A SUMMER TRAINING REPORT

ON
MARKETING STRATEGIES OF METLIFE
INDIA INSURANCE CO. PVT. LTD.

Submitted to the partial fulfillment of the requirements

For the award of Degree of
Bachelor of Business Administration

Pt. Neki Ram Sharma Govt College

MAHARISHI DAYANAND UNIVERSITY
ROHTAK

(Session 2023-24)

Submitted to Submitted by :
Dr. Chetna Nisha
BBA Deptt. BBA 3rd Year
Roll No. : 1211271010013
Univ. Roll No. :
 ACKNOWLEDGEMENT

I deem it my proud privilege to express my indebtedness and sincere thanks to all those
who have, in various ways, helped me in the successful completion of the Summer
Training Report and without their invaluable help this Summer Training Report would
not have been a reality.
I am also thankful to my friends for their great support during my Summer Training
Report .
Finally I express my most sincere gratitude to my parents and my family members for
supporting and encouraging me to this challenging Summer Training Report . I deeply
acknowledge the support and inspiration provided by my academic career.

Nisha
 DECLARATION

I, Nisha, student of BBA hereby declare that the Summer Training Report entitled

“Marketing Strategies ” is an original work and the same has not been submitted to any

other Institute for award of any degree. The Summer Training Report was presented to

the supervisor of the Summer Training Report . The feasible suggestions have been duly

incorporated in consultation with the supervisor of the Summer Training Report .

Nisha
 TABLE OF CONTENTS

 ACKNOWLEDEMENT
 DECLARATION
 PREFACE

Sr.No PARTICULARS Page no.

1. CHAPTER 1

 INTRODUCTION TO THE TOPIC

 COMPANY PROFILE
 OBJECTIVES OF THE STUDY

2. CHAPTER 2

 REVIEW OF LITERATURE

3.
CHAPTER -3

 RESEARCH METHODOLOGY

3. CHAPTER 4

 DATA ANALYSIS AND INTERPRETATION

4. CHAPTER 5

 FINDING
 CONCLUSION
 SUGGESTION
 LIMITATION

ANNEXURE

 BIBLIOGRAPHY
 QUESTIONAIRE
 PREFACE
Progress is a continuous process. It is relative and absolute. We
can’t stop a certain destination and declare that target has been
achieved and we need not go further.

The summer training program is designed to give the future

managers feel of the corporate happenings and work culture.
These real life situations are entirely different from the stimulated
exercise enacted in an artificial environment inside the classroom
and it is precisely because of this reason that this summer training
program is designed, so that the manager of tomorrow not feel ill
in the case when the time comes to shoulder responsibilities. The
summer training is a bridge between the institution and
organization. Summer training program made us to understand
how theoretical knowledge will be applied in the practical field.

It was exactly in this context that I was privileged to join Met Life
Insurance (No one US Insurance Company) on the 1 nd of May
2006, as a summer trainee.. Met Life Insurance is known not only
for its professional management, but also for its enlightened and
progressive approach towards employee welfare and betterment of
the society.

The experience that I have gathered over the past two months has
certainly provided me with an orientation, which, I believe, will
help me shoulder any assignment successfully in future. During
this period the report which I made was done after a deep,
comprehensive and full-fledged study and is based on my original
research and investigation.
 CHAPTER-1

INTRODUCTION
 INTRODUCTION

The origins of Metropolitan Life Insurance Company (MetLife) go back to

1863, when a group of New York City businessmen raised $100,000 to
found the National Union Life and Limb Insurance Company

.The new company insured Civil War sailors and soldiers against disabilities
due to wartime wounds, accidents, and sickness. In 1868, after several
reorganizations and five difficult years, the company decided to focus on the
life insurance business. A new company was chartered to sell "ordinary"
insurance to the middle class. The founders chose the name because they had
been most successful in New York City, or the "Metropolitan" District.

This new venture also faced difficulties. A severe business depression that
began in the early 1870s rapidly put half of the 70 life insurance companies
operating in New York State out of business. Only very large, long-
established ordinary life insurance companies remained strong. Policy lapses
over successive years forced the company to contract until it reached its
lowest point in the late 1870s.

In 1879, MetLife President Joseph F. Knapp turned his attention to England,

where "industrial" orworkingmen's" insurance programs were widely
successful. American companies had not bothered to pursue industrial
insurance up to that time because of the expense involved in building and
sustaining an agency force to sell policies door to door and to make the

weekly collection of five- or ten-cent premiums

By importing English agents to train an American agency force, MetLife

quickly transferred successful British methods for use in the United States.
By 1880, the company was signing up 700 new industrial policies a day.
Rapidly increasing volume quickly drove down distribution costs, and the
new program proved immediately successful.

The MetLife agent became an important person in the lives of these striving
families. Manuals instructed agents to call at a home at the same time each
week to ensure familiarity and contact. In the process of collecting
premiums, insurance agents listened to the problems, concerns, and hopes of
their clients. So successful was this approach that by 1909, MetLife became
the nation's largest life insurer in terms of insurance in force, a leadership
position we continue to hold today in North America

TYPES OF POLICIES

1. Endowment Policies

2. Group Insurance

3. Joint Life Insurance Policies

4. Loan Cover Term Assurance Policies

5. Money back Policies

6. Pension Plan

7. Term Life insurance Policies

8. Unit linked Insurance Plan ( ULIP )

9. Whole Life insurance Policies

 1. Endowment Policies

An endowment policy covers risk for a specified period, at the end of which
the sum assured is paid back to the policyholder, along with the bonus
accumulated during the term of the policy.

An endowment life insurance policy is designed primarily to provide a living

benefit and only secondarily to provide life insurance protection. Therefore,
it is more of an investment than a whole life policy.

Endowment life insurance pays the face value of the policy either at the
insured's death or at a certain age or after a number of years of premium
payment. Endowment policy is an instrument of accumulating capital for a
specific purpose and protecting this savings program against the saver's
premature death.

2. Group Insurance

Group insurance offers life insurance protection under group policies to

various groups such as employers-employees, professionals, co-operatives,
weaker sections of society, etc. It also provides insurance coverage for
people in certain approved occupations at the lowest possible premium cost.

