“ THE CUSTOMER BEHAVIOUR AND CUSTOMER

SATISFACTION”

SPECIAL REFERENCE TO AVIVA

A Major Project Report

Submitted in partial fulfillment of the requirements for BBA (Banking & Insurance) Semester VI Programme of G.G.S.Indraprastha University, Delhi.

Submitted by:Sachin Teotia

BBA(B&I) Semester VIEnrl. No: 0751241808

Delhi Institute OF Rural Development

Nangli PoonaDelhi - 110036

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DECLARATION

I hereby declare that the major project report, entitled “THE CUSTOMER BEHAVIOUR

AND CUSTOMER SATISFACTION WITH SPECIAL REFERENCE TO AVIVA”, is

based on my original study and has not been submitted earlier for award of any degree or

diploma to any institute or university.

The work of other author(s), wherever used, has been acknowledged at appropriate place(s).

Place: New Delhi Candidate’s Signature

Date: 31st March 2011 Name: Sachin Teotia

Enrol. No. : 0751241808

Countersigned

Name: Name:

Supervisor Director

Delhi Institute of Rural Development Delhi Institute of Rural Development

PREFACE

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Talent & capabilities are of course necessary but opportunities and good

guidance are two very important things without which no persons can

climb those infant ladders towards progress. First of all I am very much

indebted and thankful to my parents and God for giving me strength for

completion of my Internship.

I am really thankful to AVIVA LIFE INSURANCE .

For giving me the permission to carry out my summer internship in their

esteemed organization. I wish to express my deep sense of gratitude to the

management and staff of AVIVA , especially to MR. RAJESH KACHRU

company guide for the support , cooperation , and briefings they provided

during internship to make it a success.

ACKNOWLEDGEMENT

With profound sense of gratitude and regard, I express my sincere thanks to my

guide and mentor Mrs. Manisha for her valuable guidance and the confidence

he instilled in me, that helped me in the successful completion of this project

report. Without her help, this project would have been a distant affair.

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Her thorough understanding of the subject and the professional guidance is

indeed of immense help to me.

SACHIN TEOTIA

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INDEX

S.NO CONTENT

1. Introduction of Project

2. Objectives of Project

3. Company Logo

4. Company’s Profile

4.1 About AVIVA

4.2 History

4.3 Board of Directors

4.4 Management

4.5 Awards Received

4.6 What is AVIVA’S Life Insurance

5. ULIP Plans of AVIVA

5.1 Aviva New Young Scholar

5.2 Aviva New Life Saver Plus

5.3 Aviva New Sachin Century Plan

5.4 Aviva New Safe Guard

5.5 Aviva New Life Line

5.6 Aviva Life Bond Plus

5.7 Aviva New Freedom Life Plan

5.8 Aviva New Pension Plus

5.9 Aviva New Pension Elite

6. Research Methodology

6.1 Research Design

6.2 Steps for research methodlogy

6.3 Data Sources

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6.4 Data Analysis and Interpretation

6.5 Conclusion

6.6 Suggestions and recommendations

7. Annexure

7.1 Questionnaire

7.2 Bibliography

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INTRODUCTION OF PROJECT:-

The project was basically “A survey of customer satisfaction”. The study was

done to the geographical boundaries of DELHI.

PROJECT TITLE:-

“To Study the Customer Behaviour and Customer Satisfaction”

OBJECTIVES OF THE PROJECT:-

To know the feedback of customers regarding the services which are

being provided by the company?

To understand the importance of customer relationship with the

company.

To understand customer satisfaction regarding the products offered

by the company.

To understand the reasons for demand of a particular product.

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COMPANY PROFILE

This is a Project report on the study conducted on the

Unit Linked Insurance plans of AVIVA.

So, first of all we would like to discuss a few things about AVIVA, the company.

This section precisely studies the company, its objectives,

its operations, its achievements and also analyse its income and expenditure in a

precise manner .

