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    Rationale For The Project: Reliance Life Insurance, Koppal

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    Prasanth Kumar
    Reliance Life Insurance is part of Reliance Capital, one of India's leading private financial services companies. The insurance sector in India has significant growth potential as 80% of the population lacks life insurance coverage and health/non-life insurance is below international standards. The project aims to study Reliance Life Insurance's customer relationship management procedures and efforts to retain existing customers and acquire new ones. It will examine market trends in customer relationship management and how the company motivates advisors. The scope is to understand Reliance's customer relations and efforts to convince customers of products and create loyal customers in the growing but competitive Indian insurance industry.

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    Rationale For The Project: Reliance Life Insurance, Koppal

    Uploaded by

    Prasanth Kumar
    35 views4 pages
    Reliance Life Insurance is part of Reliance Capital, one of India's leading private financial services companies. The insurance sector in India has significant growth potential as 80% of the population lacks life insurance coverage and health/non-life insurance is below international standards. The project aims to study Reliance Life Insurance's customer relationship management procedures and efforts to retain existing customers and acquire new ones. It will examine market trends in customer relationship management and how the company motivates advisors. The scope is to understand Reliance's customer relations and efforts to convince customers of products and create loyal customers in the growing but competitive Indian insurance industry.

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    Reliance Life Insurance is part of Reliance Capital, one of India's leading private financial services companies. The insurance sector in India has significant growth potential as 80% of the population lacks life insurance coverage and health/non-life insurance is below international standards. The project aims to study Reliance Life Insurance's customer relationship management procedures and efforts to retain existing customers and acquire new ones. It will examine market trends in customer relationship management and how the company motivates advisors. The scope is to understand Reliance's customer relations and efforts to convince customers of products and create loyal customers in the growing but competitive Indian insurance industry.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    35 views4 pages

    Rationale For The Project: Reliance Life Insurance, Koppal

    Uploaded by

    Prasanth Kumar
    Reliance Life Insurance is part of Reliance Capital, one of India's leading private financial services companies. The insurance sector in India has significant growth potential as 80% of the population lacks life insurance coverage and health/non-life insurance is below international standards. The project aims to study Reliance Life Insurance's customer relationship management procedures and efforts to retain existing customers and acquire new ones. It will examine market trends in customer relationship management and how the company motivates advisors. The scope is to understand Reliance's customer relations and efforts to convince customers of products and create loyal customers in the growing but competitive Indian insurance industry.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 4

    RELIANCE LIFE INSURANCE, KOPPAL

    Rationale for the Project

    Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the
    Reliance - ANIL DHIRUBHAI AMBANI Group. Reliance Capital is one of Indias
    leading private sector financial services companies, and ranks among the top 3 private
    sector financial services and banking companies, in terms of net worth. Reliance Capital
    has interests in asset management and mutual funds, stock broking, life and general
    insurance, proprietary investments, private equity and other activities in financial
    services.

    Yet, nearly 80 per cent of Indian population is without life insurance cover while
    health insurance and non-life insurance continues to be below international standards.
    And this part of the population is also subject to weak social security and pension
    systems with hardly any old age income security. This itself is an indicator that growth
    potential for the insurance sector is immense.

    1
    RELIANCE LIFE INSURANCE, KOPPAL

    Title of the Project

    Customer Relationship Management in Reliance Life Insurance

    OBJECTIVES

    1. To study the companys procedures conducted by the company for retaining the
    customers.

    2. To study the current market trends in Customer Relationship Management.

    3. To study the companies efforts in maintaining and motivating the advisors for
    retaining an existing customer and building a new customer

    2
    RELIANCE LIFE INSURANCE, KOPPAL

    SCOPE OF THE STUDY

    To understand the relations maintained by the Reliance Insurance Company with


    its customers. Ever increasing competition, low interest rates, and declining margins have
    driven firms to discover the customer as the basic element in their business equation
    Insurance as a sector has shown tremendous growth in recent years. People now are
    becoming more secured in terms of their life as well as their money. They want a
    profitable benefit out of their investment. There is a need to know the companies efforts
    towards convincing the customer about their product and to know how to create loyal
    customers. Insurance happens to be a mega opportunity in India. Its a business growing
    at the rate of 15-20 per cent annually and presently is of the order of Rs 450 billion.

    3
    RELIANCE LIFE INSURANCE, KOPPAL

    PROFILE OF THE COMPANY

    RELIANCE LIFE INSURANCE CO. LTD.

    Few men in history have made as dramatic a contribution to their countrys economic
    fortunes as did the founder of Reliance, Shri. DHIRUBHAI AMBANI. Fewer still have
    left behind a legacy that is more enduring and timeless.

    As with all great pioneers, there is more than one unique way of describing the true
    genius of DHIRUBHAI: The corporate visionary, the unmatched strategist, the proud
    patriot, the leader of men, the architect of Indias capital markets, the champion of
    shareholder interest.

    But the role Dhirubhai cherished most was perhaps that of Indias greatest wealth
    creator. In one lifetime, he built, starting from the proverbial scratch, Indias largest
    private sector enterprise.

    When Dhirubhai embarked on his first business venture, he had a seed capital of
    barely US$ 300 (around Rs 14,000). Over the next three and a half decades, he
    converted this fledgling enterprise into a

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