A Study on “A Business Development Strategies

Of Bajaj Finserv Health Limited”

Mr. Rishav Bir Department of BBA (H)

Reg No. 037804 of 2019-20

Eminent College of Management and Technology

Barbaria, Barasat,
Kolkata-700126

Dissertation submitted to the

Maulana Abul Kalam Azad University of Technology, West Bengal

Accredited ‘B++’ Grade by NACC

IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE

DEGREE OF

Bachelor of Business Administration

Under the guidance of Dr. Sourav Mazumder

Professor

Eminent College of Management and Technology

Kolkata-700126
 Eminent College of Management and Technology
(In Pursuit of Knowledge and Excellence)
Moshpukur Barbaria P.O. Jagannathpur Barasat,
Kolkata, West Bengal 700126

22This is to certify that this dissertation entitled

“A Business Development Strategies of Bajaj Finserv Health Limited”
has been submitted by Rishav Bir to the university .

Date: 10/06/2022 Controller of Examination

__EVALUATION CERTIFICATE

This is to certify that this dissertation has been evaluated

Internal Examiner External Examiner

Signature

Name

College
 Eminent College of Management and Technology

(In Pursuit of Knowledge and Excellence)

Moshpukur Barbaria P.O. Jagannathpur Barasat,
Kolkata, West Bengal 700126

DECLARATION BY THE CANDIDATE

I hereby declare that this dissertation entitled “Business Development Strategies of

Bajaj Finserv Health Limited” is a bonafide and genuine research work carried out by
me under the supervision and guidance of Professor Dr. Sourav Mazumder.

Date: 10/06/2022 Rishav Bir

Place: Barasat
 Eminent College of Management and Technology

(In Pursuit of Knowledge and Excellence)

Moshpukur Barbaria P.O. Jagannathpur Barasat,
Kolkata, West Bengal 700126

CERTIFICATE BY GUIDE
This is to certify that the dissertation entitled “Business Development Strategies of
Bajaj Finserv Health Limited” is a bonafide research work done by Rishav Bir in
partial fulfillment of the requirement for the degree of BBA(H).

Date: 10/06/2022 Dr. Sourav Mazumder

Place: Barasat Eminent College of Management & Technology
Kolkata-700126
 Eminent College of Management and Technology
(In Pursuit of Knowledge and Excellence)
Moshpukur Barbaria P.O. Jagannathpur Barasat,
Kolkata, West Bengal 700126

ENDORSEMENT BY THE HoD & PRINCIPAL

This is to certify that the dissertation entitled “Business Development Strategies of
Bajaj Finserv Health Limited” is a bonafide research work done by Rishav Bir under
the supervision and guidance of Professor Dr. Sourav Mazumder, Eminent College of
Management & Technology, Kolkata. 700126.

HOD PRINCIPAL
Amitava Ukil Sebobrata Chatterjee
Designation & Head Principal
Department of BBA (H) Eminent college of
Eminent college of management and Technology, management and
Kolkata: 700126 technology,
Kolkata: 700126
Date: 10/06/2022 Date: 10/06/2022

Place: Barasat Place: Barasat

 A Study on “Business Development Strategies
Of Bajaj Finserv Health Limited”

Table of Content
Chapter Topic Description Page No.

I Introduction 1-3

a) Concept
b) Strategy
c) Why did I choose the Topic

II Industry Profile 4

III Company Profile 5-6

1V Objectives of the study 7

V Literature Review 8

VI Research Methodology 9

VII Data Interpretation and 10 - 29

Analysis

VIII Observations and Findings 30

IX Limitations and 31
Recommendations
X Conclusions 32

XI Bibliography 33

XII Annexure 34 - 35
a. Questionnaire
CHAPTER 1 PAGE NO.1

Concept

“Business Strategy” is the combination of all the decisions taken and the actions
performed by the business or organizations to achieve their goals.
Network marketing is divided into three categories:

a. Single-tier: Single-tier, companies network marketing rewards sales

representatives for their own personal sales activities.

b. Two-tier: In a two-tier affiliate program, the only difference is the additional

tiers whereby marketers also earn a commission on a sale generated by the
people they referred to the program.

c. Multi-tier: It involves, hierarchical sales teams for selling the product directly
to the consumers and also recruiting additional sales representatives under their
supervision.

 Lead generation is the lifeblood of any company or organizations. We need the names
and contact details of the people who are most likely to be interested in our product or
service. Without creating leads, our business will die.

PAGE NO.2
Strategy
Customers are the lifeline of a company. Marketing mix is also a process of customer
satisfaction.

