Scan 0001

I om: SHANKUMAR C/o

MANOJ

J.

SOLANKI

SOLANKI

B TIRUPATI APPTS 16 SANGAM SOC AMBAWADI HIRABAUG CROSSING AHMEDABAD - 380015 GUJARAT STATE, INDIA e-mail: [email protected] Mob. + 971 507396163 (UAE) 1 +91 9727999034 (India) 1st September 2009 To,

The Coordinator (Projects), School of Management Studies, IGNOU, Maidan Garhi, New Oelhi-110 068.

Subject: Submission of Project Proposal for MS-100 (Student Enrolment no.

MP - 909150356)

Dear Sir, With reference to the above, please find attached following: 1. Proforma for Approval of Project Proposal duly signed by me & the Project Guide 2.. 3. 4.

sis of Project Proposal (4 pages) duly signed by me & project Guide Detailed Bio-data of the Project Guide Mr. Chetluru S. Ravi, duly signed by him Copy of Re-registration acceptance at IGNOU Regional Centre, Ahmedabad dated 14/1/2009

Kindly note that my recorded address is as stated above, but I frequently visit Dubai, UAE & intend to take up employment there shortly & hence taken up project relating to UAE with project guide who is well experienced Professional working in Insurance sector in UAE. Kindly requested to approve my Project proposal at the earliest and enable me to complete the Project Work MS-100 at the earliest.

~.

Thanking you Yours faithfully

~Olanki MP Regn no. 909150356 Encl: As above

.,..

From: SHANKUMAR

J.

Clo MANOJ

SOLANKI

SOLANKI

B TIRUPATI

APPTS

AMBAWADI

HIRABAUG

AHMEDABAD GUJARAT

16 SANGAM

SOC

CROSSING

- 380015

STATE, INDIA

e-mail: [email protected] (UAE) I +91 9727999034

Mob. + 971 507396163

(India) 1 st September

2009

To,

The Coordinator (Projects), School of Management Studies, IGNOU, Maidan Garhi, New Delhi-110 068.

Subject:

Submission

of Project Proposal for

MS-100

(Student Enrolment

no.

MP - 909150356)

Dear Sir, With reference to the above, please find attached following: 1.

Profonma for Approval

of Project Proposal duly signed by me & the Project Guide

SyI10psi-:s 0 Project Proposal 3.

Detailed

4.

Copy of Re-registration

Bio-data of the Project Guide Mr. Chetluru S. Ravi, duly signed by him

Kindly note that my recorded take up employment well experienced

(4 pages) duly signed by me & project Guide

acceptance

address

there shortly

Professional

at IGNOU Regional

is as stated above, but I frequently

Thanking

you

Yours faithfully

~Olanki MP Regn no. 909150356 Encl: As above

dated 14/1/2009

visit Dubai, UAE & intend to

& hence taken up project relating to UAE with project guide who is

working

in Insurance

Kindly requested to approve my Project proposal Work MS-100 at the earliest.

~.

Centre, Ahmedabad

sector in UAE. at the earliest and enable me to complete

the Project

Project Proposal No.

bz.... 0 ~ 1. ~

I

(To be assigned by the School)

School of Management

MBA

Studies

INDIRA GANDHI NATIONAL OPEN UNIVERSITY Maidan Garhi, New Delhi -110 068 PROFORMA FOR APPROVAL OF PROJECT PROPOSAL (MS -100) Enrolment No.

LD Arts College, Ahmedabad

Study Centre:

909[50356

Regional Centre: Name and Address of the Student

Ahmedabad

KISHANKUMAR C/o

MANOJ

1.

(09)

SOLANKI

SOLANKI

B TIRUPATI APPTS 16 SANGAM SOC AMBA WADI HIRABAUG CROSSING AHMEDABAD - 3&0015

~~

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\L~ So ~C't.N\ _ So .tel."" ~ @.. J\J.el..."..f1-'V'A..<>\.1'"

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GUJARA T STATE, INDIA Title of the Project

(0901)

,.:5 Cl

~

Study of Consumer Behaviour in Insurance Services related to Construction Sector in UAE

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Subject Area Name and Address of the Supervisor

Mr. Chetluru S. Ravi Vice President - Technical! Corporate Relations Insure Direct (Brokers) LLC PO Box: 57006, Dubai, UAE Tel.: Direct: +97144339419 Mobile: +971506405983 Email: [email protected] & cs_ravihema@hotmaiLcom

Is the Supervisor an Academic Counsellor of Management Programme ofIGNOU?

If Yes, Name and Code of Study Centre and the courses he J she is counseling for and since when No. of the Students currently working under the Supervisor for MS-lOO

Signature of Student Date:

CrvC.J.J,
Not Applicable

01 (One)

Signature of Supervisor: Date:

Of - 0", -

C-"" 5, . ~ ~~9

Please do 1I0t forget to enclose the synopsis of the project and the Bio-data of the Supervisor. In case the complete and signed Bio-Data of the Supervisor (Even if the proposed supervisor is all academic counceller of IGNOU's Management Programme) is 1I0t enclosed, the proposal will 1101be entertained.

