Santosh Hotkar
Santosh Hotkar
Santosh Hotkar
MONTH, 2021-23
DECLARATION
project report is the record of authentic work carried out by me and has not been
submitted to any other University or Institute for the award of any degree /
diploma etc.
Roll No:A-11
Class: MMS
Place: Mumbai
Date:
Specialization: Finance
This is to certify that project report entitled "STRATEGIC MANAGEMENT OF
INSURANCE CLAIMS" submitted by SANTOSH PARMESHWAR HOTKAR is
as per requirement of Humera Khan Institute of Management Studies & Research
in the fulfillment of MMS for the academic year 2021-2023.
Date:20/12/2022.
Place: Mumbai
Certificate
This is to certify that the dissertation submitted in partial fulfillment for the Award
of Master of Management Studies under University of Mumbai from H.K Institute
of Management Studies and Research is a result of the Bonafide research work
carried out by Mr. SANTOSH PARMESHWAR HOTKAR under my supervision
and guidance. No part of this report has been submitted for award of any other
degree, diploma, fellowship or other similar titles or prize. The work had also not
been published in any journal /magazines.
Dr Govind Shinde
Director HKIMSR
Project Guide
Prof.Nitin Tambekar
ACKNOWLEDGEMENT
It is an honor to present this project report titled as "STRATEGIC MANAGEMENT OF
INSURANCE CLAIMS ". This partial fulfillment of curriculum has provided me a great
opportunity to experience the market practicalities in a hidden sector of security systems.
To prepare this report efforts are made not by an individual only but also the office staff
of Wipro Ltd.. Faculty members of Humera Khan Institute of Management Studies &
Research
I would like to thank each and every member of Wipro Ltd., for their immense guidance
and suggestions, the respondents for providing factual information without which I would
not have been able to complete the project.
I am also grateful to, Director Dr. Govind Shinde and all the faculty members who have
directly or indirectly helped me in preparing this project report.
Yours Sincerely
1. PROJECT INTRODUCTION
Introduction…………………………………………….7
Company profile……………………………………….8
Organization Structure…………………….………….9
Organization Chart………..………….…....………….10
Company Overview…………………………..………11
History of Wipro Ltd………………………….12
Brand Identity………………………………………...13-14
Product Information………………….……………….15
Required documents……………………….…………16
Insurance Name… … … … . … … … … … … … . 17-18
What is insurance ?.......................................................19
Difference between US insurance and Indian finance...20
Diversified business model… … … … … … … … . 21
Study of Project………………………………………22
Objective of Study………………………..………23-25
Scope of Study……………………………………….26
2. Research methodology…………………………….27- 28
Questionnaire……………………………….……..29-30
Data Analysis…………………………….………..31-41
Limitations of Study…………………………….……42
Finding, Suggestions and Conclusions……………43-45
Bibliography………………………..………………..46
Chapter 1
Introduction
As part of MMS programme the student undergo in-plant training for 45 days in any
organization, functional areas like marketing, finance, human resource management,
system, production etc. The main aim of research is the orientation of student to
organizational environment in which he will be working.
The student got an opportunity to carry out in-plant training to selected finance field for
project. Project I got an opportunity to, carry out in-plant training in the WIPRO LTD.
Which is related to finance services and day to day finance operations, I learned about
strengths and weaknesses of financial status of the company and how company provide
different services to their customers and also recover the debt.
All the staff member of the above, company were very co-operative and enthusiastic. It
was a great experience to move, and work with finance department.
I have observed that how finance department does their work as per the given
requirement of the company to accomplish vision and mission of the company.
Company Profile
Name of company: WIPRO Ltd.
Status: Listed
Introduction:
A key issue in accomplishing the goals identified in the planning process is structuring
the work of organization. Organizations are group of people, with ideas and resources
working toward common goals. The purpose of the organizing function is to make the
best use of the organizations resources to achieve organizational goals. Organizational
Structure is the formal decisions making framework by which job tasks are divided,
grouped and coordinated. Formalization is an important aspect of structure. It is the
extent to which the unit of organization is explicitly defined and its policies, procedures
and goals are clearly stated. It is the official organizational structure conceived and built
by top management. The formal organization can be seen and represented in chart form.
