A Project Report ON

RECRUITMENT PROCESS of ADVISORS

AT HDFC Life InsuranceCompany

Submitted In Partial ulfillment for t!e a"ard of de#ree of

$AC%E&OR O $USINESS ADMINISTRATION

Submitted b'( Deepali patidar $$A + nd 'ear

Submitted to( Mr)* I)!a a#ra"al

$*$*A Coodinator

2011-2012

DECLARATION

I declare t!at t!e project entitled ,PRO-ECT ON RECUIRTMENT IN %DC .&IC/ I) an ori#inal done b' me and no part of t!e project i) ta0en from an' ot!er project or material publi)!ed or ot!er"i)e or )ubmitted earlier to an' ot!er colle#e or uni1er)it'*

DEEPA&I PATIDAR

ACKNO

LED!"ENT

"a)

acti1el'

in1ol1ed

"it!

%D C

life

in)urance

compan'

ltd

0ota2 for a period of 34da')2 and I came acro)) a lot of people "!o put in t!eir time and effort to"ard) acclimati5in# me to t!e "or0in#) of t!eir or#ani5ation* ir)tl' I "ould li0e to t!an0) Mr* ANS%UMAN ME%RA i) t!e $RANC% MANA6ER of t!e %D C &ife In)urance Compan' &td* for #i1in# me opportunit' to "or0 "it! t!i) or#ani5ation* I "ould li0e t!an0) Mr* 7ASIM 6AURI "it!out "!o)e )upport2 t!i) project "ould not !a1e been po))ible* %eartie)t t!an0) for !i) con)tant )upport and moti1ation* M' #ratitude to e1er'one t!ere at %D C &ife Compan' "!o !a) !elped me directl' or indirectl' in t!e completion of t!i) project*

#REFACE
I2 )tudent of MODI INSTITUTE O MANA6EMENT AND TEC%NO&O69 affiliated to :OTA UNIVERSIT9 pur)uin# $$A ;6EN< cour)e* I !a1e put m' )incere effort) to accompli)! m' objecti1e) "it!in t!e )tipulated time* De)pite all t!e limitation)2 ob)tacle)2 !urdle) and !indrance)2 I !a1e toiled and "or0ed to m' optimum potential to ac!ie1e t!e de)ire #oal* $ein# in t!e !i#!l' competiti1e "orld of bu)ine))2 I came acro)) )ome difficultie) to ma0e m' objecti1e) a realit'* An'!o"2 "it! t!e 0ind !elp and #enuine intere)t of one and all and formall' )upported b' t!e #uidance of m' #uide2 I am pre)entin# t!i) !and car1ed effort in colored* I tried m' le1el be)t to conduct a re)earc! to #ain a t!orou#! 0no"led#e about t!e project in m' topic ,Recruitment of %D C &ife In)urance Compan'/ I !a1e put t!e be)t of m' effort) and !a1e al)o tried to do ju)tice "it! t!e a1ailable* If an'"!ere )omet!in# i) found unacceptable or unnece))ar' to t!e t!eme2 'ou are "elcome "it! 'our 1aluable )u##e)tion)*

E$EC%TI&E '%""AR(

%D C &ife in)urance i) India=) premier in)urance enablin# compan'* %D C &ife in)urance i) t!e one.)top.)!op for re>uirement) of )er1ice) in t!e area) of in)urance2 optimum in1e)tment2 financial co1era#e and lo))e)2 mortalit' benefit2 and !ealt! option etc* T!i) i) bac0ed b' %D C life in)urance )er1ice )upport infra)tructure . t!e "ide)t in t!e countr'* T!e objecti1e of t!e project "a) to under)tand !o" financial con)ultant pla' important role for in)urance compan' li0e %D C &I E INSURANCE * So to under)tand t!e proce)) of Recruitment of financial con)ultant in %D C &I E INSURANCE* T!e main objecti1e of t!e project i) to under)tand t!e recruitment of financial con)ultant more effecti1el' and efficientl'2 becau)e financial con)ultant pla' mo)t important role in bu)ine)) of in)urance* Mar0et in Pune cit' "a) tar#eted* Variou) area) in cit' "ere )elected* T!e data #a1e 0no"led#e about cu)tomer )ati)faction2 lo'alt' ? t!eir feel about t!e %D C &ife In)urance* Recruitment "a) conducted u)in# >ue)tionnaire* T!e information about

1ariou) attribute) ? factor) "a) collected about t!e financial con)ultant* All t!e data collected2 primar' data "a) filtered ? anal'5ed2 repre)ented in t!e form of #rap!) ? c!art)* Secondar' data "a) al)o u)ed in report )uc! a) compan' profile2 on t!e ba)i) of anal')i) of data2 conclu)ion) "ere dra"n* On t!e ba)i) of findin#) ? conclu)ion)2 )u##e)tion) "ere #i1en*

CONTENT'
Indu)tr' profile
Indu)tr' PROSPECTS @* +* 8* 3* 4* A* B* C* D* Or#ani)ation o1er1ie" Profile Of T!e $oard Of Director ASSOSIATES COMPANIES &IST O T%E MA-OR COMPETITORS AC%IEVEMENT O T%E COMPAN9 S7OT anal')i) of %D C life in)urance compan' PRODUCT RAN6E AND VARIET9 T9PES O PRODUCT RECRUITMENT

@E* RECRUITMENT PO&IC9 @@* E&EMENTS O 6OOD RECRUITMENT PO&IC9

@+* PRE.REFUISITES O 6OOD RECRUITMENT PO&IC9 @8* ACTORS A ECTIN6 RECRUITMENT

@3* PROCESS O RECRUITMENT @4* PROCESS O RECRUITMENT COMPAN9 ADOPTS @A* SOURCES O RECRUITMENT @B* RECRUITMENT PROCESS COMPAN9 ADOPTS @C* RECRUITMENT AT %D C &I E INSURANCE COMPAN9 @D* INDIN6S

+E* &IMITATIONS +@* CONC&USIONS AND SU66ESTION

indu)tr' Profile
INSURANCE
In)urance i) a le#al contract t!at protect) people from t!e financial co)t) t!at re)ult from lo)) of life2 lo)) of !ealt!2 or propert' dama#e* In)urance pro1ide) a mean) for indi1idual) and )ocietie) to cope "it! )ome of t!e ri)0) faced in e1er'da' life* People purc!a)e contract) of in)urance called policie) from a 1ariet' of in)urance called policie)2 from a 1ariet' of in)urance or#ani5ation)* In)urance i) concei1ed a) a met!od of )a1in# of t!e)e lo))e) 2 embod'in# t!e principle of co.operation eGi)ted in t!e earl' ci1ili5ation * T!ere i) e1idence t!at durin# t!e Ar'an ci1ili5ation 2 lo)) of profit) in indu)tr' "a) in)ured b' t!e 1illa#e co.operati1e in India * Almo)t e1er'one li1in# in modern 2 indu)triali5ed countrie) bu') in)urance for in)tance la") in mo)t )tate) re>uire people "!o o"n a car to bu' in)urance before dri1in# it on public road) * lender) re>uire an'one "!o finance) t!e purc!a)e of !ome or car "it! borro"ed mone' to in)ure t!at propert' *bu)ine)) partner) ta0e out life in)urance on eac! ot!er to ma0e )ure t!at bu)ine)) "ill )ucceed e1en if one of t!e partner die)* T"o t'pe) of in)urance( &ife in)urance( &ife in)urance i) a contract for pa'ment of a )um mone' to t!e per)on a))ured on t!e !appenin# of t!e e1ent in)ured a#ain)t * u)uall' t!e contract al)o pro1ide) for t!e pa'ment of premium periodicall' to t!e corporation b' t!e a))ured* 6eneral in)urance( 6eneral in)urance include) man' area) of in)urance li0e maraine2 motor2 en#2 !ealt!2 fire etc t!e contract pro1ide) for t!e pa'ment of an amount on t!e !appenin# of )ome contin#enc' *T!e)e t'pe) of contract) are annual in nature*

