Project Report on

Current market scenario & potential vis--vis channel mix for non-motor retail products of Future Generali

Submitted to :

Submitted By : Prashant Kumar Chauhan Enrollment No. : 02215603910 MBA-A

Summer Project Certificate

This is to certify that Mr. / Ms. _____________________ Roll No. _________ a student of MBA has worked on a summer project titled Future Generali Current market in partial scenario & potential vis--vis channel mix for non-motor retail products of at ______________________ after semester-II fulfillment of the requirement for the MBA programme. This is his/her original work to the best of my knowledge.

Date: ___________

Signature ________________ NAME OF FACULTY

Declaration
To whomsoever it may concern
This is to certify that Mr Prashant Kumar Chauhan student of MBA (2010-2012) Northern India Engg.College , GGSIPU has done his live Summer Internship project under my guidance and supervision from 8th June 2011 to 30th July 2011. He has completed the project titled Current market scenario & potential vis--vis channel mix for non-motor retail products of Future Generali towards the fulfillment of MBA under my supervision. During his project he was found to be dedicated, sincere and attentive to small details whatsoever told to him. I wish him luck and success in future!

Mr. Amarjit Singh Saini, Sr.Manager-L&D- North, Future Generali India Insurance Co. Ltd

Acknowledgment
My Project work with Future Generali as a summer trainee has been a great learning experience. It added a great value to my overall knowledge, thinking ability and personality as a whole. I was exposed to the real market and gained first hand invaluable experience in the insurance industry. I would like to bestow my gratitude to all who helped me during the course of the project for their inspiring guidance and kind advice throughout the project work. I am highly thankful to the whole team of Future Generali India Insurance Co. Ltd., zonal office, New Delhi for providing me with the opportunity and facility of learning in their organization. I would like to extend my deep gratitude to my industry guide and mentor Mr. Amarjit Singh Saini, Sr.Manager-L&D- North, Future Generali India Insurance Co. Ltd. for his assistance and useful comments. I would also like to extend my special thanks to Mr. Himanshu Sharma, Deputy Manager,Operations for his support, cooperation and guidance while making me understand the operations department functioning.
I would like to thank of Northern India Engg.College , GGSIPU who agreed to be my Faculty guide for her caring and supportive attitude and assistance throughout the internship in preparing this report. She has been a constant source of knowledge, information, help

and motivation for me throughout this project. Finally, I would also like to thank my parents and all my dear friends for their kind cooperation, advice and encouragement during the long and arduous task of preparing this report and carrying out the project

Table of contents
Chapter no. 1 2 3 4 5 6 7 8 9 10 11 12 12.1 12.2 12.3 13 14 15 Topic Title page Summer project certificate Declaration by Industry mentor Acknowledgment Table of contents Executive summary Company profile Introduction Review of literature Statement of Problem RESEARCH METHODOLOGY Analysis and Results Analysis of survey done on common public Analysis of survey done on intermediaries Comparative analysis of products offered by various insurance companies Conclusion and recommendations References Appendix Page no. 1 2 3 4 5 6 7 8-10 11 12 13 14-42 14-32 33-38 39-42 43-45 46 47-50

Executive summary
The given topic Current market scenario & potential vis--vis channel mix for non-motor retail products of Future Generali basically tries to cover the non-motor retail market which majorly includes health insurance and personal accident insurance market. The scope of non-motor retail business insurance products like the health & personal accident insurance plans is a very wide topic and requires very detailed study of the current market scenario and future possibilities. The major emphasis in this project research is given on health insurance business and its scope. The project required a three way research approach for understanding the current market scenario of the health insurance business

To understand the perspective of the public and check their knowledges about health insurance. This was done through a research conducted in many locations in Delhi-NCR. To understand the perspective and thinking of the selling channels/ intermediaries like agents and brokers regarding health insurance business in Delhi-NCR. To study the approach of various other established general insurance companies in India, and then relate their approach with the approach taken by Future Generali.

The major findings of the research were as follows

Current market scenario of health insurance and personal accident business The majority of the common public doesnt have any idea about what is health insurance. Many of them think its same as life insurance business.
Many of the respondents think that health insurance cover should be taken only

one gets old in age or is seriously ill. People think motor insurance is enough and they do not need P.A cover.

Scope for Future Generali in non motor retail business Future Generali has very less number of health insurance & P.A products and thus

need to launch more products.

 Current products of the companies lack added benefits; this is the area where other insurance companies are gaining. If company adds more features to its current product then there is as chance of better market share.

Approach of selling channels/intermediaries Agents still follow old and established methods for identifying new clients, and do not put in much effort in making the public understand the importance of health insurance Other channels like brokers are now using modern techniques like internet advertising, telephone calling etc to approach customers and try to persuade big clients for group health cover.

Company profile
Future Generali is a joint venture between the India-based Future Group and the Italy-based Generali. Future Generali is present in India in both the Life and Non-Life businesses as Future Generali India Life Insurance Co. Ltd. and Future Generali India Insurance Co. Ltd. Future Group: Future Group, led by its founder and Group CEO, Mr. Kishore Biyani, is one of Indias leading business houses with multiple businesses spanning across the consumption space. While retail forms the core business activity of Future Group, group subsidiaries are present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics. Led by its flagship enterprise, Pantaloon Retail, the group operates over 12 million square feet of retail space in 71 cities and towns and 65 rural locations across India. Headquartered in Mumbai (Bombay), Pantaloon Retail employs around 30,000 people and is listed on the Indian stock exchanges. The company follows a multi-format retail strategy that captures almost the entire consumption basket of Indian customers. In the lifestyle segment, the group operates Pantaloons, a fashion retail chain and Central, a chain of seamless malls. In the value segment, its marquee brand, Big Bazaar is a hypermarket format that combines the look, touch and feel of Indian bazaars with the choice and convenience of modern retail. Other group companies include, Future Generali, the groups insurance venture in partnership with Italys Generali Group, Future Brands, a brand development and IPR company, Future Logistics, providing logistics and distribution solutions to group companies and business partners and Future Media, a retail media initiative. Through its partner company, Blue Foods the group operates around 100 restaurants and food courts through brands like Bombay Blues, Spaghetti Kitchen, Noodle Bar, The Spoon, Copper Chimney and Gelato.

