“Potential of Life Insurance Industry in Surat Market”.
TABLE OF CONTENTS
Contents Page No.
Acknowledgements 5
List of Tables 6
List of Illustrations/Diagrams 7
Executive Summary 9
Chapter 1: introduction 10
Objective 15
Limitation 17
Research Mythology 19
Data Collection 22
Chapter 2: Life Insurance Industry 23
Industry profile 24
important milestones in the life insurance business 29
Insurance sector reforms 31
IRDA 32
Chapter 3: Contribution of Life Insurance Industry 36
Contribution of Life Insurance in the Economy 36
Flow of Insurance Industry in India 37
Structure of life Insurance Industry 40
Life Insurance industry 41
Aggregation of Long Term Savings 42
Spread of financial services in rural Areas 43
Long term funds for infrastructure Development of Capital Markets/Economic Growth 44
Employment generation 45
Special Features 46
Growth Potential 47
Phase of transition 47
Chapter 4:Company Profile 49
Management 51
Area of Business 56
KMOM progress till date 65
KMOM-the partnership and Lineage 66
Products 69
Hierarchy of KMOM of Surat branch 71
Chapter 5: Survey 72
Data interpretation , editing and coding 73
Graph analysis 73
Chapter 6: Finding and Suggestion 83
Chapter 7: Conclusion 84
Chapter 8: References 85
Chapter 9: Annexure 86
Chapter 1:
Introduction
Executive Summary
The service industry is one of the fastest growing sectors in India today. The upcoming sectors which are really showing the graph towards upwards are - Telecom, Banking, and Insurance. These sectors really have a lot of responsibility towards the economy.
Amongst the above-mentioned areas insurance is one sector, which took a lot of time in positioning itself. The insurance business of non-life companies was not much in problems but the major problem was with life insurance. Life Insurance Corporation of India had monopoly for more than 45 years, but the picture then was completely
Contents Page No.
Acknowledgements 5
List of Tables 6
List of Illustrations/Diagrams 7
Executive Summary 9
Chapter 1: introduction 10
Objective 15
Limitation 17
Research Mythology 19
Data Collection 22
Chapter 2: Life Insurance Industry 23
Industry profile 24
important milestones in the life insurance business 29
Insurance sector reforms 31
IRDA 32
Chapter 3: Contribution of Life Insurance Industry 36
Contribution of Life Insurance in the Economy 36
Flow of Insurance Industry in India 37
Structure of life Insurance Industry 40
Life Insurance industry 41
Aggregation of Long Term Savings 42
Spread of financial services in rural Areas 43
Long term funds for infrastructure Development of Capital Markets/Economic Growth 44
Employment generation 45
Special Features 46
Growth Potential 47
Phase of transition 47
Chapter 4:Company Profile 49
Management 51
Area of Business 56
KMOM progress till date 65
KMOM-the partnership and Lineage 66
Products 69
Hierarchy of KMOM of Surat branch 71
Chapter 5: Survey 72
Data interpretation , editing and coding 73
Graph analysis 73
Chapter 6: Finding and Suggestion 83
Chapter 7: Conclusion 84
Chapter 8: References 85
Chapter 9: Annexure 86
Chapter 1:
Introduction
Executive Summary
The service industry is one of the fastest growing sectors in India today. The upcoming sectors which are really showing the graph towards upwards are - Telecom, Banking, and Insurance. These sectors really have a lot of responsibility towards the economy.
Amongst the above-mentioned areas insurance is one sector, which took a lot of time in positioning itself. The insurance business of non-life companies was not much in problems but the major problem was with life insurance. Life Insurance Corporation of India had monopoly for more than 45 years, but the picture then was completely