1.  Leverage Chatbot Conversations

2. Create Gated Content

3. Create a Value-Packed Newsletter

  4. Host an Event

5. Offer a Coupon or Discount

6. Provide a Premium Product or Free Trial

7. Optimize Your Website to Promote Your Lead Magnet

8. Optimize Your Social Profiles to Promote Your Lead Magnet

9. Pay to Promote Your Business on social media

10. Target Top-of-Funnel Keywords

11. Retarget People Who Have Engaged with Your Brand

 12. Create a Referral Rewards System

PAGE NO. 3
Why Did I Choose the Topic?

The reason why having a strategy is so important is because it gives business time to
get a sense of how they are performing, what their capabilities are, and these features
are able to help them grow in future.

Here are some reasons why having a strategy is important:

1. GUIDE
A well-defined business strategy will offer a guide on how the business is
performing internally. And also shows us how we perform against our
competitors.

2. TRENDS
It can examine the broader changes in market the broader changes in market
such as political, social or technological changes, and develops tactics so the
business can modify and develops to suit these future changes.

3. VISION
A business strategy creates a vision and direction for the whole organization. It
is important that all people within a company have clear goals and are following
the direction, of the organization.

4. COMPETITIVE ADVANTAGE
Finally, by creating a business strategy a company can create a competitive
advantage and ultimately understand about themselves.

CHAPTER II PAGE NO.4

Industry Profile

Bajaj Finserv Health Limited is a public company that was founded on July 5,
2019. It is a non-government company that is register with the Registrar of the
Companies in Pune. It has a paid-up capital of Rs. 25,000,000 and an approved
share capital of 50,000,000.

Bajaj Finserv Health Limited most recent Annual General Meeting (AGM) was
held on July 15, 2020, and its most recent balance statements was issued on
March 31st ,2020.

Anish Praful Amin, Rajagopalan, and Devang Pravin Mody are the directors of
Bajaj Finserv Health Limited.

HIGHLIGHTS:

1) A health-tech solutions business, aimed at improving the health outcomes of

the customers through smarter, connected and holistic care.

2) Introduces “Aarogya Care”, an industry first product, offering a wide range of

Personalized, Preventive and Prepaid Healthcare packages.

3) It aims to provide ease of access to qualify and affordable healthcare, anytime,

anywhere.

CHAPTER III PAGE NO. 5

Company Profile
Bajaj Finserv Health Limited (BFHL) it's India’s leading financial services
conglomerate a fully owned by Bajaj Finserv limited.
BFHL is a digital healthcare venture which mainly aims at improving the consumers
health through smarter, connector and comprehensive plans with this new venture the
company has entered into the healthcare ecosystem aiming to disintegrate the
healthcare system and make the healthcare experience easier and more reachable to
the customers
Products –
A} OT Loans.
B} Arogyacare.
C} Swasthacare.

OTLoans
It is a loan provided to the patient or their family members for OT charges in a Bajaj
Health partner hospital without any security deposit. It’s a 0% interest based loan with
just one time processing fee of 767.
Rs 650 processing fee

Arogya Care
It is a prepared healthcare package system which is operated through mobile it consists
of various types of components of healthcare ecosystem.it is like a personal health
assistant at fingertip it enables the customer to maintain health records digitally, which
will be integrated with national health id.
Benefits -
1. Health insurance cover.
2. In patient hospitalization.
3. ICU Boarding/Icu Room Rent.

PAGE - 6
Swasthya Care
It aims at giving customer centric solution to bridge the gap, challenges found by
consumers in healthcare ecosystem, leveraging the technological and financial service
capabilities they are reimagining the healthcare landscape to create a simple seamless
connected journey for consumers.
It covers 11 critical diseases, out of them 5 are mentioned below,
1. Cancer of specified severity.
2. Open chest coronary artery bypass grafting surgery.
3. First heart attack of specific severity.
4. Kidney failure requiring daily dialysis.
5. Major organ or bone marrow transplant.

Plan:
The plans are stated below -
Rs 499 for 50,000 health coverage.
Rs 999 for 75,000 health coverage.
Rs 1499 for 1,00,000 health coverage.
It covers financial protection to the customers family on ultimately death or on
diagnosis of critical disease.

COMPANY DETAILS

1} The company have already listed 112 hospital partners 200 operating hospital 3
laboratory and diagnostic Centre having 617 consumer touchpoints
2} Andover 9000 doctors raised on the platform.
3} The company was founded on 5th July 2019,
4} Board of directors - R Rajagopalan chairman,
5} Director and CEO: Devang Pravin Mody

Total loss Rs 6309.26 in lakhs in Financial Year 2020-2021.