THE GENERALI GROUP The Generali Group is a leading player in the global insurance and financial markets. Established in Trieste in 1831, today the Group is one of Europes largest insurance providers and also is Europes biggest Life insurer. It is also one of the worlds top asset managers with assets totaling more than 400 billion. With an employed sales force of more than 100,000 people serving 70 million clients in 68 countries, the Group occupies a leadership position in Western Europe and an increasingly important place in Eastern Europe and Asia. The Group strategy aims to consolidate Generalis pre-eminence on its key markets and achieve a premier position on markets with high growth potential, establishing its leadership in profitability.

Introduction
A country like India, where the population is approx 120 crores, and a major part of the population lives in rural areas. It is no hidden secret that of this rural population the majority is deprived of health facilities, and the basic reason for this is less number of hospitals in rural areas and also low income of the people living in rural areas which does not allows them to get medical treatment in urban areas. According to National Council of Applied Economic Research (NCAER), health insurance penetration in India stands at a dismal 1.2 percent So its very clear that every household in India needs a health insurance cover. One question which arises is that it has been 64 years since independence yet people of India are not much aware about the importance of health insurance in their life. Let us look at the following factors which provide an indication about opportunities in India as

As we can see that India bears 21% of the global disease burden, so it is very clear that if properly implemented India can become one of the biggest market for health insurance products. It also becomes very clear that the PSU although they hold a very strong part of the current available health insurance market have not fared that well as they should have considering the fact that they are in the market for such a long time.

And this fact becomes even more amusing when the same council also disclosed that annual household expenditure on medical facilities in India is 6.7% of their annual income.

We can notice one thing that India shares only 2% of the world land but accommodates about 21 % of the world population on this land, this also makes us think that the population of India thus is very vulnerable to various kinds of dangerous diseases.

Land area Burden of disease (%) Population Urban : Rural Literacy rate (%) Sanitation (%) Safe drinking water supply (%) Poverty (%) Poverty line (Rs.)

2% of world area 21% of global disease burden 16% of world population 28:72 65.38 Rural 9.0; Urban 49.3 Rural 98; Urban 90.2 Below poverty line 26 Rural 27.09; Urban 23.62 Rural 327.56; Urban 454.11

If we go towards the data for literacy rate, it is 65.38%of the overall population, thus about 35% of the population is still illiterate or better say uneducated, thus they wont be able to understand the importance of health and health insurance. This particular section of the society thus needs to be made aware and it is a big untapped market for insurance companies to crack down to them and make them aware regarding health insurance cover.

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We can also see that only 9%of the rural population is getting proper sanitation facilities. What does this mean?? This means that 91% of the rural population is living without proper sanitation facilities. It also indicates that they are very highly vulnerable to diseases like malaria, dengue, plague etc, which are the result of poor sanitation and cleanliness facilities. Thus we can clearly see that a major population is under the danger of getting attacked by various kinds of diseases. In fact they are getting attacked by various diseases due to this reason only.

One of the data also reveals that 98% of the rural population is getting safe drinking water, whereas only 90.2 % of the urban population is getting safe drinking water. Since safe drinking water is the basic requirement for a good health, it once again makes us think that about 10% of the urban population is not getting proper water to drink and thus they are vulnerable to various kinds of diseases.

One of the sad facts the above table reveals is that about 26% of the population in India is living below poverty line and cannot afford proper food or living conditions. It is this section of the society which faces the majority of attack by various diseases and do not get any proper health care facilities due to their inability to afford good hospitals. This section if we talk about in numbers ranges to about 30 crores in population.

If about 30 crore people are living vulnerable to diseases just because they do not have sufficient money to afford good hospitals, we can very well assume what are the scope of health insurance companies to provide health insurance companies.

We can also see that poverty line limit is Rs 327 in rural and Rs454 in urban areas, which accounts for near about $7 in rural areas and $9 in urban areas. Thus we can see the poverty line limit is really very very low, so even if someone is said to be above poverty line, it does not mean that he is having a very good income and can afford proper healthcare facilities by him.

When the survey was being conducted major response did not come from people who had cover from any PSU, the following chart will make clear what the response of people was when they were asked about the company from which they had taken health insurance cover.
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So by studying the above table, we can very well understand the fact that health care needs and requirement of a good health policy for everyone is a huge necessity in India today and there is ample opportunity for this business to make a mark and also serve the society. The government needs o study the above figures, so that they can accordingly design health care facilities and insurance cover for the major section of the society.

Review of literature
Healthcare in India The majority of the Indian population is unable to access high quality healthcare provided by private players as a result of high costs. Many are now looking towards insurance companies for providing alternative financing options so that they too may seek better quality healthcare. The opportunity remains huge for insurance providers entering into the Indian healthcare market since 75% of expenditure on healthcare in India is still being met by out-of-pocket consumers. Even though less than 8% of the Indian population today has health insurance coverage, this industry is expected to face tremendous growth over the next few years as a result of several private players that have entered into the market. Health insurance coverage among urban, middle- and upper-class Indians, however, is significantly higher and stands at approximately 50% The per capita total expenditure on health in India is US$ 23, of which the per capita Government expenditure on health is US$ 4. Hence, it is seen that the total health expenditure is around 5% of GDP, with
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breakdown of public expenditure (0.9%); private expenditure (4.0%)

Commission on Macroeconomic and Health insurance in India (WHO India) a) Reasons for poor penetration of health insurance: Lack of regulations and control on provider behavior Unaffordable premiums and high claim ratios Reluctance of the health insurance companies to promote their products and lack of innovation Too many exclusions and administrative procedures Inadequate supply of services Co-variate risks

b) During 1994, 4.4% of the insured persons made a claim, of which only 75% of claims

were settled. The claims ratio was 45%. However, of late, the claims ratio is growing at a fast rate, allegedly because of collusion between the patients, insurance agents and hospitals

Statement of Problem
Current market scenario & potential vis--vis channel mix for non-motor retail products of Future Generali.

Explanation of the importance of the Problem

Health is the most important factor for any persons life. How fit a person is being determined by his/her lifestyle. Today our country is getting under the danger of various types of diseases which are occurring just because the lifestyle of people is not proper. The majority of the rural India is not having proper sanitation facilities; which cause dangerous diseases.
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A big population of the urban India is facing various diseases just because of a tough daily working routine. So the role of an insurance company becomes very important in this situation. A common person cannot easily avail the facility of a good hospital if he/she wants to cure for a dangerous or deadly disease, but if the same person has a health insurance cover, the insurance company will pay for his/her medical expenses. To understand the market properly the insurance companies need to study what exactly are the expectations of public regarding health insurance. They need to study the market by studying the activities and strategies of rival insurance companies and regulations of the government. They also need to check how the role of distribution channels affects in bringing business for any insurance company.