An organization chart displays the organizational structure and shows job titles, lines of
authority and relationship between departments. Organizational Structure allows the
expressed allocation of responsibilities for different functions and processes to different
entities. Ordinary description of such entities is as branch site, department, work group
and single group of people.
ORGANISATION CHART
COMPANY OVERVIEW
Wipro
Wipro
en.wikipedia.org
www.prnewswire.com
en.wikipedia.org
Edelweiss Group
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www.facebook.com
en.wikipedia.org
Future Generali India Insurance Company
en.wikipedia.org
Advantages of an insurance
Provides Protection. Insurance coverage does reduce the impact of loss that one
bears in perilous situations. …
Risk Sharing. …
Value of Risk. …
Capital Generation. …
Economic Growth. …
Saving Habits.
Difference between Indian insurance and US Finance
Indian Insurance
US insurance
• The average cost of a trip to the emergency room for an adult is about $700, not
including any tests or hospitalization, which may increase the bill to well over
$1,000.1
• A broken leg can cost up to $7,500.
• Average costs for childbirth are up to $8,800, and well over $10,000 for C-
section delivery.1,2
• The total cost of a hip replacement can run a whopping $32,000.
• Being able to find the help you need close to home
• Peace of mind and less worry because you know you’re covered
• Access to affordable care and health information to keep you healthy
Conglomerate diversification occurs when you add new products or services that
are entirely different from and unrelated to your core business. For example, a
film studio opening up an entertainment park. The risks are high, as this approach
requires you not only to enter a new market, but also to sell to a new consumer
base.
• Connect with your broker. Your broker is your primary contact when it
comes to your insurance policy – they should understand your situation and
how to proceed. …
Our bias for the best in the world comes from our obsession for our Big
Goal. We believe when our customers buy a product or service from us,
they are placing their trust in us. Trust itself is a delicate matter. It needs
both expertise and experience, together. When we partner with SFDC for
our online capabilities, with Microsoft for our software and with TCS for
process mapping, and CRISIL for auditing us, we believe we’re
implementing zero tolerance to compromise.
Over 60% of graduates in India are not fit for employment. Contributing
to a significant part of this pie are graduates from tier II and tier III cities
who are subject to imbalanced socio-economic statuses and low-quality
education. Employing over 24000+ individuals, Bajaj Finserv is
cognizant of this existential skills gap. CPBFI was thus designed keeping
in mind the industry requirements, where graduates pay a nominal fee to
build a better future for themselves, with a major portion of the fee being
borne by us. This provides an equal opportunity for the young minds to
maximise their potential, pursue their career ambitions with confidence
and not be in a state of “what might have been”.
Education
Primary data has been collected from the respondent, meeting in a person.
Suitable questionnaire has been prepared and distributed among the respondent
and data has been collected. Informal methods like interview also has been
conducted to verify the given responses
Secondary data has been collected from different sources like books,journals,
magazines, newspapers, research proposals, published reports and extensive use
of internet or websites.
Population Of Study
Bajaj Finance Limited, the lending arm of Bajaj Finserv Limited, is one of the
most diversified NBFCs in the Indian market, catering to 58 million customers
across the country.
As per the 2020 data number of employees working in all departments of Bajaj
Finserv is 26969.
Sampling method
In order to satisfy the objective of the research these are research techniques
used.
Random sampling-according to questionnaire those customers who came to
buy the product I collected data from them.
Sample Size
Fifty samples have been selected and it is selected on the Basis of convenient
sampling method.
QUESTIONNAIRE
Do you know about the Insurance ?
A) Yes
B) No
Making healthcare data easier to share among colleagues and external partners, and
easier to visualize for public consumption
Providing accurate data-driven forecasts in real time to allow healthcare providers
to respond more quickly to changing healthcare markets and environments
Enhancing data collaboration and innovation among healthcare organizations to
convert analytics-ready data into business-ready information by automating low-
impact data management tasks
The tools used in analytics fall into three general categories:
Software that acquires the data from sources that include patient surveys, case
files, and machine-to-machine data transfers
Programs that clean, validate, and analyze the data in response to a specific
research question
Software that builds on the results of the analysis to suggest various actions to
achieve specific healthcare goals
Along with collecting, analyzing, and interpreting data, analytics software must
secure the data and the analysis results while ensuring that the healthcare
professionals who’ll benefit from the insights have ready access to the information
in a form that they can easily use in their work.
