SUMMER INTERNSHIP PROJECT REPORT

IMPLEMENTATION OF GROUP PERSONAL ACCIDENT

INSURANCE POLICY IN EDUCATIONAL INSTITUTES OF INDORE WITH

REFERANCE TO BHARTI AXA GENERAL INSURANCE CO. LTD.

By
RAJNI YADAV

INSTITUTE OF MANAGEMENT STUDIES

DEVI AHILYA VISHWAVIDYALAYA, INDORE (M.P.)

JUNE- JULY 2010

 ACKNOWLEDGEMENT

"The secret of success in life is to be ready for an opportunity when it comes."

It is with a sense of great pleasure and satisfaction that I am presenting this internship
report.

I take this opportunity to convey heartful thanks to Dr. P.K. Gupta, Director of IMS
DAVV and Mr. Avnish Vyas, training and placement officer, for providing me with the
necessary infrastructure, thereby giving me freedom to carry out the summer internship
training in my area of interest.

My deep sense of gratitude to Mr. Rahul Maindola and Mr. Chintan Trivedi (Business
Development Manager) of Bharti Axa General Insurance Co. Ltd. Indore for providing
information about their company's products and helping me throughout the training.

I am also indebted to my colleagues Mr. Amrit Matta, Mr. Nayan Navgale and Ms.
Priyanka Gupta of for giving me the moral support to accomplish the training
successfully.

Thanks and appreciation to all the staff members of Bharti Axa General Insurance Co.
Ltd Indore for their support and full co-operation.

I perform the solemn duty of expressing heartful thanks to my friends for all that they
meant to me during the crucial times of the completion of my internship.

RAJNI YADAV

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 DECLARATION

I Rajni Yadav class of 2009-2011, a fulltime bonafide student of first year of Master
of Business Administration(MBA) Programme of Institute of Management Studies,
DAVV, Indore. I hereby certify that this internship training carried out by me at
Bharti Axa General Insurance Co. Ltd. and the report submitted is an true work of
mine under the guidance of the industry mentor Mr. Rahul Maindola and Mr.
Chintan Trivedi (Business Development Manager).

RAJNI YADAV

3
 DECLARATION BY ORGANIZATION

This is to certify that Ms. Rajni Yadav, class MBA II sem. had taken the internship
training from Bharti AXA General Insurance Co. Ltd. During the date from 01-06-2010
to 31-07-2010.

Signature:

Name:

Seal:

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 INDEX

S. No TITLE Page
No
1 INTRODUCTION 4

2 GENERAL INSURANCE IN INDIA 10

3 ORGANIZATION PROFILE 11
4 P’s of Marketing of Bharti AXA General Insurance
5 PRODUCTS (CLAIM PROCESS) 14

6 GROUP PERSONAL ACCIDENT INSURANCE 18

7 EDUCATION SECTOR IN INDORE 19

8 MY EXPERIENCE IN BHARTI AXA GENERAL INSURANCE 24

CO. LTD.
9 CONCLUSION 25
10 BIBLIOGRAPHY 26

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 INTRODUCTION

Insurance is a form of risk management in which the insured transfers the cost of
potential loss to another entity in exchange for monetary compensation known as the
premium.

Insurance allows individuals, businesses and other entities to protect themselves against
significant potential losses and financial hardship at a reasonably affordable rate.

Insurance is a mechanism that helps to reduce the effects of adverse situations in the
economical way. It promises to pay to the owner or beneficiary of the asset, a certain sum
if the loss occurs.

The business of insurance is related to the protection of the economic values of assets.
The asset would have been created through the efforts of the owner. The asset is valuable
to the owner, because he expects to get some benefits from it because it meets some of
his needs. This benefit may be an income or in some other form.

Every asset is expected to last for a certain period of time during which it will provide the
benefits, after that, the benefit may not be available. There is a life-time for a machine in
a factory or a motor car. None of them will last for ever. The owner is aware of this and
he can so manage his affairs that by the end of that period or life-time, a substitute is
made available. Thus, he makes sure that the benefit is not lost. However, the asset may
get lost earlier. An accident or some other unfortunate event may destroy it or make it
incapable of giving the benefits. In that case, the owner and those enjoying the benefits
therefrom, would be deprived of the benefits. The planned substitute would not have been
ready. There is an adverse or unpleasant situation. Here, insurance helps to reduce the
effects of such adverse situations.