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RESEARCH METHODOLOGY
PRIMARY RESEARCH

Primary research included observations and interviews. The method adopted for the research was Exploratory Research followed by the descriptive research as the main aim was to get an insight of the problems faced by hospitals as well as the below poverty line people. The steps involved in the surveys are as follows: Designing the Questionnaire Deciding the Sample size Collection of data Classification and tabulation of data

SECONDARY RESEARCH Secondary research included the details provided by the company regarding the current health insurance plans and market strength. It also included policy wordings of various other general insurance companies. Data regarding current situation and scope of health insurance in India was also collected from various journals available on the internet

DATA ANALYSIS The data provided and collected was processed, classified and fitted into charts and tables to make findings more meaningful. On the basis of these data, relevant conclusions and inferences were drawn and the results were interpreted objectively.

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Analysis and Results

The 1st part of the analysis reflects the results of a survey done on the common public, the survey was done to study the understanding of the common public regarding health insurance industry.

Out of the total sample surveyed how many respondents were insured? During the survey, 210 responses were collected, and the result is as follows

Delhi Ghaziabad greater noida Gurgaon Noida Sahibabad Grand Total

80 14 34 2 76 4 210

80 people said they were covered under some sort of health cover, which made nearly 38 % of the overall respondents. 130 people said NO they were not covered under health insurance.

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Location of the surveys which were conductedThe following figure will provide the detail of the bifurcation regarding the different locations used during the survey

The data was collected in urban areas like Noida, greater noida, Ghaziabad, Gurgaon, and New Delhi. Major locations for survey in Delhi were Laxmi nagar, South extension, Old delhi, lajpat nagar etc

Delhi contributed for maximum of the respondents with nearly 38% of overall response. 36% of the data was collected from areas of noida, which included, sector-18 of noida, atta, sector 33, sector 63. Greater noida contributed for about 16% data. Ghaziabad also provided for about 7% of the overall data collected.

Since the project aims at understanding the scope of health insurance business in Delhi-NCR, so the effort was primarily put to make sure that data is collected from the major locations of DelhiNCR. Locations were chosen with great care, as the research needed to make sure that the results reflect the true picture of Delhi-NCR.

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The data collected represents a population majority of which is educated, so it becomes a concern that out of a lot of educated public only 38% is under health or personal accident insurance cover. Age group of the respondents-

Age group of the respondents surveyed was between 19 years to 62 years. As we can see the majority of the response came from a public of a very young age.
More than 25 responses came from the age group of 22 years. Age group 24 provided about 22 responses. And thus became 2nd most contributing age

group. When the survey was conducted the basic problems faced were as follows: 1) People were not very supportive in providing reply to the questionnaire 2) People often felt that I was from some insurance company and was trying to sell a health insurance policy to them 3) They were thinking that if they will provide information , then it might happen that their personal earning might get disclosed and it might lead them in trouble, so they were not willing to reply

Now the question arises why people were behaving in such manner?
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It may be a case that people are not very enthusiastic regarding insurance. Or it may be because people do not want to discuss money related matters in a survey kind of thing. They might feel insecure discussing their personal matters. Many people felt that it might be attempt o sell insurance to them and thus avoided being interviewed. But its not like doing the survey was only a hard job, it also gave out some positive viewpoints attached with it Many people were ready to share data and were also very keen to understand why exactly this survey was being conducted, on whose behalf it was being conducted. Many people tried to understand importance of health insurance in case they were a bit unaware about it. Thus we can say that this survey had a positive picture to it as well. Now if we take a look at the current market share of health insurance business by various companies we get the following figure ( data source IRDA, updated till march 2011) Royal Sundaram TATA-AIG Reliance IFFCO Tokio ICICI Lombard Bajaj Allianz HDFC ERGO Cholamandalam Future Generali Universal Sompo Shriram Bharti Axa Raheja QBE* SBI L&T New India National United India Oriental Star Health & Allied Insurance Apollo MUNICH Max BUPA
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155.98 110.72 254.28 176.88 1,341.94 339.49 328.73 148.07 105.34 23.49 0.00 52.34 0.00 0.12 0.00 1,993.96 1,572.39 1,681.47 1,330.82 1,232.44 270.82 25.70 Market sharing in health insurance (As per IRDA)

So we can see that as per the data provided by IRDA, all the PSUs are covering up a major share of the current health insurance market with NEW INDIA leading with a 18% market share, whereas NATIONAL, UNITED INDIA, & ORIENTAL following the league.

If we talk about private players ICICI Lombard is having a share of 12% market Stand alone health insurance company Star health is having 11% market share. Bajaj is having a market share of 3%, HDFC ERGO also has 3% market share. Iffco tokio is having a market share of 2%. Appolo Munich and Reliance also are having 2 % market share in the health insurance sector. Cholamandalam is having a market share of 1% and same is of Future Generali.

If the current market scenario is to be believed then we can very well see that right now , health insurance is capture of government supported or better say PSU companies. The exact reason

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behind all this is very tough to assume. But the other factors which are for sure contributing to the success of PSUs may be as follows: More faith in the mind of people since they are older in the business Since these companies are government backed , thus their success rate is higher They gained the majority of market before the market was opened for private players and thus they are still enjoying it Lack of efforts from many private players except for a few companies.

Market sharing of various companies in health insurance industry (as per the survey conducted on the public)

As we can see ICICI Lombard is having the maximum market share. It is controlling nearly 25 % of the market (as per the survey conducted). And the 2nd company in the list is Cholamandalam MS. It is also clear from the given pie chart that future generali is not at all in the frame and thus it becomes very clear that the company needs to revamp its market strategies to make an impact and crack some good market share in the health insurance sector.

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Again, it needs to be mentioned that the survey was conducted in urban areas, and as the table 2 was also suggesting that the majority of Indian population lives in rural areas, so the major opportunities for insurance companies lies in rural areas. Description of various channels used for distributionThe insurance industry runs on the shoulders of various types of intermediaries or distribution channels which bring the business for the companies by contacting the prospective clients and providing them with an insurance policy on behalf of the companies. Distribution channel is the life blood of insurance business. Insurance distribution is strewn with opportunities and challenges The health insurance industry majorly has the following types of distribution channels/intermediaries1) Agency 2) Brokers 3) Bancassurance 4) Direct purchasing

Agency Channel- For decades, agency was the only distribution channel for insurance in India. Even today almost 80% of business is carried through agency channel. This channel has got the following merits Through agency, personal contact and relationship can be established with the customer. Agents usually enjoy personal credibility with customers. Agents provide various presales and post sales services to customers. It involves no capital investment This channels awareness and acceptability is maximum among people Cross selling is possible through this channel Due to personal contact, it can provide valuable feedback about the need and expectations of consumers.