SYNOPSIS APPROVED

U1'"

r 3 9 6'16..s cV ~

SUPERVISOR \/--

NOT APPROVED

For Office Use only

APPROVED~~ NOT APPROVED

G~~

(SIGNATURE OF MANAGEMENT Comments I Suggestions for reformulation of the Project (Please use the photocopy of this proforma)

Date

FACULTY)

J.~7:.f of···

)

Synopsis of the Project Proposal

roject Title:

2. Subject Area:

Study of Consumer Behaviour in Insurance Services related to Construction Sector in UAE

Marketing Management

3. Rational for the Study: The Construction Sector is vital and vibrant part of the Economy in United Arab Emirates (UAE). Various Construction Projects in UAE are of high value and long duration which involve complex execution process. Also there is high concern for safety & environment protection. These factors make the Construction sector in UAE as one of the highly risky business operations. To mitigate high risks involved, Insurance of various kind viz. Contractor's All Risk uding Third Party Liability, Plant & Machineries, Workman Compensation, essi al lndernnlty.etc are mandated Contractually by various participants of UAE is one of the largest insurance markets in the e UAE market were around - ~~- er forecas e ins a ce market is growing by :; a . There are about 50 Direct Insurance firms and more a 20 Intermediaries in UAE engaged in providing insurance services of various kinds. This has enthused to take up the study of Consumer Behaviour in Insurance services related to Construction Sector in UAE 4. Objectives of the Study: The Construction

Sector is vital and vibrant part of the Economy in United Arab

Emirates (UAE). The main objective behind the project is to study and identify consumer buying Behaviour regarding various type of insurance requirements of the Construction

Sector

company managements

in UAE.

It is expected that this study will help the

of Insurance Provider organizations to study the analysis

and understand the behavior of consumer of their Insurance related services that will ultimately enable to effectively market their product & services.

Synopsis of Project Proposal

by Klsnankurnar

J.

Solanki - MBA Student

Page1 of4

of IGNOU - enrollment

no.

909150356

e above main objective, there are following sub-objectives of this study:

_5

a.

0

identify

the influence of different

I surance

Policies on Consumers

characteristics/features

in different segments

of various

of Construction

Sector viz. Contractors, Consultants, Developers, and Owners operating in UAE To find out there is any brand loyalty & if so, why consumer particular

brand of Insurance

policies?

prefer

and Which are the factors that

influence and motivate him to buy the preferred brand of the Insurance? c. To get a better understanding of Insurance Market in UAE. d. To find the most preferable brand among the various type of Insurances and to find which brand enjoy the market leadership position e. To

help

the

Company

Marketing

Managers

to

Design

an

Effective

Marketing Mix for it target Customers f.

Last, but not the least, to help the student of this study to gain more insight of Insurance which help him to perform better in his current job helping

to fulfill requirements

besides

of coveted degree of MBA in Marketing

Management.

ogy to be used for carry out the study:

.v- ~ a a.

oac

0

carry out the study:

ature of data, It is planned to obtain following details from the survey: i. Overview of various categories of consumer of Insurances ii. Major types of Insurances taken by Construction Sector iii. General Consumer profile iv. Satisfaction level with the current Insurance Providers v. General process of decision making in the consumer organisation vi.

Reason for the selection of specific insurance policy and provider

vii.

Desirable features of the product and risk aptitude

Synopsis of Project Proposal

by Kishankumar

J. Solanki - MBA Student of IGNOU - enrollment

Page 2 of 4

no.

909150356

Data Sources, The data sources shall be categorized into two categories - Primary and Secondary: •

Primary Data: Primary data are those, which are collected for the first time, and they are original in character. A suitable combination of Questionnaire, techniques

& discussion with the respondents will be used to collect the

required Primary data. Primary data gives higher accuracy and facts, which is very helpful for any research and its findings. •

Secondary

data: - The secondary

data are those, which are already

collected by someone for some purpose and are available for the present study. Secondary data will be collected from the magazines, websites and other such sources. c. Data Collection Methods, aire method:- Primary data will be collected by surveying the . pia ned to use both the Close & Open Ended r ·5 free 0 ans ~i in eir own words too. Tools and Techniques of Analysis, Sampling Sample Size will be around 100 respondents and convenience sampling method will be adopted The main statistical tools planned to be used for the collection and analyses of data in this project will be: • • •

Synopsis

Questionnaire Pie Charts Bar Diagrams

of Project Proposal

by Kishankumar

J. Solanki - MBA Student of IGNOU - enrollment

Page 3 of 4

no.

