TITLE OF THE STUDY

By

NAME
USN:

A Project Report submitted in partial fulfilment of the requirements of

Executive Master in Business Administration
In

Operations Management

Under the Supervision of:

Dr. / Prof. ………………………………
Professor /Associate Professor/ Assistant Professor/Adjunct Professor

Dayananda Sagar University

Bangalore, Karnataka, India
Month, Year

1
 TITLE OF THE STUDY

By

NAME
USN:

A Project Report submitted in partial fulfilment of the requirements of

Masters in Business Administration

In

Operations Management

Under the Supervision of:

Dr. / Prof. ………………………………
Professor /Associate Professor/ Assistant Professor/Adjunct Professor

Dayananda Sagar University

Bangalore, Karnataka, India
Month, Year

2
 DECLARATION BY STUDENT

Title of the Project: (mention title of the project)

I declare that the presented research work represents largely my own ideas and work in my own
words. Where other’s ideas or words have been included, I have adequately cited and listed in the
reference materials. The thesis has been prepared without resorting to plagiarism. I have adhered
to all principles of academic honesty and integrity. No falsified or fabricated data have been
presented in the thesis. I understand that any violation of the above will cause for disciplinary
action by the Institute, including revoking the conferred degree, if conferred, and can also evoke
penal action from the sources which have not been properly cited or from whom proper permission
has not been taken.

Date: ……………… Name of the Student:

USN :

3
 BONAFIDE CERTIFICATE

It is certified that the Capstone Project work titled “TITLE OF THE STUDY” is a bonafide work of
Student’s Name, USN. He/She has carried out this work under my supervision. It is also certified to
the best of my knowledge that the work reported herein does not have part of any other project report
based on which a degree or award was conferred on an earlier occasion on this or any other candidate.

Date: Name of the Guide

NOTE:
Some sentences highlighted in
(Signature of the Dean with Seal) RED are to draw your
attention only where you
need to put data of yours.

The entire Report should be

in:
1) Font colour- Black
2) Font Size- 12 (Chapter
Name & Numbering -
18)
3) Font Style- Times New
Roman

4
 PLAGIARISM REPORT

Plagiarism, that is, the willful representation of another person’s work, without the acknowledgment
or the deliberate and unacknowledged incorporation on a student’s work of material derived from the
work (published or otherwise) of another, is UNACCEPTABLE and will incur the penalty of outright
failure.

I am satisfied that the work in original and is not plagiarized.

(Signature of the Guide)

5
In this space, place the
PLAGIARISM REPORT – FIRST
PAGE ONLY showing
percentage of similarity.

Once the Final report is

accepted and approved by
the Project Guide, the
student needs to forward the
report to Aravind Sir along
with acceptance mail from
Guide.
Arvind sir will share the
plagiarism report with
student concerned within 3-5
days.

Take a print and place it in the

report in this place.

6
 EXECUTIVE SUMMARY / ABSTRACT

This section should include: (300-1000 words only)

• Brief introduction to your topic

• Need for study / importance of this topic
• Objective of your study, in paragraph (no bullet points)
• Methodology you have used
• Findings of your study
• Practical implacability of your findings/ how your findings will benefit the
society/business/nation or any stakeholder, if any.

This portion you will write after completing the project. It is a summary of the Entire Project.

7
 ACKNOWLEDGEMENT

I would like to express my gratitude to everyone who supported me throughout the course of this
Project work.

First of all, I would like to thank my project guide Dr./Prof. ………………………… for providing
me constant guidance, support and direction to complete this research work and for being a persistent
source of inspiration and encouragement.

I sincerely thank Prof. (Capt.) Nagaraj Subbarao, Dean, SCMS for giving me the opportunity to carry
out this Capstone Project work.

I would also thank my family and friends for providing me continuous support and encouragement to
go about completing my project successfully.

Name of the Student:

USN:

8
 TABLE OF CONTENTS Page No.

Section A: Preliminaries

Declaration

Certificate

Certificate on Plagiarism

Plagiarism Report

Abstract

Acknowledgement

Table of Contents

List of Tables

List of Figures

List of Symbols, Abbreviations, and Nomenclature

Section B: Text of the Thesis Page No.

Chapter 1: Introduction

1.1 Introduction

1.2 Objectives of the Study

1.3 Scope of the Study

1.4 Limitations of the Study

1.5 Chaptalization

Chapter 2: Review of Literature

Chapter 3: Research Methodology

3.1 Research Design

3.2 Dataset and Research Methodology

3.2.1. The Sources of Data

1
 3.2.2. Methods of Data Collection

Chapter 4: Finding and Analysis

4.1 Data Analysis

4.2 Findings of the Study

Chapter 6: Conclusion
6.1 Conclusion
6.3 Suggestions
References

Appendix- I

List of Tables
The list should use the same captions as they appear above the tables in the text.
List of Tables Page No.

1.1

1.2

2.1

2.2

4.1

4.2

4.3

4.4

5.1

5.2

5.3

2
 List of Figures
The list should use the same captions as they appear below the figures in the text.
List of Figures Page No.

1.1

1.2

1.3

2.1

2.2

3
 CHAPTER 1

INTRODUCTION

4
1.1 . INDUSTRY PROFILE

Indian Insurance Industry

Between 2019 and 2023, the life insurance market is predicted to grow at a CAGR of 5.3%. In
FY21, India's insurance penetration was estimated at 4.2%, with 3.2% coming from life insurance
and 1% from non-life insurance. In FY21, India's insurance density was $78 per 1,000 people.

Life insurance premiums in India are estimated to exceed Rs. 24 lakh crore (US$ 317.98 billion)
by the end of the financial year (FY31).

Twenty-four life insurance firms and 34 non-life insurance businesses compete for consumers in
India, with prices and services, but just two reinsurance companies exist. As a result of aggressive
publicity and marketing initiatives by insurance companies, product innovation and a thriving
distribution network have propelled the business forward.

General and health insurance market private sector market share climbed from 48.03 percent in
FY20 to 49.31 percent in FY21. There was a 6.94 percent rise in the gross first-year premium of
Life insurers in 2021-22 (until January 2022).

In FY21, India's life insurance companies collected $81,7 billion in new business premiums, a
2.8% increase over FY20.

In 2021-22, the life insurance industry's total amount covered climbed by 25.50 percent (until
January 2022).