ABOUT AVIVA

Aviva is UKs largest and the world’s fifth largest insurance Group. It is one of

the leading providers of life and pensions products to Europe and has substantial

businesses elsewhere around the world. With a history dating back to 1696,

Aviva has a 40 million-customer base worldwide. It has more than 364 billion of

assets under management.

In India, Aviva has a long history dating back to 1834. At the time of

nationalization it was the largest foreign insurer in India in terms of the

compensation paid by the Government of India. Aviva was also the first foreign

insurance company in India to set up its representative office in 1995.

In India, Aviva has a joint venture with Dabur, one of India's oldest, and largest

Group of companies. A professionally managed company, Dabur is the country's

leading producer of traditional healthcare products.

In accordance with the government regulations Aviva holds a 26 per cent stake in

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the joint venture and the Dabur group holds the balance 74 per cent share.

With a strong sales force of over 27,000 Financial Planning Advisers (FPAs),

Aviva has initiated an innovative and differentiated sales approach to the

business. Through the Financial Health Check (FHC) Aviva’s sales force has

been able to establish its credibility in the market. The FHC is a free service

administered by the FPAs for a need-based analysis of the customer’s long-term

savings and insurance needs. Depending on the life stage and earnings of the

customer, the FHC assesses and recommends the right insurance product for

them.

Aviva pioneered the concept of Ban assurance in India, and has leveraged its

global expertise in Ban assurance successfully in India. Currently, Aviva has Ban

assurance tie-ups with ABN Amro Bank, American Express Bank, Canara Bank,

Centurion Bank of Punjab, The Lakshmi Vilas Bank Ltd. and Punjab & Sind

Bank, Co-operative Banks in Gujarat, Rajasthan, DELHI & Kashmir, Bihar,

West Bengal, Andhra Pradesh and Maharashtra and regional Banks.

History

Aviva can trace its heritage back over 300 years.

The group was formed as CGNU in 2000 following the merger of CGU and

Norwich Union. CGU was itself the result of an earlier

merger, between Commercial Union and General Accident in 1998.

Key dates in the company history are as follows:

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1696

The Hand-in-Hand was formed at Tom's coffee house, in London. It is the oldest

of the many companies that have been absorbed into

what is now Aviva.

1797

Norwich Union was founded as a mutual fire insurance society by Thomas

Bignold in Norwich, Norfolk.

1808

A particularly severe winter involving widespread suffering and loss of life

prompted Thomas Bignold to establish the Norwich Union Life Insurance

Society, again on the mutual principle.

1824

Norwich Union's first overseas agency was opened, in Portugal. Eventually the

Norwich Union name spread across mainland Europe to the Middle East, Africa,

India, the Far East, Australia, New Zealand, the United States, Canada and South

America.

1863

Commercial Union continued its overseas expansion and within two years had

agencies in India, South Africa, the Caribbean.

1994

Commercial Union acquired French asset manager Groupe Victoire.

1997

In the year of its bicentenary, Norwich Union demutualised and floated as

2004

Aviva sells its general insurance businesses in Asia, its Your Move estate agency

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and e.surv surveying businesses in the UK. It also acquires HPI Group Holdings

Ltd, the UK’s leading provider of vehicle status checks for used-car purchasers,

and closes UK broker subsidiary Hill House Hammond.

2005

Aviva brings together Norwich Union Insurance and RAC in the UK for about

£1.1 billion. Aviva appoints new chairman. In Ireland, Hibernian enters a

bancassurance joint venture with AIB.

2006

Aviva announces changes to group organisation to create Aviva UK and Aviva

International. Aviva partners with Centurion Bank of Punjab in India and

announces an acquistion and bancassurance deal in Sri Lanka. Aviva receives a

licence in Russia and acquires AmerUs in the US.

2009

Aviva Australia is acquired by National Australia Bank (NAB), one of

Australia’s major banks. Together with Aviva, MLC and NAB Wealth (the

wealth management division of the NAB) will have the largest combined life

insurance book in Australia with market leading individual and group insurance

offers and will be the largest investment platform provider in Australia.

