THE INTERNATIONAL INSTITUTE OF

PLANNING AND
MANAGEMENT

SUMMER INTERNSHIP REPORT

“MAX NEW YORK LIFE

SUBMITTED BY:

FARAZ
.A. MAKHANI

PGP/SS/08
-10/HR

ROLL NO. 14

IIPM

CHENNAI
CHANNEL DEVELOPMENT AT MNYL.

“CHANNEL DEVELOPMENT AT MAX

NEW YORK LIFE”
CHANNEL DEVELOPMENT AT MNYL.

CERTIFICTE OF APPROVAL

The following Internship Report Title “Channel Development at MNYL”

is hereby approved as certificate studies in management carried out in a
manner satisfactory to warrant its acceptance as a prerequisite for the
award of Post Graduate in Business Management for which they have
been submitted. It is understood that by this approval the undersigned do
not necessarily endorse or approve any statement made, opinion
expressed or conclusion drawn therein but approve the summer Project
only for the purpose it is submitted.

Internship Report Examination Committee for evaluation of Internship

Report.

Name Signature

1. Faculty Examiner _________________

_________________

2. PG Summer Project Co-coordinator___________________

___________________
CHANNEL DEVELOPMENT AT MNYL.

CERTIFICATE FROM SUMMER INTERNSHIP GUIDE

This is to certify that Mr. FARAZ .A. MAKHANI a student of Post

Graduate Degree in Business Management has worked under our
guidance and supervision. This Summer Internship Report has the
requisite standard and to the best of my knowledge it is his original work.

Project Guide

Date:
CHANNEL DEVELOPMENT AT MNYL.
ACKNOWLEDGEMENT

It gives me great pleasure, having done a project on an interesting and

knowledgeable topic like “Channel development at Max New York.”

Marketing Management and Human resources are topics which demand

for in depth study and a lot of dedication and hard work. This project has
been a great experience. This project has immensely enlarged my
knowledge as far as academics are concerned. There are many people
associated with this project without which this project would not have
reached its successful completion.

I sincerely thank Prof. R. Krishnan (Dean, IIPM) who has given me an

opportunity to show my skills and bag a great source of experience. A
special thanks to Prof. Jimesh Gandhi (SMG Department, IIPM) who
guided me to opt for MNYL.

I would like to thank Mr. Jolly Jos (Branch Manager, MNYL) who permitted
me to do this project in Max New York Life successfully. I would like to
thank to Mr. Santhosh Pallikonda (Sales Manager, MNYL) for his
inspiration, keen interest, constant supervision and ever willing help
throughout the course of this study.

I would also like to take this opportunity to thank all the people of the firm
I contacted who took out valuable time to answer my queries and gave me
full information about the insurance industry and Max New York Life.

I extend my sincere gratitude towards my parents, who have always

encouraged me and given great support. They have been a great source
of motivation in the completion of my project.

Above all I thank the almighty for my successful completion of this project.
CHANNEL DEVELOPMENT AT MNYL.

PREFACE

Indian insurance industry is emerging rapidly after year 2000. To survive in

this highly competitive scenario, managers are being pressured to
improve quality, recruit quality and skilled people and eliminate
inefficiency. The collective efforts of the employer, managers and other
relative people assume relevance in this context. And this is where
marketing management and human resources play important role.

Recruitment is very important in today’s scenario. But still it is ignored and

considered as a secondary aspect. In case of insurance industry
recruitment only decide success or failure of company.

I have made an attempt to study this aspect of Insurance industry in my

project. In this project, recruitment for developing channel at Max New
York Life is considered. I have tried to find out how exactly recruitment is
very important for this firm as well as this industry, which are the different
strategies firm use to recruit quality people and so on. It is more
qualitative rather than a quantitative data.

To get knowledge of above question and to fulfill the requirements for my

project on “Channel Development at Max New York Life”, I have worked in
MNYL and searched some internet sites.
CHANNEL DEVELOPMENT AT MNYL.
TABLE OF CONTENTS