Group insurance plans have low premiums. Such plans are particularly
beneficial to those for whom other regular policies are a costlier proposition.
Group insurance plans extend cover to large segments of the population
including those who cannot afford individual insurance.

A number of group insurance schemes have been designed for various

groups. These include employer-employee groups, associations of
professionals (such as doctors, lawyers, chartered accountants etc.),
members of cooperative banks, welfare funds, credit societies and weaker
sections of society.
 3. Joint Life Insurance Policies

Joint life insurance policies are similar to endowment policies as they too
offer maturity benefits to the policyholders, apart form covering risks like all
life insurance policies.

But joint life policies are categorized separately as they cover two lives
simultaneously, thus offering a unique advantage in some cases, notably, for
a married couple or for partners in a business firm.

Under a joint life policy the sum assured is payable on the first death and
again on the death of the survivor during the term of the policy. Vested
bonuses would also be paid besides the sum assured after the death of the
survivor. If one or both the lives survive to the maturity date, the sum
assured as well as the vested bonuses are payable on the maturity date. The
premiums payable cease on the first death or on the expiry of the selected
term, whichever is earlier.

4. Loan Coverage Term Assurance

Loan cover term assurance policy is an insurance policy, which covers a

home loan. Such a policy covers the individual's home loan amount in case
of an eventuality. The cover on such a policy keeps reducing with the
passage of time as individuals keep paying their EMIs (equated monthly
instalments) regularly, which reduces the loan amount.

This plan provides a lumpsum in case of death of the life assured during the
term of the plan. The lump sum will be a decreasing percentage of the initial
sum assured as per the policy schedule. Since this is a non-participating
(without profits) pure risk cover plan, no benefits are payable on survival to
the end of the term of the policy.
Various insurance companies offering loan repayment protection insurance
policy are

 HDFC Standard Life Insurance

 Tata AIG
 ING Vysya
 LIC
 MetLife

5. Money Back Policies

Money back policy provides for periodic payments of partial survival

benefits during the term of the policy, as long as the policyholder is alive.
They differ from endowment policy in the sense that in endowment policy
survival benefits are payable only at the end of the endowment period.

An important feature of money back policies is that in the event of death at

any time within the policy term, the death claim comprises full sum assured
without deducting any of the survival benefit amounts, which may have
already been paid as money-back components. The bonus is also calculated
on the full sum assured.

6. Pension Plan

A pension plan or an annuity is an investment that is made either in a single

lump sum payment or through installments paid over a certain number of
years, in return for a specific sum that is received every year, every half-year
or every month, either for life or for a fixed number of years.

Annuities differ from all the other forms of life insurance in that an annuity
does not provide any life insurance cover but, instead, offers a guaranteed
income either for life or a certain period.

Typically annuities are bought to generate income during one's retired life,
which is why they are also called pension plans. By buying an annuity or a
pension plan the annuitant receives guaranteed income throughout his life.
He also receives lump sum benefits for the annuitant's estate in addition to
the payments during the annuitant's lifetime.

7. Term Life Insurance Policies

Term life insurance policy covers risk only during the selected term period.
If the policyholder survives the term, the risk cover comes to an end. Term
life policies are primarily designed to meet the needs of those people who
are initially unable to pay the larger premium required for a whole life or an
endowment assurance policy.

No surrender, loan or paid-up values are granted under term life policies
because reserves are not accumulated. If the premium is not paid within the
grace period, the policy lapses without acquiring any paid-up value.

8. Unit Linked Insurance Plan

Unit linked insurance plan (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 and Savings
  Flexibility
 Adjustable Life Cover
 Investment Options
 Transparency
 Options to take additional cover against
 Death due to accident
 Disability
 Critical Illness
 Surgeries
 Liquidity
 Tax planning

9. Whole Life Insurance Policies

A whole life policy runs as long as the policyholder is alive. As risk is

covered for the entire life of the policyholder, therefore, such policies are
known as whole life policies. A simple whole life policy requires the insurer
to pay regular premiums throughout the life. In a whole life policy, the
insured amount and the bonus is payable only to the nominee of the
beneficiary upon the death of the policyholder. There is no survival benefit
as the policyholder is not entitled to any money during his / her own
lifetime.

PRODUCT RANGE
No one can give you all the answers when it comes to dealing with life's ups
and downs. But we can certainly equip you to deal with life better. Please
find below the various products offered by MetLife to suit your specific
need:

 Accumulation

 Whole Life Policy

 Met 100- Limited Pay Whole life Non - Participating
 Met 100- Limited Pay Whole life Participating
  Endowment Policy
 MET Suvidha

 Money Back Policy

 Met Sukh Money Back Non Participating
 Met Bhavishya

 Multi Purpose
 Met Ultimate
 Met Smart Plus
 Met Smart Premier
 Met Smart Plus - Single Pay
 Met Smart Premier - Single Pay

 Protection
 Met Suraksha - TROP
 Met Suraksha - TA
 Met-Mortgage Protector SP/Limited pay(MRTA)

 Retirement
 MET Pension - Participating Deferred Annuity
 MET Advantage Plus

 Add Ons
 Accidental Death Benefit (ADB)
 Term Rider
 Waiver Of Premium
 Critical Illness
PRODUCT ANALYSIS

Accumulation
Worldwide, accumulation products help our customers invest wisely and
enjoy benefits during those important phases of life – be it their children’s
education, marriage or buying a house. In addition to providing risk
coverage. MetLife's accumulation products are ideal for those who like to
avail of life cover as well as investment benefits.

The following policies are available under the accumulation plans:

 Whole Life Policy

 Endowment Policy
 Money Back Policy

Multi Purpose

Met Ultimate
Your needs in life keep changing with time. There is no reason to keep
buying new insurance products to keep pace with your changing
responsibilities. Now all you need is the convenience of Met Ultimate , the
participating Universal Life Insurance Plan.

Met Ultimate is an insurance plan that keeps evolving to suit every stage of
your life. It is a plan that covers you till age 100, with an investment plan
linked to guaranteed as well as market interest rates.

