capital INR 61956.522 Lacs

Listing and Annual Compliance Details

Listing status Unlisted Public

Company

Date of Last Annual General 02 August, 2018

Meeting

21
 Listing status Unlisted Public
Company

Date of Latest Balance Sheet 31 March, 2018

The most recently appointed director is Sameer Mukund Bakshi, who was appointed on 26
October, 2018.

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Products and Service on Offers from Go Digit General Insurance Limited

From Health to Jewellery insurance, Go Digit General Insurance has a number of general
insurance services to offer its customers in India. Find out the different products on offer from Go
Digit.
Health Insurance
Go Digit General Insurance provides unique health insurance plans on both individual and floater
basis. Mediclaim policy from Go Digit comes with high coverage and that too at an affordable
price. These polices can be purchased or renewed online from the official website of Go Digit.
Car Insurance
Car Insurance policy from Go Digit Insurance Limited is remarkable in terms of providing extensive
coverage at a Higher Insured Declared Value (IDV). Both third party and comprehensive cover for
car insurance are provided by Go Digit. Apart from these, the Go Digit car insurance also comes
with additional services such as daily conveyance, advance cash repairs, breakdown assistance
etc and much more.

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Two-Wheeler Insurance
Bike insurance policy form Go Digit Insurance is designed to provide comprehensive protection
against a number of calamities such as theft, fire, vandalism, earthquake, storm, hurricane etc. Go
Digit offers two-wheeler insurance plans with the highest coverage and at the lowest premium.
Travel Insurance
Go digit offers travel insurance plans for both domestic and international travels. Flight delay, Trip
cancellation, Delay in checked-in baggage, Accidental death & disability (Common Carrier),
Emergency accidental treatment, Personal accident, Total loss of checked-in baggage etc. are
covered under the travel insurance policy form Go Digit General Insurance.
Commercial Vehicle Insurance
Different commercial vehicles such as Bus, Taxi, Van, Lorry, Truck etc are covered under this
policy. The commercial vehicle insurance policy from Go Digit General Insurance is designed to
protect you against financial crisis from repairing costs. You can easily buy or renew Go Digit
commercial vehicle insurance online by simply visiting the company’s website.
Mobile Insurance
Mobile insurance policy form Go Digit General Insurance Limited is designed to cover various
mobile or smartphone related damages like Damages to the Screen, Accidental damage, Liquid
damage, Theft etc.
Jewelry Insurance
Jewellery insurance from Go Digit offers protection to your jewellery. The coverage can still be
availed regardless of the person who wears the jewellery at the time of theft. The policy provides
theft coverage which means you will get full value of the stolen jewellery. It also comes with
worldwide coverage and accidental damage coverage.
Home Insurance
Since there’s nothing more important than a home, it’s very much significant to secure your
dwelling temple with the best home insurance policy. Home insurance policy from Go Digit Home
insurance online provides wide-ranging coverage against financial liabilities coming out of the
loss/damage to your home or/and the contents inside due to man-made or natural reasons. You
can easily get quotes on home insurance online from Go Digit’s official website.

Benefits of Go Digit Insurance

Uncountable exclusive benefits can be availed if you choose to buy Go Digit insurance online. The
policies offered from Go Digit stand apart from all other general insurance providers in India. Go
Digit General Insurance puts its customers first in all circumstances, be it the matter of buying

24
insurance online or filing claims. Find out some of the best benefits that you can enjoy if you buy
insurance policy from Go Digit.
Instant Online Quotes
Get insurant quotes from Go Digit on the particular type of insurance plan you wish to buy online.
All you need to do is log into the official website of the company and thereafter enter only
necessary details.
Lowest Premium
Go Digit General Insurance provides various insurance solutions at the lowest premium. Not only
this, the insurance policy from Go Digit also provides extensive coverage options at an
exceptionally minimal price.
Cashless Facility across India
In terms of health and motor insurance policies, you can easily get your claim settled through the
cashless garages or hospitals registered under the company. Go Digit provides cashless claims
facility all over India.
Quick and Transparent Claim Settlement
Go Digit general insurance provides easy and transparent claim settlement for each of their
products when a claim is registered with them. They make sure that each of their customers get
the best benefits and get their claim settled in a simpler yet easier way.