Everyone that wants to protect themselves or someone else against financial hardship
should consider insurance. This may include:

• Protecting family after one's death from loss of income

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• Ensuring debt repayment after death

• Covering contingent liabilities

• Protecting against the death of a key employee or person in your business

• Buying out a partner or co-shareholder after his or her death

• Protecting your business from business interruption and loss of income

• Protecting yourself against unforeseeable health expenses

• Protecting your home against theft, fire, flood and other hazards

• Protecting yourself against lawsuits

• Protecting yourself in the event of disability

• Protecting your car against theft or losses incurred because of accidents

• And many more

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 Main Principles of Insurance:

• Utmost good faith

• Indemnity

• Subrogation

• Contribution

• Insurable Interest

• Proximate Cause

Utmost Good Faith (Uberrimae Fides)

As a client it is your duty to disclose all material facts to the risk being covered. A
material fact is a fact which would influence the mind of a prudent underwriter in
deciding whether to accept a risk for insurance and on what terms. The duty to disclose
operates at the time of inception, at renewal and at any point mid term.

Indemnity

On the happening of an event insured against, the Insured will be placed in the same
monetary position that he/she occupied immediately before the event taking place. In the
event of a claim the insured must:

• Prove that the event occurred

• Prove that a monetary loss has occurred

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 • Transfer any rights which he/she may have for recovery from another source to
the Insurer, if he/she has been fully indemnified.

Subrogation

The right of an insurer which has paid a claim under a policy to step into the shoes of the
insured so as to exercise in his name all rights he might have with regard to the recovery
of the loss which was the subject of the relevant claim paid under the policy up to the
amount of that paid claim. The insurer’s subrogation rights may be qualified in the
policy.

Contribution

The right of an insurer to call on other insurers similarly, but not necessarily equally,
liable to the same insured to share the loss of an indemnity payment i.e. a travel policy
may have overlapping cover with the contents section of a household policy. The
principle of contribution allows the insured to make a claim against one insurer who then
has the right to call on any other insurers liable for the loss to share the claim payment.

Insurable Interest

If an insured wishes to enforce a contract of insurance before the Courts he must have an
insurable interest in the subject matter of the insurance, which is to say that he stands to
benefit from its preservation and will suffer from its loss.

Proximate Cause

An insurer will only be liable to pay a claim under an insurance contract if the loss that
gives rise to the claim was proximately caused by an insured peril. This means that the
loss must be directly attributed to an insured peril without any break in the chain of
causation.

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 GENERAL INSURANCE IN INDIA

General Insurance provides much-needed protection against unforeseen events such as

accidents, illness, fire, burglary et al. Unlike Life Insurance, General Insurance is not
meant to offer returns but is a protection against contingencies. Almost everything that
has a financial value in life and has a probability of getting lost, stolen or damaged ,can
be covered through General Insurance policy. Under certain Acts of Parliament, some
types of insurance like Motor Insurance and Public Liability Insurance have been made
compulsory.

General Insurance in India covers almost everything related to property, vehicle, cash,
household goods, health and also one's liability towards others. The basic difference of
general insurance with the life insurance policy is that it offers protection against
contingencies.

Nearly 100 general insurance companies have been nationalized under the General
Insurance Business (Nationalization) Act, 1972, and merged into four companies,
namely, National Insurance , New India Assurance , Oriental Insurance and United
India Insurance.

Until 1999, there were not any private insurance companies in India. The government
then introduced the Insurance Regulatory and Development Authority Act in 1999,
thereby de-regulating the insurance sector and allowing private companies. Furthermore,
foreign investment was also allowed and capped at 26% holding in the Indian insurance
companies.

In 2006, the Actuaries Act was passed by parliament to give the profession statutory
status on par with Chartered Accountants, Notaries, Cost & Works Accountants,
Advocates, Architects and company secretaries.

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 ORGANIZATION PROFILE

Bharti AXA General Insurance Company Ltd is a joint venture between Bharti
Enterprises, a leading Indian business group and AXA, a world leader in financial
protection. The joint venture company has a 74% stake from Bharti and 26% stake of the
AXA Group.

Bharti AXA General Insurance combines Bharti's powerful leadership position in India,
its network and corporate relationships, with AXA's vast experience as the leading global
provider in Financial Protection and Asset Management services in over 55 countries
across the globe.

