Presentation on…

“BRAND AWARENESS OF ING VYSYA

LIFE INSURANCE AMONG
POTENTIAL CUSTOMERS”

presented by:

Ashutosh Mondal
EIILM
KOLKATA
INTRODUCTION TO ING

 In existence for 150 years.

 World 9th largest leading private company.

 Operates in 60 countries across 5 continents.

 Has a revenue average 76.58 billion Euro.

 ING covers 75 million private, corporate & institutional

Clients (in 50 countries) (2007).
 Employees 1,20,000 people world wide.
 INTRODUCTION TO ING VYSYA
LIFE INSURANCE
 Operating in India since September 2001
 Present in 246 cities in India

 Has over 7000 employees & 51000 advisors serving over 55000
customers
 One of the fastest growing insurance companies in India

 Promoting the concept of HLV where only 4% of the population

is insured.
 ING vysya life was founded in 1991 by a merger between
National-Nederland &NMB Post bank Group.
 OBJECTIVES
 To find out the reasons why people buy Insurance
Products.
 To find out how popular is the brand of ING Vysya.

 To find out the source of the promotional media used.

 To find out the interest level of people to invest in

mutual fund and share market.
 To study the market awareness of ULIP ( Unit Linked
Insurance Products ).
 METHODOLOGY

Here the target group for the survey has been

the following:
 People with income of 10,000 or more per month.

 Age group 20-60

 People Belonging to Kolkata & Burdwan.

 Sample size: 166

 Sampling Method: Convenience Sampling

Products
Category Product Name
Protection ING Term Life
ING Term Life Plus

Saving Reassuring Life

Creating Life
Safal Jeevan
Creating Life Money back
Safal Jeevan Money back
ING Life Plus
ING Creating star
Category Product Name

Retirement ING Golden Life

Best Years

Investment New Freedom Plan

New One life
New Fulfilling Life
High Life
High Life Plus
 Analysis
AGE GROUP PROFILE
35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%
33.73% 22.89% 15.66% 25.90%
1.81%
0.00%
Below 20 20-30 30-40 40-50 50 above
AWARENESS ABOUT LIFE
INSURANCE

88.55% 11.45%
Aware
Unaware
AWARE ABOUT ING VYSYA LIFE
INSURANCE
Aware Unaware

45%

55%
AWARE ABOUT ING VYSYA LIFE
INSURANCE
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00% 28.31% 25.30% 12.65% 33.73%
0.00%
T.V. Friends Hoardings Newspaper
ULIP AWARENESS

43.98%

56.02% Yes
No
INVESTMENT IN MUTUAL FUND OR
SHARE

66.27%

33.73%
Yes
No
PARAMETERS CONSIDERED
WHILE PURCHASING AN
INSURANCE POLICY

28.31%

Higher return
59.65% 12.04% Security
Higher return & Security
FINDINGS

 88.55% are aware Life Insurance.

 45% are aware ING Vysya Life Insurance.

 People viewing insurance as a tax saving and

investment instrument as much as a protective
one.
 S.W.O.T. ANALYSIS
Strengths:
 Huge capital base to absorb financial shocks.

 Excellent training & care given to the agents.

 Business experience in this field for more than 150 years.

Weaknesses:
 A conservative marketing approach.

 Presence of unethical agents that can hamper the image of the

company.
Opportunities:
 Huge untapped market, as the concept of Life Insurance in India
is still in the developing stage.

Threats:
 The Life Insurance Corporation Of India which has been ruling
the Life Insurance market in India Since 1956.
 Threat of new private players entering the market and also from
the ones already existing.
 RECOMMENDATION

 Sending brochure through agents to the respondents

who could be the potential customer.
 To inform the agents that they need to talk about
higher return & security to the customers.
 Promoting ULIP to the respondents who invest in
mutual fund & share.