Insurance may be described as a social device to reduce or eliminate risk of loss to life and property. Insurance is a collective bearing of risk. Insurance is a financial device to spread the risks and losses of few people among a large number of people, as people prefer small fixed liability instead of big uncertain and changing liability. Insurance can be defined as a "legal contract between two parties whereby one party called insurer undertakes to pay a fixed amount of money on the happening of a particular event, which may be certain or uncertain." The other party called insured pays in exchange a fixed sum known as premium. Insurance is desired to safeguard oneself and one's family against possible losses on account of risks and perils. It provides financial compensation for the losses suffered due to the happening of any unforeseen events.
Insurance constitutes one of the major segments of the financial market. Insurance services play predominant role in the process of financial intermediary. Today insurance industry is one of the most growing sectors in India. There is lot of potential in the Indian Insurance Industry. There are many issues, which require study. The scope of the study of insurance industry of India would be very great as there are ongoing developments in the industry after the opening of the sector.
[...] Reliance Life Insurance Company Limited is newly launched company. So it has fewer customers as compared to LIC. But the ULIP plans are sold more of Reliance life insurance as compared to LIC in today's environment. Now let's see what people say: Particulars No. Reliance Life 15 Insurance LIC 35 TOTAL 50 As evident from the chart that 30% of people would prefer Reliance Life Insurance while 70% would prefer LIC. Personal Details:- Age 18 to 30 31 to 50 51 to 65 Age No. [...]
[...] The process of selection of Sales Manager will be conducted by the Branch Manager, which includes- Personal Interview:- The first step of selection of Sales Manager in the Reliance Life Insurance Company Limited is to conduct a personal interview of an applicant by the Branch Manager. Project 40 Interview:- After clearing the personal interview, the project 40 interview will be taken by the Branch Manager. In this step, the applicant should have to make a list of 40 and then start the business with them. [...]
[...] In life insurance, there is an assurance from the insurance company to make payment under the policy either on the maturity or at earlier death. On the other hand the word insurance was used to denote indemnity type of insurances where the insurance company was liable to pay only in case of the loss damage the property. The insured event was bound to happen sooner or later under assurance but the event insured against may or may not happen under insurance. [...]
[...] 11) SAP ERP Modules:- SAP (Finance and HR Modules), will automate the Expense, Travel and Leave Management Systems MISSION The mission of Reliance Life Insurance Company Limited is to be the best in every sphere- business results, customer care and employee focus. The aim of the company is to Think Bigger and Think Better CORE VALUES Reliance Life Insurance Company Limited has some core values which are listed as follows: Result Oriented Performance Driven Customer Focused Learning and Development Oriented Employee Centric Informal and Fun 2.7 FUTURE PLANS Forty-four new branches to be opened across the country in the coming months; and a pan India presence with 162 branches in the coming year. [...]
[...] To get some information about the market share of Reliance Life Insurance as compared to the giants like LIC and to know the standing of the company in the market. QUESTIONNAIRE It is most common instrument whether administered in person by phone or online questionnaires are very flexible. The form of each question is also important. Closed end question include all the possible answers and subjects matters choices among them. I have used open-end questions so that customers can write answer in their own words. [...]
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