909150356

e expected contribution from the study: ne study will help the both the consumer of the Insurance as well as Insurance 'ce provider in UAE, -"'e Consumer of the Insurance will appreciate various options available to them, ~·s will help them to choose from the Insurance providers who meet their . ire ents at optimum cost to them, I surance service providers will be able to better understand the needs of the ...... sumers of their products and how various features of their insurance policies ~ ~-

buying decision of the Consumers. This will help them review their e 'ng strategies in order to better marketing of their products

tions, if any: the current study will be exploratory & cross-sectional in nature, it identifies uyi g behaviour of Consumers of Insurance services in UAE as a snapshot e sampling method used is convenience sampling due to time & cost a ence may ot provide accurate results. The user of the study is m-oeom anaJ is 0 confirm the results obtained under this 'sa e co s ers over a pe lod of time) may also ete i e now the buying behaviour of consumers changes over a o irne.

8. The direction of future research: The current study provides only a Cross sectional perspective on general buying behaviour of consumers of Insurance services. Further study on longitudinal section basis may provide useful information to know the time effect on buying behaviour. Also, detailed studies can be undertaken on why the consumer behaves in particular way - to further explore deep reasons that may help fine tune the marketing strategies of Insurance service providers.

v'::>-~

c=s .tZ.AvI ) Synopsis of Project Proposal

by Kishankumar

J. Solanki - MBA Student of IGNOU . enrollment

Page4 of4

no.

909150356

. Ravj

-------,--------------------------------Z5,~'ar1A(or'k Experience in highly competitive 1il:1E1~iidlmt-Technical/Corporate

Insurance ind

Relations - 015t Mar.2009 -

n I date

(Brokers) llC (A Dubai World Group Company)

d overseeing the entire Technical & Corporate Relations Operations -el:illli:a~(:Orporate

Relations Manager:

Dec.200S- 01 Mar.2009

_a::eDil-ect (Brokers) LlC (A Dubai World Group Company)

ccountabilities: anaging and Servicing Corporate Clients' Insurance portfolios . ory services to various Project Insurances - Nokheel and other construction ponies. ;;'oviding Technical advises to clients on various insurance matters. ~ ewal planning & placements -_ veiopinq and maintaining relations with the International Markets for placements - re Iy in international Markets for certain high valued Projects of Nokheel/limitless. ~ . ize the revenue contribution to the Emp/oyer by way of negotiating for higher m. . s' s with Insurers ce Backend support staff· Training & Development. ~1OfI'I~:lO in rn!Orlreting stroteaies 0 increase awareness amongst the Insuring

=----:c---_ ~r>'1""r>nce

"rec ties for certain specializes classes of Insurance like ehictes, Pleasure Craft/Yacht, Professional Indemnity Insurance --r;

Perso a/lines business e 'nical Assistance to Claims Department and claims negotiation with Insurers and clients

Conducting Operational Training for the Staff Organizing Presentation to Clients on Risk Management

:lejputy Manager - Broker Relations ationallnsurance,

.

& Insurance

Aug. 2002 - Nov. 2005

Oubai - Handling Direct & Broker Portfolio of AED 60 Million

'pal Accountabilities: • • • • • • •

Accountable for increase in Broker and Direct business and Customer service Ensuring quality brokers and customers with prudent professional insurance practices Ensuring systematic collection process to have Bad debts and Churn under control. Expanding Marketing network in line with Company principles to give better service to customers. Establishing relations with International markets for arranging Fac RI Placements. Ensuring customer delight in all activities in sales and customer service. Encouraging good initiatives from the team and keep them engaged & motivated.

2

-~~

••-..,"!-- ~

P 'mal utilization of resources to keep up the achievement, in line with eting strategies to increase awareness amongst insuring Population,

et pment of the Team on the job and off the job. ode products in line with customer expectations el partners adhere to the principles of the Company . . h the trade through regular Broker Relation programmes for Brokers .i ars, with Customers through customer interface programmes and g p with top Corporates & Brokers.

--..,::{,'-.!-:~~_'!-G"

-

uscat - Sultanate of Oman erwriting July 2000 - June 2002

milllion per annum

risks including

ementing

Industrial risks

Prudent underwriting practices by way of setting professional

. g risks 0[1 other departments to act as a fowl point for all their insurance needs ient i. maximum satisfaction gent as to the production and servicing ides based on the clients requirements

~!!CI_1II!5"

en:5U'~ dEsdpli1!E.'

Qm
2

s:

monitor route Marketing /

uien Iy and effectively

re customer feedback from sales activities.

roaue information on competitors' activities.

!&

ited India Insurance, Tamil Nadu, India - March 1985-June 2000 .Divisional Manager rt listed as Branch Manager in a rural branch prior to my resignation) -

'pg/

Accountabilities:

1. Accountable for the claims and underwriting of all classes of insurance in the specific Divisional office 2. Meeting the Company's Divisional annual Business plans comprising of volume Targets, New Direct Business Targets, Agents appointment, Branc coordination 3. Handling of technical & Sales team in the Division 4. Providing timely inputs through on the job training progro es, moo ating the Soles the rrade. team to have a better performance, building relations 5 1.

Page 1 of 1

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~l!iSlnILtion Details for January 2009 Session

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Admission I Confirmed Remarks on 114/1/2009

._ ou.ac.in/ Adm2009 Jan. asp

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17/03/2009