Insurance Made Simpler

Go Digit General Insurance Limited primarily focuses on making the whole process of insurance
very much simpler to all the people living in India and this is their motto indeed upon which they
construct all of their future strategies. The company has made insurance simple so you can
understand it by making it easy to use. They do not impose stress on needless terminology. Go
Digit insurance only works toward providing best insurance plans at lower premiums with super-
smooth claims process. Go Digit is here to ‘Make Insurance Simple’.
Conveyance Allowance
For the first time in India, Go Digit General Insurance is offering daily conveyance with cab
vouchers worth Rs. 200/- per day for three days after you register your claim.
Breakdown Assistance
In case your car faces breakdown resulting out of flat battery, flat tyre etc, Go Digit insurance
provides instant assistance within a specified time period to help you out with towing facilities,
minor repairs, any medical coordination, relaying an urgent message to relatives, fuel assistance
and even accommodation benefits (if you need).

25
Online Renewal and Purchase
In the age of technology, Go Digit has made all the best use of these modern developments. Go
Digit offers their insurance policies online. You can easily get quote and buy insurance online by
visiting the official portal of Go Digit. On the other hand, you can instantly renew your policy online
from Go Digit without having to face any hassle. Just make the payment on your renewal or
purchase premium securely online and you will be done with the Go Digit insurance online.
24/7 Support
Go Digit provides 24/7 customer service assistance throughout the year to help their customers
and clients with all the required services regarding policy purchase, renewal, claim registration,
policy cancelation, premium payment etc.

How to Buy Go Digit Insurance Online?

Buying insurance policies nowadays online has become much easier than it was in the past times.
All you will be required to do is just log into the official portal of your preferred insurer in India and
thereafter choose the type of policy you would like to buy or renew. The process is similar for Go
Digit Insurance too. In order to buy or renew any insurance plan from Go Digit General Insurance,
just log into the official portal of the company. Thereafter, choose your policy type and coverage.
Get instant quote online and fill the form by enter the necessary details. After that, make a
payment of your premium online via credit card, debit card or net banking and in the end of
everything you will be done with the purchase of Go Digit Insurance online.

Go Digit General Insurance Renewal Online

The renewal process of Go Digit insurance is just as simple and easy as buying policy from Go
Digit online. For the renewal of your Go Digit insurance plan, as usual, you will have to log into the
official portal of the company. Thereafter, select your policy, enter previous policy number and
other details for instant renewal and get quote. Pay the premium online and you will be done with
the renewal of Go Digit insurance online.
Note
Go Digit General Insurance Limited being one of the largest general insurance companies certainly
provides unique general insurance solutions online. However, it should be kept in mind that, you
can always compare these policies online with other insurers anytime as per your interest. The
comparison can help you grab the best insurance plan at a budget within your affordability.

26
 RESEARCH METHODOLOGY

Methodology is a systematic way of solving a problem it includes the research methods for solving
a problem it includes the research methods for solving the problem.

Type of research - Descriptive research

Data source -Primary and Secondary data

Data collection method -Interview and survey

Data collection tools -Questionnaires

Sampling Area -New DELHI

Sample size -50

OBJECTIVE

Main objective of the research is to have an analysis of Go Digit General Insurance Industry in
Delhi.
To accomplish this objective, it has been divided into five: -

•To determine reasons behind opting for an insurance.

•To know the most preferred policy.
•To determine customers perception towards private insurance companies and their expectation
form private insurance companies.
•To determine the feedback on services provided by an insurance agent.
•To study the types of benefits provided by insurance services.

27
 SCOPE OF THE STUDY

A big boom has been witnessed in Insurance Industry in recent times. A large number of new
players have entered the market and are trying to gain market share in this rapidly improving
market. The study deals with reliance in focus and the various segments that it caters to. The
study then goes on to evaluate and analyse the findings so as to present a clear picture of trends
in the Insurance sector.