Acknowledgement
5

Preface
6

Table of Contents
7

List of Abbreviations
9
CHANNEL DEVELOPMENT AT MNYL.
SECTION A: INTRODUCTION
10

A.1 ABOUT INSURANCE INDUSTRY 11

A.2 ABOUT MAX NEW YORK LIFE 13

A.3 ABOUT PROJECT 23

SECTION B: CHANNEL DEVELOPMENT STRATEGIES 26

B.1 ELIGIBILITY MODEL 27

B.2 DEVELOPMENT STRATEGIES 32

SECTION C: CHANNEL DEVELOPMENT PROCESS 34

C.1 NAME GATHERING IN-P200 36

C.2 SHORTLISTING 36

C.3 APPROACHING 37

C.4 INITIAL SCREENING 37

C.5 NAT 37

C.6 CAREER SEMINAR 38

C.7 CAREER INTERVIEW 38

C.8 FCS 38

C.9 CONTRACT 38

SECTION D: CONCLUSION 39

D.1 KEY LEARNINGS

40

D.2 EXPERIENCE 41

D.3 CONLCLUSION 42

D.4 RECOMMENDATIONS 43

D.5 BIBLIOGRAPHY

APPENDIX
CHANNEL DEVELOPMENT AT MNYL.

LIST OF ABBREVIATIONS

MNYL Max New York Life

AA Agent Advisor

PO Personal Observation

NAT Numerical Ability Test

IRDA Insurance Regulatory & Development

Authority

CoI Centre of Influence

ATP Annual Target Premium

MDRT Million Dollar Round Table

CSR Corporate Social Responsibility

FCS Fundamental Career Seminar

SM Sales Manager
CHANNEL DEVELOPMENT AT MNYL.

Section A
INTRODUCTION
CHANNEL DEVELOPMENT AT MNYL.
A.1 About the Insurance Sector in India

• Insurance sector is an opportunity for India.

• This business is growing at the rate of 18-22 per cent annually.
• Presently it covers market of RS.450 billion.

• Together with banking sector it contributes about 7% to GDP.

• Gross premium collection is about 2% of GDP.
• Still 80% of Indian population is without life insurance.
• This is an indicator that growth potential for the insurance sector is
immense.

There are two legislations that govern the sector-

The Insurance Act- 1938 The IRDA Act- 1999.

Table shows the current market players in the life Insurance Industry
(Source IRDA).

Sr. No. Name of the Company

1 Bajaj Allianz Life Insurance Co. Limited
2 Birla Sun Life Insurance Co. Ltd
3 HDFC Standard Life Insurance Co. Ltd
4 ICICI Prudential Life Insurance Co. Ltd
5 ING Vysya Life Insurance Co. Ltd.
6 Life Insurance Corporation of India
7 Max New York Life Insurance Co. Ltd
8 Met Life India Insurance Co. Pvt. Ltd.
9 Kotak Mahindra Old Mutual Life Insurance Ltd.
10 SBI Life Insurance Co. Ltd.
11 Tata AIG Life Insurance Co. Ltd.
12 Reliance Life Insurance Co. Ltd.
13 Aviva Life Insurance Co. India Pvt. Ltd.
CHANNEL DEVELOPMENT AT MNYL.
14 Sahara India Life Insurance Co. Ltd.
15 Shriram Life Insurance Co. Ltd.
16 Bharti AXA Life Insurance Co. Ltd.

PREMIUM COLLECTIONS:

A.2 ABOUT MAX NEW YORK LIFE (COMPANY PROFILE)

• Max New York Life Insurance Company Ltd. is a joint venture

between New York Life and Max India Limited.
• New York Life is a Fortune 100 company and Max India Limited is
one of India's leading multi-business corporations.
• The company has positioned itself on the quality platform.
CHANNEL DEVELOPMENT AT MNYL.
• It has developed a strong corporate governance model based on the
core values of excellence, honesty, knowledge, caring, integrity and
teamwork.
• The strategy is to establish itself as a trusted life insurance
specialist through a quality approach to business.
• In line with its values of financial responsibility, Max New York Life
has adopted prudent financial practices to ensure safety of
policyholder's funds.
•
• The Company's paid up capital is Rs. 657 crore, which is more than
the norm laid down by IRDA.
• Max New York Life has identified individual agents as its primary
channel of distribution.
• The Company places a lot of emphasis on its selection process,
which comprises four stages –

Screening,

Psychometric test,

Career seminar

Final interview.