Bharti has been a pioneering force in the telecom sector with many firsts and innovations
to its credit. It also interests in retail, agri business and financial services. While AXA's
operations are diverse geographically, with major operations in Europe, North America
and the Asia/Pacific region. The company will leverage AXA's operational excellence in
the areas of product innovation, technical excellence, quality of service, productivity and
distribution, as well as their expertise in claims management, underwriting, pricing and
investment performance.

Bharti AXA General Insurance hence provide a well defined product portfolio that will
have both traditional and innovative product solutions for the corporate and retail
customers.

The company was incorporated on 13th July 2007. Headquartered in Bangalore, the
company currently has 40 branches across India. Bharti AXA has a vision to ascend to
the "preferred company" status by 2012 - to be preferred by customers, shareholders and
employees. The Company believes that by being available, attentive and reliable, it will
become the preferred company for its customers.

Bharti AXA is based in Bangalore, India with additional offices in Mumbai, Delhi,
Ahmedabad, Hyderabad, Ludhiana, and Chennai. The company has braches in
Chandigarh, Cochin, Coimbatore, Indore, Kolkata, Noida, and Pune.

According to Dr. Amarnath Ananthanarayanan, the CEO, “We believe that our strong
product focus, robust distribution model and technical excellence will help us serve our
customers better. He further adds, “Our aim is to become the Preferred Company, not
only for our Clients, but also for our Shareholders, Employees and partners.”

Bharti AXA has Quality Policy –

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 • To provide fast, fair and friendly service to customers & partners
• To achieve a leadership position in India through a multi-distribution, multi-
product platform
• To adapt AXA's best practice blueprints as a sound platform for profitable growth
• To leverage Bharti's local knowledge, infrastructure and customer base
• To deliver high levels of shareholder return
• To build long term value with our business partners by enhancing the proposition
to their customers
• To be the employer of choice to attract and retain the best talent in India

Strong distribution network & customer base of Bharti - provides access to customer base
of more than 60 million. It is the first General Insurance Company in India to receive the
dual certification of ISO 9001:2008 and ISO 27001:2005.

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 P’s of Marketing of Bharti AXA General Insurance

1. Products and Services:

A) Retail Insurance:

• Motor
• Health
• Personal Accident
• Home
• Shop

B) Commercial:

• Fire
• Engineering
• Marine
• d. Property Crime
• e. Liability
• f. Package

C) Rural:

• Agricultural Pumpset
• Cattle Insurance Policy

2. Price:

Pricing factor is decided on the basis of the type of products which the customer buys.
But in true sense, pricing is very competitive as there are lots of competitors all over the
country. Bharti AXA is a strong player in private companies and its price structure is
highly competitive and reliable.

Example of Bharti AXA General Insurance:

Policy of Two Wheeler Insurance:

This policy provides the following covers

1. Accidental damage to the vehicle due to:

• Fire, lightning, self-ignition, external explosion, burglary, housebreaking or theft,

malicious act.

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 • Riot and strike; terrorism; earthquake; flood, cyclone and inundation
• Whilst in transit by rail, road, air, elevator, lift.

2. Liability cover for:

• Third party injury or death

• Third party property damage caused to their property.

3. Place:

Bharti AXA General Insurance Co. Ltd.

2nd floor, corporate house, near central mall, Indore.

4. Promotion:

The following are the tools through which Bharti AXA promotes its general insurance
business:

• Tele-marketing
• Internet
• Hoardings
• Personal Selling
• Advertisement through newspapers, business magazines and FM radio

5. People:

Bharti AXA has a vision to ascend to the “preferred company” status by 2012 – to be
preferred by customers, shareholders and employees. The Company believes that by
being available, attentive and reliable, it will become the preferred company for its
customers. And its people are Human Capital who has a key role in this process, and it is
committed to create an emotional commitment with its employees.

The companies also have synergy of the Global best practices of AXA Group, the
Country specific proven best practices of Bharti Group and supplement it with its own set
of initiatives towards creating a culture that can attract best of the talents, nourish and
retain them to achieve the long term Corporate Vision.

6. Process:

From the minute customers claim intimation is received, the Claims Team becomes
active and acts efficiently and swiftly towards its settlement. This is part of their
endeavour to make the Bharti AXA General Insurance customer experience always a
positive one.

Bharti AXA CLAIMS MISSION is “Fast, fair and friendly services, delivered in a
proactive, cost efficient manner through technology platforms.