(Source: www.bajajfinserv.in)

CHAPTER IV PAGE NO. 7

Objective of the Study

Present position of the company on the basis of:

1) To understand the perception of customers on service quality.
2) To understand the perception of customers on BFHL policy.
3) Reasons behind choosing Bajaj Health policy over other health policies.

CHAPTER V PAGE NO. 8

 Literature Review on “Business Development Strategy”

“Business Strategy” is the combination of all the decisions taken and the actions
performed by the business or organizations to achieve their goals.

Business development is the business unit within an organization that helps to create
long term growth and profitability through three main activities. These activities are
include, but are not limited to, creating meaningful partnerships, establishing business
in new markets and increasing the value of a current customer base.

According to Sir, Keith McFarland said, “There has always been lots of books out
there on how to run a big company but I couldn’t find one about hoe to maintain fast-
grow over the long-term. So, I studied the companies who had done it to learn their
lesson.”

According to Sir, Jim Stengel (Former Global Marketing Officer, Proctor & Gamble)
said “What we really need is a mindset shift that will make us relevant to today’s
consumers”.

Business Development, Strategic Management and Technology is a key success

for research. Researchers select different techniques in the literature review
process in order to collect and analyze academic literature related to the research
aim, the objectives, the nature of the topic and the research questions .

CHAPTER VI PAGE – 9
 Research Methodology

Research Method: Case Study Approach

Study unit: BFHL (Bajaj Finserv Health Limited)
Sample Size: 50
Sampling Method:
i) Primary Data has been collected through Online interview method and
Sample region is North Kolkata region.

Data Analysis:
Statistical Tools and Technique:
Collected primary data are analyzed with the help of statistical table and charts.
Period of study: Two months from 1st Nov 2022 to 31st Dec 2021

Limitations:
1}Less Time Period
2} Less number of respondents
3} Only Primary Data

CHAPTER VII PAGE – 10

 Data Interpretation and analysis

1) Which features that attracts the customer towards the BFHL?

Reasons Number of customers

A} Zero Percent Interest 10
B} Monthly Installments 12
C} Both 28

30

25

20
No. of Customers

15

10

Reason for choosing BFHL

0% Intrst EMI Both

PAGE – 11
2} Which customer BFHL usually target for their EMI?

Category of Customers Number of Customers (in %age)

a) Poor 8
b) Rich 12
c) Middle-class people who able to 30
repay the monthly EMI

Target Customers

PP RP MCP

Here,
PP stands for Poor people
RP stands for Rich people
MCP stands for Middle-class people who able to repay the monthly EMI.

PAGE – 12
3} In which type of customer's BFHL give more attention?

Types Of Customers Number Of Customers (in %age)

a) Retaining existing customers 10
b) Acquiring new customers 15
c) Both 25

Numbers of customers

REC ANC Both

Here,
REC stands for Retaining existing customers
ANC stands for Acquiring new customers.

PAGE – 13
4} Among which BFHL believe for their self -development.

Factors Number of Employees agree

a) Building Awareness 10
b) Customers Satisfaction 20
c) Both 20

Number of employees agree

60

50

40

30

20

10

0
Factors

Series 1 Series 2 Series 3

Here,
Series 1 denotes the Building Awareness
Series 2 denotes the Customers Satisfaction
Series 3 denotes the Both

PAGE – 14
5} Which is more attractive for BFHL customer to repaying the EMI money?

Methods Number Of Customers

a) Cash 13
b) Automatically debited from the 37
account

Number Of Customers
60

50

40

30

20

10

0
Category 2

Series 1 Series 2 Series 3

Here,
Series 1 denotes Cash method
Series 2 denotes Automatically debited from the account.

PAGE -15
6} As per the BFHL’s Policy, what is the average amount does every EMI
customer gets?

AMOUNT No. Of Customers Agree (in %age)

a) 45000 12
b) 60000 22
c) 75000 16

Number of customers Agree

Rs.45000 Rs.60000 Rs.75000

PAGE – 16
7} As per the strategy of BFHL which is more useful for the customers?

Policies Number of Customers (in %age)

a) Get the EMI if their invoice is 13
above 12,000
b) Get the credit value upto 19
4,00,000
c) Both 18

Number Of Customers

EMI-12000 Credit-4 lac Both

PAGE – 17
8} Is the hospitals plays an important role for BFHL to convert their new
EMI customers?

Boolean Number of Customers

a) Yes 36
b) No 14

40

35

30

25

20

15

10

Series 1 Series 2

Here,
Series 1 denotes, Boolean type Yes
Series 2 denotes, Boolean type No

PAGE – 18
9} What are the procedures by which BFHL measures that the customers
are independent to repay the money?