In September 2021, life insurance premiums increased by 22.2%, compared to a growth rate of
2.9% in September 2020.

Compared to the same period in FY21, gross premiums written off by non-life insurers were Rs.
108,705.3 crores (US$ 14.47 billion) between April 2021 and September 2021, an increase of
12.8%.

Indian life insurance premiums from new enterprises totaled US$ 20.7 billion in FY22*, while
renewal premium was US$ 53.7 billion.

5
Market Size

Life insurance premiums in India are estimated to exceed Rs. 24 lakh crore by the end of the
financial year (FY31).

Comparing the first half of FY22 to the same time last year, the life insurance sector grew by 5.8
percent.

There was a 6.94 percent rise in the gross first-year premium of Life insurers in 2021-22 (until
January 2022).

The amount of gross premiums that non-life insurers had to write down between April 2021 and
January 2022 was Rs. 227,188.89 crores, an increase of 6.94 percent over the same period in FY21.
There was an increase in the amount of money paid out for non-life insurance premiums from
January 2021 to January 2022, with the sum reaching Rs. 21,957.03 crore in 2022 compared to Rs.
21389.70 crore.

The private sector's share in the health and life insurance markets increased from 48.03 percent in
FY20 to 49.31 percent in FY21.

A total of $81.7 billion in new business premiums were received by Indian life insurance firms in
FY21, up 2.8% from FY20.

Six separate private health insurance providers saw their combined premium income rise by 66.6%
from May 2020 to May 2021, from 844.13 crore to 1,406.64 crore.

There was a 41% increase in the number of non-life insurance firms offering health coverage
during the COVID-19 boom in March 2021.

The premiums collected by general, standalone, and specialised public-sector insurers in July 2021
were Rs 20,171.15 crore, up 19.46 percent year-over-year from the Rs 16,885 crore collected in
the same month of the previous year.

S&P Global Sector Intelligence identifies India as the region's second-largest insurance technology
market, with $3.66 billion invested in insurtech venture capital.

6
Investments

The following are some of the most significant insurance-related investments and advancements
in India:

● A Swiss impact fund will provide Probus Insurance $6.7 million in December 2021.
● In order to provide a variety of services, companies are using strategic partnerships.
● It will be in November of 2021 that ICICI Lombard and Vega will combine to provide a
personal accident insurance cover to clients who buy Vega helmets online.
● For its clients, ICICI Prudential Life Insurance will introduce the ClickPay function in
November 2021.
● With this initiative, HDFC Life is likely to improve its position in the southern Indian
provinces.
● After acquiring the remaining 51 percent of WTW India in November 2021, Willis Towers
Watson will now own 100 percent of the firm.
● An insurance start-up called Acko secured US$ 255 million in funding in November 2021,
increasing the company's worth to a whopping $1.1 billion.
● ZestMoney raised US$50 million in September 2021 to expand its insurance business.
● A preliminary permission from IRDAI to function as an insurance broker for life and
general insurance products was revealed by PhonePe in August 2021. As a consequence,
the firm's 300+ million customers may now get insurance advice from the corporation.
● When it comes to the individual insurance sector, LIC saw its first-year premium income
hit a new high of Rs 56,406 crore ($ 7.75 billion) in FY21, up 10.11 percent from the year
before.
● Drone operators will be well-protected by ICICI Lombard General Insurance beginning in
August 2021. In the event of theft, loss, or damage, as well as third-party liabilities, this
product safeguards the drone and any connected payload (camera/equipment).
● This would be done by issuing Life Insurance Corporation of India preferred equity shares
at a price of Rs 2,334.69 crore (US$ 312,43 million) in June 2021. (LIC).
● Gallagher plans to buy a 100% share in Edelweiss Gallagher Insurance Brokers in India in
July 2021.

7
Government Initiatives

A number of measures have been implemented by the Indian government to help the insurance
business. The following are some of the examples:

● To raise Rs. 50,000 crores ($6.62 billion) by 2022, the Indian government intends to sell a
7% interest in LIC. An IPO of this size is unprecedented in India.
● To improve the quality of Meghalaya's health services, particularly its health insurance
programme.
● Investing Rs. 6,000 crores (US$ 804,71 million) in organisations that provide export
insurance cover was agreed by the Union Cabinet in September 2021 to allow more exports
of Rs. 5.6 lakh crore over the following five years.
● Government-owned general insurance businesses will get a $413.13 million injection from
the Finance Ministry in February 2021 as part of an effort to boost their overall financial
health.
● Cultivation insurance funds of Rs 16,000 crore ($2.20 billion) have been set aside for the
2020 budget.

Road Ahead

Several improvements to the legislative framework, together with the resulting shifts in business
practises and client interactions, bode well for the life insurance industry's future.

There is a 14-15 percent annual growth in the life insurance business in the nation over the next
three to five years.

Indian life insurance is expected to develop as the middle class expands, the population becomes
younger and more conscious of the need of insurance protection and retirement planning.

8
Figure 1. Insurance trend

NOTES 1.

For every chart/figure/table:

• It must be numbered.

• For figures, write Figure 1,

Figure 2, Figure 3 ….. and so
on. It should be named.

• For, Tables, write Table 1,

Table 2, Table 3 ….. and so on.
It should be named.

• For Charts, write Chart-1,

Chart 2, Chart 3 ….. and so on.
It should be named.

• Figure includes pictures, Chart

includes excel charts, Table
includes data in tabular form.

• It must mention source. If it is

self-made, then write “Author’s
compilation”

Source: IRDA Report, 2019-20 • Chart/figure/table no. should

come on top, while source
should come at the bottom.

9
1.2 Insurance

People and organisations alike may benefit greatly from insurance as a risk management tool, since
it can shield them from a variety of financial dangers. Financial losses may be reimbursed with
insurance, but emotional and psychological losses are not. When it comes to life's unforeseen
events, you can't control them, but insurance may assist you shift the financial risk associated with
them.

NOTES 2
DO NOT PUT/PLACE ANY
SUCH UNRELATED /
IRRELEVANT PICTURE

When a person pays an insurance premium, the insurance company guarantees to reimburse him
or her for any financial losses he or she suffers as a result of an insured contingency, as long as the
payments are paid on time. A risk transfer mechanism, insurance is a way to transfer your risk to
an insurance company and get compensation for any financial losses you may suffer as a result of
unanticipated occurrences. Also known as "premium," this is the sum you spend to secure this
agreement. Insurance is provided for a wide range of hazards, ranging from your own mortality to
the devices you use on a daily basis. In the end, protecting what you consider "important" is a
must.