Brokers channel- The selling of insurance policies in India was majorly done by agents only till recently. But the recent developments have seen growth of the brokers channel in distribution of insurance policies. Brokers might be a person or a company which acts as an intermediary between the insurance company and the client. It represents the clients rather than the insurance company. This is the major point of difference between the agent and the broker. A
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broker represents or acts on behalf of the insurance industry whereas the broker represents the clients.

Requirements of Capital for a brokerit shall have a minimum amount of capital as mentioned below:
Direct broker: Rs 50 Lakhs Reinsurance broker: Rs 200 Lakhs Composite broker: Rs 250 Lakhs

This channel has got the following merits Acts on behalf of the clients and provides him with the best options available amongst various insurance companies Since a person or company needs to have a big financial capital to become a broker thus it becomes a better option in terms of services These are capable of converting group insurance prospective clients into permanent clients Brokers use modern day technology in their day to day work

Bancassurance channel- it is offering a seamless service of banking, life & non-life products. India, being the one of the most populous country in the world with a huge potential for insurance companies, has an envious chain of bank branches as the lifeline of its financial system. Banks try to persuade its customers to purchase the policies of the insurance company with which it has made a tie up. This channel has following merits Banks have a wide network all over the nation and thus this channel can become the backbone of insurance industry Banks make a personal attachment with its customers thus the customers also believe in the insurance company whose product they are being offered by the bank. It is easier for the insurance company to launch and make an impact regarding any particular product if it uses the channel of banks.

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Direct- This is a medium which is becoming popular now day by day. People tend to go directly to the company and purchase a product they need, in fact now they dont even go to the companys offices; they simply buy the product online.

Why dont people have a health insurance cover? When this question was asked to people various people gave different kind of answers. Some of them are as follows: I already have a life insurance cover I am a student, I dont require it I am unaware about health insurance I never felt the need of these products I dont have much earning It is of no use to me My earning is too low, so I cannot afford it I am not able to chart out time to buy insurance

Now if we look at the above stated reasons we can surely feel that basically it leads towards lack of awareness in the common public regarding importance of health insurance. They do not feel that it is of any use to them. The provide excuses like they already have a life insurance cover, they are very young and do not require any kind of insurance. Many people also clearly stated that they are unaware about health insurance. Some of them felt that health insurance is of no use to them.

When we thoroughly study the reasons stated, we can trace out the basic reason which led to these provided excuses by the public is the lack of awareness regarding the importance of health insurance. Not only they think that health insurance is of no use to them, they even consider ass

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a waste of money. This makes us think not only people are unaware about the importance of health insurance but many of them are against it.

Some of the respondents stated that their income was too low and thus they cannot think of buying any health insurance product for them of their family. This point again raises the issue that people are not aware about various kinds of health insurance products available in the market. Since health insurance products are designed for different kind of families with varying income groups, so it cannot be an excuse that since income is low one cannot afford health cover through insurance. Basically it is the lack of awareness which is prohibiting the people from buying health insurance policies. Thus the target of insurance companies and the government should be to make them aware about its importance and make them understand how it is going to help them in future. When people who were not having health insurance covered, were asked the question if they will buy an insurance product in future? The following result arrived

48% of the above respondents said - no they will not buy a health insurance in future. And they did not feel its need. They provided reasons like its waste of money, they have no idea about these stuffs so cant invest money in it, some also said that they were very fit and were not having any diseases so they were not willing to invest in health insurance in future as well. 45% of the respondents said that Yes they will buy a health insurance policy in future very soon.

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Many of the respondents were of the view that earlier they had a health insurance cover but they did not renew it , neither will they go for a new policy in future and the reason they stated for it was that when they had the policy they could not get benefited by it i.e they were not hospitalized and thus the money that they invested as a premium for the health policy was not utilized. So they were of the view that its better to invest money in some kind of security or share market, as it will give them a sure shot profit for the amount invested.

The public is more concerned by the profit attached with the insurance policy rather than the real requirement of it. Thus it becomes very clear that even if someone is buying a health insurance policy then it is not necessary that he/she is buying because he feels he should buy it for his/her individual/ familys safety but because he wants to earn or save money through it.

So a big question arises on the approach or mindset of the public when the topic of health insurance and its needs is taken up. For a healthy and fit society a proper health insurance facility to each citizen is a must, and for making this thing develop in a society like India where the approach of the public regarding insurance is very weird, it becomes the duty of the government and the insurance companies to make people aware about the importance of health insurance.

When people who were having a health insurance cover were asked what type of cover they have taken? The following result arrived-

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As we can see that the above chart clearly states that the majority of public who were insured were covered under group policies. About 30% public were insured under individual sum insured basis plans About 20 % people were covered under floater policies. About 50%of the people said that they had insurance cover for their healthcare needs were covered under group policies

The reasons behind such big response in favor of group plicies can be that those people are working in some kind of organization or company who has provided them health cover. Another reason can be that people who replied were covered under some kind of health insurance policy which was taken by the organization or institute whose part they were.

The fact that about 50%of health insurance is of group policy also makes one think that people by themselves are not much aware about health insurance, its just that their organization/company is providing them cover thus they are insured.

Now if we see the chart again, we will find that about 30%of the public who said they had insurance cover for their health needs were insured under individual plans. Thus it becomes evident that individual plans are the most sought plans after group insurance schemes. The individual plans were majorly taken by public whose age group was between 35-45. This also indicates that once a person gets older he/she becomes more aware regarding his/her insurance needs. Also the individual plans getting a share of 30% indicate that people are more attracted towards individual plans rather than family floater plans.

With a share of about 20% family floater plans also marked its space in the products available in the market. Family floater plans are basically purchased by people who are concerned about insuring whole of the family within a single policy.

Its also purchased by people who live in joint family system and wish to cover every member of their family by a health insurance plan so that in future whenever there is a requirement of healthcare needs, they do not face any kind of problems and the insurance company takes care of
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their needs. Also the premium is a factor, if a person takes an individual plan he pays premium which covers only him, but if a person takes a family plan, it charges a bit higher premium but in reward it covers every member of the family thus saving the pocket of the person on time of crisis or need. This is the reason why a person goes for a health cover which is meant for his/her family.

