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Volume & Issue no: Volume 6, Issue 6, June 2017

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Title:
STUDY OF AWARENESS OF CONSUMERS TOWARDS GENERAL INSURANCE SCHEMES IN INDIA: WITH SPECIAL REFERENCE TO ODISHA
Author Name:
Dr. Puspalata Mahapatra
Abstract:
ABSTRACT Though Insurance is a common phenomenon and exits since so long 200 years back in India, still the awareness of the people towards this is very low and negligible. As it is well understood that India as well as Odisha has vast potential for Insurance and this opportunity can be attainted, if proper and adequate awareness created or generated within the people. Creation of awareness among the people about the insurance can create a huge array of opportunity and can give a bigger contribution both by increasing the penetration and density of Indian Insurance market.Though insurance both life and non-life plays a major role in every body’s life by giving security against risk and uncertainty but it is not widely accepted by Indians. Even today most of Indians taking insurance as an investment option. In this connection it is a big and complex tax for them to create awareness about insurance concept, its importance and significance, different schemes & products and about different companies. In this study attempt has been made to identify the level of awareness of Odisha’s people regarding general insurance.It is a study of the awareness of Odisha people about general insurance and about different schemes under it. Though this study attempt has been made identify the determinants under the demographic profile of policy holders, which make them aware regarding general insurance schemes. This study also relevant from the point of view of analysing the significant association between different segments of demographic profile and awareness regarding general insurance schemes. The findings of the study will help the Insurance Companies to focus on this aspect to increase their market share, level of penetration, density which ultimately helps the growth of India as well as Odisha.To actually understand this, a primary survey was being conducted to find out the level of awareness of the individual on the basis of their demographic profile. Attempt has been made to know either there is any significant association level of awareness and different determinants under demographic profile like Gender, Living place, Education, Age, Income and Occupation or not. KEY WORDS: Consumer, General Insurance, Awareness, Adoption, Demographic Profile
Cite this article:
Dr. Puspalata Mahapatra , " STUDY OF AWARENESS OF CONSUMERS TOWARDS GENERAL INSURANCE SCHEMES IN INDIA: WITH SPECIAL REFERENCE TO ODISHA" , International Journal of Application or Innovation in Engineering & Management (IJAIEM) , Volume 6, Issue 6, June 2017 , pp. 204-215 , ISSN 2319 - 4847.
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