Types of insurance available

One may choose from several different insurance plans in India. All insurance policies may be
placed into one of these three broad types:

● Life insurance products

● General insurance products

10
Types of Marketing Strategy

NOTES 3
DON’T COPY AND PASTE.
TYPE THE CONTENT AND
Mention the source.

Portfolio Marketing Strategy

Make a list of all the items you've sold and all the ones you haven't in order to determine which
ones are still in demand and can thus be kept in production.

Segmentation Marketing Strategy

The goal of this technique is to determine the market's many sub-segments. There are three primary
ways to segment data:

11
1.3 IMPORTANCE OF THE TOPIC

Pressures and competition are high in today's economy, especially in the realm of financial leasing
performance services (Goergen, 2001).

New threats have emerged in this sector as a result of the rise of new media (Fuchs, 2001).

New business ideas, a change in customer sophistication, and an expanding number of fresh rivals
(such as independent financial advisors) are presenting new challenges to established financial
services organisations throughout the globe. A marketing plan is meaningless without an
accompanying marketing strategy. Actionable measures to implement a selected marketing
strategy are laid out in detail thanks to a well-thought-out marketing plan. There is a difference
between strategy and tactic. While it is possible, it is not recommended to write a tactical marketing
plan until you have developed a sound, well-thought-out strategy. Without a sound marketing
strategy, every marketing plan is likely to fail. For every marketing initiative to be successful in
its mission, a well-thought-out marketing strategy must serve as its bedrock. These objectives
should be measurable in some way. A successful marketing strategy will bring together the
company's marketing goals, principles, and strategies. The point of developing a marketing
strategy is to have something to hang subsequent marketing activities on. This helps the company
achieve its goal in the most effective and efficient way possible.

12
 CHAPTER 2

LITERATURE REVIEW

13
Introduction

Insurance plays an important role in the macroeconomic growth of a country. According to

UNCTAD, "healthy national insurance and reinsurance market is a key element of economic
progress" (UNCTAD, 1964).

Total insurance premiums in India have grown significantly in comparison to their worldwide
equivalents, as has the country's insurance business. The insurance industry in India has grown at
a CAGR of 16.5% during the last 17 years or so.

India's insurance industry now includes 59 firms, comprising 24 life insurers and 35 non-life
insurers (reinsurers included) (IRDAI website). 74.7 per cent of the insurance industry in India is
dominated by the life insurance sector, while non-life insurance accounts for 25.3 per cent. The
insurance business in India has risen at a CAGR of 16.5 percent during the previous 17 years or
so. However, the Indian insurance market's penetration and density are dismal, reflecting the
sector's low degree of growth.

Evolution and growth of the insurance sector in the Indian context

In the past several years, the insurance business in India has gone from being a state-owned
monopoly to a more open and competitive one. In India, the insurance industry has grown
tremendously. In India, insurance premiums climbed by 10.1% in 2017, compared to a 1.5%
growth in worldwide premiums during the same year (IRDAI, 2018).

Despite the fact that life insurance has a huge market share, it has not lost its position. Life
insurance has seen a shift in its product mix with the introduction of unit-linked policies and new
distribution channels like as bancassurance.

History and evolution of India Insurance Sector

In India, the insurance industry had its beginnings in the late 1800s. Back then, the market was
supplied by just a small number of British insurance firms based in India's major cities.

Data on life and non-life insurance transactions by Indian and international insurers, including
provident insurance societies, was gathered in 1928 under the Indian Insurance Companies Act. It

14
was the first comprehensive act that gathered together and updated prior legislations to safeguard
the interests of the insurance public with provisions for effective oversight over the actions of
insurers (Hasan, 2015). It was controlled by foreign insurers before the country became an
independent nation. Insurance products offered by the state-owned LIC in the post-1956 era were
primarily tax-saving instruments (Gupta, Anand, and Rana, 2016).

Marketing Strategies Adopted by Insurance Companies

Sur (2017) studied the

implications of consumer NOTES 4
behavioural factors on In the Literature Review Section, customer
relationship management. • Mention previous research works on She has
mentioned that consumer your topic or alike topic. buying
• Mention author name (year of
behaviour is the threshold publication) and include: of
customer relationship • What that author studied
• What was the methodology
management (CRM). She • What were the findings has
concluded that if the • All the authors mentioned in Literature
Review section, should be included in
organisation proved the “Reference section” at the last. reliable to
the consumers, there will • The Literature Review should include be a great
minimum 5 mentions about previous
bond between consumer work on your topic/alike topic/area. and
organisation and that can • The works/articles mentioned should lead to
preferably be recent one.
effective and healthy customer
relationship management. The result
of the study revealed that if there is
only responsiveness and not any outcome, that will lead to nothing.

Lal & Singh (2017) spoke about digital marketing as the future of company in their descriptive
research. It was mentioned to them that digital marketing is the most efficient approach to connect
with your target audience. The breadth and potentials of digital marketing and its many paradigms
are the subject of this review-based research. Numerous studies have shown that India would have
650 million internet users by 2020, and that mobile phone usage will be widespread across the
country. As a result of their research, they have determined that e-marketing is a critical component

15
of any corporate organisation, and that it has a significant impact on the growth of a company in
India.

Sindhuri et al., (2017) the advantages and disadvantages of digital marketing were discussed in
detail. ad They found that digital marketing gives businesses international visibility, improves
customer happiness, and has a significant influence on their bottom line. To create and maintain a
strong connection with consumers, they found that digital marketing was useful and beneficial.
There are several advantages to using digital marketing in addition to its cost-effectiveness. Banks'
digital marketing was examined by Sanap in 2017. Digital innovations have a significant impact
on the banking industry, and she spoke about this. She also discussed the many types of digital
marketing, their benefits, and how they are used in the banking industry, as well as the obstacles
they provide. With an 80 percent penetration rate of adults utilising internet banking, she
concluded that social media had a significant impact on this trend.

Suginraj (2017) analysed the fast expansion of Indian e-commerce. He spoke on the shifting
market conditions in India. People are discovering the world for long periods of time each day
through the Internet. This is where ecommerce websites come into play and play a crucial role. He
came to the conclusion that India is experiencing rapid digitization, which is altering the landscape
of business. This rise may be attributed to a variety of technological devices.