Met Smart Plus & Met Smart Premier

Unit-Linked Life Insurance Plans (Non-Par)

You want to protect your family from life’s uncertainties; at the same time,
you wish insurance would yield higher returns on your investments. You
want your insurance policy to help realize all your dreams. Met Smart Plus
& Met Smart Premier is our answer for your quest.

Met Smart Plus & Met Smart Premier are transparent, Unit Linked whole
life plans that mature at the age 100. The premium you pay is used partly
forinsurance cover and the balance is invested in funds to buy units.

Met Smart Plus - Single Pay &

Met Smart Premier - Single Pay
Unit-Linked Life Insurance Plans (Non-Par)

At times, you feel the need for a plan that offers you more that just
protection. A plan that makes your money work that extra bit for you. And
offers you an excellent balance between wealth creation and protection.

Presenting Met Smart Plus Single Pay and Met Smart Premier Single Pay.
All it needs is a single payment in return for a lifetime of your family’s
protection.

Protection
Protection plans, as the name implies, protects your loved ones against
liabilities that might be left out, should something unfortunate happen to
you. For instance, if you have a home loan pending, Protection Plans pay off
the balance amounts on your demise and lets them enjoy the asset.

MetLife has a comprehensive plan that allows you to provide that all-
important shelter for your family against life’s uncertainties.

MET Suraksha - TROP

The most important things in life are inexpensive. If you think precious life
cover costs the earth, think again. Met Suraksha, a non participating term
assurance plan, offers cover for a large sum assured at rates that are very
economical. Met Suraksha is an invaluable protection at a not-so-valuable
cost.

MET Suraksha - TA

The most important things in life are inexpensive. If you think precious life
cover costs the earth, think again. Met Suraksha, a non participating term
assurance plan, offers cover for a large sum assured at rates that are very
economical. Met Suraksha is an invaluable protection at a not-so-valuable
cost.

Met-Mortgage Protector Single Pay / Limited Pay (MRTA)

Met-Mortgage protector Single Pay / Limited Pay is specially designed to

protect your dependents against the liabilities incurred on a housing loan.
Available in terms of 5 through 25 years, the Met Mortgage Limited pay
version continues even after the premium paying term is over.

Retirement
There's a day in all our lives that we look forward to with anticipation and
some anxiety too - the first day of retirement. A time when finances are
crucial. A time when you want to be sure that you are financially
independent and secure.

MetLife has comprehensive plans that allow you to build a fund to enjoy
financial security on retirement.

MET Pension (Par) gives you a friendly helping hand so you can be s, eight
annuity options, and much more… plan, Met Advantage Plus comes with
six investment option
ADDS ON
At MetLife, we want our customers to get maximum out of their lives. Be it
in terms of making their dreams come true or getting the best out of their
insurance plan. With this in mind, we created MetMore, which allows you to
customize your life insurance plan. So that it can be tailored to meet the
unique needs of you and your family members. MetMore offers you a choice
of riders, which are optional contracts that allow you to enjoy additional
benefits. They are always attached to the basic policy at the time of
purchasing it, and cannot be bought separately or independently. Each rider
comes with it’s own premium rates and separate policy conditions. The
premium, nature and characteristics of the rider are based on the base policy
to which the rider is attached.

So go on, get more out of life.

Here are all the riders you can choose under MetMore

 Accidental Death Benefit

 Term Rider
 Waiver of Premium
 Critical Illness

INTRODUCTION TO MARKETING STRATEGY

Marketing strategy as a key part of the general corporate strategy

A marketing strategy is most effective when it is an integral component of

corporate strategy, defining how the organization will engage customers,
prospects and competitors in the market arena for success. It is partially
derived from broader corporate strategies, corporate missions, and corporate
goals. They should flow from the firm's mission statement. They are also
influenced by a range of microenvironmental factors.

Marketing strategy and sectorial tactics and actions

A marketing strategy also serves as the foundation of a marketing plan. A
marketing plan contains a set of specific actions required to successfully
implement a marketing strategy. For example: "Use a low cost product to
attract consumers. Once our organization, via our low cost product, has
established a relationship with consumers, our organization will sell
additional, higher-margin products and services that enhance the consumer's
interaction with the low-cost product or service."

A strategy consists of well thought out series of tactics. While it is possible

to write a tactical marketing plan without a sound, well-considered strategy,
it is not recommended. Without a sound marketing strategy, a marketing
plan has no foundation. Marketing strategies serve as the fundamental
underpinning of marketing plans designed to fill market needs and reach
marketing objectives[3]. It is important that these objectives have measurable
results.

A good marketing strategy should integrate an organization's marketing

goals, policies, and action sequences (tactics) into a cohesive whole. Many
companies cascade a strategy throughout an organization, by creating
strategy tactics that then become strategy goals for the next level or group.
Each group is expected to take that strategy goal and develop a set of tactics
to achieve that goal. This is why it is important to make each strategy goal
measurable.

Marketing strategies are dynamic and interactive. They are partially planned
and partially unplanned. See strategy dynamics.

Types of marketing strategies

Every marketing strategy is unique, but if we abstract from the

individualizing details, each can be reduced into a generic marketing
strategy. There are a number of ways of categorizing these generic
strategies. A brief description of the most common categorizing schemes is
presented below:

 Strategies based on market dominance - In this scheme, firms are

classified based on their market share or dominance of an industry.
Typically there are three types of market dominance strategies:
o Leader
o Challenger
o Follower
  Porter generic strategies - strategy on the dimensions of strategic
scope and strategic strength. Strategic scope refers to the market
penetration while strategic strength refers to the firm’s sustainable
competitive advantage.
o Cost leadership
o Product differentiation
o Market segmentation
 Innovation strategies - This deals with the firm's rate of the new
product development and business model innovation. It asks whether
the company is on the cutting edge of technology and business
innovation. There are three types:
o Pioneers
o Close followers
 Late followers Growth strategies - In this scheme we ask the question,
“How should the firm grow?”. There are a number of different ways
of answering that question, but the most common gives four answers:

 Horizontal integration
 Vertical integration
 Diversification
 Intensification

A more detailed schemes uses the categories:

 Prospector
 Analyzer
 Defender
 Reactor

o Marketing warfare strategies|Warfare based strategies- This

scheme draws parallels between marketing strategies and
military strategies

There are only three marketing strategies needed to grow a business: (1)
Increase the number of customers (2) Increase the average transaction
amount, and (3) Increase the frequency of repurchase.
Every marketing strategy should be measured by it's ability to directly
impact and improve upon each of these three factors.