Which types of work are subject to copyright?
Copyright ownership gives the owner the exclusive right to use the work, with some exceptions.
When a person creates an original work, fixed in a tangible medium, he or she automatically owns
copyright to the work.
Many types of works are eligible for copyright protection, for example:
A survey conducted by Health Catalyst highlights that 90% of the respondents are
of the opinion that healthcare analytics is going to be either “extremely
important” or “very important” to their organization within the next few years.
Healthcare analytics is poised to transform the health care industry and help it
address critical challenges like improved patient outcomes, quality of care, lower
treatment costs and more.
Here our data analytics consultants concentrate on base-level patient
health data, related to individual’s condition, not the aggregate information
on all patients. Considering individual patients, the following health data
sources can be classified.
Examination
When the patient’s condition is assessed by a physician (be it a first
appointment or a follow-up), the information gathered and recorded in the
HER includes:
The healthcare industry is one of the most data-driven industries in the world.
Doctors and researchers rely on data to make informed decisions about the best
treatment options for their patients.
Data analytics has been used in other industries for years, but only recently has it
started to be applied in healthcare settings. The goal of healthcare data analytics
is to help clinicians make better decisions about patients based on their patient
history, lab test results, and other relevant factors.
According to Mckinsey, effectively using Big Data Analytics in the US healthcare
industry could create more than $300 billion in value every year. Two third of this
value will be achieved by reducing healthcare expenditure.
Isn’t it beneficial if you get to know about your future health risk depending on
your current lifestyle? Maybe you are unaware of how your eating habits and
your daily workout is affecting your health.
We live in the world of advanced technology. It is being used in every field
whether it’s professional, healthcare, educational or any other field. Healthcare is
in the middle of the revolution. Healthcare is using and adopting different ways of
LIMITATIONS OF STUDY
Sometimes online payment of EMI gets delayed and the EMI will gets bounced with
extra charges.
Bajaj EMI card does not provide loan to outside city customer.
Bajaj finserv needs 750 cibil score to approve for loan
It provide loan to customers with divided areas
Its does not allow loan for age below 23years and above 65years
FINDING, SUGGESTION AND
CONCLUSION
Findings
Customers think that Bajaj Finserv will take some hidden charges from them, if they take
durable loan at 0% from Bajaj Finserv. So the Bajaj Finserv removes the wrong thinking
of Customer and to explain in detail loan procedure.
Bajaj Finserv initially have the system of swiping of EMI card but due to some difficulty
they stopped it, I think Bajaj should work upon this as this can save more time for
Customer as well as for Sale Executive and he can serve more non-EMI card user and
Convert them into EMI card holder
Improve the service of customer care and provide proper call centre number.
The study concludes that the Bajaj finance the strongest finance for the consumer durable
products, and the Bajaj is provides very good schemes for the customers the customers
are very happy with the Bajaj EMI card, Bajaj is gives the good service to the customers
Bajaj is very close with the customers
There are many organizations in the world which are providing consumer credit services
which are helpful for the financial stability. Financial stability is very important not only
for the businesses but also for the consumers. The businesses as well as the consumers
need the stability regarding the financial matters because without the stability no one
could be very innovative in the longer run.
BIBLIOGRAPHY
Wipro is an integrated corporation that offers a diverse range of products, solutions and services
in systems, software, consumer care, healthcare, lighting and infrastructure technology. We are
driven by our passion for quality and our commitment to customers. This drive has catapulted us
among the ten most admired companies in India. Through constant innovation and a people-first
attitude, we strive to assume leadership positions in all our businesses in the new millennium.
Premji planned to professionalize, diversify and expand his father’s business, which was already
valued at about $3 million. He immediately recruited top-notch managers from the renowned
Indian Institute of Management (IIM), where top graduates are also courted by blue-chip firms in
the West. “We were the pioneers in packaging for the mass market,” explains Premji. “We went
from bulk packs of vanaspati to [single-use] consumer packs.” The packaging innovation took
off, and the marketing and distribution network expanded into rural areas. At this point, the
company had no plans to go global. By 1971 business nearly doubled from when Azim Premji
took over.