Himaja (2017) addressed the social media influence on the company. In this article is argued that
online based social networking is altering the way individuals interact, team up, act and build
things. In this study a vast research plan is mapped to draw a link between web based social
networking, business and society. The survey mentioned that web based social networking is a
new buzz term for firms to market the items. It is decided that consumers are depending on these
technological developments and that is producing a big influence on enterprises.

Toor, Husnain & Hussain (2017) provided light on influence of social network marketing on
customer buying intention. They have highlighted that new trends and styles of digital technology
are invading the conventional ones. They have also mentioned that if the firms would not transition
to these changes, this may damage the results of enterprises dramatically. They have determined

16
that social networking marketing affect the consumers’ purchase inclinations to some level and it
is influencing the enterprises.

Singh & Sinha (2017) addressed the influence of social media on performance and development
of company in India. They have highlighted that social networking sites are like simply another
medium of communication and connection but a huge extent and scope, they cover various topics
and varied new ways. They have claimed that worldwide social networking sites are operating as
crucial and necessary instrument for the marketing campaigns of the company firms.

They have found that social networking sites are influencing enterprises to a large degree. These
are aiding commercial organisations in building a wonderful brand image. Yadav (2017) explored
social media as a marketing tool. He has researched the prospects and problems in this
environment. He has commented on the rising use of social networking sites in corporate sector.
The research is meant to explore how social media has influenced the company performances. The
research has determined the varied advantages, scope and challenges related with usage of social
networking sites in commercial enterprises.

Kannan & Li (2017) outlined a methodology for doing research in digital marketing. They outlined
the process of developing a marketing plan, highlighting the importance of digital marketing.
Concerns for consumers, the environment and organisations are only some of the difficulties that
are always growing in this area. They've discussed the advantages of various digital marketing
tools and techniques, such as consumer awareness and response, from a variety of angles, such as
company development.

Panganiban & Villareal (2017) outlined the strategic and tactical use of e-marketing methods in
the context of the garment sector. A website doesn't need digital marketing on its own, they said.
This method is used by businesses to develop and market their goods and services. In their
research, they found that e-marketing methods are successful when used strategically and tactically
by managers and staff. E-marketing tactics should be used more widely in diverse company sectors
to boost sales, according to the researchers.

Akhunjonov & Obrenovic (2017) conducted research on impact of social media on consumer
buying intention. They have mentioned that earlier business organisations were using print media,
television etc. for advertising purposes, but now they are seeking for new ways of marketing and

17
advertising. The purpose of the study to find out how social media and brand perception can help
to find different emerging opportunities to increase the engagement with customers. They have
reviewed the past literature for this. They have concluded that with the increase in social media
channels worldwide, business and customers engagement has increased. Business organisations
are integrating different strategies for targeting and engaging with customers.

Alnsour (2018) conductedquantitative research on the different effects of social media on purchase
intention of the consumers with the research focus on Jordanian Airlines Industry. He discussed
that how different social media benefits affect the purchase intention of the customers of airline
industry. He used exploratory method to conduct the further research and defined different
research hypothesis. He calculated the data through well designed questionnaire and used different
statistical tools to analyse data. He has concluded that there is the positive effect of monetary and
hedonic benefits of social media on consumers’ purchase intention and there is no relationship
between purchase intention and functional and social benefits of social media.

Akar & Dalgic (2018) conducted research on online consumers and their purchase intentions. This
have used the social network theory and theory of planned behaviour to analyse the behaviour of
online consumers. They have target twitter users to conduct the research analysis because of few
factors like: popularity of twitter, market penetration, popularity, and open-source data. This study
will guide the business organizations and e-marketers to create and design the marketing strategies
for their business.

Victor et al. (2018) studied factors which influences consumer behaviour and the purchase
decisions in price dynamic environment. They have followed the exploratory factor analysis
approach. They have discussed about the new technological advancements. They have conducted
the primary research survey of 178 samples. They have analysed the seven factors to determine
the consumer behaviour. In this study it is concluded that there is need to understand the consumer
behaviour with respect to dynamic pricing.

Gibson (2018) discussed the many ways in which digital marketing may be utilised to promote a
company. Businesses are increasingly turning to digital marketing to help them advertise their
goods and services, according to him. As a result of his research, he came to the conclusion that
various digital marketing tactics and strategies might be quite beneficial to a company's operations.

18
Statement of the Problem

When it comes to all four elements of the marketing mix, the Indian insurance industry is set to be
a witness to significant shifts in the near future. Products, prices, distribution methods, and
communication tools might all see more adaptability and innovation in a customer-driven
economy. With its developmental and regulatory guidelines, the Insurance Regulatory and
Development Authority (IRDA) is likely to promote competition, fairness, and reliability, and to
protect insured against excessive, inadequate, or unfairly discriminatory rates, all while continuing
to strengthen and improve upon existing distribution channels. The use of electronic media and
the internet, together with the introduction of new intermediaries like insurance brokers,
necessitates the development of new tactics. Spreading the word about the benefits of insurance
and generating interest in purchasing it will remain a top priority. At the same time, there will be
controls and checks in place to prevent deceptive or unfair advertising practises. This study
examines these marketing mix issues within the Indian life insurance sector.

NOTES 5
Objectives of the study
should preferably be 1- 3
only.

Objectives of the Study

1. To analyze the various promotional tools of Private and Public insurers in India.
2. To make a comparative analysis of customers perception for promotional strategies of
insurance companies in India
3. To find out the key promotional tools for insurance services on the basis of customers‟
responses.

19
Scope of the Study

● This study includes Indian Insurance sector only.

● This study is conducted based on the data
NOTES
collected from 100 customers of insurance
At the end of LITERATURE
companies in India.
REVIEW section, add the
following in sequence:
• Problem Statement
• Objective of the study
Limitation Of the Study
• Scope of the Study
● Many customers of insurance companies in • Limitations of the
India do not answer to the questionnaires Study
because they lack the time or expertise to fill
them out. Even though 300 workers were given the questionnaire, just a fraction of them
filled it out.
● Since most responders are preoccupied with their own tasks, the information they offer is
often hazy at best.
● Time constraints, along with the massive scale of the investigation allowed only 100
participants to be included in the analysis.

