Last Updated on February 16, 2023 by
INTRODUCTION
Insurance is a kind of protection against the risk of sustaining a financial loss. One of the primary applications of this kind of risk management is to protect oneself against the possibility of suffering an unforeseen or contingent financial loss. A person’s life as well as their possessions are always under danger of being taken from them, rendered disabled, or destroyed. The potential for monetary loss is inherent in these factors. Download consumer behavior in general insurance sector project.
The appropriate approach to transfer such risks is to do so via the use of insurance provided by an insurance company. The insurance policy includes specifics regarding the terms and circumstances under which the insurance company will pay out the insurance sum to either the insured person or the nominees, depending on which option was selected when the policy was purchased. Purchasing insurance is one strategy to shield yourself and your family from the impact of a monetary disaster.
Download the mba project report on insurance sector MBA project report for the final project of the semester. You can get help with your MBA project by asking for it. Find free MBA project ideas, topics, summaries, and project proposals. Get download reports on Consumer Behavior in General Insurance Sector Project Work that meets the university’s standards.
OBJECTIVES
- To investigate the rationale behind one’s decision to get insurance
- Determine the purchase behaviour of customers toward life insurance companies and their expectations of such companies
- To gather information on the quality of the services offered by insurance agents
- To do research on the various sorts of benefits offered by insurance companies
- To provide the firm with the details of the client’s insurance policy as well as the explanations for why the customer chose a certain policy.
- To analyze the characteristics of the organization that entice customers to purchase insurance
LITERATURE REVIEW OF CONSUMER BEHAVIOUR IN GENERAL INSURANCE SECTOR
It is a sort of contract between the insurance company and the individual whose life is being ensured, for the payment of a quantity of money in the event that anything unpleasant happens. Because of how valuable human life is, absolutely everyone should have some kind of life insurance. When the policy reaches its maturity age or the insured suffers an untimely death, the payout is given to the insurer. A individual who receives his life insurance in accordance with the provisions of a contract.
Life insurance is commonly regarded to be an investment that removes risk and substitutes certainty for uncertainty, and it provides prompt assistance to a family in the tragic event that a member of the family passes away.
CONCLUSION
This research was carried out to investigate the purchasing patterns of customers at General Insurance Company. It resulted in the production of several fascinating tendencies that are observable from the study carried out before. The vast majority of respondents are open to making investments in insurance offered by the government company .
Therefore, private insurance companies have a responsibility to prioritize their advertising operations in order to enhance their company’s reputation among the customer. Customers have come to anticipate more cutting-edge insurance that provide high returns and a greater number of perks. Business that provides life insurance should provide digitalized services to the clients since the customers anticipate receiving services of this kind.
The consumers are happy with the product or service insurance plans provided by the life insurance provider. There are still some customers who see life insurance policies as nothing more than a tool for life-saving exclusively. The insurance firm has the responsibility of convincing customers that life insurance is a valuable instrument that can safeguard their family from financial hardship in the future. Agent of trust for the customer for the purpose of purchasing life insurance and all subsequent processes, such as paying the premium, resolving their questions, and so on, the interaction among the public is necessary.
| Project Name | : MBA Marketing – Consumer Behavior in General Insurance Sector |
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