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 Reliance Life insurance coverage Essay

" AGENCY RECRUITMENT AND CHANNEL ADMINISTRATION OF INSURANCE INDUSTRY”

With regards to

ICICI PRUDENTIAL LIFE INSURANCE Company. Ltd.

RAJKOT

A project report submitted in Partial Satisfaction of honor of MASTER OF BUSINESS ADMINISTATION Degree

Project Guide

Mister. Manoj Desai

Submitted Simply by:

Vipul Zala(118)�

Submitted To:

S. K. PATEL INSTITUTE OF ADMINISTRATION & LAPTOP STUDIES

GANDHINAGAR, GUJARAT

JULY, 2005

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PREFACE

In India insurance sector was totally reserved for public sector companies just like LIC, GIC, etc . Together with the opening up in the economy, a score of MNCs came in the market with Indian business houses leading to client friendly, healthy competition and competition in the insurance sector. Good old days have hot, where simply LIC agents were seen bumping doors of potential clients.

The policies sailed by the authorities insurance companies where primarily supposed to cover risk but in present market, the policies are experiencing predominantly a serious part of investment option with high rate of returning. The entire concept of insurance agent who also used to persuade his clients to buy the policy has evolved to insurance advisors whom design a total financial remedy for his client.

Through this project, the main objective is on " Funnel Management”. To get promoting staff like advisors, to advertise the insurance company, by huge collections turn over and optimizing profitability. One of the main challenge for any private corporations is to develop a strong sales team, since LIC who appreciated a monopoly in this sector before it had been opened to get private players has a network of 2, 40, 000 real estate agents where as ICICI Prudential Life insurance company has around 40, 000 advisors. It is not out of place to mention that " Attraction” has become one of many important managerial function to obtain good quality personnel (Employees) in optimal cost.

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ACKNOWLEDGEMENT

We are remarkably obliged to S. T. PATEL INSTITUE OF SUPERVISION & COMPUTER STUDIES intended for giving us the opportunity of doing our summer time project

We wish to exhibit our deep sense of gratitude and sincere due to our director Mr. Chinnam Reddy (SKPIMCS, Gandhinagar), who gave all of us the happy opportunity to keep on this project and to realize the potential of all of us which was right up until now hidden to all of us.

We likewise express our great indebtedness to our faculty members, of SKPIMCS for their continuous support, kind co-operation and productive suggestions over the period of time which has helped all of us to progress better specialist skills.

Every study requires a assistance of someone who may be working in that field. Firstly I would like to thank Mr. Pankaj Agrawal, Assistant revenue Manager, channel Development & Mr. Jignesh Bhatt, Revenue Manager, Rajkot Branch, of ICICI Prudential Life Insurance co. Ltd. To get providing me personally an opportunity to make use of a professional corporation, the ICICI Prudential Life insurance coverage Co. Limited. It needs the shades of numerous people to give it a final stage.

We would like to express our profound feeling of honor and as a result of our friends and our relatives, who presented us total fledged support and all those who knowingly or unknowingly helped us to fulfill the objective of the project.

Vipul Zala

S. K. Patel Institute of Management & computer research, Gandhinager

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EXECUTIVE OVERVIEW

The business of insurance relates to the security of economical value of assets. Insurance has become a key financial instrument to mobilize investments and savings and providing people who have financial strategies to cover their particular future needs. The concept of insurance agents is becoming more important as they have graduated to insurance advisors who also provide the finish investment intend to their consumers.

A project survey provides the advice about the general competitive environment and evolved the recent innovations and taking place in the...

Bibliography: |80

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