Increasing only one factor will produce linear business growth. Increasing
all three factors will produce geometric business growth.

Marketing Strategy #1. Increase the number of customers

Increasing the total number of customers is the first step most business
owners and managers take to grow their business.

Losses can occur when inexperienced sales personnel are put in charge of
designing and implementing a marketing program - investing corporate
resources to find more customers.

Executed correctly, basic marketing strategies cost efficiently produce new

prospects who are ready, willing and able to buy products or services. The
main purpose of a marketing strategy is to give sales personnel prospects to
convert into paying customers.

Rewarding existing customers for referring new ones is one easy step
business owners can take to increase their total number of customers.

Marketing Strategy #2. Increase the average transaction amount

Owners and managers spend most of their time operating their business and
searching for new customers. They often overlook the customers they see
regularly. These repeat customers are usually taken for granted and left to
conduct entire transactions without ever being asked if they would like to
buy more product or service.

Complacency, expecting customers to buy a minimum amount of product or

service without ever being asked to buy more, can be the undoing of a
business. This attitude can eventually cause customers to spend less money.
Customers who aren�t continuously offered compelling reasons to keep
buying more of the same products and services from one business will look
for new reasons to buy from another.

Cross selling and upselling, systematically offering customers more value

via additional products or services at the point of sale, are two simple steps
business owners can take to increase their average transaction amount.

Marketing Strategy #3. Increase the frequency of repurchase

In an established business, an average customer purchasing pattern develops

and (like the average transaction amount) is usually taken

for granted and rarely improved upon.

A customer's repeat business is earned by the business who gives the

customer what they want. Without having basic marketing strategies or
processes for consistently offering customers more of what they want, repeat
business is earned less frequently.

Frequently communicating news and offers to past and present customers

via telephone or mail generally increases their frequency of repurchase and
is one more step owners can take to grow their business.

To learn more about Tim Cohn's Thesis In Marketing Strategies, Basic

Marketing Strategies or to get 101 Marketing Strategies visit the Marketing
Strategies Catalog section of this site.
COMPANY PROFILE
 COMPANY PROFILE

With over 137 years of experience, the MetLife companies serve

millions of customers in the Americas and Asia with one goal in mind
– to build financial freedom for everyone. The MetLife companies are a
leader in group benefits that serve 88 of the top one hundred
FORTUNE 500®* companies, and provide benefits to 37 million
employees and family members through its plans sponsors in the U.S.
The MetLife companies are also ranked #1 in group life and #1 in
commercial dental in the U.S. The MetLife companies are the number
one life insurer in the U.S. with approximately US $2.8 trillion of life
insurance in force.
–

In India, MetLife was incorporated in 2001, and aims to differentiate

itself through customized need based selling, simple and innovative
products, and technology-backed service experience, to tread its path
to build financial freedom for everyone
Board of Directors

Phone Nos. E-Mail

Chairman:
Mr. C. S. Rao 040- chairman@irda.gov.in
23241273

040-
66820957
Fax : 040-
66823334

Whole-Time members:
Mr.C.R. Member 040- crmurali@irda.gov.in
Muralidharan (Finance) 66820965
Fax : 040-
66823334
Mr.K.K Member 040- srinivasan@irda.gov.in
Srinivasan (Non-Life) 66820959
Fax : 040-
66823334
Mr.G.Prabhakara Member 040- gprabhakara@irda.gov.in
(Life) 66820958
Fax : 040-
66823334
Mr.R.Kannan Member 040-66820960 rkannan@irda.gov.in
(Actuary) Fax : 040-
66823334

Part-Time Members:
Sri Sunil Talati President P O Box No. president@icai.org
Institute of 7100
Chartered Indra
Accountants Prastha
of India Estate
NEW DELHI
– 110 002
Ph: 011-
30110400
(D)
Smt. Ela R Bhatt Self Reception
Employed Centre, Opp
Women’s Victoria
Association Garden,
(SEWA) Bhadra,
AHMEDABAD
380 001.
Phone 079-
25506444,
25506477
Sri Vijay Managing Bhartiya vijaymahajan@basixindia.com
Mahajan Director Samruddhi
Finance
Limited 5-1-
664/665/679
3rd Floor,
Surabhi
Arcades,
Troop Bazar,
Bank Street
Hyderabad,
AP-500 001
Ph: 91-40-
6661-8846
Dr Sanjiv Misra Secretary Dept of
Ministry of Expenditure
Finance North Block
NEW DELHI
110 001
Ph: 91-011–
2309 2929
 KARVY JEOJIT
DHANLAKHMI BANK

UTI BANK MetLife J & K BANK

MINI WAY2
MUTHO KARNATAKA BANK WEALT
OTTU H

ORGANISATION STRUCTURE
Partners of MetLife

1. UTI Bank

2. J & K Bank

3. KARVY

4. GEOJIT Securities

5. WAY2WEALTH

6. MINI MUTHOOTTU

7. DHANLAXMI BANK

8. KARNATAKA BANK

DETAILS OF THE PARTNER

1. UTI BANK

UTI Bank was the first of the new private banks to have begun operations in
1994, after the Government of India allowed new private banks to be
established. The Bank was promoted jointly by the Administrator of the
specified undertaking of the Unit Trust of India (UTI - I), Life Insurance
Corporation of India (LIC) and General Insurance Corporation Ltd. and
other four PSU companies, i.e. National Insurance Company Ltd., The New
India Assurance Company, The Oriental Insurance Corporation and United
Insurance Company Ltd.
The Bank today is capitalized to the extent of Rs. 282.65 crore with the
public holding (other than promoters) at 57.05%.
The Bank's Registered Office is at Ahmedabad and its Central Office is
located at Mumbai. Presently, the Bank has a very wide network of more
than 578 branch offices and Extension Counters. The Bank has a network of
over 2383 ATMs providing 24 hrs a day banking convenience to its
customers. This is one of the largest ATM networks in the country.
The Bank has strengths in both retail and corporate banking and is
committed to adopting the best industry practices internationally in order to
achieve excellence.