A* Ori#in and De1elopment of t!e Compan'

%i)torian) belie1e t!at in)urance fir)t de1eloped in )'dne' b' bab'lonia * T!e merc!ant) and trader) of t!e)e tran)ferred and pooled t!eir mone' to protect t!em)el1e) and pirate)* In t!e @Ct! centur' $C2 $ab'lonian 0in# )amurai de1eloped a code a la"2 0no"n a) t!e code of )pecific rule) #o1ernin# t!e practice) of earl' ri)0 )!arin# acti1itie) * In)urance al)o de1eloped durin# t!e @BEE) in t!e Nort! American colonie)* In @B8E $enjamin fran0 contributed for t!e in)urance) of !ou)e) from lo)) b' fire* Earl' de1elopment of in)urance "a) unor#ani5ed * it "a) mainl' in)urin# commercial ri)0)* T!e in)urance in !uman life )tarted in En#land in @48C AD for term a))urance for @+ mont!) 2"!ic! "a) i))ued for t!e fir)t time * in @BE4 amicable )ociet' )tarted pa'in# a))urance on deat! a term carried on unto @B4B* in @BA+ e>uitable )ociet' "a) t!e fir)t co* to )tart c!ar#in# premium on )cientific ba)i)* In INDIA2 t!e reference) to in)urance !i)tor' relate) to t!e Ea)t India Co "!en )ome policie) "ere i))ued on t!e life of bru)ier) in forei#n currenc'* In @CBE.$omba' mutual fund in)urance ltd In @CB3.Oriental 6o1t )ecurit' life a))urance Co ltd In @CDA.$art in)urance co* and @CDB empire of India In @DE4.no of in)urance compan' life %indu)tan co.op united India2 $omba' life national.A)ian "ere )etup up durin# t!e abo1e period* After +nd "orld "ar )e1eral ne" companie) "ere e)tabli)!ed 2mo)t important bein# ne" a))urance co* ot!er) "ere -upiter 2lame 2And!ra 2indu)trial metropolation and ne" a)ia)tic* After @)t "orld "ar t!e peace of indu)trli5ation "a) accelarted in India* t!e )"edi)! mo1ement !ad alread' #at!ered momentum and nationali)m in t!e t"entie)2 Office) be#an to ta0e due )!are of t!e countr' bu)ine)) *it continuou)l' pro#re))ed and t!ere )eemed to be )tead' ri)e in per capita in)urance in t!e countr'*

T!e #o1ernment )tarted to eGerci)e control "it! t!e pa))in# of in)urance act2 @D@+ T!ere "a) a mar0ed increa)e in t!e 1olume of in)urance bu)ine)) and ot!er form of bu)ine)) *in @D8C t!e deptt of in)urance under t!e aut!orit' of t!e )upritendent of in)urance "a) e)tabli)!ed* T!i) act "a) fut!er amended in @D4E * before nationali5ation t!ere "ere DB operatn# center) almo)t all urban* T!ere "ere +34 different in)urance companie) t!en* Nationali5ation of t!e in)urance bu)ine)) in @D jan @D4A* lic act "a) pa))ed b' t!e parliament and reci1ed pre)idential a))ent on @C june@D4A and act came on @ )ept @D4A* In)urance benefit) t!e )ociet' b' allo"in# indi1idual) to )!are t!e ri)0) faced b' man' people but it al)o )er1e) t!e ot!er economic and )ocietal function) becau)e in)urance i) affordable 2 ban0) can ma0e loan) "it! t!e a))urance t!at t!e loan "it! t!e a))urance i) ea)il' co1ered a#ain)t dama#e* In)urance al)o pro1ide) t!e capital t!at communitie) need to >uic0l' rebuild and reco1er economicall' from natural di)a)ter)*

6ro"t! and Pre)ent Statu) of t!e Indu)tr'

T!e Indian in)urance !a) finall' opened up* T!e fir)t mo1e to"ard) liberali5ation came "it! Ampo!ra committee report in @DD8* "!ic! recommended t!e pri1ati5ation of in)urance *Indian )tand) to #ain "itt' t!e follo"in# major ad1anta#e) ( $etter product) "it! more rea)onable and affordable pricin#* Fuic0 )er1icin# Increa)ed )a1in# rate &on# Hterm fund) for infra)tructure de1elopment "ill be a1ailable to t!e countr'* &ar#e inflo") of forei#n capital* It i) debated t!at t!e in)urance bu)ine)) doe) not produce profit in t!e fir)t fi1e 'ear * Cro)) )ub)idi5ation i) a feature of t!e Indian mar0et * e1ent t!e fire portfolio "!ic! i) con)idered profitable2 cro)) )ub)idi5e) t!e ot!er department * tariff

reduction) are li0el' to reduce furt!er* In)urer "ill !a1e to in)titute proper claim) mana#ement proce)) in order to eGtract proficiencie)* T!e #o1ernment i) )oon to pre)ent t!e ne" model for taG )a1in# life in)urance companie) at internationall' competiti1e ad1anta#e and )0etc! t!eir alliance) accordin#l'* Infect alliance) related to di)tribution rat!er t!an to product or tec!nolo#' "ill pro1e mo)t 1aluable in t!e lon# run * $ro0er) "ill come into t!e mar0et for fir)t time and t!ere i) bound to be inten)e competition A) a re)ult of t!i) in t!e multi c!annel) of di)tribution* Since be#innin# of t!e "orld 2man !a) al"a') felt in)ecurit' for !i) a))et) and e1en life * t!ere i) uncertaint' in e1er' a)pect of life2 it) an old )a'in# t!at onl' deat! and taG are certain* Uncertaintie) in e1er' a)pect of life i) eGpo)I) to our a))et) to lo))e) and con)e>uentl' endle)) problem)* A fire in t!e factor' ma' burn e1er't!in# and o"ner onl' of income "it! !u#e capital i) fini)!ed but in)urance "ill come for re)cue if it) ta0en* In)urance doe) not onl' pro1ide reimbur)ement but )ome )u##e)ti1e mea)ure) al)o to reduce t!e effect of !a5ard) and lo))e) *eart!>ua0e2 flood 2 riot2 )tri0e2 t!eft2 eGplo)ion etc* Some of t!e common dan#er) to our a))et)* Moreo1er life in)urance be)ide) pro1idin# financial a))i)tance to t!e in)ured2 t!e)e policie) pro1ide) in1e)tment opportunitie) and e1en pen)ion plan) at mar0et intere)t rate*