Although there are other types of plans available in the market, but none of the respondents had any kind of idea regarding them. This again made a point that people are not aware regarding health insurance sector. People were willing and also discussed only about the above mentioned 3 plans i.e group policies, individual and family floater plans.

One can clearly understand the current market scenario which is prevalent at the moment in the health insurance sector. When one sees the above chart and sees that the group policies are the most sold policies in the market, it becomes clear that individuals are not much aware about the health insurance sector and its importance. Even if one can see 50% of the market captured by group policies, it does not mean that every individual who is working in some organization is covered with health insurance. The group polices also form a very very small section of the working population. Thus we cannot say that group policies are doing a very big contribution. It is just that other health policies are doing even poorer than the group policies, thus one gets an impression that group plans are doing good.

When people were asked that via which channel have they purchased the policy? The following result arrived-

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As we can see that as expected by common sense as well Agents form the most successful channel via which people purchase policy in fact health policies to be precise. They constitute about 40% of the overall channels. It means that a major section of the society still goes to agents whenever they need to purchase a policy.

Agents provide services on a very personal basis, which is also a reason why they are the most successful channel for selling insurance. Although agents have been the face of the frame for a long period of time now, but we can see that many people have got their policies from other type of channels also. About 13% people have got their insurance cover from the way of the company or organization in which they are working. So we can say now organizations are also becoming a link between the insurance companies and a person. Since the person is working in an organization thus it is the duty of that organization to take care of the health needs of its employees and his/her family.

One positive picture is the 26%of people saying they have got insurance cover via their college or institute in which they are working. Since noida and greater noida is a location where many students live (as the location is full of colleges), when they were interviewed regarding their insurance providing channel, they said they had got cover from their college. Although they had no idea about the channel via which the college had purchased the policy. Still if we see it overall we can say that colleges providing health insurance to its students is a good sign.
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We can see that a small percentage is also buying health insurance business through brokers. Although this might be because it was a personal interview survey, so individuals generally do not go for purchasing their policies through brokers. Brokers generally make business by cracking deals in the corporate sector. So if we go for a detailed survey we might find that brokers are bringing business for institutes and corporate offices that are willing to buy insurance policies for their employees/students. Since brokers is a big part of insurance world today, we cannot undermine their contribution in bringing business and thus we should consider the majority of the companies/colleges part of insurance business being brought by brokers only.

If we have a look at the chart we can see that about 13% of the respondents had purchased their insurance policy directly from the company. Now this is an interesting figure. About 13 % people going for a direct purchase. It shows that this 13%of the lot are a bit more understanding about the insurance business that is why they decided to purchase the policy themselves rather than going through some channel or intermediaries. This is also indicative of the changes coming in the society nowadays. People are becoming self cautious regarding important matters like insurance and health coverage. People are buying insurance policies either going directly into company offices or by purchasing through internet and making an online payment thus avoiding the part of office going completely.

Although the survey provides a look about how people are buying insurance these days, but it is a matter of thinking about how much scope each of the intermediaries/channels have for them. Truly speaking, the insurance sector is so huge that there is more than enough scope for every channel to not only survive but also prosper their business easily. They just need to understand and focus on their target customers.

It becomes a bit challenging for every channel if the space and target customer base for competition is very small, but if the target customer base becomes enormous then their would be ample opportunity for every channel to develop and enjoy big business and profits.

After talking about the existence and survival strategies for so many channels in the insurance sector, it also becomes interesting to know how many of the people who have purchased insurance policy are happy with the services provided by the channel or intermediary via which they have purchased the policy.
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Let us look at the following data which gives us an idea about the response of people when they were asked if they were satisfied with the current services of the channel via which they purchased the policy or they wanted to change the channel via which they had purchased the policy.

When people were asked that If given an option will they change the channel via which they are purchasing the policy? The following result arrived-

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Now, as we can see in the previous given pie chart, about 71% of the respondents said they did not want to change the channel via which they had purchased the policy. It also meant that they were satisfied with the current services given by the channels.

This 71% figure is also more important because it is not asking for the initial service, but for a renewal or continuation in service. So it becomes sure that these channels had been able to generate a faith in the minds of people and thus were able to get their supportive votes again.

People who had purchased any type of personal accident or health insurance policy provided the following points as important when it came to decision making moment related with the channels.

The following points come in the mind of the public when they try to make a decision whether to change the channel or not. Understanding the needs of the customer Providing ample time to the customer to explain his necessities Understanding the requirements of the customers Making the customer properly understand the benefits provided by the policy Inform the customer about the different products available in the market Suggest the customer about the best policy in the given lot Try to persuade the customer in some innovative way which makes him feel that the intermediary cares about the customer needs more than the company Whenever there is a claim he should be there with the customer , so that he does not feels lonely while having the tussle with the insurance company

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At the time of renewal the intermediary person should intimate the customer about the policy getting close to the renewal date, so that the customer does not feels any kind of problems later on If there is a better product available than the older one, then the intermediary person should suggest the customer about it.

So we can see that the public has many kind of expectations from the channel via which they are purchasing a policy. One cant be sure if they are fully satisfied with the services provided by the channel but still there must be some points in the minds of the people which made them go for the services of the same channel again. In the chart given in the previous page, we also saw that about 29% of the people were ready to change the channel via which they had purchased the policy; it also meant that they were not satisfied with the services provided by the current channel.

When these people were asked what were the reasons which made them think about changing the channel via which they had purchased the policy, thy stated the following reasons: Poor service The intermediary person did not understand the requirement of the customer properly Constant clash between the intermediaries and the customers Lack of communication Lack of understanding Inability to explain about new products

But one point which also arises here is that many times, people tend to change the company via which they had purchased the policy and in order to do so, they also change the channel via which they had purchased the policy. They blame the company and it is the intermediary which suffers along with it.

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When people were asked if they would like to renew their policy from their current company? The following result arrived-

As we can see that only 14% of the people wanted to change the company via which they had purchased the health policy. So it is a bit difficult to connect the dots between the relationship of a bad insurance policy and changing the channel via which the policy was purchased. 29% of the public wanted to change their channel of purchasing the policy. It indicates that people are satisfied with the companys policy, its the channel which is causing them problem, that is the reason why they want to change the channel.