SIGNIFICANCE TO THE INDUSTRY:

This is a limited study which takes into consideration the responses of 50 people. This data can be
exported to take in the trends across the industry. The significance for the industry lies in studying
these trends that emerge from the study. It is a rapidly changing and evolving sector. People are
only beginning to wake up to its vast possibilities. A study like this can attempt to guide the future
of the industry based on current trends.

SIGNIFICANE FOR THE RESEARCHER:

To facilitate and provide useful information for the of the company and the insurance industry and
also provide recommendations for Go Digit General Insurance

RESEARCH DESIGN
•Non-Probability
•Exploratory & Descriptive experimental Research

The research is primarily both exploratory as well as descriptive in nature. The sources of
information are both primary & secondary. A well-structured questionnaire was prepared and
personal interviews were conducted to collect the customer’s perception and buying behaviour,
through this questionnaire.

SAMPLING METHODOLOGY

Sampling Technique:
Initially, a rough draft was prepared keeping in mind the objective of the research. A pilot study
was done in order to know the accuracy of the Questionnaire. The final Questionnaire was arrived
28
only after certain important changes were done. Thus, my sampling came out to be judgemental
and convenient

Sampling Unit:
The respondents who were asked to fill out questionnaires are the sampling units. These
comprise of employees of MNCs, Govt. Employees, Self Employed, students etc.

Sample size:
The sample size was restricted to only 50, which comprised of mainly peoples from different
regions of Delhi due to time constraints.

Sampling Area:
The area of the research was Delhi, India.

SOURCES OF DATA

After identifying and defining the research problem and determining specific information
required to solve the problem the researcher will look for the type and sources of data which
may yield the desired results, while deciding about the method of data collection to be used for
the study, there are two types of data.

DATA SOURCE
The task of data collection begins after a research problem has been defined. In this study data was
collected through both primary and secondary data source.

A. PRIMARY DATA
A primary data is a data, which is collected for gathering information first time and to analyze the
problem. In this study the primary data was collected among the consumers using questionnaire.

B. SECONDARY DATA
Secondary data consist of information that already exist somewhere, having been collected for
some other purpose. In this study secondary data was collected from company websites,
magazines and brochures.

29
 LIMITATIONS OF THE RESEARCH

1. The research is confined to a certain part of Delhi and does not necessarily shows a pattern
applicable to all of Country.

2. Some respondents were reluctant to divulge personal information which can affect the validity of
all responses.

3. In a rapidly changing industry, analysis on one day or in one segment can change very quickly.
The environmental changes are vital to be considered in order to assimilate the findings.

30
 DATA ANALYSIS & INTERPRETATION

ARE YOU EMPLOYED?

Response No. of respondents Share%

Yes 33 66%

No 17 34%

Total 50 100%

Share%

34%

66%

yes no

INTERPRETATION

 Out Of the sample size of 50 surveyed respondents 66% of the respondents are employed,
this means respondent can appear with different know how, experience, exposer with issue
under the consideration and hence they can see the problem from different angles and can
make decision related to kind of insurance policy they are required.

31
DO YOU HAVE ANY INSURANCE POLICY?

response No. of respondents Share%

yes 29 58%
no 21 42%
total 50 100%

Share%

42%

58%

yes no

INTERPRETATION

 Out Of the sample size of 50 surveyed respondents 58% of the respondents are having
Insurance policy.
 42% of the respondents are either not any insurance policy at present or their policy is
already matured.
 And at present 100% of the respondents are with the view that Insurance is a tool to protect
your family.