Procedures No Of Customers
a) By downloading the Bajaj finserv 5
app in customer device
b) By checking the cibil score 7
c) Both 38

Number Of Customers
40

35

30

25

20

15

10

0
Procedure

Series 1 Series 2 Series 3

Here,
Series 1 denotes …. By downloading the Bajaj finserv app in customer device
Series 2 denotes …. By checking the civil score
Series 3 denotes …. Both

PAGE – 19
10} What makes BFHL customers more satisfied?
 Reasons No Of Customers (in %age)
a) Instant EMI approval 15
b) Good Executive 7
c) Both 28

No.of Customers

IMA GE Both

Here,
IMA stands for Instant EMI Approval
GE stands for Good Executive

PAGE -20
11} Why customers choose BFHL over other companies in respective of
health policies?

Reasons Number of Customers (in %age)

a) Trustworthy 12
b) EMI facility available all over the 10
country
c) Both 28

Reasons

Trustworthy

Both

EMI

PAGE – 21
12} Which strategy does BFHL follows for their timely EMI payment?

Procedure Number of Customers

a) SMS reminder 16
b) Call reminder 5
c) Both 29

Procedures
35

30

25

20

15

10

0
Category 2

Series 1 Series 2 Series 3

Here,
Series 1 denotes …. SMS reminder
Series 2 denotes …. Call reminder
Series 3 denotes …. Both
PAGE – 22
13} Does BFHL ask for extra charges from their customers for late EMI
payment?

Boolean Number of Customers

a) Yes 40
b) No 10

Number of Customers
45

40

35

30

25

20

15

10

0
Category 2

Series 1 Series 2

Here,
Series 1 denotes … yes
Series 2 denotes … No

PAGE – 23

14} How would rate the company’s overall service experience?

Ratings Number of Customers (in %age)
a) 3 to 4 6
b) 4 to 5 27
c) 5 17

Number of Customers

3 to 4 4 to 5 Equal to 5

Here the maximum number of customers rated the Bajaj service between 4 and 5.

Page – 24
15} How would you rate company’s service advisors in dealing with your
enquiry or doubts regarding the policy?

Ratings Number of Customers (in %age)

a) 3 to 4 15
b) 4 to 5 28
c) 5 7

Number of customers

3 to 4 4 to 5 5

Here,
The majority of customers rated the service advisor’s department of Bajaj Health
between 4 to 5, but also a bit high in the rating sections 3 to 4. Hence it has to
improve the advisory department.

Page – 25
16} What do you think about the update of the service? (Survey based
analysis)

Review No Of Customers
a) Need to Update 12
b) Already Updated 38

Number Of Customers
40

35

30

25

20

15

10

0
Review

Series 1 Series 2

Here,
Series 1 depicts the numbers of customers who thinks that the service needs to
be updated in certain fields.
Series 2 depicts the number of customers who believe that the service is already
updated.

Page – 26
17} What type of update we need to have in comapny policy to satisfy your
demand?

Demands No of Customers
a) EMI duration should extend 35
b) Amount should be exceeded more 7
than 4lakh
c) Should available in each and every 8
hospital

DEMAND
40

35

30

25

20

15

10

0
no.of custo

EMI AMOUNT EVERY HOSP

Page – 27
18} How can you identify” BFHL” superior than other’s company EMI policy?

Reasons Number of Customers (in %age)

a) Zero percent interest 18
b) Instant Approval 7
c) Both 25

Number of customers

0%Interest Inst Appr Both

Here,
Many customers believe in both i.e., Zero percent interest policy and instant
approval policy.

Page – 28
SWOT Analysis of Bajaj Finserv Health Limited
(BFHL)

Here, S in SWOT stands for “Strength”

W stands for “Weaknesses”
O stands for “Opportunities”
T stands for “Threats”

• Strengths of our BFHL Policy are:

1. Zero Percent Interest Policy Scheme
2. Behavior of the Service Advisor
3. Quick Approval Mechanism
4. Goodwill and Brand Valuation

Page – 29
 Weakness of the BFHL are:
1. Should extend their availability in more and more hospitals through tie-ups.
2. Must increase the credit amount up to 7 lakhs from 4 lakhs.
3. Also increase the marketing level through ads, campaigns etc.
4. Should improve the connectivity with more and more customers.

 Opportunity of BFHL are:

1. Brand image
2. Market Reputation
3. Good amount of Share Capital.
4. Good Policy Scheme.

 Threat for BFHL are:

1. Other companies who have health policy scheme.
2. Innovators with new mind-set.
3. Those Hospitals who reject the BFHL policies.
4. The Sasthosathi scheme specially in West Bengal.