UTURE O T%E Compan'

In Indian mar0et 2 t!e opportunit' for in)urance companie) i) !u#e* T!e effort) of #o1ernment companie) !a1e lac0ed )incerit' 2 a) t!ere i) lar#e untapped mar0et e1en after A@ 'ear) of nationali5ation * accordin# to )ource) 8E core) people of India can afford in)urance !o"e1er onl' C core) of t!em !a1e ta0en a"a'* &ife in)urance in a 'ear i) collected i) onl' +J of 6DP in India "it! t!at of @+ J in USA* Total non Hlife in)urance premium i) mere of E*AJ of 6DP "!ic! i) almo)t ne#li#ible* on t!e ba)i) of t!i) it can be )old t!at t!ere i) !u#e )cope for in)urance in India* T!e late)t fore)een in Indian mar0et and t!e )ucce)) of liberali5ed mar0et in emer#ent economie) to ma0e t!i) opportunit' * to a1ail

t!i) ma' international pla'er) includin# t!e "orld leader) !a1e )etup t!eir bu)ine)) in India form t!e la)t )o man' 'ear)* i*e* %dfc.)lic2 Icici Prudential life 2MaG life in)urance corporation 2 $ajaj.allian5**

indu)tr' pro)pect)
Introduction
%D C &ife In)urance Compan' &imited* i) one of India=) leadin# pri1ate in)urance companie)2 "!ic! offer) a ran#e of indi1idual and #roup in)urance )olution)* It i) a joint 1enture bet"een %ou)in# De1elopment inance Corporation &imited ;%D C &imited<2 India=) leadin# !ou)in# finance in)titution and a 6roup Compan' of t!e Standard &ife Plc2 U:* A) on ebruar' +C2 +EED %D C &td* !old) B+*38J and Standard &ife ;Mauritiu) %oldin#< +EEA2 &td* !old) +A*EEJ of e>uit' in t!e joint 1enture2 "!ile t!e re)t i) !eld b' Ot!er)* HDFC Limi)e*2 IndiaK) premier !ou)in# finance in)titution !a) a))i)ted more t!an 8*8 million familie) o"n a !ome2 )ince it) inception in @DBB acro)) +3EE citie) and to"n) t!rou#! it) net"or0 of o1er +4E office)* It !a) international office) in Dubai2 &ondon and Sin#apore "it! )er1ice a))ociate) in Saudi Arabia2 Fatar2 :u"ait and Oman to a))i)t NRIK) and PIOK) to o"n a !ome bac0 in India* A) of December +EEC2 t!e total a))et )i5e !a) cro))ed more t!an R)* D42EEE crore) includin# t!e mort#a#e loan a))et) of more t!an R)* C+2CEE crore)* T!e corporation !a) a depo)it ba)e of R)* @B244@ crore)2 earnin# t!e tru)t of more t!an D2EE2EEE depo)itor)* Cu)tomer Ser1ice and )ati)faction !a) been t!e main)ta' of t!e or#ani5ation* %D C !a) )et benc!mar0) for t!e Indian !ou)in# finance indu)tr'* Reco#nition for t!e )er1ice to t!e )ector !a) come from )e1eral national and international entitie) includin# t!e 7orld $an0 t!at !a) lauded %D C a) a model !ou)in# finance compan' for t!e de1elopin# countrie)* %D C !a) underta0en a lot of con)ultancie) abroad a))i)tin# different countrie) includin# E#'pt2 Maldi1e)2 and $an#lade)! in t!e )ettin# up of !ou)in# finance companie)*

Standard &ife 6roup ;Standard &ife plc and it) )ub)idiarie)<

T!e ')an*ar* Life !roup !a) been loo0in# after t!e financial need) of cu)tomer) for o1er @CE 'ear)* It currentl' !a) a cu)tomer ba)e of around B million people "!o rel' on t!e compan' for t!eir in)urance2 pen)ion2 in1e)tment2 ban0in# and !ealt!.care need)* It) in1e)tment mana#er currentl' admini)ter) L@+4 billion in a))et)* It i) a leadin# pen)ion) pro1ider in t!e U:2

and i) rated b' Standard ? Poor=) a) =)tron#= "it! a ratin# of AM and a) =#ood= "it! a ratin# of A@ b' Mood'=)* Standard &ife "a) a"arded t!e =$e)t Pen)ion Pro1ider= in +EE32 +EE4 and +EEA at t!e Mone' Mar0etin# A"ard)2 and it "a) 1oted a 4 )tar life and pen)ionK) pro1ider at t!e inancial Ad1i)er Ser1ice A"ard) for t!e la)t @E 'ear) runnin#* T!e =4 Star= accolade !a) al)o been a"arded to Standard &ife In1e)tment) for t!e la)t @E 'ear)2 and to Standard &ife $an0 )ince it) inception in @DDC* Standard &ife $an0 "a) a"arded t!e =$e)t leGible Mort#a#e &ender= at t!e Mort#a#e Ma#a5ine A"ard) in +EEA*

Compan'K) Vi)ion ? Value) Compan'K) Vi)ion =T!e mo)t )ucce))ful and admired life in)urance compan'2 "!ic! mean) t!at "e are t!e mo)t tru)ted compan'2 t!e ea)ie)t to deal "it!2 offer t!e be)t 1alue for mone'2 and )et t!e )tandard) in t!e indu)tr'=* =T!e mo)t ob1iou) c!oice for all=* Compan'K) Value) Value) t!at "e ob)er1e "!ile "e "or0(

Inte#rit' Inno1ation Cu)tomer centric People Care ,One for all and all for one/ Team "or0 -o' and Simplicit'

OR!ANI'ATION O&ER&IE

"AN

ITH A "I''ION

If e1er t!ere "a) a man "it! a mi))ion it "a) %a)mu0!b!ai Pari0!2 ounder and C!airman.Emeritu) of %D C 6roup "!o left t!i) eart!l' abode on No1ember@C2 @DD3* $orn in a traditional ban0in# famil' in Surat26ujurat2 Mr* Pari0! )tarted !i) financial career at %ar0i)anda)) &u0!mida)) H a leadin# )toc0 bro0in# firm* T!e firm clo)ed do"n in t!e late )e1entie)2 but2 lon# $efore t!at2 !e "ent on to become a to"erin# fi#ure on t!e Indian financial )cene* In @D4A !e be#an !i) lifelon# financial affair "it! t!e Economic "orld2 a) 6eneral Mana#er of t!e ne"l'.formed Indu)trial Credit and In1e)tment Corporation of India;ICICI<* %e ro)e to become C!airman and continued )o till !i) retirement in @DB+*At t!e ripe a#e of AE2 %a)mu0!b!ai )tarted !i) )econd d'namic life2 e1en more Illu)triou) t!an !i) fir)t* %i) 1i)ion for mort#a#e finance for !ou)in# #a1e birt! to t!e %ou)in# De1elopment inance Corporation HIt "a) a trend. )etter for !ou)in# finance in t!e 7!ole A)ian continent* %e "a) al)o a "riter in !i) o"n ri#!t* T!ere are o1er +EE publi)!ed article) b' !im***N In @DD+2 t!e 6o1ernment of India !onored !im "it! t!e Padma $!u)!an A"ard*&ondon Sc!ool of Economic) ? Political Science conferred on !im an %onorar' ello")!ip*%e "a) one of t!e ounder Member) of t!e Centre for Ad1ancement of P!ilant!rop'2 and itK) C!airman till @DD8* %e too0 acti1e intere)t in t!e