2. J & K BANK
History

Jammu and Kashmir Bank Limited was incorporated on 1st October, 1938
and commenced its business from 4th July, 1939 at in Kashmir (India). The
Bank was the first in the country as a State owned bank.

According to the extended Central laws of the state, Jammu & Kashmir
Bank was defined as a govt. Company as per the provision of Indian
companies act 1956. In the year 1971, the Bank received the status of
scheduled bank. It was declared as "A" Class Bank by RBI in 1976

Today the bank has more than 500 branches across the
country and has recently become a billion Dollar

Company.

Profile

 Incorporated in 1938 as a limited company.

 Governed by the Companies Act and Banking Regulation Act of
India.
 Regulated by the Reserve Bank of India and SEBI.
  Listed on the National Stock Exchange (NSE) and Bombay Stock
Exchange (BSE)
 53 per cent owned by the Government of J&K.
 Rated "P1+" by Standard and Poor- CRISIL connoting highest degree
of safety.
 Four decades of uninterrupted profitability and dividends.

3.KARVY

KARVY, is a premier integrated financial services provider, and ranked

among the top five in the country in all its business segments, services over
16 million individual investors in various capacities, and provides investor
services to over 300 corporates, comprising the who is who of Corporate
India. KARVY covers the entire spectrum of financial services such as
Stock broking, Depository Participants, Distribution of financial products
like mutual funds, bonds, fixed deposit, Merchant Banking & Corporate
Finance, Insurance Broking, Commodities Broking, Personal Finance
Advisory Services, placement of equity, IPO’s, among others. Karvy has a
professional management team and ranks among the best in technology,
operations, and more importantly, in research of various industrial segments.

Karvy Computer share Private Limited is a 50:50 joint venture of Karvy

Consultants Limited and Computer share Limited, Australia. Computer
share Limited is world's largest -- and only global -- share registry, and a
leading financial market services provider to the global securities industry.

The joint venture with Computer share, reckoned as the largest registrar in
the world, servicing over 60 million shareholder accounts for over 7,000
corporations across eleven countries spread across five continents. Computer
share manages more than 70 million shareholder accounts for over 13,000
corporations around the world.

Karvy Computer share Private Limited, today, is India's largest Registrar

and Share Transfer Agent servicing over 300 corporates and mutual funds
and 16 million investors.
4. JEOJIT SECURITIES

Mr. C.J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership
firm in the year 1987. In 1993, Mr. Ranajit Kanjilal retired from the firm and
Geojit became a proprietary concern of Mr. C .J. George. In 1994, it became
a Public Limited Company by the name Geojit Securities Ltd. The Kerala
State Industrial Development Corporation Ltd. (KSIDC), in 1995, became a
co-promoter of Geojit by acquiring 24% stake in the company, the only
instance in India of a government entity participating in the equity of a stock
broking company. Geojit listed at The Stock Exchange, Mumbai (BSE) in
the year 2000. In 2003, the Company was renamed as Geojit Financial
Services Ltd. (GFSL). The board of the company consists of professional
directors; including a Kerala government nominee with 2/3rd of the board
members being Independent Directors. With effect from July 2005, the
company is also listed at The National Stock Exchange (NSE). Geojit is a
charter member of the Financial Planning Standards Board of India and is
one of the largest DP brokers in the country.

Overseas Joint Ventures

 Barjeel Geojit Securities, LLC, Dubai, is a joint venture of Geojit

with Al Saud Group belonging to Sultan bin Saud Al Qassemi having
diversified interests in the area of equity markets, real estates and
trading. Barjeel Geojit is a financial intermediary and the first licensed
brokerage company in UAE. It has facilities for off-line and on-line
trading in Indian capital market and also in US, European and Far-
Eastern capital markets. It also provides Depository services and deals
in Indian and International Funds. An associate company, Global
Financial Investments S.A.O.G provides similar services in Oman.

Doha Bank-Geojit in Qatar: Geojit has a tie up with Doha Bank

 in Qatar, which offers capital market services from the India Desk.
5. WAY2WEALTH

Way2Wealth is a premier investment consultancy firm that has been

launched with the aim of making investing simpler more understandable and
profitable for the investors. Insurance and mutual fund to equity and
derivatives (on the national stock exchange) for the convince and benefit of
it customers . Way2Wealth has over 40 easily accessible investment outlets
spread across 20 major towns and cities in the countries

6. DHANLAKHMI BANK
Dhanalakshmi Bank was incorporated on 14th November 1927 by a group
of enterprising entrepreneurs at Thrissur, the cultural capital of Kerala with a
Capital of Rs.11,000/- and had only 7 employees. It became a Scheduled
Commercial Bank in the year 1977. It has today attained national stature
with 181 branches and 26 Extension Counters spread over the States of
Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Maharashtra, Gujarat,
Delhi and West Bengal. The Bank serviced a business of Rs. 4223 crores as
on 31.03.06 comprising deposits of Rs.2533 crores and advances of Rs.1690
crores. As at the end of March 2006, the Capital Adequacy Ratio of the
Bank was 9.75% well above the mandatory requirement of 9%. The Bank
made a net profit of Rs.9.51 crores for the year ended 31st March 2006.

The Bank is techno savvy and has deployed technology widely as an

instrument for enhancing the quality of customer service. It has introduced
Centralised Banking Solution (CBS) on the Flexcube Platform for extending
Anywhere/Anytime banking to its clientele through multiple delivery
channels. The Bank has deployed CBS in 150 branches covering nearly 95%
of total business. The Bank has set-up a state-of-the-art DATA CENTRE in
Bangalore, to keep the networked system operational 24 hours a day and 7
days a week.
The Bank lays stress on customizing services and personalizing relations. It
has introduced in November 2005 an International Debit Card with tie-up
with M/s Visa International. In another customer-friendly move, the Bank
has joined CASHNET, the first independent nation-wide shared ATM
network in India and the National Financial Switch (ATM network) of the
IDRBT, promoted by Reserve Bank of India. By joining Cash net and NFS,
our customers have been provided access to more than 14,000 ATMs in the
country. The Bank has installed 63 networked ATMs thus far at centres of
high banking activity.