20
 CHAPTER 3

RESEARCH METHODOLOGY

21
METHODOLOGY

This section contains information about the techniques that were utilised in data gathering, which
include the following: research design, survey population, sample design, sampling size, sources
of data, and data collection procedures. The tools and techniques of data collecting, as well as the
potential difficulties that may arise during data gathering, are all discussed.

Type of Research

The purpose of the research was to learn about the advertising approaches used by Indian insurance
firms. The information was analyzed using a quantitative approach. We have utilised both primary
and secondary sources to compile our data. Descriptive research is being done for this study.

Research Design

In order to better understand the phenomenon being studied, a descriptive research strategy was
used. The focus of descriptive research is to provide a detailed account of some aspect of a subject's
or population's makeup. Descriptive research studies include those that attempt to forecast the
future by describing the present in terms of a certain group or scenario.

The preferred method for this study is the quantitative design. That is to say, quantitative research
makes it possible to examine people's thoughts and feelings about the evaluative process in great
detail. By engaging respondents in a back-and-forth, the researcher gains a deeper, more personal
grasp of their experiences.

As a result, the quantitative analysis reveals the perspectives of the respondents on the various
facets of the rating system and offers supporting evidence.

Sources of Data Collection

● Primary Data
● Secondary Data

22
Primary Data

Distributing a prepared questionnaire to the workforce and then surveying their responses provided
the bulk of the data needed. Questions on respondents' personal information and preferences were
included in the poll, as were dichotomous choice questions. Two-Way Questions: When the
respondent is given just two possible responses (Yes/No, True/False), Multiple-Choice Questions:
When the respondent is presented with more than two choices, and Likert Scale Questions: When
the respondent is presented with more than two options. Sixty workers took 5 minutes to fill out
the survey without revealing their identities. Because not all respondents finished the poll, only
100 responses were used.

Secondary Data:

Secondary information has been gathered from sources such as the company's website, the internet,
and other sources.

Sampling Technique

The simple random sampling technique was employed in the selection of the sample. The sample
covered Scientist, chemist and operational manager in API industries.

Sampling Area:

Population of sampling will be customers of insurance companies in India.

Sample Size: 100 customers

Tools used for Data Collection

● Structured questionnaires/Survey
● Telephonic interview
● Structured Observation

23
Tools used for Data Analysis

Statistical Instruments:

The data has been examined using statistical procedures. The data acquired is subjected to simplex
percentage analysis, which is performed on the data. The study will be analyzed by using different
tools like tables, graphs, charts.

Simplex percentage analysis:

In order to better comprehend gathered data, percentage analysis is a technique for representing
raw streams of data as a percentage (a fraction of a hundred percent) of the whole.

24
 CHAPTER 4

DATA ANALYSIS AND FINDINGS

25
 1. Gender

Table no. 1

Chart no. 1
NOTES 6
• Don’t put both table and chart like
this on simple data like this, both
are same. In the chart, add values.
In this case, the percentage of
respondents could have been
shown in the chart only, over the
picture.
• In this case, the INTERPRETAION
IS WRONG. Interpretation does
not mean translating the chart in
English. It means what you can
infer from the data as shown in the
chart.
• Don’t include demographic data
like, no. of respondents, gender of
respondents, age of respondents
etc. in the analysis section. Include
data on the topic of research.
Interpretation:

Based on the data in Table 1, we can see that 53% of the respondents are male and 47% are female.

26
 2. Age Group

Table no. 2

NOTES 6
Don’t put both
table and chart like
this on the same
data, both are same.
In the chart, add
values. In this case,
the percentage of
respondents could
have been shown in
the chart only, over
the picture.
In this case, the
INTERPRETAION IS
Chart no. 2
WRONG.
Interpretation does
not mean translating
Interpretation: the chart in English. It
means what you can
According to Table 2, 21% of respondents fall into the 18-25 age bracket, 22% the
infer from fall in the 26-35
data as
age bracket, 19% fall in the 36-45 age bracket, and 19% fall in the shown
46-60 ageinbracket.
the chart.
More than
one-fifth of the responders (22%) are seniors (61 and higher).
Don’t include
demographic data
like, no. of
respondents, gender
of respondents, age
of respondents etc. in
the analysis section.
Include data on the
topic of research.

27
 3. Marital Status

Table no. 3

Chart no. 3

Interpretation:

It can be observed from the table above that 61% of respondents are married while 39% are single.

28
 4. Monthly Income (in Rs.)
Table no. 5 NOTES 7
TABLE No. is there but TABLE
NAME AND SOURCE IS NOT
THERE, I am adding Source
here.
• On the top of the chart or
table, chart number or table
number should be there
along with Table Name or
Source: Author’s compilation Chart Name
•
• At the bottom, source
should be “Author’s
compilation”

29
 Chart no. 5

Interpretation:

The preceding data shows that 37% of respondents fall into the income bracket of 50,000 to
1,000,000 per month. Twenty-six percent of those surveyed report a monthly income of 20,000 to
50,000. Only 19% of respondents report monthly incomes of 110,000 or more, while 18% report
monthly incomes of 20,000 or less.

5. Education level

Table no. 5

30
 Chart no. 5

Analysis and Interpretation:

The data in the table above shows that 59% of respondents have been with the organisation for 5-
10 years, 23% for 10-15 years, and 18% for more than 15 years.

6. Family Structure
Table no. 6

Chart no. 6
31
Interpretation:

The following table reveals that 56% of respondents come from a nuclear family, and 44% come
from a combined family.

32
 7. Region
Table no. 7

Chart no. 7

Interpretation:

The following table reveals that 92% of respondents come from urban region, and only 8% come
from a rural area.

33
 8. I like Insurance advertisements on Television.
Table no. 8

Chart no. 8

Interpretation:

From the data shown above, we may conclude that 50% of respondents agree, with 11% strongly
agreeing, that they prefer insurance commercials on TV, 19% of respondents are indifferent, and
13% disagree, with 7% strongly disagreeing.

34
 9. I like Insurance advertisements on Radio.
Table no. 9

Chart no. 9

Interpretation:

This table shows that 44% of respondents agree with the statement "I prefer Insurance advertising
on Radio," with 24% of those people strongly agreeing with the statement, 17% of respondents
being indifferent, and 10% of respondents disagreeing with the statement.

35
 10. I like Insurance advertisements on Internet.
Table no. 10

Chart no. 10

Interpretation:

From the data shown above, we can conclude that although 51% of respondents agree and 20%
strongly agree that they appreciate insurance ads on the internet, 18% of respondents are
ambivalent and 7% of respondents disagree and 4% of respondents strongly disagree.