$omba' Communit' Public Tru)t2 de)i#ned )pecificall' to )er1e t!e need) of t!e cit'K) underpri1ile#ed citi5en)* 7!en Mr* Deepa0 Pari0! too0 o1er a) C!airman from %a)mu0!b!ai2 !e )aid( ,Ta0in# o1er from %*T* Pari0! i) a formidable ta)0O !i) 1i)ionP brou#!t about not Onl' an in)titution2 but an entire concept "!ic! !a) pro1ed it)elf to be of la)tin# Importance*/ T!e Standard &ife A))urance Compan' ;QStandard &ifeQ< "a) e)tabli)!ed in @C+4 and t!e fir)t Standard &ife A))urance Compan' Act "a) pa))ed b' Parliament in @C8+* Standard &ife "a) reincorporated a) a mutual a))urance compan' in @D+4* T!e Standard &ife #roup ori#inall' operated onl' t!rou#! branc!e) or a#encie) of t!e mutual compan' in t!e United :in#dom and certain ot!er countrie)* It) Canadian branc! "a) founded in @C88 and it) Iri)! operation) in @C8C* T!i) lar#el' remained t!e )tructure of t!e #roup until @DDA2 "!en it opened a branc! in ran0furt2 6erman' "it! t!e aim of eGportin# it) U: life a))urance and pen)ion) operatin# model to capitali)e on t!e opportunitie) pre)ented b' EC Directi1e D+RDAREEC ;t!e ,T!ird &ife Directi1e/< and offer a product ran#e in t!at mar0et "it! In t!e @DDE)2 t!e #roup al)o )ou#!t to di1er)if' it) operation) into area) "!ic! complemented it) core life a))urance and pen)ion) bu)ine))2 "it! t!e intention of po)itionin# it)elf a) a broad ran#e financial )er1ice) pro1ider* $an0in# and in1e)tment* T!e #roup )et up Standard &ife $an02 it) U: mort#a#e and retail )a1in#) ban0in# )ub)idiar'2 in @DDC and Standard &ife In1e)tment)2 "!ic! !ad pre1iou)l' been t!e in.!ou)e in1e)tment mana#ement unit of t!e #roupK) life a))urance and pen)ion) bu)ine))2 "a) )eparated into a di)tinct le#al entit' in t!e )ame 'ear2 "it! t!e aim of e)tabli)!in# it a) an independent in1e)tment mana#ement bu)ine)) pro1idin# )er1ice) to bot! t!e #roup and t!ird part' retail and in)titutional client)* T!e #roup ac>uired Prime %ealt! &imited ;)ub)e>uentl' renamed Standard &ife %ealt!care< in t!e United :in#dom in +EEE* Standard &ife %ealt!care eGpanded in Marc! +EEA "it! t!e ac>ui)ition of t!e PMI bu)ine)) of ir)tA))i)t*

Standard &ife A)ia &imitedR-oint 1enture) H T!e #roupK) %on# :on# )ub)idiar'2 Standard &ife A)ia &imited ;,S& A)ia/<2 "a) incorporated in @DDD a) a joint 1enture and became a "!oll'.o"ned

)ub)idiar' of Standard &ife in +EE+* T!e #roupK) operation) in %on# :on# "ere e)tabli)!ed to #i1e t!e #roup a pre)ence in t!e ar Ea)t from "!ic! it could eGpand into C!ina* T!e #roupK) joint 1enture) in India "it! %ou)in# De1elopment inance Corporation &imited ;,%D C/< "ere incorporated in +EEE ;in relation to t!e life a))urance and pen)ion) joint 1enture< and +EE8 ;in relation to t!e in1e)tment mana#ement joint 1enture<* T!e #roupK) joint 1enture in C!ina "it! Tianjin Economic De1elopment

Standard &ife International &imited . T!e #roup al)o incorporated Standard &ife International &imited ;,S&I&/< in +EE4 for t!e purpo)e) of pro1idin# t!e #roup "it! an off)!ore 1e!icle2 ba)ed in Ireland2 t!rou#! "!ic! it could )ell taG.efficient in1e)tment product) into t!e United :in#dom* Sale) of t!e)e product) commenced in +EEA* Ser1ice compan' ollo"in# t!e #roupK) )trate#ic re1ie" in +EE32 t!e #roup e)tabli)!ed a )er1ice compan' )tructure for t!e pro1i)ion of central corporate )er1ice) to t!e #roupK) bu)ine)) unit)* Standard &ife Emplo'ee Ser1ice) &imited ;,S&ES&/< )upplie) a "ide ran#e of central )er1ice) to t!e re)t of t!e #roup2 includin# IT2 facilitie)2 le#al and !uman re)ource) )er1ice)2 and emplo') )taff "or0in# in t!e #roupK) U: and Iri)! operation) ;ot!er t!an S&I2 S&$ and S&%2 "!ic! emplo' t!eir )taff directl'<* T!i) )er1ice compan' )tructure "a) created to enable Standard &ife to compl' "it! re#ulator' re)triction) on t!e pro1i)ion of non.in)urance )er1ice) and to eGploit #roup."ide )'ner#ie)*

Profile of t!e $oard of Director)

"r+ Deepa, '+ #are,- i) t!e C!airman of t!e Compan'* %e i) al)o t!e EGecuti1e C!airman of %ou)in# De1elopment inance Corporation &imited ;%D C &imited<* %e joined %D C &imited in a )enior mana#ement po)ition in @DBC* %e "a) inducted a) a "!ole.time director of %D C &imited in @DC4 and "a) appointed a) it) EGecuti1e C!airman in @DD8* %e i) t!e C!ief EGecuti1e Officer of %D C &imited* Mr* Pare0! i) a ello" of t!e In)titute of C!artered Accountant) ;En#land ? 7ale)<*

'ir A.e/an*er "+ Crom0ie joined t!e $oard of Director) of t!e Compan' in April2 +EE+* %e !a) been "it! t!e Standard &ife 6roup for 83 'ear) !oldin# 1ariou) )enior mana#ement po)ition)* %e "a) appointed a) t!e 6roup C!ief EGecuti1e of t!e Standard &ife 6roup in Marc! +EE3* Sir Crombie i) a fello" of t!e acult' of Actuarie) in Scotland*

"r+ Ke,i "+ "is)ry joined t!e $oard of Director) of t!e Compan' in December2 +EEE* %e i) currentl' t!e Mana#in# Director of %D C &imited* %e joined %D C &imited in @DC@ and became an EGecuti1e Director in @DD8* %e "a) appointed a) it) Mana#in# Director in No1ember2 +EEE* Mr* Mi)tr' i) a ello" of t!e In)titute of C!artered Accountant) of India and a member of t!e Mic!i#an A))ociation of Certified Public Accountant)*