The Bank has introduced tele-banking in 50 branches and Internet banking

in 84 branches. It has also put in place a Cash Management System (CMS)
that provides speedier cheque collection through 59 branches.

The Bank has put in place Real Time Gross Settlement (RTGS) System to
facilitate large value inter-bank payments and settlements in real time on-
line mode on a transaction-by-transaction basis. It is in the process of
extending RTGS to customer transactions.

The Bank has ventured into both life and non-life insurance. It is selling life
insurance products of M/s. MetLife India, a renowned global player in this
segment and non-life insurance products of M/s. Iffco Tokio, as their
corporate agent. The Bank is also a depository participant of NSDL
(National Security Depository Limited) offering Demat services through
selected branches
.

With a view to making available value-added services to the NRIs, the Bank
has set up NRI Boutiques (Relationship Centres) at 8 locations in the State
of Kerala. The Bank has also plans to open specialized NRI branches with
accent on quality of service and thrust on specialization at potential
locations. As at the end of March 2006, the Bank had rupee drawing
arrangements with 7 Exchange Houses in the Middle East.

The Bank’s Industrial Finance Branch at Kochi and Corporate Office,

Trichur have been accredited with certification under ISO 9001-2000.
On the socio-economic front, the Bank is a leading player in dispensation of
Micro Credit among Kerala-based Private Sector Banks. As at the end of
March 2006, the outstandings under micro credit were Rs.55.63 crores. This
involvement is part of the Bank’s objective to act as catalysts for the
economic prosperity of the country. The Bank has recognized micro finance
intervention as an effective tool for poverty alleviation and has streamlined
the linkage between the Bank and Self Help Groups through 100 branches.
The Priority sector advances of the Bank as at 31st March 2006 constituting
43.84% of net bank credit well above the RBI benchmark of 40%.

The Bank is managed by a Board of Directors comprising professionals

drawn from various walks of life with Mr A.D. Navaneethan as the
Chairman and Sri P.S.Prasad as Managing Director & CEO.

7. KARNATAKA BANK

At Karnataka Bank, we understand that all customers are different in

unique ways, which is why, regardless of the size of your business or your
aspirations, we treat every one as individual and special. This means offering
you choices, not only in relation to our products and services but also in the
way you interact with us. We understand the changes in your lifestyle,
recognize these changes and support you with a high standard of
professionalism and service.

As a premier bank, we have developed comprehensive range of

customized products & services suitable for every kind of market, trade
or perceived need - Business or Personal. They include, borrowing
facilities, deposits, providing optimum returns on surplus funds or helping
with overseas transactions.
We believe in total quality at all levels. We have deployed the most modern
information technology to deliver products & services for your benefit with
an aim to develop an effective long-term relationship. But most of all,
Technology is matched to your expectations of service, for today & for the
future.
OBJECTIVE OF THE STUDY
OBJECTIVE OF THE STUDY

 To Know about the Met Life India Insurance Co. Pvt. Ltd.

 Study the services offered by Met Life India Insurance Co. Pvt.
Ltd. and the customer’s
satisfaction level of the same and to access where the
bank has to improve.

 To know about the people’s interest in Met Life Insurance Co.

Pvt. Ltd.

 To know the satisfaction level of the customers with this scheme.

 To state about the benefits which the consumer can avail

from Met LifeInsurance Co. Pvt. Ltd..

 Improving customer services

 OBJECTIVE

My objective in this training is the overall Marketing Strategy of

MetLife India Insurance co. Pvt. Ltd. And try to find out its Whole
Marketing Strategy compare with other insurance company
through Questionnaires.

Our Vision and Mission

Build financial freedom for all through leadership in providing financial

advice and building long-term relationships through innovative protection,
accumulation and retirement products, robust underwriting processes and
creating world-class customer service experience for our customers.

We want to provide customers in India with world-class solutions for

financial security, and in the process add significant value to our
shareholders, associates and society.

Our Core Values

 We lead through Innovation to offer world class and competitive

products to our customers
 We build Long Term Relationships with our customers by creating a
world class service experience through operational excellence and the
innovative use of technology
 We create a Customer Centered and Result Focused Vision that
inspires each one of our Associates and has their buy-in
 We are committed to creating a High Performance Organization by
creating an environment that allows each one of our Associates to
perform at their peak. As a result we will also be recognized as an
Employer of Choice
 We are committed to Partnering with our internal and external
Customers for mutual success
 We work with Integrity, Fairness and Financial Prudence in all our
dealings keeping the interests of our Shareholders, Customers and
Associates paramount
 CHAPTER-2
REVIEW OF LITERATURE
 REVIEW OF LITERATURE

The chapter gives an overall view of the researches conducted at

international and national level to facilitate identification and understanding

the areas covered so far in the area of insurance marketing, customers‘

perception and satisfaction. It also paves the way for future research. An

extensive review of literature was undertaken to ascertain research gap and

to identify the relevant issues for the study. This chapter provides a bird‘s-

eye view of available relevant studies arranged logically in chronological

order that were carried in the previous years. Anna Rita Bacinello and Fulvio

Ortu (1996)1in their study had proposed a pricing model for the insurance

policies, which the authors believe to benefit in measuring the performance

of an interest rate sensitive assets (reference fund), and a minimum

guarantee in present. The model is cast in the celebrated term structure

framework depended by Cox, Ingersoll and Ross (1985). As for the

behaviour of the investment sequent, the study analysed two polar cases. In

the first one the payments due on the fund when the contract is still alive are

not reinvested, while in the second the study proposes a reinvestment policy.

The study explains how to obtain solution for the single premium in the no-

reinvestment case, and how to implement a solution approach to calculate

numerically the single premium in the reinvestment. The authors illustrate

their analysis with numerical results that help in understanding the static

properties of the models proposed.

Gupta Swati (1996)2 says that insurance sector reforms are a part of the

government‘s priorities. A package of reforms is very much in the offing.