36
 11. I like Insurance advertisements on social media.
Table no. 11

Chart no. 11

Interpretation:

If we look at the data shown above, we can see that just 32% of respondents agree, and 13%
strongly agree, that they prefer insurance ads on social media. Another 30% of respondents are
ambivalent, while 17% disagree and 8% strongly disagree.

37
 12. I have bought an insurance influenced by adds shown on internet.
Table no. 12

Chart no. 12

Interpretation:

Table 1 shows that 27% of respondents agree and 8% strongly agree that they have purchased an
insurance policy because of online advertising, whereas 22% are unsure and 28% disagree (with
15% strongly disagreeing).

38
 13. I use internet to search for car Insurance Schemes.
Table no. 13

Chart no. 13

Interpretation:

This table shows that 29% of respondents agree with the statement "I use the internet to seek for
auto insurance schemes," while 11% strongly agree with the statement, 31% are unsure, and 23%
disagree or strongly disagree.

39
 14. I use internet to search for life Insurance Schemes.
Table no. 14

Chart no. 14

Interpretation:

The results of this poll show that 35% of people agree, and 5% strongly agree, that they use the
internet to look for life insurance schemes; 25% of people are unsure; 27% disagree; and 8%
strongly disagree.

40
 15. My bank updates latest and attractive Insurance schemes on social media.
Table no. 15

Chart no. 15

Interpretation:

It can be seen from the table above that 43% of respondents agree, and 3% strongly agree, that
their bank updates current and appealing Insurance programmes on social media; 25% of
respondents were unsure; 20% of respondents disagree; and 9% severely disagree.

41
 16. I am motivated to read posts and updates on social media regarding Insurance
Schemes.
Table no. 16

Chart no. 16

Interpretation:

According to the data shown above, 42% of respondents agree, 10% strongly agree, 17% are
unsure, and 26% disagree or strongly disagree that they are inspired to read articles and updates
on social media about insurance schemes.

42
 17. My bank’s posts on social media regarding the Insurance holds my attention.
Table no. 17

Chart no. 17

Interpretation:

According to the data shown above, 46% of consumers agree and 22% strongly agree that the
social media content produced by their bank in regards to insurance captures their attention. In
contrast, 13% of consumers are ambivalent and 8% strongly disagree.

43
 18. I am more likely to read articles about Insurance when they are posted by a bank on
social media than to do another research.
Table no. 18

Chart no. 18

Interpretation:

The data in the table above shows that 47% of respondents agree and 35% strongly agree that they
are more likely to read articles on Insurance when they are posted by a bank on social media than
to undertake another research, while 15% of respondents are indifferent and 2% and 1%,
respectively, disagree.

44
 19. Social Media Marketing helps in acquiring information about Insurance scheme.
Table no. 19

Chart no. 19

Interpretation:

This chart shows that although 19% of respondents agree and 11% strongly agree that Social Media
Marketing helps in learning about insurance schemes, 33% of respondents disagree and 19%
strongly disagree.

20. I watch YouTube videos to understand more about an insurance scheme.

Table no. 20

45
 Chart no. 20

Interpretation:

The data in the table above shows that 50% of respondents agree and 11% strongly agree that they
have watched a YouTube video to learn more about an insurance programme, whereas 19% are
unsure and 13% disagree (with 7% strongly disagreeing).

46
 CHAPTER 5

CONCLUSIONS

47
Discussions

This study quantifies many aspects of the marketing mix. Age, gender, education level,
occupational level, and organisational structure are the five demographic categories used in this
research. The most important takeaways are as follows: According to the results of the factor
analysis, the most crucial aspect of a mix is the mix ingredient, followed by mix creation and mix
tweaking. It is also possible to extrapolate that respondents from different levels of authority do
not vary much in their views on Mix Adjustment. From these data, we can conclude that responses
from both public and private firms do not vary significantly from one another with respect to Mix
Ingredient, Mix Development, and Mix Adjustment. There is also a considerable variation in how
respondents feel about the mix's ingredients, development, and adjustment based on their age,
gender, and level of education.

The above examination reveals that the hypothesis is not accepted in full since men and women
provide quite different answers on the efficacy of Mix Adjustment. Because respondents of
varying credentials have such divergent views on Mix Development, an analysis of executive-level
responses shows that the hypothesis is not entirely accepted. In light of the above study, it is now
widely acknowledged as true that there is no statistically significant difference in how respondents
from different organisational levels feel about the various components in the marketing mix. There
was no discernible difference in the viewpoints of respondents from private and public companies
on the marketing mix factors, as shown by the statistical analysis of the data.

The following recommendations stem from the aforementioned examination: Insurance companies
should pay attention to and implement the marketing mix concept, quantify the level of spending
on its mix ingredients, research the elasticity of those ingredients, conduct a thorough analysis to
determine the most effective and cost-efficient marketing strategy, study the marketing strategies
of its competitors, and more.

48
Findings

From the data analysis and interpretation, the following findings have been emerged:

● Half of those polled are in favour of insurance commercials on TV, with another 11%
giving a strong yes vote; 11% are indifferent; 13% are against; and 7% are extremely
opposed.
● Forty-four percent of people say they agree,
and twenty-four NOTES 8 percent say they strongly
agree, that they • Findings should be prefer hearing insurance
commercials on the based only on your radio. Seventeen percent
are ambivalent, analysis and data while ten percent are
collected.
opposed, and five percent are very opposed.
• Do not put your own
● Fifty-one percent opinion, thought or of people surveyed express
approval, with perception. another twenty percent
• Findings may be 5-10
giving their enthusiastic approval.
points only curved out of
Seven percent of the analysis section. people surveyed do not
approve, with another four percent giving
their strong disapproval. Eighteen percent of people surveyed do not have an opinion.
● Of those polled, 32% said they agree and 13% said they strongly agree that they prefer
insurance ads on social media (i.e., Facebook, Instagram, YouTube, Twitter, etc.), while
30% said they were unsure and 17% said they disagreed (8% were highly disagree).
● Twenty-seven percent of respondents agree, with eight percent strongly agreeing, that they
have purchased insurance as a result of seeing ads for such products online; twenty-two
percent of respondents were unsure; twenty-eight percent of respondents disagree, with
fifteen percent strongly disagreeing.
● Twenty-nine percent of those polled are in agreement with the statement, with eleven
percent strongly agreeing; thirty-one percent are ambivalent; twenty-three percent are not;
and six percent are strongly not.
● Three-fifths of respondents are in agreement, with another 5% highly so; 25% are
ambivalent; 27% are not; and 8% are extremely opposed to using the internet to research
investment options.