32
IF, YES WHICH INSURANCE COMPANY POLICY DO YOU HAVE?

Companies name No. of students Share%

L.I.C 23 46%

ICICI PRUDENTIAL 4 8%

SBI LIFE INSURANCE 5 10%

Bajaj Allianz 9 18%
OTHER 9 18%
Total 50 100%

Share%

18%

46%
18%

10%
8%

L.I.C ICICI PRUDENTIAL SBI LIFE INSURANCE Bajaj Allianz OTHER

INTERPRETATION
 It showed that one of the most popular brands in the city is LIC, it seems about 46% of the
people contacted prefer LIC policy to any other and therefore it is ranked no.1 by that
percent of respondents.
 8% prefer icici prudential company policy 10% prefer sbi life policy, 18 % prefer Bajaj Allianz
policy and rest 18% people contacted to prefer any other polices of the company. ( max life,
Aviva Life, iffco tokio, oriental, Insurance Company India Ltd,)

33
WHICH KIND OF INSURANCE POLICY DO YOU HAVE?

Policy type No. of respondents Share%

Life policy 23 46%

Non-life policy 12 24%

Both 15 30%
total 50 100%

Share%

30%

46%

24%

Life policy Non-life policy Both

INTERPRETATION
 46% of the respondents have only Life Insurance Policy.
 While 30% of the respondents have both
 24% of the respondents have only Non- life Policy

34
PERSONS HAVING INSURANCE FOR

response No. of respondents Percentage

self 15 30%

spouse 10 20%

Children 11 22%

parents 9 18%

all 5 10%

total 50 100%

Percentage

10%

30%
18%

22% 20%

self spouse Children parents all

INTERPRETATION

Among that 50 people who having insurance, they have insurance 30% for self, 20%for spouse
,22% for children and18% for their parents and 10% for all family member.

35
WHO INFLUENCE YOU TO GET INSURED?

Response No. of respondents Share %

INSURANCE AGENT 11 22%

ELECTRONIC MEDIA 5 10%

PRINT MEDIA 1 2%

FRIENDS AND RELATIVES 33 66%

TOTAL 50 100%

Share %

22%

10%

66%
2%

INSURANCE AGENT ELECTRONIC MEDIA PRINT MEDIA FRIENDS AND RELATIVES

INTERPRETATION
 (66%) Majority of the people said that they were influenced by friends and relatives, and
22% said that they came to know about insurance through agents and 10% said that they
came to know about the insurance through electronic media and rest 2% said that they
came to know about it through print media
 This shows that friends and relatives as well as insurance agent place a key role in
insurance business

36
WHAT PARAMETERS DO YOU LOOK INTO BEFORE YOU TAKE UP An INSURANCE POLICY?

FEATURE NO. OF RESPONDENT SHARE%

LOW PREMIUM 25 50
INTEREST 4 8
INSURANCE 6 12
TAX SAVING 7 14
LONG TERM PERIOD 3 6
SHORT TERM PERIOD 5 10
TOTAL 50 100

share%

10
6

14
50

12
8

low premium interest insurance

tax saving long term period short term period

INTERPRETATION
It seems that main criteria for selection of plan was low premium, as round about 50%voted in
favor of it, well 14% of the people also preferred tax savings, as well as short terms periods.
There were persons who like to go for interest and benefits, these account 8% and a special
segment (ie.6%) of high income like the criteria for long term period as well as the good returns
with it. 12% of the people preferred insurance benefits

37
WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE POLICY?

Benefits No. of respondents Share%

Cover Future Uncertainty 25 50%

Tax Deduction 6 12%

Future investment 16 32%

OTHER 3 6%
total 50 100%

Share%

6%

32%
50%

12%

Cover Future Uncertainty Tax Deduction Future investment OTHER

INTERPRETATION
 50% of the respondents believe that covering future uncertainty is the biggest benefit of an
insurance policy.
 Whereas, 12% and 32% of them believe that the other benefits are Tax deduction and
future investments respectively. And rest 6% in other benefits like savings etc.

38
WHAT’S YOUR PERCEPTION ABOUT INSURANCE POLICY?

Benefits No. of respondents Share%

future security 33 66%

tax deduction 8 16%

future investment 9 18%

total 50 100%

Share%

18%

16%

66%

future security tax deduction future investment

INTERPRETATION

 Future Security--66%Tax Deductions--16%Future Investment--18%. The majority of

consumer find it as future security followed by tax saving.