We can see that about 86% people were ready to renew their policy from their current company only. This indicates that majority of the public is satisfied with the product that they were having. One reason behind this figure is also the added benefits which start joining the health insurance policy in the later years. Since there are many extra features like cumulative bonus etc which add up into a policy in the later years, so every person who has a bit if understanding of the insurance business goes for a continuation in the policy rather than abandoning it completely.

Also many times it is the faith generated by the company which works in the favor of the companies, as they enjoy a continuation in the services. The company provides discounts and other kind of advantages to the customers at the end of a year or we can say at the time of the renewal of the policy.
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One major factor which causes the customer to continue the service from the same old company is the simple fact that it is a bit cumbersome to purchase a new policy from a different company. Once a person plans to purchase a policy from a different company there are many kind of steps and procedures which he needs to cross through. He needs to provide several documents required for the inception of the policy. The customer is needed to go through a health checkup which takes a lot of time.

One common feature in Indians is that they have a let it be the way it is kind of attitude to many things in life. They do not care much even if it is related with them in some way or the other. The same happens many times to people and they do not change their insurance company at the time of renewal of a policy just because they do not consider it a much important thing or part of their life.

Sometimes negligence also forms the reason why people do not change the companies. At the time of renewal of the policy the agent/ intermediary simply asks for a cheque or cash payment from the customer, and the customer simply pays it to him, not even asking for the reason of payment which basically shows the unawareness spread across.

Due to the above mentioned reasons the above chart shows such a high percentage of people in favor of continuation of services from their current company.

Viewpoints of the intermediaries:

The 2nd part of the analysis reflects the results of a survey done on the intermediaries/distribution channels; the survey was done to study the viewpoints of different representatives of the distribution channels like agents and brokers A survey was done basically to understand the point of view of the intermediaries regarding health insurance business and approach of the public regarding this sector. Basically the survey was done with agents and brokers in Delhi-NCR region.
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Of the total survey 35 % respondents were brokers and 65% respondents were agents of various agencies. Only these two types of intermediaries were used for the survey because these two bring more than 90%of the health insurance business in Delhi-NCR region (as per the survey done on public).

Client identification: The most important thing for any intermediary is to identify its clients. There are various channels or leads which help these intermediaries to identify its clients. The following figure will give a better picture regarding client identification:

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The above figure is a combined picture of the business bringing strategies of both agents and brokers taken together.

We can see 25% of the business is brought by a combination of reference from existing clients, insurance companies, and tele calling, as well as with the help of direct sales team exclusively designed for this purpose only. 2nd combination is the combination of reference from existing clients and insurance companies only. This also accounted for about 25%. A combination of insurance companies and direct sales team was considered by 15% as the most helpful thing in identification of clients. 10% thought that a combination of Reference from existing clients, Insurance companies, Tele calling was best for brining clients. The combination of Reference from existing clients, Insurance companies, Tele calling, direct sales team, and online search for clients was considered by 5% of the overall respondents as helpful in bringing clients.

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Client identification methods ( Agents)

The above chart is a bit different from the chart on the previous page. The most sought after combination is the Reference from existing clients, Insurance companies, which accounted as the best combination by 38 % of agents. And 23 % respondents considered the combination of Reference from existing clients, Insurance companies, Direct sales team and the combination of Insurance companies, Direct sales team only as the best way to identify clients. So we can see the agents basically consider reference from existing clients and insurance companies as the best way to procure new business. This also proves that agents believe in more of a grounded kind of work environment. They do not put in many efforts on new age methods like use of internet, tele calling and creation of a direct sales team for identifying new clients. They still believe in old techniques for bringing business.

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This also makes it clear that if agents use other new age or modern techno savvy methods for identification of new clients, they can increase their by leaps and bounds. These methods will also help them in keeping a track of the clients overall.

Client identification methods (Brokers)

As we can see , a major part of the response came in favor of the combination of Reference from existing clients, Insurance companies, Tele calling, Direct sales team. It was selected by 72% of the brokers as the best combination to procure or identify new business. We can clearly see that brokers also feel that reference from insurance companies and existing clients is a very good way of generating business. But agents also feel that use of tele calling and creation of a direct sales team is equally helpful these days. 14%of the brokers who responded felt that a combination of Reference from existing clients, Insurance companies, Tele calling, Direct sales team, and online methods is helpful in bringing business.

USE OF MODERN TECHNIQUES BY BROKERS

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The above figure actually is very different from the picture given when the agents methods were analyzed. Although both agents and brokers consider reference from existing clients and insurance companies as their most important tool for gathering new business. But one point of difference which the brokers are now making is the use of more and more new techno savvy methods like internet advertisements, creation of database, tele-calling, client survey, creation of sales team etc.

Most profitable products in health insurance sector It is a very interesting point to be discussed what are the most profit bringing products in the health insurance business. There are many types of products available in the market but all are not equally profitable for the intermediaries and the insurance companies. Let us look at what are the products which the intermediaries consider to be the most profit generating one Agents perspective:

Since the survey was done on an open ended basis for this question, responses of varied wordings were collected. Individual mediclaim business was considered to be the most profitable business by agents.

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Various agents considered individual health care as the best product available as far as profits are considered. They named it by different types like individual health, individual, individual plans, individual mediclaim etc. Family floater plans was also considered by 9% agents to be a profit giving business. Similarly 9% agents also considered criticare business as profit giving alongwith individual policies. The picture above shows that individual healthcare policies are the most sought after policies as far as agents profits are considered.

Brokers perspective:

The above figure gives out a very clear picture about what the brokers think regarding the most profitable product as far as health insurance industry is considered. 43% feel that the individual sum insured basis products are the most profitable business. Whereas 29% feel that group policies are a profit bringing product. Here we can see a different approach from agents. Agents did not consider this product at all. This also gives an indication that group mediclaim policies are sold by brokers most of the times.
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A reason for this particular difference may also be because agents do not have much of contacts in big corporate houses to bring business of such large scale and thus they did not consider it as profit giving product. 14% respondents also voted for family floater products as the most profit giving product. 14%of the respondents also felt that the whole health insurance market is profitable and thus giving it a thumbs up.