49
 ● Nearly half (43%) of respondents are in agreement with this statement, with 3% strongly
agreeing; 25% are unsure; 20% disagree and 9% strongly disagree that their bank shares
information on the newest and best insurance plans through social media.
● A total of 42% of respondents agree, with 10% strongly agreeing, that they are inspired to
read postings and updates on social media pertaining to insurance schemes; 17% are
unsure; 26% disagree, with 5% strongly disagreeing.
● On half (45%) of respondents agree, with another 22% strongly agreeing that the social
media postings about insurance from their bank keep their interest. Another 12% are
ambivalent, while 13% disagree, and 8% are strongly disagreeing.
● When asked if they would read an article regarding insurance posted by a bank on social
media or do their own study, 47% of respondents agreed and 35% strongly agreed. One-
fifth of respondents were agnostic, two percent disagreed, and one percent strongly
disagreed.
● Only 19% of people are in agreement, with 11% strongly agreeing, that social media
marketing aids in learning about insurance policies. Eighteen percent of respondents did
not have a strong opinion either way, while thirty-three percent disagreed and nineteen
percent strongly disagreed.
● About half of respondents (50%) and a significant minority (11%) say they use YouTube
to learn more about insurance policies; another 19% are unsure; and 13% (7% are highly
unsure) disagree.

Conclusion

Every sector, product, and service require a unique approach to promotion.

Its ultimate purpose is to spread good feedback about the company, its products, and its services
among the target audience. Customers in the insurance industry need reassurance that the
protection they get is commensurate with the premiums they pay. In India, whenever the question
arises of whether to use the private or public sector, two factors are always taken into account.
While the public sector offers more stability, its quality and creativity lag behind. Although the
private sector provides higher-quality services, they are less trustworthy overall because of the
possibility of hidden fees and deceptive advertising. Firms in the private sector need to be more

50
honest and trustworthy initially. Initially, they need to win over the patrons' emotions before they
can change their beliefs. Businesses in the private sector are increasingly using "push" marketing
methods to gain and retain clients. Because of this, public and private insurance firms use very
different forms of advertising.

India's insurance business has been examined in this article to identify the obstacles that have
impeded its expansion. It has transformed from a state monopoly and a closed market to one that
is very competitive and open.

Indian insurance has a long way to go before it is on par with the insurance industries of other
sophisticated nations, despite a slew of reforms. As a result, India has a little part of the global
insurance industry. The fundamental issues must be addressed if the country is to grow its
worldwide market share. The resilience of the Indian economy is critical to the country's economic
success. Both financial and climatic shocks (which are expected to increase as a result of climate
change) are critical for India to have an effective and stable insurance system in place.

There was a history of private life insurance companies in India even before the country's insurance
market was nationalised. Since India's nationalisation, the constitution has mandated the creation
of the Life Insurance Corporation of India. As a result of India's liberal, privatised, and
globalisation policies, the country's insurance businesses have expanded their economic horizons.
On the other hand, a growing number of international insurance firms have also joined the Indian
market. The current situation shows that private sector insurance businesses have grown faster
than those in the government sector. They've stepped up their competitiveness, which is good for
the customer.

New approaches are needed if the life insurance market is to continue to thrive. The insurance
business, in order to fully capitalise on the market's potential, must devise such plans and
strategies.

In order to achieve sustainable growth, assure profitability of company, and increase insurance
coverage, companies need to concentrate on reaching new segments and apply creative methods.

51
Implications & Recommendations

Implications of this research are:

● This finding suggests that initiatives aimed at increasing insurance coverage throughout
India's various states should be prioritised.
● More money should be put into health
care facilities, roads, and other NOTES 9
infrastructure measures because of the
The SUGGESTIONS You make
correlation between physical capital and
economic expansion. • Should only be based on
your research work
● The results of this study may be helpful to
• Don’t put suggestions
state governments in their efforts to based on your own boost
economic development. opinion or idea which is
not backed by
● The findings highlight the need of
data/findings related to
implementing strategic and this project work
operational measures with respect to several
macroeconomic variables, which serve as leading indicators of state economic
development and, by extension, national progress in India.
● The findings are also applicable to the improvement of the insurance market in India.

According to the conclusions of this research, it is recommended that:

Set up your insurance website

When advertising insurance, your business website is often the primary point of contact for
potential customers. Many policyholders will engage with your business for the first time via your
website. Recent research by Deloitte found that 75% of clients form an opinion of your insurance
company's reliability based on the quality of its website. Customers will abandon a firm if they are
unable to connect with what they see on the homepage within the first ten seconds.

52
Invest in SEO

Policyholders must be able to locate your website in order to communicate with you online.
Deloitte predicts that by 2020, 93% of online interactions will begin with a search engine result in
the insurance market. Keep in mind that most people won't even bother clicking on the links in the
middle of the first page of search results, thus prioritising high in the organic rankings is essential.

Create a blog

Most insurance industry advertisers stress the value of maintaining a blog. In addition to attracting
more visitors to your site, blogs may establish your credibility as an industry expert and strengthen
client loyalty. Your insurance firm may become a one-stop shop for insurance information with
the aid of a blog. Consumers are able to learn far more about a variety of goods and services thanks
to blog articles. Forrester found that consumers typically consume 11.5 pieces of material before
deciding on a purchase.

Create compelling video messages

In order to successfully reach today's customers, businesses will need to embrace video marketing.
According to a survey by Forrester, the average American spends six hours a day watching movies
online. It's not only B2C where this discovery holds true. Moreover, the survey found that almost
three-quarters of B2B marketers agree that videos have a beneficial effect on their efforts. To get
you started with your video marketing, consider the following ideas:

● Show your dedication to the greater good.

● Feature policyholder endorsements
● Produce illuminating video diaries
● Make Use of The Various social media

It has been shown in the aforementioned research that almost all insurance companies use some
kind of social media advertising. However, few of these businesses track the ROI of their efforts.