39
ARE YOU SATISFIED WITH INSURANCE POLICY?

response No. of respondents Share%

Satisfied 23 46%

Not satisfied 13 26%

NOT RESPONDED 14 28%

TOTAL 50 100%

Share%

28%

46%

26%

Satisfied Not satisfied NOT RESPONDED

INTERPRETATION
 46% of the respondents are more or less satisfied with their existing policy.
 while conducting the study 'we have met many respondents 'who think that many of the
companies provide them satisfactory services only till the policy is being taken by the
respondent but after that if there is any requirement from the point of view' of the customer
the company does not pay the same attention to them as they had paid earlier.so nearly
26% of the respondents feel that services (both pre and post sales) provided by the
company is highly important to consider before undertaking any kind of insurance policy

40
ARE YOU SATISFIED WITH INSURANCE SERVICE AGENT?

response No. of respondents Share%

Satisfied 25 50%

Not satisfied 11 22%

NOT RESPONDED 14 28%

TOTAL 50 100%

Share%

28%

50%

22%

Satisfied Not satisfied NOT RESPONDED

INTERPRETATION
 50% of the respondents are more or less satisfied with their existing policy.
 22% of the respondents are not satisfied with their existing policy.
 28% doesn’t responded or are having neutral reaction

41
DO YOU PAY TAXES?

response No. of respondents SHARE%

PAYING TAX 29 58%

NOT PAYING TAX 21 42%

TOTAL 50 100%

SHARE%

42%

58%

PAYING TAX NOT PAYING TAX

INTERPRETATION
 Of the sample size of 50 respondents, 58% respondents are paying tax. And 42% does not
pay tax because While this is the main reason to buy insurance, most people buy these
plans just to save tax

42
WHICH IS THE BEST FORM OF INVESTMENTS?

FORM OF INVESTMENT NO. OF RESPONDENTs SHARE%

Fixed Asset 7 14%

Bank Deposit 12 24%

Jewelry 5 10%

Securities i.e. bonds, MFs 7 14%

Shares 9 18%

insurance 10 20%

total 50 100%

SHARE%

14%
20%

24%
18%

14% 10%

Fixed Asset Bank Deposit Jewellery

Securities i.e. bonds, MFs Shares insurance

INTERPRETATION

 24% believes in bank deposits and 14% of the respondents are with the view that Fixed
Assets is the best form of investment for securing their future.
 20% of the respondents are with the perception that Insurance is the best form of
investment for securing their future, which is 2nd highest and this shows that insurance is
an important key for securing your future.

43
HOW WOULD YOU RATE INDIAN INSURANCE COMPANY?

Response No. of respondents Share %

Rigid plan 6 12%

NON-USER FRIENDLY 3 6%

Unsatisfactory service 4 8%

Non-aggressive 5 10%

satisfactory 25 50%

Very good 7 14%

TOTAL 50 100%

Share %

14% 12%
6%

8%

10%
50%

Rigid plan NON USER FRIENDLY Unsatisfactory service

Non-aggressive satisfactory Very good

INTERPRETATION
 12% of the respondents have the opinion that Indian Insurance Companies have Rigid
plans,6% feel that Indian Insurance companies are Non-user friendly,8% feel that services
of Indian Insurance companies are Unsatisfactory.10% of the respondents are with the view
that Indian Insurance companies are Non-aggressive.
 50% of the respondents feel that products and services of Indian Insurance companies is
Satisfactory, whereas only 14% feel that it is Good enough.