There is an immediate need of a regulatory framework to open up the

insurance industry. Basu Dev Sanyal (1997)3 in his article titled "Marketing

Management in Insurance" had proposed a model of Managerial Life Cycle

(MLC). This model is closely associated with the Product Life Cycle (PLC)

theory of modern management. Based on the marketing scenario in the

Indian insurance industry, the MLC model included six phases-

introductions, growth, maturity, stagnation and decay. The study concluded

that the pace of the future growth of industry will be based on the versatility

and innovative capacity of its marketing managers. Khanna (1997)4

categorically mentioned that life insurance policy requires servicing and the

importance of agent to render service. The author emphasis the fact that only

insurance agents can penetrate rural areas and serve the poor class clients.

Further he stressed that the need of professionalism in the entire approach of

insurance marketing which included: continued focus on the customers‘

uality of performance, technological up gradation and minimized paper

work.
 CHAPTER-3

RESEARCH METHODOLOGY
Research Methodology

Objectives Of The Study

1. To obtain a general understanding of the marketing strategies adopted

by an insurance company.
2. To analyze the strategies of MetLife Insurance company. and to
ascertain the relationship between effectiveness of the strategies and
profitability.
3. To obtain the brand awareness and Promotion of the company

Assumptions
1. The time frame of all marketing strategies and Public Relations
procedures is fairly long and they are not implemented for short term
selling only.
2. It is taken into consideration that there exists a positive correlation
between the various marketing strategies of the company.
3. MetLife Insurance company Pvt. Ltd. is a renound name in the
insurance sector. At times it is the name or the goodwill that sells
rather than the actual product features.

Hypothesis

1. The marketing strategies of MetLife Insurance company pvt. Ltd.

have a direct bearing with the perception of the products or service in
a consumer’s mind.
2. Marketing strategies practices have highest influence on profitability
in comparison to other aspects and factors.
Research frame

The study involved an analysis of the marketing strategies and public

relations practices of a leading newspaper daily. As the thesis project tried to
establish a relationship between the marketing strategies, Promotion of the
company, It’s Brand marketing, consequences in terms of profitability, the
framework for the research was chosen to be EXPLORATORY in nature.
Exploratory research is that part of the overall market research, which is
used to discover something new. Normally in any case there can be a
number of opportunities or possible problems and it is impractical to study
each of them. Exploratory research in such a case is very useful to find out
the most likely alternatives. These alternatives are then turned into
hypothesis.
Hypotheses are tentative and logical answers to questions that serve as
guides for most research projects.
The various means of going about or executing exploratory research are
 Survey of knowledgeable person
 Case study
This thesis report is largely based on Survey of knowledgeable persons and
Survey of knowledgeable persons. The case study method could not be
applied to a very great extent due to the intricacies involved and hence its
role was limited.
 CHAPTER-4

DATA ANALYSIS AND

INTERPRETATION
 ANALYSIS
1. Life insurance corporation control 79 % of Insurance market Delhi
And NCR regions where as MetLife is fastly emerging and its rank is
now 9th and its growth rat is 146% .

2. Maximum policies are brought by the age group of 30-40 followed by

25-30

AGE GROUP STAKE

30-40 .30
25-30 .18
20-25 .16
30-35 .12
40-45 .10
45-50 .10
50(ABOVE .04

3. The role of channel of in information in insurance has a significant

part to play. The public perception in long term investment giving
low returns need to be changed as per my studies the maximum reach
in the market is through advisors /insurance agents which almost has
40% reach stake .The second most reachable channel of information is
Friends and relatives which contributes 25% TV/Media holds 30%
and brokers investment agent has 5% stake in the channel through
which information about insurance about
insurance is disseminated.

4. The customers preferences amongst attributes of service and

credibility is slightly more towards credibility as 51% persons has
preference at credibility where as rest 49% preferred services over
credibility.
 5. The customer preferences amongst the four attributes of investment in
insurance viz Investment ,saving for future ,risk cover & tax saving is
as below

Order First preference Second Third Fourth

preference preference preference
RISK COVER SAVING FOR INVESTMENT INVESTMENT
1 FUTURE
TAX SAVING RISK COVER TAX SAVING TAX SAVING
2
SAVING FOR TAX SAVING SAVING FOR RISK COVER
3 FUTURE FUTURE
INVESTMENT INVESTMENT RISK COVER SAVING FOR
4 FUTURE

6. Results drawn on the basis of likert scale rating method gave

Following conclusions :-

(1) As far as service is concerned MetLife Insurance is the best service

provider Closely followed by LIC and ICICI Prudential. The excellent
customer perception about service of MetLife insurance is due of its Bank
partner, which has been the best service provider among private and Public
sector banks in India.

(2) In terms of accessibility LIC is No. one followed by MetLife is

No.9 in Life Insurance Company, the accessibility of LIC can be attributed
to the vast network of its agents operating in life insurance services in the
country. MetLife swiftly gaining ground due of enhanced network of
distribution (Branches) and insurance agent/advisor. Company has 53
branches and a advisor force of 50000 persons.
 (3) The credibility of LIC is far better than all other insurance companies
operating in India. The reason behind the high credibility of LIC is due of
its being a public sector undertaking apart it is the oldest life insurance
company operating since 1955 in India.