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Board of Directors

Lord Sharman of Redlynch OBE,

Chairman

View Lord Sharman of Redlynch's full biography and recent interviews

born February 1943

Appointed to the board in January 2005 and became chairman in January 2006.

Currently an independent non-executive director of BG Group plc (utility) and

Reed Elsevier plc (publishing). Former chairman of Aegis Group plc (media

services) and KPMG International (auditors), former deputy chairman of Group 4

Securicor plc (security services), former member of the supervisory board of

ABN AMRO NV (banking) and is a former independent non-executive director

of Young & Co’s Brewery plc (drinks) and AEA Technology plc

(commercial/technology).

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Executive directors

Andrew Moss,

chief executive

View Andrew Moss' full biography, recent interviews and presentations

born March 1958

Appointed to the board in May 2004. Joined as group finance director and

became chief executive in July 2007. Previously director – finance, risk

management and operations in Lloyd’s (insurance) and formerly held a number

of senior management positions at HSBC plc (banking).

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Patrick Regan,

chief financial officer

23 Oct 09 - Aviva appoints

Patrick Regan as CFO

born March 1966

Appointed to the board in February 2010 as chief financial officer. Previously

group chief financial officer and group chief operating officer at Willis Group

Holdings Ltd (insurance broking). Previously group financial controller for RSA

plc (insurance) and formerly held a number of senior management positions at

Axa Insurance (insurance) and GE Capital (financial services).

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Awards and Recognition

We believe that our employees are our greatest strength and the only asset that

can be replicated. It is the passion of our people which continues to help us

achieve the 'impossible' and make Aviva India great place to work.

Aviva has been felicitated with the "Bronze Award for Excellence in

People Management" by Grow Talent Company Limited and

Businessworld. This honour was given based on our ranking amonst the

top 25 companies as per the Grate Place to Work survery in the last four

years.

Aviva was ranked 4th in the Best Workplaces in India study for the year

2008 by the Great Place to Work Institute. We were the only Insurance

company in the top 10 ranking that year.

Aviva India won the coveted Award for Talent Management during the

national round of Asia Pacific HRM Congress

Aviva India was also felicitated by the HR Excellence Award by Amity

Business School

“WHAT IS AVIVA LIFE INSURANCE?”….

Life Insurance policies can be paid in a lump sum or in several installments; the

amount of money you pay to your insurance company is called a premium.

When you buy a Life Insurance policy you provide a measure of financial

security to your beneficiaries (family, loved ones) so that upon death they will be

able to meet financial responsibilities previously covered by your income.

We recommend you to speak to a Licensed Life Insurance agent in your state by

doing a search in our site, so that you can determine how much protection you

need and can afford, as well as what type of Life Insurance policy to choose.

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These are the most common Life Insurance types:

Term Life Insurance

Permanent / Whole Life Insurance

There are other variations of Life Insurance policies, such as, Universal Life,

Excess Interest Whole Life, Variable Life, Limited-Payment Whole Life and

Single-Premium Whole Life.

We recommend you to speak to a local licensed insurance agent so that you can

learn more about Life Insurance. Please feel free to contact the licensed agents

listed on our site for more.

AVIVA Life Insurance Overview:-

Life insurance is something that not everybody is comfortable talking about, or

even thinking about. When we are young and healthy, we feel immortal. The

unexpected death of a loved one or us is the furthest thing from our minds.

However, the fact of the matter is it is never too early to start thinking about your

family’s protection in the event of tragedy. All life insurance professionals agree

that the sooner you start thinking about life insurance the more options and the

more affordable life insurance can be. There are many logical answers to the

question “Why Buy Life Insurance?...

What to Look For

It’s easy to get a free quote on affordable life insurance for your family. However

a low monthly premium should not be your only consideration when shopping for

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a life insurance policy. You need to carefully consider what is best for your

family. People often do not realize just how much money is needed to support a

family given the tragic loss of a primary income provider. Besides the monthly

expenses such as rent and mortgage that your spouse may now be left with, have

you considered the cost of a funeral, health benefits which may not be continued

in the event of death of a working spouse, the additional childcare expenses that

may now be required of a single parent? The list goes on and on. In this

discussion of life insurance basics we will help you make an informed and

educated decision on the type and amount of life insurance that is best for your

needs and your budget.