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Along with the claim procedure being so smooth, the general insurance customer is very
much satisfied while taking policy. The customer is given every minute details about a
particular policy which he wants.

7. Physical Evidence:

• Stationery
• Separate departments for smooth functioning of work like Public
Relation Department
• Brochures
• Internet / Web Pages
• Business cards

Competitors of Bharti Axa General Insurance:

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Public sector

• National Insurance Company Limited

• New India Assurance Company Limited

• Oriental Insurance Company Limited

• United India Insurance Company Limited

Private sector

• Bajaj Allianz General Insurance Co. Limited

• ICICI Lombard General Insurance Co. Ltd.

• IFFCO-Tokio General Insurance Co. Ltd.

• Reliance General Insurance Co. Limited

• Royal Sundaram Alliance Insurance Co. Ltd.

• TATA AIG General Insurance Co. Limited

• Cholamandalam General Insurance Co. Ltd.

• HDFC Chubb General Insurance Co. Ltd.

• Export Credit Guarantee Corporation

PRODUCTS

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 COMMERCI
AL

PRODUCTS

RURAL
RETAIL

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 RETAIL

Bharti AXA has made available an array of insurance policies that a customer can rely on
for protection in various kinds of circumstances personal and business.

• MOTOR
Bharti AXA designed following policies to insure motors.

• HEALTH INSURANCE
Bharti AXA General Insurance has made available an array of health insurance policies
that can be relied on for protection in various kinds of circumstances.

It's a well established fact that

Smart Health Insurance Policy
Smart Health Essential Insurance Policy
stress-related ailments have
an earlier onset these days
than in any era before. In
today’s age, modern medicine
helps in combating critical
illnesses, to a very large
extent. This is possible with
Bharti AXA Smart Health
Insurance Policy.
The road to recovery is
always shorter when the mind
is at ease. Often, the worry of
daily expenses in a hospital is
the bitterest medicine to take.
When medical emergencies
and extended stays at
hospitals are unavoidable,

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 allow us to help lighten the
worries of the wallet? Think-
smart!

• PERSONAL ACCIDENT
Personal accident policy provides benefits in times of accidental death & disablement of
an individual or group. It covers any individual against any particular risk pertaining to
and causing death or any injury, while policy period is in place.

• HOME

• SHOP

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 COMMERCIAL

Bharti AXA's offerings in Commercial Insurance cater to the varied needs of different
sizes and types of businesses. Understanding of business's requirements is evident from
these products which are flexible and cost-effective. From micro-enterprises, SMEs to
large corporations, Bharti AXA has addressed the risks faced by them and provides the
right insurance solution to manage those risks effectively. It brings consumer’s reliable
financial protection to his business.

• FIRE

Conflagration, inferno.. whatever the name for a fire mishap it wreaks havoc and
irreparable damage. In particular, Industry is at risk for various kinds of setbacks from
outbreak of fire. Bharti AXA has a range of Fire Insurance offerings to meet your
company's type of need.

Consequential Loss (FIRE) This is required necessarily in addition to a

Industrial All Risks Policy
Standard Fire And Special Perils Precious
Policy
Standard Fire Insurance Policy. While your
Standard Fire Insurance Policy does cover loss or
damage to tangible assets such as building, plant
and stock due to fire and allied perils, there is a
larger adverse impact that a fire has on your
business.
Every business owner needs to address the typical
risks prevailing at an industrial unit or
manufacturing facility. These are the dangers such
as fire, equipment failure, boiler explosion, etc. Any
of these can cause loss of profit and disruption of
operation. The Bharti AXA Industrial All Risks
Insurance Policy is the best protection for the
business against
businessthese risks
assets could turn to ashes or
undergo substantial damage due to a large number
of dangers. The threats to which they are vulnerable
include fire, typhoon, landslide, lightning, riot and
several allied perils.

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 • ENGINEERING

The diverse kinds of risks faced by civil, industrial and other firms as part of their daily
operations are mitigated by a set of appropriate Insurance policies from BhartiMARINE

A large volume of materials and finished goods are transported over water. Bharti AXA
has Insurance schemes to cover the eventuality of losses or damage to marine shipments.

• LIABILITY

In the event of a company having to bear losses/costs/reparations due to its acts of

omission or commission, it is in a better position if it is insured for such Liabilities.

• PACKAGE
Further to the standard Fire Insurance, a company's premises does need additional
cover which protects it from a spectrum of hazards and uncertainties. Bharti AXA
offers solutions in this regard.

