DATA ANALYSIS & INTERPRETATION

DATA GIVES
COMPANIES

PREFERENCE

OF

RESPONDENTS

NO.OF
RESPONDENT

COMPANYS NAME

OF

SHARE (%)

L.I.C.

78

78

RELIANCE LIFE
INSURANCE

ICICI PRUDENTIAL

10

10

SBI LIFE

HDFC

100

100

TOTAL

INSURANCE

7 2
10
3
LIC

REL

ICICI

SBI

HDFC

78

INTERPRETATION
78% of the people contacted prefer LIC policy to any other and therefore it is ranked
no.1 by that percent of respondents.
DATA GIVES BENEFITS OF INSURANCE PERCEIVED BY RESPONDENTS

BENEFITS

NO.OF
RESPONDENTS

SHARE (%)

Cover Future Uncertainty

55

55

Tax Deductions

20

20

Future Investment

25

25

TOTAL

100

100

25%
Cover Future Uncertainty

Tax Deductions

55%

Future Investment

20%

INTERPRETATION
55% of the respondents believe that covering future uncertainty is the biggest benefit
of an insurance policy.
Whereas, 20% and 25% of them believe that the other benefits are Tax deduction
and future investments respectively.

DATA PROVIDES FEATURES OF INSURANCE POLICY THAT ATTRACTED

NO.OF
RESPONDENTS

SHARE (%)

Money Back Guarantee

15

15

Larger Risk Coverance

37

37

Easy Access to Agents

Low Premium

30

30

Companys Reputation

11

11

TOTAL

100

100

FEATURES OF INSURANCE POLICY

MONEY BACK GUAARENTEE

11%

EASY 30%
ACCESS TO AGENTS

LARGER RISK COVERANCE

15%

LOW PREMIUM
37%

7%

REPUTATION OF COMPANY

INTERPRETATION
Majority of the respondent (37%) found Larger risk coverance as the most attracted
feature of the all.

DATA PROVIDES NUMBER OF INSURANCE POLICY TYPE RESPONDENTS

NO. OF
RESPONDENTS

SHARE (%)

LIFE POLICY

75

75

NON LIFE POLICY

25

25

BOTH

45

45

NATURE OF POLICY

45

LIFE POLICY

NON LIFE POLICY

BOTH
75

25

INTERPRETATION
75% of the respondents have Life Insurance Policy while 45% have both. (The % is
calculated out of 280 positive response)

DATA GIVES PEOPLE PERCEPTION ABOUT INSURANCE

NO. OF
RESPONDENTS

SHARE (%)

A saving tool

81

81%

A tax saving device

74

74%

A tool to protect your family

100

100%

Chart Title

81

100
S A V ING TOOL

TA X S A V ING TOOL

FA MILY P ROTE CTION

74

INTERPRETATION
81% of the respondents have perception of Insurance being a saving tool.
And 74% of the respondents have perception of Insurance being a tax saving device.
But 100% of the respondents are with the view that Insurance is a tool to protect
your family.

DATA SHOWS PEOPLES HAVING INSURANCE

NO. OF

SHARE (%)

RESPONDENTS
Yes

70

70%

No

30

30%

Total

100

100%

30%
70%
No

Yes

INTER
PRETATION
Of the sample size of 400 surveyed respondents 70% of the respondents are having
Insurance policy.
30% of the respondents are either not having any Insurance policy at present or their
policy is already matured.
And at present 100% of the respondents are with the view that Insurance is a tool to
protect your family.

DATA SHOWS BUYING PROCESS OF THE PEOPLE

BUYING PROCESS

NO. OF

SHARE (%)

RESPONDENTS
Customer approached
Insurance company/Agent

45

45%

Company/agent approached
customer

55

555

Total

100

100%

INTERPRETATION

Customer approached Insurance company/Agent

56%

Company/agent approached customer

44.5% of
the respondents approached the Insurance Company / Agent.

Whereas, 55.5% of the respondents were approached by the Company /Agent.

DATA SHOWS REASONS BEHIND FOR INSURANCE

RESPONSE
Tax saving

NO. OF
RESPONDENTS

SHARE (%)

80

80%

Saving / Investment

80

80.%

Family protection

100

100%

80
100

80

INTERPRETATION
80.71% of the Respondents opted for Insurance for tax saving benefits.
80.71% of the Respondents opted for saving / Investments.
But all of them, i.e. 100% of the respondents have opted for insurance for their family
protection.

DATA SHOWS SATISFACTION OF RESPONDENTS WITH RESPECT TO POLICY

RESPONSE

NO. OF
RESPONDENTS

SHARE (%)

Satisfied

60

60%

Not satisfied

40

40%

Not Responded

0.0%

100

100%

40%
60%
Satisfied

Not satisfied

Not Responded

Total

INTERPRETATION
60% of the respondents are more or less satisfied with their existing policy.
40% of the respondents are not satisfied with their existing policy.
In this case all of those who have taken a policy have responded.

DATA SHOWS SATISFACTION OF +RESPONDENTS WITH RESPECT TO

RESPONSE

NO. OF
RESPONDENTS

SHARE (%)

Satisfied

45

45%

Not satisfied

55

55%

Not Responded

0.0%

100

55%
Satisfied

100%

45%

Not satisfied

Total

INTERPRETATION

45% of the respondents are satisfied with their existing service agent.

55% of the respondents are not satisfied with their existing insurance agent.

All of those who have taken a policy have responded.