"s+ "arcia D+ Camp0e.. i) currentl' t!e 6roup Operation) Director in t!e Standard &ife #roup and i) re)pon)ible for 6roup Operation)2 A)ia Pacific De1elopment2 Strate#' ? Plannin#2 Corporate Re)pon)ibilit' and S!ared Ser1ice) Centre* M)* Campbell joined t!e $oard of Director) in No1ember +EE4*

"s+ Renu '+ Karna* i) t!e EGecuti1e director of %D C &imited2 i) a #raduate in la" and !old) a Ma)ter=) de#ree in economic) from Del!i Uni1er)it'* S!e !a) been emplo'ed "it! %D C &imited )ince @DBC and "a) appointed a) t!e EGecuti1e Director in +EEE* S!e i) re)pon)ible for o1er)eein# all a)pect) of lendin# operation) of %D C &imited*

"r+ Norman K+ ',eoc- i) currentl' t!e C!ief EGecuti1e in Standard &ife In1e)tment) &imited and i) re)pon)ible for o1er)eein# In1e)tment Proce)) ? C!ief EGecuti1e Officer unction* Prior to t!i)2 Mr* S0eoc! "a) "or0in# "it! MR)* -ame) Capel ? Co* !oldin# t!e po)ition) of U: Economi)t2 C!ief Economi)t2 EGecuti1e Director2 Director of Control) and Strate#' %S$S Securitie) and Mana#in# Director International E>uitie)* %e "a) al)o re)pon)ible for Economic and In1e)tment Strate#' re)earc! produced on a "orld"ide ba)i)* Mr* S0eoc! joined t!e $oard of Director) in No1ember +EE4*

"r+ !au)am R+ Di1an i) a practi)in# C!artered Accountant and i) a ello" of t!e In)titute of C!artered Accountant) of India* Mr* Di1an "a) t!e ormer C!airman and Mana#in# Committee Member of Mid)nell 6roup International2 an International A))ociation of Independent Accountin# irm) and !a) aut!ored )e1eral paper) of profe))ional intere)t* Mr* Di1an !a) "ide eGperience in auditin# account) of lar#e public limited companie) and nationali)ed ban0)2 financial and taGation plannin# of indi1idual) and limited companie) and al)o !a) )ub)tantial eGperience in )tructurin# o1er)ea) in1e)tment) to and from India*

A))ociate Companie)
%D C &IMITED %D C $AN:

%D C MUTUA& UND

%D C SA&ES %D C ER6O 6eneral In)urance

Ot!er Companie)

%D C Tru)tee Compan' &td* 6RU% inance &td* %D C De1eloper) &td* %D C Propert' Venture) &td* %D C Venture) Tru)tee Compan' &td*

&IST O MA-OR COMPITITORS

@+ A1i1a &ife In)urance +* $ajaj Allian5 8* $irla Sun &ife In)urance 3* ICICI Prudential &ife In)urance 4* :ota0 Ma!indra Old Mutual &ife In)urance &imited A* &ife In)urance Corporation of India ;&IC< B* MaG Ne" 9or0 &ife In)urance C* Met&ife India In)urance D* Reliance &ife In)urance @E* S$I &ife In)urance @@* S!riRam &ife In)urance @+* TATA AI6 &ife In)urance @8* $%ARTI ASA %ead Office H Edinbur#!2 Scotland ;U:< 7orld"ide Operation) and Pre)ence

AC%IVEMENT O T%E COMPAN9

A"ard) and Reco#nition 9ear
T +EE8 T +EE+ T +EE@ T +EEE T @DDD T @DDA.DD T @DD4 T @DD+.D3 T @DD@

A"ard
Compan' of t!e 9ear Compan' of t!e 9ear $e)t Per)onal Pen)ion Pro1ider Compan' of t!e 9ear Compan' of t!e Decade Compan' of t!e 'ear 3 )tar )er1ice a"ard O1erall be)t compan' 8 )tar )er1ice a"ard

T Standard &ife !a) been a"arded t!e QRai)in# Standard)Q >ualit' mar0* T!i) )!o") t!at t!e Compan'(

u)e) clear lan#ua#e to de)cribe t!eir product) on 0e' document)2 !a1e appropriate product) and Pro1ide a >ualit' )er1ice for t!e cu)tomer)*

Mone' Mar0etin# A"ard)

Compan' of t!e 9ear e1er' 'ear from @DDD to +EE4 $e)t Pen)ion Pro1ider +EE3 and +EE4 $e)t 6roup Pen)ion Pro1ider e1er' 'ear from @DDC to +EE8

$e)t Per)onal Pen)ion Pro1ider e1er' 'ear )ince @DDC to +EE8 $e)t &ife In1e)tment Product Pro1ider +EE8 and +EE3 6old A"ard in t!e Po)ter Campai#n Cate#or' ;Ad1erti)in#< +EE3

Mone' fact) In1e)tment2 &ife ? Pen)ion) A"ard)

$e)t Pen)ion Product +EE82 +EE3 and +EE4 $e)t Pen)ion Ser1ice +EE82 +EE3 and +EE4

$an0 !all Ac!ie1ement A"ard)

Pen)ion Pro1ider of t!e 9ear +EE8 and +EE3

inancial Ad1i)er Pro1ider A"ard)

O1erall 7inner in @DDD2 +EEE2 +EE@ and +EE+ Pen)ion) Pro1ider of t!e 9ear @DDD2 +EEE2 +EE@2 +EE+ and +EE8 Pen)ion) Compan' of t!e 9ear +EE3 Indi1idual Pen)ion) Compan' of t!e 9ear +EE3 6roup Pen)ion) Pro1ider of t!e 9ear +EE3 %ealt! In)urance Compan' of t!e 9ear +EE3

inancial Ad1i)er Ser1ice A"ard)

Compan' of t!e 9ear e1er' 'ear from @DDB to +EE@ 4 Star &ife and Pen)ion) Pro1ider e1er' 'ear from @DDA to +EE3 4 Star In1e)tment Pro1ider e1er' 'ear from @DDA to +EE+ and +EE3

Pen)ion) Mana#ement Admini)tration and Ser1ice A"ard)

O1erall 7inner . Per)onal Pen)ion) +EE8 O1erall 7inner . Sta0e!older Pen)ion) +EE+ and +EE8 O1erall 7inner . 6roup Per)onal Pen)ion) +EE+ and +EE3 Member Communication) . Per)onal Pen)ion)2 6roup Per)onal Pen)ion) ? Sta0e!older Pen)ion) +EE8 $ac0up ;branc! office< . Per)onal Pen)ion) +EE8

S7OT Anal')i) of t!e %D C &ife In)urance Compan'