• PROPERTY CRIME
Whether during travel, or at your business's showroom, or when entrusting funds to
an employee, and in several personal and business contexts, a person is at risk of
Property Crime.

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Burglary This insurance policy is your best shield
that can protect you against the losses
due to burglary.

Plate Glass This policy covers you against the losses

occurs due to breakage of glass or sleek
of your premises.

Neon Sign/Glow Sign This policy is of benefit to business

establishment, showrooms, shopping
complexes etc. in that it covers accidental
breakage of neon sign/glow sign.

Portable Electronic Equipment This policy covers to portable electronic

equipments like laptop, digital camera,
mobile phones and other similar
equipment against damage or loss.

Money Your most precious paper currency

notes, drafts, cheques etc. is very
portable but its safety during transit is an
acute concern. This policy is the ideal
answer in such a circumstance.

Baggage This is a policy that admirably reduces

your travel-related anxieties. While in
transit, your baggage, important and
precious to you, is vulnerable to various
kinds of dangers.

RURAL

The many important economic activities that are carried in rural areas such as farming,
cattle rearing, sericulture etc. are exposed to several risks that threaten the livelihoods of
the people engaged in them. Attentive to the needs to the rural sector, Bharti AXA has a
range of Rural Insurance products to mitigate those risks and offer financial protection to
its rural customers.

AGRICULTURAL
PUMPSET Water is a precious resource and you depend on your
pumpset to deliver it to your fields. With so much at
stake, it is vital that you insure your pumpset against 22
damage and theft. Your likely losses flow out and
coverage benefits flow in when you have the Bharti
AXA Agricultural Pump Set Insurance policy.
CATTLE INSURANCE As a farmer, your cattle play a major role in sustaining
POLICY you and your family. Exposing them to diseases or
accidents will affect your business. To protect yourself
and your most vital resources from unforeseen losses,
think smart! Simple, yet comprehensive; this defines
Bharti AXA's Cattle Insurance Policy. It compensates
for death of cattle, like milch cows, buffaloes, calves /
heifers, stud bulls, bullocks and mithuns.

GROUP PERSONAL ACCIDENT INSURANCE

The Group Personal Accident Insurance is ideal for almost all

age groups of people that seek to protect themselves and cover themselves against any
sort of personal accident although on an individual platform. In case the groups are
greater than 25 people, then the insurance companies also offer group discounts. The
insurer makes more money when more people are covered, and hence usually the group
discount is phenomenal when the group strength is as high as 500 people!

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The losses incurred by one when involved in an accident, alone or in a group, is always a
traumatic experience of accepting reality as it is and getting down to earth. It is followed
by physical uncertainty and depression. A serious injury can also prevent you form going
to work. In order to combat such situations, people usually take up a Group Personal
Accident Insurance Plan, in order to make sure that any one in the family that meets with
a group accident may be covered in the policy claims.

Mostly, in the case of death, the insurance is complete, and the beneficiary gets the entire
insured amount. The same is the case with permanent disabilities, or the loss of both eyes.

Loss of a single limb or loss of a single eye may gain beneficiaries half the benefit of the
insurance from the government. Temporary partial disability and permanent partial
disability are other injuries covered under this policy and claims can be made for a
percentage for the insured amount.

In most cases, the insurance company will entertain only a particular clause for the same,
exact period of disability. If there are clauses pertaining to the claim, the insurance
company is at the freedom to give loans, but carefully.

It is also advisable to check on the following activities and see if the insurance company
covers these before taking up the group personal accident insurance from that particular
company. Some of the activities that are not usually covered by the insurer are:

• Normal and routine medical, physical and other such health related appointments,
checks and examinations that are not related to diagnosis, admission, injury or
illness or treatment that is not required from a medical perspective in the first
place.
• Cosmetic, plastic or dental surgery or care or remedies, unless really found
required due to an injury, in turn caused by an accident.
• Innate or hereditary abnormalities, anomalies and medical conditions that result
from such conditions.
• Nervous or medical disorders, alcohol treatment and abuse, drug rehabilitation,
drug abuse treatment, insomnia, sleep disorders and convalescence of rest care.
• Purported miscarriage, abortions and pregnancy.
• Illnesses that preexist or are already present before the insurance policy was
taken.
• Attacks on self or attempts to harm self by exposing himself or herself to life
threatening situations and circumstances while sane or while insane.
• Civil disobedience or insurrections of any form , officially undeclared wars of any
sort of violent, war like activities, military, air or naval service during the period
or an undeclared war or while under the command or orders of war like situations
or the restoration of public order.
• Participating in mobs, riots and rebellions or committing acts of assault or acts of
felony.
• Taking part in competitive racing events such as motorcycling, automobile racinn,
or cycling races based on competition.

