CHAPTER 4: LESSONS LEARNT

Summer training is a best example for a trainee to learn about the company working, corporate
culture under which is operating the functions. Max life insurance company under which I
gained a significant knowledge with respect to life insurance, its importance and applicability as
well as undertook the task to recruit capable life insurance advisors which is conducive for the
company to grow with more prosperity. What I taught in the management institute utilized them
fruitfully leading to the best advantage to the company and to the best experience for mine. In all
Public Service jurisdictions, new approaches to recruitment are being used.In many territories,
the strategies are manual but, as automated methods become more pervasive; those mechanisms
that support its use will assume greater popularity. Whatever the strategies selected for use, the
objective is to recruit the most qualified, committed individuals into the organizations and ensure
that the provision of government services to the public is timely and effective, that the goods are
of consistent high quality and that the organizations achieve the objectives for which they have
been established. Life insurance is a noble service which is very important for every citizen to
learn and realize its importance because this is the only source which can remain the status where
one is with the family bread earner and ever when he is not.With the growing financial sector I
would like to opt this industry for my future career advancement and as an opportunity to service
this industry.

Most of the people working in Government and Business sector and they dont have much
financial planning. Another important point is they have good compensation package. So the

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company should bring more innovative and should carry out more promotional activities in
government fields. Better promotion of unit linked plans can generate more sales to the company.

MAX LIFE INSURANCE COMPANYs unit linked insurance plans can effectively meet the
requirements of the customers, because unit linked plans are directly related to the market, so the
customers can creates more wealth through fund and he can enjoy the tax benefit, and also the
insurance cover. The pressure on the sales team would be lessoned by increasing the awareness
among the people about the credibility of the companies and need for capitalizing on the various
insurance plans offered by the private life insurance companies.

As the awareness of insurance is less among the people, its awareness should be creating
among the people by conducting stage shows and explaining its need and importance.

Insurance should not be considered only as a risk cover element but also as a long term
investment

It is also recommended to concentrate to on lower income group people.

More efforts should be taken by the companys financial consultants to convert the leads
into policy holder of Max Life Insurance.

Follow up should be taken and customer relation should be maintained by the inviting the
existing customers to the seminars conducted when launching a new product or any
changes are made to the products or rules to retain them.

Coming with new promotional activities like giving new advertisements, keeping stalls,
conducting seminars in companies, and giving ads through SMS can be done by Max
Life Insurance Co. to create awareness among customers.

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4.1 CONCLUSION

A study on marketing strategies adopted by Max Life Insurance Ltd Company has been carefully
analysed interpreted with the help of analysis tools.
Max Life Insurance was grown a lot through its aggressive marketing strategies and the growth
rate as tremendous, through it is growing faster it has to work on certain things and maintain the
standard. This can be done through introducing more innovative products and recruiting good
quality advisors because they are the pillars of the company and it is the most valuable value
added services that the company is having.
Therefore, the best the company can do is giving the customer something, which is little bit
different and better than its competitor. The company should also be successful in expressing the
extra features, which is given to the customer. The customer should feel that whatever company
is giving is something great, and no one could ever imagine about it. This feeling makes the
customer feel that company is very much satisfying them. In addition, the extra feature given to
satisfying is some thing great.
4.2 RECOMMENDATIONS

In Delhi most of the people working in Government and Business sector and they dont have
much financial planning. Another important point is they have good compensation package. So
the company should bring more innovative and should carry out more promotional activities in
government fields. Better promotion of unit linked plans can generate more sales to the company.

62

MAX LIFE INSURANCE COMPANYs unit linked insurance plans can effectively meet the
requirements of the customers, because unit linked plans are directly related to the market, so the
customers can creates more wealth through fund and he can enjoy the tax benefit, and also the
insurance cover. The pressure on the sales team would be lessoned by increasing the awareness
among the people about the credibility of the companies and need for capitalizing on the various
insurance plans offered by the private life insurance companies.

As the awareness of insurance is less among the people, its awareness should be creating
among the people by conducting stage shows and explaining its need and importance.

Insurance should not be considered only as a risk cover element but also as a long term
investment

It is also recommended to concentrate to on lower income group people.

More efforts should be taken by the companys financial consultants to convert the leads
into policy holder of Max Life Insurance.

Follow up should be taken and customer relation should be maintained by the inviting the
existing customers to the seminars conducted when launching a new product or any
changes are made to the products or rules to retain them.

Max Life Insurance should consol try to change the mindset of the people from investing
in life insurance for the sake of tax exemption to that of worry exemption. India will
move into that mode in the future in its journey to being a developed country as is
exemplified by the fact that in developed countries insurance policies are bought whether
developing countries it is sold.

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 Use data warehousing management and mining to gauge the profitability and potential of
various customer and product segment and ensure effective cross selling and
understanding the customer better will allow insurance companies to assign appropriate
products, determining pricing correctly and increase profitability.

Ensure high level training and development not just for staff but for agents and
distribution of organizations. Existing organizations will have to train staff for better
service and flexibility. While all companies will have to train employees to cope with
new products and an intensive use of information technology.

Coming with new promotional activities like giving new advertisements, keeping stalls,
conducting seminars in companies, and giving ads through SMS can be done by Max
Life Insurance Co. to create awareness among customers.

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