Comparative analysis of products offered by various insurance companies-

Compan y name Bajaj Alliaanz GIC

Indivdu al Family cover floater policies Policies

Individual Health Guard Family Floater Health Guard

Personal Accident policies

1.Personal Guard, 2.Sankat Mochan

Group policies
1.Group Health Guard, 2.Group personal accident, 3.Group critical illness, 4.Workmen's compensation 1.Group medicalim, 2. Group personal accident Tata AIG Group Personal Accident Insurance( P.A Cover)

Reliance general insuranc e TATA AIG GIC

Reliance Individual Mediclaim Insurance Policy Individual Accident and Sickness Hospital Cash

1.Reliance HealthWise Policy, Standard Plan,2.Reliance HealthWise Policy N.A

Reliance Individual Personal Accident Policy

1.Accident Guard, 2.Income Guard, 3.Secured Income Plan, 4.Maharaksha Personal Injury

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Plan

ICICI Lombar d GIC IFFCO TOKIO GIC MAX BUPA

Health Advantage Plus Insurance Individual Medishield Insurance Policy HEART BEATINDIVIDUA L( silver , gold and platinum) Future Health Suraksha Individual

Family Floater Health Insurance Swasthya Kavach (Family Health Insurance) Policy Family first( for joint families), Family floater(nuclear families) Future Health Suraksha Family

Individual Personal Accident Insurance Group Personal Accident Insurance policy(group only) N.A

N.A

Group Personal Accident Insurance policy(P.A. cover)

FUTURE GENERA LI

Employee First Health Insurance N.A Future Accident Suraksha

The table on the previous page provides the following data Future Generali is having only 3 products in the health insurance segment.

Other companies are offering many products which are especially desgined for health insurance segment.

Future Generali is providing one product each for individual cover, family floater and personal accident insurance.

For the personal accident section, Future Generali is having a ssingle product, whereas many other companies are providing more than one product, and thus it becomes clear that they have designed different products for the personal accident market also covering different situations.

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If we take a look at the table we can see majority of companies are providing more than one product especially designed for at least one of the segments i.e individual, family cover or P.A cover.

Future Generali has no product in group medicalim policy section, whereas many other companies are providing this cover and are getting advantage

One big opportunity lies in the Group health policies as the market is still very wide open, and in a developing nation like India full of national and multinational companies, an opportunity for gaining advantage in the group health insurance market is always there

Since it has been previously discussed that Group polcies are getting popular now with big corporate houses and institutes providing cover to their employees and students respectively. So this segment of the health insurance business is still untapped for Future Generali.

If we add a table showing extra benefit policies offered by insurance companies in health insurance market, we get the following picture-

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Company Extra benefit policies Bajaj

1.Health Ensure, 2. Extra Care, 3. Tax Gain Plan, 4. Star Package 5.Life Health Insurance, 6.Hospital Cash 7. Silver Health 8.Insta Insure Reliance HealthWise Policy Gold

Reliance

TATA AIG

1.Wellsurance Family 2. Wellsurance Woman 3.Wellsurance Executive 1.Rishtey Parents Health 2.Health Care Plus

ICICI

IFFCO

N.A

MAX BUPA

N.A

N.A

FUTURE

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We can see in this particular section of the health insurance market companies design special product for the customers like tax saving, extra care, parents health care etc. Future Generali has no product in the special benefit segment. Companies like Bajaj Allianz, Relaince, Tata AIG and ICICI Lombard are gaining advantage in the market by providing these kinds of products. Its a part of the market which has got no proper definition to it, so every company has got the opportunity to design a product in some unorthodox manner and place it in the market and gain profits. For every new company this particular zone in the health insurance market is a brilliant opportunity to succeed and establish itself, and thus Future Generali must capitalize on this aspect.

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Personal Accident Insurance market and public mindset-

When asked questions regarding views about personal accident insurance products the following responses were noted Majority of the public i.e more than 90% of the public interviewed did not know anything about personal accident insurance Many of the respondents said that there is no product like this in the market as their agent did not inform them about these ever. There was a section of respondents who said that a personal accident insurance cover is one taken while we are driving a motor vehicle, thus they were confused regarding a P.A insurance cover and a motor insurance cover. Many of those who understood a personal accident insurance cover said they did not need this product as they will obviously be getting reimbursement after any motor accident from the person who hits them. Some people also were of the viewpoint that they cannot purchase an insurance policy for everything in life. People also felt that after purchasing a health insurance policy, a separate personal accident cover is not needed.

What does this mean?

There is heavy unawareness amongst the public regarding personal accident insurance They think if someone is riding a vehicle, and they meet with accident with that vehicle, the motor insurance will compensate them They do not think personal accident insurance is needed in their life They never thought accidents might happen in their how houses and may cause damage to the property as well as their family members
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Agents are not performing the duty of informing the public regarding personal accident insurance policies and its importance, in a proper manner

Conclusion and recommendations

ConclusionAs the product tries to cover the Current market scenario & potential vis--vis channel mix for non-motor retail products of Future Generali, a detailed study was done on various aspects like: market size, market type, various types of available products offered by competitors, different type of distribution channels available, public view point regarding the non motor retail insurance market and various other points

The current status of health insurance and personal accident insurance market for Future Generali is not very good, but as the company is a very good brand thus it has all the potential to do well in this market. Since the company is just 3 years old in the Indian insurance market it will take time to capture market share and capturing more than 1.2% of the market share in 3 years is a fair performance. Currently Future Generali is having only 3 products for the health and personal accident insurance market whereas its competitors are having much more number

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of products for the same. Future Generali is also not having a single product in the non-motor retail insurance market which has some miscellaneous/special type of features.

Apart from that while studying the response of public about their understanding of the health and personal accident insurance market it was concluded that majority of pubic is unaware about these types of products, they do not have information if these types of insurance policies do exist in the market or not. Many of them feel that having a health insurance cover is not useful until you are into your old age or you are having some dangerous diseases, many others feel that health insurance cover on an individual basis is a waste of money, some of them felt that it is the duty of the company in which they are working to provide them with a health insurance cover and they by themselves will not buy one.

THE L.I.C. FACTOR One interesting yet saddening fact which was noted when the survey was conducted was the lack of unawareness in the minds of people. The general public tries to connect anything related with insurance and LIC. When many of the respondents were asked if they have a health insurance cover? They said YES, but when they were asked from which company they had purchased the policy they said LIC. And just to check if it was really a health policy from LIC and not a life insurance policy, when they were asked for policy details and how many years are they having this policy their replies suggested they were talking about LICs life insurance policies. This shows that the public thinks insurance is only one and that is Life insurance and LIC sells it. They cannot differentiate between a health insurance, a life insurance, a personal accident insurance, a ulip, a property insurance etc. And the number of these types of respondents was very high. Initially the project had about 305 samples but out of those only 210 samples was accepted as proper samples for analysis part, which means about 95 samples, was of those type in which people said they are having health insurance cover from LIC for many years.