STREN6T%
@* %D C !a) one of t!e !i#!e)t brand recall) of around CEJ ;)ource( AC Neil)on OR6 MAR6<* +* %D C !a) different t'pe) of trainin# met!od) for t!eir Ad1i)or* 8* induction2 Ad1anced trainin#* inancial EGperti)e* 3* Ran#e of )olution)* 4* %a1in# #ood net"or0* A* One of t!e mo)t a##re))i1e mar0etin# )trate#ie)* B* Trainin# pro1ided to all people a))ociated "it! t!e ban0 pro1ide) )er1ice) li0e c!ec0in# t!e plan or policie) online* C* ree )"itc!in# option) online informin# cu)tomer) about t!e performance of t!eir in1e)tment b' )endin# mont!l' report) and )tatement) D* %a1e around @34EEE financial ad1i)or CK)2 A#ent) or or EGample Di)!a trainin#2 IRDA trainin#2 $a)ic trainin# and

7EA:NESS
@* T!e' are unable to tar#et rural area a) compare to &IC* +* Poor a"arene)) for ne" product) in con)umer) Poor Di)tribution net"or0*

8* Ne#li#ence to cu)tomer) after t!e in1e)tment i) )old* 3* Ver' %u#e Premium of policie) compared to major ri1al &IC* 4* Tar#et Upper cla)) people onl'* A* All $roc!ure) are in En#li)! onl'* B* Sometime) ri#!t ad1ice i) not #i1en to t!e cu)tomer)* C* T!e full c!ar#e) are not re1ealed to t!e cu)tomer)

OPPORTUNITIES
In India )till t!ere i) a bi# mar0et for in)urance field* @* B4J of Indian mar0et i) )till untapped* +* Attract more people b' pro1idin# more cu)tomer centric product)* 8* Stron# brand of t!e ban0 !elp) to boo)t )ale) in mar0et* 3* No*@ in adaptin# ne" tec!nolo#ie) li0e online )earc! etc* 4* Tie up "it! bro0er) al)o !a1in# a lar#e data ba)e of t!e cu)tomer)* A* 6ettin# lead) from t!e branc! member)*

T%REATS
@* Man' pri1ate pla'er) are comin# into t!e mar0et*

+* Some brand) in t!e mar0et #i1e) t!ere product "it! more feature)*

8* *&IC2 ICICI ? $ajaj Allian5 i) t!e major competitor "it! better net"or0* 3* T!reat) from ot!er ban0) )ellin# )ame t'pe) of in1e)tment)* 4* C!an#e in t!e policie) of IRDA* A* C!an#e in t!e mentalit' of people B* ear of t!e mar0et to cra)! do"n*
C* Emplo'ee attrition*

PROUCT RAN6E ? VARIET9

At %D C &ife2 "e offer a bou>uet of in)urance )olution) to meet e1er' need* 7e cater to bot!2 indi1idual) a) "ell a) to companie) loo0in# to pro1ide

benefit) to t!eir emplo'ee)* T!i) )ection #i1e) 'ou detail) of all our product)* 7e !a1e incorporated 1ariou) do"nloadable form) and product detail) )o t!at 'ou can ma0e an informed c!oice about bu'in# a polic'* or indi1idual)2 "e !a1e a ran#e of protection2 in1e)tment2 pen)ion and )a1in#) plan) t!at a))i)t and nurture dream) apart from pro1idin# protection* 9ou can c!oo)e from a ran#e of product) to )uit 'our life.)ta#e and need)* or or#ani5ation) "e !a1e a !o)t of cu)tomi5ed )olution) t!at ran#e from 6roup Term In)urance2 6ratuit'2 &ea1e Enca)!ment and Superannuation Product)* T!e)e affordable plan) apart from pro1idin# lon# term 1alue to t!e emplo'ee) !elp in en!ancin# #ood"ill of t!e compan'* 7e at %D C &ife reali5e t!at not e1er'one !a) t!e )ame 0ind of need)* :eepin# t!i) in mind2 "e !a1e a 1aried ran#e of Product) t!at 'ou can c!oo)e from to )uit all 'our need)* T!e)e "ill !elp )ecure 'our future a) "ell a) t!e future of 'our famil'*

T'pe of product)
;@< Protection
A* Term a))urance plan

$* &oan co1er term a))urance plan

;+< In1e)tment
Sin#le premium "!ole of life ;8< Pen)ion plan A* Per)onal pen)ion plan $* Unit lin0ed per)onal pen)ion plan

;3< Sa1in#
A* Unit lin0ed endo"ment plan $* Mone' bac0 C* Endo"ment plan D* Unit lin0ed 'oun#)ter plan

RECRUITMENT

RECRUITMENT(

Recruitment i) concerned "it! de1elopin# )uitable tec!ni>ue) for attractin# more and more candidate)* T!e aim of per)onnel plannin# i) to determine t!e need) for per)on) bot! in term) of number and t'pe* or decidin# about t!e number bot! pre)ent and future re>uirement) )!ould be ta0en into account* If t!ere are eGpan)ion plan) in near future t!en t!e)e re>uirement) )!ould al)o be con)idered* $e)ide) number2 t!e t'pe of per)on) needed i) al)o important* T!e educational and tec!nical re>uirement) to mana#e 1ariou) job) )!ould e properl' anal'5ed )o t!at ri#!t t'pe of per)on) are emplo'ed* Recruitment i) )ometime) confu)ed "it! emplo'ment* T!e t"o are not one and t!e )ame* Recruitment i) ju)t one )tep in t!e proce)) of emplo'ment* Recruitment i) a lin0a#e acti1it' brin#in# to#et!er t!o)e "it! job) and t!o)e )ee0in# job)* 7!en more per)on) appl' for job) t!en t!ere "ill be )cope for recruitin# better per)on)* DE INITION ( ,Recruitment i) t!e proce)) of )earc!in# for pro)pecti1e emplo'ee) and )timulatin# and encoura#in# t!em to appl' for job) in an or#ani5ation*/

RECRUITMENT PO&IC9 (
It )pecifie) t!e objecti1e of recruitment and pro1ide) a frame"or0 for t!e implementation of t!e recruitment pro#ramme* A recruitment polic' ma' in1ol1e commitment to broad principle) )uc! a) fillin# 1acancie) "it! t!e be)t.

>ualified indi1idual)* It ma' al)o in1ol1e t!e or#ani5ational )')tem to be de1eloped for implementin# recruitment pro#ramme and procedure to be emplo'ed*

E&EMENTS O 6OOD RECRUITMENT PO&IC9 (

A #ood recruitment polic' mu)t contain t!e follo"in# element)( @< Or#ani5ational objecti1e) ( $ot! )!ort term and lon# term or#ani5ational objecti1e) mu)t be ta0en into con)ideration* Identification of recruitment need) ( T!e recruiter) )!ould prepare profile) for eac! cate#or' of "or0er) and accordin#l' "or0 out t!e main )pecification)2 decide t!e )ection)2 department) or branc!e) "!ere t!e' )!ould be placed* +< Preferred )ource) of recruitment ( T!e )ource) of recruitment )!ould be identified properl'* 8< Criteria of )election and preference) ( Selection and preference) )!ould be ba)ed on con)ciou) t!ou#!t and )eriou) deliberation* 3< Monetar' a)pect) ( T!e co)t of recruitment and financial implication) of t!e )ame !a1e to be 0ept in mind al)o*