• The agent advisors are trained in-house to ensure optimal control on

quality of training.
• Max New York Life invests significantly in its training programme.
• Each agent is trained for 152 hours as opposed to the mandatory
100 hours stipulated by the IRDA before beginning to sell in the
marketplace.
• Training is a continuous process for agents at Max New York Life and
ensures development of skills and knowledge through a structured
programme spread over 500 hours in two years.
CHANNEL DEVELOPMENT AT MNYL.
• This focus on continuous quality training has resulted in the
company having amongst the highest agent pass rate in IRDA
examinations and the agents have the highest productivity among
private life insurers.
• It now has 26 life insurance products and 8 riders that can be
customized to have more than 400 products.
• 201 agent advisors have qualified for the Million Dollar Round Table
(MDRT) membership in 2005.
• MDRT is an exclusive congregation of the world’s top selling
insurance agents and is internationally recognized as the standard
of excellence in the life insurance business.

Life @ MNYL

• Max New York Life is a young and vibrant organization, proud of the
excellent track record it has established in a relatively short span of
time. We are one of the most ambitious and aggressive players in
life insurance. A key factor in our success has been our ability to
attract some of the most talented professionals from different
industries.
CHANNEL DEVELOPMENT AT MNYL.
• We pride ourselves on being a learning organization that encourages
personal and professional development. We are serious about work
and having fun. A dynamic, flexible and fast paced work
environment brings out the best in each one of us. By developing
structure, systems and a workplace culture that provides
challenging jobs, rewards performance and delivers opportunities
continuously, Max New York Life strives to get the best out of its
most valuable asset - its people.

• The knowledge and inputs given at MNYL is immensely useful to

survive in the industry and also for other management areas.

REWARDS AND RECOGNITION

CHANNEL DEVELOPMENT AT MNYL.

M
DRT
Ex.
Council
Paul Colgan
Trophy

Centurion

Agent of the Year

Paid Cases, FYC,

Persistency, Rider,
Referral and CEIP Leader
Career Foundation Club

Career Producer Award

Career Success Award

Hi-Flier

Ten-A-Monther

Premium Leader
CHANNEL DEVELOPMENT AT MNYL.
PRODUCTS OF MNYL

• Whole Life Plans

• Unit Linked Insurance Plans

• Endowment Plans

• Children Plan

• Money Back Plans

• Pension Plans

• Health & Accident Related Riders

Vision
To become the most admired life Insurance Company in India.
CHANNEL DEVELOPMENT AT MNYL.
Mission
To become one of the top quartile life Insurance companies in India.

Be a national player.

Be the brand of the first Choice.

Be the Employer of the Choice.

Become principal of choice for agents.

Values
This vision to become India's most admired life insurance company
will be realized through our unique set of values, which are as
follows:
CHANNEL DEVELOPMENT AT MNYL.

Achievements

 First company to provide free look period of 15 days to the

customer. This was later made mandatory by the regulator
 First company to start toll free line for agent services
 First and the only life insurance company in India to implement Lean
methodology of service excellence in service industry
 First life insurance company in India to provide various services to
the agents and customers over phone
 First Indian life insurance company to start service center at the
regional level
 First life insurance company in India to be awarded ISO 9001:2000
certification
 Top five most respected private life insurance in India according to
Business World survey.

 Continuous presence in Top 50 MDRT global list.

CHANNEL DEVELOPMENT AT MNYL.
CSR

Max New York Life has been instrumental in changing the paradigm of life
insurance in India. It is the first life insurance company in India to
introduce cause related marketing.

Children are at the very heart of Max New York Life's strategy. SOS
Children's Villages of India is internationally recognized for its work in
giving underprivileged children a wholesome life. The mission of SOS is "to
help orphaned and abandoned children, by providing them with a family, a
permanent home, education and strong foundation for an independent
life." Its mission ties in with Max New York Life's philosophy of helping
people secure the future of their near and dear ones.

The company donates a part of the total money collected on all policies
sold, to SOS Children's Villages of India at the end of the year.

MANAGEMENT HIERARCHY
 CHANNEL DEVELOPMENT AT MNYL.

BOARD OF
DIRECTORS

Mr. Analjit Singh

Chairman,
Max India Limited
Mr. Anuroop (Tony)
Singh
Vice Chairman,
Max New York Life Insurance
Mr. Rajesh Sud
CEO & Managing Director,
Max New York Life Insurance
Mr. Rajit Mehta
Executive Director & Chief Operating
Officer,
Max New York Life Insurance
Mr. John Harrison
Director,
Max New York Life Insurance
Mr. Richard Mucci
Director,
Max New York Life Insurance
Dr. S. S. Baijal
Director,
Max New York Life Insurance
Dr. Omkar Goswami
Director,
Max New York Life Insurance
Mr. Rajesh Khanna
Director,
Max New York Life Insurance
CHANNEL DEVELOPMENT AT MNYL.

