Summer & Final Internship Project Reports of MBA, Degree thesis for Marketing. Gandhi Institute of Technology and Management
dgshkumar.1989
dgshkumar.198928 May 2017

Summer & Final Internship Project Reports of MBA, Degree thesis for Marketing. Gandhi Institute of Technology and Management

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All the facts & findings, interpretation, analysis and conclusions of the studies conducted in PNB MetLife and Tata Steel Processing & Distribution Limited
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A COMPARATIVE STUDY ON MARKET SHARE OF PRIVATE V/S

PUBLIC LIFE INSURANCE COMPANY WITH REFERENCE TO

PNB METLIFE IN VISAKHAPATNAM

By D. GURUSAI HARIKUMAR

(1225112214)

Introduction What do you mean by market share? Why it is required? How it can be used in decision making?

Objectives To know the market share of different life

insurance companies in Visakhapatnam. To know where does MetLife stands in terms

of market share in Visakhapatnam To know the percentage of the insured

population in Visakhapatnam To know which of the factors influence in

taking a life insurance policy. To know the awareness level about PNB

MetLife in Visakhapatnam.

Research Methodology Primary Data: Original data collected through

market survey. Secondary Data: Journals, past data of

company and internet. Sample Size: 500 Sampling Technique: Probability Sampling

(Simple Random) Type of Questionnaire: Structured

Questionnaire

Analysis Out of 500 people surveyed, 400 were insured. 65% of the insured have LIC policy as against only

2.5% having PNB MetLife policy. 46% people are influenced by family to make a

decision to take life insurance policy. 63% people chose life insurance companies based

on the promotional activities. 45% people take insurance for tax benefits as

against 35% taking for future security. Only 36% people heard about PNB MetLife

Insurance Company.

Analysis contd… 32.8% people rated 2 out of 5 on brand

image. 47.2% people rated 1 out of 5 on promotional. 28.9% people rated 3 out of 5 on customer

service. 26.1% people rated 0 out of 5 on product

portfolio. 36.7% people rated 2 out of 5 on accessibility

of financial advisors. 72.8% people rated 0 out of 5 on claims

settlements.

Findings & Suggestions Majority of the population in Visakhapatnam is

insured. Public company LIC has a major market share. Among private companies, ICICI (10.5%) followed

by Bajaj Allianz (5%) and SBI Life (3.5%). PNB MetLife has a market share of 2.5%. Purpose of taking life insurance happens to be

tax benefits and then security. Promotional activities have to be increased to

increase customer base.

Conclusion PNB MetLife has a market share of 2.5% and

stands at 7th position in terms of market share among life insurance companies.

The competitors are Reliance Life, Tata AIA and Birla Sun Life.

Market share can be increased by promotions & brand image.

Thank You

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