TYPES OF AVIVA LIFE INSURANCE

What is AVIVA Life Insurance? Life insurance at its most basic level is a

contract between you and a life insurance company to pay a sum of money to

your beneficiaries in the event of your death, to cover expenses and make up for

the lack of your income. Life Insurance premiums are based on the type of

insurance you buy, the benefit amount, and your chances of dying based on your

over all health and lifestyle, during the period when the policy is in effect.

There are basically two types of life insurance. You may have heard of them -

Term Life Insurance and Permanent Life insurance. In this discussion we will

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review in broad terms the difference between the two. You can find more details

on Term Life Insurance and the various types of Permanent Life Insurance at any

time by accessing these links.

Term Life Insurance – As the name implies, Term Life insurance is life

insurance that you purchase for a specific length of time, usually 5, 10 or

20 years. At the end of the term you are given the option of renewing the

policy. Term Life insurance is strictly that, only life insurance that pays a

death benefit, as opposed to Permanent Life insurance policies that accrue

cash value. Term Life pays a lump sum single benefit at the time of death.

Your family can use that money to cover funeral expenses, immediate

bills, and invest in annuities to make up for the loss of salary to pay on-

going monthly expenses. Term Life insurance is the easiest and most

affordable life insurance to obtain. Term Life insurance is great for young

families just starting out.

Permanent Life Insurance – Unlike Term Life insurance, there is no fixed

time limit to Permanent Life insurance, so long as you keep making your

monthly premium payments the contract between you and the life

insurance company remains in effect. The other key difference between

permanent and term life insurance is that a Permanent Life insurance

policy gains “cash value” Part of your monthly premium goes into a tax-

deferred investment account that you do have access to while you are alive.

There are various types of Permanent Life insurance such as Whole Life,

Universal Life and Variable-Universal Life.

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How Much Do I Need?

That is a very good question, especially since the answer will change over time

depending on your age and life circumstances. You may feel you may not even

need life insurance at all if you are young and single, but with the average cost of

a funeral being $10,000.00 or more, you have reason to consider it. Once you

have people that depend on your income such as a spouse and children, life

insurance is an absolute necessity. Even then your needs will change as your

standard of living changes and your family grows. A young family with an infant

and a small rental apartment will obviously require less life insurance then a

family with a house, a mortgage, and two kids in college. Feel free to use our

benefits calculator to help determine the right amount for your circumstances.

No matter what stage of life you are in here are some basic guidelines and

considerations to determine the amount of life insurance you will need.

Be sure to consider the cost of a funeral. Even if your final wishes do not

include a traditional burial, the cost needs to be factored into your death

benefit. It is advisable to find out a good approximate cost of whatever

final arrangements you chose. Also when considering “final costs” that

may be incurred by your beneficiaries be sure to consider all federal and

state taxes that may be due immediately upon your death. These usually

amount to 10% of the total value of your Estate.

The next thing to consider is the effect of your loss of income on your

family. You need to project how long you think your family will need to

“make up” for your lost income. Will your spouse work? Remarry in a

short amount of time? You need to discuss such matters. Consider all of

your debt and your monthly expenses determine the amount of money that

your family needs yearly to make up for your lost income, and multiply

that by the amount of years you think they will need it and you will have

arrived at your minimum required amount of Life Insurance. So if you

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think they will need $50,000.00 a year for 10 years, you will need at least a

$ 500,000.00 policy.

Finally consider the amount of debt that you family will be faced with

upon your death, you may want them to have enough to pay that off in a

lump sum, rather then making that part of their monthly expenses

determined in (2) above.

Once you have done your best to determine your needs, it is advisable to discuss

benefit amounts with one of our qualified life insurance agents, who will help

ensure you get the right amount of coverage that is best for you.