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 • Riding motorcycles or riding motorcycles as a back seat or pillion rider for
practice purposes.

The ability to procure a Group Personal Accident Insurance, the costs involved and the
premiums to be paid are all subject to change and really depend on the occupation of the
insured person. The insurance companies usually classify jobs available in the market as
Risk classes one, two and three.

Risk class one comprises those that are engaged in management, administration of
functions, accountants, lawyers, doctors, consultant engineers, architects, bankers,
teachers, or those engaged in similar operations that mainly involve indoor work areas.

The risk class two comprises those that are involved in manual labour, operators of
machinery, car drivers, truck drivers, trailers or heavy vehicle drivers, cash carrying
workers, veterinary doctors, superintending engineer, site engineers, contractors, or those
involved and engaged in similar operations as these.

The final and the third risk class comprises those that are working in highly dangerous
work places and risky jobs such as in underground mines, those working with explosive
magazines, race jockeys, circus performers, race drivers, horseback riders, big game
hunters, mountain climbers, winter sporting contestants, skiing, ice hockey contenders,
river rafting, horse polo, polo, or activities of similar nature and occupations.

Sometimes, institutions, work places, clubs and other such organizations offer the
insurance cover for a group personal accident insurance to all its members, workers, or
students. It is important to read all the clauses in any insurance policy paper in order to be
fully aware of all the activities that are not covered under that policy before going for the
policy itself. The group personal accident insurance policy is very useful whenever a
group such as the family, a class of students on an excursion, or a group of friends want
to take insurance together to suit all their purposes and also to get it at a reduced rate.

It is always best to consult the insurance company, clear all doubts, and leave no table
unturned, or questions unanswered while availing such a scheme. A well informed
decision can save one a lot of stress at the lasting, o minute as to whether they will be
covered by the policy or not, at times of need.

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 CLAIMS PROCEDURE

Speed and easy access – They request you to register a claim through SMS <CLAIM> to
5667700 or a toll-free call on 1800-103-2292 which is available 24X7. It can also be
registered via e-mail: claims@bharti-axagi.co.in .

Please have the following information ready when you call the Call Center;

• Your contact number

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 • Your policy number

• Name of policy holder

• Date and time of loss

• Loss location

• Nature and extent of loss.

The above all information is automatically messaged to the claim officer, with in 24hr he
has contact you and collect all the information and documents which are required in
claim process. If the claim officer not report all this information to area manager with in
24hr the case is pass to the higher officer.

The claim process is settled in 15 days.

EDUCATION SECTOR IN INDORE

Home to a range of colleges and schools, Indore has a large student population and is an
educational centre. Most primary and secondary schools in Indore are affiliated with the
Central Board of Secondary Education (CBSE); however, a number of schools have
affiliation with ICSE board, NIOS board and the state level M.P. Board.

Devi Ahilya Vishwavidyalaya(DAVV), is the major & oldest university of Indore,

offering courses in more than 20 fields ranging from law to pharmacy to management at
both graduate and postgraduate level.

Mahatma Gandhi Memorial Medical College, one of the oldest medical college in
country offers varied range of courses in medical sciences.

Having both Indian Institute of Management and Indian Institute of Technology in Indore
making it the only city in the country to have both of these institutions.

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Indore colleges provide its students with a variety of options in the courses and the
degrees they can choose for their career. The education sector as in all other cities, in
Indore is also governed by private as well as government institutes and colleges.There are
colleges on Engineering, management, sciences, arts, communications and many other
professional fields, so that the students of the city do not have to take a toll of moving to
other cities for higher education. The city is well connected with all the major metros,
making it feasible for the students all across the country to register and study in the
colleges of Indore.

Good and quality educational institutions, helps in producing the cream of the society,
which further adds on to the country's development and fetching more fame and name to
the nation as a whole. Qualified students, which turn into efficient workers, are the dream
of any country. For this, the country has to ensure that every region and state of the
country is facilitated with high standard of educational institutions, schools and colleges.
The colleges and institutions all over India have tried to match with the global standards,
and instil its students with the factors required to compete in the global market.

