“Potential of Life Insurance Industry in Surat Market”.

TABLE OF CONTENTS
Contents Page No.
Acknowledgements 5
List of Tables 6
List of Illustrations/Diagrams 7
Executive Summary 9
Chapter 1: introduction 10
 Objective 15
 Limitation 17
 Research Mythology 19
 Data Collection 22
Chapter 2: Life Insurance Industry 23
 Industry profile 24
 important milestones in the life insurance business 29
 Insurance sector reforms 31
 IRDA 32
Chapter 3: Contribution of Life Insurance Industry 36
 Contribution of Life Insurance in the Economy 36
 Flow of Insurance Industry in India 37
 Structure of life Insurance Industry 40
 Life Insurance industry 41
 Aggregation of Long Term Savings 42
 Spread of financial services in rural Areas 43
 Long term funds for infrastructure Development of Capital Markets/Economic Growth 44
 Employment generation 45
 Special Features 46
 Growth Potential 47
 Phase of transition 47
Chapter 4:Company Profile 49
 Management 51
 Area of Business 56
 KMOM progress till date 65
 KMOM-the partnership and Lineage 66
 Products 69
 Hierarchy of KMOM of Surat branch 71
Chapter 5: Survey 72
 Data interpretation , editing and coding 73
 Graph analysis 73
Chapter 6: Finding and Suggestion 83
Chapter 7: Conclusion 84
Chapter 8: References 85
Chapter 9: Annexure 86

Chapter 1:

 Introduction

Executive Summary

The service industry is one of the fastest growing sectors in India today. The upcoming sectors which are really showing the graph towards upwards are - Telecom, Banking, and Insurance. These sectors really have a lot of responsibility towards the economy.

Amongst the above-mentioned areas insurance is one sector, which took a lot of time in positioning itself. The insurance business of non-life companies was not much in problems but the major problem was with life insurance. Life Insurance Corporation of India had monopoly for more than 45 years, but the picture then was completely