Unit Linked Insurance plans

Unit linked Insurance plans (ULIP) is life insurance solution that provides for

the benefits of protection and flexibility in investment. The investment is

denoted as units and is represented by the value that it has

attained called as Net Asset Value (NAV). The policy value

at any time varies according to the value of the underlying

assets at the time. ULIP provides multiple benefits to the

consumer.

The benefits include:

Life protection

Investment Options

Transparency

Adjustable Life Cover

Flexibility

Liquidity

Tax planning

Investment and Savings

Options to take additional cover against- Death due to accident,

Disability, Critical Illness, Surgeries etc.

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In a ULIP, the insurer deducts charges towards life insurance (mortality charges),

administration charges and fund management charges. The rest of the premium is

used to invest in a fund that invests money in stocks or bonds. The policyholder’s

share in the fund is represented by the number of units. The value of the unit is

determined by the total value of all the investments made by the fund divided by

the number of units. If the insurance company offers a range of funds, the insured

can direct the company to invest in the fund of his choice. Insurers usually offer

four choices:

Bond fund, Secured Fund, Balanced Fund, Growth Fund

So, in ULIPS is that the investor knows exactly what is happening to his money

and two, it allows the investor to choose the assets into which he wants his funds

invested.

Unit plans are investment plans for those who realise the worth of hard-earned

money. These plans help you see your savings yield rich benefits and help you

save tax even if you don't have consistent income.

Unit-linked insurance plans, ULIPs, are distinct from the more familiar ‘with

profits’ policies sold for decades by the Life Insurance Corporation. ‘With

profits’ policies are called so because investment gains (profits) are distributed

to policyholders in the form of a bonus announced every year.

ULIPs also serve the same function of providing insurance protection against

death and provision of long-term savings, but they are structured differently. In

‘with profits’ policies, the insurance company credits the premium to a common

pool called the ‘life fund’, after setting aside funds for the risk premium on life

insurance management expenses.

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Every year, the insurer calculates how much has to be paid to settle death and

maturity claims. The surplus in the life fund left after meeting these liabilities is

credited to policyholders’ accounts in the form of a bonus.

In a ULIP too, the insurer deducts charges towards life insurance (mortality

charges), administration charges and fund management charges. The rest of the

premium is used to invest in a fund that invests money in stocks or bonds. The

policyholder’s share in the fund is represented by the number of units.

The value of the unit is determined by the total value of all the investments made

by the fund divided by the number of units. If the insurance company offers a

range of funds, the insured can direct the company to invest in the fund of his

choice.

Insurers usually offer three choices- an equity (growth) fund, balanced fund and a

fund which invests in bonds. In both ‘with profits’ policies as well as unit-linked

policies, a large part of the first year premium goes towards paying the agents’

commissions.

Why do insurers prefer ULIPs?

Insurers love ULIPs for several reasons. Most important of all, insurers can sell

these policies with less capital of their own than what would be required

if they sold traditional policies.

In traditional ‘with profits’ policies, the insurance company bears the investment

risk to the extent of the assured amount. In ULIPs, the policyholder bears

most of the investment risk.

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Since ULIPs are devised to mobilise savings, they give insurance companies an

opportunity to get a large chunk of the asset management business, which has

been traditionally dominated by mutual funds.

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Aviva New Unit Linked Product Portfolio

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“RESEARCH METHODOL

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RESEARCH METHODOLOGY;-

Research is a careful investigation or enquiry especially a search for new facts in

any branch of knowledge and a systematized effort to gain new knowledge.

Marketing research is the systematic and objective identification, collection,

analysis dissemination and use of information for the purpose of improving

decision making related to the identification and solution of problems and

opportunities in marketing. We define or identify the marketing research problem

or opportunity and then determine what information is needed to investigate it.

The research was conducted for improving the walk-in and knowing customer

awareness towards AVIVA LIFE INSURANCE CO. services and customer

satisfaction.

RESEARCH TYPE ;-

1. A TYPE OF ACADEMIC RESEARCH

This project has been done mainly for the fulfillment of academic requirements.