PRE.REFUISITES O 6OOD RECRUITMENT PO&IC9 (

@< It )!ould be in conformit' "it! t!e #eneral per)onnel policie)* +< It )!ould be fleGible enou#! to meet t!e c!an#in# need) of t!e or#ani5ation*

8< It )!ould pro1ide emplo'ee) "it! job )ecurit' and continuou) emplo'ment* 3< It )!ould inte#rate or#ani5ational need) and emplo'ee need)* 4< It )!ould matc! t!e >ualitie) of t!e emplo'ee) "it! t!e re>uirement) of t!e "or0 for "!ic! t!e' are emplo'ed* A< It )!ould !i#!li#!t t!e nece))it' of e)tabli)!in# job anal')i)*

ACTORS A

ECTIN6 RECRUITMENT (

E1er' or#ani5ation2 bi# or )mall !a) to en#a#e in recruitment of per)on)2 recruitment !a) t"o a)pect). @< To find out t!e number of 1acancie) to be notified and t!e t'pe of applicant) needed to fill t!em* +< To approac! t!e potential applicant) to appl' for )uc! 1acancie)* No or#ani5ation can recruit )ucce))full' "it!out ta0in# into con)ideration t!e follo"in# factor) H @< T!e Economic actor) H T!e economic condition) of a countr' influence t!e recruitment proce)) in all or#ani5ation* T!e #lobali5ation and liberali5ation of Indian economie) )ince @DD@ on"ard) !a) re)ulted in a boom in financial )er1ice) in India* A) a re)ult of t!e ne" economic polic'2 t!e demand) of "ell +< T!e Social actor) H T!e)e al)o affect t!e recruitment polic' of an or#ani5ation* Social c!an#e) in t!e pa)t t"o decade) in India2 !a1e forced or#ani5ation to place increa)ed emp!a)i) on recruitment* T!e mentalit' of

modern emplo'ee) !a) c!an#ed from ju)t an' job to a )ati)f'in# career* 8< T!e Tec!nolo#ical actor) H Ne" tec!nolo#' !a1e created ne" job) and eGi)tin# job) !a1e under#one rapid c!an#e)* Se1eral old job) !a1e di)appeared from t!e )cene* 3< T!e &e#al actor) H T!e different le#i)lati1e policie) #o1ernin# c!ild labour2 ni#!t )!ift)2 bonded labour etc* !a1e brou#!t le#al en1ironment to a major factor* RECRUITMENT PROCESS.
T!e main )tep) of t!e recruitment proce)) are( @* +* 8* 3* 4* A* -ob De)i#n Openin# -ob Po)ition Collectin# -ob Re)ume) Pre)election of -ob Re)ume) -ob Inter1ie") -ob Offer

T!e job de)i#n i) t!e mo)t important part of t!e recruitment proce))* T!e job de)i#n i) a p!a)e about de)i#n of t!e job profile and a clear a#reement bet"een t!e line mana#er and t!e %RM unction* T!e -ob De)i#n i) about t!e t!e a#reement about t!e profile of t!e ideal job candidate and t!e a#reement about t!e )0ill) and competencie)2 "!ic! are e))ential* T!e information #at!ered can be u)ed durin# ot!er )tep) of t!e recruitment proce)) to )peed it up* T!e Openin# of t!e -ob Po)ition i) #enerall' t!e job of t!e %R Recruiter* S0illed and eGperienced %R Recruiter )!ould decide about t!e ri#!t miG of t!e recruitment )ource) to find t!e be)t candidate) for t!e job po)ition* T!i) i) anot!er 0e' )tep in t!e recruitment proce))* T!e neGt )tep i) collectin# of job re)ume) and t!eir pre)election* T!i) )tep in t!e recruitment proce)) i) 1er' important toda' a) man' or#ani5ation lo)e a lot of time in t!i) )tep* Toda'2 t!e or#ani5ation cannot "ait "it! t!e pre)election of t!e job re)ume)* 6enerall'2 t!i) )!ould be t!e la)t )tep done purel' b' t!e %RM unction* T!e job inter1ie") are t!e main )tep in t!e recruitment proce))2 "!ic! )!ould be clearl' de)i#ned and a#reed bet"een %RM and t!e line mana#ement* T!e job inter1ie" )!ould

di)co1er t!e job candidate2 "!o meet) t!e re>uirement) and fit) be)t t!e corporate culture and t!e department* T!e job offer i) t!e la)t )tep of t!e recruitment proce))2 "!ic! i) done b' t!e %RM unction2 it finali5e) all t!e ot!er )tep) and t!e "inner of t!e job inter1ie") #et) t!e offer from t!e or#ani5ation to join*

SOURCES O RECRUITMENT H
$efore an or#ani5ation acti1el' be#in) to recruit applicant) it )!ould con)ider t!e mo)tl' li0el' )ource of t!e t'pe of emplo'ee it need)* Some companie) tr' to de1elop ne" )ource) "!ile mo)t tr' to tac0le t!e eGi)tin# )ource) t!e' !a1e* T!e)e )ource) accordin#l' ma' be termed a) internal and eGternal* Internal Source) H T!i) i) one of t!e important )ource) of recruitment* T!e emplo'ee) alread' "or0in# in t!e or#ani5ation ma' be more )uitable for !i#!er job) t!an t!o)e recruited out)ide* Internal )ource) con)i)t of t!e follo"in# ( @< Pre)ent Emplo'ee) ( Promotion) and tran)fer) amon# t!e pre)ent emplo'ee) can be a #ood )ource of internal recruitment* +< Emplo'ee Referral) ( In an or#ani5ation "it! a lar#e number of emplo'ee) referral) can pro1ide >uite a lar#e pool of potential or#ani5ational member)* 8< ormer Emplo'ee ( T!e)e are anot!er internal )ource of recruitment* Some retired emplo'ee) ma' be "illin# to come bac0 to "or0*

3< Pre1iou) Emplo'ee) ( T!o)e "!o !a1e pre1iou)l' applied for job) can be contacted b' mail*

EGternal Source) ( T!e)e are a) follo") H @* Ad1erti)ement +* Profe))ional Or#ani5ation 8* Data $an0 3* 7al0 in 4* Recruitin# A#encie) A* Competitor) B* Di)placed Per)on) C* E.recruitment D* Cold callin#

RECRUITMENT PROCESS COMPAN9 ADOPTS 2

@< Internal )ource) +< Ad1erti)ement 8< Con)ultant) 3< Data ban0)

RECRUITMENT AT %D C &I E INSURANCE

Recruitment i) t!e proce)) of attractin# pro)pecti1e candidate) "!o are li0el' to #et )elected* Recruitment proce)) )tart) "it! t!e draftin# of ad1erti)ement for t!e re>uired po)t mentionin# t!e name of t!e po)t2 >ualification) re>uired2 place of po)tin# etc* t!e ad1erti)ement i) relea)ed in all major and national ne")paper acro)) t!e countr'* Not onl' print media2 but ot!er media li0e internet i) al)o u)ed for po)tin# t!e ad1erti)ement* Placement a#encie) and educational in)titution) are con)idered if t!e re>uirement) are for fre)! #raduate)* Emplo'ee reference) b' are al)o encoura#ed* After recei1in# t!e application)2 it i) initiall' )creened b' %R di1i)ion ba)ed on minimum re>uirement) and >ualification) pre)cribed for t!e po)t* Screened application) from %R di1i)ion are )ent to re)pecti1e di1i)ional !ead) for t!eir )creenin# in ca)e of application) for !i#!er po)t)* Selection i) t!e proce)) of )electin# ri#!t candidate) from t!e li)t of pro)pecti1e candidate)*