44
WHAT WOULD YOU LOOK FOR IN AN INSURANCE?

Response No. of respondents Share %

a trusted name 11 22%

FRIENDLY SERVICES AND

13 26%
RESPONSIVNESS
GOOD PLANS 22 44%

ACCESIBILITY 4 8%

TOTAL 50 100%

Share %

8%
22%

44% 26%

a trusted name
FRIENDLY SERVICES AND RESPONSIVNESS
GOOD PLANS
ACCESIBILITY

INTERPRETATION
 44% customers look for a good plan in a company for insurance. & 22% customers look for
a Trusted name in a company for insurance.
 Friendly service & responsiveness and Accessibility are also important factors looked by
customers in a company.
 Hence it can be inferred that good plans are very important factor, which majority of
customer looks for buying policy from an insurance company

45
PEOPLE PLANNING FOR NEW INVESTMENTS

Response No. of respondents Share %

Planning 43 86%

Not planning 7 14%

Total 50 100%

Share %

14%

86%

Planning Not planning

INTERPRETATION
 Only 14% of the customers contacted are not planning for new investments presently.
 well first and foremost result that 86%of the people are looking or planning for profitable
opportunities to invest their money

46
 CONCLUSION
The study helped a lot to understand the consumer buying decision process, thereby answering the
questions "why" and "how" a customer buys his insurance policies. The study also helped to find out
the importance given by the customers to the agent's behaviour, knowledge and appearance. After
the analysis of the data collected the following conclusions can be drawn:
1) It was found that people who have bought their policy because some agent coaxed him, is not
satisfied with their existing policy and some even remarks that life insurance is not necessary at all
in today's scenario.
2) Life Insurance Corporation of India still enjoys massive popularity among the Indian crowd. People
still prefers LIC over other private players. In fact, people have made the name LIC synonymous
with insurance.
3) It was found that the most important reason, why a customer to buy an insurance product is to
cover the future uncertainty and to get deduction in. This pattern is very prominent among the
younger individuals, who have recently become financially independent. Older people consider life
coverage as the most important reason.
4) It was proved that friend and peer groups have a great influence among the people
Again, this pattern is more prevalent among the youth. Apart from its insurance agent also plays an
important role to influence people and electronic and print media were also considered as an
important information source by the people.
5) When a person evaluates the alternatives available to him while buying an insurance policy, his
most important criterion is whether a company is public or private. Product features and amount of
premium are also considered as important criteria to select a particular company.
6) Most of the people admitted that their purchase decision was affected by the agents/ brokers.
This also signifies the importance of an agent in helping the customer to make the purchase decision.
Friends' suggestions and advices also influence the purchase decision.
7) Product features of an insurance policy like tax rebate, savings, investment and life cover are
strongly considered as the determining factor for selecting a company.
8) People regard advertising and word of mouth as very relevant factors for selecting a company.
The advertising can be any form like print media, television commercials or other electronic media.
Word of mouth account for the goodwill of the company, which it has earned through its years of
devoted and dedicated service to its customers.
9) Agent's knowledge influences greatly the purchase decision of a customer. Therefore, agents
should be properly trained about the behavioural aspects as well. Proper emphasis should be given
to improve the soft skills of the agents.
10) it was found that more people use to save there earning either via bank deposits or in the form
of fixed assets rather than insurance or shares debentures etc.
47
 RECOMMENDATIONS