Education in Indore is a good option for those who want to pursue value based
education in a convenient atmosphere. Indore, one of the prime cities of Madhya Pradesh
is the center of education and learning. This place abounding in historical richness is
home to many schools, colleges and universities. These educational institutions are
known to provide a well-rounded education to the students.

Some of the significant schools in Indore are Indore Public School, Delhi Public School
and the Kendriya Vidyalaya schools. These schools are mostly affiliated to CBSE or
ICSE board of education. These schools are equipped with excellent teaching staff that is
dedicated towards imparting quality education to the students. The daily College in
Indore is one of the most popular schools, which takes special pride in announcing that
the alumni council consists of some members of the royal families of India.

Indore is dotted with numerous colleges, which are mostly affiliated to the University of
Devi Ahilya Vishwa Vidyalaya. This is one of the premier universities of India that was
earlier known to be University of Indore. This university in Indore was founded in the
year 1964 and went on to become of the most prestigious universities of the country. The
university has provided affiliation to almost 123 colleges. These colleges and institutes in
Indore offer to the candidates a diversified choice of subjects. The university provides
PG, UG and doctoral studies in 16 different faculties. The university has also been
awarded a 5 star position from NAAC.

Some of the private educational institutions, which provide excellent training in

professional courses, are Indian Institute of Management, Govindram Institute of
Technology and Science, The Mahatma Gandhi Memorial Medical College, Institute of
Engineering and Technology. Education in Indore thus provides the pupils with the best

28
of education and prepares them to face the world where competition is soaring by the
day.

MY EXPERIENCE IN BHARTI AXA GENERAL INSURANCE

The objective of our project is to create awareness about the need of group personal
accidental insurance to the educational institutes of Indore.

To get the knowledge about how to directly deal with the customers, we had started with
shop plan (smart shop plan insurance policy) and office plan (office package plan). 4-5
days we all work upon these two policies in different markets.

In this exercise we observe that most of the shopkeepers are aware about the need of
insurance and insured their shop. We also observe that this type of product already in the
market. From this exercise we learn the following things;

• Degree of awareness of customers about the need of insurance.

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• How to deal with the customers?
• Who are the major competitors?
• How to aware them?
• Who is the reliable company for them?
• How to handle the queries of the customers?

In case of shop plan many customers entertain us, while in case of office plan rare
customers entertain.

After these two plans we have to move towards the educational Institutes for Group
Personal Accidental (GPA Policy) insurance policy for students, staff and sponsors.
Types of institutes which we covered in this exercise are schools, engineering colleges,
graduation colleges and Management colleges.

We experience different type of responses in different type of institute. Our project was
started in June, in this duration admission process is going on in the schools so they are
busy in that. The same problem is with B.Com. & B.Sc. colleges they are also busy in
admissions. The admin of the institute understand the need of that insurance policy and
co-operate us.

Most of the engineering colleges are out of the city, so the traveling distance is more risk
is also high for the students and staff. The directors of the engineering colleges show high
interest in this insurance policy and understand the need of insurance for the education
institute. We observe that R.G.P.V. Colleges are already insured their students and
charges are included in their admission fees. Government educational institutes also
insured their students.

In case of Management Colleges which are established in this year or last year are not
able to fulfill the requirement of this policy, due to less number of students in their
college. They also understand the need of our product.

With this GPA policy we are also approaches the girl’s hostels and coaching classes; in
hostels we had direct talk to students for GPA policy. The one major thing, fees structure
of all the education institutes is already decided therefore they are not able to add this
extra charge.

In mid of this exercise we also work on Group Mediclaim Policy with this policy targeted
the hospitals, here the customers are doctors so there are so many queries arises which is
difficult to handle for us, because the policy is best understand by them.

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 Conclusion

• Insurance sector in India, I can tell that this is the sector which has most business
opportunities perhaps in India.

• For Bharti Axa General Insurance Company has negative aspect is that it is new
in this sector.

• For private players the negative aspect is that they have to fight with the public
sector giants which are established players with a high brand value.

• But the positive impact is the general insurance awareness has increased and the
business of Bharti Axa General insurance Company has increased.

• Our project of GPA has great potential in the market, as we know the education
sector of Indore is so hug.

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• As far as the comparison of Bharti Axa General Insurance and other players is
concerned there are both positive as well as negative impacts on both the sides.

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