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Project Report on Kotak Mahindra Life Insurance - Customer Satisfaction


Kotak Mahindra Life Insurance :

Kotak Mahindra is one of India's leading financial institutions was born in 1985 as Kotak Capital Management Finance Limited. This company was promoted by Mr. Uday Kotak, Mr. Sidney A. A. Pinto and Kotak & Company. Industrialists Mr. Harish Mahindra and Mr. Anand Mahindra took a stake in 1986, and that's when the company changed its name to Kotak Mahindra Finance Limited.

It's been a steady and confident journey to growth and success.

Fig. Growth Trend of Kotak Group

Kotak Mahindra is one of India's leading financial institutions, offering complete financial solutions that encompass every sphere of life. From commercial banking, to stock broking, to mutual funds, to life insurance, to investment banking, the group caters to the financial needs of individuals and corporate.

The group has a net worth of over Rs. 2,500 crore, employs around 6,700 people in its various businesses and has a distribution network of branches, franchisees, representative offices and satellite offices across 250 cities and towns in India and offices in New York, London, Dubai and Mauritius. The Group services over 1.6 million customer accounts.


Some facts about Old Mutual Fund

  • Old Mutual was established more than 150 years ago and has developed into an International financial services group whose activities are focused on asset gathering and asset management. The Old Mutual Group offers a diverse range of financial services in three principal geographies: South Africa, the United States and the United Kingdom. The company is listed on the London Stock Exchange with a market capitalization of approximately $6 billion and is a member of the elite FTSE 100 index. In the 2003 rankings of the World's 500 largest corporations by Fortune magazine, Old Mutual climbed 87 places to position number 366 and was also listed as the 14th largest insurance company in the world
  • Old Mutual is the largest financial services business in South Africa, through its life insurance, asset management, banking and general insurance operations. The company serves 4 million life insurance policyholders and employs over 13 000 South Africans in its local operations.
  • In the USA, Old Mutual is one of the top ten fixed annuity businesses offering an array of specialist asset management skills through its 23 asset management businesses.
  • Operations in the United Kingdom are focused on wealth management, through Garrard as one of the leading private client stock broking businesses in the UK.
  • The Old Mutual Group has the ability to cater for a variety of consumer segments and offers a comprehensive and innovative range of products for all income groups.
  • Old Mutual has introduced innovative products in South Africa. It has vast experience customer service and superior training skills for life agents to get high productivity.


Group Companies of Kotak and International Subsidiaries

  • Kotak Mahindra Bank Ltd.
  • Kotak Mahindra Capital Company Ltd.
  • Kotak Mahindra Prime Ltd.
  • Kotak Securities Ltd.
  • Kotak Mahindra Asset Management Company

Kotak Mahindra Bank Ltd.

The Kotak Mahindra Group's flagship company, Kotak Mahindra Finance Ltd which was established in 1985, was converted into a bank - Kotak Mahindra Bank Ltd in March 2003 becoming the first Indian company to convert into a Bank. It's banking operations offers a central platform for customer relationships across the group's various businesses. The bank has a presence in the Commercial Vehicles, Retail Finance, Corporate Banking, Treasury and Housing Finance.

Head office address: 36/38A, Nariman Bhavan, 227, Nariman Point, Mumbai 400021, Tel no.: (022) 56581100,


Kotak Mahindra Capital Company Ltd.

  • Kotak Investment Banking* (KIB) is India's premier Investment Bank
  • Kotak Investment Banking (KIB) and Kotak Institutional Equities represent the securities business of the Kotak Mahindra Group **(KI),
  • Kotak Investment Bank is a full service Investment Bank bringing to its clients the global reach and the local knowledge and skills of Kotak Mahindra. As a full service Investment Bank, Kotak Investment Banking's core business areas include Equity Issuances, Mergers & Acquisitions, Advisory Services and Fixed Income Securities and Principal Business.
  • Its strength lies in understanding the clients' businesses backed by a strong research team and an extensive distribution network, which spans a wide variety of investors across the country. It is also the first Indian Investment Bank to be registered with the Securities & Futures Authority in the UK (through our wholly owned subsidiary) and the National Association of Securities and Dealers in the USA.
  • Its the first Indian Investment Bank to be appointed by the Government of India as a Co-lead Manager in their international divestment of Gas Authority of India Ltd through a GDR offering.
  • Kotak Investment Bank today well positioned in an increasing globalize environment to provide full service to its clients based either in India or overseas.

Head office address: Bakhtawar, 1st floor, 229, Nariman Point, Mumbai 400021, Tel no.: (022) 56341100, Website:

International Subsidiaries

Kotak Mahindra International Limited (KMIL) is the international arm of the Kotak Mahindra Group and was incorporated in 1994 in Mauritius, with a branch in Dubai. Today the international operations also cover the United Kingdom, through Kotak Mahindra U.K. Limited and in the USA, through Kotak Mahindra Inc. USA. These companies are subsidiaries of Kotak Mahindra Capital Company (KMCC) the Investment Banking Division of the Group. Services offered include GDR and ADR trading and broking, debt syndication, placement of Indian securities and advisory services. Kotak Mahindra was the first Indian group to be registered with the Securities and Futures Authority, U.K. Also, Kotak Mahindra is the first Indian group registered in the US providing service to both Institutional investors and High Net worth Clients in the US for their investments into Indian markets.


Kotak life insurance old mutual fund is the joint venture of Kotak Mahindra and Mutual fund with a ratio of 76:24.kotak Mahindra is in Indian companies running by Mr. Uday Kotak and old Mutual Fund is a South Africa based company. Now company has various advantages over its competitor.