53
Sadly, this is a common mistake made by many businesses. Putting up random stuff on social
media and hoping for a surge in sales is a pipe dream. You need to share carefully selected material
on social media in order to attract more followers and customers.

54
 REFERENCES

1. Upadhyaya, D. (2011). Satisfaction of Consumers. consumer satisfaction, 11135-11141.

2. Yadav, T. &. (2012). Customer
Awareness towards NOTES 10 buying life
insurance products References should include all paper from banks.
Insurance Journal, details mentioned in the Literature 82-89.
3. A. Priya, Dr. Review section and in other areas of Srinivasan,
(2015), A Study on the report. There is a definite/ Customer
Awareness towards specific style of write the references, Health
Insurance with
as follows: Special
Reference to Coimbatore
City, IOSR Journal Name of author (year of publication). of Business
and Management title of research article. name of (IOSR-JBM)
e-ISSN: 2278-487X, journal. Volume, Issue No. Page., pISSN: 2319-
7668. Volume 17, Issue 7.Ver. III
(July. 2015), PP 50- (second name of author comes first 54
4. B. Reshm, N. followed by initial of the first name) Sreekumaran
Nair, K.M. Sabu and B.
For example....
Unnikrishnan (2007), Awareness of
Chakraborty, A. and Das, A.K. (2022).
Health Insurance in A South Indian
Do macro-economic factors drive life
Population – A Community-
insurance growth? An empirical
Based Study, Health analysis. International Journal of and Population
Perspectives and Monetary Economics and Finance, Issues ,30 (3):
177- 188, 2007. Vol. 15, No. 1, pp.1–18.
5. Chaitra Manjunath, Deepa Krishna,
(2015) Awareness about health insurance in rural population of South India, International
Journal of Community Medicine and Public health Vol 2, No (4),2015, Print ISSN 2394-
6040.

55
6. Gumber and Kulkarni (2000), Awareness of Health Insurance in Andhra Pradesh,
International Journal of Scientific and Research Publications, Volume 2, Issue 6, June 2012
1 ISSN 2250-3153.
7. Gumber and Kulkarni (2002), Health Insurance for Informal Sector: Case Study of Gujarat,
Economic and Political Weekly September 30.
8. Harshal T. Pandve and Chandrakant V Parulekar, (2013), Health insurance: Is Indian rural
population aware? International Journal of Applied L Basic Medical Research vol.3(2);
Jul-Dec 2013.
9. JangatiYellaiah (2012), Awareness of Health Insurance in Andhra Pradesh, International
Journal of Scientific and Research Publications, Volume 2, Issue 6, June 2012 1 ISSN
2250-3153.
10. Kalpesh, Goswami1, Sudha B Khambhati (et.l),(2013) Awareness of Health Insurance and
Its Related Issues in Rural Areas of Jamnagar District , National Journal of Community
Medicine, Volume 4,Issue II,Aprl-June,2013.
11. Ms. Kavitha, Dr. A. Latha, Ms. S.Jamuna (2012), Customers’ Attitude towards General
Insurance - A Factor Analysis Approach , IOSR Journal of Business and Management
(IOSRJBM) ISSN: 2278-487X Volume 3, Issue 1 (July-Aug. 2012), PP 30-36.
12. Policybachat (2014), The major challenges facing Insurance sector in India today,
September 19, 2014
13. Sumindhar Kaur (2012, Awareness and Perception study on health insurance, International
Journal of Medicine and Public health, Vol 2 | Issue 2.
14. SukumarVellakkal (2005), A Comparative Analysis of Mediclaim Policy and CHAT
Scheme in India, International Journal of Multidisciplinary Research and Modern
Education (IJMRME) ISSN (Online): 2454 – 6119, Volume II, Issue II, 2016.
15. U. Thaslim Ariff,Dr. K. Sirajuddin, (2016), A Study On Policyholders Perception Towards
Motor Vehicle Insurance (With Special Reference to Pollachi Taluk, International Journal
of Multidisciplinary Research and Modern Education (IJMRME) ISSN (Online): 2454 –
6119, Volume II, Issue II, 2016
16. Vijay Kumar (2012), Changing Trends: Buying and renewing your two-wheeler’s
insurance cover is no longer a hassle, Published: October 14, 2016 by Insurance Regulator

56
 ANNEXURE-1

QUESTIONNAIRE

1. Gender
a) Male
b) Female NOTES 11

2. Age group
a) 18-25 years Affix your questionnaire
b) 26-35 years as annexure.
c) 36-45 years
d) 46-60 years
e) 61 years and above

3. Marital Status
a) Married
b) Unmarried

4. Family size
a) Joint
b) Nuclear

5. Monthly Income (in Rs.)

a) Less than 20,000
b) 20,000 – 50,000
c) 50,000 – 1,00,000
d) More than 1,00,000

6. Family Structure

57
 a) Joint
b) Nuclear

7. Region
a) Rural
b) Urban

8. I like Insurance advertisements on Television.

a) Strongly Disagree
b) Disagree
c) Neutral
d) Agree
e) Strongly Agree

9. I like Insurance advertisements on Radio.

a) Strongly Disagree
b) Disagree
c) Neutral
d) Agree
e) Strongly Agree

10. I like Insurance advertisements on Internet.

a) Strongly Disagree
b) Disagree
c) Neutral
d) Agree
e) Strongly Agree

58
11. I like Insurance advertisements on social media (i.e., Facebook, Instagram, YouTube,
Twitter, etc.).
a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

12. I have bought an insurance influenced by adds shown on internet.

a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

13. I use internet to search for car Insurance Schemes.

a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

14. I use internet to search for life Insurance Schemes.

a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

59
15. My bank updates latest and attractive Insurance schemes on social media.
a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

16. I am motivated to read posts and updates on social media regarding Insurance Schemes.
a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

17. My bank’s posts on social media regarding the Insurance holds my attention.
a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

18. I am more likely to read articles about Insurance when they are posted by a bank on social
media than to do another research.
a) Strongly agree
b) Agree
c) Neither agree nor disagree
d) Disagree
e) Strongly disagree

60
19. Social Media Marketing helps in acquiring information about Insurance scheme.
a) Strongly disagree
b) Disagree
c) Neither agree nor disagree
d) Agree
e) Strongly agree

20. I watch YouTube videos to understand more about an insurance scheme.

a) Strongly disagree
b) Disagree
c) Neither agree nor disagree
d) Agree
e) Strongly agree

61