CHAPTER VIII Page – 30

Observations And Findings
 Maximum percentage of the customers are satisfied with the health scheme of
BFHL. Specially they have the interest in zero percent scheme.
 Majority of consumers are satisfied with the 24x7 hours customer support
system of BFHH.
 Services should be more updated for future according to our consumer.
 Majority of customers think that some updates need in the policy for example,
they want to extend the EMI duration that is up to 12 months.
 Some of the customers think that amount value needs to be increase up to
5lakhs from 4lakhs.
 The scheme should be available in most of the hospitals so that the customers
get to know more about the policy.
 Majority Customers think that “Bajaj Finserv Health Limited “is unique on the
basis of
a) Zero percent interest policy.
b) “24x7” hours of customer support system.
 Majority of customer satisfy with the variety of our customized software and
payment procedure and also the quick service.
CHAPTER – IX PAGE – 31

Limitations and Recommendations

1. Limitation
 The highest amount cap is only up to 4lakhs.
 The sample size was limited only to fifty numbers of respondents, which is
small for the objective of the study.
 Some of the customers were reluctant to provide the required information.
 Some information is rigid and complex.
 Unfortunately, as it is a pandemic session occurred due to COVID-19 my
research has not been completed for the Natural disaster, I desired more
consumer to visit but I cannot.

2. Recommendations
 The policies in BFHL have already up-to-date.
 BFHL should be more active on acquiring the customers in the competitive
market to survive and to grow.
 BFHL needs to advertise and marketing more about their scheme so that the
customer aware about the policies of BFHL.
 It should Improve customer ‘touch point’ (e.g., website navigation)
 BFHL needs more market research to measure consumer satisfaction

CHAPTER - X Page – 32
Conclusion
 The project gave me tremendous opportunity to have a hand-on-hand
experience of project study.
I have dedicated to portray the best profile and tried to blend my thoughts in
right possible manner.
 Here from the project, I came to know that how a corporate works internally,
how they expand the marketize in the field.
 For the organization view point the project will play a significant role and I
hope this project will contribute to its advantage
 However, with some more time, this project could have been realistic
 In light of the above my humble request to all my readers is to view this enter
project as an expression of my academic thoughts
 After conducting market research for BFHL organization, we come to know
different needs of consumer, their valuable suggestions, response to the different
questions.
With this information we can conclude that there is a good market awareness
about “BFHL”.
 Higher satisfaction level of customer for BFHL was reputation, goodwill and
services.
 The project which was given to me is “Business Development Strategy of Bajaj
Finserv” I have tried to give my level best and this is a result of an honest effort of
mine. This recommendation which I made is little but I will be happy if that helps
to the organization.

CHAPTER – XI Page – 33
Bibliography
References:

 MAGAZINE
Business & Economy Magazine

 Website and links:

https://www.referenceforbusiness.com/history2/82/Bajaj-Auto-
Limited.html
https://research-methodology.net/research-methodology/research-
process/
https://www.bajajallianz.com/health-insurance-plans.html
https://economictimes.indiatimes.com/bajaj-healthcare-ltd/
infocompanyhistory/companyid-49966.cms
CHAPTER – XII Page – 34

Questionnaire
Student Name: Rishav Bir
Mobile: 9330065598
email id: rishavbir305@gmail.com

Major research questions:

1) Which features that attracts the customer towards the BFHL?
2) Which customer BFHL usually target for their EMI?
3) In which type of customer's BFHL give more attention?
4) Among which BFHL believe for their self -development.
5) Which is more attractive for BFHL customer to repaying the EMI money?
6) As per the BFHL’s Policy, what is the average amount does every EMI
customer gets?
7) As per the strategy of BFHL which is more useful for the customers?
8) Is the hospitals plays an important role for BFHL to convert their new EMI
customers?
9) What are the procedures by which BFHL measures that the customers are
independent to repay the money?
10) What makes BFHL customers more satisfied?
11) Why customers choose BFHL over other companies in respective of health
policies?
12) Which strategy does BFHL follows for their timely EMI payment?
 Page – 35

13) Does BFHL ask for extra charges from their customers for late EMI payment?
14) How would rate your overall service experience?
15} How would you rate our service advisors in dealing with your enquiry or
doubts regarding the policy?
16} What do you think about the update of the service? (Survey based analysis)
17} What type of update we need to have in our policy to satisfy your demand?
18} How can you identify” BFHL” superior than other’s company EMI policy?

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