Management Team

Rajesh Sud
Managing Director and CEO,
Max New York Life
Rajit Mehta
Chief Operating Officer
Anil Mehta
Senior Director - New Markets SBU
Sunil Kakar
Senior Director & Chief Financial Officer
Ajay Seth
Senior Director- Legal & Compliance
Debashis Sarkar
Senior Director & Chief Marketing Officer
John Poole
Appointed Actuary
CHANNEL DEVELOPMENT AT MNYL.
A.3 ABOUT PROJECT

The main objective of the “Channel Development” is to recruit quality

agent advisors (AA) for the company for providing life Insurance solutions
to the customers. AA plays a vital role in the growth of company with
respect of company’s earnings as well as they create value for the
organization after achieving some milestones. AA are integral part of the
team and sales manager assigned to them help them to groom them in
terms of personality development, selling skills and handling objections of
customers.

Benefits of Becoming AA for MNYL:

Company’s Expectation from AA:

CHANNEL DEVELOPMENT AT MNYL.
• Regular input activity.

• Follow the sales process.

• Achieve sales targets.

• Attend training programme.

• Participate in weekly reviews.

• Follow the MNYL ethics and business standards policy.

JOB DESCRIPTION
CHANNEL DEVELOPMENT AT MNYL.
I was placed in the recruitment section of channel development at MNYL. I
had to recruit agent advisors for the organization by following the steps
involved in the channel development process. I was paid a commission for
every agent advisor who undergoes the screening process and clears the
agent advisor examination.

It was a pleasant job as it had no work pressure and extremely flexible

working hours. I had a great sales manger to assist me all throughout.

Following are the steps undergone in my job:

 Making a list of known capable people and giving them a call over
phone and fixing an appointment with a senior officer.

 Taking further contacts from the call-list in the form of references.

 Identification of potential candidates to be contracted as agent

advisors.

 Calling upon the potential candidates and explaining the business

opportunity to them.

 Enable the candidates to talk to a higher authority and undergo initial

screening.

 Get necessary forms filled by the candidates and collect supplementary

documents like education proof, identity proof, date of birth proof etc.
CHANNEL DEVELOPMENT AT MNYL.

Section B

CHANNEL
DEVELOPMENT
STRATEGIES
CHANNEL DEVELOPMENT AT MNYL.
B.1 ELIGIBILTY MODEL

From this eligibility model company judge prospective person. The

company follows unique eligibility criteria for AA selection by which
company is able is to always justify its mission. The basic objective of
having an eligibility model for recruitment is to have good retention and
greater effectiveness in the delivery of service.

• Four criteria’s for AA selection

1. 25 plus years of age:

This age shows attainment of maturity and responsibility. People are

more consistent in this age.

2. Married:

Married people have more eager to earn money. Family pressures

increase responsibility and secondly customers are convinced more by the
stability of a married AA.

3. Staying in the same city for more than 5 years:

Person who stays more than 5 year has huge natural market which
helps him to get more business in short period.

4. Graduate:

Graduate people have basic skills like communication skills, numerical

ability, I.P relation, convincing abilities etc. so it is easy to teach them
further.

• Other criteria for AA selection:

1. Financial stability:
CHANNEL DEVELOPMENT AT MNYL.
MNYL is focuses on classes and not on masses thus they select strong
agent advisors.

2. To have a rich and active social circle:

It helps to get higher case rate and case size. Also the chances of policy
lapsing can be less and renewals can be more.

3. Greed for money:

Firm selects advisors who understand the language of commission.

Because people who want fix amount as their earnings are not suitable for
this business.

4. Independent:

MNYL select people who want to be entrepreneur. Housewives or brokers

who want flexible hours for work are prospective person for this business.

5. Persuasion:

He should be persuasive in nature because the AA needs to follow up on

regular basis with prospective and new clients without being a nuisance
value.

6. Excellent interpersonal skills:

Because developing and maintaining good relations can get policies.

Secondly since most of the insurance companies provide a plethora of
similar products, sales depend on the convincing ability of the AA and the
rapport the AA is bale to build. Also results in C of I’s.

Work Profile
This is an entrepreneurial opportunity with flexible working hours and the
potential to earn unlimited income without any capital investment. As an
agent with Max New York Life, you are a financial advisor,
CHANNEL DEVELOPMENT AT MNYL.
businessperson and your own boss. The only limit to your growth is your
own imagination and drive.