DATA SHOWS NUMBER OF RESPONDENTS PAYING TAX

RESPONSE
Paying tax
Not paying tax
Total

Paying tax

100%

NO. OF
RESPONDENTS

SHARE (%)

100

100%

0%

100

100%

Not paying tax

INTERPRETATI
ON

Of the sample size of 400 respondents, all the respondents are paying tax.

DATA SHOWS RESPONDENTS INVESTMENTS FOR TAX SAVING

NO. OF
RESPONDENTS

SHARE (%)

LIC

51

51%

NSC

33

33%

Bonds

32

32%

PPF

25

25%

PF

21

21%

11

11%

11
21

LIC

NSC

25

51

BOND

32

PPF

PF

EPF

33

EPF

INTERPRETATION

51% of the respondents save their tax by investing in LIC, which is the highest
among all Investment. This shows that most people for getting taxes benefits
invest in LIC.

33.25% of the respondents do their tax saving by investing in NSC.

32.25% of the respondents to their tax saving by investing in bonds.

DATA SHOWS RESPONDENTS PERCEPTION ABOUT BEST FORM OF

SHARE (%)

Fixed Assets

75

75%

Bank deposits

11

11%

Jewellery

25

25%

Securities i.e. bonds, MFs

40.

40%

Shares

10

10%

Insurance

70

70%

Fixed Assets

70

Bank deposits

10

Securities i.e . bonds, M Fs

Cash & Jewellery

75

Share
s
25

11

Insurance

40

INTERPRETATION

75.25% of the respondents as with the view that Fixed Assets is the best form of
investment for securing their future.

70.5% of the respondents are with the perception that Insurance is the best form
of investment for securing their future, which is one of the highest and this shows
that insurance is an important key for securing your future.

DATA SHOWS WHAT PEOPLE INTENT TO GAIN FROM THEIR INVESTMENT

NO. OF
RESPONDENTS

SHARE (%)

Saving & Returns

100

100%

Security

90

90%

Tax benefits

71.

71
Saving & Returns

71.%

100
90

Security

Tax benefits

INTERPRETATION

100% of the respondents intent to gain saving and returns from their investment.

90% of the respondents intent to gain security from their investments.

Whereas, 71.75% of the respondents intent to gain tax benefits from their
investments.

DATA GIVES PEOPLES PERCEPTION ON APPROPRIATE AGE FOR BUYING

NO. OF RESPONDENTS

SHARE (%)

After 25 years

29

29%

After 35 years

10

10%

After 45 years

0%

Anytime

60

60%

29%

61%
After 25 years

After 35 years

10%
After 45 years

Anytime

INTE
RPRETATION

29% of the respondents are with the view that insurance should be bought after
the age of 25 years.

10.5% of the respondents are with the view that insurance should be buyed after
the age of 35 years.

Whereas, 60.5% of the respondents are with the view that buying of insurance
do not have any thing to do with age i.e. there is no age limitations. It can be
purchased any time according to the need.

DATA SHOWS PEOPLE OPINION ABOUT INDIAN INSURANCE COMPANIES

NO. OF
RESPONDENTS

SHARE (%)

Rigid plans

67

67%

Non user friendly

29

29%

Unsatisfactory services

26

26%

Non Aggressive

35

35%

Satisfactory

24

24%

Good

10

10%

0%

Inflexible plans

10 Unsatisfactory services Non Aggressive

33
26
Satisfactory

Good

29
Very good

Very good

INTERPRETATION

67% of the respondents have the opinion that Indian Insurance Companies
have Rigid plans.
29.5% feel that Indian Insurance companies are Non-user friendly.
26.5% feel that services of Indian Insurance companies are Unsatisfactory.
35.75% of the respondents are with the view that Indian Insurance companies
are Non-aggressive.
24% of the respondents feel that products and services of Indian Insurance
companies is Satisfactory.
Whereas only 10.25% feel that it is Good enough.

And according to the data, no single person has felt that it is very good.DATA
SHOWS WHAT PEOPLE WOULD LOOK FOR IN AN INSURANCE
COMPANY
RESPONSE

NO. OF
RESPONDENTS

SHARE (%)

82

82%

71

71%

Good plans

81

81%

Accessibility

49

49%

A trusted name
Friendly
service
responsiveness

A trusted name

&

49

Friendly service & responsiveness

81

Accessibility

71

Good plans

INTERPRETATION

82% customers look for a Trusted name in a company for insurance.

81.5% customers look for a good plan in a company for insurance.

Friendly service & responsiveness and Accessibility are also important factors looked by
customers in a company.

DATA SHOWS PEOPLE PLANNING FOR NEW INVESTMENTS

NO. OF
RESPONDENTS

SHARE (%)

Planning

87

87%

Not planning

13

13%

Total

100

100%

13%

Planning

87%Not planning

INTERPRE
TATION

Only 12.5% of the customers contacted are not planning for new investments presently.

Whereas, 87.5% of the customers are still planning for new investments this can be a
great potential for Reliance Life Insurance to take them on their favor.

DATA SHOWS PEOPLE INTERESTED IN GOING FOR INSURANCE IF A

NO. OF
RESPONDENTS

SHARE (%)

Yes

43

43%

No

44

44%

Uncertain

13

13%

Total

100

100%

13%
43%

Yes 44%

INTERPRETATION

No

Uncertain

The interested customers i.e. 43% are ready to go for insurance even away from a city if
services and products are worthwhile, which again is a good prospect (potential) for Life
Insurance Corporation of India to take them on their favor.