RESEARCH DESIGN

A research design is the arrangement of conditions for collection and analysis of

data in a manner that aims to combine relevance to the research purpose with

economy in procedure. Research designs are of following types;

DESCRIPTIVE

DIAGNOSTIC

EXPERIMENTAL

CAUSAL

EXPLORATORY

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In this project, exploratory type of research design has been used.

RESEARCH TYPE -: EXPLORATORY RESEARCH.

This method is undertaken when researcher is interested in knowledge about

characteristics of certain group. As in this particular case I wanted information

regarding a particular group i.e. customer. Hence I selected “Exploratory

research” as the type of research.

RESEARCH DURATION:-

The research was conducted over duration of 4 weeks.

DATA COLLECTION:-

For this project work I collected data from both the Secondary and Primary data

sources.

SECONDARY DATA SOURCE :-

Data is mainly collected mainly from company web-sites and other related

websites, Newspapers, Journals, magazines etc.

PRIMARY DATA SOURCE :-

The survey done to collect the data from the customers is mainly by

questionnaires, observations and interviews were the major sources of

primary data.

Reason for selecting primary data :-

In terms of primary data structure questionnaire was prepared to interview the

professional, unemployed students, housewives, investment consultant, post

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office agent and other in Mumbai location. Analysis clearly reflected the views

and preference regarding the perception of the people towards joining HDFC

standard life.

There are two types of mode to collect the data:-

Observation method.

Survey method.

As for as the data collection method for this project is concerned, designing

the data collection forms or survey forms is applicable to the project. The

method selected survey method.

A survey can be conducted by:-

Personal interview.

Telephonic interview.

SAMPLING ;-

Sampling is one of the most fundamental concepts underlying any research work.

Most research studies attempt to make generalization or draw inferences

regarding the population, based on their study of a part of the population that is

the sample.

METHOD OF SAMPLING ;-

Sampling is one of the most fundamental concepts underlying any research work.

The sampling method used for project was simple Random and purposive

sampling. The sample size is selected randomly with a purpose to cover

maximum possible customer.

SAMPLE SIZE :-

The sample size taken for analysis was 200 customers.

Sometimes customers were not cooperative in providing personal or secretive

data, figures or information. But an effort has been made to collect data as much

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correct as possible to make the study more effective and I have tried to compile

each and every detail to the study to make it more meaningful.

STEPS FOR RESEARCH METHODOLOGY…

Research methodology has following steps:

Step: 1 To decide the objective of the study.

Step: 2 To frame the research design.

Step: 3 To determine the source of data.

Step: 4 To design data collection form.

Step: 5 To determine sample size and sample design.

Step: 6 To organize and conduct fieldwork.

Step: 7 To process and analyze the collected data.

Step: 8 To prepare the research report.

.

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OBJECTIVES

OBJECTIVES OF THE STUDY:-

1. To study the customer behavior and customer satisfaction level of the

concern.

2. To determine the level of customer satisfaction, their requirements,

expectations and interest towards various company policies.

3. To study the extent of customer awareness regarding the available policies

and the services that the company are marketing presently.

4. To conduct an analysis of the services provided by the company and

customers perception, knowledge, satisfaction towards the services

provided by the concern.

5. To review the various policies available in the concern.

6. To examine whether the promotional activities conducted by the concern

are effective or not.

7. To know the new Policies and strategies adopted by the concern.

8. To suggest some Pragmatic steps in order to make improvements in the

concern.

9. To find out the various policies/services been used by customers

in DELHI and udhampur region.

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LIMITATIONS

i) Sample size is small and may not be representative of the universe of

study i.e. DELHI and Udhampur city.

ii) Some times no exact data is found as customers doesn’t

provide exact information.

iii) Efforts for the marketing of company products are less and

hence there is less awareness and usage of most of the

“AVIVA” policies.

iv) Some question carry multiple response and percentage have not been

computed for them.

v) The analysis is based entirely on responses of individuals and may vary

with future changing trends.

vi) Time constraint.

vii) As the data is collected in the month of dec to feb, the result could not

be considered consistent for the whole year.

viii) I faced problem of avoidance towards giving information. The

customer thinks it to be Useless and wastage of time.