  • Well trained and quality advisors
  • Consultative selling process
  • Complete product range
  • High technology support
  • Superior customer service
  • To be achieved through

As shown in the company profile company is growing at a rapid rate. The growth of company can be seen with the help of these points.

  • 65 Branches in 40 cities and going to open 20 new branches in different states.
  • 10000 + Life Advisors
  • 1500 + Employees
  • Ranks 2nd in terms of Average Premium per Policy
  • Ranks 4th in Total Advertising Awareness

Company has various plans for its customer as per the need of its customer. It has individual plans, group plans and other many more plans with very low premium to attract its customer from its competitive companies. The plans of Kotak life insurance old mutual fund is:


For Individuals

  • Kotak Term Plan
  • Kotak Preferred Term Plan
  • Kotak Money Back Plan
  • Kotak Child Advantage Plan
  • Kotak Endowment Plan
  • Kotak Capital Multiplier Plan
  • Kotak Retirement Income Plan
  • Kotak Retirement Income Plan (unit linked)
  • Kotak Safe Investment Plan II
  • Kotak Flexi Plan
  • Kotak Easy Growth Plan
  • Kotak Premium Return Plan

For Group

  • Employee Benefit
  • Kotak Term Group Plan
  • Kotak Credit Term Plan
  • Kotak Complete Cover Group Plan
  • Kotak Superannuation Group Plan

Above shown are the various plans of Kotak life insurance old mutual fund. But the major plans of company are Kotak Headstart child plan, Kotak safe investment plan-II, Kotak Flexi plan, and Kotak Easy growth plan. In these plans there is various funds which are performing in better way and giving the better return to its customers.


ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank, a premier financial powerhouse, and Prudential plc, a leading international financial services group headquartered in the United Kingdom. ICICI Prudential was amongst the first private sector insurance companies to begin operations in December 2000 after receiving approval from Insurance Regulatory Development Authority (IRDA).

ICICI Prudential is also the only private life insurer in India to receive a National Insurer

Financial Strength rating of AAA (Ind) from Fitch ratings. The AAA (Ind) rating is the highest rating, and is a clear assurance of ICICI Prudential's ability to meet its obligations to customers at the time of maturity or claims.

For the past six years, ICICI Prudential has retained its position as the No. 1 private life insurer in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life.

ICICI Prudential has one of the largest distribution networks amongst private life insurers in India. It has a strong presence across India with over 680 branches and over 235,000 advisors.

The company has over 23 bancassurnace partners, having tie-ups with ICICI Bank, Federal Bank, South Indian Bank, Bank of India, Lord Krishna Bank, Idukki District Co-operative Bank, Jalgaon Peoples Co-operative Bank, Shamrao Vithal Co-op Bank, Ernakulam Bank, 9 Bank of India sponsored Regional Rural Banks (RRBs), Sangli Urban Co-operative Bank, Baramati Co-operative Bank, Ballia Kshetriya Gramin Bank, The Haryana State Co-operative Bank and Imphal Urban Cooperative Bank Limited


Insurance Solutions for Individuals

ICICI Prudential Life Insurance offers a range of innovative, customer-centric products that meet the needs of customers at every life stage. Its products can be enhanced with up to 4 riders, to create a customized solution for each policyholder.

Savings & Wealth Creation Solutions :


  • CashBak
  • LifeTime Super & LifeTime Plus
  • LifeLink Super
  • Premier Life Gold
  • InvestShield Life New
  • InvestShield Cashbak

Protection Solutions:

  • LifeGuard
  • HomeAssure

Education insurance plans

  • SmartKid

Retirement Solutions:

  • ForeverLife
  • LifeTime Super Pension
  • LifeLink Super Pension
  • Immediate Annuity

Health Solutions:

  • Health Assure and Health Assure Plus
  • Cancer Care
  • Diabetes Care
  • Hospital Care
  • Crisis Cover

Group Insurance Solutions:

  • Group Gratuity Plan
  • Group Superannuation Plan
  • Group Immediate Annuities
  • Group Term Plan

These are the various plans given by the ICICI Pru. to its customers. These plans are performing under various funds which are operated by expert fund managers



HDFC Standard Life Insurance Company Ltd. is one of India's leading private insurance companies, which offers a range of individual and group insurance solutions. It is a joint venture between Housing Development Finance Corporation Limited (HDFC Ltd.), India's leading housing finance institution and a Group Company of the Standard Life, UK. HDFC as on March 31, 2007 holds 81.9 per cent of equity in the joint venture.

Key strengths : Financial Expertise

As a joint venture of leading financial services groups, HDFC Standard Life has the financial expertise required to manage your long-term investments safely and efficiently.

Range of Solutions : HDFC have a range of individual and group solutions, which can be easily customised to specific needs. Our group solutions have been designed to offer you complete flexibility combined with a low charging structure.

Track Record so far


  • HDFC Unit Linked Endowment,
  • HDFC Unit Linked Endowment Plus,
  • HDFC Unit Linked Young Star,
  • HDFC Unit Linked Young Star Plus,
  • HDFC Unit Linked Endowment Suvidha,
  • HDFC Unit Linked Endowment Suvidha Plus,
  • HDFC Unit Linked Young Star Suvidha,
  • HDFC Unit Linked Young Star Suvidha Plus,
  • HDFC Group Unit Linked Plan
  • HDFC Unit Linked Pension,
  • HDFC Unit Linked Pension Plus
  • HDFC Group Unit Linked Plan - for Defined Contribution Superannuation Schemes
  • HDFC Group Unit Linked Plan

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