Index of Paper Presentations for the Parallel Sessions - Academy of ...

H 0 : There is no significant difference in the opinion of agents in Bangalore and Kolar Rural about the insurancecompanies interest level in rural business.H 1 : There is significant difference in the opinion of agents in Bangalore and Kolar Ruralabout insurance companies interest level in rural business.The difference in the opinion across two groups was tested with Independent t-test and results tabulated are asfollows:Table 12: Results of Independent t-testCategory N Df t-test SignificanceLifeYesInsurance32Companies Interest inNoRural Business168Total 200198 -1.937 0.054Significance of t-test is 0.054 that is less than 0.10. At 10 percent level of significance, the null hypothesis is rejectedand it can be concluded that there is significant difference in the opinions of agents of Bangalore and Kolar Ruralabout the life insurance companies interest in rural business.ConclusionThe penetration level of the existing insurance players in the rural market is not commendable. The reasons asanalyzed from primary and secondary data for low penetration in rural areas are listed below. In order to boost volume of business, the insurance companies are resorting to big ticket policies.Sale of low ticket policies in rural areas is not given importance. Except LIC of India, no other company has exclusive rural centric products.