In spite of the above limitations an effort has been made to make the analysis

possible and reliable after cross examination of the data supplied by the concern

branch of the company.

Data Analysis and Interpretation…

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1) PERCEPTION ABOUT AVIVA ULIP’S ;-

1.Heading: perception of respondent about AVIVA ULIP’S Plans

2.Tabulated Presentation:

Excellent Very

Good

Good Poor

NO. of

respondents

37 63 86 14

3. Diagrammatic representation:

19%

32%42%

7%

Perception about the AVIVA ULIP'S Plans

EXCELLENT

VERY GOOD

GOOD

POOR

4.Interpretation:

Perception of most of the respondents i.e., 42% is good, 32% is very good,

19% excellent and only 7% have a poor perception about AVIVA ULIP.

2) INFORMATION OF AVIVA’S ULIP PLANS :-

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1. Heading: Respondent get information of AVIVA ULIP’S Plans from which

sources.

2. Tabulated Presentation:

3. Digrammatic representation :-

33%

29%

21%

17%

Information of AVIVA'S ULIP Plans

FRIENDS

AGENTS

FAMILY FRIENDS

OTHERS

4. Interpretation:

33% the respondents came to know about AVIVA ULIP’s Plans from friends,

29% from various Agents, 21% from family members and 17% from other

sources.

3) INFORMATION OF AVIVA’S ULIP SERVICES TO CUSTOMERS:-

1. Heading: AVIVA ULIP’s service to its customers .

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Friends Family

members

Agents others

NO. of

respondents

68 42 57 33

2. Tabulation of information:

Excellent Very good Good Poor

NO. of

respondents

33 79 65 23

3. Diagrammatic representation:

17%

39%32%

12%

AVIVA ULIP'S Services to its Customers

EXCELLENT

VERY GOOD

GOOD

POOR

4. Interpretation: Majority of the customers are satisfied with the service of

the company. 39% say the service is very good, 32% say its good, 17% say its

excellent and only 12 are not satisfied.

4) AVIVA ULIP’S PLANS BENEFITS SCHEMES TO ITS CUSTOMERS:-

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1. Heading: Whether AVIVA ULIP gives beneficial schemes to its existing

customers .

2. Tabulation of information:

Yes No Can’t say

NO. of

respondents

134 48 18

3. Diagrammatic representation:

67%

24%

9%

Beneficial schemes to its customers

YES

NO

CAN'T SAY

4. Interpretation: Majority of the customers are satisfied with the beneficial

schemes the company. 67% say that AVIVA ULIP is giving beneficial schemes

to its customers, 24% they are not getting any such schemes and 9% cant sat

about these things.

5) AVIVA ULIP’S CHARGES AND FEES:-

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1. Heading: Resonablity of maintenance charges & fees.

2. Tabulation of information:

Yes No

NO. of

respondents

167 33

3. Diagrammatic representation:

Resonablity of maintenance charges & fees

83%

17%

Yes

No

4. Interpretation: 83% of respondents say that the charges are reasonable and

only 17% are not happy with the service charges.

6) PAYMENT FOR PAYING ULIP PREMIUM:-

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1. Heading: Mode of payment for paying premium 

2. Tabulation of information:

Draft Cheque Cash

NO. of

respondents

13 187 0

3. Diagrammatic representation:

Mode of payment for paying premium

7%

93%

0%

Draft

Cheque

Cash

4. Interpretation: 93% of respondents prefer to pay by cheque, 7% by draft and

non of the respondents prefer cash for paying premium.

7) AVIVA ULIP’S SATISFACTION SERVICES TO CUSTOMERS:-

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1. Heading: Satisfaction with the service of AVIVA ULIP .