After the analysis of the data collected and review of the findings, it was found that the study served
its purpose by achieving the objectives. The findings provided insight into discovering the factors
which affects the customers' preferences of an insurance company. The following recommendations
can be made based upon the findings and conclusion:
1) Training of Agents: The agents/ financial consultants are the person who comes in direct contact
with the customers most frequently. Therefore, it becomes imperative to provide them the best of
the training. The training should not be confined only to providing product knowledge. Behavioural
aspects, especially the soft skills are also very important. The agents should also be given training
in a way which will compel them to serve their duty ethically. By making the agents ethically right,
their tainted image can be wiped out.
2) Providing excellent moments of truth: Moments of truth are the instances when a customer
comes in contact with the organization. The company should consider all the necessary steps which
can provide the best moments of truth so that every time a person encounters something related
with the company, he should derive a favourable impression about it.
3) Product features: Product features are considered to be very influencing in the selection of
company. It should be considered with utmost importance while formulating any communication
strategy.
4) Communication Strategy: Advertising came out to be the most effective mode of
communication. Sales promotion and word of mouth are determining factors and influences the
customers' preferences. Therefore, proper weightage should be given to advertising and sales
promotion. As far as favourable word of mouth is concerned, this can be achieved only in the long
run with dedicated service to the customers. Direct marketing approaches like telemarketing, junk
mails are considered to be discomforting and this mode of communication should be used very
cautiously.
5) Premium of the policies: Low premium are considered preferable by most of the people. So, a
little reduction is the premium amount can help to cater for a larger customer base and even the
rural areas can also be entertained.
6) Accessibility: LIC enjoys huge popularity because of its easy accessibility. The number of agents
of LIC is far more than of others. So, more emphasis should be given to acquire efficient financial
consultants. Nevertheless, the quality of the financial consultants should not be compromised for
quantity.
7) Office Ambience: People consider the office ambience to be very important and deciding. The
office ambience should be pleasing to the customers. Therefore, proper consideration should be
given to the office lightening, layout and cleanliness.
48
8) Processes: Some important processes like better claim settlement, convenient payment system
and better complaint redressal are prerequisite for a service industry company. So, proper
importance should be given to them and make these processes as customer friendly and less
troublesome as possible.

49
 BIBLIOGRAPHY

WEBSITES REFERRED
 www.godigit.co.in
 www.quora.com
 economictimes.indiatimes.com
 www.bloomberg.com
 https://www.scribd.com/doc/16523445/Project-on-General-Insurance

50
 ANNEXURE

QUESTIONNAIRE

1. ARE YOU EMPLOYED?

a) Yes

b) No

2. DO YOU HAVE ANY INSURANCE POLICY?

a) YES
b) NO
3. PIF YES WHICH COMPANIES INSURANCE POLICY DO YOU HAVE
a) L.I.C
b) ICICI Prudential
c) SBI LIFE INSURANCE
d) Bajaj Allianz
e) Other

4. WHICH KIND OF INSURANCE POLICY DO YOU HAVE?

a) Life policy
b) Non-life policy
c) both

5. PERSONS HAVING INSURANCE FOR

a) Self
b) Spouse
c) Children
d) Parents
e) All

51
6. WHO INFLUENCE YOU TO GET INSURED
a) Insurance Agent
b) Electronic Media
c) Print Media
d) Friend and Relatives

7. WHAT PARAMETERS DO YOU LOOK INTO BEFORE TAKE UP AN Insurance Policy

a) Low Premium
b) Interest
c) Insurance
d) Tax Saving
e) Long Term Period
f) Short Term Period

8. WHAT DO YOU THINK ARE THE BENEFITS OF INSURANCE POLICY?

a) Cover Future Uncertainty

b) Tax Deduction
c) Future investment
d) Other

9. WHAT IS YOUR PERCEPTION ABOUT INSURANCE POLICY

a) Future Benefits
b) Tax Deduction
c)Future Investment

10. ARE YOU SATISFIED WITH INSURANCE POLICY?

a) Satisfied
b) Not satisfied
c) NOT Responded

11.ARE YOU SATISFIED WITH INSURANCE SERVICE AGENT?

a) Satisfied

52
 b) Not satisfied
c) Not responded
12.do you pay taxes
a) Paying Tax
b) Not Paying Tax

13. WHICH IS THE BEST FORM OF INVESTMENTS?

a) Fixed Asset
b) Bank Deposit
c) Jewellery
d) Securities i.e. bonds, MFs
e) Shares
f) Insurance

14.HOW WOULD YOU RATE INDIAN INSURANCE COMPANIES

a) Rigid plan
b) Unsatisfactory service
c) Non-aggressive
d) Satisfactory
e) Good
f) Very good

15.WHAT PEOPLE LOOK FOR IN AN INSURANCE COMPANY

a) Trusted names
b) A friendly service & good responsiveness
c) Good plans
d) accessibility

16.PEOPLE PLANNING FOR NEW INVESTMENTS

a) Planning
b) Not planning

THANK YOU.

53