Customer Preferences Of Following Attributes In Buying Life

/General Insurance
(a) Investment
(b) Saving for future
(c) Risk cover
(d) Tax saving
 PREFERENCES

ATTRIBUTES FIRST SECOND THIRD FOURTH TOTAL

INVESTMENT 15 20 30 35 100
SAVING FOR FUTURE 25 30 23 27 100
RISK COVER 20 17 13 50 100

TAX SAVING 40 33 24 3 100

50
45
40
35
30
25 Investment
20 Shaveing for future
15 Risk Cover
10 Tax Shaveing
5
0

CUSTOMER PREFERENCES
1. Risk Cover
2. Tax Shaving
3. Investment
4. Shaving for Future
MARKET SHARE OF DIFFERENT
INSURANCE COMPANIES IN DELHI
AND NEAR BY REGION :-
SIZE OF UNIVERSE –13,00,000

SAMPLE SIZE –100

COMPANIES PROFILE SAMPLE BELONGING

TO
LIFE INSURANCE CO. PUBLIC SECTOR 70
ICICI PRUDENTIAL PRIVATE SECTOR 10.2
BAJAJ ALLIANZ PRIVATE SECTOR 7
BIRLA SUN LIFE PRIVATE SECTOR 4
KOTAK MAHINDRA PRIVATE SECTOR 0.8
METLIFE PRIVATE SECTOR 3.0
HDFC PRIVATE SECTOR 5.0

MARKET SHARE
LIFE INSURANCE CO.
PUBLIC SECTOR
ICICI PRUDENTIAL
PRIVATE SECTOR
BAJAJ ALLIANZ
7% 4%1%3% 5%
PRIVATE SECTOR
10%
BIRLA SUN LIFE
PRIVATE SECTOR
KOTAK MAHINDRA
PRIVATE SECTOR
70%
METLIFE PRIVATE
SECTOR
HDFC PRIVATE
SECTOR
Insurance Company Market Share (Fig. in
%)
LIC 71.44
ICICI Prudential 11.35
Bajaj Allianz 7.06
HDFC Standard Life 2.37
SBI Life 1.81
Birla Sun Life 1.49
Max New York Life` 0.98
TATA AIG 0.79
Aviva 0.89
OM Kotak Mahindra 0.86
ING Vyasa 0.57
Reliance 0.37
MetLife 0.24
 CHAPTER- 5

FINDING
CONCLUSION
SUGGESTION
LIMITATION
FINDING

STRENGTH

 Strong infrastructure.
 Backing from financial institution.
 MetLife insurance company is a joint venture between four bank and
four financial institute.
 MetLife has 24% stake and the rest of 74% holding by the Indian
partner
 Easy accessibility due to strong distribution network consisting of
branches and bancassurance.
 Providing smart services all over the country.
 Availability if various product line (choices for customer)
 Trained and customer oriented staff.
 Maximum returns through various MMF fund investment plan.
 Proving a customer oriented investment option for persons
 Liquidity and flexibility of investment.
 Better customer care services in comparison to other life insurance
companies.
 More relaxation on paying of premiums.
 Minimum penalty and foundations on paying of premium.

WEAKNESS

 Lack of brand image

 Promotion of the company is not good
 Few financial Advisors comparable with LIC and ICICI Pru.
 Number of offices are Less
CONCLUSIONS

The study, which I conducted on the analysis of marketing strategy of

MetLife Insurance India pvt. Ltd ., has been a great experience.

As the objective was to examine the marketing and public relations

departments of the leading Insurance Companies, the entire report has been
an effort to do just that. The insight obtained has been helpful in
understanding what happens in the industry.

The Indian Insurance Industry which for long had been dominated by LIC is
now coming of age, with the entry of new Insurance Companies entering the
market and relaxed regulations providing a conducive environment for
launching new products and services.

Due to intense competition a wide range of services at the disposal of the

customer, these Insurance Companies are now rethinking their Marketing
strategies increase their market shares. Let us go in details of the various
departments of marketing and advertising.
SUGGESTION
The rapid increase in competition and the never ending launches of new
products and services describe the insurance sector of today.
This transformation has been because in order to attract a share of the
financial market and to increase it over time, the companies are coming out
with strategies that are novel in nature. Tailor made schemes for niche
segments of the society are an attempt in this direction.
However this is not the end of road. They should strive for introducing new
products and services and at the same time updating the old ones.

 Problem posed by bouncing of cheque (difficulty in cheque

clearance).
 Stringent terms and condition of insurance policies.
 Insurance is product of solicitation.
 Unavailability of MetLife Insurance branches in small cities,
towns and rural area.
 High amount of base premium.
 Fear of policy lapse on not paying premium on right time.
 Lack of faith amongst low income group customers.
 Unit linked plans do not assure fixed returns.
 Entry of global and national players in to life insurance sector
poses danger of greater competition and realignment of life
insurance market.
 Company should spent more in advertising
 Company should expand their branches
 Company should recruit more and more Financial Advisors
LIMITATION

The following limitation that is incurred to the researcher while making the
project report:-

 The first and the main is the time boundness. Because of the time
boundness of the project the data is not much more relevant for the
project.

 Along with the time boundness there is a mass area which was not
captured with in the given time.

 The information which the researcher collected can be biased.

 Perception of the people are different so that the information should

not be much more reliable.

 According to the needs of the people, people thinks differ from other.
ANNEXEURE
BIBILOGRAPHY

BOOKS

 PHILIP KOTLER “MARKETING MGMT ANALYSIS PLANNING

TECHNIQUES AND CONTROL”

 C.R.KOTHARI “RESEARCH METHODOLOGY”

 HAWKINS “MARKETING RESEARCH”

 COOPER “MARKETING RESEARCH”

 CUSTOMER BEHAVIOUR

 METLIFE PRODUCT MODULE

WEBSITES

 www.metlife.co.in

 www.metlife.com

 www.google.com
QUESTIONAIRE

1. Name ____________________________

2. Age Group (Tick appropriate One)

20-25 25-30 3 0-35 35-40 40-45
45-50 50(Above)

3. Sex
Male Female

4. Do You Have any Life Insurance Policy (If Yes , Mention It) ?

5. Under which company policy you are taken ? (Mention the company name)

6. Which Policy you are taken ?

a. ULIP b. Others

7. Do you heard about MetLife Insurance Company ?

a. yes b. no

8. From Where Did You Come To Know About MetLife?

(A) T.V / Media (B) Friends /Relatives

(C) Insurance Agents/Advisor (D) Investment
Agent/Brokers

9. Have you seen MetLife advertise ? ( If yes )

a. T.V b. Newspaper
c. Magazine d. Others
10. Do you have any relative or friend who have any police of MetLife?
a. yes b.no

11.which insurance company advertise you can easily find ?

( Mention the company name)

12. Do You know about the benefits of being the advisor of a insurance
company?

(A) yes (B) No

Address
Phone No.

____________________________________
____________________________________
____________________________________