2. Tabulation of information:

Yes No

NO. of

respondents

174 26

3. Diagrammatic representation:

87%

13%

Satisfaction Services of AVIVA ULIP'S Plans

YES NO

4. Interpretation:

87% of respondents say that they are satisfied with the company’s service and

only 13% are not happy with the service.

8) PRODUCT’S SURRENDER VALUE:-

1. Heading: Satisfaction with the product’s surrender value.

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2. Tabulation of information:-

Yes No

NO. of

respondents

153 47

3. Diagrammatic representation:

Satisfaction with the product’s surrender value

76%

24%

Yes

No

4. Interpretation:

76% of respondents say that they are satisfied with the product’s surrender

value and only 24% are not happy.

CONCLUSION

Working with AVIVA Life Insurance for two months was a very nice and a good

learning experience. It has helped me a lot learning about different kinds of

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investments and the pros-corns of its. It has also helped me to know about how

works in a corporate world is done.

Though we had a very nice experience but we had to face some

problems even, like we were not given any identity card by the company so

sometime it became very difficult for us to convince people that we are from the

company and not an agent. Mostly small investors are not satisfied with the

charges of the AVIVA ULIP.

1. Customers are much more relying upon AVIVAULIP’S Plans.

2. People don‘t rely upon private insurance sector.

3. All products are not attractive to the customers so that kind of products are

very hard to sale.

4. Less number of traditional plans that’s why people who really need

traditional plans are still not satisfied.

5. Majority of the customers are satisfied with the beneficial schemes the

company.

6. Majority of the customers are satisfied with the service of the company.

Suggestions and Recommendations ;-

Following are a few suggestions;

like the company should carry out market research on a regular basis. This will

facilitate indication of customer groups, analysis of the customer needs and

requirements. It will be helped in engendering valuable feed back to the

officers to assess the level of customer satisfaction, which in turn could be used

in upgrading the service levels;

It is recommended to the concern that it should try to differentiate their

policies and establish exclusive brand names for them.

Company should use more modern information devices to inform the

customer about its products and policies.

Company should use the E- banking concept, to compete in modern banking

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environment with the private banks.

It is suggested to increase its branches at different areas to provide

convenience for customers.

It is suggested that concern should also provide regular training to their

employees. Proper training will keep the employees knowledge up to-date and

they will be able to serve customer in a better way. It will help them in

promoting the company Good will among the customer;

And In the end, the concern is suggested to concentrate more on building

relationship; their efforts should be directed towards ultimate customer

satisfaction.

ANNEXURE

Questionnaire

1) What do you think about AVIVA ULIP’s Plans?

A)Excellent

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B)Very Good

C)Good

D)Poor

2) From where did you got information of AVIVA ULIP’s Plans ?

A)Friends

B)Family members

C)Advetisements

D)Others

3) Whether AVIVA giving eficient service to its customers ?

A)Excellent

B)Very Good

C)Good

D)Poor

4) Whether AVIVA ULIP Plans gives beneficial schemes to its existing

customers ?

A)Yes

B)No

C)Cant say

5) Is the maintenance charges & fees are reasonable?

A)Yes

B)No

6) Which mode of payment do you prefer to pay your premium ?

A)Draft

B)Cheque

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C)Cash

7) Are you satisfied with the service of AVIVA ULIP’S Plans ?

A)Yes

B)No

8) Are you satisfied with the product’s surrender value ?

A)Yes

B)No

9) Whether AVIVA offering additional online facilities ?

A)Yes

B)No

10) Whether AVIVA ULIP Plans offering effective promotional schemes ?

A)Yes

B)No

11) Any furher suggession to serve you better ?

_________________________________________________________________

_________________________________________________________________

_________________________________________________________________

_____________________________

BIBLIOGRAPHY

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Philip Kotler “Marketing Management”

C.N Sontakki “Marketing Management”

S.A Sherleker “Marketing Management”

Company Magzine

Bank Quest

Newspapers

WEBSITES :-

WWW.GOOGLE.COM

WWW.BANKERSINDIA.COM

WWW.AVIVA.COM

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