The Role:

• Identify prospects and conduct need analysis

• Provide customized solutions for long term financial protection and
wealth creation
• Close sales
• Deliver the policy
• Provide after sales service and build references for future sales

Benefits
A career at Max New York Life has innumerable advantages. With low start
up investment you can become a part of a world-class organization and
make a positive difference to people’s lives.

Our agents sell more policies and make more money than agents of any
other life insurance company. The financial rewards are in the form of

• Commissions on new sales

• Ongoing renewal commissions
• Performance linked bonus
• Referral commissions
• Training reimbursement
 CHANNEL DEVELOPMENT AT MNYL.

The SIX Differentiators

1 Our Selection Process

Our selection process is designed to help the candidate and the

organization make a decision in mutual best interest. The first step in the
process is an initial interview followed by a test of numerical ability.
Candidates who make the cut are invited to attend a career seminar. The
procedure facilitates a process of discovery, as both sides develop an
understanding of each other’s profile and requirements. The final stage in
the selection process is an assessment of the candidate's natural market
and potential for growth.

2 Our Training Program

Max New York Life has the finest training program for agents in the industry.
We run training and development programs for agents throughout their
career. The training consists of a two-year formal classroom based program.
Max New York Life has two full-time professional trainers in each office
whose sole job is to train and guide new agents.

The success of our training programs owes a lot to the strength of our
partner, New York Life. The training program developed by New York Life in
the United States is widely recognized as the best in the insurance industry.
We have customized this outstanding program for the Indian market.

In the United States, New York Life had more members in the Million Dollar
Round Table, the worldwide organization of top professionals in the
insurance industry, for 50 consecutive years. Since 2001, Max New York Life
has had more qualifiers for the prestigious Million Dollar Round Table than
all the other private sector insurance companies taken together.
CHANNEL DEVELOPMENT AT MNYL.
5 The Agent's Contract

The Agent's Contract is designed to attract efficient professionals and

retain them for a long time by compensating them generously. As an
agent you can count on the support of Max New York Life at all times to
help you earn a good income today and create a secure retirement for
tomorrow.

B.2 DEVELOPMENT STRATEGIES

Management team has developed certain strategies in order to expand

channel distribution network. These models are followed across the
country uniformly and top management feels that these rules are the
building block of MNYL’s success in India as well as across the world.
There are 2 basic principles that are required in order to execute these
strategies such as

1) Prospecting: Identify the right person who fits in the eligibility model.

2) Selection: Select them for further plan of actions.

• RULE OF 31

Rule of 31 is associated with the daily activities which are followed to

recruit quality advisors. It says that everyday collect at least 3 names of
the prospective AA and do 1 screening every day.
CHANNEL DEVELOPMENT AT MNYL.

• Ways of Name Gathering

There are several ways for gathering names in order to follow rule of 31.

• Natural Market

• Personal Observation

• Nominator Call

• Centre of Influence (CoI) Call

CHANNEL DEVELOPMENT AT MNYL.

Section C

CHANNEL
DEVELOPMENT
PROCESS
CHANNEL DEVELOPMENT AT MNYL.
Flow Based approach to Channel Development Process
Start

Name Gathering in P200

Short listing

Contacting

NO
Intereste End
d?
YES

Initial Screening

NAT

Career Seminar & P200

NO

Intereste
End
d?
YES

Career interview

FCS

NOT CLEARED
IC-33 ? Reappear

CLEARED

Contract with MNYL End

C.1 NAME GATHERING IN P200

CHANNEL DEVELOPMENT AT MNYL.
Name gathering in P200 consists of people whom you know from natural
market and references you get from their sources. As a management
trainee were given a task to gather 200 names. Figure shows the P200
format in which the database is created.

• Name of the prospective Agent

• Address of Contact

• Age

• Marital Status

• Qualification

• No. of years in the City

• Financial Status

• Profession

• Annual Income

• Natural Market

• Comments

C.2 SHORT LISTING

Candidates are shortlisted from the P200 as per the eligibility criteria laid
down by the company. Only eligible candidates are considered for the next
process.

C.3 CONTACTING

Candidates are called either as nominator, CoI, Prospective Agents and a

meeting is fixed with them according to the convenience of both the party.
Here script plays very important role in fixing appointment with the
prospect.

C.4 INITIAL SCREENING

CHANNEL DEVELOPMENT AT MNYL.
Initial screening is taken if candidate is found eligible using 4 point model.
In initial screening, a sales manager first gives the introduction about the
company. Then several questions such as his family background, his
natural market, traits for a sales person, and his present and past
experiences of his jobs are questioned.