The distribution channel factor

The intermediaries play a very important part in bringing business for any insurance company. Since it is the intermediaries which ultimately contact the customers and maintain a regular contact with them, thus if the intermediaries are able to satisfy the clients then the business for any insurance company is sure to increase.

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Unlike the market in the foreign nations, the Indian market is still very raw in terms of health insurance products. People are least aware about launch of new products, in fact the majority of the public do not know more than 5-8 insurance companies. The potential customers of this market are still very much dependent on the intermediaries for any particular policy. For example if someone has to purchase a family floater health insurance plan , he will not be able to choose a product by himself as he is not able to understand the policy details by himself and is always dependent on his agent or broker or bank via which he/she has purchased the product.

Recommendations

The public needs to understand the importance of cost of medical expenses Future Generali needs to launch more products in the health and personal accident market as its competitors are doing. The company is not having a big market share at the moment, and to do so it needs to have some special and attractive marketing strategies to attract the customers. At the moment, the majority if business is brought by agents and brokers, the company needs to train the agents in a better manner so that they can bring more customers. The company should try to improve its after sale services so that its current customers do not go away to other companies. The company should try to take a feedback from the customers on a regular basis, to understand their needs and grievances and act accordingly. As the project shows that the real scope of health and P.A insurance market lies in the rural areas, so the company needs to make strategies and try to capture this particular market which is full of opportunities.

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The basic problem lies in the lack of awareness in the minds of people, and thus the company should organize some events which will try to educate the common public and make them understand the importance of insurance and especially health insurance. The company needs to make the common people aware that if they think in the long period of 20-30 years, any claim in health insurance will be much more than the premium paid The current lifestyle in metros leads to dangerous diseases, thus if the company can make people aware about this fact, they can gain more business

References
Websites used:
http://www.irda.gov.in

http://www.futuregenerali.in

http://www.searo.who.int/

http://www.searo.who.int/linkfiles/social_health_insurance_an2.pdf

http://www.insurancepandit.com/

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Books/Journal/magazine/Newspaper Referred: The Economic Times The Mint Brochures of Future Generali Brochures of other general insurance companies in India
Marketing Research(an applied orientation)- Naresh K. Malhotra

Personal Accident Sickness And Miscellaneous Insurance (IC-73) by Insurance Institute of India

Appendix
QUESTIONNAIRES To assess the Market Perception regarding Current market scenario & potential for nonmotor retail products.
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Dear Respondent, I (Prashant Kumar Chauhan)a student of Northern India Engg.College , GGSIPU, am conducting this survey as a part of my summer internship project Current market scenario & potential vis--vis channel mix for non-motor retail products of Future Generali The information gathered through this survey would be essential and precious for my research and would be used for inferential and statistical purpose only

Questionnaire used for survey of common public-

Name: ______________________________________ Age: _________ Contact: ______________________________________ Location: ____________________________ 1. Do you have a personal accident/ health insurance policy ? a) Yes b) No
1.1 If No then why? _____________________________________________

1.2 Would you like to purchase a personal accident/ health insurance policy? ________________ 2. Which health insurance policy do you have? a) Individual sum insured basis b) Floater sum insured basis/ family plan c) Group health cover d) Any other _________________________________

3. From which company have you purchased the policy? ______________________________________________

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4. You have purchased your policy via which channel? a) Agents b) Brokers c) Banks d) Direct (__________________________) e) Any other (please mention)__________________________ 5. Would you like to renew your policy from your current company? a) Yes (reason_______________________________) b) No (reason__________________________________) 6. If given an option will you change the channel via which you are purchasing the policy? a) Yes ( reason ___________________________________) b) No (reason_____________________________________)

7. Prioritize the following factors on a scale of 1-5 about the influence which they create when you think of purchasing a policy.[1 being the highest/best] a) Your requirements ( ) ) )

b) Product specifications (

c) Influence by the channel ( d) Tax advantage ( e) Other factors ( ) )

8. What are the problems which you often face while purchasing a policy? a) Slow response from the channel b) Lack of proper explanation regarding the product features c) Lack of communication
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d) Any other (please mention)_______________________________________________

9. Did you face any kind of problem during the after sale services by the insurance company? a) Yes ( ____________________________________) b) No

10. What changes do you want in your current health insurance plan? _______________________________________________________________________ _

Questionnaire used for survey of Distribution channels NAME: ___________________________________________________________ ADDRESS: __________________________________________________________ CONTACT NO: ________________________________________________________
1. TYPE OF DISTRIBUTION CHANNEL:

AGENCY BROKER RETAIL BROKER CORP BROKER CORPORATE Agents ANY OTHER (PLEASE METION) ____________________________________
2. LICENSE NO. _________________________

3. WHAT IS/ARE YOUR AREAS OF OPERATIONS RURAL URBAN

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 SEMI RURAL SEMI URBAN 4. APPROXIMATE NUMBER OF CLIENTS HANDLED BY YOU PER MONTH: New:_______________________Renewal :____________________________ 5. WHILE PROVIDING SERVICE TO A CLIENT YOUR MAJOR FOCUS IS ON: ______________________________________________________________ 6. HOW DO YOU IDENTIFY NEW CLIENTS: REFERENCE FROM EXISTING CLIENTS INSURANCE COMPANIES TELE- CALLING DIRECT SALES TEAM ONLINE ANY OTHER (PLEASE MENTION) _____________________________________ 7. WHAT ARE THE EXPECTATIONS OF A PERSON PURCHASSING A PERSONAL ACCIDENT/HEALTH POLICY? ______________________________________________________________________ 8. WHAT ARE THE MAJOR PROBLEMS FACED BY YOU WHILE PERSUADING YOUR CLIENT? _______________________________________________________________________ 9. WHAT IS THE MOST PROFIT GIVING PRODUCT IN HEALTH & P.A MARKET? _______________________________________________________________________ _ 10. AS PER YOU WHAT ARE THE SCOPES AVAILABLE IN NON-MOTOR RETAIL BUSINESS? _______________________________________________________________________ 11. WHAT IS YOUR TARGET MARKET/LOCATION? _______________________________________________________________________ _ 12. WHAT IS THE SHARE OF YOUR COMPETITOR IN YOUR TARGET MARKET? _______________________________________________________________________ __

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