INDIN6S

rom t!e anal'5ed data I could find t!at H

T!e main )ource of t!e recruitment i) t!rou#! eGternal )ource) i*e* t!rou#! ad1erti)ement* T!e ot!er )ource of recruitment i) t!rou#! reference) 2 natural mar0et and con)ultant)* MaGimum pro)pect) fulfil) all t!e criteria pre)cribed b' t!e IRDA* Re)earc! )!o") t!at t!e inancial Ad1i)or) #enerall' belon# to t!e a#e of 8E.4E 'ear) It i) found t!at t!e compan' pro1ide) bot! t'pe) of trainin# and mainl' pro)pect) #oe) for t!e online trainin#* E1er' 'ear compan' recruit) a) man' a) 4E Ad1i)or) in order to increa)e t!e )ale) force of t!e compan'* Mo)t of t!e recruited people are a"are of t!e in)urance )ector and t!e per)on "!o are not a"are of t!e in)urance )ector are made a"are t!rou#! t!e trainin# before )ittin# for t!e te)t* It !a) been found t!rou#! t!e )tudie) t!at mo)t of t!e candidate recruited belon#) t!e ban0in# and in)urance )ector * It mean) t!at t!e' are !a1in# )ome 0no"led#e about t!e in)urance )ector* or mo)t of t!e pro)pect) attendin# +@ da') trainin# i) a major problem* A) t!e timin#) for t!e trainin# are full time @E(8E am to 4*EE p*m* or mo)t of t!e pro)pect) t!e' join %D C &I E for t!e eGtra income*

Mo)t of t!e recruited people continue "or0in# a) a inancial Ad1i)or*

&IMITATIONS

@< T!i) Project Report i) re)tricted onl' for t!e inter1ie"ed people* +< $ia)ed repl' of t!e re)pondent) li0e #i1in# "ron# information* 8< Non a1ailabilit' of t!e data or t!e rele1ant information of t!e re)pondent* 3< Sometime) it !appen) t!at t!e re)pondent "a) bu)' )o a) to #et t!e information it become) difficult 4< T!e project i) done in near b' area) of t!e Aund! $ranc! of t!e compan' ? t!erefore findin#) of it ma' not be applicable in ot!er area)* A< Time Con)traint) H T!e duration of t!e project i) onl' + mont!)* In t!i) duration "e !a1e to fini)! t!e project )o t!e )ample )i5e con)idered for t!i) project i) al)o limited "!ic! ma' #i1e )ome mi)leadin# output)* B< Alt!ou#! ICICI Prudential i) a "ell 0no"n brand2 it in1e)t) !ea1il' in t!e ad1erti)ement)2 but )ome!o" t!e concept of financial ad1i)or "a) not 0no"n to t!e cu)tomer) and it re>uire) #reat amount of effort) to con1ince t!e 1ariou) benefit) to t!em*

CONC&USION AND SU66ESTION

@* It i) found t!at in t!e la)t fi1e 'ear) t!e Indian econom' !a) pro#re))ed2 "!ic! !a) increa)ed t!e a1era#e purc!a)in# po"er ? t!e in)urance )ector !a) contributed )i#nificantl' in t!i)* +* Since la)t fi1e to )iG 'ear) man' Pri1ate Compan' !a) entered in in)urance )ector) ? becau)e of "!ic! t!e Indian) are !a1in# number of option) in front of t!em in1e)tin# t!eir mone' ? to )afe#uard t!e life* 8* 7!ile doin# t!i) project it i) found t!at recruitin# of t!e ad1i)or i) done b' t!e Unit Mana#er2 and t!e parameter) on "!ic! t!e ad1i)or) are to be recruited are ( Income &e1el H @*+lac) to + lac) per annum Marital Statu) H Married A#e H abo1e +4 'ear) Minimum Education H 6raduation Sta'in# in t!e )ame cit' for more t!an 4 'ear) 3* T!e )tud' of t!e profile of t!e ad1i)or i) dependin# on t!eir indu)tr' bac0#round i*e* t!eir "or0 eGperience and t!e a#e "i)e di)tribution* 4* T!e le1el of a"arene)) of t!e pro)pect) about t!e pri1ate in)urance compan' !a) increa)ed becau)e of t!e !ea1' ad1erti)in# ad mar0etin# b' t!e companie) o1er t!e period of time* A* It i) important to appoint onl' t!o)e pro)pect) a) financial ad1i)or2 "!o can #i1e ? #enerate lon# term bu)ine)) for t!e compan'2 )o to anal'5e t!e pro)pect) ? )tud' t!eir )tatu) i) 1er' important t!in#* B* Mo)t of t!e pro)pect) "anted to join2 a) t!eir fir)t preference to earnin# eGtra mone'2 )econd to )tart bu)ine)) "it! no capita in1e)tment2 t!ird to A))ociation "it! t!e No* @ Pri1ate &ife In)urance Compan'* $a)ed on t!e findin#) in t!e Re)earc! follo"in# )u##e)tion) are made H

indin# ne" pro)pect) i) li0e breat!in#2 )o Unit Mana#er )!ould be in re#ular touc! "it! t!e mar0et )o t!at !e "ill #et) )ome #ood pro)pect)*

Compan' )!ould #o for re#ular Mar0et Sur1e' for findin# out t!e )mart "or0er "!o can )ta' under t!e Mana#er) Sale) Team2 and "ill #enerate lon# term bu)ine))* $ranc! Mana#er )!ould ta0e t!e feedbac0 from t!e eGi)tin# ad1i)or) )o t!at !e can ea)il' under)tand t!e ad1i)or) problem a) "ell ) !e can recommend ne" c!an#e)* T!e compan' )!ould concentrate on t!e rural part )o t!at t!e' can compete "it! &IC India2 and can #enerate )ome bu)ine)) from t!ere a) it i) found t!at mo)t of t!e Pri1ate &ife In)urance companie) are tar#etin# t!e urban mar0et* Compan' )!ould follo" t!e pull )trate#' "!ere it can u)e ad1erti)in# media2 b' preparin# attracti1e Ad)2 t!rou#! Ne")paper2 T*V* 2 and radio can increa)e t!e a"arene)) about t!e compan' ? "ill !elp in impro1in# t!e mar0et )!are* Unit Mana#er )!ould meet re#ularl' "it! t!e eGi)tin# ad1i)or) )o t!at !e can find out t!eir problem) ? al)o ta0e t!eir )u##e)tion)* Mo)t of t!e Indian familie) )till belie1e in t!e &IC* T!e' donKt feel comfortable "it! ot!erbrand)* In )uc! ca)e) ICICI Prudential can opt for de)cripti1e ad1erti)ement) !o" our )olution) are better t!an t!e traditional bu)ine)) )olut

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