Every candidate is required to get at least 3 points in eligibility model the

company. The eligibility standards for AA selection are as follows. In case
of score less than 3, special zonal head approval is required.

FIVE POINT SYSTEM:

Age 25 and over 1 point

Graduate 1 point

Married 1 point

Lived in city more than 5 years 1 point

NAT score 1 point (if passed)

C.5 NAT

Numerical Ability test is taken. Passing Score is 50%.

C.6 CAREER SEMINAR AND P200

All the prospects are required to attend career seminar at MNYL which
provides broader aspects of growth as an Agent Advisor.

P200 is a worksheet which is given to each prospect to judge his natural

market. The prospects are required to mention at least 100 contacts from
their natural market.
CHANNEL DEVELOPMENT AT MNYL.
C.7 CAREER INTERVIEW

P200 is evaluated in Career Interview. If candidate’s market is found

worth, he is selected to attend training and Development programme.

C.8 FCS

All the selected candidates are required to attend 15 day training session
for receiving the license from IRDA to become an Agent Advisor.

C.9 CONTRACT

All the successful candidates having legal license of IRDA are contracted
with MNYL.

SECTION D
CHANNEL DEVELOPMENT AT MNYL.

CONCLUSION
CHANNEL DEVELOPMENT AT MNYL.

D.1 KEY LEARNINGS

• Before this internship project my knowledge about the insurance

industry was quite bleak. This internship in MNYL has immensely
helped me in categorizing the different financial products.

• Another of my crucial learning has been in the area of

communication with the outside world. Finding a possible prospect
and then giving them information about the opportunities available
was a really tough challenge.

• Majority of the population in Chennai have a negative perception

about the insurance industry. Giving them appropriate information
about the opportunity to earn in this field was a challenging task.

• Along with the information on the job, the staff of MNYL also gave
many inputs that would definitely help in the management field.
CHANNEL DEVELOPMENT AT MNYL.
D.2 EXPERIENCE

My Experience with MNYL will always be grateful for me. I learned many
things in MNYL. The very first thing I learned in MNYL is to handle
objections from the customers. Different type of scripts of MNYL helps in
this.

Working on deadline for achieving target is most crucial process in this

sector and I am thankful to my sales Manager who were always behind me
to support during initial call and helps me to complete my training.

The GO meet to reward successful AA and SM for the month is another

example which clearly emphasizes that MNYL has strong belief in
maintaining a healthy relationship with their stakeholders.

Overall “Channel Development” was a fair attempt from me. During the
internship I was able to make 175 names and recruited 3 out of that.

My telephonic conversation with the prospect always gave me a positive

direction to build my confidence and even in bad phase of response I
learnt the art of making calmness.

I shared a lot of activities with my colleagues. All the trainees from

different background also remained a source of energy for my daily
activities.
CHANNEL DEVELOPMENT AT MNYL.
D.3 CONCLUSION

It has been a great experience working with Max New

York Life. I have gained a lot of knowledge and
improved immensely on my skills. I got the opportunity
to meet and communicate with many people and
undertake responsibility. I feel that MNYL is a great
organization with plenty scope for growth. One of the
main reasons in the success of this project was the
constant appreciation and motivation from the staff of
MNYL and also the staff of IIPM. The internship was both
informative and also interactive.
CHANNEL DEVELOPMENT AT MNYL.
D.4 RECOMMENDATIONS

Max New York Life as an insurance firm has a very strong presence in India
and is rapidly expanding its operations in India. After working on this
project I feel that following are some of the ways in which the company
can improve the current market base and selection procedure for AAs, the
key revenue generating resource for the company:

• Very few people in India are aware of the company and its products.
The company should find more ways to market itself to the outside
world and create awareness about its existence and the efficiencies
of its varied excellent products.

• Another suggestion to the company would be to reduce its timing for

the training program for the agent advisors. Most of the people
coming to MNYL are not satisfied with the timing of training and
return dejected.

• Have a re-look at the existing product range and design products

which can attract masses rather than just serving only classes.
CHANNEL DEVELOPMENT AT MNYL.
D.5 BIBLIOGRAPHY

• IC 33 book of Max New York Life.

• www.maxnewyorklife.com

• www.google.com

• Brochures

• Face To Face Interaction With The Staff

CHANNEL DEVELOPMENT AT MNYL.

APPENDIX